TATVANSE2 November 2023

Tatva Chintan Pharma Chem Limited has informed the Exchange about Investor Presentation

Tatva Chintan Pharma Chem Limited

Date: 02 November 2023

Ref. No.: TCPCL/SEC/2023-24/00070

To, The General Manager, Corporate relationship department, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai-400 001 Scrip Code: 543321

The Manager,

Listing department,

National Stock Exchange of India Limited

Exchange Plaza, C-1, Block-G, Bandra-Kurla Complex, Bandra(E),

Mumbai-400 051

Scrip Symbol: TATVA

Subject: Investor Presentation

Dear Sir/Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please find enclosed Investor Presentation for the quarter and half year ended 30 September 2023.

The above information shall be made available on the website of the Company at www.tatvachintan.com.

This is for your information and records.

Thanking You,

Yours Faithfully, For Tatva Chintan Pharma Chem Limited

___________ Ishwar Nayi Company Secretary and Compliance Officer M. No.: A37444

Encl.: As above

Investor Presentation

Tatva Chintan Pharma Chem Limited (TCPCL)

Q 2 F Y 2 4

0 2 N o v e m b e r 2 0 2 3

Contents

Q2FY24 Financial Performance

Expansive international presence with Marquee clientele

TATVA CHINTAN at Glance Product Categories

Leading Sustainable practices coupled with cutting edge technology

Why TATVA CHINTAN

Industry Outlook

Our Business

Consolidated Financial Performance

Q2FY24 & H1FY24: Financial Result highlights

Q2FY24 HIGHLIGHTS Revenue from Operations 1 (In ₹ Mn)

EBIDTA (Excl. Other Income & EBIDTA Margin 1 (In ₹ Mn, %)

250

4 4 1 1

7 6 9

1 0 9

200

150

100

2 1 1

12%

7% YoY

3 1 2

2 0 2

19%

21%

Q2FY23

Q1FY24

Q2FY24

H1FY24 HIGHLIGHTS Revenue from Operations1 (In ₹ Mn)

0 1 1 2

18% YoY

5 8 7 1

Q2FY23

Q1FY24

Q2FY24

EBITDA (Incl. Other Income)

EBIDTA (Excl. Other Income & EBIDTA Margin 1 (In ₹ Mn, %)

20%

6 1 4

15%

4 6 2

450

400

350

300

250

200

150

100

H1FY23

H1FY24

Notes: (1) Numbers have been rounded off

H1FY23 EBITDA (Incl.

H1FY24 EBITDA Margin

55%

45%

35%

25%

15%

-5%

25%

20%

15%

10%

81% YoY

58% YoY

PAT & PAT Margin 1 (In ₹ Mn, %)

5 9

8 7

1 7

100

Q2FY23

Q1FY24

Q2FY24

PAT

PAT Margin

PAT & PAT Margin 1 (In ₹ Mn, %)

174

173

172

171

170

169

168

167

9 6 1

H1FY23 PAT

3 7 1

H1FY24 PAT Margin

20%

18%

16%

14%

12%

10%

9% YoY

57% YoY

EPS (In ₹)

5.00

4.50

4.00

3.50

3.00

2.50

2.00

1.50

1.00

0.50

0.00

1 2 3

9 2 4

3 4 3

Q2FY23

Q1FY24

Q2FY24

EPS (In ₹)

7.74

7.72

7.70

7.68

7.66

7.64

7.62

7.60

7.58

3 6 7

2 7 7

H1FY23

H1FY24

Tatva Chintan Pharma Chem Limited

Q2FY24 & H1FY24: Consolidated P&L

Particulars (₹ Mn)

Q2 FY24

Q2 FY23

YoY (%)

Q1 FY24

QoQ (%)

H1FY24

H1FY23

YoY (%)

Revenue from Operation

966.69

900.91

7.30%

1,143.64

-15.47%

2,110.33

1,784.93

18.23%

Total Income

974.25

920.37

5.85%

1,153.79

-15.56%

2,128.04

1,823.15

16.27%

EBITDA (Excl. Other Income)

202.48

111.76

81.17%

213.43

-5.13%

415.91

263.92

57.59%

EBITDA Margin

20.95%

12.41%

18.66%

19.71%

14.79%

Profit Before Tax

112.13

90.57

23.80%

134.20

-16.45%

246.33

227.52

8.27%

Profit after Tax

77.81

71.11

9.42%

95.04

-18.13%

172.85

169.09

2.22%

PAT Margin

8.05%

7.89%

8.31%

8.19%

9.47%

Tatva Chintan Pharma Chem Limited

Q2FY24 & H1FY24 : Operational highlights

OPERATING REVENUE SPLIT (IN %)

