Mr. Nambiar, what is your view on the next NBS subsidy revision? What should the trajectory be?
Including sulphuric acid?
Questions across 22 calls
Prashant Biyani
Elara Securities
Paradeep Phosphates Limited
Sir, we have committed Rs. 4,000 crores of capex in Odisha. Can you share some details on project-wise breakup and time line of investment for each of them?
Okay. And sir, on MCFL con call, management has told that post merger we may plan some investments in Morocco as well. So can you highlight some details on the Morocco investment plan of ours and time line for the same again?
Mr. Krishnan, the additional benefit of 3500 on DAP that is there right now, have we recognized full 3500 for entire H1?
Okay. And sir for H2 how do you see the profitability or overall margins on a Y-o-Y basis?
Thank you for the opportunity. Sir, given the current subsidy and MRP levels, how do you see the profitability trending for H1 FY25 vis-à-vis H1 last year?
Right, sir. On the rock phospha te side, what indications are we getting from OCP, whether the pricing trajectory is downwards or flattish here?
Thanks for the opportunity. Sir, my question is a bit longer term and in some sense hypothetical also. I believe there is some surplus land at MCFL, is that right?
Sir is it possible that on the western side now we have 1.1 million ton of complex capacity which is without backward integration so sometime down the line can we set up a phosphoric acid plant at Mangalore and then shift Goa’s phosphoric acid requirement from there and hence the assets on the western side will also be backward integrated?
Sir, first some data related question, how much subsidy have we received this quarter and how much is outstanding? I wanted the volume breakup of DAP between Paradeep site and Goa and the same for NPK as well?
And for outstanding?
Leela Palaces Hotels & Resorts Limited
Yes, thank you for the opportunity. So, sir, is it that 2, 2.5 years will be suffice for construction of own portfolio assets? I heard in the initial remarks that most of them are in the design stage, the first 5 months that we had discussed. So, 2, 2.5 years would be suffice timeline for operationalization?
Sure. So, for the club that will start by FY27, three of them, I think we are starting by then, three or four. So how many members are we targeting for the clubs by FY27?
The Indian Hotels Company Limited
Sir, we have been -- last year, we have been running at around 78% to 80% occupancy between Q2 and Q4. So is it that despite demand being there, technically, we may not be able to increase occupancy beyond that point because of the weekday/weekend dynamics?
Right. And so it will give you pricing power to choose more profitable customers?
Sir, between business and leisure, where do you see more scope of improvement in occupancy?
Right. And sir, in the next 3 to 5 years, which of your hotels can become as big as the big 5 machines on Slide 32.
Chambal Fertilizers & Chemicals Limited
Yes, thank you for the opportunity. And congrats on a good set of results. Regarding our trading business, how much of the additional Rs. 3,500 per ton of DAP subsidy have we booked in Q3?
Seeing your EBITDA per ton for traded fertilizer, it does not look like we are making money on DAP. Would that assessment be right?
Abhay sir, can we get some sense on tr ade business profitability for Q3? How much was the EBITDA or profit swing versus last year on the traded fertilizer business?
When you say flat margins, do you mean flat vis-a-vis last year or no profit no loss?
Coromandel International Limited
Congratulations on great set of numbers. Sir, POS volume this quarter has been very strong across India in both urea and complex. What is driving this? And would it mean that Q4 dispatches should again be seeing double-digit growth for us?
Sure. Sir, for FY '26, what kind of volume growth are you looking at? And it will be contributed by incremental volumes would be contributed through manufacturing or trading?
Ma’am, subsidy for Q2 will also be lower on a Y -o-Y basis. So, what efforts are we taking to reduce the pressure on profitability in Q2?
Ma’am, how much was the revenue from Dhaksha in Q1? And if you can provide some updates about the new product development and demand and inquiries from various industries?
Chalet Hotels Limited
Sir, of the total debt, can you break it up between hotel, commercial and residential business?
Okay. And would we be taking any additional debt for the new commercial tower at Powai?
Sir, what led to this sharp increase in other expenses?
Sir, out of this, sir, only this ad spend of INR4 crores looks to be one-off or you would not concur with that view? And if you can mention the total one-off, how much it could be?
Yes. Thanks for the opportunity. Sir, on the hotel business if you look at our number or for the industry, it has been the case that locations where we have seen occupancy increase, rates have reduced. And where ARR has been higher, occupancy has reduced. So, it looks like there is demand, but it is waiting to come at a particular rate. What would be your view on the dynamics which is playing out right now in this backdrop?
What would be the airline crew segment mix for this year, how much was it last year, and how much it could be for next year?
And for next year sir, how much would we be looking at?
Balrampur Chini Mills Limited
Fortunately, sugar prices have been quite resilient despite an overhang of high inventory. What is driving this resiliency in sugar price and what would be your outlook on the domestic price?
And sir, what is the reason for this buoyancy , is it that the actual consumption is higher than reported or there is no inventory with the trade or what is the reason for that?
Sir, we had done ve ry good crushing volume on a FY to FY basis, but for the season also we had guided for around 10% increase in crushing. Unfor tunately, that has not happened, c an you explain the reason for it?
Ma'am, the first point you mentioned was that zero winter rains impacted yield. Am I correct?
Sir, given the current situation of cane crop in Maharashtra and Karnataka, plus the stoppage of FCI rice in grain ethanol, but government's firm stance on ethanol blending. How much could be the blending rate this year? And how much of it do you see coming from cane and how much from grain?
Right. Sir, secondly, in Maharashtra, cane growing area. Same as Eastern UP, we saw a deficit rainfall. But it has benefited the Eastern UP cane growers as well as mills, but not in the case of Maharashtra and Karnataka. Obviously, there was a timing issue on rainfall. If Avantika Ma’am can explain how it benefitted the Eastern UP growers, but not the Maharashtra one. Slightly technical, but just for understanding better?