Indokem Ltd — Interim / Quarterly Report 2026

May 4, 2026

Page 1 of 2

Indokem Limited

(CIN: L31300MH1964PLC013088)

Registered Office:
“KHATAU HOUSE,” Ground Floor
Mogul Lane, Mahim (West),
Mumbai - 400 016.

Phone: 022-61236767
Fax: 022-61236718
E-mail: iklsecretarial@gmail.com
Website: www.indokem.co.in

4th May, 2026

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

Scrip Code: 504092

Subject: Outcome of Board Meeting held on Monday, 4th May, 2026

Respected Sir/Madam,

Pursuant to Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), this is to inform you that the Board of Directors of the Company in its Meeting held today i.e. on Monday, 4th May, 2026, has inter alia approved:

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

Pursuant to Regulation 33 of the Listing Regulations, the Board has considered and approved the Standalone and Consolidated Audited Financial Results of the Company for the quarter and financial year ended 31st March, 2026, along with the Audit Report issued by M/s. CNK & Associates LLP, Chartered Accountants, Mumbai, Statutory Auditors of the Company. A copy of the same is enclosed herewith.

We further confirm that the Statutory Auditors have issued the Audit Reports with an unmodified opinion.

1. Noting of Annual Secretarial Compliance Report and Secretarial Audit Report:

The Board noted the Annual Secretarial Compliance Report and the Secretarial Audit Report for the financial year 2026-27, received from M/s. Mayur More & Associates, Company Secretaries.

1. Re-appointment of Mr. Mukund Nagpurkar as Internal Auditor for FY 2026-27

The Board approved the re-appointment of Mr. Mukund Nagpurkar as an Internal Auditor of the Company for the financial year 2026-27.

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Page 2 of 2

Indokem Limited

(CIN: L31300MH1964PLC013088)

Registered Office:
“KHATAU HOUSE,” Ground Floor
Mogul Lane, Mahim (West),
Mumbai - 400 016.

Phone: 022-61236767
Fax: 022-61236718
E-mail: iklsecretarial@gmail.com
Website: www.indokem.co.in

4. Adoption of Revised Nomination and Remuneration Policy

The Board reviewed and adopted the revised Nomination and Remuneration Policy to align with updated regulatory requirements.

5. Re-appointment of Mr. Arupkumar Basu as Managing director for a term of 3 years

The Board, on the recommendation of the Nomination and Remuneration Committee, re-appointed Mr. Arupkumar Basu (DIN: 00906760) as Managing Director of the Company for a term of three consecutive years from 29th September, 2026 to 28th September, 2029 (both days inclusive), subject to approval of the Members at the forthcoming Annual General Meeting.

6. Re-appointment of Mr. Manish M. Khatau as Whole-time Director for a term of 3 years

The Board, on the recommendation of the Nomination and Remuneration Committee, reappointed Mr. Manish M. Khatau (DIN: 02952828) as Whole-time Director of the Company for a term of three consecutive years from 1st March, 2027 to 28th February, 2030 (both days inclusive), subject to approval of the Members at the forthcoming Annual General Meeting.

The above-mentioned policies and this outcome of the Board Meeting are also being uploaded on the Company’s website at https://www.indokem.co.in

Commencement of Board Meeting: 03:00 P.M.
Conclusion of Board Meeting: 04:35 P.M.

The above is for your information and record.

Thanking you,

Yours faithfully,

For Indokem Limited

RAJESH
DINKAR
PISAL

Digitally signed by
RAJESH DINKAR
PISAL
Date:2026.05.04
16:38:35 +05'30'

Rajesh D. Pisal
Company Secretary and Compliance Officer
Encl: a/a

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CNK & Associates LLP
Chartered Accountants

Independent Auditor's Report on Audited Standalone Quarterly Financial Results and Year to Date Results of the Indokem Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

TO THE BOARD OF DIRECTORS OF INDOKEM LIMITED

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying standalone financial results of Indokem Limited (the company) for 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 Securities and Exchange Board of India (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 Listing Regulations in this regard; and
ii. Give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian accounting standards (“Ind AS”) 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 31st March, 2026.

