Hindustan Composites Ltd — Annual Report 2026

Apr 23, 2026

HINDUSTAN COMPOSITES LIMITED

HINDUSTAN COMPOSITES LTD.
Peninsula Business Park, Tower A, 8th Floor,
Senapati Bapat Marg, Lower Parel, Mumbai - 400 013.
Tel.:(91) (22) 6688 0100
Email: hcl@hindcompo.com Website: www.hindcompo.com
CIN No. L29120MH1964PLC012955

23rd April, 2026

To
The Manager-DCS
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai- 400 001
Scrip Code: 509635

The Manager - Listing
National Stock Exchange of India Ltd.
Exchange Plaza, 5th Floor, 'G' Block
Bandra Kurla Complex,
Bandra (East), Mumbai - 400 051
SYMBOL: HINDCOMPOS

Dear Sir/Madam,

Sub: Outcome of Board Meeting held on 23rd April, 2026

Pursuant to the provisions of Regulations 30 and 33(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we wish to inform you that the Board of Directors of the Company at its meeting held today i.e. 23rd April, 2026, inter alia, considered the following matters:

1. Approved the Audited Standalone Financial Results of the Company for the quarter and financial year ended 31st March, 2026.
2. Approved the Audited Consolidated Financial Results of the Company for the quarter and financial year ended 31st March, 2026.

The copies of the Audited Standalone and Consolidated Financial Results for the quarter and financial year ended 31st March, 2026 along with Standalone and Consolidated Cash Flow Statement for the financial year ended on that date and Standalone and Consolidated Statement of Assets and Liabilities as on 31st March, 2026, Auditors' Reports on said results and declaration of un-modified opinion pursuant to Regulation 33(3)(d) of the Listing Regulations are enclosed herewith for your records.

1. Recommended the payment of dividend on Equity Shares of Rs. 5/- each @ Rs. 2 /- (Rupees two only) per share for the financial year ended 31st March, 2026, subject to approval of the members in the ensuing Annual General Meeting of the Company. The dividend, if approved at the ensuing Annual General Meeting of the Company, shall be paid within 30 days of the ensuing Annual General Meeting. The date of Annual General Meeting will be intimated in due course of time.
2. Re-appointed M/s. Suresh Pimple & Associates, Cost Accountants, Chhatrapati Sambhajinagar (Firm Registration No. 100780) as Cost Auditors of the Company for the financial year 2026-27 pursuant to the provisions of Section 148 of the Companies Act, 2013 and rules made thereunder.
3. Approved the Capacity expansion Plan for the financial year 2026-27.

Regional Offices - MUMBAI * NEW DELHI * KOLKATA * CHENNAI

---

COMPOSITES

1. The Board of Directors of the Company has given following comments in the matter of imposition of a fine of Rs. 1,55,000/- (excluding GST) for delayed submission of the Unaudited Financial Results (consolidated) for the quarter ended 30th June, 2019, for alleged non-compliance under Regulation 33 of the Listing Regulations:

The Company is not in default as per clarification given by the BSE vide its Circular No. LIST/COMP/30/2019-20 dated September 26, 2019 with reference to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Informal Guidance issued by SEBI on August 02, 2019 in the matter of Shriram Transport Finance Company Limited that it is mandatory for listed companies to file quarterly / year to date consolidated financial results after consolidating the financial statements of Subsidiary and or its Associate companies / Joint ventures as the case may be, with the Standalone results of the listed company from the quarter ending September 30, 2019 onwards.

Accordingly, the Board of Directors states that the Company has not violated the aforesaid provisions, however, the Company has made payment of aforesaid fine on 9th April, 2026 and has filed waiver application to BSE Ltd. in this regard.

The disclosure pursuant to Regulation 30 and Part A of Schedule III of the Listing Regulations read with the SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated 30th January, 2026 as amended, is enclosed herewith as Annexure - A with regard to item nos. 4 and 5 above.

The meeting of the Board of Directors commenced at 3.30 p.m. and concluded at 5.35 p.m.

Kindly take the above on your record.

Thanking you,

Yours faithfully,

For Hindustan Composites Limited

Digitally signed
by ARVIND
PUROHIT
Date: 2026.04.23
17:40:39 +05'30'

Arvind Purohit
Company Secretary & Compliance Officer
Membership No.: A33624

Encl.: As stated above

---

COMPOSITES

Annexure A

Item No. 4: Re-appointment of M/s. Suresh Pimple & Associates, Cost Accountants as Cost Auditors

Sr. No.	Particulars	Details
1	Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise;	Re-appointment
2	Date of appointment / re-appointment / cessation (as applicable) & term of appointment / re-appointment	M/s. Suresh Pimple & Associates, Cost Accountants, Chhatrapati Sambhajinagar (Firm Registration No. 100780) are re-appointed as Cost Auditors of the Company for the financial year 2026-27, pursuant to the provisions of Section 148 of the Companies Act, 2013 and rules made thereunder, by Board in its meeting held on 23rd April, 2026.
3	Brief profile (in case of appointment)	M/s. Suresh Pimple & Associates, Cost Accountants is Practicing Cost Accountant Proprietary Firm owned by CMA Suresh Pimple, B.Sc. (Hons), FCMA Diploma in IS System Audit & Control, having experience of around 16 years in the areas of Cost Accounting, GST, Income Tax, Bank Finance, Bank Stock, Company law and various certifications.
4	Disclosure of relationships between directors (in case of appointment of a director).	Not applicable.

