Zuari Industries Limited · NSE:ZUARIIND
Zuari Industries — Q2 FY26 Earnings Presentation
32 slides from Zuari Industries's earnings presentation, Nov 13, 2025
Slide 1: Zuari Industries Limited
ZUARI INDUSTRIES LIMITED 5th Floor, Tower A, Global Business Park, M.G. Road, Sector 26, Gurugram - 122 002, India Tel: +91 (124) 482 7800, Email: ig.zgl@adventz.com, www.zuariindustries.in 13 November 2025 National Stock Exchange of India Ltd, BSE Limited Exchange Plaza, C-1, Block-G Phiroze Jeejee
Slide 2: Zuari Industries Ltd Investor Presentation Q2 FY26
Zuari Industries Ltd Investor Presentation Q2 FY26
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Zuari Industries 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 secu
Slide 4: List of Abbreviations
List of Abbreviations CFCL: Chambal Fertilizers & Chemicals Ltd DM: Development Manager FFPL: Forte Furniture Products India Ltd GSML: Gobind Sugar Mills Limited IFPL: Indian Furniture Products Ltd JD: Joint Developer JV: Joint Venture MCFL: Mangalore Chemicals & Fertilizers Ltd PPL: Paradeep Phosph
Slide 5: ZIL Structure
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Slide 6: Zuari Industries Ltd
Zuari Industries Ltd Strategic Divisions Subs/JVs Investments Zuari Infraworld India Simon India Ltd Zuari Finserv Ltd & Zuari Sugar, Power & Ltd (Engg. & Construction Insurance Brokers Ltd Real Estate Ethanol (Real Estate) Services) (Financial Services) Zuari Envien Bioenergy Zuari Management Zuari
Slide 7: Performance Snapshot
Performance Snapshot Operational Performance Highlights - Subs & JVs Financial Highlights Avg Sugar Realization ZIIL 10.39% 10.26% St. Regis, Dubai 86% Reduction in cost of +5.7% Q2 Y-o-Y; +5.1% H1 Y-o-Y borrowing (Y-o-Y) Commencement of Handovers March 26 Lowering of finance cost by Sugar Sales ✓ 3
Slide 8: Operational Performance
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Slide 9: Operational Performance - Production Metrics
Operational Performance - Production Metrics Power Ethanol Power Production (LU) Ethanol Production (Lakh L) Quarterly 66.7% 43.9% (11.8%) (13.4%) 68.0 100.2 Cane Crushing 60.0 86.8 No crushing in Q1 & Q2 due 36.0 60.3 to business seasonality. Sugar Production No production in Q1 & Q2 Q2FY26 Q1FY26
Slide 10: Operational Performance – Sales Metrics
Operational Performance – Sales Metrics Sugar Power Ethanol Quarterly Sugar Sales (Qtl) Sugar Realization (Rs/Qtl) Power Sales (LU) Ethanol Sales (Lakh L) (11.9%) 5.7% 630 % 7.6% (0.1%) (5.2%) (20.5%) 2.7% 4.2 7.7 97.6 4,033 4,036 7.3 77.6 3.7 3.6 72.1 3,815 1.0 Q2FY26 Q1FY26 Q2FY25 Q2FY26 Q1FY26 Q2
Slide 11: Financial Snapshot
Financial Snapshot
Slide 12: Q2 FY26 Financial Performance : Standalone
Q2 FY26 Financial Performance : Standalone (Rs Cr) Total Revenue EBITDA PBT (before excep items) Quarterly 3.0% 41.5% 4550% 42.3% 1966 % 10.4% 52.5 18.6 248.1 240.9 224.7 36.9 37.1 0.9 0.4 Q2FY26 Q1FY26 Q2FY25 Q2FY26 Q1FY26 Q2FY25 Q2FY26 Q1FY26 Q2FY25 Half-yearly 0.2% 16.0% 1200.7% 472.8 471.9 89.4
Slide 13: Financial Performance Snapshot – Q2 FY26 (Standalone)
Financial Performance Snapshot – Q2 FY26 (Standalone) Revenue (RE Division) 0.7 Cr Ethanol 48.2 Cr Total Revenue Power 6.6 Cr 248.1 Cr Op. EBITDA (SPE Division) Revenue 12.5 Cr (SPE Division) 203.8 Cr Margin: 6.13% Sugar 149.0 Cr Other Income 43.6 Cr Op. EBITDA (RE Division) -3.6 Cr
Slide 14: Review of Subsidiaries
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Slide 15: Zuari Infraworld India Ltd
Zuari Infraworld India Ltd Key Highlights Q2 Zuari Garden City Project – Phase IV St. Regis – Financial Centre Road, Dubai – The Residences (Plotted Development) Sales Overview 232/232 Units 100% Sold Out AED 1,304 Mn Project Progress Units Sold Total Sales Value 95% Construction Status 86% Project
Slide 16: Asset Light Business Model – DM Focus
