Interim report
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28th October 2026 To, The Manager - Listing Department, The National Stock Exchange of India Ltd Exchange Plaza, 5th floor, Plot no. C/1, “G” Block, Bandra-Kurla Complex, Mumbai-400051 Symbol: APCOTEXIND To, Manager-Department of Corporate Services BSE Limited Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 Security Code: 523694 Dear Sir/Madam, Sub: Outcome of the Board Meeting held today i.e., on Wednesday, 28th October 2026 With reference to the captioned subject, we wish to inform you that a meeting of the Board of Directors of the Company was held today, i.e., on Wednesday, 28 th October 2026 and the Board has considered and approved the Audited Financial Results of the Company for the quarter and half year ended 30th September 2026. We enclose herewith the Audited Financial Results of the Company for the quarter and half year ended 30 th September 2026 along with the Audit Report issued by M/s. Manubhai & Shah LLP, Statutory Auditor of the Company. The Board Meeting commenced at 11.30 am and concluded at 2.20 pm. You are requested to acknowledge the receipt and take the same on your records. For Apcotex Industries Limited Drigesh Mittal Head - Company Secretary & Legal Encl: As above REGISTERED OFFICE C-403/ 404, 4th Level, Wing C, Tower 1, Seawoods Grand Central, Sector 40, Navi Mumbai-400706 Maharashtra, India T: +91-22-62060800 Apcotex Industries Limited CORPORATE OFFICE NKM International House, 178, Backbay Reclamation, Babubhai M. Chinai Marg, Mumbai-400020 , Maharashtra, India T : +91-22-35406092 CIN No.: L99999MH1986PLC039199 TALOJA FACTORY Plot No. 3/1 , MIDC Industrial Area, Taloja, Dist. Raigad-410208 Maharashtra, India T: +91-22-71403500 www.apcotex.com
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Sr. No. l 2 3 4 5 6 7 8 9 10 11 STATEMENT OF AUDITED FJNANCIAL RESULTS FOR QUARTER AND HALF YEAR ENDED SEPTEMBER 30, ZOZ6 •. ' Rs in Lakhs )uarter ended Particulars September June 30, September 30, 2026 2026 30, 2025 !Audited) !Audited) !Audited) Income from operations (a) Revenue from Operations 49,892.46 52,563.35 33,669.31 (b) Other Income 451.59 280.54 460.46 Total income 50,344.05 52,843.89 34,129.77 Expenses (a) Cost of material consumed 34,080.43 37,650.66 23,980.66 [b) Changes in Inventories of Finished Goods, Stock-in-Trade and Work-in-Progress. 2,365.00 (3,727.40) (635.31) (c) Employee benefits expenses 2,356.74 2,392.20 2,061.68 (d) Finance costs 255.27 214.79 296.08 (e) Depreciation and amorti sation expenses 1,279 .5 7 1,311.18 1,201.59 (f) Other Expenses 5,256.71 4,537.50 4,202 .12 Total expe nses 45,593.72 42,379.01 31,106.82 Profit before Exceptional Items and Tax 4,750.33 10,464.88 3,022.95 Exceptional Items (Refer note 6) 575.00 Profit before Tax 4,750.33 10,464.88 3,597.95 Tax expenses (a) Current Tax 1,202.59 2,682.65 849.60 [b] Deferred Tax 108.48 (111.70) 218.74 ( c) Excess Tax provision of earlier years ( 44.39) Total Tax 1,266.68 2,570.95 1,068.34 Net Profit after Tax 3,48 3.65 7,893.93 2,529.61 Other Comprehensive Income Item that will not be reclassified to Statement of Profit and Loss (130.19) 910 .21 43.61 Income Tax on Item that will not be recl assified to Sta teme nt of Profit and Loss Other Comprehensive Income Total Comprehensive Income for the period Paid up equity share capita l (face value Rs 2/· each] Other Equity Earnings per Equity sbare Basic & Diluted ('Not annualised) REGISTERED OFFICE C-403/404, 4th Level, Wing C, Tower 1, Seawoods Grand Central, Sector 40, Navi Mumbai-400706 Maharashtra, India T: +91-22-62060800 Apcotex Industries Limited 35.65 (122.87) 12.45 (94.54) 787.34 56.06 3,389.11 8,6 81.27 2,585.67 1,036 .9 0 1,036 .90 1,036 .90 6.72' 15.23 • 4.88' CORPORATE OFFICE NKM International House, 178, Backbay Reclamation, Babubhai M. Chinai Marg, Mumbai-400020, Maharashtra, India T:+91-22-35406092 CIN No.: L99999MH1986PLC039199 Halfvear ended Year ended September 30, 2026 !Audited) 1,02,455.81 732.13 1,03,187.94 71,731.09 [1,362.40) 4,749 .02 470.06 2,590.75 9,794.21 87,972.73 15,2 15.21 15,215.21 3,885.24 (3.22) (44.39) 3,837.63 11 ,377.58 780 .02 (87.22) 692 .80 12 ,070.38 1,036.90 21.95' September March 31, 30, 2025 2026 (Audited) (Audited) 71,245.72 1,44,149.88 724.82 1,724.30 71,970.54 1,45,874 .18 50,804.40 98,896.66 255 .10 92.76 3,')87.00 9,649.99 661.36 1,121.00 2,327.88 4,955.99 8,278.43 17,769.39 66,314.25 1,32,485 .79 5,656.29 13,388.39 575.00 96.54 6,231.29 13,484.93 1,54 7.74 3,801.09 238.00 (256.55) (200 .74) 1,78 5.7 4 3,343.80 4,445.55 10,141.13 622 43 216 .50 (62.03) 53.48 560.40 269.98 5,005.95 10,411.11 1,036.90 1,036.90 61,062.04 8.57' 19.56 TALOJA FACTORY Plot No. 3/1, MIDC Industrial Area, Taloja, Dist. Raigad-410208 Maharashtra, India T:+91-22-71403500 www.apcotex.com
