Analysts/Institutional Investor Meet/Con. Call Updates

November 05, 2026 National Stock Exchange of India Limited BSE Limited "Exchange Plaza" Phiroze Jeejeebhoy Towers Bandra-Kurla Complex, Bandra (East) Dalal Street Mumbai - 400051 Mumbai - 400001 Scrip Symbol: IRMENERGY Scrip Code: 544004 Sub: Transcript of Earnings Conference Call for the quarter and half year ended September 30, 2026 Dear Sir/Madam, In continuation to our previous intimations dated October 27, 2026 and November 02, 2026 and pursuant to Regulation 30 read with Schedule III of the 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 Monday, November 02, 2026 at 10:00 a.m. (IST) in respect of unaudited financial results and performance of the Company for the quarter and half year ended September 30, 2026 The same will also be made available on the Company's website at www.irmenergy.com. This is for your information and records. Thanking you. Yours sincerely, For, IRM Energy Limited Akshit Soni Company Secretary & Compliance Officer IRM Energy Limited Q2 FY27 Earnings Conference Call November 02, 2026 Mr. Amitabha Banerjee Executive Director Mr. M. K. Sharma Chief Executive Officer Mr. Brajesh Singh Chief Operating Officer Mr. Ashish Maheshwari Chief Financial Officer Mr. Abhinand Pandya Chief Strategy Officer and IR Head Mr. Arunkumar Saluru Vice President (Finance & Accounts) IRM Energy Limited Q2 FY27 Earnings Conference Call Moderator Good morning, ladies and gentlemen. I`m Akash, moderator for the conference call. Welcome to IRM Energy Limited Q2 FY27 earnings conference call. As a reminder, all participants will be in 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 * and then 0 on your touch-tone telephone. Please note this conference is being recorded. I would now like to hand over the floor to Ms. Krishna Patel from EY. Thank you, and over to you, ma'am. Krishna Patel Thank you, Akash, and good morning, everyone. A warm welcome to all participants joining the Q2 FY27 earnings conference call of IRM Energy Limited. Joining with us today from the management team are Mr. Amitabh Banerjee, the Executive Director; Mr. M. K. Sharma, the Chief Executive Officer; Mr. Brajesh Singh, the Chief Operating Officer; Mr. Ashish Maheshwari, Director CFO; Mr. Abhinand Pandya, the Chief Corporate Strategy and IR Head; and Mr. Arun Kumar Saluru, who will discuss the company's operational and financial performance for the quarter 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 subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Please also note that the audio recording and the transcript of this call are the property of IRM Energy Limited may not be copied, reproduced, rebroadcasted, redistributed in any form without the company's prior written consent. With this, I would like to hand over the call to the CEO for his opening remarks. Thank you, and over to you, sir. M. K. Sharma Yeah. Thank you very much, Krishna, for the introduction. Good morning, everyone. On behalf of IRM Energy Limited, I welcome you all to our earnings conference call to discuss the company's performance for the second quarter and half year ended September 30th, 2026. Our board meeting was held on 30th October. I hope you have had an opportunity to review the financial results, investor presentation, and other disclosures submitted to the stock exchanges. Dear investors, during H1FY27, the company delivered healthy volume growth, a substantial improvement in profitability, continued expansion of infrastructure, and further strengthening of the balance sheet. The improved sales mix rather, disciplined gas sourcing and operating leverage from our expanding network support have granted us a strong YoY improvement in the earnings. IRM Energy Limited Q2 FY27 Earnings Conference Call For H1FY27, revenue from operations has increased by 26% YoY to INR 660 crore. EBITDA increased by 108% to INR 109 crore, while profit after tax increased by 124% to INR 59 crore. This is one of the best H1 we have had in our history. The EBITDA margin expanded by 646 basis points to 16.5%, while the PAT margin also improved by 391 basis points to 9%. Our network expansion, continued during H1 FY27, with the CNG stations increasing 34% YoY to 156, and dispensing points increased by 36% to 576. CNG network has grown 6-year CAGR of 28%. The MDPE pipeline network increased by 20% to 7,313 kilometers. The steel pipeline network also increased by 17% to 3,441 Inch kilometer. The domestic, commercial, and industrial PNG connections also grew by 14%, 48%, and 8% respectively, strengthening our platform for future growth. I'm happy to share that in H1FY27, Banaskantha GA accounted for approximately 47% of our total volume, Fatehgarh Sahib, 33%, and Diu & Gir Somnath, 9%, where the Namakkal & Trichy, 11%. This contribution from Namakkal & Trichy has increased from approximately 6% from the total volume in FY26 to 11% now in this H1 FY27. This reflects the progressive monetization of the network which we are building there. During the quarter, we entered into an MoU with Tamil Nadu State Transport Corporation. For captive CNG dispensing facility in NT, we have created recurring supplies to them and also created a recurring institutional demand base there in NT. We facilitated the conversion of 83 TNSTC buses to CNG, taking the CNG fleet to 183 buses in Namakkal and 55 buses in Tiruchirappalli. We have also strengthened the gas sourcing and connectivity arrangements through a strategic hookup with IOC in NT and GTN in Diu & Gir Somnath. These agreements have been made, and connectivity work has already started now. These arrangements are intended to improve supply reliability and support the long-term development of the respective geographical areas in the national grid. During Q2 FY27, total sales volume reached all-time high to 61.23 MMSCM, up by 12% YoY, while the H1 FY27 volume grew by 10% to 120.16 MMSCM. Growth was primarily driven by CNG and commercial PNG, which grew 23% and 61% respectively, during H1FY27. CNG now accounts for approximately 66% of our total overall value, strengthening our sales mix. While industrial PNG volumes remained impacted by relative fuel economics, we saw sequential recovery during Q2 and remain focused on improving our competitiveness through optimizing gas sourcing and industrial customer engagement because the alternate fuel is also a challenge for us there. On gas sourcing front, our position remained stable throughout Q2 FY27 with spot gas accounting for only around 0.5% of our total requirement. This speaks volumes about our strategic gas sourcing. However, the revised HPHT allocation methodology by the Government of India introduced in September resulted in a temporary reduction in gas availability towards the beginning of Q3. This has affected our volume for approximately a fortnight. IRM Energy Limited Q2 FY27 Earnings Conference Call We responded by further diversifying our sourcing portfolio, including a long-term agreement with GAIL and asking calibrated pricing action to manage higher gas costs. Some Brent-link and HPHT, we have had the mix with them, and this will be able to make up our gas requirement to a great extent. Importantly, the government subsequently introduced a phased implementation of the revised HPHT methodology in October, rectifying the September circular and providing CGD company additional time to realign their sourcing strategies. While the temporary disruption in the gas allocation, the higher g [Showing first 8,000 characters — download PDF for full document]