FEBRUARY 2013 Disclaimer No representation or warranty express

FEBRUARY 2013

Disclaimer § No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of J. K. Cement Limited (“Company” or “JKC”), which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment. § Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward -looking statements to reflect future events or developments. Strictly Private & Confidential § This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U. S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom. § This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner. Strictly Private & Confidential 2

Indian Cement Industry: Sustained Demand Growth India, the 2 nd largest cement producer in the world with total installed capacity of 350 mn tonnes Source: CMA § The Cement industry has witnessed secular growth in consumption with quarterly variation in a year Strictly Private & Confidential § The momentum will sustain and gather further steam, driven by: • Expected interest rate cuts in 4 QFY 13 positively impacting demand from housing, infrastructure and industry segments • Multiple state/general elections in the next 18 months • The government’s focus on reviving investment demand • Positive outlook on the Rabi crop rubbing off on rural housing demand. 3 Demand growth - 8% (FY 13) & 10% (FY 14 -FY 15) Strictly Private & Confidential Source: Company Estimates

Expected Slowdown in New Capacity Addition will Improve Utilization of Current Capacity § In the current economic and political scenario, setting up a new Greenfield project has become challenging in view of the following: • Long arduous process of environmental approvals • Land acquisition • Complexity of mineral composition in new areas • Supporting infrastructure of rail connect and water availability • Greenfield project cost in current context is $135$150/ton, depending on the site location § With strong volume growth and decline in pace of capacity addition, utilization (%) will improve, having bottomed out in 2 H CY 11 § The average utilization will be 80% going ahead • Most regions will operate at 90%+ utilization except Andhra Pradesh, which has capacity overhang Strictly Private & Confidential Capacity Utilization to improve from FY 13 onwards Strictly Private & Confidential Source: Company Estimates 4

Prices will Continue to Remain Robust Resulting in Improved Profitability § An annual increase of INR 20 -25 / bag is expected, considering: § 50% of India’s installed capacity has come up in last 5 years • • Improvement in demand growth • Pass-on of cost-push This relatively new capacity requires an EBITDA/ton of Rs. 1, 000 – 1, 100 to justify equity returns • Increase in capital costs • Slowing capacity addition § The rising costs of power, fuel and freight are likely to § At the current Replacement Cost and Variable cost levels, an increase of Rs. 20 -25/bag is necessitated to earn new capacities 15% Ro. CE stabilize, although at slightly elevated levels A significant improvement is seen in EBITDA/ton Strictly Private & Confidential from the trough levels of ~INR 525/ton in 2 HCY 10. The EBITDA/ton is likely to be ~INR 1034/ton in FY 13 and INR 1, 184/ton in FY 14 (v/s. FY 12 average of INR 850/ton). Strictly Private & Confidential Source: Company Estimates 5

Company Background § J. K. Cement Ltd. (“JKCL” or “Company”) is part of the $3 billion conglomerate, JK Organisation. The company is promoted by Dr. Gaur Hari Singhania & Mr. Yadupati Singhania and entered cement business in 1975 § 2 nd largest white cement manufacturer in India with 0. 40 MTPA capacity and one of the leading grey cement producers in North India with over 36 years of experience. § Highly reputed brand with extensive nation-wide distribution § Integrated Cement manufacturing company with 7. 5 MTPA grey cement capacity Strictly Private & Confidential § § • Nimbahera, Mangrol and Gotan (Rajasthan): 4. 5 MTPA • Muddapur (Karnataka): 3 MTPA • 105. 5 MW of Captive power • Proximity and access to large high quality reserves of limestone, sufficient to operate cement plants for the next 30 years. Expanding domestic grey cement capacity to 10. 5 MTPA and white cement capacity to 0. 60 MTPA and wall putty capacity to 0. 60 MTPA by Sept 2014. • Mangrol (Rajasthan): 1. 5 MTPA • Jhajjar (Haryana): 1. 5 MTPA split grinding • Gotan (Rajasthan): 0. 20 MTPA white cement and 0. 30 MTPA wall putty Greenfield Expansion in the Middle East • 6 Fujairah (UAE): Dual process plant - 0. 6 MTPA white cement or 1. 0 MTPA Grey cement § JK Cement’s LT credit rating was recently upgraded to AA- by CARE Ratings § Strictly Private(“NSE”) & Confidential Listed on National Stock Exchange and Bombay Stock Exchange (“BSE”) with a market capitalization of INR 23 bn

