Stockrabit · Analysts
Questions across 101 calls

Parikshit Kandpal

HDFC Securities

Cummins India Limited

Analysts/Institutional Investor Meet/Con. Call Updates Cummins India Limited has informed the Exchange about Transcript · 2026-05-29
Hi, Shveta, congratulations on a great quarter and the year. So my first question is on if I see the business over the last few quarters, so we are seeing incremental growth coming from data centers, both from Colo and Hyperscalers. And also after the transiti on of CPCB IV+, we have seen after treatment products gaining momentum. So, my question is, as we move to services on the distribution side of CPCB IV+ engines and also on the data center has the potential of scaling up, our related party transactions are significantly lower because we are sourcing this from CTIPL or to imports. So in light of this, how do you think about localization? How do you think about margins? Because higher growth comes from these segments, it could be potentially margin dilutive to the overall company. So that's my first question.
In particular, I was talking about QSK60, which is done by CTIPL and then QSK95 which we import. So as of now, if you can give some color on the percentage of revenue, how both of these could have contributed. And since we are expecting these to come in da ta centers over the next 3, 4 years, and the data center contributes 25% to the PowerGen overall revenues, and if it grows faster than the non-data center business, so don't you think over the next 3 to 4 years, this could actually start diluting it? Maybe right now not meaningful contribution to revenues, but then if it increases, then it will start hurting us?
Cummins India Limited CC-Jun26.pdf · 2026-05-29
Hi, Shveta, congratulations on a great quarter and the year. So my first question is on if I see the business over the last few quarters, so we are seeing incremental growth coming from data centers, both from Colo and Hyperscalers. And also after the transiti on of CPCB IV+, we have seen after treatment products gaining momentum. So, my question is, as we move to services on the distribution side of CPCB IV+ engines and also on the data center has the potential of scaling up, our related party transactions are significantly lower because we are sourcing this from CTIPL or to imports. So in light of this, how do you think about localization? How do you think about margins? Because higher growth comes from these segments, it could be potentially margin dilutive to the overall company. So that's my first question.
In particular, I was talking about QSK60, which is done by CTIPL and then QSK95 which we import. So as of now, if you can give some color on the percentage of revenue, how both of these could have contributed. And since we are expecting these to come in da ta centers over the next 3, 4 years, and the data center contributes 25% to the PowerGen overall revenues, and if it grows faster than the non-data center business, so don't you think over the next 3 to 4 years, this could actually start diluting it? Maybe right now not meaningful contribution to revenues, but then if it increases, then it will start hurting us?
FY2025 Q3 · 2026-02-05
Congratulations on a good quarter. So, Shveta, in this quarter, we have seen a decline in the Power Gen revenues, 16%, INR1,069 crores, and even last year if I see, it's INR1,271 crores. So, there is a data center element in both these quarters. So just to understand more color on the core growth, excluding data centers, if you can help us quantify what was the contribution of data center in this quarter and last quarter? And what was the core growth in the Power Gen business?
But last quarter if I see, INR1,271 crores of revenue in Q3 FY '25, so that in the last call you had said that in Q3 FY '25 call that there was an impact of data center. So, if I have to understand that this quarter there is no data center, so then like-to-like, what is the growth on Power Gen. So, in Q3, it was about 20%. Last call, you had mentioned, excluding data center. So just want to understand the health of the Power Gen business, what will be the growth? If you can quantify, that would be helpful.
Cummins India Limited CC-Feb26.pdf · 2026-02-05
Congratulations on a good quarter. So, Shveta, in this quarter, we have seen a decline in the Power Gen revenues, 16%, INR1,069 crores, and even last year if I see, it's INR1,271 crores. So, there is a data center element in both these quarters. So just to understand more color on the core growth, excluding data centers, if you can help us quantify what was the contribution of data center in this quarter and last quarter? And what was the core growth in the Power Gen business?
But last quarter if I see, INR1,271 crores of revenue in Q3 FY '25, so that in the last call you had said that in Q3 FY '25 call that there was an impact of data center. So, if I have to understand that this quarter there is no data center, so then like-to-like, what is the growth on Power Gen. So, in Q3, it was about 20%. Last call, you had mentioned, excluding data center. So just want to understand the health of the Power Gen business, what will be the growth? If you can quantify, that would be helpful.

