Tata Steel Ltd Q1 2023 Earnings Presentation Transcript

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

Question: Vishal Chandak - Motilal Oswal Securities Limited, Research Division - Analyst : So sir, just a couple of questions. I don't know if I missed it on your opening comments. My first question was with regard to your steel contracts that are getting repriced in Europe, so can you please help us? How much of the proportion of these contracts are getting reset? And typically at what prices you are looking at.

Question: Vishal Chandak - Motilal Oswal Securities Limited, Research Division - Analyst : That is useful, sir. Just following up on this contract repricing. We have seen Tata Steel Europe reporting phenomenal numbers. No one ever expected Tata Steel Europe to really beat India stand-alone or parent entity numbers. That's something which I think we [never expected], but the question remains what is the sustainable number. We have seen Tata Steel Europe reporting as low as in triple-digit negative EBITDA numbers also, in terms of less than $100 per tonne of EBITDA. And we have seen [$370] also, so how do we look at -- strike a balance? And then what is a sustainable number?

Question: Vishal Chandak - Motilal Oswal Securities Limited, Research Division - Analyst : Sir, my second question was with respect to [again transitioning] to the green steel. Now it's already in the public domain. And you've mentioned that the cost of transitioning in U.K. is about GBP 3 billion and it will not be possible for Tata Steel U.K. to do it all on its own. That's known fact, but in terms of Netherlands, how are we looking at it? And if U.K. government doesn't support or the Netherlands government does not support, are we looking at closing these furnaces for good? Or these are good times. Are we still looking at some buyers and selling out in good times for Tata Steel in Europe at least? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 26, 2022 / 6:30AM, TISC.NS - Q1 2023 Tata Steel Ltd Earnings Presentation

Question: Kirtan Mehta - BOB Capital Markets Limited, Research Division - Analyst : Kirtan Mehta here from BOB Capital Markets. We are starting operations at NINL -- aiming to start operations at NINL over the next 3 months. Would you be able to sort of give us a guidance about how do you see the operations ramping up? And how do you see the costs basically being taken out there? And what are the sort of near-term CapEx to take the plant to their initial operating rate?

Question: Kirtan Mehta - BOB Capital Markets Limited, Research Division - Analyst : One more question, going back to the Europe. Would it be able to -- possible to sort of indicate the breakeven spread that you need at U.K. and Netherlands operations separately?

Question: Kirtan Mehta - BOB Capital Markets Limited, Research Division - Analyst : Sure. Just to -- suggestion: Would it be possible to sort of give us a sensitivity to some of these indicators like gas price or in terms of the profit that the Europe has in future? It could help us understand these magnitudes or impact on the profitability from the external environment.