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Prosperity With Orderliness We d o d i f fe re n t t h i n g s, We d o t h i n g s d i f fe re nt l y Investor Presentation Q2 & H1 FY26 -27
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Prosperity With Orderliness This presentation and the accompanying slides (the “Presentation”), which have been prepared by Privi Speciality Chemicals Limited (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. This presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company. Safe Harbor
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Prosperity With Orderliness Index 01 Highlight’s Strategic vision and performance overview 02 Q2 & H1 FY27 Results Consolidated performance metrics 03 04 Growth Strategy Strategic priorities and outlook Company Overview About Us
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Prosperity With Orderliness ▪ Q2 FY27 extended our momentum with strong financial performance, reflecting the resilience of our business model and disciplined execution even under difficult global headwinds. ▪ We delivered Rs 773.16 Cr of total income representing 13.90% year-on-year growth, Rs 212.49 Cr of EBITDA with 16.66 % year-on-year growth and Rs 117.03 Cr of Net Profit with 24.61% year-on-year growth, supported by broad-based demand across domestic and export markets. We are positive to continue the momentum. ▪ Our business has continued to be resilient despite adverse global headwinds. ▪ Our diversified geographic presence has supported stability across markets. ▪ The expansion projects are progressing as planned and will be ready for commercial operations in second half of 2028. ▪ Our new products are expected to expand our addressable market, deepen customer relationships, and contribute meaningfully to growth in the coming years. ▪ With a strong balance sheet, healthy cash flows, and a clear strategic roadmap, we remain well positioned for the future. Highlights
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Prosperity With Orderliness Performance at a glance – Q2 & H1 FY27 212.49 (+16.7% YoY) EBITDA (Rs. Cr) EBITDA Margin (%) 27.48% (+65 bps YoY) 773.16 (+13.9% YoY) Revenue (Rs. Cr) PAT (Rs. Cr) 117.03 (+24.6% YoY) As on 30th Sept’26 24.30 (+216 bps YoY) ROCE (%) As on 30th Sept’26 26.34 (+134 bps YoY) ROE (%) As on 30th Sept’26 1.07 (32.1% YoY Improvement) Net Debt to EBITDA (x) As on 30th Sept’26 0.51 (37.9% YoY Improvement) Net Debt to Equity (x) 379.96 (+17.6% YoY) EBITDA (Rs. Cr) EBITDA Margin (%) 26.12% (+20 bps YoY) 1,454.59 (+16.7% YoY) Revenue (Rs. Cr) PAT (Rs. Cr) 201.23 (+29.1% YoY) Q2 FY27 H1 FY27 Balance sheet & returns
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Prosperity With Orderliness Consolidated Profit & Loss Account Particulars (Rs. Cr.) Q2FY27 Q2FY26 YoY H1FY27 H1FY26 YoY FY26 Revenue from operations 760.45 678.71 1,426.67 1,237.53 2,563.69 Other income 12.71 0.11 27.92 9.10 19.24 Total income 773.16 678.82 13.9% 1,454.59 1,246.62 16.7% 2,582.92 Raw Material 404.76 334.32 776.36 609.56 1,317.10 Power and fuel 50.93 45.49 96.87 84.38 173.69 Employee expense 29.81 29.02 59.72 56.41 114.71 Other expenses 75.16 87.85 141.67 173.08 311.97 EBITDA 212.49 182.14 16.7% 379.96 323.19 17.6% 665.45 EBITDA margin 27.5% 26.8% 65 bps 26.1% 25.9% 20 bps 25.8% Depreciation 37.04 35.60 74.40 71.81 143.80 EBIT 175.45 146.54 305.56 251.39 521.66 Finance cost 16.90 21.47 33.65 45.14 81.95 Profit before tax 158.55 125.07 271.92 206.25 439.70 Tax 41.02 34.86 71.54 58.49 122.98 Profit after tax 117.53 90.21 30.3% 200.37 147.76 35.6% 316.72 PAT atributable to NCI 0.51 (3.70) (0.86) (8.08) (10.82) PAT atributable to Company 117.03 93.91 24.6% 201.23 155.85 29.1% 327.54 PAT margin 15.1% 13.8% 130 bps 13.8% 12.5% 133 bps 12.7% EPS 29.96 24.04 51.52 39.90 83.85
