A legacy of excellence A future of opportunities

Murugappa Group Disclaimer

Certain statements made in this presentation may not be based on historical information or facts and may be “forward looking statements,” including those relating to general plans and strategy of and Group Companies, future outlook and growth prospects, and future developments in and competitive and regulatory environment. Actual results may differ materially from these forward‐looking statements due to a number of factors, including future changes or developments in Murugappa Group’s Businesses, competitive environment, ability to implement strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in .

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The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation. Murugappa Group assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. Murugappa Group may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. This presentation may not be copied and disseminated in any manner.

THE INFORMATION PRESENTED HERE IS NOT AN OFFER OR SOLICITATION OF ANY OFFER TO PURCHASE OR SELL ANY EQUITY SHARES OR ANY OTHER SECURITY OF MURUGAPPA GROUP COMPANIES. 2 Table Of Contents

1 Group Overview 4

2 Company Highlights 23 Limited 26 EID – Parry (India) Limited 30 Tube Investments of India Limited 35 Limited 39 Diversified Businesses 43 Cholamandalam Investment and Finance Company Limited 45 Cholamandalam MS General Insurance Company Limited 50

3 Research and Development 55

4 Corporate Social Responsibility 59

3 Section 01

Group Overview

4 Murugappa Group in a Nutshell

38,105 66,310 120 (Financial Year 2019-20) (As of 31st July 2020) Consolidated Group Market Years Turnover (Rs. Crs.) (USD 5.3 Bn) Cap. (Rs. Crs.) (USD 9.1 Bn)

3 28 9 Sectors Businesses Listed Companies

19 Manufacturing 90+ 51,000 Locations Work-force (Nos.) Countries (incl. overseas)

5 GroupGroup companies Companies

Listed Listed Listed Listed

Unlisted

Unlisted

6 Other Group Companies & JVs

Volzhsky Abrasive Works

7 The Philosophy We Cherish

8 Genesis And Early Years Of Growth

1900 - A. M. Murugappa Chettiar lays the foundation of the Group by 1915 establishing a money–lending and banking business with Ramanathan Chettiar under the name A.M.M. Rm. Firm.

1915 - The Company diversifies into textiles, rubber plantation, insurance 1934 and stock broking. Expands businesses to Malaya, Vietnam and Ceylon.

1935 - Just before the Japanese invasion of Burma in World War II, the 1949 Company strategically moves its assets back to India. Invests in steel furniture and emery paper.

1950 - New companies TI of India and CUMI are established. Company 1980 enters the sector with Cholamandalam Investment & Finance Co.

9 Decades Of Growth

1981 - New acquisitions take place demonstrating that Company’s capability 1990 to turn around businesses. Existing Companies and new acquisitions are consolidated and the Murugappa Group is formed.

1991- The Group is restructured where core businesses are streamlined and 2000 portfolios are realigned. It takes on an aggressive growth path while driving into the domestic market.

2000 The Group continues to increase its global presence through joint – ONWARDS ventures with leading international firms. Its domestic capacity is on the rise through new product launches, newer acquisitions and Green – field projects. The future holds the promise of significant opportunities, challenges, achievements and growth. And the Murugappa Group is poised to embrace it all with the zeal and positive energy that has come to be synonymous with the Group.

10 Evolution Of The Group

(1934–1949) Shifted base to (1900–1915) India, Invested in Started a money Steel, Furniture and (1950–1980) lending and banking Emery Started TII and CUMI business Paper in Burma,

(1915–1934) Diversified into Textiles, Rubber, Plantations, Insurance and Stock (2005-07) Broking, Expanded Acquisition of Strategic stake in business into Malaysia TIFERT, Tunisia; Business Agreement and Ceylon with Foskor by Coromandel; Acquisition of VAW, Russia by CUMI

(2009) Formation of Diversified Business Group (DBG) Acquisition of Sadashiva Sugar (1953) Plant by EID (2003) (1981–1990) Founded Acquired Godavari Formation of the the AMM Fertilizers Murugappa Group, Charities Acquisition and Trust turnaround of companies

(2010-11) Acquisition of GMR Industries by EID in AP and KN, SEDIS by TII (71% stake), Sabero by CIL 11 (2012) Acquisition of (2013) Shanthi Gears by Acquisition of Liberty TII (70% stake) Phosphates

