{"id":176073,"date":"2026-01-22T13:56:10","date_gmt":"2026-01-22T18:56:10","guid":{"rendered":"https:\/\/alphastreet.com\/india\/action-construction-equipment-limited-ace-q3-2025-earnings-call-transcript\/"},"modified":"2026-01-22T13:56:10","modified_gmt":"2026-01-22T18:56:10","slug":"action-construction-equipment-limited-ace-q3-2025-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/action-construction-equipment-limited-ace-q3-2025-earnings-call-transcript\/","title":{"rendered":"Action Construction Equipment Limited (ACE) Q3 2025 Earnings Call Transcript"},"content":{"rendered":"

Action Construction Equipment Limited (NSE: ACE) Q3 2025 Earnings Call dated Feb. 10, 2025<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Vyom Agarwal<\/strong> \u2014 President<\/em><\/p>\n

Rajan Luthra<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Chinmay Kabra<\/strong> \u2014 Analyst<\/em><\/p>\n

Rohan Mehta<\/strong> \u2014 Analyst<\/em><\/p>\n

Garvit Goyal<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Mudit Bhandari<\/strong> \u2014 Analyst<\/em><\/p>\n

Aman Soni<\/strong> \u2014 Analyst<\/em><\/p>\n

Vijay Pandey<\/strong> \u2014 Analyst<\/em><\/p>\n

Shaleen Seth<\/strong> \u2014 Analyst<\/em><\/p>\n

Vishal<\/strong> \u2014 Analyst<\/em><\/p>\n

Keval Shah<\/strong> \u2014 Analyst<\/em><\/p>\n

Ravindra<\/strong> \u2014 Analyst<\/em><\/p>\n

Nirmal<\/strong> \u2014 Analyst<\/em><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to Action Construction Equipment Limited Conference Call hosted by Emkay Global Financial Services. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star 0 on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr Chinmei from Emkay Global Financial Services. Thank you, and over to you, Mr.<\/p>\n

Chinmay Kabra<\/strong> \u2014 Analyst<\/em><\/p>\n

Good evening, everyone. On behalf of Emkay Global Financial Services, we are pleased to invite you to the Q3 FY ’25 earnings call of Action Construction Equipment. I would like to welcome the management and thank them for this opportunity. We have with us today Mr Rajan Lutra, Chief Financial Officer; and Mr Agarwal, President. I shall now hand over the call to the management for their opening remarks. Over to you, sir.<\/p>\n

Vyom Agarwal<\/strong> \u2014 President<\/em><\/p>\n

Thank you,. Good afternoon, everyone, and welcome to this earnings conference call for discussing the results for the quarter and nine months ended 31st December 2024. We take this opportunity to wish all of you a fabulous New Year with good health and happiness. Unfortunately, our Executive Director, Mr Saurabh is under the weather and down with seasonal flu. Hence he could not join the call today. Along with me in today’s earnings call, we have our CFO, Mr Rajan Lutra. We hope that all of you have had an opportunity to look at the company’s financial statements and the earnings presentations which have been circulated and uploaded at the stock exchanges. With continued focus on customer-centricity, execution and agility in operations, we have set is on the course of a predictable and sustained high-performance trajectory. And today we have the opportunity to highlight our execution rigor through our best-ever performance in the quarter gone by. Further, in the recently-announced union budget of FY ’26, the Government of India has sustained its infra focus with their capex spending estimated to remain above 3% of the GDP for the third consecutive year. Productive capex to create infra assets is crucial for amplifying productivity, which will further fuel economic growth, enhance global competitiveness and accelerate our inventory situation in the country. Now to brief you on the financial performance for the 3rd-quarter of FY ’25, on a standalone basis, operational revenue grew by 15.93% on a Y-on-Y basis from INR753.15 crores to INR873.1 crores, which is our best-ever quarterly revenue so-far. The EBITDA margins of the company grew by 27.4% to INR160.38 crores as against INR125.89 crores in the corresponding quarter last year. The EBITDA margins expanded by 154 basis-points to 17.76%. The PBT grew by 26.49% to INR144.93 crores against INR114.58 crores and stood at 16.05%. The PAT grew by 21.05% to INR107.15 crores against INR88.52 crores and stood at 11.87%. The PBT and PAT margins expanded by 129 and 46 basis-points, respectively on a year-on-year basis. We are delighted to share that these are our best-ever quarterly revenues, EBITDA, PBT and PAT numbers in the history of our company. For the nine months ended FY ’25, the operational revenue grew by 13.75% as compared to a similar period of last year and stood at INR2,361.07 crores with EBITDA of INR428.07 crores, which is a 30% growth. Our PBT grew by 27.37% to INR382.61 crores. The PAT stood at INR285 crores, which grew by 24.29% on a Y-on-Y basis. The EBITDA margins expanded by 202 basis-points to 17.46%. PBT expanded by 151 basis-points to 15.60% and PAT margins expanded by 86 basis-points to 11.63%. Now let me give you a sequential perspective. For the 3rd-quarter of FY ’25, the operational revenues grew by 15.74% on a quarter-on-quarter basis. The EBITDA grew by 12.79%, PBT increased by 14.79% and PAT during the quarter grew by 13.54%. The company sustained its growth momentum across all operating segments during the quarter gone by. In the Cranes Material Handling and Construction Equipment segment, we have registered revenue growth of 15.19% year-on-year to INR795.73 crores. The margins also expanded by 375 basis-points year-on-year to INR154.38 crores vis-a-vis INR108.1 crore, thereby registering a growth of 42.81% year-on-year. The company recorded sales of 3,539 units in the quarter, which is up by almost 18% year-on-year. The agri segment clocked a revenue growth of 24% at INR77 crores, while maintaining margins at 4.73%. Going-forward, with adequate water reservoir levels and government focus on agri productivity, the company expects the farm mechanization needs to continue creating demand momentum in the agri space. Our consistent long, strong all-round performance is a testimony to our strategic clarity, strength of our brand, our capabilities, our execution skills along with the agility in running the business and most importantly, the determination and passion of our talented and purpose-driven team members. On the operational side, the growth momentum in India continues to be strong and the recent repo rate cut by RBI will provide further relief to the borrowers. The global economy remains uncertain and the recent tariff war has heightened the geopolitical risks further. India remains a bright spot amidst the global economy with a real GDP growth for next financial year projected at 6.7%. The risks are evenly balanced. Commodity prices, especially steel, remained stable in the quarter gone by and the consumer sentiment remains healthy. As discussed during the last con-call, our capex plans are on-target and the ongoing expansion will bring our total capacity to approximately INR5,000 crores by the end of Q4 of this year. With this enhanced capacity, the company remains optimistic about the medium to long-term prospects and remain focused to deliver on its sustainable growth agenda. Further, our Honorable Finance Minister has presented the Union Budget ’25-26, which set-out realistic and inclusive vision for the nation. A mix of judicious and bold policy moves, while maintaining fiscal discipline lays down a strong foundation of our Vixit Bharat. The share of capital expenditure outlay in total budget has been stepped-up to 22.1% in FY ’26 from 15.6% in FY ’22. The government is focused on infrastructure, manufacturing, power, logistics and housing sector development, which augurs well for our company. Going ahead, with our capacities built-up, we are well-prepared, future-ready and remain optimistic about the prospects of the company in medium-to-long term. Also, we would like to reiterate our guidance of around 16% plus growth in Cranes, Material Handling and Construction Equipment segment for the current year and expect agri segment to remain flattish during this year. On the whole, we are looking at a growth of around 15% plus with a stability in EBITDA margins at current levels. With this, I would like to open the call for question-and-answers. Thank you.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

