Transcript of Analysts call held on 14th August 2026

Date: 18th August, 2026 Ref.: PIL/ANB/L-045/2026-27 Company Code: PRAJIND Security Code No.: 522205 National Stock Exchange of India Ltd. BSE Ltd. Exchange Plaza, 5th Floor, Plot No. C/1, G Phiroze Jeejeebhoy Towers, 25th Floor, Block, Bandra-Kurla Complex, Dalal Street, Mumbai - 400 001 Bandra (East), Mumbai - 400 051 Sub.: Transcript of Analysts’ Call held on 14th August, 2026. Dear Sir / Madam, Please find enclosed Transcript of Analysts’ Call of Praj Industries Ltd. held on 14th August, 2026 regarding Un-audited Financial Results (Standalone and Consolidated) for the first quarter ended 30th June, 2026. This information is given pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time. Thanking you, Yours faithfully, FOR PRAJ INDUSTRIES LIMITED ANANT BAVARE COMPANY SECRETARY & COMPLIANCE OFFICER (M. No. 21405) Encl.: as above Praj Industries Limited Regd. Office: ‘Praj Tower’, 274 & 275/2, Bhumkar Chowk, Hinjewadi Road, Hinjewadi, Pune 411057. Ph.: +91-20-71802000 / 22941000 f: +91-20-22941299 e: info@praj.net w: www.praj.net CIN: L27101PN1985PLC038031 Praj Industries Limited Q1 FY'27 Earnings Conference Call August 14, 2026 Moderator: Ladies and gentlemen, good day and welcome to Praj Industries Limited Q1 FY 2027 Earnings Conference Call. 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 “*” then “0” on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you, and over to you, ma'am. Purvangi Jain: Thank you. Good afternoon, everyone, and a very warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the investor relations of Praj Industries Limited. On behalf of the company, I would like to thank you all for participating in the company's earnings conference call for the first quarter of the financial year 2026-2027. Before we begin, I would like to mention a short cautionary statement. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from those anticipated. Such statements are based on management's belief as well as assumptions made by, and information currently available to the management. Audiences are cautioned not to place any undue reliance on these forward-looking statements in making any investment decision. The purpose of today's Earnings Conference Call is purely to educate and bring awareness about the company's fundamental business and financial quarter under review. Now, let me introduce you to the Management participating with us in today's Earnings Call and hand it over to them for their opening remarks: We have with us Mr. Ashish Gaikwad – Managing Director, and Mr. Sachin Raole – Joint Managing Director and Chief Financial Officer. Without any further delay, I request Mr. Ashish Gaikwad to begin his opening remarks. Thank you, and over to you, sir. Page 1 of 17 Ashish Gaikwad: Good day, everyone. Welcome to Praj Industries Earnings Call for Q1 FY 2027. Trust all of you had the opportunity to go through our Results for the quarter ended 30th June 2026. I would like to start with my remarks on an exciting development: Earlier this week, on the occasion of World Biofuel Day on August 10th, Dr. Pramod Chaudhari Centre of Excellence for Advanced Bioeconomy was inaugurated at Savitribai Phule Pune University, or SPPU. This CoE is a pioneering initiative that will serve as a hub for interdisciplinary research, innovation, education, and industry collaboration. The CoE will create solutions for tomorrow's challenges while nurturing the talent needed to drive the bioeconomy. Now, coming to the business performance. While the external business environment remained uncertain, we have made definitive progress on a few long-term growth vectors. Our first-generation ethanol domestic business continued to experience a slowdown in greenfield projects. Currently, inquiries for greenfield projects are only from customers in ethanol deficit areas of states like Tamil Nadu and Assam. We believe that this situation will continue till the time we see policies around higher blending mandates. While greenfield projects are moving slowly, we see increasing demand for our Brownfield solutions, where customers are prioritizing operational efficiency improvements and value-added co-products, such as the Distillers corn oil or DCO. There is a strong demand for greenfield ENA plants, where Praj has a clear technology edge. On the project backlog execution front, Funding-related issues persist, and they are resulting in extended project execution cycles. The supply-demand imbalance has also impacted the project's backlog conversions to revenues. I am pleased to share that we have received the order to set up our country's first commercial-scale demo plant for Bio-IBA or Bio-Isobutanol alcohol. Bio-IBA blending in diesel is anticipated to be a significant step in the nation's biofuels journey. Just a 2% blending mandate for Bio-IBA in diesel has a potential to create over INR 3,000 crore project opportunity. In the international market, we have received an order for setting up a greenfield grain-to- ethanol plant in Brazil. This is a corn-to-ethanol plant. This project will be a marquee reference for Praj in the region. We are closely following the developments in the U.S.A. market also. U.S.A. has announced usage of E15, that is 15% blending in gasoline or petrol. We are also engaging with potential customers in Indonesia, Vietnam, Kenya, Panama, Argentina, Guatemala, Costa Rica, and Bolivia, where the governments are increasing the share of biofuels in their energy mix. This is driven by the need for energy security as well as energy costs. On the CBG front: To establish Compressed Bio-Gas or CBG as a major pillar of India's future energy mix, the union cabinet has approved GOBARdhan, the National Circular Bioenergy Scheme, with a total outlay of over INR 23,000 crores. Set for implementation between FY 2026- 2027 to FY 2035-2036. This transformative scheme aims to scale domestic CBG production nearly tenfold, mobilize large-scale private investments, and build a vibrant circular bioeconomy Page 2 of 17 nationwide for energy security and affordability. GOBARdhan addresses key execution challenges by establishing the strong, predictable foundation needed to bring India's CBG sector to national scale. Through assured demand, remunerative and stable pricing, capital assistance, pipeline infrastructure, credit support, and continuous technology development, the scheme transforms CBG into a bankable infrastructure asset. Ultimately, this comprehensive policy framework is expected to serve as an inflection point that will expedite investments. State governments such as Maharashtra, Odisha, Chhattisgarh, Assam, have also announced policies to support the capacity creation for CBG projects. With Praj's proven technology performance on multiple feedstocks, we are ready to leverage this opportunity. Our lifecycle services business is growing steadily quarter-over-quarter. Via our lifecycle services business, we continue to serve our large customer installed base. We provide physical and digital services that ensure optimal plant performance and efficiency. We also offer performance enhancer solutions as well as the biogenic CO2 capture solutions. During the quarter, we conducted several trials for performance enhancers in Latin American region, which will help us expand our offerings in the region. On the SAF front, we have received an order to deliver detailed engineering for ethanol-to-SAF plant from an i [Showing first 8,000 characters — download PDF for full document]