Interim report
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October 26, 2026 Electronic Filing Sub: Outcome of Board Meeting held on October 26, 2026 A. In terms of Regulation 30 read with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( “SEBI-LODR”), we wish to inform you that the Board of Directors of the Company in its meeting held today i.e., Monday, October 26, 202 6, which commenced at 11:00 A.M. and concluded at 12:15 P.M., inter alia, transacted foll owing transaction: 1. Approved the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026. 2. Approved the acquisition of an additional 31% equity stake, comprising 15,500 equity shares of ₹10 each, in SG Enterprise Solutions Private Limited (“SSC”) for an aggregate cash consideration of ₹1,55,000 (Rupees One Lakh Fifty-Five Thousand only). Upon completion of the acquisition, the Company’s equity shareholding in SSC will increase from 20% to 51%, consequent to which SSC will become a subsidiary of the Company. B. The following documents are enclosed with respect to the items transacted in the meeting: - The Unaudited Financial Results alongwith the Limited Review Reports thereon given by M/s Walker Chandiok & Co. LLP, Chartered Accountants (FRN: 001076N/N500013) , Gurugram, Statutory Auditors of the Company are enclosed herewith. - The necessary disclosures required pursuant to Regulation 30 read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025 -CFD-POD2/I/3762/2026 d ated January 30, 2026. National Stock Exchange of India Limited “Exchange Plaza” Bandra-Kurla Complex, Bandra (E), Mumbai-400051 NSE Symbol : APLAPOLLO Department of Corporate Services/Listing BSE Limited Phiroze Jeejeebhoy Tower, Dalal Street, Fort, Mumbai-400001 Scrip Code: 533758
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C. This disclosure along with the enclosures shall be made available on the website of the Company viz. www.aplapollo.com. We request you to kindly take the above information on your record. Thanking you Yours faithfully For APL Apollo Tubes Limited Vipul Jain Company Secretary and Compliance Officer Encl: a/a
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Details with respect to acquisition of equity shares of SG Enterprise Solutions Private Limited, as required in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025 - CFD POD2/I/3762/2026 dated January 30, 2026: S.No. Particulars Details 1. Name of the target entity, details in brief such as size, turnover etc.; Name of the target entity : SG Enterprise Solutions Private Limited Size, Turnover: SSC was incorporated on September 10, 2026 and yet to commence operations. Accordingly, historical turnover information is not available. Its issued equity share capital comprises 50,000 equity shares of ₹10 each. 2. Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”; The proposed acquisition would constitute a related party transaction, as the equity shares are proposed to be acquired from SG Green Buildings Private Limited and S Gupta Holding Private Limited, both of which are related parties of the Company. Transferor Name No. of shares to be acquired S Gupta Holding Pvt. Ltd. 7,750 SG Green Buildings Pvt. Ltd. 7,750 S Gupta Holding Private Limited is a promoter group of the Company. Further, the promoters of the Company, together with their immediate relatives, hold more than 20% of the equity share capital of SG Green Buildings Private Limited. The transaction shall be undertaken on an arm’s length basis.
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3. Industry to which the entity being acquired belongs; Group Shared Services Company which will provide common corporate support services. 4. Objects and impact of acquisition The target entity shall act as a Group Shared Services Company which will provide common corporate support services to participating Group entities through a centralised shared services model. Post acquisition, the target entity shall become Subsidiary of the Company. 5. Brief details of any governmental or regulatory approvals required for the acquisition; No governmental or regulatory approvals required for this acquisition. 6. Indicative time period for completion of the acquisition; The acquisition is expected to be completed by December 31, 2026. 7. Consideration - whether cash consideration or share swap or any other form and details of the same; The acquisition shall be made for cash consideration. 8. Cost of acquisition and/or the price at which the shares are acquired; Aggregate consideration of ₹ 1, 55,000 (Rupees One Lakh Fifty Five Thousand only). 9. Percentage of shareholding / control acquired and / or number of shares acquired; • Existing equity shareholding of the Company: 20%. • Additional equity shareholding proposed to be acquired: 31%, comprising 15,500 equity shares of ₹10 each. • Equity shareholding upon completion: 51% 10. Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief); The target entity was incorporated on September 10,2026 and yet to commence operations. • The target entity shall act as a Group Shared Services Company which will provide common corporate support services to participating Group entities
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through a centralised shared services model. Post acquisition, the target entity shall become Subsidiary of the company. • Since the target entity is newly incorporated, the details of last three years turnover not available. • Country of Incorporation: India
