Slides
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Investor Presentation Q2 – H1 FY2026 Igniting Next Phase of Growth GO DAWARI POWE R & ISPAT LTD.
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This presentation and the accompanying slides (the “Presentation”), which have been prepared by Godawari Power and Ispat Limited (the “Company”) solely for the information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. Certain statements in this presentation concerning our future growth prospects are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The Risk and uncertainties relating to the statements include, but are not limited to, risks and uncertainties regarding fiscal policy, competition, inflationary pressures and general economic conditions affecting demand / supply and price conditions in domestic and international markets. The company does not undertake to update any forward -looking statement that may be made from time to time by or on behalf of the company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. The Company does not make any promise to update/provide such presentation along with results to be declared in the coming years. 2 Disclaimer
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3 Business at a Glance 1 25+ years of Industry experience, incorporated in 1999 2 Engaged in Integrated Steel business with backward integration of 2 captive iron ore mines & Captive Power Generation 3 Comprehensive product portfolio spanning the entire value chain— from Iron Ore and Pellets to DRI, Steel and finished products 6 New initiatives – o Non-ferrous metal recycling by acquiring 43.96% stake in Jammu Pigments Ltd. o Setting up 0.7 MT CRM Complex for manufacturing Cold Rolled Steel, ZAM Steel etc. o Entering Battery Energy Storage System (BESS) Manufacturing. o Proposed integrated steel plant with a Capacity of 1 MTPA. o 250 MW Solar power project for meeting power requirement of ISP & CRM. o 125 MW Solar Project for meeting power requirement of new Pellet Plant, mines and SMS Expansion. 7 Focus on ESG - Reducing carbon footprints with – o 165 MW Solar Power o 28.5 MW Biomass o 42 MW WHRB o 1.5 MW Wind Power Revenue CAGR (FY20-25) 10% EBITDA CAGR (FY20-25) 14% EBITDA Margin (FY25) 22% PAT Margin (FY25) 15% PAT CAGR (FY20-25) 36% Net Cash (FY25) Rs 863 Cr 3 . 5 Expanding capacities substantially for Iron Ore Mining, Pellets, Solar Power Plants and setting up 0.7MnT CRM Complex Iron Ore Production (FY25) 2.3 MnT Pellet Production (FY25) 2.4 MnT Sponge Iron Production (FY25) 0.6 MnT 4 Company’s products are approved by PGCIL for use in Transmission Projects
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Q2 FY26 Performance Highlights 4 260 324 247 Q2FY26 Q1FY26 Q2FY25 Operating EBITDA (Rs. Cr.) 162 216 159 Q2FY26 Q1FY26 Q2FY25 PAT (Rs. Cr.) 1,308 1,323 1,268 Q2FY26 Q1FY26 Q2FY25 Revenue (Rs. Cr.) 20% 24% 19% Q2FY26 Q1FY26 Q2FY25 Operating EBITDA Margin (%) Financial Performance (Consolidated) Performance Highlights o Revenue, EBITDA and PAT increased slightly on YoY basis, due to increased sales volume of pellet and rolled structural products. o Sales, EBIDTA & PAT on QoQ basis was lower, primarily due to decline in sales realizations of Iron Ore Pellets and finished steel. o Production volumes of Iron Ore Mining, Pellets and Value Added Steel Products increased significantly by 29%, 31% and 5% (YoY). o Sales volumes of Pellets increased significantly by 71% whereas Value added Steel Products saw temporary drop of 7% (YoY). o Realization of all products except Ferro Alloys and Galvanized Fabricated Products showed a drop (YoY).
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H1 FY26 Performance Highlights 5 584 654 H1FY26 H1FY25 Operating EBITDA (Rs. Cr.) 378 446 H1FY26 H1FY25 PAT (Rs. Cr.) 2,631 2,610 H1FY26 H1FY25 Revenue (Rs. Cr.) 22% 25% H1FY26 H1FY25 Operating EBITDA Margin (%) Financial Performance (Consolidated) Performance Highlights o Sales turnover remained largely stable because of higher production & sales volume of Pellets & Galvanized Fabricated Products whereas EBIDTA & PAT was lower, primarily due to decline in sales realizations. o Production volumes of Iron Ore Mining, Pellets and Value Added Steel Products increased by 18%, 16% and 3% (YoY). o Sales volumes of Pellets increased significantly by 30% whereas Value added Steel Products saw temporary drop of 11% (YoY). o Realization of products except Ferro Alloys and Galvanized Fabricated Products showed a drop (YoY).