Basis of Opinion

We conducted our audit in accordance with the Standards on Auditing (“Sas”) specified under section 143(10) of the Companies Act, 2013, as amended (“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 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 opinion.

Management’s and Board of Directors’ Responsibilities for the Standalone Financial Results

These standalone financial results have been prepared on the basis of the standalone annual financial statements. The Company’s Management and Board of Directors are responsible for the preparation and presentation 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 recognition and measurement principles laid down in Indian Accounting

The Nirat, 3rd Floor, 18, Winward Business Park, Behind Emerald One Complex, In the lane of Dr. Prasad, Jetalpur, Vadodara 390 007. Tel: +91 265 234 3483
Website: www.cnkindia.com
VADODARA | MUMBAI | CHENNAI | AHMEDABAD | GIFT CITY | GURGOON | KOLKATA | BENGALURU | DELHI | PUNE | DUBAI | ABU DHABI

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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 standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Management and 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 standalone 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. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to standalone financial statements in place and the operating effectiveness of such controls.

MUMBAI

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• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Management and the Board of directors in terms of requirement specified under Regulation 33 of the listing Regulations;

• Conclude on the appropriateness of the Management and 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.

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 Statement includes the results for the quarter ended 31st March, 2026 being the balancing figures between the audited figures in respect of full financial year ended 31st March, 2026 and the published unaudited 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 Listing Regulations.

Our opinion is not modified in respect of above matter.

For CNK & Associates LLP
Chartered Accountants
Firm Registration No. 101961W/W-100036

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INDOKEM LIMITED

CIN NO.: L31300MH1964PLC013088

Registered Office: Khatau House, Plot No. 410, Mogul Lane, Mahim, Mumbai 400 016.

Tel No.: +91-22-61236767/61236711 Email: iklaecretarial@gmail.com Website: www.indokem.co.in

STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026

Rs. in lakhs

Sr. No.	Particulars	Quarter ended			Year ended
		March 31, 2026
(Audited)	December 31, 2025
(Unaudited)	March 31, 2025
(Audited)	March 31, 2026
(Audited)	March 31, 2025
(Audited)
1	INCOME
a)	Income from operations	4,005	3,676	4,815	14,804	15,365
b)	Other Income	75	132	2	324	65
	Total income from operations	4,080	3,808	4,817	15,128	15,430
2	Expenses
a)	Cost of materials consumed	2,838	2,360	3,418	10,106	10,931
b)	Purchase of stock in trade	70	59	92	492	572
c)	Changes in inventories of finished goods, work-in-process and stock in trade	(49)	159	(54)	(91)	(356)
d)	Employee benefits expense	486	458	396	1,782	1,602
e)	Finance cost	74	124	65	337	272
f)	Depreciation and amortisation expense	55	54	51	214	207
g)	Other Expenditure	578	508	518	2,075	2,111
	Total expenses	4,052	3,722	4,486	14,915	15,339
3	Profit / (Loss) before tax (1) - (2)	28	86	331	213	91
4	Tax expenses:
	Current tax	-	-	-	-	-
	Excess / short provision for earlier years	-	-	-	-	(1)
5	Profit / (Loss) for the period (3) - (4)	28	86	331	213	92
6	Other comprehensive income / (loss) net of tax
	Items that will not be reclassified subsequently to profit and loss account
	(i) Remeasurement of Defined benefit plans	11	(3)	10	1	(14)
7	Total comprehensive income / (loss) net of tax (5) + (6)	39	83	341	214	78
8	Paid-up equity share capital (face value of Rs. 10/- each)	2,789	2,789	2,789	2,789	2,789
9	Other Equity (Excluding Revaluation Reserve)				983	539
	Total Earnings per share
(a)	Basic (in Rs.)	0.10	0.31	1.19	0.77	0.33
(b)	Diluted (in Rs.)	0.10	0.31	1.19	0.77	0.33

NOTES:

1. The above standalone financial results were audited by the Statutory Auditors, recommended by Audit Committee and approved by the Board of Directors at the meeting held on May 04, 2026.

