PAST, PRESENT AND FUTURE. DISCLAIMER This presentation and the - - PowerPoint PPT Presentation

SLIDE 1

PAST, PRESENT AND FUTURE.

SLIDE 2

DISCLAIMER

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Century Plyboards (I) Ltd. (the “Company”), have been prepared 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 basis or be relied on in connection with any contract or binding commitment whatsoever. No

• ffering of securities of the Company will be made except by means of a statutory
• ffering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this

• Presentation. This Presentation may not be all inclusive and may not contain all of

the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.

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CONTENTS

A BRIEF HISTORY OF CENTURYPLY AN OVERVIEW OF OUR PRESENT-DAY CAPABILITY EARNING DISTRIBUTION CAPITAL EVOLUTION OUR LEADERSHIP OUR MANAGEMENT TEAM THE JOURNEY OF BRAND CENTURYPLY OUR BRANDS OUR LOCATIONS ADOPTING THE BEST HR AND IT PRACTICES AN OVERVIEW OF THE INDUSTRY TODAY A PLYWOOD AND PANEL INDUSTRY B THE LAMINATES INDUSTRY C TAPPING INTO LOGISTICS WITH CFS MAPPING OUR FUTURE FINANCIAL APPENDICES 1 2 3 4 5 6 7 8 9 10 11 12 13

03

SLIDE 4

A BRIEF HISTORY OF CENTURYPLY

THE STORY SO FAR

SLIDE 5 1986: The journey begins 1996: Introduction of PF Plywood 1997: Introduction of borer-proof plywood 1999: Introduction of BWR grade decorative veneer 2000: Revolutionary non-leachable fire-safe plywood is developed 2002: Flexoply India’s only flexible plywood is introduced 2003: Fantasy range of flexible decorative veneer 2004: Decorative laminate plant starts operation 2005: Pre-lam unit commences operation 2006: Merger of Cement and Ferro Alloys business with CPIL 2007: Merger of Sharon Veneers Private Limited, Sharon Wood Industries Private Limited and Century Panels Pvt. Ltd. (2) First privately held Container Freight Station at Kolkata Port starts 2013: Myanmar Factory set up 2014: Laminate production capacity is doubled from 2.4 Mn to 4.8 Mn sheets (2) Set up of Laos Veneer Unit for supply of Raw Materials – Backward Integration (3) Set up of Century Indonesia Private Limited for exploring new markets 2015: (1) Century Doors launched – flush, panel moulded and decorative ranges 2009: (1) Addition of a new Plywood manufacturing plant in Guwahati 05 (3) Construction of MDF unit at Hoshiarpur (Punjab) starts 2016: (1) Launch of New Age Products – Zykron and Starke (Wood Polymer Composite and Cement Fibre Boards) (2) Set up Particle Board Unit at Chennai

SLIDE 6

AN OVERVIEW OF OUR PRESENT-DAY CAPABILITY

CENTURYPLY TODAY

SLIDE 7

Our Factories Our expertise extends to the following products

Strategically located manufacturing units near: Kolkata (Eastern part of India) Kandla (Western part of India) Chennai (Southern part of India) Karnal (Northern part of India) Guwahati (North-Eastern part of India) Roorkee (Central part of India) Also owns units in Myanmar & Laos Plywood Veneers Laminates Prelam MDF Particle Boards Doors CFS

07

CENTURYPLY IS INDIA’S LEADING INTEGRATED WOOD PANEL COMPANY

Controls 25% of the

• rganized plywood market

Has timber peeling capacity of 210,000 CBM and plywood production capacity of 210,000 CBM. The highest in India.

SLIDE 8

Laminates

is among the top 3 laminate producers in India is the fastest growing laminate brand in the country and we are aiming for leadership position soon has a fully integrated plant near Kolkata has a production capacity of 4.8 million sheets annually focuses on niche segments and value added products is seen as a design-leader, and our design papers are sourced from top international suppliers uses internationally sourced texture plates of the most modern trends

CFS

(Container Freight Station)

− is east India’s first privately owned and largest CFS − has an area of 100,000 sqm approximately − has a capacity of 156,000 TEUs

08

Future businesses

− setting up Particle Board capacity at Chennai, set to be operational by Q1 FY’17 − India’s largest MDF capacity set to be

• perational within FY’17, at Hoshiarpur

− New Age Products like Wood Polymer Composite & Fiber Cement Boards

SLIDE 9

EARNING DISTRIBUTION

SLIDE 10

Segment Contribution in 2015-16

Major revenue comes from plywood

10

EBIDTA

PLYWOOD LAMINATES LOGISTICS OTHERS

• 50.00
• 50.00

100.00 150.00 200.00 250.00 300.00 350.00 2011-12 2012-13 2013-14 2014-15 2015-16 26.94 87.07 26.29 1.93 29.21 71.96 27.54

• 2.63

23.00 123.52 17.17

• 2.67

32.37 202.97 33.84

• 1.96

39.11 197.13 54.27

• 1.12

TURNOVER

500 1000 1500 2000 2011-12 2012-13 2013-14 2014-15 2015-16 PLYWOOD LAMINATES LOGISTICS OTHERS 53.29 792.18 182.27 12.41 59.15 826.12 210.85 31.5 55.05 966.24 242.47 20.21 71.35 1152.31 299.56 41.59 84.90 1175.68 343.40 54.47

