Interim report
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Date: October 26, 2026 To, Listing Department BSE Limited Phirozee Jeejeeboy Towers, Dalal Street, Fort, Mumbai – 400001. Scrip Code: 544865 To, Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 Symbol: LEAPIND Dear Sir/ Ma’am, Subject: Outcome of the Board Meeting under Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) Further to our letter dated October 19, 2026, we hereby inform you that the Board of Directors of the Company at their meeting held today, i.e. Monday, October 26, 2026, have, inter alia, considered and approved the following matters: 1. Unaudited Financial Results (Standalone & Consolidated) for the quarter and half year ended September 30, 2026 and noted the Limited Review Reports of the Statutory Auditor thereon. The said Unaudited Financial Results along with the Limited Review Reports of the Statutory Auditor thereon are enclosed herewith as ‘Annexure I’; 2. Re-classification of the Authorised Share Capital of the Company from Rs. 1265,06,66,760/- presently comprising Equity Shares, various series of Compulsorily Convertible Preference Shares and Optionally Convertible Redeemable Preference Shares to Rs. 1265, 06,66,760/- divided into 1265,06,66,760 Equity Shares of face value of Re. 1/ - (Rupee One only) each, and consequential alteration of the Capital Clause (Clause V) of the Memorandum of Association (“MOA”) of the Company, subject to the approval of the shar eholders of the Company; 3. Alteration of Articles of Association (“AOA”) of the Company by way of inserting new Article 52A to 52G in Part A incorporating provisions conferring certain special rights on the Promoters, including the right to nominate Directors on the Board of Directors of the Company and its Committees and deletion of entire Part B , subject to approval of the shareholders of the Company. A disclosure in terms of Regulation 30 read with para -A of part A of Schedule III of the SEBI Listing Regulations, as amended, read with SEBI Master Circular No. HO/49/14/14(7)2025CFD-POD2/I/3762/2026 dated January 30, 2026 (“Master Circular”) for AOA is enclosed herewith as ‘Annexure II’;
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4. Appointment of M/s . Reema Tayshete & Associates, Practi cing Company Secretaries (Firm Registration Number: S2026MH1093500 and Peer Review Certificate No. 2227/2022) as Secretarial Auditor of the Company for a period of five (5) consecutive financial years commencing from the financial year 2026 -27 till financial year 2030-31, subject to approval of the shareholders of the Company. A disclosure in terms of Regulation 30 read with para-A of part A of Schedule III of the SEBI Listing Regulations, as amended, read with Master Circular is enclosed herewith as ‘Annexure III’; 5. Amendment of the Company’s pre-IPO Employee Stock Option Schemes i.e., a) LEAP India Limited – Employee Stock Option Plan - A - 2019 and b) LEAP India Limited - Employee Stock Option Plan – B - 2022, (“ESOP Schemes”) upon listing of the Company's Equity Sh ares, in uniformity with the provisions of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 and subject to ratification by the shareholders of the Company. The meeting of the Board of Directors commenced at 05.00 P.M. and concluded at 06.30 P.M. The above information is also being made available at the website of the Company i.e. https://www.leapindia.net/ We request you to kindly take the above information on record. Thanking you. Yours faithfully, For LEAP India Limited Chirag Bagadia Company Secretary, Compliance Officer and Head Legal Membership No.: A21579 Encl.: As above
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Walker Chandiok & Co LLP 42nd Floor, Building Commerz III, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai-400063 T +91 22 6626 2699 Chartered Accountants Offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Dehradun, Goa, Gurugram, Hyderabad, Indore, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India Independent Auditor’s Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Financial 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 LEAP India Limited (formerly known as LEAP India Private Limited) 1. We have reviewed the accompanying statement of standalone unaudited financial results (‘the Statement’) of LEAP India 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’). Attention is drawn to the fact that the figures for the corresponding quarter ended 30 September 2025 and year-to-date period ended 1 April 2025 to 30 September 2025 have been approved by the Company’s Board of Directors, but have not been subjected to audit or review. 2. 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. 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 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. Annexure I
