Interim report
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Nuvoco Vistas Corp. Ltd. Registered Office: Equinox Business Park, Tower-3, East Wing, 4th Floor, Off. Bandra Kurla Complex, LBS Road, Kurla (West), Mumbai-400070 Tel: +91 (0) 22 67692500 / +91 (0) 22 67692525 | Fax: +91 (0) 22 67692572 | website: www.nuvoco.com | CIN- L26940MH1999PLC118229 Ref. No.: Sec/114/2026-27 October 22, 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001 Scrip Code: 543334 Scrip ID: NUVOCO The National Stock Exchange of India Limited Exchange Plaza, C – 1, Block G, Bandra Kurla Complex, Bandra East, Mumbai – 400 051 Trading Symbol: NUVOCO Scrip Code: NVCL 28 and NVCL 77A Dear Sir/ Madam, Sub: Intimation of Outcome of the Board Meeting under Regulations 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Further to our letter no. Sec/103/2026-27 dated September 30 , 2026 and pursuant to Regulations 33 and 52 of the Listing Regulations, we hereby inform you that the Board of Directors of the Company at their meeting held today i.e. Thursday, October 22, 2026 have inter alia considered and approved the Unaudited Standalone and Consolidated Financial Results of the Company (with Limited Review Reports) for the quarter and half year ended September 30, 2026 (“Financial Results”). The Financial Results along with the Limited Review Reports in this regard are attached. The Financial Results are being made available on the Company’s website at www.nuvoco.com. The meeting of the Board commenced at 5:40 p.m. and concluded at 6:40 p.m. We request you to take the above on record. Thanking you, Yours faithfully, For Nuvoco Vistas Corporation Limited Shruta Sanghavi SVP and Company Secretary Encl: a/a
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Walker Chandiok &_Co LLP Walker Chandiok & Co LLP 42nd Floor, . Building Commerz Ill, 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 Unaudited Consolidated Quarterly 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 Nuvoco Vistas Corporation Limited 1. We have reviewed the accompanying statement of unaudited consolidated financial results ('the Statement') of Nuvoco Vistas Corporation Limited ('the Holding Company') and its subsidiaries (the Holding Company and its subsidiaries together referred to as 'the Group') and its associate and joint venture (refer Annexure 1 for the entities included in the Statement) for the quarter ended 30 September 2026 and the consolidated year-to-date results for the period 01 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'). 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 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 c . ins any material misstatement. ~ e,t1r,..ND101r ~,,.7------{~ V\ \~ MUMBAI ) * \ ) ,,, \ ,,/cf;-,'::------·· .... ,~ '"D Acco\i· Chartered Accountants Walker Chandiok & Co LLP is registered with limited liability with identification Offices in Ahmadabad, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Dehradun, Goa, Gurugram, Guwahati, Hyderabad, Indore, number AAC-2085 and has its registered Jaipur, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune office at L-41, Connaught Circus, Outer Circle , New Delhi , 110001, India
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• Nuvoco Vistas Corporation Limited Independent Auditor's Review Report on Unaudited Consolidated Quarterly 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) 5. The Statement includes the Group's share of net profit/(loss) after tax of Nil and total comprehensive income/loss of Nil, for the quarter and year-to-date six months period ended on 30 September 2026, respectively, as considered in the Statement, in respect of one (1) joint venture, whose interim financial result has not been reviewed by us. This interim financial result has been reviewed by other auditor whose review report has been furnished to us by the management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of this joint venture is based solely on the review report of such other auditor and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter with respect to our reliance on the work done by and the report of the other auditor. 6. The Statement also includes the Group's share of net profit/ (loss) after tax of Nil and total comprehensive income of Nil for the quarter and year-to-date period ended on 30 September 2026 respectively, in respect of one (1) associate, based on its interim financial information, which have not been reviewed by its auditors, and has 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 the aforesaid associate, is based solely on such unreviewed interim financial information. According to the information and explanations given to us by the management, such interim financial information is not material to the Group. Our conclusion is not modified in respect of this matter with respect to our reliance on the financial iAformation certified by the management of the Holding Company. 7. The review of unaudited consolidated financial results for the quarter ended 30 June 2026, included in the Statement was carried out and reported by M/s MS KA & Associates LLP (Formerly known as MS KA & Associates), Chartered Accountants, who have expressed unmodified conclusion vide their review report dated 13 July 2026, whose review report has been furnished to us by the management and which has been relied upon by us for the purpose of our review of the Statement. Our conclusion is not modified in respect of this matter. 8. The review of unaudited consolidated quarterly and year-to-date financial results for the period ended 30 September 2025 and audit of consolidated financial results for year ended 31 March 2026 included in the Statement was carried out and reported by M/s M S KA & Associates LLP (Formerly known as M S KA & Associates), Chartered Accountants, who have expressed an unmodified conclusion vide their review report dated 15 October 2025 and unmodified opinion vide their audit report dated 14 April 2026, respectively, whose reports have been furnished to us by the management of the Holding Company and which have been relied upon by us for the purpose of our review of the Statement. Our conclusion is not modified in respect of this matter. For Walker Chandiok & Co LLP Chartered Acco Firm Registrati ~ Partner Membership No.: 109632 UDIN: 26109632SVKKLA6796 Place: Mumbai Date: 22 October 2026 Chartered Accountants Walker Chandiok & Co LLP is registered with limited liability with identification number Offices in Ahmedabad, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Dehradun, Goa, Gurugram, Guwahati, Hyderabad, Indore, AAC-2085 and has its registered office at L- Jaipur, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune 41 , Connaught Circus, Outer Circle, New Delhi, 110001 , India
