Gabriel India

“Yes. We will have to set up the new plant for the joint venture. I think we are already starting this. We will be having plant in Chennai.”

“It could be, depending on the customer, we will have this capex incurred on this basically, or the capacity relocation may also happen basically.”

“And of course, we continue to bid for other businesses, especially for other customers like Tata and Mahindra. And as soon as they materialize, we will think about the capacity expansion basically.”

“I think it's difficult, but I think we look at -- it's a Volkswagen business, which will be coming along with the joint venture.”

“And of course, we have another business, which is already in hand, AI4. So that will come up in next year.”

“So as I said that next year, we will have Ai4, which will be coming for the production. So that will have significant volume and we are currently in the bidding position with other customers.”

“On the 2-wheeler space, no, I think the order book is quite strong. We continue to win more orders.”

“Just to share with you, I think last month we started the supplies for the Bajaj Chetak model, which was missing in our portfolio, or the Bajaj EV portfolio was missing.”

“Generally, their product value could be, I would say, in the range of, for the passenger car, INR30,000 to INR50,000 per car set when it comes to the product value.”

“The growth purely on the CV side is exactly matching the industry growth because obviously, with the --more than 85% market share, that is bound to be in line with the market.”

“because of a lot of pressure from the OEM this time, the aftermarket number, you don't see a similar growth there.”

“So it is more of a mix issue there in the PV side. But yes, we are lagging behind on the PV side in this quarter vis-a-vis the market side.”

“And yes, based on the current regulations, we are doing the complete product mapping in all segments, whether it is commercial vehicle and passenger car and of course, on the 2-wheeler and 3-wheeler side”

“Coming to the 2-wheeler segment, the production grew by 16.5% Y-o-Y in Q2 FY27, while overall production growth for H1FY27 stood at 19.5%.”

“Industry production increased by 25% year-on-year in Q2 FY27, while growth for H1FY27 stood at 21%.”

“Commercial vehicle production registered a very strong growth of 34% year-on-year in the Q2 FY27, taking the overall growth for the first half of the year to 25%.”

“3-wheeler production also remained healthy, growing by 24% in Q2 and 30.5% during the first half of the year, supported by strong last-mile mobility and cargo transportation demand.”

“And we are all, today's time, having a lot of pressure on the supply. So we continue to fulfill customer requirements.”

“So it's not a seasonal kind of a thing. It is just a situation where there is a gap between the price recovery from the customer and the price cost, which we are incurring right now.”

“The only difference in Dana is, Dana has a lot of exports. So we continue to take advantage of the exchange benefit, which is offsetting even the commodity impact.”

“So that, of course, putting a lot of pressure on the logistic costs as well.”

“Unfortunately, in Q2, while everybody expected that the prices may soften up and obviously, the number would look much better, but the prices in Q2 also has shot up.”

“And margins are impacting. I mean you know that everybody is expecting in today's time because of the commodity change and of course, the forex, they are not favorable.”

“we successfully completed the allotment of INR1,000 crores of unsecured rated listed and redeemable NCDs through private replacement carrying an annual coupon of 8.15% with tenure for 3 years.”

“This form part of our financing arrangements to support the company's strategic growth and expansion initiatives.”

“As a strategic initiative, on 6th October 2026, we signed a joint venture agreement with a company named Faurecia Automotive Seating India Limited, part of FORVIA, the global automotive technology group to establish Faurecia Anand Seating India Private Limited, which was subsequently incorporated on 19th October 2026.”

“Importantly, the contribution from HL Mando Anand reflects only for a few days as the transaction took place on 11th September 2026.”

“And there is, of course, a royalty fee payment for that. That is not unusual. That is very much in line with the business.”

“And as far as FORVIA is concerned, the FORVIA entire business related to the seating will be part of the joint venture, except the mechanism actually.”

“I think we are targeting to complete the closing by December end.”

“I'm also pleased to announce that Board of Directors have declared an interim dividend of INR2.15 per share, having the face value of INR1 each.”

“Overall, the industry performance reflects resilient domestic demand and improving customer sentiment, although geopolitical uncertainties and volatility in crude oil and commodity prices remain important factors to monitor.”

“Yes, last quarter was slightly difficult because of -- there was a fire in one of the plant of Hyundai supplier, which derailed the complete business for Hyundai on which our sunroof is going on.”

“So I think as Creta seems to be phasing out next year by Hyundai, but we will continue to supply the EV model of the Creta.”

“And of course, there are certain models which did not pick up, especially the AYI. So that did not pick up.”

“Revenue from operation for Q2FY27Q2 stood at INR1,608 crores, reflecting a year-on-year growth of 23%.”

“Consolidated EBITDA for Q2FY27 stood at INR141 crores, reflecting a year-on-year growth of 12% with an EBITDA margin of 8.8%.”

“our share of profit before tax stood at INR48 crores in Q2FY27, reflecting a year-on-year change of 39%.”

“Consolidated PBT before exceptional item for Q2FY27 stood at INR148 crores, reflecting a year-on-year growth of 14% with a PBT margin of 9.2 %”

“Coming to the stand-alone performance, revenue from operations stood at INR1,399 crores in Q2 FY27, reflecting a Y-o-Y growth of 23%.”