ULTRACEMCONSE28 February 2023

UltraTech Cement Limited has informed the Exchange about Investor Presentation

UltraTech Cement Limited

28th February, 2023

BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001. Tel.: 22721233/4 Fax: 022 2272 2039 Scrip Code: 532538

Dear Sirs,

The Manager Listing Department The National Stock Exchange of India Limited “Exchange Plaza”, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051. Tel.: 26598236 Fax: 2659 8237 / 38. Scrip Code: ULTRACEMCO

Sub: Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Corporate Dossier

In terms of the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the Corporate Dossier of the Company. This is also being uploaded on the website of the Company.

This is for your information and records, please.

Thanking you,

Yours faithfully, 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

BIG IN YOUR LIFE

STOCK CODE: BSE: 532538 NSE: ULTRACEMCO REUTERS: UTCL.NS BLOOMBERG: UTCEM IS / UTCEM LX

Contents

Aditya Birla Group Overview

Indian Cement Sector

UltraTech Landscape

Operational and Financial Performance

GLOSSARY: MNT – Million Metric Tons, LMT – Lakh Metric Tons, MTPA – Million Tons Per Annum, MW – Mega Watts, Q1 – April-June, Q2 – July-September,

Q3 – October-December, Q4 – January -March, CY – Current Year period, LY – Corresponding period Last Year, FY – Financial Year (April-March)

Aditya Birla Group - Overview

PREMIUM GLOBAL

CONGLOMERATE

USD ~60 billion* Corporation

In the League of Fortune 500

Operating in 6 continents and 36 countries

with ~50% Group revenues from overseas

Anchored by 140,000 employees from over 100

nationalities

AON best employer in India for 2018

One of the top employers in manufacturing in India as

per the Forbes World’s Best Employers 2020

◼ # 1 cement player in India ◼ 3rd largest cementplayer

globally (ex - China)

◼ # 2 in VSF globally

◼ # 1 in chlor-alkali inIndia

◼ A global metal powerhouse ◼ # 1 in aluminum rolling globally

◼ Top fashion and lifestyle

player in India

◼ Iconic brands across the

fashion and retail segment

◼ A leading financial services

player

◼ AUM ~ USD49bn

◼ # 1 producer of noble ferro

alloys in India

◼ Amongst the top private players in mining of coal and other minerals

◼ # 2 in carbon black globally

◼ A trans-national bulk commodity trading solutions provider globally

◼ Leading telecom player

in India

OUR VALUES - INTEGRITY • COMMITMENT • PASSION • SEAMLESSNESS • SPEED

*As on 31st March, 2022

UltraTech Cement

India’s Largest Selling CementBrand 3rd largest cementplayer globally (ex - China)

Largest RMC manufacturer in India with 200+ plants

Market Capof ~USD 24bn*

FY22 ConsolidatedRevenue ~USD 7.1 bn

Different Products to provide complete Building Solutions 3302 stores

Leading Player of White Cement and Cement based Putty

~1.9 bn bags of cement every year

~78,000 + Direct and Indirect

Employees

* As on 31st December, 2022

Building the Sustainable Future

Enhanced Stakeholder Value

VISION

To be The Leader in Building Solutions

Innovation

Sustainability

MISSION

To deliver superior valueto stakeholders on the four pillarsof

Team Empowerment

Customer Centricity

h t w o r g e b a t i f o r P

r e d a e

t e k r a M

s l a i c n a n i f g n o r t S

d n a r b m u m e r P

e b i s n o p s e r y l l

a i c o S

Sustainable Value Creation

Diversified product portfolio catering a full suite of building solutions

Conventional: Positioning cement at the core of all construction

Building solutions

Contemporary: Providing an umbrella of related construction products and services

Current capacity 126.75 MTPA

Leading player in India

200+ RMC plants in 92 cities

3,302 outlets in 22 States

Range of >50 products

1st Cement plant set up in 1983

Grey Cement

White Cement: 1988 White Putty : 2001

White Cement

Ordinary Portland Cement, Portland blast-furnace slag Cement, Portland Pozzolana Cement, Portland Composite Cement

Portfolio of white cement, white putty, VAPS Textura, Levelplast, pre-cote and fragrance putty

Tailor made concrete solutions with 25 specialty concretes based on application

2007

Building Products

2012

1998

Building Solutions

Ready mix Concrete

One-stop building solutions for the retail customer

Portfolio of building solution products such as plasters and mortars, tile adhesive, waterproofing products etc.

Grey Cement: Balanced growth through organic and inorganic expansion

Capacity evolution (In mtpa)

Organic

Inorganic

1.0 1.0

9.6 1.1

8.5

1983

1999

31.0

18.0

13.0

2004

35.0

18.0

17.0

2008

121.3

68.9

52.4

51.8

20.0

31.8

67.7

24.8

42.9

2011

2016

2022

1.0 mtpa ◼ 1st cement plant set up for Grasim (Vikram Cement) and Indian Rayon (Rajashree Cement)

8.5 mtpa ◼ Merger of Indian Rayon and Grasim Cement business

31.0 mtpa

◼ Acquisition of L&T Business

Cement (17mtpa)

◼ Listing of UltraTech as part of acquisition

121.3 mtpa ◼ Acquisition of Jaypee Cement (21.2 mtpa), Binani Cement (6.25 mtpa), Century Cement (14.6 mtpa)

◼ Organic Capacity addition: 8.2 mtpa ◼ 3rd largest global cement player by capacity (ex. China)

51.8 mtpa ◼ Organic Capacity addition:15 mtpa ◼ Group Cement business under one

roof

◼ Acquisition of Star Cement: 3 mtpa

2019- 2022

2016

2011

67.7 mtpa

1983-88

1998

2008

2004

35.0 mtpa ◼ Focus on Cost Leadership between 2005-2009 ◼ Synergy of Cement Business of ABG under one roof ◼ Investments in TPPs – 80% power self-sufficient

Note: 1 Incremental capacity from Mar-16 to March 22

Birla White: Building a Robust Portfolio

Products Range

1988 White Cement

2001 White Putty

2002-2006 Launch of VAPs,

Textura, Levelplast

2012-2014 Launch of Pre-cote,

New Putty Facility

2018-2022 Launch of VAPs

Fragrance Putty

Waterproof/Bioshield putty

White cement based liquid primer

UltraTech RMC

Product offering based on the requirement

Performance

based Concrete

Usage based

Concrete

Decorative Concrete

Green Concrete

Revenues of ~Rs 2,600 crs and consumed 1.5 mln mt of Grey Cement in FY22

200+ RMC plants addressing national demand

◼ UltraTech is the first commercial RMC manufacturer in the country to

adopt concrete recycling technology.

◼ UltraTech is India’s first company to meet the requirement of LEED (Leadership in Energy and Environmental Design) and other green building rating systems as recognised by the Indian Green Building Council.

◼ UltraTech White Topping, an efficient and durable solution for urban roads. A concrete overlay that transforms pothole ridden tar roads in just 2 weeks.

