Paradeep Phosphates Limited — Audit Report / Information 2025

May 6, 2025

May 06, 2025

The Asst. Vice President, National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Sandra Kurla Complex, Sandra (E), MUMBAI - 400 051

Department of Corporate Services .-CRD SSE Limited, Floor 25, Phiroze Jeejeehhny Towers, Dalal Street MUMBAI - 400 001

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Dear Sir/Madam,

Company's Scrip Code in SSE : 543530 Company's Symbol in NSE :PAKADEEP ISIN : INE088F01024

Sub: Outcome of the Board Meeting under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015

With reference to the subject mentioned above, we hereby inform you that the Board of Directors of the Company at its meeting held today, May 06, 2025, inter alia, has considered and approved the following:

1. Audited Standalone and Consolidated Financial Results of the Company for the quarter and the year ended March 31, 2025 as recommended by the Audit Committee at its meeting held on May 05, 2025.

2. Recommended a dividend of Rs. 1.00 per equity share of Rs. 10 each for the financial year ended March 31, 2025, which is subject to approval of the members at the ensuing Annual General Meeting.

3. Appointment of Mis. S.S. Sonthalia & Co., Cost Accountants as Cost Auditor of the Company for the Financial Year 2025-26.

4. Appointment of Mis. Protiviti India Member Pr_ivate Limited, as Internal Auditor of the Company for the Financial Year 2025-26.

5. Appointment of M/s. Sunita Jyotirmoy and Associates, Practicing Company Secretaries as Secretarial Auditor of the Company for a term of five years w.eJ. 01.04.2025, subject to approval of the members at the ensuing Annual General Meeting.

The details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are given in Annexure 1.

Please find enclosed copy of the said results along with the Audit Reports given in Annexure 2. Pursuant to the provisions of Regulation 33(3)(d) of the SEBI (LODR) Regulations, 2015, it is hereby declared that M/s. BSR & Co. LLP, Statutory Auditors have issued the Audit Reports for FY 2024-25 with an unmodified opinion.

PARADEEP PHOSHATES LIMITED

', , 0 ' 1� � � GJ � '" � '{;jj ..::;JI :i ' ,

CIN No.: L241290R1981PLC001020

Tel: +91 80 46812500/555 • Email: info-ppl@adventz.com Corporate Office: Adventz Center, 3rd Floor, No. 28, Union Street, Off Cubbon Road, Bengaluru - 560 00 ,

Registered Office: Bayan Bhawan, Pandit J N Marg, Bhubaneswar - 751 001 Tel: +0674 666 6100 • Fax: +0674 2392631

www. paradeepphosphates.com

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The meeting commenced at 2:30 P.M. (1ST) and concluded at 5.00 P.M. (1ST).

Thanking you,

Yours faithfully, For Paradeep Phosphates Limited }A{)t/) Sachin Patil Company Secretary Encl: As above

PARADEEP PHOSHATES LIMITED

CIN No.: L24129OR1981PLC001020

Corporate Office: Adventz Center, 3rd Floor, No. 28, Union Street, Off Cubbon Road, Bengaluru - 560 001 Tel: +91 80 46812500/555 • Email: info-ppl@adventz.com

Registered Office: Bayan Bhawan, Pandit J N Marg, Bhubaneswar - 751 001 Tel: +0674 666 6100 • Fax: +0674 2392631

www. paradeepphosphates.com

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Annexure 1 - Details under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Rei; ulations, 2015