Item No. 5: Approved the capacity expansion plan for the financial year 2026-27

PARTICULARS	PRODUCT
			Railway Brake Block/Pad
a)	Existing Capacity (Monthly)	Nos	425000
b)	Existing Capacity Utilization (%)	%	84%
c)	Proposed Capacity addition (Monthly)	Nos	85000

---

COMPOSITES

d)	Period within which the proposed capacity is to be added	Months	6
e)	Investment required	Rs. (in Lakh)	350
f)	Mode of financing		Internal resources
g)	Rationale		To cater additional demand in this segment

---

HINDUSTAN COMPOSITES LIMITED

Regd. Office: A Tower, 8th Floor, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013

Tel: 022-66880100, Fax: 022-66880105

visit us at www.hindcompc.com

CIN No. L29120MH1964PLC012955

HINDUSTAN COMPOSITES LIMITED

Statement of Audited Standalone Financial Results for the quarter and year ended 31st March, 2026

Sr.No.	Particulars	(Rs. In Lakhs, except per share data)
		Three Months Ended 31-Mar-26 (Audited) a	Three Months Ended 31-Dec-25 (Unaudited)	Three Months Ended 31-Mar-25 (Audited) a	Year Ended 31-Mar-26 (Audited)	Year Ended 31-Mar-25 (Audited)
1	INCOME
	a) Revenue from operations	10,484	9,451	8,915	37,501	32,508
	b) Other Income	41	-	881	41	905
2	Total Income	10,525	9,451	9,796	37,542	33,413
	Expenses
	a) Cost of materials consumed	4,184	3,964	3,741	15,760	14,326
	b) Purchase of stock-in-trade	983	993	-	2,977	-
	c) Changes in Inventories of finished goods, work-in-progress and stock-in-trade	(344)	(298)	41	(879)	(30)
	d) Employee benefits expense	1,194	1,151	1,087	4,680	4,194
	e) Finance Costs	5	6	1	28	8
	f) Depreciation and amortization expense	317	299	259	1,198	1,033
	g) Other Expenses	2,834	2,158	2,423	9,418	8,136
Total Expenses	9,173	8,273	7,552	33,182	27,667
3	Profit before exceptional items and tax (1-2)	1,352	1,178	2,244	4,360	5,746
4	Exceptional Items (Refer note no. 2)	-	291	1,275	291	1,275
5	Profit before tax (3-4)	1,352	667	969	4,069	4,471
6	Tax Expenses
	Current tax	433	433	34	1,382	901
	Deferred tax	(247)	(213)	328	(420)	70
	Tax expense of earlier year	(4)	-	-	(4)	-
7	Net Profit for the Period (5-6)	1,170	667	607	3,111	3,500
8	Other Comprehensive Income (OCI)
	a) Items that will not be reclassified to profit or loss	(2,232)	1,703	(757)	4,327	7,677
	b) Income tax relating to items that will not be reclassified to profit or loss	318	(258)	96	(679)	(1,185)
	c) Items that will be reclassified to profit or loss	(544)	(108)	70	(451)	152
	d) Income tax relating to items that will be reclassified to profit or loss	80	16	(12)	67	(62)
	Other Comprehensive Income	(2,378)	1,353	(603)	3,264	6,582
	Total Comprehensive Income after Tax (7+8)	(1,208)	2,020	4	6,375	10,082
9	Paid-up Equity Share Capital (Face Value of Rs. 5 per share)	738	738	738	738	738
10	Other Equity				114,002	107,922
	Earnings per Share (Basic and Diluted) (Rs.)	7.92	4.52	4.11	21.06	23.70

Reporting of Segment wise Revenue, Result, Assets and Liabilities as on 31st March, 2026

