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ITL Industries Ltd. — Interim / Quarterly Report 2026
May 30, 2026
61443_rns_2026-05-30_82addc5a-1dae-4e15-ac9d-2b44030d99ff.pdf
Interim / Quarterly Report
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ITL Industries Limited
ITL/BSE/2026-27/9
May 30, 2026
To,
The BSE Limited
25th Floor, Phiroze Jeejeebhoy Towers
Dalal Street,
MUMBAI-400001
Online Filing at: listing.bseindia.com
BSE Code: 522183
Sub.: Submission of Outcome of Board Meeting of the Company held on Saturday, May 30, 2026 started at 12:30 P.M. and concluded at 07.00 P.M.
Dear Sir,
In continuation of our previous letter dated May 20, 2026 regarding intimation of Board Meeting, in this connection, We have to inform you that the Board of Director of the Company at its meeting held today i.e. Saturday, May 30, 2026 at the Registered Office of the Company, has inter alia to considered and approved following business:-
- The Standalone and Consolidated Audited financial results of the Company for the Quarter/Year ended March 31, 2026.
- Taken on record the Audit Report of the Statutory Auditors for the Standalone and Consolidated Audited Financial Results of the Company for the Quarter/Year ended March 31, 2026.
- The Standalone and Consolidated Audited Financial Statements, including the Balance Sheet, as at March 31, 2026 and the Statement of Profits and Loss and Cash flow and notes thereon for the year ended March 31, 2026.
- Recommended final dividend of Rs. 1.25/- (12.5%) per Equity Shares of Rs. 10/- each of the Company for the financial year 2025-26, subject to approval of the Shareholders in the ensuing Annual General Meeting of the Company.
We are submitting herewith Standalone and Consolidated Audited Financial Results for the fourth quarter/year ended on March 31, 2026 along with Auditor’s Report and declaration (for unmodified opinion) pursuant to Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015.
ITL Industries Limited (Since 1985) a BSE listed Public Limited Co, ISO 9001:2015 Certified Company
Address: 111, Sector-B, Sanwer Road, Industrial Area, Indore-452015 (M.P.) BHARAT (India)
Phone: +91 731-7104400-401, Mktg +91 731-7104412-15, Sales +91 731-7104416
E-mail: [email protected], Website: www.itl.co.in. CIN No.: L28939MP1989PLC005037 GSTIN: 23AAACI3932N1ZK
ITL Industries Limited
We are also in process to file the aforesaid financial results in XBRL format within the stipulated time and same shall also be hosted at the website of the Company www.itl.co.in.
Kindly acknowledge the receipt of the same and take on records.
Thanking you,
For and on behalf of the Board
ITL Industries Limited
Manoj Maheshwari
(Signature)
Manoj Maheshwari
Company Secretary
Encl:-Auditor’s Report along with Standalone & consolidated Audited Financial Results and declaration (for unmodified opinion) pursuant to Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015.
ITL Industries Limited (Since 1985) a BSE listed Public Limited Co, ISO 9001:2015 Certified Company
Address : 111, Sector-B, Sanwer Road, Industrial Area, Indore-452015 (M.P.) BHARAT (India)
Phone :+91 731-7104400-401, Mktg +91 731-7104412-15, Sales +91 731-7104416
E-mail : [email protected], Website : www.itl.co.in. CIN No. : L28939MP1989PLC005037 GSTIN : 23AAACI3932N1ZK
| ITL INDUSTRIES LIMITED
Regd. Office: 111, Sector-B, Sanwer Road, Indore (M.P.)
STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER/YEAR ENDED ON MARCH 31, 2026
(Rs.in lacs except EPS) | | | | | | |
| --- | --- | --- | --- | --- | --- | --- |
| S.N. | PARTICULARS | QUARTER ENDED | | | YEAR ENDED | |
| | | 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 |
| | | (Audited) | (Un-audited) | (Audited) | (Audited) | (Audited) |
| 1 | Sales/Income from operation | | | | | |
| | (a) Income from Operations | 6192.60 | 5108.49 | 5517.18 | 20303.22 | 18335.37 |
| | (b) Other operating income | 0.00 | 0.00 | 2.70 | 0.00 | 2.70 |
| | Total Income From Operating Activities | 6192.60 | 5108.49 | 5519.88 | 20303.22 | 18338.07 |
| 2 | Other Income | 149.04 | 30.00 | 61.32 | 266.79 | 283.74 |
| 3 | Total Income | 6341.64 | 5138.49 | 5581.20 | 20570.01 | 18621.81 |
| 4 | Total Expenditures : | | | | | |
| | a) Cost of Raw materials | 3073.84 | 2595.09 | 2812.62 | 10142.58 | 9126.91 |
| | b) Purchase of Stock in Trade | 1349.07 | 1451.67 | 1072.78 | 5069.61 | 4668.70 |
| | c) Change in Inventories of finished goods, w.i.p. and stock in trade | -94.35 | -209.58 | -132.91 | -452.22 | -374.37 |
| | d) Employee benefit expenses | 859.52 | 435.54 | 563.76 | 2248.01 | 1817.70 |
| | e) Finance Cost | 35.04 | 55.20 | 48.98 | 194.96 | 164.13 |
