Analysts/Institutional Investor Meet/Con. Call Updates

September 7, 2026 BSE Limited National Stock Exchange of India Limited 20th Floor, P.J. Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex, Bandra (E) Mumbai – 400001 Mumbai – 400 051 Scrip Code: 544868 Scrip Symbol: MILKYMIST Dear Sir/Madam, Subject: Transcript of Q1 2026-27 Analyst/ Investor Earnings Conference call held on September 1, 2026 In continuation to our intimation dated August 26, 2026, with respect to the scheduling of a conference call with the analysts/institutional investors, post results for the quarter ended June 30, 2026 and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of Q1-2026-27 Analysts/Investor Earnings Conference call held on Tuesday, September 1, 2026. The above disclosure is also being made available on the website of the Company at https://www.milkymist.com This is for your information and records. Thanking You, For Milky Mist Dairy Food Limited (formerly Known as Milky Mist Dairy Food Private Limited) S Prakash Company Secretary and Compliance Officer Membership No: A22495 “Milky Mist Dairy Food Limited Q1 FY27 Earnings Conference Call” September 01, 2026 E&OE: This transcript is edited for factual errors. In case of discrepancy, the audio recording uploaded on the stock exchange on September 01, 2026, will prevail. MANAGEMENT: MR. T. SATHISHKUMAR – CHAIRMAN AND MANAGING DIRECTOR – MILKY MIST DAIRY FOOD LIMITED DR. K. RATHNAM – WHOLE-TIME DIRECTOR AND CHIEF EXECUTIVE OFFICER – MILKY MIST DAIRY FOOD LIMITED MR. BISWAJIT MISHRA – CHIEF FINANCIAL OFFICER – MILKY MIST DAIRY FOOD LIMITED MODERATOR: MS. DEVIKA SHAH – ADFACTORS PR Page 1 of 20 Milky Mist Dairy Food Limited September 01, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 FY27 Earnings Conference Call of Milky Mist Dairy Food Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing “*” then “0” on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Devika Shah from Adfactors PR. Thank you and over to you, ma’am. Devika Shah: Good morning everyone, and welcome to the Q1 FY27 Earnings Conference Call of Milky Mist Dairy Food Limited. Today, we have with us Mr. T. Sathishkumar, Chairman and Managing Director; Dr. K. Rathnam, Whole-Time Director and CEO; Mr. Biswajit Mishra, Chief Financial Officer. We will begin with the opening remarks from the management, followed by a Q&A session. Please note that this call may contain forward-looking statements about the company, which are based on the beliefs, opinions, and expectations of the company as on the date of this call. These statements are not the guarantee of future performance, and involve risks and uncertainties that are difficult to predict. I now hand over the conference to Dr. K. Rathnam, Whole-Time Director and CEO, for his opening remarks. Thank you, and over to you, sir. K. Rathnam: Thanks Devika. Good morning to everyone, and thank you all for joining us today. A warm welcome to all of you, and thanks for joining our maiden earnings call after the listing. On this call, we are joined by Mr. Sathishkumar, the Chairman and Managing Director of Milky Mist; Mr. Biswajit Mishra, the Chief Financial Officer; and Adfactors PR, our Investor Relations consultants. The results and the presentations are uploaded on the stock exchange and company website. I hope everyone had a chance to look at them. First and foremost, I would like to take this opportunity to express my sincere gratitude to all our shareholders for the trust and the faith they have placed on us. A warm welcome to our new shareholders to the Milky Mist family, and thanks all our stakeholders such as our employees, customers, business partners, bankers, and legal advisors, whose continued support and contribution were instrumental in making our journey for the successful listing and thereon. As this is our first earnings call, I would like to take a step back and introduce Milky Mist brand, who we are, and what we do. I am sure you must have gone through the website, the presentations which we uploaded. Nevertheless, I would like to brief about our company. Milky Mist was one of the first private companies in India, the first one to launch branded packaged paneer way back in 1997 - 1998, when everybody was marketing loose paneer at that point of time. Built around paneer, were the other basic products such as ghee and butter, we were pioneer in launching bucket curd in 1 kg format in and around 2009 -2010. Over a period of time since starting our paneer in 1997 - 1998 and building around basic product portfolios, we went into a Page 2 of 20 Milky Mist Dairy Food Limited September 01, 2026 major expansion of setting up of the greenfield project, which came into fully operational in 2019. Between 2019 and now, we had a kind of a capacity building of all the product manufacturing lines, product expansion and product categories, establishing end-to-end logistics, and a strong market expansion across the country. What we started as a single product idea has grown today into a diversified, value-added dairy and packaged food company with 22+ product categories having more than 650 (Note: this is said erroneously. Read it as 640) SKUs as of June 30th, 2026. We position Milky Mist as a value-added FMCG company, built around a diverse portfolio of consumer-focused food products, supported by a strong distribution network with continuous innovation, and a track record of a strong financial performance. When we talk about the product portfolio, at Milky Mist, we have built a very diversified, value- added FMCG portfolio. Our business is defined by different product categories and value addition to our product portfolio, a very focused, consumer-centric approach, and our ability to build brands and scale across markets. This focused approach has been central to the growth and profitability we are delivering today and will continue to focus on. One, our product portfolio caters to all age groups of consumers, meeting their requirements from breakfast to dinner table. We market our products under our flagship brand name Milky Mist and some sub-brands including SmartChef, Capella, Briyas, and Asal. We have five different segments to cater to the needs of the consumers. At the foundation are the Basic needs products for the consumers such as paneer, butter, curd, ghee, and yogurt, and UHT milk, which anchor everyday household consumption and drive volume and brand recall. The second category of the products which we built around is the indulgence products includes cheese, sweetened condensed milk, cream, and khova, to name a few. We have an impulse buying range or on-the-go products category that comprises of yogurts of protein in nature and regular consumption, milkshakes, lassi, buttermilk, and chocolates. Our portfolio further extends to after-meal products to have to get a kind of a pleasure and satisfaction, those products such as ice creams, gulab jamun, mishti doi, and shrikhand. And finally, we have a category for our healthy choices segment such as high-protein paneer, high-protein natural cheddar cheese, Greek yogurt, and Skyr. It's one of the fastest-growing categories in our product offering. Through our wide range of product portfolio, revenue is not limited to a single product category, but diversified across occasions and price points. When we talk about our manufacturing, logistics, and distribution strength, our greenfield plant at Perundurai manufacturing facility in Erode, Tamil Nadu, is dedicated to all type of value- added dairy and food products, such as, as I explained previously, including frozen, RTE, and RTC products. Page 3 of 20 Milky Mist [Showing first 8,000 characters — download PDF for full document]