Interim report
Page 1
GFCL: BRD: 2026 12th August, 2026 The Secretary BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai 400 001 Scrip Code: 542812 The Secretary National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex Bandra (E), Mumbai 400 051 Symbol: FLUOROCHEM Dear Sir/Madam, Sub: Unaudited Standalone and Consolidated Financial Results for the quarter ended 30th June, 2026 Ref.: Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 This has reference to our intimation dated 4 th August, 2026 regarding intimation of Board Meeting and pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we enclose herewith the Unaudited Standalone and Consolidated Financial Results along with the Limited Review Reports issued by the Statutory Auditors of the Company f or the quarter ended 30th June, 2026, which have been reviewed and recommended by the Audit Committee and approved by the Board of Directors, at their respective Meetings held today 12th August, 2026. The said Financial Results are also being made available on the website of the Company at www.gfl.co.in. The Meeting of the Board of Directors commenced at 12:30 p.m. and concluded at 1:30 p.m. We request you to take the above on your record. Thanking you, Yours faithfully, For Gujarat Fluorochemicals Limited Bhavin Desai Company Secretary FCS 7952 Encl.: As above
Page 2
Sr. No. I II Ill IV V VI VII GUJARAT FLUOROCHEMICALS LIMITED CIN: L24304HP2018PLC011898 Registered Office: Plot No. 1, Khasra Nos. 264 to 267, Industrial Area, Village Basal, Una, Himachal Pradesh - 174303 Tel: +911975297843 GR o up GUJARAT FlUOROCHEMICALS Particulars Revenue from operations Other income Total Income (1+11) Expenses Cost of materials consumed Website: www. gfl.co.in, email: contact@ gfl.co.in STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2026 Quarter ended Quarter ended 30 June 2026 31 March 2026 (Unaudited) (Audited) 1,302 1,211 7 4 1,309 1,215 480 371 Changes in inventories of finished goods, work-in-progress and by products (91) 20 Power and fuel 194 181 Employee benefits expense 118 106 Foreign exchange fluctuation (gain)/loss (net) (13) (27) Finance costs 20 28 Depreciation & amortisation expense 80 73 Other expenses 249 225 Total expenses (IV) 1,037 977 Profit before exceptional items and tax (Ill-IV) 272 238 Exceptional items (see note 3) - (1) Profit before tax (V-VI) 272 237 Page 1 of 4 BEYOND I NFI NI T Y (Rs. in Crores) Quarter ended Year ended 30June 2025 31 March 2026 (Unaudited) (Audited) 1,174 4,542 17 35 1,191 4,577 370 1,463 27 (50) 189 738 93 407 (19) (94) 29 117 74 295 181 764 944 3,640 247 937 - (18) 247 919
Page 3
Sr. Quarter ended No. Particulars 30June 2026 (Unaudited) VIII Tax expenses (1) Current tax 71 (2) Deferred tax * (3) Tax pertaining to earlier periods - Tax expenses 71 IX Profit for the period/year (VII-VIII) 201 X Other Comprehensive Income A) Items that will not be reclassified to profit or loss Gains/(losses) on remeasurement of the defined benefit plan (5) Income tax on above 1 Total other comprehensive income (4) XI Total comprehensive income for the period/year (Comprising Profit and Other 197 Comprehensive Income for the period/year) (IX+X) XII Paid-up equity share capital (face value of Re. 1 each) 11 XIII Other Equity (excluding revaluation reserves) as shown in the Audited Balance Sheet of the previous year XIV Basic and Diluted earnings per equity share of Re. 1 each (in Rs.) ** (*) Amount is less than Rs. 0.50 Crore. (**) Not Annualised 18.35** Page 2 of4 (Rs. in Crores) Q~arter ended Quarter ended Vear ended 31 March 2026 30June 2025 31 March 2026 (Audited) (Unaudited) (Audited) 54 58 220 12 4 21 * - * 66 62 241 171 185 678 1 3 2 * (1) - 1 2 2 172 187 680 11 11 11 7,099 15.54** 16.66 ** 61.69 r
Page 4