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LEAP India Limited Independent Auditor’s Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in 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. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 Anamitra Das Partner Membership No.: 062191 UDIN: 26062191AGHIWG4585 Place: Gurgaon Date: 26 October 2026 Anamitra Das Digitally signed by Anamitra Das Date: 2026.10.26 18:04:59 +05'30'
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A. STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR TO DATE PERIOD ENDED 30 SEPTEMBER 2026 Year ended 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 31 March 2026 Unaudited Unaudited Unaudited (Refer note 7) Unaudited Unaudited (Refer note 7) Audited 1 Income (a) Revenue from operations 1,732.46 1,688.13 1,529.42 3,420.59 2,970.65 6,145.52 (b) Other income 71.28 124.70 25.39 195.98 122.11 289.25 Total income 1,803.74 1,812.83 1,554.81 3,616.57 3,092.76 6,434.77 2 Expenses (a) Purchase of stock-in-trade 127.53 98.77 54.39 226.30 88.01 282.96 (b) Changes in inventories of stock-in-trade (2.21) (5.00) 7.66 (7.21) (6.66) (15.29) (c) Employee benefits expense 200.12 180.19 145.93 380.31 297.47 647.33 (d) Finance costs 186.52 220.23 210.76 406.75 415.10 835.90 (e) Depreciation and amortisation expenses 528.92 520.56 460.36 1,049.48 890.36 1,893.30 (f) Other expenses 452.48 471.67 523.93 924.15 993.62 1,995.20 Total expenses 1,493.36 1,486.42 1,403.03 2,979.78 2,677.90 5,639.40 3 Profit before exceptional item and tax (1-2) 310.38 326.41 151.78 636.79 414.86 795.37 4 Exceptional items - Prepayment charges on long term borrowings/ Non-Convertible Debentures 68.49 - - 68.49 - - 5 Profit before tax (3-4) 241.89 326.41 151.78 568.30 414.86 795.37 6 Tax expense/ (credit) (a) Current tax - - - - - (5.46) (b) Deferred tax 61.32 81.71 38.20 143.03 104.41 195.68 61.32 81.71 38.20 143.03 104.41 190.22 7 Profit for the period/ year (5-6) 180.57 244.70 113.58 425.27 310.45 605.15 8 Other comprehensive income/ (loss) (a) Items not to be reclassified subsequently to profit or loss - Remeasurements of the defined benefit plan (4.44) (1.42) (0.22) (5.86) (0.43) 6.43 - Income tax relating to above items 1.12 0.36 0.05 1.47 0.11 (1.62) Other comprehensive income/ (loss) for the period/ year, net of tax (3.32) (1.06) (0.17) (4.39) (0.32) 4.81 9 Total comprehensive income/ (loss) for the period/ year, net of tax (7+8) 177.25 243.64 113.41 420.88 310.13 609.96 10 Paid up equity share capital (Face value of ₹ 1 each) 440.54 120.73 120.73 440.54 120.73 120.73 11 Other equity 14,715.78 7,096.09 6,280.87 14,715.78 6,280.87 6,838.14 12 Earnings/ (loss) per share (Face value of ₹ 1 each)* (a) Basic EPS (in ₹) 0.43 0.60 0.28 1.01 0.76 1.47 (b) Diluted EPS (in ₹) 0.43 0.59 0.27 1.01 0.75 1.46 *(Quarterly and half yearly figures are not annualised) See accompanying notes to the standalone unaudited financial results LEAP India Limited (formerly known as LEAP India Private Limited) Website: www.leapindia.net, Email: customer.support@leapindia.net, Corporate Identity No. L74900MH2013PLC245166 Registered Office: Commerz 1, 14th Floor International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai - 400063, Maharashtra, India. ₹ in million except earnings per share data Sr. No. Particulars Quarter ended Year to date period ended
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(₹ in million) As at As at 30 September 2026 31 March 2026 Audited ASSETS Non-current assets Property, plant and equipment 14,419.98 13,168.67 Capital work-in-progress - 17.75 Right-of-use assets 1,041.95 1,305.42 Other intangible assets 1,477.35 1,554.77 Intangible assets under development 5.73 3.20 Financial assets Investments 96.04 74.98 Loans 1,410.60 1,355.44 Other financial assets 68.63 70.70 Income tax assets (net) 226.86 267.67 Other non-current assets 192.98 23.53 Total non-current assets 18,940.12 17,842.13 Current assets Inventories 372.87 244.77 Financial assets Investments 1,100.11 1,068.70 Trade receivables 2,278.87 2,359.88 Cash and cash equivalents 1,739.64 54.35 Bank balances other than cash and cash equivalents above 0.42 0.01 Loans 2.53 3.25 Other financial assets 30.72 26.35 Other current assets 1,906.43 1,126.81 Total current assets 7,431.59 4,884.12 TOTAL ASSETS 26,371.71 22,726.25 EQUITY