Interim report
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GEL/SEC/2025-26/54 November 11, 2025 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers The Exchange Plaza 25th Floor, Dalal Street, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code – 532630 Scrip Code: GOKEX Dear Sir / Madam, Sub: Outcome of the Board Meeting held on November 11, 2025 Further to our intimation dated November 03, 2025, pursuant to Regulation 30 (read with Part A of Schedule III) and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“ SEBI LODR Regulations ”), we wish to inform that the Board of Directors of Gokaldas Exports Limited (“the Company”) at its meeting held today i.e. Tuesday, November 11, 2025 inter-alia considered and approved the un-audited standalone and consolidated financial results of the Company for the quarter and half year ended September 30, 2025. A copy of the un-audited financial results along with the Limited Review Report are enclosed herewith. The Meeting commenced at 7.00 pm and concluded at 8.30 pm. This is for your information and record. Thanking you, Yours truly, For Gokaldas Exports Limited Gourish Hegde Company Secretary & Compliance Officer Encl: as above
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s. No. I (a) (b) II (a) (b) (c) (d) (e) (I) (g) (h) (i) Ill IV V VI (A) (B) Vil VIIT IX X (a) (b) gokaldas exports ltd E-mail : gokexl@gokaldasexoons.com WEBSITE : www.gokaldascxpons.com State ment of conso lidated una udited fina ncial results for the quarte r and ha lf year ended September 30, 2025 (In Rs. lakhs, except earnings per share) Particu lars Qua rter ended Stp30 , 2025 J une 30, 2025 Sep 30, 2024 Unaudited Una udited Unaudited Income Revenue from operations 98,435.36 95,578.61 92,900.4 8 Other income Income from bank deposits and investment in mutual funds 590.91 864.38 870.06 Interest income from debentures 947.68 887.87 263. 16 Others 357.65 385.66 147.93 Totlll Income 100,331.60 97,716.S2 94, 181.63 Expenses Cost of materials consumed 46,373.02 50,009.04 47,915.41 Purchases of stock-in-trade 20.80 23.66 146.65 Changes in inventories of work-in-progress and finished goods 4,942.31 (5,793.38) 258.35 Employee benefits expense 32,593.15 32,150.97 28,576.21 Finance costs 2,226.20 2,249.06 1,798.40 Depreciation and amortisation expense 4,259.32 3,937.50 2,878.03 Job work charges 651.68 453.03 862.75 Net (gain)/loss on account of foreign exchange transact ion and ( 1,100.23) (68.88) (341.46) translation Other expenses 8,493.04 9,074.87 8,527.42 Total expenses 98,459.29 92,035.87 90,62 1.76 Pro fit before tax (I - II) 1,872.31 5,680.65 3,559.87 Tax expenses Current tax 1,512.80 1,832.13 952.30 Adjustment of tax relating to earlier years - - - Deferred tax chargc/(credit) (448.85) (298.82) (208.54) Total tax expenses 1,063.95 1,533.3 1 743.76 Net pro fit for the period / year (Ill-IV) 808.36 4, 147.34 2,816. 11 Other comprehensive income (net of tax) Items that will not to be reclassified to profit or loss Re-measurement gain/(loss) on defined benefit plans (net) (301.25) 87.31 (31.29) Items that will be reclassified to profit or loss: Exchange difference on translation of foreign operations (1,057.00) (60.86) (144.57) Effective portion of gain/(loss) on hedging instruments in a cash (3,283.25) 1,019,05 (654.86) now hedge (net) Tota l other comprehe.nsh•e income for the period / year (net of (4,64 1.50) 1,045.50 (830.72) tax) TotHI comprebe11sivc income for the period / year (V+VT) (3,833.14) 5, 192.84 1,985.39 Paid-up equity sha re capital (face value Rs 5 each) 3,661.43 3,654.89 3,570.42 Other equity Earnings per equity sha re (EPS) (not annu a lised except for the year ended March J I, 2025) Basic (Rs.) 1.10 5.73 3.94 Diluted (Rs.) 1.06 5.56 3.78 Regd. Office:# 25, 2nd Cross, 3rd Main , Industrial Suburb, Yeshwanthpur, Bangalore 560 022. Tel: +918068951000 , Fax : +918068951001 Half year ended Stp JO, 2025 StpJ0, 2024 Unaudited Unaudited 194,013.97 186,113.65 1,455.29 1,518.60 1,835.55 263.16 743.31 259.42 198,048. 12 188,154.83 96,382.06 95,669.38 44.46 161.91 (851.07) 818.24 64,744.12 57,741.36 4,475.26 3,678.1 I 8,196.82 5,644.75 1,104.71 1,292.55 (1,169. 11) (317.32) 17,567.91 16,295.67 190,495.16 180,984.65 7,552.96 7,170. 18 3,344.93 2,141.51 - - (747.67) (505.40) 2,597.26 1,636. 11 4,955.70 S,534.07 (213.94) 49.86 (1,1 17.86) (116.3 I) (2,264.20) (522.74) (3,596.00) (589. 19) 1,359.70 4,944.88 3,661.43 3,570.42 6.81 7.87 6.59 7.54 E-Mail : info@gokoldosexport s.com CIN : L 18101 KA2004PLC033475 Year ended MarJ l, 2025 Audited 386,423.96 2,94 1.62 1,557.19 795.62 391, 718.39 195,728.78 214.59 (2,913.96) 122,651.82 7,743.41 12,840.32 2,420.83 (1,158.85) 32,383.98 369,910.92 21,807.47 5,207.97 (4.62) 750.03 5,953.38 15,854.09 58.68 1,961.45 ( 1,140.60) 879.53 16,733.62 3,573.33 204,494.58 22.36 21.45 II 01•