Notes: 1. The above results have been reviewed by the Audit Committee and thereafter approved by the Board of Directors in their meeting held on 12 August 2026. The same have been subjected to Limited Review by statutory Auditors and they have issued an unmodified review report. 2. The Company has received a No Objection Letter on 9July 2026 from BSE Limited and National Stock Exchange of India Limited in respect of the Composite Scheme of Arrangement between lnox Leasing and Finance Limited, ("Demerged Company" or "Transferor Company" or "ILFL"), Holding Company of Gujarat Fluorochemicals Limited, lnox Holdings and Investments Limited, ("Resulting Company" or "IHIL") and Gujarat Fluorochemicals Limited ("Transferee Company" or "GFCL") and their respective Shareholders under the provisions of Sections 230 to 232 and other applicable provisions of the Act ("Scheme") which envisages the following: (a) Part A-Demerger of Wind Business ("Demerged Undertaking") of ILFL into IHIL; and (b) Part B-Amalgamation of ILFL into GFCL (after demerger of Demerged Undertaking of ILFL into IHIL). All the Companies involved in the Scheme are in process of taking further actions for obtaining the approval of Regulatory Authorities to implement the Scheme 3. Effective 21 November, 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 Company has assessed and estimated the impact of increase in employee benefit obligations arising from the New Labour Codes. The impact of the same is recognised and presented as 'Exceptional Item' in the above results amounting to Rs. 18 crores in financial year 31 March 2026. 4. Wit h respect to the fire incident in December 2021 at Ranjitnagar plant, the Company had recognized a total amount of Rs. 70 Crores towards insurance claim lodged in that year. After the receipt of interim claim amount, sale of related scrap etc., The Company has received Rs. 11 crores on 24th April, 2026 towards full and final claim for loss of PPE. Now the balance of insurance claim lodged is Rs. 28 Crores. The insurance company is in the process of determining the final claim amount for loss of profit . Difference, if any, which in the opinion of management may not be significant, will be recognized upon the final determination of the claim amount. 5. Since the segment information as per Ind-AS 108 'Operating Segments' is provided on the basis of consolidated financial results, the same is not provided separately for the standalone financial results. 6. New companies incorporated during the quarter ended 30 June 2026: Name of the Company Purpose GFCL Semiconductor and Advanced Specialty chemicals and semiconductor devices, integrated circuits etc. Materials Limited GFCL EV New Age Materials SAOC Manufacturing and trading of battery chemicals. Page3 of4
Page 5
7. During the quarter ended 30 June 2026, the Company has made following investments: a) GFCL EV Products Limited - Rs. 290.00 Crores in 0.01% Non-convertible Redeemable Preference Shares of Re. 1 each. b) Flurry Wind Energy Private Limited - Rs. 12 Crores in Equity Shares of Rs. 10 each and Rs. 40.00 Crores in 0.01% Non-cumulative, unlisted, Optionally Convertible Participating, Redeemable Preference Shares of Rs. 10 each. c) GFCL New Age Materials SAOC - Rs. 0.11 Crore in Equity Shares of OMR 1 each. 8. Figures for the quarter ended 31 March 2026 and the balancing figures between the audited figures in respect of the full financial year and the published unaudited year-to-date figures up to the 31 December 2025 which were subjected to limited review. Place: Noida Date: 12 August 2026 Page 4 of 4 Oo beh~ oft he Boa,d om,ecto,s • ~ ~ (Chairman and Managing Director) DIN: 00029968
Page 6
PATANKAR & ASSOCIATES Chartered Accountants Office No. 19 to 23, 4th floor, 'Gold Wings', S.No. 118/A, Plot No.543, Sinhgad Road, Parvati Nagar, Pune - 411030 Telefax: 020 - 24252118 / 020 - 79630645 email : sanjay@patankarassociates.in Independent Auditor's Review Report on Quarterly unaudited standalone Financial Results of Gujarat Fluorochemicals Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To the Board of Directors of Gujarat Fluorochemicals Limited We have reviewed the accompanying statement of unaudited standalone financial results of Gujarat Fluorochemicals Limited (the "Company") for the quarter ended 30 June 2026 (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 . This Statement which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standard 34 on "Interim Financial Reporting" (Ind AS 34), prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review . • We conducted our review in accordance with the Standard on Review Engagement (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 misstatements . A review is limited primarily to inquiries of the Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion. 