#	Pariculars	Pariculars		Cost Auditor	Internal Auditor		Secretarial Auditor
1	Name	of	the	M/s.S.S. Sonthalia	M/s. Protiviti India		M/s. Sunita Jyotirmoy and
	Auditors			& Co, Cost	Member Private Limited		Associates, Practicing Company
				Accountants			Secretaries
2	Reason		for	Appointment	Appointment		Appointment
	change		viz.
	appointment,
	resignation,
	removal,	death	etc
3	Effective	date	of	Based on the	Based on	the	Based on the recommendation of
	appointment		&	recommendation of	recommendation of	the	the Audit Committee, the Board of
	term		of	the Audit	Audit Committee,	the	Directors at its meeting held today
	appointment			Committee, the	Board of Directors at its		i.e., May 06, 2025 has approved
				Board of Directors at	meeting held today	i.e.,	the appointment of M/s. Sunita
				its meeting held	May 06, 2025	has	Jyotirmoy and Associates,
				today i.e., May 06,	approved	the	Practicing Company Secretaries
				2025 has approved	appointment of	Mis.	as Secretarial Auditor of the
				the appointment of	Protiviti India Member		Company for a term of 5 years
				M/s. S.S. Sonthalia	Private Limited,	as	w.e.f. April 01, 2025, subject to
				& Co. Cost	Internal Auditor of	the	approval of the members at the
				Accountants as	Company for	the	ensuing Annual General Meeting.
				Cost Auditor of the	Financial Year 2025-26.
				Company for the
				Financial Year
				2025-26.
4	Brief profile			M/s. S.S. Sonthalia	Protiviti is a global		M/s. Sunita Jyotirmoy and
				& Co. is one of the	consulting firm	that	Associates is a Practicing
				leading Cost and	delivers deep expertise,		Company Secretaries firm with 3
				Management	objective insights,	a	partners, having an experience of
				Accounting Firm	tailored approach	and	over 20 years, in the fields of
				which is Registered	unparalleled		Corporate Laws, Corporate
				with Institute of Cost Accountants of India	collaboration to leaders confdently	help face	Consultancy, Legal Advisory serices, Legal Due diligence and
				(ICAI). They provide Cost Accounting Serices, Cost Audit Serices,	the future. Their consulting solutions span critical business problems in technology,		Corporate Governance, Advising on impor / expor regulations, Intellectual Properies Acts, Labour Laws & Environmental
				Management Serices, Financial	digital, business process, analytics, risk,		Acts and Taxation Acts etc.
				planning	compliance, transactions
				Consultancy, etc.	and internal audit.
5	Disclosure		of	N.A.	N.A.		N.A.
	relationships beteen Directors
	(in case		of
	appointment		of
	director).
PARADEEP PHOSHATE LIMITED CIN No.: L241290R1981PLC001020 Corporate Office:Adventz Center, 3rd Floor, No. 28, Union Street, Off Cubbon Tel: +91 80 46812500/555 • Email: info-ppl@adventz.com							!1e 0 Road, Bengaluru- .·_. �

Registered Office: Bayan Bhawan, Pandit J N Marg, Bhubaneswar - 751 001 Tel: +0674 666 6100 • Fax: +0674 2392631 www. paradeepphosphates.com

Annexure - 2

BS R & Co. LLP Chartered Accountants

Godrej Waterside, Unit No. 603 6th Floor, Tower 1, Plot No 5, Block - DP Sector V, Salt Lake, Kolkata - 700091 Tel: +91 33 4035 4200 Fax: +91 33 4035 4295

Independent Auditors Report

To the Board of Directors of Paradeep Phosphates Limited Report on the audit of the Standalone Annual Financial Results

Opinion

We have audited the accompanying standalone annual financial results of Paradeep Phosphates Limited (hereinafter referred to as the "Company") for the year ended 31 March 2025, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (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, the aforesaid standalone annual financial results:

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

• b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive loss and other financial information for the year ended 31 March 2025.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Standalone Annual 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 financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the standalone annual financial results.

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

These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual financial results that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act 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 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

Registered Office:

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14th Floor. Central B \Mng and North C \JVing, Nesco IT Perk 4 Nesco Center, Western Express Highway, Goregaon (Easl), Mumbai - 400063 Page 1 of 3

BS R & Co. (a par'lnt'f'lhlp fltmW tl Rogislration No. BA61223) converted Into BS R & Co LLP (a Limited Liability P1u1nct.flhip '"''h LLP Registration No. AAB-8181) "Mlh effect fl"om October 14, 2013

BS R & Co. LLP

Independent Auditor's Report (Continued) Paradeep Phosphates Limited

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

The Board of Directors is/are responsible for overseeing the Company's financial reporting process.

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

Our objectives are to obtain reasonable assurance about whether the standalone annual 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 annual 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 annual 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 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 in the standalone annual financial results made by the Management and Board of Directors.

• Conclude on the appropriateness of the Management's and 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 appropriateness of this assumption. 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 annual 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 annual financial results, including the disclosures, and whether the standalone annual 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.

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Page 2 of 3

8 SR & Co. LLP

Independent Auditor's Report (Continued) Paradeep Phosphates Limited

Other Matter

• The standalone annual financial results include the results for the quarter ended 31 March 2025 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.

• a.

