Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue INR38,280 Cr +27% y-y; H1 revenue INR73,500 Cr +22% y-y - EBITDA Q2 INR3,353 Cr +23% y-y; margin 8.8% (-20 bps y-y); H1 EBITDA INR6,457 Cr +25% y-y; margin 8.8% (+20 bps y-y) - Normalized PAT Q2 INR1,175 Cr +37% y-y; H1 PAT INR2,207 Cr +45% y-y - Booked business at USD 106 billion, up from USD 96 billion in FY26 - Capex INR1,971 Cr in Q2; H1 capex INR3,585 Cr; full year guidance INR6,000 Cr ±10% - Emerging businesses growing; aerospace +20% y-y; consumer electronics ramping with new plant commissioning in Q4 - Acquisitions Autoelectric and Yutaka Giken integrated; combined ~$2bn revenue; margins currently lower but expected to improve - Cost pass-through ongoing amid commodity volatility; automation and cost optimization key margin levers - Geographic mix: India strong growth; global light vehicle production down; commercial vehicles resilient - Management optimistic on diversified growth and customer-driven acquisition strategy