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CORPORATE PRESENTATION

December, 2010

Disclaimer

2

Corporate Presentation (the “Presentation”) of Hindusthan National Glass & Industries Limited (HNG), as contained in this document, is

based on management estimates and is being provided to you (herein referred to as the “Recipient”) only for information purposes. The

sole purpose of this Presentation is to provide preliminary information on the business activities of the Company, in order to assist the

recipient in understanding the Company. This Presentation does not purport to be all inclusive or necessarily include all information that

a prospective investor may desire in evaluating the Company. The Company expressly disclaims any and all liability for any errors

and/or omissions, representations or warranties, expressed or implied, as contained in this document.

This Presentation contains certain forward looking statements, which are based on certain assumptions of future events over which the

Company exercises no control. Hence this involves number of risks and uncertainties which could cause the actual results to differ

materially from those that may be projected or implied by these forward looking statements. Such risks and uncertainties include, but

are not limited to: Company’s ability to manage growth, competition, attracting and retaining skilled professionals, time and cost

overruns, regulatory approvals, market risks, domestic and international economic conditions, changes in laws governing the Company

including the tax regimes and exchange control regulations.

The Company does not undertake to update any forward looking statements that may be made from time to time by or on behalf of the

Company. This Presentation may not be photocopied, reproduced or distributed to others at any time without prior consent of the

Company. Upon request, the Recipient will promptly return all material received from the Company without retaining any copies thereof.

In furnishing this Presentation, the Company does not take any obligation to provide the Recipient with access to any additional

information on the Company or its Subsidiaries. This Presentation should not be deemed an indication of the state of affairs of the

Company nor shall it constitute an indication that there has been no change in the business or state of affairs of the Company since the

date of publication of this Presentation.

Any clarifications / queries, as well as any future communication, regarding the Company should be addressed to the Company. “This

presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, invitation, or a solicitation of any

offer, to purchase or sell or subscribe, any shares of the Company and should not be considered or construed in any manner

whatsoever as a recommendation that any person should subscribe for or purchase any of the Company’s shares.”

Introduction of the Company

Industry Snapshot

Business Overview

Float Glass Business

Business Strategy and Expansion Plans

Financial Snapshot

3

Table of Contents

Introduction of the Company

Overview

5

Medium growthLow growthDecline High growth Not illustrated

HNG: Unique and only of its kind in high growth Indian market

Industry leader – market

share ~ 55%

Diversified customer

base across all market

segments

Pan-India presence

Successful turn around

of loss making

acquisitions

Strong focus on value

creation through

strategic initiatives

Robust start in high

growth oriented Float

Glass business

Professionally run

organization with

competent management

Growth in respective Economies

Vision

“To create a world-class glass

manufacturing plant that pursues

Quality, Cost Reduction, and

Productivity Improvement measures in

a truly holistic manner, leading to

Customers‟, Shareholders‟,

Employees‟ and Suppliers‟

Satisfaction; this integrated effort will

result in the Company becoming an

Industry Benchmark and a role model

for systems, processes and results”

6

Corporate history – Milestones

1952

Foundation Stone laid for first plant at Rishra

1964

Start-up of second plant at Bahadurgarh

1970

Formation of GEIL (HNG‟s Engineering Subsidiary) in collaboration with Wheaton

2002

Acquisition of Owens Brockway India Limited (plants at Rishikesh, Puducherry and Pune)

2005

Acquisition of the Glass Unit of Larsen &Toubro at Nashik

2007

Acquisition of the Neemrana unit of Haryana Sheet Glass

2010

Start-up of production at HNG Float Glass in Halol

7

Corporate structure

Hindusthan National Glass & Industries Ltd

HNG Float Glass Ltd (HNGFL)

Quality Minerals LtdGlass Equipment

(India) Ltd.

100% 100%

Capital Goods & Spares

Supplier to Glass Industry

Net revenues: INR 366 m

Mineral Supplier to Glass

Industry


Manufacturer of Float &

Processed Glass


47.4%1

- Consolidated net revenues: INR 13,834 m

- Standalone net revenues: INR 13,599 m

8

Note:

1 HNGFL is proposed to be made a Subsidiary

2 All figures of revenues are of FY 2010

3 All Values are in INR million

Organization

9

Chandra Kumar Somany,

Chairman

Manufacturing CommercialFinanceProcurementHR & Admin

HNG Board

Mukul Somany,

VC & MD

Sanjay Somany,

VC & MD

Marketing

Professionally managed organization with clear delegation of responsibilities and authority.

