Regd. Office 301, E – Square, Subhash Road, Vile Parle East, Mumbai 400057 Maharashtra, India.

Tel.: (+91 22) 40842222, Fax: (+91 22) 2610 8030, Email: info@nglfinechem.com CIN L24110MH1981PLC025884,Website www.nglfinechem.com

May 18, 2023

To,
Listing Department, Listing Department,
The BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1
Dalal Street, Fort, G Block, Bandra Kurla Complex,
Mumbai 400 001. Bandra East, Mumbai 400050.

Sub: Investor Presentation for 4th quarter and year ended March 31, 2023.
Scrip Code: 524774 – NGL Fine-Chem Limited SYMBOL: NGLFINE

Dear Sir/Madam,

Pursuant to Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements)

Regulations, 2015 enclosed herewith please find Investor Presentation for the 4th quarter
and year ended March 31, 2023.

Kindly take the same on your record.

Thanking you,

Yours faithfully,
For NGL Fine-Chem Limited
Pallavi Digitally signed by
Pallavi Satish
Satish Pednekar
Date: 2023.05.18
Pednekar 10:54:31 +05'30'
Pallavi Pednekar
Company Secretary & Compliance Officer
Membership No: A33498

Encl: Investor Presentation.

NGL Fine-Chem Limited
INVESTOR P R ES EN TATI ON

Q4FY23 & FY23

Disclaimer

This investor presentation has been prepared by NGL Fine-Chem Limited and does not constitute a prospectus or placement memorandum or an offer to
acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or supplied should not be deemed to
constitute an offer. No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy,
completeness or correctness of such information or opinions contained herein. The information contained in this presentation is only current as of its
date. 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 the general business plans and strategy of NGL Fine-Chem Limited, its future financial condition and growth prospects, future
developments in its industry and its competitive and regulatory environment, and statements which contain words or phrases such as 'will', 'expected to',
'horizons of growth', 'strong growth prospects', etc., or similar expressions or variations of such expressions. These forward-looking statements involve a
number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those
suggested by the forward-looking statements. NGL Fine-Chem Limited 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 cannot be copied and disseminated in any manner.

02 NGL Fine-Chem Limited

Inside
This Presentation Pg. No. Pg. No.

04 11
Q4FY23 & Over view,
FY23 Key Strengths
Highlights and Strategy

Pg. No.

16
Historical
Financial
Performance
01
Q4FY23 & FY23
Highlights
05 M A N A G E M E N T C O M M E N TA R Y
06 Q U A R T E R LY O P E R AT I O N A L M E T R I C S
07 F U L L Y E A R O P E R AT I O N A L M E T R I C S
08 S U M M A R Y O F P R O F I T A N D LO S S S TAT E M E N T
09 SUMMARY OF BAL ANCE SHEET
10 S U M M A R Y O F C A S H F LO W S TAT E M E N T
MANAGEMENT COMMENTARY

