Interim report
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Registered Office : SAGAR CEMENTS LIMITED SCL: SEC: NSE: BSE: 2026-27 The National Stock Exchange of India Ltd., "Exchange Plaza", 5th Floor Bandra - Kurla Complex Bandra (East) Mumbai-400 051 Symbol Series ISIN Dear Sirs SAGCEM EQ INE 229C01021 The Secretary BSE Limited P J Towers Dalal Street Mumbai -400 001 Scrip Code:502090 30th October, 2026 Sub: Regulation 33 of SEBI (LODR) Regulations 2015 - Furnishing of Un-audited Standalone and Consolidated Financial Results for the second quarter and half year ended 30th September, 2026 Further to our letter dated 17th October, 2026, we are pleased to forward our un-audited stand-alone and consolidated financial results for the second quarter and half year ended 30th September, 2026, which were taken on record and approved by our Board at their meeting held on today, after review by the Audit Committee. Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we enclose the following : a) Statements showing the un-audited Financial Results (Standalone and Consolidated) for the quarter/ half year ended 30th September, 2026; b) Limited Review Report on the Financial Results - Standalone and Consolidated; c) Statement of Deviations - Not Applicable d) Format for disclosing outstanding default on loans and debt securities - Not Applicable . The above said meeting of the Board of Directors commenced at 4:00 p.m. and concluded at 4:30 p.m. We would request you to kindly take the above information/ documents on record. Thanking you Yours faithfully For Sagar Cements Limited J.Raja Reddy Company Secretary M.No. A31113 Encl: as above Plot No: 111, Road No. I O,Jubilee Hills, Hyderabad - 500033, Telangana State , India. Phone : +91 40 23351571, 23351572 E-mail : mfo@sagarcements .in Website : www.sagarcements.in CIN : L26942TG 1981 PLC002887 GSTIN : 36AACCS8680H2ZY Factories : CERTIFIED ISO 9001 : 2015 ISO 14001 : 2015 ISO 4 5001:2018 ISO 50001:2018 I) Mattampally Village & Mandal, Suryapet District, Telangana State - 508204. Phone : 08683 247039 GSTIN : 36AACCS8680H I zz 2) Bayyavaram Village, Kasimkota Manda!, Anakapally District, Andhra Pradesh State - 531031. Phone: 08924 244550 GSTIN : 37AACCS8680H IZX 3) Gudipadu Village, Yadiki Mandal, Ananthapur District , Andhra Pradesh State - 515408. Phone : 08558 200272 GSTIN : 37 AACCS8680H I ZX 4) Kalinganagar, Industrial Comple x,Tahsil-Dangadi, Dist - Jajpur, Odisha State . Phone : 08340 882288 GSTIN : 21 AACCS8680H I ZA Gt? 0 UKAS MAIIAGEME tff SYSTEMS 0008
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SI. No. 1 2 3 4 5 6 7 8 9 10 SAGAR CEMENTS LIMITED CIN No: L26942TGl981PLC002887 Plot No. 111, Road No. JO, Jubilee Hills, Hyderabnd - 500 033, Phone: +914023351571 Fnx: +9 1 4023356573 Email: invcs tors@s:1garccmcnts. in1 \Vcbsitc:www .sagarcemcnts .in STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR T HE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2026 (f in lakhs except per share data and unless otherwise stated) Quarter ended Six mont hs ended Year ended Particulars September JO, June 30, September JO, Septembe r JO, September 30, March 31, 2026 2026 2025 2026 2025 2026 (Una udited) (Unaudited) (Una udited) (Una udited) (Unnudited) (Audited) Income (a) Rev enue from operations 44.432 47,181 39,951 91 ,613 83,526 176,830 (b) Other income 888 859 739 1,747 1,464 6,499 Total income 45,320 48,040 40,690 93,360 84,990 183,329 Exnenscs (a) Cost of materials consurrled 10,165 12,480 7.096 22,645 17,547 41,365 (b) Purchase of stock-in-trade 180 244 574 (c) Changes in inventories of finished goods and work-in-prog ress 3,302 (1,689) 4,549 1,613 1,233 716 (d) Employee benefits expense 2,838 2,691 2,953 5,529 5,515 11,214 (e) Finance costs 2,078 1,787 1,979 3,865 3,996 7,664 (0 Depreciation and amortisation expenses 2,871 2,814 2,874 5,685 