Jindal Steel And Power Ltd Q1 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Rajesh V. Lachhani - HSBC, Research Division - Analyst : Sir, I basically have 2 questions. Number one is, if we look at your net debt, you have been reducing it significantly over the last 3 years from FY '18 of around INR 45,600 crores to now close to INR 35,000 crores now, and this is a sharp decrease of more than 25%. However, sir, if you look at your interest cost on an annualized basis, they have actually increased by 5%. And this is not only the case for consolidated. Even this same trend could be seen for the stand-alone. So I just want to understand the divergence between the interest expense and the net debt. So that would be my first question.

Question: Rajesh V. Lachhani - HSBC, Research Division - Analyst : Yes. The second question, sir, just a follow-up from the colleague on the Sarda Mine. I just wanted to understand how much was the Sarda Mine ore consumed in this quarter? And what is the monthly run rate that you are consuming it currently?

Question: Rajesh V. Lachhani - HSBC, Research Division - Analyst : Sure, Nishant. I would really appreciate if you can tell us what would be the internal share, the interest cost for the LCs and the other normal debt.

Question: Bhavin Chheda - Enam Holdings Pvt. Ltd - Analyst : Sir, can you give me the outstanding debt at each entity and how much is repayable at each entity in FY '21? If you can break up entity wise.

Question: Bhavin Chheda - Enam Holdings Pvt. Ltd - Analyst : Sorry, Oman would be?

Question: Bhavin Chheda - Enam Holdings Pvt. Ltd - Analyst : INR 5,500 crores?

Question: Bhavin Chheda - Enam Holdings Pvt. Ltd - Analyst : Okay. Each entity...

Question: Bhavin Chheda - Enam Holdings Pvt. Ltd - Analyst : And then you have cash inflows of over INR 600 crores cash?

Question: Bhavin Chheda - Enam Holdings Pvt. Ltd - Analyst : Entity savings or repayment in FY '21?

Question: Bhavin Chheda - Enam Holdings Pvt. Ltd - Analyst : You can call me.

Question: Bhavin Chheda - Enam Holdings Pvt. Ltd - Analyst : Yes. Just one more thing. If you can share the coal cost savings both on the met coke side and the thermal coal side? Did you see the savings at both or just thermal coal was more and met coke should tick in, in future?

Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst : Sir, my question is regarding -- you gave a number of INR 5,500 crores of debt reduction during the course of the year. So I just wanted to understand the construct of this. And I'm assuming this is excluding Oman proceeds. And it is heartening to see this number actually to go down, but would like to have some color on the pledge number also going forward, how should I look at it?

Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst : Just a follow-up. So what is the CapEx number for full year that one should build and the interest cost number, I think there was a related question earlier as well. So what is -- which was the CapEx number that we are going to look at?

Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst : Okay. And I'm assuming this number also does not include the power receivable, INR 1,600 crores, INR 1,800 crores which is yet to come into the kitty?

Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst : And any time line to that? That's the last question.