NOCIL Ltd — Investor Presentation 2021

Nov 2, 2021

e Regd. Office : Mafatlal House, 3rd Floor, H. T. Parekh Marg, Backbay Reclamation, Churchgate, Mumbai - 400 020, India. Tel.: +91226657 6100, 6636 4062 Fax +9122 6636 4060

Date:2nd November 2021

The Secretary	The National Stock Exchange of India
The Bombay Stock Exchange Limited	Ltd.
"P.J. Towers"	Exchange Plaza
Dalal Street	Sandra Kurla Complex,
Mumbai-400 001	Sandra (East)
Scrip Code: 500730	Mumbai-400 051
	Symbol: NOCIL

Dear Sir,

Sub: Investor Presentation

Pursuant to Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015, we enclose herewith Investors Presentation on the Financial Highlights for the quarter and half year ended 3Q¹ h September 2021 .

The aforementioned Presentation has been uploaded on the Company's website viz., www.nocil.com.

We request you to take the above on your records and acknowledge receipt.

Thanking you,

Yours faithfully, For NOCIL Limited

Vice President (Legal) & Company Secretary

Encl.: as above

NOCIL LIMITED

Investor Presentation November 2021

Safe Harbour

This presentation and the accompanying slides (the "Presentation"), which have been prepared by NOCIL 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 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.

*Base to 100; considering Q1FY20 base period

• Operating activities showed improvement post 2nd wave of COVID-19 at domestic customer's end

• Utilization levels have crossed pre-COVID levels on monthly run rate basis

• Sequential growth in volumes of ~5%

• Achieved Highest ever quarterly revenues of Rs. 375 crores

• Selling price corrections to offset input price rise with a time lag and to compensate for the higher freight cost impact
• EBIDTA impacted due to higher input cost and utilities

We expect a Volume growth of over 10% and Revenue growth of over 45% in FY22

CHINA + 1 STRATEGY

Rubber Chemicals Industry

Currently, China is a dominant player in the Rubber Chemical Industry vis a vis India contributing 75%

Tyre majors across world looking for alternative sourcing other than China after pandemic.

NOCIL is expected to benefit in view of available capacities

Rs. In Crores	Q2FY22	Q2FY21	Y-o-Y	Q1FY22	Q-o-Q	H1FY22	H1FY21	Y-o-Y
Net Revenue from Operations	375	222	69%	345	9%	720	328	119%
Raw Material	223	115		174		397	170
Value Addition *	152	107	43%	170	-11%	322	158	104%
Value Addition %	40.6%	48.1%		49.4%		44.8%	48.3%
Employee Expenses	19	17		21		40	33
Other Operating Expenses	84	58		76		160	86
Operating EBITDA	49	31	57%	73	-32%	122	39	211%
Operating EBITDA Margin	13.2%	14.2%		21.2%		17.0%	12.0%
Depreciation	10	9		10		21	18
Interest	0 ^	0 ^		0 ^		0 ^	1
Other Income	2	1		1		3	11
Profit Before Tax	41	23	78%	63	-35%	104	32	225%
Tax	11	6		16		27	4
Net Profit	31	17	83%	47	-35%	78	28	173%
Net Profit Margin	8.1%	7.5%		13.7%		10.8%	8.7%

ARVIND MAFATLAL GROUP The ethics of excellence	NOCIL LIMITED

Assets (Rs. Crs.)	30-Sep-21	31-Mar-21
Non-current assets	998	989
Property, Plant and Equipment	879	890
Capital work-in-progress	23	14
Investment Property	0 ^	0 ^
Intangible Assets	1	1
Financial Assets
(i) Investments in Wholly owned subsidiary	25	25
(ii) Other Investments	37	25
(iii) Other financial assets	7	7
Non-current tax assets	16	15
Other non-current assets	11	11
Current assets	645	610
Inventories	260	165
Financial Assets
(i) Investments	19	32
(ii) Trade receivables	334	309
(iii) Cash and cash equivalents	8	44
(iv) Bank balances other than cash and cash equivalents	4	36
(v) Other Financial Assets	1	1
Other Current Assets	20	23
TOTAL	1,644	1,599

Equity and Liabilities (Rs. Crs.)	30-Sep-21	31-Mar-21
EQUITY	1,336	1,274
Equity Share Capital	166	166
Other Equity	1,169	1,107
Non-Current Liabilities	121	115
Financial Liabilities
(i) Financial Lease Liability	4	4
Provisions	17	16
Deferred Tax Liabilities (Net)	101	96
Current liabilities	187	210
Financial Liabilities
(i) Trade Payables	146	171
(ii) Financial Lease Liability	2	2
(iii) Other Financial Liabilities	27	25
Provisions	4	5
Current Income Tax Liabilities (Net)	0	1
Other Current Liabilities	8	7
TOTAL	1,644	1,599

