KSH INTERNATIONAL LIMITED — Investor Presentation 2026

Feb 8, 2026

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February 08, 2026

The Manager, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

The Manager, National Stock Exchange of India Limited, Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051

BSE Scrip Code: 544664

NSE Symbol: KSHINTL

• Sub.: Updated investor presentation on the unaudited standalone financial results for the quarter and nine months period ended December 31, 2025.

• Ref.: 1. Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”); and

2. Intimation of investor presentation on the unaudited standalone financial results for the quarter and nine months period ended December 31, 2025, dated February 07, 2026 (“Primary Investor Presentation”).

Dear Sir/Madam,

Pursuant to above referred Listing Regulations and Primary Investor Presentation, please find enclosed, a copy of the Updated Investor Presentation on the unaudited standalone financial results for the quarter and nine months period ended December 31, 2025.

This Updated Investor Presentation shall be accessed on the website of the Company at https://kshinternational.com/investor-relations/investor-presentation/.

You are requested to take this intimation on record.

Thanking you,

For KSH International Limited

SARTHAK Digitally signed by SARTHAK ARUN ARUN MALVADKAR Date: 2026.02.08 MALVADKAR 20:34:54 +05'30' Sarthak Arun Malvadkar Company Secretary and Compliance Officer Membership No.: A28473

Encl.: As above.

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KSH International – Investor Presentation Q3 FY2026

Investor Contact: Investors@kshinternational.com

Safe Harbour

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This presentation and the accompanying slides (the “Presentation”), which have been prepared by KSH International Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain forward-looking information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

This presentation contains certain forward-looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost overruns on contracts, our ability to manage government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward-looking statements become materially incorrect in future or update any forward-looking statements made from time to time by or on behalf of the Company.

2

KSH International: India’s Largest Exporter & one of the Leading Manufacturers of Magnet Winding Wires

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Part of KSH Group which has a presence across logistics, infra, services & distribution

• 4 operational manufacturing facilities (capacity 43,445 as of Dec 31, 2025)

• Expanding to 59,045 MTPA over next 14 months

Approved supplier of insulated rectangular wires & CTC used in HVDC[1] , 765 kV EHV[1] transformers & reactors

• 100+ domestic & global customers^

• Long-standing relationship with clients; ~94.5%[4] repeat revenue

Delivering highest EBITDA margin[3] & revenue growth[2,3] Revenue CAGR[^] : 35.55%

▪ Export [2] to 24 countries like USA, Germany, Japan, UAE, Saudi Arabia etc

▪ India’s export market grown at ~19.1% CAGR[5] ▪ KSH 29.0% operating revenue cont. from export[6]

Diversified End-Use Industry

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Power
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Renewables Industrials
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Railways
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Data Centers

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EV & ICE
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Home Appliances Refrigeration & AC
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Select Customers

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Hitachi Energy India Toshiba Transmission & Distribution
GE Vernova Siemens Energy India
Hind CG Power & Industrial Bharat Heavy Nidec Industrial
Rectifiers Solutions Electricals Ltd Automation India
1 High Voltage Direct Current & Extra High voltage 3 Amongst magnet winding wire peers 4 in FY25 i.e. those who were customers in FY24 as well 5 CAGRs for FY19-FY24 (Source: CARE Report) ^ From FY23-FY25
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6 For the 9 months ended Dec 31, 2025
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2 For three months ended Dec 31, 2025, * Capacity utilization is Production/ (Opening Annual Capacity /4+ New Capacity addition/365 days* No. of operational days for new capacity)

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Management Commentary

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“ We are pleased to once again report the highest quarterly revenue and EBITDA in our 45-year history. These results demonstrate tangible progress in introducing and utilising new capacity in a strong demand cycle, while concurrently strengthening and diversifying the business. These industry tailwinds coupled with the long-term potential for EV traction motors, railways and round wires, as well as our newly available capacity, positions us well to sustain our industry leading growth and unit economic profitability ” - Mr. Rajesh Hegde, Managing Director

