Analysts/Institutional Investor Meet/Con. Call Updates

Date: 07.11.2026 To To Corporate Relations Department Listing Compliance Department, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1 Block G Dalal Street, Bandra Kurla Complex, Bandra (E) Mumbai – 400 001, India Mumbai – 400 051, India Scrip Code: 543989 Symbol: KALAMANDIR Dear Sir / Madam Sub: Transcript of the Conference call held to discuss the results Q2 H1 FY 2026-27 With reference to the above-mentioned subject, we wish to inform that, 1. The Copy of Transcript of the conference call held on Wednesday, November 4, 2026 to discuss the results of the Quarter and Half Year ended September 30, 2026 is enclosed herewith. 2. The Transcript also uploaded on the Company’s website and the website link of the same is: https://sskl.co.in/wp-content/uploads/2026/11/SSKL-Q2-Transcript.pdf 3. The list of management attendees is stated in the Transcript. 4. No unpublished price sensitive information was discussed in the call. This is for your information and records. For Sai Silks (Kalamandir) Limited Shilpa Kotagiri Company Secretary and Compliance Officer M. No. A23208 “Sai Silks (Kalamandir) Limited Q2 & H1 FY27 Earnings Conference Call” November 04, 2026 MANAGEMENT: MR. BHARADWAJ RACHAMADUGU -CHIEF EXECUTIVE OFFICER - SAI SILKS (KALAMANDIR) LIMITED MR. K.V.L.N. SARMA - CHIEF FINANCIAL OFFICER - SAI SILKS (KALAMANDIR) LIMITED INVESTOR MS. GARIMA SINGLA - GO INDIA ADVISORS RELATIONS: MS. MEHAL GOGIA - GO INDIA ADVISORS Page 1 of 16 Sai Silks (Kalamandir) Limited November 04, 2026 Moderator: Good morning, ladies and gentlemen. I am Karthikeyan, the moderator for this conference call. Welcome to the Q2 and H1 FY27 Earnings Call of Sai Silks (Kalamandir) Limited. As a reminder, all participants 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 * and then 0 on a touch-tone telephone. Please note that this conference is being recorded. I would now like to hand over the floor to Ms. Garima Singla from Go India Advisors. Thank you, and over to you, ma'am. Garima Singla: Thank you. Good morning, all. It's my pleasure to welcome you on behalf of Sai Silks (Kalamandir) Limited. Thank you for joining us today for the Q2 and H1 FY27 Earnings Conference Call. Today on the call, we are joined by Mr. Bharadwaj Rachamadugu, CEO; and Mr. K.V.L.N. Sarma, CFO. Please note that today's discussion may include certain forward-looking statements. Therefore, they must be viewed in conjunction with the risks that the company faces. I now invite Mr. Bharadwaj to present the company's business outlook and performance, after which we will open the floor for Q&A. Thank you, and over to you, sir. B. Rachamadugu: Thank you, everyone. And good morning, ladies and gentlemen, and a very warm welcome to the Sai Silks (Kalamandir) Limited Q2 and H1 FY27 Earnings Conference Call. Before we begin, I would like to extend my warmest wishes to all of you and your families on the occasion of this festive season. May this auspicious period bring happiness, prosperity and good health to everyone. I hope you have had an opportunity to review our financial results and investor presentations available on the stock exchanges as well as on our company's website. Over the past two decades, Sai Silks has evolved from a single saree store in Hyderabad into one of South India's leading organized ethnic wear retail platforms built on customer trust, deep regional understanding and a commitment to preserving India's rich textile heritage. Our focus remains on scalable retail and sustainable growth, building a more productive and profitable retail network through differentiated brands, operational efficiencies and disciplined capital allocation. The first half of FY27 witnessed a challenging discretionary consumption environment, particularly in the wedding and occasion-led categories. Q1 was impacted by Adhik Maas, while Dussehra-led festive momentum, which had commenced in September last year, shifted to October this year. Page 2 of 16 Sai Silks (Kalamandir) Limited November 04, 2026 This calendar shift, coupled with a relatively high base in the corresponding quarter, weighed on consumer demand and our quarterly performance. Against this backdrop, our financial performance demonstrated resilience. Q2 FY27 revenue stood at INR 434 crore compared with INR 444 crore in Q2 FY26, representing a decline of about 2.3% YoY. Gross profit stood at INR 183 crore, with gross margin improving by 20 basis points to 42%. EBITDA stood at INR 62 crore with a margin of about 14.2%, while our PAT stood at INR 31 crore, translating into a PAT margin of 7.2%. Encouragingly, sequential performance improved with revenue growing 15.7% and EBITDA increasing 18.8% between Q1 and Q2, with EBITDA margin expanding by about 37 basis points over Q1 FY27. For H1 FY27, revenue stood at INR 809 crore compared with INR 823 crore in H1 FY26, representing a decline of about 1.7%. Gross profit stood at INR 340 crore with gross margin maintained at 42%. EBITDA stood at INR 113 crore with an EBITDA margin of about 14%, while PAT stood at INR 57 crore, translating into a PAT margin of about 7%. The impact of subdued demand in the festive calendar shift was more pronounced in the same-store sales, with an SSSG decline of about 10.6% in Q2 FY27 and 9.2% in H1 FY27. Nevertheless, our ability to sustain gross margin reflects the strength of our sourcing capabilities, pricing discipline and merchandise mix management. In preparation for the ongoing festive and wedding season, we have maintained higher inventory levels, ensuring adequate merchandise availability and a wider assortment to capture anticipated demand. Most importantly, we remain net debt negative with a healthy cash balance of approximately INR 249 crore, providing financial flexibility to support seasonal working capital requirements and aggressive planned expansion. A key strength of our business is our diversified five-brand portfolio, serving consumers across all segments and all occasions. Kalamandir catering to the middle class and upper middle class income segments, Varamahalakshmi focused on traditional silk and wedding wear, Mandir serves the premium ethnic wear segment. KLM Fashion Mall as ethnic value fashion segment, and Valli Silks offers affordable traditional ethnic wear. This differentiated positioning is enabling us to address a broad customer base while maintaining disciplined store economics. Our expansion strategy continues to be cluster-led, with Karnataka remaining an important growth market this year. During H1 FY27, we opened six new stores, adding close to 56,000 square feet of retail space, while rationalizing Page 3 of 16 Sai Silks (Kalamandir) Limited November 04, 2026 our portfolio through the closure of one KLM Fashion Mall store measuring about 20,000 square feet. As of September 30, 2026, our store network comprises about 86 stores, spanning close to 820,000 square feet of retail area. Our 100% company- owned, company-operated model provides direct control over merchandising, inventory, and customer experience, while relationships with more than 4,000 weavers, artisans, and vendors support differentiated assortments and sourcing efficiency. Guided by our PQRS philosophy, which is pricing, quality, range and service, we remain focused on merchandise planning, inventory efficiencies and improving productivity across our retail network. As demand improves and recently opened stores mature, we expect higher store productivity and better fixed cost absorption to support operating leverage. Turning to our outlook. The festive season has been considerably brighter with improving consumer sentiment and stronger traction across markets. The shift in Dussehra into October coupled with favourable wedding calendar extending through the year end, and we ar [Showing first 8,000 characters — download PDF for full document]