Ambuja Cements Ltd. — Investor Presentation 2024

May 1, 2024

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1[st] May, 2024

To National Stock Exchange of India Limited BSE Limited Luxembourg Stock Exchange Scrip Code: AMBUJACEM Scrip Code: 500425 Code: US02336R2004

Sub: Investor Presentation under Regulation 3o of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015

Dear Sir/Madam,

In continuation of our letter dated 20[th] April 2024 regarding Analyst/Institutional call scheduled on 2[nd] May 2024 we are enclosing herewith Presentation titled ’Operational and Financial Highlights’ of the Company for the quarter and year ended on 31[st] March, 2024.

The above information shall also be made available on the Company's website at www.ambujacement.com under Investor Presentation tab.

Kindly take the above on your records.

Thanking you,

Yours faithfully,

For Ambuja Cements Limited

Manish Vinodchandra Mistry Digitally signed by Manish Vinodchandra Mistry DN: c=IN, o=Personal, title=6862, 2.5.4.20=4a40cf551f16e069b510d62dabb2fe3844092022ab13f41ba7cecec54b84835d, postalCode=390011, st=Gujarat, serialNumber=22e5c090745d8aa6215231e47ce2beb81d0422fc266339ee63d2026d0c6a15c4, cn=Manish Vinodchandra Mistry Date: 2024.05.01 13:52:42 +05'30'

Manish Mistry Company Secretary & Compliance Officer Encl.: as above.

Registered Office: Adani Corporate House Shantigram, S. G. Highway, Khodiyar, Ahmedabad – 382 421, Gujarat, India Ph +91 79-2656 5555 www.ambujacement.com CIN: L26942GJ1981PLC004717

ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

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& Financial Highlights
For the Quarter Ended March 31, 2024
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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Performance at a glance FY24

Ambuja Cement consolidated

Lifetime highest Annualised PAT for both Ambuja & ACC

REVENUE

(in R Cr)

R2,123+

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(+7%)
33,160
31,037
12M FY24
12M FY23
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EBITDA

(Excluding other income, in R Cr)

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R2,702+
(+73%)
6,400
3,698
12M FY24
12M FY23
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EBITDA

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PAT
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(in R Cr)
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(Excluding other income, in R/Ton)

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R406+ R2,549+
(+60%) (+119%)
1,081 4,738
676 2,168
22
12M FY24 12M FY24
12M FY23 12M FY23
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ADANI GROUP PROFILE

ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS OVERVIEW HIGHLIGHTS UPDATE AWARDS

Performance at a glance Q4 FY24

Ambuja Cement consolidated

Highest ever Clinker & Cement sales over last 20 qtrs. at 16.6 Mn T

REVENUE

(in R Cr)

EBITDA

(Excluding other income, in R Cr)

EBITDA

(Excluding other income, in R/Ton)

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PAT
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(in R Cr)

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R148+ R762+
R928+ R460+
(+17%) (+100%)
(+37%)
(+12%)
8,894 1,699 1,026 1,526
7,966 1,239 877 763
3 3
Q4 FY24 Q4FY24 Q4FY24 Q4FY24
Q4 FY23 Q4FY23 Q4FY23 Q4FY23
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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Builders of Progress in India

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Development

Well poised for Growth

• 79 MTPA capacity (11.4 MTPA added in last 18 months) On track to achieve 140 MTPA by 2028

• 20 MTPA under execution

• 41 MTPA at various stages

Cost Leadership

• 10% cost reduction during last 18 months, target to reach 3650 PMT by 2028

Market Leadership

Iconic brands with high Brand Equity

Operations

Asset Footprint

• Pan India asset footprint

• Advantage coastal movement & rail infrastructure

Supply Chain Excellence

• Leveraging rail, sea and BCT/GUs infrastructure for lower logistics cost

Sales & Marketing Excellence

• Highest % of trade sales within peers , catering to profitable IHB segment

• Premium cement @ 24% of Trade sales, amongst highest in the industry

• • Digitization to help grow granular markets

Value Creation

Stakeholders

NIL Debt, growth capex to be met by operating cash flows / internal accruals

To retain warchest of 20,000 Cr received under warrants program for strategic opportunities

Societal

• 3.3 Million people benefit under community development projects

Environmental

• Ahead of Sustainable Development (SD) 2030 Plan

• • Target 60% Green Power & 27% TSR by 2028 • Water positivity (11x) and circular economy (8x plastic negative) achieved

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG PROFILE OVERVIEW HIGHLIGHTS UPDATE

ACCOLADES & AWARDS

ABBREVIATIONS

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Contents

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01 02 03
Adani Group Adani Cement - Performance
Profile 6 Overview 10 Highlights 16
05 06
04
Accolades & Abbreviation
ESG Update 32 Awards 41 45
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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS
PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS
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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS
PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS
Adani: A World Class Infrastructure & Utility Portfolio
Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C
Materials, Metal &
Incubator Energy & Utility Transport & Logistics Direct to consumer
Mining
(72.6%) (56.4%) (73.2%) (65.9%) (100%) (66.7%)
AGEL AESL APSEZ
AEL NQXT [1] Cement [4]
Renewables T&D Ports & Logistics
(37.4%) (71.8%) (100%) (44.0%)
ATGL [2] APL Copper, Aluminum AWL
Gas Discom IPP Food FMCG
(100%)
PVC (64.71%)
(100%)
NDTV
Specialist
Manufacturing [5]
(100%) (50%) (100%) (100%) (100%)
(100%)
ANIL AdaniConneX [3] AAHL ARTL ADL
New Industries Data Centre Airports Roads Mining Services & Digital
Commercial Mining
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(%): Promoter equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries

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A multi-decade story of high growth centered around infrastructure & utility core
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1. NQXT: North Queensland Export Terminal | 2. ATGL: Adani Total Gas Ltd, JV with Total Energies | 3. Data center, JV with EdgeConnex, | 4. Adani Cement includes 66.74% stake in Ambuja Cements which in turn owns 50.05% in ACC Limited. Adani directly owns 6.64% stake in ACC Limited. Ambuja Cements Ltd. holds 60.44% stake in Sanghi Industries Ltd.| 5. Includes the manufacturing of Defense and Aerospace Equipment | AEL: Adani Enterprises Limited; APSEZ: Adani Ports and Special Economic Zone Limited; AESL: Adani Energy Solutions Limited; T&D: Transmission & Distribution; APL: Adani Power Limited; AGEL: Adani Green Energy Limited; AAHL: Adani Airport Holdings Limited; ARTL: Adani Roads Transport Limited; ANIL: Adani New Industries Limited; AWL: Adani Wilmar Limited; ADL: Adani Digital Limited; IPP: Independent Power Producer | NDTV: New Delhi Television Ltd | PVC: Polyvinyl Chloride l Promotors holding are as on 31[st] March, 2024.

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS
PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS
Adani Portfolio: Decades long track record of industry best growth with national footprint
Secular growth with world leading efficiency National footprint with deep coverage
Growth 3x [6] Growth 4x [6]
EBITDA 70% [1,2] EBITDA 92% [1,4]
AEL
APSEZ
Growth 3x [6] Growth 1.4x [6] AGEL
ATGL Adani’s Core Infra. Platform –
EBITDA 91% [1,3,5] EBITDA 24% [1,3] AESL 320 Mn Userbase
APL
Adani Cement
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Note: 1. Provisional Data for FY24 (FY 23A for APSEZ) ; 2. Margin for indian ports business only, Excludes forex gains/losses; 3. EBITDA = PBT + Depreciation + Net Finance Costs – Other Income; 4. EBITDA Margin represents EBITDA earned from power supply 5. Operating EBITDA margin of transmission business only, does not include distribution business, 6. Growth pertains to expansion and development aligned with market growth. Growth of respective Adani portfolio company vs. Industry growth is as follows: APSEZ 's cargo volume surged from 113 MMT to MMT 339(13%) between 2014 and 2023, outpacing the industry's growth from 972 MMT to 1433 MMT (4%). AGEL 's operational capacity expanded from 0.3 GW to 10.9 GW (57%) between 2016 and 2024, surpassing the industry's growth from 46 GW to 143.6 GW (15%). AESL's transmission length increased from 6,950 ckm to 20,509 ckm (14%) between 2016 and 2024, surpassing the industry's growth from 3,41,551 ckm to 4,85,544 ckm (4%). ATGL expanded its geographical areas from 6 to 52 (27%) between 2015 and 2024, outperforming the industry's growth from 62 to 307 (19%). PBT- Profit before tax, ATGL-Adani Total Gas Limited, AEL: Adani Enterprises Limited, APSEZ: Adani Ports and Special Economic Zone Limited, AESL: Adani Energy Solutions Limited, APL: Adani Power Limited, AGEL: Adani Green Energy Limited l Growth represents the comparison with respective industry segment.

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ADANI GROUP ADANI CEMENT PERFORMANCE PROFILE OVERVIEW HIGHLIGHTS

ESG ACCOLADES & ABBREVIATIONS UPDATE AWARDS

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Adani Portfolio: Repeatable, robust & proven transformative model of investment

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• Phase Development Operations Post Operations

• Center of Excellence Project Management & Assurance Group (AIIL) AIMSL[1] Policy -Strategy - Risk Origination Site Development Construction Operation Capital Mgmt

• • Analysis & market • Site acquisition • Engineering & design • Life cycleO&M planning • Redesigning capital structure intelligence • Concessions & regulatory • Sourcing & quality levels • Asset Management plan of assets

• • Viability analysis agreements • Equity & debt funding at • Operational phase funding consistent with asset life • • Strategic value Investment case development project

• India’s Largest Longest Private HVDC 2,140 MW Hybrid Energy Network Operation • Duration Risk Matching Commercial Port Line in Asia cluster operationalized Center (ENOC) (at Mundra) (Mundra - Mohindergarh) in Rajasthan in FY23 • Forex Currency Risk Management • Interest Rate Risk management

• Centralized continuous

• India’s first and monitoring of plants • Governance & Assurance

• Highest Margin Highest line World’s largest solaracross India on a single (ABEX -Adani Business Excellence)

• among Peers availability wind hybrid cluster cloud based platform 5% 14

• 31% %

• 14%

• 31% 55% 20% 2% 27% 1%

• PSU Pvt. Banks Bonds DII Global Int. Banks Capex LC

Note 1 Adani Environmental Resource Management Services Ltd. (additional company is being proposed) I 2 Based on provisional FY 24 data. O&M: Operations & Maintenance, HVDC: High voltage, direct current, PSU: Public Sector Undertaking (Public Banks in India), GMTN: Global Medium-Term Notes SLB: Sustainability Linked Bonds, AEML: Adani Electricity Mumbai Ltd., AIMSL : Adani Infra Mgt Services Pvt Ltd, IG: Investment Grade, LC: Letter of Credit, DII: Domestic Institutional Investors, COP26: 2021 United Nations Climate Change Conference; AGEL: Adani Green Energy Ltd . ,NBFC: Non-Banking Financial Company l AIIL : Adani Infra India Limited

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ADANI GROUP ADANI CEMENT PERFORMANCE PROFILE OVERVIEW HIGHLIGHTS

ESG ACCOLADES & ABBREVIATIONS UPDATE AWARDS

10

ADANI GROUP PROFILE

ADANI CEMENT PERFORMANCE ESG ACCOLADES & OVERVIEW HIGHLIGHTS UPDATE AWARDS

Advantage - Group Synergy

Realty

Fly Ash

Fly ash sourced from group’s power plants ensures assured supply with optimized cost

People

Optimisation of resources with right Talent at right place, training & development

Logistics

Leverage group company’s expertise in logistics to optimise distribution cost

Group land bank Group Cement requirement (Dharavi, Navi Mumbai Airport, Ganga expressway..)