SEGMENT PROFIT

PLYWOOD LAMINATES LOGISTICS OTHERS

• 50

50 100 150 200 250 300 2011-12 2012-13 2013-14 2014-15 2015-16 18.85 77.56 21.91 1.91 21.59 61.46 19.22

• 2.91

15.45 106.92 8.08

• 3.16

21.77 186.69 22.96

• 2.77

28.17 183.52 44.73

• 1.68

SLIDE 11

CAPITAL EVOLUTION

SLIDE 12

DATE 1982-1993 31.03.1994 05.01.1996 27.05.1997 27.05.2004 30.07.2004 19.02.2007 16.04.2008 02.05.2008 Event Initial shares to promoters Merger of Ramkrishna Veneer Bonus issue 3 for 1 held Maiden public issue Rs. 10 premium Right issue at Rs. 30 premium Bonus issue 1 for 2 held Merger of Shyam Century Ferrous Ltd. Merger of Century Panel and Sharon Total Less shares forfeited Total Sub-division to Rs. 1 from Rs. 10 No. 240,100 93,110 999,630 3,682,040 1,951,152 3,414,516 9,521,865 2,451,886 22355299

• 138000

22,217,299 222,172,990 FV Rs. 10 10 10 10 10 10 10 10 10 Issue Rs. 10

• 20

30

• 10
• Rs. Crores

.24 .09 1.00 3.68 1.95 3.41 9.52 2.45 22.36 (0.14) 22.22

• Rs. Crores

.24

• 7.37

5.85

• 13.46
• 13.46

Only Rs. 3.37 crores capital raised from public

12

SLIDE 13

DRIVEN BY VISIONARIES

OUR LEADERSHIP

SLIDE 14

• Mr. Sajjan Bhajanka – our Executive Chairman and one of our

founder members – is a graduate with over 45 years of industry

• experience. He is directly responsible for the overall strategic

direction, production, finance and treasury. He is also the president of the Federation of Indian Plywood and Panel Industry and All India Veneer Manufacturers Association and a governing body member of Indian Plywood Industries Research and Training Institute. He holds 27.49% of total shareholding.

• Mr. Sanjay Agarwal is our CEO and Managing director, and is also
• ne of the co-founders. He is a graduate with 30 years of

industry experience and is responsible for sales, marketing, IT and HR. The CenturyPly brand was his brainchild, which has today reached great heights. He holds 27.17% of the total share-holding.

• Mr. Prem Kumar Bhajanka is our Managing Director. He is a

graduate with 30 years of industry experience and handles Timber procurement as well as the operation of four units including Myanmar. Holds 3.77% of total shareholding.

• Mr. Vishnu Khemani is also a Managing Director and is a graduate

with 30 years of industry experience. He heads timber procurement and the South India operations of our Plywood

• division. He holds 8.37% of the total share holding.
• Mr. Hari Prasad Agarwal is our Vice Chairman. He is a Graduate with
• ver 48 years of administrative experience. He takes care of the

General Administration within the company. He holds 6.54% of the total shareholding.

• Mr. Keshav Bhajanka is one of our directors.He is a meritorious

graduate from Warwick University, UK in Bachelors of Accounts and Finance in 2010. He is the man behind stellar growth of decorative vertical in the company which includes successful implementation of new supply chain projects & foray into new businesses such as MDF, Exteria & Flooring. 14

SLIDE 15

OUR MANAGEMENT TEAM

THE PEOPLE WHO KEEP US ON COURSE

SLIDE 16 Mr Ajay Baldawa is our Executive Director (Technical). He is an M.Tech from IIT with

• ver 30 years of experience in the plywood industry. He takes care of all

technical matters and is a member of the BIS Technical Committee for plywood.

• Mr. Shankho Chowdhury is our Executive Business Head – Decoratives. He is an

astute business operations professional with 30 years of total experience including organisations like Xerox, Shinawatra, Hutch / Vodafone, Reliance, Airtel, etc. Has immense expertise in start-ups & high growth of organisations, having been credited with building the teams that built Xerox, Hutch (Vodafone), Reliance CDMA Operations and Airtel’s Landline. He is currently the operations head spearheading the high velocity growth in the Decoratives Line of Business in CenturyPly.

• Mr. Arun Julasaria is the CFO. He is an FCA, FCS with varied experience over 25
• years. He is responsible for Finance, Accounts, Audit Treasury, Corporate

Structuring and New Projects. He was instrumental in the implementation of SAP at CenturyPly.

• Mr. Sugata Halder is our GM (Human Resources). He has a PGDM in Human Resource

Management with 22 years experience in HR matters, including 7 years as Regional HR Head of Bharti Airtel.

• Mr. Navarun Sen is designated as Executive Business Head, Plywood at Century

Plyboards (India) Ltd. He joined Century Plywood in November, 2013 and in addition to heading the Marketing & Sales for the Rs.1200 cr p.a. Plywood (Panel) business, he works closely with the management for the Strategy and Business Development function of the organization. Prior to joining CenturyPly, Navarun was Senior Vice President (Circle Business Head) at Uninor (Telenor Group - Norway). He has handled leadership senior management roles with Club Mahindra, Tech Mahindra, Pepsico, U B group etc. He completed his BE (Electrical & Electronics) from NIT, Karnataka & thereafter PGDM, Marketing from IIM Lucknow.

