ARE&MNSE1 November 2023

Amara Raja Energy & Mobility Limited has informed the Exchange about Investor Presentation

Amara Raja Energy & Mobility Limited

November 1, 2023

National Stock Exchange of India Limited Listing Compliance Department “Exchange Plaza” Bandra – Kurla Complex Bandra East, Mumbai – 400 051 NSE Symbol: ARE&M

BSE Limited Corporate Relations Department Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai – 400 001 BSE SCRIP CODE: 500008

Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure

Sub: Requirements) Regulations, 2015 - Investor Presentation

Dear Sir/ Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,

2015, please find enclosed herewith Investor Presentation for Q2/H1 FY24.

This is for your information and record.

Thank you

For Amara Raja Energy & Mobility Limited (Formerly known as Amara Raja Batteries Limited)

Vikas Sabharwal Company Secretary

Encl: a/a

E A R N I N G S P R E S E N TAT I O N

Q 2 / H 1 - F Y 2 4

S N A P S H OT

BUSINESS

OPERATIONS

FINANCIALS

4 decades of experience

7 Manufacturing Facilities

Market Cap (Mn) ~ INR 100 Bn+

Leading Automotive Battery Brand

~50 Million units annualized Capacity for Automotive batteries

Net Debt free

Market Leader in Telecom and Data Centre Industry

2.3 Billion AH - Total Industrial batteries capacity

10 year Revenue CAGR 13%

Strong Brand recall

Exporting to 50+ Countries

19.9% ROCE (1)

First AGM battery manufacturer for 2W

~8,000+ employees

AA+ Credit Rating by CRISIL

First VRLA battery manufacturer in India

Country wide distribution network with 1 lakh+ POS

40%+ Institutional Shareholding

(1) As on FY23 end

2

CO M PA N Y OV E RV I E W

• Amara Raja Energy & Mobility Limited, (ARE&M), the flagship company of the Amara Raja Group, is one of the largest manufacturers of lead-acid Batteries for both industrial and automotive applications in India.

Incorporated in 1985, the company over the years has expanded, diversified, and modernized operations with a wide range of products for the customers in both, domestic and International markets.

In the year 1996 the company embarked on automotive batteries through a technical collaboration with Johnson Controls Inc and has continuously gained domestic market share since.

The company exports to over 50 countries across the globe and is focused on expanding its footprint to more countries.

The company’s flagship brands are ‘Amaron’ and ‘PowerZone’ which have a strong recall in the Indian domestic market and have received various accolades as well.

• ARE&M has 7 manufacturing facilities located in Andhra Pradesh, four of which have been recognized with gold in international-level quality circle competitions (ICQCC) held in Jakarta, Indonesia.

• ARE&M entered into the New Energy business in 2022 through Amara Raja Advanced Cell Technologies, which is a 100% subsidiary, and has laid out an ambitious capex plan of INR 95 Bn for setting up a Giga Corridor in Telangana.

The company puts a high emphasis on protecting the environment, recycled batteries and increasing the usage of renewable power.

like using

120 ,000

100 ,000

80,0 00

60,0 00

40,0 00

20,0 00

-

120 ,000

100 ,000

80,0 00

60,0 00

40,0 00

20,0 00

-

CONSOLIDATED INCOME (INR Mn) & EBITDA MARGINS(%)

15.60%

71,498

86,971

11.77%

103,882

13.02%

13.11%

57,549

11,156

10,239

13,521

7,544

FY21

FY22

FY23

H1 FY24

Revenue

EBITDA

EBITDA Margin

STANDALONE INCOME (INR Mn) & EBITDA MARGINS(%)

15.60%

71,497

86,958

11.76%

103,859

13.05%

13.27%

55,807

11,157

10,226

13,552

7,405

FY21

FY22

FY23

H1 FY24

Revenue

EBITDA

EBITDA Margin

18. 00%

16. 00%

14. 00%

12. 00%

10. 00%

8.0 0%

6.0 0%

4.0 0%

2.0 0%

0.0 0%

18. 00%

16. 00%

14. 00%

12. 00%

10. 00%

8.0 0%

6.0 0%

4.0 0%

2.0 0%

0.0 0%

3

O P E R AT I O N S AT A G L A N C E

LEAD ACID BATTERIES

AUTOMOTIVE | INDUSTRIALS

AUTOMOTIVE • Applications – 2W, 3W, 4W & CV’s • Largest Exporter of 4W Batteries • First AGM battery manufacturer for 2W • Setting up 1.5 LPTA of a lead recycling facility through the wholly owned

subsidiary ARCSPL, which showcases its commitment to the circular economy

• Entered Lubricants segment

FY23 REVENUE BREAKUP (%)