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Operating
Performance
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Capacity
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Specialized Magnet
Winding Wires
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HVDC Orders
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Balance Sheet
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• Revenue from Operations grew 47% and 59% y-o-y in 9M FY26 and Q3 FY26 respectively

• EBITDA increased 55% and 23% y-o-y for 9M FY26 and Q3 FY26 respectively

• EBITDA/Ton improved to Rs 66,044 in 9M FY26 compared to Rs 50,133 last year

Supa facility added an additional 2,400 MTs capacity during Q3 FY26 bringing total capacity to 43,445 MTs

• Specialized winding wire growth accelerated to 48% and 61% y-o-y in 9MFY26 and Q3 FY26 respectively driven by CTC and Exports

• • Export revenue growth accelerated to 37% y-o-y in Q3 FY26, compared to 22% growth in Q2 FY26 In Q3 FY26 began supplying specialized wires for 37 HVDC transformers to be supplied over 12-24 months

• Repaid Rs 2,259.8 million long-and-short term debt in December 2025;

• Excluding IPO proceeds to be redeployed, debt-to-equity ratio in Q3 FY26 was 0.42x

5

Business Update for Q3 FY26

Supa facility

Acceleration of Export Volume

We added a further 2,400 MTs of specialised winding wire capacity during Q3 FY2026 in Supa. Our current annualized available capacity at 31[st] December 2025 now stands at 43,445 MTs

With capacity now available, Export revenues of Rs 213 Crore grew 37% in 3Q FY26 compared to Rs 155 Crore last year, and 8% higher than Rs 196 Crore in 2Q FY26

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HVDC orders

Debt repayment

We began supplying both the 11 HVDC transformer orders from BHEL, as well an additional order for 26 HVDC transformer order from another existing customer during Q3 FY2026. These will typically be supplied over a 12-24 month period

We have repaid Rs 226 crore of short-and-longterm debt during the last week of December 2025. Debt to Equity, (excluding IPO proceeds to be redeployed), as of 31[st] December 2025 stands at 0.42x

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6

Key Quarterly Summary for FY26 and FY25

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We added 14,400 MTs capacity during Q3 FY26 resulting in higher up front costs for the quarter. Gross Profit/Ton as well as EBITDA/Ton improved in Q3 FY26 over Q2FY26, the latter of which is expected to drive operating leverage as volume continues to increase.

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Q3 FY26 Q2 FY26 % Change Q3 FY25 Q2 FY25 % Change
Volume growth (MT) 7,404.4 7,037.4 6.1% 5,988.2 5,739.0 4.3%
Revenue from Operations (a + b + c) 8,224.7 7,121.5 15.5% 5,202.7 4,724.7 10.1%
a) Specialized Wires Revenue 5,897.1 5,096.8 21.8% 3,671.3 3,397.0 8.1%
b) Standard Wires Revenue 1,818.9 1,542.1 17.9% 1,173.3 968.0 21.2%
c) Other Operating Income 470.2 482.6 -2.8% 439.4 359.7 22.2%
Export Revenue 2,125.0 1,961.5 8.3% 1,552.2 1,612.4 -3.7%
Gross Profit/Ton (INR) 1,12,057 1,07,466 4.6% 99,972.0 87,058 14.8%
EBITDA 494 461 7.2% 402 265 52.0%
EBITDA/Ton (INR) 66,757 65,516 1.8% 67,153.8 46,114 45.6%
Proportionate Capacity+ 43,445 29,045 49.6% 29,045 29,045 0.0%
Utilisation 68% 97% 82% 79%
Profit After tax 233.2 295.9 -21.2% 257.2 129.3 98.9%
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• PAT for Q3 FY26 includes non-recurring items of approximately Rs 43.4 million (pre-tax)

• Phase-1 Supa capacity addition of 12,000 MTs occurred at the end of September 2025, and thus included in Q3 FY26

7

9M FY2026 Financial Highlights

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Revenue from Operations Specialized and Standard Revenue [1] Volume & Capacity utilization (%)
INR Mn 47.0% MTPA 29,045 43,445
25% 25%
20,886
14,205 Standard
75% 75%
Specialized
17,424 20,556
9MFY25 9MFY26 9MFY25 9MFY26 9MFY25 9MFY25 9MFY26 9MFY26
Capacity
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Increase in revenue was driven largely by increase in copper prices, mix and volume growth; Copper prices are passed through to clients

