#1SRF We always find a better way SRF An Overview - Investor Presentation#2Contents Particulars SRF at a Glance Key Business Segments Company Highlights Strategy/Outlook Accolades Glossary Disclaimer Slide No. 3 9 21 29 32 34 36 SRF We always find a better way SRF an Overview | | 2#3SRF at a Glance#4Snapshot 7,209 INR Cr Revenue 1, 2, 3, 4 41% Chemicals 3 36% Packaging 3 Mi 1,507 Cr EBIDTA 1, 3, 5 Exports to 90+ Countries 6 Operations in 4 Countries 7 19% Technical Textiles 3 L SRF We always find a better way 916 Cr PAT 1,3 14 Manufacturing Plants 6,600+ Global Workforce 3,8 1 FY 20 consolidated numbers in INR; excludes discontinued operations 4 revenue from operations 24% revenue from other businesses 5EBIDTA = PBT + dep + finance cost + exchange currency fluctuation 3 numbers are approximate 6 as on FY20 7 India, Thailand, South Africa and Hungary 8as on August 31, 2020 SRF an Overview | 4#5Board of Directors Promoter Directors Other Directors Arun Bharat Ram Chairman Ashish Bharat Ram Managing Director Pramod G. Gujarathi Director - Safety & Environment Dr. Meenakshi Gopinath Director CSR Lakshman Lakshminarayan Independent Director Tejpreet S Chopra Independent Director Bharti Gupta Ramola Independent Director Source: Company annual report SRF We always find a better way Kartik Bharat Ram Deputy Managing Director Vellayan Subbiah Independent Director Puneet Yadu Dalmia Independent Director Yash Gupta Independent Director SRF an Overview | 5#6Leadership Team Majority of SRF Leadership team is home grown Ashish Bharat Ram Managing Director Arun Bharat Ram Chairman Kartik Bharat Ram Deputy Managing Director SRF We always find a better way Prashant Yadav President & CEO - Fluorochemicals Business 26 years with SRF Anurag Jain President & CEO - Specialty Chemicals Business & Chemicals Technology Group 26 years with SRF Prashant Mehra President & CEO - Packaging Films Business, Coated & Laminated Fabrics Business 24 years with SRF Sanjay Chatrath President & CEO - Technical Textiles Business 35 years with SRF Source: Company annual report Rahul Jain President & CFO 10 years with SRF Ajay Chowdhury President & CHRO 10 years with SRF Sanjay Rao Executive Vice President Group CIO & Shared Services Head 25 years with SRF SRF an Overview | 6#7Industries Served ・ Chemicals SRF We always find a better way Packaging Films Technical Textiles Agrochemicals Pharmaceuticals FMCG Food and Agro Trucks / Buses Mining SACHET MOCKUP CEMENT Air conditioning Refrigeration Confectionary Soaps and Detergent Steel Cement E Solvents Automotive Solar Panels Battery Separator Other Businesses serve industries such as advertising, events, etc. 40 KG SRF an Overview | 7#8SRF's Journey Till Date Foundation 1970-2000 Diversification 2001-2011 1970 Shriram Fibres was incorporated 2004 P2, BOPET in Indore SEZ 2012 Transformation 2012 - Present MPP-I, P14/15 SRF We always find a better way 2013 TCE/PCE, BOPET (Thailand), BOPP (South Africa) 2007 HFC 134a (Bhiwadi) I 1974 Started manufacturing nylon tyre cord fabrics 2014 P18/19, P2/P7, AHF, HFC 134a I 2015 P3, P17, MPP-II, acquired Dupont Dymel I 1 CMS expansion 2008 (Bhiwadi) 1989 Entered chemicals business to manufacture refrigerants 2016 HFC 134a Pharma, P29/30 | MPP, P6/P9, BOPET line in Indore SEZ, I 2009 polyester industrial 2017 P28, MPP-3, CMS, BOPET & BOPP line in Indore DTA yarn 1990 Shri Ram Fibres renamed as SRF PET resin plant, 2018 P32, P34, MPP-III 2010 laminated fabrics, HFC 134a expansion 2019 P-14/17 (expansion), F32, F125, AHF 1995 CMS plant, packaging films 2011 P10, coated fabrics plant 2020 P33, BOPET line (Thailand & Hungary) Key projects in progress/pipeline - agro chemical capacities, R22 and PTFE capacity, chloromethane capacity expansion, BOPP capacity in Thailand, debottlenecking in technical textiles SRF an Overview | 8#9Key Business Segments#10Specialty Chemicals Business རི་ SRF We always find a better way + ве Organic Intermediates for Agrochemical Industry Pharmaceutical Industry ☐ Core Chemistries Halogenation: