Just one quick question. Congratulations on great year. In FY24, what's our retail house wires top line and market share?
Sure, sir. Maybe the share of Cables & Wires, within that, what's the branded wire? At least you can tell that in FY24?
Questions across 55 calls
Amit Mahawar
UBS
Polycab India Limited
I just have two broad questions. First is on the cable and wire business. Considering the demand environment we have, both from domestic and export markets, and the variety you have in terms of offering, especially in cables, and the business profile going ahead, do you want to review and reassess and tell us the profitability d irection for cable and wire business? I understand the growth is still going to be very strong, but any comment on profitability? That's my first question, Gandharv.
Okay, Chirayu. I'm Assuming and implying there's no change in the cost structure of Polycab. Second question is maybe if we could be helped on FMEG. First of all, I really appreciate and thank you and the management for acknowledging the FMEG business grow th path, where Polycab needs to do better. But from a two to three years view, do you think Polycab needs to be more aggressive and more passionate and more committed about FMEG business, because that is the only segment where we have not had any significant inorganic path. Most of our competition has followed that and for maybe new product or new market geography. That's on FMEG. And what kind of rejig can we expect in the next two, three years in FMEG? And maybe Inder bhai and Gandharv can also chip-in.
Cummins India Limited
Hello. Can you hear me?
Yeah, thank you. Sorry about this. So Ashwath, congratulations and great early more advantages the Cummins is enjoying. I have two specific questions. First is, is your market share on the CPCBIV+ range thus far more than 80%, 90% today? And where do you think this will settle down as the three to four large players also roll out and effectively able to sell maybe two years down the line. That's my first question.
Hello. Can you hear me?
Yeah, thank you. Sorry about this. So Ashwath, congratulations and great early more advantages the Cummins is enjoying. I have two specific questions. First is, is your market share on the CPCBIV+ range thus far more than 80%, 90% today? And where do you think this will settle down as the three to four large players also roll out and effectively able to sell maybe two years down the line. That's my first question.
My first question is so in H1 we have done around 30 billion of domestic sales of around 19%, how much out of that is CPCB-IV revenues, I am sure if I missed that. And is that broadly 100% market share in H1 for you at this stage?
And in your assessment so maybe today we are the only supplier of the new node, within the permissible range. Do you think maybe six months to 12 months is the time where we will have competition joining in terms of entering the market or it will take much more longer, I appreciate we can’t take names, but qualitatively you can help us understand.
My first question is so in H1 we have done around 30 billion of domestic sales of around 19%, how much out of that is CPCB-IV revenues, I am sure if I missed that. And is that broadly 100% market share in H1 for you at this stage?
And in your assessment so maybe today we are the only supplier of the new node, within the permissible range. Do you think maybe six months to 12 months is the time where we will have competition joining in terms of entering the market or it will take much more longer, I appreciate we can’t take names, but qualitatively you can help us understand.
Ashwath, I just have 2 questions. First is, so in FY '24, what percentage of our power gen revenue will be effectively CPCBIV+ products, sinc e you already have the clarity and booked orders, that's first?
Fair. And in your sourcing for CPCBIV+ products like FCI, etcetera, from Cummins entities, what percentage of that sourcing of the buildup material will be from Cummins versus CPCBII compliant entities?
Triveni Turbine Limited
Hi, Nikhil. I just have two questions. First is , so in the last so many years, the way you've grown both in pr oduct and aftersales and especially in the global aftersales market. It's an opportune time that we understand from you the five- year roadmap on where do you see Triveni on the global aftersales market share and product share. If you can give that broad contour? That's my first question.
Sure, Nikhil. I mean I will just summari se it maybe what you said, if I understand that you still significantly gained market share in FY 24 aftersales materially. And there are things that competition cannot copy from you that you are displaying. So, the second question quickly, is actually linked to first, I'm sorry for that, but maybe Prasad and Mr. Mote, if possible, can also c hip in and help you there. What is the kind of setup you are looking to create? You've invested in people 5-6 years ago, we can see fairly meaningful benefits of that already, right? And you're now again going beyond the number mandate, and it seem s that you are still going to significantly spend on people and go more closer to the market that you've been saying. So maybe next 4-5 years, how will the setup of Triveni both on product and aftersales transition to ? Qualitative assessment is welcome.
