Interim report
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October 30, 2026 To, The Manager – Listing Department National Stock Exchange of India Limited 5, Exchange Plaza Bandra-Kurla Complex Bandra (East), Mumbai 400051 To, The Manager – Listing Department BSE Limited Floor 25, P.J.Towers, Dalal Street, Mumbai 400 001 Symbol: FINPIPE Scrip Code: 500940 Sub: Outcome of the Board Meeting held on Friday, October 30, 2026 Ref: Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) Dear Sir / Madam, In terms of the subject referred regulations, the Board of Directors of the Company at its meeting held on Friday, October 30, 2026, inter-alia, approved and taken on record the following: 1. The Unaudited (Standalone & Consolidated) Financial Results of the Company for the Quarter and Half Year ended September 30, 2026, along with the Limited Review Report issued by M/s. Walker Chandiok & Co LLP , Chartered Accountants, Statutory Auditors of the Company, pursuant to Regulation 33 of SEBI Listing Regulations. In compliance with Regulation 46 of the SEBI Listing Regulations, the information is also being uploaded on the website of the Company at https://www.finolexpipes.com/ The aforesaid Board Meeting commenced at 07:00 p.m. (IST) and concluded at 09:15 p.m. (IST) You are requested to take the above on your records. Thanking you, Yours faithfully, For Finolex Industries Limited Dakshinamurthy Iyer Company Secretary & Head Legal M. No. A13004 Encl.: As above
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Walker Chandiok & Co LLP Walker Chandiok & Co LLP 42nd Fleor, Building Commerz Ill, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai-400063 T +0122 6626 2699 Independent Auditor’s Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Finolex Industries Limited We have reviewed the accompanying statement of standalone unaudited financial results (‘the Statement’) of Finolex Industries Limited (‘the Company’) for the quarter ended 30 September 2026 and the year to date results for the period 1 April 2026 to 30 September 2026, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (‘Listing Regulations’). The Statement, which is the responsibility of the Company’s management and approved by the Company’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (‘Ind AS 34’), prescribed under section 133 of the Companies Act, 2013 (‘the Act’), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Based on our review conducted as above and the consideration of the review report of the auditor of Finolex Industries Employees’ Welfare Trust (the ‘Welfare Trust') as referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Chartered Accountants Walker Chandiok & Co LLP is registered with limited liability with identification Offces in Ahmedabad, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Dehradun, Goa, Gurugram, Guwahat, Hydersbad, Indore, number AAC-2085 and has its registered Jaipar, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India
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Walker Chandiok & Co LLP Independent Auditor’s Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of Finolex Industries Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont’d) We did not review the interim financial information of the Welfare Trust included in the Statement, whose financial information reflects total assets of ¥42.44 crore as at 30 September 2026 and total revenues of ZNil crore and 2Nil crore, total net (loss)/profit after tax of ¥(4.53) crore and %1.02 crore, and total comprehensive (loss)income of ¥(4.53) crore and ¥1.02 crore, for the quarter and six-month period ended on 30 September 2026, respectively, and net cash outflows of %0.07 crore for the period ended 30 September 2026 as considered in the Statement. This interim financial information has been reviewed by the other auditor, whose report has been furnished to us by the management, and our conclusion, in so far as it relates to the amounts and disclosures included in respect of the Welfare Trust is based solely on the review report of such other auditor of the Welfare Trust. Our conclusion is not modified in respect of this matter with respect to our reliance on the work done by and the report of the other auditor. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 Rajni Coysnes by Rajni Mundra Date 20261030 Mundra 21536 o530 Rajni Mundra Partner Membership No.: 058644 UDIN: 26058644ETIQVL6787 Place: Mumbai Date: 30 October 2026 Chartered Accountants
