Ladies and gentlemen, good day and welcome to the Birla Corporation Limited Q4 and FY 2026 earnings conference call hosted by HDFC Securities Limited. As a reminder, all participant lines will be on listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I would now like to hand the conference over to Mr. Rajesh Kumar Ravi from HDFC Securities. Thank you, and over to you.
Thank you, Yashaswini. Good day, everyone. On behalf of HDFC Securities, I welcome you all to Birla Corporation's Q4 and FY 2026 earnings call. The Birla Corp management will be presented by Mr. Sandip Ghose, MD & CEO, and Mr. Aditya Saraogi, Group CFO. I now hand over the call to the management for their opening remarks, which will be followed by Q&A. Over to you, Sandip, sir.
Very good morning or good afternoon to all of you. Thank you for joining in such large numbers on a Monday morning. We know Mondays are busy days and lots of activities have happened around the country, lots of announcements. We do not want to take too much of your time in today's call. Most of our statements have been contained in the press release, which you have seen and which I find has been also captured by many of the analysts. We will dive straight into some of the operating parameters, and then I will get into your questions. This is Sandip Ghose, Managing Director, Birla Corporation. With me, I have Mr. Aditya Saraogi, our Group CFO, and on the operations side, I have Mr. Ratnesh Rushi, who is our CMOP, Chief of Manufacturing and Projects, and Mr. Kalidas Pramanik, who is our CMO, Chief Marketing Officer.
He is present here. In short, as you would have seen, we had during the year a few challenges and marginal setbacks, especially in regard to the operations of a couple of our plants. But we were, I think, able to overcome them. Also sticking to our strategy, we were able to make the most of the tailwinds which were observed during the last quarter and making the most advantage of it in the marketplace as well as in our operation site and been able to deliver a healthy set of numbers, we believe, or which we find satisfactory for ending the year on a reasonably good note. As we look forward, I know we are all staring at many uncertainties and variables.
So any kind of prediction has to be tempered with caution for the unknowns which would be applicable to all, not just us companies in the industry, but the country as a whole and maybe the entire global economy, especially some of our neighboring countries. We are sort of taking it as it comes and will not be making, as it is, we don't make much of forward-looking statements. But even going forward, I think we will be cautious in our guidance for the months ahead. We are in a very dynamic and volatile situation, as you would know from the day we declared our results on Saturday. Till today, we have had announcements from no less than the Prime Minister himself in terms of some of the clouds looming on the horizon. We have to look at each day separately and go forward.
But I think two things are there. As far as we are concerned, we are on a solid footing in whatever we have done and what we have demonstrated, hopefully, to the market and to all of you who observe the company, follow the company closely, that we are not the ones who do knee-jerk reactions or veer from strategy. We set our course in a particular way more than three years ago, post-COVID, and we have by and large been able to stick to that, adhere to that, and without getting distracted by temporary ups and downs or some regional imbalances and disturbances. With that, I hand over to Mr. Aditya Saraogi to give you a broad overview of the numbers.
He's fresh from the CNBC interview, wherein also he has given, I think, an overview, which many of you have heard, and I found some of you have also reported on that. We will get straight into it and conclude the meeting as soon as we can. We would also request you to be focused on your questions and what is relevant because we may not be able to unnecessarily speculate much on the future. Those futuristic questions, some of that which sometimes comes up in the natural course, ask only what you think is immediately relevant in the interest of time. Thank you very much.
Good afternoon, ladies and gentlemen. In terms of our performance for this financial year, we have done a growth of about 4% in volume. For the year was close to about INR 800 crore, and quarter ended March was close to INR 1,000 crore. Apart from the quantitative factors, there are certain qualitative factors where we have taken conscious first, and we are seeing positive results. For instance, in the case of blended cement, we have moved from 82% in the last financial year to 88% in the current financial year. In the trade segment, from 70% in last financial year, we have moved to 77% in this financial year. Our lead distance has come down from 360 km- 357 km in this financial year. And our Mukutban volume has improved from 24.6 lakh tons- 27.7 lakh tons in this financial year.