| | f) Depreciation & amortisation exp. | 40.67 | 40.82 | 58.22 | 159.23 | 155.02 |
| | g) Other Expenditures any item exceeding 10% of the total expenses relating to continuing operations to be shown separately | 815.86 | 398.16 | 756.85 | 1939.09 | 1782.18 |
| | Total Expenses (a to g) | 6079.65 | 4766.90 | 5180.30 | 19301.26 | 17340.27 |
| 5 | Profit from operations before Exceptional Items (3-4) | 261.99 | 371.59 | 400.90 | 1268.75 | 1281.54 |
| 6 | Exceptional Items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 7 | Profit / (Loss) before Tax (5 - 6) | 261.99 | 371.59 | 400.90 | 1268.75 | 1281.54 |
| 8 | Tax expenses | | | | | |
| | (a) Current Tax | 116.36 | 100.00 | 144.85 | 376.36 | 364.85 |
| | (b) Deferred Tax | -50.44 | -0.55 | 2.07 | -57.66 | 5.51 |
| 9 | Profit / (Loss) for the period from continuing operation (7 - 8) | 196.06 | 272.14 | 253.98 | 950.05 | 911.18 |
| 10 | Profit / (Loss) for the period from Discontinuing operation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 11 | Tax expenses from Discontinuing operation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 12 | Profit/(Loss) for the period from Discontinuing operations (after Tax) (10-11) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 13 | Standalone Net Profit / Loss for the Period | 196.06 | 272.14 | 253.98 | 950.05 | 911.18 |
| 14 | Other Comprehensive Income | | | | | |
| | (i) Items that will not be reclassified to profit or loss | -65.61 | 15.13 | -32.18 | -2.61 | -37.45 |
| | (ii) Income tax relating to items that will not be reclassified to profit or loss | 8.20 | -1.89 | 3.36 | 0.33 | 3.89 |
| (B) | (i) Items that will be reclassified to profit or loss | 61.94 | 0.00 | -5.69 | 61.94 | -5.69 |
| | (ii) Income tax relating to items that will be reclassified to profit or loss | -15.59 | 0.00 | 1.43 | -15.59 | 1.43 |
| | Other Comprehensive Income / (loss) for the period | -11.06 | 13.24 | -33.08 | 44.07 | -37.82 |
| 15 | Total Comprehensive Income /(Loss) for the Period (13+14) | 185.00 | 285.38 | 220.90 | 994.12 | 873.36 |
| 16 | Paid-up Equity Share Capital (Face value of Rs.10/- each) | 320.43 | 320.43 | 320.43 | 320.43 | 320.43 |
| 17 | Reserves excluding revaluation reserves as per balance sheet of previous accounting years | 8543.92 | 8329.33 | 7558.75 | 8543.92 | 7575.35 |
| 18 | Earning per share for continuing operation | | | | | |
| | (a) Basic | 6.12 | 8.49 | 7.93 | 29.65 | 28.44 |
| | (b) Diluted | 6.12 | 8.49 | 7.93 | 29.65 | 28.44 |
R
ITL INDUSTRIES LIMITED
Regd. Office : 111, Sector-B, Sanwer Road, Indore (M.P.)
STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER/ YEAR ENDED ON MARCH 31, 2026
SEGMENT-WISE REVENUE, RESULTS & CAPITAL EMPLOYED
| S.N. | PARTICULARS | QUARTER ENDED | YEAR ENDED | |||
|---|---|---|---|---|---|---|
| 31.03.2026 | ||||||
| (Audited) | 31.12.2025 | |||||
| (Un-audited) | 31.03.2025 | |||||
| (Audited) | 31.03.2026 | |||||
| (Audited) | 31.03.2025 | |||||
| (Audited) | ||||||
| 1 | Segment Revenue : | |||||
| - | Machine Manufacturing | 4849.56 | 3702.26 | 3685.88 | 15289.21 | 13330.28 |
| - | Trading Activities | 2015.60 | 1759.16 | 1702.26 | 6896.58 | 6238.34 |
| - | Total | 6865.16 | 5461.42 | 5388.14 | 22185.79 | 19568.62 |
| - | Less : Inter Segment Revenue | 523.52 | 322.93 | -193.06 | 1615.78 | 946.81 |
| - | Net Sales / Income from operations | 6341.64 | 5138.49 | 5581.20 | 20570.01 | 18621.81 |
| 2 | Segment Profit / (Loss) before Tax and Interest: | |||||
| - | Machine Manufacturing | 285.55 | 303.13 | 398.19 | 1149.95 | 1110.54 |
| - | Trading Activities | 11.47 | 123.66 | 51.69 | 313.75 | 335.13 |
| - | Total | 297.02 | 426.79 | 449.88 | 1463.70 | 1445.67 |
| - | Less : Interest | 35.04 | 55.20 | 48.98 | 194.96 | 164.13 |
| - | Net Profit before Tax | 261.98 | 371.59 | 400.90 | 1268.74 | 1281.54 |
| 3 | Capital Employed : | |||||
| (Seg.Assets - Seg.Liability) | ||||||
| - | Machine Manufacturing | 5562.00 | 5394.46 | 4907.54 | 5562.00 | 4907.54 |
| - | Trading Activities | 3295.04 | 3273.37 | 2983.21 | 3295.04 | 2983.21 |
| - | Total | 8857.04 | 8667.83 | 7890.75 | 8857.04 | 7890.75 |
Notes:
-
The above results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on May 30, 2026. The Statutory Auditors have audited the financial statements for the quarter/year ended on 31.03.2026 and have expressed an unqualified audit opinion.
-
The Company adopted Indian Accounting Standards ("IND AS") from 01/04/2017 and accordingly these financial results have been prepared. In accordance with the recognition and measurement principles laid down in the IND AS 34 Interrim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules made thereunder.
