Amyn Pirani · JP Morgan
directWhy is interest cost not declining despite deleveraging?
The India interest cost has gone up mainly on account of working capital borrowings... a temporary measure.
APOLLOTYRE / Q3-FY25 / claim-ledger
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Questions audited
12
Answered directly
83%
Numeric claims
4
Consistency
mixed
Question ledger
What was answered, and how?
Amyn Pirani · JP Morgan
partialWill gross margin improve QoQ with flattish RM and price hikes?
Q4 to Q3, we expect it to be flattish, and to that extent, some rollover impact of price increases should play a little bit into the gross margins.
Amyn Pirani · JP Morgan
directAny price hikes recently done or planned?
Currently, given the market situation... absolute near-term, no price increase is planned.
Siddhartha Bera · Nomura
directWhat is volume growth across replacement, OE, and exports?
The volume growth overall for replacement this quarter was 5%, and OE was almost -10%. Exports was flattish.
Siddhartha Bera · Nomura
partialWhy did export growth slow down compared to peers?
One is the particular segments or the markets where we were addressing... demand has been weak... also impacted by strong fluctuations in logistics cost... we are looking into that.
Siddhartha Bera · Nomura
directAny new markets like US being added for exports?
We are looking at U.S. as a net growth market... Middle East, specifically in Saudi Arabia.
Siddhartha Bera · Nomura
directWhat are CapEx and gross debt for nine months?
CapEx for India for the first nine months is INR 350 crores. Gross debt is INR 3,200 crores for India. Consolidated CapEx about INR 500 crores, gross debt about INR 3,500 crores.
Siddhartha Bera · Nomura
directWill full-year CapEx be lower than INR 1,000 crore guidance?
There would probably be some moderation. It is highly unlikely that we'll spend INR 500 crores in the last quarter.
Siddhartha Bera · Nomura
directWhat are Reifen.com revenue and EBITDA margin?
Reifen.com operations did EUR 88 million in revenue with a +7% in EBITDA margin.
Mumuksh Mandlesha · Anand Rathi Shares and Stock Brokers Ltd
partialWhy did India standalone gross margin contract 300 bps QoQ?
Some part of it is due to the inventory getting consumed... the IR team can walk you through in detail.
Mumuksh Mandlesha · Anand Rathi Shares and Stock Brokers Ltd
directWhat is the RM basket cost for Q3?
RM was roughly about INR 175 a kg, up 15% vis-à-vis the same quarter last year, but sequentially up 2%.
Jinesh Gandhi · Oaklanecapital
partialHow is Apollo balancing market share vs margins in India?
It's not just a clear black and white... The priority to profitability margins will continue to be there... we are addressing that issue in terms of not lagging behind on growth either.