SANGHIINDNSE3 November 2025

Sanghi Industries Limited has informed the Exchange about Investor Presentation

Sanghi Industries Limited

3rd November 2025

To, BSE Limited PJ Towes, Dalal Street Mumbai – 400 001 Scrip Code: 526521

To, National Stock Exchange of India Limited Exchange Plaza, Bandra - Kurla Complex, Bandra (E), Mumbai – 400 051. NSE Symbol: SANGHIIND

Sub.: Investor Presentation under Regulation 30 of SEBI (Listing Obligations and

Disclosure Requirements) Regulations 2015

Dear Sir/ Madam,

In continuation of our letter dated 15th October 2025 regarding Analyst/Institutional call scheduled on 3rd November 2025, we are enclosing herewith Presentation titled ‘Operational & Financial Highlights’ for the quarter and half year ended 30th September 2025.

The above information shall also be made available on the Company's website at www.sanghicement.com.

Kindly take the above on your record.

Thanking you,

Yours faithfully, For Sanghi Industries Limited

Pranjali Dubey Company Secretary & Compliance Officer

Encl.: as above

Sanghi Industries Limited Registered Office: Adani Corporate House, Shantigram, Nr. Vaishnodevi Circle, S. G. Highway, Khodiyar, Ahmedabad – 382421 Gujarat, India Ph +91 79-2656 5555 www.sanghicement.com

CIN: L18209GJ1985PLC157787

Ambuja Cements

Investor Presentation | Q2 & H1 FY’26

Consolidated Highlights

Ambuja Cements achieves robust Q2 FY’26 Performance

Q2 FY’26

H1 FY’26

CEMENT VOLUME (MnT)

Highest ever in Q2 series

16.6

+20%

YoY

CEMENT VOLUME (MnT)

35.0

+20%

YoY

EBITDA (Rs/PMT)

* 1,060

+32%

YoY

PAT (Rs Cr)

2,302

+364%

YoY

1,064

+30%

YoY

PAT (Rs Cr)

3,319

+159%

YoY

* Existing assets (Ambuja+ACC) delivered EBITDA of ~Rs. 1,189 PMT in Q2 FY’26

| Net worth at Rs. 69,493 Cr | Company Remains Debt Free | Healthy Cash Flows to sustain the Capex Program |

Consolidated Highlights

FY’28 target capacity upped by 15 MTPA from earlier 140 MTPA to now 155 MTPA

Financial Highlights ➢ Quarterly revenue at Rs 9,174 Cr. highest ever in Q2 series, up by 21% YoY, volume growth ~5x industry average ➢ Cost leadership journey has resulted in lower cost of sales YoY by 5%, enabled existing assets to deliver EBITDA of ~Rs. 1,189

PMT, and an overall EBITDA of Rs.1,060 PMT

Operational Highlights ➢ FY’28 target capacity upped by 15 MTPA from earlier 140 MTPA to now 155 MTPA (i.e., 10% of originally planned capacity of 140

MTPA). This incremental 15 MTPA capacity will be achieved by debottlenecking at a much lower capex of $48/MT

➢ The company is also installing 13 blenders at various plants over a period of 12 months which will optimize the product mix and

increase higher share of premium cement, thereby improving realisation

➢ In addition, Plant logistics infrastructure debottlenecking will help existing capacity (107 MTPA) utilisation up by 3% over 24

months

➢ Trial run has started for a 4 MTPA new kiln line at Bhatapara (Chhattisgarh). ➢ 2 MTPA Krishnapatnam GU operationalised, additional 7 MTPA will be operational at other 3 locations in Q3 ➢ Commissioned 200 MW solar power taking RE capacity to 673 MW, expected to reach 900 MW by the end of this year, and 1,122

MW by FY27

Strategic initiatives ➢ CiNOC (Cement Intelligent Network Operations Centre) launched to infuse in operations & businesses AI layer deep into our

enterprise fabric, will facilitate paradigm shift in operations

➢ 7 vessels of total 65,800 DWT (Deadweight Tonnage) capacity ordered, share of sea logistics to reach 5%

The Company remains optimistic to deliver double digit revenue growth and four digits PMT EBITDA 3

Growth Trajectory

Capacity (MTPA)

EBITDA (₹ per tonne)

Green Power Share (%)

* 155

140

107

118

At the time of Acquisition (Sept'22)

As on 30th Sept'25

Target (FY'26)

Target (FY'28)

Revised Upped Target (FY'28)

1,500

60%

1,060

738

At the time of Acquisition (Sept'22 TTM)

Q2FY'26

Target (FY'28)

33%

Q2FY26

Target (FY'28)

At the time of Acquisition (Sept'22)

* Additional 15 MTPA capacity will be achieved by debottlenecking at a much lower capex of $48/MT

# Existing assets delivered (Ambuja+ACC) EBITDA of ~Rs. 1,189 PMT, and an overall EBITDA of Rs. 1,060 PMT

Waste Heat Recovery System (MW)

Renewable Power (MW)

376

1,122

228

673

At the time of Acquisition (Sept'22)

As on 30th Sept'25

Target (FY'28)

At the time of Acquisition (Sept'22)

As on 30th Sept'25

Target (FY'28)

• Ambuja Cement

strategically embedded in India’s growth story, and backed by Adani’s infra engine

• Cost leadership to help achieve an EBITDA of Rs 1,500. This will be improved operating enabled by leverage, and strengths synergies within the Adani ecosystem

brand

Status Update on Consolidation

Particulars

Details

Adani Cementation

Completed

Sanghi Industries

In Progress • Board approval received on 17th Dec 2024 for merger with Ambuja • Both the Companies have filed the Joint Company Applications before NCLT, Ahmedabad Bench • Expected to be completed by end of FY’26

Penna Cement

In Progress • Board approval received on 17th Dec 2024 for merger with Ambuja • Both the Companies have filed Joint Company Applications before NCLT, Ahmedabad Bench on

16th October 2025

• Expected to be completed by end of FY’26

Builders of Progress in India

Development

Operations

Value Creation

Capacity Roadmap • Trial run has started for a 4 MTPA new kiln line at

Bhatapara (Chhattisgarh)

• 2 MTPA Krishnapatnam GU operationalised, additional 7 MTPA will be operational at other 3 locations in Q3FY’26

• FY’28 target capacity upped by 15 MTPA to now 155

MTPA from earlier 140 MTPA

Cost Leadership • Ongoing Capex and Opex efficiency initiatives will help achieve the cost target of Rs 3,650 PMT by FY’28

• Green power share uptick with every passing quarter, improved by 14.3 pp to 32.9%, target to reach 60% by FY’28 Market Leadership • Backed by stronger brands equity, the Company has successfully gained its market share by 1 pp to now 16.6%

• GST 2.0 reforms helped aspiring customers to prefer Adani Cement’s Premium products with reduced prices

Asset Footprint • Orient, Penna, Sanghi have moved 100% into Adani Cement (Ambuja/ACC) Brands with positive response from dealers, other supply chain partners and end customers.

