Paradeep Phosphates Limited — Earnings Release 2023

Nov 5, 2022

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November 05, 2022

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) MUMBAI - 400 051

BSE Limited, Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street MUMBAI - 400 001

Dear Sir/Madam,

Company's Scrip Code in BSE : 543530 Company’s Symbol in NSE : PARADEEP ISIN : INE088F01024

Sub: Press Release - Unaudited Financial Results of the Company for the quarter ended September 30, 2022

With reference to captioned subject, we enclose a copy of the press release issued by the Company in connection with the Unaudited Financial Results for the quarter ended September 30, 2022, for your information and record.

Thanking you,

Yours faithfully,

For Paradeep Phosphates Limited

SACHIN Digitally signed by SACHIN SHANKA SHANKAR PATIL Date: 2022.11.05 R PATIL 12:50:42 +05'30' Sachin Patil Company Secretary

Encl: As above

PARADEEP PHOSPHATES LIMITED

CIN No.: L24129OR1981PLC001020 Bayan Bhawan, Pandit J N Marg, Bhubaneswar - 751001 Tel: +0674 666 6100 Fax: +0674 2392631 www.paradeepphosphates.com

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Q2 FY23: Revenue from Operations at Rs 2,864 Cr, up by 48%

04[th] November, 2022: Paradeep Phosphates Ltd (PPL) today declared its financial results for the quarter ended 30th September, 2022. The Company reported Revenue from Operations at Rs. 2,864 Cr, an increase of 48% as compared to Rs. 1,935 Cr of the corresponding quarter of the previous year. Adjusted EBITDA for the quarter is Rs. 230 Cr and PAT for the quarter is Rs. 51 Cr. The EBITDA is adjusted for a one-time exceptional cost of Rs. 42 Cr. related to the acquisition of the Goa Plant in June 2022.

Commenting on the results, Mr. S Krishnan, Managing Director, Paradeep Phosphates said:

“During the second quarter, we have been able to start the Goa Plant operations and all the 3 trains there are fully operational now. Also the completion of the revamp process of the 4[th] granulation train at the Paradeep Plant is in advanced stages. Regarding the product mix, our choice to manufacture a higher amount of N-20 and lower DAP this quarter reflects the flexibility of our production trains to adapt as per market demand. However, certain one time expenses and a delay in commissioning the NPK trains at the Goa Plant resulted in higher fixed costs and a consequential impact on EBITDA. Going forward, we believe robust demand experienced in Kharif will continue into Rabi and the industry will benefit from low inventory levels, high reservoir levels and an overall decline in some raw material prices.”

Performance Highlights Q2 FY23

• Revenue from Operations at Rs. 2,864 crores, up by 48%, as compared to Rs. 1,935 crores of Q2 FY22

• EBITDA at Rs. 188 crores in Q2 FY23. The adjusted EBITDA, for the one time Goa Plant acquisition cost, is Rs. 230 Cr

• Total fertilizers produced at 506,195 MT compared with 368,340 MT in Q2 FY22

• Record production of 216,937 MT of N-20 in Q2 FY23 compared with 151,870 MT in Q2 FY22

• Three new NPK grades - NPK 14:28:0, NPK 14:28:0:13 and NPK 24:24:0:0 - launched. Improves farmer choice in their quest for soil-specific and cropspecific applications

• Goa fertilizer plant, which was acquired on 01 June 2022, has produced 2,09,115 tons of finished fertilizers in Q2 FY23 which includes 1,24,375 tons of Urea

• Raw material cost have increased in this quarter owing to steep global commodity prices. Certain raw materials prices, however, have softened in October

PARADEEP PHOSPHATES LIMITED

CIN No.: L24129OR1981PLC001020

Bayan Bhawan, Pandit J N Marg, Bhubaneswar - 751001 Tel: +0674 666 6100 Fax: +0674 2392631 www.paradeepphosphates.com

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• Finance cost have increased due to the increase in subsidies outstanding and currency volatility compared to previous year

• Fertilizer demand expected to remain firm for the commencing Rabi season, given the low stocks and high reservoir levels

About Paradeep Phosphates Limited

Paradeep Phosphates Limited (PPL) is one of India's largest private sector phosphatic companies, producing a wide range of phosphatic grades including DAP, N-10, N-12, N-14, N-19, N-20 and N-28. The Company’s Goa Plant also produces Urea. PPL is a key supplier of fertilizers to the states of Maharashtra, Karnataka, Odisha, Bengal, Uttar Pradesh, Madhya Pradesh, Andhra Pradesh, Telengana, Chattisgarh and Madhya Pradesh. The Company is also a major supplier of various industrial products like Phospho gypsum, Zypmite, Hydrofluorosilicic Acid (HFSA) and Sulphuric Acid.

In May 2022, PPL successfully completed a Rs. 1,500 Cr initial public offering (IPO) and used part of the proceeds to complete the acquisition of the 1.2 million MT fertilizer plant at Goa. PPL’s current promoter, “Zuari Maroc Phosphates Pvt Ltd”, is a 50:50 joint venture between Zuari Agrochemicals and the OCP Group of Morocco.

PPL currently has a total capacity of 3 million MT, of which 0.4 million MT is Urea and the remaining 2.6 million MT is phosphatic fertilisers. The Company has two manufacturing facilities, one at Paradeep in Odisha and another at Zuarinagar, Goa.

The company's products are marketed under the brand names of " Jai Kisaan " and " Navratna " with over four decades of brand equity. The company has a customer base of 8+ million farmers spread across 16 states.

For more information please contact: Susnato Lahiri Investor Relations Tel: +91-80-46812533 Email: susnato.lahiri@adventz.com

PARADEEP PHOSPHATES LIMITED

CIN No.: L24129OR1981PLC001020 Bayan Bhawan, Pandit J N Marg, Bhubaneswar - 751001 Tel: +0674 666 6100 Fax: +0674 2392631 www.paradeepphosphates.com