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STATEMENT OF ASSETS AND LIAlllLITIES I . As at .. ' September 30, Particulars : 2026 ( A ,,li> n.ll I ASSETS NON CURRENT ASSETS (a) Property, Plant and Equipment 34,938 .24 (bl Capital Work in Progress 6,561 .92 (c) Investment Properties 139.75 (d) Intangible Assets 11.72 (e) Financial Assets: i) Investments 10,961.34 ii) Other Financial Assets 0.56 (f) Other Non-Current Assets 2,261.41 54,874.94 CURRENT ASSETS [a) Inventories 17,218.07 [bl Financial Assets: i) Investment 1,086.41 1i) Trade Receivables 32,144.78 iii) Cash and Cash Equivalents 1,482.18 iv) Other Bank Balances 2,447.08 v) Loans 32.35 vi) Others 844.01 (c) Current Tax Assets-(Net) (d) Other Current Assets 6,004.53 61,259.41 OTHER ASSETS Assets Classified as Held for Sale 138.52 TOTAL ASSETS 1,16,272.87 II EQUITY AND LIABILITIES EQUITY (a) Equity Share Capital 1,036.90 (b) Other Equity 70,280.95 71,317.85 LIABILITIES NON CURRENT LIABILITIES (a) Financial Liabilities: i) Term Loan 4,036.72 1i) Lease Liabilities 145 .15 iii) Other Financial Liabilities 467.85 (b) Provisions 1,675.98 [c) Deferred Tax Liabilities [net) 1,831.17 8,156.87 CURRENT LIABILITIES (a) Financial Liabilities: i) Borrowings 9,762.12 ii) Lease Liabilitie s 138.86 iii) Trade Payables Total outstanding dues of Micro and Small Enterprise 418.92 Total outstanding dues of creditors other than 19,738.64 Micro Enterprises and Small Entreprises iv) Other Financial Liabilities (b) Provisions (c) Current Tax Liability -Net [d) Other Current Liabilit ies TOTAL EQUITY AND LIABILITIES REGISTERED OFFICE C-403/404 , 4th Level, Wing C, Tower 1, Seaweeds Grand Central, Sector 40, Navi Mumbai- 400706 Maharashtra, India T : +91-22-62060800 3,157.18 1,295.99 953.85 1,332.59 36,798.15 1,16,272 .87 CORPORATE OFFICE NKM International House, 178, Backbay Reclamation, Babubhai M. Chinai Marg, Mumbai-400020 , Maharashtra, India T: +91-22-35406092 Rs in Lakhs ' As at March 31, 2026 ( A .. A;to,I) 36,225.40 1,126.50 141.41 18.82 9,490.56 0.56 2,106.79 49,110.04 12,818.47 2,245.28 24,448.77 3,183.30 1,413.63 34.68 1,519.45 235.89 3,500.70 49,400.17 138.52 98,648.73 1,036.90 61,062.04 62,098 .94 3,165.24 216.29 434.13 1,177.04 1,747 .18 6,739.88 6,130.74 126.97 504.35 17,940.93 2,240.17 1,004.18 1,862.57 29,809.91 98,648.73 Apcotex Industries Limited CIN No.: L99999MH1986PLC039199 TALOJA FACTORY Plot No. 3/1, MIDC Industrial Area, Taloja, Dist. Raigad-410208 Maharashtra, India T : +91-22-71403500 www.apcotex .com
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STATEMENT CW CASH FLOWS FOR THE HALF YEAR ENDED SEPTEMBER 30 2026 ( . •. ' . A. CASH FLOW FROM OPERATING ACTIVITIES : Profit Before Tax Adjustments for: Depreciation and Amo rti zation Expense Finance Cost F'oreign Exchange Fluct uation Difference Loss/ (Profit) on Sale of Assets Provision for Bad and Doubtf ul Debts/ ECL Net gain on financial assets measured at fair value through Profit and Loss Loss/ (Surplus) on Sale of Investment Dividend Income Interest received Income from Rent Excess Provision written back Operating Profit Before Working Capital Changes Adjustments for: (Increase)/ Decrease in Inventories (Increase) / Decrease in Trade Receivable and Other Current Assets (Increase)/ Decrease in Non Curr ent Assets Increase/ (Decrease) in Trade Payable and Other Curr ent Assets Increase / (Decrease) in Non Current Liabilities Cash Flow Generated from Operations Direct taxes paid Net Cash Flow from Operating Activities (a) B. CASH FLOW FROM INVESTING ACTIVITIES Purchase of PPE and Intangible assets Proceeds on sale of PPE and Intangibl e assets Purchase of Investments Sale of Investment s Dividend Income Interest received Income from Rent Net Cash Flow (Used in Investing Activities) fbl C. CASH FLOW FROM FINANCING ACTIVITIES Proceeds/ (Repayment) of Short Term Borrowings (Net) Proceeds from Long Term Borrowings (Repay111ent) of leasse li abiliti es Finance Cost paid Dividends paid Net Cash Flow (From Financing Activities) r c1 Net Incr ease/ (Decrease) in Cash and Cash Equivalents /a+b+cl Cash and Cash Equivalents as at 1st Apri l Cash and Cash Equivalents as at 30th Septe111ber