Transcript of Earnings Call

AI summary - Q4FY26 crude steel production grew 4% to 4.9 mn tons; sales volume up 4% to 5.3 mn tons - FY26 crude steel production up 1% to 19.4 mn tons; sales volume grew 11% to 19.9 mn tons - Q4 sales turnover INR30,541 Cr (+5% y-y); FY26 sales turnover INR110,000 Cr (+8% y-y) - FY26 PAT rose 51%; debt reduced by INR8,150 Cr; borrowing cost down to 6.2% - FY27 sales volume guidance at 22 mn tons; capex guidance INR15,000 Cr for FY27, rising to INR20,000+ Cr in FY28 - Capex projects at IISCO (INR35,000 Cr, 4.5 mn tons), Bhilai (INR30,000 Cr, 3.5 mn tons), Bokaro (INR18,000 Cr, 3 mn tons) - NSR Q4: longs INR53,400/ton, flats INR51,000/ton; April-May NSR up ~INR4,000/ton - Coking coal cost Q4 INR18,200/ton; April-May INR21,000-21,800/ton - Employee count down ~3,400 in FY26; further reductions expected with VRS scheme - Capacity utilization target 22.5 mn tons in FY27 via debottlenecking and operational efficiency; new capacity from FY30 onwards - Cost increase impact in Q1FY27 estimated INR1,400-1,500/ton; price levels supportive - Inventory expected stable in Q1FY27; reduction planned in H2 - Focus on operational efficiency, cost reduction, and sustainable performance including decarbonization