Earnings call transcript - Q1 FY27

AI summary - Q1 FY27 consolidated revenue grew 24% to INR 4,215 Cr; lead acid up 22%, new energy up 70% - Tubular plant at 100% capacity; trading revenue 15% of lead acid revenue - EBITDA margin: standalone 10.1%, consolidated 9.6%; margin impacted by material costs and strategic investments - FY27 capex estimated at INR 1,700 Cr, mostly for new energy business; Giga 1 plant on track for H1 FY28 - Price hikes of 3% in Q1 and additional 2-3% planned to offset raw material cost increases - BESS plant capex INR 250-300 Cr, 10 GWh capacity; operating margin expected 5-8% - Lead acid volume growth guidance mid to high single digits; new energy business growing rapidly - Lithium-ion cell tech evolving moderately; R&D spend INR 100-150 Cr planned in FY27 - Export volumes down 20% due to Middle East freight issues; recovery expected - Warranty provisions increased due to higher raw material costs