• Existing assets delivered a PMT EBITDA of ~Rs. 1,189 PMT, overall EBITDA of Rs.1,060 PMT in Q2 FY’26

CiNOC • CiNOC Intelligent Network Operations Centre) in operations & businesses AI layer deep into our enterprise fabric, will facilitate paradigm shift in operations

launched

(Cement

infuse

Sales & Marketing Excellence • Higher share of premium products as a % of trade

sales @ 35% (volume up 28% YoY)

• A comprehensive focus on market share gain and R&D led premium cement offerings has enabled differentiated performance both in volume growth and improved realizations.

Stakeholders • Net worth at Rs. 69,493 Cr, Company remains debt free & continues to maintain highest rating Crisil AAA (stable) / Crisil A1+

• Healthy cash flows to sustain the Capex program Societal • 5.7 Million people benefited under community

development projects till FY’25

Environmental • Planted 7.1 million trees till H1 FY'26 as part of its commitment to plant 8.3 million trees by 2030, aligned with Adani Group's pledge to grow 100 million trees

• Water positive annualised 12x (in Q2 due to monsoon, it became 29.6X at Ambuja standalone level), Zero Liquid Discharge (ZLD) maintained across all manufacturing sites. 100% of waste generated is treated onsite and recycled for dust suppression and cooling purpose

GST on cement reduced from 28% to 18% under GST 2.0 reforms; entire benefit has been passed on to the customers

Contents

Adani Group Profile

Performance Highlights

Annexures

Ambuja Cements Overview

ESG Updates

Adani Group Profile

Adani Portfolio: A world class infrastructure and utility portfolio

Flagship

Incubator

(73.97%)

AEL

Infrastructure & Utility Core Portfolio

Energy & Utility

Transport & Logistics

(62.43%)

AGEL Renewables

(71.19%)

AESL T&D

(74.96%)

APL IPP

(37.40%)

ATGL1 Gas Discom

(100%) ANIL New Industries

(50.00%)

AdaniConneX5 Data Centre

(65.89%)

APSEZ Ports & Logistics

(100%)

NQXT2

(100%)

AAHL Airports

Other

Specialty

Primary Industry Materials, Metal & Mining

(67.68%)3

Ambuja Cements4

(50.05%)

(58.08%)

(72.66%)

ACC4

Sanghi4

Orient4

(100%)

ARTL Roads

(100%)

(64.71%)

(20.00%)

Copper, Aluminum

NDTV6

AWL7 Food FMCG

(100%)

PVC

Mining Services & Com. Mining

GCC

Specialist Manufacturing8

(%): Adani Family equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries (%): Ambuja equity stake in its subsidiaries

Listed cos Direct Consumer

A multi-decade story of high growth centered around infrastructure & utility core

1. ATGL: Adani Total Gas Ltd, JV with Total Energies | 2. NQXT: North Queensland Export Terminal. On 17th Apr’25, Board of Directors have approved the acquisition of NQXT by APSEZ, transaction will be concluded post pending regulatory approval. | 3. Ambuja Cement’s shareholding does not include Global Depository Receipt of 0.04% but includes AEL shareholding of 0.35% received as part of the consideration against transfer of Adani Cementation Limited as per NCLT order dated 18th July’25 | 4. Cement includes 67.64% (67.68% on Voting Rights basis) stake in Ambuja Cements Ltd. as on 30th Sep’25 which in turn owns 50.05% in ACC Limited. Adani directly owns 6.64% stake in ACC Limited.| 5. Data center, JV with EdgeConnex | 6. Promoter holding in NDTV has increased to 69.02% post completion of right issue in the month of Oct’25 | 7. AWL Agri Business Ltd. : AEL to exit W ilmar JV, agreement signed for residual 20% stake dilution. | 8. Includes the manufacturing of Defense and Aerospace Equipment | AEL: Adani Enterprises Limited | APSEZ: Adani Ports and Special Economic Zone Limited | AESL: Adani Energy Solutions Limited | T&D: Transmission & Distribution | APL: Adani Power Limited | AGEL: Adani Green Energy Limited | AAHL: Adani Airport Holdings Limited | ARTL: Adani Roads Transport Limited | ANIL: Adani New Industries Limited | IPP: Independent Power Producer | NDTV: New Delhi Television Ltd | PVC: Polyvinyl Chloride | GCC: Global Capability Centre l Promoter’s holdings are as on 30th September, 2025.

Adani Portfolio: Best-in class growth with national footprint

Predictable, high and rising free cash flow

National footprint with deep coverage

All figures in INR cr

Tax paid

Finance cost paid

CAT (FFO)

EBITDA 24,870

12,784 (51%)

10,418 (42%) 1,668

EBITDA 89,806

66,527 (74%)

18,711 (21%)

4,568

FY19

FY20

FY21

FY22

FY23

FY24

FY25

AEL APSEZ AGEL ATGL AESL APL Ambuja Cement

Adani’s Core Infra. Platform –

350 Mn

Userbase

EBITDA: Earning before Interest Tax Depreciation & Amortization I EBITDA: PAT + Share of profit from JV + Tax + Deferred Tax + Depreciation + Finance Cost + Forex Loss / (Gain) + Exceptional Items | FFO: Fund Flow from Operations l FFO : EBITDA – Actual Finance cost paid (excl. Capitalized Interest, incl. Int. on Lease Liabilities)– Tax Paid l AEL: Adani Enterprises Limited l APSEZ: Adani Ports and Special Economic Zone Limited l AGEL: Adani Green Energy Limited | ATGL: Adani Total Gas Limited l AESL: Adani Energy Solutions Limited l APL: Adani Power Limited

Adani Portfolio: Repeatable, robust & proven transformative model of investment

DEVELOPMENT1

Adani Infra (India) Limited | Cemindia Projects Ltd. | PSP Projects Ltd.

Origination

Site Development

Construction

• Analysis & market

• Site acquisition

• Engineering & design

intelligence

• Viability analysis

• Concessions &

regulatory agreements

• Sourcing & quality

• Project Management Consultancy (PMC)

OPERATIONS

Operations (AIMSL)

Operation

• Life cycle O&M

planning

CONSUMERS

New C.E.O. Consumer I Employees I Other Stakeholders

Inspired Purpose & Value Creation

• Delivering exceptional products & services for elevated

engagement

• Asset Management plan

• Differentiated and many P&Ls

India’s Largest Commercial Port (at Mundra)

Longest Private HVDC Line in Asia (Mundra - Mohindergarh)

World’s largest Renewable Cluster (at Khavda)

Cement Intelligent Network Operations Centre (CiNOC)

Strategic value Mapping

Investment Case Development

Growth Capital – Platform Infrastructure Financing Framework

14%

March 2016

55%

31%

Duration Risk Matching Risk Management – Rate & Currency Governance & Assurance Diversified Source of Capital

