Interim report
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Registered Office: Pl Industries Limited Udaisagar Road, Udaipur - 313001, Rajasthan, India. Tel.: 0294 6651100, 2492451 – 55 I CIN: L24211RJ1946PLC000469 info@piind.com www.piindustries.com PIIL:SEC: NSE/BSE:35/2026-27 August 11, 2026 BSE Limited Corporate Relationship Department. PJ Towers, 25th Floor, Dalal Street, Mumbai – 400 001 Code No. 523642 National Stock Exchange of India Ltd. Exchange Plaza, Plot No. C/1, G- Block Bandra Kurla Complex, Bandra (East), Mumbai – 400 051 Code No. PIIND Dear Sir/Madam, Sub: Outcome of Board Meeting In compliance with Regulation 30 read with Part A of Schedule Ill of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we hereby inform you that the Board of Directors ( “the Board”) of the Company at its meeting held to day i.e., August 11, 2026, has inter- alia, considered and approved the following: i. The unaudited standalone & consolidated financial results of the Company for the quarter ended June 30, 2026 pursuant to Regulation 33 of the SEBI Listing Regulations. A cop y of the same along with limited review report by the Statutory Auditors are enclosed herewith as Annexure A. ii. Incorporation of a company under Section 8 of the Companies Act, 2013 and rules made thereunder (‘the Act’), in the name and style ‘PI Foundation’ or such other name , subject to availability and approval by the Registrar of Companies as a Wholly Owned Subsidiary of the Company (direct or indirect) . Information as required under Regulation 30 - Part A of Schedule Ill of the SEBI Listing Regulations, is enclosed as Annexure B. T he meeting of the Board commenced at 02:00 p.m. (IST) and concluded at 06:30 p.m. (IST). We request you to kindly take the above on record. Thanking you, Yours faithfully, For PI Industries Limited Shruti Joshi Company Secretary & Compliance Officer Encl.: As above
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Pl Industries Ltd. STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2026 IS.No Particulars I Revenue from operations II Other Income Ill Total Income (1+11) IV Expenses Cost of materials consumed Purchases of stock -in- trade Changes in inventories of finished goods, work in progress and stock-in-trade Employee benefit expense Finance cost Depreciation and amortisation expense Net impairment losses on financial assets Other expense Total Expenses V Profit before exceptional Item and tax (Ill-IV) VI Exceptional item gainl(loss) (Refer note 5) VII Profit after exceptional but before tax (V+VI) VIII Income tax expense Current tax Deferred tax Income tax of earlier years Total Tax Expense IX Profit for the period/year (VII-VIII) X Other Comprehensive Income after tax (OCI) A Items that will not be reclassified to profit or loss Remeasurements gain/(loss) on defined benefits plans Income tax relating to the above item B Items that will be reclassified to profit or loss Effective portion of gain/(loss) on cash flow hedges Income tax relating lo above items Total Other Comprehensive lncome/(loss) for the period/year XI Total Comprehensive Income for the period/year (IX+X) XII Paid-up equity share capital (Face value of i 1/- each (Previous Year i 1/- each)) XIII Other Equity excluding Revaluation Reserves as per Balance sheet XIV Earning per Share" (Inf) (a) Basic (b) Diluted See accomcanv ino notes to the financial results • Refer Nole 3 " Actuals for the Quarter, not annualised 30.06.2026 Unaudited 15,989 608 16,597 6,285 295 440 1,754 23 803 36 2,591 12,227 4,370 4,370 719 236 955 3,415 14 (5) 572 (200) 381 3,796 152 22.50 22.50 Quarter ended 31.03.2026 Audited' 13,914 711 14,625 6,202 63 (380) 1,567 20 847 55 2,555 10,929 3,696 (1,117) 2,579 649 (48) 601 1,978 (21) 7 (1,257) 440 (831) 1,147 152 13.04 ,13.03 30.06.2025 Unaudited 17,691 800 18,491 7,066 284 168 1,647 16 706 81 2,708 12,676 5,815 5,815 1,020 273 (121) 1,172 4,643 8 (3) 80 (28) 57 4,700 152 30.61 30.60 (In, MIiiion) Year ended 31.03.2026 Audited 61,827 3,077 64,904 27,888 1,044 (2,830) 6,238 74 3,046 246 9,886 45,592 19,312 (1,323) 17,989 3,383 367 (109) 3,641 14,348 56 (20) (2,228) 779 (1,413) 12,935 152 1,13,539 94.57 94.56 Annexure - A
