as attached.

Ref: GSL/CS/Q3/2026-27 Date: 06.11.2026 BSE Limited National Stock Exchange Limited Department of Corporate Services, Exchange Plaza, 5th Floor, Pheroze Jeejeebhoy Towers, Plot No. C/1, G Block, Dalal Street, Bandra-Kurla Complex, Mumbai – 400001 Mumbai – 400051 Script code: 544140 Symbol: GOPAL Sub: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 –Transcript of Earning Conference Call – Q2 UFR FY27 Dear Sir / Madam, In continuation of our letter dated 03.11.2026 for Analyst / Investor Earning Conference Call and in pursuant to Regulation 30 and 46 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, enclosed herewith the transcript of the Earning Conference Call with the Investors and Analysts held on Tuesday 03rd November 2026 at 03:00 PM (IST) to discuss the operations and financial performance for the quarter and half year ended on 30th September 2026. The transcript of the Earning Conference Call will be available on the website of the Company at: www.gopalnamkeen.com Kindly acknowledge and take on your record. Thanking You. Yours Faithfully, For, GOPAL SNACKS LIMITED CS Mayur Gangani Head – Legal & Compliance cum Company Secretary Membership No. F9980 Encls: a/a “Gopal Snacks Limited Q2 FY27 Earnings Conference Call” November 03, 2026 MANAGEMENT: MR. NAVEEN GUPTA – CHIEF BUSINESS OFFICER MR. RIGAN RAITHATHA – CHIEF FINANCIAL OFFICER MODERATOR: MR. SANJAY MANYAL – DAM CAPITAL ADVISORS Page 1 of 16 Gopal Snacks Limited November 03, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Gopal Snacks Q2 FY27 Earnings Call hosted by DAM Capital Advisors Limited. As a reminder, all participants line will be in 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. I now hand the conference over to Mr. Sanjay Manyal from DAM Capital Advisors. Thank you, and over to you. Sanjay Manyal: Thank you. Good afternoon, everyone. We would like to thank the management of Gopal Snacks for providing DAM Capital with the opportunity to host Q2 FY27 conference call. We have with us today Mr. Naveen Gupta, Chief Business Officer; Mr. Rigan Raithatha, Chief Financial Officer. I hand over the call to the management for opening remarks. Over to you, sir. Naveen Gupta: Thank you, Sanjay. Good afternoon, and thank you for joining us for the earnings call. We hope you all had a chance to go through our investor presentation uploaded on the stock exchange. We'll share our key operating and financial highlights for the quarter and half year ended September 30, 2026. Q2 FY27 marks further progress for Gopal Snacks as the restoration of manufacturing capabilities and expansion of our distribution network translated into higher revenue and improved profitability. Our focus during the first half has been on improving product availability, strengthening manufacturing integration, and reaching more consumers across our markets. During the quarter, revenue from operations increased by 22.9% year-on-year to INR 461.5 crores. With sequential growth of 9.3%. For first half FY27, revenue increased by 26.7% to INR 883.9 crores. Demand across key product categories contributed to this performance, with Gathiya sales growing by 25.6%, wafers by 40%, Snack Pellets and extruded snacks by 23% year-on-year during the quarter. Improved product availability and wider distribution coverage helped us serve this demand more effectively. On the distribution front, we continue to deepen our presence in existing markets and improve coverage across underserved regions. Our distributor network increased to 1,057 at end of September compared to 1,007 at end of June. And 953 at end of FY26. In addition, our network includes 150 micro distributors under the super stockist model, helping improve accessibility across markets. We also continue to strengthen our distribution management system to improve inventory visibility and distributor engagement. Better visibility across the network helps us plan supplies and respond more effectively to market requirements. These capabilities remain important as we expand our reach and improve service levels. In terms of branding and marketing, we continue targeted initiatives across digital platforms and traditional media. Page 2 of 16 Gopal Snacks Limited November 03, 2026 Campaigns across Jio, Hotstar, Sony LIV, and Spotify, along with influencer collaborations, newspaper advertisement, and event sponsorships, help increase brand visibility and consumer engagement. Looking ahead, our focus remains on improving capacity utilization, expanding distribution, and building greater consumer awareness. With our manufacturing capabilities restored and a wider distribution network, we will continue to work towards converting these investments into sustained growth and improved profitability. We remain committed to delivering quality products and creating long-term value for all the stakeholders. I would now like to invite our Chief Financial Officer, Mr. Rigan Raithatha, to share his perspective on the financial performance during the quarter. Rigan Raithatha: Thank you, Naveen Bhai. Good afternoon to everyone. Now let me take you through the key financial highlights for the quarter and half year ended September 2026. Gross profit for the quarter was INR 125 crores, registering the growth of 26.1% year-on-year basis. Gross margin improved to 27.1% as compared to 26.4% in Q2 FY26. Improved pricing, grammage correction, and manufacturing efficiency help us to manage the gross margin in a challenging raw material cost environment. EBITDA for the quarter increased by 72% year-on-year and 32% sequentially to INR 41.6 crore. EBITDA margin improved to 9% as compared to 6.4% in Q2 FY26 and 7.4% in Q1 FY27. The improvement reflected due to operational leverage, profitable product mix, and continued cost discipline as the revenue increased. Profit before tax before exceptional item is INR 25.9 crores, an increase of 93% year-on-year basis. Profit after tax was at INR 45.9 crores, resulting in a PAT margin of 9.9%. Reported profit also includes net exceptional gain of INR 35.3 crores during the quarter. Now moving on to the half- year performance. For H1 FY27, revenue from operations increased 26.7% year-on-year to INR 884 crores. Gross profit increased by 30.5% to INR 238.6 crores, with a gross margin improving to 27% from 26.2% in H1 FY26. EBITDA for first, half increased by 85.7% to INR 73 crores with a margin expanding to 8.3% from 5.6%. Profit before tax, before exceptional items, increased by 138% to INR 44.5 crores, and profit after tax was at INR 58.7 crores as compared to INR 28.2 crores in H1 FY26, with a PAT margin of 6.6%. The half-year PAT includes the net exceptional gain of INR 35.3 crores as compared to INR 21.8 crores in a corresponding period of last year. Following the quarter end, we have received full and final insurance claim of INR 36.4 crores relating to fire incident from the insurance company in October 2026. Aggregate recovery including the earlier interim payment, scrap sale proceeds, and the final approved claim amounts to INR 77.4 crores. On the operational front, production product consolidation and greater backward integration remain important area of focus. These initiatives are expected to lower our operating cost, logistic cost, and power cost going forward. The Besan manufacturing unit commenced during Page 3 of 16 Gopal Snacks Limited November 03, 2026 September at Nagpur brings a key input closer to our snack manufacturing operations, simplifying material movement and enabling recurring transportation costs. As we move towards second half of FY27, our focus remains on a [Showing first 8,000 characters — download PDF for full document]