With that, I open the forum for Q&A, and we will be glad to answer specific questions that you have.
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touchtone telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. We will take our first question from the line of Sukrit D. Patel from ICICI Venture. Please go ahead.
Good afternoon, team. I have two questions. The first question to Mr. Ghose is, looking ahead, how do you see Birla Corporation shaping its growth in the cement and building materials for the next coming quarters, and particularly in terms of capacity expansion, sustainability initiatives, and brand placement in the premium space? That is my first question. I will ask my second question after. Thank you.
It will be helpful if you would have asked your second question as well, but I will answer your first question. As you know that our capacity, we do not have any major capacity expansion plans, unlike many others who have announced in the past. I do notice that some people who had announced capacity expansions are on a rollback or have announced some rollback or slowdown in their capacity. We have not done any aggressive capacity expansion announcements in the past, so we will proceed according to that. There are no major changes from whatever is already there. We know our Maihar Line 2 is a work in progress. Along with that will come the new grinding units which are linked to that, which will add between Eastern U.P. around Prayagraj, some of those. Beyond that, we are not really looking at those acquisitions, expansions.
With the Maihar Line 2 coming by FY 2029, we would go up to 27.5 million tons is what we are looking at. What you would see in terms of our strategy so far, you see our total numbers. This year we have reported the highest ever number with our existing capacity. What is happening is our strategy of moving progressively towards almost 100% capacity of blended cement. We are making steady progress despite the change in the market composition, because in our markets, core markets where we are, the way markets are expanding and with the investment and plans that we have done over a period of time, we are finding there's greater acceptance of our blended and value-added cement. You'll find therefore, the composition of our premium volume in our total kitty is systematically increasing, not just across units but across regions also.
How our Mukutban volumes are progressing. There again, in our core markets, we are able to acquire greater market share and that too through our blended. This kind of efforts will continue. We've installed our third line in Kundanganj. That will give us again some play in our core and profitable U.P. market, and all of that will again come from blended cement. Unlike some people who have set up new units, grinding units in Uttar Pradesh, we are aware of, but they are grinding OPC over there. That's not our idea. We want to do it a value-added blended cement, and that too our premium brands. That is basically how things will move. We are not talking of any big bang expansion just now. There are some, as you know, mines acquisitions, et cetera are happening.
Those are much more futuristic, and we'll talk about that in the days to come or years to come. Thank you.
Thank you. My second question to Mr. Aditya is, from a forward-looking point of view, I want to understand your plan of action on how you see capital allocation evolving to balance growth investments, reduction in debt and shareholder returns, and what structural cost levers are being built today to ensure margin stays strong in the coming quarters. Thank you.
See, in terms of capital allocation, there was about INR 4,000 crores-INR 4,500 crores CapEx plan undergoing at this juncture. We are taking our capacity, one part we just concluded in the last financial year, where we went from 20- 21.5. Now in the next two years, we are going to take it up to 27.5. Most of our internal accrual is going to be allocated towards that Capex program. You will not see any debt reduction. In fact, the debt is going to go up in absolute terms, though, in terms of debt to EBITDA, it will not exceed 2.5 is what our outlook is. As far as cost reduction is concerned, one major driver is that we have just started mining in our Vikram coal mine.
The full-fledged production is going to come from next financial year. That is going to be one major driver into five cost reduction.
Thank you, and best wishes.
Thank you.
Thank you. Next question is from the line of Shravan Shah from Dolat Capital. Please go ahead.
Hi, sir. Thank you, and congratulations on better operating performance this quarter. Sir, before asking question, just to clarify or maybe reconfirm whatever Saraogi sir has said on the CNBC, kind of a 20 million volume in FY 2027, which is close to around about 7% growth, INR 800 crore EBITDA per ton, INR 900 crore CapEx for FY 2027, and some INR 50 odd price hike, which is there in April, and INR 150 crores-INR 175 crores cost per ton increase from Q1 onwards. Just wanted to reconfirm that this is what we are looking at.
