Hindustan National Glass & Industries Ltd - HNGIL

CORPORATE PRESENTATION
March, 2011

Disclaimer
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
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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.”
2

Table of Contents
� Introduction of the Company
� Industry Snapshot
� Business Overview
� Float Glass Business
� Business Strategy and Expansion Plans
� Financial Snapshot
3

Introduction of the Company

Overview
Growth in respective Economies
Decline Low growth Medium growth High growth Not illustrated
HNG: Unique and only of its kind in high growth Indian market
5
� 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

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 – Key events
1952
Company laid
the foundation
stone for its
first plant at
Rishra
2001
Expansion of
capacity to 1,100
tonnes per day
2002
Acquisition of
plants at
Rishikesh and
Puducherry from
Owens
2005
Acquisition of the
glass division of
L&T at Nashik
7
2006
Merger with
associate, Ace
Glass
Containers Ltd
2007
-Set up Float Glass
plant in Halol
- Acquisition of the
Neemrana unit of
Haryana Sheet Glass
2009
Rated as the
best Indian
company in the
Glass &
Ceramics
category by Dun
& Bradstreet
2010
-Work on 7 th plant at
Naidupetta (650 TPD)
started at full swing
(operations to
commence by Mar-12)
2011
-650 tpd of additional
capacity announced in
Nashik, production
expected by Nov, 2011

Corporate structure
Glass Equipment
(India) Ltd.
Capital Goods & Spares
Supplier to Glass Industry
Net revenues: INR 366 m
Hindusthan National Glass &
Industries Ltd
100% 100%
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
Quality Minerals Ltd
Mineral Supplier to Glass
Industry
Net revenues: INR 29 m
8
- Consolidated net revenues: INR 13,834 m
- Standalone net revenues: INR 13,599 m
47.4% 1
HNG Float Glass Ltd
(HNGFL)
Manufacturer of Float &
Processed Glass
Net revenues: INR 275 m

Organization
Manufacturing
Marketing
Sanjay Somany,
VC & MD
HNG Board
Chandra Kumar Somany,
Chairman
Finance Purchase Commercial
9
Mukul Somany,
VC & MD
HNGIL Board of Directors
� Chandra Kumar Somany
� Sanjay Somany
� Mukul Somany
� Kishore Bhimani
� Sujit Bhattacharya
� Ratna Kumar Daga
� Shree Kumar Bangur
� Dipankar Chatterji
� Indrajit Kumar Saha
� Venkatasan Sridar
HR & Admin
Professionally managed organization with clear delegation of responsibilities and authority.

Shareholding pattern
Particulars
% Shareholding
(as on February, 2011)
Promoters 69.98
Public Shareholding
Insurance Companies 0.37
Bodies Corporate 2.67
Financial Institutional Investors 7.27
Individuals & Others* 19.69
Total 100.00
* 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)
10
30.02

Overview
• 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
Standalone operations
30,000
25,000
20,000
15,000
10,000
5,000
-
7,016
16.8%
1,175
Successfully combated the
impact of recession and
increase in global crude prices
21.0%
10,212
2,147
11
13,110
18.0%
2,359
13,599
Sales CAGR: ~ 25%
PBITDA CAGR: ~ 39%
23.3%
FY2007 FY2008 FY2009 FY2010
Net Revenue (INR m) PBITDA (INR m) PBITDA margin
3,163
25%
20%
15%
10%
5%
0%

Pan – India presence
• 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
◊ Fleet of 100 Trucks
12
Mumbai
Delhi
Bengaluru
Hyderabad
Naidupeta
Chennai
Kolkata
Plant Locations
Marketing Office
Upcoming Greenfield Mega
Project

Inorganic growth
� January 2002
◊ Acquired Owens Brockway India Ltd, a subsidiary of
Owens Illinois, USA.
◊ Capacity acquired: 700 Tpd (plants at Puducherry and
Rishikesh).
◊ Closed the 3 rd plant of the Company at Pune, since
� October 2005
commercially not viable.
◊ Acquired loss making unit of Larsen & Toubro
◊ Capacity acquired: 320 Tpd (at Nashik)
� October 2007
– Acquired the assets Container Glass division of Haryana
Sheet Glass.
– Capacity acquired: 180 Tpd (at Neemrana)
Successful turnaround of loss making businesses – demonstrates strong
management capabilities
13

