Indag Rubber Ltd. — Investor Presentation 2023

May 11, 2023

==> picture [121 x 99] intentionally omitted <==

lndag Rubber Limited

Regd.Office :Khemka House, 11, Community Centre, Saket, New Delhi ꞏ110017, India Phone :26963172-73, 26961211, 26663310, 41664618, 41664043, Fax : 011- 26856350 E-mail :info@indagrubber.com, Website: www.indagrubber. com, CIN-L74899DL1978PLC009038 Works :Village Jhiriwala,Tehsil, Nalagarh,Distt. Solan, Himachal Pardesh - 174101,India Phone :09736000123

ISO900 1: 2015 ISO14001 : 2015

May 11, 2023

BSE Limited (Company code-1321) Phiroze Jeejeebhoy Towers, (Scrip code-509162) Dalal Street, Mumbai-400001

Sub.: Investor Presentation – Q4 FY23.

Dear Sir,

Enclosed please find the Investor Presentation of Q4 FY23, for the information of the investors and public at large.

Thanking you.

Yours faithfully,

For Indag Rubber Limited

==> picture [153 x 87] intentionally omitted <==

Digitally signed by MANALI D BIJLANI DN: c=IN, st=Delhi, MANAL 2.5.4.20=f661c7d662f28e9ab4037a5f1132d9a5b8e0cdf860d7f985500e4c f0a6712964, postalCode=110092, street=C-37 ANAND VIHAR, SHAKARPUR BARAMAD, EAST I D DELHI,DELHI,Delhi-110092, pseudonym=7b12574e467e2891faa ca0c6230ac196, serialNumber=647cf315c520526a2b 1842dc05e973f9fa96588b31825476 BIJLANI 6e4c8cfecd83ee1c, o=Personal, cn=MANALI D BIJLANI Date: 2023.05.11 16:15:16 +05'30'

-------------- The only alternative to new tyres -------------

Investor Presentation – Q4 & FY23 May 2023

==> picture [49 x 97] intentionally omitted <==

Safe Harbor

==> picture [199 x 65] intentionally omitted <==

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Indag Rubber Limited (the “Company”), have been prepared 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 what so ever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

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 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. Any forwardlooking 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.

2

==> picture [960 x 63] intentionally omitted <==

==> picture [417 x 351] intentionally omitted <==

Q4 & FY23 FINANCIAL HIGHLIGHTS

==> picture [49 x 97] intentionally omitted <==

CEO’s Message

==> picture [199 x 65] intentionally omitted <==

==> picture [160 x 176] intentionally omitted <==

Mr. Vijay Shrinivas CEO & Whole Time Director, Indag Rubber Ltd.

Commenting on the result:

“I am pleased to report that our company has achieved significant revenue growth in Q4FY23 and FY23, despite the challenging economic environment. Our Q4FY23 revenues increased by 45% from ₹46Cr in Q4FY22 to ₹67 Cr, while our FY23 revenues reached ₹252Cr, up by 46% YoY from ₹173 Cr in FY22. Our growth during the year was largely driven by increase in volumes.

On the profitability front, we have seen remarkable growth as well. Our EBITDA has grown by ~3x to ₹22 crores and PAT has grown by ~5x to ₹13 crores in FY23 due to cost efficiencies and smoothening of raw material prices in the 2nd half of FY23.

The organised retreading industry is expected to grow due to the increasing demand for sustainable and costeffective tires, expansion of the logistics industry, and rising freight demand combined with improvements in road infrastructure resulting in faster movement of goods. Lastly, as commercial vehicle sales continues to recover, the market size is poised to expand in the next few years, creating strong growth prospects in the medium to long term.

The risk of global impact of Russia-Ukraine conflict, increase in interest rates by central banks and opening up of China Market needs to monitored closely.

As pioneers of cold retreading in India with a legacy of 45 years, Indag has a huge product portfolio with different tread design patterns, committed and well trained retread network , which positions us well to provide fleet owners with world-class retreading solutions. We are continuously striving to improve the efficiency of our operations and focused on cost-saving measures.”