Key Highlights v Cement Sector on Strong Foundation with Positive Future Outlook • Sustained demand coupled with slowdown in capacity addition resulting in higher capacity utilization • Improvement in profitability, backed by higher cement prices and operating margins v Integrated manufacturing facilities at multiple locations • Plants in North & South India enable the company to serve multiple regions • 105 MW of captive power and large limestone reserves at close proximity, sufficient for the next 30 years v White cement business cash cow with strong growth and profitability • White cement & wall putty segments contribute consistently to profitability and provide healthy margins & stable cash flows • White cement capacity to increase from 0. 4 mtpa to 0. 6 mtpa by Sept ‘ 14 and augment current market share of 40%. • Wall putty capacity will increase from 0. 3 mtpa to 0. 6 mtpa, in phases during next two years Strictly Private & Confidential v Domestic expansion to consolidate leadership in North and improve operating efficiencies • Expansion plan to tap new markets, increase market share in North India and derive benefit from VAT incentives for entire production at Mangrol and Haryana • North based plants operating at 90%+ and newer plants will offer better operating efficiency • Increase in share from south plant, which serves higher realization markets, will improve margins v Dual process plant in UAE to grow internationally • Cater to white cement demand in Middle East & North Africa(MENA) and infrastructure development projects in Qatar • Strictly Private & Confidential Unit in UAE provides logistical advantage to serve GCC and MENA countries and frees up current export quantity from India for domestic sale 7

Corporate Milestones 3. 0 8. 0 6. 0 4. 0 10. 5 Grey Cement Capacity Build-up 10. 0 2. 8 0. 8 FY '04 FY '05 0. 5 7. 5 2. 0 0. 0 FY '07 FY '09 FY '10 FY '15 E Dec 2012 Company’s long term credit rating upgraded from A+ to AA- by CARE Rating. Nov 2012 “Best Employer Award - 2011” from Employer’s Association of Rajasthan Foundation laying ceremony for setting up a split grinding unit at Jhajjar, Haryana Oct 2012 Foundation laying ceremony for brownfield expansion at Mangrol July 2012 “National Award for Excellence in Cost Management – 2011” from The Institute of Cost Accountants of India Nov 2011 Foundation laying ceremony at Fujairah to set up dual process plant Strictly Private & Confidential Sept 2009 Commissioned a 3 mtpa Greenfield plant in south at Muddapur, Karnataka 2007 § Enhanced grey cement capacity by 0. 50 mtpa, set up a 20 MW coal based power plant and 13. 2 MW of heat recovery based power plant at Nimbahera and enhanced white cement capacity by 0. 1 mtpa at Gotan, through IPO proceeds § Acquired a 0. 1 mtpa white cement unit at Gotan from Nihon Nirmaan and subsequently in 2009, converted the unit to produce 0. 47 mtpa grey cement March 2006 Successfully raised INR 2960 mn through the Follow on Public Offer (“FPO”) June 2005 The Company got listed on the Bombay Stock Exchange (“BSE”) Nov 2004 Acquired a cement division from its affiliate through slump sale, on a going concern basis, with a capacity to manufacture 3. 55 mtpa of grey cement and 0. 3 mtpa of white cement along with 15 MW of captive power plant May 1975 Entered cement business with 0. 3 mtpa plant at Nimbahera, becoming one of. Strictly the first Private few to & Confidential enter the cement business 8

