Analysts/Institutional Investor Meet/Con. Call Updates

August 10, 2026 The Manager, The Manager, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 500413 Scrip Code: THOMASCOOK Fax No.: 2272 2037/39/41/61 Fax No.: 2659 8237/38 Dear Sir/ Madam, Sub: Transcript of the Analyst and Investor Earnings Conference Call In furtherance of our intimations dated July 21, 2026, August 3, 2026 and August 4, 2026 giving intimations for the Q1 FY27 Earnings Conference Call for the analysts and investors and pursuant to Regulations 30 and 46(2)(oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please note that the transcript of the Earnings Conference Call held on August 4, 2026 has been uploaded on the website of the Company within the prescribed timeline and can be accessed on the following web link: https://resources.thomascook.in/downloads/TCIL_Q1_FY27_Earnings_Call_transcript_final.pdf This is for your information and records. Thank you. Yours faithfully, For Thomas Cook (India) Limited Amit J. Parekh Company Secretary and Compliance Officer Encl a/a Thomas Cook (India) Limited: Q1 FY27 Earnings Conference Call – August 4, 2026 Management: Mr. Mahesh Iyer: Managing Director and Chief Executive Officer – Thomas Cook (India) Limited Mr. Vishal Suri: Managing Director and Chief Executive Officer – SOTC Travel Limited Mr. Vikram Lalvani: Managing Director and Chief Executive Officer – Sterling Holidays Resorts Mr. K. S. Ramakrishnan: Managing Director and Chief Executive Officer – DEI Mr. Debasis Nandy: President and Group Chief Financial Officer – Thomas Cook (India) Limited Mr. Brijesh Modi: Chief Financial Officer – Thomas Cook (India) Limited Mr. Krishna Kumar: Chief Financial Officer – Sterling Holidays Resorts Moderator: Ladies and gentlemen, good day, and welcome to Thomas Cook (India) Limited Q1FY27 Conference Call hosted by Systematix Shares & Stocks. 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 conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Chetan Mahadik. Thank you, and over to you, sir. Chetan Mahadik: Thank you, Sanya. Welcome, everyone, and thank you for joining us today on the Thomas Cook (India) Limited Q1FY27 Earnings Conference Call. From the company, we have with us Mr. Mahesh Iyer, the Managing Director and Chief Executive Officer and the senior management team. We would like to begin the call with brief opening remarks from the management and following which, we will have the forum open for an interactive Q&A session. I would now like to invite Mr. Mahesh Iyer to make the initial remarks. Thank you, and over to you, sir. Mahesh Iyer: Thank you, Chetan. Good afternoon, everyone, and thank you for joining us as we discuss the Q1FY27 financial and operating performance. Before we begin, I would like to introduce the management team joining me on the call today. I have with me on the call, Vikram Lalvani, Managing Director and CEO of Sterling Holiday Resorts; K.S. Ramakrishnan, Managing Director of DEI; Vishal Suri, Managing Director of SOTC; Debasis Nandy, who is the Group CFO; Brijesh Modi, who is the CFO at Thomas Cook (India) Limited; and Urvashi Butani, who heads Investor Relationship. Now coming to our performance. The first quarter of FY27 was, in many ways, a good test of the resilience of our business. It reinforced that our performance is increasingly being shaped by decisions within our control, i.e where we choose to allocate our capital, the customer segments and markets we prioritize and our ability to execute with discipline while continuing to invest for future growth. I am pleased to share that this was reflected across almost every part of our portfolio. Our India businesses led by foreign exchange, MICE and corporate travel continue to deliver healthy momentum and stable operating performance. Sterling Holidays delivered strong growth during the quarter, reflecting sustained demand, disciplined execution and the strength of its leisure hospitality business. Importantly, the impact of the conflict in West Asia was limited to a few businesses with direct exposure to the region, primarily Desert Adventures, our destination management business in the Middle East, DEI and parts of our long-haul outbound travel portfolio. While these businesses weighed on our reported performance, the diversified nature of our portfolio helped absorb much of the disruption with the broader business continuing to perform steadily and demonstrating the resilience of our operating model. Consolidated total income for the quarter stood at INR 21,530 million, a decline of 12% year-on- year. Excluding the business impacted by the geopolitical disruptions, our India operations remained stable on a year-on-year basis. Excluding the GCC-based subsidiaries, (DEI and Desert Adventures), the consolidated results of the group registered a growth of 8% at an EBIT level for the quarter, highlighting the resilience of our underlying businesses. Profit before tax for the quarter stood at INR 885 million, down 21% Y-o-Y, primarily due to the underperformance of Desert Adventures and DEI, our Middle East operations. With that context, let me now take you through the performance of each of the businesses and the key drivers that shaped the quarter. Starting with foreign exchange business, which delivered a positive performance during this year with segment revenue growing by 6%, EBIT by 8% and EBIT margins at a healthy 45.3%. If you look at the LRS data, as published by RBI, for the period April and May '2026, across the three relevant categories: Education, Travel-related foreign exchange and Remittances - the education industry saw a decline of 27%, Travel-related Forex saw a decline of 8% and remittance declined by 14%. Correspondingly, to give you a like-to-like comparison, our travel segment for the same period largely aligned with the industry trend, which is a decline of about 8%. However, on the education portfolio, we actually grew by 17%. Our overall retail portfolio delivered an 8% Y-o-Y growth in turnover for the quarter, outperforming the underlying market. Following a relatively softer April and broadly stable May, June delivered a stronger performance than the previous year, reflecting improved business sentiments. Our education portfolio remained a key growth driver, with turnover increasing by 36% year-on- year. • This performance was supported by continued investments in our distribution and stronger partnership across leading NBFCs. • We also witnessed encouraging traction from our Study Buddy Card program launched in partnership with Visa during the quarter. Our corporate business portfolio recorded 9% growth in turnover, driven by higher wallet share from our existing relationships, new client acquisitions and continued expansion of our corporate relationships. Our digital channels continued to gain traction during the quarter, reflecting our continued investment in strengthening our omnichannel proposition. • Digital penetration improved to 23.5% compared to 20.4% last year, supported by higher customer engagement across our website. Transactions increased by 38%, TCPay app where our bookings increased threefold and WhatsApp channel, which saw a strong traction of 80- plus percent growth over the comparable period. • We also continue to expand our digital distribution through quick commerce platform, Blinkit, enhancing convenience and accessibility for customers. We saw a 34% increase in the number of cards sold via this platform and are now present in 12 cities. We cont [Showing first 8,000 characters — download PDF for full document]