Just one small variation. I said close to 21 million ton. I did not give a specific number. I think we will figure this in terms of volume growth.
Okay. In that scenario, so far as on the volume front, if I exclude the Kundanganj and the entire other capacity, even for entire full year of FY 2026 is, one can say close to kind of a 99% utilization is there. Whatever the growth in the volume in FY 2027 likely to come is primarily on the 1.4 million ton Kundanganj that we have started. That the way one can.
And we are doing that in Kundanganj also.
Okay. Got it. On the couple of data points. Particularly on the clinker front for Q4, what was the clinker and in terms of fuel mix also. You have said the Vikram coal, the full-fledged production will come in FY 2028. This year, how one can look at and how much kind of a saving this year and maybe the next year once it will reach the full-fledged. What is the cost difference? How one can look at that part?
Sir, coming to Vikram, this year, the annual capacity is about 3.6 lakh tons, and this year we expect to do about 1.2 lakh tons or thereabout. Next year, we expect to achieve full capacity. To give you a sense of the cost, our landed cost of Vikram is going to be in the region of INR 1 crore- INR 1.05 crore. The current prices of domestic coal is around INR 1.45 crore. That will give you a sense of the cost arbitrage that we will get from Vikram coal mine. What was your other question?
What was the clinker cost for
Clinker cost in Q4, it was INR 1.53 crore.
Okay, INR 1.53 crore. Mostly in Q1, primarily the packing bag cost, which will be INR 80 crore-100 crore and here also-
Packing bag and fuel.
Fuel. Okay.
The diesel cost will go towards increasing logistics cost a bit.
Okay. Got it. Just for clarity in terms of the capacity, 1.4 million ton each for Prayagraj and Gaya phase one. This we will be starting by FY 2028 and/or it would be maybe Q3, Q4 of FY 2028?
Sorry, sir?
Sir, Q3, Q4.
Okay. Q3, Q4 that we will be starting. In terms of the share, you said that now we are looking at 100% kind of a blended cement, which will be the premium share, which will keep on increasing. This current 63% premium share, how one can look at to inch up and the blended cement also 87%, when one can look at kind of 100% kind of a number, and how this will help us in terms of the extra EBITDA.
See, it is difficult to predict exactly how, but what you see in our trajectory, quarter to quarter, year- on- year, if you see, we have been moving in that direction. This is despite the market composition changing. As you know, in most markets, we have seen the growth in non-cage segment increasing, and consequently, there is an OPC segment which has gone up. But we have not been lured by that. We have stuck to our position of pushing our blended cement and the premium cement up, and that is a strategy which we will follow consistently. We are not veering from that, and that is the point to be noted from your thing, that you will find that we are doing that in a very consistent manner.
But it is difficult to say when we will reach 100 or what is the level we are today, whether that level will remain or there may be a slight slippage or reversal on a quarter to quarter basis or something. It can be. Those are subject to market variations. But we are extremely clear on that strategy. What is further thing we are going to do on the brands, et cetera, that only we cannot talk about now. But we were the ones who, among the, I do not like to use the term, the B category players. We were the first to move heavily towards premiumization, and we have gone in there aggressively over the years, created a new flagship brand, Perfect Plus, which has now got practically a footprint in all of Northern India to Central India. It is gaining traction and all of it.
That strategy has worked. We will also hope to lead innovations in that category because others have also moved in that direction subsequently who were the B segment. We have seen some amount of dilution in the equity of the A category players, without naming them, in terms of their price positioning, which has put us at par with many of them, or even higher than many of them in our core markets. That is the direction we are moving. We have the advantage of being a smaller player with high capacity utilization, so we are not really under pressure to ramp up. As I said, some people who have added capacity are having to even grind OPC, which is a very unusual thing, in the grinding units, rather than taking the OPC from their mother unit plants, which are fairly close by.