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gokaldas exports ltd Statem ent of consolidat ed unaudited assets and liabilitie s as at September 30 2025 ' Particulars Sep 30, 2025 Unaudited I. ASSETS (I) Non- current assets (a) Property, plant and equipment 64,357 .80 (b) Right of use asset 31,897.77 (c) Capital work-in-progress 6,672.42 ( d) Other intangible assets 156.05 (e) Goodwill and intangible assets 58,001.99 (f) Financial assets (i) Investments 25,014.09 (ii) Other financial assets 4,588 .56 (g) Deferred tax asset 5,226.42 (h) Non-current tax assets (net) 305.41 (i) Other non-current assets 1,462.24 Total non-curr ent assets 197,682.75 (2) Current assets (a) Inventories 68,588.23 (b) Financial assets (i) Investments 36,989.90 (ii) Trade receivables 45,952.03 (iii) Cash and cash equivalents 5,454.80 (iv) Bank balances (other than 2(b)(iii) above) 89.52 (v) Other financial assets 12,964.87 ( c) Other current assets 22,134.25 Tot.al current assets 192,173 .60 Total assets (1+2) 389,856.35 TT. EQUITY AND LIABILITI ES (1) Equity (a) Equity share capital 3,661.43 (b) Other equity 211,9 18.31 Total equity 215,579.74 Liabilit ies (2) Non-current liabilities (a) Financial liabilities (i) Borrowings 32,759.99 (ii) Lease liabilities 25,612.76 (b) Provision for employee benefits 5,607.68 Total non-current liabilities 63,980.4 3 (3) Current liabilities (a) Financial liabilities (i) Borrowings 34,186.97 (ii) Trade payables Total outstanding dues of micro and small enterprises 3,838.47 Total outstanding dues of creditors other than micro and small enterprises 21,371.20 (iii) Lease liabilities 6,753.25 (iv) Other financial liabilities 33,390 .65 (b) Other current liabilities 4,284.04 (c) Provision for employee benefits 3,450 .72 (d) Current tax liability (net) 3,020 .88 Total current liabilities 110,296.18 Total equity and liabilities (1+2+3) 389,856.35 Regd. Office:# 25, 2nd Cross, 3rd Main, Industrial Suburb, Yeshwanthpur, Bangalore 560 022. Tel: +918068951000 , Fax: +918068951001 E-Mail : info@gokaldasexports.com CIN : L 18101 KA2004PLC033475 (in Rs Lakhs) Mar 31, 2025 Audited 61,957.79 19,549.13 1,703.95 181.0 I 58, 194.26 17,815.03 4,520.98 3,717.48 268.57 1,538.49 169,446.69 68,194.08 31,892.91 42,878.56 16,475.07 140.51 3,962.67 20,726.44 184,270.24 353,716.93 3,573.33 204,494.58 208,067.91 30,726 .20 15,311.41 2,020.76 48,058.37 33,606.37 2,524.28 21,30 1.88 4,877.22 22,784.11 5,791.35 5,968.13 737.31 97,590.65 353,716.93
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gokaldas exports ltd Statem ent of consolidat ed unau d ited cash flows for the half year ended Septemb er 30 2025 ' (in Rs Lakhs) Half year ended Sep 30, 2025 Sep 30, 2024 Cash flow from operating activities Profit before tax 7,552.96 7,170.18 Adjustments to reconcile profit before tax to net cash flows: Depreciation and amort isation expense 8,1 96.82 5,644.75 Net gain on disposal of property, plant and equipment (45.91) (12.38) Unrealised foreign exchange (gain)/loss, (net) ( 1,196.10) 9.61 Gain on sale of investments in mutual fund units (including fair value gain) ( 1,447.00) ( 1,458.22) Gain on derivative contracts (102.00) - Income from government grants (343.08) ( 161.52) Share based payment expenses 792.87 1,217.00 Interest income ( 1,986 .02) (523.07) Finance costs 4,475.26 3,678.11 Provision for doubtful debts 144.20 - Provision no longer required written back . (4 1 .38) Operating profit before working capital changes 16,042.00 15,523.08 Changes in working capital: (increase)/ decrease in other financial assets (338.02) (7,433.30) (Increase)/ decrease in other assets (529.87) (819.26) (Increase)/ decrease in inventories (394.15) (3,234.18) (Increase)/ decrease in trade receivab les (4,664.50) 10,912.24 Increase/ (decrease) in provisions for employee benefits 855.57 376.78 Increase/ (decrease) in trade payables 270.64 (904.30) Increase/ (decrease) in other financial liabilities 691.71 (7,744.00) Increase/ (decrease) in other liabilities 46.82 71.70 Cash generated from operations 11,980.20 6,748.76 Direct taxes refunded/ (paid) (net) (1,097 97) ( 1,464 63) Net cash flows from operating activities (A) 10,882.23 5,284.13 Cash flow from investin