Duncan Engineering Limited — Interim / Quarterly Report 2026

May 16, 2026

DUNCAN

Ref: DEL/SEC/2026/05/02

Date: May 16, 2026

To

Department of Corporate Services/Listing

BSE Limited

Phiroze Jeejeebhoy Towers

Dalal Street, Fort

Mumbai – 400 001

BSE Scrip Code: 504908

Dear Sir/ Madam,

Sub: Outcome of Board Meeting

Ref.: Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations") read with Schedule III to the Listing Regulations and the relevant SEBI circulars.

I. In terms of Regulations 30 and 33 of the Listing Regulations read with Schedule III to the Listing Regulations and the relevant circular, we would like to inform you that the Board of Directors of the Company in its meeting held today i.e., Saturday, May 16, 2026, inter alia, considered and approved/ recommended the following:

1. The Audited Financial Results including Cash Flow Statement and Assets & Liabilities of the Company for the quarter and financial year ended March 31, 2026.

The Audited Financial Results of the Company along with Audit Report with unmodified opinion(s) in respect of the above Audited Financial Results received from S S Kothari Mehta & Co. LLP, Chartered Accountants, Statutory Auditors of the Company is enclosed as “Annexure-A”.

1. A declaration signed by the Chief Financial Officer of the Company to the effect that Statutory Auditors have submitted their report with unmodified opinion in respect to Financial Results of the Company for the Financial Year 2025-2026. The copy of the same is enclosed as “Annexure-B”

2. Recommended the Final Dividend of Rs. 3.00/- (Three Rupees Only) per equity share of Rs. 10/- each (30%) for the financial year ended March 31, 2026, subject to the approval of the shareholders at the ensuing Annual General Meeting. The dividend, if approved by the shareholders, will be paid within 10 days of its approval by the shareholders at the ensuing Annual General Meeting.

3. Re-Appointment of Mr. Akshit Goenka (DIN: 07131982) as Managing Director of the Company w.e.f. February 09, 2027, for a period of Three (3) Years, as recommended by Nomination & Remuneration Committee subject to the approval of members of the Company.

Duncan Engineering Limited

(Formerly known as Schrader Duncan Limited)

Registered Office & Plant

F-33, Ranjangaon MIDC, Karegaon, Tal. Shirur, Dist. Pune - 412 209. India

Telephone: +91 2138 660-066 Fax: +91 2138 660-067

Email: del@duncanengg.com Web: www.duncanengg.com

CIN: L28991PN1961PLC139151

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DUNCAN

The details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are enclosed as "Annexure C"

1. The Re-appointment of "Pipalia Singhal & Associates" as an Internal Auditor of the Company from the Financial Year 2026–27, to hold office until such time as the Board of Directors may decide to revoke the same.

The Disclosure pursuant to Regulation 30 of Listing Regulations read with SEBI Master circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30 January 2026 is enclosed as "Annexure-D".

II. This disclosure along with the enclosures shall be made available on the website of the Company viz. https://www.duncanengg.com/

The Board meeting commenced at 2:00 P.M. and concluded at 07:18 P.M.

We request you to take the same on record.

Thanking you.

For Duncan Engineering Limited

SHANU
GUPTA
Digitally signed by
SHANU GUPTA
Date: 2026.05.16
19:29:02 +05'30'

Shanu Gupta
Company Secretary & Compliance Officer

Encl.: As above

Duncan Engineering Limited
(Formerly known as Schrader Duncan Limited)
Registered Office & Plant
F-33, Ranjangaon MIDC, Karegaon, Tal. Shirur, Dist. Pune - 412 209. India
Telephone: +91 2138 660-066 Fax: +91 2138 660-067
Email: del@duncanengg.com Web: www.duncanengg.com
CIN: L28991PN1961PLC139151

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DUNCAN

Duncan Engineering Limited

Regd. Office: F-33, Rajangann MIDC, Karegaon, Tal. Skirur, Dist. Pune - 412 220

Website: www.duncanengg.com CIN: L20991PN1961PLC139151

Statement of Audited Financial Results for the Quarter and Year ended March 31' 2026

(Rs. in Lakhs, except per share data)

