By earn 
(I) Levied on Prospective Basis
Marginal impact on profitability
Future CoP may increase +1-3% for various companies
Tata Steel & SAIL will get impacted as they have mining in Odisha & Jharkhand
👉 Blended effect is expected to be Rs 400-450/t representing 1-2% of RM cost in FY24
For aluminum players impact will be low as current royalty of Bauxite is 0.6% of LME
A Rs 100/t increase in coal cost may impact overall CoP by upto Rs.1,000/tn which is very low vs cost of production which is 1750-1950$/tn
(II) Retrospective 👉 Demand if raised will have limited impact on future cash flows since they have been given 12 years to pay
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