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Registered Office / Urse Plant Tel +91 2114 237251/ 237253 Finolex Industries Limited Toll Free 1800 200 3466 Gat No. 399, Village Urse, Tal -Maval Fax +91 2114 237252 Dist. Pune 410 506, Maharashtra, India Email investors@finolexind.com CIN L40108PN1981PLC024153 Web finolexpipes.com FINOLEX INDUSTRIES LIMITED Registered Office: Gat No. 399, Village Urse, Taluka Maval, Dist. Pune - 410 506. CIN: L40108PN1982PLC024153 Statement of Unaudited Standalone Financial Results for the quarter and half year ended September 30, 2026 (Al amounts n % Crore, except earmings per share] Quarter ended Holl year ended Vear ended se. ol Particulors Septembber 30,2026 | lune 30,2026 | Septenioer 30, 2025 | September 30, 2026 Sepiember 36, 2025 Merch 31, 2026 (Unaudited) (Urauditea) (Uraudiied) (Unaudited) (Unaudiced) (Audiieg) T income Revenue from operations 10933 88358 85874 197758 190189 11343 Other income 59.97 7533 5960 135.30 12428 2321 Total income () 115393 55851 51834 21288 202617 Ta266¢ U |Expenses Cost of materials consumed 689.15 758 65308 11673 1,28820 259798 Purchases of stock-n-trade 1830 1088 500 310 1055 6152 (Changes n inventores of finished goods, stock-in-trade and work in-progress 3015 9717 (17185) 132 (10368) (283.25) Employes benefits expense o217 5512 5201 10229 11036 20260 Finance costs 334 587 430 1021 581 2058 [beprecation and amortisatien expenses 2823 2747 274 5570 5405 10675 Other expenses 18084 18230 18433 36710 0 79572 Total expenses (i} 100118 81135 76031 181253 174199 356190 - |profit before tax (1) 15215 14755 15803 30031 28418 75678 W |1ax expense current tax 0.6 3989 729 035 o713 1sL1 Tax pertaining o earler periocs) year(s) - > - - @53) (233) Deterrea tax (creain/ charge: (2009) 026 154 (5.23) 347 556 Toual tax expense 3037 .15 T 7052 505 440 v |rofictor the periodyear (i-v) 12238 orar 5% 22975 FECEE) ERE Vi |oter comprehensive income (0ci) tems that will not be reciassified to profi ar [oss Re-measurement o defined bereft plans (178) (008) t0.7) (w78 0331 060 Income-tax effect an avove 0.4 001 004 0.5 o8 ©13) VI() | Ke-measurement of defined benefit lans, et of income-tax (130) ©93) To13) w33 ©oan 045 Fair value changes I equity Instruments through OO 62320 87173 (359.76) 149497 (21277) (30263) Income-ax ffect on above (89.12) (120.66) 5145 213.78) 306 34 i) Gainj (l0ss) on equity nstruments measured at air value through 0CI, 5.2 741.07 (30831) 128119 T18234) (25921] netof income-tax | Total other comprehensive income/(loss) (VI VI(i}} 528 4Tk [ESXZ) 127586 [FEEGY) (z5876] VI |Total comprehensive income /(loss) forthe period/year (V+v1) 655.20 5445 (18524) 150965 35 2158 Vi | Paid-up cquity share capital (face value of %2 each} 12367 12367 12367 12367 12367 12367 X |Other equity 595369 X | Earnings per equity share having nominal value of € 2 each per share (Not annualised, except for the year ended March 31, 2026) sasic 198 178 193 372 330 935 oiluted 198 174 183 sn 330 539 Corporate Office Finolex Industries Limited IndiQube ‘The Kode’ - 11th Floor, §. No. 134, Hissa No. 1/38, Tel Baner Pashan Link Road, Fax Pune - 411045, Email Maharashtra, India Web +091 20 27408200 +91 20 27489000 care@finolexpipes.com finolexpipes.com
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Unaudited Standalone Balance Sheet as at September 30, 2026 (ANl amounts in X Crore) Particutars September 30, 2026 March 31, 2026 ASSETS 1 |Non-current assets (a) Property, piant and equipment 990.33 1,006.16 (b) Capital work-in-progress 252 2785 (c) Right-of-use assets 5.46 838 (d) Intangible assets 287 285 (e) Financial assets i) Investments 371203 234881 ii) Loans, - 001 ifl) Other financial assets 858 1488 (f) Income-tax assets (net) 1262 1078 (g) Other non-current assets 18.64 1044 Total non-current assets. 