Interim report
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Registered Office 33-35 Thyagraj Nagar Mkt, New Delhi - 110003 Tel.: +91.11.2462.7552 F.: +91.11.2462.0872 October 31, 2026 The Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex Bandra (E), Mumbai-400051 NSE SYMBOL : NUCLEUS The Listing Department BSE Limited Phiroze Jeejeebhoy Towers, 25th Floor, Dalal Street, Mumbai-400001 SCRIP CODE: 531209 Dear Sir/Ma’am, SUB: OUTCOME OF THE BOARD MEETING AND FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 REF: REGULATION 33 AND 30(2) OF SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 This has reference to our letter dated October 19, 202 6, regarding the captioned subject. The Board, at their meeting held today i.e., October 31, 2026 transacted the following items of business: Financial Results: i. Approved the Audited Standalone Financial Results with Auditor’s Report of the Company for the Quarter and Half Year ended September 30, 2026; ii. Approved the Un-Audited Consolidated Financial Results with Limited Review Report of the Company for the Quarter and Half Year ended September 30, 2026. The above Financials have been duly reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on October 31, 2026. In compliance with the said regulations, the same is also available on the website of the Company: www.nucleussoftware.com Timings of Meeting: Commencement Time: 10:00 A.M. Conclusion Time: 03:40 P.M. This is for your information and records. Thanking You, Yours Sincerely, For Nucleus Software Exports Limited Poonam Bhasin Company Secretary Encl: as above
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Registered with Limited Liability • LLPIN: AAB-7688 INDEPENDENT AUDITOR’S REPORT ON THE REVIEW OF THE CONSOLIDATED INTERIM FINANCIAL RESULTS To the Board of Directors of Nucleus Software Exports Limited 1. We have reviewed the accompanying Statement of unaudited consolidated interim financial results of Nucleus Software Exports Limited (“the Parent” including Nucleus Software Equity Incentive Trust (“the Trust”)) and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”) for the quarter and half year ended September 30, 2026 (the “Statement”) attached herewith, being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “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 (the “Act”) read with relevant rules issued thereunder 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 SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable. 4. The Statement includes the results of the following entities: i. Nucleus Software Exports Limited ii. Nucleus Software Solutions Pte. Limited iii. Nucleus Software Inc. iv. Nucleus Software Japan Kabushiki Kaisha v. Nucleus Software Netherlands B.V. vi. Nucleus Software Limited vii. Nucleus Software Australia Pty. Ltd. viii. Nucleus Software South Africa (Pty.) Limited ix. Nucleus Software Vietnam Company Ltd. x. Nucleus Software Equity Incentive Trust (included in the standalone financial results of Parent)
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5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of the other auditor referred to in paragraph 6 below and unreviewed financial information referred to in paragraph 7 below, 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. 6. We did not review the interim financial information of one subsidiary included in the Statement, whose financial information reflect total assets of Rs. 3,186 Lakhs as at September 30, 2026 and total revenue of Rs. 2,867 Lakhs and Rs. 5,627 Lakhs, total net profit after tax of Rs. 108 Lakhs, and Rs. 138 Lakhs for the quarter and half year ended September 30, 2026 respectively and net cash outflows of Rs. 74 Lakhs for the half year ended on that date, as considered in the Consolidated Financial Results, which have been reviewed by the other auditor whose report has been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this entity, is based solely on the report of the other auditor and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of this matter with respect to our reliance on the work done and report of the other auditor. 