Transcript of the Q2 & H1 FY''27 Earnings Call held on Thursday, November 5, 2026

KRISHIVAL FOODS LIMITED CIN No. L74120MH2014PLC254748 Registered Office: 1309, Lodha Supremus Saki Vihar Road, opp. MTNL Office, Powai, Mumbai-400072. Tel no.: 8779558264, Website: www.krishival.com, Email: cs@krishival.com November 9, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex P J Towers, Dalal Street Bandra (E), Mumbai-400051 Mumbai - 400 001 Symbol: KRISHIVAL Scrip Code: 544416 Subject: Transcript of the Q2 & H1 FY'27 Earnings Call held on Thursday, November 5, 2026 Dear Sir/Madam, Pursuant to Clause 15 (b)(i) of Schedule III, Part A, Para A read with Regulation 30 (2), Regulation 30 (6), Regulation 46(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are hereby submitting the transcript of the Earnings Conference Call held on Thursday, November 5, 2026, to discuss the unaudited financial results of the Company for the quarter and half year ended September 30, 2026 (Q2 & H1 FY'27). The same is also uploaded on the website of the Company at: https://krishival.com/pages/investors- desk You are requested to take note of the same. Thanking You, For Krishival Foods Limited Rahul Gawande Company Secretary and Compliance Officer “Krishival Foods Limited Q2 & H1 FY27 Earnings Conference Call” November 05, 2026 E&OE: This transcript is edited for factual errors. In case of discrepancy, the audio recording uploaded on the stock exchanges on November 5th 2026, will prevail. MANAGEMENT: MR. SUJIT BANGAR – CHAIRMAN – KRISHIVAL FOODS LIMITED MR. NANA MHASKE – CHIEF EXECUTIVE OFFICER – KRISHIVAL NUT AND DRY FRUIT DIVISION MR. ABHISHEK PURANIK – CHIEF EXECUTIVE OFFICER – MELT N MELLOW ICE CREAM DIVISION MR. VIVEK KUMAR JAIN – CHIEF BUSINESS OFFICER – KRISHIVAL FOODS LIMITED Page 1 of 16 Krishival Foods Limited November 05, 2026 Moderator: Ladies and gentlemen, good day and welcome to Q2 and H1 FY27 Earnings Conference Call of Krishival Foods 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 the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. Today we have with us Mr. Sujit Bangar, Chairman, Krishival Foods Limited, Mr. Nana Mhaske, CEO Krishival Nut and Dry Fruit Division, Mr. Abhishek Puranik, CEO, Melt N Mellow Ice Cream Division, and Vivek Kumar Jain, CBO, Krishival Foods Limited. We will now begin with opening remarks from the management followed by an interactive Q&A session. Please note that this discussion may include forward-looking statements, which should be viewed in conjunction with the risks and uncertainties that the company faces. I now hand the conference over to Mr. Sujit, sir. Thank you, and over to you. Sujit Bangar: Thank you. Thank you very much. A very good morning to all of you. On behalf of management of Krishival Foods Limited, I welcome you all to our Quarter 2 and first half for the current financial year, and that is 2026-'27 earnings conference call. Thank you for taking the time to join us today. I hope you have had an opportunity to go through our media release and presentation and financial results which have been shared with the exchanges already. Today I will take you through company's business performance, key operational developments during the quarter, and our priorities for the coming period. We'll talk about the overall business overview of the nuts and ice cream, both the segments of Krishival Foods. Krishival Foods is building a diversified consumer-focused food platform through two complementary businesses, healthy snacks through this Krishival Nuts and ice cream and desserts through Melt N Mellow. So Krishival Nuts focuses on market for premium nuts, dry fruit, healthy snacking, while Melt N Mellow operates in an ice cream and dessert segment. Broader consumer market is evolving with consumers increasingly balancing affordability with premiumization. Product quality, taste, nutrition, convenience, and differentiation are becoming important factors influencing purchasing decisions. We believe this presents opportunities across both of our businesses. Our focus is on offering products across different price points, strengthening our brands, and expanding our distribution reach to address a wider consumer base. We'll now speak about business updates for our nuts and dry fruits division. We call it a healthy snacking division. Starting with our nuts business, we continue to focus on strengthening our sourcing capabilities, expanding our product portfolio, and improving our manufacturing infrastructure. Our integrated operations include grading, roasting, flavoring, packaging, enabling us to maintain quality and consistency across our product range. Page 2 of 16 Krishival Foods Limited November 05, 2026 In May 2026, we have added 10 metric ton finished kernel production capacity to the existing capacity of 10 metric ton finished kernel production per day, overall taking our total installed finished nuts production capacity to 20 metric tons per day. Going forward, we intend to gradually ramp up utilization of this expanded capacity. As outlined in our roadmap as presented in our investor presentation, we are targeting further capacity addition with the objective of reaching 40 metric tons finished kernel production per day by FY28. On the product side, we continue to strengthen our presence across different consumer segments. Our portfolio includes flavored cashews, almonds, pistachios, makhana, and other exotic nuts and other healthy snacking options. We are also expanding our affordable on-the-go offering through INR20 MRP range which include trail mixes, cereal mixes, salted nuts, mixed assorted nuts, roasted almonds, and assorted mixes. Our approach is to address both value-conscious and premium consumers through a differentiated portfolio. We believe that growing awareness around nutrition, convenience, and branded packaged products provides an opportunity to expand our presence in the organized nuts and healthy snacking market. Alongside general trade, we continue to strengthen our presence across modern trade, e-commerce, quick commerce channels, enabling us to improve consumer accessibility and expand our market reach. Our priorities remain strengthening distribution, improving capacity utilization, and building a wider portfolio of quality products. Now we'll talk about our another segment, that is ice cream, which is under the brand Melt N Mellow. In Melt N Mellow, this segment continues to expand its distribution network and strengthen its presence across the markets. As of end of Quarter 2 FY27, our deep freezer network stood at 18,752 units with the target of reaching to 27,000 deep freezers by the end of this financial year. While our products are available across 35,000 plus retail touch points across Maharashtra, Goa, Karnataka, Telangana, Andhra Pradesh, and newly recently in this quarter Tamil Nadu. During the quarter, we added 85 new distributors taking overall distributor count to 205. We have also maintained a distributor retention rate of approximately 95%, means, if we have 100 distributors, the churning is only among the 5 -- for 5 distributors. So 95% is the retention rate in the distributors. That is one of the key strengths of our distribution network, and this also reflects the strength of team with distributors and the ecosystem. Our network currently operates through 13 depots, supporting our efforts to improve market reach and product availability. Geographically, we continued our expansion in Tamil Nadu adding new locations including Vellore, Hosur, Erode, Tiruvannamalai, and Salem and adjoining area. In Andhra Pradesh, already as mentioned in the last quarter, we have ensured our distribution through C&F locations covering Rayalaseema, Vijayawada, and Visak [Showing first 8,000 characters — download PDF for full document]