Chlorination, Fluorination, Bromination and lodination Capability to manufacture varying batch sizes Pilot Plant Kilo Lab R&D Lab Flexible manufacturing Serving large agro chemical customers Focus on complex intermediates Chemistries added over the years Hydrogenation, Nitration, Diazotization, Isomerization, Grignard, Organocatalysts, Amination, Ethylation, Decarbonoxylation ☐ Dedicated manufacturing CGMP plant setup for pharma intermediates SRF an Overview | 10#11Specialty Chemicals Business Applications SRF We always find a better way Product/Service Category Intermediates for API / AI Contract Manufacturing, Custom Research & Synthesis Intermediates for Applications Applications / Services ☐ ☐ ☐ Agrochemical industry: Active Ingredients (AI) for Herbicides, Fungicides, Insecticides, etc. Pharmaceutical industry: Key Starting Materials (KSM)/Intermediates for Active Pharmaceutical Intermediates (APIs) Contract manufacturing of Intermediates / Al for the Agro and Pharma Innovators Other Specialty chemicals that find application in Material Sciences, Surface Chemistry, etc. xxx Source: Frost & Sullivan report m 11 SRF an Overview | 11#12Strong R&D, Process Innovation and Chemistry Expertise $ Consistent spends on R&D 4 jj 200+ Patents filed to date 1 400+ People in R&D, Engineering and Scale-ups 2 People INR 180 Cr+ Investment in infra 3 Skilled, experienced, and highly educated employees (INR Cr.) 65 FY18 73 FY19 Multi-disciplinary R&D staff with high focus on innovation SRF We always find a better way 73 FY20 Facilities Client Interaction In-house pilot plant, engineering lab and testing equipment Consistent and long-term contact with customers Experts in fluorine and thereafter successfully diversified into other complex chemistries Integrated testing capabilities enabling fast product development Constant engagement with customers for testing and development process Company DNA Prioritization of innovation from the executive team to production staff Growth has been driven primarily by process innovation and it continues to be the Company's future strategy Regular brainstorming in product development Note: R&D spends are for chemicals business 1 as on August 31, 2020 2 as per FY20 3 as on June 30, 2020 4 R&D spend represents revenue expenditure SRF an Overview | 12#13Integrated Chemical Business Operations SRF We always find a better way Fluorspar Chlorine Chloromethanes Methyl Chloride Carbon Tetrachloride Hydrofluoric Acid Intermediate for Speciality Chemicals Chloroform HCFC - R22 PTFE Methylene Dichloride Perchloro Ethylene Trichloro Ethylene HFC-R32 HFC-R125 HFC Blends HFC-R 134a MDI 134A/p Key Raw Material External Sale & Captive Use Intermediate Product Future Products External Sale SRF an Overview | 13#14Fluorochemicals Business Source: Frost & Sullivan report Refrigerants Brand: FLORON F 22, F 32, F 134a, F125 HFC Blends: F 410A, F 404A, F 407C Chlorinated Solvents Methylene Dichloride Methyl Chloride Chloroform Carbon Tetra Chloride Trichloroethylene Perchloroethylene Pharma Grade Brand: DYMEL F 134a/P Propellant Brand: FLORON F 134a Propellant FLORO 1343 FLOSOR Holly my Book 134a DYMEL 134A/F CONTAINER AND CONTE PARMACEUTICAL USES Vertically integrated player with significant domestic market share SRF We always find a better way SRF an Overview | 14#15Fluorochemicals Business Applications SRF We always find a better way Products Refrigerants Metered Dose Inhaler (MDI) (F 134a/P) Chlorinated Solvents Applications Cooling medium in room A/Cs, automobile A/Cs, commercial refrigeration Propellant in asthma inhalers Solvent in pharma & agro chemical industries Feedstock for our range of refrigerants Cleaning agent in steel industry Others: ■ N-Butane A/C Air Pure Cleaning Chemicals Fuel for Butane torch Purifies the split & car A/C air Commercial use for toilet bowl cleaning, floor & glass cleaning Source: Frost & Sullivan report SRF an Overview | 15#16Packaging Films Business SRF We always find a better way BOPET films Brand: PETLAR Transparent Metallized High-performance