Q2FY24

H1FY24

PTC

SDA

ELECTROLYTE SALTS

PASC

OTHERS

24%

44%

30%

PTC

SDA

ELECTROLYTE SALTS

PASC

OTHERS

26%

44%

28%

Tatva Chintan Pharma Chem Limited

Chairman & MD’s Comments on Results

“

We continue to grow organically by incorporating innovative ideas across operations, increased our product portfolio across product categories and optimally managed the product mix.

“

Mr. Chintan Shah

M D TAT V A C H I N TA N P H A R M A C H E M L I M I T E D

• During Q2FY24, the company reported revenue from operations of ₹ 967 million, a growth of 7% YoY. EBITDA during the quarter was at ₹ 202 million, a growth of 81% YoY. EBIDTA margins were at 20.9% v/s 12.4% in Q2FY23

• During H1FY24, the company reported revenue from operations of ₹ 2,110 million, a growth of 18% YoY. EBITDA during the half year end was at ₹ 416 million, a growth of 58% YoY. EBIDTA margins were at 19.7% v/s 14.8% in H1FY23.

• The chemical

industry continues to face several challenges. The demand has continued to remain low due to ongoing efforts of industry to reduce inventory to realistic levels. The anticipated increase in product pricing also remained short lived due to low-cost products being made available by Chinese companies. With the new geopolitical situation in the middle east, the uncertainties continue to remain high. Until now, we have not felt any major implication of this event.

• Despite of these challenges, your company has performed reasonably well. The diversified portfolio of products has helped us sustain well during these difficult times.

• In August 2023, the company raised ₹ 200 crore by the way of Qualified Institutional Placement. The funds raised will be utilized towards repayment in full or in part, of certain outstanding borrowings availed by the Company and for general corporate purpose.

Tatva Chintan Pharma Chem Limited

Consolidated Annualized Financial Highlights

REVENUE FROM OPERATIONS1 (IN ₹ MN)

6 3 3 4

6 3 2 4

2 3 6 2

4 0 0 3

PROFITABILITY1 (IN ₹ MN) EBITDA (Excluding Other Income) & EBITDA Margin

21%

22%

25%

14%

20%

PAT & PAT Margin

14%

17%

22%

11%

0 1 1 2

20% CAGR*

0 5 5

4 6 6

2 8 0 1

6 0 6

6 1 4

16% CAGR*

8 7 3

3 2 5

9 5 9

5 5 4

3 7 1

22% CAGR*

FY20

FY21

FY22

Revenue from Operations

FY23

H1FY24 Other Income

FY20

FY21

FY22

FY23

H1FY24

FY20

FY21

FY22

FY23

H1FY24

EBITDA

EBITDA Margin

PAT

PAT Margin

BALANCE SHEET RATIOS

RoE (IN %)

% 1 2 3

% 5 1 3

FY20

FY21

Notes: (1) Numbers have been rounded off * CAGR: FY19 to FY23

Net Debt to Equity (x)

Net Debt to EBIDTA (x)

% 3 0 2

FY22

% 8 8

FY23

7 7 0

4 5 0

5 2 0

3 3 0

FY20

FY21

FY22

FY23

1 6 1

FY20

6 2 1

FY21

7 5

2 0 1

FY22

FY23

Tatva Chintan Pharma Chem Limited

Consolidated Statement of Profit & Loss

Particulars (₹ Mn)

