Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue grew 14.04% to INR1,512 Cr; PAT declined 20.5% y-y to INR39.56 Cr - Engineering division growth driven by fine blanking and stamping; EV product plant in Gujarat commissioning by late 2027 - Appliances division margin impacted by 4.3% increase in BOM cost; price hikes lag commodity inflation - Market share maintained in washers, refrigerators, ACs; front loader segment growing with product gap at 12kg - Capex of INR103 Cr planned for EV manufacturing in engineering; no demerger plans - Sales promotion expenses down to 4.58% of revenue YTD; focus on weighted distribution and key counters - EBITDA margin target of 10% in appliances challenged by commodity and forex; cost innovation ongoing - Associate IFB Refrigeration loss increased due to higher material costs - Net debt policy 1:1 debt to equity; cash positive balance maintained - Management confident of sustaining growth and improving margins with continuous efforts