Analysts/Institutional Investor Meet/Con. Call Updates

July 30, 2026 To, To, The General Manager, The Listing Department. Department of Corporate Services, National Stock Exchange of India Limited BSE Limited, Exchange Plaza, C-1, Block G P.J. Towers, Dalal Street, Bandra Kurla Complex Mumbai – 400001 Bandra (E), Mumbai – 400 051 Scrip Code No.: 543972 Trading Symbol: AEROFLEX Subject : Transcript of the Investors’ Conference Call held on July 28, 2026, for Q1 & FY27 Results Dear Sir/Ma’am, In continuation to our earlier intimation dated July 28, 2026, regarding audio recording of the Investors’ Conference Call and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the transcript of Investors’ Conference Call held on Tuesday, July 28, 2026, at 11:00 a.m. (IST) for Q1 & FY27 Results. The transcript is also available on Company’s website at: https://www.aeroflexindia.com/uploads/topics/c915b2cd-3786-4c0f-8344-5b8ada7d5380.pdf The audio recording of the Investors’ Conference Call held on July 28, 2026, for Q1 & FY27 Results is available on Company’s website at: https://www.aeroflexindia.com/uploads/topics/17852384829298.mp3 Request you to kindly take the same on record. Thanking you, Yours faithfully, For AEROFLEX INDUSTRIES LIMITED Ruthu Parampogi Company Secretary & Compliance Officer Membership No.: A60982 Encl: As above “Aeroflex Industries Limited Q1 FY27 Earnings Conference Call” July 28, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on 28th July 2026 will prevail. MANAGEMENT: MR. ASAD DAUD – MANAGING DIRECTOR – AEROFLEX INDUSTRIES LIMITED Page 1 of 16 Aeroflex Industries Limited July 28, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Aeroflex Industries Limited Q1 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 at the end of today's presentation. 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 being recorded. I would now like to hand the conference over to Mr. Asad Daud, Managing Director, Aeroflex Industries Limited. Thank you, and over to you, sir. Asad Daud: Thank you so much. Good morning to everyone. I welcome you all to Aeroflex Industries Q1 FY27 Earnings Call. Joining us today are members of our senior management team, along with representatives from Strategic Growth Advisors, our Investor Relations partner. I hope that you have had the opportunity to review our financial results and the investor presentation, which is available on the stock exchanges and also on the company's website. We are pleased to report our highest quarterly performance ever. Our consolidated revenue for Q1 FY27 stood at INR145.97 crores, which is an increase of 72.4% on a year-on-year basis, with growth coming in both from our core business as well as our emerging businesses. Our flexible hose business grew 41% on a Y-o-Y basis and the assemblies and other value-added products grew even at a faster pace. Revenue from SFN Skid Assemblies reached INR32.4 crores in this quarter, which is contributing to approximately 23% of the total revenue. These skid assemblies enabled control circulation of the coolant across the entire cooling systems in the data centres, and it is engineered to meet the stringent requirements with regards to reliability, pressure management and also leak prevention. This marks a major step in our company's evolution from being just a flexible hose manufacturer to an integrated provider of advanced flow control and flow management solutions for mission-critical applications. As part of our capital expenditure plans, we have expanded the capacity of skid assemblies from 6,000 units to 9,000 units per annum. And we further -- and we have the plan to further increase it to 15,000 units per annum based on the requirements from the -- from our customer and also the deployment timelines given by them. We also continue to invest in automation, advanced welding solutions and also precision manufacturing to help strengthen our product quality and reliability. On the flexible hoses vertical, we have planned to increase the production from 17.5 million meters per annum currently to 20 million meters per annum and it should be completed by Q3 of this financial year. Now talking about our financial performance for Q1. Our total income stood at INR145.97 crores, which is an increase of 72.4% on a year-on-year basis. Our EBITDA stood at INR33.5 crores, which is up by 116% on a year-on-year basis with margins expanding by 468 basis points as compared to the same quarter in last year to 23.04%. Page 2 of 16 Aeroflex Industries Limited July 28, 2026 Our profit after tax stood at INR18.79 crores, which is up 162% on a year-on-year basis. And our PAT margin currently stands at about very close to 13%, which is an improvement of 440 basis points from last year same quarter. Our cash profit grew by more than 100% to INR26.64 crores with cash profit margin improving by 278 basis points to 18.25%, which reflects strong operating leverage and improved cash conversions and profitability across our various business verticals. Our exports grew by 43% on a year-on-year basis and the higher contribution from the domestic market in this quarter was primarily driven by the rapid scale-up and supply of the liquid cooling solutions, the skid assemblies of the liquid cooling solutions. Looking ahead, we are confident in the business model that we have in the products that we manufacture and the long-term momentum of our growth story, which is built on a strong core business of flexible hoses and assemblies and the fast-growing vertical of skid assemblies for data centres. This gives us an opportunity to scale rapidly along with seeing the growth coming in from the opportunity that the AI infrastructure provides. We remain firmly focused on scaling all our business verticals, including the liquid cooling business, expanding the capacity of skid assemblies and also for flexible hoses and hose assemblies, deepening our customer relationship across our customers, both in India and across the world. Advancing new product development and also undertaking automation and digitalization initiatives. I would like to thank our employees, our customers, our suppliers, our business partners and all our shareholders for showing the continuous support and trust to the company. Thank you. And with that, I conclude my remarks, and we can now open the floor for questions. Moderator: Thank you very much sir. We will now begin the question-and-answer session. We have our first question from the line of Shwetha from ithought PMS. Shwetha: So, my first question is, I saw there was a spurt in revenues from Europe in this quarter. So, could you please explain like where that was specifically from which segment? Asad Daud: So, we are seeing increased business coming in from both Europe and also in the U.S.A. market. From Europe, it's a mixture of the business growth coming in from various countries, which includes Italy, Spain, France and also the U.K. And we are seeing the business across Europe coming in not only from the traditional industries, but also, we are supplying our flexible hoses to applications -- to data centre applications in Europe as well. Shwetha: Okay, sir. So, we are exporting data centre applications? Asad Daud: Yes. Exporting our hose assemblies, the flexible hose assemblies also for data centre application in Europe. Moderator: We have our next question from the line of Karan Dhole from Asit C Mehta. Page 3 of 16 Aeroflex Industries Limited July 28, 2026 Karan Dhole: Congrats on a good set of numbers. My question is on the skid assemblies’ segment, so who are the domestic competitors who are supplying the same prod [Showing first 8,000 characters — download PDF for full document]