Questions across 18 calls

Pramod Amthe

InCred Capital

Tenneco Clean Air India Limited

Tenneco Clean Air India Limited CC-Jun26.pdf · 2026-06-03

Yeah, hi. Thanks for the opportunity. So the first question is with regard to exports, since it's a new business which is scaling up big time. How are you looking at the currency depreciation, does it stand in your books, will it be passed on to the parent? How are the contracts constructed for you?

I appreciate that for the future orders, but orders which you have disclosed now in terms order book, where does the currency as you deliver sits in your books or will it go to the customer or to the parent?

Endurance Technologies Limited

Endurance Technologies Limited CC-May26.pdf · 2026-05-15

This is with regard to the aluminium casting business. You operate in Europe substantially and the way you've scaled up your profitability post the merger and also now you seem to have won good business from India for the global clients. Would you anytime in the future look for entering into US territory for manufacturing considering the cost of energy is very high in Europe?

And similar contracts work for Europe or they are different?

Balkrishna Industries Limited

Balkrishna Industries Limited CC-May26.pdf · 2026-05-09

Thanks for taking my question. So if I have to look at your presentation, Slide 16, you are talking about overall capex till FY '29 of INR6,800 crores. This includes the recent announcement of INR2,000 crores?

And where is this incremental INR2,000 crores going into? Because your vision was anyway put out for FY '30. Is it going into existing capex cost, or you are adding more molds? What is that revision of almost 30% in capex?

Balkrishna Industries Limited CC-Feb26.pdf · 2026-01-29

Yes. Hi, thanks for taking my question. Sir, two questions. One, with regard to U.S. market, with the duties and all, who are the competitors who are gaining at your cost? And do you feel once -- as and when the duties normalize, you should still have a right to regain it back, which countries or which manufacturers? How to see it?

And second question is with regards to the new projects. When we visited last time similar time to the plant, you had some conveyor type of tire s, which you are planning as a new project and also specialty carbon. Any update in terms of client acceptance and orders on the same?

Balkrishna Industries Limited CC-Dec23.pdf · 2024-01-25

Sir, I wanted to check, considering you talked about supply chain issues, what is your inventory levels at the dealers in Europe and U.S.?

So, in that direction, if the supplies further get constrained with the shipment, do you think them to go below the comfortable levels this quarter?

Escorts Kubota Limited

Escorts Kubota Limited CC-May26.pdf · 2026-05-07

So the first one is with regard to the tractor industry outlook. When you are talking about a flattish or 2%, 3%, what is the type of quarterly volatility you are looking at? And what's the exit type of considering a high base in the second half?

So in that context, the FY28, again, it will be a challenging to turn around from a negative growth second half into a positive territory? Or you feel it will all again depend on the monsoons?

Hero MotoCorp Limited

Hero MotoCorp Limited CC-May26.pdf · 2026-05-06

Hi, thanks for taking my question. So the first question is with regard to Euler. Now you have been investing consistently almost like ₹200 crores quarterly. I wa nted to get how much stake you hold now end of the year? And what is the expected investment plan in FY '27 or next 2, 3 years?

And what's the business requirement, if you can disclose for next 1, 2 years.

Hero MotoCorp Limited CC-Nov25.pdf · 2025-11-14

So 2 questions, of which first one is with regard to the EV division. Thanks for the detailed data points on EVs and what we are trying to achieve in some of the key markets. What has worked for you in those 50 markets where you are number two ? Is it the characteristics of marketplace or product profile? And what you plan to do taking th ose successes into new markets or to that extent, what is the ambition of market share in the overall EV space?

And any aspirational market share in EVs?

Hero MotoCorp Limited CC-Mar24.pdf · 2024-05-08

First thing is with regard to the EV launches. When you are planning to launch two new products, how are you looking at the subsidies arena, do you feel the lower subsidies is the norm of the day and hence you have to launch much lower battery size to fit into that cost or you feel product expectations are still high in the customer level and headwinds will be there?

