Investor Presentation

**1. Financial Highlights:** Q1 FY26 revenue was ₹850.9 Cr (-5% YoY), with EBITDA at ₹202.5 Cr (-19% YoY) and PAT at ₹124.7 Cr (-12% YoY). EBITDA margin compressed to 23.8%. BEV revenue declined 25% YoY to ₹210.6 Cr (28% of automotive sales). **2. Strategic Initiatives & Growth Drivers:** A 60:40 JV with JNT in China targets EV driveline systems, with revenue expected from H2 FY26. Two new EV programs added ₹1,550 Cr (PV/EV) and ₹260 Cr (E3W) to the order book, now ₹26,200 Cr (7.4x FY25 revenue), 75% from EV. **3. Business Developments:** Strategic focus expanded to "Electric + Intelligent & Connected" and "West + East" markets.

The product roadmap evolves from components to full systems for "EPIC Mobility," including new railway business offerings. **4. Market Position & Competitive Advantage:** Maintaining strong dominance in Indian differential gears, the company also holds global market shares of 8.8% for differential gears and 4.4% for starter motors (CY24). It operates 12 plants and 5 R&D centers globally. **5. Investor Implications:** Despite Q1 headwinds, the robust order book and strategic expansion into new markets (China JV) and advanced technologies indicate positive long-term growth potential.

Execution of strategic priorities will be key for investors to monitor.