We are not doing any of that, even if there are incentives available somewhere. We will stick to that, but you can't really predict exactly when we will reach 100% or whether that 100% will remain constant, or there may be a slight reversal on a quarter- to- quarter basis.
Yeah. Sir, lastly, the incentive in revenue in Q4 is just INR 100 crore, and if that is the case, how one can look at FY 2027 incentive on a full year basis?
See, incentives in Q4, we have booked INR 140 crore out of which about INR 90 crore was relating to earlier years, and INR 50 crore was relating to the current year. Okay. In the current year, we have the average quarterly revenue to about INR 24 crore. You can take to the tune of INR 24 crore. The incentives that we booked in this quarter was relating to the earlier quarter. In so far as the next year's concerned, with cement demand coming on stream, we expect the incentives to go up to around INR 130 crore.
Okay. Got it, sir. Thank you, and all the best.
Thank you. Ladies and gentlemen, in order to ensure that management is able to answer queries from all participants, kindly restrict your questions to two at a time. You may join back the queue for follow-up questions. Next question is from the line of Siddhant Dand from Goodwill. Please go ahead.
Yeah, hi. I wanted to understand why the working capital got very tight with the cash flows from operation. Any particular reason?
Yes. We consciously started building up stocks because of the geopolitical situation. We were anticipating some tightness in so far as particularly the coal is concerned, for coal and the fuel is concerned. So instead of the normal strategy of driving down the inventory, we consciously built up inventories that way.
Understood. What's the current debt at the end of the year because of the investments? I couldn't get the net debt number.
INR 2,100 crores.
INR 2,100 crore was the net debt number. Okay, great. What do we expect the peak debt, just the range for the CapEx cycle?
In this CapEx cycle, our expectation is that the peak net debt should be in the range of INR 4,000 crores.
Peak net debt in the range of INR 4,000 crores. Understood. What are the interest costs, assuming the current rates, that you are expecting for FY 2027?
It's difficult to give an estimate on that because most of our term loans are linked to external benchmarks.
It's EBLR.
So that is why it's difficult.
Okay, just one final question or condition, sir, that we keep-
I'm sorry, your sounding muffled, Siddhant. We can't hear you, Siddhant?
around that business.
Siddhant, please repeat your question.
Hello.
We are unable to hear you.
Yeah. Hi. Can you hear me now?
Yeah.
Yeah. Just for the jute business, have we considered getting in a strategic investor or turnaround because it's been taking quite a bit of time.
No, we don't have a problem in investing. Jute business turnaround last year, it was a very exceptional year when jute prices have reached abnormal heights, historical heights it has reached last year, and what kind of levels which nobody has seen. It is due to a multiplicity of factors, including the stoppage of imports from Bangladesh and a variety of factors. That has thrown many people out of gear. There are many jute plants which have actually shut down, and jute mills which have shut down, or people have reduced their mandates, the weekly working to four days or three days in a week. All that has happened. This has been a very abnormal thing. We don't need a strategic investor. We know the business. We have been in the business the longest among any of the current players, the management.
As you know, we're the oldest Indian jute mill. We know what is to be done, but it's a matter of time and opportunity. We expect now, though it's forward-looking, that with the change of government in West Bengal, jute will receive a different kind of attention, and there will be greater coordination between the center and the state government. Because so far, jute, as you know, is a central textile ministry subject. There has been a lot of interest, especially from the current textile minister, Giriraj Singh. But the center and the state has not always worked in sync. To give an example, whereas textile is a PLI industry and there has been a lot of PLI activity has happened in textile for other materials, in jute, nothing has happened. I personally met earlier the textile minister, Mr. Singh, who has visited.
They have been urging the industry to look at innovations, the industry to look at new products rather than rely only on government orders, et cetera. None of that was really happening. There are a lot of structural systemic issues. Hopefully, if the government, there is greater attention. Over there, we have a new head of the NITI Aayog, who apart from being an economist, he was last time elected from the jute belt. He has gone. I am personally optimistic in a lot of positive policy changes, which will show improvement in the jute industry per se, something which has not happened for many, many years.
