#1INDIA madhur Pure & Hygienic Sugar THIN THE 5s SAID PROC SURAKSA SULPHUR FREE PROCESS madhur Pure & Hygienic Sugar 1Kg &is SHREE RENUKA SUGARS Confidential Investor Presentation June 2022 June 2022#2Disclaimer This presentation and the accompanying slides have been prepared by and are the sole responsibility of the Shree Renuka Sugars Limited ("Company"). This presentation contains selected information about the activities of the Company as at the date of this presentation, unless otherwise specifically mentioned. The information in this document has been collected with the purpose to provide interested parties with information about the Company including but not limited to its business and operations. This presentation does not purport to present a comprehensive overview of the Company or contain all the information necessary to evaluate an investment in the Company. 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This presentation is being communicated to selected persons who have professional experience in matters relating to investments for information purposes only and does not constitute a recommendation regarding any securities of the Company. Other persons should not rely or act upon this presentation or any of its contents. Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking statements" by reason of context, including those relating to the Company's general business plans, planned projects and strategy, future financial condition and growth prospects, future developments in industry and competitive and regulatory environment. All forward-looking statements are based on judgments derived from the information available to the Company at this time. Forward-looking statements can be identified by terminology such as such as "potential," "opportunity," "expected," "will," "planned," "estimated", "continue", "on-going" or similar terms. Forward looking statements are based on the current beliefs and expectations of the Company regarding future events, and are subject to various risks and uncertainties, many of which are difficult to predict. Actual results may differ materially from anticipated results due to factors beyond the Company's control. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, adverse litigation or government action, and changes to laws and regulations applicable to our industry. This presentation also contains certain financial and operational information relating to the Company that is based on management estimates. 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As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this presentation as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward looking statements are based. Given these uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements and management estimates. The contents of this presentation are strictly confidential. This presentation is being provided solely for the information of the attendees and may not be copied, reproduced or redistributed, in whole or in part, to any other person in any manner without the Company's written consent. The distribution of this presentation in certain jurisdictions may be restricted by law and recipients by law and recipients should inform themselves about and observe any such restrictions. This presentation is not a prospectus, a statement in lieu of a prospectus, an offering circular, an advertisement or an offer document under the Companies Act, 2013, and the rules made thereunder, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, or any other applicable law in India. This presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company does not make any representation or warranty, express or implied, as to and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information contained herein or any statement made in this presentation. The presentation has not been independently verified. The Company, and their respective affiliates, directors, employees, advisers and representatives do not accept any liability for any facts made in or omitted from this presentation. 