Interim report
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r $ Head, IIIDUIIRIEX LID .V. Fload, Borivali (West), lVlumbai - 400092.Otfice : 301, Aura Biplex, Premium Retail Premise$, 7, S E-mail r compliance@sudarshanpharma,com . tlleLsite: www.sudarshanpharma,com 3oar$Lins: +91-22-42221111 143831111 142221116 {10S line)o Qlp : 151496MH2008P1C184997 sPr L/cs/sE/2026-2027 /7 1 To, The Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400-001 BSE Scrip Code: 543828 Date: 29th October 2026 The Listing Department National Stock Exchange of lndia Limited Exchange Plaza, C-1,, Block G, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 NSE Trading Symbol: SUDARSHAN ijiii i,:,, :1 - Ref: Sub: Regulation 33 of SEB! (Listing Obligations And Disclosure Requirements) Regutations , ZOL1 Outcome of the Meeting of Board of Directors of the Company held on Thursday, 29th October,2026 Dear Sir / Madam, Pursuant to Regulation 33 of the SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015, we are submitting herewith Unaudited Standalone & Consolidated Financial Results for the quarter and half year ended on 30th September, 2026 as approved by the Board of Directors of the Company along-with Auditors' Limited Review Report at its meeting held today. The meeting of the Board of Directors commenced at 7.00 pm and concluded at 10.00 pm. We request you to kindly take the above information on record. Thanks & Regards, Yours faithfully, For Sudarshan Pharma lndustries Limited M*L Compiny Secretary & Compliance Officer Regd. Off. : 301, Aura Biplex, Above Kalyan Jewellers, $.V, Rcad, Borivali (West), lvlumbai - 400092 .;
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$I}I}AH$H*il FHfiTIIII* IItI$t'$Yffi E$ LYil} Fl**rt0flretl .''. i,'r: ' :: '"'.": i '. E"nraii . j.'r.":::.'r:"r,:,1 s -,:,1'!i'r i':i,l .:I.':.: r:jrlr' WebSile:;,,i.:,t..ri::'::l,i1l:r'-1:ia':l.i;'::'i I--:: ; ;-'^r -i- -:;-': :i:--.-'':::--": - l l i.r: : ;5 -r-':i :l :;-:: : " :-*'L:-:': ;i' S'I-,{TEIvIE}IT {fF ST,tu\DALOi.iE L}iALiDITE* FIN.{NCL4.L RESI,iLT-c FoR THE QUAI{TER AliD SIX }IONTIIS ENTED 30TH SEPTHN,IBER, 2026 In Sr. No. Particulars Qtrarter ended Year Endeti Sept 30, 2026 Sepr 30. 2025 .l nne 30" 2025 Sept 3Q 2026 Sepl 3Q 2025 lvlarch 31, 2026 Unaudited Unaridited Lnaudited Unauriited Unaudited Audited Incomq Rel.errre {rm cperaiiols Other ilr:cme ?c.5s1.8r'r 7*+.17 r6.70S.63 ?89.X 16.S6.03 135.38 37,G67.83 1i9.;5 3rJ,931.74 350.ir9 66,7,19.85 840.44 A Total in.:orne 2*,686.17 16,90?.E6 15.7{11.4t 37.3.87.54 57.59A.29 Expense: Cost ol material coremed Purchase of stock-in-trade Chmgs in invmloris o{ {inishtd gwds, stock-ia- trade and wods-ifl-1:rc9:s Emplcyee benelit expenre Fimrce cost Deprer-iation md mo*istia11 exlErc Otherexpeffi 157.58 19J75.06 {?-1&1-:9i t78.85 1,*:.I.{;: 126.46 1,m4.53 65.93 77,776.01 €,157,10) 139.95 {€.88 sr].68 tr]5nt '107.25 15.879.80 {1,868.1s} 172.8? s1c.4d 1?9.1? 647.29 264.83 35,051.87 13,97t.111 351.74 1,854.G8 255.58 1d71.8? 31,061.58 {3,369.58) ?66.20 1,178.18 '159.66 u7.6? 2L)7.68 65,599.01 17,063.44) 678.97 2,529.74 340.65 2,i1,OO.A7 B Total expenses 19.592.82 76,4?7.35 13,&87.66 35_41tO.48 30.280_53 64.723.48 C Prcfi{(Loss) before exceptional items atd ts for the period (A-B) l--rr epiional llenr< '1,093.35 482.5.I 813.75 1,907.10 1,001,90 2,E66.E2 Profit lrefore lax 'l -{,s3.35 .18?.51 813.75 1,N7;10 1 _001_39 2_966"8: E {a) (t) Taa?ene Cu[ent tax ilpferpd tax 3oll.?f i.1r.l8l 1 16.61 {;-.}.161 217.95 18.38) 578.17 ia.7b) 233.b5 145.O8) 683.92 (15.27\ F Total tax expense iD-Ei 31 3.84 1?47 209.57 523-41 't 88.57 666.65 C Nel orofit for the rerioril vear iD-Fii 779-51 4140.03 60413 1_38i_69 sl 3.33 2"198.1 6 H Other comprehenaive income, aet of iacooe tax i) itffi Lhdt will not be rq l*ureci to ;,rotrt or lm ii) irco&e tffi relaring to iteEs il]at will r*tlre reclmsilied fo r:rofif or lms *.51 {0.13} i1.16i B"?9 0.51 {0.r3} 1.