Meghmani Organics Limited (MOL)

Q3 & 9MFY18 Investor Presentation (February 2018)

1
Q3FY18: Robust growth in net sales and profitability
Pigments: 33% growth in Net Sales led by higher volumes

Net Sales
(In Rs mn)
4,431 

Net Sales up 33% driven by 52% growth in exports
Sales volume up 23% with increased realisations
 EBITDA increased 6% YoY to Rs 206 mn led by higher Net Sales, EBITDA
Up 41% YoY
margin at 14%
 Utilisation at 75%, up from 70% in Q3FY17

EBITDA
(In Rs mn) 1,172 Agrochemicals: Net Sales up 54%, EBITDA Margin up at 19%
Up 93% YoY
 Net Sales up 54% led by robust growth in exports (up 64%) and
domestic market (up 32%)
Margin 26.5% 

Sales volume up 18% along with higher realisations
Increased capacity utilisation at 58%
 EBITDA up 4.6X to Rs 282 mn led by higher realization on products
& sale of higher margin products, EBITDA Margin up at 19%
PAT
(In Rs mn) 435
Up 118%
Basic Chemicals: Net Sales up 55%, EBITDA Margin up at 45%
Margin 9.8%  Net Sales up 55% on account of higher blended realisations and sales
volume up 11%
 Utilisation up at 83%
 EBITDA Margin of 45%
2
Q3FY18 Performance

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 3

Stellar performance driven by growth in all segments
Consolidated, Figures in Rs mn

Net Sales EBITDA / Margin PAT bef Minority PAT / Margin

5,000

4,431 1,400 700

626 500
435
12%

4,500 1,172 28%

450
1,200 600
10%
4,000
400
3,153 26.5%
3,500 1,000 23% 500
350
9.8% 8%

3,000
300
800 400

2,500 606 18% 271 250 200 6%

600 300
2,000
200
41% YoY 93% YoY 131% YoY 118% YoY
4%
1,500
400
19.2% 13%
200
150
6.3%
1,000
100
2%
200 100
500
50
-
- 8% - - 0%

Q3 FY17 Q3 FY18 Q3 FY17 Q3 FY18 Q3 FY17 Q3 FY18 Q3 FY17 Q3 FY18

EBITDA Margin PAT PAT Margin

 Net Sales up 41% at Rs 4,431 mn driven by strong exports growth of 45% and domestic growth of 35%; Exports
contributing 56% to Net Sales
 EBITDA up 93% as raw material cost as percentage of Net Sales declined from 54.7% to 52.0% while other costs
as a percentage of Net Sales declined from 22.9% to 18.5%
 Interest outflow down 22% to Rs 99 mn compared to Rs 128 mn in Q3FY17 with reduced debt
 PAT increased 118% to Rs 435 mn; PAT margin at 9.8%

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 4

Pigments: 33% growth in Net Sales led by higher volumes
Consolidated, Figures in Rs mn

Net Sales Sales volume (in MT) Production/Utilization EBITDA/Margin

1,600
1,488 5,000 8,000 120% 250 30%

4,500 4,030 195 206

1,400 7,000
6,004 100% 25%

1,200
1,115 4,000
3,273 6,000 5,466 200

3,500
80% 20%
1,000 5,000
3,000 150

800 2,500 4,000

70% 75% 60% 15%

600
2,000
3,000 100 17%
33% YoY 1,500 23% YoY 10% YoY 40% 6% YoY 14% 10%

400 2,000
1,000 50
20% 5%
200 1,000
500

- - - 0% - 0%

Q3 FY17 Q3 FY18 Q3 FY17 Q3 FY18 Q3 FY17 Q3 FY18 Q3 FY17 Q3 FY18

Production (MT) Utilization EBITDA EBITDA Margin

Note: Including intersegment data, excluding Excise duty

 Net Sales up 33% YoY at Rs 1,488 mn, driven by robust growth of 52% in exports; exports share at 85%
• Net Sales in Domestic market declined due to increased focus on higher margin exports
• Total sales volume up 23% YoY, with higher blended realization
 EBITDA increased 6% YoY to Rs 206 mn led by higher Net Sales while EBITDA Margin declined marginally to 14%
 Utilization increased to 75% compared to 70% in Q3FY17, production up 10% YoY

