AARTIIND Q4 FY26 Guidance vs Delivery (AARTIIND Management Mirror)

Capital Expenditure

The Mar'26 Qtr guidance lowered current year CapEx to 700-800 crore, a downward revision from the Dec'25 Qtr where expectations were previously raised to 1,100 crore (from 1,000 crore in the Sep'25 Qtr). Despite this near-term reduction, the longer-term expectation for capital intensity to moderate significantly after Zone 4 completion remains unchanged across all quarters. [Status: Downgraded]