GARWARE TECHNICAL FIBRES LIMITED — Investor Presentation 2023

Nov 21, 2023

•

BSE Limited Corporate Relationship Department, New Trading Ring, Rotunda Building, P. J. Towers, Dalal Street, Fort, Mumbai 400001. (Company code: 509557)

National Stock Exchange of India Ltd. Exchange Plaza, Plot No. C/1, 'G' Block, Bandra-Kurla Complex, Bandra East, Mumbai 400051. (Symbol: GARFIBRES, Series: EQ)

Sub:- Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sirs,

Pursuant to the aforesaid Regulations, please find)::;-elow the schedule of investor / analyst meeting / conference to be held as under.

Schedule of the Investor / Analyst Meet / Confer€~C9:

,	Investor	Mode	Type
Date	/ Event	of Meeting	of Meeting
November 24, 2023	Ltd. Ambit Capital Private Analyst / Investor's conference	- Physical	One-on-One / Group Meeting

Note: The above schedule is subject to change. Changes may happen due to exigencies.

A copy of the investor presentation to be made in the aforesaid meetings is enclosed for your reference and the same is also placed on the Company website i.e., www.garwarefibres.com.

The Company does not intend to discuss any Unpublished Price Sensitive Information during these interactions.

Please acknowledge this communications.

Thanking You,

Yours faithfully,

For GARWARE TECHNICAL FIBRES LIMITED

~ Sunil Agarwal Company Secretary M. No. FCS6407

SUNIL AGARWA L Digitally signed by SUNIL AGARWAL Date: 2023.11.21 20:54:39 +05'30'

Registered Office

Garware Technical Fibres Ltd. (Formerly Garware-Wall Ro es Ltd . PI T +91 20 2799 0000/0306 E pune_admin@garwarelibres.co!www·)·otNOIi·bU,BIOCk D-1, M.I.D.C.,Chinchwad, Pune 4U 019, India .

.garware res.com CIN: L25209MH1976PLC018939

GTFL:SEC:2023 November 21,2023

Better Ideas in Action

www.garwarefibres.com

Garware Technical Fibres Limited – At a Glance

• Pioneer in Technical Textiles in India
• 5000+ workforce with presence in 75 countries
• Producing 80MT per day & operating with 20,000 SKUs
• In top 25 India's Best Workplaces in Manufacturing Sector 2023
• Well qualified R&D team of 22 scientists including 4 Doctorates

Mission

"To Provide innovative, application focused solutions to enhance value of our customers globally"

Business Update

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www.garwarefibres.com

Aquaculture Business

Growing aquaculture

Salmon Prices Over the Last Few Years

Salmon prices have increased from 2.5 USD per kg in 2013 to 8.93 USD per kg in Nov 2023

Salmon Prices (\$ per kg) since Jan 2013

MOWI

• Record-high revenue of EUR 1358.6 million (EUR 1257.1 million)on all-time high harvest volumes of 135 000 GWT (133 808 GWT) in Q3 2023
• Operational EBIT of EUR 203 million Q3 2023.
• Operational EBIT for Norway EUR 2.15/kg (overall group EUR 1.5/kg)
• 2024 full year harvest volume guidance of record-breaking 500 000 GWT which is a new milestone for Mowi.

SalMar

• Operating revenue Q3 2023- 7512 million NOK vs 4898 million NOK in Q3 2022.
• Operational EBIT for the group was NOK 2,300 million in Q3 2023. Total harvest was 78,100 tonnes.
• Operational EBIT per kg was NOK 29.5
• Sales and Industry continued its solid operational performance.
• The standing biomass in Norway at the end of the third quarter 2023 is estimated to be 3% higher than the end of third quarter 2022.

Norway

Better Ideas in Action

Norway Aquaculture Industry Update

• After protracted negotiations Resource rent tax has been finalized at @ 25% as compared to the initial suggestion of @40%.
• The Tax is only applicable only for the sea based face of salmon farming.
• There are still some uncertainties on what sales price or income the tax will be based on.
• The average price of salmon (NASDAQ Salmon Index) for 2023 was NOK 78 per kg, compared to NOK 67 per kg the year before.
• Given the projected harvest volume, Companies are also looking at capex very closely and have planned investments.
• Our major customers have started placing orders and our Q4F24 reflects robust booking.