Adani’s Core Infra. Platform –

350 Mn

Userbase

23%

18%

March 2025

26%

25%

Long Term Debt

PSU Banks

Pvt. Banks

USD Bonds

NBFCs & FIs

DII

Global Int. Banks Capex LC

Human Capital Development

• Leadership Development Initiatives

•

Investment in Human Capital

AI enabled Digital Transformation

• Power Utility Business - ENOC • City Gas Distribution - SOUL • Transportation Business - AOCC

Note : 1. Cemindia Projects Ltd. (formerly known as ITD Cementation India Ltd.): the total shareholding stands at 67.47%. PSP Projects Ltd.: the total shareholding stands at 34.41%.| 2. Adani Environmental Resource Management Services Ltd. (additional company is being proposed) | O&M: Operations & Maintenance l HVDC: High voltage direct current l PSU: Public Sector Undertaking (Public Banks in India) l GMTN: Global Medium-Term Notes l SLB: Sustainability Linked Bonds l AEML: Adani Electricity Mumbai Ltd. l AIMSL : Adani Infra Mgt Services Pvt Ltd l IG: Investment Grade l LC: Letter of Credit l DII: Domestic Institutional Investors l COP26: 2021 United Nations Climate Change Conference l AGEL: Adani Green Energy Ltd. l NBFC: Non-Banking Financial Company l AIIL: Adani Infra (India) Ltd. | AOCC : Airport Operations Control Center

Y T V T C A

E C N A M R O F R E P

L A T P A C

T N E M E G A N A M

R E L B A N E

Policy, Strategy & Risk Framework

Continued Focus & Investment

02 Ambuja Cements - Overview

Holding Structure

Adani Family

Public

67.68%

32.32%

Ambuja Cements

NSE: AMBUJACEM

BSE: 500425

Bloomberg: ACEM:IN

50.05%

58.08%

99.94%

72.66%

ACC

NSE: ACC

BSE: 500410

Bloomberg: ACC:IN

Sanghi

NSE: SANGHIIND

BSE: 526521

Bloomberg: SNGI:IN

Penna

Unlisted

Orient

NSE: ORIENTCEM

BSE: 535754

Bloomberg: ORCMNT:IN

Ambuja in Global Context

01 Ambuja, with 107 MTPA, is the 9th largest Building Materials & Solutions company globally

02 World’s first cement company to join the Alliance for Industry Decarbonization (AFID), under the International Renewable Energy Agency (IRENA).

03 Ambuja, along with it’s subsidiary ACC, are India’s leading and globally one of the four large scale cement companies with science-based net-zero targets validated by the SBTi for near term 2030 and long term 2050

PAN India Presence

Presence in 31 states & union territories and 665+ districts

Gagal

Darla / Suli Rajpura Bhatinda

Ropar

Rabriyawas

Marwar

Lakheri

Sanghi Navalakhi

Ambujanagar

Muldwarka Panvel

BCCI

Chanda Patas

Wadi

Chittapur

Kudithini

Mangalore

Thondebhavi

Cochin

Dahej

Surat

Jalgaon

Devapur

Nalagarh

Asian Nalagarh

Roorkee

Dadri

Ametha

Kymore

Farakka

Salai Banwa Tikaria

Chaibasa Warisaliganj

Sindri

Sankrail

Damodhar

For the Quarter Ended September 30, 2025

107 MTPA

Cement Capacity

Integrated Units

77%

67.0%

Clinker factor

Grinding Units

116

Share of Blended Cement

Ready-Mix Concrete plants

Bargarh

Bhatapara

Kolkata

Jamul

Gopalpur

Maratha cement works Ganeshpahad

Tandur

Vizag

Krishnapatnam

Boyareddypalli Talaricheruvu

Madukkarai

Tuticorin

Karaikal

Integrated Plants Grinding Units Bulk Terminal

Bulk Cement Terminals

Ambuja ACC

Orient GU expected by the end of FY’26 as a part of 118 MTPA

6.0%

Captive Ships

1,20,000+

Thermal Substitution Rate

Channel partners across India

* Expected to reach 118 MTPA by end of FY’26

Adani Group Synergies

Adani Portfolio Ecosystem

L I I

EPC & PMC Centre of Excellence

S M A

O&M Centre of Excellence

C C G

Human Resource Centre of Excellence

Energy & Utilities

Mining

Mining Services and Integrated Resource Management

Material

MPL - PVC

Metal

Fly Ash from APL – Circular Economy- Waste Product usage

Supply of Power

Supply of building materials

Supply of Coal

Supply of building materials

Adani Cement

Supply of building materials

Logistics Solutions

Transport & Logistics

✓ Synergy benefits between

entities providing assurance on Supply chain and off take.

✓ Further bringing in

linkage through Centre of Excellences which provides the assurance on execution of projects within budget and time.

✓ Demonstrated Support

and arm’s length synergy benefits in the past.

✓ Collaborating with Adani

Foundation on community development initiatives

✓ Supply of building

materials to Adani Realty

✓ Brand partnerships with

Adani Media Networks on key events

APL

AGEL

AESL

ANIL

KCL - COPPER

APSEZ

AAHL

ARTL

Brands’ Architecture

Iconic brands with cumulative 120+ years history that shaped the industry

Strength Pioneered brand building & technical services Market leaders with Virat Compressive Strength

Heritage India‘s 1st Cement Company, Inter-generational legacy pioneered product development

High Patronage

Higher contribution from Trade segment

Ambuja Cements Geographical Spread (Capacity Share)

IHB

Contractors

Professionals

Dealers

Strategic Partnership {e.g. CREDAI, Academia (FutureX initiative) CONCOR, etc.}

Trade Cement Share Ambuja + ACC

68%

Share of Premium Products

35%

of Trade Volume (28% vol growth YoY)

Northern Zone : 19%

Central Zone : 8%

Western Zone : 23%

Southern Zone : 28%

Eastern Zone : 22%

1. Q2 FY’26

Product Portfolio (1/2)

Ambuja Cement

ACC Cement

Super Premium

High on “STRENGTH”

India's Most Trusted Cement Brand 2025’ by TRA Research in its Brand Trust Report 2025

Super Premium

High on “HERITAGE” & “DURABILITY”

Super Premium

Ambuja Kawach Strength to withstand water

Ambuja Plus Stronger denser concrete

Ambuja Compocem Strength with brightness

ACC Gold Water Shield Cement Paani Seh Kare Shield

ACC Concrete Plus Xtra Strong Cement Plus Ka Dum Hardum

ACC F2R * Superfast Cement Fast Setting, Lambi Inning

ACC Super Super Strong homes that last Super Long

Super Premium to Premium range

Gold Range

* Foundation to Roof

Super Premium

Ambuja Cement Giant compressive strength

Base

ACC Suraksha Power Badhti Mazbooti Ka Power

ACC Suraksha Power + Badhti Mazbooti Ka Power

ACC HPC (High Performance) Super Strong, Lasts Long

ACC Super Shaktimaan Shaktimaan Cement

Silver Range

Product Portfolio (2/2)