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Walker Chandiok &.Co LLP Walker Chandiok & Co LLP Unit No. 02, Second Floor, BPTP Capital Citlj, Plot No - 2B, Sector-94, Noida, Gautam Buddha Nagar - 201301 Uttar Pradesh, India T +91120 485 5999 F +91120 485 5902 Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 and Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of APL Apollo Tubes Limited 1. We have reviewed the accompanying statement of unaudited consolidated financial results ('the Statement') of APL Apollo Tubes Limited ('the Holding Company') and its subsidiaries (the Holding Company and its subsidiaries together referred to as 'the Group ') and its associates (refer Annexure 1 for the list of subsidiaries and associates included in the Statement) for the quarter ended 30 September 2026 and the consolidated year to date results for the period 01 April 2026 to 30 September 2026, being submitted by the Holding Company pursuant to the requirements of Regulation 33 and Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations ') read with SEBI Master Circular SEBI/HO / DDHS / DDHS-PoD / P/ CIR/ 2025/0000000137 dated 15 October 2025. 2. This Statement, which is the responsibility of the Holding Company's management and approved by the Holding Company'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'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 and Regulation 52(4) 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 the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matter s that might be identified in an audit. Accordingly, we do not express an audit opinion. \Ve also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, to the extent applicable. ! b - --· i-9 -~ "~.o • ·•1/:0,\ : '-'··.,, Chartered Accountant s Offic es in Ahmedobad, Bengaluru, Chandigarh, Chennai, Dehradun, Goa, Gurugrcm, Hyderabad, Indore, Jaipur, Kochi, Kolkata, Mumbai, New Delhi, Neida and Pune Walker Chondiok & Co LLP is registered with limited liability with identification number AAC-2085 and has its registered office at L-lt1, Connaught Circu s, Outer Circle, New Delhi, 110001, Indio
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Walker Chandiok &..Co LLP Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 and Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd) 4. Based on our review conducted and procedures performed as stated in paragraph 3 above and upon consideration of the review report of the other auditor referred to in paragraph 5 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 Ind ,-\.S 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 and Regulation 52(4) of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We did not review the interim financial results of one subsidiary included in the Statement, whose financial results reflects total assets of< 1,090.93 crores as at 30 September 2026, and total revenues of< 425.01 crores and < 714.02 crores, total net profit after tax of< 26.86 crores and < 28.48 crores, total comprehensive income of< 26.86 crores and < 28.48 crores, for the quarter and year-to-date period ended on 30 September 2026, respectively, and net cash inflows of< 5.65 crores for the period ended 30 September 2026, as considered in the Statement. T hese interim financial results have been reviewed by other auditor whose review report has been furnished to us by the management , and our conclusion in so far as it relates to the amounts and disclosures included in respect of this subsidiary is based solely on the review report of such other auditor and the procedures performed by us as stated in paragraph 3 above . Our conclusion is not modified in respect of this matter with respect to our reliance on the work done by and the report of the other auditor. 6. The Statement also includes the Group's share of net profit after ta.x of< Nil and < Nil and total comprehensive income of< Nil and < Nil, for the quarter and year-to-date period ended on 30 September 2026, respectively, as cons.idered in the Statement, in respect of two associates, based on their interim financial results, which have not been reviewed by their auditor, and have been furnished to us by the Holding Comp any's management. Our conclusion in so far as it relates to the amounts and disclosures included in respect of these associates is based solely on such unreviewed interim financial results. Accordin g to the information and explanations given to us by the management, these interim financial results are not ma terial to the Group. Our conclusion is not modified in respect of this matter with respect to our reliance on the financial results certified by the Board of Directors. For Walker Chandiok & Co LLP Chartered Accountants : ! mR:~~ N500013 p i'vf ship No . 502667 UD h''1: 26502667YOUUCZ2959 Place: Noida Date: 26 October 2026