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There is no obligation to update, modify or amend such information or statements or to otherwise notify any recipient if any information or statement set forth herein, changes or subsequently becomes inaccurate or outdated. The information contained in this document is provided as at the date of this document and is subject to change without notice. Any investor that intends to deal in any existing or prospective securities of the Company is required to make its own independent investigation and appraisal of the business and financial condition of the Company and the nature of the securities at the time of such dealing. Attendees are deemed to represent that they possess, either individually or through their advisors, sufficient investment expertise to understand the risks involved in dealing in any such securities. No one has been authorised to give any information or to make any representations other than those contained in this presentation, and if given or made, such information or representations must not be relied upon as having been authorised by the Company or their respective affiliates. The information in this presentation does not constitute financial advice (nor investment, tax, accounting or legal advice) and does not take into account an investor's individual investment objectives, including the merits and risks involved in an investment in the Company or its securities, or an investor's financial situation, tax position or particular needs. Past performance information in this presentation should not be relied upon as an indication of (and is not an indicator of) future performance. Certain data contained in this presentation was obtained from various external data sources, and none of the Company nor its affiliates or advisors or representatives has verified this data with independent sources. Accordingly, the Company and its affiliates, advisors and representatives make no representation as to the accuracy or completeness of such data, and such data involves risks and uncertainties and is subject to change based on various factors.#3Experienced Management Team Management Team Atul Chaturvedi Executive Chairman Vijendra Singh Executive Director & Dy. CEO Ravi Gupta Executive Director S.R. Nerlikar Executive Director - Cane Sunil Ranka Chief Financial Officer Satbir Sindhu President (Marketing & OD)#4Shree Renuka Sugars at a Glance India's leading sugar manufacturer with presence across the value-chain Who are we? What do we do? What have we achieved so far? One of the largest Sugar and Green Energy (ethanol and renewable power) producers in India 42K TCD Crushing capacity 5,500 TPD Refining capacity 720 KLPD Distillery capacity Leader in branded sugar segment in the country ✓ Only Sugar Refiner in India Milling Sugar Strong presence across value chain and sells packaged sugar under "Madhur" Refinery Own and operate two port-based refineries in Gujarat and West Bengal 276 MW Power generation capacity 11.79% Sugar recovered in FY 22 165mn Liters of ethanol produced in FY 22 Operations in sugar rich belt of South and West India ensuring stable cane supply Listed on both NSE and BSE Distillery One of the largest suppliers of ethanol to oil marketing companies in India Cogeneration 276 MW capacity across Karnataka, Maharashtra, Gujarat & West Bengal Madhur Leading brand in consumer pack sugar 84% Energy is from renewable sources 2,207 Employees 3#5Strong Wilmar Parentage. A Titan in the Agri Commodities Space F500 > Company Workforce 500 Mfg Plants Business Reach wilmar Oil Palm cultivation 100,000 Edible Oil Refining Oilseeds crushing Pack Edible Oil Processing ✓ Sugar Milling and Refining Oleochemicals Biodiesel Manufacturing Specialty Fats Impact across the agricultural value chain Global Presence Key Group Metrics Parent Company Mcap (WIL) around $19Bn (as on 06 Jun 22) Yihai Kerry Arwana Holdings Co. (YKA) - Chinese subsidiary of WIL - listed in 2020 - Mcap of around $37Bn (as on 06 Jun 22) Key Financial Metrics of WIL (2021): Revenue - $65.79 Bn EBITDA $4.17 Bn