Understood. Thank you.
Thank you. Next question is from the line of Saket Kapoor from Kapoor & Company. Please go ahead.
Namaskar, sir. Hope I am audible.
Yes. Please go ahead.
We can hear you even without the phone because you are just one kilometer away from us. Even if you don't speak into the phone, we will be able to hear you, Saket.
Okay. Thank you, sir, for your comments. Sir, firstly, our foray into the RMC and the construction chemical business, if only so you can outline to us what are we eyeing and exactly in this space where we intend to make our mark.
First of all, on RMC, our strategy of RMC is very different from others, in the sense that many other people who are investing in RMC, including the largest players, they look at RMC as a channel for their own cement because their own capacity utilization of cement is much lower. While they are also trying to certainly move up the value chain, but one of their main drivers is they can use their own cement. Whereas for us, the RMC is a matter of certainly climbing up the value chain, but it is more importantly a question of brand extension. It is a question of leveraging. We as a company, I have said this in the past, when we look at assets. We don't look at assets as just manufacturing assets. We look at our marketing assets, though you don't assign a value to them on the balance sheet.
We are very conscious of our marketing and sales and distribution assets. We think that just like one sweats the manufacturing assets, there is a scope to sweat the marketing and go-to market assets, and that is what we intend doing with RMC. Our RMC progression so far has been slow but steady. Very soon we will have our fifth plant in Uttar Pradesh, and that is because Uttar Pradesh is a core market for us, where we have a strong brand equity for Perfect Plus. Our RMC is being marketed under the Perfect Plus brand name. We are doing so, but we do not want to really go overboard on RMC. We know how many companies have burned their fingers. There are a lot of issues in the RMC segment, particularly relating to outstandings, recovery and commercial aspects.
We do not want to do something over-aggressive, which is going to hurt our main business. So far, first of all, I think we are developing a reasonably good footprint in U.P. market, which is giving us a lot of learnings. You will probably get to see our progressing now, extending the same format to other regions where we have a strong brand equity. On chemicals, extension chemicals, there were two parts to it. When we launched it, there was a part of wall putty and there was a construction chemical. Wall putty is a market which we have seen is highly price-driven, and a lot of new entrants have come in, not only from the cement side but also from the paint side. It is a very commoditized market. We do not see too much of value, so we are not going aggressive on wall putty at the moment.
We are seeing a lot of traction in the chemicals side. There again, we are having a brand synergy with our premium brand, Perfect Plus, and we are changing our supply chain model there over learning, and you will see us trying to scale it up in the coming year. Because of in between COVID, everything else, it was put on the back burner for a while, and we were focusing on other areas, but you will find now much more focused attention on chemicals. Chemicals is never going to be a huge number. It is going to give you, again, a brand extension thing, which will probably give us sort of a multiplier effect on our existing brands. We are not really looking at it in a huge number, but it is going to certainly, we believe, add value to our overall brand assets and positioning.
In fact, in terms of CapEx, any significant number we will be eyeing in this segment?
These are all CapEx-like projects.
Okay. My next question to-
Saket, I request you to join back the queue, please, as your participant here is over.
Ma'am, second question only was I was asking.
Okay, please go ahead.
Thank you, ma'am. Saraogi, as you have alluded in the interview also about the power and fuel cost. With the rising crude and the pet coke prices, how are they going to affect our fuel prices? And what steps are we taking to improve our mix in terms of further investment in the WHRS? Also, please provide us the current maturity number of debt for the current year and what number we are going to close for FY 2026, 2027. Thank you, sir.
See, in terms of the total cost impact, I have given an estimate of INR 150 crore - INR 175 crore per ton. That is mainly on two counts. One is the packaging cost and the other is the fuel cost. Okay?
