Navin Fluorine International Limited · NSE:NAVINFLUOR

Navin Fluorine International — Morgan Stanley India Investment Forum 2023

35 slides from Navin Fluorine International's conference presentation, Jun 5, 2023

1. Slide 1: Intimation of Schedule of Analyst / Institutional Investor Meets

   June 05, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Bandra (East), Mumbai 400001 Mumbai 400051 Scrip Code: 532504 Symbol: NAVINFLUOR EQ Dear Sir/Madam, Subject: Intimation of Schedule of Analyst / Ins

2. Slide 2: Navin Fluorine 2023

   ... PADMANABH ~( •JI MAFATLAL J~ I GROUP Navin Fluorine ˜‡•–‘””‡•‡–ƒ–‹‘Ǧ ƒ›ʹͲʹ͵

3. Slide 3: Disclaimer

   ƒˆ‡ ƒ”„‘” ~I J~ •ill PADMANABH MAFATLAL GROUP Š‹• ’”‡•‡–ƒ–‹‘ ƒ† –Š‡ ƒ ‘’ƒ›‹‰ •Ž‹†‡• ȋ–Š‡ DzPresentation”), which have been prepared by Navin Fluorine International Limited ȋ–Š‡ DzCompany”), have been prepared solely for information purposes and do not constitute any offer, recommendation or ‹˜‹

4. Slide 4: •ill

   ~I J~ •ill PADMANABH MAFATLAL GROUP ͶƬ ʹ͵ ‡ ‘”† ‡”ˆ‘”ƒ ‡

5. Slide 5: Milestones Achieved

   PADMANABH ‡™Milestones Achieved MAFATLAL GROUP ƒŽ‡• ”‘••‡† ’‡”ƒ–‹‰ ”‘••‡† ’‡”ƒ–‹‰ ƒ”‰‹ ʹ͵ •ǤʹͲͲͲ”• •ǤͷͷͲ”• ʹ͸ǤͷΨ ‡˜‡—‡ ”‘™–ŠȋǦ‘ǦȌ Speciality HPP CDMO + 31% + 64% + 29% • Consolidated Financials

6. Slide 6: Record Performance Q4FY23

   —ƒ”–‡”‘ˆRecord Performance N ·iH 1 PADMANABH MAFATLAL GROUP ’‡”ƒ–‹‰‡˜‡—‡ +70% Rs. 697 crores ƒ”‰‹•”‘ˆ‹Ž‡ ’‡”ƒ–‹‰ ȗ’‡”ƒ–‹‰ 28.9% 25.8% ‘ ‹‰ŠŽ‹‰Š–• ‘•‘Ž‹†ƒ–‡† ’‡”ƒ–‹‰ +589 Bps +586 Bps + 114% Ͷ ʹ͵ Rs. 202 crores 9 Highest Quarterly Revenue & Profitability 9 All the businesses contributed to gro

7. Slide 7: Record Performance FY23

   ‡ƒ”‘ˆRecord Performance N ·iH 1 PADMANABH MAFATLAL GROUP ’‡”ƒ–‹‰‡˜‡—‡ + 43% Rs. 2077 crores ƒ”‰‹•”‘ˆ‹Ž‡ ’‡”ƒ–‹‰ ȗ’‡”ƒ–‹‰ 26.5% 22.2 % ‘ ‹‰ŠŽ‹‰Š–• ‘•‘Ž‹†ƒ–‡† ’‡”ƒ–‹‰ +207 Bps + 116 Bps + 55% Rs. 550 crores ʹ͵ 9 Highest Annual Revenue & Profitability 9 Three of our plants i.e. HPP, MPP and ’‡”ƒ

