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Nifty EPS & PE. EPS hit All Time High of 1185 Quarterly Result was above average & that puts Nifty 50 EPS at all time high. Nifty Still struggling 7.5% Below All Time High. Nifty PE is at comfortable level of 20.6 Nifty Last 5 Years Median PE is at 22, So that still give some Idea that there are chances that nifty may climb 6% from current price till next Quarterly Result. So as per this we can expect Nifty to hit 26k - 26.5K by next quarter from current price of 24,400. With lots of negative events nifty consolidating from last 3 months, now if global events remain stable then nifty upmove is imminent. Even if nifty touch 26K by next quarter, many midcaps & small caps will show good momentum as they are already above at all time high & shown good growth. #Nifty #Nifty50

AMAGI MEDIA LABS Q1 CONCALL 🤖📈 H2 Outlook • Business remains historically H2-weighted, with operating leverage improving as revenue scales • FY26 H1 contributed 47% of full-year revenue but only 37% of adjusted EBITDA, indicating stronger H2 profitability AI Expansion • Broader suite of AI products planned for launch in Q2 • AI offerings to expand beyond the news segment Near-Term Impact • Q2 YoY revenue growth faces ~600 bps headwind due to prior-year revenue recognition timing benefit Long-Term Focus • Durable revenue growth with improving EBITDA conversion • Focus on converting profitability into stronger cash generation

JOHN COCKERILL INDIA Q1 CONCALL 🏭📈 H2 Outlook • Significant H2 revenue improvement expected, driven by new project ramp-up • Earlier ~₹2,000 Cr revenue target may not be fully achieved, but management expects to come close • US entity consolidation to support revenue Order Pipeline • Robust pipeline across India, Asia, Europe & USA • Additional domestic & international order wins expected before year-end Profitability • H2 profitability expected to improve as projects mature • Organisational restructuring benefits expected to support margins • Higher contribution from high-margin services business to aid profitability Expansion • New China workshop for special machine & equipment assembly targeted to open in Q3 2026

HONASA CONSUMER Q1 CONCALL 📈🧴 FY27 Growth • Growth expected to exceed long-term high-teens CAGR guidance • Mamaearth expected to outperform its long-term double-digit CAGR trajectory Margins • FY27 EBITDA margin targeted to improve by 150–200 bps YoY • Long-term EBITDA margin target maintained at 15% Strategy • Growth-first approach continues with reinvestment in younger brands & new categories Costs • Crude oil & packaging costs rising, but Q1 impact was limited due to efficient inventory management • Calibrated price hikes taken towards Q1-end to offset inflation • Management does not expect material impact on gross margins

TATA MOTORS PV Q1 CONCALL 🚗📈 India PV Outlook • Higher double-digit volume growth targeted in FY27 • Festive demand expected to support volumes Margins • Q2 margins expected to remain flattish QoQ • Margin improvement expected in H2 as PLI benefits kick in • Commodity pressures to be managed through calibrated price hikes & faster cost reductions JLR Outlook • FY27 guidance maintained despite weak Q1 • Stronger performance required through the remaining year • Revenue growth target: ~10% annually, with US market a key focus EV Strategy • 4 new EV launches planned • EV mix expected to be neutral to margin-accretive PLI • Nexon EV & Harrier.ev currently PLI-qualified • Tiago EV, Punch EV & Sierra EV under certification • PLI benefits expected from Q3 • Entire eligible portfolio targeted to become PLI-accredited by Q4

AXISCADES Q1 CONCALL 🚀📈 FY27 Targets • Revenue: ₹1,377 Cr on annualised proforma basis • EBITDA: ₹270 Cr • PAT: ~₹135 Cr • Organic growth & acquisitions to replace divested EBITDA Defence • Defence business expected to grow 35%+ YoY for the next 3 years • Strong order visibility supports growth outlook Zeda (ECI) • Revenue growth targeted at 100%+ in FY27 • Growth driven by organic expansion & new business transfer Acquisitions • 2 acquisitions planned by Q2 FY27 — one each in Aerospace & Zeda • Another 2 acquisitions targeted by FY27-end • Total planned acquisitions: 4 Business Restructuring • Exit from loss-making AD Solutions business targeted by Q4 FY27

