Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue INR2,749 Cr +25% y-y; EBITDA INR280 Cr +15% y-y; PAT INR131 Cr +21% y-y - H1 FY27 revenue INR5,470 Cr +15% y-y; EBITDA INR565 Cr +12% y-y; PAT INR271 Cr +10.8% y-y - Order book at INR32,715 Cr, diversified; strong inflow INR5,968 Cr in Q2 and Oct 2026 - Capex INR150 Cr H1; FY27 capex expected INR150-200 Cr, potential INR1,500 Cr in FY28 for TBM - Data center segment ~15% of order book; revenue traction expected from Q4 FY27 - Margin guidance maintained ~10% for FY27 despite Q2 margin pressure - Pipeline of INR1.3 lakh Cr external and INR50,000 Cr group projects; targeting 20-25% revenue growth - Net debt-to-equity ~0.3x; raised INR1,400 Cr via QIP for capex, debt repayment, working capital - Management confident on order inflow, execution, and long-term growth with focus on mechanization