Ref: OAL/BSE/NSE/80/2020-21

21st January, 2021

To To The Manager The Manager Department of Corporate Services, Listing Department, Dalal Street, Mumbai- 400 001 Bandra (East), Mumbai - 400 051 Scrip ID : OAL Symbol: OAL Scrip Code: 500078 Series : EQ

BSE Limited, National Stock Exchange of India Limited Phiroz Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex

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

Dear Sir/Ma'am,

This is to inform you that pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations"), read with Part A of Schedule III of the Listing Regulations, we hereby enclose the Earnings Presentation for the Quarter and Nine Months ended 31st December, 2020.

Pursuant to Regulation 46(2) (0) of the Listing Regulations, the aforesaid Earnings Presentation is also uploaded on the website of the Company i.e.www.orientalaromatics.com.

Kindly take the same on your record.

Thanking you.

For Oriental Aromatics Limited

KIRANPREET KAUR GILL Digitally signed by KIRANPREET KAUR GILL Date: 2021.01.21 08:57:08 +05'30'

Kiranpreet Gill Company Secretary & Compliance Officer

Registered Office 133, Jehangir Building, 2nd Floor, M.G. Road, Fort, Mumbai 400 001, India. T +91-22-66556000 / 43214000 F +91-22-66556099 E [email protected] CIN L17299MH1972PLC285731

www.orientalaromatics.com

EARNINGS PRESENTATION | 9M / Q3-FY21

Executive Summary

Overview

Oriental Aromatics Ltd. is one of the largest Indian manufacturers of a variety of Aroma Chemicals, Camphor, Fragrances and Flavours.
The company is one of the privileged few integrated manufacturers of fragrances and flavours as well as aroma chemicals globally.
The Company aspires to become a global player in the specialty aroma chemicals and use these synergies to become one of the most prominent fragrance and flavour companies.
The company is listed on both NSE and BSE with an approximate Market Capitalisation of INR 18,701 Mn as on December 31, 2020.

Business Mix

Aroma Chemicals and Camphor Ranging from Pinene derivatives, to petrochem derivatives, and even musk and sandalwood derivatives, OAL delivers quality aroma chemicals to clients across the world.
Flavours and Fragrances OAL delivers innovative flavours and fragrance raw materials to marquee FMCG companies.

Manufacturing Plants & Capacities Aroma Chemicals and Camphor:

Bareilly, U.P. 12,000 MTPA
Vadodara, Gujarat 6,700 MTPA

Flavours and Fragrances:

• Ambernath, Maharashtra - 6,000 MTPA

R&D Facilities

Centre for Innovation at Mumbai
Process re-engineering lab at Vadodara

2

Company Overview

Fragrances

Camphor

The Fragrance and Flavours business of Oriental Aromatics was founded by Mr. Keshavlal Bodani in 1955 and has been nurtured and handed down to three generations of the Bodani's.
In August 2008, Oriental Aromatics' promoters acquired a controlling stake of 57.66% in the listed entity of Camphor & Allied Products Ltd.(CAPL), a key supplier of Camphor and other specialty aroma chemicals. Furthermore, in April 2017,Oriental Aromatics was fully amalgamated into the listed entity and thereafter, the name of CAPL was changed to Oriental Aromatics Limited (OAL).
Today, The Company is one of the largest manufacturers of variety of specialty-based aroma chemicals, and camphor, with a vast product range including Synthetic Camphor, Terpineols, Pine Oils, Astromusk, several other specialty aroma chemicals finding applications in a wide array of industries ranging from like Cosmetics, Soaps, Pharmaceuticals and many more.
OAL's custom designed fragrances are found in fine fragrances, incense sticks, candles, and various FMCG products like soaps, shampoos, hair oils, detergents, etc. and it also provides flavours for icecreams, bakeries, confectionaries, beverages, chewing gums, chocolates etc.

• The Company has evolved into a one stop solution provider for the flavour and fragrance industry.

