Building

Materials
Custom
Molding
Environmental
products
Textiles
Consumer
products
1
Company Snapshot 2014 Company Snapshot 2014
Custom Molding
44%
Building Products
46%
Textile
10%
Introduced
prefab
Presence in
USA, Europe
Designed and
introduced
Niche market:
Focus on high
end structured
dyed yarn
Products
molded and
India Overseas Storage Tanks Prefab Monolithic
Make popular
liquid storage
structures like
school, toilet,
primary health
center, agri-
sheds
telecom
shelters, etc
and North Africa
Acquired
companies to
gain technology
and customers
Monolithic
Construction in
India to address
mass and low
cost housing
needs
fabrics
Alliances with
various
European
design houses
like Armani,
Hugo, etc.
fabricated to
OEMs across
market segment
like aerospace &
defense,
automotive,
electrical.
tanks, doors,
windows,
profilrs, frames,
pallets, etc.
10.60 15.06 3.09 11.74 12.51* 5.46
18% 26.6% 5.2% 20% 21% 9.3%
18.43% 10% 13.8% 16% 11.7% 9.6%
19.33% 9% 12% 26% 17%* 25%
FY14 Revenue (Rs Bn)
Revenue Contribution%
FY10-14 Rev CAGR%
FY14 EBITDA Margin%
Rs 59 Bn Turnover and Blended Margin @ 17.90%
Note :* includes Infra revenue of Rs 3.40 bln at EBITDA of 7%
2
Strong Growth Opportunity on the Back of Significant Mass (Low Cost) Housing Demand
Prefab High Growth, High Return
Business
Pioneer in India
Pioneered Prefab Segment in India
Comprises 20% of FY14 consolidated Sintex revenues
Growth of 21% FY14
Highest ever EBITDA margin of 26% in FY14
Product Range: Healthcare centres , schools & public
administration buildings, Project & site offices, Residential units for
Sintex Positioning
High return segment
Capex required is low
Robust cash flows & margins
Quick turnaround and low cost
Five production facilities, each in
North, South, East, West and Central parts of India; one
5.6
6.5
7.2
9.7
11.7
16.7%
19.8%
17.0%
19.0%
26.0%
FY10 FY11 FY12 FY13 FY14
Segment Revenue (Rs Bn) EBITDA Margin (%)
administration buildings, Project & site offices, Residential units for
long-gestation projects, Sanitation, Shelters for defense
Huge CSR opportunity to leverage in private sector for
education, healthcare, sanitation and environmental products
North, South, East, West and Central parts of India; one
under construction
Does not need any regular maintenance spend
Pan-India Presence
Product approval from several state governments
Wide dealer distribution network
Small project size, less immune to slowdown
3
Launched innovative Do-it-Yourself- Kit through innovative
distribution, received overwhelming response
Emerging alternative for weekend homes and new shelters
with complete package for waste management and bio gas
products
Globally prefabs is 10-15% of construction industry, India
the numbers are just scratching the surface
Long term potential
High potential opportunity
10
20
30
40
50
60
70
80
23
53
9
12
62
31
6
4
Housing
Education
Drinking water n
Sanitation
Healthcare
US $ 64 bln spend in 2012 will grow to US $ 136 bln by 2022
as per Mckinsey estimates
Indias cold storage infrastructure is inadequate
232
128
6
Indias perishable products mn
tonnes per annum
0.27
0.26
0.3
0.09
Japan
Germany
Brazil
India
Refrigerated warehouse capacity per
capita in cubic meters
%
4
0
2012 2022
Healthcare spending needs to grow at 18% pa to fulfil target of density
for hospitals beds and healthcare workers across rural and urban
SSA scheme is US $ 11 bln FY13-14 of which 1/3
rd
is earmarked for
classroom infrastructure
Requirement of one million primary classrooms and 0.28 million
secondary classrooms by 2022 for 100% urban and over 75%
penetration in rural areas for a ratio of over 30 students to a teacher.
65-70% or 600 mn people in rural households still have poor or no
access to toilets
Huge CSR opportunity to leverage in private sector for
education, healthcare, sanitation and environmental products
Fruits &
Veg
Milk Meat
6
0.35
0.27
US
Japan
India loses 10 to 20% of perishable products due to inadequate
warehousing and cold storage infrastructure
Annually 20% of Banana produced, 10% of Oranges and 17% of potato
production are wasted due to inadequate infrastructure. According to
National Horticultural Board 90% fruits and vegetables India produces
have no storage facilities
The losses are either borne by the farmers or the middlemen which
results in increased prices at the consumer end
Opening up of retail sector and emphasis on wastage reduction will drive
the segment for cold storage and warehousing for prefabs.
Source: Source mckinsey global institute From poverty to empowerment report..
Business Overview
Early entrant in monolithic concrete construction in India (2005)
Leading Indian player
Revenue contribution of 21% (FY14)
EBITDA contribution of 16.5% (FY14)
Offers holistic solutions comprising engineering, designing, drawing
and manufacturing
Deleveraged the business over last 2 years
Monolithic Leading the Change
Select Key Customers
Lucknow Development
Authority
and manufacturing
Unlocked significant working capital in FY14
4.5
7,2
13.4
10.8
12.5
19.3%
21.1%
18.3%
18.0%
17%*
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
0
50
100
150
200
250
300
350
400
FY10 FY11 FY12 FY13 FY14
Segment Revenue (Rs Bn) EBITDA Margin (%)
Puducherry Slum
Clearance Board
Amdavad Municipal
Corporation
5
Note : Segment Revenue Includes Rs 3.34 bln of Infra at EBITDA of 7%
Operational Highlights
Executing the single largest township development project in Delhi
(600 units)
Successfully forayed into new geographies - Pondicherry, parts of
Rajasthan and Uttar Pradesh
Moving up the value chain in the monolithic segment by undertaking
housing projects for MIG and HIG
Increasing exposure from housing boards, defense, police and private
sector
Well-positioned to Capitalize on the Market Opportunity
Demand-Supply Dynamics of Housing for Various Income Groups
(1)
9,000
10,000
45%
50%
Share of Demand Share of Supply
Affordable Capital Value (Min) Affordable Capital Value (Max)
(
S
h
a
r
e

