Interim report
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WBest Affofirerim,,; 30th 0ctober,2026 National Stock Exchange of India Limited Exchange Plaza, C-1, Block-G, Bandra - Kurla Complex Bandra [E), Mumbai-40005 1 Scrip Code: 539660 Scrip ID: BESTAGRO sub: outcome of Board Meeting in accordance with sEBI (Listing obtigations andDisclosure Requirements) Regulitions, 2015, as amended Pursuant to Regulation 30 & 33 of the sEBI (Listing obligations and Disclosure Requirements)Regulations, 2075, as amended from time to time, pl-.rr. riote that the Board of Directors of thecompany in its meeting held today i.e. Friday, gOa october, idzehas considereoana approved thefollowing: 1' Considered and approved the un-Audited Financial Results (both consolidated andstandalone) for the Quarter and half-year ended 30u, Septem ber,2026 and Limited ReviewReport issued by M/s walker chandiok & co LLP, chartered Accountants, statutory Auditorof the Company. 2' considered and approved the proposal for grant of Employee stock options pursuant to BestAgrolife Employee stock option Scheme, z1z+ subyeci to obtaining of revised in-principalapproval from BSE Limited and National stock Exchange of India ii.it"d pursuant to thecorporate actions ofsub'division (stock split) and bonus issue of equity shares. The actualgrant of options shall be undertaken subsequently by the Nomination RemunerationCommittee upon receipt ofthe requisite "pp.or"l, andcompletion of applicable compliances. 3' To take note of change in designation of Mr. vikas fain from chief Financial officer to vicePresident- Business operations with immediate effect. consequent to this change Mr. vikas fain will cease to be a chief Financial officer and KeyManagerial Pers.onnel !lge. the provisions of companies Act, 2013 and under Regulation30(5) of the Listing obligationi and Disclosu." 'n.qui.ements) Regulations , zols fordetermining the materiality of any event or transaction for making the ;.qr;;d disclosuresto the Stock Exchange with immediate effect. Necessary inf.o,lTllo.n in respect of Mr. vikas fain as per SEBI circular No.clR/cFD/cMDl4!?llldated september g,zoll..ra *iti, Regulation 30 -para A of part A ofschedule III of sEBI (Listing Obligations and Disclosure Requirements) Regulations, 20L5, asamended from time to time is provided in Annexure-A. 4' Appointment of Mr. Sanjeev Bajaj as chief Financial officer of the company with immediateeffect. Necessary information in respect of Mr. Sanjeev Bajaj as per sEBI circular No.clR/CFD/CMD/4/2075 dated September 9, 2015 read with Regulation 30 -para A of part A of CIN : L74l 1 ODLI g92pLC1 1 6773 BSE Limited 25u Floor, p.I. Towers, Dalal Street, Mumbai-40000 1 @ negd. office & corporore office : B-4, Bhogwon Doss Nogor, Eost puniobi Bogh, New Derhi-l 10026 $ Phone' oll-45803300 | Fox: 0ll-45093518 @ info@besrogrolife.com lwww.besrogrolife.com , ffirye MAKE IN INDIA ! o lif6\ n(r.:
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schedule III of sEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, asamended from time to time is provided in AnnexureA. consequent to his appointmen! Mr. sanieev Bajaj shall also assume the office of KeyManagerial Personnel (as CFO) of the Company. 5' In terms of the Regulation 30(5) of (Listing obligations and Disclosure Requirements)Regulations,?}Ll,the following Key Managerial Personnel have been authorised by theBoard of Directors for the purpose of determining materiality of an event or information forthe purpose ofdisclosures to the stock exchange: Authority for determlnation: The following Key Managerial personnel of the company for thepurpose of determining materiality of an event or information: S. No. Name of the KMP Designation contact Details t Mr. Vimal Kumar Managing Director Address: B-4, Bhagwan Dass Nagar, East Punjabi Bagh, New Delhi-1LOOZ6 Email ID : info@bestagr,olife.cpm Phone No.: 011-45803300 2 Mr. Sanjeev Bajaj Chief Financial Officer Address: B-4, Bhagwan Dass Nagar; East Punjabi Bagh, New Delhi-1LOOZ6 Email ID: infg@,bestagrolife.gpm Phone No.: 011-45803300 Authority for disclosure: The following Key Managerial Personnel of the Company for thepurpose of disclosure of materiality of an event or information: S.No. Name of the KMP Designation Contact Details I Mr. Vimal Kumar Managing Director Address: B-4, Bhagwan Dass Nagar, East Punjabi Bagh, New Delhi-1L0OZ6 Email ID: info@bestagrolife.com Phone No.: 01 1-45803300 2 Mrs. Aarti Arora Company Secretary Compliance Officer Address: B-4, Bhagwan Dass Nagar, East Punjabi Bagh, New Delhi-1LOOZ6 Email ID: cs@bestagrglife.qom Phone No.: 01 1-45803300 / s$
