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) 710 611 829 21

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) 710 611 829 2188 1

40 MW

• Caustic Potash – • Caustic Soda – 167 21 KTPA • Caustic Soda – 119 KTPA KTPA • CPP – 40 MW • CPP – 60 MW Converted all Membrane to Zero Gap Commissioned • Chloromethanes – 50 KTPA

60 MW

h – • Caustic Soda – 167 21 KTPA • Caustic Soda – 119 KTPA KTPA • CPP – 40 MW • CPP – 60 MW Converted all Membrane to Zero Gap Commissioned • Chloromethanes – 50 KTPA Announced Cape

96 MW

ndependent entity on 18th August 2021 Increased capacity to • Caustic Soda – 294 KTPA • CPP 96 MW Awarded “Responsible Care” Certificate Announced Capex • Chlorotoluene & Value Chain • Sett

132 MW

hydrin – 50 KTPA • CPVC Resin – 30 KTPA Increased capacity to Caustic Soda – 400 KTPA CPP – 132 MW Announced Capex • 18.34 MW Green Hybrid Power Plant • CPVC Resin – 45 KTPA Renamed company

18.34 MW

Resin – 30 KTPA Increased capacity to Caustic Soda – 400 KTPA CPP – 132 MW Announced Capex • 18.34 MW Green Hybrid Power Plant • CPVC Resin – 45 KTPA Renamed company from Meghmani Finechem to E

8%

n Chlor-Alkali Caustic Soda (NaOH)  India’s NaOH Requirement: ~ 4,500 KTPA  Demand CAGR: ~ 8% Caustic Potash (KOH)  India’s KOH Requirement: 94 KTPA  Demand CAGR: ~ 8% A l u m i n a T

5.0 million

stries are alumina, textile, chemical, etc. o Demand for Caustic Soda is expected to increase to 5.0 million ton by FY2025 o Co-products are key raw material for our value added downstream products (CMS, H

12%

Derivative Products Chloromethanes (CMS)  India’s CMS Requirement: 580 KTPA  Demand CAGR: ~ 12% Hydrogen Peroxide (H2O2)  India’s H2O2 Requirement: 340 KTPA  Demand CAGR: ~ 10% S o l v e

“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) 710 611 829 2188 1551”

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) 710 611 829 2188 1551

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 FY 2007 FY 2010 FY 2015 FY 2017 FY 2020 Epigral Ltd (MFL) incorporated Commissioned 1st Plant Increased capacity to Commissioned • Caustic Potash – • Caustic Soda – 167 21 KTPA • Caustic Soda – 119 KTPA KTPA • CPP – 40 MW • CPP – 60 MW Converted all Membrane to Zero Gap Commissioned • Chloromethanes – 50 KTPA Announced Capex • Epichlorohydrin – 50 KTPA FY 2021 FY 2022 FY 2023 FY 2024 Commissioned • Hydrogen Peroxide – 60 KTPA Listed as an independent entity on 18th August 2021 Increased capacity to • Caustic Soda – 294 KTPA • CPP 96 MW Awarded “Responsible Care” Certificate Announced Capex • Chlorotoluene & Value Chain • Setting up R&D Centre Commissioned • Epichlorohydrin – 50 KTPA • CPVC Resin – 30 KTPA Increased capacity to

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 FY2023 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 FY2023 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 (%)