UltraTech Cement Limited has informed the Exchange about Investor Presentation for the period ended 30th September, 2022.

19th October, 2022

BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001. Scrip Code: 532538

The Manager Listing Department The National Stock Exchange of India Limited “Exchange Plaza”, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051. Scrip Code: ULTRACEMCO

Dear Sirs

Sub: Investor Presentation for the quarter and half year ended 30th September, 2022.

Attached is an investor’s presentation on the performance of the Company for the quarter and half year ended 30th September, 2022.

The same is for your information please.

Yours very truly,

For UltraTech Cement Limited

Sanjeeb Kumar Chatterjee Company Secretary

Encl: A/a

Luxembourg Stock Exchange BP 165 / L – 2011 Luxembourg Scrip Code: US90403E1038 and US90403E2028

Singapore Exchange 11 North Buona Vista Drive, #06-07 The Metropolis Tower 2, Singapore 138589 ISIN Code: US90403YAA73 and USY9048BAA18

UltraTech Cement Limited Registered Office : Ahura Centre, B – Wing, 2nd Floor, Mahakali Caves Road, Andheri (East), Mumbai 400 093, India

T: +91 22 6691 7800 / 2926 7800 I F: +91 22 6692 8109 I W: www.ultratechcement.com/www.adityabirla.com I CIN : L26940MH2000PLC128420

UltraTech Cement Limited

Results Q2 FY23

Stock code: BSE: 532538 | NSE: ULTRACEMCO I Reuters: UTCL.NS | Bloomberg: UTCEM IS/UTCEM LX

01

Macro and Sectoral update

02

Business update

03

ESG update

04

Financial Performance

MW - Mega Watts, Q1 - April-June, Q2 - July-September, Q3 - October-December, Q4 - January-March, CY - Current Year period,

MNT - Million Metric Tons, LMT - Lakh Metric Tons, MTPA - Million Tons Per Annum,

LY - Corresponding period Last Year, FY - Financial Year (April-March)

GLOSSARY

01

Macro and Sectoral update

Rawan Cement Works, Chhattisgarh – A five-star rating is given to its Jhipan Limestone Mine which performed best on parameters such as scientific, efficient and sustainable mining, compliance of approved production, land, resettlement and other social impacts. This was awarded for FY21 at the felicitation ceremony held at the 6th National Conclave on Mines & Minerals (NCMM) on 12th July 2022 at New Delhi.

Macro Indicators

FY23 GDP growth forecast revised 20 bps lower to 7% by RBI.

September CPI rose to 7.4%, it should begin to fall October onwards with food inflation normalizes and fall in commodity prices.

Monsoon has been 6.5% above long period average. Rural demand outlook remains promising in FY23 given good rains, commodity prices and fall in MGNREGA demand.

Recent decline in oil prices will help reduce shortfall in India’s balance of payments, but capital flows could be impacted by global volatility.

4

Sectoral Update Q2 FY23

Zone

North

Central

East

West

South

Volume Gr.

I

R

H

C

Key drivers

 Infrastructure segment registered growth on account of execution of major projects  Commercial demand registered growth in Rajasthan.  Housing segment registered growth in all the regions supported by good monsoon and

cash flow from crop harvest except Punjab.

 Housing segment growth driven by IHB demand.  Infrastructure segment degrowth across all regions (excl. Kashi) due to heavy rains.

 Overall growth driven by housing & rural segments.  Infrastructure segment registered growth in West Bengal, Bihar and Jharkhand, but

degrowth in Chhattisgarh and Odisha due to sand mining ban and aggregates availability.

 Maharashtra: Infrastructure segment grew in Mumbai led by Metro & Mumbai Trans

Harbour Link (MTHL) and degrowth in other regions due to completion of major projects and heavy rains.

 Gujarat: Housing and rural segment impacted by heavy rains. Infrastructure segment

growth supported by major projects i.e., Bullet Train, Vadodara-Mumbai Expressway and Western Dedicated Freight Corridor etc.

 Housing segment growth led by affordable housing, improved expat income and

improved sand availability.

 Infrastructure segment growth supported by execution of major projects i.e. Bangalore

and Chennai Metro and Central Institutional Projects, Expressway projects etc.

