Questions across 19 calls

Somaiah V

Avendus Spark

Coromandel International Limited

Coromandel International Limited CC-May26.pdf · 2026-05-08

Yes, thanks for the opportunity, sir. Sir, my first question is on Phos Acid price for the quarter. Has it been decided? That is one. And in the international market, if you were to procure Sulphur and Ammonia, what is the current pricing?

In terms of this backward integrated capacity that we have added last quarter, so, for the first half of this year, do we see any challenges in terms of raw material availability to run this at the fullest? And also, in terms of margin contribution, do we see to be accretive given where let us say Sulphur price is occurring?

Coromandel International Limited CC-Nov25.pdf · 2025-10-31

Sir, my first question is on the manufactured EBITDA per ton in the fertilizer segment. Quite a robust current quarter. So, if you could just help us in terms of what are the key drivers in the current quarter which helps us to be much better on comparable, let's say, Q1 or previous year quarter. And also, how do we see things based on current subsidy rates and also the raw material price movements for the second half? That is my first question.

My question was on this NPK's gaining market share versus DAP. So, NPK has taken a bit of market share from DAP. So, in case DAP availability improves, let's say 6 months out or 12 months out, how much of this is sticky? How much of this could reverse?

Coromandel International Limited CC-Mar24.pdf · 2024-04-29

Ma'am, first question is on fertilizer margin. So we used to give guidance earlier around Rs. 5,000 to Rs. 5,500 EBITDA per ton. So I mean in the current context of subsidy rates, how do we see this for the next year?

Understood, ma'am. And from an industry price increase, how do we see things because earlier there were -- I mean, in one of the calls earlier, we were saying it is also a function of demand. So how do we see demand or inventory that is there in the system? What is the scope for a price increase?

Coromandel International Limited CC-Jun24.pdf · 2024-04-29

Ma'am, first question is on fertilizer margin. So we used to give guidance earlier around Rs. 5,000 to Rs. 5,500 EBITDA per ton. So I mean in the current context of subsidy rates, how do we see this for the next year?

Understood, ma'am. And from an industry price increase, how do we see things because earlier there were -- I mean, in one of the calls earlier, we were saying it is also a function of demand. So how do we see demand or inventory that is there in the system? What is the scope for a price increase?

Petronet LNG Limited

Petronet LNG Limited CC-May26.pdf · 2026-05-05

Thanks for the opportunity, sir. My first question is on the time charter, which you have mentioned in the footnotes. So, we will be able to get back to normalcy if the Strait of Hormuz issue gets resolved and we will be getting the Middle East cargos. Is the right way to understand? So, we will be able to utilize those three time charters?

Got it. So, and what is the existing contract duration for these time charter vessels? Like six months, still how many, in terms of the existing contract, how many more months remain?

Mahanagar Gas Limited

Mahanagar Gas Limited CC-Feb26.pdf · 2026-02-09

Sir, the first question is initial remarks, you did mention about one of the contracts that you have signed for 1 year in MMBtu terms. So this is equivalent to 0.3x, 0.4x MMSCMD for this year? And is it a take-or-pay contract?

Got it, sir. So you were referring to one that has started from January, the other one will start from April. So these are the two contracts.

Hindalco Industries Limited

Hindalco Industries Limited CC-Nov25.pdf · 2025-11-07

Sir, first question is on the India business. On a Q-o-Q basis, the EBITDA per ton increase of close to $40, $50. This seems to be lower when compared to the LME increase. If you could just help us understand the bridge here, impact of cost of production of the review premium that you are referring to earlier?

So on that note, what is the expectation in terms of cost of production for the current quarter, Q3?

UPL Limited

UPL Limited CC-Sep25.pdf · 2025-11-06

A few questions for Mike. First, in terms of low -cost inventory replacement, is the cycle -- you have come to the full cycle there or there is further headroom based on current raw material prices or utilization levels for second half of this year?

That's helpful. Second question is on Brazil. Considering the growth rate that we have had last quarter, would it be right to think that we have gained market share? That's the first part. Second, in terms of the season, current season in terms of rainfall being in terms of planting, the progress there? And also, any concerns in terms of farm economics that can impact offtake at the later part of the quarter?

UPL Limited CC-Jun25.pdf · 2025-08-01

Thanks for the opportunity, sir. Mike, just wanted to understand, in terms of the season progress, both in the US and LATAM, your thoughts on that, how it's kind of progressing? That's one. And the second question is on the farm economics. So, this has been a bit subdued almost now, almost a year after CY '22 to CY '23 coming off. Is it because the produce is so high, the supply have been doing well? Or is it because of demand? What is our expectation, maybe six months out, can this reverse a bit, can farm economics start getting better, particularly because of a bit of a pricing problem?

Thanks, Mike. Just one follow-up. I think we did mention that there is a bit of a movement from Q1 to Q2 in Brazil. I mean, what would be the reason, I mean, for the shift from Q1 to Q2?

Steel Authority of India Limited

Steel Authority of India Limited CC-Nov25.pdf · 2025-10-30

Thanks for the opportunity. Sir, you did talk about scrap increase QoQ. On value -added products, can you give a similar number?

Sir, also on the by -products, which you said, which also increased and helped on the realization front, is there any quantum, nature of the products and what is the quantum of it?

