Please find attached letter dated 05.11.2026

B♦�e £,=;,r ger /fl'Qlnt >'Our ,mag,notton STOCEKX.G A/G 2/0 26-27 5thN ovem2b0e2r6, ThCeo rpoRrealtaet ioTnhsLehi isptD ienpga rtmeLnits tDienpga rtment Department NatiSotnoaEclxk c haonfg Teh Cea lcSuttotcak BSEL imited, IndLiiam ited ExchaLntgde. 1stF loor, ExchaPnlga5ezth Fa l,o or7,L yoRnasn ge, PhirJoezeej eTeobwheoryPs l,No ot. -'CG/B'1l ,o ck,K olkata-700001 DalSatlr eet, BandKruarC-loam plex, Mumb-a4i0 0001 Band(rEa) Mumb-a4i0 0051 ScrCiopd: 5e 0 9480 ScrCiopdB eE:R GEPAISNcTrC iopd 1e2:5 29 DeSairr s, Sub:I nvesPtroers enotnaF tiinoannR ceisaull ts Witrhe ferteoon ulcree t ntoSe.Tr O CEKX.G A/G /2 026d-a2t73e t0dhO cto2b0e2ra6,n d purstuoRa engtu l3a0to ifto hSneE B(IL isOtbilnigg aatnDidio sncsl Roesquurier ements) Regula2t0i1po5ln esfa,is enend oc sleacd o poyft hien vepsrteosre notnfa itniaornnec siuallt s oft hCeo mpafnoqyru aratnhedar yl efea nrd oend3 t0 hS epte2m0b2et6rob , em addeu ring thdea y. Thea forepsraeisde nwtialatlli sbooenu ploaodnte hdwe e bsoiftt heCe o mpain.ye htt/pwsw:w/. benzernpvaeisnttolsro.s.ac/ dod mo/win Youfrasi thfully, FoBrE RGEPRA INTISN DILAI MITED Encal/.a: BERGEPRA INITNSD LIIAM ITED Registered Office: Berger House, 129P,ark S treet, Kolkata. 7000 1Phone7:, 2229 9n4-222298600 ,5--06 , Fa:9x 1-339-009/92274299www , bergerpaints.com Co,pora1e Office: CF-4,AdicnArea -1PCrenises, No0.2,- 0N1ewT7 own3,,Ra jarhal K.olkatEaa Wesstt,B eng·a7 l00156I,nd ia CINLS.1 434\tW1923PLEC-m004acons7illlTl9:elf3 eed,badt @bergerindia.com Earnings Update Q2 & H1 FY27 Quarter and half-year ended 30 September 2026 Berger Paints India Limited 5 November 2026 Q2 PERFORMANCE HIGHLIGHTS Consistent double-digit top-line growth for the quarter ■ Growth: Revenue growth 11.9% Standalone and +13.2% Consolidated; H1 growth of +12.3% and +12.5%, respectively. ■ PBDIT (consolidated) growth 5.2% backed by strong performances by subsidiaries ■ Decorative Business: Near double digit value growth, driven by price growth ~8%; ■ Industrial Business: Robust volume and value growth across business lines gross margin was lower on YoY basis ■ Margins: Gross margins impacted by double-digit RM inflation, liquidation of high-cost inventory and delayed price increases in the Industrial segment, with pressure further intensifying during the quarter. ■ PBDIT margin compression remained relatively contained, with additional investment of ~₹22 crore in the Rang Bana Rahe campaign impacting quarterly margins; excluding this, PBDIT growth would have been ~3%. ■ Cash Position: Company continues to remain cash-positive on a consolidated basis Q2 FY27 PERFORMANCE AT A GLANCE · STANDALONE Q2 Performance Summary – YoY Growth Q2 FY27 H1 FY27 +12.3% +11.9% +6.1% +5.6% 3.0% –4.4% Volume Value PBDIT FINANCIAL RESULTS · STANDALONE Standalone results: Q2 FY27 Q2 FY27 % Q2 FY26 % Growth % Total income from operations 2750.06 2458.47 11.9 Material Cost 1742.36 63.4 1486.06 60.4 Employee Cost 183.29 6.7 182.55 7.4 Other expenses 526.87 19.2 478.67 19.5 PBDIT (Excluding Other Income) 297.54 10.8 311.19 12.7 -4.4 Depreciation 96.79 3.5 85.92 3.5 Profit from operation before interest 200.75 7.3 225.27 9.2 -10.9 Other Income 31.13 1.1 23.47 1.0 PBIT 231.88 8.4 248.74 10.1 -6.8 Finance Cost 13.70 0.5 13.81 0.6 PBT 218.18 7.9 234.93 9.6 -7.1 Taxes 54.87 58.68 PAT 163.31 5.9 176.25 7.2 -7.3 FINANCIAL RESULTS · STANDALONE Standalone results: H1 FY27 H1 FY27 % H1 FY26 % Growth % Total income from operations 5976.74 5321.09 12.3 Material Cost 3701.65 61.9 3201.60 60.2 Employee Cost 363.59 6.1 342.59 6.4 Other expenses 1051.74 17.6 966.22 18.2 PBDIT (Excluding Other Income) 859.76 14.4 810.68 15.2 6.1 Depreciation 187.90 3.1 168.98 3.2 Profit from operation before interest 671.86 11.2 641.70 12.1 4.7 Other Income 70.27 1.2 51.00 1.0 PBIT 742.13 12.4 692.70 13.0 7.1 Finance Cost 23.66 0.4 25.17 0.5 PBT before exceptional item 718.47 12.0 667.53 12.5 7.6 Exceptional item 0.00 (36.81) PBT 718.47 12.0 630.72 11.9 13.9 Taxes 186.48 160.71 PAT 531.99 8.9 470.01 8.8 