NCL's cement division has room for additional grinding capacity considering the installed clinker capacity. The board plans to set up a 2000-3000 TPD grinding capacity plant in Vizag. The total capex is estimated at | 300 crore of which | 200 crore is likely to be incurred in FY22E. With current total debt being over | 400 crore, we expect debt levels to increase further in FY22E. Further, expansion in the same region (AP, Telangana), which has excessive...