g acti vities Purchase of property, plant and equipment (including intangible assets and capital work-in-progress) (I 1,021.87) (5,522.48) Proceeds from sale of property, plant and equipment 139.17 64.45 Investments in bank deposits - (26,288 .03) Redemption of bank deposits 50.99 33,214.53 Proceeds from sale of investment in mutual fund units 10,900.01 (5 1,594.95) Investment in mutual fund units (14,550.00) 19,665.21 Investment in optionally convert ible debentures . (6,000.00) Investment in equity shares (7,199.06) Interest income 99.08 186.98 Net cash flows used in investing activities (B) (21,581.68) (36,274.2 9) Cash flow from financing acfo,itics Proceeds from issue of shares / exercise of share options 5,359.26 59,517.05 Proceeds of borrowings 85,705.77 38,646.74 Repayment of borrowings (83,250.06) (60,439.03) Payment of lease liabilities (5,15236) (3,664.22) Finance costs (3, 113.05) (2,775.94) Net cash flows from/ (used in) finan cing activities (C) (45 0.44) 3 1,284.60 Net increase/ (decrease) in cash and cash equivalents (A+B+c) (1 1,149.89) 294.44 Effect of exchange differences on translation of foreign currency cash and cash equivalents 129.62 (171.66) Cash and cash equivalents at the beginning of the year 16,475 .07 5,424.79 Cash and cash equivalents at the end of the year 5,454.80 5,547.57 Components of cash and cash equivalents Cash and cash equivalents Balances with banks In current accounts 5,438.06 5,538.77 Cash on hand 16.74 8.80 Total cash and cash equivalents 5,454.80 5,547.57 Regd. Office:# 25, 2nd Cross, 3rd Main, ... , Industrial Suburb, Yeshwanthpur, Bangalore 560 0 t Tel: +918068951000, Fax: +918068951001 ,!} E-Mail : info@gokaldasexports.com CIN : L 18 101 KA2004PL te~ I 014
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gokaldas exports ltd Notes to the consolidated una udited financia l results for the quarter and half year ended September 30, 2025 I The financial results have been prepared in accordance with Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013, as amended ('the Act") read with relevant rules issued thereunder and other accounting principles generally accepted in India. The Consolidated financial results of Gokaldas Exports Limited ("the Company") and its subsidiaries (cumulatively referred to as "Group "), will be available on the Company's website (www.gokaldasexports .com) or on the website of NSE (www.nse-india.com) and BSE ( www .bseindia.com ). 2 The statement of consolidated unaudited financial results for the quarter and half year ended September 30, 2025 have been reviewed by the Audit Committee in their meeting on November 11, 2025 and approved by the Board of Directors in their meeting held on November 11, 2025. These consolidated unaudited financial results have been subjected to limited review by statutory auditors of the Company. 3 During the year ended March 31, 2025, pursuant to Investment Agreement dated June 19, 2024, the Company has subscribed to Optionally Convertible Debentures (Face value of Rs. 1,000 each, with a cumulative coupon rate of 20.35% per annum compounded annually) for a consideration of Rs. 17,500 lakhs in BRFL Textiles Private Limited (BTPL). Additionally, in the previous year, the Company extended corporate guarantees amounting to Rs. 275 crores to financial institutions on behalf ofBTPL. Further, pursuant to the approval of the Board of Directors and the Investment Agreement dated June 19, 2024, during the previous quarter, executed by the Company with BTPL and its existing shareholders, the Company, for a total consideration ofRs . 5,567.10 lakhs, acquired 9,37,69,382 equity shares and 1,57,89,474 compulsorily convertible preference shares (CCPS), which were subsequently converted into 9,62,24 ,645 equity shares in accordance with the Amendment Agreement dated June 30, 2025. During the quarter ended September 30, 2025, the Company further acquired 1,63,19,637 equity shares for a consideration of Rs. 1,631.96 lakhs. Accordingly, as of September 30, 2025, the Company holds 19% equity interest in BTPL. On August 9, 2025, the Board of Directors of the Company has approved the scheme of amalgamation of BRFL Textiles Private Limited with the Company and their respective shareholders under Section 230 to 232 and other applicable provisions of the Companies Act, 2013. The scheme is subject to receipt of approval from the relevant authorities. As on date of these results, the Company is in process of obtaining the requisite approvals. The Company has assessed and concluded that there is no impact that needs to be recorded in these financial results relating to the aforementioned. 