Valiant Organics Limited has informed the Exchange about Investor Presentation
November 15, 2025
To, Listing / Compliance Department BSE LTD Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400 001 SCRIP CODE – 540145
Dear Sir/Madam,
Sub:
Investors' Presentation.
To, Listing / Compliance Department National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block Bandra-Kurla Complex, Bandra (E), Mumbai- 400 051. SYMBOL- VALIANTORG
Pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Investors’ Presentation for Q2 FY 2025-26 Results of Valiant Organics Limited (the “Company”).
A copy of aforesaid www.valiantorganics.com
Investors' Presentation
is also hosted on
the website of Company
Please take the same on your records.
Thanking you,
Yours faithfully, For Valiant Organics Limited
Kaustubh Kulkarni Company Secretary ICSI Mem No: A52980
Regd. Office:109, Udyog Kshetra, 1st Floor, Mulund Goregaon Link Rd, Mulund West, Mumbai 400080, India. +91 22 6797 6683 • info@valiantorganics.com • www.valiantorganics.com CIN NO.: L24230MH2005PLC151348
E a r n i n g s P r e s e n t a t i o n | Q 2 / H 1 - F Y 2 6
SNAPSHOT
One of the largest chlorophenol derivatives manufacturer globally
One of the leading manufacturer of Benzene derivatives products
One of the largest domestic PNA manufacturer
One of the few commercial players in Ortho Anisidine and Para Anisidine
Amongst 1st few domestic PAP Manufacturers
Diversified client base across Pharmaceuticals, Dyes & Pigments, Agrochemicals and specialty chemicals.
6 Manufacturing units across 5 Locations
5 Zero Liquid Discharge plants
Total Production Capacity of 70,000 TPA
900+ Employees
2
Company Overview
Valiant Organics Limited was incorporated in 1984 by first generation technocrats and is headquartered out of Mumbai, India.
The company is focused on the manufacturing and marketing of specialty chemicals which find usage in a variety of industries, including agrochemicals, pharmaceuticals, dyes, pigments, and veterinary medications.
Key chemistries include Chlorination, Hydrogenation, Ammonolysis, Acetylation, Sulphonation, Methoxylation amongst others.
Over the years the company has primarily focused on manufacturing specialty chemicals that have a high demand but low supply and are primarily dependent on imports.
The company is listed on both the BSE and NSE with a market capitalization of INR ~ 9,134 Mn. as on 30th September 2025.
Operating Revenue (INR Mn) and EBITDA Margin (%)
FY25 Revenue Break-up – Chemistries
FY25 Revenue Break-up – End user Industry
10,518
15.62%
12 000
10 000
80 00
60 00
40 00
20 00
0
7,231
7,188
5.28%
7.47%
3,617 12.69%
FY23
FY24 Revenue
FY25
EBITDA Margin
H1-FY26
50 .0 0%
45 .0 0%
40 .0 0%
35 .0 0%
30 .0 0%
25 .0 0%
20 .0 0%
15 .0 0%
10 .0 0%
5.00 %
0.00 %
Others, 5%
Chlorination, 20%
Ammonolysis, 28%
Hydrogenation, 47%
Dyes & Pigments; 52%
Pharmaceuticals; 13%
Specialty Chemicals; 10%
Agro Chemicals; 25%
*Pursuant to the allotment of further equity shares through IPO by the Company's material step down subsidiary namely, Valiant Laboratories Limited ("VLL"), the stake of Company's subsidiary Dhanvallabh Ventures LLP in VLL has been diluted to 46.83% and accordingly VLL has ceased to be a step down subsidiary of the Company and has became an associate company w.e.f. October 04,2023. Hence, consolidated financial of previous periods and YTD results are not comparable.
