AGI GREENPAC LIMITED — Earnings Release 2021

May 10, 2021

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NEAPS/BSE ONLINE

10[th] May, 2021

The Corporate Relationship Department BSE Limited Phiroze Jeejeebhoy Towers, 1[st] Floor, New Trading Ring Rotunda, Dalal Street, Mumbai – 400001

Listing Department National Stock Exchange of India Limited Plot No. C/1, Block-G Exchange Plaza, 5[th] Floor, Bandra Kurla Complex, Bandra (E), Mumbai – 400051

Dear Sir/Ma’am,

Sub: Investors’ Conference Call on 12[th] May, 2021

We wish to inform you that Antique Stock Broking Limited has arranged a conference call for investors on Wednesday, 12[th] May, 2021 at 4:00 pm (IST) to discuss the financial results and earnings for the fourth quarter and year ended 31[st] March, 2021 of the Company, with the Management of HSIL Limited.

The representative from Antique Stock Broking Limited is Mr. Manish Mahawar whose contact no. is +91 98206 02888 and email id is manish.mahawar@antiquelimited.com. The invitation along with dial-in details to attend this conference call is enclosed herewith as Annexure-I.

The Company has engaged Churchgate Advisory Private Limited as an investor relations advisor and in case of any query, you may write to HSIL@churchgatepartners.com or call Mr. Ravi Gothwal on +91 22 6169 5988.

Further, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a copy of earnings presentation is enclosed herewith as Annexure-II .

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Earnings presentation will also be available on the website of the Company – www.hsilgroup.com.

You are requested to take the above information on your record.

For HSIL Limited

Digitally signed PULKIT by PULKIT BHASIN BHASIN Date: 2021.05.10 22:27:48 +05'30'

(Pulkit Bhasin)

Company Secretary

Name: Pulkit Bhasin Address: 301-302, 3[rd] Floor, Park Centra, Sector-30, Gurugram-122001 Membership No.: 27686

Cc to: Mr. Manish Mahawar

Antique Stock Broking Limited. manish.mahawar@antiquelimited.com

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- ANNEXURE I

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Antique Stock Broking Limited

invites you to a

Q4 FY21 Earnings Conference Call

HSIL Limited

on 12[th] May 2021 at 4:00 p.m. (IST)

Senior Management team from HSIL Ltd

Mr. R.B Kabra - President and CEO of Building Products

Mr. Rajesh Khosla – President and CEO, AGI Glaspac and Garden Polymer

Mr. Om Prakash Pandey - HSIL CFO

Mr. Sandeep Sikka – Group CFO

Dial in details

Universal Access: +91 22 6280 1342 / +91 22 7115 8243

International Toll Free Numbers:

International Toll Free Numbers:	International Toll Free Numbers:	International Toll Free Numbers:	International Toll Free Numbers:	International Toll Free Numbers:	International Toll Free Numbers:
Argentina	:	0080014243444	Netherlands	:	08000229808
Australia	:	1800053698	Poland	:	008001124248
Belgium	:	0080014243444	Singapore	:	8001012045
Canada	:	01180014243444	South Korea	:	00180014243444
China	:	4008428405	Sweden	:	0080014243444
France	:	0800914745	Switzerland	:	0800564911
Germany	:	0080014243444	Thailand	:	00180014243444
HongKong	:	800964448	UK	:	08081011573
Italy	:	0080014243444	USA	:	18667462133
Japan	:	00531161110

Or click below to Express Join with DiamondPass:

Click here to register

For any enquiries regarding the conference call, contact:

Mr. Manish Mahawar

Antique Stock Broking Limited Tel. No: +91 98206 02888

Email: manish.mahawar@antiquelimited.com

- ANNEXURE II

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www.hsilgroup.com

Earnings Presentation Q4 FY2021

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PACKAGING EXCELLENCE
GEARED FOR GROWTH
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Q4 FY2021 Highlights

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HSIL closed a year on a strong note, delivered EBITDA of ₹102 Crore in Q4 FY2021, registering a growth of 65.5% on Y-o-Y basis

(₹in crore)

