Q1 2025 ZF Commercial Vehicle Control Systems India Ltd Earnings Call Transcript
Key Points
- The company recorded a 4.1% growth in aftermarket performance, driven by increased sales of door control systems and OE spares.
- Export of services grew by 16%, with service income reaching Rs.107 crores due to increased engineering and related support activities.
- The digital business showed a remarkable growth of 31.9% compared to the previous financial year, supported by enhanced field support and increased customer awareness.
- The company inaugurated an electronic testing lab and design office, enhancing capabilities and accelerating product development.
- The company signed a Memorandum of Understanding with IIT Madras to collaborate on the Mobility and Intelligent Transportation Initiative, focusing on sustainable transport and energy efficiency.
- Overall sales performance was impacted, with a decrease of 3.8% in sales compared to the corresponding quarter of the previous year.
- Export sales of goods dropped by 2.1% due to delays in the fee segment and production slowdowns at major OEM overseas customers.
- Commercial vehicle production above 6 tons registered a degrowth of 3.5% in Q1 FY2024-25.
- The domestic EV bus market saw a significant drop of 63% in the first quarter compared to the same period last year.
- The company faced challenges such as election-related disruptions, rising vehicle costs, higher inventory levels at customers, and model mix considerations.
Good day and welcome to ZF Commercial Vehicle Control System India Limited Q1 FY25 Post Results Earnings Conference Call hosted by Bhatiwala and Karani Securities India Pvt. Ltd. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Annamalai Jayaraj from Batlivala & Karani Securities India, Private Limited. Thank you, and over to you, sir.
Thanks, sir. Good afternoon. Thank you for joining us today, and welcome to ZF Commercial Vehicle Control Systems India Limited's call to brief you on their quarterly earnings. Today, the first-quarter earnings for FY 2024-25 to be presented by the management team of ZF Commercial Vehicle Control Systems India Limited. Your host today from ZF Commercial Vehicle Control Systems India Limited are Mr. P. Kaniappan, Managing Director; Swete Agarwal, Chief Financial Officer; and M. Muthulakshmi, Company Secretary.
I will now hand over the call to Mr. P. Kaniappan, who will provide
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