Nuvoco Vistas Corporation Ltd

- Nuvoco is finalizing the second tranche of ₹600 crores CCD fundraising, expected to conclude soon after year-end holidays. - The ₹1,200 crores total CCD issuance for Vadraj acquisition is split into two ₹600 crores tranches with call and put options; compulsorily convertible to equity after 7 years. - The company aims to retire the CCD through cash flow rather than conversion, targeting a strong balance sheet by then. - No immediate plans for new fundraising beyond Vadraj-related debt but future CAPEX expansions, including at Chittorgarh and Gulbarga, are anticipated around FY’28 or FY’29. - The company is comfortable operating at net debt levels of ₹3,500–₹4,000 crores and plans next expansions within these debt levels. - Fundraising beyond Vadraj would likely align with these planned expansions and internal accrual capabilities.

- FY’26 CAPEX: ₹620–670 crores, including expenditure on Vadraj project (₹200 crores spent till Dec, additional ₹250–300 crores in next 2-3 months). - FY’27 CAPEX: ₹1,000–1,100 crores, with major spend on Vadraj (around ₹800 crores expected). - FY’28 CAPEX: ₹650–700 crores, including routine and project-related investments. - Vadraj cement plant commissioning phased from Q3 FY’27 to strengthen western region presence. - Medium-term growth plans include potential expansion at Chittorgarh and greenfield options at Gulbarga, with clarity expected by H2 FY’27. - Group captive hybrid renewable energy project (solar + wind) underway to reduce power cost. - Railway siding projects completed (Sonadih, Jajpur), and a new siding planned for Vadraj by June FY’28 to reduce logistics costs.

- Targeting a volume CAGR of around 10% for the next two years and beyond. - Q4 FY’26 expected volume growth of 7-8%; December witnessed 20% volume growth. - Expansion projects (Vadraj, East expansion including Jojobera, Jajpur, Panagarh, Surat) to boost capacity and sales. - Vadraj plant commissioning phased from Q3 FY’27; East expansion and milling units coming online through FY’27 and FY’28. - Gujarat market scaling up to 1 million tons sales in FY’26, aiming to reach 2 million in FY’27, 3 million in FY’28, and 4 million in FY’29. - Plans for greenfield and brownfield expansions (Chittorgarh, Gulbarga) to start around FY’28 or FY’29. - Sustained demand supported by government infrastructure spending and consumer confidence enhancing growth. - Emphasis on premium products (premiumization mix rising from 34% to 44%) to improve realizations and profitability.

- Nuvoco targets a volume CAGR of at least 10% over the next two years and beyond, driven by capacity expansions such as Vadraj, Jojobera, Panagarh, and Jajpur. - Vadraj cement plant commissioning is expected from Q3 FY’27, strengthening presence in western India. - Expansion plans for Chittorgarh and potential greenfield projects like Gulbarga are under evaluation, with CAPEX planned from H2 FY’27 or FY’28 onwards. - Focus on premiumization (currently 44% mix) aims to increase EBITDA per ton by INR 150-200, enhancing profitability. - Logistics and freight cost efficiencies expected due to increased rail share, siding completions, and home market focus. - Management projects sustained growth and cost discipline to enhance profitability and shareholder value. - FY’26 to FY’28 CAPEX approximates Rs. 650 crores, Rs. 1,000+ crores, and Rs. 650-700 crores respectively to support growth. - Overall outlook reflects improving demand, cost savings, and premium product mix driving long-term earnings growth.

The provided pages of the document do not contain specific information about the current or expected order book or pending orders for Nuvoco Vistas Corporation Limited. The discussions focus on: - Capacity expansions and commissioning timelines (Vadraj, Surat, Kutch, East expansion). - Operational progress including digitization efforts and logistics improvements. - Pricing and demand outlook. - Freight and logistics costs. - CAPEX plans and debt position. - Sales and market strategies, including dealer network build-out. No explicit details on order book size, value, or pending orders are provided up to page 21. If you need information on orders or contracts, please provide relevant sections or specify if a different document is available.