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6 Q2 & H1 FY26 Key Strategic Updates 04 01 02 03 05 06 07 Revenue, EBITDA, and PAT saw a modest YoY uptick driven by higher pellet and structural sales, while QoQ performance softened mainly due to lower sales realizations. Completed land acquisition of 452 acre for setting up integrated steel plant and CRM Complex. Successfully completed public hearing for expansion in mining capacity of Ari Dongri Iron Ore Mines from 2.35 MTPA to 6 MTPA Board Approved establishment of 0.7 MnT CRM Complex for manufacture of Cold Rolled Steel products. Operation at Boria Tibbu Mines resumed in May 25 after GPIL received approval for updated 5 year mining plan by Indian Bureau of Mines. Godawari New Energy Private Limited, a wholly owned subsidiary of GPIL for setting up Battery Energy Storage Plant in Maharas htra. 112 acres of Land for setting up the Project has been acquired. Got approval of PGCIL for supply of Steel Billets to all manufacturers of galvanized steel structures for their transmission projects. Board approved to set up 250 MW Solar Project in addition to earlier 125MW for captive use of ISP and CRM. Land acquisition f or the same completed. 08
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7 Business Model Simplified Strong Foundation Finished Products - Aligned with India’s Infrastructure Goals New Initiatives - To Be Future Ready Iron Ore Mining Iron Ore Pellets Non Ferrous Metal Recycling Battery Storage* Significant Competitive Advantage- o Cost Advantage through Captive Iron Ore Mines ensuring low input costs o Premium Pricing for High-Grade Pellets leading to higher margins through superior product quality Structural Steel Products Ferro Alloys Cold Rolled Coils* Galvanized Fabricated Products *New Project
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8 Investment Thesis Captive iron ore mines with 165 MnT reserves and 35+ years life; current capacity of 3.05 MnT, set to rise to 6.7 MnT by FY26 Produces High-Grade Pellets commanding a premium of Rs. 1,000–1,500 per Ton above market rates Net Cash Balance Sheet and strong Operating Cash Flows, geared to support the Capex Plans Strong Growth Plans - Ongoing Plans – Substantial increase in capacities of iron ore mining & pellets plant to 6.7MnT & 4.7MnT respectively expected by end of FY26. New Plans - Setting up 0.7 MnT CRM Complex with an estimated investment of Rs 900 Crores. - Venturing into BESS Manufacturing with initial investment of Rs 700 Crores. - Proposed Integrated Steel Plant with a capacity of 1 MTPA to start after capacity enhancement in Iron Ore Mining. - 250 MW Solar Project for meeting power requirement of ISP & CRM, in addition to 125MW Solar Project approved earlier. Company’s products are approved by PGCIL for use in Transmission Projects leading to improved margins in company’s value-added products Committed to sustainability with a Net Zero carbon goal by 2050
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Capex Plan - Igniting Next Phase of Growth 9 Project Particulars Existing Capacity ( MnT) Proposed Capacity Expansion (MnT) Total Capacity After Expansion Capex ( Approx. in Rs Cr ) Expected Completion Current Status Project Cost Cost Incurred Balance to be Incurred Iron Ore Mining 2.35 3.65 6.00 - - - Q3 FY 26 Public hearing for expansion in mining capacity completed and environment approval expected to be received by Dec 2025, which is in final stage of clearance. Crushing & Beneficiation 0.60 5.40 6.00 325 175 150 6 Months from Environment Approval Pellet Plant 2.70 2.00 4.70 600 486 114 Q3 FY 26 Pre-commissioning trials are going on. Project expected to be commissioned by end of Nov -25. Awaiting CTO from State Environment Control Board. SMS 0.525 0.05 0.575 13 2 11 Q4 Expected production in Q4FY26 CRM Complex - 0.7 0.7 900 1 899 Land for project acquired and orders for major equipment placed. Project to be funded by Rs 300 cr Internal accruals and Rs 600 Cr Debt. Solar Power Projects 165 MW 125 MW 290 MW 395 46 349 Q4 FY 26 Land acquisition completed for additional Solar Capacity (125MW) for captive use of 2MnT pellet plant, beneficiation plant at Ari Dongri & SMS Expansion. Orders placed and construction work started. 0 MW 250 MW 250 MW 750 50 700 Q4 FY 27 For meeting power requirement of ISP and CRM. Land acquisition completed. BESS Project - 10 GW 10 GW 700 - - Will be 100% subsidiary of GPIL. Capex to be funded 40% by equity and 60% by debt. Energy Efficiency & Decarbonisation Project - - - 75 60 15 March 2026 Majority of work has been completed.
