Ambuja Cements Ltd. — Investor Presentation 2021

Feb 18, 2021

ACL:SEC:

February 18, 2021

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Dear Sir,

Sub: Investor Presentation on the Financial Results for the quarter and year ended December 31, 2020

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) -Regulations 2015, please find enclosed the Investor presentation on financial results for the quarter and year ended December 31, 2020.

Kindly take the same on record.

Thanking you ,

Yours faithfully, For Ambuja Cements Limited

i~'\l f"'..GrQY'i?~ . '

Rajiv Gandhi Company Secretary Membership No. A11263

AMBUJA CEMENTS LIMITED

Elegant Business Park, MIDC Cross Road 'B', Off Andheri Kurla Road, Andheri (E), Mumbai 400059. Tel.: 022- 4066 7000 I 6616 7000, Fax: 022 - 6616 7711 I 4066 7711 . Website: www.ainbujacement.com Regd. Off. : P. 0 . Ambujanagar, Taluka - Kodinar, Dist. Gir Somnath, Gujarat. CIN: L26942GJ1981 PLC004717

Safe-harbour statement

This presentation may contain certain forward-looking statements relating to Ambuja Cements Ltd. ("Ambuja", or "Company") and its future business, development and economic performance. These statements include descriptions regarding the intent, belief or current expectations of the Company, its subsidiaries and associates and their respective directors and officers with respect to the results of operations and financial condition of the Company, subsidiary or associate, as the case may be. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. Company assumes no obligation to update or alter forward-looking statements whether as a result of new information, future events or otherwise. Any forward-looking statements and projections made by third parties included in this presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

This presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this presentation. This presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this presentation is expressly excluded.

This presentation and its contents are confidential and should not be distributed, published or reproduced, in whole or in part, or disclosed by recipients directly or indirectly to any other person.

Company Overview

S l i d e 5 - 1 0

• 5 A robust foundation
• 6 Parentage
• 7 Solid fundamentals
• 8 Delivering with a diverse portfolio
• 9 Strong presence with strategically located plants
• 10 Recognition of our strength

Performance Highlights

S l i d e 1 2 - 1 9

• 12-13 Performance in Q4CY2020 Performance in CY2020
• 14 Robust performance, despite COVID-19 induced challenges
• 15 Financial results Standalone
• 16-18 Performance analysis
• 19 Financial results Consolidated

Strategic Priorities

S l i d e 2 6 - 3 4

• 26 Near-term focus areas
• 27 Long-term strategic priorities
• 28 Market share
• 29 Special products
• 30 Enhance efficiency
• 31-33 Sustainability goals
• 34 Corporate Social Responsibility

Governance

S l i d e 3 6 - 3 7

• 36 Highest level of governance
• 37 Board of Directors

External Environment

S l i d e 2 1 - 2 4

• 21 Megatrends
• 22 A closer look at cement sector
• 23 Catalysts for growth
• 24 Our response to opportunities

Appendix

S l i d e 3 9 - 4 5

• 39 COVID-19 Update: Quick and decisive actions
• 40 Operational performance
• 41 Profit and Loss and Balance Sheet trend
• 42 Environment, social and governance
• 43 Shareholding pattern

Company Overview

A robust foundation

Our Vision

To be the most sustainable and competitive company in our industry

One of India's leading cement manufacturers with a strong presence across North, Central, West and East India

Differentiated product portfolio for diverse climatic conditions

Our Purpose

To create value for all

• Delighted Customers
• Inspired Employees
• Enlightened Partners
• Energized Society
• Loyal Shareholders
• Healthy Environment

Modern integrated plants; grinding units located closer to key markets

Responsible manufacturing (Resource Optimisation, GHG emission reduction and Prudent water utilisation)

Community integration (water conservation, livelihood generation, health, sanitisation and education)

• Part of LafargeHolcim Group, a leading global conglomerate engaged in cement production, aggregates and ready-mix concretes
• Sustainable products and solutions with a focused approach towards social and environmental sustainability
• Sharp competitive edge, driven by innovation
• Ambuja Cement acquired 50.05% of shares of ACC in August 2016
• Collaboration & support from LafargeHolcim to support Ambuja's growth and strategy

LafargeHolcim facts

70 Country-presence

2,300 Operating sites worldwide

Group synergies

Ambuja Cement & ACC inked a Master Supply Agreement (MSA) in 2018, to achieve economies of scale, reduce operational costs and strengthen business sustainability.

