Questions across 154 calls

Mohit Kumar

ICICI Securities

Kalpataru Projects International Limited

Kalpataru Projects International Limited CC-Mar25.pdf · 2025-05-19

My first question is on, sir, the Water segment. Of course, we delivered very strong revenues in T&D and B&F segment, but Water has lagged, Water has declined Y-o-Y. Of course, some part is due to delay in payments and delay in execution. But how do you see this segment in FY '26? Do you think you can improve upon compared to FY '25?

Understood, sir. My second question is, sir, is it possible to break the T&D order inflow between domestic and international? And can you give us the outlook on T&D domestic and Middle East separately? And do you think you can grow the order inflow on the high base of last year?

Jupiter Wagons Limited

Jupiter Wagons Limited CC-Mar25.pdf · 2025-05-19

Yes. Good evening, Sir, and thanks for the opportunity. My first question is on the execution for the Q4. Is the constraint on wheels easing out as we enter FY26 or has the wheel situation impacted our Q4 execution?

Understood. The second question is, of course, given that the wheel situation is still taking us, what kind of wagon manufacturing one can expect in FY26?

JSW Energy Limited

JSW Energy Limited CC-Mar25.pdf · 2025-05-15

Hi. Thanks for the opportunity. And congratulations on building a very strong pipeline and especially completing 2 inorganic acquisitions. My first question is, of course, you have built up a very large base load portfolio now, especially with the acquisition of Mahanadi. And now we're building a new power plant in West Bengal. My question is, do you still see accretion to this base load portfolio? And my related question is, what is the status of equipment placement and land acquisition for the West Bengal coal-based power plant?

First question was, how do you think about accretion, further accretion to this baseload portfolio? Do you still think that you would like to do more of the coal-based power plant?

Hitachi Energy India Limited

Hitachi Energy India Limited CC-Mar25.pdf · 2025-05-15

Good afternoon sir, Congratulations on a very strong order book and a great set of results. My first question is, sir, is it possible to share the HVDC order book at the end of FY '25? 11/23

Is it possible to share the HVDC order book at the end of FY '25?

Torrent Power Limited

Torrent Power Limited CC-Mar25.pdf · 2025-05-14

Thanks for the opportunity. The first question is on the, what was the CAPEX in FY'25 and the CAPEX amount budgeted for FY'26? And can you break up this across the businesses?

I am asking for the CAPEX breakup for FY'26?

Torrent Power Limited CC-Dec24.pdf · 2025-02-04

Yes. Thanks for the opportunity, sir. The first question is, is it possible to help us with the revenues, EBITDA, and PAT for Torrent Green Energy Limited for the nine month s? I think that's the new entity which you formed right now.

Understood. Understood.

Tata Power Company Limited

Tata Power Company Limited CC-Mar25.pdf · 2025-05-14

Yes. Good evening, sir. Thank s for the opportunity. My first question was, there was a news in the media that you are rethinking about exiting coal business, is that true? If true, are you also exploring organic growth?

Understood. Sir, my second question is, there is a Note Number 2 which talk s about some adjustment from the C ERC judgment. What is the impact of that Note Number 2 in this particular quarter?

Tata Power Company Limited CC-Dec24.pdf · 2025-02-04

Good evening sir and thanks for the opportunity. So my first question is on the nuclear power business. What is your expectation of the new business model? Is it fair to expect that this will be a cost-plus kind of model? And the question is that, do you think the time line of the small model nuclear reactor can you reduce to 3 to 4 years?

Understood. My second question is, sir, have you heard anything incrementally on the approved list of module , is it being prepared or do you think it will get published over maybe with a delay of 4 to 6 months? And how do you think about the implementation of this?

Carborundum Universal Limited

Carborundum Universal Limited CC-Mar25.pdf · 2025-05-13

So my first question is how is the capex and implied expenses expect to incur to achieve the strategic objectives which have laid out for the next 5 years?

Is it possible to share the R&D capex, which you incurred last year?

Thermax Limited

Thermax Limited CC-Mar25.pdf · 2025-05-12

My first question is on the bio-CNG. Have you finished the execution on the bio-CNG project? And if yes, how has been the initial performance? And the related question is that on the industry, how do you see this industry order inflow outlook for CY -- for FY '26?

Understood, sir. My second question is on the large order inflow. I think we were slightly...

ABB India Limited

ABB India Limited CC-Mar25.pdf · 2025-05-12

Good afternoon, sir, and thanks for the opportunity. My first question is on the motor side. As per the annual report, the penetration of IE3 and IE4 was 54%. What was this number for CY '23? And what will the market share in IE3 and IE4 motors?