For B S R & Co. LLP Chartered Accountants Firm's Registratio��1248W/W-100022

Bengaluru 06 May 2025

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Membership No.: 055757 UDIN:25055757BMNSHB7863

Page 3 of 3

PARADEEP PHOSPHATES LIMITED

Regd. Office: 5th l'loor, Bayan Bhawan, Pt J N Marg, Bhubaneswar -751 001, CIN -L241290Rl981 PLC001020 STANDALONE BALANCE SHEET

STANDALONE BALANCE SHEET
	_I_Rs. In Croress)
Particulars	As at 31 March 2025 /Audited)	As at 31 March 2024 <Auditedl
ASSETS I. Non-current assets (a)Property. plant and equipment (b) Right-of-use assets (c)Capital work-in-progress (d) Goodwill (e)Intangible assets (f)Investment in associate (g)Income tax assets (net) (h)Other non-current assets Total non-current assets II. Current assets (a)Inventories (b)Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Other fnancial assets (c) Other current assets (d) Asset classifed as held for sale Total current assets Total assets (1+11) EQUITY AND LIABILITIES I.Equity (a)Equity share capital (b) Other equity Total equity II. Liabilities (1) Non-current liabilities (a)Financial Liabilities (i) 801Towings (ii) Lease liabilities (iii) Other financial liabilities (b)Provisions (c)Deferred tax liabilities (net) Total non-current liabilities (2) Current liabilities (a)Financial Liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade Payables a) Total outstanding dues of micro enterprises and small enterrises (b) (c) (d) b) Total outstanding dues of creditors other than micro enterprises and small enterprises (iv) Other financial liabilities Other current liabilities Provisions Current tax liabilities Total current liabilities Total Liabilities Total equit and liabilities (1+11	3.27268 15.53 553.30 58.07 2.36 3.66 52.66 64.48	3,353.18 1791 37219 58.07 1.84 3.66 59.50 38.29
	4,022.74	3,904.64
	2.286.99 269.10 2.534 69 873.73 30.07 528.69 600.64	1.830 83 - 2.720.48 90.72 27.31 504.19 583.14 0.23
	7,123.91	5,756.90
	11,146.65 815.21 3.261.99	9,661.54 814.78 2.750 03
	4,077.20	3,564.81
	622.21 15.87 0.87 26.67 177.60	676.51 17.22 - 26.21 150.85
	843.22	870.79
	3.718.54 1.84 29.28 1.999 01 251.41 122.69 80 01 23.45	3.317 87 2.11 9.30 1.478 83 224.55 120.20 72.85 0.23
	6,226.23	5,225.94
	7,069.45	6,096.73
	**11,146.65 **	9,661.54

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PARADEEP PHOSPHATES LIMITED

Regd. Office: 5th Floor, Bayan Bhawan, Pt J N Marg, Bhubaneswar -751 001, CIN -L2[.] al29ORl98I PLC001020 STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2025

			(Rs inCrores)	(Rs inCrores)	(Rs inCrores)	(Rs inCrores)	(Rs inCrores)
Sr No	Parliculars		Quarter ended Quarter ended JI March 2025 J 1 December· 2024 Quarter ended Year ended J 1 March 2024 JI March 2025				Year ended 31 March 2024
			Audited	Unaudited Audited		Audited	Audited
I 2 3 4 5 6 7 8 9 10	Income (a)Revenue fom operations lb)Other Income		3,494 02 4.104.92 42.13 35 15 2,242 74 13.820 21 30 03 111 40				11,575 12 68.84
	Total income		3,536,15 4,140.07 2,272.77 13,931.61				11,643.96
	Expenses (a) Cost of raw materials consumed (blPurchase of stock-in-trade (C)Change in inventories of finished goods, stock-in-trade and work m progre (dlEmployee benefits expense (e)Fmance costs (f)Depre1at1on and amortisation expense (g) Other exoenses # Total exoenses		2,476.33 2,234.33 140,97 476 98 I 105 55) 462.57 68 92 60 69 103 10 86 43 63 13 64 82 566 28 534.04 1,537 55 8,660 41 15.50 1,655 25 96,58 (82 65) 57 88 249 10 95 27 362 29 57 81 251 81 387.14 2,082.26 7,609.04 1,055.09 334.32 229 79 366.03 210 67 1,698.86
		tal exoenses	3,313.18 3,919.86		2,247.73	13,178.47 11,503.80
	P1·	ofi1 before lax(1-2)	222.97 220.21		25,04	753.14 140.16
	Tax expense (a) Current tax ib)Income tax (credit)/charge of erlier penod/years (c)Defrred tax charge/(credit) Total tax expense (a+b+c) Proft for the period/year (3-4) Other comprehensive income/(loss) (net of tax) A llems that will not be reclassified to profit or loss in subsequent period/year, net of tax Re-measurement gains/(losses) on defined benefit plans Income tax effect on above		60 57 51 36 3 55 (I 62) (I 18) 11 78 62.94 61.52 160.03 158.69 (3 65) (0.17) 0.92 0 05		(4 84) (280) 1:.38 4,74 20.30 I I 20) 0.30	177 19 (4 79) 28 23 200.63 552.51 (5 86) 1.48 (2 80) 43 72 40.92 99,24 (2 59) 0.65
		Total other comprehensive loss	(2.73)	(0.12)	(0.90) 19.40	(4.38) (1.94)
	To	tal comprehensive income fr the period/year, net of tax(5+6)	157.30	158,57		548.13 97.30
	Pai Ot	d up equity share capital(nominal value of Rs.10 each) hereuity				815 21 3,261 99 814 78 2,750.03
	Earnings per equity share(EPS) (Rs.10 each)* (a) Bas1c(in Rs.) (b) Diluted(onRs.)		I 96 I 96	I 95 194	0 25 0 25	6 78 6.77 122 I 22
	"[unmg 11cr cqmt� share ([PS) for the quarters ended JI March 2025, JI December 202� a # includes donation of Rs.15 crores made to an electoral trust during the year end		nd JI March 20H Il not anuuahscd. ed 31 March 2025.

