Transcript of earnings call held on October 29, 2026.

November 05, 2026 BSE Limited National Stock Exchange of India Limited Dept. DSC_CRD Exchange Plaza, Phiroze Jeejeebhoy Towers, Plot No. C/1 ‘G’ Block, Dalal Street Bandra- Kurla Complex,s Mumbai 400 001 Bandra ( ‘E’) BSE Scrip Code: 506222 Mumbai 400 051 NSE Symbol: STYRENIX Subject: Transcript of Earnings Call with Investors / Analysts held on October 29, 2026. Ref: Regulation 30 and 46(2)(oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir, In continuation to our letter dated October 26, 2026 informing about the earnings call organized by the Company on October 29, 2026, please find attached Investor Call Transcript for your record purposes. The transcript is also being uploaded on website of the Company and the same can be downloaded from following path: www.styrenix.com – Investors – Earnings Call – Call recordings & Transcripts You are requested to kindly take the above information on your records. Thanking you. Yours faithfully, For Styrenix Performance Materials Limited Chintan Doshi Senior Manager – Legal & Company Secretary Encl: As Above “Styrenix Performance Materials Limited Conference Call” October 29, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on October 29, 2026, will prevail. MANAGEMENT: MR. RAHUL R. AGRAWAL -- MANAGING DIRECTOR MR. BHUPESH P. PORWAL MR. CHINTAN DOSHI – SENIOR MANAGER, LEGAL & COMPANY SECRETARY Page 1 of 19 Styrenix Performance Materials Limited October 29, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Styrenix Performance Materials Limited Conference Call. We have with us today from the management of Styrenix Performance Materials Limited, Mr. Rahul Agrawal, Managing Director; Mr. Bhupesh P. Porwal, Chief Financial Officer; Mr. Chintan Doshi, Manager, Legal and Company Secretary and SGA team. 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. Further, on behalf of the management of the company, we would also like to remind the participants that this call is being conducted subject to and in line with the disclaimer mentioned in the investor presentation as is available on the stock exchanges. I now hand the conference over to Mr. Bhupesh P. Porwal. Thank you, and over to you, sir. Bhupesh P. Porwal: Thank you very much. Namaste, everyone, and a very warm welcome to our Q2 and H1 FY '27 earnings call. Thank you for taking the time to be here with us today. I hope you all have had a chance to go through the financial results and the investor presentation available on our website and stock exchanges. The global operating environment remained volatile during the quarter with geopolitical developments continue to drive fluctuation in crude oil prices and contribute to broader macroeconomic uncertainties. In this evolving landscape, our focus remained on navigating input cost volatility, maintaining operational efficiency and ensuring continuity of customer supply while staying responsible to changing market dynamics and underlying demand trends. Further, our Phase 1 of our expansion plan remains on track and is expected to come on stream during the current financial year. I will now take you through the financial and operational performance for the quarter before we open the floor for the questions. First, on the stand-alone financial highlights. Coming to quarterly financial highlights on a year- on-year basis. Total income for Q2 FY '27 stood at INR781 crores, a growth of 26.5%. EBITDA of Q2 FY '27 stood at INR84.5 crores, a growth of 3.3% and EBITDA margin stood at 10.8%. Profit after tax for Q2 FY '27 stood at INR51.2 crores, a growth of 0.8% and sales volume for quarter 2 FY '27 stood at 43.4 KT. For half yearly financial highlights, total income for H1 FY '27 stood at INR1,551 crores, a growth of 15.8%. EBITDA for H1 FY '27 stood at INR286 crores, a growth of 70% and EBITDA margin stood at 18.4%. Profit after tax for H1 FY '27 stood at INR188.5 crores, a growth of 78.4% and sales volume for H1 FY '27 stood at 82.4 KT. Now coming to consolidated financial highlights for the quarter. Total income of Q2 FY '27 stood at INR997 crores. EBITDA stood at INR75.6 crores and EBITDA margin stood at 7.6%. Page 2 of 19 Styrenix Performance Materials Limited October 29, 2026 Profit after tax for Q2 FY '27 stood at INR23 crores. Consolidated sales volume, which includes both India and Thailand for Q2 stands at 55.1 KT. On our half-yearly financial highlights, total income for H1 FY '27 stood at INR2,009.8 crores. EBITDA for H1 FY '27 stood at INR299.2 crores and EBITDA margin stood at 14.9%. Profit after tax for H1 FY stood at INR161.5 crores. Consolidated sales volume, which includes both India and Thailand for H1 FY '27 stood at 106 KT. With this, I conclude the financial highlights, and we may now proceed for question and answers. Moderator: Thank you very much. The first question comes from the line of Nirav Jimudia from Anvil Wealth. Nirav Jimudia: A few questions from my side. So sir, first is with respect to the newer capacity, which we are expecting by the end of this financial year. So obviously, there would be focus on improving volumes and the benefits of operating leverage accruing to. But just wanted to understand your thoughts like when we see the imports or map the imports coming to India, are there any grades or volumes which can be replaced through our capacities, which probably could be unique in terms of currently, we may not be producing, but those volumes may be coming to India and we could take the benefits of that? Rahul R. Agrawal: Any other questions? Do you want to ask all your questions so that I can answer all of them. Nirav Jimudia: Yes. Sir, second question is on the polystyrene side. So since we took over the management control of the company, we have seen the ramp-up of the volumes in the polystyrene side. But have we realized the full potential of the EBITDA improvements when we had taken over the management control. So I just wanted to understand it from the viewpoint of penetration into probably the application side of the customers probably when earlier the management was not having and now we have started getting penetration into. So just wanted to understand whether there is a scope of improvement in the EBITDA per kilo from the polystyrene side. And lastly, sir, in terms of whatever we have done for H1, do we believe that is there any scope for improvement in the volumes in H2 vis-a-vis H1 given the kind of current environment we are facing today? Rahul R. Agrawal: Thank you, Nirav, for your questions. So with regards to the newer capacities, which are going to come online in this financial year, say, towards the end of the financial year, there are certain -- so for most of the products which are imported into the country, we have the capabilities to produce them in India already. However, for specific grades or there are very few grades, one of them which stands out is the refrigeration liner ABS grade. And that is the grade which historically, none of the local players in India have had the capability to produce. With Thailand technology that we have acquired and also now the new capacity coming in India that we have, we would have the ability to cater to that volume as well. That Page 3 of 19 Styrenix Performance Materials Limited October 29, 2026 volume typically in India, so 3.5 lakh tons to 4 lakh tons is the market in India and the imports are roughly half, you would have almost 30,000 to 40,000 tons of refrigeration liner ABS coming into the country. So yes, to a good extent, we would now have the capability to cater to that market. For [Showing first 8,000 characters — download PDF for full document]