Samvardhana Motherson International Ltd Q4 2024 Earnings Call Transcript

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

Question: Amyn Pirani - JPMorgan Chase & Co, Research Division - Analyst : Two questions from my side. First of all, if I look at the list of your greenfields, you are doing a few of them in China also. Historically, as well as today also you mentioned that you are not present in a big way with the local OEMs. Given that most of these greenfields are still happening within the automotive segment, can you give some color as to are we continuing to be with the global OEMs in China? Or is there some plan to increase engagement with the local OEMs who are gaining share?

Question: Amyn Pirani - JPMorgan Chase & Co, Research Division - Analyst : Understood. No, that's good to know because they are expanding in Europe where you obviously already have a very strong presence. So that's a very interesting point. Secondly, just a clarification, this INR 5,000 crores NCD that you are planning to raise, is it mostly some debt in financing? Or are we looking at keeping some cash for some extra CapEx going forward or -- for M&A? Unidentified Company Representative Look, it's an in-principle approval. As you know, the regulation requires us to take an in-principle approval. And last time, we have taken INR 3,000 crores. We had issued INR 1,400 crores. We've taken INR 5,000 crores depending upon the need of the business, we will come back and announce what we decided. So -- this is an in-principle approval for INR 5,000 crores.