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PARA DEEP PHOSPHATES LIMITED

Regd. Office: 5th Floor. Bayan Bhawan, Pt J N Marg, Bhubaneswar -751 001, CIN -LHl29ORl981 PLC001020 STANDALONE STATEMENT OF CASH FLOWS

		(Rs in Crores)	(Rs in Crores)
A. Cash Oows from operating activities Profit before tax Adj11 .. ·tment.\for Depreciation and amortisation expense F mance costs Interest income Proft on sale of current investments Loss on sale / discard of property .plant and equipment (net) Loss allowance Bad debts. claims and advances written off Unspent liabi!ittes/provision no longer required written back Foreign exchange nuctuation loss/gam unrealized (net) Expenses on account of share based payment Operating cash flow before working capital changes Changes in working capital (lncrease)/decrease in inventories Decrease in trade receivables Decrease/(increase) in financial and other assets lncrease/(decrease) in trade payables and other current liabilities lncrease/(decreasc) in provisions Cash generated from operating activities Less: Income taxes paid (net of refunds) Net cash generated from operating activities (A) B. Cash fows from investing activities Proceeds from sale of property. plant and equipment Acquisition of property, plant and equipment, including capita! work m progress. capital advances and capital creditors Investments m current investments - mutual funds Proceeds from sale of current investments - mutual funds Interest received Investment in / proceeds from deposits with maturity of more than three months Net cash used in investing activities (8) C. Cash nows fom fnancing activities Proceeds from issue of share capital Proceeds from non-current borrowings Repayment of non-current borrowings Proceeds fom current borrowings Repayment of current borrowmgs Dividend paid Repayment of lease liabilities mcluding mterest thereon Interest paid Net cash used in fnancing activities (C) Net increase in cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the year Cashand casheQuivalents at the end of the year	For the year en JI March 202 (Audited)	ded 5	For the year ended 31 March 2024 (Audited)
		753.14 251 81 329.17 I I 8 2 I I (3 I 88) 15 77 9.42 3 89 I 10 39) 0 95 1.37	140 16 210.67 321.28 (6 26) I I 12) 24 31 7 98 0.34 (38 50) I 80
		1,306.04 (456 16) I 75 14 (44 87) 546.43 1.76	660.66 406.85 964 30 I 106 96) (41242) II 7 32)
		1,528.34	1,495.11
		(142 34)	(58 36)
		1,386.00 015 (368 65) (6.195.98) 5.958 76 18.41 (9 40)	1,436.75 0 39 (41150) I 1.268 05) 1.269 17 3.73 39.42
	( 1	(596.60) 2.65 46193 (575 69) 12.972.28 2.524 07) (40 74) (304) (299 71)	(366.84) _3_04 46106 (373.08) 18.458.00 ( 19.198 03) (40.74) (2 87) (329 60)
		(6.39) 783.01 90.72	(1,022.22) 47.69 43.03
		873.73	90.72

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Notes:

• I The above standalone financial results of Paradeep Phosphates Limited ('·the Company") have been prepared in accordance with Indian Accounting Standards (""Ind AS"") prescribed under Section I 33 of the Companies Act, 20 I 3 ( ·the Act") read with the relevant rules thereunder and in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 20 I 5.

