Thank you. Good morning and welcome, everyone.

On this call, I am joined by our CFO, Mr. Vikas Goel, our CEO of ADS Division and our newly appointed Executive Director, Mr.

Krishnan, CEO of our automotive division, Mr. Rahul Kale, and our investor relation advisors, SGA.

The results and the presentations have been uploaded on the stock exchange and the company websites. I hope everyone has had a chance to review them.

We started FY '27 on a very strong note, delivering our highest ever quarterly revenue while maintaining healthy profitability. Our quarterly revenues crossed INR 10,000 million milestone, reaching INR 10,213 million, representing a year-on-year growth of 33%.

EBITDA and PAT margins remained resilient at 19.2% and 8.6% respectively. That said, amidst a challenging geopolitical environment with significant cost inflations, Sansera was able to maintain its profitability and delivered double-digit sales growth across segments.

Let me take a minute to talk about the broader industry trends that impacted us. On the domestic auto side, our OEM customers across the board are talking about hyper-growth, high vehicle volumes, and continued consolidation of supply chain, better capitalized, more capable suppliers.

Our passenger vehicle exposure has historically been roughly balanced between domestic and export markets, while exports saw some moderation in the last year. In this year, we are seeing some traction in our international business getting back to a normal growth trajectory.

A positive trend in the industry alongside the rising tide of outsourcing creates a strong foundation for sustained growth in our auto business on both domestic and export sides. Now looking into our segmental performance, the performance was broad-based across all the key segments.

The non-auto segment delivered its highest ever quarterly sales of INR 1,998 million, registering an impressive 129.9% year-on-year growth. As a result, its contribution increased to 20.8% of our overall sales.

Within the non-auto segment, our ADS business remained the primary growth driver, the revenue increasing by more than 3 times year-on-year and standing at INR 1,454 million. Moving to our auto tech-agnostic and xEV business, the segment achieved its highest ever quarterly sales of INR 1,316 million, growing at 22.2% year-on-year, reflecting accelerated EV adoption, especially in two-wheelers.

Our auto ICE segment also delivered a healthy 20.8% year-on-year growth on a high base and stood at INR 6,275 million. During the quarter, we recorded our highest ever quarterly performance across passenger vehicles, commercial vehicles, and scooters.

With this, we expect to end FY '27 with high-teens top-line growth with continuous focus on improving margin profile. Now I would like to give you some updates on our order book.

Our customers for ADS segment, specially aerospace and SEM, which is semicon equipment manufacturers, have very tall outsourcing targets from India's perspective, which is reflective in our growing order book position. Our cumulative unexecuted lifetime order book for 5 years specially for ADS business stood at INR 44.4 billion as of quarter end.

Further, we have received few more orders in this segment in the current quarter, Q2, which have pushed our ADS order backlog to around INR 57.5 billion currently. These orders are executable in next 5 years.

As explained to you previously, these orders are structurally different from our overall order book, which we give as peak annual revenues for the new business instead of total cumulative backlog. To avoid duplication, we have removed the value of ADS business from the standard order book numbers for the rest of the businesses.

Therefore, as of June 2026, our peak annual revenue of our new business, ex of ADS, stood at INR 18.5 billion. We are gearing up to capture this immense opportunity ahead with our capex plans across different plants on both auto and ADS lines.

Looking specifically on a few of the capex projects on the ADS line first, recently, we have inaugurated a surface treatment facility next to our ADS plant. We are in the process of obtaining NADCAP validation for this.

Surface treatment is a defining capability that allows us to complete the production within the single facility. This is in line with Sansera's history of backward integration.

As we enter larger and more complex structural parts in this segment, having this process in-house will give us better speed, quality control, and reduced external dependency. We are in the process of relocating our defense business to a dedicated facility separate from the rest of ADS to provide it with focused infrastructure and enhanced operational execution.

This, we believe, is going to be helpful in tapping very huge opportunities in the defense sector, both domestic as well as exports. Lastly, we are building a new 80,000 square foot hangar for the aero and SEM business.

Lines will get installed and validated by our customers in this hangar in the coming quarters. Turning to our growth roadmap in the auto segment, at Pantnagar, which is our Plant 6, and our Manesar facility, Plant 4, we are setting up additional forging and machining capabilities, mainly for crankshafts for both two-wheeler and passenger vehicle OEMs, connecting rods for the passenger vehicle OEMs.