Others* 2%

INDUSTRIAL • Application - Telecom, Railways, Power Control, Solar, UPS • Market Leader in Telecom sector • First to introduce VRLA batteries in India • Largest Integrated Facility for MVRLA Batteries • Pioneered Battery Solutions for Indian Railways

Industrials 30%

Auto 68%

• Li Cell and Pack Manufacturing • EV Charging Solutions • Energy Storage Solutions • Developed India’s First 21700 Cylindrical Cell (NMC 811)

*Others predominantly includes New Energy business.

NEW ENERGY BUSINESS

APPLICATIONS

4

M A N U FAC T U R I N G & D I ST R I B U T I O N

DISTRIBUTION POINTS

JAM

ZRK

GUR

JAI

HAR RUD

GZB

DEL

LKN

VAR

SIL

GAU

PAT

AMD

MAND

JAB

IND PITH

NAG

RAI

RAN

JMD

KOL

BHU

BWD

NSK PUNE

AUR

HYD

VJD

ANT

HUB

BLR

CHE

COI

COC

MANUFACTURING CAPACITES

SALES & DISTRIBUTION NETWORK - INDIA

7 Battery Manufacturing Plants in two locations

INDUSTRIES

ANNUALISED CAPACITY

LOCATION

Automotive

~50 Mn

Industrials

2.3 bn Ah

AP

AP

BRANCHES

DISTRIBUTION POINTS

AMARON FRANCHISEES

23

39

500+

POINTS OF SALE

POWER ZONE RETAIL STORES

EXTENSIVE SERVICE HUBS

1,00,000+

1,000 +

2,000 +

5

M A RQ U E E C L I E N T E L E

AUTOMOTIVE

INDUSTRIAL

PASSENGER VEHICLE OEM CLIENTS

COMMERCIAL VEHICLE/TRACTOR OEM CLIENTS

TWO WHEELER OEM CLIENTS

INDUSTRIAL OEM CLIENTS

6

N E W E N E R G Y B U S I N E S S : T H E F U T U R E G R O W T H E N G I N E

150 GWH

POLICY PUSH

India’s electrification demand expected to be 150GWh by 2030 Adoption across user segments like Mobility Telecom and Data Centres Significant market share gain opportunity

ARE&M’S FORAY IN NEW ENERGY SOLUTIONS

Financial subsidies including manufacturing subsidies valued 50,000cr + High customer pull for EVs ensuring market expansion in specific segments as a near given

Li Cell and pack Manufacturing

EV Charging Solutions

Energy Storage Solutions

COMPLETED AMARA RAJA POWER SYSTEMS LIMITED(ARPSL) ACQUISITION

• WOS effective from September 29, 2023 •

Expected to strengthen charging solutions offerings

ROADMAP FOR CAPITALISING ON THE NEW ENERGY BUSINESS

PLANNED A GIGA CORRIDOR IN DIVITIPALLY, TELANGANA •

Setting up E+ve Energy Labs: a unique innovation & research facility, Hyderabad, Telangana

PHASE 2 - FY28

PHASE 3 - FY32

Land allotment completed, spread across 262 acres at Divitipally, Telangana

• •

Customer Qualification plant 16 GWH Cell Capacity over the next 10 years

Phase 1 commercialization expected by FY26

7

G ROW T H ST R AT EGY

S E I R E T T A B D I C A D A E L

S N O I T U L O S Y G R E N E W E N

AUTOMOTIVE (DRIVE EFFICIENCY)

INTERNATIONAL (EXPAND PRESENCE)

INDUSTRIAL (ENERGY SOLUTIONS)

• •

Cost efficiencies with ASG/MSG technologies. Deepen the market presence Leverage the channel network for distributing other allied products

Global manufacturing foot print to avoid tariff barriers Expand presence to Europe and American Markets Deepen presence in SE Asia, West Asia and African Markets

• Maintain dominant market leadership in Telecom and UPS • •

Capitalize on 5G rollout Build Capabilities for Battery Energy solutions by offering Chemistry Agnostic Solutions Expanding to Newer Geographies /Markets

TECHNOLOGY

CUSTOMERS

SUPPLY CHAIN

TALENT

Establish E+ve Energy Labs, a unique innovation & research facility, Hyderabad, Telangana to build in-house competency in cell technology development Build strategic technology partnerships. Create best-in-class product portfolio for both EV and ESS

Leveraging ongoing customer relationships and codevelop custom built products for Mobility and Stationary storage segments. Current Customers: Piaggio, Mahindra, Omega SEKI, Indus Towers, BSNL etc.