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EBITDA & Margin (%) EBITDA per ton PAT [2] & Margin (%)
INR Mn INR Mn
55.4% 52.6%
66,044
50,133
6.2% 6.5%
3.5% 3.6%
874 1,358 495 756
9MFY25 9MFY26 9MFY25 9MFY26 9MFY25 9MFY26
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EBITDA per ton growth was driven by increased sales in higher value-added products, export growth, Utilization, and fixed cost absorption, partially offset by Supa capacity addition costs

*1 Special and Standard revenue mix as a percent of Total Revenue, excluding Other Operating Revenue

2 PAT for Q3 FY2026 includes non-recurring items of approximately Rs 43.4 million

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Q3 & 9M FY2026 profit and loss account statement

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	Particulars (Amt in INR Mn)	Q3FY26	Q3FY25	Y-o-Y (%)	Q2FY26	Q-o-Q (%)	Nine Months FY26	Nine Months FY25	Y-o-Y ( %)
	Revenue from Operations	8,177.69	5,158.77	58.52%	7,121.48	14.83%	20,886.29	14204.56	47.04%
	Cost of Goods sold	7,347.97	4,560.11		6,365.19		18,649.92	12621.05
	Gross Profit	829.72	598.66	38.60%	756.29	9.71%	2,236.38	1583.51	41.23%
	Gross Profit Margin %	10.15%	11.60%	145bps	10.62%	-47bps	10.71%	11.15%	-44bps
	Employee benefits expenses	139.58	94.79		122.83		375.06	322.86
	Other Expenses	196.44	101.72		172.40		503.73	387.14
	EBITDA	493.70	402.15	22.76%	461.07	7.08%	1357.59	873.50	55.42%
	EBITDA Margin %	6.04%	7.80%	-176bps	6.47%	-43bps	6.50%	6.15%	35bps
	Depreciation and amortisation expense	70.29	46.50		38.68		142.26	105.30
	Other Income	46.88	43.95		35.61		121.41	79.14
	EBIT	423.41	355.65	19.05%	422.39	-0.2%	1215.33	768.21	58.20%
	EBIT Margin %	5.18%	6.89%	-171bps	5.93%	-75bps	5.82%	5.41%	41bps
	Finance Costs(*)	142.33	71.84		92.64		308.10	201.47
	Profit before Tax(#)	311.80	327.76	-4.87%	365.35	-14.66%	1012.48	645.88	56.76%
	Profit before Tax Margin %	3.81%	6.35%	-254bps	5.13%	-132bps	4.85%	4.55%	30bps
	Tax	78.54	70.51		69.44		256.49	150.59
	Profit After Tax	233.26	257.25	-9.33%	295.91	-21.17%	755.99	495.29	52.64%
	Profit After Tax Margin %	2.85%	4.99%	-214bps	4.16%	-131bps	3.62%	3.49%	13bps
	EPS Basic	4.00	4.53		5.21		13.19	8.72
	Diluted	3.99	4.53		5.20		13.18	8.72

• Finance costs of Q3 FY26 and nine months FY 26 include non-recurring interest costs amounting to Rs. 27.20 million pertaining to Supa related debt.

Profit before tax for Q3 FY26 and nine months FY 26 includes exceptional items amounting to Rs 16.16 million.