7. The Statement includes unreviewed financial information of seven subsidiaries and the Trust, whose financial information reflect total assets of Rs. 5,430 Lakhs as at September 30, 2026 and total revenue of Rs. 1,013 Lakhs and Rs. 1,988 Lakhs, total net profit after tax of Rs. 95 Lakhs, and Rs. 179 Lakhs for the quarter and half year ended September 30, 2026 respectively and net cash inflows of Rs. 464 Lakhs for the half year ended September 30, 2026, as considered in the Statement. This unreviewed financial information have been furnished to us by the Board of Directors. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and the Trust, is based solely on such financial information. In our opinion and according to the information and explanations given by the management, these financial information are not material to the Group. Our conclusion on the Consolidated Financial Results is not modified in respect of the above matter with respect to the financial information certified by the Board of Directors. For ASA & Associates LLP Chartered Accountants Firm Registration No. 009571N/N500006 Prateet Mittal Partner Membership No. 402631 UDIN: 26402631HQQGDE9481 Place: Gurugram Date: October 31, 2026
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Registered with Limited Liability • LLPIN: AAB-7688 INDEPENDENT AUDITOR’S REPORT ON THE AUDIT OF THE STANDALONE INTERIM FINANCIAL RESULTS To The Board of Directors of Nucleus Software Exports Limited Opinion We have audited the accompanying Statement of Standalone Interim Financial Results of Nucleus Software Exports Limited (the “Company” including Nucleus Software Equity Incentive Trust (“the Trust”)), for the quarter and half year ended September 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”). In our opinion and to the best of our information and according to the explanations given to us, the Statement: a. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and b. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”) 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 of the net profit and total comprehensive income, and other financial information of the Company for the quarter and half year ended September 30, 2026. Basis for Opinion We conducted our audit of the Statement in accordance with the Standards on Auditing (“SAs”) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in Auditor’s Responsibilities for the Audit of the Standalone Interim Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (“ICAI”) together with the ethical requirements that are relevant to our audit of the standalone interim financial results for the quarter and half year ended September 30, 2026, under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion. Management’s and Board of Directors’ Responsibilities for the Standalone Interim Financial Results This Statement, which is the responsibility of the Company’s Management and approved by the Board of Directors, has been compiled from the related audited standalone interim financial statements as at and for the quarter and half year ended September 30, 2026. This responsibility includes the preparation and presentation of the standalone interim financial results for the quarter and half year ended September 30, 2026 that give a true and fair view of the net profit and other comprehensive income and other financial
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information of the Company in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone interim financial results that give a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the standalone interim financial results, the Board of Directors are responsible for assessing the Company’s ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors are also responsible for overseeing the financial reporting process of the Company. Auditor’s Responsibilities for the Audit of the Standalone Interim Financial Results Our objectives are to obtain reasonable assurance about whether the standalone interim financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone interim financial results. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the standalone interim financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors. Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations. Conclude on the appropriateness of the Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the standalone interim financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence
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obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern. Evaluate the overall presentation, structure, and content of the standalone interim financial results, including the disclosures, and whether the standalone interim financial results represent the underlying transactions and events in a manner that achieves fair presentation. Obtain sufficient appropriate audit evidence regarding the standalone interim financial results of the Company to express an opinion on the standalone interim financial results. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. Other Matter The Statement includes the unaudited interim financial information of the Trust, whose interim financial information reflects total assets of Rs. 852 Lakhs as at September 30, 2026, total revenue of Rs. Nil and Rs. Nil and total net profit/loss after tax of Rs. Nil and Rs. Nil Lakhs for the quarter and half year ended September 30, 2026 respectively, and net cash inflows of Rs. 6 Lakhs for the period from April 01, 2026 to September 30, 2026 as considered in the Statement. This unaudited financial information have been furnished to us by the Board of Directors. Our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this trust, is based solely on such financial information. In our opinion and according to the information and explanations given by the management, these financial information are not material to the Company. Our opinion on Standalone Interim Financial Results is not modified in respect of the above matter with respect to the financial information certified by the Board of Directors. For ASA & Associates LLP Chartered Accountants Firm Registration No. 009571N/N500006 Prateet Mittal Partner Membership No. 402631 UDIN: 26402631FTKCEF7485 Place: Gurugram Date: October 31, 2026
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(Amount in Rupees Lakhs unless otherwise stated) For the year ended Particulars 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 31 March 2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1. REVENUE FROM OPERATIONS Income from software products and services 22,770 21,043 21,351 43,813 43,123 87,603 2. OTHER INCOME 1,602 1,783 1,616 3,385 3,412 6,416 3. TOTAL INCOME (1+2) 24,372 22,826 22,967 47,198 46,535 94,019 4. EXPENSES a) Employee benefits expense 16,424 15,718 14,753 32,142 29,308 58,941 b) Operating and other expenses 4,764 4,529 4,257 9,293 8,076 16,105 c) Finance cost 41 37 33 78 57 141 d) Depreciation, amortisation and impairment expenses 523 514 383 1,037 723 1,649 TOTAL EXPENSES 21,752 20,798 19,426 42,550 38,164 76,836 5. PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (3-4) 2,620 2,028 3,541 4,648 8,371 17,183 6. EXCEPTIONAL ITEMS (refer note 4 below) - (982) - (982) - 2,195 7. PROFIT BEFORE TAX (5-6) 2,620 3,010 3,541 5,630 8,371 14,988 8. TAX EXPENSE Net current tax expense 533 633 791 1,166 1,904 3,655 Deferred tax (credit) /charge (38) (10) 121 (48) 318 (341) NET TAX EXPENSE 495 623 912 1,118 2,222 3,314 9. PROFIT FOR THE PERIOD/YEAR (7-8) 2,125 2,387 2,629 4,512 6,149 11,674 10. OTHER COMPREHENSIVE INCOME / (LOSS) A) (i) Items that will not be reclassified to profit or loss - - - Remeasurement of the net defined benefit liability/asset 376 (334) 181 42 104 374 Equity instruments through other comprehensive income - net change in fair value 245 247 (78) 492 346 467 - - - - (ii) Tax (expense) / income relating to Items that will not be reclassified to profit or loss (36) 49 13 13 (28) (161) - - - - - - - - B) (i) Items that will be reclassified subsequently to profit or loss Exchange differences on translation of foreign operations 48 (40) 205 8 352 347 Effective portion of gains and loss on hedging instruments in a cash flow hedge 10 93 (61) 103 (48) (114) (ii)Tax (expense) / income relating to items that will be reclassified subsequently to profit or loss (2) (23) 17 (25) 14 27 TOTAL OTHER COMPREHENSIVE INCOME / (LOSS), NET OF TAX 641 (8) 277 633 740 940 11. TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/YEAR (9+10) 2,766 2,379 2,906 5,145 6,889 12,614 Profit for the period/year attributable to -Shareholders of the Company 2,125 2,387 2,629 4,512 6,149 11,674 -Non controlling interest - - - - - - Total comprehensive income attributable to -Shareholders of the