2. The Government of India has notified the implementation of four new Labour Codes effective 21st November, 2025, by consolidating and rationalizing 29 existing labour laws. The Company has estimated the financial implications thereof and has taken additional charge of Rs. 90.39 lakhs in the financial results for the year ended on 31st March, 2026.

3. The Company operates in two segments, viz. textile dyes and chemicals and electrical capacitors. However the segment reporting for electrical capacitors is not disclosed separately, as the same does not qualify for separate disclosure as per Ind-AS 108 on operating segments.

4. The figures for the quarter ended 31st March, 2026 and corresponding quarter ended 31st March, 2025 are the balancing figures between the audited figures in respect of full financial year and year to date figures up to third quarter of the respective financial years which were subject to limited review.

5. The figures of the previous period(s) / year have been regrouped / reclassified wherever necessary.

Place: Mumbai
Date: May 04, 2026

For Indokem Limited

Mahendra K. Khatau
Chairman and Managing Director
DIN: 00062794

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INDOKEM LIMITED

CIN NO.: L31300MH1964PLC013088

Registered Office: Plot No. 410/411, Khatau House, Mogul Lane, Mahim, Mumbai 400 016.

Tel No.: +91-22-61236767/61236711 Email: iklsccrectorial@gmail.com Website: www.indokem.co.in

STANDALONE STATEMENT OF ASSET AND LIABILITIES AS AT MARCH 31, 2026

Rs. in lakhs

| Particulars | March 31, 2026
Audited | March 31, 2025
Audited |
| --- | --- | --- |
| ASSETS | | |
| Non-current Assets | | |
| Property, plant and equipment | 5,746 | 6,319 |
| Capital work-in-progress | 27 | 12 |
| Goodwill | 71 | 71 |
| Intangible assets | 2 | 4 |
| Financial assets | | |
| Investments | 96 | 96 |
| Loans | 1 | - |
| Other financial assets | 77 | 60 |
| Income tax assets (net) | 14 | 19 |
| Other non-current assets | 52 | 56 |
| Total Non-current Assets | 6,086 | 6,637 |
| Current Assets | | |
| Inventories | 3,146 | 2,781 |
| Financial assets | | |
| Investments | 62 | - |
| Trade receivables | 3,574 | 3,120 |
| Cash and cash equivalents | 128 | 46 |
| Bank balance other than cash and cash equivalents | 54 | 35 |
| Loans | 43 | 36 |
| Other financial assets | 60 | 47 |
| Other current assets | 265 | 319 |
| Total Current Assets | 7,332 | 6,384 |
| Total Assets | 13,418 | 13,021 |
| EQUITY AND LIABILITIES | | |
| Equity | | |
| Equity share capital | 2,789 | 2,789 |
| Other equity | 2,742 | 2,529 |
| Total Equity | 5,531 | 5,318 |
| LIABILITIES | | |
| Non-current Liabilities | | |
| Financial liabilities | | |
| Borrowings | 2,472 | 1,192 |
| Other financial liabilities | 300 | 276 |
| Provisions | 350 | 290 |
| Total Non-current Liabilities | 3,122 | 1,758 |
| Current Liabilities | | |
| Financial liabilities | | |
| Borrowings | 210 | 1,020 |
| Trade payables | | |
| (i) Total outstanding dues of Micro and Small Enterprises | 203 | 22 |
| (ii) Total outstanding dues other than Micro and Small Enterprises | 3,433 | 4,168 |
| Other financial liabilities | 84 | 15 |
| Provisions | 147 | 150 |
| Other current liabilities | 688 | 570 |
| Total Current Liabilities | 4,765 | 5,945 |
| Total Liabilities | 7,887 | 7,703 |
| Total Equity and Liabilities | 13,418 | 13,021 |

