GRP Limited — Earnings Release 2026

May 15, 2026

From
Corporate Office: 510, A Wing, Kohinoor City C-I
Kirol Road, Off L.B.S. Marg, Kurla (W)
Mumbai - 400 070, India
T: +91 22 6708 2600 / 2500

GRP
IMPACT POSITIVE

15.05.2026

To
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai - 400 001.

To
National Stock Exchange of India Limited
Exchange Plaza, Bandra Kurla Complex
Bandra (E),
Mumbai - 400 051.

Scrip code: 509152
Dear Sir / Madam,
Symbol: GRPLTD – Series: EQ

Sub: Outcome of Board Meeting held on 15th May, 2026

Pursuant to Regulation 30 & 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, please note that Board of Directors at its meeting held on 15th May, 2026 has approved the following:

1. Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended 31st March, 2026. Please find enclosed the following in Annexure I

a) Audited Annual Financial Results (Standalone and Consolidated) for the quarter and financial year ended 31st March, 2026- Attached.
b) Statement of Assets and Liabilities as on 31st March, 2026. (Standalone and Consolidated)- Attached.
c) Statement of Cash Flow for the financial year ended 31st March, 2026. (Standalone and Consolidated)- Attached.
d) Audit Report for the financial year ended 31st March, 2026. (Standalone and Consolidated)- Attached.
e) Statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. - not applicable because no issue of securities was made.
f) Format for disclosing outstanding default on loans and debt securities - not applicable because there is no outstanding on loans and debt securities.
g) Format for disclosure of related party transactions- Attached.
h) Declaration of unmodified opinion on Auditors Report issued by the Statutory Auditors of the Company, under Regulation 33(3)(d) of the Listing Regulations- Attached*.

1. Recommended a dividend of Rs. 3.50 (35%) (subject to deduction of tax at applicable rates) per fully paid-up equity share of Rs.10/- each for the financial year 2025-26, for approval of the shareholders at the ensuing Annual General Meeting of the Company.

The meeting of the Board of Directors commenced at 4:30 p.m. and concluded at 7:30 p.m.

Kindly take the above information on your records.

Thanking you,

Yours faithfully,

For GRP Limited

Shilpa
Narendra
Mehta

Signature signed by
Shilpa Narendra
Mehta
Date: 2026.05.15
20:24:17 +05'30'

Shilpa Mehta
Chief Financial Officer

GRP Ltd.
CIN No.: L25191GJ1974PLC002555
Registered Office:
Plot No. 8, G.I.D.C., Ankleshwar - 393 002, Dist. Bharuch, Gujarat, India
T: +91 2646 250471 / 251204 / 650433
www.grpweb.com

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RAJENDRA & CO.
CHARTERED ACCOUNTANTS
1311 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel: 6630 6735 E-mail: contact@rajendraco.com

Independent Auditors' Report on the Quarterly and Annual Audited Standalone Financial Results of GRP Limited ("the Company") pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To,
The Board of Directors of
GRP LIMITED

Report on the audit of the Standalone Financial Results

Opinion

We have audited the Standalone Financial Results of GRP LIMITED (the "Company"), for the quarter and year ended 31st March, 2026 (the "Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "LODR Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the statement:

a. is presented in accordance with the requirements of the LODR Regulations in this regard; and
b. gives a true and fair view in conformity with the recognition and measurement principles laid down in Indian Accounting Standards and other accounting principles generally accepted in India, of the net profit, total comprehensive income and other financial information of the Company for the year then ended.

Basis for Opinion on the Audited Standalone Financial Results for the year ended 31st March, 2026

We conducted our audit in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Companies Act, 2013 as amended from time to time ("the Act"). Our responsibilities under those Standards are further described in the "Auditors' Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of the Management and Board of Directors for the Statement

This Statement is the responsibility of the Company's Board of Directors and has been approved by them for issuance. The Standalone Financial Results for the year ended 31st March, 2026 has been compiled from the related audited standalone financial statements. This responsibility includes the preparation and presentation of the Standalone Financial Results for the quarter and year ended 31st March, 2026 that give a true and fair view of the net profit and other comprehensive income/(loss) and other financial information of the Company in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulations 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of

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RAJENDRA & CO.
MUMBAI
CHARTERED ACCOUNTANTS

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RAJENDRA & CO.
CHARTERED ACCOUNTANTS
1311 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel: 6630 6735 E-mail: contact@rajendraco.com

adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is also responsible for overseeing the financial reporting process of the Company.

Auditor's Responsibilities for the Audit of the Standalone Financial Results for the year ended 31st March, 2026

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the LODR Regulations.

• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

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RAJENDRA & CO. MUMBAI
CHARTERED ACCOUNTANTS

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RAJENDRA & CO.
CHARTERED ACCOUNTANTS
1311 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel : 6630 6735 E-mail : contact@rajendraco.com

• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the standalone financial results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the financial results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matter

The Statements includes the results for the quarter ended 31st March, 2026 being the balancing figure between the audited figures in respect of full financial year ended 31st March, 2026 and the published year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the LODR Regulations. Our opinion on the Audit of the standalone financial results for the year ended 31st March, 2026 is not modified in respect of this matter.

