Shveta, congratulations on great fiscal '25, especially in managing the competition very well. Ma'am, FY '26, because in FY '25, we enjoyed a lot of benefits, we had pre -buy, a very strong high kVA growth, like a lot of cost adjustment that we could manage to counter the price impact of new nodes that competition is launching. Distribution grew 14% -plus. We had data center, which did very well. A, FY '25, what is the market share that we have of CPCB IV+ for the full year for Cummins? And second question is, how do you see these levers changing in '26? Can the industry TAM, right, which is growing in maybe double digit for you, can the EBITDA -- industry EBITDA will grow in double digits? These are the two questions, ma'am?
Questions across 4 calls
Amit Mahavar
UBS
Cummins India Limited
Shveta, congratulations on great fiscal '25, especially in managing the competition very well. Ma'am, FY '26, because in FY '25, we enjoyed a lot of benefits, we had pre -buy, a very strong high kVA growth, like a lot of cost adjustment that we could manage to counter the price impact of new nodes that competition is launching. Distribution grew 14% -plus. We had data center, which did very well. A, FY '25, what is the market share that we have of CPCB IV+ for the full year for Cummins? And second question is, how do you see these levers changing in '26? Can the industry TAM, right, which is growing in maybe double digit for you, can the EBITDA -- industry EBITDA will grow in double digits? These are the two questions, ma'am?
ABB India Limited
Hi, Sridhar and Sanjeev. Good morning and congratulations on stable profitability. I just have one question, sir. You know, the outlook for CY '25, particularly on base orders, can you throw some light on some high growth segments , particularly propulsion, semi-acid propulsions, and renewable low voltage and motion orders ? Do you think there is a risk of this year being 10% or less growth in orders? That's my question.
Yes, sir.
Whirlpool of India Limited
Thank You, Eswar Sir, first of all congratulations on achieving a lot of operational turnaround if I can call it since you joined, very difficult time and reflecting also in the cash flows, not only in the P&L. My first question is more on, if you see what you have done in last couple of quarters, a lot of representation which was missing for Whirlpool in the trade channels, you have more people on floor, shop floor market Whirlpool products, you have actually expanded the SKUs both in ref and washing machine across four, five categories. Can you just help us understand what is the, which are the segments where you gain more market share in ref, it seems it's more in DC versus FF, can you just help us qualitatively understand the change in market share across categories in both the key categories of ref and washing machine?
Thanks. The second question is, you know, a lot of low hanging fruit is what you seemingly have achieved or in the course of broadly achieving it. But you also have some of the tough competition now in Beko, which was non-existent when the last big management change had happened and I am not worried about competition for Whirlpool, maybe Whirlpool and Beko as a strong players will lift the category and cut down the tail. Do you think for you in the next three years, say by 26-27, the SKUs that you track and then you plan in the market for these two categories, will you be able to cut down the gap vis-à-vis say if you compare with LG, Samsung, particularly if I can name them, do you think that's a very strong and important target for you and in that category. When you do that, it needs a lot of innovation, which anyways you are trying to drive. So, any color about how the SKUs across the categories will move in the next two, three years. I understand the limitation with which you can answer this but anything incremental is helpful plus, the factory setup you have now, we have much and much less imports now. So, something around that, thanks Eswar.