Ambuja Cements : Investor deck Q3 FY'24

Operational

& Financial Highlights

For the Quarter Ended December 31, 2023

Performance at a glance Q3 FY24

Ambuja Cement consolidated

REVENUE

(in R Cr)

1. 222+

(+3%)

Q3
FY24	8,129
Q3
FY23	7,907

EBITDA

(Excluding other income, in R Cr)

1. 711+

(+70%)

Q3FY24
1,732
Q3FY23
1,021

EBITDA

(Excluding other income, in R/Ton)

R481+

(+65%)

Q3FY24
1,225
Q3FY23
744

PAT

(in R Cr)

1. 602+

(+123%)

Q3FY24
1,090
Q3FY23
488

Highest ever PMT EBITDA over last 10 qtrs

2

Performance at a glance 9M FY24

Ambuja Cement consolidated

REVENUE

(in R Cr)

R1,195+

(+5%)

9M
FY24	24,266
9M
FY23	23,071

EBITDA

(Excluding other income, in R Cr)

R2,242+

(+91%)

9M
FY24	4,701
9M
FY23	2,459

EBITDA

(Excluding other income, in R/Ton)

R497+

(+82%)

9M
FY24	1,103
9M
FY23	606

PAT

(in R Cr)

R1,807+

(+129%)

9M
3,212
FY24
9M
FY23	1,405

Net worth increased by Rs 4,067 cr, stands @Rs 42,824 cr

3

Cement Business Capacity (MTPA)

6.1	1.5		76.1	1.3	$		77.4

67.5 1.0

Ambuja's	Ametha	Sanghi Ind.	Asian	Ambuja's	Dahej	Adani
Consolidated	Dec'23	Ltd.	Concretes	Consolidated	2023	Cement
Capacity		Dec'23	& Cements	Capacity		Business
Sep'22			Jan'24	as on Date		as on Date
(at the time of
acquisition)

32 MTPA additional cement capacity under implementation at various stages taking

total capacity to 110 MTPA (80% of 140 MTPA targeted capacity by FY 2028)

$ Ambuja/ACC have long term purchase agreement with Dahej plant of Adani Cement Industries Ltd., 100% subsuduary of AEL

Contents

01 02

Adani Group		Adani Cement -
Profile	6	Overview

04 05

03

	Performance
10	Highlights	14

06

ESG Update31

5

Accolades & Awards

Abbreviation

47

51

01 Adani Group

Profile

ADANI GROUP	ADANI CEMENT	PERFORMANCE	ESG	ACCOLADES &	ABBREVIATIONS
PROFILE	OVERVIEW	HIGHLIGHTS	UPDATE	AWARDS

Adani: A World Class Infrastructure & Utility Portfolio

Flagship

Infrastructure & Utility Core Portfolio

Primary Industry

Emerging B2C

Incubator

(72.6%)

AEL

Energy & Utility

(56.4%)	(73.2%)
AGEL		ATL
Renewables		T&D
(37.4%)	(71.8%)
ATGL		APL
Gas Discom		IPP

Transport & Logistics

(65.9%)	(100%)
APSEZ		NQXT1
Ports & Logistics

Materials, Metal & Mining

(63.2%)

Cement4

(100%)

Copper, Aluminum

(100%)

PVC

(100%)

Specialist

Manufacturing

Direct to consumer

(44.0%)

AWL

Food FMCG

(64.71%

)

NDTV

(100%)	(50%)	(100%)	(100%)
ANIL		AdaniConneX3		AAHL		ARTL
New Industries		Data Centre		Airports		Roads

(100%)

Mining Services & Commercial Mining

(100%)

ADL

Digital

Adani Portfolio's

Listed Entities

(%): Promoter equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries

A multi-decade story of high growth centered around infrastructure & utility core

Data as of December 31, 2023. 1 . NQXT: North Queensland Export Terminal | 2. ATGL: Adani Total Gas Ltd, JV with Total Energies | 3. Data center, JV with EdgeConnex | 4) Cement business includes 63.2% stake in Ambuja Cement which in turn owns 50.05% in ACC Limited. Adani directly owns 6.65% stake in ACC Limited. Ambuja has completed the

acquisition of Sanghi Industries and holds 54.5% stake in Sanghi Industries as on 31st Dec'23. | 5. Includes the manufacturing of Defense and Aerospace Equipment; AEL: Adani Enterprise Limited; APSEZ: Adani Ports and Special Economic Zone Limited; AESL: Adani Energy Solutions Limited; T&D: Transmission & Distribution; APL: Adani Power Limited; AGEL:

Adani Green Energy Limited; AAHL: Adani Airport Holdings Limited; ARTL: Adani Roads Transport Limited; ANIL: Adani New Industries Limited; AWL: Adani Wilmar Limited; ADL: Adani Digital Limited | Note - Purple color represent public traded listed verticals;

