Transcripts of Analysts/Investors Call pertaining to the Un-Audited Financial Results for the quarter ended on September 30, 2026.

AI summary - Q2 FY27 net sales grew 38.5% to INR 3,776 Cr; EBITDA margin 10.62%, PAT margin 6.95% - H1 FY27 sales grew 31% with EBITDA margin improving to 11.73% - Export order book strong at INR 991 Cr, with US orders ~50% - Sanand Phase 2 EHV cable commercial production to start by Mar-27; capex ~INR 600 Cr annually next 3-4 years - Capacity utilization H1 FY27: Cable 77%, House Wire 64%, Stainless Steel Wire 91%, Communication Cable 43% - Guidance: FY27 growth >25% CAGR next 3-4 years; EBITDA margin 11-12% as Sanand ramps - Working capital inventory to normalize by Mar-27; EPC segment losses to continue till closure - Long-term growth: 20%+ revenue CAGR, profit growth 3-4% higher than revenue, ROE ~19-20%, ROCE ~23-24% - Dealer network stable at ~2,146 active dealers; retail contributes 59% sales - Copper price volatility managed via natural hedge; prices passed through regularly - No guidance cut; margin guidance intact at 11-12% over FY27-FY28