4,773.95 3,439.13 2 |Current assets (a) inventories 879.93 1,025.96 (0) Financial assets i) Investments 2,254.98 243275 ii) Trade receivables 3230 6231 iii) Cash and cash equivalents 537 3140 v) Bank balances other than 10148 290 v) Loans 7.38 757 vi) Other financial assets 301.57 273 (<) Other current assets 5391 7695 [Totaf current assets 3,928.06 3,968.57 Total assets 8,702.01 7,407.70 B |EQUITY AND LIABILITIES 1 |equity (a) Equity share capital 12367 12367 (6) Other equity 7,292.30 5,95369 Total equity 7,416.97 6,077.36 LIABILITIES 2 [Non current liabilities (2] Financial lizbilities ) Lease liabilities 027 197 ii) Other financial liabilities 110 089 (b) Provisions 19.04 1790 (c) Deferred tax liabilities (net) 365.10 16160 (c) Government grants 2205 28.35 Total non-current lia 407.56 21072 3 |current liabilities (a) Financial liabilities i) Borrowings 137.02 3732 ii) Lease labilities 5.07 635 iii) Trade pavables 2) total outstanding dues of micro enterprises and small enterprises; and 25.29 2395 b) total outstanding dues of creditors other than micro enterprises and small enterprises 309.30 34248 Other financial liabi 27595 198.61 (b) Other current liabilities 5247 5865 (c) Provisions 25.88 302 (u) Current tax liabilities (net) 3338 1662 (e) Government grants 1262 1262 Total current liabilities 877.48 111962 Total liabilities 1,285.08 1,33031 Total equity and liabilities 8.702.01 7.407.70
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Unaudited Standalone Statement of Cash Flows for the half year ended September 30, 2026 {All amounts in % Crore) SrNo Particulars September 30,2026 | September 30, 2025 | [Cash flows from operating activities Profit before tax 30031 284.18 Adjustments for: Depreciation and amortisation expenses 55.70 54.05 Gain on disposal of investments (net) (102.08) (16.27) Loss/ (gain) on fair valuation of investments 3665 (21.99) Gain on disposal of property, plant and equipment (net) (0.06) (138) Dividend income (24.63) (19.62) Unwinding of government grant income (6.31) (6:31) Interest income (40.16) (34.22) Unrealised exchange fluctuation loss (net) 068 097 Finance costs 1021 081 Operating profit before working capital changes 23027 2522 Change in operating assets and liabilitics Inventories 146.03 33.49 Trade receivables 38.87 5400 Loans 086 136 Other financial asscts (276.90) 198 Other current assets 2320 (52.49), (Government grants (net) 429 458 Trade payables (31.93) (133.48)] Provisions 220 (5.55) Other financiai liabilities 83.83 (63.85)| (Other current liabilities (6.17) 1350 (Cash used in working capital changes (15.68)] (146.46) Less - Income-tax paid (net) (64.93)] (61.13) Net cash generated from operating activities 149.66 1163 Il [Cash fiow from investing activities Proceeds from disposal of property, plant and equipment 026 617 Purchase of property, plant and equipment (including capital work-in-progress and (36.61) (25.42) capital advances) Investments purchased (net) 37541 383.77 Dividend income received 465 - (Investment in) /redemption of fixed deposits (net) (71.49) 2212 Interest income received 37.00 2074 [Net cash generated from investing activities 30927 40738 I |Cash flow from financing activities Finance costs paid (1079) (10.85)| Repayment of short-term borrowings (net) (300.85), (211.29) Payment of principal lease liabilities (298) (462) Payment of interest on lease fiabil (0.30) (057) Dividend paid (170.04); (213.71) |Net cash used in financing activities (a84.96) (440.64) IV |Net decrease in cash and cash equivalents (1+ii+i1l) (26.03) (2163) V. |Cash and cash cquivalents at the beginning of the period 3140 4439 [Vi__|cash and cash equivalents at the end of the period (IV+V) 537 2276 The above Statement of Cash Flows has been prepared under the In Flows. ct Method' as set out in Indian Accounting Standard 7-Statement of Cash
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Notes 1 The standalone financial results of Finolex Industries Limited ('fIL') for the quarter and half year ended September 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on October 30, 2026 and a limited review of the same has been carried out by the statutory auditor of FIL. 2 These results have been prepared in accordance with the recogaition and measurement principles laid down in the Indian Accounting Standard (Ind AS) 34, 'Interim Financial Reporting’ prescribed under section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). 3 FiL has a single operating segment comprising the manufacturing and sale of piges and fittings. Accordingly, no separate segment disclosures are required under Ind AS 108. s Previous year/periods figures have been rearranged/ re-grouped, wherever considered necessary, to make them comparable with those of the current year/ period. 8y order of the Board of Directors For Finolex Industries Limited AGARWAL S5 == Udipt Agarwal Mznaging Director DIN: 11219144 Place: Mumbai Date: October 30, 2026
