Investor Presentaiton

Rs. crore Financial Highlights (FY14-19) Revenue 2,566 2,321 2,114 1,746 1,862 ,518 Rs. crore EBITDA and EBITDA Margins 9.3% 9.9% 10.5% 8.4% 8.5% 7.9% Rs. crore V-GUARD PAT and PAT Margins 6.8% 6.4% 6.0% 5.7% 4.6% 4.1% FY14 FY15 FY16 FY17 FY18 FY19 127 138 185 222 198 238 FY14 FY15 FY16 FY17 FY18 FY19 70 71 112 145 133 166 FY14 FY15 FY16 FY17 FY18 FY19 Note 1:Please note that that consequent to the introduction of Goods and Service Tax (GST) with effect from July 01, 2017, Central Excise, Value Added Tax (VAT), etc. have been subsumed into GST. In accordance with Indian Accounting Standard - 18 on Revenue and Schedule III of the Companies Act, 2013, unlike Excise Duties, levies like GST, VAT, etc. are not part of Revenue. Hence, the revenue and growth calculations for FY18, are not strictly comparable with FY17 and prior periods. Note 2: V- Guard underwent brand rejuvenation in Q4 FY18 where significant investments (Rs. 45 crore ATL spends) were made resulting in lower EBITDA and PAT for FY18. --ROCE Net Worth -Gross D/E ROE 32.9 29.9 25.3 25.9 22.2 21.3 22.0 23.5 22.8 18.7 17.7 18.4 FY14 FY15 FY16 FY17 FY18 FY19 Rs. crore Note 3: V-Guard adopted Ind-AS framework starting FY18. Numbers for FY17 have been reinstated in compliance with Ind-AS to draw meaningful comparison. Prior period numbers are in IGAAP and not comparable. 0.3 0.2 0.0 0.0 0.0 0.0 318 378 471 634 752 900 FY14 FY15 FY 16 FY17 FY18 FY19 16

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