CEAT · Analyst questions, management answers, and the quality of the response where the ledger is available.
ConCallIQ research layer
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Questions audited
12
Answered directly
75%
Numeric claims
3
Consistency
mixed
Question ledger
Sedartha Barra · Nura
partialWe feel that raw material cost increase in quarter one could be to the unit of 15%. But if you were to take a replacement cost of raw materials today the number could be little higher than 15%. But it I think we should wait and watch beyond quarter 1.
Sedartha Barra · Nura
directWe need to take overall 10% with March out of that in replacement out of that about 5% can be considered as taken already between March and April that leaves a balance of 5% which will be staggered through May and June.
Sedartha Barra · Nura
partialThe volume increase and the value increase can only happen in the second half and not prior to that when Michelin is handling the customer. After market should start happening in the second half of this financial year. Margin will start getting impacted by FY28.
Ragu Nandan · Nuama Institutional Equities
directVolume growth YoY is close to 20%. The growth across the segments have been pretty much uniform, little higher in international business mid-20s and it is about mid-teens to 20s for replacement and OEM.
Ragu Nandan · Nuama Institutional Equities
directThe tariff will be at 10% and the metals part of tracks will be tariffed at 25%. Tax tracks is roughly 50%.
Ragu Nandan · Nuama Institutional Equities
partialMiddle East is about 15 odd% for us. It was practically zero in quarter 4. Quarter one outlook quarter base wise looks good after completely discounting Middle East. So whatever comes from Middle East will be a bonus.
Ragu Nandan · Nuama Institutional Equities
directOur capex would be about 25% more than what we had incurred last year which is about 1,076 was our last year so it should be in the range of 1,350 to 1,400 crores for India. For Camso upstream we had estimated that capex to be around $30 million approximately.
Ragu Nandan · Nuama Institutional Equities
partialThe market is competitive. Price increases are coming through much delayed by some competitors but at different categories at different dates some price increases have definitely come through in the month of March and April.
Mumakesha · Alanati Institutional Equities
directThere was no impact of expected price hike in quarter 1 on quarter 4 sales. The GST decrease momentum that has carried forward from quarter 3 to quarter 4 also. It's a secular demand increase.
Mumakesha · Alanati Institutional Equities
partialOn both side adjustments happen. There is a periodic assessment index wise material index wise and that is how the pricing is adjusted between us and Michelin on both side because we buy compound from them we also sell them the finished good.
Rishi · Kotak Securities
directMRF has taken price increase in all the segments to the best of our knowledge including two wheeler and passenger. About 3 and a half% they have taken roughly.
Rishi · Kotak Securities
partialWe expect moderation in demand but it's not like we don't expect a degrowth in bus radial tire even after a 10% price hike but definitely it will slow down. Replacement demand will be in single digit in truck bus radial.
