Earnings Call Transcript-Unaudited Standalone Financial results for the Quarter ended June 30, 2026

RSPL/BSE/2026-27/ Date: 27th August 2026 BSE Limited Phiroze, Jeejeebhoy Towers, Dalal Street, Mumbai-400001 Maharashtra Scrip Code: 504903 Dear Sir, Subject: Transcript of the Earnings Conference Call related to the Unaudited Financial Results for the quarter ended June 30, 2026 Pursuant to Regulation 30 read with Para A Part A of Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit the Transcript of Earnings Conference Call made on 18th August related to the Unaudited Standalone Financial Results of Rathi Steel and Power Limited (“Company”) for the quarter ended June 30, 2026. The Transcript is available on the website of the Company at www.rathisteelandpower.com. The same was not submitted to BSE within 5 working days of conclusion of the call, inadvertently. The Earnings Conference Call concluded at 3:51 pm (IST) on August 18, 2026. You are requested to please take note of the above. Thanks and regards. Yours faithfully, For Rathi Steel and Power Limited Abhishek Verma Whole Time Director DIN: 08104325 Encl. : As above “Rathi Steel & Power Limited Q1 FY27 Earnings Conference Call” August 18, 2026 MANAGEMENT: MR. UDIT RATHI – PROMOTER – RATHI STEEL & POWER LTD MR. RAJESH JAIN – PRESIDENT – RATHI STEEL & POWER LTD MR. KUSHAL AGARWAL – ASSISTANT VICE PRESIDENT GROWTH AND STRATEGY – RATHI STEEL & POWER MODERATOR: MR. PARTH ACHARYA – KIRIN ADVISORS PRIVATE LIMITED Page 1 of 16 Rathi Steel & Power Ltd August 18, 2026 Moderator: Ladies and gentlemen, good day and welcome to Rathi Steel & Power Limited Q1 FY27 Earnings Conference Call. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions, and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risk and uncertainties that are difficult to predict. 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. Parth Acharya from Kirin Advisors. Thank you and over to you, sir. Parth Acharya: Thank you. Good afternoon, everyone. On behalf of Kirin Advisors, I welcome you all to the conference call of Rathi Steel & Power Limited. From the management team, we have Mr. Udit Rathi, Promoter; Mr. Rajesh Jain, President; and Mr. Kushal Agarwal, AVP of Growth and Strategy. With that, I now hand over the call to Mr. Udit Rathi for the opening remarks. Over to you, sir. Thank you. Udit Rathi: Hello. Good afternoon, everyone. On behalf of Rathi Steel & Power Limited, I extend a warm welcome to all of you to our Q1 FY27 earnings conference call. Thank you for taking out your time to join us today. Before I discuss our performance for the quarter, I would like to briefly introduce the company. Rathi Steel & Power has been an established participant in the Indian steel industry for more than five decades, carrying forward the legacy of the well-recognized Rathi brand. Since our incorporation in 1971, we have steadily strengthened our manufacturing capabilities, broadened our product portfolio, and remained firmly committed to quality, operational discipline, and continuous process improvement. Our operations are anchored by a modern manufacturing facility spread across approximately 12.5 acres of land in Ghaziabad, NCR region. The facility has an installed, steel melting capacity of around 85,000 tons per annum and a rolling capacity of approximately 2,00,000 per annum. We manufacture stainless steel billets, stainless steel wire rods, and TMT bars, serving a wide spectrum of applications across infrastructure, construction, engineering, and other industrial sectors. Over the years, our focus has been to build a stronger and more efficient operating platform while continuously adapting our product portfolio to evolving market requirements. This combination of an established brand, manufacturing capabilities, and product breadth continues to provide us a strong foundation for our growth ambitions. Page 2 of 16 Rathi Steel & Power Ltd August 18, 2026 Coming to our performance during the quarter, Q1 FY27 marked a healthy beginning to the year, supported by strong volume growth and improving product mix and continued expansion of our market reach. Total income for the quarter stood at INR193.67 crores, registering a year-on-year growth of 24.6%. EBITDA stood at INR7.77 crores, reflecting growth of 24.83% on a year-to- year basis. Profit after tax stood at INR3.48 crores, registering a strong year-to-year growth of almost 85%, 84.5% to be precise. PAT margins improved to 1.8%, representing an expansion of 58 basis points over the corresponding period last year. Operationally, the quarter witnessed a significant scale-up in volumes. Total volumes increased by approximately 30% on a year-to-year basis to 28,372 metric tons compared to 21,864 metric tons in Q1 FY26. A particularly encouraging aspect of the quarter was the performance of our TMT bar segment. TMT bar volumes grew by more than double to approximately 18,677 metric tons from approximately 8,200 metric tons in the corresponding quarter last year. This strong growth strengthened our overall product mix and supported the expansion in revenue during the period. The performance assumes greater significance considering the broader operating environment, which remained characterized by softer steel realizations, volatile energy prices, geopolitical uncertainties, and fluctuating demand across certain end-user industries. Against this backdrop, our ability to deliver healthy growth reflects the resilience of our operations, the breadth of our product portfolio, and the effectiveness of our market expansion initiatives. Our presence across stainless steel products and MS TMT bars products provides us with greater flexibility to respond to changing demand conditions and optimize our product mix across market cycles. We continue to place increasing emphasis on value-added products and segments that offer stronger realizations and a more attractive margin profile. Recent moderation in certain raw material prices has also provided a relatively more constructive cost environment. At the same time, we remain mindful of continued volatility across energy markets and global commodity cycles. Accordingly, our approach remains centered on cost discipline, operational efficiency, and prudent execution. I am open to taking questions now, please. Moderator: The first question is from the line of Keval Gala from Gala Ventures. Please proceed with your question. Keval Gala: Yes, hi. Good afternoon. Congrats on a great set of numbers, sir. Udit Rathi: Thank you. Keval Gala: Sir, I have some questions. Quarter one sales volume grew nearly 30%. So, what monthly dispatch run rate are you currently seeing in July and August, and is the Q1 momentum also sustaining? Page 3 of 16 Rathi Steel & Power Ltd August 18, 2026 Udit Rathi: I can't comment really on the exact numbers because we have not disclosed the same in public domain so far. But yes, we hope to maintain the same momentum as what we achieved in Q1. This is of course subject to a certain sort of Q2 has is sort of rainy season, July-August, it rains quite a bit, which of course hampers my end-use sort of applications and the usage of steel products. But since we are a diversified steelmaking company, almost at an equal split between construction industry and B2B segment, it sort of helps us to make up the volumes in one segment or the other. So yes, we are hopeful of maintaining a steady momentum going forward. Keval Gala: Okay, got it. And sir, TMT volumes more than doubled to 18,677 MT in [Showing first 8,000 characters — download PDF for full document]