Investor Presentation - Jan 2018 R - VANS Gypsum

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Investor Presentation - Jan 2018 R - VANS Gypsum
R

Investor Presentation
       Jan 2018
Investor Presentation - Jan 2018 R - VANS Gypsum
TABLE OF CONTENTS
     Industry Over View
     About Gypsum and wall plaster
     About VANS GYPSUM
     Management Team
     Organization Structure
     Product Suite
     VANS Ceiling Tiles
     Gyplast
     Gypbond
     Product Competitor Comparison
     SWOT
     Financials
     Business Indicators
     Key Clients and Customer Orders
     Marketing and Communication
     Test Reports
     Annexures
                                        2
Investor Presentation - Jan 2018 R - VANS Gypsum
INDUSTRY OVERVIEW

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Investor Presentation - Jan 2018 R - VANS Gypsum
INDUSTRY OVERVIEW

 The global gypsum market is valued to reach 2.4 Billion USD by 2018 and 3.8 Billion USD by 2026. The real drive for
  growth lies in Asia, particularly in China and India, where construction and infrastructure work has exploded in recent
  years. It is expected that Asia will surpass North America to be the world’s largest gypsum board production base, lead
  by China. The Companies that can dominate includes BNBM, German Knauf, Australian BORAL and French Saint-Gobain.

 In India, gypsum reserves are located in Gujarat, Rajasthan, Jammu and Kashmir, Himachal Pradesh, Tamil Nadu and
  Uttar Pradesh. About 90% of India's total gypsum production comes from western and north-western Rajasthan.
 At present, usable gypsum reserves in India amount to 140 – 150 Million Tonne, of which around 125 Million Tonne is
  available to the cement industry. These numbers are for Rajasthan and Gujarat, as reserves in other states areunusable.
 On the back of rising demand from industries such as construction, ceramic, cement etc., the India gypsum market is
  poised to grow significantly in the coming years. Government is also backing the industry by allowing up to 100% foreign
  direct investment (FDI) for gypsum products. As a result, FDI inflows to gypsum products industry in India have
  registered significant growth in the last few years.
 Moreover, with ongoing rapid infrastructural developments, the country’s gypsum consumption is rising briskly. To
  match up this growing demand, Indian cement makers are now looking for acquisitions of overseas gypsum mines as a
  valuable option. The country is thus anticipated to witness huge growth in gypsum consumption.

Source: *www.smithersapex.com
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Investor Presentation - Jan 2018 R - VANS Gypsum
GYPSUM TILES, BOARDS AND WALL PLASTER
 Relevance of gypsum usage in India (other than for cement industry)
 Gypsum Boards
 Gypsum board is the technical product name used by manufacturers to define a specific gypsum-core board material that is typically
 installed on the walls and ceilings of the interior or exterior of a residential or non-residential structure. Drywall and plasterboard are non-
 technical synonyms for gypsum board. Gypsum board is the premier building material
 for wall, ceiling, and partition systems in residential, institutional, and commercial structures. Gypsum products provide fire resistance,
 sound control, economy, versatility, quality, and convenience.

 Gypsum Tiles
 Ceiling suspension systems (Gypsum Tiles) are composed of a lattice that is suspended from the ceiling by string or wire. Ceiling tiles are
 laid upon the lattice. Suspended ceilings are often used in offices and commercial buildings. Different gypsum ceiling tile designs provide
 different acoustical and aesthetic qualities. They are available in many varieties. The installation of the tiles is not difficult, but the
 installation of the suspension system is generally performed by professional installers. Gypsum Tile has become a material of choice in
 construction industry because of its unique properties. It has excellent insulation properties both thermal and acoustic and can offer very
 good passive fire protection, moisture resistance, impact resistance and vapour control when used in combination with the right systems.

 Gypsum Wall Plaster
 When a wall is constructed with brick or block, they are finished with a coat of plaster which is called internal plastering. Internal
 plastering has traditionally been done through a process of sand-cement plastering finished with POP pruning. This is a two stage process
 and involves multiple elements like sand, cement and water which is mixed onsite. This form of plastering is being slowly replaced by a
 direct single coat application of gypsum plaster. So gypsum plaster is actually a replacement of two processes i.e. sand cement plastering &
 POP punning. Gypsum plaster is produced as a result of calcinations of the raw gypsum in an automatic kettle under controlled
 temperature.
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Investor Presentation - Jan 2018 R - VANS Gypsum
Gypsum Boards

Gypsum Tiles

               Wall Plaster
                                          6
Investor Presentation - Jan 2018 R - VANS Gypsum
GYPSUM PRODUCTS AND THEIR USAGE

