Hi, sir. Couple of questions from my side, one is when you talk about consumer electronics CAPEX of Rs. 2,000 crores, it was for all the three phases put together, right?
Got it. And any sense on how much you have invested in first phase?
Questions across 53 calls
Jinesh Gandhi
Ambit Capital
Samvardhana Motherson International Limited
Endurance Technologies Limited
On the 4W suspension agreement which we have done. So, there would be an anchor customer in form of Korean OEMs. Just any inputs on whether that anchor customer is currently having single source of supplies for suspensions and we'll be a second source supplier?
Secondly, you also talked about the 4 W braking business. So, any inputs on who is the technology partner ? And how should one think about the ramp-up in that segment as well , because that again is a very large opportunity?
First question is on the PV drivetrain business that you are talking about. Is this going to be through the aluminum die casting technology or we are looking beyond that and totally different products or technologies which will be coming into that? We talked about electronics as well, but can you throw more light on that?
And this is developed in-house, or do we have a partnership with someone?
Bharat Forge Limited
Yes, hi. I have a couple of questions from my side. One is, your comment on margin expansion of 250 to 300 basis points in next two to three years, that was for JS auto or at a consol level?
For the casting business, okay. And this would be primarily driven by operating leverage? Or do you expect that Russian business to come back, which had impacted margin?
Ola Electric Mobility Limited
My question pertains to our product quality. So, we have addressed our service quality quite considerably in the last few months. However, given we have several new product launches lined up between current month and 2Q and beyond, what are we doing to ensure that there are no teething troubles with our upcoming product launches and strengthen our brand equity?
Okay, got it. So, the testing side has also been far higher than the Gen 2 and Gen 1?
Hero MotoCorp Limited
Hi. My question pertains to the recent changes in the budget with respect to income tax savings. How does that influence our customers and any sense on what would be income profile of our customers, what would be the median income of our customers as such?
Got it. So, a broader range of ₹ 6-12 lakhs. Okay. Got it. And secondly, if I look at on the P&L side in 3rd Quarter, we have seen good savings in our cost of internal gross margin improvement on sequential basis. Is this largely because of lower investments on the EV business or there is something else to that?
Motherson Sumi Wiring India Limited
A couple of questions from my side. One is you talked about 40 crore impact at EBITDA level from the greenfield. Just to clarify, this is for 3rd Quarter and not quarterly basis or for the full year.
Okay and what would be revenue contribution from these 3 Greenfields? You mentioned EBITDA of 80 crore. What would be the revenue contribution from these 3 plants?
Tube Investments of India Limited
Continuing on the export side. So given that there is -- there are talks of increased tariffs in U.S., can you first talk about what is our exposure of exports to U.S.? And secondly, how do we see this opportunity from the U.S. market perspective given currently India at least is not part of those tariffs being put on. So how do you see that opportunity?
Got it. Got it. So would it be fair to say that the 20% export target, which we are talking about has some upside risk as exports get more broad-based across businesses?
Quickly want to check a clarification. For the Engineering business, you m entioned margins would have been flat if onetime expenses were not there flat vis-a-vis second quarter of last year at about 13.3%. Is that the right understanding?
Got it. So sequentially, it would be flat margins if onetime expenses are not there ? Secondly, if I look at the Engineering business revenue growth that seems to be much lower than what we have seen growth of underlying industries which caters to 2 -wheelers and PVs in that context? Any reason why growth has been muted. I believe exports also have seen a recovery. So, what is that I'm missing over here?
Craftsman Automation Limited
My question is on last year, in this quarter, we had multiple different impacts on the performance. So, if you can highlight the exact impact of Sunbeam acquisition on the Aluminium consol margin, what was the impact of that? And then on the stand -alone Powertrain business, you talked about several costs coming in and stand -alone Aluminium also had Bhiwadi plant impact. So, if you can talk about the impact of these transitionary costs, which are there in P&L that will make it easier for us to understand?
Okay. And similarly for the Powertrain, given there was so much of investment on the stationary engine as well as…
Maruti Suzuki India Limited
Quickly, on the demand side, so while we are expecting about 3.5% kind of a growth in fourth quarter, are we seeing divergent trends in rural versus urban, many of other segments are seeing weakness in the urban markets but rural is doing well, is the same the case for us?
Yes, right.
TVS Motor Company Limited
My question is on Norton investments. So now given we are nearing the completion of product development, do we need to invest further in Norton beyond what we've already invested?
Got it. And secondly, in the domestic market, some of the financiers, including banks and NBFCs, are highlighting increase in delinquencies on the consumer loan side, two -wheelers and that way. Are we seeing any signs of stress on finance availability for two -wheeler customers? Or that is yet to be -- it's not yet visible on the ground?
Hyundai Motor India Limited
What was the impact in staff cost in this quarter and how much were discounts in this quarter?
Yes. I mean 2Q was 1.9% of sales was discount. 3Q would be 2.5~3%, any indication?
Bajaj Auto Limited
Yes. Hi, my question pertains to the PLI incentives, given that this would be the first quarter where almost all our models would have been eligible for PLI, would you be excited to say that our realization of incentives would be close to the right 13% number? Or how should one think about that?
Okay. Sir, my question was, given that in 2Q, not all the models would have been eligible considering the timing differences of approval now that way. Would it be fair to say that 3Q would be the first quarter where we have seen a complete benefit of PLI coming in 3Q and in turn EBITDA breakeven and EBITDA positive for the EV portfolio is also aided by that? Or there can be further tailwind because of PLI in coming quarters? That's my question.
Balkrishna Industries Limited
Yes. So did we take any price hike in Q3?
Any price hikes in fourth quarter so far, in January so far?
Quickly, 2 questions. One is in previous call, we had talked about increase in RM cost, increase in freight cost and in turn margins in that context should have come substantially lower, but it seems that you've done an exceptionally good job on margin man agement. So any price hikes taken and if you can quantify the impact of RM cost in this quarter and the upcoming quarter?
Yes, what would be the price hike in Q2?
CEAT Limited
Couple of clarifications, f irst, one you mentioned Na gpur 2-Wheeler capacity expansion is 20,000 per day. Is that correct?
And secondly exports?
Eicher Motors Limited
Hi. My question pertains to this marketing step up which we have done during the 2nd Quarter and beyond, any sense on what could be the impact of that in our 2nd Quarter performance, and how should we see sustenance of that?
Okay. And this sustenance of growth post festive, would it be also attributable to the marriage season, which is expected to be fairly large in November this time, is marriage season a big catalyst for growth, retail demand for Royal Enfield as well. We know it's a very large contributor to the commuting segment, but for Royal Enfield is that very large, does it lead to a spike in demand?
Escorts Kubota Limited
Yes. My question pertains to the industry outlook which you have given. So, if I look at the growth for the industry until October would have been 4.5% or so. So, are we looking at -- is the remainder of the year to be about 5%, 6% only or that number is given the positives which you're looking at?
Got it. Got it. That's right. And secondly, Mr. Madan if you can also talk about how how stand- alone business performed excluding merger that could give us some reference points through the previous quarters back say. So, if you can share revenue, EBIT, PAT EBITDA, Standalone excluding merger that would be helpful.
Amara Raja Energy & Mobility Limited
A couple of clarifications. First, we indicated that margin would be in 14% to 14.5% range at INR2 lakh of lead. This is after factoring in for benefits of the tubular plant starting and in turn reduction in traded goods and also the recycling plant starting?
Got it. And you mentioned that the cost of recycled lead is not materially different than the virgin lead. Is that the right understanding?