(2014-15) (2014) (2013) Liberty Phosphates and JV formed between TII Tsubamex JV Sabero merged with Coromandel, TII and Yanmar pact (75% stake) Coromandel for farm equipment

(2018) 80% stake in Creative (2018) Cycles (Private) Limited Coromandel International (2012) and Great Cycles (Private) acquired the Bio-Products (2018) Acquired 49% stake from Cargill making Silk Limited of Sri Lanka Division of EID Parry EID Parry - JV road sugar a 100% subsidiary of EID Parry; with Synthite Renamed as ‘Parry Sugar Refinery’

12 SBUs & Products Products & SBU’s

Precision Tubes Tea & Steel Strips

Rubber Crop Protection Chemicals Home Furnishing

Automotive & Bio Pesticides Industrial Chains Textiles Home Loan

Nets & Packaging Products

Travel Services

Door Frame & Fine Blanking Construction

Agri Retail 13 Water Treatment Manufacturing Locations

State No. of Plants Companies (No. of Units) 1 35 EID (7) CUMI (7) TII (7) Parry Agro (7) Coromandel (4) MMTCL (1) SGL (1) New Ambadi (1) 3 Gujarat 8 Coromandel (4) CUMI (1) TII (1) 3 MMTCL (1) PEIL (1) 2 5 Coromandel (3) EID (1) PSRIL (1) 2 2 Telengana 1 TII (1) 2 Maharashtra 5 EID (2) TII (2) Coromandel (1) 4 EID (2) Coromandel (1) Ambadi (1) 8 2 1 Kerala 4 CUMI (3) Ambadi (1) Uttarakhand 3 TII (2) CUMI (1) Punjab 3 TII (3) 5 Assam 2 Parry Agro (2) Rajasthan 2 Coromandel (2) 1 Uttar Pradesh 2 Coromandel (1) Ambadi (1) Haryana 2 TII (1) Ambadi (1) 4 5 Madhya Pradesh 2 Coromandel (1) CUMI (1) West Bengal 1 CUMI (1) Jammu 1 Coromandel (1) 35 4

80 manufacturing locations across 16 states in India 14 Overseas Manufacturing Presence

USA Russia Nutraceuticals France Electro Minerals, Industrial Chains Abrasives Tunisia Phosphoric Acid* Thailand Abrasives Sri Lanka (2) Bicycles Australia Chile South Africa (2) Industrial Ceramics Nutraceuticals Electro Minerals, Phosphoric Acid*

11 manufacturing locations

* Manufacturing location of Associate Company 15 Overseas Marketing Presence

USA (3) Netherlands Coromandel, TII, UK Coromandel CUMI China (3) Parry Murray Coromandel, TII, CUMI Mali Coromandel Philippines Mexico Coromandel Coromandel Argentina UAE (2) Coromandel CUMI, Sugar Refinery Brazil (2) Nigeria Coromandel Coromandel

17 marketing/ distribution bases 16 Customer Points of Engagement

17 Setting Standards In Our Fields

Metallised Cylinders – Technical Ceramics 2 Global Market Share

Silicon Carbide Electro Minerals 1 Russia Production Capacity

Cold Drawn Transmission Abrasives Electro Bicycles 1 Welded Steel 1 1 Minerals 1 Chains 2 Pan India Market Share Market Share Tubes Market Share Market Share Market Share

Phosphatic Sugar Fertilisers Regional 1 1 Retail Market Share Market Share TN, KN, AP AP & Telengana 18 Net Sales – Murugappa Group

Rs. Crores CAGR 8%

38,105 36,890 33,079 31% 28,759 29,206 34% CAGR 19% 26,252 29% 24% 27% 21% 24% 21% CAGR 3% 24% 23% 24% 26%

53% 49% 47% 45% 45% CAGR 4% 53%

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

Agriculture Financial Services 19 EBITDA – Murugappa Group

Rs. Crores

14.0% 14.0% 14.0% 14.0%

CAGR 13% 11.0% 10.4% 5,347 5,152 4,618 4,075 37% CAGR 17% 42% 39% 2,889 3,000 36% 24% CAGR 11% 31% 38% 24% 23% 25% 26% 27% 39% 40% 38% 33% CAGR 11% 43% 35%

