HIMATSEIDE Q3 FY26 Guidance vs Delivery (HIMATSEIDE Management Mirror)

Geographic Diversification & Strategy

Reaffirmed: Management consistently targets reducing US revenue exposure to below 50% over the next 18 to 24 months.

Modified: In the Dec'25 Qtr, the specific target for the India business was recalibrated to reaching INR 400-500 crores within two years. This represents a shift from the Jun'25 Qtr ambition, where management had envisioned India revenue potentially reaching INR 800-1,000 crores over the "next few years" and doubling from the prior fiscal.

Reaffirmed: Priorities remain focused on non-US growth (Europe, EMEA, India) to mitigate volatility.