Existing Plant locations and Market Reach Gotan - Nagaur (Rajasthan) § 0. 47 MTPA# : Grey Cement § 0. 40 MTPA* : White Cement § 0. 3 MTPA: Wall Putty § 7. 5 MW: Thermal Power Plant Strictly Private & Confidential Nimbahera – Chittorgarh (Rajasthan) § 3. 2 MTPA : Grey Cement § 20 MW: Thermal Power Plant § 13 MW: Waste Heat Recovery § 15 MW (Bamania): Thermal Plant Mangrol - Chittorgarh (Rajasthan) § 0. 75 MTPA - Grey Cement Plant Muddapur - Bagalkot (Karnataka) § 3 MTPA: Grey Cement § 50 MW: Thermal Power Plant Market Reach # The grey cement capacity is interchangeable with white cement * The white cement capacity is being expanded to 0. 60 MTPA 9 Strictly Private & Confidential Pan-India market reach in white cement & presence in 13 states for grey cement. 105. 5 MW of captive power and abundant limestone reserves

Strengths • Plants in Rajasthan & Karnataka gives wider market reach covering North, West & Southern regions Strictly Private & Confidential • JK’s white cement & wall putty are marketed and sold across the country • Superior product mix as one of only 2 producers of white cement in India. • White cement & wall putty segment contribute ~25% of top line, providing stability in cash flows and superior margins Multi. Region Presence Superior Product Mix Abundant Limestone Reserves Captive Power • JK Cement has access to large reserves of high-quality limestone, adjacent to the manufacturing facility, estimated to suffice for 30 years at current production capacity • Over 100 MW power generation through coal-based & waste heat recovery plants • Total power requirement met at lower cost through captive generation Strictly Private & Confidential 10

Established Brands Strictly Private & Confidential Grey Cement Ordinary Portland Cement (OPC) is sold under the J. K. Cement brand name, Sarvashaktiman Portland Pozzolana Cement (PPC) and Portland Slag Cement (PSC) variants are sold under the J. K. Super Cement brand name White Cement Value Added Products J. K. White Cement is marketed and distributed across the country White cement based Wall Putty and Water Proofing Compound Strictly Private & Confidential 11

Superior Product Mix on account of White Cement Industry in India § Installed Capacity: 1. 0 mtpa § Only 2 producers – Ultra. Tech Cement & JK Cement Growth Drivers JK White Cement White cement growing at 10% annually and expected to increase on account of: • Increase in per-capita consumption • Demand from wall putty, § Current market share: 40% § Pan-India reach with established brand § White cement contributes ~25% to revenue & ~30% to profitability § Sufficient to service interest liability & tax payout of the entire company registering 30% annual growth § Domestic Sales: 0. 9 mtpa • Increase in demand for Housing sector § Export Quantity: 0. 1 mtpa § Key Export Markets: South-Asia, Middle East & Africa Price Realization (INR/ton) – Grey vs White* § Entry of new players remote as: Strictly Private & Confidential ü Requirement of Special quality limestone ü High investment costs ü Problems in mine allocation * White cement price including wall putty White cement provides J. K. Cement with superior product mix and unique position to leverage Strictly Private & Confidential on high-growth, superior margin segment 12

Advantageous Revenue & Market Mix Increasing share of White Cement in Revenues 120% 100% White Cement (Inc Putty) 14% 18% 80% 19% Product Mix – Grey Cement (FY 12) Grey Cement 21% PSC; 2% 22% OPC; 39% 60% 40% 86% 82% 81% 79% 78% FY '08 FY '09 FY '10 FY '11 FY '12 PPC; 59% 20% 0% Rising share from West & South to improve Realization Strictly Private & Confidential North 100 90 80 70 60 50 40 30 20 10 0 South West Central 19. 7 17. 7 16. 6 19. 4 14. 2 17. 8 49. 4 FY 12 Market Mix evenly distributed (FY 12) Delhi 6% Punjab Others 6% 4% Rajasthan 19% MP 8% Haryana 18% Westen U. P 12% 45. 1 1 HFY 13 13 Karnataka 12% Maharashtra 15% Strictly Private & Confidential

