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GUJARAT FLUOROCHEMICALS LIMITED

QUARTERLY INVESTOR UPDATE


Q1 FY16

DISCLAIMER

This presentation and the following discussion may contain forward looking statements by Gujarat Flurochemicals
Limited (GFL or the Company) that are not historical in nature. These forward looking statements, which may
include statements relating to future state of affairs, results of operations, financial condition, business prospects,
plans and objectives, are based on the current beliefs, assumptions, expectations, estimates, and projections of the
management of GFL about the business, industry and markets in which GFL operates.
These statements are not guarantees of future performance, and are subject to known and unknown risks,
uncertainties, and other factors, some of which are beyond GFLs control and difficult to predict, that could cause

actual results, performance or achievements to differ materially from those in the forward looking statements.
Such statements are not, and should not be construed, as a representation as to future performance or achievements
of GFL. In particular, such statements should not be regarded as a projection of future performance of GFL. It should

be noted that the actual performance or achievements of GFL may vary significantly from such statements.

DISCUSSION SUMMARY

Q1 FY16 RESULTS HIGHLIGHTS

CONSOLIDATED RESULTS
CHEMICALS BUSINESS
WIND TURBINE MANUFACTURING BUSINESS
WIND FARMING BUSINESS
FILM EXHIBITION BUSINESS
SHAREHOLDING STRUCTURE
FINANCIAL SUMMARY
BUSINESS STRATEGY & OUTLOOK
ANNEXURE

Q1 FY16 RESULTS HIGHLIGHTS


CONSOLIDATED RESULTS

REVENUES *

EBITDA ** & EBITDA MARGIN

14,127.6

19.5%

19.1%

8,907.1

5.2%

5.0%

2,696.6
1,733.7

59 %

Q1 FY15

PAT # & PAT MARGIN

Q1 FY16

738.2
441.5

56 %

Q1 FY15

Q1 FY16

EBIDTA

EBIDTA Margin %

Q1 FY15

PAT

67 %

Q1 FY16

PAT %

Strong Growth driven by Robust Operating Performance across almost all verticals

Note: * Revenue from Operations, ** EBIDTA excluding Other Income, # PAT after minority interest and share of associates

