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Sumitomo Chemical India Limited

25th Annual General Meeting

August 4, 2025

- Ms. Deepika Trivedi – Company Secretary, Sumitomo Chemical India Limited:

- Good afternoon, everyone. It is 2:30, Indian Standard Time and the quorum for the meeting is present, so we can start with the meeting.

- Mukul Sir, it's 2:30, so we can start with the meeting.

- Dr. Mukul Asher – Chairman, Sumitomo Chemical India Limited:

“Ladies and Gentlemen,

It is now past 2.30 p.m. and the necessary quorum being present, I call the Meeting to

Order. The Scrutinizers, the representatives of the Statutory Auditors and the

Secretarial Auditors are present in this Meeting. The Notice of the Meeting has already been circulated and may I, with your kind permission, take it as read?”

- A Shareholder:

- Yes, Sir. Yes, Chairman Sir.

- Dr. Mukul Asher – Chairman, Sumitomo Chemical India Limited:

- The member’s speakers have been muted. Yes, shall I continue?

- A Shareholder:

- Yes, Chairman Sir.

- Dr. Mukul Asher – Chairman, Sumitomo Chemical India Limited:

- Okay.

- The member speakers have been muted. In the question answer session name of the speaker member will be called out. His or her speaker will be unmuted, and the speaker will be able to speak. The Register of Directors and Key Managerial Personnel and their shareholding kept under Section 170 of the Companies Act 2013, the

Register of Contracts and arrangements kept under Section 189 of the Companies Act,

2013, the Auditors’ Reports and the Secretarial Audit Report are laid on the table. They are also available on the Company’s website www.sumichem.co.in for inspection by the members during this Meeting. As this Meeting is being held by means of video

1 conferencing, the facility for appointing proxy has not been given to the members and hence, Register of Proxy is not laid on the table. The Auditors Reports are unmodified and do not contain any qualification, reservation, or adverse remarks. Similarly, there are no qualifications, observations, or remarks in the secretarial audit report.

- I have enquired about the efforts made by the company and have satisfied myself that the company has made all efforts feasible under the circumstances to enable the members to participate in this meeting and vote on the items being considered in this meeting. E-voting process for voting in this meeting has already commenced. The members attending this meeting who have not availed remote e-voting facility are eligible to vote on the resolutions through e-voting process. I request such members to cast their votes.

- Let me now deliver the Chairman's speech.

- Esteemed shareholders, board members, colleagues, and stakeholders, good afternoon, and a very warm welcome to all present at the 25th Annual General

Meeting of Sumitomo Chemical India Limited. It is a privilege to address you, as we reflect upon a year that truly marked a turning point for our company - a year of resilience as our Annual Report cover suggests. A year of resilience amid structural challenges and global uncertainties facing both the country and the industry. Please permit me to introduce my colleagues on the Board and the Company Executives present in this meeting. You have met most of them in the previous AGM's.

- We have with us:

 Mr. Chetan Shah, Managing Director & Chairman of CSR Committee.

 Mr. Sushil Marfatia, Executive Director.

 Dr. Suresh Ramchandran, Deputy Managing Director.

 Mr. Ninad D Gupte, Director.

 Mr. Tadashi Katayama, Director.

 Mrs. Preeti Mehta, Independent Director & Chairperson of the Audit

Committee and the Nomination and Remuneration Committee.

 Mr. Masanori Uzawa, Director.

 Mr. N Sivaraman, who was appointed Independent Director at the last AGM.

 Mrs. Deepika Trivedi, Company Secretary.

 Mr. Kunal Mittal, Senior Vice President, PCO.

 Mr. Anil Naval, Chief Financial Officer.

- Let me now make some remarks on industry context and the macro environment.

Climatic conditions were pronounced. India's monsoon in 2024 recorded 107.6% of the long period average, with surplus rainfall in key months. While beneficial for overall water tables and subsequent Rabi sentiment, the erratic and excess rainfall in several regions disrupted crop protection activity and delayed or suppressed agrochemical spraying. North India’s cotton acreage, a key market, shrank by nearly

40% on pest and price weakness, causing a demand reset within one of our largest

2 segments. Despite these headwinds, the Company’s focus has been on strategic agility, nimbleness in the supply chain, and channel engagement enabling the

Company to not only address the weather related issues, but also take advantage of wider emerging opportunities.

- India’s agriculture sector, which anchors our operations, continued to demonstrate resilience, accounting for nearly 46% of the nation’s employment. Improvements in irrigation, input accessibility, technology adaptation and institutional financing have supported this sector’s ability to weather climate, and economic shocks. The resilience has underpinned robust output, including record foodgrain production of

353.96 million tons in FY24-25 registering increase of about 6.5% over FY 2023-24 and aiming to achieve further growth in production in 2025-26.

- Management:

- Moderator Sir, if there is a problem, should we then switch to backup option?

- Moderator:

- Yes Sir, with Chairman’s permission.

