Interim report
Page 1
GI GRAPHITE INDIA LIMITED REGD . & H.O. 31 , CHOWRINGHEE ROAD , KOLKATA 700 016 , W.B. , INDIA PHONE : 91 33 4002 9600 , 2226 5755/4942/4943/5547/2334 , 2217 1145/1146 FAX : 91 33 2249 6420 , E - mail : gilro@graphiteindia.com WEBSITE : www.graphiteindia.com , CIN : L10101WB1974PLC094602 GIL : SEC / SM / 25-26 / 47 August 4 , 2026 BSE Limited The Corporate Relationship Department 1st Floor , New Trading Ring , Rotunda Bldg . , P.J.Towers , Dalal Street , Mumbai 400 001 . Scrip Code 509488 Sub : Sir , The Manager Listing Department National Stock Exchange Exchange Plaza , 5th Floor , Plot No - C / 1 , G Block , Bandra - Kurla Complex , Bandra ( E ) Mumbai 400 051 Symbol GRAPHITE Unaudited financial results for the quarter ended 30th June , 2026 along with Limited Review Report thereon Pursuant to Regulation 33 of SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 , we enclose herewith the unaudited ( standalone and consolidated ) financial results of the Company for the quarter ended 30th June , 2026 as approved by the Board of Directors at its meeting held today i.e. 4th August , 2026 along with the Limited Review Report of the Statutory Auditors . The meeting of the Board of Directors commenced at 1.00 p.m. and concluded at 2.05 p.m. Thanking you , Yours faithfully , For Graphite India Limited S. Marda Company Secretary Encl . As above .
Page 2
S. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 1 Earnings/(Loss) per Share (of ? 2/- each) (not annualised except for the year ended 31st March, 2026): (a) Basic (after Exceptional Item) (t) (b) Diluted (after Exceptional Item) (t) Macc iij;aTmM * Amounts are below the rounding off norm adopted by the Company. GRAPHITE INDIA LIMITED ON: L10101WB1974PLC094602 Regd.C>ffice: 31, Chowringhee Road, Kolkata 700 016 Telephone No: 91 33 40029600; Fax No: 91 33 40029676 Email Id: gilro@graphiteindia.com; Website: www,graphiteindia,com Statement of Standalone Unaudited Financial Results for the Quarter Ended 30th June, 2026 30th June, 2026 (Unaudited) Particulars Income Revenue from Operations Fc>ther income (Refer Note 5) ITotat Income (1+2) Expenses (a) Cost of Materials Consumed (Refer Note 3) (b) Purchases of Stock-in-trade (c) Changes in Inventories of Finished Goods and Work-in-progress (Refer Note 3) (d) Employee Benefits Expense (e) Consumption of Stores and Spare Parts (f) Power and Fuel (g) Finance Costs (Refer Note 6) (h) Depreciation and Amortisation Expense (i) Other Expenses (Refer Note 5) Total Expenses IProHt/(Loss) before Exceptional Item & Tax (3 - 4) [Exceptional item (Refer Note 4) Profit/(Loss) before Tax (5 + 6) ITax Expense - Current Tax - Deferred Tax Charge/(Credit) Profit/(Loss) for the Period/Year (7 - 8) Other Comprehensive Income A. Items that will not be reclassified to profit or loss (net of tax) B. Items that will be reclassified to profit or loss (net of tax) Total Other Comprehensive Income for the Period/Year (net of tax) ITotai Comprehensive Income/(Loss) for the Period/Year (9 + IO) Paid-up Equity Share Capital (Face Value ? 2/- ner Equity Share} Other Equity Quarter ended 3:Ist March, 2026 (Audited) (Refer Note 2) 765 107 872 354 2 (17) 52 72 100 3 21 87 674 198 198 31 10 157 dr 157 39 8.02 8.02 816 35 851 293 3 90 48 73 101 17 21 308 954 (I03} = 16 (87) 29 (43) (73) 4 4 (69) 39 (3.7D (3.71) 30th June: 2025 (Unaudit;6 643 146 789 251 7 53 50 58 88 1 21 82 611 178 178 28 5 145 145 39 7.43 7.43 (? in Crores) Year ended 3:Lst March, 2026 (Audited) 2,812 167 2,979 1, 142 22 159 206 254 381 21 86 354 2,625 354 (11) 343 100 (21) 264 3 3 267 39 5,595 13.54 13.54 kT:: rKO1,kata Pal 1).(P
Page 3
