ULTRACEMCONSE24 May 2023

UltraTech Cement Limited has informed the Exchange about Investor Presentation

UltraTech Cement Limited

24th May, 2023

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

Sub.:

Ref.:

Corporate Dossier of UltraTech Cement Limited (“the Company”)

a. Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure

Requirements) Regulations, 2015 (“Listing Regulations”) ISIN: INE481G01011

In terms of Regulation 30 of the Listing Regulations, please find attached the Corporate Dossier of the Company.

being This https://www.ultratechcement.com/investors/financials

uploaded

also

the

website

the

Company

This is for your information and records, please.

Thanking you, Yours faithfully, For UltraTech Cement Limited

Sanjeeb Kumar Chatterjee Company Secretary and Compliance Officer

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

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 180,000 employees from 100+ nationalities

Over 7 decades of responsible business practices

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 producer of specialty chemicals,

caustic soda & advance materials in India

◼ World’s leading sustainable

manufacturer of carbon black

◼ Present in every 2nd car of the world

◼ # 1 in aluminum rolling globally ◼ World’s most sustainable and largest

recycler of aluminium

◼ World leading bulk commodity

trading solution and logistic provider

◼ Top fashion and lifestyle player in

India

◼ Iconic brands across the fashion and

retail segment

◼ A leading financial services player

◼ AUM ~ USD 54bn

◼ Largest domestic producer of high-

quality noble ferro alloys

◼ Leading mine-developer-operator in

Indian private sector

◼ Formidable in Real Estate with more than 6.4mn sq.ft. under construction

◼ 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 231 plants

Market Capof ~USD 27bn*

FY23 ConsolidatedRevenue ~USD 7.9 bn

Different Products to provide complete Building Solutions 3450 stores

Leading Player of White Cement and Cement based Putty

~2.1 bn bags of cement every year

~78,000 + Direct and Indirect

Employees

* As on 31st March, 2023

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

Capacity 132.35 MTPA*

Leading player in India

231 RMC plants in 109 cities

3,450 outlets in 22 States

Range of >60 products

2012

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

1998

Building Solutions

Ready mix Concrete

2007

Building Products

One-stop building solutions for the retail customer

Portfolio of building solution products such as plasters and mortars, flooring, tile adhesives, industrial grouts, waterproofing products etc.

* As on 31st March, 2023

Grey Cement: Balanced growth through organic and inorganic expansion

Capacity evolution (In mtpa)

Organic

Inorganic

132.4

68.9

116.8

66.9

49.9

63.5

51.8

20.0

31.8

67.7

24.8

42.9

2011

2016

2020

2023

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

120.0 mtpa ◼ Acquisition of :

Jaypee Cement (21.2 mtpa), o o Binani Cement (6.25 mtpa), Century Cement (14.6 mtpa) o

◼ Organic Capacity addition: 8.2 mtpa ◼ 3rd largest global cement player by capacity

(ex. China)

2023

2025

160.45 mtpa ◼ After Phase 2 expansion

1.0 mtpa ◼ 1st cement plant set

8.5 mtpa ◼ Merger of Indian

up for Grasim (Vikram Cement) and Indian Rayon (Rajashree Cement)

Rayon and Grasim Cement business

31.0 mtpa ◼ Acquisition of L&T Cement Business (17mtpa)