Rs. In Crores	Q2FY22	Q2FY21	Y-o-Y	Q1FY22	Q-o-Q	H1FY22	H1FY21	Y-o-Y
Net Revenue from Operations	375	222	69%	345	9%	720	328	119%
Raw Material	223	115		174		397	170
Value Addition *	152	107	43%	170	-11%	322	158	103%
Value Addition %	40.5%	48.1%		49.4%		44.8%	48.3%
Employee Expenses	20	18		22		41	35
Other Operating Expenses	82	56		75		157	83
Operating EBITDA	50	32	57%	74	-32%	124	40	207%
Operating EBITDA Margin	13.4%	14.4%		21.4%		17.2%	12.3%
Depreciation	11	9		11		21	18
Interest	0 ^	0 ^		0 ^		0 ^	1
Other Income	1	1		1		2	11
Profit Before Tax	41	23	75%	64	-36%	105	33	220%
Tax	11	6		16		27	4
Net Profit	30	17	78%	47	-37%	77	29	169%
Net Profit Margin	8.0%	7.6%		13.8%		10.8%	8.8%

Assets (Rs. Crs.)	30-Sep-21	31-Mar-21
Non-current assets	1,001	992
Property, Plant and Equipment	904	916
Capital work-in-progress	23	14
Investment Property	0	0
Intangible Assets	1	1
Financial Assets
(i) Other Investments	37	25
(ii) Other financial assets	7	7
Non-current tax assets	17	17
Other non-current assets	11	11
Current assets	658	623
Inventories	260	166
Financial Assets
(i) Investments	29	43
(ii) Trade receivables	334	309
(iii) Cash and cash equivalents	10	45
(iv) Bank balances other than cash and cash equivalents	4	36
(v) Other Financial Assets	2	2
Other Current Assets	20	23
TOTAL	1,659	1,615

Equity and Liabilities (Rs. Crs.)	30-Sep-21	31-Mar-21
EQUITY	1,347	1,285
Equity Share Capital	166	166
Other Equity	1,180	1,119
Non-Current Liabilities	126	120
Financial Liabilities
(i) Financial Lease Liability	4	4
Provisions	17	16
Deferred Tax Liabilities (Net)	105	100
Current liabilities	186	210
Financial Liabilities
(i) Trade Payables	145	170
(ii) Financial Lease Liability	2	2
(iii) Other Financial Liabilities	27	25
Provisions	5	6
Current Income Tax Liabilities (Net)	0	1
Other Current Liabilities	8	7
TOTAL	1,659	1,615

		Standalone	Consolidated
Particulars (Rs. In Crores)	Half Year Ended 30th Sep 21	Year Ended 31st Mar 21	Half Year Ended 30th Sep 21	Year Ended 31st Mar 21
Cash flow from operating activities
Profit before tax	104	104	105	107
Adjustments for noncash items / non operating items	16	24	17	25
Operating profit before working capital changes	120	128	122	132
Working capital reductions/(increases)	(137)	(37)	(137)	(38)
Cash flows generated from operating activities	(17)	91	(15)	94
(Income taxes paid) / Refund (net)	(26)	0^	(26)	0^
Net Cash flows generated from operating activities (A)	(42)	90	(41)	94
Net Cash flows generated from investing activities (B)	39	(59)	38	(62)
Net Cash flows generated from financing activities (C)	(33)	0^	(33)	0^
Net Cash (Decrease) / Increase	(36)	32	(36)	32

Business Overview

Company Overview

• Part of Arvind Mafatlal Group
• Expertise in Rubber Chemical Business over 4 decades
• Largest Rubber Chemicals Manufacturer in India
• Long Term Business Relationships with Tyre Majors (Both Domestic & International)
• Awarded Responsible Care Logo by Indian Chemical Council

+8%	+26%
Revenue *	EBITDA *
+35%	~30%
Operating PBT *	Dividend Payout more than 5 years

* CAGR growth from (FY13-FY21)

Management Team

Mr. Hrishikesh . A. Mafatlal – Promoter & Chairman

• Executive Chairman and Promoter Director of NOCIL Ltd
• B.Com. (Hons.) & has attended the Advanced Management Programme at the Harvard Business School, USA

Mr. P. Srinivasan – Chief Financial Officer

• Chartered Accountant with over 32 years of experience
• Associated with the Company for over 16 years