GRAPHITE INDIA LIMITED S. No 1 2 3 4 * Amounts are below the rounding off norm adopted by the Company. Regd.Office: 3:L,Cbowringhee Road, Kolkata 700 016 Segment Reporting 30th June, 2026 (Unaudited) Particulars FSEGMENT REVENUE - Graphite and Carbon Steel Others Total Less: Inter Segment Revenue Revenue frorn Operations SEGMENT RESULTS - Graphite and Carbon Steel Others Total Less: Finance Costs (Refer Note 6) Other Un-allocable Expenditure/(Income)(Net) Profit/(Loss) before Exceptional Item and Tax Exceptional item (Refer Note 4) Proby(Loss) before Tax SEGMENT ASSETS - Graphite and Carbon Steel Others Tota! Segment assets Un-allocated Assets Total Assets FSEGMENT UABIUTIES - Graphite and Carbon Steel Others Total Segment Liabilities Un-allocated Liabilities Total Liabilities T- & r\1 n\\ia\a Quarter ended BiginIFiii: 2026 (Audited) (Refer Note 2) 651 111 3 765 765 69 43 112 3 (89) 198 198 2,579 317 155 3,051 4, 177 7,228 325 46 8 379 1,058 1,437 729 76 li 816 816 aol 15 5 121 17 207 (103) 16 (87) 2,762 218 ill 3,091 4,123 7,214 394 27 10 431 1,149 1,580 3C)th June, 2025 (Unaudited) 576 51 17 644 I 643 35 5 9 49 a (130) 178 178 2,510 180 76 2,766 4,285 7,051 445 26 8 479 845 1,324 (? in Crores) Year ended 3:Lst March, 2026 (Audited) 2,508 257 50 2,815 3 2,812 213 42 23 278 21 (97) 354 (11) 343 2,762 218 111 3,091 4,123 7,214 394 27 10 431 1,149 1,580
Page 4
GRAPHITE INDIA LIMITED Regd.Office: 3:1, Chowringhee Road, Koikata 700 016 Notes to the standalone unaudited financial results - 1 The above standalone unaudited financial results of the Company have been prepared in accordance with the Indian Accounting Standards ( Ind AS) notified under Section :133 of the Companies Act, 20:13 (the 'Act*) read with Companies (Indian Accounting Standards) Rules, 2D15 as amended from time to time and the other accounting principles generally accepted in India and in compliance with Regulation 33 of the SEal (Listing Obligations and Disclosure Requirernent$) Regulations, 20:15. The above results have been reviewed by the Audit Committee and approved by the Board at their respective meetings held on 4th August, 2026. The Auditors of the Company have carried out a Limited Review of the above financial results for the quarter ended 30th June, 2026 in terms of Regulation 33 of the SEB! (Listing Obligations and Disclosure Requirements) Regulations, 2015 and issued an unmodified conclusion. 2 The figures of the last quarter are the balancing figures between the audited figures in respect of the full financial year up to 3:iSt March, 2026 and the unaudited published yeahtculate figures up to the 3:Ist December, 2025 being the date of the end of the third quarter of the financial year which were subject to limited review. 3 The Company, in accordance with the applicable ind AS has recognized inventory on Net Realkab le Vaiue {NRV} basis to the extent applicable and has accordingly written down the carrying cost of inventory. T?Ie value of such write down (Balance Sheet position) is Rs. 22 Crores as at 3C>th June, 2026, Rs. 45 Crores as at 3:ist March, 2e)26 and Rs. 75 Crores as at 30th june, 2025 4 Pursuant to enactment of the New Labour Codes, the Company had recognised an exceptional charge of Rs. 27 Crores during the quarter and nine months ended 3:Ist December, 2025 towards incremental employee benefit obligations arising from the revised wage definition. Following a reassessment of employee compensation structures in Une with the Company’s policy of periodically reviewing employee compensation arrangements, Rs. 16 Crores was reversed during the quarter ended 3:Ist March, 2026, resulting in a net exceptional charge of Rs. 1:1 Crores for the year ended 31st March, 2826. 