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Questions across 34 calls

Jason Soans

IDBI Capital

Cummins India Limited

Analysts/Institutional Investor Meet/Con. Call Updates Cummins India Limited has informed the Exchange about Transcript · 2026-05-29
My first question just pertains to just wanted to know that -- I mean, we are seeing fast-growing market of data centers, not only locally but also in the U.S. and other geographies especially the U.S. So, I just wanted to know if there's any possibility o f leveraging the Indian entity in any meaningful way to cater to that fast-growing data market as well, in the U.S. particularly?
Okay. Sure. And last time around also, you have been mentioning that competition especially in the HHP space, whether it be the data center or the mega infra space, which is the main stay, it's quite heating up. So just want to know, just could you add som e color to it, what's happening there and also whatever steps we are taking to basically counter the competition?
Cummins India Limited CC-Jun26.pdf · 2026-05-29
My first question just pertains to just wanted to know that -- I mean, we are seeing fast-growing market of data centers, not only locally but also in the U.S. and other geographies especially the U.S. So, I just wanted to know if there's any possibility o f leveraging the Indian entity in any meaningful way to cater to that fast-growing data market as well, in the U.S. particularly?
Okay. Sure. And last time around also, you have been mentioning that competition especially in the HHP space, whether it be the data center or the mega infra space, which is the main stay, it's quite heating up. So just want to know, just could you add som e color to it, what's happening there and also whatever steps we are taking to basically counter the competition?
Analysts/Institutional Investor Meet/Con. Call Updates Cummins India Limited has informed the Exchange about Transcript · 2025-08-08
Just wanted some color on the Industrial side of the business as well in terms of the various subsegments like mining, construction, compressor. Just if you could give some color on that as well as the breakup for that segment for the quarter?
Sure. And just in relation to the exports, just wanted to understand in light of this tariff thing. So I mean, is there any exposure of us to the U.S. markets or some products that feed into the U.S. markets? Any color on the development in terms of this tariff increase?
Cummins India Limited CC-Aug25.pdf · 2025-08-08
Just wanted some color on the Industrial side of the business as well in terms of the various subsegments like mining, construction, compressor. Just if you could give some color on that as well as the breakup for that segment for the quarter?
Sure. And just in relation to the exports, just wanted to understand in light of this tariff thing. So I mean, is there any exposure of us to the U.S. markets or some products that feed into the U.S. markets? Any color on the development in terms of this tariff increase?
Analysts/Institutional Investor Meet/Con. Call Updates Cummins India Limited has informed the Exchange about Transcript · 2025-05-29
My question was actually -- just wanted to discuss what specific and measurable steps we are taking to basically keep the competition at bay? I understand basically in a mainstay segment of HHP, considering how lucrative it is. So I understand that every s tep cannot be disclosed, but I'm just saying, just if you could provide some color on how we are keeping the competition at bay and what steps have we been towards the same?
Okay. My next question was in terms of capex, in FY '25, we have basically invested around INR230 crores. So I just wanted to know in FY '26, how much capex are we looking at? And what areas are we looking to augment?
Cummins India Limited CC-Mar25.pdf · 2025-05-29
My question was actually -- just wanted to discuss what specific and measurable steps we are taking to basically keep the competition at bay? I understand basically in a mainstay segment of HHP, considering how lucrative it is. So I understand that every s tep cannot be disclosed, but I'm just saying, just if you could provide some color on how we are keeping the competition at bay and what steps have we been towards the same?
Okay. My next question was in terms of capex, in FY '25, we have basically invested around INR230 crores. So I just wanted to know in FY '26, how much capex are we looking at? And what areas are we looking to augment?
Analysts/Institutional Investor Meet/Con. Call Updates Cummins India Limited has informed the Exchange about Transcript · 2025-02-07
Just in reference to a previous participant also, I understand that you mentioned the Industrial segment breakup. But just wanted to -- from your viewpoint, just wanted to know how is the outlook for the various subsegments in terms of end market demand, say, cons truction, marine, compressors or mining. Just wanted -- and in relation to that, just also would want to ask with the CEV norms coming out in January 2025, what is the pricing increase, if any, you are expecting or at the moment, for these newer entries?
Yes. Sure. So the CEV, the construction equipment and vehicle and BS V norms coming from January 2025 for the construction equipment and agricultural equipment, which is a non -road segment. Just wanted to know with engines, you're catering to that segment and that's already come into effect. So I just wanted to know in terms of you supplying engines to the OEMs, what is the pricing increase if anything you have seen and the margin impact for us for the Industrial segment?

