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August 8, 2026 BSE Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G Dalal Street, Fort Bandra Kurla Complex, Bandra East, Mumbai – 400 001 Mumbai – 400 051 Scrip Code - 526612 NSE Symbol - BLUEDART Sub: Transcript of Earnings Call - Disclosure under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 Dear Sir/ Madam, We refer to our intimation dated August 1, 2026, notifying on the schedule of ‘Earnings Call’ organised through M/s. Motilal Oswal Financial Services Ltd. on August 5, 2026, to discuss the corporate performance of the Company for the Quarter ended June 30, 2026, and audio recording of the same submitted on August 5, 2026. Pursuant to requirements of law, please find enclosed herewith, transcript of the Earnings Call which is also made available on the Company’s website viz; www.bluedart.com. Kindly take the same on your records. Thanking you, Yours faithfully, For Blue Dart Express Ltd. Tushar Gunderia Head (Legal & Compliance) & Company Secretary “Blue Dart Express Limited Conference Call” August 05, 2026 MANAGEMENT: MR. SAGAR PATIL – CHIEF FINANCIAL OFFICER – BLUE DART EXPRESS LIMITED MR. TUSHAR GUNDERIA – HEAD LEGAL COMPLIANCE AND COMPANY SECRETARY – BLUE DART EXPRESS LIMITED MODERATOR: MR. ALOK DEORA – MOTILAL OSWAL FINANCIAL SERVICES Page 1 of 13 Blue Dart Express Limited August 05 2026 Alok Deora: Good afternoon everyone, and welcome to the interaction with senior management of Blue Dart Express. So firstly, I would like to thank the management for giving us the opportunity to host the call. Today, we have with us Mr. Sagar Patil, CFO; and Mr. Tushar Gunderia, Head of Legal & Compliance and Company Secretary, Blue Dart Express. I would now hand over the call to the management to provide some opening comments, and then we can take up the Q&A. Thank you, and over to you, sir. Tushar Gunderia: Thank you, Alok, and good afternoon, everybody. A very warm welcome to all of you. As you are aware, the Board of Directors of the company at its meeting held on 31st of July 2026, approved the financial results of the company for the quarter ended 30th June 2026. The company reported revenue from operations of INR1,658 crores as compared to INR1,442 crores in the first quarter of 2026. Profit after tax for the quarter stood at INR87 crores, reflecting disciplined execution and operational resilience despite the challenging external environment and higher operating costs. During the quarter, Blue Dart continued to leverage its integrated air and ground network, extensive domestic reach and technology-enabled operations to deliver reliable time-definite logistics solutions across industries. The results have already been uploaded on the stock exchange on the same day and also has been posted on the website of the company. I now hand over the call to Mr. Sagar Patil, our Chief Financial Officer, for further proceedings. Thank you. Sagar Patil: Thank you, Tushar. Thank you, Alok. Good afternoon all. This seems to be a good quarter where what we have kind of put ourselves for seems to be bringing positive indications in terms of numbers moving in the right direction. So with that backdrop, yes, I think we can start the questions session. Alok Deora: Sure. Thank you so much for the opening remarks. Anyone who has a question can please raise their hand or post it in the chat box below. we will get started. we'll take the first question from Mr. Krupashankar. Krupashankar: Congrats on good set of numbers. The first question was on more of a bookkeeping question. So can you just probably highlight the tonnage for the quarter and the parcels, number of parcels, etcetera? Sagar Patil: Yes. Total tonnage was 364,430 tons and the number of shipments was 96.15 million. Krupashankar: Got it. So shipment number of parcel standpoint, the growth was hardly about 2%. And it's taking it from the tonnage standpoint, it's about 7%. So is it fair to assume that the e-commerce growth this time around was relatively lower and most of the growth has come in because of pricing action? Sagar Patil: Yes, you are right directionally. There has been a good amount of growth in the -- from pricing from RPK, RPS point of view. The actions that we had taken for improving our yield in terms of looking at the loss-making lanes or loss-making customers in some of the products. As a part of GPI exercise this time, we also initiated those kind of price increases in some of the customers. Page 2 of 13 Blue Dart Express Limited August 05 2026 So that has helped -- at the same time, as we saw in the last quarter, we were looking forward to a potential big increase in the price -- in the fuel prices. April, May, June were characterized by that as we have a fuel price -- fuel surcharge mechanism, the fuel surcharge went up, helped us to neutralize the impact of fuel price increase. But as a revenue, ultimately, that also reflects in yield. that is also one reason what would have reflected in the from a yield point of view. Krupashankar: Right. On your commentary on your e-commerce and ground business, what would have been the growth this quarter on a Y-o-Y basis? And in the air business if you can highlight what would have been the growth? Sagar Patil: This quarter versus last year, e-commerce would have grown by about from revenue point of view, more than 10%. Krupashankar: Okay. And ground, sir? Sagar Patil: Ground as a B2B. When we talk about e-commerce, it included a part of ground, but ground B2B has also grown by about 14%. Krupashankar: Ground B2B has grown around 14%. Got it. So air continues to be one segment wherein the tonnage growth is not happening, but it's more of reflecting on pricing. Is that assessment correct, sir? Sagar Patil: Yes, to an extent, yes. The impact of fuel, which comes in both cost as well as revenue, but revenue seems higher from yield point of view. Krupashankar: Okay. Understood, sir. So directionally, just one point on the e-commerce business. Now given that we have seen a good growth in the underlying industry, the growth what we have reported is on a value basis is around 10%. So just wanted to get to know what is the disconnect? Are we losing some ground in some specific markets? Or has the market shifted from air to ground where probably we are losing some share. Any thoughts around this? Sagar Patil: From e-commerce point of view, we have not been a very big player. We -- in the overall context, made up of both captive as well as the 3P players. Blue Dart has been, I would say, focused on not playing on the volumes, but ensuring what we get as a piece from e-commerce works well to synergize with our capacities and adds profitability to the bottom line. So quarter-on-quarter, there could be movements which could be seen as higher or lower than the market. But then again, we play between air and the ground e-commerce part of it. I'm not sure from industry point of view, again, within that, the relevant part of the industry, be it ground or air. Sorry, are you saying something? Krupashankar: No, sir. So what I was saying is that the same thing that given that industry has recently seen consolidation and there is a requirement for established players who can provide more solutions on the e-commerce side, isn't it the right time to capitalize on that opportunity and grow Page 3 of 13 Blue Dart Express Limited August 05 2026 aggressively? So probably just wanted to get a sense around why it's not a core area at this point. And because you've already set up infrastructure on the ground side as well. Any thoughts around how we want to build this business going ahead? Because we do know that DHL had commented that they wanted to become a large piece of e-commerce pie in India. Over 3-year period. So just wanted to get a sense around how you want to build this business. Sagar Patil: Yes. So e-commerce remains a growth driver among the other products, the surfac [Showing first 8,000 characters — download PDF for full document]