• Semiconductor expansion timeline: CG Power's larger G2 facility in Sanand is scheduled to begin production in October 2027, targeting 70% capacity utilization in about four years and potential revenues of $500 million to $600 million.
• Cholamandalam portfolio shift: Vehicle finance is projected to drop below 50% of the loan book as housing loans and loan-against-property drive growth, while proposed revolving credit rules will impact less than 1% of total AUM.
• CG Power momentum: The power equipment division holds an unexecuted order book exceeding ₹14,000 crore and is opening a major transformer facility in Madhya Pradesh, while industrial systems growth is rebounding after bottoming out.
• Subsidiary listing strategy: Tube Investments has no plans to publicly list its emerging business units or alter Shanthi Gears' standalone listed status over the next couple of years, focusing entirely on internal development.
• Private capex stance: Management emphasized that Indian private sector companies must significantly increase capital expenditure to capitalize on domestic growth opportunities, supportive government policies, and access to global talent.