Congratulations, sir, once again for the stellar number. Sir, on the Shoolagiri plant, can you indicate how the capacity ramp-up is expected to pan out in future? If possible, can you indicate the investment in CY '25 and '26 and how you see the capacity utilization in '26?
Noted ma'am. On relocation of the clutch line from U.K. to Hosur plant, has this reflected in revenue in Q4? Can you indicate the revenue potential for this clutch line in CY '26?
Congratulations, sir, on strong performance and thank you for the comprehensive insights. Firstly, on Riki, the E-Rickshaw and E-Cart. Can you indicate how has been the initial feedback and current volume? How do you see the potential for FY'27? And also, if you can indicate the target number of cities by end of the year?
Got it, sir. Understood. And would you be also looking at a swappable option?
Good to see the strong performance in the New Energy business. Sir, firstly, on the volume growth for the Lead Acid Battery, can you share some numbers for 4-wheeler, 2-wheeler, how is the OEM replacement export? And also on the industrial side, how much is the growth?
And OEM volume, 30%, this is for 4-wheeler or 2-wheeler?
Congratulations on strong results and festive greetings. Just one question. On Kubota branded tractors can you highlight efforts on improving the local sourcing what would be the current share of local sourcing? And how do you see that ratio increasing next year? And do you know how would that change significantly once the new plant is up and running?
Festive greetings. Sir, continuing on the margin part, so was there any other impact on the margin with reference to commodity costs either in Q2 or expected in Q3? And also, in terms of the margin improvement, localization is a very important trigger. So, if you can share in terms of the greenfield plant, what is the current status? When is the construction work expected to start? Any thoughts on the timeline?
Got it, sir. And any near-term issue, sir, on the commodity cost? Was there any impact?
Congratulations on strong FY '24. So firstly, to Neeraj sir, for FY '25, given a positive outlook for the tractor industry. Within that, how do you see the outlook for various regions? My checks indicate that North, Central and West regions are likely to do better and South is likely to see a decline. Would you agree with this? And would this put Escorts at a favorable position as our strong markets are expected to do better?
And given that these are our strong markets, we should get an advantage here. And also on the new product development in tractors, considering own efforts, Kubota support, what are the focus areas? And can we expect launches in FY '25, any area for any thoughts you can share here?
Congratulations, sir and festive greetings. First question was on premiumization. For our flagship model Jupiter. If you can give us some sense on premiumization because your 125cc model has been doing very well based on channel checks. Within Jupiter, what would be the share of 125cc model? Would it be over 30%?
And one follow-up. You indicated that in future, the tailwind of pay commission will also be positive for industry. Roughly, what would be the share of government employees in 2-wheeler industry sales?
Congratulations on the 11.9% margin. Sir, firstly, on the margin side, you have been doing very well over last few years. And going forward, material cost reduction, premiumization, even the geography mix improvement, all these are triggers. If you can talk about efforts in this regard and how see the benefits to flow through in future?
Got it, sir. Sir, in terms of demand outlook, how do you see domestic market in FY '26, given that we have not yet reached the previous peak? So -- and rural is also doing well, how would you see the industry growth panning out?
Sir, the FY '25 expected to be a healthy growth year in domestic market. I wanted to get a little more sense on the rural side. How do you see the rural recovery to pan out? And how would that help the entry-level segment where you have products like the S tar City is? Would you expect that segment on a low base to see a similar growth compared to industry? Or would you still feel that scooters and premium executive motorcycles will do better than the overall industry growth?
And roughly how big would be the rural portion?
Thank you, sir for the opportunity. Congratulations on strong margin performance. Sir, my first question was on the raw material cost. In opening comments, you indicated that RM Q-o-Q basis or gross margin Q -o-Q basis has improved by 90 basis points. Out of that 60 was one off. So, remaining 30 would be largely from commodity and forex benefit. Would that be right understanding. And also, because recently non-ferrous there was some increase, do you see any commodity price increase happening for Q2 FY25?
Got it sir. And going forward, do you see any negative impact?
Couple of questions Sir. First, the first-time buyer’s share has reduced to ~40% from pre COVID levels of ~50%. What is your outlook on triggers for first time buyer demand recovery? And do you see any trends which can trigger this recovery?
Got it sir. And my second question is on the order book. You still have a lot of pending orders for CNG automatic vehicles. How are you trying to address these supply constraints?
Thank you sir for the opportunity. Sir on the export side growth you indicated in double digits. Would it be over 20% on a Y-o-Y basis? Also then you said that region wise LATAM, Europe and U S are doing well and U S would progressively do well. If you can elaborate which categories are doing well and US in terms of entry into TBR and PCR, if you can provide some details on how that progress is happening and finally, for FY '25 would it be fair to assume that double-digit growth will continue?
My question was again on EPR. Sir, can you please explain the computation because -- when I look at your last 2-3 years, 2 years of calculation, it comes to 1.5% of domestic sales in FY '23 for 35% 2 years ago and 1.4% for FY '24and for '25, you've given a range of 1.2% to 1.4%. One of your peer who also reported results today for them, the math works out to something like 0.8% to 0.9%. So as per the ETR document, it was showing that the calculation is based on weight into conversion factor into quantity. So how do we try and arrive at this number? How is the competition done?
Just supplementing on EPR, would you need to use more recycled inputs as raw materials? Will this lead to increase in RM cost?