- Dr. Mukul Asher – Chairman, Sumitomo Chemical India Limited:

- Despite global volatility and pricing pressures impacting agrochemical exports, the domestic environment for agricultural inputs promises to be positive. A robust Rabi season and the current favourable monsoon has signalled green shoots of recovery, instilling optimism across the value chain.

- Management:

- Moderator, I think we need to go to the backup option. So, I request you to keep the audio of this board room and the video of Mr. Chetan Sir, he will be able to cover up this.

- Moderator:

- Okay, Sir.

- Management:

- Moderator Sir, you can mute Chairman Sir and we can start with the process.

- Moderator:

- Done Sir.

- Management:

- You can switch to video.

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- Dr. Mukul Asher – Chairman, Sumitomo Chemical India Limited:

- Okay. Alright. Let me now go to the operational …..

- Management:

- Moderator Sir

- Moderator:

- Sir, I've muted, Sir. Chetan Sir you may continue with the proceeding.

With consent of the Chairman, Mr. Chetan Shah, Managing Director, continued with the Chairman’s Address.

- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

- Dear shareholders, I apologize for this technical glitch. I think there is some issue in the connection of the Chairman Sir, and I will read out the remaining part of his speech.

- Financial Year 25 was a year of solid recovery and operational excellence for the company. The company achieved an impressive 11% year-on-year revenue growth with total revenue of ₹31,485 million up from ₹28,439 million in financial year 24.

- This growth was predominantly volume-led, 20% volume growth in branded domestic business and over 30% volume growth in exports underscoring as the strength of our domestic franchise and our agile response to market dynamics.

- Let me now tell the financial highlights.

- Gross profit student ₹12,896 million with gross margin of 41%, up 337 basis points year-on-year. EBITDA ₹6,321 million with 33% year-on-year growth with margin at

20.1% - an improvement of 339 basis points. Profit after tax stood at ₹5,064 million with plus 37% year-on-year and net profit margin 16.1% up 308 basis points. Net worth of the company stood at ₹29,051 million and working capital days maintained at 89 versus 91 in financial year 24.

- These are record highs for margins and absolute profitability in the company's history, the testament to favorable product mix, cost discipline, and operational efficiency.

These numbers, especially sustained margin improvement, underscore our disciplined procurement, favorable product mix, and operational excellence. It is notable that these gains were forged despite sharp pricing declines and episodic operating pressures in the domestic and global trade.

- Let me tell you about our strategic business highlights.

- The branded business continued leadership with the robust domestic performance supported by deeper channel penetration and initiatives like company’s flagship,

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Everyday Farmers Day Campaign, which engaged over one million farmers and thousands of channel partners. Exports despite Q4 headwinds driven by global market volatility, the company delivered a surge in full year exports, notably with sales to

South America and North America rising by 78% and 44% respectively.

- Innovation and New Launches - We launched several cutting-edge products, including

Meshi, Portion, Ormie and initiated commercial production of CTPR at our Tarapur plant accelerating backward integration strategy. Received fast track Indian

Regulatory approval for two next generation Sumitomo molecules, which are Excalia

Max, a patented fungicide global blockbuster originally developed by SCC, Japan and

Lentigo, a rice herbicide. Excalia Max is set to begin Indian production in the coming year in our Tarapur facility with plans to locally manufacture its technical Ingredient within the next 12 To 15 months. Focused on expanding specific specialty portfolio with high margin products and upgrade the product mix, maintaining sustainability in the margin profile.

- Subsidiary Performance - The Company’s subsidiary Barrix Agro Sciences Private

Limited had a transformative first full year. Revenue grew by 82% and EBITDA margin swung from -15% to +16%, demonstrating the success of the company's integration and turnaround strategy.

- Let me now touch upon capital expenditure and capacity expansion. The company remains committed to investing in the future - launched two strategic brownfield

CapEx projects. First one in Bhavnagar site. The second plant for a key SCC innovated molecule, doubling capacity and supporting global requirements with ₹55 crore investment for completion by Q4 Financial Year 27. Tarapur facility equipment modification for newly launched SCC molecules Excalia Max with an investment of less than 10 crores also targeted for Q4 27.

- These investments consolidate the company’s manufacturing skill-set and enable it to support both domestic and global growth mandates as well as lay groundwork for subsequent Greenfield expansion at Dahej. The company continues to work with SCC

Japan on strategic projects, including evaluation of opportunities in semiconductor chemicals, a step aligned with the parent group's global vision. Our digital farmer engagement, which we call phygital transformation, deepened during the year. It harnessed rural digital connectivity, deploying, data-driven digital marketing and field activities, tracking applications - engaging with 142 million digital touch points and driving efficient localized campaigns. The company’s unique “Live Field Days” blended digital and on-ground demonstration, amplifying reach and farmers trust.

- Sustainable growth and governance – The Company prioritizes safety, quality, and sustainability at every level. Three fully equipped DSIR-approved R&D Labs and over

75+ dedicated R&D professionals sustained focus on green chemistry, environmental stewardship, and workplace safety - recognized by a suite of national and state level awards. A professionally autonomous board and experienced management continue to guide the company’s growth journey in close partnerships with the parent - SCC

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Japan in delivering on its vision, innovation, ethical leadership, and stakeholder value creation.