AND LIABILITIES Equity Equity share capital 440.54 120.73 Instruments entirely equity in nature - 3,154.84 Other equity 14,715.78 6,838.14 Total equity 15,156.32 10,113.71 Liabilities Non-current liabilities Financial liabilities Borrowings 2,602.79 7,231.31 Lease liabilities 556.73 768.29 Deferred tax liabilities (net) 566.31 423.00 Total non-current liabilities 3,725.83 8,422.60 Current liabilities Financial liabilities Borrowings 3,346.59 1,807.71 Lease liabilities 528.73 547.51 Trade payables - Total outstanding dues of Micro Enterprises and Small Enterprises 237.74 140.82 - Total outstanding dues of creditors other than Micro Enterprises and Small Enterprises 756.73 706.59 Other financial liabilities 2,425.74 693.20 Other current liabilities 168.22 272.45 Provisions 25.81 21.66 Total current liabilities 7,489.56 4,189.94 Total liabilities 11,215.39 12,612.54 TOTAL EQUITY AND LIABILITIES 26,371.71 22,726.25 B. STANDALONE STATEMENT OF ASSETS AND LIABILITIES Particulars Unaudited See accompanying notes to the standalone unaudited financial results
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C. STANDALONE STATEMENT OF CASH FLOW (₹ in million) Particulars Half year ended Half year ended 30 September 2026 30 September 2025 Unaudited Unaudited (Refer note 7) CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 568.30 414.86 Adjustments for: Depreciation and amortisation expenses 1,049.48 890.36 Loss on redemption of investments (net) Finance costs 475.24 415.10 Interest income on bank deposits (4.73) (1.63) Interest income on financial assets measured at amortised cost (60.35) (51.97) Net gain due to change in fair value of current investments (31.41) (37.29) Gain on sale of property, plant and equipment (net) (93.05) (0.55) Excess provision written back Gain on termination of lease (0.72) (15.52) Impairment losses on financial assets 86.75 30.78 Share based payment expense (net) 36.55 28.49 Operating profit before working capital changes 2,026.06 1,672.63 Adjustments for: Decrease / (increase) in trade receivables (5.75) (433.49) Increase in financial and other assets (1.99) (248.68) Increase in inventories (128.11) (26.71) Increase in trade payables 147.07 190.67 Increase in financial and other liabilities 936.71 (43.27) Cash flows generated from operations 2,973.99 1,111.15 Direct taxes paid (net) 40.81 (16.08) Net cash generated from operating activities - [A] 3,014.80 1,095.07 CASH FLOW FROM INVESTING ACTIVITIES Purchase of property, plant and equipment (including capital work-in-progress, capital advances, intangible assets, intangible assets under development and payable for capital goods) (2,263.12) (1,428.16) Proceeds from sale of property, plant and equipment 317.85 98.99 Investment in equity shares of subsidiary (21.06) - Fixed deposit placed (1,748.16) - Fixed deposit matured 1,750.00 11.24 Loan repaid by subsidiary - 42.25 Interest income received 4.73 1.63 Net cash used in investing activities - [B] (1,959.76) (1,274.05) CASH FLOW FROM FINANCING ACTIVITIES Proceeds from issue of equity shares (including securitites premium) 4,582.86 - Proceeds from long-term borrowings (net off processing fees) 548.45 1,256.64 Repayment of long-term borrowings (4,032.38) (515.49) Proceeds /(repayment) of short-term borrowings (net) 418.27 (20.67) Principal repayment of lease liabilities (320.44) (216.34) Finance cost paid (including interest expense on lease liabilities) (566.51) (415.10) Net cash (used in)/generated from financing activities - [C] 630.25 89.04 Net decrease in cash and cash equivalents - [A+B+C] 1,685.29 (89.94) Cash and cash equivalents at the beginning of the period 54.35 131.55 Cash and cash equivalents at the end of the period 1,739.64 41.61 Component of cash and cash equivalents for statement of cash flows: Balances with banks: in current accounts 1,137.64 41.61 bank deposits with original maturity less than 3 months 602.00 - Total 1,739.64 41.61 Notes: 1) The Standalone Statement of Cash Flow has been prepared under the "indirect method" as set out in Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows. 2) Significant non cash movement during the quarter and period ended 30 September 2026 includes: - Conversion of Compulsory Convertible Preference Share ('CCPS') into equity shares of the Company aggregating ₹ 289.62 million. 3) Significant non-cash movement during the six-month period ended 30 September 2025 includes - Issuance of bonus equity shares and 0.001% Series K Cumulative Compulsory Convertible Preference shares amounting to ₹ 90.55 million and ₹ 72.40 million respectively.