Patent families

170

~72,000 Employees

Patents related to low-carbon solutions

	Operational	29.65MTPAInstalled cementcapacity	75%Capacity Utilisation	291MWCaptive powerplant capacity
	People, partnersand community	5,046Employee base	~50,000Channel partners	2.7MNCSR beneficiaries
As on December 2020	Environmentand governance	2.5xPlastic negative	8XWater positive	Strong IndependentBoard

7 COMPANY OVERVIEW

Delivering with a diverse portfolio

• High-strength and highperformance Portland Pozzolana Cement (PPC), Ordinary Portland Cement (OPC) and Blended cement across grades
• Focus on growth of Special Products
• Services addressing three main customer segments – individual home builders, masons and contractors, and professionals
• Ambuja Knowledge Centre helps in enhancing the knowledge base of architects, engineers and construction (AEC) professionals

Strength for the core

Strength for the decor

Strong presence with strategically located plants

Our integrated plants and grinding units are present in more than 11 states covering more than 32 districts across Northern, Central, Western and Eastern parts of the country

Integrated cement plants

• 1. Ambujanagar, Gujarat
• 1. Darlaghat, Himachal Pradesh
• 1. Maratha Cement Works, Maharashtra
• 1. Rabriyawas, Rajasthan
• 1. Bhatapara, Chhattisgarh
• 1. Marwar Mundwa, Rajasthan *

Bulk cement terminals

• 1. Muldwarka, Gujarat
• 1. Panvel, Maharashtra
• 1. Kochi, Kerala
• 1. Surat, Gujarat
• 1. Mangalore, Karnataka

Grinding units

• 1. Roopnagar (Ropar), Punjab
• 1. Bathinda, Punjab
• 1. Sankrail, West Bengal
• 1. Roorkee, Uttarakhand
• 1. Farakka, West Bengal
• 1. Dadri, Uttar Pradesh
• 1. Nalagarh, Himachal Pradesh
• 1. Surat, Gujarat

Head/Corporate office Mumbai, Maharashtra

Registered office Ambujanagar, Gujarat

* To be commissioned in Q2 2021

9 COMPANY OVERVIEW

Recognition of our strength

Ambuja True Value Case study has been picked up by several business schools for teaching during 2020 such as IESE Business School (Spain), College of Commerce, National Chengchi University (Taiwan), Centrale de Cas et de Médias Pédagogiques (France) in addition to Harvard Business School (US) and Ivey Business School (Canada).

Based on our Dow Jones Sustainability Indices Ambuja Cement is included in The Sustainability Yearbook 2021 Worldwide Rankings and also received the Bronze Class distinction for its excellent sustainability performance. We are among the world's highest performing sustainable companies as declared by Dow Jones Sustainability Indices (SAM ESG Research).

Ranked 5th globally in the Dow Jones Sustainability Indices Worldwide in Construction Materials category, the only Indian Cement Company to achieve this feat.

Conferred with the prestigious 'Best Customer Service Initiative' award at the Customer FEST Leadership Awards 2020 in recognition of its unique 'Ambuja Certified Technology'.

Ranked at 6th position across industries in India for positively contributing towards achieving Sustainable Development Goals in the 6th edition of Responsible Business Rankings by Futurescape.

The Rabriyawas plant was awarded the top slot in the prestigious Energy Conservation Award under the Industries Category (Cement) on the

occasion of Energy Conservation Day.