      Plasterboards                     Decorative Plaster                  Building Plaster

           Used for Partitions and       Used for creating decorative
                                       lining for brick and block walls,       Used for walls and
              the lining of walls,
                                                and for ceilings                   ceilings
          ceilings, roofs and floors

             Gypsum Tile                 Gypsum Screeds                    Gypsum Fiberboards

          Gypsum tiles used for            Used for self-levelling            Used for partitions and
          False ceiling.                      floor screeds.                     the lining of walls,
      .                                                                      ceilings, roofs and floors

                                                                                                          7
Investor Presentation - Jan 2018 R - VANS Gypsum
FUTURE OUTLOOK

  India's domestic resources of gypsum are large enough to meet increased demand. The apparent domestic demand of gypsum was
  estimated at 8.71 million tonnes by 2016-17 at 9% growth rate as per the Report of the Working Group for 12 plan, Planning
  Commission of India, which has already surpassed the Planning Commission estimates during 2015-16. The consumption of
  gypsum (all industries) during 2015-16 was about 10.31 million tonnes.

  With renewed focus on improving the economy and up scaling industrial developments, India lays greater emphasis on creation of
  the infrastructure. As per the Working Group report, augmentation of infrastructural activities will endanger further growth of the
  Cement Industry which concomitantly will raise the consumption of gypsum and thereby its demand, with consequence, leading to
  increased dependence on imports and synthetic gypsum to meet cement demand. Further, as per the report, steps would be
  necessary to find out suitable mining technology to exploit, deep-seated gypsum resources in Bhadvasi deposit, Nagaur district
  Rajasthan. State-of-the-art-technology needs to be adopted for the exploitation of deep-seated gypsum.

  Other segments that would attract attention would be production of gypsum wallboard which is currently negligible in India. It
  could find better prospects because of its light weight and other special characteristics. It being an excellent partition material
  could facilitate its utility in high rise building constructions. In view of the environmental problem arising from huge accumulation
  of phospho-gypsum at different fertilizer plants, possibilities of finding other possible means for its utilisation has become a
  necessity. Low-grade gypsum being cheaper could find better prospects in its application more as a
  soil conditioner for reclamation of alkaline soils.

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Investor Presentation - Jan 2018 R - VANS Gypsum
VANS GYPSUM PVT LTD

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Investor Presentation - Jan 2018 R - VANS Gypsum
INTRODUCTION

 VANS Gypsum Pvt Ltd (Vans Gypsum) is a manufacturer of a unique range of Glass Reinforced Gypsum (GRG) False ceilings,
  Wall plaster and Gypsum Ceiling Boards

 In 2010, VANS Gypsum took over GSP Manufacturing Company, a UK-based company with over 40 years of experience in
  the industry and a presence in over 30 countries across the globe.

 The Company brings range of products to India with its headquarters in Mumbai and Sales headquarters in Chennai &
  branch offices in Bangalore, Pune and Mumbai and distribution networks in Andhra Pradesh and Kerala.

 Manufacturing plant is located at Kapoli, Pune, which has a production capacity of up to 5 mn square feet per month.

 The company gives strong emphasis on preservation of environment and therefore all products manufactured are from
  Pure Virgin Gypsum with Glass-fibre Reinforcement and is 100% recyclable

   -   Helps to replace sand and unavailable        commodity , which are predominantly         used in the interior of
       the walls
   -   Manufacturing eco- friendly ceiling tiles

                                                                                                                          10
MANAGEMENT TEAM
Mr. Vijay Parekh, Chairman
Mr. Parekh is a well-known name in global banking circles with an illustrious career spanning 25 years. He has served as President of American Express Company
(International) & Vice-Chairman & Board Member of American Express Bank. As COO and Sr. MD, Temasek Holdings, the sovereign wealth fund of the Singapore
government, he has steered its global investment portfolio of billions of dollars. His global stature and expertise gained across varied functions in world leading
financial services companies, positions him as a key resource to provide direction and inspiration to SVCL.

Mr. Parimal Ghelani, Director
25 years of experience in manufacturing, development and trading, he possesses expertise in technology & manufacturing of Vans Gypsum ceiling tiles. He was
instrumental in the negotiation and taking over of GSP Greens, UK. He plays a principle role in the running of the manufacturing facility at Kapoli, Pune. His expertise
in the technology and manufacturing of VANS Gypsum ceiling tiles makes him indispensible in delivering value and aesthetics to our customers.

