Nigerian Enamelware PlcNSENG: ENAMELWA

Quarter 1 - financial statement for 2027

· Issued by Nigerian Enamelware Plc

N1gerian Enamelware Plc.

RC 2192

Unaudited Financial Statements

For the period ended 31st July 2026





Certified TrL e b! "

C ie ecu ve

fRC/2022/PRO/NIfVI,/'002/000000 90



Fiflance Manager

F 'C/202'2/P/?O/ICAN/001/40>"60J

2027 FIRST QUARTER FINANCIAL REPORTS CERTIFICATION UNDER SECTION 60(2) OF THE INVESTMENT

AND SECURITY ACT(ISA) 2007

We hereby certify that

  1. The Directors have reviewed the report;

  2. To the best of our knowledge , the report does not contain:

    1. Any untrue statement of a material fact, or

      (li) Omit to state a material fact, which would make the statement,misleading in the light of the circumstances under which such a statement was made;

  3. Based on our knowledge, the financial statements and other financial information included in the report fairly present in all material respects the financial condition and results of operations of the Company as of, and for the periods presented

    in the report.

  4. The Directors:

    1. Are responsible for establishing and maintaining internal controls.

      (i i) Have designed such internal controls to ensure that material information relating to the Company and its consolidated subsidlaries are made known to our officers by order within those entities particularly during the

      period in which the periodic reports are being prepared;

      1. Have evaluated the effectiveness ot the Company's internal controls as of date within 90 days prior to the report;

      2. Have presented in the report our conclusions about the effectiveness of the internal controls based on our evaluation as of that date;

  5. The Directors have at the given opportunity to the Auditors of the Company and Audit Committee:

    1. All significant deficiencies in the design of operation of internal controls which w'ouId adversely at'fect the Company's ability to record, process, summarize and report financial data and have identified for the Company's Auditors any material weakness in internal controls, and

    2. Any fraud, whether or not material, that involves management or other employees who have significant role in the Company's internal controls;

t) The Directors have identified in the report whether or not there were significant changes in internal controls or other factors that could significantly affect internal controls subsequent to the date ot evaluation, including any

corrective actions with regard to signlficant deficiencies and material weaknesses.



CERTIFIED BY

*'' . .{ "

!



Taiwo AHi Managing Director

Nigerian Enamelware Plc FRC/2022/PRO/NIM/003/00000024090

Olakunle Babatunde Adeoye Finance Manager

Nigerian Enamelware Plc FRC/2022/PRO/ICAN/001/403601

Nigerian Enamelware PLC

RC 2192

UNAUDI TED INTERIM STATEMENT OF COMPREHENSIVE INCOME FOR THE 12 MONTHS ENDED 31ST JULY, 2026

Unaudited IFRS

IFRS

IFRS

IFRS

3 Months

3 M ontlis

12 M ontlis

12 Months

05/01/2026

To

31/07/2026

01/05/2025

To

51/07/2025

01/05/2025

To

30/04/2026

01/05/2024

To

30/04/2025

N'000

N'000

N'000

N'000

Revenue

231,716

46,6t0

1,30 1,835

1,431,093

Coast of Sales

(201,628)

(97,866)

(1,222,829)

(1,376,960)

Gross Profit

30,088

(51,256)

79,006

4,133

Other I ncomes

C istribution Expenses

68,71 9

11 4,056

Administration Expenses

(67,599)

(29,260)

(191,799)

(143,255)

Provision For Doubtful Debts

(38,261)

Opcratin8 Profit

(37,511)

(80,5 f6)

(82,335)

24,934

I"inancial Income

Financial Costs

0

0

0

0

Net Financial Income/(Cost)

0

0

0

0

Profit before Tax

(37,5t I)

(80,516)

(82,335)

24,934

Income 4"ax (Estimate)

0

0

2,22G

(9,458)

Profit/(Loss) for the period

(37,511)

(80,516)

(80,109)

15,476

You-controlIing interest

Protit/(Loss) retained for the period

(37,51 1)

(80,516)

(80,109)

15,476

Easic earnings per share (kobo)

(49)

(106)

(I 05)