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.. Nuvoco Vistas Corporation Limited Independent Auditor's Review Report on Unaudited Consolidated Quarterly 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) Annexure 1 List of entities included in the Statement Sr No. Name of the entity 1. Nuvoco Vistas Corporation Limited 2. NU Vista Limited 3. Vadrai Cement Limited 4. Algebra Endeavour Private Limited 5. Vadrai Enerqy (Gujarat) Limited 6. Wardha Vaalley Coal Field Private Limited 7. AMPIN Enerav Green (C&I) Two Private Limited Chartered Accountants Offices in Ahmedabad, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Dehradun, Goa, Gurugram, Guwahati, Hyderabad, Indore, Jaipur, Kochi, Kolkata, Mumbai, New Delhi, Naida and Pune Nature Holdinq Company Subsidiary Company Subsidiary Company Subsidiary Company Step-down subsidiary Company Joint Venture Company Associate Company 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
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.. NUVOCO VISTAS CORP. LTD. ~ -N UvOCO Shaping Q. new world ~ Nuvoco Vistas Corporation Limited Statement of Unaudited Consolidated Financial Results for the three months and six months ended September 30, 2026 (~ in crore except earnings per share data) Three months ended Six months ended Year ended September June September September September March Particulars 30, 2026 30,2026 30, 2025 30,2026 30, 2025 31,2026 Unaudited Unaudited •Unaudited Unaudited Unaudited Audited Income Revenue from operations 2,789.97 3,128.71 2,457.57 5,918.68 5,330.27 11,338.29 Other income 2.83 3.61 3.88 6.44 18.68 24.06 Total Income 2,792.80 3,132.32 2,461.45 5,925.12 5,348.95 11,362.35 Expenses Cost of materials consumed 487.89 463.88 393.09 951.77 846.71 1,756.97 Purchases of stock-in-trade 95.82 108.45 60.50 204.27 134.60 291.47 Changes in inventories of finished goods, work-in:progress and stock-in-trade (72.36) (50.12} (23.59) (122.48) (58.84) 79.20 Power and fuel 544.57 559.61 453.61 1,104.18 967.64 2,008.45 Freight and forwarding charges 705.61 838.29 647.08 1,543.90 1,432.68 3,022.71 Employee benefits expense 200.12 197.05 178.27 397.17 357.79 723.32 ' Finance costs 71.88 70.28 101.56 142.16 ., 218.69 398.29 Depreciation and amortisation expense (Refer note:- 9) 231.25 225.55 218.13 456.80 432.79 883.98 Other expenses 420.02 443.31 381.62 863.33 764.11 1,599.31 Total Expenses 2,684.80 2,856.30 2,410.27 5,541.10 5,096.17 10,763.70 ' Profit before exceptional item, share in profil/(loss) of associate and joint 108.00 276.02 51.18 384.02 252.78 598.65 venture and tax expense Exceptional item (Refer note:- 8) - - - - - 48.13 Share in profit/ (loss) of associate and joint venture (net of tax expense) - - - - - - Profit before tax 108.00 276.02 51.18 384.02 252.78 550.52 Tax expense/(credit): 1. Current tax 51.15 90.04 28.22 141.19 103.93 216.25 2. Deferred tax (7.94) 27.07 (13.47) 19.13 (15.50) (10.61) 3. Tax relating to earlier year - (0.72) - (0.72) (5.24) (14.89) Total tax expense 43.21 116.39 14.75 159.60 83.19 190.75 Profit after tax 64.79 159.63 36.43 224.42 169.59 359.77 Other Comprehensive Income/(Loss) (OCI) Items that will not be reclassified to profit or loss i. Remeasurement loss on defined benefit plans (0.77) (0.77) (1.46) (1.54) (2.04) (3.07) ii. Income tax related to above 0.28 0.26 0.50 0.54 0.71 1.08 (0.49} (0.51} (0.96) (1.00) (1.33) (1.99) Items that will be reclassified to profit or loss i. Net change in fair value of derivatives designated as cash flow hedges (0.39) (1.75) 0.52 (2.14) 0.60 2.74 ii. Income tax related to above 0.14 0.61 (0.18) 0.75 (0.21) (0.96) (0.25) (1.14} 0.34 (1.39) 0.39 1.78 Other Comprehensive Loss (0.74) (1.65) (0.62) (2.39) (0.94) (0.21) Total Comprehensive Income 64.05 157.98 35.81 222.03 168.65 359.56 Profit after tax attributable to: Owners of the Parent Company 65.28 159.76 36.43 225.04 169.59 359.35 Non-controlling interest (0.49) (0.13) - (0.62) - 0.42 Profit after tax 64.79 159.63 36.43 224.42 169.59 359.77 Other Comprehensive Loss attributable to: Owners of the Parent Company (0.74) (1.65) (0.62) (2.39) (0.94) (0.21) Non-controlling interest - - - - - - Other Comprehensive Loss (0.74) (1.65) (0.62) (2.39) (0.94) (0.21) Total Comprehensive Income attributable to: Owners of the Parent Company 64.54 158.11 35.81 222.65 168.65 359.14 Non-controlling interest (0.49) (0.13) - (0.62) - 0.42 Total Comprehensive Income 64.05 157.98 35.81 222.03 168.65 359.56 Paid-up equity share capital (Face value oft 10 each) 357.16 357.16 357.16 357.16 357.16 357.16 Other equity 9,871.61 Earnings per equity share (Face value oH 10 each) 1. Basic (t) 1.81 4.47 1.02 6.28 4.75 10.07 2. Diluted (~) 1.81 4.47 1.02 6.28 4.75 10.07 (Not ammalised except for the year ended March 31, 2026) ~ Nuvoco Vistas Corp. Ltd. Registered Office: Equinox Business Park, , 4th Floor, Off. Bandra Kurla Complex, LBS Road, Kurla (West), Mumbai 400070 Tel: +91 (0) 22 67692500 / +91 (0) 22 67692525 I Fax: +91 (0) 22 67692572 I Website: www.nuvoco.com I CIN-L26940MH1999PLC118229
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NUVOCO VISTAS CORP. LTD. ~ -NUvOCO Shaping Q. new world ~ Notes to Unau dited Consolida ted Financial Results: 1. Consolidated Segment Information - Revenue, Results, Assets and Liabilities (f in crore) Three months ended Six mon ths ended Year ended September June September September September March Particulars 30,2026 30, 2026 30,2025 30,2026 30,2025 31,2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audite d Segment revenue (including inter-segment revenue) Cement 2,510.07 2,861.84 2,217.84 5,371.91 4,848.19 10,325.25 Ready Mix Concrete and Others 292.92 279.70 257.74 572.62 512.19 1,066.23 Total 2,802.99 3,141.54 2,475.58 5,944.53 5,360.38 11,391.48 Less: Inter-sevment revenue (13.02) (12.83) (18.01) (25.85) (30.11) (53.19) Total Revenue from Operatio ns 2,789.97 3,128.71 2,457.57 5,918.68 5,330.27 11,338.29 Segment results Cement 173.06 347.37 156.27 520.43 467.35 997.20 Ready Mix Concrete and Others 3.99 (4.68) (7.41} (0.69) (14.56) (24.32) Total 177.05 342.69 148.86 519.74 452.79 972.88 Less: Finance costs (71.88) (70.28) (101.56) (142.16) (218.69) (398.29) Add: Other income 2.83 3.61 3.88 6.44 18.68 24.06 Profit