At Bangalore Plant 2, we are augmenting machining capacity with a clear focus on auto tech-agnostic and xEV components. This will be complemented by our Sansera-Nichidai joint venture, which deepens our presence in the cold and warm forged precision components.

The project that I mentioned on both ADS and auto sites will come on stream beginning of Q3 FY '27 onwards, and we will get it completed within a year from now. The shift towards non-ICE is gaining strong momentum and is progressing well ahead as planned.

With our capex investments coming on stream, we expect the contribution from these businesses to scale up meaningfully and become an increasingly important driver of our growth and mix. We believe this is the only beginning of a significant new growth leg for our business, with the benefit of this transition becoming increasingly visible over the coming years.

With this, I would like to hand over the call to our CFO, Mr. Vikas Goel.

Thank you, Preetham. Good morning, everyone.

Let me now take you through our consolidated financial performance for the first quarter of FY '27. For Q1 FY '27, our consolidated performance reflected strong operating execution with revenue momentum translating into improved profitability and a stronger margin profile.

Within ADS, reported revenue of INR 1,454 million includes product sales, scrap sales, and tooling income. Prior period figures have been restated for a like-to-like comparison, with details provided on slide number 7 of the investor presentation.

Margin expansion was supported by operating leverage, disciplined cost absorption, and a more favorable product mix, which together helped offset inflationary pressures during the quarter. Operating expenses increased in absolute terms as the revenue scaled and included a provision of Rs 126 million for US import duty tariff incurred in the previous year.

These amounts remain recoverable as we speak, and efforts are on to continue on the process of recovering them. However, a provision was made based on the recovery risk assessment while we continue to pursue the recovery.

EBITDA for the quarter stood at INR 1,961 million, reflecting strong year-on-year growth of 48%. Profitability also improved, with EBITDA margin expanding by around 200 basis points to 19.2% compared with 17.2% in the same quarter previous year.

The quarter included an exceptional charge of Rs 169 million towards settlement of a litigation matter in the US District Court. The matter was disclosed in our 2021 prospectus and the settlement was completed without any admission of liability.

The EBITDA number that I spoke earlier is excluding these exceptional items. Other income stood at Rs 134 million for the quarter, up around 15% year-on-year, primarily driven by higher forex gains during this period.

Profit after tax at INR 874 million, up 39% year-on-year with PAT margins improving to 8.6%. Excluding the exceptional items mentioned before and adjusting for its post-tax impact of 127 million rupees, PAT for the quarter was at 1,000 million rupees.

Our capex program will continue to be phased in line with customer validations, order visibility, and expected utilization. We remain focused on ensuring that new investments meet our internal return threshold and support profitable and sustainable growth.

From a balance sheet perspective, our focus remains on maintaining financial discipline with funding growth-led capex. We continue to monitor working capital closely, particularly receivables and inventory, to ensure that growth is supported by healthy cash conversion.

Overall, we remain confident about the medium-term growth outlook, supported by a diversified order pipeline, new capacity coming on stream, and continue to focus on margin, working capital, and capital efficiency. With this, we conclude our opening remarks and open the floor for Q&A.

Hi, sir. Thanks for the opportunity, and congrats on a great set of numbers.

Sir, first question is on the ADS side. I think in the presentation, it is mentioned that the order book is close to 45 billion, but you mentioned that it has gone up to 57 billion in the current quarter.

Am I sort of reading it correctly? If you can just talk about the incremental orders, is it from the existing customers or from any new customer if you have added?

Now with this order book, where do you see this segment revenues in the next three, four years? That will be the first question.

Thank you, Siddharth. I'll start answering, and probably Hari will take it forward.

Yes, see, the normal course of business, we would not have mentioned this, but since this is one big order and this is from SEM, semicon equipment manufacturer, this is also quite a significant milestone for us because this would propel us to almost close to $75 million worth of annual business from this customer. We thought that it is appropriate to mention this order.

On a five-year basis, this would approximately translate to about 1,250 crores. That is what we have said, that from 44 billion rupees, it is going up to 56 or 57 billion.

Otherwise, on a normal course of business, we keep getting very strong momentum from both aerospace and SEM. Hari can add.

Hari?

Yeah. Siddharth, good morning.

This is from our existing customer. It is from the semicon space.

As Preetham said, this is a win which happened post our normal cutoff date, which is 1st of July. This happened in the last couple of weeks.

We are very, very bullish. The business with the customer, as Preetham said, with this, we'll reach about $75 million or roundabouts the engagement with this customer alone.