• 2 Pursuant to the scheme of merger dated 07 February 2024, subsequently modified on 25 November 2024, the Board considered and approved a composite scheme of arrangement amongst Mangalore Chemicals & Fertilizers Limited ("Transferor Company"). the Company and their respective creditors and shareholders ("Scheme"), under Sections 230 to 232 of the Companies Act, 20 I 3 ("Companies Act") and other applicable laws. for, inter alia, the amalgamation of the Transferor Company with and into the Company by way of a merger. Necessary accounting effect of the scheme would be given in due course upon receipt of requisite approvals.

• 3 The figures for the quarters ended 31 March 2025 and 31 March 2024 are the balancing figure between audited figures in respect of the financial years ended 31 March 2025 and 31 March 2024 and the year to date figures upto the third quarter o the respective financial years. The aforesaid year to date figures upto the third quarters were subject to Limited Review.

• 4 The Company" s operations fall within a single business segment --Fertilisers and Other Trading Materials". Hence, no separate segment information is disclosed.

• 5 The Board has recommended a dividend of Rs. 1.00 per equity share of Rs. IO each fully paid up, subject to the approval o the shareholders at the ensuing Annual general meeting.

• 6 The above standalone financial results were reviewed by the audit committee and approved by the Board of Directors in their respective meetings held on 5 May 2025 and 6 May 2025 respectively.

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For and behalf of Board of Directors of Paradeep Phosphates Limited 2J )<,"�\vv-� N. Suresh Krishnan Managing Director (DIN:0021965) Date - 6 May 2025 Place : Ben aluru

Chartered Accountants

BS R & Co. LLP

Godrej Waterside, Unit No. 603 6th Floor, Tower 1, Plot No 5, Block - DP Sector V, Salt Lake, Kolkata - 700091 Tel: +91 33 4035 4200 Fax: +91 33 4035 4295

Independent Auditors Report

To the Board of Directors of Paradeep Phosphates Limited Report on the audit of the Consolidated Annual Financial Results

Opinion

We have audited the accompanying consolidated annual financial results of Paradeep Phosphates Limited (hereinafter referred to as the "Company") and its associate for the year ended 31 March 2025, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (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, the aforesaid consolidated annual financial results:

• a. include the annual financial results of the following entities:

• Paradeep Phosphates Limited

• Zuari Yoma Agri Solutions Limited, the associate of the Company

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

• c. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of consolidated net profit and other comprehensive loss and other financial information of the Company for the year ended 31 March 2025.

Basis for Opinion

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

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

These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these consolidated annual financial results that give a true and fair view of the consolidated net profiU loss and other comprehensive income and other financial information of the Company including its associate in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the

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Registered Office

8 SR & Co. (a piHtM��p lrm wilh Registralion No. BA6122J) converted inlo 8$ R J. Co LLP (a limited Liability P,1r1oorship.�lh LLP Registration No. MB-8181) 'Mlh efrect fr'omOc.Iober 14, 2013

14th Floor, Central B Wng and Not1h C Wing, Nesco IT Park 4, Nesco Cen1er. Western Express Highway, Goregaon (East), Mumbai• ◄00063 Page 1 of 3

BS R & Co. LLP

Independent Auditor's Report (Continued)

Paradeep Phosphates Limited

Listing Regulations. The respective Management and Board of Directors of the Company and of its associate are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of 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 annual 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 annual financial results by the Management and the Board of Directors of the Company, as aforesaid.

In preparing the consolidated annual financial results, the respective Management and the Board of Directors of the Company and of its associate are responsible for assessing the ability of each company 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 company or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the Company and of its associate is responsible for overseeing the financial reporting process of each company.

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated annual 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 ii 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 annual 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 annual 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 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 in the consolidated annual financial results made by the Management and Board of Directors.

• Conclude on the appropriateness of the Management's and 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 appropriateness of this assumption. lf 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 annual 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 and its associate to cease to continue as a going concern.

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• Evaluate the overall presentation, structure and content of the consolidated annual financial results, including the disclosures, and whether the consolidated annual financial results represent the

Page 2 of 3

BS R & Co. LLP

Independent Auditor's Report (Continued)

Paradeep Phosphates Limited

underlying transactions and events in a manner that achieves fair presentation.

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

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

We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

Other Matters

• a. The consolidated annual financial results include the Company's share of net loss after tax of Rs. 0.72 crore for the year ended 31 March 2025, as considered in the consolidated annual financial results, in respect of its associate. This unaudited financial information has been furnished to us by the Board of Directors.

Our opinion on the consolidated annual financial results, in so far as it relates to the amounts and disclosures included in respect of this associate is based solely on such financial information. In our opinion and according to the information and explanations given to us by the Board of Directors, this financial information is not material to the Company.

