Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Consolidated Q2 FY27 revenue grew 16% y-y to INR 79.7bn; EBITDA INR 8.6bn, margin 10.7% - India revenue +26% y-y; EBITDA margin 11.1% vs 15.3% last year; raw material costs up 25% y-y - Pricing actions of 13-15% taken in Replacement and OEM segments to offset inflation - Europe revenue down 12% y-y due to Enschede plant closure; PCR segment gained market share - Capex of INR 15bn in H1 FY27; net debt/EBITDA at 0.9x; financial position strong - Expect mid to high single digit volume growth in India in H2 FY27; pricing momentum to continue - Europe operations restructuring ongoing; normalized margins expected next financial year - Working capital expected to stabilize in H2 FY27; cost discipline remains a key focus - Multiple analyst queries on commodity inflation and pricing; management confident on margin recovery