Place: Mumbai
Date: May 04, 2026

For Indokem Limited

Mahendra K. Khatau
Chairman and Managing Director
DIN: 00062794

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INDOKEM LIMITED
CIN NO.: L31300MHI964PLC013088
Registered Office: Plot No. 410/411, Khatau House, Mogul Lane, Mahim, Mumbai 400 016.
Tel No.: +91-22-61236767/61236711 Email: iklsccretarial@gmail.com Website: www.indokem.co.in
STATEMENT OF STANDALONE CASH FLOW FOR THE YEAR ENDED MARCH 31, 2026
Rs. in lakhs

| Particulars | Year Ended
March 31, 2026
Audited | Year ended
March 31, 2025
Audited |
| --- | --- | --- |
| A. CASH FLOW FROM OPERATING ACTIVITIES | | |
| Profit/ (loss) before tax | 213 | 91 |
| Adjustments for : | | |
| Depreciation | 214 | 207 |
| Finance costs | 337 | 272 |
| Interest income | (15) | (3) |
| Allowances for credit losses | 33 | (6) |
| Bad debts w/off | 1 | 2 |
| Provision no longer required | - | (2) |
| Loss on fair valuation of investments through profit and loss | 7 | - |
| Gain on sale of Property, Plant and Equipment | (50) | - |
| Sundry balances off/(written back) | (186) | (15) |
| Unrealised exchange rate difference (net) | 8 | 26 |
| Operating profit before working capital changes | 562 | 572 |
| Changes in working capital: | | |
| (Increase)/ decrease in inventories | (365) | (494) |
| (Increase)/ decrease in trade receivables | (419) | (622) |
| (Increase)/ decrease in loans and advances | (6) | 4 |
| (Increase)/ decrease in other financial assets | (31) | (7) |
| (Increase)/ decrease in other assets | 57 | (195) |
| Increase/ (decrease) in trade payables | (550) | 1,297 |
| Increase/ (decrease) in other financial liabilities | 203 | 7 |
| Increase/ (decrease) in other liabilities | 118 | (182) |
| Increase/ (decrease) in Provisions | 58 | 24 |
| Cash generated from operations | (373) | 403 |
| Income taxes refunded/ (paid), net | 5 | (1) |
| Net cash (used in)/ generated from operating activities | (368) | 402 |
| B. CASH FLOW FROM INVESTING ACTIVITIES | | |
| Expenditure on property, plant and equipment and capital advances | (257) | (79) |
| Proceeds from sale of property, plant and equipment | 647 | - |
| Investment in subsidiary | - | (0) |
| Purchase of Current Investments | (69) | - |
| Redemption/ (investments in fixed deposits) | (19) | 1 |
| Interest received | 15 | 2 |
| Net cash (used in)/ generated from investing activities | 317 | (76) |
| C. CASH FLOW FROM FINANCING ACTIVITIES | | |
| Proceeds from loans taken from banks and financial institutions | 2,014 | 169 |
| Repayment of loans taken from banks and financial institutions | (1,355) | (279) |
| Unsecured loans taken from directors | 162 | 121 |
| Unsecured loans repaid to directors | (376) | (41) |
| Repayment of loans to company | (25) | (12) |
| Loan taken from company | 48 | 14 |
| Finance costs paid | (335) | (274) |
| Net cash (used in)/ generated from financing activities | 133 | (302) |
| NET CASH (USED IN)/ GENERATED FROM CONTINUING OPERATIONS | 82 | 24 |
| INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS | 82 | 24 |
| Cash and cash equivalents at the beginning of the year | 46 | 22 |
| Cash and cash equivalents at the end of the year | 128 | 46 |

Notes :
1. The above cash flow statement has been prepared under the "Indirect Method" set out in Indian Accounting Standard (Ind As-7) on statement of Cash Flow as notified under Companies (Accounts) Rule 2015.

