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
: Couple of questions from my side. Just to take on the books, would you be able to clarify the investment numbers that we have in the books of
India towards U.K. and Europe? Would it be possible to sort of give us that breakup as well?
Question: Kirtan Mehta - BOB Capital Markets Limited, Research Division - Analyst
: Right. And just one more thing in terms of -- there has been a mention about the delay in ramp-up of cold mill at IJmuiden. Would you be able to
sort of clarify its capacity and potential contribution to the margin for the Netherlands plant once it comes up?
Question: Kirtan Mehta - BOB Capital Markets Limited, Research Division - Analyst
: Right, understood. One more question, if I may. In terms of the India business, we recently did around INR 16,000 per tonne on the standalone
operations. When we want to look at this number in the sustainable context or more in terms of the average margin over the cycle, how far we are
from the cycle in the margin, and how should we think that margin would change as we commission the pellet plant as well as the cold rolled mill
there?
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MAY 03, 2023 / 8:30AM, TISC.NS - Q4 2023 Tata Steel Ltd Earnings Call
Question: Kirtan Mehta - BOB Capital Markets Limited, Research Division - Analyst
: Right. And would you be able to add color on that how this sustainable range -- margin of INR 15,000 could change with the commissioning of the
pellet plant as well as the cold rolled mill?
Question: Ashish G. Jain - Macquarie Research - Analyst
: Hello?
Question: Ashish G. Jain - Macquarie Research - Analyst
: So, Koushik, I've just 2 quick questions. Firstly, you made a point that in the second half, U.K. had a loss of GBP 100 million to GBP 150 million cash
loss. So what is -- how are you funding those losses today?
Question: Ashish G. Jain - Macquarie Research - Analyst
: But if I can just delve into this stand behind them thing a bit more means, in worst case, this will devolve on Tata Steel India? Is that the way to
think about it or...
Question: Ashish G. Jain - Macquarie Research - Analyst
: It will. Okay. Got it. Got it. And secondly, on Kalinganagar, I think Narendran spoke about it...
Question: Ashish G. Jain - Macquarie Research - Analyst
: Right. Right. And just one clarification on Kalinganagar, did we say we are expecting production sometime in April 2024?
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