Meghmani Organics Limited

(MOL)
Q3 FY17 Investor Presentation
February 2017

1
9MFY17 sees MOL growth story continue
Despite a relatively weaker Q3, 9MFY17 growth on track

De-risked business Model Revenue

Pigments Robust revenue
model diversified Up 8% YoY, driven by
Agrochemicals
Basic Chemicals
across Products &
Geographies
Rs 10,520 mn strong growth in
Pigments &
Agrochemicals

Wide Global Customer base EBITDA

Up 13% YoY,
400+ Across 75
countries Rs 2,150 mn EBITDA Margin at
20.4%

Registrations Profit after Tax

Poised for higher
growth with new
Exports &
CIB: 691
registrations;
Export contribution
Rs 640 mn Up 11% YoY,
PAT Margin at 6.1%
at 50%
Note: Above figures are for 9MFY17
2
Contents

Section 1 Q3FY17 Performance

Section 2 9MFY17 Performance

Section 3 Company Overview

Section 4 Annexure

3
Q3FY17: Revenue remains stable; transient impact on margins . . .
Consolidated, Figures in Rs mn

Revenue EBITDA / Margin PAT / Margin

4,500

4,000

3,168 3,153 800

754 350 10%

277
3,500

25%
3,000
700 606 300
9%

8%

2,500
600
23.8% 20% 250 8.8% 200 7%

500 6%
2,000
19.2% 15% 200

1,500
400
150 6.3% 5%

4%
300 10%
3%
1,000
200 100
5% 2%
500
100 50
1%

- - 0% - 0%

Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17

EBITDA Margin PAT PAT Margin

Revenue stable at Rs 3,153 mn as domestic revenue declines marginally while exports remain stable. Exports
contributing 54% to revenue
EBITDA declines as segmental profitability witnesses transient decline
Interest outflow down 10% to Rs 128 mn compared to Rs 142 mn in Q3FY16 with reduced debt
PAT down at Rs 200 mn; PAT margin at 6.3%

4
Pigments: Strong exports offset by lull in domestic & intersegment sales
Consolidated, Figures in Rs mn

Revenue Dispatch/Sales (in MT) Production/Utilization EBITDA/Margin

1,400 3,600 6,000 90%
350 30%

1,179 3,356 3,273 5,466

1,115 3,400
5,500
80%
300
1,200

3,200
5,030 70%
254 25%

1,000 5,000 250

3,000 70% 60%
22% 195 20%

800 4,500 65% 200

50%
2,800 15%

600
2,600
4,000 40%
150 17%
9% YoY 30% 10%
400 3,500 100
2,400
20%
5%
200 2,200 3,000 50
10%

- 2,000 2,500 0% - 0%

Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17

Production (MT) Utilization EBITDA EBITDA Margin

Note: Including intersegment data, excluding Excise duty

Revenue down 5% YoY at Rs 1,115 mn, impacted mainly by subdued domestic market
Strong Exports growth of 9% YoY partially offsets the decline. Exports contribution at 73%; marginally
higher than Q3FY16
Total Dispatch/Sales marginally lower by 2% YoY and blended realization also marginally down
EBITDA declined 23% YoY to Rs 195 mn in Q3FY17 on account of lower Sales Realization and increased raw
material cost; EBITDA margin at 17%, in line with target
Utilization increased to 70% compared to 65% in Q3FY16, Production up 9% YoY

5
Agrochemicals: Volumes up 26%, realisations impact margins
Consolidated, Figures in Rs mn
Revenue Dispatch/Sales (in MT) Production/Utilization EBITDA/Margin
1,050 4,500 90%
986 3,592 3,844
200