7

ADANI GROUP	ADANI CEMENT	PERFORMANCE	ESG	ACCOLADES &	ABBREVIATIONS
PROFILE	OVERVIEW	HIGHLIGHTS	UPDATE	AWARDS

Adani Portfolio: Decades long track record of industry best growth with national footprint

Secular growth with world leading efficiency

Growth 3x 6		Growth 4x 6
EBITDA 70% 1,2		EBITDA 92% 1,4

Growth 3x 6		Growth 1.4x 6
EBITDA 91% 1,3,5		EBITDA 19% 1,3

Note: 1. Data for FY23; 2. Margin for indian ports business only, Excludes forex gains/losses; 3. EBITDA = PBT + Depreciation + Net Finance Costs - Other Income; 4. EBITDA Margin represents EBITDA earned from power supply 5. Operating EBITDA margin of transmission business only, does not include distribution business, PBT- Profit before tax, ATGL-Adani Total Gas Limited, AEL: Adani Enterprises Limited, APSEZ: Adani Ports and Special Economic Zone Limited, AESL: Adani Energy Solutions Limited, APL: Adani Power Limited, AGEL: Adani Green Energy Limited l Growth represents the comparison with respective industry segment. 6. Growth pertains to expansion and development aligned with market growth. Growth of respective Adani portfolio company vs. Industry growth is as follows: APSEZ's cargo volume surged from 113 MMT to 339 MMT (13%) between 2014 and 2023, outpacing the industry's growth from 972 MMT to 1433 MMT (4%). AGEL's operational capacity expanded from 0.3 GW to 8.1 GW (60%) between 2016 and 2023, surpassing the industry's growth from 46 GW to 125 GW (15%). AESL's transmission length increased from 6,950 ckm to 19,779 ckm (16%) between 2016 and 2023, surpassing the industry's growth from 3,41,551 ckm to 4,71,341 ckm (5%). ATGL expanded its geographical areas from 6 to 52 (31%) between 2015 and 2023, outperforming the industry's growth from 62 to 293 (21%).

8

National footprint with deep coverage

AEL

APSEZ

AGEL

ATGL

AESL

APL

Adani Cement

Adani's Core Infra. Platform -

320 Mn

Userbase

ADANI GROUP	ADANI CEMENT	PERFORMANCE	ESG	ACCOLADES &	ABBREVIATIONS
PROFILE	OVERVIEW	HIGHLIGHTS	UPDATE	AWARDS

Adani Portfolio: Decades long track record of industry best growth with national footprint

Phase	Development	Operations	Post Operations
Center of Excellence	Project Management & Assurance Group	AIMSL1	Policy -Strategy - Risk

Activity

Origination	Site Development	Construction	Operation	Capital Mgmt
• Analysis & market	• Site acquisition	• Engineering & design	• Life cycle O&M planning	• Redesigning capital structure of assets
intelligence	• Concessions & regulatory	• Sourcing & quality levels	• Asset Management plan	• Operational phase funding consistent with
• Viability analysis	agreements
• Equity & debt funding at		asset life
• Strategic value	• Investment case development
project

Performance

India's Largest		Longest Private HVDC Line in Asia
Commercial Port	(at	(Mundra - Mohindergarh)
Mundra)
Highest Margin		Highest line availability
among Peers

2,140 MW Hybrid cluster operationalized in Rajasthan in FY23

India's first and World's

largest solar-wind hybrid cluster

Energy Network Operation Center (ENOC)

Centralized continuous monitoring of plants across India on a single cloud-based platform

Duration Risk Matching

Forex Currency Risk Management Interest Rate Risk management

Governance & Assurance

102March6			5%
	34%	11%	March2023
14%
	15%
31%	55%
	3%	2%
			29%
PSU	Pvt. Banks	Bonds NBFCs & FIs
DII	Global Int. Banks		PSU - Capex LC

9

Note 1 Adani Environmental Resource Management Services Ltd. (additional company is being proposed)

O&M: Operations & Maintenance, HVDC: High voltage, direct current, PSU: Public Sector Undertaking (Public Banks in India), GM TN: Global Medium-Term Notes SLB: Sustainability Linked Bonds, AEML: Adani Electricity Mumbai Ltd., AIMSL : Adani Infra

Mgt Services Pvt Ltd, IG: Investment Grade, LC: Letter of Credit, DII: Domestic Institutional Investors, COP26: 2021 United Nations Climate Change Conference; AGEL: Adani Green Energy Ltd . ,NBFC: Non-Banking Financial Company; ABEX - Adani Business Excellence

02 Adani Cement

(Ambuja + ACC + Sanghi) - Overview