MALLCOM (INDIA) LTD. — Investor Presentation 2025

Aug 4, 2025

Ref: MIL/BSE/NSE/25 Date: August 04, 2025

BSE Limited National Stock Exchange of India Ltd Department of Corporate Services Exchange Plaza, C-1, Block-G P. J. Towers, 25th Floor, Bandra Kurla Complex, Dalal Street, Bandra (E) Mumbai- 400 001 Mumbai- 400 051 BSE Security Code: 539400 NSE Symbol: MALLCOM

Dear Sir/Madam,

– Sub: Earnings Presentation Q1 FY26

Pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Earnings Presentation – Q1 FY26 .

The Presentation will also be available on the Company’s website, www.mallcom.in.

This is for your kind information and record.

Thanking you, Yours faithfully,

For MALLCOM (INDIA) LTD.

Digitally signed by Gaurav Raj Date: 2025.08.04 21:09:53 Gaurav Raj +05'30' Gaurav Raj Company Secretary & Compliance Officer

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Mallcom (India) Limited

E a r n i n g s P r e s e n t a t i o n – Q 1 F Y 2 6

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Largest integrated Indian One of the widest protective Employing 3,000+ skilled Personal Protective gear product range catering and semi skilled workers Equipment (PPE) to diversified industries of which 33% are women manufacturer

Experienced Management with over 40 years of Industry experience

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13 state-of-the-art Manufacturing Plants (DTA, manufacturing facilities EOU & SEZ units) located in across India, equipped with West Bengal, Uttarakhand & best-in-class machinery Gujarat with easy access to and spanning over 1 local markets, sea & airports million sq. ft of floor space

Dedicated R&D centers and teams for product innovation and improvements

New range of product launches every season

Mallcom (India) Ltd

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COMPANY OVERVIEW

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Operational Revenue (INR Mn) and EBITDA Margins (%)

• Mallcom India Ltd was founded in 1983 by Mr. Ajay Mall as a small leather gloves manufacturer headquartered out of Kolkata, India.

• Today it has grown to become one of the largest manufacturers and distributors of Personal Protective Equipment (PPE) products in India, with over 90% of orders coming from repeat customers.

• An ISO certified and government registered trading house, Mallcom provides a one stop solution for manufacturing one of the widest range of head-to-toe PPE products from helmets, eyewear, ear protection, face masks, safety garments, gloves, safety shoes, and many more.

• The company is also one of the largest exporters of PPE products from India exporting to 55+ countries across 6 continents.

• It has an expansive manufacturing footprint with 13 production facilities spread across India and captive test labs that ensure quality standards.

• Over the year the company has focused on backward integration wherever possible resulting into significant cost savings and gradual margin expansions.

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4,868
20.00%
4,106 4,207
12.51% 15.00%
14.27% 13.72% 14.38% 10.00%
1,224
5.00%
0.00%
FY23 FY24 FY25 Q1 FY26
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Q1-FY26 Geographical Revenue Mix
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Australia 1%
Americas 17%
Europe 36%
Asia 46%
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Mallcom (India) Ltd

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BUSINESS OVERVIEW

• Mallcom is a one-stop solution for all types of personal protective equipment providing the entire gamut of protection from Head to Toe.

• Mallcom is one of the few companies to have an indigenous expertise with various raw materials such as textile, leather, rubber, and plastic.

• Over three decades, the firm has gained immense knowledge and skillset to deal in an array of products such as safety helmets, face masks, leather gloves, textile gloves, nitrile gloves, safety apparels, rainwear, and safety shoes.

• The company also offers eyewear, ear protection equipment, latex gloves, neoprene gloves, and harnesses in its brand.

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Q1-FY26 Product Revenue Matrix
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	Safety Shoes 45% Garments 24% Gloves 27% Others 4%	Safety Shoes 45% Garments 24% Gloves 27% Others 4%	Safety Shoes 45% Garments 24% Gloves 27% Others 4%	Safety Shoes 45% Garments 24% Gloves 27% Others 4%
Production & Servicing Annual Capacity	1.2M Helmets	3.6M Apparel	150M Masks	14M NBR Gloves
	12M Leather Gloves 2.5M PU Gloves 100K PVC Gumboot 2.8M Knitted Gloves 3M Shoes