Sl. No.	Particulars	For the quarter ended			For the year ended
		Mar 31' 2026	Dec 31' 2025	Mar 31' 2025	Mar 31' 2026	Mar 31' 2025
		(Audited) (Note No.6)	(Unaudited)	(Audited) (Note No.6)	(Audited)	(Audited)
I	Income:
	Revenue from operations	2,401.96	1,962.33	2,054.11	8,067.35	8,471.35
	Other income	13.23	56.71	70.85	227.24	259.28
	Total Income (I)	2,495.19	2,019.04	2,132.96	8,294.59	8,730.63
II	Expenses:
	Cost of materials consumed	1,304.56	951.01	1,167.55	4,264.39	4,972.57
	Changes in Inventories of finished goods and work in progress	64.98	17.50	(28.02)	(99.63)	(57.61)
	Employee benefits expense	494.37	511.99	457.16	1,930.30	1,817.47
	Finance costs	12.14	11.11	49.25	37.39	71.82
	Depreciation and amortization expenses	68.53	68.10	68.22	274.33	238.73
	Other expenses	376.68	322.41	280.47	1,234.77	1,012.89
	Total Expenses (II)	2,321.26	1,882.12	1,994.63	7,641.55	8,055.87
III	Profit/(Loss) before tax (I-II)	173.93	136.92	138.33	653.04	674.76
IV	Tax expense
	Current tax	48.25	32.52	23.26	158.82	134.67
	Current tax for Earlier Years	5.77	-	-	5.84	(0.49)
	Deferred Tax (Net)	1.72	1.41	(10.09)	2.37	19.51
	Total Income Tax Expense (IV)	55.74	33.93	13.17	167.03	153.69
V	Profit for the period/year (III-IV)	118.19	102.99	125.16	486.01	521.07
VI	Other Comprehensive Income
	Items that will not be reclassified to Profit or Loss
	Remeasurement Gain/(Loss) on Defined Benefit Plans	11.27	7.42	(1.30)	20.68	2.14
	Deferred Tax on above Item	(2.83)	(1.07)	0.33	(5.20)	(0.54)
	Total Other Comprehensive Income / (Loss) (Net of Tax) (VI)	8.44	5.55	(0.97)	15.48	1.60
VII	Total Comprehensive Income for the period/year (V+VI)	126.63	108.54	124.19	501.49	522.67
	(Comprising Profit / (Loss) and Other Comprehensive Income / (Loss) for the period/year)
VIII	Paid-up Equity Share Capital (Face Value per share of Rs. 10/ each)	369.60	369.60	369.60	369.60	369.60
IX	Other Equity				5,705.84	5,315.22
X	Earnings per equity shares (Face value of Rs. 10/- each):
	a) Basic (Rs.)	3.20*	2.79*	3.39*	13.15	14.10
	b) Diluted (Rs.) (*Not Annualized)	3.20*	2.79*	3.39*	13.15	14.10

Notes:
1. The company's business activity falls within a single primary business segment viz "General Engineering Products".
2. The above financial results are approved by the Board of Directors at meeting held on 16th May, 2026 after being reviewed and recommended by the audit committee. The statutory auditors have issued limited review report with unmodified opinion on the above results.
3. The results of the company have been prepared in accordance with Indian Accounting Standards as prescribed under section 133 of Companies Act, 2013 read with companies (Indian Accounting Standard) Rules, 2015 and relevant amendment rules there after.
4. The Company has incorporated a wholly owned subsidiary Del Arabia in Kingdom of Saudi Arabia (ESA) on 11 December 2025. As at the reporting date, the subsidiary has not commenced operations, and no capital has been infused. Further, the subsidiary did not have any assets, liabilities, income and expenses. Considering the above and having regard to applicable materiality principles, the subsidiary did not contribute to the financial performance or financial position of the Company for the period / year under review. Accordingly, the Company has presented standalone financial statements for the quarter / year ended 31 March 2026.
5. The Board of Directors have recommended a Final Dividend of Rs 3.00 /- (Three Rapses ) per equity share of Rs.10.00/- each ( 30% ) subject to the approval of the shareholders in the ensuing Annual General Meeting.
6. The results for the Quarter ended March 31, 2026 and March 31, 2025, are the balancing figures between audited figures of the full financial year and the published year to date figure up to third quarter of the respective financial years.

By Order of the Board of Directors

(Alkshat Goenka)

Place: Noida

Date: May 16, 2026

Managing Director - DIN: 07131982

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DUNCAN

Duncan Engineering Limited

Regd.Office: F-33,Rajangaon MIDC, Karegaon, Tal. Shirur, Dist. Pune -412 220

Website: www.duncanengg.com CIN: L20991PN1961PLC139151

Statement of Audited Assets & Liabilities as at 31st March 2026

(Rs. in Lakhs)

