Slides
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43rd Annual General Meeting 21st September, 2026
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1 2 3 4 5 Company Overview and Strengths Key Updates Financial Snapshots Growth Opportunity & Strategy Awards & Corporate Social Responsibility INDEX
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Aarti Industries at a Glance Speciality Chemicals Strategic Partnerships Feedstock Assurance and Supply Technology Sharing Joint Product Development Manufacturing Outsourcing Benzene based Downstream Products Toluene based Downstream Products Sulphuric Acid Products Other Speciality Chemicals Established by first generation technocrats in 1984 Integrated operations and high-cost optimization Key value chains include Nitro Chloro Benzenes, Di-Chlorobenzenes, Phenylenediamines, Nitro Toluene Value Chain and Sulphuric Acid & downstream Strong R&D capabilities with IPRs for customized products Strategically located: In western India with proximity to ports 100+ Products 1,100+ Domestic & Global Customers 60 Exporting Countries 16 Manufacturing Plants 11 Zero Liquid Discharge Plants 5 Co-generation Power Plants 4 State-of-the art R&D Centers (incl 2 pilot plants) 5800+ Employees
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4 Our Ethos CARE INTEGRITY EXCELLENCE PURPOSE Right Chemistry for a Brighter Tomorrow VISION To emerge as a Global Partner of Choice for leading consumers of speciality chemicals and intermediates MISSION Delighted Stakeholders AIL VALUES
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Polymers & Additives Textiles and Fabrics Paints Medicines Air Fresheners Agrochemicals Oil Refineries Industries Served Well Diversified Across Various Regions Region Wise Revenue Key Customers 5
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1 2 3 4 5 Company Overview and Strengths Key Updates Financial Snapshots Growth Opportunity & Strategy Awards & Corporate Social Responsibility INDEX
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7 FY26: A Roller-Coaster year FY26 Revenue: ₹9018 Cr 12% EBITDA:₹1172 Cr 15% FY25 Revenue:₹8046 Cr EBITDA:₹1016 Cr 1st Apr 25 Executed 15 Year Backward Integration Contract US Tariff Announcement Apr 25 Part Suspension to India for US Tariff Apr 25 India EU FTA announcement Dec 25 US Imposed India Penalty Tariff @50%Jul / Aug 25 Executed $150mn Supply Contract with Global agro major Mar 26Mar 26 India / Pakistan Conflict May 25 China Reversal of Incentives / Anti-involution Jan 26 US India Trade deal Announcement Feb 25 West Asia Conflict Mar 26 31st March 2026
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8 Sustainability ● EcoVadis| Got elevated to Platinum Rating in June 2026 | Top 1% of global chemical companies ● DJSI | Achieved a 2025 CSA score of 78 (last year 62) | Top 2% (500+ global chemical companies) ● AIL featured in the S&P Global Sustainability Yearbook 2026 ● Renewable energy contributed over 21% to our total power purchased; Excepted to reach to 70% by end of FY27 ● Over 95% of hazardous waste was recovered, recycled and co-processed Volume Growth ● MMA capacity increased from 200 to 290 kTPA in FY26 and further scaled up to 360 kTPA in Q1FY27 ● Higher asset utilization across DCB, NCB and NT value chains indicating volume recovery driven by recovering demand in agrochemicals, pharmaceuticals and polymers end uses Partnerships ● Augene JV and Re Aarti JV under execution and expected to commission in FY27 ● Signed 2 additional long term contracts in Q4 in line with our long term growth strategy Cost savings ● Successful cost savings drive completed across all value chains generating ideas on product yield, energy efficiency of the manufacturing process through the use of digital and advanced analytics and best in class engineering solutions with 70% of the ideas implemented and generating value Engagement ● Won Gallup Exceptional Workplace Award as part of consistent efforts towards Employee engagement; demonstrates consistent strengthening of employee experience and culture Key Updates
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9 Fuel Additive capacity at full utilisation towards the end of year; Further expanded it to 360kT in Q1FY27 DCB volumes increase supported by PDCB and downstream demand; Further debottlenecking to 140kT underway NT and Ethylation capacity utilization driven by MEA, DEA demand; Expected to improve in CY26 with DEA downstream integration investment (PEDA) and increasing demand outlook for MEA PDA capacity utilization impacted on account of US Tariffs and competition from China; expected to remain under pressure Capacities and utilization trend for few major products Product Groups Capacity (in KTPA) FY22 FY23 FY24 FY25 FY26 Y-o-Y FY26 Utilization% NCB 108 76.6 77.8 73.5 85.3 92.7 9% 86% DCB 120 74.6 84.2 80.7 88.6 96.5 9% 80% Hydrogenation 60 35.7 37.2 39.1 44.4 50.8 14% 85% PDA 12 6.5 4.2 4.4 3.9 6.6 69% 55% NT 45 16.0 23.9 30.5 29.4 37.0 26% 82% Ethylation 25-30 7.2 11.9 10.5 14.5 20.5 41% 82% MMA / Fuel Additives 290+ 23.1 37.8 89.3 123 237.6 93% 86%
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10 Revenues by End-use Agrochemicals & Fertilizers Dyes, Pigments and Printing Inks Energy Pharma Polymer and Additives Others ₹ Cr Q2FY26 8046 Q1FY26 Q3FY26 Agrochemicals application showing steady volume growth; margins continue to remain under pressure. Dyes, Pigment & Printing Inks applications operating at steady levels. Higher volumes in energy application driven by favorable blending economics, expanded capacities; Volume increase across US and EMEA regions. Polymer & Additives witnessing good demand and volumes especially for China EV markets; US volumes recovery underway. 9% 18% 12% 36% 10% 15% 18% 15% 36% 12% 14% 5% 19% 11% 43% 10% 12% 5% 12% 11% 51% 9% 14% 3% 19% 10% 42% 10% 14% 5% 18% 11% 43% 10% 14% 4% 1867 2250 2492 2422 9018 Q4FY26 FY26FY25 Pharma volumes operating at steady levels and expected to improve going forward.
