Investor Presentaiton

Large 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

View entire presentation