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AIIL

Expertise of projects SportsLine execution & Branding and negotiation benefits Marketing

Coal

Use group’s expertise in procuring coal and mining operations

Power & Renewables

Group’s expertise in Thermal power plant operations and renewable energy to optimize power cost

ABEX services / Digital Infra

Leverage shared services vertical of the group, along with digital infra (IT)

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ADANI GROUP PROFILE

ADANI CEMENT PERFORMANCE ESG ACCOLADES & OVERVIEW HIGHLIGHTS UPDATE AWARDS

Infrastructure and Housing sectors to keep Cement Demand vibrant

Housing

• Govt. of India promotional scheme for rural housing to push demand

• • Aspirational India (per capita GDP ~ USD 3000 by 2025)

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• Working age population of 1 Bn by 2030

• Rising shift from rental to own house

• Redevelopment across several cities

(Housing sale grew 63% in Q4 FY’24 YoY (area volume growth)

• Infrastructure • GOI’s National Infrastructure Pipeline (NIP), decade of infrastructure, ~ USD 4 Trillion investment expected

• Highways (~15000 km/year), Ports, Bullet Trains, Rail/Metro, Renewables

• New Economic Corridors across the country to boost cement demand

• • Stronger Banking Industry – a booster to Capex, GDP expected robust growth of 6-8% in long run

• Commercial • GOI’s Make in India & PLI schemes attracting sizeable investments ~ $ 12 Bn in a year

• China Plus strategy driving manufacturing

• Growth in commercial space to support demand

  • Net leasing of office space expected to grow by 10-15%

10% - 14% 11% - 15% 24% - 25% 25%-29% 62%-65% 60%-62% FY 2028f FY 2023

Commercial Housing Infrastructure

• 47-52% growth expected in the Indian data center industry in fiscal 2023

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Indian Cement Industry – High growth expected

• 2[nd] largest producer of cement (550 Mn MT) – 9% share of Global capacity (6,875 Mn MT)

• At 270 kg per Capita Cement consumption (world average of 520 kg), India is 1/2 of the global average, 1/6[th] of China.

• Next 5 years, GDP expected to grow at 6-7%. Cement demand expected to grow at a rate of 8-9% (1.2x), higher than capacity addition rate, expect better capacity utilization (Adani Cement at 90% of capacity utilization)

• CPI Inflation is showing a downward trend to ~ 4.5% in FY’25 vs 5.4% in FY’24, positive sign for higher disposable income

• Adani Cement current market share is 14%, target of 20% by FY’28

• Indian cement sector is fragmented and regional industry - Adani Cement is a pan India player

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702
550 556
422
FY’24 FY’28
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Supply Demand

Demand growth @ CAGR of 8-9% Supply growth @ CAGR of 6-7%

• Cement sector has witnessed increased M&A activities leading to market consolidation

• 200 Mn T capacity exchanged hands during last 10 year

• Last acquisition of Sanghi Industries, Asian Concretes and Cements Pvt Ltd & GU in Tuticorin successfully completed by Adani Cement

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ADANI GROUP PROFILE

ADANI CEMENT PERFORMANCE OVERVIEW HIGHLIGHTS

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ESG ACCOLADES & ABBREVIATIONS UPDATE AWARDS

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Presence in 30 states and 580+ districts (~75%)*

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580+ districts (~75%)
Gagal
For the Quarter Ended March 31, 2024
Darla / Suli
# Rajpura Ropar Nalagarh Asian Nalagarh
78.9MTPA 60.6% Bhatinda Roorkee
Cement Capacity Clinker Factor Dadri
Kymore
Rabriyawas
Ametha
18 10 Marwar Mundwa Tikaria
Chaibasa
Integrated Units Captive Ships Lakheri
Farakka
Sanghi Sindri
Navalakhi Sankrail
86% 86+ Ambujanagar Damodhar
Share of Blended Cement Ready-Mix Concrete plants Muldwarka SuratDahej Bargarh
Panv el Bhatapara
BCCI Jamul
10.6% 6 Chanda Maratha cement works Wadi Integrated Plants
Thermal Substitution Rate Bulk Cement Terminals Grinding Units
Bulk Terminal
Vizag Blending unit
#
1,00,000+ 19 Kudithini Ambuja
Thondebha vi
Channel partners across India Grinding Units Mangalore ACC
Sanghi
# Order placed for capacity expansion of 14 MTPA Cement incl. 8 MTPA Clinker Bhatapara • National presence as on 31.03.2024 & Maratha), under implementation Madukkarai Dahej
Cochi n
Tuticorin
CNOC – Cement Network Operating Centre launched.
Provides seamless integration of our value chain from quarry to lorry
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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Iconic brands with cumulative 120+ years history that shaped the industry

Heritage

India‘s 1st Cement Company, Inter-generational legacy which pioneered product development

Strength

Original disruptor with Virat Compressive Strength Pioneered brand building & technical services

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High
Patronage
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High contribution National
from Trade segment presence
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Ambuja +
ACC
IHB Contractors 75%
Industry – 65%
Share of Premium
Products
Professionals Dealers
24%
of Trade Volume
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Northern Zone : 27%
Central Zone : 14%
Western Zone : 24%
Southern Zone : 9%
Eastern Zone : 27%
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ADANI GROUP ADANI CEMENT PERFORMANCE PROFILE OVERVIEW HIGHLIGHTS

