Analysts/Institutional Investor Meet/Con. Call Updates

2nd November 2026 To, To, The Manager - Listing Department, Manager - Department of Corporate Services The National Stock Exchange of India Ltd BSE Limited Exchange Plaza, 5th floor, Jeejeebhoy Towers, Plot no. C/1, “G” Block, Dalal Street, Fort, Bandra-Kurla Complex, Mumbai - 400 001 Mumbai-400051 Symbol: APCOTEXIND Security Code: 523694 Dear Sir/ Madam, Sub: Transcript of Earnings Conference Call held on 29th October 2026 Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in furtherance of our letter dated 29th October 2026, informing the exchanges regarding Audio recording of the earnings conference call in respect of the Financial Results of the Company for the quarter and half year ended 30th September 2026, we wish to inform you that the transcript of the earnings conference call held on 29th October 2026, is hereby enclosed. The said transcript has also been made available on the Company’s website and can be accessed at: https://apcotex.com/investor-quarterly-report Kindly take the same on record. Thanking you, For Apcotex Industries Limited Drigesh Mittal Head – Company Secretary & Legal REGISTERED OFFICE CORPORATE OFFICE TALOJA FACTORY C-403/404, 4th Level, Wing C, NKM International House, Plot No. 3/1, Tower 1, Seawoods Grand Central, 178, Backbay Reclamation, MIDC Industrial Area, Taloja, Sector 40, Navi Mumbai-400706 Babubhai M. Chinai Marg, Dist. Raigad-410208 Maharashtra, India Mumbai-400020, Maharashtra, India Maharashtra, India T: +91-22-62060800 T: +91-22-35406092 T: +91-22-71403500 Apcotex Industries Limited CIN No.: L99999MH1986PLC039199 www.apcotex.com Apcotex Industries Limited Q2 & H1 FY '27 Earnings Conference Call October 29, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q2 & H1 FY27 Earnings Conference Call of Apcotex Industries Limited. 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 “*” followed by “0” on your touchtone phone. Please note that this conference is being recorded. At this time, I would like to hand over the conference to Ms. Purvangi Jain from Valorem Advisors. Thank you and over to you. Purvangi Jain: Thank you. Good afternoon, everyone and a warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the investor relations of Apcotex Industries Limited. On behalf of the company, I would like to thank you all for participating in the company's Earnings Call for the 2nd Quarter and first half of the Financial Year 2027. Before we begin, a quick cautionary statement: Some of the statements made in today's con call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Such statements are based on management's beliefs as well as assumptions made by and information currently available to the management. Audiences are cautioned not to place any undue reliance on these forward-looking statements in making any investment decision. The purpose of today's earnings conference call is purely to educate and bring awareness about the company's fundamental business and financial quarter under review. Now, I would like to introduce you to the management participating with us in today's Earnings Call and hand it over to them for their opening remarks. We have with us Mr. Abhiraj Choksey – Vice Chairman and Managing Director, and Mr. Vivek Thakur – Chief Financial Officer. Page 1 of 12 Without any delay, I would now like to hand the call over to Mr. Vivek Thakur for his opening remarks. Thank you and over to you, sir. Vivek Thakur: Thank you, Purvangi. Good afternoon, everyone. It is a pleasure to welcome you all to the Earnings Conference Call for the 2nd Quarter and First Half of Financial Year 2027. I hope you had an opportunity to review the Financial Statements and Earnings Presentation which have been circulated and uploaded on our website and the stock exchange. Let me provide you with a brief overview of the Financial and Operational Highlights for the period under review: For the 2nd Quarter of Financial Year 2027, operating revenues stood at Rs. 499 crores. This registered a growth of 48% year-on-year. This was supported by a 7% increase in sales volumes. Export volumes also witnessed a recovery during the quarter, reversing the decline seen in Quarter 1 of FY27. Operating EBITDA stood at Rs. 58 crores, registering a growth of 44% year-on-year. This was driven by modest volume growth and enhanced contribution margin following strategic price adjustments. EBITDA margins stood at 11.69% compared to 12.06% in the corresponding quarter of the previous year. Profit after tax for the quarter stood at Rs. 35 crores. This reflected a growth of 38% year-on- year with PAT margins of 6.98%. Despite the moderation in profitability compared to previous quarters, our overall business performance has remained strong. It was supported by sustained volume growth and strategic pricing actions. For the first half of FY27, operating revenues stood at Rs. 1025 crores, registering a growth of 44% year-on-year. Operating EBITDA stood at Rs. 175 crores, registering a significant growth of 121% year-on-year with EBITDA margins expanding by 599 basis points to 17.12%. Profit after tax stood at Rs. 114 crores, reflecting a growth of 156% year-on-year. PAT margins have improved to 11.11% from 6.25% earlier. The period marked our strongest ever half-yearly financial performance with record EBITDA, profit before tax, profit after tax. This strong performance was supported by volume growth, improved margins and our ability to effectively navigate market conditions. During this quarter, other expenses have risen a little bit. This was driven by higher rate costs from geopolitical supply chain disruptions. While these macroeconomic pressures persist, we have successfully offset a significant portion by passing these costs through to the market. Alongside our financial performance, we continued to make progress on our strategic expansion plans. Page 2 of 12 With the execution of Rs. 210 crore CAPEX projects at our Valia facility have remained largely on track. During this quarter, working capital requirements continued to remain elevated due to higher input costs. This resulted in increased inventory values as well as receivables. We also continued to maintain a net cash positive position as of 30th September 2026, reflecting our financial strength. Overall, our performance during the period reflects the strength of our operations and our continued focus on profitable growth. With this, now I open the floor for question-and-answer session. Thank you. Moderator: Thank you very much. We will now begin the question-and-answer session. We will wait for a moment while the question queue assembles. We will take our first question from the line of Aditya Khetan from SMIFS Institutional Equities. Please go ahead. Aditya Khetan: Thank you, sir, for the opportunity to ask a couple of questions. Sir, when we look in this quarter, obviously onto the gross margin side, we are witnessing a pain, barring last quarter of exceptional gains, even like we are standing at some four-quarter low in terms of gross. What changed in terms of cost? Was it because of higher cost we had built and the prices subsequently went down, we had to book some inventory losses? And secondly, export volumes like you mentioned that have been recovered in this quarter. Because, sir, barring what we understand that the geopolitical tensions are still there and even freight and container availability still remains an issue. So, what has led to this jump in export volumes? Was it the customer uptake was quite strong in export market and you had got the containers or wha [Showing first 8,000 characters — download PDF for full document]