1,000
951 4,000 80%
180 22%

950
2,856
3,500
2,894
160
70%
136 17%
900 140
3,000 60%

120
850 2,500 50%

800
56% 57% 100
14%
12%

2,000 40%
80
4% YoY 26% YoY
750 1,500
33% YoY 30%
60
51 7%

700 1,000 20%

40

650 500 10%

5% 2%

20

600 - 0% - -3%

Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17

Production (MT) Utilization EBITDA EBITDA Margin

Note: Including intersegment data, excluding Excise duty

Revenue up 4% driven by 28% growth in the domestic market which more than offset the decline in exports
Domestic market now contributes 36% to revenues compared to 29% in Q3FY16
Dispatch/Sales witnessed robust growth of 26%, however realizations declined due to pricing pressure and
change in product mix
EBITDA down 63% due to lower realisations at Rs 51 mn; EBITDA Margin at 5%
Utilization increased marginally to 57% even with higher capacity, Production up 33% YoY
Overall production capacity increased 32% from 20,520 MT in Q3FY16 to 27,180 MT in Q3FY17

6
Basic Chemicals posts EBITDA Margin of 36%, above guidance
Consolidated, Figures in Rs mn

Revenue Dispatch/Sales (in MT) Production/Utilization EBITDA/Margin

1,200 50,000 120% 450 43%

1,011 975 45,000

404
1,000 41,000 37,190 40,000
37,546 35,483
100% 400
353
36,000
34,086 350
40%
38%

35,000
800 80%
31,000 30,000 90% 36% 33%
300
600 26,000 25,000 76% 60%

21,000 250
20,000 28%
400 40%
16,000 15,000
200

11,000 10,000 23%

200 20%
150
6,000 5,000

- 1,000 - 0% 100 18%

Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17

Production (MT) Utilization EBITDA EBITDA Margin

Note: Including intersegment data, excluding Excise duty

Revenue down 4% YoY to reach Rs 975 mn on account of lower volumes

EBITDA down 13% YoY to reach Rs 353 mn due to lower revenue and lower utilisation
EBITDA margin at 36%, above the guided range of 30%-35%
Production and utilisation down on account of temporary shutdown in the production plants of certain
customers
Overall production capacity up from 1,66,600 MT in Q3FY16 to 1,87,600 MT in Q3FY17

7
Exports contribute 54% to revenues

Q3 FY16 Q3 FY17

Exports Exports
Domestic 54% Domestic 54%
46% 46%

Consolidated, Figures in Rs mn

Segmental breakdown Domestic business declined marginally

Q3 FY16 Q3 FY17 by 1% as growth in Agrochemicals
Revenue almost offset the decline in
Exports Domestic Total Exports Domestic Total Basic Chemicals revenue. Pigments
Pigments 707 282 989 770 281 1,051 revenue was stable.
Agrochemicals 675 276 951 634 352 986
Basic
Exports were stable as growth in
33 904 937 74 816 890 Pigments offset the decline in
Chemicals
Agrochemicals.
Others 289 1 291 227 0 227
Total 1,705 1,463 3,168 1,704 1,449 3,153

