Attached herewith is the transcript of Earnings Call held on November 04, 2026

Divgi TorqTransfer Systems Limited Divgi TorqTransfer Systems CIN: L32201MH1964PLC013085 75, General Block, MIDC, Bhosari, Pune 411 026, India Tel: (+91-20) 63110110 Web: www.divgi-tts.com Ref.: DTTS/Sec/26-27/66 November 10, 2026 To, To, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, "Exchange Plaza" 5th Floor, Dalal Street, Mumb ai - 400001 Plot No. C-1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 BSE Scrip Code – 543812 NSE Scrip Code - DIVGIITTS Sub: Transcript of Earnings Call held on November 04, 2026 Ref.: Regulations 30 of the SEBI LODR Regulations Dear Sir / Madam, Further to our letter reference no. DTTS/Sec/26-27/57 dated October 28, 2026, pursuant to Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”), please find enclosed herewith the transcript of the Earnings Conference Call held on November 04, 2026, in respect of the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026. The transcript can also be accessed on the Company’s website at the following link: https://divgi-tts.com/earning-call-transcripts/ This is for your information and records. Thanking you, For Divgi TorqTransfer Systems Limited Hirendra Divgi Whole-Time Director DIN: 01634431 Enclosed: As above “Divgi TorqTransfer Systems Limited Q2 FY27 Earnings Conference Call” November 04, 2026 MANAGEMENT: MR. JITENDRA DIVGI – MANAGING DIRECTOR – DIVGI TORQTRANSFER SYSTEMS LIMITED MR. HIRENDRA DIVGI – WHOLE TIME DIRECTOR – DIVGI TORQTRANSFER SYSTEMS LIMITED MR. SUDHIR MIRJANKAR – CHIEF FINANCIAL OFFICER – DIVGI TORQTRANSFER SYSTEMS LIMITED MR. DIPAK VANI – CHIEF OPERATING OFFICER – DIVGI TORQTRANSFER SYSTEMS LIMITED MR. SATVINDER SINGH SABHARWAL – CHIEF GROWTH OFFICER – DIVGI TORQTRANSFER SYSTEMS LIMITED MODERATOR: MR. RONAK JAIN – EQUIRUS SECURITIES PRIVATE LIMITED Page 1 of 19 Divgi TorqTransfer Systems Limited November 04, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Divgi TorqTransfer Systems Limited Q2 FY27 Earnings Conference Call hosted by Equirus Securities 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 touch-tone phone. Please note that this conference is now being recorded. I now hand the conference over to Mr. Ronak Jain from Equirus Securities Limited. Thank you, and over to you, sir. Ronak Jain: Good afternoon, everyone. On behalf of Equirus Securities, I welcome you all to Q2 and H1 FY27 Post Results Call of Divgi TorqTransfer Systems Limited. From the management side, we have Mr. Jitendra Divgi, Managing Director; Mr. Hirendra Divgi, Whole-Time Director; Mr. Sudhir Mirjankar, CFO; Mr. Satvinder Singh Sabharwal, Chief Growth Officer; and Mr. Dipak Vani, COO. I will now hand over the call to Jitendra sir, for his opening remarks. Over to you, sir. Jitendra Divgi: So good afternoon, ladies and gentlemen. On behalf of Divgi TorqTransfer Systems Limited, I welcome everybody that has taken the time and the interest to come here today, our shareholders, investors, analysts for this earnings call of the second quarter and first half of financial year '27. I trust you've had the opportunity to review the results we've posted. Before starting, I'd just like to take a moment to extend my best wishes to all of you and your families for the Diwali festive season. Just a point for the record that this discussion may include forward-looking kind of projections and actual outcomes may differ because of market customer execution and other risks described in our presentation. So I'd like to open by touching upon the significance of this quarter that has just gone by. As you would all appreciate, this was an important milestone for all of us at Divgi. We delivered a total revenue of almost INR150 crores, INR148.7 crores to be precise, which was an increase of 68% over the corresponding quarter for last year. EBITDA reached almost INR44 crores, growing 99%, while Profit After Tax reached INR26 crores, growing approximately 146%. The EBITDA margin was 29.5%. These are meaningful outcomes, but I would encourage all of us to look beyond the headline numbers. This performance reflects several years of investment in products, technology, customer engagement, manufacturing capability and disciplined execution. They also reflect the strength of a business model in which operating leverage can become increasingly visible as volumes and scale build up. One aspect of this quarter deserves emphasis. Our performance I think, is not dependent on a single short-term event. It is a result of multiple operational programs moving forward in concert. Our established transfer case platforms are contributing greater scale. The EV transmission business is showing improved activity and components and exports are broadening our earnings base. Page 2 of 19 Divgi TorqTransfer Systems Limited November 04, 2026 For investors, the strategic significance lies in this combination. A company with several relevant drivetrain capabilities can engage customers at more points in their product planning cycle, and it can reduce reliance on the timing of any one program. This diversification is to be sure, is still a work in process, but the first half performance provides evidence that the model is beginning to take shape. Equally, we recognize that the Automotive Industry is cyclical. OEM production schedules, model launches, export demand, supply chain conditions and changes in technology can all affect performance. We, therefore, evaluate progress not only by revenue growth but also by quality of delivery, customer approvals, cost competitiveness and the ability to convert program activity into sustainable returns. Our objective is to build a business that can participate in market growth while retaining the operating discipline required through different industry cycles. Let me now shift gears and make a few introductory remarks on the half year gone by. So for the first six months of FY27, total income was INR290 crores, up 76%, EBITDA was at INR85 crores, up 108% and PAT almost at INR52 crores, up 162%. The half year EBITDA margin of over 29% is particularly encouraging. This combination of growth and profitability is important to us. We are not pursuing scale for its own sake. Our objective is to build a larger, more diversified drivetrain systems company while retaining engineering depth, operating discipline and capital efficiency. We have made progress in the first half while recognizing that each business has its own demand cycles and execution requirements. What drove this progress? To me, three themes that stand out. First, of course, is the transfer case business, which has continued to benefit from strong demand, platform refreshes and the Indonesia program. Second, our EV transmission business saw a marked improvement in the second quarter after a softer first quarter, reflecting improving customer schedules and broader EV adoption, especially against the backdrop of uncertain geopolitics and its potential impact on oil. Third, components and exports continue to provide an expanding source of revenue, supported by global customer relationships and successful execution of awarded programs. This matters because our growth is no longer dependent on a single application or a single geography. It is developing across multiple product families and end markets. A word about Indonesia, and I would be remiss if I did not address the elephant in the room. The Indonesia 4x4 program is a useful illustration of the direction of our business. It demonstrates our ability to support an Indian automotive customer or customers as their vehicle pl [Showing first 8,000 characters — download PDF for full document]