◼ Listing of UltraTech as part of acquisition

1983-88

1998

2004

2008

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

under one roof

◼ Acquisition of Star Cement: 3 mtpa

2011

2016

67.7 mtpa

2019- 22

132.4 mtpa ◼ Commissioned capacity of 12.4

mtpa as part of phase 1 expansion

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

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

Ludhiana

Patiala

Sonepat Bahadurgarh Gurgaon Bhiwadi Jaipur

Kota

Udaipur

Pali

Chandigarh

Dehradun

Roorkee

Ghaziabad

Delhi

Meerut

Kanpur

Noida Faridabad

Jaitipur

Neemrana Kotputli

Shahjahanpur

Lucknow

Varanasi

Maihar

Jabalpur

Patna

Ranchi

Jamshedpur

Morbi

Palanpur Mehsana

Jamnagar Rajkot Bhavnagar Rajula

Junagadh Vadodara

Gandhinagar Ahmedabad Nadiad

Indore

Ankleshwar

Dahej

Bhopal Pithampur

Amravati Jalgaon

Bilaspur

Hirmi Kukurdi

Surat

Aurangabad

Nashik

Navi Mumbai

Akola

Dhule

Nagpur

Raipur Chandrapur

Kolkata

Bhubaneshwar

Vapi Valsad Boisar Mumbai

Pune Satara Sangli

Kolhapur

Shirdi

Latur

Hyderabad

Nalgonda

Belgaum

Karimnagar

Vizianagaram

Vishakhapatnam Kakinada

Rajahmundry

Solapur Hubli

Nandyal

Warangal

Goa

Shimoga

Kurnool

Vijayawada

Khammam Guntur

Udupi Mangalore

Mysore Kottayam

Coimbatore Thrissur

Cochin

Kollam Trivandrum

Tumkur

Nellore

Tirupati

Bangalore

Tirupur

Arrakonam Chennai Kanchipuram

Trichy

Salem

Karur

Product offering based on the requirement

Performance

based Concrete

Usage based

Concrete

Decorative Concrete

Green Concrete

Siliguri

Guwahati

Revenues of ~Rs .3900 Crs and consumed 3.1 MNT of Grey Cement in FY23

231 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 recognized 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

3,450 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

Solar Water Heaters

Sanitary and Fittings

Aluminum Windows

UPVC Doors

UltraTech Building Products

Dry Mix

Synergy

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

◼ Forward integration of the cement business

◼ Value-added products

Plasters & Mortars

Adhesives & Sealants

Industrial Grouts

Flooring

Repair & Rehabilitation

Waterproofing

Portfolio breadth and depth

Product Basket

Dry Mix

Water proofing

Total

Categories

Products

Variants

Liquid Waterproofing

Cementitious Waterproofing

Environment friendly

◼ Environment

(M-Sand

conserve sand beds; needed in curing)

helping less water

◼ 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)

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

5 1

As on 31st March, 2023

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)

Key Domestic Mutual Funds, Insurance and Institutional Investors

Name

The Vanguard Group*

Ishares*

Kuwait Investment Authority Fund*

Aberdeen Asset Management*

Fidelity Investments*

Total FPI holding

Others

Total

*Multiple schemes

Holding (%)

Name

Holding (%)

1.64

1.05

0.99

0.96

14.77

0.88

15.65

Life Insurance Corporation of India*

SBI Mutual Fund*

ICICI Prudential Mutual Fund*

Kotak Mutual Fund*

Total Domestic Mutual Funds and Institutions

Body Corporate and Others

Total

2.55

2.29

2.19

1.45

16.85

0.94

17.79

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: ~112 mtpa

Brazil: ~100 mtpa

East India: ~128 mtpa

Vietnam: ~119 mtpa

Central India: ~80 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

Urban Housing ~30-32%

Industrial & Commercial ~ 08-10%

Infrastructure ~22-24%

Segmental mix in Demand (FY23)

Rural Housing ~36-38%

Sectoral demand growth CAGR: FY23-FY27

Industrial & Commercial

~6%

Urban Housing

Rural Housing

Infrastructure

~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)

◼ 29 Grinding Units2 (GU)

◼ 8 Bulk Packaging Terminals3 (Sea + Rail)

◼ 1 White Cement & 3 Putty Unit

◼ 5 Jetties

Grey Cement Capacity (mtpa)

UTCL Capacity As on March’23

UTCL Mix

Industry Capacity

20%

23%

18%

23%

16%

100%

~112

~80

~128

~79

~176

~575

25.7

28.4

22.9

29.5

20.5

127.0

5.4

132.4

Zones

North

Central

East

West

South

All India

Overseas

Total

UTCL Sharein Industry

23%

36%

18%

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 25 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) – India

