Stockrabit · Analysts
Questions across 38 calls

Mukesh Saraf

Avendus Spark

Container Corporation of India Limited

Container Corporation of India Limited CC-Sep24.pdf · 2024-10-30
The question is around EXIM growth. So, if I look at your origination values, they have grown around 3% this quarter. When I look at, say, the port volume growth at some of the major ports, obviously JNPT has grown at 15%, Mumbai at 12% in the 2nd Quarter. So, just trying to understand this gap is widening between our origination growth and the port volume growth. JNPT obviously you had mentioned that rail coefficients have been falling. But in Mundra, what we understand is rail coefficients have been going up as well. So, could you kind of throw some light on the gap between the growth numbers for us and at the port level, especially in Mundra kind of ports?
And the second question is, I think you had mentioned in the opening remarks and in the last quarter as well, that you are getting into these long-term contracts with shipping lines, maybe three-to-five-year kind of contracts. While we don't want the details in terms of the commercials, could you throw some light on pricing, etc? How these would work? Because these are volume- based contracts and would you have to kind of bid at attractive prices to get those higher volumes? How does this work usually?
Container Corporation of India Limited CC-Dec24.pdf · 2024-01-31
Thank you for the opportunity. Sir, you mentioned about the rail coefficients in this quarter. And what I see is it has largely stayed the same, say over the last few quarters. And when I look at the port volumes, the container volume growth at say, Mundra or JNPT, it is up double digit in this quarter as well. It's up 10% or so. But our originating volumes are flat this quarter. So just trying to understand, our originating volumes are flat, but the port volumes are up and the rail coefficients are flat. This either points out to a market share loss, but you're clearly saying that you've gained market share or have kept it flat. So could you help understand the relationship between these three data points, sir?
So if I look at -- I mean, obviously you have not given this quarter numbers, but this quarter probably there have been a drop in market share, so then?
Container Corporation of India Limited CC-Dec23.pdf · 2024-01-25
My first question is on this busy season surcharge. In some form, we have seen this increase in haulage rates by new railways after eight years. So -- and especially now that DFC operational, we've seen this has increased. Should we kind of weigh slightly more into it that this is probably the kind of things to come. It's been eight years how it started increasing haulage rates. And if so, how are -- how is CONCOR or how is the industry looking at it given that this can kind of hamper the road to railway? So, what are your thoughts on this?
Sorry. So, what I was asking is this -- is it audible now, sir?
Container Corporation of India Limited CC-Sep23.pdf · 2023-11-03
Okay. So the question is on market share. I think last couple of quarters, there was some discussion around some loss in market share and then you had introduced the 1 plus 1 scheme to gain some kind of a share there. So if you could kind of give some update on how the effect of that scheme has been? And have we started gaining some of the share that we lost?
All right, sir, sure. Understood. And second question is on domestic. While we've seen -- started seeing good growth, I do remember that cement was one key segment there, which had kind of a decline for us because of the policy there from Indian Railways. Any update there? Have you started again moving bulk cement on our containers, sir?