• Mr. Himangshu Shah spearheaded executive deliveries in capital planning and outlay,

management of projects and commercial operations at Bajaj Eco- tec Products. Successfully steered through Rs 300 crores worth of projects recently in setting up World’s Largest Bagasse based PB (Particle Board) and MDF (Medium Density Fibre Board) plants. 30 years of progressive experience including last 12+ years in corporate executive functions in Bajaj Group Companies. Vast Experience in Sugar, Distillery & Liquor Industry.

• Mr. Amit Gope is our GM (Branding). He has an MBA in Marketing from XIMB with
• ver 21 years of experience including 7 years with brands such as Vodafone,

Airtel and Uninor. He handles all brand and communication related activities.

• Mr. Ashutosh Jaiswal is the President (International Business & CFS
• perations). He is a Bachelor of Science with varied experience over 30
• years. He heads our CFS division and coordinates international trade. He is

also the president of the Eastern Chapter of the CFS Association. 16

SLIDE 17

THE JOURNEY OF BRAND CENTURYPLY

BUILDING OUR IDENTITY

SLIDE 18

The first TVC was aired with Late Cricketer Tiger Pataudi & Sharmila Tagore as the Brand Ambassadors

1993

The “Sab Sahe Mast Rahe” TVC campaign was aired which highlighted the product attributes of strength and durability

2005 2014

A need was felt to connect directly with the end user and take CenturyPly from being a “Product brand” to a “Consumer brand”, the brand campaign was endorsed by Nana Patekar. We also launched the Century Laminates TVC

2015

In 2015, we launched a TV campaign for Sainik Plywood

Brand-building is taken with utmost seriousness From the early days, association with stars and films was an integral part of this We have also associated with stars such as Shah Rukh Khan and Amitabh Bachchan through movies like Billu Barber, My Name is Khan and Aarakshan In the last two market researches the brand image that emerged was “It’s a trusted & old brand” & “CenturyPly is known for its quality”

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BRAND-BUILDING

SLIDE 19

OUR BRANDS

DIFFERENTIATING EACH OF OUR BUSINESSES

SLIDE 20 PLYWOOD

CENTURYLAMINATES CENTURYVENEERS CENTURYPRELAM CENTURYMDF CENTURYMDF

VENEERED

CENTURYTEAK CENTURYFACEVENEERS CENTURYEXTERIA

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SLIDE 21

REACHING OUR CONSUMERS EASILY

OUR LOCATIONS

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MANUFACTURING UNIT BRANCH OFFICE REGIONAL DISTRIBUTION CENTRE(RDC) CONTAINER FREIGHT STATION DISTRIBUTION NETWORK*

Manufacturing Units Ply* Laminates CFS

*Includes one subsidiary (51%) unit # Ply Myanmar is 100% subsidiary

7 1 2 Branch Offices / Depot 35 Regional Dist. Centre 6

*Includes dealers, sub-dealers, retail outlets etc.

Distribution Network* Total* Direct >18,000 >1,600

DOMESTIC NETWORK

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SLIDE 23

Myanmar Laos Singapore

International locations

23

SLIDE 24

ADOPTING THE BEST HR AND IT PRACTICES

KEEPING OUR WORKPLACE UP-TO-DATE

SLIDE 25

SOFTWARE THAT KEEPS US AHEAD OF THE CURVE

FIRST implementation of SAP HANA in Eastern India It’s on a 5-years scalable, Opex model with a world-class cloud data centre provider at Mumbai Implemented across 50 branches/warehouses and 5 factories System performance increased drastically (100% to 500%), leading to better operational efficiency This state-of-the-art platform will address the future business needs of the company

SAP HANA – the latest in business analytics

25

First in the category Taking veneer sales from physical to digital space Saving resources spent on travel and physical inspection

Decorative Veneers INSPECTION PORTAL LAUNCH

Over 500 sales executives will access the system from mobile pan-India This will empower sales team with actionable real time data on ground to be more productive Managers get real time visibility of operations of the sales force on ground Lead management process will improve Customer connect and serviceability will increase

CRM/SFA SOLUTION WILL BE IMPLEMENTED BY AUGUST END

SLIDE 26

DISCOVERING, DEVELOPING AND RETAINING TALENT

PMS & INCREMENT PROCESS : PMS & Increment processes were closed in record time, and the announcements were made by June end CENTURION EXPRESS: The pilot launch of Employee Self-Service portal, called Centurion Express, was carried out in Kolkata and HO. Being launched pan-India. HIRING & ON-BOARDING: There were a total of five hundred thirty one hires & inductions in the last one year MOVEMENT OF INTERNAL TALENT HANDLED THROUGH ASSESSMENT CENTRE & TALENT MANAGEMENT INITIATIVES: Assessment center and other such talent management initiatives led to identification and movement of internal talent at ASM, BSM level NEW-AGE TRAINING: Launched manufacturing AV films for Panel, Laminates and Veneers which are run over 8 hours during induction BUSINESS SCHOOL MANAGEMENT DEVELOPMENT PROGRAMS: For leadership development, top B School management programs were offered for select managers at Branch and Regional Sales Manager levels

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SLIDE 27

AN OVERVIEW OF THE INDUSTRY TODAY

BIRD’S EYE VIEW

SLIDE 28

PLYWOOD INDUSTRY

30% (ORGANIZED) 70% (UNORGANIZED)

