Slides
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INVESTOR PRESENTATION Q2 & H1 FY27 Investor Call Date – 3 rd November, 2026 CLEANER PLANET HEALTHIER FAMILIES STRONGER BUSINESS
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Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Pakka Ltd (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 cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks . The Company’s actual results, 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 . 2
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https://youtu.be/tPlRWAb6BAo?si=ytrYpn8IKz8we6GD Please click here for the Video: https://youtu.be/tPlRWAb6BAo?si=ytrYpn8IKz8we6GD 3 Building Forward with Grit
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Q2 Highlights WRAP & CARRY Interleaving paper for Reliance's solar glass facility, India's largest; exports held at 30% of sales . FINANCIAL PERFORMANCE Revenue ₹124.04 Cr, up 64% YoY; EBITDA margin 14.2%, up from 6.1%. Europe pilot trials completed, 500+ tonnes a month already selling ahead of paper machine 4. flexC BASE PROJECT JAGRITI Recovery boiler, power boiler and turbine started up in October; paper machine 4 start - up in December FOOD SERVICE Revenue ₹18.77 Cr, up 19% YoY 4
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Pakka 2.0 STRENGTHEN THE CORE Stabilise Project Jagriti and improve operational efficiency. SCALE ASSET - LIGHT Expand CHUK through partners and wider market reach. COMMERCIALISE HIGHER - VALUE PRODUCTS Scale flexC base and speciality papers through customer adoption. CAPITAL DISCIPLINE & PROFITABLE GROWTH Strengthen cash generation and deliver sustainable returns on capital. 5
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Performance Business
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Q2FY27 Key Financial Performance 75.8 124.0 Q2FY26 Q2FY27 Revenue 4.7 17.6 6.1% 14.2% Q2FY26 Q2FY27 EBITDA & EBITDA Margin (%)* 0.4 4.2 0.5% 3.4% Q2FY26 Q2FY27 Reported PBT & PBT Margin (%) Adjusted PBT & PBT Margins # 0.4 8.9 0.5% 7.2% Q2FY26 Q2FY27 Standalone. *EBITDA excludes other income. #Adjusted PBT is before the one - time loss of ₹4.7 Cr on disposal of property, plant a nd equipment. ( ₹ Cr) 7
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H1FY27 Key Financial Performance 158.1 241.2 H1FY26 H1FY27 Revenue 16.2 33.0 10.3% 13.7% H1FY26 H1FY27 EBITDA & EBITDA Margin (%)* 6.9 13.0 4.4% 5.4% H1FY26 H1FY27 Reported PBT & PBT Margin (%) Adjusted PBT & PBT Margins # 6.9 17.7 4.4% 7.3% H1FY26 H1FY27 Standalone. *EBITDA excludes other income. #Adjusted PBT is before the one - time loss of ₹4.7 Cr on disposal of property, plant a nd equipment. ( ₹ Cr) 8
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EBITDA ( ₹ Cr)* *EBITDA excludes other income 25.90 10.20 15.40 17.60 24.50% 10.00% 13.20% 14.20% Q1FY24 Q4FY26 Q1FY27 Q2FY27 Average EBITDA margin Global specialty paper: ~14% Global food - service packaging: ~15% Peer averages: simple average of the latest full - year consolidated EBITDA margin from company reports. Specialty paper: Ahlstrom , Nordic Paper (FY24), Mondi, UPM Specialty Papers, Sappi (FY Sep - 25). Food - service packaging: Huhtamaki, Graphic Packaging, Pac tiv Evergreen (FY24), FP Corporation (FY Mar - 26), SCG Packaging. Peer EBITDA as reported (underlying or adjusted where given). Pakka EBITDA excludes other income. 9 Towards higher margins: we have done this before Q2 margin is back in line with global peers; our best quarter was well above them. ( ₹ Cr)
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Wrap & Carry
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Q2 Wrap & Carry: Financial Performance 60.06 105.28 Q2FY26 Q2FY27 Revenue 1.46 10.11 2.4% 9.6% Q2FY26 Q2FY27 PBT (INR Cr) & PBT Margin (%)* 7,659 10,722 Q2FY26 Q2FY27 Volumes in Tonnes 11 ( ₹ Cr)
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Wrap & Carry: Key Highlights 12 Interleaving deal with Reliance, India's biggest facility for solar glass New segment Maintaining export percentage of 30% in spite of geopolitical challenges Exports Increase in NSR, Q2 versus Q2 last year. Realisation Better contribution of pulp sale due to innovative dry pulp Pulp