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 5

 Agrochemicals: Net Sales up 54%, EBITDA up 4.6X
Consolidated, Figures in Rs mn

Net Sales Sales volume (in MT) Production/Utilization EBITDA/Margin

4,500 100%
1,600
1,514 3,844 3,891 90%
400

1,500
4,500
4,246 4,000

80%
350
23%

1,400
4,000 3,592
3,500

70%
300
282
18%
1,300 3,000

1,200
3,500

2,500
60% 250 19%
3,000 13%
50%
1,100
986 2,500
2,000 57% 58% 40%
200

1,000 150 8%
2,000 1,500
30%
900
54% YoY 1,500 18% YoY 1,000
20%
100
51 456% YoY 3%
800
1,000 500 50
10%
700
500
- 0% -
5% -2%
600
-

Q3 FY17 Q3 FY18 Q3 FY17 Q3 FY18

Q3 FY17 Q3 FY18 Q3 FY17 Q3 FY18 EBITDA EBITDA Margin
Production (MT) Utilization

Note: Including intersegment data, excluding Excise duty

 Net Sales increased by 54% YoY to Rs 1,514 mn led by robust growth in Domestic and Exports market, up 32%
and 64%, respectively
• Exports market contributed 69% to Net Sales compared to 64% in Q3FY17
• Sales volume up 18% coupled with strong growth in blended realizations on account of increased sale of
higher margin products
 EBITDA increased 456% on account of higher realization on products; EBITDA Margin up at 19% as compared to
5% in Q3 FY17
 Utilization at 58%, Production increased marginally

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 6

Basic Chemicals: Net Sales up 55% and EBITDA up by 94%
Consolidated, Figures in Rs mn
Net Sales Sales volume (in MT) Production/Utilization EBITDA/Margin
1,600
1,514 50,000 120% 800 60%

1,400
37,974 684
41,000
45,000
38,876 700

1,200 34,086 40,000

35,483 100% 50%

975 36,000

35,000
600

1,000 80% 40%

45%
31,000
500
30,000

26,000 83% 353

800
25,000
76% 60% 400 30%

600 55% YoY 21,000

11% YoY 20,000 10% YoY 94% YoY
300
16,000 40% 20%

400

11,000
15,000

10,000
200 36%
20% 10%
200
100
6,000 5,000

- 1,000 - 0% - 0%

Q3 FY17 Q3 FY18 Q3 FY17 Q3 FY18 Q3 FY17 Q3 FY18 Q3 FY17 Q3 FY18

Production (MT) Utilization EBITDA EBITDA Margin
Note: Including intersegment data, excluding Excise duty

 Net Sales up 55% YoY at Rs 1,514 mn driven by strong growth in blended realisations coupled with higher sales
volume
 EBITDA up 94% YoY to reach Rs 684 mn, EBITDA Margin at 45%
 Utilisation at 83%, Caustic potash plant ramped up to a higher level of 70%
 Chloromethane plant of 40,000 MTPA progressing as per plan, expected to be commissioned by Dec’18

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 7

Strong growth in Domestic and Exports market

Q3FY17 Q3FY18

Exports Domestic Exports

Domestic 54% 44% 56%
46%

Consolidated, Figures in Rs mn
 Exports grew 45% driven by robust
Segmental breakdown growth across Pigments (up 52%),
Q3FY17 Q3FY18 Agrochemicals (64%) and Basic
Exports Domestic Total Exports Domestic Total Chemicals (49%).
Pigments 770 281 1,051 1,171 207 1,378
Agrochemicals 634 352 986 1,041 465 1,506
 Domestic business grew by 35% led by
Basic
strong growth in Agrochemicals and
74 816 890 110 1,286 1,396 Basic Chemicals, marginally offset by
Chemicals
Others 227 0 227 151 0 151 lower Net Sales in Pigments
Total 1,704 1,449 3,153 2,473 1,958 4,431

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 8

9MFY18 Performance

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 9

9MFY18: Strong growth in net sales and higher profitability
Consolidated, Figures in Rs mn