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Walker Chandiok & Co LLP Walker Chandiok & Co LLP 42nd Fleor, Building Commerz Ill, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai-400063 T +0122 6626 2699 Independent Auditor’s Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Finolex Industries Limited We have reviewed the accompanying statement of unaudited consolidated financial results (‘the Statement’) of Finolex Industries Limited (‘the Holding Company’) and its associates (refer Annexure 1 for the list of associates included in the Statement) for the quarter ended 30 September 2026 and the consolidated year to date results for the period 1 April 2026 to 30 September 2026, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations’). This Statement, which is the responsibility of the Holding Company’s management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (‘Ind AS 34'), prescribed under section 133 of the Companies Act, 2013 (‘the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable. Chartered Accountants Walker Chandiok & Co LLP s registered with imited liabilty with identification Offces in Ahmedabad, Bengalurs, Bhubaneswar, Chandigarh, Chenna, Dehradun, Goa, Gurugram, Guwahas, Hyderabad, Indore, number AAC-2085 and has its registered Jaipar, Kochi, Kolkats, Mumba, New ek, Noida and Pune office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India
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Walker Chandiok & Co LLP Independent Auditor’s Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of Finolex Industries Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont’d) Based on our review conducted and procedures performed as stated in paragraph 3 above and upon consideration of the review reports of the other auditors referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. The Statement includes the Holding Company’s share of net profit after tax of 21.46 crore and ¥1.65 crore and total comprehensive income of 1.50 crore and 21.71 crore, for the quarter and six-month period ended on 30 September 2026, respectively, as considered in the Statement, in respect of two associates, whose interim financial results have not been reviewed by us. These interim financial results have been reviewed by other auditors whose review reports have been furnished to us by the management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these associates is based solely on the review reports of such other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter with respect to our reliance on the work done by and the reports of the other auditors. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 Rajni Digitally signed by Rajni Mundra Mundra s s Rajni Mundra Partner Membership No. 058644 UDIN: 26058644PIKCRG1156 Place: Mumbai Date: 30 October 2026 Chartered Accountants
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Walker Chandiok & Co LLP Annexure 1 to the Independent Auditor’s Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of Finolex Industries Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) Annexure 1 List of entities included in the Statement Associates: 1) Finolex Plasson Industries Private Limited; and 2) Pawas Port Limited (This space has been intentionally left blank) Chartered Accountants
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Registered Office / Urse Plant Tel +91 2114 237251 / 237253 Finolex Industries Limited Toll Free 1800 200 3466 Gat No. 399, Village Urse, Tal.