Press Release

November 05, 2026 Bombay Stock Exchange Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Tower, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Fort, Mumbai-400001 Bandra (E), Mumbai-400051 Scrip Code: 513509 Symbol: KALYANIFRG Dear Sir/Madam, Sub : Press Release on unaudited standalone financial results for quarter ended on September 30, 2026 Dear Sir/Madam, Please find enclosed the press release titled “Kalyani Forge Board Approves ₹45 Crore Funding Plan to Power Next Phase of Growth; H1 FY27 PBT More Than Doubles (+118.8%) and EBITDA Grows 38.8% YoY”. The above press release will also be available on the website of the Company at www.kalyaniforge.com Kindly take the same on your record and acknowledge. Thanking you, Yours Faithfully, For Kalyani Forge Limited Viraj G. Kalyani Managing Director DIN: 02268846 CIN: L28910MH1979PLC020959 REGD OFFICE: Shangrila Gardens, 1st Floor, ‘C’ Wing, Opp. Bund Garden, Pune: 411001 Tel. +91 2137 252335/755 Fax +91 2137 252344 Website: www.kalyaniforge.com Email: companysecretary@kforge.com Press Release Kalyani Forge Board Approves ₹45 Crore Funding Plan to Power Next Phase of Growth; H1 FY27 PBT More Than Doubles (+118.8%) and EBITDA Grows 38.8% YoY PUNE, INDIA — November 6, 2026: Kalyani Forge Limited today announced that its Board of Directors has approved a ₹45 crore Funding Plan for FY27, combining equity, debt and the monetisation of non- core assets, to strengthen the balance sheet, fund working capital and support the ramp-up of new orders. The Company also announced its financial and operational results for the quarter ended September 30, 2026, with H1 FY27 Profit Before Tax more than doubling (up 118.8%), EBITDA growing 38.8% and Profit After Tax growing 86.7% year on year. In Q2, PBT grew 42.88% and EBITDA margin expanded by 158 basis points to 14.23%. These results were delivered while the Company carried out planned capacity upgrades and a change of banking partner during the quarter. Board-Approved Funding Plan: ₹45 Crore to Power the Next Phase of Growth The Board of Directors has approved a comprehensive ₹45 crore Funding Plan for FY27, designed to strengthen the balance sheet, fund working capital and support the ramp-up of new engine and wheel hub orders. The plan draws on a diversified mix of sources. The allocation below is indicative; figures are tentative guidelines and not definitive: • Equity: Approximately ₹10 crore of equity capital to bring in long-term growth capital, subject to shareholder and regulatory approvals. • Debt: Approximately ₹20 crore through term loans and working capital facilities from the Company's banking partners. • Non-core asset and inventory monetisation: Up to ₹20 crore from the sale of non-core assets and the monetisation of inventory, releasing capital for core operations. Together, these measures are expected to strengthen liquidity and balance sheet flexibility, and to fund the ramp-up of new orders and ongoing capacity upgrades. The plan will be executed in phases through FY27. Q2 FY27 Financial Highlights (Unaudited) Particulars Q2 FY27 Q2 FY26 YoY Growth Revenue from Operations (₹ 5444.86 5567.32 -2.20% Lakhs) EBITDA (₹ Lakhs) 778.09 711.20 9.41% EBITDA Margin (%) 14.23% 12.65% – Profit Before Tax (₹ Lakhs) 323.88 226.68 42.88% Profit After Tax (₹ Lakhs) 216.14 215.01 0.53% EPS (₹) 5.94 5.91 0.53% www.kalyaniforge.com Revenue from Operations stood at ₹5,444.86 lakh in Q2 FY27, compared to ₹5,567.32 lakh in the corresponding quarter of the previous year. EBITDA registered YoY growth of 9.41% to ₹778.09 lakh. EBITDA margin improved by 158 basis points to 14.23%, reflecting enhanced operational efficiency and cost optimisation. Profit Before Tax grew by 42.88% YoY to ₹323.88 lakh, highlighting a notable improvement in overall profitability. Revenue from Operations was marginally lower year on year (down 2.20%), reflecting reduced high-tonnage production during the planned reconditioning of the 2500T press and the relocation of the driveline