Transcript of earnings conference call for the quarter ended June 30, 2026

PPAP Automotive Limited GSTIN: 07AAACP5144P3Z1 & 07AAACP5144P2Z2 14th August, 2026 The Listing Department The Listing Department BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 Symbol: 532934 Symbol: PPAP Subject: Transcript of earnings conference call for the quarter ended 30th June, 2026 Dear Sir, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosing herewith transcript of earnings conference call held on Monday, 10th August, 2026 to discuss financial results for the quarter ended 30th June 2026. The transcripts are also available on Company's website at: https://www.ppapco.in/financials#conference_call_transcript This is for your information and record. Thanking you, Yours faithfully, For PPAP Automotive Limited Pankhuri Agarwal Company Secretary & Compliance Officer Registered office: 54, Okhla Industrial Estate, Phase III, New Delhi-110020 +91-011-62560000 info@ppapco.com www.ppapco.in CIN: L74899DL1995PLC073281 “PPAP Automotive Limited Q1 FY27 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. ABHISHEK JAIN – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER MR. SACHIN JAIN – CHIEF FINANCIAL OFFICER SGA – INVESTOR RELATIONS ADVISOR Page 1 of 12 PPAP Automotive Limited August 10, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q1 FY '27 Earnings Conference Call of PPAP Automotive Limited. 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 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 the conference call, please signal an operator by pressing star then zero on your touch- tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Abhishek Jain, Managing Director and CEO of PPAP Automotive Limited. Thank you, and over to you, sir. Abhishek Jain: Thank you, Avirath. Good morning, everyone, and a very warm welcome to all of you, and thank you for joining us for the PPAP Automotive Limited's Quarter 1 Financial Year '27 Earnings Conference Call. I am joined today by Mr. Sachin Jain, our Chief Financial Officer, along with our Investor Relations Advisor, Strategic Growth Advisors. While Q4 financial year '26 marked a significant turning point for the company, reflecting the positive outcomes of the sustained efforts and strategic initiatives undertaken over the past several quarters, this positive momentum has continued into quarter 1 financial year '27 as well. Quarter 4 financial year '27 had laid a strong foundation for the future through a series of long- term strategic reforms and organizational initiatives aimed at driving sustainable growth, improving efficiencies and enhancing long-term value creation. One of the key initiatives announced during the quarter 4 was the decision to bring the company and all its subsidiaries under the unified identity of the Ajay Group. This transition is intended to create a future-ready organization with a shared vision, a unified culture, stronger collaboration across businesses and enhanced strategic alignment across our diversified operations. During quarter 4, we also completed the divestment of our stake in the joint venture company and initiated the restructuring of our tooling business. As part of this restructuring, the tooling business is proposed to be hived off into a wholly owned subsidiary of PPAP under the name of Meraki Precision Tools Engineering Limited. This process is currently underway and is expected to be completed by quarter 3 of financial year '27. In addition, as part of the group's ongoing efforts to streamline operations, simplify the corporate structure and improve the efficiencies, the company has initiated the process of merging Avinya Batteries Limited with the parent entity, PPAP. The merger process is in progress and is expected to complete by quarter 4 of financial year '27. Page 2 of 12 PPAP Automotive Limited August 10, 2026 Coming to the quarter 1 of financial year '27, we have entered the new financial year with strong momentum, building on the progress achieved over the last few quarters. Higher customer production schedules, healthy demand across vehicle segments and the ramp-up of new programs have supported a robust start to this new year. Our focus continues to remain on strengthening our core automotive business, expanding our technology and manufacturing capabilities, improving operational excellence and creating sustainable long-term value through disciplined execution across all our business verticals. On a consolidated basis, the company reported revenues from operations of INR156.4 crores, representing a growth of 34.1% year-on-year. The EBITDA increased by 33.3% year-on-year to INR12.4 crores. This performance was driven by higher production volumes, improved operating leverage, better capacity utilization and disciplined execution across all our businesses. Let me now briefly discuss the performance across our key business segments. First, we'll start with the automotive part business. The industry delivered an exceptionally strong performance in quarter 1, recording its best ever quarterly sales across passenger vehicles, commercial vehicles and 3-wheelers. The growth was supported by lower GST rates, improved availability of finance, new model launches and strengthening consumer demand. Passenger vehicle sales increased by 25% year-on-year to 1.27 million units, driven primarily by the strong momentum in the utility vehicle segment. Two-wheeler sales grew by 20.3%, supported by scooter demand, while commercial vehicle sales rose by 18.3% on the back of replacement demand and increasing infrastructure activity. Three-wheeler sales also remained strong, growing by 29.7%, led by a healthy demand across both passenger and goods carrier segments. In addition, vehicle exports also recorded their strongest ever first quarter, reflecting improved demand across several global markets and strengthening India's position as a competitive automotive manufacturing hub. Looking ahead, the industry outlook remains encouraging. The upcoming festival season, lower vehicle ownership costs following the new improved GST 2.0, easier financing conditions and overall a positive consumer sentiment are expected to support the continued demand momentum. At the same time, we remain watchful of the geopolitical developments, commodity price volatility and global supply chain dynamics, which could influence the operating environment over the course of this year. Coming to our business performance, the automotive part business continued to be the largest contributor to our revenues during the quarter. The segment benefited from higher customer production schedules, improved capacity utilization and the continued ramp-up of new vehicle program across all the key OEM platforms. During the quarter, we secured lifetime orders worth INR131 crores, representing a growth of 51.8% year-on-year. Importantly, the EV programs contributed nearly INR64 crores out of this Page 3 of 12 PPAP Automotive Limited August 10, 2026 INR131 crores, highlighting our increasing participation in the rapidly expanding electric mobility ecosystem and strengthening our long-term revenue visibility. A key strategic milestone during the quarter was our technology par [Showing first 8,000 characters — download PDF for full document]