Sr.No.	Particulars	(Rs. In Lakhs)
Three Months Ended 31-Mar-26 (Audited) a	Three Months Ended 31-Dec-25 (Unaudited)	Three Months Ended 31-Mar-25 (Audited) a
1	Segment Revenue
- Composite Products	8,679	8,138
- Investment	1,275	824
- Trading in Commodity	530	489
	Total Income	10,484
2	Segment Results (Profit(+)/ Loss (-) before Tax from each segment)
- Composite Products	1,275	1,039
- Investment	622	629
- Trading in Commodity	18	10
Sub Total	1,915	1,678
Less: Unallocable Expenses / (Income)
Unallocable Expenses	599	494
Finance Cost	5	6
Exceptional Items (Refer note no. 2)	-	291
Other Income	(41)	-
Profit before Tax	1,352	887
3	a) Segment Assets
- Composite Products	12,800	11,726
- Investment	108,685	111,773
- Trading in Commodity	942	584
- Unallocable	4,054	3,991
Total	126,481	128,074
b) Segment Liabilities
- Composite Products	5,848	5,667
- Investment	4,268	4,791
- Trading in Commodity	34	16
- Unallocable	1,591	1,652
	Total	11,741

MUMBAI-01

---

HINDUSTAN COMPOSITES LIMITED

Regd. Office: A Tower, 8th Floor, Peninsula Business Park,
Senapati Bapat Marg, Lower Parel, Mumbai - 400013
Tel: 022-66880100, Fax: 022-66880105
visit us at www.hindcompo.com
CIN No. L29120MH1964PLC012955

Standalone Statement of Assets and Liabilities as at 31st March, 2026

Sr. No.	Particulars	(Rs. in Lakhs)
		As at
31-Mar-26
(Audited)	As at
31-Mar-25
(Audited)
I	ASSETS
(1)	NON-CURRENT ASSETS
(a) Property, Plant and Equipment		14,425	13,295
(b) Capital Work in Progress		-	423
(c) Other Intangible assets		79	93
(d) Intangible assets under development		-	6
(e) Right of use - Lease		581	-
(f) Financial Assets
(i) Investments		97,205	91,679
(ii) Loans		225	300
(iii) Other Financial Assets		32	40
(g) Other Non Current Assets		98	63
TOTAL NON-CURRENT ASSETS		112,645	105,899
(2)	CURRENT ASSETS
(a) Inventories		2,090	1,151
(b) Financial Assets
(i) Investments		3,406	4,540
(ii) Trade receivables		6,353	5,127
(iii) Cash and cash equivalents		171	319
(iv) Bank balances other than (iii) above		40	38
(v) Loans		310	1,077
(vi) Other financial assets		1,035	1,125
(c) Other current assets		431	359
TOTAL CURRENT ASSETS		13,836	13,736
TOTAL ASSETS		126,481	119,635
II	EQUITY AND LIABILITIES
	EQUITY
(a) Equity Share Capital		738	738
(b) Other Equity		114,002	107,922
TOTAL EQUITY		114,740	108,660
LIABILITIES
(1)	NON-CURRENT LIABILITIES
(a) Financial Liabilities		78	-
- Lease Liabilities		375	291
(b) Provisions		5,220	4,982
(c) Deferred tax liabilities (Net)		85	96
(d) Other non-current liabilities		5,758	5,369
TOTAL NON-CURRENT LIABILITIES		5,758	5,369
(2)	CURRENT LIABILITIES
(a) Financial Liabilities		-	3
(i) Borrowings		-	-
(ii) Lease Liabilities		90	-
(iii) Trade payables
- Total Outstanding Dues of Micro and small enterprises		812	371
- Total Outstanding Dues of Creditors other than Micro and small enterprises		4,358	4,681
(iv) Other financial liabilities		101	83
(b) Other current liabilities		318	222
(c) Provisions		210	158
(d) Current tax liabilities (Net)		94	88
TOTAL CURRENT LIABILITIES		5,983	5,606
TOTAL EQUITY AND LIABILITIES		126,481	119,635

Notes:

1. The above Financial results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 23rd April, 2026. The statutory auditors of the Company have audited the financial result for the quarter and year ended 31st March, 2026 in terms of Regulations 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and have issued their reports with unmodified opinion. The Board of Directors of the Company has recommended the payment of dividend on equity shares of Rs. 5/- each @ Rs. 2 per share for the year ended 31st March, 2026.

2. Exceptional item for the year ended March 31, 2026 pertains to the impact of New Labour Codes effective November 21, 2025, whereby the Government of India has consolidated multiple existing labour legislations into a unified framework comprising four Labour Codes collectively referred to as the 'New Labour Codes'. Under Ind AS 19, changes to employee benefit plans arising from this legislative change constitute to plan amendment, requiring recognition of past service cost immediately in the statement of profit and loss.

The New Labour Codes has resulted in estimated increase in provision for employee benefits of the Company arising out of past service cost amounting to Rs. 291 lakhs and the same has been recognized as an exceptional item in the current year. The Government of India is in the process of notifying related rules into the New Labour Codes and impact of these will be evaluated and accounted for in accordance with applicable accounting standards in the period in which they are notified.

1. • The figures for the current quarter and corresponding quarter of the previous year are the balancing figures between the audited figures for the full financial year and unaudited published year to date figures up to the third quarter.