Sure. And the second question is with regard to the consolidation which is happening within the EV space. Considering your experience in Ather investment, do you see any opportunity in terms of doing the investments in keeping the startups still, especially to get any of the product technologies or you feel it’s more of a supply chain game and hence for incumbent like you there is no more scope of participating in M&A, just a thought on that.

Eicher Motors Limited

Eicher Motors Limited CC-Feb26.pdf · 2026-02-10

Hi, thanks for taking my question.The first question with regard to the capex amount and the way you are calling it brownfield. You already announced a 20% rise in the capacity to 1.8 to 1.4. Now we are talking about 1.4 million to almost 2 million?

Can you hear me now?

Maruti Suzuki India Limited

Maruti Suzuki India Limited CC-Jan26.pdf · 2026-01-28

So, two questions. One is considering the buoyancy in demand and also the low inventory, do you need to do some debottlenecking or what's the capex outlook? Are you advancing it?

So, would you balance between capacity versus new model launches? Because those are the two variables which you have on capex. How do you look at it?

Maruti Suzuki India Limited CC-Oct25.pdf · 2025-10-31

Hi Rahul. I wanted to get some color in terms of consumer profile in this recovery . Do you see any significant changes, either in terms of first-time buyer or rural or age profile of the buyer?

And looking at the first-time buyer, do you see a first-time buyer increasing. Do you need to do product interventions in the small car because that segment has not seen much as compared to peers and you being a leader you take that responsibility, is that fair to understand?

Bharat Forge Limited

Bharat Forge Limited CC-Aug25.pdf · 2025-08-06

Yes. Thanks for the opportunity. So, Amit, considering that this static overhang has been there for some time in the system, is there any pre-buying by the clients which has happened in the last couple of months?

Nothing of that sort, which you are seeing?

Bharat Forge Limited CC-Mar24.pdf · 2024-05-08

Amit, to understand more about the speed at which defense is moving, can you give some color in terms of how much of these are repeat orders, who are the competitors here and are these more of negotiated orders? How does this business really work?

But considering the order book which we disclose , which is very interesting, is there a way to disclose your bid pipeline, which typically the ordering businesses have, in case if you can give those disclosure features? So, that will help us to...

Samvardhana Motherson International Limited

Samvardhana Motherson International Limited CC-Dec23.pdf · 2024-02-12

So following up on the same SAS arguments you put out, considering that it's a large piece of your topline, you have achieved in the first quarter itself 11% margin looks like. Is there any one -off you booked here and what's the runway for margin expansion because this looks to be a margin accretive business now versus when you acquired it?

Samvardhana Motherson International Limited CC-Sep23.pdf · 2023-11-09

What I was asking was the 45 million CAPEX which you guys have called out, is there a scope to give it by division-wise that can help us to build the revenue profile or growth profile going forward?

And the second question is with regard to the broader industry-related trend for wage cost. The type of negative surprises some of the auto OEMs faced in the US, do you see that falling thr ough for some of the Tier-1 and Tier-2 suppliers also as increased wage cost when you renegotiate or second considering your global operations and inflation being pretty high in many of the countries you expect some repercussions of the same in many other plants?

TVS Motor Company Limited

TVS Motor Company Limited CC-Dec23.pdf · 2024-01-24

Sir, considering the amount of investment Norton is doing, would you help us understand the market opportunity there and which segments you are trying to target over the next two, three years' period? As you clearly said, it will take two , three years to realize the current benefits. That's one. Secondly, I just wanted to know, considering your success in EV in India, how are you looking at the opportunity for e-three-wheelers in the next few years' perspective?

Ashok Leyland Limited

Ashok Leyland Limited CC-Sep23.pdf · 2023-11-10

So this is with regard to the stro ng growth which you have alluded to for tractor trailers. Just curious to know, considering that exports are weak and also the f act that GST is coming up in has already kick started in the last 6 months. So where is this usage of tippers happening per se? Because when the GST started, there was a fear that it might be hitting the tractor trailer guys more than anybody else. So I wanted to know the customer behavior, what is it driving?

And any first half update on your defense business in terms of order wins or any execution plan for the full year?