Ratings, Rankings & Accreditations
� Business Standard Ranking (Out of 1000 top listed corporates, as of Feb ‟10)
◊ In terms of Revenue – 299 th
◊ On Operating Profit Quantum – 265 th
◊ On Net Profit Quantum – 253 rd
� 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 3/5 meaning Align (+ - 10% from CMP)
� 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

Global packaging industry
� As per World Packaging Organization, the global packaging industry at present is estimated to be
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)
6.3%
7.0%
3.4%
3.2%
Source: Owens-Illinois, Inc. - Investor presentation, March 2010
16
0.7%
0.5%
0.4% 0.2%
3.6%
3.1%
Asia Pacific Latin America Europe North America Global
10-year historical growth (1999-2009E) Forecasted growth (2008-2013E)

Indian macroeconomic overview
10.0%
7.5%
5.0%
2.5%
0.0%
7.5%
FY 2005
9.4% 9.9%
FY 2006
FY 2007
9.0%
GDP growth rate
FY 2008
6.7%
FY 2009
7.4%
FY 2010
17
1250
1000
750
500
250
0
18%
1961
439
20%
1971
548
1981
26%
23%
683
1991
846
28%
1029
2001
32%
1162
Total Population (m) % Urban
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.
2010
35%
30%
25%
20%
15%
10%
5%
0%

Indian Glass Packaging Industry
� 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$ 1 bn plus in FY10
with a growth of ~ 12%
� 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.)
18
World glass container per capita
consumption
South Korea
France
Spain
UK
USA
Mexico
Japan
China
Brazil
India
Indonesia
(kg)
10.2
5.9
4.8
1.4
1.2
19.5
27.5
27.5
50.3
63.9
89.0

Liquor
� 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
19
Cases in millions
250
200
150
100
50
0
190
214
49 56 57
236
2007-08 2008-09 2009-10
HNG Supply Liquor Industry Volumes
Increasing awareness of health &
hygiene issues leading to greater
usage of new glass bottles.

Beer
� 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 women
� Branding efforts of beer producing companies is also
adding growth of new glass bottles in the segment
20
Cases in millions
250
200
150
100
50
0
157
174
19 20 21
191
2007-08 2008-09 2009-10
HNG Supply Industry Volumes
Given the growth of beer industry
in India, there is large potential for
the new glass bottles.

Food
� 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:
� Increase in disposable income
� 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
21
Figures in MT – HNG Glass
bottles
CAGR: ~15%
66,040
100,625
FY2007 FY2010

Soft Drinks
� 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.
� Increase in disposable income
� Increasing penetration in rural India
� Introduction of healthier fruit based substitutes / juices and
energy drinks to tap newer market aspirations
22
Figures in MT – HNG Glass
bottles
CAGR: ~ 38%
19,731
51,852
FY2007 FY2010

Pharmaceuticals
� India's Pharmaceutical Industry is the 3 rd largest in the world in
volume terms and 14 th 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:
� Increase in disposable income
� Increased health awareness
� 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
23
Figures in MT – HNG Glass
bottles
95,009
83,460
FY2007 FY2010
Glass Bottle market has
experienced a de-growth of
5% CAGR due to penetration of
PET Bottles

Business Overview

Summary
� Largest Glass Container manufacturer in India (~ 55% volumes) with about six decades of
experience. Present capacity of 2,825 tpd with proposed expansion to ~ 5975 tpd by FY14.
� 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.
◊ Strong manufacturing platform spread across India through six manufacturing units, with
additional Greenfield project being executed at Naidupeta, A.P and Nashik.
� 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
25

Competitive benchmarking
Player
Market
Cap (INR)
Capacity
(tpd)
Sales
(consolidat
ed) FY10-
INR
HNG 22.70 bn 2,825 13.8 bn
Piramal
Glass
8.46 bn 1,115 11.0 bn
26
Other comments
• Produces glass bottles to liquor, beer,
pharmaceuticals, food and carbonated drinks
industries
• 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
Hindusthan
Sanitaryware
8.65bn 950 8.06* bn
• *Total revenues of the company ( includes revenues from sanitary-ware business)
• Produces glass bottles for liquor, cosmetics,
pharma, food and beverage
• Glass Division named “AGI Glaspac”
• Produces glass bottles for liquor, pharma, food
and beverage

