Interim report
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05th November, 2025 To BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai – 400 001 Scrip Code: 532830 To National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex, Bandra (East) Mumbai – 400 051 Symbol: ASTRAL Sub. : Outcome of the Board Meeting held on 05th November, 2025 Dear Sir/Madam, With reference to the captioned subject matter, we would like to inform you that the Board of Directors of the Company at its meeting held today i.e. 05 th November, 2025 has inter alia considered and approved following: 1. Unaudited (Standalone & Consolidated) Financial Results for the quarter and half year ended on 30 th September, 2025. The financial results along with Limited Review Reports are enclosed herewith. 2. Interim Dividend for the financial year 2025- 26 at the rate of Rs. 1.50 per share of face value of Rs. 1/- each. The Record Date for determining the shareholders entitled for payment of the said Interim Divided has been fixed as Tuesday, 11th Nov ember, 2025. The Meeting of the Board of Directors of the Company commenced at 02:30 p.m. a nd concluded at 3:35 p.m. Kindly take the same on your record. Thanking you, Your s faithfully, For Astral Limited Chintankumar Patel Company Secretary Membership No.: A29326 Encl.: As above ~ ASTRAL Astral Limited CIN : L25200GJ1996PLC029134 Registered & Corporate Office: 'Astral House', 207/1, Behind Rajpath Club, Off S. G. Highway, Ahmedabad - 380 059, Gujarat, India. P: +91 79 6621 2000 I F: +91 79 6621 2121 I E: info@astralltd.com I W: astral ltd.com
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SR BC & CO LLP 21st Floor, B Wing, Privilon Ambli BRT Road, Behind lskcon Temple Chartere .d Accountants Off SG Highway, Al1medabad - 3B0 059, lndiu Tel : +91 79 6608 3900 Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Astral Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results of Astral Limited (the "Company") for the qua11er ended September 30, 2025 and year to date from April 01, 2025 to September 30, 2025 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. 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 oflndia. 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 Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 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 the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For S R B C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003 r&l' Partner (~~ Membership No.: 62906 VJ 1[ UDIN: 25062906BMGYPH4140 :>- 1_,, ,· ~ /l'(J AC'-'~ Place: Ahmedabad -~ Date: November 5, 2025 SR BC & CO LLP, a Limited liability Partnership with LLP Identity No. AAB·4318 Regd. Office: 22, Camac Street. Block 'B', 3rd Floor. l<olkata-700 016
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& ASTRAL STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2025 Sr. No. 1 2 3 4 5 6 7 8 9 10 11 12 (Rs. In Million, except as stated otherwise) Quarter ended Half Year ended Year ended Particulars September 30, June 30, September 30, September 30, September 30, March 31, 2025 2025 2024 2025 2024 2025 {Unaudited) (Unaudited) {Unaudited) (Unaudited) {Unaudited) (Audited) Revenue from Operations 14,161 12,071 12,301 26,232 24,831 52,959 