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Food Service
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Q2 Food Service: Financial Performance 15.76 18.77 Q2FY26 Q2FY27 Revenue 14 (1.06) (1.20) Q2FY26 Q2FY27 Reported PBT ( ₹ Cr)
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Food Service: Key Highlights H1 FY27 updates on Food Service STRONGER BRAND VISIBILITY Building consumer recall through targeted marketing and partnerships. EXPANDING DISTRIBUTION Presence across modern trade, e - commerce and institutional channels. Adding new accounts and deepening engagements. GROWING FOOD SERVICE BUSINESS BROADER PRODUCT PORTFOLIO New formats for everyday and on - the - go consumption. H1 Revenue Growth 26 % Y oY New Cities Added 35 new cities vs last year Key Customers Added 6 new customers added compared to last year New Products 10 added 15
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Project Jagriti
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Project Jagriti Update Please Click here for the Video: https://youtu.be/t - LDAAsMyRw
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Project Jagriti Progress Capacity Expansion PULP MILL EXPANSION COMPLETED RECOVERY BOILER STARTED UP Oct ’26, stabilising 15 MW POWER TURBINE STARTED UP Oct ’26, stabilising PAPER MACHINE 4 Start - up Dec ’26 18
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flexC base: Seeding the market ahead of paper machine 4 Pilot trials completed in Europe. Partner reveal at the plant 500+ tonnes a month of equivalent grades already selling That is about 17% of paper machine 4's capacity, already in the market 19
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Commitments
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PROFITABILITY 04 H1 EBITDA margin 13.7%, up from 10.3%; PAT ₹9.1 Cr in H1 FY27 Q2 Commitments: Delivered INNOVATION Material Science Centre set up in Bangalore 05 PROJECT JAGRITI Recovery boiler, power boiler and turbine started up in October; under stabilisation. 01 flexC BASE Pilot trials in Europe completed; partner reveal held. 02 DELIVERY CONTAINERS Moving forward with plant set - up 03 21
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Q3FY27 Commitments flexC base: Launch flexC base to partners and distributors . 02 Project Jagriti: Commission paper machine 4 01 Food Service: Reach profitability in Food Service 03 flexC : Advance development of the non - metallised flexC structure. 04 Innovation: Strengthen the Material Science Centre in Bangalore 05 22
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Q&A 23
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Company Overview
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Pakka at a Glance • Pakka is a sustainable packaging company that transforms agricultural residue, primarily sugarcane bagasse, into high - quality, compostable and recyclable packaging solutions designed to replace conventional single - use plastics. • The company combines integrated manufacturing capabilities, product innovation and sustainability - focused solutions to serve customers across food service, consumer packaging and paper - based packaging markets. Company Overview What is Pakka ? Established in 1981 : over four decades of sustainable packaging Committed to ESG Renewable raw materials, resource efficiency and strong community engagement Integrated Player From agricultural residue to pulp, paper, moulded fibre and finished packaging solutions. 3 Operating Locations Ayodhya plant, Noida office, Bangalore innovation centre. 130 TPD - Pulp capacity 39,600 TPA - Paper capacity 565 Team Members Permanent team as of 31 March 2026. Wide Product Portfolio Wrap & Carry, Food Service and Flexible Packaging. 330+ Customers 200+ in Wrap & Carry and 132 in Food Service, FY26. 33 Countries Where our products are sold; 25% of FY26 revenue from outside India. Global Standards Certified for quality, food safety, compostability and sustainability. 25 14.5 TPD - Compostable tableware capacity 8.5 MW - Biomass - based power capacity 140 TPD - Chemical recovery capacity
