Submission of the Transcripts for Earnings call held on Wednesday, May 27, 2026

AI summary - FY26 revenue grew 30% to INR6,880 Cr; EBITDA INR820 Cr (+21%), margin 11.92%; PAT INR421 Cr (+28%) - FY27 revenue growth guidance 20-22%; EBITDA margin guidance around 11% - Order book INR16,361 Cr provides over two years revenue visibility; new order intake FY27 expected INR10,000-11,000 Cr - Tower capacity doubled; conductor capacity to double by H1 FY27; additional INR203 Cr capex approved for construction equipment - Supply chain disruptions and geopolitical tensions impact execution timing but revenue deferred, not lost - International orders ~50% of revenue; Africa ~20% of order book; Bangladesh ~3-4% - Working capital days improved to 81; net debt reduced by 30% to INR274 Cr; ROCE at 25.79% - 30-35% of contracts have price variation clauses allowing cost pass-through - Management confident of maintaining margins and growth despite global challenges