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 Agriculture Engineering Financial Services EBITDA % 20 Profit After Tax – Murugappa Group CAGR 18%

Rs. Crores 7.5% 7.8% 7.7% 7.4% 2,866 2,946 6.5% 2,432 2,200 41% CAGR 16% 48% 4.9% 1,865 48% 42% 39% 1,299 24% CAGR 20% 24% 46% 23% 22% 49% 23% 35% CAGR 21% 35% 30% 28% 31% 12%

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 Agriculture Engineering Financial Services PAT % Note 1: Financial Services PAT is after: a) In CIFCL, additional provision to cover contingencies due to COVID-19 and Macro economic downturn, PAT impact Rs 335 Cr in FY 20 b) In Chola MS against bond impairment and reversal of interest , PAT impact Rs 208 Cr in FY 20 and Rs 33 Cr in FY 19 Note 2: FY 16 PAT of Engineering includes Rs. 550 Crs from part stake sale of Insurance business 21 Group Market Capitalisation

Rs. 66,310 Crs Rs. 15,411 Bn. Market Cap Nifty Mid Cap

Rs. 20,157 Crs Rs. 11,982 Bn. CAGR: 23% Market Cap Nifty Mid Cap

Indexed CAGR: 6% (Apr’14 to Jul’20)

Murugappa Group NIFTY Mid Cap Note: Listed companies of the Murugappa Group 22 Section Company Highlights 02

A portfolio of progress built through organic and inorganic growth

23 01 Agriculture

02 Engineering

03 Financial Services

24 01 Agriculture

02 Engineering

03 Financial Services

25 Coromandel International Ltd.

Partnerships 2nd largest Revenue Market Cap Manufacturing phosphatic Locations Rs. 13,091 Cr. Rs. 16,001 Cr. player in India (-0.5% de- (8% growth) 20 growth)

NPK Fertilisers, Single Super Phosphate

Crop Protection – Chemicals & Bio*

Specialty Nutrients – Water Soluble Fertilisers, Micro Nutrients Organic Fertilisers * Mana Gromor Centres – Agri Retail venture

Services – Farm mechanisation, farm credit, crop insurance *Acquired Bio division of EID Parry w.e.f. 01-Apr-2018 26 Net Sales

Rs. Crores CAGR 3%

13,159 13,091

11,245 11,571 11% 11,027 9,977 14%

FY 15 FY 16 FY 17 FY 18 FY 19 FY20

27 EBITDA

Rs. Crores CAGR 14%

13.5% 11.9% 11.2% 10.4% 1,771 8.1% 7.2% 1,480 1,316

1,038 910 833

FY 15 FY 16 FY 17 FY 18 FY 19 FY20 EBITDA % 28 Profit After Tax (PAT)

Rs. Crores

CAGR 22%

8.1%

6.3% 1,064 5.5% 4.8% 3.6% 3.1% 720 691

477 402 357

FY 15 FY 16 FY 17 FY 18 FY 19 FY20 PAT % 29 EID - Parry (India) Limited

Manufacturing Largest sugar Revenue Market Cap Partnerships manufacturer Locations in South India Rs. 3,967 Cr. Rs. 2,461 Cr. (21% growth) (-32% de-growth) 15

Sugar, Co-gen & Distillery

Nutritional Health Supplements

Port-based Parry Sugar Refinery in Kakinada

30 Net Sales

Rs. Crores

CAGR 9%

4,569 4,353 3,967 3,808

3,283

2,599

FY 15 FY 16 FY 17 FY 18 FY 19 FY20

* Bio Products division hived off from EID Parry to Coromandel w.e.f 1st Apr 2018 31 EBITDA

Rs. Crores

13.8%

12.6% 618 CAGR -1% 8.8%

6.0% 5.4% 405 7.8% 328 309

210 198

FY 15 FY 16 FY 17 FY 18 FY 19 FY20 EBITDA % 32 Profit After Tax (PAT)