50% CONTROLLED BY CENTURYPLY AND GREENPLY 50% CONTROLLED BY LOCAL PLAYERS A 1 5 , C R O R E I N D U S T R Y

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SLIDE 29

FACTORS DRIVING GROWTH

Growing real estate and construction sector New government’s emphasis on infrastructure and housing Rising per capita income and growing employment opportunities Urbanization and government proposal of new satellite cities Affordable housing loans thanks to recent policy measures Reduced home renovation cycle from 15 years (decade back) to 5 years

GROWTH AND ITS DRIVERS

OVERALL INDUSTRY

10% 25-30%

ORGANIZED SECTOR GROWTH

29

SLIDE 30

ADVANTAGES OF THE ORGANIZED SECTOR

Brand and quality awareness has charged

• rganized sector growth

Organized sector offer product innovation, wider choice and warranty Proportion of plywood in total interior cost is now considerably reduced due to use of costly and fancy interior materials, hence cost issue is diluted GST will be a game changer Organized sector share has grown from 10% (a decade back) to 30% Excise duty of 16% which was reduced to 8% in 2006 and now pegged at 12% Migration from sales tax to VAT system, the credit for state taxes is available in subsequent transactions Organized sector has volume and supply chain advantage

30

SLIDE 31

GST– LEVELLING THE PLAYING FIELD

Post GST, inter-state transactions will be tax neutral GST will be a win-win situation for all stake holders, i.e. Government, Honest Businessmen and Consumers as it will lower tax incidence, ease business and increase tax buoyancy coupled with tax collection As per a study carried out, GST will have significant positive impact on GDP growth GST will address the complexities and inefficiencies of current indirect tax framework through robust technology

• platform. Post GST, clandestine business

will be almost impossible GST will put both the organized and the unorganized sector at a level playing field GST will address double taxation, cascading effects and regional disparities in tax rates

31

SLIDE 32

READY TO TAKE ADVANTAGE OF THE CHANGE

Our position in the market

Adequate raw-material linkages. First mover in Myanmar Most preferred brand and consumer faith Retail driven business model Professionally owned and professionally managed Cordial labour relations. Incentive based wages system. Highest productivity Ready for exponential growth Pan India presence with strategic locations of six manufacturing facilities across all parts of India (North, South, East, West, North-East, and Central) Robust pan India distribution network of 35 branches with adequate warehousing

• facilities. About 1600 dealers/distributors

Maximum logistic advantage, proximity to raw-materials and at the doorstep of customers Highest volume and adequate capacities for future growth

32

SLIDE 33

THE LAMINATES INDUSTRY

Laminates are used to provide an aesthetic look to plywood Business synergy - Plywood and Laminates have same customer base Growth drivers for Laminates are the same as Plywood The Laminates market is organized and semi-organized Raw Material for Laminates are paper and chemicals Raw Materials are both imported and indigenous and are easily available

33

SLIDE 34

READY FOR GROWTH

Our position in the market

CenturyPly is the third largest producer of Laminates in India Green Lam, Merino and Royal Touch are peers We have augmented our capacity from 2.4 to 4.8 million sheets Higher realisation for laminates sales in both domestic and international markets Also have facility for MDF and particle board pre-lamination Almost 28% of the Laminates’ revenue is from export Addressing to niche segment In India, first time launched Exteria grade laminate, used for Building façade Almost 700 SKUs in existing folder and adding almost 100 every year Distribution and supply chain challenge addressed through Regional Distribution Centers

34

SLIDE 35

THE OPPORTUNITY – KOLKATA PORT

Heavily congested due to consistent traffic growth Container Traffic at Kolkata expected to grow at a CAGR of 25%

TAPPING INTO LOGISTICS WITH CFS

First privately owned CFS of Eastern India (at Kolkata Port) Two CFS covering 1 lac square meter area Complete new facilities with state-of-the-art technology RFID/GPS/GPRS based container tracking system Capacity 156,000 TEUs (15 days dwelling time basis) Entitled to 10 years Tax benefit U/s 80IA of the Income Tax Act Operational since 2008-09 High EBIDTA business with very low risk Profit multiplies with volume increase Managed by professionals

35

SLIDE 36

MAPPING OUR FUTURE

SETTING OUR AMBITIONS HIGH

SLIDE 37

Raw material linkages

Raw material availability & cost - crucial for long term sustainability of business. Evaluating linkage opportunities globally

Focus on new market segment

Now focusing on untapped market segments in smaller cities Greater focus on outsourcing to meet demand of economic range Already launched economy brands (Sainik, Maxima)

37

OUR AMBITION IS TO MAINTAIN OUR POSITION AS INDIA’S LEADING WOOD PANEL COMPANY.

SLIDE 38

Entry in MDF business

Decision taken to set up MDF manufacturing facility in Punjab Overall capex estimated at Rs. 444 Crores (380 Crores MDF, 64 Crores Plywood) To become fully operational by the end

• f next financial year

Exploring new age products

Entering into futuristic categories such as PVC sheets, Fibre Cement Board and flooring

38

SLIDE 39

OUR CSR INITIATIVES

SPREADING GOOD WILL

SLIDE 40

Supporting 30,000 students every year through Friends of Tribal Society CenturyPly Heroes program is an initiative to bring a smile to the faces of our most important patrons – the carpenters Programme ‘Bandhan’, through which Century Laminates has provided carpenters a better gratification scheme and accidental insurance policy ‘CenturyLaminates Care’ programme, which is an ongoing health check–up camp organized for the carpenters, contractors and their family members Support Marwari Relief Society Hospital Investment of profit percentage in CSR has always been above statutory norms