For Rajendra & Co.
Chartered Accountants
Firm Registration No. 10B355W

Apurva Shah
Partner
Membership No.: 047166
UDIN: 26047166Wv29uT4990
Place: Mumbai
Date: 15th May, 2026

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| GRP Limited (CIN: L25191GJ1974PLC002555)
Registered Office: Plot No.8, GIDC Estate, Ankleshwar - 393 002 Dist. Bharuch, Gujarat | | | | | | |
| --- | --- | --- | --- | --- | --- | --- |
| STATEMENT OF AUDITED STANDLAONE FINANCIAL RESULTS FOR THE QUARTER & YEAR ENDED 31st MARCH 2026 | | | | | | |
| ( in Lakhs, except per share data) | | | | | | |
| Sr
No. | Particulars | Standalone | | | | |
| | | Quarter ended | | | Year ended | |
| | | 31-03-2026 | 31-12-2025 | 31-03-2025 | 31-03-2026 | 31-03-2025 |
| | | Audited | Unaudited | Audited | Audited | Audited |
| I | Revenue from Operations (Gross) | 15,533.87 | 14,518.11 | 16,511.62 | 57,034.66 | 57,148.48 |
| | Less: Goods & Service Tax | 1,240.75 | 1,186.93 | 946.87 | 4,428.49 | 3,721.39 |
| | Revenue from Operations | 14,293.12 | 13,331.18 | 15,564.75 | 52,606.17 | 53,427.09 |
| II | Other Income | 89.26 | 113.25 | 115.69 | 493.86 | 425.24 |
| III | Total Income (I + II) | 14,382.38 | 13,444.43 | 15,680.44 | 53,100.03 | 53,852.33 |
| IV | Expenses | | | | | |
| | (a) Cost of Materials consumed | 7,440.60 | 6,911.19 | 6,184.94 | 26,908.29 | 24,280.47 |
| | (b) Purchases of Stock-in-Trade | - | - | - | - | - |
| | (c) Changes in inventories of finished goods, Stock-in-Trade and Work-in-progress | 322.77 | (114.62) | 188.44 | (21.28) | (68.41) |
| | (d) Employees benefits expense | 1,449.08 | 1,493.05 | 1,660.93 | 5,911.53 | 5,977.86 |
| | (e) Finance Costs | 401.48 | 369.21 | 307.38 | 1,422.91 | 972.56 |
| | (f) Depreciation & amortisation expense | 473.28 | 464.60 | 387.63 | 1,762.23 | 1,492.16 |
| | (g) Other Expenses | 4,121.90 | 3,924.54 | 4,211.90 | 15,601.86 | 16,194.70 |
| | Total Expenses (IV) | 14,209.11 | 13,047.97 | 12,941.22 | 51,585.54 | 48,849.34 |
| V | Profit/(Loss) before exceptional items and tax (III - IV) | 173.27 | 396.46 | 2,739.22 | 1,514.49 | 5,002.99 |
| VI | Exceptional Items | - | 140.41 | - | 140.41 | - |
| VII | Profit/(Loss) before tax (V-VI) | 173.27 | 256.05 | 2,739.22 | 1,374.08 | 5,002.99 |
| VIII | Tax Expense | | | | | |
| | (1) Current Tax | 117.29 | 7.35 | 505.94 | 160.85 | 1,048.45 |
| | (2) Deferred Tax | 63.79 | 12.74 | 102.17 | 320.56 | 168.52 |
| | Total Tax Expense | 181.08 | 20.09 | 608.11 | 481.41 | 1,216.97 |
| IX | Profit/(loss) for the period (VII-VIII) | (7.81) | 235.96 | 2,131.11 | 892.67 | 3,786.02 |
| X | Other Comprehensive Income | | | | | |
| | (i) Items that will not be reclassified to profit or loss | 38.54 | (103.86) | (39.41) | (33.25) | (152.91) |
| | (ii) Income tax relating to Items that will not be reclassified to profit or loss | (9.70) | 26.14 | 9.91 | 8.37 | 38.48 |
| | (iii) Items that will be reclassified to profit or loss | (378.93) | 37.97 | 45.49 | (1,327.33) | (17.27) |
| | (iv) Income tax relating to items that will be reclassified to profit or loss | 95.37 | (9.56) | (11.44) | 334.06 | 4.35 |
| | Total Other Comprehensive Income (X) | (254.72) | (49.31) | 4.55 | (1,018.15) | (127.35) |
| XI | Total Comprehensive Income for the period (IX + X) | (262.53) | 186.65 | 2,135.66 | (125.48) | 3,658.67 |
| XII | Paid up Equity Share Capital (Face value of ₹ 10/- each) | 533.33 | 533.33 | 533.33 | 533.33 | 533.33 |
| XIII | Other Equity excluding Revaluation Reserves as per Balance Sheet | - | - | - | 18,734.60 | 19,491.13 |
| XIV | Earning Per share (Face value of ₹ 10/- each) ( Not Annualised) | | | | | |
| | (1) Basic | (0.15) | 4.42 * | 39.96 * | 16.74 | 70.99 |
| | (2) Diluted | (0.15) | 4.42 * | 39.96 * | 16.74 | 70.99 |

