Please attached herewith transcript of Investor call held on 03rd November 2026.

Pune E-Stock Broking Limited Member NSE BSE MCX 1198, Shukrawar Peth Subhashnagar Lane No. 3 Near Hirabaug Pune 411002 Tel.: +91 2041000600 Web: www.pesb.co.in Email: info@pesb.co.in Fax: +91 2024498100 CIN No.: L67120PN2007PLC130374 05th November, 2026 Corporate Relationship Department BSE Limited 1 st Floor, P. J. Towers, Dalal Street, Mumbai – 400 001 Ref.: Scrip Code: 544141 (Pune E- Stock Broking Limited) Sub: Outcome of Earnings Conference Call for the half year ended on 30 September 2026 held on 03rd November 2026- Transcript Dear Sir/Madam, Pursuant to Regulation 30 read with Para A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Please find attached herewith Transcript (Annexure A) of Conference Call with investors held on Tuesday, 3rd November, 2026 at 4:00 P.M to discuss the financial performance of the company. Day Date Time Type of interaction Tuesday 3rd November, 2026 04:00 PM Group Conference Call The interaction was held with the aforesaid Analysts/Investors based on generally available information and not related to any Unpublished Price Sensitive Information. We request you to take the above on record. Enclosure: Annexure A- Transcript of investor call Thanking you, Yours faithfully, For Pune E- Stock Broking Limited Ashwini Ashish Kulkarni Company Secretary and Compliance Officer ICSI Member No.: A31274 ANNEXURE A “Pune E-Stock Broking Limited H1 FY27 Conference Call” November 03, 2026 MANAGEMENT: MR. VRAJESH SHAH – CHAIRMAN AND MANAGING DIRECTOR – PUNE E-STOCK BROKING LIMITED MR. RONAK JHAVERI – WHOLE-TIME DIRECTOR – PUNE E-STOCK BROKING LIMITED MR. ARPIT SHAH – CHIEF FINANCIAL OFFICER – PUNE E-STOCK BROKING LIMITED MODERATOR: MS. SAKSHI SHAH – GO INDIA ADVISORS Moderator: Ladies and gentlemen, good day and welcome to the Pune E-Stock Broking H1 FY27 Conference Call hosted by Go India Advisors. 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, 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. Sakshi Shah from Go India Advisors. Thank you, and over to you, ma'am. Sakshi Shah: Thank you. Good evening everyone and welcome to the H1 FY27 Earnings Call of Pune E-Stock Broking Limited. We have on the call Mr. Vrajesh Shah, Chairman and Managing Director, Mr. Ronak Jhaveri, Whole-Time Director, and Mr. Arpit Shah, Chief Financial Officer. We must remind you that the discussion on today's call may include certain forward-looking statements and must therefore be viewed in conjunction with the risk that the company faces. May I now request the management to take us through the business outlook and financials, subsequent to which we will open the floor for Q&A. Thank you, and over to you, Vrajesh sir. Vrajesh Shah: Yes. Good evening, everyone. A very warm welcome to the H1 FY27 Earning Call of Pune E-Stock Broking Limited. We are delighted to host our very first earning call and appreciate you taking some time to join us today. Thank you for being here. When we incorporated this company in 2007, we were beginning with the belief that financial markets should be built on trust, and our tagline also, 'Your trust is our capital'. It was not created merely to sound good. It reflected what we wanted this institution to stand for. In our business, technology can make transaction faster, products can make a platform wider, and capital can help a business grow. But none of this can replace the trust that a client places in you when they make a financial decision. That belief has stayed with every phase of our journey. With that I hand over the call to Mr. Ronak Jhaveri, our Director. Ronak Jhaveri: Good evening, everyone. Thank you for joining us today. We have seen market rise, fall, change direction, and change character. We have seen technology reshape the way people invest, regulations reshape the way brokers operate, and new generations of investors enter the market. Through all of it, one thing has remained constant, our responsibility is to keep earning the confidence of the people who choose to do business with us. And the backbone of this business has always been our people. The relationships our team build, the care with which they serve clients, the discipline with which they manage risk, and ownership they take every day are what have brought PESB to where it is today. Our platforms, our product matters, but it is our people who bring our promise to life. The market environment in the first half of FY27 was not an easy one. Much of the pressure came from the developments beyond our borders. The conflict in West Asia, which broke out in March, kept crude oil prices high, and in September, Brent rose from below USD90 to nearly USD110 per barrel. The US Federal Reserve raised rates. The 10-year G-Sec bond yield touched its highest level since 2007, and the rupee came under pressure. Foreign investors were net sellers of more than INR2.3 lakh crores in the cash market between April to September '26. Nifty fell about 6% in in September alone, and ended just around 1% up for the first half of the year. These are not just market statistics for us. They describe the uncertainty that investors, business, and market intermediaries had to navigate. When markets become volatile, confidence is tested. Investors become more selective, activity can slow, and every participant has to be thoughtful about how they deploy capital and manage risk. Yet what stood out to us was the resilience of Indian investors. Over the same 6 months, domestic institutions bought close to INR3.9 lakh crores of equities. The monthly SIP contribution reached a record of over INR32,400 crores in September, which turns out to around INR3.9 lakh crores yearly investment. In earlier cycles, a sell-off of this size may have pushed many retail investors to the sidelines. This time they stayed invested. We see this as a meaningful change in the way India is participating in its financial markets. Savings are increasingly finding their way into financial assets, and investors are becoming more enduring part of the market. That gives us confidence, not because markets will always move in one direction, but because the underlying participation is becoming broader and more consistent. For the broking industry, however, the challenge is also structural. The way people trade and invest is changing. SEBI's measures on futures and options more than halved option volumes in 2026 and reduced the number of individual F&O traders by about fifth. And in April this year, higher security transaction tax on derivatives added to the pressure. We do not see this simply as a difficult phase to wait out. We see as a signal to evolve. Activity is moving towards cash market and funded positions. Industry's margin trading book grew from over INR1.4 lakh crores at the end of June to about INR1.6 lakh crores by the end of September, and India now has more than 24 crores demat accounts. For us, the message is clear. The future of broking cannot depend only on opening more accounts or on the volumes of a single product. It will depend on how meaningfully we serve each client with our research, advice, funding, technology, and wider range of financial products. We are building relationships that remain valuable across market cycles, not relationships that depend only on a busy trading day. There are also opportunities emerging alongside these challenges. The primary market told a very different story from the secondary market. Mainboard IPOs raised a record INR94,200 crores in the first half across 78 issues. This is 35% higher than last year, including the listing of NSE itself and with SME issues, the total IPO fundraise crossed over INR1 lakh crores. Indian companies continue to [Showing first 8,000 characters — download PDF for full document]