#1Jain Irrigation Systems Ltd. Small Ideas. Big Revolutions.Ⓡ Investor Presentation Q4FY23 & FY23 26-May-2023 "Leave this world better than you found it" Bhavarlal H. Jain (1937-2016) Founder#2Contents 1 Company Overview 2 Business Verticals 3 Significant Positive developments 4 Financial Performance 5 Revival and Way forward#31 Company overview#4Company Snapshot 1963 Established 4,000+ Dealers & distributors JAINⓇ 19 Manufacturing Plants globally 126 Countries reached through our Products and Services 9000+ Associates Globally 10 Mn+ Farmers' lives have been touches globally 57.4Bn Consolidated Revenues as on 31st March, 2023 7.3Bn Consolidated EBITDA as on 31st March, 2023 Micro-irrigation company in #1 India #1 #3 In onion and vegetable dehydration globally In tissue culture production of banana and pomegranate globally 4#5Touching lives in more than one way JAINⓇ DRIP IRRIGATION SPRINKLER IRRIGATION PRECISION FARMING TISSUE CULTURE RESOURCE TO ROOT PVC PIPES & FITTINGS PE PIPE & FITTINGS PLUMBING SYSTEMS DRINKING WATER SOLUTION PLASTIC SHEETS FRUIT SPICES PROCESSING PROCESSING DEHYDRATED PRODUCTS IQF RENEWABLE PRODUCTS ENERGY 50#62 Business Verticals#7Well diversified business, technologically advanced product range and state of the JAIN art manufacturing facilities keeps us at the heart of customer needs Hi-Tech Agri Drip & Sprinkler Systems Precision Farming Advisory Wide distribution presence dealers/distributors over 6,500 Manufacturing base in India R&D base in India Fruit Agro Processing pulps, concentrates, vegetable dehydrations, spice processing, etc. Globally No 1 in Mango processing and No. 3 in Onion dehydrations Catering to top global food companies ▸ Manufacturing in India, UK, USA and Turkey Credit Adequate and timely Repayment and security Increased productivity Hi-tech Agri Inputs Weather Product development Soil Farmer Water Manpower Minimum Guaranteed Quality goods price Markets Knowledge Feedback R&D Plastic PVC Pipes, fittings, Polyethylene Pipes. Turnkey Projects, PVC Sheets Catering to Agricultural, Industrial Infrastructural customer base Manufacturing primarily in India Forayed into urban markets by introducing plumbing systems Plastic Sheet Business manufacturing to Ireland, closer to customer base Others Solar Thermal Products, Solar Photovoltaic Grid & Off-Grid Products Solar Power generation investments to reduce cost of power ►Agri R&D activities 7#8Business Verticals Standalone-*36.14 Bn Hi-tech Agri Input Products Consolidation-*57.47 Bn Food- 6.60Bn Overseas Operation - * 14.73 Bn Plastic Product Others Agro Processing Plastic products Agro Processing Micro Irrigation Systems PVC Piping Products Solar Thermal Products Fruits processing Plastic Sheets Fruits processing Solar Agri Pump PE Piping Products Solar Photovoltaic System Integrated Irrigation Projects Onion and Vegetables dehydration Products Piping Projects Solar Power Pack Spice Processing Tissue Culture Plants Plastic Sheets Agri R&D Activities Bio Gas India Operation - 42.74 Bn Spice Processing JAIN All numbers are net of intercompany transaction 8#9Production Facilities - India SJAIN JAINⓇ Jain Plastic Park Jalgaon (Maharashtra) Micro Irrigation, Plastic Piping & Sheet Jain Agri Park Jalgaon (Maharashtra) Agri R&D - Tissue Culture Lab Jain Food Park Jalgaon (Maharashtra) Fruit Processing Jain Food Park Jalgaon (Maharashtra) Onion & Vegetable Dehydration Jain Energy Park Jalgaon (Maharashtra) Solar & BioGas Jain Plastic Park Kurnool, AP Micro Irrigation and Plastic Piping (proposed) Jain Food Park Vadodara (Gujarat) Onion & Vegetable Dehydration Jain Plastic Park Hyderabad (Telangana) Plastic Piping