Transcript of Earning Conference Call held on 30th July 2026

5th August 2026 To, To, The Manager - Listing Department, Manager - Department of Corporate Services The National Stock Exchange of India Ltd BSE Limited Exchange Plaza, 5th floor, Jeejeebhoy Towers, Plot no. C/1, “G” Block, Dalal Street, Fort, Bandra-Kurla Complex, Mumbai - 400 001 Mumbai-400051 Symbol: APCOTEXIND Security Code: 523694 Dear Sir/ Madam, Sub: Transcript of Earnings Conference Call held on 30th July 2026 Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in furtherance of our letter dated 30th July 2026, informing the exchanges regarding Audio recording of the earnings conference call in respect of the Financial Results of the Company for the quarter ended 30th June 2026, we wish to inform you that the transcript of the earnings conference call held on 30th July 2026, is hereby enclosed. The said transcript has also been made available on the Company’s website and can be accessed at: https://apcotex.com/investor-quarterly-report Kindly take the same on record. Thanking you, For Apcotex Industries Limited Drigesh Mittal Head – Company Secretary & Legal REGISTERED OFFICE CORPORATE OFFICE TALOJA FACTORY C-403/404, 4th Level, Wing C, NKM International House, Plot No. 3/1, Tower 1, Seawoods Grand Central, 178, Backbay Reclamation, MIDC Industrial Area, Taloja, Sector 40, Navi Mumbai-400706 Babubhai M. Chinai Marg, Dist. Raigad-410208 Maharashtra, India Mumbai-400020, Maharashtra, India Maharashtra, India T: +91-22-62060800 T: +91-22-35406092 T:+91-22-71403500 Apcotex Industries Limited CIN No.: L99999MH1986PLC039199 www.apcotex.com Apcotex Industries Limited Q1 FY '27 Earnings Conference Call July 30, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 FY27 Earnings Conference Call of Apcotex Industries Ltd. 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 this conference call, please signal an operator by pressing “*” then “0” on your touch-tone phone. Please note that this conference is being recorded. At this time, I would like to hand over the conference to Ms. Purvangi Jain from Valorem Advisors. Thank you and over to you ma'am. Purvangi Jain: Thank you. Good afternoon everyone and a warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the investor relations of Apcotex Industries Ltd. On behalf of the company, I would like to thank you all for participating in the company's earnings call. For the 1st Quarter of the financial year 2027. Before we begin, a quick cautionary statement. Some of the statements made in today's conference call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from those anticipated. Such statements are based on management's belief as well as assumptions made by and information currently available to the management. Audiences are cautioned not to place any undue reliance on these forward-looking statements in making any investment decisions. The purpose of today's earnings conference call is purely to educate and bring awareness about the company's fundamental business and financial quarter under review. Now, I would like to introduce you to the management participating with us in today's earnings call and hand it over to them for their opening remarks. We have with us, Mr. Abhiraj Choksey - Vice Chairman and Managing Director and Mr. Vivek Thakur - Chief Financial Officer. Without any further delay, I would now like to hand over the call to Mr. Vivek Thakur for his opening remarks. Thank you and over to you, sir. Vivek Thakur: Good afternoon, everyone. It is a pleasure to welcome you all to the earnings conference call for the 1st Quarter of financial year 2027. I hope you had an opportunity to review the financial Page 1 of 16 statement and earnings presentation which have been circulated and uploaded on our website and the stock exchange. Let me provide you with a brief overview of the financial and operational highlights for the 1st Quarter of the Financial Year 2027: The company delivered an exceptional start to FY 2027, achieving its highest ever quarterly revenue of 526 crores, which represents a 40% year-on-year growth. This was driven by improved price realizations despite lower sales volumes. The quarter marked a historical financial milestone with the company reporting its highest ever EBITDA, profit before tax and profit after tax. Operating EBITDA stood at 117 crores, registering a growth of 203% year-on-year, with EBITDA margins improving to 22.3% from 10.3% in the corresponding quarter of the previous year. Profit after tax for the quarter stood at 79 crores. This compared with 19 crores in the corresponding quarter of the previous year reflects a growth of 311% year-on-year, with PAT margins improving to 15.01% from 5.11%. During the quarter, the export business encountered temporary headwinds as geopolitical developments in West Asia and the resulting logistic disruptions and increase in ocean freight costs adversely impacted the export volumes. Despite the challenges faced, strong financial performance was underpinned by our strategic operational resilience, disciplined inventory planning, proactive procurement and effective risk management, which enabled us to ensure uninterrupted customer service during industry- wide disruptions. This allowed us to capitalize on constrained market supply and deliver strong profitability. Alongside our operational performance, we also continued to execute our strategic CAPEX plans during the quarter. Working capital requirements increased during the quarter, primarily due to higher raw material prices, which resulted in higher inventory values and receivables following the pass- through of increased input costs to the customers. With this, now I open the floor for questions and answer session. Thank you. Moderator: Thank you very much. We will now begin the question-and-answer session. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question is from the line of Aditya from SMIF Institutional Equities. Please go ahead. Aditya: Thank you, sir, for the opportunity and congrats on a good set of performance. Just a couple of questions. First, is it possible to quantify the inventory gains during the quarter? Subsequently, how much in terms of margins would have been better because of inventory gains? A quantitative number like 3%, 4%, 5% jump is because of inventory gains. If you could highlight that, that would be great. Secondly, sir, how much would be the volume drop on sequential basis and on YOY basis? Page 2 of 16 Abhiraj Choksey: Okay, thank you. Thanks, Aditya. I will take those questions. So, I would say yes, there has been some amount of inventory gain. I think, if I am not mistaken, in terms of EBITDA, maybe the EBITDA would have been 2% higher because of inventory gain. I think EBITDA is around 20-23% if I am not mistaken. So, I hope that answers your first question. And your second question was on, remind me again, sorry. Volume drop. Yes, we had a volume drop mainly because of the export market which we have developed. I mentioned on previous calls before that the MENA region has been a strategic region for us. And because of the Strait of Hormuz being shut, a lot of our customers' production being down, of course not being able to get material to them in some of them. So, obviously that's been a downer. So, overall volume has come down by 10- 12%, but it's all because of exports. In fact, the domestic volume has gone up by 10%. So, our view is that once this war ends, and it was in between, as you know, there was a little bit of a lull in the war. And at that time we got all our orders back. Unfortunately, the war again sort of seems to have erupted. So, a [Showing first 8,000 characters — download PDF for full document]