Scoda Tubes Ltd

- No mention of any current or planned new fundraising through debt or equity in the provided transcript. - Capital expenditure is being funded from existing IPO proceeds (INR27 crores spent on capex, INR110 crores in bank, and INR50 crores used for working capital). - No indication of increase or decrease in capex guidance (around INR100 crores initially estimated). - Working capital deployed as planned, with no stated need for additional external funding. - Focus remains on operational efficiency and capacity expansion funded through internal accruals and IPO proceeds.

- INR 27 crores has already been spent on capex in H1 FY '26. - Total estimated capex for current expansions is around INR 100 crores. - No increase or decrease expected in the capex; largely remains as earlier communicated. - Capital work in progress as of September 30, 2025, stands at INR 61.1 crores. - New seamless capacity expansion underway, increasing from 17,000 to 20,000 metric tons per annum by December 2025. - Welded plant construction started; commercial production targeted for Q1 FY '27. - Finished goods capacity will scale up from 11,088 to 33,128 metric tons per annum. - Working capital deployment of INR 50 crores underway. - Strategic acquisition of Arvind sp.z o.o. (Poland-based trading firm) completed to strengthen international footprint in Eastern Europe.

- Targeting 20% revenue growth in FY '26 driven by new capacity coming on stream from November 2025. - Seamless capacity to reach 20,000 MT by December 2025 with ramp-up expected to hit 60-65% utilization in FY '26, increasing to ~80% in FY '27. - Welded capacity to be commissioned in Q1 FY '27, with 30% utilization expected in FY '27 and full utilization by FY '28. - Export revenue expected to grow, targeting 40-45% of total revenue by full utilization in FY '28. - Industry growth estimated at 7-8% annually for stainless steel pipes and tubes in India; global demand growth at 3-4%. - Expansion and acquisitions (e.g., Arvind sp.z o.o.) to support international market penetration and long-term value creation. - Demand growth fueled by opportunities in power, renewable energy, oil & gas, and new sectors like water purification.

- Scoda Tubes targets 20% revenue growth driven by new seamless and welded capacity coming online starting November 2025 and Q1 FY '27 respectively. - Margins expected to sustain at 15-16%, supported by higher contribution from welded products and new product launches. - Seamless product margins are typically 16-18%, welded products 12-13%, leading to blended margins. - Expect utilization of seamless capacity to ramp to ~80% by FY '27 and welded capacity utilization at 30% in FY '27, full utilization by FY '28. - Export revenue expected to increase to 40-45% of total revenue by FY '28, boosting profitability. - PAT margin improvements noted with 8.7% in H1 FY '26 vs. 6.6% prior year, indicating improving earnings quality. - Continued focus on operational efficiency and capacity expansion aimed at sustainable and profitable growth over coming years.

- As of November 14, 2025, Scoda Tubes Limited's current order book stands at INR 194 crores. - The order book comprises INR 104 crores from the export market and INR 90 crores from the domestic market. - The company recently secured a $1 million order from a US customer, indicating continued international demand. - The company aims to increase exports to 40-45% of total revenue by FY 2028, aligning with optimal utilization of welded and seamless capacities. - There is strong demand expected in sectors such as oil and gas, power, and renewable energy, supporting future order inflows.