40

SLIDE 41

FINANCIAL APPENDICES

SLIDE 42

BALANCE SHEET

PARTICULARS NET WORTH (INCLUDING SHARE CAPITAL -22.25 CR) LONG TERM DEBT SHORT TERM DEBT (BANK CC+RELATED PARTY LOAN) TOTAL LIABILITIES FIXED ASSETS INVESTMENTS CURRENT ASSETS

• FINISHED GOODS INVENTORY
• RAW MATERIAL INVENTORY
• SUNDRY DEBTORS
• CASH & BANK
• OTHER CURRENT ASSETS
• LOANS & ADVANCES

CURRENT LIABILITES

• SUNDRY CREDITORS
• BUYERS' CREDIT *
• OTHERS

NET CURRENT ASSETS NON CURRENT ASSETS TOTAL ASSETS 2014 291.41 117.98 113.98 523.37 230.73 37.89 73.81 218.84 204.63 18.04 18.81 43.69 59.15 213.91 120.67 184.09 70.66 523.37 2015 387.58 81.42 220.59 689.59 231.59 45.12 117.36 202.68 271.91 17.03 9.02 67.01 65.22 153.81 141.33 324.65 88.23 689.59 2016 528.88 64.07 159.05 752.00 297.49 49.67 125.50 149.65 289.78 19.04 24.45 69.17 84.80 181.92 127.26 283.61 121.23 752.00 42

SLIDE 43 KEY RATIOS RETURN ON EQUITY (ROE) (%) RETURN ON CAPITAL EMPLOYED (ROCE) (%) TOTAL OUTSIDE LIABILITIES TO NET WORTH (TOL/TNW) TOTAL DEBT / EBITDA TOTAL DEBT EQUITY RATIO LONG TERM DEBT EQUITY RATIO INTEREST COVER FIXED ASSETS TURNOVER RATIO 2013-14 24.74% 16.59% 2.15 3.12 1.69 0.40 2.26 5.56 2014-15 44.42% 26.68% 1.71 1.87 1.29 0.21 5.15 6.76 2015-16 36.68% 26.09% 1.17 1.58 0.86 0.12 5.23 5.57

KEY RATIOS

43

SLIDE 44

WORKING CAPITAL CYCLE

RATIOS NET SALES DEBTOR DEBTOR DAYS (A) NET SALES RAW MATERIAL INVENTORY RAW MATERIAL INVENTORY DAYS (B) NET SALES FINISHED GOODS INVENTORY FINNISHED GOODS INVENTORY DAYS (C) NET SALES TRADE PAYABLES BUYERS CREDIT FOR RAW MATERIALS TOTAL PAYABLES PAYABLES DAYS (D) CASH CONVERSION CYCLE (DAYS) = A+B+C-D CASH CONVERSION CYCLE (MONTHS) 2013-14 1,283.97 204.63 58 1,283.97 235.47 67 1,283.97 57.18 16 1,283.97 59.15 200.21 259.36 74 68 2.25 2014-15 1,564.81 268.14 63 1,564.81 232.40 54 1,564.81 87.65 20 1,564.81 65.22 145.03 210.25 49 88 2.94 2015-16 1,658.46 289.78 64 1,658.46 176.94 39 1,658.46 98.21 22 1,658.46 84.80 162.48 247.28 54 70 2.33 44

SLIDE 45 PARTICULARS NET TURNOVER ADD: OTHER OPERATING INCOMES TOTAL INCOME GROSS PROFIT GROSS PROFIT % OF TOTAL INCOME EBIDTA EBIDTA % OF TOTAL INCOME PROFIT BEFORE TAX PROFIT BEFORE TAX AS % OF TOTAL INCOME PROFT AFTER TAX PROFIT % OF TOTAL INCOME SL A1 A2 A3 B1 B2 C1 C2 D1 D2 E1 E2 UNIT IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR 2013-14 1,276.04 7.93 1,283.97 352.97 27% 157.66 12% 69.30 5% 66.94 5% ANNUAL 2014-15 1,552.47 12.34 1,564.81 537.81 34% 267.89 17% 179.80 11% 150.82 10% 2015-16 1,646.86 11.60 1,658.46 613.47 37% 289.11 17% 197.75 12% 168.07 10% GROWTH % 14 VS 15 22% 22% 52% 70% 159% 125% GROWTH % 15 VS 16 6% 6% 14% 8% 10% 11% GROWTH % QOQ 16% 16% 11% 10% 14%

• 3%

GROWTH % YOY 11% 11% 9%

• 3%
• 7%
• 16%

DEC '15 388.59 2.03 390.62 154.32 40% 70.28 18% 47.99 12% 41.60 11% MAR '15 404.94 4.28 409.22 157.79 39% 80.21 20% 59.33 14% 47.97 12% MAR '16 451.24 3.49 454.73 171.58 38% 77.42 17% 54.89 12% 40.52 9%

PROFIT & LOSS - SUMMARY

QUARTER 45

SLIDE 46 PARTICULARS VOLUME

• PLYWOOD
• DECO PLY
• COMMERCIAL VENEER

TOTAL NET SALES VALUE

• PLYWOOD
• DECO PLY
• COMMERCIAL VENEER

TOTAL AVERAGE

• PLYWOOD
• DECO PLY
• COMMERCIAL VENEER

OVERALL SL A A1 A2 A3 B B1 B2 B3 C C1 C2 C3 UNIT CBM CBM CBM IN RS CR IN RS CR IN RS CR RS. RS. RS. RS. 2013-14 1,72,452 5,379 43,524 2,21,354 760.04 73.43 131.37 964.84 44,072 1,36,526 30,184 43,588 ANNUAL 2014-15 1,92,249 6,217 35,534 2,34,000 921.62 88.25 137.22 1,147.08 47,939 1,41,954 38,615 49,021 2015-16 1,89,007 8,711 44,076 2,41,794 902.79 113.80 156.92 1,173.51 47,765 1,30,639 35,602 48,533 GROWTH % 14 VS 15 11% 16%

