Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue ₹207bn +18.5% y-y; EBITDA ₹19.7bn, margin 9.5% (Q2 FY26: 13.9%); PAT ₹12.0bn, margin 5.7% - Domestic volumes grew 18.8% y-y; exports up 3.7% y-y, 38% q-q; export markets: Middle East 34%, Africa 18%, LatAm 26%, Mexico 20% - Bayon launched; Chennai plant capacity to exceed 90% with Bayon and new EV; EV launch planned Jan-Feb 2027 - FY27 domestic sales growth guidance 8-10%; H2 expected to outpace industry; rural contribution record 26.6%, CNG sales 19.1% - Commodity inflation impacted margins by ~400 bps y-y; sequential margin improvement due to operating leverage and cost savings - EBITDA margin guidance for H2 above 12%, aided by Tamil Nadu incentives, export growth, price hikes, and improved plant utilization - EV penetration targeted at 7-7.5% in next fiscal; 50% green powertrain portfolio (EV, CNG, hybrid) expected by 2030-32 - Multiple analyst queries on Bayon volumes, export strategy, commodity cost trends, and margin outlook addressed by management