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Emerging Opportunities 10 Godawari New Energy Private Limited Jammu Pigments Ltd. Metal Product Existing Capacity Lead (Alloy, Oxide & compounds) 1,26,198 TPA Zinc (Oxide, Sulphate & compounds) 29,431 TPA Copper (Cathode, Sulphate) 4,981 TPA Cadmium (Metal, Alloy) 8,400 TPA Other Metals 27,562 TPA Will focus on the Battery Energy storage (BESS) sector The Company is 100% subsidiary of GPIL In the first phase, the Company proposes to Invest Rs 700 Crores for 10GW BESS Project. The CRM Project will supply part of Raw material for manufacture of container to this project. Will focus on recycling of non-ferrous metals GPIL has acquired 43.96% stake in Jammu Pigments Ltd; balance is with Mr. Ramesh Kumar Agarwal & Others This will lead to synergy benefits, in the form of recycling of Zinc residue left over in the process of galvanizing undertaken at GPIL and also diversification
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FY26 Guidance – Status Check 11 Iron Ore Mining Iron Ore Pellets Sponge Iron Steel Billets FY26 Guidance H1FY26 Performance % Achieved 3.0 MnT 3.0 MnT 0.594 MnT 0.5 MnT 1.29 MnT 1.34 MnT 0.312 MnT 0.23 MnT 43% 45% 53% 46% Rolled Products 0.375 MnT 0.204 MnT 54% Ferro Alloys 91,500 T 50,252 T 55%
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Captive Mining Provides Competitive Edge 12 3,000 4,346 4,270 6,800 7,300 5,500 6,200 6,350 6215 5680 2,181 2,310 2,462 2,375 2,800 3,000 2,800 3,000 2960 2940 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q1FY26 Q2FY26 Market Price of Iron Ore Captive Ore Landed Cost Note – Prices are indicative only
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Detailed Production Summary 13 Description of Goods M.T./ KWH Q2FY26 Q1FY26 QoQ (%) Q2FY25 YoY (%) H1FY26 H1FY25 YoY (%) Iron ore Mining M.T.s 6,48,614 6,42,243 1% 5,01,140 29% 12,90,857 10,91,628 18% Iron ore Pellets M.T.s 6,67,200 6,73,750 -1% 5,08,200 31% 13,40,950 11,59,900 16% Sponge Iron M.T.s 1,73,386 1,38,664 25% 1,79,891 -4% 3,12,050 3,36,698 -7% Steel Billets M.T.s 1,26,660 1,03,470 22% 1,26,710 0% 2,30,130 2,40,190 -4% M.S. Rounds M.T.s 59,627 47,450 26% 59,743 0% 1,07,077 1,04,946 2% H.B. Wires M.T.s 25,935 25,235 3% 26,140 -1% 51,170 49,965 2% Ferro Alloys - Consolidated M.T.s 23,143 27,109 -15% 24,932 -7% 50,252 49,006 3% Galvanized Fabricated Products M.T.s 20,294 23,545 -14% 17,362 17% 43,840 32,890 33% Rolled Structural Product M.T.s 24,359 21,737 12% - NA 46,096 - NA Power Generation - Consolidated Units (Cr) KWH 32 29 9% 32 -2% 61 64 -4%
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Detailed Sales Volume Summary 14 Description of Goods M.T./ KWH Q2FY26 Q1FY26 QoQ (%) Q2FY25 YoY (%) H1FY26 H1FY25 YoY (%) Iron Ore Pellet M.T.s 4,42,758 4,66,575 -5% 2,58,340 71% 9,09,333 7,00,442 30% Sponge Iron M.T.s 41,845 12,828 226% 38,239 9% 54,674 66,371 -18% Steel Billets M.T.s 38,628 35,439 9% 58,884 -34% 74,067 1,21,812 -39% M.S. Rounds M.T.s 31,934 24,852 28% 32,999 -3% 56,785 53,422 6% H.B. Wire M.T.s 25,884 25,164 3% 25,556 1% 51,048 49,397 3% Ferro Alloys - Consolidated M.T.s 21,654 25,456 -15% 24,508 -12% 47,110 44,011 7% Galvanized Fabricated Product M.T.s 18,090 24,150 -25% 18,172 0% 42,240 31,481 34% Rolled Structural Product M.T.s 5,301 2,107 152% - NA 7,408 - NA
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Detailed Realization Summary (Ex plant realization excluding export freight and expenses) 15 Description of Goods M.T./ KWH Q2FY26 Q1FY26 QoQ (%) Q2FY25 YoY (%) H1FY26 H1FY25 YoY (%) Iron Ore Pellet INR/M.T.s 9,364 9,828 -5% 10,681 -12% 9,602 10,569 -9% Sponge Iron INR/M.T.s 25,571 24,756 3% 27,705 -8% 25,380 29,096 -13% Steel Billets INR/M.T.s 39,454 41,682 -5% 41,580 -5% 40,520 43,523 -7% M.S. Rounds INR/M.T.s 42,167 44,408 -5% 44,077 -4% 43,148 45,580 -5% H.B. Wire INR/M.T.s 44,875 48,075 -7% 46,203 -3% 46,452 48,054 -3% Ferro Alloys - Consolidated INR/M.T.s 74,433 75,399 -1% 72,617 3% 74,949 72,440 3% Galvanized Fabricated Product INR/M.T.s 79,035 78,767 0% 74,874 6% 78,881 75,522 4% Rolled Structural Product INR/M.T.s 50,486 49,047 3% - NA 50,077 - NA
