Earnings Call Transcript is attached.

AI summary - Q1 FY27 consolidated revenue grew 11.9% y-y to INR521 Cr; overseas revenue up 21.9% y-y to INR151 Cr - Gear division revenue up 16.3% y-y to INR416 Cr; EBIT margin resilient at 17.9% - MHE division revenue declined 2.9% y-y to INR105 Cr; EBIT down 25.3% due to mix and input cost - Consolidated EBITDA margin stable at 21%; PAT margin 13.5% (+2.3% y-y) - Order book strong at INR1,518 Cr (+36.8% y-y); order intake up 23% y-y to INR755 Cr - FY27 guidance: low double-digit revenue growth; EBITDA margin stable; capex INR400 Cr over FY26-28 - Overseas order book up 73% y-y to INR256 Cr; MHE overseas order INR21 Cr - MHE sustainable EBITDA margin guided at 22-24%; Gear EBITDA margin target ~24% - Commodity cost increased ~5% on average; price hikes taken; margin impact higher in MHE due to customization and project delays - Demand outlook cautious due to geopolitical risks; strong enquiry pipeline; execution delays in some MHE power sector orders expected to ease in Q2 - Mid-term target: INR5000 Cr revenue by FY30 with Gear ~70-75% and MHE ~25-30% share