Stockrabit · Analysts
Questions across 3 calls

Mitul Shah

DAM Capital Advisors

CEAT Limited

CEAT Limited CC-Sep24.pdf · 2024-10-18
Sir, I have two questions. First one is on this pricing discipline, which we have seen in past 1, 1.5 years. So, this question is to Arnab, sir. Sir, based on your past experience, what level of industry volume growth or in terms of utilization, have you seen pricing discipline or at what level of a decline or lower utilization pricing war starts based on your past experience?
Okay. Sir, second question, again, on the pricing side only is raw material has started going down. Natural rubber almost down by more than 20% from peak, crude is also down, steel prices. So roughly the entire RM basket is down by more than 10% from peak levels. Of course, from the weighted average price, it may not be significant lower, but going forward in Q4, when we are indicating possible raw material decline, so what would be the scenario in terms of passing on price to the end customer? Do you think there i s a possibility of retaining profitability by the industry? I'm not talking only about you, but considering the current environment, and would there be a lag effect in passing on this price benefit similar to the price hike lag effect, so industry can return better margins for 1 or 2 quarters?

Ramkrishna Forgings Limited

Ramkrishna Forgings Limited CC-Mar25.pdf ·
So again, first question on stand-alone Q4 revenue. We believe that there is no onetime adjustment in revenue. Entire inventory-related impact is in raw material side, right? So, the contraction in revenue is too high compared to the peer group Bharat Forge and all those leaders reported number. At the same time, commercial vehicle production Q -on-Q was also reasonably good. So, any specific reason apart from this inventory - related thing? Q4 & FY’25 Earnings Conference Call Transcript Page 7
Okay. The question is then FY '26 revenue, do we still maintain that guidance of about 15% to 20% revenue growth potential?