Slide 1: Submission of Investor Presentation for Quarter Ended December 31, 2025
(Formerly Known as Gem Aromatics Pvt. Ltd.) Manufacturer & Exporters of Essential Oils & Aromatics Chemicals Registered Office: A/410-411, A-Wing, Kailash Ind. Complex, Powai Vikhroli link Rd, Vikhroli West, Mumbai-400079. Maharashtra, India, Tel No: +91-2225185231/25185931 CIN: L24246MH1997PLC11105
Slide 2: Investor Presentation Q3 & 9MFY26
Investor Presentation Q3 & 9MFY26
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), has been prepared by Gem Aromatics Ltd (the “Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the bas
Slide 4: Table of Contents
Table of Contents Q3 & 9MFY26 Highlights Company Overview Annual Financials 3
Slide 5: Q3 & 9MFY26 Highlights
AROMATICS Q3 & 9MFY26 Highlights Cie GEM
Slide 6: Management Commentary
Management Commentary Yash Vipul Parekh Managing Director and Chief Executive Officer During Q3FY26, the Company commissioned WS 23 & WS 03 cooling agents, along with Clove Oil and Eugenol, at its greenfield Dahej plant, marking an important operational milestone. The total capital expenditure for t
Slide 7: Greenfield Project at Dahej with 10,829 MTPA Capacity
Fueling Future Growth – Greenfield Project at Dahej with 10,829 MTPA Capacity Key Plant Highlights Key Business Update Krystal Ingredients Pvt. Ltd. ✓ Commercial production of WS-23 and WS-03 cooling agents, along with Clove Oil and Eugenol, commenced on 11 December 2025 at the Dahej greenfield faci
Slide 8: Dahej Plant Pictures
|| Dahej Plant Pictures
Slide 9: Improving Margins Amid Demand Normalisation and External Headwinds
Improving Margins Amid Demand Normalisation and External Headwinds Revenue Gross Profit (Rs Cr) & EBITDA (Rs Cr) & PAT (Rs Cr) & Cash PAT (Rs Cr) Margin (%) Margin (%) Margin (%) (Rs Cr) 98 89 84 21% Standalone 18% 10% 14% 9% 19 6% 6% 5% 15 4% 6.6 5.6 6.2 14 9 8 6 5 4 4 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q
Slide 10: Key Business Updates
Key Business Updates Revenue and Market Environment Revenue during Q3FY26 and 9MFY26 was impacted by tariff and GST-related uncertainty, resulting in cautious customer procurement and inventory optimisation. During Q3FY26, demand conditions improved with stabilising blending requirements, recovery i
Slide 11: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Standalone (Rs Cr) Q3FY26 Q3FY25 YoY (%) Q2FY26 QoQ (%) 9MFY26 9MFY25 YoY (%) Net Revenue From Operations 83.9 89.1 -6% 98.4 -15% 258.7 290.7 -11% Cost of Goods Sold 68.5 70.0 84.6 210.4 229.9 Gross Profit 15.4 19.2 -20% 13.8 12% 48.3 60.8 -21% Gross Profit Margin
Slide 12: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Consolidated (Rs Cr) Q3FY26 Q3FY25 YoY (%) Q2FY26 QoQ (%) 9MFY26 9MFY25 YoY (%) Net Revenue From Operations 78.9 96.8 -19% 89.5 -12% 256.1 301.7 -15% Cost of Goods Sold 60.7 71.8 77.0 199.5 229.4 Gross Profit 18.2 25.0 -27% 12.6 45% 56.6 72.4 -22% Gross Profit Ma
Slide 13: Company Overview
AROMATICS Company Overview 6 GEM
Slide 14: A Journey of 3 Decades leading to Growth and Transformation
~A Journey of 3 Decades leading to Growth and Transformation… 1997 2008 2009 2013 2016 2018 Executed the first Introduced a new Received Star Export Commenced production Incorporated our Achieved Rs 1,648 mn in export order vertical – Clove oil House status at Unit II – Badaun, U.P Company and reven
Slide 15: Established Scale with a Strong Market Presence
…Established Scale with a Strong Market Presence • One of the leading Indian manufacturer of specialty ingredients, including essential oils, aroma chemicals, and value-added derivatives. • Company offers a wide range of products across Mint, Clove, Phenol, and other natural and synthetic ingredient
Slide 16: Mint & Mint Derivative – Well Established Business
Mint & Mint Derivative – Well Established Business • Largest business segment with strong customer demand • Widely used in Oral Care, Pharma, Nutraceuticals, Personal Care, Wellness • With a facility in the Budaun mint belt (UP), we benefit from easy, cost-efficient access to quality mint raw materi
Slide 17: Clove & Clove Derivatives – High-Value Segment with Leadership in Eugenol
Clove & Clove Derivatives – High-Value Segment with Leadership in Eugenol • Second-largest Revenue contributor with Strong Margin Profile • One of the largest processors of Clove Oil and Eugenol (by volume in India, FY25) • Used in Flavor, Dental Care, Pharma, Fragrance Applications Products Growth
Slide 18: Entering Advanced Chemistry with Phenol Derivatives
Entering Advanced Chemistry with Phenol Derivatives • Diversified phenolic portfolio serving pharma, antioxidant and fragrance applications. • Sustainable vapor-phase technology ensures high-purity output with near-zero effluent. • Forward-integrated processes enable entry into limited-competition,
Slide 19: Citral Chemistry and Other Natural & Synthetic Ingredients
Citral Chemistry (New Products) and Other Natural & Synthetic Ingredients Natural & Synthetic • Largest processor of Eucalyptus Oil in India with ~58% Citral Chemistry Ingredients market share (FY25)* New Products Entering into High-Value Aroma Molecules • Diversified sourcing of crude eucalyptus &