Value-added products BOPP films PETLAR / OPLAR Specialty coatings Chemical Acrylic coatings. Metallized film Brand: OPLAR Sealable Non-sealable Metallized High-performance Confectionery Food ☐ Dairy, bakery ☐ Household spices, ready-to-eat Pet food Source: Frost & Sullivan report Key packaging applications Non-Food Shampoos, detergents Packaging for perfumes Cardboard SACHET MOCKUP Industrials " Hot stamping foils, Thermal transfer Electric cables, Air ducting Solar panels, battery separators Flat screen display SRF an Overview | 16#17Technical Textiles Business Tyre Cord Fabrics ■ NTCF :Tyre Applications Belting Fabrics Reinforcements in Bias ■ Reinforcement Material for Conveyor Belts Tyres PTCF : Tyre Reinforcements in Radial Tyres Polyester Industrial Yarn ■ Geo-grids Seat Belts Ropes and Cordage Solid Woven Fabric ■ Transmission Belts ■ PVC conveyor belts ■ Hoses Narrow Woven Belts SRF We always find a better way Market leader in India and second largest player globally for tyre cord fabrics; second largest player globally for belting fabrics * Source: Frost & Sullivan report SRF an Overview | 17#18Other Businesses Source: Frost & Sullivan report Coated Fabrics Brands: SRF TUFTOP, SRF FABAWN, SRF DURALITE, SRF DURASHIELD, SRF DURATUFF, SRF ECOLITE, SRF SAVEN Laminated Fabrics Brands: SRF FABGLOW, SRF HI-GLOSS, SRF FLEXIKAWACH, SRF Arjun Applications include: ■ Awnings Tents Pagodas Applications include: Print banners ■ Hoardings ■ Billboards ◉ Customized tarpaulin Tent dome covers Static covers Pandal covers SRF We always find a better way SRF an Overview | 18#19Manufacturing Facilities (1/2) SRF We always find a better way Integrated manufacturing facilities capable of handling various types of reactions with optimal efficiency and consistency First overseas packaging film plant in Thailand, capability to produce packaging films with a wide range of microns SRF is a comprehensive solutions provider for both BOPET and BOPP with a focus on technology and innovation Production facilities have well-equipped Q&A Labs that are accredited with the NABL to ensure quality parameters are met SRF an Overview | 19#20Manufacturing Facilities (2/2) FLUOROCHEMICALS & SPECIALTY CHEMICALS 2 National Operations 1. Rajasthan, India - Bhiwadi 2. Gujarat, India - Dahej TECHNICAL TEXTILES 4 National Operations 1. Madhya Pradesh, India - Malanpur, Bhind 2. Tamil Nadu, India - Manali 3. Gummidipoondi 4. Viralimalai PACKAGING FILMS 3 National Operations 1. Uttarakhand, India- Kashipur 2. Madhya Pradesh, India - Special Economic Zone (SEZ), 3. Pithampur, Indore - Bagdoon, Pithampur, Indore 3 International Operations 4. KwaZulu-Natal, South Africa 5. Rayong, Thailand 6. Jaszfenyszaru, Hungary Map Not to Scale 1 12 1 SRF We always find a better way LAMINATED FABRICS 1 National Operation 1. Uttarakhand, India - Kashipur COATED FABRICS 1 National Operation 1. Tamil Nadu, India - Gummidipoondi International Operations 5 6 South Africa Thailand Hungary SRF an Overview | 20#21Company Highlights#22Company Highlights Healthy growth backed by strong financial returns Demonstrated consistent growth in scale of operations depicted by CAGR of 13% 1 in last 2 years and a healthy EBITDA margin of 21%¹ High growth backed by capacity expansion and addition of new products Market leadership across businesses 2 Market leader across businesses; transitioned from technical textile player to a specialty chemicals player Experts in fluorine and thereafter successfully diversified into other complex chemistries Market Leadership scale manufacturing Flexible manufacturing facilities large Fully integrated facilities Multi-product facilities at varied locations designed to serve large customers across geographies Healthy Growth Manufacturing Prowess SRF We always find a better way Growing Market Large and growing addressable market, high entry barriers in chemical industry Opportunity for significant growth emerging from China + 1 trend Well-positioned to capitalize on industry growth backed by client relationships