PFA transcripts of earning call Q1FY27

Date: August 10, 2026 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 001. Mumbai – 400 051. Scrip Code: 541167 Symbol: YASHO Dear Sir/ Madam, Sub: Earnings Conference Call Transcript for Q1FY27 With reference to the captioned subject matter, please find attached herewith the earnings conference call transcript for Q1FY27 for your reference and records. The said transcript of the earning conference call is also made available on the Company’s website i.e. www.yashoindustries.com You are requested to take the above information on record. Thanking You, Yours faithfully, For Yasho Industries Limited Rupali Verma (Company Secretary & Compliance Officer) Membership No. A42923 Encl: a/a YASHO INDUSTRIES LIMITED REGISTERED OFFICE: Office No. 101/102, Peninsula Heights, C.D Barfiwala Marg, Juhu lane, Andheri (West), Mumbai – 400058, India TEL: +91 22 62510100; FAX: +91 22 62510199; E-Mail: info@yashoindustries.com; CIN No: L74110MH1985PLC037900 “Yasho Industries Limited Q1 FY27 Earning Conference Call” August 03, 2026 MANAGEMENT: MR. PARAG JHAVERI – MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER, YASHO INDUSTRIES LIMITED MR. CHIRAG SHAH – CHIEF FINANCIAL OFFICER, YASHO INDUSTRIES LIMITED MODERATOR: MS. SEJAL - MUFG Page 1 of 19 Yasho Industries Limited August 03, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 FY '27 Earnings Conference Call of Yasho Industries Limited organized by MUFG Investor Relations. 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 touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Sejal from MUFG. Thank you and over to you, ma'am. Sejal: Thank you Danish. Good evening, everyone and thank you for coming to Yasho Industries Q1 FY '27 Earnings Conference Call. Today, we have with us from Management Mr. Parag Jhaveri - the Managing Director and CEO along with Mr. Chirag Shah - the CFO. Before we proceed with the call, I would like to give a small disclaimer that the call may contain certain forward-looking statements which are based on the business operations and expectations of the Company as of today. These statements are not guarantees of future performance and involves risks and uncertainties which are difficult to predict. A detailed disclaimer has been given in the Company's investor presentation which is uploaded on the Stock Exchange. Thank you. Now, I would like to hand over the call to Mr. Parag Sir. Over to you, sir. Parag Jhaveri: Good evening, everyone and thank you for joining us today. On behalf of Yasho Industries Limited, I warmly welcome all of you to our Earnings Call for the 1st Quarter & FY’26-27. The last quarter has been a good start to the financial year for the organization. The company achieved its highest quarterly revenue of Rs. 308 crores driven by a 42% increase in volume on a year-on-year basis. During the quarter, the company received several approvals from key global customers in our industrial chemical segment. This helped the company increase volume offtake and enhance capacity utilization of our facilities. This increased utilization of our facilities as well as improved product mix helped increase our EBITDA margin from 17% to 24%. The Management is confident to sustain the EBITDA margin of its current quarter going forward on account of improved product mix and better capacity utilization which is backed by commitment from key customers. Page 2 of 19 Yasho Industries Limited August 03, 2026 Looking at the market condition going forward, approval from key customers, long-term supply contracts, and commitment from marquee customers that the company already has in place, our company has revised our FY28 revenue target to more than Rs. 1,600 crores. The investment we have made in manufacturing capacity, product development, and customer relationships are helping our organization to scale and pursue larger growth opportunities. The company continues to invest in R&D, which today has more than 50 scientists. Our R&D pipeline is aligned with our customers’ needs, and we have projects ongoing that will help the organization continue to grow for the coming years to come. We continue to prioritize products that can achieve meaningful scale and contribute significantly to long-term revenue growth. Accordingly, we have decided to enhance our planned capital expenditure for FY27 from Rs. 125 crores to Rs. 250 crores. The supporting infrastructure for this CAPEX is already in place. The investment will primarily be directed towards constructing two new production buildings at our Pakhajan facility which will be dedicated to manufacturing several high-potential products already developed through our R&D efforts. Export continues to remain a key pillar of our business, contributing approximately 69% of total revenue. We further strengthen our presence across the international market, particularly in Asia and Africa, while continuing to deepen relationships with customers in our existing geographies. Industrial chemicals remain our primary growth segment, contributing nearly 89% of total revenue during the quarter. Capacity utilization at our facilities improved to over 65%, supported by the successful ramp-up of capacities commissioned at our Pakhajan plant. We also continue to make good progress on our long-term agreement, and the project remains on track with commercialization expected in Q1 FY28, in line with the planned execution schedule. We remain committed to delivering sustainable value creation for our investors. Based on current market conditions, customer inquiries and commitments, we are targeting 30% to 40% annual revenue growth over the next few years. I would like to sincerely thank our customers, shareholders, employees, business partners, lenders, and the Board of Directors for their continued trust and support. With that, I now hand over the call to our Chief Financial Officer, who will take you through the financial performance for the quarter in greater detail. Thank you. Chirag Shah: Thank you, and good evening everyone. Page 3 of 19 Yasho Industries Limited August 03, 2026 The company maintained its strong growth momentum in Q1 FY27, reporting consolidated revenue of Rs. 308 crores. For the quarter, EBITDA stood at Rs. 74.42 crores, translating into an EBITDA margin of 24.2%. The strong profitability was driven by higher volumes, a favorable product mix, improved operating leverage, and disciplined cost management across operations. Based on the current outlook, the company will endeavor to maintain current margins going forward. Profit after tax for the quarter stood at Rs. 36 crores, resulting in a PAT margin of 11.7%. An important validation of our progress came during the quarter through the upgrades received from both CRISIL and ICRA, which upgraded our bank loan ratings from BBB+ to A-. Our net debt to EBITDA ratio improved to 1.86x as of June 30, 2026, compared with 3.75x at the end of Q4 FY26. This reflects the combined impact of higher operating earnings, improved profitability, and disciplined financial management. We also achieved meaningful progress in working capital management. Our working capital cycle improved from 190 days to 143 days, supported by better inventory planning, improved receivables management, and tighter control over cash deployment. During the quarter, we incurred capital expenditure of Rs. 18.73 crores, primarily towards ongoing expansion of our Pakhajan facility. As I highlighted earlier, we have increased our FY27 capital expenditure plan to Rs. 250 crores in order to support additional manufacturing capacities f [Showing first 8,000 characters — download PDF for full document]