Notes: Annexure I Rs in Lakhs Half vear ended September 30, September 30, 2026 2025 15,215.21 6,231.29 2,590.75 2,327.B8 470.06 661.36 17.62 (54.81) (17.19) (580.95) (18.18) (30.96) (68.96) (7.99) (11.25) (33.00) (27.33) (63.81) (75.69) (18.5B) (20.51) (0.38) (67.39) 18,103.55 8,313.64 (4,399.60) 469.49 (10,542.80) 6,180.32 (154.62) (34.45) 1,901.28 (2,996.03) 532.66 8.62 5,440.47 11,941.59 (2,652.30) [1,213.67) 2,788.17 10,727.92 (6,674.43) (2,113.11) 229.49 612.73 (1,303.03) (1,059.03) 823.14 1,256.23 33.00 27.33 62.66 78.77 18.58 20.51 (6,810 .59) (1,176.57) 3,619.97 (3,815.72) 882.89 (1,562.50) (59.25) (54.71) (470.06) (665.82) (2,811.12) [2,303.28' 1,162.43 (8,402 .03] (2,859.991 1,149.32 5,428.58 4,914.03 2,568.59 6,063.35 The Cash Flow Statement has been prepared under the 'Indir ect Method' as set out in the Indi an Accounting Standard (Ind AS) 7 - Cash Flow State111ent and presents cash flows by operating, investing and financin activities. 2 Cash and Cash E uivalents com rises of: Rs in Lakhs Cash and Cash Equivalents Current lnvest111ent Cash and Cash Equivalents 111 cash llow statement REGISTERED OFFICE C-403/404, 4th Level, Wing C, Tower 1, Seaweeds Grand Central, Sector 40, Navi Mumbai-400706 Maharashtra, India T: +91-22-62060800 Apcotex Industries Limited CORPORATE OFFICE NKM International House, 178, Backbay Reclamation, Babubhai M. Chinai Marg, Mumbai-400020, Maharashtra , India T: +91-22-35406092 CIN No.: L99999MH1986PLC039199 Se As at As at t. 30 2026 Se t. 30 2025 1,482.18 2,671.19 1,086.41 3,392.16 2,568.59 6,063 .3 5 TALOJA FACTO Plot No. 3/1, MIDC Industrial Area, Taloja, Dist. Raigad-410208 Maharashtra, India T:+91-22-71403500 www.apcotex.com
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Notes: 1 The abov e results have been prepared fn._!lfCordance with Indian Accounting Standards (IND AS) notified u/s 133 of the Companies Act, 2013 read together with the Companies (Indian Accounting Standards) R.ules, 2015 (as amended). 2 The Company is engaged in the business of Synthetic Emulsion Polymers. As the Company has only one business segment, disclosure under Ind-AS 108, on Segment Reporting is not applicable . 3 The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on October 28, 2026 . 4 Audited Statement of Cash Flows is attached in Annexure-1. 5 The Company does not have any subsidiary /associate/joint venture company (ies), as on September 30,2026. Hence consolidated financial results are not required to be prepared. 6 Cumulative effect of exceptional items is ~96.54 lakhs (income) for the year ended March 31, 2026 comprising of: a) Employee benefit expenses amounting to H78.46 lakhs during the quarter ended December 31, 2025 based on Company's assessment of material impact on implementation of the four labour codes. b) Profit of'l:575.00 Lakhs on the sale of office premise during the quarter ended September 30, 2025. Place: Mumbai Date: October 28, 2026 REGISTERED OFFICE C-403/404, 4th Level, Wing C, Tower 1, Seawoods Grand Central , Sector 40, Navi Mumbai-400706 Maharashtra, India T: +91-22-62060800 Apcotex Industries Limited SIGNED FOR INDENTIFICATION BY ~ . MANUBHAI & SHAH LLP CHARTERED ACCOUNTANTS CORPORATE OFFICE NKM International House , 178 , Backbay Reclamation , Babubhai M. Chinai Marg, Mumbai-400020 , Maharashtra , India T: +91-22-35406092 CIN No.: L99999MH1986PLC039199 For and behalf of the Board Atul C. Choksey Chairman TALOJA FACTORY Plot No. 3/1 , MIDC Industrial Area, Taloja, Dist. Raigad-410208 Maharashtra , India T: +91-22-71403500 www.apcotex.com
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Manubhai & Shah LLP Chartered Accountants Independent Auditor's Report on The Audit of Financial Results for the , Quarter and Half Year Ended September 30, 2026 To, The Board of Directors of ·, Apcotex lndustr 'ies q"1ited • .. Opinion We have audited the accompanying financial results of Apcotex Industries Limited (the "Company"), for the quarter and half year ended September 30, 2026, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India ( Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). In our opinion and to the best of our information and according to the explanations given to us, these financial results for quarter and half year ended September 30, 2026 : a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and b. give a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"} prescribed under section 133 of the Companies Act 2013 ("the Act") read with