8
Contents

Section 1 Q3FY17 Performance

Section 2 9MFY17 Performance

Section 3 Company Overview

Section 4 Annexure

9
9MFY17: Delivers steady and profitable growth
Consolidated, Figures in Rs mn

Revenue EBITDA / Margin PAT bef Minority PAT* / Margin

700 6%
2,500
2,150
22% 1,000

876
12,000

9,753 10,520 1,897

900

757 650
640
20% 6%
10,000
2,000 800

20.4% 700
578
8,000 19.4% 18% 600
1,500 600

6.1% 6%

16% 500 550

6,000

8% YoY
1,000
13% YoY 14%
400

500 5.9% 11% YoY

6%

4,000
300 16% YoY
500 200 6%
2,000 12% 450
100

-
- 10% - 400 5%

9M FY16 9M FY17 9M FY16 9M FY17 9M FY16 9M FY17 9M FY16 9M FY17

EBITDA Margin PAT PAT Margin

*Includes Exceptional loss of Rs 24 mn

Revenue up 8% YoY driven by robust 17% YoY growth in domestic markets which contributed 50% of 9MFY17
revenue compared to 45% in 9MFY16
Exports Revenue stable, contributed 50% of 9MFY17 revenue
EBITDA up 13% YoY to reach Rs 2,150 mn; EBITDA margin increased from 19.4% in 9MFY16 to 20.4% in 9MFY17
Other expenses as % of revenue down from 23.0% to 19.5% in 9MFY17
PBT after exceptional up 15% YoY at Rs 1,177 mn on account of lower interest outflow with reduced debt
Depreciation up 18% on account of commencement of new Caustic Potash facility
Exceptional item for Q2FY17 on account of estimated loss due to Beta blue plant fire at Rs 24 mn
PAT up 11% to reach Rs 640 mn; PAT margin up at 6.1% in 9MFY17 from 5.9% in 9MFY16
Minority interest for the period at Rs 236 mn compared to Rs 179 mn in 9MFY16
10
Pigments report robust growth in 9M profitability
Consolidated, Figures in Rs mn

Revenue Dispatch/Sales (in MT) Production/Utilization EBITDA/Margin

4,000

3,418 3,669 12,000

18,000 80%
700
614 30%

3,500

9,558 10,146 16,000

14,335 14,415 70%
600 25%

3,000
10,000 14,000
60%
500
460
2,500
8,000
12,000
61% 62% 50%
20%

10,000 400
2,000 40% 15%

1,500
6,000
8,000 300
30%
17%
7% YoY 6% YoY 6,000 1% YoY 33% YoY
1,000
4,000
200
20%
13% 10%

4,000
2,000 5%
500 100
10%
2,000

- - - 0% - 0%

9M FY16 9M FY17 9M FY16 9M FY17 9M FY16 9M FY17 9M FY16 9M FY17

Production (MT) Utilization EBITDA EBITDA Margin

Note: Including intersegment data, excluding Excise duty

Revenue up 7% driven by robust performance in domestic markets
Domestic Revenue up 53% YoY and contributed 34% of Pigments 9MFY17 revenue compared to 26% in
9MFY16
Exports Revenue up 3% - contributed 66% of Pigments 9MFY17 revenue
Dispatch/Sales up 6% coupled with marginally higher realization
EBITDA up 33% YoY at Rs 614 mn in the period due to lower input costs, lower Other Expenses (non-recurring
items)
EBITDA margin increased from 13% in 9MFY16 to 17% in 9MFY17
Utilization increased marginally to 62%

11
Agrochemicals deliver robust volumes driving revenues, margins impacted
Consolidated, Figures in Rs mn

Revenue Dispatch/Sales (in MT) Production/Utilization EBITDA/Margin

4,100
3,744 16,000 100%
600

3,600
3,255
15,000

12,777 14,000
12,644 90%

500
482 23%

13,000 80%

3,100
9,369
12,000
10,220 18%
11,000
10,000
70%
400 358
60%
2,600 9,000
66% 62%
13%

2,100
7,000
8,000 50%
300 15%
40%
15% YoY 5,000 36% YoY 6,000 8%
1,600
24% YoY 200
30% 10%
4,000
3,000
20%
3%
1,100 100
1,000 2,000
10%

600 -1,000 - 0% - -2%

9M FY16 9M FY17 9M FY16 9M FY17

9M FY16 9M FY17 9M FY16 9M FY17
Production (MT) Utilization EBITDA EBITDA Margin
Note: Including intersegment data, excluding Excise duty

Revenue up 15% driven by strong growth of 42% in Domestic and 3% in Exports markets
Domestic contribution up at 39% from 32% in 9MFY16, Exports contribution at 61%
Dispatch/Sales witnessed robust growth of 36%, however, realizations declined due to change in product
mix to match demand in the market
EBITDA declined 26% due to increase in input costs, lower realizations, change in product mix to reach Rs 358
mn; EBITDA Margin at 10% in 9MFY17
Strong growth in production, up 24% to reach 12,644 MT
Utilisation level down from 66% to 62% on account of increased production capacity (up from 20,520 MT to
27,180 MT)