5 Other Income / Other Expenses include the net gain/(loss) on fair value of investments measured at Fair Value through Profit or Loss (FVTPL) in accordance with Ind AS ICD 'Financial Instruments=, as detai ted bela\M Quarter Ended 31st March 2026 (f in Crores) Year Ended 31st March 2026 (Audited) PartIculars 3C>th June. 2026 (Unaudited) 3C>th June: 2025 (Unaudited) (Refer Note 2) Net gain on fair value of i measured at Fair Value through Profit or Loss (FVTPL) recognised in Other Income Net loss on fair value of irlvestrrlenb measured at Fair Value through Profit or Loss (FVTPL) recognised in Other Expenses 6 Pursuant to litigation relating to the levy of electricIty duty on captive power generation for the period from Ist April1 2000 to 30th April, 2005 in respect of one of the Cornpany's plant, the Hon'ble Supreme Court, ade its order dated 25th March1 20261 upheld the State of Maharashtra's levy, reversing the earlier favourable High Court decision that had granted exemption. Accordingly, during the quarter and year ended 3:Ist March 2026, the Company had recognised additional interest of Rs. 15 Crores under 'Finance Costs'. 7 Based on income tax assessment orders received by the Company in respect of Assessment Years 201&19 and 2019-207 the Company had received refunds amounting to Rs. 417 Crores in earlier years, The Company had preferred appeals against the short allowance of deduction claimed by the Company. Pending disposal of such appealsf no credit/adjustment has been made on a prudent basis. T-& F:nd rKt)\kata P & b. €P' ; By Order of the Board For Graphite India Limited k–--q r) Chai n DIN: 00029427Date : 4th August, 2026
Page 5
S.R. BATLIBOI & CO. LLP 22. Camac Street 3rd Floor. Block 'B' Kolkata - 700 016, India Tel : +91 33 6134 4000 Chartered Accountants Independent Auditor’s Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Graphite India Limited 1 We have reviewed the accompanying statement of unaudited standalone financial results of Graphite India Limited (the “Company”) for the quarter ended June 30, 2026 (the “Statement”) attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). 2 The Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company’s Board of Directors. 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. 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 Standards ('Ind AS’) specified under Section 133 of the Companies Act1 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in S.R. Batliboi & Co. LLP, a Limited Liability Partnership with LLP Identity No. AAB-4294
Page 6
S.R. BATLIBOI & CO. LLPChartered Accountants terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material rnisstatement. For S.R. BATLIBOI & Co. LLP Chartered Accountants ICAI Firm registration number: 301003E/E300005 per Shivam Partner Membership No.: 067077 UDIN:26067077rv -zgel:; SSL Place: Kolkata Date: August 4, 2026 Chowdhary }{Gtka’_Li
Page 7
GRAPHITE INDIA LIMITED CIN: L10101WB1974PLC094602 Regd.Office: 31, Chowringhee Road, Kolkata 700 016 Telephone No: 91 33 40Q29600; Fax No: 91 33 4€)029676 Email Id: gilro@graphiteindia.com; Website: www,graphtteindia.com Statement of Consolidated Unaudited Financial Results for the quarter ended 30th June, 2026 S. No. Particulars Income I Revenue from Operations (Refer Note 5)1 2 3 4 Other Income (Refer Note 5) ITotal Income (1+2) Expenses (a) Cost of Materials Consumed (Refer Note 3) {b) Purchases of Stock-in-trade (c) Changes in Inventories of Finished Goods and Work-in-progress (Refer Note 3) (d) Employee Benefits Expense (e) Consumption of Stores and Spare Parts (f) Power and Fuel (g) Finance Costs (Refer Note 6) (h) Depreciation and Arnortisation Expense (i) Other Expenses (Refer Note 5) Total Expenses I Profit/(Loss) before