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1 2 3 4 Objects of the Offer Utilization planned Utilized upto 30 September 2026 Unutilized amount as on 30 September 2026 (Refer note a,b and c) Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company 3,600.00 3,596.10 3.90 General corporate purposes 982.86 316.04 666.82 Issue related expenses 217.14 83.64 133.50 Total 4,800.00 3,995.77 804.23 5 6 7 8 9 For and on behalf of Board of Directors of LEAP India Limited (formerly known as LEAP India Private Limited) Sunu Mathew Chairperson, Managing Director and CEO DIN:06808369 Place: Mumbai Date : 26 October 2026 Note a: Retained in Escrow ₹ 256.22 million Note b: IPO proceeds of ₹ 450.09 million remaining unutilised as at 30 September 2025 have been temporarily invested in fixed deposits with scheduled commercial banks. Note c: Held in monitoring account ₹ 97.92 million ₹ in million The Company had completed its Initial Public Offer (IPO) of 155,974,840 equity shares of face value of ₹ 1 each at an issue price of ₹ 159 per share (including a share premium of ₹ 158 per share) on 14 August, 2026 and the mix consisted of a fresh issue of 30,188,678 equity shares aggregating to ₹4,800 million and an offer for sale of 125,786,162 equity shares by selling shareholders aggregating to ₹20,000 million. The Company's equity shares were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on 14 August 2026. Accordingly, these financial results for the quarter and half year ended 30 September 2026 have been drawn up for in accordance with the SEBI listing regulations. Further, the utilization of IPO proceeds has been tabulated below: These financial results of the Company have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 26 October 2026. Pursuant to the approval accorded by the Operational Committee of Leap India Limited at its meeting held on 26 August 2026, the Company approved an equity contribution of USD 9,99,999.99 to LEAP MENA Holdings Limited, UAE, its wholly owned subsidiary, to be remitted in one or more tranches. The standalone unaudited financial results ("financial results") of LEAP India Limited ('the Company') have 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 Regulations 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 (as amended). LEAP India Limited (formerly known as LEAP India Private Limited) CIN : L74900MH2013PLC245166 Registered Office: Commerz 1, 14th Floor International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai - 400063, Maharashtra, India. Email: compliance@leapindia.net | website:www.leapindia.net The Chief Operating Decision Maker (CODM) monitors the operating results of the Company as a whole for the purpose of making decisions about resource allocation and performance assessment. The Company is engaged in the business of providing pooling of assets services. Thus, in the context of Ind AS 108 on Segment Reporting, it is considered to constitute a single primary segment, and there are no separate geographical segments. Figures for the previous period/ year have been regrouped/ reclassified wherever necessary to conform to the current period's classification. The impact of such regrouping/ reclassification is not material to the financial results. Subsequent to the half year ended 30 September 2026, as part of its strategic growth initiatives and business expansion strategy, the Company incorporated Vimprotech Private Limited, a wholly owned subsidiary, in India on 01 October 2026 and Total Integrated Packaging Solutions Limited, a wholly owned subsidiary, in India on 05 October 2026 The financial results for the quarter and half year ended 30 September 2025 have been certified by the management and approved by Board of Directors of the Company but have not been subject to limited review or audit. However, the management has exercised necessary diligence to ensure that the financial results for the quarter and the half year ended provide a true and fair view of the Company's affairs. The above financial results of the Company for the quarter ended 30 September 2026 are available on the Company website (www.leapindia.net) and also on the website of BSE Limited ("BSE") (www.bseindia.com) and National Stock Exchange of India Limited ("NSE") (www.nseindia.com) where the shares of the Company are listed. SUNU PHILIP MATHEW Digitally signed by SUNU PHILIP MATHEW DN: c=IN, postalCode=400101, st=MAHARASHTRA, street=18034, SILVER OAK, RAHEJA WILLOWS ,AKURLI ROAD ,MUMBAI SUBURBAN,LOKHANDWALA, KANDIVALI EAST ,400101, l=MUMBAI SUBURBAN, o=Personal, serialNumber=d6c7ab9ee24ea9752d9b2bb13e55f7623676005c8a78ecdbdc4d 9a4259fa8ea0, pseudonym=4cceaf780ec94dddb98bbdf0f7dbd637, 2.5.4.20=0175b189412131378dda23040d880872ad282e121cd88a7024eb1ca4e 3842c89, email=SUNU.MATHEW@LEAPINDIA.NET, cn=SUNU PHILIP MATHEW Date: 2026.10.26 17:04:01 +05'30'
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Chartered Accountants Offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Dehradun, Goa, Gurugram, Hyderabad, Indore, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001, India Walker Chandiok & Co LLP 42nd Floor, Building Commerz III, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai-400063 T +91 22 6626 2699 Independent Auditor’s Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Holding Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of LEAP India Limited (formerly known as LEAP India Private Limited) 1. We have reviewed the accompanying statement of unaudited consolidated financial results (‘the Statement’) of LEAP India Limited (‘the Holding Company’) and its subsidiaries (the Holding Company and its subsidiaries together referred to as ‘the Group’), (refer Annexure 1 for the list of subsidiaries 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’). Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended 30 September 2025 and the corresponding period from 1 April 2025 to 30 September 2025, as reported in the Statement have been approved by the Holding Company’s Board of Directors but have not been subjected to audit or review. 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 (‘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. 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 the Standards on Auditing specified under section 143(10) of the Act, and consequently, does
