Tata Steel Ltd Q3 2022 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 my first question is again with respect to the decarbonization. So if you look at other European players like SSAB and Sagar, they have all announced a vision kind of a plan of about $3 billion to $3.5 billion of spend to reach green steel programs by mid-2030s or early 2030s. So in that direction, do we have any ballpark number as to what kind of CapEx we are looking at? Obviously, relining one part of it, but if the green steel also really go down below 1 tonne of CO2, then blast furnaces et cetera will become obsolete and we'll have to look at new ways, typically being electric arc furnace or some other method. So how do we really look at the long-term CapEx or life at Europe?

Question: Vishal Chandak - Motilal Oswal Securities Limited, Research Division - Analyst : Thanks for the elaborate answer. Sir, my second question was with respect to Neelachal. So you've mentioned that at Neelachal, the long-term plan is to build a 10 million tonne portfolio of plant toward their land. The overall land which is available is 2,500 acres on which the existing plant as per the UI is about 2,200 acres. Would that mean that we need to scrap out the existing plant and then do a fresh layout? Or it means that we will continue with the existing plant and on side-by-side we'll build an entire 9 million tonne process over there? So how would that go? And also the current plant is only up to the slab casting stage, (inaudible) and build costing. So how do we intend to add the rolling mills also there? Would there be a space constraint or any other?

Question: Vishal Chandak - Motilal Oswal Securities Limited, Research Division - Analyst : Downstream, which is...

Question: Vishal Chandak - Motilal Oswal Securities Limited, Research Division - Analyst : Great. Sir, just last follow-up on the same question. What kind of CapEx we are looking at Neelachal over the next 2 years' time frame? And I think would we be able to get out -- have the commissioning of a new plant? By that time, what kind of capacities incrementally we are looking at?

Question: Sahil Sanghvi - Monarch Networth Capital Limited, Research Division - Analyst : Am I audible?

Question: Sahil Sanghvi - Monarch Networth Capital Limited, Research Division - Analyst : Yes, so my question was more pertaining to Tata Steel Long Products. Considerable -- considering the amount of acquisition, will it be all debt on the balance sheet? Or would you consider some rights issue also when we look at Tata Steel Long Products?

Question: Sahil Sanghvi - Monarch Networth Capital Limited, Research Division - Analyst : Right. And my second question would be regarding the auto contracts over there for Long Steel -- when it comes to Tata Steel Long Products. Has there been a revision also? And for how much magnitude?