- As we look to financial year 26, the outlook is robust. Early monsoon onset, stability in sowing patterns and healthy demand environment positions the company well for future momentum. The company will drive volume led growth particularly in high margin specialty products; scale up recently launched innovations reinforcing our leadership positions in fungicides and herbicides; remain disciplined on working capital and operational efficiencies; accelerate expansion both in India and globally through strategic investments and partnerships.

- Today, earlier in the day, the company’s board approved first quarter unaudited financial results for current financial year. Mr. Chetan Shah, Managing Director will share with you the highlights of the results. In closing, financial year 2025 was a milestone year for the company – one where resilience, disciplined execution, and the entrepreneurial drive of its teams contributed significantly.

- Before I conclude, please permit me to extend my deepest appreciation to our employees and management, whose spirit and productivity led to historical margins and prifit benchmarks, our channel partners, farmers, and customers for their continued trust, partnership, and engagement, our Board for their unwavering vision and stewardship, our global SCC Group colleagues for thought leadership and technology transfers, our shareholders for their unwavering support.

- The company has emerged not only stronger, but more future-ready with a diversified portfolio, unmatched branding, and a pipeline built for leadership in agrochemical space. With its strong balance sheet and execution capabilities, the company stands ready to define not just the coming year, but the future of India agrochemicals.

- Thank you for your confidence. Let us go forward together.

- Thank you very much. Thank you, Chairman Sir.

- And now on the first quarter result financial year 26.

- Good afternoon, everyone. It gives me great pleasure to welcome you all to the

Annual General Meeting of Sumitomo Chemical India Limited. Thank you for joining us today and for your continued trust in our journey of sustainable growth and value creation. I would like to share a brief overview of our performance for the first quarter of financial year 26 - a quarter in which the company has delivered its best ever Q1 performance, both in terms of revenue and operating margins. The southwest monsoon arrived early and progressed well. This created a favorable backdrop for early sowing and timely application of agrochemicals across key agricultural regions.

Agri environment momentum translated into strong numbers - our revenue from operations grew 26% year-on-year to ₹10,568 million in Q1 of financial year 26 compared to ₹8,389 million in Q1 financial year 25. EBITDA increased by 36% to

₹2,192 million from ₹1,611 million the previous year’s quarter - with EBITDA margin expanding 154 basis points to 20.7% from 19.2% last year. Net profit rose by 41% to

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₹1,781 million compared to ₹1,267 million in Q1 of financial year 25 reflecting robust execution and margin resilience across the business. While we are encouraged by the strong start to the year, we remain mindful of the seasonal nature of this industry.

Performance may vary across quarters and therefore we continue to evaluate our progress on an annualized basis. With IMD projecting normal to above normal rainfall for the remainder of the season and kharif acreage already 5% higher than last year, the outlook remains constructive and positive.

- Let me also take a moment to update you on a recent business development. As many of you may be aware, our company was engaged - rather is engaged - in distribution of animal nutrition products in India, which were being sourced from our parent company, Sumitomo Chemical Company, Japan. Following a change in SCC's global business strategy, the supply of these products to SCIL will be discontinued shortly.

As a result of which your company will discontinue to distribute these products in

Indian markets. This business segment was a pure trading activity with relatively low margins and its discontinuation is not expected to materially impact the company's profitability, although it will have a sizeable effect on imported sales turnover. We are fully committed to bridging this gap through accelerated growth in our core crop protection and specialty segments where we continue to see significant headroom for expansion.

- Going forward, our focus will remain on strengthening our brand equity, deepening farmer connect, and driving operational efficiency. Through our commitment to innovation, agility, and customer centricity, we remain confident of sustaining long- term value creation for all our stakeholders.

- Thank you once again for your unwavering support and belief in SCIL. Thank you very much.

- Ms. Deepika Trivedi – Company Secretary, Sumitomo Chemical India Limited:

- I will now enumerate the six resolutions proposed to be taken up for voting in this meeting through e-voting process.

- The first resolution is an ordinary resolution for adopting the financial statements and the reports of the Board and the auditors.

- The second is an ordinary resolution for declaration of dividend of ₹1.20 per share on equity shares as recommended by the Board.

- The third resolution is an ordinary resolution for approving reappointment of Mr.

Ninad D. Gupte as Director. Mr. Gupte retires by rotation and being eligible offers himself for the reappointment.

- The fourth resolution is an ordinary resolution for approving appointment of Messrs.

M K Saraf & Associates LLP as the company/s secretarial auditors for five consecutive financial years commencing with the financial year 2025-26 and ending with the

7 financial year 2029-30. This resolution has been proposed to meet with the new requirement laid down by the SEBI listing regulations.

- The fifth resolution is an ordinary resolution for approving material related party transactions entered into and proposed to be entered into with Sumitomo Chemical

Company Limited, a related party during the financial year 2025-26.

- The sixth and the last resolution is an ordinary resolution for ratification of the remuneration of Messrs. GMVP & Associates LLP, the Cost Auditors.