-
The Financial results for the quarter/year ended on 31.03.2026 as disclosed above have been reviewed by the Auditors as per Accounting Standards applicable at that time. However, Management has exercised necessary due diligence to ensure that the financial results provides true and fair view of the Company's Affairs.
-
The Board of Directors has recommended a final dividend of ₹1.25 per equity share (12.5%) of face value ₹10 each for the financial year 2025-26.
-
Previous quarter's figures have been regrouped / reclassified wherever necessary.
-
On November 21, 2025, the Government of India notified the provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the "Labour Codes"), which consolidate twenty nine existing labour laws into a unified framework governing employee benefits during employment and post-employment. Based on the draft rules and FAQs issued by the Ministry of Labour and Employment and the best available information, the Company has assessed the implications of the Labour Codes, which have resulted in an increase in gratuity liability arising out of past service cost amounting to ₹ 112.66 Lakh.
-
The aforesaid Audited Financial Results will be uploaded on the Company's website www.itl.co.in and will also be available on the website of the BSE Limited (www.bseindia.com) for the benefit of Shareholders and investors.
Place : Indore
Date : 30.05.2026

For and on behalf of the Board
ITL Industries Limited

Rajendra Jain
Managing Director
DIN: 00256515
| ITL INDUSTRIES LIMITED
Standalone / Consolidated Statement of Assets and Liabilities As at March 31, 2026
(Rs. in Lacs) | | | | | |
| --- | --- | --- | --- | --- | --- |
| | Particulars | Standalone | | Consolidated | |
| | | As at year ended | | As at year ended | |
| | | (31.03.2026)
[Audited] | (31.03.2025)
[Audited] | (31.03.2026)
[Audited] | (31.03.2025)
[Audited] |
| A | ASSETS | | | | |
| 1 | Non-current assets | | | | |
| | (a) Property, Plant & Equipment | 1423.00 | 1271.48 | 1423.00 | 1767.56 |
| | (b) Capital Work in Progress | 0.00 | 0.00 | 0.00 | 0.00 |
| | (c) Intangible Assets | 31.96 | 29.96 | 31.96 | 29.97 |
| | (d) Financial Assets | | | | |
| | (i) Investment | 1592.91 | 1770.49 | 1592.91 | 1725.84 |
| | (ii) Loans | 0.00 | 0.00 | 0.00 | 0.00 |
| | (iii) Other Financial Assets | 34.01 | 33.88 | 34.01 | 26.50 |
| | (e) Income Tax Assets (Net) | 0.00 | 0.00 | 0.00 | 0.00 |
| | (f) Other Non current Assets | | | | |
| | Sub-total - Non-current assets | 3081.88 | 3105.81 | 3081.88 | 3549.87 |
| 2 | Current assets | | | | |
| | (a) Inventories | 5888.98 | 4920.16 | 5888.98 | 4920.16 |
| | (b) Financial Assets | | | | |
| | (i) Trade Receivables | 3399.27 | 3240.76 | 3399.27 | 3269.54 |
| | (ii) Investment | 100.00 | 150.00 | 100.00 | 175.77 |
| | (iv) Cash & Cash Equivalents | 15.62 | 22.67 | 15.62 | 23.02 |
| | (v) Bank Balance other (iv) above | 694.47 | 191.32 | 694.47 | 191.32 |
| | (vi) Loans & Advances | 0.00 | 0.00 | 0.00 | 0.00 |
| | (vii) Other Financial Assets | 1773.57 | 1348.57 | 1773.57 | 1305.08 |
| | (c) Other Current Assets | 365.32 | 291.36 | 365.32 | 292.34 |
| | (d) Current Tax Assets (Net) | 0.00 | 0.00 | 0.00 | 0.00 |
| | Sub-total - Current assets | 12237.23 | 10164.84 | 12237.23 | 10177.23 |
| | TOTAL - ASSETS | 15319.11 | 13270.65 | 15319.11 | 13727.10 |
| B | EQUITY AND LIABILITIES | | | | |
| 1 | Equity | | | | |
| | (a) Equity Share capital | 320.43 | 320.43 | 320.43 | 320.43 |
| | (b) Other Equity | 8536.61 | 7570.32 | 8536.61 | 7695.15 |
| | (c) Minority Interest | 0.00 | 0.00 | 0.00 | 51.73 |
| | Sub Total - Total Equity | 8857.04 | 7890.75 | 8857.04 | 8067.31 |
| 2 | Non Current Liabilities | | | | |
| | (a) Financial Liabilities | | | | |
| | (i) Long Term Borrowings | 223.22 | 277.60 | 223.22 | 317.55 |
| | (ii) Other Financial Liabilities | 0.00 | 0.00 | 0.00 | 0.00 |
| | (b) Provisions | 0.00 | 0.00 | 0.00 | 0.00 |
| | (c) Deferred tax liabilities (net) | 47.31 | 89.71 | 47.31 | 177.20 |
| | Sub Total - Non Current Liabilities | 270.53 | 367.31 | 270.53 | 494.75 |
| 3 | Current Liabilities | | | | |
| | (a) Financial Liabilities | | | | |
| | (i) Short Term Borrowings | 2029.76 | 1636.57 | 2029.76 | 1712.48 |
| | (ii) Trade Payables | 2628.90 | 2186.69 | 2628.90 | 2259.76 |
| | (iii) Other Financial Liabilities | 313.51 | 391.77 | 313.51 | 399.49 |
| | (b) Other Current Liabilities | 970.84 | 677.11 | 970.84 | 683.20 |
| | (c) Provisions | 212.82 | 103.91 | 212.82 | 103.91 |
| | (d) Current Tax Liabilities (Net) | 35.71 | 16.54 | 35.71 | 6.20 |
| | Sub Total - Current Liabilities | 6191.54 | 5012.59 | 6191.54 | 5165.04 |
| | TOTAL - EQUITY AND LIABILITIES | 15319.11 | 13270.65 | 15319.11 | 13727.10 |
Place : Indore
Date : 30.05.2026

For and On behalf of the Board
ITL Industries Limited

Rajendra Jain
Managing Director
DIN: 00256515
ITL INDUSTRIES LIMITED
Regd. Office : 111, Sector-B, Sanwer Road, Indore (M.P.)