Mr. Peter Raj Kapoor, Director
Mr. Peter Raj Kapoor is an entrepreneur, who has established a number of very successful companies in luxury lifestyle, Payment Services across Asia Pacific,
Australia and in India. Mr Kapoor has also diversified business interest in high end building construction materials which is now widely used across leading Builders
in India. He is Managing Director of Luxury Hues Group, Radiant Hues Group and Chairman & Managing Director of Radiant Hues Group Pte Singapore
He has over 25 years of Management, Marketing and Sales Experience with P&L responsibility across large geographies within the Asia Pacific Region as well as
managing multi functional teams. From June 2003 to 2010, he was the VP & GM for Global Merchant Services at American Express International. Through the
introduction of a series of innovative initiatives and strategic partnerships, he significantly grew American Express share in several Asian markets. In addition, he
was the Strategic Head for Merchant Sales for Japan, Asia and Australia from 2007-2009. Prior to 2003, he was the Head of the Merchant Business in India. Mr
Kapoor has been associated with American Express for over 20 years and is well known within the Card Industry across the Asia-Pac region

                                                                                                                                                                        11
BUSINESS HEADS
Mr. Atul, Vice president
An accomplished Marketing Professional, drove ambitious benchmark-setting, growth & expansion in operations & businesses with nearly 30 years of experience in
Indian & International markets. Achievement-driven with outstanding cross-cultural experience & domain like Organic Business Growth, Profit Centre Operations,
People Management and Sales & Marketing being the major ones. Commenced career with “Construction Building Materials industry” with “Leading Indian
business house – Birla Group” then with “UK multinational- BPB Gypsum Ltd.” & later on growth patch in “French multinational-Saint-Gobain Group” which
offered wide exposure on diverse technologies and environments.

Mr. Hema Mohan, General Manager
Mohan is a seasoned sales professional with over 20 years’ experience representing various building materials viz. sanitaryware, tiles, tile adhesives, wall putty and
wall plasters across South India. As a thought leader, he has spearheaded strategic sales planning and has substantially increased the revenue potential in highly
competitive markets. His strong commercial acumen with an untiring commitment has gone a long way in his key account management, large-scale contract
negotiations, order fulfillment and developing new account relationships. Mohan heads the sales team of Tamilnadu, Andhra Pradesh and Telengana. This
management graduate believes in the saying “Hard work pays; performer stays!”

                                                                                                                                                                    12
PRODUCT SUITE

                13
PRODUCT PROFILE

                     CEILING TILES

                  GYPSUM WALL PLASTER

                      GYPBOND

                                        14
VANS CEILING
   TILES
CEILING TILES – KEY FEATURES
VALUE AND AESTHETICS THAT LAST FOREVER

                                          • DURABLE
                           LONG LASTING   • SAG RESISTANT
                                          • STRONG

                               ENERGY     • SAVES ON LIGHTING
                              EFFICIENT   • HEAT EFFICIENT

                               NOISE      • BETTER NOISE REDUCTION
                             REDUCTION

                                          • BETTER LOOKS
                               GREAT      • LASTING BEAUTY
                             AESTHETICS   • CUSTOM DESIGNED TILES

                                                                     16
CEILING TILES – KEY FEATURES
ECO-FRIENDLY: Enhancing productivity through a safe, healthy and happy work place

                                                      • FIRE RESISTANT
                        LONG LASTING                  • EMISSION FREE ENVIRONMENT
                                                      • NO CARCINOGENIC MATERIALS

                                                      • BACTERIA RESISTANT AND FUNGUS PROOF
                       GREAT INDOOR AIR
                                                      • DUST FREE
                           QUALITY                    • NATURAL GYPSUM

                       NOISE REDUCTION,               • QUIETER WORK PLACES
                         BRIGHT AND                   • BRIGHTER WORK PLACES
                        COMFORTABLE                   • COMPFORTABLE TEMPERATURE

                                                                                              17
CEILING TILES - TYPES

           Classic             Open Cell   Selects

           Elegant      Signature Dome     Concealed

                                                       18
KEY CEILING TILES PROJECTS
                             •   Presidency college
                             •   Manipal College
                             •   NGP College
                             •   Ramaiah Dental College
                             •   Mirage
                             •   MIOT Hospitals
                             •   GVR Tech Chennai,
                             •   Meiban Engineering
                             •   Nexg Space Creators
                             •   Atmosfaira Impex Pvt Ltd
                             •   Nspira Management Services Pvt Ltd
                             •   VGN
                             •   Nissan
                             •   Michelin
                             •   Infosys
                             •   New Gen Digital Works Pvt Ltd
                             •   DLF IT Park

                                                                      19
VANS GYPSUM
WALL PLASTER

               20
VANS GYPLAST

 VANS Gyplast is a pure gypsum based plaster suitable
  for most internal wall & partition surfaces including
  brick, block and concrete.

