Transcript of the Earnings Conference Call held on August 06, 2026

BIKAJI FOODS INTERNATIONAL LIMITED F 196-199, F 178 & E 188, Bichhwal Industrial Area, Bikaner, Rajasthan, India – 334006 T: +91-151-2250350 | E: cs@bikaji.com | W: www.bikaji.com CIN: L15499RJ1995PLC010856 | GST No.: 08AAICS1030P1Z5 Ref: BFIL/SEC/2026-27/48 Date: August 12, 2026 Dept of Corporate Services The Listing Department 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 (Maharashtra) Mumbai 400 051 (Maharashtra) Scrip Code: 543653 Trading Symbol: BIKAJI Subject: Transcript of Earnings Conference Call for the quarter ended on June 30, 2026 Dear Sir/ Madam, We hereby inform you that in continuation to our letter bearing Ref. BFIL/SEC/2026-27/37 dated July 22, 2026 and pursuant to the requirements of Regulation 30, read with Part A of the Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), as amended, from time to time, an Earnings Conference Call with the Investors and Analysts to discuss the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended on June 30, 2026 was conducted on Thursday, August 06, 2026 at 12:00 P.M. IST. Please find enclosed herewith the transcript of the Earnings Conference Call. In compliance with the Regulation 46 of the Listing Regulations, the said transcript of the Earnings Conference Call is also hosted on the website of the Company and same can be accessed atwww.bikaji.com. You are kindly requested to take the same on record. Thanking you Yours faithfully, For Bikaji Foods International Limited Rahul Joshi Head – Legal and Company Secretary Membership No.: ACS 33135 Enclosure: As Above Corporate Office: E - 558 - 561, C - 569 - 572, E - 573 - 577, F - 585 - 592, Karni Extension, RIICO Industrial Area, Bikaner, Rajasthan - India – 334004 | T: +91-151-2250350 “Bikaji Foods International Limited Q1 FY’27 Earnings Conference Call” August 06, 2026 MANAGEMENT: MR. RISHABH JAIN – CHIEF FINANCIAL OFFICER – BIKAJI FOODS INTERNATIONAL LIMITED MR. MANOJ VERMA – CHIEF OPERATING OFFICER – BIKAJI FOODS INTERNATIONAL LIMITED MODERATOR: MR. AMBESH TIWARI – S-ANCIAL TECHNOLOGIES PRIVATE LIMITED Page 1 of 15 Bikaji Foods International Limited August 06, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Bikaji Foods International Q1 FY27 Earnings Conference Call. 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. I now hand the conference over to Mr. Ambesh Tiwari. Thank you and over to you, Ambesh. Ambesh Tiwari: Good afternoon, everyone and thank you for joining the Bikaji Foods International Q1 FY27 Earnings Conference Call. From the management team, we have with us Mr. Rishabh Jain, CFO and Mr. Manoj Verma, COO. I will now request Mr. Rishabh Jain to take us through the key opening remarks, after which we will have the floor open for Q&A session. Thank you and over to you, sir. Rishabh Jain: So thank you very much. Thank you to all the investors. So this quarter, we've grown at close to 12.5%. This quarter is a story of 2 halves, where, in first 45 days, there has been supply and production issue for 2 reasons largely. One, of course, our Chairman is no more with us. So, there are 3, 4 days of plant impact across the pan-India. And number two, there were Bengal elections. So, there are a lot of movement of Bengali labor. But, post 45 days, we've seen a great demand across all product range, be it Ethnic Snacks, Western Snacks. So from primary lens, we're growing at 12.5%, but what we see from secondary, so we're seeing good secondary tertiary overall in first 45 days also. June, July, we're seeing good growth in demand and overall this festivity, we entering into festivity this month, being Rakhi and next Diwali. So, we are getting very good response from our organized retailers seeing good growth and maintaining 15% plus growth overall this year. That's what overall target is. From bottom line lens, what we're seeing that there are multiple pressures, be it edible oil, due to this geo-political issue and less rainfall. So, it is also having some impact on few pulses, be it moth dal and chana dal, all have started increasing this year. But, yes, we have taken 2 price rise in the last 4 months and we are trying to maintain and trying to passing on the price to the consumer. We have taken one MRP increase in April, but, till now, we're not taking any MRP increase. And what we see that till Diwali, we will maintain this price what we're doing because as we enter into festivity, a lot of gift box and everything has been started. So that's what number one. From EBITDA lens, this quarter, our EBITDA was close to 13.5% versus last quarter, our EBITDA was close to 12.2%. So there was good increase in EBITDA margin compared to last quarter. Page 2 of 15 Bikaji Foods International Limited August 06, 2026 From capacity lens, largely, our new ASRS investment hasn’t gone live this month. So, we’ve close to 1 lakh square feet of construction in Bikaner, where there's a lot of supply chain business will be there going forward, where we'll keep close to additional 1.2, 1.3 lakh cartons extra to ease on supply chain. This will help in overall maintaining this minimum stock level at our key stock point. Manoj Verma: As one of our growth driver, what we have identified is the increase in reach. So, we continue to grow our direct coverage. And as we end this quarter, we are at 3,70,000 outlets plus is our direct reach, adding 17,000 outlets in Quarter 1. Talking about our marketing investment, in fact, if you look at, I mean, in this quarter, the gross margins are up, whereas, EBITDA, it has slipped down, but that's primarily one of the key factors also is that we invested heavily in this quarter as well, to build up momentum for the festive season coming ahead of us. So, Pankaj Tripathi campaign, we had in this quarter as well, which was for UP, then, some launches of our Western snacks range, new products, what we did, participation in our international exhibition as always, what we do. Coming to the business, if we look at, so delivered an overall volume growth of 7.7% and a top line value of 12.5% growth. Within this, the Ethnic Snacks have grown at 11.4%, Western Snacks at 21.3%, Sweets at 4.4%. Papad was a bit challenging for this quarter for the reasons that a little bit of early monsoon because June also, we saw that stuff. And what happens is that being handmade papad, the monsoon impacts our production as well. Talking about business from the geographies, look at core states have grown close to 11%, focus states grown close to 19% and the other states at 5.6%. Export is the only channel, where, for the first time, we have seen that almost flattish or a negative growth of 2.2%, which primarily is on account of the U.S. tariff disturbances, which is happening. And more importantly is the crude oil prices going up, which has taken up the freight 2x to 3x kind of a stuff, so, which is what has deferred certain shipments. That's where it is. Otherwise, we look at, in terms of demand, export stays as much strong for us. The mix between family and impulse pack, if we look at family pack has grown at 11%, while impulse at 10.5%. The retail business performance if we talk about, so this has grown at 71.8% Y-o-Y and our stores have increased from 15 to 28 over 1 Year. Rishabh Jain: So, from top line growth perspective, so over last quarter, our EBITDA has grown close to 13% and top line has grown close to 2%. So, EBITDA has improved compared to last quarter. So, that's all from the [Showing first 8,000 characters — download PDF for full document]