Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we are enclosing herewith the transcript of the Earning Call on the Financial Results of the Company for the second quarter ....

AI summary - Q2 FY27 standalone revenue ₹23,900 Cr +42% y-y; EBITDA ₹2,800 Cr +31%, margin 11.7%; PAT growth outpaced volume - Q2 wholesales 135,100 units +42% y-y; international business +177% driven by Indonesia order - Commodity inflation hit margins by 590 bps; offset by operating leverage and price hikes totaling ~6.5% in FY27 - EV volumes +143% y-y; SCV EV retail crossed 4,400 units in Q2; EV penetration in SCVs expected to reach 20% by Q4 FY27 - Free cash flow ₹4,600 Cr in Q2; net cash ₹11,300 Cr; capex ₹600 Cr in Q2; investment spend ~2.5% of revenue - Market share gains across segments; H1 overall market share 36.2%, HCV 55.7%, SCV 27.6%, CV passenger 41.1% - Indonesia order (~70,000 units) deliveries ongoing over FY27-FY28; international business margin accretive - Pricing actions: 1% Jan, 2% Apr, 2.5% Jul, 1-2% Oct; further commodity cost increase of 150-200 bps expected in Q3 - Supply chain constraints remain in EV aggregates and some commodities; targeted debottlenecking ongoing - Management confident of successful IVECO acquisition completion by Oct 30, 2026 settlement