* Includes 16.76% held as Treasury Shares in the Company

Total 87.4 million shares of face value of (INR. 2.00) each.

Listed at: National Stock Exchange (NSE)

Bombay Stock Exchange (BSE)

Calcutta Stock Exchange (CSE)

Shareholding pattern

Particulars% Shareholding

(as on September, 2010)

Promoters 69.98

Public Shareholding

Insurance Companies 0.37

Bodies Corporate 3.14

Financial Institutional Investors 7.27

Individuals & Others* 19.24

Total 100.00

10

30.02

Overview

11

Sales CAGR: ~ 25%

PBITDA CAGR: ~ 39%Standalone operations

7,016

10,212

13,110

1,1752,147 2,359

3,163

13,599

16.8%

21.0%

23.3%

18.0%

-

5,000

10,000

15,000

20,000

25,000

30,000

FY2007 FY2008 FY2009 FY2010

0%

5%

10%

15%

20%

25%

Net Revenue (INR m) PBITDA (INR m) PBITDA margin

Successfully combated the

impact of recession and

increase in global crude prices

• Current capacity of 2,825 Tpd – producing over ~ 15m bottles per day ranging from 5 ml to 3200 ml

• Expanding to ~ 4,150 Tpd over the next 2 years

Marketing Office

Kolkata

Mumbai

Delhi

Hyderabad

Bengaluru

Chennai

Plant Locations

Naidupeta

Pan – India presence

12

• Manufacturing locations in all regions in

the Country

• Pan-India presence enables :

◊ Lowering overall landed cost to

customers and ensuring JIT

supplies.

◊ Comprehensive coverage of the

key customers across India

Upcoming Greenfield Mega

Project

Inorganic growth

13

Successful turnaround of loss making businesses – demonstrates strong

management capabilities

January 2002

◊ Acquired Owens Brockway India Ltd, a subsidiary of

Owens Illinois, USA.

◊ Capacity acquired: 700 Tpd (plants at Puducherry and

Rishikesh).

◊ Closed the 3rd plant of the Company at Pune, since

commercially not viable.

October 2005

◊ Acquired loss making unit of Larsen & Toubro

◊ Capacity acquired: 320 Tpd (at Nashik)

October 2007

– Acquired the assets Containerr Glass division of Haryana Sheet Glass.

– Capacity acquired: 180 Tpd (at Neemrana)

Ratings, Rankings & Accreditations

Business Standard Ranking (Out of 1000 top listed corporates, as of Feb ‟10)

◊ In terms of Revenue – 299th

◊ On Operating Profit Quantum – 265th

◊ On Net Profit Quantum – 253rd

Rating by CARE (Credit Analysis & Research Ltd.)

◊ Long Term credit rating of AA+ (implying high safety for timely servicing of debt obligations and carrying very low credit

risk).

◊ Short Term credit rating of PR1(+) (implying the lowest credit risk).

CRISIL Equity Rating

◊ On „Fundamental‟ side 4/5 meaning „Superior Fundamentals‟

◊ On „Valuation‟ Side 5/5 meaning „Strong upside‟

Rated as the best Indian Company in the Glass & Ceramics category by Dun & Bradstreet in

year 2009

Accredited with ISO 9001:2008 certification, ensuring stringent quality standards and ISO 22000 for

food and safety

Rated at No.35, out of the best 500 companies by Inc.India(Comprehensive ranking of India‟s best

performing mid-sized companies) in their Sep-Oct, 2010 issue.

14

Industry Snapshot

16

Global packaging industry

As per World Packaging Organization, the global packaging industry at present is estimated to be

higher than US$ 500 bn in revenues, with ten year historical growth at ~ 3.1% CAGR

Projected to grow at ~ 3.6% CAGR in the next five years mainly driven by growth in emerging

markets (Asia Pacific region)

Source: Owens-Illinois, Inc. - Investor presentation, March 2010

6.3%

3.4%

0.7% 0.5%

3.1%

7.0%

3.2%

0.4% 0.2%

3.6%

Asia Pacific Latin America Europe North America Global

10-year historical growth (1999-2009E) Forecasted growth (2008-2013E)

17

Indian macroeconomic overview

846

11621029

683548

439

18%20%

26%28%

32%

23%

0

250

500

750

1000

1250

19

61

19

71

19

81

19

91

20

01

20

10

0%

5%

10%

15%

20%

25%

30%

35%

Total Population (m) % Urban

9.0%

7.4%7.5%

9.4%9.9%

6.7%

0.0%

2.5%

5.0%

7.5%

10.0%F

Y 2

00

5

FY

20

06

FY

20

07

FY

20

08

FY

20

09

FY

20

10

GDP growth rate

India is the seventh largest Country by geographical area and the second-most

populous Country in the world. According to IMF estimates, India‟s GDP is expected to

grow by 8.5% in the current year.