UltraTech Building Solutions

One-stop building solution for the retail customer

3,302 UltraTech Building Solutions outlets

Helps to increase the share of customer wallet to 60% +

Benefits for Home Builders

◼ Convenience, trust empowerment

Benefits for Dealers

◼ Increase in earning capacity

◼ Better fit with aspirations of new generation

Business partners at UltraTech Building Solutions stores

Services through UBS Outlets

New Product Launches

Tiles

Electricals

Power and Hand Tools

Sanitary and Fittings

Rain Water Harvesting

Wood Ply

UltraTech Building Products

Dry Mix Mortars

Plasters & Mortars

Adhesives & Sealants

Flooring

Repair & Rehabilitation

Waterproofing

Synergy

◼ In line with our vision ‘To be THE LEADER in Building Solutions’

◼ Forward integration of the cement business

◼ Value-added products

Portfolio breadth and depth

◼ Range of ~50 products ◼ 10+ variants across

categories

Environment friendly

◼ Environment

(M-Sand

helping conserve sand beds; less water needed in curing)

◼ Society (Homogenous end

product; batchwise consistency; IS&EN standards-compatible; construction speed faster; material and cost savings; skill training for masons / contractors

◼ Economics (Helping channel

partners and masons/ contractors in increasing earnings)

◼ Certification (Certified as per Indian Green Building Council standards)

Liquid Waterproofing

Cementitious Waterproofing

Board of Directors (Independent Directors)

Arun Adhikari IndependentDirector

◼ Alumni of the Indian Institute of Technology, Kanpur and the Indian Institute of Management, Calcutta

◼ Areas of expertise - sales and marketing, culminating in general management and leadership roles

Alka Bharucha IndependentDirector

Court of England andWales

◼ Co-founded Bharucha & Partners in 2008

◼ Masters in Law from the University of Bombay and University of London and Solicitor High Court Mumbai and Supreme

S.B. Mathur IndependentDirector

SukanyaKripalu IndependentDirector

Sunil Duggal IndependentDirector

◼ Core areas of expertise are mergers and acquisitions, joint ventures, private equity, banking and finance

◼ Chartered Accountant by profession

◼ Served as the Chairman of the Life Insurance Corporation of India from August, 2002 to October, 2004

◼ Has held Trusteeships, Advisory / Administrative Roles on Government Bodies, Authorities and Corporations

◼ Graduate from St. Xavier’s College and the Indian Institute of Management, Calcutta.

◼ Consultant in the fields of marketing, strategy, advertising and market research.

◼ Bachelor of Technology Hons. (Electrical Engineering) and post graduate diploma in Business Management (Marketing)

from the Indian Institute of Management, Calcutta

◼ Served as CEO of the FMCG major Dabur Limited for 17 years from 2002 till 2019

◼ Chaired and co-chaired numerous committees such as Indo-Turkish JBC and FICCI Committee on Food processing

Board of Directors

◼ Chairman of the Aditya Birla Group since 1995

Kumar MangalamBirla Chairman

◼ Chairs the Boards of all the Aditya Birla Group’s major companies in India (Hindalco, Grasim, Aditya Birla Capital and UltraTech Cement) and globally; Global companies include Novelis, Birla Carbon, Aditya Birla Minerals, Aditya Birla Chemicals, Domsjö Fabriker and Terrace Bay Pulp Mill

◼ Professionally a Chartered Accountant and an MBA from London Business School

Rajashree Birla Non-ExecutiveDirector

K.K. Maheshwari Vice Chairman and Non-Executive Director

K. C. Jhanwar Managing Director

Atul Daga Whole time Director and Chief FinancialOfficer

◼ Director on the board of Hindalco and Grasim

◼ Chairperson of the Aditya Birla Centre for Community Initiatives and Rural Development

◼ Chartered Accountant and has held a variety of roles in the Aditya Birla Group

◼ Brought in strong execution rigor to his work and has considerably strengthened both innovation and new products

development

◼ Scripted the growth of the Aditya Birla Group’s VSF Business towards a more competitive and sustainable model

◼ Chartered Accountant with over 40 years experience of which 39 years is with the Aditya Birla Group

◼ Operations and General Management across the Cement and Chemicals Business of the Aditya Birla Group, including

greenfield and brownfield expansions

◼ Chartered Accountant with over 33 years experience, of which over 28 years have been with the Aditya Birla Group ◼ Key responsibilities include risk management, audit and compliance, planning, treasury, capital structuring and capital

allocation

◼ Instrumental in M&A deals worth $ 5 bn, portfolio restructuring bringing sharper focus and setting new benchmarks for

raising long term borrowings in the domestic and global market, set-up 700 seats shared service centre

Management Team

Vivek Agarwal Chief Marketing Officer

◼ A BE (Hons.) in Mechanical and an MBA from FMS, Delhi. He has done his AMP from Wharton ◼ He has an overall experience of over 37 years and with the Group for 28 years. ◼ A veteran with the Cement Business of the Group, he has played a key role in the Post-Merger Integrations and Brand

Transitions of acquired units.

◼ Played key role in growing Ready Mix Concrete Business, UltraTech Building Solution Retail Outlets and Building Product

Division of the Company.

ER Raj Narayanan Chief Manufacturing Officer

◼ A chemical engineer with more than 36 years of experience in chemical / specialty chemicals and industrial gases segments

◼ He has worked in Chlor Alkali and Viscose Filament Yarn businesses. Apart from India, he has also led the manufacturing

businesses based out of Thailand and China

Ramesh Mitragotri Chief Human Resource Officer

◼ A postgraduate in PM and IR, he brings with him over 34 years of experience, with organizations like Owens Corning, HCC

Limited and Philips India in different roles of human resources management

◼ He has worked in the Retail and Chemical businesses of the Group along with a small stint in cement business as Head –HR

Marketing

Ashish Dwivedi CEO – Birla White

◼ A chemical engineer and MBA, has been with the group for over 23 years. He has been an integral part of several strategic

initiatives including mergers and acquisitions, restructuring and building up of Group processes

◼ Prior to this he was President of Speciality Chemicals and Business Strategy for Chemical, Fertilizer and Insulator sector of the Group. He built the downstream speciality chemicals business across multiple products and was responsible for upstream salt business

Shareholding Pattern

6 1

As on 31st December, 2022

Promoter Group

Foreign Portfolio Investors (FPI) and Others

Mutual Fund (MF), Institutions, Insurance and Bodies Corporate

Other Public Holding

GDRs

Key Foreign Portfolio Investors (FPI)

Name

The Vanguard Group*

Aberdeen Asset Management*

Ishares*

Fidelity Investments*

Kuwait Investment Authority Fund

Total FPI holding

Others

Total

*Multiple schemes

Key Domestic Mutual Funds, Insurance and Institutional Investors

Holding (%)

Name

Holding (%)

1.57

0.99

1.00

0.85

14.11

0.88

14.99

Life Insurance Corporation of India*

ICICI Prudential Mutual Fund*

SBI Mutual Fund*

Kotak Mutual Fund*

Total Domestic Mutual Funds and Institutions

Body Corporate and Others

Total

2.99

2.18

2.28

1.67

17.27

1.03

18.30

Indian Cement Sector

Indian Cement Industry - Overview

India is the second largest cement producer in the world…

Global cementproduction

…but remains a highly underpenetrated market

(per capita cement consumption in kg)

1650-1700

Source : Industry estimates, Research reports

World average : 500-550

300-320

280-300

280-300 280-300

240-250

Standalone local market sizes comparable to key cement producing countries

Latest Cement Capacity (mtpa)1

North India: ~111 mtpa

Brazil: ~100 mtpa

East India: ~121 mtpa

Vietnam: ~119 mtpa

Central India: ~75 mtpa Mexico: ~60 mtpa

West India: ~79 mtpa

Italy + Germany: ~79 mtpa

South India: ~176 mtpa

Thailand + Indonesia: ~168 mtpa

Source: CRISIL Research; 1 CY2019 for global countries and FY22 for India and Industry Estimates

All segments indicating a positive demand environment

Industrial & Commercial ~ 11-12%

Urban Housing ~24-26%

Infrastructure ~26-27%

Segmental mix in Demand (FY22)

Rural Housing ~35-37%

Sectoral demand growth CAGR: FY22-FY27

Industrial & Commercial

~5-6%

Urban Housing

Rural Housing

Infrastructure

~7-8%

~8-9%

Demand growth largely supported by Government spending and improved outlook for the real estate industry

Source : Industry estimates, Research reports

Union Budget 2023 Highlights

Agriculture credit target increased from 18 lakh crs to 20 lakh crs.

Capital outlay of Rs 2.4 lakh crs for Railways vs Rs 1.37 lakh crs in FY23.

The outlay for PM Awas Yojana (PMAY) is being enhanced by 66 % to over Rs 79,000 crs, continue support to affordable housing with more allocation particularly to rural.

