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R RATNAMANI METALS & TUBES LTD . 000 RESILIENT GROWTH Investor Presentation DIVERSIFIED OPPORTUNITIES Q1 2026-27
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2026-27 (Q1) Investor Presentation Disclaimer This presentation and its accompanying slides, prepared by Ratnamani Metals and Tubes Limited (the 'Company'), are intended solely for informational purposes. It does not constitute, or form part of, any offer, solicitation, recommendation, or invitation to subscribe for, underwrite, or purchase any securities of the Company. Nothing contained herein shall form the basis of, or be relied upon in connection with, any contract, commitment, or investment decision. Any offering of securities by the Company, if undertaken, would be made solely through formal offering documents containing detailed disclosures about the Company. The information contained in this Presentation has been compiled from sources that the Company believes to be reliable. However, the Company makes no representation or warranty, whether express or implied, regarding the fairness, accuracy, completeness, or correctness of such information. The Presentation is not comprehensive and may omit material information. Neither the Company nor any of its directors, officers, or employees accepts responsibility or liability for any direct or consequential loss arising from the use of this Presentation or its contents. Certain statements in this Presentation may be forward-looking in nature and are based on management’s current expectations, assumptions, estimates, and projections about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and factors beyond the Company’s control, including but not limited to: domestic and global economic conditions, industry developments, competition, regulatory changes, market demand, pricing fluctuations, raw material availability, technology adoption, and other risks. Actual results, performance, or outcomes may differ materially from those expressed or implied in such statements. The Company undertakes no obligation to revise or publicly release any updates to these forward-looking statements to reflect events, circumstances, or changes in expectations after the date of this Presentation. Any third-party projections or information included herein are provided for reference only and do not represent the Company’s views; the Company assumes no responsibility for such data. All charts, maps, or visuals included in this Presentation are illustrative, not to scale, and are provided ‘as is’ without any warranty as to accuracy or completeness. Heading To Come 2
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2026-27 (Q1) Investor Presentation 1. Q1 2026-27 Performance 2. About Us 3. Annexures Q1 2026-27 Performance
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2026-27 (Q1) Investor Presentation Financial Highlights – Q1 2026-27 (Consolidated) 4 • Q1 profitability at the standalone level was impacted by lower sales volumes and under-absorption of fixed costs, while improved performance of the subsidiaries supported consolidated profitability. Revenue from Operations (₹ in Crores) PAT (₹ in Crores) PBT (₹ in Crores) 175.78 137.41 Q1 2025-26 Q1 2026-27 1,151.62 971.63 Q1 2025-26 Q1 2026-27 218.44 179.7919.0% 18.5% 18.2% 18.4% 18.6% 18.8% 19.0% 19.2% - 50 100 150 200 250 Q1 2025-26 Q1 2026-27 EBITDA (₹ in Crores) EBITDA Margins (in %) 127.13 107.03 Q1 2025-26 Q1 2026-27
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2026-27 (Q1) Investor Presentation 5 • Performance during the period was impacted by subdued demand and lower government spent on infrastructure projects, resulting in under-absorption of fixed costs and pressure on margins. • Company remains debt free on standalone basis • Order book increased to INR 2000+ crores PAT (₹ in Crores) Revenue from Operations (₹ in Crores) PBT (₹ in Crores) Financial Highlights – Q1 2026-27 (Standalone) 1,062.40 740.78 Q1 2025-26 Q1 2026-27 195.34 73.46 Q1 2025-26 Q1 2026-27 226.62 105.18 21.3% 14.2% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% - 50 100 150 200 250 Q1 2025-26 Q1 2026-27 EBITDA (₹ in Crores) EBITDA Margins (in %) 144.96 54.06 Q1 2025-26 Q1 2026-27
