My first question is on the two cap tive coal blocks. Utkal B1, we are expecting 4Q commercialization. Is it possible to share? Have we received all the approvals, the mining ledger signed, and it fits on the execution on the ground, which is happening now? And also if you could guide us with respect to Utkal B2 mine?
Sorry, I missed the last word, Vishal. What did you say, activities are at….
My first question is on the volumes, given we are seeing good progress on all the expansion projects, and they remain largely on track. What sort of volume can we expect overall for FY '25?
Okay. Got it. And from the blast furnace BF and BOF2, do we expect commercial production to start from the third quarter onwards?
Good afternoon everyone and thanks for this opportunity. M y first question is on the plastic volumes. Now if we consider -- if you look at last 4 years, our volumes quarterly has been in the range of 3,000 to 4,000 tons. So just want to understand what is the constraint here? Is it a capacity constraint or is it the raw material -- the scrap constraint? I just want to understand this better. And going forward, what is our outlook and guidance on this?
Understood, Yogesh, sir. Sir, one question on the RCM. So on the ground, has the transaction started to happen as per the new policy or it is still a few months away?
Thanks for clarifying accounting treatment which was kind of highlighted in the notes. Sir, my first question is the ongoing Red Sea issue. It was good to see some growth despite the logistic issues which are continuing. Is it possible to share what sort o f alternate arrangements we are doing, and do we return back to our normal growth of around 20% plus from FY’25 onwards?
And what are we compromising or sacrificing when we are diverting? Is it at the expenses slightly lower margins?
Sir, my first question is on industry demand. Is it possible to share your sense, what would have been the industry demand growth in second quarter? And in your presentation, we see a lot of down arrows across regions. Is it possible to give some color as to some regional color and in our growth, I mean it looks like we would have grown in some region, and we would have seen some decline. So some region-wise color specifics will be very helpful, sir.
Okay. But sir, east and south, I mean there are a lot of down arrows, I mean a firm decline on our volumes in these 2 regions or...?
First question is on the prices. I mean, it's been continuously weak over the last few months. Is it possible to share what sort of realization or price decline did we witness? And how are July prices versus average? And how should we expect prices to move forward? Do we expect some strength only towards the second half.
And July would be versus average would be down 4%, 5%.
First question is on the demand, which I'm trying to understand. If you could share what would be the region-wise demand in fourth quarter and FY '24? Just some broad numbers. And on the presentation, we are seeing East struggling in infra and commercial. If you could just share your outlook on how do we see FY '25 for this particular market?
Sir, this is for fourth quarter or for the full year?
I just have one question left. If you could please guide us on the capital structure? And what sort of debt do we expect to see on the balance sheet on a steady state basis? This question is because in the first half, we've given a substantial dividend and now we are sitting on almost INR6,000- odd crores of net debt. So are we open to -- I mean, for the dividend requirements, etcetera, are we able to run a net debt balance sheet? Or this is just a timing thing, and we would have a close to net debt 0 balance sheet going forward?
Understood. Just 1 more question. Given we are talking about the very long -term target of 2 million tons. We're losing 2 mines, which is Zawar and RA in 2030 or we would be able to retain it. Is it possible to share what sort of, I mean, cost escalation scenarios are we building in internally, given this expanded capacity will come in around that time itself, where would we have to participate in the auction or at least match the highest bid?
My first question is on the operational guidance for FY ’25. Now, if we look at FY24, it’s been almost a stagnant year as far as refined metal is concerned and we are now guiding this for 4 % to 5% growth in ‘25, much lower than what our capacity is of around 1.2 million to ns. So, just want to understand given all the projects are complete at the current capacity , is 1.1 the peak capacity to consider in future years also and future growth will come in only after more expansion?
Second question is considering the demerger of metal, silver and recycling some other division as well, what is the status and update on that, sir?
Good evening everyone and thank you for this chance. F irst question is given the volatility in commodity prices have we like done in Hindustan Zinc for aluminium also, have you done any strategic hedging for this quarter or for future quarters in the near term? Vice-chairman: Any other questions, Sumangal?
Yes, a couple of them. One is we have an outstandi ng intercompany loan of around USD 400 million. When is it due? And I mean if you remember correctly this December we are supposed to reverse the entry. Are we on track for that. A nd the last one is I just want to know what's the latest on to significant mines w hich are coming up Ghogharpalli and Sijimali one in the coal and the second for bauxite which is a very significant contributor to our entire journey of cost reduction. So what's the latest timeline as far as commissioning is concerned for these 2 mines in particular? These are my questions. Vice-chairman: Thanks, Sumangal. So Ajay, quick one on the outstanding loan, $400 million.
Thank you for the chance. First question on the aluminium business our volume guidance is very similar to this year. So we're not expecting any contribution from BALCO's expansion is one clarification there. And secondly, our cost also is around USD1,700 r ange which is what we've achieved in 4Q. So directionally, can we say that large part of the commodity deflation is already factored in our cost?