Schaeffler India Limited

Schaeffler India Limited CC-Sep24.pdf · 2024-10-24
My first question is on the e -axle order that we had won last year. And I think the -- what we had stated is that the revenues will start flowing in from second half this year. So just trying to understand, have we started commercializing that product? And what's the status of that orders?
Got that. Understood. And second question is, I think on 1st October, now the parent has now merged Vitesco. So, anything that you would want to comment on what's the plan of action here for Vitesco India Limited? Is there a plan of integrating that, merging that with Schaeffler India? Anything that you can comment on?
Schaeffler India Limited CC-Mar24.pdf · 2024-04-26
My first question is on exports. You did mention that you were surprised with the kind of pick up in the first quarter. So, yes, there has been sequential. Could you give some more color on how do you see going ahead the ramp up in exports to be? Hardevi Vazirani So, the question is if I heard it correctly, it was on exports?
That's right. So, the question is just on the visibility that you have going ahead because there has been a sequential improvement, but you also mentioned in the opening remarks, it was surprising the improvement. So, just like something that we can expect will continue to improve from here, how do we look at? Hardevi Vazirani If we look at exports then Q1’2024 vis-à-vis Q4, we saw a more than 10% rebound , and this came from all the regions. Of course , one thing is that the stocks that Europe was consuming have reached optimum level and thereby they have started placing the orders now , but at the same time there were some efforts put in by the management to acquire Asia Pacific market where we have also faired quite well. All in all, the response from all the regions was better than Q4.
Schaeffler India Limited CC-Sep23.pdf · 2023-10-27
Sir, good evening and thank you for the opportunity. My firs t ques tion is on the export sales. We have seen exports d ecline 21% in this quarter. While you did kind of mention ed that there are certain globa l factors and the weakness that i s impacting exports. In some of the previous calls you had also mentioned that we have about a year of an order b ook, in terms of visibility and also that it is more like a substitute business that we are getting in a business that is basically moving out of getting manufactured and we see a lot of it is getting manufactured in Indi a. So, with these aspects, could yo u kind of provide us some more visibility on exports and is it just a temporary kind of a weakness until we have capacities coming in or is there something else happening here?
Got it. Thank you for that detailed response, Sir, and just one follow up on that, if you could give some sense on the geographic expo rts, how it moved. I think you have given some color last time in about North America, Europe, and Southeast Asia.

Hero MotoCorp Limited

Bharat Forge Limited

Bharat Forge Limited CC-Jun24.pdf · 2024-08-08
My first question is on the European subsidi aries, in the opening remarks there was some mention about pricing actions being taken there. So , in the previous quarters we have been mentioning that we should soon start taking some pricing action. So, the question is, is this going to be going on for some more time, like an ongoing price action that we will take over the next few quarters, or is it like a one time that we are already done with? Amit Kalyani So, it will be done by next quarter fully. And, then it will be implemented, and it will be in place.
And this would be for across your customers in the European operations? Amit Kalyani For aluminum.

TVS Motor Company Limited

TVS Motor Company Limited CC-Jun24.pdf · 2024-08-06
While most of my questions have been answered, so this question is on your upcoming EV launches. Could you kind of share some aspects about the new generation platforms? So, basically trying to look at how are you looking at insourcing versus outsourcing of some of EV components? And would the new design or the new platform be a lot more cost effective in terms of your contribution margins, assuming everything else kind of stays the same.
Sure, Sir. I understand that. So, what I was looking for is versus your current iQube platform, how would the new generation platform be different in terms of say would it have an integrated motor controller, or would there be some other such aspects which would probably be reducing our cost in this?

Ashok Leyland Limited

Ashok Leyland Limited CC-Jun24.pdf · 2024-07-26
My question is on your engines . What I notice is that most of the vehicles come with a 250- horsepower engine and obviously we are seeing a clear shift towards higher tonnage vehicles and also your commentary suggested that we will see more and more shift towards tractor - trailers and larger vehicles. So , how do we place in the future, say we require 350 or 400 horsepower engines, how we place there? Have we started doing some work towards developing those products? Because we do have one 300 engine , if I am not wrong. So, are we looking at some tie-ups in the future or we kind of can develop these on our own?
Would this require large investments from our side, or this is like an ongoing thing that we have anyway been doing?