155.05

Mar-25

Grey Cement Capacity (mtpa)

Zones

Mar-23

Ongoing Expansion

Phase II Expansion

Mar-25

North

Central

East

West

South

25.7

28.4

22.9

29.5

20.5

0.8

3.5

1.2

4.4

7.3

5.2

0.0

5.7

30.9

35.7

31.6

30.7

26.2

All India

126.95

5.50

22.60

155.05

Grey cement capacity of 155.05 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: 555 MW

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

UOM

Current

mtpa

132.4

mtpa

2.0

RMC

Mn. Cub. Mtr

28.2

Note: All metrics as of 31st March, 2023; 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

27%

Map is used only for representation purpose

Roads

71%

~5.7 mn bags dispatched per day in India (FY23)

> 30,000 destinations

~61% lifting by GPS enabled fleet

~30,000+ orders processed daily

~10,000+ trucks loaded per day

>42% Dedicated fleet

6 Specialized Carriers

4 Mini Bulk Carriers and 1 Coal Ship

40+ Rakes a day

~ 120,000 + Channel Partners

1300+Warehouses 290+ Railheads

Mix of Transportation Road Rail

Sea

Extensive Technical Support to the Distribution Network

◼ Over 1,600 personnel deployed to provide technical advisory & testing Services along with value-added solutions to home builders,

engineers, architects and contractors

◼ Mobile concrete vans providing on-site testing for concrete, water, aggregates, civil engineering, tips, advisories and site demo for

Masonry, plaster and concrete applications on good construction practices.

Homebuilders

▪ Provides construction tips, virtual tools, Vastu advisory and engages with IHB at every stage of construction

Mason’s program

▪ Includes site demo on good construction practices of Masonry, plaster and concrete applications ▪ Builders and Contractors Meet, educational seminars and programs

Engineers/architects

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

Contractors

▪ Engages contractors and builders through meets, plant visits, and Loyalty program

Digitally connected

UltraTech Trade Connect

◼ Platform to engage with dealers,

retailers, masons, contractors,

architects

◼ Instant access to latest information

◼ Homebuilder tips and videos

◼ Updates on events and contests

◼ Easy ordering and real time tracking,

single view of data across various

parameters

◼ Customer Connect: Order scheduling,

acknowledgement and real time tracking for Non- trade and Key customers.

◼ 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

Circular Economy

Environment

Green Energy

ESG Metric

CO2 E m m i s s i o n

[kg CO2/t cement]

Alternative Raw material and Fuel [MnT]

WATER P o s i t i v e

[Times]

Green Power Mix ^ [% of Total Power]

FY23 Performance*

557

-4.3%

29.3

+21%

4.1x

+8%

25%

+32%

* Unaudited Numbers ^ Includes renewable power mix in grid power consumption

Carbon Emission reduction

Scope 1 Carbon Emission reduction

Target 2032 27%

Achieved till 2023 12%

Specific Net Direct GHG emissions

FY17

FY21

FY22

FY32

Key Steps leading to reduction in emissions

Increase in alternative fuel and clean energy

Adoption of emerging technologies

12%

27%

Increase in share of blended cement

Energy productivity (EP100)

GCCA Climate Ambition 2050

FY17

FY21

FY22

FY23

FY32

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 - ~10 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)