Jain Food Park-I Chittoor (AP) Fruit Processing Jain Food Park-II Chittoor (AP) Fruit Processing Jain Agri Park Coimbatore (TN) R&D Farm / Food Processing/TC Hardening Jain Plastic Park Alwar (Rajasthan) Plastic Piping Plant, Solar and PFS 9#10Production Facilities - Overseas Farm Fresh SLEAFORD Jain Farm Fresh Turkey Food Processing SQF Ltd. UK Food Processing Jain Farm Fresh Food Inc. USA Food Processing Ex-Cel Plastics Ltd. Ireland Plastic Sheet Innovafood N.V. Belgium Food Processing JAINⓇ 10#113 Significant Positive Developments#12Significant Positive Developments The Company successfully closed merger deal with Rivulis on 29th March 2023. The Company successfully implemented restructuring plan within a period of one year as on 31st March 2023 The Company's Credit Rating was upgraded to Standard Asset (BBB-) by CRISIL and ICRA on 31st March, 2023 The Company's Bank account has become Standard Asset and transferred to Commercial Branches. On Consolidated basis, overall interest outgo has reduced by 2,000 mio in FY23. In FY24, the Company is expecting interest outgo of 3,200 mio excluding impact of non cash interest on NCD as per IndAS. 12#13Structurally positive impact of Merger Deal Significant increase in Net Worth by 15,251 mio (41.7%): Increase in Net worth from 36,560 mio as on March 31, 2022 to 51,811 mio as on March 31, 2023 DEBT Reduction by 26,830 (41.9%): Total Consolidated Debt reduced from 64,049 mio as on March 31, 2022 to 37,219 mio as on March 31, 2023 Reduction of Contingent Liability by US$300 Mn Debt to EBITDA Ratio improved by 1.77x in Consolidated: Total Debt EBITDA ratio improved from 6.85x as on March 31, 2022 to 5.08x as on March 31, 2023 The Company will continue to hold strategic stake of 18.7% in MergeCo valued at US$137.5 Mn. One time Gain : Gain on sale of discontinued operation of 12,346.6 mio during the year 13#144 Financial Performance#15JAIN Particulars Q4FY23 Financial Performance - Standalone FY23 Q4FY22 YoY change FY22 Revenue 11,660 8,395 38.9% 36,135 28,192 All figures in Million YoY change 28.2% Hi-Tech 6,252 4,937 ↑ 26.6% 21,862 Plastic 5,304 3,398 56.1% 13,952 17,661 10,263 ↑ 23.8% 35.9% Other 104 60 73.3% 321 268 19.8% EBITDA Hi-Tech Plastic Other 1,725 1,022 68.8% 5,022 3,806 31.9% 1,120 802 39.7% 3,749 3,270 14.6% 535 199 168.8% 1,150 584 96.9% 70 21 233.3% 123 -48 356.3% Margin 14.8% 12.2% Hi-Tech 17.9% 16.2% Plastic 10.1% 5.9% Other 67.3% 35.0% 13.9% 13.5% 17.1% 18.5% 8.2% 38.3% 5.7% -17.9% PAT Cash PAT 346 729 3,031* 3,435* 393 1,931* 1,899 3,494* * PAT/Cash PAT include exceptional items on account of net gain due to restructuring, FV on NCD and Equity issuance 3,169 in Q4FY22 and 2,955 in FY22 15#16Financial Performance - Standalone JAIN ☐ The company saw significant growth in top line revenue due to strong demand from retail market, particularly from West and South for Pipe segment and continued demand from Jal Jeevan Mission (JJM) in Q4FY23. High Tech Division grown by 26.6% in Q4FY23 and 23.8% in FY23. The growth is driven by completion of existing projects, demand from retail market and tissue culture business. Plastic Division grown by 56.1% in Q4FY23 and 35.9% in FY23. The significant growth was driven by supply under Jal Jeevan Mission (JJM) and strong demand from retail for PVC pipes mainly from Maharashtra and Southern states EBITDA increased by 68.8% in Q4FY23 on yoy basis due to better realization, operational efficiency and better capacity utilization The Company has repaid long term debt 1,839 mio during the year. However, with reversal of interest on NCD 694 mio on account of FV accounting as per IndAS, the net reduction is 920 