Slide 20: Focus on Growing Value-Added Products
Focus on Growing Value-Added Products – From Base to Advanced Molecules Category Mother Ingredient/ Base Product Advanced / Specialty Products Industry Peppermint Mint & Mint Spearmint Cooling Agents – 05, WS 03 • Oral Care Derivatives Menthol • Cosmetics Clove & Clove Eugenol • Nutraceuticals Clove
Slide 21: Experienced Promoters and Management Team (1/2)
Experienced Promoters and Management Team…(1/2) Promoters and Directors Vipul Parekh Kaksha Vipul Parekh Yash Vipul Parekh Whole-Time Director Whole-Time Director, Chairperson and CFO Managing Director and Chief Executive Officer • Associated with the company since inception • Associated with the co
Slide 22: Experienced Promoters and Management Team (2/2)
Experienced Promoters and Management Team…(2/2) Non-Executive Director & Independent Directors KMP and SMP Dinesh TV Chief Operating Officer • Associated with the company since inception • M.Sc. in Chemistry from University of Calicut • Over 25 years of experience in plant operations and process opt
Slide 23: Strategically Located Manufacturing Facilities with Advanced Capabilities
Strategically Located Manufacturing Facilities with Advanced Capabilities Dahej Access to Phenol and Excellent Connectivity via Budaun Expressway and Located in India’s Ports. prime Mint Silvassa Facility Budaun Facility Dahej Facility Cultivation Belt. (1997) (2016) (2024) Capacity Capacity Capacit
Slide 24: From India to the World: Strengthening Our Global Presence
From India to the World: Strengthening Our Global Presence Serving 225 domestic and Germany Moldova 44 international customers Bulgaria United across 18 countries Kingdom USA Ireland Netherlands France China Israel Strategic investor Spain Hong Kong and customer Italy Thailand Uganda Nepal Indonesia
Slide 25: Complex Chemistries Process Technology
With Complex and Advanced End-to-End Processes Journey of a Molecule Raw Material Arrival Extraction & Isolation Complex Chemistry In-Action Automated Quality & Analytics Final Formulation & Packaging Quality checked, tracked, and Botanicals and petrochemicals Breakthrough molecules and derivatives
Slide 26: Strong and Robust R&D Capabilities Driving Innovation
Strong and Robust R&D Capabilities Driving Innovation Structured R&D Focus Areas Existing Product Innovation: Portfolio Expansion: Strategic Market Targeting: ✓ Improving yields, selectivity, and process ✓ New molecules, new chemistry, and step ✓ Identifying high-demand products with limited efficie
Slide 27: Annual Financials
Annual Financials AROMATICS
Slide 28: Key Financial and Operating Metrics (1/2)
Key Financial and Operating Metrics (1/2) Revenue from Operations (Rs Cr) EBITDA (Rs Cr) & Margin (%) PAT (Rs Cr) & Margin (%) 504 17.0% 18.0% 453 16.0% 11% 11% 11% 425 89 78 50.1 53.4 66 44.7 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 EBITDA EBITDA Margin PAT PAT Margin Debt (Rs Cr) Capex (Rs Cr)
Slide 29: Key Financial and Operating Metrics (2/2)
Key Financial and Operating Metrics (2/2) No. of Countries Present In Number of Customers 308 18 246 269 51 44 17 47 16 257 225 199 FY23 FY24 FY25 FY23 FY24 FY25 Domestic International Total Contribution from Top 10 Customers (%) Repeat Customers Revenue (%) 87 94 77 66 52 56 FY23 FY24 FY25 FY23 FY2
Slide 30: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Consolidated (Rs Cr) FY23 FY24 FY25 CAGR Net Revenue From Operations 424.8 452.5 504.0 8.9% Cost Of Goods Sold 317.4 341.2 375.9 Gross Profit 107.4 111.3 128.0 9.2% Gross Profit Margin (%) 25.3% 24.6% 25.4% Employee Expenses 10.8 11.1 12.8 Other Expenses 30.4 21.
Slide 31: Consolidated Balance Sheet
Consolidated Balance Sheet Liabilities (Rs Cr) Mar-23 Mar-24 Mar-25 Sept-25 Assets (Rs Cr) Mar-23 Mar-24 Mar-25 Sept-25 Property, Plant & Equipment Share Capital 1.8 9.4 9.4 10.4 26.4 40.3 43.4 206.2 and Intangible Assets Reserves & Surplus 177.7 221.2 274.6 444.8 Capital Works-in-Progress 10.9 30.4
Slide 32: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs Cr) FY23 FY24 FY25 H1FY26 Net Profit Before Tax and Extraordinary Items 56.1 67.6 74.7 8.3 Adjustments for: Non-Cash Items / Other Investment or 15.8 10.4 15.3 15.0 Financial Items Operating Profit Before Working Capital Changes 71.9 78.0 90.0 23.3 Ch
Slide 33: Stock Information & Shareholding Pattern
Stock Information & Shareholding Pattern Capital Market Information (as on 27th January 2026) Shareholding Pattern (as on 31st December 2025) BSE/NSE Code 544491/ GEMAROMA Public Promoters 39.6% 55.1% CMP (Rs) 151.00 Market Cap (Rs Cr) 788.78 Shares (Cr) 5.22 DII's 4.6% FII's Face Value (Rs) 2 0.8%
Slide 34: Thank You
Thank You Gem Aromatics Ltd Stellar IR Advisors Pvt. Ltd. CIN No. L24246MH1997PLC111057 Akshita Gohil Akhilesh Gandhi, CFA | akhilesh@stellar-ir.com secretarial@gemaromatics.in Omkar Sawant| omkar@stellar-ir.com Phone: 9322121990 | 022 25185231 Phone: 022 62398024 www.gemaromatics.com www.stellar-ir