Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q1FY27 standalone revenue grew 19% to INR836 Cr; EBITDA margin expanded 12 bps to 20.40% - EBITDA increased 19.66% to INR170.58 Cr; PAT grew 22.47% to INR118.59 Cr - Export contributed ~3%, defense ~5% of Q1 revenue; full year export 6-7%, defense 5-6% expected - KATO JV to start revenue from Q3FY27; upgraded products from Q4FY27; export models localized 50-60% - Commodity inflation ~11-12% with 10% price hikes taken; aim to sustain margins, not expand - Capex guidance INR200-250 Cr for FY27; INR40-50 Cr for new defense facility with INR500 Cr turnover capacity - Growth drivers: inorganic growth, exports, domestic infrastructure and manufacturing expansion - Seasonal revenue split ~40-45% H1, 55-60% H2; demand stable but geopolitical risks and inflation create uncertainty - Mix shift expected to stabilize at 50-50 hydra and new generation cranes over 2-3 years - No major supply chain issues; some casting and engine supplier challenges resolved - No anti-dumping duty implemented yet; awaiting government decision