Exceptional Item and Tax (3-4) ! Exceptional Item (Refer Note 4) E Profit/(Loss) before Tax (5+6) I Tax Expense - Current Tax 5 6 7 8 - Adjustment of Tax relating to Earlier Years - Deferred Tax Charge / (Credit) F Profit/(Loss) for the Period/Year (7 - 8)9 10 Other Comprehensive Income/(Loss) A. Items that will not be reclassified to profit or loss (net of tax) B. Items that will be reclassified to profit or loss (net of tax) ETotal Other Comprehensive Income/(Loss) for the Period/Year (net of tax) 11 ITotal Comprehensive Income/(Loss) for the Period/Year (9 + lo) 12 Profit/(Loss) Attributable to: Equity-holders of the Parent Company Non-controlling interests 13 Other Cornprehensive Income/(Loss) Attributable to: Equity-holders of the Parent Company Non40ntrolling interests ITotal Comprehensive Income/(Loss) Attributable to: Equity-holders of the Parent Company Non-controlling interests 14 15 16 Paid-up Equity Share Capital (Face Value { 2/- per Equity Share) Other Equity 17 1 Earnings/(loss) per Share (of ? 2/- each) (not annualised except for the year ended 31st March, 2026) : (a) Basic (after Exceptional Item} P) (b) Diluted (after Exceptional Item) ( ? ) 5See accompanying notes to the financial results Zla§@@Mill;:'rouncTTnT }\kata 30th June, 2026 (Unaudited) 8421 971 m 3601 2: (6)i 70: 73: 102: 41 231 97: 728 li:i'i 214 311 (4)i 16 Mil (1)1 TH I r701 r961 1 1491 2041 172 (DI (DI 171: (1)1 391 8.821 8.821 rP b, Quarter ended 30th June, 2025 (Unaudited) 31st March, 2026 {Audited) Refer Note 2 8161 39: M 296: 3i 961 641 75: 105 : 181 23i 316 MnTl16 1 (125) f 167 1 2441 29 (3) (46)! ml 4 5 @: (96) (104) (1)1 (95); (1)i 39 (5.3D i (5.31)i (f in Crores) -?i;F;;;;ie-a 31st March, 2026 (Audited) 665 150 @ 2521 8: 561 64 59 901 2 24 93 @i67 167 281 6 1331 16: T6 149 134 (i) 161 150: (1): 391 6.871 6.87 ! '/ 2,852 174 3,026 1, 152 22 175 267 259 392 25 95 384 2,771 255 (11) 244 101 (3) (25) 171 3 30 33 204 175 (4) 33 208 (4) 39 5,820 8.97 8.97
Page 8
S. No 1 2 3 4 it ,t ,f i„„est,„e,ns ca„i,d ,. th, books of , ,„bs,di„y, bei,g a N,,_ba,kingFinancial Company. rounding off norm adopted by the Group. GRAPHITE INDIA LIMITED Regd.Office: 31, Chowringhee Road, Kolkata 700 016 Segment Reporting 30th June, 2026 (Unaudited) Particulars ISEGMENT REVENUE - Graphite and Carbon Steel Others # Total Less: Inter Segment Revenue Revenue from Operations (Refer Note 5) ISEGMENT RESULTS - Graphite and Carbon Steel Others Total Less: Finance Costs (Refer Note 6) Other Un-allocable Expenditure/(Income)(net) Profit/(Loss) before Exceptional Item and Tax Exceptional Item (Refer Note 4) Profit/(Lass) before Tax [SEGMENT ASsrrs - Graphite and Carbon Steel Others Total Segment assets Un-allocated Assets Total Assets }SEGMENT UABIUTIES - Graphite and Carbon Steel Others Total Segment Uabiiities Un-allocated Liabilities Total Liabiliti% n\ la Quarter ended ' i:Lst March, 2026 (Audited) Refer Note 2 687 1111 451 8431 II 8421 56, 43' 421 141 41 (77)1 2141 214 2,828 3171 3391 3,4841 4,1341 7,6181 3361 461 81 3901 1,2021 1,592 758 761 (18)1 8161 8161 94 15 (25)1 84 18 2071 (14D ! 161 (125) 1 3,007 218i 2521 3,477 4, l031 7,580 1 409 271 lol 4461 1,2781 L7241 30th June, 2025 (Unaudited) 595 : 51 201 6661 l 665 1 21 5 1.2 i 38 ' 2 (131)1 1671 167 2,755 180 266 3,2011 4,2801 7,481: 468: 261 81 5021 9621 1,4641 (? in Crores) -t;iTe;;;ii; 3:Isi March, 2026 (Audited) 2,594 257 4 2,855 3' 2,852 164 42 (24) 182 25 (98) 255 (11) 244 3,007 218 252 3,477 4, 103 7,580: 409 27 10 446 1,278i 1,7241
Page 9
