Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue from operations INR15,093 crores +77% y-y; EBITDA INR9,285 crores +108% y-y; PAT INR6,412 crores +142% y-y - Zinc cost of production revised down to $825-$850/ton for FY27 from $975-$1,000; Q2 zinc COP at $703/ton - Mined metal production +5% y-y; refined metal production +7% y-y; silver production +20% y-y at 173 tons in Q2 - Growth projects on track: 250 KTPA zinc expansion and 10 mtpa tailing reprocessing progressing - Capex Q2: INR1,200 crores sustaining, INR700 crores growth; full year capex guidance INR5,000 crores - Net cash balance INR11,268 crores; free cash flow before growth capex INR6,389 crores in Q2 - Multiple analyst queries on cost guidance and silver production; mgmt confident on FY27 silver guidance of 680 tons - Ore grade in Q2 was 7.6%; domestic coal usage 32% - Byproduct sales: 10 KT lead concentrate sold in Q2 generating INR300 crores revenue and INR155 crores profit - ESG focus: 27% renewable energy in power mix, target 35%; first electric crane and cherry-picker introduced