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Pl Industries Ltd. Notes The above financial results were reviewed and recommended by the Audit Committee of the Company and approved by the Board of Directors at their meeting held on August 11, 2026. 2 The financial results for all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time. 3 The figures for the quarter ended March 31, 2026 are the balancing figures between audited figures in respect of full financial year March 31, 2026 and the published unaudited year to date figures for the nine months period ended December 31, 2025. 4 The Company is in the business of manufacturing and distribution of Agro Chemicals and accordingly has one reportable business segment viz. 'Agro Chemicals'. 5 a) The carrying value of the Company's equity investment in PIHS had been reassessed as at March 31, 2026. There is no change in the underlying business strategy, however in view of the business losses and based on a valuation carried out by an independent valuer, the Company had recognised a provision of Rs 1,100 Mn in the quarter and year ended March 31, 2026. This was disclosed as an "Exceptional Item" in the financial results . The management remains confident about the long-term business prospects of PIHS. b) Pursuant to the notification of the 'New Labour Codes' as issued in November 2025. The Company reassessed its employee benefit obligations in accordance with the revised definition of wages and accordingly, an incremental liability of, 223 Mn had been disclosed as an "Exceptional Item" during the year ended March 31, 2026. Place: Mumbai Date: August 11, 2026 Regd. Office: Udaisagar Road, Udaipur - 313001 (Raj) Phone: 0294 2492451-55 Fax: 0294 2491946 CIN:L24211RJ1946PLC000469 For Pl Industries Limited Mayank Singhal Vice Chairperson & Managing Director DIN: 00006651
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Price Waterhouse Chartered Accountants LLP To The Board of Directors PI Industrie s Limited Unit No. 3A, 1st Floor Wing A Next to JW Marriot Hotel Sahar Andheri East, Mumbai - 400099 Maharashtra, India Review Report 1. We have reviewed the Standalone Unaudited Financial Results of PI Industries Limited (the "Company") for the quarter ended June 30, 2026 which are included in the accompanying 'Statement of Standalone Unaudited Financial Results for the qua1ter ended 30th June 2026' (the "Statement"). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirement s) Regulations, 2015, as amended (the "Listing Regulations, 2015"), which has been initialled by us for identification purposes. The Statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review. 2. 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 Cha1tered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. 3. A review is limited primarily to inquiri es of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepar ed in all material respects in accordance with the applicable Accounting Standards prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. aterhouse Chartered Accountants LLP ration Number: 012754N/N500016 r Agrawal Partner Membership Number: 099903 UDIN:26099903EAGXYL9800 Place: Mumbai Date: August 11, 2026 Price Waterhouse Chartered Accountants LLP, Building No. 8, 8th Floor, Tower - B, DLF Cyber City, Gurugram - 122 002 T: +91 (124) 6169910 Registered office and Head office: 11 ·A, Vishnu Oigamber Marg, Sucheta Bhawan, New Delhi - 110002 Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accou ntan ts LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-5001) with ettect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is 012754N/N5000t6 (\CAI registration number before conversion was 012754N) •
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Pl Industries Ltd. STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2026 I (In f Million) Quarter ended Year ended S.No Particu lars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 Unaudited Audited .. Unaudited Audited I Revenue from operations 17,023 15,652 19,005 67,137 II Other Income 641 756 859 3,107 Ill Tota l Income (1+11) 17,664 16,408 19,864 70,244 IV Expenses Cost of materials Consumed 6,819 6,690 7,574 29,900 Purchases of stock-in-trade 423 161 338 1,680 Changes in inventories of finished goods, work in progress 123 (252) 179 (3,247) and stock-in-trade Employee benefit expense 2,608 2,268 2,323 9,077 Finance cost 79 37 39 164 Depreciation and amortisation expense 1,037 1,067 965 4,066 Net impairment losses on financial assets 52 83 85 326 Other expense 3,324 3,333 3,315 12,405 Tota l Expenses 14,465 13,387 14,818 54,371 V Share of Profit of associate and Joint venture 19 4 28 57 VI Profit before exceptional items and tax (111-IV+V) 3,218 3,025 5,074 15,930 VII Exceptional items gain/(loss) (Refer note 5) - (20) - 1,031 VIII Profit after exceptional but before tax (Vl+VII) 3,218 3,005 5,074 16,961 IX Income tax expense Current tax 730 647 1,039 3,459 Deferred tax 46 356 156 401 Income tax of earlier years - - (121) (107) Total Tax Expense 776 1,003 1,074 3,753 X Profit for the period/ year (VIII - IX) 2,442 2,002 4,000 13,208 XI Other Comprehensive Income after tax (OCI) A Item that will not be reclassified