110.00

90.00

70.00

50.00

30.00

10.00

-10.00

104.09

84%

92.53

77%

84.64

81.81

85.10

75%

52.40

63.28

73%

70%

71%

70%

FY17

FY 18

FY 19

FY 20

FY21

FY22

FY23

90%

85%

80%

75%

70%

65%

60%

55%

50%

65,455 65,324 65,193 65,062 64,931 64,800 64,669 64,539 64,408 64,277 64,146 64,015 63,884 63,753 63,622 63,491 63,360 63,229 63,099 62,968 62,837 62,706 62,575 62,444 62,313 62,182 62,051 61,920 61,789 61,659 61,528 61,397 61,266 61,135 61,004 60,873 60,742 60,611 60,480 60,349 60,219 60,088 59,957 59,826 59,695 59,564 59,433 59,302 59,171 59,040 58,909 58,779 58,648 58,517 58,386 58,255 58,124 57,993 57,862 57,731 57,600 57,469 57,338 57,208 57,077 56,946 56,815 56,684 56,553 56,422 56,291 56,160 56,029 55,898 55,768 55,637 55,506 55,375 55,244 55,113 54,982 54,851 54,720 54,589 54,458 54,328 54,197 54,066 53,935 53,804 53,673 53,542 53,411 53,280 53,149 53,018 52,888 52,757 52,626 52,495 52,364 52,233 52,102 51,971 51,840 51,709 51,578 51,448 51,317 51,186 51,055 50,924 50,793 50,662 50,531 50,400 50,269 50,138 50,008 49,877 49,746 49,615 49,484 49,353 49,222 49,091 48,960 48,829 48,698 48,568 48,437 48,306 48,175 48,044 47,913 47,782 47,651 47,520 47,389 47,258 47,128 46,997 46,866 46,735 46,604 46,473 46,342 46,211 46,080 45,949 45,818 45,688 45,557 45,426 45,295 45,164 45,033 44,902 44,771 44,640 44,509 44,378 44,248 44,117 43,986 43,855 43,724 43,593 43,462 43,331 43,200 43,069 42,938 42,808 42,677 42,546 42,415 42,284 42,153 42,022 41,891 41,760 41,629 41,498 41,367 41,237 41,106 40,975 40,844 40,713 40,582 40,451 40,320 40,189 40,058 39,927 39,797 39,666 39,535 39,404 39,273 39,142 39,011 38,880 38,749 38,618 38,487 38,357 38,226 38,095 37,964 37,833 37,702 37,571 37,440 37,309 37,178 37,047 36,917 36,786 36,655 36,524 36,393 36,262 36,131 36,000 35,869 35,738 35,607 35,477 35,346 35,215 35,084 34,953 34,822 34,691 34,560 34,429 34,298 34,167 34,037 33,906 33,775 33,644 33,513 33,382 33,251 33,120 32,989 32,858 32,727 32,597 32,466 32,335 32,204 32,073 31,942 31,811 31,680 31,549 31,418 31,287 31,157 31,026 30,895 30,764 30,633 30,502 30,371 30,240 30,109 29,978 29,847 29,717 29,586 29,455 29,324 29,193 29,062 28,931 28,800 28,669 28,538 28,407 28,277 28,146 28,015 27,884 27,753 27,622 27,491 27,360 27,229 27,098 26,967 26,837 26,706 26,575 26,444 26,313 26,182 26,051 25,920 25,789 25,658 25,527 25,397 25,266 25,135 25,004 24,873 24,742 24,611 24,480 24,349 24,218 24,087 23,956 23,826 23,695 23,564 23,433 23,302 23,171 23,040 22,909 22,778 22,647 22,516 22,386 22,255 22,124 21,993 21,862 21,731 21,600 21,469 21,338 21,207 21,076 20,946 20,815 20,684 20,553 20,422 20,291 20,160 20,029 19,898 19,767 19,636 19,506 19,375 19,244 19,113 18,982 18,851 18,720 18,589 18,458 18,327 18,196 18,066 17,935 17,804 17,673 17,542 17,411 17,280 17,149 17,018 16,887 16,756 16,626 16,495 16,364 16,233 16,102 15,971 15,840 15,709 15,578 15,447 15,316 15,186 15,055 14,924 14,793 14,662 14,531 14,400 14,269 14,138 14,007 13,876 13,746 13,615 13,484 13,353 13,222 13,091 12,960 12,829 12,698 12,567 12,436 12,306 12,175 12,044 11,913 11,782 11,651 11,520 11,389 11,258 11,127 10,996 10,866 10,735 10,604 10,473 10,342 10,211 10,080 9,949 9,818 9,687 9,556 9,426 9,295 9,164 9,033 8,902 8,771 8,640 8,509 8,378 8,247 8,116 7,985 7,855 7,724 7,593 7,462 7,331 7,200 7,069 6,938 6,807 6,676 6,545 6,415 6,284 6,153 6,022 5,891 5,760 5,629 5,498 5,367 5,236 5,105 4,975 4,844 4,713 4,582 4,451 4,320 4,189 4,058 3,927 3,796 3,665 3,535 3,404 3,273 3,142 3,011 2,880 2,749 2,618 2,487 2,356 2,225 2,095 1,964 1,833 1,702 1,571 1,440 1,309 1,178 1,047 0131262393524655785916

