JSW Dulux Limited

3%

nd softness, margins expansion Quarter Highlights H1 Highlights • • • • • Revenue growth of 3% Growth driven by B2B businesses Subdued demand and erratic rains impact in B2C business GM% at

44.7%

Growth driven by B2B businesses Subdued demand and erratic rains impact in B2C business GM% at 44.7% (vs. 38.4% LY) EBITDA% at 14.8% (vs. 11.5% LY) PAT up by 44% • • • • • Record performance a

38.4%

iven by B2B businesses Subdued demand and erratic rains impact in B2C business GM% at 44.7% (vs. 38.4% LY) EBITDA% at 14.8% (vs. 11.5% LY) PAT up by 44% • • • • • Record performance across all p

14.8%

Subdued demand and erratic rains impact in B2C business GM% at 44.7% (vs. 38.4% LY) EBITDA% at 14.8% (vs. 11.5% LY) PAT up by 44% • • • • • Record performance across all parameters in absolute

11.5%

emand and erratic rains impact in B2C business GM% at 44.7% (vs. 38.4% LY) EBITDA% at 14.8% (vs. 11.5% LY) PAT up by 44% • • • • • Record performance across all parameters in absolute terms Rev

44%

ns impact in B2C business GM% at 44.7% (vs. 38.4% LY) EBITDA% at 14.8% (vs. 11.5% LY) PAT up by 44% • • • • • Record performance across all parameters in absolute terms Revenue growth of 5%

5%

44% • • • • • Record performance across all parameters in absolute terms Revenue growth of 5% GM% at 43.8% (vs 38.7% LY) EBITDA% at 15.5% (vs. 12.2% LY) PAT up by 43% Investor Call – Q2 202

43.8%

• • • Record performance across all parameters in absolute terms Revenue growth of 5% GM% at 43.8% (vs 38.7% LY) EBITDA% at 15.5% (vs. 12.2% LY) PAT up by 43% Investor Call – Q2 2023-24 6 Q2 an

38.7%

Record performance across all parameters in absolute terms Revenue growth of 5% GM% at 43.8% (vs 38.7% LY) EBITDA% at 15.5% (vs. 12.2% LY) PAT up by 43% Investor Call – Q2 2023-24 6 Q2 and H1 FY 20

15.5%

oss all parameters in absolute terms Revenue growth of 5% GM% at 43.8% (vs 38.7% LY) EBITDA% at 15.5% (vs. 12.2% LY) PAT up by 43% Investor Call – Q2 2023-24 6 Q2 and H1 FY 2023-24 Performance *

12.2%

ameters in absolute terms Revenue growth of 5% GM% at 43.8% (vs 38.7% LY) EBITDA% at 15.5% (vs. 12.2% LY) PAT up by 43% Investor Call – Q2 2023-24 6 Q2 and H1 FY 2023-24 Performance * * * indica

43%

terms Revenue growth of 5% GM% at 43.8% (vs 38.7% LY) EBITDA% at 15.5% (vs. 12.2% LY) PAT up by 43% Investor Call – Q2 2023-24 6 Q2 and H1 FY 2023-24 Performance * * * indicates YoY change in O

“Such statements should be carefully considered, and it should be understood that many factors could cause forecast and actual results to differ from these statements.”

Paints

1

Coatings

1

Paints

Commercial aggression, demand softness impacting growth • Premium leading category growth • Demand for Projects business remained strong given continuing Real Estate growth • Accelerating urbanization in semi- urban markets translating into higher growth than metros and Tier-1 cities • Presence in ~5,300 towns • Trend of margin improvement continues Investor Call – Q2 2023-24 3 Innovations driving growth All weather protection with Dulux Weathershield Protect Rainproof New Dulux AssuranceTM warranty program Reimagining wood finishes with 2,000+ colour options Featured amongst world’s best creative work in Lürzer's Archive Investor Call – Q2 2023-24 4

Coatings

Double digit growth continued for Powder, MPY; recovery for ICO Auto & Specialty Coatings Industrial Coatings Powder Coatings Marine & Protective Coatings Revving up the performance for McLaren Sustainable solutions for construction & allied industries Powering the future with new Resicoat EV range Fire-proofing and anti-corrosion solutions for heavy industries • Double-digit growth in Premium segment; Value Brands performance was ~flat • Pick-up in OEM ahead of festive season • • Strong rebound in Coil on the back of healthy export orders Packaging impacted by suppressed demand • Double-digit growth across Architectural, I&C and GTC segments on the back of broad-based demand • Automotive growth modest on a high base I&C: Industrial & Consumer GTC: General Trading Companies • Marine driven by strong orders in Defence and global drydockings • Protective Coatings driven by Oil & Gas and Power segments – helped by push for Make in India Confidential & restricted 5 Q2 2023-24 Performance Q