Strong all-round performance with record profitability and robust execution.
🔹 Financial Highlights
•Revenue: ₹60.9 bn (+18% YoY)
•EBITDA: ₹9.6 bn (+62% YoY); Margin: 15.8% (+430 bps YoY)
•PAT: ₹7.0 bn (+56% YoY); Margin: 10.7% (+260 bps YoY)
•Net Cash: ₹29.4 bn | WC Cycle: 33 days (to normalize to 50–55)
🔹 Segmental Snapshot
Wires & Cables: +21% YoY; strong domestic & export growth; premium mix, pricing power intact.
FMEG: Third straight profitable quarter; solar & lighting strong; fans soft; FY30 margin target 8–10%.
EPC: ₹4.0 bn revenue (–19% YoY); one-off lifted margin to 18.1%; normalized ~10%; strong H2 visibility with RDSS & BharatNet.
🔹 Strategic Highlights
•Project Spring: Ahead of FY30 targets — faster W&C and export growth.
•Capex: ₹7.5 bn in H1; FY guidance ₹12–16 bn.
•Dividend payout: 26.3% (target >30% by FY30).
•Utilization: Mid-70s; EHV project on track (revenue from FY28).
🔹 Outlook & Other Updates
•Macro tailwinds from govt & private capex; festive demand strong.
•US tariffs a short-term risk (20% of exports).
•CIT(A) cleared all tax demands (AY14–24).
•CFO transition: Niyant Maru appointed interim CFO.
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