Analysts/Institutional Investor Meet/Con. Call Updates

August 25, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Exchange Plaza, C-1, Block - G, Street, Bandra Kurla Complex, Mumbai - 400 001 Bandra (East), Mumbai - 400 051 Scrip Code: 543212 Symbol: BOROLTD Dear Sirs, Sub: Transcript of Earnings Call Please find attached the transcript of the Earnings Conference Call held on Wednesday, August 19, 2026. The aforesaid transcript is also available on the Company's website at www.borosil.com. You are requested to take the same on record. Thanking you. Yours faithfully, For Borosil Limited Pradeep Joshi Company Secretary & Compliance Officer Encl.: as above “Borosil Limited Q1 FY27 Earnings Conference Call” August 19, 2026 MANAGEMENT: MR. ANAND SULTANIA – CHIEF FINANCIAL OFFICER – BOROSIL LIMITED MR. RITURAJ SHARMA – CHIEF EXECUTIVE OFFICER – BOROSIL LIMITED MR. DHAVAL PATEL – HEAD, INVESTOR RELATIONS – BOROSIL LIMITED MODERATOR: MR. MANAN GOYAL – ICICI SECURITIES LIMITED Page 1 of 17 Borosil Limited August 19, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Q1 FY27 Earnings Conference Call of Borosil 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 touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Manan Goyal from ICICI Securities. Thank you, and over to you, sir. Manan Goyal: Thank you. On behalf of ICICI Securities, we welcome you all to Q1 FY27 Results Conference Call of Borosil Limited. Today, we have with us senior management represented by Mr. Rituraj Sharma, CEO; Mr. Anand Sultania, CFO; and Mr. Dhaval Patel, Head of Investor Relations. Now I hand over the call to the management for their initial comments on the quarterly performance. Then we will open the floor for Q&A session. Thank you, and over to you, sir. Rituraj Sharma: Thank you, Manan, and ICICI Securities for arranging this call. Good afternoon to everyone of you. The Borosil team is delighted to be communicating with you once again. I'm pleased to inform you that Borosil Limited Board has approved the financial results for Q1 FY27 during our Board meeting on 14th August 2026. We have submitted our results and an updated presentation to the stock exchanges, and they are available on the company's website for review. Some quick updates. We are pleased to inform you that the company through its wholly owned subsidiary, Stylenest India Limited, has successfully commissioned setting up of BIS-compliant manufacturing unit with 2 double-wall lines of vacuum insulated stainless steel flasks, bottles and containers in the state of Rajasthan. The commercial production from 2 double-wall lines commenced on 30th June 2026, and the production from third double-wall line is expected to commence during Q2 FY27. With the introduction of new Green Energy Open Access Regulations 2025, we are pleased to inform you that the company has successfully commissioned its third captive solar plant in Bikaner during Q1 FY27 with a capacity of 20-megawatt peak integrated with battery energy storage system. This is the company's first project with battery storage and the first installation under the Green Energy Open Access Regulations 2025. As a result, solar power now meets about 61% of our overall energy requirement. The company has strengthened its retail footprint with the launch of its exclusive Borosil brand stores. The company launched its first exclusive brand outlets in Pune and Gurugram, thoughtfully designed to elevate the retail experience, the stores offer consumers an immersive destination to explore Borosil's complete range of kitchen, dining, home and lifestyle solutions under one roof. Page 2 of 17 Borosil Limited August 19, 2026 I'm pleased to report that Borosil Limited has delivered a steady performance in Q1 FY27 with consolidated revenue from operations reaching INR253.6 crores, up from INR232.7 crores during the same period last year. This represents a 9% Y-o-Y growth. This steady growth achieved against challenging market conditions reflects the resilience of our business model, the strength of our execution and the continued trust and loyalty of our customers, placing us on a strong competitive footing alongside our peers. In Q1 FY27, the company achieved an operating EBITDA of INR35.9 crores against INR40.2 crores. In Q1 FY26, the EBITDA margin for Q1 FY27 was 14.6% as compared to 17.8% in Q1 FY26. The lower margins are primarily attributable to input cost inflation, particularly in fuel and packaging materials arising from the West Asia conflict. The overall net impact of the conflict on Q1 FY27 was approximately INR10 crores, which was partially offset through price increases implemented across multiple categories. Additionally, the company continued to face challenges in one of its key categories, Hydra, the vacuum insulated stainless-steel flasks and bottles category. These challenges adversely impacted the company's financial performance, both in terms of revenue and margins. In Q1 FY27, our further operating -- our other operating income stood at INR8.2 crores, primarily on account of shared service support income with the related expenses reflected under total expenses and export incentives with other operating income of INR6.2 crores in Q1 FY26. Profit before tax for the quarter was INR17.4 crores versus INR23.5 crores in the same period last year. The current quarter includes royalty income of INR4 crores and investment income of INR1.2 crores while the previous year benefited from interest income of INR1.4 crores and a onetime stamp duty reversal of INR7.2 crores, partly offset by professional fees of INR1.6 crores. The net impact of onetime items in Q1 FY26 was INR5.6 crores. Depreciation and finance costs remained largely stable with a marginal decrease in depreciation to INR21.9 crores from INR22 crores in Q1 FY26 and a slight increase in finance cost to INR1.8 crores from INR1.7 crores in Q1 FY26. Consequently, profit after tax declined from INR17.4 crores in Q1 FY26 to INR12.8 crores in Q1 FY27. As on 30th June 2026, at the consolidated level, Borosil Limited maintained a strong balance sheet with investments, cash and bank balances of INR56.2 crores against total debt of INR155.2 crores, resulting into a net debt position of INR99 crores. Now let's take a closer look at our category-wise performance for Q1 FY27. Borosil's consumer business continues to expand across both glassware and non-glassware categories under the Borosil brand, along with our Opalware range under the Larah brand. The Larah Opalware segment reported sales of INR83.6 crores in Q1 FY27 versus INR76.2 crores in Q1 FY26. Larah's performance in Q1 FY27, reflecting a 9.8% growth over the same period last year. In our glassware segment, which includes borosilicate microwavables, serving-ware, glass tumblers, lunch boxes and storage solutions, we recorded double-digit year-on-year growth of Page 3 of 17 Borosil Limited August 19, 2026 16.8% with revenues reaching INR65.6 crores in Q1 FY27 compared to INR56.2 crores in Q1 FY26. The non-glassware segment comprising a diverse portfolio of small home appliances, included bottles and flasks, cookware and other kitchen essentials, registered a marginal growth of 4.2% with a turnover increasing to INR98.1 crores in Q1 FY27 from INR94.2 crores in Q1 FY26. BIS compliance requirements continue to impact sales of our Hydra range. The company has recognized these headwinds and has proactively shaped its strategy to mitigate their impact. The successful commissioning of the Hydra plant with commercial production commencing on 2 double-wall lines during Q1 FY27 is a significant step forward. This will strengthen our supply chain and provide greater control over product ava [Showing first 8,000 characters — download PDF for full document]