In Rs. Mn

Q1 FY16 RESULTS HIGHLIGHTS


CONSOLIDATED REVENUES BREAKUP
CONSOLIDATED REVENUES BUSINESS WISE BREAKUP

14,127.6
50 %

8,907.1

19 %

3,486.8

% Share

Q1 FY15

Q1 FY16

Chemicals Business

31.8%

25.0%

Wind Turbine Manufacturing Business

34.2%

45.0%

Wind Farming Business

6.4%

3.2%

Film Exhibition Business

26.1%

24.7%

Intersegment

1.5%

2.1%

458.2

2,323.8
6,358.3
568.5

109 %

3,043.7
24 %
2,836.3

Q1 FY15

3,527.2

Q1 FY16

Q1 FY16 RESULTS HIGHLIGHTS


CONSOLIDATED EBITDA BREAKUP
CONSOLIDATED EBITDA BUSINESS WISE BREAKUP

2,696.6

% Share

Q1 FY15

Q1 FY16

Chemicals Business

28.2%

29.0%

123 %
655.7

1,733.7

28 %

385.4

Wind Turbine Manufacturing Business

27.1%

32.0%

84 %

863.7

Wind Farming Business

30.7%

14.3%

Film Exhibition Business

16.9%

24.3%

Intersegment

-3.0%

0.4%

293.6
532.4

470.4
60 %
782.0
489.6
Q1 FY15

Q1 FY16

Q1 FY16 RESULTS HIGHLIGHTS


CONSOLIDATED PAT BREAKUP
CONSOLIDATED PAT BUSINESS WISE BREAKUP

738.2

% Share

Q1 FY15

Q1 FY16

Chemicals Business

38.3%

36.7%

Wind Turbine Manufacturing Business

53.2%

68.4%

Wind Farming Business

23.6%

0.9%

Film Exhibition Business

10.4%

34.2%

Intersegment

-25.4%

-40.2%

452 %

252.6
6.8
93 %
441.5
45.8

505.0
104.0

115 %

234.8
60 %
169.2

270.8

-112.3
-297.0

Q1 FY15

Q1 FY16

Q1 FY16 RESULTS HIGHLIGHTS


CHEMICALS BUSINESS - STANDALONE RESULTS

REVENUES *

EBITDA ** & EBITDA MARGIN

6.0%

17.3%

270.8

782.0
169.2

489.6

60 %

60 %

24 %

Q1 FY15

7.7%

22.2%

3,527.2
2,836.3

PAT & PAT MARGIN

Q1 FY16

Q1 FY15

EBIDTA

Q1 FY16

EBIDTA %

Q1 FY15

PAT

Q1 FY16

PAT %

Strong growth in revenues due to commencement of speciality chemicals and exports of refrigerants
Improvement in margins due to higher operating efficiencies

* Revenue from Operations, ** EBIDTA excluding Other Income

In Rs. Mn

Q1 FY16 RESULTS HIGHLIGHTS


CHEMICALS BUSINESS
REVENUES BREAKUP
3,527.2
116 %
2,836.2
154.2

1,194.5

19 %

% Share

Q1 FY15

Q1 FY16

Caustic Soda

24.2%

18.9%

Chloromethanes

19.4%

16.5%

Refrigerant Gases

8.9%

27.7%

PTFE

42.1%

27.4%

Other Products

5.4%

9.5%

333.5

967.5

287 %
976.2

252.5

6%

549.2

685.8

582.2
3%

Q1 FY15

667.8
Q1 FY16

Caustic Soda

Chloromethanes

PTFE

Other Products

Refrigerant Gases

Q1 FY16 RESULTS HIGHLIGHTS


WIND TURBINE MANUFACTURING BUSINESS (INOX WIND LIMITED)
REVENUES*

EBITDA ** & EBITDA MARGIN


6,358.3

15.5%

13.6%

PAT & PAT MARGIN


7.9%

7.7%

863.7

505.0

3,043.7
470.4

Q1 FY15

234.8
115 %

84 %

109 %

Q1 FY15

Q1 FY16

EBIDTA

Q1 FY16
EBIDTA %

Q1 FY15
PAT

Q1 FY16
PAT %

Strong Operational Performance


Growth Momentum Maintained
Note: * Revenue from Operations, ** EBIDTA excluding Other Income

In Rs. Mn

10

Q1 FY16 RESULTS HIGHLIGHTS


WIND TURBINE MANUFACTURING BUSINESS (INOX WIND LIMITED)

REVENUE BREAKUP - SALES & COMMISIONING VOLUMES (MW)

REVENUES BREAKUP SALE OF PRODUCTS VS. SERVICES (RS MN)


6,337.7

120

464.3

30

10.0

3,031.2
5,873.4

78

90
66

3,021.2

Q1 FY15
Sales - Turnkey

Q1 FY16
Sales - Equipment Supply

Commisioning

Q1 FY15
Sale of Products

Q1 FY16
Sale of Services

11

Q1 FY16 RESULTS HIGHLIGHTS


WIND FARMING BUSINESS (INOX RENEWABLES LIMITED)

REVENUES *

EBITDA** & EBITDA MARGIN


93.6%

568.5
458.2

PAT & PAT MARGIN

84.1%

18.3%

385.4

104.0

1.5%

532.4

19 %

28 %

94 %
6.8

Q1 FY15

Q1 FY16

Q1 FY15

EBIDTA

Q1 FY16

EBIDTA %

Q1 FY15

PAT

Q1 FY16

PAT %

Fall in revenues and profits due to seasonality of wind, expected to be corrected over the year

Note: * Revenue from Operations, ** EBIDTA excluding Other Income

In Rs. Mn

12

Q1 FY16 RESULTS HIGHLIGHTS


WIND FARMING BUSINESS (INOX RENEWABLES LIMITED)

Average PLF %

Average Tariff (Rs per Unit)

