Summary: Q2 FY27 Financial & Operational Performance

Key Financial Highlights Revenue Growth: Consolidated revenue for Q2 FY27 rose 34.1% year-on-year to ₹294 crore (H1 FY27 revenue grew 33.2% to ₹550 crore). Profitability (PAT): Consolidated Profit After Tax surged 80.1% year-on-year to ₹63.33 crore, compared to ₹35 crore in Q2 FY26 (H1 FY27 PAT grew 52.4% to ₹110.05 crore). EBITDA Expansion: EBITDA jumped 70.3% year-on-year to ₹84 crore, with margins expanding significantly by 610 basis points to 28.6% (vs. 22.5% in Q2 FY26), reflecting strong operational efficiencies. Order Book Momentum: The consolidated order book stands strong at approximately ₹2,010 crore, offering high revenue visibility diversified across global utilities, transmission system operators, OEMs, and EPC contractors. Strategic Developments & Global Expansion Key Global Wins: Secured major international contracts, including a FACTS equipment order in Japan via subsidiary Endoks Enerji, 400 kV instrument transformer orders from Hitachi Energy India via subsidiary Mehru, and initial high-voltage interconnect orders for hyperscale AI data center campuses in the US. Proposed Acquisition: Executed a share purchase agreement on September 23, 2026, to acquire up to a 100% stake in Winwin Speciality Insulators Limited, following successful confirmatory due diligence. Winwin brings strong capabilities in porcelain and high-voltage (up to 800 kV HVDC and 765 kV) insulator applications. Outlook & Management Focus The management maintains an encouraging outlook, driven by secular tailwinds in global energy transition, grid stabilization, and digital infrastructure expansion. Management's primary strategic priorities center on seamless capacity ramp-up, timely execution of the ₹2,010 crore order book, and proactive management of raw material cost dynamics (particularly electrical-grade steel, copper, and specialized insulation systems) to protect operational margins.