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Total Income 36.3% EBITDA 65.5% EBIT 175.4% Profit after Tax 877.1%
Y-o-Y Y-o-Y Y-o-Y Y-o-Y
638.2
101.7
468.1
71.6
61.4
33.0
15.9% 26.0
11.2%
13.1% 3.4
5.2%
0.7%
5.6%
Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21
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Revenue Contribution by Division
2.8% 0.1%
29.0% 34.0%
68.2% 65.9%
Q4 FY20 Q4 FY21
Packaging Products Building Products Others
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EBIT Contribution by Division
9.6%
136.5%
104.4%
(16.0)%
(13.9)%
(20.5)%
Q4 FY20 Q4 FY21
Packaging Products Building Products Others and unallocable expenses
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• Inter segment revenue has not been eliminated

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Note: All margins are calculated on Total Income

FY2021 Highlights

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HSIL delivered strong annual growth despite losses emanating from lockdown in Q1 FY2021

(₹in crore)

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Total Income 0.1% Y-o-Y EBITDA 5.7% Y-o-Y EBIT 25.7% Y-o-Y Profit after Tax (Adjusted) 51.5% Y-o-Y
1,879.4 1,880.6
308.1
291.4
186.7
16.4% 73.3
15.5% 148.5
48.4
9.9%
7.9% 2.6%
3.9%
FY2020 FY2021
FY2020 FY2021 FY2020 FY2021 FY2020 FY2021
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Revenue Contribution by Division EBIT Contribution by Division
0.5%
2.3% 0.3% 13.4%
31.1% 31.9%
103.4% 105.2%
66.6% 67.8%
(16.7)% (5.7)%
FY2020 FY2021
FY2020 FY2021
Packaging Products Building Products Others
Packaging Products Building Products Others and unallocable expenses
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• Inter segment revenue has not been eliminated

• Adjusted PAT is calculated after adjusting income tax writebacks of ₹14.7 crore in FY2021

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Notes:

1. All margins are calculated on Total Income

Q3 FY2021 Highlights – Quarter on Quarter Performance Discussion

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HSIL is strategically well positioned to drive revenue growth and cash flows led by the packaging products division

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Commenting on performance, Mr. Sandip Somany, Vice Chairman and Managing Director Said:

“Despite nation-wide lockdown at the beginning of the year, I am pleased with our Q4 FY2021 performance

and have closed an otherwise challenging year on a strong note. The sales and profit growth also reflects the resilience of our business model. During the year, we focused on our costs and efficiencies to deliver a robust performance on a quarter-on-quarter basis. The improvement in margins over the last year clearly demonstrates our abilities to work and deliver under uncertain times.

For our future growth, we are investing in a greenfield project for specialty glass packaging and increasing our plastic pipes and fittings plant capacity. With a clear strategic direction, HSIL is well positioned to drive profitable growth in the coming years and create value for all stakeholders.”

Q4 FY2021 Key Highlights

• Sales growth during the quarter was driven by improved realizations and better product mix. Volumes were driven by increasing demand of glass containers from beer, and food and beverage industry

• Delivered EBITDA of ₹102 crore, registering a robust growth of 65.5% on y-o-y basis. EBITDA margins improved from 13.1% in Q4 FY20 to 15.9% in Q4 FY21

• Margins were driven by better product mix and higher operational efficiencies at our plants resulting in lower fuel / power and other costs per unit

FY2021 Key Highlights

• Generated strong net cash flow from operations of ₹298 crore, registering a growth of 179% y-o-y. This is excluding one time income tax refund of ₹51 crore in FY2021

• Incurred capex of ₹170 crore

• Company repaid total debt of ₹93.3 crore and also utilized cash of ₹78.4 crore towards the Buy Back of Shares

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Q3 FY2021 Highlights – Quarter on Quarter Performance Highlights – By Division

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Packaging	Packaging	Products		66% Revenue Contribution	B
FY 2021		Revenue from Operations ₹1,259 Cr 1.4% Y-o-Y	EBIT ₹196 Cr 15.6% Margins
Q4 FY 2021		Revenue from Operations ₹418 Cr 31.5% Y-o-Y	EBIT ₹75 Cr 17.9% Margins