CIN: L28939MP1989PLC005037
STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH, 2026
(All amounts are in ₹ lacs, except share and per share data, unless otherwise stated)
| PARTICULARS | 31.03.2026 | 31.03.2025 |
|---|---|---|
| A) CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit/(Loss) before tax for the year | 1268.75 | 1281.54 |
| Add / (Less): Ajustment for: | ||
| Depreciation and amortisation expenses | 159.23 | 155.02 |
| Loss / Profit on Sale of Investment | -66.08 | -32.69 |
| Loss / Profit on Sale of Fixed Assets | -2.20 | 0.02 |
| Interest received | -123.47 | -166.39 |
| Interest paid | 194.96 | 164.13 |
| Operating profit before working capital changes | 1431.20 | 1401.63 |
| Adjustments for changes in working capital : | ||
| In inventories | -968.81 | -588.90 |
| In trade receivables | -158.51 | -778.21 |
| In other financial assets | -425.14 | -268.36 |
| In other non current assets | -73.96 | -121.97 |
| In trade payables | 442.21 | 485.40 |
| In other financial liabilities | -78.25 | 103.80 |
| In other current liabilities | 293.73 | 47.43 |
| In provisions | 108.92 | 14.32 |
| Cash Generated from Operations | 571.39 | 295.16 |
| Direct taxes (paid)/refund | 357.20 | 307.56 |
| Net Cash from Operating Activities | 214.19 | -12.40 |
| B) CASH FLOW FROM INVESTING ACTIVITIES | ||
| Purchase of property and equipment including intangible assets (net) | -314.93 | -300.73 |
| Proceeds from sale of property, plant and equipment | 4.34 | 0.27 |
| Movement In investments | 357.24 | -225.19 |
| Interest received | 123.47 | 166.39 |
| Net Cash used in Investing Activities | 170.12 | -359.27 |
| C) CASH FLOW FROM FINANCING ACTIVITIES | ||
| Movement in Non-current Borrowing | -54.38 | -25.30 |
| Movement in Current Borrowing | 393.19 | 592.81 |
| Dividend/ Corporate Dividend Tax | -32.04 | -32.04 |
| Interest paid | -194.96 | -164.13 |
| Net Cash used in Financing Activities | 111.80 | 371.34 |
| Net Increase in Cash & Cash Equivalents (A+B+C) | 496.11 | -0.33 |
| Effects of exchange rate changes of cash and cash equivalents | 0.00 | 0.00 |
| Cash and cash equivalents at beginning of year | 213.99 | 214.32 |
| Cash and cash equivalents at end of year | 710.09 | 213.99 |
Cash and cash equivalents as per above comprises of the following:
| Particulars | 31.03.2026 | 31.03.2025 |
|---|---|---|
| Cash in hand | 15.62 | 22.67 |
| Balances with bank | 694.47 | 191.32 |
| Deposit with original maturity of less than 3 months | 0.00 | 0.00 |
| Cash and cash equivalents at end of year | 710.09 | 213.99 |
For and On behalf of the Board
ITL Industries Limited
Place : Indore
Date : 30.05.2026
Rajendra Jain
Managing Director
DIN: 00256515
MAHENDRA BADJATYA & CO.
CHARTERED ACCOUNTANTS
Independent Auditor's Report on Audit of Quarterly and Annual Standalone Financial Results of ITL Industries Limited ("the Company") pursuant to the requirements of Regulations 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015, as amended.
To the Board of Directors of ITL Industries Limited
Opinion
We have audited the accompanying "Statement of Standalone Financial Results for the Quarter and Year ended 31st March, 2026" of ITL INDUSTRIES LIMITED (the "Company"), which comprises the Balance Sheet as at 31st March, 2026, the Statement of Profit and Loss (including Other Comprehensive Income) for the quarter and year ended 31st March, 2026 (the "Statement") and the Statement of Cashflows for the year ended 31st March, 2026, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us, the Statement:
i) is presented in accordance with the requirements of Regulations 33 of the Listing Regulations; and
ii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information of the Company for the quarter and year then ended.

MAHENDRA BADJATYA & CO.
208, Morya Centre, 16 Race Course Road, Opposite Basket Ball Complex, Indore 452003 (M.P)
Dial: (0) 0731-2535934, 4078331, Mobile: 9993023823, 7470474605
URL: www.camkb.com, E-mail: [email protected]
CA INDIA
MAHENDRA BADJATYA & CO.
CHARTERED ACCOUNTANTS
Basis for Opinion
We conducted our audit of the financial statements in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics.
We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.
Management's Responsibilities for the Financial Results
The Company's Board of Directors is responsible for the preparation and presentation of these financial statements that give a true and fair view of the financial position, financial performance, including total comprehensive income, changes in equity and cash flows of the Company in accordance with Ind AS 34 and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and 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

MAHENDRA BADJATYA & CO.
