BALKRISIND Q1 FY27 Guidance vs Delivery (BALKRISIND Management Mirror)

FY26 Capex Guided at INR 2,500-2,600 Crore; 9M FY26 Reported at INR 2,200 Crore; FY27 Guidance Initiated at INR 1,500-2,000 Crore

In Sep'25 Qtr, management guided full-year FY26 capex in the range of INR2,000 crores to INR2,200 crores. In Dec'25 Qtr, this guidance was upgraded to INR2,500 crores to INR2,600 crores. As reported in Dec'25 Qtr results, capex spend for the first 9 months of FY26 reached approximately INR2,200 crores. Subsequently, in Jun'26 Qtr, management initiated FY27 capex guidance, planning to spend between INR1,500 crores and INR2,000 crores out of the remaining INR3,000 crores master plan budget. Net debt progressed from INR456 crores in Sep'25 Qtr to about INR637 crores in Dec'25 Qtr, and approximately INR1,725 crores in Jun'26 Qtr.