Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q1 FY27 revenue 107 Cr +36% y-y; EBITDA 23 Cr +9% y-y; EBITDA margin 21.3% - Domestic revenue 62 Cr +93% y-y; international 39 Cr -12% y-y; fenestration 6 Cr +127% y-y - FY27 revenue growth guidance ~25%; EBITDA margin 23-25%; PAT margin 18-20% - Order book 982 Cr as of July 31, ~2x last year revenue, visibility 18-24 months - Glass processing unit commissioning expected in 8 months; margin improvement ~1-1.5% - Export business shifted to DDP freight model; freight cost fully passed through to clients - Export revenue timing shifted to Q3/Q4; new markets Canada and Israel being explored - Domestic market share ~6-7%; second largest domestic player; diversified business model - Export and fenestration verticals introduced post-COVID; higher margin and faster realization - Order cycle 18-24 months; export projects shorter (~12 months); capacity fungible across verticals