Slides
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Clean Science and Technology Ltd. Investor Presentation Q2 FY 2027 I October 2026
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2 This investor presentation has been prepared by Clean Science and Technology Limited (“CSTL”) and does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or supplied, should not be deemed to constitute an offer. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this presentation is only current as of its date. Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements”, including those relating to the general business plans and strategy of Clean Science and Technology , its future financial condition and growth prospects, future developments in its industry and its competitive and regulatory environment, and statements which contain words or phrases such as ‘will’, ‘expected to’, ‘horizons of growth’, ‘strong growth prospects’, among many others, or similar expressions or variations of such expressions. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. Clean Science and Technology Limited may alter, modify, or otherwise change in any manner, the content of this presentation, without obligation to notify any person of such revision or changes. This presentation cannot be copied and disseminated in any manner. SAFE HARBOUR
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Q2 FY 2027 Business Update
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4 Q2 FY2027 UPDATE - Consolidated Progressive revenue growth supported by new segment, margins moderated due to geopolitical headwinds 9.1% 9.2% 10.3% 10.9% 10.7% 12.8% 11.4% 12.9% 37.1% 37.4% 35.0% 40.1% 39.9% 37.0% 39.7% 43.3%41.5% 40.9% 41.6% 36.4% 33.4% 38.9% 36.5% 31.2% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 P&F costs % RM costs % EBITDA % CAPEX & BUSINESS UPDATE ➢ Incurred total capex of ~ Rs. 150 crores during H1 FY2027 towards investment in Clean Fino Chem Ltd. (CFCL), wholly owned subsidiary of CSTL ➢ CFCL completed advanced HALS product trials with Geneus Chem AG, meeting quality and regulatory standards; commercial launch expected in H2 FY2026–27 ➢ Performance Chemical 2, expected to commercialised in H2 FY 27. Note: RM - raw material; P&F – power & fuel Revenue in INR Crore Q4 FY25 264 Q1 FY26 243 Q3 FY25 241 Q2 FY27 299 Q1 FY27 268 Q2 FY26 245 Q3 FY26 220 Q4 FY26 249
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5 Q2 FY2027 P&L OVERVIEW Core business strong, new business scaling: CFCL adds INR ~48 crs of YoY sales and turns PAT positive P&L (INR Crore) STANDALONE CONSOLIDATED Particular Q2 FY2027 Q1 FY2027 Q-o-Q (%) Q2 FY2026 Y-o-Y (%) Q2 FY2027 Q1 FY2026 Q-o-Q (%) Q2 FY2026 Y-o-Y (%) Sale of products 226 203 11% 206 10% 295 264 12% 240 23% Other operating income 7 4 5 4 4 5 Total Revenue 233 207 12% 211 10% 299 268 12% 245 22% Raw material expenses 93 70 32% 72 30% 128 105 22% 96 33% Raw material % 41.2% 34.6% 34.7% 43.3% 39.7% 40.1% Other operating expenses 58 50 16% 50 16% 80 67 19% 61 31% EBITDA 82 87 (5%) 90 (9%) 92 96 (5%) 87 5% EBITDA % 36.3% 42.7% 43.6% 31.2% 36.5% 36.4% Depreciation expenses 11 11 11 21 21 19 Finance costs 1 0 0 2 0 0 Other Income 4 21 7 6 22 7 Profit before tax (PBT) 74 97 (24%) 86 (14%) 74 98 (24%) 75 (1%) PBT % 32.7% 48.0% 41.6% 25.2% 36.9% 31.3% Profit after tax (PAT) 55 73 (25%) 65 (14%) 56 73 (25%) 55 0.5% PAT % 24.5% 36.0% 31.3% 18.9% 27.8% 23.2%
