Stockrabit · Analysts
Questions across 22 calls

Priyank Chheda

Vallum Capital

Bank of Maharashtra

Bank of Maharashtra CC-Jul26.pdf · 2026-07-10
Hi, this is a Priyank Chheda from Vallum Capital. What a fantastic start to FY '27, Nidhu, sir! First question, our NII growth, which is net interest income growth has lagged our total advances growth of 27% versus NII growth of 14.5%. And I understand as well as reconciled that PPOP growth, which is operating profit growth has been 21%, which is again higher, but still lagging the loan growth, which only means that NIMs have a bit compressed. And yet, they are h igher than what you have guided? So just would like to understand, would you want us to only focus on operating profit growth along with the higher -- way higher loan growth, which is with the system level growth, which is also expanding and improving. So just guide us on how NII growth w ith loan growth would pan out for the full year or Q1, anything to call out as one-off?
Perfectly, we understood, sir. Definitely, there are a lot of operating level changes happening. And no doubt of that. When you guided for loan growth in FY27 at the start of this year or meaning at the end of last quarter, the system level growth has been accelerating versus what you had guided at that point of time. And rightfully, even your advances growth has been accelerating in that manner. Would you want to revisit your guidance of 18% loan growth for the full year to the higher number? And wanted -- on the other side, I wanted your observation on the current account balances. I understand that Q1 is usually weaker and it's usually 10% softer than the Q4 or year- ending quarter. This time, it was quite a bit steeper decline that we saw in current account balances, I could not reconcile if there was a corporate loan growth happening. So I thought that, current account balances should have seen sharp increase. Anything -- any observations on that would be happy to hear.
Bank of Maharashtra CC-Apr26.pdf · 2026-04-20
First, sir, you have been highlighting on various calls about the strategy, which is working well. I would like to hear it out again on what actually has played out for Bank of Maharashtra to achieve all the guidances that we set 12 months ago in such a volatile year? And if you can also touch upon what will work -- what has worked till now and what will work going ahead over the next 2, 3 years?
Amazing for the -- and much appreciate the detailing. S ir, I just have another two questions. Second question on the 18, 19 parameters which you had said on the various level guidances and the forward- looking statements that you had made for the bank for us to judge for the following 12 years, and you have meticulously achieved that in FY26. What would be those comparable numbers when I have to look Bank of Maharashtra for FY27? That is my question number second.

Whirlpool of India Limited

Whirlpool of India Limited CC-May26.pdf · 2026-05-22
Yes, hi. Thank you, Eswar and team. Firstly, keeping your promise to do the call and handholding the minorities along with you and what a wonderful performance. First, clarifying for the incremental regulatory e-waste provisioning and whatever the electric energy upcharge. So, what was this, if you can quantify for the cost for Q4 and FY 2026? And also the rationale behind doing it, would it be a incremental means that would it be it for the whole of the following year based on the volume assumptions we have accounted for the following year or would it be repeated also, the cost would get further repeated for FY 2027? And have you seen this channel inventory now matching up with the norms and the regulatory on the ground so that you can recover that cost because everyone would also have a like-to-like impact on the cost?
Perfectly. So, hence my follow-up question and I thought so, I will take your perspective what can be the scenario that can play out with the Middle East raw material and freight charges going up as well as regulatory cost further loading up. So, the two scenarios which we can think of it can happen is maybe a competition rationalizes and the pressure eases and then this is followed with the pricing growth and then this scenario would lead to maybe a market share consolidation within -- gains to the incumbents. Or do you think that there can be a downtrading itself by consumer where the cost loading happens so high and it would overtakes all the efforts that we would be doing? I mean, just your thoughts on what can be the possible scenario that you think can be playing out in our industry?