Company 2,766 2,379 2,906 5,145 6,889 12,614 -Non controlling interest - - - - - - 12. Paid up Equity Share Capital (Face Value Rupees 10 each) 2,633 2,633 2,633 2,633 2,633 2,633 13. Other Equity - - - - - 88,112 14. Earnings Per Share (Rupees) (Par value Rupees 10 each) Basic 8.08 9.07 9.99 17.15 23.36 44.35 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised) Diluted 8.08 9.07 9.99 17.15 23.36 44.35 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised) For the quarter ended For the six months ended NUCLEUS SOFTWARE EXPORTS LIMITED CIN : L74899DL1989PLC034594 Registered Office : 33-35, Thyagraj Nagar Market, New Delhi - 110003, India Tel: +91-120-4031400; Fax : +91-120-4031672; Email : investorrelations@nucleussoftware.com; Website: www.nucleussoftware.com PART I : STATEMENT OF CONSOLIDATED INTERIM FINANCIAL RESULTS OF NUCLEUS SOFTWARE EXPORTS LIMITED AND ITS SUBSIDIARIES FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2026
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(Amount in Rupees Lakhs unless otherwise stated) For the year ended Particulars 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 31 March 2026 Audited Audited Audited Audited Audited Audited 1. REVENUE FROM OPERATIONS Income from software products and services 20,809 19,369 19,637 40,178 39,717 80,597 2. OTHER INCOME 1,593 1,774 1,896 3,367 4,324 7,301 3. TOTAL INCOME (1+2) 22,402 21,143 21,533 43,545 44,041 87,898 4. EXPENSES a) Employee benefits expense 14,437 13,791 12,943 28,228 25,711 51,541 b) Operating and other expenses 5,076 4,942 4,553 10,018 8,706 17,550 c) Finance cost 30 28 25 58 42 112 d) Depreciation, amortisation and impairment expenses 497 489 357 986 673 1,547 TOTAL EXPENSES 20,040 19,250 17,878 39,290 35,132 70,750 5. PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (3-4) 2,362 1,893 3,655 4,255 8,909 17,148 6. EXCEPTIONAL ITEMS (refer note 4 below) - (982) - (982) - 2,195 7. PROFIT BEFORE TAX (5-6) 2,362 2,875 3,655 5,237 8,909 14,953 8. TAX EXPENSE Net current tax expense 490 587 745 1,077 1,840 3,435 Deferred tax (credit) /charge (40) (7) 125 (47) 325 (313) NET TAX EXPENSE 450 580 870 1,030 2,165 3,122 9. PROFIT FOR THE PERIOD/YEAR (7-8) 1,912 2,295 2,785 4,207 6,744 11,831 10. OTHER COMPREHENSIVE INCOME / (LOSS) A) (i) Items that will not be reclassified to profit or loss Remeasurement of the net defined benefit liability/asset 376 (334) 181 42 104 374 Equity instruments through other comprehensive income - net change in fair value 245 247 (78) 492 346 467 (ii) Tax (expense) / income relating to Items that will not be reclassified to profit or loss (36) 49 13 13 (28) (161) B) (i) Items that will be reclassified subsequently to profit or loss - - - - Effective portion of gains and loss on hedging instruments in a cash flow hedge 10 93 (61) 103 (48) (114) (ii)Tax (expense) / income relating to items that will be reclassified subsequently to profit or loss (2) (23) 17 (25) 14 27 TOTAL OTHER COMPREHENSIVE INCOME / (LOSS) , NET OF TAX 593 32 72 625 388 593 11. TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/YEAR (9+10) 2,505 2,327 2,857 4,832 7,132 12,424 12. Paid up Equity Share Capital (Face Value Rupees 10 each) 2,633 2,633 2,633 2,633 2,633 2,633 13. Other Equity - - - - - 84,833 14. Earnings Per Share (Rupees) (Par value Rupees 10 each) Basic 7.27 8.72 10.58 15.99 25.62 44.94 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised) Diluted 7.27 8.72 10.58 15.99 25.62 44.94 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised) PART I : STATEMENT OF STANDALONE INTERIM FINANCIAL RESULTS OF NUCLEUS SOFTWARE EXPORTS LIMITED FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2026 For the quarter ended For the six months ended