Urban planning reforms for states and cities to transform them into ‘Sustainable cities of tomorrow. Urban Infrastructure Development Fund to be established with Rs 10,000 crs per annum

Capital investment outlay is being increased steeply for the third year in a row by 33% to Rs 10 lakh crs, and effective capital outlay also increases by 33% to Rs 13.5 lakh crs.

100 critical transport infrastructure project to receive investment of Rs 75,000 crs.

50 additional airports, heliports, aerodromes and advanced landing zones.

Financial assistance of Rs 5,300 crs allotted for sustainable micro irrigation in drought prone region of Karnataka.

UltraTech Landscape

UltraTech - India Footprint

◼ 24 Integrated Units1 (IU)

◼ 28 Grinding Units2 (GU)

◼ 8 Bulk Packaging Terminals3 (Sea + Rail)

◼ 1 White Cement & 3 Putty Unit

◼ 5 Jetties

Grey Cement Capacity (mtpa)

Zones

North

Central

East

West

South

All India

Overseas

Total

UTCL Capacity As on December’22

25.7

28.4

17.4

29.5

20.5

121.4

5.4

126.8

UTCL Mix

21%

23%

14%

24%

17%

100%

Industry Capacity

UTCL Sharein Industry

~111

~75

~121

~79

~176

~562

23%

38%

14%

37%

12%

22%

UTCL Integrated Unit

UTCL Grinding Unit

UTCL Bulk Terminals

Jetty

White Cement & PuttyUnits

Map is used only for representation purpose

Source: Industry estimates Note: 1 23 in India and 1 clinkerization unit in Overseas; 2 24 in India and 4 in Overseas; 3 7 in India and 1 in Overseas

UltraTech – Contributing to build a strong nation

Grey Cement Capacity (mtpa)

Zones

Mar-20

Phase I Expansion

Phase II Expansion

Mar-25

North

Central

East

West

South

23.8

23.3

16.2

27.7

20.5

2.7

5.1

10.3

1.8

0.0

4.4

7.3

5.2

0.0

5.7

30.9

35.7

31.7

29.5

26.2

All India

111.35

19.90

22.60

153.85

Grey cement capacity (Mtpa) – India

Grey cement capacity of 153.85 Mtpa at 57 locations (IU/GU/BT) by Mar-25 in India

End-to-end capabilities with integrated operations

Strong manufacturing capability with control over supply chain

Raw material

Captive power generation

Production Capacity

Limestone ◼ Key input for manufacturing cement ◼ 100% sourcing from captive mines ◼ Long-term leases

Pet coke/coal, gypsum, iron ore, fly ash, iron slag ◼ Procured from open market ◼ Easy availability ◼ No supplier concentration ◼ Low criticality

◼ Captive power plant generates 1,188 MW of

Particulars

power

◼ WHRS1 + windmill + solar: 532 MW

Grey Cement (Including Overseas) White Cement + Wall Care Putty

UOM

Current

mtpa

126.8

mtpa

2.0

RMC

Mn. Cub. Mtr

25.0

Note: All metrics as of 31st December, 2022; 1 WHRS - Waste Heat Recovery System

Nationwide reach with strong logistics presence across India

Jetty

Sea routes

Integrated model

Integrated Unit

Grinding Unit

Bulk Terminals

Jetty

Inland water transport

One of the few cement companies in India to utilize captive jetties to service coastaldemand

Transportation Mix Sea 2%

Select rail / road routes

Sea routes

Railways

26%

Map is used only for representation purpose

Roads

71%

~5.0 mn bags dispatched per day in India (FY22)

> 30,000 destinations

~61% lifting by GPS enabled fleet

~30,000+ orders processed daily

~9,000+ trucks loaded per day

>42% Dedicated fleet

6 Specialized Carriers

4 Mini Bulk Carriers and 1 Coal Ship

40+ Rakes a day

~ 110,000 + Channel Partners

1300+Warehouses 260+ Railheads

Mix of Transportation Road Rail

Sea

Extensive Technical Support to the Distribution Network

◼ Over 1,600 personnel deployed to provide technical support to home builders, engineers, architects, contractors

◼ Mobile concrete vans providing on-site testing, civil engineering, tips and advisories

Homebuilders ▪

Provides construction tips, virtual tools, Vastu advisory

Mason’s program

▪

Includes site demo, meets, plant visits and training Builders and Contractors Meet and education seminars and programs

▪ On-site concrete plants covering over

▪

2,600 construction sites

Engineers/architects

▪

Engages engineers and architects through technical meets, workshops and plant visits

Contractors ▪

Engages contractors and builders through meets, plant visits

Digitally connected

◼ Platform to engage with dealers,

retailers, masons, contractors,

architects

◼ Instant access to latest information

◼ Homebuilder tips and videos

◼ Updates on events and contests

◼ One UltraTech: Easy ordering and real time tracking,

single view of data across various parameters

◼ UltraTech - Prashikshan Pahal: To provide basic

knowledge about construction procedures, materials and tools for all, especially fo r masons

◼ Utec: Access to all home building information

regarding planning, designing, construction and finishing homes

◼ Utec Partners: Enables partners to connect with

home builders to grow their business

ESG at UltraTech

Progressing towards our sustainability targets

Climate and Energy

CO2 R e d u c e d

[kg CO2/t cement]

Circular Economy

WASTE R e c y c l e d

[MnT]

Environment

Green Energy

WATER P o s i t i v e

[Times]

Green Power Capacity [MW]

ESG Metric

FY22 Performance*

582

-2%

24.1

+16%

3.8x

-4%

WHRS : 167 ^ Renewable : 269 ^

+47%

* % changes are with respect to YoY comparison ^ WHRS - 208 MW and Renewable power – 325 MW as on 31st Dec, 2022

Carbon Emission reduction

Scope 1 Carbon Emission reduction

Target 2032 27%

Achieved till 2022 7%

Specific Net Direct GHG emissions

2016-17

2020-21

2021-22

2031-32

Key Steps leading to reduction in emissions

Increase in alternative fuel and clean energy

Adoption of emerging technologies

27%

Increase in share of blended cement

2016-17

2020-21

2021-22

…

2031-32

Energy productivity (EP100)

GCCA Climate Ambition 2050

Adoption of TCFD and Internal carbon price

Board Structure and Compliance

Shareholders

Board of Directors

Independent Directors

50%

Nomination, Remuneration and Compensation

Audit

Stakeholders Relationship

Woman Directors

30%

Finance

Risk Management and Sustainability

Corporate Social Responsibility

Board Attendance

>90%

Executive Management

Committee Attendance

>95%

Organization

Average tenure of the Directors on our Board - ~9 years

Policies governing our business

Sustainability Policy

11. Anti-Harassment and discrimination policy

Code of Conduct

Tax Policy

12.

Supplier Code of Conduct

13. Human Rights Policy

Policy on Related Party Transaction

14.

Safety Policy

5. Whistleblower Policy

15. Occupational Health Policy

CSR Policy

16.

Energy and Carbon Policy

Board Diversity Policy

17. Water Stewardship Policy

8. Dividend Distribution Policy

18. Biodiversity Policy

Internal Audit Charter

19.

Stakeholder Engagement Policy

10.