Income

Revenue from operations

Total Income

Expenses

Cost of Goods Sold

Employee Benefit Expenses

Finance costs

Depreciation and amortization expense

Other expenses

Total expenses

Profit before exceptional items and tax

Profit before tax

Total Tax

Profit after tax

Earnings Per Share (EPS) ₹

31 March 2019 Audited

31 March 2020 Audited

31 March 2021 Audited

31 March 2022 Audited

31 March 2023 Audited

30 Sep 2023 Un-Audited

As at

2,063.07

2,068.01

2,632.39

2,646.22

3,003.59

3,055.59

4,336.47

4,426.64

4,236.12 4,293.56

2,110.33 2,128.04

1,142.41

163.13

36.34

40.18

419.51

1,801.57

266.44

273.93

68.50

205.43

10.23

1,327.67

205.29

39.45

47.93

549.91

2,170.25

475.97

98.08

377.89

18.81

1,520.05

238.02

42.07

67.33

581.16

2,448.63

606.96

84.34

522.62

26.02

1,946.39

308.18

49.51

81.80

999.55

3,385.43

1,041.21

82.47

958.74

44.59

2,261.01

385.98

84.04

95.55 983.32

953.62

256.31

59.40

127.89 484.49

3,809.90

1,881.71

483.66

447.79

-7.08

454.87

20.52

246.33

245.89

73.48

172.85

7.72

Tatva Chintan Pharma Chem Limited

Consolidated Statement of Balance Sheet

Particulars (₹ Mn)

Assets Fixed Assets Capital work-in-progress Intangible assets Other non-current assets Trade Receivable Cash and cash equivalents including Bank Balance Total current assets Total Assets Equity Equity share capital Tangible Net worth Liabilities Non-current liabilities

(i) Long-term Borrowings (ii) Other non current liabilities

Total non current liabilities Current liabilities

(i) Short-term Borrowings including current

maturities (ii) Trade Payables (ii) Other liabilities Total current liabilities Total Equity and Liabilities

31 March 2019 Audited

31 March 2020 Audited

31 March 2021 Audited

31 March 2022 Audited

31 March 2023 Audited

30 Sep 2023 Un-Audited

As at

665.75 60.36 1.38 3.75 412.57 157.45 1,143.84 1,875.08

80.35 797.00

315.19 36.37 351.56

456.29

221.34 48.89 726.52 1,875.08

1,110.60 48.92 1.20 1.67 495.71 108.29 1,326.99 2,489.38

80.35 1,176.94

387.09 48.85 435.94

519.80

316.13 40.57 876.50 2,489.38

1,203.51 98.11 0.95 2.96 907.43 53.42 1,842.50 3,148.03

200.88 1,659.64

267.63 40.61 308.24

634.85

474.77 70.53 1,180.15 3,148.03

1,592.96 514.91 3.17 113.12 565.98 1,769.86 4,356.39 6,580.55

221.65 4,730.89

131.11 6.59 137.70

1,068.27

445.13 198.56 1,711.96 6,580.55

1,957.71 2,307.44 4.76 157.54 844.03 447.61 3,135.55 7,563.00

221.65 5,147.91

42.30 11.45 53.75

1,660.27

321.88 379.19 2,361.34 7,563.00

4,348.38 199.48 4.83 141.13 595.92 1,257.26 3,708.59 8,402.41

233.92 7,273.62

16.82 11.45 28.27

593.26

212.66 294.60 1,100.52 8,402.41

Tatva Chintan Pharma Chem Limited

TATVA CHINTAN at Glance

INTEGRATED SPECIALTY CHEMICAL COMPANY, PRESENT ACROSS THE VALUE CHAIN

• Established by first generation entrepreneur engineers in

1996

• Plants located at Ankleshwar and Dahej SEZ, Gujarat with an existing combined installed capacity of 500KL & 39 Assembly Lines as on 30 September 2023

• Sophisticated R&D Unit recognized by DSIR at Vadodara,

Gujarat

• Pioneers in processes such as conventional synthesis,

electrolysis and developing continuous flow chemistry which is a green chemistry and generates higher efficiencies

Phase Transfer Catalyst (PTC)

Structure Directing Agents (SDA)

• Listed on NSE and BSE on 29 July 2021

Electrolyte Salts

• Customer Base spanning over 25 Countries including USA,

UK, China, Germany, Japan and South Africa. Exports constitute 72% of revenue in FY23. Overseas subsidiaries in USA & Netherlands provides off-shore support

• Credit Rating of CRISIL A- Stable/ A2+

Pharma & Agrochemical Intermediates (PASC)

Manufacturing Products

Revenue Split – FY23

FY23

PTC

SDA

ELECTROLYTE SALTS

PASC

OTHERS

34%

30%

32%

Tatva Chintan Pharma Chem Limited

Product Categories

Phase Transfer Catalyst (PTC) – a Catalyst with Innumerable Benefits

WHAT ARE PTC? • PTC are used to facilitate the

migration of a reactant from one phase into another phase, in a heterogeneous multi-phase system

• The catalyst functions as a

detergent for solubilizing the salts into the organic phase

• PTCs have evolved as a useful

catalyst that has varied advantages

BENEFITS • Offers faster reactions

• Higher conversion or yields,

• Makes fewer by products,

• Enables lesser energy consumption, at times eliminates the need for expensive or dangerous solvents,

• Minimizes waste and saves time

DEMAND DRIVERS • Rising demand for technologically advanced environment-friendly catalyst

• Push for greener chemistry in

organic synthesis

• PTC's have evolved as a very useful catalyst that has varied advantages and these are non regenerative type of catalyst which generates recurring demands.