208, Morya Centre, 16 Race Course Road, Opposite Basket Ball Complex, Indore 452003 (M.P)
Dial: (0) 0731-2535934, 4078331, Mobile: 9993023823, 7470474605
URL: www.camkb.com, E-mail: [email protected]
CA INDIA
MAHENDRA BADJATYA & CO.
CHARTERED ACCOUNTANTS
the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is 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 management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors is responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Financial Results
Our objectives are to obtain reasonable assurance about whether the financial statements 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 statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, 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
MAHENDRA BADJATYA & CO.
208, Morya Centre, 16 Race Course Road, Opposite Basket Ball Complex, Indore 452003 (M.P)
Dial: (0) 0731-2535934, 4078331, Mobile: 9993023823, 7470474605
URL: www.camkb.com, E-mail: [email protected]
MAHENDRA BADJATYA & CO.
CHARTERED ACCOUNTANTS
our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
- Conclude on the appropriateness of management's 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.
- Evaluate the overall presentation, structure, and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Materiality is the magnitude of misstatements in the financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the financial statements.
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
MAHENDRA BADJATYA & CO.
208, Morya Centre, 16 Race Course Road, Opposite Basket Ball Complex, Indore 452003 (M.P)
Dial: (0) 0731-2535934, 4078331, Mobile: 9993023823, 7470474605
URL: www.camkb.com, E-mail: [email protected]
CA INDIA
MAHENDRA BADJATYA & CO.
CHARTERED ACCOUNTANTS
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 matters
a. The annual financial results include 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.
For MAHENDRA BADJATYA & CO.
Chartered Accountants
FRN: 001457C

CA Nirdesh Badjatya
Partner
M.No. 420388
ICAI UDIN: 26420388HONPQT4538
Date: 30.05.2026
Place: Indore
MAHENDRA BADJATYA & CO.
208, Morya Centre, 16 Race Course Road, Opposite Basket Ball Complex, Indore 452003 (M.P)
Dial: (0) 0731-2535934, 4078331, Mobile: 9993023823, 7470474605
URL: www.camkb.com, E-mail: [email protected]
| ITL INDUSTRIES LIMITED
Regd. Office: 111, Sector-B, Sanwer Road, Indore (M.P.)
CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER/YEAR ENDED ON MARCH 31, 2026
(Rs.in lacs except EPS) | | | | | | |
| --- | --- | --- | --- | --- | --- | --- |
| S.N. | PARTICULARS | QUARTER ENDED | | | YEAR ENDED | |
| | | 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 |
| | | (Audited) | (Un-audited) | (Audited) | (Audited) | (Audited) |
| 1 | Sales/Income from operation | | | | | |
| | (a) Income from Operations | 6192.60 | 5108.49 | 5513.81 | 20303.22 | 18341.71 |
| | (b) Other operating income | 0.00 | 0.00 | 2.70 | 0.00 | 2.70 |
| 2 | Total Income From Operating Activities | 6192.60 | 5108.49 | 5516.51 | 20303.22 | 18344.41 |
| | Other Income | 152.86 | 31.42 | 65.74 | 278.56 | 300.55 |
| 3 | Total Income | 6345.46 | 5139.91 | 5582.25 | 20581.78 | 18644.96 |
| 4 | Total Expenditures : | | | | | |
| | a) Cost of Raw materials | 3065.65 | 2592.96 | 2806.83 | 10124.64 | 9111.08 |
| | b) Purchase of Stock in Trade | 1349.07 | 1451.67 | 1072.78 | 5069.61 | 4668.70 |
| | c) Change in Inventories of finished goods, w.i.p. and stock in trade | -94.35 | -209.58 | -132.91 | -452.22 | -374.37 |
| | d) Employee benefit expenses | 861.64 | 437.68 | 565.61 | 2256.81 | 1822.52 |
| | e) Finance Cost | 37.96 | 58.64 | 52.28 | 205.64 | 180.86 |
| | f) Depreciation & amortisation exp. | 42.26 | 46.17 | 59.63 | 176.81 | 176.00 |
| | g) Other Expenditures any item exceeding 10% of the total expenses relating to continuing operations to be shown separately | 810.81 | 392.45 | 734.75 | 1920.52 | 1741.55 |
| | Total Expenses (a to g) | 6073.04 | 4769.99 | 5158.97 | 19301.81 | 17326.34 |
| 5 | Profit from operations before Exceptional Items (3 -4) | 272.42 | 369.92 | 423.28 | 1279.97 | 1318.62 |
| 6 | Exceptional Items | -135.59 | 0.00 | 0.00 | -135.59 | 0.00 |
| 7 | Profit / (Loss) before Tax (5 - 6) | 136.83 | 369.92 | 423.28 | 1144.38 | 1318.62 |
| 8 | Tax expenses | | | | | |
| | (a) Current Tax | 129.22 | 100.00 | 144.85 | 389.22 | 364.85 |
| | (b) Deferred Tax | -50.54 | -0.55 | 5.56 | -57.76 | 9.00 |
| 9 | Profit/(Loss) for the period from continuing operation (7 - 8) | 58.15 | 270.47 | 272.87 | 812.92 | 944.77 |
| 10 | Profit / (Loss) for the period from Discontinuing operation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 11 | Tax expenses from Discontinuing operation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 12 | Profit/(Loss) for the period from Discontinuing operations (after Tax) (10-11) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 13 | Share of profit(loss) of Associates accounted for using equity method | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 14 | Non Controlling Interest | -1.11 | -0.80 | 9.80 | -0.74 | 16.78 |
| 15 | Consolidated Net Profit / Loss for the Period | 59.26 | 271.27 | 263.07 | 813.66 | 927.99 |
