Analysts/Institutional Investor Meet/Con. Call Updates

November 11, 2026 BSE Limited, National Stock Exchange of India Limited, 20th Floor, P.J. Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 544595 Scrip Symbol: ORKLAINDIA Dear Sir / Madam, Subject: Transcript of the Earnings Conference Call with Analysts/ Investors on the financial results for the quarter and half year ended September 30, 2026 Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), please find enclosed the transcript of the Earnings Conference Call on unaudited financial results for the quarter and half year ended September 30, 2026, conducted after the meeting of the Board of Directors held on Wednesday, November 04, 2026. The Transcript is made available on the website of the Company at: https://www.orklaindia.com/governance/stock-exchange-intimations/earnings-call-updates/2026-27/ We request you to take this on record and treat the same as compliance with the applicable provisions of the SEBI Listing Regulations. Thanking you. For Orkla India Limited (Formerly known as Orkla India Private Limited) Kaushik Seshadri Company Secretary and Compliance Officer Encl.: as above ORKLA INDIA LIMITED (Formerly known as “Orkla India Private Limited”) Registered Office: No. 1, 2nd & 3rd Floor, 100 Feet Inner Ring Road, Ejipura, Ashwini Layout, Vivek Nagar, Bengaluru - 560 047, India CIN: L15136KA1996PLC021007 | T: +91 80 4081 2100/7 | Website: www.orklaindia.com | E-mail: contactus@orklaindia.com “Orkla India Limited Q2 FY27 Earnings Conference Call” November 04, 2026 MANAGEMENT: MR. SANJAY SHARMA – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER MS. SUNIANA CALAPA – CHIEF FINANCIAL OFFICER MR. SIDDHARTH BORKAR – AVP-, M&A AND INVESTOR RELATIONS MODERATOR: MR. ASHUTOSH JOYTIRADITYA – ICICI SECURITIES LIMITED Page 1 of 16 Orkla India Limited November 04, 2026 Moderator: Ladies and gentlemen, good day and welcome to Orkla India Limited Q2 FY27 Earnings Conference Call, hosted by ICICI 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 touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Ashutosh Joytiraditya from ICICI Securities Limited. Thank you and over to you, sir. Ashutosh Joytiraditya: Yes, thank you, Rutuja. On behalf of ICICI Securities, I warmly welcome everyone to Orkla India Limited's Q2 FY27 earnings call. I will now turn the session over to Mr. Siddharth Borkar to lead the discussion. Thank you and over to you, Siddharth. Siddharth Borkar: Thank you, Jyotiraditya, for hosting us. Hello and welcome everyone to the Q2 FY27 results for Orkla India. I am Siddharth Borkar, Head of M&A and Investor Relations. At Orkla India. I am joined by Mr. Sanjay Sharma, Managing Director and CEO at Orkla India, and Ms. Suniana Calapa, CFO at Orkla India. I hope you have gone through the investor presentation and other materials that we have uploaded. In today's call, we will walk you through some of the key highlights of the quarter, and then we'll open the floor for Q&A. I would want to draw your attention to the disclaimer slide as stated in our earnings presentation. With that, I hand it over to Sanjay. Sanjay Sharma: Thank you, Siddharth, and a very good evening, everyone, and thank you for joining us. I am Sanjay Sharma, Managing Director and CEO for Orkla India, and I'm also joined by our CFO Suniana Calapa to take you through our results. For those people who have joined us for the first time, we are going to be tracking the presentation that we've uploaded and if you are following the same, I will keep talking about the slide numbers that we are on. But for those people who are joining us for the first time, I would encourage you to refer to slide 5 of the earnings presentation on our website for a brief overview of Orkla India. I will not be spending time on that today. Let me start with the 3 key messages, that I would like you to take away from today. First the growth has accelerated and is broad-based. The revenues have grown by about 18.4% in Q2, and volume growth is improving. The second, the profitability remains healthy despite elevated input costs. Brands and strategic growth initiatives. Third, two of our strategic projects that we've been talking about in the past calls also, which is Project Bolt and Kerala distribution restructuring, are translating into tangible results on ground. Now let me take you through our performance for Q2 FY27. So if you now move to Slide 7, which gives you an executive summary of the results. Overall, we are encouraged by how our business has progressed in Q2. Building on the start in Q1, the revenue growth has actually accelerated further to 18.4%, with volumes growing 2.9% and EBITDA growing at 12.6%. Page 2 of 16 Orkla India Limited November 04, 2026 As mentioned in the last quarter, the growth continues to be broad-based across categories as well as geographies. Spices grew at 25.1% across all geographies, with Kerala driving the overall growth. A large part of this was price-led, and volumes were positive as well. Convenience foods grew at 7.7% against a higher base as last year's Q2 included the festive period. Our domestic business was particularly strong, growing at 20%, with Eastern leading the growth, driven by a resilient Indian economy, healthy consumer demand, and a strong execution focus that we have had across our portfolio. Our international business continued its upward growth trajectory, growing at 11.7%, with GCC growing 22.7% in a continuing volatile geopolitical environment. Innovations remain an important pillar of our growth strategy, and we have maintained a strong pace of launches, 23 in the last quarter and another 15 in this quarter, bringing it to 38 in the first half. These address emerging consumer needs, particularly amongst younger consumers in the top metro cities. And finally, on profitability, the input cost environment remains elevated and we continue to invest behind our brands and strategic growth initiatives. So EBITDA grew more slowly than revenues. Even so, the margins remain healthy at 15.9%. We move to Slide 8. Before I hand over to Sunaina for the financials, let me give you a quick update on the 2 key projects, starting with Project Bolt. Project Bolt is an endeavor to strengthen our play in the emerging quick commerce segment and now enters the final quarter of its implementation and realization. Strategically, our goal is to build our business across the top 28 cities in India by strengthening our capabilities. We are doing this at 2 levels. First, we're building our current portfolio. We've increased our ANSP investments in consumer reach and demand generation as part of the investments behind our brands and growth initiatives that I mentioned earlier. We are already seeing a meaningful expansion in our digital reach. Consumer reach has tripled through scaled social media content. Second, build a Gen Z-focused portfolio through innovations. We are using digital commerce to take differentiated propositions to our target consumer cohorts and to test and scale products beyond their traditional markets. This is an attractive platform to take relevant innovations and our South Indian food propositions to consumers across India. These interventions are translating into business outcomes. Digital commerce increased its contribution to our domestic business from 8.9% in Q1 FY27 to 10% in Q2 FY27. At the same time, digital commerce revenues from rest of India has grown at 33.6% year-on-year in Q2, encouraging evidence that the channel can help our brands travel beyond the [Showing first 8,000 characters — download PDF for full document]