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2026-27 (Q1) Investor Presentation Financial Highlights – Q1 2026-27 (Subsidiaries) 6 Ravi Technoforge Private Limited (RTL) Revenue from Operations (₹ in Crores) PAT (₹ in Crores) Ratnamani Finow Spooling Solutions Private Limited (RFSS) Revenue from Operations (₹ in Crores) EBITDA (₹ in Crores) PAT (₹ in Crores) PBT (₹ in Crores) PBT (₹ in Crores) EBITDA (₹ in Crores) 12.60 119.63 Q1 2025-26 Q1 2026-27 -7.49 59.18 Q1 2025-26 Q1 2026-27 77.26 97.35 Q1 2025-26 Q1 2026-27 2.66 3.92 Q1 2025-26 Q1 2026-27 3.85 5.37 Q1 2025-26 Q1 2026-27 -6.20 49.02 Q1 2025-26 Q1 2026-27 -1.97 64.4 Q1 2025-26 Q1 2026-27 9.38 13.0512.1% 13.4% 0.0% 5.0% 10.0% 15.0% - 5 10 15 Q1 2025-26 Q1 2026-27 EBITDA Margins…
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2026-27 (Q1) Investor Presentation Financial Highlights – Q1 FY27 7 Particulars Standalone Consolidated Q1 2026-27 Q1 2025-26 Q1 2026-27 Q1 2025-26 Revenue 740.78 1,062.40 971.63 1,151.62 Other income 25.43 35.02 17.59 30.29 Total Income 766.21 1,097.42 989.22 1,181.91 Cost of material 444.12 650.04 531.80 706.62 Employee benefit expense 72.33 73.35 89.95 86.91 Other expenses 144.58 147.41 187.68 169.94 EBITDA 105.18 226.62 179.79 218.44 EBITDA % 14.2% 21.3% 18.5% 19.0% Depreciation and amortisation exps. 30.41 27.01 36.21 31.67 Finance cost 1.31 4.27 6.17 10.99 Profit before tax 73.46 195.34 137.41 175.78 PBT % 9.9% 18.4% 14.1% 15.3% Tax expense 19.40 50.38 30.38 48.65 Profit after tax 54.06 144.96 107.03 127.13 PAT % 7.3% 13.6% 11.0% 11.0% (₹ in Crores)
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2026-27 (Q1) Investor Presentation CEO’s Message The Company operated in a challenging business environment during the quarter, with lower government spending on infrastructure projects, including the water segment, coupled with the ongoing geopolitical situation in the Middle East impacting demand, project execution, and raw material supplies. Consequently, revenue for the quarter remained lower compared to the corresponding period of the previous year. Despite these headwinds, the Group's diversified business model continued to demonstrate resilience. Subsidiaries Ravi Technoforge (RTL) and Ratnamani Finow Spooling Solutions (RFSS) delivered strong growth in revenue and profitability, providing meaningful support to the consolidated performance. During the quarter, the Company also completed the external coating facility at the Odisha plant and the HSAW manufacturing facility at the Kutch plant, further strengthening its production capabilities for future growth. Exports witnessed encouraging growth, while enquiry levels across key markets continue to improve. Backed by enhanced manufacturing capabilities, a strong order pipeline, and sustained momentum in the subsidiary businesses, the Company remains confident of its long-term growth prospects. Manoj Sanghvi Chief Executive Officer 8
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2026-27 (Q1) Investor Presentation Kutch Projects Status 9 Established a new carbon steel HSAW spiral pipe facility for producing pipes up to 18 metres in length and diameters ranging from 18” to 143”, with a production capacity of 1,00,000 MT Ratnamani Metals & Tubes Limited Plant Location Kutch Category Brownfield Product Projected Timeline Completed (July 2026) Coating plant to supplement the recently commissioned Spiral Welded Pipes Plant. Internal Coating plant was put in operations last year External 3LPE plant has commissioned this quarter with capacity of 25 lakh sq. metres p.a. Ratnamani Metals & Tubes Limited Plant Location Odisha Category Greenfield Product Parent Company Projected Timeline Completed
