Transcript of the Audio Conference call for investors on 11th August 2026

17th August 2026 To, To, BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Dalal Street Exchange Plaza, Bandra Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 513519 Scrip Code: PITTIENG Dear Sir, Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Transcript of the Audio Conference call for investors on 11th August 2026 ****** With reference to our letter dated 29th July 2026, intimating about the conference call with investors to be held on 11th August 2026, please find attached transcript of the aforesaid conference call. The above information is also available on the website of the Company at www.pitti.in. This is for your information and record. Thanking you, Yours faithfully, For Pitti Engineering Limited Mary Monica Braganza Company Secretary & Chief Compliance Officer FCS 5532 “Pitti Engineering Q1 FY27 Earnings Conference Call” August 11, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on 11th August 2026 will prevail MANAGEMENT: MR. AKSHAY S PITTI – MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER, PITTI ENGINEERING LIMITED Page 1 of 15 Pitti Engineering Limited August 11, 2027 Moderator: Ladies and gentlemen, we welcome you all to the Q1 FY27 Earnings Conference Call of Pitti Engineering Limited. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions, and expectation of the company as on date of this call. These statements do not guarantee the future performance of the company, and it may involve risk 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 the operator by pressing “*” then “0” on your touch- tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Akshay S. Pitti – Managing Director and Chief Executive Officer. Thank you, and over to you, sir. Akshay S. Pitti: Thank you. Good afternoon, everyone, and thank you for joining the Q1 FY27 Earnings Call of Pitti Engineering Limited. Along with me are members of Senior Management Team and our Investor Relations Partners from SGA. Our Financial Results, Investor Presentation, and Related Disclosures are available on the Stock Exchanges as well as on the Company’s Website. I hope you have had an opportunity to go through the same. Let me begin with a brief overview of the broader operating environment and growth drivers: The first is localization in China Plus One opportunity: Historically, China has had the largest capacities across industrial areas such as electrical steel Laminations, Casting, and Machining. We are seeing customers increasingly look at India as an alternate manufacturing and sourcing base. This is particularly visible in Mining equipment, Data Center generators, as well as specialized industrial applications. Second important trend is a shift of manufacturing from Europe to India: The sharp increase in energy, labor, and material costs in Europe has impacted the competitiveness of European manufacturing. In motors and generators as well as Casting and Machining, customers are increasingly evaluating India for sourcing and manufacturing. Importantly, this opportunity is not limited to direct exports, as an increasing portion of what we supply to the Indian operations of our global customers are eventually getting exported, creating an indirect export opportunity for us as well. Page 2 of 15 Pitti Engineering Limited August 11, 2027 The third driver is electrification: Electrification is creating structural demand for electrical steel Laminations at both sides of the consumption spectrum. That is the energy generation as well as consumption. We believe this is a long-term trend that will support our growth of Lamination business in the future. Within this environment, we are particularly well-positioned because of the breadth of our capabilities. We have progressively expanded from Lamination into Casting, Machining, shaft manufacturing, and integrated assembly. What differentiates us is our ability to provide multiple components and processes under one roof. This becomes particularly valuable in complex applications such as railways, wind power, specialty motors, and off-highway equipment. The customers increasingly prefer integrated solutions rather than a smaller supply base. Importantly, our capacity expansion has historically been gradual and closely linked to customer demand. However, the level of demand and opportunities that we are seeing today require us to undertake larger capacity additions. We have recently commenced operations of the previously announced ₹ 150 crores Capex, which was announced last year, increasing our sheet metal capacity to 108,000 tons and augmenting our Casting and Machining capacity. We are now progressing with the ₹ 290 crores investment for our Greenfield Casting facility in Hyderabad. This facility will help consolidate our foundry operations and provide the infrastructure required for the next phase of growth. Our objective is to build capacity ahead of the demand curve. Speaking of sectoral demand and growth opportunity is broad-based. Our Data Centers have emerged as a strong near-term opportunity given the significant power requirements for both primary and backup power generation. We are seeing strong demand from customers such as Cummins, Marathon, Nidec, and are also developing opportunities with a couple of more marquee customers, at the same time, we remain mindful that the pace of AI Data Center investments may not be sustainable indefinitely. Therefore, we are confident about the underlying growth in regular Data Centers driven by cloud adoption and data localization. We remain measured in our approach to the overall Data Center opportunity. Beyond Data Centers, we are seeing strong visibility in railways, metros, Mining and off- highway equipment, and specialty end-use applications in industrial sector. Modernization of North American Railways and increasing Mining activity are all supporting demand for our products. Over the longer term, we are also seeing automotive and electric mobility as an important opportunity. While our presence in automotive is currently limited, we are actively looking to Page 3 of 15 Pitti Engineering Limited August 11, 2027 participate more meaningfully as India’s automotive manufacturing ecosystem expands and electrification creates new opportunities. Overall, we believe Pitti is at an important stage in its evolution. The combination of global supply chain realignment, India’s manufacturing competitiveness, electrification and expanding capacities and capabilities across Lamination, Casting, Machining, and integrated assemblies provide us with a strong platform for sustained growth. Coming to the operational and financial performance for the quarter: Our revenue mix of Traction Motor and Railway Components remained the largest contributors, accounting for 28% of revenue. This was followed by Power Generation at 15%, Industrial and Commercial Applications at 12%, Mining, Oil & Gas at 10%, Special Application Motors at 9%, and Data Centers at 5%, Renewable Energy at 3%, and Other Segments at 17%. This diversified revenue profile reflects the broad-based nature of our business and presence across several structural growth segments. Moving to volumes: Total Lamination and assembly volumes stood at approximately 19,200 tons, registering a healthy 19% year-on-year growth. Importantly, within Lamination, Higher Value-Added Assemblies, including Integrated Rotor Shaft and Stator Assemblies, grew faster than loose Lamination. This reflects a continued improvement in t [Showing first 8,000 characters — download PDF for full document]