Earning Call Transcript for the quarter ended September 30, 2026

AI summary - Q2 FY27 revenue ₹207bn +19% y-y, EBITDA ₹19.7bn, margin 9.5% (Q2 FY26: 13.9%), PAT ₹12bn, margin 5.7% - Domestic volumes grew 19% y-y and q-o-q; exports up 4% y-y, 38% q-o-q - Bayon launch and dedicated EV in Q4 FY27; EV penetration targeted at 7-7.5% in FY28 - Chennai plant capacity utilization to exceed 90% with Bayon and EV; full-year domestic sales growth guidance 8-10% - Commodity inflation impacted margins by ~400 bps y-y; expect margin recovery in H2 FY27 with price hikes, incentives, and cost savings - SUV mix rising in exports with new models; rural sales strong at 26.6% contribution - Multiple analyst queries on Bayon volumes, export growth, and margin outlook addressed with management confident on growth and margin improvement