Analysts/Institutional Investor Meet/Con. Call Updates

Birla Corporation Limited Corporate Office: 1, Shakespeare Sarani, A.C. Market (2nd Floor), Kolkata 700 071 P: 033 6603 3300-02 F: +91 332288 4426 E: Coordinator@birlacorp.com 28th July, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, ‘Exchange Plaza’, C-1, Block G, Dalal Street, Bandra-Kurla Complex, Bandra (East), Mumbai- 400 001 Mumbai- 400 051 Scrip Code: 500335 Scrip Symbol: BIRLACORPN Dear Sir(s), Sub: Transcript of the investors/analyst conference call on the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June, 2026 Pursuant to the provisions of Regulation 30 read with Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the transcript of the investors/analyst conference call held on 25th July, 2026 at 3.30 P.M. (IST) on the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June, 2026. The event concluded at 4.17 P.M. (IST) on 25th July, 2026. A copy of the same is also available on the Company's website at https://birlacorporation.com/earnings-call-transcript.html. This is for your information and record. Thanking you, Yours faithfully, For BIRLA CORPORATION LIMITED (MANOJ KUMAR MEHTA) Company Secretary & Legal Head Encl: As above Registered Office: Birla Building, 9/1 R. N. Mukherjee Road, Kolkata-700001 | CIN: L01132WB1919PLC003334 | | www.birlacorporation.com| P: 033 6616 6745/6826; +91 33 2248 2872/7983 “Birla Corporation Limited Q1 FY27 Earnings Conference Call” July 25, 2026 MANAGEMENT: MR. SANDIP GHOSE –MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – BIRLA CORPORATION LIMITED MR. ADITYA SARAOGI – GROUP CHIEF FINANCIAL OFFICER - BIRLA CORPORATION LIMITED MR. RAJAT PRUSTY – CHIEF OF MANUFACTURING AND PROJECTS – BIRLA CORPORATION LIMITED MR. KALIDAS PRAMANIK – CHIEF MARKETING OFFICER – BIRLA CORPORATION LIMITED MODERATOR: MR. RAJESH KUMAR RAVI – HDFC SECURITIES Page 1 of 12 Birla Corporation Limited July 25, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Birla Corporation Limited Q1 FY27 Earnings Conference Call hosted by HDFC Securities. As a reminder, all participant lines will remain 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 the operator by pressing "*" then "0" on your touchtone telephone. Please note that this conference is being recorded. I will now hand the conference over to Mr. Rajesh Kumar Ravi from HDFC Securities Limited for opening remarks. Thank you and over to you, Rajesh. Rajesh Kumar Ravi: Thanks, Ryan. Good afternoon everyone. On behalf of HDFC Securities, we welcome you all to the earnings call of Birla Corporation Limited for Q1 FY27. On behalf of the management, we have Mr. Sandip Ghose, MD and CEO, and Mr. Aditya Saraogi, Group CFO, including other senior members of the management team. I now hand over the call to the management team for their opening remarks, which will be followed up by the Q&A. Over to you, sir. Sandip Ghose: Very good afternoon and thanks all of you for joining on a late Saturday afternoon on the weekend as the weekend is starting. The results are already should be before you, the press release is out, we have informed the stock exchange. This quarter, I would say that we have been to some extent, you know, victim of our own success as I'll explain why I say that, because we had over a period of time maxed out on our trade sales, trade volumes and blended cement volume. Which unfortunately, that segment did not see any significant price increase, in fact they saw bit of a price rollback in the last month of the quarter, whereas the real gains have come during this period from the non-trade segment, industrial segment and OPC, which is again not our strong suit as a matter of strategy we have defocused from OPC because our capacity is as you know very high level of capacity utilization, so we focus primarily on blended. So the blended overall in the industry scenario since the blended cement realizations didn't go up as much as didn't go up at all in comparison to the non-trade, which showed significant recovery in most markets, especially North and even in the Center, our relative realization was lower than what was anticipated. We had expected that some amount of price correction will happen during the quarter and especially since demand was pretty buoyant from the middle of May and June, but we were surprised that the reluctance on part of players to pass it on to the market, they instead focused on correcting their non-trade and OPC prices and letting not really touching the trade prices where the gap certainly came down, but overall price levels were, I don't want to get into what is our reading of that, but this affected us most in Central India. Unfortunately, Central India for whatever reason the prices have remained soft practically for the last one year, I would say, because of competition dynamics. And since over a period of time Page 2 of 12 Birla Corporation Limited July 25, 2026 again our dependence on Central India or dependence or dominance in Central India is very high and it has in fact increased further with the commissioning of Kundanganj Line 3, this I wouldn't say hurt us, but we could not be beneficiary of the increases which were seen in say for example North and certainly in the East, which as I see the reports of the many companies, the East-based companies coming through, there has been people have seen a major spurt in profitability over there, but we have a very small presence as you know in the East, so we didn't benefit on that. Maharashtra is the same story, we have been doing going in Mukutban our maintaining the volumes, in fact changing our product mix to get into more proximate markets, we don't want to go all the way up to Bombay etc. except for the high value OPC 53, which is sold in that market, we sell bit of that, we are trying to focus on the closer geography. But we could have or we would like to ramp up the production further, we have headroom for it. In the last quarter, there were sporadic disturbance on logistics as you know for the availability of diesel and trucks etc. that area there were periods when there were dislocation in logistics, so we lost out some volumes over there, so there could have been additional volume gain in that in Mukutban, which remains a opportunity area for us going forward, we think we will be able to take advantage of that. Now, I wouldn't like to we'll come back to our outlook of the second quarter and the rest of the year, which you know most of the industry players who have declared their results have already spoken there on that. We have certain other marketing plans which will be we shall share with you in other right time, which we are looking at given the constraints as I said of the Central region prices remaining where they are and if this continues, if the bigger players do not show any interest in raising the trade prices, we have to also revisit some of our strategy, which we have thought, but that will depend on how the market pans out. In terms of costs, I think in terms of our estimate, we have managed the costs reasonably well given our again our geographic spread, our dependence on pet coke being where it is a lower in terms of replacing some places we do have limitations in terms of using domestic coal, which some players have done and been able to again on a relative basis from their initial base they have been able to bring down, so for us that has that has not been significant. We have been hurt in again on the petroleum front and our mechanical mining which happens in Rajasthan, there are because of diesel costs etc. some of that has added to our cost basis, but overall in terms of our assessment, i [Showing first 8,000 characters — download PDF for full document]