Pricol Limited submitted the copy of con-call transcript

PL/SEC/TGT/2026-2027/114 Tuesday, 10th November 2026 Listing Department Corporate Relationship Department National Stock Exchange of India Limited BSE Limited “Exchange Plaza’, C-1, Block G 1st Floor, New Trading Ring Bandra-Kurla Complex, Rotunda Building, P J Towers, Bandra (E), Mumbai - 400051 Dalal Street, Fort, Mumbai 400 001 Scrip Code: PRICOLLTD Scrip Code: 540293 Dear Sir, Sub: Con-call Transcript Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we herewith submit the Transcript for the Con-call held on Thursday, 5th November 2026 at 04:00 PM (IST) pertaining to Company’s unaudited financial results for the quarter and half year ended 30th September 2026. This is for your information and records. Thanking you Yours faithfully, For Pricol Limited T.G.Thamizhanban Company Secretary ICSI M.No: F7897 Encl. As above PRICOL Limited Q2 H1 FY’2027 Earnings Conference Call November 05, 2026 Moderator: Ladies and gentlemen, good day and welcome to the PRICOL Limited Q2 H1 FY’2027 Earnings Conference Call hosted by Valorem Advisors. As a reminder, all participant lines will be in the listen-only mode. There will be an opportunity for you to ask questions after the presentation concludes. Should you need any assistance during this conference, please signal for an operator by pressing “*” and then “0” on your touchtone telephones. Please note that this conference call is being recorded. I now hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you and over to you ma'am. Purvangi Jain: Thank you. Good afternoon, everyone and a very warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the investor relations of PRICOL Limited. On behalf of the company and Valorem Advisors, I would like to thank you all for participating in the Company's Earnings Conference Call for the second quarter of the financial year 2027. Before we begin, let me mention a short cautionary statement. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risk and uncertainties, which could cause actual results to differ from those anticipated. Such statements are based on management's belief as well as assumptions made by and information currently available to the management. Audiences are cautioned not to place any undue reliance on these forward-looking statements in making any investment decisions. The purpose of today's earnings call is purely to educate and bring awareness about the company's fundamental business and financial quarter under review. I would now like to introduce you to the management team joining us on today's call. We have with us Mr. P.M. Ganesh – Chief Executive Officer and Executive Director, Mr. Siddharth Manoharan – Group Executive Director, Business Strategy, Ms. Madhura Mohan – Executive Director, Customer Relationship Management and ESG and Mr. Priyadarsi Bastia – Chief Financial Officer. Without any further delay, I request Mr. P.M. Ganesh to start with his opening remarks. Thank you and over to you, sir. P.M. Ganesh: Thank you, Purvangi. Good evening to all. Welcome to the Q2 earnings call. It is our pleasure in connecting with all of you once again. I am sure that you had some time to go through our uploaded presentation. So without any further waiting, let me go into the financial performance straight away. The Q2 financial performance, we have crossed more than a Rs. 1,000 crores in quarter 2. Rs. 1334.02 crores has been our revenue from operations. We are at an EBITDA margin of 11.82%. It could have been better. If you recall in the previous earnings call, we have explained that we continue to face very strong headwinds, primarily because of the rising input cost. This has been the condition even during Q1 and it is continuing in Q2 as well. Primarily because of three reasons: 1) One is the strong dollar appreciation against the rupee and rupee has been continuously weakening. And due to the large import content in our product, the bill of material cost has been rising. 2) Second, as we all know that the bare PCB cost has been continuously increasing, which is a major ingredient in the instrument cluster. Primarily because of the West Asia crisis. 3) And third is the memory cost increase which has gone up primarily because of surge in the AI. We expect these strong headwinds to continue for a few more quarters before everything gets settled down. Coming to the PAT: PAT has been at Rs. 85.21 crores. The margin is at 6.39%. On H1 performance for financial year 2027, our operation stands at Rs. 2417.60 crores with an EBITDA margin of 11.64%. The PAT stood at 6.30% with EPS at 12.49. Coming to the Quarter-on-Quarter comparison: Q2 for financial year 2027 when compared to the previous quarter of last financial year, the growth has been 35.03% in terms of revenue from operation. The EBITDA growth has been 27.87%. On a H1 performance basis when compared to the previous year, the growth has been 29.59% with an EBITDA growth of 24.95%. With this, I will hand over the mic back to Purvangi for the Q&A session. Thank you. Moderator: Thank you very much, sir. Ladies and gentlemen, we will now begin with the question and answer session. The first question is from the line of Rishabh Rathi from Goldman Sachs. Please go ahead. Rishabh Rathi: Good evening, sir, and thank you for taking my question. My first question is around the gross margin impact. If you look at the gross margin, it has declined 150 bps quarter-on-quarter. But on the EBITDA margin, we have been able to sustain roughly similar margins. I just wanted to understand has some pass-through happened already or otherwise if there was no gross margin impact, while the plants are still ramping up, what could have been the EBITDA margin percentage in 2Q? P.M. Ganesh: That is what I have mentioned. The input material cost has been continuously going up because of the three factors, whatever I just mentioned during the opening remark. And this is expected to continue for at least a few quarters before it is getting normalized. And that is the reason why you find that the EBITDA level is lower than the growth, whatever we approach in terms of the top line. Rishabh Rathi: Could some settlement happen in 3Q or 4Q? P.M. Ganesh: Yes, actually, many of the cases we have already taken up with our customers, and customers are evaluating that. But as you know that there are new contents in the rising cost, primarily bare PCBs and memory cost and sharp increases in the labor cost. These things are something that the customers are evaluating because these are first-time rising costs. So you know customers also cannot pass on all the increases into the market. So this is currently under evaluation and discussion with our customers. And hopefully, we should be in a position to conclude it during the next quarter. But however, we expect that we would not be in a position to 100% recover from the customers, considering that everything the customer also cannot pass on to the end customer. Rishabh Rathi: Right. And just for clarification, PCBs and semiconductor would not form a large part of our build of material right? Could the impact be somewhere around 10 bps to 20 bps, or could it be larger than that? P.M. Ganesh: See, I would not be in a position to give you the exact breakup detail, but bare PCBs do have a major content in the build-off material. I would also request that one question at a time, and then maybe you can join the queue for further questions, please. Rishabh Rathi: Got it. Thank you. Moderator: Thank you. The next question is from the line of Hitesh Goyal from Origin Capital. Please go ahead. Hitesh Goyal: Thanks for taking my question. Sir, can you give us the growth rates in the DIS business, ACFMS and plastic business separately in this quarter? P.M. Ganesh: We have overall, Hitesh, grown by 35%, okay? And all the [Showing first 8,000 characters — download PDF for full document]