to profit or loss Remeasurements gain/(loss) on defined benefits plans 9 (20) 9 67 Income tax relating to the above item (5) 7 (2) (22) B Item that will be reclassified to profit or loss Effective portion of gain/(loss) on cash flow hedges 571 (1,257) 77 (2,229) Income tax relating to above item (200) 440 (27) 780 Exchange difference on translation of foreign operations (55) 424 376 1,200 Total Other Comprehensive lncome/( loss) for the 320 (406) 433 (204) period/ year XII Tota l Comprehens ive Income for the period/ year 2,762 1,596 4,433 13,004 (X+XI) XIII Paid-up equity share capita l (Face value oft 1/- each (Previous Year t 1/- each)) 152 152 152 152 XIV Other Equity excluding Revaluation Reserves as per 1,12,153 Balance sheet xv Earning per Share• (in ,, (a) Basic 16.10 13.20 26.37 87.06 (b) Diluted 16.10 13.20 26.36 87.06 See accompanying notes to the financial results - • Actuals for the quarter, not annualised t g \)Sllj>®' A " Refer Note 4 ~ dt)· ~ ~ -~) ,, .. ro · 1., 1, ' • ~~ f ,, "l ? * -
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Pl Industries Ltd. Notes: The above Consolidated financial results were reviewed and recommended by the Audit Committee of the Company and approved by the Board of Directors at their meeting held on August 11, 2026. 2 The Consolidated financial results for all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time. 3 The Consolidated financial results include the results of the following entities namely, Parent Company - Pl Industries Limited; Subsidiaries (including step down subsidiaries): (a) Pl Health Sciences Limited (b) Pl Health Sciences USA, LLC (c) Pl Health Sciences Netherlands BV (d) Archimica S.p.A Italy (e) Pl AgSciences Limited (Formerly known as Plant Health Care limited) (f) Pl AgSciences, Inc. (Formerly known as Plant Health Care, Inc, Nevada) (g) Pl AgSciencies, S. de R.L. de C.V. (Formerly known as Plant Health Care de Mexico S. de R.L. de C.V.) (h) Pl AgSciences (UK) Limited (Formerly known as Plant Health Care (UK) Limited) (i) Pl AgSciences Spain, S.A (Formerly known as Plant Health Care Espana) (j) Pl AgSciences Brasil Ltda (Formerly know as Plant Health Care lnsumos Agricolas L TOA) (k) Jivagro Limited (I) Pl Life Science Research Limited (m) Pl Flowtech B.V. (n) Pl Industries Management Consultancies LLC Dubai (o) Pl lnnoventures Limited (Formerly known as PILL Finance and Investments Limited) (p) Pl Japan Co. Limited (q) Pl Bioferma Private Limited (r) Pl Fermachem Private Limited ;Controlled trust - PII ESOP Trust; Joint Venture - Pl Kumiai Private Limited ; Associate - Solinnos Agro Sciences Private Limited. 4 The figures for the quarter ended March 31, 2026 are the balancing figures between audited figures in respect of full financial year and the published unaudited year to date figures for the nine month period ended December 31, 2025. 5 a) In April 2023, Pl Health Sciences Limited (PIHS), a wholly owned subsidiary of the Company acquired 100% equity of Solis Pharmachem Private Limited and Therachem Research Medilab (India) Private Limited and specific assets of Therachem Research Medilab LLC, USA. The purchase consideration for the above included contingent consideration to be paid over a period of 6 years subject to achievement of specified business performance and to support for business development activities . Considering the performance of the acquired business since the acquisition, and the successful establishment of an experienced in-house global business development team, no longer requiring external business development support, the Company renegotiated a mutually beneficial one-time settlement payment with erstwhile owners. This settlement resulted in a write-back of the contingent consideration of f 1,260 Mn, which was presented under "Exceptional Items" during the year ended March 31, 2026. b) Pursuant to the notification of the 'New Labour Codes' as issued in November 2025, the Group reassessed its employee benefit obligations in accordance with the revised definition of wages and accordingly, an incremental liability off 229 Mn had been disclosed as an "Exceptional Item" during the year ended March 31, 2026. 6 Segment information as per Ind AS 108 "Operating Segments" is as per Annexure I. Place: Mumbai Date: August 11, 2026 Regd. Office: Udaisagar Road, Udaipur - 313001 (Raj) Phone: 0294 2492451-55 Fax: 0294 2491946 CIN: L24211 RJ1946PLC000469 For Pl Industries Limited Mayank Sin hal Vice Chairperson & Managing Director DIN: 00006651