Dear Shareholders,
W e a n ti ci p a te th a t th e o p er a ti n g en v i r o n men t wi l l
I a m p l ea s ed to p r o v i d e y o u wi th a n u p d a te o n th e
co n ti n u e to p o s e ch a l l en g es fo r th e n ext two q u a r ter s .
p er fo r ma n ce o f N G L Fi n e C h em L i mi ted fo r th e q u a r ter
N ev er th el es s , we ta ke p r i d e i n ma i n ta i n i n g o u r ma r ket
g o n e b y . W e h a v e r ema i n ed o n tr a ck wi th o u r ea r l i er
s h a r e a mi d s t th es e tr y i n g ci r cu ms ta n ces a n d h a v e
s ta ted g u i d a n ce o f a s eq u en ti a l r eco v er y i n o u r
b o l s ter ed o u r b u s i n es s th r o u g h th e i n tr o d u cti o n o f n ew
b u s i n es s , a cco mp a n i ed b y a n i mp r o v emen t i n o p er a ti n g
p r o d u ct o ffer i n g s . O u r p r o d u ct p o r tfo l i o h a s n o w g r o wn
ma r g i n s .
to 2 6 p r o d u cts i n th e v eter i n a r y A P I s eg men t a n d 2 i n
th e h u ma n h ea l th s eg men t. V a l i d a ti o n b a tch es o f th e
T h e o p er a ti o n a l ma r g i n s i n th e q u a r ter wer e a i d ed b y a
n ew p r o d u cts h a v e b een co mp l eted a n d cu s to mer
n o ta b l e d ecr ea s e i n th e p r i ces o f r a w ma ter i a l s . T h i s
a p p r o v a l s h a v e b een i n i ti a ted .
fa cto r , co u p l ed wi th o u r d i l i g en t co s t ma n a g emen t
p r a cti ces , h a s s i g n i fi ca n tl y co n tr i b u ted to th e
R eg a r d i n g o u r ca p a ci ty exp a n s i o n p l a n s , we h a v e
en h a n cemen t o f o u r o v er a l l p r o fi ta b i l i ty .
d eci d ed to temp o r a r i l y s l o w d o wn th e execu ti o n s p eed
Rahul Nachane N ev er th el es s , we a ckn o wl ed g e th a t th e d ema n d fo r o u r
d u e to th e a v a i l a b i l i ty o f s p a r e ca p a ci ty a t o u r exi s ti n g
s i te. A s th e o p er a ti n g en v i r o n men t i mp r o v es a n d
p r o d u cts h a s r ema i n ed r el a ti v el y s u b d u ed , p r i ma r i l y d u e
MANAGING DIRECTOR v i s i b i l i ty i s r es to r ed , we wi l l exp ed i te th e execu ti o n p a ce
to th e p r ev a i l i n g h i g h l ev el o f u n cer ta i n ty a mo n g o u r
a cco r d i n g l y . U n ti l th en , we r ema i n co mmi tted to
en d cu s to mer s . T h e o n g o i n g cr i s i s i n E u r o p e a n d th e
fu n d i n g o u r ca p i ta l exp en d i tu r es u s i n g th e i n ter n a l
el ev a ted i n fl a ti o n r a te i n a n u mb er o f co u n tr i es h a s
a ccr u a l s g en er a ted b y o u r b u s i n es s , wi th o u t r es o r ti n g
i n s ti l l ed a s en s e o f ca u ti o n a n d p r u d en ce, p r o mp ti n g
to l ev er a g i n g o u r b o o ks .
o u r cu s to mer s to a d o p t mea s u r es to r a ti o n a l i ze th ei r
i n v en to r y l ev el s . C o n s eq u en tl y , we h a v e wi tn es s ed a
mu ted d ema n d fo r o u r p r o d u cts .
O n b eh a lf o f t h e en t ir e m a n a g em en t t ea m , I w o u ld lik e
t o ex p r es s o u r d eep es t g r a t it u d e f o r yo u r u n w a v er in g
I n a d d i ti o n , th e d ema n d h a s a l s o b een d a mp en ed b y t r u s t a n d s t ea d f a s t s u p p o r t . W e r em a in r es o lu t e in o u r
cu r r en cy cr i s es i n co u n tr i es s u ch a s T u r key , B a n g l a d es h , c o m m it m en t t o d eliv er lo n g -t er m v a lu e t o a ll o u r
E g y p t, a n d P a ki s ta n . T h e a d v er s e eco n o mi c co n d i ti o n s es t eem ed s t a k eh o ld er s .
i n th es e r eg i o n s h a v e fu r th er h a mp er ed th e r eco v er y o f
d ema n d fo r o u r o ffer i n g s .
5 NGL Fine-Chem Limited
Quarterly Operational Metrics

SEGMENTAL REVENUE MIX PRODUCT CONCENTRATION

PARTICULARS Q4FY22 Q3FY23 Q4FY23 PARTICULARS Q4FY22 Q3FY23 Q4FY23

ANIMAL API 85% 81% 81% TOP 3 PRODUCTS 35% 39% 41%
HUMAN API 9% 5% 3%
TOP 5 PRODUCTS 51% 53% 58%
INTERMEDIATES 5% 8% 11%
TOP 10 PRODUCTS 78% 77% 78%
FORMULATIONS 1% 6% 4%

GEOGRAPHIC MIX CUSTOMER CONCENTRATION

PARTICULARS Q4FY22 Q3FY23 Q4FY23 PARTICULARS Q4FY22 Q3FY23 Q4FY23

Asia 32% 38% 31%

TOP 3 CUSTOMERS 17% 17% 26%
Europe 29% 29% 38%
India 28% 21% 18% TOP 5 CUSTOMERS 25% 25% 33%
ROW 10% 11% 12%
TOP 10 CUSTOMERS 39% 39% 46%
USA 0% 1% 0%

06 NGL Fine-Chem Limited

Full Year Operational Metrics

SEGMENTAL REVENUE MIX PRODUCT CONCENTRATION

PARTICULARS FY21 FY22 FY23 PARTICULARS FY21 FY22 FY23

ANIMAL API 76% 81% 83% TOP 3 PRODUCTS 44% 37% 34%
HUMAN API 7% 7% 5%
TOP 5 PRODUCTS 57% 52% 47%
INTERMEDIATES 9% 9% 7%
TOP 10 PRODUCTS 79% 76% 72%
FORMULATIONS 8% 3% 5%

