Transcript of the Earnings Call for the quarter ended June 30, 2026.

AI summary - Q1 FY27 revenue at INR68.6 Cr (+436% y-y); positive EBITDA of INR4.3 Cr vs loss last year - Order book at INR256.8 Cr, targeting full execution by Q3 FY27 - Progress on combat drone tech: air-launched effects, fuel-hybrid ZOLT, YETI tethered hover test - DGCA Type Certification for Q6 V2 GEO UAV; six UAVs now certified - Raised INR500 Cr via QIP; INR151 Cr funding for YETI under Govt RDI scheme - Indian drone procurement pipeline strong with INR20,000 Cr fast-track and INR52,000 Cr DAC approvals - Supply chain challenges persist but no expected delivery delays - US market entry pending Blue sUAS certification; exploring partnerships in Europe, Middle East, Africa - Focus on technology sovereignty with in-house resilient comms, navigation, software, and payloads - Multiple analyst queries on order inflows, combat drone development, and inorganic growth openness