General Updates

AI summary - Q2FY27 revenue grew 52.8% YoY to ₹1,421 mn; normalised EBITDA up 52.7% YoY to ₹588 mn; normalised PAT rose 52.2% YoY to ₹240 mn - Live subscribers increased 42.5% YoY; average occupancy improved to 85.9% - Normalised EBITDA margin steady at ~41% for H1 FY27; PAT margin ~17% - Operating cash flow was ₹1,100 mn in H1 FY27, 110% of EBITDA - Net worth rose to ₹4,662 mn post-IPO; net debt reduced to ₹1,306 mn - Normalised ROCE at 25.3%, well above 9.27% cost of debt - Capital expenditure up 140.6% YoY in H1 FY27, funded by cash flow and debt - Management focused on scaling via subscriber growth, asset utilisation, and technology - Cohort revenue multiples show strong long-term customer value - Warehouse and store network expanded to 24 warehouses and 96 stores across India