2. Previous periods' figures have been rearranged / regrouped wherever considered necessary to conform to the presentation of the current period. All figures of financial results have been rounded off to nearest lakhs rupees.

Place : Mumbai
Dated : 23rd April, 2026

MUMBAI-01
For Hindustan Composites Limited
N. K. CHOUDHAN
Managing Director
(DIN No 00535670)

---

HINDUSTAN COMPOSITES LIMITED

HINDUSTAN COMPOSITES LIMITED

Regd. Office: A Tower, 8th Floor, Peninsula Business Park,
Senapati Bapat Marg, Lower Parel, Mumbai - 400013
Tel: 022-66880100, Fax: 022-66880105
visit us at www.hindcompo.com
CIN No. L29120MH1964PLC012955

Standalone Statement of Cash Flow for the year ended 31st March, 2026

Sr. No.	Particulars	(Rs. in Lakhs)
Year Ended 31-Mar-26 (Audited)	Year Ended 31-Mar-25 (Audited)
A	Cash flow from operating activities:
Net profit before tax	4,069	4,471
Adjustment to reconcile profit before tax to net cash flows
Depreciation and amortization expense	1,198	1,033
Fair valuation of investments through profit and loss	856	(192)
Realised (gain) / loss on investments through profit and loss	(889)	(47)
Interest Income	(3,739)	(3,648)
Dividend Income	(190)	(194)
(Profit) / Loss on Sale/discard of Property, Plant and Equipment (Net)	11	(528)
Remeasurements of defined benefit plans	(6)	(80)
Interest expenditure	28	8
Operating profit before working capital changes	1,338	823
Adjustment for
(Increase)/Decrease in trade receivable	(1,227)	(1,402)
(Increase)/Decrease in Other Financial Assets	9	10
(Increase)/Decrease in Other Non Current Assets	(35)	(11)
(Increase)/Decrease in other receivable	(10)	52
(Increase)/Decrease in Inventories	(939)	277
(Increase)/Decrease in Other Current Financial Assets	(125)	6
(Increase)/Decrease in Other Current Assets	(72)	18
(Decrease)/Increase in trade payables	118	569
(Decrease)/Increase in long term provisions	85	36
(Decrease)/Increase in short term provisions	52	(22)
(Decrease)/Increase in other current financial liabilities	17	18
(Decrease)/Increase in other current liabilities	97	76
(Decrease)/Increase in other non current liabilities	(11)	(13)
Cash generated from/(used in) operations	(703)	437
Add/(Deduct)
Dividend Received	190	194
Interest Received	3,953	3,506
Net cash generated from operating activities before taxes paid	3,440	4,137
Direct taxes paid (net)	(1,327)	(1,151)
Net cash generated from operating activities	2,113	2,986
B	Cash flow from investing activities
Purchase of Property, Plant and Equipment	(2,227)	(2,069)
Proceeds on sale of Property, Plant and Equipment	2	1,498
Purchase of Investments	(22,119)	(14,059)
Proceeds on sale of Investments	20,543	13,839
Inter-Corporate Deposits Placed	(400)	(1,180)
Inter-Corporate Deposits Refunded	1,250	180
Net cash generated from/(used in) investing activities	(2,951)	(1,791)
C	Cash flow from financing activities
(Repayment) / Proceeds of long-term borrowings	-	(3)
(Repayment) / Proceeds of short-term borrowings	(3)	(6)
Repayment of lease liabilities	(84)	-
Dividend Paid	(295)	(295)
Interest paid	(28)	(8)
Net Cash generated from/(used in) financing activities	(410)	(312)
Net Increase/ Decrease in cash and cash equivalent (A+B+C)	(1,248)	883
D	Cash and Cash equivalents as at beginning of the year	1,659
Cash and Cash equivalents as at end of the year (includes Rs.240 lakhs (Previous year Rs. 1,340 lakhs) investment in liquid mutual funds)	411	1,659

MUMBAI-01

---

LODHA & CO LLP
Chartered Accountants
6, Karim Chambers, 40, Ambalal Doshi Marg
(Hamam Street), Fort, Mumbai-400 001
Telephone: 0091-22-22691414/40021415
Email: mumbai@lodhaco.com

Independent Auditor's Report

To
The Board of Directors of Hindustan Composites Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying standalone quarterly financial results of Hindustan Composites Limited ('the Company') for the quarter and year ended March 31, 2026, attached herewith along with notes thereto, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, these standalone financial results:

(i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and

(ii) give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the quarter and year ended March 31, 2026.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor’s 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 standalone financial results 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 we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial results.