8. Slide 8: Businesses

   –”‘‰‡”ˆ‘”ƒ ‡ƒ ”‘••ƒŽŽBusinesses ~I J~ •ill PADMANABH MAFATLAL GROUP ’‡ ‹ƒŽ–› (Rs. Crs) +28% +92% +106% ʹͲͶ ʹͺͻ ʹͲ͵ Ͷ ʹ͵ ͳͷͻ ͳͷͳ ͻͻ Ͷ ʹʹ Ͷ ʹ͵ Ͷ ʹʹ Ͷ ʹ͵ Ͷ ʹʹ Ͷ ʹ͵ 64% +29% +31% ͺͺ͸ ͶͶͺ ͹Ͷ͵ ʹ͵ ͵Ͷ͹ ͷ͸͸ ͷͶͲ ʹʹ ʹ͵ ʹʹ ʹ͵ ʹʹ ʹ͵ * Consolidated Financials 7

9. Slide 9: Specialty Chemicals

   —•‹‡••‡”–‹ ƒŽǦ Specialty Chemicals N ·iH 1 PADMANABH MAFATLAL GROUP Revenues (Rs. Crs) Q4FY23 Highlights V - y -- - - - - - +28% ʹͲͶ ‡™ ’”‘†— – ‹–”‘†— –‹‘• ‘–”‹„—–‡† •‹‰‹ˆ‹ ƒ–Ž› ‹ ͳͷͻ Ͷ ʹ͵ ‰”‘ Š‡‹ ƒŽ –‡”‡†‹ƒ–‡ ’Žƒ– ƒ Š‹‡˜‡† ‘’–‹ƒŽ ƒ’ƒ ‹–› —–‹Ž‹œƒ–‹‘ Ͷ ʹʹ Ͷ ʹ͵ ‡™ ƒ’‡š ’”‘‰”‡••‹‰ ‘ • Š‡

10. Slide 10: HPP

    —•‹‡••‡”–‹ ƒŽǦ HPP N ·iH1 PADMANABH MAFATLAL GROUP Revenues (Rs. Crs) Q4FY23 Highlights V - y -- - - - - - +92% ƒŽ‡• ™‡”‡ Š‹‰Š‡” ’”‹ƒ”‹Ž› ‘ ƒ ‘—– ‘ˆ ‹ ”‡ƒ•‡† ʹͺͻ ˜‘Ž—‡• ˆ”‘ ‡™ ’”‘†— – ƒ† „‡––‡” ’”‹ ‡ ”‡ƒŽ‹œƒ–‹‘ ͳͷͳ ‹‰Š‡” •Šƒ”‡ ‘ˆ ‡š’‘”–• †—‡ –‘ •ƒŽ‡• –‘ ‘‡›™‡ŽŽ ‘’ƒ”‡† –‘ Ͷ ʹʹ Ͷ ʹʹ Ͷ ʹ͵ ‘

11. Slide 11: CDMO

    —•‹‡••‡”–‹ ƒŽǦ CDMO N ·iH 1 PADMANABH MAFATLAL GROUP Revenues (Rs. Crs) Q4FY23 Highlights V - y -- - - - - - +106% ‡˜‡—‡• †‘—„Ž‡† ‹ Ͷ ʹ͵Ǣ ‡š ‡‡†‡† –Š‡ •–ƒ–‡† ʹͲ͵ ‰—‹†ƒ ‡ ͻͻ , Ǧ Ǧ͵ ƒ—ˆƒ –—”‹‰ „Ž‘  ‘‹••‹‘‡† ’‘•– †‡„‘––Ž‡‡ ‹‰ Ͷ ʹʹ Ͷ ʹ͵ —•‹‡•• ‘ •–”‘‰ ˆ‘‘–‹‰ ƒ† ’”‹‡† ˆ‘” ˆ—”–Š‡” ƒ’ƒ

12. Slide 12: Robust Dividend Payout

    ‘•‹•–‡–‹˜‹†‡†‡”ˆ‘”ƒ ‡ ~I J~ •ill PADMANAB H MAFATLAL GROUP Dividend as % of Face Value Robust Dividend Payout • • Final Interim 600% - 9 ‘–‹—‘—• ‹˜‹†‡† ‘˜‡” ͳ͵ ›‡ƒ”• Special Dividend of 150% -550% - 550% - 550% 9 ’‡ ‹ƒŽ ‹˜‹†‡† ‘ˆ ͸ͲͲΨ ‘ ‘ˆ •Ǥ ͳͲ ‹ ͳʹ + 150% Special 350% Dividend of 390% 9

