ZUARI INDUSTRIES LIMITED has informed the Exchange about Investor Presentation

ZUARI INDUSTRIES LIMITED

5th Floor, Tower A, Global Business Park, M.G. Road, Sector 26, Gurugram - 122 002, India Tel: +91 (124) 482 7800, Email: ig.zgl@adventz.com, www.zuariindustries.in

13 November 2025

National Stock Exchange of India Ltd, Exchange Plaza, C-1, Block-G Bandra-Kurla Complex, Bandra (E) Mumbai- 400 051 NSE Symbol: ZUARIIND

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 BSE Scrip Code: 500780

Sub: Zuari Industries Limited- Presentation for Investors

Ref:- Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Dear Sir/ Madam,

Please find enclosed herewith a copy of Investor Presentation that will be shared with the Investors.

The same will also be uploaded on our website at www.zuariindustries.in.

This is for your information and records.

Thanking you, For Zuari Industries Limited

Yadvinder Goyal Company Secretary

Encl: As stated above

Registered Office Jai Kisaan Bhawan, Zuarinagar, Goa – 403 726 CIN No.: L65921GA1967PLC000157

Zuari Industries Ltd

Investor Presentation Q2 FY26

Safe Harbor

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Zuari Industries Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be 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 consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness.

List of Abbreviations

CFCL: Chambal Fertilizers & Chemicals Ltd DM: Development Manager FFPL: Forte Furniture Products India Ltd GSML: Gobind Sugar Mills Limited IFPL: Indian Furniture Products Ltd JD: Joint Developer JV: Joint Venture MCFL: Mangalore Chemicals & Fertilizers Ltd PPL: Paradeep Phosphates Ltd REI: Real Estate Division & Investments SIL: Simon India Ltd SPE: Sugar, Power & Ethanol TIHL: Texmaco Infrastructure & Holdings Ltd TREL: Texmaco Rail & Engineering Ltd ZACL: Zuari Agro Chemicals Ltd ZEBPL: Zuari Envien Bioenergy Pvt Ltd ZFL: Zuari Finserv Ltd ZIAVPL: Zuari IAV Pvt Ltd ZIBL: Zuari Insurance Brokers Ltd ZIIL: Zuari Infraworld India Limited ZIL: Zuari Industries Ltd ZIntL: Zuari International Ltd ZMSL: Zuari Management Services Ltd ZSPL: Zuari Sugar & Power Ltd

ZIL Structure

Zuari Industries Ltd

Divisions

Subs/JVs

Strategic Investments

Sugar, Power & Ethanol

Real Estate

Zuari Infraworld India Ltd (Real Estate)

Simon India Ltd (Engg. & Construction Services)

Zuari Finserv Ltd & Zuari Insurance Brokers Ltd (Financial Services)

Zuari International Ltd (Trading)

Zuari IAV Pvt Ltd (Oil Tanking Services)

Zuari Envien Bioenergy Pvt Ltd (Bioenergy)

Zuari Management Services Ltd (Management Services)

Chambal Fertilizers & Chemicals Ltd

Zuari Agro Chemicals Ltd

Texmaco Infrastructure & Holdings Ltd

Texmaco Rail & Engineering Ltd

Mangalore Chemicals & Fertilizers Ltd

Performance Snapshot

Operational Performance

Highlights - Subs & JVs

Financial Highlights

Avg Sugar Realization

+5.7% Q2 Y-o-Y; +5.1% H1 Y-o-Y

ZIIL

St. Regis, Dubai

86%

Commencement of Handovers March 26

Sugar Sales

-12% Q2 Y-o-Y; -8.7% H1 Y-o-Y

SIL

Ethanol Sales

+7.6% Q2 Y-o-Y; +3.8% H1 Y-o-Y

Ethanol Production

+44% Q2 Y-o-Y; +24.8% H1 Y-o-Y

Executing orders worth ₹144 Cr

ZEBPL

Project Status

95.1%

Commissioning 30 Nov 2025

10.39% Reduction in cost of borrowing (Y-o-Y)

10.26%

Lowering of finance cost by ✓ 3.0 Cr Q2 Y-o-Y ✓ 6.3 Cr H1 Y-o-Y

BBB- Credit rating reaffirmed

Continued focus on financial control and strengthening governance

Operational Performance

Operational Performance - Production Metrics

Cane Crushing No crushing in Q1 & Q2 due to business seasonality.

