Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year ended September 30, 2026 (Q2 FY27, H1 FY27)

Nature of Filing / Announcement: Outcome of Board Meeting and Submission of Unaudited Financial Results

Audit Opinion:

Limited Review Report - No modifications. The auditors concluded that nothing has come to their attention that causes them to believe the Statement contains any material misstatement.

Auditor’s Comment:

The auditors drew attention to Note 4 regarding the change in the Company's accounting policy for valuation of inventories from the Weighted Average Cost method to the First-In, First-Out (FIFO) method with effect from April 1, 2026. The management concluded that retrospective application is impracticable due to the nature of the Company's complex and continuous manufacturing process. The change was applied prospectively.

Key Financial Highlights [All amounts in ₹ million]

Standalone Results:

Quarter Ended September 30, 2026 (Q2 FY27):

  • Revenue from Operations: ₹923.80 (Q2 FY26: ₹983.99; -6.1% YoY)
  • Total Income: ₹970.15 (Q2 FY26: ₹1,023.56)
  • Net Profit: ₹89.03 (Q2 FY26: ₹41.11; +116.5% YoY)
  • EPS: ₹1.70 (Basic and Diluted) (Q2 FY26: ₹0.82)

Half Year Ended September 30, 2026 (H1 FY27):

  • Revenue from Operations: ₹1,753.66 (H1 FY26: ₹1,747.95; +0.3% YoY)
  • Total Income: ₹1,841.58 (H1 FY26: ₹1,813.34)
  • Net Profit: ₹161.55 (H1 FY26: ₹106.39; +51.8% YoY)
  • EPS: ₹3.09 (Basic and Diluted) (H1 FY26: ₹2.22)

Key Standalone Balance Sheet Items as of September 30, 2026:

  • Property, Plant and Equipment: ₹363.42
  • Inventories: ₹2,128.92
  • Investments: ₹3,259.19
  • Cash and Cash Equivalents: ₹94.38
  • Total Assets: ₹6,620.33
  • Borrowings (Current): ₹1,303.99
  • Borrowings (Non-Current): ₹175.16
  • Total Equity: ₹4,919.19

Consolidated Results:

Quarter Ended September 30, 2026 (Q2 FY27):

  • Revenue from Operations: ₹1,039.99 (Q2 FY26: ₹895.25; +16.2% YoY)
  • Total Income: ₹1,041.32 (Q2 FY26: ₹905.07)
  • Net Loss: ₹(70.15) (Q2 FY26: Net Loss ₹(25.79))
  • EPS: ₹(1.29) (Basic and Diluted) (Q2 FY26: ₹(0.04))

Half Year Ended September 30, 2026 (H1 FY27):

  • Revenue from Operations: ₹2,028.49 (H1 FY26: ₹1,771.58; +14.5% YoY)
  • Total Income: ₹2,031.43 (H1 FY26: ₹1,794.10)
  • Net Loss: ₹(148.89) (H1 FY26: Net Profit ₹54.05)
  • EPS: ₹(2.85) (Basic and Diluted) (H1 FY26: ₹1.66)

Key Consolidated Balance Sheet Items as of September 30, 2026:

  • Property, Plant and Equipment: ₹2,445.24
  • Inventories: ₹3,216.97
  • Cash and Cash Equivalents: ₹126.79
  • Total Assets: ₹7,356.85
  • Borrowings (Current): ₹2,190.03
  • Borrowings (Non-Current): ₹396.84
  • Total Equity: ₹4,348.51

Segment-wise Performance:

The Company's business activity falls within a single segment i.e. manufacturing and sale of specialty ingredients, including essential oils, aroma chemicals and value-added derivatives. Accordingly, there is a single operating segment as per Ind AS 108.

Corporate Actions:

Loan Conversion into Equity:

The Board of Directors, vide its resolution dated September 22, 2026, approved an investment of up to ₹2,500 million in Krystal Ingredients Private Limited (Subsidiary) by way of conversion of the outstanding loan, including interest accrued thereon, into equity shares of Krystal.

Accordingly, the outstanding loan, including accrued interest, aggregating to ₹2,252.10 million as at September 24, 2026, was converted into 47,204 equity shares of Krystal at an issue price of ₹47,710 per equity share.

Other Significant Information:

Entities included in consolidation:

The Consolidated Financial Results comprise results of Gem Aromatics Limited and its subsidiaries: 1) Krystal Ingredients Private Limited, 2) Gem Aromatics LLC.