• Margin performance: Reported margins came in at 24.5%, down 70 basis points year-on-year due to the acquisition of Escorts Kubota's lower-margin railway business, remaining within the guided range of 23% to 25%.
• Order book execution: The company's order book stands at nearly 23,700 crore with 70% from the EV segment, with 60% to 70% of the total 10-year order value scheduled for execution over the next three to four years.
• Global EV traction: Battery electric vehicles currently contribute about 39% of revenue, with heightened energy security concerns accelerating EV adoption in Europe, the US, and India, particularly across traction motors, suspension motors, and differential assemblies.
• ADAS revenue timeline: Meaningful revenue contributions from Novelic and ADAS technology are expected starting next calendar year, following the standard 18-month lead time from project wins to start of production.