13. Slide 13: •ill

    ~I J~ •ill PADMANABH MAFATLAL GROUP ‹ƒ ‹ƒŽ ‡”ˆ‘”ƒ ‡

14. Slide 14: Consolidated Profit and Loss

    ‘•‘Ž‹†ƒ–‡†”‘ˆ‹–ƒ„‹Ž‹–›–ƒ–‡‡– ~I J~ •ill PADMANABH MAFATLAL GROUP Particulars (Rs. Crs.) Q4 FY23 Q4 FY22 Y-o-Y Q3 FY23 Q-o-Q FY23 FY22 Y-o-Y Net Revenue from Operations 697.1 408.9 70% 563.6 24% 2,077.4 1453.4 43% Raw Material 283.7 196.7 246.4 896.0 665.6 Employee Expenses 73.0 47.3 68.6 249.4 18

15. Slide 15: Consolidated Balance Sheet

    PADMANABH ‘•‘Ž‹†ƒ–‡†ƒŽƒ ‡Š‡‡– MAFATLAL GROUP ASSETS (Rs. Crs.) 31-Mar-23 31-Mar-22 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-23 31-Mar-22 Non-current assets 2063.1 1,366.2 EQUITY 2185.0 1844.2 Property, Plant and Equipment 1471.8 377.5 Equity Share Capital 9.9 9.9 Capital work-in-progress 278.6 742

16. Slide 16: Consolidated Cash Flow

    ‘•‘Ž‹†ƒ–‡†ƒ•ŠˆŽ‘™–ƒ–‡‡– ~I J~ •ill PADMANABH MAFATLAL GROUP Particulars (Rs Crs.) 31-Mar-23 31-Mar-22 (A) Cash flow from operating activities Profit before tax 495.9 344.2 Adjustments for noncash items 81.1 19.0 Operating profit before working capital changes 576.9 363.2 Working capital adjustmen

17. Slide 17: Standalone Profit and Loss

    –ƒ†ƒŽ‘‡”‘ˆ‹–ƒ„‹Ž‹–›–ƒ–‡‡– ~I J~ •ill PADMANABH MAFATLAL GROUP Particulars (Rs. Crs.) Q4 FY23 Q4 FY22 Y-o-Y Q3 FY23 Q-o-Q FY23 FY22 Y-o-Y Net Revenue from Operations 451.4 398.4 13% 423.5 7% 1,628.1 1,403.6 16% Raw Material 186.6 189.9 191.2 715.3 638.3 Employee Expenses 56.2 39.4 55.9 203.0 153.

18. Slide 18: Standalone Balance Sheet

    PADMANABH –ƒ†ƒŽ‘‡ƒŽƒ ‡Š‡‡– MAFATLAL GROUP ASSETS (Rs. Crs.) 31-Mar-23 31-Mar-22 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-23 31-Mar-22 Non-current assets 1380.7 1,023.5 EQUITY 2141.0 1864.2 Property, Plant and Equipment 414.7 372.9 Equity Share Capital 9.9 9.9 Capital work-in-progress 153.6 25.9 O

19. Slide 19: Standalone Cash Flow

    –ƒ†ƒŽ‘‡ƒ•ŠˆŽ‘™–ƒ–‡‡– ~I J~ •ill PADMANABH MAFATLAL GROUP Particulars (Rs Crs.) 31-Mar-23 31-Mar-22 (A) Cash flow from operating activities Profit before tax 418.2 347.0 Adjustments for noncash items 30.7 17.0 Operating profit before working capital changes 448.9 364.0 Working capital adjustments