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LEAP India Limited Independent Auditor’s Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Holding Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) 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. 4. 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, 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. 5. The Statement includes the interim financial results of three (3) subsidiaries, which have not been reviewed by their auditors, whose interim financial results reflects total assets of ₹ 20.18 million as at 30 September 2026, and total revenues of ₹ Nil and ₹ Nil , net loss after tax of ₹ 6.68 million and ₹ 6.68 million, total comprehensive loss of ₹ 6.68 million and ₹ 6.68 million for the quarter and six-month period ended 30 September 2026 respectively, net cash outflows of ₹ Nil for the period ended 30 September 2026 as considered in the Statement, and have been furnished to us by the Holding Company’s management. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, are based solely on such 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 this matter with respect to our reliance on the financial results certified by the Board of Directors. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 Anamitra Das Partner Membership No. 062191 UDIN: 26062191RUATUC3693 Place: Gurgaon Date: 26 October 2026 Anamitra Das Digitally signed by Anamitra Das Date: 2026.10.26 18:06:59 +05'30'
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LEAP India Limited Independent Auditor’s Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Holding Company 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 Sr No. Subsidiary Companies 1 Taron Material Handling Equipments Private Limited 2 LEAP GULF Company 3 LEAP MENA Holdings Limited (UAE) (w.e.f 1 July 2026) 4 LEAP Pallet Pooling Trading LLC (UAE) (w.e.f 21 August 2026)
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₹ in million except earnings per share data Year ended 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 31 March 2026 Unaudited Unaudited Unaudited (Refer note 7) Unaudited Unaudited (Refer note 7) Audited 1 Income (a) Revenue from operations 2,111.89 2,034.13 1,786.65 4,146.02 3,494.59 7,295.33 (b) Other income 47.36 100.26 (24.61) 147.62 67.06 178.22 Total income 2,159.25 2,134.39 1,762.04 4,293.64 3,561.65 7,473.55 2 Expenses (a) Purchase of stock-in-trade 160.42 94.38 60.75 254.80 110.46 324.97 (b) Changes in inventories of stock-in-trade (14.20) 7.02 7.66 (7.18) (6.66) (27.34) (c) Employee benefits expense 411.20 374.49 291.61 785.69 582.93 1,283.46 (d) Finance costs 214.78 246.65 243.90 461.43 464.53 936.47 (e) Depreciation, amortisation and impairment expenses 575.65 564.89 488.75 1,140.54 957.50 2,043.30 (f) Other expenses 504.41 517.03 522.53 1,021.44 1,052.39 2,104.17 Total expenses 1,852.26 1,804.46 1,615.20 3,656.72 3,161.15 6,665.03 3 Profit before exceptional item and tax (1-2) 306.99 329.93 146.84 636.92 400.50 808.52 4 Exceptional items - Prepayment of long term borrowings/Non-Convertible Debentures 68.49 - - 68.49 - - 5 Profit before tax (3-4) 238.50 329.93 146.84 568.43 400.50 808.52 6 Tax expense / (credit) (a) Current tax - - 0.01 - 0.01 (5.46) (b) Deferred tax 60.46 82.60 36.96 143.06 100.80 190.57 60.46 82.60 36.97 143.06 100.81 185.11 7 Profit for the period/ year (5-6) 178.04 247.33 109.87 425.37 299.69 623.41 8 Other comprehensive income/ (loss) (a) Items not to be reclassified subsequently to profit or loss - Remeasurements of the defined benefit plan (5.94) 0.91 0.40 (5.03) 0.80 8.15 - Income tax relating to above items 1.49 (0.23) (0.10) 1.27 (0.20) (2.05) Other comprehensive income/ (loss) for the period/ year, net of tax (4.45) 0.68 0.30 (3.76) 0.60 6.10 9 Total comprehensive income for the period/ year, net of tax (7 + 8) 173.59 248.01 110.17 421.61 300.29 629.51 Net profit/ (loss) attributable to Owner's of the parent 178.04 247.33 109.87 425.37 299.69 623.41 Non- controlling interest - - - - - - Other comprehensive income/ (loss) for the period/ year attributable to Owner's of the parent (4.45) 0.68 0.30 (3.76) 0.60 6.10 Non- controlling interest - - - - - - Total comprehensive income/ (loss) for the period/ year attributable to Owner's of the parent 173.59 248.01 110.17 421.61 300.29 629.51 Non- controlling interest - - - - - - 10 Paid up equity share capital (Face value of ₹ 1 each) 440.54 120.73 120.73 440.54 120.73 120.73 11 Other equity 14,670.78 7,052.32 6,217.36 14,670.78 6,217.36 6,787.75 12 Earnings/ (loss) per share (Face value of ₹ 1 each)* (a) Basic EPS (in ₹) 0.43 0.60 0.73 1.02 0.73 1.52 (b) Diluted EPS (in ₹) 0.42 0.60 0.72 1.01 0.73 1.50 * (Quartely and half yearly figures are not annualised) See accompanying notes to the consolidated unaudited financial results Particulars LEAP India Limited (formerly known as LEAP India Private Limited) Website: www.leapindia.net, Email: customer.support@leapindia.net, Corporate Identity No. L74900MH2013PLC245166 Registered Office: Commerz 1, 14th Floor International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai - 400063, Maharashtra, India. A. STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR TO DATE PERIOD ENDED 30 SEPTEMBER 2026 Quarter ended Year to date period ended Sr. No.