Rs. Crores

6.9%

302

2.4%

0.6% 79 -10 28 -42 -0.4% -135 -1.1% -3.6%

FY 15 FY 16 FY 17 FY 18 FY 19 FY20 PAT % 33 01 Agriculture

02 Engineering

03 Financial Services

34 Tube Investments of India Limited Market leader of Market Cap Largest transmission chains Revenue TII Manufacturing manufacturer of in India Locations cold drawn welded & 2nd largest Rs 4,520 Cr. Rs 5,146 Cr. steel tubes in India manufacturer of (-17% de-growth) SGL cycles 21 Rs 503 Cr. Tube Products of India (TPI)

TI Cycles of India (TICI)

Industrial Chains (IC)

Metal Formed Products Division (MFPD)

Shanthi Gears Ltd. (SGL)

SEDIS Group, France 35 Net Sales

Rs. Crores CAGR 2%

5,462

4,760 4,322 4,520 4,185 4,038

27%

38% 42%

27%

FY 15 FY 16 FY 17 FY 18 FY 19 FY20

36 EBITDA

Rs. Crores

CAGR: 10%

14.2%

10.9% 10.4% 10.4% 641 9.8% 9.3% 598

436 451 442 394

FY 15 FY 16 FY 17 FY 18 FY 19 FY20 EBITDA% 37 Profit After Tax (PAT)

Rs. Crores

17.8%

CAGR 20%

746 6.9%

4.6% 4.0% 3.2% 550* 3.3%

251 313 127 196 174 156 FY 15 FY 16 FY 17 FY 18 FY 19 FY20

PAT % 38 * FY 16 PAT includes Rs. 550Cr from part stake sale of Insurance business Carborundum Universal Limited Globally 2nd Largest Electro- manufacturer Revenue Market Cap Manufacturing Minerals & of Metallised Locations Abrasives Cylinders & Rs 2,569 Cr. Rs 4,205 Cr. player in India Largest Silicon (-3% de-growth) (-46% de-growth) 20 Carbide player in Russia

Coated Abrasives, Bonded Abrasives, Partnerships Super Abrasives

Sintered Aluminum Oxide & Silicon Carbide

Industrial Ceramics (IC) , Bio- Ceramics

Super Refractories, Anticorrosion products 39 Net Sales

Rs. Crores

CAGR 5%

2,656 2,569 2,330 2,019 2,080 1,917

FY 15 FY 16 FY 17 FY 18 FY 19 FY20

40 EBITDA

Rs. Crores CAGR:9%

17.3% 17.2% 18.1% 17.5% 17.3% 14.3% 466 444 422

357 331 290

FY 15 FY 16 FY 17 FY 18 FY 19 FY20 EBITDA % 41 Profit After Tax (PAT)

Rs. Crores

CAGR 15%

10.7% 9.4% 9.3% 8.8% 275 7.5% 248 6.8% 220

184

138 144

FY 15 FY 16 FY 17 FY 18 FY 19 FY20

PAT % 42 Diversified Business Group

Parry Agro and New Ambadi (Plantations) • Tea Plantations • Rubber Plantations

Ambadi • Home furnishings supplied to global brands

Parry Enterprises India Ltd • Marketing of food intermediaries, travels

Coromandel Engineering • Construction and Property Development

43 01 Agriculture

02 Engineering

03 Financial Services

44 Cholamandalam Investment and Finance Company Limited

Branches AUM Disbursements Market Cap Customers across India Rs. 60,549 Cr. Rs. 29,091 Cr. Rs. 12,527 Cr. (12% growth) (-4% de-growth) (-45% de-growth) 1,100+ Over 1 million

Vehicle Finance Home Equity

Small and Medium Enterprises Lending Home Loans

45 Disbursement

Rs. Crores CAGR 18%

30,451 29,091

25,114

18,591 16,380

12,808

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

46 Note: FY 15 to FY 17 as per I GAAP. FY 18 , FY 19 & FY 20 are as per IND AS Assets Under Management (AUM) Rs. Crores CAGR 19%

60,549 54,279

42,924

34,167 29,650 25,453

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

47 Note: FY 15 to FY 17 as per I GAAP. FY 18 , FY 19 & FY 20 are as per IND AS

Rs. Crores CAGR 19%

8,713

7,109

5,559 4,693 4,214 3,715

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

48 Note: FY 15 to FY 17 as per I GAAP. FY 18 , FY 19 & FY 20 are as per IND AS Profit After Tax

Rs. Crore CAGR 19% 12.0% 13.6% 15.3% 16.5% 16.8% 12.1% 1,197 1,054 918 718 575 444