Valiant Organics Limited | Q2-2026
3
Chemistries And Product Basket
Ammonolysis
Key Products: • •
Para Nitro Aniline Ortho Chloro Para Nitro Aniline
Industries Served: • •
Dyes Pigments
H1-FY26 Revenue Share
50%
4
25%
Hydrogenation
Ortho Anisidine Para Anisidine IPPCA
Key Products: • • • • Meta Chloro Aniline • Para Amino Phenol • Ortho Amino Phenol
Industries Served: • • • •
Dyes Pigments Pharmaceutical Agro Chemicals
Others Acetylation Key Products: • • •
6 Acetyl OAPSA OA Acetanilide PA Acetanilide
Industries Served: • Dyes
Sulphonation Key Products: • OT5SA • 4B Acid • 2B Acid
Methoxylation Key Products: • •
Ortho Nitro Anisole Para Nitro Anisole
Industries Served: • Dyes • Pigments
Industries Served: • Dyes • Pigments
20%
Chlorination
5%
Key Products: • • • • •
Para ChloroPhenol (PCP) Ortho ChloroPhenol (OCP) 2,4 Di Chlorophenol (2,4 DCP) 2,6 Di ChloroPhenol (2,6 DCP) 2,4,6 Tri ChloroPhenol (2,4,6 TCP)
Industries Served: • Agro Chemicals • Cosmetics • Veterinary • Pharmaceuticals
Valiant Organics Limited | Q2-2026
4
Manufacturing Footprint
CHLORINATION – SARIGAM • Capacity: 18,000 MTPA • Products: PCP, OCP, 2,4 DCP, 2,6 DCP, 2,4,6 TCP
AMMONOLYSIS - VAPI • •
Capacity: 10,000 MTPA Products: PNA, OCPNA
AMMONOLYSIS - TARAPUR • Capacity: 6,600 MTPA • Products: PNA
HYDROGENATION & METHOXYLATION- JHAGADIA UNIT 1 • •
Capacity: 28,800 MTPA Products: ONA/OA, PNA/PA, IPPCA, CONVERSION PRODUCTS
HYDROGENATION – JHAGADIA UNIT 2 • •
Capacity: 12,000 MTPA Products: PAP, PHARMA INTERMEDIATES
ACETYLATION & SULPHONATION – AHMEDABAD • •
Capacity: 1,800 MTPA Products: 6 ACETYL OAPSA, OA/PA ACETANILIDE, OT5SA
Valiant Organics Limited | Q2-2026
5
Key Strengths
Domain expertise and broad process understanding in a variety of chemistries. The executive team is made up of first-generation technocrats with more than 50 years of collective expertise.
Wide supply chain provides the continuous availability of adequate and high-quality raw materials and manufacturing.
Plant locations are strategically located near ports to provide a competitive advantage, significant logistical cost savings, and faster delivery times.
Robust Business Model
Integrated Operations
Strong Customer Relations
Distinct Product Portfolio
Domain Knowledge
Widespread Supply Chain
Strategic Location of Plants
Diverse product range and client base across numerous industries and countries provides a sustainable business model in multiple chemistries by lowering product, industry, and geographical risk.
Multi-use and backward integrated plants to produce a wide range of products and tailor them to meet the diverse needs, technical qualifications, batch sizes, and delivery schedules of our clients.
Established multi-year relationships with clients in both domestic and international markets due to high-quality standards, innovative production capabilities.
Manufacturing a diverse range of intermediates as well as value-added products for a variety of industries.
Valiant Organics Limited | Q2-2026
6
Q2/H1-FY26 HIGHLIGHTS
Valiant Organics Limited | Q2-2026
7
CONSOLIDATED FINANCIAL HIGHLIGHTS
Q2-FY26 CONSOLIDATED FINANCIAL HIGHLIGHTS
H1-FY26 CONSOLIDATED FINANCIAL HIGHLIGHTS
INR 212Mn Operating EBITDA
INR 57 Mn Profit After Tax
INR 2.02/ Share EPS
INR 1,573 Mn Operational Revenue
13.48% Operating EBITDA Margin
3.62% PAT Margin
INR 459 Mn Operating EBITDA
INR 139 Mn Profit After Tax
INR 4.95/ Share EPS
INR 3,617 Mn Operational Revenue
12.69% Operating EBITDA Margin
3.84% PAT Margin
Valiant Organics Limited | Q2-2026
8
Q2/H1-FY26 Operational Highlights
•
Revenue remained stable sequentially and registered healthy year-on-year growth, supported by better realizations and steady demand conditions.
