Transcript of Investors'' Conference Call on Q2 and H1 FY27 Financial Results

Ref: BIRLANU/SE/2026-27/52 November 9, 2026 To To BSE Limited National Stock Exchange of India Limited P.J. Towers, Dalal Street 5th Floor, Exchange Plaza, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 509675 Scrip Symbol: BIRLANU Through: BSE Listing Centre Through: NEAPS Sub: Transcript of Investors’ Conference Call on Q2 & H1 FY27 Financial Results In continuation to our earlier letters dated October 29, 2026 and November 3, 2026, filed in terms of the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached transcript of the Analyst/Investors’ Conference Call held on November 3, 2026 on the unaudited standalone and consolidated financial results of the Company for the quarter and half year ended September 30, 2026. The copy of the said transcript is also available on the website of the Company at www.birlanu.com. Yours faithfully, For BirlaNu Limited (formerly HIL Limited) Nidhi Bisaria Company Secretary & Compliance Officer Membership No. F5634 Encl. as stated PIPES CONSTRUCTION CHEMICALS PUTTY ROOFS WALLS FLOORS BirlaNu Limited (formerly HIL Limited) Corporate Office: BirlaNu Limited, 6th Floor, Birla Tower, 25 Barakhamba Rd, New Delhi - 110001 Registered Office: Office No. 1 & 2, L7 Floor, SLN Terminus, Sy. No. 133, Near Botanical Gardens, Gachibowli, Hyderabad - 500032, Telangana, India. CIN: L74999TG1955PLC000656 +91 40 6824 9000 customercare@birlanu.com www.birlanu.com BirlaNu Limited Q2 & H1 FY27 Earnings Conference Call Transcript November 03, 2026 Moderator: Ladies and gentlemen, good day, and welcome to BirlaNu Limited's 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 touchtone phone. Please note that this conference is being recorded. I will now hand the conference over to Mr. Mit Shah from CDR India. Thank you, and over to you, Sir. Mit Shah: Thank you, Neerav. Good afternoon, ladies and gentlemen, and welcome to BirlaNu Limited's Q2 and H1 FY27 Earnings Conference Call for investors and analysts. Today we have with us Mr. Akshat Seth, Managing Director and CEO of the company and Mr. Ajay Kapadia, CFO. We will first have Mr. Akshat Seth making the opening comments. He will be followed by Mr. Ajay, who will take you through the financial perspectives. Before we begin, I would like to point out that certain statements made in today's call could be forward-looking in nature and details in this regard are available in the earnings presentation that has been shared with you earlier. BIRLANU LTD’S Q2 & H1 FY27 EARNINGS CALL TRANSCRIPT Page 1 of 29 I would like to invite Mr. Akshat Seth to present his views on the performance and strategic imperatives that lie ahead. Thank you, and over to you, Sir. Akshat Seth: Thank you, and good afternoon, everyone. Thank you for joining us today. At the outset, I want to share that BirlaNu has delivered yet another strong quarter of growth and profitability. The revenue for our India business grew by 17% to Rs. 588 crores, and this is now the third consecutive quarter of double-digit revenue growth. EBITDA rose 3.3x to Rs. 40 crores for the quarter. The margins for us strengthened across most of our categories and our product mix continued to shift towards higher value offerings, and that is a key theme that you would resonate across our product segments. This consistent performance delivered in a far from easy external environment, reflects deliberate choices we have made over the last couple of years, strengthening our portfolio, building a sharper and more efficient execution engine on both sales and operations, and investing behind our brands. These efforts are now showing up in our numbers quarter after quarter, and we intend to build on them. I will walk you through the performance of each business before updating you on the strategic agenda and the progress on that. Our Roofs business continued to be the strong growth engine for the company with revenue up 28% over last year and a volume growth of 21%. We are also selling a richer mix with the share of value-added products 35% higher than last year. There is a sharp focus on cost, and the benefit of operating leverage helped us improve margins further, even as input costs were on an increasing trend. To make these gains structural, we have initiated a comprehensive value enhancement program internally, specifically for the Roof segment. It is already bringing in savings with the full benefit expected to come through at an annual level from next year. BIRLANU LTD’S Q2 & H1 FY27 EARNINGS CALL TRANSCRIPT Page 2 of 29 We continue to strengthen our leadership in this category with market share gains during this quarter as well. In Walls, our revenue grew by 5.4%, along with a significant step-up in margins, which expanded by over 200 basis points over the previous quarter and 120 basis points over last year. And this was supported by better realizations, improved mix, and tighter cost management across all our products. We are also broad basing our growth. Alongside our traditional institutional channels, we have significantly increased our retail presence, giving the business a wider and more resilient demand base. Pipes has delivered a strong turnaround this quarter with revenue growing at nearly 20% over last year and also sequentially, while margins improved by 630 basis points. The quality of growth has improved as well. Value-added products, including fittings now make up 47% of the portfolio, which is significantly higher than last year. Our focused market development efforts are clearly paying off with our priority markets growing significantly faster and gaining share. We have also introduced new business segments such as manufacturing as a service within pipes, which lets us make better utilization of our assets, and we are building on these to further improve the overall margin profile of the business. Construction Chemicals grew by about 35% despite severe cost and pricing pressure arising from the ongoing geopolitical situation. Growth was helped by focused market development and an expanding product portfolio. At Clean Coats, which is our most recent acquisition, revenue was up by about 50% compared to same period last year, even as higher prices across all key raw materials continue to weigh on the margins. The foundational work at Clean Coats is now in place, and it has built a strong order pipeline for the rest of the year and beyond. As input costs stabilize, we expect the operating leverage to support a gradual recovery in margins as well. BIRLANU LTD’S Q2 & H1 FY27 EARNINGS CALL TRANSCRIPT Page 3 of 29 I am now turning to Parador, for which it was a challenging quarter. Demand in key European markets remained weak, compounded by broader global sluggishness and revenue declined about 4.4% over last year. Profitability was impacted by cost pressures and lower volumes. We are acting decisively to reset the business for recovery. There is a cost-out program being led by the BCG team in Germany, alongside a range of other measures to restore the margins. At the same time, we are not losing sight of the long term. Parador continues to build its presence in the new markets, notably the U.S., India, and the Middle East and to win new customers in the commercial segment. And finally, to strengthen the core of DIY and retail business in Europe. These efforts will position Parador well as its markets recover. We remain confident in Parador's long-term potential as a premium flooring brand. At a consolidated level, revenue for the quarter grew 9.2% to Rs. 885 crores. Overall profitability, however, was impacted by the weaker performance at Parador. Aside of Parador, the India business continues to deliver on our stated o [Showing first 8,000 characters — download PDF for full document]