Sirca Paints India Limited — Annual Report 2026

May 7, 2026

Sirca
WOOD COATINGS (ITALY)
SIRCA PAINTS INDIA LIMITED
G-82, Kirti Nagar, Delhi-110015
011-42083083 info@sircapaints.com
www.sircapaints.com
CIN NO : L24219DL2006PLC145092

May 07, 2026

| To,
The Managing Director
National Stock Exchange of India Limited
Exchange Plaza, 5th Floor, Plot No. C/1
G-Block, Bandra-Kurla Complex, Bandra (E)
Mumbai - 400051
NSE Symbol: SIRCA | To,
The General Manager
BSE Limited
Department of Corporate Services
Phiroze Jeejeebhoy Towers, Dalal Street,
Mumbai - 400001
BSE Scrip Code: 543686 |
| --- | --- |

SUB: OUTCOME OF BOARD MEETING HELD ON MAY 07, 2026

Dear Sir/Ma’am,

Pursuant to Regulation 30 read with Part A of Schedule III & Regulation 33 of the SEBI (Listing Obligations & Disclosures Requirements) Regulation, 2015 we would like to inform you that the Board of Directors of the Company has, at its meeting held on Thursday, 07th May, 2026 (i.e. Today), which commenced at 02:30 P.M. and concluded at 3:15 P.M. inter-alia, considered and approved:

• Audited Standalone and Consolidated Financial Results of the Company for the year ended as on 31st March, 2026

[Pursuant to Regulation (33) (3)(d) of the SEBI Listing Regulations Copy of the said results along with the Audit Report thereon by M/s Rajesh Kukreja & Associates, Chartered Accountants, Auditors of the Company, is submitted herewith.

• The Board has recommended final dividend @ 20% i.e. Rs. 2/- (Rupees Two only) per equity share of the face value of Rs 10 each for the financial year 2025-26 subject to approval of Shareholders at the ensuing 21st Annual General Meeting (AGM);

The date of 21st Annual General Meeting, the record date to determine the eligibility of shareholders for payment of dividend and the date of payment will be intimated separately.

This is for your information and records

Thanking you,

Yours faithfully

For Sirca Paints India Limited

Hira Kumar
Digitally signed by
Hira Kumar
Date: 2026.05.07
15:22:35 +05'30'

Hira Kumar
Company Secretary & Compliance Officer

Encl: As above

Your Italian Autograph.

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CA

RAJESH KUKREJA & ASSOCIATES

CHARTERED ACCOUNTANTS

211, LSC, POCKET-B, ASHOK VIHAR

PHASE-III, DELHI - 110052

TEL: 9310910099

E-mail: ca.rk@hotmail.com

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL STANDALONE FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF

SIRCA PAINTS INDIA LIMITED

Opinion and Conclusion

We have (a) audited the Standalone Financial Results for the year ended March 31, 2026 and (b) reviewed the standalone financial results for the quarter ended March 31, 2026 (refer ‘Other Matters’ section below) which are subject to limited review by us, both included in the accompanying “Statement of Standalone Financial Results for the Quarter and Year Ended March 31, 2026” of SIRCA PAINTS INDIA LIMITED, (“the Company”), (“the Statement”) being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“the Listing Regulations”).

(a) Opinion on Annual Standalone Financial Results

In our opinion and to the best of our information and according to the explanations given to us, these Standalone Financial Results for the year ended March 31, 2026:

i) is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

ii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards (“Ind AS”) specified under section 133 of the Companies Act 2013 (“the Act”) read with relevant rules issued thereunder and other accounting principles generally accepted in India, of the Standalone net profit after tax and total comprehensive income and other financial information of the Company for the year ended March 31, 2026.

