Q1 FY27 earnings call transcript filed; growth outlook and margin recovery discussed

Mgmt Guided Margin ImprovementMgmt Guided Margin PressureOrder Pipeline DisclosedMgmt Evaded Key QuestionInvestor Communications View source PDF Explain this filing

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AI summary

Q1 FY27 revenue at INR15,557 crores. EBITDA (ex fair value) INR472 crores, PAT (ex minority interest) INR218 crores. Margins compressed due to Mobile PLI 1 expiry and input cost pass-through in mobile and IT hardware. Q2 smartphone volumes guided at 20-25% growth, full year about 32-33 million units. Vivo JV to consolidate from Q3. Export potential of 15-20 million units worth INR18,000-20,000 crores. Margins expected to normalize from FY28 via component backward integration.

Likely market impact

Temporary margin pressure from PLI 1 sunset and input costs; strong order pipeline in mobile, IT hardware, and components supports future earnings recovery.