GEOGRAPHIC MIX CUSTOMER CONCENTRATION

PARTICULARS FY21 FY22 FY23 PARTICULARS FY21 FY22 FY23

Asia 37% 35% 34%

TOP 3 CUSTOMERS 16% 13% 17%
Europe 31% 27% 30%
India 23% 24% 22% TOP 5 CUSTOMERS 23% 20% 24%
ROW 7% 10% 12%
TOP 10 CUSTOMERS 39% 33% 35%
USA 3% 3% 2%

07 NGL Fine-Chem Limited

Summary of Profit and Loss Statement

₹ IN CRORES

PARTICUL ARS Q4FY22 Q3FY23 Q4FY23 Q-o-Q Y-o-Y FY22 FY23 Y-o-Y

REVENUE FROM OPERATIONS 84.06 71.93 73.89 2.72% -12.10% 317.50 278.08 -12.42%

OTHER INCOME 2.98 0.69 2.10 204.35% -29.53% 10.68 5.53 -48.22%

TOTAL REVENUE 87.04 72.62 75.99 4.64% -12.70% 328.19 283.61 -13.58%

TOTAL OPERATING EXPENSES 73.49 62.12 60.92 -1.93% -17.10% 249.65 243.76 -2.36%

EBITDA 10.57 9.81 12.97 32.21% 22.71% 67.85 34.32 -49.42%

EBITDA MARGIN (%) 12.57% 13.64% 17.55% 391 bps 498 bps 21.37% 12.34% (903) bps

FINANCE COST 1.54 0.26 0.34 30.77% -77.92% 1.56 1.20 -23.08%

DEPRECIATION AND AMORTISATION EXPENSES 3.48 1.23 2.68 117.89% -22.99% 10.37 11.29 8.87%

PROFIT BEFORE TAX 8.53 9.01 12.05 33.74% 41.27% 66.60 27.36 -58.92%

PROFIT AFTER TAX 6.87 6.49 9.32 43.61% 35.66% 49.90 20.5 -58.92%

08 Click for more NGL Fine-Chem Limited

Summary of Balance Sheet

₹ IN CRORES

PARTICUL ARS FY22 FY23

SHAREHOLDERS FUND 203.22 222.55

NON CURRENT LIABILITIES 8.06 6.23
LONG TERM BORROWINGS 3.44 2.07
CURRENT LIABILITIES 65.65 58.30
SHORT TERM BORROWINGS 23.43 28.41
TOTAL EQUITY AND LIABILITIES 276.93 287.08

NON CURRENT ASSETS 103.44 124.43

NET BLOCK 88.31 87.59
CURRENT ASSETS 173.49 162.65
INVENTORIES 56.01 26.99
TRADE RECEIVABLES 63.98 65.87
CASH & BANK BALANCES 0.83 5.00
TOTAL ASSETS 276.93 287.08

09 Click for more NGL Fine-Chem Limited

Summary of Cash Flow Statement

₹ IN CRORES

PARTICUL ARS FY22 FY23

CASH FLOW FROM OPERATING ACTIVITIES 13.83 35.29

CASH FLOW FROM INVESTING ACTIVITIES -14.21 -27.02

CASH FLOW FROM FINANCING ACTIVITIES -1.08 -1.08

NET CASH FLOW -1.46 7.18

CASH AT THE BEGINNING OF YEAR 2.1 0.64

CASH AT THE END OF YEAR 0.64 7.83

10 Click for more NGL Fine-Chem Limited

02
Overview,
Strengths and Strategy
12 L E A D I N G A N I M A L H E A LT H C O M PA N Y
13 LEADERSHIP IN VETERINARY API SEGMENT
14 S TAT E - O F - T H E - A R T M A N U FA C T U R I N G
C A PA B I L I T I E S
15 S T R AT E G Y F O R N E X T L E G O F G R O W T H
Leading Animal Health Company

COMPREHENSIVE MARKET MANUFACTURING LARGE GLOBAL LONG STANDING

PRODUCT LEADERSHIP EXCELLENCE PRESENCE CUSTOMER
PORTFOLIO IN VETERINARY API RELATIONSHIPS

• 26 APIs (24 Veterinary • Leadership in top • 3 state of the art • 45+ countries across • ~400 customers
APIs, 2 Human APIs), 5 products – 50%+ manufacturing the globe with
4 Intermediates and market share facilities country-wise • Reliable supplier
10 finished dosage regulatory approvals focused on good
forms • Growing position in • Strong R&D sale support to all
next 4 – taking market capabilities in • Strong presence in customers
• Best quality and share from other custom synthesis unregulated markets
value-driven pricing players

