Analysts/Institutional Investor Meet/Con. Call Updates

INDO BORAX & CHEMICALS LTD. Regd. Office: 506. 5th Floor, Tulsiani Chambers, Free Press Journal Marg, Nariman Point. Mumbai. 400021, India. Ph.: 022 35218591 • CIN : L24100MH1980PLC023177 ·- Email : info~, indoborax.com • Website : www.indoborax.com Date: September 8, 2026 To, To, National Stock Exchange of India Limited BSE Limited Listing and Compliance Department Corporate Relationship Department Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (East), Dalal Street, Fort, Mumbai -400051 Mumbai - 400001 Symbol: INDOBORAX Scrip Code: 524342 Dear Sir / Ma' am, Subject: Transcript of the Investor/Analyst Earnings Call held on Wednesday, September 2, 2026. This is in continuation to our letter dated September 02, 2026 wherein we had informed regarding the audio link of the Earnings Call held on Wednesday, September 02, 2026 to discuss the Unaudited (Standalone and Consolidated) Financial Results of the Company for the quarter and three months ended June 30, 2026. In this regard and pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of the said Earnings Call. Company's website i.e. The transcript is also available on the hltps:/ /www.indoborax.com/Press-Media-Release.php Kindly take the above said information on record. Thanking You. Yours faithfully, For Inda Borax & Chemicals Limited Pravin Chavan Company Secretary and Compliance Officer Membership No.: Al6857 Indo Borax & Chemicals Limited Q1 FY '27 Earnings Conference Call September 02, 2026 Moderator: Good evening and welcome to the Q1 FY2027 Earnings Conference Call for Indo Borax & Chemicals Limited. We have with us today Mr. Suresh Kalra – Managing Director & CEO of the company. We also have Mr. Shashikant Bharuka – CFO, and Mr. Harsh Malhotra – Executive Director. 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 management discussion concludes. Should you need assistance during the conference call, please signal an operator by pressing “*” and then “0” on your touchtone phone. I would now like to hand the conference over to Mr. Suresh Kalra, Managing Director and CEO of Indo Borax & Chemicals Limited for his opening remarks and to share with the audience the company's performance in Q1 FY '27. Thank you, and over to you, sir. Suresh Kalra: Thank you, Sagar, and pleasure to be here again. Good evening, ladies and gentlemen. Very warm welcome to you for the Earnings Call for Q1 FY2027 of Indo Borax. As you know, Indo Borax & Chemicals Limited was incorporated in 1980, and it has emerged as a leading player in the Indian Boric Acid market, commanding almost 50% market share in the markets we operate in. We are the sole manufacturer of the IP-grade Boric Acid in the country with valid FDA and BIS licenses. Our manufacturing facility is in Pithampur, Madhya Pradesh and has the capacity of about 26,000 tons per year, which is comprising of about 20,000 tons per annum of Boric acid and about 6,000 tons per annum of Disodium Octaborate Tetrahydrate, which we very fondly call as DOT, and we are headquartered in Mumbai as you also know. The core product portfolio comprises of Boric Acid Technical, which is mostly used in steel industry, glass, ceramics, flame retardants, chemicals and metallurgical industry. We also have Boric acid I.P. grade, as I said, which is mainly used in the pharma industry and personal care products and of course DOT, which is used in agriculture as a micronutrient. Page 1 of 23 We also are planning Boron Oxide as a product, which we traded sometime in the past, which is used in fiberglass and the steel industry, and we also have traded in products like Borax Pentahydrate and Gypsum, which is one of our byproducts of the company. So, this is the product portfolio of the organization today. A brief on how the market looks like. Today in India, the Boric Acid market is estimated about 40,000 tons per annum and as per the available reports and as per out understanding is projected to grow at 8% CAGR. That means it will be close to about 53,000 tons plus in 2030. The steel and refractory segment accounts for almost 55% to 60% of the demand for Boric acid where most of our business today is. Now coming to, as you might already be aware, but in Financial Year 2026, it was January 23 when the company experienced a significant ownership change. It was a transition where Zenrock Chemicals has emerged as a new promoter of the company. In the fourth quarter of 2026, a new leadership team comprising of very experienced industry professionals, including our chief commercial officer, our chief financial officer, myself, we took charge of the company's operations. Since then, we have further strengthen our leadership team with our new Director of Manufacturing and a new Head of Supply Chain has joined us. That is something where we are saying the organization is going to be future ready. In July, the Board of Directors approved the scheme of amalgamation of the wholly-owned subsidiary of the company, Indo Borax Infrastructure Private Limited with the parent company. Additionally, in August, the Board approved the acquisition of 64.26% equity share of Vadodara- Headquartered, listed specialty chemical player, Kronox Lab Sciences, and I am very delighted to share this here again. Our continued focus on fiscal discipline, operational excellence, and the value creation enabled us to maintain healthy profitability and a strong balance sheet. The company closed Q1 FY '27 with a 31% growth in operating revenues and a 59% growth in the net profits. Our EBITDA and PAT margins were 28.1% and 22.3% respectively. And this growth was achieved through induction of, as I already said, the new leadership team, the capacity optimization, the better operational efficiencies, and improved realizations in our products in the market. We continue to envision greater possibilities with upcoming investments and capacities, new product lines, wider markets, and operational efficiencies. And more importantly, we remain confident of delivering sustainable growth and long-term value to our stakeholders in FY '27 and beyond. And I will emphasize more on long-term sustainable growth for the company. That is where we are making our organization future-ready. Page 2 of 23 Today, we are here with our CFO, Mr. Shashikant, and we also have Harsh Malhotra, our Executive Director, who is taking care of some strategic initiatives of the company. And we all three will take questions in the time to come. But at this moment, I would invite Shashikant here for sharing the results with all of you. Thank you. Shashikant, over to you. Shashikant Bharuka: Thank you, Suresh Ji . Ladies and gentlemen, before I give an overview of the results, I would like to confirm that a detailed investor update has been uploaded to the exchange and on our website. We would be happy to address any questions or suggestions therein. Now, regarding Q1 FY 27, I would like to provide an overview of our performance. During Q1 FY 27, our operating revenue was Rs. 70.36 crore, representing a 31.34% increase against Rs. 53.57 crore in Q1 FY 26. Our EBITDA for the quarter was up by 62.16% to Rs. 19.8 crore as compared to Rs. 12.21 crore in Q1 FY 26. This accounted for an EBITDA margin of 28.1% for the quarter. Our net profit increased by 59.31% to Rs. 16.25 crore in Q1 FY '27, from Rs. 10.2 crore in Q1 FY '26. The PAT margin improved by 430 basis points to 22.3% for the quarter under review. The EPS stood at Rs. 5.07 in Q1 FY '27. The performance for the quarter was supported by robust execution, improved capacity utilization and higher realization amid steady orders across domestic markets. With this point, I would now request the moderator to open the floor for questions and answers. Thank you. Moderator: [Showing first 8,000 characters — download PDF for full document]