20. Slide 20: •ill

    ~I J~ •ill PADMANABH MAFATLAL GROUP ƒ˜‹ Ž—‘”‹‡

21. Slide 21: Navin Fluorine

    Navin Fluorine ƒ–‰Žƒ ‡ ~I J~ •ill PADMANABH MAFATLAL GROUP ƒ—ˆƒ –—”‹‰ plants strategically located Ž‘•‡” –‘ ƒŒ‘” ’‘”–• Strong global partners ‹ Ž—†‹‰ ’Šƒ”ƒ ƒ† ‰”‘ ‘˜ƒ–‘”• ~ ‡ ‘ˆ Largest Integrated Specialty Fluorochemical c‘’ƒ› ‹ †‹ƒ ˜‡”50 years ‘ˆ‡š’‡”–‹•‡‹ ƒ†Ž‹‰ Ž—‘”‹‡ __ ,___,

22. Slide 22: Integrated manufacturing facilities

    Integrated —•‹‡••‘†‡Ž ~I J~ •ill PADMANABH MAFATLAL GROUP • Š‡‹ ƒŽ ‘’Ž‡š ƒ– Surat •’”‡ƒ† ‘˜‡” 135 • ƒ ™ƒ”†‹–‡‰”ƒ–‹‘ˆ‘”ƒ™ƒ–‡”‹ƒŽ acresǡ Š‘—•‡• ‡ˆ”‹‰‡”ƒ–ǡ ‘”‰ƒ‹ Ƭ –Š”‘—‰Š25% JV partner ‹–Š‡‘Ž› ’‡ ‹ƒŽ–› Š‡‹ ƒŽ• Žƒ–• Ž—‘”•’ƒ”„‡‡ˆ‹ ‹ƒ–‹‘ ‘’ƒ›‹ †‹ƒ • cGMP Compliant facility ˆ‘” ‹ • Di

23. Slide 23: Delivery

    —”Delivery ~I J~ •ill PADMANABH MAFATLAL GROUP Revenues (Rs. Crs) ‡˜‡—‡‘–”‹„—–‹‘ȋΨȌ ʹͲͳͳ ʹͲʹ͵ ʹǡͲ͹͹ ‘‡ ‡†Specialty ’‡ ‹ƒŽ‹–›Š‡‹ ƒŽ• 27% 36% 14% Chemicals ‹ʹͲͲͲ ͳʹ Ͷ͵ͳ I I ͳͳ ʹ͵ Inorganic Fluorides & Refrigerants (HPP) 73% 43% Net Profit (Rs. Crs) ƒ”‡–”ƒ†‹–‹‘ƒŽ„—•‹‡•• •‹ ‡ͳͻ͸͹ ͵͹ͷ 15% ‘‡

24. Slide 24: Delivering on the 3P Strategy through New Capex Programs

    PADMANABH ‡‹ˆ‘” ‡‡–‘ˆTrust MAFATLAL GROUP • ! Delivering on the 3P Strategy (Product, Platform and Partnerships) through New Capex Programs ̈́ͶͳͲ  —Ž–‹ ‡ƒ” ‘–”ƒ – ‹ High ‡‰‹‹‰ ‘ˆ New Partnership ‹ ƒ‰”‘ Š‡‹ ƒŽ• Performance Product (HPP) „ƒ ‡† „› —Ž–‹ ›‡ƒ” •—’’Ž› ‘–”ƒ – ƒ— Š ‘ˆ ‡™ ’”‘†—

25. Slide 25: HPP Manufacturing Plant

    PADMANABH HPP Manufacturing Plant ‹ƒ—‰—”ƒ–‡† MAFATLAL GROUP —Œƒ”ƒ– ƒ† ‘‡›™‡ŽŽ ‹ƒ—‰—”ƒ–‡† ƒ—ˆƒ –—”‹‰ ’Žƒ– ‘ˆ Ǥ ƒ˜‹ Ž—‘”‹‡ Šƒ† ‡–‡”‡† ‹–‘ ̈́ͶͳͲ ‹ŽŽ‹‘ ‘–”ƒ – ™‹–Š ‘‡›™‡ŽŽ –‡”ƒ–‹‘ƒŽ  Ǥ ˆ‘” ƒ—ˆƒ –—”‡ ƒ† •—’’Ž› ‘ˆ ƒ ‹‰ŠǦ‡”ˆ‘”ƒ ‡ ”‘†— – ȋ Ȍ ‹ –Š‡ ˆŽ—‘”‘ Š‡‹ ƒŽ •’ƒ ‡ ƒ’‡šˆ—†‡† ‘›ƒ

