Stockrabit · Analysts
Questions across 43 calls

Harshit Patel

Equirus Securities

Carborundum Universal Limited

Carborundum Universal Limited CC-Mar25.pdf · 2025-05-13
Sir, my first question is on VAW. I missed the sales and profit number that you provided in the rouble terms. Could you please repeat on that, please?
Understood. Sure. Sir, on this Q4 margins, which are very weak and you explained that our volumes were drastically down in the fourth quarter, so is this weak margin performance just because of the operating deleverage due to lower volumes? Or are there any other one-offs? So what I'm trying to understand is that where the gross margins impact over there at VAW?
Carborundum Universal Limited CC-Jun24.pdf · 2024-07-31
Sir, firstly, on the clean energy piece of the business, you have earlier indicated that we were in discussion with multi ple other players as well , mainly in the developed countries to get the approvals, getting trials done, etc. Has there been any meaningful progress on that ? Have we started getting some revenues from any of these customers?
Sir, j ust a follow up to that . Even your annual report mentions that a lot of new product development is happening in armored vehicle protection. You also just mentioned the same, and we have also done commerciali sation to a significant scale. So, could you give some flavor in terms of whether this is for domestic market or for exports, the size of this business and who are the competitors that we compete with over here?
Carborundum Universal Limited CC-Dec23.pdf · 2024-02-02
Thank you very much for the opportunity Sir. S ir my first quest ion is on our ceramic segment. Sir could you give a flavor on the exports that we do from this particular segment so what would be the share of exports within necessary refractories and similarly what would be the share of exports within the we ar ceramics, technical ceramics that we do and over the past few years have you seen any change in this mix between domestic to exports because I reckon seems a lot of newer industries which are growing in India let us say the renewable energy, lot of new wind capacit y coming on board where we supply those initial cohorts we do quite a lot of business into metal lised cylinders as well which go i nto the high voltage equipment, s o since this kind of industries are growing is there a case for domestic revenues to grow fas ter than the exports or will it continue to grow faster on exports because we are acquiring new customers over there , so if you can give some idea about the export within this segment that would be very helpful.
Understood. Sir my second question is on VAW since you have mentioned the pricing is under pressure especially in India with respect to the fused alumina business have we seen the similar kind of pressure in the silicon carbide business as well at V AW or because we are the largest producer of SiC over there and one of the low est cost producers we are still insulated from those kind of pressures and given that you have mentioned that we could grow our revenues 10 to 12% in the Rouble terms over there per annum do we have sufficient capacity to grow or we have already put in motion the expansion plans over there?
Carborundum Universal Limited CC-Sep23.pdf · 2023-10-30
My first question is on V AW. What would be the current reali sations for silicon carbide vis-à- vis the full year FY’23? As you have mentioned, there has been an increase in the overall realisations. This is a bit surprising given that even the reali sations are falling in the domestic Alumina business. Even globally, most of the commodity prices are falling, including that of Electrominerals. So, how is it that we have been able to post a growth in the reali sations over there?
My second question is on the Abrasives. Have we taken any pricing actions in the last two to three quarters either on the upward or downwards or are we maintaining the same prices? Is there a possibility of downward revision , given that the RM cost pressures have broadly come off now? If that is the situation, then what explains such a huge jump in the standalone margins? Is there any impact from the product mixing as well, given that we have posted more than 16.5% margins, which are very different from what we have been doing in the past few quarters?

CG Power and Industrial Solutions Limited

CG Power and Industrial Solutions Limited CC-Mar25.pdf · 2025-05-06
So my first question is on capex. Just wanted to check the status of our capex projects for power as well as distribution transformers. Have we finalized the land for the new 45,000 MVA capacity? Also, we were expanding this power transformer capacity at Bhopal location as well from 17,000 to 40,000 MVA. So is this e xpansion complete? Similarly, the status of the distribution transformer capacity expansion at Gwalior?
Understood. Sir, just a follow -up to that. We were also planning to commission additional HT motors capacity at Bhopal only by the end of FY '25. So any status update on that?
CG Power and Industrial Solutions Limited CC-Dec24.pdf · 2025-01-28
Sir, firstly, could you share an update on the development and commercialization of EV Motors, for which applications we have already developed both motors as well as controllers? And what is the medium-term action plan over here?
Understood. Secondly, as a part of your go-to-market strategy for the motors business, you had previously highlighted that you were partnering with large customers for a combined solution of motors and drives? So could you share some progress on that the quantum of sales coming from such combined offerings, also its impact on margins, the localization levels that we have achieved in dr ives as well in India. I understand we have the product in Sweden. So have we brought that product to India and localized as per the domestic requirements or that is still under progress?
CG Power and Industrial Solutions Limited CC-Sep24.pdf · 2024-10-21
Just a small bookkeeping question first. How has been the orders and sales for the railways business in the first half of FY'25? So if you could give some quantum on that, that will be very helpful. Also, are we on track to propose a 40% revenue growth in FY'25 in the railways business as it was communicated earlier?
Sure. Just a smaller follow-up on the Motors business. How has the pricing moved from the first quarter of FY'25 to the second quarter? Has the prices increased substantially, especially for the LT Motors? That is the last question from my side.