62,338

51,708

41,052

41,781

44,239

30,541

25,092

FY17

FY 18

FY 19

FY 20

FY21

FY 22

FY 23

Key Performance Trends - Consolidated

EBIDTA (Rs Crs)

Normalised PAT (Rs Crs)

12,302

12,022

11,123

9,898

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

7,807

6,734

5,861

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

5,530

5,667

5,064

3,644

2,715

2,222

2,391

FY17

FY 18

FY 19

FY 20

FY21

FY 22

FY 23

FY17

FY 18

FY 19

FY 20

FY21

FY 22

FY 23

Grey Cement Cost Trends – India Operations

Energy Cost (Rs / Mt)

Comparative Cost (TPP / WHRS )

1750.00 1740.00 1730.00 1720.00 1710.00 1700.00 1690.00 1680.00 1670.00 1660.00 1650.00 1640.00 1630.00 1620.00 1610.00 1600.00 1590.00 1580.00 1570.00 1560.00 1550.00 1540.00 1530.00 1520.00 1510.00 1500.00 1490.00 1480.00 1470.00 1460.00 1450.00 1440.00 1430.00 1420.00 1410.00 1400.00 1390.00 1380.00 1370.00 1360.00 1350.00 1340.00 1330.00 1320.00 1310.00 1300.00 1290.00 1280.00 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

1065

938

985

950

763

1692

1240

8.00 7.50 7.00 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

7.20

5.80

4.50

4.90

4.80

4.50

3.70

0.6

0.7

0.8

0.9

0.7

FY17

FY 18

FY 19

FY 20

FY21

FY 22

FY23

FY17

FY 18

FY19

FY20

FY21

FY22

FY23

Fuel Mix - Kiln

FY17

FY18

FY19

FY 20 FY 21

FY22

FY23

Power mix

FY17

FY18

FY19

FY 20 FY 21

FY22

FY 23

Imported Coal

14% 14% 15% 17% 38% 61% 42%

TPP

80% 79% 75% 72% 70% 65% 48%

Petcoke

74% 72% 68% 69% 52% 29% 47%

Green Power

10% 13% 18% 25%

Indigenous Coal & Others

12% 14% 17% 14% 10% 10% 11%

Others

13% 12% 18% 18% 17% 17% 27%

Grey Cement Cost Trends – India Operations

Raw Materials Cost (Rs/ Mt)

Logistics Cost (Rs/ Mt)

467

473

491

493

504

531

600

650.00

600.00

550.00

500.00

450.00

400.00

350.00

300.00

250.00

200.00

1187

1158

1144

1124

1074

1248

1214

1280.00 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

FY17

FY 18

FY 19

FY 20

FY21

FY22

FY23

FY17

FY 18

FY 19

FY 20

FY21

FY22

FY23

Mix

Rail

Road

Sea

FY17

FY18

FY19

FY20

FY21

FY22

FY23

25%

72%

24%

72%

27%

71%

24%

73%

26%

72%

26%

73%

27%

71%

Key Inputs: Historical Price Trends

Pet coke Price Trend

1,011

1,026

985

914

913

937

952

978

1,019

1,099

110

123

142

1,450

208

1,573

231

1,327

193

1,731

1,766

1,697

224

193

188

Q1FY20

Q2FY20 Q3FY20

Q4FY20

Q1FY21

Q2FY21

Q3FY21

Q4FY21

Q1FY22 Q2FY22

Q3FY22

Q4FY22

Q1FY23

Q2FY23

Q3FY23

Q4FY23

Diesel Price Trend

Energy Cost

Petcoke Consumption Price Trend (US$/t)

