Analysts/Institutional Investor Meet/Con. Call Updates

Date: August 22, 2026 To, To, BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai- 400001 Bandra (E) Mumbai – 400 051 Scrip Code: 544258; Scrip Symbol: WCIL ISIN: INE0CJF01024 Dear Sir/Madam, Sub: Transcript of the earnings conference call held with Investors with reference to discussion on the Operational and Financial Performance of the Company for the quarter ended June 30, 2026. In furtherance to our earlier communication dated August 08, 2026 and pursuant to Regulation 30 read with the applicable provisions of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), please find enclosed herewith the transcript in respect to the Earnings Conference Call held on Monday, August 17, 2026 at 12:30 P.M. (IST), with regard to the discussion on the Operational and Financial Performance of the Company for the quarter ended June 30, 2026. The said transcript is also hosted on the Company's website at www.western-carriers.com We request you to kindly take the same on records. Thanking you, Yours faithfully, For Western Carriers (India) Limited Name: Sapna Kochar Company Secretary & Compliance Officer ICSI Mem. No.: A56298 Place: Kolkata, West Bengal Enclosed: As above “Western Carriers (India) Limited Q1 FY27 Earnings Conference Call” August 17, 2026 MANAGEMENT: MR. KANISHKA SETHIA – CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER AND WHOLE TIME DIRECTOR – WESTERN CARRIERS (INDIA) LIMITED MODERATOR: MR. PARTH AGARWAL – MUFG INTIME INDIA PRIVATE LIMITED Page 1 of 14 Western Carriers (India) Limited August 17, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Western Carriers (India) Limited Q1 FY27 Earnings Conference Call, hosted by MUFG Intime. 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. Parth Agarwal from MUFG Intime. Thank you, and over to you. Parth Agarwal: Thank you. Good afternoon, everyone. I welcome you all to the Q1 FY27 earnings conference call for Western Carriers (India) Limited. To discuss the business performance, we have from the management Mr. Kanishka Sethia, CEO, CFO and Whole-Time Director. Before we proceed with the call, I would like to mention that some of the statements made in today's call may be forward-looking in nature and may involve risk and assumptions. For more details, kindly refer to the investor presentation and other filings that can be found on the company's website and on the stock exchanges. Without further ado, I would like to hand over the call to the management for their opening remarks and then we can open the floor for Q&A. Thank you, and over to you, sir. Kanishka Sethia: Thank you. Thank you so much. Good afternoon, everyone, and welcome to the Q1 FY27 earnings call of Western Carriers (India) Limited. I hope I am completely audible. Moderator: Yes sir, you're audible. Kanishka Sethia: Thank you. I am joined today by my colleagues, Sapna, Surya, Jitendra, and Navin from the senior management team, and I would like to sincerely thank all of you for taking the time out to join us on this Monday morning right after the Independence Day weekend. We greatly value your continued interest, trust and engagement with the company. During the last quarter, your company has delivered very healthy growth despite operating environment shaped by geopolitical uncertainties being strong. Your company delivered a healthy 12% growth of revenue year-on-year from INR416 crores to INR465 crores and a healthy EBITDA of INR19 crores with INR9 crores PAT, a sequential growth of 13% quarter- on-quarter. But before delving into all of this, first let me begin by discussing slightly the broader macroeconomic and geopolitical environment before coming to our industry and then specifically back to our business performance and outlook in detail, followed by which we will have the Q&A session at the end as always. So, as you all know, logistics remains one of the most direct reflections of economic activity. When manufacturing expands, freight volumes increase, and when trade grows, supply chains become more active. Equally, whenever global disruptions occur, whether through conflict, Page 2 of 14 Western Carriers (India) Limited August 17, 2026 trade restrictions, commodity shocks or policy changes, the logistics sector usually experiences the impact almost immediately. Today the global economy continues to operate against a backdrop of heightened uncertainty. Over the last few years, businesses across the world and in India have had to navigate a series of disruptions, including first the Russia-Ukraine conflict, then the geopolitical tensions across various regions, supply chain bottlenecks, inflationary pressures, and changing trade patterns. More recently, continuing instability across parts of the Middle East has created additional concerns regarding energy markets, shipping routes, and supply chain resilience. While businesses and economies have become more adaptive than they were a few years ago, these geopolitical developments continue to influence freight movements, trade flows, transport costs, and ultimately business confidence across global markets. One of the biggest concerns arising from these developments has been the impact on global trade and energy markets. Any disruptions in critical trade corridors affects not only immediate regions but also transportation costs, vessel availability, transit schedules, and inventory planning across the world. For logistics providers, this creates an environment that requires continuous monitoring, operational flexibility, and close coordination with customers. : Against this backdrop, emerging markets and developing economies continue to remain the principal drivers of global growth. These economies are expected to grow approximately 3.9% to 4.2% in 2027, significantly outpacing advanced economies. Turning to India, I am pleased to note that the economic outlook still remains highly encouraging. India continues to be among the fastest-growing major economies globally and remains a one true bright spot in the global growth landscape. India's GDP for FY27 is expected and projected at approximately 6.6%, demonstrating the strength of the domestic economy even amidst an uncertain external environment. India's domestic demand indicators have also remained encouraging. The CPI inflation on an average quarterly is 3.93%, which remains within the broadly manageable levels. Similarly, the GST collections continue to reflect healthy economic activity. Now, looking at our sector, the long-term outlook for the Indian logistics sector, I feel remains extremely positive. India's freight and logistics market is expected to grow from approximately USD316 billion odd in 2026 and further reach approximately USD476 billion in the next 5 years. This represents a long-term compounded annual growth rate of a robust 8.6%. Looking at the domestic macro situation briefly, as it is important to understand the industry and the company performance now and going forward. Growth continues to be supported by strong domestic consumption, increasing private investments, improving manufacturing capabilities, government-led infrastructure spending, and a rapid expanding digital economy. Especially for our industry, the Indian government is investing very heavily in infra to strengthen the country's trade and logistics capabilities. From the commissioning of the Vizhinjam International Seaport, India's first deep water transshipment port, to the development of the high- Page 3 of 14 Western Carriers (India) [Showing first 8,000 characters — download PDF for full document]