Earnings Call Transcript Summaries

Patanjali Foods Limited PATANJALI Q1FY27 📝 Transcript · Fast Moving Consumer Goods

Filed 24 Aug 2026

Volume growth ~5-8% and pricing inflation ~12% in foods segment in Q1 FY27
Staples revenue >INR1,000 Cr; cautious outlook due to weather and rural demand risks; FY27 staples growth guided 8-10%
Full-year guidance: edible oil volume growth 3-5%, FMCG growth 8-10%, beauty & personal care ~15%, overall EBITDA margin growth 10-12%
Q1 FY27 standalone revenue INR11,337 Cr +29% y-y; Operating EBITDA INR543 Cr, margin 4.80%; PBT INR453 Cr, margin 4%
HPC revenue INR629 Cr; dental care INR325 Cr, skin care INR165 Cr; FMCG EBITDA growth guidance 12-15% for FY27
New product launches ongoing with ~60% success rate; e-commerce and quick commerce channels growing 25% y-y, targeting 20% revenue share

Susan Electricals India Ltd 544793 Q1FY27 📝 Transcript

Filed 22 Aug 2026

FY27 capex planned at INR 15-20 Cr mainly for machinery and factory expansion
EBITDA margin improved to ~11.9% in Q1; expected to maintain/improve with product mix shift
HT & MVCC cables contribution targeted to rise from ~5-10% to ~50% by FY27 year-end
Capacity expansion on track for Feb 2027; adding 4,500 Km p.a. (+60% capacity)
Order book ₹142.39 Cr (3 months execution), pipeline ₹150 Cr; bidding ₹800-1,200 Cr tenders
Management expects sustained growth momentum supported by strong power sector demand

Mishra Dhatu Nigam Limited MIDHANI Q1FY27 📝 Transcript · Capital Goods

Filed 22 Aug 2026

Margin compression in Q1 due to LPG price surge and raw material cost inflation; normalization expected by Q3 FY27
Metal bank implementation expected by Q2 FY27 to mitigate raw material supply and cost volatility
Capex of ~Rs. 1,000 Cr planned over 2-3 years; benefits expected after 3-4 years stabilization
Q1 FY27 turnover Rs. 239.49 Cr +40.46% y-y; EBITDA Rs. 46.6 Cr +12.89% y-y; PAT Rs. 16.31 Cr +27.42% y-y
Export target ~10% of turnover, expected to grow 10-15% annually over next 3-4 years
Focus on indigenization and certifications to replace imports and serve global OEMs; approvals expected within ~1 year

Olectra Greentech Limited OLECTRA Q1FY27 📝 Transcript · Automobile and Auto Components

Filed 21 Aug 2026

Truck segment nascent; pilot deployments ongoing; targeting 20-25% market share in FY28
New generation bus and truck platforms launching Q4 FY27 with INR450 Cr capex over 18 months
Raw material cost pressures in Q1 easing; margins expected to stabilize around 12-15% band
Q1 FY27 revenue grew 66% y-y to INR575.5 Cr; EBITDA up 30% to INR72.9 Cr; PAT rose 4% to INR23.2 Cr
EV bus market adoption at 7% in Q1; company targets 2,000-2,500 bus deliveries in FY27
Management confident of ramp-up to 600-700 bus deliveries per quarter by FY27 end

UFLEX Limited UFLEX Q1FY27 📝 Transcript

Filed 21 Aug 2026

Volume expected to double by FY29 with ramp-up of new facilities; debt-to-EBITDA ratio reduced from 4.5x to 3.5x, targeted below 3x by FY28
FY27 guidance: 35% growth in top line and EBITDA; margins sustainable at 15.5% normalized EBITDA; long-term growth supported by capex ramp-up and geographic diversification
Capex of Rs. 4,782 million in Q1 across Egypt aseptic plant, Mexico WPP bags, Noida recycling, Dharwad BOPP line; Egypt aseptic commissioning on track for FY27
Q1 FY27 consolidated revenue grew 38% y-y to Rs. 53,972 million; EBITDA rose 92% y-y to Rs. 9,198 million with 17% margin, highest in 21 quarters
Pricing stable with BOPP and BOPET prices up 25-35% since Feb 2026; raw material prices normalizing; value-added products driving margin expansion
Packaging Films volume grew 4.9% y-y; overall packaging volume declined 8.4% due to strategic product mix shift and market softness

