Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue 771cr +19% y-y; H1 revenue 1400cr +13% y-y - Q2 EBITDA 119cr +10% y-y; margin 15.5%; H1 EBITDA 218cr +4%, margin 15.6% - Q2 PAT 48cr vs 51cr last year; H1 PAT 87cr vs 98cr last year; PAT margin ~6.1% - Order book 13,000cr with 54% public, 46% private; new orders 2487cr in FY27 so far - Capex of ~135cr planned for FY27, mainly aluminum formwork; fixed asset turnover 4.7x - FY27 revenue guidance 4500cr; FY28 revenue target 4000cr; EBITDA margin guidance 15.5-16.5% - Working capital cycle improved by 11 days; contract assets ~77-78% of current year revenue - Commodity price escalation narrowing; margin improvement possible from Q4 if stable - NGT issues may cause ~45cr revenue loss in NCR; no major water supply issues expected - Strategic shift to 4 BU CEOs to improve execution and profitability - Promoter pledge reduced; net debt expected stable or slightly lower by Mar 2027