Analysts/Institutional Investor Meet/Con. Call Updates

- ‘® +91 821428650050/1 iV E"’ B 491 §21 4;35531 , = admin@trivenipt.com POWER TRANSMISSION LTD. @® www.trivenipowertransmission.com By E-filing REF:TPTL:SE: Date: October 30, 2026 BSE Limited National Stock Exchange of India Ltd., P.J. Tower, Exchange Plaza, Dalal Street, Fort, Bandra-Kurla Compex, Bandra (E), MUMBALI - 400 001 MUMBAI - 400 051 STOCK CODE: 544824 STOCK CODE: TRIVENIPT Sub: Transcript of Analyst/ Investor Conference Call held on 26" October, 2026 Dear Sir/Ma’am, Pursuant to Regulation 46 of SEBI (LODR) Regulations, 2015, please find enclosed transcript of the Analyst/ Investor Conference Call held on 26™ October, 2026 post announcement of unaudited financial results of the Company for the Q2 & H1 FY27 ended on September 30, 2026. The transcript is also available on the website of the Company at: www.trivenipowertransmission.com You are requested to kindly take the same in your record Thanking you, Yours faithfully, For Triveni Power Transmission Limited Rakesh Kumar Yadav Company Secretary M. No. A62974 Encl: As above Qe RA RK woaR®S. WACATOSYHS. 150 45001:2018 NGHTS¥s| 150140012015 yoursys. ] Cortibfyi IeRd0 WACOT! Cortfbyi IeR0dS_ ReAC 0T TRIVENI POWER TRANSMISSION LIMITED Corporate Office: &th Floor, Express Corporate Park, Plot No. 15 & 16, Sector 16-A, Noida - 201301, Uttar Pradesh, India Operational Hub: Plot No. 1,23, Belagola Indl. Area, K.R.S Road, Metagalli (Post), Mysuru — 570016, Karnataka, India Registered Office: A-44, Hosiery Complex, Phase-Il Extension, Noida-201 305, Uttar Pradesh, India | CIN No.: U28110UP2024PLC212958 Triveni Power Transmission Limited Q2 & H1 FY27 Earnings Conference Call Transcript October 26, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Triveni Power Transmission Limited Q2 and H1 FY27 Earnings Conference Call. I now hand the conference over to Mr. Gavin Desa from CDR India. Thank you, and over to you. Gavin Desa: Thank you Nirav. Good day everyone, and a warm welcome to everyone participating in Triveni Power Transmission’ s Q2 and H1 FY27 earnings call. We have with us today Mr. Tarun Sawhney, the Vice Chairman and Managing Director; Mr. Suresh Taneja, the Group CFO; Mr. Rajiv Rajpal, CEO; Mr. Raman Kumar, the CFO of TPTL as well as other members of senior management team. I would now like to hand over to Mr. Tarun Sawhney to make his opening remarks. Over to you, Tarun. Tarun Sawhney: Good afternoon everyone and thank you for joining us for the Q2 FY27 earnings call of Triveni Power Transmission Limited. This is our first results discussion following the listing of TPTL, and we're pleased to begin this journey with a resilient operating and financial performance. Q2 FY27 revenue grew by 6% YoY and improved significantly sequentially. For the first half, revenue grew by 18%YoY. Importantly, our portfolio is becoming more diversified with strong growth in aftermarket and defence, helping to balance the time-related modulation in our product business. Profitability remained healthy. EBITDA margins were 36.1% in Q2FY27 and 35.7% in H1FY27. While the margins moderated year-on-year due to base effect, which I will describe later, it remained ahead sequentially reflecting the business mix and disciplined operating costs. We also generated positive free cash flow after capital expenditure in H1FY27, while continuing to invest in manufacturing capability, technology and new products. From a market perspective, the broader domestic environment remains supportive. India's Q1 FY27 GDP grew at 7.8%, while industrial production grew 8% YoY in August with manufacturing up 9% and capital goods output up 16.9%. At the same time, the global environment remains a bit uncertain because of geopolitical and energy price risks. For us, this reinforces the importance of a diversified customer base, disciplined execution in digitisation and a strong aftermarket franchise. A more relevant market definition for TPTL's gear business is the specialised global high-speed industrial gearbox market, catering to mission critical Page 1 of 17 applications, including compressors, turbines, pumps and other rotating equipment. External industry research estimates the combined OEM and aftermarket ecosystem at approximately $1.1 billion in 2026, and the two segments expected to grow between 6% and 7% through 2033. Engineering capability, reliability, installed references and life cycle support are important, they essential to the competitive differentiators in this market. India's FY27 Ministry of Defence allocation is ₹7.85 lakh crores. The capital outlay on Defence Services is ₹2.19 lakh crores, 21.8% above the fiscal '26 budget estimates. The government has earmarked ₹1.39 lakh crores for procurement for domestic defence industries. The policy direction towards indigenous procurement, capacity development is strategically favourable. However, defence programs have long deployment, approval and procurement cycles. So, we remain measured in translating the opportunity into near term revenue expectations. Turning towards the Q2 and H1 financial performance now. Q2FY27 revenue grew 6%YoY and 60% sequentially. The product revenue was lower YoY because of customer delivery schedules and certain supply chain factors, but this was partially offset by strong growth in aftermarket and defence. For H1FY27, overall revenue increased by 18%, which better reflects the progress across the portfolio than a single quarter comparison. The year-on-year margin comparison needs to be viewed in context of the revenue mix leading to higher material cost percentage and continued investments in people and manufacturing capabilities. However, we continue to focus on absolute profitability and increasing return on capital. It is important that we encourage our investors to look at four quarter rolling revenues or fiscal year revenues forecast and actual numbers because that will give a more appreciable understanding of the business as a whole rather than one quarter versus the other, because deliveries and dispatches can vary of products and all of our products have different margin expectations. Looking at the business update, our Industrial Gearbox business remains anchored in the engineered to order high speed applications for turbines, compressors, pumps and other rotating equipment. The quarter saw timing related softness in product revenue, but our strategic focus was remained unchanged, deepening our global OEM relationships, expanding our international vendor approvals and broadening the application base to improve export participation over the short and medium term. In fact, in the quarter under review, we had very significant orders that came in from a Middle Eastern customer and also from an African customer, which supports our efforts in terms of not just making it to AVLs, but then translating that into increasing businesses. Over subsequent quarters, I'm confident that this will translate into significant export revenues led by our OEMs and, of course, led by some of the strongest third-party customers that we now have the pleasure of serving. From an aftermarket perspective, it continued to be a strong contributor. Q2FY27 aftermarket revenues was up about 41% YoY, and the H1FY27 was up 29%, contributing 27% to the revenue. The business is strategically important because it allows us to serve the installed base through replacements, upgrades, spares, refurbishment and field services, including equipment from multiple OEMs. This opportunity grows as our reference base and service reach expands. The challenge in front of us is how to expand the export aftermarket base, and there are significant efforts being made by the organisation, both in terms of hiring talent and also in terms of fostering and Page 2 of 17 developing third party relationships to ensure that we can expand that aftermarket business internationally. And this is crucial towards the growth of the organisation in the short and medium term basis. As far a [Showing first 8,000 characters — download PDF for full document]