Slide 1: Exchange filing cover letter for investor presentation
November 13, 2025 To, Bombay Stock Exchange Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Tower, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Fort, Mumbai-400001 Bandra (E), Mumbai-400051 Scrip Code: 513509 Symbol: KALYANIFRG Dear Sir/Madam, Sub: Investor Presentation
Slide 2: Investor Presentation Q2 FY26
Investor Presentation FROM BOLD Q2 FY26 12th November 2025 DECISIONS TO TANGIBLE GAINS
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation contains forward-looking statements regarding Kalyani Forge Ltd.’s outlook, strategies, business plans, expectations, and potential growth in the Indian and global markets. These statements are based on assumptions and information currently available to manag
Slide 4: Notable Highlights of the Quarter
Notable Highlights of the Quarter • Robust Growth Momentum – Despite US tarrif related exports reduction, domestic sales maintained momentum from post GST cut. • Profitability Strengthened – PAT margin improved by 53% from previous quarter through cost control, clean audit actions, and operational e
Slide 5: Our Product Offerings
Our Product Offerings Critical, high performance components, leveraging decades of expertise Engine Driveline Connecting rod Crankshaft Outer Race Tulip Inner Race Tripod Double Yoke Yoke Shaft Gear Blanks Axle Stub Axle Steering Knuckle Wheel Hub 11/12/2025 Confidential, Investor Presentation, Kaly
Slide 6: KFL Growth Formula
KFL Growth Formula 1. Strong 2. Business 3. Capex Growth Execution Development 11/12/2025 Confidential, Investor Presentation, Kalyani Forge Ltd. 5
Slide 7: 1. Strong Execution - Financial Performance
1. Strong Execution - Financial Performance Total Income PAT Rs. Cr. 70.00 64.52 4.50 62.85 59.37 59.33 3.92 60.00 56.23 4.00 3.50 50.00 3.00 40.00 2.50 2.22 2.15 30.00 2.00 1.82 1.41 20.00 1.50 1.00 10.00 0.50 - Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 - Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 EBITDA Rs. Cr. EBITDA % 9
Slide 8: 1. Strong Execution – Sales by Product Group
1. Strong Execution – Sales by Product Group Engine Driveline Axle 40.0 14.0 6.0 12.0 5.0 30.0 10.0 4.0 8.0 20.0 3.0 6.0 2.0 10.0 4.0 2.0 1.0 - - - Q2 FY25 Q3 FY25 Q4FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q3 FY25 Q4FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q3 FY25 Q4FY25 Q1 FY26 Q2 FY26 Q1 FY26 Q2 FY26 • Axle business is
Slide 9: Strong Execution – Sales by Geography
Strong Execution – Sales by Geography Exports Sales • Tariffs and stock reduction have 14 13 Rs. Cr. 12 11 reduced US truck related business 10 10 8 8 7 • Exports sales are at 20% of total 6 sales 4 2 • Successfully ramped up high - Q2 FY25 Q3 FY25 Q4FY25 Q1 FY26 Q2 FY26 volume, non-auto export busi
Slide 10: 2. Business Development
2. Business Development • Acquired a new MNC customer in axle New Order Wins Rs. Cr. business in Q2 140 • SOP commenced for Europe transmission 120 115.99 business • Ramp up of driveline new business 100 95.17 programs 80 60 40 20 7.80 4.11 0 - FY21 FY22 FY23 FY24 FY25 11/13/2025 Confidential, Inves
Slide 11: 3. Capex
3. Capex Capex Rs. Cr. 30.0 • 7 cr of projects commissioned and capitalized from CWIP. 26.0 25.0 24.4 25.0 • 58% of Capex Program in process or completed. 20.0 15.0 10.0 7.7 4.7 5.0 1.4 FY26 Capex Program Status 0.0 FY21 FY22 FY23 FY24 FY25 FY26 Budget Infrastructure Fixed Assets 90.0 80.0 New Busin
Slide 12: About Kalyani Forge
About Kalyani Forge 11/12/2025 Confidential, Investor Presentation, Kalyani Forge Ltd. 11
Slide 13: Company Stats
Company Stats • Established in 1978, around 50 years in the industry • Publicly Listed on National Stock Exchange and Bombay Stock Exchange India • NSE: KALYANIFRG • BOM: 513509 • Workforce Headcount: 1,000+ • Location: Pune, Maharashtra, India • Nearest Sea Port: Mumbai (190km) • No. of Plants 5: •
Slide 14: Well diversified, leveraging common strengths
Well diversified, leveraging common strengths High volume and high value forgings in every truck Trucks Large and mature market High volume and high value forgings in every car Cars Large and mature market Steady and growing market for large engines Industrial Hedge against cyclicality of automotive
Slide 15: Company Milestones
Company Milestones 1980 and 90s 2000s: 2010s: 2020s: • Founded in 1979 by Dr. • 1st Fracture Split Conrod • Established lines for • Scaling up Machining Neelkanth Kalyani (Founder developed in India marquee global OEMs Business of Kalyani Group) • Forayed into Passenger Car • 1st Euro-6/BS VI compli
Slide 16: Leadership - Board of Directors
Leadership - Board of Directors • Deep Experience at scale • Automotive and manufacturing domain knowledge • Global exposure • Strong strategic and Rohini Kalyani Viraj Kalyani Gaurishankar N. Kalyani leadership skills Executive Chairperson Managing Director Director Ajay Tandon Jeevan Mahaldar Abhi
Slide 17: Thank You
Thank You FROM BOLD Investor Presentation www.kalyaniforge.com DECISIONS TO TANGIBLE 11/12/2025 GAINS Confidential, Investor Presentation, Kalyani Forge Ltd. 16