Sugar Production No production in Q1 & Q2 due to business seasonality.

Power

Ethanol

Quarterly

Power Production (LU)

Ethanol Production (Lakh L)

(11.8%)

68.0

60.0

66.7%

36.0

(13.4%)

100.2

86.8

43.9%

60.3

Q2FY26

Q1FY26

Q2FY25

Q2FY26

Q1FY26

Q2FY25

Half-yearly

Power Production (LU)

Ethanol Production (Lakh L)

(51.4 %)

263.0

187.0

24.8%

149.8

127.7

H1 FY26

H1 FY25

H1 FY26

H1 FY25

Operational Performance – Sales Metrics

Sugar

Power

Ethanol

Quarterly

Sugar Sales (Qtl)

Sugar Realization (Rs/Qtl)

Power Sales (LU)

Ethanol Sales (Lakh L)

2.7%

3.6

3.7

(11.9%)

4.2

(0.1%)

4,033

4,036

5.7%

3,815

(5.2%)

7.7

7.3

(20.5%)

97.6

77.6

7.6%

72.1

630 %

1.0

Q2FY26

Q1FY26

Q2FY25

Q2FY26

Q1FY26

Q2FY25

Q2FY26

Q1FY26

Q2FY25

Q2FY26

Q1FY26

Q2FY25

Half-yearly

Sugar Sales (Qtl)

Sugar Realization (Rs/Qtl)

Power Sales (LU)

Ethanol Sales (Lakh L)

(8.7%)

8.0

4,034

5.1%

3,838

7.3

(84.9%)

99.2

175.1

3.7%

168.8

H1 FY26

H1 FY25

H1 FY26

H1 FY25

H1 FY26

H1 FY25

H1 FY26

H1 FY25

15.0

Financial Snapshot

Q2 FY26 Financial Performance : Standalone

(Rs Cr)

Total Revenue

EBITDA

PBT (before excep items)

Quarterly

248.1

3.0%

240.9

10.4%

224.7

42.3%

41.5%

1966 %

4550%

52.5

18.6

36.9

37.1

Q2FY26

Q1FY26

Q2FY25

Q2FY26

Q1FY26

Q2FY25

Q2FY26

Q1FY26

Q2FY25

0.9

0.4

Half-yearly

472.8

0.2%

471.9

89.4

16.0%

77.1

19.5

1200.7%

1.5

H1 FY26

H1 FY25

H1 FY26

H1 FY25

H1 FY26

H1 FY25

Financial Performance Snapshot – Q2 FY26 (Standalone)

Revenue (RE Division) 0.7 Cr

e u n e v e R

l a t o T

r

C 1 . 8 4 2

Revenue (SPE Division) 203.8 Cr

Other Income 43.6 Cr

Op. EBITDA (SPE Division) 12.5 Cr Margin: 6.13%

Ethanol 48.2 Cr

Power 6.6 Cr

Sugar 149.0 Cr

Op. EBITDA (RE Division) -3.6 Cr

Review of Subsidiaries

Zuari Infraworld India Ltd

Zuari Garden City Project – Phase IV (Plotted Development)

Key Highlights Q2 St. Regis – Financial Centre Road, Dubai – The Residences

Sales Overview

Project Progress

95%

232/232 Units 100% Sold Out

AED 1,304 Mn

Units Sold

Total Sales Value

Sales Status (98/156 Plots)

