Please find enclosed Transcript of Analyst / Investor Conference Call

AI summary - Q4 FY26 consolidated revenue grew 14% y-y to INR 73.4bn; EBITDA margin 14.6% - FY26 consolidated revenue up 9% y-y; net debt/EBITDA improved to 0.4x from 3.2x in Mar 2020 - India Q4 revenue INR 52.4bn (+14.3% y-y), EBITDA margin 14.6% vs 11.2% last year; strong volume growth in replacement and OE - Europe Q4 revenue EUR 170mn (-1% y-y), EBITDA margin 14.6%; Enschede plant closure on track with EUR 43mn non-cash write-off - FY27 CapEx INR 35bn, ~80% for growth and capacity expansion; price hikes of 6-8% announced in India with more expected - Raw material costs expected to rise mid to high teens sequentially; margin pressure near term, mitigated by price increases - Europe margins expected to improve post H1 FY27 as restructuring benefits materialize - Market share gains in TBR replacement and passenger car replacement segments in India; exports growth muted due to geopolitical issues - Net debt/EBITDA for India improved from 1.1x to 0.7x; tax rate reduced to 25% from 34% effective FY27 - Capacity utilization at 90% in India and Europe; demand outlook strong but geopolitical volatility remains