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GPIL Consolidated - Profit & Loss 16 Particulars (Rs. Crores) Q2FY26 Q1FY26 QoQ% Q2FY25 YoY% H1FY26 H1FY25 YoY% Net Sales 1,308 1,323 -1% 1,268 3% 2,631 2,610 1% Total Expenses 1,048 999 5% 1,021 3% 2,047 1,956 5% Other Income 19 22 -13% 23 -15% 42 53 -21% EBIDTA 260 324 -20% 247 5% 584 654 -11% EBIDTA Margin (%) 20% 24% 19% 22% 25% Depreciation 41 44 -6% 39 5% 85 78 10% Finance Costs 11 15 -26% 14 -17% 26 28 -4% Share of Profit/(Loss) of Associate & JV 3 3 1 7 3 Exceptional item 1 1 PBT 231 291 -21% 218 6% 521 605 -14% Tax 69 74 -7% 58 18% 143 159 -10% PAT from Ordinary Activities 162 216 -25% 159 1% 378 446 -15% OCI Net of Tax 9 1 -6 10 1 Total Comprehensive Income 170 218 -22% 154 11% 388 447 -13% PAT Attributable to Owners of Company 161 216 -25% 159 1% 377 446 -15% PAT Margin (%) 12% 16% 13% 14% 17% EPS for Continuing Operations - Diluted (INR) 2.61 3.50 -25% 2.58 1% 6.11 7.22 -15%
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GPIL Standalone Profit and Loss 17 Particulars (Rs. Crores) Q2FY26 Q1FY26 QoQ% Q2FY25 YoY% H1FY26 H1FY25 YoY% Net Sales 1,143 1,134 1% 1,096 4% 2,277 2,290 -1% Total Expenses 898 836 7% 866 4% 1,734 1,669 4% Other Income 115 24 372% 24 370% 139 52 168% EBIDTA 244 298 -18% 230 6% 543 621 -13% EBIDTA Margin (%) 21% 26% 21% 24% 27% Depreciation 36 39 -7% 35 4% 76 69 10% Finance Costs 10 13 -25% 11 -7% 23 23 2% Extra Ordinary Income PBT 313 270 16% 209 50% 583 582 0% Tax 65 70 -17% 54 7% 134 152 -16% PAT 248 201 27% 155 65% 449 429 6% PAT Margin (%) 22% 18% 14% 20% 19% EPS - Diluted (INR) 3.82 3.08 27% 2.37 65% 6.90 6.59 6%
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GPIL – Consolidated Balance Sheet 18 Particulars (Rs. Crores) 30.09.2025 31.03.2025 Particulars (Rs. Crores) 30.09.2025 31.03.2025 ASSETS EQUITY AND LIABILITIES Non Current assets EQUITY (a) Property, Plant and Equipment 2,642 2,644 (a) Equity share capital 61 61 (b) Capital work-in-progress 652 430 (b) Other equity 5,170 4,845 (c) Goodwill on Consolidation 26 26 (c) Non Controlling/Minority Interest 38 31 (d) Other intangible assets 49 52 Sub Total - Equity 5,269 4,937 (e) Right to use assets 20 2 LIABILITIES (f) Intangible assets under construction 1 7 Non-current liabilities (g) Investment in associates and joint ventures 383 457 (a) Financial Liabilities (h) Financial assets (i) Investments 15 14 (i) Borrowings 5 4 (ii) Loans 196 119 (ii) Lease Liabilities 3 0 (iii) Other financial assets 24 80 (b) Provisions 13 12 (i) Non current tax assets - (c) Deferred Tax Liabilities (net) 294 266 (j) Other non current assets 64 58 Sub Total - Non Current Assets 4,071 3,890 Sub Total - Non Current Liabilities 315 282 Current Assets Current liabilities (a) Inventories 862 932 (b) Financial assets - (a) Financial Liabilities (i) Current Investments (i) Borrowings 184 305 (ii) Trade Receivables 99 132 (ii) Lease Liabilities 0 (iii) Cash and cash equivalents 328 329 (iii) Trade Payables - MSME 6 1 (iv) Bank balances other than (iii) above 349 365 - Others 298 459 (v) Other financial assets 10 1 (iv) Other financial liabilities 94 78 (vi) Loans 181 169 (b) Other current liabilities 43 53 (c) Current tax assets (net) 1 1 (c) Provisions 27 28 (d) Other current assets 356 337 (d) Current tax liabilities (net) 20 14 Sub Total - Current Assets 2,186 2,267 Sub Total - Current Liabilities 673 938 Total Assets 6,257 6,157 Total Equity and Liabilities 6,257 6,157