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Further, pursuant to Regulation 33 of SEBI (Listing 0bligations and Disclosure Requirements)Regulations, 2075,we are enclosing herewith: 1. Press Release 2' Un-Audited Standalone Financial Results for the quarter and half-year ended on 30s September,2026 3' Un-Audited Consolidated Financial Results forthe quarter and half-year ended on 30u,september,2026 4' Limited Review Report on the un-Audited Financial Results - standalone and consolidated. TheaboveinformationwillbemadeavailableonthewebsiteoftheCompany@ The meeting of the Board of Directors commenced at 3:45 p.M and concluded at 6:00 p.M. Please take this information on record. fficer
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Annexure A Mr. Vikas Iain Reason for change viz. appointment, resignation, removal death or otherwise Change in Oesignation (On the recommendation of Nomination & Remuneration Committee the Board of Directors in its meeting held on October 30, 2026hadapproved change in Designation of Mr. Vikas fain from Chief Financial Officer to Vice President- Business Operations with immediate effect). Date of appeintme*V cessation-(al applicable) and term of appointment Mr. Vikas is a Chartered AccounEnt,-and Executive MBA from the Indian School of Business (lSB), with nearly two decades of experience, including stints at pwC and KPMG. During his l3-year tenure at Adama, part of the Syngenta Group, he served as CFO for 6.5 years, leading finance, strategy, tax, treasury legal, and IT functions. Disclosure of relationstrips bet*een Directors (in case of appointment of a Director) Mr. Sanieev Balaj s.N. Particulars Details 7 Reason for change viz. appointment, resignation, removal death or otherwise Appointment (On the recommendation of Nomination & Remuneration Committee the Board of Directors in its t o.l-!Je art (l) a. *
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meeting held on octou@ appointment of Mr. Sanjeev Bajaj as chief Financiar Officer of the Company with immeaiate effect). Date of iffitmenU €ess+tion (as applicable) and term of appointment 30/10/2026 Brief profile Mr' sanjeev Bajaj is a seas@ Chartered Accountant with nearly two decades ofextensive experience across financial reporting, groupconsolidation, controllership, audit rra rrluirn.J, finance transformation, and regulatory compliance. Hepossesses strong expertise in Ind AS reporting, internalcontrols, budgeting M&A accbunting, SAp transformation, and financial governance. Withsignificant experience in the agrochemical industry he has worked closely with business leaders to enhance financial reporting standards, strengthen internal control frameworks, improve operational efficiencies, and support strategic business objectives. Prior to joining Best Agrolife Limited, Mr. Bajaj spent over six years in Ieadership roles at pl Industries, one ofIndia's leading agro-sciences companies. During histenure, he developed a comprehensive understanding of the agrochemical value chain, manufacturing operations, regulatory requirements, and global business practices. His experience in the sector has equipped him with valuable insights into the financial and operational complexities of a dynamic, highly regulated industry. Earlier in his career, Mr. Bajaj spent nearly nine years with Price Waterhouse, where he led audit and assurance engagements for prominent listed Indian companies and multinational corporations. This experience provided him with a strong foundation in financial reporting, risk arr.rrrunt, regulatory compliance, and corporate governance. His diverse experience across professional services and corporate finance leadership enables him to combine technical expertise with a strategic business perspective. He brings a strong focus on financial discipline, robust governance, effective risk management, and collaborative business partnering, contributing to sustainable growth and long-term organisational value creation. /Y i( rb\
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Disclosure of relationships between Directors (in case of appointment of a Director)
