Sat Kartar Shopping Limited, now operating as Sat Kartar Life Limited (formerly known as Sat Kartar Shopping Limited), has submitted the transcript of its H2 and FY26 Earnings Conference Call to the National Stock Exchange of India Limited, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The filing, dated May 09, 2026, covers the company's performance for the half year and financial year ended March 31, 2026, and includes detailed management commentary on financial results, strategic initiatives, and future growth plans.

Earnings Conference Call Overview

The earnings conference call was held on Thursday, May 07, 2026 at 04:00 P.M. IST, moderated by Mr. Pawan Bhatia of Nuvama Wealth PCG and Mr. Ayush Divecha of Merlin Capital Advisors. The session featured Mr. Manprit Singh Chadha, Founder and Chief Operating Officer, who presented the company's financial performance and strategic direction.

Financial Performance Highlights

Management reported strong financial performance for FY26, with revenue crossing the ₹200 crore mark — a key milestone set at the time of the company's IPO. The following key metrics were highlighted during the call:

Mr. Chadha noted that the transition phase in H1 — which included factory setup, the Plantomed acquisition, and hospital development — had impacted working capital and cash generation. However, he stated that most parameters have stabilised and improved on an H1-to-H2 basis, with the exception of inventory days, which increased marginally by 12 to 15 days.

Strategic Initiatives and Business Expansion

The company outlined several key strategic developments that are expected to drive growth going forward:

Hospital Business: Sat Kartar Life has operationalised its first 30-bed Ayurveda hospital in Delhi. The hospital, still in early stages with bed utilisation below 10%, is targeting a daily revenue breakeven of ₹1 lakh and was generating approximately ₹50,000 per day at the time of the call. The company is targeting 300 beds by the end of FY27 and 1,000 beds by FY28, with a capital expenditure benchmark of approximately ₹4 lakh per bed (capex component), totalling approximately ₹40 crore for 1,000 beds.

Jeena Sikho Collaboration: Sat Kartar Life has entered into a non-exclusive partnership with Jeena Sikho, which operates approximately 2,800 Ayurveda hospital beds primarily in North India. Under the arrangement, Sat Kartar will route North India patient inquiries to Jeena Sikho's clinical outlets in exchange for a revenue share of approximately 15%. In South India — specifically Tamil Nadu, Karnataka, and Andhra Pradesh — Sat Kartar will open its own branded hospitals, potentially co-powered with Jeena Sikho's clinical expertise, for which Jeena Sikho will charge a management fee. Customer data in South India will remain with Sat Kartar Life.

Manufacturing and Subsidiaries: The company's in-house capsule and powder manufacturing facility is operational, with a total capex of approximately ₹1 crore to ₹1.25 crore including the gestation period. The 100% acquisition of Plantomed (US operations) is complete, with product range set and marketplace accounts being established. The company currently has three subsidiaries — Ajooni Life Sciences (nutraceuticals), Plantomed (low-ticket diabetes products), and Sat Kartar Ocean (advertising, not yet operational) — with a fourth US subsidiary pending RBI approval for overseas direct investment.

AI Initiatives: The company has begun deploying AI tools and reported a 4 to 5% improvement in ROI from current trials, with further improvement expected as the initiative scales.

Revenue Guidance and Margin Outlook

Management provided the following forward-looking revenue and margin guidance based on current business trajectory:

Mr. Chadha clarified that the ₹300 crore and ₹500 crore revenue targets pertain exclusively to the product business, with hospital revenues representing an additional upside. He noted that the company currently has approximately ₹45 crore in the bank to fund the first phase of hospital expansion, with subsequent phases to be funded through internal cash generation and, if required, debt — with no plans for further equity dilution at this stage.

Regulatory Compliance and Filing Details

The transcript is available on the company's official website at www.satkartar.in and can be directly accessed via the link provided in the regulatory filing. The disclosure was submitted by Sonal Seth, Company Secretary and Compliance Officer (Membership No. F13949), from the company's registered office at 603, 6th Floor, Mercantile House, KG Marg, New Delhi – 110001.

Source: None/Company/INE0NB801022/da5bc9ff65784925.pdf

Sat Kartar Life Limited (formerly known as Sat Kartar Shopping Limited) has received in-principle approval from the National Stock Exchange of India Limited (NSE) for the issuance of equity shares pursuant to the conversion of warrants through a preferential issue. The approval was communicated vide NSE letter bearing Ref. No. NSE/LIST/54702 dated May 08, 2026, under Regulation 28(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had submitted its application to NSE on April 21, 2026, seeking this approval.

Details of the Approved Share Issuance

The in-principle approval covers two tranches of equity shares to be allotted upon conversion of warrants issued through a preferential issue. The key details of the approved issuance are as follows:

Conditions Attached to the Approval

The NSE has granted the in-principle approval subject to the company fulfilling a set of regulatory and procedural conditions. These conditions must be met before the final listing of the shares is permitted.

• Filing the listing application at the earliest from the date of allotment
• Receipt of statutory and other approvals, and compliance with guidelines and regulations issued by statutory authorities including SEBI, RBI, and MCA
• Compliance with all applicable guidelines, regulations, and directions of the Exchange or any statutory authorities as on the date of the listing application
• Compliance with all conditions as per the SEBI (LODR) Regulations, 2015, Companies Act, 1956/Companies Act, 2013, and other applicable laws
• Submission of documents as may be required by NSE and payment of applicable fees

Internal Controls and Allottee Compliance Advisory

The NSE has also advised the company to strengthen internal controls to monitor trades executed by the proposed allottees in the company's scrip prior to allotment. Specifically, the exchange has directed the company to obtain an undertaking from the allottee(s) confirming that they shall not engage in intra-day trading or any sale in the company's scrip until the allotment date, as required under SEBI (ICDR) Regulations. The responsibility and onus to verify and ensure such compliance, including adherence to Regulation 167(6) of SEBI ICDR Regulations, 2018, rests solely with the issuer company. The NSE has further noted that any non-compliances observed post the undertaking and verification by the issuer company may impact the listing of such shares.

Exchange's Right of Withdrawal

The NSE has explicitly reserved its right to withdraw the in-principle approval at a later stage if the information submitted to the exchange is found to be incomplete, incorrect, misleading, or false, or if it is in contravention of any Rules, Bye-laws, and Regulations of the Exchange, SEBI (LODR) Regulations, 2015, or guidelines and regulations issued by statutory authorities. The company has been advised that this approval does not constitute approval under any other Act, Regulation, rule, or bye-laws, and that separate approvals from concerned departments of the exchange must be sought wherever applicable. The disclosure was signed by Sonal Seth, Company Secretary and Compliance Officer, on May 09, 2026, from New Delhi.