4

==> picture [49 x 97] intentionally omitted <==

Financials – Q4 & FY23

==> picture [199 x 65] intentionally omitted <==

==> picture [808 x 333] intentionally omitted <==

----- Start of picture text -----

Total Revenue EBITDA Profit After Tax
+45% +46% +411% +205% +964% +411%
66.6 252.2 9.6 22.0 6.6 13.2
46.0 173.3
7.2
1.9 2.6
0.6
Q4 FY22 Q4 FY23 FY22 FY23 Q4 FY22 Q4 FY23 FY22 FY23 Q4 FY22 Q4 FY23 FY22 FY23
EBITDA Margin
PAT Margin
1 ,030 bp s 450 bps 860 Bps 370 bps
14.0% 9.0% 10.0% 5.0%
4.0%
4.0%
1.0%
1.0%
Q4 FY22 Q4 FY23 FY22 FY23 Q4 FY22 Q4 FY23 FY22 FY23
----- End of picture text -----*

(Rs. In Crs.)

*Includes Other Income

5

==> picture [49 x 97] intentionally omitted <==

Financials – Q4 & FY23

==> picture [199 x 65] intentionally omitted <==

==> picture [927 x 402] intentionally omitted <==

----- Start of picture text -----

Particulars (Rs. In Crs) Q4 FY23 Q4 FY22 Y-o-Y Q3 FY23 Q-o-Q FY23
Revenue from Operations 64.1 44.2 45% 60.4 6% 243.9
Other Income 2.5 1.7 2.3 8.4
Total Revenue (incl Other Income) 66.6 46.0 45% 62.8 6% 252.2
Total Raw Material 41.8 31.8 42.5 174.3
Gross Profit 24.8 14.1 75% 20.2 23% 77.9
Gross Profit % 37.2% 30.7% 32.2% 30.9%
Employee Expenses 5.8 5.3 5.6 22.1
Other Expenses 9.4 6.9 8.5 33.8
EBITDA 9.6 1.9 411% 6.1 57% 22.0
EBITDA % 14.4% 4.1% 1,030 bps 9.7% 450 bps 8.7%
Depreciation 1.3 1.0 1.1 4.5
EBIT 8.3 0.9 873% 5.0 65% 17.6
EBIT (%) 12.5% 1.9% 8.0% 7.0%
Finance Cost 0.2 0.0 0.1 0.3
Profit before Tax 8.1 0.8 5.0 17.2
Tax 1.5 0.2 1.5 4.0
Profit after Tax 6.6 0.6 964% 3.4 94% 13.2
PAT % 10.0% 1.4% 860 5.4% 370 bps 5.2%
EPS 3.18 0.24 1.87 5.04
----- End of picture text -----

6

==> picture [49 x 97] intentionally omitted <==

Balance Sheet

==> picture [199 x 65] intentionally omitted <==

==> picture [927 x 401] intentionally omitted <==

----- Start of picture text -----

Liabilities (Rs. In Crs.) Mar-23 Mar-22 Assets (Rs. In Crs.) Mar-23 Mar-22
Equity Non Current assets
Property, Plant and Equipments 24.4 23.3
Share Capital 5.3 5.3
Capital Work-In-Progress 0.4 1.0
Other Equity 206.6 201.3 Investment Property 21.0 21.6
Total Equity 211.8 206.5 Right of Use Assets 6.3 -
Other Intangible Assets 0.1 0.2
Non Current Liabilities
Financial Assets
Financial Liabilities Investments 95.7 85.7
Lease Liabilities 5.9 - Loans 0.0 0.0
Other Financial Assets 1.3 0.5
Provisions 0.9 0.9
Income Tax Assets (net) 0.3 2.3
Deferred Tax Liabilities (Net) 3.0 3.5 Other Non-Current Assets 1.4 0.2
Total Non Current Liabilities 9.9 4.4 Total Non Current Assets 150.8 134.8
Current Assets
Current Liabilities
Inventories 42.2 39.2
Financial Liabilities
Financial Assets
Lease Liabilities 0.4 - Investments 17.0 26.7
Trade Receivables 29.3 22.6
Trade Payables 22.8 16.6
Cash and Cash Equivalents 1.7 0.7
Other Financial Liabilities 3.4 4.4
Other Bank Balances 0.6 1.7
Provisions 0.2 0.1 Loans 0.2 0.2
Other Financial Assets 1.8 1.5
Other Current Liabilities 2.7 1.8
Other Current Assets 7.5 6.3
Total Current Liabilities 29.4 22.9
Total Current Assets 100.3 99.0
Total Equity and Liabilities 251.1 233.8 Total Assets 251.1 233.8
----- End of picture text -----

