Transcript of the Earnings Call held on 17th July 2026 to discuss the financial results of the Company for the first quarter ended 30th June 2026.

AI summary - Q1 FY27 revenue growth strong despite inflation and West Asia uncertainties - Renewables reported separately; scaling rapidly with robust revenue growth - Calibrated price hikes of 7-8% on average taken to offset raw material inflation - Advertising spends more than doubled YoY, front-loaded in Q1, to normalize later - Switchgear international business (~15%) impacted by export disruptions, expected rebound in Q2 - Cables volumes flat; capacity ramp-up ongoing with raw material price volatility affecting sales timing - Lloyd AC volume growth single-digit; value growth higher due to price hikes - Contribution margin stable around 18.3%; margin improvement expected from operating leverage and product mix - Management confident on resilient demand and growth momentum for FY27 - Multiple analyst queries on pricing, margins, renewables growth, and A&P spend strategy