63%

Construction Status

Project Timeline

Expected Construction completion

Commencement of Handovers

86%

Feb 26

March 26

Asset Light Business Model – DM Focus

Gangothri Developers (Apartments)

Texmaco Rail (Apartments, Retail & School)

)

Under Development

Land Area

9.4 Acres

Net Saleable Area

2.8 Mn sqft

Project Value*

Timeline

Mega

5 Years

11.8 Acres

1.8 Mn sqft

Major

10 Years

Stage

DM Agreement signed

Term Sheet signed

Highlights

180+ Acres

~ 2.4 Mn sqft

-

3 to 4 Years

-

Standardization of customer/contract documents across all DM projects closed

Robust due diligence mechanism in place before entering DM mandates

Other DM Mandates under discussion

*50-200 Cr – Significant, >200 to <500 Cr – Large, >500 to <2,000 Cr – Major, >2,000 to <5,000 Cr – Mega

Key Developments Across Subsidiaries

Orders Under execution ~144 Cr

Portfolio Expansion: PMS/AIF, Bonds, FDs, Mutual Funds etc.

AI –enabled EPC: Project Control tower, Procurement & Digital Invoice Processing

Building AI agents for procurement, proposals and document control

New Zuari Finserv website launched

zuarimoney.com

Building a strong mutual fund platform with multi- asset capabilities

Scale digital marketing and brand Visibility

Zuari Management Services

Offer business advisory services through support on social media marketing & CRM implementation

AI-driven recruitment and consulting services expanding across group companies

Launch new SKUs pack of Pink Salt, Jaggery Powder, Khandsari

Expanding distribution network

Strengthening of Compliance & Processes

ZEBPL Outlook

ZEBPL JV: Strengthening Presence in Bioenergy

Business Overview

• ZIL established 50:50 JV company (ZEBPL) with Envien International, Slovakia

• ZEBPL is on track for completion of last leg of its first grain-based distillery in Aira, Lakhimpur Kheri,UP

•

Installed Capacity: 180 KLPD, Project Cost: ~300 Cr

Project Status

95.10% Completed

Status and Next Steps

Future Strategy

Scouting for opportunities in feedstock rich states to

scale up the production of ethanol to ~1000 KLPD

Revised COD Delayed statutory approvals; commissioning by 30 Nov 25

Operational Readiness SOPs, Systems, & Processes in place to ensure smooth operations

Market Readiness Participating in 2nd ethanol tender (Dec); exploring private offtake

ZEBPL JV : Current Snapshots

Updates: Strategic Investments

Strategic Investments

Value of strategic investments held by ZIL & its wholly–owned subsidiaries

Company

No. of Shares (Lakh)

Share Price (Rs)

Value (Rs Cr)

Change (%)

30-Sep-25

30-June-25

30-Sep-25

30-June-25

30-Sep-25

30-June-25

Chambal Fertilizers & Chemicals Ltd.

Zuari Agro Chemicals Ltd.

Mangalore Chemicals and Fertilizers Ltd.

Texmaco Rail & Engineering Ltd.

Texmaco Infrastructure and Holdings Ltd.

595

135

3

645

393

595

135

3

645

393

510

272

324

137

95

565

214

272

176

103

3,039

3,362

(10%)

367

10

887

377

290

8

27%

25%

1,136

(22%)

405

(7%)

Value of Quoted Investments

4,680

5,201

(10%)

Leadership

Board of Directors

Saroj K. Poddar Chairman

Jyotsna Poddar Non-Executive Director

Akshay Poddar Non-Executive Director

Athar Shahab Managing Director

Alok Saxena Executive Director

Vijay V. Paranjape Independent Director

Suneet Maheshwari Independent Director

Sanjeev Lall Independent Director

Manju Gupta Independent Director

Deepak Amitabh Independent Director

Financial Performance

Profit & Loss Statement (Standalone)

(Rs Cr)

