Triton Valves — Q3 FY26 earnings call

If you look at the automotive vertical, I would say that very broadly speaking, the technology in the industry is shifting 1st from tube type tires to tubeless, right. So that is a transition that is well and truly underway. I would say that over the next maybe four or five years that transition will happen almost completely where you know tube will almost become insignificant and tubeless will be the product that will rule the market, right.

Provides a comprehensive overview of the company's product strategy across automotive, EV, metals, and climate control verticals, highlighting market shifts and Triton's positioning.

Asked by Sudhir

The opportunity pie that we are on to if I put Bosch plus Conti plus Sensata together, this could be an opportunity of about hundred to 150 crores a year, right. For the next, I would say, five years at least, right... I'll teach you how to, how to fish this number out, right. What you do is you look at the number of two wheelers EV two wheelers that are being produced in the country or being sold, right. That number you multiply by about 1.75, right. That will be the number of let's say, pressure vents required by the market, ok.

Offers quantified market potential for key growth areas like TPMS (₹500 crores over 5 years) and a methodology to estimate EV battery pack demand, crucial for investor modeling.

Asked by Dolly Choudhary

Unfortunately, you know, when we started the climate control vertical, the difference used to be about 5 to 6 %. Today, currently, as we speak, I think the Chinese are dumping material at 20 to 25 % discount to our price... So somewhere I think this discussion is taking a little bit of time, I mean, they're trying to figure out how to do it in a equitable manner and how to do it in a manner that they are not seen to be favoring only Triton.

Highlights a significant external challenge (Chinese dumping) impacting a key growth vertical and management's ongoing efforts to seek government intervention, which is critical for unlocking the full market potential.

Asked by Dolly Choudhary

A little bit has flown in, a little bit has flown in the sense, see, we've been asking, you know, different customers depending on what product we are selling them, what's the product mix for them. We've been asking them a certain figure. It could be anywhere between 4 to 8 % in terms of the correction that they need to make on the pricing, right. Some, some have given us partially, some have said we'll give you something in this quarter, we'll give the rest in the next quarter.

Indicates ongoing efforts to improve realizations and margins, with some success but also highlights that it's a continuous negotiation process with customers.

Asked by Chirag Shah

long gestation project, but I would say, you know, discussions are moving in a very positive direction and I think, you know, it's just like I said, it's just a matter of time. See sometimes their priorities change. I think after that, you know, military action between India and Pakistan, a little bit of their priorities have changed, right.

Provides an update on a long-term strategic initiative, acknowledging delays due to external factors but maintaining a positive outlook on future penetration.

Asked by Chirag Shah

Vertical wise, I would say that we would be doing, this would be roughly, I would say 55 % standalone, 45 % from subsidiaries... Metals and climate control that would be, I would say about 80 % from metals, 20 % from climate control. It would be 80:20... if I continue growing at 18 %, which year will I cross thousand? Okay. Now, if I try to raise my Cagar from 18 to let us say 25 %.

Clarifies the current revenue mix across segments and outlines the growth rate required (25% CAGR) to achieve the aspirational ₹1000 crores turnover target.

Asked by Vinod Ohri

So far NO NO NO significant hits or I would say hits or gains per se... When we placed the import order dollar was maybe 85.5 86, right? When those bills got filled due for payment, they got executed at maybe 91-92. some some bills we hedge, some bills we don't... So on the currency we have taken a hit, right.

Addresses the impact of commodity and currency fluctuations on profitability, indicating that while there were some hits, overall management strategies helped mitigate significant losses.

Asked by Vinod Ohri

I think I've dealt a bit on this subject we are we are in the process. So this is a process how it works is, we need to take the consent of our stat auditor to make sure that any changes we make are compliant with the accounting standards. Then we will need to provide appropriate disclosures and notes on accounts to the shareholders because you know what will happen if I net it off, our standalone numbers will come down.

Clarifies the accounting treatment of other operating income (primarily scrap sales) and its implications for standalone financial reporting, emphasizing compliance and transparency.

Asked by Vinod Ohri