HUHTAMAKI

Current scenario: - Recorded strong volume growth of about 7% YoY for Q3 CY26, contributing to healthy overall top-line growth. - Achieved record quarterly sales of ₹748 crores, up 24% YoY, driven by a healthy combination of volume growth, product mix, and raw material cost pass-through. Changes in trends: - Baddi labels plant restructuring and closure announced during the quarter, with operations smoothly transitioned to plants in Ambernath and Bangalore, resulting in a one-time restructuring charge of ₹9.6 crores. - Margin volatility between quarters is driven primarily by timing lags in raw material cost pass-throughs and sudden raw material price fluctuations. Management Guidance & Outlook: - Aspiration is to maintain steady volume growth and continuous margin improvement in coming quarters despite geopolitical and inflationary headwinds. - Capacity utilization remains comfortable, with no major capex requirement foreseen for the next 2 to 3 years to meet demand. Growth Drivers: - Focus on high-value, complex, and sustainable packaging products (such as the award-winning blueloop and mono-material ranges) rather than commoditized segments. - Gaining market share in a fragmented industry through continuous product innovation and reliable customer supply.

- Huhtamaki India Limited has submitted the link for the audio and video recording of the Earnings Conference Call held on October 30, 2026, for the 3rd quarter ended September 30, 2026. - The recording can be accessed via YouTube or on the company's official website in compliance with SEBI LODR Regulations.

- Net Sales rose 23.7% YoY to ₹7,481 Mn driven by volume growth and pricing. - EBITDA increased 1.2% YoY to ₹656 Mn; margin contracted to 8.8% from 10.7%. - PAT declined 19.1% YoY to ₹297 Mn, impacted by ₹96 Mn restructuring cost for Baddi plant closure.

- Huhtamaki India Limited reported Q3 2026 net sales of Rs. 7,481 million, a 23.7% increase YoY compared to Q3 2025. - EBIT before exceptional items stood at Rs. 521 million, remaining broadly in line with the corresponding period of last year. - For the nine-month period ended September 2026, net sales grew by 15.7% to INR 20,704 million and EBIT before exceptional items increased by 22% to Rs. 1,528 million YoY. - Growth was driven by volume expansion, improved product mix, pass-through of material costs, and ongoing operational efficiency initiatives.

Q3 CY26 Revenue ₹768.8Cr vs ₹624.7Cr (▲23.1% YoY) EBITDA ₹50.1Cr vs ₹55.5Cr (▼9.7% YoY) PAT ₹29.7Cr vs ₹36.8Cr (▼19.1% YoY) EBITDA Margin 6.5% vs 8.9% (▼236bps)

Concall Schedule Concall Date: Friday, October 30, 2026 Concall Time: 03:30 PM IST

- Huhtamaki India Limited received a demand notice dated September 10, 2026, from Dadra and Nagar Haveli Planning and Development Authority. - The notice is for a penalty of Rs. 17,54,823/- for granting an Occupancy Certificate for part of its Silvassa factory premises, following a delay in obtaining it. - The company stated there is no impact on financial or other operations beyond the penalty amount.

- Huhtamaki India Limited is consolidating its pressure-sensitive (PS) Labels operations by closing its Baddi manufacturing facility, effective October 30, 2026. - This strategic move aims to improve operational efficiency, leverage scale, and rationalize costs. - The Baddi unit contributed 0.92% of the company's FY2025 revenue and is not considered material from a materiality threshold perspective.

- Appointment of Ms. Akanksha Kandoi as Company Secretary and Compliance Officer (Key Managerial Personnel) of Huhtamaki India Limited. - The appointment is effective from August 24, 2026. - Approved by the Board of Directors at their meeting held on August 19, 2026. - Ms. Kandoi has over 23 years of experience in corporate governance, secretarial, compliance, and regulatory matters.

- Huhtamaki India Limited announced the appointment of Ms. Akanksha Kandoi as Company Secretary and Compliance Officer (Key Managerial Personnel). - Her appointment is effective from August 24, 2026. - Ms. Kandoi has over 23 years of experience in corporate governance, secretarial, and compliance functions.

- CRISIL reaffirmed 'Crisil AA-/Stable' Long Term Rating for Huhtamaki India Limited's ₹88 Crore bank facilities. - The rating is supported by improved operating margins (7.7% in 2025 vs 4.6% in 2024; 8.4% in H1CY26 vs 6.4% in H1CY25) and H1CY26 revenue growth.

- Management reported a solid performance in Q2 and H1, emphasizing a broad-based growth driven by price, volume, and product mix, attributed to their profitable growth strategy. - EBITDA margins saw significant improvement year-on-year, with the company maintaining a strong financial position and nil net debt. - Markets are expected to remain robust and grow by 4-5% in the near future, aligning the company's growth target with market expansion. - Committed to continuing the profitable growth strategy by being selective on customers and product mix, and focusing on sustainable solutions like 'blueloop' (currently below 30% adoption for new material, but assets highly utilized for other products). - Plans to continue investing in modernization and CapEx for organic growth to enhance productivity and cater to future demand, rather than current inorganic acquisitions. - Initiatives in sustainability include bringing a solar captive power plant online (covering ~50% of Khopoli plant's power by Q3), progressing on decarbonization roadmap, and maintaining Zero Liquid Discharge. - Future growth is expected to be balanced between domestic and export markets, with exports contributing approximately 30% of sales volume.

- Huhtamaki India Limited announced the availability of the audio recording of its Earnings Conference Call for the 2nd quarter ended June 30, 2026. - The recording is accessible via YouTube (https://youtu.be/BGY3dcA2wxQ) and the company's website.