** Current tax includes Short / (Excess) Tax Provision for earlier years

RAJENDRA & CO MUMBAI CHARTERED ACCOUNTANTS

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AUDITED STANDALONE SEGMENT INFORMATION FOR THE QUARTER & YEAR ENDED 31st MARCH 2026 (₹ in Lakhs)
Sr No.	Particulars	Standalone
		Quarter ended			Year ended
		31-03-2026	31-12-2025	31-03-2025	31-03-2026	31-03-2025
		Audited	Unaudited	Audited	Audited	Audited
1	Segment Revenue
	a) Reclaim Rubber	13,439.97	12,770.18	14,695.34	50,065.82	50,185.45
	b) Others	2,093.90	1,747.93	1,816.28	6,968.84	6,963.03
	Revenue from Operations (Gross)	15,533.87	14,518.11	16,511.62	57,034.66	57,148.48
	Less: Goods and Service Tax	1,240.75	1,186.93	946.87	4,428.49	3,721.39
	Revenue from Operations	14,293.12	13,331.18	15,564.75	52,606.17	53,427.09
2	Segment Results
	Profit/(Loss) Before Tax & Interest from each segment
	a) Reclaim Rubber	1,468.95	1,511.67	3,730.84	5,387.71	7,787.31
	b) Others	(79.22)	(78.18)	6.38	184.37	661.12
	Total	1,389.73	1,433.49	3,737.22	5,572.08	8,448.43
	Less: Finance Costs	401.48	369.21	307.38	1,422.91	972.56
	Less: Other unallocated expenses net of unallocated income	814.98	667.82	690.62	2,634.68	2,472.88
	Less: Exceptional Items		140.41		140.41
Profit/(Loss) before tax	173.27	256.05	2,739.22	1,374.08	5,002.99
3	Segment Assets
	a) Reclaim Rubber	26,095.20	21,949.51	21,839.06	26,095.20	21,839.06
	b) Others	14,624.24	17,114.76	14,833.19	14,624.24	14,833.19
	c) Unallocated Assets	6,294.36	7,396.73	4,369.21	6,294.36	4,369.21
	Total Segment Assets	47,013.80	46,461.00	41,041.46	47,013.80	41,041.46
4	Segment Liabilities
	a) Reclaim Rubber	5,294.86	4,795.07	4,907.86	5,294.86	4,907.86
	b) Others	8,963.55	8,776.62	1,549.74	8,963.55	1,549.74
	c) Unallocated Liabilities	13,487.46	13,393.69	14,559.41	13,487.46	14,559.40
	Total Segment Liabilities	27,745.87	26,965.38	21,017.01	27,745.87	21,017.00

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AUDITED STANDALONE STATEMENT OF ASSETS & LIABILITIES (₹ in Lakhs)
Sr No.
AS AT 31-03-2026
Audited
1
NON-CURRENT ASSETS
Property, Plant and Equipment
Capital Work in progress
Right of use assets
Investment Property
Intangible assets
Intangible assets under development
Financial Assets
- Investments
- Others
Other Non-current assets
Total Non-Current Assets
2
Inventories
Financial Assets
- Investments
- Trade receivables
- Cash and cash equivalents
- Bank balances other than mentioned above
- Loans
- Other Financial assets
Current Tax Assets (Net)
Other Current Assets
Total Current Assets
TOTAL ASSETS
1
EQUITY
Equity Share Capital
Other Equity
2
LIABILITIES
2A
Financial Liabilities
- Borrowings
- Lease Liabilities
- Other Financial liabilities
Provisions
Deferred Tax Liabilities (Net)
2B
CURRENT LIABILITIES
Financial Liabilities
- Borrowings
- Lease Liabilities
- Trade Payables
- Dues of micro and small enterprises
- Dues of creditors other than micro and small enterprises
- Other Financial Liabilities
Other Current Liabilities
Provisions
Current tax liabilities (Net)
Total Current Liabilities
Total Liabilities
TOTAL EQUITY AND LIABILITIES

RAJENDRA & CO. MUMBAI QUARTERED ACCOUNTANTS

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AUDITED STANDALONE CASH FLOW STATEMENT (₹ in Lakhs)
Sr No.	Particulars	Standalone
		Year ended
		31-03-2026	31-03-2025
		Audited	Audited
A	Cash Flow from Operating Activities
	Profit before exceptional items and tax	1,514.49	5,002.99
	Adjustments for:
	Depreciation	1,762.23	1,492.16
	Share of (Profit) / Loss in LLP	(93.91)	(158.83)
	(Profit) / Loss on sale of Property, plant and equipment (Net)	10.15	(5.90)
	Property, plant and equipment discarded	71.07	80.82
	Interest Income	(95.96)	(108.68)
	Dividend Income	-	(3.67)
	Interest Expense	1,422.91	972.56
	Rent Income	(70.60)	(67.42)
	Gain on Investment	(135.88)	25.25
	Net unrealised foreign exchange (gain)/loss	(78.74)	54.16
	Balances written off (net)	(12.32)	-
	Provision for Expected credit loss	0.56	30.57
	Employee benefits expenses	354.95	40.46
	Operating Profit before working capital changes	4,648.95	7,354.47
	Adjustments for
	(Increase)/Decrease in Trade and other receivables	(1,069.11)	(1,877.80)
	(Increase)/Decrease in Inventories	129.34	(200.19)
	Increase/(Decrease) in Trade and other payable	192.39	275.45
	Cash generated from operations	3,901.57	5,551.93
	Direct taxes paid (net of refund)	(993.49)	(762.97)
	Net Cash generated from Operating Activities	2,908.08	4,788.96
B	Cash Flow from Investing Activities
	Interest received	95.00	210.28
	Sale proceeds of Property, plant and equipment	44.36	330.10
	Rent Income	70.60	67.42
	Dividend Income	-	3.67
	(Purchase) / Sale of Current Investments	(1,058.18)	(14.81)
	Loan given to Subsidiary (Net of repayment)	6.50	(24.00)
	Investment in Subsidiary	(500.00)	-
	Purchase of Property, plant and equipment	(4,556.06)	(6,507.11)
	Net Cash used in Investing Activities	(5,897.78)	(5,934.45)
C	Cash Flow from Financing Activities
	Proceeds from Borrowings - Non Current (including current maturities)	4,479.20	2,266.29
	Repayment of Borrowings - Non Current (including current maturities)	(640.28)	(976.65)
	Borrowings - Current (Net)	1,171.78	1,414.23
	Interest paid	(1,272.33)	(919.36)
	Payment of Lease Liabilities	(46.29)	(33.66)
	Dividend paid	(773.33)	(500.00)
	Net Cash used in Financing Activities	2,918.75	1,250.85
D	Net Increase / (Decrease) in Cash and cash equivalents (A + B + C)	(70.95)	105.36
	Cash and cash equivalents as at 1st April	112.16	6.80
	Cash and cash equivalents as at 31st March	41.21	112.16

RAJENDRA & CO. MUMBAI CHARTERED ACCOUNTANTS

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NOTES

1. These results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in India.

2. The above results are reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 15th May, 2026.

3. Based on the “management approach” as defined in Ind AS 108 – Operating Segments, the Chief Operating Decision Maker (CODM) evaluates the Company’s performance and allocates resources based on an analysis of various performance indicators of business segment/s in which the company operates, ‘Reclaim Rubber’ has been identified as reportable segment and smaller business segments not separately reportable have been grouped under the heading ‘Others’.