• Strategy to convert Large aquaculture companies in Norway from generic nylon cages to Value Added products.
• Penetration into Top 6 Aquaculture companies in Norway (accounting to 60% of total Norwegian Salmon production ) who are almost exclusive clients in Scotland , Canada and Chile .
• Set up trials in Norway with several companies of the leading farming companies. Promising initial results . Some of these top 6 are not currently GTFL customers in Norway. This can open 2 significant initiatives in the largest market:
• Entry into new customers and growth of share
• Significant upgrade from traditional products to patented products

V2 Update

Better Ideas in Action

Top Challenges in Aquaculture

• Causing an annual release of more than 1000 Tons of copper into Norwegian waters alone.
• This is added with current high cost of cleaning operation during the production cycle.

• Frequent net cleaning causes loss of appetite leading to reduced biomass growth

Key Challenges – Bio Fouling and Copper Sedimentation

V2 Nets –Norway

Site manager feedback – All nets has good shape, and mortalities finds its way up to LiftUP.

Service Company feedback – Easy to handle and install

Mowi Team – Nice, tight and firm shape in high currents also

SUSTAINABLE SOLUTION FOR AQUA FARMING – V2 NETS

Predator Cage Solutions

Better Ideas in Action

Sapphire - CFR

www.garwarefibres.com

Sapphire CFR Nets* – New age Predator Net

CFR Highlights

• Success of CFR in Scotland with biggest Salmon Farm
• Spread of CFR to other customers in Scotland for better predation protection.
• Breakthrough with Biggest farm in Norway with CFR as part of conversion from Nylon to Advanced HDPE based solutions
• Breakthrough and repeat business in Faroes top 2 customers
• Repeat business in Faroes Island for V2 CFR
• Conversion from conventional nets to CFR in Canada with biggest West coast customer
• Successful upgrade of Sealpro nets to CFR in Scotland
• Expect higher pace of conversion from conventional nets to CFR in 2024-25

Sapphire CFR

Sapphire X18

www.garwarefibres.com

• Traditionally in Chile Umbrella design is used For Predator Nets.
• Major reason due to less stiffness in netting allowing predator to push the Pred net towards cage and also to twist the net to break.

Focus on Voice of customer for Pred nets:

• Stiffer netting with better cut resistance
• Reduction in Diver time for installation and inspection
• Ease in operations- Harvest, Service boats
• Reduce rigging
• Ropes when cut by divers , ends up at shore

Voice of Customer: On Umbrella Design

Drop Down Vs Umbrella Design

• Four Chilean customers are now Using Drop down design and are planning to convert more sites to dropdown design.
• They have identified 50% reduction in installation time.
• Joining of panels can be done on walk ways in case of drop down design as compared to Umbrella design
• 90% divers time reduction in maintenance and repair cost compared to UHMPE
• No requirement for removal of rigging lines for boats as against Umbrella design.
• Overall there is a huge savings in operational cost by conversion into dropdown design as against the umbrella design.

• ➢ Lower risk of damage by vessels
• ➢ Less material required; Less square meters to clean
• ➢ Reduce Predation- No release of ropes during operations
• ➢ Simple mooring system less ropes and lines required
• ➢ Easy to handle
• ➢ Can make flexible dimensions compared to extruded net

Operational Benefits of X18 drop down

➢ At Netloft , Easy

➢ for washing due to stiffness and open mesh

➢ Repair and handling compared to extruded net

Operational Benefits of X18 drop down

Non Salmon

www.garwarefibres.com

Expansion in Non Salmon Species – a key agenda for growth

• 6 New customers added in: Panama, Mexico, Indonesia, Turkey, Srilanka, Brunei.
• 2 Active enquiries in Vietnam & Algeria
• Breakthrough with Top Tilapia Farms in Kenya
• Repeat orders in Indonesia.
• Repeat business in Turkey with value added products of V2 and Plateena Neo

Non Salmon Highlights

• Customer base expansion in different geographies of Non Salmon (LATAM to SEA)
• Targeting organized players in each market and competing with local competition with Value benefits and solutions
• Repeat order from these market a testimonial for benefits experienced
• Customized product solutions to capture the opportunity and improve on return profile in line with Salmon Market

