Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q1 FY27 consolidated revenue INR1,983 million +4.2% y-y; EBITDA INR333 million +17.3% y-y; EBITDA margin 16.8%; PAT INR194 million -1.4% y-y - EEI segment revenue grew 34% y-y with EBITDA margin expanding 520 bps to 24.8%; PAT margin improved to 16.4% - Lumel S.A. revenue INR639 million +39% y-y; adjusted EBITDA INR153 million +175.3% y-y; PAT INR115 million +321.1% y-y - Lumel Alucast revenue declined 41.2% y-y; adjusted EBITDA margin negative 6.4%; expected breakeven by FY27 end - Solar inverter business gained operational profitability; launched new 3-phase iNEO models up to 12 kW; hybrid inverters under development - India standalone revenue grew 25.6% y-y with EBITDA margin 22.9%; strong export demand and product mix - U.S. and U.K. businesses grew over 40% y-y; plans to scale U.S. market organically and via inorganic opportunities targeting INR100 Cr in 2-3 years - New Nashik manufacturing facility partially commissioned to increase capacity 2.5x; Rishabh TMI Experience Center opened for customer engagement - Multiple analyst queries on EEI growth sustainability; management confident in 20-25% growth guidance for FY27 - Net debt-free with cash and equivalents INR1,606 million as of June 30, 2026