Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 sales volume up 10.1%, profits up 36%, EBITDA per kg INR46.5 (+18% y-y) - Pharma volume grew 26.3%, Food & FMCG 23.7%, Paints 9%, Lubricants down 12.3% - New pharma products and Iodex balm packs to start commercial production by Dec-Jan - Semiconductor tray business in early talks with top companies; production expected from 2028 - Vibe specialty closures to start commercial production by Apr-May FY28 with ~30% EBITDA margin - Capacity utilization near 70%, volume growth target 10%+ for FY27 - EBITDA margin target INR45-46 per kg maintained; INR50 margin targeted in 2-3 years - Export growth steady despite freight cost challenges; new pharma export client from Egypt expected - Capex ~INR75-80 Cr for FY27; strong operating cash flow and expected cash surplus - Multiple analyst queries on pharma and semiconductor product timelines; management confident on growth