1

Balanced Growth

• Maintain market share through selective organic and inorganic growth
• Undertake brownfield expansions at low specific investment cost per ton
• Consider inorganic opportunities that are value accretive

2

Diversification of Customer Base and Improved Product Mix

• Increase proportion of high margin value-added products
• Diversify customer base, both within India and globally
• Continue to focus on India’s rural markets

3

Focus on Resource Optimisation

• Committed to sustainable and ecofriendly technologies to drive growth
• Focus on cost reduction and energy efficiency

4

Strengthening Backward and Forward Integration

Continue to evaluate raw material assets in India and abroad to secure key raw material supplies; and to reduce production cost by targeting strategic tie-ups and investments

5

Prudent Balance Sheet Management

• Continuous improvement of financial profile
• Manage capacity expansion and debt profile to capture market opportunities without excessive risk