Total Assets -$58.72 Bn Source: Annual report of Wilmar 2021 UK -Netherlands -Germany Poland Italy USA Spain Morocco Mexico Guatemala rUkraine Djibouti Ethiopia China Russia Japan Pakistan -Bangladesh UAE India Laos -Myanmar Thailand Senegal◆ Liberia Ivory Coast Nigeria Uganda Kenya Sri Lanka Malaysia Singapore -Vietnam -Cambodia Papua New Guinea -Philippines Ghana- Tanzania LIndonesia Brazil Zambia Zimbabwe ◆Mauritius ◆ Fiji New Caledonia South Africa -Mozambique Equity Infusion of INR 2,100 Cr by Wilmar (shareholding 62.48%) and US$300Mn of debt via ECB by Wilmar in the company thereby demonstrating its commitment in SRS Management Support by inducting 3 Non-Executive Directors - Group Chairman, Group Sugar Head, Group CFO Australia New Zealand 4#6One of the Leading Sugar & Green Energy Producers with Strategic Network of Infrastructure Refineries (TPD) 3,000 Kandla 2,500 Haldia Sugar Units (TCD) Kandla refinery location enables competitive exports to the highly sugar deficit Middle East region • Kandla refinery derives its logistical advantage due to proximity to Mundra and Kandla ports 10,000 10,000 7,500 Munoli Athani Havalga 4,500 Gokak 1,500 Pathri 6,000 2,500 Panchganga Raibag Power Plants (MW) 34 76 38 Munoli Athani Havalga 14 Gokak 45 Kandla 15 30 Haldia Panchganga 24 Ajinkyatara Kandla Pathri Ajinkyatara Havalga Panchaganga Raibag Athani Ethanol Plants (KLPD) at Munoli, Athani and Havalga 720 KLPD expanding to 1,400 KLPD Total capacity by December 2022 Refinery Sugar Mills Power Plants Distillery Gokak Munoli Haldia Haldia refinery strategically located close to sugar deficit regions in East India and South-East Asia#7Our Journey with Focus on Green Energy Commissioned a 3,000 tpd port based refinery in Kandla, Gujarat Foundation of Shree Acquired KBK Chem Engineering Pvt. Ltd., engaged in distillery EPC projects 2011 Renuka Sugars with the acquisition of assets of Nizam Sugars Ltd. Successfully completed IPO 2007 1998 2005 2006 2000 Commissioned a co- generation plant and 60 KLPD distillery at Munoli, Karnataka Established a Greenfield sugar mill at Athani 2008 Commissioned a refinery of 1500 tpd at Haldia in West Bengal COM implemented - Wilmar took controlling stake 38.57%. Increased stake to 58.34% post culmination of open offer 2014 WSH acquires 27.72% stake as a strategic partner 2018 Clocked EBITDA >INR 550 cr after 7 years 2021 2020 Ethanol expansion 2020 from 570 KLPD to 720 KLPD Pre-pay of debt via ECB by fund raising from Wilmar. Wilmar further increased its stake to 62.48% via preferential allotment of shares 2022 Ethanol expansion from 720 KLPD to 1400 KLPD by Dec 2022 Corporate Achievements Scale Achievements#80 0 0 0 0 NO 0 0 0 0 0 0 0 0 Key Investment Highlights 6 6 &RS SHREE RENUKA SUGARS#9Large Addressable Opportunity with Strong Tailwinds Ethanol Blending Program Sugar Branding Opportunity 1,886 1,730 1,505 5.0% 5.0% 665 4.2% 2.1% 3,320 8.5% Madhur Sales (MT) 92,218 70,047 1,43,962 1,18,100 FY 18-19 FY 19-20 FY 20-21 FY 21-22 ESY 16-17 ESY 17-18 ESY 18-19 Ethanol Supplied (Mn Litres) ESY 19-20 Blending %age ESY 20-21 ■Madhur Sales (MT) ✓ Roadmap shared by govt. to establish total ethanol capacity of 10.2 bn liters ethanol by 2025, out of which 5.5bn I will be from sugar industry and 4.7 bn from grain industry ✓ Earlier target was to achieve 10% blending by 2025 and 20% by 2030 which has been preponed to 10% by 2022 and 20% by 2025 ✔ The target to achieve 20% ethanol blending by 2025, the country will require 10.2 bn I of ethanol ✔ Madhur is one the leading brand in consumer pack sugar in India CAGR of 27% (FY 19-22) ✔ Pandemic making consumer shift to Packed from Loose - A big opportunity. Renuka expanding Ethanol footprint by doubling capacity to 1,400 KLPD#10Resilient Business Model with Focus on Green Energy & Consumer Pack Focus on Green Energy • One of the largest Ethanol player in the country with annual production of 165 mn litres. With the recent announced change in the policy, SRS likely to be big beneficiary. Ethanol expansion from 720 KLPD to 1,400 KLPD by Dec 2022 Distillery - Feedstock