• Debt reduction plan: The company plans to use 90% of its ₹675 crore fresh IPO issue proceeds to pay down its ₹1,030 crore debt, which will reduce finance costs by approximately ₹40 to ₹50 crore.
• Peak debt guidance: Management expects to add at most ₹300 crore in new debt to fund capex in Saudi Arabia, keeping overall future debt at around ₹700 to ₹800 crore.
• Data center expansion: Beyond supplying structures for solar, wind, and transmission lines, the company is constructing a plant in Bhuj to manufacture pre-engineered steel buildings for data centers.
• Saudi Arabia facility: Karamtara is investing around ₹400 crore in a nearly completed manufacturing plant in Saudi Arabia to capture long-term local-content demand for solar and power transmission projects.
• Capacity utilization outlook: Capacity utilization dipped to roughly 60% following recent capex that expanded capacity to 310,000 tonnes, but management expects asset sweating and utilization to improve over the next two years.