before exceptional item, share in profil/(loss) of associate and join t 108.00 276.02 51.18 384.02 252.78 598.65 venture and tax expe nse ., Exceptional item - - - - - 48.13 Share in profit/ (loss) of associate and joint venture (net of tax expense) - - - - - - Profit before tax ' 108.00 276.02 51.18 384.02 252.78 550.52 Less: Tax expense 43.21 116.39 14.75 159.60 83.19 190.75 Profit after tax 64.79 159.63 36.43 224.42 169.59 359.77 Segment assets Cement 20,252.49 19,855.62 19,100.72 20,252.49 19,100.72 19,222.46 Ready Mix Concrete and Others 891.41 870.09 809.06 891.41 809.06 848.42 Unallocated 255.70 196.57 166.02 255.70 166.02 228.14 Total assets 21,399.60 20,922.28 20,075.80 21,399.60 20,075.80 20,299.02 Segment liabilities Cement 5,601.29 5,169.26 5,468.26 5,601.29 5,468.26 4,742.36 Ready Mix Concrete and Others 403.51 409.38 426.48 403.51 426.48 398.93 Unallocated 4,944.00 4,956.89 4,999.78 4,944.00 4,999.78 4,928.96 Total liabilities 10,948.80 10,535.53 10,894.52 10,948.80 10,894.52 10,070.25 Nuvoco Vistas Corp. Ltd. Registered Office: Equinox Business Park, Tower-3, East Wing, 4th Floor, Off. Bandra Kurla Complex, LBS Road, Kurla (West), Mumbai 400070 Tel: +91 (0) 22 67692500 / +91 (0) 22 67692525 I Fax: +91 (0) 22 67692572 I Website: www.nuvoco.com I CIN-L26940MH1999PLC118229
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.. NUVOCO VISTAS CORP. LTD. Notes to Unaudi ted Consoli dated Financial Results : 2. Consolidated Balance Sheet as at September 30, 2026 Particulars ASSETS NON-CUR RENT ASSETS (a) Property, plant and equipment (b) Capital work-in-progress (c) Investment property (d) Goodwill (e) Other intangible assets (f) Right of use assets (g) Intangible assets under di,velopment (h) Financial assets (i) Investmen ts (ii) Loans (iii) Other non-current financial assets (i) Income tax assets (net) 0) Other non-current assets CURRENT ASSETS (a) Inventories (b) Financial assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balances other than cash and cash equivalents (iv) Loans (v) Other current financial assets (c) Other current assets TOTAL ASSETS EQUITY AN D LIABILITIES EQUITY (a) Equity share capital (b) Other equity (c) • Non-controlling interests LIABILITIES NON-CURRENT LIABILITIES (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Other non-current financial liabilities (b) Provisions (c) Deferred tax liabilities (net) ( d) Other non-current liabilities CURRENT LIABILITIES (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payables - Total outstanding dues of micro enterprises and small enterprises - Total outstanding dues of creditors other than micro enterprises and small enterp rises (iv) Other curren t financial liabilities (b) Other current liabilities - (c) Provisions / ---:--- • . . £,\as C • e,V,!\1~0/0;, ,' . w\: 0 ¼_~ ,--., C, '\\ ~ TOTAL EQUITY AND LIABifi,Pl~g!'° \_ ~<\\ /\,... 1 (] M ,;.___, l /) )\·( MUMBAI )* I \.,~ ·i u N~ o · Shaping ~ new world ~ As at Sep tember 30, 2026 Unaudited 9,747.80 2,287.63 0.75 3,278.47 1,739.64 516.41 212.54 0.83 1.84 501.99 37.16 146.93 18,471.99 982.30 815.52 176.43 12.28 3.46 505.23 432.39 2,927.61 21,399.60 357.16 9,207.81 885.83 10,450.80 3,236.80 196.22 68.83 190.81 1,245.65 27.37 4,965.68 1,967.40 167.66 674.30 1,159.65 1,030.55 460.56 523.00 5,983.12 21,399.60 , (fin crore) As at • Ma1:ch 31, 2026 Audited 8,893.06 2,474.49 0.78 3,278.47 1,773.65 532.20 208.32 0.83 2.53 495.99 ,, 109.11 157.25 17,926.68 745.02 743.93 88.11 8.15 5.15 507.20 274.78 2,372.34 20,299.02 357.16 8,985.16 886.45 10,228.77 3,033.09 220.37 69.93 180.98 1,227.81 28.34 4,760.52 1,507.68 154.96 483.04 1,159.75 914.49 571.45 518.36 5,309.73 20,299.02 \{ ~ sf v '--0~)) '(J \ '-' \_°' 70 }._, U Nuvoco Vistas Corp. Ltd. ~\ • / f ~, * ..d ' • • Registered Office: Equinox Businest ,P~_Ik.,.,:1;_00 e'~- , East Wing, 4th ~ . Bandra Kurla Complex LBS Road Kurla (West), Mumbai 400070 Tel: +91 (0) 22 67692500 / +91 (0~ -2~ 92525 I Fax: +91 (0) 22 67692572 I Website: www.nuvoco.com I CIN-L26940MH1999PLC118229 ~ ..A\y
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NUVOCO VISTAS CORP. LTD. Notes to Unaudited Consolidated Financial Results: 3. Consolidated Statement of Cash Flows for the six months ended September 30, 2026 Particulars • (A) CASH FLOW FROM OPERATING ACTIVITIES Profit before tax Adjustments for: Depreciation and amortisation expense Unrealised loss on foreign currency translation (net) Allowance for bad/ doubtful debts and advances Provision/liabilities no longer ret{uired, written back Net gain on sale/ disposal of property, plant & equipment and termination of lease Gain on sale of current investments (net) Fair value gain on financial instruments at fair value through profit or loss Bad debts written off (net of provision written back) Provision for slow and non-moving stores and spares Interest income on bank deposits Interes t income on others Finance costs Operating profit before working capital adjustments Adjustments for working capital : Increase in inventories Increase in trade and other receivables Increase in advances and other non-current/ current assets Increase/ (Decrease) in trade and other payables, provisions and other non-curr ent/ current Income tax (paid)/refund (net) NET CASH FLOW GENERATED FROM OPERATING ACTIVITIES (B) CASH FLOW FROM INVESTING ACTIVITIES Payment for purchase/ construction of property , plant and equipment, capital work-in-progress, other intangible assets and intangible assets under development Proceeds/ (Purchase) from fixed deposit (net) Purchase of non-current investments in other companies Purchase of current investments Proceeds from sale of current investments Loans and advances (given)/ repaid (net) Interest received NET CASH FLOW USED IN INVESTING ACTIVITIES (C) CASH FLOW FROM FINANCING ACTIVITIES Repayment of non-current borrowings Proceeds from non-current borrowings Share issue expenses CCD issue expenses Proceeds from current borrowings (net) Repayment of lease liabilities (including interest) Finance costs paid NET CASH FLOW GENERATED FROM FINANCING ACTIVITIES Net Increase in cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period N~ O® Sha pi ng Q. new w orld ~ Six months period ended September 30, 2026 Unaudited 384.02 456.80 1.58 3.40 (41.26) • (0.80) (0.24) - , ., 2.14 (0.80) (1.05) 142.16 945.95 (239.42) (74.94) (168.67) 128.26 591.18 (57.62) 533.56 (779.80) (15.68) 0.00 (929.95) 930.19 2.38 2.80 (790.06) (283.13) 716.94 (8.06) 266.79 (117.52) (230.20) 344.82 88.32 88.11 176.43 (< in crore) Six months period ended September 30, 2025 Unaudited 252.78 432.79 2.19 4.06 (12.46) (0.97) (9.33) (0.02) 0.03 0.56 (0.74) (3.03) 218.69 884.55 (121.55) (60.38) (72.39) (26.84) 603.39 (17.18) 586.21 (1,923.81) (2.38) (7,106.61) 7,115.96 (0.26) 2.97 (1,914.13) (950.62) 1,240.00 (0.97) 1,450.34 (100.71) (267.81) 1,370.23 42.31 176.66 218.97
