Submission of Transcript of Earnings call held on October 15, 2026.

AI summary - Q2 FY27 consolidated revenue grew 53% y-y; EBITDA margin expanded to 14.4%, PAT rose 43% y-y to INR 9,900 mn - Wires and Cables revenue up 47% y-y; domestic wires grew 50% y-y with mid-to-high single-digit volume growth - FMEG segment grew 124% y-y; EBIT margin reached 10.1%, driven by solar products and premium mix - EPC segment revenue grew 53% y-y with 7.2% EBIT margin; order book around INR 9,000-10,000 Cr - Net cash INR 45.2 bn; working capital cycle improved to ~11 days, expected to normalize to 45-50 days - FY30 guidance: Wires & Cables EBITDA margin 11-13%; FMEG EBIT margin 8-10%; growth at 1.5x industry rate - Exports grew 17% y-y, 85% q-q; strong order pipeline across US, Europe, LATAM, Asia - EHV plant commissioning expected in FY28; solar business focused on inverters (trading), growing multifold - Competition from new entrants noted but no pricing action taken; market share gains continue - Copper sourcing 100% imports; no current plans for domestic sourcing