Key Decisions and Financial Results

The Board of Directors meeting held on August 1, 2026 (12:30 PM to 14:30 PM) approved the following:

1. Unaudited Financial Results: Approved standalone and consolidated financial results for quarter ended June 30, 2026.

2. Investment in Shared Services Company: Approved participation in incorporation of Group Shared Services Company (SSC) and investment of up to ₹1,00,00,000 (Rupees One Crore only) for up to 20% equity share capital. The SSC will provide common corporate support services to participating Group entities through centralized shared services model. Upon incorporation, SSC is expected to qualify as an Associate Company. The Board authorized the Finance Committee to take all necessary actions to implement this proposal.

3. Subsidiary Rationalization: Took note of approval by Apollo Metalex Limited (AML), a material subsidiary, for rationalization of manufacturing operations through phased consolidation of production activities from its A-25 manufacturing unit at Sikandrabad, Uttar Pradesh to other Group manufacturing facilities, with consequential disposal of land and building of A-25 Unit. This decision is part of Group's strategic restructuring and capital allocation initiatives aimed at optimizing manufacturing footprint, improving capacity utilization, reducing operating and maintenance costs, enhancing supply chain efficiencies, and redeploying capital towards core manufacturing business and future growth initiatives. The consolidation will be implemented in phased manner and is not expected to adversely impact Group's overall manufacturing capacity, operations, customer commitments or production volumes.

Financial Results Details

Consolidated Results (Quarter ended June 30, 2026):

  • Revenue from operations: ₹5,169.77 crore
  • Sale of products: ₹5,002.81 crore
  • Other operating income: ₹166.96 crore
  • Other Income: ₹25.57 crore
  • Total Income: ₹5,195.34 crore
  • Profit before tax: ₹309.95 crore
  • Tax expense: ₹72.78 crore
  • Current tax: ₹67.22 crore
  • Deferred tax: ₹5.56 crore
  • Profit for the period: ₹237.17 crore
  • Other Comprehensive Income: ₹18.78 crore
  • Total Comprehensive Income: ₹255.95 crore
  • Paid up Equity Share Capital: ₹55.51 crore (Face value ₹2 each)
  • Basic EPS: ₹8.55
  • Diluted EPS: ₹8.54

Standalone Results (Quarter ended June 30, 2026):

  • Revenue from operations: ₹3,801.88 crore
  • Sale of products: ₹3,698.37 crore
  • Other operating income: ₹103.51 crore
  • Other Income: ₹49.50 crore
  • Total Income: ₹3,851.38 crore
  • Profit before tax: ₹198.74 crore
  • Tax expense: ₹51.76 crore
  • Current tax: ₹42.70 crore
  • Deferred tax: ₹9.06 crore
  • Profit for the period: ₹146.98 crore
  • Other Comprehensive Income: ₹0.36 crore
  • Total Comprehensive Income: ₹147.34 crore
  • Paid up Equity Share Capital: ₹55.54 crore (Face value ₹2 each)
  • Basic EPS: ₹5.29
  • Diluted EPS: ₹5.29

Subsidiary Transaction

During the quarter ended June 30, 2026, the Holding Company entered into a share purchase agreement for sale of its entire shareholding in Blue Ocean Projects Private Limited (BOPL) for total consideration of ₹160.00 crores against carrying amount of investment of ₹150.30 crores. The conditions for completion were not fully satisfied and consideration was received subsequent to June 30, 2026. Accordingly, assets and liabilities of BOPL have been classified as held for sale as at June 30, 2026, in accordance with Ind AS 105. No gain on sale has been recognized in these financial results.

Auditor Review

The unaudited financial results have been reviewed by Walker Chandiok & Co LLP, Chartered Accountants (FRN: 001076N/N500013), who issued an unmodified review conclusion. The review report notes that interim financial results of one subsidiary (reflecting total revenues of ₹289.01 crores, net profit after tax of ₹7.62 crores) were reviewed by other auditor, and the Group's share of net profit from one associate was based on unreviewed interim financial results.