- I now invite the members to raise queries, give their comments or ask questions, if any. Moderator Sir, Mr. Ashish Upadhyay, we will now begin with the question-and- answer session. Please note that each speaker will be allotted a time slot of three minutes which all the speakers are requested to follow. We will be noting questions of all the speakers and the same will be answered after all the speakers have completed their speeches. Moderator Sir, the first speaker is Mr. Bimal Kumar

Agarwal. I request you to kindly unmute him.

- Moderator:

- Mr. Bimal, you are in the panel, please enable your video, and you may ask your question.

- Mr. Bimal Kumar Agarwal – Shareholder:

- Hello, can you hear me?

- Moderator:

- Yes, you are audible, Sir.

- Mr. Bimal Kumar Agarwal – Shareholder:

- First of all, I will thank the Company Secretary and her team, management staff and the shareholders. Good afternoon to you, Sir. Good afternoon to you, good evening, good night, and good morning to other shareholders who have joined from different part of the world. I don't know who might have joined also. Sir, your MD speech was so great that you have kept no stone untouched to ask any question. I just got one or two questions. What is the cost of the Annual Report and what is the AI technology we use and if it will be beneficial for the staff in future or no, because I heard that many staff will lose their jobs and also I want to know what is the cost of the e-mail you have sent to the each shareholder and that's all from me and thank you. I again thank the Company Secretary, but last not the least, also Ashish Upadhayay from Link

Intime, they are they are very nice people and also, I thank Prashant from Link Intime.

That's all from me. If anyone is left from Link Intime sorry for that. I couldn't tell them anything. Thank you very much. Please continue with video conference always.

That's all from me. Thank you very much.

- Mr. Chetan Shah – Managing Director, Sumitomo Chemical India Limited:

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- Thank you.

- Moderator:

- Thank you, Mr. Bimal. I now invite our second speaker for the meeting, Mr. Kaushik

Shahukar. Mr. Kaushik, you are in the panel, please enable your video and you may ask your question.

- Mr. Kaushik Shahukar – Shareholder:

- I'm audible Sir?

- Moderator:

- Yes, you are audible, Sir.

- Mr. Kaushik Shahukar – Shareholder:

- Thank you. Good afternoon, respected Chairman, esteemed Directors, and Key

Managerial Personnel, it gives me immense pleasure to interact with you once again this year. I am also grateful to our Company Secretary for granting this opportunity.

Coming to the Annual General Meeting, I would like to seek only clarification - with the increasing global push towards sustainable agriculture and reduced chemical footprint, how is Sumitomo Chemical balancing the need for high yield for crop protection solution with the adoption of biobased and precision agriculture technologies and what proportion of your current R&D budget is allocated towards these sustainable innovations? Before concluding, I would like to share thought that a view reflects our company’s all inspiring journey like healthy soil nurturing every seed,

Sumitomo Chemical India nurtures innovation, sustainability, and growth. I know what we sow today becomes a better harvest for tomorrow. On a lighter note, with a name like Sumitomo Chemical, I request you to invent a formula that turns weed into vegetables. Now that would solve both farming and dinner problems. I'm confident that people will continue to stand by me with its unwavering blessings and association, our supporter and powers will remain professionally resilient.

- Lastly, I kindly request the management to consider organizing a branch visit or CSR initiative visit for speaker-shareholders. This will offer us a firsthand view of the impactful work done by our company at the grassroot level and allow us to celebrate the positive change being created through our CSR initiative. Additionally, I humbly suggest savings from virtual meeting to thoughtfully utilize for shareholder welfare - perhaps show small token of appreciation for our emotional connection with our company. Thank you all for time and patience and continue support. I look forward to engaging with you again next year. Thank you, Sir.

- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

- Thank you.

- Moderator:

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- Thank you, Mr. Kaushik. I now invite our third speaker for the meeting, Ms. Leka Shah.

Lekha ma'am, you are in the panel. Please enable your video and you may ask your question. Lekha ma'am, you may speak now. Lekha ma'am, you may speak now. It seems some audio connectivity issue.

- Ms. Leka Shah – Shareholder:

- Hello?

- Moderator:

- Yes, ma'am, you are audible. You may speak now.

- Ms. Leka Shah – Shareholder:

- Am I audible?

- Moderator:

- Yes, you are audible, ma’am.

- Ms. Leka Shah – Shareholder:

- Thank you, Ashishbhai. Respected Chairman Sir, Board of Directors, and my fellow members, good afternoon and regards to everyone. Myself Lekha Shah from Mumbai.

Chairman Sir, your opening remarks, they're so insightful and comprehensive that you have already addressed everything I had in mind and also thank you Chetan Sir for such an informative wonderful presentation. Congratulations to our company for completing 25 years. Sir, please arrange a get- together or site visit for the available members present at the meeting. Sir, I would like to ask few questions. My first question is, what is the road map for the next two years? My second question is, how much our PAT in current financial year will be affected because of the trade war? What is the total number of employees? How many woman employees are working in our company? Thanks Link Intime for logging without any problem. I would like to thank them for their best services, especially Ashishbhai. Sir, I strongly and wholeheartedly support all the resolutions for today's meeting. Sir, please continue video conferencing meeting in future. Thank you, Sir.

- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

- Thank you.

- Moderator:

- Thank you, Lekha, ma'am. We invite our fourth speaker for the meeting, Mr. Vinod

Agarwal. Mr. Vinod you are in the panel, please start your video and you may ask your question.

- Mr. Vinod Agarwal – Shareholder:

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- Hello, can you hear me?

- Moderator:

- Yes, you are audible Sir.

- Mr. Vinod Agarwal – Shareholder:

- Yeah. Can I start my video?

- Moderator:

- Yes Sir, you can start your video also.

- Mr. Vinod Agarwal – Shareholder:

- Yeah. My videos is on it seems. Respected Chairman, Mr. Mukul Govindji Asher, MD

Chetan Shah, Executive Director Sushil Marfatia, CFO Anil Naval, and our CS Deepika

Trivedi, regards and good afternoon to everyone present in the AGM. Sir, our revenue last year and PAT also was substantially high on the consolidated basis we had 506 crores of PAT against 370 crores in the previous year. We had EPS of ₹13, but the dividend that you have ₹10.13 paise. Sir, you have given dividend of ₹1.20 that's about just 12%, Sir. We expect 20%-25% to be shelled out as dividend and balance sheet is such strong Sir. When I was going through the liquidity part of it, you got about 1400 crores of liquidity, Sir, means current investments, current cash bank, current everything. When I'm seeing you got about 1400 crores of liquidity, out of that liquidity Sir my one query is on that ₹101 crore we have given unsecured corporate loan to some entity. I don't know which entity it is, what interest are we charging to them? Why is it unsecured? What is the reason for giving 101 crores unsecured loan to corporate entity? This is my one query. In the annual report, I find that we are doing a lot of pesticide, herbicide everything very fine, Sir.

- We're also doing pesticides for the home section Sir. Are we doing Termiseal or anything equivalent to Termiseal which kills termites affecting our house, any of that kind of medicine are we doing I would like to know, Sir. Our company is great, great balance sheet, zero debt, liquidity as I mentioned, and the annual report that has been prepared, it's such a nice one Sir. Pictorially it depicts, graphically it depicts, tabularly it depicts, all the vast information concisely, Sir. It's a nice annual report. I give compliments to the team that has prepared the annual report and on the tariff front,

I don't see we should be affected as to the North America, as shown in the annual report, our exports only 1% Sir. If 1% is less and there is tariff on that, then also it won't much affect us for the North American tariff, Trump tariffs should not affect us

Sir. We are exporting more to Africa, Latin America, and other parts of the world Sir, so it will be better for us that Trump tariff is not going to affect us. I wish the company all the best, signing off, Vinod Agarwal. I also compliment for the first quarter good results that you have declared today, Sir. Signing off, Vinod Agarwal from Mumbai.

Thank you, Sir.

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- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

- Thank you. Thank you.

- Moderator:

- Thank you, Mr. Vinod. I now invite our fifth speaker for the meeting, Mr. Anil Mehta.

Mr. Mehta, you are in the panel. Please enable your video and you may ask your question.

- Mr. Anil Mehta – Shareholder:

- Hello. Am I audible? Hello, am I audible?

- Moderator:

- Yes, you're audible, Sir.

- Mr. Anil Mehta – Shareholder:

- Thank you, Ashish. Good afternoon to all. This is Anil Mehta attending this meeting from my residence in Kandivali, Mumbai. Sir, I have few questions. The first question is that looking to the trade war and the present situation with our neighbor country and also the present repo rate, how much growth can we expect in current FY 2025-

26? Second, Sir, why we are keeping the 233 lakhs in the current account where we are not getting any interest from the bank. Third, Sir what is our annual yield by investing in a mutual funds and what interest rate we are paying by borrowing the amount from the bank? Kindly justify the difference of rate of interest. Sir, for the exchange risk cover, we have taken the forward contract, but what about the overseas buyer risk? With this, we are supporting all the resolution and thank you and all the best for the bright future of our company.

- Moderator:

- Thank you, Mr. Mehta. I now invite our sixth speaker, Mr. Bharat Negandhi. Mr.

Bharat, you are in the panel, please enable your video and you may ask your question.

- Mr. Bharat Negandhi – Shareholder:

- Hello.

- Moderator:

- Sir, you are audible.

- Mr. Bharat Negandhi – Shareholder:

- Hello, audible?

- MOderator:

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- Yes, you are audible Sir.

- Mr. Bharat Negandhi – Shareholder:

- Respected Chairman, board of directors, and fellow shareholders. My name is Bharat

Negandhi. Firstly, I have received the annual report in time. Report is very beautiful, authentic, and transparent. I congratulate Company Secretary Deepika Trivedi and team to send me the physical copy to my residence address. I want to ask six to seven questions.