mio. 16#17Financial Performance - Consolidated JAIN Particulars Q4FY23 Q4FY22 YoY change FY23 FY22 Revenue^ 17,454 13,727 27.2% 57,476 47,333 Hi-Tech 6,216 4,922 26.3% 21,848 17,697 Plastic 6,687 4,614 44.9% 18,664 14,565 Agro Processing 4,442 4,132 7.5% 16,643 14,839 All figures in Million YoY change 21.4% 23.5% 28.1% ↑12.2% Other 109 59 84.7% 321 232 ↑ 38.4% EBITDA^ 2,466 1,428 72.7% 7,320 5,508 32.9% Hi-Tech 1,099 901 22.0% 3,718 3,292 12.9% Plastic 704 281 150.5% 1,576 845 86.5% Agro Processing 590 365 61.6% 1,959 1,546 26.7% Other 73 -119 161.3% 67 -175 138.3% Margin^ Hi-Tech Plastic Agro Processing Other 14.1% 10.4% 17.7% 18.3% 10.5% 6.1% 13.3% 8.8% 67.0% -201.7% 12.7% 11.6% 17.0% 18.6% ↑ 8.4% 5.8% 11.8% ↑20.9% 10.4% -75.4% PAT Cash PAT 9,769# 10,377 2,791* 3,411* 8,320# 10,678 3,287* 5,700* * PAT include exceptional items on account of net gain due to restructuring, FV on NCD and Equity issuance ₹3,169 in Q4FY22 and 2,955 in FY22 ^ Results from Continuing operations # Results include one time gain of 12,347 from sale of discontinued operations 17#18Financial Performance Consolidated - JAIN • Revenue growth was secular across all business divisions in India during the year. EBITDA margin has shown considerable improvement on account of better realization and margins in Plastic and Food processing division Q4FY23, Hi Tech Division growth was driven by completion of existing projects, strong demand from retail market and tissue culture business in India The Company also saw significant growth in Plastic Division driven by supply under Jal Jeevan Mission (JJM) and strong demand from retail for PVC pipes mainly from Maharashtra and PE pipes for JJM Agro Division Growth on account of dehydrated onion in India. The Company saw growth in Fruit processing both in India and overseas Consolidated debt reduced at 35.8 billion as on March 31, 2023 as compared to 60.1 billion as on March 31, 2022 on account of repayment of bond and IIB debt In FY23, Revenue from discontinued operations was 22,321 mio (23,861 mio FY22) and EBITDA of 2,162 mio/9.7% (3,836 mio in FY22/16.1%) 18#19Financial Performance Particulars Standalone JAIN All figures in Million Consolidated 31-Mar-23 31-Dec-22 31-Mar-22 31-Mar-23 31-Dec-22 31-Mar-22 Non current assets 44,917 44,688 45,544 56,095 60,610 61,559 Current assets 38,987 38,320 37,424 53,939 65,405 64,369 Non current liabilities 366 1,187 1,382 1,261 3,019 2,832 Current liabilities 10,245 8,770 7,972 17,177 20,072 19,683 Capital employed 73,293 73,051 73,615 91,597 102,924 103,412 Net worth 45,923 45,579 45,325 54,377 36,427 39,363 Borrowings 27,371 27,472 28,291 37,219 66,497 64,049 Sources of funds 73,293 73,051 73,615 91,597 102,924 103,412 • Significant improvement in NW and reduction in debt in Consolidated Financials on account of repayment of bonds and IIB debt 19#20Working Capital Cycle - DSO 31 Mar 23 31 Dec 22 31 Mar 22 JAIN All figures in days (DSO) Standalone Standalone Inventory AR NWC Inventory AR NWC Inventory AR NWC 314 274 251 250 213 225 Hi-Tech Agri 113 266 301 116 270 322 136 297 365 92 100 110 Plastic 49 123 159 58 138 170 50 155 193 Total 92 213 250 100 225 274 110 251 314 Inventory AR NWC 31-Mar-23 ■31-Dec-22 ■31-Mar-22 Improvement in WC capital mainly due to retail business in spite of higher sales Consolidated Inventory AR NWC Inventory AR NWC Inventory AR NWC Consolidated Hi-Tech Agri 112 194* 228 111 127 192 108 144 200 121 125 121 119 120 105 Plastic 50 86 118 60 85 118 52 106 135 176 177 185 Agro/Food 206 51 167 220 57 183 214 59 172 Inventory Total 121 119 176 125 105 177 121 120 185 131-Mar-23 AR ■31-Dec-22 ■31-Mar-22 NWC * Normalised