• 18%

6% 21% 20% 4% 19% 9% 4% 28% 12% GROWTH % 15 VS 16

• 2%

40% 24% 3%

• 2%

29% 14% 2% 0%

• 8%
• 8%
• 1%

GROWTH % QOQ 14% 11% 2% 21% 20%

• 9%

16% 6% 8%

• 11%

GROWTH % YOY 4% 34% 44% 6% 31% 26% 10% 1%

• 2%
• 13%

DEC '15 44,378 2,068 11,509 57,955 208.59 26.21 40.48 275.28 47,003 1,26,748 35,176 47,500 MAR '15 48,603 1,723 8,137 58,462 238.54 24.02 29.24 291.80 49,079 1,39,421 35,940 49,913 MAR '16 50,725 2,301 11,719 64,745 252.57 31.36 36.76 320.69 49,792 1,36,289 31,368 49,531

PLYWOOD – VOLUME DETAILS

QUARTER 46

SLIDE 47 PARTICULARS NET TURNOVER ADD: OTHER OPERATING INCOMES TOTAL INCOME GROSS PROFIT GROSS PROFIT % OF NET SALES EBIDTA EBIDTA % OF NET SALES SEGMENT PROFIT SEGMENT PROFIT % OF NET SALES FOREX LOSS/(GAIN) SEGMENT PROFIT EXCL FOREX DIFFERENCE SEGMENT PROFIT EXCL FOREX DIFFERENCE % SL A1 A2 A3 B1 B2 C1 C2 D1 D2 E1 E2 E3 UNIT IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR 2013-14 964.84 1.40 966.24 249.26 26% 123.52 13% 106.92 11% 9.74 116.66 12% ANNUAL 2014-15 1,147.08 5.23 1,152.31 382.75 33% 202.97 18% 186.69 16%

• 5.06

181.63 16% 2015-16 1,173.51 2.17 1,175.68 411.05 35% 197.13 17% 183.52 16%

• 2.79

180.73 15% GROWTH % 14 VS 15 19% 274% 19% 54% 29% 64% 38% 75% 46%

• 152%

56% 31% GROWTH % 15 VS 16 2%

• 59%

2% 7% 5%

• 3%
• 5%
• 2%
• 4%
• 45%

0%

• 2%

GROWTH % QOQ 16% 8% 16% 14%

• 4%

18%

• 56%

21% GROWTH % YOY 10%

• 77%

9%

• 1%
• 26%
• 16%
• 69%
• 14%

DEC '15 275.29 0.51 275.80 100.75 37% 49.58 18% 40.82 15%

• 1.74

39.08 14% MAR '15 291.79 2.39 294.18 115.47 39% 64.36 22% 57.63 20%

• 2.51

55.12 19% MAR '16 320.69 0.55 321.24 114.48 36% 47.53 15% 48.23 15%

• 0.77

47.46 15%

PLYWOOD – FINANCIAL DETAILS

QUARTER 47

SLIDE 48 PARTICULARS VOLUME

• LAMINATES - DOMESTIC
• LAMINATES - EXPORT

TOTAL LAMINATES

• PRE-LAM
• EXTERIA GRADE LAMINATES

NET SALES VALUE

• LAMINATES - DOMESTIC
• LAMINATES - EXPORT

TOTAL LAMINATES

• PRE-LAM
• EXTERIA GRADE LAMINATES

AVERAGE

• LAMINATES - DOMESTIC
• LAMINATES - EXPORT

TOTAL LAMINATES

• PRE-LAM
• EXTERIA GRADE LAMINATES

SL A A1 A2 A3 A4 B B1 B2 B3 B4 C C1 C2 C3 C4 UNIT NOS. NOS. NOS. SQM NOS. IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR RS. RS. RS. RS. 2013-14 20,46,917 8,66,369 29,13,286 10,89,812 2,692 133.15 53.11 186.26 48.76 1.66 651 613 639 447 6,166 ANNUAL 2014-15 25,56,464 10,44,218 36,00,682 13,01,520 11,274 179.45 65.17 244.62 42.04 6.88 702 624 679 323 6,103 2015-16 29,89,034 12,71,465 42,60,499 10,31,181 7,693 210.58 82.41 292.99 37.11 5.20 705 648 688 360 6,759 GROWTH % 14 VS 15 25% 21% 24% 19% 319% 35% 23% 31%

• 14%

314% 8% 2% 6%

• 28%
• 1%

GROWTH % 15 VS 16 17% 22% 18%

• 21%
• 32%

17% 26% 20%

• 12%
• 24%

0% 4% 1% 11% 11% GROWTH % QOQ 16% 11% 15% 18%

• 14%

25% 9% 15%

• 13%

8%

• 1%

5%

• 2%

1% GROWTH % YOY 15% 26% 18%

• 16%
• 47%

15% 26% 2%

• 39%

0% 0% 0% 21% 15% DEC '15 7,25,721 3,30,807 10,56,528 2,12,187 1,982 46.90 21.24 68.14 7.90 1.34 646 642 645 372 6,761 MAR '15 7,36,724 2,90,329 10,27,053 2,96,133 3,259 51.24 18.37 69.61 8.91 1.93 696 633 678 301 5,926 MAR '16 8,44,135 3,66,504 12,10,639 2,49,631 1,713 58.79 23.22 82.01 9.07 1.17 696 634 677 363 6,830

