TVS Motor Company Ltd Q2 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Gunjan Prithyani - JPMorgan Chase & Co, Research Division - Analyst : I just had 2 clarifications on some of the comments you made earlier. Firstly, on the inventory side, you mentioned that your 28 to 30 days is normal. What is the current inventory level in the market, if you can just give some sense on that? I'm not sure if I missed that part. And secondly, if you were to talk about the recovery across your subsegments within your own portfolio, what you -- how would you rate as mopeds, bikes, scooters, how would you grade the recovery across different subsegments versus pre COVID levels, last year level, whatever is comfortable with you?

Question: Gunjan Prithyani - JPMorgan Chase & Co, Research Division - Analyst : Okay. Okay. And just 1 more question. Just going back to the margins. If I really look at the gross margins, they have moved up. Now and I'm just trying to get sense how they should pan out for the remainder of the year when we look forward, there are clearly some items -- headwinds we're facing. Now if I think -- if you could just give some perspective on -- more from a gross margin perspective. I mean, I appreciate the comments that you made on the fixed cost savings and other expenses, but some color on this would also help.