Parikshit Kandpal · HDFC Securities
directHave CPCB 4 Plus engine prices corrected since introduction?
We are mostly maintaining those prices as of now, since we launched.
CUMMINSIND / Q2-FY25 / claim-ledger
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Cummins India · Analyst questions, management answers, and the quality of the response where the ledger is available.
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Questions audited
12
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63%
Numeric claims
4
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contradicted
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Parikshit Kandpal · HDFC Securities
evasiveWhat is the price differential vs competition in CPCB 4 Plus?
We are watching the space. Pricing will play out, in our view, in the next few quarters.
Subhadip Mitra · Nuvama
partialWhat percentage of Q2 revenue is CPCB 4 sales?
our power gen number is around INR 896 crores for the quarter. That is power gen and the mix continues to be, in the last quarter, mostly CPCB 4 Plus, some CPCB 2, but mostly CPCB 4 Plus.
Subhadip Mitra · Nuvama
directWas there any CPCB 2 presale benefit in Q2?
No. CPCB presale is all over, and we flushed out all the inventory now. So in this quarter, there is no CPCB 2 presale benefit.
Subhadip Mitra · Nuvama
directIs gross margin impact due to higher imports for CPCB 4?
No, this is largely due to the mix that plays out for us. In this quarter, there is a large share of the project business.
Subhadip Mitra · Nuvama
partialCan current EBITDA margin range continue? Capacity utilization?
From a margin perspective, we've been putting continuous effort... So all of that is ongoing work for us... our capacities are utilized quite well at this point in time, on an average more than 60%-65% utilization.
Subhadip Mitra · Nuvama
declinedWhat percentage of sales is data centers?
Not really. Data centers are spread across... we can't share that segment-specific information.
Umesh Raut · Nomura
directIs gross margin drop due to CPCB 4 cost not passed on?
Thank you for the question, but no, that is not how it is playing out in the gross margin. The gross margin, as I explained, is mostly a function of the mix, really.
Umesh Raut · Nomura
directWhat is the one-off adjustment in employee cost?
There was some one-off adjustment to the cumulative of about 42 plus.
Priyankar Biswas · BNP Paribas
evasiveWhat is channel inventory level for CPCB 4+?
we are at adequate, adequate stock availability in our channel for CPCB 4 Plus.
Priyankar Biswas · BNP Paribas
directBreakdown of power gen and industrial segments?
For high horsepower for the quarter, we saw INR 452 crores of revenue for MHP, INR 178 crores. For LHP, INR 199 crores, and for exports, it was around 68 crores. That's the breakup of power gen. For the industrial business... construction is INR 146 crores, rail INR 105 crores, mining at INR 32 crores, compressor at INR 58 crores.
Vinod Chari · PhillipCapital
partialWhat is market share in data center? Better pricing?
We won't be able to share the market share information... We are always very competitively priced in the market, and data center, as any other segment, also, you know, there's obviously competitive pricing in that space as well. We are priced equally.