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6 H1 FY2027 P&L OVERVIEW Stronger growth coming from newer segments, contributing to 22% of the revenue during the first half of the year P&L (INR Crore) STANDALONE CONSOLIDATED Particular H1FY2027 H1FY2026 Y-o-Y (%) H1 FY2027 H1 FY2026 Y-o-Y (%) Sale of products 430 423 2% 559 480 17% Other operating income 10 8 9 8 Total Revenue 440 431 2% 568 488 16% Raw material expenses 164 142 15% 233 180 29% Raw material % 38.1% 33.6% 41.7% 37.5% Other operating expenses 107 99 8% 147 121 21% EBITDA 169 191 (11)% 188 187 1% EBITDA % 39.3% 45.1% 33.7% 39.0% Depreciation expenses 21 22 42 37 Finance costs 2 0 2 0 Other Income 25 20 28 20 Profit before tax (PBT) 171 188 (9)% 172 169 2% PBT % 39.9% 44.5% 30.7% 35.3% Profit after tax (PAT) 129 141 (9)% 129 125 3% PAT% 29.9% 33.3% 23.1% 26.2%
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7 H1 FY2027 BALANCE SHEET OVERVIEW Balance sheet shifting from investment phase to asset monitisation phase Standalone Balance Sheet (INR Crore) As at As at 30-Sept.-2026 31-March-2026 Assets Non-current assets Fixed Assets 317 336 Capital work-in-progress 11 4 Right of use asset 4 4 Other non-current assets 953 814 Total non-current assets 1,284 1,157 Current assets Inventories 142 102 Investments 265 343 Trade receivables 190 149 Cash and bank balances 8 17 Other current assets 31 15 Total current assets 635 627 Total assets 1,919 1,784 Equity and Liabilities Net-worth 1,733 1,646 Non-current liabilities Lease liabilities 1 1 Other financial liabilities 2 2 Other non-current liabilities 31 30 Total non-current liabilities 34 33 Current liabilities Trade payables 112 74 Other current liabilities 39 31 Total current liabilities 152 106 Total equity and liabilities 1,919 1,784 Consolidated Balance Sheet (INR Crore) As at As at 30-Sept.-2026 31-March-2026 Assets Non-current assets Fixed Assets 701 719 Capital work-in-progress 156 118 Right of use asset 35 35 Other non-current assets 74 82 Total non-current assets 967 955 Current assets Inventories 221 154 Investments 350 347 Trade receivables 263 206 Cash and bank balances 20 28 Other current assets 99 93 Total current assets 953 828 Total assets 1,920 1,783 Equity and Liabilities Net-worth 1,672 1,584 Non-current liabilities Lease liabilities 2 2 Other financial liabilities 2 2 Other non-current liabilities 31 30 Total non-current liabilities 35 34 Current liabilities Trade payables 163 116 Other current liabilities 50 49 Total current liabilities 213 165 Total equity and liabilities 1,920 1,783
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8 REVENUE PROFILE –H1 FY 2027 - Consolidated Performance segment share increased led by higher volume of HALS series 8 REVENUE MIX BY SEGMENT Performance chemicals Pharma & Agro Intermediates FMCG chemicals 79% 13% 7% H1 FY’27 75% 16% 9% H1 FY’26 ➢ HALS segment grew 2x during the H1 FY27 on the bank of higher volumes. ➢ Successfully de-risked product concentration, with the top four legacy products' contribution declining from ~85% in Q4 FY23 to ~58% this quarter; HALS now accounts for 22% of sales Business Update
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Corporate presentation
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CLEAN SCIENCE AND TECHNOLOGY AT A GLANCE A brief Introduction about the Company 10 ➢ One of the fastest growing and among the most profitable fine and specialty chemical companies globally. Among the largest manufacturers of certain specialty chemicals developed in-house. ➢ Among the few global organizations focused on developing ingenious technologies with unique, innovative, sustainable, and cost- effective catalytic manufacturing processes 500+ Global and domestic customers across 35+ countries 1,600+ Strong team (10% women staff) 16+ Accreditation & Certifications Zero Debt Company 61% consolidated revenues from exports 4 manufacturing units State-of-art Pilot facility Fully equipped Application lab 65+ Scientists over 4 R&D facilities Sustainability and ESG deeply ingrained in our philosophy
