I mean to say the main focus of the company is elsewhere.
Regarding Capex, I am referring to the below concall transcript.
Saket Kapoor, [17] -------------------------------------------------------------------------------- And on the utilization of cash, sir, what is your – incremental cash and the entries we have grown with a buyback earlier, so what kind of dividend payout can we look with improved enhanced cash flow which we have done for the 9 months, barring the – if you deduct the buyback amount? And going forward, for the fourth quarter also, you are giving a very bullish outlook. So what kind of dividend payout can we look? And sir, in the recent auction, I think, sir, there was some lukewarm response out of the number of rigs offered and the bids which were there. So what could be the reason for that, sir? And my last point will be on the demerger of the steel plant, sir. Are you facing any more headwinds? What is the update on the same, sir? -------------------------------------------------------------------------------- Sumit Deb, NMDC Limited - Chairman of the Board, MD & Director of Personnel [18] -------------------------------------------------------------------------------- Sure. I’ll take the last question first. Yes, the demerger process is on target, and we intend to finish it in another 5 to 6 months period. So that is there. So there is no issue on that count. As far as auctions goes, we have sold all the materials which have been there. So there is no question of any response. Whatever we intended to sell, we have sold. So there’s no issue on that account also. There was a utilization of – you’re talking of cash? Yes, we have the CapEx in place. And apart from that dividend, obviously, we’ll take a call in our Board as and when it comes. -------------------------------------------------------------------------------- Saket Kapoor, [19] -------------------------------------------------------------------------------- So what is the CapEx plan, sir? If you could elaborate for – coming 3 years CapEx, if you can articulate, then we can have a better understanding. -------------------------------------------------------------------------------- Sumit Deb, NMDC Limited - Chairman of the Board, MD & Director of Personnel [20] -------------------------------------------------------------------------------- See, currently, this year, we almost are doing INR 1,900 crores. So next year also, we intend to spend around INR 2,500 crores or INR 3,000 crores. So these are the numbers which you are talking about. -------------------------------------------------------------------------------- Saket Kapoor, [21] -------------------------------------------------------------------------------- And you have the split up on the same, sir? Where are you putting this money, sir? -------------------------------------------------------------------------------- Sumit Deb, NMDC Limited - Chairman of the Board, MD & Director of Personnel [22] -------------------------------------------------------------------------------- So primarily, most of the cash is going into the steel plant. Obviously, but there are steel plants in Donimalai, in Kirandul also, and plus, our Slurry Pipeline Project, the first plant project in Jagdalpur. So all this is going to – I mean we’re going to spend on this CapEx.
Based on the above verbatim, I assumed the earnings(cash) is going towards steel plant. You may be right in your assumption that residual capex is going to be financed by debt but what I mean here is, the earnings during this upcycle are already going to steel plant. So, the residual capex if any will then be financed.
Please correct me in case my understanding is wrong.