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Best Agrolife Limited Delivers 45% Growth in Hl EBITDA; PAT Rises 6T% Amid challenging Market conditions New Delhi, october 30,2026: BestAgrotife Limited (BSE: 539660 | NSE: BESTAGRO), a teading lndian agrochemical company, reported a strong improvement in profitability for the secondquarter and half year ended September 30,2026, with signiflcant expansion in operating and netprofit margins despite a challenging Kharif season and subdued domestic crop protection demand. For Q2FY27, the Company reported EBITDA of 1101 crore, up 30% year-on-year, while profit after tax (PAT) increased 48o/oto {57 crore. For H1 FY27, EBITDA grew 41o/oto itZA crore, while PAT rose 670/o lo {98 crore. The improvement in profitability was accompanied by a significant expansion in margins. EBITDA margin increased to 250/o in Q2FY27 from 150/o in Q2FY26 and to 220/o in H1Fy27 trom 140/o in H 1 FY26' PAT margin expanded to 14o/o in Q2 FY27 and 12o/o in H1 Fy27, respectively, compared with 8% in Q2 FY26 andto/o in H1 Fy26. Revenue from operations stood at t407 crore in Q2FY27 and t803 crore in H1Fy27,reflecting year-on-year declines ol 21o/o and 11%, respectively. Performance was impacted by irregular monsoon rainfall, delayed sowing, lower crop protection demand in certain markets and heightened competitive intensity during the Kharif season. The Company also maintained cost discipline, with operating expenses excluding finance costs and depreciation declining 12o/o year-on-year in e2Fy27 and so/o in H1FY2T. Financial Performance at a Gtance ffi Key perFormance indicators ATZFVZZ AZfV |slllfl[Fl}ii%.l!tt.+iIlti|eos|8981.i{i.il.re Gross Margin Gross Margin % EBITDA Margin EBITDA Margin %
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Commenting on the performance, Mr. Vimal Kumar, Managing Director, Best Agrolife Limited, said, "Q2FY27 was a challenging quarter for the domestic crop protection industry. lrregularmonsoon rainfall delayed and uneven sowing, moisture stress and limited irrigation availability across several agricultural regions affected crop establishment and the timing of crop protection applications. These factors, coupled with cautious farmer spending and heightened competitive intensity, created significant headwinds for the business. Despite these challenges, we delivered a strong improvement in profitability, with EBITDAgrowing 30% in Q2FY27 and 45o/o in H1FY27. An important contributor to our margin expansion has been our strategic shift over the past two years towards a stronger patented product portfolio, complemented by our continued focus on cost discipline and operational efficiency. We intend tobuild on this progress by further strengthening our patented portfolio, with innovation and intellectual property at the core of our long-term growth strategy. We had made a higher provision for sales returns in anticipation of the impact of the irregular monsoon. However, we are pleased to see that the sales return percentage has also declined this year, with sales returns in H1 Fy27 lower than in H1 Fy26 During the period, we secured a patent grant for the combination of Fluxametamide, Abamectin and Trifloxystrobin and advanced our international business through a 47-metric-tonne shipment to Sudan, registration of our patented product Ronfen in Nepal, and registration of Lambda technical in Mexico. With four additional products submitted for registration in Nepal, we continue to pursue opportunities to expand our international presence and broaden our grovyth platform. As we enter the second half of FY27, the domestic outlook will depend on the progress of Rabi sowing, soil moisture conditions, irrigation availability and farmers' investment in crop protection. Our priorities remain strengthening domestic market execution, expanding our patented portfolio and pursuing international grovtrth opportunities. \Mrile market conditions remain uncertain, we will continue to focus on innovation, operational discipline and sustainable, profitable growth over the long term," About Best Agrolife Limited BestAgrolife Limited is an R&D based lndian agrochemicalcompany engaged in the development, manufacturing and marketing of crop protection solutions. The Company focuses on innovation, product development, and market expansion to address evolving agricultural requirements across domestic and international markets. B