 It consists essentially of pure gypsum hemihydrate
  formulated with special additives to control working
  and setting characteristic. It contains pure gypsum in
  natural form also eliminated from all impurities.

 It gives plaster an unmatched workability because of its
  smoothness, coverage and ease of application. It dries
  to provide super white, smooth and fine finish for
  painting.

 VANS Gyplast provides great wall finish with reduced
  time and cost to the customer.

                                                             21
VANS GYPLAST – KEY FEATURES

   VANS Gyplast can be directly applied, single coat application
   Crack Free - Free from shrinkage, crack and powdering
   High coverage up to 92 m2/t
   Excellent strength on drying- Ultra white and smooth finish
   Enhanced light reflection- Imparts true colour tone and gloss for paint
   Compatible with any type of paint
   Humidity resistant- Highly resistant to moisture
   Hygienic - Does not allow bacteria or fungus getting formed on it
   Fire & Humidity Resistant
   Lightweight & Thermal resistance
   Thickness can go up to 32mm for wall and 10 mm for ceilings
   Affordable with 12 months shelf life

                                                                              22
COMPARISON CHART

        Product    Direct        Line &   Smooth   Time     Quality     Water       Shrinkage
                   Application   Level    Finish   Saving   Assurance   Curing      Cracks
      Comparison
     Sand Cement
        Plaster                      -       -         -          -
                                                                         Does Not
         POP            -                              -          -       Require

     VANS GYPSUM                                                         Does Not    Do not
        Plaster                                                           Require    Appear

                                                                                                23
KEY GYPLAST PROJECTS
 Company Name   Prestige Group          DLF                                            CEEBROS            Ozone Group
 Project Name   Prestige Bella Vista    Commander’s Court    SNN Engineering College   The Atlantic       The Metrozone
 Location       Chennai                 Chennai              Chennai                   Chennai            Chennai

 Company Name   Prestige Group          Prestige Group       Embassy Group             Embassy Group      DAN hotels
 Project Name   Prestige Sunrise Park   Prestige Lake Side   Embassy Lake Terraces     Embassy Pristine   DAN Hotels
                                        Habitat
 Location       Bangalore               Bangalore            Bangalore                 Bangalore          Bangalore

                                                                                                                          24
GYPLAST PROJECT LIST

 Project Name           Developer/Contractor   Project Name                  Developer/Contractor
 Bella Vista            Prestige Group         Ashraya                       BBCL
 Commender Court        DLF                    O2 Square                     Seyes Properties
 Opaline Sequal         Olympia Group          PBSR Smondo                   Capacite Infra
 Emami Tejomaya         Emami Reality          Incor- One City               Tata Projects
 Atlantic               Ceebros                Jyothi Cosmos                 Vamsiram Builders
 174                    Ceebros                Avalon                        Manbhum Construction
 Metrozone              Ozone Group            Prestige Lakeside Habitat     Prestige Group
 Messeys                Casa Grande            Prestige Sunrise Park         Prestige Group
 Aristo                 Casa Grande            Embassy Lake Terraces         Embassy Group
 Aurum                  Pacifica               Embassy Pristine              Embassy Group
 Krona                  VGN                    Brigade Panorama              Brigade Group
 Stafford               VGN                    Ankshu Ecstasy                Green Earth Projects
 Costa                  VGN                    Kumar Prince Ville            Kumar Properties
 Temple Town            VGN                    Fortius Infra Under the Sun   Fortius Infra
 Green Woods            Sristi                 Classic Land Mark             Classic Group
 Risington              Doshi Housing          Aswani Sunshine               Aswani Properties
 SBIOA- Unity Enclave   State Bank of India    Godrej Eternity               Godrej Properties
 Blossom                Advait Homes           Golden Gate Panorama          Golden Gate Properties
 Iris                   Mahindra Lifespace     East Point                    Assetz Property Group
 Vajra                  BBCL                   Prestige Falcon City          Prestige Group
 Navarathina            BBCL                   Vaishnavi Terraces            Vaishnavi Group
 Aswani Aesha           Aswani Properties      Prince Town Royal             Marigold Properties

                                                                                                      25
GYPBOND
VANS GYPBOND

Gypbond is a ready-to-use internal plaster bonding agent with added aggregates, used as a primer/bonding aid
prior to plastering on surfaces such as concrete, plaster and difficult, low or non-porous substrates.