34% Revenue Building Products Contribution

Revenue from Operations EBIT ₹593 Cr ₹0.9 Cr 2.2% Y-o-Y 0.2% Margins Revenue from Operations EBIT ₹216 Cr ₹7 Cr 59.7% Y-o-Y 3.2% Margins

Key Highlights:

Key Highlights:

• Revenue growth was driven by improvement on account of improved realizations and better product mix

• Volumes were driven by increased demand for glass bottles from multiple user segments thereby driving better volumes

• EBIT margins improved to 17.9% in Q4 FY2021 from 11.2% in Q4 FY2020 as a result of better product mix and higher operational efficiencies at the plants resulting in lower fuel and power costs per unit

• Glass container capacity utilization during the quarter was 85% as compared to 79% in the same quarter last year

• Post Covid-19 lockdowns, all our plants are now operational and the capacity utilization levels continues to improve quarter on quarter

• During the year, the division focused on automation, reducing wastage and increasing overall efficiencies

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Packaging Products – Glass Containers

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Glass Container Packaging – 2nd largest manufacturer of glass containers in India

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2 [nd] largest glass container
Expanded capacity from 150 tonnes 1,600
25+ manufacturing capacity in India.
to 1600 tonnes per day over last
Operates at 2 plants situated in
Years twenty five years Tonnes per Telangana
day
~20% ~20% market share in Indian 500+ Strong relationship with end
customers with selected pass
organized glass packaging industry
Institutional through arrangements
Market Share Clients
76% Lower capacity utilization as 1,113
compared to last year due to 59% contribution to FY2021 total
extended Covid-19 induced FY2021 revenue
Capacity lockdowns Revenue
Utilization ₹crore
All information as of FY2021
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Others
12%
Packaging
Product
Revenue Glass
Mix Contatiners
88%
Pharmaceuticals
11%
Food and
Beverages
19% Glass
Containers
Revenue Alcoholic
Mix Beverages
70%
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Packaging Products – Our Customers

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Diversified institutional clients across industries

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Packaging Products – Our Customers

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Diversified institutional clients across industries

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HSIL Industry Growth Drivers

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HSIL growth dynamics are fully aligned with the fundamental underlying growth profile of its customers

HSIL Growth Drivers

Total size of India container Glass market is ₹7,000 crore and same is expected to grow at a 7% CAGR to over next 5 years

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Growing consumption of spirits and beer resulting in increased demand for glass bottles

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Higher usage of glass packaging in Food & Beverage industry

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Increased preference for product security with Counterfeit-resistant products

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Alcoholic Beverages Pharmaceuticals Food and Soft Drink
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Market Size and Growth:

Market Size and Growth :

Market Size and Growth :

• Liquor segment has witnessed a growth of 3% in FY2020 and is expected to grow at a CAGR of 5- 6% during next 5 years

• Spending on food and nonalcoholic drink in India is expected to grow at 8 % in 2021. Further expected annual CAGR growth is 6.8% (2021-2025)

• India’s pharmaceutical market was valued at US$ 41 billion in 2020, and is projected to reach US$ 65 billion by 2024,

Growth Drivers:

Growth Drivers:

Growth Drivers:

• Growing preference for spirits

• • Increasing disposable income resulting in higher spending on alcoholic beverages

• Growing infrastructure and support from government to make India global leader in drug manufacturing

  • Evolving consumer preferences, rising income & growing rural opportunity

• Increasing private investment in this • Rural slowdown has bottomed out, sector demand is expected to stabilize

• Expanding beer market including craft beers

• Government initiatives for the sector

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Sustainability a Core Pillar of HSIL Strategy

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HSIL is committed in adopting and investing in environment friendly technology and initiatives Aim to build a long-term sustainable business for all stakeholders

Green Building Design

Plastic pipes and fittings plant is certified with the ‘Green Company’ IGBC platinum rating, and the manufacturing process is GreenCo platinum-certified, making HSIL one of the very few companies in India to accomplish this coveted feat. Our counterfeit-resistant security caps and closures manufacturing plant at Telangana is also a platinum rated by the Indian Green Building Council (IGBC).