Build strategic vendors base for capital Equipment and Critical Raw Materials Support initiatives for strengthening domestic Supply Chain

Recruitment of global talent including subject matter experts Build deep tech expertise in Technology, Supply Chain and Operations To promote Diversity & Inclusion

8

F I NA N C I A L OV E RV I E W

Q 2 / H 1 - F Y 2 4 K E Y F I N A N C I A L H I G H L I G H T S

Q2-FY24 FINANCIAL PERFORMANCE-CONSOLIDATED

H1-FY24 FINANCIAL PERFORMANCE-CONSOLIDATED

REVENUE FROM OPERATIONS

EBITDA

EBITDA MARGINS

REVENUE FROM OPERATIONS

EBITDA

EBITDA MARGINS

INR 29,593 Mn

INR 4,024 Mn

13.60 %

INR 57,549 Mn

INR 7,544 Mn

13.11 %

PAT

PAT MARGINS

DILUTED EPS

PAT

PAT MARGINS

DILUTED EPS

INR 2,263 Mn

7.65%

INR 13.25

INR 4,185 Mn

7.27 %

INR 24.50

Q2-FY24 FINANCIAL PERFORMANCE- STANDALONE

H1-FY24 FINANCIAL PERFORMANCE-STANDALONE

REVENUE FROM OPERATIONS

EBITDA

EBITDA MARGINS

REVENUE FROM OPERATIONS

EBITDA

EBITDA MARGINS

INR 28,108 Mn

INR 3,870 Mn

13.77 %

INR 55,807 Mn

INR 7,405 Mn

13.27 %

PAT

PAT MARGINS

DILUTED EPS

PAT

PAT MARGINS

DILUTED EPS

INR 2,143 Mn

7.62 %

INR 12.55

INR 4,068 Mn

7.29 %

INR 23.82

10

Q 2 - F Y 2 4 P E R FO R M A N C E H I G H L I G H TS - CO N S O L I DAT E D

LEAD ACID BATT. REVENUES (INR Mn)

OTHER BUSINESS REVENUES (INR Mn)

28,089

1,504

1,077

26,878

26,385

620

Q2 FY23

Q1 FY24

Q2 FY24

Q2 FY23

Q1 FY24

Q2 FY24

GEOGRAPHICAL REVENUE SPLIT (INR Mn)

23,703

25,279

26,064

3,302

2,676

3,529

Q2 FY23

Q1 FY24

Q2 FY24

Domestic

Exports

11

Q UA RT E R LY CO N S O L I DAT E D F I N A N C I A L P E R FO R M A N C E

PARTICULARS (INR Mn)

Operational Revenue

Total Expenses

EBITDA

EBITDA Margins (%)

Other Income

Depreciation

Finance Cost

PBT

Tax

PAT

PAT Margins (%)

Other Comprehensive Income

Total Comprehensive Income

Diluted EPS (INR)

Q2-FY24

Q2-FY23

Y-O-Y

Q1-FY24

Q-O-Q

29,593

25,569

4,024

27,005

23,419

3,586

13.60%

13.28%

293

1,157

62

3,098

835

2,263

7.65%

(8)

240

1,019

54

2,753

741

2,012

7.45%

1,099

2,255

3,111

13.25

11.78

9.6%

9.2%

12.2%

32 Bps

22.1%

13.5%

14.8%

12.5%

12.7%

12.5%

20 Bps

NA

(27.5)%

12.5%

27,955

24,437

3,518

5.9%

4.6%

14.4%

12.58%

102 Bps

234

1,114

56

2,582

661

1,921

6.87%

(20)

1,901

11.25

25.2%

3.9%

10.7%

20.0%

26.3%

17.8%

78 Bps

(60.0)%

18.6%

17.8%

12

Y T D CO N S O L I DAT E D F I N A N C I A L P E R FO R M A N C E

PARTICULARS (INR Mn)