4 During the period ended September 30, 2025, employees exercised stock options aggregating to 17,73,417 equity shares in accordance with the Company's stock option scheme as approved by the Nomination and Remuneration Committee. The Company has allotted 17,61,917 equity shares of Rs. 5 each, fully paid-up, during the period ended. As of September 30, 2025, the Company has received the share application money of Rs. 34.75 Iakhs in respect of 11,500 equity shares pending allotment, Subsequent to September 30, 2025, the Company bas allotted remaining 11,500 equity shares of Rs. 302.20 each (including premium of Rs. 297.20 per equity share), fully paid-up. <.. y.po C,, v r/,s, ( ~ (_. 'm Bangalore §_ ~ -0 (1) ~ ~ egd. Office : # 25, 2nd Cross , 3rd Main, Industrial Suburb, Yeshwanthpur, Bangalore 560 022. Tel: +91 80 68951000 , Fax: +91 80 68951001 E-Mail : info@gokaldasexports.com CIN : L 18101 KA2004PLC0334 75 ~ ;~~ ·-· ·-· ~~,. lntertek 01'
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gokaldas exports ltd 5 The Group's operating segments are established in the manner consistent with the products of the Group that are evaluated regularly by the Chief Operating Decision Maker as defined in Ind AS I 08 - 'Operating Segments'. The Group is engaged primarily in the business of ' manufacture and sale of apparels' and there are no separate reportable segments as per Ind AS 108. 6 Previous period/ year's figures have been regrouped/ reclassified, whereve r necessary to confirm to the current period/ year's classification. For Gokaldas Exports Limited CIN• LI 8 Ili004PLC•;~rs:::. 101 Sivaramakr:§nan Ganapa:: ~ Vice Chairman and Managing 0i DIN: 07954560 Date: November l l, 2025 Place: Bengaluru Regd. Office : # 25, 2nd Cross, 3rd Main, Industrial Suburb , Yeshwanthpur , Bangalore 560 022 . Tel : +91 80 68951000 , Fax : +91 80 68951001 E-Mai l : info@gokaldosexports.com CIN : L 18101 KA2004PLC0334 75
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s. No. I (a) (b) II (a) (b) (c) (d) (e) (t) (g) (h) (i) Ill rv V VI (A) (8) vn VIII IX X (a) (b) gokaldas exports ltd E-mail : gokex@lgokaldasexpons.com WEBSITE: www.gokaldasexpons.com Statement of standa lone unaudited financial results for the quarter and half year ended September JO, 2025 (in Rs. lakhs, except earnings per share) Particulars Quarter ended Sep 30, 2025 June 30, 2025 Sep 30, 2024 Unaudited Unaudited Unaudited Income Revenue from operations 68,785.86 63,821.71 63,234.48 Other income Income from bank deposits and investment in mutual funds 590.03 863.16 868.59 Interest income from debentures 947.68 887.87 263.16 Interest income on loans given to subsidiaries 1,112.27 1,000 .09 1,144.26 Others 328.60 420.72 179.38 Total Income 7 1,764.44 66,993.55 65,689.87 Expenses Cost of materials consumed 30,140.98 34,919.26 29,834.74 Purchases of stock-in-trade - - 124.49 Changes in inventories of work-in-progress and finished goods 5,663.50 (4,278.15) 1,352.32 Employee benefits expense 22,103.57 21,632.57 20,094.64 Finance costs 822.08 891.05 405.77 Depreciation and amonisatio n expense 2,633.79 2,380.65 1,907.39 Job work charges 194.82 132.29 528. 16 Net (gain)/loss on account of foreign exchange transaction and (90 1 .82) 48.24 (137.70) translat ion Other expenses 4,942.93 5,175.07 5,539.63 Total expenses 65,599.85 60,900.98 59,649.44 Profit before tax (I - JI) 6,164.59 6,092.57 6,040.43 Tax expense Current tax 1,332.10 1,596. 13 827.65 Adjustment of tax relating to earlier years - - Deferred tax charge/(credit) (474.42) (300.74) (50.28) Total lax expenses 857.68 1,295.39 777.37 Net profit for the period / year (Ul-IV) 5,306.91 4,797.18 5,263.06 Other comprehensive income (net of tax) Items that will not to be reclassified to profit or loss Re-measurement gain/(loss) on defined benefit plans (net) (302.54) 90.00 (67.13) Items that will be reclassified to profit or loss: Effective portion of gain/(loss) on hedging instruments in a cash (2,852.44) 910.11 (610.49) flow hedge (net) Total other comprehe nsive income for the period/ year (net of (3,154.98) 1,000.11 (677.62) tax) Total comprehensive income for the period/ year (V+VI) 2,151.93 5,797.29 4,585.44 Paid-up equity share capital (face value Rs 5 each) 3,661.43 3,654.89 3,570.42 Other equity Earnings per equity share (EPS) (not annua lised except for the year ended March 31, 2025) Basic (Rs.) 7.25 6.63 7.37 Diluted (Rs.) 6.99 6.44 7.06 Regd. Office:# 25, 2nd Cross, 3rd Main , Industrial Suburb, Yeshwanthpur, Bangalore 560 022. Tel: +91 80 68951000 , Fax : +91 80 68951001 Half year ended Sep 30, 2025 Unaudited 132,607.57 1,453.19 1,835.55 2,112.36 749.32 138,757.99 65,060.24 - 1,385.35 43,736 .14 1,713.13 5,014.44 327.11 (853.58) 10, 11 8 00 126,500.83 12,257. 