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(Amount in Rupees Lakhs unless otherwise stated) For the year ended Particulars 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 31 March 2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited a) Revenue by geographical segment India 13,047 11,806 12,256 24,853 24,926 51,081 Far East 859 884 777 1,743 1,476 3,131 South East Asia 2,498 2,281 2,500 4,779 5,118 10,095 Europe 1,301 1,147 984 2,448 2,057 3,985 Middle East 2,823 2,548 2,649 5,371 4,971 10,023 Africa 215 203 245 418 459 943 Australia 442 406 372 848 957 1,949 Others 1,585 1,768 1,568 3,353 3,159 6,396 Total 22,770 21,043 21,351 43,813 43,123 87,603 Less :- Inter segment revenue - - - - - - Net revenue from operations 22,770 21,043 21,351 43,813 43,123 87,603 b) Segment profit / (loss) before tax India 6,264 4,667 6,811 10,931 14,241 27,650 Far East 151 194 106 345 260 538 South East Asia (442) (662) (663) (1,104) (1,256) (2,626) Europe 692 595 372 1,287 846 1,571 Middle East 284 417 334 701 242 1,360 Africa (10) (22) 49 (32) 109 277 Australia 45 88 68 133 227 534 Others 416 615 534 1,031 1,187 2,670 Total 7,400 5,892 7,611 13,292 15,856 31,974 Add:- Other income 1,602 1,783 1,616 3,385 3,412 6,416 Less:- Unallocable corporate expenditure* 6,382 4,665 5,686 11,047 10,897 23,402 Profit before tax 2,620 3,010 3,541 5,630 8,371 14,988 - - #REF! #REF!c) Segment assets India 18,127 13,597 8,902 18,127 8,902 8,759 Far East 380 330 388 380 388 498 South East Asia 2,730 2,007 2,161 2,730 2,161 2,752 Europe 460 973 350 460 350 647 Middle East 2,898 3,974 1,603 2,898 1,603 2,862 Africa 803 564 536 803 536 175 Australia 348 54 176 348 176 50 Others 1,256 191 1,122 1,256 1,122 1,171 Total 27,002 21,690 15,238 27,002 15,238 16,914 Add:- Unallocated corporate assets 1,07,453 1,10,745 1,07,720 1,07,453 1,07,720 1,09,699 Total assets 1,34,455 1,32,435 1,22,958 1,34,455 1,22,958 1,26,613 d) Segment liabilities India 20,345 17,466 18,765 20,345 18,765 13,320 Far East 305 305 367 305 367 382 South East Asia 5,748 6,187 4,892 5,748 4,892 5,759 Europe 226 383 195 226 195 170 Middle East 4,317 5,140 4,177 4,317 4,177 4,419 Africa 645 610 420 645 420 321 Australia 1,007 964 1,035 1,007 1,035 507 Others 2,277 2,176 1,849 2,277 1,849 2,233 Total 34,870 33,231 31,700 34,870 31,700 27,111 Add :- Unallocated corporate liabilities* 7,332 5,956 6,385 7,332 6,385 8,757 Total liabilities 42,202 39,187 38,085 42,202 38,085 35,868 NUCLEUS SOFTWARE EXPORTS LIMITED PART II : SEGMENT REPORTING (CONSOLIDATED) For the quarter ended For the six months ended * Unallocable corporate expenses and unallocable corporate liabilities includes Rs. (982 Lakhs) for the previous quarter ended 30 June 2026 and Rs. 2,195 Lakhs for the previous year ended 31 March 2026 towards exceptional items. (refer note 4 below)
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(Amount in Rupees Lakhs unless otherwise stated) For the year ended Particulars 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 31 March 2026 Audited Audited Audited Audited Audited Audited a) Revenue by geographical segment India 13,018 11,777 12,238 24,795 24,891 51,011 Far East 246 320 247 566 438 983 South East Asia 2,350 2,230 2,230 4,580 4,555 8,808 Europe 145 153 115 298 341 594 Middle East 2,823 2,548 2,649 5,371 4,971 10,023 Africa 215 203 245 418 459 943 Australia 443 407 372 850 957 1,949 Others 1,569 1,731 1,541 3,300 3,105 6,286 Total 20,809 19,369 19,637 40,178 39,717 80,597 Less:- Inter segment revenue - - - - - - Net revenue from operations 20,809 19,369 19,637 40,178 39,717 80,597 b) Segment profit / (loss) before tax India 6,217 4,662 6,796 10,879 14,211 27,698 Far East 87 140 (31) 227 (50) (44) South East Asia (422) (628) (622) (1,050) (1,089) (2,946) Europe 77 103 43 180 173 362 Middle East 284 417 334 701 242 1,359 Africa (10) (22) 49 (32) 109 278 Australia 26 76 49 102 190 462 Others 378 515 495 893 1,118 2,477 Total 6,637 5,263 7,113 11,900 14,904 29,646 Add:- Other income 1,593 1,774 1,896 3,367 4,324 7,301 Less:- Unallocable corporate expenditure* 5,868 4,162 5,354 10,030 10,319 21,994 Profit before tax 2,362 2,875 3,655 5,237 8,909 14,953 c) Segment assets India 18,196 13,663 8,894 18,196 8,894 8,830 Far East 99 82 96 99 96 211 South East Asia 1,813 1,108 1,593 1,813 1,593 1,972 Europe 2 295 1 2 1 2 Middle East 2,898 3,974 1,603 2,898 1,603 2,862 Africa 803 564 535 803 535 175 Australia 342 48 170 342 170 44 Others 1,192 183 1,094 1,192 1,094 1,202 Total 25,345 19,917 13,986 25,345 13,986 15,298 Add:- Unallocated corporate assets 1,04,559 1,07,868 1,05,317 1,04,559 1,05,317 1,06,972 Total assets 1,29,904 1,27,785 1,19,303 1,29,904 1,19,303 1,22,270 d) Segment liabilities India 20,279 17,392 18,725 20,279 18,725 13,277 Far East 297 318 390 297 390 371 South East Asia 5,286 5,343 4,316 5,286 4,316 5,054 Europe 224 340 145 224 145 169 Middle East 4,317 5,140 4,177 4,317 