Larsen & Toubro Limited
I just have one question and apologies if it sounds repetitive. But it seems that in a post-COVID era, we have started taking note of risk of time delays which impact the cost vis-à-vis the inflationary impact on business. So, that is leading us to take a lot of contracts in the Middle East. As a lead contractor, a lot of new kind of contracts also vis-a-vis, you know, conventional thinking of share of Middle East versus share of India or lower margins in Middle East versus higher margins in India. Are we heading towards a directional strategy of choosing inflationary risk of executing large Middle East or Indian project vis-a-vis time delays, which has been more harmful to us in last one to two years? I just wanted to understand if the understanding is correct.
Maybe I can conclude this statement saying, you know, bid margins to the realized margins , L&T had started becoming more focused on the realized margins. Thank you, P.R., Second and a quick question is within the core business, how will the construct change with respect to the revenue composition vis -a-vis say historically we used to have EPC versus manufacturing business, which used to give us a good blend of core profitability? Three to five years from now, not today, do you think we are moving towards a band where the core margins will head north just beyond the core cyclical margins improving EPC to a much better margin with a blend of manufacturing high value add versus EPC margin and any mix of revenue you would want to give over five years?
Congratulations on great momentum in orders and execution. Sir, my first question is on the Saudi Arabia strategy. L&T has been investing in the last couple of quarters in that region, either to increase the addressable market of what we do there, conventional Hydrocarbon or Infra and also to meet the local content requirements in the Kingdom. And it seems we are not going there as a one-off presence of taking a couple of orders. It's going to be a permanent high exposure with a lot of local abilities for L&T. What is the framework that we are following in that region because the competition there is no more Indian, it's a global competition we have with half a dozen global giants. So can you just throw some light on some of the framework that we are following to manage the risk profile because the ultra-mega categories introduced maybe because of the region itself with the way the projects are coming.
And the second question is more slightly longer term, taking a three year, four year view, what kind of direction would you take for the core revenues fro m the convention EPC versus some relatively higher value -add revenue segments that we will eventually start building up across high-tech, or across energy transition segment? So my pointed next two years, three years, the profile of business that is significantly better gross margin, will that move in the next two years to three years? And what can that be? Or we are still too early in that game, sir?
Havells India Limited
Good morning. Sir, I just have one question. In 9 months ex Lloyd growth in volume is definitely more than the value growth you have shown 8% plus, Lloyd in nine months 16% value and of course volume is definitely higher, so I do not have a question on growth , my question is more on the L loyd supply chain as you build your brand gradually that is a journey. On the supply chain part , is my understanding correct that in the next maybe say three to five quarters, you optimize your current expanded capacity manufacturing, you will have a significant sourcing of compressors and motors broadly around 50% higher than the last year roughly, will that period where you will be able to get the cost right because only when you get the cost right can you get the price right ? So I just wanted to have some qualitative colors, that is the only question.
No sir. I just wanted the answer that is it.
This question is to Anilji. Sir, the first question is you've been talking about talent acquisition and you've done a lot of that in the last couple of years as the business expands in multiple SBUs. How relevant is it go Havells to have a professional CEO? And how soon should we see that? That's my first question. Thank you.
Okay. No, I was just trying to understand. I think in the past discussions, we've spoken about the ultimate journey of how the talents have been coming to Havells. And so I was just trying to understand if that's the thought in the near to medium term?
ABB India Limited
Sanjeev and Sridhar, congratulations on consistent new benchmarks on profitability. So my first question is in this quarter, we've seen some slippage in energy, auto and PA. On an adjusted basis, what would have been the growth had we seen that? And also, you have provisions on receivables. So what is the adjusted profitability? That's the first question.
Yes, Sridhar. What is the recurring adjusted margins if you would, just accounting for the provisions you've made in this quarter?
Hitachi Energy India Limited
Just two quick questions. First is, so we've seen the best case industry size for you, maybe a decade ago was more than INR 20,000 crores. Today, it seems to be around INR 15,000 crores, INR 16,000 crores, if I am not wrong.
INR 15,000 crores, INR 16,000 crores equipment market -- in transmission equipment market.
Blue Star Limited
Yes. Thank you. First of all, congratulations, sir, on the impressive strategy. I have a first questio n. In the cooling segment, sir, what is the share of room AC revenues in the first half?
Room ACs in the UCP?