Transcript of the Investor Call on Un-audited Financial Results (Consolidate and Standalone) for the quarter ended June 30, 2026.

AI summary - Q1 FY27 standalone revenue grew 14%, EBITDA 9%, PAT 13% - Gross margin steady near 60%, EBITDA margin stable at 30% - E-commerce D2C and marketplace omni channels grew ~60%; SOR 3P slower due to discount reduction - Opened net 9 stores; cautious disciplined store expansion planned - PAT margin impacted by marketing spend, new store costs, lower treasury income, and talent investment - FY27 PAT margin guidance maintained at 13-15%, with 15% PAT growth target - Clarks brand expanding rapidly; 700 stores target; FILA brand revival ongoing with 3 new EBOs - E-commerce growth expected at 20-30% going forward, discounting reduced to protect brand - Management confident in steady double-digit growth and margin stability despite inflation and BIS challenges