20





F in an ce Man ager



Nigerian Enamelware PLC

RC? 2192

S"F.¥TESIENT OF FIh.¥NCIAL POSITION

.tS ,tT 31 ST JL'LI 202f›

Unaudited IFRS

IFRS

IFRS

IFRS

hote

05/01/2026

To

31/07/2026

3 months

h'000

01/05/2025

To

31/07/2025

3 months

N'000

01/05/2025

To

30/04/2026

12 months N'000

01/05/2024

To

30/04/2025

12 months N'000

.tSSETS

ñ on-current assets

Property , plant and equipment 5

250,171

278,440

255,067

254,411

Total non-cu rrcnt assets

230,171

275,440

235,067

254,41 l

C?urrcnt assets Inventories

647,565

398,152

689,83 S

253,204

Trade and other receivables



1.163,012

1,202.107

1,132,951

1.199,609

tether debtors - Prepavnaents Date frtaui related companies Cash and bank balance

305,642

558.(99

559,603

136,345

25,163

785,365

694,759

238,041

Total currcnt asstcs

2,ti74,Sl9

2,326,236

2,633,351

2,415,643

Total assets

2,924,989

2,604,676

2,885,417

2,700,034

Current liabilites Borro» ings



Trade and other paj ables

2,563.634

2.202,125

2,489,549

2,216,990

Deterrcd tax liabilities 1 l

Other liabilities 9

Current tax llabilities IO

7 l,3l7

1, 136,430

80,052

1,131,784

7 1,3 17

1,136,431

50,052

1, 131,784

Total current liabilities

3,771,381



3,697,297

3,42g,R26

Totiil :tssets lcss Current liabilities

(846,392)

(809,257)

(808,881)

(728,772)

Y."‹1PIT.¥L .AND IIESERVES

€ alled up share capital 12

38.0 16

38,0 16

3S,0 16

35.0 16

Share Premium 7

Other Reserve

61,086

6 l,0S6

6 1,086

6 1,086



Retaincd earnings

(907,983)

(827,874)

(827,574)

(843,350)

Profit and Loss

(37.511)

(80,5 16) (80,109) 15,476

Shareholders' funds

(846,392)

(809,287)

(808,881)

(725,772)

The financial statements » ere approx'ed by the Board on 20th August, 2026

c e rtifie d True

Cliie Exec e ' er



i a ge ' ' " " "



Nigerian Enamelware PLC RC2192

STATEIIENT OF CHANGE IN EQUITS

FOR PERIOD ENDED 31ST JULY 2026

FOR PERIOD ENDED 31ST JL!Lh' 2026

ISSUED SHA RE CAPIT.ML

N'000

OTHEn RESERVES

N'000

RETAINED E.URL IN€iS

N'000

TOTAL E QLIITâ' N'000

Balance at I st Slay 202fi

38,0 16







Prolii for the }acriod

(37,511 )

(37,31 1 )

Rcvaluaton Stirplus

Balance at 3 IST July 2026

38,0 16

61,086

(945,494)

(846,392)

FOR PERIOD ENDED 30 th Api'il 202ti

Balance at 1st ñ'Ia;' 2023 Addi tion in the year

I°rotit ior the period Revaluaton Surplus Balance at 30 th .ApriI 202C

ISSUED SHARE CAPITAL



3S,0 16

35,0 16

OTHER RESERVES

N'000



61,086

RETAIL ED EARNIN€iS

N'000

(527,874)

(50, 109)

(907,953)

TOT.ML EQUITY '000

(725,772)

P (80,109)

(808,8 S 1 )

'C ie ecut e f





Finance Manager



)

fi igci ian E namclivare PI.C RC 2192

ST.ATr›tr.s+ OF C ASH FI.O1V$

.4 S .IT 31 ST JL'I.h' 2026

Unaudited IFRS

IFRS

IFRS

IFRS

Cnshtloiv from opei'ative actin ities

05/01/2026

To

31/07/2026

N'000

3 ñlonths

01/05/2023

To

31/07/2025

N'000

3 months

01/05/2025

To

30/04/2026

N'000

12 ñ Months

01/05/2024

To

30/04/2025

N'000

12 ñI onths

Cash receipt from customers Proceed from Disposal of Assets

584,056

468,077

846,247

2.037,317

CasliPaid to Suppliers and Employees

( 1.55,34 1)

(567.160)

(286.591)

(3,205,098)

Tax liabl1ities paid Administrative expenses paid Income tax paid

(2.613)

