Prakash Industries Ltd. — Earnings Release 2021

May 31, 2021

- Prakash Industries Limited

Srivan, Bijwasan, New Delhi -110061 GIN: L27109HR1980PLC010724 Tel.: 25305800, 28062115 Fax: 91-11-28062119 E-mail : pilho@prakash.com Website : www.prakash.com

PIL/SE/PR/2021

Listing Department National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, Plot No. C/1 G Block,Bandra-Kurla Complex, Sandra (E) Mumbai - 400051

31 51May, 2021

Listing Department BSE Ltd. Phiroze Jeejeebhoy Towers Dalal Street, Mumbai - 400001

Company Symbol : PRAKASH

Company Code : 506022

Sub: Press Release

Dear Sir,

In terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing a press release given today by the Company for your information and record.

Thanking you,

Yours faithfully, For Prakash Industries Limited

Ashwini Kumar Digitally signed by Ashwini Kumar Date: 2021.05.31 14:22:40 +05'30'

(Ashwini Kumar) Company Secretary

Encls : as above

PRESS RELEASE

Date: 31•t May, 2021

PRAKASH INDUSTRIES LIMITED

FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2021

Q4FY2021 vs Q4FY2020 ~ in Crores)

During the quarter, the Company has achieved Net Sales of - 1032 Crores and EBITDA of - 107 Crores, reflecting growth of 59% and 29% respectively over the corresponding quarter of last financial year. Net Profit* (Total Comprehensive Income) of the Company for the quarter has increased to - ~64 Crores reflecting growth of 268% on YoY basis.

During FY2021, the Company has achieved Net Sales of - 3216 Crores and EBITDA of - 323 Crores. After providing for interest, depreciation and tax, the Net Profit of the Company for the year is - ~104 Crores.

• Operational Highlights

• Highest yearly sales volume of 9.55 lakh tonnes of Steel, up by 3% over previous year
• Highest yearly production of 9.06 lakh tonnes of ORI, up by 11 % over previous year
• Highest yearly Power generation of 11396 lakh units

• Mining Operations

The Company has mined -4. 7 lakh tonnes of iron ore from its Sirkaguttu mine, Odisha during the year. Going forward, the ramped extraction will result in higher margins.

Further, the Company has received in-principle approval for mining lease for Iron Ore mineral at District Kabirdham (Kawardha) in the State of Chhattisgarh.

• Issue of Equity on Preferential Basis

The shareholders of the Company in their EGM dated 21st November, 2020 had approved the issue of 75 Lakh Convertible Equity Warrants on preferential basis to the Promoter. In accordance of the same, the Promoter was issued Convertible Equity Warrants, convertible within a period of 18 months. However, as the Promoter already fully paid the entire amount, the Company issued 75 Lakh Equity Shares of the Company to the Promoter on 22nd March, 2021.

• Expansion in Steel Melting Shop CSMS)

The Company has expanded the installed capacity in its SMS division by commissioning 2 nos. new energy efficient Induction Furnaces. The enhanced capacity now stands at 12.5 lakh tonnes per annum.

• CSR Initiatives

The Company has actively participated with State Government agencies to combat COVID-19 pandemic by fulfilling substantial oxygen requirement in District Janjgir-Champa, Chhattisgarh, besides supplying oxygen concentrators, ventilators, medicines and PPE kits. The Company further worked to augment basic amenities and other infrastructure facilities at COVID centres in the surrounding areas.

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Disclaimer: This release contains f arward-laaking statements based on the currently held beliefs and assumptions of the management of Prakash Industries Limited (PIL), which ore expressed in good faith and, in their opinion, reasonable. Forward looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or industry results, to differ materially from the results ar performance implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients af this document are cautioned not to place undue reliance on these forward-looking statements.