I: Infrastructure, R: Rural, H: Housing, C: Commercial, IHB: Individual Housing Builder

5

02

Business update

Q2 Highlights

 Domestic sales volume grew by 10% for the quarter on yoy basis with capacity utilization of 76%.

 Operating margin dropped significantly to 14% mainly on account of higher energy costs (increased by 58% yoy) and

decline in realization.

 Commissioned cement capacity of 1.3 mtpa at Dalla Cement Works, Uttar Pradesh in this quarter, taking the total grey

cement capacity of the company to 115.85 mtpa in India.

 RMC business registered volume growth of 29% for the quarter on yoy basis.

 Premium products contributed to 18.8% of trade sales volume in Q2 FY23.

 Green power mix increased to 19.5% with WHRS capacity of 191 MW and renewable power capacity of 318 MW.

 Net Debt increased to Rs 8,357 crs from Rs 5,561 crs in Jun-22 primarily on account of increase in working capital and

growth capex.

7

Scaling up digital innovation

Manufacturing

Logistics

Customers

 Adopted Artificial Intelligence (AI) based

 Demand forecasting, Supply planning and

analytics to improve process performance and reliability, contributing to increase in alternative fuel consumption and WHRS generation.

 Power of IoT sensors and analytics is being

harnessed to improve mechanical reliability and asset monitoring.

 Use of AR/VR for training and remote

technical support, Drones for inspection, and Robots for automation.

 Advanced algorithms are under evaluation

to demonstrate further potential in productivity improvement.

network optimization.

 Order visibility, Freight bill generation.  Safety training on multi-lingual app for

better engagement with drivers.  E-bidding and digital agreements.  GPS enabled vehicles and GPS based

freight invoicing.

 Logistics Control Tower; Real time visibility of OTIF, Pending Orders, Truck availability.

 Fin Services (Ledger, Credit, Balances).  Auto truck registration in yard and

queuing.

 Fin Services (Ledger, Credit, Balances).

 Online order booking by customers.

 Online dealer on-boarding.

 Alerts, notifications and fleet tracking.

 Delivery acknowledgement.

IoT - Internet of Things, AR/VR – Augmented Reality / Virtual Reality, EPoD – Electronic Proof of Delivery, WHRS – Waste Hear Recovery System

8

New Product Launches

UltraTech Maxsheen, an amazing concrete solution that enables building artistic yet durable flooring. Maxsheen offers end-to- end customized flooring solutions – from design to on-site implementation by UltraTech experts.

UltraTech Tilefixo, to fill premium tile and marble joints. It not only protects but also enhances the stylish and unique decor.

UltraTech Corroprotect, a concrete built with a patented traversing type corrosion inhibitor (TTCI) providing up to 4X better protection against corrosion.

India’s 1st White Cement based Liquid Primer for better adhesion, whiteness and coverage

9

UltraTech continue its winning streak at various platforms with impactful brand presence

E4M’s Golden Mikes Awards for excellence in Radio Advertising 4 Golds & 1 Silver

Digital Marketing Awards for excellence in Digital Advertising 1 Gold & 1 Bronze

Marketing Awards & Industry Recognition : 61 awards in FY22, 18 awards till date in FY23 with 7 in Q2 FY23

10

03

ESG update

Spread over 52 locations in India

16

24

39

507

States

Districts

Blocks

villages

• Population reach 1.6 million

• Education Reach 0.13 million students

Environmental Product Declaration granted for four of our key cement products

Four of our key cement products have been granted Environment Product Declaration (EPD). This is a key step in our endeavor to drive sustainability in our business with a life-cycle approach.

We are committed to enabling climate change mitigation through a holistic approach of decarbonizing our operations and by innovating to develop sustainable building products and solutions.

UltraTech’s green products portfolio currently includes more than 70 GreenPro certified products

12

Accelerating Decarbonisation

 Collaboration with other global companies with a focus on Net Zero. The collaboration will provide solutions extending to digitalization, carbon capture and transition to move to 100% renewable power (RE).

 Initiated specific collaboration with Council on Energy, Environment and Water (CEEW) to study transition to 100% renewable power.

 Commissioned 5 MW WHRS and 32 MW RE power

in this quarter.

