Kiri Industries Limited · NSE:KIRIINDUS
Kiri Industries — Investor Presentation (March 2026)
39 slides from Kiri Industries's investor presentation, Mar 20, 2026
Slide 1: Cover letter to stock exchanges on revised investor presentation
March 20, 2026 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai- 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 532967 Scrip ID - KIRIINDUS Dear Sir/Madam, Sub: Submission of Revised Investor Presenta
Slide 2: Investor Presentation March 2026
INVESTOR PRESENTATION March 2026
Slide 3: Kiri Industries: Entering a New Phase of Industrial Growth
Kiri Industries: Entering a New Phase of Industrial Growth Beginning of a New Strategic Phase Successful Resolution of the DyStar Matter With the DyStar matter now concluded, the Company After a prolonged legal process, the dispute relating is entering a new phase focused on long-term growth to the
Slide 4: Company Overview
Company Overview —
Slide 5: Company Overview
Company Overview • Established in 1998, Kiri Industries Limited (KIL) is headquartered in Gujarat and is one of the leading manufacturers and exporters of dyes, dye intermediates, and basic chemicals from India. Consolidated Revenue Break-up (INR Mn) • The Company operates a vertically integrated ma
Slide 6: Key Milestones
Key Milestones Successfully completed JV Completed Project. expansion of Successfully Intermediate completed Project and KIL became the SICC Exit from installation Started of basic largest VS awarded DyStar, after 11 Started Backward chemical plant manufacturer in Successfully value of years of lega
Slide 7: Board of Directors
Board of Directors Manish Kiri (Managing Director & Chairman) • He has a Bachelors of Engineering (Electronics & Communication) from Gujarat University and a Master’s Degree in Business Management from Wayne State University, USA. • Mr. Manish Kiri is the Founder Promoter, Chairman & Managing Direct
Slide 8: Awards and Accolades
Awards and Accolades Award for Direct Platinum Award Trishul Award First Award for Direct First Award for Direct Outstanding Chemexcil Entrepreneur Export of Self for Small Scale for Small Scale Gold Award Export of Self Export of Self Manufactured Dyes Sector Sector Manufactured Dyes Manufactured D
Slide 9: Copper and Fertilizer Business
Copper and Fertilizer Business
Slide 10: Evolving Beyond Specialty Chemicals
Evolving Beyond Specialty Chemicals Established Specialty Strategic Turning Point Next Phase of Growth Chemicals Platform • Successful resolution of the • Strategic diversification • Over two decades of DyStar matter removes a into copper smelting and experience in specialty long-standing overhang f
Slide 11: Copper: Structural Demand & Supply Opportunity
Copper: Structural Demand & Supply Opportunity Structural Demand Growth Energy Transition & Digital Demand • Copper is essential for power transmission, renewable energy, electric • Renewable energy (solar, wind, grid infrastructure) is highly copper- vehicles, and industrial infrastructure intensiv
Slide 12: Why Copper: A Strategic Rationale
Why Copper: A Strategic Rationale Raw Material Security • Long-term sourcing from global mining regions South America (Chile and Peru), Australia the Democratic Republic of Congo • Strong engagement with miners and traders for concentrate supply • Diversified sourcing ensures supply reliability Inte
Slide 13: Indo Asia Copper and IndoAsia Agrotech Fertilizers - Strategic Subsidiaries
Indo Asia Copper Limited IndoAsia Agrotech Fertilizers Limited- Strategic Subsidiaries • Indo Asia Copper Limited(IACL) and IndoAsia Agrotech Fertilizers Limited • Diversifies Kiri Industries into the copper and fertilizer value chain. (IAFL) are wholly owned subsidiaries established to develop an i
Slide 14: Strategic Management Team