Thank you. We will now begin the question-and-answer session. Anyone who wishes to ask a question may press star and one on your touchstone telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we’ll wait for a moment while the question queue assembles. The first question comes from the line of Rohan Mehta with Fecom Family Office. Please go-ahead.<\/p>\n

Rohan Mehta<\/strong><\/p>\n

Hi, am I audible?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah. Hi, everyone. You’re audible.<\/p>\n

Rohan Mehta<\/strong><\/p>\n

Thank you so much for taking my question, sir. So I want to know what is the current duty structure for cranes below 100 mt? And if in case there are any, what are your expectations going-forward with respect to any changes in it?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

I’m sorry, Rohan, the line was a little disturbed. Can you please again?<\/p>\n

Rohan Mehta<\/strong><\/p>\n

Yes, sir. Yes, yes. So I wanted to know — yeah, yeah. I wanted to know the current duty structure for cranes below 100 empty and what are your expectations regarding any changes going-forward? See, basically, I understand you are talking about custom duty.<\/p>\n

Rajan Luthra<\/strong><\/p>\n

Yeah. See, right now the custom — basic custom duty on a import of fully finished product grains or is 7.5%. And as we have mentioned in the last con-call also that there has been a lot of dumping of these products by the Chinese company in India, especially the heavy cranes related to crane or cranes are having capacity of more than 40 ton and above. So we have the government of India has already since initiated an inquiry against to find out whether the Chinese players are dumping their of India or not, they are already in advanced-stage and we are also partly to helping the government in that investigation. And it is already gone for investigation and they have been summoned to give their — give their costings and all those things. We are expecting a favorable reply somewhere in the, you can say probably March-end or mid of April, but in which we expect the government will be putting anti-dumping duties on those products<\/p>\n

Rohan Mehta<\/strong><\/p>\n

Got it, got it. Got it. And one final question. How do you assess the current demand environment for your products? Essentially, are you seeing any sort of a slowdown in the demand for creams.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah,. So the current scenario — the demand scenario remains quite healthy, as I’ve mentioned in the address. India is in a very bright spot and with the current budget, we have seen that government has reiterated their stand-on infra, allocating more than 3% of the entire GDP and especially you know the reforms which are coming in the housing sector with, Avas, Yojina coming in and more-and-more the reach going to the rural areas along with water and sanitation facilities getting upgraded. So the whole urban infra space is getting revamped and the demand scenario remains healthy on the infra side. But most importantly, apart from infra, the kind of products that we make are also very widely used in the manufacturing industry. So we believe that the certain steps which have been taken that will revive the private capex also going-forward and our equipments are used wherever there is lifting and shifting. So whether it is logistics, whether it is manufacturing or infra, we believe that we are in a very good shape going ahead. And the demand scenario definitely remains healthy at the ground level.<\/p>\n

