On average alumina price for October and early-November visà-vis Q2FY19: Mr. T.K. Chand, the Chairman & MD of NALCO said, the last tender of alumina prices was at USD488 and till now the average was USD509, because one shipment, which was earlier booked by a customer at a high price, he has taken that one. Today, one tender is likely to be opened in afternoon. We will have to see what kind of price is coming as to some extent alumina prices have moderated. Also, in Q2FY19 the average alumina price average stood at USD524 while in Q1FY19 it was USD555. However, in Q3FY19, the MD mentioned that he expects the average alumina prices to come down. USD 488 was the average price as per the latest tender on 25th October 2018.

On alumina and aluminium prices over the next 6-12 months: Mr. Chand said, right now, there are no abnormalities in the alumina market prices. Market is quite normal, driven by normal demand and supply. Since Chinese smelters and ex-China smelters are having inventories, the prices have naturally moderated. So, we expect alumina prices to be hovering between $430 and $480.

On outlook for realization of the company: In Q1FY19, average realization was USD555. For Q2FY19 it was USD524 and thus far in Q3FY10 the company expects that realization will come down, because up to now, realization is around USD509. We have to see what kind of price is coming in after this USD488.

On INR Depreciation and its impact: Although the INR depreciation at the moment is not significant as its ruling around 72.60-72.70 per USD. Depreciation, the coming down of prices will have impact on us. NALCO expects its EBITDA Margin in the H2FY19 to be ~23-24% because in H1FY19, it was around 34%. So, overall in the year, company’s EBITDA Margin will come around 28%.

On coal availability: NALCO’s Chairman & MD said that coal position continues to be a bit tight. Two of NALCO’s units are under shut down and the company is importing power from state grid. That also power is sometimes available and sometimes it is not at desired levels. So that difficulty is continuing, but its expects and hopes that they will be able to get desired quantities on account of the winter onset and production pick up at Coal India.