o
f

D
e
m
a
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d
/
S
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C
o
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o
f

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i
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(
I
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0
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0
)
High demand-supply gap
for residential units
High demand-supply gap
for residential units
Monolithic Significant Value Potential
(Zero maintenance, Project time, Eco-friendly, Low dead Weight with Better Finish and Strength)
sector
Increasing business volume by undertaking G + 7/G+13 housing projects
against G +4 projects built earlier
Dualtech houses comprising of monolithic concrete walls and new
generation roofing facilitates tapered roof houses of the highest quality
Market Opportunity
Demand considerably higher than industry capacity
(1)
Significant unmet demand - total housing shortage estimated to be c.
27mn houses by 2012-end
(1)
Over 99% to be in EWS and LIG segments
Largest shortage for EWS and LIG homes in the world
Monolithic concrete construction ideal for mass housing
Source: (1) Affordable Housing in India, 2012 by Jones Lang LaSalle
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
0%
5%
10%
15%
20%
25%
30%
35%
40%
200,000-
300,000
300,001-
500,000
500,001-
700,000
700,001-
1,000,000
> 1,000,0000
(
S
h
a
r
e

o
f

D
e
m
a
n
d
/
S
u
p
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l
y
)
C
o
s
t

o
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U
n
i
t

(
I
N
R

0
0
0
)
for residential units for residential units
6
Wide Presence And Access To Marquee Clients To Drive Future Growth
Custom Moulding Differentiated Play
Well Poised to Capture Significant Growth
Integrated operations
from
fabrication, assembly,
prototyping and R&D
Synergy across
regions and products
1
2
Global delivery from
India - Already started
with clients like
Schneider
Servicing well-known
customers within
each sector
1
2
B2B business with
Fortune 500
companies Diversified presence
across sectors.
reduces the
dependence on few
segments
3
4
5
Synergies driving
growth
Sintex
Positioning
Continued shift
towards composite
- Cost effective
- Zero maintenance
Leverage customer
relationships, technol
ogy, Processes
Growing consumption
of composites globally
Future
Growth Drivers
3
4
5
7
Custom Moulding Diversified Play
Business Overview
Wide International Presence Geographically Diversified
Growth Strategy
Revenue contribution of 44% (FY14)
Wide product portfolio catering to automotive, electrical , Aerospace &
Defense, Mass Transit, Medical Imaging, Industrial trucks & tractors and
retail segments
Ability to manufacture customized components
High brand recall and acceptability throughout India
Locational advantage presence in four continents and nine countries with
Sintex has made various domestic and overseas acquisitions, to acquire
technologies and gain access into new markets
Strategic direction is provided by Sintex, while operations managed by pre-
acquisition teams
Achieved significant improvement in the performance of the acquired cos.
Integrating high capability international operations with low cost Indian
base
16.5
20.7
21.6
23.6
25.6
14.2%
14.7%
14.3%
12%
13.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
0
100
200
300
400
500
600
700
FY10 FY11 FY12 FY13 FY14
Segment Revenue (Rs Bn) EBITDA Margin (%)
Locational advantage presence in four continents and nine countries with
low-cost manufacturing base
Growing high margin India business
Opportunities to cross-sell successfully converted key clients
8
59%
41%
FY14
India
63%
37%
FY10
Overseas
11.8 11.8
11.2
12.9
15.06
Measures for Driving Synergy Benefits
Bought 8 companies in the Custom Moulding segment between FY08 &
