The Ramco Cements Ltd

- No immediate plans for new fundraising through debt or equity were indicated. - The company expects its net debt to have peaked at around Rs. 5,000 Crores and intends to maintain it at this level. - Capex for upcoming projects, including the Kurnool line-2 and Bommanahalli land acquisition, will be primarily funded through internal accruals. - Management emphasized utilizing free cash flow and partially monetizing non-core assets (up to Rs. 500-600 Crores) if needed for funding. - No mention of fresh equity issuance; existing ESOP programs continue as before. - The company is confident that EBITDA growth and operational cash flows will support the planned capex without additional borrowings.

- FY2024 Capex revised to Rs.2,000 Crores due to de-bottlenecking and accelerated land acquisition for Bommanahalli project. - FY2025 Capex guidance set at Rs.1,700 Crores, primarily funded through internal accruals. - Major projects include Kurnool Line-2 expansion: doubling clinker capacity to 6.3 MTPA and cement capacity to 3 MTPA by FY2026, at Rs.1,250 Crores. - Additional capex includes railway siding, WHRS (Waste Heat Recovery System) expansion, grinding plant expansion in Odisha. - Ongoing land acquisition for Bommanahalli project (~3,000 acres needed), with incremental spend on land acquisition above previous estimates. - Maintenance capex expected at Rs.200-250 Crores per annum going forward. - Strategic approach to align capex with cash generation to avoid increase in borrowings beyond Rs.5,000 Crores. - Potential monetization of non-core assets (wind power) of up to 74% stake to support funding if required.

- Volume growth target is around 19-20 million tons for FY2025, up from 17.5 million tons in FY2024. - The company expects a 2 to 2.5 million ton increase in volume next year. - Debottlenecking initiatives can add an incremental 0.5 to 1 million tons of grinding capacity. - Capacity additions through Kurnool Line-2 and other projects planned, aiming to reach 22 million tons capacity. - Net debt expected to peak at Rs. 5,000 Crores, with capex largely funded by internal accruals. - Capex guidance for FY2025 is approximately Rs. 1,700 Crores, including Rs. 750 Crores for Kurnool Line-2. - Market share gains expected, especially in the East region, with consistent growth in all markets except West Bengal. - Prices remain volatile; volume growth rather than prices is key focus for future revenue growth.

- Volume growth target: Ramco Cements aims for 19 to 20 million tons in FY2025, up from 17.5 million tons in FY2024, indicating a 15-20% growth. - Capacity expansions: Ongoing expansions include the doubling of clinker and cement capacity at Kolimigundla, expected by FY2026, which will support volume growth and profitability. - EBITDA growth: The company expects EBITDA improvement through higher volumes and better cost efficiencies; Q3 FY2024 showed a 25% growth in blended EBITDA per ton. - Capex alignment: Capex (Rs.1,700 Crores in FY2025) is planned to be funded mainly by internal accruals, aiming to keep net debt stable (~Rs.5,000 Crores) and support earnings growth without excessive leverage. - Price outlook: Cement prices remain volatile but management is confident of recovery, supporting future margin improvement. - Operating cost: Efficiencies from new plants and renewable energy usage (wind power captive use) will aid margin expansion. Overall, Ramco Cements targets volume-driven revenue growth with stable gearing and margin improvement through cost efficiencies and capacity additions.

The transcript on pages 17-18 and surrounding pages does not explicitly mention the current or expected order book or pending orders for Ramco Cements Limited. However, key related insights include: - Cement volume growth is strong with 10% growth in Q3 and 25% growth in 9MFY24. - Ongoing capacity expansions including doubling clinker capacity at Kolimigundla (to 19 MTPA by FY2026) and cement capacity expansion with a large capex plan. - Management highlights growth in most markets except West Bengal, indicating expanding demand/orders. - Expected volume guidance: around 17.5 million tons for FY2024, and 19-20 million tons projected for FY2025. - No direct details on the order book or pending commercial orders were provided in this earnings call. For exact order book/pending orders, separate detailed disclosures or investor presentations may be needed.