89.0

63.9

50.3

27.5

27.5

19.5

10.2

5.9

4.8

1.4

1.2

South Korea

France

Spain

UK

USA

Mexico

Japan

China

Brazil

India

Indonesia

(kg)

18

Indian Glass Packaging Industry

World glass container per capita

consumption

At US$ 14 bn, Indian packaging industry has been growing at

~ 15% over the last few years

◊ Expected to accelerate further with increasing

urbanization, growing middle class and expansion of

modern retail

Indian glass container market stood at US$ 0.8 bn in FY09

with a growth of ~ 12% over FY08

◊ Entry barrier owing to capital intensive nature

◊ Top 3 players are HNG, Piramal Glass and AGI

Glaspac

Low per capita glass container consumption of 1.4 kg in India

as compared to 27.5 kg. in US and 10.2 kg. in Japan

Strong economic drivers for end-user segments (liquor and

beer, pharmaceuticals, food, cosmetics, etc.)

19

Liquor

49 56 57

190

214236

0

50

100

150

200

250

2007-08 2008-09 2009-10

Ca

se

s in

millio

ns

HNG Supply Liquor Industry Volumes

Size of Indian IMFL market is estimated to be ~ US$

4.5 bn with total sales volumes of 236m cases

Industry projected to grow at 10-12% p.a. over next few

years

Growth Drivers:

Low per capita consumption in India of 1.8 litres as

against 8.7 litres in Europe and 8.5 litres in USA

Increasing disposable incomes

Youth & Middle-Aged population expected to increase

from ~ 48% of population (2001) to 54% in 2011

~ 485m people in the drinking age and another 100m

likely to be added over next 5 years

Cultural change – acceptance of social drinking and

growing drinking habits in women

Increasing deregulation by state governments

Increasing awareness of health &

hygiene issues leading to greater

usage of new glass bottles.

20

Beer

19 20 21

157174

191

0

50

100

150

200

250

2007-08 2008-09 2009-10

Ca

se

s in

millio

ns

HNG Supply Industry Volumes

Size of industry in terms of volumes: 191 m cases

Industry projected to grow at 12-15% p.a. over next few

years

Growth Drivers:

Low per capita consumption in India of 1.3 litres,

compared to global average of 24 litres

Increase in disposable income

Increasing exposure to beer, mainly due to increase in

number of outlets

Rising popularity of beer among urban working womenGiven the growth of beer industry

in India, there is large potential for

the new glass bottles.

66,040

100,625

FY2007 FY2010

21

Food

Figures in MT – HNG Glass

bottles

CAGR: ~15%

As per Government of India‟s Vision 2025, the food processing

industry is expected to more than double in size from the current

US$ 70 bn to ~ US$ 150 bn in 2025

Growth Drivers:


Changing lifestyles of urban and rural middle class

Increasing health consciousness with shift from traditional

unpackaged formats to packaged, branded goods

Increasing working women population

Increase in penetration of glass containers – currently 10-12% of

all food and beverages are packed in glass containers in India as

compared to 40-50% in developed markets

22

Soft Drinks

19,731

51,852

FY2007 FY2010


bottles

CAGR: ~ 38%

The Indian soft drinks market is estimated to be ~ US$ 1.8 bn

with carbonated drinks contributing US$ 1.5 bn and juices US$

0.3 bn

Overall industry growing at ~ 8% p.a. with fruit drinks/ juices

category growing at ~ 25% p.a.

Growth Drivers:

India‟s consumption amongst one of the lowest in the world

at 5 bottles (equivalent to 8 oz) p.a.


