Transcript of Earnings Call is enclosed.

November 06, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Exchange Plaza, C-1, Block - G, Street, Bandra Kurla Complex, Mumbai - 400 001 Bandra (East), Mumbai - 400 051 Scrip Code: 543212 Symbol: BOROLTD Dear Sirs, Sub: Transcript of Earnings Call Please find attached the transcript of the Earnings Conference Call held on Monday, November 02, 2026. The aforesaid transcript is also available on the Company's website at www.borosil.com. You are requested to take the same on record. Thanking you. Yours faithfully, For Borosil Limited Pradeep Joshi Company Secretary & Compliance Officer FCS - 4959 Encl.: as above “Borosil Limited Q2 FY27 Earnings Conference Call” November 02, 2026 MANAGEMENT: MR. SHREEVAR KHERUKA – VICE CHAIRMAN AND MANAGING DIRECTOR – BOROSIL LIMITED MR. RITURAJ SHARMA – CHIEF EXECUTIVE OFFICER – BOROSIL LIMITED MR. RAJESH KUMAR CHAUDHARY – WHOLE-TIME DIRECTOR – BOROSIL LIMITED MR. ANAND SULTANIA – CHIEF FINANCIAL OFFICER – BOROSIL LIMITED MR. DHAVAL PATEL – HEAD, INVESTOR RELATIONS – BOROSIL LIMITED MODERATOR: MR. MANAN GOYAL -- ICICI SECURITIES LIMITED Page 1 of 16 Borosil Limited November 02, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Borosil Limited Q2 FY27 Earnings Conference Call hosted by ICICI Securities Limited. 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 call, please signal an operator by pressing star then zero on a touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Manan Goyal from ICICI Securities Limited for the opening remarks. Thank you, and over to you, sir. Manan Goyal: Thank you. On behalf of ICICI Securities, we welcome you all to Q2 FY27 and H1FY27 Results Conference Call of Borosil Limited. Today, we have with us senior management represented by Mr. Shreevar Kheruka, Vice Chairman and MD; Mr. Rituraj Sharma, CEO; Mr. Rajesh Kumar Chaudhary, Whole-Time Director; Mr. Anand Sultania, CFO; and Mr. Dhaval Patel, Head Investor Relations. Now I hand over the call to the management for their initial comments on the quarterly performance. Then we will open the floor for Q&A session. Thank you, and over to you, sir. Rituraj Sharma: Thank you, Manan, and ICICI Securities for arranging this call. Good afternoon to every one of you. The Borosil team is delighted to be communicating with you once again. I'm pleased to inform you that Borosil Limited's Board has approved the financial results for Q2 FY27 and H1 FY27 during our Board meeting held on 29th October 2026. We have submitted our results and an updated presentation to the Stock Exchanges, and they are also available on our company's website for your review. Some quick updates for Q2 FY27 and H1 FY27: 1. I would like to highlight an important positive development for our Borosilicate Glassware business. Following the anti-dumping application filed by Borosil, the Directorate General of Trade Remedies, DGTR, in its final findings issued on September 24, 2026, has conclusively established significant dumping of Borosilicate table and kitchenware glassware from China, resulting in material retardation of the domestic industry. DGTR has recommended the imposition of antidumping duty for a period of five years, subject to notification by the Ministry of Finance. This is a significant milestone for Borosil, particularly in light of our substantial investments in establishing indigenous manufacturing capabilities. We believe that the implementation of the recommended duty will help restore a level playing field, improve capacity utilization and profitability and create a more conducive environment for future investments, capacity expansion and import substitution. We remain optimistic about the long-term growth prospects of this business while awaiting the government's final notifications. 2. We are pleased to inform you that the Company through its wholly owned subsidiary, Stylenest India Limited has successfully commissioned BIS-compliant manufacturing unit Page 2 of 16 Borosil Limited November 02, 2026 with two double wall lines for vacuum stainless-steel flasks, bottles and containers in the state of Rajasthan. The commercial production from the two double wall lines commenced on 30th June 2026, and the production from third double wall line is expected to commence in January 2027. 3. We have successfully commissioned captive ground-mounted solar power plants at Bikaner in three phases, aggregating to a total capacity of 35.8-megawatt peak with a 16.9 megawatt hour battery energy storage system. Consequently, solar power now meets approximately 60% of our overall power requirements, significantly reducing our dependence on conventional energy sources and strengthening our sustainability initiatives. 4. The company has strengthened its direct-to-consumer retail presence with the launch of its first exclusive Borosil brand stores in Pune and Gurugram. These stores provide an immersive shopping experience, showcasing the company's comprehensive portfolio of kitchen, dining, home and lifestyle products under one roof. The initial response has been encouraging with good consumer traction in both locations. This initiative is aimed at enhancing brand visibility, deepening consumer engagement, improving product discovery and creating an additional channel for revenue growth. The company will leverage the learnings from these stores to progressively expand its exclusive retail network, strengthening its direct consumer connects and long-term brand equity. I'm pleased to report that Borosil Limited delivered a healthy performance in H1 FY27 with revenue from operations increasing to INR627.4 crores from INR576.8 crores in the corresponding period last year, registering a Y-o-Y growth of 8.8%. This growth achieved despite challenging market conditions, reflects the resilience of our business model, the strength of our execution capabilities and the continued trust and loyalty of our customers. It also reinforces our competitive positioning in the industry. The Company delivered a significant improvement in operating profitability during H1FY27. Gross Profit increased by 15.6% to ₹408.9 crore, compared to ₹353.6 crore in H1FY26. Gross Profit Margin improved substantially by 390 basis points, from 61.3% to 65.2%. EBITDA, excluding other income, increased by 20.5% to ₹107.7 crore from ₹89.4 crore in the corresponding period last year. In response to the increase in fuel, raw material and packaging material costs arising from the West Asia conflict, the Company implemented price increases across product categories. These measures, along with an improved product mix and continued focus on operational efficiencies, helped partially mitigate the impact of higher input costs and supported the improvement in overall gross and EBITDA margins. In H1FY27, our Other Operating Income stood at INR 24.0 crores, on account of Shared Service Support Income and Royalty Income, with the related expenses reflected under total expenses with other operating income of INR 16.2 crores in H1FY26. Profit Before Tax for the half year was INR 60.3 crores versus INR 53.9 crores in the same period last year. The total Other Income of INR 4.4 crores in H1FY27 includes Rent Income of INR 2.0 crores, and Investment Income Page 3 of 16 Borosil Limited November 02, 2026 of INR 2.1 crores, while the total other Income in H1FY26 of INR 11.8 crores included Rent Income of INR 1.9 crores, Investment Income of INR 2.2 crores and a one- time Stamp Duty reversal of INR 7.2 crores, partly offset by professional fees of INR 1.6 crores. Depreciation and finance costs increased to INR 51.8 crores in H1FY27 from INR Rs. 47.2 crores in H1FY26 partly on account of commissioning of two double wall hydra line. Overall, Profit After Tax improved t [Showing first 8,000 characters — download PDF for full document]