12
Basic Chemicals: 9M EBITDA margin reaches 38%, above guided range
Consolidated, Figures in Rs mn
Revenue Dispatch/Sales (in MT) Production/Utilization EBITDA/Margin
3,500
1,111
2,912 2,931 1,120 46%

3,000
1,21,000

1,07,062 1,02,395 1,20,000 1,10,663 1,06,747 100% 1,100

44%

1,01,000 1,080
2,500 1,00,000 42%
80%

81,000
89% 1,060

40%
2,000 80,000 1,040
76% 60%

1,500
1% YoY
61,000
60,000
1,020
996 11% YoY
38%

1,000 41,000
40,000
40%
1,000

980
38% 36%

34%
20% 960
500 21,000 20,000
940 34% 32%

- 1,000 - 0% 920 30%

9M FY16 9M FY17 9M FY16 9M FY17 9M FY16 9M FY17 9M FY16 9M FY17

Production (MT) Utilization EBITDA EBITDA Margin

Note: Including intersegment data, excluding Excise duty

Revenue marginally up at Rs 2,931 mn

Dispatch/Sales down as plant was intermittently stopped due to synchronisation process of Caustic Potash
facility
EBITDA up 11% YoY to reach Rs 1,111 mn resulting in increase of 369 bps in EBITDA Margin from 34% to 38%
Production and Utilisation lower due to ramp up at new Caustic Potash plant and lower Caustic Soda
production due to synchronization process and temporary shut down at Customers production plant

13
Domestic market up 17%, revenue share at 50%

9M FY16 9M FY17

Exports
Exports 50%
Domestic
55% Domestic
45%
50%

Consolidated, Figures in Rs mn

Segmental breakdown Domestic market witnessed 17% increase

9M FY16 9M FY17 in 9MFY17 driven by robust 53% and 42%
growth in Pigments and Agrochemicals,
Exports Domestic Total Exports Domestic Total respectively. Basic Chemicals, which is a
Pigments 2,209 774 2,982 2,277 1,184 3,461 pure domestic play, was down 3%.
Agrochemicals 2,214 1,041 3,255 2,271 1,473 3,744
Basic
Exports revenue was stable in the period,
68 2,615 2,683 144 2,545 2,689 wherein growth in Agrochemicals &
Chemicals
Others 828 5 834 620 6 626
Pigments offset the decline in Others.
Total 5,319 4,435 9,753 5,312 5,208 10,520

14
Contents

Section 1 Q3FY17 Performance

Section 2 9MFY17 Performance

Section 3 Company Overview

Section 4 Annexure

15
Meghmani Organics Ltd a leading high growth chemical company
Diversified across products and geographies - servicing 400+ marquee clients in 75 countries

~7% global market share; among top 3 global blue

Leading global pigments players
player in ~72% revenue from exports, mainly from North America
phthalocyanine Long term client relationships with 90% business from
repeat clients
pigments industry Contributed 33% to net sales in FY16
CPC Blue, Pigment Green, Pigment Blue

Wide range of bulk & branded products - Megastar,

Agrochemicals: Megacyper, Megaban, Synergy
Competitive advantage via 691 export & CIB
Products across the registrations
entire value chain Working on building Pan India presence with
optimising sales distribution network
Intermediate, Technical Grade & ~69% revenue from exports; mainly from LatAm
Formulations Contributed 31% to net sales in FY16

4th largest Caustic-Chlorine capacity in India

Basic Chemicals: Latest 4th generation membrane cell technology
imported from Asahi Kasei, Japan
Robust growth with Strategically located facility at Dahej proximity to raw
expansion into material and customers
Caustic Potash 5-year CAGR of ~18% ; contributing 28% to net sales in
Caustic-Chlorine; expanded into FY16
Caustic Potash
16
Vertically integrated facilities across all businesses