5,702 11,551 (g) Power and fuel expense I l ,6IO 15,03 I 9,460 26.641 23,70 1 52,966 (h) Frei~d1t and forwarding expense 9,203 8,882 7,455 18,085 15,571 33,814 (i) Other expenses 6,038 6,407 5,422 12,445 10,867 23,143 To tal expenses 48,105 48,403 41,968 96,508 84,376 183,007 (Loss)/ pro fi t before lax (I -2) (2,785) (363) (1,278) (3,148) 614 322 Tax expense (a) Current tax (216) 114 (940) (b) Deferred tax (Refer-note 6) (727) (74) (240) (80 1) 178 (2,095) ·Tota l tax exnense • (727) (74) (456) (801) 292 (3,035) Ncl (loss)/ profit for the period/ vear (3 - 4) (2,058) (289) (822) (2,347) 322 3,357 Ot her comprehensive income (i) Items that will not be reclassified to profit or loss - Remeasurement of defined benefits plan (5) (5) 27 (10) 55 (19) • Income tax effect on above 2 2 (9) 4 (19) 7 Total other comprehens ive income. net oftnx (3) (3) 18 (6) 36 ( 12) Totnl comprehensive income (5+6) (2,061) (292) (804) (2,353) 358 3.345 Paid up equity share capital (Face value of f 2 per share) 2,614 Other equity 161,867 Earnings per share oft 2 each (a) Basic (in t) (1.57) (0.22) (0.63) (1.79) 0.25 2.57 (b) Diluted (in t) (1.57) (0.22) (0.63) (1.79) 0.25 2.57 (') (') (') (') (') ("') - Not annunhsed
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Standalone Statement of Assets and Liabilities ASSETS Non-c urrent assets (a) Property, plant and equ ipment (b) Capital work-in-progress (c) Right-of-use assets (d) Goodw ill (e) Intangible assets (i) Mining rights (ii) Other Intangible assets (f) Financial assets (i) Investments (ii) Loans (iii) Other financial assets (g) Othe r tax assets (net) (h) Other non-current assets Total Non-current assets (1) Curren t assets (a) Inventories (b) Financial assets (i) Trade receivables (ii) Cash and cash equivalents Particulars (iii) Bank balances other than (ii) above (iv) Loans (v) Other financial assets (c) Other tax assets (net) (d) Other current assets Total Current assets (2) TOTAL ASSETS (1+2) EQUITY AND LIABILITIES Equity (a) Equity share capita l (b) Other equity Total Equity (1) Liabilit ies Non-current liabilities (a) Financia l liabilities (i) Borrowings (ii) Lease liabilities (iii) Othe r financial liabilities (b) Provisions (c) Deferred tax liabilities (net) Total Non-current liabilities (2) Current liabilities (a) Financial liabilities (i) Borrow ings (ii) Lease liabilities (iii) Trade payables (a) total outstanding dues of micro enterprises and small enterprises; and (b) total outstandi ng dues of creditors other than micro enterprises and small enterprises. (iv) Other financial liabilities (b) Other current liabilities (c) Provis ions Total Current liabilities (3) TOTAL EQUITY AND LlABILITIES (1+2+3) As al September 30, 2026 (Unaudited\ 136,001 3,114 2,982 3,938 1,430 23 43,969 32,027 3,004 1,475 794 228,757 14,543 20,590 136 190 61 3,422 692 4, 125 43,759 272,516 2,6 14 159,514 162,128 23,967 1,448 10,691 2,183 2,653 40,942 25,990 567 4,176 6,092 21,233 10,703 685 69,446 272,516 (f in lakhs) As at March 31, 2026 (Audited\ 132,178 9,141 2,849 3,938 1,514 24 43,969 31 ,034 3,433 1,475 683 230,238 19,506 16,979 328 474 68 3,005 371 5,474 46,205 276,443 2,614 161,867 164,481 21,355 1,521 10,811 1,970 3,458 39,115 28,337 524 3,208 14,662 18,460 6,971 685 72,847 276,443
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Statement of sta nd·1lone cash flows for the six month s ended September 30 2026 ' (fin lakh s) Six month s ended Six month s ended Particu lars September 30, 2026 September 30, 2025 (Unaudited) (Unaudited) A Cash flow from operating act ivities (Loss)/ profit before tax (3,148) 614 Adjustments for Depreciation and amortisation expenses 5,685 5,702 Finance costs 3,865 3,996 Interest income (1,622) (1 ,381) Unwinding of guarantee obligation (102) - Liabilities no longer required written back (14) - Advances written off 69 - Expected