Other Income 125 153 128 278 247 444 Total Income {1+2) 14,286 12,224 12,429 26,510 25,078 53,403 Expenses a. Cost of Materials consumed 7,952 7,720 7,136 15,672 14,723 30,981 b. Purchase of traded goods 262 207 238 469 414 918 c. Changes in inventories of finished goods, work- 311 (623) 85 (312) {285) (198) in-progress and traded goods d. Employee benefits expense 1,104 1,104 1,008 2,208 2,017 4,086 e. Finance Costs i. Borrowing Cost 45 43 59 88 111 226 ii. Exchange Fluctuation 81 44 14 125 13 80 f . Depreciation and amortisation expense 556 559 473 1,115 911 1,922 g. Other expenses 1,973 1,868 1,769 3,841 3,804 7,801 Total Expenses 12,284 10,922 10,782 23,206 21,708 45,816 Profit before tax {3-4) 2,002 1,302 1,647 3,304 3,370 7,587 Tax expense (Refer note 7) 503 336 424 839 866 1,924 Net Profit for the period/year {5-6). 1,499 966 1,223 2,465 . 2,504 5,663 Other Comprehensive Income (net of tax) Items that will not be reclassified to Profit - - - - - (14) and Loss Total Comprehensive ln_come for the 1,499 966 1,223 2,465 2,504 5,649 period/year (7+8) Paid up Equity Share Capital (Face Value of Re.1/- 269 269 269 269 269 269 each) Other Equity excluding Revaluation Reserves 35,677 Earnings Per Share ( of Re. 1/- each) (Not Annualised): - Basic (In Rs.) 5.58 3.60 4.55 9.18 9.32 21.08 - Diluted (In Rs.) 5.58 3.60 4.55 9.18 9.32 21.08 See accompanying notes to the Standalone Financial Results SIGNED FOR IDENTIFICATION PURPOSc~ Y SRBC & CO LLP Astral Limited CIN : L25200GJ1996PLC029134 Registered & Cor porate Office : 'Astral House', 207/1, Behind Rajpath Club , Off S. G. Highway, Ahmedabad -380 059, Gujarat , India. P: +91 79 6621 2000 I F: +9179 6621 2121 I E: info@astralltd .com I W : astralltd.com
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~ ASTRAL Standalone statement of Assets and Liabilities : ASSETS Non-current assets Particulars (a) Property, plant and equipment (b) Capital work-in-progress (c) Goodwill (d) Other Intangible assets (e) Intangible assets under development (f) Right of use assets (g) Financial assets (i) Investments (ii) Loans (iii) Other financial assets (h) Non-current tax assets (i) Other non-current assets Current assets (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Loans (vi) Other financial assets (c) Other current assets Total assets EQUITY AND LIABILITIES Equity (a) Equity share capital (b) Other equity Total non-current assets Total current assets As at September 30, 202S (Unaudited) 19,847 1,568 2,036 61 9 981 4,835 1,566 291 91 267 31,552 9,199 55 2,327 5,412 2 6 129 1,004 18,134 49,686 (Rs. In Million) As at March 31, 2025 (Audited) 19,805 956 2,036 95 - 718 3,707 878 286 91 294 28,866 8,870 - 3,158 5,811 2 11 185 633 18,670 47,536 269 269 37,558 35,689 Total equity 37,827 35,958 I--------'---+------_;_~ Liabilities Non-current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Other financial liabilities (b) Provisions (c) Deferred tax liabilities (Net) SIGNED FOR IDENTIFl[ ION PO,i :§J1 1·..Xited CIN: L25200GJ1996 2913 • 719 241 32 82 566 Total non-current liabilities 1,640 ffi ce: stral House', 207 /1, Behind Raj path Club , Off S. G. Highway, Ahmedaba @1'79 621 2121 I E: info@astralltd .com I W : astralltd.com __________ _, 781 206 - 82 549 1,618 ndia.