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 applicable accounting standards i.e. Indian Accounting Standards ("Ind AS") issued under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement . For Patankar & Associates Chartered Accountants Firm Registration No. 107628W Sandesh S Malani Partner Mem. No. 110051 Place: Pune Date: 12 August 2026 UDIN: 6110051VURXWO1740
Page 7
Sr. No. I II Ill IV V VI VII VIII GUJARAT FLUOROCHEMICALS LIMITED GUJARAT FLUOROCHEMICALS CIN: L24304HP2018PLC011898 Registered Office: Plot No. 1, Khasra Nos. 264 to 267, Industrial Area, Village Basal, Una, Himachal Pradesh -174303 Tel: +911975297843 Website: www .gfl.co.in, email: contact@gfl.co .in STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER 30 JUNE 2026 Quarter ended Quarter ended Particulars 30June 2026 31 March 2026 (Unaudited) (Audited) Revenue from operations 1,588 1,369 Other income 12 6 Total Income (1+11) 1,600 1,375 Expenses Cost of materials consumed 504 379 Changes in inventories of finished goods, work-in-progress and by products 25 115 Cost of raw ore, material extraction and processing cost 6 8 Power and fuel 199 188 Employee benefits expense 147 131 Foreign exchange fluctuation (gain)/loss (net) (13) (22) Finance costs 26 42 Depreciation & amortisation expense 102 97 Other expenses 292 262 Total expenses (IV) 1,288 1,200 Share of loss of associates/joint venture (2) (1) Profit before exceptional items and tax (111-IV+V) 310 174 Exceptional items (see note 3) - (3) Profit before tax (III-IV+V) 310 171 Page 1 of 8 ' I V 0 GROUP BEYOND INFINITY (Rs. in Crores) Quarter ended Year ended 30June 2025 31 March 2026 (Unaudited) (Audited) 1,281 4,996 23 42 1,304 5,038 406 1,635 34 7 7 33 192 756 106 486 (19) (89) 30 138 90 367 211 877 1,057 4,210 - (1) 247 827 - (20) 247 807
Page 8
Sr. No. Particulars IX Tax expenses (1) Current tax (2) Deferred tax (see Note 4) (3) Tax pertaining to earlier periods Tax expenses X Profit for the period/year (VI-VII) XI Other comprehensive income A) Items that will not be reclassified to profit or loss Gains/(losses) on remeasurement of the defined benefit plan Income tax on above B) Items that will be reclassified to profit or loss (a) Exchange differences in translating the financial statements of foreign operations Total other comprehensive income XII Total comprehensive income for the period/year (Comprising Profit and Other Comprehensive Income for the period/year) (X+XI) Profit/(loss) for the period/year attributable to: - Owners of the Company - Non-controlling interests Other comprehensive income for the period/year attributable to: - Owners of the Company - Non-controlling interests Total comprehensive income for the period/year attributable to: - Owners of the Company - Non-controlling interests XIII Paid-up equity share capital (face value of Re 1 each) XIV Other Equity (excluding revaluation reserves) as shown in the audited Balance Sheet of previous year xv Basic & Diluted earnings per equity share of Re. 1 each (in Rs.) (see Note 4) (*) Amount is less than Rs. 0.50 Crore. (* * ) Not Annualised Page 2 of8 Quarter ended 30June 2026 (Unaudited) 79 12 * 91 219 (5) 1 (5) (9) 210 221 (2) (9) * 212 (2) 11 20.17 ** (Rs in Crores) Quarter ended Quarter ended Year ended 31 March 2026 30June 202S 31 March 2026 (Audited) (Unaudited) (Audited) 57 64 238 14 1 13 * - * 71 65 251 100 182 S56 1 2 2 * (1) * - 23 14 59 24 15 61 124 197 617 103 182 561 (3) * (5) 24 15 61 * * * 127 197 622 (3) * (5) 11 11 11 7,782 9.38 ** 16.57 ** 51.02
Page 9
