As per the disclosure attached

AI summary - Q2 and H1 FY27: Individual adjusted first year premium grew 12% H1, 9% Q2; private market share steady at 10.1% - Total APE up 11% H1, 8% Q2; proprietary channel +9% Q2, e-com +29% Q2; partnership channels +11% H1, 8% Q2 - VNB grew 21% H1 to INR 1,180 Cr; VNB margin expanded 210 bps to 25.4% - MFSL revenue ex-investment income INR 17,484 Cr (+16%); consolidated PAT INR 219 Cr (+137%) H1 - Policyholder operating expenses improved 174 bps y-y to 13.7% of GWP; AUM at INR 2.06 lakh Cr (+11%) - Management confident on adapting to regulatory changes; expects margin expansion and growth acceleration in H2 FY27 - Annuity business grew 130% Q2; new variable annuity product contributed over 50% of annuity sales - Axis Bank channel grew 4% Q2; agency channel growth normalized with improved agent productivity - Persistency stable with long-term persistency at highest levels; ULIP persistency stress addressed by product discontinuation - Capital solvency at 197%; no immediate capital raise planned - Operating expenses expected to remain steady around 25% EoM ratio despite GST impact - Management expects regulatory EOM caps to reduce expenses by ~7% over 2-3 years with commission realignment and cost actions - Distribution mix diversified with 83% of business from channels expected to be minimally impacted by regulatory changes - Management confident of maintaining counter share at Axis Bank and gaining share under new regulations