9

Focus on value Addition; Insulated from commodity prices with a Back-to Back order placement model

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An Illustrative Example Highlighting Impact of Changes in Price of Copper

	Copper 800 100		900 100			1100 100		Pricing Mechanism Procurement Mechanism
	Copper @800 k/ton Copper @900 k/ton Copper @1,100 k/ton Copper ('000/ton) Value Addition ('000/ton							Raw Material Pricing
	(‘000/ton)	800 k/ton 900			k/ton	1,100 k/ton
	Revenue (Copper)	800			900	1,100
	Value Addition/ton	100			100	100		Price Finalization with Client
	Operating cost/ton*	40			40	40
	EBITDA/ton EBITDA%	60 7.5%			60 6.7%	60 5.5%		Delivery

Copper Price + value add framework agreement between customer and KSH

Customer gives monthly schedule for deliveries /material pick up

KSH books copper on unknown price – spot, days close, average

KSH confirms the copper price with the client and hedge currency (in case of export) and start the copper procurement on the same day

15-20 days manufacturing lead time – Customer Inspection and then Dispatch

▪ With changing copper prices EBITDA% might change but EBITDA/ton remain constant with back-to-back order placement model ▪ EBITDA/ton is the primary driver of profitability and its growth is majorly driven by higher volume of value added specialized winding wires

• Operating cost assumed as 40k/ton for illustrative purposes

10

Strengths

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One of the leading manufacturers of magnet winding wires in India with a comprehensive suite of products used across multiple end use industries Large, strategically located, manufacturing facilities with focus on advanced technologies & new product & process development Long standing relationships with diversified customer base both domestically as well as globally Proven track record with necessary certifications & accreditations in an industry which has high barriers to entry Track record of financial performance and consistent growth Experienced Promoters & Senior Management team

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One of the leading Manufacturers of Magnet Winding Wires in India with a Comprehensive suite of Products used across Multiple End-Use Industries (1/2)

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Specialised Magnet Winding Wires (74.8% Revenue Share [1] )
End use Industry End use Application
▪ HVDC Transformers ▪ Traction Transformer
Continuously Transposed Conductors
▪ 765 kV Transformers & ▪ Loco-Traction Transformer
Reactors
Rectangular Enamelled Copper & Aluminium ▪ Traction Motors (EV) ▪ DG Set Alternators
Magnet Winding Wires
▪ Electric Motors ▪ Transformers
Bunched Paper Insulated Magnet Winding Copper
Wires ▪ Power Transformers ▪ Distribution Transformers
▪ Power & Distribution
▪ Traction Transformer
Paper Insulated Rectangular Copper & Aluminium Transformers Windings
Magnet Winding Wires ▪ Wind Generator Rotor & ▪ Hydro Generators
Stators
Standard Magnet Winding Wires (25.2% Revenue share [1] )
Round Enameled Copper Magnet Winding Wires ▪ Traction Motors (EV) ▪ Home Appliances
▪ Auto Electricals/ EV ▪ Motors & Alternators
Round Enameled Aluminium Magnet Winding
Wires ▪ Hermetic Compressors ▪ Switchgear
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Source: CARE Report

1 indicates year ended March 31, 2025 Revenue

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One of the leading Manufacturers of Magnet Winding Wires in India with a Comprehensive suite of Products used across Multiple End-Use Industries (2/2)

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End-Use Industry Growth Drivers

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End Use Industry
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Applications
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Growth Drivers
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Power & Distribution
Transformers
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Windmill & Hydro
Generators
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BLDC & regular motors
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Motors in
Automobiles & EV
traction motors
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• 2x growth expected in Power generation capacity by March 2032

• Multi-decade growth opportunity with expected investment of I NR 9.16 Tn In transmission sector

Non-fossil fuel-based power capacity to increase from 217.5 GW to 613 GW (FY24-FY32); with government’s deep focus on green energy

Increasing adoption of consumer electronics, surge in demand for IoT-enabled devices EV adoption rates in India are projected to reach 10-12% by FY26 & 30-35% by FY30

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Loco-Traction
• Expansion of rail & metro networks across major cities;
Transformers & • 2x increase in operational metro lines in next 4–5 years
Traction Motors
Diverse Suite of Products across various End-Use Industries gives an opportunity to Cross Sell Products
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Source: CARE Report

13

Large, Strategically located, Manufacturing Facilities with focus on Advanced Technologies, New Product & Process Development

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Strategically located Manufacturing Facility within close Proximity to the Port & Customers