4,177 4,419 Africa 645 610 420 645 420 321 Australia 879 871 1,014 879 1,014 481 Others 2,296 2,268 1,864 2,296 1,864 2,294 Total 34,223 32,282 31,051 34,223 31,051 26,386 Add:- Unallocated corporate liabilities* 7,060 5,585 6,079 7,060 6,079 8,418 Total liabilities 41,283 37,867 37,130 41,283 37,130 34,804 * Unallocable corporate expenses and unallocable corporate liabilities includes Rs. (982 Lakhs) for the previous quarter ended 30 June 2026 and Rs. 2,195 Lakhs for the previous year ended 31 March 2026 towards exceptional items. (refer note 4 below) NUCLEUS SOFTWARE EXPORTS LIMITED PART II : SEGMENT REPORTING (STANDALONE) For the quarter ended For the six months ended
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(Amount in Rupees Lakhs unless otherwise stated) As at As at As at As at 30 September 2026 31 March 2026 30 September 2026 31 March 2026 ASSETS Unaudited Audited Audited Audited Non-current assets Property, plant and equipment 5,658 6,058 5,635 6,032 Capital work in progress - 6 - 6 Other intangible assets 241 293 237 286 Intangible assets under development 5 2 5 2 Right of use assets 1,164 1,315 1,125 1,249 Investment Property 1,226 1,241 - - Financial assets Investments 36,881 35,275 38,962 37,260 Loans - 1 - 1 Other financial assets 18,919 22,284 18,862 22,231 Income tax asset (net) 2,241 1,158 2,232 1,155 Other non-current assets 62 57 62 58 Total non-current assets 66,397 67,690 67,120 68,280 Current Assets Financial assets Investments 27,409 29,103 26,887 28,604 Trade receivables 22,037 12,112 21,271 11,322 Cash and cash equivalents 4,710 8,001 1,575 5,174 Other bank balances 8,504 4,310 8,504 4,310 Loans 2 8 82 88 Other financial assets 587 246 448 100 Other current assets 4,809 5,143 4,017 4,392 Total current Assets 68,058 58,923 62,784 53,990 TOTAL ASSETS 1,34,455 1,26,613 1,29,904 1,22,270 1,34,455 1,26,613 1,29,904 1,22,270 EQUITY & LIABILITIES EQUITY Equity share capital 2,633 2,633 2,633 2,633 Other equity 89,620 88,112 85,988 84,833 Total equity attributable to equity holders of the company 92,253 90,745 88,621 87,466 Non- controlling interest - - - - Total Equity 92,253 90,745 88,621 87,466 LIABILITIES Non-current liabilities Financial liabilities Lease liabilities 363 491 360 478 Other financial liabilities 52 30 - - Other non-current liabilities 10 12 - - Provisions 5,569 5,836 5,299 5,574 Deferred tax liabilities (net) 1,238 1,275 1,335 1,368 Total non-current liabilities 7,232 7,644 6,994 7,420 Current liabilities Financial liabilities Lease liabilities 355 364 319 312 Trade payables 1,913 1,821 2,363 2,299 Other financial liabilities 4,687 7,466 4,221 6,735 Provisions 928 718 745 554 Current tax liabilities (net) 164 113 - - Other current liabilities 26,923 17,742 26,641 17,484 Total current liabilities 34,970 28,224 34,289 27,384 TOTAL EQUITY AND LIABILITIES 1,34,455 1,26,613 1,29,904 1,22,270 NUCLEUS SOFTWARE EXPORTS LIMITED PART III : STATEMENT OF BALANCE SHEET Particulars CONSOLIDATED STANDALONE
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(Amount in Rupees Lakhs unless otherwise stated) For the year ended 30 September 2026 30 September 2025 31 March 2026 Unaudited Unaudited Audited A. Cash flow from operating activities Net profit before tax 5,630 8,371 14,988 Adjustment for: Depreciation, amortisation and impairment expenses 1,037 723 1,649 Exchange (gain) / loss on translation of foreign currency accounts (net) 101 (160) (410) Interest income on financial assets- carried at amortised cost (1,461) (1,453) (2,936) MTM (gain) on investments (1,604) - (2,713) (Profit) / Loss on sale of property, plant and equipment (net) (18) (28) (31) Unwinding of interest on security deposit 2 1 2 Share based compensation expense 460 - - Interest expense on lease liability 37 25 64 Interest others - - 13 Bad debts and allowance / provision for doubtful trade receivables / advances / other current assets (5) 228 5 Withholding tax charged off 225 258 497 Discounting of staff loan and security deposit (7) (8) (16) Deferred lease income on Security deposit received (2) (2) - Operating profit before working capital changes 4,395 7,955 11,112 Adjustment for (increase) / decrease in operating assets Trade receivables (9,824) 2,217 1,818 Loans 8 21 33 Other assets 322 816 (1,007) Adjustment for increase / (decrease) in