Transcript of the Earning Call held on August 12, 2026

Ref- FWIL/SEC/2026-27/37 Date: August 18, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Dalal Street C/1, G Block, Bandra - Kurla Complex Mumbai - 400 001. Bandra (East), Mumbai - 400 051. Scrip Code : 544030 Symbol : FLAIR Sub: Transcript of Investor Call held on August 12, 2026 Dear Sir(s)/ Madam(s), Pursuant to Regulation 30 of the Listing Regulations, copy of transcript of the Investor call held on Wednesday, August 12, 2026 at 12.00 noon (Indian Standard Time) to discuss Company’s performance for the quarter ended June 30, 2026 is enclosed. You are requested to take the same on record. Thanking you, Yours faithfully, For Flair Writing Industries Limited Vishal Kishor Chanda Company Secretary and Compliance Officer Encl: As above “Flair Writing Industries Limited Q1 FY27 Earnings Conference Call” August 12, 2026 MANAGEMENT: MR. VIMALCHAND RATHOD – MANAGING DIRECTOR – FLAIR WRITING INDUSTRIES LIMITED MR. MOHIT RATHOD - WHOLE TIME DIRECTOR – FLAIR WRITING INDUSTRIES LIMITED MR. SUMIT RATHOD – WHOLE TIME DIRECTOR – FLAIR WRITING INDUSTRIES LIMITED MR. ALPESH PORWAL – CHIEF FINANCIAL OFFICER – FLAIR WRITING INDUSTRIES LIMITED MODERATOR: MS. MAMTA NEHRA – MUFG INTIME Page 1 of 15 Flair Writing Industries Limited August 12, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Flair Writing Industries Limited Q1 FY27 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 star then zero on your touchtone phone. Please note that this call is being recorded. I now hand the conference over to Ms. Mamta Nehra from MUFG Intime. Thank you, and over to you, ma'am. Mamta Nehra: Thank you. Good afternoon, everyone. Welcome to the Flair Writing Industries Limited Q1 FY27 Earnings Conference Call. Today on the call, we have Mr. Vimalchand Rathod, the Managing Director; Mr. Mohit Rathod, the Whole-Time Director; Mr. Sumit Rathod, Whole- Time Director; and Mr. Alpesh Porwal, the Chief Financial Officer. A short disclaimer before we start this call. This call will contain some forward-looking statements, which may be based upon our beliefs, opinions and expectation of the company. As of today, these statements are not a guarantee of future performance and will involve unforeseen risks and uncertainties. With that, I would now like to hand over the conference call to Mr. Vimalchand Rathod, the Managing Director, for his opening remarks. Thank you, and over to you, sir. Vimalchand Rathod: Good afternoon, and welcome to everyone. Thank you for joining Q1 FY27 earnings call. I hope everyone had the opportunity to go through our investor presentation and press release that has been uploaded on the exchange. We are pleased to present our Q1 FY27 performance with 11% year-on-year revenue growth and a 23%* year-on-year increase in EBITDA. We are seeing increase in demand of our products in the domestic market with growth across key categories despite challenging arising from the prevailing geopolitical situation, which impacted our Q-on-Q gross profit margin and affected our certain market and supply chains. Our overall business remains in resilience and continue to deliver growth. Coming to our segment performance, our core Pen segment delivered 9% year-on-year growth with demand remaining positive during the back-to-school season. Our Creative Products and Steel Bottles and Houseware business also recorded double-digit growth. Together, those categories now contributes approximately 31% of our overall revenue, reflecting the growth -- the progress we are making towards diversifying our product portfolio. Flair Cyrosil Industries Private Limited subsidiary of Flair. Currently operates three stainless steel bottle manufacturing lines. The order for the fourth next-generation manufacturing line has recently been placed and its commissioning is expected by Q4 '27. The new line is expected to increase our manufacturing capacity by approximately 35%, enabling us to cater the growing demand of domestic and international demand. *Errata: Please note that EBITDA year-over-year growth is 7.7% instead of 23%. Page 2 of 15 Flair Writing Industries Limited August 12, 2026 Looking ahead, our focus remains on maintaining our leadership in writing instruments whilst increasing our market share in our Creative Products and Steel Bottles and Houseware business. At the same time, we are continuing to improve capacity utilization, better throughput in our distribution network and drive product capacity utilization, better throughput, innovative and strength of our presence in our own brands and international markets. I now hand over the call to Mr. Alpesh Porwal, our CFO, to discuss in detail about our Q1 FY27 financial performance. Alpesh Porwal: Thank you, MD sir. A warm welcome to everyone. Let me take you through our financial performance for Q1 FY27. Revenue from operations stood at INR319.2 crores, registering a 10.6% year-on-year growth. Gross profit stood at INR158.6 crores, up 10% year-on-year, with gross margin at 50%, broadly in line with historical levels with a modest 31 basis point year-on- year decline, which is driven by geopolitical uncertainties and an elevated cost environment across the industry. We have also taken proactive measures to protect margins, including rationalizing schemes and discounts and implementing selective price increases across all our three segments of businesses: Writing Instrument, Creatives, and Steel Bottle and Houseware business. EBITDA stood at INR53.3 crores, growing 7.7% year-on-year, while EBITDA margin stood at 16.7%, a 46 bps decline year-on-year. The moderation in margins reflects elevated and volatile raw material costs driven by geopolitical uncertainties. As capacity utilization improves and newer businesses gain scale, the company expects operating leverage benefits to support margin expansion and remains confident of progressively moving towards its EBITDA margin target of 17.5% to 18%. PAT stood at INR29.1 crores, increasing 0.5% year-on-year with PAT margin at 9.1%. The relatively slower PAT growth was primarily due to lower other income and increased raw material costs during the quarter. Despite the prevailing geopolitical uncertainty and the challenges arising from West Asia situation, we remain confident in the underlying demand environment and reiterate our FY27 revenue growth guidance of 15%. The above comparison is on Y-o-Y basis. And if you see Q-on-Q performance, the revenue shows a decline of 1.1% with gross profit margin declining by 151 bps and EBITDA declined by 116 bps and PAT margin declining by 220 bps. All these were primarily due to geopolitical situation in West Asia with sharp increase in raw material prices. We took prudent steps to mitigate and minimize impact through targeted price increases across key Steel Bottle and Houseware categories, rationalized trade schemes and discounts and intensified its focus on premiumization and product mix enhancement. Coming to our segment performance. Our core Pen business grew 9% year-on-year, reaching INR220 crores compared to INR202 crores in the previous year. The segment continues to be a consistent growth driver, supported by healthy demand in the domestic market and ongoing product innovation. Importantly, growth during the quarter was largely volume driven. We Page 3 of 15 Flair Writing Industries Limited August 12, 2026 launched 18 new pens across different price segments, further expanding our product offering and catering to a wider range of consumer needs. The Creative segment witnessed a growth of 23% Y-o-Y to INR80 crores as compared to INR65 crores in Q1 FY26. However, growth could have been higher, but the impact of sharp increases in raw material costs amid geopoliti [Showing first 8,000 characters — download PDF for full document]