Management’s Responsibilities for the Standalone Financial Results

These Standalone financial results have been prepared on the basis of the audited standalone financial statements for the year ended March 31, 2026. The Company’s Board of Directors are responsible for the preparation of these standalone financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the applicable 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 Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of 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 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 financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Regd. Office: 19, Esplanade Mansions, 14 Government Place East, Kolkata 700069, West Bengal, India. Lodha & Co (Registration No. 301051E) a Partnership Firm was converted into Lodha & Co LLP (Registration No. 301051E/E300284) a Limited Liability Partnership having Identification No.: ACE-5752 with effect from December 27, 2023

Kolkata Mumbai New Delhi Chennai Hyderabad Jaipur

---

LODHA & CO LLP

In preparing the financial results, 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 are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are 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 these financial results.

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

• Identify and assess the risks of material misstatement of the standalone financial results, 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 control relevant to the audit in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• 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 standalone financial results 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.
• Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results 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 standalone financial results may be influenced. We

MUMBAI.CI

---

LODHA & CO LLP

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 standalone 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 Standalone Financial Results include the results for the current quarter and corresponding quarter ended of the previous year being the balancing figure between audited figures in respect of full financial year and the published unaudited year to date figures up to the third quarter of the current and previous financial year which were subject to limited review by us.

Our opinion on the standalone financial results is not modified in respect of the above matter.

For Lodha & Co. LLP
Firm Registration No. – 301051E/E300284
Chartered Accountants

Place: Mumbai
Date: April 23, 2026

R.P. Baradiya
Partner
Membership No. 044101
UDIN: 26044101OMOEIL 8398

---

HINDUSTAN COMPOSITES LIMITED

Regd. Office: A Tower, 8th Floor, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013 Tel: 022-66880100, Fax: 022-66880105 visit us at www.hindcompo.com CIN No. L29120MH1964PLC012955

HINDUSTAN COMPOSITES LIMITED

Statement of Audited Consolidated Financial Results for the quarter and year ended 31st March, 2026

Sr.No.	Particulars	(Rs. In Lakhs, except per share data)
		Three Months Ended 31-Mar-26 (Audited) *	Three Months Ended 31-Dec-25 (Unaudited)	Three Months Ended 31-Mar-25 (Audited) *	Year Ended 31-Mar-26 (Audited)	Year Ended 31-Mar-25 (Audited)
1	INCOME
	a) Revenue from operations	10,484	9,451	8,915	37,501	32,508
	b) Other Income	41	-	881	41	905
	Total Income	10,525	9,451	9,796	37,542	33,413
2	Expenses
	a) Cost of materials consumed	4,184	3,964	3,741	15,760	14,326
	b) Purchase of stock-in-trade	983	993	-	2,977	-
	c) Changes in Inventories of finished goods, work-in-progress and stock-in-trade	(344)	(298)	41	(879)	(30)
	d) Employee benefits expense	1,194	1,151	1,087	4,680	4,194
	e) Finance Costs	5	6	1	28	8
	f) Depreciation and amortization expense	317	299	259	1,198	1,033
	g) Other Expenses	2,834	2,158	2,423	9,418	8,136
	Total Expenses	9,173	8,273	7,552	33,182	27,667
3	Profit before exceptional items and tax (1-2)	1,352	1,178	2,244	4,360	5,746
4	Exceptional items (Refer note no. 2)	-	291	1,275	291	1,275
5	Profit before share of (loss) of joint venture (3-4)	1,352	887	969	4,069	4,471
6	Share of (loss) of joint venture #	-	-	-	-	-
7	Profit before tax (5-6)	1,352	887	969	4,069	4,471
8	Tax Expenses
	Current tax	433	433	34	1,362	901
	Deferred tax	(247)	(213)	328	(420)	70
	Tax expense of earlier year	(4)	-	-	(4)	-
	Net Profit for the Period (7-8)	1,170	667	607	3,111	3,500
10	Other Comprehensive Income (OCI)
	a) Items that will not be reclassified to profit or loss	(2,232)	1,703	(757)	4,327	7,677
	b) Income tax relating to items that will not be reclassified to profit or loss	316	(258)	96	(679)	(1,185)
	c) Items that will be reclassified to profit or loss	(544)	(108)	70	(451)	152
	d) Income tax relating to items that will be reclassified to profit or loss	80	16	(12)	67	(62)
	Other Comprehensive Income	(2,378)	1,353	(603)	3,264	6,582
	Total Comprehensive Income after Tax (9+10)	(1,208)	2,020	4	6,375	10,082
11	Paid-up Equity Share Capital (Face Value of Rs. 5 per share)	738	738	738	738	738
12	Other Equity				113,794	107,714
	Earnings per Share (Basis and Diluted) (Rs.)	7.92	4.52	4.11	21.06	23.70

Reporting of Segment wise Revenue, Result, Assets and Liabilities as on 31st March, 2026