Within the fuel, our current mix of imported fuel is around 30%. Let me share with you, it is not only the imported fuel cost which is going up. Even the domestic fuel, although the cost is relatively less, but even the cost of domestic fuel is going up because many cement players are now switching from imported fuel to domestic fuel. Also during the strong summer season, there is a strong demand for domestic fuel. Even the cost of domestic fuel is going up. Insofar as wastage recovery is concerned, we are trying to increase the optimized capacity of existing wastage recovery wherever possible, and in any case, our new plant will have an optimized level of wastage recovery in the Maihar Line 2.
So that.
So we are also doing.
Didn't get your last point, sir.
My.
Didn't get your last point.
No, there are two things, Rajat, here. Yes, waste heat recovery as said by Aditya. Yes, we are working on that to improve our efficiency in the waste heat recovery, including the new setup, which is going to come for the Maihar Line 2. That will be there. Apart from that, the solar and hybrid also, we are continuously working on that. As of now, we can see that there is another plant of around 25- 30 MW, which is going to improve in the next one to two years of time.
Thank you. We will take our next question from the line of Pathanjali Srinivasan from Sundaram Mutual Fund. Please go ahead.
Hello, sir. Thank you for the opportunity, sir. A good set of numbers. I just have a couple of questions. Firstly, with respect to our operating cash flows, we have generated more EBITDA than last year. However, our operating cash flow has kind of declined very sharply versus the previous year. Could you help me understand this bit, sir? Versus the previous year, why this was such a sharp decline?
Some of the incentive that we accrued particularly from Maharashtra, that we have not realized. Hopefully by next year, we will start realizing that incentive. That is one. Secondly, as explained, the working capital has gone up because of the conscious effort to increase the fuel inventory. That is the second reason for lower cash flow.
Sir, what would the receivable amounts be, sir, pertaining to these incentives for us?
Roughly, receivable is about INR 500 crores.
Got it, sir. We expect this to be coming in the current year, is it?
Yeah. This should start seeing realization from the current financial year.
Got it, sir. Just one last question, sir. What is the CapEx guidance for FY 2027 and FY 2028, and how much capacity commissioning for the next TWO years?
We have not given any guidance for the next financial year. For FY 2027, it is INR 500 crores, and our capacity addition by FY 2029 will be 6 million tons, from 21.5- 27.5.
Got it, sir. Any timeline when the next set of capacity is coming in?
Only in FY 2029.
Okay, got it.
Some at the beginning of the year and some towards the end of the year.
Thank you so much, sir.
Thank you. Next question is from the line of Girija Ray from Nirmal Bang. Please go ahead.
Hi. Thanks for the opportunity and many congratulations for this set of numbers. Appreciate the consistency level of the company. The fourth quarter is a kind of surprise to the street, I can say. I have a couple of questions. I just wanted to check Brahmapuri and Malkiwada coal block, when we can expect it to be operated or something like that. If you can throw some light. This is my first question.
So far as Brahmapuri is concerned, we are not pursuing that block actively because the capacity which was given in the bid document, the actual capacity is much lower than that. We are contesting that particular block. Insofar as Malkiwada is concerned, we are in touch with the government for certain regulatory issues. Maybe by FY 2029 is what we expect to start that block then.
Okay. Do you think this Vikram coal that we have started operating in April, this is going to reduce our lead distance in terms of coal transportation, overall company lead distance? Is it going to reduce our coal distance? Because I can see Vikram Coal Mining is around 50% distance reducing from your central region plants. Is this going to help us to Mukutban and central regions if we are from this Vikram Coal Mining?
See the lead distance is a circumstance what matters is the landed cost that you pay for the fuel compared to the alternatives. If you were to buy from the market or from Coal India Limited subsidiaries. There, as I explained, there is a good data. Our landed cost is in the region of INR 1- INR 1.05 per megawatt. As against the current market price of INR 1.45 per megawatt.