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GPIL – Standalone Balance Sheet 19 Particulars (Rs. Crores) 30.09.2025 31.03.2025 Particulars (Rs. Crores) 30.09.2025 31.03.2025 ASSETS EQUITY AND LIABILITIES Non Current assets EQUITY (a) Property, Plant and Equipment 2,204 2,217 (a) Equity share capital 65 65 (b) Capital work-in-progress 525 332 (b) Other equity 4,986 4,592 (c) Other intangible assets 49 52 (d) Intangible assets under construction 1 2 Sub Total - Equity 5,051 4,656 (e) Right of Use Assets 20 7 (e) Financial assets LIABILITIES (i) Investments 947 913 Non-current liabilities (ii) Loans 196 119 (a) Financial Liabilities (i) Borrowings (iii) Other financial assets 15 73 (ii) Lease Liabilities 3 0 (f) Non current tax assets 0 0 (b) Provisions 10 9 (g) Other non current assets 50 47 (c) Deferred Tax Liabilities (net) 235 221 Sub Total - Non Current Assets 4,007 3,762 Sub Total - Non Current Liabilities 248 230 Current Assets Current liabilities (a) Inventories 741 694 (b) Financial assets (a) Financial Liabilities (i) Borrowings 159 259 (i) Investments (ii) Lease Liabilities 0 0 (ii) Trade Receivables 44 86 (ii) Trade Payables – MSME 3 0 (iii) Cash and cash equivalents 305 328 - Others 236 363 (iv) Bank balances other than (iii) above 344 355 (iii) Other financial liabilities 77 68 (v) Loans 108 163 (b) Other current liabilities 32 35 (vi) Other Financial Assets 6 21 (c) Provisions 27 28 (C) Other current assets 297 245 (d) Current tax liabilities (net) 20 14 Sub Total - Current Assets 1,845 1,892 Sub Total - Current Liabilities 554 767 Total Assets 5,852 5,654 Total Equity and Liabilities 5,852 5,654
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Unique Presence Across Steel Value Chain 20 Indicates FY25 Utilization (%) The Company is also having Fabrication and Galvanizing plant of 0.11 MT Note: MT - Million tonnes Capacity Asset FY25 Utilization (%) 3.05 MT 77% 2.7 MT 0.594 MT 0.525 MT 92% 93% 75% 91% 100% 93% Capacity Asset FY25 Utilization (%) 0.4 MT 0.10 MT 91,500T 236 MW 56% 100% 100% 89% MS Rounds HB Wires Ferro Alloys Power (Incl Solar & Wind) Iron Ore Mining Iron Ore Pellets Sponge Iron Steel Billets
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Large Portfolio of Long-life Assets 21 Represent Regional Presence Pelletisation Plant Odisha – Ardent Steel Keonjhar: 0.8 mn MTPA Bemetara, Chhattisgarh 52MW HFAL Solar Power Plant Siltara Integrated Plant Chhattisgarh 3.3 mn MTPA Iron Ore Beneficiation 2.7 mn MTPA Iron Ore Pellets 0.594 mn MTPA Sponge Iron 0.525 mn MTPA Steel Billets 0.2 mn MTPA Rolling Mill 0.1 mn MTPA HB Wire 98 MW Captive Power 16,500 MTPA Ferro Alloys Urla Industrial Area 0.2 mn MTPA Rolling Mill 0.11 Mn MTPA Fabrication Shop 60,500 TPA Ferro Alloys (HFAL) 20MW Captive Power (HFAL) 14,500 TPA Ferro Alloys (AFAL) 8 MW Captive Power (AFAL) Other Locations 8.50 MW Bio Mass IPP (HFAL- Mahasamund) 1.50 MW Wind Mill (Karnataka) Rajnandgaon, Chhattisgarh 70MW GPIL Solar Power Plant Maharumkala, Chhattisgarh 24MW GPIL Solar Power Plant Tulsipur, Chhattisgarh 18MW GPIL Solar Power Plant Ari Dongri Iron ore captive mine Chhattisgarh: 2.35 mn MTPA Boria Tibu Iron ore captive mine Chhattisgarh: 0.7 mn MTPA GPIL Plants GPIL Mines Indicators Represent Recycling Business JPL Plant Lead 126,198 MTPA Zinc 29,431 MTPA Copper 4,981 MTPA Cadmium 8,400 MTPA Other Metals 27,562 MTPA JPL Plants Indicator
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Simplified Group Structure 22 Alok Ferro Alloys Limited (AFAL) Godawari Energy Limited Godawari Power and Ispat Limited (GPIL) 100% 100% Jammu Pigments Limited (JPL) Hira Ferro Alloys Limited (HFAL) 43.96% 96.02% Associates JVs Ardent Steel Private Limited 33.30% 37.85% 23.9% 35.36% Raipur Infrastructure Company Limited Chhattisgarh Captive Coal Mining Private Limited Chhattisgarh Ispat Bhumi Limited GPIL has completed acquisition of 43.96% stake in the share capital of Jammu Pigments Limited (JPL) on a fully diluted basis as on 31st March’25. No substantial business No change in structure; will remain as they are