Sr.No.	Particulars	(Rs. In Lakhs)
Three Months Ended 31-Mar-26 (Audited) *	Three Months Ended 31-Dec-25 (Unaudited)	Three Months Ended 31-Mar-25 (Audited) *
1	Segment Revenue
- Composite Products	8,679	8,138
- Investment	1,275	824
- Trading in Commodity	530	489
	Total income	10,484
2	Segment Results (Profit(+)/Loss (-) before Tax from each segment)
- Composite Products	1,275	1,039
- Investment	622	629
- Trading in Commodity	18	10
Sub Total	1,915	1,678
Less: Unallocable Expenses / (Income)
Unallocable Expenses	599	494
Loss of joint venture	-	-
Finance Cost	5	6
Exceptional Items (Refer note no. 2)	-	291
Other Income	(41)	-
Profit before Tax	1,352	887
3	a) Segment Assets
- Composite Products	12,763	11,688
- Investment	108,685	111,773
- Trading in Commodity	942	584
- Unallocable	4,054	3,991
Total	126,444	128,036
b) Segment Liabilities
- Composite Products	6,019	5,837
- Investment	4,268	4,791
- Trading in Commodity	34	16
- Unallocable	1,591	1,652
Total	11,912	12,296

MUMBAI-01

---

HINDUSTAN COMPOSITES LIMITED

Regd. Office: A Tower, 8th Floor, Peninsula Business Park,
Senapati Bapat Marg, Lower Parel, Mumbai - 400013
Tel: 022-66880100, Fax: 022-66880105
visit us at www.hindcompo.com
CIN No. L29120MH1964PLC012955

Consolidated Statement of Assets and Liabilities as at 31st March, 2026

Sr. No.	Particulars	(Rs. in Lakhs)
		As at 31-Mar-26 (Audited)	As at 31-Mar-25 (Audited)
I	ASSETS
(1)	NON-CURRENT ASSETS
(a)	Property, Plant and Equipment	14,425	13,295
(b)	Capital Work in Progress	-	423
(c)	Other Intangible assets	79	93
(d)	Intangible assets under development	-	6
(e)	Right of use - Lease	581	-
(f)	Financial Assets
(i)	Investments	97,205	91,679
(ii)	Loans	225	300
(iii)	Other Financial Assets	32	40
(g)	Other Non Current Assets	98	63
TOTAL NON-CURRENT ASSETS		112,645	105,899
(2)	CURRENT ASSETS
(a)	Inventories	2,090	1,151
(b)	Financial Assets
(i)	Investments	3,406	4,540
(ii)	Trade receivables	6,315	5,099
(iii)	Cash and cash equivalents	171	319
(iv)	Bank balances other than (iii) above	40	38
(v)	Loans	310	1,077
(vi)	Other financial assets	1,035	1,125
(c)	Other current assets	431	359
TOTAL CURRENT ASSETS		13,798	13,708
TOTAL ASSETS		126,443	119,607
II	EQUITY AND LIABILITIES
EQUITY
(a)	Equity Share Capital	738	738
(b)	Other Equity	113,794	107,714
TOTAL EQUITY		114,532	108,452
LIABILITIES
(1)	NON-CURRENT LIABILITIES
(a)	Financial Liabilities	-	-
(i)	Lease Liabilities	78	-
(b)	Provisions	375	291
(c)	Deferred tax liabilities (Net)	5,220	4,982
(d)	Other non-current liabilities	85	96
TOTAL NON-CURRENT LIABILITIES		5,758	6,369
(2)	CURRENT LIABILITIES
(a)	Financial Liabilities
(i)	Borrowings	-	3
(ii)	Lease Liabilities	90	-
(iii)	Trade payables
- Total Outstanding Dues of Micro and small enterprises		812	371
- Total Outstanding Dues of Creditors other than Micro and small enterprises		4,528	4,861
(iv) Other financial liabilities		101	83
(b) Other current liabilities		318	222
(c) Provisions		210	158
(d) Current tax liabilities (Net)		94	88
TOTAL CURRENT LIABILITIES		6,163	5,786
TOTAL EQUITY AND LIABILITIES		126,443	119,607

Notes:
1. The above Financial results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 23rd April, 2026. The statutory auditors of the Company have audited the financial result for the quarter and year ended 31st March, 2026 in terms of Regulations 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and have issued their reports with unmodified opinion. The Board of Directors of the Company has recommended the payment of dividend on equity shares of Rs.5/- each @ Rs. 2 per share for the year ended 31st March, 2026.
2. The Company has a Joint Venture namely Compo Advics (India) Pvt. Ltd. having 49% stake and the losses of Company's share in the Joint Venture Company has exceeded its investment value and therefore, in compliance with IND AS 28, the Company has discontinued recognizing its share of further losses in the consolidated results from the quarter ended June 30, 2021.
3. Exceptional item for the year ended March 31, 2026 pertains to the impact of New Labour Codes effective November 21, 2025, whereby the Government of India has consolidated multiple existing labour legislations into a unified framework comprising four Labour Codes collectively referred to as the 'New Labour Codes'. Under Ind AS 19, changes to employee benefit plans arising from this legislative change constitute to plan amendment, requiring recognition of past service cost immediately in the statement of profit and loss.
The New Labour Codes has resulted in estimated increase in provision for employee benefits of the Company arising out of past service cost amounting to Rs. 291 lakhs and the same has been recognized as an exceptional item in the current year. The Government of India is in the process of notifying related rules into the New Labour Codes and impact of these will be evaluated and accounted for in accordance with applicable accounting standards in the period in which they are notified.
4. * The figures for the current quarter and corresponding quarter of the previous year are the balancing figures between the audited figures for the full financial year and unaudited published year to date figures up to the third quarter.
5. Previous periods' figures have been rearranged / regrouped wherever considered necessary to conform to the presentation of the current period. All figures of financial results have been rounded off to nearest lakhs rupees.