END USER INDUSTRY APPLICATION

Pharmaceutical API’s

Flavors and Fragrances

Agrochemicals

Environment Control Processes

TATVA CHINTAN’S PRESENCE IN PTC

1996

Manufacturing since

₹1,432 mn

Revenue in FY23

₹547 mn

Revenue in H1FY24

34%

of Revenue

26%

of Revenue

One of the leading producers with entire wide range of PTCs in India and one of the key producers across the globe

Tatva Chintan Pharma Chem Limited

Structure Directing Agents (SDA) – an important ingredient for making the world more sustainable

WHAT ARE SDA? • High purity Quaternary salts that

helps in the formation of channels/pores during the synthesis of zeolites. High purity and consistent quality SDAs are essential for the synthesis of precision Zeolites

• Industrially important zeolites are produced synthetically. Zeolites have varied applications including as catalysts and absorbents

BENEFITS SDAs are important raw material for creation of high precision Zeolites which are: • An important ingredient in

Emission control systems for NOx removal

• Facilitates cracking crude to

acquire various desired outputs

•

Important part of continuous flow chemistry process

DEMAND DRIVERS • With the recent developments in emission control and refining catalyst applications, Tatva Chintan’s deep knowledge about the SDA for Zeolites market helps it to gain the market position

• Versatile applications and non-

regenerative nature of SDAs helps in creating recurring demand for SDA

• Stricter emission norms is pushing

demand

• Limited competition globally

END USER INDUSTRY APPLICATION OF ZEOLITES

Automotive – Catalytic Converter – Emission Control

Petrochemicals – Cracking crude

Catalyst– Continuous flow chemistry

TATVA CHINTAN’S PRESENCE IN SDA

2015

Manufacturing since

₹1,277 mn

Revenue in FY23

₹924 mn

Revenue in H1FY24

30%

of Revenue

44%

of Revenue

2nd largest manufacturer of SDAs for Zeolites globally and the largest commercial supplier in India

Tatva Chintan Pharma Chem Limited

Electrolysis – a better and greener way of producing SDAs

ABOUT ELECTROLYSIS

BENEFITS

• TATVA started R&D into developing SDAs

• Electrolysis is considered as a ‘green’

since 2007

• In 2015, it received commercial approval

for its products, produced using the Electrolysis process

• There are entry barriers as product development and approvals take anywhere between 1-6 years

• With few players in the Indian and global market, Tatva is the largest and only commercial manufacturer of SDA for Zeolites in India. The advanced chemistries make it difficult for new players to enter the market chemistry

chemistry process wherein apart from a single starting raw material, the process largely uses only water and electricity

• Since no additional solvents or other

chemicals are used, it is a safe chemistry

• It has minimum requirement of auxiliary

substances

• The process enables faster output and Higher

Purity

• By deploying electrolysis, the products achieve the lowest possible process mass intensity

TATVA is one of the few companies globally that uses Electrolysis process in organic synthesis.

Tatva Chintan Pharma Chem Limited

Electrolyte Salts – aiding the technological thrust

WHAT ARE ELECTROLYTE SALTS? • Electrolyte Salts are used in

manufacture of super capacitor batteries, which are used in automobile, electronics and energy storage devices.

• Super-Capacitors or ultra-capacitors are energy storage devices that store electrical energy via electrochemical and electrostatic processes. These have an unusually high energy density as compared to common capacitors.

BENEFITS • Due to their properties like fast charging ability, superior low temperature performance, long service and cycle life and reliability. Super-Capacitors hold the potential to replace or complement traditional batteries in several applications.

DEMAND DRIVERS Currently, these are used along with Lithium battery in EV vehicles • Solar energy storage – to absorb

high voltage currents at the time of peak energy generation

• Smart-Grid – To absorb high Voltage

TATVA CHINTAN’S PRESENCE IN SALTS

2016

Manufacturing since

• Battery runtime and operational life is improved extensively by using Super-Capacitors.