| | Particulars | As at
Mar 31' 2026 | As at
Mar 31' 2025 |
| --- | --- | --- | --- |
| | | (Audited) | (Audited) |
| I. | ASSETS | | |
| (1) | Non-Current Assets | | |
| | (a) Property, plant and equipment | 1,676.62 | 1,810.81 |
| | (b) Intangible assets | 40.17 | 61.76 |
| | (c) Financial assets | | |
| | (i) Loans | 6.25 | 2.02 |
| | (ii) Other financial assets | 29.87 | 30.75 |
| | (d) Other non current assets | 22.40 | 3.25 |
| | Total Non current assets | 1,775.31 | 1,900.59 |
| (2) | Current assets | | |
| | (a) Inventories | 1,433.54 | 1,409.36 |
| | (b) Financial assets | | |
| | (i) Investments | 2,825.07 | 2,689.54 |
| | (ii) Trade receivables | 1,142.32 | 562.52 |
| | (iii) Cash and cash equivalents | 5.75 | 134.73 |
| | (iv) Bank balances other than (iii) above | 752.98 | 749.61 |
| | (v) Loans | 13.80 | 10.68 |
| | (vi) Other financial assets | 85.61 | 1.15 |
| | (c) Current tax assets (Net) | 9.93 | 22.88 |
| | (d) Other Current Assets | 93.54 | 65.05 |
| | Total Current Assets | 6,362.54 | 5,645.52 |
| | Total Assets | 8,137.85 | 7,554.11 |
| II. | EQUITY AND LIABILITIES | | |
| A. | Equity | | |
| | (a) Equity share capital | 369.60 | 369.60 |
| | (b) Other equity | 5,705.84 | 5,315.22 |
| | Total Equity | 6,075.44 | 5,684.82 |
| B. | Liabilities | | |
| (1) | Non-Current Liabilities | | |
| | (a) Financial liabilities | | |
| | (i) Borrowings | | |
| | (ii) Lease liability | 33.07 | 122.80 |
| | (b) Provisions | 72.99 | 65.28 |
| | (c) Deferred tax liabilities (Net) | 116.74 | 109.17 |
| | Total Non-Current Liabilities | 222.80 | 297.25 |
| (2) | Current Liabilities | | |
| | (a) Financial liabilities | | |
| | (i) Borrowings | 346.45 | 102.97 |
| | (ii) Lease liability | 99.94 | 79.49 |
| | (iii) Trade payable | | |
| | Total outstanding dues of micro enterprises and small enterprises | 506.26 | 412.40 |
| | Total outstanding dues of creditors other than micro enterprises and small enterprises | 299.86 | 232.37 |
| | (iv) Other financial liabilities | 372.61 | 479.88 |
| | (b) Other current liabilities | 145.96 | 216.22 |
| | (c) Provisions | 68.53 | 48.71 |
| | Total Current Liabilities | 1,839.61 | 1,572.04 |
| | Total Equity and Liabilities | 8,137.85 | 7,554.11 |

Place : Noida

Date : May 16, 2026

By Order of the Board of Directors

(Akshat Goenka)

Managing Director, DIN: 07131982

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DUNCAN

Duncan Engineering Limited

Regd.Office: F-33, Rajangaon MIDC, Karegaon, Tal. Shirur, Dist. Pune -412 220

Website: www.duncanengg.com CIN: L20991PN1961PLC139151

Audited Cash Flow Statement for the Year ended March 31' 2026

(Rs. in Lakhs)

S.No.	Particulars	For the Year Ended
		Mar 31' 2026	Mar 31' 2025
		(Audited)	(Audited)
A	A. Cash flow from Operating Activities
	Profit before tax	653.04	674.76
	Adjustments for non-cash and non-operating items :-
	Depreciation and Amortisation expenses	274.33	238.73
	Loss/ (Profit) on sale of Property, Plant & Equipment (Net)	0.32	2.60
	Profit on termination of lease (Net)	(3.70)	-
	Finance costs	37.39	71.82
	Interest income	(50.92)	(53.25)
	Net foreign exchange differences	14.42	(2.12)
	Bad debts written off	-	0.09
	Advances and Debts earlier Written off, now recovered	-	(0.46)
	Provision for doubtful debts written back	(0.05)	(0.75)
	Provision no longer required written back	(28.92)	(12.98)
	Advance Received Written Back	(6.76)	(2.35)
	Loss / (Gain) on redemption / sale of current investments	(16.40)	-
	Effect of changes in fair value of current investments	(119.13)	(187.20)
	Operating profit / (loss) before working capital changes	753.62	728.89
	Adjustments for working Capital changes :-
	Trade and other receivables	(710.62)	238.82
	Inventories	(24.18)	(281.26)
	Trade and other payables	70.66	144.73
	Cash generated from Operations before tax	89.48	831.18
	Less: Direct taxes (paid) / refund received (Net)	(151.71)	(169.00)
	Net cash generated from Operating Activities	(62.23)	662.18
B	Cash flow from Investing Activities
	Purchase of property, plant & equipment including capital work in progress, intangible assets and capital advances	(130.37)	(311.37)
	Sale of property, plant & equipment	-	30.81
	Purchase of Current Investments	(500.00)	(200.00)
	Sale of Current Investments	500.00	-
	Loan Disbursed	500.00	-
	Loan Repayment Received	(500.00)	-
	Changes in other bank balances	(2.91)	(2.12)
	Interest Received	52.13	53.25
	Net cash generated/(used) in investing activities	(81.15)	(429.43)
C	Cash flow from Financing Activities
	Dividend Paid	(110.88)	(129.36)
	Repayment of borrowing - ( Vehicle Loan )	(1.40)	(1.94)
	Borrowing - Current (Net)	244.88	51.41
	Repayment of principal portion of lease liability	(80.81)	(46.30)
	Repayment of interest portion of lease liability	(14.48)	(14.13)
	Interest and financial costs paid	(22.91)	(59.11)
	Net cash generated/(used) in financing activities	14.40	(199.43)
D	Net increase / (Decrease) in cash and cash equivalents (A+B+C)	(128.98)	33.32
	Opening Balance of Cash and Cash Equivalents	134.73	101.41
	Closing Balance of Cash and Cash Equivalents	5.75	134.73