(b) Conclusion on Unaudited Standalone Financial Results for the quarter ended March 31, 2026

With respect to the Standalone Financial Results for the quarter ended March 31, 2026, based on our review conducted as stated in paragraph (b) of Auditor’s Responsibilities section below, nothing has come to our attention that causes us to believe that the

SIRCA PAINTS INDIA LIMITED

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RAJESH KUKREJA & ASSOCIATES
CHARTERED ACCOUNTANTS
CONTINUATION SHEET

Standalone Financial Results for the quarter ended March 31, 2026, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

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

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those Standards are further described in the Auditor’s Responsibilities section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the Standalone Financial Results for the year ended March 31, 2026 under the provisions of the Act and the Rules there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of Management and Those charged with Governance for the Statement

This Statement, which includes the Standalone Financial Results is the responsibility of the Company’s Board of Directors and has been approved by them for the issuance. The Statement has been compiled from the related audited standalone financial statements for the year ended March 31, 2026, and interim financial information for the quarter ended March 31, 2026 being the balancing figure between audited figures in respect of the full financial year and the unaudited year to date figures up to the third quarter of the current financial year. This responsibility includes the preparation and presentation of the Statement that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate

FIRM SCRAB BANK & ACCOUNTANTS
50000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

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RAJESH KUKREJA & ASSOCIATES
CHARTERED ACCOUNTANTS
CONTINUATION SHEET

accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.

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

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

Auditor’s Responsibilities

(a) Audit of the Standalone Financial Results for the year ended March 31, 2026

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results for the year ended March 31, 2026 as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Standalone Financial Results.

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

• Identify and assess the risks of material misstatement of the Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is

S.A.S.

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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 control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
• Conclude on the appropriateness of the Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Standalone Financial Results, including the disclosures, and whether the Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the Standalone Financial Results of the Company to express an opinion on the Standalone Financial Results.

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

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

FRIENDSHIP
FRIDAYMAN
M NO. 053496
New Delhi

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(b) Review of the Standalone Financial Results for the quarter ended March 31, 2026

We conducted our review of the Standalone Financial Results for the quarter ended March 31, 2026 in accordance with the Standard on Review Engagements (“SRE”) 2410 ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’, issued by the ICAI. A review of interim financial information consists of making inquiries, primarily of the Company’s personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with SAs specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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

Other Matter

• The Statement includes the results for the Quarter ended March 31, 2026 being the balancing figure between audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year, subject to limited review by us. Our report on the Statement is not modified in respect of this matter.

RAJESH KUKREJA & ASSOCIATES
Chartered Accountants
Firm Regn No.:- 0004254N

RAJESH KUKREJA
Partner
M.No-083496
UDIN: 26083496CCEMGA5410

Place: Delhi
Date: 07/05/2026

SIRCA PAINTS INDIA LIMITED
Registred Office:- G-82, Kirti Nagar, West Delhi-110015
CIN-L24219DL2006PLC145092

AUDITED STATEMENT OF STANDALONE FINANCIAL RESULTS

FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026

(₹ in Lakh Except Equity Share Data)

Sl. No.	Particulars	Quarter Ended			Year Ended
		31.03.2026	31.12.2025	31.03.2025	31.03.2026	31.03.2025
		(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
1	Income
	a. Revenue from Operations	13,429.16	11,278.60	10,092.48	49,248.41	37,367.93
	b. Other Income	121.78	139.45	99.95	386.62	516.32
	Total Income	13,550.95	11,418.05	10,192.44	49,635.03	37,884.24
2	Expenses
	a. Cost of Material Consumed	5,364.87	4,994.65	2,590.39	20,033.68	10,977.36
	b. Purchase of stock-in-trade	2,060.40	858.02	2,409.92	5,590.67	10,097.17
	c. Change in inventories of stock-in-trade	(19.47)	259.96	136.94	1,046.59	(1,124.23)
	d. Employee Benefits Expenses	1,276.59	1,368.81	1,079.83	5,139.77	4,323.10
	e. Finance Costs	99.77	125.78	15.56	489.46	17.41
	f. Depreciation and Amortisation Expenses	293.20	271.74	176.78	1,074.25	695.43
	g. Other Expenses	2,172.71	1,495.98	1,978.09	7,548.94	6,349.96
	Total Expenses	11,248.06	9,374.94	8,387.51	40,923.35	31,336.19
3	Profit before tax and exceptional items	2,302.88	2,043.10	1,804.93	8,711.68	6,548.05
4	Exceptional items	-	-	-	-	-
5	Profit before tax	2,302.88	2,043.10	1,804.93	8,711.68	6,548.05
6	Tax expense
	a. Current Tax	587.27	548.40	380.38	2,253.60	1,635.43
	b. Taxation for earlier years	-	-	-	-	-
	c. Deferred Tax	(55.66)	(8.75)	8.96	(47.25)	2.21
7	Total tax expense	531.61	539.66	389.34	2,206.35	1,637.64
8	Profit after tax	1,771.28	1,503.45	1,415.59	6,505.33	4,910.41
9	Other Comprehensive Income
	Items that will not be reclassified to profit or loss - Remeasurement gain/loss	20.62	-	4.78	20.62	4.78
10	Total Comprehensive Income	1,791.89	1,503.45	1,420.37	6,525.95	4,915.19
11	Paid-up Equity Share Capital (Face value of Rs.10 each)	5,679.28	5,679.28	5,480.88	5,679.28	5,480.88
12	Other Equity	41,843.98	40,052.09	29,483.99	41,843.98	29,483.99
13	Earnings Per Share (Face value of Rs. 10/-each)
	Basic (in Rs.) (not annualised)	3.17	2.69	2.58	11.64	8.96
	Diluted (in Rs.) (not annualised)	3.17	2.69	2.58	11.64	8.96