MM Forgings Limited MMFL Q1FY27 📝 Transcript

Filed 21 Aug 2026

Capacity utilization rising; targeting 1 lakh+ tons annual run rate in FY27
Export mix stable; US market share ~18%, expected to grow slightly
Capex INR150 Cr in FY27; includes 16,500 ton press commissioning in Q4
Q1 FY27 net sales INR427 Cr (+16% y-y); EBITDA INR75 Cr (18% margin); PBT +30% y-y
EBITDA margin target 20%+ with 1-2% improvement potential
FY27 revenue guidance INR1,800-1,900 Cr (~18% growth)

QMS Medical Allied Services Limited QMSMEDI Q1FY27 📝 Transcript

Filed 21 Aug 2026

Q1 FY27 consolidated revenue INR56.9 Cr, +22% y-y; EBITDA INR8.3 Cr, +27% y-y; PAT INR4 Cr, +25% y-y
EBITDA margin improved to 14.6% vs 14.1% in Q1 FY26 and 13.3% in Q4 FY26
Saarathi Healthcare 76% owned; full acquisition expected by Q2 FY27
Q Devices revenue INR3 Cr in Q1; targeting 10-15% contribution in FY27 and 20-25% of product revenue in 3 years
FY27 service revenue guidance INR90-100 Cr; total revenue guidance ~INR220 Cr maintained
Employee expenses increased due to PSP hiring; expected stable run rate with possible increases on new contracts

Diamond Power Infrastructure Limited DIACABS Q1FY27 📝 Transcript · Capital Goods

Filed 21 Aug 2026

Capacity expansions: 2 aluminum corrugation lines, 2 medium voltage lines commissioning FY27; 6th CCV line by Dec 2027
Q1 FY27 revenue INR690 Cr +129% y-y; EBITDA INR85 Cr +172% (12.3% margin); PAT INR58.5 Cr +191% (8.5% margin)
FY27 revenue guidance INR4,300-4,500 Cr; margin guidance 11-13% depending on metal prices
Data center cable sales targeted at INR750 Cr in FY27, INR1,500 Cr in FY28 (20% of cable revenue)
Export team building; first export orders expected Q3/Q4 FY27 targeting Europe and US
Utilization expected to rise to 40-52% in FY27 and ~60% in FY28

KRBL Limited KRBL Q1FY27 📝 Transcript · Fast Moving Consumer Goods

Filed 21 Aug 2026

Domestic revenue grew 14% YoY; 10% domestic volume growth guidance for FY27
Gross margin 36.3% in Q1 FY27 vs 25.7% last year; EBITDA margin 23.8% vs 13.9%
FY27 EBITDA margin guidance 17-18%, gross margin ~30%; margins not sustainable at Q1 levels
Q1 FY27 exports revenue declined 50% YoY due to Middle East disruption; non-Middle East exports grew 37%
Export volumes expected to recover progressively from Q2 as West Asia shipping stabilizes
Multiple analyst queries on export recovery and margin sustainability; management expects export growth and calibrated pricing

Travel Food Services Limited TRAVELFOOD Q1FY27 📝 Transcript · Consumer Services

Filed 21 Aug 2026

Q1 FY27 system-wide sales grew 18% y-y to INR8.4bn; consolidated PAT rose 35.6% y-y to INR1.3bn
EBITDA INR1.6bn, up 11% y-y; EBITDA margin 35.8%, impacted by higher employee and operating costs from new outlets
50 outlets under development expected to contribute over next 12-18 months as they ramp up
Management expects H2 FY27 to see passenger traffic bounce back and earnings uplift from new outlets
Multiple analyst questions on contract economics, cost inflation, and highway expansion strategy; management emphasized disciplined capital allocation and medium-long term highway opportunity
Consolidated revenue from operations up 20.6% y-y to INR4.5bn; like-for-like sales growth 4.2%

