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0 Ruchi Soya Industries Limited Corporate Presentation

1 Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: • This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any securities of Ruchi Soya Industries Limited (the "Company“ or “Ruchi Soya”), nor shall part, or all, of this document form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities of the Company. • This document is strictly confidential and may not be copied, published, distributed or transmitted to any person, in whole or in part, by any medium or in any form for any purpose. The information in this document is being provided by the Company and is subject to change without notice. The Company relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. • This document contains statements about future events and expectations that are forward-looking statements. These statements typically contain words such as "expects" and "anticipates" and words of similar import. Any statement in this document that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. None of the future projections, expectations, estimates or prospects in this document should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in the document. The Company assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. • You acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company. • This document speaks as of March 31, Neither the delivery of this document nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since that date Page 1

2 Overview

3 index Overview of Ruchi Soya 4 Key Highlights 8
Slide No. Overview of Ruchi Soya Key Highlights Global & Domestic Industry Scenario Integrated Operations Brand Offerings Management Business Strategy Financials Page 3

4 Overview of Ruchi Soya Company Profile Capacity growth
One of the leading manufacturers of high quality edible oils, vanaspati, bakery fats and soya foods in India Consolidated Annual turnover of over US$ 5.9 Bn(1)(2) in FY12 Among the top Indian FMCG players Branded portfolio including Nutrela, Ruchi Gold, Sunrich and Mahakosh Present across the value chain with access to over 185,000 hectares of land in India for palm oil plantations Listed on BSE (500368) & NSE (RUCHISOYA) Ongoing discussions for securing land for soya / palm plantation in geographies including Ethiopia and Cambodia and other geographies (Mn MT/Yr) Crushing: CAGR : 15% Refining: CAGR : 24% Vanaspati: CAGR : 17% Growing Sales (2) Revenue mix (FY12) Revenues (INR Bn) Page 4 Assuming INR/USD of 51.15 On the basis of consolidated financials.

5 Edible oil segment The Company has a strong position in the edible oil segment with an estimated market share of ~18%. The company has attained leadership position in ROCP category with market share of ~ 15.5%, the company has also witnessed growth over the last 3-4 years in the institutional segment, which caters to institutional customers like, Parle, Britannia Industries, Cadbury India, Nestle India, Lotte India, Bunge India, and ITC Ruchi Soya edible oil sales(1) Ruchi Soya edible oil market share(2) 000’MT % Ruchi soya edible oil segment: CAGR FY07–FY12: 20% Indian edible oil: CAGR FY07–FY12: 7% (000’MT) FY07 FY08 FY09 FY10 FY 11 (P) FY12 (P) Industry edible oil consumption 11,807 12,970 14,559 15,853 16,862 16932 Source: USDA FAS Standalone sales of edible oil segment of Ruchi Soya Industries Ltd.; excludes the sales for captive consumption 2. Market share estimated based on edible oil sales of Ruchi Soya and Industry edible oil consumption based on USDA FAS data P - provisional Page 5

6 Evolution of Ruchi Soya
Revenue CAGR : 25% Primary focus on inland crushing High proportion of revenue from trading activities Expansion of extraction and refining capacity Focus on branded products Increased port based refining Focus on developing upstream business Secure access to 185,000 ha of palm plantation in India Major refining capacity expansion in 2012 Efforts to secure international land bank access underway Page 6

7 Key Highlights

8 Key Highlights Favourable Industry Dynamics
Scale & Extensive Distribution Reach in India Strong Brands in India Strong Risk Management Experienced Management Strong Market Position in Edible Oils in India Fully Integrated Operations Page 8

9 Global Industry Overview
India is a leading consumer of edible oil with high growth expectation World Edible Oil Consumption (FY12) World Edible Oil Production (FY12) Indonesia 19% Malaysia 13% China Europe 11% United States 7% Argentina 6% India 5% Other 26% Indonesia Argentina Source: USDA FAS Palm and Soyabean oil constitute ~61% of the Global Edible Oil Demand FY07-FY12 CAGR 43% 17% 14% 9% 7% 5% 4% Palm Soyabean Rapeseed Peanut Cottonseed Sunflower seed Other 3% 3% 7% 3% 6% Source: USDA FAS Source: Global Edible Oil Demand as per USDA FAS Page 9

10 India Edible Oil Industry: High growth potential
Robust growth in consumption of edible oil .... Rising deficit with domestic production not being able to keep pace Oil Consumption growing inline with growth in population … …getting turbo charged by growing per capita income Significant growth in per capita consumption can be expected as Indian per capita GDP continues to grow Mn US$ Source: USDA FAS, IMF Source: USDA FAS, IMF Source: USDA FAS, IMF Indian Edible oil demand being substantially met by imports as domestic production has lagged Edible oils have a significant share in Indian agricultural imports CAGR Imports: 9% CAGR Production : 4% Source: USDA FAS India Imports India Production Source: USDA FAS Page 10