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(₹ in million) As at As at 30 September 2026 31 March 2026 Unaudited Audited ASSETS Non-current assets Property, plant and equipment 16,265.16 14,807.35 Capital work in progress 11.56 81.11 Right-of-use assets 1,055.61 1,322.00 Goodwill 418.24 418.24 Intangible assets 1,564.65 1,645.82 Intangible assets under development 5.73 3.20 Financial assets Other financial assets 81.27 75.31 Income tax assets (net) 251.55 296.91 Other non-current assets 281.56 49.23 Total non-current assets 19,935.33 18,699.17 Current assets Inventories 468.01 332.37 Financial assets Investments 1,100.11 1,068.70 Trade receivables 2,628.52 2,623.19 Cash and cash equivalents 1,815.36 61.39 Bank balances other than cash and cash equivalents above 0.42 7.48 Loans 2.53 3.25 Other financial assets 30.72 13.11 Other current assets 1,957.32 1,201.80 Total current assets 8,002.99 5,311.29 TOTAL ASSETS 27,938.32 24,010.46 EQUITY AND LIABILITIES Equity Equity share capital 440.54 120.73 Instruments entirely equity in nature - 3,154.84 Other equity 14,670.78 6,787.75 Total equity 15,111.32 10,063.32 Liabilities Non-current liabilities Financial liabilities Borrowings 3,781.89 8,093.96 Lease liabilities 573.01 780.60 Provisions 31.24 14.66 Deferred tax liabilities (net) 574.99 433.34 Total non-current liabilities 4,961.13 9,322.56 Current liabilities Financial liabilities Borrowings 3,471.23 2,083.29 Lease liabilities 528.73 555.07 Trade payables - Total outstanding dues of micro enterprises and small enterprises 241.89 146.28 - Total outstanding dues of creditors other than micro enterprises and small enterprises815.97 717.05 Other financial liabilities 2,543.66 773.74 Other current liabilities 234.41 314.53 Provisions 29.98 34.62 Total current liabilities 7,865.87 4,624.58 TOTAL EQUITY AND LIABILITIES 27,938.32 24,010.46 B. CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES Particulars See accompanying notes to the consolidated unaudited financial results
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C. CONSOLIDATED STATEMENT OF CASH FLOW (₹ in million) Half year ended Half year ended 30 September 2026 30 September 2025 Unaudited Unaudited (Refer note 7) CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 568.43 400.50 Adjustments for Depreciation, amortisation and impairment expenses 1,140.54 957.50 Finance cost 529.92 464.53 Interest income on bank deposits (4.95) (2.11) Interest income on financial assets measured at amortised cost (9.26) (2.87) Net gain due to change in fair value of current investments (31.41) (37.29) Impairment losses on financial assets 87.02 33.42 Gain on sale of property, plant and equipment (net) (99.90) (4.67) Gain on termination of lease (0.72) (15.52) Share based payment expense (net) 38.86 31.29 Operating profit before working capital changes 2,218.53 1,824.78 Adjustments for: Increase in trade receivables (92.35) (467.31) Increase in financial and other assets (79.86) (217.66) Increase in inventories (135.64) (49.01) Increase in trade payables 194.54 263.45 Increase in financial and other liabilities 989.21 (84.04) Cash flows generated from operations 3,094.43 1,270.21 Direct taxes paid (net) 45.36 (23.79) Net cash generated from operating activities - [A] 3,139.79 1,246.42 CASH FLOW FROM INVESTING ACTIVITIES Purchase of property, plant and equipment (including capital work-in-progress, intangible assets under development, capital advances, payable for capital goods and intangible assets) (2,579.24) (2,019.31) Proceeds from sale of property, plant and equipment and assets held for sale 337.13 123.52 Investments in bank deposits (1,748.38) - Proceeds from maturity of bank deposits 1,750.00 14.88 Interest income 4.86 1.55 Net cash used in investing activities - [B] (2,235.62) (1,879.36) CASH FLOW FROM FINANCING ACTIVITIES Proceeds from Issue of Equity Share Capital 4,582.88 - Proceeds from long-term borrowings 877.23 1,746.78 Repayment of long-term borrowings (4,146.90) (614.85) Proceeds/ (repayment) of short-term borrowings (net) 542.90 (20.67) Principal repayment of lease liabilities (326.30) (219.40) Finance cost paid (including interest expense on lease liabilities) (680.01) (452.42) Net cash generated from financing activities - [C] 849.80 439.44 Net increase/ (decrease) in cash and cash equivalents - [A+B+C] 1,753.97 (193.50) Cash and cash equivalents at the beginning of the period 61.39 263.93 Cash and cash equivalents at the end of the period 1,815.36 70.43 Component of cash and cash equivalents for statement of cash flows: Balances with banks: in current accounts 75.72 70.43 - Deposits with original maturity of less than three months 1,739.64 - 1,815.36 70.43 Particulars Notes: 1) The Consolidated Statement of Cash Flow has been prepared under the indirect method as set out in Indian Accounting Standard (Ind AS 7) statement of cash flows. 