UNAUDITED CONSOLIDATED STATEMENT OF SEGMENT INFORMATION FOR THE QUARTER ENDED 30 JUNE 2026 (Rs. in Crores) Sr. Quarter ended Quarter ended Quarter ended Year ended No. Particulars 30June 2026 31 March 2026 30June 2025 31 March 2026 (Unaudited) (Audited) (Unaudited) (Audited) A Segment Revenue 1 Chemicals 1,610 1,380 1,287 5,030 2 EV Products 29 15 1 33 Total Segment Revenue 1,639 1,395 1,288 5,063 Less: Inter Segment Revenue (51) (26) (7) (67) Tota l External Revenue 1,588 1,369 1,281 4,996 B Segment Results I Earnings Before Interest, Tax, Depreciation (EBITDA) 1 Chemicals 458 353 354 1,371 2 EV Products (30) (45) (10) (80) EBITDA 428 308 344 1,291 II Other income 1 Chemicals 8 3 21 37 2 EV Products 4 3 2 5 Total Other Income 12 6 23 42 lll(a) Finance costs 1 Chemicals 21 29 30 122 2 EV Products 5 3 * 6 lll(b) Transaction costs in respect of financial liability at FVTPL Chemicals - - - - EV Products - 10 - 10 Total Finance Cost 26 42 30 138 IV Profit/(loss) before tax and depreciation (PBDT) (1+11-111) 1 Chemicals 445 327 - 345 1,286 2 EV Products (31) (SS) (8) (91) PBDT 414 272 337 1,195 V Depreciation and amortisation expense - 1 Chemicals 91 86 84 338 2 EV Products 11 11 6 29 Total Depreciation and amortisation expense 102 97 90 367 Page 3 of 8 !
Page 10
(Rs in Crores) Sr. Quarter ended Quarter ended Quarter ended Year ended No. Particulars 30 June 2026 31 March 2026 30June 2025 31 March 2026 (Unaudited) (Audited) {Unaudited) (Audited) VI Share of profit/{loss) from associate 1 Chemicals (2) (1) - (1) 2 EV Products - - - - Total Share of profit/(loss) from associate (2) (1) - {l) VII Profit/{loss) before tax {PBT) (IV-V-VI) - before Exceptional item 1 Chemicals 352 240 261 947 2 EV Products (42) (66) (14) (120) PBT before Exceptional item 310 174 247 827 VII Exceptional item - 1 Chemicals - (2) - (19) 2 EV Products - (1) - (1) Total Exceptional item - (3) - (20) IX Profit/(loss) before tax (PBT) (IV-V-VI) - after Exceptional item 1 Chemicals 352 238 261 928 2 EV Products (42) (67) (14) (121) PBT after Exceptional item 310 171 247 807 X Tax Expenses 1 Chemicals 91 71 65 251 2 EV Products (see Note 4) - - - - Total Tax Expenses 91 71 65 251 XI Profit/(loss) after tax {PAT) (VII-VII) 1 Chemicals 261 167 196 677 2 EV Products (42) (67) (14) (121) PAT 219 100 182 556 C Segment Assets 1 Chemicals 9,236 9,090 8,811 9,090 2 EV Products (see Note 4) 3,361 2,769 1,655 2,769 Total Segment Assets 12,597 11,859 10,466 11,859 D Segment Liabilities 1 Chemicals 2,980 2,777 2,910 2,777 2 EV Products 1,304 1,193 62 1,193 Total Segment Liabilities 4,284 : ,JJ70 2,972 3,970 (*) Amount is less than Rs. 0.50 Crore. rv Page 4 of 8
Page 11
l. The above results have been reviewed by the Audit Committee and thereafter approved by the Board of Directors in their respective Meeting held on 12 August 2026. The Statutory Auditors have carried out Limited Review of the aforesaid results and issued an unmodified review report. 2. The Company has received a No Objection Letter on 9 July 2026 from BSE Limited and National Stock Exchange of India Limited in respect of the Composite Scheme of Arrangement between lnox Leasing and Finance Limited, ("Demerged Company" or "Transferor Company" or "ILFL"), Holding Company of Gujarat Fluorochemicals Limited, lnox Holdings and Investments Limited, ("Resulting Company" or "IHIL" ) and Gujarat Fluorochemicals Limited ("Transferee Company" or "GFCL") and their respective Shareholders under the provision s of Sections 230 to 232 and other applicable provisions of the Act ("Scheme") which envisages the following: (a) Part A-Demerger of Wind Business ("Demerged Undertaking") of ILFL into IHIL; and (b) Part B-Amalgamation of ILFL into GFCL (after demerger of Demerged Undertaking of ILFL into IHIL). All the Companies involved in the Scheme are in process of taking further actions for obtaining the approv al of Regulatory Authorities to implement the Scheme. 3. Effective 21 November 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 immediate ly in t he statement of profit and loss. The Group has assessed and estimated the impact of increase in employee benefit obligations arising from the New Labour Codes. The impact of the same is recognised and presented as 'Exceptional Item' in the above results amounting to Rs. 20 crores for the year ended 31 March 2026. 