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What Pakka Does: Our Business Verticals BUSINESS OVERVIEW FIBRE - BASED RAW MATERIALS Agricultural residue and bagasse - based inputs. MANUFACTURING & CONVERSION Paper, pulping, coating and value addition. PACKAGING APPLICATIONS Food service, carry, flexible, rigid and other packaging solutions. Wrap & Carry Food Service Flexible Packaging • Paper - based packaging for carry and retail applications. • Wide product range across consumer and institutional use. • Leverages existing manufacturing strength. • Compostable foodservice and takeaway products. • Supplies across B2B, B2C and modern trade channels. • Expanding product portfolio and customer base • Fibre - based flexible packaging material. • Under development and customer trials. • Target applications include snacks, confectionery, sachets, tea and more. Our Business Verticals 26
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Wrap & Carry Business Product Portfolio Bleached Paper • High brightness and clean finish. • Used for premium packaging applications. Pakka’s paper products serve multiple end - use applications across consumer and institutional markets, including: Revenue Performance Wide application base Supplies paper for carry, retail, food and other packaging requirements. 82 % of FY26 segment revenue from Wrap & Carry. ₹ 292.83 crore Wrap & Carry revenue in FY26 Core business Business at a Glance Three paper product categories cater to diverse packaging requirements. Unbleached Paper • Natural brown appearance. • Widely used for carry bags, wraps and retail packaging. Coloured Paper • Available in a range of colours. • Used for differentiated and customised packaging solutions . Key Applications Carry bags and retail packaging. Food wrapping and food packaging. Consumer goods packaging (FMCG). E - commerce packaging. Industrial and speciality packaging. Other paper - based packaging applications. 292.83 351.35 350.12 FY 26 FY 25 FY 24 27
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Meal trays, clamshells, multi - compartment boxes and tamper - proof packs for takeaway and delivery. Food Service What is CHUK? CHUK is Pakka’s consumer - facing brand for bagasse - based foodservice packaging, offering a wide range of compostable, high - performance products for dine - in, takeaway and food delivery. Tableware Plates, bowls, trays Delivery Containers Drinkware Cups, sipper lids and cold beverage solutions for hot and cold beverages. Ancillarie s • Quick - service restaurants (QSRs) • Restaurants and cafés • Food delivery and aggregators • Catering and events • Cloud kitchens • Modern trade and retail • E - commerce and quick commerce Financial Year CHUK Business Revenue FY24 ₹54.63 Cr FY25 ₹54.69 Cr FY26 ₹62.97 Cr Certifications & Product Assurance Revenue Performance Our Product Portfolio Cutlery, straws, dip cups, combo packs and other accessories Serving a Wide Range of Customers and Occasions 28
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Flexible Packaging What is flexC ? A fibre - based flexible packaging material designed to deliver performance while reducing dependence on conventional plastic packaging. Key Applications flexC is Pakka’s next - generation flexible packaging material, developed from fibre to offer a sustainable alternative to conventional plastic packaging. Designed for a wide range of consumer packaging formats, including: Snacks Confectionery Sachets Tea and other applications • Expands Addressable Markets: Enables Pakka to enter high - growth flexible packaging segments. • Supports Sustainability: Supports the transition towards sustainable, fibre - based packaging solutions. • Leverages Existing Capabilities: Complements Pakka’s existing pulp and paper capabilities. • Product development in advanced stages. • Customer trials underway. • Moving towards commercialisation. From Development to Commercialisation - The development journey involves four key stages: Concept & R&D: Development of fibre - based flexible packaging material. Product Development: Material optimisation and testing. Customer Trials: Trials with target applications and customers. Commercialisation: Scaling up for market launch. Strategic Importance Current Status 29