DOMS Industries Limited

DOMS Industries Limited CC-Nov25.pdf · 2025-11-11
My question is on the employee cost. It has gone up significantly. And in general, of course, with the Uniclan sales consolidating, I'm aware. With the sales growing even ex of Uniclan sales growing at 20%, we don't find that operating leverage playing out in our EBITDA margins. Why would be that so? And also, on the question on the employee cost quarter-on-quarter inching up?
Second question was on the operating leverage kicking in. Of course, now I understand that there is a cost which has been loaded up of the new plant, right? Would it be possible to quantify over the last 6 months? What kind of a cost would have got loaded up in the expectation of the new plant starting up?
DOMS Industries Limited CC-Jun25.pdf · 2025-08-11
Hi, Rahul bhai. Thank you for the opportunity. My question is, would it be possible to call out the volume and the ASP growth in the core station ery business for this quarter like we called out in the last quarter?
Very clear. My second question is on the expansions in the existing plot area, not the new 44 -acre land. We were coming up with a pencil expansion from I think 5.5 million per day to 8 million. By when is that expected? And as well as if you can also touch upon the books capacity addition that we were planning to add another 15% capacity over there, the pens capacity also we were planning to add by 50%. So, what is the status of all those capacity expansions outside the 44-acre if you can call out, it will be helpful?
DOMS Industries Limited CC-Dec24.pdf · 2025-02-04
Hi, I hope my voice is clear. My question is on -- we have clearly seen a revenue trajectory going up for office supply. So I believe we have increased our capacity of pens from, say, around 2 million pens per day to 3 million pens a day. Is that number right and is that the right way to think of it? As well as if you can just reconfirm the pencil capacity, we are adding around 2.5 million pencils per day. Is that the number right?
Perfect. So this INR 90 crores capex or the asset addition that you have done is to do with the office supply, which includes blue pens and markers, while the pencil capacity is yet to come from this quarter. Is that right? And then you were supposed to add certain capacities in crayons and sketch pens also. Would you be able to help me with that numbers from where to where we have gone?
DOMS Industries Limited CC-Mar24.pdf · 2024-05-27
Sir, my question is on distribution. We are present in 1.25 lakh retailers. How much of the universe is yet unmet or untapped? And within the existing coverage, how are we tracking the throughput to increase? So the two parts of the question is, one, how much do we plan to add which is unmet and how much depth can we create within the existing distribution channel?
Perfect. And so what would be the sales contribution coming from the new products that we have developed over the last one year or two years, whatever numbers you would like to call out for?

Clean Science and Technology Limited

Clean Science and Technology Limited CC-May26.pdf · 2026-05-14
First, Siddharth, if we were to analyze the situation of our industry before this disruption that happened, the prices were trending at 20-year low and which was the case with the base chemical as well as the end products that we make. Now the position as we stand today, I'm sure the base chemical would have moved, would you be able to quantify in certain or any -- and in broad range that would have been the price hikes or the increase in the prices because of whatever the reason that we would have taken st anding as on date, which should be reflected in the coming quarters? And to our positioning or our situation where we are, in our industry, would there be certain any disruption which would lead to an advantaged position for us to supply our materials, ma ybe there would be certain other players in Europe who would be facing high cost of raw materials, maybe certain parts of China may be facing some other disruption. So we would be in the position to ramp up our core products other than HALS? I'm not talkin g about HALS, but our stand-alone business.
Got it. But we would not be able to quantify that benefit that we should think of it when it comes to FY27 in terms of stand-alone business. And just wanted your thoughts around what should be -- after reaching 1,000 tonnes of HALS sales in Q4, what should be that number that we should think of as a target for FY27? And also, I just missed out what should be the utilization that we are planning in HQ catechol for FY27 that we should think of?
Clean Science and Technology Limited CC-Dec24.pdf · 2025-01-30
Yes. Hi, team, congratulations for great set of numbers. My question is on we were planning to take some price hike somewhere post December. Have you taken that? Is that the reflection of gross margins quarter-on-quarter improving or is it because phenol prices have slightly fallen down, so without price increase also is what the gross margin gains have come?
Perfect. Now coming to MEHQ, P-BQ and TBHQ, MEHQ, what has been the utilization based on capacity? Has that improved slightly? P-BQ and also TBHQ, if you can highlight, in P-BQ, we were supposed to restart, in last quarter somewhere you had given some update. Update on that also will be helpful.
Clean Science and Technology Limited CC-Sep24.pdf · 2024-11-07
Hi, Siddharth, and congratulations for a fantastic performance on volumes. Again, coming back to gross margins. So with the HALS mix further going up, it is not expected that gross margin mix will slightly deteriorate as well as EBITDA margin mix will slightly deteriorate. Now when we, again, prioritize volumes, should you think that this would further go down and hence further ramp-up in the mix?
Hello. Yes, we can hear you, Siddharth.

