IFGL Refractories Limited — Investor Presentation 2021

Aug 18, 2021

~~�~~ ~~0 �~~ �FRACTORIES LIMITED

Head & Corporate Office

3, Neta[j] i Subhas Road, Kolkata - 700 001, India Phone: +91 33 40106100, Fax: +91 33 22430886 E-mail : i[f] gl.ho[@] i[f] gl.in, Websites : www.i[f] glref.com

l 8[th ] Au oust 2021 b ,

National Stock Exchange of India Ltd 'Exchange Plaza', C-1, Block- G Bandra - Kurla Complex Bandra (E), Mumbai 400 051 CODE: H'GLEXPOR

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001 CODE: 540774

Dear Sirs.

Re: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

In compliance of above, please find enclosed herewith copy of an updated Investors Presentation. Copy of this is being hosted on Company's Website: v.rww.iflrefcom.

Thanking you,

Yours faithfully, For [FGL Ref[r] actories Ltd

�tN --- --(R Agarwal) Company Secretary

Encl : as above

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Formerly known os IFGL EXPORTS LIMITED Registered Office & Kalunga Works : Sector 'B', Ka lung a Industrial Estate P.O. Kalungo - 770 031, Dist. Sundergorh, Odisho, Indio Phone: +91 661 2660195, Fox: +91 661 2660173 E-mail: ifgl.works@ifgl.in, CIN: L51909OR2007PLC027954

h ofman n l( iC CiE=tRm GMBH

~~_,~~

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COMMITTED TO CLEAN METAL

IFGL Refractories Limited

Investor Presentation – Q1FY22 August 2021

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Safe Harbor

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This presentation and the accompanying slides (the “Presentation”), has been prepared by IFGL Refractories Limited , solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever.

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.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. 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. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the refractories industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation.

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Our Performance

Q1FY22 Performance Snapshot

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Strong Standalone & Consolidated Performance

Standalone Rs. 163.2 Crores Total Income Up 26% YoY Standalone Rs. 27.7 Crores EBITDA Up 6% YoY Standalone Rs. 13.4 Crores PAT Up 12% YoY

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Consolidated Rs. 277.8 Crores
Total Income Up 35% YoY
Consolidated Rs. 35.7 Crores
EBITDA Up 35% YoY
Consolidated Rs. 17.9 Crores
PAT Up 75% YoY
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Q1FY22 Standalone Financial Highlights

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Total Income [Rs. Crs.]

EBITDA [Rs. Crs.]

EBITDA margin [%]

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+26% +6%
163.2 27.7
26.2
129.9
Q1FY21 Q1FY22
Q1FY21 Q1FY22
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-320 bps
20.2%
17.0%
Q1FY21 Q1FY22
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Profit After Tax [Rs. Crs.]

PAT margin [%]

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+12%
13.4
11.9
Q1FY21 Q1FY22
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-100 bps
9.2%
8.2%
Q1FY21 Q1FY22
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Q1FY22 Standalone Profit & Loss

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Profit & Loss [Rs. Crs.]	Q1FY22	Q1FY21	Y-o-Y%	Q4FY21	Q-o-Q%	FY21
Total Income	163.2	129.9	26%	176.8	-8%	655.8
Raw Material	79.5	60.8		83.7		304.0
Employee Expenses	13.8	11.7		12.4		51.8
Other Expenses	42.2	31.2		43.6		157.2
EBITDA	27.7	26.2	6%	37.1	-25%	143.0
EBITDA Margins	17.0%	20.2%		21.0%		21.8%
Depreciation	2.8	2.9		3.3		12.5
Goodwill written off*	6.7	6.7		6.7		26.8
Finance Cost	0.7	0.6		0.6		2.4
Profit before Tax	17.5	16.0	9%	26.5	-34%	101.3
Tax	4.2	4.1		37.4		56.5
Profit after Tax	13.4	11.9	12%	-10.9	-	44.8
One time tax adjustment (Goodwill)*	0.0	0.0		21.7		20.2
Adjusted PAT#	13.4	11.9	12%	10.7	25%	65.0
Adjusted PAT Margins	8.2%	9.2%		6.1%		9.9%
Cash Profit after Tax	21.6	22.8	-5%	20.9	3%	108.0
Adjusted EPS	3.7	3.3		3.0		18.0