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NUVOCO VISTAS CORP. LTD. Notes to Unaudited Consolida ted Financial Results : 4. Additional disclosures regarding ratios: Sr no. (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (!) (m) (n) (o) (p) (q) Particulars Net worth (t crores) Debenture redempt ion reserve (f crores) Securities premium (t crores) Profit after tax (:t crores) Basic earnings per share/ Diluted earnings per share (in~) (Not annualised except for March 31, 2026) Debt/Equity ratio (times) [Total debt/Equity] Long term debt/Working capi tal (times) [(Non-curre nt borrowings+ Curren t maturities of non-current borrowings)/ (Net working capita l excluding current maturities of non-current borrowings) ] Total deb ts to Tota l assets (%) [(Non-current borrowings+ Current borrowings)/Total assets] Debt service coverage ratio (times)* [(Profit after tax+ Finance costs+ Depreciation and amor tisation expense + Non-cash operating expenses)/ (Finance costs pa id+ Lease payments+ Repayment of non-current borrowings)] Interes t service coverage ratio (times)# [(Profit after tax+ Finance costs+ Depreciation and amortisation expense+ Non-cas h operating expenses )/Finance costs paid] Current ratio (times) [Current assets/Current liabilities excluding current maturities of non-current borrowings] Bad debts to account receivable ratio(%) [Bad debts/ Average trade receivables] Current liability ratio(%) [Current liabilities excluding current maturities of non-current borrowings/Tota l liabilities] Debtors turnover ratio (times) [Sale of Products/ Average trade rciceivable] - trailing 12 mon ths Inventory turnover ratio (times) [Sale of Products/ Average inventory] - trailing 12 months Operating margin(%)* [(Profit before depreciation & amortisation expense and tax+ Finance costs(-) Other income)/Sale of Products] Net Profit margin(%) [Profit after tax/Sale of Products] # Excluding exceptional item and related tax for year ended March 31, 2026 * Excluding exceptional item for year ended March 31, 2026 Nuvoco Vistas Corp. Ltd. Three months ended September June 30, 2026 30, 2026 Unaudi ted Unaudi ted 10,450.80 10,386.75 12.01 12.01 5,588.71 5,588.71 64.79 159.63 1.81 4.47 0.50 0.45 (1.90) (1.55) 24.32% 22.17% 1.01 1.69 2.27 5.92 0.57 0.54 - 46.58% 48.74% 12.15 11.23 12.52 12.36 15.02% 18.63% 2.38% 5.23% ~ . NUv OCO Shaping a new world ~ Six months ended Year ended Sep tembe r September September March 30, 2025 30, 2026 30, 2025 31,2026 Unaudited Unau dited Unaudited Audite d 9,181.28 10,450.80 9,181.28 10,228.77 12.01 12.01 12.01 12.01 5,618.16 5,588.71 5,618.16 5,588.71 36.43 224.42 169.59 359.77 1.02 6.28 4.75 10.07 0.60 , 0.50 0.60 0.44 ,, (1.39) (1.90) (1.39) (1.66) 27.49% 24.32% 27.49% 22.37% 0.47 1.30 0.72 0.99 2.09 3.43 3.04 3.69 0.47 0.57 0.47 0.51 0.00% 0.00% 0.00% 0.00% 49.17% 46.58% 49.17% 45.86% 12.28 12.15 12.28 12.91 10.95 12.52 10.95 14.79 15.21 % 16.93% 16.90% 16.67% 1.51% 3.89% 3.24% 3.23% Registered Office: Equinox Business Park, Tower-3, East Wing, 4th Floor, Off. Bandra Kurla Complex, LBS Road, Kurla (West), Mumbai 400070 Tel: +91 (0) 22 67692500 / +91 (0) 22 67692525 I Fax: +91 (0) 22 67692572 I Website: www.nuvoco.com I CIN-L26940MH1999PLC118229 @ rA'r
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NUVOCO VISTAS CORP. LTD. ~ - NUvOCO Shaping Q new world ~ Notes to Unaudited Consolidated Financial Results: 5 These unaudited Consolidated Financial Results of Nuvoco Vistas Corporation Limited ("Holding Company") have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at its respective meetings held on October 22, 2026. The statutory auditors of the Holding Company have carried out limited review of the aforesaid results. 6 The above results has been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 'Interim Financial Reporting', . prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules thereunder and in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended. 7 In August 2016, the Competition Commission of India (CCI) passed an Order levying a penalty of z 490.00 crores on the Holding Company in c01mection with a complaint filed by the Builders Association of India against leading cement companies (including the Holding Company) for alleged violation of certain provisions of the Competition Act, 2002. The Holding Company had filed an appeal against the Order before the Competition Appellate Tribunal (COMPAT). The COMP AT had passed an interim order directing the Holding Company to pre-deposit 10% of the penalty amount. COMP AT was replaced by the National Company Law Appellate Tribunal (NCLAT) effective May 26, 2017, and NCLAT vide its judgment dated July 25, 2018, dismissed the Holding Company's appeal. Against the above judgment of NCLAT, an appeal is filed before the Hon'ble Supreme Court, and vide its order dated October 5, 2018, the Hon'ble Supreme Court admitted the appeal of the Holding Company and directed continuation of the interim order as originally passed by the COMP AT. The appeal is still j:,endii1g. The Holding Company under the Share Purchase Agreement ("SP A") is indemnified by erstwhile promoter group for any liability arising out of CCI order. However, the erstwhile promoter had disputed their obligation towards indemnification of any amount including interest beyond the cap of z 490.00 crores. ' Based on the reimbursable rights available with the Holding Company duly backed by legal opinion, no provision against the CC(.order of z 490.00 crores or interest thereon is considered necessary. 