Q2 earnings call: EBITDA per ton guidance raised, FY29 volume target intact

Management guided margin improvementMulti-year targets disclosedCFO laid out a debt-reduction roadmapInvestor Communications View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+0.1%Reaction day

₹684.30

prior close

₹682.20

announcement price

After-mkt

timing

Nifty Midcap 150market+0.9%-0.8% vs market

Iron & Steel peers, median of 10sector+0.7%-0.6% vs sector

On the reaction day the stock moved 0.8 pts less than Nifty Midcap 150 and 0.6 pts less than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.2

10m

+0.3

15m

+0.2

30m

+0.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.1+0.9-0.8+0.7-0.6

Next day

-1.7-0.1-1.6-0.4-1.3

-1.0+1.2-2.2+1.7-2.7

-0.8+2.2-3.0+2.3-3.1

+0.6+3.8-3.2+4.4-3.9

+0.4+5.8-5.5+5.6-5.3

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15d

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UpDownMarket · Nifty Midcap 150Sector · Iron & Steel peers, median of 10Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Q2 recovered from Q1 gas and logistics disruptions: revenue, EBITDA and PAT rose about 14%, 8% and 17% in sequence. H1: EBITDA INR 2,762 crore, PAT INR 1,666 crore. FY volume guidance was cut to 4-6% from 7-9%, but EBITDA per ton guidance rose to INR 20,000-22,000. Net debt was INR 3,121 crore. Exports rose 36% year on year, CARE upgraded the rating to AA+ Stable, and the FY29 target of 3.5 million tons stands. Chinese imports are a risk.

Likely market impact

Higher per-ton EBITDA guidance and an AA+ rating support the stock, but lower volume targets and rising Chinese import pressure are risks.