Interim report
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05th February, 2026 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 05 th February, 2026 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 February, 2026 has inter alia considered and approved Unaudited (Standalone & Consolidated) Financial Results for the Quarter and Nine Months ended on 31 st December,2025 the financial results along with Limited Review Reports are enclosed herewith. The Meeting of the Board of Directors of the Company commenced at 3:00 p.m. and concluded at 3:45 p.m. Kindly take the same on your record. Thanking you, Yours 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 21 st Floor, B Wing, Privilon Ambli BRT Road, Behind lsl<con Temple Chartered Accountants Off SG Highway, Ahmedabad - 380 059, India 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 quarter ended December 31, 2025 and year to date from April 01, 2025 to December 31, 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 Cha1tered 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 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 RB C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003 ~ sRavrani Partner Membership No.: 62906 UDIN: 26062906OZENMC4286 Place: Alunedabad Date: February 5, 2026 SR BC & CO LLP, a Limit ed Liabilit y Partn ership with LLP Identity No. AAB· 43 18 Regd. Offi ce: 22, Camac Streel. Block 'B', 3rd Floor, Kolkata-700 016
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~ ASTRAL STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2025 Sr. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Particulars Revenue from Operations Other Income Total Income (1+2) Expenses a. Cost of Materials consumed b. Purchase 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 before exceptional items and tax (3-4) Exceptional Items (Refer Note 2) Profit before tax (5-6) Tax expense (Refer note 8) 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 Total Comprehensive Income for the period/year (9+10) 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.) - Diluted (In Rs.) See accompanying notes to the Standalone Financial Results SIGNED FOR IDENTIFiCATION PURPOM S ONL y SRB~ & CO LLP Astral Limited CLN: L25200GJ1996PLC029134 Quarter ended December 31, September 30, 2025 2025 (Unaudited) (Unaudited) 13,816 14,161 128 125 13,944 14,286 8,205 7,952 260 262 (193) 311 1,100 1,104 54 45 39 81 571 556 2,043 1,973 12,079 12,284 1,865 2,002 165 - 1,700 2,002 432 503 1,268 1,499 - - 1,268 1,499 269 269 4.72 5.58 4.72 5.58 (Rs. In Million, except as stated otherwise) Nine Months ended Year ended December 31, December 31, December 31, March 31, 2024 2025 2024 2025 (Unaudited) (Unaudited) (Unaudited) (Audited) 12,705 40,048 37,536 52,959 85 406 332 444 12,790 40,454 37,868 53,403 7,835 23,877 22,558 30,981 229 729 643 918 (489) (SOS) (774) (198) 1,012 3,308 3,029 4,086 59 142 170 226 52 164 65 80 498 1,686 1,409 1,922 1,900 5,884 5,704 7,801 11,096 35,285 32,804 45,816 1,694 5,169 5,064 7,587 - 165 - - 1,694 5,004 5,064 7,587 435 1,271 1,301 1,924 1,259 3,733 3,763 5,663 - - - (14) 1,259 3,733 3,763 5,649 269 269 269 269 35,677 4.69 13.90 14.01 21.08 4.69 13.90 14.01 21.08 Registered & Corporate Office : 207/1, 'Astral House', B/h Rajpath Club, off S. G. Highway, Ahmedabad - 380059, 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 Notes: 1 The above results have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on February 5, 2026 and reviewed by the Statutory Auditors of the Company. 