Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q1 FY27 consolidated revenue grew 23% y-y to INR 3,708 million; EBITDA grew 29% y-y to INR 2,238 million with 60.4% margin (+270 bps y-y) - Certification volume rose 17% y-y to 3.56 million reports; ASP improved 5% y-y to INR 1,010 - India standalone revenue grew 22% y-y; EBITDA margin at 68.8%, expected to stabilize near 70% - AGL acquisition contributed 3% revenue and 2% EBITDA growth; expansion into colored stones and global markets ongoing - Lab-grown diamond capacity doubling over 3 years; US-led growth with rising consumer acceptance - EBITDA margin expected to improve by 100 bps by FY27 end on operating leverage - AI and machine learning deployed to reduce turnaround time and improve service quality - Natural diamond segment growing steadily; strategic focus on increasing market share globally - Commission payouts to subsidiaries reflect global retail engagement driving certification demand