Transcript of the Conference Call/ Meet to discuss the financial results of the Company for the quarter ended June 30, 2026

ISGEC I SGEC HEAVY ENGINEERING LTD. -------------------------------A--4-. S-e-ct-or--2-4. Noida -201 301 (U.P) India (GST No.: 09AAACT5540K2Z4) Tel. +91-120-4085000/01 /02 Fax: +91-120-2412250 E-mail.· corpcomm@isgec.com www.isgec.com Date: August 18, 2026 To, To, BSE Limited National Stock Exchange of India Limited P J Tower, Dalal Streets Exchange Plaza, C-1, Block G, Mumbai - 400 001, Sandra Kurla Complex, Sandra (E) Mumbai - 400 051 Company Scrip Code: 533033 Company Symbol: ISGEC Furnishlne of Information as per the Securities and Exchanee Board of India (1.istine Obligations and Disclosure Requirements) Regulations, 201s ("Listine Reiulations") Subject: Transcript of the Conference Call/Meet to discuss the financial results of the Company for the quarter ended tune 30, 2026 Dear Sir /Ma'am, 1. This is further to our letter dated August 12, 2026, whereby the Company had submitted the link to the audio recording of the Conference Call organised by the Company on Wednesday, August 12, 2026, at 04:00 p.m. (1ST) (i.e.16:00 hours) on the financial results of the Company for the quarter ended June 30, 2026. 2. Pursuant to the Regulation 30 read with Part A of Schedule III and any other applicable regulation(s) of the Listing Regulations, please find enclosed herewith the Transcript of said Conference Call/Meet. 3. The transcript of the conference call is also available on the website of the Company at ~ /www.isgec.comLpd f/ 1 nil i mationT nu 1scriptl nvestorM eet082026.pd f 4. This intimation is also being disclosed on the website of the Company at www.isgec.com. 5. The above is for your information and record, please. Thanking you, Yours truly, For Isgec Heavy Engineering Limited F~~ Engineering Limited Kalyan Ghosh ]anGi:., Compliance Officer Compliance Officer Membership No. A10790 Membership No. A10790 Address: A-4, Sector-24, Noida-201301, Address: A-4, Sector-24, No Uttar Pradesh Uttar Pradesh Encl.: As above Regd. Office: Radaur Road. Yamunanagar 135 001 (Haryana) India GIN: L23423HR1933PLC000097 ISGEC “Isgec Heavy Engineering Limited Q1 FY27 Earnings Conference Call” August 12, 2026 MANAGEMENT: MR. ADITYA PURI – MANAGING DIRECTOR MR. KISHORE CHATNANI – JOINT MANAGING DIRECTOR AND CHIEF FINANCIAL OFFICER ANALYST: MR. MAHESH PATIL – ICICI SECURITIES Page 1 of 16 ~ Isgec Heavy Engineering Limited ISGEC ~ August 12, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Isgec Heavy Engineering 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 this 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. Mahesh Patil from ICICI Securities. Thank you, and over to you, sir. Mahesh Patil: Thank you. Good afternoon to all. On behalf of ICICI Securities, I welcome you all to the Q1 FY27 Earnings Call of Isgec Heavy Engineering Limited. Today, we have with us from the management Mr. Aditya Puri, Managing Director; and Mr. Kishore Chatnani, Joint Managing Director and CFO. We will begin with the opening remarks from management, which will be followed by Q&A. Thank you, and over to you, sir. Aditya Puri: Thank you. Good afternoon, everyone, and thank you for joining us today. We appreciate your time, your continued interest in our company and the trust you place in us as we continue to build for the long term. We value these conversations because they allow us not only to discuss our performance, but also to explain how we are executing our strategy, responding to the market environment and positioning the business for sustainable growth. Standalone Financial Performance We delivered strong growth this quarter with the total income up 51% and PBT up 10% year- on-year. The total income for the quarter is INR 1,585 crores. Income in the Industrial Projects segment is higher due to improved order execution in line with project execution schedules. In the manufacturing segment, income is higher due to the dispatch of a large order from a U.S. customer, which the customer had put on hold for some time. Export revenue during the quarter is INR 385 crores, about 25% of the total revenue, up from 15% in Q1 FY26. We expect this increased level of exports to continue. The EBIT has also grown by 15% to INR 157 crores. The profit before tax of INR 123 crores is 10% higher than INR 112 crores for the quarter ended June 2025, which reflects higher operational profit. You may recall that Q1 FY 2026 included high other income due to Forex fluctuation. On the margin front, the manufacturing EBIT margins continued to be 12% and within the 12% to 13% range guided by us. And the EBIT margin for the projects business is 5.25%, better than it has been for the last few years. Total order booking for the first quarter is INR 2,323 crores and the total standalone orders in hand as on June 30, 2026, are very good at INR 7,727 crores. Order execution is proceeding smoothly in both manufacturing and the Industrial Projects business. The domestic market is strong across almost all our product lines, and we have a healthy level of export inquiries from customers across various industries. Our persistent efforts Page 2 of 16 ~ Isgec Heavy Engineering Limited ISGEC ~ August 12, 2026 and focus on increasing export business have shown good results. A number of export orders have been booked from customers recently in Africa and in Latin America. The export inquiry base is very healthy. The company's net fund position has improved by INR 140 crores during the quarter, and net borrowings are substantially down to INR 240 crores compared to INR 381 crores as on 31st March 2026 and INR 408 crores as on 30th June 2025. Impact of Geopolitical Tensions on our business Current geopolitical developments have not affected existing order bookings. Export and import logistics costs have increased, and transit times have also lengthened. The cost of some materials which have risen due to war are having a small adverse effect on profitability. Commodity prices, particularly steel, copper, aluminium and nickel have more or less stabilized, though they remain slightly above pre-war levels. Shipping and logistics for exports and imports are experiencing delays, reduced availability of ships and containers, sharply elevated freight rates and opportunistic pricing by shipping companies. There were no significant supply disruptions to the geopolitical situation during April to July 2026. Most of the increased costs are expected to be absorbed through normal contingency provisions. Consolidated Financial Highlights The consolidated orders in hand as on 30th June 2026 amounts to INR 8,958 crores. The total income for the quarter ended June 2026 is INR 1,993 crores, which is about 45% higher than the INR 1,374 crores for the quarter ended June 2025. Revenue has been higher during the quarter in Isgec standalone and Isgec Hitachi Zosen, but lower in Saraswati Sugar Mills. Isgec Hitachi Zosen is doing well with higher revenues and good orders in hand of INR 889 crores. Saraswati Sugar Mills had lower cane availability last year, resulting in lower production. We are working on various steps to improve cane availability next season. The consolidated EBITDA for the quarter is INR 137 crores, almost same as the quarter ended June 2025. The consolidated profit before tax of INR 53 crores is 18% higher than the INR 45 crores restated for the quarter ended June 2025. You would recall that in March 2026, we had shifted the accounting of the Philippines business to continuing operations from the earlier classification as held for sale and discontinued operations. This has also required us to restate the financial results for the quarter ended June 2025. Now let me briefly outline the key reason fo [Showing first 8,000 characters — download PDF for full document]