Comprehensive Building Materials & Concrete Solutions

Ready Mix Concrete

Aggregates

Alccofine

DmX (Dry Mortars)

AAC Blocks

Wall Putty

LmX

Fly Ash

Iconic Structures and Buildings (1/2)

Reinforcing a legacy of landmark projects, the Company continues to play a pivotal role in India’s infrastructure and realty landscape

Chenab River Arch Bridge

Atal Setu

Samruddhi Mahamarg

Mumbai Coastal Road

Kolkata’s Underwater East West Metro Tunnel

World One, Worli - Mumbai

Iconic Structures and Buildings (2/2)

Adani Cement Creates a World Record for the Largest Raft Foundation for Religious Infrastructure

504 ft tall

Twice the size of Qutub Minar

World’s Tallest temple of Goddess Maa Umiya at Vishv Umiyadham, Ahmedabad

- Supplied concrete for raft foundation of world's tallest Umiya Temple in Ahmedabad, setting a new world record

(24,100 cubic meter within uninterrupted 54 hours)

- ECOMaxX low carbon concrete has enabled the structure to reduce its carbon emissions by 60%, underscoring

the commitment to sustainability and excellence

Ready Mix Concrete

Market Presence of Adani Concrete

Wide variety of RMX solutions for everyone’s need

No of Plants

Volume (Mn m3)*

116 (28 up YoY)

0.90 (49% up YoY)

No of Cities

*Q2 FY’26

Strategic MoU with Container Corporation of India Limited (CONCOR)

MoU to further help Adani Cement journey to optimise logistics costs & commitment to net zero emissions

• The MoU (signed on October 24, 2025) focuses on the rail-based transportation of bulk cement using specialized tank containers, marking the one more large-scale initiative of its kind in the country

• CONCOR will deploy dedicated container rakes to facilitate the seamless movement of bulk cement across key identified rail corridors. These collaboration leverages Indian Railways' vast network and CONCOR's expertise in multimodal logistics to drive a modal shift from road to rail, promoting efficiency, reliability, and environmental sustainability in cement supply chains

• This MoU will further help Adani Cement journey to lowest cost producer & commitment to net zero emissions by 2050. This will also support Indian Govt COP26 initiative. This Green Logistics aim at Decarbonization in Supply Chains

The partnership opens pathway for setting up Bulk Cement Terminals (BCTs) which will be announced in due course

Performance Highlights

• For Sept’24 quarter, Penna was considered for 45 days for

consolidation while Orient was not there

• For Sept’25 quarter, both Penna & Orient were considered for

the entire quarter for consolidation

Industry Outlook

Economy and Industry to benefit from several favourable developments

Macro Economics

Macro Economic Factors • Economy to benefit from several favourable developments including GST 2.0 reforms, the

Carbon Credit Trading Scheme (CCTS), and the withdrawal of coal cess.

• GDP for Q2 FY’26 to grow by ~7.0% and projected to grow by ~6.8% for FY’26 • Inflation outlook for FY’26 revised down to 3.7% from 4.0% • Strong demand and low inflation to boost economic growth

Segment wise Cement Demand

11% - 15%

10% - 14%

29%-31%

32%-34%

Policy Tailwinds

Cement Demand

Policy Tailwinds •

The GST reduction from 28% to 18% to boost affordability and stimulate construction. GST rationalization is accelerating the move toward higher quality cement. The removal of the INR400/tonne coal compensation cess will positively impact our bottom-line Simplification in lime-stone mining will support cement industry.

•

Cement Demand Drivers • Rural & urban infra and housing projects poised for rebound post monsoon •

‘PMAY-2.0’ aiming to provide additional housing support to urban poor & middle class will aid cement growth

• Liquidity from REITs, surging data-center developments, & sustained private sector capex

(INR 6.6 lakh Cr) will boost sector growth

• Major multi tracking rail projects (worth over INR 24634 Cr.) approved by Cabinet along with ongoing/new ‘High-Speed rail projects like Mumbai-Ahmedabad, Delhi-Varanasi to increase cement consumption

• Government capital outlay of USD 135.1 bn in FY26, paired with Smart City Mission’s USD 18.1

bn project pipeline will continue to lift demand

• Commercial construction market is projected to grow at CAGR of 5.8% by 2030

REITs – Real Estate Investment Trusts

13%-15%

22%-24%

Industrial & Commercial

Infrastructure

Rural Housing

Urban Housing

Segment

Housing

FY’26E Growth

6.0% to 7.0%

Infrastructure

7.5% to 8.5%

Industrial/Comm ercial

5.5% to 6.5%

Source: CRISIL

Industry Outlook

Cement Demand – Growth expected from rising infra spend and housing needs

Cement Industry

– Q2 FY’26 growth for cement industry stood at ~ 4%, due to early monsoon resulting in weak rural demand

– India’s per capita cement consumption at ~300 kg (world avg. of 540kg), translates into significant growth opportunity)

– FY’28 target capacity upped by 15 MTPA from earlier 140 MTPA to now 155 MTPA. This incremental 15 MTPA capacity will be achieved by

debottlenecking at a much lower capex of USD 48/ MT

Cement Demand

– Cement sector expected to return to 10 years average profitability levels in FY’26 buoyed by improved demand

– Sector to benefit from improved rural demand and large infra projects

– Demand expected to expand by 7%-8% during FY’26

Consolidation

– Cement sector has witnessed increased M&A activities leading to market consolidation, Top 5 players market share is expected to reach

~55% by the end of FY’26

– ~200 MnT capacity exchanged hands during last 10 year

Performance Highlights

Ambuja Consolidated

Particulars

UoM

Quarter Ended

Sept’25

Sept’24

YoY Change

Jun’25

QoQ Change

MnT

16.6

13.8

20%

18.4

(9%)

Half Year Ended

H1 FY’26

35.0

H1 FY’25

29.2

YoY Change

20%

Volume 1

Revenue from Operations 1 & 2

EBITDA

EBITDA Margin

₹ Cr

9,174

7,552

21%

10,289

(11%)

19,464

15,945

22%

1,761

1,111

58%

1,961

(10%)

3,722

2,391

56%

19.2%

14.7%

4.5pp

19.1%

0.1pp

19.1%

15.0%

4.1pp

EBITDA (PMT)

₹ /Ton

1,060

Other Income

PBT

PAT

EPS (diluted)

₹ Cr

₹

257

838

2,302

7.15

803

374

744

496

1.95

32%

1,069

(31%)

256

(1%)

1,064

513

820

729

30%

(30%)

13%

1,396

(40%)

2,233

1,838

21%

364%

1,017

126%

3,319

1,280

159%

267%

3.39

111%

10.55

4.57

131%

1 2

3 4

Net of MSA sales for Ambuja consolidated In Sept’25 Q, Government grant is lower mainly on account of lower accrual in Sankrail, Chanda, Ametha,Marwar, Tikaria. On a sustainable basis, accruals of incentives are expected to increase substantially with the incremental assets (including IU&GU) in the coming quarters EBITDA for existing assets (Ambuja +ACC) stands at Rs 1,184/ton Includes income tax provision reversal of Rs 1,697 Cr for Q2 FY’26 and H1FY’26