$2 (0.26) (2.:32) 0.5!l 2.M (0.5r ) 1-otal other comprehensive income, net of incorne tax 0.3s (0.87i 0.38 0.76 11.74) 1.53 I Total complehercive income fsr fhe perisdl year Paid up equita share cpital : $ace valne iNR 1 each) Other erraity w9"89 ?F,14.?r 439.16 2J0{:.59 604.56 2,.1!.16.5!r 1,384.45 ?,544.71 al1 <o 2,406.59 z;199.69 2,406.59 72.863.921 K Earninga pershare {in RsJ Frcm Cortiruing operation* Basic EPS: {in INR) Diluted EIi9 : {in INR) {Re{s rere 11) s.3? a32 t].1.q a).18 0.25 0.?5 0.16 0.56 0.34 0.33 0.91 0.90 xltt xlv XV Debt Equity Ratio Debt Service C*varage,Rati* lntercst CoYffa*e R.alio ?.93 '1.6& ?.06 1.65 2.{t! ?.03 1.66 ?.03 1.84 1.51 2.75 For Hemal Mehta (i\'Ianaging DIN:0221112t Place : Mumbai Date 129-1fr-2t26 Pharara Iadrsfies Llnited lu{l-ii,t'*P'l 9{ Ur Resd. Gff.: 301, Aura Biplex. Abcr;e Kalvan .Ier.ve[1ers, S V Road, Bogivali (West),li1lumbai 4{}00q2 r)i tli: a
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Notes to Staldalone Financial results: 1 The Financial statements has been reviewed a.d recommended by Members of the Aurlit Committee and approved by the Boarcl of Directors at tlreir respective meeti.gs hdld on october 29,2026.The statatory a*ditars have iss*ed an unmodifieci report on these results' This statement has been prepared in accordance with the Companies {indian Acc{}Irnting standarcl) Ruies, 2015 (Ind AS) prescribed *nder section 133 of the Companies Act,2013 and rtfes amended from time to time' 2 The Company is engaged in manufacturing of Ap! ]obwork manufacturing in Pharmaceuticals items and traders in chemicals and solvents in hrdia. The Conrpany is er.rgagad in the business of siecialrty chemicalsonly^and therefore, there is only one reportable segment' There is.o reportable segment a1rd th. r"g.r*r.t-*ise disclosure requirement of lND AS 108 on operating segment is not applicable to it' s The previous periorls, fig,res have been re-gro*ped 1 re-arrarg,ed 1 re-casted wherever necessary to make it c*mparable with the current period. 4 The statutory Auditors have conducterl a li.,.iterl. revie.*, of tire above mentio.ed quarterlv and half year results as reiluired by Reg;rlation 33 of the 'EBI (Listing obligations and Disclosure Requireme*ts) Regulations, 2015. The Repori of the statutory auditors willbe uploaded o. the websites of BSE Limite<l a*d Nati.nal stock Excha*ge of India Li,rite<l along-with the results and is also available on the Company's website www.sudarshanPharma.ccm' 5 w.e.f. 2Tth october 2026, the cornpany successfully conrpleted the rrrigratiolof its equity shares from-the sME Platform of BSE Limited to the Main Board of BSE Limiterl and listing oa the main board of National ,{trxk Exchange oiln.{iu Limite4 in accordance with the applicable provisions of the securities and Exchange Board ofLrdia (sEBI) regulations and the relevant rules, circulars and guidelines' 6 During Quaterly aid Half year ended 30th september 2026, the Compa,y decided to discontinue its manufacturing operatioils at the Palghar unit. The decision was taken after evalua{ing the *rrit,s ope.ratirg perforr,ance a*<1 its conkibution to the Campa*y's financial results' The closure is expected to help the company rationalize fixei and cperatirg costs, nfnimize f*rther losses, a,'d enable management to focus its resources olr mote sustainable and profitable operations ? vide letter dated 31st July, 2024 to BSE Limiied r.n the progress of the litigation against Regans International DMCC, the Company had rt'on an awarrl in its favour arnounced by the Dubai court in iawsuit ag,ahst (i) Regals Interr.aaonat oMcc ancl (ii) Nand Biharilal chhabaria'Biharilai- Chu.ilal in Dubai, United Ara[: Emirates. According tr: the award annou*cerl, (i) Regans rnternational DMCC and (i) Nand Biharilal Ctrhabaria Biharilal Chunil.al have bee* ordered to pay tc the Coarpanry a* annount of uAE Dirhanr.40,30,934.00 (equivalent to