For and On Behalf of the Board of Directors
SIRCA PAINTS INDIA LIMITED

For SIRCA PAINTS INDIA LIMITED

For SIRCA PAINTS INDIA LIMITED

Chairman Cum Managing Director
Sanjay Agarwal

Chairman Cum Managing Director
DIN: 01302479

Apoorv Agarwal
Joint Managing Director
DIN: 01302537

Place:-New Delhi, Date:- 07/05/2026

SIRCA PAINTS INDIA LIMITED
Registred Office:- G-82, Kirti Nagar, West Delhi-110015
CIN-L24219DL2006PLC145092

Notes:-

1. The abovesaid Audited standalone Financial Results along with the comparatives have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind As-34) as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulation").

2. The statement of standalone financial results of Sirca Paints India Limited ("the Company") for the quarter (unaudited) and year (audited) ended March 31, 2026 ("Financial Results") have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 7, 2026.

3. The figures of the fourth quarter are the balancing figures between audited figures in respect of the full financial year and published year to date figures up to the third quarter of the relevant financial year. Also, the figures up to the end of third quarter were only reviewed and not subjected to audit.

4. The Company operates in one segment i.e. manufacturing and repackaging of wood, wall paints & related products. Hence, no separate segment disclosures as per "Ind AS 108 : Operating Segments" have been presented as such information is available in the statement.

5. The Government of India, with effect from November 21, 2025 notified the Code on Social Security 2020, the Occupational Safety, Health and Working Conditions Code, 2020, the Industrial Relations Code 2020, and the Code on Wages, 2019 (collectively the "Labour Codes"). which replace exiting central labour legislations. Draft rules under the Labour Codes were released by the Ministry of Labour and Employment on December 30, 2025 and are yet to be notified. Various State Governments have also notified state-specific legislations. Based on the Company's assessment, the provisions currently in force do not have a material impat on the financial results of the Company. The financial impact, if any, of the remaining provisions will be assessed upon notification of the final rules and their effective dates.

6. The Board of Directors at its meeting held on 07th May 2026, have recommended a final dividend of ₹ 2 per equity share of face value of ₹ 10 each for the financial year ended 31 March 2026.

7. Figures for the previous periods have been re-grouped/ rearranged/ restated wherever necessary to make them comparable with those of the current period.

Place:-New Delhi, Date:- 07/05/2026

For and On Behalf of the Board of Directors
SIRCA PAINTS INDIA LIMITED

For SIRCA PAINTS INDIA LIMITED
Chairman Cum Managing Director
Sanjay Agarwal
Chairman Cum Managing Director
DIN: 01302479

For SIRCA PAINTS INDIA LIMITED
Joint Managing Director
Apoorv Agarwal
Joint Managing Director
DIN: 01302537

SIRCA PAINTS INDIA LIMITED

Registered Office:- G-82, Kirti Nagar, West Delhi-110015
CIN-L24219DL2006PLC145092