Performance Highlights

Ambuja Standalone

Particulars

UoM

Sept’25

Sept’24

YoY Change

Jun’25

QoQ Change

Volume

MnT

9.9

8.2

21%

10.5

(6%)

H1 FY’26

20.5

H1 FY’25

17.3

Quarter Ended

Half Year Ended

Revenue from Operations

EBITDA

EBITDA Margin

₹ Cr

EBITDA (PMT)

₹ /Ton

Other Income

PBT

PAT

EPS (diluted)

₹ Cr

₹

5,149

4,229

22%

5,515

(7%)

10,663

8,781

704

681

872

(19%)

1,576

1,327

13.7%

16.1%

(2.4pp)

15.8%

(2.1pp)

14.8%

15.1%

(0.3pp)

708

113

285

1,388

828

265

673

501

5.63

2.03

(14%)

(57%)

827

454

(14%)

(75%)

769

567

768

685

(17%)

(58%)

1,066

(73%)

1,350

1,437

(6%)

177%

855

3.47

62%

2,243

1,068

110%

9.10

4.36

109%

YoY Change

19%

21%

19%

Performance Highlights

Movement of Profit After Tax (Ambuja Consolidated)

PAT Stack up Q2 FY’26 (Change YoY)

PAT Stack up H1 FY’26 (Change YoY)

2,302

1,697

3,319

1,697

618

2,267

346

1,018

496

PAT Q2 FY’25

PAT Q2 FY’26 (Reported)

Tax reversal

Depreciation on account of new acquired assets

Exceptional Item

PAT Q2 FY’26 (Comparable)

1,280

H1 FY’25

PAT H1 FY’26 (Reported)

Tax reversal

Depreciation on account of new acquired assets

Exceptional Item

PAT H1 FY’26 (Comparable)

1. Tax reversal: Reversal of liabilities and provisions carried in books based on favorable High Court decisions (Note 8 of the Consolidated Financial Results). Cash refund Rs 746 Cr received in Oct’25 and rest amount received earlier. 2. Depreciation: Majorly on account of depreciation of newly acquired assets (Orient, Penna) which were not there in previous year 3. Exceptional items: a) Government Grants provided b) Provision towards pending litigation and disputed matters C) Vendor dispute claim etc. (Note 14 & 15 of the Consolidated Financial Results)

Performance Highlights

Sales Volumes

Ambuja Consolidated Particulars

Cement Sales Volume

Clinker Sales Volume

CLC Sales Volume

UoM

Sept'24 Q

Jun'25 Q

Sept'25 Q

vs YoY

vs QoQ

MnT

13.8

0.4

14.2

803

18.4

0.5

18.8

16.6

0.2

16.9

1,069

1,060

20%

(39)%

18%

32%

(9%)

(48%)

(10%)

(1%)

PMT EBITDA (Cement volume basis)

Rs/ton

Ambuja Standalone Particulars

Cement Sales Volume

Clinker Sales Volume

CLC Sales Volume

PMT EBITDA (Cement volume basis) Rounded off to the nearest decimal

UoM

Sept'24 Q

Jun'25 Q

Sept'25 Q

vs YoY

vs QoQ

MnT

8.2

0.5

8.7

Rs/ton

828

10.5

0.4

11.0

827

9.9

0.4

10.4

708

21%

(4%)

20%

(6%)

(5%)

(14%)

Beginning Q1 FY’26, in accordance with the industry practice, we are providing PMT EBITDA on cement basis (on a comparable basis with the corresponding prior quarter or YTD as applicable). Additionally, details regarding CLC volume are also disclosed

Performance Highlights

Ambuja Cement (Consolidated) Cement Business (% Change YoY)

SALES VOLUME – Cement (MnT)

NSP (₹/bag Cement)

EBITDA (₹ Cr & Margin) (Incl. RMX)

EBITDA (₹ /ton) (Incl. RMX)

20%

18.4

13.8

16.6

249

261

258

58%

1,961

1,761

1,111

15%

19%

32%

1,069

1,060

803

Sep-24

Jun-25

Sep-25

Sep-24

Jun-25

Sep-25

Sep-24

Jun-25

Sep-25

Sep-24

Jun-25

Sep-25

Adani has achieved the highest volume growth in the industry, surpassing 5x the industry average, driven by a series of strategic initiatives that strengthened market presence and improved realizations.

Key actions include:

- Expanding premium product share

- Intensifying branding and activation campaigns to enhance visibility

- Strengthening influencer engagement through technical support teams

- Delivering value-added solutions tailored to regional customer needs

- Upgrading physical infrastructure for operational efficiency

Looking ahead, Adani’s continued emphasis on premium and solution-focused offerings is expected to further enhance realizations and drive sustained profitability.

Adani is maintaining a strong strategic focus on volume expansion, premiumization,

and pricing power, complemented by cost optimization and operational excellence

initiatives. Additionally, synergies between the Cement business and the broader

Group ecosystem are expected to unlock significant efficiencies. These combined

efforts position the company to deliver improved profitability in the upcoming

quarters

Performance Highlights

Ambuja Cement (Consolidated) Cement Business (% Change YoY)

RAW MATERIAL (₹/ton)

POWER AND FUEL (₹/ton)

FREIGHT & FORWARDING (₹/ton)

789

803

1,367

1,370

1,318

1,305

OTHER EXPENSES (₹ /ton)

774

692

1,308

1,224

715

712

Sep-24

Jun-25

Sep-25

Sep-24

Jun-25

Sep-25

Sep-24

Jun-25

Sep-25

Sep-24

Jun-25

Sep-25

Higher purchased clinker consumption (beneficial on TCO basis) and higher Clinker production (+43%) vs sales volumes up 20%, excess stock lying in closing stock and benefit of this will flow in Q3 FY’26. On LFL basis this is maintained at PY level. However, these will be reducing further with the initiatives,

− Longterm arrangement for major raw

materials

− Infrastructure developments for raw material handling viz. BCFC projects − Maximization of cheaper raw material, replacing costlier raw materials viz. activated gypsum etc.