Increasing penetration in rural India and faster urbanization

Introduction of healthier fruit based substitutes / juices and

energy drinks to tap newer market aspirations

95,009

83,460

FY2007 FY2010

23

Pharmaceuticals


bottles India's Pharmaceutical Industry is the 3rd largest in the world in

volume terms and 14th in value terms

The Indian domestic market is currently ~ US$ 12.3 bn and is

growing at CAGR of 12-15% as against a global average of 4-7%

◊ Projected to grow to US$ 20 bn by 2015

Growth Drivers:


Increased health awareness and propensity / capacity to spend

Expansion of healthcare facilities in the rural and far-flung areas

to further boost demand

Increasing penetration of customized insurance plans would drive

affordability of healthcare services

Glass Bottle market has

experienced a de-growth of

5% CAGR due to penetration of

PET Bottles

Business Overview

25

Summary

Largest Glass Container manufacturer in India (~ 55% volumes) with about six decades of

experience. Present capacity of 2,825 Tpd

Robust financial position

◊ During the period of FY07 to FY10, standalone sales grew at a CAGR of 25% while

PBITDA grew at a CAGR of 39%

◊ Enjoys economies of scale owing to size and has best in class PBITDA margins

Strong manufacturing platform spread across India through six manufacturing units

Markets container products to several top clients including United Spirits, SAB Miller, HUL,

Nestle, Glaxo, Heinz, etc.

Highly experienced and competent management team

Compliance with Health, Environment and Safety regulations in India

Group is committed to CSR

Competitive benchmarking

26

Player Market

Cap (INR)

Capacity

(tpd)

Sales

(consolidat

ed) FY10-

INR

Other comments

HNG 22.70 bn 2,825 13.8 bn

• Produces glass bottles to liquor, beer,

pharmaceuticals, food and carbonated drinks

industries

Piramal

Glass8.46 bn 1,115 11.0 bn

• Produces glass bottles for cosmetics, pharma,

food and beverages for both domestic and

international markets

• Key segment: Cosmetics & Pharma

Vitrum Glass NA 130 NA • Produces amber glass containers for pharma

Haldyn Glass 0.74 bn 320 1.34 bn• Produces glass bottles for liquor, cosmetics,

pharma, food and beverage

Hindusthan

Sanitaryware8.65bn 950 8.06* bn

• Glass Division named “AGI Glaspac”

• Produces glass bottles for liquor, pharma, food

and beverage

• *Total revenues of the company ( includes revenues from sanitary-ware business)

27

End user segment Geography

Volume Mix (FY 2010)

Liquor,

50%

Beer,

15%

Food,

13%

Pharma,

11%

Others,

11%

1 Others includes soft drinks

1

East, 20%

North, 42%

South, 22%

West, 16%

Customers – Some names

28

Liquor

Beer

Pharmaceuticals

Food

Carbonated drinks

(Soft drinks)

http://www.jdl.in/home.php

HNG’s Share of Top 10 Customers

29

0

10

20

30

40

50

60

70

80

90

100

United Spirits Limited

United Breweries

Limited

Pernod Ricard India

SAB Miller India

Allied Blenders & Distillers

Coca Cola India

Pepsico India

Bajaj Corp Limited

Shiva Distilleries

John Distilleries

Limited

60

65

55

60

80

40

70

95

80

50

HNG's Share in the Total Requirement of Top 10 Customers in 2009-10 (%)

Manufacturing Facilities

30

Plant details: Rishra (West Bengal)

Description

Year of start of

operation1952 (Area: 38.3 acres)

Installed capacity 805 tpd

Production in FY10 207,748 MT

Furnaces 3 (13 manufacturing lines)

Other comments

• On-site bottle printing facility

• Amber, flint and green glass

manufacturer

Rishra

31

Plant details: Bahadurgarh (Haryana)

Description

Year of start of

operation1964 (Area: 57.9 acres)



Furnaces 3 (15 manufacturing lines)

Other comments


with four decorating lines

• Amber and flint glass

manufacturer

• Foundry and mould workshop

• Energy feed through captive

power generating facilities

Bahadurgarh

Manufacturing Facilities (contd.)