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FOOT BODY HAND HEAD PROTECTION PROTECTION PROTECTION PROTECTION Mallcom produces Mallcom’s exclusive Mallcom has Mallcom works sturdy shoes that workwear ranges gained expertise in in close can tackle challenges from light-weight to production of hand coordination in construction, heavy-duty industrial gear suiting the with the mining, metallurgical work wear. It also application designers and and other makes winter requirement. the users to manufacturing protection, uniforms, provide dynamic industries. and corporate casual From driving to head protection wear. welding to cut With an annual gear. resistant, it is able production capacity These provide high to meet crucial The company of more than three protection and are industrial manufactures million pairs, utilized in several applications. helmets, face Mallcom is the sectors such as masks, eyewear, leading safety shoe hospitality, healthA wide range of ear protection manufacturer and care and for general hand protection etc. distributor from industrial purposes. gears lie in the India. repertoire of Special fabrics Mallcom, including protects the wearer leather gloves, in environments such string knit gloves as heat, fire, and and nitrile gloves. extremely cold temperatures.

Mallcom (India) Ltd

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FINANCIAL OVERVIEW Q1-FY26

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CONSOLIDATED FINANCIAL HIGHLIGHTS

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Q1-FY26 Financial Performance

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Operational
EBITDA EBITDA Margin
Income
INR 176 Mn 14.38%
INR 1,224 Mn
Net Profit PAT Margin
8.09%
INR 99 Mn
Diluted EPS
INR 15.79
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Mallcom (India) Ltd

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Q1-FY26 OPERATIONAL HIGHLIGHTS

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• Increase in EBITDA Margin Y-o-Y basis was mainly attributable to lower manufacturing, Operational and other expenses incurred.

• The trial runs at newly set up Protec work wear unit at Sanand, Gujrat is now over and unit has started commercial operations w.e.f. 1st July 2025. The total Capex for the unit at the completion of 1st Phase stand at Rs.95 Cr. with the projected turnover of Rs.15 Cr. for the current financial year. The Production Capacity of this unit for Synthetic Gloves is proposed to be increased gradually with further capex planned during the current FY up to Rs.10 Cr. on account of import of additional dipping lines & knitting machines.

• The 2nd Phase of expansion at Chandipur (Ghatakpukur), West Bengal, for setting up a new unit for designing and manufacturing of Industrial Safety Shoes, with built up floor area of 70,000 Sq. Ft and Capex involving Rs. 25 Cr. is now mostly over, with further consolidation planned during the quarter. The unit is now operational and will be generating estimated turnover of Rs.25-30 Crore, during the current FY 26.

• Mallcom received Silver category award in Eastern region amongst 2-star export houses by FIEO for the FY20-21

• Established an office in UAE to address the Middle East and Africa market.

Mallcom (India) Ltd

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QUARTERLY CONSOLIDATED FINANCIAL PERFORMANCE

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Income Statement (INR Mn)	Q1-FY26	Q1-FY25	Y-o-Y	Q4-FY25	Q-o-Q
Operational Income	1,224	1,024	19.5%	1,376	(11.0)%
Total Expenses	1,048	881	19.0%	1,222	(14.2)%
EBITDA	176	143	23.1%	154	14.3%
EBITDA Margins (%)	14.38%	13.96%	42 Bps	11.19%	319 Bps
Depreciation	24	21	14.3%	27	(11.1)%
Finance Cost	20	14	42.9%	24	(16.7)%
Other Income	2	7	(71.4)%	255	(99.2)%
PBT	134	115	16.5%	359	(62.7)%
Tax	35	30	16.7%	61	(42.6)%
Profit After Tax	99	85	16.5%	298	(66.8)%
PAT Margins (%)	8.09%	8.30%	(21) Bps	21.64%	NA
Other Comprehensive Income	2	2	NA	(1)	NA
Total Comprehensive Income	101	87	16.1%	297	(66.0)%
Diluted EPS (INR)	15.79	13.67	15.5%	47.72	(66.9)%

Mallcom (India) Ltd

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CONSOLIDATED HISTORICAL INCOME STATEMENT

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Income Statement (INR Mn) FY23 FY24 FY25
Operational Income 4,106 4,207 4,868
Total Expenses 3,520 3,630 4,259
EBITDA 586 577 609
EBITDA Margins (%) 14.27% 13.72% 12.51%
Depreciation 83 79 96
Finance Cost 25 42 61
Other Income 31 41 289
PBT 509 497 741
Tax 140 134 167
Profit After Tax 369 363 574
PAT Margins (%) 8.99% 8.63% 11.80%
Other Comprehensive Income 1 (1) 6
Total Comprehensive Income 370 362 580
Diluted EPS (INR) 59.19 58.20 92.04
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Mallcom (India) Ltd