credit loss allowance on trade receivables - 331 Reversal for credit losses on capital advances - (283) Unrea lised loss on foreign currency transactions and translation - 91 Net gain on fair value change in financial instmme nts - (24) Loss/ (profit) on sale of property, plant and equipment (net) 60 (50) 7,941 8,382 Operating profit before working capital changes 4,793 8,996 Changes in working capital Adjustments for (increase)/dec rease in operating assets: Trade receivables (3,6 11) (6,227) Inventories 4,963 589 Other financial assets (3) 99 Other assets 1,385 308 2,734 (5,23 1) Adjustments for increase/(decrease) in operating liabilities: Trade payables (7,588) 760 Other financial liabilities 3,283 (434) Provisio ns 186 202 Other liabilities 3,732 (2,530) (387) (2,002) Cash generated from operating activities 7,140 1,763 Less: Income tax paid, net (321) (241) Net cash generated from operat ing activities 6,819 1,522 B Cash flow from investing activities Purchase of property, plant and equipment including capital work-in-progress, capita l advances and capital creditors (4,099) (2,947) Deposits not considered as cash and cash equivalents - Placed (29) (6,557) - Matured 200 4 Redem ption in other bank balances 4 I Proceeds from disposal of property, plant and equipment 93 58 Unsecured loans given to subsidiaries - (200) Proceeds from unsecured loans given to subsidiaries - 2,300 Loans given to employees (26) - Repayment of loans from employees 45 - Interest received 672 685 Net cash used in investing activities (3,140) (6,656) C Cash flow from financing activities Proceeds from non-current borrowings 5,584 - Repay ment of non-current borrowings (2,380) (5,0 18) Loans given to employees (net) - 17 Proceeds from current borrowings (net) (2,987) 7,596 Payment of principal portion on lease liabilities (326) (147) Payment of interest on lease liabilities (93) (90) Interest paid (3,669) (3,795) Net cash used in financing activities (3,871) (1,437) Net decrea se in cash and cash eq uivalent (A+B+C) (192) (6,571) Cash and cash equivalent at the beginning of the year 328 6,658 Cash and cas h equivalent at the end of the period 136 87 Note: Cash and cash equivalents comprises of: Cash in hand 3 2 Balances with banks 133 85 Cash and cash equivalents 136 87 The above standalone cash flow statement has been prepared under the "'Indirect Method" as set out in Ind AS 7 "Statement of Cash Flows".
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Notes: I 2 3 4 5 6 7 The above standalone unaudited financial results of Sagar Cements Limited ("the Company") as reviewed by the Audit Committee have been approved by the Board of Directors at its meeting held on October 30, 2026. The statutory auditors of the Company have issued an unmodified conclusion in respect of the limited review of the quarter and six months ended September 30, 2026 . The Company is engaged in manufacture and sale of "cement and cement related products" which constitutes a single reportable business segment as per Ind AS I 08 - 'Operating Segments'. The standalone unaudited financial results of the Company have been prepared in accordance with the Indian Accounting Standards ('Ind AS') as prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with relevant rules issued thereunder and other accounting principles generally accepted in India and guidelines issued by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Basis the approval of the Investment Committee of the Board of the Company accorded on January 08, 2026 and March 16, 2026 for Offer for Sale (OFS) equity shares of Andhra Cements Limited (ACL), the Company has made OFS of 1,38,25,821 equity shares (face value~ 10 each) on various dates i.e., January 09, 2026, January 12, 2026, March 17, 2026 and March 18, 2026 through Stock exchange mechanism for its investment in ACL to meet the