Analysts/Institutional Investor Meet/Con. Call Updates

August 17, 2026 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor Dalal Street, Mumbai – 400001 Plot No. C/1, “G” Block BSE Symbol: INDOFARM Bandra-Kurla Complex BSE Scrip Code: 544328 Bandra (E), Mumbai – 400 051 NSE Symbol: INDOFARM Dear Sir/Madam, Subject: Transcript of the Investor/Analyst Earnings Call held on Wednesday, 12th August 2026. This is in continuation to our letter dated 12th August 2026, wherein we had informed regarding the audio link of the earnings call with analysts/investors for the quarter ended 30th June, 2026. In this regard, please find enclosed herewith the transcript of the said call. The transcript is also available on the Company’s website i.e. https://www.indofarm.in/corporate-governance/ . This is for your information and records. Thanking you, Yours faithfully, For Indo Farm Equipment Limited Navpreet Kaur Company Secretary & Compliance Officer M. No. 8353 Encl: As Above 12th August 2026 | 4:00 PM Indo Farm Equipment Limited Q1 FY27 Earnings Conference Call 12th August 2026 | 4:00 PM Management Representatives • Mr. Ranbir Singh Khadwalia – Chairman and Managing Director • Mr. Anshul Khadwalia – Whole-Time Director • Mr. Shubham Khadwalia – Executive Vice President, International Business • Mr. Varun Sharma – Chief Financial Officer • Mr. S. M. Singla – Finance Head • Ms. Navpreet Kaur – Company Secretary and Compliance Officer Opening Remarks Moderator (Finportal): Good afternoon, everyone, and welcome to the Q1 FY27 earnings call of Indo Farm Equipment Limited. We sincerely thank you for joining us today. During today's call, the management will discuss the company's operational and financial performance for the first quarter of FY27, followed by an update on key business developments, strategic priorities and the outlook ahead. This will be followed by an interactive Q&A session. Before we begin, I would like to remind everyone that certain statements made during this call may be forward- looking in nature. These statements are based on management's current expectations and assumptions, and are subject to various risks and uncertainties. Actual results may differ materially from those expressed or implied. Participants are advised not to place undue reliance on these forward-looking statements. Please also note that this conference call is being recorded for compliance purposes. Representing Indo Farm today, we have with us • Mr. Ranbir Singh Khadwalia - Chairman and Managing Director; • Mr. Anshul Khadwalia - Whole-Time Director; • Mr. Shubham Khadwalia – Executive Vice President, International Business • Mr. Varun Sharma - Chief Financial Officer • Mr. S. M. Singla - Finance Head; • Ms. Navpreet Kaur - Company Secretary and Compliance Officer I now invite the management team to deliver their opening remarks. The presentation has been shared with the exchanges. Following their address, we will open the floor for the Q&A session. Thank you and over to you. Mr. Ranbir Singh Khadwalia: Good evening and welcome, everyone, to this earnings conference call to discuss the results for Q1 FY27. Along with me, we have our Whole-Time Director, Mr. Anshul Khadwalia; Mr. Shubham Khadwalia, Executive Vice President; Mr. Varun Sharma, Chief Financial Officer; Mr. S. M. Singla, Finance Head; and Ms. Navpreet Kaur, Company Secretary and Compliance Officer. The company's financial results for the quarter ended June 2026 have been circulated and uploaded on the stock exchanges and the company website. I will summarize the key highlights of the financial performance for the quarter ended June 2026 on a standalone basis. Quarterly performance (Q1 FY27): • Revenue from operations: ₹104.93 crore v/s ₹91.26 crore - YoY growth of 14.98%. • EBITDA: ₹13.09 crore v/s ₹11.81 crore - YoY growth of 10.84%. • Tractor segment revenue: ₹52.08 crore v/s ₹38.21 crore - YoY growth of 36.29%. • Crane segment revenue: ₹52.86 crore v/s ₹53.05 crore - almost flat on a YoY basis. Mr. Ranbir Singh Khadwalia: Growth outlook: Page 1 of 8 12th August 2026 | 4:00 PM • The company maintains the guidance given earlier and expects to achieve overall revenue growth of around 20–25% for financial year 2026–27. • Tractor revenue is expected to grow around 25–30%. • Crane revenue is expected to grow around 15–20% from the existing plant. • EBITDA margin is expected in the range of 12.5% to 13% on a standalone basis. Mr. Ranbir Singh Khadwalia: Dealer network: • The total dealer network as at the quarter ended June 2026 stands at around 250-plus dealers. • This comprises around 225 dealers in the tractor division and around 25 dealers in the crane division. Mr. Ranbir Singh Khadwalia: New project at the Bhud site: • The civil and construction work of the main shed, including the pre-engineered building, structures and related infrastructure at the Bhud site, is in full swing. • Orders for the major machinery have been placed and almost all the machines are ready. • Commercial production is expected to start within this financial year itself, and we are expecting that it can begin by the end of November. Mr. Ranbir Singh Khadwalia: On the tower crane: • We have already acquired the technology, as explained in the last call and have now successfully developed and tested our first tower crane prototype. • It has cleared a comprehensive evaluation across structural integrity, operational efficiency, reliability and safety, meeting the highest industry benchmarks. • With testing now complete, we are fully geared for commercial production in the current financial year. Thank you very much. We can now take the specific questions from the investors. Question & Answer Session Moderator (Finportal): Thank you, sir, for the opening remarks. We will now open the floor for the Q&A session. Participants who wish to ask a question are requested to use the raise hand feature. We will take the first question from Mr. Rahul Gupta. Rahul Gupta: Sir, in Q4 the crane profitability was impacted by higher steel costs and the transition to the new emission norms that you mentioned. Has this cost increase now been fully passed on to the customer, or should we expect the margin to normalize from Q2? Mr. Ranbir Singh Khadwalia: I think from Q2 it will be maintained, because demand in Q2 is looking promising, it is better. It has taken almost three quarters to stabilize things, because the change was big, from Trem III to Trem V emission norms. From this quarter onwards, because demand has increased, I think everything can be passed on to the customers. Rahul Gupta: Okay. Sir, my second question is: as you mentioned in the last call, tower crane deliveries would start from Q2 FY27 and you already had a small, single-digit order book. How is the order pipeline now? You have said commercial production will start in November, so on what basis was the Q2 FY27 timeline given in the last call? Mr. Ranbir Singh Khadwalia: Because the machine is already tested and we have started manufacturing the fabricated components in-house. Some components we are getting from outside, the way other companies also import them from other countries. Once those components are received, I think we will finish the first lot of 10 machines. We expect to complete these 10 machines within this quarter, subject to receipt of the few components we are expecting from outside. Rahul Gupta: Okay. So, sir, when will you receive the machinery? Mr. Ranbir Singh Khadwalia: Almost all the machines are ready. Once the flooring work is completed, we expect to start receiving the machinery in the month of October. I think the machines will start coming in October and we will be able to install them in October. Rahul Gupta: And can you give the guidance for Q2 FY27 and for the whole year? Page 2 of 8 12th August 2026 | 4:00 PM Mr. Ranbir Singh Khadwalia: The guidance is from the existing plant only. We are expecting overall growth of 20–25%, tractors and cranes put toge [Showing first 8,000 characters — download PDF for full document]