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flexC base – Product Development INITIAL APPLICATION AREAS Seed / medical packaging Release liners Labels Heat - sealable bags Tea / sugar sachets Food & confectionery pouches 01 02 03 04 05 06 Expands Addressable Markets: Enables Pakka to enter high - growth flexible packaging segments. WHAT PM4 MAKES PILOT TRIALS SAMPLES AND PARTNER LAUNCHES TARGET APPLICATION Enables in - house manufacturing of specialised flexC base paper at scale 30
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Pakka | A Journey of Growth & Innovation Phase 5: Next - Generation Packaging Platform | 2024 – 2026 the next phase of growth through Project Jagriti. Continued developing next - generation packaging capabilities in 2024 and advanced plans in 2025 to expand compostable flexible packaging and moulded fibre products through Project Jagriti in Ayodhya. From a kraft paper manufacturer to a diversified, sustainable packaging platform Phase 1: Foundation & Manufacturing Scale | 1981 – 1995 Established the core paper business and built manufacturing self - reliance. Founded as Yash Papers in 1981 with 1,940 - tonne capacity, listed on BSE in 1993 Phase 1 Phase 2 Phase 2: Global Reach & Specialty Paper Innovation | 1998 – 2005 Expanded applications, customer reach and circular manufacturing capabilities. Entered global markets in 1998, diversified into specialty - grade papers in 2003, serving customers including McDonald’s and Café Coffee Day, and achieved 95% chemical recovery by 2005. Phase 3: Sustainable Packaging Innovation | 2014 – 2018 Moved beyond conventional paper into moulded fibre and food - service packaging. Explored new packaging applications in 2014, launched CHUK in 2017 and earned B Corp certification and international design recognition in 2018. Phase 3 Phase 4 Phase 5 Phase 4: Brand Transformation & Global Ambition | 2019 – 2023 Repositioned the company for a broader sustainable packaging opportunity. Rebranded as Yash Pakka in 2019 and adopted the name Pakka in 2023, when it also listed on NSE and announced a Guatemala partnership for compostable flexible packaging and moulded fibre products. 31
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Investing In Right People, Capabilities and Execution EXECUTION EXCELLENCE INNOVATION & R&D Strengthening the Material Science Centre and product development. Embedding accountability and a performance mindset. BUILDING A STRONGER Future - Ready Organisation Building depth and domain expertise. TALENT DEVELOPMENT PURPOSE - DRIVEN CULTURE Enabling a sustainable and inclusive workplace 32
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Our Way Forward Commission and Stabilise Project Jagriti • Complete commissioning and stabilise operations. • Unlock expanded manufacturing capacity to support the next phase of growth. Ramp Up Capacity Utilisation • Progressively increase capacity utilisation • Drive revenue growth and improve operating leverage. Expand the Speciality Paper Portfolio • Develop differentiated, food - grade and speciality paper products. • Improve realisations and strengthen margins. Scale the Sustainable Tableware Business (CHUK) • Expand CHUK through a broader product portfolio. • Strengthen brand presence, widen distribution and deepen market penetration. Expand Outsourcing and Market Reach • Increase outsourced volumes and strengthen distribution. • Expand access to customers and markets across domestic and international geographies, while maintaining capital discipline. Drive Cost Optimisation and Operational Efficiency • Improve manufacturing productivity and procurement effectiveness. • Enhance resource utilisation to strengthen profitability and cash generation 33