13.2 DECORATIVE BUSINESS · Q2 FY27 Decorative Performance ■ 10% Value growth driven by price increases, Eastern markets impacted due to extended rain ■ Volume growth moderated as later Diwali shifted festive demand to Q3, alongside a conscious mix improvement, with price-sensitive categories such as Putty, Textures and Enamel de-grew. ■ Differentiated products outperformed ■ (HS) segment continued to outperform, with RKNS and DampShield emerging as key growth drivers ■ Wood Coatings registered strong double-digit value growth ■ Strategic investments in A&P to support the new RangBanaRahe campaign, strengthening brand visibility and consumer engagement during the quarter DISTRIBUTION AND CAPABILITY Strengthening reach Stores Retail store network (2,000++) as on H1 FY27 Tinting machines 4800++ as on H1FY 2027 (2700++ during Q2) DISTRIBUTION AND CAPABILITY · RETAIL EXPERIENCE INDUSTRIAL BUSINESS · Q2 FY27 Industrial Performance ■ Delivered robust high double-digit volume and value growth despite steep price increases. However, margins remained under pressure as price hikes could not be fully passed on in a timely manner ■ Value growth across segments further aided by pricing, partially offsetting RM inflation impact ■ Automotive Coatings outperformed, supported by buoyant demand in the two- wheeler segment ■ Protective Coatings volumes remained stable ■ General Industrial (GI) segment registered double digit volume within the category FY27 · MARGIN SNAPSHOT Standalone Consolidated Q2 FY27 H1 FY27 Q2 FY27 H1 FY27 40.1 39.3 38.1 36.6 14.4 14.4 11.6 10.8 Gross margin % PBDIT margin % Gross margin % PBDIT margin % Berger Paints India Limited | Q2 FY27 Earnings Update 10 BRAND AND INNOVATION · BRAND CAMPAIGN Rang Bana Rahe: our new brand campaign LAUNCHED IN Q2 FY27 Deewaron ka bhi. Zindagi ka bhi. Colour for walls, and for life ■ New brand platform built on the joy of colour, in homes and in everyday life ■ Story-led creative ■ Backed by stepped-up A&P to build brand visibility and consumer engagement BRAND AND INNOVATION · BRAND CAMPAIGN Rang Bana Rahe: colour in every moment of life Beyond surfaces Today and tomorrow Walls and smiles Stay colourful Into everyday lives For every generation Colour that brings joy In every situation FINANCIAL RESULTS · CONSOLIDATED Consolidated results: Q2 FY27 Q2 FY27 % Q2 FY26 % Growth % Total income from operations 3,200.37 2,827.49 13.2 Material Cost 1,942.32 60.7 1,652.40 58.4 Employee Cost 251.55 7.9 245.44 8.7 Other expenses 635.83 19.9 577.40 20.4 PBDIT (Excluding Other Income) 370.67 11.6 352.25 12.5 5.2 Depreciation 108.58 3.4 97.05 3.4 Profit from operation before interest 262.09 8.2 255.20 9.0 2.7 Other Income 31.72 1.0 26.00 0.9 PBIT 293.81 9.2 281.20 9.9 4.5 Finance Cost 16.54 0.5 17.39 0.6 PBT before share of joint ventures and tax 277.27 8.7 263.81 9.3 5.1 Share of profit of joint ventures, net of tax 8.05 10.80 Profit before tax 285.32 8.9 274.61 9.7 3.9 Taxes 68.22 68.23 PAT 217.10 6.8 206.38 7.3 5.2 FINANCIAL RESULTS · CONSOLIDATED Consolidated results: H1 FY27 H1 FY27 % H1 FY26 % Growth % Total income from operations 6,784.12 6,028.25 12.5 Material Cost 4,060.87 59.9 3,527.23 58.5 Employee Cost 496.63 7.3 462.80 7.7 Other expenses 1,248.51 18.4 1,157.56 19.2 PBDIT (Excluding Other Income) 978.11 14.4 880.66 14.6 11.1 Depreciation 211.64 3.1 191.03 3.2 Profit from operation before interest 766.47 11.3 689.63 11.4 11.1 Other Income 70.62 1.0 54.46 0.9 PBIT 837.09 12.3 744.09 12.3 12.5 Finance Cost 29.00 0.4 31.87 0.5 PBT before share of joint ventures and tax 808.09 11.9 712.22 11.8 13.5 Share of profit of joint ventures, net of tax 19.82 21.97 Profit before exceptional items and tax 827.91 12.2 734.19 12.2 12.8 Exceptional items 0.00 (36.81) Profit before tax 827.91 12.2 697.38 11.6 18.7 Taxes 205.80 175.96 PAT 622.11 9.2 521.42 8.6 19.3 SUBSIDIARIES AND JOINT VENTURES · Q2 FY27 Consolidated Results: Performance Highlights ■ Bolix S.A. had strong growth in revenue an [Showing first 8,000 characters — download PDF for full document]