Strategic Management Team Mr. Ranjit Singh Chugh, Chief Executive Officer CA Nesal Shah, Chief Financial Officer Mr. Ranjit Singh Chugh holds a Bachelor of Technology in Chemical Engineering from the National CA Nesal Shah is a Chartered Accountant and a Registered Insolvency Resolution Professional
Slide 15: Strategic Plant Location – Jafrabad, Amreli Gujarat
Strategic Plant Location – Jafrabad, Amreli Gujarat • The project is located in Jafrabad, Amreli district (Gujarat), near the western coastline of India, providing direct access to global maritime trade routes. • Close proximity to Pipavav Port enables efficient import of copper concentrate, the pri
Slide 16: Copper Project Overview
Copper Project Overview • Establishing an integrated copper smelting and refining facility • Processing imported copper concentrate and copper scrap into refined copper products. • Manufacturing copper cathodes and continuous cast copper rods and copper tubes. • Supplying copper products for power c
Slide 17: Copper and Fertilizer Business Value Chain
Copper and Fertilizer Business Value Chain Copper Copper Copper Smelting Refining CCR Rod Sale Concentrate Anode Cathode Copper Rods Copper Scrap Copper Cathode Sale Melting Furnace Sale Sulphuric Acid Anode Slime Selenium, Bismuth and PGM Phosphoric Rock Phosphate Precious Metal Acid Plant Refinery
Slide 18: Integrated Fertilizer Project
Integrated Fertilizer Project • Sulphur dioxide generated during copper smelting will be converted into sulfuric acid • Sulfuric acid will be utilized for the production of phosphatic fertilizers • Establishing an integrated fertilizer facility to support India’s agricultural demand • Efficient by-p
Slide 19: Copper and Fertilizer Project Progress Update
Copper and Fertilizer Project Progress Update Project Update • Environmental Clearance obtained from the Ministry of Environment, Forest and Climate Change in November 2024. • Land acquisition is substantially completed, and the remaining parcels are in advanced stages. • Site development activities
Slide 20: Copper and Fertilizer Project Progress Images
Copper and Fertilizer Project Progress Images Images of latest plant Images of latest plant 19
Slide 21: Chemical Business
Chemical Business sc CCUM eee
Slide 22: Business and Product Mix
Business and Product Mix 2 3 Oleum Chloro 1 65% & Sulphonic 4 23% Acid Sulphuric Thionyl Acid Chloride Other 5 Speciality Dyes Intermediates Basic Chemicals Intermediates 14% 52% Vinyl 6 Basic Chemicals Dye Intermediates Dyestuff Sulphone Production of key Manufacturing of Wide range of industrial c
Slide 23: Basic Chemicals
Basic Chemicals • The Company manufactures key basic chemicals including Sulphuric Acid, Oleum, Chloro Sulphonic Acid and Thionyl Chloride. • These products are produced in an integrated manufacturing facility using sulphur as the primary raw material. • The chemicals are primarily used as inputs fo
Slide 24: Dyes Intermediates
Dyes Intermediates • Dyes intermediates are key raw materials used in the manufacturing of dyes, forming the backbone of the dye value chain. • The Company manufactures important intermediates such as H-Acid, Vinyl Sulphone and other compounds. • Intermediates are produced from petrochemical-based f
Slide 25: Dyes
Dyes • Manufactures a wide range of Reactive, Acid, Direct and Disperse dyes catering to diverse industrial applications. • Products are primarily used across textiles, leather, paper, carpets, home furnishings and industrial fabrics. • The Company focuses largely on Reactive dyes, one of the most w
Slide 26: Key Strengths
Key Strengths • High entry barriers due to a stringent process of acquiring new permissions. • Heavy capital expenditure. Entry Barrier • Strict implementation of environmental and pollution norms. • The Company established a track record of Competitive long-term relationship with key global Positio