Yes that’s answers my first question. Second just want to reconfirm when is our brand fees contract expiring and when is it due for renewal?
Good morning sir. Thank you for the chance. My first question is on the realizations. So we are expecting realizations to be weak based on the dealer feedback and in your opening remarks also you said Q1 was down 2% odd, but that's not visible in our results. So is there any one -off or how should we see the reported revenue or realization for this quarter?
Okay, I understand. And for next quarter can you guide what sort of current trends of realization versus average of last quarter? I missed those numbers?
First question is, is it possible to give the breakup of Jaypee and organic volumes in fourth quarter? And I want to understand basically on a year-on-year basis, how much ex of Jaypee has the volume grown?
Okay. And last year, fourth quarter, it was 0.1 or something, Jaypee volumes?
Good morning sir. Sir, my first question is, we have some advances to the NMDC steel company. So what is the status of that? Any timeline as to when do we expect that to recover?
Okay. And sir, do we earn any interest on this advances or is it interest-free?
My firs t question is on the Mozambique acquisition. Is it possible to share what sort of volume, cost structure and investment are we looking at? An d the time period as to when the tentative mine can start commercial production?
Sir, is it possible to quantify some volumes or cost structure, which we can commercially produce from these mines?
Yes, Good Morning Sir, Thank You for the opportunity. Congratulations on the sector-leading performance and Bhandariji thanks for the reassuring of the commentary. First question on this railway connectivity at all side by FY '28. Is it possible to quantify what sort of freight cost savings can we expect over the next 2, 3 years from these initiatives? Maybe this is the first one, then I'll go ahead with the second one later. Subhash Jajoo: Yes. The current differential between rail and road, rail is around INR 2.60 per ton per km , whereas road cost is around INR 3 per ton per km. And currently, our dispatch like in last quarter, 88% was through road and 12% through rail. So as by 2028, we should be able to make move much more material through rail. And accordingly, these cost economics will play. The differential is around 10% to 12% between rail and road on a per ton per kilometer basis.
Okay. So I mean, something like 75:25, gradually is what we are moving at? Subhash Jajoo: Yes. We should definitely be able to move at least 25% through rail in next 3 to 4 years.
First question is on our expansion plans. In the past, we ’ve kind of alluded to a range of 3 ,500 to 4,000-odd crores of net debt to kind of start to working on expansion, we are almost touching that range. So, just want to know what is the status, how prepared we are and when are we kind of looking to explore Brownfield expansion opportunities?
So, in terms of our North capacity, we’ve been consistently maintaining that we are gaining market share there. And if I look at the peers, few companies are reporting upwards of 90% utilization. So, is it possible to share what sort of utilization did we run the plant on an average for FY’24?
Hi, good afternoon, sir. Thank you for the chance. My first question is on the broad corporate structure. We are now having three separate listed cement companies. So what's our long -term strategy here? Do we intend to keep running three separate companies? And in the light of MSA, I mean, are large part of the benefits already captured? Or a potential some bit of consolidation could have further benefits on the cost side or some synergy side?
Understood. That's very useful. My second question is on our market share target. This 20% I believe is basically from our organic capacities in organic expansion. So if I just do some rough math, from currently around 14% to 20% in a 6% -10% kind of a growing market also, we will require a high team kind of growth on the sales volume over the next 4 -5 years. So practically, I just want to understand how is the bottom-up plan or strategy here? Can we practically achieve this kind of high growth from existing capacities without really distorting or deflating the prices in the market? Some thought process here would be helpful.
Hi, good afternoon, sir. Thank you for the chance. My first question is on the broad corporate structure. We are now having three separate listed cement companies. So what's our long -term strategy here? Do we intend to keep running three separate companies? And in the light of MSA, I mean, are large part of the benefits already captured? Or a potential some bit of consolidation could have further benefits on the cost side or some synergy side?
Understood. That's very useful. My second question is on our market share target. This 20% I believe is basically from our organic capacities in organic expansion. So if I just do some rough math, from currently around 14% to 20% in a 6% -10% kind of a growing market also, we will require a high team kind of growth on the sales volume over the next 4 -5 years. So practically, I just want to understand how is the bottom-up plan or strategy here? Can we practically achieve this kind of high growth from existing capacities without really distorting or deflating the prices in the market? Some thought process here would be helpful.
Firstly, congratulations, Mr. Pai on your reappointment and extension of term. Sir, a couple of questions. Firstly, just want to understand, I mean, I am not able to clearly understand what is this 85% probability of no further increase in cost? Can you explain how do we arrive at this number? Number one. I am talking about Bay Minette.And second, since there is such a significant deviation, is it possible just for some more comfort to give some breakup of this $4.1 billion? What is the civil structure costs, equipment costs, some breakup to kind of better appreciate this change?
And during what phase of this next three years of construction do we move to more closer to 100%? I mean, 90%, 95%, how is this timeline?