AI assistant
Foseco India Ltd — Interim / Quarterly Report 2026
May 12, 2026
61556_rns_2026-05-12_9f91cab7-2782-48c7-9e95-b0fd3c5483bf.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
FOSECO
May 12, 2026
BSE Limited
Listing Department,
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai 400 001
National Stock Exchange of India Limited
Listing Department,
Exchange Plaza, 5th Floor,
Plot No. C/1, G Block,
Bandra Kurla Complex,
Bandra (East), Mumbai-400 051
Dear Madam/Sir,
Ref: BSE Scrip Code: 500150, NSE Symbol: FOSECOIND, ISIN: INE519A01011
Sub: Outcome of the Board Meeting
- Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended March 31, 2026
- Re-appointment of the Internal Auditor
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, we write to advise that the Board of Directors of the Company at its Meeting held today, i.e., May 12, 2026 has approved:-
1) the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended March 31, 2026
In this regard, we are submitting herewith the following documents:-
a) The Unaudited Standalone and Consolidated Financial Results of the Company for the above period; and
b) The Limited Review Report of the Statutory Auditors on the Financial Results.
2) Re-appointment of the Internal Auditor
The re-appointment of Ernst and Young LLP, Pune, as the Internal Auditor of the Company for a period of 1 year effective from 1st April, 2026.
The details as required under SEBI LODR read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023, is given herein below.
| S. No. | Particulars | Description |
|---|---|---|
| 1. | Reason for change viz., appointment, resignation, removal, death or otherwise | Re-appointment of Ernst & Young LLP, 10th Floor, Smartworks, M-Agile, Pan Card Club Road, Baner, Pune, Maharashtra - 411045, India (E&Y), as the Internal Auditor. |
Foseco is a brand of the Vesuvius Group.
Foseco India Limited
Gat Nos. 922 & 923, Sanaswadi, Taluka Shiraj, District Pune 412 208, India
Tel.: +91 (0)2137 668100 / Fax: +91 (0)2137 668160 / Web: www.vesuvius.com/www.fosecoindia.com, CIN: L24294PN1958PLC011057
FOSECO
| 2. | Date of appointment /-cessation (as applicable) and term of appointment | Re-appointment is effective from 1^{st} April, 2026 till 31^{st} March 2027, for a period of 1 year. |
|---|---|---|
| 3. | Brief Profile | E&Y specializes in internal audit and consulting services, tax and transactions services. |
| E&Y India's internal audit services are underlined by strong industry knowledge and experience. The knowledge base is built on experience of supporting large Indian groups and organizations which are into manufacturing and consumer products. | ||
| 4. | Disclosure of relationships between Directors (in case of appointment of a director) | Not Applicable |
The Board Meeting commenced at 1610 hours (IST) hours and concluded at 1730 hours (IST).
You are requested to take the above information on record.
Thanking you,
Yours faithfully,
For FOSECO INDIA LIMITED
MAHENDRA
KUMAR DUTIA
Mahendra Kumar Dutia
Digitally signed by MAHENDRA KUMAR DUTIA
Date: 2026.05.12 18:37:13
+05'30'
Controller of Accounts and Company Secretary
Enclosing: as above
Foseco is a brand of the Vesuvius Group.
Foseco India Limited
Gat Nos. 922 & 923, Sanaswadi, Taluka Shiraj, District Pune 412 208, India
Tel.: +91 (0)2137 668100 / Fax: +91 (0)2137 668160 / Web: www.vesuvius.com/www.fosecoindia.com, CIN : L24294PN1958PLC011057
Price Waterhouse Chartered Accountants LLP
Review Report
To
The Board of Directors
Foseco India Limited
Gat No 922 and 923, Sanaswadi,
Taluka Shirur, Pune-412208
Maharashtra, India
-
We have reviewed the standalone unaudited financial results of Foseco India Limited (the “Company”) for the quarter ended 31st March, 2026, which are included in the accompanying ‘Standalone Statement of unaudited financial results for the quarter ended 31st March, 2026’ (the “Statement”). The Statement has been prepared by the Company pursuant to 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.
-
This Statement, which is the responsibility of the Company’s Management and approved by the 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, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
-
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. 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.
-
Based on our review conducted as above, nothing has come to our attention that causes us to believe that the 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.