BIRLASOFT LIMITED

BIRLASOFT LIMITED CC-Feb26.pdf · 2026-01-28
Congratulations to the management team for walking the talk about the growth in Q2, Q3, and Q4. I will first start with my first question on the verticals. Data and Digital has been the story across the sector, across the IT companies with respect to modernization as well as digital revenue. So, in this segment, we have seen a decline after a growth that was reported in H1. What has been the reading through this? How should we read this decline? Is it one-off or related to furloughs? And the related question on Infra, which is again 10% of the revenues, and I am sure we had given up some pass-through revenues and given up some businesses over here in H1. But again, when I see Q3, we have seen a strong growth, and I suppose this is coming from the ROW market. So, how should we look across the growth in Data & Digital, which is segment number one, and the last segment, which is Infra, over a steady state?
And just to appreciate the readings between the infrastructure segment, can we get details around what kind of work we do in Infrastructure as a broader vertical?
BIRLASOFT LIMITED CC-Nov25.pdf · 2025-11-06
My first question is, of course, a lot of visibility and the discussion around the order book being done. At the first place , I refer your statement that your goal was to first deliver a sequential growth in the revenue, which I am supposing has nothing to do with the order book ing but the orders that were already in the hand , we were supposed to deliver a sequential growth in Q2. What has that led to this versus what you were thinking? That is my first question.
No, actually not, sir. No, no, no. Sir, I will be honest enough. I am not having a clarity wherein we let go some of the business. I am sure with whatever the margin mix that you would have, at the same time, we are trying to build a solid pipeline, then also build a solid order book , something which I am not able to connect. Let me also try upon my another question in a similar fashion. We indicated that roughly $160 -$165 million would be the signing that we would be doing in Q2. And I am talking about the signing that we would be doing because there was a large deal that was expected to get closed in the month of August. Has that deal been shifted to Q3 now is what you are trying to say? Or there was another deal which was already shifted from Q1 to Q2, has been shifted to Q3? I am not able to get on both the sides wherein we let go a few business. Was it not strategically a fit? Then is there enough business on our plate to hunt for that $850 million of orders and also to grow?
BIRLASOFT LIMITED CC-Jun25.pdf · 2025-08-07
Hi team, thank you for the opportunity. I'm sure, in these challenging times, there are a lot of things that, outside the macro, some things that Birlasoft as a team and the management team would implement so that we emerge out much more stronger. So I would want you to highlight the key learnings that you have had in the last 12 months or four quarters, which have been more challenging, and any corrective action plans that you have undertaken from those learnings.
Very clear and should we see this implementation getting populated into order book like you mentioned? First the large deal that you ’re already working on , it slipped…so from Q2 and onwards, the clear mandate would be to first check the order book and it's a ccretion, and then would so the delivery will follow?

Aditya Infotech Limited

Aditya Infotech Limited CC-Aug25.pdf · 2025-08-20
Yes, hi sir. Thank you for the opportunity. Sir, what would be the volumes that we would have sold in this quarter on the total level and would it be possible to divide these volumes in IP and analog cameras?
Sure. And one last question on this STQC implementation which has happened, have you seen the final cameras that were getting imported? I believe on a full year India used to import somewhere around Rs. 5,000 crores worth of cameras from the neighboring countries mainly , have you seen that going down, with the implementation of this STQC?

KEI Industries Limited

Bikaji Foods International Limited

Bikaji Foods International Limited CC-Sep24.pdf · 2024-10-25
My question is on the distribution. If you see the direct reach addition has slowed down significantly over the last few quarters now. We are at 278,000 and we had a target of 350,000 by the year end, which means that for next half, we'll have to accelerate the distribution significantly. So first on how this has decelerated, how it will again accelerate ? And if you can also divide this directly into Focus and Core, what has been the reach for September?
Okay, perfect. I thought it 3.5 was for this year. What is the break up between Focus and Core as of September?
Bikaji Foods International Limited CC-Jun24.pdf · 2024-07-25
Hi, sir. Sir exports we were planning to grow at 20%-25% while it has remain muted. The factory which we are planning to come up with has that been operational and if that so what would be the export target for this whole year?
In case sir there would be some targeted PLI for FY '25 also which is the INR23 crores marketing PLI for exports, does that have any impact in case if we are delay in our sales growth with respect to the export PLI?

Bata India Limited

Bata India Limited CC-Jun24.pdf · 2024-08-08
Yes. Hi, sir. Could you speak about the categories which are working well, which are not working well and why? What are the broader trends that are panning out in your footwear category? Now, we are four years away from the COVID. So there would be some sure large consumption shifts that would have happened. And one clear shift that is witnessing from your research is that sports and athleisure category is for sure looking very promising. So any particular data points or any particular insights you would like to share on a broader category trends would be helpful.
So, the broader three trends which you spoke on, which is sneakerization, casualization, and fashion, what would be our sales contribution coming out from this trend, which is in our favor? And actually, what is driving such strong momentum or such a great acceptance for the consumer in this category? And how are we strategizing to benefit out of this? And on the other side, why formal as a category, which is again, a very large for us, is not picking up, is there some work to be done from our side as a market leader?
Bata India Limited CC-Mar24.pdf · 2024-05-31
Hi. So what are the strategic interventions required in the distribution channel? And despite getting at 39% of the freshness, have we lost any market share in that channel? And what has been the real problem in that channel for us to grow?
And what has been the like-to-like growth in your retail COCO channel, ex-off-franchise, of course? What has been the like-to-like growth for the full year in COCO channel? At least the revenue growth seems to be, again, very muted in this channel too? So if you can highlight, like you highlighted for distribution channel, what are the, again, the strategic interventions required to get the growth pedal back in the COCO channel also?