Performance Highlights

Robust financial performance, supported by volume, price, cost actions and efficiency improvement in Q4 2020

CLC – Cement + Clinker

* Adjusted for reversal of deferred tax liability of ₹ 103 crore, on account of adoption of new income tax rate in December 2019 quarter

Sharp focus on cost resulted in EBITDA growth of 23%, despite challenges in volume in Full Year 2020

CLC – Cement + Clinker

* Adjusted for reversal of deferred tax liability of ₹ 103 crore, on account of adoption of new income tax rate in December 2019 year

Robust performance, despite COVID-19 induced challenges

Financial results – Standalone

	Quarter Ended December 2020		Year Ended December 2020
(all amount in ₹ Crore)	Q4 2019	Q4 2020	Change (%)	2019	2020	Change (%)
Net Sales	3038	3468	14%	11,353	11,175	-2%
EBITDA	548	768	40%	2,149	2,647	23%
EBITDA Margin (%)	18.0%	22.1%	4.1pp	18.9%	23.7%	4.8pp
Operating EBIT	399	642	61%	1605	2125	32%
OperatingEBIT Margin (%)	13.1%	18.5%	5.4pp	14.1%	19.0%	4.9pp
Profit Before Tax (PBT)	441	658	49%	1,948	2,414	24%
Tax Expenses *	89	161	80%	522	624	20%
Profit After Tax (PAT)	352	497	41%	1,426	1,790	26%

* Adjusted for reversal of deferred tax liability of ₹ 103 crore, on account of adoption of new income tax rate in December 2019 quarter and full year

Performance analysis – Q4 2020 vs Q4 2019 and CY 2020 vs CY 2019

• Sales volumes grew by 7% for the quarter, also registered the highest ever cement production during this quarter.
• Sales Volumes grew across regions from H2 2020.

Realisations per tonne grew 6% for the quarter and ~5% for the full year supported by growth in price across regions mainly North region.

EBITDA (₹/tonne)

EBITDA per Tonne grew by 30% for the quarter ended December 2020 and 31% YoY basis for the full year end 2020 supported by growth in Special products, cost reduction and operational efficiency programs.

Performance analysis Q4 2020 vs Q4 2019 and CY 2020 vs CY 2019 (Contd.)

Power and fuel Cost (₹/tonne)

Power and fuel per tonne cost declined 3% for the quarter ended December 2020 and ~8% for the full year 2020 due to favourable market trends, renegotiations of contracts and efficiency gains.

Freight and forwarding Cost (₹/tonne)

• Freight and forwarding per Tonne costs declined by 4% for the quarter ended December 2020 and 2% YoY basis for the full year end 2020 due to improvement in logistics efficiencies.
• In addition Master Supply Agreement helped in further cost optimisation.

Raw material Cost (₹/tonne)

Raw Material per Tonne costs declined 3% for the quarter ended December 2020 and ~7% for the full year driven by lower input costs, better raw material mix and usage of wet fly ash.

Performance analysis Q4 2020 vs Q4 2019 and CY 2020 vs CY 2019 (Contd.)

Other Expenses (₹/tonne)

Other expenses per tonne declined by 8% for the quarter and full year due to constant focus on fixed cost optimisation and operating leverage i.e. volume increase in the last quarter.

Total Cost (₹/tonne)

Total cost per tonne declined by 2% for the quarter ended December 2020 and by 3% for the full year on account of lower raw material, power & fuel and freight costs.

Financial results – Consolidated

	Quarter Ended December 2020		Year Ended December 2020
(all amount in ₹ Crore)	Q4 2019	Q4 2020	Change (%)	2019	2020	Change (%)
Net Sales	6,963	7,350	6%	26,539	24,094	-9%
EBITDA #	1,117	1,472	32%	4,597	5,135	12%
EBITDA Margin (%)	16.0%	20.0%	4 pp	17.3%	21.3%	4 pp
Operating EBIT #	807	1,188	47%	3,444	3,973	15%
OperatingEBIT Margin (%)	11.6%	16.2%	4.6 pp	13.0%	16.5%	3.5 pp
Profit Before Tax (PBT)	856	948	10.8%	3,875	3,992	3%
Tax Expenses	134	(20)	-115%	1,092	885	-19%
Profit After Tax (PAT)	722	968	34%	2,783	3,107	12%
Profit After Tax and minority	592	732	24%	2,095	2,365	13%

