Tata Steel Ltd Q2 2020 Earnings Call Transcript

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

Question: Bhavin Chheda - Enam Holdings Pvt. Ltd - Analyst : Sir, your March '19 and even September CWIP is close to INR 17,000 crores. Can we know how much of that would be related to the Kalinga Phase II project? And what is the total projected CapEx now at Kalinga over next 3, 4 years, whatever, what is the total project cost now at Kalinga?

Question: Bhavin Chheda - Enam Holdings Pvt. Ltd - Analyst : Total, sir, you are on INR 24,000 crores?

Question: Bhavin Chheda - Enam Holdings Pvt. Ltd - Analyst : Sir, my second question is on, if I see your Slide 11, which gives details of volume and breakup there. So our quarter 2 exports from India were roughly 0.64%, which is almost double the quarter 1 number. And I assume the profitability in export was much lower than the domestic profitability. And obviously, this has been due to the demand -- significant demand slowdown. So what should be a model for second half or quarter 3, is this run rate of exports going to continue? Has it come down? Any thought process you can throw on this?

Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst : Sir, my first one is, you indicated our interest even in commercial mining for a few blocks. Can you please elaborate on this? And are we trying to recoup, say, hypothetically if Sukinda doesn't come back to us? So that's the first question, sir. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 07, 2019 / 5:30AM, TISC.NS - Q2 2020 Tata Steel Ltd Earnings Call

Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst : Now that's helpful. Sir, second question is, I'm just taking forward the prior question on the pricing part. If one looks at the Chinese steel prices haven't declined year-to-date to the extent what you have seen in, say, Europe or U.S. or India. Sir, what would you ascribe this? Is it to Tangshan? Or is it to scrap? And how would you couple this thing up with the Turkish sanctions? So what I'm fearing is, are we looking at more prices or price declines locally? Or [EDDs] will be a savior over here. And if you can couple this with how has a behavior for Essar Steel been in the marketplace? Have they been chasing market share? Or is that they are playing a level pay increase?

Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst : Sir, locally, behavior of SR Steel in the market, how does it impact the pricing, specifically, we have anti-dumping duty in place?

Question: Ritesh Shah - Investec Bank plc, Research Division - Analyst : Sir, just last question, a quick yes or no is fine. Sir, will we be looking at Bhushan Power and SR Steel if at all the existing bidders take a U-turn or something?