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REF: DSIL/2026-27/ 135 Date: 28th July 2026 Corporate Relationship Department National Stock Exchange of India Limited Bombay Stock Exchange “Exchange Plaza” Phiroze Jeejeebhoy Towers Bandra – Kurla Complex, Dalal Street, Fort, Mumbai - 400 001 Bandra [E], Mumbai - 400 051 Fax: 22723 2082 /3132 Scrip Code – 532610 Scrip Code – DWARKESH Sub: Disclosure under regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 – Investor Presentation Dear Sir, Pursuant to regulation 30 – Schedule III - Part A of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we hereby submit the Investor Presentation for the quarter ended June 30, 2026. The Investor Presentation is being submitted for your information and records. Kindly take the same on record. Thanking you, Yours faithfully, B. J. Maheshwari Managing Director & CS cum CCO (DIN: 00002075) Encl: as above. Investor Presentation Company Performance Date Q1 FY27 Results 28 July 2026 This presentation and the accompanying slides (the “Presentation”), which have been prepared by Dwarikesh Sugar Industries Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. This presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost overruns on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company. Safe harbor statement • Sector outlook ... 4 Table of • Business overview ... 6 • Financial performance ... 11 contents • Operation trends ... 16 • Pictures of our facilities ... 22 ❑ Global sugar production is projected to reach a record level in 2025-26, with the ISO estimating output at 182.0 MMT and the USDA at 186.056 MMT, resulting in an estimated 2.2 MMT global surplus. For 2026-27, both agencies expect production to moderate, while global consumption is projected to rise marginally to a record 179.991 MMT, tightening the demand-supply balance. ❑ Accordingly, the ISO expects the global sugar market to shift from a 2.2 MMT surplus in 2025-26 to a 0.262 MMT deficit in 2026-27, largely due to lower production in key producing countries. This outlook, coupled with concerns over below-normal monsoon rainfall in India, has strengthened global sugar prices, with New York raw sugar trading at 14.50–15.00 cents/lb and London white sugar above USD 465/MT. ❑ According to the latest industry estimates, sugar production for Sugar Season 2025-26 is expected to be significantly lower than earlier projections. Net sugar production achieved so far stands at around 276 lakh tons. With only a handful of mills still in operation, the season is now expected to conclude with net sugar production of approximately 280 lakh tons. ❑ After accounting for sugar exports of around 7 lakh tons, the closing stock is estimated to be equivalent to nearly two months' domestic consumption, a level considered adequate to ensure comfortable availability in the domestic market. ❑ The possibility of an El Niño weather pattern poses a key risk to sugarcane production during Sugar Season 2026-27 in India and could tighten the domestic sugar balance sheet. Any adverse impact is expected to be more pronounced in Maharashtra and the southern sugar- producing states, where sugarcane cultivation is relatively more dependent on rainfall and reservoir levels. ❑ Ex-factory sugar prices, which averaged around ₹4,000 per quintal during FY 2025-26, improved modestly during the first quarter of FY 2026-27. The positive momentum has continued, with prices currently ruling in the range of ₹4,200–4,300 per quintal. Supported by lower carry-over inventories, steady domestic demand and a well-balanced demand-supply scenario, domestic sugar prices are expected to remain firm in the near term. Sector outlook ❑ In view of the downward revision in sugar production estimates for Sugar Season 2025-26, the relatively lower production outlook for Sugar Season 2026-27, and the recent firming of domestic sugar prices, the Government has announced a series of measures to ensure adequate market availability and contain any sharp increase in prices. ❑ These measures include the imposition of stock holding limits on traders and dealers, along with a warning of punitive action against sugar mills that fail to sell their entire monthly release quota. The Government is also considering various other measures to ensure a more even supply of sugar in the market and prevent any undue escalation in prices. ❑ One of the key challenges facing the sugar industry is the lack of revision in the prices of ethanol derived from sugarcane juice and B-Heavy molasses, coupled with the preferential offtake of grain-based ethanol. ❑ Despite the challenges faced by the Indian sugar industry, the country's ethanol blending program continues to make significant progress, with blending levels now around 20%. The Government's long-term vision of higher ethanol blends and wider adoption of flex-fuel vehicles has the potential to enhance energy security, reduce crude oil imports, lower carbon emissions and create sustainable opportunities for the sugar industry. However, the program continues to face public scrutiny over vehicle compatibility, engine wear and food security concerns. Addressing these through scientific evaluation, technological advancements and a stable policy framework will be critical to the long-term success of India's biofuel program ❑ Based on the available indications, the sugarcane crop in Uttar Pradesh appears to be in good condition, although the area under sugarcane cultivation is estimated to have declined marginally. ❑ The impact of the red rot disease that had severely affected the widely cultivated Co 0238 variety has largely receded, with the variety now having been substantially replaced by newer, disease-resistant varieties. The improved varietal mix, coupled with favorable crop development so far, augurs well for cane availability. Subject to the absence of any unforeseen adverse weather conditions, particularly during the critical post-September period, Uttar Pradesh is expected to witness a healthy sugarcane crop in the ensuing season fo 2026-27 Sector outlook Business overview A bri [Showing first 8,000 characters — download PDF for full document]