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Walker Chandiok & Co LLP Walker Chandiok & Co LLP Unit 502, Sth Floor, Horizon Tower, Jewel of India Jawahar Lal Nehru Marg (Opp Jaipur Stock Exchange) Jaipur - 302017 T. +91 141 350 5806 Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Best Agrolife Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results (the Statement’) of Best Agrolife Limited (‘the Company’) for the quarter ended 30 September 2026 and the year to date results for the period 01 April 2026 to 30 September 2026, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations’) 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 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. 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 AS 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 of the Listing Régulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. & 0 Chararsd Acecians Walker Chandiok & Co L i egitered with DA it ity with dentication namber AAC fices i Armcbad,Bongekr, Chandige,Chenns, D, Gos, Gurgrm Hydarsbed, ke, e, Kc, Kol 2085 and hs s registered offce s L41, Wumbai, Now Dok, Noida and Pune Connaught Circus, Outer Citcle, New D, 110001, India
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Walker Chandiok & Co LLP 5. We draw attention to note 5 to the accompanying Statement relating to a search and seizure operation carried out by the Income Tax Department (‘the department’) during the year ended 31 March 2024, at the head office of the Company along with other premises of the Company, its subsidiaries and residence of certain Key Managerial Persons (KMP) from 26 September 2023 to 30 September 2023 under Section 132 of the Income Tax Act, 1961, During the previous year, the Company has received a demand order for assessment year (AY) 2021-22 against which the management has filed a rectification request with the appropriate authority. During the previous year, the Company has also recelved notice for reassessment of income for AY 2018-19 to AY 2020-21. However, the Company is yet to receive any order on the findings of such investigation by the relevant authorities for these assessment years. Accordingly, the impact of this matter on the Statement for the quarter ended 30 September 2026 and year to date for the period 01 April 2026 to 30 September 2026 and the adjustments, if any required to the accompanying Statement, is presently not ascertainable. Our conclusion is not modified in respect of this matter. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 Sunil Shafma Partner Membership No.: 411446 UDIN: 26411446ENDQMU3045 Place: Jaipur Date: 30 October 2026 Chartered Accountants
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Best Agrolife Limited clN - 1741 10DL1992PLC1 16773 Registered and Corporate Office: B-4, Bhagwan Dass Nagar, East Punjabi Bagh, New Delhi-1 10026, Phone No: 01 1-45803300, Email - info@bestagrolife.com, Website- www.bestagrolife.com Notes: Amount in ( crores 1. Standalone Balance sheet as at 30 September 2026 30 September 2026 (Unaudited) 31 March 2026 (Audited) l. Assets 1 Non-current assets Property, plant and equipment Right-of-use assets Capital work-in-progress lntangible assets Financial assets (i) lnvestments (ii) Other financial assets Deferred tax assets (net) Other non-current assets Total non-current assets Current assets lnventories Financial assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balances other than (ii) above (iv) Loans (v) Other financial assets Other cunent assets Total current assets 19.26 18.70 0.08 121.50 0.76 6.23 14.54 18.98 13.99 0.77 0.09 121.50 0.58 6.01 't4.56 181.07 176.48 275.33 405.53 13.69 36.70 103.20 0.30 27.81 255.02 272.79 25.31 41.U 99.58 0.39 30.81 862.56 725.24 Total assets t,043.63 901.72 ll. Equity and liabilities 1 Equity Equity share capital Other equity Money received against share wanants Total equity 2 Liabilities Non-curent liabilities Financial liabilities (i) Borrowings (ii) Lease liabilities Provisions Total non-current liabilities Current liabllities Financial liabilities (i) Bonowings (ii) Lease liabilities (iii) Trade payables Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises (iv) Other financial liabilities Other current liabilities Provisions Cunent tax liabilities (net) Total current liabilities 35.47 499.52 35.47 396.10 37.50 s34.99 469.07 36.32 3.59 6.13 3.21 1.07 5.65 46.04 9.93 177.96 3.90 1.26 187.49 36.41 19.39 1.33 3486 198.61 2.12 0.50 152.35 26.07 30.40 1.33 11.U 462.60 422.72 Total equity and liabilities 1,043.63 901.72