Cash PAT = Profit after Tax + Deferred tax + Depreciation + Goodwill amortized on account of merger #Adjusted PAT is after adding back one-time tax adjustment due to goodwill

*Refer to slide no.11

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Standalone Balance Sheet

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Assets(in Rs. Crs.)	Mar-21	Mar-20	Equity & Liabilities(in Rs. Crs)	Mar-21	Mar-20
Non current Assets	318.7	328.9	Equity	559.1	514.0
Fixed Assets			Share Capital	36.0	36.0
PropertyPlant & Equipment	77.6	80.7	Other Equity	523.1	478.0
Right to Use Asset	15.6	16.2
Capital WIP	18.1	3.9
Goodwill(other)	133.5	160.2
Intangible assets	0.2	0.1	Non Current Liabilities	42.7	8.7
Financial Assets			Financial Liabilities
Investments	62.4	57.8	Lease Liabilities	8.9	8.7
Loans & Deposits	2.3	2.2	Deferred Tax Liabilities(net)	33.8	-
Others	3.3	-
Deferred Tax Assets(net)	-	5.3
Income Tax Assets(net)	2.4	1.5
Other Non current Assets	3.3	1.1
Current Assets	433.0	307.9	Current Liabilities	149.9	114.1
Inventories	100.5	73.8	Financial Liabilities
Financial Assets			Borrowings	36.0	31.8
Investments	121.7	92.2	Lease Liabilities	0.8	0.8
Trade Receivables	156.7	125.1	Trade Payables	85.1	62.4
Cash & cash equivalents	0.2	7.8	Other Financial Labilities	8.3	4.8
Bank Balances	43.3	1.1	Other Current Liabilities	17.9	13.7
Other Financial Assets	1.9	2.1	Provisions	0.3	0.3
Other Current Assets	8.8	6.0	Income Tax Liabilities	1.6	0.4
Total Assets	751.7	636.8	Total Equity & Liabilities	751.7	636.8

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Q1FY22 Consolidated Financial Highlights

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Total Income [Rs. Crs.]

EBITDA [Rs. Crs.]

EBITDA margin [%]

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+35% +35%
277.8 35.7
206.4 26.5
Q1FY21 Q1FY22
Q1FY21 Q1FY22
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+10 bps
12.8% 12.9%
Q1FY21 Q1FY22
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Profit After Tax [Rs. Crs.]

Adjusted PAT margin [%]

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+75%
17.9
10.2
Q1FY21 Q1FY22
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+150 bps
6.4%
4.9%
Q1FY21 Q1FY22
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Q1FY22 Consolidated Profit & Loss

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Profit & Loss [Rs. Crs.]	Q1FY22	Q1 FY21	Y-o-Y%	Q4FY21	Q-o-Q%	FY21
Total Income	277.8	206.4	35%	287.9	-4%	1042.5
Raw Material	131.7	95.9		132.8		474.0
Employee Expenses	42.3	34.8		39.0		151.8
Other Expenses	68.1	49.2		67.7		240.8
EBITDA	35.7	26.5	35%	48.5	-26%	175.9
EBITDA Margins	12.9%	12.8%		16.8%		16.9%
Depreciation	5.1	5.2		5.7		21.8
Goodwill written off*	6.7	6.7		6.7		26.8
Finance Cost	0.9	0.7		0.9		3.1
Profit before Tax	23.1	13.9	66%	35.2	-35%	124.2
Tax	5.2	3.7		37.8		58.6
Profit after Tax	17.9	10.2	75%	-2.5	-	65.6
One time tax adjustment (Goodwill)*	0.0	0.0		21.7		20.2
Adjusted PAT#	17.9	10.2	75%	19.1	-7%	85.8
Adjusted PAT Margins	6.4%	4.9%		6.6%		8.2%
Cash Profit after Tax	28.5	23.8	20%	31.8	-10%	139.2
Adjusted EPS (Rs.)	5.0	2.8		5.3		23.8

