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PLETHICO PHARMACEUTICALS LIMITED

www.plethico.com March 2010

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Disclaimer

This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or

sale of any security of Plethico Pharmaceuticals Limited (the “Company”) and no part of it shall form the basis of or be relied upon in

connection with any contract or commitment whatsoever.

This presentation is not a complete description of the Company. Certain statements in the presentation contain words or phrases that are

forward looking statements. All forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results

to differ materially from those contemplated by the relevant forward looking statement. Any opinion, estimate or projection herein constitutes a

judgment as of the date of this presentation, and there can be no assurance that future results or events will be consistent with any such

opinion, estimate or projection. The information in this presentation is subject to change without notice, its accuracy is not guaranteed, it may

be incomplete or condensed and it may not contain all material information concerning the Company. We do not have any obligation to, and do

not intend to, update or otherwise revise any statements reflecting circumstances arising after the date of this presentation or to reflect the

occurrence of underlying events, even if the underlying assumptions do not come to fruition.

All information contained in this presentation has been prepared solely by the Company. No information contained herein has been

independently verified by anyone else. No representation or warranty (express or implied) of any nature is made nor is any responsibility or

liability of any kind accepted with respect to the truthfulness, completeness or accuracy of any information, projection, representation or

warranty (expressed or implied) or omissions in this presentation. Neither the Company nor anyone else accepts any liability whatsoever for

any loss, howsoever, arising from any use or reliance on this presentation or its contents or otherwise arising in connection therewith. This

presentation may not be used, reproduced, copied, distributed, shared, or disseminated in any other manner.

The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes

should inform themselves about, and observe, any such restrictions.

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Business Overview

Plethico Pharmaceuticals Overview

Experienced Management Team

Key Financials

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Investment Highlights

•Consistently expanding market presence with a

focus on strong financials and healthy margins

•Brand/ semi FMCG play forms a key differentiator

•Global Presence - major markets include advanced

markets such as the US and UK

•Widespread & multiple channel Sales and

Distribution capabilities

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To create a ‘Global Healthcare’ brand identity the “green way” through eternal values, strong

ethics and global quality of the highest standards in herbal and nutraceutical healthcare

products

To be amongst the top 10 international herbal / nutraceuticals player by creating a 'global

Plethico healthcare brand’, drawing upon the rich heritage of the Indian system of herbal

medicine

Mission

Vision

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Plethico Global Holdings B.V.

Netherlands Plethico International Limited, UAE

Plethico US Holdings Kft,

Hungary

Natrol Global Fz LLC, UAE Natrol Inc., USA

100% 100%

100%

25%

100%

75%

• One of the Leading players in Herbal / Nutraceutical formulations globally in reach and financial strength

• Products sold in more than 60 countries including US, UK, Australia, Korea, India and HK

• Owners of internationally selling brands such as Travisil, Mountain Herbz, Coach’s Formula, Natrol, Prolab and MRI

• Distribution focus in US, CIS and deepening reach in South East Asia & French West Africa

Group Overview

Group Structure

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Business Overview

Plethico Pharmaceuticals Overview

Experienced Management Team

Key Financials

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• The company seeks to exploit synergies from its acquisition of Natrol through a two pronged strategy

• Expand the Natrol sales into CIS, SEA and MENA markets

• Use Natrol’s distribution reach to market Plethico’s products in the US

• The Company is targeting a lean SKU count for the Natrol business by increased focus on the brands business over

coming years

• The Company is looking at scaling up the Indian business while increasing profitability in operations from their

current levels

• The Company is focused on ensuring a higher capacity utilisation of the MHRA compliant Kalaria plant for Allopathics

• Increasing efficiencies of all manufacturing units

• The Company is looking to reduce its debt burden from its current levels

• Receivables management and reduction of receivables period from CIS and Third Front markets

Business Strategy

Strengthen Balance Sheet

Manufacturing

Indian Business Expansion

Leaner Strategy

Generating Synergies

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Inorganic Growth

• 2004-2006 – Acquired stakes in six marketing and distribution companies of Rezlov to gain a strong

foothold in CIS markets

• November 2007 – Acquired Natrol which markets its products across US

• Natrol was founded in 1980 and headquartered in Chatsworth, CA

• Manufactures and markets under its own premium brand Natrol wellness products consisting of

vitamins and specialty supplements and also through acquired brands: MRI and Prolab (Sports

nutrition), Nu Hair / Shen Min (hair regrowth), Lacie Le Beau (slimming tea), Promensil, Biosil

(Nail and skin care)

• Products are mainly sold to US, and there is growing presence in the markets of Australia, UK

and other advanced markets

• More than 54,000 points of distribution, sells to pharmacies, gyms, health food stores, grocery

stores, large retailers and online retailers

• December 2008 – Acquired 20% stake in Tricon Holdings FZE, UAE for distribution and marketing of