availability assured due to high cane production area • Renewable Green power - 276MW generation capacity Flexible Operating Models to capture domestic and global opportunities Strategic locations allow for flexible operating models for sugar: • Refined Sugar - Competitive locational advantage for sourcing domestic/imported raw sugar Branded Sugar - Value added branded product for better margins madhur Pure & Hygienic Sugar Focus on Consumer Pack Leading brand in Consumer pack • Strong distribution network Pan-India. • Available in all channels including Modern Trade & E-Commerce madhur & Spr 2% 7% 20% 15% Diversified Product Mix sugar • Pandemic has changed consumer preference for packed goods ■Milling Sugar & CP ■ Refinery • Green energy now contributes approx 17% ■ Ethanol ■ Co-generation • Expect green energy to contribute more going forward 56% ■ Others Note: As of FY2022 9#11Robust Board of Directors Atul Chaturvedi Executive Chairman Non-Executive Directors Kuok Khoon Hong Non-Executive Director Charles Loo Cheau Leong Non-Executive Director Executive Directors Vijendra Singh Executive Director & Dy. CEO Ravi Gupta Executive Director Independent Directors Jean-Luc Bohbot Non-Executive Director Madhu Rao Independent Director Arun Chandra Verma Independent Director Bhupatrai Premji Independent Director Dorab Mistry Independent Director Bharat Kumar Mehta Independent Director Priyanka Mallick Independent Director#12Exhibited Improved Performance (FY22) Cane Crushed (in MT) Refined Sugar (in MT) 46,94,600 47,21,554 34,78,158 32% 62,48,647 Ethanol manufactured (in KL) 21% 12,85,227 9,30,737 1,64,837 11,06,830 11,20,754 1,35,824 1,21,129 1,10,127 FY 19 FY 20 FY 21 FY 22 FY 19 FY 20 FY 21 FY 22 Strong Revenue Growth (INR Mn) 14% EBITDA (INR mn) & EBITDA margin (%) FY 19 FY 20 FY 21 FY 22 Net Debt (INR Mn) 10% 10% 8% 65,016 56,856 5% 5,716 51,924 47,176 49,399 4,595 4,971 43,929 2,512 28,701 30,221 FY 19 FY 20 FY 21 FY 22 FY 19 FY 20 FY 21 FY 22 FY 19 FY 20 FY 21 FY 22 11#13Key Takeaways is 1 Leading integrated sugar company in India with significant investments and expertise in green power and consumer pack business SHREE RENUKA SUGARS ST 5 2 India entering a new age of renewable energy under the leadership of GOI, SRSL well poised to move quickly to gain first mover advantage and capitalize on this unprecedented opportunity 3 Uniquely positioned to transition itself from a leading sugar company with renewable energy as a by-product to the leading green energy company with sugar as by-product 4 Strong Wilmar Support in areas of finance and management indicated by board members, especially Group Chairman Mr Kuok Highly experienced management team with strong track record supported by experienced Board 12#140 0 0 0 0 0 NO 0 0 0 0 0 0 0 0 &RS SHREE RENUKA SUGARS Annexures Financial And Operating Metrics- FY22 6 6#1512M: Operational Performance Particulars Units 12 Months (2021-22) Cane Crushed for Ethanol MT Cane Crushed for Sugar MT 1,805,380 4,443,266 12 Months (2020-21) 961,016 YoY Change (%) 32% Sugar Produced from Cane MT 523,773 3,760,538 420,586 Ethanol C Molasses Ethanol - BH Ethanol - CJ ENA & Others Total Ethanol 25% H H H H ☑ KL 6,130 5,136 KL 11,835 6,040 KL 102,006 83,997 KL 44,866 40,651 KL 164,837 135,824 21% Refinery Raw Sugar Melted MT 954,065 1,318,374 (28%) %age yield de 97.55% 97.49% Sugar Refined Production MT 930,737 1,285,227 (28%) Cogen Key Highlights mn KWh 587 Highest ever Cane Crushed of 6.25 mn tn, up by 32%, Sugar production up by 25% " Distillery had record production of 16.48 cr litres, up by 21% and achieved capacity utilization above 100% 556 6% 14#1612M: Commercial Performance 12 Months (2021-22) 12 Months (2020-21) YoY Change (%) Particulars Unit Sales Price Realised Sales Price Realised Sales Price Quantity (INR/unit) Quantity (INR/unit) % Milling Sugar - Local INR/MT 212,231 32,593 171,620 32,089 24% 2% Sugar Madhur INR/MT 143,962 38,103 118,100 36,999 22% 3% Sugar - Export INR/MT 5,500 35,723 Sugar INR/MT 356,193 34,820 295,220 34,121 21% 2% Refinery INR/MT 995,793 35,966 1,110,601 