June 25, 2024

BSE Limited National Stock Exchange of India Ltd.

Phiroze Jeejeebhoy Towers, Exchange Plaza, C/1, Block G,
Dalal Street, Mumbai - 400001 Bandra-Kurla Complex, Bandra (E), Mumbai - 400051
Scrip Code: 500135 Trading Symbol: EPL

Sub. : Investor Presentation – EPL Limited (“Company”)

Ref. : 1. Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (as amended) (“SEBI LODR Regulations”)
2. ISIN: INE255A01020

Sir/ Madam,

This is in furtherance of the intimation dated June 19, 2024, whereby we had intimated the schedule
of the Plant Visit organised for the Analyst(s) / Institutional Investor(s), to be held on June 24, 2024
and June 25, 2024 (“Plant Visit”).

In that regard and in terms of the above referred provisions of the SEBI LODR Regulations, please find
enclosed herewith, the Investor Presentation of the Company which was presented to the Analyst(s)/
Institutional Investor(s) during the Plant Visit. The said Investor Presentation would also be made
available on the website of the Company i.e. https://www.eplglobal.com.

Please note that no unpublished price sensitive information was shared by the Company during the
Plant Visit.

This is for your information and records.

Thanking you.

Yours faithfully,
For EPL Limited

Onkar Ghangurde
Head - Legal, Company Secretary & Compliance Officer

Encl.: As above
1
Forward Looking and
Cautionary Statement
Certain statements in this release concerning our future prospects may be forward-looking statements, within the
meaning of applicable securities laws and regulations. These statements by their nature involve a number of risks,
assumptions and uncertainties that could cause actual results to differ materially from expectations. These risks and
uncertainties include, but are not limited to our ability to manage growth, intense competition among packaging
companies, various factors which may affect our profitability such as commodity prices, wage increases, currency
devaluations, our ability to attract and retain highly skilled professionals, manage our international operations,
reduced consumer demand for underlying categories, liability for damages on our contracts, changes in the
government regulations, laws, statutes, judicial pronouncements and/or other incidental factors in the domestic and
overseas markets in which the company represents, political instability, unauthorized use of our intellectual
property, pandemics, natural disasters and general economic factors affecting our industry. These forward-looking
statements represent only the Company’s current intentions, beliefs or expectations, and speak only as of the date
on which it was made. The Company assumes no obligation to revise or update any forward-looking statements, on
the basis of any subsequent developments, events, information or otherwise.

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Investors Day 2024
Agenda

01
Company Overview

02
Financial Performance

03
Going Ahead

3
Investors Day 2024
Agenda

01
Company Overview

02
Financial Performance

03
Going Ahead

4
Our
Vision

To be the most sustainable packaging

company in the world

5
World’s #1
Speciality Packaging Company
22bn EPL Share ~10%
Beauty, Beauty, Cosmetics &
Cosmetics & Pharma
Pharma

EPL
~20%
Global Market EPL Share ~35%
42bn Tubes 17bn
Oral Care
Oral Care

EPL Share ~8%

3bn Food, Home &
Food, Home & Industrial
Industrial
6
6
 2023: Brazil
Greenfield 2023
Rich Heritage
Industry Leading Innovation 2019: Acquired
2022: Launch
by Blackstone
of Neo Seam –
and rebranded
360-degree
as EPL
2022: Launch printing
40+ Years, 21 Plants, Entry into of Metallic reducing the
South America 2020 and impact of side
11 Countries and USA transparent seam
2020: Launch
versions of
of Platina,
Platina
100%
2014: Launch Laminate –
recyclable
of Etain Aesthetics
tube
laminate with
2002: Acquisition 2010
2012: Launch produced with sustainability
of Propack and
rebranding as of first ethanol Post consumer
Essel Propack based recycled plastic
sustainable
laminate
2000
1993: Egypt
1996: China
1996: Europe
1990: Colored
printing facility
on laminates
1982
22 Dec 1982 114 Patents Granted
Essel Packaging
Limited Founded 7 69 Under Process
 Oral
Global Beauty & Cosmetics
Pharma
Footprint Home
Industrial

11 5
Countries with Categories Served*
21 operational presence
3500+
State of the Art Employees
Manufacturing Facilities
Germany
8bn+ 25
Globally
USA Poland

Tubes Supplied Nationalities

UK*
Annually Represented

Europe AMESA
21% of Annual Revenue 34% of Annual Revenue
2 Plants | 600+ Employees 9 Plants | 1600+ Employees
Colombia Philippines