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COMPANY EVOLUTION Continuous R&D and Innovation has led to new product launches on a consistent basis 11 2009 2011 2014 2018 2020 2021 2022 Genesis: ➢ Technocrat Promoters collaborated to develop novel, clean and sustainable chemical processes ➢ Aligned to the philosophy, Company was named as Clean Science and Technology ➢ Commercialized unique catalytic process for MEHQ and Guaiacol ➢ Commercialized unique catalytic process for 4-MAP ➢ Commercialized unique catalytic forward integration process for BHA ➢ Commercialized unique vapor phase route for Anisole ➢ Backward integration for flagship products ➢ Commercialized unique technology process for DCC ➢ Commercialized TBHQ ➢ Expanded capacity of MEHQ, Guaiacol and BHA by 50% ➢ Commercialized HALS 770 & 701 2023 2024 ➢ Commercialized largest plant for HALS from India YEAR REVENUES (INR Crore) 2009 2011 2014 2018 2020 2022 1 19 120 241 419 685 2021 512 2023 936 2024 789 2025 967 ➢ Recorded highest volume across products 2025 2026 957 ➢ launched HQ & Catechol 2026
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12 DIVERSIFIED PRODUCT PROFILE SERVING CRITICAL END-USER INDUSTRIES Largest capacity in the world for our flagship products PERFORMANCE CHEMICALS MEHQ (Monomethyl Ether of Hydroquinone) ➢ Used as polymerization inhibitor in acrylic acids, acrylic esters, super absorbent polymers (diapers and sanitary pads) ➢ Pre-cursor for agrochemical industry BHA (Butylated Hydroxy Anisole) ➢ Used as anti-oxidant in food and feed industry AP (Ascorbyl Palmitate) ➢ Used in infant food formulations, breakfast cereals and cosmetics TBHQ (Tertiary Butyl Hydroquinone) ➢ Stabilizer in oil industry Globally 1 Globally 1 Globally 2 PHARMA AND AGRO INTERMEDIATES FMCG CHEMICALS Guaiacol ➢ Pre-cursor to manufacture APIs for cough syrup (pharma industry) ➢ Key raw material to produce Vanillin DCC (Dicyclohexyl Carbodiimide) ➢ Used as reagent in anti-retroviral 4-MAP (4-Methoxy Acetophenone) ➢ Used in UV blocker in sunscreens (cosmetics industry) Anisole ➢ Precursor to perfumes, insect pheromones, pharmaceuticals ➢ Majority of Anisole produced is used for captive consumption Globally 2 in India 1 Globally 2 in India 1 Globally 1 Globally 1 HALS (Hindered Amine light Stabilizers) ➢ Tempo Series - 4HT, 4OT & 4BT, is used in water treatment and polymerisation inhibition ➢ HALS 770, 622, 944, 119, 783, 2020, NOR HALS is used for UV stabilization in a variety of polymers in India 1 Globally 1 Veratrole ➢ Intermediate in agrochemical industry Amongst largest in India Catechol ➢ Used in agrochemicals, pharmaceuticals and flavours & fragrances Amongst largest in India Hydroquinone ➢ Used as intermediate for anti-oxidant and as polymerisation inhibitor Amongst largest in India
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KEY DIFFERENTIATORS THAT ADD VALUE Unique benefits that set our business apart from competition 13 INNOVATION Strategic process innovation and new product development driven by a strong in-house R&D team GLOBAL LEADERS Among the largest producers globally of critical specialty chemicals with diversified applications PREFERRED PARTNER OF CHOICE Strong and long term relationships with a well diversified marquee customer base STATE-OF-THE-ART Multiple, automated manufacturing facilities with zero liquid discharge and strong focus on EHS STATISTIC Strong and consistent financial performance FORMULATION Unique, innovative, sustainable and cost- effective catalytic manufacturing process PROMOTERS Technocrat promoters supported by an experienced workforce with extensive domain knowledge