1173

1128

1122

1149

1116

1140

1178

1176

1187

1219

1229

1218

1253

1239

1250

1251

2000

1500

1000

500

1445 1245 1045 845 645 445 245 45

300 250 200 150 100 50 0

150

100

Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23

Logistic Cost (Rs/Mt)

Diesel Consumption Price Trend (Rs/Ltr)

EBITDA PMT Trend

1651

198

1449

1438

108

1460

1308

1689

1590

1262

1251

103

1158

1090

1394

1178

1094

1324

1299

1069

1020

1159

1169

1453

1381

1330 1277

1277

1324

1138

1062

1266

1248

1478

1121

131

1051

926

1413

990

953

869

1110

1061

1060

1011

945

900

866

812

FY17

FY18

FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20

FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21

FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22

FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 812

FY23

Operating Profit

Other Income

Total EBITDA

Quarterly Performance Trends – India Operations

Particulars

Rs Crs Q4FY23 Q3FY23 Q2FY23 Q1FY23 Q4FY22 Q3FY22 Q2FY22 Q1FY22 Q4FY21 Q3FY21 Q2FY21 Q1FY21 Q4FY20

Capacity (MTPA)

127.0

121.4

115.9

114.6

112.6

111.4

Total Sales Volume (MnT)

30.5

24.8

22.2

24.2

26.5

22.0

20.4

20.5

26.6

22.8

19.2

13.9

20.5

Net Sales

EBITDA

EBIT

Profit Before Tax

Tax Expenses

Net Earnings

Cash Earnings

Key Ratios

17,885

14,755

13,176

14,543

14,919

12,156

11,242

11,299

13,757

11,698

9,861

7,262

10,200

3,383

2,650

2,475

822

1,654

2,431

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

2,784

2,302

2,138 1,791$

569 1,219$

1,683 1,300 $

367 885$

2,592

1,945

1,460

344*

1,117

2,197

1,552

1,860

Q4FY23 Q3FY23 Q2FY23 Q1FY23 Q4FY22 Q3FY22 Q2FY22 Q1FY22 Q4FY21 Q3FY21 Q2FY21 Q1FY21 Q4FY20

Capacity Utilisation (%)

95%

83%

76%

83%

90%

75%

71%

73%

93%

80%

66%

46%

74%

5,866

5,958

5,925

6,010

5,620

5,527

5,501

5,503

5,174

5,126

5,133

5,209

4,971

Blended Realisation (Rs/mt)

EBITDA Margin

EBIDTA (Rs/mt)

Normalized EPS (Rs/share)

57.4

19%

1,110

16%

945

34.4

15%

866

25.2

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

54.2

50.9

39.0

46.0

58.3

61.8

53.6

42.3

30.7

38.7

# 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%)

Annual Performance Trends – India Operations

Particulars

Capacity (MTPA)

Total Cement Volume (MnT)

FY23

127.0

101.7

FY22

FY21

FY20

FY19

114.6

111.4

109.4

89.5

82.6

78.8

82.4

FY18

85.0

60.6

FY17

66.3

50.2

FY16

64.7

49.3

FY15

60.2

46.1

Rs Crs

FY14

54.0

42.6

Net Sales

EBITDA

EBIT

Profit Before Tax

Tax Expenses

Net Earnings

Cash Earnings

Key Ratios

Capacity Utilisation (%)