• Electric Vehicles – For sudden burst of energy required during the start and while accelerating

₹165 mn

Revenue in FY23

₹25 mn

Revenue in H1FY24

• Other electronic devices where high burst of energy is required to be discharged or stored.

END USER INDUSTRY APPLICATION

of Revenue

Largest producer of electrolyte salts for super capacitor batteries in India.

Automotive

Transport & Infrastructure

Renewable Energy

Consumer Electronics

Grid Balancing

Electric Vehicles

Tatva Chintan Pharma Chem Limited

Pharmaceuticals and Agrochemicals Intermediates and other Specialty Chemicals (PASC) –

WHICH PRODUCTS ARE MANUFACTURED?

END USER INDUSTRY APPLICATION

Pharmaceuticals API’s

Agro Actives

TATVA CHINTAN’S POSITION IN PASC

2016

Manufacturing since

TATVA is the largest producer of Glymes in India and third largest in the world. Market Position

• Various pharmaceutical and

agrochemical products such as intermediates, disinfectants, catalysts and solvents.

• TATVA manufactures Glyme which is used as solvents in manufacturing of pharmaceutical API’s, Solvent for Li battery.

Paints and coatings products

Li Battery

₹1,335 mn

Revenue in FY23

₹598 mn

Revenue in H1FY24

Detergents and personal care products

32%

of Revenue

28%

of Revenue

Tatva Chintan Pharma Chem Limited

Continuous Flow Chemistry – sophisticated method with analytical expertise

ABOUT

BENEFITS

PROCESS

•

TATVA CHINTAN started R&D into continuous flow chemistry since 2018

Focused on developing pharma intermediates and agro intermediates using continuous flow chemistries to offer environmentally sustainable sourcing solution to customers

Involves manufacturing large volumes products to replace environmentally hazardous chemistries

• Continuous Flow Chemistry is

considered as a ‘green’ chemistry process, wherein it generates minimum waste

•

It has lower treatment cost

The technology take smaller space compared to conventional synthesis.

The products achieve the lowest possible process mass intensity and the resultant savings that lead to higher margins

•

Structure directing agents are converted to Zeolite based catalysts to run continuous flow chemistry.

• A bed of catalysts is created inside a pipe reactor. Required Raw materials are continuously fed through the bed of catalyst to Continuously get the desired output products

Tatva Chintan Pharma Chem Limited

Value derived from Product Categories

REVENUE FROM EACH PRODUCT CATEGORY1 FY20:H1FY24 (In ₹ Mn.)

8 4 2 2

2 0 2 1

7 1 0 1

7 7 2 , 1

4 2 9

2 3 4 , 1

7 4 5

0 8 9

6 1 8

9 4 7

6 4

0 3

5 6 1

5 2

Considering the wide range of applications of our products, Tatva Chintan can cater to customers across wide spectrum of Chemical Industries which ensures a sustainable business model.

Diversified product portfolio has helped accelerate our growth and in innovating and thus retain both new and existing customers.

2 2 0 1

2 1 9

5 6 7

5 3 3 , 1

8 9 5

PTC's

SDA's

Electrolyte Salt

PASC

FY20

FY21

FY22

FY23

H1FY24

Notes: (1) Numbers have been rounded off

Tatva Chintan Pharma Chem Limited

Leading Sustainable practices coupled with cutting edge technology

Integrated and Modern Manufacturing Facility

ANKLESHWAR • Manufacturing facility started in 1996 • Converted into a ‘zero liquid effluent discharge’ facility from

January 2020

• Using PNG as the boiler fuel at Ankleshwar Facility

DAHEJ SEZ • Manufacturing started in 2017 •

Sophisticated quality control lab equipped with modern analytical equipment, team of 76 employees of whom 30 are dedicated to quality assurance and 46 for quality control, enabling to detect impurities up to PPM levels and thus achieve ‘ultra-pure’ grade certification.

Ankleshwar Installed Capacity

Dahej SEZ Installed Capacity

COMBINED INSTALLED CAPACITY

0 9

0 9 1

4 0 2

0 8 2

4 9 2

0 1

4 1

4 2

3 1

7 1

7 2

FY20

FY21

FY22

FY23

FY20

FY21

FY22

FY23

FY20

FY21

FY22

FY23

CERTIFICATIONS

ISO 9001:2015

ISO 14001:2015

BS OHSAS 18001:2007

Post commissioning of the capex, the installed capacity has increased to 500KL and 39 Assembly Lines

• Both the plants are in-close proximity to

Hazira port.

