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Yay xy /m= Gujarat Narmada Valley

a pae ln
wa’ nzadina Fertilizers & Chemicals Limited
GNEC “"™"*Mahotsav CIN : L24110GJ1976PLC002903
An ISO 9001, ISO 14001, ISO 45001 & ISO 50001 Certified Company P.O Narmadanagar - 392015, Dist. Bharuch, Gujarat, India
Ph. (02642) 247001, 247002 Website: www.gnfc.in

FAX : 02642 — 247084

NO. SEC/BD/SE/ E-Mail: acshah@gnfc.in
November 10, 2022
The Manager
Dy General Manager Listing Department
BSE Ltd. National Stock Exchange of India Ltd.
Corporate Relationship Dept Exchange Plaza,
1st Floor, New Trading Ring, C-1, Block - “G”,
Rotunda Bldg Bandra-Kurla Complex, Bandra (E)
PJ Towers, Dalal Street, Fort Mumbai — 400 051
Mumbai-400 001

Co. Code: BSE - "500670" Co. Code: NSE- "GNFC EQ"

Sub.:_Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015.
Ref.: Intimation of Investor meet_vide our letter dated 08'" November, 2022

Dear Sir/Madam,

With reference and subject to the above, we wish to inform your good self that Senior
Management of the Company is scheduled to meet the Investors / Analysts on Friday ,
11° November , 2022 at 3.30 PM IST through Conference Call. An Invite for the said
Conference Call has already been submitted to you through our letter dated 08t
November, 2022.

In continuation of our above submission, we would like to submit the Investor

Presentation for our Investors / Analysts meet, scheduled on Friday 11" November ,
2022 at 3.30 PM IST for the Q2 of FY 22-23.

We request you to kindly take note of the above.

Thanking you,

Yours faithfully,
For GUJARAT NARMADA VALLEY FERTILIZERS & CHEMICALS LTD
ASHWINKUMA Disitally signed by
ASHWINKUMAR
RCHIMANLAL CHIMANLAL SHAH
Date: 2022.11.10
SHAH 1732:43 +05'30"

CS AC SHAH
COMPANY SECRETARY & GM (LEGAL)

ENCL: A: A:
Gujarat Narmada Valley Fertilizers & Chemicals Ltd

INVESTOR PRESENTATION – CONFERENCE CALL – Q2 FY 22-23

11th November, 2022

Cautionary Note - Forward Looking Statement

 This presentation may contain statements which reflect the management’s current views and
estimates and could be construed as forward looking statements.

 The future involves certain risks and uncertainties that could cause actual results to differ materially
from the current views being expressed.

 Potential risks and uncertainties include such factors as general economic conditions, foreign exchange
fluctuations, competitive product and pricing pressures and regulatory developments.

GNFC I Investor Presentation I Q2 FY 22-23 2 of 16

Company Overview

Fifth Decade of Successful Operation Manufacturing Facilities in Bharuch & Dahej

Only company in India to produce

PAN India Marketing Network Oil based Ammonia &
Toluene Di-Isocyanate (TDI)

Basket of Key Chemical Products 2600+

Manpower Strength

GNFC I Investor Presentation I Q2 FY 22-23 3 of 16

Our Facilities
Corporate Office
Segment Plants Installed Capacity (KTPA)

Acetic Acid 100

Ammonia 446
Aniline 35
Chemicals Concentrated Nitric Acid 116 Bharuch

Ethyl Acetate 50
Formic Acid 10
Bharuch Plant
Methanol 269
Since 1982
Toluene Di – Isocyanate 64
Weak Nitric Acid 348
Dahej

Fertilizers Ammonium Nitro-Phosphate 143

Dahej Plant
Neem Urea 637
Since 2014

GNFC I Investor Presentation I Q2 FY 22-23 4 of 16

Longstanding Clientele (Major Brands) Using GNFC Products
Toluene Di-Isocyanate Aniline & Formic Acid Technical Grade Urea

GNFC I Investor Presentation I Q2 FY 22-23 5 of 16

Share price Movement

GNFC Sensex Linear (GNFC) Linear (Sensex)