 Blended cement mix increased to 71% which helped improving clinker conversion ratio to 1.41 in this quarter.

13

Building a sustainable supply chain

Onboarding

Sustainability high risk & critical supplier identification

High risk & critical supplier ESG assessment

Supply chain risk minimization & Sustainability performance

ESG integration into Supply chain

Sustainable Supply chain performance

KPI

Coverage of Tier 1 suppliers through sustainable supply chain awareness Sessions – 25% of Tier 1 supplies are covered as targeted.

Assessment of all the critical suppliers have been completed and corrective action and guidance provided.

Developing a local supply chain ecosystem

Focus locally, even when operating from some of the remotest areas of the country. Responsible sourcing on our part also creates major gains for the communities around us as it creates employment and business opportunities and contributes locally.

11.2%

Contracts are from MSME suppliers

Procurement from local suppliers

FY20

FY21

FY22

69%

71%

79%

60%

65%

70%

75%

80%

14

Sustainable Livelihood

Gujarat Cement Works, Gujarat

Andhra Pradesh Cement Works, Andhra Pradesh

 More than 1500 women across all units imparted training in beautician course, tailoring etc and currently working as

entrepreneurs.

 More than 800 farmers trained for integrated farming model in an organic approach.

 Use of water in a sustainable way and supported with drip irrigation system to farmers.

 Training for honey-bee cultivation.

15

Social development

Baikunth Cement Works, Chhatisgarh ~1200 youth improved their skill through various development courses in the areas of electrical, diesel mechanic, welding, fabrication, Solar PV , computer skills etc in villages near the Unit.

Bela Cement Works, Madhya Pradesh

Supported to make village youth physically stronger so that they could join in Indian Security Forces.

Balaji Cement Works, Andhra Pradesh

Village infrastructure strengthened at different unit locations benefitting ~18000 people.

16

Media Coverage

17

04

Financial performance

Deoghar Airport, Jharkhand – UltraTech supplied more than 85% of the cement consumed in the project

Ahmedabad Metro, Gujarat – UltraTech supplied more than 90% of the cement consumed in the project

Sales: Q2 FY23

Grey Cement (India)

RMC White Cement

Others

Grey Cement (Overseas)

Consolidated

Volume (Mnt)

Growth (YoY)

21.75

10%

186 no. of plants

38 Nos

Revenue (₹ Crores)

11,428

883

Growth (YoY)

14%

44%

0.38

-0.2%

540

7%

284

109%

0.97

-20%

460

-8%

23.10

7%

13,596

16%

After elimination of inter company sales

19

Performance Highlights : Q2 FY23

Net Sales

EBITDA

PAT

Net Debt

YoY

QoQ

₹ Crs

+15.8%

-29.5%

-42.5%

-9.4%

-37.2%

-52.3%

13,596

2,013

756

₹ 8,357 Crs

0.77x (Net Debt / EBITDA)*

* EBITDA basis trailing 12 months.

20

Key Cost Indicators: Q2 FY23

Logistics Cost

Energy Cost

Raw Material Cost

27%

₹ 1239/t

37%

₹ 1731/t

13%

₹ 610/t

 Increased 2% YoY  Diesel prices lower by ~1%

YoY

 Increased 58% YoY  Increase in fuel prices

 Increased 18% YoY  Increase in input cost and

diesel prices

Above numbers are for Grey Cement – India

21

Logistics Cost Trend

1219

1253

1239

YoY cost increase: 2%

) t

m / . s R (

t s o c

s c i t s i g o L

Q2FY22

Q1FY23

Q2FY23

Logistics cost v/s Diesel Price Index

160

148

111

165

154

145

137

107

106

Q1 20

Q2 22

Q1 23 Q2 23

Crude Prices (Index)

Diesel Prices (index)

Logistics Cost (index)

 Inflationary increase in cost partially mitigated

by improved efficiency

QoQ cost decrease: 1%

 Average diesel prices lower by 5% on QoQ basis

Above numbers are for Grey Cement – India

22

Raw Material Cost Trend

) t

m / . s R (

t s o c

l

a i r e t a M w a R

577

610

YoY cost increase: 18%

518

 Increase in cost of raw material; fly ash, slag and

gypsum

Q2FY22

Q1FY23

Q2FY23

Conversion Ratio and Fly ash Price Index

120

QoQ cost increase: 6%

109

111

 Inflationary increase in cost of raw material due

103

104

105

to monsoon

Q1 20

Q2 22

Q1 23 Q2 23

Conversion Ratio Index (Clinker to cement)