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Our Clients 330+ Customers Customer Reach Serving leading global and domestic brands 33 Countries 34
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Operating Locations & Capacity Resource Availability Proximity to agricultural sugarcane - growing regions supports the availability of bagasse for pulp production. Integrated Operations Pulp, paper and compostable tableware manufacturing at one site supports operational integration and efficiency. Innovation Close to Talent The Bangalore Material Science Centre develops new materials and products for all three businesses. Integrated Manufacturing Facility 8.5 MW - Biomass - based power capacity Ayodhya, Uttar Pradesh, India Existing installed capacity as of 31 March 2026: 130 TPD - Pulp capacity 39,600 TPA - Packaging paper capacity 14.5 TPD - Compostable tableware capacity (CHUK) • Noida, Uttar Pradesh: corporate office. • Bangalore, Karnataka: Material Science Centre for innovation and product development. Other Operating Locations Key Advantages of Our Footprint Strategic Connectivity The manufacturing base supports distribution across domestic and export markets. 35
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Board of Directors Pradeep Vasant Dhobale Chairman and Independent Director Ved Krishna Managing Director Gautam Ghosh Executive Director Manjula Jhunjhunwala Director, Promoter Kimberly Ann McArthur Director, Promoters’ Group Himanshu Kapoor Non - Executive Director Dinika Bhatia Independent Director Basant Kumar Khaitan Independent Director Alok Ranjan Independent Director Anna Kay Warrington Independent Director Rahul Krantikumar Dharmadhikary Independent Director 36
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Experienced Leadership Team Ved Krishna Group Lead Driving innovation and growth through regenerative solutions. Sarita Upadhyay Foundation Head Driving social impact through education and community development Mayank Jindal Manufacturing Business Head 35+ years of manufacturing and industry expertise Vibha Yadav People & Culture Head Fostering collaboration and people - centric workplace culture Manoj Maurya Finance Head Ensuring operational efficiency through structured execution Shubham Tibrewal Business Head, Food Service Combining financial expertise with sustainable product innovation Gautam Ghosh Corporate Affairs Head Strengthening stakeholder relationships through effective coordination Pranay Pasricha Brand and Marketing Head Building brands through creativity and consumer understanding 37
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ESG ENVIRONMENTAL Resource Efficiency for a Circular Future • Renewable Raw Materials: Utilisation of renewable agricultural residues, including bagasse. • Sustainable Packaging: Fibre - based and home - compostable packaging solutions. • Water Conservation: Water recycling and responsible water management. • Resource Efficiency: Responsible resource utilisation and waste management. SOCIAL Empowering People and Strengthening Communities • Education and Skill Development: Supporting learning, skill enhancement and employability. • Healthcare and Well - being: Promoting access to healthcare and community well - being. • Community Development: Supporting rural development and inclusive growth. • Women’s Empowerment: Enabling livelihood opportunities and greater economic participation. GOVERNANCE Strong Ethics, Transparency and Responsible Growth • Ethical Business Conduct: Commitment to responsible business practices. • Regulatory Compliance: Adherence to applicable laws and regulations. • Responsible Oversight: Board - level governance and CSR Committee oversight. • Sustainability Integration: Incorporating environmental and social considerations into business practices. 38