Experienced Management Deep domain expertise Combined experience of ~250 years; possess extensive industry knowledge Strong integration and co-ordination among functions, culture and leadership since senior management is largely home grown B Strong Business Profile Research Led Strong R&D, process innovation and chemistry expertise R&D focussed on developing customized products, introducing novel chemistries and differentiated process technologies Multiple products developed through the years; in-house safety studies are carried out for new products Long track record in chemical business has led to established relationship with marquee customers in their respective industries 1 Based on FY20 financials 2 Source: Frost & Sullivan report SRF an Overview | 22#23Large and Growing Market: Chemicals (1/2) Long-term benefits Global Specialty Chemicals Market Landscaping Global Agro Chemicals SRF We always find a better way Global Pharma Chemicals FY19 FY24E FY19 FY24E FY19 FY24E 6.2% CAGR 6.7% CAGR 6.2% CAGR 580* 782* 130* 180* 27* 37* Global specialty chemicals is only ~12% of the global chemicals market; offering strong growth potential India Specialty Chemicals Higher growth potential compared to the global industry Increasing focus on essential supplies such as agro, pharmaceuticals and hygiene are expected to drive growth in the chemicals sector. Companies catering to these end-user segments are likely to benefit Indian Agro Chemicals India's pesticides market is under penetrated with a consumption of 0.6kg/Ha compared to China (13), USA (7) Indian Pharma Chemicals FY19 FY24E FY19 FY24E FY19 FY24E 11.1% CAGR 21.5% CAGR 40* 68* 10.7% CAGR 4.2* 11.1* 3.6* 6.0* *USD Bn. Themes playing out for the chemicals industry Global players preferring China + 1 Source: Frost & Sullivan report offshore strategy Capacities shifting to cost efficient markets with strong technology capabilities JVs/Technology transfers will drive the knowledge wave for the Indian industry, given stronger IP protection rights in India SRF an Overview | 23#24Large and Growing Market: Chemicals (2/2) Long-term benefits SRF We always find a better way CRAMS/CSM Global CRAMS market size (FY19) * 242* CRAMS growth momentum to continue. Market is expected to grow at a CAGR of 10% up to FY24 on the back of increasing trends in contract manufacturing and innovators shifting production to low cost destinations Fluorochemicals *USD Bn. Source: Frost & Sullivan report Japan 8-9% Custom synthesis and manufacturing on the rise in India Others 20.3* 11-15% 12% CAGR US / EU 60% India 7-8% 11.5* China 10-12% FY19 FY24E India's low cost labour advantage along with research, process and manufacturing expertise will result in increasing demand from MNC clients Significant growth potential in HFCs, given India is amongst the lowest consumer per capita (kg) 490 460 FY20 FY25E 520 5.8% CAGR 21.4* 30* Global Market 14.4% CAGR * 0.45* 0.88* India Market 117 40 17 US Europe Japan China Emerging Economies India The market is consolidated primarily due to significant entry barriers prevalent in the industry. Fluorochemicals requires high capital investments, R&D focus and involves complex chemistries along with multiple regulatory compliances SRF an Overview | 24#25Large and Growing Market: Packaging Expanding Market with strong growth drivers BOPET ■Global India 14* 10* 7% 7* 6% 0.65* 11% 1.1* 9% 1.7* 2015 2020 2025E CAGR BOPP ■Global ■India 22* 16" 11* 7% 8% 2015 SRF We always find a better way 0.9* 9% 1.4* 8% 2.1* 2020 2025E Mega Trends Urbanization Emerging Middle Class Premium Products Improving capacity utilizations in BOPET *USD Bn. Source: Frost & Sullivan report Key Impact ■ From unpackaged to packaged food ■ From joint families to nuclear families ■Longer shelf life products ■ Rise in purchasing power ■ Smaller pack sizes ■ Focus on convenience and functionality ■ Increased impetus towards product branding ■ Growth in e-commerce and organized retail Hygienic packaging to drive growth in the post-CoVID world Key Beneficiaries Packaged Food Convenient Packaging Premium Packaging Packaging industry riding on strong growth in F&B and organised retail SRF an Overview | 25#26Market Leadership Across Businesses SRF We always find a better way Technical Textiles Domestic market leader in tyre cord manufacturing and Belting Fabric ■ 40% market share in India's nylon tyre cords market. 