Transcript of the Concall held on October 29, 2026

Ref: GARL/SEC/26‐27/45 Date: November 4, 2026 To, To, BSE Limited National Stock Exchange of India Limited Department of Corporate Services Listing Department, Phiroze Jeejeebhoy Towers, Exchange Plaza, C‐1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai–400 001 Bandra (E), Mumbai ‐ 400 051 Scrip Code: 539725 Symbol: GOKULAGRO Sub: Transcript of Q2FY27 Earnings Conference Call Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and with reference to our intimation vide letter ref no.: GARL/SEC/26‐27/39 dated October 26, 2026, please find below link of transcript of the Earnings Conference Call held on October 29, 2026 to discuss Unaudited Standalone & Consolidated Financial Results for the quarter / half year ended September 30, 2026 (Q2FY27). We request you to kindly take the above information on your record. Thanking You, For, Gokul Agro Resources Limited Jaimish Govindbhai Patel Company Secretary and Compliance Officer Membership no.: A42244 “Gokul Agro Resources Limited Q2 and H1 FY27 Earnings Conference Call” October 29, 2026 MANAGEMENT: MRS. DHARA CHHAPIA – CHIEF FINANCIAL OFFICER MODERATOR: MS. KRISHNA PATEL – EY Page 1 of 12 Gokul Agro Resources Limited October 29, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Gokul Agro Resources Limited Q2 and H1 FY27 Earnings Conference Call. 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 this 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. Krishna Patel from EY. Thank you, and over to you, ma'am. Krishna Patel: Thank you, Iqra, and good afternoon, everyone. A warm welcome to all participants joining the Q2 FY '27 and H1 FY27 earnings conference call of Gokul Agro Resources. Joining us today is Mrs. Dhara Chhapia, the Chief Financial Officer, who will discuss the company's operation and financial performance for the quarter and half year and address your questions thereafter. Before we begin, I would like to remind you that certain statements made during this call may constitute forward-looking statements. These statements are based on management's current expectations and are subject to risks, uncertainties that could cause actual results to differ materially from those expressed or implied. With that, I would like to hand over the call to Mrs. Dhara Chhapia for her opening remarks. Thank you, and over to you, ma'am. Dhara Chhapia: Thank you, Krishna, and good afternoon, everyone. On behalf of Gokul Agro Resources Limited, I warmly welcome all of you to our earnings conference call to discuss the financial and operational performance for Q2FY27 and H1FY27. This is an important milestone for us. As this is our first earnings conference call, we are pleased to begin a more structured and regular engagement with the investor and analyst community. Since this is our first earnings call, before discussing our quarterly performance, I would like to spend some time introducing the company. Our journey: from an edible oil processor to an integrated agri-processing platform. The roots of our business go back over four decades in the edible oil industry. Gokul Agro Resources Limited became an independent company following the demerger of the edible oil business from Gokul Refoils & Solvent Limited and was subsequently listed on the NSE and BSE. Since then, our journey has been one of consistent expansion across capacities, geographies, products, and customer segments. Over the years, we have progressively expanded our refining capacity, developed seed-crushing capabilities, entered castor derivatives and specialty fats, created large liquid storage infrastructure, and built an increasingly diversified processing platform. Between FY22 and FY24, we expanded our geographic footprint by establishing a refinery near Krishnapatnam Port in Andhra Pradesh and acquiring the Haldia refinery in West Bengal. In FY25, we acquired our Mangalore refinery, giving us a manufacturing presence on India's southwestern coast. We also initiated our oil palm plantation program under the National Page 2 of 12 Gokul Agro Resources Limited October 29, 2026 Mission on Edible Oils - Oil Palm. In FY26, we entered biodiesel with a 300-ton-per-day facility at Gandhidham and increased our focus on building our branded consumer business. Today, we have evolved from a regional edible oil processor into a pan-India integrated agri- processing platform with four strategically located manufacturing facilities at Gandhidham, Krishnapatnam, Haldia, and Mangalore, a diversified product basket, a nationwide distribution network, and an international presence across multiple markets. To put the scale of this transformation into perspective, revenue from operations increased from approximately INR8,387 crores in FY21 to INR24,077 crores in FY26, representing a five-year CAGR of 23%. Over the same period, EBITDA including other income increased from approximately INR157 crores to INR716 crores, representing a five-year CAGR of 35%, while PAT increased from INR45 crores to INR387 crores, representing a five-year CAGR of 54%. Business model: At its core, our business is built around three fundamental strengths: first, sourcing; second, manufacturing and processing scale; and third, market access. Our integrated value chain spans sourcing, seed-crushing, refining, storage, value-added processing, packaging, branded products, domestic distribution, and exports. This integration is important because edible oils and agri-commodities operate in a dynamic environment, influenced by global commodity prices, crop availability, currency movements, freight rates, government policy, and import duties. Our sourcing capabilities, port-linked infrastructure, large storage capacities, and diversified product portfolio allow us to respond to these market dynamics and allocate our resources across products and markets. Today, our business broadly comprises edible oils, castor oil and derivatives, specialty fats, biodiesel, and various agri-processing by-products. Edible oils, the core engine of scale: Edible oil remains, by far, our largest business. Our portfolio spans palm oil, soybean oil, sunflower oil, mustard oil, groundnut oil, cottonseed oil, rice bran oil, palmolein, and vanaspati, among others. During H1FY27, edible oils accounted for approximately 85% of consolidated volume. Importantly, we are not dependent on one edible oil category. Within our operating portfolio, palm and soybean oils are the largest categories, complemented by sunflower and several other edible oils. This provides flexibility in both sourcing and sales depending upon relative commodity economics and consumer demand. Our objective in edible oils is not simply to chase throughput. We want to use scale, sourcing efficiency, our pan-India manufacturing network, stronger institutional relationships, and an increasing presence in the branded consumer segment to progressively improve the quality of our business. One of the major strengths of Gokul Agro is our multi-location manufacturing platform. Our Gandhidham plant is our largest and most diversified location with approximately 3,400 tons per day of refining capacity, 3,200 tons per day of seed-crushing capacity, 300 tons per day of biodiesel plant, and substantial storage infrastructure and value-added product capabilities. Page 3 of 12 Gokul Agro Resources Limited October 29, 2026 Krishnapatnam provides approximately 1,400 tons per day of refining capacity, while Haldia provides approximately 1,350 tons per day. We also have our Mangalore facility on India's west coast. The significance of these locations is strategic. They provide us access to multiple ports, multipl [Showing first 8,000 characters — download PDF for full document]