approx' Rs'9'18'82'89a /'i'e' Rupees lrJine Crores Eighteen-Lakhs Eighty-Two Th*r."urra ei4'rt u,,.relretl And Ninety only) along wiltr interest at 5% am*aliy on the adiudge<l amount until the full payrrrent is 1lra'de' Til1 30th septemb er,2l)26,the Compani had received an *rncunt of Rs.7, 4s,eL06g I - (including interest) out of the total outstalding amount and the balalce would be received by the Comparv in future' ' g The Board of Directors of the compa,y accordecl its consent to raise funds up to Rs.1,500 crores (Rupees Fifteen Hundred crores) hy issuiltg Foreigrr Currency Convertible Bonr{s (FCCBs) aud other securities' At the Board Meeting held on l5th May 2026, the Directors accor<tred its approval to issue of uptc u'5' $ 2&000,t100 8'00;qo senior unsecured foreign cutrency convertible bonds due 2029, in one or more tranclrcs' ,l At t,.e Board Meeting held or.r 21st lvlay 2026, the Directc;rs acccrcled its approval to issue and allot u's'$10,000,000 aggregate value of FCCBs to the subscribers, r,r,ith a* option with the company to procure subscribers ftr up to an additional u's'$10'000'000 of Bonds on the same terms within 60 days from the Issue Date and app.o*r"d ,.ri.o*firmed the allt':tme*t of 10,000 87o senior unsecured foreign currency convertible bonds ,Jse 2A2g of face Vilue of USD 1,000 eac[ convertible i'ta fu11y paid-up equi$ shares of face value of Re'1 each of the cotrpaay at a price of Rs.30.19l-. The proceeds of the aforesaid allotmeat were received in tranches on 2zthWay 2026and 4th June 2026 comprising of USD 900'000 and USD 100,000 resPerbivelY' The above FCCBs are accounted ir accordance r.vith Ind AS 32 on Financial lnstru*ents: Presentation and krd AS 109 - Financial Lrstruments' At the FCCB Com,rittee Meeting held on 19th AugLrst 20?6, apprr:ved the allohnent of 48,1-1,730 {For$ Eight Lakhs Elev.en Thousa*d Seven Hundred And rhirty) rully pairl,up equity shares rrf ra.* valueill- each ,pon co'version of Foreig, currency Convertible Bonds (FCCBs) worth usD 15,00,000. The equity shares were been allotted at an issue price of Rs.30.19 per share, comprising a premium of Rs' 29'19 per share' Following the af'resaid aroL"nt, the total issued equity shares of the comparry staad at25,44,70,600, aggregating to a1r issued equity share fuluMBA\ in * r apital oI Rs. 25,14,70,60A/'
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9 The \,r"arrants Conunittec o{ thc Conrpany at its Mceting }rcld on 12th.}une 2C}26 ar:corcled if s approval to allot 90,0}000 equity shares of far-e ConrpanystandsincrcasetltoRs.24,96,58,l3701-consistingot2|,96,5S,ST0equitysharesof Re. ll each. 10 As at Scpten-rbcr 30tir, 2026 ant1 June 30tir, 202f;, there arr. potential clilrrtivc etluitv share in tirc nature of FCCB. The potential dilutive equiw* Ctrrrrpa rrt . 12 The Company has incorporatcd the lbllon,ilg subsidiarv conlprrn-v tlurir:g the perlod cntlcti 301h Scptember 2026:1,V. e. f. 5t June, 2026, othcr alliccl goods. Sudarshan Pharma Ifldusfu ies Hemal (Managirrg Director) DIN :i)2211121 Place: Mumbai Date: 29-1"0-2026 *d-
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SUDARSHAN PHARMA INDUSTRIES LIMITED CIN : L51496MH2$0BPLC184997 301, Aua Bipl*, Above (alym jewellere, S. Y. Road Borivali ftVst), Mmbai, Maharashtra 408092 India Statement af Staadaloae Assets and Liabilities for the period ended 30th Septemher.2026 rrnrrlrrfs lcss tl#tr { I itt l*dustries L;Git€d Hemal (Managing DIN:02211121 Place : Mumbai Date:29-74-2026 For 7,175.86 794.s7 1,131.18 9.61 625.50 5,r35.37 73.49 &r',8.56 7,776.85 343.51 7,151.66 996.75 775.40 3.-12s.84 19.39 't,254.07 '17,iJ94.46 14,943"47 72,67q36 344.{16 64.92 5,4.19.90 ?,ii87"81 st923.06 24hW.21 '19,9?2.85 268-84 10.90 w2.