Earnings Call Transcript

AI summary - Q1 FY27 revenue declined 28% y-y to INR102.6 Cr due to dispatch and project delays - EBIT fell 80% y-y to INR4.8 Cr; EBIT margin 4.7%; PAT down 80% y-y to INR3 Cr; PAT margin 3% - Order book at INR1,393 Cr with 94% from Defense segment - FY27 revenue guidance maintained at INR600 Cr despite weak start - EBITDA margin target remains 15-20% for FY27; raw material costs pressured Q1 margins - Export licenses backlog being cleared; export revenue target INR150-200 Cr in Q2 FY27 - Capex progress: RDX/HMX plant water trials expected Sep 2026; mixer plant commissioning by end Sep - Apollo Micro Systems acquisition to enhance defense electronics capabilities and growth - Multiple analyst queries on export licenses, order execution, and margin recovery