Sir, just wanted to understand that our semi sales at almost 14% still stays very high. So is there any chances that in the next year we could come down this? And out of the 19, 20 million tons of total production, what is your own sales target, sir?
So sir, my question was that next year when we are targeting 20 million tons of crude steel production, what would be our sales target? And can we bring down this 14 million, 15 million tons of semis or it will remain at that level?
Sir, I just wanted to understand when you are talking about an EC limit of roughly about 55 million tons, we had this option to mine 20% extra from some of the mines. So are you taking…
Okay. It's including all those basically. And...
Sir, just wanted to understand that you find that this steel probably you have taken a call that now is not the right time. But for the plastic pipes, why we have -- what are the difficulties we have faced for which we have to drop the project? And now since both the large-scale projects has been dropped, what is the plan to -- for the cash which we are holding?
And now the plans for the cash because our cash generation.
The spot prices versus the Q3 average, how much up and down they are?
No, that is for the pellet the steel products the prices are down as of now?
Good afternoon, sir, and thank you for the opportunity. Sir, I just wanted to understand the iron costs given on the standalone level, if I see, there was a sharp uptick. Any particular reasons for the same?
Yes, sir. Sir, I just wanted to understand our iron costs on a standalone level has jumped up pretty sharply. So, what are the main reasons behind the same?
Sir, you mentioned that the prices have started to decline from June. Just wanted to understand what are the current prices with respect to 1Q averages? How much it is down?
The steel product s basically Pellet, Billet, Wire Rods and HB wires, including Ferromanganese, which you would like to tell us.
Sir, I just wanted to understand, though we have managed to gain the volumes despite lower exports, our EBITDA per ton has also been sequentially getting lower. So are we chasing volumes over the margins? And is that the same because we have promised 20% kind of the volume gro wth? So how should we look at our product mix? And would deterioration or improvement for hereon?
Sir, if -- for my understanding purpose only, if I may ask the export margin versus the lower end of the product which you're selling, the margin differential at this po int of time? Just wanted to see if you need to pull back the lower end and, when the export market opens up, how the things would improve for you. So what is the gap between the export which you -- on an average term?
Good afternoon, Sir, and thank you for the opportunity. I just wanted to understand one thing from the NPI project by which quarter do you think that the entire fund will be ramped up and would give us economic hedge in terms of the nickel prices and once this plant is ramped up, what are the plans with the cash flow which would be earning from that project?
So, the 1-million-ton furnace which we are putting up there for that the cash flow firstly would go for India and this cash flow probably arriving later on so would come back later on. Is that a right understanding that Rs. 750 crores we were supposed to invest in the Indonesia further.
I just wanted to understand, we used to speak about nat ional stainless steel policy. Any further information on the same? If that proposal has moved anywhere?
Sir, my second question regarding the co -branding exercise which we are talking about. Just wanted to understand the scope of the volume or the margin improvement you had because you said that most of these people are already our customers, so on this segment, it helps us just most in the further volume growth or the margin or if you could give us some more insight into it?
Sir. I just wanted to understand when we give EBITDA per ton guidance of 19,000 to 21,000, is where now we are giving it including JUSL or it is still excluding JUSL?
So, with JUSL, it could be 3000 to 4000 higher per ton basis, is that the correct assumption?
Sir, I just wanted to understand our CAPEX targets. Given the current depressed cash flows, what percentage of our announced CAPEX is mandatory? I mean, we are in a stage where we can't stop the CAPEX. And what percent can we actually scale back if our cash flows are not supportive?
Sir, my second question pertains to our own captive iron ore availability. Given our availability is much higher but our total captive consumption is still less, how should we look at it in the next two years our total captive iron ore consumption basis?
I want to understand what percentage of the iron ore requirement we are meeting captively right now? And since we have an incremental plan, including the Odisha increase in EC limit, what it could be once all these mines are ramped up to your desired level?
So, it has declined on the Y-o-Y basis?
Sir, if I just look at the standa lone minus the consol EBITDA, there is a 210 crore. Just wanted to understand which subsidiary is contributing that much of money ? Because this number is pretty fluctuating on a quarter, every quarter.
And how should we look at this number going forward?
Congratulations on good set of numbers. Sir, my first question pertains to the aluminium division. The LME has fallen sharply while the cost hit of the alumina is there probably would come in 2Q. So in light of the current situation, do we still feel that we would be able to hold our COP guidance annual basis? And how does the 2Q looks like in terms of cost of production in aluminium division, specifically? Vice-chairman: Any other question?
Yes, sir. And second question pertains to just r econcile. One more question. Second question pertains to our $10 billion EBITDA projections. Basically, just to reconciling, we are expecting roughly about 4 billion from aluminium and roughly about 3.5 billion from Zinc India. Is that the number reconciled? Or we have different projections? So these two only. Vice-chairman: Yes. So Vikash, the very broad breakup of 10 billion is as follows. On the aluminium, think of 3.1 million ton, think of a cost of $1,600, think of LME of $2,600, think of a premium of about $350. And on that basis, think of an EBITDA margin of $1,300 into 3.1 is how you get to $4 billion. Clear, Vikash?
I just wanted to understand that since we are demerging our business, a bulk of our debt is in the stand-alone business, while the stand -alone business current EBITDA probably would not be sufficient enough. So in terms of debt redistribution, can you give us some insight that how this stand-alone debt would be redistributed among the other companies?
Understood, sir. Second question pertains to our oil and gas business, while the realizations and volumes are lower, operating performance had been pretty good. So am I missing something because sequential also, there was a significant improvement.
Sir, just wanted to understand one thing out of this year, INR1,800 crore EBITDA. We got a sizable portion from the sale of steel inventory as well, so on a like-to-like basis, if we adjust for that, what was the core business EBITDA for this year? And how does our guidance look in that light?
Understood, sir. Sir, my second question pertains with our steel business, especially TMT. As you pointed that -- Gujarat market is essentially 10x than what is our current capacity, so are there any plans on that side also in terms of us putting steel capacities, TMT?
Sir, I just wanted to understand this quarter's EBITDA per ton drop. While we have done much bigger volume in India, still the EBITDA per ton got dropped. So is anything specific in the number, which has led to the decline despite better volumes?
Understood, sir. Sir, my second question, pertains to our order book basically, especially in India, since probably we are entering in the election season. And at the same time, 4Q is the high -- best execution period as well. So do we see that we would face a little bit challenges in 1Q FY '25 or 2Q FY '25 because now order book addition temporary could drop down because new orders would be -- new order would not be coming while our execution, it would be very strong.
So, just first question while we have a tall target of 40% kind of a growth, so are we ditching the EBITDA per ton guidance of 5,500 plus because we have to be very aggressive and can't have both EBITDA per ton improvement as well as that kind of volume?
So, we will be able to target both the expansion in the margins as well as that kind of volume as well?
Sir, I just wanted to understand, given that now we have an inflated CAPEX on the Novelis side, does our plans on India, for example, the Aditya Mahan brownfield expansion of the aluminum plant would take a backstage?
But that is more on the value-added side, right?