\a 2,634.27 M,474.54 20,665.52 73,017.52 \q417 97 1 9.296.41 ) qJ,r 7t '16,7ij.7i 15,270.51, 7.446.59 17,863.97 14,638.5f w.74 ?fr-7? m.86 3,O39.26 51.31 18.83 11,79?.44 3,1 42.68 6,990.88 19.09 1,23S.93 l-14 76.91 5847.?4 24,604.60 57.77 5,771.47 25,069.68 88.11 &940.14 14.86 664.34 t.a/ 154.67 38,9:8.66 41,0M.78 73,t17"52 594-17.97 I 1 Amete Noa-cumtasets Propcty, plmt and eqripur*rt Capilal wor&-ia-prcgrms Invshnst prolHtis Irtmgible assets urdei: develolmer* Finmcial asrets hvstmeEti OF:er fi nanr-i*l assets l)et-ened lax ar*e1* Other nol*rre:rt asts Total ncn-reli asets Liahilities iNon-qrent liabiliHs lttaltalal ilalltl It{6 Boruon ings I i .pa+ tlatn{ fiifr I i Othet fiiran.:ial liabiliti€ I I Tot l.or-.r*rt liabilities Borroq'ilgs Lem Liabilitis Trade payable Total otlstading dus s{ mirro eaterpdse mrl Total asets tharr Curentre*ts LlvstG!ies Fimtrcial asets Trde ra-eivable Lre Cash and ra:h eqaivalents Other fimacial wts Other orrrert as*ts Total curent a*,ets Equity and lialilitis Eqrig Erluityshae capitr:l Qther equir;* Total equity lellleol!iabLlit:es lrn-1n.ri I I r.r brhirF< MUI",1BAi * 16 iil e*f Toial equitv and liabilities
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SUDARSHAN PHARMA INDUSTRIES LIMITED CIN ; U514961vI1I2008PLC184997 301, Aura Biple(. Above Kaiyan-Jewellere, S. Y, Road, Borivali (tl/est), Mumlrai, Maharaahtra i100092 India. Staterae*t of Staadalone Cashflo*r, for tlre f€riod errded 3$th Septe*rber,2826 are { ifi La.ktNS) {rrrtl€ss nt]rcttrtise'A'datotes attourts lL'ss tltau { five For Industries Limited Ftremal N{ehta (N{anaging DIN:02211121 Place: Mumbai Date:29-10-2026 D. C. Flows Frorn Cper.rti ng Activities Prolitbelbre Tax and Aite: Ltceptiatal ke.ms for: ard a::rortisati*n €xirensr Finance costs fcr dcubtial debts Fcreigr exrhange gan (ne$ oa early Grrninati*:n of ieae o4 sale of assets Realisedl Unrmlis*ri gain crr Mutual Fanls Loss cn Sale ofS*bsidiary l,css on Ccrva:sicn of FCCB Interest irrcOme Opcating Cash Generated Before Iafcrkir6 Capital Changes ihcreaseilder:re.asr: in brr.entirry {lncreasei/ dseas in Trade rweivatr}es (krcease)/rtecrease ir-r Olher fi*ancial ;rssets {{nrrease}/dwraas ir Other rurrert *ss€ls (Incr:iselld*c*:ase in ?rarle payables Increase/(dmreas) in other currert liabilities Inoease / (Der-rease) in tr:ng Terrn Prcvision Increase / {Decr€ase) in Shcrt Term Provi-sion Changes in rvorking, capita! tax€s L,9t7.10 255.58 1,854.08 213.40 229-87 {2'88) 1il.tl0 9.53 {1 s6.64) 43s0"0s {.1,331.69) 12,965.W) 148-49 {53.5e) (1,885.s9) (373.61) 2.frZ 1.1.9 2,866.82 :140.65 2,529.74 39.72 (184.77) {18.4e) (102.01) (8.38) (222.83) 5,240.44 (6,961.43) (4,7s4.?,4) 715.45 (291.26) 6"080.12 255.03 3.96 2.38 {4817.i}4} {79.39} 290.82 (56r'.04) Ner Cash Flcw from Oper*ting Activities {A} i{,s96.42i {275"2:) Cash Eaws From lnvesti*g Activities SaIe / {Purchase) o{ Fiied Assets altl intangible assets (krduding tapital advarces) (lnrreasei / Der:ease in Capital 1i{i:rk in Progress Payment fcr ktvmtment in subsidiarv Advanr.es paid lor imesh*erhr / arq*i*itiot ol busiaess Proceeds frorn sale af intagitri* assets Proceeds iror:r saie *I Maiual Frurds hrterest l:rccnre Fixed deposits plaed {4,700,08) 620.05 (451.05) 36.89 (2,343.22) (0eOe.43) 1.,910.47 (456.92) 114.91 175.29 164.51 (2,969.99\ Ne{Cash Generated Franr lavestiag Acti!,ities {B} {6.837.33) {.7,971.75} Cash Flow Frcm Finalrcing Acti:ritirs Payrrrent of principal portion of leas: liabilities krtermt paid cn leme liabilities Proceeds l,{Rephyment) of Non-currenl Boro$i11gs Payment Recelved Towards FCCB (let of trmsctian Proceeds/ {Repal.rrrent) rn current borrowings Payment Received Towards Share Warrant Finance costs paid ('i0.'.i6) ii;.9t1 3,343.34 9,290.67 (411.5i1) 1,146.35 i1,533.11 (es.s5) (28.46) 1.,996.36 8,8A7.73 {2.161..66\ Net Cash frcrn Financing Activities {Cl lt,7&7-77 8,218.41 Net l*rc*l {Decrease} in Cash *ad CasL Equivaleuts {A+B+C} Cash and cash equivalents atbeginring of the year Cash and cash equivaienE at tlre end *l the year 54.02 10.90 i27.e6j 38.86 64.92 10.s0 lt'ii-ji';iSl\1 (,{-, * -F '0) Zt A.