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S.Nc Pl Industries Ltd.· Annexure I Statement of Unaudited Consolidated Segment-Wise Revenue, Results, Assets, Liabilities and Capital Employed for the Quarter ended 30 June 2026 (In f Million) Quarter Ended Year ended Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 Unaudited Audited Unaudited Audited 1 Segment Revenue 64,168 a. Agro chemicals 16,488 14,612 18,287 b. Pharma 542 1,048 723 3,005 Total 17,030 15,660 19,010 67,173 Less : Inter Segment Revenue 7 8 5 36 Segment Revenue 17,023 15,652 19,005 67,137 2 Segment Results Profit/(Loss) before tax a. Agro chemicals 3,835 3,325 5,656 17,975 b. Pharma (816) (486) (760) (2,744) Add: Inter segment adjustment 199 186 178 699 Profit before exceptional items and tax 3,218 3,025 5,074 15,930 Exceptional items gain/(loss) - (20) - 1,031 Profit before Tax 3,218 3,005 5,074 16,961 3 Segment Assets a. Agro chemicals 1,24,549 1,19,736 1,13,301 1,19,736 b. Pharma 14,561 14,701 14,333 14,701 Segment Assets 1,39,110 1,34,437 1,27,634 1,34,437 4 Segment Liabilities a. Agro chemicals 20,696 18,115 17,272 18,115 b. Pharma 3,731 4,017 4,359 4,017 Segment Liabilities 24,427 22,132 21,631 22,132 5 Capital Employed (Segment Assets-Segment Liabilities) a. Agro chemicals 1,03,853 1,01,621 96,029 1,01 ,621 b. Pharma 10,830 10,684 9,974 10,684 Capital Employed 1,14,683 1,12,305 1,06,003 1,12,305 Notes: The business of the Group is divided into two segments as below: a) Agro chemicals Agro chemicals includes Agchem exports (CSM), Domestic Agri Brands and Biologicals. b) Pharma Pharma comprises Contract Research & Development, Contract Development and Manufacturing of Active, key starting materials and intermediates used in pharmaceutical industry.
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Price Waterhouse Chartered Accountants LLP Review Report To The Board of Directors PI Industries Limited Unit No. 3A, 1st Floor Wing A Next to JW Marriot Hotel Sahar Andheri East, Mumbai - 400099 Maharashtra, India 1. We have reviewed the Consolidated Unaudited Financial Results of PI Industries Limited (the "Holding Company"), its subsidiaries (the Holding Company and its subsidiaries) hereinafter referred to as the "Group"), controlled trust and its share of the net profit after tax and total comprehens ive income of its joint venture and associate company (refer paragraph 4 below) for the quarter ended June 30, 2026 which are included in the accompanying 'Statemen t of Consolidated Unaudited Financial Results for the qua1ter ended 30th June 2026' (the "Statement"). The Statement is being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations, 2015"), which has been initialled by us for identification purposes. 2. This Statement, which is the responsibility of the Holding Company's Management and has been approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting", prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements ('SRE') 2410 "Review of Interim Financial Information Pe1formed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants oflndia. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing 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 SEEi under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. Price Waterhouse Chartered Accountants LLP, Building No. 8, 8th Floor, Tower - B, DLF Cyber City, Gurugram - 122 002 T: +91 (124) 6169910 Registered office and Head office: 11-A, Vishnu Digamber Marg, Sucheta Bhawan, New Deihl - 110002 Price Waterhouse (a Partnersh ip Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its !CAI registration number is 012754N/N5000 16 (!CAI registration number before conversion was 012754N)
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4. The Statement includes the results of the following entities: namely, Holding Company- PI Industries Limited; Subsidiaries (including step-down subsidiaries): (a) PI Health Sciences Limited (b) PI Health Sciences USA, LLC (c) PI Health Sciences Netherlands BV (d) Archimica S.p.A Italy (e) PI Industries Management Consultancies L.L.C Dubai (f) PI AgSciences Limited (Formerly known as Plant Health Care Limited) (g) PI AgSciences, Inc. (Formerly known as Plant Health Care, Inc Nevada) (h) PI AgSciences, S. de R.L. de C.V. (Formerly known as Plant Health Care de Mexico S. de R.L. de C.V.) (i) PI AgSciences (UK) Limited (Formerly known as Plant Health Care (UK) Limited) G) PI AgSciences Spain, S.A (Formerly known as Plant Health Care Espana) (k) PI AgSciences Brasil LTDA (Formerly known as Plant Health Care Insumos Agricolas LTDA) 0) Jivagro Limited (m) PI Life Science Research Limited (n) PI Flowtech B.V. (o) PI Innoventures Limited (Formerly known as PILL Finance and Investments Limited) (p) PI Japan Co. Limited (q) PI Bioferma Private Limited (r) PI Fermachem Private Limited; Controlled trust - PI ESOP Trust; Joint Venture - PI Kumiai Private Limited; Associate - Solinnos Agro Sciences Private Limited. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 and 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The interim consolidated financial results of two subsidiaries (including four step down subsidiaries, one associate and one joint venture) and one step down subsidiary (including fmther five step down subsidiaries) reflect total revenues of Rs. 873 Mn, total net loss after tax of Rs. 3,228 Mn and total comprehensive loss of Rs. 3,259 Mn, for the quarter ended June 30, 2026, as considered in the consolidated unaudited financial results (before considering the impact of consolidation adjustments). These interim consolidated financial results have been reviewed by other auditors and their reports, vide which they have issued an unmodified conclusion, have been furnished to us by the Management or other auditors and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based on the reports of the other auditors and the procedures pedormed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matter. 7. The interim financial results of two subsidiaries and one controlled trust reflect total revenues of Rs. 422 Mn, total net loss after tax of Rs. 42 Mn and total comprehensive loss of Rs. 42 Mn, for the qua1ter ended June 30, 2026, as considered in the consolidated unaudited financial results. These interim financial results have been reviewed by other auditors and their repotts, vide which they have issued an unmodified conclusion, have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and controlled trust, is based on the repo1ts of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matter. 8. The Consolidated Unaudited Financial Results include the interim financial results of four subsidiaries which have not been reviewed by their auditors, whose interim financial results before considering the
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impact of consolidation adjustments, reflect total revenue of Rs. 55 Mn, total net loss after tax of Rs. 4 Mn and total comprehensive loss of Rs. 19 Mn for the qua1ter ended June 30, 2026, as considered in the Consolidated Unaudited Financial Results. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group. Our conclusion on the Statement is not modified in respect of the above matter. For Price Waterhouse Chartered Accountants LLP Firm Re istration Number: 012754N/N500016 r i Agrawal Pa1tner Membership Number: 099903 UDIN: 26099903TUNLHC5243 Place: Mumbai Date: August 11, 2026
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Registered Office: Pl Industries Limited Udaisagar Road, Udaipur - 313001, Rajasthan, India. Tel.: 0294 6651100, 2492451 – 55 I CIN: L24211RJ1946PLC000469 info@piind.com www.piindustries.com Annexure B Information as required under Regulation 30 - Part A of Schedule Ill of the SEBI Listing Regulations – Incorporation of a Company under Section 8 of the Act S. No. Particulars Details 1. Name of the entity, date & country of incorporation, etc Name of the entity: PI Foundation or such other name as may be approved by the Registrar of Companies. Date of incorporation: Entity is proposed to be incorporated Country of incorporation: India 2. Name of holding company of the incorporated company and relation with the listed entity PI Industries Limited ( ‘the Company ’ or ‘PIIL’) and its subsidiaries shall hold the entire share capital of PI Foundation. Therefore, PI Foundation shall be a wholly owned subsidiary of the Company (direct or indirect). 3. Industry to which the entity being incorporated belongs PI Foundation is proposed to be established as a not-for-profit organisation under section 8 of the Act. 4. Brief background about the entity incorporated in terms of products / line of business PI Foundation is proposed to be incorporated under Section 8 of the Act, for carrying out Corporate Social Responsibility activities in accordance with Section 135 read with Schedule VII of the Act. 5. Brief details of any governmental or regulatory approvals required for the incorporation PI Foundation is proposed to be incorporated and registered with the Registrar of Companies, Jaipur, Ministry of Corporate Affairs, under section 8 of the Act. 6. Nature of consideration - whether cash consideration or share swap and details of the same Initial share capital subscription in Cash. 7. Cost of subscription / price at which the shares are subscribed The initial share capital subscription of an amount of Rs. 1,00,000/- 8. Percentage of shareholding / control by the listed entity and / or number of shares allotted The Company shall hold 100% shareholding (direct or indirect) of PI Foundation.