- New order wins at INR2.4b (v/s INR531m in 1QFY22) from Hyundai, TTMT, CNH, HMCL, M&M. Further, there are RFQs worth INR19.95b (v/s INR16.6b in 1QFY22). It is focusing on aluminum casting machined components for non-auto for gen-set and has already got an order for INR1.1b, which would start from Mar- 22.
- 2W ABS supplies have started from Sep-21, but supplies are restricted due to semiconductor shortage. It plans to achieve a run-rate of 400k units p.a by Jul- Aug'22 as the supply of semi-conductor improves. The market is 3.5m p.a, with Bosch having 85% market share.
- It has started supplies of brakes for Motorcycles over 200cc from Sep'21. Clutch supplies are expected to start from Jan'22
- EV supplies: It started supplies of suspension, die-casting, and brakes assemblies to e-2Ws/3Ws. It has got an order for brake system order from Ather (INR500m to start with from 1QFY23). It is actively engaged at an advanced stage with all EV players (incl. start-ups).
- Aluminum die-casting for EVs is slightly lower in weight, but the number of parts is more and has higher value addition.
- PVs share in exports increased to 6.5% of sales in 1H v/s 5.5% in 1HFY21.
EU Business
- Order wins: It received orders worth EUR10.3m in 2QFY22 (v/s EUR7.13m in 1QFY22) from Porsche, Daimler, CNH, Stellantis (Fiat-Peugeot JV). EUR130m orders in 3 years for EVs & hybrids and started in FY21 and peak in FY27. This includes EUR35m for EVs for Porsche & Audi and EUR95m for hybrid cars for VW, Daimler, BWM, Stellantis, and Maserati.
- Chip shortage: It is receiving the first positive signal for Nov-Jan after seeing a steep decline in Oct-21 registration (-30%). OEMs expect to come back to previous levels from 1QCY22.
- Magnesium shortage: Magnesium-based aluminum alloy is used in EU operations. It is not facing any supply issues so far and expects the situation to improve from Feb-22.
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