| 16 | Other Comprehensive Income (Expenses) | | | | | |
| (A) | (i) Equity Instruments through Other Comprehensive Income | -65.61 | 15.13 | -32.18 | -2.61 | -37.45 |
| | (ii) Defined Benefit Plan through Other Comprehensive Income | 69.82 | -1.89 | -6.22 | 61.95 | -5.69 |
| | (i) Income Tax Relating to Equity Instruments through Other Comprehensive Income | 0.33 | 0.00 | 3.89 | 0.33 | 3.89 |
| (B) | (ii) Income Tax Relating to Defined Benefit Plan through Other Comprehensive Income | -15.59 | 0.00 | 1.43 | -15.59 | 1.43 |
| | Other Comprehensive Income / (loss) for the period / year net of tax the period / year net of tax | -11.05 | 13.24 | -33.08 | 44.08 | -37.82 |
| | Total Comprehensive Income /(Loss) for the Period (15+16) | 48.21 | 284.51 | 229.99 | 857.74 | 890.17 |
| 17 | Paid-up Equity Share Capital (Face value of Rs.10/- each) | 320.43 | 320.43 | 320.43 | 320.43 | 320.43 |
| 18 | Reserves excluding revaluation reserves as per balance sheet of previous accounting years | 8410.13 | 8362.91 | 7612.75 | 8410.13 | 7612.75 |
| 19 | Earning per share for continuing operation | | | | | |
| 20 | (a) Basic | 1.85 | 8.47 | 8.21 | 25.39 | 28.96 |
| | (b) Diluted | 1.85 | 8.47 | 8.21 | 25.39 | 28.96 |
R
| ITL INDUSTRIES LIMITED
Regd. Office: 111, Sector-B, Sanwer Road, Indore (M.P.)
CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE FOURTH QUARTER/YEAR ENDED ON MARCH 31, 2026
SEGMENT-WISE REVENUE, RESULTS & CAPITAL EMPLOYED
(Rx.in lacs) | | | | | | |
| --- | --- | --- | --- | --- | --- | --- |
| S.N. | PARTICULARS | QUARTER ENDED | | | YEAR ENDED | |
| | | 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 |
| | | (Audited) | (Un-audited) | (Audited) | (Audited) | (Audited) |
| 1 | Segment Revenue : | | | | | |
| - | Machine Manufacturing | 4853.38 | 3703.68 | 3696.64 | 15300.98 | 13353.43 |
| - | Trading Activities | 2015.60 | 1759.16 | 1702.26 | 6896.58 | 6238.34 |
| - | Total | 6868.98 | 5462.84 | 5398.90 | 22197.56 | 19591.77 |
| - | Less : Inter Segment Revenue | 523.52 | 322.93 | -193.06 | 1615.78 | 946.81 |
| - | Net Sales / Income from operations | 6345.46 | 5139.91 | 5591.96 | 20581.78 | 18644.96 |
| 2 | Segment Profit / (Loss) before Tax and Interest : | | | | | |
| - | Machine Manufacturing | 163.32 | 305.00 | 423.87 | 1036.27 | 1164.35 |
| - | Trading Activities | 11.47 | 123.56 | 51.69 | 313.75 | 335.13 |
| - | Total | 174.79 | 428.56 | 475.56 | 1350.02 | 1499.48 |
| - | Less : Interest | 37.96 | 58.64 | 52.28 | 205.64 | 180.86 |
| - | Net Profit before Tax | 136.83 | 369.92 | 423.28 | 1144.38 | 1318.62 |
| 3 | Capital Employed :
(Seg.Assets - Seg.Liability) | | | | | |
| - | Machine Manufacturing | 5562.00 | 5571.81 | 5084.10 | 5562.00 | 5084.10 |
| - | Trading Activities | 3295.04 | 3273.36 | 2983.21 | 3295.04 | 2983.21 |
| - | Total | 8857.04 | 8845.17 | 8067.31 | 8857.04 | 8067.31 |
| | | | | | | |
| Notes:
1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on May 30, 2026. The Statutory Auditors have audited the financial statements for the quarter/year ended on 31.03.2026 and have expressed an unqualified audit opinion.
2. The Company adopted Indian Accounting Standards ("IND AS") from 01/04/2017 and accordingly these financial results have been prepared. In accordance with the recognition and measurement principles laid down in the IND AS 34 Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules made thereunder.
3. The Financial results for the quarter/year ended on 31.03.2026 as disclosed above have been reviewed by the Auditors as per Accounting Standards applicable at that time. However, Management has exercised necessary due diligence to ensure that the financial results provides true and fair view of the Company's Affairs.
4. The Board of Directors has recommended a final dividend of ₹1.25 per equity share (12.5%) of face value ₹10 each for the financial year 2025-26.
5. Previous quarter's figures have been regrouped / reclassified wherever necessary.
6. On November 21, 2025, the Government of India notified the provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the "Labour Codes"), which consolidate twenty-nine existing labour laws into a unified framework governing employee benefits during employment and post-employment.
Based on the draft rules and FAQs issued by the Ministry of Labour and Employment and the best available information, the Company has assessed the implications of the Labour Codes, which have resulted in an increase in gratuity liability arising out of past service cost amounting to ₹ 112.66 Lakh.
7. The Board of Directors of the Company, at its meeting held on March 17, 2026, approved the disinvestment of the Company's entire shareholding in M.M. Metals Private Limited, a non-material subsidiary of the Company. Pursuant to the said approval, the Company disposed of its entire holding of 30,480 (Thirty Thousand Four Hundred Eighty) equity shares, representing 52.55% of the issued, subscribed and paid-up equity share capital of M.M. Metals Private Limited. Consequently, M.M. Metals Private Limited ceased to be a subsidiary of the Company with effect from March 20, 2026.