LAMINATES – VOLUME DETAILS

QUARTER 48

SLIDE 49 PARTICULARS NET TURNOVER ADD: OTHER OPERATING INCOMES TOTAL INCOME GROSS PROFIT GROSS PROFIT % OF NET SALES EBIDTA EBIDTA % OF NET SALES SEGMENT PROFIT SEGMENT PROFIT % OF NET SALES FOREX LOSS/(GAIN) SEGMENT PROFIT EXCL FOREX DIFFERENCE SEGMENT PROFIT EXCL FOREX DIFFERENCE % SL A1 A2 A3 B1 B2 C1 C2 D1 D2 E1 E2 E3 UNIT IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR 2013-14 236.69 5.78 242.47 58.17 24% 17.17 7% 8.08 3% 2.97 11.05 5% ANNUAL 2014-15 293.54 6.02 299.56 87.27 29% 33.84 11% 22.96 8%

• 8.03

14.93 5% 2015-16 335.30 8.10 343.40 119.38 35% 54.27 16% 44.73 13%

• 1.75

42.98 13% GROWTH % 14 VS 15 24% 4% 24% 50% 21% 97% 60% 184% 130%

• 370%

35% 9% GROWTH % 15 VS 16 14% 35% 15% 37% 19% 60% 40% 95% 70%

• 78%

188% 151% GROWTH % QOQ 19% 52% 20% 13% 124% 31%

• 74%

41% GROWTH % YOY 15% 63% 16% 39% 168% 110%

• 95%

646% DEC '15 77.38 1.68 79.06 29.95 38% 8.59 11% 10.39 13%

• 0.89

9.50 12% MAR '15 80.46 1.56 82.02 24.26 30% 7.17 9% 6.46 8%

• 4.67

1.79 2% MAR '16 92.26 2.55 94.81 33.78 36% 19.25 20% 13.59 14%

• 0.23

13.36 14%

LAMINATES – FINANCIAL DETAILS

QUARTER 49

SLIDE 50 PARTICULARS VOLUME

• CFS

NET SALES VALUE

• CFS

AVERAGE

• CFS

SL A A1 B B1 C C1 UNIT CBM IN CR RS. FY 2013-14 52,924 54.31 10,262 ANNUAL FY 2014-15 72,508 70.29 9,693 FY 2015-16 82,057 83.73 10,204 GROWTH % 14 VS 15 37% 29%

• 6%

GROWTH % 15 VS 16 13% 19% 5% GROWTH % QoQ

• 8%

3% 12% GROWTH % YoY 22% 38% 13% DEC '15 23,113 23.14 10,010 MAR '15 17,436 17.22 9,874 MAR '16 21,269 23.77 11,176

LOGISTICS (CFS) – VOLUME DETAILS

QUARTER 50

SLIDE 51 PARTICULARS NET TURNOVER ADD: OTHER OPERATING INCOMES TOTAL INCOME GROSS PROFIT GROSS PROFIT % OF NET SALES EBIDTA EBIDTA % OF NET SALES SEGMENT PROFIT SEGMENT PROFIT % OF NET SALES FOREX LOSS/(GAIN) SEGMENT PROFIT EXCL FOREX DIFFERENCE SEGMENT PROFIT EXCL FOREX DIFFERENCE % SL A1 A2 A3 B1 B2 C1 C2 D1 D2 E1 E2 E3 UNIT IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR 2013-14 54.31 0.74 55.05 46.11 84% 23.00 42% 15.45 28% 0.21 15.66 28% ANNUAL 2014-15 70.28 1.07 71.35 61.59 86% 32.37 45% 21.77 31%

• 0.43

21.34 30% 2015-16 83.73 1.17 84.90 74.86 88% 39.11 46% 28.17 33% 28.17 33% GROWTH % 14 VS 15 29% 45% 30% 34% 3% 41% 9% 41% 9%

• 305%

36% 5% GROWTH % 15 VS 16 19% 9% 19% 22% 2% 21% 2% 29% 9%

• 100%

32% 11% GROWTH % QOQ 3%

• 261%

5% 5% 4% 3%

• 100%

4% GROWTH % YOY 38% 12% 38% 37% 37% 46%

• 100%

53% DEC '15 23.14

• 0.23

22.91 20.52 90% 11.28 49% 8.43 37%

• 0.03

8.40 37% MAR '15 17.22 0.33 17.55 15.72 90% 8.61 49% 5.97 34%

• 0.27

5.70 32% MAR '16 23.77 0.37 24.14 21.60 89% 11.77 49% 8.72 36%

• 8.72

36%

LOGISTICS (CFS) – FINANCIAL DETAILS

QUARTER 51

SLIDE 52 PARTICULARS NET TURNOVER ADD: OTHER OPERATING INCOMES TOTAL INCOME GROSS PROFIT GROSS PROFIT % OF NET SALES EBIDTA EBIDTA % OF NET SALES SEGMENT PROFIT SEGMENT PROFIT % OF NET SALES FOREX LOSS/(GAIN) SEGMENT PROFIT EXCL FOREX DIFFERENCE SEGMENT PROFIT EXCL FOREX DIFFERENCE % SL A1 A2 A3 B1 B2 C1 C2 D1 D2 E1 E2 E3 UNIT IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR IN RS CR 2013-14 20.20 0.01 20.21 2.79 14%

