Stockrabit · Analysts
Questions across 37 calls

Aniruddha Joshi

ICICI Securities

Havells India Limited

Havells India Limited CC-Dec24.pdf · 2025-01-17
Yes. Sir, just on the quick commerce as well as MFI channels. So, if you can elaborate a bit more about the investments that we would have done? An d again, what is the current contribution of these two channels to the revenues? And in a way, where do you see it changing post these investments? Also, MFI channel is also going through a lot of issues. So how do we handle that? And then second question is on the CSD. We have heard that there are a lot of inventory correction happening in the CSD channels also. So that is also in a way hurting the primary sales, while secondary sales continue to remai n high. So, any update on these two questions or channel?
Yes, sir.
Havells India Limited CC-Sep24.pdf · 2024-10-17
Yes. Sir, in terms of Lloyd, we had indicated that we will also get into certain exports to Middle East as well as USA markets. Now that was done almost 7 -8 months ago, the announcements. So any update on that? And when should we see the p roducts rollout happening in both these regions? That is question number one. And secondly, if you can indicate the price hikes during the quarter as well as the growth in 2 verticals, B2B as well as B2C.
Sir, B2B & B2C growth rates and price hike?
Havells India Limited CC-Jun24.pdf · 2024-07-18
So two questions. Now considering the commodity inflation, we have seen some instances of price hikes by various durable companies. So how do we see Havells in terms of price hikes? Have we initiated any price hike in Q1? And now what is the current stance on the price hikes? That is question number one. And question two, now we can see now Crabtree brand is getting rebranded as Havells Crabtree. So, should we read similar things happening with Standard, REO as well as Lloyd also? And is there any plan to make Havells as a mother brand and in terms of reducing overall spend in terms of advertising etc? So how should we read on these lines? These are the two questions.
Okay. Sure, sir. Very helpful. Understood. Just in terms of quantum of the price hikes, if you can elaborate a bit and anything...?
Havells India Limited CC-Dec23.pdf · 2024-01-24
Thanks for the opportunity. Sir, two question. One, the lighting and even switches segments are moving from basically functional categories to lifestyle or fashion kind of products and this transition may continue over next decade also , so now Havells is more of a functional or a high trust kind of a brand , so how do you see the brand transiti oning in both the segments and also considering there are whole lot of smaller players who do not really have any ability to move towards or shift the brand perception also to some extent so how should we read about Havells efforts in these two categories that is question number . Question two is what is our real right to win in Middle East and USA these are really absolutely premium end of the market with very h igh per capita GDP so Lloyd which is more of a mid -price brand so how do we understand the winning strategy for Lloyd in these markets? Thanks.
That is on the first thing, so should we continue to model market share gains as the category keeps transitioning more towards the top end?

DOMS Industries Limited

DOMS Industries Limited CC-Sep25.pdf · 2024-11-11
So my question is, what is the 3-year in a way business plan or 5-year business plan in terms of the export business? Because we are doing exceedingly well in domestic part of the business, so whether the management will be investing more time in driving the domestic business more or how we should think about in terms of the export business because it is not just one geography, multiple geographies. So some amount of management bandwidth in a way in differ ent geographies will also be required. So how should we think in terms of 3-5 year window on that?
Second question is on the brands other than DOMS, s o for example, we have some brands like C3 or even Fixy Fix or to some extent Neon is a sub brand, Amariz is also one brand. So how is the performance of these sub brands? And will we see more investment in the sub branding or driving these brands relatively bigger from current levels so as to diversify from DOMS brand also?