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2026-27 (Q1) Investor Presentation Kutch 10 Manufacture of High-Speed Hot Forming Facility for manufacturing new product line (Gen 3 hubs and other drivetrain components) for the automobile industry. The high-precision and high-speed machines result in better efficiency. Ravi Technoforge Private Limited Plant Location Rajkot Category Greenfield Product Projected Timeline December 2026 Increase in capacity for spool manufacturing along with advanced equipment. Facility over 52,000 sq. meter increasing the annual capacity from 1400MT to 4000 MT Ratnamani Finow Spooling Solutions Private Limited Plant Location Kutch Category Greenfield Product Manufacturing of Cold-finished Stainless Steel Seamless products. Ratnamani Middle East Company, LLC Plant Location The Kingdom of Saudi Arabia Category Greenfield Product Projected Timeline March 2028 (revised) Subsidiary Companies Projected Timeline December 2026 Projects Status
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2026-27 (Q1) Investor Presentation 1. Q1 2026-27 Performance 2. About Us 3. Annexures About Us
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2026-27 (Q1) Investor Presentation About Us Largest Player of the Stainless Steel Tubes & Pipes (high end applications) in India Wide Product Portfolio with Varied Applications Sustainability and ESG Deeply Ingrained in the Company’s Philosophy AA/Positive CRISIL Rating 3,300+ Employees 4 Manufacturing Facilities with Ongoing Expansions to Support Growth Experienced and Professional Management Team Market Capitalisation of ₹ 17500 Crores as of June 30, 2026 One of the Leading Player for Carbon Steel Welded Pipes in India 40+ Years of Experience 12 Certified as Great Place to work in India based on the Trust Index survey
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2026-27 (Q1) Investor Presentation About Us Our Vision ◊ To attain Global excellence by continuously developing and providing the best quality products and services. ◊ Exceeding expectations of our Customers with innovative products & applications. ◊ Building value for all our stakeholders. ◊ To be a value driven organisation that is a benchmark in Corporate Citizenship. Our Values ◊ Customer Focus ◊ Passion ◊ Innovation ◊ Respect ◊ Integrity ◊ Responsibility ◊ Self-discipline Our Mission To be leading Pipes & Tubes Manufacturing Company in Stainless Steel & Carbon Steel Industry by making difference in our Space through: ◊ Products & Services (providing product range, becoming supplier's choice and creating value to customers) ◊ Practices (Robust processes and systems keeping future in mind) 13
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2026-27 (Q1) Investor Presentation Journey 1983 1985 1993 1995 2005 2008 2009 2013 2015 2021 2023 2025 The Company was established Listed on NSE and BSE Started commercial production at the Kutch Plant Operations commenced at the 3LPE Coating Plant, High-Speed Welded Tube Mill, and Offline Welding Unit in HSAW Started manufacturing of Titanium tubes Coating capacity increased from 100 NPS to 122 NPS Commissioned high wall-thickness, large-diameter CSAW pipes at Kutch Started production of stainless steel welded pipes and seamless tubes as twin small-scale units Carbon Steel SAW Pipe Division commenced commercial production The facility for hot-extruded mother pipes was fully established The new seamless tube facility for Heat Exchanger Tubes started commercial production Enhanced the capacity of Hot Extrusion Commissioned the LSAW plant at Kutch Commissioned the Hot Extrusion plant at Indrad Commissioned manufacturing of instrumentation tubes in coil form at Indrad Commissioned manufacturing of HSAW Pipes at Odisha 14
