Notes from Pix transmission AGM (Jul’23)
Pix is amongst top 7 companies globally in belts. More than 80 countries presence
Q- Revenue from Russia is growing – what is driving this and whether sustainable
A- due to sanctions, shifting to Pix
Sustainable – hard to go to some other brand
Once a brand is out of market then it’s a task to bring it back
For next couple of years, it will be a growing market
Q- Key developments in USA ?
A- Office set up in USA deferred due to weak economic scenario
Personal presence is needed for visibility
Negotiations on for new clients in USA
Other Notes:
Some EVs use belt
3.5k belt in EV bikes – currently imported from USA and
In 6-8 months should be able to add an oem in EV space
In next 3-4 years, will try to give belts for high end cycles since they also use belts instead of chains – new market will open up
Supplying belts to large MNCs for washing machines
Price hikes won’t be rolled back taken last year inspite of RM cooling off
EV belt is for big players only, small players cannot get into it
Couplings are bought out now, small business now. Providing it as a solution since past 1.5 years
Current plant can support 800-900 cr revenues
For next 2-3 years capacity is there
Faced initial teething challenges during expansion since overseas engineers didn’t come for trial run and installation – pix engineers had to do it online
Didn’t lose customer due to this
Current Capacity utilisation- 60%
Automation efforts being implemented – Employee reduction, consistency and efficiency to be increased
Will focus on taking market share to grow faster than industry
Disc – Invested
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