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CSR Initiatives | Creating Impact Through Education, Employment and Ecology • 280+ students enrolled through education initiatives. • 67% of students transitioned into formal schooling. • Focus on early childhood learning, self - awareness, life skills and holistic development. • 226+ youth trained through skill development initiatives. • 62.3% income improvement post - skilling. • ₹15,000+ average salaries reported. • Focus on vocational training, women - led livelihoods and sustainable income generation. • 10,000 community members engaged in waste management, segregation and sustainability initiatives. • 21 tonnes of dry and wet waste managed per month. • Focus on water conservation, pond rejuvenation, waste segregation, recycling and circular economy practices. Education Employment & Livelihoods Ecology Pakka’s Impact Model Education Skilling Livelihoods Sustainable communities Business growth 39
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Certifications, Licenses and Awards Awards & Recognition Excellence in Sustainability Award – 2024 Recognised for excellence in sustainable packaging at the 14th Annual Packaging Excellence Awards (2024). Key Certifications, Licenses and Awards FSC® Certified Responsible sourcing and sustainable packaging solutions. ISO 9001:2015 Certified Quality Management Systems. ISO 14001:2015 Certified Environmental Management Systems. Food Safety Certifications For compostable tableware products . Plastic Neutral Certification Commitment towards a greener planet. 40
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Industry Overview
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Industry Opportunity: The Shift Towards Sustainable Packaging Global sustainable Food Packaging Industry A large, resilient industry driven by diverse end - use applications. Growth: 7.9% CAGR (Global, FY25 – 30) • Regulatory Restrictions: Restrictions on single - use plastics . • Government Initiatives: Promotion of sustainable and compostable alternatives. • EPR and Recycling Targets: Driving corporate action. • Growing Consumer and Brand Preference: Increasing preference for sustainable packaging. India’s consumer packaging market Is projected to reach - USD 68.6 Billion (Indian, by FY30) • E - commerce and organised retail • Food and beverage packaging • Hygiene and consumer goods • Industrial and speciality applications Regulatory and Sustainability Tailwinds Key Demand Drivers • Shift from single - use plastics • Stricter environmental regulations • Rising consumer awareness • Commitments from global brands and retailers Key Demand Drivers (Source: Economic Times, Grandview research) 42
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The opportunity for Pakka Growth Drivers Create a Strong Addressable Opportunity for Pakka Expanding Demand for Fibre - based Packaging Growth in e - commerce, food and beverage, and organised retail is supporting higher paper and paperboard consumption. Acceleration of Sustainable Packaging Rising adoption of compostable and plastic - alternative solutions is creating a large market for CHUK and other sustainable products. Regulatory Support Leading brands and retailers setting sustainability goals are creating long - term demand visibility. Pakka’s Positioning in This Opportunity Integrated Manufacturing Base Backward integration from fibre to finished products enables greater control over quality, cost and sustainability. Diversified Product Portfolio Established paper and pulp businesses, complemented by compostable packaging (CHUK) and other high - value, speciality fibre - based solutions. Expansion Through Project Jagriti Capacity expansion and operational enhancements to serve growing demand and strengthen competitiveness. Strong Alignment with Megatrends Well positioned to benefit from the global shift towards sustainable, circular and low - carbon packaging solutions. Increased restrictions on single - use plastics and supportive policies are driving the shift towards fibre - based and compostable packaging. Global Customer Commitments 43
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Quarterly Financial Trends
