Transcipt of Post Earnings Conference Call of the Company for H2 and FY 2025-26 the held on Tuesday, May 26, 2026 at 3:00 P.M. is attached herewith and also uploaded on website of the Company.

AI summary - FY26 revenue grew 150% y-y; PAT up 64%; EPS rose 28% despite dilution - EBITDA margin improved to 26.3% in H2FY26 from 11% in H1; full year PAT margin 14% - Order book at INR270 Cr, 1.8x FY26 revenue; market share 64% in defence HVAC - FY27 revenue growth guided at 40% CAGR over 3-5 years; EBITDA margin expected 20-24% - Data centre cooling revenue to start FY28; reference installation targeted in FY27 - Capex of INR25 Cr for new plant phase 1; existing infrastructure supports INR400 Cr revenue - Working capital cycle improved from 570 to 370 days; further reduction expected - Commodity inflation factored in bids; some margin impact expected - Export plans at nascent stage, focused on marine segment - Entry barriers include triple certification and DGQA approvals for defence HVAC