8. The Profit and Loss account of the subsidiary has been merged with the parent company's accounts up to 19.03.2026. Subsequent to this date, the subsidiary is no longer consolidated. Accordingly, the financial statements as on 31.03.2026 have been prepared and presented on a standalone basis.
9. The aforesaid Audited Financial Results will be uploaded on the Company's website www.itl.co.in and will also be available on the website of the BSE Limited (www.bseindia.com) for the benefit of Shareholders and investors.
Place : Indore
Date : 30.05.2026 | | | | | | |

For and On behalf of the Board
ITL Industries Limited

Rajendra Jain
Managing Director
DIN: 00256515
ITL INDUSTRIES LIMITED
Regd. Office : 111, Sector-B, Sanwer Road, Indore (M.P.)
CIN: L28939MP1989PLC005037
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH, 2026
(All amounts are in ₹ lacs, except share and per share data, unless otherwise stated)
| PARTICULARS | 31.03.2026 | 31.03.2025 |
|---|---|---|
| A) CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit/(Loss) before tax for the year | 1144.38 | 1318.62 |
| Add / (Less): Ajustment for: | ||
| Depreciation and amortisation expenses | 176.81 | 176.00 |
| Loss / Profit on Sale of Investment | -66.08 | -32.69 |
| Loss / Profit on Sale of Fixed Assets | -2.20 | 0.02 |
| Interest received | -123.46 | -166.39 |
| Interest paid | 205.64 | 180.87 |
| Operating profit before working capital changes | 1335.09 | 1476.43 |
| Adjustments for changes in working capital : | ||
| In inventories | -968.82 | -587.47 |
| In trade receivables | -129.73 | -778.95 |
| In other financial assets | -476.01 | -268.02 |
| In other current assets | -72.98 | -122.70 |
| In trade payables | 369.15 | 403.19 |
| In other financial liabilities | -85.98 | 225.59 |
| In other current liabilities | 287.63 | 49.02 |
| In provisions | 108.91 | 14.32 |
| Cash Generated from Operations | 367.28 | 411.40 |
| Direct taxes (paid) /refund | -359.74 | -310.21 |
| Net Cash from Operating Activities | 7.54 | 101.20 |
| B) CASH FLOW FROM INVESTING ACTIVITIES | ||
| Purchase of property and equipment including intangible assets (net) | -314.94 | -315.73 |
| Proceeds from sale of property, plant and equipment | 4.35 | 0.27 |
| Movement in investments | 250.98 | -198.98 |
| Derecognition of subsidiary | 439.08 | 0.00 |
| Interest received | 123.46 | 166.39 |
| Net Cash used in Investing Activities | 502.93 | -348.06 |
| C) CASH FLOW FROM FINANCING ACTIVITIES | ||
| Movement in Non-current Borrowing | -94.33 | -133.24 |
| Movement in Current Borrowing | 317.28 | 592.80 |
| Dividend/ Corporate Dividend Tax | -32.04 | -32.04 |
| Interest paid | -205.64 | -180.87 |
| Net Cash used in Financing Activities | -14.73 | 246.66 |
| Net Increase in Cash & Cash Equivalents (A+B+C) | 495.76 | -0.21 |
| Effects of exchange rate changes of cash and cash equivalents | 0.00 | 0.00 |
| Cash and cash equivalents at beginning of year | 214.34 | 214.55 |
| Cash and cash equivalents at end of year | 710.10 | 214.34 |
| Cash and cash equivalents as per above comprises of the following: | ||
| Particulars | 31.03.2026 | 31.03.2025 |
| Cash in hand | 15.62 | 23.02 |
| Balances with bank | 694.47 | 191.32 |
| Deposit with original maturity of less than 3 months | 0.00 | 0.00 |
| Cash and cash equivalents at end of year | 710.09 | 214.34 |
For and On behalf of the Board
ITL Industries Limited
Place : Indore
Date : 30.05.2026
Rajendra Jain
Managing Director
DIN: 00256515
CA INDIA
MAHENDRA BADJATYA & CO.
CHARTERED ACCOUNTANTS
Independent Auditor's Report on Audit of Quarterly and Annual Consolidated Financial Results of ITL Industries Limited ("the Company") pursuant to the requirements of Regulations 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015, as amended.
To the Board of Directors of ITL Industries Limited
Opinion
We have audited the accompanying "Statement of Consolidated Financial Results for the Quarter / Year ended 31/03/2026" of ITL INDUSTRIES LIMITED (the "Parent"), which includes its subsidiary (the Parent and the subsidiary together referred to as the "Group") and its share of the net profit / loss after tax and total comprehensive income / loss of its subsidiary for the quarter and year ended 31/03/2026 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) 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 the audit reports of the other auditors on the consolidated financial statements / financial results / financial information of the associates referred to in the Other Matters section below, the Statement:
i. includes the results of the following entities as subsidiary: (a) MM Metals Private Limited;
ii. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and
iii. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India, of the net profit and total comprehensive income and other financial information of the Company for the quarter and year then ended.
MAHENDRA BADJATYA & CO.
208, Morya Centre, 16 Race Course Road, Opposite Basket Ball Complex, Indore 452003 (M.P)
Dial: (0) 0731-2535934, 4078331, Mobile: 9993023823, 7470474605
URL: www.camkb.com, E-mail: [email protected]
CA INDIA
MAHENDRA BADJATYA & CO.
