Analysts/Institutional Investor Meet/Con. Call Updates

November 03, 2026 To, To, Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, Bandra Kurla Phiroze Jeejeebhoy Towers, Dalal Street, Complex Bandra (East), Mumbai – 400 051 Mumbai – 400 001 NSE Symbol: GKENERGY BSE Scrip Code: 544525 Dear Sir/Madam, Subject: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Transcript of Earnings Conference Call Pursuant to the provisions of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of the Earnings Conference Call held on Thursday, October 29, 2026, to discuss the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026. The same shall also be uploaded on the Company’s website at www.gkenergy.in. You are requested to take the same on record. Thanking you, By order of Board of Directors For GK ENERGY LIMITED (Formerly known as GK Energy Private Limited, GK Energy Marketers Private Limited) Shubham Suresh Jain Company Secretary & Compliance Officer Membership No. A76578 Place: Pune “GK Energy Limited Q2 and H1 FY27 Earnings Conference Call” October 29, 2026 MANAGEMENT: MR. GOPAL KABRA – CHAIRMAN, MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – GK ENERGY LIMITED MR. MEHUL SHAH – WHOLE-TIME DIRECTOR – CHIEF OPERATING OFFICER – GK ENERGY LIMITED MR. SUNIL MALU – CHIEF FINANCIAL OFFICER – GK ENERGY LIMITED Page 1 of 13 GK Energy Limited October 29, 2026 Moderator: Ladies and gentlemen, good day and welcome to the GK Energy Limited Q2 and H1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there’ll 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 and then zero on your touchtone phone. I now hand the conference over to Mr. Gopal Kabra, Thank you, and over to you, sir. Gopal Kabra: Thank you very much. I, Gopal Rajaram Kabra, Chairman, Managing Director, and CEO, welcome you all. Thank you and very good afternoon to everyone. Welcome to our earnings call for the 2nd quarter and half year ended 30th September 2026. Joining me on the call are Mr. Mehul Shah, Whole-Time Director, COO, and Mr. Sunil Malu, CFO. Our investor presentation is available on the stock exchange and our website. And now I hand over to Mr. Mehul to take you through the performance and business highlights. Over to you, Mehul. Mehul Shah: I am Mehul Shah, Whole-Time Director and COO. Thank you, Gopalji, and a very good afternoon to everyone. Before I go into the details, let me highlight three key takeaways from today’s call. First, growth. In H1 FY27, we delivered revenue of INR 907.8 crores, up 38.9%. That is already nearly 60% of the revenue we delivered in the whole of FY26. Second, a broader renewable energy platform. GK Energy was built on solar pumps. Today we are building across three segments: retail rooftop, residential, and commercial B2C. Our retail rooftop solar business is growing strongly, driven by rising acceptance among residential and commercial customers. We have also received an institutional order to install one lakh rooftop solar systems. Agriculture: In October 2026, we have received an additional institutional order for 14,000 off- grid DC Solar Photovoltaic Water Pumping Systems in Maharashtra. Utility: We entered the fast-growing Battery Energy Storage System, BESS segment with a first order for a 150 megawatt by 300 megawatt-hour utility-scale installation. We are no longer a single product Company. We are becoming a renewable energy platform across generation, storage, and delivery. Third collection: Since 30th September, we have received INR 377.5 crores from customers, which puts us in the stronger position going into the second half. Let me now deep dive into performance starting with the half year. For H1 FY27, revenue from operations grew 38.9% to INR 907.8 crores. EBITDA grew 21.6% to INR 160.5 crores at a margin of 17.7%. Profit after tax grew, 30.7% to INR 109 crores. Speaking of quarterly performance, the 2nd quarter is seasonally our weakest quarter because the monsoon slows field installation, especially for agriculture pumps. Our revenue from Q2 FY27 grew 12.3% year on year to INR 402.7 crores. At the same time, EBITDA stood at INR 74.4 crores with 18.5% EBITDA margins, and profit after tax rose 6.3% to INR 49.4 crores with Page 2 of 13 GK Energy Limited October 29, 2026 12.3% PAT margins. On working capital front, while inventory and payables continue to remain within the range, the trade receivables stood at INR 1,012.38 crores as at 30th September 2026 with 204 days of outstanding. However, it is important to note that we have received INR 377.5 crores in last 28 days, which brings down outstanding receivables considerably to about 128 days. Our business is execution, so let me give you the numbers from the field. In Q2, we installed 19,391 systems, up 41.8% year-on-year, and commissioned 84 megawatts, up 33.3%. For the half year, installation rose 77.6% to 43,509 systems, and capacity commissioned rose 70.8% to 193 megawatts. Our cumulative base now stands at over 1,84,000 systems and over 800 megawatts across India. Behind every one of these systems is our network, six states, more than 7,500 villages, and over 20,000 warehouses, more than 40 owned vehicles, 200 plus team leads, and 1,300 plus installations and commissioning partners. This is 18 years of groundwork and it is very hard to replicate. Let me now turn to where our growth will come from. India’s installed capacity reached 171 gigawatts at the end of September, with 20.8 gigawatts added in the first half alone. Within this, we see three engines from GK Energy as of today. Solar pumps, our foundation. Fewer than 30% of India’s farmers have access to irrigation, and less than 2% of the pumps run on solar. 78 million farmers still have no pumping solution at all. The demand for solar pumps remains strong with product proof of concept well established. In October 2026, we received an additional institutional order for 14,000 off-grid Solar Photovoltaic Water Pumping Systems in Maharashtra. Rooftop solar is our next growth drive. India’s grid-connected rooftop capacity has reached 33.4 gigawatts. Rooftop additions grew 69% in FY26 to 8.7 gigawatts. Our retail rooftop business across residential and commercial B2C customers is growing strongly, driven by rising acceptance among residential and commercial customers. In addition, we have received an institutional order to install one lakh rooftop solar systems. Rooftop fits our model well. It uses the same field network and the same supply chain, and it diversifies our revenue. Energy storage is our entry into the next big opportunity. CEA projection cited by MNRE shows India’s battery storage requirement rising from about 35 gigawatt-hour in FY27 to around 236 gigawatt-hour by FY32. We have entered this fast-growing segment with a strong order for a 150 megawatt by 300 megawatt-hour utility-scale installation, and we intend to expand to 2 gigawatts in midterm. Across this business, our order book stands at INR 788 crores comprising order as on 30th September 2026, and order received from 1st October 2026 onwards. Important to highlight that during the financial year, we have received cumulative orders worth INR 1,422.29 crores Page 3 of 13 GK Energy Limited October 29, 2026 including GST but excluding the BESS order. Together, this gives us clear visibility for execution over the coming quarters. All of this runs on what we believe is our biggest advantage. Our technology-defined, low-capex, controlled manufacturing ecosystem. We design the products and set the specifications. We control critical sourcing, and we grow with multiple par [Showing first 8,000 characters — download PDF for full document]