4. In respect of one of the subsidiaries, GFCL EV Products Limited, the management has derecognised the deferred tax asset recognised in earlier years on account of strict interpretat ion and applicat ion of the principles of Ind AS 8, 'Accounti ng policies, Changes in Accounting Estimates and Errors', Ind AS 1, 'Presentation of Financial Statements' and Ind AS 12 'Income Taxes'. However, this does not affect the subsidiary's statutory entitlement to carry forward and set off the unabsorbed tax losses against future taxable income, subject to the applicable provisions and specified time limits under the Income-tax Act. The resultant impact has been recognised, is presented below : Consolidated Balance Sheet as at 31 March 2026 (Rs.in Crores) Particulars 31 March 2026 Adjustments 31 March 2026 (Audited) (Restated) Non-current assets Deferred tax assets (net) 24 (24) - EQUITY (a) Other Equity 7,805 (23) 7,782 (b) Non-Controlling Interest 47 (1) 46 Page 5 of8
Page 12
Consolidated Statement of Profit and Loss for the quarter ended 31 March 2026 / 30 June 2025 and for the year ended 31 March 2026: (Rs. in Crores) Quarter ended Quarter ended Year ended Particulars 31-Mar-26 30-Jun-25 31-Mar-26 (Audited) (Unaudited) (Audited) {al ReQorted in Previous Years Differed Tax Charge/(Credit) 5 -1 -5 Profit after tax 109 184 574 Total comprehensive income 133 199 635 Basic & Diluted earnings per equity share 9.92 16.75 52.26 (bl Adjustment Deferred tax Assets Derecognised 9 2 18 (C} Restated in Current Year Deferred tax charge/ (credit) 14 1 13 Profit after tax 100 182 556 Total comprehensive income 124 197 617 Basic & Diluted earnings per equity share 9.38 16.57 51.02 5. With respect to the fire incident in December 2021 at Ranjitnagar plant, the Company recognized a total amount of Rs. 70 Crores towards insurance claim lodged in that year. After the receipt of interim claim amount, sale of related scrap etc, the company has received Rs. 11 crores on 24th April, 2026 towards full and final claim for loss of PPE. Now the balance of insurance claim lodged is Rs. 28 Crores. The insurance company is in the process of determining the final claim amount for loss of profit. Difference, if any, which in the opinion of management may not be significant, will be recognized upon the final determination of the claim amount . Page 6 of8
Page 13
6. New companies incorporated in the Group during the quarter ended 30 June 2026: Name of the Company Purpose GFCL Semiconductor and Advanced Specialty chemicals and semiconductor devices, integrated circuits etc. Materials Limited GFCL EV New Age Materials SAOC Manufacturing and trading of battery chemicals. 7. The Company has following Subsidiary/Associate/Joint Venture companies, as at 30 June 2026: Sr. Name of Subsidiary/Associate/Joint Venture companies Relationship Country of No. Incorporation 1 Gujarat Fluorochemicals Americas LLC Wholly-owned subsidiary USA 2 Gujarat Fluorochemicals GmbH Wholly-owned subsidiary Germany 3 Gujarat Fluorochemicals Singapore Pte. Limited (including its following wholly-owned subsidiary) Wholly -owned subsidiary Singapore a) GFL GM Fluorspar SA Step down subsidiary Morocco 4 GFCL EV Products Limited (including its following subsidiaries) Subsidiary India a) GFCL EV Products Americas LLC Step down subsidiary USA b) GFCL EV (SFZ) LLC Step down subsidiary Oman c) GFCL EV Products GmbH Step down subsidiary Germany d) GFCL EV Products Pte. Ltd. Step down subsidiary Singapore e) GFCL EV Advanced Materials (SFZ) LLC (incorporated on 20 January 2026) Step down subsidiary Oman f) GFCL New Age Materials SAOC (incorporated on 3 June 2026) Step down subsidiary Oman 5 GFCL Solar and Green Hydrogen Products Limited Wholly-owned subsidiary India 6 Gujarat Fluorochemicals FZE • Wholly-owned subsidiary Dubai 7 GFCL Semiconductor and Advanced Materials Limited (incorporated on 26 June 2026) Wholly-owned subsidiary India 8 Swarnim Gujarat Fluorspar Private Limited Joint Venture India 9 IGREL Mahidad Limited Associate India 10 Flurry Wind Energy Private Limited Associate India 8. The Group is having two reportable business segments viz. 'Chemicals' and 'EV Products'. 9. Figures for the quarter ended 31 March 2026 are the balancing figures between the audited figures in respect of the full financia l ye rand the published unaudited year to date figures up to 31 December 2025 which were subjected to limited review. Page 7 of 8