Place : Mumbai
Date : May 04, 2026

MUMBAI CNE
For Indokem Limited
Khatau
Chairman & Managing Director
DIN: 00062794

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CNK & Associates LLP
Chartered Accountants

Independent Auditor's Report on Audited Consolidated Quarterly Financial Results and Year to Date Results of the Indokem Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

TO THE BOARD OF DIRECTORS OF INDOKEM LIMITED

Report on the Audit of Consolidated Financial Results

Opinion

We have audited the accompanying Statement of consolidated financial results of Indokem Limited (“the Holding company”) and its subsidiaries (the Holding company and its subsidiaries together referred to as the Group”) for the quarter ended 31st March, 2026 and year to date from 1st April, 2025 to 31st March, 2026 (“the Statement”) attached herewith, being submitted by the Holding company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, as amended (the “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 reports of other auditors on separate audited financial statements /financial results/ financial information of the subsidiary, the aforesaid consolidated financial results:

a. includes results of the following entity:

(i) Indokem Bangladesh (Pvt.) Limited (Subsidiary company)
(ii) Refnol Overseas Limited (Subsidiary company)
(iii) Tex Care Middle East LLC (Step-down subsidiary company)

b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard;

c. give a true and fair view in conformity with applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive income and other financial information of the Group for the year ended 31st March, 2026.

Basis of Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended (“Act”). Our responsibilities under those SAs 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 together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 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 reports referred to in "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

The Nirat, 3rd Floor, 18, Winward Business Park, Behind Emerald One Complex, In the lane of Dr. Prasant Buch’s Hospital, Jeralpur, Vadodara 390 007. Tel: +91 265 234 3483
Website: www.cnkindia.com
VADODARA | MUMBAI | CHENNAI | AHMEDABAD | GIFT CITY | GURGOON | KOLKATA | BENGALURU | DELHI | PUNE | DUBAI | ABU DHABI

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Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial Results

These consolidated financial results have been prepared on the basis of the consolidated financial statements. The Holding Company's Management and Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the consolidated net profit and other comprehensive income and other financial information of the Group in accordance with 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. The respective Management and 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 the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring 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 the consolidated financial results by the Management and Directors of the Holding Company, as aforesaid.

In preparing the consolidated financial results, the respective Management and 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. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statement on whether group which

MUMBAI

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are companies incorporated in India, has adequate internal financial controls with reference to consolidated 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 management and 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 Group to express an opinion on 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.

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 also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Other Matters

a) We did not audit the financial results of 1 subsidiary included in the consolidated audited financial results, whose financial results reflects (before consolidated adjustments) total assets of Rs. 1,629.94 lakhs as on March 31, 2026, total revenues of Rs. 622.49 lakhs and Rs 2,544.88 lakhs for the quarter and year ended March 31, 2026 respectively, total net Profit/(loss) after tax of Rs. 10.08 lakh and Rs. (20.85) lakh for the quarter and year ended March 31, 2026 respectively, total comprehensive income/(loss) of Rs. 10.08 lakh and Rs. (20.85) lakh for the quarter and year ended March 31, 2026 respectively and net cash Outflow of Rs. 91.26 lakhs for the year ended on March 31, 2026 as considered in the consolidated audited financial results. These financial results have been audited by other auditor whose financial statements, other financial information and auditor's report have been furnished to us by the management and our opinion on the

MUMBAI

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consolidated financial results, in so far as it relates to the amount and disclosures included in respect of these entities, is based solely on the report of such other auditors.

b) The accompanying consolidated financial results includes unaudited financial results/statements of Two subsidiaries which have not been audited by us whose financial results reflect total assets (before consolidated adjustments) of Rs. 317.76 lakhs as on March 31, 2026, total revenue of Rs. 3.76 lakh and Rs. 22.96 lakh for the quarter and year ended March 31, 2026 respectively, total net loss after tax of Rs. 3.12 lakh and Rs. 5.97 lakh for the quarter and year ended March 31, 2026 respectively, total comprehensive Loss of Rs. 3.12 lakh and Rs. 5.97 lakh for the quarter and year ended March 31, 2026 respectively, and net cash outflow of Rs. 5.21 lakhs for the year ended on March 31, 2026 as considered in the consolidated financial results. These unaudited financial statements/ financial information/ financial results have been approved and furnished to us by the Management and our opinion on the consolidated financial results of the Company, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on such unaudited financial statements/ financial information/financial results.

