Analyst Meet - Transcript

AI summary - Q1 FY27 crude steel production 4.8 mn tonnes (-2% y-y); sales volume down 7-8% - EBITDA INR4,356 Cr +50% y-y; EBITDA margin 16.7%, best since FY22; EBITDA/tonne INR10,464 - PBT INR2,159 Cr and PAT INR1,636 Cr, ~150% growth y-y - NSR Q1 INR57,100/tonne; Q2 NSR expected down INR1,000-2,000 due to monsoon - Imported coal cost Q1 INR21,300/tonne; expected to reduce INR1,000-2,000 monthly in Q2 - Capex target INR15,000 Cr for FY27; expected to rise to INR20,000-26,000 Cr over next 3-5 years - Cost reduction initiatives targeting INR2,000-3,000/tonne savings in FY27; INR2,000 net savings by FY29 - Debt stable at ~INR21,700 Cr; debt-equity ratio improved to 0.36; finance cost down to 6.24% - Subgrade ore sales target 3 mn tonnes in FY27; iron ore sales Q1 INR574 Cr (+INR400 Cr y-y), EBITDA INR150 Cr - Finished steel mix improved to 89%; semis conversion ongoing; new TMT mill at DSP by late 2027 - Wage revision provision to be evaluated in Q4 FY27