Please find enclosed herewith the transcript of the Earning Call held on October 27, 2026 on the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ....

AI summary - Q2FY27 net sales up 21% y-y to INR3,561 Cr; H1 sales up 21% to INR7,457 Cr - Grey cement volumes up 19.38% H1 at 11.3 mn tons; white cement volumes up 19% at 10.32 lakh tons - Q2 EBITDA INR500 Cr vs INR440 Cr last year; H1 EBITDA INR1,138 Cr, +2% y-y - Capex: Wall putty plant commissioned; Jaisalmer and Bikaner plants on track for H1FY28; Bathinda approvals expected soon - Paint plant expansion approved at INR130 Cr; paint business nearing break-even in FY27 - Net debt INR4,571 Cr; net debt/EBITDA 1.95; peak net debt expected ~INR6,000 Cr on 50 mn ton plan - Fuel cost expected to rise to ~INR2/Kcal in Q4; price hikes of INR20/bag in Oct; further INR10-15/bag hike needed post-Diwali - FY27 volume guidance 23 mn tons plus; aiming for 24 mn tons if conditions permit - Capex guidance INR3,500 Cr in FY27, INR2,500 Cr annually thereafter - Premium products yield ~INR150/ton extra profit; trade share and premium segment growing - RMC business scaling up; 23 plants operational, breakeven expected in ~6 months - White cement and putty capacity at 3.65 mn tons; utilization ~90% - Mahan coal block work started; operational by H1FY29; coal cost expected INR1-1.25/unit - EBITDA per ton among top 3-4 peers; Jaisalmer plant to support profitability - Packaging costs stable; no major maintenance costs in Q2 - Advertisement costs allocated fairly between paint, putty, and white cement businesses