Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q1 FY27 revenue grew 15.5% y-y to INR72.33bn; EBITDA margin expanded 110bps to 12.5%; PAT rose 27.2% to INR6.53bn - All key categories grew double digits; premium and Essential series both contributed strongly - Export business grew 30% in Q1, now supplying 65 countries; exports are margin accretive - Sri City plant commissioning compressors in Q3 FY27 and RAC in Q4 FY27 to boost capacity and exports - Home Appliance segment revenue up 13.6%, EBIT margin steady at 11.5%; Home Entertainment revenue up 22.3%, EBIT margin expanded to 19% - Premiumization and calibrated price hikes helped margin expansion despite raw material cost pressures - B2B segment strong with 36% market share in LED signage and expansion in commercial ACs; targeting 20% CAGR - Localization at 55.2%, targeting 65% in 3-4 years; localization reduces currency exposure and cost - Data center cooling is a long-term B2B opportunity; currently mid-scale business live, hyper-scale in evaluation - Dividend payout deferred to preserve cash for INR5,000 Cr Sri City capex; plan to review dividend as cash generation strengthens