(19% of total cost)

In current quarter Clinker production up 43% vs sales volumes up 20% and excess stock lying in closing inventory and benefit of this will flow in Q3 FY’26. On Like for like basis power & fuel cost is lower by 5% YoY & 6% QoQ, led by following actions

− Green power share, up 14.3PP @32.9% − Improving Captive coal share & Fuel fuel that flexibility consumption be maximized resulting in Kiln fuel lower by 3 Ps @160p/’000 kCal (excl. AFR) , lowest amongst peers

low-cost

can

− Maximization of cheaper AFR material (32% of total cost)

There is decrease in other expenses aligned with the ongoing integration of recently acquired assets. As integration progresses successfully and efficiencies are realized, these costs are expected to reduce further in the coming quarters (19% of total cost)

Costs are on downward trends quarter on logistics excellency quarter and ongoing journey is going to bring down these costs further, to name a few of these initiatives

– Modal shift of transport mode, Increasing share of waterway mode (to reach ~5% by FY’28)

– Automation and Digitization – Wheeler alignment to optimize trucking

size & optimize freight costs

– Improve Direct dispatches – Footprint optimization & new GUs – Longterm contract with CONCOR – Negotiations of freight & handling rate (29% of total cost)

1. Excluding incremental other expenses related to new assets

Adani group synergies have started giving results wherein total cost reduced by 5% YoY

Performance Highlights

Cost Reduction Journey

Aim to achieve total cost ~ Rs. 4,000 PMT by Mar’26 exit. It will set pace for further 5% reduction each year over next two years, putting trajectory to achieve Rs. 3,650 PMT by end of FY 28

Particulars

Exit Mar’26

Raw materials

Power & Fuel

Logistics

Other overheads

Rs PMT

~4,000

~50

~200

~100

~50

Exit Mar’28

~3,600 - 3,650

• Higher share of coal consumption (reduced petcoke) supported with group synergies, benefit of withdrawal of coal cess

• Latest technology of new capacities of IU/GU providing improved operational efficiencies (heat /power consumption)

(average age of Plants will come down by at least 40% further)

• Lead distance expected to come down by 50 Km with the revised 155 MTPA capacity, sea logistics share to reach 5%

• 60% Green power share to reduce power to Rs. 4.5 per kwh (current power cost of Rs. 6.0 per kwh)

• Long term tie-ups of Fly Ash & Slag to ensure supplies at sustainable costs, reduce clinker factor by 1%

Capex updates

Capacity Roadmap

Capacity Roadmap: ~107 at present, 118 by Mar’26 and 155 MTPA by FY’28

Sanghi (6.1 MTPA) Asian (1.5 MTPA)

Penna (10 MTPA) Orient (8.5 MTPA)

Organic Growth

+9 MTPA

+20 MTPA

+10 MTPA

Organic Growth

+48 MTPA

140

Sept’22 (Acquisition)

FY24 Capacity

FY25 Closing Capacity

107

4 Farakka, Sankrail, Sindri, Krishnapatnam and Debottlenecking

5 Current Capacity

Ongoing Organic expansion (Details on next slide)

Pipeline

Debottlenecking

Completion Timeline

Sept’25

By FY’26

BY FY’28

5.6 MTPA by FY’27 9.4 MTPA in FY’28

* At a much lower capex cost of ~ $48/ton

155

10 FY28E Capacity Upped from 140 MTPA

Capacity Roadmap

Capacity Roadmap: Incremental capacity of 12.6 MTPA to be completed by end of FY’26

Projects under execution

Bhatapara Line 3

Salai Banwa

Marwar

Dahej Line-2

Kalamboli

Bathinda

Jodhpur - Penna

Warisaliganj

Maratha Line 2

Total Capacity

Unit

State

Capacity (MTPA)

Clinker

Cement

Expected Completion

Particulars

Capacity (MTPA)

Chhattisgarh

4.0

Uttar Pradesh

Rajasthan

Gujarat

Maharashtra

Punjab

Rajasthan

Bihar

3.0

Maharashtra

4.0

2.4

1.2

1.0

1.2

2.0

2.4

11.0

12.6

107

12.6

(1.6)

118

Q3 FY26

Existing Capacity

Q3 FY26

Incremental Capacity

Less: Capacity with higher operating cost used selectively (Jamul & Sindri)

Total available capacity by FY’26

Q3 FY26

Q4 FY26

Q1 FY27

• Standardized Grinding Unit of 2.4 MTPA for one mill (~7,200 TPD) (PPC basis) • Standardized Clinkering Unit of 4 MPTA for one Kiln (~12,000 TPD)ss

Capacity Roadmap

Capacity Roadmap: ~Debottlenecking of 15 MTPA by FY’28

Debottlenecking (FY’27)

Additional Capacity

Debottlenecking (FY’28)

Additional Capacity

Jamul

Chanda

Sindri

Nalagarh

Ropar

Roorkee

Maratha

Total FY’27

0.3

1.1

2.2

5.6

Boyareddypalli

Rabriyawas

Tandur

Bhatapara

Wadi

Tikaria

Total FY’28

Total Debottlenecking

1.1

1.2

2.2

2.7

9.4

• Debottlenecking to add ~15 MTPA capacity by FY’28 at a much lower capex cost of ~ $48/ton, taking total capacity to ~

• •

155 MTPA (i.e., 10% of originally planned capacity of 140 MTPA) The debottlenecking and ongoing expansions will add 5.6 MTPA in FY 27 and 9.4 MTPA in FY 28 In addition to above, 13 blenders will be installed at plants over a period of 12 months which will improve product mix and give higher share of premium cement, in turn improve realizations

• Standardized Grinding Unit of 2.4 MTPA for one mill (~7,200 TPD) (PPC basis) • Standardized Clinkering Unit of 4 MPTA for one Kiln (~12,000 TPD)ss

Performance Highlights

Ambuja Cement (consolidated): Cash & Cash Equivalents position

Synopsis of the movements in Cash & Cash Equivalent

Particulars

Opening balance as on 1st Apr 2025

(+) Cash flow from operating activities

(+) Cash flow from Investing activities

(+) Cash flow from Financing activities

Free Cash (other than lien marked )- as on 30th Sept 2025

(+) Lien marked cash for CCI and other ongoing matters

Total Cash & Cash Equivalents as on 30th September 2025

₹ Crs

10,125

1,444

(8,658)

(1,098)

1,490

323

1,813*

* Subsequent to quarter ended September 30 2025, Income tax refund Rs 746 Cr received in Oct’25

Cash & Cash Equivalent

Cash & Cash Equivalent for the last Seven quarters Cash & Cash Equivalent for the last Seven quarters

10,125

Orient acquisition ~ Rs 5,910 Cr

2,971

1,813

Mar'25

Jun'26

Sep'26

Net worth increased by ₹ 3,057 Crs during Q2FY’26 and now stands at ₹ 69,493 Crs.

Company continues to remain Debt Free Crisil AAA (stable) / Crisil A1+ ratings maintained

1. Includes Lien marked Cash of 313 Cr

04 ESG

Overview

ESG updates

ESG Framework I Adani Group Vision & ESG Framework

Vision

To be a world class leader in businesses that enrich lives and contribute to nations in building infrastructure through sustainable value creation.