Company’s brands through Tricon’s retail pharmacy outlets in CIS

• Tricon is trading and distribution company operating in UAE with a strategic stake in Sputnik

Regionale Aptheka Holding

• January 2009 – Tied up with Molekule India Private Ltd. for distribution and marketing of Natrol

brands in India

• Molekule is a pharmaceutical company having wide marketing and distribution network across

the country

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Portfolio of Strong Brands

Food Supplement RangeCough & Cold Range

Effervescent Range-NDDS

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Product Range - Plethico

14%

Allopathic Products

Effertabs: A range of effervescent products in pain, fever, cold, etc

Relievo: A range of pain relief products

Other Ranges: Anti-Infectives, Antiretrovirals, Anti-TB Products, Anti-Malarialsrange, Gastrointestinal range, Cardiovascular segment

Product Range% of 2008

Consolidated Revenue

Herbal / Nutraceutical

Travisil: Range of herbal products in the cough and sore throat category, consisting of cough drops, syrups and lozenges

Coach’s Formula: Sports nutrition brand with products including bodybuilding andfat loss

Confectionary: Actifresh – mouth freshener consumer product Mountain Herbz: Range of herbal medicines and supplements for lifestyle-related disorders including blood pressure, pain relief, aphrodisiacs, blood sugar regulation, digestion, memory etc…

41%

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Product Range - Natrol

Product Range% of 2009

Consolidated Revenue

Natrol: Nutraceutical brand in specialty supplements, with over 70 product categories 19%

MRI: Leading premium sports nutrition brand, uses science and research to create state of the art products, acquired by Natrol in June 2007

9%

Prolab: Industry leading sports nutrition brand for over 19 years, global brand sold in over 35 countries with over 50% of sales generated overseas

3%

Other SBU including International & other Brands

Laci Le Beau: Herbal tea for weight loss, #1 selling weight loss tea in the drug trade

channel, acquired by Natrol in 1998

Nu-Hair / Shen Min: #1 natural alternative for hair loss and hair thinning, brands

acquired by Natrol in 2006

Promensil: Dietary supplement for menopause, Natrol acquired US manufacturing /

marketing rights in 2006

14%

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Marketing Presence in Over 60 Countries

US & Regulated markets: Natrol

India: Plethico(1)

Africa / Third Front: Plethico

CIS: Plethico

Share of 2008 Revenue by Geography

� Main products offered:

● Natrol

● MRI

● Prolab

● Shen Min / Nu-hair

● Lacie Le Beau

� Main products offered:

● Travisil

● Mountain Herbz, Natrol Prod

● Allopathic

● Confectionary

● Prolab, MRI

� Main products offered:

● Travisil

● Coach's Formula, Prolab, MRI

● Confectionary

� Catered to by Plethico

� Main products offered:

● Travisil

● Coach's Formula, Prolab, MRI

● Mountain Herbz, Natrol Prod

● Allopathic

� Sells into 12 Latin American Countries, 16 African countries, 6 Middle Eastern countries and 5 SE Asian countries

9%

8%

Third Front

CIS

India

Africa

21%

India revenue Includes revenue from contract manufacturing business and above revenue constitute 93% of Consolidated Revenue & Balance 7% constitute Revenue from PIL RM Trading.

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Distribution Channels (NATROL in USA)

DRUG STORES

CLUBS /MMs

HEALTH FOOD & SPECIALITY

E-COMMERCE

GYMS

GROCERY

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• Kalaria, Indore – Set up in 1999 with 3 blocks – Herbal, Allopathic & Nutraceuticals

• Manufactures allopathic and herbal products

• Adheres to US FDA and UK MHRA standards however, yet to be certified

Manufacturing & Operations

Plethico employs over 600 people in India, and Natrol has over 200 employees

• Manglia, Indore - Set up in 1987 with 2 blocks Beta Lactum & General

• Manufactures allopathic and herbal products

• CGMP Compliant manufacturing unit

• Chatsworth – California

• A Natrol manufacturing facility in the US

• Manufactures vitamin products that are sold under the Natrol brand

• Complies with US CGMP guidelines and is a certified organic facility

• The company has set up a manufacturing unit in the UAE. It is expected that this plant will benefit

from proximity to markets and a favourable tax regime

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Business Overview

Plethico Pharmaceuticals Overview

Experienced Management Team

Key Financials

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Financial Snapshot - Annual

32%18% 19%

29%

23% 22%

16%

18% 17%

23%41% 42%

06-07* 08 09

India CIS Africa Third Front

Revenue Growth EBITDA & PAT Trends

Geographic Distribution – Plethico products Sales of Natrol Brands in 2009

5,512

9,876

12,485

Dec‘07 Dec ‘08 Dec ‘09

31.33% CAGR 1,589

2,134 2,426

1,583

1,233

2,169

EBITDA PAT

Dec’07 Dec ‘08 Dec ‘09

Natrol43%

MRI20%

Prolab6%

International & Others31%

•06-07 numbers annualised from their 15 month actuals

•All data in INR Mn

Others consist of Laci Le Beau, Nu Hair/Shen Min, Biosil, Promensil, and EPI

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Financial Snapshot - Quarterly

