Talbros Automotive Components Ltd

- There is no mention of any current or planned fundraising through debt or equity in the provided transcript. - The discussion mainly focuses on business performance, order book, capacity utilization, export growth, and operational updates. - Capex plans are disclosed (INR 45-50 crores annually on a stand-alone basis), but no indication of raising funds to finance this. - Management highlighted focus on execution, margin improvement, and growth, but no explicit reference to new debt or equity issuance. - No questions or answers discussed fundraising or capital raising plans during the Q&A session.

- In the last financial year (FY '24), standalone capex was around INR 45 crores. - For the current year (FY '25), expected standalone capex is approximately INR 45-50 crores. - The entire capex program of INR 110 crores mentioned in the presentation is planned to be completed by FY '26. - Significant capex is ongoing in Marelli, targeting a capacity ready for approximately INR 600 crores per annum. - Expansion is also planned in the Marugo division, aiming for revenues around INR 175 crores plus. - Talbros is making targeted investments to expand its offerings in the electric vehicle (EV) segment. - Focus remains on strategic alignments and capability improvements to capitalize on growth in EV and global markets.

- The company targets a consolidated sales growth of minimum 15% next year. - Marelli segment is expected to grow strongly by 35% to 40%. - Forging division anticipates growth of over 15%. - Domestic market growth is projected around 7% to 8%, with potential to reach 8% to 9% due to new orders from Mahindra, Kia Motors, Ashok Leyland. - Export share expected to increase from 27% in FY '25 to about 30% by next year, reaching 33-34% by FY '27. - Order book execution is underway; 40-45% started, 30% expected to start next year, rest thereafter. - Some delays expected due to product launch postponements (Stellantis, Jaguar Land Rover). - Company remains hopeful but acknowledges possible delays of 6-9 months in achieving FY '27 revenue target of around INR 2,200 crores (excluding Nippon Leakless Talbros).

- Talbros targets consolidated revenue growth of minimum 15% next year. - Marelli joint venture expected to grow 35% to 40% next year. - Forging division anticipated to grow by 15%+. - EBITDA margin guidance for current fiscal is around 16.75% to 17%. - Export share expected to increase from 27% to around 33%-34% by FY 2027. - Expected revenue realization from new INR 2,400 crores order book: 40%-45% already started; remaining 60% to begin over next two years due to launch delays. - Delay of 6-9 months anticipated to achieve FY '27 revenue target of ~INR 2,000 crores (excluding Nippon Leakless Talbros JV). - Margin expansion and cost optimization remain a key focus area. - EPS growth likely in line with revenue and margin improvements given 14%-16% EBITDA growth y-o-y and 17.4% EBITDA margin achieved in FY 25.

- Current order book additions: INR 2,400 crores. - Execution status: Approximately 40%-45% of orders already started; 60% remaining. - Expected execution timeline: Around 30% expected to start next year; the balance expected post next year due to delays in product launches (e.g., Stellantis, Jaguar Land Rover). - Marelli Talbros Chassis Systems: Order book strong; supply to Stellantis to start from Q3 of the calendar year; Maruti EV supply starting June/July. - Heat Shield segment: New orders worth INR 245 crores received. - Kia and Hyundai orders (heat shield of INR 14 crores): Hyundai supply ongoing; Kia supply likely to start within a couple of months. - Tata Motors order (heat shield): Currently at RFQ stage; orders expected soon. - Overall, order intake remains intact despite some delays.