Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 industry E2W registrations grew 82% y-y, pan-India penetration crossed 11.2% - Ather's wholesale volume grew 42% y-y to 93,000 units; registrations up 60% y-y to 92,500 units - Average ex-showroom price rose INR14,000 to INR164,000; AtherStack Pro attach rate 94% - Gross margin improved 5.3% structurally; commodity inflation hit margins by 9.4% - EBITDA margin improved 1450 bps y-y to 4.9%; first positive PAT recorded - Capacity expansion approved: Hosur +6,000 units/month Q4 FY27; AURIC Phase 1 +12,000 units/month by Q2 FY28 - Konarc launch phased by geography and variant; strong early demand and positive customer response - No price hikes planned in Q3 FY27; commodities currently stable - Non-vehicle revenue at 15%, with AtherStack Pro margins near 80-90% - Electric motorcycle launch timeline not disclosed