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2026-27 (Q1) Investor Presentation JV and Acquisition Timelines Ratnamani Finow Spooling Solutions Private Limited Ravi Technoforge Private Limited Ratnamani Middle East Company, LLC 2023 2022 (initial); 2025 (stake increased to 75%) 2025 Manufacturing of Spools Specialised for Nuclear Power Plants Manufacturing of Bearing Rings Manufacturing of Stainless Steel Seamless Products 51% 75% 75% India India The Kingdom of Saudi Arabia (KSA) 15 Ratnamani Inc. Ratnamani Middle East Pipes Trading LLC OPC Ratnamani Trade EU AG 2014 2024 2024 Marketing Office Marketing Office Stock and Sale 100% 100% 100% USA UAE Switzerland with a Warehouse in Germany Ratnamani operates through a well-diversified network of subsidiaries and joint ventures, enabling both scale and reach. Manufacturing Marketing & Sales Stake (%)
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2026-27 (Q1) Investor Presentation Multi-Location Manufacturing Facilities Indrad (Mehsana) Stainless Steel Seamless Works Chhatral (Gandhinagar) Carbon Steel Works Bhimasar (Kutch) Stainless Steel & Carbon Steel Works Sundargarh Carbon Steel Works 4 Manufacturing Facilities 16 Gujarat Odisha
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2026-27 (Q1) Investor Presentation Product Portfolio Wide Range of Product Portfolio 17 Carbon Steel ◊ Carbon Steel Welded (L-SAW, ERW and H-SAW) Pipes ◊ Induction Bends ◊ Structural (Square & Rectangular) Pipes ◊ Coating Solutions ◊ Heat Exchanger Tubes ◊ Integral Low Finned Tubes ◊ Boiler Tubes ◊ Stainless Steel Seamless & Welded Pipes ◊ Heater Pipes Stainless Steel ◊ Hollow Bars ◊ Instrumentation Tubes ◊ Coiled Tubing ◊ Coating Solutions ◊ Square & rectangular Welded Pipes
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2026-27 (Q1) Investor Presentation Product Details Seamless SS+ ◊ Dia: 3 to 273.05 mm (10") ◊ Thickness: 0.5 to 45 mm Welded SS+ ◊ Dia: 4.7 to 2,235 mm (88") ◊ Thickness: 0.5 to 60 mm Welded Titanium ◊ Dia: 15.87 to 31.75 mm ◊ Thickness: 0.5 to 1.6 mm Nickel Alloy: 400, 600, 625, 800, 825 SS: 304, 316, 317, 321, 347, 310S, 410, 439, super-austenitic L/N/LN/H, DSS, SDSS API 5LC pipes Titanium: Grade I & 2 API 5L: Grades A, B, X42, X46...X80 API 2B: As per client requirement ASTM A671/A672/691: Various Grades and Class, as per client requirement SS/Ni/Ti Business Portfolio CS Business Portfolio 30,000 MT – Hot Finish 11,500 MT– Cold Finish 20,000 MT 18 HFW ◊ Dia: 168.3 to 457 mm (6" to 18") ◊ Thickness: 3.2 to 14.27 mm HSAW ◊ Dia: 406.4 to 3,658 mm (16" to 144") ◊ Thickness: 4 to 25.4 mm LSAW ◊ Dia: 406.4 to 1,422 mm (16" to 56") ◊ Thickness: 5 to 50 mm CSAW ◊ Dia: 406.4 to 5,080 mm (16" to 200") ◊ Thickness: 5 to 150 mm 1,00,000 MT 2,00,000 MT 2,30,000 MT For Stainless Steel and Carbon Steel Coating External 3LPE, 3LPP, FBE, DFBE Internal Liquid Epoxy Induction bends New product range introduced: API 5CT 18 Meter long HSAW Pipes
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2026-27 (Q1) Investor Presentation Industries Served 19 At the Core of Every Industry Oil & Gas Exploration Refinery & Petrochemical Food, Dairy & Beverages Chemical & Fertiliser Chillers & Cooling Systems Aerospace Defence CNG & Automotive Pulp & Paper Cross-Country Pipelines for Gas & Water Structural Applications Atomic Energy Thermal Power Solar & Nuclear Power LNG Desalination Pharmaceuticals Sugar Marine Carbon Capture Hydrogen Semiconductors Data Centres
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2026-27 (Q1) Investor Presentation Strengths Ratnamani’s Edge Serving 20+ industries in 28+ countries. Extensive Product Portfolio Multi-location, multi- product plants in Gujarat and Odisha. State-of-the-Art Manufacturing Facilities NABL ISO/IEC 17025, ILAC-accredited laboratories and global certifications. Approvals from the end clients, EPC contractors, and process licensors. Quality at the Core Strong balance sheet, healthy cash flows, robust credit profile, and consistent returns to the shareholders. Financial Health First in India to supply hydrogen-compliant pipes. Building capabilities for new energy and offshore applications. Technological Prowess and Innovation Expanding global reach, enhancing product depth, and driving diversification and forward integration. Strategic Subsidiaries and Joint Ventures 20