New Product Development

Better Ideas in Action

IntelliNet – Concept to Reality

Concept trial at Institute of Marine Research, Norway

Planned Trial of Full Cage in Chile

Under discussion for a Prototype for 6 months in scotland

IntelliNet Update – Full Cage Installation in Chile

INTELLINET AT CHILE SITE

INSTALLATION IN PROCESS

INSTALLATION COMPLETE AND FISH STOCKED

INTELLINET CONNECTED

IntelliNet Update – Full Cage Installation in Chile

A SMALL LAB EXPERIMENT TO THE FIRST FULL SCALE INTELLINET CAGE IN A SPAN OF 2 YEARS

GTFL's Strong External Actions on Sustainability

HDPE Products
	We are a pioneer in HDPE products and champion the replacement of nylon products with HDPE.
	HDPE production saves several MT equivalent of CO 2 vs Nylon

GTFL – Pioneer in HDPE Solutions for Aquaculture

Plastics Europe has published a document in 2014, Eco-profiles and Environmental Product Declarations of the European Plastics Manufacturers, which shows the Global Warming Potential (GWP - Kg CO2 equivalent) per kilo of Nylon resin is 6.7 while that of HDPE resin is 1.8.

https://plasticseurope.lca-data.com/ILCD/

Garware Technical Fibres has provided more than 25,000 metric tons of HDPE netting solutions to the aquaculture industry, this directly translates to a reduction of 122.5 million Kilograms of CO2 equivalent. This saving in the carbon footprint is equivalent to approximately 1.35 million passenger flight trips from Santiago to Puerto Montt.

Environmental Impact

Trial of the Industry's First Certified Bio-Based Cage Net in New Zealand

Up to 70% Reduction in GHG emissions compared to regular aquaculture cage nets

Environmental impact – Nylon vs HDPE

GTFL's Strong Internal Actions on Sustainability

Water	Green House Gas E
Every year we are reducing our water consumption per MT of production. Honoured with various awards for our efforts	Annually increasir 55 5 renewable source Trial of the industr based cage which
100% treatment and recycling of waste water generated in production process	utilization of fossil reducing GHGs
Biodiversity Preservation	Reduce, Reuse and
Recycling of the equivalent quantity of plastic material as that consumed for handling and packaging of products through authorized recyclers	Improvement in C by improving boile REDUCE REUSE
Tree plantations every year at various locations	Continuous reduc $\bullet$ generated during RECYCLE

GTFL Plant – Sustainability Initiatives

Continuously minimizing GHG emission

GHG emission intensity, TCO2 eq per MT of production

Performance Awards

GTFL Plant – Sustainability Initiatives

Continuously minimizing water consumption

Total water consumption, KL per day

Water consumption, Litres per MT of production

Performance Awards

GTFL Plant – Sustainability Initiatives

Continuously minimizing energy consumption

Total electricity consumption, GWh per annum

Performance

Better Ideas in Action

www.garwarefibres.com

Sports Nets

N Europe and Australia sports nets have picked up in Q1 with large orders.

USA sports nets is picked up in Q2. Orders received in Q3 from the largest distributor and further orders are expected in Q4

Encouraging response in USA for sports allied.

South Europe – With new resource on board, aggressively targeting new businesses in S Europe to increase the GTFL penetration.

Safety nets – Plans to enter the USA and European safety nets business are on track. Establishing the product certification and customer contact underway.

Sports Allied – New product like fence panel already developed and launched in the market.

Overall the outlook for sports segment looks positive for F24.

Sports New Allied Business

Products:

Tennis posts, pickleball posts, Soccer goal posts, kicking cage frames & cat frames

Global Market Size: 190-210Cr.

Focus Markets: US, EU, Australia

Business Model: Distributor Led Model

Strategy: Utilize existing netting channel to gain entry and then adding new customers.

Tennis Post	External Mecha
Features	Material Spe
1. Stylish & durable for indoor & outdoor application	Post Material -
2. Heavy duty industrial gauge steel	Winding Mecha with Powder Co
3. Smooth & easy to operate	Pipe $OD - 27/8$
4. Powder coating to resist rust &	Pipe Shape - Ro
increase durability

Better Ideas in Action

www.garwarefibres.com

GTFL IB-Safety nets

Products: Safety Nets with requisite certifications (ANSI and EN)

Global Market Size: 9300 MT in F23. US \$40-45 million (approximately)

Focus Markets: US, EU, Latin America.

Business Model: Fabricators/Distributors driven business.

GTFL Value Added Ropes

Products:

UHMWPE, Fabricated Slings, High Strength Polyolefin

Application Segments: Mooring, Towing, Offshore, Transmission, Defense.