Net Sales EBITDA / Margin PAT bef Minority PAT / Margin

15,200
3,500
3,112 1,800
1,610 1,400
1,211
12%

13,116 28% 1,600

13,200
3,000 1,200 10%

11,200
10,520 2,500 2,150
1,400

1,000
23% 1,200

9.2% 8%

9,200 2,000 23.7% 1,000 876 800

640 6%

7,200 1,500 20.4% 18% 800

600
6.1%
25% YoY 45% YoY 600
84% YoY 89% YoY
4%

5,200 1,000 400

13% 400

2%
3,200
500 200
200

1,200
- 8% - - 0%

9M FY17 9M FY18 9M FY17 9M FY18 9M FY17 9M FY18 9M FY17 9M FY18

EBITDA Margin PAT PAT Margin

 Net Sales up 25% at Rs 13,116 mn driven by strong exports growth of 32% and domestic growth of 17%; Exports
contributing 53% to Net Sales
 EBITDA up 45% as raw material cost as percentage of Net Sales declined from 57.1% to 53.1% while other cost
as a percentage of Net Sales increased from 19.5% to 20.2%
 Interest outflow was down 24% to Rs 307 mn compared to Rs 404 mn in 9MFY17 with reduced debt
 PAT increased 89% to Rs 1,211 mn; PAT margin at 9.2%

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 10

Pigments: Net Sales up 18%, EBITDA Margin at 15%
Consolidated, Figures in Rs mn

Net Sales Sales volume (in MT) Production/Utilization EBITDA/Margin

5,000

4,320
24,000 120% 700
614 630 30%

14,000
12,167 18,694
4,500

4,000 3,669 19,000

100%
600 25%

3,500
12,000
10,146 14,415 500
10,000
80% 20%

3,000 14,000
400
2,500
8,000 78% 60% 15%

9,000
300 17%
15%
2,000
6,000

18% YoY 20% YoY 30% YoY 40% 3% YoY 10%

62%
1,500

4,000
200
1,000 4,000
20% 5%
2,000 100
500

- - (1,000) 0% - 0%

9M FY17 9M FY18 9M FY17 9M FY18 9M FY17 9M FY18 9M FY17 9M FY18

Production (MT) Utilization EBITDA EBITDA Margin

Note: Including intersegment data, excluding Excise duty

 Net Sales up 18% YoY at Rs 4,320 mn, driven by robust growth of 39% in exports; exports contribution at 78%
• Net Sales in Domestic market declined, contributing 22%
• Total sales volume up 20% YoY while blended realization was marginally down
 EBITDA increased by 3% to Rs 630 mn in the period, EBITDA margin at 15%
 Utilization increased to 78%, production up 30% YoY

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 11

Agrochemicals: Significant margins expansion with EBITDA up 153%
Consolidated, Figures in Rs mn

Net Sales Sales volume (in MT) Production/Utilization EBITDA/Margin

5,600
18,000 100% 1,000
905
5,100
4,973 16,000
14,408 90% 900
23%

16,000

14,161 14,000 12,644 80% 800

4,600
14,000 12,777 18%

4,100 3,744 12,000

70% 700

3,600
12,000
10,000
71% 60% 600 18% 13%

62% 50% 500

3,100
10,000
8,000
40% 400
358
8,000 8%
2,600
6,000
30% 300
2,100
33% YoY 6,000
11% YoY 4,000 14% YoY 20% 200
10% 153% YoY 3%
1,600 4,000
2,000 10% 100
1,100
2,000
- 0% - -2%
600
-

9M FY17 9M FY18 9M FY17 9M FY18

9M FY17 9M FY18 9M FY17 9M FY18 EBITDA EBITDA Margin
Production (MT) Utilization

Note: Including intersegment data, excluding Excise duty

 Net Sales increased by 33% YoY led by strong growth in exports as well as domestic market, up 39% and 23%,
respectively.
• Exports market contributed 64% to Net Sales compared to 61% in 9MFY17
• Sales volume up 11% coupled with strong growth in blended realizations
 EBITDA increased 153% on account of higher realization on products and sale of higher margin products; EBITDA
Margin up at 18%
 Utilization at 71%, Production up 14% YoY

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 12

Basic chemicals: Net Sales up 36% and EBITDA up 46%
Consolidated, Figures in Rs mn
Net Sales Sales volume (in MT) Production/Utilization EBITDA/Margin
4,500
3,978 120% 1,800
1,617 60%