28,258 (10%) 27% Ethanol C Molasses INR/KL 8,341 45,720 4,149 44,042 101% Ethanol - BH INR/KL 16,079 57,874 632 54,270 2444% Ethanol - CJ INR/KL 105,030 63,166 81,898 61,607 28% ENA & Others INR/KL 28,011 55,213 32,893 53,242 (15%) Ethanol Total INR/KL 157,462 60,287 119,572 58,657 32% 4% 7% 3% ole de ole ole o 4% 3% Cogen (Qty in Mn Kwh) INR/Unit 249 5.54 261 5.16 (5%) 7% Key Highlights Price growth in all business segments, except negative volume growth in refinery business Sugar sales up by 21%, driven by local sales volume and price up by 2%. Highest ever consumer pack (Madhur) sales of ~1,44,000 tn, up by 22% ☐ Highest ever Ethanol sales of 15.7 cr litres, up by 32% and price up by 3% 15#1712M: Consolidated P&L Particulars Units 12 Months Ending Mar'22 12 Months Ending Mar'21 YoY Change (%) Revenue from operations INR Mn 63,864 55,554 15.0% Income from incentive to sugar mills INR Mn 462 931 Other Income INR Mn 690 371 Total Income INR Mn 65,016 56,856 (50.4%) (86.0%) 14.4% Gross Profit Gross Profit Margin, % Total Expenditure EBITDA EBITDA Margin, % 11,991 INR Mn 12,356 (3%) 18.6% 21.9% (323bps) INR Mn 7,710 7,011 9.97% INR Mn 4,971 5,716 7.6% 10.1% (13.0%) (241bps) Interest INR Mn 3,926 3,842 2.2% Depreciation INR Mn 2,079 2,085 (0.3%) Foreign Exchange (Gain)/Loss INR Mn 352 Exceptional item (Gain) / Loss INR Mn (694) (34) Profit/(Loss) Before Tax INR Mn -1386 517 Income Tax / Deferred Tax Profit/ (Loss) After Tax INR Mn INR Mn (19) (1367) 1,683 (1,165) Key Highlights ■ The company faced strong headwinds during the first half of FY22 on account of Covid related disruptions in supply chain which had serious impact on the results Despite strong headwinds in H1, company bounced back strongly in H2 when operations normalized 16#1812M: Segment Wise P&L Consolidated Particulars (In INR Mn) Segment Revenue (a) Sugar - milling (b) Sugar - refinery (c) Distillery (d) Co-generation (e) Trading (f) Engineering (g) Other Total Segment Revenue Less: Inter Segment Revenue Gross Sales/Income from Operations Segment Results (profit/(loss) before tax and interest) (a) Sugar - milling (b) Sugar - refinery (c) Distillery (d) Co-generation (e) Trading (f) Engineering (g) Other 12 Months Ending Mar'22 12 Months Ending Mar'21 27,618 19,513 38,745 35,040 9,494 7,015 4,955 4,540 4,238 5,656 1,913 503 204 152 87,167 72,419 (23,303) 63864 (16,865) 55,554 683 18 1,908 127 62 2,476 963 711 (6) 13 98 145 146 79 3125 4,298 Profit/ (Loss) before tax and interest Less: i) Interest ii) Other Unallocable Expenses iii) Foreign exchange (Gain)/loss iv) Exceptional item (Gain)/ Loss Profit/(Loss) before tax and discontinued operations Add: i) Other Unallocable Income ii) Income (Loss) from discontinued operations Profit/(Loss) before tax 3,926 3,842 923 1,037 352 (694) (34) (2,076) 146 690 (1,386) 371 518 17#19Consolidated Balance Sheet As On 31st March 2022 Particulars (In INR Mn) As On Mar'22 As On Mar'21 Particulars (In INR Mn) As On Mar'22 As On Mar 21 Equity Equity Share capital 2,128 2,128 Assets Non-current assets Other equity (8,206) (8,754) Equity attributable to Property, plant and equipment shareholders (6,078) (6,626) Capital work-in-progress Other intangible assets Non-controlling interest 3 (15) Investments 40,031 2,171 74 8 13 601 432 37,751 Loans Non-current liabilities Other non-current financial assets Borrowings 27,561 25,667 268 64 Other non-current financial Other non current assets 691 605 178 143 liabilities Income tax receivable (net) 93 56 Net employee benefit liabilities 253 226 Deferred tax assets (net) Government grants 310 204 Total non-current assets Income tax payable 43,694 39,164 6 6 Deferred tax liabilities (net) 1,288 127 Total non-current liabilities 29,596 26,373 Current liabilities Current assets Inventories 20,728 24,421 Borrowings 24,585 18,649 Trade receivables 2,897 1,541 Lease Liabilities 12 11 Trade payables Cash and cash equivalents 222 386 20396 26,945 Other current financial liabilities Other Bank balances 1542 3,890 537 479 Government grants 107 54 Other current financial assets 356 941 Other current liabilities 