26. Slide 26: Journey of Transformation continues

    Core Business –”ƒ–‡‰› ~I J~ •ill PADMANABH MAFATLAL GROUP ƒŽ—ƒ„Ž‡ƒ† ”‡•‡ ‡‹–‘ ‹‰ŠǦ —•–‘‡”ǯ• Ž‡ƒ” ‡’‡†ƒ„Ž‡ †‡ƒ†•’‡ ‹ƒŽ‹œ‡† Š‘‹ ‡Ǧ –”‘‰’‹ŽŽƒ” Ž—‘”‘ Š‡‹ ƒŽ ’”‘†— –„ƒ•‡– ‘ˆƒ”–‡”•Š‹’ ‘’ƒ› Increase share of Ƭ Innovation & Change growth Investment In MPP (Multi ’‡ ‹ƒŽ–› ™Š‹ Š ‘™ Ǧ ‘˜‹‰ ‹–‘

27. Slide 27: •ill

    ~I J~ •ill PADMANABH MAFATLAL GROUP ”‡’”‡•‡–• –Š‡ ‘”‡”•–‘‡ ‘ˆ‘—”„—•‹‡••

28. Slide 28: Sustainability

    —”’’”‘ƒ Š–‘Sustainability ~I J~ •ill PADMANABH MAFATLAL GROUP Approach Environment Social Governance 9 ‘„—•– –‡”ƒŽ‘–”‘Ž• 9 ’Ž‘›‡‡• 9 ‘–”‘ŽŽ‡† ”‘™–Š 9 —‹Ž†‹‰”‡•‹Ž‹‡ ‡–‘™ƒ”†• 9 —•–‘‡”ƒ†‡†‘”• 9 ƒŽƒ ‡†’’”‘ƒ Š Ž‹ƒ–‡ Šƒ‰‡ 9 ‘—‹–› 9 ‘ƒ”†‘ˆ‹”‡ –‘”• 9 ‡†— ‡‘—”‹’ƒ –‘ ‡˜‹”‘‡–ƒ†ƒ–—”‡ 9 ”

29. Slide 29: Environmental

    Environmental ‘‹–‡– ~I J~ •ill PADMANABH MAFATLAL GROUP Systems driven Minimising carbon footprint Audit discipline Environment Approach ‘–‹—‡• –‘ ‹˜‡•– ‹ ‡˜‹”‘‡–ƒŽ ‘‹––‡† –‘ ’”‘‰”‡••‹˜‡Ž› ”‡†— ‡ ††”‡••‡† –Š‡ •—„Œ‡ – –Š”‘—‰Š ƒ ƒƒ‰‡‡– •›•–‡•ǡ ‘—’Ž‡† ™‹–Š ‡‡”‰› ƒ† ‰”‡‡Š‘—•‡ ‡‹••

30. Slide 30: Social

    Social ”‘‰”ƒ‡ ~I J~ •ill PADMANABH MAFATLAL GROUP Social Programme Social Approach 9 ‡ —”‡† –Š‡ ‹–‡‰”‹–› ‘ˆ ’”‘ ‡••‡• ƒ† 9 •—”‡† ‡’Ž‘›‡‡ ƒ† ‘–”ƒ –‘” ™‘”‡”•ǯ ’”ƒ –‹ ‡• –Š”‘—‰Š ƒ ‘„ ƒœƒ”† ƒŽ›•‹• Š‡ƒŽ–Š ƒ† Š›‰‹‡‡Ǣ ™‹–Š ’‡”‹‘†‹ ƒŽ Š‡ƒŽ–Š Ǯǯ ‘’”‹•‡•–Š‡”‘Ž‡‘ˆ ‘—’Ž‡† ™‹–Š –ƒ†ƒ”† ’‡”ƒ–‹‰ ”‘ ‡