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Particulars Current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payables a total outstanding dues of micro enterprises and small enterprises b total outstanding dues of creditors other than micro enterprises and small enterprises (iv) Other financial liabilities (b) Other current liabilities (c) Provisions (d) Current tax liabilities (Net) Total equity and liabilities SIGNED FOR IDENTIFICATION PURPOSESO~ SRBC & CO LLP Astra l Limited CIN: L25200GJ1996PLC029134 Total current liabilities Total liabilities ~ ASTRAL (Rs. In Million) As at As at September 30, 2025 March 31, 2025 {Unaudited) (Audited) 3 3 187 141 565 550 7,655 7,353 1,035 957 609 848 68 18 97 90 10,219 9,960 11,859 11,578 49,686 47,536 Registered & Corporate Offi ce: 'Astral House', 207/1, Behind Rajpath Club, Off S. G. Highway, Ahmedabad - 380 059, Gujarat, India. P: +9179 6621 2000 I F: +9179 6621 2121 I E: info@astralltd.com I W : astralltd.com
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~ ASTRAL Statement of Standalone Cash Flows : (Rs. In Million) Half Year ended Half Year ended Sr Particulars September 30, September 30, No. 2025 2024 (Unaudited) (Unaudited) A Cash flows from Operating Activities Profit before tax 3,304 3,370 Adjustments for : Depreciation and amortisation expense 1,115 911 Finance costs 213 124 Interest income (65) (45) Credit balances written back - (2) Gain on Sale of Mutual funds (Net) (101) (133) (Profit)/Loss on disposal of Property,Plant and Equipment (net) (2) 10 Share based payment expense 7 11 Unrealised foreign exchange loss/(gain) (Net) 16 (16) Operating profit before Working Capital Changes 4,487 4,230 Changes in working capital : (lncrease)/Decrease in Inventories (329) (1,919) (lncrease)/Decrease in Trade receivables, financial assets and other assets 557 47 lncrease/(Decrease) in Trade Payables, financial liabilities, other liabilities and 67 (447) provisions Cash generated from/(used in) from operations 4,782 1,911 Income taxes paid (Net of Refund) (815) (784) Net cash generated from/(used in) Operating Activities [A] 3,967 1,127 B Cash flows from Investing Activities Payment for purchase of property, plant and equipment and intangible assets (1,907) (2,546) (including capital advances and capital creditors) Proceeds from Sale of property, plant and equipment (net) 7 12 Interest Received 17 32 Proceeds from sale of mutual funds (Net) 101 133 (lncrease)/Decrease in other balances with banks 0 (1) Purchase of Equity Shares in Subsidiaries (917) - Purchase of current investments (55) . (150) (lncrease)/Decrease in Loans to Subsidiaries (620) (145) Net Cash flow generated from/(used in) Investing Activities [B] (3,374) (2,665j C Cash flow from Financing Activities Dividend paid (604) (604) Finance Cost paid (215) (108) Proceeds from Long Term Borrowings 64 38 Repayment of Long Term Borrowings (128) - Payment of lease liabilities including interest thereon {109) (63) Net Cash flow generated from/(used in) Financing Activities [C] (992) (737) NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS [A+B+C] (399) (2,275) Cash and cash equivalents at the beginning of the period 5,811 5,669 Effect of exchange differences on restatement of foreign currency cash and 0 0 cash equivalents Cash and Cash Equivalents at the end of the period 5,412 3,394 Note The above Cash Flow Statement has been prepared as per 'Indirect Method' as set out in Ind AS 7 on Statement of i't'i FOR IDENTIFICATION R~ w~ l!·M\ttd Q CIN: L25200GJ1996 ~ 134 Reg~ ered & CoJ:,eorate Office : 'As al House', 207/1, Behind Rajpath Club, Off S. G. Highway, Ahmedabad - 3 R A 9-W9 e&212@@{Q F: -1,91 9 ~ 12121 I E: info@astralltd.com I W : astralltd.com
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~ ASTRAL · Notes: 1 The above results have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on November 5, 2025 and reviewed by the Statutory Auditors of the Company . 2 The Company has presented segment information in the Consolidated Financial Results and accordingly in terms of Ind AS 108 - Operating Segments, no disclosure related to segments are presented in this standalone financial results. 3 The Company has acquired 100% equity shares of Al-Aziz Plastics Private Limited ("Al-Aziz") with effect from April 1, 2025 vide definitive agreements dated April 17, 2025, for a consideration of Rs. 330 million and accordingly it has become wholly owned subsidiary of the Company. Al-Aziz is engaged into the business of manufacturing of fittings and accessories for distribution of water, gas, electricity and solar power . 4 Pursuant to meeting of Board of Directors dated September 4, 2025, the Company has executed Share Purchase Agreement to acquire remaining 5% of equity shares of its Subsidiary Company named Seal IT Services Limited, UK from its existing shareholders at a consideration of GBP 0.40 million (equivalent INR approximately Rs. 48 million including transaction cost). Post acquisition, Seal IT Services Limited, UK has become wholly owned subsidiary of the Company. 