Cash PAT = Profit after Tax + Deferred tax + Depreciation + Goodwill amortized on account of merger #Adjusted PAT is after adding back one-time tax adjustment due to goodwill

*Refer to slide no.11

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Consolidated Balance Sheet

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Assets (in Rs. Crs.)	Mar-21	Mar-20	Equity & Liabilities (in Rs. Crs )	Mar-21	Mar-20
Non current Assets	456.4	461.6	Equity	890.5	809.0
Fixed Assets			ShareCapital	36.0	36.0
PropertyPlant &Equipment	147.6	152.3	Other Equity	854.5	772.9
Right to UseAsset	20.3	22.0
Capital WIP	22.1	6.9
Goodwill(onconsolidation)	111.9	103.6
Goodwill(other)	133.5	160.2	Non Current Liabilities	67.7	36.1
Intangible assets	2.2	2.3	Financial Liabilities
Financial Assets			Borrowings	11.9	13.5
Investments	6.2	1.5	LeaseLiabilities	9.9	10.9
Loans &Deposits	2.3	2.2	DeferredTax Liabilities (Net)	45.8	11.7
Others	3.3	-
DeferredTax Assets (net)	-	5.6
IncomeTax Assets (net)	3.8	3.0
Other NoncurrentAssets	3.3	1.9
Current Assets	727.5	567.6	Current Liabilities	225.8	184.1
Inventories	167.8	141.8	Financial Liabilities
Financial Assets			Borrowings	36.4	35.1
Investments	121.7	92.2	LeaseLiabilities	2.2	2.0
Loans &Deposits	0.7	0.7	TradePayables	155.1	124.2
TradeReceivables	228.2	210.5	Other Financial Labilities	11.5	8.0
Cash& cashequivalents	147.6	109.7	IncomeTax Liabilities	2.0	0.5
BankBalances	43.3	1.1	Other CurrentLiabilities	18.3	14.1
Other Financial Assets	2.6	2.1	Provisions	0.3	0.3
Other Current Assets	15.7	9.7
Total Assets	1,183.9	1,029.2	Total Equity & Liabilities	1,183.9	1,029.2

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One Time Tax Impact on account of Goodwill

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		Profit After Tax Impacted by deferred tax liability ▪ As per amendments by Finance Act, 2021, Goodwill on amalgamation is no longer a depreciable asset and depreciation on goodwill is not allowable expenditure effective April 1, 2020. ▪ Profit after Tax is impacted by recognition of one-time deferred tax charge of Rs. 21.7 Crores for Q4FY21 (including adjustment for corresponding net deferred tax credit recognised in prior quarters) and Rs. 20.2 Crores (net) for the year consequent to the reduction of the depreciable amount of goodwill for tax purposes to nil. ▪ On adjusted basis, consolidated Profit after Tax for Q4FY21 has increased by 186% YoY and increased by 114% YoY for FY21. Balance Goodwill to be written off ▪ Goodwill of Rs. 267 Crores had arisen on 1st April, 2016 and was being amortised over a period of 10 years. ▪ Balance in Securities Premium Account as on 1st April, 2021 is proposed to be utilised to adjust Goodwill of Rs. 133.5 Crores as on that date. ▪ Utilisation will lead to fair representation of assets and liabilities of the Company.
Consolidated Profit & Loss [Rs. Crs.] Q4FY21 FY21		Profit After Tax Impacted by deferred tax liability ▪ As per amendments by Finance Act, 2021, Goodwill on amalgamation is no longer a depreciable asset and depreciation on goodwill is not allowable expenditure effective April 1, 2020. ▪ Profit after Tax is impacted by recognition of one-time deferred tax charge of Rs. 21.7 Crores for Q4FY21 (including adjustment for corresponding net deferred tax credit recognised in prior quarters) and Rs. 20.2 Crores (net) for the year consequent to the reduction of the depreciable amount of goodwill for tax purposes to nil. ▪ On adjusted basis, consolidated Profit after Tax for Q4FY21 has increased by 186% YoY and increased by 114% YoY for FY21. Balance Goodwill to be written off ▪ Goodwill of Rs. 267 Crores had arisen on 1st April, 2016 and was being amortised over a period of 10 years. ▪ Balance in Securities Premium Account as on 1st April, 2021 is proposed to be utilised to adjust Goodwill of Rs. 133.5 Crores as on that date. ▪ Utilisation will lead to fair representation of assets and liabilities of the Company.
Total Income 287.9 1042.5
EBITDA 48.5 175.9
Profit before Tax 35.2 124.2
Tax 37.8 58.6
Profit After Tax -2.5 65.6
One time tax adjustment (Goodwill) 21.7 20.2
Adjusted PAT 19.1 85.8
Adjusted EPS (Rs.) 5.3 23.8

