Analysts/Institutional Investor Meet/Con. Call Updates

UFLEX/SEC/2026/ August 21, 2026 The National Stock Exchange of India Limited The BSE Limited Exchange Plaza, 5th Floor Corporate Relationships Department Plot No.C/l, G-Block 1st Floor, New Trading Ring, Bandra-Kurla Complex Rotunda Building, P J Towers, Bandra (E), Dalal Street, Fort, Mumbai – 400051 Mumbai – 400 001 Scrip Code : UFLEX Scrip Code : 500148 Subject : Transcript of the earnings conference call conducted on August 17, 2026 Dear Sir(s), Pursuant to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of the earnings conference call conducted on Monday, August 17, 2026, at 4:00 PM IST. Request you to take on record. Thanking you, Yours faithfully, For UFLEX LIMITED (Ritesh Chaudhry) Sr. Vice President - Secretarial & Company Secretary Encl: As above UFLEX LIMITED Q1 FY27 EARNINGS CONFERENCE CALL: AUGUST 17, 2026, 04:00 P.M. IST MANAGEMENT: MR. ARUN KUMAR SHARMA – PRESIDENT, FINANCE AND ACCOUNTS AND CHIEF FINANCIAL OFFICER, UFLEX LIMITED MR. SURAJIT PAL – VICE PRESIDENT, HEAD OF INVESTOR RELATIONS, UFLEX LIMITED HOST: MR. ASHVATH RAJAN – ARIHANT CAPITAL MARKETS LIMITED ACTIVE Q&A PARTICIPANTS: o Kashmira – SM Advisory o Randhir Kumar Singh – Randhir HUF o Saket Kapoor – Kapoor & Company o NV Alpha Asset – Rikesh Parikh o Chirag Singhal – First Water Fund o Tisha Shah – Equentis o Garvita Jain – Seven Islands o Kaushik Poddar – KB Capital Markets o Lakshmi Narayanan – Fleet Management Page 1 | 25 Q1 FY27 EARNINGS CONFERENCE CALL: AUGUST 17, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the UFlex Limited Q1 FY27 Results Conference Call, hosted by Arihant Capital Markets Limited. As a reminder, all participant lines will be in the listen-only mode. There will be an opportunity for you to ask questions after the presentation concludes. Should you need any assistance during this conference, please signal an operator by pressing star and then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Ashvath Rajan from Arihant Capital. Thank you, and over to you, sir. Ashvath Rajan: Thank you. Good evening, everyone. On behalf of Arihant Capital Markets, I would like to thank all of you for taking time and join us on UFlex Q1 FY27 Results Conference Call. From the company's leadership team, we have with us Mr. Arun Kumar Sharma, President, Finance and Accounts and CFO; and Mr. Surajit Pal, Vice President, Head of Investor Relations. We will open the call with opening remarks by the management, followed by a Q&A session. I would now like to hand over the call to Mr. Surajit Pal to make the opening remarks. Over to you, sir. Surajit Pal: Thanks, Ashvath. Good evening, everyone. Thank you for joining us today for the Q1 FY27 earnings conference call of UFlex Limited. Before we begin, I would like to briefly introduce Mr. Arun Kumar Sharma, our President, Finance and Accounts and Chief Financial Officer. We are pleased to have him with us and look forward to his perspectives on the company's financial performance and outlook. Let me draw your attention to the fact that on this call, our discussion will include certain forward-looking statements, which are predictions, projections and other estimates about future events. These estimates reflect management's current expectations about the future performance of the company. Please note that these estimates involve several risks and uncertainties that could cause our actual results to differ materially from what is expressed or implied. Thank you. Over to you, sir. Page 2 | 25 Q1 FY27 EARNINGS CONFERENCE CALL: AUGUST 17, 2026 Arun Kumar Sharma: Thank you, Surajit. A very good evening to everyone joining us today. On behalf of entire UFlex team, I extend a warm welcome to all our shareholders, analysts and other stakeholders on this call. I'm pleased to report that we have started fiscal 2027 on a strong note, delivering a clear acceleration in our overall growth trajectory. Building on the momentum established in Q4 FY26, this performance reflects the resilience of our integrated global business model and operational execution. Now we'll discuss UFlex's Q1 FY27 performance. Top line and earnings momentum. Consolidated revenue for Q1 FY27 grew 38% Y-o- Y to Rs. 53,972 million. EBITDA rose 92% Y-o-Y to Rs. 9,198 million with EBITDA margin expanding 480 basis points Y-o-Y to 17%, marking our highest EBITDA performance in the last 21 quarters. With 80% incremental revenue contributed by overseas operations and 20% by India, our incremental revenue was RS. 14,753 million in Q1. Packaging Films, including chips, contributed Rs. 12,093 million of the incremental revenue, while Rs. 1,988 million was contributed by the Packaging business. Normalized EBITDA post adjustment of Rs. 825 million on forex derivative transactions reached Rs. 8,373 million, which is 78% growth year-on-year, expanded to 15.5%. Our overseas operations contributed around 91% of the Rs. 4,410 million incremental EBITDA, reflecting a significant improvement in overseas profitability and driving the consolidated EBITDA growth. Consolidated net profit after tax and non- controlling interest PAT was Rs. 4,233 million with a net margin of 7.8% compared to Rs. 580 million and a net margin of 1.5% in Q1 FY26. Now we'll discuss the drivers of growth. Overseas operations drive Q1 FY27 growth and profitability. Margin expansion was driven by operational leverage, stronger realizations, pass-through of higher raw material costs, currency tailwinds and localized sourcing premiums. Overseas operations, particularly in Egypt, Mexico and Nigeria, alongside our India PET chips business served as a key growth driver of our profitability. Total sales volume for the quarter reached 173,471 metric tons, which is 1.7% year-on-year growth. Page 3 | 25 Q1 FY27 EARNINGS CONFERENCE CALL: AUGUST 17, 2026 The expansion of packaging films volume to 136,186 metric tons, which is 4.9% year- on-year growth, was supported by preference of sourcing by the converters from local regional producers of film across international markets. Overall Packaging volumes slipped 8.4% year-on-year to 37,285 metric tons, primarily due to strategic shift towards high-margin products in India in flexible Packaging business and softness in Aseptic Packaging due to duty-free import at aggressive prices in Indian market, while overseas volumes were impacted by larger pack sizes mix and some disruptions in consignment deliveries due to West Asia crisis. Next, I will provide some inputs on geography-wise volume split. In India, Packaging Films sales volume increased 9.1% quarter-on-quarter to 29,323 metric tons. On the domestic front, Packaging Films demand improved sequentially as converters and brand owners gradually resumed purchases since price normalization in May and June. Our demand softened year-on-year as Q1 FY26 at a higher base due to temporary supply shortage in the industry. Americas sales volume increased 18% Y-o-Y to 31,724 metric tons. This was supported by the U.S. government push for domestic production and onshoring amid evolving trade policies. Constrained imports from West Asia and India are expected to sustain the positive volume growth outlook ahead. In Europe, sales volume was flat Y-o-Y and stood at 35,653 metric tons amid continued pressure from low-priced imports with demand expected to moderate next quarter due to seasonal holidays. CIS BOPET Film sales benefited from steady demand, while CPP volumes were impacted by increased low-priced imports. Middle East and Africa region volumes increased 16.5% sequentially and 14.9% year- on-year to 39,486 metric tons, primarily driven by strong local and regional sourcing as customers derisk their supply chains amid the West Asia crisis. Egypt led the growth, while Nigeria benefited from robust export opportunities and improving domestic demand. On our s [Showing first 8,000 characters — download PDF for full document]