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International & Domestic Tailwinds 23 Global iron ore prices have remained within a range of $95 to $110 per ton so far this year, currently hovering around $102/t. The first half of the year was supported by weather related production losses. The second half will see increased supply and might put a lid on iron ore prices. Geopolitical tensions continue to impact global demand and supply, while China’s stimulus measures to boost consumption—including direct cash transfers to support population growth—are expected to lend some demand support. 2025 iron ore prices in China are expected to range between US$90–105/t, averaging around US$97– 98/t. The World Steel Association, however, anticipates China’s steel demand to decline by 2% in 2025 and by 1% in 2026 as the housing market stabilizes. Iron ore prices (NMDC – Fines 64Fe) have been range bound except seasonal variation between Rs4500-5500/t. Iron ore prices are expected to remain firm with the monsoon finally receding. Iron ore pellet prices have followed the same trend and has traded within a narrow band of Rs.8500 to Rs. 10,000 per/t YTD, with current levels around Rs. 9,750/t. Same trend to continue for 2HFY26. According to the World Steel Association, India’s steel demand is expected to maintain strong momentum, growing by 9% in both 2025 & 2026, supported by sustained expansion across all major steel-consuming sectors. By 2026, India’s steel demand is projected to be nearly 75MnT higher than in 2020. Demand will be driven by robust growth in infrastructure and construction—spurred by government-led initiatives such as the National Infrastructure Pipeline and Pradhan Mantri Awas Yojana (PMAY). International Market Domestic Market
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Sustainability at the Core
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Carbon Footprint Reduction: Strategies for Greener Future 25 Decarbonisation Initiatives Projects Current Status Focusing on energy-efficient, R&D projects and fuel switch to cut total plant CO2 emissions by 9-10% GPIL & Siemens Energy signed MoU to execute the waste heat recovery project. It is under implementation & is expected to be completed by March’26 Dash-Board for CBAM (Carbon Border Adjustment Mechanism) & GHG Emissions Monitoring Implemented with limited accessibility Installation of a 5TPD pilot carbon capture & utilization unit LOI issued to IIT Mumbai for technological transfer of 5TPD CCU Unit and is expected to be completed by March’26. Switching of Fuels in new Pellet Plant from Coal Gas to Natural Gas which will result in 64% reduction in CO2 Emission Has engaged Haryana Gas Company for a temporary supply agreement along with GAIL & last mile connectivity started. Initiated ISO 50001 Energy Management System Certification obtained. Features & Benefits of Decarbonisation Strategies Capex Rs. 75 Cr. Cost Savings Rs.38 Cr. Payback Period 3 years Output 11MW of additional power generation without extra fuel Target 2050 – Net Zero Carbon Emission 2.89 2.75 2.51 2.46 2.42 2.35 2.25 2.1 1.95 0 FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY30 FY50 tCO2/Ton of Steel GPIL is a member of Indian Hydrogen Alliance & Member of Consortium formed by Ministry of Steel and IIMT for utilization of Hydrogen in Steel production
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CO2 Emissions Per Ton of Steel 26 CARBON BORDER ADJUSTMENT MECHANISM (CBAM)- By Centra World WORLD STEEL ASSOCIATION (WSA) (ISO 14064 STANDARD) Assured By SGS India Ltd. Financial Year (FY) tco2 / Ton of Steel FY 22-23 2.57 FY 23-24 2.49 FY 24-25 2.37 Financial Year (FY) tco2 / Ton of Steel FY 22-23 2.82 FY 23-24 2.55 FY 24-25 2.50 All The emission calculations are based solely on Fixed Carbon Basis.
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International Certificates Achieved 27 The Earth does not belong to us, We belong to earth ISO 50001:2018 (EnMS) ISO 27001:2022 (ISMS) ISO 26000 (CSR) Great Place To Work Certified ISO 14001:2015 (EMS) ISO 9001:2015 (QMS) ISO 45001:2018 (OH & SMS) New Certifications Implemented in 2024-25 Under Implementation Progress….