For Price Waterhouse Chartered Accountants LLP
Firm Registration Number: 012754N/N500016

Ali Akbar
Partner
Membership Number: 117839
UDIN: 26117839QGVDTY2936
Place: Mumbai
Date: 12th May, 2026

Price Waterhouse Chartered Accountants LLP, Nesco IT Building III, 8th Floor, Nesco IT Park, Nesco Complex, Gate No. 3 Western Express Highway, Goregaon East, Mumbai 400 063
T: +91 (22) 61197810
Registered office and Head office: 11-A, Vishnu Digamber Marg, Sucheta Bhawan, New Delhi - 110002
Price Waterhouse (a Partnership 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 ICAI registration number is 012754N/N500016 (ICAI registration number before conversion was 012754N)
F
FOSECO
Foseco India Limited
Registered Office: Gat Nos. 922 & 923, Sanaswadi, Taluka Shirur, District Pune - 412208
Tele: +91 2137 668100, Fax: +91 2137 668160
Website: www.fosecoindia.com, E-mail ID: [email protected]
Corporate Identity Number: L24294PN1958PLC011052
Standalone Statement of unaudited financial results for the quarter ended 31st March, 2026
(All figures in INR Lakhs)
| Sr. No. | Particulars | Current
3 months ended | Preceding
3 months ended | Corresponding
3 months ended
In the previous year | Previous
Accounting Year Ended |
| --- | --- | --- | --- | --- | --- |
| | | 31st March, 2026
Unaudited | 31st December, 2025
Unaudited
(Refer note-2) | 31st March, 2025
Unaudited | 31st December, 2025
Audited |
| 1 | Income from Operations | | | | |
| | a Revenue from Operations | 16,270.26 | 14,753.40 | 14,851.49 | 60,401.65 |
| | b Other Income | 543.01 | 453.73 | 422.07 | 1,676.67 |
| | Total Income from Operations (a to b) | 16,813.27 | 15,207.13 | 15,273.56 | 62,078.32 |
| 2 | Expenses | | | | |
| | a Cost of materials consumed | 7,641.48 | 7,587.43 | 7,454.36 | 30,420.37 |
| | b Purchase of Stock in Trade | 1,543.15 | 708.05 | 655.82 | 2,526.94 |
| | c Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade | (283.48) | (165.46) | (13.11) | 10.99 |
| | d Employee benefit expense | 1,441.71 | 1,331.61 | 1,336.13 | 5,476.61 |
| | e Finance cost | 2.99 | 3.27 | 3.83 | 14.05 |
| | f Depreciation and amortisation expense | 243.61 | 252.27 | 233.59 | 980.20 |
| | g Other expenses | 2,998.25 | 2,877.06 | 2,688.61 | 11,352.81 |
| | Total Expenses (a to g) | 13,587.71 | 12,594.23 | 12,359.23 | 50,781.97 |
| 3 | Profit for the period / year
(before tax and exceptional items) | 3,225.56 | 2,612.90 | 2,914.33 | 11,296.35 |
| 4 | Exceptional Item (refer note 4 below) | - | 450.92 | - | 930.77 |
| 5 | Profit before tax | 3,225.56 | 2,161.98 | 2,914.33 | 10,365.58 |
| 6 | Tax Expense | | | | |
| | - Current tax | 839.00 | 599.72 | 736.59 | 2,854.31 |
| | - Deferred tax | (9.61) | 9.26 | 10.87 | (10.47) |
| | Total Tax Expense | 829.39 | 608.98 | 747.46 | 2,843.84 |
| 7 | Net Profit for the Period / Year | 2,396.17 | 1,553.00 | 2,166.87 | 7,521.74 |
| 8 | Other comprehensive income, net of tax | | | | |
| | a Items that will not be reclassified to profit or loss | | | | |
| | i Remeasurements of post employment benefit obligations | (2.10) | (100.09) | (4.11) | (112.42) |
| | ii Tax relating to this item | 0.53 | 25.19 | 1.03 | 28.29 |
| | Total other comprehensive income, net of tax | (1.57) | (74.90) | (3.08) | (84.13) |
| 9 | Total comprehensive income for the period / year (7 +/- 8) | 2,394.60 | 1,478.10 | 2,163.79 | 7,437.61 |
| 10 | Paid up Equity Share Capital (Face Value Rs. 10/- per share) | 753.73 | 753.73 | 638.65 | 753.73 |
| 11 | Earnings per equity share (not annualised)
Basic and diluted earnings per share (in Rs.) | 31.79 | 22.15 | 33.93 | 114.94 |
| 12 | Reserves excluding Revaluation Reserve as per Audited Balance Sheet of 31st December, 2025 | | | | 103,176.55 |
A
38000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
Notes
-
The results have been reviewed by the Audit Committee and approved by the Company's Board of Directors at their respective meetings held on May 12, 2026. The Statutory Auditors have conducted a limited review of the financial results for the period ended March 31, 2026 and have issued an unmodified report.