Operational Revenue

Total Expenses

EBITDA

EBITDA Margins (%)

Other Income

Depreciation

Finance Cost

PBT

TAX

PAT

PAT Margins (%)

Other Comprehensive Income

Total Comprehensive Income

Diluted EPS (INR)

H1-FY24

H1-FY23

57,549

50,005

7,544

13.11%

526

2,271

119

5,680

1,495

4,185

7.27%

(29)

4,156

24.50

53,210

47,008

6,202

11.66%

410

1,983

100

4,529

1,197

3,332

6.26%

1,120

4,452

19.51

Y-O-Y

8.2%

6.4%

21.6%

145 Bps

28.3%

14.5%

19.0%

25.4%

24.9%

25.6%

101 Bps

NA

(6.6)%

25.6%

13

H I STO R I C A L CO N S O L I DAT E D I N CO M E STAT E M E N T

PARTICULARS (INR Mn)

Operational Revenue

Total Expenses

EBITDA

EBITDA Margins (%)

Other Income

Depreciation

Finance Cost

Profit Before Exceptional Items & Tax

Exceptional

PBT

Tax

PAT

PAT Margins (%)

Other Comprehensive Income

Total Comprehensive Income

Diluted EPS (INR)

FY21

71,498

60,342

11,156

15.60%

874

3,192

105

8,733

-

8,733

2,265

6,468

9.05%

(67)

FY22

86,971

76,732

10,239

11.77%

780

3,957

151

6,911

-

6,911

1,785

5,126

5.89%

7

FY23

103,882

90,361

13,521

13.02%

920

4,272

221

9,948

476

9,472

2,527

6,945

6.69%

1,103

H1-FY24

57,549

50,005

7,544

13.11%

526

2,271

119

5,680

-

5,680

1,495

4,185

7.27%

(29)

6,401

5,133

8,048

4,156

37.87

30.01

40.66

24.50

14

CO N S O L I DAT E D BA L A N C E S H E E T

PARTICULARS (INR Mn)

Assets (1) Non-current Assets (A) Property, Plant And Equipment (B) Right Of Use Asset (C) Capital Work-in Progress (D) Goodwill (E) Other Intangible Assets (F) Intangible Assets Under Development (G) Financial Assets (i) Investments (ii) Other Financial Assets (H) Deferred Tax Assets (Net) (I) Income Tax Assets (Net) (J) Other Non-current Assets Total Non-current Assets (2) Current Assets (A) Inventories (B) Financial Assets (i) Investments (ii) Loans (iii) Trade Receivables (iv) Cash And Cash Equivalents

(v) Bank Balances Other Than Cash And Cash Equivalents (vi) Other Financial Assets (C) Other Current Assets Total Current Assets Total Assets (1+2)

FY22

FY23

H1-FY24

PARTICULARS (INR Mn)

FY22

FY23

H1-FY24

21,276 2,852 8,293

795 3

425 83 - 72 1,713 35,513

25,187 3,710 2,481

659 8

2,616 1,252 9 - 1,236 37,158

26,064 3,744 2,822 274 607 14

2,620 1,165 12 74 1,478 38,873

18,046

17,022

17,611

347 - 7,920 349

193

167 1,227 28,248 63,761

1,653 887 8,866 949

104

3,137 1,463 34,081 71,239

4,071 871 11,262 1,157

522

1,471 2,798 39,763 78,636

Equity And Liabilities

(1) Equity

(A) Equity Share Capital

(B) Other Equity

(2) Non-current Liabilities

(A) Financial Liabilities

(i) Borrowings

(ii) Lease Liabilities

(B) Provisions

(C) Deferred Tax Liabilities (Net)

(D) Other Non-current Liabilities

Total Non-current Liabilities

(3) Current Liabilities

(A) Financial Liabilities

(i) Borrowings

(ii) Lease Liabilities

(iii) Trade Payables

(iv) Other Financial Liabilities

(B) Provisions

(C) Current Tax (Net)

(D) Other Current Liabilities

Total Current Liabilities

Total Equity And Liabilities (1+2+3)

