Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2FY27 consolidated revenue Rs.4,850 Cr +20% y-y; EBITDA Rs.343 Cr +28% q-q; PAT Rs.60 Cr +40% q-q - Raw material costs up 9% q-q and 30% in last 6 months; further 4-5% increase expected in Q3 - Domestic volumes grew 22% y-y; OE +25%, replacement +20%; exports +14% q-q - Capacity utilization above 90% in key segments; capex ongoing with INR 1,130 Cr expansion and INR 5,000 Cr planned - Mexico subsidiary revenue Rs.479 Cr; EBITDA Rs.23 Cr; recovery ongoing with expected sales normalization in Q3-Q4 - Pricing increases of 7% q-q in Q2 and planned 4-5% hike in Q3 to offset inflation - Net debt increased to Rs.5,696 Cr due to capex and higher inventory from raw material price rise - Replacement market mix 60%, OEM 30%, exports 10%; truck and bus 56%, passenger car 28%, 2/3W 6%, others 10% - Demand outlook steady with healthy growth in replacement and OEM segments; EV volumes up 24% q-q - Management expects gradual margin improvement in Q3 despite inflationary pressures