STANDALONE STATEMENT OF ASSETS AND LIABILITIES
	(₹ in Lakhs)
		As at	As at
		31.03.2026	31.03.2025
		(Audited)	(Audited)
1	ASSETS
	Non-current assets
	a Property, Plant and Equipment	5,599.76	5,678.62
	b Intangible Assets	10,665.23	10,672.41
	c ROU Assets	1,091.21	-
	d Capital work-in-progress	1,026.27	22.49
	e Investments in wholly owned Subsidiaries	10.00	10.00
	f Financial Assets	-	-
	g Investments	724.35	-
	h Other financial assets	85.88	65.88
	g Other non-current assets	858.99	707.50
	h Deferred tax asset	102.58	55.33
	Total Non - Current Assets	20,164.27	17,212.23
2	Current assets
	a Inventories	11,060.68	10,801.73
	b Financial Assets	-	-
	g Investments	5,004.95	200.00
	h Trade receivables	15,524.87	9,329.71
	i Cash and cash equivalents	5,678.32	4,324.16
	j Other bank balances	119.23	1,091.80
	k Other financial assets	200.36	298.55
	c Current tax assets (Net)	-	3.82
	d Other Current assets	1,150.75	1,807.92
	Total Current Assets	38,739.17	27,857.69
	Total Assets	58,903.44	45,069.92
	EQUITY AND LIABILITIES
1	Equity
	a Equity share capital	5,679.28	5,480.88
	b Other equity	41,843.98	29,483.99
	Total equity	47,523.26	34,964.87
	LIABILITIES
2	Non-current liabilities
	a Financial Liabilities
	i Long term Borrowings	2,589.04	4,166.67
	j Other Financial Liabilities	1,217.52	57.05
	b Long term Provisions	138.53	49.01
	Total Non - Current Liabilities	3,945.08	4,272.73
3	Current liabilities
	a Financial Liabilities
	i Trade payables
	MSME	2,141.30	1,120.43
	NON MSME	3,247.24	2,753.55
	j Short term Borrowings	642.86	833.33
	k Other financial liabilities	585.92	514.89
	b Other current liabilities	712.14	610.12
	c Current Tax Liabilities (Net)	105.64	-
	Total Current Liabilities	7,435.10	5,832.32
	Total Equity and Liabilities	58,903.44	45,069.92

For and On Behalf of the Board of Directors

Sarjay Agarwal

Chairman Cum Managing Director

DIN: 01302479

Apoorv Agarwal

Joint Managing Director

DIN: 01302537

Sirca Paints India Limited
Registrar Office:- G-82, Kirti Nagar, West Delhi-110015
CIN-L24219DL2006PLC145092

STANDALONE CASH FLOW STATEMENT FOR THE YEAR ENDED MAR 31,2026

| | April-Mar 2026
₹ in Lakhs | April-Mar 2025
₹ in Lakhs |
| --- | --- | --- |
| A. Cash Flow from Operating activities: | | |
| Profit before taxes | 8,711.68 | 6,548.05 |
| Adjustments for: | | |
| Depreciation and amortization expenses | 1,074.25 | 695.43 |
| (Profit)/Loss on sale of assets | (1.30) | 19.48 |
| Finance Income | (372.77) | (330.14) |
| Finance expenses | 489.46 | 17.41 |
| Lease Rent Paid (Ind As) | (335.69) | |
| Other non cash items | (19.30) | 4.78 |
| Operating profit before working capital changes | 9,546.32 | 6,955.01 |
| Adjustments for: | | |
| Trade receivables | (6,195.16) | (2,775.63) |
| Financial assets and other current/non-current asset | 583.87 | (1,737.72) |
| Inventories | (258.96) | (1,267.65) |
| Trade payables | 1,514.56 | 620.13 |
| Financial liabilities and other current/non-current liabilities | 1,423.04 | 5,263.68 |
| Cash generated from operations | 6,613.67 | 7,057.82 |
| Direct tax paid ( net of refunds) | (2,168.31) | (1,630.85) |
| Net Cash from Operating Activities...A | 4,445.36 | 5,426.98 |
| B. Cash Flow from Investing Activities: | | |
| Purchase of fixed assets including WIP | (2,781.38) | (10,693.25) |
| Sale of fixed assets | 2.00 | 12.10 |
| Investments & Securities | (5,529.30) | 4,218.50 |
| Movement in fixed deposits with banks | 972.57 | 1,600.01 |
| Interest received | 361.56 | 330.14 |
| Net cash used in Investing Activities ... B | (6,974.55) | (4,532.49) |
| C. Cash Flow from Financing activities: | | |
| Proceeds from issue of equity shares (Net of transaction cost) | 6,926.94 | - |
| Net Proceeds/(Repayment) of borrowings | (1,732.00) | - |
| Interest and other finance costs paid | (489.46) | (17.41) |
| Dividend Paid | (822.13) | (822.13) |
| Net Cash used in Financing Activities ... C | 3,883.35 | (839.54) |
| Net increase or (decrease) in cash or cash equivalents (A+B+C) | 1,354.16 | 54.95 |
| Cash & Cash equivalents as at 1st April | 4,324.16 | 4,269.21 |
| Cash & Cash equivalents as at 34th March | 5,678.32 | 4,324.16 |