Rohan Mehta<\/strong><\/p>\n

Sure, got it. Got it. Thank you so much, sir. That is all from my side.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Thank you. A reminder to all the participants that you may press star and one to ask a question. Next question comes from the line of C.A. Garvit Goel with Analytics Advisory LLP. Please go-ahead.<\/p>\n

Garvit Goyal<\/strong><\/p>\n

Hello. Am I audible?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah. Hi, good afternoon.<\/p>\n

Garvit Goyal<\/strong><\/p>\n

Congrats for a decent set of numbers. I want to understand on our exports. While we understand domestic demand is there driven by infra manufacturing and real-estate, but considering the geopolitical tensions and expected trade war, do you see any risk to our internal target because I think while giving the medium-term guidance, we are accounting for exports in a decent manner. So can you put some color on that like how exports are going to shape up from here?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah. So definitely, you know, going back a few quarters, we had set our targets for the export and the defense business to reach somewhere around 15% to 20% of our overall this thing. So this was made as a conscious effort to move the company towards a countercyclical domain. And we are very much on-target there. However, in this year because of you know for various factors, whether it was sea freight, whether it was geopolitical issues going on and now the recent tariff things. This year exports have been slightly sticky and last year, however, we were able to close at around 8%. This year it will be slightly less than that. But from medium to long-term perspective, I think 15% to 20% coming from defense and exports seems very much on-track for us.<\/p>\n

Garvit Goyal<\/strong><\/p>\n

Looking at the current environment, so do you see the situations is going — situations are going to improve in FY ’26 as far as the exports are concerned.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yes, we are very hopeful that it should happen and in fact, we are very confident that it should happen because it seems to be a very, you know, temporary phenomena. And moreover, come January ’25, the revised emission norms, which is CEV5 norms have also kicked-in. So once you know we have started manufacturing these cranes and cranes and other equipment as well apart from agri, they are migrated to CEV5. And now we can think about taking these equipment to be mainland Europe as well as America. So this I believe in FY ’26, the situation will further improve. And as I said that in the medium-term going from 15% to 20% from export and defense seems very much achievable.<\/p>\n

Garvit Goyal<\/strong><\/p>\n

Understood. And sir, like half of Q4 has already gone. So looking at the current environment, where do you see like FY ’24 or ’25 ending up from here in the terms of top-line, sir?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Okay. So again, in the address, we have already reiterated our guidance. In fact, so we are looking at around 16% plus growth in Cranes, material handling and Construction Equipment segment, agri to remain flattish. And overall, we are looking at a 15% to a little ahead from that with stability in EBITDA margins.<\/p>\n

Garvit Goyal<\/strong><\/p>\n

In agri segment, earlier quarter, I think we were guiding for some growth, right? Or I’m wrong?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah. So actually, if you see, we have done well in agri when it comes to last quarter, but you know, the first-quarter of this year was quite slow compared year-on-year because there was a base effect of a big export order, which we were executing last year Q1. So we are still to catch-up with that and hopefully we can grow in agri, but for the time-being, we are saying that we would remain flattish. That time will tell if we can — we can grow in area.<\/p>\n

Garvit Goyal<\/strong><\/p>\n

And the guidance of doubling our total line of FY ’23 in FY ’26, that is intact, right?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yes. So we said that whatever we had achieved in FY ’23, we are going to double that by FY ’26. More or less, that’s the medium-term guidance and we are sticking to that as of now.<\/p>\n

Garvit Goyal<\/strong><\/p>\n

Understood, sir. That’s it from my side, sir. All the best for the future.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Thank you so much,.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question comes from the line of Raj Mika with Aureka Enterprises. Please go-ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Congratulations on a good quarter. I have a few questions. This quarter has been heavily influenced by pre-buying. To that extent demand will be slacker in the future. Also in the latest budget, the government has reduced capex expenditures from INR11.5 lakh crores to INR11.2 lakh crores. That is a negative for us. So how do you see demand going-forward in the next 12 months? And how has demand behaved in this particular quarter-four? We are already halfway through the quarter. That is why I’m asking. So how has demand behaved in this quarter and how do you see demand going-forward in the next 12 months?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Thank you, sir, for the appreciation for the numbers. And as I’ve said that the demand on-the-ground remains healthy. As far as to answer your pre-buying thing, if we see a Q3 year-on-year for cranes, material handling and construction equipment, we have delivered a growth of around 18% in terms of volume. And for agricultural Equipment, we have delivered a growth of 24.36%. On a blended basis, our volumes have grown by 19%. And on a Nine-Month comparison, our blended volume growth has been close to 10.5%. So we would — there is no reason to believe that this growth will not continue in the future. Going ahead, these numbers can even better from where they are. And going on to the budget thing, see, government is very much focused on developing infra for which they have allocated a reasonable amount of capital, which is in excess of 3% and they have been doing it for the last three consecutive years. And there is another metrix to look at it. Now the share of capital expenditure outlay in the total budget, that has stepped-up from FY ’22, it was around 15% and to FY ’26, it has gone up to 22%. So this spending is going to hit the markets, I mean, to hit the ground. And at the same time, because of last year, the government came out with revised numbers because the spending target could not have achieved because in the first-quarter, we had the general election thing. So now with everything off the back, the spending is going to continue from here and it gives us real confidence that going ahead, our growth trajectory will be sustained. And the private capex is also going to pick-up with the announcements in the budget, I believe that the consumer sector is also going to benefit quite a bit from there. And with manufacturing segment picking-up, I believe that the growth story is here and with the kind of portfolio that we have, the cranes, the folklifts, warehousing equipment, they will show and continue to improve on their growth trajectory going ahead. Now with respect to this pre-buying thing, see, it is very difficult to pinpoint the reason for the growth in Q3, was it because of the festive demand? Was it because of the pre-buying or was it because of the pent-up spending that hit the markets post-monsoon season? So we would like to believe that the demand scenario is very much in-place and quite healthy on-the-ground.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Participant, please rejoin the queue for more questions. Next question comes from the line of Mudit with IIFL Capital. Please go-ahead.<\/p>\n