24.39%
5.33

5.27

Q1 FY15

Q1 FY16

19.24%

Q1 FY15

Q1 FY16

13

Q1 FY16 RESULTS HIGHLIGHTS


FILM EXHIBITION BUSINESS (INOX LEISURE LIMITED)

REVENUES*

EBITDA ** & EBITDA MARGIN

7.2%

18.8%

3,486.8

655.7

12.6%

2,323.8

PAT & PAT MARGIN

2.0%

252.6

293.6
50 %

Q1 FY15

123 %

Q1 FY16

Q1 FY15

EBIDTA

Q1 FY16 Revenues of Rs 3,486.8 mn

Q1 FY16 EBITDA of Rs 655.7 mn


Q1 FY16 PAT of Rs 252.6 mn
Note: * Revenue from Operations, ** EBIDTA excluding Other Income

45.8

Q1 FY16

EBIDTA %

452 %

Q1 FY15

PAT

Q1 FY16

PAT %

34.3% of Full Year FY15 Revenues.

53.4% of Full Year FY15 EBITDA.


126.0% of Full Year FY15 PAT.
In Rs. Mn

14

Q1 FY16 RESULTS HIGHLIGHTS


FILM EXHIBITION BUSINESS (INOX LEISURE LIMITED)
FOOTFALLS & OCCUPANCY RATE

FOOD & BEVERAGES SPEND PER HEAD (SPH)

33%
26%
14.5

59

56

9.9
46 %

Q1 FY15
Footfalls (Mn)

5%

Q1 FY16
Occupancy (%)

Q1 FY15

Q1 FY16

SPH (Rs)

Footfalls with Management Properties Q1 FY16: 15 mn

AVERAGE TICKET PRICE (ATP)

ADVERTISING REVENUES PER OPERATING SCREEN

165
159
4%

Q1 FY15

Q1 FY16

0.51

13 %

0.58

0.47

13 %

0.41

Q1 FY15

Q1 FY16

ATP (Rs)
All the above charts exclude managed properties.

Advertising Revenues

Other Operating Revenues

15

SHAREHOLDING STRUCTURE
Share Price Performance

Market Data

1000.00

Market capitalization (Rs Mn)

800.00
600.00
400.00
200.00
0.00

As on 29.07.15 (BSE)
82,277.7

Price (Rs.)

749.0

No. of shares outstanding (Mn)

109.9

Face Value (Rs.)


52 week High-Low (Rs.)

Source: BSE

% Shareholding June 2015

Key Institutional Investors at June 2015

Public /
Others, 23.90

DII, 4.50
FII, 3.27

Source: BSE

Promoter &
Promoter
Group, 68.33

1.0
817.0 476.2
% Holding

Reliance Capital

2.53%

Reliance Life Insurance

1.31%

Fidelity Investment Management

1.13%

UTI MF

0.89%

Dimensional Fund Advisors

0.53%

Birla Sunlife AMC

0.44%

Canara Robeco MF

0.35%

Source: BSE, Bloomberg

16

FINANCIAL SUMMARY LAST 5 YEARS


STANDALONE FINANCIALS CHEMICALS BUSINESS
REVENUES *

EBITDA & EBITDA MARGIN

CAGR: 14.1 %
11,929 11,544 11,409

13,210

CAGR: 15.1 %
20.6% 26.2%

7,804

CAGR: 28.2 %

17.4%

17.0%

3,120
2,004

1,608

FY11

FY12

FY13

FY14

FY15

FY11

* Revenues excludes significant CER Income


during FY11 to FY13.