5 Pursuant to meeting of Board of Directors dated September 10, 2025, the Company has executed Share Purchase Agreement to acquire remaining 20% of equity shares of its Subsidiary Company named Astral Coatings Private Limited (formerly known as Gem Paints Private Limited) w.e.f. July 1, 2025, from its existing shareholders at a cash consideration of Rs. 750 million . Post acquisition, Astral Coatings Private Limited has become wholly owned subsidiary of the Company. 6 The Board of Directors have approved a payment of interim dividend of Rs. 1.50 per share. (Face value of Re.1/- each). 7 Tax expenses includes current tax and deferred tax (incl. excess/short provision of tax, if any). 8 The figures for the previous periods have been regrouped/reclassified wherever necessary to confirm with the current period's classification. Place : Ahmedabad Date: November 5, 2025 Astra l Limited SIGNED FOR IDENTIFICATION PURPOSE\tl Y SRBC & CO LLP CIN: L25200GJ1996PLC029134 beh P. Engineer Chairman & Managing Director DIN : 00067112 Registered & Corporate Office: 'Astral House', 207 /1, Behind Raj path Club, Off S. G. Highway, Ahmedabad - 380 059, Gujarat, India. P: +9179 6621 2000 I F: +91 79 6621 2121 I E: info@astralltd.com I W: astralltd.com
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SR BC & CO LLP 2 1st Floor, 8 Wing, Privilon Ambli BRT Road, Behind lskcon Temple Chartered Accountants Off SG Highway, Ahmedabad - 380 059 , India Tel : +9 1 79 660 8 3900 Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Astral Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Astral Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") and a joint venture for the quarter ended September 30, 2025 and year to date from April 01, 2025 to September 30, 2025 (the "Statement") attached herewith, 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 (the "Listing Regulations"). 2. The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended , read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company's Board of Directors. 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 oflnterim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants oflndia. 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 Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board oflndia under Regulation 33(8) of the Listing Regulations, to the extent applicable . 4. The Statement includes the results of the following entities: Name of the enti Astral Limited , India Seal It Services Limited, UK Seal It Services Inc., US SISL Bond It Ireland Limited, Ireland Astral Coatings Private Limited (formerly known as Gem Paints Private Limited , India Astral Foundation, India • ~ lastics Private Limited,'India Subsid Subsid Subsidiary Company Subsidia Subsidia Joint Ventu re S R BC & CO LLP, a Limited liabil ity Partne rship with LL P Identity No. AAB-4 3 18 Regd. Office: 22, Cama c Street. Block '8', 3rd fl oor. Kolkata-700 0 16
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SR BC& CO LLP Chartered Accountants 5. Based on our review conducted and procedures perfonned as stated in paragraph 3 above and based on the consideration of the review reports of 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 recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended , read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations , including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of: • Six subsidiaries, whose unaudited interim financial results and other financial infonnation include total assets of Rs. 8,406 million as at September 30, 2025, total revenues of Rs. 1,625 million and Rs. 3,171 million, total net loss after tax of Rs. 138 million and Rs. 308 Million , total comprehensive loss of Rs. 141 million and Rs. 221 Million for the quarter ended September 30, 2025 and the period ended on that date respectively, and net cash outflows of Rs. 225 million for the period from April 01, 2025 to Septembe r 30, 2025 as considered in the Statement which have been reviewed by their respective independent auditors. • A joint venture, whose unaudited interim financial results and other financial information include Group's share of net loss of Rs. 0.08 million and Rs. 0.19 million and Group's share of total comprehensive loss of Rs. 0.08 million and Rs. 0.19 Million for the quarter ended September 30, 2025 and for the period from April 01, 2025 to September 30, 2025 respectively as considered in the Statement which have been reviewed by its independent auditors . The independent auditor's reports on unaudited interim financial results of these entities 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 in respect of these subsidiaries and a joint venture is based solely on the rep01t of such auditors and procedures performed by us as stated in paragraph 3 above . 7. Certain of these subsidiaries and a joint venture are located outside India whose unaudited interim financial results and other financial information 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 standards applicable in their respective countries. The Holding Company ' s management has converted the financial results of such subsidiaries and a joint venture located outside India 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 in so far as it relates to the balances and affairs of such subsidiaries and a joint venture located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Holding Company and reviewed by us.