Slide 27: Manufacturing Process
Manufacturing Process Key Inputs Ice Napthalene Sulphur Sodium Nitrate Soda Ash Water Aniline Caustic Soda Chlorine Sulphur & Bulk Para Nitro Chloro Oleum 65% Sodium Bi Thionyl Chemicals Beta-Nepthol Sulphuric Acid Acetanilide MPD Aniline Sulphonic Acid Oleum 23% Sulphate Chloride Division Vinyl Sul
Slide 28: Manufacturing Facilities
Manufacturing Facilities Unit I, Unit II & IV Unit V Location: Ahmedabad, India. Capacity Installed: Location: Vadodara, India. i. Sulphuric Acid – 280 TPD • Reactive Dyes : 36,000 MTPA ii. Oleum – 23% – 50 TPD Products manufactured: Products manufactured: • Disperse Dyes: 8,000 MTPA iii. Oleum – 65
Slide 29: Geographical Presence
Geographical Presence AHMEDABAD THE NETHERLANDS VADODARA Canada UK CZECH REPUBLIC BELGIUM SPAIN HUNGARY ITALY UZBEKISTAN KOREA USA PORTUGAL GREECE TURKEY CHINA PAKISTAN LEBANON TUNISIA NEPAL ISRAEL BANGLADESH TAIWAN INDIA EGYPT UAE HONG KONG EL SALVADOR THAILAND HONDURAS PHILIPPINES MALAYSIA COLOMBI
Slide 30: Future Outlook for Chemical Business
Future Outlook for Chemical Business U.S. tariffs on Indian dye and chemical exports were sharply raised in 2025, creating The Company remains cautiously optimistic for uncertainty, but a new interim trade framework FY27 prioritizing operational stability, in early 2026 reduced key duties (to 18%),
Slide 31: Financial Overview
FINANCIAL OVERVIEW
Slide 32: Historical Standalone Income Statement
Historical Standalone Income Statement PARTICULARS (INR Mn) FY23 FY24 FY25 9M-FY26 Revenue from Operations 6,015 6,334 6,556 5,370 Total Expenses 7,106 6,967 6,993 6,153 EBITDA (1,091) (633) (437) (783) EBITDA Margins (%) NA NA NA NA Other Income 234 366 1,053 1,433 Depreciation 441 442 445 348 Fina
Slide 33: Historical Standalone Balance Sheet
Historical Standalone Balance Sheet PARTICULARS (INR Mn) FY24 FY25 H1-FY26 PARTICULARS (INR Mn) FY24 FY25 H1-FY26 Equity 3,971 7,203 7,856 Non Current Assets 7,391 7,930 7,711 Equity Share Capital 518 556 600 a) Property, Plant and Equipment 4,369 4,715 4,624 Other Equity 3,453 6,647 7,256 b) Right
Slide 34: Historical Consolidated Income Statement
Historical Consolidated Income Statement PARTICULARS (INR Mn) FY23 FY24 FY25 9M-FY26 Revenue from Operations 6,679 7,086 7,400 5,891 Total Expenses 7,743 7,681 7,940 6,676 EBITDA (1,064) (595) (540) (785) EBITDA Margins (%) NA NA NA NA Other Income 234 366 1,149 1,373 Depreciation 455 456 445 351 Fi
Slide 35: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet PARTICULARS (INR Mn) FY24 FY25 H1-FY26 PARTICULARS (INR Mn) FY24 FY24 H1-FY26 Equity 27,837 32,466 32,792 Non Current Assets 31,286 40,397 45,570 Equity Share Capital 518 556 600 a) Property, Plant and Equipment 4,369 8,047 8,862 Other Equity 27,319 31,910 32,19
Slide 36: Consolidated Financial Highlights
Consolidated Financial Highlights Operational Revenue (INR Mn) EBITDA (INR Mn)* &EBITDA Margins (%)* PAT (INR Mn)* & PAT Margins (%)* 7,086 7,400 6,679 48,809 5,891 828.54% FY23 FY24 FY25 9M-FY26 (7.30)% (13.33)% (8.40)% (15.93)% (595) (540) (785) FY23 FY24 FY25 9M-FY26 (19.93)% (12.88)% (14.65)% (1
Slide 37: Capital Market Data
Capital Market Data Share Price up to 31st December, 2025 20% 15% 10% 5% 0% -5% -10% -15% -20% -25% Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Kiri Sensex Price Data (As on 31st December 2025) INR Shareholding Pattern (As on 31st December 2025) Face Value 10.
Slide 38: Disclaimer
Disclaimer Kiri Industries Limited Disclaimer: The information contained in this presentation is only current as of its date. All actions and statements made herein or otherwise shall be subject to the applicable laws and regulations as amended from time to time. There is no representation that all
Slide 39: Thank You
THANK YOU