Transcript of the Earnings Conference Call held on November 2, 2026

Date: November 9, 2026 The Manager The Manager Listing Department Listing & Compliance Department BSE Limited National Stock Exchange of India Limited P.J. Tower, Dalal Street Exchange Plaza, Bandra-Kurla Complex Mumbai - 400001 Bandra (East), Mumbai - 400051 Maharashtra, India Maharashtra, India Scrip Code: 543283 Scrip Symbol: UFBL Dear Sir/Madam, Subject: Transcript of Earnings Conference Call held on November 2, 2026 Pursuant to Regulations 30(6) and 46(2)(oa) read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby enclose the transcript of Earnings Conference Call held on Monday, November 2, 2026 at 05:00 PM (IST), post announcement of Financial Results of the Company for the quarter and half year ended September 30, 2026. The audio recording of the said Earnings Conference Call along with the Transcript have been uploaded on the Company’s website at www.unitedfoodbrands.in under Investors section. This is for your information and records. Thanking you. Yours faithfully, For United Foodbrands Limited (Formerly known as Barbeque-Nation Hospitality Limited) Nagamani C Y Company Secretary & Compliance Officer M. No: A27475 Encl.: As above United Foodbrands Limited (Formerly known as Barbeque-Nation Hospitality Limited) Earnings Conference Call Q2 & H1 FY27 November 2, 2026 Management: Kayum Dhanani : Managing Director Rahul Agrawal : Chief Executive Officer & Whole Time Director Amit V Betala : Chief Financial Officer Bijay Sharma : Head - Investor Relations 1 | United Foodbrands Limited United Foodbrands Limited Earnings Call Transcript Q2 & H1 FY27 Moderator: Ladies and gentlemen, good day, and welcome to the United Foodbrands Limited Q2 and H1 FY27 Earnings Conference Call hosted by MUFG Intime. 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 your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Bijay Sharma from United Foodbrands Limited. Thank you, and over to you, Mr. Sharma. Bijay Sharma: Thank you. Welcome, everyone, to United Foodbrands Limited Q2 FY27 Earnings Conference Call. For today's call, I have with me Mr. Kayum Dhanani, Managing Director; Mr. Rahul Agrawal, CEO and Whole-Time Director; and Mr. Amit V Betala, CFO. Before we begin, I would like to remind that some of the statements made in today's conference call may be forward-looking in nature and may involve risks and uncertainties. Kindly refer to our earnings presentation for a detailed disclaimer. The results and earnings presentation have already been uploaded on the websites of the Company and the stock exchanges for anyone to access. We'll begin the call with Mr. Dhanani sharing his perspective on the quarter, followed by a detailed discussion on operating and financial performance by Mr. Agrawal. We will then open the forum for questions. I'll now hand over the call to Mr. Kayum Dhanani. Thank you, and over to you, sir. Kayum Dhanani: Thank you very much. Good evening, ladies and gentlemen. And thank you for joining us on our Q2 FY27 earnings conference call. Q2 FY27 has been another strong quarter for United Foodbrands. The momentum we have built over the past several quarters has continued and the broad-based nature of our growth has deepened further. We are now in our fourth consecutive quarter of strong broad-based performance, and the business trajectory is looking very strong. I want to bring out 4 important points on how we think about this quarter and our performance. First, the business continues to operate at a new scale with structurally healthier unit economics. Our underlying operating model is working as anticipated, our customer acquisition engine continues to deepen and our restaurant level operating performance continues to strengthen. The strength we are seeing is not a function of any single quarter, but the cumulative outcome of multi-year journey that is now visibly delivering. Our mature portfolio continues to operate at a healthy restaurant operating margins, meaningfully above where we were a year ago. Second, the multi-engine portfolio continues to work as designed. Barbeque Nation India remains our anchor engine and continues to compound strongly. Our international business has demonstrated a meaningful growth this quarter, validating both the strength of our format and the operational discipline of our teams on the ground. Premium CDR continues to deliver healthy growth. With mature store unit economics holding strong, the portfolio diversification we have built over the last several years is now showing its value through consistency of performance across markets. 2 | United Foodbrands Limited United Foodbrands Limited Earnings Call Transcript Q2 & H1 FY27 Third, our captive demand architecture continues to deepen. Approximately 91% of our dine-in volumes continue to come from our own channels, that is our own app, our website and our reservation call center and walk-ins to our restaurants. This is structural feature of our business and it is a feature that is growing. The customer relationship we own directly, the engagement data we build on our own platform and the brand affinity we create with our guests are growing stronger every quarter and are the foundation of our business. Fourth, we are investing through this growth phase and continue to build for the future. We opened 9 new restaurants during the quarter, which reflects both on conviction in the business and the strength of our pipeline. We continue to fund our expansions primarily from our internal accruals, and we remain disciplined on site selection and underwriting standards. Our focus is on building a business that compounds from the long term, not optimizing for any single quarter. I would end with a note on our teams. The performance we are presenting today reflects consistent execution across our restaurants and our central functions. Our people have continued to deliver through a period of meaningful business transformation and this performance is a reflection of the culture and the discipline of our teams bring to this organization every day. I will now hand over to Rahul, who will walk you through the operational performance in detail. Thank you. Rahul Agrawal: Thank you, Kayum. Good evening, everyone, and thank you for joining today. I will walk you through the operating performance for the quarter, our financial performance and then our outlook for the year ahead. Q2 FY27 has been another strong quarter across every part of our business. Consolidated revenue for the quarter was INR429 crores, growing 40.9% year-on-year. Consolidated same-store sales growth came in at impressive 24.5%. Our growth continues to be entirely volume-led. Consolidated dine-in transaction volumes grew around 56% year-on-year, and our delivery business grew 47% year-on-year. Let me walk you through each of the segments of our business. Barbeque Nation India delivered another strong quarter. Same-store sales growth was 27.8%, revenue growth was 41.4% and dine-in transaction volume grew 60.8%. More importantly, the brand has now firmly established itself on 3 positioning anchors that is strong value for our guests, a trusted destination for celebration and group occasions and a well- built digital capability that owns the direct relationship with our guests. Our continued performance over the last 4 quarters is a reflection of this new operating identity and our focus is on building further from this base. Our digital investments continue to meaningfully deepen the quality and ownership of our demand. Approximately 85% of our business comes from dine-in, which continues to operate with strong unit economics. Within our dine-in business, mor [Showing first 8,000 characters — download PDF for full document]