2,520 2,400 2,430

2,940

3,330

3,773

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

Q3 CY08 Q4 CY08 Q1 CY09 Q2 CY09 Q3 CY09 Q4 CY09

540 520

430 400

680

931

440

570

310 320

580

914

Q3 CY08 Q4 CY08 Q1 CY09 Q2 CY09 Q3 CY09 Q4 CY09

EBITDA PAT*

Revenue Growth EBITDA and PAT

Balance Sheet

2006 2007 2008

Net Fixed Assets 1,170 1,130 6,160

Net Working Capital 2,870 4,580 5,730

Investments 1,380 4,090 1,990

Net Worth 4,470 5,980 7,070

Loans 950 3,820 6,820

•All data in INR Mn

1919

Region-Wise YTD Sales Breakup-Consol-2009

•All data in INR Mn

943 6161933

559 57 5490 0 0

4656

370419

621

8390 0

2249

3746 1781

5527

CIS

Afric

a

3rd

Fro

nt

Ind

ia-C

PD

Ind

ia-C

M/T

M

Ind

ia-R

eta

ilC

ha

in

PIL

-RM

trad

ing

Na

trol-U

S

Na

trol-

Inte

rna

tion

al

To

tal

India Sales PIL Sales Natrol Sales

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Business Overview

Plethico Pharmaceuticals Overview

Experienced Management Team

Key Financials

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Experienced Management Team

• Mr. Shashikant Patel (Chairman and Managing Director)• Associated with the business for the last 46 years and has been the driving force behind the company’s

growth• Mr. Chirag Patel (Whole Time Director and CEO)

• 14 years of experience in the global pharmaceutical industry• Strong advocate of brand building and has been responsible for the Company’s foray into consumer

healthcare business and its international operations, including the CIS and Africa• Lead the development of the Company’s Oracle-Peoplesoft- J. D. Edwards ERP software and its Field

Force Management System software• Mrs. Gauravi Parikh (Executive Director)

• Holds bachelor’s degree in Pharmacy and a masters of science from the University of Ohio. • Joined the Company in 2000 and is responsible for regulatory affairs, marketing and new product

development and human resource management• Steered key projects in the organization such as UK-MHRA approvals and her expertise is also sought on

mergers and acquisitions, marketing and in-licensing activities• Dr. G.N. Qazi

• Holds masters of science (Biochemistry) degree and a Ph.D. (Microbiology) from M.S. University Baroda and has more than 37 years of research experience in the areas of Biochemistry and Microbial Biotechnology. He is currently Director of the Regional Research Laboratory in Jammu Tawi

• Has expertise in the fermentation process and other biological processes, bio-reactor design, pressure fermentation and has conducted many research projects for different companies

• Mr. Pramod K. Shrivastava• Holds postgraduate degree in economics and is a Chartered Accountant• Has expertise in trade, finance, forex, investments and various banking operations. He also has good

exposure to the setting up of a wholly-owned subsidiaries or joint ventures of an Indian company abroad• Mr. Abhay Suhane

• Holds masters of business administration from Devi Ahilya Vishwa Vidyalaya, Indore and has expertise in the fields of finance, marketing, derivatives, commodity and capital markets in India

• He is an analyst and researcher and is presently undertaking research on “Consumer Preference towards soft drinks” and “Banking in new millennium in India”

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• Mr. Rajiv Bedi – (President Plethico Pharmaceuticals)

• 14 years of experience in the Company

• Mr. Hemant Modi (COO)

• 19 years of experience in the company

• Mr. Sanjay Pai (Chief Financial Officer)

• 16 years of experience in the company

• Mr Harun Simbirdi (President- Natrol)

• 20 years of experience in the industry

• Mr. Pat Mc McCullough (COO – Natrol)

• Over 20 years of experience in the industry

• Mr. Kumar (CFO- Natrol)

• Over 15 years of overall experience in Finance & IT

Key Management Personnel

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Key Triggers Expected

Uptrend in the US economy

Launch of Travisil, Actifresh in the US

UK MHRA Approvals

UAE Plant achieving commercial production

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Thank you.