2 On November 21, 2025, The Government of India has consolidated multiple existing labour legislations into a unified framework comprising four Labour Codes collectively referred to as the 'New Labour Codes'. Under Ind AS 19, changes to employee benefit plans arising from legislative amendments constitute a plan amendment, requiring recognition of past service cost immediately in the Statement of Profit and Loss. The New Labour Codes has resulted in estimated one time increase in provision for employee benefits of the Company amounting to Rs. 165 million . Given its materiality and regulatory-driven , non-recurring nature, this impact is presented under "Exceptional Items" in the standalone results for the quarter and nine months ended December 31, 2025. The Government of India is in the process of notifying related rules to the New Labour Codes and impact of these will be evaluated and accounted for in accordance with applicable accounting standards in the period in which they are notified . 3 The Company has executed Share Purchase Agreement on November 5, 2025, to acquire 80% of equity shares of Nexelon Chem Private Limited w.e.f. October 1, 2025, at a cash consideration of Rs. 0.08 million and accordingly it has become subsidiary of the Company. Nexelon Chem Private Limited, yet to commence its operations, is proposed to be engaged in the manufacturing of CPVC resin and other chemical products. 4 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. 5 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. 6 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. 7 The Company has presented segment information in the Consolidated Financial Statement and accordingly in terms of Ind AS 108- Operating Segments, no disclosure related to segments are presented in this standalone financial results. 8 Tax expenses includes current tax and deferred tax (incl. excess/short provision of tax, if any). Place : Ahmedabad Date : February 5, 2026 Astral Limited ' I _,,\ •·- ' l LLPI CIN : L25200GJ1996PLC029134 on Registered & Co rporate Office : 207 /1, 'Astral House', B/h Rajpath Club, off S. G. Highway , Ahrnedabad - 380059 , Gujarat , India . P: +91 79 6621 2000 I F: +91 79 6621 2121 I E: info@astralltd .com I W : astralltd .corn
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SR BC & CO LLP 21st Floor, B Wing, Privilon Ambli BRT Road, Behind lskcon Temple Chartered Accoun t ants Off SG Highway, Ahmedabad - 380 059, India Tel : +91 79 6608 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 December 31, 2025 and year to date from April O 1, 2025 to December 31, 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 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 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 of India 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 Al-Aziz Plastics Private Limited, India (w.e.f. April 1,2025 ,,,.,;:;==F;:sl:f:!~elon Chem Private Limited, India (w.e.f. 1,2025 Subsid Subsidiary Company Subsidiary Company Subsidiary Company es Limited, Ken a Joint Venture ti) p r review conducted and procedures perfotmed as stated in paragraph 3 above and based - dera~ion of the review report~ of other auditors referr~d to in paragraph 6 bel<?w, nothing t'..t'\,.n-i-.,tto our attention that causes us to believe that the accompanying Statement , prepared in SR BC & co LLP. a Limited Liability Partn ership with LLP Identity No. AAB-4318 Regd. Office: 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016
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SR BC& COLLP Chartered Accountants 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: • Seven subsidiaries, whose unaudited interim financial results and other financial information include total revenues of Rs. 1,605 million and Rs. 4,776 million, total net loss after tax of Rs. 189 million and Rs. 497 Million , total comprehensive loss ofRs. 180 million and Rs. 401 Million for the quarter ended December 31, 2025 and the period ended on that date respectively, 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. 0.27 million and Group's share of total comprehensive loss of Rs. 0.08 million and Rs. 0.27 Million for the quarter ended December 31, 2025 and for the period from April 01, 2025 to December 31, 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 report of such auditors and procedures performed by us as stated in paragraph 3 above. 7. Ce.rtain 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. 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~ reyans Ravrani Partner Membership No.: 62906 UDIN: 26062906JROA YH5123 Place: Ahmedabad Date: February 5, 2026
