Transcript of Investor Call of May 15, 2026

AI summary - Consolidated Q4FY26 revenue grew 24% y-y to INR1,050 Cr; FY26 revenue grew 11% to INR3,821 Cr - Consolidated Q4 core EBITDA rose 90% y-y to INR121 Cr; margin improved 400 bps to 11.5% - FY26 consolidated PAT grew 78% y-y to INR161 Cr; strong cash flow reduced net debt by INR156 Cr - Mattress volumes grew 13% in Q4 and 12% in FY26; U2O segment volume grew 65%, value 111% in FY26 - E-commerce sales grew 136% y-y on brand.com and 39% on platforms; Furlenco revenue grew 60% to INR370 Cr - Raw material prices volatile; price hikes taken to offset 25-35% polyol and TDI cost increase - Capex guidance for FY27 at INR125-150 Cr including maintenance and debottlenecking - Australia and Spain operations improved EBITDA margins to ~10%; Furlenco PAT INR60 Cr with 43% stake - Debt in India (~INR300 Cr) expected to be repaid in 1-1.5 years; consolidated interest cost ~INR50 Cr - Depreciation policy realigned to reflect asset useful life; FY27 consolidated depreciation ~INR140-145 Cr - Management focused on profitable growth, channel expansion, product line strengthening, and digital initiatives