Slides
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Investor Presentation Q2 FY 2026-27
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BusinessPerformance 2 Flattish Operating Performance resulting from higher material costLiquidity of the company remains strongRevenue grew by 27%, supported by strongimprovement in volumes.(Q2 FY27: ₹ 1094 Cr vs. Q2 FY26: ₹ 859Cr)Q2 FY27 EBITDA stood at ₹124 Cr compared with ₹130 Cr in Q2 FY26. with higher material costs ofsetting the benefits of volume growth.PBT stood at ₹ 153 Cr in Q2 FY27 vs ₹ 158 Cr in Q2 FY26H1 FY27Revenue grew by 4% in FY27 despite lower overallvolumes, supported by improved realizations andhealthy volume growth in Q2 FY27.(H1 FY27: ₹ 1,978 Cr vs. H1 FY26: ₹ 1,902 Cr)H1 FY27 EBITDA remained broadly stable at ₹ 231 Cr vs ₹ 223 Cr in H1 FY26, with EBITDA margin maintained at ~12%, despite lower overall volumes and higher material costs.PBT is ₹ 300 Cr in H1 FY27 vs ₹ 284 Cr in H1 FY26.Strong liquidity with free cash (net) of ~ ₹ 2584 Cr. Q2 FY27 Revenue Growth Supported by Strong Volume Performance Stronger Q2 performance supported by healthy volume growthStronger Volume growth by 28% during the quarter (Q2 FY27: 83,407 MT vs Q2 FY26: 65,336 MT)H1 FY27 volumes lower by 4%, mainly due to the Q1 decline.(H1 FY27: 151,106 MT vs. H1 FY26: 157,465 MT)Q2 FY27
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PVC Prices and PVC/EDC Delta Source: ICIS report PVC (USD/MT)0200400600800100012001400160018002000Jul-20Sep-20Nov-20Jan-21Mar-21May-21Jul-21Sep-21Nov-21Jan-22Mar-22May-22Jul-22Sep-22Nov-22Jan-23Mar-23May-23Jul-23Sep-23Nov-23Jan-24Mar-24May-24Jul-24Sep-24Nov-24Jan-25Mar-25May-25Jul-25Sep-25Nov-25Jan-26Mar-26May-26Jul-26Sep-26Q2 FY26 AvgQ2 FY27 Avg737771PVC/EDC Delta (USD/MT)020040060080010001200Jul-20Sep-20Nov-20Jan-21Mar-21May-21Jul-21Sep-21Nov-21Jan-22Mar-22May-22Jul-22Sep-22Nov-22Jan-23Mar-23May-23Jul-23Sep-23Nov-23Jan-24Mar-24May-24Jul-24Sep-24Nov-24Jan-25Mar-25May-25Jul-25Sep-25Nov-25Jan-26Mar-26May-26Jul-26Sep-26Q2 FY27 AvgQ2 FY26 Avg455535
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570,686EBIT (₹ Cr)Business Performance of the Company (H1 FY27 vs. H1 FY26) 4 Revenue (₹ Cr)Sales volumes (in MT)PBT (₹ Cr)6% -4%3%4%4,1025354,102570,6891,9023844,113572764157,465 151,106 YTD FY 26 YTD FY 271,902 1978YTD FY 26 YTD FY 27170 175YTD FY 26 YTD FY 27284 300YTD FY 26 YTD FY 27
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EBIT (₹ Cr)Business Performance of the Company for Q2 FY27 Revenue (₹ Cr)Sales volumes (in MT)PBT (₹ Cr)-3%4%28%23%-6%28%24%22%5All numbers are on Standalone basis65,336 67,699 83,407 Q2 FY26 Q1 FY27 Q2 FY27859 884 1,094Q2 FY26 Q1 FY27 Q2 FY27103 79 96Q2 FY26 Q1 FY27 Q2 FY27158 148 153Q2 FY26 Q1 FY27 Q2 FY27
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EBITDA Movement Q2 FY27 vs. Q2 FY26 6
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EBITDA Movement H1 FY27 vs. H1 FY26 7224 76 (82)8 6 231 EBITDA FY26RevenueMaterials Consumed Employee Benefit …Other ExpensesEBITDA FY27 ₹ Cr
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CSR Update
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Presence of Mukul Madhav Foundation in India
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Sustainable Development Goals (SDGs)
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Working in 15 out of 16 CSR Mandated Areas
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CSR activities Q2 FY27 - some snapshots 12Eradication of Hunger and Poverty•SAFE WATER, HEALTHIER LEARNING:-•Installed a water purifier at the Zilla Parishad School in Bhoke, Ratnagiri to provide students with purified drinking water throughout the school day. This is to ensure improved access to safe drinking water, reduced the risk of water-borne illnesses, and strengthened students’ health, hygiene, and comfort, while enhancing essential school infrastructure. •Provided access to clean, safe and fluoride-free drinking water in 10 schools at Kanker, Chattisgarh to improve public health outcomes, reduce the incidence of fluorosis, and enhance the overall well-being of the beneficiary communities through sustainable water solutions. The 'Fluoride-Safe Kanker' project is dedicated to ensure access to safe drinking water for school children. Promotion of Education•BUILDING WITH DIGNITY, CREATING SAFER LEARNING SPACES:-Undertook a new toilet construction project at a ZP School. The facility will directly benefit students, including girls, by providing access to safe, clean and dignified sanitation facility. •BUILDING BRIGHTER FUTURES THROUGH BETTER LEARNING:-Supported teacher and student enhancement initiatives focusing on strengthening teaching practices and improving educational opportunities at Meghalaya and Gujarat. The aim was to enhance the quality of education, support teachers in delivering effective learning experiences, and help students strengthen their academic skills and achieve better learning outcome•STEPPING TOWARDS A BRIGHTER FUTURE: FOOTWEAR DISTRIBUTION -Extended support by distributing one pair of shoes and one pair of socks each to students at Pune. The initiative supported students by providing essential footwear to help protect their feet and improve everyday comfort. Clean Water & Sanitation