4. The figures for the quarter ended 31st March, 2026 and 31st March, 2025 are the balancing figures between the Audited figures in respect of the full financial year and the year to date figures up to the third quarter of respective financial year which were subjected to Limited Review by the Statutory Auditors.

5. The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four labour codes viz 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 “Labour Codes”). The Codes have been made effective from 21st November, 2025. The new Labour Codes have resulted in one time increase in provision for employee benefit of the company. The incremental impact of these changes amounts to ₹ 140.41 lakhs, based on the information available and consistent with the guidance provided by the Institute of Chartered Accountants of India, has been recognised and presented as Exceptional Items in the standalone financial results of the Company for the year ended 31st March, 2026.

The Company will continue to monitor the developments pertaining to the labour codes and will evaluate the impact, if any, on the measurement of the employee benefit liabilities.

1. The Company had during the previous financial year reserved for issuance 160,000 Equity Shares of ₹ 10/- each for offering to the eligible employees of the Company and its Subsidiaries under an Employees Stock Option Scheme (ESOS-2024). As on 31st March 2026, the Company had granted 26,870 options (net of options lapsed) to the eligible employees at a price of ₹ 3,208/- per option. The Options would vest over a maximum period of 4 years from the date of grant based on specified criteria. For the year ended 31st March, 2026, such ESOP options are not dilutive to EPS considering its exercise price and market price. There are no grant of options during this financial year.

2. The Board of Directors have recommended a dividend of ₹ 3.50 (35%) (subject to deduction of tax at applicable rates) per fully paid up equity share of ₹ 10/- each for the financial year 2025-26, for approval of the shareholders at the ensuing Annual General Meeting of the Company.

3. Figures for the previous period are regrouped/reclassified wherever necessary, to make them comparable.

FOR GRP LIMITED

HARSH R. GANDHI
MANAGING DIRECTOR

Place : Mumbai
Date : 15th May, 2026

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RAJENDRA & CO.
CHARTERED ACCOUNTANTS
1311 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel : 6630 6735 E-mail : contact@rajendraco.com

Independent Auditors' Report on the Quarterly and Annual Audited Consolidated Financial Results of GRP Limited ("Company") pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To,
The Board of Directors of
GRP LIMITED

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the Consolidated financial results of GRP LIMITED ("Holding Company"), and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") for the quarter and year ended 31st March, 2026 ("Statement"), attached herewith, 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 ("LODR Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the statement:

a) Includes the results of the following entities:

(i) GRP Limited - Holding Company
(ii) Grip Circulars Solutions Limited – wholly owned Subsidiary Company
(iii) Gripsurya Recycling LLP – LLP with majority stake

b) are presented in accordance with the requirements of the LODR Regulations in this regard; and

c) gives a true and fair view in conformity with the recognition and measurement principles laid down in Indian Accounting Standards ("IND AS") and other accounting principles generally accepted in India of consolidated net profit, consolidated total comprehensive income and other financial information of the Group for the quarter and year ended 31st March, 2026.

Basis for Opinion on the Audited Consolidated Financial Results for the year ended 31st March, 2026

We conducted our audit in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Companies Act, 2013 as amended from time to time ("the Act") Our responsibilities under those Standards are further described in the "Auditors' Responsibilities for the Audit of the Consolidated Financial Results" section of our report. We are independent of the Group in accordance with the 'Code of Ethics' issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of the Management and Board of Directors for the Statement

The Statement is the responsibility of the Holding Company's Board of Directors and has been approved by them for the issuance. The Consolidated Financial Results for the year ended 31st March, 2026 has been compiled from the related audited consolidated financial statements. This responsibility includes the preparation and presentation of the Consolidated Financial Results for the quarter and year ended 31st March, 2026 that give a true and fair view of the consolidated net profit and consolidated other comprehensive income/(loss) and other financial information of the Group in

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RAJENDRA & CO. CHARTERED ACCOUNTANTS
1311 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel : 6630 6735 E-mail : contact@rajendraco.com

accordance with the recognition and measurement principles laid down in the Indian Accounting Standards, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulations 33 of the LODR Regulations.

The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of this Consolidated Financial Results by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are also responsible for overseeing the financial reporting process of the Group.

Auditor’s Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the LODR Regulations.

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RAJENDRA & CO. MUMBAI CHARTERED ACCOUNTANTS

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RAJENDRA & CO. CHARTERED ACCOUNTANTS
1311 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel : 6630 6735 E-mail : contact@rajendraco.com

• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial results/ financial information of the entities within the Group to express an opinion on the statement.

Materiality is the magnitude of misstatements in the consolidated financial results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the consolidated financial results

We communicate with those charged with governance of the Holding company and such other entities included in the statement of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated 29th March, 2019 issued by the Securities Exchange Board of India under Regulation 33(8) of the LODR Regulations, to the extent applicable.

Other Matter

The Statements includes the results for the quarter ended 31st March, 2026 being the balancing figure between the audited figures in respect of full financial year ended 31st March, 2026 and the published year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the LODR Regulations. Our opinion on the Audit of the consolidated financial results for the year ended 31st March, 2026 is not modified in respect of this matter.