operating liabilities Trade payables 97 188 550 Provisions and other liabilities 6,300 4,366 2,633 1,298 15,563 15,139 Income taxes paid (net) (2,195) (3,157) (3,393) Net cash from operating activities (A) (897) 12,406 11,746 B. Cash flow from investing activities Acquisition of property, plant and equipment and intangible assets under development (377) (1,685) (2,837) Proceeds from sale of property, plant and equipment 28 37 17 Net (purchase)/sale of mutual funds, tax free bonds and preference shares 2,124 (2,913) 3,564 Bank deposits, FDR (net) and other bank balances not considered as cash and cash equivalents (580) (6,046) (6,255) Interest received on fixed deposits, tax free bonds 768 806 248 Net cash (used in) investing activities (B) 1,963 (9,801) (5,263) C. Cash flow from financing activities Principal repayment of lease liabilities (182) (134) (295) Interest paid on lease liabilities (37) (25) (64) Treasury Shares purchased during the period (846) - - Interim dividend / Final dividend paid (3,291) (3,291) (3,291) Net cash used in financing activities (C) (4,356) (3,450) (3,650) Net increase/ (decrease) in cash and cash equivalents (A+B+C) (3,290) (845) 2,833 Opening cash and cash equivalents 8,001 5,046 5,046 Exchange difference on translation of foreign currency bank accounts (1) 22 122 Closing cash and cash equivalents 4,710 4,223 8,001 NUCLEUS SOFTWARE EXPORTS LIMITED PART IV : STATEMENT OF CASH FLOWS (CONSOLIDATED) Particulars For the six months ended
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(Amount in Rupees Lakhs unless otherwise stated) For the year ended 30 September 2026 30 September 2025 31 March 2026 Audited Audited Audited A. Cash flow from operating activities Net profit before tax 5,237 8,909 14,953 Adjustment for: Depreciation, amortisation and impairment expenses 986 673 1,547 Unrealised exchange (gain) / loss on translation of foreign currency accounts (net) 86 (196) (442) Dividend received from subsidiary companies - (903) (903) Interest income on financial assets- carried at amortised cost (1,452) (1,452) (2,934) Share based compensation expense 460 - - Discounting of staff loan and security deposit (9) (6) (12) MTM (gain) on investments (1,586) (1,566) (2,684) (Profit) / Loss on sale of property, plant and equipment (net) (18) (28) (31) Interest expense on lease liability 34 23 58 Bad debts and allowance / provision for doubtful trade receivables / advances / other current assets (45) 228 (105) Provision for diminution in value of investment 32 - 30 Withholding tax charged off 157 196 376 Operating profit before working capital changes 3,882 5,878 9,853 Adjustment for (increase) / decrease in operating assets Trade receivables (9,901) 1,599 1,414 Loans 48 61 103 Other assets 264 1,068 (158) Adjustment for increase / (decrease) in operating liabilities Trade payables 73 251 816 Provisions and other liabilities 6,806 4,261 2,097 1,172 13,118 14,125 Income taxes paid (net) (2,309) (2,355) (3,965) Net cash from operating activities (A) (1,137) 10,763 10,160 B. Cash flow from investing activities Acquisition of property, plant and equipment and intangible assets under development (374) (1,972) (2,819) Proceeds from sale of property, plant and equipment 25 34 39 Net (purchase)/sale of mutual funds, tax free bonds and preference shares 2,035 (1,255) 4,447 Bank deposits, FDR (net) and other bank balances not considered as cash and cash equivalents (590) (6,047) (6,258) Interest received on fixed deposits, tax free bonds 768 806 248 Dividend from subsidiary company - 903 903 Net cash (used in) investing activities (B) 1,864 (7,531) (3,440) C. Cash flow from financing activities Principal repayment of lease liabilities (154) (110) (244) Interest paid on lease liabilities (34) (23) (58) Treasury Shares purchased during the period (846) - - Interim dividend / Final dividend paid (3,291) (3,291) (3,291) Net cash used in financing activities (C) (4,325) (3,424) (3,593) Net increase/ (decrease) in cash and cash equivalents (A+B+C) (3,598) (192) 3,127 Opening cash and cash equivalents 5,174 1,885 1,885 Exchange difference on translation of foreign currency bank accounts (1) 48 162 Closing cash and cash equivalents 1,575 1,741 5,174 NUCLEUS SOFTWARE EXPORTS LIMITED PART IV : STATEMENT OF CASH FLOWS (STANDALONE) Particulars For the six months ended
