Analysts/Institutional Investor Meet/Con. Call Updates

5th August 2026 BSE Limited National Stock Exchange of India Limited Phiroze JeeJeeBhoy Towers, Exchange Plaza, Dalal Street, 5th Floor, Plot No. C-1, G Block, Mumbai - 400 001 Bandra-Kurla Complex, Bandra (E) Mumbai - 400 051 SCRIP CODE: 523367 SCRIP CODE: DCMSHRIRAM Sub.: Transcript of Investors’ Earnings Call Dear Sir/Madam, Pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached Transcript of Investors’ Earning Call on the Unaudited Financial Results (both Standalone and Consolidated) for the quarter ended 30th June 2026 held on 30th July 2026. Kindly take the same on record. The said Transcript is also available on the Company’s website i.e., https://www.dcmshriram.com/ Yours faithfully, For DCM Shriram Limited (Deepak Gupta) Company Secretary & Compliance Officer Encl: As Above DCM Shriram Limited Q1 FY27 Earnings Conference Call July 30, 2026 Moderator: Ladies and gentlemen, good day and welcome to the DCM Shriram 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 after the presentation concludes. Should you need assistance during the call, please signal an operator by pressing ‘*’ then ‘0’ on your touchtone phone. I now hand the conference over to Mr. Siddharth Rangnekar from CDR India. Thank you, and over to you, sir. Siddharth Rangnekar: Thank you, Rayo. Good evening and welcome to DCM Shriram Limited's Q1 FY27 earnings conference call. Today we have with us Mr. Ajay Shriram, Chairman and Senior Managing Director; Mr. Ajit Shriram, Joint Managing Director; Mr. Aditya Shriram, Deputy Managing Director; and Mr. Amit Agarwal, Group CFO of the company. We shall commence with remarks from Mr. Ajay Shriram and Mr. Ajit Shriram. Members of the audience will get an opportunity to ask their queries to the management following these comments during the interactive question-and-answer session. Before we begin, please note that some of the statements made on today's call could be forward-looking in nature and a note to that effect has been included in the conference call invitation that has been circulated earlier and is also available on the stock exchange websites. I would now like to invite Mr. Ajay Shriram to give us a brief overview. Over to you, sir. Ajay Shriram: Thank you, Siddharth. Good afternoon, ladies and gentlemen, and a very warm welcome to all of you. Thank you for joining us today to discuss the company's performance around the Q1 Financial Year '27 results. I shall commence with views on the industry dynamics and our strategic direction, following which Ajit will share the financial perspective. Globally, this quarter was characterized by a complex wait-and-watch environment. The economic impact of West Asia conflict transmitted rapidly to energy markets and supply chain flows. This is embedding inflationary pressures, cementing expectations for a prolonged higher interest rate environment and tempering global growth. On the domestic front, along with the West Asia conflict, we are navigating rainfall deficits induced by El Niño that have resulted in uneven regional distribution across key agriculture zones. This is understandably changing the agriculture patterns, straining rural consumption, and placing upward pressure on domestic food inflation. While Kharif sowing is attempting a late catch-up as July rains improved, the initial lag has created a large void in sowing. However, Page 1 of 14 despite this combination of global friction and climate volatility, the broader Indian economy continues to demonstrate structural resilience. While rural markets face near-term pressure, strong urban demand and sustained public infrastructure investment and prudent macroeconomic policies continue to provide a robust anchor for the medium-term growth. We navigated this dynamic quarter by leaning into our core strengths of deep value chain integration, stringent cost discipline, digital transformation, and execution agility. Financial prudence continues to be our bedrock. By maintaining adequate liquidity in our balance sheet, we successfully absorbed commodity shocks. Today, our strong operating cash flows are fully funding our capital investments while preserving our agility to capture organic and inorganic growth opportunities. Our commitment to environmental sustainability remains integral to our strategy for future readiness and long-term value creation. In line with this commitment, during the quarter, we signed a definitive agreement with Serentica Renewables to source 58 megawatts of peak hybrid renewable energy for our Bharuch chemicals complex. Upon commissioning, our peak renewable energy capacity across Bharuch and Kota is expected to increase to around 176 megawatts, further strengthening our energy security, advancing our decarbonization journey, and improving long-term cost competitiveness. Now I shall take you through the perspectives of each of our businesses. First is Chemicals: Globally, the chlor-alkali industry continued to operate in a challenging environment during the first quarter of financial year '27. Geopolitical developments in West Asia led to heightened volatility in energy and freight markets, impacting chemical supply chains and input costs. While demand across several end-user industries remained resilient, excess capacities in China continued to weigh on international chemical pricing across major chemical value chains. The domestic caustic soda market remained healthy, supported by steady demand from alumina, soaps and detergents, and textile industries. The new flaker facility commissioned last year has enabled us to actively export part of our caustic soda production, improving market reach. Capacity utilization during the quarter stood at 82%. This will improve further as our downstream projects get commissioned. Hydrogen peroxide continued to face oversupply conditions across parts of Asia despite structurally growing demand from paper, water treatment, and electronics industries. The plant has delivered a healthy operating performance with capacity utilization at around 85%. The advanced materials value chain comprising glycerin to epichlorohydrin to epoxy, including formulations, witnessed mixed market conditions during the quarter. Glycerin markets strengthened, supported by biodiesel-linked supply dynamics and improving downstream Page 2 of 14 demand, while epichlorohydrin and epoxy markets experienced volatility owing to feedstock movements and geopolitical developments. Our epichlorohydrin and epoxy plants are currently operating at around 70% capacity utilization each, reflecting continuous ramp-up and stable operations. Our projects in aluminum chloride and calcium chloride at Bharuch are in the final stages of pre- commissioning, and commercial production is expected to commence during Q2, further strengthening our downstream chemical portfolio. The 68-megawatt peak hybrid renewable power project at Kota is currently under commissioning with average power injection of 25 megawatts for the month of July. Our largest chemical site at Bharuch, Gujarat was given the Lighthouse recognition by World Economic Forum. It was an honor for us and a testimony of our journey in using digital means for efficient operations. There are only 239 companies worldwide and only 9 chemical companies in the world with such recognition. Vinyl: The escalation of the Middle East conflict pushed up PVC manufacturing costs as well as prices. To safeguard from rising global prices, the Government of India granted a temporary waiver of basic customs duty on PVC, a measure that, combined with strong Chinese imports, led to a surge in imports into India and, in turn, weighed on sale of domestic PVC. On the demand side, offtake remained subdued through the quarter, weighed down by labor shortages, heatwave conditions, an [Showing first 8,000 characters — download PDF for full document]