Place : Mumbai
Dated : 23rd April, 2026

MUMBAI-01
For Hindustan Composites Limited
P. K. CHOUCHARY
Managing Director
(DIN No 00535670)

---

HINDUSTAN COMPOSITES LIMITED

HINDUSTAN COMPOSITES LIMITED

Regd. Office: A Tower, 8th Floor, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013

Tel: 022-66880100, Fax: 022-66880105

visit us at www.hindcompo.com

CIN No. L29120MH1964PLC012955

Consolidated Statement of Cash Flow for the year ended 31st March, 2026

| Sr.
No. | Particulars | (Rs. in Lakhs) |
| --- | --- | --- |
| Year Ended
31-Mar-26
(Audited) | Year Ended
31-Mar-25
(Audited) |
| A | Cash flow from operating activities: | | |
| Net profit before tax | 4,069 | 4,471 |
| Adjustment to reconcile profit before tax to net cash flows | | |
| Depreciation and amortization expense | 1,198 | 1,033 |
| Fair valuation of investments through profit and loss | 856 | (192) |
| Realised (gain) / loss on investments through profit and loss | (889) | (47) |
| Interest income | (3,739) | (3,648) |
| Dividend income | (190) | (194) |
| (Profit) / Loss on Sale/decard of Property, Plant and Equipment (Net) | 11 | (528) |
| Remeasurements of defined benefit plans | (6) | (80) |
| Interest expenditure | 28 | 8 |
| Operating profit before working capital changes | 1,338 | 823 |
| Adjustment for | | |
| (Increase)/Decrease in trade receivable | (1,217) | (1,400) |
| (Increase)/Decrease in Other Financial Assets | 9 | 10 |
| (Increase)/Decrease in Other Non Current Assets | (35) | (11) |
| (Increase)/Decrease in other receivable | (10) | 52 |
| (Increase)/Decrease in Inventories | (939) | 277 |
| (Increase)/Decrease in Other Current Financial Assets | (125) | 6 |
| (Increase)/Decrease in Other Current Assets | (72) | 18 |
| (Decrease)/Increase in trade payables | 108 | 567 |
| (Decrease)/Increase in long term provisions | 85 | 36 |
| (Decrease)/Increase in short term provisions | 52 | (22) |
| (Decrease)/Increase in other current financial liabilities | 17 | 18 |
| (Decrease)/Increase in other current liabilities | 97 | 76 |
| (Decrease)/Increase in other non current liabilities | (11) | (13) |
| Cash generated from/(used in) operations | (703) | 437 |
| Add/(Deduct): | | |
| Dividend Received | 190 | 194 |
| Interest Received | 3,953 | 3,506 |
| Net cash generated from operating activities before taxes paid | 3,440 | 4,137 |
| Direct taxes paid (net) | (1,327) | (1,151) |
| Net cash generated from operating activities | 2,113 | 2,986 |
| B | Cash flow from investing activities | | |
| Purchase of Property, Plant and Equipment | (2,227) | (2,069) |
| Proceeds on sale of Property, Plant and Equipment | 2 | 1,498 |
| Purchase of Investments | (22,119) | (14,059) |
| Proceeds on sale of Investments | 20,543 | 13,839 |
| Inter-Corporate Deposits Placed | (400) | (1,180) |
| Inter-Corporate Deposits Refunded | 1,250 | 180 |
| Net cash generated from/(used in) investing activities | (2,951) | (1,791) |
| C | Cash flow from financing activities | | |
| (Repayment) / Proceeds of long-term borrowings | - | (3) |
| (Repayment) / Proceeds of short-term borrowings | (3) | (6) |
| Repayment of lease liabilities | (84) | - |
| Dividend Paid | (295) | (295) |
| Interest paid | (28) | (8) |
| Net Cash generated from/(used in) financing activities | (410) | (312) |
| D | Net Increase/ Decrease in cash and cash equivalent (A+B+C) | (1,248) | 883 |
| Cash and Cash equivalents as at beginning of the year | 1,659 | 776 |
| Cash and Cash equivalents as at end of the year (includes Rs.240 lakhs (Previous year Rs. 1,340 lakhs) investment in liquid mutual funds) | 411 | 1,688 |