Anti-Corruption and Bribery policy

20. Cyber security policy

Financial Statistics

Key Performance Trends - Consolidated

Grey Cement Sales (Million Tonnes) and Capacity Utilisation (%)

Net Sales (Rs Crs)

92.53

77%

84.64

81.81

85.10

73%

70% 70%

76% 76% 75%

51.33 52.40

48.18

71%

63.28

95.00

85.00

75.00

65.00

55.00

45.00

35.00

25.00

15.00

90%

85%

80%

75%

70%

65%

60%

55%

50%

45%

40%

54293.40 54184.81 54076.23 53967.64 53859.05 53750.47 53641.88 53533.29 53424.71 53316.12 53207.53 53098.95 52990.36 52881.77 52773.18 52664.60 52556.01 52447.42 52338.84 52230.25 52121.66 52013.08 51904.49 51795.90 51687.32 51578.73 51470.14 51361.56 51252.97 51144.38 51035.80 50927.21 50818.62 50710.04 50601.45 50492.86 50384.28 50275.69 50167.10 50058.51 49949.93 49841.34 49732.75 49624.17 49515.58 49406.99 49298.41 49189.82 49081.23 48972.65 48864.06 48755.47 48646.89 48538.30 48429.71 48321.13 48212.54 48103.95 47995.37 47886.78 47778.19 47669.61 47561.02 47452.43 47343.84 47235.26 47126.67 47018.08 46909.50 46800.91 46692.32 46583.74 46475.15 46366.56 46257.98 46149.39 46040.80 45932.22 45823.63 45715.04 45606.46 45497.87 45389.28 45280.70 45172.11 45063.52 44954.94 44846.35 44737.76 44629.17 44520.59 44412.00 44303.41 44194.83 44086.24 43977.65 43869.07 43760.48 43651.89 43543.31 43434.72 43326.13 43217.55 43108.96 43000.37 42891.79 42783.20 42674.61 42566.03 42457.44 42348.85 42240.27 42131.68 42023.09 41914.50 41805.92 41697.33 41588.74 41480.16 41371.57 41262.98 41154.40 41045.81 40937.22 40828.64 40720.05 40611.46 40502.88 40394.29 40285.70 40177.12 40068.53 39959.94 39851.36 39742.77 39634.18 39525.60 39417.01 39308.42 39199.83 39091.25 38982.66 38874.07 38765.49 38656.90 38548.31 38439.73 38331.14 38222.55 38113.97 38005.38 37896.79 37788.21 37679.62 37571.03 37462.45 37353.86 37245.27 37136.69 37028.10 36919.51 36810.93 36702.34 36593.75 36485.16 36376.58 36267.99 36159.40 36050.82 35942.23 35833.64 35725.06 35616.47 35507.88 35399.30 35290.71 35182.12 35073.54 34964.95 34856.36 34747.78 34639.19 34530.60 34422.02 34313.43 34204.84 34096.26 33987.67 33879.08 33770.49 33661.91 33553.32 33444.73 33336.15 33227.56 33118.97 33010.39 32901.80 32793.21 32684.63 32576.04 32467.45 32358.87 32250.28 32141.69 32033.11 31924.52 31815.93 31707.35 31598.76 31490.17 31381.59 31273.00 31164.41 31055.82 30947.24 30838.65 30730.06 30621.48 30512.89 30404.30 30295.72 30187.13 30078.54 29969.96 29861.37 29752.78 29644.20 29535.61 29427.02 29318.44 29209.85 29101.26 28992.68 28884.09 28775.50 28666.92 28558.33 28449.74 28341.15 28232.57 28123.98 28015.39 27906.81 27798.22 27689.63 27581.05 27472.46 27363.87 27255.29 27146.70 27038.11 26929.53 26820.94 26712.35 26603.77 26495.18 26386.59 26278.01 26169.42 26060.83 25952.25 25843.66 25735.07 25626.48 25517.90 25409.31 25300.72 25192.14 25083.55 24974.96 24866.38 24757.79 24649.20 24540.62 24432.03 24323.44 24214.86 24106.27 23997.68 23889.10 23780.51 23671.92 23563.34 23454.75 23346.16 23237.58 23128.99 23020.40 22911.81 22803.23 22694.64 22586.05 22477.47 22368.88 22260.29 22151.71 22043.12 21934.53 21825.95 21717.36 21608.77 21500.19 21391.60 21283.01 21174.43 21065.84 20957.25 20848.67 20740.08 20631.49 20522.91 20414.32 20305.73 20197.14 20088.56 19979.97 19871.38 19762.80 19654.21 19545.62 19437.04 19328.45 19219.86 19111.28 19002.69 18894.10 18785.52 18676.93 18568.34 18459.76 18351.17 18242.58 18134.00 18025.41 17916.82 17808.24 17699.65 17591.06 17482.47 17373.89 17265.30 17156.71 17048.13 16939.54 16830.95 16722.37 16613.78 16505.19 16396.61 16288.02 16179.43 16070.85 15962.26 15853.67 15745.09 15636.50 15527.91 15419.33 15310.74 15202.15 15093.57 14984.98 14876.39 14767.80 14659.22 14550.63 14442.04 14333.46 14224.87 14116.28 14007.70 13899.11 13790.52 13681.94 13573.35 13464.76 13356.18 13247.59 13139.00 13030.42 12921.83 12813.24 12704.66 12596.07 12487.48 12378.90 12270.31 12161.72 12053.13 11944.55 11835.96 11727.37 11618.79 11510.20 11401.61 11293.03 11184.44 11075.85 10967.27 10858.68 10750.09 10641.51 10532.92 10424.33 10315.75 10207.16 10098.57 9989.99 9881.40 9772.81 9664.23 9555.64 9447.05 9338.46 9229.88 9121.29 9012.70 8904.12 8795.53 8686.94 8578.36 8469.77 8361.18 8252.60 8144.01 8035.42 7926.84 7818.25 7709.66 7601.08 7492.49 7383.90 7275.32 7166.73 7058.14 6949.56 6840.97 6732.38 6623.79 6515.21 6406.62 6298.03 6189.45 6080.86 5972.27 5863.69 5755.10 5646.51 5537.93 5429.34 5320.75 5212.17 5103.58 4994.99 4886.41 4777.82 4669.23 4560.65 4452.06 4343.47 4234.89 4126.30 4017.71 3909.12 3800.54 3691.95 3583.36 3474.78 3366.19 3257.60 3149.02 3040.43 2931.84 2823.26 2714.67 2606.08 2497.50 2388.91 2280.32 2171.74 2063.15 1954.56 1845.98 1737.39 1628.80 1520.22 1411.63 1303.04 1194.45 1085.87 977.28 868.69 760.11 651.52 542.93 434.35 325.76 217.17 108.59 0.00

51708

44239

41052

41781

30541

24056

24880

25092

FY 15 FY 16 FY17 FY 18 FY 19 FY 20 FY21 FY 22

FY 15

FY 16

FY17

FY 18

FY 19

FY 20

FY21

FY 22

Key Performance Trends - Consolidated

EBIDTA (Rs Crs)

Normalised PAT (Rs Crs)

