Analysts/Institutional Investor Meet/Con. Call Updates

SG Finserve Limited Date: July 18, 2026 Secretary National Stock Exchange of India Ltd Listing Department Exchange Plaza, 5th Floor, BSE Limited Plot No. C/1, G Block, Department of Corporate Services Bandra – Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (E), Dalal Street, Mumbai-400001 Mumbai – 400 051 BSE Scrip Code: 539199 NSE Symbol: SGFIN Sub: Transcript of Conference Call held on July 14, 2026. Dear Sir/Madam, This is with reference to our intimation dated July 07, 2026 regarding Conference Call with investors and analysts on July 14, 2026 (Tuesday) – 04.30 PM IST. Please find the attached transcript of the aforesaid conference call. The above information is also available on the website of company i.e. www.sgfinserve.com Kindly take the same in your record. Thanking you For SG Finserve Limited Kush Mishra Company Secretary & Compliance Officer M.No. A62001 SG Finserve Limited (CIN: L64990DL1994PLC057941) Regd. Office: 37, Hargobind Enclave, Vikas Marg, East Delhi, Delhi-110092, Ph.: 0120-4041 400 Corporate Office: - 35-36 Kaushambi, Near Anand Vihar Terminal, Ghaziabad, Uttar Pradesh - 201010 E-mail: info@sgfinserve.com, Website: www.sgfinserve.com “SG Finserve Limited Q1 FY27 Earning Conference Call” July 14, 2026 MANAGEMENT: MR. VINAY GUPTA – CHIEF EXECUTIVE OFFICER – SG FINSERVE LIMITED MR. ANUBHAV GUPTA – GROUP CHIEF STRATEGY OFFICER MR. ABHISHEK MAHAJAN – CHIEF RISK OFFICER – SG FINSERVE LIMITED MR. LALIT GUPTA – CHIEF BUSINESS OFFICER – SG FINSERVE LIMITED MR. SANJAY RAJPUT – CHIEF FINANCIAL OFFICER – SG FINSERVE LIMITED MODERATOR: MR. SHREEPAL DOSHI – EQUIRUS SECURITIES SG Finserve Limited July 14, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q1 FY27 Earnings Conference Call of SG Finserve, hosted by Equirus Securities. 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 star then zero on your touchtone phone. Please note that this conference is being recorded. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions, and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risk and uncertainties that are difficult to predict. I now hand the conference over to Mr. Shreepal Doshi from Equirus Securities. Thank you, and over to you, Mr. Shreepal. Shreepal Doshi: Thank you, Swapnali. Good evening, everyone. We welcome you to the earnings conference call of SG Finserve to discuss the Q1 FY27 performance of the company. Today, we have the management of the company represented by Mr. Vinay Gupta, CEO, and Mr. Anubhav Gupta, Group Chief Strategy Officer, along with other senior management team. I would now like to hand over the call to the management for their opening remarks, post which we can open the forum for question and answer. Over to you, sir. Vinay Gupta: Thank you, Shreepal. Jai Hind, everyone. My name is Vinay Gupta, CEO of your NBFC, SG Finserve Limited. With me, I have my senior colleagues Anubhav, Group Chief Strategy Officer; Abhishek, CRO; Lalit, CBO; and Sanjay, CFO of the company. Thank you all for your continued interest in SG Finserve, and thanks to the Equirus team for hosting us today. We are pleased to share that we have delivered an excellent performance during Q1. We have achieved our highest ever quarterly PBT of INR72 crores, representing 27% quarter-on-quarter growth. Our loan book also has reached a record INR4,552 crores, growing 16% quarter-on- quarter and 82% year-on-year basis. Our net worth stands strong at INR1,539 crores, supported by a moderate leverage of 2.2x and capital adequacy ratio of strong 32%. This gives us ample headroom for future growth. During Q1, our annualized return on asset has been 5.1% and annualized return on equity has been 14%. We continue to maintain best-in-class asset quality with nil NPAs. Our lean team structure and strong digital capabilities have helped us achieve per employee profitability of more than INR2 crores per annum. Today, we are among approximately 1% of financial institutions in the country who are offering Factoring and TReDS solutions, which we have commercialized during the month of March and April. We continue to follow our deepening and widening strategy to grow our business by acquiring new customers and increasing our business with existing customers. We continue to launch new products and new structures to augment the growth. We have clear visibility to achieve a PBT of around INR300 crores given the current run rate which we are operating at. The INR300 crores PBT during the financial year FY27, which we Page 2 of 19 SG Finserve Limited July 14, 2026 have the visibility to, would entail around 75% year-on-year growth. With that, I would like to hand over the call back to our host, Equirus team. Thank you. Moderator: Thank you very much. We will now begin the question-and-answer session. We have the first question from the line of Abhi Jain from AJ Capital. Please go ahead. Abhi Jain: Hi, good evening. Am I audible? Vinay Gupta: Yes, Abhi, you are. Abhi Jain: Fine, Mr. Gupta. First of all, congratulations. I mean, you have delivered a staggering result and you are continuing with your promise of nil NPA, which is unheard of. So, there is a magic wand that you have, only of how you're doing it, but incredible results. So, congratulations to you and your team. So, just taking the fact forward of your guidance of INR300 crores of PBT this year, I'm just doing a back calculation and it seems like that the year-ending book will be close to about INR6,000 crores for the loan book, roughly taking into account the ROAs there at around 5%, 5.2%. So, with regard to that, I just want to understand your plan or if you can just give me a walkthrough of how do you see the end equity position at the end of the year? Because even if we -- because we already have a very strong CRAR and the debt-to-equity is quite strong. So, do you plan to continue that debt-to-equity ratio, which we roughly we are looking at year- end net worth of close to about INR2,500 odd crores, which means an equity raise of about INR600 crores, INR700 crores this financial year? Can you give some guidance or can you give some idea around how are you looking at equity raise this year? Vinay Gupta: Yes, thanks a lot, Abhi, for your well wishes. We don't have any magic wand. You know, the magic is in the business itself, in which we are operating. We are a supply chain focused NBFC, and we have seen supply chain inherently have lower credit cost. But nevertheless, coming to your question, we had 1.9x leverage on 31st March. Currently, we stand at 2.2. We are maintaining return on asset at around 5%, which has been stabilized now more or less. Now, with return on asset being stabilizing at 5%, our endeavour is to transit ourselves from a 2x leverage to 3x, so that our return on equity expand. INR1,460 crores was the equity base on March, INR20 crores we raised as a warrant conversion in April. With accumulated profit, I think we should exit the financial year around INR1,700 crores kind of equity. So INR6,000 crores number may be a little aspirational for March 2027 but INR5,500 crores is something which we have a visibility to. Abhi Jain: So, this INR1,700 crores excludes PAT for this year, right? Vinay Gupta: No, it includes. Because INR300 crores PBT translates to around INR225 crores kind of a PAT. So, it roughly reaches around INR1,700 crores kind of equity base as FY27 closing. Page 3 of 19 SG Finserve Limited July 14, 2026 Abhi Jain: So, you're basically saying that you are not planning to raise any equity during this financial year? Because you -- I think with this quarter results, you're already at about INR1,510 odd crores of boo [Showing first 8,000 characters — download PDF for full document]