45,525

171

45,354

52,993

171

52,822

56,601

171

56,430

165

773

1,083

314

637

2,972

69

252

8,055

2,988

1,373

-

2,528

15,265

63,761

96

635

1,434

732

830

3,727

69

268

7,571

2,516

1,416

9

2,670

14,519

71,239

96

651

1,537

737

775

3,796

69

263

10,443

2,195

1,562

97

3,609

18,239

78,636

CO N S O L I DAT E D F I N A N C I A L C H A RT S

REVENUES (INR Mn)

103,882

86,971

71,498

57,549

EBITDA (INR Mn) & EBITDA MARGINS (%)

PAT (INR Mn) & PAT MARGINS (%)

15.60%

11,156

13,521

13.02%

13.11%

7,544

10,239

11.77%

16,0 00

14,0 00

12,0 00

10,0 00

8,00 0

6,00 0

4,00 0

2,00 0

-

9.05% 6,468

6,945

6.69%

7.27%

4,185

5,126

5.89%

18. 00%

16. 00%

14. 00%

12. 00%

10. 00%

8.0 0%

6.0 0%

4.0 0%

2.0 0%

0.0 0%

8,00 0

7,00 0

6,00 0

5,00 0

4,00 0

3,00 0

2,00 0

1,00 0

-

FY21

FY22

FY23

H1 FY24

FY21

FY22

FY23

H1 FY24

FY21

FY22

FY23

H1 FY24

EBITDA (INR Mn)

EBITDA MARGINS (%)

PAT (INR Mn)

PAT MARGINS (%)

NETWORTH (INR Mn)

56,601

49,259

43,812

39,327

CURRENT RATIO

2.3

2.1

1.9

2.2

FY21

FY22

FY23

H1 FY24

FY21

FY22

FY23

H1 FY24

16.45%

20.39%

ROCE (%) & ROE (%)

14.10%

19.93%

11.70%

15.56%

FY21

FY22

FY23

ROCE

ROE

10. 00%

9.0 0%

8.0 0%

7.0 0%

6.0 0%

5.0 0%

4.0 0%

3.0 0%

2.0 0%

1.0 0%

0.0 0%

16

STA N DA LO N E F I N A N C I A L C H A RTS

REVENUES (INR Mn)

EBITDA (INR Mn) & EBITDA MARGINS (%)

PAT (INR Mn) & PAT MARGINS (%)

103,859

86,958

71,497

55,807

15.60%

11,157

13,552

13.05%

13.27%

7,405

10,226

11.76%

16,0 00

14,0 00

12,0 00

10,0 00

8,00 0

6,00 0

4,00 0

2,00 0

-

9.05% 6,468

6,944

6.69%

7.29%

4,068

5,112

5.88%

18. 00%

16. 00%

14. 00%

12. 00%

10. 00%

8.0 0%

6.0 0%

4.0 0%

2.0 0%

8,00 0

7,00 0

6,00 0

5,00 0

4,00 0

3,00 0

2,00 0

1,00 0

0.0 0%

-

FY21

FY22

FY23

H1 FY24

FY21

FY22

FY23

H1 FY24

FY21

FY22

FY23

H1 FY24

EBITDA (INR Mn)

EBITDA MARGINS (%)

PAT (INR Mn)

PAT MARGINS (%)

NETWORTH (INR Mn)

52,978

56,471

2.1

42,103

45,514

CURRENT RATIO

2.2

1.8

2.0

FY21

FY22

FY23

H1 FY24

FY21

FY22

FY23

H1 FY24

16.45%

20.39%

ROCE (%) & ROE (%)

14.10%

19.94%

11.67%

15.53%

FY21

FY22

FY23

ROCE

ROE

10. 00%

9.0 0%

8.0 0%

7.0 0%

6.0 0%

5.0 0%

4.0 0%

3.0 0%

2.0 0%

1.0 0%

0.0 0%

17

C A P I TA L M A R K E T DATA

NSE: ARE&M | BSE: 500008 | Bloomberg: AMRJ:IN | Reuters: AMAR.NS / AMAR.BO

1 YEAR STOCK PERFORMANCE

70%

60%

50%

40%

30%

20%

10%

0%

Oct-22

Nov-22

Dec-22

Jan-23

Jan-23

Mar-23

Apr-23

May-23

May-23

Jun-23

Jul-23

Aug-23

Sep-23

PRICE DATA (AS ON 30TH SEPTEMBER, 2023)

Face Value

CMP

52 Week H/L

Market Cap (INR Mn)