35%
28%
16%
11%
FY11
Caustic Soda
PTFE

5%

6%

14%

7%

34%

39%

10%
16%

11%
19%

15%

16%

25%

25%

19%

FY12

FY13

FY14

FY15

55%
6%
17%

FY13

1,944

21.4%

18.1%

2,823
1,416

FY14
FY15
EBITDA Margin %

FY11

LEVERAGE ANALYSIS

REVENUES BREAKUP
10%

FY12
EBITDA

PAT & PAT MARGIN

0.4

0.3

0.3

0.3

28.9%

19.8%
5.2%

6.5%

597

744

3,824

2,358

FY12
PAT

FY13

FY14
FY15
PAT Margin %

RETURN METRICS
13.4%

0.3

11.0%

38%
8.1% 8.8%

Chloromethanes
Others

21%

Refrigerants

21,418

24,953

25,247

28,556

5,831

8,512

8,664

7,049

7,169

FY11

FY12

FY13

FY14

FY15

17,472

Debt

Equity

Debt to Equity

5.3%
3.3%

FY11

FY12
ROCE %

4.7%
2.8% 2.9%
2.4%

FY13

FY14

FY15

ROE %

ROE: PAT/Avg. Equity, ROCE: EBIT/Avg. Capital Employed [(Capital Employed = Equity + Total Debt)

Note: FY15 PAT includes an exceptional item of Rs 2,790.5 mn respectively, which primarily includes Rs 3,027.2 mn gain from the Offer for Sale (sale of 10 mn Inox Wind Limited shares) by GFL as a part of Inox
Wind Limited IPO. FY15 PAT also includes the impact of higher deferred tax liability of Rs 99.0 mn due to change in depreciation policy as per new Companies Act 2013.

17

FINANCIAL SUMMARY LAST 5 YEARS


CONSOLIDATED FINANCIALS
REVENUES *

EBITDA & EBITDA MARGIN

CAGR: 38.7%

27.6%

53,408

12,280

34,515
28,302 31,664
14,439

FY11

43.4%

FY13

FY14

FY15

FY11

CAGR: 26.9%
17.3% 19.4%

32.1%

FY12

FY13

FY14

0.6

19,080
7,796
FY11

27,181
15,417

FY12
Debt

0.7

0.7

31,592

32,970

21,344

23,023

FY13
Equity

CAGR: 21.2%
17.2%
5.4%

2,714

FY11

EBITDA Margin %

11.0%
5,852

5,434

FY15

LEVERAGE ANALYSIS

27.6%
7,801

5,982

EBITDA

0.4

18.8%

10,350

10,172

3,988

FY12

PAT & PAT MARGIN

1,861
FY12
PAT

FY13

FY14

FY15

PAT Margin %

RETURN METRICS
33.7%
31.1%

0.6

42,353

15.1%
12.1%

17.7%18.5%

7.3% 5.8%

25,654

FY14
FY15
Debt to Equity

FY11

12.1% 15.5%

FY12
FY13
ROCE %

Note: FY15 PAT includes an exceptional item of Rs 2,443.3 mn respectively, which primarily includes Rs 2,685.9 mn gain from the Offer for
Sale (sale of 10 mn Inox Wind Limited shares) by GFL as a part of Inox Wind Limited IPO. FY15 PAT also includes the impact of higher deferred
tax liability of Rs 141.6 mn due to change in depreciation policy as per new Companies Act 2013.

FY14
FY15
ROE %
ROE: PAT/Avg. Equity, ROCE: EBIT/Avg. Capital Employed [(Capital
Employed = Equity + Total Debt)

18

BUSINESS STRATEGY & OUTLOOK


MINIMAL CAPEX OVER NEXT 2-3 YEARS
Major capex for expansion of PTFE capacity to 16,200 MT and corresponding increases in capacities across the entire value chain already incurred.
Ongoing capex going forward expected to be minimal to the tune of Rs 1,000 1,500 mn per year, for debottlenecking, adding higher value added products,
waste recovery and other cost optimisation schemes .

HIGHER ASSET TURNOVER WITH IMPROVED CAPACITY UTILISATION


Significant improvement in capacity utilisation, from present 60% to 100% over next 2 3 years, expected due to investments made in marketing efforts.
Subsidiaries with dedicated marketing staff operational in all major markets like US and Europe .
Company has passed the stringent customer evaluation and product acceptance process of major customers over the past 2 3 years.