-Maval, Fax +91 2114 237252 Dist. Pune 410 506, Maharashtra, India Email investors@finolexind com CIN L40108PN1981PLC024153 Web finolexpipes.com FINOLEX INDUSTRIES LIMITED Registered Office: Gat No. 399, Village Urse. Taluka Maval, Dist. Pune - 410 S06. CIN: L40108PN1981PLC024153 Statement of Unaudited Consolidated Financial Results for the quarter and half year ended September 30, 2026 (Al amounts in € Crore, except sarnings per share) Guarter ended Half vear ended Year ended fs.No Particulars September30, 2026 June 30,2025 | September 30, 2025 September 30, 2026 | Seotember 30, 2025 | March 31,2026 (Unaudited) (Uraudited) (Unaudited) (Unaudited) (Unaudited) (Auditeg) T [income Revenue from operations 109396 58358 as87s 197754 150183 sansas Otrer income 5533 7533 5775 13066 12243 21136 Total income (1} 114529 S851 155 2,108.20 202032 432479 W |Expenses (Cast of materisls consumed 68915 758 659.08 111673 128820 259758 Purchases ofstockintrade 1830 108 500 3.4 1055 6152 Changes in inventories of iished goods, siockcintrade and worl 5015 o727 (27185) 127.52 (103.58) (283.25) Employe benefts expense a1 512 s20 10229 11036 20250 Finance costs 338 587 430 1021 981 2058 Depreciation and amorisation expenses »7 2747 7748 5570 se0s 10875 ther expenses 1848 18230 18033 367.14 37270 7572 Totat expenses (1) 100118 81135 75031 181253 174195 356150 i [Profitbefore share of profit of investment in asociates accounted for using p— v T 10587 p— _— ‘equity method and tax (I-Il} IV share of profit of investment in assaciates accounted for using cquity method 197 024 992 22 17 a5 v |Profitbefore tax (1) 150.08 14780 16610 297.88 29706 8050 VI [Tax expense Current tax 2218 057 w021 275 733 18370 Tax pertaining to earier period(s)/ year(s) . . . p @) (218) Deferred tax (crecit)/charge (.12) (729) 233 (18.2) 557 14.47 Totaltax expense 3506 3328 258 834 7535 20555 Vil |prafit for the period/year* (v-VI) 1502 a5 5% 22950 =in 55905 Vil |Other comprehensive income (0Ci) ems that willnot be recassified to profit or loss Re-measurement of defined benefit plans (w70) o) ©017) () (035) o074 Income-ax sffoct an above 0. 001 001 0.15 oce ©15) | V(]| Re-moasuremant of dafinad benafit plans, net of income-tax was) 000 =] (&) P (e [T ——————— 20 ) (359.75) 140887 G1277) (209.63) Income.tax effect on above (s0.12) 172.66) s145 1378) a3 ey} Vi G155 o ecuiey nsruments measured st e value through OCI sa12 4707 (08 31] 128119 (EED) se21) net of income-tax Total other comprehensive income/loss)* [V} S 4707 TR aa] 1798 GEren [EX) X |Total comprehensive income! (loss) for the periad/year® (Vile\l) (5] G Tira ) 50947 ECRE) W X _[Paid-up acuity share capital (face value of €2 each) 12367 12367 12367 12367 12367 12367 X1 |Other equity &1 X1t | Earnings per equity share having nominal value of ¥ 2 each per share , except for the year ended March 31, 2026) 186 185 200 3 150 560 136 185 200 BN 358 s6e *Profit for the period/ year, total other comprehensive income/{(0ss) and total comprehensive income/(loss) for the period/ year are entirely attrbutabl to the owners of FL. Corporate Office Finolex Industries Limited IndiQube ‘The Kode’ - 11th Floor, S. No. 134, Hissa No. 1/38, Tel +91 20 27408200 Baner Pashan Link Road, Fax +01 20 27489000 Pune - 411045, Email care@finolexpipes.com Maharashtra, India Web finolexpipes.com Ratnagin lant Pipes Division
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Unaudited Consolidated Balance Sheet as at September 30, 2026 (All amounts in X Crore) Particulars September 30,2026 | March 31. 2026 ASSETS 1 |Non-current assets (a) Property, plant and equipment 990.33 1,00616 (b) Capital work-in-progress 252 27.85 (c) Right of use assets 546 238 (@) intangible assets 287 285 (&) Investment in assaciates accounted for using equity method 19250 195.42 (1) Financial assets ) Investments 3,705.38 234126 ii) Loans - 001 il Other financial assets 858 1488 (g) Income-tax assets (net) 12.62 1079 (h) Other non-current assets 1865 19.44 Total non-current assets 4,95891 3,627.00 2 |currentassets (3) Inventories 879.93 1,025.96 (b) Financial assets i) Investments 2,254.98 242275 1) Trade recelvables 32348 36231 iii) Cash and cash equivalents 537 3140 iv) Bank balances other than (ii) above 10148 28.90 V) Loans 7.38 757 Vi) Other financial assets 30157 273 (c) Other current assets 53.91 76.95 Total current assets 3,928.06 3,968.57 [Total assets 8,886.97 759557 B |EQUITY AND LIABILITIES 1 |Equity (a) Equity share capital 12367 12367 (b) Other equity 7.430.47 6091.04 Total equity 7,554.14 621471 LnBILITIES 2 |Non-current liabilities (a) Financial liabilities 1) Lease liabilities 027 197 i) Other financial liabilities 110 089 {b) Provisions 19.08 17.90 (c) Deferred tax liabilties (net) 41289 2212 (d) Government grants 22,05 2836 Total non-current liabilities 45535 26120 3 |Current liabilities (2) Financial iabilities i) Borrowings 137.02 23732 1) Lease iabilities 507 635 il Trade payables a) total outstanding dues of micro enterprises and small enterprises; and 2529 295 ) total outstanding dues of creditors other than micro enterprises and small enterprises 30930 34248 i) Other financial lisbilities 27595 19861 (b) Other current liabilities 5247 5865 (c) Provisions 25.88 202 (d) Current tax iabllities (net) 3388 1662 (&) Government grants 1262 1262 Total current labilities 877.48 111962 Total s 133282 1,280.86 [Total equity and llabilities 8,886.97 7.59557