We are working very actively to address further RFQs on the table in the same space as well as the aerospace division. Right now, it is 5,700 crores executable by FY '31.

Got it, sir. Second question is on the export side.

We also did see a very strong traction. I would assume that even outside the non-auto business, some of the ICE business also seems to be sort of picking up quite sharply.

Can you sort of talk about some trends, both globally and domestically, on the ICE side? What is driving this growth, and how sustainable do you see the growth momentum to be in the next few years?

We saw a very healthy growth even in the off-road segment. We saw some good growth coming from passenger vehicle segment in exports.

Everybody is aware of the fact that the domestic two-wheeler industry and domestic passenger vehicle industry continues to surprise everyone. It is not only in quarter one, we are seeing much stronger demand extending in quarter two as well.

We expect that since the festive season is distributed between quarter two and quarter three, I think even the quarter three momentum, we see there is a strong demand. In fact, the demand is so strong that there is a lot of stress on the supply chain, both on raw material front, child part front.

We see that there is a lot of capacity constraint, and intervention from customers are helping us to get this material in time. Of course, when there is such huge demand coming from all the segments, there is a stress on supply chain and production.

I see a very strong demand visibility both in two-wheeler and passenger vehicle for at least next one, one and a half quarters definitely. On exports, there is a good traction, both on passenger vehicle as well as premium two-wheelers, off-road vehicles.

We have also commenced our deliveries into the energy segment to one of the key customers in North America. That should also start giving us sustained revenues from Q3.

Overall, I see a very positive outlook going forward.

Just to add to what Preetham said, we have been talking last couple of years about a US facility manufacturing connecting rods, which was the requirement of our OEM customers there. We also have been updating you that we are now waiting for certainty to come back into the system because of all the tariff confusion.

While that status quo remains the same, we are seeing increased momentum from the customers to start sourcing more from Sansera India without really waiting for us to start our operations in the US. We can see that trend as a stopgap arrangement, and that is also contributing to increased exports in our premium product.

Understood, sir. Sir, last question to Vikas, sir.

When you talk about this 129 million rupees of impact, is it in the current EBITDA margins of 19.2%, or have we already excluded it from the other costs, if you can just clarify that?

Oh, it is included there. It is considered as a cost.

Got it. Sir.

Thanks a lot. I'll come back in the queue.

Hi, good morning, and thank you for taking my questions. First question is just around the order book again on ADS.

You mentioned close to 57 billion rupees as of quarter to date. Just want to understand in terms of your capex planning and capacity expansion, you did mention that you are adding a surface treatment capacity nearby.

There's a hangar also coming on stream over the next 12 to 18 months, and then you have in the past mentioned that you might look to do more greenfield there. Just want to understand a sense of what sort of asset turns you typically need to keep in mind before investing for incremental semicon capacity and how that looks on aerospace as well, and does that have any implications for your sort of annual capex plans over the next couple of years?

Let me just try to answer this. This is Hari here, Chandramouli.

In three buckets, one is capex in this current situation we are in is a parallel activity. It is a continuous activity based on what you invest today with the lead time of machines being 7, 8, sometimes up to 9 months.

When you really cut off at a particular point and check on peak revenue potential versus assets invested for a particular program, the ADS asset turns are very comfortably between 2 to 2.25 in that margin. Secondly, as far as infrastructure is concerned, what we are speaking right now is a confirmed order book of 5,700 crores to be executed by FY '31, not to say that is a number we target to really reach.

Orders are being negotiated, conversions are at an advanced stage. We expect a lot of conversions to happen in Q2 and Q3.

Keeping in mind the projected business, in addition to the 80,000 square feet hangar which Preetham spoke about, which is going to get commissioned in a month or two at the latest, we will start installing machines and commissioning and validating the lines with the customer's approval, and also the special process coming on stream in maximum a month or two because, as we are talking, certification process is underway. We are also working on a built-to-suit facility not far from our existing place, which we hope to conclude discussions in August and have that facility ready in about 10 months' time.

That would add a further 100,000 square foot to our manufacturing space. The biggest advantage is all this will be in a vicinity of 500 meters.

Just to sum up what Hari was saying, our existing facility with an extended hangar for aerospace and SEM should enable us to generate a revenue of between 1,400 to 1,500 crores worth of capacity. Then we are also shifting our defense to have more focused approach on defense.

This should enable us to, over next 5 years, create a capacity which can generate a revenue of about 500 crores. Then the new facility just Hari spoke about, which will add about 110,000 square foot, would also be able to have a capacity which can generate another 1,500 crores.