8 (a) The Holding Company availed Industrial Promotional Assistance for its Mejia Cement Plant (MCP) from the Government of West Bengal under the West Bengal Ihcentive Scheme 2004 with effect from April 23, 2008. The authorities disputed the claim of the Holding Company, pursuant to which, the Holding Company had filed a writ petition against the Industry, Commerce & Enterprise Department, Government of West Bengal during the year 2017-18 in the Hon'ble High Court of Calcutta (High Court). The matter is sub judice before the High Court. The Holding Company on a conservative basis discontinued the accrual of sum incentives in the books from April 1, 2019, on account of ongoing litigation. The Holding Company carried provision of z 238.22 crores as on March 31, 2025 determined on the basis of Expected Credit Loss methodology as per Ind AS 109 "Financial Instruments". (b) The subsidiary company NU Vista Limited ("NVL") had applied for Indush"ial Promotional Assistance related to its Panagarh Cement Plant (PCP) under the West Bengal State Support for Indush"ies Scheme, 2013 (WBSSIS, 2013) and was granted preliminary registration certificate (RC-I) as an eligible unit on June 27, 2017. Grant of final registration certificate (RC-II) is pending. In view of long pendency of the matter and inaction on the part of the concerned state authorities, the subsidiary company had filed writ petition before Hon'ble High Court of Calcutta (High Court). On December 8, 2022, the High Court had passed an order stating that the subsidiary company had complied with all the requirements in clause 5.3 of the policy for issuance of RC-II and directed the West Bengal Indush"ial Development Corporation (WBIDC) to issue the RC-II. The subsidiary company had filed an execution application for enforcement of the aforesaid order, which was disposed of by the High Court on May 17, 2024 directing the state authorities to grant RC-II in favour of the subsidiary company. The state authorities have filed an appeal against said orders with Divisional Bench of High Court. On conservative basis, the subsidiary company has discontinued the accrual of sum incentive in the books of account from April 1, 2023. The subsidiary company carried provision of z 167.58 crores as on March 31, 2025 determined on the basis of Expected Credit Loss methodology as per Ind AS 109 "Financial Instruments" . (c) With reference to (a) and (b) above, the West Bengal Government vide notification dated April 2, 2025 enacted the Revocation of West Bengal Incentive Smemes and Obligations in the Nature of Grants and Incentives Act, 2025 (Revocation Act) which retrospectively withdraws, rescinds, revokes, and discontinues all the incentive schemes which were introduced during the period 1993 to 2021. The Holding Company and NVL together have been advised by the legal counsel that enactment of the Revocation Act is ultra vires and unconstitutional. Accordingly, a writ petition has been filed by the Holding Company on June 16, 2025, and by NVL on June 13, 2025 before the Hon'ble High Court of Calcutta challenging the constitutional validity of the Revocation Act, whim is pending. During the quarter and year ended March 31, 2026, considering the uncertainty about timing of the recovery of incentive amount in view of the aforesaid developments, the Holding Company and it's subsidiary on a conservative basis had reassessed and recognized additional provision amounting to z 18.62 crores and z 29.51 crores respectively, determined on the basis of Expected Credit Loss methodology as per Ind AS 109 "Financial Insh"uments". The same was disclosed under "Exceptional item" in the financial results. The gross outstanding claim balance as on September 30, 2026 is z 427.14 crores and z 300.44 crores for Holding Company and subsidiary company respectively. The Holding Company and it's subsidia1y company carries provision for expected credit loss of z 256.84 crores and z 197.09 crores as on September 30, 2026 respectively. The Holding Company and it's subsidiary company, based on advice of legal counsel, are confident of the ultimate recove1y of the balance accrued till date. 9 During the quarter ended September 30, 2025, the Holding Company reassessed the estimates relating to the useful life of "Trademarks" (intangible assets) recognised during the acquisition of NU Vista Limited (erstwhile Emami Cement Limited) . Accordingly, the balance written down value of said Trademarks is being amortised over the revised remaining useful life from the date of change. 10 During the current quarter, Vadraj Cement Limited ("VCL"), a wholly owned subsidia1y of the Holding Company, commissioned 2 million metric t01mes per a1mum (MTP A) of cement grinding operations at its Limla cement plant, Surat (Gujarat). For and on behalf of Board of Directors Mumbai Date: October 22, 2026 DIN: 02099219 Nuvoco Vistas Corp. Ltd. Registered Office: Equinox Business Park, Tower-3, East Wing, 4th Floor, Off. Bandra Kurla Complex, LBS Road, Kurla (West), Mumbai 400070 Tel: +91 (0) 22 67692500 / +91 (0) 22 67692525 I Fax: +91(0) 22 67692572 I Website: www.nuvoco.com I CIN-L26940MH1999PLC118229 ~
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Walker Chandiok &_Co LLP Walker Chandiok & Co LLP 42nd Floor,. Building Commerz Ill, 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 Unaudited Standalone Quarterly and Year to Date Financial Results of the Company pursuant to the Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Nuvoco Vistas Corporation Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results ('the Statement') of Nuvoco Vistas Corporation Limited ('the Company') for the quarter ended 30 September 2026 and the year to date results for the period 01 April 2026 to 30 September 2026, being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations') read with SEBI Master Circular SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated 15 October 2025. 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 and Regulation 52 read with Regulation 63 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. 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 and Regulation 52 read with Regulation 63 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Chartered Accountants Walker Chandiok & Co LLP is registered with limited liability with identification Offices in Ahmedabad, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Dehradun, Goa, Gurugram, Guwahati, Hyderabad, Indore, number AAC-2085 and has its registered Jaipur, Kochi, Kolkata, Mumbai, New Delhi, Naida and Pune office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001 , India
