The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Kirtan Mehta - BOB Capital Markets Limited, Research Division - Analyst
: I just had a couple of questions arising from the current strong market environment. What is the guidance as you continue the existing production
upwards, are there any opportunities being internally evaluated to accelerate mine production in the interim to utilize the current strong environment?
And the second question is about the current market environment, as it gives rise to sort of a very significant cash flow. So are the -- main plan
would be the return of this cash flow to the shareholders? Or are there any other growth plan under consideration?
Question: Kirtan Mehta - BOB Capital Markets Limited, Research Division - Analyst
: Yes. Question is about how will you plan to utilize the cash flow, which is coming in, would it be primarily returned to the shareholders? Or are
there any other growth plan under consideration as well?
Vinaya Jain
Sure. So historically, you can see that we have both invested back into the business, and we have returned money to the shareholders, and nothing
is going to change going forward. So this is exactly what we intend to do going forward as well.
Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst
: A couple of questions. One is we have indicated project CapEx of $100 million. Sir, what is the maintenance CapEx that we should look at for
modeling purpose? Would it be around $200 million, roundabout of?
Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst
: Okay. That is fine. Sir, secondly, there is no comments on the Gujarat greenfield smelter and the fertilizer plant that the company was exploring.
Sir, any thoughts on those 2 particular valuables on capital allocation? Or...
Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst
: Okay. That's quite helpful. Sir, my second question pertains to R&R. You have indicated an increase to 448 million. I checked in the annual report,
it was around 400 million tonnes last year. So a commendable job over here. Sir, the question over here is, recently, there was an MMDR amendment
pertaining to save leases. I'm assuming this number doesn't get impacted because of the MMDR amendment. But there are a lot of leases like SK
North, SK South. So what is the legal standpoint of the company over here?
Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst
: That's useful. Sir, lastly, let me just try my luck. Just a specific question to what Sumangal had asked. Sir, can you give clarity on exactly what is being
heard in the Supreme Court right now? Basically, what is it that has been contested, if you can give a broad idea about that, I don't want the case
specifics, but particular 2 variables, that is something which has been talked about?
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