Please refer enclosed file

AI summary - Q2 CY2026 orders up 50% y-y; revenue up 21%; PAT up 8%; operational EBITA up 23% - Strong backlog of INR11,900 Cr; 40% of order book executable in next 2 quarters - Electrification orders up 77%; profitability at 15% impacted by metal prices and forex volatility - Price hikes taken twice in quarter to offset commodity inflation; lag in price pass-through expected - Capex of USD75-80 million planned to maintain 15% capacity headroom for 15-20% sales growth - Data center segment pipeline strong; capacity expansion underway to meet demand - QCO compliance progressing with government extensions; localization aiding compliance - Market growth driving order growth; no significant margin pressure from railways segment - Macro uncertainties and commodity prices remain headwinds; mid-teens EBITDA margin guidance not yet comfortable