ZF Commercial Vehicle Control Systems India Limited

ZF Commercial Vehicle Control Systems India Limited CC-Jun24.pdf · 2024-07-24
Good afternoon and thank you for the opportunity. First question is on your CV output that you mentioned that you're maintaining. Could you give some colour on how the mix also could move especially the trailers, because obviously last year we saw the trailer mix go up significantly and that obviously benefited us with the trailer ABS and some other products. So do you see any kind of mix deteriorating back to the intermediate vehicles the way we saw it so far in the first quarter?
On the exports side would you be able to provide a broad breakup on the product lines you have compressors, actuator, the brake chambers etc.
ZF Commercial Vehicle Control Systems India Limited CC-Dec23.pdf · 2024-01-31
Good morning and thank you for the opportunity. My first question is on the exports business. Obviously this quarter we have seen a decline and you did mentioned that you have visibility of about a quarter, but my question is slightly for the next year FY2025, I think last couple of quarters you have been mentioning about some new orders like the 564cc compressor for DAF and also exports to China where the lever for this brake etc. So these seem to be orders where we are substituting some existing manufacturing that is happening outside of India. So is it fair to still assume that even if the European and maybe the North American truck market is weak, we can still grow exports in this coming year because of our substituting some of the local manufacturing there.
Thank you for the opportunity again. I got disconnected. On the exports question, so just as a continuation like you did mentioned that next month we are starting with the Oragadam facility and so we can see some growth. So any kind of target or any guidance you want to give like can we see a double digit kind of growth next year in exports? Any such indication that you can give.
ZF Commercial Vehicle Control Systems India Limited CC-Nov25.pdf ·
First question is on exports. When I look at your FY '25 annual report, the related party transactions, which kind of cover majority of your exports to the group entity. U.S. as such seems very small in that. So is it that we are indirectly supplying to U. S. via entities in other geographies? Because this year, first half seem to suggest that U.S. weakness has impacted the entire exports. So just trying to understand that.
Understood. Understood. That clarifies, ma'am. And second question is on the regulation. While the draft regulation mentioned about October '26, and I think we are expecting a delay there. Just trying to understand the delays primarily because the OEMs are concerned with the cost? Or is it some other operational homologation or technological issues? I'm just trying to understand what's the thought process there from the other stakeholders? Paramjit Singh Chadha : I think the answer to this is exactly not with us, but it depends upon the OEM strategy on this. Definitely, cost is one factor. But just to update you that we have a special solution for India market, which is not as costly as what we are providing abroad .

CEAT Limited

CEAT Limited CC-Jun24.pdf · 2024-07-19
I just had one question. You did mention about the independent pricing strategies now across segments. So could you give us some sense on, say, for a like -to-like SKU in each of these categories, how are we placed in terms of pricing or just a new market l eader in each of these segments?
Yes. Broadly, actually, in some form, I was trying to understand if there is some -- if there is going be some independence in pricing because in 2 -wheelers, we weren't clearly able to take too much hikes. Obviously, the leader there did not take hikes in the last quarter. And in TBR , we are looking to take hikes. Obviously, we are still priced lower than we say the market leader there. So just trying to get a sense, while we have over the last year or so, we have taken a lot of hikes. Are we coming to a situation where from here on, taking hikes is actually going to be a lot more competitive because we're starting to see a lot of price actions, some discounting the leaders taking price hikes with a much larger lag now. So I was just trying to get that sense?

Timken India Limited

Timken India Limited CC-Dec23.pdf · 2024-02-21
As the question queue builds, I will just start off with some of the I think more hygiene question. So, obviously exports is one important area and I think last quarter also you had commented that things are weak, but I think the expectation was that things would start kind of showing some signs of improvement. But seems like again sequential decline. So, could you give us some more color how much is more of an inventory correction, how much is an actual end market demand weakness and how should we look at exports going forward given that we have a lot of the parent as such is obviously continue to look at Timken India as very favorably, so could you kind of give more sense there?

UNO Minda Limited

UNO Minda Limited CC-Sep23.pdf · 2023-11-07
Yes. Sorry about that. So first question is on the controller business. Obviously, that's right now part of the stand-alone entity. What I do remember that there was some commentary that once the EV plant starts at the JV level, there will be some -- either there will be related party transaction between the stand-alone and the JV? Or there'll be a move of some of these products into the JV? So could you just remind us of how that's going to work, sir?
Okay. So the motor controller revenue that we -- or the orders that we have, that will be made separately at the JV level?

Craftsman Automation Limited