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Nuvoco Vistas Corporation Limited Independent Auditor's Review Report on Unaudited Standalone Quarterly and Year to Date Financial Results of the Company pursuant to the Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) 5. The review of unaudited standalone financial results for the quarter ended 30 June 2026, included in the Statement was carried out and reported by M/s M S K A & Associates LLP (Formerly known as M S KA & Associates), Chartered Accountants, who has expressed unmodified conclusion vide their review report dated 13 July 2026, whose review report has been furnished to us by the management and which has been relied upon by us for the purpose of our review of the Statement. Our conclusion is not modified in respect of this matter. 6. The review of unaudited standalone quarterly and year-to-date financial results for the period ended 30 September 2025 and audit of standalone financial results for the year ended 31 March 2026 included in the Statement was carried out and reported by M/s M S KA & Associates LLP (Formerly known as M S KA & Associates), Chartered Accountants, who has expressed an unmodified conclusion vide their review report dated 15 October 2025 and unmodified opinion vide their audit report dated 14 April 2026, respectively, whose reports have been furnished to us by the management and which have been relied upon by us for the purpose of our review of the Statement. Our conclusion is not modified in respect of this matter. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration N : 01076N/N500013 Rakesh R. A rwal Partner Membership No.: 109632 UDIN: 26109632HKSVSR3958 Place: Mumbai Date: 22 October 2026 Chartered Accountants Walker Chandiok & Co LLP is registered with limited liability with identification number Offices in Ahmedabad, Bengaluru, Bhubaneswar, Chandigarh, Chennai, Dehradun, Goa, Gurugram, Guwahati, Hyderabad, Indore, AAC-2085 and has its registered office at L- Jaipur, Kochi, Kolkata, Mumbai, New Delhi, Naida and Pune 41, Connaught Circus , Outer Circle, New Delhi, 110001, India •
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.. NUVOCO VISTAS CORP. LTD. N~o· Shaping p. new world ~ Nuvoco Vistas Corpora tion Limited Statement of Unaudited St•ndalone Financial Results for the three months and six months ended September 30, 2026 ('{ in crore except earnings per share data) Three months ended Six months · ended Year Ended September June September September Sep tember March Particulars 30, 2026 30,2026 30,2025 30, 2026 30, 2025 31,2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited lncon1:e Revenue from operations 2,525.11 2,692.38 2,143.08 5,217.49 4,547.29 9,761.56 Other income 30.37 23.98 37.94 54.35 61.07 104.70 Total Income 2,555.48 2,716.36 2,181.02 5,271.84 4,608.36 9,866.26 Expenses Cost of materials consumed 388.05 401.73 296.17 789.78 672.20 1,369 .75 Purchases of stock-in-trade 377.12 445.11 294.07 822.23 636.35 1,428.08 Changes in inventories of finished goods, work-in-progress and stock-in-tr:ade (43.01) (58.65) (19.01) (101.66) (71.43) 21.64 Power and fuel 430.50 406.41' 353.85 836.91 741.91 1,535.24 Freight and forward ing charges 544.46 602.93 485.49 1,147.39 1,037.93 2,206.52 Employee benefits expense 167.87 163.50 147.10 331.37 297.03 609.89 Finance costs 94.03 91.19 106.84 185.22 197.31 399.28 Depreciation and amortisation expense 172.44 165.26 165.00 337.70' 315.29 642.51 Other expenses 334.27 343.31 305.01 677.58 ., 601.34 1,243.11 Total Expenses 2,465.73 2,560.79 2,134.52 5,026.52 4,427.93 9,456.02 Profit before exceptional item and tax 89.75 155.57 46.50 245.32 180.43 410.24 Exceptiona l item (Refer note:- 7) - - - - 18.62 Profit before tax 89.75 155.57 46.50 245.32 180.43 391.62 Tax expense/(credit): 1. Current tax 50.22 72.77 27.18 122.99 86.68 182.04 2. Deferred tax {15.46) (15.58) (13.21) (31.04) (24.74) (38.69) 3. Tax relating to earlier year - - - - (5.24) (11.85) Total tax expense 34.76 57.19 13.97 91.95 56.70 131.50 Profit after tax 54.99 98.38 32.53 153.37 123.73 260.12 Other Comprehensive Income/(Loss) (OCI) Items that will not be reclassified to profit or loss i. Remeasurement loss on defined benefit plans (1.47) (1.47) (1.16) (2.94) (1.44) (5.87) ii. Income tax related to above 0.51 0.52 0.40 1.03 0.50 2.06 (0.96) (0.95) (0.76) (1.91) (0.94) (3.81) Items that will be reclassified to profit or loss i. Net change in fair value of derivatives designated as cash flow hedges (0.39) (1.75) 0.52 (2.14) 0.60 2.74 ii. Income tax related to above 0.14 0.61 (0.18) 0.75 (0.21) (0.96) (0.25) (1.14) 0.34 (1.39) 0.39 1.78 Other Comprehensive Loss (1.21) (2.09) (0.42) (3.30) (0.55) (2:03) Total Comprehensive Income 53.78 96.29 32.11 150.07 123.18 258.09 Paid-up equity share capital (Face value of t 10 each) 357.16 357.16 357.16 357.16 357.16 357.16 Other equity 9,073.91 Earnings per equity share (Face value oft 10 each) 1. Basic (t) 1.54 2.75 0.91 4.29 3.46 7.28 2. Diluted (t) 1.54 2.75 0.91 4.29 3.46 7.28 (Not annualised except for the year ended March 31, 2026) Nuvoco Vistas Corp. Ltd. Registered Office: Equinox Business Park, Tower-3, East Wing, 4th Floor, Off. Sandra Kurla Complex, LBS Road, Kurla (West), Mumbai 400070 Tel: +91 (0) 22 67692500 / +91 (0) 22 67692525 I Fax: +91 (0) 22 67692572 I Website: www.nuvoco.com I CIN-L26940MH1999PLC118229 C ~~
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NUVOCO VISTAS CORP. LTD. Notes to Unaudited Standa lone Financial Results: 1. Standalone Balance Sheet as at September 30, 2026 Particulars ASSETS NON-CURRENT ASSETS (a) Property, plant and equipment (b) Capital work-in-progre ss (c) Investment property (d) Goodwill (e) Other intangible assets (f) Right of use assets • (g) Intangible assets under development (h) Financial assets (i) Investments (ii) Loans (iii) Other non-current financial assets ( i) Income tax assets (net) G) , Other non-current assets CURRENT ASSETS (a) Inventories (b) Financia l assets (i) Trade receivables (ii) Cash and cash equ ivalents (iii) Bank balances other than cash and cash equivalents (iv) Loans (v) Other current financial assets (c) Other curr ent assets TOTAL ASSETS EQUITY AND LIABILITIES EQUITY (a) Equity share capital (b) Other equity LIABILITIES NON-CURRENT LIABILITIES (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Other non-current financial liabilities (b) Provisions (c) Deferred tax liabilities (net) (d) Other non-current liabilities CURRENT LIABILITIES (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payabl es - Total outstanding dues of micro enterpris es and small enterprises - Total outst anding dues of creditors other than micro enterprises and small enterprises (iv) Other current financial liabilities (b) Other current liabilities rt·.· ~010; .. e,h ,( (c) Provisions • ,<,,<:!:-,,..,-~--,i/o. . '<>\as C .:::;, , o ~ --::;' 0 :i!r ·· )<;:- IQ.--1 o~~~ '; TOTAL EQUITY ANDLIABIL ff.f,E~ MU v,BAI !