Orkla India Ltd. · NSE:ORKLAINDIA
Orkla India — Q2 FY26 Earnings Presentation
30 slides from Orkla India's earnings presentation, Nov 13, 2025
Slide 1: Exchange filing cover letter
November 13, 2025 BSE Limited, National Stock Exchange of India Limited, 20th Floor, P.J. Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai - 400001. Mumbai – 400 051 Scrip Code: 544595 Scrip Symbol: ORKLAINDIA Dear Sir/Madam, Subject: Investors /Analysts’
Slide 2: Investor presentation for the quarter ended 30 September 2025
13th November 2025 Investor presentation for the quarter ended 30 September 2025
Slide 3: Disclaimer
Disclaimer This presentation (“Presentation”) prepared by Orkla India Limited ("Company") does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securitie
Slide 4: Agenda
Agenda 01 Orkla India introduction 02 Macro-environment 03 Key business highlights 04 Financial performance 05 Additional information 3
Slide 5: Orkla India introduction
01 Orkla India introduction 4
Slide 6: Orkla India: Trust, authenticity and taste for decades
Orkla India: Trust, authenticity and taste for decades Multi-category Indian food Deeply rooted in South Catering to every meal FY’25 Revenue-mix company Indian culinary heritage occasion Spices & Convenience foods 9% South India International 21% Rest of India #1 in Karnataka #1 in Kerala Largest b
Slide 7: Macro-environment
A ‘Orkla INDIA 02 Macro-environment
Slide 8: Recovering macro-environment
Recovering macro-environment Stimulus through government Real GDP growth (yoy %) CPI1 and CPFI1 (yoy %) policy CPI 7.8% CPFI Income tax reforms 8.4% 7.4% 9.2% 5.2% 6.4% 5.5% Interest rate cuts 3.3% 2.1% 2.7% 1.5% 5.6% -1.1% GST rate cut and slab -2.3% simplification Sep’24 Dec’24 Mar’25 Jun’25 Sep’2
Slide 9: Key commodities' price trend
Key commodities’ price trend (10.8%) (12.3%) 1.06x 1.00x 0.96x 0.99x 0.87x 0.86x 0.86x 0.81x Spices 0.76x 0.75x Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 1.27x 1.32x 1.24x 1.22x 1.09x 1.13x 1.09x 1.13x 1.00x 1.05x Wheat Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 1.
Slide 10: Key business highlights
A ‘Orkla INDIA 03 Key business highlights
Slide 11: Consolidated Q2'FY26: Volume led revenue growth
Consolidated Q2'FY26: Volume led revenue growth ❑ Revenue growth of 4.9% yoy, led by volume growth of 7.7% ❑ Spices volume grew by 5.9% yoy however, overall spices revenue growth remained subdued at 0.1% due to continued deflationary pressure on key raw material prices ❑ Convenience foods revenue gr
Slide 12: Spices: Continue driving penetration and usage
Spices: Continue driving penetration and usage MTR pure spices Strengthening “local” portfolio Distribution expansion by Strong double digit 18.9% in last two years volume growth MTR MTR Eastern Superr Eastern Thani Nadan Telangana Chilli Byadgi Chilli Kashmiri Chilli Sambar Powder Strong rural acti
Slide 13: Transforming Convenience foods
Transforming Convenience foods Convenience foods: Sweets, Breakfast, and Meals Convenience foods grew by 19.2% yoy Sambhar masala to ready-to-cook chilled Sambhar paste Sweets grew by 26.4% yoy Dosa mix to Puttu powder to ~2x ready-to-cook Share of NPD1 to chilled dosa batter 5-mins Puttu revenue yo
Slide 14: Strengthening play in international markets
Strengthening play in international markets Building Convenience foods play and catering to local taste through Arabic spices 14.7% Revenue growth in Eastern Madhuram range Arabic range yoy GCC1 Eastern 5-min breakfast range Note: 1) GCC is Gulf Cooperation Council and consists of 6 member countries
Slide 15: Continuing to strengthen the digital play
Continuing to strengthen the digital play Social media and digital-commerce activations 48.7% Digital commerce growth yoy 9.9% 7.1% Revenue contribution from digital commerce in domestic markets Q2'FY25 Q2'FY26 14
Slide 16: Financial performance
A ‘Orkla INDIA 04 Financial performance
Slide 17: Consolidated Q2'FY26 financial highlights