Mudit Bhandari<\/strong><\/p>\n

Hi, sir. Congratulations on a very good set of numbers.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Sorry, good afternoon. Thank you,. Can you be a little louder, please?<\/p>\n

Mudit Bhandari<\/strong><\/p>\n

Yeah. Yeah. So am I audible now?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah. Thank you.<\/p>\n

Mudit Bhandari<\/strong><\/p>\n

Yeah. So if you see your gross margin, so your gross margins has itself expended if you see both Y-o-Y and Q-o-Q and almost that has flowed into your EBITDA margin. So in your commentary, you mentioned that steel prices have almost remained stable. And if you look derived blended realization, it has slightly fallen if you see on Q-o-Q basis. So what has led to this gross margin expansion?<\/p>\n

Rajan Luthra<\/strong><\/p>\n

See, basically, these are — margins are expanded because of a number of factors. One is the product mix. If you talk about over net realization has been come down because this quarter we had a volumes of smaller grains, 14 tons, 15 tons are much more because of shifting from BSP to BS5 norms that was — that has slightly pulled down the average price consideration overall. But because of cost efficiencies and the operating leverage and other factors, the cost reductions and what we have done and value engineering, et-cetera. So that has contributed to the increase in the gross margins. Yeah.<\/p>\n

Mudit Bhandari<\/strong><\/p>\n

Okay. So — but if you see with the percentage increase in gross margin that has not completely flowed into EBITDA margin excluding other income if you see. So is there has been some expenses one-off or<\/p>\n

Rajan Luthra<\/strong><\/p>\n

Yeah, there were some expenses and one-off expenses will be in the current quarter because normally the 3rd-quarter is slightly on that on the higher side because of Diwali and other factors. Yeah<\/p>\n

Mudit Bhandari<\/strong><\/p>\n

Okay, okay, got it. And any update on CATO JV, so going on-track and any progress upon that?<\/p>\n

Rajan Luthra<\/strong><\/p>\n

See, the — that is going on the right track as we mentioned in the previous calls also that this has been some delay on account of some unavoidable circumstances, which we are — for which will be beneficial towards for the company in the long-run. So that has been delayed. But the negotiations and the — that process is already on, probably that may we will be able to complete either by March or you can say — or it may spill-over to next quarter, but I’m sure it will not spill-over the second-quarter of this FY ’26, but probably it will be concluded in the coming — this quarter or mid of next quarter maximum. Yeah.<\/p>\n

Mudit Bhandari<\/strong><\/p>\n

So revenues will start flowing into from second-half of FY ’26.<\/p>\n

Rajan Luthra<\/strong><\/p>\n

Yeah, definitely.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Here Mujit, I would like to just add a little bit that we intend to start the production in this JV by, let’s say, Q3 FY ’26 or maybe Q4 FY ’26. So somewhere those lines — these timelines are similar to what we had mentioned in the last con-call. So things are on-track with respect to that. The full steam production will happen in FY ’27.<\/p>\n

Mudit Bhandari<\/strong><\/p>\n

Okay, got it.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Some revenue which can be recognized in next financial year, maybe two, three months there, that time will tell, but FY ’27 should be a full steam revenue.<\/p>\n

Mudit Bhandari<\/strong><\/p>\n

Okay, got it. That’s all from my side.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question comes from the line of Aman Soni with Analyticals Advisory LLP. Please go-ahead.<\/p>\n

Aman Soni<\/strong><\/p>\n

Hello.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah, hi.<\/p>\n

Aman Soni<\/strong><\/p>\n

What is the margin guidance for Q4 and FY ’26.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Sorry, Aman, can you please repeat that? You didn’t catch.<\/p>\n

Aman Soni<\/strong><\/p>\n

Margin guidance — EBITDA margin guidance for FY ’26 and Q4 FY ’25.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

So we would like to have a little bit of stability in the current EBITDA margins. Of course, there is a scope because of operating leverage and pricing actions. There is a scope of a little bit of expansion also. But as of now, we would like to guide that the EBITDA margins will remain stable at the current levels.<\/p>\n

Aman Soni<\/strong><\/p>\n

And when we say current levels, it is Q3, current quarter level, right?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yes,<\/p>\n

Rajan Luthra<\/strong><\/p>\n

That’s right.<\/p>\n

Aman Soni<\/strong><\/p>\n

Okay.<\/p>\n

Operator<\/strong><\/p>\n

MR. Sonip, are you done with your questions?<\/p>\n

Aman Soni<\/strong><\/p>\n

Yes.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all the participants that you may press star and one to ask a question. Next question comes from the line of Vijay Pande with Nuvama. Please go-ahead.<\/p>\n

