• Key growth drivers: The company exceeded its 11% growth guidance by approximately 100 crore, propelled by market share gains in India and manufacturing capacity expansion in the US. Both the US and Indian markets are projected to sustain double-digit growth.
• FY27 business outlook: First-quarter performance for FY27 is expected to be strong, though visibility for the rest of the year remains uncertain due to challenges in West Asia. Overall fundamentals, order inquiries, and cost structures remain solid.
• India market strategy: To sustain double-digit domestic growth, the company is targeting higher market share and entering new segments to counter predatory pricing and dumping from Chinese imports.
• Europe profitability trajectory: Following operational consolidation and breakeven performance in FY25 (excluding one-time reorganization expenses), European operations are expected to achieve profitability in FY26 despite muted near-term economic growth.