ESG ACCOLADES & ABBREVIATIONS UPDATE AWARDS

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

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All Round Performance since acquisition of Ambuja & ACC

• Warrant program of entire Rs 20,000 Cr completed in April 2024

• Net worth all time high at Rs. 59,185* Cr and Cash & Cash equivalent all time high at Rs 24,338* Cr

• 79 MTPA capacity (11.4 MTPA added in last 18 months), on track to achieve 140 MTPA by 2028

• 20 MTPA under execution (4 MTPA Clinkering & 4.8 MTPA GU expected to commence in Q4’25)

• 41 MTPA at various stages (involves 9 Kilns and 17 GUs)

• Added 142 Mn MT new limestone reserves secured in Q4 FY’24, total reserves reaching 7.8 Bn MT at a premium < 3%

• ESG Program :

  • Green power expected to reach 31% share of total power requirement by FY’25 & 60% by FY’28

  • Water positive @ 11x (ahead of SDP 2030 target)

  • Plastic negative @ 8x

• Higher share of coal from captive mines and opportunity buy of imported pet coke will lead to lower fuel costs

• With new Sea logistics infrastructure and own BCFC rakes, logistics costs will further reduce

• Solution oriented sales, larger engagement of technical services and focused Brand promotions yielding results, improving volumes and margins

• including warrant money of Rs. 8,339 Cr received in April ‘24

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Newly acquired state of the art grinding unit which will help to penetrate Tuticorin (GU) South Tamilnadu and North Kerala markets

1.5 MTPA Cement capacity

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Financial results (for the Quarter)

	UoM Particulars	Ambuja Consolidated	Ambuja Standalone	ACC Standalone	Sanghi
		Mar 23 Dec 23 Mar 24 7,966 8,129 8,894 *	Mar 23 Dec 23 Mar 24 4,256 4,440 4,780	Mar 23 Dec 23 Mar 24 4,791 4,918 5,398	Mar 23 Dec 23 Mar 24 226 374 285
	KCr Revenue from Operation
	KCr EBITDA (Excl. Other Income)	1,239 1,732 1,699	788 851 798	466 903 837	(11) (23) 59
	% EBITDA (%)	15.6% 21.3% 19.1% #	18.5% 19.2% 16.7%	9.7% 18.4% 15.5%	(5%) (12%) 20.7% @
	K/Ton EBITDA (PMT)	877 1,225 1,026	975 1,043 837	552 1,015 802	(278) (608) 758
	KCr Other Income	284 194 233	174 108 177	117 84 122	1 1 3
	KCr PBT	989 1,448 1,601	643 680 681	328 719 662	(105) (201) (19)
	KCr PAT	763 1,090 1,526	502 514 532	237 527 749	(105) (202) (19)
	K EPS (diluted)	$ 3.08 3.86 4.79	2.40 2.41 2.42	12.56 28.02 39.76	(4) (8) (1)

• Net of MSA sales for Ambuja consolidated. MSA Volumes of 4.08 MnT / Rs 1,569 Cr, for Mar’24 Quarter

• Vs Dec’23 Lower Margin: Cost reduced by Rs 168/t which mitigated partly Industry wise lower price realization

• $ Dilution basis outstanding warrants

• @ Vs Dec’23 Higher Margin: Mainly driven by higher capacity utilisation and reduction in cost of production

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Ambuja Cement (Consolidated) Cement Business (% Change YoY)

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SALES VOLUME - CLC REVENUE
(MnT) (K . Cr)
17% 12%
16.6
8,576
14.1 14.1
7,829
7,626
Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24
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EBITDA (Excl. Other Income) EBITDA (Incl. RMX)
(K Cr & Margin) (Excl. Other Income) (K /ton)
34% 17%
1,701 1,648
1,225
1,232
1,026
877
16.2.% 21.7% 19.2%%
Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24
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Sales volume growth of 17% driven by

• Solution oriented sales, larger engagement of Technical services

• Strengthening of ground sales team

• Improved Brand Equity

• Market segmentation and focus on higher profitable markets

• Improved physical infrastructure & plant productivity

• Digitisation : effectiveness of sales analytics

Volume expansion, Cost reduction, Efficiency improvement initiatives and Synergies within cement business & with group businesses have contributed to profitability improvement

• EBITDA up by Rs 416 Cr by (34%)

• Margin expansion by 3 pp from 16.2% to 19.2%

• High share of premium products @ 24% of Trade sales volume contributing to higher EBITDA

EBITDA expansion continues – EBITDA sustained above Rs 1,000 PMT level in last two quarters (Dec’23 & Mar’24)

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Ambuja Cement (Consolidated) Cement Business (% Change YoY)

RAW MATERIAL

(K/ton)

POWER AND FUEL (K/ton)

FREIGHT AND FORWARDING OTHER EXPENSES (K/ton) (K /ton)

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1%
591
564
560
Mar-23 Dec-23 Mar-24
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13%
1,401
1,353
1,216
Mar-23 Dec-23 Mar-24
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8%
4%
777
1,362
1,297 701
1,258 677
Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24
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Raw materials cost lower than previous year driven by various initiatives viz. entering into long term supply agreements etc.