DIAMOND POWER INFRA Q1 CONCALL ⚡📈 FY27 Guidance • Revenue: ₹4,300–4,500 Cr • EBITDA Margin: 11–13%, expected to strengthen through the year • Execution expected to ramp up from Q2, with sharper growth in H2 FY28 Outlook • Revenue target: ~₹7,500 Cr • Capacity utilisation targeted at ~60% for both conductors & cables Growth Potential • Peak revenue potential of ~₹14,000 Cr within the next 3 years at ~75% capacity utilisation Margins • Higher-value MV & EHV cable mix expected to support margin improvement in Q3–Q4 Capacity Utilisation • FY27: Conductors ~40%; Cables ~50–52% Tax Benefit • Accumulated tax losses expected to provide tax benefits for at least the next 2 years

JSW CEMENT Q1 CONCALL 🏭📈 FY27 Outlook • Volume growth targeted in high-teens, including Cement, GGBS & new North operations • GGBS volumes expected to grow in high single digits Regional Growth • Strong infrastructure demand expected from MMR, Pune & South India • North operations expected to reach EBITDA break-even in Q2 FY27 and turn profitable thereafter Margins & Costs • Higher utilisation and cost-reduction initiatives expected to improve North profitability • Fuel costs expected to remain stable in Q2 and decline from Q3, supported by higher domestic coal & lignite usage Capex • FY27 capex guidance maintained at ₹2,300 Cr

AMBER ENTERPRISES Q1 CONCALL 📈⚡ FY27 Guidance • Consumer Durables: 13–15% growth • Electronics: 40%+ revenue growth • Railway Subsystem & Defence: 30–35% growth with 15–16% EBITDA margins Electronics Growth • PCBA, PCB & Industrial/Automation expected to drive 40%+ growth Consumer Durables • AC demand likely to remain subdued through Diwali due to inventory liquidation • Stronger demand expected from November onwards Long-Term Strategy • Focus on higher-value Industrial, Medical, Defence & Aerospace EMS segments Fundraising • Enabling resolution approved to raise up to ₹5,000 Cr • Quantum, structure & utilisation yet to be finalised

UNICOMMERCE ESOLUTIONS Q1 CONCALL 📦📈 Growth Outlook • Uniware growth expected at 15%+ YoY from Q4 FY27 • Shipway growth targeted at 20%+ YoY from Q4 FY27 Profitability • H2 FY27 profitability expected to improve on stronger growth & operating leverage • Shipway targeted to reach adjusted EBITDA breakeven from Q3 FY27 Margins • Uniware margins currently at ~35% • Strong operating leverage expected to support margins Investment Impact • Majority of FY27 investments front-loaded in H1, temporarily impacting profitability • Benefits expected to emerge in H2 through faster growth & improved operating leverage

SHILCHAR TECHNOLOGIES Q1 CONCALL ⚡📈 FY27 Guidance • Revenue target maintained at ~₹800 Cr despite soft Q1 • Existing 7,500 MVA capacity targeted at near 100% utilisation Margins • Margins expected to improve from Q2 onwards • Historical ~30% EBITDA margin recovery depends on geopolitical normalisation and higher-margin export mix • Higher domestic mix may lead to slight FY27 margin moderation Order Book • Current order book mix: ~70% domestic • Shipping costs and West Asia geopolitical uncertainty impacting export business FY28 Growth • New 6,500 MVA capacity targeted for commissioning in April 2027 • New capacity expected to become a key growth driver from FY28

ENDURANCE TECHNOLOGIES Q1 CONCALL 🚗📈 Near-Term Outlook • Q2 & Q3 performance expected to improve, supported by commodity cost pass-through to OEMs and softer aluminium prices • Margins expected to recover as cost pressures ease Q4 FY27 Ramp-Up • Significant business ramp-up expected from Q4, led by Shendra 4W castings plant and new battery pack business Capex • FY27 capex guided at ~₹800 Cr, focused on automation, efficiency & quality Growth Drivers • Well-positioned to benefit from ABS mandate extension to lower-CC vehicles • Europe remains challenging, but opportunities seen from weaker competitors M&A • Evaluating strategic M&A opportunities across automotive & non-automotive segments

ADITYA BIRLA REAL ESTATE Q1 CONCALL 🏠📈 FY27 Pipeline • Launch pipeline: ~₹9,600 Cr, with majority of launches planned for Q3 & Q4 • New GDV addition target: ₹10,000–15,000 Cr Growth Target • Annual pre-sales target: ₹15,000 Cr within the next 2–3 years Spending • FY27 construction spend: ₹1,200–1,300 Cr Market Outlook • Premium housing demand remains resilient across MMR, NCR, Pune & Bengaluru Expansion • Evaluating new land acquisitions, including auctions in Noida & Gurgaon Q1 Update • Sales remained muted due to absence of new launches; growth expected to be significantly back-ended in FY27