Okay. The last question, if I may. I could not hear it properly. What is the incentive we have included in FY 2026 revenue full year basis? What is the amount we are going to add in FY 2027, the incentive?
We have accrued INR 140 crores, out of which INR 90 crores pertain to earlier years and INR 50 crores pertain to the current financial year.
For FY 2027, what is your expecting incentive?
INR 130 crores.
Okay, fair enough. Thank you, sir. Thank you very much, and all the best.
Thank you. Next question is from the line of Harshal Mehta from Amsec. Please go ahead, Harshal.
Hello, am I audible?
Yeah, please use your handset more.
Is it better now?
Yes, please go ahead.
Okay. Thanks for the opportunity. Just one clarification in terms of incentives. Probably for the full year, you book around INR 50 crore incentive. How much is that for Q4, that number?
No, for the full year it is about INR 95 crore, out of which, no, excluding the INR 90 crore or INR 10 crore pertaining to earlier years. For this currently, it is about INR 95 crore, out of which about INR 48 crore we have booked in this current quarter.
What is the number for this quarter, Q4?
Q4, we have booked INR 48 crores. One time case, probably INR 24 crores could have been booked in earlier quarters. Because the clarification was received in the current quarter, that is why we have booked INR 48 crores. Annual run rate of Maharashtra incentives is expected to be about INR 90 crores-INR 95 crores.
Okay. Thank you.
Thank you. Next question is from the line of Nikhil Gandhi from Bajaj Life Insurance. Please go ahead. Nikhil, your line is unmuted. Please go ahead with your question. Since there is no response, we will move on to the next question from the line of Prashant Shah, an individual investor. Please go ahead.
Hello. Is my voice audible?
Yes, please go ahead.
Good afternoon, and thanks for the opportunity. Congratulations, team, for an excellent set of numbers. Saraogi , just to confirm, the lead distance now is 337 km and the kcal is 1.53. Are these numbers what I understand is correct?
Yes. For March.
For March. Okay. My first question is, out of the total energy cost for the current fiscal, how much
I am sorry, the sound is muffled. Can you repeat the question again, Prashant?
My question is, how much of our energy consumption is coming from renewable sources in terms of percentage, and how much is the non-RE part? Sir, 37% renewable energy. How much do we- The power.
Power. That is for power.
Power consumption.
There is no renewable assets.
What is our expectation, how much will it go to in the FY 2027, 2028 period?
38%, right?
37%- 38%.
37%, 38% is what we are trying to get it to.
Okay. And what is our kcal? kcal per ton of clinker, you are asking, or paisa per kg? Per ton of clinker.
That varies from-
Varies from plant to plant.
Plant to plant.
200- 710. That's all from my side. Thank you.
Thank you. Next question is from the line of Munjal Shah from NSFO. Please go ahead.
Good afternoon, sir. What will be the total CapEx for this addition from 21.5 to 27.5?
INR 4,760 crores including GST. Net of GST, it is about INR 4,300 crores.
Okay. I just missed the opening, but there is some guidance of close to around INR 1,600 crores EBITDA for FY 2027?
Sorry?
There is a guidance of INR 1,600 crores EBITDA for FY 2027?
No, we are not giving any specific guidance. We expect the EBITDA to be similar range to the previous financial year.
No, because I just wanted to clarify. I heard somewhere that 2 million ton into INR 800 EBITDA per ton.
That you can do your own calculation, right? We have not given any.
Sure. Thanks a lot, sir. Thank you very much.
Thank you. Ladies and gentlemen, we will take that as the last question for today. I now hand the conference over to management for closing comments. Over to you, sir. Any closing comments, sir?
Thank you very much. We appreciate your support. We appreciate your interest in the company. Pleasure talking to you. Hopefully we will not disappoint you going forward. Despite, as I said, the uncertainties hovering in the horizon, we will stick to our strategy and do better than our best. Thank you very much.
Thank you. On behalf of HDFC Securities, that concludes this conference. Thank you for joining us, and you may now disconnect your lines.