Volume Mix (9m FY11)
Pharma
10%
Food
11%
End user segment Geography
Beer
15%
Others 1
11%
1 Others includes soft drinks
Liquor
53%
27
West
13%
South
20%
East
22%
North
45%

Customers – Some names
Liquor
Beer
Food
Carbonated drinks
(Soft drinks)
Pharmaceuticals
28

100
HNG’s Share of Top 10 Customers
90
80
70
60
50
40
30
20
10
0
60
United
Spirits
Limited
HNG's Share in the Total Requirement of Top 10 Customers in
2009-10 (%)
65
United
Breweries
Limited
55
Pernod
Ricard
India
60
SAB Miller
India
Allied
Blenders &
Distillers
29
80
40
Coca Cola
India
70
Pepsico
India
95
Bajaj Corp
Limited
80
Shiva
Distilleries
50
John
Distilleries
Limited

Manufacturing Facilities
Plant details: Rishra (West Bengal)
Year of start of
operation
Description
Installed capacity 805 tpd
1952 (Area: 38.3 acres)
Production in FY10 207,748 MT
Furnaces 3 (13 manufacturing lines)
Other comments
• On-site bottle printing facility
• Amber, flint and green glass
manufacturer
30
Rishra

Manufacturing Facilities (contd.)
Plant details: Bahadurgarh (Haryana)
Year of start of
operation
Description
Installed capacity 655 tpd
1964 (Area: 57.9 acres)
Production in FY10 180,831 MT
Furnaces 3 (15 manufacturing lines)
Other comments
• On-site bottle printing facility
with four decorating lines
• Amber and flint glass
manufacturer
• Foundry and mould workshop
• Energy feed through captive
power generating facilities
31
Bahadurgarh

Manufacturing Facilities (contd.)
Plant details: Rishikesh (Uttarakhand)
Description
Year of acquisition 2002 (Area: 14.3 acres)
Installed capacity 425 tpd
Production in FY10 116,054 MT
Furnaces
Other comments
2 (1 furnace used for Green glass
manufacture; 6 manufacturing
lines )
• On-site printing facility with
three decorating lines
• Green, flint and Georgia green
32
Rishikesh

Manufacturing Facilities (contd.)
Plant details: Puducherry (Union territory)
Description
Year of acquisition 2002 (Area: 46.5 acres)
Installed capacity 370 tpd
Production in FY10 114,745 MT
Furnace 1 (4 manufacturing lines)
Other comments
• On-site printing facility with three
decoration lines
• Sand beneficiation plant, foundry
and mould workshop
33
Puducherry

Manufacturing Facilities (contd.)
Plant details: Nashik (Maharashtra)
Description
Year of acquisition 2005 (Area: 70.3 acres)
Installed capacity 390 tpd
Production in FY10 109,127 MT
Furnace 1 (4 manufacturing lines)
Other comments
• On-site bottle printing facility
with three decorating lines
• Flint glass
34
Nashik

Manufacturing Facilities (contd.)
Plant details: Neemrana (Rajasthan)
Description
Year of acquisition 2007 (Area: 12.3 acres)
Installed capacity 180 tpd
Production in FY10 56,795 MT
Furnace 1 (3 manufacturing lines)
Other comments
• Manufactures flint and amber
glass
35
Neemrana

Technological Strengths
State-of-the-art Technology from Global Majors in place to further boost operational efficiencies
and product quality which includes:
� Batch-houses from Zippe (Germany)
� Furnaces from Sorg and Horn (Germany).
� Furnace control System from STG( Germany ) , Sorg ( Germany ) and Horn ( Germany).
� Distributor and Forehearths from Emhart (USA) , BHF ( the UK) .
� Supervisory Control and Data Acquisition systems from Siemens ( Germany).
� IS machine electronic control system from Bottero (Italy) and Futronics (Germany).
� Parallel mold brackets machines AIS(Emhart –Switzerland ) and E- MOC (Bottero -Italy) .
� Plunger mechanism and Process Control equipment from Quantum –TFA ( USA ) , Emhart -PPC( Switzerland) and
HEYE ( Germany) .
� NNPB Development Technology from HEYE ( Germany) .
� Hot –End Cullet Return System from Zippe ( Germany ) and Carmet ( Italy) .
� Annealing & Decorating lehrs from Pennekamp ( Germany ) and Carmet ( Italy) .
� Surface treatment equipment from Graphoidal ( the UK) , Pennekamp ( Germany) , Arkema (The Netherlands )
and IMACA (The Netherlands ).
� Hot –End ware handling equipment from Heye International (Germany), Pennekamp ( Germany) and Sheppee
(the UK).
� Bottle printing equipment from Strutz (USA) and Rosario (The Netherlands).
� Bottle inspection machines from SGCC–MSC (France), Heye International (Germany) and IRIS (France).
36