Our opinion on the consolidated annual financial results is not modified in respect of the above matter with respect to the financial information certified by the Board of Directors.

• The consolidated annual financial results include the results for the quarter ended 31 March 2025 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.

Bengaluru 06 May 2025

For B S R & Co. LLP Chartered Accountants Firm's Registration �01248W/W-100022 -�ay Partner Membership No.: 055757 UDIN:25055757BMNSHC5049

Page 3 of 3

PARAOEEP PHOSPHATES LIMITED

Regd. Office: 5th Floor, Bayan Bhawan, Pt J N Marg, Bhubaneswar -751 001, CIN -L24129ORl981 PLC001020 CONSOLIDATED BALANCE SHEET

	/Rs. In Crores)	/Rs. In Crores)
Particulars	As at As at 31 March 2025 31 March 2024 /Audited** /Audited) 3.272.68 3,353.18 15.53 17.91 553.30 372.19 58 07 58.07 2.36 1.84 3.34 3.25 52.66 59.50 6448 38.29 4,022.42 3,904.23**
ASSETS I. Non-currentassets (a)Property, plant and equipment (b) Right-ofuse assets (c)Capital work-in-progress (d)Goodwill (e)Intangible assets (f)Equity accounted investment (g)Income tax assets (net) (h) Other non-current assets Total non-current assets 11. Current assets (a)Inventories (b)Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Other fnancial assets (c)Other current assets (d)Asset classified as held for sale Total current assets Total assets (1+11) EQUITY ANO LIABILITIES I. Equity (a)Equity share capital (b)Other equity Total equity 11. Liabilities (1) Non-current liabilities (a)Financial Liabilities ( i)Borrowings (ii)Lease liabilities (iii) Other financial liabilities (b)Provisions (c)Deferred tax liabilities (net) Total non-current liabilities (2) Current liabilities (a)Financial Liabilities (i)Borrowings (ii) Lease liabilities (iii) Trade Payables a) Total outstanding dues of micro enterprises and small enterprises b) Total outstanding dues of creditors other than micro enteivrises and small enterprises (iv) Other financial liabilities (b)Other Cll1Tent liabilities (c)Provisions (d)Current tax liabilities Total current liabilities Total Liabilities Total eouit and liabilities 11+11)
	2.286 99 269.10 2.534.69 873.73 30.07 528.69 600.64	1.830.83 2.720.48 90.72 27.31 504.19 583.14 0.23
	7,123.91	5,756.90
	11,146.33 815.21 3.261.67	9,661.13 814.78 2.749 62
	4,076.88 3,564.40
	622.21 676.51 15.87 17.22 0.87 - 26.67 26.21 177.60 150.85
	843.22 870.79
	3.718 54 3.317.87 1.84 2.11 29.28 9.30 1.999.01 1,478.83 251.41 224.55 122.69 120.20 80.01 72.85 2345 0.23
	6,226.23 5,225.94
	7,069.45 6,096.73
	11,146.33 9,661.13