FY09 for technology and client acquisitions
The acquisition targets themselves were turned around by Sintex and have
witnessed strong growth and margin expansion
Acquisition Strategy has resulted in healthy growth and leveraging synergies
Acquisition Strategy
Shifted manufacturing
to low cost
Pre-acq: France was key manufacturing hub
Present: Manufacturing has also spread to low
Global CM has Seen Robust Revenue Growth
Successful Acquisitions (Custom Moulding)
CY10 CY11 CY12 CY13 CY14
Revenue (Rs Bn)
5.5
6.8
8.2
10.6 10.6
FY10 FY11 FY12 FY13 FY14
Revenue (Rs bn)
to low cost
Present: Manufacturing has also spread to low
cost destinations such as Hungary and Slovakia
Reduced dependence on
auto sector
Pre-acq: Majorly auto business
Present: Diversified with Aerospace & Defense
Transferred low value
products to India
Low value added product now made in India
Nief focusing on manufacturing high value
products, leading to margin improvement in
both India & Europe
Global cross-selling
Currently pulling clients from Europe to India
Future plan to work internally for multinational
clients in India
India Custom Molding revenue
9
Diversifying Application base like Electrical, Medical, Aerospace etc
Diversifying Manufacturing Processes like Compression, 3D Blow
molding, 2K Molding, Machine Shaping and Material science like
Liquid silicon rubber, BMC, SMC and DMC etc.
Acquire customers like Faurecia, Schneider, Areva, ABB, JCI, Legrand
Gain foothold in Mass Transit, Off Road Vehicles and Wind Turbine
segment
1
st
plant in Pune with Wausaukee technology to commence shortly
Bright to gain through Syngergies with Nief and Wasaukee
Custom Molding Products Portfolio Custom Molding Products Portfolio
10
Aerospace & Defense, Automotive, Electricals, Medical imaging, Mass Transit, Industrial truck n tractors, Wind energy
Electrical
legrand
Marquee Global Clientele Driving Cross-border
Synergies
Auto
Consumer
11
35 Plants Spread Across 9 Countries and 4 Continents
USA
Wausaukee
Gillett
Cuba city
Owosso
Wisconsin
Michigan
Leveraging Global Manufacturing Bases
Kalol
Baddi
Salem
Nagpur
Daman
Bhachau
Chennai
Bangalore
Pune
Nasik
Gurgaon
Kolkata
12
Tunisia
Morocco
SEGA Plast
NIEF Plastic
SICMO
NP Savoie
AIP
NP Nord
NP Vosges
SIMOP
Poland
Germany
Thermodole
Slovakia
Hungary
Prefab Custom Moulding Monolithic Textile
Growth
Drivers
Increasing Govt. spending
on
rural infrastructure,
education,
health, sanitation and
defence
Private sector capex cycle
for worker shelters, infra
projects
Shift towards composites
from metals
Operational efficiency with
weight reduction
Weather resistant
Chemically inert and high
electrical insulation
Higher spending by the
Government on mass
housing projects to meet
huge shortage (>50mn
houses)
Participation with private
sector
Slum rehabilitation
Differentiated high quality
products
Low fixed cost of operation
Clients include Armani, Burberry,
Zara, Marco Polo, etc.
Logistics edge due to
factories across India
Clientele includes several
Fortune 500 companies
Faster implementation
Cost competitive
Focus more on quality than
volume
Sintex - Future Growth Drivers
Competitive
Advantage
factories across India
Wide product portfolio
Ability to service diverse
market segments
Fortune 500 companies
Better technology
Penetration among OEMs
Servicing 4 continents
Low-cost manufacturing
Cost competitive
volume
Relationship with leading fashion
houses
Flexibility to cater to small
volumes as well as bulk orders
Near-term
Strategy
Warehousing and agri-
shed products fast
growing categories
Geographic expansion in
remaining states & difficult
terrain
New products evolving Do-
it-Yourself Kits and
gradually vacation homes
Leveraging acquisition
related synergies by
servicing global clients
from India
Increase India Pie in
custom molding