1,06,8 1,19,6
1,41,000

1,02,3 1,16,1
4,000 1,40,000
1,600

01 22
100% 50%

2,931
3,500 1,21,000

95 69 1,20,000
1,400

3,000
1,01,000
1,00,000 80% 1,200
1,111 40%

2,500
81,000 85% 1,000
41%
76% 38%
80,000
60% 30%
2,000
800
36% YoY 61,000 13% YoY 60,000 12% YoY 46% YoY
1,500
40% 600 20%

41,000 40,000
1,000
400
20% 10%
500 21,000 20,000
200

- 1,000 - 0% - 0%

9M FY17 9M FY18 9M FY17 9M FY18 9M FY17 9M FY18 9M FY17 9M FY18

Production (MT) Utilization EBITDA EBITDA Margin
Note: Including intersegment data, excluding Excise duty

 Net Sales up 36% YoY at Rs 3,978 mn driven by strong growth in sales volume and higher realisations
 EBITDA up 46% YoY to reach Rs 1,617 mn
• EBITDA Margin at 41% as compared to 38% YoY
 Utilisation up at 85%, Production increased 12%

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 13

Exports and Domestic markets deliver strong Net Sales growth

9MFY17 9MFY18

Exports Exports
50% 53%
Domestic
Domestic 47%
50%

Consolidated, Figures in Rs mn
 Exports segment grew 32% driven by
Segmental breakdown robust growth across Pigments (up 39%),
9MFY17 9MFY18 Agrochemicals (39%) and Basic
Exports Domestic Total Exports Domestic Total Chemicals (52%).
Pigments 2,277 1,184 3,461 3,158 871 4,029  Domestic business increased 17% led by
Agrochemicals 2,271 1,473 3,744 3,159 1,806 4,965 strong growth in Basic Chemicals (up
Basic 35%) and Agrochemicals ( up 23%)
144 2,545 2,689 220 3,433 3,653
Chemicals marginally offset by lower Net Sales in
Others 620 6 626 469 0 469
Pigments.
Total 5,312 5,208 10,520 7,006 6,110 13,116

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 14

Company Overview

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 15

MOL – Leading diversified chemical company
Strategic expansion in higher-value products coupled with increasing utilisations drive strong performance. . .
 14% global market share; among top 3 (Capacity
wise) global pigments players
FY17 9MFY18
 Products include CPC Blue, Pigment Green,
Pigment Blue Net Sales (Rs bn) 14.0 13.1
 78% Net Sales from exports in 9MFY18, brand
presence in 70 countries EBITDA Margin 20.6 23.7%
 Strong client relationships; 90% business from
Pigments repeat clients
PAT Margin 6.3% 9.2%
 Manufactures Insecticides and Herbicides,
 Products across the entire value chain ROCE 16.6% 19.4%*
 Wide range of bulk & branded products - Megastar,
Megacyper, Megaban, Synergy Domestic: Exports 49:51 47:53
 64% Net Sales from exports in 9MFY18; key
markets include US, Brazil, Argentina, China, etc.
Agrochemicals  Building pan-India presence
Rs 6.5 bn Capex (last 5 yrs)

 4th largest Caustic-Chlorine capacity in India 450+ Marquee Clients

 Strategically located facility at Dahej – proximity to
raw material and customers 75+ Countries
 Expansion into Caustic Potash to drive growth
 High EBITDA Margin of 41% in 9MFY18
750+ Registrations
Basic Chemicals
* ROCE is as on Sep’17

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 16

With strong execution capabilities. .
Pigments
 Vatva Plant: 2,940 MTPA
Total Capacity:  Panoli Plant: 17,400 MTPA
31,890 MTPA  Dahej SEZ Plant: 11,550 MTPA

Agrochemicals
 Ankleshwar Plant: 6,420 MTPA
Total Capacity:  Panoli Plant: 7,200 MTPA
27,060 MTPA  Dahej Plant: 13,440 MTPA

Basic Chemicals  Caustic Soda: 1,66,600 MTPA to be

increased to 2,50,000 MTPA by June’19
Total Capacity:  Caustic Potash: 21,000 MTPA
187,600MTPA  CMS: 40,000 MTPA by Dec’18
 Hydrogen Peroxide: 25,000 MTPA by
June’19

