Submission of Transcript of Earning call held on Monday, 27th July 2026 to discuss the Company''s Operational and Financial performance for the quarter ended June 30, 2026.

Dated: 30.07.2026 To To BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai- 400001. Bandra (E), Mumbai-400051. Scrip code : 509152 Symbol : GRPLTD – Series: EQ Dear Sir / Madam, Subject: Submission of Transcript of Earnings Call for Q1FY27 Please find enclosed herewith transcript of earnings call held with analyst / institutional investors on Monday, 27th July, 2026 at 03:00 p.m. (IST) to discuss Company’s operational and financial performance for Q1FY27. Kindly take the same on your records. Thanking you, For GRP Limited Sonal Jaju Compliance Officer and Compliance Officer Encl.: As above. “GRP Limited Q1 FY27 Earnings Conference Call” July 27, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recording is uploaded on the stock exchange on July 27, 2026, will prevail MANAGEMENT: MR. HARSH GANDHI – MANAGING DIRECTOR – GRP LIMITED MS. SHILPA MEHTA – CHIEF FINANCIAL OFFICER – GRP LIMITED Page 1 of 13 GRP Limited July 27, 2026 Moderator: Ladies and gentlemen, good day, and welcome to GRP Limited Q1 FY27 Earnings Conference Call. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. As a reminder, all participant lines will be in 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 being recorded. I now hand the conference over to Mr. Harsh Gandhi, Managing Director, for his opening remarks. Thank you, and over to you, sir. Harsh Gandhi: Thank you. A very good afternoon to everyone and thank you for joining GRP Limited's quarter 1 earnings call for fiscal year 2027. I'm joined today by our CFO, Ms. Shilpa Mehta; and by our Investor Relations advisers, SGA. Our investor presentation has been uploaded to the stock exchanges and on our website, and hope all of you have had an opportunity to go through the same. For several quarters now, we have said that FY 2027 would be the year in which the investments that we have made over the last couple of years across our businesses begin to reflect in our operating performance. This quarter is an encouraging step in that direction. And more than the headline numbers, it is early evidence of something we have been working towards for a long time, an integrated circular materials platform we set out to build is starting to come together. Turning to performance. The consolidated total income for the quarter grew 26% year-on-year to INR1,573 million on the back of volume growth, mainly attributable to the Pyrova Energy capacity utilization and improving realizations with both domestic and export markets contributing meaningfully. Importantly, that growth led to an EBITDA rise of 60% to INR174 million and EBITDA margin expansion by 233 basis points to 11%, even as raw material costs rose sharply during the quarter. Profit after tax more than doubled to INR42 million for the quarter. In the quarter of significant input cost inflation, operating leverage, product mix and cost discipline did the heavy lifting. You would have also noticed a change in how we present the business. As the integration across our end-of-life tire value chain has deepened, we have regrouped our operations into 2 segments: Rubber Recycling, comprising Reclaim rubber, Custom Die Forms, and the newly instituted Pyrova Energy; and Others, comprising Engineering plastics, our Windmill operations, and the residual Polymer composite business. In case of rubber recycling, the clubbing of the BUs is a reflection of how these businesses operate together in synergy with one another. The rubber recycling business led the quarter. On a stand-alone basis, the segment revenue grew 34%, of which Reclaim volumes grew 12% Page 2 of 13 GRP Limited July 27, 2026 and reclaim export volumes rebounded 20%, as customer order patterns normalized following the easing of U.S. tariffs. Domestic demand stayed healthy with our market share staying intact. Despite elevated raw material costs and extreme volatility in global logistics, better realizations and manufacturing efficiencies supported a healthy expansion in the segment margins. Within this segment, Pyrova Energy is where the platform thesis is becoming most visible and its performance is improving with each passing month. During the quarter, the plant achieved its longest continuous reactor run since commissioning, an important milestone because stable, continuous operation is the precursor to throughput, reliability, and commercial performance in a continuous pyrolysis process. Both our crumb rubber and continuous pyrolysis facilities have now largely stabilized. And our focus is shifting to raising utilization, expanding customer approvals, improving process efficiencies, and progressing towards the commencement of recovered carbon black production. The cumulative investment under Pyrova now stands at approximately INR91 crores. The more important point, however, is synergy. While the Pyrova business is shy of achieving stand-alone profitability, as it scales alongside Reclaim Rubber, the 2 businesses will increasingly reinforce one another through shared feedstock and sourcing capabilities. In the future, these synergies will also be realized across the energy needs of Reclaim, and more importantly, a possible common customer base. This integration is what will structurally lift rubber recycling margins as the platform matures and there's a genuine source of advantage that will be difficult to replicate. Plastics and others: In the Others segment, revenue was broadly stable against a higher comparative base that included the polymer composite business, but the quality of business has improved markedly. Engineering Plastics grew volumes 27%, helped by domestic automotive demand and a more favourable virgin nylon pricing environment. And our Repurposed Polyolefin business, run mostly through our subsidiary, delivered a clear turnaround in profitability. Together, our plastic verticals expanded EBITDA margins by 14 percentage points year-on- year on a 10-point improvement in gross margin, reflecting a better product and customer mix and continued cost discipline. Behind this sits a regulatory tailwind that is clearly strengthening. Plastic EPR norms are getting tighter, and brand owners are becoming markedly more serious about implementation. At the same time, we want to be realistic. The on-ground challenges of collecting waste effectively and improving yield remain real and persistent challenges and building a dependable, compliant recycled content supply chain will take a significant sustained effort. Page 3 of 13 GRP Limited July 27, 2026 We would, however, rather build that capability effectively than chase short-term volume, and we believe that discipline will be rewarded as the regulation matures. Stepping back for a moment, our sector is drawing growing interest and rightly so. What distinguishes GRP is not a single product or a single plant. It is a 5-decade integrated platform spanning reclaim rubber, crumb rubber, and now tire pyrolysis oil and rCB along with engineering plastics, serving 8 of the top 10 global tire manufacturers and with more than half of our revenues coming from exports. We are also the first reclaim rubber manufacturer in the world to earn the ISCC Plus certification, an affirmation of our capability and possible synergy with certain set of customers. As this platform matures, that breadth and integration is what converts into durable, structural margin growth, and that is precisely the traj [Showing first 8,000 characters — download PDF for full document]