NMDC · tone and specificity signals across the available quarters.
Language signals
As merchant miners, we are in a more comfortable, more reassuring space than maybe our counterparts who are also the end consumers of what they mine. Naturally, that puts us in a slightly, not slightly, substantially better position.
Our pricing terms are very, very clear on that. There's absolutely no, absolutely no doubt about that. It is excluding all the taxes and duties. Any new taxes and duties are always in addition to that.
This is a fixed cost industry. So if your production goes down by 1 million ton, the per ton cost goes up by about more than INR 150 simply because 90% of my cost is fixed cost and only 10% of my cost is variable cost.
We have locked in approximately INR 3,112 crores of CapEx this year, which is already we have exceeded last year, and we expect to have a CapEx of around INR 4,000 crores in this financial year, which will almost be twice as much as we did last year.
We have to focus at least 1.5x or at least 2x of our production capacity in terms of evacuation. That is very important. Evacuation methods have to be fungible.
This figure, 70, might become 80, it might become 65. This is what we are targeting as of now. When we make a deep dive to each project, then we decide whether this project is required or not.
We have a growth in PAT on an annual or year-on-year 12-month basis of around 19%, and PBT, after exceptional item, of around 16%, which is indeed commendable. We did lose around 43 or 44 days of production due to industrial issues, but we did, in the other days, much more than that we have done previously.
This year, financials were good, but coming to April, I think we have shown again record production. May till date has also been rather encouraging. We have set ourselves a very, very steep target of 55 million ton, which is exactly 100% of our EC that we will have this year. So we have taken ourselves on the challenge to meet these aspirational goals.
We don't mind paying much more [for operational coking coal assets] because the way the steel making is going to grow in India and the way the blast furnace capacities... India, which imports around 55-60 million tons, is likely to go up to 150-160 million tons of import for India in terms of coking coal. So we see a big opportunity there.