Intimation under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 - Transcript of the Earnings Conference Call

AI summary - Q2 FY27 consolidated revenue Rs. 934 Cr +42.5% y-y; EBITDA Rs. 69.14 Cr +54.8%, margin 7.4%; PAT Rs. 13.67 Cr vs Rs. 2.76 Cr - H1 FY27 revenue Rs. 2,950 Cr; double-digit volume and ASP growth in Room AC and washing machines - Room AC volume growth guidance ~20-25% for FY27; price increase cumulative ~15% expected by Jan - New manufacturing facilities operational: Salarpur campus, refrigerator plant at Sri City (start Q4 FY27), compressor plant at Supa (mass production FY27) - Electronics business grew 90.3% in H1; FY27 sales target Rs. 550-600 Cr - Strong order book across product lines; focus on execution and capacity ramp-up - Gross margins compressed due to commodity pass-through; per-unit margin stable - Incentives: Rs. 70 Cr PLI expected for FY27; state incentives ongoing - Compressor production target 1.5 mn units CY27; possible second line decision by Apr-May 2027 - Refrigerators capacity 1.2 mn units; FY28 production target ~700k - Export opportunities limited; focus on domestic and SARC markets - Cost control ongoing; operating leverage and PLI expected to improve margins in H2 FY27 - Working capital high due to commodity prices; finance cost stable - Backward integration progressing; compressor and copper tube imports banned post Mar 2027 - Technology for compressors currently imported; in-house development expected in 2-3 years