Transcript of Investors/Analysts Call held on July 27, 2026 is enclosed

July 29, 2026 The BSE Limited The National Stock Exchange Corporate Relations Department, of India Limited P.J. Towers, Department of Corporate Services, Dalal Street, Exchange Plaza, 5th Floor, Mumbai-400 001. Bandra-Kurla Complex, Scrip Code: 533263 Mumbai-400 051. Scrip Code: GREENPOWER Respected Sir/Madam, Subject: Transcript of Investors/Analysts Call held on July 27, 2026. In continuation to our letters dated July 21, 2026 and July 28, 2026 in respect of Investors/Analysts Call, held on Monday, the July 27, 2026, please find enclosed herewith the Transcript of discussion held during the said Investors/Analysts Call. The aforesaid information is also available on the website of the Company on the below mentioned link: https://www.orientgreenpower.com/Investor-Presentations.asp We request you to take the same on your records. Thanking you, Yours faithfully, For Orient Green Power Company Limited G. Srinivasa Ramanujan Company Secretary & Compliance Officer Orient Green Power Company Ltd. Q1 FY 2027 Earnings Conference Call July 27, 2027 Moderator: Good morning, ladies and gentlemen, and welcome to the Earnings Conference Call for Q1 and FY27 for Orient Green Power Company Limited. As a reminder, all participants will be in the listen-only mode. There will be an opportunity to ask questions after the management discussion concludes. Should you need assistance during the consensus call, please signal an operator by pressing “*”, then “0” on your touch-tone phone. Let us now begin with the introduction of the Management Team. We have with us today, Mr. T. Shivaraman – Managing Director and CEO of the Company. Also joining us today is Ms. J. Kotteswari – Chief Financial Officer. I would now like to request Mr. T. Shivaraman – Managing Director and CEO, to give his opening remarks and share the company's performance in Q1 FY27 with the audience. Thank you and over to you, sir. T. Shivaraman: Thank you. Good morning, everyone. I am pleased to welcome you all to OGPL's Earnings Call for Q1 FY27. Thank you for joining us today and your continued faith and support in our journey. We started the quarter by commissioning a 3.3-megawatt wind turbine at the beginning of the quarter. With the 6.6 megawatts commissioned towards the end of the last quarter, we have 9.9 megawatts of incremental wind capacity available for operation in this quarter. Also, we had a 7-megawatt solar power plant which was commissioned in December 2025, which is also available. So, this is additional to the capacity that was available in the previous quarter in the last financial year. With regard to the other expansions: We have the 17.6-megawatt solar capacity which is being implemented is progressing satisfactorily. Also, we have a 7.8 megawatt of repowering of old wind assets under the new wind repowering scheme of Tamil Nadu. Both are proceeding as per plan. Page 1 of 16 There have been some delays due to the change of government and certain approval requirements, but that seems to be behind us, and we hope to commission both of them by the end of September 2026. With regard to the performance of the quarter, the current quarter has been a little moderate in terms of wind availability. As the monsoon was delayed this year, as all of you know, and therefore the wind season is also delayed and the first part of the wind season has also been a little muted compared to the previous year. However, the shortfall of wind generation was somewhat mitigated by the generation from the new capacity. Therefore, we have been able to come close to the corresponding quarter last year's numbers. The wind availability for the 2nd Quarter till date has been reasonably good and we hope to recover a significant portion of the shortfall during the 2nd Quarter. Running through the numbers: In Q1 FY27, the revenue from operations and EBITDA were Rs. 81.43 crores and Rs. 60.01 crores respectively. This is lower by 7% and 9% as against Q1 FY26 due to lower wind availability. PAT for the quarter came in at 23.94 crores, 16% lower than the corresponding period last year. In addition to lower wind, there was a reduction in interest income as the rights issue proceeds, which were in the same quarter last year, have been deployed for implementing the projects. Also, there was an increase in depreciation due to the additional capacity which also contributed to slightly lower PAT. As we look forward, the 2nd Quarter of this financial year looks to be better as compared to Q1, given the improvement in the wind availability. The completion of the Greenfield solar and the repowering CAPEX, which will happen before September of this year, will, along with full year operation of the newly commissioned 9.9 megawatts and 7 megawatts of wind and solar, will support profits for the forthcoming quarters and the current fiscal. The currently operating wind turbines are performing nominally. We have no significant issues with turbine availability and the performance is quite satisfactory. As far as on the balance sheet front, financial and liquidity position continues to remain healthy. Our interest costs are under control, and we are making continuing efforts to reduce the cost of borrowing. The above positives, along with the strong performance of the turbines, should generate improved returns while reinforcing our balance sheet strength during the course of this year. Thank you again for taking time out of your busy schedule to join us. We look forward to sharing more updates over the course of the year as they arise. Happy to answer questions as they come up. Thank you. Page 2 of 16 Moderator: Thank you so much, sir. Ladies and gentlemen, we will now begin with the question-and-answer session. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question comes from the line of Faisal Hawa with HG Hawa & Company. Please go ahead. Faisal Hawa: Sir, my name is Faisal Hawa. What is the plan going forward now? Because our stock price is at Rs. 10, so to get any kind of money further from preferential issue or any other capital raising is almost impossible. And to do another rights the same price will also not be a very good option. And we have not been able to give any kind of return to our shareholders for the last one decade or so. So, are we still on with the plan to make our company a 1Gigawatt operation? T. Shivaraman: Yes. See, we are working on it. Unfortunately, we don't have control over the share price and the markets. However, we are currently not fully leveraged on the assets that we have added. For example, the solar project that we added 25 megawatts, which we are adding, we have hardly any leverage on that. The original plan was to leverage that to expand capacity organically in certain areas. We are evaluating some further repowering, which will give us a substantially improved return. We are also looking at various options of fund raising. Let's see how things develop. We did have some serious conversations, which unfortunately did not proceed the way we wanted. But there is a lot of stuff happening at our end, and we are hopeful that something will start moving during the course of this year. So, we are still moving to expand, but it has been slower than what we anticipated. Faisal Hawa: So, two years ago, we had set up a target of 2028 for 1Gigawatt. So, now what is the new target? T. Shivaraman: We are still working on it. We are looking at certain, shall we say, Brownfield or certain acquisition possibilities as they develop, we will keep you in the loop. Faisal Hawa: And what are the kind of valuations that we are looking at for the acquisitions? T. Shivaraman: I can't talk about it right now because until it comes to a stage where we have a firm project or a firm thing that we need to take to the Board and the shareholders, I don't think I can comment on it. Faisal Hawa: So, is the Board looking at any other options to create any kind of shareholder value? [Showing first 8,000 characters — download PDF for full document]