Jindal Steel & Power Limited Q4 FY22 Earnings Conference Call Insights

Key highlights from Jindal Steel & Power Limited (JINDALSTEL) Q4 FY22 Earnings Concall

Q&A Highlights:

• Amit Dixit from Edelweiss asked about the guidance on coking coal cost price increase in FY23. V. R. Sharma MD said there’s a little pressure on the international energy businesses and worldwide, the coking coal prices may either remain little moderate level or maybe at the same level in times to come.

• Sumangal Nevatia from Kotak Securities asked about the 15 million tonnes of volumes on captive coal block, what’s the guidance for FY24-25. V. R. Sharma MD said it have 4 mines now. And ofthis 4 mines at least 2 mines will be fully operational. JINDALSTEL can do at least 6-7 million tonne coal from these mines every year. So total 12-15 million coal will be taken out from these mines.

• Kirtan Mehta from BOB Capital asked about the path to achieve the net debt zero status. Ramkumar Ramaswamy CFO said that’s purely from a business performance perspective JINDALSTEL expects to have a good performance this year. The company expects to be net debt free by the end of this year.

• Kirtan Mehta from BOB Capital asked about the Cassia mine production and if the target of 5 million tonne of production still achievable for FY23. V. R. Sharma MD clarified that the company is on the line and will achieve 5 million tonne as per the permission obtained by JINDALSTEL.

• Pallav Agarwal from Antique Stock Broking asked about volume guidance and if any particular segment would drive volume increase. V. R. Sharma MD said last year it did 8 million tonne then sold 7.6 million tonne. In FY23, JINDALSTEL is planning to do about 8.5-8.6 million tonne of production and 8.2 million tonne of sales.