Transcript of the Earnings Call held on August 20, 2026 in connection with the Unaudited Consolidated and Standalone Financial Results of the Company for the quarter ended June 30, 2026.

AI summary - Q1 FY27 revenue grew 60% y-y to INR503 Cr; EBITDA INR100 Cr, margin 19.9% vs 11.5% last year; PAT INR66 Cr - Order book at INR1,778 Cr, up 30% since March 2026, with 41% international revenue share - EBITDA margin expected to sustain around 20% as pre-COVID levels; margin gains from operating leverage - Capacity utilization at ~75%, can scale to 85%; current capacity supports INR2,400-2,500 Cr turnover - New product launches include multi-layer coating line and high-speed circular loom - Export revenue share expected to stabilize around 50% going forward - Replacement demand currently 3-5%, expected to increase; majority of orders from capacity expansions - R&D spend steady at ~3%, focusing on automation and IoT products - Competitive pricing: export sales prices 12-15% higher than domestic; command 15-20% premium over Chinese players - Execution cycle for orders typically 6-9 months; service revenue ~2-3% of plant setup annually