Our opinion on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors in Para a) and the unaudited financial results/financial information/financial Statements certified by the Management as referred in Para b) above.

c) The Consolidated Financial Results includes the results for the quarter ended 31st March, 2026 being the balancing figure between the 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 Statement is not modified in respect of this matter.

For CNK & Associates LLP
Chartered Accountants
Firm Registration No. 101961W/W-100036

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INDOKEM LIMITED

CIN NO.: L31500MH1964PLC013088

Registered Office: Khatau House, Plot No. 410, Mogul Lane, Mahim, Mumbai 400 016.

Tel No.: +91-22-61236767/61236711 Email: iklsecretarial@gmail.com Website: www.indokem.co.in

STATEMENT OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE

QUARTER AND YEAR ENDED MARCH 31, 2026

Rs. in lakhs

Sr. No.	Particulars	Quarter ended			Year ended
		March 31, 2026
(Audited)	December 31, 2025
(Unaudited)	March 31, 2025
(Audited)	March 31, 2026
(Audited)	March 31, 2025
(Audited)
1	INCOME
a)	Income from operations	4,550	4,202	5,443	16,939	17,809
b)	Other Income	27	208	2	306	72
	Total income from operations	4,577	4,410	5,445	17,245	17,881
2	Expenses
a)	Cost of materials consumed	3,085	2,522	3,697	10,930	11,963
b)	Purchase of stock in trade	70	59	92	492	572
c)	Changes in inventories of finished goods, work-in-process and stock in trade	(67)	164	(45)	(110)	(343)
d)	Employee benefits expense	592	554	499	2,175	1,971
e)	Finance cost	76	126	69	347	283
f)	Depreciation and amortisation expense	61	60	56	234	225
g)	Other Expenditure	709	885	679	2,973	2,881
	Total expenses	4,526	4,370	5,047	17,041	17,552
3	Profit / (Loss) before tax (1) - (2)	51	40	398	204	329
4	Tax expenses:
	Current tax*	18	0	0	19	-
	Excess / short provision for earlier years*	(1)	0	17	-	15
5	Profit / (Loss) for the period (3) - (4)	34	40	381	185	314
6	Other comprehensive income / (loss) net of tax
	(a) Items that will not be reclassified subsequently to profit and loss account
	(i) Remeasurement of Defined benefit plans	11	(3)	10	1	(14)
	(b) Items that will be reclassified subsequently to profit and loss account
	(ii) Exchange Difference on translation of foreign operations	(4)	(1)	13	(8)	(2)
7	Total comprehensive income / (loss) net of tax (5) + (6)	41	36	404	178	298
	Net Profit / (loss) attributable to:
	Owners of the company	35	41	381	187	317
	Non - Controlling Interest	(1)	(1)	-	(2)	(3)
	Other comprehensive income / (loss) net of tax
	Owners of the company	7	(4)	23	(7)	(16)
	Non - Controlling Interest	-	-	-	-	-
	Total comprehensive income / (loss) net of tax
	Owners of the company	42	37	404	180	301
	Non - Controlling Interest	(1)	(1)	-	(2)	(3)
8	Paid-up equity share capital (face value of Rs. 10/- each)	2,789	2,789	2,789	2,789	2,789
9	Other Equity (Excluding Revaluation Reserves)				1,900	1,404
10	Earnings per share (EPS) (not annualised)
	Total Earnings per share
(a)	Basic (in Rs.)	0.13	0.15	1.36	0.67	1.13
(b)	Diluted (in Rs.)	0.13	0.15	1.36	0.67	1.13
	* Amount is below the rounding off norms adopted by the group.

NOTES:

1. The above consolidated financial results were audited by the Statutory Auditors, recommended by Audit Committee and approved by the Board of Directors at the meeting held on May 04, 2026.

2. The Government of India has notified the implementation of four new Labour Codes effective 21st November, 2025, by consolidating and rationalising 29 existing labour laws. The Company has estimated the financial implications thereof and has taken additional charge of Rs. 90.39 lakhs in the financial results for the year ended on 31st March, 2026.