7

==> picture [49 x 97] intentionally omitted <==

Cashflow Statement

==> picture [199 x 65] intentionally omitted <==

==> picture [927 x 401] intentionally omitted <==

----- Start of picture text -----

Particulars (Rs. In Crs.) Mar-23 Mar-22
Net Profit Before Tax 17.2 2.9
Adjustments for: Non Cash / Other Items 1.8 0.7
Operating profit before working capital changes 19.0 3.6
Changes in working capital -6.6 6.0
Cash generated from operations 12.5 9.6
Direct taxes paid -2.8 -1.1
Net Cash from Operating Activities 9.7 8.5
Net Cash from Investing Activities -1.8 -3.0
Net Cash from Financing Activities -6.8 -6.5
Net Decrease in cash and cash equivalents 1.0 -1.0
Add: Cash & Cash equivalents at the beginning of the period 0.7 1.7
Cash & Cash equivalents at the end of the period 1.7 0.7
----- End of picture text -----

8

==> picture [436 x 350] intentionally omitted <==

ABOUT THE COMPANY

==> picture [960 x 60] intentionally omitted <==

==> picture [49 x 97] intentionally omitted <==

==> picture [199 x 65] intentionally omitted <==

About the Company

==> picture [702 x 393] intentionally omitted <==

VISION & MISSION

To be No.1 company in every market served, by offering best- inclass tyre Retreading products and services through largest network of trained Channel partners committed to offer most reliable, economical and sustainable tyre solutions for commercial transport industry.

VALUES

• Excellence

• Customer Satisfaction

• • Commitment

• Social Responsiveness

• • Creativity

• Openness and Diversity

10

==> picture [49 x 97] intentionally omitted <==

Our Journey

==> picture [199 x 65] intentionally omitted <==

==> picture [927 x 401] intentionally omitted <==

11

==> picture [49 x 97] intentionally omitted <==

Focused Management

==> picture [131 x 131] intentionally omitted <==

==> picture [132 x 130] intentionally omitted <==

Mr. Nand Khemka Chairman & Managing Director

Mr. Vijay Shrinivas CEO & Whole Time Director

• M.S. in Foreign Trade & MBA in Production Management from Columbia University, New York, U.S.A.

• With the company since 2018. He was last working with Arvind Ltd. as Chief Sales & Marketing Officer. Prior to that, he was with E I DuPont India Pvt Ltd, Bharat Shell Ltd and Larsen & Toubro Ltd in various operating and leadership roles

• Over 40 years of experience in

• promoting and running successfully various organizations

• MBA in International Business from Indian Institute of Foreign Trade, New Delhi ,with 21 years of experience

==> picture [132 x 131] intentionally omitted <==

Mr. Uday Khemka Director

• Son of Mr. Nand Khemka having more than 24 years of Investment Banking & Entrepreneurial experience in Emerging markets

• Vice-Chairman of the SUN Group of companies

• Educated at Eton College, he received his undergraduate and Master’s degrees at Cambridge University and received an MBA with distinction from Harvard Business School (Baker Scholar)

==> picture [199 x 65] intentionally omitted <==

==> picture [133 x 131] intentionally omitted <==

Mr. Shiv Khemka Director

• Vice-Chairman of SUN Group, founded in the early 90’s

• Educated at Eton College, Brown University, and the Lauder program at The Wharton School, University of Pennsylvania

12

==> picture [49 x 97] intentionally omitted <==

Focused Management

==> picture [116 x 117] intentionally omitted <==

Ms. Bindu Saxena Non-Executive Director (Independent)

==> picture [131 x 137] intentionally omitted <==

Mr. Raj Kumar Agrawal Non-Executive Director (Independent)

==> picture [116 x 116] intentionally omitted <==

Mr. P R Khanna

Non-Executive Director (Independent)

==> picture [131 x 137] intentionally omitted <==

Mr. Anil Bhardwaj G.M.(Accounts) & CFO

==> picture [199 x 65] intentionally omitted <==

==> picture [128 x 128] intentionally omitted <==

Mr. Harjiv Singh Non-Executive Director (Independent)