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Walker Chandiok &..Co LLP Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 and Regulation 52(4) of the SEBI (Listing Obligations and Discloswe Requirements) Regulations, 2015 (as amended) (cont'd) Annexure 1 List of entities included in the Statement 1. Holding Company: i) APL Apollo Tubes Limited 2. Subsidiary companies: i) APL Apollo Building Products Limited (Formerly known as APL Apollo Building Products Private Limited ii) Apollo Metalex Limited (Formerly known as Apollo Metalex Private Limited) iii) A P L Apollo Tubes Company LLC iv) APL Apollo Mart Limited (refer note 5 to the Statement of Consolidated Unaudited Financial Results) v) Blue Ocean Projects Private Limited (refer note 3 to the Statement of Consolidated Unaudited Financial Results) 3. Associates: i) APL Apollo Foundation ii) SG Enterprise Solutions Private Limited (incorporated on 10 September 2026)
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APL APOLLO TUBES LIMITED Regd. Office: 37, Hargob lnd Endave, Vlkas Marg, Delhi - 110092 Statement of Consolidated Financial Results ror the quarter and half year ended September 30, 2026 CIN : L74899DL1986PLC023443 (Rupees in crores, except EPS) Particulars Quarter ended Quarter ended Quarter ended Hair year ended Hair year ended Year ended September 30, June 30, September 30, September 30, September 30, March 31, 2026 2026 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) l Revenue from operations (a) Sale of products 6,796.65 5,438.21 5,362 .64 12,234.86 10,365.45 22,383 .62 (b) Other operating income 205.05 168 .50 168 .64 373,55 335 .60 695.38 Total revenue from operations 7.001 .70 5,606 .71 5,531.28 12,608.41 10,701.05 23,079 .00 II Other Income (Refer note 3) 40.16 39.52 25 .07 79 .68 50 .64 111.85 III Total income (I +II) 7,041.86 5,646 .23 5,556 .35 12,6SS.09 10,751.69 23, 190.85 IV Expenses (a) Cost of mater ials consumed 5,596 .14 4,686 .93 4,353 .66 10,283.07 8,486.22 17,716.02 (b) Purchase of stock- in-trade (traded goods) 216 ,79 236.30 463.55 453.09 653.53 1,657.48 (c) Changes in inventories or finished goods, stock in trade, 85.57 (206.39) (150 .91) (120 .82) (93.13) 135.50 work-in-progress, rejecti on and scrap (d) Employee benefits expense 106.48 106.09 88.67 212 .57 181.63 370 .50 (e) Finance costs 52.40 38 .94 27.60 91.34 60.86 125 .37 (F) Depreciation and amortisation expense 65.87 59.43 58.13 125 .30 112.49 230.92 (g) Other expenses 418 .91 372 .50 329.29 79 1.41 653.78 1,397 .68 Total expenses 6,542 .Ui 5,293 .80 5,169.99 11,835,96 10,055 ,38 21,633.47 V Profit before tax (III-IV) 499.70 352.43 386.36 852.13 696.31 1,557.38 VI Tax expense : (a) Current tax 131.12 69.03 81.27 200 .15 148.49 331.57 (b) Income tax related to earlier years 0.19 0.35 0 .19 0.35 3.25 (c) Deferred tax (credit)/ charge (14. 031 20 ,29 3.20 6.26 8,76 19.48 Total tax expense 117.28 89.32 84.82 206.60 157 .60 354. 30 VII Profit ror the period / year (V-VI) 382.42 263.11 301.54 645 .53 538,71 1,203 .08 VIII Other Comprehensive Income Add / (less) : Items that will not be r"eclasslfled to profit or loss (a) Equity instruments through other comprehensive income 22.04 25 .54 (bl Income tax relating to (a) above (3.76) (3.76) (c) Remeasurement of post employment benefit obligation 0.75 0.75 0.11 1.50 0.21 2.74 (d) Income tax relat ing to (c) above (0 .18) (0.18) (0 .02) (0.36) (0.05) (0.66) Add / (less) : items that will be reclassified to profit or loss Foreign currency translation reserve 4.97 9.54 {6.78) 14.51 (6.35) 14.68 Other Comprehensive Income / (loss) for the period / year 5.54 10.11 (6.69) 15.65 12.09 38.54 IX Total Comprehensive Income for the period / year 387.96 273.22 294.85 661.18 550,80 1,241.62 (VII+VIII) X Paid up Equity Share Capital 55.54 55.54 55.53 55.54 55.53 55.54 (Face value of Rupees 2 each) XI Other equity 5,240.99 XII Eamings per equity share (EPS) of Rupees 2 each # ; (a) Basic (In Rupees) 13.62 9.48 10.86 23.25 19.41 43 .34 (b) Diluted (In Rupees) 13 .61 9.48 10.86 23 .23 19.40 43.34 # EPS is not annualised for the quarter and half year ended September 30, 2026, quarter ended June 30, 2026 and quarter and half year ended September 30, 2025 .
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APL APOLLO TUBES LIMITED Regd. Office: 37, Hargobind Enclave, Vikas Marg, Delhi-110092 Statement of Consolidated Assets and Liabilities as at September 30, 2026 CIN: L74899DL1986PLC023443 Particulars A. ASSETS (1) Non - current assets (a) (b) (c) (d) (e) (f) (g) (h) (i) (2) (a) (b) (c) B. (1) (2) (a) Property plant and equipment Capital work-in-progress Right of use assets Goodwill Other intangible assets Investment accounted for using equity method Financial assets (i) Investments (ii) Loans (iii) Other financial assets Non-current tax assets (net) Other non-current assets Total non-current assets Current assets Inventories Financial assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balances other than (ii) above (iv) Loans (v) Other financial assets Other current assets Total current assets Assets classified as held for sale (Refer note 4) Total current assets Total Assets EQUITY AND LIABILITIES ~ (i) Equity share capital (ii) Other equity Total equity Non-current liabilities Financial liabilities (i) Borrowings (ia) Lease liabilities (b) Provisions (c) Deferred tax liabilities (net) (d) Other non-current liabilities (3) (a) Total non-current liabilities Current liabilities Financial liabilities (i) Borrowings (ia) Lease liabilities (ii) Trade payables - total outstanding dues of micro enterprises and small enterprises - total outstanding dues of creditors other than micro enterprises and small enterprises (iii) Other financial