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 PAT%

Excluding Additional Provision CAGR 26% 13.6% 15.3% 16.5% 16.8% 12.0% 15.9% 1,387 1,197 918 718 575 444

FY 15 FY 16 FY 17 PAT% FY 18 FY 19 FY 20 49 Note: FY 15 to FY 17 as per I GAAP. FY 18 , FY 19 & FY 20 are as per IND AS Cholamandalam MS General Insurance Company Limited

JV with GWP Investment Branches Banca Partners book size across India Rs. 4,398 Cr. Rs. 9,079 Cr. (-1% de-growth) (19% growth) 135

Motor - Own Fire, Property, Damage Marine

Motor - Third Health & Accident Party

50 Gross Written Premium (GWP) Rs. Crores CAGR 18%

4,428 4,398 4,103

3,133

2,452

1,890

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 51 Investment Income & Yield %

10.1% 10.0% 9.6% 8.9% 9.1% 7.9% 759

538 489 421 327 296

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

Investment Yield % 52 Profit After Tax (PAT)

Rs. Crores CAGR 2% 7.3% 6.0% 6.6% 5.9% 4.0% 3.4% 243 208 179 137 148 149

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 PAT %

Rs. Crores Excluding Bond Impairment CAGR 21% 7.3% 6.0% 6.6% 5.9% 4.8% 8.1% 357

243 208 212 137 148

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 PAT % 53 Investment Book Size

Rs. Crores CAGR 23%

9,079

7,596

6,363

4,892

3,861 3,165

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

54 Section Possibilities 03 of the Future Research & Development

55 Research & Development

R&D Centre, Vizag 18 DSIR Labs Corporate Technology Centre - TII

Sugarcane R&D Material Science - CUMI 56 Working with Academia

IIT - Madras

Tamil Nadu Agricultural University Tamil Nadu Veterinary and Animal Sciences University 57 Working with Academia

BITS Pilani

High strength tubes for Indian Institute of Information Technology, Design and Manufacturing, IIT-M ‘Formula’ race car Kancheepuram

58 Section Mahimai* in practice - The tradition 04 of Serving Society

Corporate Social Responsibility

59 AMM Foundation – Healthcare Initiatives

4 hospitals run by AMM Foundation

8 lakh out-patients and over 11,000 in-patients

New Diagnostic block constructed at Sir Ivan Stedeford Hospital (functional since Apr’18)

Mobile Health Van service in Haliyal (North Karnataka), Sarigam (Gujarat) and Deckiajuli (Assam)

60 AMM Foundation – Education Initiatives

4 schools and 1 Polytechnic College (~10,000 students, of which 7,000 belong to marginalised communities)

AMM Murugappa Chettiar Centenary Scholarships (full fee) for 218 economically backward students

Mobile Science Van - facilitated science education in 44 govt. and govt-aided schools in Sivagangai and Pudukottai district

Murugappa Science Centre reaches out to 15 govt. and govt.-aided schools in Sivagangai and Pudukottai districts and had a total of 15,000 student exposure

61 Company CSR initiatives

TII’s - Basic Training Centre (BTC) CUMI’s Centre for Skill 131 trainees underwent Development skill & technical training at in FY20 Currently 196 trainees are undergoing skill & technical training at the Hosur & Edapally

62 Protecting The Environment

A birds paradise within our Kakinada plant Once a marshy water-logged area, has today transformed into a serene, lush green-belt proving to be an ideal habitat for diverse species of birds while greatly contributing to bio- diversity and conservation of the ecosystem.

Home to over 100 bird species including 24 long-distance migratory species. 63 Company CSR Initiatives

Launched in March 2019, #JaldiKyaHai is a road safety initiative against over-speeding, by Chola Finance. Using social media, they promoted the message – ‘drive safe’ through a series of multilingual social awareness films. The campaign hopes to bring about a change in the behaviour of road users and make roads safer. This campaign has since garnered over 30 million views across social media platforms and 41 million listeners across 16 states and 32 cities.

64

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