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Q2 & H1FY27 – Standalone Profit & Loss Statement *EBITDA is excluding of other income; # Exceptional Items comprise loss of Rs.4.7 crores on disposal of property, plant and equipment, during the quarter representin g t he difference between carrying amount and net disposal proceeds . 45 Particulars Q2 - FY27 Q2 - FY26 Y - o - Y H1 - FY27 H1 - FY26 Y - o - Y Revenue from Operations 124.0 75.8 63.6% 241.2 158.1 52.6% Raw Material 57.1 38.8 112.1 74.3 Gross Profit 66.9 37.0 80.9% 129.1 83.7 54.2% Gross Profit Margin 53.9% 48.8% 53.5% 53.0% Employee Cost 11.1 4.5 21.6 15.5 Power & Fuel 16.6 12.5 32.5 21.4 Other Expenses 21.6 15.3 42.0 30.6 EBITDA* 17.6 4.7 278.2% 33.0 16.2 103.3% EBITDA Margin 14.2% 6.1% 13.7% 10.3% Other Income 2.1 2.6 4.6 4.6 Depreciation 4.2 4.1 8.4 8.3 EBIT 15.6 3.1 405.4% 29.2 12.6 132.2% EBIT Margin 12.6% 4.1% 12.1% 8.0% Finance Cost 6.7 2.7 11.5 5.6 Profit before Exceptional Item Gain / (Loss) 8 .9 0.4 17.7 6.9 Exceptional Item Gain / (Loss) # (4.7) 0.0 (4.7) 0.0 Profit before Tax 4.2 0.4 970.1% 13.0 6.9 87.6% Profit before Tax Margin 3.4% 0.5% 5.4% 4.4% Tax 1.4 0.1 3.9 1.8 PAT 2.9 0.3 847.0% 9.1 5.2 77.2% PAT Margin % 2.3% 0.4% 3.8% 3.3% EPS 0.6 0.1 2.0 1.2
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Particulars Sep - 26 Mar - 26 ASSETS Non - current assets Property, plant and equipment 195.4 204.9 Capital work - in - progress 734.4 554.7 Right of Use Assets 0.9 1.1 Goodwill 0.0 0.0 Other intangible assets 0.1 0.1 Intangible assets under development 6.8 5.5 Financial assets ( i ) Investments in Subsidiaries 70.6 70.6 (ii) Investments 0.0 0.0 (iii) Loans 11.4 11.8 (iv) Other Financial Assets 19.1 0.1 Income tax Assets(net) 0.8 0.7 Other non current assets 18.5 35.9 Total non current assets 1057.9 885.4 Current Assets Inventories 103.4 145.6 Financial assets ( i ) Investments 0.0 0.0 (ii) Trade receivables 59.2 48.9 (iii) Cash and cash equivalents 1.2 17.9 (iv) Bank balances other than (iii) above 11.4 4.2 (v) Loans 0.8 0.4 (vi) Other financial assets 2.5 1.7 Other current assets 59.7 48.1 Current Tax Assets (Net) Total current assets 238.1 266.7 TOTAL ASSETS 1296.0 1152.1 Particulars Sep - 26 Mar - 26 EQUITY AND LIABILITIES Equity Equity share capital 47.7 44.9 Money received against share warrant 21.2 24.5 Other equity 496.7 437.0 Total Equity 565.5 506.4 Liabilities Non current liabilities Financial liabilities ( i ) Borrowings 448.8 307.9 (ii) Lease liabilities 0.6 0.8 (iii) Other financial liabilities 41.9 59.8 Deferred tax liabilities (net) 23.2 19.4 Other non current liabilities 61.1 51.6 Provisions 1.3 1.7 Total non current liabilities 577.0 441.2 Current liabilities Financial liabilities ( i ) Borrowings 90.6 149.2 (ii) Lease liabilities 0.4 0.3 (iii) Trade payables 14.4 39.7 (iv) Other Financial Liabilities 25.8 0.3 Other current liabilities 21.7 14.4 Provisions 0.6 0.6 Current Tax liabilities (Net) 0.0 0.0 Total current liabilities 153.5 204.5 Total liabilities 730.5 645.7 TOTAL EQUITY and LIABILITIES 1296.0 1152.1 Standalone Balance Sheet 46
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Particulars H1FY27 H1FY26 Net Profit Before Tax* 17.7 6.9 Cash generated from Operations 60.7 45.7 Direct taxes paid (net of refund) (0.1) (5.6) Net Cash from Operating Activities 60.6 40.0 Net Cash from Investing Activities (204.7) (174.3) Net Cash from Financing Activities 127.4 88.6 Net Increase / (Decrease) in Cash and Cash equivalents (16.7) (45.7) Add: Cash & Cash equivalents at the beginning of the period 17.9 65.2 Cash & Cash equivalents at the end of the period 1.2 19.5 Standalone Cash flow Statement 47 *Sep - 26 figure is before the one - time exceptional item of ₹4. 7 Cr; reported H1 FY27 PBT is ₹13.0 Cr.
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404.7 406.0 355.8 241.2 FY24 FY25 FY26 H1FY27 53.1 23.28 73.73 60.61 FY24 FY25 FY26 H1FY27 Business model that generates positive cash flow from operations, even in high expansion and growth phase Net Cash from Operating Activities ( ₹ Cr) Revenue ( ₹ Cr) Strengthening Cash Flow Generation 48