Minimum Public Shareholding (MPS) by ACL. Accordingly, shareholding of the Company in ACL reduced from 90.00% to 75.00% in the previous year. The Board of Directors of the Company in their meeting held on June 05, 2026, have considered and approved the proposed Scheme of Amalgamation ('Scheme") wherein Andhra Cements Limited (Subsidiary Company) would merge into the Company with effect from April O 1, 2026 ('the Appointed Date") under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, and other rules and regulations framed thereunder ("Scheme"). The aforesaid Scheme is subject to the approval of Stock Exchanges , SEBI, Shareholders and Creditors of the respective companies and National Company Law Tribunal, and such other approvals, permissions, and sanctions of regulatory and other authorities as may be necessary. In the previous year, the Company opted to be taxed under Section 115BAA of the Income-tax Act, 1961; accordingly, deferred tax assets and liabilities have been remeasured using the tax rates expected to apply when the underlying temporary differences reverse. Any reversal of deferred tax liabilities is expected to be substantially offset against the reversal of deferred tax assets, and the resulting impact of the remeasurement has been recognised in the Standalone Statement of Profit and Loss. During the current quarter, pursuant to the enactment of the Mines and Minerals (Development and Regulation) Amendment Act, 2026 and the related Rules notified thereunder , the Company reviewed the provision recognised towards Mineral Bearing Lands (MBL) Cess relating to its Gudipadu and Mattampally limestone mines. Based on Management's assessment, supported by an external legal opinion, it was concluded that the outstanding MBL Cess liability no longer represents a present obligation . Consequently, the liability does not satisfy the recognition criteria prescribed under Ind AS 37 - Provisions, Contingent Liabilities and Contingent Assets . Accordingly , the Company reversed the MBL Cess provision amounting to ~ 750.26 lakhs, which has been recognised as a credit under Other expenses in the Standalone Statement of Profit and Loss for the quarter and six month period ended September 30, 2026. Place: Hyderabad Date: October 30, 2026 For Sagar Cements Limited S 'd. ( Digitally signed by amm1 I A SammidiAnandReddy Anand ReddyD• 1Jt:2026 .10.3o I'/ 16:56:19 +05'30' Dr. S. Anand Reddy (Managing Director)
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BS Rand Co Chartered Accountants Salarpuria Knowledge City, Orwell B Wing, 6th Floor, Unit-3, Sy No. 8311 Plot No. 02, Raidurg Hyderabad - 500 081 , India Telephone + 91 407 182 2000 Fax + 91 407 182 2399 Limited Review Report on unaudited standalone financial results of Sagar Cements Limited for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Sagar Cements Limited 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Sagar Cements Limited (hereinafter referred to as "the Company") for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 ("the Statement"). 2. This Statement , which is the responsibility of the Company's management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters , and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Hyderabad 30 October 2026 Principal Office: For B S R and Co Chartered Accountants Firm's Registration No.: 12851 OW BALKI SHA/ Digitally signed by BALKISHAN KABRA N KA BRA _ __pate: ~026.10.30 ( 17:21 :53 +05'30' Balkishan Kabra Partner Membership No.: 221202 UDIN :26221202GUGDNX5561 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai • 400063 Page 1 of 1
