Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 consolidated operating income INR 6,747 mn (-8% y-y); EBITDA loss INR 848 mn; net loss INR 828 mn - H1 FY27 operating income INR 13,752 mn (+4% y-y); EBITDA loss INR 530 mn; net loss INR 797 mn - Treatment Solutions Q2 revenue INR 1,498 mn (-49% y-y), EBIT loss INR 1,215 mn; legacy project cost overruns impacted results - Industrial Products Q2 revenue INR 1,360 mn (+35% y-y), EBIT INR 86 mn; growth momentum expected to continue - Specialty Chemicals Q2 revenue INR 2,546 mn (+17% y-y), EBIT INR 225 mn; margins pressured by input cost inflation and Roha plant costs - Consumer Products Q2 revenue INR 1,005 mn (+30% y-y), EBIT loss INR 41 mn; scaling operations with break-even expected this fiscal - Order book INR 29,690 mn; bid pipeline INR 93,700 mn; Hyundai international contract USD 52.83 mn with better margin profile - Management expects Treatment Solutions margins to normalize to higher single digits in H2 FY27 with revenue recovery - Roha plant backward integration commissioning expected by year-end; input cost pressures from West Asia crisis easing - Digital solutions business progressing positively, contributing to services segment growth