Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue grew 46% y-y; H1 FY27 revenue excluding gold sale grew 76% - Q2 FY27 gross margin improved to 31.1% from 24.2% y-y; H1 FY27 gross margin at 33.2% - Q2 FY27 EBITDA margin rose to 23.8% from 18.7% y-y; H1 FY27 EBITDA margin at 26.3% - Q2 FY27 PAT grew 84% y-y with margin of 19.3%; H1 FY27 PAT grew 151% with margin 21.2% - Retail expansion: 3 new COCO stores launched including first outside Maharashtra; 6 EBOs operational - E-commerce platform launched to enhance digital presence; online sales limited but aids visibility - Management expects H2 FY27 growth in line with H1; festival seasons to support demand - Same-store sales growth targeted at 35-40% for SIS stores; EBOs to contribute meaningfully from Q4 FY28 - Capex per store approx INR2-2.5 Cr; inventory INR10-18 Cr depending on store size - Natural diamonds remain core focus; no current plans for lab-grown diamonds - Average selling price increased to INR1.05-1.07 lakh from INR92,000 last year - H2 typically accounts for ~65% of annual sales; current year cautious due to drought and inflation