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CONSOLIDATED HISTORICAL BALANCE SHEET

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PARTICULARS (INR Mn) FY23 FY24 FY25
Assets
1. Non Current Assets 1,184 1,373 2,068
(a) Property, Plant and Equipment's 1,070 1,235 1,285
(b) Intangible Assets 1 1 -
(c) Capital Work In Progress 82 102 743
(d) Financial Assets
(i) Loans 13 12 15
(e) Non-Current Tax Assets (Net) 18 23 25
2. Current Assets 2,358 2,504 2,860
(a) Inventories 857 1,068 1,432
(b) Financial Assets
(i) Investments 270 145 127
(c) Trade Receivable 588 665 841
(d) Cash and Cash Equivalents 42 2 42
(e) Other Bank Balances 359 322 21
(f) Loans - 2 2
Other Current Assets 242 300 395
Total Assets 3,542 3,877 4,928
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PARTICULARS (INR Mn) FY23 FY24 FY25
Equity and Liabilities
1.Equity 2,032 2,375 2,996
Equity Share Capital 62 62 62
Other Equity 1,970 2,313 2,924
- - -
Minority Interest
2. Non-Current Liabilities 112 118 51
(a) Long Term Borrowings 40 37 25
(b) Other Financial Liabilities 63 63 -
(c) Deferred Tax Liabilities 9 18 26
3. Current Liabilities 1,398 1,384 1,891
(i) Financial Liabilities
(a) Short-Term Borrowings 868 890 1,133
(b) Trade Payables 413 394 574
(c) Other Financial Liabilities 51 10 10
(ii) Other Current Liabilities 66 88 169
(iii) Provisions - 2 5
Total Equity and Liabilities 3,542 3,877 4,928
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Mallcom (India) Ltd

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CONSOLIDATED FINANCIAL PERFORMANCE

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Operational Income (INR Mn)

EBITDA (INR Mn) and EBITDA Margins (%)

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PAT (INR Mn) and PAT Margins (%)
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4,868 5,400 586 577 609
4,106 4,207 4,9004,400
3,9003,400 14.27% 13.72% 14.38%
12.51%
2,900
2,400 176
1,224 1,9001,400
900
400
FY23 FY24 FY25 Q1 FY26 FY23 FY24 FY25 Q1 FY26
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574
369
363
11.80%
8.99% 8.63% 8.09%
99
FY23 FY24 FY25 Q1 FY26
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ROE and ROCE (%)
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Net Worth (INR Mn)

Net Debt to Equity (x)

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3,500 0.37
2,986
23.46% 3,000
19.98% 19.16% 2,032 2,375 2,500 0.25 0.25
18.16% 2,000
15.28% 1,500
16.89%
1,000
FY23 FY24 FY25 500
0
RoCE (%) RoE (%) FY23 FY24 FY25 FY23 FY24 FY25
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Mallcom (India) Ltd

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CAPITAL MARKET DATA

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Share Price Data (As on 30[th] June, 2025)

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60%
50%
40%
30%
20%
10%
0%
-10%
Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25
Mallcom (India) Ltd. Sensex
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Price Data (As on 30th June, 2025)	10.0 1,291.9 1,780.0/1,019.1 8,061.1 6.2 14.0
Face Value (INR)
Market Price (INR)
52 Week H/L (INR)
Market Cap (INR Mn)
Equity Shares Outstanding (Mn)
1 Year Avg. Trading Volume (‘000)

Shareholding Pattern (As on 30[th] June, 2025)

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FPI,
0.78%
Public,
25.54%
Promoter,
73.68%
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Mallcom (India) Ltd

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DISCLAIMER

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Mallcom (India) Ltd.

No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Mallcom India Limited (“Company”), which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.

Forward(looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward(looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward(looking statements. The Company disclaims any obligation to update these forward(looking statements to reflect future events or developments.

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from. Please note logo’s of other brands used in the presentation are not Mallcom’s and should not have an IP issue

This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.

Valorem Advisors Disclaimer:

Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and 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 all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.

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Mallcom (India) Ltd

For further details please contact our Investor Relations Representatives: VALOREM ADVISORS Mr. Anuj Sonpal Tel: +91(22)49039500 Email: mallcom@valoremadvisors.com Investor Kit Link: https://www.valoremadvisors.com/mallcom

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THANK YOU

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