• Modern machinery viz. reactors, Assembly Lines, ANFDs, centrifuges and RCVDs. These equipment enable Tatva Chintan to undertake various chemistry processes, such as, quaternization, methylation, amination, phase transfer reactions, cyclization, halogenation, condensation and electrolysis.

• Electrolysis is part of green chemistry

processes which uses water and electricity to produce the target product, as no additional chemicals are used, minimum waste or by-products are generated in this process.

• Facilities are designed to allow a level of flexibility enabling to manufacture a diverse range of products and provide with the ability to modify and customize product portfolio to address the changing requirements of customers.

Tatva Chintan Pharma Chem Limited

One of the prominent Research & Development center

• Dedicated R&D facility at Vadodara recognized by the Department of Scientific and Industrial Research (“DSIR”), Government of India.

• Equipped with glass assemblies, continuous flow reactors, and

high-pressure autoclaves set-up with the ability to run reactions at temperatures ranging from -10ºC to +300ºC and up to pressure conditions measuring up to 100 bar.

• Currently R&D team of 63 employees including 33 senior highly

qualified scientists.

• From IPO proceeds, ₹ 239.71 million will be utilized towards R&D

expansion. R & D designed and segregated into:

• Organic Chemical Synthesis lab • Electrolysis lab • Catalyst development and Continuous Flow Chemistry lab • Analytical method Development lab

R&D CAPITAL AND REVENUE EXPENDITURE (In ₹ Mn.)

300

250

200

150

100

4 9 9 3

FY20

4 1 1 5

FY21

0 7 9 6

7 6 4 5 2

1 9

FY22

FY23

H1FY24

Tatva Chintan Pharma Chem Limited

…With a focus on ‘green’ chemistry processes

Tatva Chintan’s ‘green’ chemistry is based on the principles of clean chemistry, minimum requirement of auxiliary substances, minimum waste and by-products and safe chemistry

• Undertaking various ‘green’ chemistry processes such as electrolysis - apart from a single starting raw material, the process largely uses only water and electricity. Since no additional solvents or other chemicals are used, minimum waste or by-products are generated

• Use of PNG as the boiler fuel at Ankleshwar

manufacturing facility

• Continuous Flow Chemistry being developed which would involve manufacturing large volumes, receiving benefits viz. minimum waste, less treatment cost, lowest process mass intensity that leads to higher margins

• By deploying electrolysis for the manufacture

of products, the Company believes they achieve the lowest possible process mass intensity (ratio of the weights of all raw materials to the weight of the product manufactured)

• Successfully converted the Ankleshwar

Manufacturing Facility into a ‘zero liquid effluent discharge’ facility from January 2020, aided by MEEs and a reserve osmosis ETP

• The sustainability performance as monitored by EcoVadis and TfS has been above the industry average score on their sustainability performance

Tatva Chintan Pharma Chem Limited

Expansive international presence with Marquee clientele

Fostered long term relationship with marquee clientele while continuously expanding presence in global market

ESTEEMED CUSTOMERS

EXPORTS

• Tatva exports products to over 25 countries viz. USA, China, Germany, Japan, South

Africa and UK.

• Subsidiaries facilitates overseas operations:-

• Tatva Chintan USA Inc. and, • Tatva Chintan Europe BV, Netherlands

• Tatva has successfully maintained long term relationships with its customers

• Warehousing facilities at Amsterdam, The Netherlands and Savanna, USA to

facilitate business operations.

Tatva Chintan Pharma Chem Limited

Why TATVA CHINTAN

Investment Rationale

Presence in niche specialty chemicals space with limited competitors in this segment.

Track record of developing wide product basket across categories; expanding to different geographies and showcasing technical expertise to create products with low impurities which leads to higher customer retention.

Wide basket of products are used in varied industries which reduces risk of dependence on a single industry.

Continuous focus on R&D and in house developed technology creates a differentiated moat for the future.

High industry barriers as new entrant will have to wait from 1 to 6 years for different product approvals.

Capex to boost the capacities and pave the way for higher revenues.