Sir, any color on the order’s number for CY '23. CY '23 versus CY '24, that 54%, how does this compare?

CG Power and Industrial Solutions Limited

CG Power and Industrial Solutions Limited CC-Mar25.pdf · 2025-05-06

My question is on the -- sir, you won a significant order from Kinet. The press release mentioned propulsion kit. What do you mean by the kit? Does it include only motors and transformers? Or does it also include converters? And is it fair to assume that this INR4 billion and INR4.5 billion order will get consumed in FY '26 and the new orders from the same customer can follow through?

Understood. My second question is, sir, how does the central government subsidizes for the semiconductor project, is it based on the milestones on which the government release the money? Will the money be -- will come in tranches or come at the end of the project? And w hat is the capex plan for Semi in FY '26?

Adani Enterprises Limited

Adani Enterprises Limited CC-Mar25.pdf · 2025-05-01

Yes. Good evening, sir. And thanks for the opportunity. My first question is, you have accounted for Adani Wilmar sale in this quarter, right? Is there an impact on the tax because of this sale?

Okay. Understood. Second one is the solar cell and module line and wafer, are you restricting ourselves to 6 GW cell and module? Are you not expanding into wafer? And what is the timeline for this expansion?

JSW Infrastructure Limited

JSW Infrastructure Limited CC-Mar25.pdf · 2025-04-30

My question is, with the government looking to free up the pricing for existing concession, what do you make of the draft proposal?

So, this is -- broadly it is as per industry liking the adjustments on the revenues and formula which you have agreed as per the adjustments?

Adani Energy Solutions Limited

Adani Energy Solutions Limited CC-Apr25.pdf · 2025-04-25

Sir my second question is on the opportunities on the transmission side. FY25 was a great year. Do you see a similar pipeline in the next 12 to 18 months? Or do you think the pipeline has declined to a certain extent? Just on the smart meter, similarly, if you can throw some light, I believe that Tamil Nadu has floated an order. Is that right? And are there any other opportunity on the smart meter?

My first question is on the HVDC, which you won recently at Khavda. What is the timeline for execution? What is the timeline which you expect the financial closure to happen? I'm asking this question because this is slightly larger project, right, compared to others.

Waaree Energies Limited

Waaree Energies Limited CC-Mar25.pdf · 2025-04-23

Good Morning and congratulations on a very good quarter and fiscal. So my first question is on the DCR, Have you started building the DCR order book given that our cells capacity is up and running? Is it possible to give us some sense of it if you don't want to quantify?

Is it possible to quantify that number in gigawatts now?

SJVN Limited

SJVN Limited CC-Dec24.pdf · 2025-02-14

First question, is the total renewables portfolio, which you had won, I think where you participated and one is around 7 gigawatt, right? While you just mentioned that the under construction portfolio is 2.2 gigawatt. So where is the gap? Is it there's a gap in signing the PPA? Is the PPA signing getting delayed?

Sir, in your opinion, of course, it's a large gap. Do you think that most of the PPA will get signed in the next coming months? Or do you think there could be further delay?

NLC India Limited

NLC India Limited CC-Dec24.pdf · 2025-02-11

Sir, good evening and thanks for the opportunity. And congratulations on a very good quarter. My first, Sir, it is heartening to see NLC doing a very good work in thermal, renewables and very new coal mines. My first question is, what are the under recovery on the standalone and consolidated basis in 9 months? And what is the status of NLC that 500 MW which was undergoing a refurbishment?

Understood, sir. And so what is the status of the power plant where we are trying to rectify?

Engineers India Limited

Engineers India Limited CC-Dec24.pdf · 2025-02-10

My first question is on what is the status of the IOCL tender where we were L1. Can we expect the finalization of the tender in the coming months?

Sir, IOCL. I think one of the tenders we were L1 right? Last quarter, we announced that we -- I think we have mentioned that we are L1 in IOCL tenders, Panipat -- sorry, Paradip?

GE Vernova T&D India Limited

GE Vernova T&D India Limited CC-Dec24.pdf · 2025-02-05

My first question is on the gross margin. I think you reported a gross margin of 37%. Are there anything one-off in this quarter? Because the last time, I think we had hinted one -offs. So just checking whether there's any one-off in this particular quarter?

Understood sir. My second question is on the HVDC Leh Ladakh. Are we in the contention, and why there is a delay from the Power Grid to finalize this tender? Is there any -- can you throw some color?