2nd largest player globally Packaging Films ■ Recognized for expertise in developing, manufacturing and marketing innovative high-quality film products Flexible business model, strong and loyal customer relationship with tailored solutions; NPD Lab to ensure future readiness Highly efficient asset base offering value added products in close proximity to customer locations 1348 1344 Fluorochemicals Unique and fully integrated facilities extending across a wide range of refrigerant gases and industrial solvents Domestic leadership in HFC's with strong trade distribution network; significant market share of fluorochemicals in India One of the few global manufacturers for Pharma grade 134a/P - propellant in metered dose inhalers ■ Among the top five global manufacturers for key fluorochemicals products Speciality Chemicals Established relationship with marquee customers ■ Established capability in scaling up pilot processes and creating value through operational excellence ■ High levels of customer engagement supported by customer centric R&D, technical service, product and quality management under one roof Handling complex reactions - halogenation, ethylation, hydrogenation, nitration, diazotization, grignard, isomerization, amination, organocatalysis, and decarboxylation Source: Frost & Sullivan report SRF an Overview | 26#27Growth Backed by Strong Financial Healthy Returns (1/2) (Figures in INR Cr) 8,000 7,000 6,000 5,685 8% 5,000 17% 31% 4,000 7,100 4% Operating Performance 37% 19% 7,209 4% 36% 21% 25% 13% 11% SRF We always find a better way 30% 20% 3,000 35% 29% 8% 10% 8% 41% 2,000 1,507 1,545 1,349 1% 975 1,000 32% 462 24% 916 44% 592 19% 382 46% 177 9% 0 0% FY18 Total Revenue Revenue Contribution (%) FY19 FY20 Q1FY21 EBITDA PAT EBITDA Margin PAT Margin Technical Textiles Chemicals Packaging Films Others Source: Company annual reports and Q1FY21 results revenue only from operations Notes: all numbers are on a consolidated basis all numbers for FY19, FY20 & Q1FY1 exclude discontinued operations EBIDTA = PBT+ dep + finance cost + exchange currency fluctuation SRF an Overview | 27#28Healthy Growth Backed by Strong Financial Returns (2/2) Earnings Per Share (INR) SRF We always find a better way 19% Return on Net Worth 80 80 103 159 FY18 FY19 FY20 Source: Company annual reports Note: all numbers are on a consolidated basis 3.01 Net Debt Metrics 2.55 13% 14% FY18 FY19 FY20 0.82 0.83 0.77 FY18 EPS numbers for FY19 & FY20 exclude discontinued operations FY19 FY20 2.53 ■Net Debt/Equity ■Net Debt / EBIDTA SRF an Overview | 28#29Strategy / Outlook#30Strong Focus on Value Creation Focus on building leadership businesses Build and maintain market leadership in business segments Drive growth in Chemicals Business Expand Als/KSM for APIs Increase share in domestic refrigerant market Build a Company- known and respected for its R&D capabilities Nurture innovation through R&D Reposition portfolio towards knowledge based products Focus on building knowledge based value- added products Continue to build new competencies in the chemical technology space SRF We always find a better way SRF an Overview | 30#31Potential Growth Drivers Specialty Chemicals Business SRF We always find a better way Fluorochemicals Business Packaging Films Business Strong pipeline of new products in agro chemicals and pharmaceuticals High traction from MNC customers Fluorine application rising in end user industries like pharmaceuticals and agrochemicals Will continue to be a leader in the domestic HFCS market Increase in capacity of chloromethanes underway Increased industrialization, higher disposable income to drive growth in India Deep engagements with