Particulars

Income

Revenue from operations

Other income

Total income

Expenses

Cost of material consumed

Purchases of Stock-in-Trade

Change in inventories

Employee benefits

Finance Cost

Dep. and Amort. Expense

Other Expense

Total Expense

Profit/(Loss) Before Tax and Exceptional Items

Exceptional Items

Profit/(Loss) Before Tax

Tax Expense

Profit/(Loss) After Tax

Total Other Comprehensive Income

Total Comprehensive Income/(Loss)

EPS (Rs/Share)

Q2 FY26

30-Sep-25

Q1 FY26

30-June-25

Q2 FY25

30-Sep-24

H1 FY26

30-Sep-25

H1 FY25

30-Sep-24

204.5

43.6

248.1

6.5

-

154.1

13.1

27.6

6.4

21.8

229.5

18.6

(12.5)

6.1

3.0

3.1

(240.8)

(237.7)

1.05

210.3

14.4

224.7

18.8

1.2

140.7

12.6

29.7

6.3

14.5

223.8

0.9

(4.5)

(3.6)

0.3

(3.9)

(263.3)

(267.2)

(1.30)

207.4

33.5

240.9

17.9

0.1

158.4

11.4

30.6

6.1

16.0

240.5

0.4

(24.1)

(23.7)

0.2

(23.9)

63.8

39.9

(8.01)

414.8

58.0

472.8

25.3

1.2

294.9

25.7

57.2

12.7

36.3

453.3

19.5

(17.0)

2.5

3.3

(0.8)

(504.1)

(504.9)

(0.26)

421.9

50.0

471.9

78.3

1.6

262.4

23.3

63.5

12.0

29.3

470.4

1.5

(40.1)

(38.5)

0.6

(39.1)

988.1

949.1

(13.13)

Profit & Loss Statement (Consolidated)

(Rs Cr)

Particulars

Income

Revenue from operations

Other income Total income

Expenses

Cost of material consumed

Purchases of Stock-in-Trade

Project expenses

Change in inventories

Employee benefits

Finance Cost

Dep. and Amort. Expense

Other Expense Total Expense

Profit/(loss) before share of profit/ (loss) from associates, JV and Tax

Share of profit/(loss) from associates, JV Profit/(loss) before Tax and exceptional item

Exceptional Item Profit/(loss) before Tax

Tax Expense Profit/(Loss) After Tax

Other Comprehensive Income Total Comprehensive Income/(Loss)

EPS (Rs/Share)

Q2 FY26 30-Sep-25

Q1 FY26 30-June-25

Q2 FY25 30-Sep-24

H1 FY26 30-Sep-25

H1 FY25 30-Sep-24

241.2

45.2

286.4

6.5

0.1

17.0

147.9

31.6

61.5

7.4

27.2

299.2

(12.7)

186.7

174.0

(7.0)

167.0

2.7

164.3

(540.2)

(375.9)

55.34

257.4

10.2

267.6

18.8

1.9

14.3

147.1

30.2

63.0

7.5

19.9

302.7

(35.0)

34.6

(0.4)

-

(0.4)

0.1

(0.5)

4.7

4.3

0.02

237.3

39.9

277.2

17.9

0.2

7.3

161.2

26.2

70.8

7.0

20.6

311.2

(34.0)

38.8

4.8

(19.7)

(14.9)

(0.1)

(14.8)

(176.1)

(190.9)

(4.84)

498.6

55.5

554.1

25.4

1.9

31.4

295.1

61.7

124.4

14.8

47.1

601.8

(47.7)

221.3

173.6

(7.0)

166.6

2.8

163.8

(535.5)

(371.7)

55.35

463.0

56.2

519.2

78.4

1.8

14.0

250.9

51.2

139.7

13.9

38.0

587.9

(68.7)

39.2

(29.5)

(19.7)

(49.2)

(0.8)

(48.4)

1,246.0

1,197.6

(16.04)

Segment Information (Consolidated)

(Rs Cr)

