• Event Type: The document is a regulatory filing containing the transcript of the Q4 & FY2026 Earnings Conference Call.

• Date and Time: The conference call was held on June 04, 2026. A specific time was not mentioned in the transcript.

• Stated Purpose: The purpose of the call was to review the annual and quarterly results for the financial year 2025-2026 and provide a business update.

• Management Participants: The management participants on the call were Mr. Chetan Shah (Promoter and Director), Mr. Manan Shah (Promoter Group), and Mr. Ashish Desai (Chief Financial Officer).

• Availability of Materials: The transcript of the call was attached to the regulatory filing and is also available on the company's website at https://www.ashapura.com/investorcall.php.

• UPSI Statement: The moderator's opening remarks included a standard disclaimer that the call may contain forward-looking statements which are not guarantees of future performance and involve risks and uncertainties.

Financial & Operational Highlights Discussed:

• Financial Period Discussed: Q4 FY26 and Full Year FY26 (2025-2026).

• Q4 FY26 Performance: Consolidated revenue stood at INR 1,969 crores, a 105% growth from the previous quarter (INR 960 crores). EBITDA was INR 211 crores (vs. INR 143 crores in Q3), and PBT before exceptional items was INR 147 crores (vs. INR 89 crores in Q3).

• FY26 Full Year Performance: Consolidated revenue was INR 5,237 crores, up 91% YoY (from INR 2,739 crores). EBITDA was INR 674 crores (vs. INR 445 crores), and PBT before exceptional items was INR 450 crores (vs. INR 305 crores).

• Segmental Performance: The Guinea business generated revenue of ~INR 4,200 crores with an EBITDA of INR 561 crores. The India business (Bentonite & Allied Minerals) generated revenue of ~INR 998 crores with an EBITDA of INR 112 crores.

• Volume Guidance: For FY27, the company is targeting bauxite export volumes of 10-12 million tons, with a medium-term target of 15 million tons by FY28.

• Capex Plans: A capex of INR 150 crores is planned for the India business to upgrade plants and add new products.

• Expansion Plans: Port capacity in Guinea is being expanded from 15 million tons to 20 million tons, with one port expansion expected by end of Q2 FY27 and another by end of FY28.

• New Initiatives: The company is developing a bauxite washing plant (20,000 TPD capacity) and exploring iron ore mining and beneficiation. Seven new bentonite leases were granted in India.

• Market Context: Management discussed headwinds from high fuel costs, freight costs, and taxes in Guinea, but expressed optimism about the impending bauxite export quota system by the Guinean government, which is expected to reduce supply and improve prices.

Additional Notes Section

• Attachments: The regulatory filing included the attached transcript of the earnings conference call.

• Financial Data: Extensive financial data and forward-looking statements were disclosed and discussed during the earnings call, as detailed in the transcript.