Q2-FY26 Revenue Break-up – Chemistries
Others, 6%
• Gross Profit came in at INR 718 million, with gross margin improving sharply to 46% (versus 39% in Q1 FY26 and 36% in Q2 FY25), supported by better raw-material efficiency and an improved product mix.
• Disciplined cost control, improved raw-material management, and a reduction in finance expenses supported healthy margin performance and enabled a clear turnaround compared to the previous year.
Chlorination, 19%
Ammonolysis, 28%
Hydrogenation, 47%
•
•
•
EBITDA saw a significant improvement, driven by stronger contribution and tighter overhead control, with margins expanding meaningfully versus both the previous quarter and the same period last year, reflecting firm operating leverage.
PBT margin remained steady, underscoring consistent cost discipline and efficiency across the business.
H1-FY26 Volume Break-up – Chemistries
Others, 2%
PAT stood at INR 56 million, marking a strong recovery from the loss reported in Q2 FY25.
Ammonolysis, 26%
Chlorination, 29%
Hydrogenation, 43%
Valiant Organics Limited | Q2-2026
9
Key Chemistries
Chlorination (INR Mn)
Hydrogenation (INR Mn)
Ammonolysis (INR Mn)
Others (INR Mn)
394
274
286
S E U N E V E R
45 0
40 0
35 0
30 0
25 0
20 0
15 0
10 0
50
0
1,200
1,000
800
600
400
200
-
1,082
730
725
Q2-FY25
Q1-FY26
Q2-FY26
Q2-FY25
Q1-FY26
Q2-FY26
3,301
2,331
1,936
4,227
4,081
4,300
4,200
4,100
4,000
3,900
3,800
3,700
3,600
3,871
3,500
3,000
2,500
2,000
1,500
1,000
500
-
) T M
( S E M U L O V S E L A S
479
475
427
Q2-FY25
Q1-FY26
Q2-FY26
2,670
2,387
2,247
60 0
55 0
50 0
45 0
40 0
35 0
30 0
25 0
20 0
15 0
10 0
50
0
2,800
2,700
2,600
2,500
2,400
2,300
2,200
2,100
2,000
25 0
20 0
15 0
10 0
50
0
40 0
35 0
30 0
25 0
20 0
15 0
10 0
118
94
97
Q2-FY25
Q1-FY26
Q2-FY26
221
221
238
Q2-FY25
Q1-FY26
Q2-FY26
Q2-FY25
Q1-FY26
Q2-FY26
Q2-FY25
Q1-FY26
Q2-FY26
Q2-FY25
Q1-FY26
Q2-FY26
Valiant Organics Limited | Q2-2026
10
Quarterly Consolidated Financial Performance
Particulars (INR Mn)
Revenue from Operations
Total Expenses
EBITDA
EBITDA Margins (%)
Other Income
Depreciation
Finance Cost
PBT (Excl. Exceptional Items)
Exceptional Items
Share of Profit/(Loss) of Associates
PBT
Tax
PAT
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Basic/Diluted EPS (INR)
Valiant Organics Limited | Q2-2026
Q2-FY26
Q2-FY25
Y-o-Y
Q1-FY26
Q-o-Q
1,573
1,361
212
13.48%
2
98
42
74
-
-
74
17
57
1,602
1,578
24
1.50%
25
88
82
(121)
-
(17)
(138)
(13)
(125)
3.62%
(7.80)%
(5)
52
2.02
(2)
(127)
(4.45)
(1.8)%
(13.8)%
NA
NA
(92.0)%
11.4%
(48.8)%
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2,044
1,796
248
12.13%
11
94
60
105
-
6
111
29
82
4.01%
3
85
2.93
(23.0)%
(24.2)%
(14.5)%
135 Bps
(81.8)%
4.3%
(30.0)%
(29.5)%
NA
NA
(33.3)%
(41.4)%
(30.5)%
(39) Bps
NA
(38.8)%
(31.1)%
11
YTD Consolidated Financial Performance
Particulars (INR Mn)
Revenue from Operations
Total Expenses
EBITDA
EBITDA Margins (%)
Other Income
Depreciation
Finance Cost
PBT (Excl. Exceptional Items)
Exceptional Items
Share of Profit/(Loss) of Associates
PBT
Tax
PAT