3. The Group operates in two segments, viz. textile dyes and chemicals and electrical capacitors. However the segment reporting for electrical capacitors is not disclosed separately, as the same does not qualify for separate disclosure as per Ind-AS 108 on operating segments.

4. The figures for the quarter ended 31st March, 2026 and corresponding quarter ended 31st March, 2025 are the balancing figures between the audited figures in respect of full financial year and year to date figures upto third quarter of the respective financial years which were subject to limited review.

5. The figures of the previous period(s) / year have been regrouped / reclassified wherever necessary.

Place: Mumbai
Date: May 04, 2026

Chairman and Managing Director
DIN: 00062794

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INDOKEM LIMITED

CIN NO.: L31300MH1964PLC013088

Registered Office: Plot No. 410/411, Khatau House, Mogul Lane, Mahim, Mumbai 400 016.

Tel No.: +91-22-61236767/61236711 Email: iklsccretarial@gmail.com Website: www.indokem.co.in

CONSOLIDATED STATEMENT OF ASSET AND LIABILITIES AS AT MARCH 31, 2026

Rs. in lakhs

| Particulars | March 31, 2026
Audited | March 31, 2025
Audited |
| --- | --- | --- |
| ASSETS | | |
| Non-current Assets | | |
| Property, plant and equipment | 5,846 | 6,385 |
| Capital work-in-progress | 27 | 12 |
| Goodwill | 71 | 71 |
| Intangible assets | 2 | 4 |
| Financial assets | | |
| Investments | 1 | 1 |
| Loans | 1 | - |
| Other financial assets | 77 | 60 |
| Income tax assets (net) | 14 | 19 |
| Other non-current assets | 52 | 79 |
| Total Non-current Assets | 6,091 | 6,631 |
| Current Assets | | |
| Inventories | 3,329 | 2,909 |
| Financial assets | | |
| Investments | 62 | - |
| Trade receivables | 4,269 | 3,805 |
| Cash and cash equivalents | 287 | 302 |
| Bank balance other than cash and cash equivalents | 54 | 35 |
| Loans | 2 | 0 |
| Other financial assets | 86 | 71 |
| Other current assets | 321 | 334 |
| Total Current Assets | 8,410 | 7,456 |
| Total Assets | 14,501 | 14,087 |
| EQUITY AND LIABILITIES | | |
| Equity | | |
| Equity share capital | 2,789 | 2,789 |
| Other equity | 3,659 | 3,394 |
| Minority Interest | 3 | 1 |
| Total Equity | 6,451 | 6,184 |
| LIABILITIES | | |
| Non-current Liabilities | | |
| Financial liabilities | | |
| Borrowings | 2,472 | 1,192 |
| Other financial liabilities | 300 | 276 |
| Provisions | 542 | 458 |
| Total Non-current Liabilities | 3,314 | 1,926 |
| Current Liabilities | | |
| Financial liabilities | | |
| Borrowings | 210 | 1,020 |
| Trade payables | | |
| (i) Total outstanding dues of Micro and Small Enterprises | 203 | 22 |
| (ii) Total outstanding dues other than Micro and Small Enterprises | 3,511 | 4,068 |
| Other financial liabilities | 84 | 15 |
| Provisions | 324 | 274 |
| Other current liabilities | 404 | 578 |
| Total Current Liabilities | 4,736 | 5,977 |
| Total Liabilities | 8,050 | 7,903 |
| Total Equity and Liabilities | 14,501 | 14,087 |

Place: Mumbai
Date: May 04, 2026

For Indokem Limited

Mahendra K. Khatau
Chairman & Managing Director
DIN: 00062794

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INDOKEM LIMITED
CIN NO.: L31300MH1964PLC013088
Registered Office: Plot No. 410/411, Khatau House, Mogul Lane, Mahim, Mumbai 400 016.
Tel No.: +91-22-61236767/61236711 Email: iklsecretarial@gmail.com Website: www.indokem.co.in
STATEMENT OF CONSOLIDATED CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2026
Rs. in lakhs

