- ~ ISGEC I SGEC HEAVY ENGINEERING LTD. ~ A-4, Sector-24, Naida - 201 301 (U.P.) (GST No.: 09AAACT5540K2Z4) Uploacled on BSE Limited Tel.: +91-120-4085000/01 /02 Website: http: 1/listing.bseindia.com Fax: +91-120-4085100 www.isgec.com Ho-425-S Dated: 25.02.2020

Manager - Department of Corporate Services. Bombay Stock Exchange Ltd., Registered Office: Floor 25. P J Towers, Dalal Street, 400 00 I

Dear Sir/Madam,

Furnishing of Information as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Scrip Code : 533033, Scrip Id: ISGEC

Sub: Investor Presentation on the Unaudited Financial Results for the quarter ended on December 31, 2019.

I. This is further to our letter bearing Ref no.Ho-425-S dated February 20. 2020, wherein we had given an advance intimation of the upcoming In vestor Conferent e Call organised by the Company on February 26. 2020 at 12:00 hours (1ST) to discuss the financia l performance of the quarter ended December 31. 2019.

2. In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith a copy of In vestor Presentation of the Company on the Unaudited Financial Results for the quarter ended December 31, 20 I 9, which wou ld be shared with the Investors.

3. This Investor Presentation is also available on the website of the Company'""" .isgec.com.

4. The above is for your information and records, please.

Thanking you,

Yours faithfully, For Isgec Heavy Engineering Limited

L.J .K. Khorana) Executive Di~ft;r & Company Secretary }},,,- Encl: as above

Regd. Office: Radaur Road, Yamunanagar 135 001 () India GIN: L23423HR1933PLC000097 Investor Presentation

03 February 2020 1 Safe Harbour

This presentation and the accompanying slides (the “Presentation”), which have been prepared by ISGEC Heavy Engineering 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 contractor 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. This presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company.

03 February 2020 Investor Presentation2 2 Agenda

1 Isgec Overview

2 Business Capability

3 Business Transformation and Strategy

4 Financial Performance

5 Giving Back To Society

6 Key Investment Highlights

03 February 2020 Investor Presentation3 3 Agenda

1 Isgec Overview

2 Business Capability

3 Business Transformation and Strategy

4 Financial Performance

5 Giving Back To Society

6 Key Investment Highlights

03 February 2020 Investor Presentation4 4 Isgec at a glance

A Diversified Heavy Engineering Company engaged in Manufacturing and Project Businesses. Manufacturing of Presses, Castings and Process Equipment. Turnkey Projects for setting up Boilers, FGD’s, Sugar Plants, Distilleries, Power Plants and Bulk Material Handling facilities.

Revenue EBITDA ₹ 50,507 mn ₹ 2,662 mn

EPS Order Book** ₹ 19.4 ₹ 61,844 mn

Net Worth PAT ₹ 15,868 mn ₹ 1,440 mn

Figures as per FY19 consolidated financials **Standalone as on 31 Dec 2019

03 February 2020 Investor Presentation5 5 Isgec at a glance

Diversified Heavy Engineering Company Robust Balance Sheet Mix of Manufacturing and Project Businesses Net Worth of INR 15,868 Mn Mix of Domestic & Export Revenues No pledged shareholding Wide Spectrum of User Segment Strong Credit Rating - ICRA Credit Rating of AA (Stable)

Strong Labour Force Highly Experienced Management 4125 Employees across 6 locations in India and 75+ years of providing engineering solutions to customers Canada globally. 900 qualified engineers Global reach Trusted Partner Presence across 91 countries across 6 continents Technology tie-ups and JVs with leading global firms

03 February 2020 Investor Presentation6 6 Our Journey

What started off in 1933 as a Sugar Manufacturing Company has been transformed into a Diversified Heavy Engineering Company with 89% of our Consolidated Revenues coming from Engineering Products and Projects