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CSR activities Q2 FY27 - some snapshots 13•EEMPOWERING INCLUSIVE EDUCATION FOR SPECIAL CHILDREN: -Donated a Multifunction Printer to Seth Anandilal Poddar Badhir Senior Secondary School for deaf and dumb children, Jaipur, Rajasthan. The new printer will support the timely preparation of study materials, examination papers, worksheets and other essential documents, thereby enhancing both academic and administrative efficiency.•EMPOWERING INDIVIDUALS WITH DEAFBLINDNESS AND MULTIPLE DISABILITIES :-Supporting individuals with deafblindness and multiple disabilities through comprehensive rehabilitation, specialised interventions and access to essential support services across multiple states in India. The initiative has reached 653 beneficiaries across multiple states helping individuals with deafblindness and multiple disabilities access rehabilitation and support services that promote communication, independence, inclusion and an improved quality of life. Support to Differently AbledPromoting Gender Equality and empowering women•EMPOWERING TRIBAL WOMEN, BUILDING SUSTAINABLE LIVELIHOODS:-Signed two agreements with Shivia Livelihoods for Agri-Management Services, to train small and marginal tribal women farmers in sustainable bio-farming practices, including vermicomposting, biofertilizers, kitchen gardening, SRI paddy and millet cultivation and the Poultry Development Services Programme, will work with a local partner to provide poultry toolkits to vulnerable tribal households, alongside training, veterinary care, feed and medicines. These initiatives aim to empower 200 tribal women farmers with sustainable agricultural skills and support 200 vulnerable tribal households in developing poultry-based livelihoods.•CREATING A BETTER LEARNING ENVIRONMENT FOR TRIBAL GIRLS: -Distributed bed mattresses to residential tribal girls at the Rajasthan Bal Kalyan Samiti (RBKS), Education Complex. The initiative benefited tribal girls by improving their sleeping comfort and residential living conditions, supporting their overall well-being and helping to create a conducive environment for learning, growth and educational continuity.
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14•GROWING SKILLS, NURTURING SELF-RELIANCE : -Inaugurated a new nursery and green shed at Yerawada Open Jail, Pune along with implementation partner BEIF Development Research Foundation to strengthen sustainable agriculture, skill development, rehabilitation among prison inmates and to support the jail ecosystem. The initiative has enabled inmates to cultivate 70% of the jail’s vegetable requirements, reducing dependence on external purchases. The sale of surplus produce creates opportunities for income generation, while practical agricultural training promotes self-reliance and valuable livelihood skills. The Green Shed is also beneficial for the pilot initiative of Strawberry cultivation.•YELLOW RIBBON FAIR – EMPOWERING ARTISANS, ENABLING LIVELIHOODS :-Participated along with implementation partner Ishanya Foundation, in the Yellow Ribbon Fair, bringing together 12 Self-Help Groups (SHGs) from seven states to showcase and sell handcrafted products made by rural women artisans and persons with disabilities. The fair created a platform for artisans to showcase their skills, connect with customers and generate income, promoting financial independence, inclusive livelihoods and greater visibility for traditional crafts and entrepreneurial talent. •BRIDGING THE DIGITAL DIVIDE, EMPOWERING FUTURE LEADERS :-An agreement was signed with FICCI FLO Kanpur for the implementation of a Digital Literacy Programme benefiting girl students across 8 Nagar Nigam schools. Through structured training in computers, AI, online safety, digital citizenship and employability skills, students will develop greater digital awareness, technology confidence and career readiness. The programme will also enable them to access digital learning resources more effectively and use technology safely and responsibly. CSR activities Q2 FY27 - some snapshots Skills and Livelihood