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2026-27 (Q1) Investor Presentation Clients Our Marquee Clients 21
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2026-27 (Q1) Investor Presentation Subsidiaries and Joint Ventures Facilities and Capabilities 22 Ravi Technoforge Private Limited (RTL) Ravi Technoforge is a leading manufacturer of high-precision forged and turned bearing rings, gear blanks and auto components, with a portfolio equally divided between automotive and non-automotive sectors such as heavy industrial, railways, agriculture and off highway. It has vintage of more than 20 years with all top bearing manufacturers in the world renowned for quality. RTL is one of the few suppliers from India having global supplies with 40% of portfolio being exports to 15 countries. With a strong presence in India as well, the company continues to scale its operations, supported by strategic expansion initiatives and synergies with Ratnamani's global network. ◊ State of the art facility, capable to handle diverse product range from 40 mm to 400 mm. One stop solution for customer for various applications. ◊ 40,000 MT per annum forging capacity with cold rolling and high precision CNC machines. ◊ Automation-driven processes for high accuracy and consistency. ◊ Inhouse strong R&D and tooling capabilities for customised solutions. ◊ Large range of products offering catering as one-stop solution to customer’s diverse product requirements. ◊ With the view of adding new capabilities and offering new products to customers, the Company has recently completed expansion of its Pipaliya unit to enhance capacity by 20%. This expansion also included mechanisation and automation of various processes to improve efficiency and productivity. ◊ A 9 MW solar power plant is commissioned. 50% of RTL’s energy requirement will be sourced from green energy, benefit is being seen in Q1 FY27. ◊ The credit rating for long term bank facilities is upgraded from CARE A to CARE A+
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2026-27 (Q1) Investor Presentation Subsidiaries and Joint Ventures Facilities and Capabilities 23 Ratnamani Finow Spooling Solutions Private Limited (RFSS) RFSS is a specialised provider of high-integrity pipe spool fabrication and support systems, catering to critical industries such as nuclear & thermal power, and oil & gas. It is a joint venture between Ratnamani Metals & Tubes Limited, one of India’s leading manufacturers of welded and seamless pipes and tubes, and Technoenergy AG, Switzerland, holding entity of FINOW GmbH, Germany, specialising in nuclear spools for over a century. ◊ The company is currently holding an active order book exceeding ₹ 300 Crores (~US$ 32 Million), which we are targeting to execute over the next 9 months, supporting high-profile projects in India and internationally. ◊ The company is currently undertaking a major infrastructure expansion to enhance our capacity from 1,400 MT to 4,000 MT annually. This new capacity will be ready by Q3 of this year with commercial production commencing from Q4. This expansion positions us to handle significantly larger volumes and more complex project scopes going forward. ◊ The bank borrowings are credit rated Crisil AA-
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2026-27 (Q1) Investor Presentation ESG Environment 52 MW Captive Clean Energy Projects Commissioned 29% Total Energy Came from Clean Sources ~100% Key Raw Materials Sourced Sustainably 100% Manufacturing Plants Compliant with ZLD Mechanism 24 Our Company has voluntarily been evaluated by three independent ESG rating agencies, which have assigned us ratings in the ‘Adequate’ category.
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2026-27 (Q1) Investor Presentation Social 34% Reduction in Lost Time Injury Frequency Rate in 2024-25 3,00,000+ People Provided Eye-care through the ‘Drashtirath’ Initiative 100% Employees and Workers Trained on EHS and NGRBC Principles ESG 25