1933-1990 1991-2010 2011-2015 2016-2019

Company (erstwhile named as Design office starts at . JV with Hitachi Zosen Company acquired 100% stake in 1933 Saraswati Sugar Syndicate Ltd) was 2007 2012 Corporation, Japan for 2018 Eagle Press & Equipment Co. Ltd., Company turnover crosses Established manufacturing specialized and a Press manufacturing company INR 1000 Cr. critical process equipment in Canada. Indian Sugar & General Engineering (51% share with Isgec). Company Company is listed in Group B of the 1946 Corporation (Isgec Heavy Engineering turnover crosses Company turnover crosses 2008 Bombay Stock Exchange. Limited) established to address the INR 3000 Cr. 2019 INR 5000 Cr. need for Indian Capital Goods New plant at Dahej, set up Industry. to manufacture heavier and bigger process plant equipment for the JVs with Sumitomo SHI FW The Saraswati Sugar amalgamated overseas market. 2015 Energia, Oy , USA; TITAN Metal 1963 with Isgec. Fabricators, USA and Redecam, New factory for Standard Presses is Italy Isgec John Thompson Ltd. (IJT) 2009 set up at Bawal, near Gurgaon 1965 is formed for designing, (Haryana) India. Company supplying, erecting and Turnover crosses INR 2000 Cr. providing after sales service of boilers. 2010 Design office starts at . 1967 Presses Division formed. Isgec John Thompson Ltd (IJT) 1973 amalgamated with Isgec

Company acquires a Castings 1981 Unit

03 February 2020 Investor Presentation7 7 Global Footprint - Presence across 91 countries

46,296 50,507 40,559 40,282 38,259 23% Exports constitute one-fourth Geographical 31% Global 31% 25% of Isgec Revenue Mix (Revenue) 43% India 69% 77% (INR Mn) 57% 69% 75%

FY15 FY16 FY17 FY18 FY19

• Projects/Customers

03 FebruaryNote: 2020 Consolidated Revenue Investor Presentation8 8 State-of-the-art Infra & Manufacturing Capability

Yamunanagar, Haryana Pressure Vessels & Heat exchangers, Presses, Boilers, Containers, Castings, Sugar and other Industrial Machinery

Rattangarh, Haryana Boiler Components

Bawal, Haryana Mechanical Presses and other Industrial Overseas facility Machinery

Dahej, Gujarat Reactor Pressure Vessels, Columns, Heat Exchangers

Muzaffarnagar, UP Castings Windsor, Canada Presses

03 February 2020 Investor Presentation9 9 Our Shareholders

Share Information as on 31st December 2019

Promoter BSE Ticker 533033

25.4% Market Cap (INR Mn) 27,007*

Institution % Free- float 38% Free Float Market Cap (INR Mn) 10,283* 1.9% Shares Outstanding (Mn) 73.5 62.3% FIIs 10.5% 3M ADTV (Shares) 11,673

3M ADTV (INR Mn) 4.3 Non-Institutional Industry Industrial Machinery

As on 31st Dec, 2019 No promotor pledged shareholding

03 February*As on 2020 19th February 2020 Investor10 Presentation 10 Our Team

Our Team Board of Directors

Mr. S.K. Khorana Executive Director & Company Secretary Mr. Ranjit Puri Non-Executive Chairman & Promoter

Mr. Ravi Jaidka Executive Director Mr. Aditya Puri Managing Director & Promoter Mr. Kishore Chatnani Chief Financial Officer Mrs. Nina Puri Whole-time Director & Promoter

Mr. Sanjay Gulati Managing Director Isgec Hitachi Zosen Ltd. 7 Non-Executive Independent Directors

Mr. Vivek Nigam Business Head Machine Building Division Mr. Vinod K. Nagpal

Mr. Sanjay Choudhary Business Head Process Equipment Division Mr. Tahir Hasan

EPC Division (Power Plants, Material Mr. Vinod Kumar Sachdeva Mr. PVN Sanjay Business Head Handling, Factories Construction) Mr. Arun Kathpalia Mr. V K Luthra Business Head Boiler Division Mr. Sidharth Prasad Mr. Suman Jain Business Head FGD and Air Pollution Control Division Mr. Vishal Kirti Keshav Marwaha Sugar Machinery and Distilleries Mr. Sanjay Awasthi Business Head Division Mrs. Shivani Hazari

Mr. Yogesh Marwaha Head International Marketing

03 February 2020 Investor11 Presentation 11 Agenda

1 Isgec Overview

2 Business Capability

3 Business Transformation and Strategy

4 Financial Performance

5 Giving Back To Society

6 Key Investment Highlights

Key Investment Highlights

03 February 2020 Investor12 Presentation 12 Building Strength with Acquisitions and JVs

Saraswati Sugar Mills Ltd. Eagle Press & Equipment Co. Ltd. With cane crushing capacity of ~ 10000 Press manufacturing company in TCD, having highest sugar recovery in 100% Windsor (Ontario) Canada Punjab and Haryana for the past 10 years