Dr. Narendra Gangal – Vice President (QA, Analytical & Outsourced Research)

• Ph.D. in Chemistry with 30 years of experience
• Associated with the Company for nearly 14 years

Mr. Milind Shevte – Vice President (Marketing)

• B.E. Chemical Engineering
• Associated with the Company for over 16 years

Mr. S. R. Deo – Managing Director

• M. Tech. in Chemical Engineering from IIT Kanpur
• Associated with the company for over 42 years in various capacities

Dr. Chinmoy Nandi - Vice President (Research & Development)

• Post Graduate & Ph.D. in Organic Chemistry from IIT Bombay
• Associated with the company for nearly 40 years in various R&D capacities

Mr. Rajendra Desai – Vice President (Operations, Corporate HR & Personnel)

• Chemical Engineer with Diploma in Management Studies
• Associated with the company for nearly 39 years

Mr. Ashwinkumar Bhende.- Vice President (Process Engineering, Technology & Projects)

• Chemical Technologist with Diploma in Management Studies with 30 years of experience
• Associated with the company for the last 20 years

Glimpse of our Plants

Navi Mumbai Plant Dahej Plant

• Set up in 1976
• Located in Trans-Thane Creek industrial area at Navi Mumbai, Thane - Belapur's industrial zone designated for the chemical Industry, about 40 kms away from Mumbai
• State-of-the-art technology for the manufacture of the entire range of Rubber Chemicals for Tyre & other Rubber Products

• Commenced operations in March 2013
• Located about 45 kms from Bharuch, Gujarat
• Location has synergistic proximity to petrochemicals industry and excellent connectivity with Dahej and Hazira Port
• Fully automated process plant developed completely with in-house technology

Our Value Proposition

Long Term Relationships with Customers over 40 Countries

02

03

Products & Product Forms

• Wide Range of Rubber Chemical Products
• Varied Product Forms

Sales, Marketing & Technical Service

• Market Responsive Approach
• Strong MTS Team to offer Technical Services

R & D and Quality Assurance

• Experienced, capable & innovative team of R & D scientists.
• Ultra Modern Laboratories & Pilot Plant Facilities
• Latest Analytical Instruments

ONE STOP SHOP With WIDE RANGE to suit MARKET REQUIREMENTS

ANTI-DEGRADANTS/ ANTI-OXIDANTS

▪ These are ingredients in rubber compounds which deter the ageing and inhibit degradation due to oxygen attack of rubber products, thereby enhancing service life

ACCELERATORS

• Increase the speed of vulcanization
• Permit vulcanization to proceed at lower temperature & with greater efficiency

OTHER APPLICATIONS

• Pre vulcanization inhibition, Post vulcanization stabilization, Latex based applications etc.
• Improving Thermal Stability of cross links in rubber products

R&D and Total Quality Management

Research & Technology Development

• NOCIL's Research Centre at Navi Mumbai recognized by Ministry of Science and Technology, Govt. of India
• Key Areas Focussed upon • Process Development, scale up, commercial implementation
• Environmental strategies for sustainable growth
• Research initiatives as per customers' perceived needs

Rubber Chemicals – Industry Trends

Increase in Motor vehicle ownership rates, especially in developing nations would need additional consumption of

NOCIL has been awarded by ICC for rubber processing chemicals "Excellence in Management of Environment" under the large chemical industry

Source : Rubber Statistical Bulletin, Jul - Sept 2021 edition *Annualised based on Jan-Jun data

Non-Chinese Dependable Player

Non-Chinese Dependable & Quality Player with Committed Plans for future growth

Wide Range of Product

Continuous investments done to adopt various innovative environmental technologies for long-term sustainability

Product Testing & Validation

Approved & registered vendor with Major Domestic & International Tyre Players offering Technical Support to customers for Rubber Products / Process Development

Pipeline of New Generation Rubber Chemicals

Development of Niche products using innovative technologies & Green chemistry concepts and new generation environmentally sustainable processes for growth

Entry Barrier

Customers take from 6-18 months to give approval on plant specific basis & same is carried out for various locations globally

Supplier of Choice

Dividend as % of Face Value

For further information, please contact:

NOCIL Ltd. CIN: L99999MH1961PLC012003

Mr. P. Srinivasan - CFO finance@nocil.com

Ms. Mugdha Khare mugdha.khare@nocil.com

www.nocil.com

Company : Investor Relations Advisors :

Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC204285

Mr. Jigar Kavaiya Jigar.kavaiya@sgapl.net +91 9920602034

Mr. Pratik Shah p.s.shah@sgapl.net +91 9870030585

www.sgapl.net