Particulars	Year ended March 31, 2026 Audited	Year ended March 31, 2025 Audited
A. CASH FLOW FROM OPERATING ACTIVITIES
Profit/ (loss) before tax	204	329
Adjustments for :
Depreciation	234	225
Finance costs	347	283
Interest income	(13)	(2)
Allowances for credit losses	33	(6)
Bad debts w/off	41	43
Provision no longer required	0	(2)
Loss on fair valuation of investments through profit and loss	7	-
Gain on sale of Property, Plant and Equipment	(73)	-
Profit on sale of Current/Non Current Investment (net)	-	(3)
Sundry balances off/(written back)	(138)	(15)
Unrealised exchange rate difference (net)	11	18
Operating profit before working capital changes	653	869
Changes in working capital:
(Increase)/ decrease in inventories	(420)	(464)
(Increase)/ decrease in trade receivables	(396)	(836)
(Increase)/ decrease in loans and advances	(3)	2
(Increase)/ decrease in other financial assets	(32)	(8)
(Increase)/ decrease in other assets	40	(109)
Increase/ (decrease) in trade payables	(379)	943
Increase/ (decrease) in other financial liabilities	18	7
Increase/ (decrease) in other liabilities	(37)	109
Increase/ (decrease) in Provision	133	(27)
Cash generated from operations	(423)	486
Income taxes refunded/ (paid), net	5	15
Net cash (used in)/ generated from operating activities	(418)	501
B. CASH FLOW FROM INVESTING ACTIVITIES
Expenditure on property, plant and equipment and capital advances	(317)	(100)
Proceeds from sale of property, plant and equipment	674	-
Purchase of Current Investments	(69)	-
Sale of current investments	-	3
Redemption/ (investments in fixed deposits)	(19)	17
Interest received	13	3
Net cash (used in)/ generated from investing activities	282	(77)
C. CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from loans taken from banks and financial institutions	2,014	169
Repayment of loans taken from banks and financial institutions	(1,355)	(279)
Unsecured loans taken from directors	162	120
Unsecured loans repaid to directors	(376)	(41)
Repayment of loans to company	(25)	(12)
Loan taken from company	48	14
Finance costs paid	(347)	(286)
Net cash (used in)/ generated from financing activities	121	(315)
NET CASH (USED IN)/ GENERATED FROM CONTINUING OPERATIONS	(15)	109
INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS	(15)	109
Cash and cash equivalents at the beginning of the year	302	193
Cash and cash equivalents at the end of the year	287	302

Notes :
1. The above cash flow statement has been prepared under the "Indirect Method" set out in Indian Accounting Standard (Ind As-7) on statement of Cash Flow as notified under Companies (Accounts) Rule 2015.

Place : Mumbai
Date : May 04, 2026

MUMBAI CNK

For Indokem Limited

Mahendra K. Khatau
Chairman & Managing Director
DIN: 00062794

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Indokem Limited
(CIN NO.: L31300MH1964PLC013088)

Registered Office:
"KHATAU HOUSE", Ground Floor,
Mogul Lane, Mahim (West),
Mumbai - 400 016.

Phone : 61236767
Fax : 61236718
Website : www.indokem.co.in

To,
BSE Limited,
Corporate Relations Department
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai – 400 001

Scrip Code: 504092

Sub: Declaration of Unmodified Opinion

In compliance with the provisions of Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016, We, Mahendra K. Khatau, Chairman and Managing Director and Sivarama Gunturi, Chief Financial Officer of the Company, to the best of our knowledge and belief hereby declare, that the Company’s Statutory Auditor, C N K & Associates LLP, Chartered Accountants, Mumbai (Firm Registration Number - 101961W/W100036), have provided Audit Reports with an unmodified opinion on the Audited Standalone and Consolidated financial results of the Company for the year ended 31st March, 2026.

For INDOKEM LIMITED

Mahendra K. Khatau
Chairman and Managing Director
(DIN: 00062794)
Mumbai, 04th May, 2026

For INDOKEM LIMITED

Sivarama Gunturi
Chief Financial Officer