Supply chain
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
37

Environment, Health and Safety
� 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
38

Corporate Social Responsibility
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 being run 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
� Donated Rs ~1.2 million to few social organizations and Handicapped University, Chitrakoot.
� 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
39

Float Glass Business

Summary
� Strategic move by Company to venture into higher margin Float Glass industry with associate HNG
Float Glass (c.47% shareholding)
◊ Proposed to be made a subsidiary
� Indian Float Glass industry has been growing at c.18% CAGR over the last three years
◊ Growth drivers
◊ Low per capita consumption of Float Glass in India of 1.0 kg as compared to 12 kg in
China and 10.4 kg in USA
◊ Growth in real estate and automobile sector in India
� Greenfield expansion in the float glass business by setting up a plant at Halol, Gujarat
◊ Manufactures glass to meet the needs of Construction and Auto sectors
◊ Existing facility is an integrated glass plant having capacity to manufacture toughened,
insulated glasses for architectural and automotive application.
◊ Largest domestic players – well positioned to capitalize on the high growth potential
◊ Capacity: 600 tpd set up at a capex of INR 6 bn
◊ Commenced production in Feb ‟10. Company marketed 16,147 tonnes in FY 2010
◊ Fully positioned to break-even in the first full year of operations – expected to generate
small profit in FY 2011
41

Market overview
� Nascent industry in India with a per capita consumption of 1.0 kg as against China (12 kg), ASEAN
(8.4 – 11 kg), Europe (12.5 kg) and USA (10.4 kg)
◊ India has eight float glass lines compared with 196 in China
� India‟s total installed capacity for float glass is estimated to be c.4,700 tpd
� In FY10, imports were estimated at 0.1 m MT, largely from China and Indonesia.
◊ To support indigenous manufacture, the Government imposed an anti-dumping duty of
US$ 130 per ton on imports from China & Indonesia.
� Growth drivers
◊ Growth in real estate 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 car segment
42

Overview of HNG Float Glass Ltd
� Overview
◊ Commenced production in a record time of 21 months
◊ Plant achieved global production efficiency benchmarks within a short span of 5 months
◊ Competitors include Saint Gobain, Asahi, Gujarat Guardian, Gold Plus, Sejal, etc.
� Certifications - Materials manufactured as per European standards EN 572-2 and ASTM C1036 -06
(U.S. standards). Certification for integrated management system confirming to ISO 9001 &14000,
OHSAS 18000
� Procurement of raw material
◊ Diversified supplier base for each raw material to reduce any business risks on account of nonsupply
◊ c.18% of raw material is sourced within 100-150 km and 20% of the production is sold within
500 km
� Product has been well received in the market and the Company has been increasing presence with
a distribution network of 758 agents spread across India
43

Competitive benchmarking
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 212 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
44

Business Strategy and Expansion
Plans

Key Success Factors
� 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
46
HNG’s Status
◊ Market share of ~ 55%
◊ Low debt/equity of 0.35x
◊ 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
� Emerge as a value driven manufacturer through increasing production of light weighted bottles
thus enhancing margins
� Setting up of a large Glass Manufacturing complex at Andhra Pradesh and proposed Greenfield
projects in North and West India
� Implemented high quality information systems (Business Intelligence modules and Performance
Management Systems) to closely monitor and improve key operating metrics
� Leverage capabilities of acquiring and turning around underperforming global assets by
replicating the model already successfully achieved in India
� Higher complimentary cost advantages in sourcing higher volumes of IS machines and spares
from GEIL, 100% subsidiary
� Reinvest in fresh capacity to continue to take advantage of significant end user industry growth
◊ Increase capacity of container glass by 3,150 tpd in next 5 years
� Acquired four units in last eight years to enhance competitive edge by increasing geographic
presence and acquisition of new customers
� Leveraged existing relationships with customers and service their growing needs in other
countries with supplies being made out of facilities in India
47