liabilities (b) Other current liabilities (c) Provisions (d) Current tax liabilities (net) Total current liabilities Total Equity and Liabilities As at September 30, 2026 (Unaudited) 3,777.63 393 .54 140.41 137.50 1.55 0.05 51.29 1.66 57.07 10.00 373.22 4,943.92 1,675.23 378.22 892.08 257.71 5.19 1,579.32 199.03 4,986.78 15.59 5,002.37 9,946.29 55.54 5,684.77 5,740.31 187.80 40.31 29.78 183.66 176.00 617.55 730.31 4.29 46.82 2,518.44 37.47 151.04 3.86 96.20 3,588.43 9,946.29 (Rupees in crores) As at March 31, 2026 (Audited) 3,740.06 328.24 181.01 137.50 1.85 0.05 48.49 1.47 282.47 8.18 249.84 4,979.16 1,445 .30 350.70 644 .18 242.05 3.71 1,009.61 156.94 3,852.49 1.65 3,854.14 8,833.30 55.54 5,240 .99 5,296.53 260.52 40.94 29.85 179.84 156.67 667.82 191.95 4.24 36.90 2,331.40 39.33 205.40 2.99 56.74 2,868.95 8,833.30
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APL APOLLO TUBES LIMITED Regd. Office: 37, Hargobind Enclave, Vikas Marg, Delhi - 110092 Statement of Consolldated Cash Flows for the half year ended September 30, 2026 CIN-L74899DL1986PLC023443 Particulars A. Cash flow from operating activities Profit before tax ~ ment s for: Depreciation and amortisation expense (Profit)/ Loss on sale of property, plant and equipment (net) Finance costs Gain on sale of investment in subsidiary Interest income on fixed deposits Interest income on others Bad debts written off Provision for slow moving inventory of spares & consumables Interest benefit on Interest free loan Loss on investments measured at fair value through profit & loss account Net unrealised foreign exchange (gain)/ loss Expected credit loss allowance Share based expenses Export obligation deferred income amortisation Operating profit before working capital changes Changes in working capital: Adjustments for (increase) / decrease in operating assets : Inventories Trade receivables Current loans and other financial assets Non-current loans and other financial assets Other current assets Other non-current assets Adjustments for increase/ (decrease) in operating liabilities: Trade payables Other current liabilities Other current financial liabilities Other non current liabilities Provisions ( current & non-current) Cash generated from operations Income tax paid (net of refund) Net cash flow from operating activities (A) B. Cash flow from investing activities Capital expenditure on property, plant and equipment (including capital advances) Proceeds from sale of property, plant and equipment Proceeds from sale of investment in other company Proceeds from Disinvestment in subsidiaries (net) (Investment) in fixed deposits (net) (Investment) in other companies/mutual funds Interest received - fixed deposits - others Net cash flow (used in) investing activities (B) C. Cash flow from financing activities Proceeds from non-current borrow ings (Repayment) of non-current borrowings Proceeds from current borrowings (net) Payment of dividend Proceeds from issue of equity share capital Payment on account of lease liabilities Finance costs Net cash flow from/ (used in) financing activities (C) Net increase in cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Half year ended September 30, 2026 (Unaudited) 852.13 125 .30 (2.63) 91.34 (9.70) (46.58) 0.75 1.64 (1.12) (1.25) 19.10 (5.04) 1,023.94 (231.57) (26.29) (79.80) (1.86) (45.16) (0.41) 178.28 (52.53) (8.71) (2.09) 1.94 755.74 {161.85) 593.89 (425.08) 15.99 154.05 (280.28) (2.80) 33.06 12.39 (492.67) 23 .54 (96.27) 538.36 (236.01) (82.94) 146.68 247.90 644 .18 892.08 (Rupees in crores) Half year ended September 30, 2025 (Unaudited) 696.31 112.49 1.39 60.86 (34.45) (1.75) 0.16 1.24 (0.29) (1.13) 2.09 5.75 (4 .67) 838.00 (312.36) (15 .04) (21.62) (1.03) 26.03 (1.24) 130.94 65 .50 5.13 (5.57) 6.05 714.79 (114.74 ) 600.05 (311.49) 3.65 106.44 (217.95) (3.36) 26.77 1.24 (394.70) (94.20) 172.53 (159.64) 0.02 1.47 (57.37) (137.19) 68.16 368.80 436.96
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Notes to the Statement of Consolidated Unaudited Financial Results : 1. The above Consolidated Financial Results have been prepared In accordance with the recognition and measurement principles lald down In the Indian Acrountlng Standard 34 "Inte rim Financial Reporting" (' Ind AS 34"), prescribed under Section LJ3 or the Companies Act, 2013 read with relevant rules Issued thereunder and other accounting principles generally accepted In India and In accordance with the Regulation 33 and Regulation 52(4) of the SEBI (L.IStlng Obllgatlons and Dlsclosure Requirements) Regulations, 2015, as amended ("the Listing Regulation"), The above Consolidated Ananc!al Results for the Quarter and half year ended September 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held of October 26, 2026. 2. The Statutory Auditors have carried out the 'Limited Review' of the Unaudited Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026 In accordance with the Regulation 33 and Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, 3. Durfng the quarter ended June JO, 2026, APL Apollo Tubes Limited ("Company "/ "Holding Company"} ente,ed and executed a share purchase agreement for the sale or its entloe shareholding held In Its wholly owned subsidiary I.e. Blue Ocean Projects Private Umlted ('BOPL'), The total sale consideration agreed- under the share purchase agreement was Rupees 160.00 crores against the carrying amount or net assets or Rupees 150.30 crores. During the quarter ended September 30, 2026, the condit ions /or completion or the transact ion have been fulfilled . Accordingly, Property Plant & Equipment, Right or use assets and net current assets amount ing to Rupees 97.78 crores, Rupees 21.50 crores and Rupees 31.02 crores respectively have been de-recognized and gain or Rupees 9.70 crores has been recognized In the other Income. 