Analysts/Institutional Investor Meet/Con. Call Updates

Santos Digitally signed by Santosh Ladha h LadhaDate: 2026.10.30 18:12:53 +05'30' “Iris Clothings Limited Q2 & H1 FY '27 Earnings Conference Call” October 28, 2026 MANAGEMENT: MR. HARSH VARDHAN SARDA – BUSINESS HEAD – IRIS CLOTHINGS LIMITED MR. NIRAJ AGARWAL – CHIEF FINANCIAL OFFICER – IRIS CLOTHINGS LIMITED Page 1 of 8 Iris Clothings Limited October 28, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Iris Clothings Limited Q2 and H1 FY '27 Earnings Conference Call. Please note that some of the statements made in today's discussion may be forward-looking in nature and may involve risks and uncertainties. Documents relating to company's financial performance is available to the stock exchange, trust you have been able to go through them. 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 over the conference over to Mr. Harsh Vardhan Sarda. Thank you, and over to you, sir. Harsh Vardhan Sarda: Good morning, everyone. Thank you for joining us today for our Q2 and H1 FY '27 earnings call. Over the past year, we have continued to build on our business fundamentals while focusing on expanding our market presence and strengthening our capabilities. Our aim has been to create a stronger foundation for sustainable growth by investing in our brand, distribution network and operational infrastructure. We have seen encouraging business momentum during the quarter with total income growing 40.3% year-on-year and net profit increasing 23.3% in Q2 FY '27. Alongside this performance, we have continued to make progress on several initiatives that we believe will support the next phase of growth for Iris Clothings and the DOREME brand. Our key priorities are to expand our distribution reach, strengthen our manufacturing capabilities and explore new growth opportunities across domestic and international markets. On the digital front, we see e-commerce as an important channel for reaching a wider consumer base and enhancing DOREME's visibility in the children's apparel segment. In line with this, we have entered into an agreement to sell DOREME products on Amazon and have also partnered with Myntra. These partnerships will strengthen our presence across leading online marketplaces and complement our existing distribution network. We have also entered the quick commerce segment, initially offering our products in Bengaluru and Hyderabad. In addition, we have launched newborn gift sets in 4-piece, 6-piece formats across multiple sales channels, expanding our offerings in the newborn category. Together, these initiatives will help us broaden our product reach, diversify our sales channels and make DOREME products more accessible to our customers. Alongside expanding our distribution, we are also investing in manufacturing capabilities to support our growing product portfolio, particularly for the infant wear segment. We are setting up a dedicated manufacturing facility for infant wear, which is expected to enhance production capacity and provide greater operational flexibility. This will help us cater more effectively to our evolving demand and support future product expansion. We have also commenced operations at a new in-house embroidery unit equipped Page 2 of 8 Iris Clothings Limited October 28, 2026 with machines imported from Japan. This capability will enable us to develop premium embroider collections, adding further depth to our product offerings and strengthening our manufacturing capabilities. Beyond the domestic market, we are also exploring opportunities to expand DOREME's presence internationally. Our participation in the Saudi Fashion and Tex Expo provided a platform to showcase our products and engage with potential large-format retailers, wholesalers and distribution partners. These interactions have helped us explore market requirements and assess opportunities across the Middle East and Africa. Our approach will remain measured with a focus on identifying suitable partners and establishing sustainable distribution channels. Taken together, these initiatives reflect our focus on building a stronger brand, expanding our product offerings and creating multiple avenues for growth. As we move ahead, our priority will be to execute these plans effectively while maintaining operational efficiency and a strong emphasis on profitable growth. We believe these efforts will strengthen Iris Clothings' position in the children's apparel segment and provide a solid foundation for its next phase of growth. Thank you. I will now hand over the call to Niraj Agarwal, our Chief Financial Officer, who will take you through the financial performance for Q2 and H1 FY '27. Niraj Agarwal: Thank you, Harsh. Good morning, everyone, and thank you for joining us today. I will take you through our financial performance for Q2 and H1 FY '27. We delivered strong revenue growth during the quarter, with total income increasing 40.3% year-on-year to INR62.22 crores compared with INR44.35 crores in Q2 FY '26. For H1 FY '27, total income grew 33.9% year- on-year to INR1,095.51 crores, reflecting continued business momentum. Our EBITDA stood at INR9.47 crores for Q2 FY '27 with an EBITDA margin of 15.2%. For H1 FY '27, EBITDA reached INR17.57 crores with margin improving to 16% compared with 15.1% in the corresponding period last year. This reflects an improvement in our operating profitability over the first half. Moving to the bottom line. Profit after tax grew 23.3% year-on-year to INR5.08 crores in Q2 FY '27. For H1 FY '27, PAT increased 34.7% to INR9.09 crores. PAT margins stood at 8.2% for the quarter and 8.3% for the first half. Overall, our financial performance reflects healthy revenue growth alongside improved first half profitability. Going forward, we will continue to focus on strengthening our operating efficiency, expanding our market presence and pursuing sustainable profitable growth. With this, we can now open the floor for questions. Thank you. Moderator: Thank you very much. The first question comes from the line of Vidhi Shah, an individual investor. Please go ahead. Vidhi Shah: Congratulations on the good quarter. So, I had a question. With the company expanding its presence across the e-commerce platforms such as Amazon and it recently entered into quick commerce in Bengaluru and Hyderabad. Could you elaborate on the overall strategy for growing the DOREME brand online? Page 3 of 8 Iris Clothings Limited October 28, 2026 Harsh Vardhan Sarda: Thank you so much for your question. So, see, the idea is to build the brand. So, we have been in the e-commerce segment for the last 3, 4 years in partnership with FirstCry. There we have established a decent presence on online. Now we are expanding that presence across categories. So, we are growing our own website, doreme.in. Along with that, we are partnering -- we have just partnered with Amazon. We are closing a deal with Myntra. And along with that, we have quick commerce presence as well. So, we have started our partnership with Big Basket, and we are looking to expand our product categories into multiple quick commerce platforms as well. So that is the overall strategy of how we want to create the brand DOREME online and take it across multiple marketplaces and channels. Vidhi Shah: Okay. So how has been the response across these channels so far? Harsh Vardhan Sarda: The response has been incredible, and we see some very encouraging numbers, which we think will grow over the next 1- 1.5 years. Vidhi Shah: Okay. And do we have any plans to expand into additional cities and platforms? Harsh Vardhan Sarda: We are looking at expanding into cities using our own doreme.in platform, where we are planning to [Showing first 8,000 characters — download PDF for full document]