==> picture [116 x 122] intentionally omitted <==

Mrs. Manali D Bijlani Company Secretary

13

==> picture [49 x 97] intentionally omitted <==

==> picture [199 x 65] intentionally omitted <==

State of the Art Manufacturing Facility

==> picture [275 x 163] intentionally omitted <==

==> picture [279 x 163] intentionally omitted <==

State of the art manufacturing unit Located at Nalagarh Industrial Estate in Himachal Pradesh - Advanced Technology in terms of machinery and equipment - Indag Training centre to impart high quality of training

==> picture [263 x 208] intentionally omitted <==

==> picture [264 x 208] intentionally omitted <==

==> picture [264 x 208] intentionally omitted <==

14

==> picture [49 x 97] intentionally omitted <==

Our Presence

==> picture [199 x 65] intentionally omitted <==

==> picture [874 x 383] intentionally omitted <==

15

==> picture [49 x 97] intentionally omitted <==

Our Products

==> picture [199 x 65] intentionally omitted <==

==> picture [819 x 37] intentionally omitted <==

----- Start of picture text -----

PRECURED TREAD UN-VULCANIZED UNIVERSAL SPRAY TYRE RETREADING
RUBBER RUBBER STRIP GUM CEMENT ENVELOPES
----- End of picture text -----

==> picture [98 x 107] intentionally omitted <==

==> picture [139 x 111] intentionally omitted <==

==> picture [97 x 139] intentionally omitted <==

==> picture [160 x 99] intentionally omitted <==

• Capacity of 20,000 MT p.a.

• Servicing different vehicle

• types M&HCVs, LCVs, Passenger vehicles and Off-road vehicles

• Capacity of 1,800MT p.a.

• Strong bonding between casing and tread

• Shortest curing time

• Capacity of 1,800 KL p.a. with availability of 3 variants

• Provides protection to tyre buffed surface from oxidation

  • Heat resistive compound

  • Lowest cost per cure envelopes

  • Longer retreaded life

• Specialized patterns for varied

• road applications such as

• High retreading productivity

• Good cured bonding between casing and cushion

• highways, hills, mining, offroad

16

==> picture [49 x 97] intentionally omitted <==

Ensuring Quality & Reliability to Fleet Operators

==> picture [199 x 65] intentionally omitted <==

==> picture [309 x 255] intentionally omitted <==

INDAG CONSULTANCY SERVICES

It cannot be more that is a emphasized retreading highly technical and the best process requires quality retreading materials and an impeccable retreading process. Untrained and ill equipped small and fragmented retreaders are the biggest threat to the evolving and growing Retreading Industry in India.

We have designed INDAG Consultancy Services to help our retread partners win this battle. We extend the following training and services under this program -

==> picture [787 x 152] intentionally omitted <==

----- Start of picture text -----

RETREADING RETREADING
PROCESS MACHINERY TROUBLESHOOTING
CONSULTANCY CONSULTANCY
----- End of picture text -----

17

==> picture [49 x 97] intentionally omitted <==

Voice of the Customers

==> picture [199 x 65] intentionally omitted <==

==> picture [927 x 401] intentionally omitted <==

18

==> picture [960 x 63] intentionally omitted <==

==> picture [417 x 351] intentionally omitted <==

ABOUT THE RETREADING INDUSTRY

==> picture [49 x 97] intentionally omitted <==

What is Retreading?

==> picture [199 x 65] intentionally omitted <==

INDAG PIONEERED COLD RETREADING IN INDIA

==> picture [925 x 353] intentionally omitted <==

----- Start of picture text -----

RETREADING SAVES MONEY RETREAD SAVES ENVIRONMENT
Retreading is a green and sustainable
alternative to new tyres. It is a technical
process of high precision and
craftsmanship used to rejuvenate an old
worn-out tyre into a renewed one.
Retreading means
replacing the tread of the tyre,
instead of buying a completely new tyre.
A tyre casing is designed for multiple
retreading.
----- End of picture text -----

20

==> picture [49 x 97] intentionally omitted <==

Why Retreading?