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Subsidiaries Performance

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EI Ceramics [$ mn]

Monocon Group [GBP mn]

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4.69 6.80
2.76
6.10
0.42
0.26 0.32
0.20
0.15
0.08
-0.18 -0.20
Revenue
Q1FY21 Q1FY22
Q1FY21 Q1FY22
EBITDA
PAT
Hofmann Ceramic [Euro mn]
2.10
Overseas subsidiaries has witnessed
sustainable demand improvement. All our
1.45 subsidiaries are now profitable even at the
0.20 PAT level.
0.10
0.05
-0.06
Q1FY21 Q1FY22
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Overseas subsidiaries has witnessed sustainable demand improvement. All our subsidiaries are now profitable even at the PAT level.

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Ongoing Capex to boost performance

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➢ ~Rs. 10 Cr : For Normal Capex & debottlenecking
1 IFGL Odisha Plant
by H1/FY23
➢ Expansion phase – I completed in FY 20
2 IFGL Kandla Plant ➢ Further cost of Rs. 10 Cr by H2FY22. Work
in full swing
➢ 10-acre Land acquired for manufacturing of New
products including Monolithics & Precast Shapes
Visakhapatnam
3 ➢ Phase 1 (project cost of Rs. 30 Cr) is expected to
Project
be completed in Q2FY22
➢ Phase 2 (project cost of Rs. 20 Cr) is expected to
be completed by Q2FY23
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• ➢ ~Rs. 10 Cr : For Normal Capex & debottlenecking by H1/FY23

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• ➢ 10-acre Land acquired for manufacturing of New products including Monolithics & Precast Shapes

• ➢ Phase 1 (project cost of Rs. 30 Cr) is expected to be completed in Q2FY22

• ➢ Phase 2 (project cost of Rs. 20 Cr) is expected to be completed by Q2FY23

Capex till date funded out of internal accruals

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Consistently performing over the years…

Particulars [Rs. Crs.]	FY17	FY18	FY19	FY20	FY21
Total Income	769.5	839.7	955.4	928.3	1,042.5
Materials consumed	362.0	421.4	477.0	459.1	474.0
Employee Expenses	120.9	126.7	146.2	150.5	151.8
Other Expenses	183.5	181.3	218.5	216.2	240.8
EBITDA	103.1	110.3	113.8	102.5	175.9
EBITDA %	13.4%	13.1%	11.9%	11.0%	16.9%
Depreciation & Amortization	17.3	17.0	19.2	21.5	21.8
Goodwill amortized*	26.8	26.8	26.8	26.8	26.8
Finance Cost	4.5	4.0	3.7	3.6	3.1
Profit before Tax before Exceptional Items	54.5	62.6	64.1	50.6	124.2
Exceptional Item#	-	-	-	-20.6	-
Profit before Tax	54.5	62.6	64.1	30.0	124.2
Tax	4.6	15.4	13.6	10.5	58.6
Profit after Tax	50.0	47.1	50.5	19.5	65.6
One time tax adjustment (Goodwill)**	-	-	-	-	20.2
Adjusted Profit after Tax	50.0	47.1	50.5	40.1	85.8
Cash PAT	83.6	92.0	95.1	89.2	139.2
Adjusted Earnings Per share (Rs.)	13.86	13.07	14.00	11.1	23.8

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*Goodwill on account of Merger is being amortized over a period of 10 years.