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~ ASTRAL STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2025 (Rs. In Million, except as stated otherwise) Quarter ended Nine Months ended Year ended Sr. Particulars December 31, September 30, December 31, December 31, December 31, March 31, No. 2025 2025 2024 2025 2024 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1 Revenue from Operations 15,415 15,774 13,970 44,801 41,510 58,324 2 Other Income 95 114 118 300 325 413 3 Total Income (1+2) 15,510 15,888 14,088 45,101 41,835 58,737 4 Expenses a. Cost of Materials consumed 9,207 8,954 8,612 26,893 25,195 34,511 b. Purchases of traded goods 277 282 237 774 671 959 c. Changes in inventories of finished goods, (236) 294 (449) (638) (862) (278) work-in-progress and traded goods d. Employee benefits expense 1,477 1,466 1,298 4,362 3,848 5,179 e. Finance Costs i. Borrowing Cost 87 79 87 245 252 333 ii. Exchange Fluctuation 39 81 52 164 65 80 f. Depreciation and amortisation expense 734 723 631 2,176 1,786 2,434 g. Other expenses 2,317 2,210 2,077 6,620 6,218 8,494 Total Expenses 13,902 14,089 12,545 40,596 37,173 51,712 5 Profit before exceptional item, share of 1,608 1,799 1,543 4,505 4,662 7,025 profit/(loss) of joint venture and tax (3-4) 6 Share of Profit/(Loss) of joint venture (OJ (Ol (ll (Ol (1) 0 7 Profit before exceptional items and tax 1,608 1,799 1,542 4,505 4,661 7,025 (5+6) 8 Exceptional Items (Refer Note 2) 165 - - 165 - - 9 Profit before tax (7-8) 1,443 1,799 1,542 4,340 4,661 7,025 10 Tax expense (Refer Note 7) 366 451 416 1,123 1,253 1,836 11 Net Profit for the period/year {9-10) 1,077 1,348 1,126 3,217 },408 5,189 12 Other Comprehensive lncome/{loss) (net of tax) Items that will not be reclassified to Profit - - - - - (19) and Loss Items that will be reclassified to Profit 9 (3) (77) 96 18 61 and Loss 13 Total Comprehensive lncome/{loss) for the 1,086 1,345 1,049 3,313 3,426 5,231 period/year (11+12) 14 Profit for the period/year Owners of the Company 1,077 1,348 1,141 3,236 3,445 5,238 Non-controlling interest (O) - (15) (19) {37) (49) 15 Other Comprehensive lncome/{loss) attributable to:- Owners of the Company 9 (2) (73) 92 17 40 Non-controlling interest - (1) (4) 4 1 2 16 Total Comprehensive lncome/(loss) attributable to:- Owners of the Company 1,086 1,346 1,068 3,328 3,462 5,278 Non-controlling interest (0) (1) (19) (15) (36) (47) 17 Paid up Equity Share Capital (Face Value of 269 269 269 269 269 269 Re.1/- each) 18 Other Equity excluding Revaluation Reserves 35,889 19 Earnings Per Share (of Re. 1/- each) (Not Annualised): - Basic (In Rs.) 4.01 5.02 4.25 12.05 12.82 19.50 - Diluted (In Rs.) 4.01 5.02 4.25 12.05 12.82 19.50 See accompanying notes to the Consolidated Financial Results ~~. SIGNED FOR IDENTIFICATION / L L/111 PURPt SONLV i/~~~,;~' ;, I ~ O\J * * S RB C & c o LLP :"1~/1 ~ <. '1?'£D p.. ~ ~ Astra l L1m1ted_ CIN: L25200GJ1996PLC029134 Registered & Corporate Office : 207 /1, 'Astral House', B/h Raj path Club, off S. G. Highway, Ahmed a bad - 380059, 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 CONSOLIDATED UNAUDITED SEGMENTWISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2025 Quarter ended Nine Months ended Sr. December 31, September 30, December 31, December 31, December 31, No. Segment Information 2025 2025 2024 2025 2024 (Unaudited} (Unaudited} (Unaudited} (Unaudited} {Unaudited} 1 Segment Revenue a Plumbing 10,720 11,186 9,901 31,445 29,697 b Paints and Adhesives 4,695 4,588 4,069 13,356 11,813 Income from Operations 15,415 15,774 13,970 44,801 41,510 2 Segment Results a Plumbing 1,386 1,571 1,405 3,946 4,128 b Paints and Adhesives 297 313 235 806 736 Total 1,683 1,884 1,640 4,752 4,864 Less: Finance costs 126 160 139 409 317 Add: Un-allocated Income/ (Expenses) (net) 51 75 42 162 115 Profit before exceptional item, share of 1,608 1,799 1,543 4,505 4,662 profit/(loss) of joint venture and tax Share of Profit/(Loss) of