Analysts/Institutional Investor Meet/Con. Call Updates

Ref. No.: SIL/CHD/2026-27/27072026 Date: July 27, 2026 The Manager The Manager Listing Department Listing Department BSE Limited (BSE) National Stock Exchange of India Ltd ( NSE) Corporate Relation Department Exchange Plaza, C-1 Block G, Bandra Kurla Phiroze Jeejeebhoy Towers, 25th Floor Complex, Bandra, Mumbai – 400051 Dalal Street, Mumbai – 400001 BSE Scrip Code: 526951 Trading Symbol : STYLAMIND Subject: Transcript of Investor and Analyst Meet Dear Sir/Madam, In terms of Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of the conference call with Investors and analysts held on Friday, July 24, 2026 in respect of Unaudited Financial Results of the Company for the First Quarter (Q1) ended June 30, 2026. You are requested to kindly take the above on your records. Thanking you, Yours sincerely, For Stylam Industries Limited Dhiraj Kheriwal Company Secretary & Compliance Officer Encl: As above Stylam Industries Limited Regd. Office: SCO 14, Sector 7C, Madhya Marg, Chandigarh (INDIA)-160019, T:+91-172-5021555/5021666, F: +91-172-5021495 Works I: Plot No. 192-193, Industrial Area Phase-1, Panchkula (Haryana) INDIA - 134109, T:+91-172-2563907/2565387 Wotks II: Village Manak Tabra towards Raipur Rani, Mattewala Chowk, Distt. Panchkula (Haryana) W: www.stylam.com, E-mail: cs@stylam.com CIN: L20211CHl 991PLC0l 1732 (Govt. of India recognised Star Export House) “Stylam Industries Limited Q1 FY27 Earnings Conference Call” July 24, 2026 MANAGEMENT: MR. JAGDISH GUPTA – MANAGING DIRECTOR – STYLAM INDUSTRIES LIMITED MR. MANIT GUPTA – WHOLETIME DIRECTOR – STYLAM INDUSTRIES LIMITED MR. KISHAN NAGPAL – CHIEF FINANCIAL OFFICER – STYLAM INDUSTRIES LIMITED MODERATOR: MS. ANSHIKA PATNAIK – SYSTEMATIX INSTITUTIONAL EQUITIES Page 1 of 15 Stylam Industries Limited July 24, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Stylam Industries Limited Q1 FY27 earnings conference call hosted by Systematix Shares and Stocks. 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 touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Anushka Patnaik. Thank you and over to you, ma'am. Anushka Patnaik: Thank you. On behalf of Systematix Institutional Equities, we welcome you all to the Q1 FY27 Conference Call of Stylam Industries Limited. From the management side, we have Mr. Jagdish Gupta, Managing Director; Mr. Manit Gupta, Wholetime Director; Mr. Kishan Nagpal, Chief Financial Officer. I'll now hand over the call to the management for their opening remarks, followed by the Q&A session. Over to you, sir. Jagdish Gupta: Ma'am, I think we already submitted, you already mentioned it is our pleasure to welcome you all on Stylam Industry Limited Q1 financial results 26-27 and it is already on the, we submitted to NSE and BSE and it is available on Stylam website also. So now you can have any more about the company so you can start with the question also. -- Hello? Moderator: Sir, we can hear you. Jagdish Gupta: Yes. So it is already on the website, only all financial results submitted to investor presentation is also on NSE and BSE and on Stylam website also. I'm sure everybody has gone through all already. So, you can start with the question. Moderator: Thank you very much. We will now begin the question-and-answer session. we take the first question from the line of Dhruv Bajaj from GrowthSphere Ventures. Dhruv Bajaj: Yes. So, thank you so much for the opportunity, firstly, congratulations on a great set of results. We always thought that 20% EBITDA margin was a ceiling for you guys but you guys even cross that number in this particular quarter. So, my first question was, sir, what causes margin spike beyond this 21% kind of range despite lower exports Q-on-Q basis? Like what's the sustainable margins? Once exports starts to ramp up further post the new capex coming in because we are unable to understand the exact margin trajectory of this type of business. So, if you can guide on that front. Jagdish Gupta: I think the margins will remain the same, that is why even when the new capex will start end of August. So, we can expect the similar kind of margins 19%, 20% plus. Dhruv Bajaj: Sir, did we get so inventory type of benefit in this particular quarter because we sort of the 20% kind of range that we maintained earlier? Jagdish Gupta: I think, Sir, your voice is echoing a bit. Can you just check on? Page 2 of 15 Stylam Industries Limited July 24, 2026 Dhruv Bajaj: Just a moment. Is it better now? Jagdish Gupta: Yes. Dhruv Bajaj: I was just trying to understand, like did we receive some sort of inventory gain benefit in this particular quarter, given the volatility in the wooden prices? Jagdish Gupta No, no inventory gain. nothing. It is our efficiency and it is our more utilization and if you go for sales figures it is increased. So, when sales increase, the expenses automatically reduce. Dhruv Bajaj: Perfect. And sir, in one of the previous calls, you did mention that they are operating near full utilization and the customers are waiting for a new capex to come live. And since you've already guided that new capex -- sir, I had a couple of questions on that front. Firstly, how will the ramp up look like? Like do we have some sort of POs beforehand, which we can scale up gradually once the capex comes like? Or will it be on a month-on-month basis, the customer will assess the demand and then give us orders? And second one sir… Manit Gupta: It will be on a month-on-month basis only. So, there is no POs in our industry that we get a PO for entire year. Plus, what we are looking at for the first year, maybe 20% to 30% plus capacity utilization for the new plant. Dhruv Bajaj: Sorry, sir, if I heard that correctly, you said 50% plus capacity utilization, right? Manit Gupta: I think we want to be conservative on the call, so that's why I gave a figure of 30% plus on the capacity utilization for the first year. Dhruv Bajaj: Fair, sir. And sir, my second question was that we mentioned in one of the previous calls that we will announce a major capex once Aica's stake sale or the stake control was over. And in the previous quarter we mentioned that we will mention about the same in this current quarter. So, any updates on that front considering brokerages are coming out with reports that, yes. Manit Gupta: No, it's not yet. To be honest, we are actually evaluating the other options side-by-side. We had to, but I think we might delay it for until next quarter because our first focus is just to start this plant, which is more important rather than running around and getting more capex done. So that is why, once plant is operated by end August, early September, definitely we will announce about our new capex. Dhruv Bajaj: Fair enough, sir. But just to understand directionally speaking, are we focusing more on this laminate segment for the newer capex or we will expand in some other wood panel adjacency? Manit Gupta: In laminates there will be a saturation for every company. We do not actually want that. It would be product going along laminates. Dhruv Bajaj: Okay, because the remaining to be plywood, MDF, and particle boards. Page 3 of 15 Stylam Industries Limited July 24, 2026 Manit Gupta: Which would help us actually strengthen, which would help us strengthen the domestic market first. Dhruv Bajaj: Okay, fair enough. So, the newer capex will be focused more towards domestic market versus exports, right? Manit Gupta: Correct. Dhruv Bajaj: Perfect, sir. Okay, sir. Thank you so much. All the best. Moderator: Thank you. We take the next question from the line of Keshav Lahoti from HDFC Securities. [Showing first 8,000 characters — download PDF for full document]