250

195
200

148
150
132

100 102
100
100 99 99 97
90

50

0
SE P - 2 1 DEC - 2 1 MA R- 2 2 JUN - 2 2 SE P- 2 2

# Source: BSE # Rebased to 100 # S&P BSE SENSEX

GNFC I Investor Presentation I Q2 FY 22-23 6 of 16

From The Desk of Managing Director
Operating and Financial Performance:
Shri Pankaj Joshi
On operating revenue front, both, Q-2 and H-1 have posted highest ever operating revenue. Managing Director

Q-2 FY 22-23 Operating Revenue at ₹2,587 crores is historical highest which is 23% higher than previous highest ever recorded in Q-2 FY 21-22.

H-1 FY 22-23 Operating Revenue at ₹5,283 crores is historical highest which is 51% higher than previous highest ever recorded in H-1 FY 21-22.

H-1 FY 22-23 PBT at ₹1,077 crores is also the historical highest which is 38% higher than its previous highest ever H-1 PBT recorded in H-1 FY 21-22 i.e.
last year which was a year of GNFC’s historical financial performance.

During Q-2, the PBT stood at ₹316 crores. On sequential quarter basis, the key factors affecting the operating margins are:

1. Moderation in chemicals buoyancy across the board

2. Operating outage at Bharuch Complex leading to saleable volume losses coupled with unproductive costs
3. Long term wage settlements accruals w.e.f. 1st July-2022.
4. Input costs continues its upward run

Withstanding above economic realities, the company has still posted better performance on operating revenue front along with profitable
performance.

It is heartening to note that Operating Revenue on Trailing Twelve Months(TTM) basis has crossed ₹10,000 crores.

GNFC I Investor Presentation I Q2 FY 22-23 7 of 16

Financial Performance
(₹ Crores)

FY 22-23 FY 21-22 FY 22-23 FY 21-22 Change Performance: Q-2 FY 22-23 Operating

Particulars
Revenue at ₹2,587 crores is historical
Q2 Q1 Q2 H1 Y-o-Y highest which is 23% higher than previous
Operating Revenue 2,587 2,696 2,096 5,283 3,490 51% highest ever recorded in Q-2 FY 21-22.

H-1 FY 22-23 Operating Revenue at ₹5,283

Total Revenue 2,672 2,772 2,154 5,444 3,591 52% crores is historical highest which is 51%
higher than previous highest ever recorded
Operating EBITDA @ 309 763 431 1,072 824 30% in H-1 FY 21-22.

EBITDA % @ 12% 28% 21% 20% 24% Similarly, H1 FY 22-23 PBT at ₹1,077 crores
is also the historical highest which is 38%
PBT 316 761 417 1,077 782 38% higher than previous highest ever recorded
in H-1 FY 21-22.
PAT 237 569 282 806 522 54%

@ Excludes Other income. Other income = Total Revenue less Operating Revenue

GNFC I Investor Presentation I Q2 FY 22-23 8 of 16

Segment Performance
(₹ Crores)

Segment Revenue Segment Result

22 26 9
3,000 800
23
2,500
600
2,000 1,462 1,797
3 6
1,500 1,447 400 666
1,000
200 377
1,103 873 238 4
500 626
21 36
- -
Q2 Q1 Q2 Q2 Q1 Q2
FY 22-23 FY 21-22 FY 21-22 FY 22-23 FY 22-23 FY 21-22

Fertilizers Chemicals Others Fertilizers Chemicals Others

On Q-0-Q basis, fertilizer did better, inter alia due to better sales volume effect. Whereas chemical segment witnessed subdued realisations
across the board coupled with sales volume reduction due to operational outage mainly at Bharuch Complex around July-22 end. Things have
been stabilised thereafter and throughputs are normal thereafter.