Consolidated Q2’FY26 financial highlights Revenue from EBITDA# PAT operations INR 6,503mn INR 1,097mn INR 767mn (+4.9% yoy) (-3.3% yoy) (-7.3% yoy) Volume (Tonnage) EBITDA# margin PAT margin +7.7% yoy 16.9% 11.8% Data represented is in terms of Indian fiscal year ended 31st March #: EBITDA is calcul
Slide 18: Consolidated Q2'FY26 revenue breakdown
Consolidated Q2’FY26 revenue breakdown Revenue from operations* (INRmn) Revenue by category (INRmn) Revenue by geography (INRmn) Consolidated Spices Convenience foods Domestic International volume growth 3.5% 8.5% 7.7% +6.8% +6.8% 23,947 6,496 6,496 6,084 6,084 1,301 1,221 2,108 2,514 4,863 5,195 5,
Slide 19: Consolidated Q2'FY26 profitability breakdown
Consolidated Q2’FY26 profitability breakdown EBITDA (INRmn) EBITDA (INRmn) yoy Commentary 16.6% 18.7% 16.9% 18.3% 16.9% ❑ One-time GST 2.0^ migration costs Excluding GST 2.0^ and reduced PLI#, excluding which -3.3% migration expenses and PLI; EBITDA (adj) EBITDA (adj) growth was 7.6% and margin 17.8
Slide 20: Consolidated H1'FY26 performance
Consolidated H1’FY26 performance Revenue from operations* (INRmn) EBITDA (INRmn) PAT (INRmn) 3.5% 8.0% 16.6% 18.2% 17.8% 10.7% 13.1% 12.5% 23,947 3,964 2,557 +0.6% +5.4% +2.6% 1,546 1,556 12,473 2,158 2,215 11,833 FY25 H1’FY25 H1’FY26 FY25 H1’FY25 H1’FY26 FY25 H1’FY25 H1’FY26 ❑ One-time GST 2.0^ mig
Slide 21: Closing remarks
Closing remarks 20
Slide 22: Additional information
A ‘Orkla INDIA Additional information
Slide 23: India: Food is local / regional
India: Food is local / regional Regional preferences are cultural and closely tied India A culturally rich & diverse nation to agriculture & seasonal produce, further influencing local consumption habits Language North South Wheat-based dishes and rich, Rice-centric, spicy meals, creamy gravies samb
Slide 24: Focused on South India, Orkla India operates in a large market well-poised for growth
Focused on South India, Orkla India operates in a large market well-poised for growth Core categories to demonstrate high growth South India is well placed In INR billion Convenience foods Packaged spices 30% 121% South India’s per capita of India’s GDP 166 income (as % of India’s per capita income)
Slide 25: Robust supply chain
Robust supply chain Strategically located facilities with proximity to key sourcing regions and demand markets In-house factories Source markets Demand markets Hybrid approach - 8/21 In-house factories / Outsourced units1 Note: 1) As of September 30, 2025 24
Slide 26: Experienced and tenured management team
Experienced and tenured management team Sanjay Sharma Sunay Bhasin Ashvin Subramanyam Girish Kumar Nair Managing Director and CEO CEO, MTR Foods Business Unit CEO, International Business CEO, Eastern Business Unit IFFCO Dabur Colgate Voltas Foods Britannia Yum Dole Asia Mondelez Wipro Dabur Olam Bri
Slide 27: Supported by strong global parentage with diverse leadership
Supported by strong global parentage with diverse leadership ~$11bn ~$6.2bn 19,000+ Board of Directors Orkla ASA Market capitalisation1 Group revenue2 Number of employees 370+ yrs 10 Brands Norway-listed industrial, long- Legacy Portfolio companies Atle Vidar Nagel Sanjay Maria Syse- Per Haavard ter
Slide 28: Key strategies to drive growth
Key strategies to drive growth Drive household penetration Drive operational efficiencies in core markets to improve margins Expand our product Continue to enhance capital portfolio efficiency Expand presence in Strategic acquisitions international markets 27
Slide 29: Consolidated Financial Summary
Consolidated Financial Summary Units Q2’2026 Q2’ 2025 H1’ 2026 H1’ 2025 FY’25 Revenue from operations ₹ million 6,503 6,198 12,473 11,833 23,947 Revenue from operations YoY growth % 4.9 N/A 5.4 N/A 1.6 Consolidated volume growth (only tonnage) % 7.7 N/A 8.0 N/A 3.5 Revenue by product categories Spic
Slide 30: Thank you
Thank you Contact details for institutional investors: Siddharth Borkar Head – M&A and Investor relations siddharth.borkar@orklaindia.com Contact details for retail investors: investors@orklaindia.com Contact details for media: mediacell@orklaindia.com 29