Key Points of the call:

The auto industry had a pretty much flat year. The passenger car industry had a flat or a decline in sales. Domestic passenger car industry grew 2.6% in Q3.

Company's EBITDA margins on a year-to-date (YTD) basis are definitely a lot higher than what they were last year. It is higher by almost 16% at 13.4%

Q3 PAT decline was due to some accounting methods related to depreciation.

In terms of revenue breakup on standalone basis, 49% was from Maruti, 14% from M&M, 11% from subsidiaries, 4% each from Tata Motors and Toyota Kirloskar, 9% exports.

On consolidated basis, Maruti is 41%, M&M is 9%, 9% from Honda and 7% from Tata Motors.

The management is hopeful of better days and expects the company to see a sales growth of more than the industry in FY16.

Q3 PAT margins are lower mostly because of depreciation. The new depreciation laws that it has have sort of put in and therefore the PAT margins look a lot lower than what they should be.

EBITDA margins are pretty good, they are healthy. They are about 13.5% which on a consolidated basis is a good EBITDA margin. Of course it could go up higher and the focus is on that.

Raw material cost as a %age of revenues declined to 67.0% in Q3FY15 compared to 70.3% in Q3FY14 dueto localization of CEPS (Column-electric power steering) and synergies accrued from backward integration.

At the rate the company is going company will probably see about 3-4% sales increase this year. Next year the company is hoping this will of course grow more than this year but cannot disclose double digit figure.

Subsidiary has performed well. They are mostly supplying to Nissan as well as to Suzuki, as well as Honda. All the companies are doing well.

The company is hedged in terms of all imports. So, it does not see any impact at all in terms of currency fluctuations.

Total revenue increases by 3.0% YoY to reach Rs 11,333million in 9MFY15 driven by new launches such asBolt and robust performance for other key customers

In aluminium dye casting, the company installed a new 850 tonne new machine in January 2015. In this business, the company operated at 85% capacity utilization.

The company is in final talks with an North American client to supply 15,000 units of EPAM products.

Margins in EPAM (Electronic Power Assisted Modules) steering is 8-10% better than manual steering products.

The company has done Rs 45 crore capex till now this year.

December and January has been better than expected. Maruti is pushing sales into the rural markets which is definitely positive. Honda and Maruti are also coming out with new models.