machining plant, both undertaken to strengthen capacity and productivity for the coming quarters. H1 FY27 Financial Highlights Particulars H1 FY27 H1 FY26 YoY Growth Revenue from Operations (₹ 12124.48 11980.59 1.20% Lakhs) EBITDA (₹ Lakhs) 1867.20 1345.14 38.81% EBITDA Margin (%) 15.34% 11.14% – Profit Before Tax (₹ Lakhs) 939.21 429.25 118.80% Profit After Tax (₹ Lakhs) 664.11 355.66 86.72% EPS (₹) 18.25 9.77 86.84% For the first half of FY27, Profit Before Tax more than doubled to ₹939.21 lakh from ₹429.25 lakh in H1 FY26, a growth of 118.80%. EBITDA grew 38.81% to ₹1,867.20 lakh, with EBITDA margin expanding by 420 basis points to 15.34%, and Profit After Tax grew 86.72% to ₹664.11 lakh. The half-year performance reflects the sustained impact of cost optimisation, the Vriddhi Council initiatives and improved operating efficiency. EBITDA is computed as profit before tax plus finance costs and depreciation and amortisation; EBITDA margin is calculated on Total Income. Management Commentary Commenting on the results, Mr. Viraj Kalyani, Managing Director & CEO, said: "The Board's approval of a ₹45 crore Funding Plan is the most important development of the quarter. For the first time in the Company's transformation journey, we have taken a structural review of funding adequacy for our growth ambitions, with industry benchmarking and formulas. As we have gained confidence in the Company's operational profitability, funding growth is the next logical area of transformation. The plan gives us a diversified pool of capital across equity, debt and the monetisation of non-core assets and inventory, and puts the Company on a stronger financial footing to execute on the order pipeline we have built. At the same time, our Q2 performance reflects meaningful improvement in earnings momentum: H1 PBT more than doubled, EBITDA grew 39% and PAT grew 87% year on year, while Q2 PBT grew 43% with EBITDA margin expanding by 158 basis points, even as we carried out planned capacity upgrades and changed our banking partner during the quarter. With the upgraded press and consolidated machining plant in place, the Funding Plan approved and new engine and wheel hub programmes ramping up, we are well placed to restore volumes, strengthen our cash conversion and build on this momentum in the second half." www.kalyaniforge.com Operational & Strategic Highlights • Board-Approved Funding Plan: ₹45 crore plan across equity, debt and non-core asset and inventory monetisation approved to strengthen liquidity, fund working capital and support the order ramp-up. • Cost Optimization & Operational Efficiency: Continued emphasis on manufacturing productivity, OEE improvement and cost optimization remains central to strengthening operational efficiency and profit margins. • Disciplined Capital Allocation: The Company continues to focus on maximizing existing infrastructure utilization, improving asset productivity and maintaining prudent capital allocation. • Business Development & Growth Opportunities: Focus remains on strengthening customer relationships, expanding business opportunities and enhancing its presence across key automotive and industrial segments. • Working Capital & Banking: Trade receivables stood at ₹141.21 crore at September 30, 2026, compared with ₹102.65 crore at March 31, 2026. The increase reflects two factors: customer remittances and export receipts were delayed during the changeover to a new banking partner, undertaken for improved borrowing rates, and legacy phase-out customers have been slower in lifting their last-time-buy volumes. Improving receivables efficiency remains a key priority, supported by the Funding Plan. • Capacity & Layout Upgrades: Reconditioning of a 2500T press and consolidation of the driveline machining plant (MCD3) into MCD1 create a more compact shopfloor and free up space for future expansion. About Kalyani Forge Limited Kalyani Forge Limited is a Pune-based engineering company s [Showing first 8,000 characters — download PDF for full document]