Hitachi Energy India Limited

Hitachi Energy India Limited CC-Jun26.pdf · 2026-05-26
Hi, Venu. Congratulations on a great quarter, sir. So, my first question is about exports. So, we have seen a very robust order inflow from exports, if I do the numbers for some adjustments for HVDC, about Rs. 3,000 Crores plus for this year. So just wanted to understand, I mean, without any related party major orders this year? So how are we able to get these orders? How do you generate inquiries there? Do we compete with the parent entities in these geographies. So how does the allocation come? How do you get the inquiries because it's widespread across U.S., Europe and APAC? So just wanted some more color on this.
Okay. Sir, my second question is about the HVDC mix. I mean we have seen some softness in the margins, for the year. I mean we are somewhere around 14%, 15% EBITDA, but our peers are now in the range of 25% plus. So, our GTM is also low, and other expenses are high because of royalty. Just wanted to understand what HVDC a significant portion of this year’s revenue was, so if you can quantify across all the 3 HVDCs and then you have Marinus, you have Adani, you have the Power Grid and the Mumbai entry. So, was a significant part of your order book? And given that now two-third of our order book is HVDC. So, is there any scope for further margins to improve from here on?
Hitachi Energy India Limited CC-Feb26.pdf · 2026-02-05
Hi, Venu. Congratulations on a great quarter. So, my first question is on the CAPEX. If I see the utilization of the proceeds, we have only used Rs. 155 crores till now versus Rs. 700 crores which was envisage for FY '26. So, why is there a big disconnect between what the CAPEX incurred and what we have outlined in the document?
Sir, another question is on the order backlog. We have almost 30,000 shares of the order backlog and if I estimate or remove the HVDC parts, our base order will be somewhere around Rs. 10,000-Rs. 11,000 crores and now the Adani HVDC order is over. So, in the coming quarters before the HVDC starts getting executed from FY '27, so there could be a slowdown in execution in the coming quarters at least for two-three quarters now?

NTPC Limited

Prestige Estates Projects Limited

NCC Limited

NCC Limited CC-Feb26.pdf · 2026-02-06
My first question is on the execution. So if you can help us understand, I mean, last call, you had highlighted INR28,000 crores of orders won in March have not moved into execution. And even JJM, I think INR7,000 crores were under slow execution. So if you can help us understand the movement of these orders into execution? And also, if you can tie that up with your increase in debt of INR1,000 crores. So does it pertain to mobilization of these sites? Because that's a substantial jump without a commensurate increase in execution in this quarter?
Yes, sir. INR7,000 crores JJM and INR28,000 crores of projects won in March quarter of last...

Kirloskar Oil Engines Limited

Analysts/Institutional Investor Meet/Con. Call Updates Kirloskar Oil Engines Limited has informed the Exchange about Transcript · 2026-05-14
Hi Gauri and Rahul. Congratulations on a great quarter. hope I am audible?
So, my first question is on, I mean, we have se en a substantial increase in copper prices. And now this last quarter, we have seen almost 15% increase in pre island prices. So, have you taken any price hikes already for this correction? So, if you can bifurcate between the copper and the pig iron because pig iron is a recent phenomenon. So just your views on that?

ABB India Limited

ABB India Limited CC-Feb26.pdf · 2026-02-23
Congratulations on a great quarter. So first question is on the data center portfolio. So if you can help us understand versus the parent, so what parent is servicing globally? So what percentage of that we'll be servicing from India? And we also understand that parent has developed some very power-efficient solutions like SSDs, solid-state drives and transformers or is developing the solution. So when do we expect that kind of product to come into India? Because when these hyperscalers come into India in a big way, so it will mirror the global data center supply chain, so which may benefit us. So I just want to understand that the contribution, how much can it go from here on?

Sobha Limited

Godrej Properties Limited

Godrej Properties Limited CC-May26.pdf · 2026-05-04
Congratulations to the management team for a great quarter and financial year. Sir, my first question is on the pre-sales guidance. I mean in the current environment, we have given a very strong guidance. So just wanted some more color on geographically how we see the growth, some more color on the demand and the end markets? Because if I see your numbers in FY26, NCR has seen a de-growth and even on business development, I think we've just added one project in this year. Secondly, Bangalore and Pune, Bangalore has grown well. But again, there are concerns on AI- related disruption in demand, similarly, which may touch even Pune sentimentally. So how does one look and model the growth given the guidance which you have given, which looks to be quite strong? So any color on the end market's demand? And how do you think FY27 will play out for these regions?
And my second question was on the -- if I compare Q4 versus Q1, the initial part of Q1, so given this uncertainty globally, so are we -- so what -- any color on the footfalls and the conversions? And if you can help us also understand the premium segment or luxury housing, is there any delay in decision-making deal closures? Are you seeing incrementally the trend that people are elongating the decision-making cycle and which may impact H1, but maybe if things improve, H2 will come back solidly, I mean, strong for us. So how does one look at presales, where H1 will be a bit muted and then H2 will see a strong recovery. So just wanted some color on that.

Cemindia Projects Limited

The Phoenix Mills Limited

The Phoenix Mills Limited CC-Apr26.pdf · 2026-04-28
Yes, hi team. Congratulations on a good quarter. So, my first question is on the rentals. So, we have seen 21% consumption growth has translated to 10% growth in rentals. So, just wanted to understand if the mix of the tenant remains the same. So, is it correct to assume that typically conversion from consumption to rental will be roughly up to half, like 50%?
So, out of the INR 2,157 crore of rent, how much was minimum guarantee and how much was revenue share?

Thermax Limited

Thermax Limited CC-Feb25.pdf · 2026-02-05
Ashish, congratulations on a decent quarter. Sir, first question, in the last call, you had highlighted that in Q3, you will try to replicate both in Q3 and Q4, the revenues of Q4 last year, you were expecting a significant pickup in execution, which repor ted execution was slightly softer. So what were the reasons behind it or any issues around execution you're facing currently?
Just to clarify, this double digit is for the year as a whole, right, FY '26?

Brigade Enterprises Limited