2) Significant non cash movement during the period ended 30 September 2026 includes: - Conversion of Compulsory Convertible Preference Share ('CCPS') into equity shares of Holding Company aggregating ₹ 289.62 million. 3) Significant non-cash movement during the six-month period ended 30 September 2025 includes: - Issuance of bonus equity shares and 0.001% Series K Cumulative Compulsory Convertible Preference shares amounting to ₹ 90.55 million and ₹ 72.40 million respectively.
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1 2 3 4 Objects of the Offer Utilisation planned Utilised upto 30 September 2026 Unutilized amount as on 30 September 2026 (Refer note a,b and c) Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company 3,600.00 3,596.10 3.90 General corporate purposes 982.86 316.04 666.82 Issue related expenses 217.14 83.64 133.50 Total 4,800.00 3,995.77 804.23 5 6 7 8 9 For and on behalf of Board of Directors of LEAP India Limited (formerly known as LEAP India Private Limited) Sunu Mathew DIN: 06808369 Chairperson, Managing Director and CEO Place: Mumbai Date : 26 October 2026 Note a: Retained in Escrow ₹ 256.22 million Note b: IPO proceeds of ₹ 450.09 million remaining unutilised as at 30 September 2025 have been temporarily invested in fixed deposits with scheduled commercial banks. Note c: Held in monitoring account ₹ 97.92 million Figures for the previous period/ year have been regrouped/ reclassified wherever necessary to conform to the current period's classification. The impact of such regrouping/ reclassification is not material to the financial results. Subsequent to the half year ended 30 September 2026, as part of its strategic growth initiatives and business expansion strategy, the Company incorporated Vimprotech Private Limited, a wholly owned subsidiary, in India on 01 October 2026 and Total Integrated Packaging Solutions Limited, a wholly owned subsidiary, in India on 05 October 2026 The financial results for the quarter and half year ended 30 September 2025 have been certified by the management and approved by Board of Directors of the Group but have not been subject to limited review or audit. However, the management has exercised necessary diligence to ensure that the financial results for the quarter and the half year ended provide a true and fair view of the Group's affairs. The above financial results of the Group for the quarter and half year ended 30 September 2026 are available on the Holding Company website (www.leapindia.net) and also on the website of BSE Limited ("BSE") (www.bseindia.com) and National Stock Exchange of India Limited ("NSE") (www.nseindia.com) where the shares of the Holding Company's are listed. The Chief Operating Decision Maker (CODM) monitors the operating results of the Group as a whole for the purpose of making decisions about resource allocation and performance assessment. The Group is engaged in the business of providing pooling of assets services. Thus, in the context of Ind AS 108 on Segment Reporting, it is considered to constitute a single primary segment, and there are no separate geographical segments. ₹ in million The consolidated unaudited financial results ("financial results") of LEAP India Limited ('the Holding Company') and its subsidiaries (together referred to as the 'Group') have 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 Regulations 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 (as amended). LEAP India Limited CIN : L74900MH2013PLC245166 Registered Office: Commerz 1, 14th Floor International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai - 400063, Maharashtra, India. Email: compliance@leapindia.net | website:www.leapindia.net Notes to the consolidated unaudited financial results for the quarter and year to date period ended 30 September 2026 These financial results of the Group have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 26 October 2026. Following is the list of subsidiaries forming part of the financial results: a. Taron Material Handling Equipments Private Limited (TMHEPL) b. LEAP GULF Company (w.e.f. 