32

Plant details: Rishikesh (Uttarakhand)

Description

Year of acquisition 2002 (Area: 14.3 acres)



Furnaces

2 (1 furnace used for Green glass

manufacture; 6 manufacturing

lines )

Other comments

• On-site printing facility with

three decorating lines

• Green, flint and Georgia green

Rishikesh


33

Plant details: Puducherry (Union territory)

Description




Furnace 1 (4 manufacturing lines)

Other comments

• On-site printing facility with three decoration lines

• Sand beneficiation plant, foundry and mould workshop

Puducherry


34

Plant details: Nashik (Maharashtra)

Description





Other comments


with three decorating lines

• Flint glass

Nashik


35

Plant details: Neemrana (Rajasthan)

Description





Other comments• Manufactures flint and amber

glass

Neemrana


36

Technology Partners

Batch-houses from Zippe (Germany)

Furnaces from Sorg and Horn (Germany)

Forehearths from Emhart /Sorg (USA/Germany), PSR (UK) & BH-F (UK)

IS machine control system from Botterro (Italy) and Futronic (Germany)

Bottle handling equipment from Sheppee (UK), Heye (Germany) & Pennekamp (Germany)

Annealing Lehrs from Carmet (Italy) & Pennekamp (Germany)

Bottle inspection machines from SGCC–MSC (France), Heye (Germany) and IRIS (France)

Bottle printing equipment from Strutz (USA), Rosario (Netherlands) & Kamann (Germany)

Technology sourced from Global majors helps boost operational efficiencies and product quality :

Supply chain

37

Procurement

Sourcing and Service contracts with various global parties

Strong procurement and supply chain systems in place with diversified supplier base to de-risk operations

Key raw materials include: silica, limestone, dolomite, feldspar, soda ash and cullet

Marketing and Distribution

Presence of multiple manufacturing locations across the country presents a strategic advantage over its peers yielding higher Net Sales Realization (NSR) due to lower freight cost to the customers

Flexibility to offer JIT supplies due to lower lead

Strategic acquisitions helped increase the geographic footprint and customer penetration

Six marketing offices spread across India

In-house fleet of over 100 trucks to de-risk supply side logistics

Over 90% customers are B2B

Environment, Health and Safety

38

Compliance with all EHS (Environment, Health and Safety) related legislations

Emission standards maintained within norms

Focus on zero discharge and recirculation of water

CDM projects are registered. More are in the pipeline

Qualified safety professionals at each plant

Periodical risk assessments and safety audits

Corporate Social Responsibility

39

The group remains committed to CSR and some of the programs embarked upon are:

Provision of street lighting and maintenance of a children‟s park in the colony (Tulsi Vihar) adjacent

to the plant at Rishikesh

Sunetra Eye Clinic

◊ The Group started an eye check-up centre for underprivileged citizens in collaboration with

Calcutta Eye Research Foundation

School operated at Bahadurgarh (Bal Bharti) that caters to the education requirements of most of

the children in the vicinity. 1,700 students registered under CBSE curriculum

Training programs conducted for underprivileged girls.

Regularly conducts free medical camps

Undertaken plantation of trees in large numbers

Maintenance of park “Maharana Pratap Square” in Kolkata

Float Glass Business

Summary

41

A Strategic move to venture into high growth Float Glass industry through Associate - HNG Float

Glass Limited (~ 47% shareholding)

◊ Proposed to be made a subsidiary

Indian Float Glass industry has been growing at ~ 12% CAGR over the last three years:

◊ Low per capita consumption of 0.8kg as compared to 8kg in China, 12.5Kg in Europe

and 10.4kg in USA

◊ Growth in construction and automobile sectors in India

Plant setup at plant at Halol, Gujarat

◊ Strategic Locational advantage:

Proximity to Large consuming markets of Western and Northern India

Located on Delhi-Mumbai Industrial Corridor

Availability of Natural Gas Sources & nearness to sources all raw-materials

◊ Capacity: 600 Tpd set up at a capex of (INR 6 bn)

◊ Commenced production in Feb ‟10.

◊ Expected to break-even within the current fiscal

Market overview

42

Nascent industry in India with just 8 float glass lines compared with 196 in China

India‟s total installed capacity for float glass is ~ 4,700 Tpd

Growth drivers

◊ Growth in the Construction Sector driven by

◊ Growth in the services sector - telecom, financial services, IT & ITeS etc

◊ Boom in retail marketing through shopping malls

◊ Increasing demand for affordable housing and high rate of urbanization

◊ Growth in Automobile Sector mainly driven by growth in passenger vehicles, LCV & HCV

and increased exports

Highlights – HNG Float Glass

Overview

◊ Commenced production in a record time of 21 months

◊ Plant achieved global production quality & efficiency benchmarks within a short span of 5 months

◊ Competitors include Saint Gobain, Asahi, Gujarat Guardian, Gold Plus, Sejal, etc.

