Bhagiradha Chemicals & Industries Limited

rs,

ef: BCIL/SE/2025/17 February 19, 2025 To, The Secretary, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 To, The Manager, Listing Department, National Stock Exchange of

7%

From Operations (Rs. In Cr.) EBITDA From Operations (Rs. In Cr.) Profit After Tax (Rs. In Cr.) +7% 296 318 +7% 31 29 +34% 15 11 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24 9MFY25 EBITDA Margin

34%

) EBITDA From Operations (Rs. In Cr.) Profit After Tax (Rs. In Cr.) +7% 296 318 +7% 31 29 +34% 15 11 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24 9MFY25 EBITDA Margin (%) PAT Margin (%) 9.7% 9

9.7%

9 +34% 15 11 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24 9MFY25 EBITDA Margin (%) PAT Margin (%) 9.7% 9.7% 4.6% 3.7% 9MFY24 9MFY25 9MFY24 9MFY25 • • • Revenue: Revenue grew by 7%, Volume gr

4.6%

11 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24 9MFY25 EBITDA Margin (%) PAT Margin (%) 9.7% 9.7% 4.6% 3.7% 9MFY24 9MFY25 9MFY24 9MFY25 • • • Revenue: Revenue grew by 7%, Volume growth was nea

3.7%

MFY24 9MFY25 9MFY24 9MFY25 9MFY24 9MFY25 EBITDA Margin (%) PAT Margin (%) 9.7% 9.7% 4.6% 3.7% 9MFY24 9MFY25 9MFY24 9MFY25 • • • Revenue: Revenue grew by 7%, Volume growth was near doub

38%

Y-o-Y Revenue From Operations (Rs. In Cr.) EBITDA (Rs. In Cr.) Profit After Tax (Rs. In Cr.) +38% 103 74 +11% 9 8 +8% 4 3 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 EBITDA Margin (%)

11%

e From Operations (Rs. In Cr.) EBITDA (Rs. In Cr.) Profit After Tax (Rs. In Cr.) +38% 103 74 +11% 9 8 +8% 4 3 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 EBITDA Margin (%) PAT Margin (%)

8%

tions (Rs. In Cr.) EBITDA (Rs. In Cr.) Profit After Tax (Rs. In Cr.) +38% 103 74 +11% 9 8 +8% 4 3 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 EBITDA Margin (%) PAT Margin (%) 11.1% 8.

11.1%

9 8 +8% 4 3 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 EBITDA Margin (%) PAT Margin (%) 11.1% 8.9% 4.5% 3.5% Q3FY24 Q3FY25 Q3FY24 Q3FY25 • • • Revenue: Witnessed a volume uptick for

8.9%

8% 4 3 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 EBITDA Margin (%) PAT Margin (%) 11.1% 8.9% 4.5% 3.5% Q3FY24 Q3FY25 Q3FY24 Q3FY25 • • • Revenue: Witnessed a volume uptick for some

4.5%

3 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 EBITDA Margin (%) PAT Margin (%) 11.1% 8.9% 4.5% 3.5% Q3FY24 Q3FY25 Q3FY24 Q3FY25 • • • Revenue: Witnessed a volume uptick for some of the

“✓ Revenue Target of ~5x in next 6 to 7 years with operating efficiency and better margin profile.”

“High Margin Product Development Contract Manufacturing Business Process & Cost Optimization Revenue Target of ~5x in next 6 to 7 years with operating efficiency and better margin profile.”

“Proceeds will be channeled into investments for growth purpose in the subsidiary company – Bheema Fine Chemicals Private Limited 36 Capital Raise History Corporate Action Preferential Allotment Right Issue Preferential Allotment Total Issue Size Rs.”

Revenue

4

Semi-commercial pilot plant is equipped with

1

Backward Integration

1

Investor Relations Advisors

1

Revenue

408 crores BCIL 2.0 Growth Phase • 1993: Founded by Sri Koteswara Rao, a well-recognized scientist in South India. • 1995: Set-up manufacturing plant launched Chlorpyriphos as and Flagship product. • 1996: Launched IPO and listed on BSE • 2005: Started contract manufacturing • 2012: Backward integration of for US based MNC. Azoxystrobin to N-5 level. • 2008: Set up Block 3, enhancing for capacity manufacturing new molecules. 3,250 MT to • 2012: Ventured into regulated markets of Brazil and EU. • 1998: Ventured into regulated markets Australia, Peru and Costa Rica. international including EU, • 2002: Founder’s son, S. Chandrasekhar, joined the business. • 2004: Set-up 2nd manufacturing block and also launched a dedicated in- house R&D facility. exports • 2004: Launched herbicide Triclopyr and for insecticide Imidacloprid in domestic market. to Australia • 2009: Commercialized Herbicide products Clodinafop Propargyl and Cloquintocet Mexy. • 2010: Launched insecticide Thiamethoxam. • 2011

Semi-commercial pilot plant is equipped with

• • • Scaling of process up to 25 kg per batch Generation of product samples to support registration process Scale-up studies for technology transfer to semi-commercial / commercial plant • • Batch reactors, autoclave, condensers, etc. that can produce up to 250 kg/batch Support customer campaigns and enabling customer future commercial scale campaigns to support feedback 21 Creating Entry Barrier: Backward Integration Input 13 N-6 (A) N-5 (A) N-4 (B) N-3 (A) Input 14 Input 12 Input 11 Input 7 & 8 Input 4 Input 3 Future backward integration Backward integrated inputs ~4% Global Market share ~14% Domestic Market share Input 9 & 10 N-3 (B) N-2 (A) N-1 (A) Input 5 & 6 N-2 (B) Input 1 & 2 Product 1 Backward integration to increase to N-9 level with 16 process stages by FY 26, thus increasing margin Imports ~60% N 7 N 6 N 5 N 4 N 3 N 2 N 1 Future backward integration planned to N-7 with 13 process stages, which is expected to increase the margins Input 4 Input 5 & 6 N-2 (A) Input 11 Input 1

Backward Integration

High Margin Product Development Contract Manufacturing Business Process & Cost Optimization Revenue Target of ~5x in next 6 to 7 years with operating efficiency and better margin profile. 28 Historical Performance 29 Financial Snapshot Revenue From Operations (Rs. In Cr.) EBITDA (Rs. In Cr.) Profit After Tax (Rs. In Cr.) 502 436 408 77 68 318 47 45 36 43 23 18 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Revenue Break-up (%) EBITDA (%) PAT (%) Export 6% FY24 94% Domestic 15% 16% 15% 11% 9% 8% 7% 4% FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Unfavorable market conditions resulted in lower exports, revenue and profitability in FY2024 30 Expense Snapshot Capacity Utilization (%) Raw Material (% to Sales) Employee Cost (% to Sales) 89% 90% 63% 64% 62% 60% 8% 6% 6% 5% 85% 72% FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Power & Fuel Cost (% to sales) Other Expenditure (% to Sales) 8% 8% 7% 8% 8% 8% 10% 11% FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Cost of overheads

Investor Relations Advisors

CIN: L24219TG1993PLC015963 CIN: U74140MH2010PTC204285 Mrs. Sharanya. M - Company Secretary & Compliance Officer cs@bhagirad.com Ms. Neha Shroff / Mr. Mayur Pednekar neha.shroff@sgapl.net / mayur.Pednekar@sgapl.net +91-40-42221212 / 42212323 / 23540616 www.bhagirad.com +91 77380 73466 / +91 70213 26784 www.sgapl.net 38 Thank You!