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Unit 1: Taloja Unit 2: Chakan Unit 3: Chakan Unit 4: Supa
(Capacity : 4,241 MT)^ (Capacity : 17,320 MT)^ (Capacity : 7,484 MT)^ (Phase-I 14,400 MT)
located closer to JNPT [1] , Navi
Mumbai ; enables KSH to
achieve cost efficiencies &
reduce logistics costs
Completed Phase-I+ of fourth Unit located in Supa [2] , Maharashtra [] ; located closer to customers focusing on expansion
Annual Installed Capacity Focus on New Product & Technology led Capacity Expansion
Ability to “Make in India – Make for World” with its strong Accreditations &
Certifications
23,729 29,045 Phase 1+ Phase 2 59,045
MT MT 14,400 MT PA 15,600 MT PA MT
Expertise in ultra-precision manufacturing positions as a preferred player in providing
Completed as
Mar 31, 2022 June 30, 2025 of Dec. 2025 of Q4FY27By end [3] By end of Q4FY27 [3] advanced solutions for large & HVDC transformers
Accreditations & Certifications
Introduction of specialized rectangular enameled magnet winding wires for EV reflects
ability to adapt to emerging industry trends
Plans to expand the capacity by 30,000 MT by end of Q4 FY27 at the Supa
manufacturing facility, out of which phase 1+ of 14,400 MT capacity expansion has
been completed by the end of Q3FY26
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Jawaharlal Nehru Port in Navi Mumbai, Maharashtra

^ as on 30 June 2025

2. within 250 kms radius to several other companies such as CG Power, Siemens, etc. Source: CARE Report

*as on December 2025

1. Co. plans to expand

14

Long Standing Relationships with Diversified Customer Base both Domestically as well as Globally

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KSH Magnet Winding Wires are globally recognised by Industry Leaders

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By meeting the standards of global companies, KSH has established itself as reliable supplier for critical applications in power generation, T&D

TOSHIBA

Strength of customer relationships is attributable to ability to customize to customer 1 specifications & requirements

Out of top 10 customers[1] , 5 customers with vintage of 10 years, 2 with vintage of 5 years and the other 3 with vintage of 2 years

2

Geography Wise Revenue Split[1]

Leading to strong leadership in Export Market

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+24.3% Y/Y
5,903.6
5,701.6
4,863.4
4,110.4
FY23 FY24 FY25 9M
Dec 2025
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Worldwide Reach1

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29.0%
32.7%
37.91% Sweden
42.48%
Netherlands Germany
Czech Republic
Belgium Hungary
Austria Romania
USA
Spain Lebanon Kuwait Bangladesh South Japan
Export UAE Korea
Saudi Oman Thailand
Arabia
71.0% Domestic Malaysia
67.3%
57.52% 62.09% Sri Lanka Singapore
Brazil
South Africa
FY23 FY24 FY25 9M Dec 2025
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1. Domestic and Export mix based on revenue from operations excluding other operating revenue

15

Proven Track Record with necessary Certifications & Accreditations in an Industry which has High Barriers to Entry

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Distinguishing Features of KSH International End utility approval for Transformers & Reactors
Organization Product
Advanced Manufacturing Extensive Engineering
Infrastructure Expertise
PICC & CTC Conductor for HVDC Converter Transformers,
Power Grid
transformers & reactors up to 765kV
NTPC Continuously Transposed Conductor (CTC)
NPCIL CTC up to 220KV class of Power Transformers
Diverse Product Portfolio of
Strong, Enduring Relationships
High-Quality Magnet Winding CTC conductors for 3 phase Drive Locomotive
with Customers RDSO
Wire Transformers
Significant Barriers to Entry through Global Certifications & Approvals
Magnet Winding Wires – Barriers to Entry
▪ Consistently meeting rigorous requirements of
critical applications in power generation &
KSH
Stringent Pre-Qualification High upfront Strong reputation Difference transmission sector by delivering high-quality
Requirements & credibility winding wire solutions
Investment
▪ Strong enduring relationship with customers
▪ Ability to deliver customized solutions , positioned
as a leading & dependable partner
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Source: CARE Report