Americas India EAP

23% of Annual Revenue 22% of Annual Revenue
4 Plants | 700+ Employees China 6 Plants | 650+ Employees
Mexico

Brazil Egypt Indonesia** *all non oral categories will be

further referred to as
“Personal care & Beyond”
Our Biggest Moat
End to End Integrated

Laminate Printing Tubing Caps

• State of the art Blown Film • Flexo, Digital, Letterpress, Dry offset, • Plastic and Lami tubing lines– • In-House Injection Moulding
and Lamination Lines Screen, Foil Printing upto 500 tubes/minute
• In-house Graphics & plate making • Zero Defect workflow

Global Capabilities
All manufacturing facilities Digitized Processes like – eACT World class R&D centre in
Integrated on SAP S4 HANA (Artwork automation), Eprism (Global India
HRMS), etc.
9
Trusted Partner
for the world’s most trusted brands

20+ Years of Average

10 Relationship
Independent Board
Driving Governance & Performance

Davinder Singh Brar Shashank Sinha Sharmila A Karve Anand Kripalu

Board Chairman Independent Director Independent Director Managing Director & CEO
Former Director RBI, Former CEO - Strides Pharma Former Head Audit & Risk – Former CEO - Mondelez India
Former CEO - Ranbaxy Founder – Wabi Sabi Advisory PWC India Former CEO – Diageo India

Amit Dixit Dhaval Buch Animesh Agrawal Aniket Damle

Director Director Director Director

Senior MD & Head Private Senior Advisor - Blackstone MD - Blackstone Sr. Associate - Blackstone
Equity Asia – Blackstone Former Global Chief Procurement
Officer - Unilever
11
 Strong Management
Rich Mix of Vintage & Global Expertise

Anand Kripalu Ram Ramasamy Deepak Goyal Sonal Jain Kamlesh Jain
MD & CEO Chief Operating Officer Chief Financial Officer CHRO Chief Information Officer
3 years | 41 years 40 years | 43 years 1 year | 23 years 1 year | 20 years 11 years | 26 years

Kelvin Wang Mauro Catopodis Shrihari Rao Nevaneeth Selvan

President - EAP President - Americas President – AMESA President - Europe
8 years | 27 years 7 years | 32 years 8 years | 35 years 26 years | 29 years
125+ Years
Of EPL Experience

Hariharan K Nair Rajiv Verma Rajesh Bhogavalli Onkar Ghangurde 350+ Years
Creativity & Innovation SVP - Technology SVP – Global Supply Chain Company Secretary Total Experience
8 years | 26 years 9 years | 24 years 10 years | 28 years 1 year | 15 years

12
12
Investors Day 2024
Agenda

01
Company Overview

02
Financial Performance

03
Going Ahead

13
Last Financial Year
Strong Performance in FY24
INR Crore YoY Growth

Revenue 3916 +6.0%

EBITDA 714 +19.2%

EBITDA Margin 18.2% +202bps

PAT* 274 +20.1%

14 *PAT excluding exceptional items
 Consistent Growth
With Solid Recovery
Revenue (Rs.Bn) EBITDA (Rs.Bn) & Margin PAT (Rs.Bn) *

20.0%
19.2% 2.7
6.0% 9.9%
7.6% 4.4% 7.1 15.3% 9.4%
39.2 -6.0% -10.3%
11.0% 36.9 6.2 2.4
12.0% 34.3 5.8 6.0 2.3
2.1
30.9 5.6 2.1

FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24

20.3% 19.9% 16.8% 16.4% 18.2%

Margins Impacted by

COVID-19 Input Freight Russia-Ukraine

Impact Prices Prices Impact
15 *PAT excluding exceptional items
Strong Performance
Across Regions*
AMESA (Rev Mix: 34% I EBITDA Mix: 42%) Americas (Rev Mix: 23% I EBITDA Mix: 18%)
CAGR 11.0% CAGR 12.4%
12.3 13.7 14.2
9.4 9.9 8.8 9.9
6.5 7.4
6.2

FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24
23.3% 23.4% 20.8% 20.7% 21.5% 20.% 17.4% 13.6% 11.4% 14.3%

EAP (Rev Mix: 22% I EBITDA Mix: 27%) Europe (Rev Mix: 21% I EBITDA Mix: 13%)
CAGR 10.8% CAGR 7.1%
8.6 8.5 9.4 8.4 8.9
7.8 7.7 7.5
6.2 6.8

FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24
23.0% 24.3% 20.6% 20.6% 21.5% 12.8% 14.8% 10.8% 9.2% 10.4%

Revenue Rs. Bn EBITDA Margin *EBITDA has been adjusted for TSA and ESOPS16
** Impacted by inventory write off # Revenue and EBITDA mix for regions is for FY 24
 Margin Performance vs Peers
We have Consistently Delivered Higher margins, Built back Strongly

EPL Limited -4.7% Company 1 -2.6% Company 2 -1.4%

+3.1% +0.1% +0.9%

20.1%
18.5% 15.8% 15.2% 13.8% 14.7% 14.2%
17.3% 16.9% 14.3% 12.3%
15.4% 14.1%
13.2% 13.3%

Q4'20 Q4'21 Q4'22 Q4'23 Q4'24 Q4'20 Q4'21 Q4'22 Q4'23 Q4'24 Q4'20 Q4'21 Q4'22 Q4'23 Q4'24

Company 3 -20.1% Company 4 -9.1% Company 5 -2.9%

+NA +NA +NA
24.8% 23.3%
19.8% 9.6% 8.7% 8.7%
15.0% 16.8% 7.6% 6.7%
8.8% 10.8% 10.7%
7.2% 5.8%

Q4'20 Q4'21 Q4'22 Q4'23 Q4'24 Q4'20 Q4'21 Q4'22 Q4'23 Q4'24 Q4'20 Q4'21 Q4'22 Q4'23 Q4'24

- Drop from highest margin to lowest margin

+ Q4FY24 margin vs lowest margin 17published results
EBITDA Margin % as per
 We have a Track Record of
Delivering Superior Shareholder Value

Market Capitalization (Rs. Bn)

18.2%
10-Year CAGR
EBITDA Margin
21.1%
Impacted by Corona,
74
14.7%
Commodity Inflation

61 61
49 52 R.O.C.E
37 38 37

20
25
₹26.9Bn
9 Capital Employed*

*Capital Employed includes costs in Brazil

'14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24

As on 31 Mar for every year

EBITDA margin and ROCS is for Q4 FY 24
Capital employed is for 31st Mar, 2024 18
Investors Day 2024
Agenda

01
Company Overview

02
Financial Performance

03
Going Ahead

19
Going Ahead
Our Focus Remains on 3 Key Outcomes

Sustained Double Digit Sustainability Led Continued Margin

Continued
ExpansionMargin
Revenue Growth Competitive Advantage Expansion

• Aggressive ‘Personal • Sustainable Portfolio • Strategic Price Management

Care & Beyond’ Play
• Backend Capability • War On Waste
• Brazil scale up; Exports
• EcoVadis Platinum • Continued Insourcing

• Manufacturing Realignment

Though, there would be RM prices • Automation Investments

softening impact in the short term

20
20
 Near Team Revenue Growth
Impacted by Commodity Price Softening

134
124
118
SEA - INR/KG

112
109
116 105
102
92 90 103
89 102 100
97

80 78
73

INR LLDPE INR HDPE

21
# Source : ICIS 21
 Double Digit Revenue Growth: Personal Care & Beyond
Personal Care & Beyond is a Large Opportunity
Personal Care & Beyond:
25Bn Tubes Category Opportunity Across Markets

Total B&C* Total

Region Market (mn EPL Wallet % Opportunity
tubes) (mn tubes)
EPL Volume AMESA 2170 35% 1411
Opportunity 2.5Bn Tubes
China 1993 12% 1754
22.5Bn Tubes Europe 6712 4% 6444

US,Mex,Col 2941 7% 2735

Total 13816 11% 12343

*Beauty & Cosmetics

Beauty & Cosmetics Pharma Others
13.8Bn 8.2Bn 3.0Bn

22
22
Double Digit Revenue Growth: Personal Care & Beyond
Enhanced ‘Right To Win’ Through Innovations
Neo Seam: Zero Side Seam High Quality Printing Solutions

Applicator Innovations – a solution for all categories

23
23
Double Digit Revenue Growth: Personal Care & Beyond
Focused Capability Building to Capture the Opportunity

Operational Capability Enhanced Hunting Organization

• Smaller MOQs, Shorter leadtime • Increased hunting organization by 20%

• Backend readiness across plants for • Skilling upgrade through focused
increased demand trainings