Strategic initiatives (contd.)
� Brought modern management practices into play to enhance production, reduce cost and
strengthen overall efficiency (introduced NNPB technology in 2008)
� Emerge as a leading player in the Float Glass container business in India
◊ Current market share of 15% and projected to grow further
◊ Further capacity of c. 1,000 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)
� Technology tie up with Global majors
� Implementation of information systems to closely monitor and improve key operating metrics
48

Expansion plans
Greenfield in
Andhra
Pradesh
Greenfield in
North
Greenfield in
West
Maintenance
capex/ Rebuild
Capacity
addition (tpd)
Other expansion plans include
650 INR 7.0 bn
Investment Other comments
49
• Land has already been allotted
• Project commenced from July‟10
• Targeted project completion date is Mar‟12
650 INR 6.0 bn • Land under identification
650 INR 6.0 bn
• Procurement of equipment for the new facility
• Civil work to commence soon
1,045 INR 11.4 bn • Maintenance and furnace rebuilds
� Acquisitions (domestic and international) and would be guided by the
“ value buy” proposition, as in the past
� JV with OMCO, Belgium for Moulds/ Moulds Accessories

Enhancing margins
� Shift to gas in manufacturing process, by replacing Furnace Oil and LPG at Bahadurgarh and Neemrana;
agreement signed with Essar for supply of Coal Bed Methane to Rishra plant
Bahadurgarh Already in place
Neemrana Commenced in September, 2010
Rishra Expected by April, 2011
� Designing and mould manufacturing facility in the Company, with own Foundry
◊ Proposed JV with OMCO, Belgium to provide further cost advantage
� Economies of scale in procurement of Raw Materials/ Consumables
� Competitive advantage in sales – quantity and pricing
� Introduced NNPB for the first time in India thus reducing bottle weight and producing more bottles,
boosting margins
� Sand Mining – Bankura, Sand beneficiation plant for Rishra unit
◊ Currently exploring opportunities for other plants as well. Assurance of long term supplies,
economy and better quality
� Increase in transportation fleet – ensuring both economy and in-time delivery
50

Financial Snapshot

Consolidated P&L
All values in INR million
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%
PAT 2 1,205 1,081 1,541
PAT Margin 11.7% 8.1% 1 11.1%
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
52

Realisation, volume and revenue
900,000
675,000
450,000
225,000
-
14,677
695,820
17,127
17,377
765,478 782,585
FY 2008 FY 2009 FY 2010
Sales Quantity in MT (LHS)
Average Realisation in INR/MT (RHS)
53
40,000
30,000
20,000
10,000
-
30,000
24,000
18,000
12,000
6,000
-
21%
10,212
18%
13,110
23%
13,599
FY 2008 FY 2009 FY 2010
Sales in INR m (LHS)
PBITDA margin (%) (RHS)
30%
25%
20%
15%
10%
5%
0%

Realisation by segment
Segment
Net 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 9-10% w.e.f. 1 February 2011
54

Consolidated Balance Sheet
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
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 0.35x

Hindusthan National Glass & Industries Ltd. (HNG)
THANK
YOU
For any queries/to obtain more info, please
write at investor.relations@hngil.com

Annexure

Management team
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
58

Management team
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
59

Management team
Jalaj Kumar Malpani, Vice President - Commercial
� Qualified Chartered Accountant and Cost Accountant
� He handles corporate MIS, Annual business plan and quarterly performance reviews, and heads other commercial
functions
� Recipient of Jawahar Award in SAIL 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 restructuring
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 ,Videocon Narmada Glass, and Hotline Glass Ltd.
� 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
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
60

Management team
Bishnu Kumar Kedia, VP - 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)
Milan Chattaraj, SVP – Corporate HR
� He is a post graduate in Personnel Management from XISS - Ranchi
� Has over 18 years of rich experience in HR functions. Before joining HNG, he has worked with TATA Motors,
Denso, Taj Hotels, Vodafone Essar and MTR Foods.
� Has worked for various companies across industries and handled diverse roles within the Human Resource and
IR function
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, 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
61