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Basic/Diluted EPS (INR)
Valiant Organics Limited | Q2-2026
H1-FY26
H1-FY25
Y-o-Y
3,617
3,158
459
12.69%
13
192
102
178
-
7
185
46
139
3.84%
(1)
138
4.95
3,281
3,099
182
5.55%
29
176
132
(97)
-
(18)
(115)
16
(131)
(3.99)%
(1)
(132)
(4.68)
10.2%
1.9%
NA
714 Bps
(55.2)%
9.1%
(22.7)%
NA
NA
NA
NA
NA
NA
783 bps
NA
NA
NA
12
Quarterly Standalone Financial Performance
Particulars (INR Mn)
Revenue from Operations
Total Expenses
EBITDA
EBITDA Margins (%)
Other Income
Depreciation
Finance Cost
PBT (Excl. Exceptional Items)
Exceptional Items
PBT
Tax
PAT
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Basic/Diluted EPS (INR)
Valiant Organics Limited | Q2-2026
Q2-FY26
Q2-FY25
Y-o-Y
Q1-FY26
Q-o-Q
1,572
1,360
212
13.49%
2
98
42
74
-
74
18
56
1,602
1,579
23
1.44%
20
88
82
(127)
-
(127)
(15)
(112)
3.56%
(6.99)%
(4)
52
2.00
(2)
(114)
(4.30)
(1.9)%
(13.9)%
NA
NA
(90.0)%
11.4%
(48.8)%
NA
NA
NA
NA
NA
NA
NA
NA
NA
2,044
1,796
248
12.13%
11
94
60
105
-
105
29
76
3.72%
3
79
2.71
(23.1)%
(24.3)%
(14.5)%
136 Bps
(81.8)%
4.3%
(30.0)%
(29.5)%
NA
(29.5)%
(37.9)%
(26.3)%
(16) Bps
NA
(34.2)%
(26.2)%
13
YTD Standalone Financial Performance
Particulars (INR Mn)
Revenue from Operations
Total Expenses
EBITDA
EBITDA Margins (%)
Other Income
Depreciation
Finance Cost
PBT (Excl. Exceptional Items)
Exceptional Items
PBT
Tax
PAT
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Basic/Diluted EPS (INR)
Valiant Organics Limited | Q2-2026
H1-FY26
H1-FY25
Y-o-Y
3,616
3,157
459
12.69%
13
192
102
178
-
178
46
132
3.65%
(1)
131
4.70
3,281
3,099
182
5.55%
24
176
132
(102)
-
(102)
14
(116)
(3.54)%
(1)
(117)
(4.14)
10.2%
1.9%
NA
714 Bps
(45.8)%
9.1%
(22.7)%
NA
-
NA
NA
NA
719 Bps
NA
NA
NA
14
HISTORICAL FINANCIAL OVERVIEW
Valiant Organics Limited | Q2-2026
15
Historical Consolidated Income Statement
Particulars (INR Mn)
Revenue from Operations
Total Expenses
EBITDA
EBITDA Margins (%)
Other Income
Depreciation
Finance Cost
PBT (Excl. Exceptional Items)
Exceptional Items
Share of Profit/(Loss) of Associates
PBT
Tax
PAT
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Basic/Diluted EPS (INR)
Valiant Organics Limited | Q2-2026
FY23
FY24
FY25
H1-FY26
10,518
8,875
1,643
15.62%
80
292
108
1,323
49
-
1,372
346
1,026
9.75%
1
1,027
31.50
7,231
6,849
382
5.28%
93
349
163
(37)
(34)
(16)
(87)
(3)
(84)
(1.16)%
7
(77)
(3.00)
7,188
6,651
537
7.47%
86
358
236
29
-
(7)
22
56
(34)
(0.47)%
(10)
(44)
(1.24)
3,617
3,158
459
12.69%
13
192
102
178
-
7
185
46
139
3.84%
(1)
138
4.95
16
Historical Consolidated Balance Sheet
Particulars (INR Mn)
FY24
FY25
H1-FY26
Particulars (INR Mn)
FY24
FY25
H1-FY26
EQUITY a) Equity Share Capital b) Other Equity c) Optionally Convertible Preference Shares d) Non Controlling Interest
LIABILITIES Non-Current Liabilities
Financial Liabilities a) Borrowings b) Lease Liabilities c) Other Financial Liabilities d) Provisions e) Deferred Tax Liabilities (Net) Current Liabilities
a) Financial Liabilities (i) Borrowings (ii) Trade Payables (iii) Other Financial Liabilities (iv) Lease Liabilities b) Other Current Liabilities c) Provisions
