Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q4FY26 consolidated revenue grew 18% y-y to INR 5,336 Cr; EBITDA rose 14% to INR 603 Cr with 11.3% margin - FY26 revenue up 17% y-y to INR 19,589 Cr; normalized EBITDA grew 16% to INR 2,182 Cr with stable 11.1% margin; PAT up 24% to INR 1,166 Cr - Strong growth in switches (+17% Q4), lighting (+13% Q4), casting (+14% Q4), seating (+23% FY26), and green mobility (+25% Q4) - Capex guidance for FY27 at INR 1,750 Cr; 7 of 11 projects to start or ramp up; new EV powertrain and sunroof segments to begin commercial operations - Net debt INR 2,179 Cr; ROCE 19.2%, ROE 19.1%; Board recommends final dividend INR 1.75/share - Management expects FY27 EBITDA margin around 11% ±50 bps despite startup costs and commodity inflation - Export revenues from India expected to grow from INR 600 Cr to over INR 1,500 Cr in next few years - Alloy wheel penetration approx. 70% in 2-wheelers, 40% in 4-wheelers; labor cost increases significant, with wage hikes up to 35% in some states - Strategic investments in EV powertrain plants with expected revenue multiples >2x capex; new infotainment JV with INR 600 Cr SOP by FY29 - Management working with customers for faster commodity price pass-through amid inflationary pressures