The above cash flow statement has been prepared under the "Indirect Method" as set out in the Ind AS-7 statement of Cash Flow.

Sanjay Agarwal
Chairman Cum Managing Director
DIN: 01302479

Apoorv Agarwal
Joint Managing Director
DIN: 01302537

Place:- New Delhi, Date 07/05/2026

CA

RAJESH KUKREJA & ASSOCIATES

CHARTERED ACCOUNTANTS

211, LSC, POCKET-B, ASHOK VIHAR

PHASE-III, DELHI - 110052

TEL: 9310910099

E-mail: ca.rk@hotmail.com

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL CONSOLIDATED FINANCIAL RESULTS AND REVIEW OF CONSOLIDATED QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF

SIRCA PAINTS INDIA LIMITED

Opinion and Conclusion

We have (a) audited the Consolidated Financial Results for the year ended March 31, 2026 and (b) reviewed the Consolidated financial results for the quarter ended March 31, 2026 (refer ‘Other Matters’ section below)”, (“the Statement”) which are subject to limited review by us, both included in the accompanying “Statement of Consolidated Financial Results for the Quarter and Year Ended March 31, 2026” of SIRCA PAINTS INDIA LIMITED, (“the Parent”), and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”), 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”).

(a) Opinion on Annual Consolidated Financial Results

In our opinion and to the best of our information and according to the explanations given to us, these Consolidated Financial Results for the year ended March 31, 2026:

i) includes the results of SIRCA INDUSTRIES LTD, a Wholly Owned Subsidiary.

ii) is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

iii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards 34 “Interim Financial Reporting” (“Ind As 34”) prescribed under section 133 of the Companies Act 2013 (“the Act”) read with relevant rules issued thereunder and other accounting principles generally accepted in India of the Consolidated net profit and Consolidated total comprehensive income and other financial information of the Group for the year ended March 31, 2026.

(b) Conclusion on Unaudited Consolidated Financial Results for the quarter ended March 31, 2026

SIRCA PADDE JAM ASSEMBLY CERTIFICATE
FRB-42549
M No. 663496
New Delhi

RAJESH KUKREJA & ASSOCIATES
CONTINUATION SHEET
CHARTERED ACCOUNTANTS

With respect to the Consolidated Financial Results for the quarter ended March 31, 2026, based on our review conducted and procedures performed as stated in paragraph (b) of Auditor's Responsibilities section below, nothing has come to our attention that causes us to believe that the Consolidated Financial Results for the ended March 31, 2026, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

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

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those Standards are further described in the Auditor’s Responsibilities section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the Consolidated Financial Results for the year ended March 31, 2026 under the provisions of the Act and the Rules there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of Management and Those charged with Governance for the Consolidated Financial Statements

This Statement, which includes the Consolidated Financial Results is the responsibility of the Parent’s Board of Directors and has been approved by them for the issuance. The Consolidated Financial Results for the year ended March 31, 2026, has been compiled from the related audited consolidated financial statements. This responsibility includes the preparation and presentation of the Consolidated Financial Results for the quarter and year ended March 31, 2026 that give a true and fair view of the consolidated net profit and consolidated other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 34, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.

The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for

REPUBLIKA HARBORA
31 MAR 2026
14:00
SEP 2026

RAJESH KUKREJA & ASSOCIATES
CONTINUATION SHEET
CHARTERED ACCOUNTANTS

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

In preparing the Consolidated Financial Results, the respective Board of Directors of the companies included in the Group are responsible for assessing the respective 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 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 companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Auditor’s Responsibilities

(a) Audit of the Consolidated Financial Results for the year ended March 31, 2026

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results for the year ended March 31, 2026 as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Consolidated Financial Results.

