Bira 91 Investors' Presentation of Q2 FY22

Industry is showing signs of rapid recovery. Last quarter was the best one for the beer industry in over 6 quarters. Industry recovered from its lows in Q2 and was closest to pre-covid levels than ever before. This has resulted in a solid gain in our market share – tripled from pre-Covid levels. It drives better EBITDA margins through recovery in NR/CE, better material margins and synergies in fixed costs.