**Refer to slide 11

Adjusted PAT is after adding back exceptional loss and one-time tax adjustment due to goodwill

Cash PAT = Profit after Tax + Deferred tax + Depreciation + Goodwill amortized on account of merger + Exceptional Item written off # Exceptional Item is the Impairment of Goodwill pertaining to German operations

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…to create sustainable value for Shareholders…

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Total Debt (Rs. Crs.) Cash & Equivalents (Rs. Crs.)
FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21
112.5 321.9
84.0 89.4
204.5
52.0 51.6 134.2
94.8
56.0
Net Debt : Equity [x]
FY17 FY18 FY19 FY20 FY21 FY17 FY18
0.04 0.27
0.02
0.16
-0.06
-0.19
-0.30
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Net Debt (Rs. Crs.)

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FY17 FY18 FY19 FY20 FY21
27.9 17.7
-44.8
-152.4
-270.3
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Net Debt : EBITDA [x]
FY17 FY18 FY19 FY20 FY21
0.27
0.16
-0.39
-1.49
-1.54
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We are a Net Cash Company from FY 19

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…with consistent Payout

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	FY16 FY21 FY17 FY18 FY20 FY19 20.0% 20.0% 20.0% 25.0% 25.0% 100.0%	FY16 FY21 FY17 FY18 FY20 FY19 20.0% 20.0% 20.0% 25.0% 25.0% 100.0%	FY16 FY21 FY17 FY18 FY20 FY19 20.0% 20.0% 20.0% 25.0% 25.0% 100.0%	FY16 FY21 FY17 FY18 FY20 FY19 20.0% 20.0% 20.0% 25.0% 25.0% 100.0%	FY16 FY21 FY17 FY18 FY20 FY19 20.0% 20.0% 20.0% 25.0% 25.0% 100.0%	FY16 FY21 FY17 FY18 FY20 FY19 20.0% 20.0% 20.0% 25.0% 25.0% 100.0%	FY16 FY21 FY17 FY18 FY20 FY19 20.0% 20.0% 20.0% 25.0% 25.0% 100.0%
Particulars (Rs.)		FY16	FY17	FY18	FY19	FY20	FY21
Consolidated Book Value Per Share		111.7	189.9	208.7	220.5	224.5	247.1
Consolidated Earning Per Share		12.1	13.9	13.1	14.0	11.1*	23.8*
Dividend Per Share		2.00	2.00	2.00	2.50	2.50	10.0#

*** EPS Adjusted for exceptional item and one time deferred tax liability due to goodwill # Includes Special Dividend of Rs. 6 per share**

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Appointed Mr. James Leacock as Managing Director

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Mr. James Leacock McIntosh Appointed as Managing Director effective 1[st] Sep, 2021

• Holder of Masters Degree in Technological Marketing

• More than three decades experience in Refractory Industry

• Hands on experience of manufacturing and marketing of Flow Control Refractories including Isostatically pressed for use in Iron and Steel Industry

• Hitherto President of Company’s US Step down subsidiary, EI Ceramics LLC.

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Industry Overview

Global Steel Demand Outlook

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In MT World World (Ex China)
+4.2% +7.0%
1,874 1,925 849 890
1,772 777
2020 2021F 2022F 2020 2021F 2022F
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Developing economies (Ex China)
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+7.7%
503
478
434
2020 2021F 2022F
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➢ Global outlook:

• As per WSA, the current forecast assumes that the ongoing second or third waves of infections will stabilise in the second quarter and that steady progress on vaccinations will be made, allowing a gradual return to normality in major steel-using countries.

• In the coming years, steel demand will recover firmly, both in the developed and developing economies, supported by pent-up demand and governments’ recovery programmes.

