Transcript of the Investor Meet for the First Quarter ended June 30, 2026

REDTAPE LIMITED OZARK Registered Office Plot No. 08, Sector 90, Noida, Gautam MODE Je anic l Banl Buddha Nagar, Uttar Pradesh - 201305 India Tel : +91 120 6994444 | +91 120 6994400 CIN : L74101UP2021PLC156659 ‘Web : www.redtape.com E-mail : info@redtapeindia.com August 14, 2026 BSE Limited National Stock Exchange of India 1st Floor, New Trading Ring Limited Rotunda Building Exchange Plaza, 5th Floor Phiroze Jeejeebhoy Towers, Plot no. C-1, G Block, Dalal Street, Mumbai-400 001 Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Scrip Code: 543957 NSE Symbol: REDTAPE Sub: Transcript of Investor's Meet for the 1% Quarter ended June 30, 2026 Dear Sir/Ma’am, In furtherance to our intimation dated August 05, 2026, August 11, 2026 and pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015, We hereby enclose the transcript of Investor's meet for 1t Quarter ended June 30, 2026, held on Tuesday, August 11, 2026. The transcript is also available on the Company's Website https://about.redtape.com/Transcript.php. You are requested to kindly take the above information on your records. Thanking you, Yours faithfully, For REDTAPE Limited Akhilendra Bahadur Singh Company Secretary & Compliance Officer Encl: as stated above Works « C-4, 5, 36, 37, Sector - 59, Noida, Gautam Buddha Nagar, Uttar Pradesh - 201301 Tel : +91 120 4263193 * Bulk Land, UPSIDC Industrial Area, Site-ll, NH-27, Distt. Unnao, Uttar Pradesh - 209801 Tel : +91 73111 70114 * Plot No. 18-19, Nand Nagar Industrial Estate Phase-1, Mahuakheraganj, Kashipur, Udham Singh Nagar, Uttarakhand - 244713 Tel : +91 70552 21530 “RedTape Limited Q1 FY27 Earning Conference Call” August 11, 2026 MANAGEMENT: MR. ARVIND VERMA – WHOLE-TIME DIRECTOR – REDTAPE LIMITED MR. VIVEK AGNIHOTRI – CHIEF FINANCIAL OFFICER – REDTAPE LIMITED MODERATOR: MS. KASTURI SHARMA – E&Y Page 1 of 14 RedTape Limited August 11, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 & FY27 Earnings Conference Call for RedTape Limited, hosted by EY. 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 Ms. Kasturi Sharma from E&Y. Thank you, and over to you, Ms. Sharma. Kasturi Sharma: Thank you so much, Danish. Good morning to all the participants on the call and thank you so much for joining us. Before we proceed, let me quickly remind you that the discussion today may contain some forward-looking statements that may involve known or unknown risks, uncertainties and other factors. It must be viewed in conjunction with our business risks that could cause future results, performance or achievements to differ significantly from what is expressed or implied by such statements. Please note that the results and earnings collateral have been emailed to everyone and the same are also available on the company's website. In case you haven't received these, you can write to us and we will be happy to send them over to you. Now to take us through the results and answer your questions today, we have the management of RedTape Limited represented by Mr. Arvind Verma, Director and Mr. Vivek Agnihotri, the Chief Financial Officer. We will start the call with a brief overview of the quarter gone by followed by the Q&A session. With that said, I'll hand over the call to Mr. Verma. Over to you, sir. Arvind Verma: Thank you, Kasturi. Good morning, everyone and thank you for joining us on the call today. Before I get into the numbers, let me first set the context for the quarter. Q1 FY27 was a mixed quarter for discretionary consumption. The earlier part of the quarter saw some softness reflecting broader macro headwinds and cautious consumer spending before demand trends improved as the quarter progressed. The longer-term drivers for branded footwear and apparel such as organized retail, broader acceptance of branded products, premiumization and omnichannel buying behavior remain in place. At the same time, the quarter also saw near-term unevenness across channels and pressure across key cost lines including inputs, labour and sourcing. For RedTape, the operating stance during the quarter was clear. We chose to protect consumer value and manage the cost environment through sharper execution across sourcing, supply chain and retail operations without taking price increases. This discipline also translated into a strong bottom-line outcome. Profit after tax grew 19.4% year-on-year to INR47 crores, marking RedTape's highest ever Q1 profit in absolute terms. The performance was achieved despite wage-related pressures in key manufacturing states, reflecting the strength of the operating model built across the business. Page 2 of 14 RedTape Limited August 11, 2026 Revenue on a standalone basis grew by 3.7% year-on-year, reflecting the resilience of the core India business despite an uneven demand environment in the early part of the quarter. This is a more relevant indicator of underlying performance as it captures the strength of our primary business across retail and domestic channels. The growth was delivered while absorbing key operating cost headwinds, reinforcing the importance of execution-led efficiencies and disciplined channel management during the quarter. In the e-commerce channel, online marketplaces continued to push for higher discounting to drive turnover. Our approach remained measured and disciplined. RedTape does not believe in pursuing volume at the cost of brand strength or margins and therefore chose not to participate in incremental discounting beyond levels we considered appropriate. This had a near-term impact on e-commerce turnover. However, it helped protect channel profitability and ensured that the online business remained aligned with our broader profitability- first approach. After some softness in the early part of the quarter, the core India retail business saw improving trends and continued to perform well overall. This remains an important indicator of the underlying health of the business, reflecting the strength of the store-led model, RedTape's consumer proposition and demand across our primary operating channels. On profitability the quarter reflected efficiencies across sourcing, supply chain and retail operations. The key point is that we were able to protect margins without compromising either our pricing architecture or our consumer proposition. Average selling prices improved sequentially across footwear and apparel categories, including select categories such as open footwear. This was driven by product and category mix within the existing price architecture rather than broad-based price increase. On the numbers specifically, standalone revenue for Q1 FY27 was INR480 crores compared with INR460 crores in Q1 FY26, reflecting growth of 3.7% year-on-year. Gross margin stood at 47.5%, EBITDA margin was 20.4% and PAT came in at INR47 crores compared with INR39 crores year-on-year. Moving to some key business highlights for the quarter. There was a strategic portfolio expansion in April 2026, RedTape acquired the rights to the globally recognized sportswear brand Sprandi for India, Bangladesh, Nepal, Bhutan, Sri Lanka and some other countries, strengthening its sports and athleisure portfolio. The brand is expected to be launched in India through online and retail channels by end of September. E-commerce discipline, the company consciously avoided excessive marketplace- led discounting, prioritizing brand integrity and healthy margins over short-term turnover growth. The core India retail business remained healthy with demand improving as the quarter progressed after a softer start. ASP improvement was supported by a better product and category [Showing first 8,000 characters — download PDF for full document]