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 17

Vertically integrated facilities across all businesses

Pigment Blue
CPC Blue
Pigment Green

Upstream product: Sold to other End products: Sold to industrial users i.e.
pigments manufacturers inks, paint and plastic manufacturers
Pigments

Pesticide Intermediates Sold to technical grade pesticides manufacturers

Technical Grade Pesticides Sold to pesticides formulators

Sold to institutional
Bulk Packing customers
Pesticide Formulations
Sold to retailers,
Brand Business dealers and directly to
Agrochemicals farmer societies

Caustic-Chlorine Plant
60 MW Power
Plant
Caustic-Potash Plant

Power is a major raw material to End products: Sold to industrial users i.e. pharmaceutical,
manufacture Basic Chemicals soap, detergent, PVC, chemical and textile manufacturers
Basic Chemicals
Meghmani Organics Limited  Earnings Presentation | Q3 FY18 18
Rs 5.4 bn capex underway for strong future growth
MOL holds 57% stake in MFL, which is planning the Capex of Rs 5.4 bn

Rs 1.4 bn Rs 4 bn

Dichloro Chloromethane (CMS

Hydrogen Peroxide Project Caustic Soda Expansion
Project)

 Setting up a Chloromethane plant of
40,000 MTPA
 Will cater to captive consumption of
chlorine and produce MDC (for
which India is currently a net
importer), Chloroform and Carbon
Tetra Chloride
 Expected to be commissioned by
Dec’18
 Expected to add Rs 1.2 bn of Net
Sales post full year of operation
 Setting up a Hydrogen Peroxide  Increasing capacity by 300 TPD
project of 25,000 MTPA using Zero gap Membrane
Technology.
 Increasing Captive Power Plant
capacity from 60 MW to 90 MW
 Expected to be commissioned by June’19
 Expected to add Rs 3 bn of Net Sales in
full year of operation FY21

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 19

High growth: 5 year EBITDA CAGR of 12%
Consolidated, Figures in Rs mn

Net Sales and Growth EBITDA and EBITDA Margin

19.9% 20.6%
13,996 4000

17.8%
22.5%

12,678 13,133 3500 16.9% 16.0%

11,569 2,888 17.5%

10,402 3000 2,608

2500

1,852 1,959 2,031 12.5%

2000

7.5%
1500

1000
2.5%

500

0 -2.5%

FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17
EBITDA EBITDA Margin

PAT and PAT Margin Debt Equity Ratio

1200 6.3% 6.3% 7.0%
1.5
1.4
6.0%
1000

825 878 1.2

5.0%
800

3.5% 0.9
4.0%

600

1.7% 2.0% 439 3.0% 0.6

400

172 228 2.0%

200
1.0%

0 0.0%

FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY16
PAT PAT Margin
Note: FY16 & FY17 are INDAS adjusted, rest all figures are as per previously applicable Indian GAAP
Meghmani Organics Limited  Earnings Presentation | Q3 FY18 20
Historical Segmental Analysis
Consolidated, Figures in Rs mn

Pigments Agrochemicals
7000
17% 20.0% 7000 20.0%
13% 13% 12%
6000 10% 5,143 15.0%
6000 10% 15.0%

4,688 10.0%
4,380 4,730
4,262
10.0%
5000
4,244 5000

5.0% 5.0%
4000 4000
0.0% 0.0%
3000 3000
-5.0% -5.0%

2000 2000
-10.0% -10.0%

1000 -15.0% 1000 -15.0%

0 -20.0% 0 -20.0%

FY15 FY16 FY17 FY15 FY16 FY17

Revenue EBITDA Margin Revenue EBITDA Margin

Basic Chemicals
6000 50.0%
38% 36%
5000 31% 40.0%

3,981 3,953
4000 3,518 30.0%

20.0%
3000
10.0%

2000
0.0%

1000
-10.0%

0 -20.0%

FY15 FY16 FY17

Revenue EBITDA Margin

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 21

Journey of growth. . .

