Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - H1 FY27 revenue grew 30% to INR4,319 Cr; EBITDA nearly doubled to INR369 Cr with 8.6% margin; PAT grew 4x to INR161 Cr - Q2 FY27 revenue up 19% to INR1,900 Cr; EBITDA margin improved 180 bps y-y to 6.9% - Mobile phones led Q2 growth at 31%; air conditioners grew 52% due to extended summer - South cluster revenue up 28% with 9.3% EBITDA margin; North cluster revenue up 45% with margin improving to 3.4% - Store count at 229 with 6 net additions in H1; expansion into West Bengal planned from mid-November - Gross margin expanded by 210 bps in H1 to 16.4%, aided by price escalations and product mix - Working capital days improved to 61; operating cash flow up 41% to INR384 Cr in H1 - FY27 revenue growth guidance maintained at 18-20%; EBITDA margin guidance 7-8% pre-Ind AS - Festive season demand off to a strong start; Q3 expected to be better than Q2 with potential upside in Q4 if summer arrives early - Management highlighted premium product focus with value growth prioritized over volume growth