12 NGL Fine-Chem Limited

Leadership in Veterinary API Segment

REVENUE FROM VETERINARY CUSTOMER & PRODUCT

Strong controls of processes with
95% in-house manufacturing and
API SEGMENT
(₹ IN CRORES) 15%
CAGR
CONCENTRATION
(OF SALES FY23)
backward integrated facilities
leading to cost competitiveness FY23 225
CUSTOMER PRODUCT
FY22 258

17% 34%
FY21 205 TOP 3
High quality and reliable FY20 135 (13% FY22) (37% FY22)
products with no market
rejection in 15 years FY19 127
0 50 100 150 200 250 300

24% 47%
TOP 5

WIDE RANGE OF PRODUCT CATEGORIES (20% FY22) (52% FY22)

Market share ranging from 15%
to 50%+ in key products
ANTHELMINTICS ECTOPARASITICIDES
35% 72%
TOP 10

(33% FY22) (76% FY22)

Suppliers to 5 of top 10 global PHOSPHORUS
animal healthcare companies ANTIPROTOZOALS
SUPPLEMENTS

13 NGL Fine-Chem Limited

State-of-the-art Manufacturing Capabilities

HIGHLIGHTS

3 manufacturing facilities
located at Tarapur & Navi
10,000 m 2 102 m 3 194 m 3

AREA OF GLASS-LINED STAINLESS STEEL

Mumbai, Maharashtra, MANUFACTURING REACTORS REACTORS
designed to meet the FACILITIES

requirements of regulatory
agencies and are capable
of a wide range of reaction
capabilities
12 m 3 -20°C to +250°C
GAS INDUCTION REACTION RANGE
REACTORS

75% PRODUCTION COMING

FROM ZERO LIQUID
ACCREDITATIONS
WHO-GMP, ISO 9001:2015,
ISO 14001:2015, ISO 45001:2018
DISCHARGE FACILITIES
and cGMP accredited

14 NGL Fine-Chem Limited

Strategy for next leg of growth

BROWNFIELD EXPANSION

• Completed expansion in subsidiary Macrotech

ONGOING INITIATIVES • Additional capacities of intermediates
TO INCREASE

a
• Commercial production started
CAPACITIES TO MEET
GROWING DEMAND

GREENFIELD EXPANSION AT TARAPUR

• 50% capacity expansion with sufficient capacity to meet demand for new products in pipeline
LARGER EXPANSION
• Estimated capex of ₹ 140 Cr to be funded through debt and internal accrual
TO DRIVE THE NEXT

a
LEG OF EXPONENTIAL • Civil construction undergoing. Invested ₹ 26.31 crores during FY23
GROWTH

15 NGL Fine-Chem Limited

03
Historical Financial
Performance
17 ROBUST FINANCIAL PERFORMANCE
Robust Financial Performance

REVENUE EBITDA PAT

(₹ IN CRORES) (₹ IN CRORES) (₹ IN CRORES)

FY23 278 FY23 34 FY23 21

FY22 318 FY22 68 FY22 50
FY21 258 FY21 80 FY21 57
FY20 152 FY20 19 FY20 8
FY19 153 FY19 32 FY19 20
0 50 100 150 200 250 300 350 0 10 20 30 40 50 60 70 80 90 0 10 20 30 40 50 60

GROSS MARGIN EBITDA MARGIN PAT MARGIN

(IN %) (IN %) (IN %)

FY23 50% FY23 12% FY23 7%

FY22 54% FY22 21% FY22 16%
FY21 60% FY21 31% FY21 22%
FY20 58% FY20 13% FY20 5%
FY19 59% FY19 21% FY19 13%
0% 10% 20% 30% 40% 50% 60% 70% 0% 5% 10% 15% 20% 25% 30% 35% 0% 5% 10% 15% 20% 25%

EBITDA excludes Other Income

17 NGL Fine-Chem Limited

 FOR ANY FURTHER INFORMATION,
PLEASE CONTACT

Thank You
Pallavi Pednekar Abhishek Mehra
NGL FINE-CHEM TIL ADVISORS PRIVATE
LIMITED LIMITED
cs@nglfinechem.com abhishek@theinvestmentlab.in
+91 22 40842222 +91 95588 14500

Corporate Office
301, E-square, Subhash Road,
Vile Parle (East),
Mumbai - 400057,
Maharashtra, India

nglfinechem.com