Balrampur Chini Mills Limited

16%

lt of our strong and ongoing collaboration with the farming community. Building on the remarkable ~16% increase in crushing in the last season, our field teams have been intensively engaging with farme

10%

e, as well as to increase acreage and yields. These concerted efforts should lead to a projected ~10% increase in sugarcane crushing in this season. I am pleased to share that the Board of Directors a

Rs. 3.00

d to share that the Board of Directors at its meeting held today has announced interim dividend of Rs. 3.00 (300%) per Equity share of Rs.1/- each leading to outflow of Rs. 60.52 crores. Over the years, the

300%

that the Board of Directors at its meeting held today has announced interim dividend of Rs. 3.00 (300%) per Equity share of Rs.1/- each leading to outflow of Rs. 60.52 crores. Over the years, the inte

Rs.1

rs at its meeting held today has announced interim dividend of Rs. 3.00 (300%) per Equity share of Rs.1/- each leading to outflow of Rs. 60.52 crores. Over the years, the integrated operations have all

Rs. 60.52 crore

nnounced interim dividend of Rs. 3.00 (300%) per Equity share of Rs.1/- each leading to outflow of Rs. 60.52 crores. Over the years, the integrated operations have allowed us to maintain a robust balance sheet an

rs,

. 3.00 (300%) per Equity share of Rs.1/- each leading to outflow of Rs. 60.52 crores. Over the years, the integrated operations have allowed us to maintain a robust balance sheet and generate healthy c

Rs. 8812.41

y (MW) Among the largest integrated sugar companies Principle business sugar + distillery Rs. 8812.41 cr. market capitalization as on 30th September 2023 42.90% promoter shareholding as on 30th

42.90%

business sugar + distillery Rs. 8812.41 cr. market capitalization as on 30th September 2023 42.90% promoter shareholding as on 30th September 2023 * 2,000 TCD expansion under implementation 6

rs 7

mber 2023 * 2,000 TCD expansion under implementation 6 ➢ PART ONE Q2FY24 performance in numbers 7 Consolidated Financial Performance Revenue (Rs. Cr.) 2,929.1 2,193.2 1,113.1 1,539.5 H1 F

14.5%

1,113.1 1,539.5 H1 FY23 H1 FY24 Q2 FY23 Q2 FY24 PBT (Rs. cr) PBT Margin (%) 329.6 222.9 14.5% TCI (Rs. cr) TCI Margin (%) 8.2% 11.0% EPS (Rs.) (0.9%) 11.3% -19.4 -3.4% -37.3 H1 FY23

8.2%

Q2 FY23 Q2 FY24 PBT (Rs. cr) PBT Margin (%) 329.6 222.9 14.5% TCI (Rs. cr) TCI Margin (%) 8.2% 11.0% EPS (Rs.) (0.9%) 11.3% -19.4 -3.4% -37.3 H1 FY23 H1 FY24 Q2 FY23 Q2 FY24 -1.1% 2

“14.06 crores Higher interest rates & Deployment of internal accruals into project resulting in higher working capital deployment to fund operations Depreciation and amortization expense 28.35 41.24 45.5% Impact of capex Other expenses 67.65 111.56 64.9% Higher despatches leading to increased freight charges for Ethanol FOR contracts.”

“– • • • • Recycling Replacement (Restoration) Reduction Renewables We achieved zero liquid discharge target in all our distilleries and are now targeting zero water drawal in sugar units.”

Note

2

Transfer Price

1

Global Price Outlook

1

Global Consumption Outlook

1

Bonsucro Certification

1

For further information contact

1

Note

• Consolidated results of the Company for the period ended 30th September 2023 includes results of Associate of the Company viz. Auxilo Finserve Pvt. Ltd. TCI - Total Comprehensive Income 8 This is what we achieved in Q2 FY24 (standalone numbers) 108.85 Rs. cr. of total comprehensive income (TCI) 164.89 Rs. cr. of EBITDA 5.27 Rs. earnings per share Rs. (38.27) cr. in the corresponding quarter, Q2 FY23 Rs. (15.94) cr. in the corresponding quarter, Q2 FY23 Rs. (1.53) in the corresponding quarter, Q2 FY23 66.26% 33.43% 0.31% % revenues from sugar % revenues from distillery % revenues from others 79.91% in the corresponding quarter, Q2 FY23 19.62% in the corresponding quarter, Q2 FY23 0.47 in the corresponding quarter, Q2 FY23 9 Financial Performance (standalone numbers) Revenue (Rs. Cr.) 2,929.1 2,193.2 EBITDA (Rs. cr) EBITDA Margin (%) PBT (Rs. cr) PBT Margin (%) 10.7% 8.4% 9.4% 1,539.5 1,113.1 11.2% 1.3% H1 FY23 H1 FY24 Q2 FY23 Q2 FY24 28.5 328.1 H1 FY23 H1 FY24 -1.4% -15.9 Q2 FY23 164.

