Transcript of the earnings conference call for the quarter ended 30th June, 2026

19th August, 2026 The Manager The Manager Department of Corporate Services The National Stock Exchange of India Ltd. BSE Limited, Exchange Plaza, 5th Floor Phiroze Jeejeebhoy Towers Plot No-C/1, G Block, Dalal Street, Bandra Kurla Complex Mumbai- 400001 Mumbai - 400051 NSE Symbol: IFBIND | BSE Scrip Code: 505726 Sub: Transcript of the earnings conference call for the quarter ended 30th June, 2026 Dear Sir, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in furtherance to our letter dated 14th August, 2026 regarding the audio recording of the investor’s earnings call for the quarter ended 30th June, 2026, please find enclosed herewith the transcript of the said call. The said transcript is also available on the Company’s website i.e. https://www.ifbindustries.com/financial.php. This is for your information and record. Yours Faithfully, For IFB INDUSTRIES LIMITED Ritesh Agarwal Company Secretary “IFB Industries Limited Q1 FY27 Earnings Conference Call” August 14, 2026 MANAGEMENT: MR. SANDEEP JOSEPH ABRAHAM – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – HOME APPLIANCES DIVISION MR. C.S. GOVINDARAJ – EXECUTIVE DIRECTOR, MANUFACTURING – HOME APPLIANCES DIVISION MR. SOUMITRA GOSWAMI – CHIEF FINANCIAL OFFICER MR. ARUP DAS – EXECUTIVE DIRECTOR – ENGINEERING BUSINESS MR. AMAR SINGH NEGI – EXECUTIVE DIRECTOR – SERVICE BUSINESS (HAD) MR. JAYANTA CHANDA – CHIEF FINANCIAL OFFICER – ENGINEERING BUSINESS MR. RAJEEV MUNDHRA – HEAD, FINANCE AND ACCOUNTS – ENGINEERING, STEEL AND EAST REGION (HAD) MR. KARTIK MUCHANDI – HEAD, FINANCE AND ACCOUNTS – HOME APPLIANCES DIVISION MR. RANJAN MOHAN – NATIONAL SALES HEAD – HOME APPLIANCES DIVISION MODERATOR: MR. RABINDRA NATH NAYAK – NIRMAL BANG EQUITIES PRIVATE LIMITED Page 1 of 18 IFB Industries Limited August 14, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the IFB Industries Limited Q1 FY27 Earnings Call, hosted by Nirmal Bang Equities Private Limited. 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. I now hand the conference over to Mr. Rabindra Nath Nayak. Thank you, and over to you, sir. Rabindra Nath Nayak: Thank you, Saniya. On behalf of Nirmal Bang Equities, I would like to welcome everyone to the Q1 FY27 earnings call of IFB Industries Limited. We thank the management of IFB Industries for giving us the opportunity to host this call. From the management team, we have with us, Mr. Sandeep Joseph Abraham, Managing Director and CEO, Home Appliances Division; Mr. C.S. Govindaraj, Executive Director, Manufacturing, Home Appliances Division; Mr. Amar Singh Negi, Executive Director – Service Business, Home Appliances Division, Mr. Soumitra Goswami, Chief Financial Officer; Mr. Arup Das, Executive Director, Engineering Business; Mr. Jayanta Chanda, CFO, Engineering Business; Mr Rajeev Mundhra, Head- Finance and Accounts, Engineering and Steel, Mr. Kartik Muchandi, Head, Finance and Accounts, Home Appliances Division; and Mr. Ranjan Mohan, National Sales Head, Home Appliances Division. Please note that today's discussion may contain forward-looking statements based on current expectations, which involve risks and uncertainties that could cause actual results to differ materially. The management assumes no obligation to update these statements in light of new information or future developments. Without taking much of your time, I would now like to hand over the call to the management for their opening remarks. Following the management commentary, we will open the floor for the question-and-answer session. Over to you, sir. Thank you. Soumitra Goswami: I am Soumitra Goswami. I welcome you all for IFB Industries Limited investor call for first quarter FY27. Let me tell you about the quarter 1 results now. Revenue for the quarter was INR 1,529 crores against last year's INR 1,311 crores, which is a growth of 16.65%. PBDIT for the period was INR 88.46 crores, and its percentage to revenue is 5.79%, as compared to last year's INR 69.95 crores, which was 5.34% on revenue. There's an increase in PBDIT by INR 18.51 crores, which is a growth over last year by 26.46%. Fixed expenses for the quarter were well within budget. However, in case of some of the expenditure, expenses has increased over last year. PBT for the period was INR 51.54 crores, which is 3.3% on revenue, against last year's figure of INR 33.93 crores, which was 2.59% on revenue. Q1 PAT was INR38.06 crores, which is 2.5% on revenue, against last year's INR25.36 crores, which is 1.9% on revenue. With this, I would like to request to start the question-and-answer session. Page 2 of 18 IFB Industries Limited August 14, 2026 Moderator: Thank you very much. We will now begin the question-and-answer session. The first question is from the line of Lakshminarayanan from Tunga Investments. Lakshminarayanan: Two questions. If I look at the commodity increase in Q1 and Q4, which you had actually mentioned, it totals to almost INR90 crores, and the Forex also totals to around INR81 crores. So it's almost INR170 crores of impact on both the things, right? Now, while the cost savings, if I just total, it comes to maybe around INR110 crores or maybe INR120 crores. My question is that whether the commodity increase, is it behind us? And do you think this can -- either it is behind us or can we actually pass through the entire commodity increase so that the cost savings are actually permanent in the next few quarters? And how do you think about the Forex impact that you have got? And what has been the -- what is the prognosis for the year ahead? That is my first question. Second, I see that room air conditioners' growth has been close to 10%. What I gather is that the industry grew almost at 20% plus in the same period. Is it kind of a choice of not matching the growth -- I mean not matching the industry growth? Or there has been some kind of a disadvantage we had in terms of growth in the room air conditioners? So these are the 2 questions. Sandeep Joseph Abraham: So, as far as commodity is concerned, commodity and Forex -- I'm Sandeep here. Commodity and Forex continues to be an issue. So even when you look at Q1, we have an issue as far as commodity and Forex is concerned. And whether it is behind us, as of now, no. So we are still seeing commodity increases that are there, as well as Forex. There is not much of a change as far as Forex is concerned. So is it behind us? As of now, it doesn't look like it is behind us, and we continue to be under strain when it comes to both commodity and Forex. Lakshminarayanan: And how much of commodity you have passed on, sir? Because, for example, if you just take the last 2 quarters, it comes to almost INR90 crores of commodity increase. So has it been passed on? Or when do you think it can be passed on? Sandeep Joseph Abraham: We are trying to pass on whatever is possible, but we need to be competitively priced in the market. And therefore, have we been able to pass on commodity? No, we have not been able to pass on commodity and Forex to the market. We've been able to get some cost initiatives that are there, which is basically to improve efficiencies in our operation. So, that has helped us as far as our P&L is concerned. But no, we have not been able to pass on the commodity and Forex to the customer in the form of a price increase. Lakshminarayanan: Got it. And my second question is on the RAC. Sandeep Joseph Abraham: Yes. As far as AC is concerned, see, the quarter 1, when you look at it, every couple of years, 2 years or 3 years, the government changes its -- the ratings that are there. And we had taken a conscious call that we will not build up stock of the older-rating AC products. And therefore, our old-rated [Showing first 8,000 characters — download PDF for full document]