Tatva Chintan Pharma Chem Limited

Industry Outlook

India's rapidly expanding footprint in Global Chemical Market

SHARE OF COUNTRIES IN GLOBAL CHEMICAL INDUSTRY (IN %)

TRENDS IN SPECIALTY CHEMICALS LANDSCAPE

CHINA

JAPAN

SOUTH KOREA

INDIA

TAIWAN

RUSSIA

BRAZIL

SAUDI ARABIA

OTHERS

Indian Chemical Industry got Advantage vs China due to: • Trade sanctions between

China and US

• Stringent environmental regulations since 2015 and Large-scale shutdowns in China

• Customers preference to de-risk the supply chain led to China+1 policy

• Geopolitical shift after

the outbreak of Covid-19

•

Increased cost of labour

41%

15%

14%

05%

04%

02%

01%

12%

Move towards sustainable product development:

Opportunity for Indian Manufacturers:

• With an increasing awareness of the ill effects of certain chemicals on humans and the environment, there is a growing trend in the chemicals industry to shift towards what is known as “green” chemicals or more accurately sustainable chemistry

• China holds 41% share in global chemical industry of which exportable specialty chemicals accounts for ~15-17% while India accounts for merely 1-2% indicating widespread opportunity

• The spill over impact of China’s declining competitiveness has set the stage for India to intensify its effort to capture larger market share

Source: CEFIC, IBEF, As on 2019 data

Tatva Chintan Pharma Chem Limited

Global Chemical Industry

GLOBAL CHEMICAL INDUSTRY MARKET SIZE

4,738

2019 (USD Bn)

6,400

2024E (USD Bn)

6.2% CAGR

Commodity Chemicals • Basic Chemicals • Manufactured In large volumes • Mkt Size USD 3,700bn • ~Expected 6% CAGR

Speciality Chemicals • Value Added • Low volume, Niche Chemical • Mkt Size USD 800bn • ~17% share of Global Chemical market • Expected 6% CAGR

Other Chemicals

PTC

1,031 Mkt Size 2019 (USD Mn)

1,328

Mkt Size 2024E (USD Mn)

5.1% CAGR

SDA

964 Mkt Size 2019 (USD Mn)

1.4

Mkt Size 2024E (USD Bn)

Electrolyte Salts

Intermediates

4.8 Mkt Size 2019 (USD Bn)

7.1

Mkt Size 2024E (USD Mn)

8.2% CAGR

115 Mkt Size 2019 (USD Bn)

148

Mkt Size 2024E (USD Bn)

6.8% CAGR

5.2% CAGR

Tatva Chintan Pharma Chem Limited

Our Business

Major Events & Milestones

1996 Incorporation of our Company

2007 Expansion of manufacturing capacity at our Ankleshwar Manufacturing Facility

2013 Achieved turnover of ₹ 500.00 million

2017 Set up our Dahej SEZ Manufacturing Facility

2019 Incorporation of Tatva Chintan Europe BV, a wholly owned Subsidiary of our Company

2021 •

Listed on BSE and NSE

• Achieved turnover of

₹ 3 billion

• Acquired industrial

land at Dahej-III GIDC Estate, Bharuch

2011 Commenced commercial manufacturing of SDAs

2004 Received license to manufacture for sale (or for distribution) of certain drugs from the Food and Drugs Control Administration, Gujarat at our Ankleshwar Manufacturing Facility

2015 • Achieved turnover of

•

₹ 1 billion Incorporation of Tatva Chintan USA Inc., a wholly owned Subsidiary of our Company Set up our warehousing facility in Netherlands

2018 Set up our R&D facility in Vadodara

2020 •

•

for

total

‘Together

Completion of Sustainability’ audit Conversion of Ankleshwar facility to a ‘zero liquid effluent discharge facility’ Achieved ₹ 2 billion Increase in manufacturing capacity at Dahej SEZ facility resulting in an increase in the aggregate manufacturing capacity of the Company from 160 KL and 10 Assembly Lines to 280 KL and 13 Assembly Lines

revenue

2023 •

Commencement of commercial production at expanded facility, Dahej SEZ In August 2023, raised ₹ 200 crore by the way of Qualified Institutional Placement

•

Tatva Chintan Pharma Chem Limited

Leadership and Management

Chintan Nitinkumar Shah

MA N A GIN G D IRE CT O R

Ajaykumar Mansukhlal Patel WH O L E T IME D IRE CT O R

Shekhar Rasiklal Somani

WH O L E T IME D IRE CT O R

Dr. Manher Chimanlal Desai IN D E PE N D E NT D IRE CT O R

CA Subhash Ambubhai Patel IN D E PE N D E NT D IRE CT O R

Dr. Avani Rajesh Umatt

IN D E PE N D E NT D IRE CT O R

A Graduate in Engineering with a specialization in Computer Science, from Maharaja Sayajirao University of Baroda, Mr. Chintan Shah carries an experience of over 27 years and is responsible for the Business Development, Finance and information Services in our Company.