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Best Agrolife Llmlted ctN - 174't 10DL1992PLC116773 Registered and Corporate Office: B-4, Bhagwan Dass Nagar, East Punjabi Bagh, New Delhi-'l 10026, Phone No: 0"1 1-45803300, Email - info@bestagrolife.com, Website- www.bestagrolife.com Amount In ? crores 2. Standalone Statement of Cash flow for the year to date 30 Sepember 2026 Particulars sH montha ended 30 September 2026 lt-lnaudltadl Slx months ended 30 September 2025 Illnaudltadl Cash flow from operatlng actlvltles Proflt before tax Adlustmenls for: Depreciation and amortisation Profit on sale of property, plant and equipment Unrealised foreign exchange loss (net) Provision for expected credit loss Finance costs Gain on cancellation of lease lnterest income Operatlng profit before worklng capltal changes Adlustments for movement ln: lnventories Trade receivables Financial assets Other assets Trade payables Other financial liabilities Other liabilities Provisions Cash generated (used ln)ffrom operatlons before tax lncome tax oaid (net) 93.09 3.17 (0.05) 0.29 15.3't (0.57) (7.84) 77.94 3.04 4.29 6.50 15.23 (0.06) (4.37) 103.40 (20.31) (132.74) (0.18) 3.00 35.61 10.35 (14.s6) 1.05 102.61 31.85 (218.80) (0.0e) 41.71 64.58 (0.71) (20.s1) 1.05 (14.38) (0,88t 1.69 (1.91 Net cash used ln operatinq activities (A) ('t5. lo.2i Gash flow from lnvestlng activltles Purchase of property, plant and equipment Proceeds from sale of property, plant and equipment Loan to subsidiary Repayments received from loan given to subsidiary lnvestments in deposits with banks lnvestments in deposits redeemed lnterest received (1.64) 0.08 (58.47]; 54.85 (3.60) 8.24 7.93 (0 04) (6.17) 8.27 (e.8e) 25.45 424 Net cash qenerated from investinq activltles (B) 7.39 21.90 Cash flow from financing actlvltles Proceeds from non-current borrowings Repayment of non-current borrowings Repayment of current borrowings (net) Payment for principal portion of lease liabilities Payment for interest portion of lease liabilities Finance costs c. 36.97 (0.86) (23.66) (0.8e) (0.24) (15.07) to.zgt (20.58) (0.12) (0.23) (15.001 Net cash used ln flnancino activities (C) (3.75) 136.221 Net decrease ln cash and cash equlvalentrs (A+B+C) Cash and cash equivalents at the beqinnino of the oeriod (11.62) 25.31 (14.54) 24 57 Gelt And cash equivalents at the end of the perlod 13.69 10.03 B. ls$
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Ctl 5 gigfigfigEI ='a E q Er, eF I H g3 il B f,i3e { I6'9. g X ilE dS +EE *:E3s5T BE E3P ;;=E:-3 33 +;* tgqFE+ 36 i}f; trE a;$sg ss'aEtEgsEiiffi;*[Eqm3 t-O =: 3 :S eqx9i=5: ,fr ;:' o { d H As a=ZIE$il€ H ig ; i E i ai ags*ggfli i at iq s B .i$ ti*iEr5g € a4 6q I ; ?fr H;B;RtsE * e.? a .d s = [e rnelEg;$ g Ei g 6g : $ e-E s-lt;d rglrlgiggrgggg-gg; 1+ \ E 3, Fuo) F l P8 =,8 S-'- .' r { ** 36 E E= BY I Hg E8 i
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Walker Chandiok &Co LLP Walker Chandlok & Co LLP Unit 502, 5th Floor, Horizon Tower, Jewel of India Jawahar Lal Nehru Marg (Opp Jalpur Stock Exchange) Jalpur - 302017 T. 491 141 350 5806 Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Best Agrolife Limited 18 We have reviewed the accompanying statement of unaudited consolidated financial results (the Statement’) of Best Agrolife Limited (‘the Holding Company’) and its subsidiaries (the Holding Company and its subsidiaries together referred to as ‘the Group’), (refer Annexure 1 for the list of subsidiaries, 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 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (‘Listing Regulations’). 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 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 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, We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable. Charires ecomnlants Walker Chandiok & Co LP 8 rvgistared with Tt Uabilty with dontfigation number AC: Offces in e, By, Chanvigar, Chorvi, Devadun, Goa, Gurugram, Hydorabad, ndoro, Jpu, Koch, Kokal, 2085 and has t registered officy at LAY, Moo, New Dob, Noida a0d Pune Connavght s, Outar Crcle, New Dulbl, 110001, India
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Walker Chandiok &Co LLP 4. Based on our review conducted and procedures performed as stated in paragraph 3 above and upon consideration of the review reports of the branch auditors and 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 the recognition and measurement principles laid down in Ind AS 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 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We draw attention to Note 6 to the accompanying Statement relating to a search and seizure operation carried out by the Income Tax Department (‘the Department’) during the year ended 31 March 2024, at the head office of the Holding Company along with other premises of the Holding Company, its 2 subsidiaries and residence of certain Key Managerial Persons (KMP) from 26 September 2023 to 30 September 2023 under Section 132 of the Income Tax Act, 1961. Pursuant to this, assessment orders have been received