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STEADFAST FOCUS ON RESEARCH & DEVELOPMENT Pioneered commercialization of catalytic reactions 14 Research and Development team’s focus areas Enhance our existing catalyst systems to further optimize yield and selectivity Expand product portfolio in the performance chemical segment Develop products with high demand which are produced by limited manufacturers globally 1 2 3 BACKED BY DIVERSE TECHNOLOGY Continuous flow reaction Vapour phase reaction Tri-phasic reaction Fixed bed reaction COMPETENCY ACROSS ~15+ CHEMISTRIES Hydroxylation Alkylation Oxidation Hydrogenation HalogenationCatalysis Esterification LED BY EXEMPLARY R&D TEAM March 2018 March 2026 1 PhD 22 scientists 6 PhDs 65+ scientists 4 independent R&D labs with pilot facility and application lab Polymeric Reaction Grignard Reaction Chlorination
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15 COHESIVE AND TECHNOCRAT PROMOTERS Strong visibility on longevity of Promoters’ engagement in the business ASHOK BOOB Executive Vice Chairman Key functions: Projects, Manufacturing Capabilities SIDDHARTH SIKCHI Managing Director Key functions: Marketing, R&D KRISHNA BOOB Executive Director Key functions: Industrial relations, Purchase Over 3 decades of work experience in the chemical industry. Bachelor of Chemical Engineering – Institute of Chemical Technology, Mumbai, India (formerly known as UDCT) Over 2 decades of experience in the chemical industry. Bachelor of Chemical Technology – Institute of Chemical Technology, Mumbai, India (formerly known as UDCT) Master of Science in Organic Chemistry – University of Manitoba, Canada. Over 3 decades of expertise in the chemical industry. Bachelor of Pharmacy – University of Mumbai, India
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ROBUST CORPORATE GOVERNANCE Distinguished Board of Directors and reputed financial market participants underscore sound governance 16 PROFILE OF DIRECTORS ON THE BOARD PRADEEP RATHI Chairman and Non-Executive Director B.Sc, M.S. (MIT, USA) MBA (Columbia, USA) KEVAL DOSHI Non-Executive, Independent Director B.Com. (University of Mumbai) Member of ICAI Erstwhile Partner at Ernst & Young LLP Mr. Raj Kamal Non-Executive, Independent Director M.A., LL.B., Diploma in Foreign Trade Management IIFT, New Delhi Non-Executive, Independent Director Member of ICAI and ICMAI Erstwhile Partner at Ernst & Young LLP Ms. Pallavi Gokhale Mr. Krishna Kumar Saboo Whole Time Director 40 years | B.Sc. & B.Tech. Extensive expertise in chemical manufacturing, operations, business management, and strategic leadership.
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SOCIAL RESPONSIBILITY (S) ➢ Total contribution towards CSR activities during last 3 years is over INR 21 crore ➢ Health, safety and wellbeing of employees is integral part of all our activities ➢ Continual improvement in safety measures have resulted in zero casualties till date ➢ Our key initiatives include regular safety audits, safety trainings and health checkups among others CONTINUED COMMITMENT TOWARDS SUSTAINABILITY AND ESG Sustainability and ESG initiatives are embedded in our long term growth strategy 17 ENVIRONMENT EMPATHY (E) ➢ Utilize resources efficiently, reduce waste and minimize emissions as part of our sustainability commitment ➢ We aim to plant more than 50,000 trees over the next five years ➢ ~20 MW solar capacity. Share of renewable energy in power consumption at 65%. ➢ To reduced GHG emission by 15% over 5 years starting 2023 ➢ To reduced specific water consumption by 15% over 5 years starting 2023 ➢ To reduced specific energy consumption by 15% over 5 years starting 2023 CORPORATE GOVERNANCE (G) ➢ Big 4 Statutory auditors ➢ Highly experienced, competent and balanced Board driving corporate ethics and values ➢ Long term & short term ratings by CRISIL are AA- (Stable) and A1+ respectively ➢ Dividend track record with defined dividend payout policy ➢ Received Maharashtra State Export award for 4 consecutive years ➢ No auditor qualification or re-statements of financial statements till date EducationHealthcare Medical Relief Vocational Skills Environment Sustainability Corporate Social Responsibility Committee Risk Management Committee Stakeholders Relationship Committee Audit Committee Nomination And Remuneration Committee GreenCo Certificate EcovadisTogether for Sustainability FOCUS ON SUSTAINABILITY FOCUS ON CSR ACTIVITIES FOCUS ON GOVERNANCE Reduce ReuseRecycle