60,359

49,615

42,578

39,923

39,257

28,930

23,616

23,440

22,648

20,078

10,791

11,849

12,055

8,018

7,263

2,329

4,933

7,989

FY23

84%

9,243

8,345 # 2,744

5,601

9,482 8,038 $

2,554 5,433 $

FY22

77%

FY21

71%

9,593

9,082

6,882

9,724

7,129

5,203

* 1,570

3,633

FY20

69%

5,069 ^

24%

^ 1,251

7,623

5,259

3,412

1,080

2,332

5,059

FY19

76%

6,483

4,719

3,302

1,071

2,231

4,580

FY18

71%

5,629

4,347

3,776

1,148

2,628

4,251

FY17

72%

5,107

3,810

3,299

928

2,370

3,972

FY16

76%

4,567

3,434

2,887

872

2,015

3,523

FY15

75%

4,147

3,095

2,776

631

2,144

3,269

FY14

79%

4,766

4,770

4,706

4,757

4,915

4,713

19%

926

22%

24%

22%

1,051

1,122

1,036

20%

992

21%

973

Blended Realisation (Rs/mt)

5,936

5,543

5,157

EBITDA Margin

EBIDTA (Rs/mt)

18%

24%

28%

1,061

1,324

1,460

171.1 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

194.2

125.9

188.4

81.5

95.7

86.4

81.3

78.2

73.4

Annual Performance Trends – India Operations

Financial Position

FY23

FY22

FY21

FY20

FY19

FY18

FY17

FY16

FY15

FY14

Net Fixed Assets (Incl. Goodwill)

62,121

59,008

56,161

57,681

58,613

40,782

24,387

24,499

23,632

18,650

Rs Crs

Investments in Subs/Associates/JVs

3,187

2,183

2,118

(3,987)

(1,704)

(2,336)

772

759

368

751

(428)

746

(840)

725

730

223

551

61,321

59,488

55,943

58,539

59,740

41,104

24,293

25,245

24,585

19,752

Net working Capital

Capital Employed

Shareholders Fund (Inc. Minority Interest)

53,369

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

8,750

7,093

1,658

6,295

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

61,321

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

Book Value per share (Rs/Share)

FY23

14.3%

0.15

10.6%

22.2%

1851

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

Rs Crs

Particulars

Capacity (MTPA)

Total Sales Volume (MnT)

Net Sales

EBITDA

EBIT

Profit Before Tax

Tax Expenses

Net Earnings after minority interest

Cash Earnings

Key Ratios

Q4FY23 Q3FY23 Q2FY23 Q1FY23 Q4FY22 Q3FY22 Q2FY22 Q1FY22 Q4FY21 Q3FY21 Q2FY21 Q1FY21 Q4FY20

132.4

31.65

126.8

25.86

121.3

120.0

118.0

116.8

23.1

25.0

27.7

23.1

21.6

21.5

27.8

23.9

20.0

14.7

21.7

18,436

15,299

13,596

15,007

15,557

12,710

11,743

11,698

14,232

12,144

10,264

7,600

10,689

3,444

2,682

2,491

822

2,462

1,739

1,524

465

1,666

1,058

2,013

1,305

1,105

344

756

3,204

2,509

2,293

711

3,165

2,462

2,255

785

2,490

1,816

1,633

459

2,855

2,177

1,947

637

3,512

2,853

2,526

827

3,751

3,053 2,676$

865

3,362

2,688

2,332

747

2,833

2,356

2,156 1,798$

1,705 1,311$

566

360

1,584

1,478

1,173

1,314

1,703

1,814$

1,584

1,229$

902$

2,645

1,967

1,461

334

* 1,129

2,452

1,867

1,530

2,381

3,277

2,051

2,012

2,382

2,859

2,597

2,236

1,594

1,891

Q4FY23 Q3FY23 Q2FY23 Q1FY23 Q4FY22 Q3FY22 Q2FY22 Q1FY22 Q4FY21 Q3FY21 Q2FY21 Q1FY21 Q4FY20

Capacity Utilisation (%)

94%

82%

75%

82%

89%

75%

71%

72%

92%

81%

65%

47%

74%

Blended Realisation (Rs/mt)