==> picture [79 x 79] intentionally omitted <==

	PARAOEEP PHOSPHATES LIMITED RcA<l. Offkc: 5th Flour, Bay:n Bh:wan, Pt J N M:ir,!, Bhub:ineswar-751 001, CIN -L:U290Rl9HIPLCOOIU20 CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH JI, 2025 (Rs in Crurl�)	PARAOEEP PHOSPHATES LIMITED RcA<l. Offkc: 5th Flour, Bay:n Bh:wan, Pt J N M:ir,!, Bhub:ineswar-751 001, CIN -L:U290Rl9HIPLCOOIU20 CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH JI, 2025 (Rs in Crurl�)
~~s,~~ No	P:irtkul:in Qu:irtl'rln<ll<l Qu:ir1l'r ln<ll'<l Qu:irler lmlcd JI Marrh 21125 JI 01n-mhl'r 2112- JI Manh 2112- JI Manh 2025 JI March :UH Autlilld Unaudill<l Audited Audilld Autlill'ti
I J -I 5 ') to 11 12 IJ	lncoml' ta) lk\"cnu, frnm opcrlltH1S {h) Other ln, omc .l.--194 02 -2.1\ -1.10-1 '>2 )515 2.2-2 7- 1l.820 21 111 -0 11.57512
	J,53(,.15 -,1- 1117 2,2777 IJ,')JJ.61 11,6-3.%
	Expcnn·� (:1> C,1s1,,fr11 nrlcrmls.r1Suml'll (h) l'urch:1scnfsh,cl-m-lrnJc IC) Ch.mic m 111\'cnloncs <11" limshcJ goo<ls. Sl<>cl. -m-tr;llk ,mJ 1,orl in proi-!rcss 1J1l'111plo_1cchcnclilsnpl'nsl' (C) FumnllCllStS I l"l lkprccwl1<manJ .1111ort1sution C\pl'n�l' (') OthcTC\JCnscs# 2.-7(,..' 1-11197 (105 55) 2.2J-1n -7(,')X -62 57 l.5.755 1550 %5X 57XX 95.27 57.8! .\X?l-1 ,V,<,0-11 !.655 25 (X2(,S) .-19 j() Y,229 251XI 2.oX2 2<, 7.(,0')IJ- 1.0551)9 22').79 J((,()J 211)(,7 **IN)X.� **
	J,JIJ.IH J.'Jl'J.H6 2.2-7.73 IJ,17H.-7 \ \,503.HO
	Profit hl'forl ,hare ofrrufit/(los�) from a\rdall'(1-2) Share ofrin,fit/(lnn) frum a!isocialc Prufil bl:furl' ta�(J+-1) 1h1 lnt1>ml t:1\ (cr1:t1t )fch,ir�l' nfcurhcr pcn,,J/\l'urs \Cl l:li..TL'll ta,di1r�C/(.R-lll! Total tax c,(ll'ml (a+h+c) Profit for the pcriod/�·lar tS-6) Oth\T compn:hlnshc incomc/(loH) {net ur In) A 11ms that will he rcclauifilll tu proft or lo�, E,changc J1ffcn:ncl'S ,in 1an�lat1on uf foeign 11pcat1111ts B 11ms that l\ill nut he rcdasiificll to profit or Jos\ in suhw11ucnl pcriod/ylar, nlI of tax Rc-mcasunmlnt �ams/th•ssl'S),in Jl'liiwJ h:11ctit pl;1ns lnc,Hnci:i, effect on ahJ\'l 222 97 222.97 (,057 >55 cl IS> <,!.')- 160.IJJ (llOI) 1)1)2 220 21 (Jt)(, 220.27 51 >6 ti(,:) J l 7X 61.52 158.75 001 0115 251)-1 2(,.2- -1.7- 21.50 ti:()) 75>l-1 (0 721 752.-12 177 19 (-179) 2011.(,J 551.7') 1-1()[(, 1)(,7 I-Ill.HJ (2 :)! -1. 72 -0.n ?'?I i057) 12591 (J(,5
	Total olhlr rmpn:hensh"l' Ion (2.7�)	(II.II) (2.08) (J.57)
	Total comprchcnsh·l incoml for lhl' plriud/�·l'ar, ncl nf ta�(7+8) Profit attributahll to: ()11ncr-sorthc.1impam Olhl'r rnmprlhensh·l incomc altribulahlc lo: <>1111crs11rthc c,unpan** Total comprchl'nsh·e incumc attributable lo: ()\11crs,,fthc.:111npam PiuJ up c11u1t1 sh;1rl capl1;1l(nnn1111al 1·.luc ofl{s Ill e;u.:hl Otherc1u * EarninJ!s (k'fl•quit� \h:in•(EPSJ (Rs.JO each)• 1:nBas1c\1n Rs 1 (hJl>1Ju1eJ1mR.� 1 l:7.2' 1(,01)_1 j•)(, I 96*	15X75 (0 I!! 15X(>- I 95 1')- 19.--42 ]')-12 551 79 5-X.2 Sl: 21 .>.2(,](,7 (, 77 (,1(, 'J7.-0 ')991 97 -40 )!J-7k 2.7-')62 122
	•bimmi p1,rl11 u11� �an If.I'S) for thl· quartcr lntkd JI \lrth 2111�. JI O,,nmb.:r 102� and JI \hnh 2112-,s not anuu;,USW.

• # Includes donation of Rs.15 crores made to an electoral trust durln1 the year ended 31 March 2025.

