• Promoter stake sale: The promoter group sold a 2.99% stake to comply with SEBI's 75% minimum public shareholding threshold, with no immediate plans for further stake sales in the near future.
• Growth and operations: The company maintained its 20% volume and EBITDA growth target despite Q1 gas shortages reducing operations to 65%, noting gas supplies normalized by the end of June to support a standard Q2.
• Order book margins: Absorbing gas disruptions without raising prices on 35 to 40 days of committed orders resulted in an EBITDA impact of ₹4 to ₹5 per kg, though subsequent orders incorporate price adjustments under a cost-plus model.
• Tire cord expansion: Following a trial order from a major tire manufacturer, the company expects ₹200 to ₹300 crore in revenue from its 20,000-ton pilot capacity, with long-term plans to scale to a 2 lakh-ton facility generating ₹3,000 crore at an ~20% EBITDA margin over 5 to 7 years.