GNFC I Investor Presentation I Q2 FY 22-23 9 of 16

Segment Performance
(₹ Crores)

Segment Revenue Segment Result

48 12
6,000 1,000 13

5,000 44 800
4,000 3,259 600 904
3,000
2,429 400 713
2,000
1,976 200
1,000 1,017 57
11
- -
H1 H1 H1 H1
FY 22-23 FY 21-22 FY 22-23 FY 21-22

Fertilizers Chemicals Others Fertilizers Chemicals Others

The fertilizer segment on YTD basis showed better performance due to commendable GoI support for subsidy mainly on complex fertilizers
front

GNFC I Investor Presentation I Q2 FY 22-23 10 of 16

Balance Sheet Summary
(₹ Crores)

Particulars 30-09-22 31-03-22 Variance

* includes cash & cash equivalents, other bank
Total Equity 8,490 7,899 7% balances and deposit with a body corporate.

Deferred tax liability (Net) 402 422 (5%) ** includes Property, plant & equipment, Investment
property, Intangible assets, capital work in
Other non-current liabilities 326 316 3% progress and Right of use assets less
Government Grants.
Total Liabilities 9,218 8,637
*** represents total current assets less total current
Cash, Bank & Deposits * 3,519 3,682 (4%) liabilities adjusted for current investments, cash,
bank, deposits and current government grants.
Net Fixed Assets ** 2,942 3,011 (2%)
The main increase is attributable to increase in
fertilizer subsidies due to sharp increase in
Investments 1,495 1,222 22%
feed/fuel prices.
Net Working Capital *** 1,029 496 107%
With high net worth proportion in the overall balance
Other non-current assets 233 226 3% sheet size and debt free position, the company has a
strong financial position to wither future shock.
Total Assets 9,218 8,637

GNFC I Investor Presentation I Q2 FY 22-23 11 of 16

Cash Flow Summary
(₹ Crores)

H1 H1
Particulars Variance
FY 22-23 FY 21-22
A Operating Cash Flow before Working Capital changes 1,118 839 33%

Net Change in Working Capital (674) 15 (4,593%)

Operating cash flows are lower
Taxes Paid (249) (162) (54%) than profits mainly due to
working capital increase.
B Net cash from Operating Activities 195 692 (72%)

C Net cash (used in) Investing Activities (103) (565) 82% Closing cash balance are lower
due to investment activities of
D Net cash (used in) Financing Activities (5) (4) (25%) surplus funds.
E Net Increase in Cash & Cash Equivalent 87 123 (29%)

F Cash and cash equivalents at the beginning of the year 73 135 (46%)

G Cash and cash equivalents at the end of the year 160 258 (38%)

GNFC I Investor Presentation I Q2 FY 22-23 12 of 16

Feedstock Spread
Price (₹ ‘000/MT) Price (₹ ‘000/MT)

Toluene TDI Methanol Acetic Acid

236 235
237 94
210
82
169
63
54
49

87 92 40
66 69 71 35 33 34 28

SEP-21 DEC-21 MAR-22 JUN-22 SEP-22 SEP-21 DEC-21 MAR-22 JUN-22 SEP-22

Source: Company

GNFC I Investor Presentation I Q2 FY 22-23 13 of 16

Key Inputs Cost Movement
(₹ ‘000)

Oil (Rs. / MT) N (Gas) Rs. / '000 SM3 Imported Coal (Rs. / MT)

88 87 87
135%

72
66 66
59%

49
47
42

37

17
140%
9 10
7 7

Sep-21 Dec-21 Mar-22 Jun-22 Sep-22

% Represent Y-o-Y Changes Source: Company

GNFC I Investor Presentation I Q2 FY 22-23 14 of 16

Expansion Plan on Track

Ongoing Projects FY22-23 FY23-24 FY24-25 FY25-26

Concentrated Nitric Acid (CNA)-IV 50 KTPA

4 MW Solar Power Project 04 MV (AC)

10 MW Electrolyser based Green Hydrogen Project Phase - I

Coal Based Steam & Power Plant, TDI-II Capacity [CCPP] 150 Mt/Hr. Steam & 18 MW Power

Ammonia Expansion 50 KTPA

WNA 200 KTPA

AN-II 163 KTPA

Projects Under Naphtha Based Cracker & Down

Evaluation
Polycarbonate
Stream Chemicals

GNFC I Investor Presentation I Q2 FY 22-23 15 of 16

 THANK YOU
For any query please write to
investor relation cell at: investor@gnfc.in