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Unaudited Consolidated Statement of Cash Flows for the half year ended September 30, 2026 {Allamounts in % Crore) Particulars September 30,2026 |_September 30, 2025 I |Cashflows from operating activities Profit before tax 297.88 297.06 Adjustments: Share in profit of associates companies (221) (14.73) Depreciation and amortisation expenses 55.70 5405 Gain on disposal of investments (net) (102.08)] (46.27) Loss/ (gain) on fair valuation of investments 3665 (21.99) Gain on disposal of property, plant and equipment (net) (0.06) (1.38) Dividend income (19.99) ar.77) [Unwinding of government grant income (631) (6.31) Interest income (40.16) (34.22) Unrealised exchange fluctuation loss (net) 0.64 097 Finance costs 1021 a8t Operating profit before working capital changes 23027 21922 Changes in operating assets and liabilities Inventories 146.03 33.09 Trade recelvables 38.87 54.00 Loans 0.86 136 Other financial assets (276.90) 198 Other current assets 2320 (52.49) Government grants (net) a29 258 Trade payables (31.93) (133.48) Provisions 224 (5.55) Other financial liabilities 83.83 (63.85) Other current liabilities (6.17) 13,50 Cash used in working capital changes (15.69)] (146.46) Less - Income-tax pald (net) (62.93) (61.13)] Net cash generated from operating activities 119.66 1183 Il |Cash flow from investing activities Proceeds from disposal of property, plant and equipment 026 617 Purchase of property, plant and equipment (inciuding capital work-in-progress and (36.61)) (25.42)] Capitel advances) Investments purchased (net) 375.41 383.77 Dividend.income received 465 - (Investment in}/ redemption of fixed deposits (net) (71.42) 212 Interest income received 37.00 2074 Net cash generated from investing activities 309.27 10738 1 |Cash flow from financing activities Finance costs paid (10.79) (10.45) Repayment of short term borrowings (nct) (300.85)| (211.29) Payment of principal lease liabilities (2.98) (a.62) Payment of interest on lease liabilities {0.30) (057)! Dividend paid (170.04) (213.73) Net cash used in financing activitics (484.96). (440.64) IV |Net decrease in cash and cash equivalents (1+1l+Il]} (26.03) (21.63) vV |cashand cash equivalents at the beginning of the period 3140 4439 VI__|cash and cash equivalents at the end of the period (IV+V) 537 2276 The above Statement of Cash Flows have been prepared under the indirect method set out in the Indian Accounting Standard (Ind AS) 7, *Statement of Cash Flows'. P Ban Sf pashan 5 S Lok o\ Link
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Notes ‘The consolidated financial results of Finolex Industries Limited (‘FIL') and its two associates for the quarter and half year ended September 30, 2026 have been reviewed by the Audit Committee and approved by the Roard of Directors at their respective meatings held on October 30, 2026 and a limited review of the same has been carried out by the statutory auditor of FIL. These results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard (nd AS') 34, ‘lnterim Financial Reporting' prescribed under section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). FIL hos a single operating scgment comprising the manufacturing and sale of pipes and fittings. Accordingly, no separate segment disclosures are required under Ind AS. 108, Previous year/periods figures have been rearranged/ re-grouped, wherever considered necessary, to make them comparable with those of the current year/ period. By order of the Board of Directors For Finolex Industries Limited UDIPT =5 AGARWAL = = Udipt Agarwal Place: Mumbai Managing Director Data: October 30, 2026 DIN: 11219144