Source : World Steel Association, other articles

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Forecasted Global Short-Term Steel Demand

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In MT 2020 2021F 2022F

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+4.2%
1,925
1,874
1,772
+3.4%
1,392
1,364
1,303
+7.5%
+6.1%
155 162
114 123 128 +7.4% 141 +11.4% +7.2% +4.4% +3.3%
39 43 45 36 42 45 36 39 41 46 49 50 58 60 62
USMCA Central & EU Other Europe Africa Middle East CIS Asia & Oceania World
South America
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Steel Demand is expected to grow strongly across all parts of the world in 2021 & 2022

Source : World Steel Association, other articles

USMCA – US, Mexico, Canada

21

Top 5 Steel Consuming Countries

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In MT 2020 2021F 2022F
+2.0%
1,024.9 [1,035.1]
995.0
+12.6%
+6.2%
112.3
106.1
88.5 86.5 90.2 +5.7% +3.8%
80.0
52.6 56.0 58.8 49.0 51.5 52.8
China India United States Japan South Korea
Source : World Steel Association
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➢ India outlook:

• India had implemented one of the strictest lockdown in world which disrupted demand of steel for a short period of time. However, as lockdown started easing, country has witnessed a strong bounce back in demand led by increased manufacturing activities across all the sectors

• Demand for steel in India in 2021 is expected to be extremely strong as Government has unveiled various infrastructure investments, production linked incentives, support for rural people through infra development in rural areas complemented by restarting of construction activities across India & recovery of auto industry

• Second wave of covid-19 led to lockdown restrictions coming back and had some impact on steel production. However, in medium term, as the economy unlocks, steel production and demand is expected to bounce back again strongly

22

National Infrastructure Pipeline (NIP) Project

National Infrastructure Pipeline Project (NIP) Government unveiled the multimillion-dollar National Infrastructure Pipeline (NIP), with projects spread across 18 states over the next five years

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Investment allocation under NIP

$5 Trillion Economy

India needs to spend about $1.4 trillion on infrastructure to become a $5 trillion economy by FY25 Fresh Investments in Infrastructure This fresh investment in power, railways, and water, coupled with renewed interest in the automobile sector is bound to bring in fresh demand for steel

Railways, 13% Roads, 19% Urban Development, 16%

23

Domestic Steel Industry on a strong footing in the long term

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India is now the world's second largest steel producer, surpassing Japan

1

2

Target of 300 MT* of production capacity by 2030 (National Steel Policy, 2017)

Strong recovery in all sectors especially in steel consuming sectors of Real Estate & Auto

3

4

India’s per capita steel consumption is just ~74 kgs against world average of 214 kgs & China 522 kgs

Targeted per capita consumption in India is expected to go upto 160 kgs as per National Steel Policy

5

6

Economic recovery complemented with Government stimulus will lead to sustained demand in the years to come

Source : Indian Brand Equity Foundation, Business Standard

*** MT = Million Ton**

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Growth drivers of Indian Steel industry

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Anti-Dumping Duty policy
promotes fair trade and
reduces the ill effects of
dumping, on the
Domestic Industry
Infrastructure Huge export
development and opportunity for India
demand from the due to its low cost
various sectors advantage
Active local investments,
100% FDI, National Steel
Availability of raw Steel
materials and cost- Policy and other
effective labor Demand government initiatives are
expected to support the
steel industry
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Boost usage of refractory products significantly. Iron and steel industry accounts for approximately 71% of the refractories market share

Source : Mordor Intelligence

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Emerging Opportunities for Indian Market

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AATMANIRBHAR BHARAT

• ❑ AATMANIRBHAR BHARAT is the vision of the Government to make India a self-reliant nation. PM Modi has promoted “Vocal about Local” campaign which promotes Indian Companies to lead India to become self reliant

• ❑ Self-reliant India will ensure production of quality products on a large scale, fulfil India’s requirements and boost export of surplus production