==> picture [77 x 76] intentionally omitted <==

PARA DEEP PHOSPHATES LIMITED

Rcgd. Office: 5th Floor, Bai•an Bhawan, Pt J N Marg, Bhubaneswar-751 001. CIN -L2-!129ORl981PLC001020 CONSOLIDATED STATEMENT OF CASH FLOWS

	(Rs. in Crores)	(Rs. in Crores)
	For the year ended JI March 2025 (Audited)	For the year ended 31 March 2024 (Audited)
A. Cash nows from operating activities Profit before tax Adustmentrfor Depreciation and amor1sa11on expense Finance costs Interest income Profit on sale of current investments Loss onsale/discard of property.plant and equipment tnet} Loss allowance Bad debts. claims and advances written of Unspent liab1ltties/provis1on no longer required wntten back Foreign exchange fuctuation loss/gain unrealized (net) Expenses on account of share based payment Share of(profit)/loss fom associate Operating cash flow before working capital changes Changes in working capital {lncrease)/decrease in inventories Decrease m trade receivables Decrease(mcrease) m financial and other assets lncrease/(decrease) m trade payables and other current liabilities lncrease/(decrease) m provisions Cash generated from operating activities Less.Income taxes paid (net of refunds) Net cash generated from operating activities (A) B. Cash flows fom investing activities Proceeds from sale of property. plant and equipment Acquisition of properly. plant and equipment. including capital work in progress. capital advances and capital creditors Investments in current investments • mutual funds Proceeds fom sale of current investments• mutual funds Interest received Investment m/proceeds from deposits with maturity of more than three months Net cash used in investing aclivities (B) C. Cash flows fom financing 1tctivities Proceeds fom issue of share capital Proceeds from non·current borrowmgs Repayment of non·current borrowmgs Proceeds from current borrowings Repayment of current borrowings Dividend paid Repayment of lease liab1l1ties including interest thereon Interest paid Net cash used in fnancing activities (C) Net increase in cash and cash equivalents (A+B+C) Cash and cash equivalenls at lhe beginning of the year Cash and cash eauivalenls al lhe end of the vear	75: 4: 251 81 329.17 I 18 2 I) 13 I88) I 5 77 9.42 3 89 ( 10 39) 0.95 1.37 0.71 1,306.04 (456 16) 175 14 (44.87) 546 43 I 76 1-0 83 210 67 321.28 (6 26) (I 12) 24 31 7 98 0 34 (38.50) I 80 (0 67) 660.66 406 85 964.30 (106%) (412.42) II 7 32)
	1,528.34	l,-95.11
	I14134) (58 36)
	1,386.00 0.25 (368 65) (6.195 98) 5.958 76 18 42 (9.40) l.-36.75 0.39 (411.50) ( 1.268 05) 1,269 17 J73 39 42
	(596.60) 2 65 461.93 (575 69) 12.972 28 I I 2,524.07) (40.74) (3 04) (299 71) (366.84) 3 04 461.06 (373 08) 18.458.00 I 19.198 03) (40 74) (187) (329 60)
	(6.39) 783.01 90 72	(1,022.22) �7.69 43.03
	873.73	90,72

==> picture [78 x 78] intentionally omitted <==

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Notes:

• I The above consolidated financial results of Paradeep Phosphates Limited ("·the Company'·) have been prepared in accordance with Indian Accounting Standards ( .. Ind AS.') prescribed under Section 133 of the Companies Act. 2013 ( ·the Act") read with the relevant rules thereunder and in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations.2015.

• 2 Pursuant to the scheme of merger dated 07 February 2024. subsequently modified on 25 November 2024. the Board considered and approved a composite scheme of arrangement amongst Mangalore Chemicals & Fertilizers Limited ("Transferor Company"). the Company and their respective creditors and shareholders ("Scheme"). under Sections 230 to 232 of the Companies Act, 2013 ("Companies Act") and other applicable laws, for. inter alia. the amalgamation of the Transferor Company with and into the Company by way of a merger. Necessary accounting effect of the scheme would be given in due course upon receipt of requisite approvals.

• 3 The figures for the quarters ended 31 March 2025 and 31 March 2024 are the balancing figure between audited figures in respect of the financial years ended 31 March 2025 and 31 March 2024 and the year to date figures upto the third quarter o the respective financial years. The aforesaid year to date figures upto the third quarters were subject to Limited Review.

• 4 The Company·s operations fall within a single business segment --Fertilisers and Other Trading Materials". Hence, no separate segment information is disclosed.

• 5 The Board has recommended a dividend of Rs. 1.00 per equity share of Rs. 10 each fully paid up, subject to the approval o the shareholders at the ensuing Annual general meeting.

• 6 The above consolidated financial results were reviewed by the audit committee and approved by the Board of Directors in their respective meetings held on 5 May 2025 and 6 May 2025 respectively.

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For and behalf of Board of Directors of Paradeep Phosphates Limited .l[J\<v��� ] N. Suresh Krishnan Managing Director (DIN:002 I 965) Date - 6 May 2025 Place : Ben aluru