Transcript of Q1 & FY 2026-2027 Post Earning Conference Call.

13th August, 2026 The Manager, BSE Limited, Department of Corporate Services, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001 Script Code: 514448 Dear Sir/Madam, Subject – Transcript of Q1 & FY 2026-2027 Post Earnings Conference Call We hereby submit the Transcript of Q1 & FY 2026-2027 Post Earnings Conference Call held on Tuesday, 11th August, 2026. This is for your information and records. Thanking You, Yours Faithfully For, Jyoti Resins and Adhesives Limited Utkarsh Patel Managing Director DIN: 02874427 Jyoti Resins & Adhesives Ltd Q1 FY27 POST EARNINGS CONFERENCE CALL August 11, 2026 5:00 PM IST Management Team Mr. Utkarsh J. Patel - Managing Director Mr. Samit Shah - Chief Operating Officer Call Coordinator Strategy & Investor Relations Consulting Jyoti Resins & Adhesives Ltd. (JYOTIRES) Q1 FY27 Post Earnings Conference Call August 11, 2026 5:00 PM IST Presentation Vinay Pandit: Ladies and gentlemen, on behalf of Kaptify Consulting Investor Relations team, I welcome you all to the Q1 FY27 Post Earnings Conference Call of Jyoti Residence and Adhesives Limited. Today on the call from the management, we have with us, Mr. Utkarsh Patel, Managing Director and Mr. Samit Shah, Chief Operating Officer. As a disclaimer, I would like to inform all of you that this call may contain forward-looking statements which may involve risk and uncertainties. Also, a reminder that this call is being recorded. I would now request the management to give us their opening remarks, briefing us about the business and performance highlights for the period ended June 2026, the growth plan and vision for the coming year, post which we will open the floor for Q&A. Over to the management team. Utkarsh J Patel: Ladies and gentlemen, I welcome you all to this concall for quarter one FY27. At the outset, quarter one started on a very tough note in terms of global uncertainties and unrest in West Asia, which led to the sharp spikes in crude prices and freight rates, subsequently impacting our key raw material price, which also appreciated sharply. Since we are light on inventory of raw materials as well as finished goods, we had to take the impact of the sharp rise in the raw materials price. The price increases happened gradually in May and June, and this will help normalize margins at 23% to 25% levels in quarter two. Revenue growth stood at 17%, of which nearly 10% was contributed by volumes while the balance was led by price increases. Despite a dynamic operating environment and volatility in key raw material prices, the company has continued to demonstrate resilience, disciplined execution and a clear growth orientation. Our performance in the quarter reflects the strength of our Euro brand, our deep distribution's reach and the trust we enjoy among carpenters and channel partners across India. During the quarter, we continued to strengthen our market position in the wood adhesive segment. Our business model remains anchored on three core pillars, brand-led demand creation, strong carpenter engagement, efficient manufacturing and distribution execution. Page 2 of 26 Jyoti Resins & Adhesives Ltd. (JYOTIRES) Q1 FY27 Post Earnings Conference Call August 11, 2026 5:00 PM IST One of the most important developments for our future growth is the ongoing capacity expansion program. We are progressing towards increasing our manufacturing capacity from 2,000 ton per month to 3,500 ton per month, which we believe will support the next phase of volume growth and market share expansion. This expansion is being undertaken with a long-term perspective and is aligned with our broader aspiration of building a significantly larger adhesive franchise over the coming years. This is also in line with our foray into UP and now entry into Jharkhand markets. We are also opening one more state in quarter two, details of which we will share in next quarter. We are also encouraged by the continued expansion of our carpenter network and our increasing penetration in both existing and new markets. The response to the Euro brand remains encouraging, and we believe that sustained investment in brand-building, distribution, and customer relationships will continue to strengthen our competitive position. Our registered carpenter base has increased to 210,000 carpenters. Importantly, we continue to maintain a strong balance sheet with zero debt, healthy cash generation, and robust return ratios. This financial strength provides us the flexibility to invest in growth while maintaining prudent capital allocation and shareholder focus. As we look ahead, our priorities remain unchanged. Drive volume growth, expand market reach, improve operating efficiencies, maintain healthy margins, and create long-term value for all stakeholders. We remain confident about the structural growth opportunity in the Indian wood adhesives market, supported by housing demand, furniture manufacturing, interior renovations and increasing formalization of the industry. With that, I would now be open to take questions and answers. Question-and-Answer Moderator: Thank you, sir, for your opening remarks. All those who wish to ask a question may use the option of raise hand. In case you are unable to raise just drop your question in Q&A box, and we’ll ask on your behalf. Sir, we will take the first question from Ritika Sheth. Ritika, you can go ahead. Page 3 of 26 Jyoti Resins & Adhesives Ltd. (JYOTIRES) Q1 FY27 Post Earnings Conference Call August 11, 2026 5:00 PM IST Ritika Sheth: Hello, congratulations for a decent set of top line. But there have been consistent concerns regarding the progress of our planned vision. So, considering your investor presentation, slide number 15, which states the capacity expansion, tons per month, by FY29, we plan to execute the capacity expansion from 2,000 tons in totality to 3,500 tons, right, overall. So, in that, the capacity utilization we anticipate is 60% to 70% considering. So, what is the total revenue figure you have planned before we go ahead with the Greenfield expansion? That is first question. And what are the margins which you anticipate here by FY29? So, the reason why I am very sceptical in asking you this question is because we had to plan the raw material and input cost inventory planning much beforehand, which we failed to do so for the quarter. So how do we plan to forecast to do that in the next 18 months considering the worst-case scenario that the geopolitical crisis continues and stability does not arise? So, kindly please share some and throw some light on the same. Thank you. Utkarsh J Patel: That's a very good question. So, answer to your first question is, you are very right that about 10% almost growth we have taken from quarter 1 y-o-y. So, now, about the concern about the growth plan expansion. So, as you know that about almost 60% now, we are utilizing our capacity. So that was the vision we have created. That's why we are now moving to the 3,500 ton per month capacity. And it was mentioned into quarter 2 FY27. So almost 80% work has done and within one or two months, we will be ready with this capacity. So that can generate almost INR 600 crores to INR 650 crores of revenue from here. And for the next phase, what Greenfield facility we are going to do, so, that was for the longer-term plan that were unable for the INR 1,000 crore of revenue vision. So, that will be done by the party and it will be possible with the internal accruals. So, INR 45 crores to INR 50 crore initial CapEx and mainly that 50% will be the land part and 50% will be the constructions and remaining parts, machineries and everything. So, initially we will build the additional 1,500 tonnes per month capacity into that Greenfield and phase wise we will add as per the requirement. So yes, we will be ready for that. And regarding raw material procurement, yes, you are right that we are at 30 days of inventory right now as per our revenue generations. But now we have also improved into that pa [Showing first 8,000 characters — download PDF for full document]