4. During the wrrent quarter , Board or Apollo Metalelt Limited ('AML"), a subsidiary of the Company has granted approval for ratlonallsatlon ol Its manufacturing operat ions through phased consondatlon of product ion actlvlt les from Its A-25 manufacturing unit at Sikandrabad, Uttar Pradesh to other Group manufactur ing facilities and the consequential disposal of the land and building or the A-25 Unit, Accordingly, AML has entered Into a agreement for sale of land and building to third party In the current quarter . The conditions for completion or the transaction were not fully satisfied at quarter e_nd. Accordingly, land and building amounting to Rupees 15.59 crores have been dassified and preserited as held for sale as at September JO, 2026, In accordance with Ind AS 105, Non-current Assets Held for Sale and Discontinued Operations. No gain on sale of assets has been recognized In consolidated financial results for the quarter ended September 30, 2026. 5. Ourfn9 the quarter ended Sept-ember JO, 2025, the Holding Company completed the liquidation process of APL Apollo Mart Limited, a wholly owned subsidiary of the Company. An application seeking dlssolu\io n or the said subsidiary has been filed before the Hon'ble National Company Law Tribunal, New Delhi Bench. As at the date of these nnancial results, the order of dissolution Is awaited. The necessary accounting treatment and adjustments, wherever applicable, have been considered in the financial results in accordance with the applicable accounting standards. 6. The Group is in business of Manufacturing of ERW steel tube and pipes and hence only one reportable operating segment as per 'Ind-AS 108 : Operating Segments'. 7. Additional disclosure as per Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: Quarter ended Quarter ended Quarter ended Half year ended Half year ended Year ended Particulars UOM September 30, June 30, September 30, September 30, September 30, March 31, 2026 2026 2026 2025 2026 2025 Debt-equity ratio Times (0.28) (0.25) (0,74) (0.2 8) (0.74) (0.29) Debt service coverage ratio Times 6.05 5.01 4.87 7.35 5.28 5.79 Interest service coverage ratio · Times 10.54 10.05 15.00 10.33 12.44 13.42 Outstanding redeemable preference . N.A. N.A. N.A. N.A. N.A. N.A. shares (quantity and value) Capital redemption . N.A, N.A. N.A. N.A. N.A. N.A. reserve/debenture redemption ----·- Net worth Rupees in 5740.31 5579.01 4605.69 5740.31 4605.69 5296.53 crores Current Ratio Times 1.39 1.34 1.28 1.39 1.28 1.34 Long term debt to working capital Times 0.13 0.21 0.38 0.13 0.39 0.25 Bad debts to Account receivable % 0.00% 0.00% 0.36% 0.00% 0.90% 3.36% Current liability ratio % 85.32% 82.33% 81.61% 85.32% 81.61% 81.12% Total debts to total assets % 9.23% 4.59% 8.36% 9.23% 8.36% 5.12% Debtors' turnover (annualised) Times 76.94 71.73 75.94 69.19 75.68 74.69 Inventory turnover (annualised) Times 15.12 11.27 9.76 13.61 9.81 12.72 Operating margin percent % 8.25% 7.34% 8.59% 7.84% 7.89% 7.91% Net profit margin percent % 5.46% 4.69% 5.79% 5.12% 5.19% 5.21% Formulae for computation of above ratio are as follows :- Particulars Formulae Debt•equlty ratio Net Debt/ Total Equity, Net debt includes borrowings (long term and short term) net of cash & cash equivalents, bank balances and fixed deposits. Negative debt equity ratio represent excess of bank balances over total borrowing. Debt service coverage ratio Earnings .ivallable for debt service/ Debt service Earnings available for debt service includes profit before tax + finance costs + depreciation • other income Debt service includes finance costs paid and principal repayment of borrowings (long term and short term). Interest service coverage ratio (Profit before tax + lnterest) / Interest expenses Net worth Net Worth has been computed on the baSls as stated in Clause 2 of the Securities and Exchange Board of India (UStlng Obligations and Disclosure Requirements) Regulations, 2015 I.e. Net worth as defined ,n sub-section (57) of section 2 of the Companies Act, 2013. (Equity share capital and other equity) Current Ratio Current assets/ Current llabllltles Long term debt to working capital LOng term debt/ Net working capital Bad debts to Account receivable (Allowance for expected credit loss + Bad debt) / Trade receivables Current llabllltY ratio Current llabmties / (Non-current liabilities + Current liabilities) Total debts to tota l assets Total Debt/ (Non-current assets + Current assets) Debtors' turnover Total revenue from operations/ Average trade receivables Inven tory turnover (Cost or materials consumed + Purchase of stock-in-trade (traded goods) + Changes in inventories of finished goods, stock ,n trade, work-in-progress, rejection and scrap)/ Average inventory Operating margin percent Profit before tax + interest expenses + depreciation and amortlsat ron -other income/ Total revenue from operations Net profit margin percent Net profit after tax / Total revenu~m operations - n ~O" 'c!'VILJ/(~ Q.00 \,U /{/~~ For APL APOLLO TUBES LIMITED ~ 0 .,~~ ;;( ,....i; ~ ,. s: • • _J ~ <) 1/l '2-: _o Noida _.. $' OLLulJ~r Lb, LULb 1';,,~~ ,,,~- WHOLE TIME DIRECTOR ·l?~o Accou * --