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B/203|2nd Floor | Borivali Paras CHS |Rokadia Lane | Borivali (West)| Mumbai–400 092| | E-mail: ngstoffice@gmail.com | NGST & Associates Chartered Accountants Independent Auditor’s Review Report on the Quarterly and Year-to-Date Unaudited Standalone Financial Results of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To, The Board of Directors Sudarshan Pharma Industries Limited 301, Aura Biplex, Above Kalyan Jewellers, S. V. Road, Borivali (West), Mumbai – 400 092, Maharashtra Review Report to the Board of Directors of Sudarshan Pharma Industries Limited 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Sudarshan Pharma Industries Limited (“the Company”) for the quarter ended September 30, 2026 and the year-to- date results for the period from April 1, 2026 to September 30, 2026 (“the Statement”), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“the Listing Regulations”). 2. This 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 read with the 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 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 stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. FOR NGST & ASSOCIATES Chartered Accountants Firm Reg. No 135159W Twinkalkumar P Jain (Partner) M. No. 156938 Place: Mumbai UDIN: 26156938EECYIW7104 Date: October 29, 2026
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SUDARSHAN PHARMA INDUSTRIES LTD Head Office : ses, 7, SV Road, Bo! E-mail : compliance @sudarshanpharma com, Website : vww sudarshanpharma com Board Line : +91-22-42221111/42221116 (100 line) CIN : L3:496MHE2008PLCI84997 rmium Retas Mumbai - 4 a Biple: STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30TH SEPTEMBER, 2026 LT Particulars Quarter ended Half yearended | Year Ended Sept30, | March3l, | Sept30,2026 | Sept30,2025 | June 30,2025 | Sept30,2026 | S0 o] Unaudited Unaudited Unaudited | Unaudited Audited INCOME 1 |Revenue from operations 16,886.70 17,441.84 39,138.77 3141286 70,305.65 11_|Other Income 186.33 121.97 315.23 307.03 87130 111_|Total Income (I +11) 17,073.03 17,563.81 39,454.00 31,719.89 71,176.95 1V |EXPENSES (a)|Cost of material consumed 797.53 1,523.67 57253 (b) |Purchase of stock-in-trade 16,872.95 36,085.68 31,071.00 (€)|Changes in inventories of finished goods, stock-in-trade and work- (2695.67)| (4,250.49)| (3,490.59)| (d) |[Employee benefit expense 206.84 41068 336.17 (e)|Finance cost 820.71 1,856.23 1,189.53 (f)|Depreciation and amortisation expense 140.61 27617 17847 ()|Other expenses 67031 172127 899.08 Total Expenses (IV (a to g)) 16,813.28 37623.21 30,756.19 V_|Profit before tax 750.53 1,830.79 963.70 VI |Tax expense: 1) Current tax 366.91 12269 219.81 586.72 24836 73237 2) Deferred tax (64.68) (87.14)] (30.22) (94.90) (67.75) (1557) Total Tax Expenses for the period/year 30223 3555 159.59 29152 150.61 716,80 Vil_|Net Profi(Loss) for the period/year from continuing operations 778.03 38725 560.94 133897 78309 | 239717 [Share of Non-controliing Interest (30.72) (31.09)) (24.58)] (55.30)) (3891)) 684 VIiT [Profit for the period/year from operations 80875 21831 585,52 139427 82200 | 233033 IX_|Other comprehensive income, net of income tax A) i) ltems that will not be reclassified to profit or loss 057 @19) 057 115 [PET) 75 ii) Income tax relating to items that will not be reclassified to wofit o loss ©14) 030 (014) ©29) 060 (058) B) i) Items that will be reclassified to profit or loss 0.00 (0.00)] - 333 ii) Income tax relating to items that will not be reclassified to profit or loss = ] - C = Total other comprehensive income, net of income tax 04 ©59) [ 056 ) 565 X_|Total comprehensive income for the period/ year (IX+X1)) 778.46 386.36. 561.37 1,339.83 781.31 234222 X1_|Paid-up equity sharewcapital : (Face value INR 1 each) 25471 2,406.59 2,49.59 25471 2,406.59 2,406.59 XiT_[Other equity 13,103.08 XII1 |Profit and Losses Attributable to: -Owners of the Company 808.75 41834 585.52 139427 822.00 2,330.33 -Non Controlling, Interest (30.72) (31.09) (24.58)] (55.30)) (38.91)) 6,84 XVI_|Other Comprehensive Income _Attributable to: -Owners of the Company 043 (0.89)) 043 0.86 (1.78) 5.05 -Non Controlling Interest - = - - s = XVII | Total Comprehensive Income Attributable to: -Owners of the Company 809.17 41745 585.95 139513 820.22 2,335.38 -Non Controlling Interest (30.72)| (31.09) (24.58)) (55.30)] (38.91)) 6.84 XVl |Earnings per equily share (i)|Basic: (in Rs.) 031 0.16 023 054 0.32 0.97 (i) 031 0.16 0.3 054 0.32 0.97 For Sudarshan, Hemal Mehi (Managing, Director) DIN : 02211121 Place : Mumbai Date : 29-10-2026 Regd. Off.: 301, Aura Biplex, Above Kalyan Jewellers, S V Road, Borivali (West), Mumbai — 400092.
