Questions across 5 calls

Priya Ranjan

HDFC AMC

CIE Automotive India Limited

CIE Automotive India Limited CC-Apr26.pdf · 2026-04-24

Just a couple of things. One is on the capex side. Do you see there is acceleration in capex this year? Because last year, we were short of capacities in many of the quarters. And -- I mean, when the demand has picked up? And how do we see this -- do you need to increase the kind of presses, maybe higher tonnage presses, etcetera, is required now? I mean what is the capex and capacity increase?

And I mean I'm just a little bit puzzled about your Metalcastello performance. I mean, if I look at the Caterpillar global growth, they have been growing very, very strongly. I mean the North America market, et cetera, is growing like 18%, 17% if you look at. So what category of the Caterpillar you are catering to and that's why you are underperforming? I mean, if you look at the Caterpillar numbers, I mean, it doesn't show that, I mean, there is a weakness. I mean, why should we underperform there unless we have certain segments which Caterpillar is also underperforming and why?

CIE Automotive India Limited CC-Dec23.pdf · 2024-02-20

Just a couple of questions from Ander, since I think around 70% of the business is broadly now coming from India. So how much time do you spend in India? Because I think the Indian management or Indian team has when the Mahindra was declining you were saying Mahindra was declining that's why I am declining when Mahindra is growing you are saying probably, we are little bit moving ahead of Mahindra. So , what is happening with the Company? Either the consistency of the local management is not there, or their focus is not there or whether are you giving enough time to the local management or are you not taking cognizance of what is their underperformance in last 10 years?

Escorts Kubota Limited

Escorts Kubota Limited CC-Nov25.pdf · 2025-11-04

So just a couple of things. One is on the finance penetration. I mean, you have launched the captive finance. So how is that panning out because that was one of the aspect of, say, market share gains. So where are we? And how do we want to progress on that? And secondly, on the agri solution, I mean, the harvester, how much we are localized and what is the -- because you see a lot of demand, etcetera, from the harvester side. And that's a high- value item. So what is the progress on the localization, etcetera, on that side? That is part one. I mean let's first speak on that, then we'll move to the other one.

So any plan? I mean, this plan localization can be done at some -- any volume you are looking at, at that point of time, you want to localize? Or we have to wait until the new plant comes, I mean the new land greenfield comes up, then we will probably look into it.

Escorts Kubota Limited CC-Sep24.pdf · 2024-11-07

So, my question is on the construction equipment, we are closer to around double-digit margin. And -- what is the path to maybe mid -teen margin in the construction equipment because the profitability from the past has substantially improved. But I think for t he full company to have a double-digit margin -- I mean the mid-teen margin in this segment also has to go to somewhere around mid-teen margins. So -- and a longer-term outlook in terms of growth, I mean, which are the segment because backhoe, we are still not able to grow meaningfully in terms of market share. So, what are the levers of growth in that segment? Sanjeev Bajaj Yes. So, I will respond to this in terms of the actions which we are taking to improve the margin. But I mean the direction of mid -teens would be probably Bharat sir would be able to respond better. So -- so you are right. Currently, we have improved from very low levels in the past few years to 10% around that. And the next levers for growth would come from, of course, the industry is expected to grow tremendously o ver 5 to 6 years because of the focus of the government on infrastructure. And we believe that the overall Construction equipment, which was 1.37 lakhs last year will go to more than 2 lakhs by 2030 and around that. So therefore, there is an opportunity in terms of volume, which will come to us, and we represent close to 50% of the total industry. So that in that way, the opportunity will be available for us also. Going forward, I think, as you see in back hoe loaders, so there is a lot of work being done on backhoe loaders because this product is now getting ready for sales in global channels, including the Kubota channel worldwide and we are coming up with the new platform of backhoe loaders along with the BS V introduction, which will happen in first quarter of next year. So that is going to make this product more globally acceptable and will lead to larger volumes. Even on the crane side, the product portfolio which is being worked out for midterm business plan, and we are expecting that there will be industry growth, and there will also be need for larger models, which, of course, will contribute more in terms of margins. So, we have a healthy plan of introducing new models in the coming time.

And do you see the financing arm as a lever in this segment as well? Sanjeev Bajaj Yes definitely.

Eicher Motors Limited

Eicher Motors Limited CC-Sep24.pdf · 2024-11-13

Just a couple of questions. One is on the international side, so we are seeing some kind of pickup. And some of the geographies we have been doing exceptionally well, particularly Latin America, et cetera and you have entered, probably Turkey, last year sometime, earlier this year probably and Mexico, these two are very large two-wheeler markets. So, if you can throw some light on the ramp up potential in these markets, and these are, since, large two-wheeler markets. So, can we see the new peak in the export market very quickly, or it will take some time, it will grow at its own pace. And secondly, on the dividend policy, now we have a substantial chunk of the cash pile up and every year we are probably throwing up more than say (+5000) crore, in terms of broadly in free cash flow, et cetera. So, can we expect better dividend policy going forward?