Investor Presentaiton

BLS INTERNATIONAL Key Annual Ratios Attractive returns with continuous operational cash flows increase Return on Equity¹ (%) FY2017 ROE up by 4.7 pps y-o-y Return on Capital Employed² (%) FY2017 ROCE up by 1.7 pps y-o-y Note: 1. 2. 3. 62.2% 44.3% 33.3% 35.2% 30.5% 63.4% 46.5% 32.6% 29.9% 31.6% FY2013 FY2014 FY2015 FY2016 FY2017 FY2013 FY2014 FY2015 FY2016 FY2017 Earnings per Share³ (Rs.) 5 yr. CAGR: 37.1%; FY2017 Growth: 61.8% y-o-y 30.17 23.02 19.97 13.78 FY2013 FY2014 FY2015 48.80 Operating Cash Flows/Net Profit (x) Continuously increasing earnings and quality of profit 1.1x 0.6x 0.5x 0.6x 1.8x FY2016 FY2017 FY2013 FY2014 FY2015 FY2016 FY2017 Return on Equity = Net profit/ Average Shareholder's Equity Return on Capital Employed = EBIT/ Average Capital Employed EPS figures are pre stock split. Stock split was recorded on April 27, 2017 TM Corporate Presentation November 2017 | 46

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