Accounts Receivables (i.e. excludes AR from discontinued operations) 20#21Standalone Accounts Receivables JAIN Particulars Retail 23-Mar-23 23-Mar-22 All figures in million) YoY change 2,417 2,860 (443) DSO 44 61 (17) Government 12,541 11,401 1,140 DSO 394 619 (225) Export 5,802* 4,721 1,081 DSO 601 453 148 Total 20,760 18,982 1,778 DSO 213 251 (38) * Export receivables DSO has increased on account of receivables of 3,200 million from discontinued operation. The Company has received 1,400 million in April, 2023 and expected to receive remaining balance in FY24 21#22Standalone Debt Profile JAIN All figures in million) Particulars Outstanding Repayment Schdule Long Term Debt 31-Mar-23 FY24 FY25 FY26 FY27 FY28 Interest RTL (incl ECB) 3,027 994 994 1,039 bearing Interest FITLs (incl ECB) 2,285 710 770 805 bearing NCDs (incl ECB) 0.01% 8,650 7,330 1,320 Sub Total 13,962 1,704 1,764 1,844 7,330 1,320 Working Capital Debt Fund Based Limit Interest bearing 15,400 Total Debt 29,362 During April, 2023, the company has prepaid ₹135 Crs towards NCDs from export overdue receivables. The Company has paid NCDs up to Sept. 2026 22#235 Revival and Way Forward#24Management Commentary "Leave this world better than you found it." - Bhavarlal H Jain We are pleased to share with you very positive financial results of the fourth quarter and year ended as on 31 March 2023. The Company has achieved significant growth in revenue and earnings in line with the expectations. The Company successfully closed a merger deal with Rivulis on 29 March 2023 and also successfully implemented a restructuring plan within a period of one year as on 31 March 2023. We believe this strong momentum will carry forward in FY24 as well as foreseeable future. Our underlying businesses are receiving continual traction due to positive demand, quality and our execution capacity. We plan to remain focused on reducing debt obligations, improving working capital cycle while managing growth rates. The Company remain focus on improving operating margins by expanding and strengthening dealer network across India. The Company has commenced its supplies under 'Jal Jeevan Mission' in Maharashtra as per the rate contract agreement. The Company is having current order book of 23.54 Bn on consolidated basis. JAIN 24#25Robust Order Book Position Standalone 5,924 million JAIN Consolidated *5,924 million High-Tech Agri *7,354 million *7,571 million Plastics* Agro / Food *10,053 million 13,278 million *23,548 million $ HY 25#26Disclaimer This investor presentation has been prepared by Jain Irrigation Systems Limited and does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or supplied should not be deemed to constitute an offer. No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this presentation is only current as of its date. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements", including those relating to the general business plans and strategy of Jain Irrigation Systems Limited, its future financial condition and growth prospects, future developments in its industry and its competitive and regulatory environment, and statements which contain words or phrases such as 'will', 'expected to', 'horizons of growth', 'strong growth prospects', etc., or similar expressions or variations of such expressions. These forward-looking statements involve several risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. Jain Irrigation Systems Limited may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. This presentation cannot be copied and disseminated in any manner.#27You may send your queries to Mr. Avdhut Ghodgaonkar; [email protected] Mr. Bipeen Valame