                                                 WHY
               Bonding agent for               GYPBOND?                       No hacking on
               smooth surfaces                                                    wall

                Ready to use, one              Phthalate free               Perfect for use on
                 cost application               formulation                 smooth substrates

                                                           27                                                  27
BENEFITS TO KEY STAKEHOLDERS

             BUILDERS                            APPLICATORS                                 END USERS
  Green material                        Easy to apply with smooth and            No shrinkage cracks on walls
                                          consistent paste                          and ceilings
  Quality offering-Shrinkage crack
   free surfaces - smooth finish         Enhanced coverage – better per           Reduction in the time required
                                          day productivity                          for plastering and this helps in
  High productivity – faster work                                                  timely possession of homes
   (Reducing plastering time by          Smooth and super white finish
                                                                                   Perfectly lined, leveled, smooth
   70% )                                  – customer appreciation &
                                                                                    walls
                                          work satisfaction
  No water curing required                                                        Saving on electricity used for air
                                         100% natural product without any
  Performance – Durability, light                                                  conditioning as gypsum has
                                          lime content – safe, non
   weight (Reduces dead load on                                                     very low thermal conductivity
                                          hazardous to skin and health
   structure)
                                         Available in Quick setting
  Cleaner sites - direct application
                                          formulation- efficient workability in
   bagged product
                                          cold and moist climatic condition

                                                                                                                         28
SWOT ANALYSIS

                29
SWOT ANALYSIS

  Strength :                                                            Weakness:

     Eco – friendly products                  Strength      Weakness      Low Brand visibility
     Diversified client base                                              Acceptability of Product
     Strong Management team

  Opportunities :
                                             Opportunities    Threats
                                                                        Threats :
     Introduction of new products and
      services (Metal Frame &
      Accessories, Jointing and Finishing)                                 Competitive Market

     Opportunity to tap B2C market and                                    Rising cost of raw materials
      expand the institutional client base                                 Increase in skilled labor costs
     Enter new geographies within India
                                                                                                           30
FINANCIALS &
BUSINESS INDICATORS

                      31
FINANCIAL STATEMENT
   Income Statement (INR mn)
    Particulars                                  FY2013 (A)   FY2013 (B)      FY2015 (A)   FY2016 (A)    FY2017 (A)

    Revenue                                        17.29        49.11           69.25         80.55        105.58
    Growth%                                                     184%             41%        16.31%        31.07%
    EBITDA                                         -8.39        -39.42            4.72         6.45          5.73
    EBITDA Margin                                   Nm           Nm              6.8%        8.02%         5.59%
    PAT                                            -8.75        -40.05            1.60         3.45          2.14
    Pat Margin                                      Nm           Nm             2.3%         2.49%         1.18%
   Balance Sheet (INR mn)
    Particulars                                  FY2013 (A)   FY2014    (A)   FY2015 (A)   FY 2016 (A)   FY 2017 (A)

   Net Worth                                       -32.12       -72.06          -72.12       -53.81        -51.64
   Long Term Current Liability Loan & Advance       7.79        52.53           72.24        76.27         77.09
   (Associate Concern)

   Long Term Trade Payable (Associate Concern)     23.14        23.14           29.67        26.14         30.00

   Other Trade Payable & Current Liabilities        1.66         6.47           16.44        56.02         34.52

   Non Current Assets                               1.09         3.93           17.84        33.81         46.74
   Current Assets (excl. cash)                     14.70        40.54           43.08        46.64         44.33

   Net Current Assets                              -18.89       -60.71          -75.87       85.65         97.28
   Cash                                             1.30         0.37            1.94         0.43          1.07

   Total Assets                                    17.10        44.85           62.87        80.89         92.15
                                                                                                                       32
VANS GYPSUM- INCOME PROJECTION
                                                   2016-17      2017-18      2018-19      2019-20
                Y/E MARCH INR (Million)
                                                    Actuals   Projection   Projection   Projection
  SALES                                              121.2         168.4        225.8        291.2
  Change %                                              27          38.9         34.1         29.0
  Gross Margin                                         28.5         39.6         53.1         68.4
  GM %                                                  24            24           24           24
  Opex                                                 23.5         25.8         28.4         31.3
  Marketing Cost                                          0            5            6            7
  Earning before interest, taxes, depreciation &
  amortization                                         5.0          8.8         18.7         30.1

  EBITDA Margin (%)                                     4.1          5.2          8.2        10.3
  Depreciation                                          4.5            4          3.5           3
  EBIT                                                  0.5          4.8         15.2        27.1
  Interest                                                0            0            0            0
  Profit before tax                                    0.5           4.8        15.2          27.1
  Tax                                                   0.1         0.96         3.04        5.42
  Tax/PBT (%)                                        0.41%        2.85%        6.73%        9.30%
  Profit after Tax                                     0.4           3.8         12.2         21.7