Customer segments:

Ship Chandlers, Ship management companies, Tug boat operators, Transmission companies etc.

Business Model: Distributors and Direct sales to consumers

Strategy: Shift from commodity ropes to differentiated value added ropes using high strength polymers

GTFL Geo Business

-synthetics

•Railways

• •Airports
• •Ports

Geosynthetics are polymer-based materials used in infrastructure solutions for environmental friendliness and lower overall cost

Geosynthetics – A Brief Overview

Geosynthetics - Benefits

Geosynthetics Division – Business Model

Technical Backup – In house technical team

Garware Technical Fibres Ltd. has an in house Geotechnical Design Team that consistently offers reliable, accurate and site specific designs. Designing is done over a wide spectrum of projects that include Mountainous, Riverine & Marine terrains by using globally accepted software

The quality of the technical back up offered facilitates us to secure and execute projects in a competitive environment.

Focused Applications – DOMESTIC

DOMESTIC MARKET - Rockfall & Slope Protection application

Location: Keonjhar, Odisha

Implementation of Soil Slope Stability Measures and Rockfall Protection along New Railway Broad Gauge Line

DOMESTIC MARKET - Rockfall & Slope Protection application

Location: Uttarakhand

Slope stability implementation along a critical stretch near Rishikesh

DOMESTIC MARKET - Avalanche Protection application

UT of Ladakh

Implementation of Avalanche Control Measures in UT of Ladakh

• ➢ Geotextile Woven
• ➢ Polypropylene
• ➢ Polyester
• ➢ Geotextile Fabric Form
• ➢ Geotextile bag
• ➢ Geotextile tube
• ➢ Saddle Bag
• ➢ Geo-containers
• ➢ Polymer Gabion
• ➢ PP Rope Gabion
• ➢ Aqua-Rock Bag / Flexible Rope Net Gabion
• ➢ Rockfall Solution
• ➢ Double Twisted Mesh Panel
• ➢ High Strength Boulder Net
• ➢ Smart Early Warning System
• ➢ Garmat Supreme
• ➢ Biodegradable Coir Mats for Erosion Control
• ➢ Polymer Mat for Erosion Control Blanket

GTFL GEO Export Product Offerings

GTFL GEO Export Product Offerings

PP ROPE GABION AQUAROCKBAG /FRN DT MESH PANEL

HS BOUDLER NET EROSION CONTROL MAT POLYMER EROSION CONTROL MATT

81

WOVEN GEOTEXTILE GEOTEXTILE BAG GEOTEXTILE TUBE

GEOTEXTILE CONTAINER GEOTEXTILE SADDLE BAG

GTFL GEO Export Product Offerings

82

GTFL GEO Export Markets

GTFL GEO Export Markets

COLOUMBIA

⁸⁴ THAILAND

PHILIPPINES

GTFL GEO Export Markets

Wind Defender Application USA Landfill

Way Forward Domestic Market – Rockfall Protection and Landfills

• Rockfall Protection

• Out of a total allocation of Rs 110 L Cr by the Central Government under the National Infrastructure Pipeline from 2020 – 2025, Roads & Highways share is Rs 20 L Cr. And Railways is Rs 14 L Cr.
• There is an increasing awareness of the need to protect roads from disasters like rock fall / landslides, etc that impact the safety of the road users. Nowadays, Clients like NHAI, NHIDCL, etc. which are the owners of these highways do not give completion certificates to Contractors unless the safety aspects are taken care of by them.
• Over all addressable market is between Rs 3000 to 4000 crs at an expected penetration rate of 1%.

• Landfills

• Landfills are increasingly being recognized as the most viable alternative for disposal of solid waste. Garware is well positioned as a reliable turnkey solution provider for industrial waste landfills.
• The key driver for industrial waste landfills is industrial production and mining . As industrial production and mining increases, so also the waste to be disposed of according to environmental norms

Way Forward – Exports

• Global Market Size 10-12 Bn USD, Growing at 9% CAGR y-o-y
• Addressable market size 400 to 500 million US\$
• Complete supply value chain needed for Geo-synthetic manufacturing is available in India
• With China+1 sentiment in global supply chain India is well poised to become second manufacturing hub for the Word
• GTFL is exporting to US, France, Germany, Poland, UK, Colombia, Oman, Philippines, Singapore, Thailand, Australia

www.garwarefibres.com

Thank You

INDIA USA UK CANADA AUSTRAILA CHILE NORWAY

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