Value Chain

Sources of Raw

Pine Tree

Petroleum

etc. Aleuritic Acid (Shellac Powder)

Alpha Pinene

Aroma Ingredients Speciality Aroma Chemicals Pine Oil Terpene based aroma chemicals Others Materials Raw Materials Products/Blends

Synthetic Camphor

Fragrance and Flavour Products

Industrial Fragrance Compounds

Flavour Compounds

Petro Chemicals Hair Oils, Customized Fragrance Compounds

Cosmetics

Pooja

Balms

Shampoos, Soaps

9M/Q3-FY21 Financial Overview

Q3-FY21	StandaloneFinancial Performance			Q3-FY21ConsolidatedFinancial Performance
INR1,907 MnRevenue fromOperations	INR538 MnEBITDA	28.21%EBITDA Margins	INR1,907 MnRevenue fromOperations	INR533 MnEBITDA	27.95%EBITDA Margins
INR364 MnNet Profit	19.09%PAT Margins	INR 10.80Basic/Diluted EPS	INR364 MnNet Profit	19.09%PAT Margins	INR 10.80Basic/Diluted EPS
9M-FY21	Standalone	Financial Performance	9M-FY21	Consolidated	Financial Performance
INR4,878 MnRevenue fromOperations	INR1,214 MnEBITDA	24.89%EBITDA Margins	INR4,878 MnRevenue fromOperations	INR1,212 MnEBITDA	24.85%EBITDA Margins
INR796 MnNet Profit	16.32%PAT Margins	INR 23.64Basic/Diluted EPS	INR795 MnNet Profit	16.30%PAT Margins	INR 23.63Basic/Diluted EPS

During the quarter, the company witnessed a healthy demand across all product categories i.e. Aroma Chemicals, Flavours & Fragrances and Camphor.
Sales Volumes for the quarter grew by 7% on a Q-o-Q basis and 13% on a Y-o-Y basis.
Sales Realizations for Camphor improved during the quarter on a Y-o-Y and Q-o-Q basis, while realizations for the aroma chemicals and Flavours & Fragrance division were flattish.
The company was carrying low-cost inventory of Raw Material and was successful in getting higher price realisation for its finished goods, this has resulted in better margins for the current quarter; although the company has witnessed increase in the raw material prices since.
Cash profit stood at INR 406 Mn, an increase of 82% on a Y-o-Y basis and 7% on a Q-o-Q basis.
Net Debt/Equity ratio as on 31st December 2020 further improved to 0.03x from 0.06x as on 31st March 2020.
CapEx update: The company received its land allotment for the greenfield capacity expansion project at Mahad, Maharashtra in the month of October 2020 and has initiated its process for application of environmental clearance and other such approvals.

Q3-FY21 Standalone Income Statement (IND-AS)

Particulars (INR Mn)	Q3-FY21	Q3-FY20	Y-O-Y	Q2-FY21	Q-O-Q
Revenue from Operations	1,907	1,754	8.7%	1,838	3.8%
Total Expenses	1,369	1,474	(7.1)%	1,347	1.6%
EBITDA	538	280	92.1%	491	9.6%
EBITDA Margin (%)	28.21%	15.96%	1,225 Bps	26.71%	150 Bps
Other Income	3	17	(82.4)%	3	NA
Depreciation	42	47	(10.6)%	46	(8.7)%
Finance Cost	3	17	(82.4)%	3	NA
PBT	496	233	112.9%	445	11.5%
Tax	132	54	144.4%	113	16.8%
PAT	364	179	103.4%	332	9.6%
PAT Margin (%)	19.09%	10.21%	888 Bps	18.06%	103 Bps
Basic/Diluted EPS (INR)	10.80	5.32	103.0%	9.85	9.6%

9M-FY21 Standalone Income Statement (IND-AS)

Particulars (INR Mn)	9M-FY21	9M-FY20	Y-O-Y
Revenue from Operations	4,878	5,913	(17.5)%
Total Expenses	3,664	4,999	(26.7)%
EBITDA	1,214	914	32.8%
EBITDA Margin (%)	24.89%	15.46%	943 Bps
Other Income	12	33	(63.6)%
Depreciation	135	139	(2.9)%
Finance Cost	14	84	(83.3)%
PBT	1,077	724	48.8%
Tax	281	98	186.7%
PAT	796	626	27.2%
PAT Margin (%)	16.32%	10.59%	573 Bps
Basic/Diluted EPS (INR)	23.64	18.60	27.1%