Overall, by FY '31, our base plan as per the current visibility is to create a facility which we can generate a revenue of about 3,500 crores.

Got it. That's helpful.

My second question is just around some of the comments that I think have been highlighted in the presentation that you had uploaded. So 1Q top-line growth for the company is north of 30% YoY, and you have sort of made a comment that you're looking to do high-teens top-line growth in FY '27.

If I just break it down sort of between ADS and the rest of the business, in FY '26, I think ADS was in the ballpark of 10% of total company revenues. If that's possibly doubling in FY '27 based on the guidance ranges that you've mentioned, that in itself possibly adds 10% to overall company top line.

Does that mean sort of the rest of the business, the non-ADS business, the remaining 90% of the business in FY '26 will contribute in the ballpark of 7% or 8% kind of top line? I think you're doing ahead of that run rate year-to-date.

Just wanted to understand that dynamic a little better, if the high-teens guidance for FY '27 on top line is more sort of a baseline or if you expect some sort of moderation in the back half.

No, actually, the beginning of the year when we did our business plan, something that based on the projection from our customers, we thought that we will end up doing about mid to high teens, more towards high teens overall growth. As you are very right, looking at the sustained momentum of the two-wheeler and pass car industry, specially domestic, sustaining and also looking quite strong for the coming quarter, in the current quarter and also towards the festive season, which will be into the third quarter as well, I think overall if you see our non-ADS business, all other businesses put together, non-ADS business itself, we should be able to look at mid-teens kind of growth easily.

That is something that we are working on. As the business is evolving and situation is looking at month on month looks more possible that we will be doing more of mid-teens to high-teens kind of growth in our other businesses as well.

Got it. Just to clarify, if 90% of the business can do mid-teens, that might be sort of a 12%, 13% contributor in FY '27, and then the remaining 10% possibly doubles, that again is a 10% contributor.

It should be possible to do comfortably north of 20% if these trends sustain in FY '27?

I think if the business continues to grow the way that it is doing now, I think it is a good possibility that we should be looking at between high teens to 20% as an overall revenue growth.

Got it. I have no more questions.

I'll join back the queue. Thank you very much, and all the best.

Yes, sir. Good morning, and thank you for the opportunity.

My first question will be on the quarter itself. Can you kind of give some sense on how the material cost has played and how your pricing pass-throughs have happened so far, and what we can expect, say, in the next couple of quarters in terms of pricing, etc.?

Vikas. We have seen material cost increase, not a very substantial increase.

Primarily it has happened in aluminium, being a small portion of our total material consumption, and also on some of the consumables where we've seen exceptionally high inflation, which has actually impacted us in the quarter. As far as steel inflation is concerned, we see limited inflation, and we are engaging with our customers for a pass-through, which is currently in process, not yet translated.

That's where we stand right now. We've got some cushion due to the forex movement.

Some cushion or maybe short-term respite has come from that. While we continue to engage with our customers for passing on material inflation yet to materialize.

As Vikas said, that we continue to engage with our customers for getting compensation out of tool and higher labor costs, which is impacted specially of northern plants. I think this is work under progress, but nothing of that has come into the balance sheet, the P&L yet in the first quarter.

Got it. Just in continuation with that, we've seen our gross margins expand in this 1Q vis-a-vis 4Q.

That's entirely a mix impact, that means, because we haven't got any pass-throughs anyways?

No, it's a mix plus the forex, both because of the [unclear].

Forex as well. Okay.

Got it. Second question again on your ICE expansion itself.

We have spoken about Pantnagar, Plant 6, and then we are expanding Plant 6 there, and now Manesar, Plant 4. Could you give some sense, is this because of OEMs expanding their capacity and you're getting commensurate kind of a wallet share there, or are you kind of seeing a increase in market share and hence you're expanding these crankshaft machining facilities, etc.?

Would be interesting to see how ICE business itself could do for you the next couple of years with the way you're expanding capacities.

I'll just answer, then Rahul will take it forward. Basically, this is definitely result of higher outsourcing opportunity in two-wheeler OEMs who are looking at outsourcing crankshaft facilities.

That is something that we are focused on. Second thing is that we have been doing crankshaft assembly, both crankshaft, connecting rod, right from forging, it is some expertise that we have developed.

On passenger vehicle as well, we have got some very strong indications of capacity expansion. I'll just hand it over to Rahul, who will explain probably in a little more in detail on Pantnagar and Manesar.

