Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue 487cr +9.5% y-y; H1 FY27 revenue 961.5cr +5.5% y-y - SLCM revenue Q2 at 395.8cr (+5.9% y-y), H1 at 783.5cr (+3.3% y-y); market share 75.5% in H1 FY27 - Non-SLCM revenue Q2 at 55.8cr (+64.7% y-y), H1 at 103.5cr (+31.5% y-y), driven by pumps and batching plants - EBITDA Q2 at 51.5cr (+13.7% y-y), H1 at 110.6cr (+3.7% y-y); PAT Q2 at 50.9cr (+30.4% y-y), H1 at 106.5cr (+16% y-y) - Price hikes: 2% in Q4 FY26, 1% in Sept 2026, 1% in Nov 2026; further 2% planned in Q4 FY27 - UDAAN series expanded to 20 states with 216 units in H1 FY27 vs 49 units last year - Export revenue grew 47% y-y in H1 FY27; key markets Kenya, Nigeria, Algeria; expansion plans for South Africa and LATAM - Operational focus on cost optimization, supply chain, and manufacturing efficiency amid commodity inflation - Demand outlook: improvement expected in H2 FY27; top 10 states contribute ~78% of SLCM volume - Shift in application mix: roads down to 40% share; factories, buildings, urban infra increased to 39% in FY27 YTD - Spares and services revenue stable but running hours down 25% y-y impacting growth - Financing stable with major financiers supporting retail and wholesale segments - Management emphasizes disciplined cash flow, strong balance sheet with 1150cr cash, and strategic growth initiatives