Certifications - European standards and ASPM (U.S. standards) and ISO 9001:2000

Procurement of raw material

◊ Diversified supplier base for each raw material to reduce any business

25% market share captured in 9 months with a wide distribution network of 758 agents spread

across India

Growth plans

◊ Capacity expansion by 900 Tpd

◊ Also planning a wider range to meet the market demand for value added products.

43

Competitive benchmarking

44

Player Installed

capacity (tpd)

Dealer network in diff geographical regions in India

North East West South Total

HNGFL 600 161 44 320 223 758

Saint Gobain 1400 195 75 210 279 759

Asahi 1200 112 40 90 177 419

Gujarat Guardian 550 93 30 160 171 454

Gold Plus 460 68 10 48 20 146

Sejal 550 54 11 80 81 226

Business Strategy and Expansion Plans

Key Success Factors

46

HNG’s Status Size and Strength of the Balance Sheet:

◊ Provides flexibility and power to negotiate with

suppliers and customers

◊ Enables the Company to build capacity and

pursue expansion plans

Cost management and optimal utilization of

resources (manufacturing assets)

◊ Ability to manage costs and suitably placed to

pass increases (if any) to the customer

◊ Ability to sweat the assets to the maximum

extent for delivering better operational results

Strong technological capabilities

◊ Ability to innovate and provide customers with

optimized product, ensuring sustainable

competitive advantage in the market

Well diversified spread across verticals and

segments

◊ Presence across entire primary end user

industries and customer segments

◊ Market share of ~ 55%

◊ Low debt/equity of 0.5x

◊ Strong credit rating of AA (Long term)

◊ Diversified supplier base

◊ Strong focus on margin improvement

◊ Backward integration to reduce costs

◊ Optimum utilization of furnace capacities

◊ Introduction of NNPB technology

◊ Technology tie up with global majors

including JV with OMCO, Belgium

◊ Presence across key user industries –

liquor, beer, pharmaceuticals and food

◊ Planning entry into Perfumery segment

Strategic initiatives

47

Emerge as a value driven manufacturer through increased production of light weighted bottles thus enhancing margins

◊ PBITDA margin for standalone operations improved from ~ 17% in FY2007 to ~ 23% inFY2010

Setting up a Mega Glass Manufacturing Complex in Naidupeta, Andhra Pradesh (110Km from Chennai)

Enhancing SAP Information System (Business Intelligence modules and Performance Management Systems) to closely monitor and improve key operating metrics

Leveraging capabilities of acquiring and turning around underperforming global assets by

replicating the model already successfully achieved in India

Investing in fresh capacity to improve market share

Leveraging existing relationships with customers and service their growing needs in other countries with supplies being made out of facilities in India

Strategic initiatives (contd.)

48

Further enhancement of Product Range in NNPB

Emerge as a leading player in the Float Glass container business in India

◊ Current market share of ~ 25% and projected to grow further

◊ Further capacity of ~ 900 Tpd planned to be added to existing capacity of 600 Tpd

Captive mining for silica procurement for Rishra plant (West Bengal) and Float Glass plant

(owned by HNGFL)

Building up a strong team in Technology Center to provide technical excellence across the plants

and reduce capital costs for upcoming projects.

Ongoing technology upgradation with global majors

Expansion plans

49

Capacity

addition (tpd)Investment Other comments

Greenfield in

Andhra

Pradesh

650 INR 5.0 bn

• Land has already been allotted

• Project commenced from July‟10

• Targeted project completion date is Mar‟12

New Furnace

in Nashik650 INR 4.7 bn

• Existing Plant has huge space for this

• Production expected by the end of yr. 2011

Furnace

Rebuilds220 INR 2.0 bn • Rebuilds at Rishra and Rishikesh

HNGFL 900 INR 6.0 bn • Increase in float glass production capacity

Other plans include:

Acquisitions (domestic and international) in the Glass Container space guided by the “value buy” proposition, as in the past

JV with OMCO, Belgium for Moulds & Accessories

Enhancing margins

50

Bahadurgarh Already in place

Neemrana Already in Place

Nashik By September, 2011

Puducherry By October, 2012

Rishikesh, Rishra By June, 2013

Shift to natural gas in manufacturing process, by replacing Furnace Oil and LPG across all 6 plants.

Enhanced Mould Quality for higher performance and life

Competitive advantage in marketing – quantity and pricing

Introducing NNPB across all plants thus reducing bottle weight and producing more bottles

Acquisition and Operation of Captive Mining and Beneficiation of Raw Materials.