• 2.67
• 13%
• 3.16
• 16%

0.46

• 2.70
• 13%

ANNUAL 2014-15 41.57 0.02 41.59 5.54 13%

• 1.96
• 5%
• 2.77
• 7%
• 0.24
• 3.01
• 7%

2015-16 54.32 0.15 54.47 8.45 16%

• 1.12
• 2%
• 1.68
• 3%
• 0.37
• 2.05
• 4%

GROWTH % 14 VS 15 106% 100% 106% 99%

• 3%
• 27%
• 64%
• 12%
• 57%
• 152%

11%

• 46%

GROWTH % 15 VS 16 31% 650% 31% 52% 16%

• 43%
• 56%
• 39%
• 54%

54%

• 32%
• 48%

GROWTH % QOQ 14%

• 71%

13%

• 46%
• 351%

1503% 19% 753% GROWTH % YOY

• 6%
• 6%
• 9%

122% 30%

• 56%

14% DEC '15 12.78 0.07 12.85 2.81 22% 0.53 4%

• 0.07
• 1%
• 0.07
• 0.13
• 1%

MAR '15 15.47

• 15.47

1.67 11%

• 0.6
• 4%
• 0.81
• 5%
• 0.18
• 0.99
• 6%

MAR '16 14.52 0.02 14.54 1.52 10%

• 1.33
• 9%
• 1.05
• 7%
• 0.08
• 1.13
• 8%

OTHERS – FINANCIAL DETAILS

QUARTER 52

SLIDE 53 PARTICULARS MDF PLYWOOD AT PUNJAB PARTICLE BOARD CFS CORPORATE OFFICE JOKA UNIT GANDHIDHAM UNIT KARNAL UNIT GUWAHATI UNIT OTHERS TOTAL INCURRED DURING 2015-16 37.98

• 51.15

9.34 7.78 13.79 13.51 2.49 3.54 1.53 141.11 ESTIMATED FY 16-17 291.75 20.00 8.00

• 37.00
• 356.75

ESTIMATED FY 17-18 50.00 4.00

• 54.00

ESTIMATED FY 18-19

• 40.00
• 40.00

TOTAL 380.00 64.00 59.18 11.81 58.00 15.60 17.92 2.49 3.94 1.60 614.54 BUDGETED COST 380.00 64.00 64.11

• 58.00
• 566.11

CWIP AS ON 31.03.2015 0.27

• 0.03

2.47 13.22 1.81 4.41

• 0.40

0.07 22.68

CAPEX DETAILS

• RS. CRORE

53

SLIDE 54 PARTICULARS AVERAGE FOREX BOOKING RATES @ RS.

• USD
• HKD
• EURO

FOREX REINSTATEMENT RATES @ RS.

• USD
• HKD
• EURO

EXPOSURE

• USD (MILLION) WORKING CAPITAL
• USD (MILLION) TOTAL ECB
• TOTAL USD (MILLION)
• HKD (MILLION)
• EURO (MILLION)

EQUIVALENT INR (IN RS. CRORES)

• WORKING CAPITAL - USD
• ECB - USD
• TOTAL - USD
• HKD
• EURO
• OTHER CURRENCIES

TOTAL (IN RS. CRORES) EXPOSURE SUMMARY

• USD (INCLUDES HKD)
• HKD
• EURO
• OTHER CURRENCIES

FOREX LOSS(-) /GAIN SUMMARY (RS. CRS) TREATED AS BORROWING COST TAKEN IN SEGMENT PROFIT OR IN EBIDTA TOTAL IN RS. CRORES 31.03.2014 57.83 8.04 80.00 60.10 7.71 82.58 8.89 12.15 21.04 159.21 4.18 53.44 73.02 126.46 122.75 34.55 4.01 287.77 44% 43% 12% 1% 27.28 16.74 44.02 31.03.2015 61.79

• 77.49

62.59 8.06 67.51 15.93 8.93 24.85

• 4.24

99.69 55.86 155.55

• 28.65

1.36 185.56 84% 0% 15% 1% 9.61

• 14.43
• 4.82

31.03.2016 64.17

• 71.99

66.33 8.55 75.10 13.41 9.20 22.61

• 4.58

88.97 61.02 150.00

• 34.43

1.86 186.28 81% 0% 18% 1% 17.77

• 4.63

13.14 14 VS 15 DIFF 3.96

• (2.51)

2.49

• (15.07)

7.04 (3.23) 3.81 0.06 46.25 (17.16) 29.09 (5.90) (2.65) (102.21) DIFF % 7%

• 3%

4%

• 18%

79%

• 27%

18% 1% 87%

• 23%

23%

• 17%
• 66%
• 36%

15 VS 16 DIFF 2.38

• (5.50)

3.74

• 7.59

(2.51) 0.27 (2.24) 0.34 (10.71) 5.16 (5.55) 5.77 0.50 0.72 DIFF % 4%

• 7%

6%

• 11%
• 16%

3%

• 9%

8%

• 11%

9%

• 4%

20% 37% 0%

FOREX EXPOSURE

54

SLIDE 55

LET’S TALK