# Excluding charge of ₹ 129 crore in December 2020 quarter and full year

External Environment

Megatrends

Population

India stood at 1.38 billion in 2020; expected to touch 1.64 billion by 2050

Nuclearisation

Urbanisation

Average size of household in India declined from 5.3 members in 2011 to 4.6 members in 2019. Smaller households expected to add about 6-7 million households per year

India stood at 34.41% in 2020; expected to increase to

India's per capita income increased from ₹74,193 in 2014-15 to ₹1,34,226 in 2019-20; and the interest rates have reduced from 6.75% in 2015 to 4% in 2020

40% by 2030, resulting in a housing shortage

With a strong working-age population

*Source: UN Population Prospects, 2019

Budget 2021-22*

*Source: ICRA

• Continued focus on the infrastructure sector and rural economy in the Union Budget 2021 is likely to have a positive impact on the cement industry.
• Housing accounts for 60–65% of the total cement demand. The focus on agriculture and rural development is expected to boost rural demand, including demand for rural housing.
• Tax benefit for affordable housing projects extended till Mar-22.
• On the infrastructure side, the focus on transport infrastructure—increase in allocation by 34.9% for roads, 8.7% for metros and 33.6% for railways in BE FY2022 over BE FY2021.
• Setting up of a new Development Finance Institution with an initial allocation of ₹20,000 crore is a positive with respect to infrastructure financing. Further, the Government's aim to have a lending portfolio of at least ₹5 lakh crore for this DFI in three years reflects its focus on facilitating continued infrastructure financing.

Government focus

Income and affordability

Constant support from the Government has been driving the construction and infrastructure space in India

A closer look at cement sector

• India is the second-largest cement producer and secondlargest consumer of cement in the world. However, India's per capita cement consumption is ~200-250 kg, lower than the global average of 500-550 kg, providing strong headroom for growth.
• Cement industry has strong linkages with other sectors - Infrastructure, Real Estate and Housing and Commercial segment.
• Post recovery from COVID-19, it is expected that cement demand to grow in range of 15-17% year on year i.e. CY 2021 vs CY 2020.

Cement demand in India Cement demand in India

Internal estimate

Lower per capita cement consumption in India provides room for growth

Catalysts for growth

Affordable housing segment 1,08,00,000

The Ministry of Housing and Urban Affairs estimated an affordable housing shortfall of ~10 million units, attracting government priority.

Total houses sanctioned under PMAY

₹27,500lakh crore

Towards Pradhan Mantri Awas Yojana*

Infrastructure spending

India is expected to attract investment worth ₹50 trillion (US$ 777.73 billion) in the infrastructure space by 2022 to drive sustainable development.

₹111lakh crore

Projected investments in National infrastructure Pipeline (NIP)

Rural demand aided by strong execution under PMAY-G*

		₹Bn
	9MFY20	9MFY21
Rural development	935	1,573
Agriculture	843	976
Ministry of Road Transportand Highways	718	724

[Source: CRISIL]

*2021-22 budgetary allocation

*Pradhan Mantri Awaas Yojana - Gramin

Rural development

Spending likely to increase to over ₹1,800 billion as against budget of ₹1,200 billion.

Ministry of Road Transport and Highway (MoRTH)

Budgetary support to MoRTH in FY22BE ~7% higher than FY21RE; to lead to increased pace of construction.

Urban housing

Additional outlay of ₹180 bn over budgeted estimates announced in Nov-20 under PMAY-Urban; led to increased government funding thereafter.

Our response to opportunities

• Strong retail focus
• Increased penetration by entering new markets
• Customise our product mix based on construction segment
• Created influencer engagement to promote the brand
• Ensure continuous skill building of all our partners for long term business growth
• Capital allocation to meet growing demand

Housing remains the largest cement consumer

22 55 10 16 84 Housing Low-cost housing Infrastructure Industrial and commercial Retail Institutional

Ambuja Cement is focused on

the individual home builders

Expansions

• Setting up a greenfield plant at Marwar Mundwa (3.0 MTPA clinker; 1.8 MTPA grinding).
• Setting up Waste Heat Recovery System at Darlaghat, Bhatapara and Marwar Mundwa.
• Railway Siding at Rabriyawas.
• Underground mining development at Gare Palma Coal block.
• Planned additional capex as part of efficiency improvement plan.
  • o Installation of Fly ash dryers / Hot air generators.
  • o Waste Heat Recovery System capacities.
• Evaluating further capacity expansions.