relevant rules issued thereunder and other accounting principles generally accepted in India of the net prof it , total comprehensive income and other financial information of the Company for the quarter and half year ended September 30, 2026. Basis for Opinion We conducted our audit of the financial results in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the ethical requirements that are relevant to our audit of the financial results for the quarter and half year ended September 30, 2026 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAl's Code of Ethics . We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial results. Management's and Board of Directors' Responsibilities for the Financiaf Results These financial results have been compiled from the related audited interim condensed financial statements and have been approved by Board of Directors of the Company for its issuance. The Company's Management and Board of Directors are responsible for the preparation and presentation of the financial results that Manubhai & Shah LLP, a Limited Liability Partnership with LLP identity No.AAG-0878 Regd. Office: 4th Floor, Capital One, Opp. Ashok Vatika BRTS Stop, Ambli Bopal Road, Ahmedaba Gujarat, India. Phone : +91-79-2647 0000, +91-79-4107 0800 Email : info@msglobal.co.in Website : www.msglobal.co.in Ahmedabad • Mumbai • New Delhi • Rajkot • Jamnagar • Baroda • GIFT City • Udaipur • Indore • Surat• Pune
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Manubhai & Shah LLP Chartered Accountants give a true and fair view of the net profit and other comprehensive income and other financial,information in accordance with the recognition and measurement principles· laid down in Indian Accounting Standard 34, "Interim Financial Reporting" prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting ";Principles generally accepted in India and in compliance with Regulation 33 of the", Listing Regulations. Th is respo 'ns ib ility a Isa includes maintenance of adequate accounting rect>rds in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results that give a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the financial results, the Management and the Board of Directors are responsible for assessing the Company's ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors are also responsible for overseeing the Company's financial reporting process . Auditor's Responsibilities for the Audit of the Financial Results Our objectives are to obtain reasonable assurance about whether the financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion . Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial results. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Independent Auditor's Report on financial results of Apcotex Industries Limited for quarter and half year ended September 30, 2026 2 ~i==::::::,, ....
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Manubhai & Shah LLP Chartered Accountants Obtain an understanding of internal control relevant to the audit in order to desi&_n auc:Ht procedures that are appropriate in the circumstances , but not for the purpose of expressing an opinion on the effectiveness of Company's internal control. Evaluate t·he Ji;i:r.iropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the financial results m·ade by the Management and Board of Directors. Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations . Conclude on the appropriateness of Management's and Board of Director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion . Our conclusions are based on the audit evidence obtained up to the date of our auditor' s report . However , future events or conditions may cause the Company to cea se to continue as a going concern. Evaluate the overall presentation, structure and content of the financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters , the planned scope and timing of the audit and significant audit findings , including any significant deficiencies in internal control that we identify during our audit . We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence , and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards . Place: Mumbai Date: October 28, 2026 For Manubhai & Shah LLP Chartered Accountants Firm's Registration No: 106041W/W100136 K C Patel Partner Membership No. 030083 UDIN: 26030083VSS MEO 1372 Independent Auditor's Report on financial results of Apcotex Industries Limited for quarter and half year ended September 30,2026 3