joint venture (0) (0) (1) (0) (1) Profit before exceptional items and tax 1,608 1,799 1,542 4,505 4,661 3 Segment Assets a Plumbing 30,498 29,540 28,640 30,498 28,640 b Paints and Adhesives 16,461 16,351 15,187 16,461 15,187 Total Segment Assets 46,959 45,891 43,827 46,959 43,827 Unallocated 5,704 6,088 3,375 5,704 3,375 Total As~ets 52,663 51,979 47,202 52,663 47,202 4 Segment Liabilities a Plumbing 7,849 7,729 7,127 7,849 7,127 b Paints and Adhesives 4,009 3,682 3,041 4,009 3,041 Total Segment Liabilities 11,858 11,411 10,168 11,858 10,168 Unallocated 2,361 2,808 1,915 2,361 1,915 Total Liabilities 14,219 14,219 12,083 14,219 12,083 (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 ~ S RB C & CO LLP Astra l Limited CIN : 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 6,280 50,560 7,521 3,432 10,953 2,680 13,633 Registered & Corpor ate Office : 207 /1, 'Astral House', B/h Raj path Club, off S. G. Highway, Ahmedabad - 380059, Gujarat, India . P: +9179 6621 2000 I F: +91 79 6621 2121 I E: info@astralltd .com I W: astral ltd .corn
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A 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 February 5, 2026 and reviewed by the Statutory Auditors of the Holding Company. 2 On November 21, 2025, The Government of India has consolidated multiple existing labour legislations into a unified framework comprising four Labour Codes collectively referred to as the 'New Labour Codes'. Under Ind AS 19, changes to employee benefit plans arising from legislative amendments constitute a plan amendment, requiring recognition of past service cost immediately in the Statement of Profit and Loss. The New Labour Codes has resulted in estimated one time increase in provision for employee benefits of the Group amounting to Rs. 165 million. Given its materiality and regulatory-driven, non-recurring nature, this impact is presented under "Exceptional Items" in the Consolidated results for the quarter and nine months ended December 31, 2025. The Government of India is in the process of notifying related rules to the New Labour Codes and impact of these will be evaluated and accounted for in accordance with applicable accounting standards in the period in which they are notified. 3 The Holding Company has executed Share Purchase Agreement on November 5, 2025, to acquire 80% of equity shares of Nexelon Chem Private Limited w.e.f. October 1, 2025, at a cash consideration of Rs. 0.08 million and accordingly it has become subsidiary of the Holding Company. Nexelon Chem Private Limited, yet to commence its operations, is proposed to be engaged in the manufacturing of CPVC resin and other chemical products. Acquisition has been accounted as an asset acquisition in the quarter and nine months ended December 31, 2025. 4 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 fair value of acquired assets and liabilities . The financial results including segment information for the current quarter, previous quarter and nine months ended December 31, 2025 includes financial information of Al-Aziz and hence, not comparable to the previous reported periods. 5 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 nine months ended December 31, 2025, in accordance with Ind AS 110 - Consolidated Financial Statements. 6 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 nine months ended December 31, 2025, in accordance with Ind AS 110 - Consolidated Financial Statements . 7 Tax expenses includes current tax and deferred tax (incl. excess/short provision of tax, if any). Place: Ahmedabad Date : February 5 2026 ..----------- .. SIGNED FOR IDENTIFICATION PURPOS~ ONL Y SR BC ~ CO LLP Astral Limited .CIN :. L25200GJ1996PLC02_9134 . For and on be f the Board of Directors .J) Sandeep P. Engineer Chairman & Managing Director DIN : 00067112 Registered & Corporate Office : 207 /1, 'Astral House', B/h Raj path Club, off S. G. Highway, Ahmedabad - 380059, Gujarat, India. P: +91 79 6621 2000 I F: +91 79 6621 2121 I E: info@astralltd.com I W : astralltd.com