~ j r / I / ~ {NluN\131'-1 fut) ~ - NUvOCO Shapi ng ~ ne w w orld ~ · Asat September 30, 2026 Unaudited 5,766.40 149.06 0.75 2,443.86 991.90 344.07 - 4,311.71 879.05, 326.50 32.86 52.12 15,298.28 663.80 798.96 152.34 8.43 3.08 475.13 167.25 2,268.99 17,567.27 357.16 9,223.98 9,581.14 2,031.04 162.24 55.97 151.46 1,002.91 25.36 3,428.98 1,502.48 144.86 570.13 833.93 699.51 362.98 443.26 4,557.15 17,567.27 (< in crore) As at March 31, 2026 ., Audited 5,920.33 91.75 0.78 2,443.86 1,013.04 347.61 - 4,311.71 723.15 319.38 104.75 32.84 15,309.20 537.59 814.85 74.13 5.18 4.49 478.42 134.93 2,049.59 17,358.79 357.16 9,073.91 9,431.07 2,361.15 179.99 55.97 143.85 1,035.73 26.32 3,803.01 1,221.80 128.96 418.13 833.59 654.54 415.33 452.36 4,124.71 17,358.79 \\c.:]; \ I<:>/ \j V I 7\ /U ~ /' Nuvoco Vistas Corp. Ltd'. ~-P,,.\, . _,,,,~f;/ . '%, "---..,./ • Registered Office: Equinox Busines-s~~~~.2 , East Wing, 4th r, Off..~ a a Kurla Complex, LBS Road, Kurla (West), Mumbai 400070 Tel: +91 (0) 22 67692500 / +91 (0) 22-@:J.@92525 I Fax. +91 (0) 22 6, v=i I Website. www.nuvoco.com I CIN-L26940MH1999PLC118229
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NUVOCO VISTAS CORP. LTD. ~ - NUvOCO Shaping o. new world Notes to Unaudited Standalone Financial Results: ~ 2. Standalone Statement of Cash Flows for the six months ended September 30, 2026 (fin crore) Six months pei:iod Six months period Particulars ended ended September 30, 2026_ September 30, 2025 Unaudited Unaudited (A) CASH FLOW FROM OPERA TING ACTIVITIES Profit before tax 245.32 180.43 Adjustments for: Depreciation and amortisation expense 337.70 315.29 Unrealised loss on foreign currency translation (net) 0.61 1.95 Allowance for bad/ doubtful debts and advances 3.40 0.76 Provision/liabilities no longer requir ,ed, written back (33.14) (10.66) Net gain on sale/ disposal of property, plant & equipment' and termination of lease (0.81) (0.97) Gain on sale of current investments (net) (0.18) (8.90) Fair value gain on financial instruments at fair value through profit or loss - (0.02) Bad debts written off (net of provision written back) " 0.03 ·• - Provision/ (Reversal of provision) for slow and non-moving stores and spares 1.91 (0.12) Interest income on bank deposits (0.64) (0.69) Interest inoome on others (48.85) · (45.85) Finance costs 185.22 197.31 Operating profit before working capital adjustments 690.54 628.56 Adjustments for working capital : Increase in inventories (128.12) (86.80) Decrease/ (Increase) in trade and other receivables 12.54 (10.58) Increase in advances and other non-current/ current assets (53.92) (18.99) Increase/ (Decrease) in trade and other payables, provisions and other non-current/ current liabilities 137.13 (14.49) 658.17 497.70 Income tax (paid)/ refund (net) (51.10) 3.81 NET CASH FLOW GENERATED FROM OPERATING ACTIVITIES 607.07 501.51 (B) CASH FLOW FROM INVESTING ACTIVITIES Payment for purchase/ construction of property, plant and equipment, capital work-in-progress, other (127.56) (88.64) intangible assets and intangible assets under development Investment in subsidiaries - (600.00) Purchase of non-current investments in other companies 0.00 - Purchase of current investments (849.95) (6,694.61) Proceeds from sale of current investments 850.13 6,703.53 Loans and advances given (net) (106.23) (1,232.86) Interest received 2.07 1.76 NET CASH FLOW USED IN INVESTING ACTIVITIES (231.54) (1,910.82) (C) CASH FLOW FROM FINANCING ACTIVITIES Repayment of non-current borrowings (177.23) (775.38) Proceeds from non-current borrowings 90.00 1,240.00 Proceeds from current borrowings (net) 74.92 1,290.68 Repayment of lease liabilities (including interest) (101.63) (86.58) Finance costs paid (183.38) (207.59) NET CASH FLOW (USED IN)/GENERATED FROM FINANCING ACTIVITIES (297.32) 1,461.13 Net Increase in cash and cash equivalents (A+B+C) 78.21 51.82 Cash and cash equivalents at the beginning of the period 74.13 157.19 Cash and cash equivalents at the end of the period 152.34 209.01 Nuvoco Vistas Corp. Ltd. Registered Office: Equinox Business Park, Tower-3, East Wing, 4th Floor, Off. Bandra Kurla Complex, LBS Road, Kurla (West), Mumbai 400070 Tel: +91 (0) 22 67692500 / +91 (0) 22 676925251 Fax: +91 (0) 22 67692572 I Website: www.nuvoco.com I CIN-L26940MH1999PLC118229 @, ,A~
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NUVOCO VISTAS CORP. LTD. ~ -N Uv OCO Shaping Q new world ~ Notes to Unaudited Standalone Financial Results: 3. Additional disclosures as per Regulation 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulatio ns, 2015: Srno. (a)_ (b) (c) (d) (e) (f) (g) (h) (i) 0) (k) (1) (m) (n) (o) (p) (q) Particulars Net worth (t cro res) Debenture redemption reserve (Z crores) Securities premium (t crores) Profit after tax (t crores) Basic earnings per share/ Diluted earnings per share (in Z) (Not annualised except for March 31, 2026) Debt/Equity ratio (limes) [Total debt /Eq uity] Long term debt/Working capital (times) [(Non-current borrowings+ Current maturities of non-current borrowings) / (Net working capital excluding current maturities of non-current borrowings)] Total debts to Total assets(%) [(Non-current borrowings+ Current borrowing s)/To tal assets] ' Debt service coverage ratio (times)' [(Profit after tax+ Finance costs+ Depreciation and amortisation expense+ Non-cash operating expenses )/ (Finance costs paid+ Lease payments+ Repayment of non-current borrowings)] Interest service coverage ratio (times)' [(Profit after tax+ Finance costs+ Depreciation and amortisation expense+ Non-cash operating expenses )/Finance costs paid] Curren t ratio (times) [Current assets/Current liabilities excluding current maturities of non-current borrowings) Bad debts to Account receivable ratio(%) [Bad debts/ Average trade receivab les] Current liability ratio(%) [Current liabilities excluding current maturities of non-current borrowings/Total liabilities] Debtors turnover ratio (times) [Sale of Products/ Average trade receivable] - trailing 12 montl1s Inventory turnover ratio (times) [Sale of Products/ Average inventory] - trailing 12 months Operating margin(%)* [(Profit before depreciation & amortisation expense and tax+ Finance costs(-) Other income)/Sale of Products] Net Profit margin( %) [Profit after tax/Sale of Products] # Exclud111g excep1Io11al 1te111 and related tax for year ended Marci, 31, 2026 • Exc/11di11g exceptional item for year ended March 31, 2026 Nuvoco Vistas Corp. Ltd. Three months ended September June 30,2026 30,2026 Unaudited Unaudited 9,581.14 9,527.36 12.01 12.01 5,618.16 