IMPROVEMENT IN MARGINS
Improved capacity utilisation will result in higher margins due to economies of scale and operating leverage.
Increased contribution due to churning of product mix in favour of higher value added grades of PTFE.
Introduction of new value added products in the companys product basket will further improve margin profile.
Focus on waste recovery and other cost optimisation schemes to bring down costs across the value chain.

FOCUS ON FLUORO SPECIALTY CHEMICALS


Focus on HF and TFE based fluoro speciality chemicals to cater to the pharma and agro chemical industries.
Partnerships with several MNCs in these segments who need access to fluoro speciality expertise and capabilities.
Surplus TFE capacity from recent debottlenecking to add significant value to the fluoro speciality business.

19

ANNEXURE

20

DETAILED FINANCIALS
STANDALONE P&L STATEMENT
Particulars (In Rs Mn)

Q1 FY16

Q1 FY15

YoY %

Q4 FY15

QoQ %

FY15

FY14

YoY %

Revenues from Operations

3,527.2

2,836.3

24.4%

3,474.5

1.5%

13,209.7

11,409.4

15.8%

COGS

1,172.5

751.7

56.0%

1,078.1

8.8%

3,647.5

3,628.2

0.5%

Employee Expenses

266.7

229.2

16.4%

229.0

16.5%

961.6

806.9

19.2%

Power & Fuel

768.5

843.3

-8.9%

826.5

-7.0%

3,441.5

2,992.1

15.0%

Foreign Exchange Fluctuation (gain)/loss (net)

-29.9

-4.9

510.2%

-6.3

374.6%

-42.1

-46.4

-9.3%

Other Expenses

567.4

527.4

7.6%

670.6

-15.4%

2,377.9

2,084.5

14.1%

EBITDA

782.0

489.6

59.7%

676.6

15.6%

2,823.3

1,944.1

45.2%

EBITDA Margin (%)

22.2%

17.3%

491 bps

19.5%

270 bps

21.4%

17.0%

433 bps

Depreciation and amortization expense

343.6

270.5

27.0%

338.2

1.6%

1,238.5

1,017.0

21.8%

Other Income

92.4

201.1

-54.1%

106.9

-13.6%

519.8

604.2

-14.0%

Finance costs

133.9

127.5

5.0%

132.9

0.8%

519.8

552.8

-6.0%

-58.0

-100.0%

2,937.0

2,790.5

PBT

360.4

234.7

53.6%

3,249.4

-88.9%

4,375.3

978.5

347.1%

Tax Expense

126.1

65.5

92.5%

248.1

-49.2%

551.8

234.2

135.6%

Tax Rate

31.8%

27.9%

386 bps

7.6%

2414 bps

12.6%

23.9%

-1132 bps

PAT

270.8

169.2

60.0%

3,001.3

-91.0%

3,823.5

744.3

413.7%

PAT Margin (%)

7.7%

6.0%

171 bps

86.4%

-7870 bps

28.9%

6.5%

2242 bps

EPS

2.46

1.54

59.7%

27.32

-91.0%

34.81

6.78

413.4%

Exceptional Items

21

DETAILED FINANCIALS
STANDALONE BALANCE SHEET
Particulars (In Rs Mn)

FY15

FY14

Share Holders Funds:

Particulars (In Rs Mn)

FY15

FY14

Fixed Assets (Incl. CWIP)

21,031.0

20,563.5

Non-Current Investments

4,204.7

2,541.8

Long-Term Loans and Advances

3,776.5

4,127.8

Other Non-Current Assets

0.2

0.1

Total Non-Current Assets

29,012.4

27,233.2

126.6

2,096.3

Inventories

3,671.3

3,169.5

Trade Receivables

3,854.2

3,167.2

Cash and Bank Balances

3,463.7

84.8

537.8

558.2

Other Current Assets

32.1

219.6

Total Current Assets

11,685.7

9,295.6

Total Assets

40,698.1

36,528.8

Non-Current Assets:
109.9

109.9

Reserves and Surplus

28,446.0

25,137.1

Total of Shareholder Funds

28,555.9

25,247.0

Long Term Borrowings

2,380.0

2,931.0

Deferred Tax Liabilities (Net)