For Rajendra & Co.
Chartered Accountants
Firm Registration No. 108355W

Apurva Shah
Partner
Membership No.: 047166
UDIN: 26047166LWNBYN2367
Place: Mumbai
Date: 15th May, 2026

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| GRP Limited (CIN: L25191GJ1974PLC002555)
Registered Office: Plot No.8, GIDC Estate, Ankleshwar - 393 002 Dist. Bharuch, Gujarat | | | | | | |
| --- | --- | --- | --- | --- | --- | --- |
| STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER & YEAR ENDED 31st MARCH 2026 | | | | | | |
| (₹ in Lakhs, except per share data) | | | | | | |
| Sr
No. | Particulars | Consolidated | | | | |
| | | Quarter ended | | | Year ended | |
| | | 31-03-2026 | 31-12-2025 | 31-03-2025 | 31-03-2026 | 31-03-2025 |
| | | Audited | Unaudited | Audited | Audited | Audited |
| I | Revenue from Operations (Gross) | 15,722.40 | 14,683.49 | 17,059.68 | 58,132.01 | 59,051.73 |
| | Less: Goods & Service Tax | 1,270.79 | 1,212.64 | 1,025.21 | 4,599.24 | 4,006.40 |
| | Revenue from Operations | 14,451.61 | 13,470.85 | 16,034.47 | 53,532.77 | 55,045.33 |
| II | Other Income | 49.52 | 47.83 | 24.71 | 267.88 | 135.77 |
| III | Total Income (I + II) | 14,501.13 | 13,518.68 | 16,059.18 | 53,800.65 | 55,181.10 |
| IV | Expenses | | | | | |
| | (a) Cost of Materials consumed | 7,483.07 | 6,975.90 | 6,524.61 | 27,431.25 | 25,549.90 |
| | (b) Purchases of Stock-in-Trade | - | - | - | - | - |
| | (c) Changes in inventories of finished goods, Stock-in-Trade and Work-in-progress | 355.47 | (116.02) | 177.41 | 3.22 | (169.54) |
| | (d) Employees benefits expense | 1,519.59 | 1,549.23 | 1,718.79 | 6,155.70 | 6,208.09 |
| | (e) Finance Costs | 400.38 | 386.10 | 324.74 | 1,478.78 | 1,047.13 |
| | (f) Depreciation & amortisation expense | 497.74 | 489.06 | 416.33 | 1,865.67 | 1,601.75 |
| | (g) Other Expenses | 4,199.29 | 3,986.75 | 4,328.61 | 15,919.25 | 16,650.29 |
| Total Expenses (IV) | 14,455.54 | 13,271.02 | 13,490.49 | 52,853.87 | 50,887.62 | |
| V | Profit Before Share of Profit / (Loss) of Joint Ventures, Exceptional Items and Tax (III - IV) | 45.59 | 247.66 | 2,568.69 | 946.78 | 4,293.48 |
| VI | Share of Profit / (Loss) of Joint Ventures | - | - | - | - | - |
| VII | Profit/(Loss) before exceptional items and tax (V + VI) | 45.59 | 247.66 | 2,568.69 | 946.78 | 4,293.48 |
| VIII | Exceptional Items | - | 140.41 | - | 140.41 | - |
| IX | Profit/(Loss) before tax (VII-VIII) | 45.59 | 107.25 | 2,568.69 | 806.37 | 4,293.48 |
| X | Tax Expense | | | | | |
| | (1) Current Tax | 119.52 | 7.35 | 505.94 | 163.07 | 1,048.43 |
| | (2) Deferred Tax | 59.90 | 14.63 | 118.10 | 321.16 | 174.72 |
| | Total Tax Expense | 179.42 | 21.98 | 624.04 | 484.23 | 1,223.15 |
| XI | Profit/(loss) for the period (IX-X) | (133.83) | 85.27 | 1,944.65 | 322.14 | 3,070.33 |
| XII | Other Comprehensive Income | | | | | |
| | (i) Items that will not be reclassified to profit or loss | 38.54 | (103.86) | (39.41) | (33.25) | (152.91) |
| | (ii) Income tax relating to Items that will not be reclassified to profit or loss | (9.70) | 26.14 | 9.91 | 8.37 | 38.48 |
| | (iii) Items that will be reclassified to profit or loss | (378.93) | 37.97 | 45.49 | (1,327.33) | (17.27) |
| | (iv) Income tax relating to items that will be reclassified to profit or loss | 95.37 | (9.56) | (11.44) | 334.06 | 4.35 |
| XIII | Total Other Comprehensive Income (XII) | (254.72) | (49.31) | 4.55 | (1,018.15) | (127.35) |
| | Total Comprehensive Income for the period (XI+XII) | (388.55) | 35.96 | 1,949.20 | (696.01) | 2,942.98 |
| XIV | Profit for the year attributable to | | | | | |
| | -Owners of the Company | (133.84) | 85.23 | 1,944.59 | 322.04 | 3,070.16 |
| | -Non-controlling interest | 0.01 | 0.04 | 0.06 | 0.10 | 0.17 |
| | Other comprehensive income for the year attributable to | | | | | |
| | -Owners of the Company | (254.72) | (49.31) | 4.55 | (1,018.15) | (127.35) |
| | -Non-controlling interest | - | - | - | - | - |
| | Total comprehensive income for the year attributable to | | | | | |
| XV | -Owners of the Company | (388.56) | 35.92 | 1,949.14 | (696.11) | 2,942.81 |
| | -Non-controlling interest | 0.01 | 0.04 | 0.06 | 0.10 | 0.17 |
| XVI | Paid up Equity Share Capital (Face value of ₹ 10/- each) | 533.33 | 533.33 | 133.33 | 533.33 | 133.33 |
| XVII | Other Equity excluding Revaluation Reserves as per Balance Sheet | - | - | - | 17,302.83 | 18,629.99 |
| XVII | Earning Per share (Face value of ₹ 10/- each) ( Not Annualised) | | | | | |
| | (1) Basic | (2.51) | 1.60 * | 36.46 * | 6.04 | 57.57 |
| | (2) Diluted | (2.51)* | 1.60 * | 36.46 * | 6.04 | 57.57 |

