Shree Cement Ltd

- Total capex for FY '26 is earmarked at approximately INR 3,000 crores. - Expansion includes increasing clinker capacity from 36.7 million tons to 44 million tons by end of FY '26. - Cement capacity will increase from current 62.8 million tons to around 68.8 million tons by FY '26 with new units at Etah, Raipur, Kodla, and Ras-Jaitaran. - Capacity additions (clinker and grinding) to be commissioned by HY FY '26, with supply expected by FY '27. - Multiple locations across India are under advanced levels of preparedness for future expansions, with announcements pending. - Greenfield expansions are planned, including a new limestone mine in Jaisalmer and possible capacities in Gujarat. - The strategy focuses on profitable capacity creation using internal cash without borrowing, targeting a return premium of about 2%.

- There is no explicit mention of any current or planned fundraising through equity or debt in the provided transcript from the May 14, 2025 earnings call. - Ashok Bhandari mentioned that the company does not borrow for capacity expansion but uses its own cash resources ("please understand we don't borrow. We utilize our own cash resources to set up capacities"). - Capex plans for FY '26 are around INR 3,000 crores as stated by Neeraj Akhoury and Ashok Bhandari, but no financing details were disclosed. - The company holds a net cash position of roughly INR 5,400 crores as of March 2024, indicating healthy liquidity. - No announcements or discussions around raising funds through new debt or equity were made in the transcript.

- Shree Cement expects cement demand growth of 6.5% to 7.5% in FY '26, driven by infrastructure projects, rural recovery, real estate momentum, and softening interest rates. - The company aims for high single-digit volume growth, in line or slightly above industry growth, targeting about 39 million tons in the year. - Focus is on maximizing profitability rather than highest volume; a trade-off between price and volume is deliberately managed to optimize net profit. - Capacity expansions totaling around 50 million tons by FY '26 are underway, with further announcements expected for expansions beyond FY '26. - Capacity utilization currently around 68% for the year, expected to improve to 75-85% in 2-3 years as demand picks up. - Growth strategy includes expanding into new regions like Jaisalmer and Gujarat based on limestone reserves and market potential. - Emphasis on premium products and improving brand equity to support better pricing and volume growth.

- The company targets 6.5% to 7.5% cement demand growth in FY '26, driven by infrastructure, rural recovery, real estate momentum, and interest rate softening. (Page 5) - Volume growth is expected to be high single digits, broadly in line with industry growth. (Page 5) - Strategy focuses on maximizing profitability over volume; prioritizing trade-offs between price and volume to maximize net profit rather than top-line volume growth. (Pages 11, 16) - EBITDA for Q4 grew 47% sequentially; EBITDA per ton up 29%. Management expects further growth leveraging premium products and improved pricing. (Page 3) - Capacity expansion by FY '26 aims to create options for growth at approximately 2% incremental cost, expecting capacity utilization to rise towards 75%-85% in 2-3 years. (Page 6) - Management remains cautiously optimistic about sustained pricing and margin improvements, expecting a gradual pickup in demand. (Pages 12, 16) - Depreciation expected to rise to INR 3,000-3,200 crores in FY '26 due to capacity additions. (Page 14)

The transcript from the PDF "2998.pdf" does not provide specific details on Shree Cement Limited's current or expected order book or pending orders. There is no direct mention or data related to order books or pending orders during the management discussion or Q&A session on page 17 or elsewhere in the provided pages. The focus is mainly on capacity, production volumes, regional cost structure, railway sidings, clinker and cement capacity expansion, pricing strategy, and fuel mix. Therefore: - No explicit details on current or expected order book or pending orders are disclosed. - The discussion revolves around capacity additions, pricing, volumes, and operational efficiencies. - Management emphasizes strategy, profitability, and capacity utilization rather than order backlog details.