1. Solar power installation - Capital work-in-progress for solar panel installation at the Gummidipoondi plant rose to ₹43.3 Cr in FY25 from ₹20.3 Cr in FY24. On-site captive generation can lower power costs, which is material for a company with an EBITDA of only ₹0.71 Cr and a power segment that recently turned loss-making.
2. Windmill asset disposal - The company sold windmill land for ₹0.65 Cr and plant & machinery for ₹56.7 Cr in FY25, with the remaining plant & machinery also slated for sale. The ₹57 Cr of proceeds already received equals 2.6x total debt, offering a path to a debt-free balance sheet and a lower interest burden that directly lifts net profit.
3. Domestic steel demand growth - India's steel consumption is projected to grow at a 7-8% CAGR over the next five years, supported by the ₹111 lakh crore National Infrastructure Pipeline and policies favouring domestically manufactured steel. Rising end-market demand provides a volume tailwind for the company's core steel segment, which already generates the bulk of revenue.