On Pantnagar facility, as we informed earlier, we are expanding a special plant, crankshaft facility, which is fully automated facility, especially for two-wheelers. This is mainly because substantial increase in demand from a couple of customers which are southwest two-wheeler manufacturers.

We also, like Preetham said, we have opportunities of OEM outsourcing which is coming to us. This is mainly dominated by crankshafts in north facilities.

Crankshafts are demanding for con rods also, which are being manufactured in Bangalore facilities. Of course, four-wheeler Maruti volumes and all OEMs are pushing us.

It is not only machining, we are expanding forging facility also in Pantnagar and all secondary operations, heat treatment. All along in to ICE also, we are expanding both predominantly today in northern plants, but as a consequence of crankshaft going up, connecting rods in Bangalore facilities.

Preetham mentioned in initial talk that we are building a new multi-storey kind of building in Plant 2 also. That is also a part of this.

Got it. Just lastly, did you give an updated capex number for the company this year?

With this expansion, maybe new order book, etc.?

As I said, we gave our overall plan during the last quarter for the full year, but then we have not updated that number as of now. As we said, we continue to evaluate our capex plans.

Got it. Thanks a lot.

I'll get back in the queue.

Sir, my questions have been answered. Thank you so much.

Thank you, team, and congratulations for a superlative performance. Sir, on the top-line front, given the fact we have an executable order book in 5 years' time frame in non-ADS business and the ADS business doubling this year and will be doubling over the next 2 years, will it be prudent to assume that we could be growing in excess of 20% on top line over FY '26 to '29?

I can only answer to the current year, which I said that we will be very close to high teens to 20%, considering our growth, which will be about 75%, 80% in ADS, and there is a momentum on this. We expect that the customer engagement, what we have and their indications for capacity, because we have been engaged with most of the large OEMs to talk about since Sansera is a fully integrated facility, and any expansion, specially in auto, any expansion on our forging and heat treatment and all such facilities will take anywhere between 18 to 24 months.

We need to have a kind of two-year view from the customers if we have to expand meaningfully. We are engaged, and we are putting our plans in place.

It's too early for me to say whether for the next two, three years we will do 20% plus, but then we expect that there will be strong momentum to continue.

Right. Sir, on the base order book, our execution timeline remains that it is to achieve this order book in next 3 years as a peak revenue, right?

That understanding remains unchanged?

Yes, that understanding remains unchanged.

Sir. Secondly, sir, on the margins front, adjusting for the provision that we have done for this quarter, the adjusted margins is 20.4%, and our endeavour has been to attain a 20% mark.

Now how do we see the margin trajectory given the increasing share of ADS as a segment? Is 22%, 25% a new benchmark that we will be targeting internally, or is it that 20% range is something that we are comfortable with?

No, I think this quarter could be slightly more elevated because we have had almost 40% revenue coming from international revenue, and we have had very strong mix advantage, currency advantage, and all that. Otherwise, we have maintained in the beginning of our year that last year our overall margin was 18.1%, and we would be more happier that if we are able to inch towards 19%.

While the first quarter has been very strong, I don't want to give some number. While we are very aspirational, we are working towards achieving our 202020 targets, but then I would still maintain that whatever I have given guidance in the beginning of the year, we would like to achieve it, slightly maybe overachieve it.

I would just like to add this. Our endeavour is to sustain this margin level and focus on growth while we sustain the margin.

That's the philosophy that we are working with.

Right. Sir, will it be possible for you to share what is the differential margins that we earn for ADS as in base business earning 17%, 18% margin, what could ADS as a segment be earning so that

No, see, our exports business and ADS business definitely comes with a higher margin profile compared to our domestic business. While I last time also during our commentary we said that we are targeting or we are operating between 25% to 30% EBITDA margins in both these sectors.

I would say that as we improve our capacity utilization, the numbers would be more towards higher north of high 20s. I don't want to put a figure into it, but then definitely this would be between 25% and 30% margins.

Thank you, sir, and wish you all the best.

Thank you.

Thank you very much, sir, for this opportunity. Sir, I have two questions.

First is in the motorcycle segment, if we see the revenue growth is in the range of 7% to 10% year on year for the last three quarters, whereas the industry volume for motorcycles has been 17%, 18%. Can you help reconcile these numbers, have we lost wallet share with any of the customers or how has it been?