Policies

Assurance

ESG

Guiding principle

Commitment

ESG Guiding Framework

ESG Rating Agencies

S&P CSA (DJSI)

NSE

Our ESG Ambition

• Net Zero

• Waste to Resource

• Water Positive

• Biodiversity Positive

• Zero Harm

• Engaged Communities

• Zero Non-Compliance

ESG updates

Impressive ESG credentials and resilient credit ratings

Rating Agencies

Ambuja

DJSI (CSA)

CDP – Climate Change

CDP – Water Security

CDP – Supplier Engagement Assessment

Sustainalytics

MSCI

CRISIL

NSE

A-

ACC

A-

25.6 (19/119) - Medium Risk

20.3 (5/119) - Medium Risk

–

56 (Adequate)

57 (Adequate)

Care Edge

Under process

Ambuja along with it’s subsidiary ACC are India’s leading and globally one of the four large scale cement companies with science-based net-zero targets validated by the SBTi for near term 2030 and long term 2050

ESG updates

ESG Dashboard

Material topic

Ambuja

ACC

UN SDGs

Climate & Energy (Gross specific CO2 emissions - Kg/T)

2030 TARGETS

STATUS Q2 FY 26

2030 TARGETS

STATUS Q2 FY 26

442*

553

421*

538

Climate & Energy (Green Power)

60.0%

36.1%

60.0%

30.3%

Circular Economy (Use of waste derived resources in MnT)

Water & Nature (Water Positive)

Water & Nature (Trees Planted - Million)

People & Community (beneficiaries – million)

* As per SBTi validated target

21.0

1.9

10.0x

29.6x

2.4

5.0

1.5

till FY25

3.6

till FY25

30.0

5.0x

5.9

3.5

2.5

5.6x

5.1

till FY25

2.1

till FY25

Corporate Social Responsibility

ESG updates

Corporate Social Responsibility

Water Resource Management

Agriculture

Activity

Achievement

Activity

Achievement

Building RRWHS

Ponds Renovated

Awareness Camps

134

Micro-Irrigation coverage

546 hectares

Trainings on Agriculture Activities

17,684

Biomass supplied to Ambuja Cements

6,488 tonnes

ESG updates

Corporate Social Responsibility

Sustainable Livelihood Development

Activity

Achievement

Activity

Achievement

Newly SHGs formed

Awareness sessions on WASH

629

Truckers & Allied Population reached through health activities

39,496

Youth Trained

1,903

Beneficiaries screened under NCD

6,940

ESG updates

Board & Committee Structure

100% IDs

Chaired by IDs

Statutory Committees

- Audit

- Nomination & Remunerations

- Stakeholder Relationship

- Corporate Social Responsibility

- Risk Management

Non-statutory Committees

- IT & Data Security

- Corporate Responsibility

- Mergers and Acquisition

- Legal, Regulatory & Tax

- Reputation Risk

- Public Consumer

- Commodity Price Risk

🗹 🗹

🗹

🗹 🗹 🗹

🗹

🗹 🗹 🗹

🗹

40% Comprised of only Independent Directors

100% of Statutory Committees Chaired by Independent Directors

7 Additional Business specific committees 29% Fully comprised of Independent Directors 100% Chaired by Independent Directors

Pathway to strengthen Corporate Governance

• Tenure of IDs – upto 3 years for max. 2 terms

• Gender Diversity – Min. 30% female directors

• Management Ownership – CEO and member of executive committees

to have share ownership

• Related Party Transactions – Independent 3rd party review &

certification

• Training & Education – Min. 4 sessions in a year for education of IDs

Board of Directors

Independent Directors

Purvi Sheth

Ameet Desai

Rajnish Kumar

Maheshwar Sahu

Praveen Garg

40+ Yrs of Experience Skill & Expertise • Human Resource

Management

• Leadership

Management

30+ Yrs of Experience Skill & Expertise • Business strategy &

Policies • Finance • Regulatory Compliance

40+ Yrs of Experience Skill & Expertise • Banking • Corporate credit &

project finance

40+ Yrs of Experience Skill & Expertise • Strategic Management • Corporate Governance

33+ Yrs of Experience Skill & Expertise • Corporate Strategy • Finance • ESG & Climate Change

Non-Independent Directors

Chairman of Audit committee; Chairperson of Nomination and Remuneration committee Chairperson of Corporate Responsibility committee I ID: Independent Director I NID: Non-Independent Director | WTD: Whole Time Director l CEO: Chief Executive Officer

Gautam Adani Chairman

Karan Adani Director

Ajay Kapur Managing Director

Skill & Expertise • Entrepreneurial Vision • Business Leadership

10+ Yrs of Experience Skill & Expertise • Industry expert • Strategic development • Operational efficiency

30+ Yrs of Experience Skill & Expertise • Industry expertise • Corporate Strategy • Business leadership

Vinod Bahety WTD and CEO

25+ Yrs of Experience Skill & Expertise • Banking & Finance • Manufacturing • Professional Entrepreneur • Business Strategies & Policies

05 Annexures

Historical Financial Performance | Consolidated Profit & Loss

Particulars

Unit

FY23 (15 M)

FY24

FY25

H1FY26

Revenue from Operations

Other Income

Total Income

Raw Material Cost

Employee Benefit Cost

Power and Fuel Cost

Freight and Forwarding Cost

Other Expenses

Total Operating Expenses

Operating EBITDA1

Depreciation and Amortization Finance Costs

Taxes

Exceptional Items - Expense/ (Income)

Sub-total

Add: Share of Profit from Associates/ JVs

₹ Cr

₹ Cr ₹ Cr

₹ Cr

38,937

738

39,675

5,111

1,857

11,762

9,524

5,562

33,815

5,122

1,645 195

705

319

2,864

33,160

1,166

34,326

5,526

1,353

8,086

8,001

3,795

35,045

2,654

37,699

6,527

1,403

8,348

8,301

4,494

26,760

29,074

6,400

1,628 276

1,161

(212)

2,854

5,971

2,478 216

764

3,480

19,464

513

19,977

2,833

823

4,793

4,486

2,807

15,742

3,722

1,684 144

(1,086)

183

924

PAT

₹ Cr

3,025

4,735

5,158

3,319

* H1 FY’26 EBITDA for existing assets (Ambuja +ACC) stands at Rs 1,150/ton 1 – does not include other income

H1FY’26 Insights

35 MTPA Volume

₹ 19,464 Cr Revenue from Operations

₹ 3,722 Cr EBITDA1

₹ 1,064/ Tonne* EBITDA/ Tonne

19.1% EBITDA Margin

Historical Financial Performance | Consolidated Balance Sheet

Particulars

Assets Non-Current Assets Property, Plant and Equipments Right of Use Assets Capital Work-in-Progress Goodwill Other Intangible Assets Other Non-Current Assets Total Non-Current Assets

Current Assets Cash and Cash Equivalents Inventories Trade Receivables Other Assets Total Current Assets Total Assets Liabilities

Equity

Equity Share Capital Other Equity Non-Controlling Interest Total Equity

Liabilities Borrowings Trade Payables Tax Liabilities Other Liabilities Total Liabilities