16

KSH International – Key Milestones

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2025-2026
▪ Completed Phase I operations of
Supa facility
2023
(Capacity 14,400 MTPA)
▪ Crossed ₹10,000 Mn in revenue
▪ Exclusive license agreement with
from operations
HPW Metallwerk GmbH
▪ Received Best Supplier Award for
FY23 by Toshiba Transmission &
Distribution Systems (India) Pvt. Ltd.
2019
Established a manufacturing facility
of Standard Magnet Winding Wire
at Khalumbre, Chakan with a
maximum capacity of 400
MT/month 2024-2025
Secured purchase order in the electric
vehicles sector
2006
1979 Established a manufacturing
Incorporated as facility at Birdewadi, Chakan with 2022
“Bhandary Metal a maximum capacity of 150 Export revenue
Extrusion Private MT/month exceeds
Limited”
₹ 3,000 Mn
2017 - 2018
▪ Received “Best Vendor of CMM Group”
from BHEL, Bhopal - 2017
▪ Awarded Certificate of appreciation by GE
2014
Power Grid for Outstanding support as
1996 Export revenue
exceeds Strategic supplier partner to GE Power-Grid
Name changed to “KSH Solutions - 2018
₹ 1,000 Mn
International Private
Limited”
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Way ahead ▪ Focus on higher value-added critical products ▪ Increase presence in international markets ▪ Improve unit economics & drive growth

17

Experienced Promoters, Independent Directors & Senior Management team

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Mr. Kushal Hegde - Chairman & Executive Director

• Bachelor’s degree in art from Bombay University

▪ Associated with Company since incorporation; 45+ years of experience in field of strategy & management

• Currently involved in strategy & management functions

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Mr. Rohit Kushal Hegde – Non Executive Director

• MBA from Sheffield Hallam University & an executive master in change from INSEAD

• Associated with the Company since 2000; 24+ years of experience in field of strategy & management

• Currently involved in strategy formulation & management functions

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Mr. Rajesh Kushal Hegde – Managing Director

• Bachelor’s degree of science in mechanical engineering from Michigan Technological University & master’s degree from Oklahoma State University

• ▪ Associated with the company since 1996; 28+ years of experience in field of strategy & management

• Currently involved in strategy formulation & management functions

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Mrs. Rakhi Girija Shetty – Whole Time Director

• Bachelor’s degree in arts from University of California & master’s degree in science from the University of South Florida (USA)

• Associated with Company since 2006; 18+ years of experience in CSR & management

• Currently involved in CSR initiatives & management functions

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Mr. Dinesh Hirachand Munot

• Bachelor’s degree in engineering (electrical) from Shri Govindram Seksaria Institute of Technology & Science, Indore

• Currently associated with ZF Steering Gear (India) Ltd as chairman & WTD; previously worked as President of Automotive Components Manufacturers Association of India

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Mr. Ram Kumar Tiwari

• Master’s degree in science (engineering) from Indian Institute of Science, Bangalore & diploma from Institution of Engineers, India

• Previously associated with companies like Bharat Heavy Electricals Ltd., Alkatech Consultants & Solar Energy Corporation of India

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Mr. Ajay Shriram Patil

• Member of Institute of Cost Accountants of India

• Previously associated with companies like Cummins India Ltd., MAHLE Filter Systems India Pvt. Ltd., Honeywell International India Pvt. Ltd. & Eaton Corporation

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Ms. Indu Jacob

• MBA from University of Chicago

• Previously associated with companies like Citibank N.A., Merrill Lynch, Aditya Birla Management Corporation Pvt. Ltd., Swiss Singapore Overseas Enterprises PTE Limited & Thermax Ltd.

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Strategies

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Increase focus on higher value-added critical products, focusing on high value segments & launching new products

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Increase presence in international markets & expand global reach

Increase wallet share of existing customers

Continue to focus on improving operating efficiencies through scale & backward integration

Becoming a more sustainable partner to customers

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Increase focus on Higher Value-Added Critical Products, focusing on High Value Segments & launching new Products

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Developing higher value- Focus on Sector specific Investments in advanced
added products requirements manufacturing
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Improvement
margin profile &
drive growth
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High focus on Value-Added Critical Products in Transformer Segment
Revenue from Specialised
India’s Transformer Market (INR bn.)
winding wire
78.57
74.79%
Supply high quality wires
45.51
FY25 for large transformer
segment
200.20
132.64
25.21%
CY 23 CY 28F
Standard Magnet winding wire
765 kV & Large Transformers
Specialized Magnet winding wire
Small & medium Transformers
Proven track record of supplying high quality winding wires for large & HVDC
1
segments ….
2 ….. expected to grow faster than small & medium power transformer segment
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Efforts aligned with High-Growth Industries such as EV, FMEG etc.