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ADVANCED MANUFACTURING FACILITIES DESIGNED BY IN-HOUSE ENGINEERING TEAM 3 independent functional units under CSTL at Kurkumbh Industrial Area, Maharashtra with dedicated lines for each product UNIT 1 7 plants Total area – 30,000 sq.m UNIT 2 4 plants Total area – 23,337 sq.m UNIT 3 5 plants Total area – 40,343 sq.m NO plant closure notice received from pollution control board All Units are ISO 9001, ISO 14001 and ISO 45001 certified Sustainable processes ensures zero liquid discharge (ZLD) facility 18 ➢ Multiple dedicated plants for key products. To that extent, each plant is immune to challenges in other plants ➢ Independent plants for catalysts ➢ Each unit has a separate R&D facility, warehouse, engineering and utility section
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COMMERCIALIZED LARGEST FACILITY FOR HALS FROM INDIA Largest facility of Clean Science Group housed in its wholly owned subsidiary, Clean Fino Chem Ltd. at Kurkumbh Industrial Area, Maharashtra UNIT 4 Commercialized in March 2024 Total area – 1,32,700 sq.mtrs. (34 acres) Cost advantage - Tax incentive Sizeable benefits of integrated facility 19
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STRONG FINANCIAL PERFORMANCE Resilient profitability metric across business cycle FY 2022 FY 2023 FY 2024 FY 2025 296 427 401 364 2.3x 2.2x 2.0x Figures in INR crore RoCE = EBIT (ex. Other income)/capital employed (i.e. Gross FA + Working Capital); RoNW = PAT as % of net worth; Net Fixed Asset Turnover = Revenue from Operations/Net Fixed Assets; Note: These are standalone metrics as consolidated operations commercialized meaningfully only during H2 FY2025 20 REVENUE PAT & PAT% RoCE RoNW Net FA & Net FA turnover(x) EBITDA & EBITDA% FY 2022 FY 2023 FY 2024 FY 2025 229 304 248 292 51.5% 49.7% 38.7% 44.3% FY 2022 FY 2023 FY 2024 FY 2025 29.7% 29.8% 20.4% 20.1% FY 2022 FY 2023 FY 2024 FY 2025 815685 936 789 FY 2026FY 2022 FY 2023 FY 2024 922 FY 2025 FY 2022 FY 2023 FY 2024 FY 2025 300 403 337 399 FY 2026 353 44% 43% 43% 44% 251 FY 2026 34% 33% 32% 32% 32% FY 2026 39.4% FY 2026 15.3% 340 2.5x 2.4x FY 2026 44%
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21 KEY GROWTH LEVERS Strategic initiatives and investments aimed at long term sustainable growth SIGNIFICANT GREENFIELD CAPEX Planned capex on track for commercialising new series of products ADD NEW COMPETENCIES Adding new chemistries and process technologies with significant focus on high value products that limited manufacturers produce globally NEW PRODUCT DEVELOPMENT Strategic investments towards developing products for new range of speciality chemicals that find applications across diverse and fast growing end user industries FOCUS ON ESG AND SUSTAINABILITY Capitalise on our core philosophy of clean and green chemistry to address opportunities arising from the shift in demand to sustainable chemistry. STRENGTHEN IN INDIA AND EXPAND GLOBALLY Focus on import substitution opportunities in India and add new export customers across geographies OUR KEY GROWTH DRIVERS
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THANK YOU For further information, please contact: PRATIK BORA Email: pratik@cleanscience.co.in Clean Science and Technology Limited Website: https://www.cleanscience.co.in/