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SI. No. I 2 3 4 5 6 7 8 9 10 II 12 SAGAR CEMENTS LIMITED CIN No: L26942TG198IPLC002887 Plot No. 111, Road No. IO, Jubil~e Hills, Hyderabad - 500 033, Phone: +914023351571 Fax: +914023356573 Emnil: invcstors@sagarcements.in 1 \Vebsite: www.sagarccments.in STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2026 (fin lakhs except per share data and unless otherwise stated) Qunrter ended Six months ended Year ended Particulars September JO, June 30, September 30, Septem bcr 30, Scptem bcr JO, March 31, 2026 2026 2025 2026 2025 2026 (Umrnditedl (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Income (a) Revenue from operations 70,536 70.607 60.186 141.143 127,252 265,002 (b) Olher income 242 238 434 480 853 2,155 Totnl income 70,778 70,845 60,620 141,623 128,105 267,157 Exnenses (a) Cost of materials consumed 11,542 13,136 10,004 24,678 21,620 48,318 (b) Changes in inventories of finished goods and work-in-progress 1,689 (449) 8,06 1 1,240 4,829 2,047 (c) Employee benefits expense 3,794 3,635 3,921 7,429 7,320 14,919 (d) Finance cosls 5,516 5,223 4,648 10,739 9,357 19,695 (e) Depreciation and amortisation expenses 6,129 5,916 5,570 12,045 11,035 23,965 (0 Power and fuel expense 24,610 24,024 14,556 48,634 37,071 85,737 (g) Frei_c,ht and forwarding expense 15,408 13,772 10,869 29,180 23,819 51,741 (h) Other expenses 8,962 9,247 7,642 18,209 15,315 33,041 Total expenses 77,650 74,504 65,271 152,154 130,366 279,463 Loss before tax (1 - 2) (6,872) (3,659) (4,651) (10,531) (2,261) (12,306) Tax exocnse (a) Current tax (216) 114 (940) (b) Deferred lax (Refer note 7) (1,718) (849) (18) (2,567) 1,293 {I 1,293) Total tax exoense (1 ,718) (849 (234) (2,567) 1,407 (12,233} Net loss for tile period/ year (3 - 4) (5,154) (2,810) •(4,417) (7,964) (3,668) (73) Other comnrehensive incom e (i) Items that will not be reclassified to profit or loss - Remeasurement of defined benefits plan (3) (3) 20 (6) 40 (12) - Income tax effect on above I I (8) 2 (17) 5 Totnl other comnrehensive income, net oflnx (2) (2) 12 (4) 23 (7) Totnl comnrchensive income (5+6} (5,156) (2,812) (4,405) (7,968) (3,645) (80) Profit/ (loss} attribulnble lo: Equity shareholders of the Parent (4,377) (2,3 I I) (4,231) (6,688) (4,109) (1,107) Non-controlling interest (777) (499) (186) (1,276) 441 1,034 (5,154) (2,810) (4,417) (7,964) (3,668) (73) Totnl comprehensive income nttribntnble lo: Equity shareholders of the Parent (4,378) (2,313) (4,217) (6,691) (4,083) (1,114) Non-controllin_~ interest (778) (499) (188) (I ,277) 438 1,034 (5,156) (2,812) (4,405) (7,968) (3,645) (80) Paid up equity share capital (Face value of t 2 per share) 2,614 Other equity 166,678 Earnings per share off 2 each (a) Basic (in t) (3.94) (2.15) (3.38) (6.09) (2.81) (0.06) (b) Diluted (int) (3.94) (2.15) (3.38) (6.09) (2.81) (0.06) (') (') (') (') (') ("')- Not nnnunlised
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Consolidated Statement of Assets and Liab ilities ASSETS Non-curre nt assets (a) Property, plant and equipment (b) Capital work-in-progress (c) Right- of-use assets (d) Goodwill (e) Intangible assets (i) Mining rights (ii) Other Intangible assets (f) Financia l assets (i) Loans (ii) Otl1er financial assets (g) Deferred tax assets (net) (h) Other tax assets (net) (i) Other non-current assets Total Non-c urrent assets (I) Cur rent assets (a) Inventories (b) Financial assets (i) Trade receivables (ii) Cash and cash equivalents Particu lars (iii) Bank balances other than (ii) above (iv) Loans (v) Other financial assets (c) Other tax assets (net) (d) Other current assets Total Current assets (2) TOTAL ASSETS (1+2) EQUITY AND LIABILITIES Equity (a) Equity share capital (b) Other equity Equity attributab le to owners of the Company Non-controlling interests Total Eq uity (I) Liabilities Non-current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Other financial liabilities (b) Provis ions (c) Deferred tax liabilities (net) Tota l Non-current liabilities (2) Current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payables (a) total outstanding