FratelliVineyard

- There is no explicit mention of any current or planned new fundraising through debt or equity during the Q3 & 9 Months FY '26 earnings call. - The company has undertaken borrowings primarily for capacity expansion, which is reflected in higher finance costs during the period. - Capex of approximately INR10 crores was incurred over 9 months FY '26 towards vineyards infrastructure and plant and machinery. - Management is focusing on strengthening operating leverage, improving efficiencies, and extracting value from existing infrastructure rather than raising new funds currently. - No guidance or discussion on fresh equity or debt issuance was provided in the call.

- Total capex of approximately INR10 crores incurred in 9 months FY '26, primarily towards vineyards infrastructure and plant & machinery. - Strategic investments made for capacity expansion, commissioning of new assets, and positioning the company for future scale and efficiency gains. - Progress on a wine tourism initiative with a signed term sheet with an operator; definitive agreement, design, and funding are in progress. Timeline to be shared in next 1-2 quarters. - Wine tourism segment planned as a luxury resort with under 40 keys, including profitable ex cellar door wine sales and brand-building opportunities. - Focus on strengthening operating leverage, improving efficiencies, and extracting greater value from existing infrastructure for future readiness and growth.

- Q3 FY26 showed early signs of growth after a challenging first half, with expectations for this positive trend to continue in FY27. - Luxury segment (INR 2,000+ range) grew nearly 50%, indicating strong demand from discerning consumers with better margin prospects. - The RTD (Ready-to-Drink) category, especially the Shotgun brand, is rapidly growing, approaching 100,000 case sales, showing strong potential in the Indian market. - Despite regulatory challenges impacting premium segments in the past, normalization is expected to aid growth going forward. - Overall revenue growth guidance for FY26 is about 7%, with a stronger Q4 anticipated. - Long-term vision targets INR 500 crores revenue by 2030, with opportunities across all categories due to wine’s low penetration (~1% of alcohol consumption). - Growth opportunities are particularly strong in RTDs and luxury segments, alongside ongoing expansion in Tier 2 and Tier 3 cities.

- Fratelli Vineyards expects revenue growth of roughly 7% for FY '26 with a stronger Q4 performance. - EBITDA margin target is around 10% for FY '27, improving from current levels. - Long-term EBITDA margins of 15% to 20% are considered achievable as scale and cost efficiencies improve. - The company is focused on strengthening operating leverage and cost efficiencies to improve profitability. - Q3 FY '26 saw EBITDA increase to INR 5.5 crores with margins at 8.6%, indicating positive operating leverage. - Margin improvements are driven by luxury segment growth, product mix upgrade, and cost management. - The business aims for quarter-on-quarter growth in FY '27, especially driven by premium and luxury segments. - Net profit (PAT) turned positive in Q3 FY '26, reflecting stronger operating performance and positive PBT.

The transcript provided on page 17 and the preceding pages does not mention any details about the current or expected order book or pending orders for Fratelli Vineyards Limited. The discussion primarily revolves around financial performance, market challenges, product positioning, regulatory environment, and growth outlook. There is no specific reference to order book status or pending orders during the earnings call held on February 16, 2026.