12302 12022

9898

7807

6734

5365

5861

4776

13000.00 12978.00 12956.00 12934.00 12912.00 12890.00 12868.00 12846.00 12824.00 12802.00 12780.00 12758.00 12736.00 12714.00 12692.00 12670.00 12648.00 12626.00 12604.00 12582.00 12560.00 12538.00 12516.00 12494.00 12472.00 12450.00 12428.00 12406.00 12384.00 12362.00 12340.00 12318.00 12296.00 12274.00 12252.00 12230.00 12208.00 12186.00 12164.00 12142.00 12120.00 12098.00 12076.00 12054.00 12032.00 12010.00 11988.00 11966.00 11944.00 11922.00 11900.00 11878.00 11856.00 11834.00 11812.00 11790.00 11768.00 11746.00 11724.00 11702.00 11680.00 11658.00 11636.00 11614.00 11592.00 11570.00 11548.00 11526.00 11504.00 11482.00 11460.00 11438.00 11416.00 11394.00 11372.00 11350.00 11328.00 11306.00 11284.00 11262.00 11240.00 11218.00 11196.00 11174.00 11152.00 11130.00 11108.00 11086.00 11064.00 11042.00 11020.00 10998.00 10976.00 10954.00 10932.00 10910.00 10888.00 10866.00 10844.00 10822.00 10800.00 10778.00 10756.00 10734.00 10712.00 10690.00 10668.00 10646.00 10624.00 10602.00 10580.00 10558.00 10536.00 10514.00 10492.00 10470.00 10448.00 10426.00 10404.00 10382.00 10360.00 10338.00 10316.00 10294.00 10272.00 10250.00 10228.00 10206.00 10184.00 10162.00 10140.00 10118.00 10096.00 10074.00 10052.00 10030.00 10008.00 9986.00 9964.00 9942.00 9920.00 9898.00 9876.00 9854.00 9832.00 9810.00 9788.00 9766.00 9744.00 9722.00 9700.00 9678.00 9656.00 9634.00 9612.00 9590.00 9568.00 9546.00 9524.00 9502.00 9480.00 9458.00 9436.00 9414.00 9392.00 9370.00 9348.00 9326.00 9304.00 9282.00 9260.00 9238.00 9216.00 9194.00 9172.00 9150.00 9128.00 9106.00 9084.00 9062.00 9040.00 9018.00 8996.00 8974.00 8952.00 8930.00 8908.00 8886.00 8864.00 8842.00 8820.00 8798.00 8776.00 8754.00 8732.00 8710.00 8688.00 8666.00 8644.00 8622.00 8600.00 8578.00 8556.00 8534.00 8512.00 8490.00 8468.00 8446.00 8424.00 8402.00 8380.00 8358.00 8336.00 8314.00 8292.00 8270.00 8248.00 8226.00 8204.00 8182.00 8160.00 8138.00 8116.00 8094.00 8072.00 8050.00 8028.00 8006.00 7984.00 7962.00 7940.00 7918.00 7896.00 7874.00 7852.00 7830.00 7808.00 7786.00 7764.00 7742.00 7720.00 7698.00 7676.00 7654.00 7632.00 7610.00 7588.00 7566.00 7544.00 7522.00 7500.00 7478.00 7456.00 7434.00 7412.00 7390.00 7368.00 7346.00 7324.00 7302.00 7280.00 7258.00 7236.00 7214.00 7192.00 7170.00 7148.00 7126.00 7104.00 7082.00 7060.00 7038.00 7016.00 6994.00 6972.00 6950.00 6928.00 6906.00 6884.00 6862.00 6840.00 6818.00 6796.00 6774.00 6752.00 6730.00 6708.00 6686.00 6664.00 6642.00 6620.00 6598.00 6576.00 6554.00 6532.00 6510.00 6488.00 6466.00 6444.00 6422.00 6400.00 6378.00 6356.00 6334.00 6312.00 6290.00 6268.00 6246.00 6224.00 6202.00 6180.00 6158.00 6136.00 6114.00 6092.00 6070.00 6048.00 6026.00 6004.00 5982.00 5960.00 5938.00 5916.00 5894.00 5872.00 5850.00 5828.00 5806.00 5784.00 5762.00 5740.00 5718.00 5696.00 5674.00 5652.00 5630.00 5608.00 5586.00 5564.00 5542.00 5520.00 5498.00 5476.00 5454.00 5432.00 5410.00 5388.00 5366.00 5344.00 5322.00 5300.00 5278.00 5256.00 5234.00 5212.00 5190.00 5168.00 5146.00 5124.00 5102.00 5080.00 5058.00 5036.00 5014.00 4992.00 4970.00 4948.00 4926.00 4904.00 4882.00 4860.00 4838.00 4816.00 4794.00 4772.00 4750.00 4728.00 4706.00 4684.00 4662.00 4640.00 4618.00 4596.00 4574.00 4552.00 4530.00 4508.00 4486.00 4464.00 4442.00 4420.00 4398.00 4376.00 4354.00 4332.00 4310.00 4288.00 4266.00 4244.00 4222.00 4200.00 4178.00 4156.00 4134.00 4112.00 4090.00 4068.00 4046.00 4024.00 4002.00 3980.00 3958.00 3936.00 3914.00 3892.00 3870.00 3848.00 3826.00 3804.00 3782.00 3760.00 3738.00 3716.00 3694.00 3672.00 3650.00 3628.00 3606.00 3584.00 3562.00 3540.00 3518.00 3496.00 3474.00 3452.00 3430.00 3408.00 3386.00 3364.00 3342.00 3320.00 3298.00 3276.00 3254.00 3232.00 3210.00 3188.00 3166.00 3144.00 3122.00 3100.00 3078.00 3056.00 3034.00 3012.00 2990.00 2968.00 2946.00 2924.00 2902.00 2880.00 2858.00 2836.00 2814.00 2792.00 2770.00 2748.00 2726.00 2704.00 2682.00 2660.00 2638.00 2616.00 2594.00 2572.00 2550.00 2528.00 2506.00 2484.00 2462.00 2440.00 2418.00 2396.00 2374.00 2352.00 2330.00 2308.00 2286.00 2264.00 2242.00 2220.00 2198.00 2176.00 2154.00 2132.00 2110.00 2088.00 2066.00 2044.00 2022.00 2000.00

6500.00 6487.00 6474.00 6461.00 6448.00 6435.00 6422.00 6409.00 6396.00 6383.00 6370.00 6357.00 6344.00 6331.00 6318.00 6305.00 6292.00 6279.00 6266.00 6253.00 6240.00 6227.00 6214.00 6201.00 6188.00 6175.00 6162.00 6149.00 6136.00 6123.00 6110.00 6097.00 6084.00 6071.00 6058.00 6045.00 6032.00 6019.00 6006.00 5993.00 5980.00 5967.00 5954.00 5941.00 5928.00 5915.00 5902.00 5889.00 5876.00 5863.00 5850.00 5837.00 5824.00 5811.00 5798.00 5785.00 5772.00 5759.00 5746.00 5733.00 5720.00 5707.00 5694.00 5681.00 5668.00 5655.00 5642.00 5629.00 5616.00 5603.00 5590.00 5577.00 5564.00 5551.00 5538.00 5525.00 5512.00 5499.00 5486.00 5473.00 5460.00 5447.00 5434.00 5421.00 5408.00 5395.00 5382.00 5369.00 5356.00 5343.00 5330.00 5317.00 5304.00 5291.00 5278.00 5265.00 5252.00 5239.00 5226.00 5213.00 5200.00 5187.00 5174.00 5161.00 5148.00 5135.00 5122.00 5109.00 5096.00 5083.00 5070.00 5057.00 5044.00 5031.00 5018.00 5005.00 4992.00 4979.00 4966.00 4953.00 4940.00 4927.00 4914.00 4901.00 4888.00 4875.00 4862.00 4849.00 4836.00 4823.00 4810.00 4797.00 4784.00 4771.00 4758.00 4745.00 4732.00 4719.00 4706.00 4693.00 4680.00 4667.00 4654.00 4641.00 4628.00 4615.00 4602.00 4589.00 4576.00 4563.00 4550.00 4537.00 4524.00 4511.00 4498.00 4485.00 4472.00 4459.00 4446.00 4433.00 4420.00 4407.00 4394.00 4381.00 4368.00 4355.00 4342.00 4329.00 4316.00 4303.00 4290.00 4277.00 4264.00 4251.00 4238.00 4225.00 4212.00 4199.00 4186.00 4173.00 4160.00 4147.00 4134.00 4121.00 4108.00 4095.00 4082.00 4069.00 4056.00 4043.00 4030.00 4017.00 4004.00 3991.00 3978.00 3965.00 3952.00 3939.00 3926.00 3913.00 3900.00 3887.00 3874.00 3861.00 3848.00 3835.00 3822.00 3809.00 3796.00 3783.00 3770.00 3757.00 3744.00 3731.00 3718.00 3705.00 3692.00 3679.00 3666.00 3653.00 3640.00 3627.00 3614.00 3601.00 3588.00 3575.00 3562.00 3549.00 3536.00 3523.00 3510.00 3497.00 3484.00 3471.00 3458.00 3445.00 3432.00 3419.00 3406.00 3393.00 3380.00 3367.00 3354.00 3341.00 3328.00 3315.00 3302.00 3289.00 3276.00 3263.00 3250.00 3237.00 3224.00 3211.00 3198.00 3185.00 3172.00 3159.00 3146.00 3133.00 3120.00 3107.00 3094.00 3081.00 3068.00 3055.00 3042.00 3029.00 3016.00 3003.00 2990.00 2977.00 2964.00 2951.00 2938.00 2925.00 2912.00 2899.00 2886.00 2873.00 2860.00 2847.00 2834.00 2821.00 2808.00 2795.00 2782.00 2769.00 2756.00 2743.00 2730.00 2717.00 2704.00 2691.00 2678.00 2665.00 2652.00 2639.00 2626.00 2613.00 2600.00 2587.00 2574.00 2561.00 2548.00 2535.00 2522.00 2509.00 2496.00 2483.00 2470.00 2457.00 2444.00 2431.00 2418.00 2405.00 2392.00 2379.00 2366.00 2353.00 2340.00 2327.00 2314.00 2301.00 2288.00 2275.00 2262.00 2249.00 2236.00 2223.00 2210.00 2197.00 2184.00 2171.00 2158.00 2145.00 2132.00 2119.00 2106.00 2093.00 2080.00 2067.00 2054.00 2041.00 2028.00 2015.00 2002.00 1989.00 1976.00 1963.00 1950.00 1937.00 1924.00 1911.00 1898.00 1885.00 1872.00 1859.00 1846.00 1833.00 1820.00 1807.00 1794.00 1781.00 1768.00 1755.00 1742.00 1729.00 1716.00 1703.00 1690.00 1677.00 1664.00 1651.00 1638.00 1625.00 1612.00 1599.00 1586.00 1573.00 1560.00 1547.00 1534.00 1521.00 1508.00 1495.00 1482.00 1469.00 1456.00 1443.00 1430.00 1417.00 1404.00 1391.00 1378.00 1365.00 1352.00 1339.00 1326.00 1313.00 1300.00 1287.00 1274.00 1261.00 1248.00 1235.00 1222.00 1209.00 1196.00 1183.00 1170.00 1157.00 1144.00 1131.00 1118.00 1105.00 1092.00 1079.00 1066.00 1053.00 1040.00 1027.00 1014.00 1001.00 988.00 975.00 962.00 949.00 936.00 923.00 910.00 897.00 884.00 871.00 858.00 845.00 832.00 819.00 806.00 793.00 780.00 767.00 754.00 741.00 728.00 715.00 702.00 689.00 676.00 663.00 650.00 637.00 624.00 611.00 598.00 585.00 572.00 559.00 546.00 533.00 520.00 507.00 494.00 481.00 468.00 455.00 442.00 429.00 416.00 403.00 390.00 377.00 364.00 351.00 338.00 325.00 312.00 299.00 286.00 273.00 260.00 247.00 234.00 221.00 208.00 195.00 182.00 169.00 156.00 143.00 130.00 117.00 104.00 91.00 78.00 65.00 52.00 39.00 26.00 13.00 0.00