Ashok Leyland Ltd ASHOKLEY Q1FY27 📝 Transcript · Capital Goods

Filed 21 Aug 2026

Q2 margin outlook challenging due to commodity costs; relief expected from Q3; pricing and cost-saving levers active
Domestic MHCV industry growth expected to accelerate beyond Q1's 13%, with July and August >20%
Regulatory costs expected but managed via TCO focus; BS7 implementation unlikely before 2031
Q1 FY27 revenue reached INR 9,634 Cr, +10% y-y; EBITDA flat at INR 970 Cr; PAT INR 609 Cr, +3% y-y
Domestic MHCV volume +15% y-y; LCV volume highest ever Q1 at +21% y-y; exports down 18% due to UAE plant issues
Network expansion with 33 new touch points in Q1, strong market share gains in North and Central regions

Premier Explosives Limited PREMEXPLN Q1FY27 📝 Transcript

Filed 20 Aug 2026

EBITDA margin target remains 15-20% for FY27; raw material costs pressured Q1 margins
Capex progress: RDX/HMX plant water trials expected Sep 2026; mixer plant commissioning by end Sep
FY27 revenue guidance maintained at INR600 Cr despite weak start
Q1 FY27 revenue declined 28% y-y to INR102.6 Cr due to dispatch and project delays
Export licenses backlog being cleared; export revenue target INR150-200 Cr in Q2 FY27
Order book at INR1,393 Cr with 94% from Defense segment

Black Box Limited BBOX Q1FY27 📝 Transcript · Information Technology

Filed 20 Aug 2026

Q1 FY27 revenue 1719 Cr INR +24% y-y; EBITDA 160 Cr INR +38% y-y; PAT 56 Cr INR +18% y-y
FY27 guidance: revenue 7800-8000 Cr INR (+23-27%), EBITDA 725-750 Cr INR (+27-32%), PAT 300-325 Cr INR (+38-50%), EBITDA margin 9.3-9.4%
FY27 cash flow to EBITDA conversion expected to improve; investments in talent largely done
Large hyperscale data center projects drive growth; execution scale and customer trust are competitive moats
Non-data center business expected to grow ~10% with lagged impact from data center investments
Management confident in sequential quarterly growth and achieving FY27 guidance

Thomas Scott (India) Limited THOMASCOTT Q1FY27 📝 Transcript

Filed 20 Aug 2026

Q2 positive consumer sentiment; festive season expected to boost growth and pricing flexibility
Pricing strategy focused on protecting realizations; subdued price elasticity in Q1 due to cautious consumer sentiment; marketing spend increased for better ROI
AI and data-driven platform evolving to optimize demand forecasting, inventory, and pricing
Q1 FY27 revenue 66 Cr +22% y-y; EBITDA 9 Cr +43% y-y; EBITDA margin 13.07%; PAT 5 Cr +54% y-y; PAT margin 8.21%
Insurance claim from fire incident pending; debt elevated due to working capital loans; normalization expected post claim
Manufacturing capacity fully utilized; ongoing capacity additions; in-house manufacturing ~50%, outsourced ~40%

LG Electronics India Limited LGEINDIA Q1FY27 📝 Transcript · Consumer Durables

Filed 20 Aug 2026

Sri City plant commissioning compressors in Q3 FY27 and RAC in Q4 FY27 to boost capacity and exports
Dividend payout deferred to preserve cash for INR5,000 Cr Sri City capex; plan to review dividend as cash generation strengthens
Q1 FY27 revenue grew 15.5% y-y to INR72.33bn; EBITDA margin expanded 110bps to 12.5%; PAT rose 27.2% to INR6.53bn
Premiumization and calibrated price hikes helped margin expansion despite raw material cost pressures
B2B segment strong with 36% market share in LED signage and expansion in commercial ACs; targeting 20% CAGR
Localization at 55.2%, targeting 65% in 3-4 years; localization reduces currency exposure and cost