Kirloskar Oil Engines Limited

Analysts/Institutional Investor Meet/Con. Call Updates Kirloskar Oil Engines Limited has informed the Exchange about Transcript · 2026-05-14
Yes, thank you so much for taking my questions. Fi rst, just had a clarification, I just joined the call a bit late. Gauri ma'am did mention that th e whole -- how much the industry grew and the volumes. Could you just repeat that?
Sure. Thank you so much, ma'am, for that. Yes, that 's very helpful. Now, I just also -- my next question just pertains to, I mean, we saw good growth on the Power Gen side, 32%, and 22% on the industrial side. Just wanted to know if you could just help us with the volume growth as well for both these segments for the entire year?
Kirloskar Oil Engines Limited CC-May26.pdf · 2026-05-14
Yes, thank you so much for taking my questions. Fi rst, just had a clarification, I just joined the call a bit late. Gauri ma'am did mention that th e whole -- how much the industry grew and the volumes. Could you just repeat that?
Sure. Thank you so much, ma'am, for that. Yes, that 's very helpful. Now, I just also -- my next question just pertains to, I mean, we saw good growth on the Power Gen side, 32%, and 22% on the industrial side. Just wanted to know if you could just help us with the volume growth as well for both these segments for the entire year?
Analysts/Institutional Investor Meet/Con. Call Updates Kirloskar Oil Engines Limited has informed the Exchange about Transcript · 2025-02-12
My first question just pertains to the Optiprim e kVA series. Just wanted to know how is the demand outlook tracking plus we are foraying into the high horsepower segment through this series. So just wanted to know and take an update on how is the demand outlook tracking from the data centres or the high power requirements in various infra verticals?
Just my next question pertains to just wanted to know, I mean, for LGM, our La-Gajjar machines. The last time around when we look at the financials, for FY '24, we have clocked in around INR540 crores and a PBT margin of 6.4% and a PAT of around -- so we clocked in around INR247 million. So, I understand that this time around in FY '25, there's been a consolidation into Sanand and all those onetime restructuring has taken place. So, would it be possible to share the numbers for 9 months ending FY '25 for LGM in terms of PAT or PBT and revenue as well?
Kirloskar Oil Engines Limited CC-Dec24.pdf · 2025-02-12
My first question just pertains to the Optiprim e kVA series. Just wanted to know how is the demand outlook tracking plus we are foraying into the high horsepower segment through this series. So just wanted to know and take an update on how is the demand outlook tracking from the data centres or the high power requirements in various infra verticals?
Just my next question pertains to just wanted to know, I mean, for LGM, our La-Gajjar machines. The last time around when we look at the financials, for FY '24, we have clocked in around INR540 crores and a PBT margin of 6.4% and a PAT of around -- so we clocked in around INR247 million. So, I understand that this time around in FY '25, there's been a consolidation into Sanand and all those onetime restructuring has taken place. So, would it be possible to share the numbers for 9 months ending FY '25 for LGM in terms of PAT or PBT and revenue as well?