Strategic Priorities

Near-term focus areas – Health, Cost and Cash in Full year 2020

• Protecting the physical and mental health of our employees.
• Ensuring safety of our people, partners and communities under the guidance of Business Resilience Team (BRT).

34.41 lacs

Lives touched during COVID relief efforts

• I CAN program yielded results.
• Optimization of sourcing through effective negotiations.
• Managing supply chain effectively
• Enhancing usage of alternative fuel resources.

• Focusing on receivables management to drive cash generation.
• Strong cash flows from operations led by efficient working capital management.

480 basis points

EBITDA margin expansion supported by efficiency and cost reduction initiatives in full year 2020

₹ 2,606 crore

Cash flow from operations ₹ 2,606 Crore led by improved performance & efficient working capital management.

Long-term strategic priorities

Our strategy aims to deliver strong returns to shareholders, best-in-class and sustainable products to customers and consistent value to all stakeholders

Priority 01 Market share

• Capacity expansion
• Enhance distribution reach
• Customer engagement

Priority 02 Special products

• Kawach A Water repellent cement
• Ambuja Plus Higher strength cement
• Ambuja Compocem

Priority 03 Cost optimisation

• I CAN Program
• Logistics efficiency
• Digitalisation

Priority 04 Sustainability

• Protecting the environment
• Strengthening human capital
• Community Development

Capacity expansion to sustain growth Enhance distribution reach

Greenfield integrated plant Nagaur, Rajasthan

Further expansion of new capacities

Installation of fly ash dryers will ensure adequate availability of Dry Fly Ash

3.0 MT clinker 1.8 MT cement

31.45 MTPA Installed capacity in 2021 post-completion of expansion

Appointed 600 new dealers in the markets of Bihar, Madhya Pradesh, and Eastern Uttar Pradesh thus increasing our presence

~46,000 contractors actively working with Ambuja Team

Regional distribution-mix (2020)

Regions	Grindingunits	Supportingwarehouses
WesternIndia	1	116
NorthernIndia	5	108
EasternIndia	2	91
CentralIndia	0	82

Customer Engagement

Developed various digital platforms to engage all our stakeholders

• Ambuja Dealer Connect for our channel partners
• My World For customer services
• Ambuja Abhiman for our contractors
• Ambuja Knowledge Centre for our professionals (AEC Community)

Ambuja Knowledge Centre

30 knowledge centres across India, engaging with architects, engineers and contractors; providing them relevant knowledge and training

Driving superior value proposition through leveraging Group's global research and development capabilities

• Strengthened Ambuja Certified Technology, a unique holistic packaged solution, handholding the customer in choosing the right contractor, right products, and right construction methods to build a strong and durable home
• Launched Ambuja Kawach a water repellent cement in Dec'19 and now Kawach is present in over 15 states
• Launched Ambuja-Plus in the high-strength cement category
• First company to launch Portland Composite Cement, Ambuja Compocem, providing higher strength with lower carbon footprint
• Grew our Special products portfolio by ensuring lower lead time, higher profitability and 24*7 availability of technical services for our channel partners

Key value-added products

• Ambuja Kawach
• Ambuja Plus
• Ambuja Compocem
• Ambuja Cool Wall & Blockol
• Ambuja Masonry Products
  • o Tile adhesives
  • o Wall putty
  • o Ready mix plaster
  • o Waterproofing solution

Cost optimisation driving bottomline

• Launched I CAN Program to reset the cost base in manufacturing and supply chain
• Started multiple initiatives on predictive quality and maintenance
• Initiated an AI-based platform 'EDGE AI' to facilitate rapid deployment of predictive models and seamless connectivity to plant data sources

• Enhanced use of alternative fuels and waste materials to reduce operating cost
• Installing waste heat recovery system and solar power plants across locations to provide significant cost advantage

• Rolled out a new integrated business planning tool, Blue Yonder, to strengthen our logistics and overall business efficiency
• Use of technology and real-time visibility of analytics enabled through the one-of-itskind Transport Analytics Centre
• Reduce distribution cost / T by route & distance corrections, optimal network design and statistical demand forecasting

Launched our contractor loyalty programme, upgraded our dealer services app, sales force app and adopted business WhatsApp for better dealer connect

SD 2030 Plan

Aligned with LafargeHolcim's Sustainability Strategy, the Sustainable Development Ambition 2030 provides critical impetus to the company's objective to achieve growth through sustainable operations.