-
Figures for the preceding 3 months ended 31st December, 2025 are the balancing figures between audited figures in respect of full previous financial year 31st December, 2025 and the published year to date figures up to third quarter ended 30th September, 2025. These figures have been approved by the Board of Directors, but have not been subjected to review / audit by the auditors.
-
The Company has only one reportable segment, metallurgical products and services, in accordance with Ind AS 108 - "Operating Segments", notified pursuant to the Companies (Indian Accounting Standards) Rules, 2015.
-
During the previous year, the Company had recognised the pre-acquisition expenses towards regulatory fees, stamp duty, advisory and valuation consultancy etc. related to investment in Foseco Crucible (India) Limited, (formerly known as Morganite Crucible (India) Limited), given the significance and non-recurring nature, these expenses had been disclosed as an exceptional item.
-
The aforesaid financial results of the Company have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of Listing Regulations.
-
Pursuant to the acquisition of Foseco Crucible (India) Limited (formerly known as Morganite Crucible (India) Limited) (FCIL) during the previous year, a mandatory "Open Offer" under Regulation 3(1) and Regulation 4 of the SEBI (SAST) was triggered and Rs. 21,810 lakhs were deposited by the Company in the Escrow Account for purpose of Open Offer. The Open Offer was concluded on January 13, 2026 and 99,081 shares were tendered by public shareholders of FCIL under the Open Offer for a consideration of Rs. 1,542.84 lakhs.

Date: May 12, 2026
Place: Pune

For Foseco India Limited
Prasad Madhukar Chavare
Managing Director & CEO
DIN: 08846863
Price Waterhouse Chartered Accountants LLP
Review Report
To
The Board of Directors
Foseco India Limited
Gat No 922 and 923, Sanaswadi,
Taluka Shirur, Pune-412208
Maharashtra, India
-
We have reviewed the consolidated unaudited financial results of Foseco India Limited (the "Holding Company") and its subsidiary (the Holding Company and its subsidiary hereinafter referred to as the "Group") (refer paragraph 4 below), for the quarter ended 31st March, 2026 which are included in the accompanying 'Consolidated Statement of unaudited financial results for the quarter ended 31st March, 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.
-
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" ("Ind AS 34"), 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.
-
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. 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 SEBI under Regulation 33 (8) of the Listing Regulations, 2015, as amended, to the extent applicable.
- The Statement includes the results of the following entity:
| Name of the entity | Relationship |
|---|---|
| Foseco Crucible (India) Limited (formerly known as Morganite Crucible (India) Limited) | Subsidiary |
- Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of other auditors referred to in paragraph 6 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.

Price Waterhouse Chartered Accountants LLP, Nesco IT Building III, 8th Floor, Nesco IT Park, Nesco Complex, Gate No. 3 Western Express Highway, Goregaon East, Mumbai 400 063
T: +91 (22) 61197810
Registered office and Head office: 11-A, Vishnu Digamber Marg, Sucheta Bhawan, New Delhi - 110002
Price Waterhouse (a Partnership 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 ICAI registration number is 012754N/N500016 (ICAI registration number before conversion was 012754N)
Price Waterhouse Chartered Accountants LLP
- The interim financial information of one subsidiary reflect total revenue from operations of Rs. 3,735.20 lakhs, net loss after tax of Rs. 139.61 lakhs and total comprehensive income of Rs. (75.68) lakhs, for the quarter ended, as considered in the consolidated unaudited financial results. These interim financial information have been reviewed by other auditors in accordance with SRE 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” and their report, vide which they have issued an unmodified conclusion, have been furnished to us by the other auditors and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based on the reports of the other auditor and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of this matter.