CHARTERED ACCOUNTANTS
Basis for Opinion
We conducted our audit of the financial statements in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (“ICAI”) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.
Management’s Responsibilities for the Financial Results
The Company’s Board of Directors is responsible for the preparation and presentation of these consolidated financial statements that give a true and fair view of the financial position, financial performance including total comprehensive income, changes in equity and cash flows of the Company in accordance with Ind AS 34 and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and 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.
In preparing the financial statements, management is 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 management either intends to liquidate the Company or to cease operations; or has no realistic alternative but to do so.
MAHENDRA BADJATYA & CO.
208, Morya Centre, 16 Race Course Road, Opposite Basket Ball Complex, Indore 452003 (M.P)
Dial: (0) 0731-2535934, 4078331, Mobile: 9993023823, 7470474605
URL: www.camkb.com, E-mail: [email protected]
MAHENDRA BADJATYA & CO.
CHARTENED ACCOUNTANTS
The Board of Directors is responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Financial Results
Our objectives are to obtain reasonable assurance about whether the financial statements 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 statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
-
Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material
MAHENDRA BADJATYA & CO.
208, Morya Centre, 16 Race Course Road, Opposite Basket Ball Complex, Indore 452003 (M.P)
Dial: (0) 0731-2535934, 4078331, Mobile: 9993023823, 7470474605
URL: www.camkb.com, E-mail: [email protected]
MAHENDRA BADJATYA & CO.
CHARTERED ACCOUNTANTS
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 financial statements 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 financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Materiality is the magnitude of misstatements in the financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the financial statements.
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.
We also performed procedures in accordance with Circular No. CIR/CFD/CMD1/44/2019 dated 29th March, 2019 issued by the SEBI under Regulation 33(8) of the Listing Regulations, to the extent applicable.
Other matters
a. The annual financial results include the results for the quarter ended 31st March, 2026 being the balancing figure between the audited figures in respect of the full financial
MAHENDRA BADJATYA & CO.
208, Morya Centre, 16 Race Course Road, Opposite Basket Ball Complex, Indore 457003 (M.P)
Dial: (0) 0731-2535934, 4078331, Mobile: 9993023823, 7470474605
URL: www.camkb.com, E-mail: [email protected]
INDORE
MAHENDRA BADJATYA & CO.
CHARTERED ACCOUNTANTS
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.
b. The accompanying Statement includes the audited financial results of one former subsidiary, whose relationship with the Company was dissolved on March 20, 2026. The included results reflect total revenues of ₹ 134.67 lakhs and ₹ 388.36 lakhs, total profit after tax of ₹ (3.70) lakhs and ₹ (1.55) lakhs, and total comprehensive income of ₹ (3.70) lakhs and ₹ (1.55) lakhs for the quarter and year ended March 31, 2026, respectively (representing operations up to the date of dissolution).
Our opinion on the Statement is not modified in respect of the above matter with respect to our reliance on the work done and the reports of such auditors.
For MAHENDRA BADJATYA & CO.
Chartered Accountants
FRN: 001457C

CA Nirdesh Badjatya
Partner
M.No. 420388
ICAI UDIN: 26420388PHRUMG3792
Date: 30.05.2026
Place: Indore
MAHENDRA BADJATYA & CO.
208, Morya Centre, 16 Race Course Road, Opposite Basket Ball Complex, Indore 452003 (M.P)
Dial: (0) 0731-2535934, 4078331, Mobile: 9993023823, 7470474605
URL: www.camkb.com, E-mail: [email protected]
ITL Industries Limited
ITL/BSE/2026-27/10
May 30, 2026
To,
The BSE Limited
25th Floor, Phiroze Jeejeebhoy Towers
Dalal Street,
MUMBAI-400001
Online Filing at:-listing.bseindia.com
BSE Code: 522183
Sub.; Submission of declaration as per Second proviso to the Regulation 33(3) of the SEBI (LODR) Regulation, 2015 for the Annual Audited Financial Results for the year ended March 31, 2026.
Dear Sir,
We hereby submit the following declaration regarding unmodified Auditors Report on the Audited Financial Results/Statements for the year March 31, 2026 as audited by the Auditors of the Company.
DECLARATION
Pursuant to SEBI (Listing obligation and Disclosure Requirements) Regulations, 2015, and amendments made therein vide SEBI Circular No SEBI/LAD-NRO/GN/2016-17 dated 25th May, 2016 and further amendment dated 27th May, 2016 and Circular No. CIR/CFD/FAC/62/2016 dated 5th July, 2016, We, the undersigned do hereby declare that in the Audit Report, accompanying the Annual Audited Financial Statements (Standalone & Consolidated) of the Company for the financial year ended on March 31, 2026, the Auditor does not expressed any Modified Opinion(s)/ Audit Qualification(s)/ or other Reservation(s) and accordingly the statement on impact of audit qualifications is not required to be given.
You are requested to please consider and take on record the same.
Thanking you
Yours faithfully
For and on behalf of the Board
ITL Industries Limited.

ITL Industries Limited (Since 1985) a BSE listed Public Limited Co, ISO 9001:2015 Certified Company
Address : 111, Sector-B, Sanwer Road, Industrial Area, Indore-452015 (M.P.) BHARAT (India)
Phone :+91 731-7104400-401, Mktg +91 731-7104412-15, Sales +91 731-7104416
E-mail : [email protected], Website : www.itl.co.in. CIN No. : L28939MP1989PLC005037 GSTIN : 23AAACI3932N1ZK