3 December 2025) c. LEAP MENA Holdings Limited Pursuant to the approval accorded by the Operational Committee of Leap India Limited at its meeting held on 26 August 2026, the Group approved an equity contribution of USD 9,99,999.99 to LEAP MENA Holdings Limited, UAE, its wholly owned subsidiary, to be remitted in one or more tranches. The Holding Company had completed its Initial Public Offer (IPO) of 155,974,840 equity shares of face value of ₹ 1 each at an issue price of ₹ 159 per share (including a share premium of ₹ 158 per share). The issue consisted of a fresh issue of 30,188,678 equity shares aggregating to ₹4,800 million and an offer for sale of 125,786,162 equity shares by selling shareholders aggregating to ₹ 20,000 million. The Holding Company's equity shares were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on 14 August 2026. Accordingly, these financial results for the quarter and the half year ended 30 September 2026 have been drawn up in accordance with the SEBI listing regulations. Further, the utilisation of IPO proceeds has been tabulated below: SUNU PHILIP MATHEW Digitally signed by SUNU PHILIP MATHEW DN: c=IN, postalCode=400101, st=MAHARASHTRA, street=18034, SILVER OAK, RAHEJA WILLOWS ,AKURLI ROAD ,MUMBAI SUBURBAN,LOKHANDWALA, KANDIVALI EAST ,400101, l=MUMBAI SUBURBAN, o=Personal, serialNumber=d6c7ab9ee24ea9752d9b2bb13e55f7623676005c8a78ecd bdc4d9a4259fa8ea0, pseudonym=4cceaf780ec94dddb98bbdf0f7dbd637, 2.5.4.20=0175b189412131378dda23040d880872ad282e121cd88a7024e b1ca4e3842c89, email=SUNU.MATHEW@LEAPINDIA.NET, cn=SUNU PHILIP MATHEW Date: 2026.10.26 17:03:11 +05'30'
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Annexure II Details of proposed alterations to Articles of Association Particulars 1. Mr. Sunu P. Mathew (the “Individual Promoter”) and Vertical Holdings II Pte. Ltd. (“Vertical”) (together, the “Promoters”) are the promoters and shareholders of LEAP India Limited (the “Company”). They entered into an Inter-se Agreement dated August 28, 2025 (the “ISA”), before the equity shares of the Company were listed on BSE Limited and National Stock Exchange of India Limited (together, the “Stock Exchanges”) on August 14, 2026. 2. The ISA, inter alia, confers certain special rights on the Promoters, including the right to nominate Directors on the Board of Directors of the Company and its Committees. To give effect to these special rights and related provisions, it is proposed to insert new Articles 52A to 52G after the existing Article 52 in Part A of the Articles of Association of the Company (the “AOA”). This is subject to the approval of the shareholders of the Company by way of a special resolution, including approval of the said special rights under Regulation 31B of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. 3. Part B of the AOA ceased to be effective on the listing of the Company’s equity shares on the Stock Exchanges. It is therefore proposed to delete Part B in its entirety and to omit all references to “Part A” and “Part B” throughout the AOA. This will give the AOA a clear and coherent structure and remove any potential ambiguity. It is also subject to the approval of the shareholders of the Company by way of a special resolution.
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Annexure III Appointment of Secretarial Auditor Sr. No. Details of event required to be disclosed Information of such event(s) 1. Reason for change viz. appointment Appointment of M/s. Reema Tayshete & Associates, Practi cing Company Secretaries (Firm Registration Number: S2026MH1093500 and Peer Review Certificate No. 2227/2022), as Secretarial Auditor of the Company. 2. Date of appointment & term of appointment The Board of Directors of the Company at their meeting held on October 26, 2026 have approved the appointment of M/s. Reema Tayshete & Associates, Practi cing Company Secretaries as Secretarial Auditor of the Company for a period of five (5) consecutive financial years commencing from the financial year 2026-27 till financial year 2030-31, subject to approval of the shareholders of the Company. 3. Brief profile M/s. Reema Tayshete & Associates is a sole proprietorship firm of Practicing Company Secretary led by CS Reema A. Tayshete, bringing over 13 years of post -qualification experience in corporate law, secretarial audit, corporate governance and regulatory compliances. 4. Disclosure of relationships between directors (in case of appointment of a director) Not Applicable