16 2,928.23 - (775.16) 2,153,07 10,104.09 (212.54) (1,942.33) (2,154.87) 7,949.22 3,661.43 13.88 13.43 Sep JO, 2024 Unaudited 119,629.32 1,516.15 263. 16 2,051.34 320.80 123,780.77 58,117.54 124.49 (554.34) 40,00748 989.95 3,720.07 613.27 (125.98) 10,370.45 113,262.93 10,517.84 1,831.5 1 - (224.71) 1,606.80 8,911.04 22.87 (478.37) (455.50) 8,455.54 3,570.42 12.67 [2. 13 ~ ;~;) ·-· ·-· E-Mail : info@gokaldosexports.com CIN : L 18101 KA2004PLC033475 ~~ .. lntertek Year ended Mar 3 1, 2025 Audited 247,669.95 2,936.44 1,557.19 4,535.13 929.99 257,628.70 124,656.83 124.49 (5,214 .98) 82,743.11 2,032 .81 7,773.81 895.45 (736 50) 20,766.79 233,041.81 24,586.89 4,35 1.97 (4.62) 1,107. 13 5,454.48 19,132.41 43.38 (1,040 .90) (997.52) 18,134.89 3,573.33 210,919.21 26.98 25.88 014
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gokaldas exports ltd Statement of standal one unaudited assets and liabilities as at September 30 2025 ' Partic ulars Sep 30, 2025 Unaudited I. ASSETS (1) Non- current assets (a) Property, plant and equipment (b) Right-of-use assets (c) Capital work-in-progress (d) Other intangible assets (e) Financial assets (i) Investments (ii) Loans (iii) Other financial assets ( f) Deferred tax asset (g) Non-current tax assets (net) (h) Other non-current assets Total non-current assets (2) Current assets (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances (other than 2(b)(iii) above) (v) Other financial assets ( c) Other current assets Total current assets Total assets (1+2) II. EQUITY AND LIAB ILITIES (I ) Equity (a) Equity share capital (b) Other equity Total equity Liabilities (2) Non-current liabilities (a) Financial liabilities Borrowings Lease liabilities (b) Provision for employee benefits Total non-current liabilities (3) Current liabili ties (a) Financial liabilities (i) Borrowings (ii) Trade payables Total outstanding dues of micro and small enterprises Total outstanding dues of creditors other than micro and small enterprises (iii) Lease liabilit ies /~ (iv) Other current financia l liabilities / '(:.."t-POrt.s- <r:,c, <. (b) Other current liabilities tAJ ( c) Provision for employee benefits (d) Current tax liability (net) Total current liabilities \. 0 ......___,,, / Total equity and liabilities (1+2+3) "'----.*__,/ Regd. Office : # 25, 2nd Cross, 3rd Main, Industrial Suburb, Yeshwonthpur, Bangalore 560 022. Tel: +918068951000 , Fox: +9 1806895 1001 20,835.60 18,525.04 2,905.97 80.37 59,507.82 62,954.72 8,017.94 4,276.68 217.65 1,190.36 178,512 .15 42,982.55 36,989.90 3 1,458.53 1,373 .83 - 13,219.89 ll,382.07 137,406.77 315,918.92 3,661.43 224,932.46 228,593.89 1,358 .19 15,201.33 5,139.88 21,699.40 10, 162.55 3,007 .45 14,161.70 4,320.78 27,177.52 1,807.61 2,341.20 2,646 .82 65,625.63 315,918.92 E-Mail: info@gokaldasexports .com CIN: Ll810 1KA2004PLC033475 (in Rs Lakhs) Mar 31, 2025 Audited 20,326.30 6,38 1.57 391.36 100.05 52,308.76 55,664.60 4,977.50 2,848.27 217.65 708.40 143,924.46 45,805.14 31,892.91 26,710.50 12,212.40 17.06 4,135.58 11,639.84 132,413.43 276,337 .89 3,573.33 210,919.21 214,492.54 - 4,939.67 1,632.91 6,572.58 11,522.78 1,764.28 15,332.87 2,759.21 15,922 .84 2,029 .61 5,266 .13 675 .05 SS,272.77 276,337.89 01 ◄
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gokaldas exports ltd Statement of stand alone unaudited ca sh flows for the half yea r ended Sentembcr 30 2025 ' (in Rs Lakhs) Half year ended Cash flow from operating activities Profit before tax AdJustments to reconcile profit before tax to net cash flows: Depreciation and amortisation expense Net gain on disposal of property, plant and equipment Unreal ised foreign exchange (gain)/loss, (net) Gain on sale of investments in mutual fund units (including fair value gain) Gain on derivative contracts Income from governmen t grants Share based payment expenses Interest income Finance costs Provision for doubtful debts Provision no longer required written back Operating profit before working capital changes Changes in working capital: (Increase)/ decrease in other financial assets (Increase)/ decrease in other assets (Increase)/ decrease in inventories (Increase)/ decrease in trade receivables