Sustained cost reduction in Power and Fuel with higher focus on green power (WHRS, solar, Wind), change of fuel basket, higher TSR & synergies with group

Freight and forwarding costs reduced by 8% & expected to further reduce in coming quarters with various initiatives like

• Network/ route optimization

Other expenses increased by 4%. This is expected to further reduce with operational efficiencies and digitalization initiatives

• Technology/ digitization

• Increased share of sea transport

Journey of Cost leadership continues…. Target total cost of Rs 3,650/t by FY’28, need additional reduction by Rs. 530/t

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Trade Sales amongst highest in the industry

	Particulars	Mar'24 Q	Mar'24 Q	Mar'23 Q	Mar'23 Q	Change (Volume)	Rising trend of share of Premium Products
		Volume (MnT)	%	Volume (MnT)	%
	Region wise cement sales volume North East South Central West	4.3 4.2 1.5 2.2 3.8	27% 27% 9% 14% 24%	3.6 3.7 1.5 2.0 3.1	26% 27% 11% 15% 22%	21% 15% 0% 7% 22%
	Total	16.0	100%	13.9	100%	15%
	Cement type OPC Cement BlendedCement	2.2 13.8	14% 86%	1.1 12.8	8% 92%	93% 8%
	Total	16.0	100%	13.9	100%	15%
	Segment Type Trade sale Non-trade sale	12.0 1.9 13.8	86% 14%	11.0 1.8 12.8	86% 14%	9% 3%
	Total		100%		100%	8%
	Premium Products	2.9	24.0% ~~*~~	2.4	22.2% ~~*~~	1.8pp

• as % of trade sales

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Capacity Utilization amongst highest in the industry

	Regions		Mar'24Q			FY'24
		Capacity (MnT)	Production (MnT)	Utilisation %	Capacity (MnT)	Production (MnT)	Utilisation %
	North East South Central West	5.1 4.4 2.4 1.8 5.0 18.7	4.4 4.1 1.9 1.8 3.1 15.4	85% 93% 79% 102% 63%	20.7 17.6 9.7 6.36 15.7	17.7 15.2 7.2 6.3 10.5	86% 86% 75% 99% 66%
	Total			82%	70.1	56.9	81%
	Annualized Capacity				77.4

Capacity utilization maintained above 75%

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Ambuja Cement (Standalone) Cement Business (% Change YoY)

SALES VOLUME - CLC

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(MnT)
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REVENUE

(K Cr)

EBITDA (Excl. Other Income) EBITDA (Excl. Other Income) (K Cr & Margin) (K/ton)

12%

18%

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9.5 4,780
4,440
8.1 8.2 4,256
Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24
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14%

1%

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851
975 1,043
19.2% 837
788 798
18.5%
16.7%
Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24
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Sales volume growth of 18% driven by

• High acceptance of premium products (@ 13% of Trade sales volume)

• Strengthening of ground sales team to push volumes

• Focused branding and promotion activities

• Network improvement through various initiatives/events

• ACTE: Personalized Technical services in Home building process contributed in volume growth

Consistent endeavor on cost reduction, efficiency improvements, volume expansion, synergies between cement business and Group, have contributed in profitability improvement

• EBITDA up by Rs 10 Cr by (1%)

• Vs Dec 23 lower realizations by Rs 380/T Cmt has resulted in lower EBITDA

Journey of business excellence continues….

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Ambuja Cement (Standalone) Cement Business (% Change YoY)

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RAW MATERIAL POWER AND FUEL FREIGHT AND FORWARDING OTHER EXPENSES
(K/ton) (K/ton) (K/ton) (K/ton)
4% 27% 5% 4%
475 1,280 1,154 677
1,051
444 932 1,119 574 548
428 1,098
Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24
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• Long term tie ups made for key raw materials help us in assured supply with optimized costs, which will result in reduction in raw material costs.

• Green power share increased by 9.2 pp to 21.9%

• Fuel basket optimization resulted in 16% reduction in Kiln fuel cost

• Network & Route optimization along with digitization initiatives have resulted in reduction in freight & forwarding costs

Reduction in cost by Rs 110/t, Journey of Cost leadership continues….

25

ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

ACC (Consolidated) Cement Business (% Change YoY)

Highest ever Sales Volume and Revenue over last 20 qtrs.

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SALES VOLUME - CLC
(MnT)
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REVENUE (K . Cr)

EBITDA (Excl. Other Income) (K Cr & Margin)

EBITDA

(Excl. Other Income) (K /ton)

23.5%

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10.4
8.9
8.5
Mar-23 Dec-23 Mar-24
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14%

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5,114
4,646
4,479
Mar-23 Dec-23 Mar-24
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38%

70%

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874
786
982
462 753
546
10.3% 18.8% 15.4%
Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24
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Sales volume growth of 23.5% driven by

• High acceptance of premium products (@ 34% of Trade sales volume)

• Solution oriented sales, large engagement of technical resources

• Improvement in network through various initiatives/events

• Improved physical infrastructure

• Focused branding and promotion activities

Consistent endeavor on cost reduction, efficiency improvements, volume expansion, synergies between cement business and Group, have contributed in profitability improvement

• EBITDA up by Rs 324 Cr by (70%)

• Margin expansion by 5.1 pp from 10.3% to 15.4%

• EBITDA PMT has improved 38% from Rs. 546 last year to now Rs. 753 PMT

• Vs Dec 23 lower realizations by Rs 290/T Cmt has resulted in lower EBITDA

Journey of business excellence continues….

