JSW Cement Ltd

- There is no explicit mention of any current or planned new fundraising through debt or equity in the provided transcript. - The company’s net debt as of March 31st stands at INR 3,635 crores, including capex and maintenance capex in line with guidance. - Capex guidance is INR 2,300 crores for FY27 and INR 2,200 crores for FY28, indicating planned significant investment funded through existing resources. - No reference to equity raising or new debt issuance for these investments during the call. - The company appears focused on managing costs, expanding capacity, and leveraging existing contracts and resources without indicating immediate fundraising plans.

- Capex guidance for FY27 is approximately INR 2,300 crores and about INR 2,200 crores for FY28. - Total capex for the revised plan, including a 1 million-ton additional grinding unit, stands at around INR 3,500 crores. - An additional INR 430 crores is considered on top of the above capex. - The integrated plant at Nagaur, Rajasthan (3.3 million ton clinker and 2.5 million ton grinding capacity), started commercial operations in March 2026; INR 2,400 crores have been spent here so far. - The grinding unit in UAE is expected to be commissioned by April 2027 (delayed by about a month due to the war). - Future considerations include potentially setting up a second clinker line in Rajasthan to support capacity expansion as Punjab plant approvals are delayed. - Management maintains capacity growth guidance aiming for approx. 43 million tons by FY30.

- JSW Cement expects mid- to high-teens volume growth in FY27, excluding the North region, maintaining their prior guidance. - The Nagaur North plant (2.5 million ton grinding capacity) commenced operations in March 2026; utilization guidance is 50%-60% for FY27, with ramp-up confidence to be clearer post Q1. - Total sales volume in FY26 grew by 11% YoY to 13.96 million tons (cement and GGBS volumes up 9% and 12%, respectively). - The company plans capacity expansion targeting 43.5 million tons by FY30, with only minor changes (replacing Punjab 2.75 MT with Rajasthan 2.5 MT). - Revenue for FY26 was INR 6,512 crores, a 12% YoY increase, with strong EBITDA growth expected from cost efficiencies and expanding market share. - The company aims to leverage infrastructure and housing demand in Northern India, optimistic despite short-term soft demand due to inflation and elections.

- JSW Cement expects mid-teens to high-teens volume growth in FY27, excluding North India. - North India (Nagaur plant) is targeted at 50%-60% utilization in FY27, ramping up capacity. - Capacity expansion to continue, with grinding capacity planned to reach 46 MTPA and clinker capacity at 13.04 MTPA by FY30. - Cost savings of around ₹100 per ton expected in FY27, through power costs, logistics, and premiumization; full savings to be realized by FY28. - Operating EBITDA margin improved to 19.3% in Q4 FY26, with a significant year-on-year jump; focus on sustaining/expanding margins. - No changes to capacity guidance or GGBS volume guidance (around 7 million tons for FY27). - Stable tax rates assumed at 25% from FY27 onwards, supporting EPS growth. - Overall, management maintains a positive outlook on earnings growth driven by volume ramp-up, cost savings, and operational efficiencies.

The transcript provided does not contain specific information about JSW Cement Limited's current or expected order book or pending orders. The discussion primarily focuses on: - Capacity expansions and projects in Rajasthan and Punjab. - Volumes and production figures for cement and GGBS. - Cost efficiencies, margin guidance, and pricing. - Impact of regulatory issues and delays. - Capex guidance and operational updates. - Market demand outlook and ramp-up of new plants. No explicit details on order book size, pending orders, or future orders are mentioned in the available pages.