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Promoting Preventive HealthcareCSR activities Q2 FY27 - some snapshots •RESTORING SMILES, TRANSFORMING LIVES:-Agreement was signed with Mission Smile to support 50 free cleft surgeries in Guwahati. The initiative will provide 50 children with access to safe, timely, and quality cleft surgery, helping restore smiles, improve their quality of life, and build confidence for a brighter future. •SUPPORTING CLUB FOOT SURGERIES:-Agreement was signed to provide clubfoot surgeries across India, helping children access corrective surgeries and specialised medical care to address clubfoot deformities. The initiative helps children improve their mobility, walk with greater ease and lead more active, independent lives. Early treatment reduces the risk of long-term disability, enabling children to participate more confidently in school and everyday activities. •PROMOTING MENSTRUAL HEALTH, DIGNITY AND CONFIDENCE:-Conducted a Menstrual Hygiene Awareness and Sanitary Towel Distribution Activity at RBKS Education Complex, Udaipur, Rajasthan. Sanitary pads were also distributed to 300 tribal girl students. Equipped tribal girl students with essential knowledge about menstrual hygiene while improving access to sanitary products. •SPREADING AWARENESS, ENABLING EARLY DETECTION FOR THALASSEMIA:-Conducted a Thalassemia and Diabetes Awareness Session and organized by Tilak Maharashtra Vidyapeeth College, Pune. Empoweredyoung people with essential knowledge about Thalassemia and Diabetes, encouraging informed health choices and timely medical intervention. •Thalassemia Support:-Providing medicines and filters and conducting awareness sessions. Provided critical support to individuals suffering with thalassemia at Gujarat and Maharashtra with Implementation partner Thalassemia Society, KEM Hospital, Jankalyan Blood Bank•Diabetes Support:-Supporting patients with blood tests, awareness session and data collection for research. Provided critical support to individuals suffering with Diabetes. Vadodara, Gujarat, Daund, Karad, Satara, Jalgaon, Chennai and Coimbatore, Tamil Nadu, Assam.•TB Support:-Providing medicine kits and conducting awareness sessions. Provided critical support to individuals suffering with TB at Maharashtra, Gujarat, Rajasthan.
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CSR activities Q2 FY27 - some snapshots 16•PROTECTING CHILDREN, PREVENTING ABUSE AND TRAFFICKING: -Signed an agreement supporting initiatives focused on preventing child abuse and trafficking in Bihar. The initiative contributes to strengthening child protection efforts and promoting safer environments for children, helping safeguard their rights, dignity and well-being. Peace Justice And Strong InstitutionsPromoting Sports•FROM INDIA TO THE WORLD: SOHURSH SHANKAR STRIKES GOLD AT THE AWPC WORLD CHAMPIONSHIPS:-Extended individual sports sponsorship to young power lifter SohurshShankar, supporting his participation in the AWPC World Championships in Manchester, UK. •Sohursh won Gold at the AWPC World Championships on 10 September, bringing pride to India. The support enabled a talented young athlete to compete on the global stage, demonstrating how timely encouragement and resources can help individuals realise their potential and achieve sporting excellence.
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Marketing InitiativesQ2 : FY 26-27
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Wari Initiative 2026 – July Facilitated the journey of devotion for lakhs of Warkaris through large-scale distribution of 4.6 Lacs PP Bags, 35K Ponchos, 20K Walking Sticks, 10K+ Police Raincoats, 250 QRT Jackets, 10K Charanseva Kits, and refreshments across key Wari touchpoints.
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80K+ Views 9K+ Reach CampaignPerformance Wari 2026 Influencer Reels – 17thJuly Amol’s Reel 126K+ Views 5.7K+ Likes CampaignPerformanceKishori’s Reel
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183K+ Likes20M+ Views 7M+ Reach CampaignPerformance Wari 2026 Reel– 20thJuly Promotions were done on Instagram
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15K+ Clicks11M+ Views 6M+ Reach CampaignPerformance Wari 2026 AV– 4thAugustPromotions were done on Facebook andYoutube
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Wari 2026 Organic Visibility and Gifting Got organic Visibility of more than 8M+ Views
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3.2K+ Likes151K+ Views 60K+ Reach CampaignPerformance Puri Rath Yatra 2026 Influencer Reel – 24thJuly Soumya's Reel
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Ganesh Mahotsav Initiative 2026 – 14th to 24thSep Facilitated a special Dagdusheth Ganpati Darshan experience for 18+dealers, 130+ retailers, 22+ content creators, and their families, strengthening stakeholder engagement and goodwill.
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177K+ Likes16M+ Views 10M+ Reach CampaignPerformance Ganesh Mahotsav 2026 Reel– 25thSeptember Promotions were done on Instagram,Facebook, YouTube and LinkedIn
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Independence Day – 15thAugustAshadi Ekadashi -25th JulyTopical Print Ads Ganesh Chaturthi – 14thSeptember
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THANK YOU