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

ACC (Consolidated) Cement Business (% Change YoY)

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RAW MATERIAL POWER AND FUEL FREIGHT AND FORWARDING OTHER EXPENSES
(K/ton) (K/ton) (K/ton) (K /ton)
0% 16% 13% 10%
634 1110 1136 1172
932 622
579
616 616 1034 1021 557
Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24 Mar-23 Dec-23 Mar-24
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Long term tie ups made for key raw materials will help us in assured supply with optimized costs which will result in further reduction in raw material costs. IF FUTURE PERIODS

Other expenses reduced by 10% mainly due to

Freight and forwarding costs reduced by 13% & It’s expected to reduce further in coming quarters with various initiatives like

Power and Fuel costs have reduced by 16% (Rs 178/t) of cement

• Unified business model

• WHRS power mix has gone up by 1 pp to 8.2%

• 1 pp to 8.2% – Third party services Contract

• – Source and mix optimization – Renegotiation & Reverse bidding for renegotiations resulting in lower Kiln fuel cost freight – System based control from Rs 2.35 to Rs 1.91 /’000 kCal – Depo network remapping for mechanism for restricting cost

• – Maximization alternative fuel rationalization of secondary freight increase to minimum level –

• consumption Digitization: Implementation of GPS

• – Synergies with group companies for tracking of trucks movements,

• Synergies with group companies

Reduction in cost by Rs 606/t, Journey of Cost leadership continues….

27

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS
PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS
Capex updates
28
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ADANI GROUP ADANI CEMENT ADANI CEMENT PROFILE OVERVIEWOVERVIEW

PERFORMANCE PERFORMANCE ESG ACCOLADES & ABBREVIATIONS HIGHLIGHTSHIGHLIGHTS UPDATE AWARDS

Roadmap to 140 MTPA by 2028, @ 79 at present, 100 by 2026

Status Update Expected timelines for completion Capacity(MTPA) Expansion Project Cement Clinker - Land available, EC applied, expected Jul’ 24 Q2 FY’26 1.2 - Bathinda -Civil work 67 % completed, Overall project 30 % completed Receipt of major equipment commenced Q4 FY'25 - 4.0 Bhatapara Line 3 (CU) - EPC contract awarded -- Project activities started Q2 FY'26 - 4.0 Maratha Line 2 (CU) - EPC contract awarded - 90% of pilling work & 52 % Civil work has been completed. Overall project 27 % completed. Q3 FY'25 2.4 - Sankrail (GU) - EC recd. LOI Issued, EPC contract to be awarded by May’24 - Pre project activities started Q2 FY'26 2.4 - Marwar (GU) - Phase I, 2.4 MTPA and balance will be taken as Phase II - EPC contract awarded, 87% of pilling work & 40 % Civil work has been completed. Overall project 27 % completed. Q3 FY’25 (Phase I) 4.8 - Farakka (GU) - EPC contract awarded - Project activities started Q4 FY'25 1.6 - Sindri (GU) - EPC contract awarded - Project activities started Q1 FY'26 2.4 - Salai Banwa (GU) - CTE / EC approvals expected by May’24 - LOI Issued - Pre Project activity under progress Q3 FY'26 (1st Line) Q1 FY'27 (2nd Line) 4.8 - Mundra (GU) 19.6 8.0 Total In addition, Board has also approved – 2.25 MTPA Clinker Unit in Mundra (Calcium Hydroxide process) – 17 Cement Grinding Units (2.4 MTPA) each identified at 17 locations (Land acquisitions and statutory approvals for these projects are under progress) Capacity Details: Mn T Existing Capacity 79 Projects under execution 20 Addl. Projects at various stages 41 Total Capacity 140 Out of the total capex, Greenfield projects – 55% Brownfield projects – 45%

Capacity Details: Mn T Existing Capacity 79 Projects under execution 20 Addl. Projects at various stages 41 Total Capacity 140 2929

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•
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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Adani Cement – Capacity Enhancement Enablers

Cement Capacity (Mn T)

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140
77
FY'24 FY'28
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1. Land: land already in possession/ available with group / in advance stages of acquisition

2. Limestone: Cumulative ~8000 Mn MT limestone reserve in possession at NIL to nominal premium

3. Raw Material: 40 % of Fly Ash requirement under long term arrangement (will increase to 50%+ by 2028)

4. Enterprise Risk Management: better enterprise risk management, 65% of total cost of cement has synergies with group or where Group is market leader

5. Ground Network: Ground network (1,00,000+ channel partners), stronger brand equity will facilitate improved volumes and margins

6. Strong Balance Sheet: Ambuja continues to remain debt free with net worth of Rs 59,185 Cr , cash and cash equivalents of Rs 24,338Cr and Crisil AAA (stable) / A1+ credit rating maintained.

Adani Cement business will implement its accelerated capex program through internal accruals. Business will continue to remain debt free

• including warrant money of Rs. 8,339 Cr received in April ‘24

30

ADANI GROUP	ADANI CEMENT	PERFORMANCE	ESG	ACCOLADES &	ABBREVIATIONS
PROFILE	OVERVIEW	HIGHLIGHTS	UPDATE	AWARDS

Ambuja Cement (consolidated): Cash & Cash Equivalents position

Synopsis of the movements in Cash & Cash Equivalent

Particulars	KCrs
Opening balance as on 1st Apr 2023	11,530
(+) Cash flow from operating activities	5,646
(+) Cash flow from Investing activities	(7,137)
(+) Cash flow from Financing activities	5,637
Free Cash (other than lien marked )- as on 31st Mar 2024	15,676
(+) Lien marked cash for CCI and other ongoing court	323
Total Cash & Cash Equivalents	15,999
Total Cash & Cash Equivalents (including warrant money of Rs. 8,339 Cr received in April ’24)	24,338

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Cash & Cash Equivalent for the last Seven quarters
24,338 [#]
15,999
11,358 11,530 11,886 11,721
9,454
8,591
8,142
7,488 7,267
Dec-21 Jun-22 15th Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Sep’22
Under Holcim Under Adani Family
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Capex growth from existing 78.9 to 140 MTPA will be met through internal accruals and operating cash flows

Net worth increased by K 12,089 Crs during FY’24 and now

stands at K 50,846 Crs. *

Company remains Debt Free

Crisil AAA (stable) / Crisil A1+ ratings maintained

• With balance share warrant money receipt this will go up to Rs 59,185 Cr

including warrant money of Rs. 8,339 Cr received in April ’24 this will go up to Rs 24,338 Cr

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS
PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS
ESG
04 Overview
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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

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Adani Cement: Stakeholder value creation

Environmental Society

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• Spend of ~Rs 300 Cr on various social development program (direct/partnership - Rs 97/203 Cr)

• • Outreach in 13+ states benefiting 3.3 Mn people through community development projects

• Committed to SBTi and GCCA for being Net Zero by 2050

• Strong commitment to Sustainable Development (SD) 2030 Plan

• Major investments in Renewable Energy and WHRS

• Focus on Agro based livelihood, Water conservation, Health & Sanitation, Women Empowerment, etc.