For Price Waterhouse Chartered Accountants LLP
Firm Registration Number: 012754N/N500016
Ali Akbar
Partner
Membership Number: 117839
UDIN: 26117839BAMBEU9559
Place: Mumbai
Date: 12th May, 2026

FOSECO
Foseco India Limited
Registered Office: Dal Nos, 922 & 923, Sanaswadi, Taluka Shirur, District Pune - 412208
Tele: +91 2137 668100, Fax: +91 2137 668160
Website: www.fosecoindia.com, E-mail: D. [email protected]
Corporate Identity Number: L24294PN1958PLC011052
Consolidated Statement of unaudited financial results for the quarter ended 31st March, 2026
(All figures in INR Leaks)
| Sr. No. | Particulars | Current
3 months ended | Preceding
3 months ended | Corresponding
3 months ended
in the previous year | Previous
Accounting Year Ended |
| --- | --- | --- | --- | --- | --- |
| | | 31st March, 2026
Unaudited | 31st December, 2025
Unaudited
(Refer note-2) | 31st March, 2026
Unaudited | 31st December, 2025
Audited |
| 1 | Income from Operations | | | | |
| | a Revenue from Operations | 20,187.96 | 18,893.60 | 14,851.49 | 64,341.85 |
| | b Other Income | 835.11 | 459.66 | 422.07 | 1,882.60 |
| | Total Income from Operations (a to b) | 21,023.09 | 19,153.26 | 15,273.08 | 86,024.45 |
| 2 | Expenses | | | | |
| | a Cost of materials consumed | 8,624.42 | 8,899.12 | 7,454.38 | 31,732.06 |
| | b Purchase of Stock in Trade | 1,558.22 | 739.35 | 655.62 | 2,558.24 |
| | c Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade | (255.70) | (222.71) | (13.11) | (46.26) |
| | d Employee benefit expense | 1,952.83 | 1,667.48 | 1,336.13 | 5,812.46 |
| | e Finance cost | 10.55 | 5.43 | 3.83 | 16.21 |
| | f Depreciation and amortisation expense | 815.11 | 604.19 | 233.59 | 1,332.12 |
| | g Other expenses | 3,974.96 | 3,416.79 | 2,688.61 | 11,892.54 |
| | Total Expenses (a to g) | 16,880.39 | 15,109.65 | 12,359.23 | 53,297.39 |
| 3 | Profit for the period / year
(before tax and exceptional items) | 4,142.70 | 4,043.61 | 2,914.33 | 12,727.06 |
| 4 | Exceptional (Income)/Expenses (refer note 4 below) | (216.37) | 1,686.40 | - | 2,166.25 |
| 5 | Profit before tax | 4,359.07 | 2,357.21 | 2,914.33 | 10,580.81 |
| 6 | Tax Expense | | | | |
| | - Current tax | 1,070.72 | 948.39 | 736.59 | 3,202.98 |
| | - Deferred tax | (60.34) | (109.26) | 10.87 | (128.99) |
| | Total Tax Expense | 1,010.38 | 839.13 | 747.46 | 3,073.99 |
| 7 | Net Profit for the Period / Year | 3,348.69 | 1,518.08 | 2,188.87 | 7,486.82 |
| 8 | Other comprehensive income, net of tax | | | | |
| | a Items that will not be reclassified to profit or loss | | | | |
| | i Remeasurements of post employment benefit obligations | 83.33 | (121.23) | (4.11) | (133.58) |
| | ii Tax relating to this item | (20.97) | 30.51 | 1.03 | 33.61 |
| | Total other comprehensive income, net of tax | 62.36 | (90.72) | (3.08) | (99.95) |
| 9 | Total comprehensive income for the period / year (7 +/- 0) | 3,411.05 | 1,427.36 | 2,163.79 | 7,386.87 |
| 10 | Net Profit for the year attributable to: | | | | |
| | Owners of the parent | 3,381.10 | 1,260.00 | 2,168.87 | 7,228.74 |
| | Non-controlling interests | (32.41) | 256.08 | - | 256.08 |
| 11 | Other comprehensive income for the year attributable to: | | | | |
| | Owners of the parent | 47.52 | (86.76) | (3.08) | (95.99) |
| | Non-controlling interests | 14.84 | (3.96) | - | (3.96) |
X
1
2016 FSECO
Foseco India Limited
Registered Office: Gal Nos, 922 & 923, Sanaswadi, Taluka Shriur, District Pune – 412208
Tele: +91 2137 698100, Fax: +91 2137 668160
Website: www.fosecoindia.com, E-mail ID: [email protected]
Corporate Identity Number: L24294PN1958PLC011052
Consolidated Statement of unaudited financial results for the quarter ended 31st March, 2026
US marks in INR Lakhs
| Sr. No. | Particulars | Current
3 months ended | Preceding
3 months ended | Corresponding
3 months ended
in the previous year | Previous
Accounting Year Ended |
| --- | --- | --- | --- | --- | --- |
| | | 31st March, 2026
Unaudited | 31st December, 2025
Unaudited
(Refer note-2) | 31st March, 2026
Unaudited | 31st December, 2025
Audited |
| 12 | Total comprehensive income for the year attributable to: | | | | |
| | Owners of the parent | 3,428.62 | 1,173.24 | 2,163.79 | 7,132.75 |
| | Non-controlling interests | (17.57) | 254.12 | - | 254.12 |
| 13 | Paid up Equity Share Capital (Face Value Rs. 18/- per share) | 753.73 | 753.73 | 638.65 | 753.73 |
| 14 | Earnings per equity share (not annualised)
Basic and diluted earnings per share (in Rs.) | 44.86 | 17.97 | 33.93 | 110.46 |
| 15 | Reserves excluding Revaluation Reserve as per Audited Balance Sheet of 31st December, 2025 | | | | 1,02,871.89 |
NOTES:
-
The consolidated results have been reviewed by the Audit Committee and approved by the Company's Board of Directors at their respective meetings held on 12th May, 2026. The Statutory Auditors have conducted a limited review of the consolidated financial results for the period ended 31st March, 2026 and have issued an unmodified report.