7,293 276 7,017 - -
7,253 280 6,973 - -
7,395 280 7,115 - -
1,071
888
963
742 2 16 19 292 4,116
1,823 2,075 157 2 22 37
507 1 14 22 344 3,688
1,978 1,487 158 2 16 47
389 1 154 29 390 3,267
1,969 999 228 1 9 61
Non-Current Assets a) Property, Plant and Equipment c) Right-Of-Use Assets b) Capital Work In Progress d) Other Intangible Assets e) Goodwill on Consolidation f) Financial Assets (i) Investments (ii) Other Financial Assets g) Other Non-Current assets Current Assets a) Inventories b) Financial Assets (i) Investments (ii) Trade Receivables (iii) Cash and Cash Equivalents (iv) Other Bank balances (v) Loans (vi) Other financial assets
c) Other Current Assets
d) Current Tax Assets (Net)
8,352 6,297 5 861 2 123
953 54 57 4,128 1,142
33 2,094 35 3 492 29 173
127
8,269 6,437 3 657 5 123
936 57 51 3,560 890
- 1,769 71 5 492 55 157
121
8,786 6,940 1 86 4 123
1,524 57 51 2,839 974
- 1,550 60 4 5 44 99
103
GRAND TOTAL - EQUITIES & LIABILITES
12,480
11,829
11,625
GRAND TOTAL – ASSETS
12,480
11,829
11,625
Valiant Organics Limited | Q2-2026
17
Historical Standalone Income Statement
Particulars (INR Mn)
Revenue from Operations
Total Expenses
EBITDA
EBITDA Margins (%)
Other Income
Depreciation
Finance Cost
PBT (Excl. Exceptional Items)
Exceptional Items
PBT
Tax
Profit After Tax
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Diluted EPS (INR per share)
Valiant Organics Limited | Q2-2026
FY23
FY24
FY25
H1-FY26
9,116
7,817
1,299
14.25%
29
276
105
947
49
996
240
756
8.29%
(11)
745
27.02
6,772
6,376
396
5.85%
29
340
194
(109)
58
(51)
(21)
(30)
(0.44)%
7
(23)
(1.09)
7,188
6,651
537
7.47%
81
358
236
24
-
24
54
(30)
(0.42)%
(9)
(39)
(1.09)
3,616
3,157
459
12.69%
13
192
102
178
-
178
46
132
3.65%
(1)
131
4.70
18
Historical Standalone Balance Sheet
FY24
FY25
H1-FY26
Particulars (INR Mn) EQUITY
a) Equity Share Capital
b) Other Equity
c) Optionally Convertible Preference Shares
LIABILITIES
Non-Current Liabilities
Financial Liabilities
a) Borrowings
b) Lease Liabilities
c) Other Financial Liabilities
d) Provisions
e) Deferred Tax Liabilities (Net)
Current Liabilities
a) Financial Liabilities
(i) Borrowings
(ii) Trade Payables
(iii) Other Financial Liabilities
(iv) Lease Liabilities
b) Other Current Liabilities
c) Provisions
d) Current Tax Liabilities (Net)
6,649
276
6,373
-
1,071
742
2
16
19
292
3,703
1,410
2,075
157
2
22
37
-
6,616
280
6,336
888
507
1
14
22
344
3,289
1,607
1,460
156
2
17
47
-
6,752
280
6,472
Particulars (INR Mn) Non-Current Assets
a) Property, Plant and Equipment
b) Right-Of-Use Assets
c) Capital Work In Progress
d) Other Intangible Assets
963
e) Financial Assets
(i) Investments in Subsidiaries
(ii) Other Investments
(iii) Loans
f) Other Non-Current assets
Current Assets
a) Inventories
389
1
154
29
390
2,893
b) Financial Assets
1,598
998
226
1
9
61
-
(i) Investments
(ii) Trade Receivables
(iii) Cash and Cash Equivalents
(iv) Other Bank balances
(v) Loans
(vi) Other financial assets
c) Other Current Assets
d) Current Tax Assets (Net)
FY24
FY25
H1-FY26
7,818