GRAPHITE INDIA LIMITED Regd.Office: 31, Chowringhee Road, Kolkata 700 016 Notes to the consolidated unaudited financial results- 1 The above consolidated unaudited financial results of the Group [Graphite India Limited and seven subsidiaries] have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 (the 'Act') read with Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time and the other accounting principles generally accepted in India and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 The above results have been reviewed by the Audit Committee and approved by the Board of the Parent Company at their respective meetings held on 4th August, 2026. The Auditors of the Parent Company have carried out a Limited Review of the above financial results for the quarter ended 30th June, 2026 in terms of Regulation 33 of the SEBI (LisUng Obligations and Disclosure Requirements) Regulations, 2015 and issued an unmodified conclusion The figures of the last quarter are the balancing figures between the audited figures in respect of the full financial year up to 31st March, 2026 and the unaudited published year-to-date figures up to the 31st December, 2025 being the date of the end of the third quarter of the financial year which were subject to limited review. The Group, in accordance with the applicable Ind AS has recognized inventory on Net Reailzabie Value {NRV} basis to the extent applicable and has accordingly written down the carrying cost of inventory. The value of such write down (Balance Sheet position) is Rs. 24 Crores as at 30th June, 2026, Rs. 47 Crores as at 3:Ist March, 2026 and Rs. 77 Crores as at 3 C)th June, 2025. 2 3 4 Pursuant to enactment of the New Labour Codes, the Parent Company had recognised an exceptional charge of Rs. 27 Crores during the quarter and nine months ended 3:Ist December 2025 towards incremental employee benefit obligations arising from the revised wage definition. Following a reassessment of employee compensation structures in line with the Parent Company's policy of periodically reviewing employee compensation arrangements, Rs. 16 Crores was reversed during the quarter ended 31st March 2026, resulting in a net exceptional charge of Rs. 11 Crores for the year ended 31st March 2026. 5 Other Income / Other Expenses / Revenue from Operations include the net gain/(loss) on fair value of investments measured at Fair Value through Profit or Loss (FVTPL) in accordance with Ind AS 109 'Financial Instruments’, as detailed below: (t in Crores) 3C>th June 2026 rter Ended 31st March 2026 I 2025 (Unaudited) I Year Ended (Unaudited) (Audited) Refer Note 2 73Net gain on fair value of measured at Fair Value through Profit or Loss (FVTPL) in Other Income Net loss on fair value of ItS measured at Fair Value through Profit or Loss (FVTPL) in Other Expenses Net gaaii;;--iFRamEiT measured at Fair Value through Profit or Loss (FVfPL) in Revenue from Operations # # Represents mark to market gain/(loss) in respect of investments carried in the books of a subsidiary, being a Non-banking Financial Comp 6 Pursuant to litigation relating to the levy of electricity duty on captive power generation for the period from 1 st April, 2000 to 30th April, 2005 in respect of one of the Parent Company's plant, the Hon’ble Supreme Court, vide its order dated 25th March, 2026, upheld the State of Maharashtra’s levy, reversing the earlier favourable High Court decision that had granted exemption. Accordingly, during the quarter and year ended 31st March, 2026, the Parent Company had recognised additional interest of Rs. 15 Crores under 'Finarice Costs'. 