Polycab India Limited

Polycab India Limited CC-Sep24.pdf · 2024-10-18
Yes. Now in terms of the margins, we have seen our margins, which used to be in the range of 8% to 9%. Now they have reached as high as almost 14% now. So, do you believe that probably the margins have kind of peaked out at around 14-odd percent level? And on a structural basis, do you see further triggers to see expansion in the margins? And anywhere means maximum the potential in terms of margins, what that can be? That is question one. Secondly, now the competitive intensity is likely to remain higher because one company is starting the new plant and one company is doing QIP. So probably, they may also expand the facility. So, net-net, if the competitive intensity remains higher in H2 and FY26, so what will be Polycab's strategy, whether it will be market share first or it will be margins first? Yes. That's it from my side.
Polycab India Limited CC-Sep23.pdf · 2023-10-19
Yes. Sir, thanks for the opportunity. Si r, two questions. While we are doing great work, obviously, we are getting helped by the, up move in the infra, real estate, capex, all those cycles. So just from your experience, in 2007 and 2008, we experienced similar situation. But post that, there was a sudden decline in overall capex , real estate activity, etc. So, from your experience, what was Polycab’s strategy that time versus the strategy right now? Or do you see it's different this time and probably the capex cycle is going to last for a considerably more period of time, and so that there is more benefit possible for us? That is question number one. And question number two is the spend related to Polycab relaunch. So , whether all the spends are already in Q2 or H1 numbers. Or do you see some more expenses getting incurred in H2 as well? Yes, that's it from my side.

JSW Dulux Limited

JSW Dulux Limited CC-Jun24.pdf · 2024-08-02
Yes, sir, 2 questions from my side. So we have seen market share gains happening for almost more than 1.5, almost 2 years in a row now. So yes, we can understand definitely distribution differentiated launches. And in a way, aggression in the trade, all th ese things -- more investments in brand building spends, all of these things are working for us. So what are the additional things that we are trying to do to increase the tempo of market share gains? And in a way, what are the market shares in industrial paints. I understand it is B2B, but if any ballpark figure that if you can share, where are we in different some segments in terms of market share? And what are the strategies to focus on gaining market share in that part of the business as well?
Sure. Sure, sir. That's very helpful...

Whirlpool of India Limited

Whirlpool of India Limited CC-Jun24.pdf · 2024-08-01
Sir, two questions from my side, in the previous conference call you had indicated the revenue guidance in high single digits. But now we have seen a very strong performance in quarter one. So, will there be any change in the guidance and if you can indicate the revised guidance that you are looking at, that is question number one. And then question number two is, while the company has gain market share is there any strategy with which the company is working in terms of gaining market share, for example 1% market share gain each year or market share gains in premium end of the market or anything that you would like to elaborate and what will be the key triggers to drive the market share growth, is it the distribution in your regions or gaining market share in the existing regions itself or launch of new products or in a way price cuts or aggressive ad spend. So, just wanted more clarification and data on this from you. That's it from my side, thank you. And congrats for great set of numbers.
Yes, many thanks for that. Just the last question and then I will come back in the queue. We are seeing, e-commerce is becoming a way major force in the entire consumption basket, especially in white goods and durables also, now with ONDC platform also becoming a bit bigger. So, in next 10 years this will be likely to be a major driving force in the entire distribution. So, what are the strategies of Whirlpool, in this entire thing and what are the market shares in e-commerce platform, compared to let's say, GT or MT, I don't want the exact number, but are they higher or materially higher or lower or materially lower, anything directionally would be very helpful. That's it and thanks from my side.

Dixon Technologies (India) Limited

R R Kabel Limited

R R Kabel Limited CC-Mar24.pdf · 2024-05-29
Two to 3 questions. We have seen definite increase in copper prices, it's a pretty high increase. So, how do you see the price hike that we and the industry would have taken in past 2 to 3 months, also if the metal cycle continues to remain on uptrend for sizable number of months, what has been the historical experience during a metal upturn whether the revenues as well as the profitability both goes up for the Company and the industry or how should we think about that on those line? And third, since copper is a really large raw material for us, what is the internal thought process like inflation in copper prices in next 3 months to 6 months to next 2 years? That's the question from my side.
Sure, sir. Sir, again just clarifying whenever the commodity prices go up, do we look at maintaining percentage margins or do we look at maintaining profit per Kg or profit per ton per se. If we look at maintaining profit per ton, then eventually margin may reduce, overall profitability may increase in absolute terms, but the margins may reduce. So, do we take that approach or generally we try to maintain the margins?

