Questions across 3 calls

Jashandeep Chadha

Nomura

JINDAL STEEL LIMITED

JINDAL STEEL LIMITED CC-May26.pdf · 2026-05-02

Congratulations, sir, for a very good set of numbers. My first question is on realization. We see that realization has improved in the fourth quarter. The steel prices continue to improve in the first quarter as well. So, I wanted to understand, have your contracts been reset on the higher realization? And what will be the impact on realization in the first quarter? And any comment on the recent dip in steel prices? That will be my first question, sir.

So, it means the realization will remain strong. And my second question is, sir, with BOF commissioned, steelmaking capacity commissioned , with slurry pipeline expected to come in first quarter and then conveyor belts also largely commissioned. What will be Jindal Steel's capex outlay for FY27 and FY28? And which are the key projects now which are left? And will it be fair to say that now Jindal Steel will be looking more at asset sweating than further capacity expansion in the next couple of years?

JSW Steel Limited

JSW Steel Limited CC-Dec25.pdf · 2026-01-23

Hello. Thank you for the opportunity. So, my first question is on the lines of you are expe cting 7% to 9% YoY volume growth or apparent steel consumption growth. Just wanted to understand if we go one step deeper, from which segments are you expecting majority or which segments will lead this demand? We understand that the GDP is growing and ove rall steel consumption will go up. But specific to JSW internally also, which segment do you believe will lead that growth? Is it the auto, industrial, retail or even any other segment that you see? Just wanted to get your view on how the demand will be going ahead.

Understood. So, my related question to this will be, have the intensity of flat product in construction, retail or the real estate sector, has it gone up in the last couple of years? And along with that, I just wanted to understand also the new capacity that you have announced. What will be the capex intensity of that and the product mix, if you can?

Dalmia Bharat Limited

Dalmia Bharat Limited CC-Mar24.pdf · 2024-04-25

I would like to understand, given that this quarter, your volume growth from the core assets have been around 11% to 12%. So is South accounting for the majority of the growth? And if yes, how much market share gain you would have in South? And also for a couple of quarters now, we are seeing that whatever the reduction of the increase in realization has been there, the EBITDA per ton follow that. So there is no question from the cost savings. So is it safe to say that Dalmia has reached its lowest cost? And if not, what is the delta you see for the next coming year? And from here, these cost savings will be coming? This is my first question.

Just a follow-up on this, if you can directionally provide that, was South doing better than East, just a directional thing. And second on cost, I see you have earlier planned to have 130-megawatt of solar, but you ended up at 113 megawatts. So what was the reason for the delay? And second, what was the lead distance for this quarter because your logistical cost also you're saying has increased. So how much sequentially your lead distance has increased?