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Walker Chandiok &.Co LLP Walker Chandiok & Co LLP Unit No. 02, Second Floor, BPTP Capital Cit!:J, Plot No - 2B, Sector-94, Noida, Gautam Buddha Nager - 201301 Utter Pradesh, India T +91120 485 5999 F +91120 485 5902 Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 and Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of APL Apollo Tubes Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results ('the Statement') of .APL Apollo Tubes Limited ('the Company') for the quarter ended 30 September 2026 and the year to date results for the period 01 ,-\pril 2026 to 30 September 2026, being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations') read with SEBI Master Circular SEBI/HO/DDHS / DDHS -PoD /P /CIR/2025/0000000137 dated 15 October 2025. 2. The Statement, which is the responsibility of the Company's management and approved by the Company'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'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 and Regulation 52( 4) 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 the Standards on Auditing specified under section 143(10) of the Act, 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. Chartered Accountants Offices in Ahmedabad, Bengoluru, Chandigarh, Chennai, Dehradun, Goa, Gurugram, Hyderabad, Indore, Jaipur, Kechi, Kolkato, Mumbai. New Delhi, Noida and Pune Welker Chandiok & Co LLP is registered with limited liobilit!;j with identification number AAC-2085 ond hos its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India
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Walker Chandiok &.Co LLP Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 and Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd) 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 Ind "-\S 34, prescribed under section 133 of the _-\ct, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 and Regulation 52(4) of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 ~ JA_~v ~~~ '.\le~1bc:rship >io. -02667 UDIN: 26502667CTRDJQ5886 Place: Naida Date: 26 Ocrnber 2026
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APL APOLLO TUBES LIMITED Regd. Office: 37, Hargobind Enclave, Vlkas Marg, Delhi - 110092 Statement of Standalone Financial Results for the quarter and half year ended September 30, 2026 ON : L74899Dll986PLC023443 Particulars Quarter ended September 30, 2026 (Unaudited) I Revenue from operations (a) Sale of products 4,540.64 (b) Other operating income 114.97 Total revenue from operations 4,655 .-61 II Other Income (Refer note 3) 39.78 III Total income (I +II) 4,695.39 IV Expenses (a) Cost of materials consumed 3,414.41 (b) Purchase of stock-in-trade (traded goods) 474.46 (c) Changes in inventories or Finished goods, stock in trade, work-in-progress, reJectlon and scrap 96.98 (dl Employee benerrts expense 52.42 [ e) finance costs 41.31 [f) Depreciation and amortisation expense 30.16 (g) Other expenses 231.27 Total expenses 4,341.01 V Profit before tax (III-IV) 354.38 VI Tax expense : (a) Current tax 99.96 (b) Income tax related to earlier years (1.29) (c) Deferred tax charge/ (credit) (9 .42! Total tax expense 89.25 VII Profit for the period / year (V-VI) 265.13 VIII Other Comprehensive Income Add / (less) : Items that will not be reclassified to profit or loss (a) Remeasurement of post employment benerrt obligation 0.48 (b) Income tax relating to above item Other Comprehensive Income for the period / year IX Total Comprehensive Income for the period / year (VIl+VIII) X Paid up Equity Share Capital (Face value of Rupees 2 each) XI Other equity XII Earnings per equity share (EPS) of Rupees 2 each # : (a) Basic [In Rupees) (b) Diluted (In Rupees) (0.12) 0.36 265.49 55.54 9.44 9.44 Quarter ended June 30, 2026 (Unaudited) 3,698.37 103.51 3,801.88 49.50 3,851.38 2,861.33 594.88 (123.31) 51.59 38.18 29.31 200.66 3,652.64 198.74 42.70 9.06 51,7 6 146 .98 0.48 (0.12) 0.36 147.34 55.54 5.29 5.29 Quarter ended September 30, 2025 (Unaudited) 3,419 .00 92.17 3,511.17 16.74 3,527 .91 2,505.34 705.11 (73.56) 41.90 25.83 31.01 149.85 3,385.48 142.43 35.72 0.47 36.19 106.24 0.04 (0.01) 0.03 106.27 55.53 3.83 3.83 Half year ended September 30, 2026 (Unaudited) 8,239 .01 218.48 8,457 ,49 89.28 8,546 .77 6,275.74 1,069.34 (26.33) 104.01 79.49 59.47 43L93 7,993,65 553.12 142 .66 (1.29) 10.36! 141.01 412.11 0.96 (0.24) 0.72 412 .83 55.54 14.84 14.83 (Rupees in crores, except EPSJ Half year ended September 30, 2025 (Unaudited) 6,687 .26 196.45 6,883.71 33.93 6,917 .64 4,914.54 1,185.53 13.55 87.36 53.12 58.13 306.54 6,618 .77 298.87 77.41 (0.83! 76.58 222.29 0.08 (0.02! 0.06 222.35 55.53 8.01 8.01 Year ended March 31, 2026 (Audited) 14,696 .81 413.13 15, 109.94 81.22 15,191.16 10,584 .92 2,654.16 119 .18 174.73 112.99 120.93 689.59 14,456 .50 734.66 181.51 1.69 4 .34 187 .54 547.12 1.75 (0 .44) 1.31 548.43 55.54 3,425.89 19.71 19.71 # EPS is not annualised for the quarter and half year ended September 30, 2026, quarter ended June 30, 2026 and quarter and half year ended September 30, 2025 .