51%

Isgec Hitachi Zosen Ltd. Isgec Titan Metal Fabricators Pvt. Ltd. Isgec SFW Boilers Pvt. Ltd. Isgec Redecam Enviro Solutions Pvt. Ltd. JV with Hitachi Zosen Corp., JV with Titan Metal Fabricators, JV with Amec Foster Wheeler (now JV with Redecam, Italy for Japan to manufacture USA for manufacture of corrosion- Sumitomo SHI FW Energia, Oy) for manufacture, testing, commissioning of specialized & critical Process resistant metals & alloys process engineering their Global Boiler Bag Filters Equipment equipment Projects

03 February 2020 Investor13 Presentation 13 Engineering for Excellence - Our Business Segments

Isgec is a significant global player across all business areas in Manufacturing and EPC

Manufacturing Engineering & Projects

Process Equipment Sugar Plants & Distilleries

Iron & Steel Castings Air Pollution Control Equipment

Boiler Tubes & Panels Industrial Boilers

Presses Power Projects

Contract Manufacturing Bulk Material Handling

Liquefiable Gas Containers Buildings & Factories

Industrial Waste Water Treatment

03 February 2020 Investor14 Presentation 14 Catering to Wide Spectrum of Industries

Railways Power Fertilizer Cement Mines

Ports Oil & Gas Steel Chemical Space

Automobiles Defence Sugar

03 February 2020 Investor15 Presentation 15 Serving Global and Domestic Clients

03 February 2020 Investor16 Presentation 16 Technology Infusion across the Years

1964 1985 1998 2006 2009 2010 2012 2016 2016 2017

AP&T John Thompson, UK Hot Stamping Boilers HITZ presses Critical Process Rovetta Presse, Italy Equipment Fuel Tech, USA Babcock Power USA Mechanical Presses NOx solutions Wet FGDs Foster Wheeler North America Heat Corporation (Now BHI FW Transfer Technology, The Riley Power USA Corporation,USA) Process Fired Heaters Pulverised coal fired Boilers Netherlands HRSGs

Foster Wheeler, USA, (Now Envirotherm, Germany Tei USA Sumitomo SHI FW Energia, Oy) ESPs Fired Heaters, CFB Boilers Waste Heat Boilers, HP Heat Exchangers ABB Lummus Heat Transfer Helixchangers

03 February 2020 Investor17 Presentation 17 Achieving Operational Capability

Manufacturing and Maintenance facilities for Indian Railways

Presses Industrial Boilers Liquefiable Gas 5000+ PRESSES 800+ High Capacity and High Containers 26 COUNTRIES Pressure Boiler installations in 3,00,000+ Containers in 48 countries 70+ PRESS LINES 60+ Countries Largest producer of containers in the world Flue Gas Desulphurisation Projects

Material Handling Sugar Plants & Distilleries Solutions 175+ Projects Power Projects 16 km of cross country pipe 700+ cane crushing mills conveyor 49 countries Leader in power plants of Air Pollution Control up to 100MW Upto 10 MMTPA Bulk Port Experience of running Equipments (ESP, SCR facility own sugar mill and Bag Filters)

03 February 2020 Investor18 Presentation 18 Standing Strong with Global Quality Benchmarks

Conformitè Europëenne Quality Management System–Approved by Lloyds Register of Quality Assurance

Environment Management Occupational Health & Safety Management System-Approved by DNV GL System Business Assurance

National Board, USA, 'R’ Symbol, ‘NB’ Mark 'S' 'U' 'U-2' & 'U-3' Stamps 'N' and 'NPT' Stamps Approval for Liquefiable Class I fabricator of Fusion Gas Containers Welded Pressure Approved Foundry from Lloyd’s Register of Shipping China Safety and Quality License

03 February 2020 Investor19 Presentation 19 Agenda

1 Isgec Overview

2 Business Capability

3 Business Transformation and Strategy

4 Financial Performance

5 ShareholdingGiving Back To Society

6 GivingKey Investment Back To Society Highlights

03 February 2020 Investor20 Presentation 20 Positioned No.1 / No. 2 in most Business Lines

Market Leadership

Hydraulic & Mechanical Presses Process Equipment

Sugar Plants Slop Fired Boilers

CFB Boilers Oil & Gas Boilers

Traveling Grate Boilers Bubbling Bed Boilers

Liquefiable Gas Containers Made to order large steel castings

03 February 2020 Investor21 Presentation 21 Agenda

1 ISGECIsgec OverviewOverview

2 BusinessBusiness Capability Capability

3 BusinessBusiness Transformation Transformation and and Strategy Strategy

4 FinancialFinancial Performance Performance

5 ShareholdingGiving Back To Society

6 GivingKey Investment Back To Society Highlights

Key Investment Highlights

03 February 2020 Investor22 Presentation 22 Financial Performance- Consolidated

In INR Mn Revenue EBITDA PAT

3,917 2,483 50,507 3,364 46,296 2,967 40,282 40,559 1,905 38,259 2,574 2,662 1,684 1,440 1,233

FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19

Segmental Revenue – Quarterly Trend (Consolidated) Sugar EPC 1,611 Rankings Manufacturing 1,431 1,363 1,178 1,533 1,214 10,311 ET 500 279 (2019) 1,256 11,299 8,571 9,585 Fortune India 500 259 (2019) 8,396 4,414 8,095 Business Today 500 397 (2019) 5,585 4,122 4,638 4,044 4,068 2,720 2,957

Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20

03 FebruaryNote: 2020 Figures as per IND AS from FY16 onwards Investor23 Presentation 23 Strong Balance Sheet

Consolidated Total Debt/Equity Consolidated Interest Coverage Ratio Consolidated Turnover Ratio

8.3 0.6 7.8 7.8 0.6 13.6 6.9 10.9 6.4 10.0 5.2 4.9 8.0 4.7 4.1 4.0 0.3 6.3 0.2 0.1

FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19

* Total Debt includes all interest bearing liabilities. Fixed assets Inventory Interest coverage ratio= EBIT/Interest Fixed asset turnover= Operating Revenue/Average fixed assets, Inventory turnover= Operating Revenue/Average Inventory

03 FebruaryNote: 2020 Figures as per IND AS from FY16 onwards Investor24 Presentation 24 Consolidated Q3FY20 Performance

In INR Mn Revenue EBITDA PAT

638 16,854 958 14,305 13,707 784 453

Q3FY20 321 477

Q3FY19 Q2FY20 Q3FY20 Q3FY19 Q2FY20 Q3FY20 Q3FY19 Q2FY20 Q3FY20

1,374 43,104 2,458

34,615 1,892 1,053 9MFY20

9MFY19 9MFY20 9MFY19 9MFY20 9MFY19 9MFY20

03 February 2020 Investor25 Presentation 25 Agenda

1 IsgecIsgecOverviewOverview

2 BusinessBusiness Capability Capability

3 BusinessBusiness Transformation Transformation and and Strategy Strategy

4 FinancialFinancial PerformancePerformance Performance

5 ShareholdingGiving Back To Society

6 GivingKey Investment Back To Society Highlights

AwardsKey Investment and Recognition Highlights

03 February 2020 Investor26 Presentation 26 Giving Back To Society: A Few of the Activities Undertaken

Remedial Classes for 250 Less Privileged Children at Nai Disha Educational & Cultural Society, an NGO (Stationary / Bags / Shoes / Sweaters / Mid Day Meals / Water / Dental Kits / Health Camp / etc) Solar Energy Systems for Rural / Semi Urban Govt. Schools

Rain Water Harvesting Systems for Rural / Semi Urban Govt. Schools

Recharging of Aquifers through Village Ponds Fans, Green Boards, Furniture, etc to School Apprenticeship for Training & Skill Development

03 February 2020 27 Agenda

1 IsgecIsgecOverviewOverview

2 BusinessBusiness Capability Capability

3 BusinessBusiness Transformation Transformation and and Strategy Strategy

4 FinancialFinancial PerformancePerformance Performance

5 ShareholdingGiving Back To Society

6 GivingKey Investment Back To Society Highlights

AwardsKey Investment and Recognition Highlights

03 February 2020 Investor28 Presentation 28 Key Investment Highlights

Presence in Stability – Leadership Continued focus Geographically Constant Multiple Core Ability to position in on niche diversified Forays into Sectors- Survive Down most technologies portfolio Futuristic Spreading cycles businesses mitigating Business Lines Market Risk concentration risk

03 February 2020 Investor29 Presentation 29 THANK YOU

ISGEC HEAVY ENGINEERING LIMITED, INDIA [email protected] | www.isgec.com Registered Office Radaur Road, Yamunanagar - 135001, Haryana, India CIN No.: L23423HR1933PLC000097

03 February 2020 30