Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q4FY26 decorative volume growth 12.4%, value growth 10.2%; full coatings volume growth 12.7%, value 11% - FY26 decorative volume growth ~9%, value growth 4.3%; full coatings value growth 5.3% - Premiumization and B2B segments driving growth; 6,000+ new retail touchpoints added - Backward integration VAM-VAE project commissioning H1FY27, expected to enhance innovation and green paints - International business grew double digits; PBT margin improved 370 bps y-y to 8.5% in Q4 - Standalone Q4 net sales +10.3%, PBDIT +26%, margin 21.2% (+260 bps y-y); PAT +32.7% excluding exceptional items - Consolidated Q4 net sales +11%, PBDIT +24.4%, margin 19.4% (+210 bps y-y); PAT +34.1% excluding exceptional items - Dividend payout maintained at 60%, final dividend Rs 23/share; total Rs 27.5/share for FY26 - FY27 volume growth guidance high single-digit (8-10%); margin guidance maintained at 18-20% - Price increases of ~11% passed; further calibrated hikes planned balancing inflation and demand - Competitive intensity remains high with continued discounting; premiumization and cost efficiencies key to margin retention - Upstocking impact estimated 3-4% uplift in March sales; strong Jan-Feb volumes - Sustainability targets for 2030 being approached early; strong employee engagement reported