international customers Hygienic packaging to be a growth driver Improving capacity utilization Business model of moving closer to the customer showing positive traction Source: Frost & Sullivan report Technical Textiles Business to benefit from capacity rationalization across plants and generate significant cash SRF an Overview | 31#32Our Accolades#33Accolades SRF 2004 ■ Deming Prize for the Tyre Cord Business 2006 PRIZE CONNMITTEL DEMING MEDA ■ Greentech Safety Platinum Award Jamsetji Tata Award conferred on Chairman, Mr. Arun Bharat Ram by the Indian Society for Quality (ISQ) 2008 ■ CII ITC Sustainability Award 'Strong Commitment' ■ Officer's Cross of the Order of Merit conferred on Chairman, Mr. Arun Bharat Ram by the Federal Government of Germany 2009 ■ CII ITC Sustainability Award 'Significant Achievement' ■ International Labour Organisation (ILO) Recognition for creating awareness on HIV AIDS 2011 Forbes 'Best Under a Billion List' 2012 ■ Deming Prize for Chemicals Business Businessworld FICCI CSR Award ■ 2013 Aaj Tak Care Award Category "Education" ■ Greentech CSR Award 2014 ■ Pt. Madan Mohan Malviya Award 2015 ■ CRY Child Rights Champion Award 2016 Syngenta Supplier Award for Health, Safety & Environment 2017 ☐ Bayer Supplier Award for Sustainability ■ ICC (Indian Chemical Council) Lifetime Achievement Award to Chairman, Mr. Arun Bharat Ram FICCI CSR Award for Education, Skill Development and Livelihood ☐ CHEMEXCIL Export Award 2018 ■ Syngenta Supplier Award for Innovation ■ Sword of Honour by the British Safety Council 2019 ■ The Economic Times Family Business of the Year (Large Companies) Award ■ National CSR Award 2018 in the category - Corporate Awards in CSR in Challenging Circumstances - North by the President of India, Shri Ram Nath Kovind 2020 ■ EY Entrepreneur of the Year 2019 in the manufacturing category conferred on Chairman, Mr. Arun Bharat Ram SRF an Overview | 33#34Glossary#35Glossary AHF Anhydrous Hydrogen Fluoride JV Joint Venture SRF We always find a better way ΑΙ Active Ingredients KSM Key Starting Materials ΑΡΙ Active Pharmaceutical Intermediates MNC Multi National Corporations BOPET Biaxially-Oriented Polyethylene Terephthalate MPP Multi Purpose Plant BOPP Biaxially Oriented PolyPropylene NABL National Accreditation Board for Testing and Calibration Laboratories CAGR Compounded Annual Growth Rate PAT Profit After Tax CGMP Current Good Manufacturing Practice PCE Perchloro Ethylene CMS Chloromethanes PET Polyethylene Terephthalate CRAMS Contract Research and Manufacturing Services PTFE Polytetrafluoroethylene CSM Custom Synthesis Manufacturing R&D Research and Development EBITDA Earnings Before Interest, Taxes, Depreciation, and Amortization SEZ Special Economic Zones F&B Food and Beverages TCE Trichloro Ethylene HFC Hydrofluorocarbon SRF an Overview | 35#36Disclaimer SRF We always find a better way This presentation has been prepared by SRF Limited (the "Company") for general information purposes only and does not constitute any recommendation or form part of any offer or invitation, directly or indirectly, in any manner, or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefor. This presentation does not solicit any action based on the material contained herein. Nothing in this presentation is intended by the Company to be construed as financial, legal, accounting or tax advice. This presentation has not been approved and will not or may not be reviewed or approved by any statutory or regulatory authority in India or by any stock exchange in India. This presentation does not purport to be a complete description of the markets conditions or developments referred to in the material. This presentation contains certain forward-looking statements relating to the business, financial performance, strategy and results of the Company and/or the industry in which it operates. Forward-looking statements are statements concerning future circumstances and results, and any other statements that are not historical facts. The forward-looking statements, including