Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 total income grew 10% y-y to INR1,344 Cr; EBITDA rose 46.4% to INR117.7 Cr; PAT up 201.8% to INR74.1 Cr - H1 FY27 EBITDA margin expanded to 9.9% from 7.1%; PAT margin improved to 6% from 3.1% - Net debt reduced 23.5% to INR852 Cr; debt-to-equity improved to 1.31x; ROE at 38.2%, ROCE 27% - INR200 Cr specialty filament and fiber expansion planned, targeting 15% revenue and 20% EBITDA growth with <2 years payback - Domestic PTA capacity additions expected to reduce import dependence and improve margins by 2-3% - EBITDA margins of ~9.9% maintained last 6 months; management expects double-digit margins in FY28-FY29 - Capacity utilization: PET chip plant at 60%, filament and fiber at 100%; volume expected to rebound to 475k tonnes next year - Export share fell to 6% from 20-25% due to raw material sourcing; expected to rise with India-UK/EU/US trade agreements - Specialty products to include cationic, dope dyed, colored yarns; fiber line restart planned for specialty fibers - No plans to enter fabric/weaving; sourcing synergy with sister companies for spandex raw materials - Management confident of sustainable profitability due to anti-dumping duty withdrawal, improved domestic raw material availability, and textile export growth