Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue grew 22.9% y-y to INR 461.5 Cr; H1 revenue up 26.7% to INR 883.9 Cr - EBITDA rose 72% y-y to INR 41.6 Cr with 9% margin; H1 EBITDA margin expanded to 8.3% - PAT at INR 45.9 Cr in Q2 with 9.9% margin; includes INR 35.3 Cr exceptional gain - Price hikes and grammage corrections passed on 1.5% inflation impact; product mix improved - Distributor network expanded to 1,057; dual servicing in Gujarat at 43.5%, targeting 65-70% - New product launches planned for Q4 to improve margins and category growth - Besan plant at Nagpur started, expected to save INR 3 Cr annually in costs - Export, railways, and quick commerce channels growing; export INR 1 Cr monthly in Oct - FY27 guidance maintained: revenue INR 1,800-1,900 Cr, EBITDA margin 8.9% - Operating leverage benefit of ~1% margin seen; capacity utilization ~37-38% - Non-palm oil products to increase to 6.5% of revenue by FY28 for margin improvement