Vijay Pandey<\/strong><\/p>\n

Hi sir. Thank you for taking my questions and congratulations for a good set of numbers. Sir, I wanted to check with you what are the main export markets are you targeting? Is it North-America, Europe and in Europe which may countries? That would be my first question.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah. So basically we are exporting to countries like Latin-America, some of the sea else countries, some African countries and of course, Southeast Asia and Middle-East. So that is the segment where we are currently exporting. Mainland, North-America and Mainland Europe, as I mentioned that there is an emission gap. Now come January in the current quarter only, India has migrated to CEV5 norms. Now our machines are at par and can be sold-in these nations. So once we get our machine certified, we will definitely be opening our territories there. But as of now, we develop Mainland Europe and mainland America, we do not have it. But having said that, we have started doing our groundwork there.<\/p>\n

Vijay Pandey<\/strong><\/p>\n

Okay. Okay. That’s helpful. And secondly, sir, I mean, in the 3rd-quarter, I see that there has been big jump-in other expenses of around 18 or INR19 crores. So if you can help me understand where-is that difference coming from? That will be very helpful.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

So I think can take this question in a little bit more detail. But as we have just mentioned that traditionally Q3 we have a little bit more expenses, which happens on account of the festive season, but this was right.<\/p>\n

Rajan Luthra<\/strong><\/p>\n

As already explained in the previous question that 3rd-quarter we actually now have dealer meat and festive comes into picture and what we start planning for the next year also in the 3rd-quarter. So that is what I, but I think going-forward it will not — it will normalize and will be in-line with the last quarter only.<\/p>\n

Vijay Pandey<\/strong><\/p>\n

Okay. Okay. Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question comes from the line of CA Garvit Goyal with MS Analytics Advisory LLP. Please go-ahead.<\/p>\n

Garvit Goyal<\/strong><\/p>\n

Sir, can you give us an update on the e-cranes, like what is the — what is the kind of development happening at that side, like is it — is it going to contribute significantly in the upcoming year or where-is the status now?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Okay. So Garvit, if I got the question correctly, you’re talking about the electric trains, right?<\/p>\n

Garvit Goyal<\/strong><\/p>\n

Yes, sir. Yes, sir. Electric rains only.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah. So as you are aware that we are already ready with the product and we are awaiting the CMVR guidelines, which is pending some final paperwork. So once that is through, I think we’ll be able to take our machines to the markets for that. And as far as the enthusiasm in the customers space goes, they are pretty excited about this product. Some of the big companies who are particularly, you know, bothered about the ESG scores, they have given us a very encouraging review of these. And apart from that, there are lot of manufacturing sectors which would need a crane which does not run on internal combustion engine. So the feelers from the market space and the customers are very, very encouraging. As soon as we have the CMVR guidelines, I think we’ll be good to go. So this space is very much active here. As of now, we have sold a few numbers in areas where there is no registration required. So for example, if the train is running in a — in a closed territory, there is no registration required. So in those segments, some very few single-digit numbers have gone and the customers are pretty happy with the results.<\/p>\n

Garvit Goyal<\/strong><\/p>\n

And sir, who are the other players in India doing the same like electric cranes and how big the market size is.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

So as of now, I think we are the only ones who have the electric mobile crane. In fact, we are the first-in India to launch a fully electric construction equipment. That’s the reason I believe the government was also not ready with the exact CMBR guidelines because these are different when it comes to vehicles and passenger cars, the construction equipment follows a different path. So we are the only ones who have it. And as I said, the market size, as of now, it is very difficult the whole crane market size is open, but how much of the customers can migrate that time will tell.<\/p>\n

Garvit Goyal<\/strong><\/p>\n

Understood, sir. Thank you very much, sir.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question comes from the line of Seth with Seer Funds Management Private Limited. Please go-ahead.<\/p>\n

Shaleen Seth<\/strong><\/p>\n

Hi, team. Thank you for taking my question. I have two questions.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Good afternoon.<\/p>\n

Shaleen Seth<\/strong><\/p>\n

I have two questions. First is on the capex. Do you — can you put some color on the capex for this year and next year?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah. So you know in Nine-Month FY ’25, we have done a capex of close to INR90 crore to INR95 crores. And with this, we are expected to reach a capacity of INR5,000 crores to INR5,100 crores. Now this will hold us in a good space, but with nominal capex, we can further increase this INR5,100 crores to, let’s say, INR600 crores more that is possible in the near-future. So as of now, the current capacities by the end of this quarter, which will be operational will be close to INR5,000 crores INR5,100 crores.<\/p>\n

Shaleen Seth<\/strong><\/p>\n

Okay. And any color on the land deal, the 82 acres still total?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Okay. So in that 82 acres, some around 22 acres is already there, done, it is there in the books. And for the balance 60 acres, you know the agreements are going on.<\/p>\n

Shaleen Seth<\/strong><\/p>\n

Okay, perfect. If I can take one more question,<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah, please.<\/p>\n

