Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue $174.2M, +7.5% q-q, +6.3% y-y constant currency; EBIT margin 14.2%, highest in 10 quarters - Semiconductor revenue $19.3M, +8% q-q; EBIT loss due to R&D investments; breakeven expected FY28 - DLM revenue +26% y-y INR; order book highest ever with book-to-bill >1.6 - TAO Digital acquisition added $9.6M revenue; expected $100-110M run rate next 12 months - Order intake $158.4M, +21% y-y; €50M framework contract ramping over 1-2 years - Cost optimization supports margin despite wage hikes in H2FY27 - Transportation & mobility segment strong growth; defense and semiconductor are key growth areas - Free cash flow Rs.214 Cr, 140% PAT conversion; buyback Rs.720 Cr completed - Multiple analyst queries on Semiconductor supply constraints and margin impact; management expects supply to catch up with demand - Net hedge covers ~50% of next 12 months at average rate 95.6; 5-year loan for TAO acquisition at SOFR plus spread