** Current tax includes Short / (Excess) Tax Provision for earlier years

MAJENDRA & CO. MUMBAI
GREATERED ACCOUNTANTS

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AUDITED CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER & YEAR ENDED 31st MARCH 2026 (% in Lakhs)
Sr No.	Particulars	Consolidated
		Quarter ended			Year ended
		31-03-2026	31-12-2025	31-03-2025	31-03-2026	31-03-2025
		Audited	Unaudited	Audited	Audited	Audited
1	Segment Revenue
	a) Reclaim Rubber	13,355.87	12,735.27	14,703.50	49,903.92	50,112.95
	b) Others	2,366.53	1,948.22	2,356.18	8,228.09	8,938.78
	Revenue from Operations (Gross)	15,722.40	14,683.49	17,059.68	58,132.01	59,051.73
	Less: Goods and Service Tax	1,270.79	1,212.64	1,025.21	4,599.24	4,006.40
	Revenue from Operations	14,451.61	13,470.85	16,034.47	53,532.77	55,045.33
2	Segment Results
	Profit/(Loss) Before Tax & Interest from each segment
	a) Reclaim Rubber	1,466.98	1,441.26	3,793.49	5,496.72	7,978.20
	b) Others	(166.49)	(74.54)	(118.78)	(211.59)	123.56
	Total	1,300.49	1,366.72	3,674.71	5,285.13	8,101.76
	Less: Finance Costs	400.38	386.10	324.74	1,478.78	1,047.13
	Less: Other unallocated expenses net of unallocated income	854.52	732.96	781.28	2,859.57	2,761.15
	Less: Exceptional Items	-	140.41	-	140.41	-
	Profit/(Loss) before tax	45.59	107.25	2,568.69	806.37	4,293.48
3	Segment Assets
	a) Reclaim Rubber	23,751.10	19,781.27	20,230.28	23,751.10	20,230.28
	b) Others	16,134.33	18,621.10	16,598.15	16,134.33	16,598.15
	c) Unallocated Assets	6,293.78	7,401.19	4,369.21	6,293.78	4,369.21
	Total Segment Assets	46,179.21	45,803.56	41,197.64	46,179.21	41,197.64
4	Segment Liabilities
	a) Reclaim Rubber	3,630.27	3,299.19	3,470.66	3,630.27	3,470.66
	b) Others	11,198.06	10,885.44	3,975.74	11,198.06	3,975.74
	c) Unallocated Liabilities	13,514.72	13,429.08	14,587.92	13,514.72	14,587.92
	Total Segment Liabilities	28,343.05	27,613.71	22,034.32	28,343.05	22,034.32

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AUDITED CONSOLIDATED STATEMENT OF ASSETS & LIABILITIES
Sr No.	Particulars	Consolidated
		AS AT 31-03-2026	AS AT 31-03-2025
		Audited	Audited
1	ASSETS
	NON-CURRENT ASSETS
	Property, Plant and Equipment	21,088.75	16,708.39
	Capital Work in progress	579.49	2,732.55
	Right of use assets	1,434.60	1,397.43
	Investment Property	93.29	95.62
	Other Intangible assets	37.73	21.18
	Intangible assets under development	13.69
	Financial Assets
	- Investments	16.45	12.90
	- Others	217.14	350.31
	Other Non-current assets	889.70	536.51
	Total Non-Current Assets	24,370.84	21,854.89
	CURRENT ASSETS
	Inventories	5,184.28	5,343.63
	Financial Assets
- Investments	1,341.41	150.90
- Trade receivables	10,944.79	10,063.46
- Cash and cash equivalents	47.45	125.31
2	Bank balances other than mentioned above	18.55	17.67
	- Other Financial assets	2,565.21	2,533.21
	Current Tax Assets (Net)	577.30
	Other Current Assets	1,129.38	1,108.57
	Total Current Assets	21,808.37	19,342.75
	TOTAL ASSETS	46,179.21	41,197.64
	EQUITY AND LIABILITIES
	EQUITY
	Equity Share Capital	533.33	533.33
	Other Equity	17,302.83	18,629.99
2A	Equity attributable to Owners of the Company	17,836.16	19,163.32
	Non-Controlling Interests	0.65	0.55
	Total Equity	17,836.81	19,163.87
2B	LIABILITIES
	NON-CURRENT LIABILITIES
	Financial Liabilities
	- Borrowings	8,629.08	3,759.29
	- Lease Liabilities	75.32	26.32
	- Other Financial liabilities	9.30	14.30
	Provisions	311.51	426.02
	Deferred Tax Liabilities (Net)	1,399.81	1,412.71
	Total Non-Current Liabilities	10,425.02	5,638.64
	CURRENT LIABILITIES
2B	Financial Liabilities
	- Borrowings	12,009.64	10,857.80
	- Lease Liabilities	36.02	31.56
	- Trade Payables
	- Dues of micro and small enterprises	1,175.88	1,090.50
	- Dues of creditors other than micro and small enterprises	1,703.14	1,740.75
	- Other Financial Liabilities	1,397.68	725.67
	Other Current Liabilities	1,324.20	1,445.89
	Provisions	270.82	232.00
	Current tax liabilities (Net)		270.96
	Total Current Liabilities	17,917.38	16,395.13
	Total Liabilities	28,342.40	22,033.77
	TOTAL EQUITY AND LIABILITIES	46,179.21	41,197.64