                                                                                                     33
CAPITAL STRUCTURE
  CURRENT STRUCTURE
                    Shareholders   No of Shares   % Holding
  VANS Pte Ltd (Singapore)               15,621       49.0%
  Vijay Parekh                            8,310       26.0%
  Peter Raj Kapoor                        4,770       15.0%
  Parimal Ghelani                         3,200       10.0%
  Total                                  31,901      100.0%
  PROPOSED STRUCTURE

                    Shareholders   No of Shares   % Holding
  VANS Pte Lte                           15,621       39.1%
  Vijay Parekh                            8,310       20.9%
  Peter K Kapoor                          4,770       12.0%
  Parimal Ghelani                         3,200        8.0%
  New Investor                            8,000       20.0%
  Total                                  39,901      100.0%

                                                              34
VANS
GYPLAST SALE
GYPLAST SALE IN METRIC TONNES
   14000
   12000
   10000
    8000
    6000
    4000
    2000
       0
                Mumbai             Pune              Bangalore                 Hyderabad                     Chennai                  Total
                         April 2015 March 2016        April 2016 March 2017                   April 2017 March 2018
                                                                 Actuals April 2017 - Dec   Projections Jan 2018 -
                              FY 2015-16         FY 2016-17               2017                   March 2018          FY 2017-18 (P)      % B/W
           Mumbai                 539                982                  849                        750                1,599             63%
           Pune *               2,529              2,840                1,321                      1,200                2,521             -11%
           Bangalore *          4,032              4,860                2,284                      1,500                3,784             -22%
           Hyderabad                -                669                  625                        600                1,225             83%
           Chennai              1,664              2,639                2,419                      1,350                3,769             43%
           Total                8,763             11,990                7,498                      5,400               12,898              8%
           *Tightened supply due to risk criteria in Pune and Bangalore
                                                                                                                                                 36
GYPLAST SALE (IN INR)
   Value in Million
   120.00
   100.00
    80.00
    60.00
    40.00
    20.00
       -
                  Mumbai             Pune                 Bangalore               Hyderabad                          Chennai           Total
                                             FY 2015-16       FY 2016-17           FY 2017-18 (P)
                                                                 Actuals April 2017 - Dec   Projections Jan 2018 -
                              FY 2015-16         FY 2016-17               2017                   March 2018           FY 2017-18 (P)   % B/W
                Mumbai                4.73              7.70                    6.92                     6.11                   13      69%
                 Pune                20.49             22.49                   10.06                     9.14                   19      -15%
               Bangalore             41.84             51.82                   22.48                    14.77                   37      -28%
               Hyderabad                 -              6.31                    5.81                     5.58                   11      80%
                Chennai              15.15             21.91                   22.33                    12.46                   35      59%
                 Total               82.21            110.24                   67.61                    48.06                  116       5%
            *Since 01st July 2017, Sales price includes 5% GST viz 14% leveid as VAT in previous month & year.
                                                                                                                                               37
GYPLAST SALE PROJECTION (IN METRIC TONNES)

                           GYPLAST Sale Projection in Metric Tonnes
          35,000
                                                                            31,250
          30,000
                                                             25,000
          25,000
                                          20,000
          20,000
                        16,000
          15,000

          10,000

           5,000

               -
                      FY 2018-19       FY 2019-2020       FY 2020-2021   FY 2021-2022
      Metric Tonnes     16,000            20,000             25,000         31,250
                                          Metric Tonnes

                                                                                        38
GYPLAST SALE PROJECTION 2018 (IN INR)

                                                      INR (million)
     300

     250

     200

     150
                                                                                                       INR (million)
     100

      50

      -
                FY 2018-19            FY 2019-20                FY 2020-21            FY 2021-22

      Projections            FY 2018-19            FY 2019-20            FY 2020-21       FY 2021-22
      INR (million)              136                   170                   212              265

                                                                                                                       39
GYPLAST NET YIELD PER KILOGRAM
    Period: Jan 2017 - Dec 2017
    Value in INR
                                                             Cost of Material
                         Selling Price         Yield *                          Net Yield **   Margin
                                                               + Shipping
     Mumbai                  8.14               6.21               4.45            1.76         22%
     Pune                    7.61               6.21               4.45            1.76         23%

     Chennai                 9.23               7.72               5.45            2.27         25%
     Bangalore               9.84               7.80               5.45            2.35         24%
     Hyderabad               9.30               6.81               5.00            1.81         19%
     Total                   8.98               7.22               5.11            2.11        23.5%

     * Yield = Selling Pricing Less Transport, VAT/GST, Loading/Unloading
     ** Net Yield = Yield Less Cost of Material, Shipping and Custom Duty

                                                                                                        40
VANS
TILE SALES
VANS CEILING TILE SALE

     Priority Cities
                                                                   FY 2016            FY 2017          Growth (%)
     Mumbai, Bangalore, Chennai, Pune, Hyderabad

     SALES in Sqft                                                        121976            173612              42.3%

     SALES in INR (Million)                                                   4.76              5.20                 9%

     Selling price per sqft (INR)                                            39.00            30.00         -

      * Average selling price was reduced in 2017 with launch of classic series Tiles for large space requirement.

