Stockrabit · Analysts
Questions across 10 calls

Pinakin Parekh

HSBC

JK Cement Limited

JK Cement Limited · 2026-07-20
Thank you very much sir. So my first question is can you kindly give us some color on pricing, where are pricing today versus your June quarter average, and monsoon is traditionally a quarter where prices generally fall very sharply Q-on-Q, but this time there's a context of higher energy prices. So how do you see prices in your key markets?
Got it sir. So second question just coming back to your very strong volume growth in the first quarter which you attributed to the new capacity in Bihar and market share gains. How should we look for the remainder of the year if industry environment remains the same? Do you expect this volume growth of around say 16%-17% to be sustained and market share gains to continue through the year?
JK Cement Limited CC-Nov25.pdf · 2025-11-04
Thank you very much, sir. Sir, my first question is, you mentioned there is some pressure on pricing. But as we get out of the monsoon quarter into the busy season, hopefully trade sales pick up and you did also talk about higher premium product sales. So on a blended basis, would you expect net realizations to be flat or down in Q3 versus Q2?
Got it, sir. And sir, on demand, as we get out of the monsoon season into the busy season, we are seeing rains linger. There is a Bihar election. So do you see the demand being pushed out into Q4? Or are you seeing signs of demand recovery in November?

Nuvoco Vistas Corporation Limited

Nuvoco Vistas Corporation Limited CC-Sep25.pdf · 2025-10-16
Yes, thank you very much, sir. My first question is that what would be your sense of the demand growth for the industry would have been in this quarter? Your volume growth was around 2%, so just trying to understand the industry growth across India and in your key markets?
Thank you, sir. So, my second question is trying to understand the second half. You said you expect demand of 7% to 8% in the coming months. For the company, should we expect a similar kind of volume growth for yourself as well? Or would you go faster or slower than the industry?

Steel Authority of India Limited

Steel Authority of India Limited CC-May26.pdf · 2026-05-16
Sir, my first question is, if you can give us the slightly medium -term capex outlook. So you said this year is INR15,000 crores. It will step up further. So over the next 3 to 4 years, what is the capex that SAIL plans to spend and how will this ramp up?
Got it, sir. And sir, my second question is that the employee cost guidance that you have given, this would not include any provisions you will be making in Q4 for the wage revision, right? Historically, wage revision has been around 15 %-odd or so. So that will be over and above whatever guidance you're giving?

UltraTech Cement Limited

UltraTech Cement Limited CC-Feb26.pdf · 2026-01-24
Sir, again, many congratulations, very good number. We understand that demand and pricing both have improved in January. But to go back to what happened in the December quarter. Now we understand that in the last 2 years, there have been multiple acquisiti ons done in Southern India, you and other industry players, expectations of Southern India pricing seeing more stability with upward bias, but somehow that has not taking place. What in your view needs to change in industry dynamics in South for pricing to be more stable with upward bias?
Got it, sir. Sir, just to follow up in your view and given what the position UltraTech is at, if finally, the institutional demand, as you highlighted, starts coming up in a big way in Southern India, can 2026 see a break in terms of South India's historically volatile cement pricing? Or do you see this as something evolving more over the next 2, 3 years?
UltraTech Cement Limited CC-Oct25.pdf · 2025-10-18
Sir, my first question is on the commissioning time line for the expansions. It says FY '28 onwards. So, will it get bunched up in FY '28, or will it be spread over '28, '29, '30?
Sure. And sir, secondly, just more granular color on how does the company see demand between government capex and individual homebuyers? Because from a pricing point of view, for the trade segment, we need the individual homebuyer segment demand to pick up. So as per you, where do you see stronger demand over the second half of the year?

The India Cements Limited

The India Cements Limited CC-Feb26.pdf · 2026-01-24
Sir, again, many congratulations, very good number. We understand that demand and pricing both have improved in January. But to go back to what happened in the December quarter. Now we understand that in the last 2 years, there have been multiple acquisitions done in Southern India, you and other industry players, expectations of Southern India pricing seeing more stability with upward bias, but somehow that has not taking place. What in your view needs to change in industry dynamics in South for pricing to be more stable with upward bias?
Got it, sir. Sir, just to follow up in your view and given what the position UltraTech is at, if finally, the institutional demand, as you highlighted, starts coming up in a big way in Southern India, can 2026 see a break in terms of South India's historically volatile cement pricing? Or do you see this as something evolving more over the next 2, 3 years?
The India Cements Limited CC-Oct25.pdf · 2025-10-18
Sir, my first question is on the commissioning time line for the expansions. It says FY '28 onwards. So, will it get bunched up in FY '28, or will it be spread over '28, '29, '30?
Sure. And sir, secondly, just more granular color on how does the company see demand between government capex and individual homebuyers? Because from a pricing point of view, for the trade segment, we need the individual homebuyer segment demand to pick up. So as per you, where do you see stronger demand over the second half of the year?