Transcript of Investor/Analysts conference Call for the unaudited Financial Results of Q1 FY27

Ref No: MSAFE/SE/2026-27/38 Date: 13.08.2026 Corporate Relationship Department BSE Limited, Phiroze Jeejeebhoy Towers Dalal Street, Mumbai - 400001 BSE Scrip Code: 544695 Subject: Transcript of the Investors/Analysts Conference Call for the unaudited financial Results of Q1 FY 27 Dear Sir/Madam, Pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of investors/analyst conference call held on Tuesday, August 11, 2026 at 04:00 P.M. (IST) for un-audited financial results of the Company for the quarter ended June 30 2026. The said transcript will also be available on the Company’s website at www.msafegroup.com. Kindly take note of the same in your records. Thanking You, For Msafe Equipments Limited Renuka Uniyal Company Secretary & Compliance Officer M No. A71663 MSAFE EQUIPMENTS LIMITED (FORMERLY KNOWN AS MSAFE EQUIPMENTS PRIVATE LIMITED) CIN: L29309DL2019PLC353936 Registered Office: C-186, Vivek Vihar, Phase-1, Jhilmil, Delhi-110095 Phone No. 9859857500, Email Id: info@msafegroup.com Web: www.msafegroup.com “Msafe Equipments Limited Q1FY27 Earnings Conference Call” August 11, 2026 MANAGEMENT: PRADEEP AGARWAL - CHAIRMAN AND MANAGING DIRECTOR SOMBIR BISLA - CHIEF FINANCIAL OFFICER (CFO) Organized by: Moonwalk Capital Registered Office: C-186, Vivek Vihar, Phase-1, Jhilmil, Delhi-110095 Email Id: cs@msafegroup.com Web: www.msafegroup.com Operator: Good evening, everyone. Welcome to the Q1 FY27 earnings conference call of Msafe Equipments Ltd. Please note that this call is being recorded. As part of the safe harbor, I would like to inform you that this call may contain certain forward-looking statements and should be viewed in conjunction with the risks and uncertainties related to the company's matters. On behalf of Moonwalk Capital, I would like to thank the management of Msafe Equipments Ltd. for giving us the opportunity to host the conference call. From the management side, we have Mr. Pradeep Agarwal, who is the Chairman of the company; Mr. Renuka Uniyal, who is the Company Secretary; and Mr. Sombir Bisla, who is the CFO of the company. I would now like to hand over to Mr. Pradeep Agarwal for his opening statement. Pradeep Agarwal - Chairman: Good afternoon, everyone. First of all, I would like to welcome everybody to this Q1 FY27 opening conference call. From IPO commitment to ground-level execution, this is how I see the first year of our performance. This is the first quarter after the IPO for which we are providing the results. Although we have given the year-ended result of FY26... Msafe... [unclear] Hello? Operator: Yes, yes, sir. Please continue. Pradeep Agarwal - Chairman: So this is the first quarter of our presentation and our results. Going forward, I would like to explain how I look at this first-quarter performance. Our first priority in this quarter was capacity expansion and addressing the capacity constraint that I am facing. Our first priority was to address the capacity constraint in our MS scaffolding business. Instead of waiting for our new facility, we proactively added capacity through temporary rented premises. This early expansion is now translating into the business. In Q1 FY27 alone, our MS rental business grew 7x year-on-year, while the aluminum rental business grew 24% year-on-year. The rental business grew to now contribute 46% of our revenue, despite the volatile economic environment. Even in this volatile environment, we were able to maintain an operating margin of 40%. Despite the inflationary environment and the investments being made to support growth, we maintained an EBITDA margin of 40%. The increasing contribution from the rental business, better deployment, and operating leverage helped us absorb the pressure on costs. As we expand into new product categories, the business mix can evolve from quarter to quarter. This is evident from the sheet provided to you, as we have forayed into the formwork business, for which some machinery has already been put in place. As we expand into new product categories, the business mix can evolve from quarter to quarter. Our focus, therefore, remains on profitable growth rather than optimizing the margin for a single quarter. Our new facility is a major milestone. Our own integrated manufacturing facility is coming up in Kosi Kotwan near Mathura. Civil construction has already commenced, and we continue to target commencement of operations by May 2027. This facility is being developed not merely to increase our capacity, but as an integrated manufacturing platform capable of supporting our future requirements across scaffolding, rental equipment, and new product categories. As previously communicated, the new facility will have a capacity of 90 lakh kg per annum. That is an additional augmentation in our scaffolding business, which we had already augmented by 30 lakh kg in the rented premises earlier. Our broader aim is to build a scalable, rental-led platform across safety equipment and innovative building materials, focusing particularly on categories where organized penetration remains low or differentiated solutions remain unserved in India. Our entry into aluminum formwork is one step in this direction. We are progressing toward a 500-ton-per-annum capacity, targeted to commence from December 2026. As we move through FY27, our priorities remain straightforward: scale the rental business, execute our capacity expansion, commercialize formwork, and maintain discipline in profitability and capital allocation. Basically, in the next quarter, I am focusing more on capacity utilization and capacity expansion. That is the key area for this IPO. Our main motive is to expand ourselves and become a great access solutions company. I will now hand over to Mr. Sombir Bisla, our CFO, for the financial results. Somveer, please. Sombir Bisla - CFO: Good afternoon. This is Sombir Bisla, I am pleased to present the financial performance for the quarter ending June 30, 2026. The company has started FY27 on a positive note. During the quarter, our revenue from operations stood at ₹31.79 crores, compared with ₹22.72 crores in the corresponding quarter of the previous year, representing strong year-on-year growth of approximately 40%. Our profit before tax stood at ₹9.73 crores, compared with ₹6.65 crores in Q1 FY26, reflecting growth of approximately 46%. The company reported a net profit of ₹7.27 crores, compared with ₹5.04 crores in Q1 FY26, representing growth of approximately 44.31%. Going forward, our key priorities will be sustained revenue growth, improving operational efficiency, maintaining disciplined cost management, and strengthening profitability. We also continue to focus on efficient financial management and ensuring that growth is supported by a strong and sustainable financial position. Overall, the Q1 performance gives us confidence in the company's growth trajectory, with continued focus on execution, operational efficiency, and financial discipline. We remain committed to delivering sustainable and profitable growth and creating long-term value for our stakeholders. Thank you. Operator: Thank you for the opening remarks. We will now open the floor for participants to ask questions. Anybody who wishes to ask a question may raise their hand. Participants are requested to stay on mute. The first question is from the line of Nishita Shanklesha from Sapphire Capital. Nishita, please unmute and ask your question. Nishita Shanklesha - Sapphire Capital: Yes. Am I audible? Operator: Yes, you are audible. Nishita Shanklesha - Sapphire Capital: Congratulations on such a good set of numbers. I had a few questions. My first question is regarding the new capacity, where you are adding around 40 lakh kg of capacity 10 lakh kg in aluminum and 30 lakh kg in mild steel scaffolding. I wanted to understand this because, in the previous IPO call, you mentioned [Showing first 8,000 characters — download PDF for full document]