Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 consolidated revenue grew 26.2% y-y to INR4,762 Cr; standalone EBITDA margin 10.14%, up 101 bps q-o-q - Raw material costs rose 8-9% q-o-q in Q2; further 3-3.5% increase expected in Q3 - Replacement demand outlook H2: 2W double-digit growth, MHCV mid-single digits, passenger low single digit - CAMSO transition 85% complete; volume growth of 20%+ expected in H2 FY27; EBITDA neutrality targeted in H2 FY27 - Capex of INR493 Cr in Q2; full year capex guidance INR1,400-1,550 Cr including CAMSO - Debt to EBITDA at 1.93x; debt-equity 0.77x; working capital increased due to inventory and international receivables - Price hikes of 12-13% in replacement and 14-15% in OEM segments YTD; further hikes planned in Q3 - Premium tyre sales growing strongly; electrification OEM share 25% in PV, 30%+ in 2W - Freight and raw material inflation remain challenges; company managing costs tightly