Earnings Call Transcripts for the quarter ended September 30, 2026.

SECY/S.E./2026-27 November 10, 2026 BSE Limited Department of Corporate Services Phiroze Jeejeebhoy Towers, 25th Floor, Dalal Street, Mumbai – 400 001 Scrip code: 506854 Dear Sir/Madam, Sub: Earnings Call Transcripts Pursuant to Regulations 30 and 46(2)(oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform the Exchange that the transcript of the Company’s Analyst/Investor Conference Call held on November 03, 2026, to discuss the Unaudited Financial Results for the second quarter and half year ended September 30, 2026, is attached herewith. The transcript is also available on the website of the Company: https://tanfac.com/investors/investor-information/calls-conferences-and-transcripts Kindly take the same on record. Thanking you, Sincerely yours, For TANFAC Industries Limited Vinod Kumar S Company Secretary & Compliance Officer Enclosure: As above TANFAC INDUSTRIES LIMITED (Joint Sector Company with TIDCO and Anupam Rasayan India Ltd.) Registered Office & Factory: 14, SIPCOT Industrial Complex, Cuddalore – 607 005, Tamil Nadu, India Tel: + 91 4142 239001 – 05| Fax: + 91 4142 239008 | Website: www.tanfac.com Chennai Office: Oxford Centre, 1st Floor, 66, Sir C.P. Ramaswamy Road, Alwarpet, Chennai 600 018, TN, India Tel.: +91-44-2499 0451/0561/0464 Fax: +91-44-2499 3583 GST: 33AAACT2591A1ZU | CIN: L24117TN1972PLC006271 “TANFAC Industries Limited Q2 FY27 Earnings Conference Call” November 03, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchanges on 3rd November 2026 will prevail. MANAGEMENT: MR. AFZAL MALKANI – MANAGING DIRECTOR – TANFAC INDUSTRIES LIMITED MR. HEMANGO GUPTA – CHIEF EXECUTIVE OFFICER – TANFAC INDUSTRIES LIMITED MR. N.R. RAVICHANDRAN – PRESIDENT AND CHIEF FINANCIAL OFFICER – TANFAC INDUSTRIES LIMITED Page 1 of 19 TANFAC Industries Limited November 03, 2026 Moderator: Ladies and gentlemen, good day, and welcome to TANFAC Industries Limited Q2 FY27 Earnings Conference Call. 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. This conference call may contain forward-looking statements about the company, which are based on beliefs, opinions and expectations of the company as on the date of this call. These statements are not the guarantees of future performance and it may involve risks and uncertainties that are difficult to predict. I would now like to hand the conference over to Mr. Afzal Malkani, Managing Director of TANFAC Industries Limited. Thank you, and over to you, sir. Afzal Malkani: Thank you. Good morning, everyone, and a very warm welcome to TANFAC Industries Q2 and H1 FY27 Earnings Call. Joining me today are Mr. Hemango Gupta, our Chief Executive Officer; Mr. N. R. Ravichandran, our President and Chief Financial Officer; and SGA, our Investor Relations advisers. The first half of FY27 has been an important period for TANFAC. As we continue to make progress on our growth initiatives while navigating a challenging external environment. We are pleased to announce that Q2 FY27 was a landmark quarter for TANFAC as the company achieved its highest ever quarterly revenue of approximately INR230 crores, growing 37% Y- o-Y. For the first half, revenue grew by 21% to approximately INR418 crores. Despite elevated raw material prices, higher energy costs and ongoing geopolitical uncertainties, we delivered healthy revenue growth, supported by an expanding product portfolio and stronger customer relationships. This performance is encouraging and reflects the progress we are making in expanding our business across existing and newer fluorochemicals applications. During the quarter, we increased our solar grade DHF manufacturing capacity from 20,000 metric ton per annum to 25,000 metric ton per annum through debottlenecking, representing a 25% increase in installed capacity by incurring nominal capital expenditure. We have added few new products in our fluorinated inorganic fluorides portfolio, expanding our offering to existing and new customers. These developments reflect our continued focus on diversifying our product offering and serving broader range of industrial applications. As these products are still in the early stages of commercialization, we remain focused on scaling up production, enhancing operational efficiencies and improving capacity utilization. On the gross margin front, in our AHF business, our gross profit per ton has remained largely stable. The moderation in gross profit margin percentage is primarily attributable to higher product realizations, which have increased the revenue base and consequently lowered the margin percentage despite stable gross profit per ton. Page 2 of 19 TANFAC Industries Limited November 03, 2026 While elevated sulphur prices have impacted input costs, we are beginning to see signs of price moderation, which is encouraging. Additionally, the initial ramp-up phase of certain newly introduced products where gross margins are yet to reach their optimal levels, we remain focused on improving cost pass-through, optimizing operating efficiencies and scaling up newly introduced products. As these products achieve higher volumes and raw material price recede, we expect profitability to improve progressively. Another important area of focus during the quarter was raw material procurement and supply chain management. Given the ongoing geopolitical developments in West Asia and the potential risk of disruption to international supply chains, we undertook bulk procurement of critical raw materials, primarily fluorspar towards the end of the quarter, leading to a higher-than-normal working capital. This was a precautionary measure to ensure adequate raw material availability and continuity of operations. We also continue to strengthen our supplier relationships and procurement practice while maintaining a close focus on operational efficiency and cost optimization. Moving to another key development, I'm pleased to share that we successfully completed our preferential issue of approximately INR100 crores in September '26, including an investment of approximately INR61 crores from our promoter, Anupam Rasayan. With this, following our INR250 crores QIP completed in June, we have raised approximately INR350 crores during the first half of FY27. The successful completion of this fund raise has further strengthened our financial positions and provides us with greater flexibility to support our ongoing expansion plans and future growth initiatives. On the strategic front, our upcoming HFC-32 refrigerant gas project continues to progress as scheduled with target commissioning in Q3 FY27. This remains one of our most important near-term growth initiatives and marks a significant step in our downstream expansion journey. Looking ahead, we expect the second half of FY27 to deliver a strong performance than the first half, supported by the scale-up of newly introduced products, improved operating leverage and anticipated moderation in raw material prices. Further, the commencement of commercial production from our refrigerant gas project is expected to provide an additional growth driver towards the end of the financial year. With that, I invite our CEO, Mr. Gupta, to share his perspective on our fluorinated product portfolio, emerging opportunities and product development initiatives. Thank you, and over to you, Mr. Gupta. Hemango Gupta: Thank you, Mr. Malkani. Good morning, everyone. I will take you through some of the developments and the demand we are seeing across our key applications, our product development initiatives and the progress on the HFC-32 project. We see opportunities wherein fluori [Showing first 8,000 characters — download PDF for full document]