==> picture [199 x 65] intentionally omitted <==

==> picture [927 x 401] intentionally omitted <==

----- Start of picture text -----

[One third of the price of a new tyre with life nearly the same ]
Saves Money
as New tyre
1
Durable Safety
Appropriate tread can last nearly the
6 2 Tested to same stringent
same as a new tyre
performance criteria as a new tyre
Benefits of
Retreading
Low Cost Production
Environment Friendly
5 3 In retread tyre only 25% Natural
Requires ~31 Litres of crude oil to rubber is used whereas; in new tyre,
produce a retread as opposed to 88 around 80% of Natural rubber is
Litres of oil to manufacture a new tyre required
4
Extends the life of used tyres thus saving even more energy, CO2 and
Recycle
raw materials with each product cycle
----- End of picture text -----

21

==> picture [49 x 97] intentionally omitted <==

Opportunities – Future of Retreading

==> picture [199 x 65] intentionally omitted <==

==> picture [137 x 97] intentionally omitted <==

Improved Road Infrastructure

• More distance travelled in lesser time

• Higher tonnage vehicles with more tyres

• • Less Downtime & longer tread life

• Less Damage to vehicles & tyres

==> picture [137 x 98] intentionally omitted <==

GST & Favorable Regulatory guidelines

• Fewer stopovers at check posts due to E-waybills

• Less overloading due to increasing regulations

• • End of Tyre life norms and labelling norms.

• Elimination of smaller, unorganized players and formalization of value chains

==> picture [137 x 97] intentionally omitted <==

Growing Environmental consciousness

• Retreading prevents landfill waste and pollution caused due to incineration of discarded tyres

• Retreading promotes sustainability and reusability, providing lesser carbon footprint

==> picture [137 x 98] intentionally omitted <==

Increasing Radialization Trend

• Truck and Bus tyre segment has reached a radialization of 51% and growing continuously.

• • Radial tyres are structurally stronger and supports multiple retread

==> picture [137 x 101] intentionally omitted <==

Inclination to Electric Vehicles

• While IC engines will become redundant over time, tyres will not!

• Emerging tyre designs focussed on Electric Vehicles

22

==> picture [436 x 350] intentionally omitted <==

HISTORICAL FINANCIALS

==> picture [960 x 60] intentionally omitted <==

==> picture [49 x 97] intentionally omitted <==

Financials

==> picture [199 x 65] intentionally omitted <==

==> picture [927 x 402] intentionally omitted <==

----- Start of picture text -----

Particulars (Rs. In Crs.) FY23 FY22 FY21 FY20
Revenue from Operations 243.9 166.9 169.8 186.8
Other Income 8.4 6.4 4.0 4.6
Total Revenue (incl Other Income) 252.2 173.3 173.9 191.4
Total Raw Material 174.3 120.2 107.6 121.1
Gross Profit 77.9 53.2 66.3 70.3
Gross Profit (%) 30.9% 30.7% 38.1% 36.7%
Employee Expenses 22.1 20.7 21.0 20.6
Other Expenses 33.8 25.3 25.0 29.0
EBITDA 22.0 7.2 20.3 20.7
EBITDA (%) 8.7% 4.2% 11.7% 10.8%
Depreciation 4.5 4.2 3.3 3.7
EBIT 17.6 3.0 17.0 17.0
EBIT (%) 7.0% 1.7% 9.8% 8.9%
Finance Cost 0.3 0.2 0.3 0.3
Profit before Tax 17.2 2.9 3.5 16.7
Tax 4.0 0.3 0.8 3.4
Profit after Tax 13.2 2.6 2.8 13.3
PAT % 5.2% 1.5% 1.6% 6.9%
EPS 5.04 0.99 1.05 5.06
----- End of picture text -----

• Exceptional Item of Rs 13.24 cr as the Company opted for the Himachal Pradesh {Legacy Cases Resolution) Scheme, 2019 on January 21, 2021 for settlement of Entry Tax matter of earlier years which was pending decision before Honorable High Court of Himachal Pradesh.

