Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 consolidated total income grew ~38% y-y; EBITDA +31%; PAT +19% - H1 FY27 total income +34%, EBITDA +38%, PAT +42% y-y; export revenue +38% - Sales volume Q2: 133,374 tons (+18.1% y-y); H1: 256,093 tons (+13.5%) - Defence business: INR350 Cr order book; revenue expected in later FY27; 4 lakh shell capacity expansion on track - EBITDA margin impacted by ~150 bps due to fuel and freight costs in Q2 FY27 - Non-defence capacity utilization ~99%; volume growth guidance 15-20% y-y - Proposed amalgamation of Goodluck Defence and Green Energy with Goodluck India underway; completion expected in 12-16 months - Aerospace business investment INR80 Cr; target INR180 Cr revenue in 4-5 years - Defence EBITDA margin guidance 30-35%; peak revenue potential INR1,000 Cr+ by FY29 - Working capital cycle improved by 7 days; debt targeted within 2.5x EBITDA - Capacity expansions and debottlenecking ongoing in non-defence segments - Management confident of meeting defence revenue guidance of INR300 Cr for FY27