Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY2027 consolidated revenue 345.1 Cr, +98.8% y-y; PAT 89.5 Cr, +50.7% y-y - Operational EBITDA margin 38.2% in Q2; H1 FY2027 margin 35.1%, guidance mid-30s for FY - Order book at 1375.7 Cr with new inflows 481.8 Cr in Q2; execution strong and growing - R&D focused on AI, robotics, anti-drone, command and control; no fixed R&D spend target - C-UAS orders delayed; FTP tenders expected by Q4 FY2027; strong govt interest in counter drone - Export efforts ongoing; US market compliance in progress; Europe demand linked to local content - Hyper Strike interceptor capacity 180,000 units/year; revenue expected FY2028-29 - Capex budget ~150 Cr for FY2027 and FY2028 - Working capital increased due to receivables and advances; company remains debt free - Multiple analyst queries on C-UAS order timing and export traction; mgmt expects orders post FTP