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Prosperity With Orderliness Consolidated Balance Sheet Assets (Rs Cr.) Sept-26 Mar-26 Liabilities (Rs Cr.) Sept-26 Mar-26 Non Current Assets Equity Property, Plant and Equipment 1,044.38 1,111.68 Equity Share capital 39.06 39.06 Capital work-in-progress 453.01 297.65 Other Equity 1,536.08 1,373.37 Intangible assets 54.21 7.44 Non Controlling Interest 27.31 28.17 Intangible assets Under Development 7.70 16.12 Total Equity 1,602.46 1,440.61 Right of use assets 20.62 49.38 Financial Assets Financial Liabilities Investments 1.10 0.91 Borrowings 571.30 577.90 Other financial assets 24.60 22.73 Lease liabilities 6.28 2.70 Income Tax Asset 20.77 7.57 Provisions 34.21 33.23 Other non-current assets 103.13 60.44 Deferred tax liabilities (Net) 21.99 22.69 Total Non Current Assets 1,729.52 1,573.91 Total Non Current Liabilities 633.78 636.52 Current Assets Inventories 845.77 826.07 Financial Liabilities Financial Assets Borrowings 405.49 431.99 Investments 87.01 53.59 Lease liabilities 8.64 8.68 Trade receivables 463.09 526.01 Trade Payables 583.76 527.42 Cash and cash equivalents 73.95 44.09 Other financial liabilities 72.85 103.02 Other bank balances 0.54 25.44 Provisions 5.61 3.66 Other financial assets 1.49 1.47 Other current liabilities 53.56 14.90 Other current assets 169.20 119.24 Current tax liabilities (Net) 4.42 3.03 Total Current Assets 1,641.04 1,595.91 Total Current Liabilities 1,134.33 1,092.69 Total Assets 3,370.57 3,169.82 Total Equity and Liabilities 3,370.57 3,169.82
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Prosperity With Orderliness Consolidated Cashflow Particulars (Rs. Cr.) H1 FY27 FY26 Net Profit Before Tax 271.92 439.70 Adjustments for: Non Cash Items / Other Investment or Financial Items 86.73 236.03 Operating profit before working capital changes 358.65 675.74 Changes in working capital 85.76 -9.31 Cash generated from/(used in) operations 444.40 666.42 Direct taxes paid (net of refund) -84.14 -116.34 Net Cash from Operating Activities 360.26 550.09 Net Cash from Investing Activities -220.21 -358.08 Net Cash from Financing Activities -110.19 -197.67 Net Decrease in Cash and Cash equivalents 29.86 -5.66 Add: Cash & Cash equivalents at the beginning of the period 44.09 49.76 Cash & Cash equivalents at the end of the period 73.95 44.10
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Prosperity With Orderliness Q2 Performance across years 462.34 537.27 678.82 773.16 QE Sep-23 QE Sep-24 QE Sep-25 QE Sep-26 Rs Cr Total Income 96.32 114.66 182.14 212.49 QE Sep-23 QE Sep-24 QE Sep-25 QE Sep-26 Rs Cr EBITDA 30.51 44.66 93.91 117.03 QE Sep-23 QE Sep-24 QE Sep-25 QE Sep-26 Rs Cr Net Profit 20.8% 21.3% 26.8% 27.5% 6.6% 8.3% 13.8% 15.1% QE Sep-23 QE Sep-24 QE Sep-25 QE Sep-26 % EBITDA% PAT%
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Prosperity With Orderliness * On a Consolidated Basis FY23 FY24 FY25 FY26 +17% 5.45% 2.57% FY23 12.12% 10.74% FY24 16.45% 17.95% FY25 22.24% 24.76% FY26 182 151 136 117 FY23 FY24 FY25 FY26 -65 EBITDA (Rs. In Cr) PAT (Rs. In Cr) / Margin (%) ROCE & ROE (%)Net Debt (Rs. In Cr) & Net Debt / Equity (x) Net Working Capital (No. of days) RoCE RoE 207.34 354.82 474.16 665.45 FY23 FY24 FY25 FY26 21.28 95.43 187.00 327.54 FY23 FY24 FY25 FY26 1,028.83 912.46 1,064.96 886.77 FY23 FY24 FY25 FY26 1.31% 5.37% 8.81% EBITDA Margin (%) 12.73% 19.95% 22.35% 25.76% FY23 FY24 FY25 FY26 4.96x 2.25x 1.33x FY23 2.57x FY24 FY25 FY26 Net Debt / EBITDA (x) 12.68% 1,629.24 1,778.53 2,121.84 2,582.92 1.23x 0.97x 0.95x 0.62x +48% +149% Total Income (Rs. In Cr) Annual Performance
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Prosperity With Orderliness COMPANY OVERVIEW P R I V I S P E C I A L I T Y C H E M I C A L S L I M I T E D
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Prosperity With Orderliness India's Leading Aroma Chemicals Manufacturer A 30+ year track record of building global leadership in pine- based and speciality aroma chemicals— supplying the world's top fragranceand FMCG companies. Products 75+ Production Capacity 48,000 MTPA 2 R&D CENTRES Dedicated Centres driving innovation 7 State of art Manufacturing Facilities CST Processing Capacity 36,000 MTPA GTO Processing Capacity 12,000 MTPA Exports to Countries 40+ Near JNPT Port & Ankleshwar Dry Port Strategically Located Raw Materials Used are derived from Renewable Resources 70% Leading manufacturer, Supplier & Exporter of Aroma Chemicals