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SUDARSHAN PHARMA INDUSTRIES LIMITED CIN : L51496MH2008PLC184997 301, Aura Biplex, Above Kalyan Jewellers, S. V. Road, Borivali (West), Mumbai, Maharashtra 400092 India. Statement of Consolidated Assets and Liabilities for the period ended 30th September, 2026 d otherwise ‘0 ‘denotes amounts less than ¥ Five Hundred ) [ Non-current assets Property, plant and equipment 7,298.05 774127 (Capital work-in-progress 79457 34351 IGoodwill 491.89 52201 Investment properties 1,131.10 1,151.66 [Other Intangible assets 949.61 9675 Financial assets Investments 022 022 Other financial assets 574315 3,138.94 Deferred tax assets 7150 - (Other non-current assets 60856 1,254.07 Total non-current assets 17,088.64 1514542 (Current assets Inventories 2542431 21,874.03 Financial assets Trade receivables 25,059.87 23,334.01 Loans 31323 - (Cash and cash equivalents 17.41 11348 (Other financial assets 5,449.90 97218 |Other current assets 2,741.88 2,732.80 (Total current assets 59,106.60 49,026.49 | Total assets 76,195.24 64,174.91 |Equity and liabilities Equity Equity share capital 25471 2,406.59 Other equity 17,001 48 13,103.03 Non-Controlling Interest 691 12209 Total equity 19553.10 1563172 L Non-current liabilities Financial liabilities Borrowings 14,638.57 2,826,890 Lease liabilities 149.99 2594 (Other financial liabilities 327 327 Deferred tax liabilitics. 1638 1507 Employee benefit obligations 245 2010 (Total non-current liabilities 14,860.66 2931.27 Current liabi Borrowings 24,338.64 25,510.51 Lease liabilities 67.07 13078 Trade payables Total outstanding dues of micro enterprises and small er 6,968.79 6,861.92 Total outstanding dues of creditors other than micro enterprises and small enterprises 9,037.55 1191009 Other financial liabilities 1934 . 1810 [Current Tax liabilities 1,266.28 71634 [Employee benefit cbligations 220 193 [Other current liabilities 81.62 46225 | Total current liabilities 41,781.49 45,611.92 [Total equity and Liabilities 76,195.24 64,174.91 For Sudarshan Pharma Industries Limited Hemal (Managing, Director DIN : 02211121
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SUDARSHAN PHARMA INDUSTRIES LIMITED CIN : U51496MH2008PLC184997 301, Aura Biplex, Above Kalyan Jewellers, S. V. Road, Borivali (West), Mumbai, Maharashtra 400092 India. Statement of Consildated Cashflow for the period ended 30th September, 2026 (Figures are ¥ in Lakhs) (unless specified otherwise '0 'denotes amounts less than ¥ Five Hundred ) Cash Flows From Operating Activities Profit before income tax 1,830.79 3,053.97 Adjustments for: Depreciation and amortisation expense 276.17 378.83 Finance costs 1,856.23 253951 Provision for doubtful debts 24342 39.72 Unrealised Foreign exchange gain (net) 22981 (181.43) (Gain on Sale of Subsidiary (33.67) - Gain on sale of assets - (102.01), Gain on early termination of lease (2.88) (18.49) Loss on conversion of FCCB 953 = Interest income (141.60) (202.10) Realised / Unrealised gain on Mutual Funds - (8.38)) Operating Cash Generated Before Working Capital Changes s 4,267.80 5,499.62 (Increase) / Decrease in Inventory (4,045.77) (7,585.46) (Increase)/ Decrease in Trade Receivables (2,734.27) (7,670.08) (Increase)/ decrease in Other financial assets (99.20) 675.17 (Increase)/ Decrease in other current assets (44.44)) (354.04)| Increase/ (Decrease) in Trade Payables (2,154.07) 9,725.09 Increase/ (decrease) in other current liabilities (37267) 7727 Increase/ (decrease) in Long Term Provisions 235 284 Increase/ (decrease) in Short Term Provisions 141 184 Net Changes in working capital (5,178.85) 37226 Income taxes paid (net) (92.25), (602.14) [Net Cash Flow from Operating Activities (A) (5,271.10) (229.87), B. |Cash Flows From Investing Activities [Sale / (Purchase) of Fixed Assets and intangible assets (In| 62004 (6,909.70) [Proceeds from sale of intagible assets - 114.94 (Increase) / Decrease in Capital Work in Progress (451.05)| 1,91047 Sale / (Purchase) of Subsidiary Company 0.00 (206.92) Advances paid for investments / acquisition of @700.00) . businesses Fixed deposits placed (2313.22) (2,996.53) Interest Income 2185 14279 Proceeds from sale of Mutual Funds - 17529 Net Cash Generated From Investing Activities (B) (6,852.37) (7,769.66 C. |Cash Flow From Financing Activities Payment of principal portion of lease liabilities (45.20)) (102.80) Interest paid on lease liabilities (7.73) (3056), Proceeds/(Repayment) of current borrowings (673.95) 947203 Proceeds / (Repayment) of Non-current Borrowings 395444 101357 Finance costs paid (1,534.48)| (2435.31) Payment Received Towards Share Warrant 1,146.35 - [Payment Received Towards FCCB (net of transaction cos| 9,290.67 - [Net Cash from Financing Activities [C] 12,130.08 — 791692 Net increase in cash and cash equivalents 661 (82.61) Opening Balance of Cash & Cash Equivalents 11348 55.05 Add: On Acquisition of Subsidiary Company - 141.04 Less: On Sale of Subsidiary Company (268) - Closing Balance of Cash & Cash Equivalents 117.41 11348 For Sudars] arma Industries Limited Hemal Mel / > (Managing Director] | DIN : 02211121 Date : 29-10-2026 Place : Mumbai