- #1, Sir auditor’s sign is 26th May, but meeting will be held on 4th August. Today, 4-5 meetings are there. So, I think you should early this meeting because over three months already passed. #2, Sir what is the CapEx program? #3, what is the dividend distribution policy? #4, total number of the employees in the office and the plant? #5, how many subsidiary companies are profit making? #6, page number 153 - other expenses, travelling, conveyance, sales promotion advertising, power and fuel, insurance and miscellaneous expenses have gone up, please give me the details. I fully support to pass all the resolutions and with bright and healthy future of the company and one more thing, Sir this is your 25th AGM is there, so how do you celebrate and once again I request you those who are speaker-shareholders at least give us plant visit, you, arrange the plant visit in the future, please. Thank you very much once again, I thank you for Deepika Trivedi and Company Secretary and team to send me the physical copy. Thank you, Sir. Thank you.

- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

- Thank you.

- Moderator:

- Thank you, Mr. Bharat. I now invite our seventh speaker, Ms. Homayun Pouredehi.

Ma'am, you are in the panel. Please enable your video and you may ask your question.

- Ms. Homayun Pouredehi – Shareholder:

- Can you hear me?

- Moderator:

- Yes, you are audible ma'am.

- Ms. Homayun Pouredehi – Shareholder:

- Thank you. Thank you. So, I'll proceed. Good afternoon, everybody. I'm a very old shareholder even before Sumitomo was its name. Many questions have already been asked by my previous shareholders. What I want to just ask is I've also heard your

Chairman speech in detail. I want to ask regarding distribution of your products. I just want to know that. Is it available in the market, in the chemist or through you know those pest controllers? How do you distribute? Why I would like to know is regarding

13 this bed bug nuisance. In the past, as you all know it was this United Phosphorus used to make the drug. It was known as Tik20. It was very effective. Since that has stopped, we have been facing issues and we have come to know that you also manufactured this drug. Tell me one thing, Sir, is it available with the chemist? They give us some other drugs which are not effective at all. You know containers after containers we use and they are not effective. Sir, please let us know what is the name of the very valuable drug for controlling bed bugs, where is it available? Second, do you also give to those pest control people they come and do pest, we would like to know, yeah and other things, how they are available to franchisee you know and how and what's the system of operating, your franchisee, you go to the farmers, you know how the system, I would like to know. Now, I don't want to go further. Your Chairman speech is in detail. We are supporting all your resolutions, we wish you, all the best and we know you all have done very well, you have tried your best and we support the company, and we hope you will continue to do your good work ahead. Thank you very much.

- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

- Thank you.

- Moderator:

- Thank you, Madam. I now invite our eighth speaker Ms. Prakashini Shenoy. Ma'am, you are in the panel. Please enable your video and you may ask your question.

Prakashini ma'am.

- Ms. Prakashini Shenoy – Shareholder:

- Am I audible?

- Moderator:

- Yes, you are audible, ma'am.

- Ms. Prakashini Shenoy – Shareholder:

- Thank you, Ashish. I'm Prakashini Ganesh Shenoy from Bombay. Chairman Sir, since we are meeting for the first time during 2025, I wish one and all happy, healthy, wealthy, and prosperous, 2025. Respected honorable Chairman, other dignitaries on the Board, and my fellow shareholders, good afternoon to all of you. I received the

AGM report well in time, which is colorful, informative, transparent, and contains all the information as per the corporate governance. I thank Deepika Madam for the same. I should not forget to thank Ashish for reminding me of today's meeting and giving me the link. Thank you, Mr. Ashish, from Link Intime. They are the best registrars. Sir, my request is please continue them in future also. The Chairman and the Managing Director have given a beautiful picture regarding the company and its working in all parameters. Thank you, Chairman Sir and MD Sir. At the outset, I am thankful to the Board for recommending dividend for the financial year 24-25. I'm

14 also glad to note that the company is doing outstanding work in the field of CSR activities. Congratulations and thank you for the same. Sir, I have just one or two questions. My first question is, what is the future plan of the company? And my last question is, in current year, how many shares and dividends transferred to IEPF account? Is the company writing to the shareholders before transferring the shares to them? Please let me know.

- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

- Thank you.

- Ms. Prakashini Shenoy – Shareholder:

- Chairman Sir, last but not the least, my honest request to you please continue with VC as told by my predecessor, Ms. Lekha Shah. I also agree with her, so that people all over will have an opportunity to express their views. I wish the company good luck for a bright future and pray God that the profit of the company shall reach the peak in due course. Sir, I strongly and wholeheartedly support all the resolutions put forth in today's meeting. Thank you, Chairman Sir.

- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

- Thank you.

- Moderator:

- Thank you, ma'am. Our ninth speaker, Mr. D K Bhagwat, is currently not present in the panel. So, with this we complete with the speaker shareholder queries and I request Mr. Chetan Shah, Managing Director to address the shareholder comments and the queries. Over to you, Sir.

- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

- Thank you. Thank you.

- Moderator:

- Chetan Sir?

- Management:

- Moderator Sir, just give us two minutes.

- Moderator:

- Sure Sir.

- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

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- So, thank you very much for all the speakers’ participation and some very interesting questions. I'll try and answer one by one or maybe there are some common questions, so the answer will be common. So, the first speaker, Bimal, had asked the cost of annual report, so the cost of annual report is ₹450 plus GST, limited copies, rest of the like details have gone by e-mail. The e-mails have gone to 4,697 shareholders and the cost of emails per person or per e-mail is ₹1.75. So, it is quite cost effective and quite economical to send e-mail rather than you know, print the balance sheets, but of course, we'll continue to print balance sheets in limited numbers and the rest will be sent set up. Also, there was also question of the AI initiative and of course the AI is a big word nowadays, it's a big technology and future technology, so we can also not be left behind in the race of AI. We are pursuing the AI initiatives in the areas like manufacturing and procurement and many other areas and in short time we'll have a concrete plan as to how and where and what AI initiatives we can materialize. There'll be no need to worry about the employees, because we do not plan to reduce our employee strength in spite of the fact that we have AI or not, but we will continue the strength of people.

- There was another question asked by Kaushik about global sustainability and how SCIL is doing? I would like to assure you that global sustainability is very important not only to us, but for our parent company SCC, Japan and we are doing a lot of work in green initiatives and sustainable future. One of the main focus point of SCC, Japan is to be or to continue to be sustainable and we at Sumitomo Chemical India also have adopted this very, it’s very close to our heart and if you see we acquired a green technology company, Barrix India last year and we are growing that company. It is totally green initiative also we have lot of products in green technology which are called biofertilizers, bio-related products which are not chemicals, but they are nutrients and they make a very big portfolio for our Sumitomo Chemical India total portfolio. So, besides herbicides, insecticides, fungicides, we have this bio stimulants and bio pesticides and bio products which constitute almost 8% of our total sales today and this will continue to grow.

- I think your idea about weeds to be turned into vegetables is a very unique and out of the box thinking. I hope one day somebody either we or someone else can achieve this, but a very interesting thought. I have noted it down and we will read more about it. I'll also check with our Japan R&D if they have heard anything of this sort but thank you for that question.

- Ms. Shah, the road map for next two years is very, very clear. It is on the growth path.

We will not only grow in top line; we want to grow in bottom line and also as I said sustainability is very, very important to us, so that will also be at the back of our minds.

Total employees you asked, total employees we have about 1,800 employees on our payroll, and we hire lot of temporary employees during the season in the field or during the peak production season, we hire contract workers, so including that the number may go up to 3,000 plus.

- The dividend being lower as compared to PAT, Mr. Vinod Agarwal asked and I think we have a very clear policy of dividend, which is even on our website it is there and

16 we follow that. You must understand that 75% of the shareholding belongs to our parent and if I want to give more dividend, the parents will be very happy. But you and

I get support from the parents that it will not give the dividend out of the policy, you give as per the policy, keep the money for the right opportunity for future investment and future projects and this will also give benefit to all the shareholders in future by investing this money wisely you know, as and when the time comes, and time is not too far off - I can assure you that. We will use this money very wisely and either it can be acquisition or new projects or whatever and that will give a far better return to each shareholder in terms of health of the company or progress of the company, or the market cap of the company or whatever. So don't worry about dividend - ₹1.20 paise or ₹1.50 paisa is not going to make or break, but the future investment is definitely going to be very, very important.

- You asked about 101 crore corporate loan. No, we have not given any loan to anybody.

The 101 crore which you are referring to is invested in the corporate bonds and they have fixed returns. So, there is no loan given to any corporate body from Sumitomo

Chemical India. There was the question of how much is the rate which we are getting out of this and what is our borrowing cost? So, I'm happy to state that we have never borrowed money from the banks for our working capital or for our capital investment or anything else. So, we have no borrowing cost. We are only investing this money.

Some ₹101 crore has been invested in the corporate bonds.

- Mr. Mehta asked also about the growth expected. When we are here, we are all here only for one purpose and one purpose only and that is as to how to continuously achieve the growth and the expected growth I cannot tell you, but like if you see our quarter one results, you can guess as to what is our growth trajectory. Unfortunately,

I cannot say how much we are going to grow at the end of the year, but hopefully in the next meeting I will be happy if you are there and I would like to know if you're happy with the growth. So, growth is a no compromise - at Sumitomo, growth has to be there.

- I already answered – no you had asked for the annual returns on our investments and

I think it has been a very healthy rate of returns - at least till the year 25 March I think our total was in excess of 8%, which is far more than even the fixed deposit rate. And you also asked about how we are covering the risk of the foreign exchange and all that. Yes, we do that very, very - we have a very strict guidelines as to how to deal with foreign exchange and we don't take any exposure of foreign exchange. We cover

100% of our imports and 100% of our exports at the time when it happens. So, we do not carry any risk. Whatever is the rate it comes into our costing and accordingly the prices of the final products are decided.

- Also, the export risk like for the payments for the export we have a big insurance policy and everything that we it has not happened, we have not got any bad debts and export business, but if at all it was to come, we have covered the entire bad debt from that insurance.