2,655.1

2,019.9

Other Long Term Liabilities

18.9

23.6

Current Assets:

Long Term Provisions

91.4

74.2

Current Investments

5,145.4

5,048.7

Short-Term Borrowings

4,183.2

3,520.2

Trade Payables

1,065.4

1,201.9

Other Current Liabilities

1,231.3

1,009.5

516.9

501.5

6,996.8

6,233.1

40,698.1

36,528.8

Equity Share Capital

Non-Current Liabilities:

Total of Non-Current Liabilities


Current Liabilities:

Short-Term Provisions
Total of Current Liabilities
Total Equity & Liabilities

Short-Term Loans and Advances

22

DETAILED FINANCIALS
CONSOLIDATED P&L STATEMENT
Particulars (In Rs Mn)
Q1 FY16
Total Income from Operations
14,127.6
COGS
5,552.1
Employee Expenses
659.8
Power & Fuel
992.8
Erection, Procurement & Commissioning Cost
763.9
Exhibition Cost
852.1
Foreign Exchange Fluctuation (gain)/loss (net)
48.2
Other Expenses
2,562.1
Expenditure Capitalized
EBITDA
2,696.6
EBITDA Margin (%)
19.1%
Depreciation and amortization expense
766.0
Other Income
142.6
Finance costs
566.8
Exceptional Items
PBT
1,506.4
Tax Expense
457.0
Tax Rate
30.3%
PAT
1,049.4
Share of profit of associate
Share of Minority in (profit)/loss
-311.2
PAT after taxes, minority interest and share of profit of associate
738.2
PAT Margin (%)
5.2%
EPS
6.72

Q1 FY15
8,907.1
3,137.6
502.1
1,027.6
133.7
584.0
-50.6
1,839.0
1,733.7
19.5%
607.3
168.1
507.1
-63.0
724.4
208.9
28.8%
515.5
-74.0
441.5
5.0%
4.02

YoY %
Q4 FY15
QoQ %
58.6% 15,532.0
-9.0%
77.0%
6,535.4
-15.0%
31.4%
578.7
14.0%
-3.4%
987.9
0.5%
471.4%
2,014.1
-62.1%
45.9%
477.4
78.5%
-195.3%
-261.0
-118.5%
39.3%
2,393.2
7.1%
55.5%
2,806.3
-3.9%
-38 bps
18.1%
102 bps
26.1%
874.4
-12.4%
-15.2%
87.7
62.6%
11.8%
560.8
1.1%
2,594.8
108.0%
4,053.6
-62.8%
118.8%
489.5
-6.6%
150 bps
12.1% 1826 bps
103.6%
3,564.1
-70.6%
320.5%
-287.3
8.3%
67.2%
3,276.8
-77.5%
27 bps
21.1% -1587 bps
67.2%
29.83
-77.5%

FY15
53,408.1
21,825.0
2,254.1
4,187.4
3,728.9
2,493.2
-346.9
8,916.3
10,350.1
19.4%
2,847.5
498.1
2,187.7
2,443.3
8,256.3
1,585.3
19.2%
6,671.0
-818.6
5,852.4
11.0%
53.28

FY14
34,515.4
13,732.0
1,697.3
3,546.9
2,803.5
1,937.4
147.3
6,634.2
-1,964.7
5,981.5
17.3%
2,004.4
454.1
1,789.2
2,642.0
376.4
14.2%
2,265.6
41.1
-445.7
1,861.0
5.4%
16.94

YoY %
54.7%
58.9%
32.8%
18.1%
33.0%
28.7%
-335.5%
34.4%
73.0%
205 bps
42.1%
9.7%
22.3%
212.5%
321.2%
495 bps
194.4%
-100.0%
83.7%
214.5%
557 bps
214.5%

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DETAILED FINANCIALS
CONSOLIDATED BALANCE SHEET
Particulars (In Rs Mn)

FY15

FY14

Share Holders Funds:

Particulars (In Rs Mn)