Pigment Blue
CPC Blue
Pigment Green

Upstream product: Sold to other End products: Sold to industrial users i.e.
pigments manufacturers inks, paint and plastic manufacturers
Pigments

Pesticide Intermediates Sold to technical grade pesticides manufacturers

Technical Grade Pesticides Sold to pesticides formulators

Sold to institutional
Bulk Packing customers
Pesticide Formulations
Sold to retailers,
Brand Business dealers and directly to
Agrochemicals farmer societies

Caustic-Chlorine Plant
60 MW Power
Plant
Caustic-Potash Plant

Power is a major raw material to End products: Sold to industrial users i.e. pharmaceutical,
manufacture Basic Chemicals soap, detergent, PVC, chemical and textile manufacturers
Basic Chemicals
17
High growth historically with a 5 year PAT CAGR of 17%
Consolidated, Figures in Rs mn

Net Sales and Growth EBITDA and EBITDA Margin

11.2% EBITDA EBITDA Margin

9.6% 21.5%
5.5% 3500 22.5%
2.0% -0.5% 17.8% 2,869
12,678 13,370 16.9% 16.0%
11,569
3000
15.1% 17.5%

10,450 10,402 2500 1,959

1,852 2,031
12.5%
2000
1,582
1500
7.5%

1000

2.5%
500

0 -2.5%

FY12 FY13 FY14 FY15 FY16 FY12 FY13 FY14 FY15 FY16

PAT and PAT Margin Debt Equity Ratio

1100 6.2% 6.5%
PAT PAT Margin 1.6
826 1.5
900
5.5%
1.4
4.5% 1.2
700 3.5%
3.5% 0.9
439
500
1.7% 2.0% 2.5%

228
300
0.3% 172 1.5%

100 35 0.5%

-100 -0.5%
FY12 FY13 FY14 FY15 FY16 FY12 FY13 FY14 FY15 FY16

Note: All figures are as per previously applicable Indian GAAP

18
Margin expansion due to better product mix and increase in utilisation
Consolidated, Figures in Rs mn

Segment-wise Sales

4,667 FY15 FY16

4,380 4,477
4,244
3,987
10% YoY 2% YoY 13% YoY
3,518

Pigments Agrochemicals Basic Chemicals

Increase in capacity utilisation Higher EBITDA Margin

FY15 FY16 Pigments Agrochemicals Basic Chemicals
93% 88%
38.2%
68% 31.3%
63% 60%
51%
16.5%
13.2%
13.7%
10.1%

Pigments Agrochemicals Basic chemicals FY15 FY16

Note: Includes intersegment data & all figures are as per previously applicable Indian GAAP

19
Journey of growth. . .

2016
2013-14
Expansion
2009 New
into
2007 Started Pigment
Caustic
2004 India listing production plant at
Potash
1999 Acquired & in MFL & 2 Dahej SEZ
1997 Started Agro established new sites &
1996 MFL with IFC for Agro- Expansion
Private Blue assets
1995 chemical at of Caustic-
New Equity Pigment from Rallis participation
1986 Panoli and Chlorine
Converted Pigment investment production and
Dahej facility
Started into a Public plant setup in MOL at Panoli Singapore
operations Ltd. Co, at Panoli plant listing
setup 1st
Agro plant

20
Robust plan for next phase of growth
Strategic Operational and Financial plan for growth and higher margins

Pigments Sweating the Capacity

Installed capacity to
Higher focus on Domestic market Rs 5.6bn spent over
last 5 years to increase clock revenue of Rs
Focus on untapped exports market
capacity 20bn by FY19
Expand Value added product offerings

