MALLCOM (INDIA) LTD. — Investor Presentation 2022

May 30, 2022

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Dated: 30.05.2022

The Manager National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No. C-1, Block-G Bandra Kurla Complex, Bandra (E) Mumbai- 400 051

The Manager BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai – 400 001

NSE Scrip Name: MALLCOM / BSE Scrip Code : 539400

Dear Sir/Madam,

Sub: Investor Presentation

We are forwarding herewith Earnings Presentation of Mallcom (India) Limited for the year ended 31[st] March, 2022.

This is for your kind information and record.

Thanking you,

For Mallcom (India) Limited

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Shuvanki Purakayastha

Company Secretary & Compliance Officer

Encl.: As above

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Mallcom (India) Limited E a r n i n g s P r e s e n t a t i o n - Q 4 F Y 2 2 / F Y 2 2

SNAP SHOT Experienced Largest integrated Management with over Indian Personal 38 years of Industry Protective Equipment experience (PPE) manufacturer

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One of the widest protective gear product range catering to diversified industries

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Employing 2600+ skilled and semi-skilled workers of which 36% are women

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13 manufacturing units across India, equipped with best in-class machinery

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Manufacturing Plants (DTA, EOU & SEZ units) located in West Bengal, Uttrakhand & Gujarat with easy access to local markets, sea & airports

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Dedicated R&D centers and teams for product innovation and improvements

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New range of product launches every season

Mallcom (India) Ltd

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COMPANY OVERVIEW

Mallcom India Ltd was founded in 1983 by Mr. Ajay Mall as a small leather gloves manufacturer headquartered out of Kolkata, India.

Today it has grown to become one of the largest manufacturers and distributors of Personal Protective Equipment (PPE) products in India, with over 90% of orders coming from repeat customers.

An ISO certified and government-registered trading house, Mallcom provides a onestop solution for manufacturing one of the widest range of head-to-toe PPE products from helmets, eyewear, ear protection, face masks, safety garments, gloves, to shoes, and many more.

The company is also one of the largest exporters of PPE products from India exporting to 55+ countries across 6 continents.

It has an expansive manufacturing footprint with 13 production facilities spread across India and captive test labs that ensure quality standards.

Over the year the company has focused on backward integration wherever possible resulting into significant cost savings and gradual margin expansions.

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Operational Revenue (INR Mn) and
EBITDA Margins (%)
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4,000 3,572 25.00%
2,877
3,169
20.00%
3,000
15.00%
2,000
13.90%
10.00%
13.13%
1,000 10.95%
5.00%
- 0.00%
FY20 FY21 FY22
Operational Revenue (INR Mn)
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FY22 Geographical Revenue Mix (%)

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Australia
1% USA
Asia 3%
2%
South America
14%
Europe
41%
India
39%
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Mallcom (India) Ltd

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BUSINESS OVERVIEW

• Mallcom is a one-stop solution for all types of personal protective equipment providing the entire gamut of protection from Head to Toe.

• Mallcom is one of the few companies to have an indigenous expertise with various raw materials such as textile, leather, rubber, and plastic.

• Over three decades, the firm has gained immense knowledge and skillset to deal in an array of products such as safety helmets, face masks, leather gloves, textile gloves, nitrile gloves, safety apparels, rainwear, and safety shoes.

• The company also offers eyewear, ear protection equipment, latex gloves, neoprene gloves, and harnesses in its brand.

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FY22 Product Revenue Matrix
Others
Knitted Gloves
4%
3%
Nitrile Gloves
10%
Safety Shoes
32%
Leather Gloves
20%
Garments
31%
Production 600K 2.2M 150M 14M
& Servicing Helmets Apparel Masks NBR Gloves
Annual
12M 2.8M 3M
Capacity
Leather Gloves Knitted Gloves Shoes
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FOOT BODY HAND HEAD PROTECTION PROTECTION PROTECTION PROTECTION Mallcom produces Mallcom’s exclusive Mallcom has Mallcom works sturdy shoes that workwear ranges gained expertise in in close can tackle from light-weight to production of hand coordination challenges in heavy-duty industrial gear suiting the with the construction, work wear. It also application designers and mining, makes winter requirement. the users to metallurgical and protection, provide dynamic From driving to other manufacturing uniforms, and head protection welding to cut industries. corporate casual gear. resistant, it is able wear. With an annual to meet crucial The company production capacity These provide high industrial manufactures of more than three protection and are applications. helmets, face million pairs, utilized in several masks, eyewear, A wide range of Mallcom is the sectors such as ear protection hand protection leading safety shoe hospitality, healthetc. gears lie in the manufacturer and care and for general repertoire of distributor from industrial purposes. Mallcom, including India. Special fabrics leather gloves, protects the wearer string knit gloves in environments and nitrile gloves. such as heat, fire, and extremely cold temperatures.