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NOTES: 1. 2. 3. 4. 5. 6. 7. By the order of the Board For Nucleus Software Exports Limited VISHNU R DUSAD Managing Director Place : Noida Date: 31 October 2026 Property, plant and equipment and intangible assets used in the Group's business cannot be specifically identified with any of the reportable segments, as these are used interchangeably between various segments. The consolidated and the standalone Interim financial results for the quarter and six months ended 30 September 2026 were reviewed by the Audit Committee and have been approved and taken on record by the Board of Directors at its meeting held on 31 October 2026. The statutory auditors have carried out an audit of the standalone interim financial results of Nucleus Software Exports Limited (‘the Company’ or ‘the Holding Company’) and a limited review of the consolidated interim financial results of the Company and its subsidiaries (the Holding Company and its subsidiaries together referred to as ‘the Nucleus Software Group’ or "the Group") for the quarter and six months ended 30 September 2026. The statutory auditors have expressed an unmodified audit opinion and review conclusion respectively on these financial results. Financial results for the all the periods presented have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 ( as amended from time to time ) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable. On 21 November 2025, the Government of India notified provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code,2020, (‘Labour Codes’) which consolidate twenty-nine existing labour laws into a unified framework governing employee benefits during employment and post-employment. The Labour Codes, amongst other things introduces changes, including a uniform definition of wages and enhanced benefits relating to leave. The Company had assessed and disclosed the financial impact in "Exceptional Items" during the previous year ended 31 March 2026, resulting in an increase in gratuity liability of Rs. 1,590 lakhs and compensated absences liability of Rs. 605 lakhs. During the previous quarter ended 30 June 2026, pursuant to a revision in the remuneration structure, the Company recognised a reduction in gratuity liability of Rs. 699 lakhs and compensated absences liability of Rs. 283 lakhs. The resultant impact has been presented under “Exceptional Items” in the Consolidated and Standalone Statements of Profit and Loss for the previous quarter ended 30 June 2026 and for the six months ended 30 September 2026. The Nomination and Remuneration/Compensation Committee on 20 May 2026 and 2 August 2026, had approved the grant of 2,50,000 (Two Lakhs Fifty Thousand) and 9,060 (Nine Thousand Sixty) RSUs respectively to eligible employees under the Nucleus Software RSU Scheme – 2026. These RSUs are convertible into an equal number of equity shares of the Company having a face value of ₹10 each, subject to the terms and conditions of the Scheme. The Company had constituted Nucleus Software Equity Incentive Trust ('Trust') to acquire, hold and allocate/transfer equity shares of the Company to eligible employees of the RSU scheme from time to time on the terms and conditions specified under the Scheme. The financial information of the Trust have been included in the standalone and consolidated interim financial results of the Company in accordance with the requirements of Ind AS and the cost of such treasury shares has been presented as a deduction in Other Equity. The number of equity shares (which are lying with Trust) have been reduced while computing basic and diluted earnings per share. The Board of Directors on 21 May 2026 had recommended a payment of Final Dividend of Rs. 12.50 per share (on equity share of par value of Rs.10 each) for the year ended 31 March 2026. The payment was approved by shareholders at the annual general meeting held on 27 July 2026. This dividend was paid on 28 July 2026. The Board of Directors on 16 May 2025 had recommended a payment of Final Dividend of Rs. 12.50 per share (on equity share of par value of Rs.10 each) for the year ended 31 March 2025. The payment was approved by shareholders at the annual general meeting held on 28 July 2025. This dividend was paid on 31 July 2025.