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11 JV Updates DCA downstream JV with Superform Project progressing well as planned. Tailwinds in one of the end applications being witnessed; may support quicker capacity utilization Chemical Recycling of plastics Engaging with potential pyrolysis oil customers Delivery of critical equipments underway; on ground execution in full swing All regulatory approvals in place Expected to commission in FY27 Expected commissioning in H1FY27
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12 New Contracts Exclusive Backward integration: Deepening Long term Partnership with Leading Global Chemical Company In March 2026, AIL entered into material amendment to its existing exclusive long term supply contract. As a part of extended scope, AIL will undertake a backward integration project to manufacture a significant part of feedstock, which is currently supplied by the customer. Thus transitioning to an highly integrated end to end manufacturing model. US$ 150mn Medium Term Supply Contract with Global Major Product part of existing AIL Value chain and has application into crop protection formulations. In March 2026, AIL entered into multi year supply agreement with top global agrochemicals innovator till March 2030. AIL has adequate capacities and the contract will support higher capacity utilisation without significant capex. Volume growth to be progressively visible from FY27. This integration brings in Opex and Freight optimisation, improved supply chain resilience, etc. This amendment to positively enhance the EBITDA over the residual period of 15 years under the original agreement. AIL to invest about ₹200–250 crore over next two years for this upstream integration.
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1 2 3 4 5 Company Overview and Strengths Key Updates Financial Snapshots Growth Opportunity & Strategy Awards & Corporate Social Responsibility INDEX
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Volumes grew of over 30% in FY26, with substantial growth in exports volumes. Continued margin pressure due to competitive landscape resulted in muted EBITDA growth. In FY26, multiple favourable ruling for various IT appeals resulted in exceptional income of ₹29 crore, while the new labour code impact and exceptional one-off write-off resulted into exceptional expense of ₹22 crore. West Asia conflict towards the end of FY26, resulted in significant increase in RM prices. As a result, the working capital and debt levels rose significantly. Zone IV project execution underway, expected to commission in FY27. Most other key projects commercialised. Concluded over ~₹100 crore of fixed and variable cost improvements during the year; benefits to accrue as volumes grows. 14 Key Performance Indicators (Consolidated) Gross Income PAT Net Fixed Assets Capex Spends Debt to Equity Ratio All value are ₹ In Crs, except Debt to Equity Ratio EBITDA
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1 2 3 4 5 Company Overview and Strengths Key Updates Financial Snapshots Growth Opportunity & Strategy Awards & Corporate Social Responsibility INDEX
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16 Key EBITDA Growth Drivers: Near Term (FY26-28) Cost Optimisation ₹ 150-200 crore Volume and margin ramp-up ₹ 350-550 crore CAPEX-led growth ₹ 300-450 crore Switching to Back Pressure Turbine to improve Cogen Renewable Power phase 2 Waste energy streams utilization, ETP cost optimisation Fixed cost optimization Yield improvement Acid, DCB & NCB value chain ramp-up Ethylation & NT volume ramp-up, downstream integration for select Ethylation product MMA capacity and volume ramp-up Fluorination and Speciality Chemicals ramp-up Pilot commissioned to fuel New Product Development MPP commissioning and ramp up Zone 4 commissioning and ramp up Augene & Re Aarti JV commissioning and ramp up Digital and Advanced Analytics led cost excellence initiatives Majorly Completed On Track as planned All projects to commission in FY27
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17 Long Term Growth Focus Areas New Growth Avenues leveraging AIL’s core strengths • Sustainable manufacturing • Newer Development Capabilities • Customer Relationships MPP and Zone 4 Commercialization • R&D and MPP will support quick development, qualification and commercialization of new advanced chemistries • Chlorotoluene commissioning and ramp up will open up new opportunities in Agro and Pharma business segments Entry into Adjacent Markets and New Platforms • Leverage current capabilities to newer applications like advanced materials, battery materials, defense and coatings segments • Develop newer growth platforms in the space of sustainability / circularity Strategic Alliances and CDMO • Continue to promote India as manufacturing destination of choice and partner with customers for new India based investments • Leverage R&D strength to provide CDMO services to key clients
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1 2 3 4 5 Company Overview and Strengths Key Updates Financial Snapshots Growth Opportunity & Strategy Awards & Corporate Social Responsibility INDEX
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Corporate Social Responsibility Education & Skill Development 2.8 Crs Tribal & Rural Development 1.0 Crs Other CSR Initiatives 0.9 Crs Healthcare 2.3 Crs Women Empowerment 0.8 Crs Environment & Water Conservation 0.6 Crs Senior Citizen 0.4 Crs Livestock 0.2 Crs 8.9 Crs Total CSR Spent 19
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20 Awards & Certifications
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THANK YOU