Sunlite Recycling Industries Ltd

- For the planned CapEx of INR40 crores (copper cathode plant) till FY28, the management stated it is too early to decide the funding mix between debt and equity. - They currently have funds for ongoing expansions like ATC and busbar, for which CapEx was done using existing resources. - Future funding decisions will depend on timing, subsidies, tax benefits, and other financial factors; no concrete plans on debt or equity dilution declared yet. - Regarding the preferential issue aiming to raise around INR12-13 crores, proceeds are intended for general purposes, expanding ATC capacity, busbar, and related business areas. - No immediate increases or significant changes in debt planned; short-term borrowings seen in Q2 were attributed to timing of payments and expected to normalize. Summary: No definitive new fundraising via debt or equity announced yet; funding approach will be evaluated closer to project timelines.

- Current CapEx includes INR 40 crores planned for the copper cathode capacity, expected to be implemented in phases till FY28. - Copper cathode plant will support backward and forward integration, increasing both revenue and margins. - Expansion of high-margin products like ATC wire and Copper busbar is underway, with busbar capacity expected to reach 70% utilization by year-end. - Future plans include doubling ATC wire capacity and potentially adding new plants of INR 1,300 crores each in FY27-28. - Sunlite Aluminium Private Limited, a subsidiary, will expand its aluminium plant, leveraging tax benefits and subsidies. - CapEx funding strategies (debt vs. equity) will be decided closer to the time based on subsidies and company needs. - The company targets nearly INR 5,000 crores revenue in the next 4-5 years through capacity expansions and new plants.

- FY26 revenue expected around INR2,400 to INR2,500 crores. - H2 FY26 projected to grow ~10% over H1 FY26 revenue of INR1,150 crores. - FY27 anticipated 10-15% revenue growth compared to FY26. - FY27-28 expected revenue of INR3,000 to INR3,500 crores with copper cathode plant commencement. - New copper cathode plants planned adding INR1,300 crores capacity each in FY27-28 and later years. - Targeting revenue of approximately INR5,000 crores in the next 4-5 years. - Capacity utilization and forward integration (Busbar, ATC) to boost margins and revenue. - Focus on increasing value-added product share in revenue from current 10% to around 30% by FY27.

- Revenue is expected to grow from INR1,150 crores in H1 FY26 to approximately INR2,400-2,500 crores by the end of FY26. - FY27 revenue is projected to grow by 10% to 15% over FY26. - By FY27-28, revenue is expected to reach around INR3,500 crores with the commencement of the copper cathode plant. - Over the next 4-5 years, the company targets a revenue of around INR5,000 crores. - EBITDA margins are anticipated to improve gradually but exact percentages are uncertain; management expects improvement from current ~2% to higher levels. - PAT margin was around 1.28% and management hopes to increase it to approximately 1.35% in the near term. - Earnings growth drivers include capacity expansion, forward integration into value-added products (aiming to increase share from 10% to 30%), and backward integration through copper cathode plants. - EBITDA per tonne has risen from INR15,400 to INR17,500 due to forward integration and capacity increases, with scope for further improvement.

The transcript on page 26 of the Sunlite Recycling Industries Limited H1 FY26 conference call does not explicitly mention the current or expected order book or pending orders. The discussion mainly covers: - Business mix ratio plans shifting from 90:10 to 70:30 (main copper code vs Busbar and ATC). - Revenue expectations of around INR 3,500 crores by FY28. - Capacity expansions in copper cathode and busbar segments. - Margins expected to improve gradually. - CapEx guidance of INR 40 crores for copper cathode expansion. - Utilization levels for busbar and ATC capacities. - No direct information on order book size or pending orders. Therefore, specific details regarding current or expected order books/pending orders are not disclosed in this portion of the call.