5th

Global Dow Jones Sustainability Indices ranking of Ambuja Cement, only Indian cement manufacturing company in the Top 10

8X water positive

Ambuja Cement's water management performance in 2020

Zero fatality

Across all plants in 2020

Achieve sustainability goals (Contd.) 4

Climate and energy

• Specific net CO2 per tonne of cementitious product is 531 kg, reflecting a 31% decline in 2020 (1990 levels as the baseline)
• Renewable sources contributed to 12% of the total captive energy generated (7.9% in 2019)

Circular economy

• Co-processed around 83,138 tonnes of plastic waste in our kilns
• Consumed about 8 million tonnes of wastederived alternative raw materials (AR) such as fly ash, slag, phospo gypsum in the manufacturing process
• We consumed about 1.9 lakh tonnes of alternative fuels (AF) in the kilns and around 0.9 lakh tonnes of AF in our captive power plants in 2020.

Water and nature

• Reported 11% reduction in volume of water withdrawn to 5.8 million m3 from 6.5 million m3 in 2019 corresponding to a 7% reduction in cement production
• Increased freshwater withdrawal by 13% from 2019 levels owing to increased use of water for sanitisation and cleaning purposes
• Recycled around 15% of our total water withdrawal
• Discharged waste-water is less than 1% of our total water withdrawal

A-

Rating in carbon Disclosure Project (leadership band)

2.5X Plastic negative index for Ambuja Cement in 2020

90%

Share of blended cement in total cement production 77ltr Specific operational fresh water withdrawal per tonne of cement

New Waste Heat Recovery

Plants at Darlaghat, Bhatapara and Marwar Mundwa by 2022

54 MW

Creating a strong human capital

Recruitment

In place campus hiring programmes to recruit engineers and management trainees to ensure a talent pipeline.

Capability development

• Hold virtual sessions for specific needs of sales units/plants and functional teams.
• Large webinars addressing topics of business relevance with a focus on health, cash and cost.
• Driving organisation-specific learning programs.
• 8 training man-hours/employee achieved through Large/ small virtual sessions/online learning/ e-learning sessions.

Talent management

100%

Grade

• Initiated continuous dialogues with the employees to provide feedback on deliverables resulting in better performance management.
• Providing periodic inputs for merit increasing.
• Talent review and succession planning.

Talent Review for Management

Zero onsite fatality for the year.

• 6 Units (Dadri, Surat, Cochin, Roorkee, Dirk India and Coal Block) achieved Zero Harm.
• 13 Units achieved LTI free days.
• Dadri, Surat achieved more than 6 years LTI free and Dirk India achieved more than 3 years of LTI free days.
• 14.28% reduction in total onsite recordable injuries (LTI, MWD, MI) 30 in 2020 vs 35 in 2019.

0.28 Lost Time Injury Frequency Rate (LTIFR)

LTI - Lost Time Injury, MWD - Modified Work Duty

MI - Medical Injury, LTIFR - Lost Time Injury Frequency Rate

92% Average employee retention rate

88% of employees covered in 2020

Corporate Social Responsibility

Growing with the community through our CSR arm, Ambuja Cement Foundation

Water	Livelihood	Health and sanitisation	Education
105,000Beneficiaries of water related activities	2.1lakhsLives	8.6lakhsLives	10,000Lives
10,380Number of water harvesting andrecharge structures built duringthe year27,319Ha of watershed developed throughwater and soil conservation3River lift irrigation projectsundertaken in 2020	20Agri-entrepreneurs created32,777Women empowered throughSelf Help Groups (SHGs)14Farmers Producers Organisations(FPOs) made operational19.35croresSavings mobilised through Self HelpGroups	146Villages supported for achieving OpenDefecation Free (ODF) status9,347People reached through health camps71,787People combated HIV/AIDS throughART/STI centres	8Classroom and other schoolinfrastructure built

Governance

Highest level of governance

At Ambuja Cement, we strive to maintain the highest level of governance standards backed by superior values, ethics and policies.