31. Slide 31: Governance

    Governance ‡•–”ƒ –‹ ‡ ~I J~ •ill PADMANABH MAFATLAL GROUP Governance Programme Composition of Committees —– ‘ˆ ˆ‘—” ‡„‡”• ‘ˆ Nomination Reported NO 0 –”— –—”‡†’‘Ž‹ ‹‡•ƒ†’”‘ ‡••‡• ƒ††”‡••‡†‹˜‡•–‘”‰”‹‡˜ƒ ‡• and Remuneration Committeeǡ –Š”‡‡ ƒ”‡ †‡’‡†‡– ƒ† ‘‡ ‘Ǧ š‡ —–‹˜‡ 9 ‡ˆƒ—Ž–•ˆ‘””‡’ƒ›‡–

32. Slide 32: Board of Directors

    Diversity ‘ˆ–Š‘—‰Š–ƒ†‡š’‡”‹‡ ‡ ~I J~ •ill PADMANABH MAFATLAL GROUP Mr. Vishad P. Mafatlal Mr. Mohan M. Nambiar Mr. Pradip N. Kapadia Mr. Sunil S. Lalbhai Chairman Non-Executive Non-Independent Director Independent Director Independent Director ‡ ‹• ƒ ‹†—•–”‹ƒŽ‹•– Šƒ˜‹‰ ˜ƒ”‹‡† ‡ Šƒ• ƒ ˜ƒ•– ‡š’‡”

33. Slide 33: Balanced Board

    Balanced Board ™‹–Šš’‡”‹‡ ‡ƒ†š’‡”–‹•‡ ~ [ °'l 1 r •~ PADMANABH MAFATLAL GROUP Board Demographics meetings Board Independence during Highly FY2023 engaged ..................... 9 of 12 ..:················17 :: Board ... Directors ƒ –‹˜‡Ž›‹˜‘Ž˜‡†‹NFIL’s ... 75% are Board Committee :: strategic tra

34. Slide 34: Societal Goals

    ‡‡’‡”‡•’‡ –ˆ‘” ‘–”‹„—–‹‘–‘Societal Goals ~I J~ •ill PADMANABH MAFATLAL 6.15 Crores ‘–ƒŽ‡š’‡†‹–—”‡ˆ‘”–Š‡›‡ƒ”‡†‡†ƒ” Š͵ͳǡʹͲʹ͵ ‘— Š‡†ƒ†‹’”‘˜‡†‘”‡–Šƒͳ͹ǡͲͲͲŽ‹˜‡•–Š”‘—‰Š ‘—‹–› -1111 GROUP Š‡ ‘’ƒ› ‘–”‹„—–‡† –‘ –Š‡ ‘ ‹‡–› ˆ‘” ‡Šƒ„‹Ž‹–ƒ–‹‘ ‘ˆ ”‹’’Ž‡† Š‹Ž†”‡ ˆ‘” •—’’‘”–‹‰ ‡ ‘‘‹ ƒŽŽ› ŠƒŽŽ‡‰

35. Slide 35: Thank You

    Thank You ‘–‡ ill ~[ I • J~ PADMANABH MAFATLAL GROUP For further information, please contact: Company : Investor Relations Advisors : ~I I • l~ ill PA DMANABH MAFATLAL GROUP orient capital Navin Fluorine International Ltd. Orient Capital ȋƒ†‹˜‹•‹‘‘ˆ‹ ”‘—’Ȍ ǣʹͶͳͳͲ ͳͻͻͺͳͳͷͶͻͻ Ms. Payal Dave Ϊͻͳͻͺͳͻ

Navin Fluorine International — Morgan Stanley India Investment Forum 2023 on 6ix