CORDELIA

Waterways Leisure Tourism Limited informed the exchange about a press release regarding Cordelia Cruises entering its two-ship era with 'Sky' in Mumbai and 'Empress' in Kochi. - Nearly 6,000 guests embarked and disembarked across both ships during a major Mumbai turnaround on October 23, 2026. - Cordelia Sky accommodates 2,280 guests and sails from Mumbai, offering weekend cruises, Goa, and Lakshadweep itineraries. - Cordelia Empress commenced sailing from its new homeport in Kochi, offering routes to Lakshadweep, Maldives, and Sri Lanka. - The fleet is further set to expand with Cordelia Sun scheduled to join in 2027.

Current scenario - Waterways Leisure Tourism reported strong Q2 and H1 FY27 results, driven by higher load factors, improved average ticket prices, and increased average revenue per passenger. - The company took early delivery of 'Cordelia Sky' in Mumbai on October 15, 2026, one month ahead of schedule, increasing overall guest capacity by approximately 126% with revenue contribution expected from H2 FY27. - The company received USD 5.2 million in compensation from Norwegian Sky Limited for the early handover of the vessel. Management Guidance & Outlook - The Indian overnight ocean and coastal cruise industry is expected to grow at a 20% to 25% CAGR between FY26 and FY31, supported by favorable government initiatives and extensive coastline. - Delivery of the next sister vessel, 'SUN', remains firmly on schedule for delivery in 11 months, and initial discussions for further fleet expansions beyond SUN are underway. - The company aims to establish India and Southeast Asia as major global cruise hubs while maintaining a strong focus on cost discipline and revenue optimization to absorb macroeconomic headwinds like higher fuel costs. Growth Drivers - Fleet expansion with larger vessels featuring increased suite and balcony inventory (Cordelia Sky and SUN) driving higher cabin pricing and onboard revenue potential. - Growing demand for weddings, celebrations, and corporate events on cruise itineraries, alongside the rollout of the 'Chairman's Club' loyalty program to enhance repeat travel.

- Audio recording of the analyst/investor meet held on October 09, 2026, has been made available on the company's website. - The meet covered the Unaudited Financial Results for Q2 and H1 ended September 30, 2026.

Waterways Leisure Tourism reported Q2 FY27 Consolidated Revenue of ₹1,329.00 Mn vs ₹1,015.36 Mn (▲31% YoY) EBITDA of ₹776.82 Mn vs -₹24.00 Mn (▲3337% YoY) PAT of ₹584.96 Mn vs -₹89.34 Mn (▲755% YoY) EBITDA Margin 58.45% vs -2.36% (▲6081bps) Delivery of Cordelia Sky achieved one month ahead of schedule, expanding capacity by 126%.

- Q2 FY27 Revenue from operations rose 31% YoY to ₹1,329 Mn - Q2 FY27 EBITDA surged to ₹777 Mn (margin at 58.45%) - Q2 FY27 PAT increased 755% YoY to ₹585 Mn - H1 FY27 Revenue stood at ₹3,230 Mn (+16% YoY) with PAT of ₹813 Mn (+215% YoY)

Q2 FY27 Consolidated Revenue ₹143.00Cr vs ₹101.54Cr (▲41% YoY) EBITDA ₹70.77Cr vs -₹5.04Cr (Turnaround YoY) PAT ₹58.50Cr vs -₹8.93Cr (Turnaround YoY) EBITDA Margin 49.5% vs -5.0% Note: Q2 FY27 results include an exceptional income of ₹49.49Cr (USD 5.2M) received by subsidiary Bay Cruise Investments Inc. for early vessel delivery.

Concall Schedule Concall Date: October 9th, 2026 Concall Time: 05:30 p.m. (IST)