                                                                                                                          42
VANS CEILING TILE SALE PROJECTION

    Priority Cities
                                           FY 2017          FY 2018     FY 2019     FY 2020
    Mumbai, Bangalore, Chennai, Pune,
    Hyderabad
                                                      Q1    1,80,000    3,60,000    6,00,000
    SALES in Sqft                          1,73,612   Q2    2,40,000    4,20,000    6,00,000
                                                      Q3    3,00,000    4,80,000    7,20,000
                                                      Q4    3,60,000    6,00,000    7,20,000
                                   TOTAL   1,73,612        10,80,000   18,60,000   26,40,000
    SALES in INR (Million)                     5.20           32.40       55.80       79.20

    Selling price per sqft (INR)             30.00            30.00       30.00       30.00

                                                                                               43
TILE NET MARGIN

     Value in INR
                      Selling Price Cost of Material Glass Fibre, Packaging and Frieght &    Net       Margin %
                                                               Labour              TAX      Margin

          VANS TILE           30.00            5.11                      10.00       7.00       7.89        26%

                                                                                                                  44
KEY CLIENTS

              45
KEY CLIENTS

              Diversified client base over various sectors proves strength in company’s product
                                                                                                  46
KEY CLIENTS

              47
ORDER COPIES

               48
ORDER COPIES

               49
MARKETING & COMMUNICATION

                            50
EDM- WALL PLASTER

                    51
EDM- GRG CEILING BOARDS

                          52
EDM- GRG CEILING TILES, WALL PLASTER & GYPBOND

                                                 53
TEST REPORT

              54
TEST REPORTS

               55
TEST REPORTS

               56
TEST REPORTS

               57
ANNEXURE

           58
ORGANIZATION STRUCTURE
                                                                                                      Vijay Parekh
                                                                                                      (Chairman)

                                              Peter Raj Kapoor                                                                                   Parimal Ghelani (Director)
                                                 ( Director)                                                                                  (Global procurement & Imports)

                      General Manager         General Manager                       Atul Garg
                          South II                South I
                      (Suresh Kumar)          (G.Hema Mohan)                   Vice President Sales              Accounts / Admin      Logistics        Marketing              Production
                         Bangalore              Tamil Nadu /                      Head of Tiles                      Team
                                                 Hyderabad

                         G.Vinod            M.Ganesha Moorthy     Abhijeet Srivastava         Salman Kadri           V.B.Shijosh     Udayakumar          KANNAN            Manoj Vora
                    Area Sales Manager      Area Sales Manager     Dy. RSM (Pune)             RSM (Mumbai)            (Chennai)      Asst.Manager        Marketing      Head of Production
                                                                                                                                       (Chennai)          Manager

                    Vishal Raju Islampure         X.Jarald          Jahangeer Raj          Mahesh VijayPailwan   Neeta Thoravase
                         Technical          Area Sales Manager      Dy. RSM (Pune)          ASM (Mumbai)             (Mmbai)         Avinash Sonu                        Bhushan Sonavane
                        Coordinator                                                                                                      Pawar                               Head of
                                                                                                                                       Manager                             Manufacturing
                                                                                                                       Sudha          (Mumbai)
                                            Shunmuga Sundaram       Tinkoo Kumar             Open Position
                                                                                                                     (Chennai)
                                             Area Sales Manager   Area Sales Manager         ASM (Mumbai)
                                                                        (Pune)                                                                                              Kunal Desai
                                                                                                                     Srinivasa Rao   Vivek Balram                       Quality Assurance &
                                                 Pavan Kumar                                                         (Bangalore)        Shrike                          Packing Supervisor
                                                  Mailarapu                                                                            Manager
                                             Area Sales Manager                                                                       (Khopoli)
                                                                                                                   Vijay Sundar                                          Akash Dilip Jadhav
                                                (Hyderabad)
                                                                                                                   (Ghatkopar)                                          Assistant Supervisor