Increase/ (decrease) in provisions for employee benefits Increase/ (decrease) in trade payables Increase/ (decrease) in other financial liabilities Increase/ (dec rease) in other liabilities Cash generated from operations Direct taxes refunded/ (paid) (net) Net cash flows from operating activities (A) Cash flow from investing activities Purchase of property, plant and equ ipment (including intangible assets and capital work-in-progress) Proceeds from sale of property, plant and equipment Investments in bank deposits Redemption of bank deposits Investment in subsidiaries Investment in optionally convertib le debentures Investment in equity shares Loan given to subs idiaries Investment in mutual fund units Proceeds from sale of investment in mutual fund units Interest income Net cash flows from/ (used in) investing activities (B) Cash flow from financing activities Proceeds from issue of shares/ exercise of share options Proceeds of borrowings Repayment of borrowings Payment oflease liabilities Finance costs paid Net cash flows from/ (used in) financing activities (C) Net increase/ (decrease) in cash and cash equivalents (A+B+C) Cash and cash equiva lents at the beginning of the year Cash and cash equivalents at the end oftb e year Components of cash and cash equivalents ~~~~x~Por1u> Cash and cash equivalents Balances with banks b ~ -In current accounts ! Bn ,galore f .) Cash on hand Tota l cash and cash equivalents 7<)" /cf' ) Regd. Office:# 25, 2nd Cross,~""'M;{ Industrial Suburb, Yeshwanthpur, Bangalore 560 022. Tel : +91 80 68951000, Fax: +91 80 68951001 Sen 30 2025 12,257.16 5,014.44 (60.21) 51.38 (1,447.00) (102.00) (343.08) 792.87 (4,084 .83) 1,713.13 10.00 - 13,801.86 (345 .61) (548 .12) 2,822.59 (4,787.64) 369.50 645.10 1,743.40 (85 .09) 13,6 15.99 (956 .46) 12,659.53 (5,457.76) 139.17 - 17.06 - - (7,199 .06) (7,290. 12) (14,550.00) 10,900.0 1 (838 .04) (24,278.74) 5,359.26 54,373 .83 (54,534 .55) (3,530.56) (887.34) 780.64 (10,838 .57) 12,212.40 1,373.83 1,362.68 11.15 1,373.83 E-Mail : info@gokaldasexport s.com CIN : L 18101 KA2004PLC033475 Sen JO 2024 10,517.84 3,720.07 (8.12) (45 .68) (1,458.22) - (161.52) 1,217.00 (2,563.25) 989.95 - (4138) 12,166.69 (7,594. 13) 394.10 (2,458.14) 9,556.41 453.17 (2,190.55) 8,228.75 7.74 18,564.04 ( 1,058 80) 17,505.24 (2,270.55) 55.57 (26,272.27) 33,214.53 (0.84) (6,000.00) - (26,419.78) (51,594 .95) 19,665.2 1 258.06 (59,365.02) 59,517.05 33,050.00 (48,609.76) (2,365 .76) (607.68) 40,983.85 (875 .93) 1,408.76 532.83 528.83 4.00 532.83 ~ ;~v ·-· ·-· ~ .. lntertek I OU
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gokaldas exports ltd Notes to the standalone unaudited financial results for the quarter and half year ended September 30, 2025 1 The financial results have been prepared in accordance with Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013, as amended ('the Act") read with relevant rules issued thereunder and other accounting principles generally accepted in India. The Standalone financial results of Gokaldas Exports Limited ("the Company"), will be available on the Company's website (www.gokaldasexports.com) or on the website ofNSE (www.nse-india.com) and BSE (www.bseindia.com). 2 The statement of standalone unaudited financial results for the quarter and half year ended September 30, 2025 have been reviewed by the Audit Committee in their meeting on November 11, 2025 and approved by the Board of Directors in their meeting held on November 11, 2025. These standalone unaudited financial results have been subjected to limited review by statutory auditors of the Company. 3 During the year ended March 31, 2025, pursuant to Investment Agreement dated June 19, 2024, the Company has subscribed to Optionally Convertible Debentures (Face value of Rs. 1,000 each, with a cumulative coupon rate of 20.35% per annum compounded annually) for a consideration of Rs. 17,500 lakhs in BRFL Textiles Private Limited (BTPL) . Additionally, in the previous year, the Company extended corporate guarantees amounting to Rs. 275 crores to financial institutions on behalf of BTPL. Further, pursuant to the approval of the Board of Directors and the Investment Agreement dated June 19, 2024, during the previous quarter, executed by the Company with BTPL and its existing shareholders, the Company, for a total consideration of Rs. 5,567.10 lakhs, acquired 9,37,69,382 equity shares and 1,57,89,474 compulsorily convertible preference shares (CCPS), which were subsequently converted into 9,62,24,645 equity shares