5,824

5,916

5,885

5,993

5,618

5,496

5,425

5,434

5,123

5,077

5,120

5,180

4,920

EBITDA Margin

EBIDTA (Rs/mt)

19%

1,088

Normalized EPS (Rs/share)

16%

952

15%

871

21%

20%

24%

30%

26%

28%

31%

25%

1,279

1,143

1,077

1,319

1,632

1,350

1,406

1,413

1,606

1,217

# 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%)

Annual Performance Trends - Consolidated

Particulars Capacity (MTPA)

Total Cement Volume (MnT)

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)

FY23

132.4

105.7

62,338

111,23

8,235

7,412

2,343

5,064

9,752

FY23

84%

5,897

18%

1,052

175.6

FY22

120

94.0

51,708

12,022

9,307

8,363

2,708

5,667

9,721

FY22

77%

5,501

23%

1,279

196.0

FY21

116.8

86.4

44,239

12,302

9,602 8,116$

2,539

5,530 $

9,286

FY21

70%

5,119

28%

1,424

191.7

FY20

116.8

83.1

FY19

115.4

86.0

FY18

89.0

64.6

FY17

70.3

53.7

FY16

67.7

52.6

FY15

63.2

49.4

Rs Crs FY14

57.0

45.8

41,781

41,052

30,541

25,092

24,880

24,056

21,443

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

6,734

4,765

3,301

1,077

5,861

4,512

3,872

1,159

5,365

3,988

3,421

942

4,776

3,572

2,986

884

4,358

3,219

2,858

645

2,391

2,222

2,715

2,478

2,098

2,206

5,192

4,777

4,404

4,166

3,680

3,424

FY19

73%

4,771

19%

907

84.0

FY18

72%

4,728

22%

1,042

80.9

FY17

74%

4,671

23%

1,091

98.9

FY16

77%

FY15

76%

FY14

80%

4,727

4,869

4,682

22%

1,019

90.3

20%

967

76.5

20%

951

80.5

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

FY23

FY22

FY21

FY20

FY19

FY18

FY17

FY16

FY15

FY14

Net Fixed Assets (Incl. Goodwill)

64,987

61,606

58,775

60,258

61,200

43,332

27,124

27,233

26,239

21,057

Rs Crs

Investments in Subs/Associates/JVs

1,017

101

(2,669)

(1,357)

(1,918)

633

1,135

266

(188)

667

780

902

63,335

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)

54,380

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

9,901

7,199

2,702

6,254

10,203

20,488

23,019

25,455

19,480

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

63,335

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)

FY23

14.5%

0.24

11.0%

1886

FY22

17.2%

0.32

FY21

18.9%

0.55

FY20

13.1%

1.72

13.8%

15.6%

12.1%

1747

1531

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

FY15

13.7%

1.09

FY14

15.3%

0.57

11.9%

11.0%

12.8%

800

694

627

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

Glossary

➢ MNT - Million Metric Tons

➢ WHRS - Waste Heat Recovery System

➢ LMT - Lakh Metric Tons

➢ MTPA - Million Tons Per Annum

➢ LTPA - Lacs 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)

➢ Green power Mix includes WHRS, captive renewable power and

renewable power mix in grid power consumption

➢ EBITDA = Profit Before Tax plus Finance Cost and Depreciation

➢ Net Debt = Gross Debt less Liquid Investments

➢ ROCE = Earnings before interest and taxes/Capital Employed excl.

Goodwill

➢ ROE = Normalised PAT/ Equity excluding Goodwill

➢ Capacity Utilisation = Total Production/Effective Capacity

➢ EBITDA Margin = EBITDA/Net Sales

➢ GCCA – Global Cement and Concrete Association

➢ PMAY - Pradhan Mantri Awas Yojana

➢ ESG - Environmental, Social, and Governance

➢ TCFD - Task Force on Climate-related Financial Disclosures

➢ GHG - Green House Gases

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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