BAYENDRA & CO. MUMBAI CHARTERED ACCOUNTANTS

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AUDITED CONSOLIDATED CASH FLOW STATEMENT (₹ in Lakhs)
Sr No.
Year ended
31-03-2026
Audited
A
Profit before exceptional items and tax
Adjustments for:
Depreciation
(Profit) / Loss on sale of Property, plant and equipment (Net)
Property, plant and equipment discarded
Amortization of Deferred Income
Interest Income
Dividend Income
Interest Expense
Rent Income
Gain on Investment
Net unrealised foreign exchange (gain)/loss
Balances written off (net)
Provision for Expected credit loss
Employee benefits expenses
Operating Profit before working capital changes
Adjustments for
(Increase)/Decrease in Trade and other receivables
(Increase)/Decrease in Inventories
Increase/(Decrease) in Trade and other payable
Cash generated from operations
Direct taxes paid (net of refund)
Net Cash generated from Operating Activities
B
Interest received
Sale proceeds of Property, plant and equipment
Rent Income
Dividend Income
(Purchase) / Sale of Current Investments
Investment in Fixed Deposit
Purchase of Property, plant and equipment
Net Cash used in Investing Activities
C
Proceeds from Borrowings - Non Current (including current maturities)
Repayment of Borrowings - Non Current (including current maturities)
Borrowings - Current (Net)
Interest paid
Payment of Lease Liabilities
Dividend paid
Net Cash used in Financing Activities
D
Cash and cash equivalents as at 1st April
Cash and cash equivalents as at 31st March

RAJENDRA & CO. MUMBAI QUARTERED ACCOUNTANTS

m

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NOTES

1. These results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in India.

2. The above results are reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 15th May, 2026.

3. Based on the “management approach” as defined in Ind AS 108 – Operating Segments, the Chief Operating Decision Maker (COOM) evaluates the Group’s performance and allocates resources based on an analysis of various performance indicators of business segment/s in which the Group operates, ‘Reclaim Rubber’ has been identified as reportable segment and smaller business segments not separately reportable have been grouped under the heading ‘Others’.

4. The figures for the quarter ended 31st March, 2026 and 31st March, 2025 are the balancing figures between the Audited figures in respect of the full financial year and the year to date figures up to the third quarter of respective financial year which were subjected to Limited Review by the Statutory Auditors.

5. The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four labour codes viz 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 “Labour Codes”). The Codes have been made effective from 21st November, 2025. The new Labour Codes have resulted in one time increase in provision for employee benefit of the Group. The incremental impact of these changes amounts to ₹ 140.41 lakhs, based on the information available and consistent with the guidance provided by the Institute of Chartered Accountants of India, has been recognised and presented as Exceptional Items in the consolidated financial results of the Group for the year ended 31st March, 2026.

The Group will continue to monitor the developments pertaining to the labour codes and will evaluate the impact, if any, on the measurement of the employee benefit liabilities.

1. The Group had during the previous financial year reserved for issuance 160,000 in the previous financial year Equity Shares of ₹ 10/- each for offering to the eligible employees of the Group under an Employees Stock Option Scheme (ESOS-2024). As on 31st March 2026, the Group had granted 26,870 options (net of options lapsed) to the eligible employees at a price of ₹ 3,208/- per option. The Options would vest over a maximum period of 4 years from the date of grant based on specified criteria. For the year ended 31st March, 2026, such ESOP options are not dilutive to EPS considering its exercise price and market price. There are no grant of options during this financial year.

2. The Board of Directors have recommended a dividend of ₹ 3.50 (35%) (subject to deduction of tax at applicable rates) per fully paid up equity share of ₹ 10/- each for the financial year 2025-26, for approval of the shareholders at the ensuing Annual General Meeting of the Company.

3. Figures for the previous period are regrouped/reclassified wherever necessary, to make them comparable.

FOR GRP LIMITED

Place : Mumbai
Date : 15th May, 2026

HARSH R. GANDHI
MANAGING DIRECTOR

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Amount in (Lakhs)

Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)