11 India Edible Oil Industry: High growth potential (Cont’d)
Palm oil consumption in India has seen significant growth, and is primarily met through imports, leaving significant room for growth in domestic production India Edible Oil Consumption India Edible Oil Imports FY07-FY12 CAGR FY07-FY12 CAGR 7% 16279 16,862 14% 15,853 14,559 12,970 11,807 5,917 5,440 19% 15% 15% Source: USDA FAS (Office of Global Analysis) as at July ‘12 Source: USDA FAS (Office of Global Analysis) as at July ‘12 Page 11

12 Fully Integrated Operations
Healthy mix of midstream and downstream, and well on its way to develop an upstream business Information flows / Visibility across value chain Origination Processing Products Merchandising and distribution Customer Finance / Risk management / Logistics coordination Origination Palm plantations across Andhra Pradesh, Karnataka, Mizoram, Gujarat, Orissa and Tamil Nadu Exclusive access to total agricultural land of 185,000 hectares Processing Daily capacity (MT)(2012): Crushing:13,400 Crude Oil: 2,465 Soya Meal: 10,967 Refining: 9567 Vanaspati & bakery fats: 1,567 Textured soya protein: 567 Edible soya flour: 200 Wind Power Generation: Mw Products Key products Edible oil Seed extractions, Vanaspati Food productions Key brands include Nutrela, Ruchi Gold, Ruchi Star, Sunrich and Mahakosh Merchandising and distribution 110 company depots through India with storage and logistical facilities Pan India distribution network covering 6,208 distributors reaching 586,500 retail outlets Page 12

13 Strong Brands in India Track record of successfully creating brands in a highly commoditized industry Key Brands Branded Sales Nutrela – Food products/ Refined Oils (Soyabean, Groundnut, Cottonseed, Sunflower , Mustard , Ricebran) Nutri Gold – Vanaspati Mahakosh – Refined Oils (Soyabean, Groundnut, Cottonseed and Ricebran) & Vanaspati Sunrich – Refined Sunflower Oil Ruchi Gold – Refined Oils (Mustard and Palmolein) Ruchi Star – Refined Soyabean Oil Ruchi No. 1 – Vanaspati Premium 5 Year CAGR of 19 % Value Mass Page 13

14 Scale & Extensive Distribution Reach in India
Strategically located facilities striking the right balance between proximity to raw materials (cultivating states and ports) and proximity to markets, with an aggregate daily crushing capacity of 13,400 MT of oilseeds and aggregate refining capacity of 9567 MT of oil Pan India Presence Manufacturing locations Cities Activity Access to Ports Crushing Refining Vanaspati Soyafood 1 Jammu 2 Ganganagar 3 Baran 4 Kota 5 Guna 6 Kandla 7 Shujalpur 8 Piparia 9 Gadarwara 10 Haldia 11 Manglia 12 Nagpur 13 Washim 14 Daloda 15 Patalganga 16 Mangalore 17 Chennai 18 Kakinada (A.P) palm mill 19 Vijaywada (A.P) palm mill 1 Jammu Parwanoo Amritsar Damtal Rajpura Ludhiana 2 Dehradun Bhatinda Chandigarh Roorkee Karnal Meerut Gurgaon Delhi Barelly Sriganganagar Rewari Hapur Saharanpur 3 Jaipur Kanpur Agra Baran Allahabad Jodhpur Daloda Gorakhpur Guwahati Kota 4 Sumerpur 15 Varanasi Patna Udaipur 8 Shujalpur Dhanbad 7 Gwalior Raniganj 12 Manglia Guna Siliguri Ahmedabad 5 Gaderwada Ranchi Piparia 10 11 Haldia Kandla Indore 9 6 13 Raipur Sambalpur Jeypore Kolkata Washim 14 Nashik Cuttack Mumbai Pune Nagpur Bilaspur Bhiwandi 16 Warangal Patalganga Gulbarga Vijaywada Davangere Hyderabad Berhampur Bijapur Belgaum Vizag Goa Kurnool Ongole 17 Bellary 19 Tirupathi Highlights Manglore Kakinada Banglore 18 Pan India Footprint Manufacturing facilities across 19 locations in India, giving access to markets across India 110 company depots (with storage and other logistical facilities) which serve 6,208 distributors across the country reaching 5,86,500 retail outlets. All refining plants located near ports, providing easier access to imported edible oil Distribution through pipes at ports saves transport cost and time Inland crushing plants located in key soya bean and mustard producing states Shimoga Hassan Chennai Hubi Vellore Kasargod Mysore Villupuram Pondicherry Calicut Salem Kumbakonam Depot Plant location Office Cochin Trichy Palghat Madurai Coimbatore Erode Proximity to Ports Crushing in Soya bowl of India Page 14 Note: Distribution network as of March 2011 ;