Steel Authority of India Limited CC-Sep23.pdf · 2023-11-16

So, first question is on the domestic demand between first half of this financial year and currently what we have seen, has demand kind of come off this first half? That's the first question. The second part to that is that you did mention import -- a bit of an increase in imports? This import parity pricing differential has been there for quite some time. What is changing now which is adding a lot more pressure from the import side?

Imports added pressure. So...

Adani Total Gas Limited

Adani Total Gas Limited CC-Nov25.pdf · 2025-10-29

Yeah, thanks for the opportunity. Sir, I have a few questions. So first one, within this PNG volumes can we have a split between the domestic and industrial volumes?

Sorry, sir. In MMSCMD term, can we break this? We are roughly around 3 MMSCMD of volumes and close to 2 MMSCMD of CNG. So, the remaining 1 MMSCMD, can we have a breakup in terms of domestic and industrial commercial?

Bharat Petroleum Corporation Limited

Bharat Petroleum Corporation Limited CC-Jun25.pdf · 2025-08-14

Thanks for the opportunity, sir. Sir, my first question is on LPG under-recovery. So when we book LPG under-recovery, does this also include the normal marketing margins that we would have made? So for instance, if we say Rs. 100 is the under-recovery per cylinder, so this includes the normal margins that we should have or it is just that Rs. 100 is the break-even requirement and this normal margin is not included in that?

So let us say, we get a Rs. 100 hike, so that will compensate or bring us back to the normal level of margins.

Bharat Petroleum Corporation Limited CC-Dec24.pdf · 2025-01-23

A few questions. Sir, first thing is on the Russian crude sourc e. So you did mention M minus 2. So for January, you would have booked by, say, November. Ave rage price, the discount, that's how it will work? Or it will be a November price less discount?

Understood, sir. So, second que stion on the crude sourcing. So what would be on a blended basis a non-Russian crude sourcing cost on a premium? What are the premium Russian crude that we will be paying?

Bharat Petroleum Corporation Limited CC-Mar24.pdf · 2024-05-10

So, first question is on the Russian crude. So, you said 39% of the total imports. So, would it be possible to give at a refinery level, Bina, Kochi and Mumbai of the total 15 million tons roughly that you have indicated?

So, second question, given that the product cracks and the crude sourc ing benefits have been quite volatile. So, what do we look at as a steady state GRM when we are going for, I mean 1.8 lakh crores of CAPEX in next four, five years, what is the kind of steady state GRM you think this business can give us which can help us in cash flows?

Oil India Limited

Oil India Limited CC-Jun25.pdf · 2025-08-13

Sir, my first question is on the NRL projects. So if you could just help us with status of completion. So for instance, the refinery in terms of completion, it's 90%, 95% and also in terms of pipeline length from Paradeep to Numaligarh, the total length, and so far, the completion achieved? Similarly, on the other side, the pipeline to Siliguri. If you could just help us with some details in terms of extent of completion in all these projects would be helpful?

Understood, sir. Sir, in terms of utilization of this expanded capacity, let's say, 6 months from commissioning, ballpark, where should we be able to reach to?

PI Industries Limited

PI Industries Limited CC-Dec24.pdf · 2025-02-07

Yes, thank you. First question is on the AgChem space, so based on your interaction, generally from the industry, the inventory and pricing trends, so is it still in a bit of a decline mode or the decline has now stopped and then things are kind of stabilized? How are you seeing it for the industry, both pricing and inventory?

Got it, sir. The second question is on the CAPEX for the AgChem business, so how are we seeing it for the next one year? What is our CAPEX plan? And also, any MPPs that we will be bringing on?

JSW Steel Limited

JSW Steel Limited CC-Dec24.pdf · 2025-01-24

So, first question is on the iron ore part. Iron ore domestic pricing versus international pricing, we are currently at a slightly elevated linkage compared to what we have been historically. What is driving the tightness in the domestic market? And next one year, how do you see the supply demand, especially with new capacity coming in the domestic market for iron ore? So, will this linkage kind of normalize or it will still continue to hold over here?

So, one last question. So just on the pricing, you did mention the Jan price hikes. So, where would we be in terms of pricing compared to Q3? That is one. And second, also, you said iron ore, there is a bit of a benefit starting Jan. So, if you could just quantify what is the impact compared to Q3.

Oil & Natural Gas Corporation Limited

Oil & Natural Gas Corporation Limited CC-Dec23.pdf ·

Outside of, I mean, KG-98, the incremental projects that are coming online next two to three years. So , what is the production expected from them and what is the CapEx that we need to spend for?

Got it, sir. So, one question on the CapEx. This INR 30,000 crores to INR 35,000 crores of run rate that we are mentioning. Can we just give some color on? You did mention that now in terms of new projects this is a INR 60,000 crores spend. Probably over a three-year time frame. So, what is the level of maintenance, exploration in new project spend if we can give a rough breakup in this INR 30,000-35,000 crores for the next two, three years? Oil and Natural Gas Corporation Limited - 27 - 12.02.2024. Broadly if you see that whatever our CapEx outlay is there, our development project contributes something around 60% of our total CapEx outlay in the development drilling as well as the capital project what we are taking on.