Expansion of transportation fleet – ensuring both economy and in-time delivery

Financial Snapshot

All values in INR million

Consolidated P&L

Particulars FY08 FY09 FY10

Net Revenue 10,291 13,305 13,834

Net Revenue growth 46.7% 29.3% 4.0%

PBITDA 2,165 2,388 3,192

PBITDA Margin 21.0% 18.0%1 23.1%

PBIT 1,455 1,634 2,323

PBIT Margin 14.1% 12.3% 16.8%

PAT2 1,205 1,081 1,541

PAT Margin 11.7% 8.1%1 11.1%

52

Note:

1 Due to high global crude prices, overall recession in global economy and some losses in financial derivative transaction

2 PAT does not include adjustments for share in associate company

Realisation, volume and revenue

53

765,478 782,585695,820

14,677

17,126 17,377

-

225,000

450,000

675,000

900,000

FY 2008 FY 2009 FY 2010

-

10,000

20,000

30,000

40,000

Sales Quantity in MT (LHS)

Average Realisation in INR/MT (RHS)

13,110 13,599

10,212

21%

18%

23%

-

6,000

12,000

18,000

24,000

30,000

FY 2008 FY 2009 FY 2010

0%

5%

10%

15%

20%

25%

30%

Sales in INR m (LHS)

PBITDA margin (%) (RHS)

54

Realisation by segment

SegmentNet Realizations (INR/MT) CAGR

(2008-10)FY2008 FY2009 FY2010

Food 14,655 17,730 18,377 12.0%

Soft Drinks 15,873 18,107 20,132 12.6%

Beer 12,242 15,433 16,066 14.6%

Liquor 13,852 16,658 16,503 9.2%

Pharmaceuticals 16,505 19,117 19,726 9.3%

Toiletries 15,593 18,787 18,560 9.1%

Vials 25,643 29,404 29,246 6.8%

Household 20,077 21,445 22,363 5.5%

Total 14,677 17,127 17,377 8.8%

Realisation has further increased by approximately 6-7% w.e.f. 1 August 2010

Particulars FY08 FY09 FY10

Net Fixed Assets 8,979 9,904 11,380

Investments 1,139 1,021 1,446

Net Working Capital 3,074 4,087 4085

Total Assets 13,192 15,012 16,911

Shareholders equity 8,799 9,490 10,545

Secured Loans 2,896 4,180 5,495

Unsecured Loans 1,313 921 171

Deferred tax liabilities 184 421 700

Total liabilities and equity 13,192 15,012 16,911

Long term debt/ equity 0.17 0.35 0.36

Total debt/ equity (x) 0.5 0.5 0.5

Consolidated Balance Sheet

55

All values in INR million

Operating in a capital intensive industry, the Company has been able to maintain a

total debt/ equity ratio of 0.5x

Hindusthan National Glass & Industries Ltd. (HNG)

THANKYOU

For any queries/to obtain more info, please

write at [email protected]

Annexure

Management team

58

Jagdish Prasad Kasera, Senior President

Over 40 years of experience. Joined Company in Jan-98. Responsible for operations and M&A

Worked with several prominent groups - Williamson Magor, Usha Martin, Aditya Birla and Ispat

Fellow member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India. Also a Qualified Cost Accountant.

Ratan Lal Khandelia, President

Over 34 years of experience. Joined Company in Mar-99

Currently looking after Bahadurgarh, Rishikesh and Neemrana Plant

Worked with various companies, including MP Birla Group and Ferro Alloys Group. Qualified Chartered Accountant from the Institute of Chartered Accountants of India

Vinay Saran, Senior Vice President - Marketing

Over 22 years of experience in the field of consumer products and consumer durable marketing. Joined Company in 2007

Key member of the governing body of the Indian Institute of Packaging, Mumbai, All India Management Association, Kolkata, Management Association, National HRD Network and the Indian Institute of Packaging, Kolkata

Laxmi Narayan Mandhana, Chief Financial Officer

Qualified Chartered Accountant and Company Secretary

Over 20 years of experience in in finance - comprising capital issues, mergers, acquisitions, banking, project activities, business evaluations and monitoring. Is associated with the Group for about seven years

Member of the Finance Committee of the Confederation of Indian Industry, Eastern Region

Expert in corporate finance, taxation and accounts

Management team

59

Animesh Banerjee, Senior Vice President

Over 23 years of experience in polymers, pharmaceuticals, chemicals, fine chemicals, petrochemicals, dyes and intermediates, paints and varnishes, food processing and FMCG

