as attached

July 22, 2026 BSE Limited National Stock Exchange of India Limited, Corporate Relation Department Listing Department, 1st Floor, New Trading Ring Exchange Plaza, Rotunga Building Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Bandra (East) Mumbai - 400 001 Mumbai – 400 051 Stock code: 500378 Stock code: JINDALSAW SUB.: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Transcript of Investor conference call on the quarterly Financial Earnings of the Company Dear Sirs, This is with reference to the captioned subject and further to our letters dated July 10, 2026 and July 15, 2026, please find attached the transcript of the conference call organized by the ICICI Securities Limited for analyst and investors on the Un-audited (Standalone & Consolidated) financial results (Q1FY27) of the Company for the quarter ended June 30, 2026 on Wednesday, July 15, 2026 at 16:00 Hrs. (IST). The same has already been uploaded on the website of the Company. This is for your information and record please. Thanking you, Yours faithfully, For JINDAL SAW LTD., Sunil K. Jain Company Secretary FCS- 3056 “Jindal Saw Limited Q1 FY27 Earnings Conference Call” July 15, 2026 MANAGEMENT: MR. NARENDRA MANTRI – CHIEF OPERATING AND FINANCIAL OFFICER – JINDAL SAW LIMITED MR. VINAY KUMAR GUPTA – PRESIDENT AND HEAD TREASURY – JINDAL SAW LIMITED MR. RAJEEV GOYAL – SENIOR VICE PRESIDENT, CORPORATE FINANCE – JINDAL SAW LIMITED MODERATOR: MR. VIKASH SINGH – ICICI SECURITIES LIMITED Page 1 of 15 Jindal Saw Limited July 15, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Jindal Saw Q1 FY27 Earnings Conference Call hosted by ICICI Securities Limited. 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 risks and uncertainties that are difficult to predict. 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 the conference call, please signal an operator by pressing star then zero on your touch- tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Vikash Singh. Thank you, and over to you, sir. Vikash Singh: Thank you, Anushka. Good evening, everyone. Welcome to Jindal Saw Q1 FY27 Results Conference Call. I would like to thank the management to give us the opportunity to host them. From the management side, we have with us Mr. Narendra Mantri, Chief Operating and Financial Officer; Mr. Vinay Kumar, President and Head Treasury; and Mr. Rajeev Goyal, Senior Vice President, Corporate Finance. Without taking any much time I'll hand over to the management for their opening remarks. Over to you, sir. Vinay Kumar Gupta: Thanks, Vikash. Good afternoon, ladies and gentlemen. I'm Vinay Gupta, representing Jindal Saw. On behalf of the management team, including Mr. Narendra Mantri and Mr. Rajeev Goyal, it is a pleasure to welcome you to our conference call for the first quarter of financial year 2027, ending June 30, 2026. We also appreciate the ICICI Direct team for hosting this session and coordinating the discussion. The Board approved financial results for quarter 1 of financial year '27 on July 14, 2026. These were filed with the stock exchanges, and we assume you have reviewed them. Now -- let us now present the operational and financial performance of the company and its subsidiaries. In this presentation, we will also cover the financial performance for quarter 1 business scenario and updates on the projects in UAE and Saudi and a few other things. In terms of our financial performance on a standalone basis, the company registered a total income of INR3,756 crores in quarter 1 of financial year '27 against INR3,327 crores in Q1 of FY26, representing an increase of approximately 13%. EBITDA for quarter 1 of '27 stood at INR341 crores against INR560 crores in quarter 1 of '26, representing a decline of approximately 40%. PBT for Q1 of '27 is reported at INR145 crores against INR307 crores in quarter 1 of FY26, representing a decline of approximately 53%. PAT for Q1 of '27 is reported at INR110 crores against INR364 crores in quarter 1 of FY26, representing a decline of approximately 70%. On a stand-alone basis, total income stood at INR4,476 crores for the quarter 1 on consol as compared to INR4,103 crores in quarter 1 of FY26, representing an increase of approximately Page 2 of 15 Jindal Saw Limited July 15, 2026 9%. EBITDA for quarter 1 of '27 stood at INR421 crores against INR688 crores for quarter 1 in FY26, representing a decline of approximately 39%. PBT for quarter 1 in FY27 is reported at INR148 crores as against INR364 crores for quarter 1 of FY26, representing a decline of approximately 60%. PAT for quarter 1 of FY27 is reported at INR91 crores, against INR415 crores in quarter 1 of FY26, representing a decline of approximately 78%. Now in terms of our indebtedness, as of 30th June 2026, the standalone net debt narrowed to INR2,345 crores as that -- and -- versus INR2,453 crores as of 31st March 2026. This includes INR526 crores of long-term debt. This is primarily INR500 crores out of this is from LIC, NCD which is repayable in 3 equal installments in FY28, '29 and '30. The net institutional debt at consolidated basis has reduced to INR2,472 crores as compared to INR2,528 crores as of 31st March 2026. And the long-term debt out of this was INR536 crores. In June 2026, CARE Ratings has affirmed CARE A1+ rating for short-term debt facilities, including commercial paper, and CARE AA, Outlook Stable for long-term facilities. They basically reaffirm, so there's no change in the rating. Now let us discuss the progresses of our business. In terms of operations, for the first quarter ending 30 June 2026, performance remained muted, broadly similar to the weak trend seen in quarter 4 of the previous year, with exports, water infrastructure demand and seamless pipe certifications, all acting as constraints on our business. While we hold a strong order book, including a 6 lakh metric ton work order from Saudi Arabia, all outward shipments have been suspended since March 2026. Geopolitical situation between U.S. and Iran brought MENA region trade to a standstill this quarter by blocking the Strait of Hormuz. A short-lived diplomatic breakthrough in mid-June offered some hope for recovery. However, the subsequent collapse of these peace talks has limited our short-term visibility. Company had started executing a few orders on export side to non-MENA region. Due to heavy traffic at Indian port, a few of the shipments have been deferred to Q2 of financial year '27. In the domestic market, the water segment remained weak as Jal Jeevan mission-linked project execution continued to be affected by delayed release of central funds and title scrutiny of the state projects. Multiple states reported pending dues and slowed project time lines, reinforcing a demand slowdown for pipe supply tied to government rural water schemes. However, the company saw a recovery in Q1 of this year, driven by higher ductile iron pipe volume -- sales volume for execute various pipe project orders with us. Now in terms of company-related matters, which had affected the business specifically in Q1, the company's seamless pipe business was additionally impacted because of its API license remains suspended from January 2026 until mid-June '26. This limited our ability to participate in certified oil and gas orders during the quarter. API reinstatement enables the company to resume API-certified seamless pipe supplies and participate in tender that requires the API monogram. Page 3 of 15 Jindal Saw Limited July 15, 2026 In terms of a couple of new opport [Showing first 8,000 characters — download PDF for full document]