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

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

REPUBLIC OF THE PHILIPPINES
1540 KARLISON STREET
P.O. BOX 1540
NEW YORK, NY 10017-0001

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
• Conclude on the appropriateness of the Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Annual Consolidated Financial Results, including the disclosures, and whether the Annual Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
• Perform procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations to the extent applicable.
• Obtain sufficient appropriate audit evidence regarding the Annual Standalone/ Consolidated Financial information of the entities within the Group to express an opinion on the Annual Consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Annual Consolidated Financial Results of which we are the independent auditors. For the other entities included in the Annual Consolidated Financial Results, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance 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.

REPUBLIKA ARABIA
GOVERNING AND CONFERENCES
1349K
1996-2000

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

(b) Review of the Consolidated Financial Results for the quarter ended March 31, 2026

We conducted our review of the Consolidated Financial Results for the quarter ended March 31, 2026 in accordance with the Standard on Review Engagements (SRE) 2410 ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’, issued by the ICAI. A review of interim financial information consists of making inquiries, primarily of the Company’s personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with SAs specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

The Statement includes the results of the entities as listed under paragraph (a)(i) of Opinion and Conclusion section above.

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

Other Matter

• The Statement includes the results for the Quarter ended March 31, 2026 being the balancing figure between audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year, subject to limited review. Our opinion is not modified in respect of this matter.

RAJESH KUKREJA & ASSOCIATES
Chartered Accountants
Firm Regn No:- 0004254N

RAJESH KUKREJA
Partner
M.No-083496
UDIN: 26083496MAVΦWΦ4635

Place: Delhi
Date: 07/05/2026

SIRCA PAINTS INDIA LIMITED
Registred Office - G-82, Kirti Nagar West Delhi-110015
CIN-L24219DL2006PLC145092

AUDITED STATEMENT OF CONSOLIDATED FINANCIAL RESULTS

FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026

(* in Lakh Except Equity Share Data)

Sl. No.	Particulars	Quarter Ended			Year Ended
		31.03.2026	31.12.2025	31.03.2025	31.03.2026	31.03.2025
		(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
1	Income
	a. Revenue from Operations	13,429.16	11,278.60	10,092.48	49,248.41	37,367.93
	b. Other Income	121.78	139.45	99.95	386.62	516.32
	Total Income	13,550.95	11,418.05	10,192.44	49,635.03	37,884.24
2	Expenses
	a. Cost of Material Consumed	5,364.87	4,994.65	2,590.39	20,033.68	10,977.36
	b. Purchase of stock-in-trade	2,060.40	858.02	2,409.92	5,590.67	10,097.17
	c. Change in inventories of stock-in-trade	(19.47)	259.96	136.94	1,046.59	(1,124.23)
	d. Employee Benefits Expenses	1,276.59	1,368.81	1,079.83	5,139.77	4,323.10
	e. Finance Costs	99.77	125.78	15.56	489.46	17.41
	f. Depreciation and Amortisation Expenses	293.20	271.74	176.78	1,074.25	695.43
	g. Other Expenses	2,176.64	1,496.52	1,978.29	7,553.60	6,350.41
	Total Expenses	11,251.99	9,375.48	8,387.71	40,928.02	31,336.64
3	Profit before tax and exceptional items	2,298.96	2,042.57	1,504.72	8,707.01	6,547.60
4	Exceptional items	-	-	-	-	-
5	Profit before tax	2,298.96	2,042.57	1,504.72	8,707.01	6,547.60
6	Tax expense
	a. Current Tax	586.28	548.27	384.73	2,252.42	1,639.72
	b. Taxation for earlier years	-	-	-	-	-
	c. Deferred Tax	(55.66)	(8.75)	8.96	(47.25)	2.21
7	Total tax expense	530.62	539.52	393.69	2,205.17	1,641.93
8	Profit after tax	1,768.34	1,503.05	1,411.04	6,501.84	4,905.67
9	Other Comprehensive Income
	Items that will not be reclassified to profit or loss - Remeasurement gain/loss	20.62	-	4.78	20.62	4.78
10	Total Comprehensive Income	1,788.95	1,503.05	1,415.82	6,522.45	4,910.46
11	Profit for the period / year attributable to:
	Owner of the Company	1,768.34	1,503.05	1,411.04	6,501.84	4,905.67
	Non-controlling interests
		1,768.34	1,503.05	1,411.04	6,501.84	4,905.67
12	Other Comprehensive Income for the period/
	year attributable to :
	Owner of the Company	20.62	-	4.78	20.62	4.78
	Non-controlling interests
		20.62	-	4.78	20.62	4.78
13	Total Comprehensive Income for the period / year
	attributable to:
	Owner of the Company	1,788.95	1,503.05	1,415.82	6,522.45	4,910.46
	Non-controlling interests
		1,788.95	1,503.05	1,415.82	6,522.45	4,910.46
14	Paid-up Equity Share Capital (Face value of Rs.10 each)	5,879.28	5,679.28	5,480.88	5,679.28	5,480.88
15	Other Equity	41,832.31	40,043.35	29,475.81	41,832.31	29,475.81
16	Earnings Per Share (Face value of Rs. 10/- each)
	Basic (in Rs.) (not annualised)	3.16	2.69	2.57	11.63	8.95
	Diluted (in Rs.) (not annualised)	3.16	2.69	2.57	11.63	8.95

