Please find enclosed the Transcript of the Earning Conference Call held on 19th August, 2026

AI summary - Q1 FY27 revenue 60.95 Cr +35% y-y; EBITDA 11.52 Cr +25% y-y; PAT 6.86 Cr +45% y-y - Near-term order book expanded to 150+ Cr, providing strong revenue visibility - Capacity utilization currently 50-60%, targeting 80% by FY27 end - Working capital cycle targeted to improve to 60-70 days by FY28 via product mix shift - FY27 revenue guidance of 300 Cr on track; exploring growth in railways, defence, shipbuilding - Defence and shipbuilding expected to contribute 10-15% of revenue by FY28 - EPC business targeted at 100-150 Cr orders with 15-20% margins, execution over ~2 years - Focus on profitable growth, cash flow improvement, and diversification across sectors