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Prosperity With Orderliness Our Journey 2023 Crossed turnover of Rs 1,500 Crores Launched Galaxmusk, Camphor and Prionyl. 2025 Turnover crossed Rs. 2,000 Crores. Comissioned and commenced commercial production at PRIGIV 2026 Turnover crossed Rs. 2,500 Crores. Way Forward Working on 5K:1K plan 2021 Promoter bought back Fairfax equity Announced JV with Givaudan SA as PRIGIV 2020 Demerged from Fairchem Speciality Name change to Privi Speciality Chemicals Ltd, independently listed 2019 Turnover crossed Rs 1000 Cr. 2017 Indirectly listed as subsidiary of Fairchem Speciality 2011 Private Equity Investment by Standard Chartered 2012 Backward integration by setting up CST & GTO capacity 2014 Longer term contracts – Givaudan SA, P&G, Henkel Started commercial production at Unit- VI Gujarat 2016 Private Equity Investment by Fairfax 2007 Infusion of Private Equity Capital by Avigo 2005 Turnover crossed Rs 100 Cr. 1997 Commenced First Export to Germany 1993 Started manufacturing aroma chemicals.
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Prosperity With Orderliness Disclaimer: This map is a generalised illustration only for the ease of the reader to understand the locations, and it is not intended to be used for reference purposes. The representation of political boundaries and the names of geographical features/states do not necessarily reflect the actual position. Our Company or any of our Directors, officers or employees cannot be held responsible for any misuse or misinterpretation of any information or design thereof. Our Company does not warrant or represent any kind of connection with its accuracy or completeness. 2 Manufacturing Sites 7 Distribution Centres 3 Stocking Points Serving 40+ Countries Mexico New Jersey Manchester Rotterdam Milano Grasse Mahad, Maharastra Jhagadia, Gujarat India Shanghai Singapore Geographical Presence
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Prosperity With Orderliness Competitive Advantages Robust Manufacturing • Privi’s state-of-the-art manufacturing capacities are amongst the largest globally • Manufacturing infrastructure has the best-in-class regulatory compliance & certificationsBackward Integration • Integrated inhouse developed CST processing for manufacturing key raw material for pine-based products • CST process know-how and sourcing is a prominent entry barrier, offering Privi a significant advantage vs. peers • Margin stability - Procuring CST at a long term contracts R&D Capabilities • Substantial and long-term emphasis on R&D with process scale up, project implementation being done in-house • Track-record of successfully commercializing multiple products from R&D phase to scale up
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Prosperity With Orderliness PRIGIV Plant at Mahad, MH 51% 49% India's leading manufacturer of aroma and fragrance chemicals Globally trusted partner and a preferred supplier of bulk aroma chemicals Swiss multinational manufacturer of flavours, fragrances and active cosmetic ingredients World's largest company in the flavour and fragrance industries Dedicated product portfolio: Manufacturing more than 40+ specialty products exclusively for Givaudan Expansion : Privi and Givaudan together invested Rs. 50 crores as equity : Project under implementation High-Value Specialty Expansion: Evaluating additional CAPEX to manufacture high-value specialty molecules using in-house technology, with potential revenue of ~Rs. 100+ crore PRIGIV — Strategic JV with Givaudan
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Prosperity With Orderliness High R&D focus to develop new products and processes New Product Development Laboratory based production Pilot Plant Production Design & Planning for Commercial Production Synthetic Organic Research lab and Pilot plants are approved by the Department of Scientific and Industrial Research (DSIR), Ministry of Science and Technology. Well equipped with new instruments & machinery like GCMS, GLCS, FTIR, UV Spectrophotometer, Refractometer, Polarimeter, Colorimeter, Bomb Calorimeter, Reaction, Distillation and Recovery Units R&D team strength including scientist, microbiologist & chemistry professionals Improving yield and process for future development on continues basis 117 R&D Centers at Mahad and Nerul02 DSIR recognition for both R&D centres extended till 2029
