1. Greenfield Metallurgica commissioning - The 252,000-254,000 MTPA Purulia plant starts commercial production on 23-24 September 2026, lifting group capacity from 2.56 lakh to 5.74 lakh MTPA. Management guides ₹40-60 crore revenue contribution in FY27 and ₹495-500 crore full-capacity potential at current prices, with an order book already at 130-135% of monthly supply.
2. SGB Limited premium migration - The warranty-backed grade reached \~50% of Q1 FY27 revenue, up from 15% in Q4 FY26, with \~65% expected in Q2 FY27. At ₹700-800 per tonne premium over base product against ₹250-300 added cost, the shift to 60-70% of revenue by FY27 end directly expands EBITDA margins.
3. MIGPL acquisition and debottlenecking - The wholly-owned subsidiary, acquired 8 November 2025 at NAV, has lifted capacity from 57,600 to 72,000 MTPA and is expected to run at 90-95% efficiency. At \~₹17 crore acquisition cost against ₹10-11 crore annual earnings, it adds revenue of ₹55-60 crore in FY27 at a fraction of greenfield capex.
4. Brownfield Sarbari expansion - The Purulia line reached 250,000 TPA on 21 January 2026, up from 132,000 TPA pre-listing, with crushing labour cut to 20-30% of prior levels. The completed capex reduces consumable and labour costs while adding 44,000 TPA of sellable capacity at 97-98% plant utilization.
5. Rajasthan export hub - Land is finalized in Rajasthan on a turnkey basis, with a smaller, capex-light plant expected 4-5 months after closing, targeting Gujarat, Rajasthan and export markets. Freight savings of ₹3-4 per kilo to western ports and a 4-5% export margin premium make this the clearest path to the Gulf and Africa markets.
6. Renewable energy cost reduction - Solar rooftop installation targets 60-70% renewable dependence within 4-5 months, with West Bengal net metering available. Management expects 20-30% savings on electricity bills, contributing \~0.3-0.4% to net cost reduction.