Shaleen Seth<\/strong><\/p>\n

So JCB very recently-announced that they are coming up with hydrogen engines. And I think TU is definitely going to be a market for them. So do you have any perspective on that?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah. See, these — whether it is hydrogen engine, whether it is electronic trains, these are alternative energy sources, which definitely as a country, we have to adopt and definitely that’s the way forward. Because fossil fuels are not the thing of future. Having said that, you know our powertrains that we have, we buy engines from almost everyone in India, whether it is Tata Motors, Ashok Liland, Volvo,, you can name a company who manufactures in engines in India, we buy it from them. Courtesy, our equipment, which ranges from a 15 horsepower tractor to 180 tonne crawler crane. So given the product range that we have, our requirement of engines of various power and various top combinations is huge. So we are in touch with almost all the engine manufacturers and we’ll be very open to adopt any stable technology as and when it hits the market. And it will not be out of place that we were the first ones in India to actually get going on electric equipment. So as soon as some of the manufacturers have a stable hydrogen cell or hydrogen powered technology for a powertrain, we are very much interested in that going ahead. Ultimately,, it is not only about relaunching a crane with the technology, ultimately, it’s about the operation of that crane also. So just for the announcement sake, I don’t think so that’s the right approach, but how far you know the entire infrastructure is ready to run that crane on the road, on the site. That’s also very important.<\/p>\n

Shaleen Seth<\/strong><\/p>\n

Yes, absolutely. Great. Thank you.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all the participants that you may press star and one to ask a question. Next question comes from the line of Vishal with Swan Investment. Please go-ahead.<\/p>\n

Vishal<\/strong><\/p>\n

Thank you for taking my question, sir. Sir, my question is regarding the CEV products. What kind of increase in the realization we expect with these products across the lines?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

So it totally depends upon the equipment, but generally what we expect is around 8% to 15%, let’s say in that range.<\/p>\n

Vishal<\/strong><\/p>\n

Okay, okay. And what — by when what time we will we are expecting to fully move our product-line to CEV pipe.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

So we have started manufacturing CEV 5 equipment and as soon as our — there is some inventories which are lined with us. And as soon as we are done with them, we’ll be completely moving on to the CEV5.<\/p>\n

Vishal<\/strong><\/p>\n

Okay, okay. So when we say 8% to 15%, so similar kind of cost increase also there or is it moving towards CV5 will be a bit slightly margin-accretive for our side?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

See, as of now, we would say that we would like to stabilize our margins at the current place because in the last three, four years, you must-have seen that we have expanded our bottom-line quite swiftly. And now it is totally up to us that whether we want to keep focusing on a competitive landscape, produce cost-effective equipment or keep on pushing the price increases. So I believe in the next two, 3\/4, we will start to take a price calibrated approach. But as of now, the thing that is on the top of our mind is to stabilize the margin profile of the company where we stand. And if possible, it can expand a little bit.<\/p>\n

Vishal<\/strong><\/p>\n

Okay. And don’t you think that the rise in exports because the opportunity for us in CV price will increase in export markets so there it is — it will be a price accretive business. Am I right in this understanding?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yes. Because see, when we talk about CV5 norms, it is not only about the emissions. Along with CV5 migration comes host of safety features as well as electronic communications, which are integrated with the machine and the market is also now getting feature sensitive. So going ahead, when you add a lot of electronics to the machine with enhanced features. And as you correctly said that the export markets, which will also open up in years to come, I believe that overall on the — overall on the medium to long-term, this movement should be — should be favorable for us from the bottom-line perspective.<\/p>\n

Vishal<\/strong><\/p>\n

Okay. Okay. Can you also throw some light on our catto JV, what kind of products we’ll be launching through this JV, what would be the realization we are targeting, things like that.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

So I will give the line to Lutra sir for that, please.<\/p>\n

Rajan Luthra<\/strong><\/p>\n

See, basically the JV what we are planning with is related to heavy crane. When we say heavy crane, it is, cranes and rough cranes. These are products which we are already manufacturing, but our already manufacturing. So what we are expecting to do is that once — and we are competing — we are the competing with the Chinese player who are dumping the product in the market at a very throway prices and it’s absolutely difficult to match their, although we are making money in this product, but not to that level of what other trains and what we are doing on. So that is why we are selling less with the whole objective of making JV was to first introduce Japanese technology in this product because they command a — Japanese technology will command a premium over the Chinese player. The first part, second is by the — by government putting anti-dumping duties on Chinese products and the cost — their cost will increase which will give us more leeway for increasing our sales. What we are doing is this JV has three components. One is that they will be improving the technology of these products and so that they become a Japanese product which we’re selling in India plus. And we will be manufacturing those cranes which are not right now in our product portfolio, 200 ton crane to 50 tonne cranes or a better technological product, which will be supported by the works to all the countries where right now they are manufacturing and selling off. So it has got both component — main position for both us and because with this the cost will go down overall for the catto also and for us, it will not only improving the technology in improving our market-share in this decline, but also export opportunity directly open for because they will be selling these products in the international market.<\/p>\n

Vishal<\/strong><\/p>\n

Fantastic, sir. Sir, so in the current market, can you roughly estimate what would be the market size of these kind of products, which you want to explore through catto.<\/p>\n

Rajan Luthra<\/strong><\/p>\n

See, if you look at-the-market size of these were last year the overall India — in India, it was like 900 trains all put together, between 900 to 1,000 trains crores.<\/p>\n

Vishal<\/strong><\/p>\n

Okay. And roughly what will be the realization per unit for these cred, it will be close for INR80 lak INR90 lakhs INR1 crore or plus<\/p>\n

