Transcript of Analysts/Investors Call Pertaining to the Un-audited Financial Results for the quarter ended on June 30, 2026.

AI summary - Q1 FY27 net sales grew 23% to INR3,185 Cr; EBITDA rose 39.5% to INR415 Cr; PAT up 40% to INR274 Cr - Operating margin improved to 12.43%, EBITDA margin at 13.04% vs 11.49% YoY, driven by product mix and efficiencies - Domestic wire and cable sales grew 29%, exports declined due to Middle East conflict and US customs issues but expected to rebound - Sanand plant capex at INR1,722 Cr with INR300 Cr more planned this year; capacity utilization at 72% cables, ramp-up ongoing - FY27 capex guidance INR600-700 Cr annually for 3-4 years; targeting 20%+ growth over next 2-3 years - Extra high-voltage cable sales up 47%; EHV margin ~15%, higher than low/medium voltage cables - Export target 17-18% of sales for FY27; growth expected post Q1 disruptions - Management emphasizes disciplined capital allocation, cautious growth guidance despite strong demand - Multiple analyst queries on margin expansion, Sanand ramp-up, export outlook; management confident on sustaining 11-12% operating margin