6,297
7,750
6,437
5
861
2
489
53
54
57
3,605
1,142
-
2,094
33
3
6
29
171
127
3
657
5
498
43
57
50
3,043
890
1,742
71
4
6
55
156
119
7,775
6,940
1
86
4
592
44
57
51
2,833
974
-
1,549
58
4
5
44
99
100
GRAND TOTAL - EQUITIES & LIABILITES
11,423
10,793
10,608
GRAND TOTAL – ASSETS
11,423
10,793
10,608
Valiant Organics Limited | Q2-2026
Consolidated Financial Highlights
Operational Revenue (INR Mn)
EBITDA (INR Mn) & EBITDA Margins (%)
PAT (INR Mn) & PAT Margins (%)
10,00 0
7,500
5,000
2,500
-
10,518
7,231
7,188
1,643
3,617
15.62%
382 5.28%
537
7.47%
459 12.69%
FY23
FY24
FY25
H1-FY26
FY23
FY24
FY25
H1-FY26
Net Debt to Equity (x)
Net Worth (INR Mn)
1,400
1,100
800
500
200
-10 0
-40 0
1,026
9.75%
17 .0 0%
12 .0 0%
7.00 %
3.84%
139
FY23
-84
FY24
-34
-1.16%
FY25 -0.47%
H1-FY26
2.00 %
-3.00 %
Return on Capital Employed & Return on Equity (%)
5,850
5,830
5,698
5,665
20.00%
17.56%
0.32
0.32
0.33
0.31
6,000
5,800
5,600
5,400
5,200
5,000
4,800
4,600
FY23
FY24
FY25
H1-FY26
FY23
FY24
FY25
H1-FY26
Valiant Organics Limited | Q2-2026
15.00%
10.00%
5.00%
0.00%
-5.00%
14.77%
ROCE
ROE (%)
FY23
1.26%
FY24 -1.14%
2.72%
-0.47%
FY25
20
Capital Market Information
Share Price up to 30th September, 2025
30%
10%
-10%
-30%
-50%
-70%
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25
Jul-25
Aug-25
Sep-25
Price Data (As of 30th September, 2025)
Face Value
Market Price
52 Week H/L
Market Cap (Mn)
Equity Shares Outstanding (Mn)
1 Year Avg Trading Volume (‘000)
INR
10.0
326.2
508.3/225.0
9,133.7
28.0
72.3
Valiant Organics
Sensex
Shareholding pattern (As of 30th September, 2025)
FII; 0.21%
Promoters; 37.91%
Public; 61.88%
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Disclaimer
Valiant Organics Limited No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy , completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statem ents made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Valiant Organics Limite d (“Company”), which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward -looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily in dicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.
This presentation is for general information purposes only, without regard to any specific objectives, financial situations o r informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, w ithout registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.
This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.
Valorem Advisors Disclaimer: Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valo rem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall b e placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may conside r material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.
For further details please contact our Investor Relations Representatives: VALOREM ADVISORS Mr. Anuj Sonpal Tel: +91-22-49039500 Email: valiant@valoremadvisors.com Kitlink: https://www.valoremadvisors.com/valiant
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THANK YOU
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