Q2 FY26

30-Sep-25

Q1 FY26

30-June-25

Q2 FY25

30-Sep-24

H1 FY26

30-Sep-25

H1 FY25

30-Sep-24

Particulars

Segment Revenue

a) Sugar & allied products

b) Power

c) Ethanol Plant

d) Real estate

e) Management services

f) Financial services

g) Engineering services

h) Furniture

Total

Less: Intersegment Revenue

Net Segment Revenue

Segment EBITDA

a) Sugar & allied products

b) Power

c) Ethanol Plant

d) Real estate

e) Management services

f) Financial services

g) Engineering services

h) Furniture

Total Segment EBITDA

Less: Finance Cost

Add: Net Unallocable income/(expenses)

167.6

9.6

48.4

7.0

9.5

7.3

18.1

0.1

267.6

26.4

241.2

2.3

2.5

2.7

(2.2)

(1.3)

3.0

(0.6)

(0.4)

6.0

61.5

42.8

173.5

3.2

61.4

9.3

8.6

9.2

15.2

0.7

281.1

23.7

257.4

15.9

(3.6)

8.5

(3.7)

(1.3)

4.3

1.0

(1.2)

19.9

63.0

8.1

171.6

2.2

44.1

7.4

7.8

7.2

1.3

-

241.6

4.3

237.3

(2.9)

(3.0)

6.0

0.9

(0.8)

2.6

(0.8)

0.2

2.2

70.8

34.6

341.1

12.8

109.8

16.3

18.1

16.6

33.2

0.8

548.7

50.1

498.6

18.2

(1.1)

11.2

(6.0)

(2.5)

7.3

0.4

(1.7)

25.8

124.4

50.9

(47.7)

340.4

13.1

102.2

14.5

14.8

14.9

2.4

-

502.3

39.3

463.0

11.4

(6.2)

16.2

(3.4)

(1.5)

6.2

(1.1)

1.0

22.6

139.7

48.4

(68.7)

Profit/(loss) before share of profit/(loss) from associates, JV and Tax

(12.7)

(35.0)

(34.0)

Sub/JV

Subsidiaries

Zuari Infra

ZIntL

ZMSL

Zuari Finserv

Zuari Insurance

Financial Performance: Op. Subsidiaries & Joint Ventures

(Rs Cr)

Income

EBITDA

PBT*

Q2FY26

Q1FY26

Q2FY25

Q2FY26

Q1FY26

Q2FY25

Q2FY26

Q1FY26

Q2FY25

51.3

45.8

9.5

4.4

3.9

27.1

20.9

54.1

110.4

8.7

5.9

4.1

9.7

5.4

2.4

2.2

4.9

48.1

13.0

(0.2)

1.2

2.9

0.8

21.7

6.8

(0.3)

2.0

3.2

1.4

17.9

17.1

1.7

1.7

1.5

0.2

25.1

(1.6)

(1.0)

0.4

2.9

0.6

(1.5)

(7.7)

(1.2)

1.1

3.2

1.2

(3.4)

(3.9)

(0.5)

1.0

1.5

0.0

5.3

6.6

2.5

3.6

5.0

1.0

Simon India

19.4

15.9

Joint Ventures

ZIAVPL

7.9

9.0

* before Exceptional Items

Path Ahead

Strategic Priorities

Pursuing Strategic Growth Opportunities

Scaling Biofuel Capabilities

Strengthening the Balance Sheet

Leverage digital technologies

Nurturing Subsidiaries & Growing Strategic Value

For further information, please contact:

Zuari Industries Limited (BSE: 500780 | NSE: ZUARIIND)

Mr. Yadvinder Goyal +91 124 4827800 Email: ig.zgl@adventz.com

Investor Relations Advisors:

MUFG Intime India Private Limited

Mr. Devansh Dedhia +91 99301 47479 devansh.dedhia@in.mpms.mufg.com

Ms. Darshni Desai +91 99696 15802 darshni.desai@in.mpms.mufg.com