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- Mr. Negandhi asked about time gap between audit reports time and the AGM, 2½ months gap, not three. Yes, 2½ months gap is there - primarily two reasons. One is that after the sign off, we require at least 45 to 60 days for the printing of annual report and the final date is decided because a lot of people from Japan, our Directors have to travel and we need to align the date of AGM on the basis of their arrival, so this time it became 4th. Normally our AGM as you know is in the last week of July.

Only this year we are one week delayed.

- Madam, you have asked this bed bugs issue and bed bugs solutions we shared earlier also. We have a very good bed bug product. The brand name of that is Sumi Pride.

This product is available in the Byculla market, but our sales network is such that we supply these products to pest control operators and pest control operators when you call them, they service to you with our products. Now, I do not know if the pest control operator who serves you is having this product with him or not - that I would not know.

But as a customer you can insist to your pest control operator that please get Sumi

Pride and spray only Sumi Pride for my bed bug problem. If you tell him, he will have no choice, he will have to go to the market and get that product and spray. It's a very effective product and it is doing exceedingly well in the market. So, I would strongly suggest that you ask the PCO to only use the Simi Pride.

- First of all, I would like to thank you Ms. Shenoy for your kind words and appreciating our CSR activities etcetera. Regarding our future plan, I have already answered. You also asked about how many shares went to IEPF. I'd like to inform you that during the year no shares were transferred to IEPF. The Company writes to shareholders giving two to four months before transfer of shares to IEPF. So, it's a very, very – Deepika is here, Pravinbhai is here, I really thank them for being so shareholder-friendly and being so proactive that there was not a single share transferred to IEPF in the last year.

There were many questions or not questions, but queries for the plant visit. Okay, now, hopefully we'll see if we can do something about that for sure.

- So, I think I've answered all the questions. Sorry, I missed on CapEx. So, CapEx when

I covered in my speech about the CapEx, we are having one CapEx of around 55 crores, and another CapEx of 10 crores, which will be immediately implemented. Our long- term CapEx plan has been there, which is around 200 to 400 crores when we develop the site of Dahej, and I think we are working on four projects. The feasibility report is almost completed and submitted to Japan. One of the products is already in the pilot plant stage and rest of the products, we are very, very clear that we want to start production by 2026, so there is a lot of CapEx. Thats I think all I have.

- Management:

- Sir, there was a question on trade war and tariff.

- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

- On the tariff, oh, tariff. Yes there is no - we are not worried about the tariff or of course, as the Indian I am worried about the tariffs and uncertainties, but as far as

Sumitomo Chemical India is concerned, we have no effect of tariffs. So, there is no

18 issue at all and I'm sure that Indian government and people of the country’s team that is negotiating with USA will do a wonderful job and our tariff will be reduced from 25% to whatever minimum extent. But yes, you are right, we are not affected by the tariff as such. And as on today, I don't know, I just got a message one hour back that U.S. is not happy with China too because they have refused not to buy oil from Russia, they are continuing to buy oil from Russia and President Trump has said that he will levy duty of 100% to 500% for China. So, every day there is new thing and if there is 100% duty or 50% duty on China then I mean not only Sumitomo Chemical, but entire Indian agrochemical industry has nothing to worry.

- So, that's all, friends. Thank you very much once again for your participation and asking interesting questions. And, so, now Chairman Sir, can you please continue?

- Dr. Mukul Asher – Chairman, Sumitomo Chemical India Limited – not audible

- Mr. Chetan shah – Managing Director, Sumitomo Chemical India Limited:

- Mukul Sir

- Moderator:

- Chairman Sir, you are not audible. Chairman, Sir, you are not audible.

- Ms. Deepika Trivedi – Company Secretary, Sumitomo Chemical India Limited:

- Mukul Sir, I will continue with the proceedings. So, the company has provided remote e-voting facility to the members to vote on all the six resolutions being business of the meeting and forming part of the notice of this meeting.

- The remote e-voting was conducted between 31st July and 3rd August 2025. As mentioned by the Chairman Sir earlier, the members who are attending this meeting, but who have not availed of the remote e-voting facility are eligible to vote on the resolutions through e-voting process. I request such members to cast their vote through e-voting facility. The board has appointed Mr. Kamalax G. Saraf and failing him, Mr. Mandar K. Saraf as scrutinizes for the remote e-voting and e-voting in this meeting. The Scrutinizer will submit consolidated report on voting and based on the report, the voting results will be announced by the company. The voting results will be put up on the company's website within two working days of conclusion of this meeting. All the business of today's meeting is completed and hence with the consent of Chairman Sir, it is declared that this meeting is concluded. So, Chairman Sir and

Managing Director Sir, we thank you for Chairing and conducting this meeting and guiding us. l propose a vote of thanks to the Chair. We thank all the shareholders attending this meeting, the Board Members, statutory and secretarial auditors, and the company colleagues present in this meeting. We also thank MUFG Intime India

Private Limited and its representatives for providing platform for this meeting and for their support. Shareholders, please note that the e-voting facility will continue to be available for 15 more minutes and now this meeting stands concluded. Thank you.

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End of Transcript