The second question is on the passenger vehicle segment, are we still maintaining our same wallet share with Maruti or that has reduced?

No, we have not lost any wallet share with any of the customers. In fact, we have been increasing it both with TVS as well as with Yamaha and Suzuki.

I don't see any reason why. While you compare the industry on numbers, our representation is on revenue.

There could be some gap between that, but otherwise, we have been doing well, and we have grown well. Exactly, I'll have to check what is our motorcycle numbers, but then we have not lost anything.

In fact, we have gained the market share. Second thing is, in terms of Maruti, we have been gaining market share.

In fact, the projections also they remain one of our top customers in terms of our engagement. Even for the next couple of years, we see a very strong momentum from them.

From the components that we are supplying to them, we are almost 75% of volumes are supplied by us to them.

So

In our this thing that our motorcycle business probably has grown by about 12.5%. That's what is our numbers, but it could be, we could reconcile.

We can have an offline chat and reconcile.

Sure, sir. Thank you very much.

Yeah. Thanks, sir, for the opportunity and congrats on the result and the new order wins in the ADS segment, sir.

Just firstly, sir, just on the defense side, what will be the approach towards this opportunity and how much capex we plan to put for this new plant, how will be the timeline for this plant? Generally, sir, what kind of a business opportunity we see, whether it's forging, machining, it will be more like a Tier 1 or Tier 2 player?

If you can give some more sense on this opportunity, sir?

Let me just lay out what we actually do and aspire to do in the defense sector. Our offering today is precision machined components for applications in defense areas.

We supply to small batch quantities to ISRO, HAL. We do a bit of exports to companies in Israel.

Now we want to up our game to the next level. We are now looking at closing some large order wins in the defense space for customers outside India, mainly in Europe.

That is our conversation. Along with that, we are also sure and very clear that we are going to get into sheet metal as an additional offering.

Now that can be for both defense and for aerospace because we strongly believe that with sheet metal capability, our RFQ packages will tilt hugely in our favor purely by our ability to address more components, which today we are just letting it go. With the in-house special process facility what we have, I think this will translate into significant advantage as far as how customers will view us.

Our new defense facility which we're talking about is going to increase our offerings in the machining space to more number of customers and also will pave the way for our entry into sheet metal first through defense, which will be also used for aerospace applications. We expect to make a significant headway much earlier as far as facility creation and order wins goes.

We'll keep you updated and posted.

Got it. Great to hear that, sir.

Secondly, in this quarter, I could see new order wins have been added around 88 crore in PV, CV and 75 crore in two-wheeler. Can you share more what are this new order wins in this quarter?

Sir, it's a normal course of business. I don't think we have

details.

We have so many 87 customers, and we are engaged with a lot of them. These are on a normal course of business order wins.

I don't see except that we mentioned about ADS where we got some very big order from SEM. Otherwise, these are normal course of business.

Got it, sir. Sir, on the SEM order, the new order win, I just want to understand how is the timeline for the execution of this 12 billion, sir?

It's like this that we, in our business of machining, especially ultra-high-precision machining, the significant or the defining lead time is the arrival of the mother machine. Taking that into account, we would start seeing revenues in this new order, significant revenues, calendar year '27, and it will peak calendar year '29.

Got it, sir. Thank you.

Thank you so much for the answer, sir.

Thank you, everyone, for giving me the chance. My simple questions are that at the last concall, sir, I think you mentioned that the revenue could go to 8 to 9,000 crores the next two to four years.

Do we stand on that, or do we increase that?

No, two to four years, two years, two to four years, no. We haven't spoken about two to four years.

Probably by end of decade is what we said, that we will have an opportunity to look at a overall revenue of about 8,000 to 9,000 crore. That is what is the plan with which we are working on to create facilities worth to address that market.

We still are very optimistic that the numbers that we are looking at is quite possible to be achieved. Of course, this would be primarily also driven by our non-auto business, which is ADS, but then we also have significant outsourcing opportunities in specially in the export market in the auto segment, both in EV as well as on ICE hybrid platforms.

All this put together, there are opportunities where we should be looking at this kind of numbers by end of the decade, say FY '31.

Got it. My second question, the last question is that we are already achieving 600 crore sales from as a run rate from the ADS segment, and unexecutable order book, as you mentioned, around 5,700 crores.

We can safely say that this number could go to 1,500 crores going ahead next year or not? Second question is, with all the capacities what we are putting and intend to put, no capital raising is required?