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SR BC & CO LLP Chartered Accountants 8. Our conclusion on the Statement in respect of matters stated in para 6 and 7 above is not modified with respect to our reliance on the work done and the reports of the other auditors. For S RB C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003 (V ~ pe~~eyans Ravrani Partner Membership No.: 62906 UDIN: 25062906BMGYPI8683 Place: Ahmedabad Date: November 5, 2025
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~ ASTRAL STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ANO HALF YEAR ENDED SEPTEMBER 30, 2025 Sr. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Particulars September 30, Revenue from Operations Other Income Total Income (1+2) Expenses a. Cost of Materials consumed b. Purchases of traded goods c. Changes in inventories of finished goods, work-in-progress and traded goods d. Employee benefits expense e. Finance Costs i. Borrowing Cost ii. Exchange Fluctuation f. Depreciation and amortisation expense g. Other expenses Total Expenses Profit from ordinary activities before share of loss of joint venture and tax (3-4) Share of Profit/{Loss) of joint venture Profit before tax (5+6) Tax expense (Refer Note 6) Net Profit for the period/year (7-8) Other Comprehensive lncome/(loss) (net of tax) Items that will not be reclassified to Profit and Loss Items that will be reclassified to Profit and Loss Total Comprehensive lncome/(loss) for the period/year (9+10) Profit for the period/year Owners of the Company Non-controlling interest Other Comprehensive lncome/(loss) attributable to:- Owners of the Company Non-controlling interest Total Comprehensive lncome/(loss) attributable to:- Owners of the Company Non-controlling interest Paid up Equity Share Capital (Face Value of Re.1/- each) Other Equity excluding Revaluation Reserves Earnings Per Share (of Re. 1/- each) (Not Annualised): - Basic (In Rs.) - Dilut_ed (In Rs.) See accompanying notes to the Consolidated Financial Results SIGNED FOR IDENTIFICATION PURPOs:::s ON[ S RB C & CO LLP Astra l Limited C IN: L25200GJ1996PLC029134 2025 {Unaudited) 15,774 114 15,888 8,954 282 294 1,466 79 81 723 2,210 14,089 1,799 (0) 1,799 451 1,348 " {3) 1,345 1,348 - (2) (1) 1,346 (1) 269 5.02 5.02 Quarter ended June 30, 2025 {Unaudited) 13,612 91 13,703 8,732 215 (696) 1,419 79 44 719 2,093 12,605 1,098 (0) 1,098 306 792 - 90 882 811 (19) 85 5 896 (14) 269 3.02 3.02 (Rs. In Million, except as stated otherwise) Half year ended Year ended September 30, September 30, September 30, March 31, 2024 2025 2024 2025 (Unaudited) (Unaudited) (Unaudited) {Audited) 13,704 29,386 27,540 58,324 88 205 207 413 13,792 29,591 27,747 58,737 8,039 17,686 16,583 34,511 249 497 434 959 90 (402) (413) (278) 1,283 2,885 2,550 5,179 88 158 165 333 14 125 13 80 599 1,442 1,155 2,434 1,942 4,303 4,141 8,494 12,304 26,694 24,628 51,712 1,488 2,897 3,119 7,025 (0) (0) {O) 0 1,488 2,897 3,119 7,025 401 757 837 1,836 1,087 2,140 2,282 5,189 - " " (19) . .. 90 87 95 61 1,177 2,227 2,377 5,231 1,100 2,159 2,304 5,238 (13) (19) (22) (49) 85 83 90 40 5 4 5 2 1,185 2,242 2,394 5,278 (8) (15) (17) (47) 269 269 269 269 35,889 4.10 8.04 8.58 19.50 4.10 8.04 8.58 19.50 Registered & Corporate Office : 'Astral House', 207/1, Behind Rajpath Club, Off S. G. Highway, Ahmedabad - 380 059, Gujarat, India. P: +91 79 6621 2000 I F: +91 79 6621 2121 I E: info@astralltd.com I W : astralltd.com