Strategy §Poised to be among top 5 white cement producers globally §Increasing white cement and wall putty capacity to sustain present share of revenue from this business Consolidate position in white cement § Dual process plant in UAE to cater to growing markets of Middle East & Africa Strictly Private & Confidential § Infrastructure development demand in Qatar for soccer world cup New Domestic Markets International Opportunities STRATEGY Energy Efficiency § Captive power generation to provide long term sustained source of low cost power at fixed rate §All plants enjoy proximity to raw material & growth markets §Brown field expansion §Split grinding in Haryana for logistical advantage in National Capital Region Brand Visibility § A leading brand in North for Grey Cement. JK White and JK Wall Putty are marketed across the country § Use of waster heat recovery to reduce environmental impact § Enhance visibility further through print & Strictly Private & Confidential online media and consumer promotions 14

Expansion Plan Strictly Private & Confidential Domestic – Rajasthan & Haryana Fujairah, UAE Nature Brownfield Greenfield- In a subsidiary, held 90% by JK Cement along with Govt. of UAE (10%) Capacity 3. 0 mtpa, with 1. 5 mtpa grinding in Mangrol & 1. 5 mtpa split grinding at Jhajjar, Haryana Dual process cement plant capable of producing 0. 6 mtpa white cement or 0. 9 mtpa grey cement Commissioning § Haryana: June ’ 14 § Mangrol: Sep ’ 14 Mar ‘ 14 Features § Abundant land § Captive thermal plant of 25 MW and 9 MW WHR § Railway siding at both locations § Connectivity to road & port § Quality limestone reserves § Flexibility to switch between white & grey cement Capital Outley & Funding Mix Total project cost: Rs. 1734 Cr. Debt: Rs. 1200 Cr. Equity Contribution: Rs. 534 Cr. Total project cost: Rs. 765 Cr. Debt: Rs. 510 Cr. Equity Contribution: Rs. 255 Cr Tied-up Proposal moved to banks and in the process of tie-up. Company also has sufficient internal resources for equity financing Financial closure achieved for debt portion. Loan of Rs. 150 Cr. for promoter contribution and Rs. 95 Cr. of own resources remitted Project Status § § Target Market Haryana unit provides logistical advantage to serve the Cater to Middle East and North African white cement National Capital Region and helps consolidate JK’s demand infrastructure development projects in leadership position in the North. Qatar for soccer world cup Strictly Private & Confidential Entire land acquired at both locations Mining lease allotted for additional limestone mine Civil work has commenced Orders placed for equipments with renowned vendors 15 § Civil & mechanical work progressing on schedule. § 60% of the RCC work completed till date § Erection of equipment has commenced

Past consolidated financials Income Statement Highlights INR mn Operating Income FY '10 FY '11 FY '12 H 1 FY 13 INR mn FY '10 FY '11 FY '12 H 1 FY 13 699 699 Reserves & Surplus 12, 786 13, 250 1, 4522 15, 762 18, 268 20, 943 25, 468 14, 483 Other Income 193 299 469 287 Total Income 18, 461 21, 243 25, 936 14, 770 Networth 13, 486 13, 949 15, 221 16, 461 Total Operating Expenses 13, 891 18, 180 20, 329 11, 623 Long Term Loans 10, 138 10, 584 9, 965 9, 455 4, 570 3, 063 5, 608 3, 147 Total Borrowings 10, 737 11, 183 10, 808 10, 618 Interest 616 1, 185 1, 443 665 Deferred Tax Liability (net) 1, 858 2, 109 2, 291 2, 436 Depreciation 855 1, 128 1, 256 633 Other Liab & Provisions 3, 579 6, 746 7, 440 8, 402 - (72) 78 - 22, 822 23, 996 24, 071 23, 997 3, 098 823 2, 830 1, 850 48 42 92 1, 483 853 196 1, 085 620 Cash & Cash Equivalents 1, 318 3, 215 4, 332 3, 445 2, 246 626 1, 746 1, 230 Other Assets 5, 473 6, 734 7, 264 8, 993 EBIDTA (B’fore Excep. Items) Strictly Private & Confidential Balance Sheet Highlights Exceptional Item PBT Provisions PAT Note: H 1 FY 13 numbers are on standalone basis. Equity Share Capital Net Fixed Assets (Incl CWIP) Investments Strictly Private & Confidential 16

