Transcript of the Conference Call held on 23rd October, 2026, relating to Financial Results of the Company for Quarter ended 30th September, 2026.

AI summary - Q2 FY27 India sales volumes rose 18% y-y to 9.31 mn tons; realization up 1% to INR4,870/ton - Consolidated EBITDA increased 4% y-y to INR1,016 crores; EBITDA/ton declined to INR966 due to higher fuel cost - UAE subsidiary commissioned 3 mn ton cement mill; total UAE capacity now 7 mn tons - Ready-mix concrete volumes grew 153% y-y to 2.73 lakh cubic meters; business EBITDA positive - Green electricity accounted for 65.2% of total consumption; green power capacity at 667 MW - FY27 volume growth expected slightly above industry (7-10%) despite weak monsoon - Capex H1 INR895 crores; H2 expected INR700-800 crores; net cash INR8,168 crores - Premium cement share reached 29%, targeting 40%+; new waterproofing cement launched - Fuel cost INR2.09/kCal in Q2; expected INR2.15-2.20 in Q3; pet coke use down to 11% - New Meghalaya plant on track for Mar 2028 commissioning - Freight costs reduced due to rail discounts and process improvements - Alternate fuel consumption increased to 5%, with plans to improve further - UAE volumes expected 4-5 mn tons annualized; new capacity utilization to ramp over 2-3 years