Q3-FY21 Consolidated Income Statement (IND-AS)

Particulars (INR Mn)	Q3-FY21	Q3-FY20	Y-O-Y	Q2-FY21	Q-O-Q
Revenue from Operations	1,907	1,754	8.7%	1,838	3.8%
Total Expenses	1,374	1,478	(7.0)%	1,348	1.9%
EBITDA	533	276	92.9%	490	8.8%
EBITDA Margin (%)	27.95%	15.74%	1,221Bps	26.66%	129 Bps
Other Income	7	18	(61.1)%	5	40.0%
Depreciation	42	47	(10.6)%	46	(8.7)%
Finance Cost	2	17	(88.2)%	3	(33.3)%
PBT	496	230	115.3%	446	11.2%
Tax	132	54	144.4%	114	15.8%
PAT	364	176	106.4%	332	9.6%
PAT Margin (%)	19.09%	10.03%	906 Bps	18.06%	103 Bps
Basic/Diluted EPS (INR)	10.80	5.24	106.1%	9.88	9.3%

9M-FY21 Consolidated Income Statement (IND-AS)

Particulars (INR Mn)	9M-FY21	9M-FY20	Y-O-Y
Revenue from Operations	4,878	5,918	(17.6)%
Total Expenses	3,666	5,009	(26.8)%
EBITDA	1,212	909	33.3%
EBITDA Margin (%)	24.85%	15.36%	949 Bps
Other Income	12	35	(65.7)%
Depreciation	135	139	(2.9)%
Finance Cost	13	84	(84.5)%
PBT	1,076	721	49.2%
Tax	281	98	186.7%
PAT	795	623	27.6%
PAT Margin (%)	16.30%	10.53%	577Bps
Basic/Diluted EPS (INR)	23.63	18.52	27.6%

Historical Financial Overview

Historical Standalone Income Statement (IND-AS)

Income Statement (Mn)	FY18	FY19	FY20	9M-FY21
Total Operational Income	5,057	7,526	7,594	4,878
Total Expenses	4,398	6,372	6,319	3,664
EBITDA	659	1,154	1,275	1,214
EBITDA Margin (%)	13.03%	15.33%	16.79%	24.89%
Other Income	41	13	70	12
Depreciation	148	177	190	135
FinanceCost	69	130	120	14
Exceptional Items	-	(101)	-	-
PBT	483	759	1,035	1,077
Tax	180	260	167	281
Profit After Tax	303	499	868	796
PAT Margin (%)	6.00%	6.63%	11.43%	16.32%
EPS (AfterExceptional Items)	9.01	14.82	25.78	23.64

Historical Standalone Balance Sheet

Liabilities (INR Mn)	FY19	FY20	H1-FY21	Assets (INR Mn)	FY19	FY20	H1-FY21
Shareholders Fund				Assets
Share Capital	168	168	168	Non-Current Assets
Other Equity	3,752	4,470	4,898	Property, Plant and Equipment	1,941	1,814	1,755
				IntangibleAsset	58	24	7
Non-Current Liabilities				Capital WIP	8	17	132
FinancialLiabilities				Right ofuse-Lease	-	74	70
i) Long-Term Borrowings	118	15	-	Goodwill on amalgamation	450	450	450
ii) Other Financial Liabilities	-	8	6	Financial Assets
Deferred Tax Liabilities (Net)	342	261	260	Investment in Subsidiaries	-	60	60
Long-Term Provisions	19	18	18	Other financial assets	37	37	38
				Income Tax Assets (Net)	30	32	18
				Other non-Current assets	3	6	25
Current Liabilities				Current Assets
FinancialLiabilities				Inventories	2,027	1,623	1,997
i) Short-Term Borrowings	1,622	431	129	Financial Assets
ii) Trade Payables	534	566	663	Trade and other Receivable	1,610	1,524	1,351
iii) Other financial Liabilities	146	114	107	Cash & Cash Equivalents	36	131	40
Short-Term Provisions	14	17	22	Bank Balanceother than above	13	18	18
Current Tax Liabilities	-	-	-	Other Current Financial Assets	14	8	10
Other Current liabilities	17	21	21	Other Current Assets	504	270	320
				Non-CurrentAssets classified as heldfor Sale	1	1	1
TOTAL EQUITY AND LIABILITIES	6,732	6,089	6,292	TOTAL ASSETS	6,732	6,089	6,292

