Just on the CRB, SRB plant, right? Now incrementally going into FY27, how should we think about the ramp-up of this plant, like we ended at INR80 crores. Our target was to exit at 40%, 45% utilization levels. So, which would not have happened, but how should we look at going into FY27? Are we seeing good traction in that facility?
And sir, the peak revenue would be INR1,000 crores?
I just have a follow-up again on this gross margins, right? Even if I look at it from a sequential basis, the cost of credit goods has gone up significantly. So is there any change in the traded goods agreement with the parent, some tariff impact, which we are bearing? Anything of that sort has happened on a sequential basis or on a Y -o-Y basis, which explains such a sharp drop in gross margins?
Understood. And my second question is just pertaining to when we are importing the finished goods from USA, do we pay any duty at this point in time? And if U.S. and India deal happens and if that duty comes down to 0%, then is there something -- some benefit which we could accrue once that happens?
Congratulations on a decent set of numbers. My first question is pertaining to India business. Over the last couple of quarters, our top-line growth has been, let's say, on a blended basis, very similar to how the industry has been doing. And earlier, we had guided that at least there is an intention to outpace the industry growth anywhere between 3 to 5 percentage points. So at least where are we in this journey? Are there any new orders which you are foreseeing -- which you are expecting, let's say, to grow in the coming quarters, which will help the company at least outpace the industry growth? Because last 2, 3 quarters also has been supported by the industry t ailwind owing to GST cut. But at least what is company doing to make sure that even when the industry growth moderates, we will at least outpace that growth number?
Understood. And just in your opening remarks, you mentioned that export was impacted because of the geopolitical tensions. At least can you give us some color on what are -- which are our end markets over here? My sense it would be Europe and maybe neighboring countries, right?
Thank you for the opportunity. My first question is regarding the Export 3 -wheeler business, which has been doing quite well over the last couple of quarters. Can you give us some colour on which geographies are driving that growth? And how should we think about it going into FY'27?
Sir, any top 5 countries or top 3 countries you could share their names?
My first question is just a clarification on SMG amalgamation. You have said that we have amalgamated effective from 1st April, but I'm also seeing previous year's third quarter numbers are also being restated. So, what is the reason for that? Page | 11
Okay. So that is also a like-for-like SMG amalgamated number?
Thank you for the opportunity. Just first on the EV launch. So, when are we going to export the product? Is it this month or is it within the next two months?
So, it does not happen in the month of July. Right?
Thank you for the opportunity and congrats on good set of numbers. My first question is, in the presentation, you have highlighted that the defence assets have been transferred to KSSL. So, was there any impact on the standalone revenues on account of this or the revenue booking remain the same?
Understood. But the ATAGs would be a part of standalone?
Firstly, just on the quarter, on a sequential basis, we have seen a sharp increase in gross margins. So what has led to such an expansion? And because you highlighted that OEMs have done well. So assuming that, that would be margin dilutive at gross level. So what has happened over there? And can you also comment on the antimony prices where it is? And how do you expect it to trend in the coming quarters?
So next quarter, we should see some inflation on account of higher lead procurement cost?
A couple of questions from my end. First is on the replacement market, automotive replacement, we are seeing a double-digit growth. So ideally, what is driving such a high growth in this segment? Because traditionally, I think this segment generally grows at a mid- to high single- digit volume CAGR. So why we are seeing such a strong growth? Are we seeing some market share gains? Or is there any other factors?
Understood. But sir, as per your assessment in the past, how would the replacement market would have grown for the industry, maybe not for Amara Raja, but for the industry? Like what would have been the ballpark growth rates in the past for the automotive segment?
My first question is just a clarification. On the replacement segment, the GST rate on bearings was always at 18%, right? So over there, there is no change?
Understood. And just secondly, on the e-axle side, can you give us some indication on where is the localization today, which of the components we have already localized and any part towards achieving higher localization? We'll be looking at the volumes, but any other factor at play, which you'll be considering in improving the localization of that segment?
Just first, one clarification on the CAPEX numbers, which has been guided by the parent. Does it also include the Vitesco India's CAPEX as well for the e -mobility solutions or the CAPEX number which the parent has stated is going to be done by Schaeffler India only?