Page 14
Place: Noida Date: 12 August 2026 Page 8 of 8 Do bf 7Tf-~-- VivekJain (Chairman and Managing Director) DIN: 00029968
Page 15
PATANKAR & ASSOCIATES Chartered Accountants Office No. 19 to 23, 4th floor, 'Gold Wings', S.No. 118/A, Plot No.543, Sinhgad Road, Parvati Nagar, Pune - 411030 Telefax: 020 - 24252118 / 020 - 79630645 email : sanjay@patankarassociates .in Independent Auditor's Review Report on Quarterly Unaudited Consolidated Financial Results of Gujarat Fluorochemicals Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended . To the Board of Directors of Gujarat Fluorochemicals Limited 1. We have reviewed the accompanying statement of unaudited consolidated financial results of Gujarat Fluorochemicals Limited (the "Parent"), its subsidiaries (the Parent and its subsidiaries together referred to as the "Group") and its share of the net profit/(loss) after tax and total comprehensive income of its associates and jointly controlled entity for the quarter ended 30 June 2026 (the "Statement"}, being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. 2. This Statement which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standard 34 on "Interim Financial Reporting" (Ind AS 34}, prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review in accordance with the Standard on Review Engagement (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 informati on 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 circular issued by the SEBI under Regulation 33(8} of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. 4. The Statement includes the results of Gujarat Fluorochemicals Limited and of the following entities: Subsidiaries: i) Gujarat Fluorochemicals Americas LLC ii) Gujarat Fluorochemicals GmbH iii) Gujarat Fluorochemicals Singapore Pte. Limited iv) GFCL EV Products Limited v) GFCL Solar and Green Hydrogen Products Limited vi) Gujarat Fluorochemicals FZE vii) GFCL Semiconductor and Advanced Materials Limited (incorporated on 26 June 2026) Step-down subsidiaries: i) GFL GM Fluorspar SA ii) GFCL EV Products Americas LLC iii) GFCL EV (SFZ) LLC iv) GFCL EV Products GmbH v) GFCL EV Products Pte. Ltd. vi) GFCL EV Advanced Materials (SFZ) LLC vii) GFCL New Age Materials SAOC (incorporated on 3 June 2026)
Page 16
Associates: i) IGREL Mahidad Limited ii) Flurry Wind Energy Private Limited Jointly controlled entity: i) Swarnim Gujarat Fluorspar Private Limited 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We did not review the interim financial information of seven subsidiaries which reflect total revenue (before consolidation adjustments) of Rs. 29 Crores, total net loss after tax (before consolidation adjustments) of Rs. 42 Crores and total comprehensive loss (before consolidation adjustments) of Rs. 44 Crores for the quarter ended 30 June 2026. These financial results have been reviewed by other auditors whose reports have been furnished to us by the Parent's management and our conclusion on the Statement, in so far as it relates to amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of this matter. 7. The Statement also include interim financial information of two associates and one joint venture which have not been reviewed by their auditors, whose interim financial information reflects Group's share of net loss after tax and total comprehensive loss of Rs. 2 Crores for the quarter ended 30 June 2026, as considered in Statement . According to the information and explanations given to us by the Parent's management, this interim financial information is not material to the Group. Our conclusion on the Statement is not modified in respect of this matter . For Patankar & Associates Chartered Accountants Firm Registration No. 107628W • I Sandesh S Malani Partner Mem . No. 110051 Place: Pune Date: 12 August 2026 UDIN: 26110051BMSJAl9057