777 681 Other current assets 2,600 2,134 Net employee benefit liabilities 94 85 Total current assets 27,340 29,902 Total current liabilities 47,513 49,334 Total assets 71,034 69,066 Total equity and liabilities 71,034 69,066 18#200 0 0 0 0 0 NO 0 0 0 0 0 0 0 0 &RS SHREE RENUKA SUGARS Annexures Financial And Operating Metrics- Q4 FY22 6 6#21Exhibited Improved Performance (3 Months) Cane Crushed (in MT) Refined Sugar (in MT) Ethanol manufactured (in KL) 25% 21,85,324 Q4 FY21 53% Revenue Growth (INR Mn) 65% 33,49,618 2,91,463 Q4 FY22 Q4 FY21 8% 83,855 3,15,562 67,056 Q4 FY22 Q4 FY21 EBITDA (INR mn) & EBITDA margin (%) Net Debt (INR Mn) 19.2% 21,907 2,550 13,277 20% 14.0% Q4 FY22 3,072 51,924 43,929 Q4 FY21 Q4 FY22 Q4 FY21 Q4 FY22 FY 21 FY 22 20#223M: Operational Performance For the 3M Particulars Milling Division Units 3M Jan'22-Mar'22 3M Jan'21-Mar'21 YoY Change (%) Cane Crushed for Distillery MT 900,106 460,248 96% Cane Crushed for Sugar MT 2,449,512 1,725,076 42% Sugar Produced from Cane MT 302,384 207,262 46% Ethanol - C Molasses Ethanol - BH Ethanol - CJ KL ENA & Others Total Ethanol KL AAAAA KL 1,420 KL 4,589 6,040 54,816 41,745 KL 24,449 17,851 83,855 67,056 25% Refinery Raw Sugar Melted MT 322,499 298,858 8% %age yield % Sugar Refined Production MT 97.85 315,562 97.53 291,463 8% Cogen Key Highlights ☐ Cane Crushed up by 53% ■ mn KWh 282 259 9% Ethanol production up by 25%; Refining production up by 8% 21#233M: Commercial Performance 3 Month Jan-Mar❜22 3 Month Jan-Mar'21 For the 3M YoY Change (%) Particulars Unit Sales Price Realised Sales Price Realised Sales Price Quantity (INR/unit) Quantity (INR/unit) % Milling Sugar Sugar - Local INR/MT 105,664 33,023 51,936 30,844 103% 7% Sugar - CP INR/MT 35,189 38,864 30,440 36,055 16% 8% Sugar - Export INR/MT 19 35,640 Sugar INR/MT 140,853 34,482 82,395 32,771 71% 5% Refinery INR/MT 334,810 37,682 142,238 32,597 135% 16% Ethanol -C Molasses INR/KL 261 46,660 365 45,691 (28%) 2% Ethanol - BH INR/KL 2,885 59,080 Ethanol - CJ INR/KL 43,797 63,450 39,351 62,649 11% 1% ENA & Others INR/KL 5,015 56,304 8,000 53,523 (37%) 5% Distillery Total INR/KL 51,958 62,433 47,716 60,989 9% 2% Cogen (Qty in Mn kwh) INR/Unit 115 5.82 121 5.50 (4%) 20 6% Key Highlights Higher net realization over last year Sugar sales up by 71%; Refinery sales up by 135%; Ethanol sales up by 9% and price up by 2% 22#24Q4: Consolidated P&L Particulars Units 3M Jan'22-Mar'22 3M Jan'21-Mar'21 For the 3M YoY Change (%) Revenue from operations INR Mn 21,729 12,992 67.2% Income from incentive to sugar mills INR Mn 212 Other Income INR Mn 178 73 143.8% Total Income INR Mn 21,907 13,277 65.0% Gross Profit INR Mn 4,955 4,644 6.7% Gross Profit Margin, % % 22.8% 35.2% (1,237 bps) Total Expenditure INR Mn 2,061 2,167 (4.9%) EBITDA INR Mn 3,072 2,550 20.5% EBITDA Margin, % % 14.0% 19.2% (520 bps) Interest INR Mn 1,000 998 Depreciation INR Mn 516 525 Foreign Exchange (Gain)/Loss INR Mn 150 (25) Exceptional item (Gain) / Loss INR Mn 1,402 Profit Before Tax INR Mn 1,406 (350) Income Tax / Deferred Tax INR Mn (182) 99 Profit/(Loss) After Tax INR Mn 1,588 (449) 0.2% (1.7%) 23#25Q4: Segment Wise P&L Consolidated Particulars (In INR Mn) 3M Jan'22-Mar'22 3M Jan'21-Mar'21 Segment Revenue (a) Sugar - milling (b) Sugar - refinery (c) Distillery (d) Co-generation (e) Trading 12,541 8,193 12,679 6,272 3,244 2,911 2,394 1,943 50 1,974 (f) Engineering 971 133 (g) Other 66 64 Total Segment Revenue Less: Inter Segment Revenue 31,945 (10,216) 21,490 (8,498) Gross Sales/Income from Operations 21,729 12,992 Segment Results (profit / (loss) before tax and interest) (a) Sugar - milling 1,483 631 (b) Sugar - refinery (55) 646 (c) Distillery (d) Co-generation 877 545 399 469 (e) Trading 4 (67) (f) Engineering 94 30 (g) Other 47 44 Profit/ (Loss) before tax and interest 2,649 2,298 Less: i) Interest 1,000 998 ii) Other Unallocable Expenses 271 346 iii) Foreign exchange (Gain) / loss 150 (25) Profit/(Loss) before tax 1,228 979 Add: i) Other Unallocable Income 178 ii) Exceptional items Gain / (Loss) 73 (1402) Profit/(Loss) before tax 1,406 (350) 24