Immediate concentration
towards business from
pedigreed clients and short
payment cycles
Bidding for larger projects
Joint development model
Enlarge customer base
Continue to maintain niche
product strengths
13
Robust Financials
Rapid Growth in Revenue and Stable EBITDA Margin PAT
(1)
margin of over 5% over the last 4 years
33
44 44
52
59
16.4%
18.3%
16.2% 16.2%
16.7%
0.0%
5.0%
10.0%
15.0%
20.0%
0
10
20
30
40
50
60
70
FY10 FY11 FY12 FY13 FY14
3.3
4.6
3.1 3.2
3.6
10.0%
10.2%
6.8%
6.4% 6.3%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
0
1
2
3
4
5
FY10 FY11 FY12 FY13 FY14
Financials Metrics
15%
20%
13%
12%
12%
0%
5%
10%
15%
20%
25%
FY10 FY11 FY12 FY13 FY14
ROCE
ROCE
Higher RoCE
(1)
in the Growing Plastics Segment Comfortable Net Debt to Equity Ratio
FY10 FY11 FY12 FY13 FY14
Consolidated Revenue (Rsbln) EBITDA Margin (%)
FY10 FY11 FY12 FY13 FY14
Consolidated PAT (Rs bln) PAT Margin (%)
0.87
0.74
0.90
0.86
1.12
0.5
0.6
0.7
0.8
0.9
1.0
1.1
1.2
FY10 FY11 FY12 FY13 FY14
Net Debt/Equity (x)
Note: (1) The fall in PAT in FY12 is largely due a decrease in revenues from the Government, particularly from Monolithic business, the Eurozone Crisis and Rupee depreciation
against US$; (2) RoCE = Profit from operations before other income, finance cost & exceptional items (divided by) Capital Employed 15
Experienced Senior Management
Amit D. Patel
Group
Managing Director
Rahul A. Patel
Group
Managing Director
S. B. Dgangayach
Managing Director
Sunil K. Kanojia
Group CEO
L. M. Rathod
Group CFO
Bachelors degree
in Commerce
MT from the USA
19 years of
experience in
textiles, chemicals
and plastics
Bachelors degree
in Communications
MBA from USA
More than 25
years experience
in the textile and
plastic industries
B.Sc. (Hons)
MBA from IIM
Ahmedabad
3 decades of
experience in
plastics
Graduate in
Engineering and
MBA from IIM
Ahmedabad
28 years of
domestic and
international
experience in
multiple industries
Graduate in
Commerce and
law, MBA and FCS
Manages corporate
finance, company
law and Taxation
16
Gilles Nief
President CEO
Nief Plastic SAS, France
Edward Trueman
President CEO
Wausaukee Composites
Inc., USA
BB Sharma
CEO, Textile Projects,
Sanjib Roy
CEO, Plastics
Gagandeep Singh
CEO
Bright AutoPlast
Ltd., India
Indru G Advani
Director
Bright AutoPlast
Ltd., India
Senior Leadership for key businesses
17
Graduated from
IAE University at
Lyon
Managed family
business since
1973
President of
Regional French
Plastic Industry
BS in Economics from
Michigan University and
active member of
Society of Plastic
Engineers.
30 years of Executive
Leadership in polymer
manufacturing, bio fiber
composites and clean
base material
compounding
Worked with JER
Envirotech as President
and CEO
Inc., USA
B Tech in Textiles &
MBA
Over 37 years in
experience in
textile companies
like Arvind
Mills, Morarjee
Textile, Welspun
India.
Bachelor of
Engineering and MBA
Extensive experience
in the field of
marketing
Graduate in
Mechanical
Engineering & MBA
25 years of Industrial
experience with 10
years in Automotives
Speciality in
multicultural JV
organisations across
the Globe
Ltd., India
Mechanical Engineer
and Management
Graduate
Managing Bright
Brothers Auto Plastic
business since 1970
Ltd., India
Vision
Going Forward Going Forward
Sintex aims to be Global market leader across its product range Sintex aims to be Global market leader across its product range
and strive to achieve USD2 Billion Top line by and strive to achieve USD2 Billion Top line by 2015 2015- -16 16
Strategy
Focus on sectors of economic development Focus on sectors of economic development
Pursue both Organic and In organic growth opportunities Pursue both Organic and In organic growth opportunities
Follow Technology and Global clients across the world Follow Technology and Global clients across the world
18
THANK YOU