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APL APOLLO TUBES LIMITED Regd. Office: 37, Hargobind Enclave, Vikas Marg, Delhi-110092 Statement of Standalone Assets and Liabilities as at September 30, 2026 CIN: L74899DL1986PLC023443 Particulars A. ASSETS (1) Non-current assets (a) Property plant and equipment (b) Capital work-in-progress (c) Investment property (d) Right of use assets (e) Goodwill (f) Other intangible assets (g) Investment in subsidiaries (Refer note 3 and 4) (h) Financial assets (i) Investments (ii) Loans (iii) Other financial assets (i) Non-current tax assets (net) (j) Other non-current assets Total non-current assets (2) Current assets (a) Inventories (b) Financial assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balances other than (ii) above (iv) Loans (v) Other financial assets (c) Other current assets Total current assets Assets classified as held for sale Total current assets Total Assets B. EQUITY AND LIABILITIES (1) ~ (i) Equity share capital (ii) Other equity Total equity (2) Non-current liabilities (a) Financial liabilities (i) Borrowings (b) Provisions (c) Deferred tax liabilities (net) (d) Other non-current liabilities Total non-current liabilities (3) Current liabilities (a) Financial liabilities (i) Borrowings (ii) Trade payables - total outstanding dues of micro enterprises and small enterprises - total outstanding dues of creditors other than micro enterprises and small enterprises (iii) Other financial liabilities (b) Other current liabilities (c) Provisions (d) Current tax liabilities (net) Total current liabilities Total Equity and Liabilities As at September 30, 2026 (Unaudited) 1,499.01 87 .72 62.51 84.93 137.50 0.98 1,582.11 26.28 132 .32 14.77 0.25 91.53 3,719.91 934.75 91.56 622.23 87.80 0.90 1,097.75 107.91 2,942.90 2,942.90 6,662.81 55.54 3,621.29 3,676.83 682.57 17.41 108.52 97.96 906.46 102.22 30.93 1,747.60 36.04 88.47 1.46 72.80 2,079.52 6,662.81 (Rupees in crores) As at March 31, 2026 (Audited) 1,464.48 78.90 62.51 84.70 137.50 1.33 1,561.15 23.48 195.08 13.75 0.25 59.25 3,682.38 860.54 112.11 547.31 179.85 0.50 593.27 58.03 2,351.61 1.65 2,353.26 6,035 .64 55.54 3,42 5.89 3,481.43 639.86 18.14 108.64 86 .66 853.30 0.40 16.65 1,503.41 32.74 117.54 1.46 28 .71 1,700.91 6,035 .64
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APL APOLLO TUBES LIMITED Regd. Office: 37, Hargobind Enclave, Vikas Marg, Delhi - 110092 Statement of Standalone Cash Flows for the half year ended September 30, 2026 CIN-L74899DL1986PLC023443 Particulars A. Cash flow from operating activities Profit before tax Adjustments for: Depreciation and amortisation expense Loss on sale of property, plant and equipment (net) Finance costs Interest income on fixed deposits Interest income on others Gain on sale of investment in subsidiary Share based expenses Provision for slow moving inventory of spares & consumables Bad debts written off Interest benefit on interest free loan Expected credit loss allowance (Gain) / loss on derivatives measured at fair value through profit & loss account Net unrealized foreign exchange (gain) / loss Export obligation deferred income amortisation Operating profit before working capital changes Changes in working capital: Adjustments for (increase)/ decrease in operating assets: Inventories Trade receivables Current loans and other financial assets Non-current loans and other financial assets Other current assets Other non-current assets Adjustments for increase/ (decrease) in operating liabillties: Trade payables Other current liabilities Other current financial liabilities Other non current liabilities Provisions ( current & non-current) Cash generated from/ (used in) operations Income tax paid (net of refund) Net cash flow from operating activities (A) B. Cash flow from investing activities Capital expenditure on property, plant and equipment (including capital advances) Proceeds from sale of property, plant and equipment Investment in other companies/mutual funds (Investment) / Proceeds of mutual funds (net) Loan received back from to subsidiary (net) Loan (given) to others Investment in subsidiaries Proceeds from Disinvestment in subsidiaries Investment in fixed deposits (net) Interest received - fixed deposits - others Net cash flow (used in) investing activities (B) C. Cash flow from financing activities Proceeds from non-current borrowings (Repayment) of non-current borrowings Proceeds from current borrowings (net) Payment of dividend Proceeds from issue of equity share capital Finance costs Net cash flow (used in) financing activities (C) Net increase in cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Half year ended September 30, 2026 (Unaudited) 553.12 59.47 0.02 79.49 (30.64) (6 .82) (9 . 70) 12.41 0 .86 (1.12) (1.25) (3 .09) 652.75 (75 .09) 21.80 4.52 (1.50) (49 .88) (0.11) 258.47 (29 .07) (1.77) (0 .00) 780.12 (97.03) 683.09 (128 .64) 8 .09 (0 .86) (1.98) 63.61 (0.86) (280.60) 269 .36 (405 .65) 25.61 6 .82 (445.10) 42.71 101.82 (236 .01) (71.59) (163.07) 74 .92 547 .31 622.23 (Rupees in crore) Half year ended September 30, 2025 (Unaudited) 298.87 58 .13 0.48 53.12 (18.75) (2.82) 3.85 0.76 0.16 2.09 (0.29) (1.13) (3.05) 391.42 (166.48) 15.52 17.03 (0.73) (26.93) (2.56) (13.39) 66.38 0.02 (3.72) 3.26 279.82 (71.48) 208.34 (79.41) 0.59 (3.64) (61.82) 17.18 20.21 3.67 (103.22) 109.94 (160.51) 172.74 (159.64) 0.02 (51.35) (88.80) 16.32 312.94 329.26