24

==> picture [49 x 97] intentionally omitted <==

Balance Sheet

==> picture [199 x 65] intentionally omitted <==

==> picture [927 x 401] intentionally omitted <==

----- Start of picture text -----

Liabilities (Rs. In Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Assets (Rs. In Crs.) Mar-23 Mar-22 Mar-21 Mar-20
Non Current assets
Equity
Property, Plant and Equipments 24.4 23.3 25 25.2
Share Capital 5.3 5.3 5.3 5.3
Capital Work-In-Progress 0.4 1.0 19.3 10.1
Other Equity 206.6 201.3 191.9 181.3 Investment Property 21.0 21.6 - -
Total Equity 211.8 206.5 197.2 186.6 Right of Use Assets 6.3 - - -
Other Intangible Assets 0.1 0.2 0.1 0.2
Non Current Liabilities
Financial Assets
Financial Liabilities Investments 95.7 85.7 87.3 77.1
Lease Liabilities 5.9 - - - Loans 0.0 0.0 - -
Other Financial Assets 1.3 0.5 1 0.6
Provisions 0.9 0.9 0.9 0.7
Income Tax Assets (net) 0.3 2.3 2.8 0.8
Deferred Tax Liabilities (Net) 3.0 3.5 2.8 2.5 Other Non-Current Assets 1.4 0.2 2.3 2.1
Total Non Current Liabilities 9.9 4.4 3.7 3.2 Total Non Current Assets 150.8 134.8 137.9 116.1
Current Assets
Current Liabilities
Inventories 42.2 39.2 36 36.9
Financial Liabilities
Financial Assets
Lease Liabilities 0.4 - - - Investments 17.0 26.7 7.3 5.3
Trade Receivables 29.3 22.6 29.5 37.2
Trade Payables 22.8 16.6 15.2 15.5
Cash and Cash Equivalents 1.7 0.7 1.7 1.1
Other Financial Liabilities 3.4 4.4 3.3 3.1
Other Bank Balances 0.6 1.7 1.9 2.1
Provisions 0.2 0.1 0.5 0.3 Loans 0.2 0.2 0.2 0.2
Other Current Liabilities 2.7 1.8 2.3 1.8 Other Financial Assets 1.8 1.5 1.5 5.4
Other Current Assets 7.5 6.3 6.2 5.9
Total Current Liabilities 29.4 22.9 21.3 20.6
Total Current Assets 100.3 99.0 84.3 94.2
Total Equity and Liabilities 251.1 233.8 222.2 210.3 Total Assets 251.1 233.8 222.2 210.3
----- End of picture text -----

25

==> picture [49 x 97] intentionally omitted <==

Cashflow Statement

==> picture [199 x 65] intentionally omitted <==

==> picture [927 x 401] intentionally omitted <==

----- Start of picture text -----

Particulars (Rs. In Crs.) Mar-23 Mar-22 Mar-21 Mar-20
Net Profit Before Tax 17.2 2.9 3.5 16.7
Adjustments for: Non Cash / Other Items 1.8 0.7 13.1 -0.2
Operating profit before working capital changes 19.0 3.6 16.6 16.6
Changes in working capital -6.6 6.0 7.8 -3.6
Cash generated from operations 12.5 9.6 24.4 13.0
Direct taxes paid -2.8 -1.1 -11.7 -4.7
Net Cash from Operating Activities 9.7 8.5 12.7 8.3
Net Cash from Investing Activities -1.8 -3.0 -9.4 2.5
Net Cash from Financing Activities -6.8 -6.5 -2.6 -12.2
Net Decrease in cash and cash equivalents 1.0 -1.0 0.7 -1.5
Add: Cash & Cash equivalents at the beginning of the period 0.7 1.7 1.1 2.5
Cash & Cash equivalents at the end of the period 1.7 0.7 1.7 1.1
----- End of picture text -----

26

==> picture [49 x 97] intentionally omitted <==

Consistent Dividend Pay-out

==> picture [199 x 65] intentionally omitted <==

==> picture [927 x 401] intentionally omitted <==

----- Start of picture text -----

Dividend
Pay-Out 15% 17% 19% 19% 20% 29% 40% 59% 47% 247% 242% 48%
12.6
12.2
10.7
9.5
8.4
8.0
6.0
5.1 5.0
4.1
2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4
2.0
1.6
1.2
1.0 1.0
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23
EPS DPS
----- End of picture text -----

27

Adjusted EPS & DPS for the split

==> picture [960 x 63] intentionally omitted <==

==> picture [282 x 91] intentionally omitted <==

For further information, please contact

Company :

Investor Relations Advisors :

Indag Rubber Ltd CIN: L74899DL1978PLC009038 Mr. Anil Bhardwaj, G.M.(Accounts) & CFO anil@indagrubber.com www.indagrubber.com

Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC204285 Mr. Deven Dhruva / Ms. Hinal Kothari deven.dhruva@sgapl.net / Hinal.Kothari@sgapl.net +91 9833373300 / +91 993013428 www.sgapl.net

==> picture [960 x 60] intentionally omitted <==