Rajan Luthra<\/strong><\/p>\n

Crore kind of more than crores.<\/p>\n

Vishal<\/strong><\/p>\n

Okay. Fantastic, sir.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Vishal, approximately the market size in terms of rupees would be close to INR1,500 croress mines.<\/p>\n

Vishal<\/strong><\/p>\n

Okay, super. Thank you so much for answering my question. All the best.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

We have just — we have just addressed the market size in India.<\/p>\n

Vishal<\/strong><\/p>\n

Wow. That’s great, sir. Thank you and all the best.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all the participants that you may press star and one to ask a question. Next question comes from the line of Keval Shah with Emkay Capital. Please go-ahead.<\/p>\n

Keval Shah<\/strong><\/p>\n

Hello, I joined the call a bit late. So I just want to ask in your previous quarter con-call, you were expecting some defense order. So can you throw some light on that, update on it?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yes, sir. So we are expecting one of our biggest defense orders. It should have come by now, but it has just held up with some paperworks and should be here, I believe within this quarter.<\/p>\n

Keval Shah<\/strong><\/p>\n

So any ballpark or revenue expected from that order, if you can give.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

So once we get this order, we will be having approximately 24 to 30 months-to execute and we firmly believe that the revenue will start flowing in from next financial year.<\/p>\n

Keval Shah<\/strong><\/p>\n

Okay. And my second question is that how much the revenue growth we have seen because of this in this quarter because of BS5 compliance. So any — any revenue increase we have seen in this quarter because of that?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Okay. No, sir, because up till 31st of December, the earlier emission norms were active. So barring a few Proto machines, we have — we have not sold them.<\/p>\n

Keval Shah<\/strong><\/p>\n

Okay. Thank you.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Because the regulation came into effect from 1st of January. So till the nine months, CEV5 was not into the picture.<\/p>\n

Keval Shah<\/strong><\/p>\n

So because of this, have you seen any pre-buying in this quarter?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yes, definitely, there has been some action, but it’s very difficult to pinpoint and quantify the numbers, but the market has been very, I would say, the undercurrents are very, very strong. The market is healthy and the sentiments remain good.<\/p>\n

Keval Shah<\/strong><\/p>\n

Okay. Thank you. All the best.<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

A reminder to all the participants that you may press star and one to ask a question. Next question comes from the line of Ravindra, an individual investor. Please go-ahead.<\/p>\n

Ravindra<\/strong><\/p>\n

Hello, am I audible?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah, hi.<\/p>\n

Ravindra<\/strong><\/p>\n

Hi, good evening. My question is, what is the average workplace span of pick and carry cranes and what is the demand on account of these cranes being phased-out in volume terms?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Sorry, sir, can you please repeat the question there was?<\/p>\n

Ravindra<\/strong><\/p>\n

Sure. My question is, what is the average work-life of pick and carry cranes, okay? Of as a replacement demand, what are the current crane were procured on account of replacement in the current fiscal?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Yeah. So a typical lifespan of a crane is around seven to eight years, it totally depends upon the way you use them and the way you maintain them can also extend up to nine to 10 years if you are using them properly. But unfortunately in India, the kind of environment in which these machines operate in, it’s very challenging. So typically a span of eight to nine years is very fair to assume. Going by that volume numbers, I think if we date back eight to nine years, I would say we don’t have an exact number of how much market is coming from the replacement side, but I would say around 15-odd percent should be there, 15% or maybe, let’s say 20%, but I don’t have the exact number. But I’m framing my answer on the basis of the volumes which were there eight to 10 years back.<\/p>\n

Ravindra<\/strong><\/p>\n

Got it. Thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all the participants that you may press star and one to ask a question. Next question comes from the line of Nirmal, an Individual investor. Please go-ahead.<\/p>\n

Nirmal<\/strong><\/p>\n

Sir, in the last con-call, you talked about that you have put foreign acquisition on-hold and you are pursuing something better within India. So any development on that part?<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

So we are still working very actively and as soon as something concrete happens, of course everyone will be made aware of the development.<\/p>\n

Nirmal<\/strong><\/p>\n

So it can it happen by next quarter<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

It’s very difficult to pinpoint, but as I said that as soon as you know something concrete happens on-the-ground, I think we would be very happy to share it with everyone.<\/p>\n

Nirmal<\/strong><\/p>\n

Okay, okay. Thank you<\/p>\n

Operator<\/strong><\/p>\n

Thank you. On behalf of Emkay Global Financial Services, that concludes this conference. Thank you for joining us. You may now disconnect your lines.<\/p>\n

Rajan Luthra<\/strong><\/p>\n

Thank you, everybody,<\/p>\n

Vyom Agarwal<\/strong><\/p>\n

Everyone<\/p>\n","protected":false},"excerpt":{"rendered":"

