Analysts/Institutional Investor Meet/Con. Call Updates

Ref. RIR/SEC/13955/2026 3rd November, 2026 Bombay Stock Exchange Limited The Manager – Listing Department Corporate Relationship Department, National Stock Exchange of India Ltd., 1st Floor, Rotunda Building, Exchange Plaza, C-1, G-Block, P. J. Towers, Dalal Street, Bandra Kurla Complex, Bandra (East), Mumbai-400001 Mumbai - 400051 BSE SCRIP Code : 517035 NSE Symbol : RIR Subject.: Transcript of Q2 FY2026-27 Earnings/Conference call meeting Ref: Disclosure under Reg.30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, Please find attached herewith a copy of the Conference Call transcript in respect of Q2FY2026-27 Earnings/Conference call meeting of the Company dated 27th October, 2026. This is for your information and record. Thanking you. Yours faithfully, For RIR Power Electronics Limited Bhavin P Rambhia Company Secretary Encls : a/a “RIR Power Electronics Limited Q2 FY'27 Earnings Conference Call” October 27, 2026 MANAGEMENT: DR. HARSHAD MEHTA - NON-EXECUTIVE CHAIRMAN, RIR POWER ELECTRONICS LIMITED MR. N. RAMESH KUMAR - MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER, RIR POWER ELECTRONICS LIMITED MR. ANKIT SHAH - CHIEF FINANCIAL OFFICER, RIR POWER ELECTRONICS LIMITED Page 1 of 16 RIR Power Electronics Limited October 27, 2026 Moderator: Ladies and gentlemen, good day and welcome to the RIR Power Electronics Limited Q2 FY'27 Earnings Conference Call hosted by Veritas Reputation. 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 call is being recorded. I now hand the conference over to Mr. Abhishek Sawant from Veritas Reputation. Thank you and over to you. Abhishek Sawant: Thank you and good evening, everyone. On behalf of RIR Power Electronics, I extend a warm welcome to all participants joining us for the Q7 FY'27 Earnings Conference Call. We appreciate your time and interest in joining us today to discuss the company's performance for the quarter ended September 30, 2026. We truly value your continued interest and support. As you are aware, the financial results for the quarter have already been disclosed to the stock exchanges and are also available on our website. Accordingly, today's session is designed to provide deeper insights into our operational progress, industry outlook, and the company's long- term value creation journey. Following the opening remarks by our senior management, we will open the floor for a quick Q&A session. I kindly request you to keep your questions concise and relevant to allow a broader participation. Before we begin, I would like to remind you that some of the statements made in today's discussion may be forward-looking in nature. They are based on the company's current expectations and subject to various risks and uncertainties that could cause actual results and outcomes to differ materially. Joining us on the call today are Dr. Harshad Mehta, Non- Executive Chairman; Mr. N. Ramesh Kumar, Managing Director and Chief Executive Officer and Mr. Ankit Shah, Chief Financial Officer. With that, I would now like to hand over the call to our managing director and Chief Executive Officer, Mr. Ramesh Kumar, for the update on the financial performance and overview. Over to you, sir. Ramesh Kumar: Thank you, Abhishek. Good evening, everyone. Once again, I thank you all for joining us today for RIR Power's Q2 FY'27 earnings call. I am Ramesh Kumar, Managing Director and CEO, and it is my pleasure to walk you through the company's performance for the quarter ended September 30, 2026, followed by key operational updates and the outlook going forward. On the standalone basis, revenue stood at Rs. 33.98 crores compared to Rs. 27.16 crores in Q1 FY'27, making a 25.1% sequential quarter-on-quarter growth. While on year-on-year, revenue grew from Rs. 25.64 crores to Rs. 33.98 crores, reflecting a 32.5% increase. Page 2 of 16 RIR Power Electronics Limited October 27, 2026 Adjusted operational EBITDA for the quarter is Rs. 5.66 crores versus Rs. 4.36 crores in Q2 FY'26, making it to 29.8% year-on-year growth. Adjusted operational EBITDA margin is slightly decreased to 16.6% compared to 17% last year. The slight drop in percentage EBITDA is mainly due to increase in raw material costs by 2.8% due to geopolitical issues, as well as we had a couple of good events where we have spent some money, that is, SEMICON India, Transrail, and so many things. So these also added some expenses, so hence that small gap. Profit after tax came in at Rs. 4.45 crores as compared to Rs. 3.15 crores reported in Q2 FY'26, a 41.2% year-on-year increase. The PAT margin improved from 11.97% in Q2 FY'26 to 12.5%, reflecting a 53 bps expansion. Our share for Q2 stood at Rs. 0.56 compared to Rs. 0.47 in Q2 FY'26. Now going to half-yearly performance, on the standalone basis, revenue from operations stood at Rs. 61.14 crores compared to Rs. 46.66 crores in H1 FY'26, making it a 31.1% sequential year-on-year growth. Adjusted operational EBITDA for H1 is at Rs. 10.36 crores versus Rs. 7.25 crores in H1 FY'26, making it a 42.8% year-on-year growth. Adjusted operational EBITDA margin stood at 16.9% versus 15.5% last year. Irrespective of cost increase in other expenses the margins improved 140 bps over the last year level. Profit after tax came at Rs. 7.59 crores compared to Rs. 4.89 crores reported in H1 FY'26 making it 55.2% year-on-year increase. After backlog has improved 38.9% from 31st March '26, closing at Rs. 17.4 crores, this increase is giving us confidence for our future quarters. So, liquidity remains comfortable and our balance continues to be strengthened. Looking ahead, we continue to see a strong demand momentum across industrial, power and infrastructure segments and expected to maintain a healthy growth and profitability trajectory. Now, I would like also to take you through few important business updates. As we already said about our Odisha plant, the upcoming facility in Odisha, just to repeat for the new people who have joined, the project will be executed in two phases, where phase 1 consists of epitaxy and packaging and phase 2 is the fabrication. As you all know, clean room construction, infrastructure for sourcing the power supply through 33 kV line has already been completed Quarter 1 this year. Furthermore, this year, this quarter, we have completed the erection and installation of state-of-the-art silicon carbide epitaxial wafer manufacturing reactors at our facility. This development marks a significant milestone in the company's plan to establish India's first vertically integrated SiC semiconductor facility in Odisha, strengthening its commitment to developing advanced SiC manufacturing capability in our country. The readiness of this facility was also witnessed by senior officials of the Odisha state government in September this year. Our facility is expected to commence commercial production on completion of the remaining statutory and regulatory formalities. As mentioned, the key equipment required for SiC epitaxial wafer manufacturing process has been installed while essential power connections, utilities and other supporting infrastructure elements represents an important step towards operationalizing the facilities, thereby delivering India's first SiC epitaxial wafers for domestic and global market. Our focus on new product Page 3 of 16 RIR Power Electronics Limited October 27, 2026 development in the existing business for railways and power sector will continue to sustain the current growth trajectory. As I said earlier, the problem is now shifted from the market, the manufacturing, and because the order backlog has increased almost double. So, to ensure on- time delivery without compromising the quality, continuous imp [Showing first 8,000 characters — download PDF for full document]