Transcript of Conference call with Investors/ Analysts conducted on Saturday, 9th May 2026 to discuss the Q4 and FY26 Results.

AI summary - Q4FY26 OHT sales volume 85,820 MT +5% y-y; FY26 volume 317,356 MT - Standalone Q4 revenue INR2,894 Cr +2% y-y; FY26 revenue INR10,656 Cr flattish y-y - Standalone Q4 EBITDA INR663 Cr (22.9% margin); FY26 EBITDA INR2,423 Cr -10% y-y (22.7% margin) - PAT Q4 INR295 Cr; FY26 INR1,222 Cr - Capex FY26 approx INR2,800 Cr; FY27 planned capex INR1,500-1,800 Cr plus INR2,000 Cr additional approved - Carbon black capacity 265,000 MTPA; full utilization; expansion to 360,000 MTPA by Q1 FY27 - On-Highway segment launched CV radial and 2-wheeler tyres; PCR tyres launch planned end CY26 - Price hikes 3-5% taken; further 2% planned; raw material costs up 4-5% in Q4, expected 7-8% rise in Q1 FY27 - Net debt INR895 Cr; final dividend INR4/share recommended - FY27 volume growth expected but no guidance due to geopolitical uncertainties - On-Highway revenue target INR5,000 Cr by 2030; EBITDA margin target 23-25% company-wide - Distribution network for On-Highway segment nearly complete with 90 distributors - Focus on premium radial and specialized products to improve mix and margins