Flyash Price Index

Above numbers are for Grey Cement – India

23

Energy Cost Trend

1573

1731

YoY cost increase: 58%

1099

) t

m / . s R (

t s o c

y g r e n E

Q2FY22

Q1FY23

Q2FY23

Energy cost v/s Pet coke Price Index

149

109

Q2 22

243

236

171

156

Q1 23 Q2 23

Pet coke Price (Index)

Energy Cost (Index)

Q1 20

 Blended fuel prices of USD 200/t compared to

USD 120/t in LY Q2

 Petcoke consumption at 40% vs 19% in LY Q2

QoQ cost increase: 10%

 Blended fuel prices of USD 200/t compared to

USD 184/t in Q1

Above numbers are for Grey Cement – India

24

Other Costs Trend

801

740

859

YoY cost increase: 7%

) t

m / . s R (

t s o c

r e h t O

Q2FY22

Q1FY23

Q2FY23

WPI Index

126

126

111

Q1 20

Q2 22

Q1 23 Q2 23

 Inflationary increase in plant maintenance cost  Preponed shutdown work  Annual increase in employee cost

QoQ cost increase: 16%

 Lower operating leverage due to lower volume

in monsoon period

 Higher plant maintenance in the current quarter  Normal increase in employee cost wef Q2

25

Financial Performance : Q2 FY23

Consolidated

Q2 FY23

13,596

297 146

Q2 FY22

11,743

274 140

14,039

12,157

Particulars

Net Sales ^

Operating Income Other Income

Total Income Expenses:

2,004

325

(312) 691 4,296 3,044 1,977

2,013 819

1,731

215

(217) 680 2,520 2,673 1,699

2,855 1,253

Raw Materials Consumed

Purchase of Traded Goods

Changes in Inventory Employee Costs Power and Fuel Logistics Cost Other Expenses

EBITDA Operating EBITDA per ton

₹ Crores

India Operations

Q2 FY23 13,176

271 119

Q2 FY22 11,242

286 142

13,565

11,670

1,984

259

(288) 660 4,103 3,013 1,910

1,926 812

1,492

201

(213) 646 2,410 2,648 1,637

2,849 1,324

^After elimination of inter company sales

26

Income Statement : Q2 FY23

Consolidated

Q2 FY23

Q2 FY22

Particulars

₹ Crores

India Operations

Q2 FY23

Q2 FY22

13,596

2,013

200

708

344

3

756

173.1

11,743

Net Sales ^

2,855

EBITDA

Finance Costs

Depreciation and Amortization

Tax expenses

Minority interest

PAT

230

677

637

(3)

1,314

222.4

13,176

1,926

187

679

333

0

727

11,242

2,849

225

649

646

0

1,328

219.8

EPS (₹) (basis trailing 12 months and before exceptional items)

169.3

^After elimination of inter company sales

27

Cash Flow Statement India Operations : Q2 FY23

Particulars

PBIDT

Less : Interest & Lease

Less : Tax

Less : Increase in Working Capital

Operating Cash Flow

Less : Capex

Free Cash Flow to Firm

₹ Crores

Amount

1,926

(197)

(315)

(1,156)

257

(1,509)

(1,251)

28

Disclaimer

Statements in this ‘presentation’ describing the Company’s objectives, estimates, expectations or predictions may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make difference to the Company’s operations include global and Indian demand supply conditions, finished goods prices, feedstock availability and prices, cyclical demand and pricing in the Company’s principal markets, changes in governmental regulations, tax regimes, economic developments within India and the countries within which the Company conducts business and other factors such as litigation and labour negotiations. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statement, due to any subsequent development, information or events, or otherwise.

UltraTech Cement Limited Regd. Office: Ahura Centre, Mahakali Caves Road, Andheri (E), Mumbai – 400 093 [Corporate Identity Number L26940MH2000PLC128420]

www.ultratechcement.com or www.adityabirla.com investorrelations.utcl@adityabirla.com

29