0

(2.613)



(36,89 l )

Net cash gencratcd by opcrating activities

428,715

(101,696)

557,043

(1,204,672)

C ashfiow from inx'esting acti›'itics

I'urc1iase th ii xed assets

(5,461)

(9,718)

Interest receiv'ed troir siinilar inctarne





(3,461) - (9,718)

C ashfioiv from financing acti› ities blnclaiined dividend returned/Interest paid Di›'ideHd paid

Nct cash gcnei'ated by financing acti›'itics

0

0 0

0 0

22.746

22,746

Net increase / (decrease) in cash and cash equi›'a1ent



(101,696)

547.325

(1, 181,926)

Cash and cash equivalent at beginning of year

135,345

238,041

238,04 1

1.4 19.967

Cash and cash equivalent at end of i ear

558,599

136.345

785,368

238,04 1



Nigerian Enamelware PLC

RC 2192

1'N.Nt DITED FIh.4NCL4 L STATEMENT FOR THE PERIOD ENDED 31 .Iuly 2026

NOTES TO TH E .4CCOI NTS I THE COJIPAh 4'

  1. . 1 Legal form

    Nigerian Enameli are Plc was incorporated in Niiieria on 21 May 1960 as a I innited liability coinpanv. It ent publie on 28 December 1979 in conapl iance with the Indigeni sation Decree of 1977 and was yuranted a li sting on the Nigerian Stock Ext hanpe. li adopted its present name of Nigerian

    Enamrl xxvre Plc on 6 I une 1991 in compliance ii ith Cc°mpanies and A 11ied flatters Act, 2020



    Nigerian Enamelware Plc is encased in the iiianutacturing and marketing of enamelware, plastic products, galvanized buckets Ravs material s consistine of steel coils, chemicals, enamel and moulds are obtained from both local and o erseas suppliers.

  2. Tt RhO ER

Turnover represents the total amount invoiced to customers for yoods supplied and services rendered after deducting trade discount and comm issions.

Unaudited IFRS

3inths

0 1/05/2026

To

IFRS

3iaaths

01/05/2025

To

ITRS

12mths

01/05/2025

To

IFRS

l2mths 01/05/2024

To

3 l/07,'202G

31,'07/2025

30/04/2026

30/04/2025

N'000

N'000

N'000

N'000

Enamelu'are products etc

231,716

46,610

1,301,835

1,431,093

Other Income - Scraps SoldProt'it on assets sold

0

0

68,719

114,056

231,716

46,610

1,370,554

1,545,149

PROFIT BEFORE TA.XATIOh

is arri ed at after charging

Interest & similar charges









4 Taxation

0



0

0

Taxation is pro›'ided on taxable profit at current rate (estimate)



Niberian Enam el» are PLC RR' 2192

£'N.I ('D I TED FIN.IN(?I,L ST.FTE 11ENT

I tJR THE PERI OD E DED 31 J I L' 2026



Property, plant and equipiiient

C'apita1 \'ork In Probn ess N'000

Plant and Motor Vehicles Furniture & machinery Fixtu£DS

N'000 N'000 N'000

Office Equipment N'000

Total N'000





AEditions - €'auiial \'orL In Progres s

826,102

I, 169

667

|,382







5,46 I

0







667

64



10,3 26

0



1 0,3 57





1,1 69

667

17409



0

",20|

12 862

24 0 888

0

1 ,382

25 5.068

A ecuniiilated depreciairem and



Cha_<><>







As 30 April 202h



j, 169





667



2 296











i$O £ES TO THE .4f*f'OI!NTS

tJnaudited

3 intlis 01/05.2026

To

IFRS

3 mths 01/05/20?.5

To

IFRS

12 mths 01/05/2025

To

irRs

12 mths 01/05/2024

To

STOCKs

3I/07/2026

31/07/2025

30/04/2026

30/04/2025

ita\ materials

427,950

348,579

573,544

254,871

\'ork-in-progress

60,327

a7,780

60,884

21,999

Finished goods



26,532

70,I l9

21,043

Machincn' spare parts

0

0

Cunsuma(›les

0

0

Pro°ision for obsolete s‹ocks

( 14,709)

( 14.709)

(14709)

t4.709)