Latest Quarter Performance Particulars INR million Total Operating Income (Net) Q 3 FY 13 Q 3 FY 12 Change (%) Dec 31, Y-o-Y 2012 2011 9 M 9 M Dec 31, 2012 Dec 31, 2011 Change (%) Y-o-Y FY 12 Mar 31, 2012 6880. 8 7148. 7 - 3. 7% 6880. 8 6158. 9 11. 7% 21404. 1 17373. 8 23. 2% 25467. 8 1348. 8 1316. 8 2. 4% 1348. 8 1204. 0 12. 0% 4249. 6 3138. 8 35. 4% 5166. 3 PBT 775. 6 830. 1 - 6. 6% 775. 6 645. 7 20. 1% 2625. 2 1437. 1 82. 7% 2857. 8 PAT 543. 8 540. 9 0. 5% 543. 8 435. 2 25. 0% 1773. 5 969. 8 82. 9% 1773. 3 7. 78 7. 74 7. 78 6. 22 25. 36 13. 87 25. 36 Raw Material Cost % 15. 3% 13. 1% 15. 3% 12. 1% 13. 6% 12. 4% 12. 2% Power & Fuel Cost % 24. 8% 24. 4% 24. 8% 25. 3% 25. 1% 26. 5% 25. 7% Freight Costs % 20. 5% 20. 4% 20. 5% 19. 3% 20. 0% 19. 5% 19. 1% Others % 19. 8% 23. 7% 19. 8% 23. 8% 21. 5% 23. 6% 22. 8% EBITDA % 19. 6% 18. 4% 19. 6% 19. 5% 19. 8% 18. 0% 20. 2% 7. 9% 7. 5% 7. 9% 7. 0% 8. 2% 5. 5% 6. 9% EBITDA EPS – Basic & Diluted Strictly Private & Confidential Q 3 FY 13 Q 2 FY 13 Change (%) Dec 31, Sept 30, Q-o-Q 2012 PAT % v During 9 MFY 12, Company’s revenue grew by 23. 2% as compare to the corresponding period 9 MFY 11. v During 9 MFY 12, Company’s EBIDTA margin improved by 1. 8% primarily on account of reduction in power & Strictly Private & Confidential fuel cost and other expenses. 17

Management Board Of Directors Experience Gaur Hari Singhania Chairman Raghavpat Singhania Special Executive 5 years Yadupati Singhania Managing Director and CEO Madhavkrishna Singhania Special Executive 2 years K. B. Agarwal Independent Director A K Saraogi President (Corp. Affairs) & CFO 25 years M. P. Rawal President (Tech. & Mgmt Service) 37 years D Ravisankar President (Projects) 35 years R. C. Shukla President (Mktng, Grey Cement) 28 years Mohan Sharma Head (Mktng, White Cement) 24 years Kaustubh Dadhich Head (Mktng, South-West) 25 years B. K. Arora President (J. K. White Cement Works) 34 years J. P. Bajpai Strictly Private & Confidential Key Management Independent Director Suparas Bhandari Independent Director J. N. Godbole Independent Director Achintya Karati Independent Director K. N. Khandelwal Independent Director Raj Kumar Lohia Independent Director K. K. Jalori Plant Head, Nimbahera 32 years Ashok Sharma Independent Director A. K. Jain Plant Head, Muddapur 26 years Strictly Private & Confidential 18

Awards & Recognition 9 th National Award for Excellence in Cost Management, 2011 (The Institute of Cost Accountants of India) Strictly Private & Confidential Commemorative Stamp in honor of the Founding Father Best Employer Award, 2011 Employers’ Association of Rajasthan Productivity Excellence Award 2009 -10 (Rajasthan State Productivity Council) Over All Performance Award by Indian Bureau of Mines Strictly Private & Confidential 19

Strictly Private & Confidential Thank You Strictly Private & Confidential 20