Analysts/Institutional Investor Meet/Con. Call Updates

November 03, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers “Exchange Plaza”, Plot No. C-1, Block G Dalal Street Bandra – Kurla Complex, Bandra (East) Mumbai-400001 Mumbai – 400 051 Scrip Code: 535754 S y m bol: ORIENTCEM Sub.: Transcript of Earning Call pertaining to the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026. Dear Sir / Madam, In continuation of our letters dated October 08, 2026 regarding Analyst/Institutional call scheduled on October 29, 2026, please note that the transcript of the earnings conference call on the Unaudited Financial Results for the quarter and half year ended September 30, 2026, is uploaded on the website of the Company www.orientcement.com. The said transcript is also attached herewith. The Web link to access above transcript is as under- Transcript of Investor Call Kindly take the above on your record. Thanking You Yours Faithfully For Orient Cement Limited Pranjali Dubey Company Secretary and Compliance Officer Membership No. A52179 Encl: As above Orient Cement Limited Regist ered Office Adan i Corporate House Shantigram, Near Vaishno Devi Circle, S.G. Highway, Khodiyar, Ahmedabad – 382421, Gujarat, India Ph. +91 79-2656 5555 investors@orientcement.com www.orientcement.com CIN: L26940GJ2011PLC171878 “Ambuja Cements Limited Q2 FY27 Earnings Conference Call” October 29, 2026 MANAGEMENT: MR. VINOD BAHETY – CHIEF EXECUTIVE OFFICER – AMBUJA CEMENTS LIMITED (ADANI) MR. ROHIT SONI – CHIEF FINANCIAL OFFICER – AMBUJA CEMENTS LIMITED (ADANI) MR. DEEPAK BALWANI – HEAD INVESTOR RELATIONS – AMBUJA CEMENTS LIMITED (ADANI) MODERATOR: MR. SANJEEV KUMAR SINGH -- MOTILAL OSWAL FINANCIAL SERVICES LIMITED Page 1 of 22 Ambuja Cements Limited October 29, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Ambuja Cements Limited Q2 FY27 Earnings Conference Call hosted by Motilal Oswal Financial Services. 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 Mr. Sanjeev Kumar Singh from Motilal Oswal Financial Services Limited. Thank you, and over to you, sir. Sanjeev Kumar Singh: Thank you. Good afternoon, everyone, and thank you for joining this call. Without much delay, I will hand over the call to Mr. Deepak Balwani, Head of Investor Relations. Over to you, sir. Deepak Balwani: Yes. Thank you, Sanjeev. On behalf of Ambuja Cements, it is my pleasure to welcome you all to our earnings call for quarter 2 FY27. Ambuja Cements is the ninth largest cement company globally and a key part of diversified Adani portfolio, the country's fastest-growing portfolio of sustainable businesses. Before we begin, I would like to remind everyone that today's discussion may include certain forward-looking statements based on our current expectations and assumptions. These statements are subject to various risks and uncertainties, and actual outcomes may differ materially. At Ambuja, we remain committed to enhancing our transparency, strengthening our disclosure standards and continuously raising the standards of our capital market communication in line with the global best practices. We are pleased to have with us today Mr. Vinod Bahety, Chief Executive Officer; and Mr. Rohit Soni, Chief Financial Officer. With that, I would now like to invite Mr. Vinod Bahety to share his perspective on the quarterly performance, key business developments and our strategic priorities going forward. Vinod Bahety: Thank you, Deepak. Good evening, all. Ambuja Cements delivered a resilient second quarter performance for FY27, reflecting its focus on quality growth despite the headwinds of elevated fuel and logistics costs. Value focus has augured well as trade volume has grown 8.6% Y-on-Y and trade share percentage has increased by 6% to 74%. Premium product is now at 37% of the overall trade sales compared to 35% last year. Share of blended cement has improved from 77% to 82%. At the same time, we are now advancing the next phase of our growth journey. I am happy to share we have 14 expansion projects to add approximately 30 million tons of cement and 10.3 million tons of clinker capacity. The expansion includes new grinding capacities of 15.2 million tons in the West cluster, 11.6 million tons in the East cluster and 2.9 million tons in the North cluster. In the West cluster, we are adding 2.9 million tons each at Mundra and Hazira in Gujarat and 2.9 million tons each at Raigad, Kalyan, Amravati, along with 1 million tons of the bulk cement terminal at Dahanu in Maharashtra. Page 2 of 22 Ambuja Cements Limited October 29, 2026 In the East cluster, we are adding capacities at Rangia and Hojai in Assam 2.9 million tons each, Godda in Jharkhand at 2.9 million tons and Muzaffarpur in Bihar at equally 2.9 million tons. In the North cluster, we are adding 2.9 MTPA to Dadri Line-2 in Uttar Pradesh. The program also includes new clinker capacities of 4 MTPA at Maratha in Maharashtra, 4 MTPA in Umrangso in Assam and 2.25 MTPA at Mundra, strengthening the upstream network required to support the expanded grinding footprint in the most profitable high EBITDA markets. Operating conditions remain challenging with the geopolitical conflicts, monsoon-related headwinds, higher energy costs, global uncertainty and the constraints in domestic coal availability. Against this backdrop, we remain focused on market discipline, improved product mix, sustainable profitability and increasing the share of profitable trade volumes. Plant shutdowns have been successfully completed for major plants. This will help to achieve volume growth ahead of the industry in H2 FY27, supported by accelerated trade volumes and calibrated institutional sales. Our strategy remains clear, creating sustainable value ahead of the volumes. As we move into second half of FY27, our focus is on strengthening profitability through structural cost improvements, disciplined capital allocation and calibrated expansion. We continue to execute against the key strategic priorities. We remain focused on improving revenue quality through a stronger trade and premium mix. Trade volumes increased by 8.6% Y-on-Y, while trade share rose by 6% to 74%. Premium products increased by 2% to 37% of trade sales, while share of blended cement improved from 77% to 82%. Price has sustained at INR255 per bag in otherwise a leaner monsoon quarter. Meanwhile, we have seen a good traction this month where we already have realized INR10 per bag. Better receivables and inventory management has helped to improve the business working capital cycle by 10 days, which is expected to sustain and help to further improve profitability in the coming quarters. Across regions, North led on EBITDA and total volume growth in terms of Y-on-Y with trade volumes increased 13% Y-on-Y. Central cluster delivered the second highest regional EBITDA alongside 9% growth in the trade volumes. West recorded 14% trade volume growth and most resilient overall EBITDA performance across the regions. East maintained trade volumes broadly in line with last year. South grew trade volumes by 13% Y-on-Y and delivered a strong sequential volume recovery. Our ready-mix concrete business achieved quarterly volume of 1.07 million cubic meters, up 19% Y-on-Y with current network of almost 125 plants. We expect the pace of growth in the ready-mix concrete business to accelerate in the coming quarters. We also strengthened our market presence through differentiated brand initiatives. The Adani Ambuja Kawach, the Adani ACC Gold Water Shield Cement monsoon campaigns ran across more than 2,000 cinema screens and were supported by digital and outdoor media, reaching over Page [Showing first 8,000 characters — download PDF for full document]