Max India Limited Financial Overview

MAX Max Specialty Films MAX SPECIALITY FILMS Enhancing quality...always Key Business Drivers Unit Quarter Ended Y-o-Y Year ended Y-o-Y Mar-15 Mar-14 Growth Mar-15 Mar-14 Growth a) Sales Quantity - BOPP Tons 12,085 11,222 8% 44,970 46,354 -3% b) Revenue Rs. Cr. 190 195 -3% 755 746 -1% c) Profitability: Contribution Rs. Cr. 49 33 48% 149 121 23% Contribution Margin % 26% 17% 20% 16% EBITDA Rs. Cr. 24 15 57% 77 57 35% EBITDA Margin % 12% 8% 10% 8% PBT Rs. Cr. 6 4 -50% 12 14 -14% Margin % 3% 2% 2% 2% • 3% drop in Sales Quantity is predominantly because of shift to high margin yielding thin films • Higher realisations per unit coupled with cost rationalisation, lead to 35% higher EBITDA vis-à-vis FY15 . Decline in PBT is on account of higher interest cost on fresh borrowings consequent to transfer of MSF to a subsidiary resulting in liquidity of Rs. 110 cr. for Max India • Continues to aggressively tap growth opportunities with key FMCG brands 54

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