Balrampur Chini Mills Limited

rs,

st Floor, New Trading Wing, Rotunda Kurla Complex, Bandra (E), Building, Phiroze Jeejeebhoy Towers, Mumbai 400051. Dalal Street, Fort, Mumbai- 400001. Symbol: BALRAMCHIN Scrip Code: 500038 Dea

rs 1975

80,000 1050 80,000 5 Journey of BCML over Decades 1975-1989: Sugar Business – Foundation Years 1975: Began operations at the Balrampur unit with a sugar crushing capacity of 800 TCD 1976: Merger

Rs.1009.49 crore

ly alternatives to plastics In the last 8 years upto Mar-25, conducted six share buybacks worth Rs.1009.49 crore and paid dividends of Rs. 481.32 crore (including tax thereon) 6 Board of Directors Vivek Sara

Rs. 481.32 crore

st 8 years upto Mar-25, conducted six share buybacks worth Rs.1009.49 crore and paid dividends of Rs. 481.32 crore (including tax thereon) 6 Board of Directors Vivek Saraogi – Chairman and Managing Director 

1.1%

on the wall The global Carbon cycle in Billion tons Global energy-related CO2 emissions grew by 1.1% in 2023, increasing 410 million tonnes (Mt) to reach a new record high of 37.4 billion tonnes (Gt

410 million

arbon cycle in Billion tons Global energy-related CO2 emissions grew by 1.1% in 2023, increasing 410 million tonnes (Mt) to reach a new record high of 37.4 billion tonnes (Gt) Our current economic model is

37.4 billion

emissions grew by 1.1% in 2023, increasing 410 million tonnes (Mt) to reach a new record high of 37.4 billion tonnes (Gt) Our current economic model is not environmentally sustainable ● The current carbon-b

2.5%

acing ALL carbon in the polymer and chemical industry will be possible requiring a manageable ~2.5% of all biomass of planet earth. Source: Nova Institute 2021/2023 (https://www.unilever.com/file

18 %

Overview on Poly Lactic Acid (PLA) 1 31 8 US$ billion, value of the global PLA market, 2022 18 %, CAGR, projected PLA market growth from 2022 to 2028 % share of PLA production capacity in bio

2028 %

on, value of the global PLA market, 2022 18 %, CAGR, projected PLA market growth from 2022 to 2028 % share of PLA production capacity in bioplastics worldwide, 2023 43.6 % expected share of PLA

43.6 %

et growth from 2022 to 2028 % share of PLA production capacity in bioplastics worldwide, 2023 43.6 % expected share of PLA production capacity in bioplastics worldwide, 2028 % of global Bioplastic

0.02 %

in bioplastics worldwide, 2028 % of global Bioplastics accounted for by sugarcane bioplastics 0.02 % of the global agricultural area used to produce bioplastics 0.06 % of the global agricultural

“Even replacing ALL carbon in the polymer and chemical industry will be possible requiring a manageable ~2.5% of all biomass of planet earth.”

“17 PLA Project Status • Entire land for the Project has been acquired • Contracts for foreign technology partners viz.”

“cr) PBIT Margin (%) Sugar Sales (lac quintals) 467.6 113.3 419.7 8.9% 9.5% 102.6 94.7 94.2 90.4 4,351.7 4,263.0 4,338.6 4,897.4 4,697.3 329.5 296.3 7.6% 238.5 6.9% 5.5% Average blended realization of sugar (Rs./kg) 38.0 39.1 34.7 36.0 32.0 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25”

“Key benefits highlighted by the government include: ** data upto 31.03.2025 Take care of surplus sugar (target to sacrifice ~6 million tonnes of sugar by 2025-26) Reduce import dependency of fuels to result in substantial saving of forex Cleaner environment through E20 fuel .”

“Carbon Monoxide emissions will be 50% lower in two-wheelers and 30% lower in four-wheelers.”

“Hydrocarbon emissions will be 20% lower in both Additional income to farmers, Infrastructural investment in rural areas Employment generation Health benefits Municipal Solid Waste Management In January 2021, the target of achieving 20% Ethanol-blending with petrol was preponed to 2025.”

“1709 1707 1614 31 Business Overview – Co-generation Co-generated Power Production (Cr Units) Co-generated Power Sales (Cr Units) Average Realization (Rs./Unit) 89.8 81.8 80.7 72.7 71.9 4.4 4.0 3.3 3.4 3.2 42.6 34.9 31.7 40.8 37.2 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 On expiry of PPA with UPPCL for two of the units, BCML has started supplying power through open market access.”

“cr) TCI Margin (%) 13.3% 742.2 542.6 Basic EPS (Rs.) 26.49 4,811.7 4,846.0 4,665.9 12.7% 12.4% 609.2 598.7 10.4% 562.3 479.2 461.0 438.8 22.48 22.44 21.65 8.7% 408.3 10.0% 9.5% 9.7% 277.9 6.0% 8.1% 13.94 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25”

“Cr.) Sugar Distillery Others 13 326 5 192 420 FY24 468 FY25 13 261 238 FY23 4,352 FY21 4,263 FY22 4,339 FY23 4,697 FY24 4,897 FY25 329 FY21 296 FY22 % Segment Revenue from non-sugar % Segment PBIT from non-sugar FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 16.6% 19.3% 21.5% 26.7% 22.8% 51.9% 57.0% 53.5% 44.7% 29.7% * Revenues include inter segment revenues 35 Standalone Financial Performance (2 of 3 ) Revenue (Rs.”