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Notes: 1 The Statement has been reviewed by Members of the Audit Committee and approved by the Board of Directors at their respective meetings held on October 29, 2026. The statutory auditors have issued an unmodified report on these results. This Statement has been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and rules amended from time to time. 2 The Holding Company is engaged in manufacturing of API, Jobwork manufacturing in Pharmaceuticals items and traders in chemicals and solvents in India. The Group is engaged in the business of speciality chemicals only and therefore, there is only one reportable segment. There is no reportable segment and the segment wise disclosure requirement of IND AS 108 on operating segment is not applicable to it. 3 The previous periods’ figures have been re-grouped / re-arranged / re-casted wherever necessary to make it comparable with the 4 The Statutory Auditors have conducted a limited review of the above mentioned quarterly and half year results as required by Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Report of the statutory auditors will be uploaded on the BSE portal along with the results and is also available on the Group's website www.sudarshanpharma.com. 5 W.ef. 27th October 2026, the Group successfully completed the migration of its equity shares from the SME Platform of BSE Limited to the Main Board of BSE Limited and listing on the main board of National Stock Exchange of India Limited, in accordance with the applicable provisions of the Securities and Exchange Board of India (SEBI) regulations and the relevant rules, circulars and guidelines. 6 During the Quaterly and half Year ended 30th September, 2026, the Group decided to discontinue its manufacturing operations at the Palghar unit. The decision was taken after evaluating the unit’s operating performance and its contribution to the Group's financial results. The closure is expected to help the Group rationalize fixed and operating costs, minimize further losses, and enable management to focus its resources on more sustainable and profitable operations. 7 Vide letter dated 31st July, 2024 to BSE Limited on the progress of the litigation against Regans International DMCC, the Company had won an award in its favour announced by the Dubai Court in lawsuit against (i) Regans International DMCC and (ii) Nand Biharilal Chhabaria Biharilal Chunilal in Dubai, United Arab Emirates. According to the award announced, (i) Regans International DMCC and (i) Nand Biharilal Chhabaria Biharilal Chunilal have been ordered to pay to the Company an amount of UAE Dirham 40,30,934.00 (equivalent to approx. Rs.9,18,82,890/- i.e. Rupees Nine Crores Eighteen Lakhs Eighty Two Thousand Eight Hundred And Ninety only) along with interest at 5% annually on the adjudged amount until the full payment is made. Till 30th September, 2026, the Company had received an amount of Rs.7,48,81,069/- (including interest) out of the total outstanding amount and the balance would be received by the Company in future. 8 The Board of Directors of the Group accorded it's consent to raise funds up to Rs.1,500 Crores (Rupees Fifteen Hundred Crores) by issuing Foreign Currency Convertible Bonds (FCCBs) and other securities. At the Board Meeting held on 15th May 2026, the Directors accorded its approval to issue of upto U.S. $ 20,000,000 8.00% senior unsecured foreign currency convertible bonds due 2029, in one or more tranches. At the Board Meeting held on 21st May 2026, the Directors accorded its approval to issue and allot U.5.$10,000,000 aggregate value of FCCBs to the subscribers, with an option with the Group to procure subscribers for up to an additional U.5.$10,000,000 of Bonds on the same terms within 60 days from the Issue Date and approved and confirmed the allotment of 10,000 8% senior unsecured foreign currency convertible bonds due 2029 of face value of USD 1,000 each, convertible into fully paid-up equity shares of face value of Re.1 each of the Group at a price of Rs.30.19/-. The proceeds of the aforesaid allotment were received in tranches on 27th May 2026 and 4th June 2026 comprising of USD 900,000 and USD 100,000 respectively. The above FCCBs are accounted in accordance with Ind AS 32 on Financial Instruments: Presentation and Ind AS 109 - Financial Instruments. At the FCCB Committee Meeting held on 19th August 2026, approved the allotment of 48,11,730 (Forty Eight Lakhs Eleven Thousand Seven Hundred And Thirty) fully paid-up equity shares of face value ¥1/- each upon conversion of Foreign Currency Convertible Bonds (FCCBs) worth USD 15,00,000. The equity shares were been allotted at an issue price of Rs.30.19 per share, comprising a premium of Rs. 29.19 per share. Following the aforesaid allotment, the total issued equity shares of the Company stand at 25,44,70,600, aggregating to an issued equity share capital of Rs. 25,44,70,600/ -
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9 The Warrants Committee of the Group at its Meeting held on 12th June 2026 accorded it's approval to allot 90,00,000 equity shares of face value of Re.1/- each at an issue price of Rs.16.98 each (including a premium of Rs.15.98 each), consequent upon the conversion of 9,00,000 Warrants issued at an Issue Price of Rs.169.83 each on 18th December 2024, to Mr. Hemal Mehta and Mr. Sachin Mehta, Promoters, on preferential basis, upon receipt of balance amount aggregating to Rs.11,46,20,000/- per warrant (being 75% of the issue price per warrant) from the allottees pursuant to the exercise of their rights of conversion into equity shares. Consequently, the issued and paid-up capital of the Company stands increased to Rs.24,96,58,870/- consisting of 24,96,58,870 equity shares of Re. 1/-each 10 As at September 30, 2026 and June 30, 2026, there are potential dilutive equity share in the nature of FCCB. The potential dilutive equity shares has an anti-dilutive effect. Hence no dilution effect has been considered for the quarter ended September 30, 2026 and June 30, 2026. 11 On 28th September 2026, the Group completed sale of 2,09,100 equity shares of Rs.10/- each (51.00% of the total paid-up capital of Ishwari) held by the Group in Ishwari Healthcare Private Limited, subsidiary company at a consideration of Rs.1.40 Crores. Consequent to the aforesaid sale, the shareholding of the Group in Ishwari has been reduced from 51.00% to Nil and Ishwari has ceased to be a subsidiary of the Company.) 