Transcription of Conference Call with reference to the proposed acquisition of Omnia Holdings Limited by Solar SA Investments Proprietary Limited.

[ICICI Securities Conference] Solar Industries announced the proposed acquisition of Omnia Holdings Limited, a South African mining and agritech company, via its subsidiary Solar SA Investments. The deal aims to create a global integrated explosives and blasting solutions platform. Combined FY28 revenue is projected at INR 31,000-32,000 crores with EBITDA of INR 6,800-7,000 crores (22-23% margin). The acquisition will expand Solar's manufacturing footprint to 25 countries and distribution to 100+. Funding will be via debt with net debt/EBITDA expected below 2x by FY28. The agriculture segment is complementary, with no current plans to expand it in India. The acquisition enhances Solar's market presence in Africa and other regions, supporting long-term growth and margin expansion.