dues of micro enterprises and small enterprises; and (b) total outstanding dues of creditors other than micro enterprises and small enterprises (iv) Other financial liabilities (b) Other current liabilities ( c) Provisions Total Current liabilities (3) TOTAL EQUITY AND LIABILITIES (1+2+3) (tin lakhs' As at As at Sep tember 30, 2026 March 31, 2026 (Unaudited) /Audited) 323,579 305,498 5,309 11 ,577 5,468 5,406 4,162 4,162 7,576 7,761 31 33 86 98 4,901 5,220 24,393 22,629 1,475 1,475 3,139 10,675 380,119 374,534 24,609 3 1,271 29,228 22,594 186 352 1,185 1,517 61 68 11,678 12,514 887 487 4,993 7,190 72,827 75,993 452,946 450,527 2,614 2,614 159,987 166,678 162,601 169,292 15,523 16,800 178,124 186,092 131,049 122,978 2,503 2,744 12,056 11,616 3,337 3,059 2,653 3,458 151,598 143,855 42,489 44,221 924 892 10,965 7,143 19,368 27,457 34,167 29,297 14,475 10,731 836 839 123,224 120,580 452,946 450,527
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Statement of consolidated cas h nows for the six months ended September 30 2026 ' (~in la khs) Six months ended Six months ended Particulars Septem Iler 30, 2026 September 30, 2025 (Unaud ited) (Unaudited) A Cash now from operating activ ities Loss before tax {10,531) {2,261) Adjustments for Depreciation and amortisation expenses 12,045 11,035 Finance costs 10,739 9,357 Interest income (425) (770) Unw inding of discount on Security deposit (3) - Liabilities no longer required written back (15) - Expected cred it loss allowance on trade receivab les - 341 Reversal for credit losses on capital advances - (283) Unrealised loss on foreign currency transactions and translation - 125 Net gain on fair value change in financial instrum ents - (24) Loss/ (profit) on sale of property, plant and equipme nt (net) 60 (50) Advances written off 93 - 22,494 19,731 Operating profit before working capital changes 11,963 17,470 Changes in working capital Adjustments for (increase)/decrease in operating assets: Trade receivables (6,634) (8,00 1) Inventories 6,662 2,604 Other financial assets 1,296 ( 14) Other assets 2, 156 (2,627) 3,480 (8,038) Adjustments for increase/(decrease) in operating liabilities : Trade payables (4,252) 2,926 Other financial liabilities 3,978 (306) Provisions 211 253 Other liabilities 3,744 (3,539) 3,681 (666) Cash generated from operating activities 19,124 8,766 Less: Income tax paid, net (400) (296) Net cash generated from operating activities 18,724 8,470 B Cash now from investing activities Purchase ofprope11y, plant and equipment including capital work-in-progress, capital advances and capital creditors (15,210) (18,041) Deposits not considered as cash and cash equivalents - Placed (253) (7,9 12) - Matured 205 11 Redemption in other bank balances 4 I Proceeds from disposal of property, plant and equipment 109 73 Loans given to employees (26) - Repayment ofloans from employees 45 - Interest received 570 621 Net cash used in investing activities {14,556) (25,247) C Cash now from financing activities Proceeds from non-current borrowings 17,307 16,368 Repayment of non-current borrowings (7,197) {8,198) Loans given to employees (net) - 17 Paymen t of principal portion on lease liabilities (505) (554) Payment of interest on lease liabilities (139) (107) Proceeds from current borrowings (net) (3,890) 9,980 Interest paid (9,910) (7,666) Net cash (used in)/ generated from financing activities (4,334) 9,840 Net decrease in cash and cash equiva lent (A+B+C) (166) (6,937) Cash and cash equivale nt at the beginning of the year 352 7,049 Cash and cash equivalent at the end of the period 186 112 Note: Cash and cash equivalents comprises of: Cash in hand 5 4 Balances with banks 181 108 Cash and cash equivalents 186 112 The above conso lidated cash flow statement has been prepared under the "'Indirect Method" as set out in Ind AS 7 "Statement of Cash Flows".
