Satia Industries Ltd

- As of the conference dated November 06, 2023, Satia Industries Limited has not announced any current or future plans for fundraising through debt or equity. - The management mentioned proactive debt repayments, including Rs 284 million prepaid in Q2 FY24 and Rs 626 million in H1 FY24. - The total long-term debt stands at Rs 305 crores with no immediate plans for prepayment but depends on cash flow. - There were no indications of raising new debt or equity to fund ongoing or future projects. - Ongoing funding for CAPEX is likely planned through internal accruals and existing cash flow rather than new fundraising.

- Initial phase of wood pulping CAPEX completed: Installed DDS in four wood pulping digesters to reduce steam consumption and enhance wood pulping capacity. - Planned CAPEX for FY25 includes: - Upgradation and modernization of Paper Machine 3 (PM3) to enhance production capacity and optimize energy consumption. - Installation of a new soda recovery boiler, expected to be completed in FY25 without machine shutdown. - Execution timeline: PM3 modification will involve a 2-3 months shutdown during FY24-25. - The CAPEX aims to bolster economies of scale and improve profitability. - No specific completion month stated beyond FY25, but machinery shutdown planned within FY24-FY25 timeframe.

- Satia Industries targets a 5% to 7% volume growth for FY24 compared to FY23. - Current production capacity is around 600 tonnes/day; with planned CAPEX adding 100 tonnes/day, capacity could reach 650-700 tonnes/day by FY25, translating to approximately 235,000 to 240,000 tonnes annually. - Focus on premium product segments such as high-end Maplitho paper and photocopier paper, aiming to increase contribution in these profitable areas. - Expect price improvement post-Diwali due to rising international pulp prices, potentially increasing paper prices by 4% to 5% from December onwards. - EBITDA margins expected to remain stable within 20% to 25% range in the medium term. - Strong order book (~35,000 tonnes) from textbook boards and open markets provides a reliable demand base. - Continued CAPEX on PM3 modernization and new soda recovery boiler to improve scale and profitability in FY25 and beyond.

- Satia Industries expects 5%-7% volume growth for FY24 compared to FY23. - H1 FY24 EBITDA margin was 27.6%, up from 18.7% in H1 FY23, with PAT growing 63% YoY. - EBITDA margin guidance for FY24 remains between 20%-25%, considered sustainable and healthy. - Q3 and beyond expect slight price uptick of 4%-5% due to international pulp price trends, supporting margins. - Planned CAPEX for FY25 includes modernization of PM3 and a new soda recovery boiler to boost production capacity and reduce costs, improving profitability. - Capacity expansions aim to increase finished paper from ~600 tonnes/day to around 650-700 tonnes/day by FY25. - Focus on higher value products like photocopier and high-end printing paper to enhance margins. - Overall, management confident of maintaining steady EBITDA margin and profitability growth in the near to medium term.

- Current order book is approximately 35,000 tonnes for the current quarter, including both textbook and open market orders. (Page 4) - Execution of these orders typically spans about 2 months. (Page 12) - Textbook board orders are secured via open competition on the Government of India's GeM portal, with bids based on capacity and timelines. (Page 9) - These textbook board orders have increased this year due to the new education policy driving demand. (Page 8) - The company expects pricing adjustments in the next 3rd quarter influenced by the order execution timeline and seasonal demand. (Pages 12–13) - The company does not share specific pending order revenue values but confirms a stable and growing order pipeline backed by government and open market demand.