Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - FY26 revenue 485.7bn INR +27% y-y; EBITDA 54.5bn INR +68% y-y; PAT 34.6bn INR +87% y-y - FY27 revenue growth guidance 30-35%; EBITDA margin guidance 10.5-11% - Capex INR350-400 Cr in FY27 including INR250 Cr for PCB multilayer line; PCB project commissioning expected FY28 - Exports grew 41% in FY26; FY27 export target INR150bn INR (+25-30%) with EU FTA benefits - ODM business grew 70% to INR8.25bn INR, targeting sustained 17% revenue mix - Working capital cycle improved to 63 days; focus on further reduction without sacrificing growth - Order book INR60bn with diverse verticals; 32 new customers onboarded with potential INR100bn+ revenue - Defense and MedTech segments growing; smart metering business moderate margin with longer working capital - Management cautious on margin guidance due to geopolitical and supply chain volatility; will revise if conditions improve