those cited from third party sources, contained in this presentation are based on numerous assumptions and are uncertain and subject to risks. A multitude of factors including, but not limited to, changes in demand, competition, technology and any macroeconomic conditions in India and globally can cause actual events, performance or results to differ significantly from any anticipated development. Neither the Company nor its affiliates or advisors or representatives nor any of their respective affiliates or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements or management estimates are free from errors nor do they accept any responsibility for the future accuracy of the forward-looking statements contained in this presentation or the actual occurrence of the forecasted developments. Forward-looking statements speak only as of the date of this presentation and are not guarantees of future performance. 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 information contained in this presentations and material is only current as of the dates specified herein. None of the Company, its directors, promoter or affiliates, nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this presentation or its contents or otherwise in connection with this presentation, and makes no representation or warranty, express or implied, for the contents of this presentation including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this presentation or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. Past performance is not a guide for future performance. The information contained in this presentation is current, and if not stated otherwise, made as of the date of this presentation. The Company undertakes no obligation to update or revise any information in this presentation as a result of new information, future events or otherwise. Any person / party intending to provide finance / invest in the shares / businesses of the Company shall do so after seeking their own professional advice and after carrying out their own due diligence procedure to ensure that they are making an informed decision. 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, as amended, or the rules made thereunder, 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 is strictly confidential and may not be copied or disseminated, reproduced, re-circulated, re-distributed, published or advertised in any media, website or otherwise, in whole or in part, and in any manner or for any purpose. Any unauthorized use, disclosure or public dissemination of information contained herein is prohibited. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. Failure to comply with this restriction may constitute a violation of the applicable securities laws. The distribution of this document in certain jurisdictions may be restricted by law and persons in to whose possession this presentation comes should inform themselves about and observe any such restrictions. By reviewing this presentation, you agree to be bound by the foregoing limitations. This presentation is not an offer to sell or a solicitation of any offer to buy the securities of the Company in the United States or in any other jurisdiction where such offer or sale would be unlawful. Securities may not be offered, sold, resold, pledged, delivered, distributed or transferred, directly or indirectly, in to or within the United States absent registration under the United States Securities Act of 1933, as amended (the "Securities Act"), except pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. The Company's securities have not been and will not be registered under the Securities Act and no public offering of securities will be made in the United States. By accessing this presentation, you accept that this disclaimer and any claims arising out of the use of the information from this presentation shall be governed by the laws of India and only the courts in New Delhi, India, and no other courts, shall have jurisdiction over the same. SRF an Overview | 36