Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 consolidated revenue grew 7.1% y-y to INR429.53 Cr; EBITDA up 10% to INR64 Cr; PAT rose 8.2% to INR35.57 Cr - H1 FY27 revenue grew 15.4% y-y to INR862.3 Cr; EBITDA margin at 15.0%; PAT margin stable at 8.7% - Logistics costs rose to 8.8% of revenue in Q2; expected to ease in FY28 aiding margin expansion - JV with DCX Chrome for 6,000 MT chrome metal plant in Visakhapatnam, production start targeted Q4 FY28 - FY28 EBITDA margin guidance 18%-19%, potentially reaching 20% with backward/forward integration and new product launches - Capex of INR190 Cr spent H1 FY27; INR300 Cr planned for next 12 months including DMSO and chrome oxide expansions - South Africa mining operations to start shipments from Q4 FY27, aiding raw material supply - Strontium carbonate capacity utilization expected to reach 70% by FY28; barium business margins stable - Multiple analyst queries on logistics cost impact and margin trajectory; management expects improvement from Q4 FY27 onwards