Stockrabit · Analysts
Questions across 53 calls

Rahul Gupta

Morgan Stanley

ACC Limited

ACC Limited CC-Jun24.pdf · 2024-07-31
Couple of questions. So just taking the previous participants' question forward, so we saw around 20 billion sequential decline in cash position for ACC as well, so is it more driven by a buildup of inventory and higher working capital outgo? Can you just please help us give breakdown of this Rs. 20 billion?
No, I understand that. So the reason I asked this question is, we are not seeing any material CAPEX plan for ACC at least in the near term. So what specifically is driving this large Rs. 2,000 crores?
ACC Limited CC-Mar24.pdf · 2024-05-02
Hi, thank you for taking my question. I have two questions. So first question, taking the Sanghi game plan forward, based on your comment is it fair to say that you target something like 5 million ton from Sanghi in fiscal 25 and secondly, how should one l ook at Sanghi profitability from here?
Great, this is very helpful. So my second question is more from the industry perspective. We saw industry prioritized volumes at the expense of prices during the fourth quarter. And given you and another large player have talked about cost-saving initiatives over the medium term. Is it fair to say that margins expansion will be led by cost control and cement prices may remain sluggish for longer despite a strong demand outlook? Any color on this will be helpful?
ACC Limited CC-Sep23.pdf · 2023-11-01
Hello. Thank you for taking my questions. Sorry, my first question again is on cost optimization. So just to put it simply, costs per ton has improved by around INR650 versus September quarter last year. So how much of this INR650 is part of the INR400 cost optimization that you are talking about? So that's my first question.
Got it. This is very helpful. My second question is, if we look at Ambuja consol volumes term, can you help us understand, how one should look at over the next couple of years given a large part of the new plant commissioning would not come in before the end of fiscal '25? Would you continue to lose market share or this was just a one-off quarter?

UltraTech Cement Limited

UltraTech Cement Limited CC-Mar24.pdf · 2024-04-29
I have a couple of questions. First, based on results that we have had until now, we have seen volumes surprisingly positive across the board. Given UltraTech's positioning in the industry, I just want to understand if the industry is seeing front-loading of demand ahead of elections and monsoons? And if yes, is there a big risk for both volumes and prices over the next few months? Any color on this would be appreciated. I'll have my second question after this.
That's very comforting. My second question is you had made a point that you would see some deflation in fuel cost last quarter and we have seen better -than-expected performance this quarter. So is it fair based on spot prices, that fuel cost moderation is largely behind us? Or how should we look at from here?
UltraTech Cement Limited CC-Sep23.pdf · 2023-10-19
Very good numbers, Mr. Daga. There have been a lot of questions around fuel cost, but I don't want to bore you. I just want to understand one thing. The company has seen around 20% deflation on fuel cost over the last three quarters, right? I mean from $20 0 to $162. If I do just back of the envelope math, is it fair to say that we would see another 7% to 8% decline and that would be the end of it given where current prices are. I know you can't comment on how prices would move on a daily basis, but given the inventory levels?

Dalmia Bharat Limited

Dalmia Bharat Limited CC-Jun24.pdf · 2024-07-19
Yes. Hi. Thanks for taking my question. So a couple of questions. First, taking the point forward of cost improvement by INR 150 to INR200 over the next three years. Just want to understand your view - how this number or this range changes as you are expanding and becoming a Pan India player. Is there a drag to this number or you have taken that into consideration that you becoming a Pan India player would also drive INR150 to INR200 cost improvement? So that's my first question?
Great. Thanks for the clarification. My second and last question is you talked about INR 113 crores of one -time provisions against your receivables from JPA. Can you just help me understand what is the overall outstanding and what is the risk of this provisions increasing in the future?

SHREE CEMENT LIMITED

Ambuja Cements Limited

Ambuja Cements Limited CC-Mar24.pdf · 2024-05-02
Hi, thank you for taking my question. I have two questions. So first question, taking the Sanghi game plan forward, based on your comment is it fair to say that you target something like 5 million ton from Sanghi in fiscal 25 and secondly, how should one l ook at Sanghi profitability from here?
Great, this is very helpful. So my second question is more from the industry perspective. We saw industry prioritized volumes at the expense of prices during the fourth quarter. And given you and another large player have talked about cost-saving initiatives over the medium term. Is it fair to say that margins expansion will be led by cost control and cement prices may remain sluggish for longer despite a strong demand outlook? Any color on this will be helpful?
Ambuja Cements Limited CC-Sep23.pdf · 2023-11-01
Hello. Thank you for taking my questions. Sorry, my first question again is on cost optimization. So just to put it simply, costs per ton has improved by around INR650 versus September quarter last year. So how much of this INR650 is part of the INR400 cost optimization that you are talking about? So that's my first question.
Got it. This is very helpful. My second question is, if we look at Ambuja consol volumes term, can you help us understand, how one should look at over the next couple of years given a large part of the new plant commissioning would not come in before the end of fiscal '25? Would you continue to lose market share or this was just a one-off quarter?

JSW Steel Limited

JSW Steel Limited CC-Sep23.pdf · 2023-10-20
I have two questions. First, your second half implied numbers for production and sales show that there is no material growth and it's broadly stable versus the second half last year. So, any specific reason why you are not upgrading your production and sal es volume guidance ? That is number one. And second, any number on what kind of steel inventory you are sitting on? The reason I'm asking is because the delta in production and sales in the second half for domestic numbers would imply excess inventory of around 0.5 million tonne, and with the risk of imports rising in the near term, could this mean that we end up with excess inventory in the system for the industry? These are my two questions. Thank you.
Yes. So, if I look at the delta of implied production and the sales number for the second half for the domestic business, it leaves us with around 500,000 ton nes of excess steel. And with the risk of imports rising in the near term for the industry, I just wanted to understand your perspective on how to look at the overall inventory for the industry.