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Consolidated Statement of Assets and Liabilities: ASSETS Non-current assets Particulars (a) Property, plant and equipment (b) Capital work-in-progress (c) Goodwill (d) Other Intangible assets (e) Intangible assets under development (f) Right of use assets (g) Financial assets (i) Loans (ii) Other financial assets (h) Deferred tax assets (Net) (i) Non-current tax assets {j) Other non-current assets Current assets (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances _0th.er than (iii) above (v) Loans (vi) Other financial assets (c) Current tax assets (Net) (d) Other current assets Total assets EQUIH AND LIABILITIES Equity (a) Equity share capital (b) Other equity Total non-current assets Total current assets Equity attributable to equity share holders of the Parent Non-controlling Interests Liabilities Non-current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Other financial liabilities (b) Provisions (c) Deferred tax liabilities (Net) SIGNED FOR IDENTIFICATION PURPOSE~ ~NLdV ~ Total equity Total non-current liabilities ~ ASTRAL As at September 30, 202S (Unaudited) 21,860 1,864 3,185 991 9 1,687 5 352 138 121 385 30,597 10,763 55 3,715 5,487 11 6 71 5 1,269 21,382 51,979 269 37,491 37,760 37,760 (Rs. in Million) As at March 31, 2025 (Audited) 21,421 1,160 3,146 1,158 - 1,391 2 298 82 118 296 29,072 10,111 - 4,353 6,081 2 13 130 1 797 21,488 50,560 269 35,901 36,170 757 36,927 1-------------------1 942 724 32 87 572 2,357 898 665 86 551 2,200 rat, India.
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Particulars Current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payables a total outstanding dues of micro enterprises and small enterp rises b total outstanding dues of creditors other than micro enterprises and small enterprises (iv) Other financial liabilities (b) Other current liabilities (c) Provisions (d) Current tax liabilities (Net) Total equity and liabilities SIGNED FOR IDENTIFICATION PURPOSt:S ONLY~ SRBC & CO LLP Astra l Limited CIN: L25200GJ1996PLC029134 Total current liabilities Total liabilities ~ ASTRAL (Rs. in million) As at As at September 30, 2025 March 31, 2025 (Unaudited) (Audited) 608 541 282 228 628 587 8,358 8,002 1,073 1,007 736 954 80 24 97 90 11,862 11,433 14,219 13,633 51,979 50,560 Registered & Corporate Office : 'Astral House', 207/1, Behind Rajpath Club, Off S. G. Highway, Ahmedabad - 380 059, Gujarat, India. P: +91 79 6621 2000 I F: +91 79 6621 2121 I E: info@astralltd.com I W : astralltd.com
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~ ASTRAL Statement of Consolidated Cash Flows: (Rs. in Million) Sr Half Year ended Half Year ended Particulars September 30, 202S September 30, 2024 No. (Unaudited} (Unaudited} A Cash flows from Operating Activities Profit before tax 2,897 3,119 Adjustments for : Depreciation and amortisation expense 1,442 1,155 Finance costs 283 178 Interest income (22) (32} Unrealised foreign exchange fluctuations 219 140 Gain on Sale of mutual funds (net) (102) (138) (Profit}/Loss on disposal of Property,Plant and Equipment (net) (6) 9 Share Based payment expense 7 11 Allowance for expected credit loss 4 8 Bad-debts written off - 1 Credit balances written back (0) (2) Share of loss of joint venture 0 0 Operating profit before Working Capital Changes 4,722 4,449 Changes in working capital : (lncrease)/Decrease in Inventories (483} (2,154) (lncrease)/Decrease in Trade receivables, financial assets and other assets 389 (95) lncrease/(Decrease) in Trade Payables, financial liabilities, other liabilities and 77 (433) provisions Cash generated from/(used in) operations 4,705 1,767 Income taxes paid (net of refund) (817) (697} Net cash generated from/(use~ in) Operatjng Activities [A] 3,888 1,070 B Cash flows from Investing Activities Payment for purchase