Huhtamaki India Limited filed the transcript of its Q1 CY26 Earnings Conference Call, held on May 13, 2026, with BSE Limited and the National Stock Exchange of India Ltd., pursuant to Regulation 30(6) read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The call was hosted by ICICI Securities Limited and moderated by Mr. Mohit Mishra. The management was represented by Mr. Kamal Taneja, Managing Director, and Mr. Amit Gupta, Chief Financial Officer. The transcript was submitted on May 18, 2026, and is also available on the company's website.

Financial Performance Overview

Management highlighted stable top-line performance alongside significant margin improvement for Q1 CY26. Net sales were up 10 basis points year-on-year, reflecting the company's selective participation strategy focused on higher-value, innovation-led business. The following key metrics were discussed during the call:

CFO Amit Gupta noted that EBIT was impacted by a one-off prior-period depreciation charge of Rs. 88 million relating to FY 2024 and FY 2025, arising from an error where depreciation was calculated on the Written Down Value (WDV) basis instead of the company's stated Straight Line Method (SLM). Excluding this charge, EBIT margins improved by 27.80% year-on-year, and the reported EBIT margin of 8.0% was in line with Q4 of the prior year and approximately 170 basis points higher than Q1 of the prior year. Profit for the period stood at Rs. 256.0 million, down 2.10% year-on-year due to this adjustment; excluding the prior-year charge, profit before such postings was up approximately 23.10%.

Raw Material Costs and Pass-Through Mechanism

Management addressed investor queries on raw material cost pressures, noting a low-to-medium double-digit impact on input costs following geopolitical developments towards end of March. Availability of raw materials was confirmed to be unaffected, with the company leveraging its global procurement network to source materials from multiple regions. Mr. Taneja stated that the company was among the first in its parent group's global network to implement price pass-throughs to customers, with most future orders locked in at revised pricing by end of March. Management confirmed that the cost increases were being passed on in a transparent manner consistent with contractual arrangements, and that margin impact was expected to be minimal. The full impact on the business would be clearer after the close of the second quarter.

Strategy and Market Positioning

Mr. Taneja reiterated the company's focus on profitable growth through selective participation, premiumisation, and innovation. Management acknowledged that while the broader Indian flexible packaging market may be growing at 10%–12%, the company's addressable segment — primarily large multinational FMCG customers — typically grows at a lower rate of approximately 2%–5% annually, with regional and smaller customers growing faster from a lower base. The company stated that capacity is not a constraint at present, with room available to support organic growth. On inorganic opportunities, management indicated that acquisitions are not currently under active consideration, with the near-term focus remaining on strengthening operations and capturing organic demand aligned with the company's value proposition.

During the call, it was also disclosed that a property in Daman has been put up for sale following the curtailment of operations at that location. Regarding an ECB loan from the parent company, management clarified that the repayment timeline extending to June 2027 is in compliance with RBI guidelines, and that the service cost is benchmarked to returns earned on fixed deposits maintained by the company.

Sustainability Highlights

Mr. Taneja outlined progress across the company's four sustainability pillars during the quarter:

Reporting Schedule

Management confirmed the upcoming financial results calendar as follows:

The transcript was signed by Abhijaat Sinha, Company Secretary & Legal Counsel of Huhtamaki India Limited, and the filing is accessible via the company's investor relations contact at investor.communication@huhtamaki.com .

Huhtamaki India Limited held its 76th Annual General Meeting (AGM) on Friday, May 8, 2026, through Video Conferencing (VC) and Other Audio-Visual Means (OAVM), with the meeting commencing at 2:30 p.m. and concluding at 4:31 p.m. All six resolutions placed before the members were passed with the requisite majority, as confirmed by the scrutinizer's report submitted by S. N. Ananthasubramanian & Co., Company Secretaries. The meeting was chaired by Mr. Murali Sivaraman, and was attended by the full Board of Directors, Chief Financial Officer, and representatives of the statutory and secretarial auditors.

Meeting Overview

The AGM was convened to discuss various statutory and business matters, including the adoption of financial statements for the financial year ended December 31, 2025. A total of 36,550 shareholders were registered as of the cut-off date of May 1, 2026. Of these, 55 members attended through Video Conferencing — 1 from the Promoter and Promoter Group and 54 from the public. The remote e-voting facility was provided by the National Securities Depository Limited (NSDL), with the voting window open from May 5, 2026, to May 7, 2026. A total of 34,253 members were registered via email. Additionally, 21 members had registered their interest for speaking and asking questions, sharing their views on the company's performance and business during the meeting.

Mr. Kamal Taneja, Managing Director, and Mr. Amit Gupta, Chief Financial Officer, made a presentation to the members on the company's performance during the Financial Year 2025. The Chairman, along with the Managing Director and CFO, responded to questions raised by members and noted their suggestions and comments.

Resolution Results

The resolutions presented at the AGM covered financial approvals, director appointments, and auditor remuneration. Shareholders approved a dividend of Re.2/- per equity share (100%) on equity shares. The voting pattern indicated strong shareholder approval across the board, with assent votes consistently exceeding 99.9% for all items. The detailed voting figures for each resolution are summarized below.

Voting Summary

Key Appointments and Approvals

Shareholders voted to re-appoint Mr. Axel Glade, who retires by rotation, as a Non-Executive Director. The company also received approval through special resolutions for the appointment of Ms. Ramya Mohan and Mr. Vinit Mahadevan as Directors and Whole-time Directors of the company. The dividend of Re.2/- per equity share (100%) on equity shares was declared through an ordinary resolution. Additionally, the remuneration payable to the Cost Auditors for the financial year ending December 31, 2026, was ratified. The results have been disseminated to the National Stock Exchange of India Limited (NSE) and BSE Limited, and are available on the company's website.