5530

5667

3644

2478

2715

2222

2391

2098

FY 15

FY 16

FY17

FY 18

FY 19

FY 20

FY21

FY 22

FY 15

FY 16

FY17

FY 18

FY 19

FY 20

FY21

FY 22

Grey Cement Cost Trends – India Operations

Energy Cost (Rs / Mt)

Comparative Cost (TPP / WHRS )

1270.00 1260.00 1250.00 1240.00 1230.00 1220.00 1210.00 1200.00 1190.00 1180.00 1170.00 1160.00 1150.00 1140.00 1130.00 1120.00 1110.00 1100.00 1090.00 1080.00 1070.00 1060.00 1050.00 1040.00 1030.00 1020.00 1010.00 1000.00 990.00 980.00 970.00 960.00 950.00 940.00 930.00 920.00 910.00 900.00 890.00 880.00 870.00 860.00 850.00 840.00 830.00 820.00 810.00 800.00 790.00 780.00 770.00 760.00 750.00 740.00 730.00 720.00 710.00 700.00 690.00 680.00 670.00 660.00 650.00

1240

979

938

985

950

1065

824

763

6.50 6.00 5.50 5.00 4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00

5.80

4.50

4.90

4.80

4.50

4.30

3.80

3.70

0.6

0.7

0.4

0.8

0.9

FY 15

FY 16

FY17

FY 18

FY 19

FY 20

FY21

FY 22

FY 15

FY 16

FY17

FY 18

FY 19

FY 20

FY21

FY22

Fuel Mix - Kiln

FY15 FY16 FY17 FY18 FY19 FY 20 FY 21 FY22

Power mix

FY15 FY16 FY17 FY18 FY19 FY 20 FY 21 FY22

Imported Coal

26% 20% 14% 14% 15% 17% 38% 61%

TPP

82% 82% 80% 79% 75% 72% 70% 65%

Petcoke

52% 70% 74% 72% 68% 69% 52% 29%

Green Power

7% 10% 13% 18%

Ind. Coal & Others

22% 10% 12% 14% 17% 14% 10% 10%

Others

16% 13% 13% 12% 18% 18% 17% 17%

Grey Cement Cost Trends – India Operations

Raw Materials Cost (Rs/ Mt)

Logistics Cost (Rs/ Mt)

531

491

493

504

464

467

473

444

550.00 540.00 530.00 520.00 510.00 500.00 490.00 480.00 470.00 460.00 450.00 440.00 430.00 420.00 410.00 400.00 390.00 380.00 370.00 360.00 350.00 340.00 330.00 320.00 310.00 300.00

1240.00 1230.00 1220.00 1210.00 1200.00 1190.00 1180.00 1170.00 1160.00 1150.00 1140.00 1130.00 1120.00 1110.00 1100.00 1090.00 1080.00 1070.00 1060.00 1050.00 1040.00 1030.00 1020.00 1010.00 1000.00 990.00 980.00 970.00 960.00 950.00 940.00 930.00 920.00 910.00 900.00 890.00 880.00 870.00 860.00 850.00 840.00 830.00 820.00 810.00 800.00 790.00 780.00 770.00 760.00 750.00

1075

1099

1074

1124

1187

1144

1158

1214

FY 15

FY 16

FY17

FY 18

FY 19

FY 20

FY21

FY22

FY 15

FY 16

FY17

FY 18

FY 19

FY 20

FY21

FY22

FY15 FY 16 FY17

FY18

FY19

FY20

FY21

FY22

Mix

Rail

29% 28% 25% 24%

Road

67% 69% 72% 72%

Sea

27%

71%

24%

73%

26%

72%

26%

73%

Key Inputs: Historical Price Trends

Pet coke Price Trend

1089

1096

114

116

1053 98

1011

1026

985

914

913

937

952

978

110

1019

123

1099

142

1450

208

1573

231

1327

193

1731

1766

224

193

Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23

Diesel Price Trend

Energy Cost

Petcoke Consumption Price Trend (US$/t)

1176

1182

1180

1173

1128

1122

1149

1116

1140

1178

1176

1187

1219

1229

1218

1253

1239

1250

2000

1500

1000

500

1445 1245 1045 845 645 445 245 45

300 250 200 150 100 50 0

150

100

Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23

Logistic Cost (Rs/Mt)

Diesel Consumption Price Trend (Rs/Ltr)

EBITDA PMT Trend

1478

1159

1262

1251

1090

103

1122

131

1051

1036

926

1651

198

1449

1438

1460

108

1387

1689

1394

1324

1178

1299

1094

866

939

990

953

869

1413

1069

1020

1159

1169

1453

1381 1330

1356

1372 1590

1324

1062

1138

1266

1248

812

945

900

FY16

FY17

FY18

FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20

FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21

FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22

FY22 Q1FY23 Q2FY23 Q3FY23

Operating Profit

Other Income

Total EBITDA

Quarterly Performance Trends – India Operations

Particulars

Capacity (MTPA)

Total Sales Volume (MnT)

