Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Consolidated Q2 revenue grew 44% y-y to INR1,176 Cr; H1 revenue up 38% to INR2,150 Cr - Core Business Q2 revenue +24% y-y; Energy Solutions grew 36%, Mobility Solutions 23%, Industrial Solutions +9% like-for-like - Greaves Electric Mobility Q2 volumes: 37k e-2W (+114% y-y), 2.8k L5 3W (+61% y-y); revenue doubled to INR410 Cr H1 - EV EBITDA loss per unit down 70% Q2 to INR6,300; EBITDA loss narrowed from -24% to -7% - Commodity cost pressures (Al, Cu, PGM) persist; price hikes underway, full benefit expected by Q4 FY27 - Excel Controlinkage now wholly owned; grew 30% in Q2; focus on higher value assemblies - New rare-earth-free motor developed in-house to launch in Q4 FY27, improving cost and performance - Capacity for EV at ~40k units/month, utilization ~40%; breakeven expected soon - Strategic focus on MHP gensets (160-750 kVA) with 35% growth and increased market share - Industrial Solutions expanding in firefighting engines and gasoline engines segments - Management prioritizes profitability improvement and disciplined capital allocation