Crompton Greaves Consumer Electricals Limited

Crompton Greaves Consumer Electricals Limited CC-Mar24.pdf · 2024-05-16
Sir, two questions. One, we have spent considerably in ad spend and R&D, so in this case, the best way to measure any ROI is increase in market share on higher ad spend and R&D. So, if you can indicate what are the market share gains, we would have got or observed across the segments be it in premium products or the let's say overall categorie s itself? That is question 1. In terms of question 2, at the time of strategy 2.0 presentation, we had seen a possibility of entry in multiple categories that is cables, wires, switches, switch gears, even white goods also. So, any further progress on that front? One last question is in terms of Butterfly was expected to be earning accretive in year one, but now almost year two is over. So, when do we see the earning accretion from this acquisition? That is it from my side. Thanks.
Got it Sir. Very helpful.

Blue Star Limited

Blue Star Limited CC-Dec23.pdf · 2024-01-31
We had indicated a plan to reach 10,000 outlets for UCP segment. Now, we are at the end of January 2024. So, can you indicate the progress done so far, and also the plan if you want to indicate for FY25? Second question is EMP segment did extremely well. If we look at the history in FY06 to FY09 period, but post that, almost six to seven years, FY09 to FY15, we had reported low single digits. So, do you see similar structure building now that we are nearing the top and in one or two segments you also highlighted proactively that there might be some slowdown in order closures. So need your expert views on what happened in that period and how different we are in the current ongoing cycle?
So the outlet reach we had indicated?

Syrma SGS Technology Limited

Syrma SGS Technology Limited CC-Sep23.pdf · 2023-11-02
Yes, thanks for the opportunity. Sir, excluding the Johari acquisition, I guess it is included for one month or three months in the quarter? And excluding Johari, what would be the stand-alone growth rate numbers for revenue, EBITDA, PAT? That's one info. Secondly the margins have been very volatile, so any explicit guidance you would like to give for EBITDA margins for H2 FY ‘24? That is second question. And third question is, we have been hearing a lot of news flows on the manufacturing of laptops and other IT products in India. While there are, again, from government also, the dates are changing a lot. But have you seen any inquiries and any view on that market for how much revenue po tential is there, how much revenue opportunity is there for Syrma on that account? Yes.
Yes, sure, sir. Very helpful. Just lastly, now we are simplifying the group structure with some of the subsidiaries getting merged with Syrma. So any synergy benefits that you would like to call out? Yes, that's it from my side. Thank you.

Amber Enterprises India Limited

Amber Enterprises India Limited CC-Sep23.pdf · 2023-10-23
Sir, thanks for the opportunity. Now we are seeing most of the brands are sitting at their own facilities so do you see any impact on the industry and on us considering there will be likely excess capacity in entire air conditioner as well as components manufacturing , also what is current industry capacity versus what is it likely to be let’s say after one, one-and-a- half years when most of the n ew plants will come on stream a nd what is Amber’s strategy to tackle the steep increase in industry capacity as well as the likely competitiv e pressures that may emerge post this capacity? That is it from my side.
Sure Sir. Very helpful. Thank you.

Voltas Limited

Voltas Limited CC-Sep23.pdf · 2023-10-20
Sir, in one of the earlier calls, you had indicated the steep increase in capitalization post PLI is going to impact the overall ROC of most of the players. So, just wanted to delve deeper on that and understand so how long do you see the impact on ROCE, whether it will be short lived, or do you see the impact on ROC sustaining beyond three years or so? And also, what would be the quantum probably that you would have internally worked out, if you can share maybe what will be the impact on ROCE, maybe 200 bps, 300 bps or how much the impact will be? So, that is question number one. And question number two is, now we are going to reach up to 2 million units in case of RAC capacity. So, is it completely backward integrated or what will be the product that we will be manufacturing component wise? So, excluding let's say motors and compressors, what are the total capacity for each of the products, like say cross flow fan or plastic molding, sheet metal, copper tubing etcetera? So, is it also 100% backward integrated or what is the extent of backward integration?
So, sir, means any number you would like to put, let's say, 200 bps or you don't see that or it's too difficult to see?