Net Sales

EBITDA

EBIT

Profit Before Tax

Tax Expenses

Net Earnings

Cash Earnings

Key Ratios

Q3FY23 Q2FY23 Q1FY23 Q4FY22 Q3FY22 Q2FY22 Q1FY22 Q4FY21 Q3FY21 Q2FY21 Q1FY21 Q4FY20 Q3FY20

Rs Crs

121.4

24.8

115.9

114.6

112.6

111.4

109.4

22.2

24.2

26.5

22.0

20.4

20.5

26.6

22.8

14,755

13,176

14,543

14,919

12,156

11,242

11,299

13,757

11,698

2,340

1,646

1,452

462

990

1,926

1,246

1,059

333

727

1,749

1,468

3,143

2,476

2,276

714

1,562

2,342

3,126

2,447

2,272 #

804

1,468

3,268

2,406

1,761

1,583

460

1,123

1,971

2,849

2,199

1,974

646

1,328

2,010

3,468

2,836

2,516

834

1,682

2,344

3,687

3,016 2,649$

865 1,783$

2,806

3,282

2,645

2,299

753

1,546

2,527

19.2

9,861

2,784

2,138 1,791$

569 1,219$

2,197

13.9

7,262

2,302

1,683 1,300$

367 885$

1,552

20.5

10,200

2,592

1,945

1,460 *

344

1,117

1,860

20.0

9,800

2,046

1,399

940

291

650

1,423

Q3FY23 Q2FY23 Q1FY23 Q4FY22 Q3FY22 Q2FY22 Q1FY22 Q4FY21 Q3FY21 Q2FY21 Q1FY21 Q4FY20 Q3FY20

Capacity Utilisation (%)

83%

76%

83%

90%

75%

71%

73%

93%

80%

66%

46%

74%

69%

Blended Realisation (Rs/mt)

5,958

5,925

6,010

5,620

5,527

5,501

5,503

5,174

5,126

5,133

5,209

4,971

EBITDA Margin

EBIDTA (Rs/mt)

16%

945

15%

866

22%

21%

20%

25%

31%

27%

28%

32%

25%

1,299

1,178

1,094

1,394

1,689

1,387

1,438

1,449

1,651

1,262

1,090

34.4

22.5 Normalized EPS (Rs/share) # Excluding (1) reversal of provision of Income Tax of Rs 983 Crs in Q4 and Rs 535 Crs in Q3 pursuant to completion of prior year tax assessments and (2) Gain on sale of asset held for disposal – Rs 160 Crs in Q4 $ Excluding exceptional loss of Rs 157 crs in Q1 FY21, Gain of Rs 79 crs in Q2 FY21 and Loss of Rs 36 crs in Q4 FY21 * Excludes benefit of opening Deferred tax liabilities (DTL) reversal of Rs 2112 Crs due to change in income tax rates (34.944% to 25.168%) ^ Before provision for disputed liabilities offered under Sabka Vishwas Scheme

54.2

39.0

25.2

50.9

46.0

42.3

38.7

61.8

53.6

30.7

58.3

4,900 ^

21%

Annual Performance Trends – India Operations

Particulars

Capacity (MTPA)

Total Cement Volume (MnT)

FY22

114.6

89.5

FY21

111.4

82.6

FY20

111.4

78.8

FY19

109.4

82.4

FY18

85.0

60.6

FY17

66.3

50.2

FY16

64.7

49.3

FY15

60.2

46.1

FY14

54.0

42.6

FY13

50.9

41.7

Rs Crs FY12

48.8

41.7

49,615

42,578

39,923

39,257

28,930

23,616

23,440

22,648

20,078

20,023

18,158

Net Sales

EBITDA

EBIT

Profit Before Tax

Tax Expenses

Net Earnings

Cash Earnings

Key Ratios

Capacity Utilisation (%)

Blended Realisation (Rs/mt)

EBITDA Margin

EBIDTA (Rs/mt)

11,849

12,055

9,243

8,345

2,744

5,601

9,593

FY22

77%

5,543

24%

1,324

9,482 8,038$

2,554 5,433$

9,082

FY21

71%

5,157

28%

1,460

9,724

7,129

5,203

1,570

3,633

6,882

FY20

69%

5,069

24%

1,251

7,623

5,259

3,412

1,080

2,332

5,059

FY19

76%

4,766

19%

926

6,483

4,719

3,302

1,071

2,231

4,580

FY18

71%

4,770

22%

1,051

5,629

4,347

3,776

1,148

2,628

4,251

FY17

72%

4,706

24%

1,122

5,107

3,810

3,299

928

2,370

3,972

FY16

76%

4,757

22%

1,036

4,567

3,434

2,887

872

2,015

3,523

FY15

75%

4,915

20%

992

4,147

3,095

2,776

631

2,144

3,269

FY14

79%

4,713

21%

973

4,980

4,035

3,825

1,170

2,655

3,765

FY13

82%

4,804

25%

1,195

194.2

Normalized EPS (Rs/share) Note: Figures of FY15 & prior are reported nos. as per previous Indian Accounting Standards # Excluding (1) reversal of provision of Income Tax of Rs 1518 Crs pursuant to completion of prior year tax assessments and (2)Gain on sale of asset held for disposal – Rs 160 Crs * Excludes benefit of opening Deferred tax liabilities (DTL) reversal of Rs 2112 Crs due to change in income tax rates (34.944% to 25.168%) $ Excluding exceptional loss of Rs 114 crs in FY21 ^ Before provision for disputed liabilities offered under Sabka Vishwas Scheme

188.4

125.9

95.7

81.5

78.2

81.3

73.4

86.4

96.9

4,519

3,617

3,393

947

2,446

3,356

FY12

83%

4,359

25%

1,085

89.3

Annual Performance Trends – India Operations

Rs Crs

Financial Position

Dec-22

FY22

FY21

FY20

FY19

FY18

FY17

FY16

FY15

FY14

Net Fixed Assets (Incl. Goodwill)

61,407

59,008

56,161

57,681

58,613

40,782

24,387

24,499

23,632

18,650

Investments in Subs/Asso/JVs

Net working Capital

Capital Employed

3,139

(124)

2,183

2,118

(1,704)

(2,336)

772

759

368

751

(428)

746

(840)

725

730

223

551

64,423

59,488

55,943

58,539

59,740

41,104

24,293

25,245

24,585

19,752

Shareholders Fund (Inc. Minority Interest)

51,670

49,688

43,553

38,533

33,220

25,923

23,941

21,632

18,858

17,098

Total Debt

Less: Treasury Surplus

Net Debt

Deferred Tax Liability

9,844

3,326

6,518

6,235

9,899

6,148

3,751

6,049

19,975

20,978

23,336

17,420

13,622

5,882

3,224

5,412

6,240

8,663

6,353

6,038

15,096

20,112

12,007

(2,422)

4,910

6,408

3,174

2,774

8,250

7,069

1,181

2,432

7,414

4,479

2,935

2,792

5,199

4,841

359

2,296

Total Equity and Liabilities

64,423

59,488

55,943

58,539

59,740

41,104

24,293

25,245

24,585

19,752

Key Ratios

ROCE (PBIT/Capital Employed)*

Net Debt /EBIDTA (Times)

Return on Equity (excl. goodwill)

Dividend Payout on Normalised PAT

Dec-22

13.2%

0.62

10.7%

Book Value per share (Rs/Share)

1792

FY22

17.0%

0.32

13.5%

19.1%

1721

FY21

18.7%

0.53

15.1%

19.7%

1509

FY20

13.3%

1.55

11.8%

10.3%

1335

FY19

9.6%

2.64

8.6%

16.3%

1151

FY18

11.5%

1.85

8.9%

15.6%

944

FY17

17.9%

(0.43)

11.5%

12.6%

872

FY16

15.1%

0.23

11.5%

13.2%

788

FY15

14.0%

0.64

11.2%

14.8%

687

FY14

15.7%

0.09

13.0%

13.5%

623

Note: 1. Figures of Mar’15 & prior are reported nos. as per previous Indian Accounting Standards * Excluding Goodwill and Treasury Surplus

Quarterly Performance Trends - Consolidated

Particulars

Capacity (MTPA)