Asset Light Business Model – DM Focus Gangothri Developers Texmaco Rail ) (Apartments) (Apartments, Retail & School) Under Development Land Area 9.4 Acres 11.8 Acres 180+ Acres Net Saleable Area 2.8 Mn sqft 1.8 Mn sqft ~ 2.4 Mn sqft Project Value* Mega Major - Timeline 5 Years 10 Years 3 to 4 Years
Slide 17: Key Developments Across Subsidiaries
Key Developments Across Subsidiaries Zuari Management Services Portfolio Expansion: Launch new SKUs pack of Orders Under execution PMS/AIF, Bonds, FDs, Offer business advisory Pink Salt, Jaggery Powder, ~144 Cr Mutual Funds etc. services through support on Khandsari social media marketing & CRM impl
Slide 18: ZEBPL Outlook
> ZUARI SJ “SbustRiEs adventz ZEBPL Outlook
Slide 19: ZEBPL JV: Strengthening Presence in Bioenergy
ZEBPL JV: Strengthening Presence in Bioenergy Business Overview • ZIL established 50:50 JV company (ZEBPL) with Envien International, Slovakia • ZEBPL is on track for completion of last leg of its first grain-based distillery in Aira, Lakhimpur Kheri,UP • Installed Capacity: 180 KLPD, Project Cost:
Slide 20: ZEBPL JV : Current Snapshots
[NoUsTRIES ZEBPL JV : Current Snapshots
Slide 21: Updates: Strategic Investments
Updates: Strategic Investments
Slide 22: Strategic Investments
Strategic Investments Value of strategic investments held by ZIL & its wholly–owned subsidiaries No. of Shares Share Price Value Change Company (Lakh) (Rs) (Rs Cr) (%) 30-Sep-25 30-June-25 30-Sep-25 30-June-25 30-Sep-25 30-June-25 Chambal Fertilizers & Chemicals Ltd. 595 595 510 565 3,039 3,362 (10%
Slide 23: Leadership
Leadership
Slide 24: Board of Directors
Board of Directors Saroj K. Poddar Jyotsna Poddar Akshay Poddar Athar Shahab Alok Saxena Chairman Non-Executive Director Non-Executive Director Managing Director Executive Director Vijay V. Paranjape Suneet Maheshwari Sanjeev Lall Manju Gupta Deepak Amitabh Independent Director Independent Director
Slide 25: Financial Performance
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Slide 26: Profit & Loss Statement (Standalone)
Profit & Loss Statement (Standalone) (Rs Cr) Q2 FY26 Q1 FY26 Q2 FY25 H1 FY26 H1 FY25 Particulars 30-Sep-25 30-June-25 30-Sep-24 30-Sep-25 30-Sep-24 Income Revenue from operations 204.5 210.3 207.4 414.8 421.9 Other income 43.6 14.4 33.5 58.0 50.0 Total income 248.1 224.7 240.9 472.8 471.9 Expenses C
Slide 27: Profit & Loss Statement (Consolidated)
Profit & Loss Statement (Consolidated) (Rs Cr) Q2 FY26 Q1 FY26 Q2 FY25 H1 FY26 H1 FY25 Particulars 30-Sep-25 30-June-25 30-Sep-24 30-Sep-25 30-Sep-24 Income Revenue from operations 241.2 257.4 237.3 498.6 463.0 Other income 45.2 10.2 39.9 55.5 56.2 Total income 286.4 267.6 277.2 554.1 519.2 Expenses
Slide 28: Segment Information (Consolidated)
Segment Information (Consolidated) (Rs Cr) Q2 FY26 Q1 FY26 Q2 FY25 H1 FY26 H1 FY25 Particulars 30-Sep-25 30-June-25 30-Sep-24 30-Sep-25 30-Sep-24 Segment Revenue a) Sugar & allied products 167.6 173.5 171.6 341.1 340.4 b) Power 9.6 3.2 2.2 12.8 13.1 c) Ethanol Plant 48.4 61.4 44.1 109.8 102.2 d) Rea
Slide 29: Financial Performance: Op. Subsidiaries & Joint Ventures
Financial Performance: Op. Subsidiaries & Joint Ventures (Rs Cr) Income EBITDA PBT* Sub/JV Q2FY26 Q1FY26 Q2FY25 Q2FY26 Q1FY26 Q2FY25 Q2FY26 Q1FY26 Q2FY25 Subsidiaries Zuari Infra 51.3 27.1 20.9 48.1 21.7 17.9 25.1 (1.5) (3.4) ZIntL 45.8 54.1 110.4 13.0 6.8 17.1 (1.6) (7.7) (3.9) ZMSL 9.5 8.7 9.7 (0.
Slide 30: Path Ahead
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Slide 31: Strategic Priorities
Strategic Priorities Pursuing Strategic Growth Opportunities Scaling Biofuel Capabilities Strengthening the Balance Sheet Leverage digital technologies Nurturing Subsidiaries & Growing Strategic Value
Slide 32: For further information, please contact
For further information, please contact: Zuari Industries Limited (BSE: 500780 | NSE: ZUARIIND) Mr. Yadvinder Goyal +91 124 4827800 Email: ig.zgl@adventz.com Investor Relations Advisors: MUFG Intime India Private Limited Mr. Devansh Dedhia Ms. Darshni Desai +91 99301 47479 +91 99696 15802 devansh.de