Analysts/Institutional Investor Meet/Con. Call Updates

qJ.1q~=tl€ ~TI ~Me.'5 e-assuring (~ mcJi"R qij ~) -NOIA MSTC LIMITED (A Govt of India Enterprise) CIN : L27320WB1964GOI026211 MSTC/CS/SE/760 20th August, 2026 1. The Dy. Manager (Listing) 2. The Manager, Listing Department BSE Limited National Stock Exchange of India Limited PhirozeJeejeebhoy Towers, Exchange Plaza, BandraKurla Complex Dalal Street, Mumbai 400 001. Bandra (E), Mumbai 400 051 (Scrip Code: 542597) (Scrip Code: MSTCL TD) Dear Sir/Madam, Sub: Transcript of Conference Call with the Investors/Analyst The Company had organized a conference call with the Investors/ Analyst on Friday, 14 August, 2026 at 11: 30 AM. A copy of transcript of conference call held with the Investors/ Analysts is enclosed herewith for your information and records. Copy of aforesaid transcript is also hosted on company's website www.mstcindia.co. in. Thanking you, Yours faithfully, For MSTC Limited (Ajay Kumar Rai) Company Secretary & Compliance Officer Encl: as above www.mstcindia.co.in I www.mstcecommerce.com ~ <1;i<1ic:1<1 : ~ ~. ~ 18/2 lWi ~. 175 ~ ~ 1 ~ ~el\1i.:t cf>lc:1cf>kll 700156 -q .fl. Regd. Office: Plot No. CF18/2, Street No. 175, Action Area lC,New Town, Kolkata-700156 W.B. “MSTC Limited Q1 FY’27 Earnings Conference Call” August 14, 2026 MANAGEMENT: MR. MANOBENDRA GHOSHAL – CHAIRMAN AND MANAGING DIRECTOR, MSTC LIMITED MS. BHANU KUMAR – DIRECTOR (COMMERCIAL), MSTC LIMITED MR. SUBRATA SARKAR – DIRECTOR (FINANCE), MSTC LIMITED MR. AJAY KUMAR RAI – COMPANY SECRETARY, MSTC LIMITED MODERATOR: MR. DEEP MODI – EQUIRUS SECURITIES Page 1 of 19 MSTC Limited August 14, 2026 Moderator: Ladies and gentlemen, good day and welcome to MSTC Limited Q1 FY27 Earnings 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 “*” then “0” on your touchtone phone. Please note that this conference has been recorded. I now hand the conference over to Mr. Deep Modi from Equirus Securities Pvt. Ltd. Thank you and over to you, sir. Deep Modi: Good morning, everyone. On behalf of Equirus Securities, I welcome you all to Q1 FY27 earnings conference call of MSTC Limited. From the Management, we have with us today, Mr. Manobendra Ghoshal - Chairman and Managing Director; Ms. Bhanu Kumar - Director (Commercial); Mr. Subrata Sarkar - Director (Finance), and Mr. Ajay Kumar Rai - Company Secretary. We will begin the call with the opening remarks from the Management and then we will open the line for Q&A. I now hand over to Mr. Manobendra Ghoshal. Over to you, sir. Thank you. Manobendra Ghoshal: Thank you. Good morning, Deep and all our esteemed stakeholders. A very warm welcome to all of you to MSTC’s Q1 FY27 investor call. I take great pleasure in being able to report to you that your company has been able to maintain the momentum gained in FY26 and has returned a sterling Q1 performance on multiple metrics. Revenue from operations has been Rs. 94.25 crores, which is a nearly 22% year-on-year increase over the corresponding period last year. Riding on the highest ever Q1 e-commerce revenue of Rs. 89.49 crores, this is the highest in the Q1 since your company was listed in 2019 March. EBITDA percentage of total income was 69.05%, also nearly 3% higher than the corresponding period of FY26. This drove the highest ever Q1 PBT and PAT since listing. So, all that is something to look forward to and over all this time, we have been systematically also identifying our strengths, the areas we should expand in, the new possibilities to follow and explore aggressively and what to exit from. We had taken a decision in FY26 to completely exit from the trading and marketing segment and have seamlessly recovered our dues on the 110% BG model, closing the chapter on this legacy segment in this quarter. With this, we have moved forward from being a canalizing agency trading house that MSTC primarily started out as, to being a digital solutions provider. We have simultaneously looked to Page 2 of 19 MSTC Limited August 14, 2026 identify suitable opportunities which can be capitalized on by leveraging MSTC’s domain expertise developed over the last 23 plus years through e-commerce application development. So, as a part of that development of the electronic trading platform for EPR certificates is now complete along with all the integrations necessary for immediate operationalization. We are now awaiting the go ahead for being able to start operating this portal for trading and settlement of EPR certificates from all notified sectors by the stakeholders. Similarly, our team has been working towards developing MSTC’s travel portal at mstcsmarttravel.in. This is under operationalization for the B2B segment with B2C rollout planned shortly. Our DC will fill us in more about this during her brief. Developing a trade receivables discounting system, a treads platform has also been taken up as one of the areas showing commercial viability. We have been steadily working towards putting in place a robust application, requisite financial services integration and necessary security protocols while also approaching the Reserve Bank of India for necessary approvals. This project is also at an advanced stage and subject to regulatory approvals being obtained, we should be able to operationalize this sometime during this FY27. Apart from strengthening your company’s credentials in the digitalization space, this particular initiative will also help in furthering the push being given by the government for enabling the MSME sector to flourish. So, as a corporate entity over the last two financial years, we have tried to identify our strengths, the areas where we found that business models were no longer in sync with our expertise and those new possibilities where our presence and know-how available within the organization could be best deployed for developing opportunities showing good commercial outlook. We also took a decision to remain an asset-light company. So, apart from scaling up existing e- commerce business by aggressively expanding our client footprint, we decided to venture into a limited number of new verticals, stabilize those, scale them up and before thinking of expanding further. That is the model that we have been following. I am also very glad to report that operations of our joint venture with M/S Mahindra, MMRPL has picked up significant momentum over the last three to four quarters. For the first time in quite a few number of sequential reporting periods, the venture has shown a positive PAT. This has largely been driven by significantly higher feedstock inflows which in turn are predicated upon the government’s push towards extended producer responsibility norms cutting in for automobile manufacturers. Page 3 of 19 MSTC Limited August 14, 2026 This caused a number of the end of life vehicles which were up till now going to the grey market and therefore, resulting in uncontrolled and unethical scrapping to be diverted to RVSFs. Higher incentives provided for new car buyers who trade in their old vehicles through discounts and rebates by the OEMs and the government have helped this flow positively. And we expect this trend to strengthen and continue, driving towards a healthy financial outlook for this company. I will now request my Director Commercial to give us a brief overview of business highlights for this Q1 followed by Director Finance to give us a drill down on the financials. Over to you ma’am. Bhanu Kumar: Thank you. Good morning, everybody. The highlights of the business for the 1st Quarter of this financial year has been that we have continued our services for the sale of minor and major mineral blocks all across the country and being the thrust being given for the critical minerals we have had significant number of events for allocation of critical mineral blocks also. Then the explorat [Showing first 8,000 characters — download PDF for full document]