Gem Aromatics Q1 PAT Down 198.6% YoY Consolidated

| Particulars | Q1FY27 | Q1FY26 | Y-o-Y % | Q4FY26 | Q-o-Q % |

| Revenue from Operations | 83.0 | 76.4 | 8.6% | 112.2 | -26.1% |

| Gross Profit | 14.7 | 19.1 | -23.2% | 26.2 | -44.0% |

| Gross Margin (%) | 17.7% | 25.0% | -734 bps | 23.4% | -566 bps |

| EBITDA | 8.5 | 10.5 | -19.0% | 15.1 | -43.4% |

| EBITDA Margin (%) | 10.3% | 13.8% | -350 bps | 13.4% | -315 bps |

| PAT | 7.3 | 6.5 | 11.0% | 11.9 | -39.0% |

| PAT Margin (%) | 8.7% | 8.5% | 18 bps | 10.6% | -185 bps |

| EPS (Rs) | 1.4 | 1.4 | | 2.3 | |

| Cash PAT (Depreciation + PAT) | 8.9 | 8.0 | 11.1% | 13.3 | -33.3% |

| Particulars | Q1FY27 | Q1FY26 | Y-o-Y % | Q4FY26 |

| Gross Profit | 16.5 | 25.9 | -36.2% | 33.7 |

| Gross Margin (%) | 16.7% | 29.5% | -1282 bps | 30.5% |

| EBITDA | 3.3 | 14.9 | -77.7% | 15.7 |

| EBITDA Margin (%) | 3.3% | 17.0% | -1361 bps | 14.2% |

| PAT | -7.9 | 8.0 | -198.6% | |

| PAT Margin (%) | -8.0% | 9.1% | -1708 bps | |

| EPS (Rs) | -1.6 | 1.7 | | |

| Cash PAT (Depreciation + PAT) | 1.3 | 9.8 | -87.2% | |

Q1FY27 revenue from operations recorded 8.6% YoY growth, reflecting improvement in underlying business activity
The quarter is seasonally softer compared to other quarters
Clove business faced challenges following floods in Madagascar, resulting in higher raw material prices and impacting sales
The situation has now normalized, supporting a more stable operating environment
Company continues to make progress across newer product verticals, with revenue contribution expected to build progressively as customer approvals and qualifications are completed

Gross margin and EBITDA margin were impacted during the quarter primarily due to product mix and higher raw material costs
Newly commissioned facility resulted in higher operating costs
Company expects stronger product mix and operating leverage to support gradual margin improvement as contribution from higher-value products increases and capacity utilization improves

Profitability was impacted by higher raw material and operating costs
Higher depreciation of Rs. 9.1 Cr following capitalization of significant portion of ~Rs. 265 Cr capex for Dahej facility
Company expects operating leverage to support profitability as newer product verticals progressively scale up and capacity utilization improves

Company has approved incorporation of Wholly Owned Subsidiary in Brazil to distribute essential oils, aromatic chemicals and specialty chemicals
This will strengthen presence across Brazil and broader Latin American market

Cooling Agents:

Customer audits successfully completed
Initial orders secured for GEM Cool 03, GEM Cool 05 and GEM Cool 23
Order flow expected to increase progressively
Revenue contribution expected from Q3FY27 as customer qualifications are completed and commercial supplies scale up

Safranal:

Business progressing through customer approvals
Revenue contribution expected to commence towards end of Q2FY27
More meaningful contribution expected from Q3FY27 as commercial supplies scale up

Phenol Derivatives:

Trial production expected to commence towards end of Q2FY27
Followed by product approvals and quality-related processes
Commercial production targeted during Q3FY27, subject to completion of required approvals and quality processes
Meaningful revenue contribution expected from Q4FY27
Company continues to monitor raw material availability and pricing while aligning production plans accordingly

Mr. Yash Vipul Parekh, MD & CEO commented:

Q1FY27 witnessed YoY growth in revenue from operations while business continued to operate in seasonally softer quarter
Focus shifting towards utilizing and monetizing expanded manufacturing platform at Dahej and scaling newer product categories through Krystal Ingredients
Continued progress in customer engagement and product qualification
Focus remains on converting opportunities into recurring commercial business as they scale
Innovation and R&D remain central to long-term strategy with continued focus on process innovation, product customization and development of higher-value specialty molecules
Multipurpose capabilities at Dahej provide flexibility to address evolving customer requirements and support development of specialty products
Proposed Brazil subsidiary expected to enhance distribution reach in Latin America
Committed to disciplined execution and sustainable value creation
Focus on progressively scaling Krystal Ingredients' Dahej facility, strengthening product capabilities and expanding presence across global markets

Date: Friday, 14th August 2026
Time: 4:00 PM (IST)
Management Representatives: Yash Parekh (MD & CEO), Kaksha Parekh (WTD, Chairperson & CFO), Shrenik Vora (Non-executive Director), Aadit Shah (CEO's Office)
Dial-in Numbers: +91 22 6280 1256, +91 22 7115 8157
International Toll Free: Hong Kong: 800964448, Singapore: 8001012045, UK: 08081011573, USA: 18667462133
Diamond Pass Link: https://services.choruscall.in/DiamondPassRegistration/register?confirmationNumber=3236365&linkSecurityString=1c188ef16e