Date: May 22, 2026

Board Meeting Outcomes

The Board of Directors at its meeting held on May 22, 2026 approved:

  • Audited Financial Results along with Auditors Report for the fourth quarter and financial year ended March 31, 2026
  • The results have been prepared in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Financial Results (Standalone)

Quarterly Performance (Q4 FY2026):

  • Revenue from operations: ₹874.33 million
  • Other income: ₹145.45 million
  • Total income: ₹1,019.78 million
  • Total expenses: ₹686.93 million
  • Profit before tax: ₹332.85 million
  • Tax expense: ₹104.01 million (Current tax: ₹34.93 million, Deferred tax: ₹69.08 million)
  • Profit after tax: ₹228.84 million
  • Other comprehensive income: ₹4.75 million
  • Total comprehensive income: ₹233.59 million
  • Earnings per equity share (basic and diluted): ₹1.62

Annual Performance (FY2026):

  • Revenue from operations: ₹3,415.82 million
  • Other income: ₹500.49 million
  • Total income: ₹3,916.31 million
  • Total expenses: ₹2,563.37 million
  • Profit before tax: ₹1,352.94 million
  • Tax expense: ₹308.94 million (Current tax: ₹234.24 million, Deferred tax: ₹74.70 million)
  • Profit after tax: ₹1,044.00 million
  • Other comprehensive income: -₹1.89 million
  • Total comprehensive income: ₹1,042.11 million
  • Earnings per equity share (basic and diluted): ₹7.54
  • Paid-up Equity Share Capital: ₹281.87 million (face value of ₹2 each, fully paid up)
  • Other Equity: ₹9,489.54 million

Balance Sheet Highlights (as at March 31, 2026):

  • Total assets: ₹12,989.50 million (vs. ₹8,459.66 million as at March 31, 2025)
  • Non-current assets: ₹9,999.95 million (including Property, plant and equipment: ₹4,490.45 million, Capital work-in-progress: ₹779.04 million, Investments: ₹3,142.55 million)
  • Current assets: ₹2,989.55 million
  • Total equity: ₹9,771.41 million
  • Non-current liabilities: ₹1,350.87 million
  • Current liabilities: ₹1,867.22 million

Cash Flow Statement (FY2026):

  • Net cash generated from operating activities: ₹1,325.46 million
  • Net cash used in investing activities: -₹4,363.82 million
  • Net cash generated from financing activities: ₹3,048.80 million
  • Net increase in cash and cash equivalents: ₹10.44 million
  • Cash and cash equivalents at end of year: ₹12.25 million

Segment Performance (FY2026):

  • Gases, related products & services revenue: ₹3,340.42 million
  • Project Engineering revenue: ₹75.40 million
  • Total segment revenue: ₹3,415.82 million
  • Segment results: Gases ₹1,283.89 million, Project Engineering -₹15.08 million
  • Total segment results: ₹1,268.81 million

Other Operational / Strategic Disclosures

IPO Utilization:

  • The Company concluded its Initial Public Offer ('IPO') of 21,313,130 equity shares at an issue price of ₹400 per share, aggregating to ₹8,525.25 million
  • Fresh issue of 10,000,000 equity shares and offer for sale of 11,313,130 equity shares
  • Equity shares allotted on June 27, 2025 and listed on NSE and BSE on July 1, 2025
  • Utilization of IPO proceeds (net of issue expenses of ₹268.64 million):
  • Repayment of borrowings: ₹2,100.00 million (fully utilized)
  • Setting up air separation unit at Uluberia-II plant: ₹567.45 million utilized of ₹1,045.00 million proposed
  • General corporate purposes: ₹383.50 million utilized of ₹559.51 million proposed
  • Total utilized: ₹3,050.95 million, Unutilized: ₹680.41 million

Acquisition:

  • Acquired manufacturing facilities of M/s Truair Industrial Gases on slump sale basis for ₹54.09 million, effective September 7, 2025
  • Accounted for under Ind AS 103 - Business Combinations
  • Purchase Price Allocation concluded during the year with adjustment in Capital Reserve (not material)

Labour Code Implementation:

  • Government implemented four Labour Codes effective November 21, 2025
  • Ministry of Labour & Employment notified final Central Rules on May 8, 2026
  • Company assessed impact and concluded it is not material to these financial results
  • Continuing to monitor notification of State Rules

Notes to Financial Results

  • The Company does not have any Subsidiary/Associate/Joint Venture
  • Previous period figures have been regrouped/reclassified wherever necessary