Investor Presentaiton

Financial Ratio Trend FY16 FY17 FY18 FY19 FY20 Net debt/Equity 1.58 1.27 1.16 1.09 1.00 Solvency ratios Net debt/EBITDA 1.85 1.83 2.51 2.64 2.26 EBIT/Interest 5.54 7.32 4.98 4.46 4.66 Current ratio 1.15 1.41 1.42 1.25 1.19 Fixed asset turnover 1.77 1.86 1.80 1.81 1.77 Total asset turnover 0.90 0.91 0.84 0.84 0.81 Operational ratios Inventory days 68 70 79 75 83 Debtor days 52 53 56 60 59 Payable days 41 41 39 39 49 Cash conversion cycle 79 82 96 95 93 ROE 42.8% 29.6% 15.4% 15.2% 16.1% Return ratios ROCE (Pre-tax) 24.6% 19.3% 11.3% 10.9% 12.3% Continuous Improvement in Net Debt/Equity WELSPUN 3. FY17, FY19 & FY20 Return Ratios figures adjusted for Exceptional item 1. ROCE = EBIT / Average Capital Employed; ROE = Net Profit / Average Net worth 4. 2. Total asset turnover = Sales/ (Fixed assets + Gross current assets) ROCE (pre-tax) excluding Welspun Flooring is 11.6% for FY19 and 13.9% for FY20 11

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