Tube Investments of India Limited TIINDIA Q1FY27 📝 Transcript · Automobile and Auto Components

Filed 20 Aug 2026

Steel price inflation caused margin pressure; full price recovery expected in coming quarters
Capex Rs.350 Cr planned for TI, Rs.100 Cr for Shanthi Gears in FY27
CDMO 200KL reactor commissioned; commercial inspection expected next financial year
EV segment volumes up; losses reduced; one business breakeven expected FY27, two in FY28
Q1 FY2027 standalone revenue Rs.2,366 Cr +18% y-y; PBT Rs.213 Cr vs Rs.222 Cr y-y; ROIC 41% vs 39%
Engineering segment revenue Rs.1,566 Cr +21% y-y; EBIT stable at Rs.153 Cr

Voltas Limited VOLTAS Q1FY27 📝 Transcript · Consumer Durables

Filed 20 Aug 2026

Projects segment order book Rs 6,345 Cr; focus on shorter gestation, value-accretive orders
Capex for FY27-28 mainly maintenance; major JV capex expected FY28-29
Multiple analyst queries on compressor JV details, margin outlook; management optimistic on gradual margin improvement
Q1 FY27 consolidated revenue Rs 4,765 Cr +18.5% y-y; PAT Rs 213 Cr +51% y-y
UCP EBIT margin improved to 5.3% from 3.7% last year; cost inflation largely passed on
Channel inventory steady at ~4 weeks; cautious restocking expected for festive season

AXISCADES Technologies Limited AXISCADES Q1FY27 📝 Transcript · Capital Goods

Filed 20 Aug 2026

Q1 FY27 consolidated revenue 346 Cr (+42% y-y), net loss 14.8 Cr due to divestment costs
Aerospace manufacturing revenue 6.1 Cr; acquisition expected Q2 FY27 to add 180 Cr revenue, 22% EBITDA margin
FY27 revenue guidance 1,377 Cr continuing operations; EBITDA target 270 Cr; PAT ~135 Cr
Strategic partnerships in space and manufacturing ongoing; announcements expected soon
Capex aligned with divestment inflows; bridge financing ~100-150 Cr planned
Retained business revenue 183 Cr (+94% y-y), normalized EBITDA 41 Cr (11.8% margin), normalized PAT 20.2 Cr

Rishabh Instruments Limited RISHABH Q1FY27 📝 Transcript

Filed 20 Aug 2026

Q1 FY27 consolidated revenue INR1,983 million +4.2% y-y; EBITDA INR333 million +17.3% y-y; EBITDA margin 16.8%; PAT INR194 million -1.4% y-y
Lumel Alucast revenue declined 41.2% y-y; adjusted EBITDA margin negative 6.4%; expected breakeven by FY27 end
India standalone revenue grew 25.6% y-y with EBITDA margin 22.9%; strong export demand and product mix
U.S. and U.K. businesses grew over 40% y-y; plans to scale U.S. market organically and via inorganic opportunities targeting INR100 Cr in 2-3 years
Multiple analyst queries on EEI growth sustainability; management confident in 20-25% growth guidance for FY27
New Nashik manufacturing facility partially commissioned to increase capacity 2.5x; Rishabh TMI Experience Center opened for customer engagement

IOL Chemicals and Pharmaceuticals Limited IOLCP Q1FY27 📝 Transcript

Filed 20 Aug 2026

Q1 FY27 revenue INR756 Cr +37% y-y; EBITDA INR111 Cr +60.7% y-y; PAT INR64.5 Cr +89.9% y-y
FY27 guidance: 15-20% revenue growth, EBITDA margin 14-15%, exports 25-30% of revenue
Broad-based pharma growth driven by higher capacity utilization (80-95%) and operational efficiency
Chemical segment margins improved; capacity increased for ethyl acetate and acetic anhydride
Capex ~INR200 Cr annually; 60% for expansion/new products, 40% for efficiency
Management confident in sustaining growth and margin expansion; no material one-offs in Q1

🎙 Transcript Summaries