Igarashi Motors India Ltd

- There is no explicit mention of any current or upcoming fundraising through debt or equity in the provided transcript. - The company discusses capital expenditure plans (around 10%-12% of revenue), funded through internal cash reserves, indicating no immediate need for external financing. - The mention of a private equity investor in the unlisted contract manufacturing company hints at some investment within the group, but no new fundraising plans are disclosed. - The merger of the contract manufacturing company with the listed entity is underway but no related financing or fund-raising details are provided. - Management emphasizes prudent use of cash deposits for growth but no direct reference to raising new debt or equity capital.

- The company plans to increase capital expenditure (capex) from the usual 6%-7% of revenue to about 9%-12% over the next two years, roughly translating to around INR 60 Crore per year based on current revenues. - Capex will focus on acquiring new infrastructure, with approximately 130,000 sq. feet already acquired for new production lines. - Investments include upgrading from generation three to generation four technology in equipment and assembly lines, enhancing quality, capacity, and cost efficiency. - The capacity expansion aims to support volume growth of 20%-25% per year, with capacity ramp-up spread over several years (limited revenue in year 1, 50% in year 3, 75%-85% in year 4). - A joint venture and technical cooperation with a top-notch powertrain actuators engineer from General Motors supports advanced product development. - The company is moving towards platformized, brushless DC motor production, signaling strategic long-term investments in R&D and manufacturing capability.

- Volume growth relative to last year increased by about 17%, better than previous two years. - Expected volume growth targets around 20%-25% per year, linked with capacity additions. - Revenue growth for the first nine months stood at 19%-20%, with profitability growth slightly higher. - Capital expenditure planned at 10%-12% of revenues annually to support capacity expansions and technology upgrades. - Capacity increase phased over four years: limited revenue in year one, ~50% in year three, and ~75%-85% by year four post capex. - Growth driven by expanding markets (North/South America, China, Europe) and new customer enquiries, especially from China. - Continued focus on quality and cost competitiveness to drive sustained growth. - Product lifecycle expected to stabilize at 6-7 years, with efforts to increase penetration and downsize product life cycles.

- Volume growth is expected at 20%-25% per year over the next few years, driven by growing market demand and capacity additions. - Revenue growth for the nine-month period was 19%-20% year-over-year, with profitability growing slightly higher. - Capex will increase to 10%-12% of revenue from the usual 6%-7%, supporting capacity expansion and technology upgrades. - New platform developments and customer inquiries indicate robust medium-term growth prospects, especially in automotive electric motors. - Manufacturing economies of scale in contract manufacturing are expected to improve EBITDA contribution timelines (about 2 years vs. 4 years for IP products). - Continuous investment in process upgrades, quality improvements, and automation will enhance competitiveness and margins. - Employee costs and depreciation may rise in absolute terms due to scaling, but are expected to be stable or improve as a percentage of sales.

- The company mentioned that their platforms are being developed as generic platforms for multiple applications (engine, exhaust, turbochargers). - By calendar year 2018, they expect to see ramp-ups of these new platforms, indicating active and growing order flows. - The management highlighted that they do not wait for customer purchase orders before investing; they are proactively preparing capacity to meet demand. - They have acquired about 130,000 sq. feet of infrastructure to support new production lines and expected order inflows. - There is strong confidence in market opportunities, including good enquiry flows (RSQs) from China and globally. - The firm expects volume growth of about 17% year-on-year, supported by existing and upcoming orders. - No specific numeric orderbook value disclosed, but indications are that order intake is healthy and ramping up.