Mallcom (India) Ltd

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FINANCIAL OVERVIEW Q4 – FY22/FY22

CONSOLIDATED FINANCIAL HIGHLIGHTS

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Q4-FY22 Financial Performance:

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Operational Operational
Income EBITDA EBITDA Margin Income EBITDA EBITDA Margin
INR 1,060 Mn INR 140 Mn 13.21% INR 3,572 Mn INR 497 Mn 13.90%
Net Profit PAT Margin Net Profit PAT Margin
INR 93 Mn 8.77% INR 316 Mn 8.84%
Diluted EPS Diluted EPS
INR 14.84 INR 50.57
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Mallcom (India) Ltd

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OPERATIONAL HIGHLIGHTS

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• § The operations were initially hit by the sudden surge in Covid-19 cases during the quarter, but the company was able to bounce back supported by better realisations.

• § Margins declined due to higher Raw Material costs and Freight costs.

• § Depreciation has increased on quarterly and yearly basis as a result of the ongoing capital expenditure projects and commencement of operations at MSPL, Ahmedabad.

• § Operation commenced at Ahmedabad plant in FY22. With regular orders being shipped to Europe productivity and shipments expected to improve further in FY23.

• § Phase -1 of Ghatakpukur plant expected to be inaugurated on 1st July 22.

• § High turnover during last two months of the quarters, has lead to increased receivables in FY22.

• § The company could reduce its debt by increasing cash flow from operations.

• § The signing of FTA agreements in Australia and UAE has opened up these markets and the company is expecting breakthrough with new contracts being signed in current FY in these geographies and is targetting the UK and Canada and expansion in USA subsequently.

• § The Board of Directors has recommended a dividend of INR 3/- per equity share for FY22, subject to shareholders approval.

Mallcom (India) Ltd

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CONSOLIDATED QUARTERLY FINANCIAL PERFORMANCE

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Income Statement (INR Mn)	Q4-FY22	Q4-FY21	Y-o-Y	Q3-FY22	Q-o-Q
Operational Income	1,060	982	7.9%	921	15.1%
Total Expenses	920	844	9%	793	16%
EBITDA	140	138	1.4%	128	9.4%
EBITDA Margins (%)	13.21%	14.05%	(84) Bps	13.89%	(69) Bps
Depreciation	25	16	56.3%	22	13.6%
Finance Cost	3	4	(25)%	10	(70)%
Other Income	8	18	(55.6)%	13	(38.5)%
Exceptional Item	-	-	NA	-	NA
PBT	120	136	(11.8)%	109	10.1%
Tax	27	32	(15.6)%	32	(15.6)%
Profit After Tax	93	104	(10.6)%	77	20.8%
PAT Margins (%)	8.77%	10.59%	(182) Bps	8.36%	41 Bps
Other Comprehensive Income	(1)	(5)	(80)%	(2)	(50)%
Total Comprehensive Income	92	99	(7.1)%	75	22.7%
Diluted EPS (INR)	14.84	16.65	(10.9)%	12.33	20.4%

Mallcom (India) Ltd

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CONSOLIDATED ANNUAL FINANCIAL PERFORMANCE

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Income Statement (INR Mn)	FY22	FY21	Y-o-Y
Operational Income	3,572	3,169	12.7%
Total Expenses	3,075	2,753	11.7%
EBITDA	497	416	19.5%
EBITDA Margins (%)	13.90%	13.13%	78 Bps
Depreciation	83	58	43.1%
Finance Cost	20	16	25%
Other Income	31	32	(3.1)%
Exceptional Item	-	-	NA
PBT	425	374	13.6%
Tax	109	91	19.8%
Profit After Tax	316	283	11.7%
PAT Margins (%)	8.84%	8.93%	(8) Bps
Other Comprehensive Income	-	-	NA
Total Comprehensive Income	316	283	11.7%
Diluted EPS (INR)	50.57	45.30	11.6%

Mallcom (India) Ltd

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CONSOLIDATED HISTORICAL INCOME STATEMENT

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Income Statement (INR Mn)	FY20	FY21	FY22
Operational Income	2,877	3,169	3,572
Total Expenses	2,562	2,753	3,075
EBITDA	315	416	497
EBITDA Margins (%)	10.95%	13.13%	13.90%
Depreciation	56	58	83
Finance Cost	26	16	20
Other Income	5	32	31
Exceptional Item	15	-	-
PBT	253	374	425
Tax	64	91	109
Profit After Tax	189	283	316
PAT Margins (%)	6.57%	8.93%	8.84%
Other Comprehensive Income	-	-	-
Total Comprehensive Income	189	283	316
Diluted EPS (INR)	30.26	45.30	50.57

