Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue INR 434 Cr (-2.3% YoY), EBITDA INR 62 Cr (14.2% margin), PAT INR 31 Cr (7.2% margin) - H1 FY27 revenue INR 809 Cr (-1.7% YoY), EBITDA INR 113 Cr (14% margin), PAT INR 57 Cr (7% margin) - Sequential Q2 growth: revenue +15.7%, EBITDA +18.8%, margin +37 bps - Expect double-digit same-store sales growth and revenue growth in H2 FY27 driven by festive and wedding season recovery - Inventory higher due to festive preparation; net debt negative with INR 249 Cr cash - Expansion: 6 new stores in H1 FY27; cluster-led growth with focus on Karnataka and Tamil Nadu - Silver jewellery business small and stable; no major expansion planned - Marketing efforts countering regional competition; price hikes passed selectively - KLM Fashion Mall format showing signs of recovery; interventions ongoing - FY27 revenue target INR 1,850-1,900 Cr with EBITDA margin guidance around 17.5-18% expected in H2 FY27 - Wedding calendar healthy with strong demand expected through Q3 and Q4 - Management confident of achieving annual targets despite H1 challenges