SANTA & CO LLP

MUMBAI-01

---

LODHA & CO LLP
Chartered Accountants
6, Karim Chambers, 40, Ambalal Doshi Marg
(Hamam Street), Fort, Mumbai-400 001
Telephone : 0091-22-22691414/40021415
: 0091-22-40021140/40021414
Email : mumbai@lodhaco.com

INDEPENDENT AUDITOR'S REPORT

To
The Board of Directors of Hindustan Composites Limited (Holding Company)

Report on the Audit of the Consolidated Financial Results

We have audited the accompanying consolidated quarterly financial results of Hindustan Composites Limited (hereinafter referred to as the “Holding Company”) and its Joint Venture (the Holding Company and its Joint Venture together referred to as “the Group”) for the quarter and year ended March 31, 2026, attached herewith (Refer “Other Matters” section below), 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 (‘Listing Regulations’).

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of the other auditors on separate audited financial statements/financial results/ financial information of the Joint venture, the aforesaid consolidated financial results:

a. include the annual financial results of the Compo Advics Private (India) Limited (Joint Venture in which 49% of the stake is held by the Holding Company) (Refer note 2 to the consolidated financial results);
b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard and
c. give a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information of the Group for the quarter and year ended March 31, 2026.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor’s 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 (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 Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their report referred to in “Other Matter” paragraph below is sufficient and appropriate to provide a basis for our audit opinion.

Management’s Responsibilities for the Consolidated Financial Results

These consolidated financial results have been prepared on the basis of the consolidated annual financial statements for the year ended March 31, 2026. The Holding Company’s Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group in accordance with 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 Regulation 33 of the Listing 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 of 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 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 consolidated 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 these consolidated financial results by the Directors of the Holding Company, as aforesaid.

Regd. Office : 19, Esplanade Mansions, 14 Government Place East, Kolkata 700069, West Bengal, India. Lodha & Co (Registration No. 301051E) a Partnership Firm was converted into Lodha & Co LLP (Registration No. 301051E/E300284) a Limited Liability Partnership having Identification No. : ACE-5752 with effect from December 27, 2023
Kolkata Mumbai New Delhi Chennai Hyderabad Jaipur
MUMBAI-01

---

LODHA & CO LLP

In preparing the consolidated financial results, the respective Board of Directors of the Companies included in the Group are responsible for assessing the ability of the 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 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 consolidated financial results as a whole are 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 these consolidated financial results.

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

• Identify and assess the risks of material misstatement of the consolidated financial results, 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 control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• 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 consolidated financial results 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 consolidated financial results, including the disclosures, and whether the consolidated financial results 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 in the Group to express an opinion on the consolidated financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion

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

MUMBAI-01

---

LODHA & CO LLP

Consolidated 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 consolidated financial results 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 have performed the procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended, to the extent applicable.

Other Matters:

(i) The financial statements of the joint venture included in the consolidated financial results, whose losses have exceeded the Group's investments and therefore, have not been considered in the consolidated financial results in compliance with IND AS 28 -Refer note 2 to the audited consolidated financial results.
(ii) The Consolidated Financial Results include the results for the current quarter and corresponding quarter ended of previous year being the balancing figure between audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

Our opinion on the consolidated financial results is not modified in respect of the above matters.

For Lodha & Co. LLP
Firm Registration No. 301051E/E300284
Chartered Accountants

Place: Mumbai
Date: April 23, 2026

R.P. Baradiya
Partner
Membership No. 044101
UDIN: 26044101YWJ55U7290

---

HINDUSTAN COMPOSITES LIMITED

HINDUSTAN COMPOSITES LTD.

Peninsula Business Park, Tower A, 8th Floor,

Senapati Bapat Marg, Lower Parel, Mumbai - 400 013.

Tel.:(91) (22) 6688 0100

Email: hcl@hindcompo.com Website: www.hindcompo.com

CIN No. L29120MH1964PLC012955

DECLARATION ON AUDITED FINANCIAL RESULTS

[Pursuant to the second proviso to Regulation 33(3)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015]

Pursuant to the second proviso to Regulation 33(3)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that the Statutory Auditors of the Company, M/s. Lodha & Company LLP, Chartered Accountants, Mumbai (FRN: 301051E/E300284) have issued the Auditors' Reports with unmodified opinion on the Audited Standalone and Consolidated Financial Results of the Company for the financial year ended 31st March, 2026, which have been approved at the Board meeting held today i.e. 23rd April, 2026.

For Hindustan Composites Limited

P. K. Choudhary
Managing Director
DIN: 00535670

Sunil Jindal
Chief Financial Officer

Place: Mumbai
Date: 23rd April, 2026

Regional Offices - MUMBAI * NEW DELHI * KOLKATA * CHENNAI