15 Strong Risk Management
The company has effectively maintained revenue growth and profitability in spite of the volatility of commodity cycles, over the last decade Consolidated Revenues (INR Bn) Consolidated EBITDA (INR Mn) Source: IMF Rapeseed refers to - Rapeseed Oil; Crude, fob Rotterdam Soya refers to - Soybean Oil, Chicago Soybean Oil Futures (first contract forward) exchange approved grades, US$ per metric tonne Palm refers to - Palm oil, Malaysia Palm Oil Futures (first contract forward) 4-5 percent FFA, US$ per metric tonne Page 15

16 Experienced Management
Experienced management team with over four decades of industry experience Credited with the growth and development of the soya and soya processing industry in India Key members have served or are currently serving as officers of various industry bodies, recognizing their standing in sector Core Management Team Managing Director of Ruchi Soya Industries Ltd. since 1986 Over 32 years of experience in the soya and edible oil industry Also serves as a Non Executive Director of Ruchi Infrastructure Ltd. Mr. Shahra holds a degree of Bachelors in Chemical Engineering Mr. Dinesh Shahra Managing Director Responsible for operations in all the port based refineries Over 19 years of experience in the relevant operations, including in Ruchi Soya since 2006 Mr. Shahra holds a degree of Bachelors in Commerce and Masters in Business Administration Mr. Nitesh Shahra President, Refinery Business Over 26 years of experience, including ~18 years in Ruchi Soya Responsible for Finance and Treasury operations Qualified chartered accountant, cost accountant and company secretary Mr. V. Suresh Kumar Head, Corporate Finance Joined Ruchi Soya Industries in 2009 Previous experience includes 16 years in Asian Paints (holding positions including, Regional Head-S.Pacific, China & Hongkong and CEO for Bangladesh and Dubai) and 4 years in ITC Ltd. (Agri Business) Mr. RV Ramanujam Chief Operating Officer Page 16 Source: Company.

17 Strong Market Position in Edible Oils in India
Among the oldest and most established edible oil players in India Awards to the Company Select Awards Received Largest Food & Agriculture Company in India – Fortune India & 2011. One of the only two Indian Companies featured in the “World's 50 fastest growing consumer firms” during the June 2009-June 2010 period. Ranked “20th fastest growing consumer companies” across the globe during June – Deloitte National energy conservation awards Edible oil / Vanaspati 2nd Chennai Plant (2007) 1st Gujarat plant (2008) Karnataka Plant (2009) 1st Chennai Plant (2008) 2nd Nagpur Plant (2011) Market Position in India(1) Globoil gold & Other awards Among the leading importers of edible oil Among the leading exporters of meal/oil seed extracts Exports/Imports Management awards Ruchi soya awards No.1 M.D. for 2010 by Business World - Dinesh Shahra Globoil man of the year 2010 Nitesh Shahra Globoil man of the decade award in the year 2006 Dinesh Shahra Legend of the year 2003 Kailash Shahra Highest exporter of oil meals (2011/10/ 09 / 07 / 06 / 04 / 03 / 00 / 99 / 98) Highest importer of edible oil (2011/10/ 09 / 07 / 06 / 03 / 98) “Best Wind Farm in India” (>2Mw) at Intl. Wind Energy Conference. Outstanding Performance for a decade in Import of edible oil (09) Outstanding Performance for a decade in Export of oil meal (09) 1st Among the largest capacities Crushing capacity (13,400 MT/day) Refinery capacity (9567 MT/day) Access to one of the largest palm oil plantations in India Capacity 1st One of the leading Indian Edible oil players in terms of Volumes Very strong position in Palmolein Oil Extensive portfolio of brand sales in edible oil segment Branded Products (1) Based on company estimates Page 17

