Analysts/Institutional Investor Meet/Con. Call Updates

Cello World Limited (formerly known as ‘Cello World Private Limited’) Regd. Office: 597/2A, Somnath Road, Dabhel, Nani Daman, Daman & Diu - 396 210. (India) Admin Office: Cello House, Corporate Avenue, 'B' Wing, 8th Floor, Sonawala Road, Goregaon (E), Mumbai - 400 063, (India), Tel: 022 6997 0000, e-mail: cello.sales@celloworld.com, grievance@celloworld.com Website: www.corporate.celloworld.com CIN: L25209DD2018PLC009865 August 14, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street, Exchange Plaza, C-1, Block - G, Bandra Kurla Mumbai - 400 001 Complex, Bandra (East), Mumbai - 400 051 Scrip Code: 544012 Symbol: CELLO Sub: Transcript of Investor Call Dear Sir(s)/ Madam(s), Pursuant to Regulation 30 of the Listing Regulations, copy of transcript of the Investor call held on August 10, 2026 at 10:00 a.m. (Indian Standard Time) on the audited financial results for the first quarter ended June 30, 2026, is enclosed. The said transcript is also available on the Company’s website. This is for your information and records. Thanking you. Yours faithfully, For Cello World Limited Hemangi Trivedi Company Secretary & Compliance Officer M.no. A27603 Encl: A/a “Cello World Limited Q1 FY-27 Earnings Conference Call” August 10, 2026 “E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on August 10, 2026, will prevail.” MANAGEMENT: MR. GAURAV RATHOD – JOINT MANAGING DIRECTOR, CELLO WORLD LIMITED MR. ATUL PAROLIA – CHIEF FINANCIAL OFFICER, CELLO WORLD LIMITED MODERATOR: MR. MANAN GOYAL – ICICI SECURITIES Page 1 of 18 Cello World Limited August 10, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Cello World Limited Q1 FY27 Earnings Conference Call hosted by ICICI Securities. Before we begin, a brief disclaimer: This conference call may contain forward-looking statements about the company which are based on the beliefs, opinions, and expectations of the company as on the date of this call. These statements are not the guarantees of future performance, and it may involve risks and uncertainties that are difficult to predict. 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 touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Manan Goyal. Thank you and over to you, sir. Manan Goyal: Thank you. Good morning, everyone. On behalf of ICICI Securities, we welcome you all to Q1 FY27 results conference call of Cello World Limited. Today, we have with us Senior Management represented by Mr. Gaurav Rathod – Joint Managing Director and Mr. Atul Parolia – CFO. Now, I hand over the call to the management for their initial comments on the quarterly performance. Then, we will open the floor for Q&A session. Thank you and over to you, sir. Gaurav Rathod: Thank you. Good morning, everyone, and a very warm welcome to our Earnings Conference Call. Joining me today is our CFO – Mr. Atul Parolia, and our investor relations advisor; SGA. Our financial results and investor presentation have been uploaded to the stock exchanges and are also available on our website. I hope you had an opportunity to review them. During Quarter 1 FY27, we reported revenues of Rs. 527 crores while maintaining healthy profitability. EBITDA and PAT margins stood at [Wrongly said, please read it as 22.2%] and 13.9% respectively. In our previous earnings call, we indicated that we would see a soft patch. In response to the rising input cost environment, we implemented price increases across most of our product categories. These price revisions enabled us to fetch better gross margins in a weak demand environment. The Writing Instrument division delivered a healthy performance during Page 2 of 18 Cello World Limited August 10, 2026 the quarter, registering 52% year-on-year growth, driven by a healthy contribution from the Cello brand. The Consumer Ware business, which is our largest product category, delivered a muted performance during the quarter due to multiple factors. Consumer demand continued to remain subdued as discretionary spending was impacted by inflationary pressures and the prevailing macroeconomic uncertainties. Steel bottle sales were not comparable with the corresponding period last year as we did not have the imported inventory to support demand this year. We have already commenced our in-house manufacturing of steel bottles at our Rajasthan facility. Currently, 8 manufacturing lines are operational, although they are yet to reach optimal utilization. We expect these lines to ramp up over the next few quarters, enabling us to gradually recover and cater to the demand in this category. Capacity utilization in our Glassware business remained at about 60%. Customer response to our product quality has been encouraging. However, the scale-up has been slower than anticipated, primarily due to continued dumping from China. We also saw a weaker export demand for most of our products during this quarter. Revenue from our Molded Furniture and Allied products business stood at Rs. 80 crores, broadly reflecting the prevailing industry demand trends. We also witnessed strong momentum across e- commerce channels. These channels now contribute around nearly 16.3% of overall revenues while continuing to deliver healthy profitability. In this dynamic environment and broader macroeconomic uncertainties, our focus remains on the factors within our control. During Financial Year ‘27, we will continue to strengthen our operational efficiency, rationalize our product portfolio, realign our distribution strategy, deepen market penetration and improve our working capital discipline. With a focus on maintaining strong balance sheet health and a robust operational structure, we remain confident of steadily improving our performance as demand conditions normalize and the benefits of our ongoing strategic initiatives begin to reflect in the business. With that, I would now like to handover the call to our CFO – Mr. Atul Parolia, who will take you through the financial highlights. Thank you. Atul Parolia: Thank you Gaurav. Good morning to everyone. I will be sharing the financial details for the quarter gone by: Revenues from Q1 FY27 stood at Rs. 526.7 crores. Our gross margin for the quarter stood at a healthy level of 52.4%, a sequential margin improvement. EBITDA for the quarter was Rs. 117.1 Page 3 of 18 Cello World Limited August 10, 2026 crores, translating into an EBITDA margin of 22.2%. Profit after tax stood at Rs. 73.4 crores with a PAT margin of 13.9%. In terms of revenue mix: Consumer Ware contributed 63.6% of the total revenue, followed by Writing Instrument 21.2%, while Molded Furniture and Allied products contributed revenue 15.2%. Channel wise: General trade contributed 71.1% of the total sales. The online channel increased its contribution to 16.3% from the 10.4% in Q1 FY26, with profitability remaining in line with the general trade channel. Export accounted for 7.3% of the sales, while modern trade contributed 5.3%. On the profitability count: Consumer Ware reported a gross margin of 55%, Writing Instrument delivered a gross margin of 53.8%, and Molded Furniture recorded a gross margin of 39.5%. With this, I would like to open the session for questions and answers. Moderator: Thank you very much. We will now begin the question-and-answer session. The first question is from the line of Rakshit Desai from IIFL Capital. Please go ahead. Percy Panthaki: Hi sir. This is Percy Panthaki here. I just wanted to understand on the Glassware unit. At the time of making the CAPEX, was the expectation that the China dumping is going to be a short- lived kind of a phenomenon? Gaurav Rathod: So, Percy, I thi [Showing first 8,000 characters — download PDF for full document]