Agrochemicals Deleveraging
Increase branded revenue; expand distribution DE Ratio reduced Plan to reduce
network from 1.6x in FY12 debt by Rs
Enter new geographies via new registration to 0.9x in FY16 1.8bn by FY18

Higher Margins
Basic Chemicals
PAT margins improved Better product mix, de-
New caustic potash plant leveraging, capacity
from 0.3% in FY12 to
Process optimisation sweating will lead to
6.2% in FY16 margin expansion

Significant uptick in return ratios (ROE/ROCE)

21
Contents

Section 1 Q3FY17 Performance

Section 2 9MFY17 Performance

Section 3 Company Overview

Section 4 Annexure

22
P&L statement (Consolidated): Q3FY17
Figures in Rs Million
Particulars Q3 FY17 Q3 FY16 YoY (%) Q2 FY17 QoQ (%) 9MFY17 9MFY16 YoY (%)
Net sales / income from operations 3,153 3,168 0% 3,821 -17% 10,520 9,753 8%
Excise Duty on Sales 307 268 15% 270 14% 899 895 0%
Other Operating Income 56 35 60% 59 -4% 174 145 20%
Total Income from Operations 3,516 3,471 1% 4,150 -15% 11,593 10,794 7%
Total Expenditure 2,910 2,718 7% 3,355 -13% 9,443 8,897 6%
Consumption of Raw Material 1,723 1,615 7% 2,268 -24% 6,008 5,318 13%
Personnel Cost 157 151 4% 175 -10% 489 438 12%
Other Expenditure 722 683 6% 642 12% 2,047 2,245 -9%
Excise Duty 307 268 15% 270 14% 899 895 0%
EBITDA 606 754 -20% 795 -24% 2,150 1,897 13%
Depreciation & Amortisation 190 193 -1% 239 -21% 683 577 18%
EBIT 416 561 -26% 555 -25% 1,467 1,320 11%
Interest & Finance Charges 128 142 -10% 133 -4% 404 508 -20%
Other Income 74 15 387% 14 429% 138 214 -35%
PBT before exceptional items 363 434 -16% 436 -17% 1,200 1,026 17%
Exceptional items - NM 24 NM 24 - NM
PBT 363 434 -16% 413 -12% 1,177 1,026 15%
Tax Expense 92 50 81% 88 5% 301 268 12%
PAT (From ordinary activities) 271 384 -29% 325 -17% 876 757 16%
Extraordinary items - - NM - NM - - NM
PAT 271 384 -29% 325 -17% 876 757 16%
Minority Expense 72 106 -33% 73 -3% 236 179 32%
PAT after Minority 200 277 -28% 252 -21% 640 578 11%
Key Ratios as a % of Total Revenue Q3 FY17 Q3 FY16 Q2 FY17 9MFY17 9MFY16
EBITDA 19.2% 23.8% 20.8% 20.4% 19.4%
PAT 6.3% 8.8% 6.6% 6.1% 5.9%
Total Expenditure 82.6% 77.3% 80.7% 81.2% 82.0%
Raw material 55% 51% 59% 57.1% 54.5%
Employee Cost 5.0% 4.8% 4.6% 4.7% 4.5%
Other Expenditure 22.9% 21.6% 16.8% 19.5% 23.0%
Note Exceptional item is loss due to fire at Beta blue plant in Aug 2016, Ratios as % of revenue is calculated based on Net Sales
from Operations
23
P&L Statement (Standalone): Q3FY17
Figures in Rs Million
Particulars Q3 FY17 Q3 FY16 YoY (%) Q2 FY17 QoQ (%) 9MFY17 9MFY16 YoY (%)
Net sales / income from operations 2,214 2,242 -1% 2,788 -21% 7,688 6,822 13%
Excise Duty on Sales 179 142 26% 142 26% 526 527 0%
Other Operating Income 56 35 60% 59 -5% 173 145 20%
Total Income from Operations 2,450 2,419 1% 2,989 -18% 8,388 7,494 12%
Total Expenditure 2,203 2,103 5% 2,578 -15% 7,411 6,682 11%
Consumption of Raw Material 1,326 1,235 7% 1,803 -26% 4,889 4,018 22%
Personnel Cost 120 112 7% 132 -9% 368 328 12%
Other Expenditure 578 613 -6% 500 15% 1,628 1,807 -10%
Excise Duty 179 143 26% 142 26% 526 528 0%
EBITDA 247 316 -22% 410 -40% 976 812 20%
Depreciation & Amortisation 97 91 7% 95 2% 289 272 6%
EBIT 149 225 -34% 315 -53% 687 541 27%
Interest & Finance Charges 90 125 -28% 89 1% 281 332 -15%
Other Income 74 38 93% 1 NM 119 207 -43%
PBT before exceptional items 133 139 -4% 227 -41% 525 416 26%
Exceptional items - - NM 24 NM 24 60 NM
PBT 133 139 -4% 203 -35% 501 356 41%
Tax Expense 45 40 13% 78 -42% 216 168 28%
PAT (From ordinary activities) 88 99 -11% 125 -30% 285 188 52%
Extraordinary items - - NM - NM - - NM
PAT 88 99 -11% 125 -30% 285 188 52%
Minority Expense - - NM - NM - - NM
PAT after Minority 88 99 (0.1) 125 -30% 285 188 52%
Key Ratios as a % of Total Revenue Q3 FY17 Q3 FY16 Q2 FY17 9MFY17 9MFY16
EBITDA 11.1% 14.1% 14.7% 12.7% 11.9%
PAT 4.0% 4.4% 4.5% 3.7% 2.8%
Total Expenditure 91.4% 87.4% 87.4% 89.6% 90.2%
Raw material 59.9% 55.1% 64.7% 63.6% 58.9%
Employee Cost 5.4% 5.0% 4.7% 4.8% 4.8%
Other Expenditure 26.1% 27.3% 17.9% 21.2% 26.5%
Note Ratios as % of revenue is calculated based on Net Sales from Operations
24
Corporate structure and shareholding pattern