for certain assessment years by the Holding Company and its subsidiaries, including both favourable orders and demand orders, against which the management has filed appeals and/or rectification applications. Further, reassessment notices have been received for certain earlier assessment years by the Holding Company and one of the subsidiaries and the proceedings are yet to be concluded. Accordingly, the impact of this matter on the Statement for the quarter ended 30 September 2026 and year to date for the period 01 April 2026 to 30 September 2026 and the adjustments (if any) required to the accompanying Statement, is presently not ascertainable with respect to assessment years for which no order has been received from the Department. Our opinion is not modified in respect of this matter. The above matter in relation to search and seizure and related proceedings pertaining to subsidiary has also been reported in the review report dated 30 September 2026 issued by other firm of chartered accountants on the financial statement of the subsidiary for the quarter ended 30 September 2026. 6. We did not review the results of 4 subsidiaries included in the Statement whose financial information reflects total assets of 843.06 crores as at 30 September 2026, total revenues of 3277.28 crores and ¥ 584.12, total net profit after tax of Z 17.25 crores and ¥ 18.61 crores, total comprehensive income of Z 17.39 crores and Z 18.89 crores, for the quarter and year-to-date period ended on 30 September 2026, respectively, and net cash inflows of ¥ 0.74 for the period ended 30 September 2026, as considered in the Statement These interim financial results have been reviewed by other auditors whose review reports have 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 these subsidiaries is based solely on the review reports of such other auditors and the procedures performed by us as stated in paragraph 3 above. Further, of these subsidiaries 1 subsidiary, is located outside India, whose interim financial results have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors under generally accepted auditing/review standards applicable in their respective countries. The Holding Company’s management has converted the financial results of such subsidiary from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Holding Company's management Our conclusion is not modified in respect of this matter with respect to our reliance on the work done by and the reports of the other auditors, Chartered Accountants
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Walker Chandiok & Co LLP 7. The Statement includes the interim financial results of one subsidiary which has not been reviewed by their auditors, whose interim financial results reflect total assets of Z 1.17 crores as at 30 September 2026, and total revenues of 0.00 crores and Z 0.00 crores, net loss after tax of Z 0.04 crores and % 0.13 crores, total comprehensive loss of 20.04 crores and ¥ 0.13 crores for the quarter and year-to-date period ended 30 September 2026 respectively, net cash inflows of 0.06 crores for the period ended 30 September 2026 as considered in the Statement. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the subsidiary, are based solely on such unreviewed interim financial results. According to the information and explanations given to us by the management, these interim financial results are not material to the Group. Our conclusion is not modified in respect of this matter with respect to our reliance on the financial statements/ information/ results certified by the Board of Directors. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration{No: 001076N/N500013 Partner o Membership No. 411446’ UDIN: 26411446ZIBSCC3873 Place: Jaipur Date: 30 October 2026 Chartered Accountants
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Sloien i coip Walker Chandiok &Co LLP Independent Auditor’s Review Report on Consolidated Unaudited Quarter!y Financial Results and Year to Date Results of the Gompany pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) Annexure 1 List of entities included in the Statement Name of the Holding Company Best Agrolife Limited Name of Subsidiaries/ Step down subsidiaries Seedlings India Private Limited Best Crop Science Private Limited Best Agrolife Global Sudarshan Farm Chemicals India Private Limited M/s Kashmir Chemicals Best Agrolife (Shanghai) Co. Limited Chartered Accountants
Page 19
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Page 20