Only container glass manufacturer in India to set up electrostatic precipitators for air pollution control

Kaharani (Bhiwadi) plant has been rated “GreenCo Gold” for being one of the nation’s best in many GreenCo parameters

Light Saving Building Design

Designed all facilities, especially shop floors to ensure no artificial lighting is required during daytime & LED lighting is extensively used to reduce energy usage

Renewable Energy

Increasing share of renewable power in overall energy consumption, with the help of on-site rooftop solar power plants installations of 12.7 MW

Environment Friendly Certified Manufacturing Process

DMF – Quality Assurance for supply to US pharmaceutical market. ISO 14001:2015 – Environment Management System. OHSAS 18001: 2007 Occupational Health and Safety Management System. ISO 15378:2011 and 2017 – Quality Management System to provide primary packaging material for medicinal products.

Waste Treatment

Effluent and Sewage treatment plants installed, and waste generated while processing is almost 100% recycled by regrinding and reprocessing

Zero liquid discharge at all 11 plants and focus on substantial reduction in water usage through water treatment facilities, rainwater harvesting and RO systems

Environment-friendly Product

Large number of SKU’s in sanitaryware and faucets certified as green products on account lower water usage

Greendrop Glassware - Promoting ‘glass packaging’ which is environment-friendly product as an alternative to single-use plastic

Helps in attracting and Cost saving due to usage of engaging with ESG natural light and energy Increased efficiency and conscious institutional saving equipments productivity clients

High morale among Sustainable business stakeholders – clients and employees

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Board of Directors and Leadership Team

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56% of the Board is Independent

Experienced senior management team with dedicated executives to professionally manage business operations

Board of Directors

• Mr. Nand Gopal Khaitan (Independent Director) Attorney-at-Law and a Notary Public appointed by the Government of India

• Mr. Vijay Kumar Bhandari (Independent Director) Fellow Chartered Accountant with over 38 years of experience in the Banking Industry

• Mr. Anil Wadhwa (Independent Director) Ex-Member of the Indian Foreign Services. Served as Indian Ambassador to Poland, Lithuania, Sultanate of Oman, Thailand, Italy and San Marino over the course of 38 years

• Ms Himalyani Gupta (Independent Director) Advocate with over 30 years of experience Standing Counsel for the Union of India in the Hon’ble Supreme Court of India

• Mr. Rakesh Sarin (Independent Director)

• 43 years of experience in the field of distributed energy, policy advocacy and development of large renewable energy platform

• Ms. Sumita Somany (Non-Executive Non-Independent Director) Over a decade of experience in the retail industry

• Mr. Girdhari Lal Sultania (Non-Executive Non-Independent Director) Fellow Chartered Accountant, Fellow Company Secretary and consultant by profession

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Dr. Rajendra Kumar Somany
Chairman And Managing Director
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Mr. RB Kabra President and CEO, Building Products

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Mr. Sandip Somany Vice-Chairman And Managing Director

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Mr. Rajesh Khosla President and CEO, AGI Glaspac and Garden Polymers

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Mr. Sandeep Sikka Group CFO

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Mr. Om Prakash Pandey Chief Financial Officer

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Financial Performance

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	Q4	Q4	Y-o-Y	Q3	Q-o-Q	Full Year	Full Year	Y-o-Y
(₹in crore)	FY2021 FY2020		Growth (%)	FY2021	Growth (%)	FY2021 FY2020		Growth (%)
Income from Operations	633.2	461.0	37.3%	541.5	16.9%	1,852.6	1,859.1	(0.3)%
Other Income	5.0	7.1	(29.4)%	6.1	(17.9)%	28.0	20.3
Total Income	638.2	468.1	36.3%	547.6	16.6%	1,880.6	1,879.4	0.1%
EBITDA	101.7	61.4	65.5%	100.7	1.0%	308.1	291.4	5.7%
Margins (%)	15.9%	13.1%		18.4%		16.4%	15.5%
EBIT	71.6	26.0	175.4%	69.7	2.7%	186.7	148.5	25.7%
Margins (%)	11.2%	5.6%		12.7%		9.9%	7.9%
PAT	33.0	3.4	877.1%	35.9	(8.1)%	88.1	48.4	81.8%
Margins (%)	5.2%	0.7%		6.6%		4.7%	2.6%
Adjusted PAT*	33.0	3.4	877.1%	35.9	(8.1)%	73.3	48.4	51.5%
Margins (%)	5.2%	0.7%		6.6%		3.9%	2.6%
EPS on reported PAT(in ₹)	4.77	0.47	914.3%	5.08	(6.2)%	12.71	6.69	90.0%

