Analysts/Institutional Investor Meet/Con. Call Updates

No. RITES/SECY/NSE Date: August 11, 2026 To To (cid:871)लि(cid:232)टंग (cid:874)वभाग, कॉप(cid:574)रेट संबधं (cid:874)वभाग, नेशनल (cid:232)टॉक ए(cid:200)सच(cid:581)ज ऑफ इं(cid:875)डया (cid:871)ल(cid:871)मटेड, बीएसई (cid:871)ल(cid:871)मटेड, ए(cid:200)सच(cid:581)ज (cid:220)लाजा, सी -1, (cid:222)लॉक जी, बा(cid:289)ं ा - कुला(cid:91) रोटुंडा (cid:466)बि(cid:227)डंग, कॉ(cid:224)(cid:220)ल(cid:200)े स, बा(cid:289)ं ा (पूव)(cid:91) , पी ज ेटावस,(cid:91) दलाल (cid:232)(cid:282)(cid:547)ट, फोट(cid:91), Listing Department, Corporate Relationship Department, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, C-1, Block G, Bandra - Rotunda Building, Kurla Complex, Bandra (E), P J Towers, Dalal Street, Fort, Mumbai – 400051 Mumbai - 400 001 Symbol- RITES Scrip Code- 541556 Subject: Outcome of Investors/ Analysts Meet - Transcript of the Conference Call held to discuss Unaudited Financial Results for quarter ended June 30, 2026. Dear Sir/ Madam, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, and amendments thereof, please find enclosed herewith Transcript of the Conference call with analysts and investors held on August 5, 2026 to discuss the Unaudited Financial Results of the Company for the quarter ended on June 30, 2026. Kindly take the same on record. Thanking You, Yours sincerely, For RITES Limited Nikhil Agarwal Company Secretary & Compliance Officer Membership No.: A42626 RITES Limited Q1 FY27 Post Earnings Conference Call Event Date/Time : 05/08/2026, 11:00 Hrs. CORPORATE PARTICIPANTS: Mr. Rahul Mithal Chairman & Managing Director Dr. Deepak Tripathi Director (Technical) Mr. Krishna Gopal Agarwal Director (Finance) & Chief Financial Officer Mr. Prem Singh Meena Director (Projects) RITES Limited Q1 FY27 Post Earnings Conference Call 05.08.2026 Moderator Good morning, ladies and gentlemen. I am Kartikeyan, moderator for the conference call. Welcome to RITES Limited Q1 FY27 Post Earnings Conference Call. We have with us today Mr. Rahul Mithal, Chairman & Managing Director, RITES Limited; Dr. Deepak Tripathi, Director (Technical); Mr. Krishna Gopal Agarwal, Director (Finance) & Chief Financial Officer; and Mr. Prem Singh Meena, Director (Projects). As a reminder, all participants will be in 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 * and then 0 on your touch-tone telephone. Please note this conference is recorded. I would now like to hand over the floor to Mr. Rahul Mithal CMD, RITES Limited. Thank you, and over to you, sir. Rahul Mithal Good morning, everyone. Thank you. Let me start with giving the safe harbor statement. The presentation and the press release, which we uploaded on our website and exchanges yesterday. And discussions during the call today may have some forward-looking statements. These statements consider the environment we see as of today and obviously carry a risk in terms of uncertainty, because of which the actual results could be different, and we do not undertake to update those statements periodically. Let me give you a brief overview of the Q1 performance the way we see it. We are quite upbeat and confident in the way Q1 has panned out in terms of the roadmap, which we have set ourselves at the beginning of the FY. As you recall, that was primarily due to the all-time high order book of last year which has started to generate revenue and we have a substantial growth YoY in the overall FY. Having said that, while the Q1 has been in YoY good growth of 9-10% and bottom line also about 8%, We need to really step on the gas and keep on improving the execution sequentially over the coming quarters, so that the entire FY is as per the guidance, which I had laid down at the beginning of the FY of having a substantial growth vis-à-vis the last entire FY. That in a nutshell is how we see the performance of Q1 and the quarters going forward. I'll go into details as I answer specific questions. Moderator Thank you, sir. Ladies and gentlemen, we will now begin the question-and-answer session. If you have a question, please press, * and 1 on your telephone keypad. In the interest of time and fairness to all RITES Limited Q1 FY27 Post Earnings Conference Call 05.08.2026 participants, you are requested to restrict yourself to one question per participant. Time permits, you may join back the question queue. We have the first question from the line of Mahesh Tolani from Go Quarter. Please go ahead. Mahesh Tolani, your line is unmuted. Please go ahead with your question. There seems to be no response. Next question comes from the line of Bipul Kumar from Narnolia Financial Services. Please go ahead. Bipul Kumar Thank you for the opportunity first. My first question was regarding the export side. As management has said, key revenue recognition will start from first rake in July 2026, from the Bangladesh order. Why the revenue recognition was not coming in the first quarter? Rahul Mithal Bipul, in our export business, as you would be aware, the revenue recognition happens in the entire stock, whether it's a bunch of locomotives or in case of coaches, let's say Bangladesh order, the entire rake of 20 coaches is sent as a group. While the coaches are getting ready in bits and portions, the entire rake will be shipped out in the next 10 days. That's why the entire revenue recognition will take place in a group in the Q2 for the first rake. Subsequently, these will be in the successive rakes. In terms of why did not happen in Q1, because you see this is the first rake and has about four types of coaches. If you recall my last call, in that I had mentioned that the prototypes have got approved and the mass production has started. Basically, being the first rake in terms of the approval of the final rake has taken a few days, and now the rake is in the final stages of being dispatched. We foresee that the subsequent rake should take a little lesser time per rake because of the designs now getting approved and accepted. Moderator Thank you. The next question comes from the line of Vishal Periwal from PL Capital. Please go ahead. Vishal Periwal Yes, sir. Thanks for the opportunity. Sir, with respect to export order, can you give the breakup of order which is pending from Bangladesh, Mozambique and others? RITES Limited Q1 FY27 Post Earnings Conference Call 05.08.2026 Rahul Mithal We have an total RITES’ order book, let me include both the export and consultancy (foreign), is INR 2,100 crores. Out of that, about INR 1,775 is the export of rolling stock and out of that, about INR 900 odd crores is the order from Bangladesh, which is about 200 coaches. The rest of the orders are for locomotives, both from Mozambique as well as the in-service locomotives, etc., from the various countries in the African geography. Broadly, if I put it, it's about 50% of the export order book is for these coaches to Bangladesh and the balance is for the locomotives. Vishal Periwal In terms of variation, could their be revenue booking on a quarterly basis. But in terms of our timeline, Bangladesh, can we conclude all our order delivery this year? Second, Mozambique, will it start anything this year or it will move to FY28? That's my last question, sir. Rahul Mithal In terms of Bangladesh, these are 200 coaches, so roughly about 10 rakes each. The first rake starting now in this month, we will not be able to complete all the 10 rakes in this year. Contractually, also, we have time till next year. We foresee that, yes, it will definitely get completed in the next FY. The coming quarters will tell us how many maximums we can push in this. Because the first rake, once it goes and stabilizes, it will hasten up the speed of the subsequent rakes. But definitely, yes, it will get completed in next FY, maybe somewhere the [Showing first 8,000 characters — download PDF for full document]