Total Equity and Liabilities

Unit

As on 31-Mar-23

As on 31-Mar-24

As on 31-Mar-25

As on 30-Sep-25

₹ Cr ₹ Cr ₹ Cr ₹ Cr ₹ Cr ₹ Cr ₹ Cr

₹ Cr ₹ Cr ₹ Cr ₹ Cr ₹ Cr ₹ Cr

₹ Cr ₹ Cr ₹ Cr ₹ Cr

₹ Cr ₹ Cr ₹ Cr ₹ Cr ₹ Cr

₹ Cr

14,729 588 2,526 7,870 364 6,397 32,474

11,530 3,273 1,154 3,290 19,247 51,721

397 31,301 7,058 38,757

48 2,774 2,498 7,646 12,965

51,721

19,987 758 2,658 8,803 2,647 6,285 41,137

15,999 3,609 1,190 3,169 23,966 65,104

440 41,012 9,391 50,843

37 2,964 4,013 7,247 14,261

24,656 1,465 9,820 10,856 5,666 8,772 61,235

10,125 4,248 1,590 3,747 19,710 80,945

493 52,951 10,368 63,811

27 2,759 5,129 9,219 17,134

31,933 1,593 10,473 12,862 10,151 7,041 74,054

1,813 5,397 1,858 5,588 14,656 88,710

494 55,752 13,247 69,493

332 3,742 5,353 9,790 19,217

65,104

80,945

88,710

Sept’25 Insights

₹ 88,710 Cr Total Assets Base

₹ 1,813 Cr Cash and Cash Equivalents

₹ 69,493 Cr Net-worth

Debt Free

AAA (stable)/ A1+ Ratings maintained by CRISIL

Note: Cash and Cash equivalents includes Bank Balances, Bank Deposits and Fixed Deposits with banks

Ecosystem Engagement

01 02

04 05

Dhanvarsha initiative recognised performance across the value chain through transparent, technology led rewards involving dealers, retailers, contractors, logistics partners, safety champions and their families. On 16th October, this event was participated by almost 175,000 partner members (online and offline)

CEO Club initiative launched to recognise top performing dealers, retailers, influencers, supply chain partners

Adani Cement FutureX launched as the industry's largest academia partnership with 400 academia encompassing 4 Lacs students to build human capital for Viksit Bharat 2047

NirmAAAnotsav – exclusive partnership programme in association with CREDAI progressing well with multi-city activation and events

First edition of SamvAAAd launched for our valued B2B partners from the cement and ready-mix concrete (RMX) segments - a collaboration to mutually shape the future of India’s infrastructure and construction landscape

Accolades & Awards

Adani Cement plants bag 10 awards including ‘National Energy Leader’ at 26th CII National Award for Excellence in Energy Management 2025

India's Most Trusted Cement Brand 2025’ by TRA Research in its Brand Trust Report 2025; consecutively for 4th year in a row.

Recognised with the ‘Best CX and Influencer Mastery’ award at 12th Digital Customer Experience Confex & Awards 2025

Honoured with Safety Excellence Awards at the 7th Indian Chamber of Commerce National Occupational Health & Safety Awards

Abbreviations

AEL

ATGL

Adani Enterprises Limited

Adani Total Gas Ltd

APSEZ

Adani Ports and Special Economic Zone Limited

AESL

APL

AGEL

AAHL

ARTL

ANIL

AWL

ADL

NDTV

AIMSL

OCL

GDP

MSCI

Adani Energy Solutions Limited

Adani Power Limited

Adani Green Energy Limited

Adani Airport Holdings Limited

Adani Roads Transport Limited

Adani New Industries Limited

Adani Wilmar Limited

Adani Digital Limited

New Delhi Television Ltd

Adani Infra Mgt Services Pvt Ltd

Orient Cement Limited

Gross Domestic Product

Morgan Stanley Capital International

NABARD

National Bank For Agriculture And Rural Development

Letter of Credit

RRWHS

Rainwater Harvesting System

SBTi

CSR

ICC

Science Based Targets initiatives

Sustainable Development

Corporate Social Responsibility

Indian Chamber of Commerce

NQXT

North Queensland Export Terminal

ENOC

Energy Network Operation Centre

MnT.

CLC

PLI

TCO

AFR

WHRS

MTPA

BCT

IHB

O&M

PSU

NBFC

GCCA

ESG

B2C

SEDI

SHG

TSR

OPC

NCD

Million Tonne

Clinker and Cement

Production Linked Incentive

Total Cost Basis

RMX

BCCI

PMT

Financial Institution

Ready- Mix Concrete

Bulk Container Corporation of India

Per Metric Tonne

Alternate Fuels and Raw Material

CONCOR

Container Corporation of India Limited

Waste Heat Recovery System

Million Tonne Per Annum

Bulk Cement Terminal

Individual Home Builder

Grinding Unit

Environment Clearance

Operations & Maintenance

Public Sector Undertaking

FPC

GCC

EPC

DJSI

Farmer Producing Company

Global Capability Centre

Engineering, Procurement and Construction

Clinkerization Unit

Dow Jones Sustainability Index

CDP-CC

CDP Climate Change

CDP-WS

CDP Water Security

UN SDG

United Nations Sustainable Development Goals

Non-Banking Financial Company

Global Cement Concrete Association

Environmental, Social & Governance

Business to Consumer

Skill and Entrepreneurship Development Institute

Self Help Group

Thermal Substitution Rate

Ordinary Portland Cement

Non-Communicable Diseases

BCFC

WASH

ABS

ABSI

NRC

DWT

CREDAI

Bottom Discharge Wagon

Water, Sanitation & Hygiene

Association of Brest Surgeons

Association of Breast Surgery, India

Nomination and Renumeration Committee

Deadweight Tonnage

Confederation of Real Estate Developers’ Associations of India

Q2 FY’26 Earnings Conference Call

Management Representation

▪ Mr. Vinod Bahety - Chief Executive Officer

▪ Mr. Rakesh Tiwary - Chief Financial Officer

Details of the conference call

Time: 4:00 PM IST on Monday, November 03, 2025

Conference dial-in:

Universal

Hong Kong

Singapore

Australia

+91 22 6280 1552

+91 22 7115 8370

800 964 448

800 101 2045

0 080 014 243444

0 808 101 1573

Disclaimer

Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Ambuja Cements Limited (“Ambuja”), the future outlook and growth prospects, and future developments of the business and the competitive and regulatory environment, and statements which contain words or phrases such as ‘will’, ‘expected to’, etc., or similar expressions or variations of such expressions. Actual results may differ materially from these forward-looking statements due to number of factors, including future changes or developments in their business, their competitive environment, their ability to implement their strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in India. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell, any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of Ambuja’s shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of Ambuja.

Ambuja, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation. Ambuja assumes no responsibility to publicly amend, modify or revise any forward-looking statements, based on any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. Ambuja may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes.

No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of Ambuja.

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 this presentation 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, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom.

For further info, please contact:

CA Deepak Balwani Head, Investor Relations deepak.balwani@adani.com

Ambuja Cements Limited Registered office: Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S.G. Highway, Ahmedabad – 382421. Ph: +91 79265 65555; www.ambujacement.com; CIN: L26942GJ1981PLC004717

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