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Intend to utilise an increased proportion of
capacity for EV from new
manufacturing facility at Supa
Shift towards EVs will contribute significant
growth to winding wire consumption
Aim to diversify revenue streams, enhance
competitive positioning & drive sustainable,
margin-accretive growth
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Indian EV Market Size (INR Bn)
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113.90
CAGR 66.58%
3.20
2022 2029F
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Indian FMEG Market

• Air Conditioner (CAGR[1] :10.09%) Refrigerator (CAGR[1] :10.10%) & BLDC fans are the fastgrowing categories with in FMEG market; rising disposable incomes & availability of easy financing options

• CAGR from FY24 to FY29

Source: CARE Report

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Increasing Presence in International Markets & Expand Global Reach

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China +1 Strategy

Expand Global Reach

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Offer a reliable alternative to global customers seeking to mitigate risks

Presence across 24 geographies ; Seek to enter into new international markets

Diversifying Revenue Base

Enhancing Brand Recognition

Expanding geographical footprint helps to mitigate risks associated with economic fluctuations

Aim to expand network by appointing experienced local sales agents in targeted regions

Cross-Sell Products

Strongly positioned for further expansion of International presence

Offer same product to additional locations of existing customers

Proven track record, strong brand & reputation India’ export expected to grow at 11%-14% CAGR[1]

Source: CARE Report 1 From FY24 -28

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Increasing Wallet Share of Existing Customers

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Long Standing Relationship with Customers: Strategic Opportunity to Deepen Engagement & Drive Sustained Growth

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Offer wider product & customized solutions

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Co-develop advanced winding wire & products to address emerging requirements & technological advancements

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Enhance customer loyalty & increase share of wallet

Diverse Suite of Products across various End-use Industries: An opportunity to Cross Sell Products

Example 1

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Example 2
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Supplied Specialised Magnet
Winding Wire to
transformer division
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Supplied Customized Wire
Solutions for Transformer
unit
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Supplied Standard Magnet
Winding Wire to Motor Division
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Supplied Standard Winding Wire
for Motors Business
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Cross-Selling remains a core Pillar of Growth Strategy

Aim to supply winding wires & related solutions across multiple locations & business divisions

Identify new product requirement across business unit

Reduced dependence on Top 10 Clientele (58.99% in FY23 to 50.80% in 9 month ended December 31, 2025)

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INR Mn
47.5%
41.0% 42.9%
49.2%
59.0% FY23 57.1% FY24 52.5% FY25 50.8% 9M Dec 25
₹ 10,494.60 ₹ 13,828.15 ₹ 19,282.93 ₹ 20,937.58
Top 10 clientele Rest clientele
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Continue to focus on Improving Operating Efficiencies through Scale & Backward Integration

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Focus on Sustainability Integrating renewable energy to significantly reduce carbon footprint & align with global sustainability trends

Backward Integration (Proposed in-house Integrating renewable energy to significantly upcast copper rod manufacturing reduce carbon footprint & align with global capabilities) sustainability trends Sold INR 1,203.90 Mn scrap in FY25, Backward Integration i.e. Green Copper to Optimizing Operational Efficiencies by reducing reduce input costs & help the Company’s Power Costs sustainable efforts Plan to invest in captive renewable energy generation (roof top solar) to reduce long term power cost & carbon footprint Investing in Advanced Machinery Incorporating advanced machinery with Economies of Scale precision manufacturing expected to By increasing production volumes, can reduce material wastage significantly leverage economies of scale & improve leading to improvement in profitability overall cost competitiveness

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A B C D E
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