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Strong focus on Sustainability Strengthening the ESG Framework 28 G Governance S Social E Environmental o Investing in environmentally friendly technologies o Focussed on renewable sources of energy o Reducing carbon footprints – aiming at Carbon Neutral growth through new solar PV projects o Strong community engagement o Talent development through skill set training and mentoring o Developing a stable eco – system of vendors o Strategic Clarity – delivering as per stated strategy (Sale of non core assets; balance sheet strengthening) o Disciplined capital allocation o Robust risk management framework Aligned with United Nations’ 10 principles for manufacturing responsibility and environmental sustainability
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CSR Activities – Serving Society through Industry 29 Awareness Program Auditorium NIT Raipur Clean Drinking Water Facility Environment Conservation Old Age Home Infrastructure Development
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Appendix
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Board of Directors 31 Mr. B L Agrawal (Chairman & Managing Director) 1st generation entrepreneur with almost 4 decades of experience; Graduated as an Electronic Engineer; started GPIL Mr. Dinesh Agrawal (Whole Time Director) 2+ decades of association with GPIL; 2nd generation entrepreneur; Electrical Engineer; Overseeing setting up of captive power plant Mr. Dinesh Gandhi (Executive Director) 3 decades of experience in Accounts, Finance & Project Financing; Chartered Accountant and Company Secretary Mr. Vinod Pillai (Non-Executive Director) 2 decades of experience in Sales, Administration, Liaison & Logistics; Commerce graduate Mr. Siddharth Agrawal (Executive Director) MBA with over 10 years of experience in various competencies especially in Solar Power Mr Abhishek Agrawal (Executive Director) 2nd generation entrepreneur; Masters in International Business from Leeds University, Started pellet plant in GPIL Mr. Hukam Chand Daga (Independent Director) 4+ decades of experience in various Aditya Birla Group companies namely Hindalco - Renusagar, Grasim Industries, Essel Mining etc. Mr. Sunil Duggal (Independent Director) 37 years of experience in leading high performance Teams; Served as CEO of Vedanta Ltd. and Hindustan Zinc Ltd. Mr Raj Kamal Bindal MCOM, CA & MBA; 22 years experience in areas of Energy, Infrastructure, Project Management, Financial Services and Infrastructure Finance Mr. Samir Agrawal (Independent Director) CA, CS, CFA; 20+ years of experience in sphere of capital raising, mergers and acquisitions, financial structuring and corporate restructuring Mrs. Neha Sunil Huddar (Independent Woman Director) Experience of 40yrs+ in finance, accounts, HR & compliance management; worked as Head of Finance in Reliance Foundation; VP Payroll at RIL Mrs. Roma Balwani (Independent Woman Director) 4 decades of experience in Manufacturing companies like Vedanta Group, L&T, Mahindra Group in various aspects of strategic business (Independent Director)
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Shareholding Pattern on 30th Sept’2025 32 63.51% 36.49% Promoter Public Particulars No. of Shares % of Total Sh. Domestic Institutions Promoter Non Institution FPI Total 1,63,21,464 42,52,55,795 18,37,02,477 4,43,36,992 66,96,16,728 2.44 63.51 27.43 6.62 100.00 Shareholding Pattern 30th Sep’ 2025
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Past Operational Performance at a Glance 33 Trend of Iron Ore Mining (mt) Trend of Pellet Production (mt) Trend of Sponge Iron Production (mt) Trend of Captive Power Generation - GPIL (kwh in Cr) Standalone numbers 693,612 326,358 444,695 657,328 1,175,090 1,579,693 1,547,384 1,657,629 1,699,920 2,312,888 2,595,953 2,307,075 2,341,876 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY20 FY 21 FY22 FY23 FY24 FY25 619,620 902,550 1,532,200 1,580,850 1,495,100 1,841,050 1,933,250 1,999,150 2,256,550 2,399,500 2,616,500 2,438,950 2,448,650 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY20 FY 21 FY22 FY23 FY24 FY25 293,887 371,784 381,059 491,652 434,538 439,139 460,008 494,955 494,991 494,982 494991 593,991 593,996 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY20 FY 21 FY22 FY23 FY24 FY25 40 43 43 47 46 48 44 44 44 43 59 76 83 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY20 FY 21 FY22 FY23 FY24 FY25