Worked with companies like Shaw Wallace, IPCCL, Mafatlal Industries Ltd., TATA Kansai, Berger Paints

Currently looking after Rishra, Nashik and Puducherry Plant

Post graduate from IIT Kharagpur and MBA from IIM, Kolkata

Amar Chand Jain, Vice President – Tech Centre

Over 47 years in all areas of Container Glass Production. He joined the Company in 1963

Currently is a leading member of the Group Technical Centre, responsible for Research, Development, Technological Absorption, Innovations, Acquisitions and New Projects

He is a science graduate

Ram Surat Prasad Gupta, Vice President

Over 35 years of experience in various industries - electrical (lighting division Philips), mechanical (HNG & Ind.), electronics (Binatone Electronics), process industries (Sheela Foam)

He studied engineering (mechanical) and did his post graduation in management

Associated with Quality Certifications

Chandra Singh. K Mehta, Plant Head – Nashik

He started his career with M/s Hindusthan Development Corporation Limited and worked with M/s Shakti Insulated Ltd before joining HNG

He has served 21 years in the career

Management team

60

Jalaj Kumar Malpani, Vice President - Commercial

He handles corporate MIS, annual business plan and quarterly performance reviews

Recipient of Jawahar Award for meritorious performance in the area of cost reduction and cost control

Worked with SAIL for 15 years at Bokaro Steel Plant and CMO, Kolkata, and ICI India Ltd for one year. Worked closely with Mckinsey & Co in the area of inventory management and debt

Kulur Satish Shetty, Plant Head, Puducherry

Over 28 years of experience, with over 25 years in the field of glass manufacture. He joined the Company in 2006

He has worked with Bharat Electronics Ltd ,Taloja ,Maharashtra (a public sector company), Videocon Narmada Glass, Bharuch ,Gujarat, and Hotline Glass Ltd, Gwalior, Madhya Pradesh

Holds a bachelor degree in mechanical engineering from a regional engineering college, Surathkal, Karnataka

Devdutta Hoare, Exports Head

Over 19 years of experience in in marketing of industrial products in India and abroad. Joined Company in 2007

Previously worked with Dr. Beck & Co, Atul Limited and Gwalior Chemicals

He is chemical engineering graduate from Jadavpur University, Kolkata

Ravindra Kr Sitani, Vice President-Works

Over 26 years of experience. He joined the Company in 2007

Previously worked with Grasim Industries Ltd, Kanoria Chemicals & Ind Ltd and Hindusthan Vidyut Prod Ltd

He has B.E. (Hons) Mechanical and ME (Industrial Production) from BITS, Pilani

Currently posted at Bahadurgarh Plant

Management team

61

Bimal Kumar Garodia, Vice President - Finance

Over 20 years of industry experience. He joined the company in Apr-08

Previous experience includes Bajaj Eco-tech Limited, a wholly owned subsidiary of Bajaj Hindusthan Ltd

He is qualified Chartered Accountant, Cost Accountant and a Company Secretary

Chandra Kumar Tharad (Vice President –Commercial)

Over 25 years of experience

Previous experience includes Usha Martin and LNG Bhilwara Group

Commerce Graduate with Calcutta University. He completed Chartered Accountancy in 1984

Bishnu Kumar Kedia, AVP - Materials

Joined Company in 2003

Previously worked with Khaitan (India) Limited, Agarwal Hardwares Limited and Magma Leasing Limited

B. Com. (Hons.) from St. Xavier‟s College (Calcutta University) where he scored 49th rank in the University and received national scholarship. He is qualified Chartered Accountant

Kuldeep Kumar Sharma, Plant Head – Neemrana

Over 31 years of experience in glass industry

He is B.Sc., M.A. (Eng), M.Ed.. Took training at O.I. (USA) for glass operations and quality management systems, HACCP (hazard analysis & critical control points) Course from DNV, IMS (Integrated Management System)

Shammo Roy Choudhury, AVP – HR

Has over 25 years of rich experience having worked in renowned multinationals Pfizer, Otis Elevator Co (I) Ltd & Flakt India Ltd and engineering company Shriram Bearings Ltd & Stone India Limited

He is Commerce Graduate from St Xavier‟s with Post Graduate in Industrial Relations & Personnel Management from Xavier Institute of Social Service, Ranchi

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