Questions across 3 calls

Ritesh Bhagwati

Alpha Plus Capital

Deepak Fertilizers and Petrochemicals Corporation Limited

Deepak Fertilizers and Petrochemicals Corporation Limited CC-Jun26.pdf · 2026-05-29

So my first question was on the Chardham Chemicals that we have acquired. So like we have paid around INR120-odd crores for 100% stake. Now can management just walk me through in terms of the valuation breakup, like what are we paying for it exactly? Is it the licenses, the assets, technology, order book? And also, if you can give some guidance as to when thi s particular stake will get operational and what sort of revenue and EBITDA we can see over the next 1 or 2 years?

Okay. That's a great understanding that you have given. Lastly, on the CCDs that we have issued for DMSL, like that INR800 crores. Now I just want to understand like who holds these CCDs, like, is it some third party or is it some promoter or related entity? And also, I just want to understand as to what is the conversion price, the ratios and what sort of trigger terms that we have finalized for that? Because what I want to understand is what is our stake eventually if such conversion happens? Subhash Anand: No, the CCD was issued last year in quarter 1 actually. And that CCD was issued as a mix of third party as well as a promoter entity participated in that. The split was INR 500 crores was issued and subscribed by third party and INR300 crores by promoter entity. Since they are CCD, so it has a fixed conversion ratio. No, it has a fixed conversion ratio. The number of shares are fixed at this point of time because this is how the CCD can be structured. And issuance is post roughly around 30 months when the conversion date is due. So it's just 12 months so far. So we still have time before the issuance gets converted.

Deepak Fertilizers and Petrochemicals Corporation Limited CC-Nov25.pdf · 2025-11-06

So I basically just wanted to understand what is the peak asset turn we can expect from these 2 plants that are expected to get commissioned? And by when can we reach that peak utilization? Like is it FY '28 or FY '29? And lastly, like what kind of ROCEs do we see? Subhash Anand: Okay. The 3 year is a normal time when we expect these plants to reach to normal capacity utilization. So FY '27, FY '28 and FY '29. And that's what we expect. FY '29 is a year when things will be realized in terms of capacities for us. Asset turn for this business is roughly around 0.5, 0.6. This is what we see in asset turn. This is normal for this industry and similar we'll see for this also. ROCE is normal. We are expecting 20% plus businesses. This is what we expect in this, for the new project, and it should deliver.

So this asset turn you mentioned is for both the plants? Subhash Anand: Yes.

Lloyds Metals And Energy Limited

Lloyds Metals And Energy Limited CC-May26.pdf · 2026-05-06

Thanks for taking my question and first of all, congrats on great set of numbers. Firstly, it is in regards to our DRC assets. So we saw our commercial production of 12,000 ton per annum copper cathode plant at Surya Mine got commissioned in March '26. And plus we have done an acquisition of another 49% stake in Chemaf. So what I want to, first of all, understand is how are we seeing this ramp-up of 10,000 tons per annum to 30,000 tons per annum happening? So what is the time line for that? Secondly, what I also want to understand is how are we seeing this integration of DRC assets happening and what sort of revenue and EBITDA contribution can we see in this financial year?

So basically, I want to understand our stake acquisition that we have done for Lloyds Panguna, which we will engage with Bougainville Copper Limited. So if you can just provide some clarity on the strategy road map, anticipated time line for securing mining rights?