Place : Noida

Date : May 16, 2026

By Order of the Board of Directors

(Akshat Goenha)

Managing Director, DIN: 07131982

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DUNCAN

Date: May 16, 2026

To
Department of Corporate Services/Listing
BSE Limited
Phiroze Jeejeebhoy Towers
Dalal Street, Fort
Mumbai - 400 001

BSE Scrip Code: 504908

Sub: Declaration regarding the Auditor's Report with unmodified opinion(s) pursuant to Regulation 33 (3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir/ Madam,

Pursuant to the Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2016, the Company hereby declares that the Auditor has furnished its Report with unmodified opinion(s) in respect of Financial Results for the year ended March 31, 2026.

You are requested to take the above information on records

Thanking you.

For Duncan Engineering Limited
Kamal Saria
Chief Financial Officer

Duncan Engineering Limited
(Formerly known as Schrader Duncan Limited)
Registered Office & Plant
F-33, Ranjangaon MIDC, Karegaon, Tal. Shirur, Dist. Pune - 412 220. India
Telephone: +91 2138 660-066
Email: del@duncanengg.com Web: www.duncanengg.com
CIN: L28991PN1961PLC139151

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DUNCAN

ANNEXURE - C

The Disclosure pursuant to Regulation 30 of Listing Regulations read with SEBI Master circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30 January 2026

S. No.	Particulars	Mr. Akshat Goenka
1	reason for change viz. appointment, re- appointment, resignation, removal, death or otherwise	The term of Mr. Akshat Goenka as Managing Director of the Company will expire on February 09, 2027.

On the recommendation of the Nomination & Remuneration Committee and Subject to the approval of Members, the Board of Directors has approved the re-appointment of Mr. Akshat Goenka as Managing Director of the Company for further period of Three (3) with effect from February 09, 2027. |
| 2 | date of appointment/re-appointment/cessation (as applicable) & term of appointment/re-appointment | Re-appointed with effect from February 09, 2027.

Term of Re-appointment: He is re-appointed to hold the office of “Managing Director” for a period of 3 years from February 09, 2027 to February 09, 2030 subject to the approval of members. |
| 3 | brief profile (in case of appointment); | Not Applicable |
| 4 | disclosure of relationships between directors (in case of appointment of a director). | Mr. Akshat Goenka is son of Mr. Arvind Goenka, Non-Executive Director & Chairperson of the Company. |

Duncan Engineering Limited

(Formerly known as Schrader Duncan Limited)

Registered Office & Plant

F-33, Ranjangaon MIDC, Karegaon, Tal. Shirur, Dist. Pune - 412 209. India

Telephone: +91 2138 660-066 Fax: +91 2138 660-067

Email: del@duncanengg.com Web: www.duncanengg.com

CIN: L28991PN1961PLC139151

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DUNCAN

ANNEXURE - D

The Disclosure pursuant to Regulation 30 of Listing Regulations read with SEBI Master circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30 January 2026

S. No.	Particulars	Pipalia Singhal & Associates
1	reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise	Re-appointed as Internal Auditor for the Financial Year 2026–27, to hold office until such time as the Board of Directors may decide to revoke the same.
2	date of appointment/re-appointment/cessation (as applicable) & term of appointment/re-appointment	W.e.f. May 16, 2026
Term of re-appointment: Re-appointed as Internal Auditor from the Financial Year 2026–27, to hold office until such time as the Board of Directors may decide to revoke the same.
3	brief profile (in case of appointment);	Not Applicable
4	disclosure of relationships between directors (in case of appointment of a director).	NA

Duncan Engineering Limited

(Formerly known as Schrader Duncan Limited)

Registered Office & Plant

F-33, Ranjangaon MIDC, Karegaon, Tal. Shirur, Dist. Pune - 412 209. India

Telephone: +91 2138 660-066 Fax: +91 2138 660-067

Email: del@duncanengg.com Web: www.duncanengg.com

CIN: L28991PN1961PLC139151