Best Agrolife Limited ctN - 1741 1oDLl 992PLCI 16773 Registered and Corporate Office: B-4, Bhagwan Dass Nagar, East Punjabi Bagh, New Delhi-1 10026, Phone No: 0'l 1-45803300, Email info@bestagrolife.com Website- www.bestagrolife.com Notes: Amount in ? crores 1. Consolidated Balance sheet as at 30 September 2026 Particulars 30 September 2026 (Unaudited) 3l March 2026 (Audited) Assets 1 Non-current assets Property, plant and equipment Right-of-use assets Capital work-in-progress Goodwill lntangible assets lntangible assets under development (i) lnvestments (i) Other financial assets Defened tax assets (net) Other non-current assets Total non-current asagts Current assets lnventories Financial assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balances other than (ii) above (iv) Otherfinancial assets Other current assets Total current assets 148.73 72.18 0.23 68.96 50.61 0.17 0.96 2.56 7.41 14.41 156.97 70.66 1.00 68.96 54.48 0.17 0.96 1.92 5.03 14.43 366.22 374.58 786.40 612.76 24.05 59.44 0.99 107.56 6s0.86 489.98 34.49 63.40 '1.54 71.56 1,591.20 1,311.83 Total assets 1,957.42 1,686.41 Equity and liabilities 1 Equity Equity share capital Other equity Money received against share warrants Total equity 2 Liabilities Non - current liabilities Financial liabilities (i) Borrowings (ii) Lease liabilities Deferred tax liabilities (net) Provisions Total non-current liabilities Current liabilities Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payables Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises (iv) Otherfinancial liabilities Other current liabilities Provisions Current tax liabilities (net) Total current liabilities /F ;/arl fdg \ 1\ Ya 35.47 828.-52 35.47 695.80 37.50 863.99 768.77 73.28 6.54 21.38 10.33 26.73 6.27 17.29 8.70 111.53 58.99 382.29 4.26 1.26 423.28 54.03 70.21 1.90 44.67 406.12 3.30 o.62 318.30 42.92 69.28 2.56 15.55 981.90 858.65 Total equity and liabilities \ca \ / q.l 1,957.42 1,686.41 \; _/
Page 21
Best Agrolife Limited ctN - 1741 10D11992P1C116773 Registered and Corporate Office: B-4, Bhagwan Dass Nagar, East Punjabi Bagh, New Delhi-110026, Phone No: 01i- ou'oii3k'LJffi H"",i;,.x.;':::[n*' Amount in t crores 2. consolidated statement of cash flow for the year to date 30 september 2026 Particulars Six months ended 30 September 2026 (Unaudited) Six months ended 30 September 2025 (Unaudited) Cash flow from operating activities Profit before tax Adjustments for: Depreciation and amortisation Profit on sale of property, plant and equipment Unrealised foreign exchange loss (net) Provision for expected credit loss Finance costs Gain on cancellation of lease lnterest income Operating profit before working capital changes Adjustments for movement in: lnventories Trade receivables Financialassets Other assets Trade payables Other fi nancial liabilities Other liabilities Provisions Gash generated (used in)/from operations before tax lncome tax paid (net) A. 132.33 19.50 (0.05) 3.83 3.50 29.66 (1.14) (1.95) 78.14 20.84 7.55 8.50 26.54 (0.06) (1.90) 185.68 (135.54) (126.28) (0.18) (36.00) 101.81 7.57 0.93 2.00 139.61 106.83 (227.79) 0.03 51.66 3.71 2.62 (3s.e3) 1.65 (0.01) (3.62) 42.39 (4.42 Net cagh generated (used in)/from operatinq activities (A) (3.63) 37.97 Cash flow from investing activities Purchase of property, plant and equipment Proceeds from sale of property, plant and equipement lnvestments in deposits with banks lnvestments in deposits redeemed lnterest received B. (4.76) 0.08 (3.60) 7.56 2.O4 (1.90 (37.83 52.15 1.80 Net cash generated from investing activities (B) 1.32 14.22 Cash flow from financing activities Proceeds from non-current borrowings Repayment of non-cunent borrowings Repayment of current borrowings (net) Payment of principal portion lease liabilities Payment of lnterest portion lease liabilities Finance costs c. 61.47 (11.65) (27.10) (0.52) (0.54) (29.66) (2.02 (39.63 (0.48 (0.64 (25.90 Net cash used in financinq activities (C) (8.00 (68.67) Net decrease ln cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the period Effects ofexchange rate chanqes on cash and cash eouivalents ({0.311 34.49 (0.13 (16.48) 32.81 Cash and cash equivalelts at the end of the period 24.0s 16.33