Governance framework

	Components
Boardof Directors	Board members	1 Executive Director
Executivemanagement	Executive committeeManaging Director and CEO	5 NonexecutiveandIndependent
Committeesof Directors	Nomination and remunerationCSR and sustainabilityRisk managementAuditComplianceOthers	Directors9 Other Non-executiveDirectors

Core principles of governance

• Emphasis on values such as empowerment and integrity of its employees, safety of the employees and communities surrounding our plants, transparency in decision-making, fair and ethical dealings with all, pollution free clean environment
• Believes that its operations should ensure conservation and development of economic, social and environmental capital; and that the precious natural resources are utilised in a manner that contributes to the 'Triple Bottom Line'.

Board of Directors

NS Sekhsaria Chairman

Shailesh Haribhakti Independent Director

Mahendra Kumar Sharma Director

Jan Jenisch Vice Chairman

Dr Omkar Goswami Independent Director

Ranjit Shahani Director

Martin Kriegner Director

Shikha Sharma Independent Director

Praveen Kumar Molri Director

Nasser Munjee Independent Director

Christof Hassig Director

Ramanathan Muthu Director

Rajendra P Chitale Independent Director

Then Hwee Tan Director

Neeraj Akhoury Managing Director & CEO

Appendix

COVID-19 Update: Quick and decisive actions

Protecting employees and stakeholders

• Supported 14,770+ families, migrants and labourers with ration kits
• Contributed 15 ventilators, 14 oxygen concentrators and 5 oxygen cylinders
• Provided Personal Protective Equipment (PPE) kits, pulse oximeters, medical and infrastructural equipment
• Created livelihood opportunities 4.5+ lakh masks made and sold by women
• Created livelihood fund for different locations
• Participated in government campaigns in Gujarat, Rajasthan and Mundwa
• 183+ staff participated from across locations for online training program on Covid-19

Reaching out to local communities

• Work from home arrangements for all office employees
• Strict adherence to social distancing in plants and offices
• Webinars for mental wellbeing and resilience
• Focused promotion of "contactless'' digital initiatives

Responding as a business

• Creation of immediate strategic priorities
• Continuous communications with suppliers/customers / contractors for business continuity
• Quick restart of operation across locations, adhering to the government-prescribed guidelines

Operational performance

Cement Production (MT) 21.2 23.0 24.3 23.9 22.3 2016 2017 2018 2019 2020

Cement Sales Volume

Capacity Utilisation (%)

Clinker factor

EBITDA per tonne

Profit and Loss and Balance Sheet trend - Standalone

Operating EBITDA (₹ crore)

Net worth (₹ crore)

Capital employed (₹ crore)

Cash and cash equivalents (₹ crore)

Environment, social and governance

(kg) 543 550 530 531 531 2016 2017 2018 2019 2020

CO2 emission per tonne of cement

Dust emission per tonne of cement (gram)

Thermal substitution rate (%)

Plastic waste co-processes (tonnes)

Alternate fuel consumed (Lakh tonnes)

Lost Time Injury Frequency Rate (nos.)

Shareholding pattern

Category	No of shares(Million)	Percentage(%)
Foreign promoters –LH Group)	1,253	63.11
Foreign Investors (FIIS)	324	16.31
Mutual Fund Banks & Institution	270	13.62
OCB NRIS	12	0.61
Body Corporates	7	0.35
GDR	9	0.44
Others	110	5.56
TOTAL	1,986	100.00

Percentage of shares

CORPORATE OFFICE

Elegant Business Park MIDC Cross Road B Off Andheri -Kurla Road Andheri (E) Mumbai – 400 059

REGISTERED OFFICE

PO Ambujanagar Taluka Kodinar Gir Somnath district Gujarat – 362 715