Total Sales Volume (MnT)

Net Sales

EBITDA

EBIT

Profit Before Tax

Tax Expenses

Cash Earnings

Key Ratios

Q3FY23 Q2FY23 Q1FY23 Q4FY22 Q3FY22 Q2FY22 Q1FY22 Q4FY21 Q3FY21 Q2FY21 Q1FY21 Q4FY20 Q3FY20

126.8

25.86

121.3

120.0

118.0

116.8

115.4

23.1

25.0

27.7

23.1

21.6

21.5

27.8

23.9

20.0

14.7

21.7

21.1

15,299

13,596

15,007

15,557

12,710

11,743

11,698

14,232

12,144

10,264

7,600

10,689

10,263

Rs Crs

2,462

1,739

1,524

465

2,013

1,305

1,105

344

756

1,867

1,530

3,204

2,509

2,293

711

1,584

2,381

3,165

2,462

2,255

785

# 1,478

3,277

2,490

1,816

1,633

459

1,173

2,051

2,855

2,177

1,947

637

1,314

2,012

3,512

2,853

2,526

827

1,703

2,382

3,751

3,053

2,676$

865

1,814$

2,859

3,362

2,688

2,332

747

1,584

2,597

2,833

2,156

2,356

1,705

1,798$

1,311$

566

1,229$

360

902$

2,645

1,967

1,461

334

1,129

2,147

1,469

997

286

712

2,236

1,594

1,891

1,510

Q3FY23 Q2FY23 Q1FY23 Q4FY22 Q3FY22 Q2FY22 Q1FY22 Q4FY21 Q3FY21 Q2FY21 Q1FY21 Q4FY20 Q3FY20

Net Earnings after minority interest

1,058

Capacity Utilisation (%)

82%

75%

82%

89%

75%

71%

72%

92%

81%

65%

47%

74%

69%

Blended Realisation (Rs/mt)

5,916

5,885

5,993

5,618

5,496

5,425

5,434

5,123

5,077

5,120

5,180

4,920

4,854

EBITDA Margin

EBIDTA (Rs/mt)

16%

952

15%

871

21%

20%

24%

30%

26%

28%

31%

25%

21%

1,279

1,143

1,077

1,319

1,632

1,350

1,406

1,413

1,606

1,217

1,079

25 Normalized EPS (Rs/share) # Excluding (1) reversal of provision of Income Tax of Rs 983 Crs in Q4 and Rs 535 Crs in Q3 pursuant to completion of prior year tax assessments and (2) Gain on sale of asset held for disposal – Rs 160 Crs in Q4 $ Excluding exceptional loss of Rs 157 crs in Q1 FY21, Gain of Rs 79 crs in Q2 FY21 and Loss of Rs 39 crs in Q4 FY21 * Excludes benefit of opening Deferred tax liabilities (DTL) reversal of Rs 2112 Crs due to change in income tax rates (34.944% to 25.168%) ^ Before provision for disputed liabilities offered under Sabka Vishwas Scheme

Annual Performance Trends - Consolidated

Particulars

Capacity (MTPA)

Total Cement Volume (MnT)

FY22

120

94.0

FY21

116.8

86.4

FY20

116.8

83.1

FY19

115.4

86.0

FY18

89.0

64.6

FY17

FY16

FY15

FY14

FY13

FY12

70.3

53.7

67.7

52.6

63.2

49.4

57.0

45.8

53.9

44.7

51.8

44.9

Rs Crs

Net Sales

EBITDA

EBIT

Profit Before Tax

Tax Expenses

Net Earnings after Minority Interest

Cash Earnings

Key Ratios

Capacity Utilisation (%)

Blended Realisation (Rs/mt)

EBITDA Margin

EBIDTA (Rs/mt)

Normalized EPS (Rs/share)

51,708

44,239

41,781

41,052

30,541

25,092

24,880

24,056

21,443

21,161

19,077

12,022

12,302

9,307

8,363

2,708

5,667

9,721

FY22

77%

5,501

23%

1,279

196.0

9,602 8,116$

2,539 5,530$

9,286

FY21

70%

5,119

28%

1,424

191.7

9,898

7,176

5,184

1,543

3,644

6,985

FY20

69%

5,027 ^

24%

1,207

126.6

7,807

5,351

3,456

1,068

2,391

5,192

FY19

73%

6,734

4,765

3,301

1,077

2,222

4,777

FY18

72%

5,861

4,512

3,872

1,159

2,715

4,404

FY17

74%

5,365

4,776

4,358

5,143

4,565

3,988

3,572

3,219

4,120

3,602

3,421

2,986

2,858

3,867

3,345

942

884

645

1,179

948

2,478

2,098

2,206

2,678

2,403

4,166

3,680

3,424

3,869

3,370

FY16

77%

FY15

76%

FY14

80%

FY13

82%

FY12

84%

4,771

4,728

4,671

4,727

4,869

4,682

4,739

4,251

19%

907

84.0

22%

23%

22%

1,042

1,091

1,019

80.9

98.9

90.3

20%

967

76.5

20%

951

80.5

24%

1,152

1,017

97.7

87.7

Note: Figures of Mar’15 & prior are reported nos. as per previous Indian Accounting Standards # Excluding (1) reversal of provision of Income Tax of Rs 983 Crs in Q4 and Rs 535 Crs in Q3 pursuant to completion of prior year tax assessments and (2) Gain on sale of asset held for disposal – Rs 160 Crs in FY22 $ Excluding exceptional loss of Rs 114 crs in FY21 ^ Before provision for disputed liabilities offered under Sabka Vishwas Scheme * Excludes benefit of opening Deferred tax liabilities (DTL) reversal of Rs 2112 Crs due to change in income tax rates (34.944% to 25.168%)

Annual Performance Trends – Consolidated

Financial Position

Dec-22

FY22

FY21

FY20

FY19

FY18

FY17

FY16

FY15

FY14

Net Fixed Assets (Incl. Goodwill)

64,141

61,606

58,775

60,258

61,200

43,332

27,124

27,233

26,239

21,057

Rs Crs

Investments in Subs/Asso/JVs

1,714

101

666

(1,357)

(1,918)

633

1,135

266

(188)

667

780

902

66,521

60,350

56,931

60,938

62,379

43,632

26,959

27,915

27,040

21,980

Net working Capital

Capital Employed

Shareholders Fund (Inc. Minority Interest)

52,603

50,432

44,180

39,051

33,750

26,397

24,402

21,961

19,059

17,199

Total Debt

Less: Treasury Surplus

Net Debt

Deferred Tax Liability

11,113

10,203

20,488

23,019

25,455

19,480

3,391

7,722

6,197

6,302

3,901

6,017

13,771

6,038

3,226

5,419

6,717

6,034

16,981

22,229

14,062

4,906

6,399

3,173

8,474

8,690

(215)

2,773

10,616

7,093

3,523

2,431

9,829

4,634

5,195

2,786

7,332

4,841

2,491

2,290

Total Equity and Liabilities

66,521

60,350

56,931

60,938

62,379

43,632

26,959

27,915

27,040

21,980

Key Ratios

ROCE (PBIT/Capital Employed) *

Net Debt /EBIDTA (Times)

Return on Closing Equity (excluding Goodwill)

Book Value per share (Rs/Share)

Dec-22

13.3%

0.71

11.1%

1824

FY22

17.2%

0.32

13.8%

1747

FY21

18.9%

0.55

15.6%

1531

FY20

13.1%

1.72

12.1%

1353

FY19

9.5%

2.83

9.0%

1170

FY18

11.2%

2.09

8.7%

961

FY17

17.4%

(0.04)

11.7%

889

FY16

14.9%

0.66

11.9%

800

FY15

13.7%

1.09

11.0%

694

FY14

15.3%

0.57

12.8%

627

Note: 1. Figures of Mar’15 & prior are reported nos. as per previous Indian Accounting Standards * Excluding Goodwill and Treasury Surplus

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

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