Key takeaway: Dhoot Transmission Limited reported strong Q1 FY2026-27 results, with revenue growth of nearly 50% YoY. Revenue from wiring harnesses increased by 44.6%, while non-wiring harness business grew by 67.7%, aided by the Multilink acquisition contributing 3% to revenue. EV revenue grew 79% YoY, now accounting for 27% of total revenue. EBITDA margins improved by 110 basis points to 15% compared to Q4 FY2026. Management noted that copper and brass prices rose but at a slower pace than the previous year, and finance costs declined due to optimized working capital debt levels. The Multilink integration is progressing, with expectations of scaling non-wiring harness business. Collaboration with Ride Vision on ADAS is underway, with plans for a joint venture. Management guided toward 25%-30% growth for the year, citing continued electrification trends and customer additions. The IPO proceeds are being utilized for capacity expansion in Jhajjar and Hosur plants, adding 15%-20% to capacity. The company emphasized its focus on localization, with 30%-35% of components now localized. Revenue from EVs is expected to grow beyond 30%-32% in the next 2-3 years. The company also discussed plans for EV charging business and potential expansion into 3-wheeler battery packs after consolidating in 2-wheelers. The discussion concluded with management expressing confidence in future growth and thanking participants for their engagement.