• Commodity cost management: To mitigate rising commodity cost pressures, the company implemented price hikes between 1% and 2% and introduced internal measures to pause, postpone, or squeeze non-essential operational expenses.
• Fleet replacement demand: Underlying commercial vehicle demand remains supported by an aging fleet that now averages over 10 years compared to historical levels of 7 to 8 years, following a 21% to 22% MHCV industry growth in Q4.
• FY27 Capex plans: Capital expenditure will largely focus on new product and technology development, in addition to establishing a new battery pack manufacturing facility in Pillepakkam.
• Regulatory approval timelines: With major regulatory clearances secured, management expects completion of its planned processes towards the end of Q2 or early Q3.