“Crs) RONW ** (%) EBITDA/Net Block (%)^^ 20.7% 12.6% 21.6% 3,562 2,921 3,034 11.8% 4,349 17.2% 3,878 10.2% 3,528 44.7% 42.8% 19.7% 9.9% 14.3% 3,227 2,705 2,822 19.5% 2,511 29.8% 26.6% 19.7% FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Increase in capital employed during the year mainly owing to ongoing PLA Project * EBIT / Avg.”

Note

3

Key message

2

Certifications

2

Second phase of integrated growth

1

Chemicals

1

A strategic decision

1

Our Expectations

1

Transfer Price

1

The nature of energy products

1

Bonsucro Certification

1

Second phase of integrated growth

Acquired Rauzagaon unit with sugar and power plant Acquired stake in Indo Gulf Industries Limited, integrating its sugar unit into BCML 2015-2024: Structural transformation of sugar and distillery divisions Enhanced commitment towards environment and shareholders Introduced incinerators in distilleries to achieve zero liquid discharge, extending the operational days of distillery by 60 days annually Commissioned its 4th distillery at Gularia and subsequently increased its capacity Commissioned its 5th distillery capacity at Maizapur Completed expansion of its Balrampur distillery, becoming one of the leader in distillery capacity in Uttar Pradesh 2024 - onwards: Decadal Future Growth Opportunity Diversification to Bio Speciality

Chemicals

Establishing India’s first industrial bio- polymer plant for Poly Lactic Acid (PLA) production, promoting eco- friendly alternatives to plastics In the last 8 years upto Mar-25, conducted six share buybacks worth Rs.1009.49 crore and paid dividends of Rs. 481.32 crore (including tax thereon) 6 Board of Directors Vivek Saraogi – Chairman and Managing Director    An eminent Industrialist, is a veteran in the sugar industry and has been one of the youngest president of the Indian Sugar Mills 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 enabling the Company to emerge as a leader in the Indian sugar industry.  Mr. Saraogi is a Commerce Graduate from St. Xavier's College, Kolkata   Dr. Indu Bhushan (Retd. IAS) – Lead Independent Director  Served as the Chief Executive Officer (CEO) of National Health Authority (NHA) and Ayu

Key message

Even replacing ALL carbon in the polymer and chemical industry will be possible requiring a manageable ~2.5% of all biomass of planet earth. Source: Nova Institute 2021/2023 (https://www.unilever.com/files/5a9d4ed5-36ba-4bf1-af56-42367841343a/turning-off-the-tap-for- fossil-carbon-tcm244-561342-en.pdf ) To achieve Net-Zero, we must embrace Bio 10 How bioplastic is an active measure Bioplastics help to reduce • GHG emissions and • Plastic pollution Bioplastics fit in as an active measure? ●Bioplastics can be “biobased” ●Bioplastics can be “biodegradable” ●Bioplastics can also be both (PLA is both) ●PLA is also easy to chemically recycle 11 BioE3 Policy: An era of Bio-Revolution Government has introduced BioE3 Policy in August 2024 to promote bio-manufacturing and support the shift from a sustainable, bio- based economy. • The BioE3 Policy will facilitate sustainable and efficient utilization of biological resources • The carbon capture storage to biomass and utilization thereof by conve

Key message

PLA is the lowest cost biopolymer with a great hardness and great transparent. PLA has clear advantages in chemical recycling. 13 BCML – PLA (bio-polymer) Project

A strategic decision

• Diversifying goals aim reduce risk associated with regulated sugar and ethanol supply, and align with the Make in India Initiative and Swachh Bharat Abhiyan. • The market for sustainable products is growing and our current initiative is to meet eco-friendly standards and create a new ecosystem for the Sugar Industry. • Future option to use rice, corn or other starch based raw material as per the availability and cost. • Creating a revenue stream by adding more Value-added products. 14 Overview on Poly Lactic Acid (PLA) 1 31 8 US$ billion, value of the global PLA market, 2022 18 %, CAGR, projected PLA market growth from 2022 to 2028 % share of PLA production capacity in bioplastics worldwide, 2023 43.6 % expected share of PLA production capacity in bioplastics worldwide, 2028 % of global Bioplastics accounted for by sugarcane bioplastics 0.02 % of the global agricultural area used to produce bioplastics 0.06 % of the global agricultural area to be used to produce bioplastics, 2027 90

Our Expectations

• Increase the prices of juice, B- heavy based ethanol in line with FRP hike, following the mechanism adopted up to 2022- 23 which considers the value of sugar sacrificed. • The minimum selling price of sugar (as part of the policy framework) should be revised upwards in view of the increase in FRP. 21 Sugar Segment – Financial Performance Revenue (Rs. Cr.) PBIT (Rs. cr) PBIT Margin (%) Sugar Sales (lac quintals) 467.6 113.3 419.7 8.9% 9.5% 102.6 94.7 94.2 90.4 4,351.7 4,263.0 4,338.6 4,897.4 4,697.3 329.5 296.3 7.6% 238.5 6.9% 5.5% Average blended realization of sugar (Rs./kg) 38.0 39.1 34.7 36.0 32.0 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25