Shareholding Pattern
Corporate Structure
(Dec 31, 2016)

No of shares: 254 mn

MOL

Meghmani Finechem Limited* Public &

57% Others
(Caustic Manufacturing)
27.1%
Meghmani Europe BVBA
100% (Distribution) Promoters
Meghmani Organics USA INC. Singapore 50.2%
100% (Distribution) Depository Shares
9.2%
P T Meghmani Organics Indonesia
100% Corporate
(Distribution)
Bodies
Foreign
Meghmani Overseas FZE 9.6% FII/DII
100%
(Distribution) 1.7% Company
2.3%

* 25% stake in Meghmani Finechem Limited held by IFC

Washington and remaining 18% by individual
promoters

25
Disclaimer

This presentation contains statements that contain forward looking statements including, but without
limitation, statements relating to the implementation of strategic initiatives, and other statements relating
to MOLs future business developments and economic performance.

While these forward looking statements indicate our assessment and future expectations concerning the
development of our business, a number of risks, uncertainties and other unknown factors could cause actual
developments and results to differ materially from our expectations.

These factors include, but are not limited to, general market, macro-economic, governmental and regulatory
trends, movements in currency exchange and interest rates, competitive pressures, technological
developments, changes in the financial conditions of third parties dealing with us, legislative developments,
and other key factors that could affect our business and financial performance.

MOL undertakes no obligation to publicly revise any forward looking statements to reflect future / likely
events or circumstances.

26
Contact us

For any Investor Relations queries, please contact:

Email: ir@meghmani.com Nisha Kakran/ Seema Shukla

Phone: +91-79-71761000 Four-S Services Pvt Ltd
Phone: +91-124-4251442/+91 7718811182
Email: nisha.kakran@four-s.com
seema@four-s.com

27