Note

❖ Cost of production (including cane cost) is net of credit for bagasse, molasses, syrup and pressmud ❖ Sugar inventory being valued at lower of net realizable value (NRV) or cumulative year to date costing * Cost of production as calculated above is excluding the cane crush under sugar syrup route: FY23 - 85.79 lac qlts H1FY24 – 10.79 lac qtls. 18 This is the outlook of sugar business This is what our sugar business achieved ➢ Expectation of higher cane availability in the current season for the Company ➢ Improvement in varietal balance and conducive weather conditions may lead to enhanced sugar recoveries ➢ With moderation of inventory, domestic sugar realization to improve ➢ Expansion of crushing capacity at Kumbhi unit by 2000 TCD is under implementation. 19 Business Overview - Sugar Business overview: Distillery Distillery revenues 559.70 Rs. cr. Q2 FY24 229.87 Rs. cr. Q2 FY23 143.49% higher revenues Distillery PBIT 109.32 Rs. cr. Q2 FY24 72.97 Rs. cr. Q2 FY23 49.81% higher PBIT 3

Transfer Price

FY20 FY21 FY22 FY23 H1FY23 H1FY24 Ethanol Sales from C-heavy molasses route (Cr BL) ENA & Other Products Sales (Cr BL) B-heavy molasses (Rs./quintal) 700 700 1030 w.e.f Oct-21 1090 w.e.f Dec-22 1030 1090 10.79 8.37 4.94 1.10 0.64 0.31 1.01 1.99 1.96 2.70 Syrup (Rs./quintal) FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 N.A. N.A. N.A. 1709 N.A. 1853 23 This is the outlook of distillery business This is what our sugar business achieved ➢ Profitable foundation for sustainable growth Company Ethanol update ESY 2022-23 ➢ Ethanol prices under the EBP Programme for ESY 2022-23 are as under: C-route B-route Syrup Damaged Grains Surplus Rice (ESY 2022-23) 49.41 60.73 65.61 64.00 58.50 (including incentive w.e.f. Aug.23) - - - (8.46) - (ESY 2021-22) 47.84 60.57 65.05 55.26 58.31 (including incentive w.e.f. 1st June,22) (1.18) (1.49) (1.60) (2.34) (1.44) Contract (Cr BL) Supply (Cr BL) 12.46 12.79 7.83 8.30 Syrup route B-heavy route 0.35 0.38 C heavy route 5.63 3.58 Rice route Company supplie

Global Consumption Outlook

• Increase in consumption will help check the inventory. • NY11 raw sugar price is expected to remain strong with upward bias. • Brazilian currency value to play an important role on the prices. 31 Domestic Sugar Balance Sheet ( metric million tonnes) Sugar Season 2022-23 Sugar Season 2023-24 (Estimated) 32.80 27.85 29.5-30.0 28.70 7.00 6.40 5.55 5.55 ** 6.35-6.85 Opening Stock Production Domestic Consumption Exports Closing Stock Opening Stock Production Domestic Consumption Exports Closing Stock ** Expected to be Nil in view of lower production estimates Managed demand/supply, robust ethanol blending policies, robust exports. Moderating the sugar inventory and supporting the domestic sugar prices India’s sugar inventory is moderating 32 ➢ PART SIX ESG and enhanced stakeholder value 33 Our ESG vision ESG represents the soul of what we are and what we seek to be The relevance of same to Company’s business The nature of our energy products: Ethanol helps moderate air pollution while co-

Bonsucro Certification

Balrampur Chini Mills demonstrated the operation of a management system that is compliant with the requirements of: Bonsucro Smallholder Production Standard for Smallholder Farmers; Bonsucro Production Standard and Bonsucro Mass Balance Chain of Custody The Rauzagaon unit achieved a compliance certificate for the following parameters with other Bonsucro indicators. Lifetime Achievement Award to Late Meenakshi Saraogi by the Uttar Pradesh government 7th ICSI CSR Excellence Awards Golden Peacock award for Corporate Social Responsibility Environment Social Economic / Governance 38 Board of Directors Vivek Saraogi - Chairman and Managing Director ➢ An eminent industrialist, is a veteran in the sugar industry and has the Indian Sugar Mills the youngest president of been one of Association. ➢ Former committee member of FICCI & the Indian Chamber of Commerce in Kolkata. ➢ Under his stewardship and able leadership, the Company has grown leaps and bounds through organic and inorganic means enab

For further information contact

Pramod Patwari Chief Financial Officer Balrampur Chini Mills Limited Tel : +91 33 2287 4749 Email: pramod.patwari@bcml.in Anoop Poojari CDR India Tel: +91 98330 90434/ 98330 10478 Email: anoop@cdr-india.com karl@cdr-india.com is one of Balrampur Chini Mills Limited (BCML) the largest integrated sugar companies in India. The allied businesses of the Company comprise distillery operations and cogeneration of power. The Company presently has ten sugar factories located in Uttar Pradesh (India) having an aggregate sugarcane crushing under capacity implementation), distillery and co-generation operations of 1050 KLPD and 175.7 MW (Saleable) respectively. 80,000 TCD (2,000 TCD expansion of BCML is one of the most efficient integrated sugar producers in the country. The Company has grown its capacity by well-planned capacity expansion projects and the acquisition of existing companies. For more information on the Company, please log on to www.chini.com Registered Office: FMC Fortuna, 2nd Floo