You mentioned something on the India business, especially on the commercial vehicle side also hopefully improving as government CAPEX starts. So, probably the first half has been quite tough on a weak base of last year as far as trucks are concerned. Right now, are the customers giving any sign of any production improvement in the monthly or quarterly order book? Or is it more of an expectation for next year that you are hopeful?
Questions across 4 calls
Amyn Pirani
Firm not listed in source transcripts
Bharat Forge Limited
Apollo Tyres Limited
Yes, hi. Thanks for the opportunity. I had a question which actually spans both your India as well as the Europe business. If we see in this quarter, based on your commentary, it looks like in India, replacement has grown much faster than OEM. So , there has been a mix improvement. Even in Europe, revenue growth was just about 1% Y -o-Y, but your UUHP volumes grew by 20%. So, notwithstanding the RM pressure, shouldn't your gross margin and EBITDA margin performance have been better than what you have reported? Because if the mix is improving so sharply, despite the challenges, the inherent margins of that business should ideally be better. So, I'm just trying to understand what has happened there, especially since you know, we have discussed a lot about competition having a certain performance and you having a certain performance. So just trying to -- or is it that the profitability of replacement and UUHP is not that much better than the underlying ?
Okay. So, so in Europe, you're saying that the overall volume growth was just around 1%, which means that your operating leverage despite the UUHP doing better was significantly negative? Is that a correct way to --
Maruti Suzuki India Limited
Two questions from my side. First is a bookkeeping question on margin improvement. On a Y -o-Y basis, the margins have improved, but on a quarter -on-quarter basis, they have declined. Can you highlight 2 to 3 major reasons for the margin movement?
Are you seeing a lot of first -time buyers moving upward from smaller cars like WagonR, Celerio and maybe going straight into micro-SUVs or moving within your portfolio, towards Swift or Baleno? There is a lot of model launch momentum in micro-SUVs segment, and even more launches are happening on the slightly bigger cars at the entry level. While you still have more than 10-year-old models. Can you comment on this?
InterGlobe Aviation Limited
My question is basically regarding the expenditure line items So, while yields and revenue have been like you guided. We have seen at least two -line items in the form of airport fees and supplementary rentals which have actually seen a sequent ial decline quarter-on-quarter so, can you help us understand what is the reason for these saving?
So just as a follow-up then, would it be fair to assume that given that there are some benefits of provision reversal and claim, in the second-half, these numbers could again move up in line with how 1Q was trending is that a fair assumption?