A passionate Chemical Engineer from Maharaja Sayajirao University of Baroda, with an experience of over 28 years, he takes care of Project Engineering & Development and implementation of new Technology in our Company.

A Bachelor in Pharmacy from Maharaja Sayajirao University of Baroda, Mr. Shekhar Somani looks after Business Development, Production Controlling, Quality and Supply Chain Management in our Company. He has over 27 years of experience.

He is a Postgraduate in Organic Chemistry and holds Doctorate in Science from the University of Mumbai. He carries a rich experience of over 3 decades in Specialty Chemicals Industry.

A Chartered Accountant by profession and a Commerce Graduate from Maharaja Sayajirao University of Baroda Mr. Subhash Patel is a Fellow Member of the Institute of Chartered Accountants of India and has an experience of over 3 decades.

She holds doctorate in chemistry from the Sardar Patel University. She has over 20 years of experience in research and academia. She is currently associated with Team Lease Skills University as Associate Professor, Dean Academics.

Tatva Chintan Pharma Chem Limited

Shareholder Information

SHAREHOLDING PATTERN- SEPTEMBER 2023 (IN %)

Sept. 2023

PROMOTER

PUBLIC

FPI

OTHERS

72.02%

13.54%

9.61%

4.41%

0.11%

0.31%

NSE Ticker BSE Ticker IPO Listing Date Share Price (₹)^

Market Cap (₹ Mn)^

% Free Float^

Free float market cap (₹ Mn)^

Shares outstanding^

3M ADTV (Shares)

3M ADTV (₹ Mn)

TATVA 543321 29 July 2021 1,583

37,027

27.98%

10,360

2,33,92,055

34,484

Industry Source: NSE, ^As on 30 September 2023

Specialty Chemical

In August 2023, the company raised capital by the way of Qualified Institutional Placement of 12,26,993 shares amounting to ₹ 200 crore to be utilized towards repayment in full or in part, of certain outstanding borrowings availed by the Company and for general corporate purpose

Tatva Chintan Pharma Chem Limited

Net IPO Proceeds

ISSUE SIZE ₹5,000 MILLION AT ₹1,083/SHARE

Offer for Sale: Raised ₹2750 mn

Fresh Issue: Raised ₹2250 mn

Capex at Dahej Plant Of: ₹1471 mn

Capex at R&D Unit: ₹239.71 mn

General Corporate Purpose: ₹362.10 mn

USE OF NET IPO PROCEEDS1 (IN ₹ MN) The Net Proceeds are utilized in accordance with the details provided in the following chart:

8 2 7 0 2

0 1 7 4 1

CAPACITY EXPANSION Capacities post expansion Status of Expansion at Dahej SEZ

Status of R&D Facility at Vadodara

1 2 6 3

7 9 3 2

5 1 2

5 3

0 5 2

0 6 4

500KL, 39 Assembly Lines Commissioned commercial production on 05 April 2023 R&D building completed. Certain R&D equipment’s to be installed

Amount as proposed in offer document

Amount Utilized during the Quarter

Total Unutilized Amount as on 30 Sep 2023

Expansion at Dahej SEZ

Upgradation of R&D Facility

General Corporate purose

Total

Notes: (1) Numbers have been rounded off

Tatva Chintan Pharma Chem Limited

Safe Harbor

Certain statements in this presentation concerning our future growth prospects are forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.

The company's results may be affected by factors including, but not limited to, the risks and uncertainties in research and development; competitive developments; regulatory actions; the extent and duration of the effects of the COVID-19 pandemic; litigation and investigations; business development transactions; economic conditions; and changes in laws and regulations.

Tatva Chintan Pharma Chem Limited will not be responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances

Tatva Chintan Pharma Chem Limited

NOVEMBER 2023

Thank You

TATVA CHINTAN PHARMA CHEM LIMITED

INVESTOR RELATIONS AT

CORPORATE OFFICE Plot No. 353, G.I.D.C, Makarpura, Vadodara – 390 010, Gujarat, India

TATVA CHINTAN Mr. Ashok Bothra finance@tatvachintan.com

BSE: 543321 NSE: TATVA CIN: L24232GJ1996PLC029894 www.tatvachintan.com

EY Ms. Krishna Patel, Mr. Rahul Thakur Krishna.patel2@in.ey.com, Rahul.thakur@in.ey.com

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