Notes:

1. All margins are calculated on Total Income

2. Adjusted PAT is calculated after adjusting income tax writebacks of ₹14.7 crore in FY2021

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Financial Performance Trend

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HSIL continues to deliver a strong quarter on quarter growth with significant improvement in EBITDA margins

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(₹in crore)
Total Income
36.3%
638.2
547.6
468.1
439.3
255.5
Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21
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EBITDA and Margins
65.5%
100.7 101.7
77.3
61.4
28.4 17.6% 18.4% 15.9%
13.1%
11.1%
Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21
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EBIT and Margins Adjusted Profit After Tax
175.5% 876.3%
69.7 71.6
52.5 35.9 33.0
11.2% 21.8
26.0 3.4
5.6% 11.9% 12.7% 0.7% 5.0% 6.6% 5.2%
(7.1)
(17.4)
Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21
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Notes:

1. All margins are calculated on Total Income 2. Adjusted PAT is calculated after adjusting income tax writebacks of ₹14.7 crore in Q2 FY2021

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Financial Performance Trend – By Division

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(₹in crore) Packaging Products
Revenue from Operations
31.5%
418.2
361.0
318.1
288.6
190.9
Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21
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Building Products

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Revenue from Operations Revenue from Operations
31.5% 59.7%
418.2
361.0
318.1 215.9
288.6
179.4
190.9 135.2 137.5
59.9
Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21
EBIT and Margins EBIT and Margins
110.5%
9.6
74.7 6.7 6.9
63.6
5.4%
4.9% 3.2%
41.1
35.5 17.6% 17.9%
(4.2)
17.0
11.2% 8.9% 14.2%
(22.3)
Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21
Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21
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Note: Margins are calculated on Segment Income

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Financial Performance Trend - Annual

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(₹in crore)

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Total Income
7.0% CAGR
1,879.4 1,880.6
1,644.0
FY2019 FY2020 FY2021
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EBITDA and Margins
20.4% CAGR
308.1
291.4
212.7
15.5% 16.4%
12.9%
FY2019 FY2020 FY2021
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EBIT and Margins
51.5% CAGR
186.7
148.5
9.9%
81.4 7.9%
4.9%
FY2019 FY2020 FY2021
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Adjusted Profit After Tax
119.2% CAGR
73.3
48.4
15.3 2.6% 3.9%
0.9%
FY2019 FY2020 FY2021
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Notes:

1. All margins are calculated on Total Income

2. Adjusted PAT is calculated after adjusting income tax writebacks of ₹14.7 crore in FY2021

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Financial Performance Trend (Annual) – By Division

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Packaging Products

Building Products

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(₹in crore)
Revenue from Operations Revenue from Operations
7.1% CAGR 9.6% CAGR
1,258.7
1,241.5 579.9 592.7
493.5
1,097.2
FY2019 FY2020 FY2021 FY2019 FY2020 FY2021
EBIT and Margins EBIT and Margins
47.9% CAGR
21.7
196.4 19.9
153.5
4.4%
89.8 15.6% 3.4%
12.4% 0.9
0.2%
8.2%
FY2019 FY2020 FY2021
FY2019 FY2020 FY2021
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Note: All margins are calculated on Total Income

