Earning Call Transcript

AI summary - Q1 FY27 revenue 8,197 million INR, +172.1% y-y; PAT 853 million INR, +179.9% y-y, PAT margin 10.3% - AI segment revenue 5,105.7 million INR, 62% of total, +484% y-y - Order book 25,069.35 million INR, L1 8,480.47 million INR, pipeline 104,100 million INR; 60% pipeline conversion expected over 18-24 months - Operating EBITDA 1,205 million INR, margin 14.7%; ROCE 48.2%, ROE 44.6% - Inventory days increased to 110 due to raw material buildup amid strong AI demand - No major capex planned; current capacity supports 50-60% CAGR growth - R&D team of 125 focused on AI, physical AI, quantum computing; no revenue guidance yet - Pricing power maintained despite memory price inflation; margins stable within 13-14% guidance - Domestic AI infrastructure demand strong; exports not a current focus - Strategic orders now part of normal business; 16-20 weeks typical order execution cycle