                                            E.Chandra Sekhar                                                     Avinash Ganpat
                                                   Goud                                                           (Ghatkopar)
Note :                                         Sales Manager
Current staff strength 31                       (Hyderabad)
Count does not include factory staff
                                                                                                                                                                                               59
VANS TILE SPECIFICATION

                         Calcium                Mineral Fibre                     Other Gypsum
    Characteristics                                                                                         VANS Gypsum Ceilings
                         Silicate Ceilings      Ceilings                          Ceilings

                                                Ranges between RH 90 and RH
                                                                                                            RH 96
                                                100 and come with a 10 -15        RH 90
    Humidity                                    year guarantee. These tiles,                                Tiles do not retain absorbed
                         RH 100
                                                however, do absorb water          Reliable as the product   moisture
    Resistance
                                                when in direct contact with it.   is Gypsum
                                                Max. Value of RH 100
                                                                                                            30 year anti-sag warranty

                         Class 0/ class1        Class 0/ class1                   Class 0/ class1           Class 0/ class1
    Fire Resistance      under BS 476           under BS 476                      under BS 476              under BS 476
                         part VI & VII          part VI & VII                     part VI & VII             part VI & VII

     Light Resistance    > 85%                  > 85%                             > 75%                     ≤93%

                                                                                  0.10 to 0.75              0.76
    Sound                0.10 to 0.75           0.10 to 0.75
                                                                                  depending on              Up to 0.90 for Acoustic
    Absorption(NRC)      depending on product   depending on product
                                                                                  product                   Range

     Sound Attenuation   32 Db                  34 dB                             28 dB                     38 Db

                                                                                                                                           60
VANS TILE SPECIFICATION

                                 Calcium          Mineral Fibre       Other Gypsum
     Characteristics                                                                     VANS Gypsum Ceilings
                            Silicate Ceilings       Ceilings             Ceilings

     Thermal Conductivity      0.043 w/mC           0.057/w/mC          0.16/w/mC                0.45 w/mK

                                                                                            600mm X 600mm X
                            600 mm X 600 mm      600 mm X 600 mm      600mm X 600mm
     Size                                                                             (7 / 8 / 9 / 11 / 12 / 15 / 20 / 24
                                X 15 mm          X 12 / 15 / 19 mm      X 9 / 12 mm
                                                                                                / 29 / 34) mm

     Edge                   Square and Tegular   Square and Tegular     Only Square         Square and Tegular

                                                                                      2.20 – 2.50 Kg / tile (7 – 9 mm)

                                                                                      2.50 - 2.80 Kg/tile (12 mm)

     Weight                    5-5.5 Kg/m2           3.8 Kg/m2          12.5 Kg/m2    2.50 - 3.00 Kg/tile (20mm)

                                                                                      3.30 - 4.00 Kg/tile (29 mm)

                                                                                      5.40 Kg/tile(34mm)

                                                                                                                            61
GYPLAST PRODUCT SPECIFICATION

  Physical Property
                      Dry Bulk   Wet Bulk        Initial Setting   Final Setting     Compressive         Compressive         Approx.
                      Density    Density         Time              Time              Strengths (24       Strengths (48       Coverage*
    Parameters
                                                                                     Hours)              Hours

                      667-695    1.32 – 1.46     14-18             24-26             43.80 kgf/cm2 44.12 kgf/cm2 87-92 m2/t
        Unit          Kg/m3      gm/cm3          Minutes           Minutes

  Chemical Property
                Silicon   Aluminum   Iron(III)   Calcium    Diphosporus       Manganese       Sulphur      Sodium        Potassium   Loss On
   Parameters   dioxide   Oxide      oxide       Oxide      Pentoxide         oxide           Trioxide     oxide         oxide       Ignition
                (SIO2)    ( AI203)   (Fe203)     (CaO)      (P205)            (Mn0)           (So3)        (Na2O)        (K2O)       (L.O.I)

                0.07%     n.d.       n.d.        38.80%     n.d.              n.d.            54.60%       0.01%         0.01%       5.72%
      Unit

                                                                                                                                                62
GYPBOND SPECIFICATIONS

    Technical Details
    Specific Gravity     1.22g/ml
    Viscosity            6000 - 12000 cP
    Coverage             Depending upon surface porosity approximately . 7.5m2/ Kg

    Bonding Stress       0.65 N/mm2

    Drying Time          24 hours

    Adhesion             Good adhesion to cement/ precast concrete surface

    Shelf Life           2 years when stored in cool, dry conditions.

    Storage Conditions   Store in cool, dry conditions in the original sealed container away from
                         direct sunlight.
                         Store between 5°C and 30°C.

                                                                                                    63
THANK YOU

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