Action Construction Equipment Limited (NSE: ACE) Q3 2025 Earnings Call dated Feb. 10, 2025 Corporate Participants: Vyom Agarwal \u2014 President Rajan Luthra \u2014 Chief Financial Officer Analysts: Chinmay Kabra \u2014 Analyst Rohan Mehta \u2014 Analyst Garvit Goyal \u2014 Analyst Unidentified Participant Mudit Bhandari \u2014 Analyst Aman Soni \u2014 Analyst Vijay Pandey \u2014 Analyst Shaleen Seth […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-176073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":109778,"url":"https:\/\/alphastreet.com\/india\/infosys-limited-infy-q4-2021-earnings-call\/","url_meta":{"origin":176073,"position":0},"title":"Infosys Limited (INFY) Q4 2021 Earnings Call","author":"Sahil Anand","date":"April 21, 2021","format":false,"excerpt":"Infosys Limited (NYSE: INFY) Q4 2021 earnings call dated\u00a0Apr. 14, 2021 Corporate Participants: Sandeep Mahindroo\u00a0\u2014\u00a0Vice President, Financial Controller & Head \u2013 Investor Relations Salil Parekh\u00a0\u2014\u00a0Chief Executive Officer and Managing Director Pravin Rao\u00a0\u2014\u00a0Chief Operating Officer and Whole-time Director Nilanjan Roy\u00a0\u2014\u00a0Chief Financial Officer Analysts: Ankur Rudra\u00a0\u2014\u00a0JPMorgan \u2014 Analyst Diviya Nagarajan\u00a0\u2014\u00a0UBS \u2014 Analyst\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":41715,"url":"https:\/\/alphastreet.com\/india\/wipro-limited-wit-q2-2020-earnings-snapshot\/","url_meta":{"origin":176073,"position":1},"title":"Wipro Limited (WIT): Q2 2020 Earnings Snapshot","author":"Toby","date":"October 15, 2019","format":false,"excerpt":"-- Wipro Limited (NYSE: WIT) reported second-quarter 2020 earnings of $0.06 per share, in line with Wall Street projection -- Revenues grew 4% to $2.14 billion, vs. $2.13 billion expected. -- In Q2, IT Services revenue grew 2.5% to $2.05 billion. -- Wipro expects IT Services revenue to be $2.065\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"Earnings Update by AlphaStreet","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-Coverage-5.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-Coverage-5.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-Coverage-5.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-Coverage-5.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-Coverage-5.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":130714,"url":"https:\/\/alphastreet.com\/india\/titagarh-wagons-limited-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":176073,"position":2},"title":"Titagarh Wagons Limited Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"June 20, 2022","format":false,"excerpt":"https:\/\/youtu.be\/x0xDQ9_giw8 Key highlights from Titagarh Wagons Limited (TWL) Q4 FY22 Earnings Concall \u00a0 Management Update: TWL said the company backed the highest ever wagon order placed in the history of Indian Railways for a basic value of about INR7800 crore and a total value of INR9000 crore plus, taking the\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":55427,"url":"https:\/\/alphastreet.com\/india\/infosys-limited-nyse-infy-q3-2020-earnings-call-transcript\/","url_meta":{"origin":176073,"position":3},"title":"Infosys Limited\u00a0 (NYSE: INFY) Q3\u00a02020 Earnings Call Transcript","author":"Staff Correspondent","date":"April 9, 2020","format":false,"excerpt":"Infosys Limited\u00a0 (INFY) Q3 2020 earnings call dated Jan. 10, 2020 Corporate Participants: Sandeep Mahindroo\u00a0--\u00a0Financial Controller and Head, Investor Relations Nandan Nilekani\u00a0--\u00a0Chairman of the Board Salil Parekh\u00a0--\u00a0Chief Executive Officer and Managing Director U.B. Pravin Rao\u00a0--\u00a0Chief Operating Officer and Whole-time Director Nilanjan Roy\u00a0--\u00a0Chief Financial Officer Analysts: Moshe Katri\u00a0--\u00a0Wedbush Securities -- Analyst\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"stock earnings conference call transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":142292,"url":"https:\/\/alphastreet.com\/india\/kpr-mill-ltd-kprmill-q3-fy23-earnings-concall-transcript\/","url_meta":{"origin":176073,"position":4},"title":"KPR MILL LTD (KPRMILL) Q3 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"February 21, 2023","format":false,"excerpt":"KPR MILL LTD (NSE:KPRMILL) Q3 FY23 Earnings Concall dated Feb. 7, 2023. Corporate Participants: P L Murugappan\u00a0--\u00a0Chief Financial Officer Analysts: Abhishek Nigam\u00a0--\u00a0B&K SECURITIES -- Analyst Kapil Jagasia\u00a0--\u00a0Nuvama -- Analyst Muthu Kumar\u00a0--\u00a0Fidelity Ventures -- Analyst Unidentified Participant\u00a0--\u00a0-- Analyst Presentation: Operator Ladies and gentlemen, good day and welcome to the KPR Mill\u2026","rel":"","context":"In "Consumer"","block_context":{"text":"Consumer","link":"https:\/\/alphastreet.com\/india\/category\/consumer-stocks\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":130756,"url":"https:\/\/alphastreet.com\/india\/united-spirits-limited-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":176073,"position":5},"title":"United Spirits Limited Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"June 23, 2022","format":false,"excerpt":"https:\/\/youtu.be\/Vvcm7ol3-Ew Key highlights from United Spirits Limited (MCDOWELL-N) Q4 FY22 Earnings Concall \u00a0 Management Update: MCDOWELL-N expects volatility, temporary import supply constraint and inflationary headwinds to remain in short term, putting pressure on its growth and margins. \u00a0 Q&A Highlights: Avi Mehta - Macquarie Group - Analyst EBITDA and working\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/176073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2377"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=176073"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/176073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/147581"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=176073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=176073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=176073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}