Good to see the management walking the talk. Here are some recent updates shared by the management in an interview:
Complete plegde (around 78%) has been removed by the company in one go!
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Rating upgrade from CRISIL
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Cost of borrowings should go down
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Debt coming down as well and net debt of around 0.5x can be maintained
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Most of the capex going foward will be funded from internal accruals, not looking to raise too much of debt
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Volume Growth Guidance – 20% (2.15mt in FY24 and 2.5mt in FY25)
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EBITDA/ton to sustain around 19000-21000
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Imports from China remain an issue – expecting government to take note of the same and make it a level playig field and enahnce the ‘Make in India’ effort – should also reduce the carbon emmissions in the ecosystem
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Looking to become segment independent (not just infra) – focusing on auto, defence, consumer durable, railways, etc. – none of them will contribute more than 15-20% each – derisking the business model
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People realising the benefits of using stainless steel across sectors
Disc: Invested
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