of property, plant and equipment and intangible assets (2,249) (2,821) (including capital advances and capital creditors) Proceeds from Sale of property, plant and equipment (net) 26 13 (lncrease)/Decrease in other balances with banks (0) - Interest Received 15 29 Purchase of current investments (55) (150) Proceeds from sale of mutual funds (net) 102 138 Payment for acquisition of business (330) . - Net Cash flow generated from/(used in) Investing Activities [Bl (2,491} (2,791) C Cash flow from Financing Activities Dividend paid (604) (604) Payment for acquisition of non-controlling interest in Subsidiaries (587) - Finance Cost paid (263) (144) Proceeds from Long Term Borrowings 64 38 Repayment of Long Term Borrowings (288) (13) Payment of lease liabilities including interest thereon (186) (116) Proceeds/ (Repayment) from Short Term Borrowings (157) 32 Net Cash flow generated from/(used in) Financing Activities [C] (2,021} (807) NET INCREASE/(DECREASE} IN CASH AND CASH EQUIVALENTS [A+B+C] (624) (2,528} Cash and cash equivalents at the beginning of the period 6,081 6,094 Cash and cash equivalents acquired from Al-Aziz Plastics Private Limited 30 - Effect of exchange differences on restatement of foreign currency cash and cash 0 0 equivalents Cash and Cash Equivalents at the end of the period 5,487 3,566 Note The above Cash Flow Statement has been prepared as per 'Indirect Method' as set out in Ind AS 7, Statement of Cash Flows. SIGNED FOR IDENTIFICATION URPOSCS ONLY (f) Astral Limited \Q1_.. CIN: L25200GJ1996PLC029134 • ge ere$e C r a e <tffj • s ral House', 207/1, Behind Rajpath Club , Off S. G. Highway, Ahmedabad - 3 ,_ ..H;.-"°'7..%6~1~ ©©@-j-F. 9¥1-9 b""m1 2121 I E: info@astralltd.com I W : astral ltd.com
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~ ASTRAL CONSOLIDATED UNAUDITED SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30,2025 Quarter ended Half year ended Sr. September 30, June 30, September 30, September 30, September 30, No. Segment Information 2025 2025 2024 2025 2024 {Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) 1 Segment Revenue a Plumbing 11,186 9,539 9,664 20,725 19,796 b Paints and Adhesives 4,588 4,073 4,040 8,661 7,744 Income from Operations 15,774 13,612 13,704 29,386 27,540 2 Segment Results a Plumbing 1,571 989 1,323 2,560 2,723 b Paints and Adhesives 313 196 241 509 501 Total 1,884 1,185 1,564 3,069 3,224 Less: Finance costs 160 123 102 283 178 Add: Un-allocated Income/ (Expenses) (net) 75 36 26 111 73 Profit from ordinary activities before share 1,799 1,098 1,488 2,897 3,119 of loss of joint venture, and tax Share of Profit/(Loss) of joint venture (0) (0) (0) (0) (0) Profit before tax 1,799 1,098 1,488 2,897 3,119 3 Segment Assets a Plumbing 29,540 29,386 27,764 . 29,540 27,764 b Paints and Adhesives 16,351 15,776 15,385 16,351 15,385 Total Segment Assets 45,891 4S,162 43,149 45,891 43,149 Unallocated 6,088 5,307 3,996 6,088 3,996 Total Assets 51,979 50,469 47,145 51,979 47,145 4 Segment Liabilities a Plumbing 7,729 6,592 7,235 7,729 7,235 b Paints and Adhesives 3,682 3,45 9 3,429 3,682 3,429 Total Segment Liabilities 11,411 10,051 10,664 11,411 10,664 Unallocated 2,808 2,605 2,012 2,808 2,012 Total Liabilities 14,219 12,656 12,676 14,219 12,676 (i). Main Business Segment are 'Plumbing' & 'Paints and Adhesives'. 'Plumbing' segment includes Pipes & Fittings, Water Tank, Bathware. (ii). The assets and liabilities that cannot be allocated between the segments are disclosed as 'Unallocated'. SIGNED FOR IDENTIFICATION PURPOSES ONLY ~ SRBC & CO LLP Astral Limited C IN: L25200GJ1996PLC029134 (Rs. In Million) Year ended March 31, 2025 (Audited) 41,963 16,361 58,324 6,126 1,150 7,276 413 162 7,025 0 7,025 28,677 15,603 44,280 6,28 0 50,560 7,521 3,432 10,953 2,680 13,633 Reg istered & Corporate Office : 'Astral Hou se', 207/1 , Behind Rajpath Club , Off S. G. Highwa y, Ahrnedabad - 380 059, Gujarat , India . P: +91796621 2000 I F: +91 79 6621 2121 I E: info@astralltd .com I W : astralltd .corn
