Analysts/Institutional Investor Meet/Con. Call Updates

November 10, 2026 To, To, National Stock Exchange of India Limited BSE Limited Listing Department Listing Department Exchange Plaza, C-1 Block G, Corporate Relationship Department Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra [E], Mumbai – 400051 Dalal Street, Fort, Mumbai - 400 001 NSE Scrip Symbol: DHOOTTRANS BSE Scrip Code: 544867 ISIN: INE01NH01023 ISIN: INE01NH01023 Sub: Transcript of the Conference Call with Investors and Analysts : Q2 FY2026-27 Earnings Call Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir / Madam, Please find enclosed transcript of the Q2 FY 2026-27 Earnings Call held on Tuesday, November 3, 2026, in respect of the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026. The above information is also being uploaded on the website of the Company at www.dhoottransmission.com. We request you to kindly take the same on record. For and on behalf of Dhoot Tr/a nsmission Limited /A mey Jogas Company Secretary and Compliance Officer Membership No.: A39922 Dhoot Transmission Limited (J=ormcrly known as Dhoot Tran!:mlssion Private Limited) Registered Office: Gut No. 312, Nanekarwadi, Chakan, Tq. Khed, Dist. Pune -410501, MH, India Corporate Office: Gut No. 102, Farola Ill, Paithan Road, Chh. Sambhajinagar (erstwhile Aurangabad) -43110S, MH, India +91 2431 251446, 2735 660781 IE) sales@dhoottransmission.com im www.dhoottransmission.com CIN NO -l37300PN1998PLC131629 ISO 9001:2015, ISO 14001:2015, IATF16949:2016, ISO 45001:2018 Dhoot Transmission Limited Earnings Conference Call Q2 & H1 FY 2027 November 03, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q2 and H1 FY 2027 Earnings Conference Call of Dhoot Transmission Limited. As a reminder, all participant lines will be in the listening 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 ‘*’ and then ‘0’ on your touchtone phone. The Management of Dhoot Transmission Limited is represented by Mr. Rahul Dhoot - Managing Director, Mr. Naveen Kumar - CEO, India (Wiring Harness and Electronics) and Mr. Nitin Kalani - Group CFO. Please note, this conference is being recorded. At this time, I would like to hand over the conference to Mr. Rahul Dhoot. Thank you and over to you, sir. Rahul Dhoot: Hi, a very warm welcome to all of you today. I am Rahul Dhoot – Founder and Managing Director for Dhoot Transmission. In the 2nd Quarter, the automotive industry saw another strong volume growth performance. For the two-wheeler industry, the last quarter was one of the best quarters with 16% growth. Comparing Y-o-Y performance for the quarter, domestic EV industry grew in excess of 100% and ICE in excess of 10%. Export for two-wheeler grew about 28% as per CM data. Against the same, Dhoot Transmission saw a very strong growth of 60% on Y-o-Y basis. Revenue from wiring harness grew 44.6%, Y-o-Y and from non-wiring harness business by 124%. Multilink acquisition contributed to about Rs. 160 crores during the quarter. EV revenue in the same quarter grew 108% for us and with this, the overall contribution of EV revenue has now reached 31% of our total sales, up from 27% in Q1 and from 24% of FY 2026. We have started ramping up volume for the powertrain battery with our new South India-based customer. I am happy to inform you that in spite of the hard cycle of commodities, our organic adjusted EBITDA margins remained consistent at 15.2%. Reported EBITDA margins after considering 0.5% ESOP impact and Multilink consolidation is 14.3%. We expect Multilink margins to improve after the completion of integration. Pre-exceptional PAT for the quarter is at Rs. 162 crores, which is an increase of 30% over the same quarter last year. Other than this, we have fully repaid the debt which was to be repaid out of IPO proceeds and our net cash, bank and FD balance is at Rs. 900 Page 1 of 12 crores, which is in line with our expectations. During the first 6 months, we added two battery manufacturing plants, one in South and one in West. Both of them have commenced production. Our new wiring harness plant at Chhatrapati Sambhajinagar got functional and we are already running at full capacity in that plant. We expect the CAPEX for the year to exceed our initial expectations as the industry has surprised us positively on the growth and provided opportunities. The opportunities have led us to consider incremental investments in the capacities and acceleration of those. As a result, our new CAPEX guidance for the year would be around Rs. 750 crores. Also, our collaboration with RideVision is progressing well and we are exploring various business opportunities with various customers. We expect to share more updates in the next quarter on this. Our NPD pipeline continues to be robust. Talking about the outlook, electrification trend is aiding growth to wiring harness and non- wiring harness business for us. To add to this, the addition of customers and products will also be a strong positive in the years to come. On an overall basis, considering all positives, we revise our growth guidance for this year from 30% to more than 40%. With this, we are happy to answer all the questions. Thank you. Moderator: Thank you very much. We will now begin with the question and answer session. Your first question comes from the line of Nitin Arora with Axis Mutual Funds. Please go ahead. Nitin Arora: Hi sir. Good evening. Thanks for taking my question. Based on your CAPEX guidance, which is increased, can you… So, the question is on the CAPEX side, which you have upsized for this year, can you throw some light? Is it predominantly for the EV wiring harness, high voltage? Or is it also towards ICE? If you can just throw some light, how are you thinking about this CAPEX? Or some new plants related to Multilink? So that was the first question. Please go ahead, sir. Rahul Dhoot: Yes. Hi Mr. Nitin. Rahul here. See the point is that, as earlier, we had told you that we are looking at probably a 20% - 25% growth on the EV side. But the 100% growth which has come in, was not expected. And the customers are still very bullish on it. We have got quite a lot of guidance on next year volumes. And we have to be ready for those volumes. And this is across all our product verticals, whether it is wiring harnesses on the ICE side, EV side, whether it is on the battery manufacturing side, whether it is on the electronic side, or on the Multilink side. So basically, if we do not increase our capacities, we are already running at full capacity. And we need to look at better years, in terms of capacity in the time to come. So, this is the reason why we have grown on the CAPEX. Nitin Kalani: And Nitin, just to add a little bit of facts numerically, slide number 10, if you would have seen, we are commencing additionally five plants in the next 12-month time period, which includes advancement of the CAPEX, which is to be incurred on the two IPO-funded plants, plus additionally, we are leasing two new plants, one in Pune and one in Chennai and we are also Page 2 of 12 building one additional, we are also renting one more additional plant in Jhajjar. So, there will be like five new plants, which we will be building over the next 12-month time period. In addition to that, we are also investing on the electronics manufacturing capability for the Multilink business and I would say a couple of new products are under development. So there also, we will be investing certain money, which will start flowing in this year only. Nitin Arora: Got it. Just one, sir, your comment on profitability, because gross margin, you have been maintained very well, despite such huge commodity thing. How we should think about this profitability going ahead? If this quarter has been maintained on [Showing first 8,000 characters — download PDF for full document]