-
Figures for the preceding 3 months ended 31st December, 2025 are the balancing figures between audited figures in respect of full previous financial year 31st December, 2025 and the published year to date figures up to third quarter ended 30th September, 2025. These figures have been approved by the Board of Directors, but have not been subjected to review / audit by the auditors.
-
Pursuant to the acquisition of Foseco Crucible (India) Limited (formerly known as Morganite Crucible (India) Limited) (FCIL) during the previous year, a mandatory "Open Offer" under Regulation 3(1) and Regulation 4 of the SEBI (SAS1) was triggered and Rs. 21,810 lakhs were deposited by the Company in the Escrow Account for purpose of Open Offer. The Open Offer was concluded on January 13, 2026 and 99,081 shares were tendered by public shareholders of FCIL under the Open Offer for a consideration of Rs. 1,542.84 lakhs.
-
(a) During the year ended 31st December, 2025, the Group has recognised the pre-acquisition expenses amounting to Rs.1,688.52 lakhs (including Rs. 1,408.67 recognised during the quarter ended 31st December, 2025) towards regulatory fees, stamp duty, advisory and valuation consultancy etc. related to investment in Morganite Crucible (India) Limited, given the significance and non-recurring nature, these expenses have been disclosed as an exceptional item.
(b) The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four labour codes, namely the Code on Wages, 2019, the Code on Social Security, 2020, the Industrial Relations Code, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the "Codes"), which have become effective from 31 November 2025.
Based on the information available and in accordance with the guidance issued by the Institute of Chartered Accountants of India, the Group had assessed the incremental impact of the implementation of the Codes and recognised an additional provision of Rs. 277.73 lakhs, pertaining to its subsidiary, as an exceptional item in the results for the quarter ended December 2025.
Subsequently, during the current quarter, based on additional clarifications issued by the Ministry of Labour & Employment, the management reassessed the liability towards gratuity and compensated absences. Consequently, a provision amounting to Rs. 216.37 lakhs, pertaining to the aforesaid subsidiary, have been reversed and disclosed as an exceptional item in the above results.
- In 2023, Foseco Crucible (India) Limited (FCIL), formerly known as Morganite Crucible (India) Limited commenced a project to develop a product line for a new market and made certain investments as part of this project.
Pursuant to the acquisition of FCIL by the Group (Foseco India Limited), a preliminary purchase price allocation (PPA) was performed. Certain assets were recognized at provisional fair values. This was due to limited information available at the acquisition date, regarding the use of these assets and future revenue projections had not yet been finalized. The Group remains within the permissible measurement period to refine those valuations.
Management of FCIL and the Group has undertaken reassessment of the economic potential of these assets and concluded that the project related assets have been written down to recoverable Value and a corresponding increase in goodwill by Rs. 2,135.18 lakhs is recognised.
-
Pursuant to the acquisition stated in note 3 above, the comparative figures presented in the consolidated financial results for the quarter ended 31st March, 2026 represents standalone figures of the Parent Company.
-
The Group has only one reportable segment, metallurgical products and services, in accordance with Ind AS 108 - "Operating Segments", notified pursuant to the Companies (Indian Accounting Standards) Rules, 2015.
-
The aforesaid financial results of the Group have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of Listing Regulations.
Date: 12th May, 2026
Place: Pune


For F0SECO INDIA LIMITED

Presed Madhukar Chavare
Managing Director & Chief Executive Officer
DIN: 08846853