• Top-line guidance: Revenue is projected to reach approximately ₹7,500 crore in FY27 driven by a newly commissioned 2 million tonne pellet plant and mining capacity expansion to 6.3 million tonnes, before scaling to ₹12,000 crore in FY28.
• Battery storage business: The 20 GW Phase 1 battery energy storage project involves ₹1,200 crore capex and is expected to generate ₹5,000 crore in its first year at 5–7% EBITDA margins, eventually reaching ₹15,000–16,000 crore at 80% capacity.
• Margin and ROCE outlook: Blended EBITDA margins will compress from 20–25% to around 15% as high-volume, lower-margin segments like battery storage and cold rolled complex scale up, though ROCE is expected to remain in the double digits.
• Capex and expansion pipeline: The company's ₹2,000 crore capex is being funded via internal accruals, with upcoming pipeline projects including Phase 2 of battery storage and a newly approved 1 million tonne greenfield steel plant.