So, this number is specific for Schaeffler India entity. Understood. And secondly, on the quarterly numbers, just on the Industrial segment, if you could give us some color on how the trends have been, especially across railways, wind and other raw materials related industries where we have seen growth and where the growth rates have been slightly moderate?
Yes. Sir, just one question from my side. On this EUDR regulations, is there any impact which you could quantify for this quarter? I remember when a couple of quarters back, you had highlighted that the procurement cost of natural rubber will go up by 10%. So that's the ballpark number, which we should work with?
Okay. But the procurement cost would be around 10% higher than whatever the spot price is for the natural rubber or...
Sir, my first question is on the realized forex losses. So you highlighted that our hedge rate was INR93.6 for the quarter, Euro-INR, but the full quarter average was around INR97. So why is our losses lesser for the quarter? Can you just explain that math on how it works? How do we hedge -- like what is our hedging policy? Do we hedge 100% of our first year exposure? Or is it like 50%, 60%, 70%? Ravi Joshi Rishi, so it will not be prudent to compare the normal average with what hedge rate was mentioned. It also accounts for the timing differences, wherein the PCFC was taken earlier, then there was a realization or repayment against that as well as the sales was booked at a different rate in the books. And then the debtor realization happens at a different rate. So it will not be prudent and probably you will not be end up doing the right math that taking an average of a quarter and then comparing it with what we realized.
The second quarter will be more reflective of this quarter's spot rate?
Congratulations on good results. Sir, can you just elaborate on this EU Deforestation Regulation? Like currently where we are sourcing our natural rubber from? And what would be the implication, if any? Will our cost go up or it's just a regulatory thing which we need to comply to?
So that would happen from any quantification today would you like to give or maybe at a later point?
Congratulations team for a great set of numbers. My first question is regarding the quarter itself. On a sequential basis, excluding other operating in come, our ASPs have gone up by almost 4.4%. So, can you just give us what were the driver s of this? It was just mix or something else was also contributing to such a sharp increase on a sequential basis?
Yes, and a second question just on the industry side. The hatchback segment as well as the Sedan segment for us, as well as for the industry has been in a consistent downtrend. So, I just wanted to get a sense from the management on what will change this and when should we expect some recovery, some bounce back from these two segments?
My first question is, well, the premiumization wave the team has captured very well. But if we look at first half numbers, most of our growth is only driven by Creta. Obviously, Exter has grown, but in 1Q of FY '24, we hadn't launched the model. So , is there a strategy where we are thinking about reducing our dependence on Creta , because incrementally of our domestic portfolio I think it has almost become 33% and in value terms it would be even higher. So, any thought process around our increasing dependence on Creta?
My second question is regarding 2Q performance. So, on a sequential basis, our gross margins have declined by 70 basis points. So, what would have resulted in a decline? And if you could share first quarter and second quarter discount numbers, if you check that would be helpful?
Yes. Hi, sir. Thank you for the opportunity. Just one small question. What was the CAPEX guidance for this year FY26 and even if you could give it for FY27?
Okay. So most likely we should do around Rs.1,000 crores including land acquisition approx.?
Hi. Thank you for the opportunity. My first question is just a clarification. Bhavish, you made a comment that by early next year, you expect the Gigafactory production to reach 5 gigawatt-hour, right? Is that correct?
So essentially, what you are implying is that, you know, we'll roughly produce around one and a half million vehicles. And if you look at current run rate, you know, we are, let's say, roughly around 400,000-500,000 vehicles. So what you're implying is, we'll 3X our volumes in one year?
Yes, hello, sir. Congratulations for good set of numbers. Just one clarification on the share of JV, you said that because of export Q-on-Q got consolidated, there was an impact on JV. So, incrementally on revenues on a Y-o-Y basis, what would be the impact on revenues and EBITDA if you could share that number?
And EBITDA contribution would be similar?
Congratulations on good set of numbers. Just one question from my end, sir. As we progress ahead, how are we seeing demand trends on ground as you will be receiving production schedules, especially across domestic 2 -wheeler and 4 -wheeler? And what is your take going forward in terms of how do you think the demand trends will play out? That's it.