No,

first point, it is not going to go to 1,500 crore revenue next year. There will be a progression, and depending on the commissioning, as I said, at this point of time, 5,700 crores is mandatorily executable or has to be executed by FY '31.

There will be, without doubt, a significant ramp, but going to 1,500 crore next year is not as per our plan.

The second thing is that, look, there is a process of validation, machine commissioning, all these things. While there are orders, there are opportunities, there is facility that is being created, since the nature of components that we are into requires kind of lead time in development and validation, it will take time.

We expect that we will continue to have a similar momentum in our execution in the next year as well. The exact numbers, we will be able to give you a guidance towards the end of this year depending upon the status of our plant, the status of validation, so many other factors.

I think we will be very close towards the end of this year. As far as your fund requirement are concerned, currently, we keep monitoring our cash flows and our this thing, and we don't think at this moment it is necessary for us to look at any additional fund raise.

We are quite happy with our cash flows, and we are able to fund our this thing. Having said that, we are also looking at some good opportunities that are potentially can come, and we will keep monitoring the situation on a month-on and a quarter-on-quarter basis and take an appropriate decision if at all we need to look at a fund raise at some point of time.

In the meantime, our balance sheet is strong enough to fund any of these investments through leveraging, which is currently at a very, very low level.

Sir, everything what we do, sir, it will be organic, right? We are not going ahead at any

point of time All organic plans are there.

No,

no. See,

the current projections and business updates that we have given, all that is considering only organic growth. We keep our ears and eyes open for the opportunities that we keep getting across the segments, specially in non-auto.

That interests us, we keep looking at it, and if anything appropriate comes our way, we will definitely have a look at it.

If I may put last question, sir. We have beautifully pivoted our business model from a forging company to ADS.

Is there anything else, I know our plates are already very, very full, but is there any other segment which you foresee could be another area where Sansera could focus in the next two, three, four years?

We have already said that non-automotive is one of our prime focus, and non-automotive includes, not limited to

Thank you so much. I was just asking about new opportunities apart from the ADS if we are exploring in the next 2 to 4 or 5 years.

Oh, you didn't hear whatever I said? I kept on talking.

Sorry.

I'm sorry.

There is a lot of growth prospects that we are looking at non-ADS, which is in aerospace and SEM, but in industrial, in power sector. See, power is something that we are very interested, both in transmission as well as storage.

We also think going forward, humanoids, like few of our peers have already said that it's going to be a big opportunity. We will keep on working on how to get into that segment.

These are some of the segments we are interested and keenly looking at how to expand our presence there.

Thank you, sir. All the best.

A very proud shareholder. Thank you.

Thank you. Thank you very much.

Thank you for the opportunity, sir. Congratulations on the great set of numbers.

Most of my questions have been answered. Just wanted to understand, like you mentioned in your opening remarks about large and more complex precision components that you are looking to enter into.

Which system or subsystems are we exactly targeting? As per our earlier conference calls, you did mention about turbine blisks that Sansera has entered into.

Any progress on that front? Have we received any order or any confirmation that could be expected in the near term?

That's my first question.

I'll just leave it to Hari to answer to this.

I think in the last earnings call, we announced that we had just about bagged this very prestigious order to work on a blisk opportunity. The update what I have today is that we have made significant progress getting ready to start the machining.

There were a lot of other activities involved. We are now making progress within the allowed stipulated timeline, and we should have the first samples ready for the customer in a month's time from now.

To add to Hari's this thing, yes, since we have now commissioned a facility of large-size special process which can accommodate up to 4-meter components, and we have already had the machining facility for that. We have five-axis machining capabilities, multi-five-axis, like when I say five-axis, there are several ways of five-axis machining that one can do.

If people have visited our facilities, you will know that we have 10 10 or so different types of five-axis machining. For us, now we are looking at more and more semi in both SEM and aerospace, more complex parts like parts related to door assemblies, fuselage, a lot of structural parts, seating elements.

There are several of such opportunities that are now there, which we are working on, which also means that we are moving up the value chain in the system. With the new facility that we will probably hope to get an NADCAP and customer approvals for this special process within this quarter.

That will also not only add capability, but will also cut the lead time for development and supplies, and also will be margin accretive for us.

Got it. Thank you, sir.

Second, sir, with respect to the Sweden business, Operator:

Oh, all right. Thank you.

Hi. Thanks.

Two questions, please. First is, as you move from one complex program to another, how much of the learning is reusable rather than having to solve each problem or each program largely on its own?

