Analysts/Institutional Investor Meet/Con. Call Updates

DNL/140/NSE/1697/2026 November 4, 2026 Listing Department National Stock Exchange of India Limited Exchange Plaza Bandra Kurla Complex Bandra (E) MUMBAI – 400 051 Dear Sir, Stock Symbol: DEEPAKNTR Sub: Submission of earnings conference call Transcript We enclose herewith the transcript of the earnings conference call of the Q2 & H1 FY 2027 held on October 30, 2026 and the same is also available on the website of the Company at the weblink https://www.godeepak.com/financial-result/. Please take the same on your record. Thanking you. Yours faithfully, For DEEPAK NITRITE LIMITED ARVIND BAJPAI Company Secretary Encl.: as above Deepak Nitrite Limited Q2 & H1 FY27 Earnings Conference Call October 30, 2026 MANAGEMENT: MR. MAULIK MEHTA – DEPUTY MANAGING DIRECTOR MR. SANJAY UPADHYAY – DIRECTOR (FINANCE) AND & GROUP CFO MR. SOMSEKHAR NANDA – CFO – DEEPAK NITRITE LIMITED MODERATOR: MR. RANJIT CIRUMALLA – IIFL CAPITAL Page 1 of 20 Deepak Nitrite Limited October 30, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Deepak Nitrite Q2 & H1 FY27 Earnings Conference Call hosted by IIFL Capital Services 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. At the outset, I would like to clarify that certain statements made or discussed on the conference call today may be forward-looking in nature, and a disclaimer to this effect has been included in the investor communication shared with you earlier. I now hand the conference over to Mr. Ranjit Cirumalla from IIFL Capital Services Limited. Thank you, and over to you. Ranjit Cirumalla: Thank you. Good afternoon everyone, and thank you for joining us on Deepak Nitrite's Q2 & H1 FY27 Earnings Conference Call. Today, we have with us Mr. Maulik Mehta, Deputy Managing Director; Mr. Sanjay Upadhyay, Director Finance and & Group CFO; and Mr. Somsekhar Nanda, CFO of Deepak Nitrite Limited. We will begin the call with opening remarks from the management team, followed by an interactive Q&A session. To begin, Mr. Maulik Mehta will share views on the operating performance and growth plans of the Company, followed by Mr. Sanjay Upadhyay, who shall take us through the financial and segmental performance. The results documents have been shared with you earlier and has been posted on the Company's website. I now invite Mr. Mehta to share his opening comments. Thank you, and over to you, sir. Maulik Mehta: Thank you. Good afternoon everybody, and a warm welcome to Deepak Nitrite's Q2 & H1 FY27 Earnings Conference Call. Thank you for your continued interest in the Company. Our investor presentation and financial results have already been shared, and I trust you had an opportunity to review them. I will begin by sharing our perspective on the operating environment, business performance and strategic developments, following which Mr. Upadhyay will take you through the financial results in greater detail. At the outset, I am delighted to announce that we have achieved the Best Ever Performance in Deepak Nitrite's operating history of over 5 decades, delivering record Revenue and EBITDA on both a quarterly as well as a half yearly basis. Consolidated revenue from operations for Q2 FY27 stood at INR 3,091 crore, registering a sequential growth of 19% and year-on-year growth of 61%. What makes this achievement particularly noteworthy is the challenging environment in which it has been accomplished. I would like to congratulate our entire team for its commitment, agility and outstanding execution. The global chemical industry continues to navigate significant volatility arising from geopolitical developments, disruptions to international trade, elevated freight and energy costs as well as uneven demand across end-use applications. These developments are also influencing sourcing preferences, with customers increasingly valuing assured delivery, consistent quality as well as reliability of supply. Page 2 of 20 Deepak Nitrite Limited October 30, 2026 For Deepak, this environment has presented opportunities as well as challenges. Our extensive domestic manufacturing footprint, integrated operations and ability to respond swiftly to evolving market conditions have enabled us to capitalize on such opportunities while mitigating disruptions across our businesses. On Phenolics, this was our principal driver for the quarter's performance, achieving its highest ever topline and profitability. Disruptions to international supply chains, higher landed cost of imports and firm domestic demand created a favorable market environment. Importantly, our teams were able to capitalize on these conditions through proactive procurement of critical feedstocks, maintaining consistently high operating rates and ensuring dependable supplies to customers. Despite challenges in securing our basket of inputs, we sustained high throughputs across the Phenolics chain with several assets operating at or above their rated capacity. This reflects the quality of our manufacturing infrastructure, operational expertise and the advantages of being a large-scale domestic producer. In Advanced Intermediates, Q2 was a result of buoyant domestic demand of Q1, which, despite proactive procurement strategies, we were unable to fully cater to. Consumers saw elevated ammonia prices and other raw material prices and imported proactively, which landed up in July. This led to lower utilization of some plants despite the moderation in raw material prices. While this impacted Q2, the current demand scenario as well as ongoing in the upcoming quarters shows the value of our emphasis on an integrated ammonia to amines and propylene to polycarbonate strategy. Our short and medium-term growth prospects remain encouraging. Growth will be supported by an improvement in the demand across various product categories, capacity-led expansion in select product lines and the gradual ramp-up of recently commissioned facility. We're also continuing to diversify our product portfolio, customer base as well as geographic presence. This approach is intended to reduce dependence on individual products or markets, improve our ability to serve customers and create a more resilient earnings base. A key priority for us continues to be the development of integrated manufacturing platforms that improve raw material security, enhance cost competitiveness and enable greater value addition. This is over and above best-in-class carbon footprints as well as an overall integrated cost platform. The stabilization of our ammonia to amines chain, together with the expansion of our nitration as well as hydrogenation capabilities represents an important milestone in this journey. These investments strengthen supply security and provide the infrastructure required to develop a far broader range of downstream products. During the quarter, we continued with the ramp-up of recently commissioned assets including the nitric acid facility, while progressing with the commercialization as well as scale up for manufacturing downstream products such as MIBK, MIBC as well as the derivatives. Page 3 of 20 Deepak Nitrite Limited October 30, 2026 Moreover, towards the end of the quarter, Deepak Chemtech also commissioned its chlorination, which is in addition to the photohalogenation assets as well as specialty chemicals plant in Dahej with capital investment of approximately INR 300 crore, including associated utilities and infra. The commissioning strengthens the Group's manufacturing footprint and expands the specialty chemicals portfolio, enabling Deepak Nitrite to cater to a wider range of customer requirements and capture emerging growth opportunities. As the plant ramps up operations, they are expected to drive incremental revenues, improve capability, utilization as well as generate operational efficiencies. This will also lead to margin improvement as well as strengthening of the overall Company' [Showing first 8,000 characters — download PDF for full document]