Goodwill on Consolidation

FY15

FY14

1,650.8

573.9

109.9

109.9

Reserves and Surplus

42,242.7

32,859.9

Fixed Assets (Incl. CWIP)

44,690.2

44,338.0

Total of Shareholder Funds

42,352.6

32,969.8

Non-Current Investments

1,365.1

792.7

8,492.5

2,616.2

Long-Term Loans and Advances

5,409.9

3,935.0

223.9

162.7

Long Term Borrowings

11,367.6

12,472.5

86.3

124.8

3,152.2

2,523.7

Other Non-Current Assets

Deferred Tax Liabilities


Other Long Term Liabilities

349.1

532.6

Total Non-Current Assets

53,426.2

49,927.1

Long Term Provisions

179.5

130.4

15,048.4

15,659.2

226.8

2,901.9

8,704.0

6,294.8

Equity Share Capital

Minority Interest
Non-Current Liabilities:

Total of Non-Current Liabilities

Non-Current Assets:

Deferred Tax Asset

Current Assets:
Current Investments
Inventories

Current Liabilities:
12,201.7

8,122.1

Trade Receivables

18,635.2

9,496.8

Trade Payables

9,214.4

6,294.4

Cash and Bank Balances

11,172.8

527.4

Other Current Liabilities

5,338.3

4,567.0

Short-Term Loans and Advances

1,533.0

1,458.5

Short-Term Provisions

1,210.7

750.8

Other Current Assets

160.6

373.0

Total of Current Liabilities

27,965.1

19,734.3

Total Current Assets

40,432.4

21,052.4

Total Equity & Liabilities

93,858.6

70,979.5

Total Assets

93,858.6

70,979.5

Short-Term Borrowings

24

GROUP OVERVIEW
STRONG PEDIGREE

Strong legacy of more than 80 years.


Diversified businesses across industrial gases, engineering plastics, refrigerants, chemicals, cryogenic engineering, renewable energy and entertainment sectors.
More than 8,000 employees at more than 100 business units across India.
Distribution network spread across more than 50 countries around the world.

Listed Companies

Other Key Companies

Gujarat Fluorochemicals
Limited

Inox Wind Limited

Inox Leisure
Limited

Inox Air Products


Limited

Inox India
Limited

Mcap: Rs 82.3 bn

Mcap: Rs 91.7 bn

Mcap: Rs 22.4 bn

50:50 joint venture with Air


Products Inc., USA

Indias largest manufacturer


of cryogenic liquid storage
and transport tanks in India

Largest producer (by


volume) of chloromethanes
refrigerants and
Polytetrafluoro-ethylene in
India
Pioneers of carbon credits in
India

Fully integrated player in the


wind energy market

Indias second largest multiplex


chain.

State-of-the-art manufacturing
plants near Ahmedabad
(Gujarat) and at Una (Himachal
Pradesh) and upcoming new
facility in MP.

In the business of setting up,


operating and managing a
national chain of multiplexes
under the brand name INOX

Ability to provide End to End


Turnkey Solutions for Wind
Farms

Present in 52 cities in 17
states with 97 multiplexes and
377 screens

Indias largest manufacturer


of industrial gases in India
36 plants spread throughout
the country

Offers comprehensive
solutions in cryogenic
storage, vaporization and
distribution engineering

Inox Renewables
Limited
Engaged in the business of
operating of wind farms

213 MW operational
capacity in 3 different states
with another 20 MW ready
for commissioning.

Has operations in India, USA,


Canada, The Netherlands
and Brazil

STRONG SPONSORSHIP OF INOX GROUP - RECOGNIZED AND TRUSTED CORPORATE GROUP

25

FOR FURTHER QUERIES:

THANK YOU

Deepak Asher
Director and Group Head (Corporate Finance)
Email : deepakasher@gfl.co.in

Ammeet Sabarwal / Nilesh Dalvi


Dickenson Seagull IR
Contact No : +91 9819576873 / +91 9819289131
Email : ammeet.sabarwal@dickensonir.com
nilesh.dalvi@dickensonir.com

26