Analysts/Institutional Investor Meet/Con. Call Updates

AIA Engineering Limited August 14, 2026 To, The Manager (Listing), The Manager (Listing), National Stock Exchange of India Limited The BSE Limited "Exchange Plaza", C-1,Block - G, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (E) Dalal Street, Mumbai -- 400 051 Mumbai - 400 001 Script Code: AIAENG Script Code: 532683 Dear Sir/Madam, Sub: Transcript of the Investors' Conference Call held on August 12, 2026 Pursuant to Regulations 30 and 46(2)(oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Transcript of Conference Call held between the Company and Investors on Wednesday, August 12, 2026 to discuss the Unaudited Financial Results and performance of the Company for the Quarter ended 30" June, 2026. The aforesaid transcript is also being hosted on the website of the Company, www.aiaengineering.com in accordance with the Regulation 46 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kindly take the same on record. Thanking you. Yours faithfully, For AIA Engineering Limited S. N. Jetheliya Company Secretary Encl.: As above CIN : L29259GJ1991PLC015182 An ISO 9001 Certified Company Corporate Office : 11-12, Sigma Corporates, B/h. HOF Showroom, Off S. G. Highway, Sindhu Bhavan Road Bodakdev, Ahmedabad 380 054. Gujarat, INDIA. Ph.: +91-79-66047800 Fax. +91-79-29900194 Registered Office: 115, G.V.M.M. Estate, Odhav Road, Odhav, Ahmedabad - 382415. Gujarat, fNDIA. Ph.. +91-79-22901078 Fax: +91-79-229010771 www.aiaengineering.com, E-mail: ric@aiaengineering.com “AIA Engineering Limited Q1 FY27 Earnings Conference Call” August 12, 2026 MANAGEMENT: MR. KUNAL SHAH – EXECUTIVE DIRECTOR (CORPORATE AFFAIRS) – AIA ENGINEERING LIMITED MR. SANJAY S. MAJMUDAR – NON-EXECUTIVE – NON- INDEPENDENT DIRECTOR – AIA ENGINEERING LIMITED Moderator: Ladies and gentlemen, good day, and welcome to the AIA Engineering Limited 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 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 the management of AIA Engineering Limited. Thank you, and over to you. Kunal Shah: Yes. Hi. Thank you so much. Hello, everyone. Good evening. This is Kunal, and as usual, we have Sanjay bhai and I doing this call for the first quarter of fiscal year '27, uneventful quarter where most of the line items and, you know, commentary, I think, reflects all that we have spoken over last few quarters. I will nevertheless sum up the headline figures and numbers and we can get into Q&A after that. So, we are at about we had 64,644 tons in the first quarter that compares to 60,000 odd that we did in the first quarter last year and translating into sales of INR1,153 crores and EBITDA of INR44 crores, INR24 crores and a profit after tax of INR301 crores. The tax item when you look at sequential numbers, if you recall, the tax amount in the fourth quarter had a refund that we had gotten, which is why that number was a little lower than what we have historically. This Page 1 of 19 AIA Engineering Limited August 12, 2026 time because it's the first quarter tax will normalize, I think it's about 23%. It'll normalize at about 21.5%, 22% overall. I think the rest of the figures we have a data sheet that we had uploaded. I think numbers remain at par. Operating income which is export benefits at INR14.78 crores, treasury income at INR85.35 crores and foreign exchange currency gain of about INR25 crores leading to a total other income of INR110 crores plus the 14 -- INR124 crores, sorry. I think working capital at par, no major update on tonnages. I think they are broadly the way we have seen. From a business standpoint, I think what we had explained and spoken about last quarter was about the new generation discharge system. That system, we believe, dramatically influences operating conditions in terms of throughputs and fines and other variables that influence the working conditions at the mine site. It solves for the top three issues at a plant site, most importantly, the falling yield, you know, of gold and copper metal. And that's an intervention that's very unique to us. It's a sum total of everything that the company has done over these many years. It is a new system, and the trial and commercial implementation, you know, follows a whole life cycle. We've done similar work at cement plants where the mill sizes and the throughputs are significantly lower. So, for example, a typical cement mill for 1 million ton plant would be, let's say, 30 tons an hour and a 20% improvement is 6 tons of improvement, and which is a material improvement at a at a cement plant. That 30 tons an hour can be as high as 2,000 tons, 3,000 tons an hour in a mining site. And anything that we do as an intervention is now an order of 70, 80 times more, you know, abusive operating condition. And the process knowledge and design implications on such systems are something that, you know, we are learning, we are applying, we are going through iterations. So when we took this the strategy is to, you know, the mill sizes vary from what we would call a small size to a larger size without getting into the minutiae or the details, I mean that's not beyond a point relevant. The point is that we start with smaller mills, then go to a, you know, medium-sized mills, and then the larger mills. All three are a pocket of opportunity. We've had successful trials at the smaller sizes. Now we are doing at the medium and the larger sizes. And, you know, this journey of doing a trial, the iteration is uncertain in a way that it could take 3 months, it could take 2 years because every mine site is different, operating conditions are different, and, you know, all of that will lead into an optimized design and optimized system that delivers on the throughput, right? So, having said that, we continue our work on grinding media, the recovery improvement, the reagent improvement that our portfolio of grinding media. Then there is the, you know, the mill lining and the discharge system now as a solution. And in that, we have, I think, for next three or four quarters our updates may continue to be bland in terms of just saying status quo because some things may perform, some things may need an iteration. And that is an iterative process. I don't think will be able to forecast on what it means. Page 2 of 19 AIA Engineering Limited August 12, 2026 So, having said that, this quarter has been continues at status quo, all numbers I think there is no large macro events that have impacted us or, you know, we worry about. We will continue to keep doing the same for next, you know, year or more, and hopefully, there are there is good news to share on top of that. With that caveat, I'll have Sanjay bhai share his, you know, thoughts, and we can go on to Q&A. Sanjay S. Majmudar: Yes. Hi. Thanks, Kunal. So, good afternoon, everyone. Couple of points from my side. If you would have seen Q4 to Q1, you may observe a decline in the EBITDA percentages, reported at 36% and operating at around 27.8%, 27.9%. So, two, three factors I just want to draw your attention to so that, I mean, sort of preempting certain questions. So, one is if you compare FX Q4 to Q1, there's a sharp drop. So, the foreign exchange gain which was about INR65 crores in Q4 has come down to about INR25 crores. That's point number one. That's part of the other non-operating income, but then it nevertheless gets reported. Second is you would have seen major contributor is the product mix. So, in the past, we have said that in a given quarter, if the product mix is extremely favorable in terms of bigger castings going more, then the needle will move into a much better m [Showing first 8,000 characters — download PDF for full document]