7 Based on income tax assessment orders received by the Parent Company in respect of Assessment Years 2018-19 and 2019-20, the Parent Company had received refunds amounting to Rs. 417 Crores in earlier years. The Parent Company had preferred appeals against the short allowance of deductions claimed by the Parent Company. Pending disposal of such appeals, no credit/ adjustment has been made on a prudent basis. Subsequent to 30th June 2026, on 8th July 2026, Graphite International B.V., a wholly-owned subsidiary of the Parent Company and sole shareholder of the German step-down subsidiaries, approved the closure and discontinuation of the Graphite Specialities and Coating businesses in Germany due to the adverse impact of the prolonged Russia-Ukraine conflict and weak market demand on the competitiveness of these operations, 8 nB:}fb- rl) Ko\ka\a E).$1 i By Order of the Board For Graphite India Limited ban2ur Chairman DIN: 0002942 Date - 4th August, 2026
Page 10
S.R. BATLIBOI & CO. LLP 22. Camac Street 3rd Floor. Block 'B’ Kolkata - 700 016, India Tel : +91 33 6134 4000 Chartered Accountants Independent Auditor’s Review Report on the Quarterly Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Graphite India Limited 1 We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Graphite India Limited (the “Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries together referred to as “the Group”), for the quarter ended June 30, 2026 (the “Statement”) attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). 2 The Holding Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company’s Board of Directors . 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. 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 Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. j& C.:::Qi 1'. rst.a L/ ) ;Id: . In'S.R. Batlibol & Co. LLP, a Limited Liability Partnership with LLP Identity No. AAB-4294
Page 11
S.R. BATLIBOI &(-"O. LLPChartered Accountants 4 The Statement includes the results of the following entities: Entity Relationship Graphite India Limited Holding Company Carbon Finance Limited Subsidiary of Graphite India Limited Graphite International B.V. (“GI BV”) Subsidiary of Graphite India Limited Graphite Cova GmbH Subsidiary of GI BV Bavaria Electrodes GmbH* Subsidiary of GI BV Bavaria Carbon Holdings GmbH Subsidiary of GIBV Bavaria Carbon Specialities GmbH Subsidiary of GI BV General Graphene Corporation SubsidiaW of GIBV * Shareholders resolution for liquidation passed with effect from October 1, 2022 5 Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS’) specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6 The accompanying Statement includes the unaudited interim financial results and other unaudited financial information, in respect of one (1) subsidiary and consolidated financial results in respect of one (1) subsidiary including its five (5) subsidiaries, whose unaudited interim financial results and other unaudited financial information include total revenues of Rs. 77.98 crores, total net profit after tax of Rs. 12.96 crores and total comprehensive income of Rs. 13.25 crores for the quarter ended June 30, 2026, as considered in the Statement which have been reviewed by their respective independent auditors. The independent auditor’s reports on unaudited interim financial results and other unaudited financial information of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries, is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above. in:r4+ B DC tP' TI
Page 12
S.R. BATLIBOI & CO. LLPChartered Accountants Our conclusion on the Statement in respect of matter stated in paragraph 6 above is not modified with respect to our reliance on the work done and the reports of the other auditors. For S.R. BATLIBOI & Co. LLP Chartered Accountants ICAI Firm registration number: 301003E/E300005 :IF,i,/' d,.„d :per Shivam Chowdharf an i{olkct3a Partner Membership No.: 067077 \. UDIN, 260G70770bv A PG253g Place: Kolkata Date: August 4, 2026