Planned expansion of Rs 5.4 bn

• To Increase Caustic capacity by 300 TPD
• To Setup a Hydrogen Peroxide project of 25,000 MTPA
• To Setup a CMS plant of 40,000 MTPA

Expansion into Caustic Potash

New Pigment plant at Dahej SEZ & Expansion of Caustic-Chlorine facility

• Acquired Agro assets from Rallis and Singapore listing

• India listing & established MFL with IFC participation
• Started production in MFL & 2 new sites for Agro-chemical at Panoli and Dahej

• New Pigment plant setup at Panoli

• Private Equity investment in MOL
• Started Blue Pigment production at Panoli plant

Started operations and then converted into a Public Ltd. Co, setup 1st Agro plant

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 22

 Robust plan for next phase of growth

Pigments Sweating the Capacity

 Higher focus on Domestic market Installed capacity to
Growth drivers across businesses

Rs 6.5bn already spent

 Focus on untapped exports market over last 5 years to clock net sales of Rs
 Expand Value added product offerings increase capacity 20bn by FY19

Agrochemicals Deleveraging

Financial plan
Plan to pay-out
 Increase branded net sales; expand distribution DE Ratio reduced
from 1.6x in FY12 debt of Rs 91
network
to 0.6x in FY17 crore in FY18
 Enter new geographies via new registrations
Higher Margins
Basic Chemicals Better product mix, de-
 New caustic potash plant PAT margins improved
leveraging, capacity
 Planned capex of Rs 5.4 bn towards from 0.3% in FY12 to
sweating will lead to
• Increasing Caustic capacity by 300 TPD and 9.2% in 9MFY18 margin expansion
Power plant capacity to 90MW from 60 MW
• Setting up Chloromethane plant (40,000 MTPA)
• Setting up Hydrogen Peroxide project of Planned capex of Rs 5.4 bn
25,000MTPA

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 23

Annexure

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 24

P&L Statement (Consolidated): Q3 FY18
Figures in Rs Million
Particulars Q3 FY18 Q3 FY17 YoY (%) Q2 FY18 QoQ (%) 9M FY18 9M FY17 YoY (%)
Net sales / income from operations 4,431 3,153 41% 4,536 -2% 13,116 10,520 25%
Excise Duty on Sales - 307 -100% - #DIV/0! 398 899 -56%
Other Operating Income 74 56 31% 71 4% 207 174 19%
Total Income from Operations 4,504 3,516 28% 4,607 -2% 13,722 11,593 18%
Total Expenditure 3,332 2,910 14% 3,579 -7% 10,609 9,443 12%
Consumption of Raw Material 2,304 1,723 34% 2,464 -7% 6,965 6,008 16%
Personnel Cost 209 157 32% 214 -2% 591 489 21%
Other Expenditure 820 722 13% 901 -9% 2,655 2,047 30%
Excise Duty - 307 -100% - #DIV/0! 398 899 -56%
EBITDA 1,172 606 93% 1,028 14% 3,112 2,150 45%
Depreciation & Amortisation 244 190 29% 236 4% 710 683 4%
EBIT 928 416 123% 792 17% 2,402 1,467 64%
Interest & Finance Charges 99 128 -22% 101 -2% 307 404 -24%
Other Income 15 74 -79% 106 -85% 166 138 20%
PBT before exceptional items 844 363 133% 797 6% 2,261 1,200 88%
Exceptional items - - NM - NM - 24 NM
PBT 844 363 133% 797 6% 2,261 1,177 92%
Tax Expense 218 92 138% 246 -11% 651 301 116%
PAT (From ordinary activities) 626 271 131% 551 14% 1,610 876 84%
Extraordinary items - - NM - NM - - NM
PAT 626 271 131% 551 14% 1,610 876 84%
Minority Expense 191 72 167% 103 86% 399 236 69%
PAT after Minority 435 200 118% 448 -3% 1,211 640 89%
Key Ratios as a % of Total Net Sales Q3 FY18 Q3 FY17 Q2 FY18 9M FY18 9M FY17
EBITDA 26.5% 19.2% 22.7% 23.7% 20.4%
PAT 9.8% 6.3% 9.9% 9.2% 6.1%
Total Expenditure 75.2% 82.6% 78.9% 77.9% 81.2%
Raw material 52.0% 54.7% 54.3% 53.1% 57.1%
Employee Cost 4.7% 5.0% 4.7% 4.5% 4.7%
Other Expenditure 18.5% 22.9% 19.9% 20.2% 19.5%
Note Exceptional item is loss due to fire at Beta blue plant in Aug 2016