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24
Double Digit Revenue Growth
We feel excited about Brazil opportunity

Volumes building fast Bright prospects beyond anchor customer

Volume as % of long term commitment to anchor • EPL only strategic global tube supplier in Brazil
customer
• Large consumer market with presence of
100% global customers
81%
• Advantageous manufacturing location close to
demand source

• Strong interest from various customers;

orders from new customers started

Q2'24 Q4'24

25
25
Sustainability Led Competitive Advantage
Solid Portfolio of Sustainable Solutions

Platina Platina Pro Vision Platina Pro ME ETAIN / Platina PCR

Barrier webs recyclable in Code High Barrier transparent webs High BARRIER metallic webs for HDPE tubes with mechanically
2 HDPE bottle stream. for better aesthetics; recyclable foil look / better aesthetics; recycled PE content
in HDPE Stream recyclable in HDPE stream

Advantaged solutions without compromising on cost and aesthetics

26
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 Sustainability Led Competitive Advantage
Our Customers have made Global Commitments to Sustainability

100% of plastic packaging 100% of our plastic packaging will be 100% recyclable or
to become recyclable by refillable, rechargeable, recyclable or reusable packaging by
20251 compostable by 20252 20303

Source:
1. https://www.colgatepalmolive.com/en-us/sustainability/sustainability-strategy.
2. https://www.loreal.com/en/articles/l-oreal-pour-le-futur/plastic-packaging-policy/
3. https://us.pg.com/blogs/Plastic50by2030/ 27
 Sustainability Led Competitive Advantage
We are fully Prepared to Partner with our Customers on this Journey
Capability Building Recyclable volumes scaling up fast
3X in three
years
• Majority of all capacity capexes in
60%
last 3 years recyclable packaging
compliant 2X in one
year
21%
• $20Mn investments in last 3 years in 10%
#
making ABL* lines PBL ready
FY23 Actual FY24 Actual FY26 Onwards ^
EPL’s 85% capacity is
recyclable tube ready

2022 EcoVadis Silver 2023 EcoVadis Gold

(Top 3%**)
Target EcoVadis Platinum
28
*Aluminium Barrier Laminate #Plastic Barrier Laminate ** Amongst plastic manufacturing companies ^Subject to customer’s conversion commitments
Continued Margin Expansion
Strong P&L Productivity Initiatives in Place

Strategic Price Management War On Waste Continued Insourcing

Manufacturing Realignment Maximize ‘One EPL’ Benefit Automation29Investments

29
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In Summary
We Feel Very Excited About What Lies Ahead…

Sustained Double Digit Sustainability led Continued Margin Expansion

Revenue Growth Competitive Advantage to deliver Margin
Continued 20%+ EBITDA
Expansion

In Short term • Strong Product portfolio with backend • Strategic Price Management
• Revenue Growth to be impacted by RM capability
prices softening
• Customers have committed to • War On Waste
Exciting Opportunity Going Ahead ambitious sustainability targets
• Aggressive ‘Personal Care & Beyond’
Play • We are prepared to partner them in • Continued Insourcing
o Large Category Opportunity the journey
o Our ‘Right To Win’ has improved
significantly through innovations • We are pitching for EcoVadis Platinum • Manufacturing Realignment
o We are investing in Org and which will further establish us as
Backend capabilities leading sustainable packaging company
• Automation Investments
• Brazil Scale up

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Aspiration in Numbers

Revenue (Rs.Cr) EBITDA (Rs.Cr)

~1.4X 5400 - 5800

~1.7X 1050 - 1250

~1.3X ~1.2X

FY21 FY 24 FY27 Aspiration

FY21 FY24 FY27 Aspiration

We are Poised to Deliver Exciting

Revenue and EBITDA Growth 31
31
 #1
Specialty Packaging
player in the world

Trusted Partner
to world’s most trusted brands

Global Leader
in Sustainable Offerings

Solid
Management team

Consistent Growth
with solid margin recovery

Exciting
Growth Outlook 32
32
 Thank You
Corporate Office

EPL LIMITED
@Epl_limited
Top Floor, Times Tower, Kamala City,
Senapati Bapat Marg, Lower Parel,
epl-limited
Mumbai – 400 013, Maharashtra, India.
Telephone: 022 24819000
epl_limited
Website: https://www.eplglobal.com
CIN:L7495MH1982PLC028947
33