Transcript for Earnings call for Q2 FY 2027 Financial Results held on October 27, 2026 is attached

A A AA ® ACUTAAS CHEMICALS LIMITED (Formerly known as Ami Organics Limited) A C U T S CIN No. : L24100GJ2007PLC051093 You and us: chemistry’s apex November 2, 2026 To, To, The Corporate Relations Department, The Listing Department BSE LIMITED, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5*" Floor, Plot no. C-1, Dalal Street, Fort G-Block, Bandra Kurla Complex, Mumbai- 400 001 Mumbai -400051 Scrip Code: 543349 NSE Symbol: ACUTAAS Dear Sir/Madam, Subject: Transcript of Earnings Call for Q2 FY27 financial results held on October 27, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we hereby enclose the transcript of the Earnings conference call held on October 27, 2026 post announcement of financial results for the quarter ended on September 30, 2026. The same will also be available at the website of Company at www.acutaas.com. This is for your information and records. Yours faithfully, For, ACUTAAS CHEMICALS LIMITED CS Ekta Kumari Srivastava Company Secretary & Compliance Officer Encl: As Above . 49175730 15366, +91 72279 77744 Q Registered Office: Plot No. 440/4, 5 & 6, 4 info@acutaas.com Road No. 82/A, GIDC Sac: hin, 4 “ www.acutaas.com Dist. Surat- 394230, Gujarat, India “Acutaas Chemicals Limited Q2 FY '27 Earnings Conference Call” October 27, 2026 MANAGEMENT: MR. NARESH PATEL – CHAIRMAN AND MANAGING DIRECTOR, ACUTAAS CHEMICALS LIMITED MR. ABHISHEK PATEL – VICE PRESIDENT, STRATEGY, ACUTAAS CHEMICALS LIMITED MR. BHAVIN SHAH – CHIEF FINANCIAL OFFICER, ACUTAAS CHEMICALS LIMITED MODERATOR: MR. SIDDHARTH GADEKAR – EQUIRUS SECURITIES PRIVATE LIMITED Page 1 of 18 Acutaas Chemicals Limited October 27, 2026 Moderator: Ladies and gentlemen, good day and welcome to Acutaas Limited Q2 FY '27 Earnings Conference Call hosted by Equirus Securities Private 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 the conference call, please signal an operator by pressing ‘*,’ then ‘0’ on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Siddharth Gadekar from Equirus Securities Private Limited. Thank you and over to you, sir. Siddharth Gadekar: Good evening, everyone and thank you for joining us on Acutaas Chemicals Q2 FY '27 Earnings Conference Call. Today, we have with us Acutaas Chemicals Management represented by Mr. Naresh Patel - Chairman and Managing Director; Mr. Abhishek Patel - Vice President, Strategy and Mr. Bhavin Shah - Chief Financial Officer. I would now like to invite Mr. Bhavin Shah to initiate the proceeding. Over to you, sir. Thank you. Bhavin Shah: Thank you, Siddharth. Good evening, everyone. We are pleased to welcome you all to our Earnings Conference Call to discuss Q2 and H1 FY '27 Financials. Please note that a copy of our disclosure is available on the investor section of our website as well as on the stock exchanges. Please do note that anything said on this call which reflects our outlook towards the future or which could be construed as a forward-looking statement must be reviewed in conjunction with the risks that the company may face. The conference call is being recorded and the transcript along with the audio of the same will be made available on the website of the company and exchanges. Please also note that the audio of the conference call is the copyright material of Acutaas Chemicals and cannot be copied, rebroadcasted or attributed in press or media without specific and written consent of the company. Now, I would like to hand over the floor to our CMD - Mr. Naresh Patel, for his opening statement. Over to you, sir. Naresh Patel: Thank you, Bhavin. Good evening, everyone. I hope you are all doing well. With Diwali just around the corner, I would like to extend warm wishes from the Acutaas family to you and your loved ones. May this festival season bring joy, prosperity, good health and success to everyone. Wishing you and your family a very Happy Diwali. Page 2 of 18 Acutaas Chemicals Limited October 27, 2026 I will start my remarks with Pharmaceutical Intermediate business. Demand environment remains robust and whatever cost pressures we face due to geopolitical issues, we have been able to pass them on successfully. On the generic side, several large products are going off pattern. We have already developed intermediates for those products long back. Therefore, we are benefiting from our strategy of developing products ahead of the market. Coming to CDMO: During our Q3 FY '25 Earnings Call, in January 2025, we had set our ambition of achieving Rs 1,000 crores in CDMO revenue by FY '28. Based on the current orders of existing as well as new CDMO contracts, we now believe we will achieve this target one year ahead of schedule. It means in FY '27, we will be achieving this Rs. 1,000 crores. Here, I would like to highlight that we continue to add very exciting products to our CDMO pipeline. A couple of these products, we have potentially to become a billion-dollar product for our innovative customers. Here, I would like to say that this CDMO business will be double in next 3 financial years. It means from Rs. 1,000 crores, the new target we had set is Rs. 2,000 crore by FY 2030. Now, let me move to Specialty Chemicals. Starting with Battery Chemicals: From industry point of view, demand continues to exceed supply. I am happy to say that this was our first quarter of commercial revenue from the Battery Chemicals business. Initial commercial shipments of our third product were dispatched during last quarter. We will see a scale-up of third product in coming quarters. We have also sent pilot-scale validation batches of fourth product to the customers. Overall, the start is very encouraging and I believe we will see a very strong ramp-up as we already have orders in our hands. Coming to semiconductor chemicals: I am happy to say that we have inaugurated our plant in South Korea ahead of schedule. This state-of-the-art facility will manufacture chemicals that go into photoresist, packaging materials, etching materials, and other semiconductor applications. We have been submitting multiple qualification batches to customers in South Korea, which showcase strong customer traction. I believe FY '28 will be a year of ramp-up for initial products, while we will continue to add more products into the basket. Moving to BFC: BFC is seeing strong order demand from its U.S. customers, as well as we have started receiving orders from Korean and Japanese customers. During the last quarter, our U.S. customer was acquired by another U.S.-based company. This caused a temporary pause in the shipment. Supplies have now resumed and operations are back to normal. Page 3 of 18 Acutaas Chemicals Limited October 27, 2026 On commodity chemicals, phasing out of old products is going on as per plan, and that is visible in our numbers as well. Turning to our performance for the quarter: We delivered strong revenue of 4,369 million Indian rupees, which is a growth of 42.7% year- on-year. This was driven by strong performance of our Pharmaceutical Intermediate business, whereas Specialty Chemicals business was muted during the quarter. Before I conclude, I would also like to revise our revenue growth guidance for current year from 25% to around 30%. We are also raising our EBITDA margin guidance between 38%-40% range for FY '27. With that, I would now like to hand over to our Vice President of Strategy, Abhishek Patel, who will walk you through the detailed business update. Abhishek Patel: Thank you, Naresh Bhai. Good evening, everyone. Let me share some additional insights into our business performance for the quarter, starting with Advanced Pharmaceutical Intermediate segment: This segment delivered robust performance with revenue of 4,020 million [Showing first 8,000 characters — download PDF for full document]