5,618.16 54.99 98.38 1.54 2.75 0.37 0.38 (1.72) (1.59) 20.11% 20.21% 1.12 1.84 2.36 6.52 0.59 0.55 - - 48.27% 48.21% 11.20 9.75 16.14 15.02 13.27% 14.79% 2.24% 3.75% Six months ended Year Ended September September Sep tember March 30, 2025 30, 2026 30, 2025 31,2026 Unaudited Unaudited Unaudited Audited 9,296.16 9,581.14 9,296.16 9,431.07 12.01 12.01 12.01 12.01 5,618.16 5,618.16 5,618.16 5,618.16 32.53 153.37 123.73 260.12 0.91 4.29 3.46 7.28 0.46 0.37 0.46 0.38 (3.17) (1.72) (3.17) (1.81) ' ., 24.06% 20.11% 24.06% 20.64% 0.48 1.40 0.71 1.06 2.21 3.54 3.02 3.90 0.78 0.59 0.78 0.56 0.00% - 0.00% 0.00% 49.45% 48.27% 49.45% 45.76% 10.30 11.20 10.30 10.49 13.50 16.14 13.50 18.22 13.38% 14.05% 14.21% 14.11% 1.55% 3.02% 2.78% 2.72% Registered Office: Equinox Business Park, Tower-3, East Wing, 4th Floor, Off. Bandra Kurla Complex, LBS Road, Kurla (West), Mumbai 400070 Tel: +91 (0) 22 67692500 I +91 (0) 22 67692525 I Fax: +91 (0) 22 67692572 I Website: www.nuvoco.com I CIN-L26940MH1999PLC118229 ~ ~ '3-
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NUVOCO VISTAS CORP. LTD. N~ o· Shaping (;I. new world ~ Notes to Unaudited Standalone Financial Results: 4 These unaudited Standalone Financial Results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at its respective meetings held on October 22, 2026. The stah1t01y auditors of the Company have carried out limited review of the aforesaid results. 5 (a) The above results has been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 'Interim Financial Reporting', prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules thereunder and in terms of Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended. (b) The Company has disclosed the segment information in the unaudited consolidated financial results in accordance with Ind AS 108 - 'Operating Segments'. 6 In August 2016, the Competition Commission of India (CCI) passed an Order levying a penalty of , 490.00 crores on the Company in connection with a complaint filed by the Builders Association of India against leading cement companies (including the Company) for alleged violation of certain provisions of the Competition Act, 2002. The Company had filed an appeal against the Order before the Competition Appellate Tribunal (COMPAT). The COMPAT had passed an interim order directing the Company to pre-deposit 10% of the penalty amount. COMPAT was replaced by the National Company Law Appellate Tribunal (NCLAT) effective May 26, 2017, and NCLAT vide its judgment dated July 25, 2018, dismissed the Company's appeal. Against the above judgment of NCLAT, an appeal is filed before the Ho;·t'ble Supreme Court, and vide its ~rder dated October 5, 2018, the Hon'ble Supreme Court admitted the appeal of the Company ~d directed continuation of the • interim order as originally passed by the COMPAT. TI1e appeal is st:i.11 pending. The Company under the Share Purchase Agreement ("SPA") is indemnified by erstwhile promoter group for any liability arising out of CCI order. However, the erstwhile promoter had disputed their obligation towards indemnification of any amount including interest beyond the cap of , 490!00 crores. ,, Based on the reimbursable rights available with the Company duly backed by legal opinion, no provision against the CCI order of, 490.00 crores or interest thereon is considered necessa1y. 7 The Company availed Industrial Promotional Assistance for Mejia Cement Plant (MCP) from the Government of West Bengal under the West Bengal Incentive Scheme 2004 with effect from April 23, 2008. The authorities disputed the claim of the Company, pursuant to which, the Company had filed a writ petition against the Industry, Commerce & Enterprise Department, Government of West Bengal during the year 2017-18 in the Hort'ble High Court of Calcutta (High Court). The matter is sub judice before the High Court. The Company on a conservative basis discontinued the accrual of such incentives in the books from April 1, 2019, on account of ongoing litigation. The Company carried provision of , 238.22 crores as on March 31, 2025 determined on the basis of Expected Credit Loss methodology as per Ind AS 109 "Financial Instruments". The West Bengal Government vide notification dated April 2, 2025 enacted the Revocation of West Bengal Incentive Schemes and Obligations in the Nature of Grants and Incentives Act, 2025 (Revocation Act) which retrospectively withd _raws, rescinds, revokes, and discontinues all the incentive schemes which were introduced during the period 1993 to 2021. The Company has been advised by the legal counsel that enactment of the Revocation Act is ulh·a vires and unconstitutional. Accordingly, a writ petition has been filed by the Company on June 16, 2025 before the Hon'ble High Court of Calcutta- challenging the constitutional validity of the Revocation Act, which is pending. During the quarter and year ended March 31, 2026, considering the uncertainty about timing of the recovery of incentive amount in view of the aforesaid developments, the Company on a conservative basis had reassessed and recognized additional provision amounting to , 18.62 crores determined on the basis of Expected Credit Loss methodology as per Ind AS 109 "Financial Instruments". The same was disclosed under "Exceptional item" in the financial results. The gross outstanding claim balance as on September 30, 2026 is , 427.14 crores. The Company carries provision for expected credit loss of, 256.84 crores as on September 30, 2026. The Company, based on advice of legal counsel, is confident of the ultimate recovery of the balance accrued till date. 8 In order to simplify the Company's subsidiary structure, the respective Boai·d of Directors of the Company and Algebra Endeavour Private Limited (" AEPL"), a wholly owned subsidiary of the Company, have approved the voluntary liquidation of AEPL pursuant to Section 59 of the Insolvency and Bankruptcy Code, 2016 ("IBC"). Upon completion of the voluntary liquidation process, Vadraj Energy (Gujarat) Limited ("VEGL"), currently a step-down subsidia1y of the Company, will become a direct wholly owned subsidiary of the Company. For and on behalf of Board of Directors Mumbai Date: October 22, 2026 DIN: 02099219 Nuvoco Vistas Corp. Ltd. Registered Office: Equinox Business Park, Tower-3, East Wing, 4th Floor, Off. Bandra Kurla Complex, LBS Road, Kurla (West), Mumbai 400070 Tel: +91 (0) 22 67692500 / +91 (0) 22 67692525 I Fax: +91 (0) 22 67692572 I Website: www.nuvoco.com I CIN-L26940MH1999PLC118229 ~ .,).~