Chairman Cum Managing Director

Sanjay Agarwal

DIN: 01302479

For and On Behalf of the Board of Directors

UNTS INDIA LIMITED

Joint Managing Director

Apoorv Agarwal

DIN: 01302537

SIRCA PAINTS INDIA LIMITED
Registrar Office:- G-82, Kirti Nagar, West Delhi-110015
CIN-L24219DL2006PLC145092

Notes:-

1. The abovesaid Consolidated Financial Results along with the comparatives have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind As-34) as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulation").

2. The statement of Consolidated financial results of Sirca Paints India Limited ("the Company") for the quarter (unaudited) and year (audited) ended March 31, 2026 ("Financial Results") have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 7, 2026.

3. The figures of the fourth quarter are the balancing figures between audited figures in respect of the full financial year and published year to date figures up to the third quarter of the relevant financial year. Also, the figures up to the end of third quarter were only reviewed and not subjected to audit.

4. The Company operates in one segment i.e. manufacturing and repackaging of wood, wall paints & related products. Hence, no separate segment disclosures as per "Ind AS 108 : Operating Segments" have been presented as such information is available in the statement.

5. The Government of India, with effect from November 21, 2025 notified the Code on Social Security 2020, the occupational Safety, Health and Working Conditions Code, 2020, the Industrial Relations Code 2020, and the Code on Wages, 2019 (collectively the "Labour Codes") which replace exiting central labour legislations. Draft rules under the Labour Codes were released by the Ministry of Labour and Employment on December 30, 2025 and are yet to be notified. Various State Governments have also notified state-specific legislations. Based on the Company's assessment, the provisions currently in force do not have a material impact on the financial results of the Company. The financial impact, if any, of the remaining provisions will be assessed upon notification of the final rules and their effective dates.

6. The Board of Directors at its meeting held on 07th May 2026, have recommended a final dividend of ₹ 2 per equity share of face value of ₹ 10 each for the financial year ended 31 March 2026.

7. Figures for the previous periods have been re-grouped/ rearranged/ restated wherever necessary to make them comparable with those of the current period.

Place:-New Delhi, Date:- 07/05/2026

S Rjanm
Chairman Cum Managing Director

Sanjay Agarwal
Chairman Cum Managing Director
DIN: 01302479

SIRCA PAINTS INDIA LIMITED
For SIRCA PAINTS INDIA LIMITED

SIRCA PAINTS INDIA LIMITED

Registered Office - G-82, Kirti Nagar, West Delhi-110015
CIN-L24219DL2006PLC145092

(₹ in Lakhs)

CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES

	As at	As at
		31.03.2026	31.03.2025
		(Audited)	(Audited)
1	ASSETS
	Non-current assets
	a Property, Plant and Equipment	5,599.76	5,678.62
	b Intangible Assets	10,665.23	10,672.41
	c ROU Assets	1,091.21	-
	d Capital work in-progress	1,026.27	22.49
	e Investments in wholly owned Subsidiaries	-	-
	f Financial Assets	-	-
	i Investments	724.35	-
	ii Other financial assets	85.88	65.88
	g Other non-current assets	858.99	708.00
	h Deferred tax asset	102.58	55.33
	Total Non - Current Assets	20,154.27	17,202.73
2	Current assets
	a Inventories	11,080.68	10,801.73
	b Financial Assets	-	-
	ii Investments	5,004.95	260.00
	iii Trade receivables	15,524.87	9,329.71
	iv Cash and cash equivalents	5,878.32	4,328.53
	v Other bank balances	119.23	1,091.80
	vi Other financial assets	200.36	298.55
	c Current tax assets (Net)	-	0.97
	d Other Current assets	1,150.75	1,867.92
	Total Current Assets	38,739.17	27,859.21
	Total Assets	58,893.44	45,061.94
	EQUITY AND LIABILITIES
1	Equity
	a Equity share capital	5,679.28	5,480.88
	b Other equity	41,832.31	29,475.81
	Total equity	47,511.59	34,956.69
	LIABILITIES
2	Non-current liabilities
	a Financial Liabilities
	i Long term Borrowings	2,589.04	4,166.67
	ii Other Financial Liabilities	1,217.52	57.05
	b Long term Provisions	138.53	49.01
	Total Non - Current Liabilities	3,945.08	4,272.73
3	Current liabilities
	a Financial Liabilities
	ii Trade payables	-	-
	MSME	2,141.30	1,120.43
	NON MSME	3,247.24	2,753.55
	iii Short term Borrowings	642.86	833.33
	iv Other financial liabilities	585.92	515.09
	b Other current liabilities	712.14	610.12
	c Current Tax Liabilities (net)	107.31	-
	Total Current Liabilities	7,436.77	5,832.52
	Total Equity and Liabilities	58,893.44	45,061.94

Place -New Delhi, Date:- 07/05/2026

Sanjay Agarwal

Sirca Paints India Limited
Registrar Office - G-82, Kirti Nagar, West Delhi-110015
CIN-L24219DL2006PLC145092

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED MAR 31,2026

	April-Mar 2026	April-Mar 2025
	₹ in Lakhs	₹ in Lakhs
A. Cash Flow from Operating activities:
Profit before taxes	8,707.01	6,547.60
Adjustments for:
Depreciation and amortization expenses	1,074.25	695.43
(Profit)/Loss on sale of assets	(1.30)	19.48
Finance Income	(372.77)	(330.14)
Finance expenses	489.46	17.41
Lease Rent Paid (Ind As)	(335.69)	-
Other non cash items	(19.30)	4.78
Operating profit before working capital changes	9,541.66	6,954.56
Adjustments for:
Trade receivables	(6,195.16)	(2,775.63)
Financial assets and other current/non-current asset	583.87	(1,737.79)
Inventories	(258.96)	(1,267.65)
Trade payables	1,514.56	620.12
Financial liabilities and other current/non-current liabilities	1,423.34	5,263.68
Cash generated from operations	6,609.31	7,057.30
Direct tax paid ( net of refunds)	(2,168.31)	(1,630.84)
Net Cash from Operating Activities...A	4,441.00	5,426.46
B. Cash Flow from Investing Activities:
Purchase of fixed assets including WIP	(2,781.38)	(10,693.25)
Sale of fixed assets	2.00	12.10
Investments & Securities	(5,529.30)	4,218.50
Movement in fixed deposits with banks	972.57	1,600.01
Interest received	361.56	330.14
Net cash used in Investing Activities ...B	(6,974.55)	(4,532.49)
C. Cash Flow from Financing activities:
Proceeds from issue of equity shares (Net of transaction cost)	6,926.94	-
Net Proceeds/(Repayment) of borrowings	(1,732.00)	-
Interest and other finance costs paid	(489.46)	(17.41)
Dividend Paid (Including Dividend distribution tax)	(822.13)	(822.13)
Net Cash used in Financing Activities ...C	3,883.35	(839.54)
Net increase or (decrease) in cash or cash equivalents (A+B+C)	1,349.79	54.43
Cash & Cash equivalents as at 1st April	4,328.53	4,274.09
Cash & Cash equivalents as at 31th March	5,678.32	4,328.53

The above cash flow statement has been prepared under the "Indirect Method" as set out in the Ind AS-7 statement of Cash Flow.

Place:- New Delhi, Date 07/05/2026