HLE Glascoat Ltd

- No new debt has been raised for the recent acquisition of OMERAS; it was entirely financed through internal accruals. - The acquisition cost of €2.75 million (about Rs. 27.5 crores) does not stretch the balance sheet or add to debt. - The broad capital allocation strategy continues to prioritize keeping debt within reasonable levels and pursuing debt reduction at the consolidated level. - There is no indication of immediate plans for fresh fundraising through debt or equity mentioned in the call. - The company focuses on internal capital generation and prudent capital management for acquisitions and growth.

- No major CAPEX required from a capacity point of view as current installed capacity utilization at OMERAS is below 50% (Page 17). - Incremental CAPEX might be needed for balancing equipment and maintenance but no immediate major CAPEX planned (Page 8). - Land available for future expansion (~21,000 sq. meters), but no immediate plans to build more capacity (Page 8). - Expansion to be organically leveraged without significant fresh capital outlay (Page 17). - Acquisition financed entirely from internal accruals; no additional debt taken (Page 16). - Strategic focus on organic growth and leveraging technology, with no present plan for aggressive inorganic investments beyond the current strategy (Pages 11, 13). - No CAPEX planned for turning the acquired business around; expected turnaround within 3-4 quarters (Page 8).

- HLE Glascoat expects consolidated topline growth of 16%-18% annually, potentially closer to 20% based on current order book (Page 12). - OMERAS acquisition will add incremental growth over this base but will not be included in the 20% calculation (Page 12). - For OMERAS, 12-month revenues are expected to be between €20 million and €25 million in FY '27, as FY '26 will reflect only partial consolidation and transition (Page 11-12). - Capacity utilization at OMERAS is currently below 50%, indicating scope for growth without major CAPEX (Page 8). - Execution timelines for projects vary from 5-6 months for smaller orders to over 2 years for larger orders (Page 15). - Pharmaceutical segment has shown double-digit growth and is expected to continue performing well in the next 1-2 years (Page 12). - Overall, mid to high teens EBITDA margins and growth driven by synergies and expanding markets are targeted (Page 12).

- HLE Glascoat expects consolidated topline growth of 16%-18% annually, potentially closer to 20% considering the current order book (Page 12). - OMERAS acquisition is anticipated to contribute additional growth beyond the existing business, with FY '27 revenues expected between €20-25 million (Pages 11-12). - EBITDA margins for OMERAS are targeted in the double-digit mid-teens range, aligning with HLE's European business profitability (Page 15). - The overall operating margin across businesses aims for mid to high teens, with Kinam exceeding 20% operating margin (Page 12). - The acquisition is expected to be EPS accretive within 2 to 3 quarters post-integration (Page 15). - ROE and ROCE should improve positively due to acquiring OMERAS below book value; no business multiple premium was paid (Page 15).

- Current order book of OMERAS is roughly around €7 million (page 7). - There is an inquiry pipeline of about €28 million under negotiation, which will be executed over 12-18 months (page 7). - The order book is partially executed already (page 6). - Orders include a mix of tanks and facades; biogas is still under discussion and not included in these numbers (page 7). - Orders taken exclude any with potential liability related to delayed execution or penalty clauses (page 6). - The order book and pipeline provide a healthy base for expected profitable business turnaround within 3-4 quarters (page 8).