Schaeffler India Limited

Schaeffler India Limited CC-Mar25.pdf · 2025-04-30
So, my first question is, in the past, you had indicated that, the company was shifting some of the bearing production lines to India, especially from the European countries. Even in the annual report, we saw a lot of related party transactions in terms of purchase of tangible assets. So, is this whole process over? Anything left for us to do in terms of further enhancing export-oriented production capacities over here?
Understood, ma'am. And then just a follow-up to that. A few quarters back, parent company had announced that it intended to move some part of the clutch production from Sheffield plant in U.K. to our Hosur plant. So, could you comment on this relocation exercise?
Schaeffler India Limited CC-Jun24.pdf · 2024-07-24
My first question is on the railway business. Is our railways portfolio now fully localized? Or do we still import few products from parent or the sister concerns glob ally? Also, what was the share of railways within our overall revenues in the second quarter as well as the first half of CY '24?
Understood. Sure. Sir, my second question is, is there any update on the merger of Vitesco India with Schaeffler Ind ia? I think last time, you had mentioned that you will have to do some groundwork as well as due diligence. So, is there any progress on that front?
Schaeffler India Limited CC-Mar24.pdf · 2024-04-26
My first question is on the wind sector. So, you did mention last time CY'23 had seen because the exports from India was pretty much sluggish. So, can you think that in CY’24 we can reach back to those CY'22 levels? And what is the share of wind as a portion of overall our revenues at the moment? Hardevi Vazirani Before Harsha talks on the business aspect of when, let me clarify that when we talk about our exports, it does not have the wind portion, we s ell to the wind produce rs in India who in turn export to Europe and other countries. So, when we sell them, it is still domestic sales. Our export is not directly towards wind, we sell domestically to the wind producers, and they export it.
My second question is on the pricing. Could you give us a little bit of lever on bearings pricing both in the automotive as well as industrial bearings -- have we taken any price cuts in the past one year or so because the commodity inflation has pretty much stabilized vis-à-vis what it was let's say one and a half to two years ago?

Bharat Electronics Limited

Bharat Electronics Limited CC-Dec24.pdf · 2025-01-30
So my first question is on the electronic warfare systems for our airborne platforms. So a t present, which are the platforms for which we supply these E W systems, such as D - 29? Also on top of that, which are the future platforms, maybe LUH, LCH, IMRH, LCA Mk - 2 , et c . , for which we are the development and production partner?
Sir, my second question is I wanted to relate our future margin trajectory with th e localization levels. So what share of this localization benefits will be retained by us? And what we have to p ass on to the Ministry of Defenc e in terms of maybe lower nominated contract prices. I'm asking this because our current level of margins are su bstantially higher than wha t we used to report in the past?

Triveni Turbine Limited

Triveni Turbine Limited CC-Sep24.pdf · 2024-11-12
Thank you very much for the opportunity. My first question is, how are our domestic and overseas enquiry books? How much they have grown on y-o-y basis at the end of second quarter?
Understood. Sir, secondly, I wanted to get some colo ur on to specific end markets in India. First, on distilleries. I believe we expected a pickup towards the end of FY 25, do you still see that happening or there is some slack in the new investments, which are happening in this particular sector? Secondly, you also alluded to a little bit towards answering the previous question. Are there any green shoots in the waste-to-energy theme in India? Have we booked any such orders so far in FY 25?

Jyoti CNC Automation Limited

Hindustan Aeronautics Limited

Hindustan Aeronautics Limited CC-Mar24.pdf · 2024-05-17
My first question is on the Lig ht Utility Helicopters. Could y ou share an update on the limited series units that were manufacturing against the Letter of Inte nt? Have we already started booking the revenues on this? Also, when do you see the bulk order materializing and how would the execution schedule look like?
Secondly on the Sukhoi-30 engines, you mentioned that we will v ery soon receive the final order. So, will the production start as soon as we will receive the order or there will be some gestation as to T+12, T+18 something like that?

ABB India Limited

ABB India Limited CC-Sep23.pdf · 2023-11-09
Sir, if I look at our margin profile of last few quarters, I think much of the expansion has come from the operating leverage rather than the gross margins. I mean gross margins have definitely helped, no doubt about that. So is it the case that we are now getting decent level of economies of scale in many product lines, which was not the case earlier now with the increasing revenues and therefore, a very good cost absorption is happening, which was not the case, let's say, 2, 2.5 years ago. So would you agree that this factor would have helped margins more, vis-a-vis, localization that we are doing at the moment?
Understood. Sir, just a small follow-up to that. On the kind of factors that you have elaborated. So everything seems to be growing right for us. So would you agree that whatever can go right is going right for us and that is causing the kind of margins that we are seeing at the moment?

Hitachi Energy India Limited