Historical Consolidated Income Statement (IND-AS)

Income Statement (Mn)	FY18	FY19	FY20	9M-FY21
Total Operational Income	5,060	7,547	7,599	4,878
Total Expenses	4,413	6,397	6,335	3,666
EBITDA	647	1,150	1,264	1,212
EBITDA Margin (%)	12.79%	15.24%	16.63%	24.85%
Other Income	4	13	74	12
Depreciation	148	178	190	135
FinanceCost	73	130	119	13
Exceptional Item	-	(23)	-	-
PBT	430	832	1,029	1,076
Tax	180	261	167	281
Profit After Tax	250	571	862	795
PAT Margin (%)	4.94%	7.57%	11.34%	16.30%
EPS (AfterExceptional Items)	7.42	16.98	25.61	23.63

Historical Consolidated Balance Sheet

		Oriental Aromatics Ltd.
--	--	-------------------------	--

Liabilities (INR Mn)	FY19	FY20	H1-FY21	Assets (INR Mn)	FY19	FY20	H1-FY21
Shareholders Fund				Assets
Share Capital	168	168	168	Non-Current Assets
Other Equity	3,751	4,473	4,901	Property, Plant and Equipment	1,941	1,815	1,755
				Goodwill on Amalgamation	450	450	450
				Capital WIP	8	18	132
FinancialLiabilities				Intangible Assets	58	24	7
i) Long-Term Borrowings	118	15	-	Right to use	-	74	70
ii) Other Financial Liabilities	-	8	6	Other Financial Assets	37	37	38
Deferred Tax Liabilities (Net)	342	260	260	Income Tax Assets (Net)	30	32	18
Long Term Provisions	19	18	18	Other non-Current assets	4	6	37
Current Liabilities				Current Assets
Financial Liabilities				Inventories	2,029	1,623	1,997
i) Short-Term Borrowings	1,622	431	129	Financial Assets
ii) Trade Payables	535	557	654	Trade and other Receivable	1,600	1,514	1,340
iii) Other financial Liabilities	146	115	107	Cash & Cash Equivalents	50	173	52
Short-Term Provisions	14	17	22	Bank Bal other than above	13	38	57
Current Tax Liabilities	-	-	-	Other Current Financial Assets	8	8	11
Other Current liabilities	17	21	21	Other Current Assets	503	270	321
				Non-Current Assets Classified as heldfor Sale	1	1	1
TOTAL EQUITY AND LIABILITIES	6,732	6,083	6,286	TOTAL ASSETS	6,732	6,083	6,28617

Financial Performance (Consolidated)

EBITDA (INR Mn) EBITDA MARGIN (%)

PAT (INR Mn) PAT MARGIN (%)

Cash flow from operations (CFO) & Free Cash Flows (FCF) (INR Mn)

RoE (%) and RoCE (%)

Net D/E (x)

Capital Market Information

1 Year Stock Return as on 31st December, 2020

Price Data (31stDecember , 2020)
Face Value (INR)	5.0
CMP (INR)	555.7
52 Week H/L (INR)	640.0/117.1
Avg. Net Turnover(INR Mn)	14.1
Market Cap (INRMn)	18,701.3
Equity Shares Outstanding (Mn)	33.7

Shareholding Pattern as on 31st December, 2020

This presentation and the accompanying slides (the "Presentation"), which have been prepared by Oriental Aromatics 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 whatsoever. 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 forwardlooking 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 tire 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.

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.

For further information please contact our Investor Relations Representatives:

For further information please contact our Investor Relations Representatives: Valorem Advisors Mr. Anuj Sonpal, CEO Tel: +91-22 3006-7521/22/23/24 Email: [email protected]

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ORIENTAL AROMATICS LIMITED Earnings Release 2021