VIDHI SPECIALTY FOOD INGREDIENTS Q2 CONCALL: REVENUE UP 82% YOY, PLANS ₹100–120 CR CAPEX & TARGETS ₹225–250 CR REVENUE POTENTIAL FROM NEW DAHEJ EXPANSION

• MANAGEMENT EXPECTS H2 FY27 PERFORMANCE TO BE SIMILAR TO OR SLIGHTLY BETTER THAN H1, SUPPORTED BY EXISTING ORDERS & MANUFACTURING DEMAND • COMPANY PLANS COMBINED INVESTMENT OF ₹100–120 CR ACROSS DAHEJ EXPANSION & COATICON PHARMACEUTICAL COATINGS FACILITY AT ROHA • MANAGEMENT TARGETS ₹75–85 CR INVESTMENT IN NEW DAHEJ FACILITY, WITH POTENTIAL ANNUAL REVENUE OF ₹225–250 CR AFTER COMMERCIAL RAMP-UP • DAHEJ EXPANSION CONSTRUCTION EXPECTED TO BEGIN IN Q4 FY27, WITH COMMISSIONING TARGETED BETWEEN MID & END FY28 • MANAGEMENT EXPECTS EXISTING DAHEJ FACILITY TO REACH FULL UTILIZATION DURING FY27, WITH EFFECTIVE ANNUAL CAPACITY OF APPROXIMATELY 7,500 MT • EFFLUENT TREATMENT IMPROVEMENTS EXPECTED TO ADD 50–75 MT MONTHLY PRODUCTION FROM Q4 FY27, SUPPORTING ANNUAL OUTPUT POTENTIAL OF APPROXIMATELY 7,000 MT • COMPANY PLANS ₹25–35 CR INVESTMENT IN COATICON PHARMACEUTICAL TABLET COATINGS FACILITY AT ROHA, TARGETING DOMESTIC & INTERNATIONAL PHARMA CUSTOMERS • MANAGEMENT EXPECTS COATICON CUSTOMER APPROVALS TO TAKE 6–12 MONTHS, WHILE MEANINGFUL COMMERCIAL SCALE-UP COULD REQUIRE 2–3 YEARS • Q2 REVENUE UP 82% YOY TO ₹136.5 CR, EBITDA UP 49.2% TO ₹26.4 CR & NET PROFIT UP 66.9% TO ₹17.6 CR • Q2 EBITDA MARGIN DECLINED TO 19.3% FROM 23.6% YOY, REFLECTING A HIGHER CONTRIBUTION FROM LOW-MARGIN TRADING REVENUE • H1 REVENUE UP APPROXIMATELY 74% YOY TO ₹282.8 CR, EBITDA UP 37.1% TO ₹52.4 CR & NET PROFIT UP 49.3% TO ₹34.7 CR • H1 CORE MANUFACTURING REVENUE UP APPROXIMATELY 42% YOY TO ₹208 CR, WHILE Q2 MANUFACTURING REVENUE INCREASED SEQUENTIALLY TO ₹108.62 CR • H1 TRADING REVENUE INCREASED TO APPROXIMATELY ₹75 CR FROM ₹16 CR YOY; MANAGEMENT INDICATED TRADING MARGINS OF ONLY 3–4% & DESCRIBED THESE SALES AS OPPORTUNISTIC • MANAGEMENT CONTINUES TO PRIORITIZE HIGH-VALUE, HIGH-MARGIN PRODUCTS OVER PRODUCTION TONNAGE, WHILE PLANNING TO FUND EXPANSION PRIMARILY THROUGH INTERNAL ACCRUALS • EXPORT FREIGHT COSTS INCREASED SHARPLY ON CERTAIN ROUTES, WHILE HIGHER WORKING CAPITAL REQUIREMENTS, LOW-MARGIN TRADING, DAHEJ EXECUTION & SLOW PHARMA CUSTOMER APPROVALS REMAIN KEY RISKS

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