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5 6 Best Agrollfe Llmlted crN - 1741 100L1992PLCl 16773 RegislerBd and Corporate Offce: B-4, Bhagwan Dass Nagar, East Punjabi Bagh, New Delhi-1 10026, Phone No: 01 1.45803300, Email - info@bestagrolif6.com, Website- ww\w.bestagrolife.com The above consolidated fnancial results of Bes{ Agrolife Limited ('the Holding Company') and its subsidiaries (collectively known as 'the Group') are propaBd in accordance with the requirem€nts of the IND AS 110 'Consolidated financial statements'. The above consolidated financial results were reviewed by the Audit Committee and approved by the Board of Dir€cto6 at their meeting held on 30 October 2026. Further, the limited review of unaudited consolidated financial results for the six months and quarter snded 30 September 2026, in terms of Regulation 33 of SEBI (Listing ObligationE & Disolosure Requirements) Regulations, 201 5, has be€n cari€d out by the statutory auditoE of the Holding Company. As per lndian Accounting Standad (lnd AS) 108 "Op€rating Segmerrt", the Group's businoss falls within a single business segment viz. 'Agro chemical products". During the year ended 31 March 2024, lne lncom€ Tax Department (lhe Oepartmenf) has conducted a search and soizur€ operation at th€ head office of the Holding Company, along with other premises of the Holding Company, its two Wholly Owrud Subsidiary Companies and residence of certain KMPS from 26 September 2023 to 30 September 2023 under S€ction 1 32 of the lncomo Tax Act, 1961. List of assets seized by the ar.fthorities included of loose documents, hard drives, laptops etc. The Group has provided n€cessary support, co-operation and documents as requested by the Departmont during the search and seizure operation. During the previous year ended 31 March 2025, the Holding Company and Seedlings lndia Private Limited (Subsidiary 2) had rBceived an order ds 143(3) ofthe lncome Tax Act with respect to Assessment Year ( Y) 2025-24, wherB no addition had been made to th6 income submitted by the Holding Company and Subsidiary I on account of the aforementioned search conducted. However, Best Crop Science Private Limited (Subsidlary 1 ) had received demand orderimounting to INR 6 crorBs tor Ay 2OZ3-Z4, in r€spect of disallowances of certain expenses and addition of certain incomes. The management of the Company has evaluated the demand orders and after considering all the available records and information known to it, Subsidiary 'l had filed an appeal before Hon'ble Commissioner of lncome Tax (ClT), Appeals against the aforesaid demand orders was dismissed by CIT Appeals against which the management has filed appeal in lncome Tax Appeltate Tribunal. Ouring the previous year ended 31 March 2026, the Holding Company receivod favourable order for AY 2022-23 and AY 202+25 as no addition has been made br such AYs and a demand order br AY 2021-22 amounting to INR 0.95 crores in respect of disallowances of certain expens€s, against which the management filed a rectification order with the Dopartm€nt. Subsidiary t has r€c€ivsd a demand order for AY 2021-22, AY 2022-23 and AY 2024-25 in r€spect of disallowances of certain expenses and addition of certain incomes, against which the management filed an appeal/ rectification order with the D€partment. Subsidiary 2 has roceived a hvourable order br Ay 2021. 22 aN AY 2024'25 as no addition has been made for such AYs and a demand order for AY 2022-23 amounting INR 0.89 crorEs in respect of addition of certain incomes. The Holding Company has received notice for reassessment of income for AY 201 8-1 I to AY 2O2O-21 and Subsidiary 1 recolved notice br rBassessment of income fur Ay 2017-181c AY 2020-21. Furthermore, the Holding Company and its subsidiary companies have not received any order on the findings of such investigation by the lncome tax department till date for any other assessment years oth€r than as merrtioned abovs. While the uncertainty exists r€garding the outcome ofthe search and seizure canied out by the Department and aforesaid assessment pmc€edings, th€ management had obtained views of an extemal expert in relation to its tax position on the aforesaid matters and after considering all available information and hcts as ;f date, the management has not identified the need br any ad.iustments ln the consolidated financial rBsults. The Board of Directors of the Holding Company have tBcommended a dividend of INR O.1O per equity share of INR 1/- each for the financial year ended 31 March 2026, the same has been approved by the sharBhold€r ofthe Holding Company by way of ordinary rcsolution dated 29 S€ptember 2026. The abov€ results atE also available on the Company's website http:/ ,vww.bestagrolif6.com and on the wobsite of BSE Limited www.bs€india.com and National Stock ExcharEe Limited (www.ns€india.com). For and on behalf of th€ Board of Directors oI Bost Agrollfa Llmlted )--- I Vlmal Kumar ManagirE Director DIN:01260082 Place: New Delhi Date: 30 October 2026