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 25

P&L Statement (Standalone): Q3 FY18
Figures in Rs Million
Particulars Q3 FY18 Q3 FY17 YoY (%) Q2 FY18 QoQ (%) 9M FY18 9M FY17 YoY (%)
Net sales / income from operations 3,002 2,214 36% 3,364 -11% 9,375 7,688 22%
Excise Duty on Sales - 179 -100% - #DIV/0! 225 526 -57%
Other Operating Income 71 56 26% 71 0% 203 173 17%
Total Income from Operations 3,073 2,450 25% 3,434 -11% 9,803 8,388 17%
Total Expenditure 2,599 2,203 18% 2,885 -10% 8,323 7,411 12%
Consumption of Raw Material 1,786 1,326 35% 2,002 -11% 5,496 4,889 12%
Personnel Cost 155 120 29% 144 8% 419 368 14%
Other Expenditure 657 578 14% 739 -11% 2,184 1,628 34%
Excise Duty - 179 -100% - #DIV/0! 225 526 -57%
EBITDA 474 247 92% 550 -14% 1,479 976 52%
Depreciation & Amortisation 113 97 16% 104 8% 316 289 9%
EBIT 362 149 142% 446 -19% 1,163 687 69%
Interest & Finance Charges 80 90 -11% 75 7% 235 281 -16%
Other Income 7 74 -91% 80 -91% 134 119 13%
PBT before exceptional items 288 133 117% 450 -36% 1,062 525 102%
Exceptional items - - NM 12 NM 12 24 NM
PBT 288 133 117% 438 -34% 1,050 501 109%
Tax Expense 117 45 159% 150 -22% 399 216 85%
PAT (From ordinary activities) 171 88 95% 288 -40% 651 285 128%
Extraordinary items NM NM - - NM
PAT 171 88 95% 288 -40% 651 285 128%
Minority Expense NM NM - - NM
PAT after Minority 171 88 95% 288 -40% 651 285 128%

Key Ratios as a % of Total Net Sales Q3 FY18 Q3 FY17 Q2 FY18 9M FY18 9M FY17
EBITDA 15.8% 11.1% 16.3% 15.8% 12.7%
PAT 5.7% 4.0% 8.6% 6.9% 3.7%
Total Expenditure 86.6% 91.4% 85.8% 86.4% 89.6%
Raw material 59.5% 59.9% 59.5% 58.6% 63.6%
Employee Cost 5.2% 5.4% 4.3% 4.5% 4.8%
Other Expenditure 21.9% 26.1% 22.0% 23.3% 21.2%

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 26

Corporate structure and shareholding pattern

Shareholding Pattern
Corporate Structure
(Dec 31, 2017)

MOL No of shares: 254 mn

Meghmani Finechem Limited*

57%
(Caustic Manufacturing)

100% Meghmani Organics USA INC.

(Distribution) Public &
P T Meghmani Organics Indonesia Others, Promoters,
100%
35.27% 47.67%
(Distribution)
Meghmani Overseas FZE
100%
(Distribution)
Singapore
Depository
Shares, 5.58%
Corporate
FII/DII/FPI,
Bodies, 6.72%
4.76%

* 25% stake in Meghmani Finechem Limited held by IFC

Washington and remaining 18% by individual
promoters

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 27

Disclaimer

This presentation contains statements that contain “forward looking statements” including, but without
limitation, statements relating to the implementation of strategic initiatives, and other statements relating
to MOL’s future business developments and economic performance.

While these forward looking statements indicate our assessment and future expectations concerning the
development of our business, a number of risks, uncertainties and other unknown factors could cause actual
developments and results to differ materially from our expectations.

These factors include, but are not limited to, general market, macro-economic, governmental and regulatory
trends, movements in currency exchange and interest rates, competitive pressures, technological
developments, changes in the financial conditions of third parties dealing with us, legislative developments,
and other key factors that could affect our business and financial performance.

MOL undertakes no obligation to publicly revise any forward looking statements to reflect future / likely
events or circumstances.

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 28

Contact us

For any Investor Relations queries, please contact:

Email: ir@meghmani.com Nitesh Kumar/ Seema Shukla

Phone: +91-79-71761000 Four-S Services Pvt Ltd
Phone: +91-9891570250/+91 98104 08474
Email: nitesh.kumar@four-s.com
seema@four-s.com

Meghmani Organics Limited  Earnings Presentation | Q3 FY18 29