Shares O/S (Mn)

Avg. Vol. (‘000)

Amaraja

BSE

INR

1.0

637.5

708.5/479.2

1,08,893

170.8

934.8

SHAREHOLDING PATTERN (AS ON 30TH SEPTEMBER, 2023)

Public, 30.49%

DIIs, 16.81%

Promoter, 28.06%

FIIs, 24.64%

18

D I S C L A I M E R

This presentation by Amara Raja Energy and Mobility Limited (including its subsidiaries) is general background information about the Company’s activities at the date of this presentation. Said information is provided in summary form only and does not purport to be complete, does not contain all the information that is or may be material to investors or potential investors and contents of this presentation should not be considered to be legal, tax, investment or other advice, or a recommendation to investors or potential investors in respect of the holding, purchasing or selling of securities or other financial instruments and does not take into account any investor’s particular objectives, financial situation or needs. By attending the presentation or by reading the presentation slides, you agree to be bound as follows:

This presentation solely for information purposes. This presentation may be amended and supplemented as the Company sees fit, may not be relied upon for the purpose of entering into any transaction and should not be construed as, nor be relied on in connection with, any offer or invitation to purchase or subscribe for, underwrite or otherwise acquire, hold or dispose of any securities of the Company, and shall not be regarded as a recommendation in relation to any such transaction whatsoever.

This presentation and its contents are confidential and proprietary to the Company. No part of it or its subject matter may be reproduced, redistributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person (excluding the relevant person’s professional advisers) or published in whole or in part for any purpose without the prior written consent of the Company. The communication of this presentation may be restricted by law; it is not intended for distribution to, or use by any person in, any jurisdiction where such distribution or use would be contrary to local law or regulation. The information in this presentation has not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the presentation and the information contained herein and no reliance should be placed on it. Information in this presentation (including market data and statistical information) has been obtained from various sources (including third party sources) and the Company does not guarantee the accuracy or completeness of such information. All projections, valuations and statistical analyses are provided for information purposes only. They may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results and to the extent they are based on historical information, any they should not be relied upon as an accurate prediction of future performance.

This presentation contains forward‐looking statements. These statements may include the words “believe”, “expect”, “expected”, “opportunity”, “market expansion”, “commercialization”, “anticipate”, “intend”, “plan”, “growth strategy”, “road map”, “future growth engine”, “estimate”, “will”, “may”, “targeting” and similar expressions as well as statements other than statements of historical facts including, without limitation, those regarding the financial position, business strategy, plans, targets and objectives of the management of the Company for future operations (including development plans and objectives). Such forward‐looking statements involve known and unknown risks, uncertainties and other important factors which may affect the Company's ability to implement and achieve the economic and monetary policies, budgetary plans, fiscal guidelines and other development benchmarks set out in such forward‐looking statements and which may cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward‐looking statements and are based on numerous assumptions regarding the Company’s present and future policies and plans and the environment in which the Company will operate in the future.

Any financial data in this presentation are solely for your information, as background to the Company and may not be relied upon for the purpose of entering into any transaction whatsoever. The financial information set out in this presentation is based on certain important assumptions and adjustments and does not purport to represent what our results of operations are on an audited basis or actually will be in any future periods. All information, opinions and estimates contained herein are given as of the date hereof and are subject to change without notice. The Company, and its Subsidiaries, affiliates, directors, representatives, officers or employees cannot guarantee that the assumptions underlying such forward-looking statements are free from errors, nor do they accept any responsibility for the future accuracy or actual occurrence of any forward-looking statements contained in this document. Company or its Subsidiaries, affiliates, directors, key managerial persons, advisors, representatives, officers or employees accept no responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors or omissions in this presentation/document or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this document or its contents, and make no representation or warranty, express or implied, for the contents of this document. Neither the Company nor any other person is under any obligation to update or keep current the information contained herein.

This document is not a prospectus or a statement in lieu of a prospectus or an offering circular or an invitation or an advertisement or an offer document under the Companies Act, 2013, together with the rules and regulations made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, or any other applicable laws and regulations. By accessing this document, you accept that this document and any claims arising out of the use of the information from this document shall be governed by the laws of Republic of India.

Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-4903 9500 Email: amararaja@valoremadvisors.com

Tel: +91-40-2313 9000 Email: investorservices@amararaja.com

THANK YOU

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