• Geoclean, EcomaxX, AFR, alternate raw materials etc to build circularity & accelerate green products

• Focus on water positivity and circular economy

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Governance
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• Enhanced Governance - In addition to the statutory committees, there are 7 additional committees/sub-committees represented by independent directors

• Legal, Regulatory & Tax Committee

• Corporate Responsibility Committee

• Public Consumer Committee

• Information Technology and Data Security Committee

• Mergers and Acquisitions Committee

• Commodity Price Risk Committee

• Reputation Risk Committee

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS
PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS
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ESG Framework

Adani Group Vision & ESG Framework

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Vision Policies Guiding principle
To be a world class leader in businesses that
E S G
enrich lives and contribute to nations in
building infrastructure through sustainable
value creation. Assurance Commitment
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Our ESG Ambition

• Net Zero ESG Reporting Framework

• • Waste to Resource • Water Positive • Biodiversity Positive • Zero Harm • Engaged Communities • Zero Non-Compliance

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ESG Rating Agencies
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We are aligned with above ESG Reporting Frameworks & rated by these Rating Agencies

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS
PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS
ESG Highlights FY24 (Ambuja Conslidated)
Net Zero Commitment Renewable and Green Energy Circular Economy Carbon Emissions – Scope I
Committed to Net Zero by 2050 with 16.8% 21.3 million tonnes of waste derived Kg/tonne of cementitious material
Near-Term (2030) targets varified resources used Ambuja – 559; ACC – 505
Water Positive Plastic Negative Trees Planted Clinker Factor
Ambuja - 11x; ACC – 1x Ambuja - 8x; ACC – 7x 6.4 million trees painted till FY24 60.0 %
CSR beneficiaries CSR Spent Local sourcing of raw material Traning hours
4.7 million 87 crore Ambuja - 93%; ACC – 99% from 19 training hours/employee
within India
Independent Directors Data Security Anti-bribery and anti-corruption Ethics and Integrity
100% Board Committees chaired by Zero complaints Zero complaints Zero complaints
Independent Directors
% of attendance of Board members 93%
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*evaluation of Independent Directors by reputed firm

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Tax Transparency Report Contribution towards economic development & sustainability Rs 13,361 Cr (FY’23)

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS
PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS
ESG Ratings
RATING AGENCIES AMBUJA ACC
DJSI(2023) 60 61
CDP - CC A- A-
CDP - WS B
B
Sustainalytics 25.1 Medium 27.6 Medium
risk risk
B -
MSCI
CRISIL
52 (Adequate)
52 (Adequate)
(Dec 2021)
With our Ongoing projects for Solar, Wind & WHRS at an investment of Rs 10,000 crore 36
–
Scope 2 Carbon Emissions will reduce substantially
–
Will reach 60% Green Power share by FY’28
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ADANI GROUP ADANI CEMENT PERFORMANCE PROFILE OVERVIEW HIGHLIGHTS

ESG ACCOLADES & ABBREVIATIONS UPDATE AWARDS

ESG Dashboard

Material topic	Ambuja	ACC	UN SDGs
	*	*
Climate & Energy (Net specific CO2 emissions - Kg/T, without CPP) Circular Economy (Use of waste derived resources MnT/yr) Water & Nature People & Community (Number of beneficiaries – million)	453 518 21 8.6 10x Water positive 11x Water positive 3.5 3.27	400 466 30 12.0 5x Water positive 3.5 1.4 1x Water positive
Management confident of achieving ESG		targets ahead of schedule time

• Annualised

3737

ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

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Corporate Social Responsibility (Ambuja Consolidated)

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Government Scheme Integration

Water Conservation initiatives

Women Income Generation Initiatives

– Amount spent towards CSR obligations Rs 87 Cr

– No of beneficiaries

• Drinking Water: 85,740 Individuals

• Water Harvesting : 91,845 Individuals

• Agro-Based Livelihood : 2,54,000 farmers

• Skill Development : 8420 rural youth trained (cumulative: 73,472 rural youth trained)

• Community Health : 5,27,233 Community Members

• Women Empowerment : 38,987 Women in 3382 SHGs

• Quality Education : 218 Schools, 26,177 Students

• 4,35,289 Trees planted

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

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Board & Committee Structure

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Board of Directors
Statutory Committees Governance Committees
Audit CSR Nomination & Corporate Responsibility Public Consumer
Committee Committee Remuneration Committee Committee Committee
Stakeholder Relationship
Risk Mgt. Committee Key committees like Audit, NRC, CRC & Public Consumer Committee
Committee
comprise of 100% independent directors
Reputation Risk Committee
M&A Committee
Commodity Price Risk Committee Meeting Frequency : Composition:
Info.Tech & Data Security Committee Quarterly 100% Independent
Half Yearly 75% Independent
Legal, Regulatory & Tax Committee As and when 50% Independent
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• Every year independent evaluation of Independent Directors 93 % Board attendance

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS

Accolades & Awards

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Ranks among Top 100 Most Valuable Companies in India by Business Today 4242

ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS Accolades & Awards 01 02 03 04

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India’s Most Trusted Cement Brand 2024’ by TRA Research

Ranks among Top 100 Most Valuable Companies in India by Business Today

Gold & Silver category in SKOCH Awards 2024 for excellence in ESG

Global Sustainability Leadership Award

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ADANI GROUP ADANI CEMENT PERFORMANCE ESG ACCOLADES & ABBREVIATIONS PROFILE OVERVIEW HIGHLIGHTS UPDATE AWARDS Accolades & Awards 05 06 07 08

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International Safety Award 2024 by British Safety Council for excellence in workplace safety practices

ACC Earns Five Accolades at 3rd National Sustainability Awards by QCFI

‘Most Engaging Loyalty Program’ & ‘Loyalty Champion Award’ at the Digital Customer Experience Confex 2024

Industrial Safety & Occupational Health Award by ICC & Govt of Odisha

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ADANI GROUP	ADANI CEMENT	PERFORMANCE	ESG	ACCOLADES &	ABBREVIATIONS
PROFILE	OVERVIEW	HIGHLIGHTS	UPDATE	AWARDS

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Abbreviations

ATGL	Adani Total Gas Ltd	MnT.	Million Tonne	CCI	Competition Commission of India
AEL	Adani Enterprises Limited	CLC	Clinker and Cement	SIL	Sanghi Industries Limited
APSEZ	Adani Ports and Special Economic Zone Limited	T	Tonne	ESG	Environmental, Social & Governance
AESL	Adani Energy Solutions Limited	L	Litre	B2C	Business to Consumer
APL	Adani Power Limited	AFR	Alternate Fuels and Raw Material	Mgmt.	Management
AGEL	Adani Green Energy Limited	WHRS	Waste Heat Recovery System	ENOC	Energy Network Operation Centre
AAHL	Adani Airport Holdings Limited	MTPA	Million Tonne Per Annum	FI	Financial Institution
ARTL	Adani Roads Transport Limited	BCT	Bulk Cement Terminal	RMX	Ready- Mix Concrete
ANIL	Adani New Industries Limited	IHB	Individual Home Builder	BCCI	Bulk Container Corporation of India
AWL	Adani Wilmar Limited	GU	Grinding Unit	IHB	Individual Home Buyer
ADL	Adani Digital Limited	NQXT	North Queensland Export Terminal	UoM	Unit of Measurement
NDTV	New Delhi Television Ltd	T&D	Transmission & Distribution	PMT	Per Metric Tonne
AIMSL	Adani Infra Mgt Services Pvt Ltd	IPP	Independent Power Producer	GPS	Global Positioning System
GMTN	Global Medium-Term Notes	PVC	Polyvinyl Chloride	KPI	Key Performance Indicators
SLB	Sustainability Linked Bonds	O&M	Operations & Maintenance	AGT	Additional Goods Tax
IG	Investment Grade	HVDC	High voltage, direct current	DWT	Dead-Weight Tonnage
LC	Letter of Credit	PSU	Public Sector Undertaking	LOI	Letter of Intent
DII	Domestic Institutional Investors	NBFC	Non-Banking Financial Company	EPC	Engineering, Procurement and Construction
SBTi	Science Based Targets initiatives	GCCA	Global Cement Concrete Association	CU	Clinkerization Unit

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46

ADANI GROUP	ADANI CEMENT	PERFORMANCE	ESG	ACCOLADES &	ABBREVIATIONS
PROFILE	OVERVIEW	HIGHLIGHTS	UPDATE	AWARDS
Abbreviations

ML/CL	Mining Lease/ Composite Lease	MSCI	Morgan Stanley Capital International
SD	Sustainable Development	DJSI	Dow Jones Sustainability Index
SHG	Self Help Group	CDP-CC	CDP Climate Change
WASH	Water, Sanitation & Hygiene	CDP-WS	CDP Water Security
MHM	Menstrual Hygiene Management	UN SDG	United Nations Sustainable Development Goals
CII	Confederation of Indian Industry	APEX	Publication Excellence Competition
OPD	Out-Patient Department	IPLA	International Partnership for Expanding Waste Management
			Services of Local Authorities
NRC	Nomination and Renumeration Committee
		UPES	University of Petroleum and Energy Studies
CRC	Corporate Responsibility Committee
		TCFD	Task Force on Climate-related Financial Disclosures
CSR	Corporate Social Responsibility
		ICC	Indian Chemical Council
MW	Million Watts
RPO	Renewable Power Purchase Obligation	QCFI	Quality Circle Forum Of India
		CTE	Consent to Establish
OH&S	Occupational Health and Safety
TSR	Thermal Substitution Rate	WBCSD	World Business Council for Sustainable Development
		IUCN	International Union for Conservation of Nature
SoX	Sulphur Oxide
NoX	Nitrogen Oxide	BCFC	Bottom Discharge Wagon
ISO	International Organization for Standardization
PPA	Purchasing Power Agreement

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Disclaimer

Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Ambuja Cements Limited (“Ambuja”), the future outlook and growth prospects, and future developments of the business and the competitive and regulatory environment, and statements which contain words or phrases such as ‘will’, ‘expected to’, etc., or similar expressions or variations of such expressions. Actual results may differ materially from these forward-looking statements due to number of factors, including future changes or developments in their business, their competitive environment, their ability to implement their strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in India. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell, any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of Ambuja’s shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of Ambuja.

Ambuja, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation. Ambuja assumes no responsibility to publicly amend, modify or revise any forward-looking statements, based on any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. Ambuja may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes.

No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of Ambuja.

This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of this presentation should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom.

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MR. DEEPAK BALWANI

Head - Investor Relations deepak.balwani@adani.com

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