Mallcom (India) Ltd

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CONSOLIDATED BALANCE SHEET

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PARTICULARS (INR MN)	FY20	FY21	FY22		PARTICULARS (INR MN)	FY20	FY21	FY22
Assets					Equity and Liabilities
1. Non-Current Assets:	484	695	857		1. Equity	1,102	1,468	1,764
(a) Property, Plant and Equipment's	422	474	629		Equity Share Capital	62	62	62
(b) Intangible Assets	3	45	43		Other Equity	1,040	1,353	1,660
(c) Capital Work In Progress	31	146	147
					Minority Interest	-	53	42
(d) Financial Assets	-	-	-
					2. Non-Current Liabilities	44	42	124
(i) Loans	8	10	10
					(a) Long Term Borrowings	36	36	60
(ii) Current Tax Assets (Net)	20	20	28
					(b) Other Financial Liabilities	-	-	60
2. Current Assets	1,485	1,830	1,934
					(c) Deferred Tax Liabilities	8	6	4
Inventories	757	572	715
					3. Current Liabilities	823	1,015	903
Financial Assets
					(i) Financial Liabilities
(a) Investments	213	188	-
					(a) Short-Term Borrowings	324	533	474
(b) Trade Receivable	222	482	694
					(b) Trade Payables	343	363	354
(c ) Cash and Cash Equivalents	52	40	39
					(c) Other Financial Liabilities	41	37	10
(d) Other Bank Balances	1	267	247
(e) Loans	3	1	1		(ii) Other Current Liabilities	114	81	65
Other Current Assets	237	280	238		(iii) Provisions	1	1	-
Total Assets	1,969	2,525	2,791		Total Equity and Liabilities	1,969	2,525	2,791

Mallcom (India) Ltd

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CONSOLIDATED FINANCIAL PERFORMANCE

EBITDA (INR Mn) and EBITDA Margins (%)

Operational Income (INR Mn)

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600 60.00%
497
500 50.00%
416
400 40.00%
315
300 30.00%
200 20.00%
100 10.00%
13.13% 13.90%
10.95%
0 0.00%
FY20 FY21 FY22
EBITDA (INR Mn) EBITDA Margin (%)
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3,572
3,169
2,877
FY20 FY21 FY22
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Net Worth (INR Mn)

Dividend (INR/share)

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1,764
1,468
1,102
FY20 FY21 FY22
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3.00 3.00
2.00
FY20 FY21 FY22
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PAT (INR Mn) and PAT Margins (%)

350 316 30.00% 283 28.00% 300 26.00% 24.00% 250 22.00% 189 20.00% 18.00% 200 16.00% 14.00% 150 12.00% 10.00% 100 8.00% 50 6.57% 8.93% 8.84% 6.00%4.00% 2.00% 0 0.00% FY20 FY21 FY22 PAT (INR Mn) PAT Margin (%)

Net Debt to Equity (x)

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0.40
0.32
0.14
FY20 FY21 FY22
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Mallcom (India) Ltd

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CAPITAL MARKET DATA

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Share Price Return as on 31st March, 2022
190% Mallcom Sensex
170%
150%
130%
110%
90%
70%
50%
30%
10%
-10%
Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22
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Price Data (As on 31st March, 2022)	10.0 758.1 985.0/373.2 4,730.54 6.2 3.2
Face Value (INR)
Market Price (INR)
52 Week H/L (INR)
Market Cap (INR Mn)
Equity Shares Outstanding (Mn)
1 Year Avg. Trading Volume (‘000)

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Shareholding Pattern as on 31 [st] March, 2022
FII
0.75%
Public
25.47%
Promoter
73.78%
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Mallcom (India) Ltd

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DISCLAIMER

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Mallcom India Ltd.

No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Mallcom India Limited (“Company”), which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from. Please note logo’s of other brands used in the presentation are not Mallcom’s and should not have an IP issue

This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.

Valorem Advisors Disclaimer:

Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and 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.

Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.

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For further details please contact our Investor Relations Representatives: VALOREM ADVISORS

Mr. Anuj Sonpal Tel: +91-22-49039500 Email: mallcom@valoremadvisors.com

Mallcom (India) Ltd

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THANK YOU

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