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Historical Financial Trends
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Key Financial Performance 405 406 356 FY24 FY25 FY26 86 76 42 21.1% 18.8% 11.8% FY24 FY25 FY26 12.57 13.53 4.04 FY24 FY25 FY26 49 57 18 12.0% 14.0% 5.1% FY24 FY25 FY26 Total Revenue (INR Cr) EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) Earnings Per Share (INR) 50 ( ₹ Cr)
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Standalone Profit & Loss Statement *EBITDA is excluding of other income 51 Particulars FY26 FY25 FY24 Revenue from Operations 355.8 406.0 404.7 R aw Material 160.9 167.4 148.9 Gross Profit 194.9 238.7 255.8 Gross Profit Margins 54.8% 58.8% 63.2% Employee Benefits expenses 38.4 45.2 44.6 Power and Fuel 51.0 52.6 68.6 Other expenses 63.4 64.6 57.1 Total Operating Expenses 152.3 162.5 170.2 EBITDA* 42.1 76.2 85.6 EBITDA Margins 11.8% 18.8% 21.1% Other Income 11.0 17.1 10.0 Depreciation 16.5 15.9 14.0 EBIT 36.6 77.5 81.6 EBIT Margins 10.3% 19.1% 20.2% Finance Cost 11.4 10.3 9.0 PBT 25.2 67.2 72.6 Tax Expense 7.1 10.5 24.0 PAT 18.1 56.7 48.7 PAT Margins 5.1% 14.0% 12.0%
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Standalone Balance Sheet 52 Particulars Mar - 26 Mar - 25 Mar - 24 ASSETS Non - current assets Property, plant and equipment 204.9 206.0 196.6 Capital work - in - progress 554.7 140.2 34.7 Right of Use Assets 1.1 1.5 0.4 Other intangible assets 0.1 0.3 0.5 Intangible assets under development 5.5 3.1 0.1 Financial assets (i) Investments in Subsidiaries 70.6 22.6 5.8 (ii) Investments 0 - - (iii) Loans 11.8 40.9 28.1 (iv) Other Financial Assets 0.1 - - Income tax Assets(net) 0.7 - - Other non current assets 35.9 67.9 14.3 Total non current assets 885.4 482.5 280.4 Current Assets Inventories 145.6 132.0 111.1 Financial assets (i) Investments 0.0 0.0 1.2 (ii) Trade receivables 48.9 44.9 40.0 (iii) Cash and cash equivalents 17.9 65.2 53.5 (iv) Bank balances other than (iii) above 4.2 6.9 14.9 (v) Loans 0.4 1.5 1.3 (vi) Other financial assets 1.7 2.7 1.5 Other current assets 48.1 32.3 13.5 Current Tax Assets (Net) Total current assets 266.7 285.4 237.1 TOTAL ASSETS 1152.1 767.9 517.5 Particulars Mar - 26 Mar - 25 Mar - 24 EQUITY AND LIABILITIES Equity Equity share capital 44.9 44.9 39.2 Money received against share warrant 24.5 24.5 0.0 Other equity 437 418.5 225.5 Total Equity 506.4 487.9 264.7 Liabilities Non current liabilities Financial liabilities ( i ) Borrowings 307.9 90.4 109.6 (ii) Lease liabilities 0.8 1.1 0.1 (iii) Other financial liabilities 59.8 18.8 4.3 Deferred tax liabilities (net) 19.4 20.7 24.4 Other non current liabilities 51.6 2.2 2.2 Provisions 1.7 1.5 0.1 Total non current liabilities 441.2 134.8 140.6 Current liabilities Financial liabilities ( i ) Borrowings 149.2 111.7 72.1 (ii) Lease liabilities 0.3 0.4 0.3 (iii) Trade payables 39.7 13.8 12.4 (iv) Other Financial Liabilities 0.3 0.4 0.2 Other current liabilities 14.4 16.3 15.0 Provisions 0.6 0.6 7.1 Current Tax liabilities (Net) 0 1.9 5.2 Total current liabilities 204.5 145.2 112.4 Total liabilities 645.7 280.0 252.9 TOTAL EQUITY and LIABILITIES 1152.1 767.9 517.6
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Standalone Cash flow Statement 53 Particulars FY26 FY25 FY24 Net Profit Before Tax 25.2 67.2 72.6 Cash generated from Operations 84.8 40.6 72.3 Direct taxes paid (net of refund) (11.1) (17.3) (19.2) Net Cash from Operating Activities 73.7 23.3 53.1 Net Cash from Investing Activities (366.2) (191.4) (74.8) Net Cash from Financing Activities 245.2 179.7 74.4 Net Increase / (Decrease) in Cash and Cash equivalents (47.3) 11.6 52.8 Add: Cash & Cash equivalents at the beginning of the period 65.2 53.5 0.8 Cash & Cash equivalents at the end of the period 17.9 65.2 53.5
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THANK YOU 5 4 PAKKA Limited Mr. Sachin Kumar Srivastava sachin.srivastava@pakka.com Mr. Vatsal Shah vatsal.shah@adfactorspr.com Investor Relations Advisors: Adfactors PR Pvt. Ltd. Ms. Kareena Jain kareena.jain@adfactorspr.com For further information, please contact: