Transcript of the Audio Conference call for investors on 23rd October 2026

27th October 2026 To, To, BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Dalal Street Exchange Plaza, Bandra Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 513519 Scrip Code: PITTIENG Dear Sir, Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Transcript of the Audio Conference call for investors on 23rd October 2026 ****** With reference to our letter dated 16th October 2026, intimating about the conference call with investors to be held on 23rd October 2026, please find attached transcript of the aforesaid conference call. The above information is also available on the website of the Company at www.pitti.in. This is for your information and record. Thanking you, Yours faithfully, For Pitti Engineering Limited Mary Monica Braganza Company Secretary & Chief Compliance Officer FCS 5532 “Pitti Engineering Limited Q2 & H1FY27 Earnings Conference Call” October 23, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on 20th May 2026 will prevail MANAGEMENT: MR. AKSHAY S PITTI – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER, PITTI ENGINEERING LIMITED Page 1 of 21 Pitti Engineering Limited October 23, 2026 Moderator: We welcome you all to the Q2 and H1 FY27 Earnings Conference Call of Pitti Engineering 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 the date of this call. These statements do not guarantee the future performance of the company and may 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 touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Akshay S. Pitti, Managing Director and Chief Executive Officer from Pitti Engineering Limited. Thank you, and over to you, sir. Akshay Pitti: Good afternoon, everyone, and thank you for joining the Q2, H1 FY27 Earnings Conference Call of Pitti Engineering Limited. Along with me are members of the senior management team and our Investor Relations partners from SGA. Our financial results and investor presentation and related disclosures are available on the stock exchanges and on the company's website. I hope you have had the opportunity to go through the same. The global economy continued to face inflationary pressures and supply chain disruptions amidst the ongoing conflict in the Middle East. With geopolitical uncertainties likely to persist, we are also witnessing price increases across our raw materials. Despite these challenges, demand remained robust. India's investment-led growth and rising demand for value-added engineering solutions continue to provide a favorable long-term outlook for our business. At Pitti Engineering, we have evolved from a manufacturer of electrical laminations into a broader engineering solutions company, with capabilities across laminations, castings, machining, and other value-added components. This evolution has been driven by our focus on customer needs, expanding our manufacturing capabilities, and building long-term relations with leading global OEMs. Looking ahead, we believe three structural forces are shaping the demand for engineering industry and creating opportunities for us. First, the sustained investment in infrastructure and manufacturing. Ongoing public and private investment in railway, power, and manufacturing is expanding the installed base of rotating electrical equipment. As infrastructure and industrial activity grow, so does the need for motors, generators, and precision-engineered components that go into them. This creates opportunities for us to support customer across wider range of applications. Second, the growing electrification and digitalization of economy. Driven by AI data centers and infrastructure, the shift towards a more electrified and digital economy is increasing the need for efficient motors, generators, and reliable engineering components, as these applications evolve and customers are looking for products that deliver greater efficiency, precision, and Page 2 of 21 Pitti Engineering Limited October 23, 2026 performance. Our expanding capabilities across lamination, casting, and machining positions us to address this broad range of requirements. Third, the consolidation of global sourcing. International OEMs are increasingly looking to work with manufacturing partners that can offer scale, consistent quality, reliable execution, and wide range of capabilities. This creates an opportunity for integrated companies like us to deepen existing customer relationships and increase our share of business and participate in new platforms. Together, these trends provide a favorable long-term demand for our business. Our focus on converting these opportunities into sustainable growth by expanding capacity in a phased manner, strengthening our engineering capabilities, and continuing to deliver on customer expectations. A few months ago, we had announced the first of our major capacity expansion for a greenfield facility in Hyderabad covering the casting and machining. The project was to be commissioned in a phased manner through FY30. This investment was backed by strong order visibility from marquee customers across high-growth sectors such as data centers, mining, off-highway vehicles, and railways. Building on this, now we are announcing a new capacity expansion in lamination and machining. The objective is to consolidate our lamination operations in Bangalore and progressively increase our sheet metal capacity to 160,000 metric tons per annum and machining capacity to 1.31 million hours by financial year ‘31. This expansion will strengthen our ability to serve existing customers, pursue new opportunities, and support long-term growth. The total planned capex for this project is INR450 crores, comprising approximately INR125 crores towards land procurement and the remaining INR325 crores towards infrastructure, plant, and equipment. The new greenfield facility will provide a platform for consolidating the Bangalore operations and creating capacity for the next phase of growth. The entire investment will be incurred in a phased manner till FY31, with capital deployment linked to project milestones and capacity requirements. This approach will allow us to align investment with business needs while ensuring that capacity comes on-stream in a timely manner. The project will be funded through a combination of internal accruals and debt. Coming to the operational and financial performance, in terms of segment-wise revenue, Q2 FY27 traction motor and railway components continued to contribute the highest share of the revenue at 27%. Power generation accounted for 16%, followed by industrial and commercial applications at 12%, mining, oil, and gas at 10%, special purpose motors at 8%, and data centers at 7%. This diversified mix reflects the range of applications we serve and multiple demand drivers supporting our business. Among these segments, data centers have emerged as a strong near- term growth opportunity. As we have highlighted on multiple occasions before, the demand remains robust driven by significant power requirements of AI-led data center infrastructure, the need for reliable primary and backup power generation. Page 3 of 21 Pitti Engineering Limited October 23, 2026 We are seeing strong demand from customers such as Cummins, Marathon, and Nidec in this segment. We are also developing new opportunities with few additional marquee customers in the same segment. Beyond data centers, we [Showing first 8,000 characters — download PDF for full document]