No, see, when we say that specially in automotive, it is progressive learning. See, we keep using the knowledge of each of the crankshaft, connecting rod that we make, and that gets expanded into this thing.

In ADS, it is slightly different because the nature of products that we do deal with every package will be different. Having said that, overall conceptually when we say that, look, today Hari spoke about a blisk that we are trying to develop, and there is a lot of knowledge gain that happens in that kind of machining.

We have been given an opportunity to machine a monocrystalline kind of components where there is a huge learning that we are getting from trying to machine this. This is something that we have never done before because this is one single crystal which is expanded.

This is something that we have learned new. Conceptually when we do such components, there is a lot of learning which gets expanded.

It's definitely transferable from one package to another package.

Perfect. Perfect, sir.

Second is, when you have a choice between putting the next rupee into the existing business and funding the next ADS or non-ICE opportunity, what makes you kind of say yes to one opportunity and no to the other?

The return ratios and long-term strategy. These two are some of the things that we keep in mind when we decide upon where to put the money into.

We have a committee which will recommend and go through each of this quotations when we decide and quote. The return ratios are very important.

Having said that, the nature of business and the future prospects of the business will take a precedence over the return ratio if there is a challenge in the return ratio, but generally, that is something that we keep it in mind when we decide. Having said that, when aerospace and defense and semicon are posting us a large opportunity, but please understand we are growing on a very large base of automotive.

We are still growing healthy in healthy double digits. Which means that we are still able to generate a lot of interest and the thing from our customers.

All these things is translating into a strong order book.

Thank you so much, sir. Thank you.

Thank you. That's all.

Thank you.

Hi. Thank you for the opportunity, and just many congratulations to the team over a very consistently good performance over time, very happy shareholders.

I have two questions. The first question is, ADS segment is growing, we're seeing a lot of tailwind, our aspiration is to get it to 3,500 crores by 2031.

My question is, what are some of the risks over here, and, particularly, in the past, we have seen one of our customers going through a bit of a hiccup period. Going forward in the ADS segment, what do you think could go wrong which could push this growth target more into the future?

Are there any significant products that you feel might go end-of-life in the foreseeable future? That was the first question.

If you just bifurcate the ADS into mainly today aerospace and semicon, in the aerospace today, significantly we see much lesser risk. The ultimate two customers are Boeing and Airbus.

We are getting into increasing number of programs. The aircraft order backlogs are increasing as we are talking month on month.

Risk per se, God forbid, something catastrophic like what happened to Boeing about 6 years ago, if nothing of that kind happens, I think we are on a good wicket in aerospace. In the semicon industry, as everybody is well aware, the current boom is largely significantly driven by the AI demand.

AI demand, data centers resulting in a massive surge in demand for chips, which in turn translates into demand for the equipment suppliers, which is our primary market. The immediate feedback from the industry, and we are also constantly in touch with our customer understanding demand pattern forecasting, is it looks like they are very, very busy or they see themselves not able to meet demand till FY '29, FY '30.

That is the short-term and the immediate forecast for the future. I think the risks for semicon is what I laid out.

Aerospace is much lesser of a risk, and I think I don't know whether that answers your question.

Very helpful. Just to be clear, there are no components, products that you're supplying today which are large, which over the next few years might just hit end-of-life or anything which needs to be substituted?

No, we are not today in production of anything where a significant portion is going to come to end-of-life in the ADS business.

Got it. Just one final question is the defense segment wherein now there's a lot of new confidence, you've explained why.

This 500 crores sales, is that part of the vision of what you all want to achieve by 2031 with the 8 to 9,000 crores? Is this a part of that, or this could be like an upside to that number?

No, everything is a part of what we speak. We don't really break it down.

When we say the forecast for revenues today is 5,700 crores pending order, confirmed backlog executable by FY '31, that includes aerospace, semicon, and defense. Going forward, any future wins in this business will add to the 5,700 bucket, and it's all put together when we talk about that number.

Perfect.

Perfect. Thank you so much for taking my questions.

Thank you.

Thank you very much, and we are sorry for the inconvenience that we just got disconnected. We thank all of you for your patience and confidence in us.

With a very positive outlook, we expect that the coming quarters would be much stronger compared to this quarter. We would put our best efforts to make sure that we live up to the expectation both in auto as well as ADS segment.

With that, we also invite you towards October when we have our new hangar ready and full operational facility of the special process, please do visit us, and we will be able to demonstrate new that we have done. Thank you very much.