in accordance with the Amendment Agreement dated June 30, 2025. During the quarter ended September 30, 2025, the Company further acquired 1,63, 19,637 equity shares for a consideration of Rs. 1,631.96 lakhs. Accordingly, as of September 30, 2025, the Company holds 19% equity interest in BTPL. On August 9, 2025, the Board of Directors of the Company has approved the scheme of amalgamation of BRFL Textiles Private Limited with the Company and their respective shareholders under Section 230 to 232 and other applicable provisions of the Companies Act, 2013. The scheme is subject to receipt of approval from the re_levant authorities. As on date of these results, the Company is in process of obtaining the requisite approvals. The Company has assessed and concluded that there is no impact that needs to be recorded in these financial results relating to the aforementioned. 4 During the period ended September 30, 2025, employees exercised stock options aggregating to 17,73,417 equity shares in accordance with the Company's stock option scheme as approved by the Nomination and Remuneration Committee. The Company has allotted 17,61,917 equity shares of Rs. 5 each, fully paid-up, during the period ended. As of September 30, 2025, the Company has received the share application money of Rs. 34.75 lakhs in respect of 11,500 equity shares pending allotment, Subsequent to September 30, 2025, the Company has allotted remaining 11 ,500 equity shares of Rs. 302.20 each (including premium of Rs. 297.20 per equity share), fully paid-up. 5 The Company's operating segments are established in the manner consistent with the products of the Company that are evaluated regularly by the Chief Operating Decision Maker as defined in Ind AS 108 - 'Operating Segments'. The Company is engaged primarily in the business of 'manufacture and sale of apparels' and there are no separate reportab le segments as per Ind AS 108. c: xp <;, c.- Ort ofb- u>< j Bangalore §. Regd. Office : # 25, 01n, Industrial Suburb, Yeshwont ur, re 560 022. Tel: +918068951000 , Fax:+ 8951001 E-Mail : info@gokaldasexports .com CIN: L 18101 KA2004PLC0334 75
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gokaldas exports ltd 6 Previous period/ year's figures have been regrouped / reclassified, wherever necessary to confinn to the current period/ year's classification. For Gokaldas Exports Limited CTN, LIS!Of PLC033475 Sivaramakrishnan Ganapath i Vice Chairman and Managing D DIN: 07954560 Date: November 11, 2025 Place: Bengaluru Regd. Office : # 25, 2nd Cross, 3rd Main, Industrial Suburb, Yeshwanthpur, Bangalore 560 022 . Tel: +918068951000 , Fax : +918068951001 E-Mai l : info@gokaldasexpor ts.com CIN : L 18101 KA2004PLC033475 I 014
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MSKA & Associates Chartered Accountants SV Tower, No. 27, Floor 4 80 Feet Road, 6th Block, Koramangala Bengaluru 560095, INDIA Tel: +91 80 43941920 Independent Auditor's Review Report on consolidated unaudited financial results of Gokaldas Exports Limited for the quarter and year-to-date pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Gokaldas Exports Limited 1. We have reviewed the accompanying Statement of consolidated unaudited financial results of Gokaldas Exports Limited (hereinafte r referred to as 'the Holding Company'), and its subsidiaries (the Holding Company and its subsidiaries together referred to as the 'Group') for the quarter ended September 30, 2025 and the year-to-date results for the period from April 01, 2025 to September 30, 2025 ('the Statement') attac hed herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations'). 2. 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' prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with relevant rules issued thereunder ('Ind AS 34') and other recognised accounting principles generally accepted in India and is in compliance with the Regulatio ns. 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. 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 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 Securities and Exchange Board of India under Regulation 33 (8) of the Regulations, to the extent applicable. 