H.G. INFRA Q1 CONCALL 🏗️📈 FY27 Guidance • Revenue: ₹6,000–6,500 Cr • EBITDA Margin: 13.5–14% • Order Inflow Target: ₹11,000–12,000 Cr • ~₹5,500 Cr orders already secured in Q1 H2 Outlook • Strong execution ramp-up expected in H2 • Pune-Shirur & Orissa Ring Road projects to support growth • Faster BESS & transmission execution expected • H2 margins targeted to recover to 15%+ FY28 Outlook • Revenue target: ~₹7,000 Cr Key Timeline • Appointed dates for Pune-Shirur & Orissa Capital Region Ring Road expected by October 2026 • Higher H2 revenue expected to improve fixed-cost absorption and margins

KUSUMGAR Q1 CONCALL 🛡️📈 FY27 Outlook • Management expects FY27 to be a steady growth year with lower volatility Growth Drivers • Rising aerospace & defence indigenisation in India • Increasing global defence spending • China+1 supply-chain diversification Guidance • No formal revenue or profitability guidance due to long product approval cycles, unpredictable defence tenders & global uncertainties Strategy • Open to strategic partnerships, collaborations & tie-ups to accelerate growth

MAX HEALTHCARE: MAJOR BED EXPANSION PIPELINE & ARPOB GROWTH OUTLOOK • Lucknow: Additional 100 beds to be commissioned over next 2 quarters • Gurgaon: Phased commissioning of 500-bed facility to begin by FY27-end • Bhubaneswar: 250-bed facility renovation targeted within 12 months • Nagpur & Mohali: 100 beds and 400 beds targeted for FY28 • Pithampura: 200 beds targeted for FY29 • Dwarka & Nanavati Phase-2: 260 beds and 271 beds planned by FY30 • Vaishali: Construction started on 202-bed tower with ₹425 Cr capex; targeted before FY30 • Insurance: Price revisions expected around September–October, including automatic ~6% renewal increase • ARPOB: Growth expected to remain above inflation, supported by price hikes and advanced treatments & technologies • Leverage: Net debt/EBITDA remains below 1x; management comfortable up to 2.5x for strategic acquisitions

V2 RETAIL: MAINTAINS 50%+ FY27 REVENUE GROWTH GUIDANCE • FY27 Revenue Growth: 50%+ guidance maintained, driven by aggressive store additions • SSSG: Full-year guidance maintained at 8–10% • Gross Margin: Expected at 29–30% • EBITDA Margin: Aims to maintain current levels despite upfront expansion costs • Store Expansion: MOUs signed for next 100 stores; 15–20 new locations being finalised monthly • New Store Efficiency: 65–70% of mature-store efficiency initially; margin expansion expected as expansion pace normalises • Demand Outlook: Q3 festive season to be key demand indicator; July-August trends remain in line with expectations

GALAXY SURFACTANTS: FY27 EBITDA/TON GUIDANCE RAISED • Volume Growth: FY27 guidance maintained at 6–8% • EBITDA/ton: FY27 guidance raised to ₹24,000–25,000 • Sustainable EBITDA/ton: ₹21,000–22,000 expected over next 3 quarters • FY27 Capex: ~₹150 Cr planned • Demand: Resilient in India & US; AMET outlook improved after easing supply constraints • India Rural Demand: Monsoon impact remains a key H2 monitorable • Inorganic Growth: Evaluating opportunities in Beauty & Wellness; potential announcement in coming months

ENGINEERS INDIA: FY27 TARGETS & BUSINESS OUTLOOK • FY27 Turnover: ~₹4,200 Cr | Growth: 10%+ • Operating Margin: Target maintained at 16% • FY27 Order Inflow: ₹8,000 Cr target • YTD Order Inflow: ₹2,750 Cr • Consultancy: Expected to contribute ~55% of total turnover • FY28 Revenue: ₹5,000 Cr target; management aims to potentially outperform

CENTUM ELECTRONICS: FY27 GROWTH GUIDANCE MAINTAINED • FY27 revenue growth guidance maintained at 25%; similar growth expected in FY28. • FY27 margin target at 13%+ vs 12.5% in FY26. • Exports expected at 50–55%+ of revenue, driven by EMS growth. • BTS:EMS revenue mix expected around 70:30. • New facility planned at KIDB Aerospace Park with ₹150–170 Cr estimated capex. • Major capex spending expected to begin primarily from FY28-end.