Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?

I have over 16 years of experience in the steel sector, with a strong focus on the alloy and special steel industry. My primary exposure has been to automotive, engineering, and OEM-driven segments. I have mainly served automotive OEMs, Tier-1 suppliers, and forging customers.

My role has included customer development, key account management, understanding and implementing OEM specifications, and close coordination with quality and production teams. I have hands-on experience in OEM and grade approvals, long-term supply planning, and aligning commercial strategies, including finalization of commercial terms.

On the commercial side, I have been actively involved in pricing strategy, settlement of commercial terms, and closely monitoring customers’ business models to ensure long-term associations with the objective of generating sustainable and profitable revenue. Overall, my strengths lie in connecting technical requirements to commercial decision-making and in building long-term customer relationships.

Q2. Which alloy steel long product segments (auto vs infra) grow fastest through 2026, and why did construction-heavy bets underperform? 

The automotive alloy steel segment is on track to outpace infrastructure-related alloy steel through 2026. This is largely because automotive customers place a premium on consistent, high-quality products, reliable repeat orders, and specialized, value-added grades. These factors help drive more stable growth and healthier margins for suppliers.

In contrast, infrastructure and construction demand are largely price-driven and heavily dependent on government spending cycles. Many construction-focused bets underperformed because they were volume-led but margin-light, with intense competition and limited differentiation, offering reduced long-term value.

Q3. What OEM procurement specs prioritize EV chassis alloys by 2027, and why did non-OEM grades erode margins?

By 2027, OEMs will focus on alloys that offer high strength, good fatigue life, safety performance, improved weldability, and tighter dimensional tolerances for EV chassis and structural components. OEMs are also moving toward fewer, standardized grades across global platforms.

Sustainability is quickly moving to the forefront for global auto OEMs. With growing awareness and evolving regulations like CBAM in Europe, there’s a clear shift toward greener steel, and demand for environmentally friendly options is only set to rise.

Non-OEM grades eroded margins because they are easy to replicate, face high price competition, and lack long-term supply commitments. Without OEM approvals, suppliers struggle to protect pricing.

Q4. What West India logistics cut long product lead times, and why are inflated eastern model costs? 

Western India really stands out when it comes to logistics, thanks to its proximity to major automotive hubs and industrial belts in Maharashtra, Gujarat, and Madhya Pradesh. Easy access to ports and large forging clusters adds to its appeal. For companies, this means goods get where they need to go faster, shipping costs are lower, inventory doesn’t sit around as long, and supply risks are kept in check.

In comparison, eastern locations face higher inland and outbound freight costs and longer delivery times to automotive customers. These factors increase total landed costs and reduce competitiveness in time-dependent OEM supply chains.

Q5. What auto alloy surges signal M&A inflection, and why missed import substitution destroyed value?

Rising demand for specialized auto alloys, especially for safety and EV applications, signals consolidation and M&A opportunities. Customers prefer fewer capable suppliers. Companies that failed to localize grades earlier lost value because they remained dependent on imports, faced higher costs, and missed OEM approvals. Early investment in import substitution creates a long-term advantage.

Q6. What scanning identifies high EBITDA converters, and why volume-first commoditized margins?

The most successful, high EBITDA companies don’t just chase volume—they focus on earning more per ton through approved OEM grades and building strong, reliable customer relationships. They’re careful with quality, stick to disciplined pricing, and work with customers who truly appreciate consistency and dependability.

Volume-first strategies tend to commoditize margins because higher tonnage without differentiation leads to price pressure, higher working capital requirements, and weaker overall returns.

Q7. If you were an investor looking at companies within the space, what critical question would you pose to their senior management?

What makes your business difficult to replace for your key customers?

This helps understand whether profits are driven by real capabilities, customer dependence, approvals & and technical strength or only by market conditions and price cycles.