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Notes to the Statement of Standalone Unaudited Financial Results : 1. The above Standalone Financial Results have been prepared in accordance with the recognition an_d measurement principles laid down In the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 or the Companies Act, 20'13 read with relevant rules Issued thereunder and other accounting prlnc pies generally accepted In India and In accordance with the Regulation 33 and Regulat lo,n 52(4) of the SES! (Listing Obll gatlons and Dlsdos ure Requirements) Regulati ons, 20.15, as amended (" the Llstrng Regulat ion"). The above Standalone financial Results for the quarter and half year ended September 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held of October 26, 2026. 2. The Statutory Auditors have carried out the 'Limited Review' of the Unaudited Standalone Financial Results of the Company for the quarter and half year ended September 30, 2026 in accordance with the Regulation 33 and Regulation 52(4) of the SES! (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended . 3. During the quarter ended June 30, 2026, the APL Apollo Tubes Limit ed ('Company ') entered and executed a share purchase agreement for the sale of 1\5 enti re sharehold lng held In Its wholly owned subsidiary I.e. Blue Ocean Projects Private Limited (' BOPL ') . The total sale considerat ion agreed under the share purchase agreemen t was Rupees 160.00 crores against the carry ing amount of Investment of Rupees 150.30 crores. During the quarter ended September 30, 2026, the conditions for complet ion of the transaction have been fulOlled. Accordingly , Investment In subsidiary amoun ting to Rupees 150.30 crores have been recogni zed and consequently aain of Ruoees 9. 70 crones has been recoanlied in the other Income. 4. During the quarter ended September 30, 2026, Company completed the liquidation process of APL Apollo Mart Limited, a wholly owned subsidiary of the Company . An application seeking dissolution of the said subsidiary has been filed before the Hon'ble National Company Law Tribunal, New Delhi Bench. As at the date of these financial results, the order of dissolution is awaited. Accordingly, the Company has received amount of Rupees 109.36 crores on liquidation of APL Apollo Mart Limited . 5. The Company is in business of Manufacturing of ERW steel tube and pipes and hence only one reportable operating segment as per 'Ind-AS 108 : Operating Segments'. 6. Additional disclosure as per Regulation 52(4) of SES! (Listing Obligations and Disclosure Requirements) Regulations, 2015 : Quarter ended Quarter ended Quarter ended Half year ended Half year ended Year ended Particulars UOM September 30, June 30, September 30, September 30, September 30, March 31, 2026 2026 2026 2025 2026 2025 Debt-equity ratio Times (0.26) (0.16) 0.20 (0.26) 0.20 (0.14) Debt service coverage ratio Times 2.42 1.14 6.44 3.39 1.79 3.37 Interest service coverage ratio Times 9.58 6.20 6.51 7.96 6.63 7.50 Outstanding redeemable preference . N.A. N.A. N.A. N.A. N.A. N.A. shares (quantity and value) Capital redemption . N.A. N.A. N.A. N.A. N.A. N.A. reserve/debenture redemption reserve Net worth Rupees in 3676.83 3638.01 3155.34 3676.83 3155.34 3481.43 crores Current Ratio Times 1.42 1.31 1.23 1.42 1.23 1.38 Long term debt to working capital Times 0.79 1.15 1.61 0.79 1.61 0.98 Bad debts to Account receivable % 0.00% 0.00% 1.71% 0.00% 3.08% 5.27% ratio Current liability ratio % 69.64% 67.79% 67.34% 69.64% 67.34% 66.59% Total debts to total assets % 11.78% 12.20% 13.94% 11.78% 13.94% 10.61% Debtors' turnover (annualised) Times 182.88 139.96 156.53 166.11 161.11 149.71 Inventory turnover (annualised) Times 17.76 13.77 10.61 16.31 10.92 14.54 Operating margin percent % 8.29% 5.70% 5.73% 7.13% 5.74% 5.87% Net profit margin percent % 5.69% 3.87% 3.33% 4.87% 3.39% 3.62% Formulae for computation of above ratio are as follows :- Particulars Formulae Debt-equity ratio Net Debt/ Total Equity . Net debt includes borrowings (long term and short term) net of cash & cash equivalents, bank balances and fixed deposits . Negative debt equity ratio represent excess of bank balances over total borrowing . Debt service coverage ratio Earnings available for debt service/ Debt service Earnings available for debt service includes profit before tax + finance costs + depreciation • other income Debt service includes finance costs paid and principal repayment of borrowings (long term and short term). Interest service coverage ratio (Profit before tax + Interest) / Interest expenses Net worth Net Worth has been compute<l on the basis as stated In Clause 2 of the Securities and Exchange Board of lnd,a {Listing Obligations and Disclosure Requirements) Regulations, 2015 I.e. Net worth as defined In sub-section (57) of section 2 of the Companies Act, 2013. (Eautty share capital and other eQultvl Current Ratio Current assets/ Current llabll ltles Long term debt to working capita l Long term debt/ Net working capital Bad debts to Account receivable (Allowance for expected credit loss+ Bad debt)/ Trade receivables -•• Current liability ratio Current llabll lties / (Non-current liabilities+ Current llabllitl es) Total debts to total assets Total Debt/ (Non-current assets + Current assets) Debtors' turnover Total revenue from operations/ Average trade receivables Inventory turnover (Cost of mater ials consumed + Purchase of stock-in-trade (traded goods) + Changes in Inventories of finished goo~, stock in trade, work-in-progress, rejection and scrap)/ Average inventory Operating margin percent Profit before tax + interest expenses + depreciation and amortisation -other income/ Total revenue from operations Net profit margin percent Net profit after tax / Total revenue r,y.m opera~~s ~ D , .. ~•r..f' iro~-u.~) 0· ' c For APL APOLLO TUBES LIMITED ~ 0 ...., .- ~ ~ .... $ -,:, . ... Noida (1 "' ~ _o DEE KKU ,(.. !-- OclulJ~r 26, 2026 ·-ri,/:, ~.:;; WHOLE TIME RECTOR ~'l'fOACCo-J * --