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Prosperity With Orderliness • Regular safety audits and emergency drills • Skilling programs & Kaizen for continuous improvement • Culture of urgency, transparency & care through the 5S Values • About 70% raw materials from renewable sources • Energy, water, and waste reduction programs • Zero Liquid Discharge (ZLD) facilities in place • Solvent recovery, by- product valorization • Continuous process improvement leading to better Yields • Strong cost discipline and operational controls driving profitability • Energy efficiency improvement to save utility cost • 2 R&D centers (Mahad & Nerul) • 114-member R&D team with scientists, microbiologists, chemists • Concept-to-Commercialisation framework ensures faster time- to-market • Focus on biotechnology, synthetic innovations & green chemistry • Capacity debottlenecking across plants • Preventive and Predictive maintenance systems in place • Capacity Expansion plan Safety & People Sustainability Process EfficiencyR&D & Quality Asset & Capacity Operational Excellence : Driving Efficiency, Quality & Sustainability
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Prosperity With Orderliness GROWTH STRATEGY P R I V I S P E C I A L I T Y C H E M I C A L S L I M I T E D
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Prosperity With Orderliness Marching towards Vision – 5k | 1k Milestone* • Existing products expansion • Maltol and Ethyl Maltol • Renewable Cyclopentanone • 10+ other High end Specialty Products • Furfural • 40+ Products under PRIGIV * The above figures are based on management estimates and are subject to change depending on external factors and requisite approvals. On track to achieve the vision of Rs 5,000 Cr revenue and Rs 1,000 Cr + EBITDA by FY29-30, representing more than 2x growth. EBITDA margins are expected to sustain north of 20%, driven by continued operational efficiency and an enhanced product mix New Projects and Products
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Prosperity With Orderliness Diverse Product Portfolio PFSPL includes Privial, Anethole, and Cyclamen Aldehyde used in fine and functional flavours and fragrances Green Science Advantage Expands offerings through sustainable chemistry solutions Innovation-Driven Research focused on converting corn and cob into high-value products like Furfural and its derivatives Growth Enabler Product and R&D capabilities expected to drive long-term business growth Biotech-Focused R&D PBPL, a 100% subsidiary, specializes in biotechnology-driven flavour and fragrance development Green Science Vision Aligns with the company's belief in sustainable, nature-like aroma chemicals Strategic Merger Planned integration with the parent company to strengthen core operations and enhance agility Synergistic Growth Merger expected to unlock faster growth through combined expertise in aroma chemicals Key Rationale Privi Fine Sciences Private Limited (PFSPL) Privi Biotechnologies Private Limited (PBPL) Privi Speciality Chemicals Limited (PSCL)+ + Proposed Scheme of Amalgamation
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Prosperity With Orderliness Key Growth Levers Growth Levers 1 2 3 4 5 6 Expanding the reach of current products to increase sales Existing Product Expansion Introducing new products, in synergy with existing raw material New Product Innovation Improving profitability by increasing gross margins Gross Margin Expansion Optimizing working capital to enhance liquidity and operational efficiency Efficient Working Capital Management State tax incentive against CAPEX done Incentive Diversifying supply chains with a focus on China and additional markets China +1 Strategy
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Prosperity With Orderliness Flagship product capacity augmentation project nearing completion. Privi harnessing in- house talent for increased responsibilities. Significant progress in scaling biomass conversion technologies. Speciality molecule expansion projects progressing. Technology group creating IP rights for new technologies. Strengthening its Information Technology and Systems to use Artificial Intelligence tools Key Business Highlights 5k:1k and beyond Capacity Augmentation Intellectual Property In-house talentExpansion Projects Biorefinery Information Technology
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Prosperity With Orderliness Investor Relations Advisors : Adfactors PR Pvt. Ltd. Rushabh Shah: rushabh.shah@adfactorspr.com M: +91 8082180182 Pratik Shah: pratik.shah@adfactorspr.com M: +91 9870030585 For further queries, Please contact: Thank You Company : Mr. Sanjeev Patil Executive Vice President - Strategy investors@privi.co.in www.privi.co.in