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2026-27 (Q1) Investor Presentation Governance Mr. Prakash M. Sanghvi Chairman and Managing Director Mr. Jayanti M. Sanghvi Joint Managing Director Mr. Shantilal M. Sanghvi Whole-Time Director Mr. Manoj P. Sanghvi Whole-Time Director and Chief Executive Officer Mr. Prashant J. Sanghvi Whole-Time Director Mr. Rajendra S. Shah Independent Director Mr. Sushil Solanki Independent Director Mr. Dhinal A. Shah Independent Director Mr. Rajesh G. Desai Independent Director Ms. Sangeetha Chhajed Independent Director Mr. Vimal Katta Executive Director - Finance and Chief Financial Officer Mr. Anil Maloo Company Secretary and Legal Head ESG 26 Board of Directors Key Managerial Personnel
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2026-27 (Q1) Investor Presentation Kutch CSR EducationEnvironment Healthcare Ratnamani is contributing towards a more equitable and responsible society through impactful CSR initiatives across healthcare, education, clean drinking water, women’s empowerment and digital learning. Company was honoured with the Best Healthcare & Wellness Programme National Award at the India CSR & Sustainability Awards 2025 for its CSR initiative supporting cochlear implant surgeries. ◊ Projects involve pond deepening and biodiversity projects, aiming to improve air quality, prevent soil erosion, and enhance biodiversity. ◊ Conservation of valuable, genetically proven tree species such as Meshak ◊ Educational support includes 150 laptops and smart classrooms for blind students ◊ Laptops for all students from 6th to 12th standard. ◊ CSR initiative included contribution of three state- of-the-art blood apheresis machines to the Indian Red Cross Society, enhancing availability of high- quality blood components for critical medical treatments, including organ transplants and cancer care. 27
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2026-27 (Q1) Investor Presentation 1. Q1 2026-27 Performance 2. About Us 3. Annexures Annexures
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2026-27 (Q1) Investor Presentation 323 512 625 542 534 10.3% 11.4% 12.4% 10.4% 11.9% 0% 2% 4% 6% 8% 10% 12% 14% - 100 200 300 400 500 600 700 FY22 FY23 FY24 FY25 FY26 Profit After Tax (₹ in Crores) PAT % 9 9.33* 14 14 10 467% 600% 700% 700% 500% 0% 100% 200% 300% 400% 500% 600% 700% 800% - 2 4 6 8 10 12 14 16 FY22 FY23 FY24 FY25 FY26 Dividend (in ₹) Dividend % 533 808 970 883 880 17.0% 18.1% 19.2% 17.0% 19.6% 14.0% 15.0% 16.0% 17.0% 18.0% 19.0% 20.0% - 200 400 600 800 1,000 1,200 FY22 FY23 FY24 FY25 FY26 EBITDA (₹ in Crores) EBITDA % to Sales 3,139 4,474 5,059 5,186 4,494 - 1,000 2,000 3,000 4,000 5,000 6,000 FY22 FY23 FY24 FY25 FY26 Revenue from Operations (₹ in Crores) Financial Highlights (Consolidated) Revenue growth from 2020-21 to 2025-26: 14.4% CAGR 29 15.2 20.8 21.2 15.7 13.6 0.00 5.00 10.00 15.00 20.00 25.00 FY22 FY23 FY24 FY25 FY26 Return on Equity (%) * After bonus issue of 1:2 431 694 828 738 706 13.7% 15.5% 16.4% 14.2% 15.7% 8% 10% 12% 14% 16% 18% 20% - 100 200 300 400 500 600 700 800 900 FY22 FY23 FY24 FY25 FY26 Profit Before Tax (₹ in Crores) PBT %
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2026-27 (Q1) Investor Presentation Financial Highlights (Standalone) Revenue growth from 2020-21 to 2025-26: 9.9% CAGR 322 514 609 578 434 10.3% 11.8% 12.7% 11.9% 11.8% 0% 2% 4% 6% 8% 10% 12% 14% - 100 200 300 400 500 600 700 FY22 FY23 FY24 FY25 FY26 Profit After Tax (₹ in Crores) PAT % 431 694 810 778 583 13.7% 15.9% 16.8% 16.0% 15.8% 8% 10% 12% 14% 16% 18% 20% - 100 200 300 400 500 600 700 800 900 FY22 FY23 FY24 FY25 FY26 Profit Before Tax (₹ in Crores) PBT % 30 9 9.33* 14 14 10 467% 600% 700% 700% 500% 0% 100% 200% 300% 400% 500% 600% 700% 800% - 2 4 6 8 10 12 14 16 FY22 FY23 FY24 FY25 FY26 Dividend (in ₹) Dividend % 15.2 20.8 20.6 16.7 11.1 0.00 5.00 10.00 15.00 20.00 25.00 FY22 FY23 FY24 FY25 FY26 Return on Equity (%) 3,139 4,370 4,807 4,876 3,689 - 1,000 2,000 3,000 4,000 5,000 6,000 FY22 FY23 FY24 FY25 FY26 Revenue from Operations (₹ in Crores) * After bonus issue of 1:2 532 793 921 892 715 17.0% 18.2% 19.2% 18.3% 19.4% 14% 15% 16% 17% 18% 19% 20% - 100 200 300 400 500 600 700 800 900 1,000 FY22 FY23 FY24 FY25 FY26 EBITDA (₹ in Crores) EBITDA % to Sales