Sr. No.	Details of the party (listed entity /subsidiary) entering into the transaction		Details of the counterparty			Type of related party transaction	Details of other related party transaction	Value of the related party transaction as approved by the audit committee	Remarks on approval by audit committee	Value of the related party transaction ratified by the audit committee	Date of Audit Committee Meeting where the ratification was approved	Value of transaction during the reporting period	In case monies are due to either party as a result of the transaction
	Name	PAN	Name	PAN	Relationship of the counterparty with the listed entity or its subsidiary								Opening balance	Closing balance
1	GRP Limited	AIAC01890M	GRPCircular Solutions Limited	AIAC09616I	Wholly Owned Subsidiary	Investment		500.00	Approved	500.00	15-05-2026	500.00	200.00	700.00
2	GRP Limited	AIAC01890M	Gripsurya Recycling LLP	AANF058570	LLP with majority stake	Any other transaction	Share of Profit / (Loss) in subsidiaries	42.20	Approved	42.20	15-05-2026	42.20	539.70	581.90
3	GRP Limited	AIAC01890M	Gripsurya Recycling LLP	AANF058570	LLP with majority stake	Purchase of goods or services		479.96	Approved	479.96	15-05-2026	479.96	274.76	256.22
4	GRP Limited	AIAC01890M	GRPCircular Solutions Limited	AIAC09616I	Wholly Owned Subsidiary	Purchase of goods or services		3.22	Approved	3.22	15-05-2026	3.22	0.00	0.00
5	GRP Limited	AIAC01890M	Gripsurya Recycling LLP	AANF058570	LLP with majority stake	Sale of goods or services		37.66	Approved	37.66	15-05-2026	37.66	0.00	0.00
6	GRP Limited	AIAC01890M	GRPCircular Solutions Limited	AIAC09616I	Wholly Owned Subsidiary	Sale of goods or services		76.39	Approved	76.39	15-05-2026	76.39	386.01	574.70
7	GRP Limited	AIAC01890M	GRPCircular Solutions Limited	AIAC09616I	Wholly owned subsidiary	Any other transaction	Reimbursement of Expenses	35.36	Approved	35.36	15-05-2026	35.36	0.00	0.00
8	GRP Limited	AIAC01890M	GRPCircular Solutions Limited	AIAC09616I	Wholly owned subsidiary	Any other transaction	Rent Income	25.31	Approved	25.31	15-05-2026	25.31	0.00	0.00
9	GRP Limited	AIAC01890M	Gripsurya Recycling LLP	AANF058570	LLP with majority stake	Sale of goods or services		17.74	Approved	17.74	15-05-2026	17.74	0.00	0.00
10	GRP Limited	AIAC01890M	GRPCircular Solutions Limited	AIAC09616I	Wholly owned subsidiary	Any other transaction	Commission on Corporate Guarantee	0.60	Approved	0.60	15-05-2026	0.60	0.00	0.00
11	GRP Limited	AIAC01890M	GRPCircular Solutions Limited	AIAC09616I	Wholly owned subsidiary	Inter-corporate deposit		-249.50	Approved	-249.50	15-05-2026	-249.50	1102.00	852.50
12	GRP Limited	AIAC01890M	GRPCircular Solutions Limited	AIAC09616I	Wholly owned subsidiary	Interest received		43.02	Approved	43.02	15-05-2026	43.02	0.00	0.00
13	GRP Limited	AIAC01890M	Alphamco Netsecure Private Limited	AAFCA2675R	Enterprises over which Key Managerial Personnel are able to exercise significant influence	Any other transaction	Loan written off new recovered	0.88	Approved	0.88	15-05-2026	0.88	0.00	0.00
14	GRP Limited	AIAC01890M	GRPE Employees Group Gratutry Trust	AAAT02547E	Post Employment Benefit Plans	Any other transaction	Contributions during the year	200.00	Approved	200.00	15-05-2026	200.00	0.00	0.00
15	GRP Limited	AIAC01890M	GRPE Employees Group Superannuation Scheme	AAAT09524F	Post Employment Benefit Plans	Any other transaction	Contributions during the year	7.92	Approved	7.92	15-05-2026	7.92	0.00	0.00
16	GRP Limited	AIAC01890M	Rajendra V. Gandhi	AKCP06485D	Key Managerial Personnel / Executive Chairman	Remuneration		50.00	Approved	50.00	15-05-2026	50.00	0.00	0.00
17	GRP Limited	AIAC01890M	Harsh R. Gandhi	AEPP00437E	Key Managerial Personnel / Managing Director	Remuneration		168.34	Approved	168.34	15-05-2026	168.34	0.00	0.00
18	GRP Limited	AIAC01890M	Hemal H. Gandhi	AALPM3089Q	Key Managerial Personnel / Executive Director	Remuneration		32.10	Approved	32.10	15-05-2026	32.10	0.00	0.00
19	GRP Limited	AIAC01890M	Shilpa Mehta	AFWPM2496M	Key Managerial Personnel / Chief Financial Officer	Remuneration		42.37	Approved	42.37	15-05-2026	42.37	0.00	0.00
20	GRP Limited	AIAC01890M	Iyoti Sanchezh	AMUPB3921H	Key Managerial Personnel / Company Secretary	Remuneration		11.38	Approved	11.38	15-05-2026	11.38	0.00	0.00
21	GRP Limited	AIAC01890M	Rajendra V. Gandhi	AKCP06485D	Relatives of Key Managerial Personnel	Any other transaction	Services Rendered	68.21	Approved	68.21	15-05-2026	68.21	0.00	0.00
22	GRP Limited	AIAC01890M	Rajendra V. Gandhi	AKCP06485D	Relatives of Key Managerial Personnel	Any other transaction	Sitting fees (including Conveyance)	3.10	Approved	3.10	15-05-2026	3.10	0.00	0.00

Total value of transaction during the reporting period
1596.26

---

From

Corporate Office: 510, A Wing, Kohinoor City C-I

Kiroi Road, Off L.B.Shastri Marg, Kurla (W)

Mumbai - 400 070, India

T: +91 22 6708 2600 / 2500

AHEAD

GRP

IMPACT POSITIVE

To	To
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza, Bandra Kurla Complex
Dalal Street,	Bandra (E),
Mumbai - 400 001.	Mumbai - 400 051.
Scrip code: 509152	Symbol: GRPLTD. - Series: EQ

Dear Sir / Madam,

Sub: Declaration pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

DECLARATION

I, Harsh R. Gandhi, Managing Director of GRP Limited, having Registered Office at Plot No-8, G.I.D.C. Estate, Ankleshwar - 393002, Gujarat, hereby declare that the Statutory Auditors of the Company M/s. Rajendra & Co. (Firm Registration No.:108355W) have issued an Audit Report with unmodified opinion on the Audited Financial Results of the Company (Standalone and Consolidated) for the year ended 31st March, 2026.

This declaration is in compliance with Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Kindly take this declaration on your records.

Thanking you,

Yours faithfully,

For GRP Limited

Harsh R. Gandhi

Managing Director

GRP Ltd.

CIN No.: L25191GJ1974PLC002555

Registered Office:

Plot No. 8, G.I.D.C., Ankleshwar - 393 002, Dist. Bharuch, Gujarat, India

T: +91 2646 250471 / 251204 / 650433 F: +91 2646 251622

www.grpweb.com