Budget 2021 to provide demand boost

AATMANIRBHAR BHARAT

• ❑ The increased capital expenditure for infrastructure projects in Union Budget 2021-22 will push the demand for steel in the country

• ❑ Government incentives for affordable housing and vehicle scrappage policy will lead to sustained demand for steel from both the Real Estate & Auto Sector

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About Refractories

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What are Refractories

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About
Refractories
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Refractories are material having high melting points, with properties that make them suitable to act as heatresisting barriers between high and low temperature zones. Refractories are inorganic nonmetallic material which can withstand high temperature without undergoing physical or chemical changes while remaining in contact with molten slag, metal and gases

Raw Materials

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Principal raw materials used in the production of refractories are: oxides of silicon, aluminum, magnesium, calcium and zirconium and some non-oxide refractories like alumina, carbides, nitrides, borides, silicates and graphite

Uses

Refractories are used by metallurgy industry for flow control and also in the internal linings of furnaces, kilns, reactors and other vessels for holding and transporting metal and slag. In nonmetallurgical industries, the refractories are mostly installed on fired heaters, hydrogen reformers, ammonia primary and secondary reformers, cracking furnaces, utility boilers, catalytic cracking units, coke calciner, sulphur furnaces, air heaters, ducting, stacks, etc.

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Types of Refractories

Isostatic Refractories, Slide Gate Refractories & Systems, Tube Changer Refractories & System, Purging System & Refractories, Cast Products & Zirconia Nozzles, Monolithics/ Castable & Foundry Ceramics

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28
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About Us

A Global MNC…

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Monocon , UK
Hofmann Ceramic,
Mono Ceramics Inc Germany
Michigan, US
Tianjin Monocon
Tianjin, China
EI Ceramics,
Cincinnati, US
IFGL, Kandla SEZ
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Corporate Structure…

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IFGL Refractories Limited
3.604 Cr Equity Shares with a Face Value of Rs. 10 each
100%
IFGL Worldwide Holdings Limited
100% 100%
100%
Hofmann
Monocon Group EI Ceramics
Ceramic
UK / USA / China Germany USA
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Plants at Kalunga, Odisha, India
+
Plant at Kandla SEZ, Gujarat, India
+
Upcoming Plant at Visakhapatnam
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…simplified to create value for shareholders

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…with proven management…

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Mr. S.K. Bajoria Chairman

Mr. James McIntosh Managing Director (wef 1[st] Sep, 2021)

Mr. Kamal Sarda Director & Chief Financial Officer

• Promoter of S K Bajoria Group based at Kolkata engaged in diversified business activities

• Has been President of the Indian Chamber of Commerce, Director of West Bengal Industrial Development Corporation Ltd and Industrial Promotion & Investment Corporation of Orissa Ltd.

• Holder of Masters Degree in Technological Marketing

• Mr. McIntosh is presently President of Company's US step down subsidiary, El Ceramics LLC

• Has wide experience of more than three decades of refractory industry worldwide

• Fellow Member of ICAI and a law graduate with more than 30 years of experience in Finance, Accounts, Commercial & Operations

• More than 20 years of working experience in the refractory industry

• Previously was COO of erstwhile IFGL Refractories Ltd. till February 2011. Ex-Chairman of Indian Refractory Makers Association

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…serving the specialized refractory segment…

Slide Gate Refractories & Systems

Isostatic Refractories Tube Changer Refractories & System

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Purging System & Refractories

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Cast Products & Zirconia Nozzles

Foundry Ceramics

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…to reputed names in the Global Steel Industry

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Committed to Clean Metal

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For further information, please contact:

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Company :

IFGL Refractories Ltd. CIN - L51909OR2007PLC027954 Mr. Rajesh Agarwal rajesh.agarwal@ifgl.in www.ifglref.com

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Investor Relations Advisors :

Strategic Growth Advisors Pvt. Ltd. CIN - U74140MH2010PTC204285 Mr. Shogun Jain / Mr. Shrenik Shah shogun.jain@sgapl.net / shrenik.shah@sgapl.net +91 77383 77756 / +91 96647 64465 www.sgapl.net