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~ ASTRAL Notes: 1 The above results have been reviewed by the Audit Committee and approved by the Board of Directors of Holding Company in their meeting held on November 5, 2025 and reviewed by the Statutory Auditors of the Holding Company. 2 The Holding Company, Astral Limited has acquired 100% equity shares of Al-Aziz Plastics Private Limited ("Al-Aziz") with effect from April 1, 2025, vide definitive agreements dated April 17, 2025, for a consideration of Rs. 330 million and accordingly it has become wholly owned subsidiary of the Holding Company. Al-Aziz is engaged into the business of manufacturing of fittings and accessories for distribution of water, gas, electricity and solar power . The Group has accounted the above acquisition as per Ind AS 103, Business Combinations and consideration has been allocated on provisional fair value of acquired assets and liabilities. The financial results including segment information for the current quarter, previous quarter and half year includes financial information of Al-Aziz and hence, not comparable to the previous reported periods. 3 Pursuant to meeting of Board of Directors dated September 4, 2025, the Holding Company has executed Share Purchase Agreement to acquire remaining 5% of equity shares of its Subsidiary Company named Seal IT Services Limited, UK from its existing shareholders at a consideration of GBP 0.40 million (equivalent INR approximately Rs. 48 million including transaction cost). Post acquisition, Seal IT Services Limited, UK has become wholly owned subsidiary of the Holding Company. Acquisition has been accounted for in the quarter and half year ended September 30, 2025, in accordance with Ind AS 110 - Consolidated Financial Statements. 4 Pursuant to meeting of Board of Directors dated September 10, 2025, the Holding Company has executed Share Purchase Agreement to acquire remaining 20% of equity shares of its Subsidiary Company named Astral Coatings Private Limited (formerly known as Gem Paints Private Limited) w.e.f. July 1, 2025, from its existing shareholders at a cash consideration of Rs. 750 million. Post acquisition, Astral Coatings Private Limited has become wholly owned subsidiary of the Holding Company. Acquisition has been accounted for in the quarter and half year ended September 30, 2025, in accordance with Ind AS 110 - Consolidated Financial Statements. 5 The Board of Directors of the Holding Company have approved a payment of interim dividend of Rs. 1.5 per share. (Face value of Re.1/- each). 6 Tax expenses includes current tax and deferred tax (incl. excess/short provision of tax, if any). 7 The figures for the previous periods have been regrouped/reclassified wherever necessary to confirm with the current period's classification . Place : Ahmedabad Date : November 5, 2025 Astra l Limited SIGNED FOR IDENTIFICATION PURPOS[S ONLY(½__ SRBC & CO LLP CIN: L25200GJ1996PLC029134 For and on behalf of the Board of Directors . Engineer hairman & Managing Director DIN : 00067112 Registered & Corporate Office : 'Astral House', 207 /1, Behind Raj path Club, Off S. G. Highway, Ahmedabad - 380 059, Gujarat, India. P: +91 79 6621 2000 I F: +91 79 6621 2121 I E: info@astralltd.com I W : astralltd.com