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Notes: I 2 3 4 5 6 7 8 The above consolidated unaudited financial results of Sagar Cements Limited ("the Company") as reviewed by the Audit Committee have been approved by the Board of Directors at its meeting held on October 30, 2026. The statutory auditors of the Company have issued an unmodified conclusion in respect of the limited review of the quarter and six months ended September 30, 2026. The Group is engaged in manufacture and sale of "cement and cement related products" which constitutes a single reportable business segment as per Ind AS 108 - 'Operating Segments'. The consolidated unaudited financial results of the Company have been prepared in accordance with the Indian Accounting Standards ('Ind AS') as prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with relevant rules issued thereunder and other accounting principle s generally accepted in India and guidelines issued by the Securitie s and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations , 2015, as amended. The consolidated unaudited financial results includes the results of the Parent and its subsidiaries together referred to as "the Group": a. Sagar Cements Limited (Parent company) b. Sagar Cements {M) Private Limited (Subsidiary company) c. Andlua Cements Limited (Subsidiary company) Basis the approval of the Investment Committee of the Board of Sagar Cements Limited's (' Parent company') accorded on January 08, 2026 and March 16, 2026 for Offer for Sale (OFS) equity shares of Andhra Cements Limited {ACL), the parent company has made OFS of 1,38,25,82 1 equity shares (face value~ 10 each) on various dates i.e., January 09, 2026, January 12, 2026, March 17, 2026 and March 18, 2026 through Stock excha nge mechani sm for its investment in ACL to meet the Minimum Public Shareholding (MPS) by ACL. Accordingly, shareholding of the Parent company in ACL reduced from 90.00% to 75.00% in the previous year. The Board of Directors of the Parent company and its Subsidiary company (Andhra Cements Limited) in their respective meetings held on June 05, 2026, have considered and approved the proposed Scheme of Amalgamation ('Scheme") wherein Andhra Cements Limited (Subsidiary Company) would merge into the Parent company with effect from April 01, 2026 ('the Appointed Date") under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, and other rules and regulations framed thereunder ("Scheme") . The aforesaid Scheme is subject to the approval of Stock Exchanges, SEBI, Shareholders and Creditors of the respective companies and National Company Law Tribunal, and such other approvals, permissions, and sanctions of regulatory and other authorities as may be necessary. The recognition of deferred tax assets is based on projected future taxable income, which provides convincing evidence that sufficient taxable profits will be available to utilise carried-forward business losses, unabsorbed depreciation, and unused tax credits. In the previous year, the Group opted to be taxed under Section I 15BAA of the Income-tax Act, 1961; accordingly, deferred tax assets and liabilities have been remeasured using the tax rates expected to apply when the underlying temporary difference s reverse. Any reversal of deferred tax liabilities is expected to be substantially offset against the reversal of deferred tax assets, and the resulting impact of the remeasurement has been recognised in the Consolidated Statement of Profit and Loss. During the current quarter, pursuant to the enactment of the Mines and Minerals (Development and Regulation) Amendment Act, 2026 and the related Rules notified thereunder, the Group reviewed the provision recognised towards Mineral Bearing Lands (MBL) . Cess relating to its Daehepalli, Gudipadu and Mattampally limestone mines. Based on Management's assessment, supported by an external legal opinion, it was concluded that the outstanding MBL Cess liability no longer represents a present obligation . Consequently, the liability does not satisfy the recognition criteria prescribed under Ind AS 37 - Provisions, Contingent Liabilities and Contingent Assets. Accordingly , the Group reversed the MBL Cess provision amounting to t 868.30 lakhs, which has been recognised as a credit under Other expenses in the Consolidated Statement of Profit and Loss for the quarter and six month period ended September 30, 2026. For Sagar Cements Limited Sam midi l DigitaUy_slgnod by /', Samm1d1 Anand Reddy Anand Reddy ~~~\;.026.10.1016 ,s6,19 (, Place: Hyderabad Dr. S. Anand Reddy (Managing Director) Date: October 30, 2026
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BS Rand Co Chartered Accountants Salarpuria Knowledge City, Orwell B Wing, 6th Floor, Unit-3, Sy No. 83/1 Plot No. 02, Raidurg Hyderabad - 500 081 , India Telephone + 91407182 2000 Fax + 91407182 2399 Limited Review Report on unaudited consolidated financial results of Sagar Cements Limited for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Sagar Cements Limited 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Sagar Cements Limited (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). 2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters , and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly , we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: S.No Name of the component 1 Sagar Cements Limited 2 Andhra Cements Limited 3 Sagar Cements (M) Private Limited Country Relationsh ip India Parent India Subsidiary India Subsidiary Principal Office: 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 2
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BS Rand Co Limited Review Report (Continued) Sagar Cements Limited 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Hyderabad 30 October 2026 For B S R and Co Chartered Accountants Firm's Registration No.:128510W BALKISH /\ I Digitally signed by /"\. BALKISHAN KABRA N KA B RA ___ Dat~ 2026 .10.30 (., 17:22:16 +05'30' Balkishan Kabra Partner Membership No.: 221202 UDIN:26221202CQALHP3505 Page 2 of 2