18 Business Strategy Backward Integration
Expansion into upstream business in order to enhance margins as well as secure supply chain. Improving ability to source raw materials required from multiple sources in a timely and cost effective manner, with reduced dependence on third parties. In FY2010, the Company acquired 2 entities with exclusive rights to cultivate palm plantations in two of the key palm producing states in India. The Company entered into MoU with State governments securing access to a portion of the palm fruit produce at certain plantations. Sustained expansion in capacity to meet the growing demand of Edible oil in India, in addition to helping the Company realize efficiencies and economies of scale. Focus on maintaining leadership position in the branded edible oils segment in India. Increase of sales and marketing efforts in regions where the Company does not have a strong presence, particularly towns with population less than 50,000. Increased focus on R&D activities on expanding product range. New health-focused product development to be marketed under the “Nutrela” brand. Focus on bakery shortening business along with leveraging the opportunities available in mustard branded sales , palm and soya products. Diversify geographic footprint, and enhance scale and reach of operations. Explore opportunities to produce and sell edible oil in other emerging markets. Ongoing discussions for securing land for soya / palm plantation in geographies including Ethiopia and Cambodia and other geographies. Backward Integration Expansion & Consolidation of installed capacity Greater focus on branded portfolio Increasing Global Presence Page 18

19 Appendices

20 Market and Ownership Overview
Top Holders (1) Shareholding Pattern (1) Ruchi Soya Industries Limited Detail of other then Promoters shareholders holding more then 1% Sr. No Name of the shareholder as on no. of shares % of holding 1 VS Net Ltd. 6.59 2 Sawit Plantations PTE Ltd. 5.88 3 Cresta Fund Ltd. 4.50 4 Albula Investment Fund Ltd. 4.32 5 Aiwo Ltd. 3.33 6 Elara India opportunities Fund ltd 2.93 7 Merdale Investment Co. Ltd. 1.27 8 Clemfield Industries Ltd. 1.20 Total 30.04 Capital Market Data Equity Capital Face INR 2 INR 667Mn Closing Price(3) INR 90.85 52 Week – High – Low INR (H) INR (L) No. of shares outstanding (Mn) 332.52 Market Capitalization(2)(3) INR Bn (US$ 592 Mn) Indexed Stock Price Performance - 5 years 158% Page 20 Source: Company filings

21 Summary Financials – Consolidated
INR Mn FY 12 # FY 11 # FY10 FY09 FY08 FY07 Consolidated Profit and Loss statement Total Revenue 306,125 183,729 143,943 127,423 117,202 90,695 EBITDA 10,080 7,173 4,443 2,905 4,385 3,034 PBT 1,957 3,381 2,809 1,572 2,639 1,610 PAT 869 2,252 1,749 975 1,658 1,036 Consolidated Balance Sheet Net Fixed Assets Incl. CWIP 27,375 24,165 20,942 14,137 12,017 10,780 Current Assets, Loans and Advances 116,403 84,951 57,709 49,951 51,369 32,185 Current Liabilities and Provisions 111,974 79,401 34,148 32,739 31,817 17,358 Loans 62,185(*) 45,124(*) 24,561 18,515 19,898 16,091 Share Capital 687 685 (2) 825 (2) 1,055 1,054 817 Reserves and Surplus 21,553 21,393 18,638(3) 11,005 10,199 8,219 Page 21 Source: Company filings (* ) Including short term loans of INR Mn, (FY12) & INR 17616Mn (FY11) which are guaranteed by banks against fixed deposits in the banks (#) Figures are as per the revised schedule VI requirements. Share capital takes into account redemption of preference shares capital in FY 10 , conversion of share warrants and share capital suspense on amalgamation into equity shares in FY 11. Includes increase on account of revaluation of fixed assets pursuant to scheme of amalgamation

22 Summary Financials - Consolidated
Revenues EBITDA INR Bn 5 year CAGR of 27% 5 year CAGR of 28% Net Worth(1) Total Assets 5 year CAGR of 28% 5 year CAGR of 20% Page 22 Source: Company Filings Net Worth takes into account the redemption of preference shares and revaluation of fixed assets pursuant to scheme of amalgamation. # Figures as per the revised schedule VI requirements.

23 Soybean extraction plant
Process Flow Diagram Soybean extraction plant Beans Cleaning, Cracking, Dehulling, Conditioning, Flaking Full Flat Flakes Oil Extraction Toasting Crude Soyabean oil Defatted Soya Flakes Grinding/Grading Refining Grinding Soya Flour Refined Soya Oil Soya Meal Extrusion Hydrogenation Textured Soya Protein Vanaspati Page 23

24 Abbreviations Abbreviations Used Description FY Financial Year Mn
Million Bn Billion yr Year MT Metric Tonnes MTPA Metric Tonnes per annum BSE Bombay Stock Exchange NSE National Stock Exchange INR Indian Rupee US$ United States Dollar USDA FAS United States Department of Agriculture Foreign Agricultural Service IMF International Monetary Fund Page 24

25 THANK YOU!


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