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Past Operational Performance at a Glance (Ctd.)... 34 Trend of Steel Production (mt) Trend of Silico Manganese - GPIL (mt) MS Rounds Production (mt) HB Wire Production (mt) 185,021 188,190 177,970 227,581 204,162 197,596 298,418 344,610 350,865 327,050 325070 479,800 488,350 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY20 FY 21 FY22 FY23 FY24 FY25 9,434 11,116 11,403 13,700 13,136 13,772 10,537 10,517 14,178 16,152 16,492 16,444 16,497 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY20 FY 21 FY22 FY23 FY24 FY25 93,290 94,786 75,573 95,965 109,984 142,101 181,987 183,187 261,961 223,268 173,139 238,685 223,755 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY20 FY 21 FY22 FY23 FY24 FY25 94,667 90,575 78,145 77,894 101,101 116,555 134,559 130,807 97,698 36,046 53,622 81,500 99,999 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY20 FY 21 FY22 FY23 FY24 FY25 Standalone numbers
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Past Sales Realisations 35 7,872 7,798 5,067 4,360 5,365 6,809 7,091 8,607 12,390 9,409 10,171 10,060 FY 14 FY 15 FY 16 FY 17 FY 18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 18,277 18,934 13,310 12,383 16,678 19,736 16,897 20,645 31,746 33,804 30,418 29,123 FY 14FY 15FY 16FY 17FY 18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 28,681 29,493 22,689 21,830 27,720 33,072 28,590 33,545 43,427 49,512 43,937 42,971 FY 14FY 15FY 16FY 17FY 18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Iron ore Pellet Sponge Iron Steel Billets M.S. Round H.B. Wire Silico Manganese 33,265 33,409 27,034 26,330 32,460 38,740 33,327 37,335 48,092 52,331 47,151 45,455 FY 14 FY 15 FY 16 FY 17 FY 18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 34,683 36,169 28,080 28,063 34,015 40,666 35,182 36,898 47,981 53,926 48,974 47,241 FY 14FY 15FY 16FY 17FY 18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 51,665 53,365 43,139 52,696 64,632 67,611 63,898 63,186 98,222 80,354 66,255 67,590 FY 14 FY 15 FY 16 FY 17 FY 18 FY19 FY20 FY21 FY22 FY23 FY24 FY25
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GPIL Consolidated – Historical Profit & Loss 36 Particulars FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 Net Sales 5,376 5,455 5,753 5,399 3,958 3,289 3,322 2,527 Total Expenses 4,182 4,127 4,589 3,535 2,821 2,664 2,532 1,931 Other Income 96 98 104 29 3 5 6 9 EBITDA 1,194 1,328 1,164 1,864 1,137 629 795 606 EBITDA Margin (%) 22% 24% 20% 35% 29% 19% 24% 24% Depreciation 155 141 124 105 109 137 133 132 Finance Costs 55 60 51 20 115 212 253 263 PBT 1,092 1,256 1,083 1,933 947 280 410 210 Tax 279 320 289 451 307 95 153 -6 PAT (attributable to Owner) 812 935 793 1,481 627 174 261 215 All figures in INR Crore
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GPIL Consolidated – Historical Balance Sheet 37 Particulars FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 Net Worth 4,937 4,554 3,947 3,442 2,108 1,503 1,336 1,084 Debt Long Term Debt 4 9 9 10 771 1,465 1,643 1,873 Short Term Debt 305 42 307 418 125 160 139 134 Other Long Term Liabilities 278 237 256 189 187 61 13 10 Current liabilities Accounts Payable 460 529 525 530 194 178 203 161 Other Current Liabilities 173 174 116 301 88 115 177 189 Total Liabilities and Equity 6,157 5,545 5,159 4,890 3,474 3,482 3,511 3,452 Non Current Assets Net Fixed Assets 3,074 2,704 2,409 2,056 2,057 2,407 2,379 2,436 Other Long Term Assets 816 434 428 455 398 142 147 208 Current Assets Inventory 932 900 811 874 504 557 616 432 Accounts Receivable 132 212 296 350 275 177 167 156 Loans and Advances & Other Current Assets 509 424 416 581 189 170 163 168 Cash and Cash Eq. (Incl. bank bal) 694 871 800 575 51 29 39 52 Total Application of Funds 6,157 5,545 5,159 4,890 3,474 3,482 3,511 3,452 All figures in INR Crore
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Investor Relations Contact: Sana Kapoor Go India Advisors sana@GoIndiaAdvisors.com M:+91 81465 50469 Sheetal Khanduja Go India Advisors sheetal@GoIndiaAdvisors.com M:+91 97693 64166 Company Contact: YC Rao Company Secretary Yarra.rao@hiragroup.com Godawari Power and Ispat Ltd. Sanjay Bothra Chief Financial Officer (CFO) sanjay.bothra@hiragroup.com Godawari Power and Ispat Ltd. Thank You GODAWARI POWER & ISPAT LTD. 38