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2026-27 (Q1) Investor Presentation Profit and Loss Particulars Year ended March 31, 2026 Year ended March 31, 2025 Year ended March 31, 2026 Year ended March 31, 2025 Revenue from Operations 4,493.96 5,186.47 3,689.30 4,876.14 Other Income 121.95 59.62 125.09 83.31 Total Income 4,615.91 5,246.09 3,814.39 4,959.45 Total Expenses 3,909.57 4,508.10 3,231.26 4,181.34 Profit Before Tax 706.34 737.99 583.13 778.11 Total Tax Expense 171.87 196.42 149.17 200.10 Net Profit for the Year 534.47 541.57 433.96 578.01 (₹ in Crores) 31 StandaloneConsolidated
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2026-27 (Q1) Investor Presentation Balance Sheet 32 StandaloneConsolidated(₹ in Crores) StandaloneConsolidated(₹ in Crores) Particulars As at March 31, 2026 As at March 31, 2026 ASSETS Non-current assets Property, Plant and Equipment 1,589.43 1,274.60 Capital Work-in-Progress 302.05 185.20 Goodwill 18.64 - Other Intangible Assets 2.54 1.18 Financial Assets • Investment - 175.84 • Loans 0.09 77.12 • Other Financial Assets 7.45 3.32 Deferred Tax Asset (Net) 2.70 - Other Non-current Assets 58.33 38.19 Total Non-current Assets 1,981.23 1,755.45 Current Assets Inventories 1,274.86 991.51 Financial Assets • Investments 644.32 644.32 • Trade Receivables 1,013.38 826.01 • Cash and Cash Equivalents 73.90 65.54 • Loans 0.58 8.83 • Other Current Financial Assets 279.35 279.41 Current Tax Assets (Net) 0.25 - Other Current Assets 119.73 60.95 Total Current Assets 3,406.37 2,876.57 Total Assets 5,387.60 4,632.02 Particulars As at March 31, 2026 As at March 31, 2026 EQUITY AND LIABILITIES EQUITY Equity Share Capital 14.02 14.02 Other Equity 4,096.61 4,066.66 Equity Attributable to Owners of the Company 4,110.63 4,080.68 Non-Controlling Interest 97.09 - Total Equity 4,207.72 4,080.68 LIABILITIES Non-current Liabilities Financial Liabilities • Borrowings 163.14 - • Lease Liabilities 10.81 10.81 Deferred Tax Liabilities (Net) 88.37 69.98 Other Non-current Liabilities 45.22 41.48 Provisions 3.48 - Total Non-current Liabilities 311.02 122.27 Current Liabilities Financial Liabilities • Borrowings 141.13 - • Lease Liabilities 2.55 2.45 • Trade Payables 340.48 158.59 • Other Current Financial Liabilities 116.08 94.95 Other Current Liabilities 254.77 164.13 Provisions 7.07 6.09 Current Tax Liabilities (Net) 6.78 2.86 Total Current Liabilities 868.86 429.07 Total Liabilities 1,179.88 551.34 Total Equity and Liabilities 5,387.60 4,632.02
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2026-27 (Q1) Investor Presentation Cash Flow (₹ in Crores) Particulars Year ended March 31, 2026 Year ended March 31, 2025 Year ended March 31, 2024 Cash from Operating Activity 936.01 536.22 511.23 Cash from Investing Activity (1,147.64) (397.12) (145.26) Cash from Financing Activity 59.22 (130.18) (192.95) Net Cash Flow (152.41) 8.92 173.02 33 Consolidated (₹ in Crores) Particulars Year ended March 31, 2026 Year ended March 31, 2025 Year ended March 31, 2024 Cash from Operating Activity 976.12 520.99 489.46 Cash from Investing Activity (1,024.89) (345.46) (108.89) Cash from Financing Activity (105.93) (160.09) (208.29) Net Cash Flow (154.70) 15.44 172.28 Standalone
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2026-27 (Q1) Investor Presentation THANK YOU For further information, please contact: ratnamani.com info@ratnamani.com CIN : L70109GJ1983PLC006460 Mr. Anil Maloo Company Secretary and Compliance Officer +91 79 2960 1200/01/02 anil.maloo@ratnamani.com Registered Office: 17, Rajmugat Society, Naranpura Cross Roads, Ahmedabad 380 013, Gujarat, India Phone: +91 79 2741 5504/2747 8700 Fax: +91 79 2960 1210 Email: info@ratnamani.com