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Capital Structure

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Strengthening Balance Sheet

(₹in crore)	Mar-19 Mar-20 Mar-21	Mar-19 Mar-20 Mar-21	Mar-19 Mar-20 Mar-21
Long Term Debt Current Maturities of Long Term Debt Short Term Debt Deferred Government Loan	703.2 19.9 152.0 13.3	728.7 57.7 208.7 11.2	675.4
			91.8
			128.7
			9.2
Total Debt Less: Cash & Cash Equivalents	888.5 39.3	1,006.3 47.5	905.1
			23.4
Net Debt Total Equity Net Debt/Equity	849.1 1,256.1 0.68x	958.8 1,256.9 0.76x	881.7
			1,233.6
			0.71x

CARE A+; Stable Outlook Long Term Debt CARE A1+ Short Term Debt

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Cash Flow Statement

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FY2020
25
Opening Cash Cash Flow From Cash Flow From Cash Flow from Closing Cash
Balance Operations Investing Financing Balance
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FY2021
Opening Cash Cash Flow From Cash Flow From Cash Flow from Closing Cash
Balance Operations Investing Financing Balance
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FY2021 Key Highlights:

• Generated strong net cash flow from operations of ₹298 crore, registering a growth of 179% y-o-y. This is excluding one time income tax refund of ₹51 crore in FY2021

• In FY2021, the company incurred capex of ₹170 crore

• During the year, company repaid total debt of ₹93.3 crore and also utilized cash of ₹78.4 crore towards the Buy Back of Shares

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Disclaimer and Forward Looking Statements

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• This presentation is strictly confidential and may not be copied, published, distributed or transmitted. The information in this presentation is being provided by HSIL Limited (also referred to as the ‘Company’). By attending the meeting where this presentation is being made or by reading the presentation materials, you agree to be bound by the following limitations:

• The information in this presentation has been prepared for use in presentations by the Company for information purposes only and does not constitute, or should be regarded as, or form part of any offer, invitation, inducement or advertisement to sell or issue, or any solicitation or initiation of any offer to purchase or subscribe for, any securities of the Company in any jurisdiction, including the United States and India, nor shall it, or the fact of its distribution form the basis of, or be relied on in connection with, any investment decision or any contract or commitment to purchase or subscribe for any securities of the Company in any jurisdiction, including the United States and India. This presentation does not constitute a recommendation by the Company or any other party to sell or buy any securities of the Company.

• This presentation and its contents are not and should not be construed as a prospectus or an offer document, including as defined under the Companies Act, 2013, to the extent notified and in force or an offer document under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended.

• This presentation and its contents are strictly confidential to the recipient and should not be further distributed, re-transmitted, published or reproduced, in whole or in part, or disclosed by recipients directly or indirectly to any other person or press, for any purposes. In particular, this presentation is not for publication or distribution or release in any country where such distribution may lead to a breach of any law or regulatory requirement. No person is authorised to give any information or to make any representation not contained in or inconsistent with this presentation or/and if given or made, such information or representation must not be relied upon as having been authorised by us. Receipt of this presentation constitutes an express agreement to be bound by such confidentiality and the other terms set out herein. Any failure to comply with this restriction may constitute a violation of applicable securities laws.

• 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 the information or opinions contained in this presentation. Neither the Company nor any of its affiliates, advisors or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. This presentation is based on the economic, regulatory, market and other conditions as in effect on the date hereof. It should be understood that subsequent developments may affect the information contained in this presentation, which neither the Company nor its affiliates, advisors or representatives are under an obligation to update, revise or affirm.

• This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Unless otherwise indicated, the information contained herein is preliminary and indicative and is based on management information, current plans and estimates. Industry and market-related information is obtained or derived from industry publications and other sources and has not been independently verified by us. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

• THIS PRESENTATION IS NOT AN OFFER FOR SALE OF SECURITIES IN INDIA, THE UNITED STATES OR ELSEWHERE.

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19

www.hsilgroup.com

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Corporate Office 301-302, III Floor, Park Centra, Sector 30, N.H-8, Gurgaon, Haryana – 122001

Phone +91 124 4779200

Website

https://www.hsilgroup.com

Investor Relations Advisor

Ravi Gothwal / Vikas Luhach Churchgate Partners Phone +91 22 6169 5988

Phone

Website

https://www.churchgatepartners.com/

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www.hsilgroup.com
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