Acutaas Chemicals Limited

Acutaas Chemicals Limited CC-Feb26.pdf · 2026-01-28
Really congratulations on a very strong set of numbers. Sir, first question, just wanted to understand -- I mean, of course, I understand that the CDMO piece is doing really well. But around two quarters back, you did give some color on how the CDMO piece is doing and the non-CDMO piece is doing. So CDMO, yes, doing very well. Just wanted some color on the non- CDMO business as well. How is it shaping up?
Yes. Sure, sir. Sure. And sir, just -- I mean, you usually do give the EBITDA margins for the segment. So sir, just for the API business and for the Specialty Chemicals, what are the segmental EBITDA margins, sir, for this quarter?
Acutaas Chemicals Limited CC-Jun25.pdf · 2025-07-30
Congrats on a very good set of numbers. Sir, just wanted to understand one thing. I mean, one is that you mentioned that there is a higher other income. And you also mentioned that there is a higher foreign exchange gain for you. So, is it possible to quantify that what is the gain number in this quarter?
And sir, just wanted to know, I mean, of course, the electrolyte additive capacity capex will actually get commissioned, let's say, by the end of this year, as you mentioned. So, we have 2,000 tons of VEC and FEC both. Just wanted to know -- you did mention that you are looking at an asset turn of 1.5x on the capex. Just wanted to know for '27, do we have a certain volume target in mind for this capex out of 2,000, 2,000 how much are we going to looking at a sales target or something like that?
Acutaas Chemicals Limited CC-Mar25.pdf · 2025-05-02
Thank you so much for taking my question. Congrats on a splendid performance in this quarter. Now sir, just highlighting from a previous participant's question also, CDMO pipeline definitely looks strong for us in terms of Darolutamide or other sales. And I remember that you are not giving any API-specific commentary for confidentiality reason, so I understand that. Sir, but just in a directional sense, if possible, could you give some light on how is the pipeline looking in terms of -- at least in terms of therapeutic areas, how is the pipeline looking there on that side, especially with a lot of the tariff things coming on China as well. So how is the demand looking after this whole tariff thing and this uncertainty? So just at least some light in terms of therapeutic areas, if you could give in terms of the CDMO pipeline?
Sure, sir. So Block 1 and Block 2 in Ankleshwar should be seeing ramp up -- good ramp-up in FY '26 as well?

Navin Fluorine International Limited

Navin Fluorine International Limited CC-May26.pdf · 2026-04-29
Sir, just wanted to know, I mean, you have grown really phenomenally well in the Specialty Chemicals segment as well as the HPP segment as well for this year, growth in excess of 35% and 45%. Now I just wanted to know from this higher base when you look into the next year, FY27, regarding -- I know you gave a lot of color on the agchem side as well. Just wanted to know, can we kind of clock in high double-digit revenue growth for both these segments going ahead in FY27?
Sure. And just one question. I wanted to understand with the Middle East crisis going on, any impact you saw in terms of ref gas volumes from that region -- for that region?

Clean Science and Technology Limited

Clean Science and Technology Limited CC-Feb26.pdf · 2026-01-31
Yes. Sir, first question just pertains to the -- I mean, the 2 capexes which we had mentioned. Now you've spoken about Performance Chemical 2 and 1. So going back, of course, you were investing INR1.5 billion in both of these projects. So I just wanted to know, sir, I mean, according to your internal -- I mean, calculations, how much revenue do we expect these -- both these projects to generate in '27 and '28, just as a broad outline. I know you've spoken about an asset turn of 2 for both these projects, but just '27, '28, just some specifics could be given?
Okay. So Performance Chemical 2 will be commissioned by May, June and then probably Q4, you will get some revenue from that, right?
Clean Science and Technology Limited CC-Mar25.pdf · 2025-05-22
So, thanks for taking my question. Just wanted to understand. So, before we started HALS, I mean, we used to clock in margins of around 43%, 44%. Okay. Now I understand with the new HALS and all, our margins have taken a slight dip, which is in line with o ur strategy. But now coming from 42 %, 43% of 40%, is that a fair enough, I mean, going ahead 40% should be maintained. I was just under the impression that when you start HALS, you are probably targeting margins of 15 % to 25%. So, I actually expected a sha rper margin drop on a consol level. But seems like we are doing better than expected. So, just any reasons for that same, for the same?
So, I got that. And just sir, I just missed the volume and the realization breakup for, if you could give it for the year also, if possible?

SRF Limited

SRF Limited CC-Jun25.pdf · 2025-07-24
So, sir, in terms of the re f gas pricing, of course, it has helped us this quarter , and roughly speaking, R32 quarter -on-quarter as it grew around 20%. That's what the pricing increase reflects. You have also mentioned in the presentation that domestic market was weak. So could you give us some colour in terms of how this has panned out, just roughly ballpark in terms of volume or price, how the performance has been so strong in terms of the Fluorochemicals business. And also, a related thing is, do you think the pricing will be sustainable going ahead?
So just wanted to know, given the strong pricing trajectory of ref gas so far, do we expect this trend to sustain going ahead?