Epigral Limited

30%

ity: Chlor-Alkali# – 421 KTPA Derivatives# – 190 KTPA Certified: Responsible Care Certificate 30% 22% 5 Year Revenue CAGR (FY23) 5 Year EBITDA CAGR (FY23) 0.8x 32% Debt to Equity (FY23)

22%

hlor-Alkali# – 421 KTPA Derivatives# – 190 KTPA Certified: Responsible Care Certificate 30% 22% 5 Year Revenue CAGR (FY23) 5 Year EBITDA CAGR (FY23) 0.8x 32% Debt to Equity (FY23) ROC

0.8x

Responsible Care Certificate 30% 22% 5 Year Revenue CAGR (FY23) 5 Year EBITDA CAGR (FY23) 0.8x 32% Debt to Equity (FY23) ROCE (FY23) Revenue from operations (₹ Cr) 2188 1551 710

32%

ible Care Certificate 30% 22% 5 Year Revenue CAGR (FY23) 5 Year EBITDA CAGR (FY23) 0.8x 32% Debt to Equity (FY23) ROCE (FY23) Revenue from operations (₹ Cr) 2188 1551 710 611

40MW

oxide - 60 KTPA Our Journey FY2010 Commissioned Greenfield Caustic Soda -119 KTPA CPP - 40MW FY2007 Epigral (MFL) incorporated as Subsidiary of MOL FY2015 Commissioned and increas

60 MW

bsidiary of MOL FY2015 Commissioned and increased capacity Caustic Soda -167 KTPA CPP – 60 MW FY2017 Commissioned KOH – 21KTPA Converted all Membrane to Zero Gap FY2020 Commission

96 MW

g up R&D Centre FY2021 Commissioned and increased capacity Caustic Soda - 294 KTPA CPP – 96 MW H2O2 – 60 KTPA Awarded – “Responsible Care” certificate FY2023 Commissioned and increa

132 MW

ed capacity Epichlorohydrin – 50 KTPA CPVC Resin – 30 KTPA Caustic Soda – 400 KTPA CPP – 132 MW Setting 18.34 MW Wind- Solar Hybrid Power Plant Announced Expansion – CPVC Resin 45 KTPA

18.34 MW

ichlorohydrin – 50 KTPA CPVC Resin – 30 KTPA Caustic Soda – 400 KTPA CPP – 132 MW Setting 18.34 MW Wind- Solar Hybrid Power Plant Announced Expansion – CPVC Resin 45 KTPA

13%

Refrigerant Gas Water Treatment Electronics The addressable market for Epigral is growing ~10-13% in the next 5 years Capacities 400 45 30 Manufacturing Plant Capacity (KTPA) Q4FY24 Q

₹2,188

ing, * Commissioning date Transitioning towards Derivatives & Specialty Chemicals 30% FY2023 ₹2,188 Cr Derivatives 26% 70% <40% FY2027(E) ₹5,000 Cr >60% Derivatives & Specialty Chlor-Al

26%

Transitioning towards Derivatives & Specialty Chemicals 30% FY2023 ₹2,188 Cr Derivatives 26% 70% <40% FY2027(E) ₹5,000 Cr >60% Derivatives & Specialty Chlor-Alkali Derivatives & S

“Responsible Care Certificate 30% 22% 5 Year Revenue CAGR (FY23) 5 Year EBITDA CAGR (FY23) 0.8x 32% Debt to Equity (FY23) ROCE (FY23) Revenue from operations (₹ Cr) 2188 1551 710 611 829 5,000 FY27E”

“o 95% of CPVC resin demand was served through import (before Epigral commissioned its plant) Chlorotoluene & Value Chain Project Details Rationale o Capex for the project will be ₹ 180 Cr and expected o Foundation for the next phase of growth in Specialty revenue of Rs.”

Founded

1

Employees

1

Certified

1

Manufacturing facility

1

Integration

1

New Value Chains

1

Certified

Responsible Care Certificate 30% 22% 5 Year Revenue CAGR (FY23) 5 Year EBITDA CAGR (FY23) 0.8x 32% Debt to Equity (FY23) ROCE (FY23) Revenue from operations (₹ Cr) 2188 1551 710 611 829 5,000 FY27E

Manufacturing facility

Fully-integrated & automated complex FY19 FY18 FY21 FY22 FY23 # Chlor-Alkali : Caustic Soda - 400 KTPA and Caustic Potash - 21 KTPA Derivatives : CPVC Resin – 30 KTPA, Epichlorohydrin – 50 KTPA, Chloromethanes - 50 KTPA and Hydrogen Peroxide - 60 KTPA Our Journey FY2010 Commissioned Greenfield Caustic Soda -119 KTPA CPP - 40MW FY2007 Epigral (MFL) incorporated as Subsidiary of MOL FY2015 Commissioned and increased capacity Caustic Soda -167 KTPA CPP – 60 MW FY2017 Commissioned KOH – 21KTPA Converted all Membrane to Zero Gap FY2020 Commissioned CMS - 50 KTPA Announced expansion in ECH - 50 KTPA FY2022 Listed as an independent entity on 18th August 2021 Announced expansion in Chlorotoluene & its value chain Setting up R&D Centre FY2021 Commissioned and increased capacity Caustic Soda - 294 KTPA CPP – 96 MW H2O2 – 60 KTPA Awarded – “Responsible Care” certificate FY2023 Commissioned and increased capacity Epichlorohydrin – 50 KTPA CPVC Resin – 30 KTPA Caustic Soda – 400 KTPA CPP – 132 MW S

Integration

o Scale up capacities in existing products o New value added products in existing value chains o Improved market position Opportunities in high growth sectors: o Explore opportunities in various sectors o Increase presence & improve market share o Entering into products which are fully imported

New Value Chains

o Expand chemistry expertise to enter new value chains (specialty chemicals) o Addition of new reaction capabilities Achieving economies of scale: o Optimising existing complex o Achieving efficiency operations to become a low cost producer Vision – To achieve revenue of ₹ 5,000 Cr by FY2027 Financial Performance – P&L Revenue from operations (₹ Cr) EBIDTA (₹ Cr and %) PAT (₹ Cr and %) 2,188 44% 1,551 32% 32% 829 710 611 312 261 194 25% 31% 689 33% 509 18% 16% 16% 12% 353 253 183 112 101 FY2019 FY2020 FY2021 FY2022 FY2021 FY2019 FY2020 FY2021 FY2022 FY2023 FY2019 FY2020 FY2021 FY2022 FY2023 Balance Sheet Ratios ROCE (%) ROE (%) Net Debt/EBITDA (x) 36% 36% 36% 39% 32% 29% 15% 16% 21% 16% 2.7 2.1 1.9 1.3 1.3 FY2019 FY2020 FY2021 FY2022 FY2021 FY2019 FY2020 FY2021 FY2022 FY2023 FY2019 FY2020 FY2021 FY2022 FY2023 Historic Income Statement Particulars (₹ Cr) FY19 FY20 FY21 Total Revenue Gross Profit* Gross Margin (%) EBITDA EBITDA Margin (%) Depreciation Finance Cost PBT PAT PAT Margin (%)