Analysts/Institutional Investor Meet/Con. Call Updates

November 6, 2026 To, To, BSE Limited, Listing Department, 25, P. J. Towers, National Stock Exchange of India Ltd., Dalal Street, Exchange Plaza, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai- 400051 R ef: Company Scrip Code: 532834 Ref: Symbol: CAMLINFINE || Series: EQ Sub: Transcript of the conference call on the Un-audited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026 held on November 3, 2026. In continuation of our disclosures dated October 29, 2026 and November 3, 2026 and pursuant to Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), the transcript of the conference call held on Tuesday, November 3, 2026 on the Un-audited Financial Results (Consolidated and Standalone) for the quarter and half year ended September 30, 2026 is enclosed herewith and is also available on the Company’s website at https://www.camlinfs.com/investor-relations/home/investor_call_recording. The Management was represented by Mr. Nirmal Momaya, Managing Director, Mr. Santosh Parab, President - Strategy & Global CFO and Mr. Pankaj Pandey, Chief Financial Officer. Discussions were based on publicly available information. No unpublished price sensitive information (UPSI) was discussed during the interactions. We request you to take the above on record and the same be treated as compliance under the applicable Regulations of SEBI Listing Regulations. Encl. a/a. Thanking You, For Camlin Fine Sciences Limited Rahul Sawale Company Secretary & VP Legal “Camlin Fine Sciences Limited Q2 & H1 FY27 Earnings Conference Call” November 03, 2026 “E&OE - This transcript is edited for factual errors and readability. In case of discrepancy, the audio recordings uploaded on the stock exchange on 03rd November 2026 will prevail.” MANAGEMENT: MR. NIRMAL MOMAYA – MANAGING DIRECTOR – CAMLIN FINE SCIENCES LIMITED MR. SANTOSH PARAB – PRESIDENT - STRATEGY AND GLOBAL CFO – CAMLIN FINE SCIENCES LIMITED MR. PANKAJ PANDEY – CHIEF FINANCIAL OFFICER – CAMLIN FINE SCIENCES LIMITED Page 1 of 14 Camlin Fine Sciences Limited November 03, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Camlin Fine Sciences Limited Q2 and H1 FY27 Earnings Conference Call. 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 the conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this call is being recorded. This conference call may contain forward-looking statements about the company, which are based on beliefs, opinions and expectations of the company as on the date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. I now hand the conference over to the management for the opening remarks. Thank you, and over to you, sir. Nirmal Momaya: Good evening, ladies and gentlemen, and welcome to the Q2 FY27 earnings call. I'm Nirmal Momaya, the Managing Director of Camlin Fine Sciences, and welcome again. I will hand over the call to Santosh Parab, President, Strategy and Global CFO for updating you on all the decisions taken in the Board meeting as well as on the earnings for this quarter, Q2 of financial year '27. Santosh, over to you. Santosh Parab: Thanks, Nirmal. Good evening, everybody. We also have our CFO, Pankaj Pandey with us. He just joined and he will be also accompanying us in this call. I'll straight drive down to the two main decisions which were taken. One, of course, was the financial statement, but the other decision was that our Board today approved a rights issue of around INR250 crores. So, we'll be filing our draft letter of offer to stock exchanges by tomorrow and wait for their approvals, and very soon, we'll launch the issue. This issue has been backed by our promoters to the extent of their share individually and inter-se. As you know, we have been talking about the liquidity issues. We have also seen that we had negative carries in our earlier quarters, quite a few, three, four quarters and even this quarter, I will discuss about it, it’s not very encouraging on the EBITDA numbers and the cash flows. And also the economic conditions, the price changes, our inability to increase -- transfer the increase of prices to our customers, local competition and which has been impacting the liquidity issues, liquidity issues impacting our margins because we had overdue creditors, we had channel financing. So, it was imperative and this liquidity issue was also impending our growth, though some of the verticals have immense potential, but we are not able to push despite having excellent opportunities in market. So, we thought that then the promoters and the managers thought that it's the right time to infuse equity -- infusion of equity, which will help to bring the growth engine back on track, and it will help. Of course, this liquidity due to the procedure will take some time, and we expect that we should be in money by the end of this calendar year or early part of the next year. Page 2 of 14 Camlin Fine Sciences Limited November 03, 2026 Obviously, you know the process that after the letter offer is approved by the Stock Exchanges, we'll immediately approach the Board, decide the procedure, the pricing, the cutoff and issue size. Obviously, this purpose of the issue is for augmenting working capital, there are no project finances or other things. We are trying to stabilize the working capital. So obviously, this infusion also is to bring back and come back on the growth prospects of the company. Coming down to the financial result, of course, the financial results doesn't seem to be encouraging at all. But as I said, the issues of higher prices, inability to transfer those prices, local competition in some of the products, we had to -- we had changed over from methyl vanillin to almost one month before this quarter end, and that has also impacted the sale of Aroma, the production of Aroma. Underutilization of the plant has also impacted our margins and the EBITDA margins of Aroma. Almost our revenue in Aroma reduced from INR774 million to INR472 million, and this is entirely almost ethyl vanillin sale. Blends and the straights, the specialty ingredient business has been always the hallmark, and it has always done well. We have been able to hold our market in the blends business or the ingredient business we were INR3,086 million last quarter. This quarter, we are around INR2,970 million. Of course, we would have grown much, much faster, but for the liquidity issues, we have been not pushing the growth because this would have created working capital issues. On Straights also, we have been talking for last two quarters that our volumes have decreased a bit, but we have come back and we have taken back the volumes. We have moved from INR927 million to INR1,109 million. And this is despite the local competition, which is trying to reduce the prices and try to take market share. But we have been able to keep our market share, and we feel that we will be able to keep this trajectory on. Consequently, the EBITDA -- the total turnover of this specialty ingredient was a bit higher from INR4,013 million, we moved to INR4,089 million. Obviously, these -- both these sectors, we would have pushed more, but for the liquidity. EBITDA obviously improved from 6.35% to 8.04%. This has this -- with adequate liquidity support, this should very first go to the double digit. Performance, the residual thing here, we have the diphenol plant, which has been closed since May of '26. We closed it because of the exorbitant input prices and the rapid changes in the prices, the basic raw material phenol which is almost doubled -- more than doubled in the l [Showing first 8,000 characters — download PDF for full document]