4. This Statement includes the results of the Holding Company and the following entities: Sr. No Name of the Entity Relationship with the Holding Company 1. All Colour Garments Private Limited Subsidiary Company 2. SNS Clothing Private Limited Subsidiary Company 3. Vignesh Apparels Private Limited Subsidiary Company 4. Gokaldasexports Acharpura Private Limited Subsidiary Company 5. Sri Susamyuta Knits Private Limited Subsidiary Company 6. Gokaldas Exports FZCO, Dubai, UAE Subsidiary Company 7. Amibros S.A, UAE Subsidiary of Gokaldas Exports FZCO 8. Atraco Logistics LLC, UAE Subsidiary of Gokaldas Exports FZCO 9. Nava Apparels LLC-FZ Subsidiary Company 10. Ashton Mombasa Apparel EPZ Limited, Kenya Subsidiary of Nava Apparels LLC 11. Ashton Apparel Manufacturing Limited, Ethiopia Subsidiary of Nava Apparels LLC 12. Gokaldas Exports Corporation, USA Subsidiary Company 13. Matrix Design & Industries Private Limited Subsidiary Company Page 1 of 2 Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjalf Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, INDIA, Tel: +91 22 6238 0519 Ahmedabad I Bengaluru I Chennai I Goa I Gurugram I Hyderabad I Koehl I Kolkata I Mumbai I Pune www.mska.1n
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MS KA & Associates Chartered Accountants 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 Ind AS 34 and other recognised accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The Statement includes the financial results of three subsidiaries which are not subject to review, whose financial results reflects tota l assets of Rs. 835.39 lakhs as at September 30, 2025 and total revenue of Rs. Nil and Rs. Nil, total net loss after tax of Rs. 8.15 lakhs and Rs. 4.38 lakhs and, total comprehensive loss of Rs. 8. 71 lakhs and Rs. 4. 91 lakhs for the quarter ended September 30, 2025 and for the period from April 01, 2025 to September 30, 2025, respectively, and cash flows (net) of Rs. (39.89) lakhs for the period from April 01, 2025 to September 30, 2025, as considered in the Statement. These financial results 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 included in respect of these subsidiaries is based solely on such management prepared unaudited financial results. According to the information and explanations given to us by the Management, these financial results are not material to the Group. Our conclusion is not modified in respect of the above matter with respect to our reliance on the financial result certified by the management. For M S K A & Associates Chartered Accountants I I Firm Registration No.105047W Pan a Partner Membership No.: 233552 UDIN: 25233552BMJHWB3498 Place: Bengaluru Date: November 11 , 2025 Page 2 of 2 Head Office: 602, Floor 6, Raheja Titani um, Western Express Highway, Geetanjall Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, INDIA, Tel: •91 22 6238 0519 Ahmedabad I Bengaluru I Chennai I Goa I Gurugram I Hyderabad I Koehl I Kolkata I Mumbai I Pune www.mska.ln
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MSKA & Associates Chartered Accountants SV Tower, No. 27, Floor 4 80 Feet Road, 6th Block, Koramangala Bengaluru 560095, INDIA Tel: +91 80 43941920 Independent Auditor's Review Report on Standalone unaudited financial results of Gokaldas Exports Limited for the quarter and year-to-date pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To The Board of Directors of Gokaldas Exports Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results of Gokaldas Exports Limited (hereinafter referred to as 'the Company') for the quarter ended September 30, 2025 and the year-to-date results for the period 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 Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations'). 2. This Statement, which is t he responsibility of the Company's Management and has been 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', prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with relevant rules issued thereunder ('Ind AS 34') and other recognised accounting principles generally accepted in India and is in compliance with the Regulations. 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. 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 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. 4. Based on our review conducted 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 Ind AS 34 and other recognised accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For MS KA ft Associates Chartered Accountants C Firm Registration No. 105047W Partner Membership No.: 233552 UDIN:25233552BMJHWA5709 Place: Bengaluru Date: November 11, 2025 Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Go~egaon (E), Mumbai 400063, INDIA, Tel: +91 22 6238 051.9 Ahmedabad I Bengaluru I Chennai I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Mumbai I Pune www.mska.m