12 The Group has incorporated the following subsidiary company during the period ended 30 September 2026: W. e. f. 5t june, 2026, “Sudarshan Industries Inc.” (hereinafter referred to as “Sudarshan USA”) was incorporated as a wholly-owned subsidiary of the Company. The Group has subscribed to 1,00,00,000 shares of USD0.00001 each of Sudarshan USA (approx. Rs.9,600/-) (100.00% of the paid-up share capital). The main object of Sudarshan USA is to carry on the business to buy, sale, manufacture, process, import, export, promote, develop, wholesale and / or retail trade in all kinds and varieties of pharmaceuticals, antibiotics, drugs, medicines, biological, neutraceuticals, healthcare, ayurvedic and dietary supplement products, medicinal preparations, vaccines, pharma intermediates, Active Pharmaceutical Ingredients, antibiotics, drugs, medicines, biologicals, neutraceuticals chemicals, chemical products, chemical compounds including speciality chemicals and other allied goods. 13 The accounts of the following subsidiaries of the Holding company have been considered while preparing consolidated Financial Results / Statements of the Group: *Sudarshan Pharma Lifescience Private Limited * Ratna Lifesciences Private Limited *Sudarshan Maven Pharma Private Limited * Ishwari Healthcare Private Limited (upto 28th September 2026) * Sudarshan Pharma Industries Private Limited, Singapore * Cibachem General Trading LLC, Dubai (w.e.f 5th August 2025) * Sudarshan Pharma Poland Limited Liability Company, Poland (w.e.f. 17th December 2025) * Sudarshan Industries Inc, USA (w.e f. 5th June 2026)
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B/203|2nd Floor | Borivali Paras CHS |Rokadia Lane | Borivali (West)| Mumbai–400 092| | E-mail: ngstoffice@gmail.com | NGST & Associates Chartered Accountants Independent Auditor’s Review Report on the Quarterly and Year-to-Date Unaudited Consolidated Financial Results of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To, The Board of Directors Sudarshan Pharma Industries Limited 301, Aura Biplex, Above Kalyan Jewellers, S. V. Road, Borivali (West), Mumbai – 400 092, Maharashtra Review Report to the Board of Directors of Sudarshan Pharma Industries Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Sudarshan Pharma Industries Limited (“the Parent” or “the Holding Company”) and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”), for the quarter ended September 30, 2026 and the year-to-date results for the period from April 1, 2026 to September 30, 2026 (“the Statement”), 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 read with the 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: Parent: Sudarshan Pharma Industries Limited Subsidiaries: (i) Sudarshan Pharma Lifescience Private Limited (ii) Lifescience Chemical Private Limited (iii) Ratna Lifesciences Private Limited (iv) Sudarshan Maven Pharma Private Limited (v) Ishwari Healthcare Private Limited (up to September 28, 2026) (vi) Sudarshan Pharma Industries Private Limited, Singapore
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B/203|2nd Floor | Borivali Paras CHS |Rokadia Lane | Borivali (West)| Mumbai–400 092| | E-mail: ngstoffice@gmail.com | NGST & Associates Chartered Accountants (vii) Cibachem General Trading LLC, Dubai, UAE (viii) Sudarshan Pharma Poland Limited Liability Company, Poland (ix) Sudarshan Industries Inc., USA (w.e.f. June 5, 2026) 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors and the interim financial information certified by the Management 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 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. Other Matters (a) We did not review the interim financial information of five Indian subsidiaries (including one subsidiary up to the date of its disposal) included in the Statement, whose interim financial information reflect total assets of ₹ 4,001.53 lakhs as at September 30, 2026, total revenues of ₹ 1,439.78 lakhs and ₹ 2,446.37 lakhs, total net loss after tax of ₹ 44.38 lakhs and ₹ 88.77 lakhs, and total comprehensive loss of ₹ 44.34 lakhs and ₹ 88.68 lakhs, for the quarter ended September 30, 2026 and for the period from April 1, 2026 to September 30, 2026 respectively, and net cash outflows of ₹ 47.91 lakhs for the period from April 1, 2026 to September 30, 2026, as considered in the Statement. This interim financial information has been reviewed by other auditors, whose reports have been furnished to us by the Management, and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. (b) The Statement includes the interim financial information of four foreign subsidiaries which has not been reviewed by their auditors, whose interim financial information reflect total assets of ₹ 13.59 lakhs as at September 30, 2026, total revenues of ₹ Nil and ₹ Nil, total net loss after tax of ₹ 1.34 lakhs and ₹ 1.41 lakhs, and total comprehensive loss of ₹ 1.34 lakhs and ₹ 1.41 lakhs, for the quarter ended September 30, 2026 and for the period from April 1, 2026 to September 30, 2026 respectively, and net cash inflows of ₹ 0.52 lakhs for the period from April 1, 2026 to September 30, 2026, as considered in the Statement. This interim financial information has been certified by the Management and furnished to us. According to the information and explanations given to us by the Management, this interim financial information is not material to the Group. Our conclusion on the Statement is not modified in respect of the above matters. FOR NGST & ASSOCIATES Chartered Accountants Firm Reg. No 135159W Twinkalkumar P Jain (Partner) M. No. 156938 Place: Mumbai UDIN: 26156938MCWSND1047 Date: October 29, 2026