398,182



]8J,ZO4

TR.4DE DEBTORS/OTtIERS

Trade receivable - third parties

42,324

12,817

1 1,656

12,817

Trade receivable - related parties

3,757,402





3,792, 134

P‹o)sionfotI)ouhtuldtb+s

‹2.700.z57›

(2568.044)

(2,668,044 I

I 2,668,044)

I ,099,659

I,l38,76S

I , 101,75S

1,136,907



Staff debtors - Loan

1,220

2,035

580

Usher recen able

61,500

62.122

29,181

62,122

1,1fi3.012

1.202,107



1,199,609

8

OTtIER DEBTORS

Prepa}°ments

505,642

589,603

2SJO3

694,789

305.642

589.d03

25.163

694,789

9

CREDITORS .4XD 11C'Rf'A LS

Trade and other pa›-abIcs



2,563,63J



2,202,128

2,489,549

2.2 16,990

Other liabilities

I0

PROISI0X FOR TA&4Tt€J%

.it th* begnning cf the perod / year

888,074

883,427

889,209

858,4$9

C'hai,e for the period * year





I 7,38I

Pax'merit durini, period ' year

0

0

(11%)

(2,61 3)

tiapital tiain Tax

248.357

248,317

248,357

248)57

I .I3G.430

I .131.784

Id36.43)

l. I 3I.784

11 Deferretl Taxation Deferred tax liabilities





7I,3 I7

80,082

Deferred tax assets

0 0

7I.3 l7

80,052

71,317

80,052

Cenlfied True b

Chief Execut" e0 › r





ñ iberian Enanielw'are PLC

nc zi92

I .‹f'DIT ED Flxaxci.xL ST.4TFâlEâT

FOR THE PER1OD ENDED 31 JI. I.Y 2026

NOTES TO THE .4CCOt/NTS

1.2 SHARE C.4PIW.s I

UnaudIted

3 mths 0 1/05/2026

To

31/07/2026

'000

IFRS

3 mths 01/05/2025

To

31/07/2025

N'000

IFRS

12 mths

0.1 /05/2025

To

30/04/2026

N'000

IFRS

12 mths 01/05/2024

To

30/04/2025

N'000

1 .Authorised

76,032.000 ordinan shares of 50k each

38,016

38,016

38,016

38,016

38,016

38,016

38,016

38,016

2 Issued and fully paid

76,032,000 ordinary shares ot' 50k cach

38,016

38,016

_



38,016

13

Retained earnings

At the iacginning of the period

( I ,052,724)

6.1,086

(827,874)

6.1,056

Unclaimcd dii idcnd refunded/Other reset es

6.1,086

(843,350)

6.1 ,086

(543.350)

Profit contributable to owners ot the cornpan›

Dividend paid

1.80,656

1.5,476

(44,1 64)

15,476

At the end of the period

(810,952)

(766,788)

(810,052)

(766,788)

1.4 HOI.D CO'4P.4

The holding coirpan›' 1-Feng 1,ink ited incorporated in Hong Kong and holds G0% of the cornpan;''s equity



Retirement benefits

The company provides a guarantee schcrnc for the bcnefit of its regular employccs. Thcsc benefits arc based

on the employccs' years of service and the terminal salary. The contribution of the employer and the employee

to the retirincnt bencti ts schcmc as required by the Pension Rctonn Act 2004 is 1.0.00% and 8.00% of respectively.

Financual Commitments

The Dircctors arc of tlic opinion that all knoiiai liabilities and commitments which are relevant in assessing the states of affairs of they company' have been taken into cons idcration in the preparation of theses accounts

Charge on assets

The company's overdraft and acceptance facilities inclusive ot documentary credits are secured b' a negati› e plcdge.



fiigeriun Enamels* tire PLC RC 2192

t.N.AUDITED FINANC'IAI STATE CIENT FOR THE PERIOD EDDED 31 Julv 2026

ñ'l'a rkef Summard



2026

31 I ulj

2025

NOOO

NOOO

Revenue

231,716

46,61 0

Profit/(1.oss) before taxation

(37,5 ll )

(80,316)



Profit/(1.oss) after taxation





(49)

(80,51 6)

( t06)

Certified True y:

hief Executive fficek



TRC/2022/PRO/NIM/002/O0000024090

Fin ance Manager

FFC/2O22/PRO/ICAH/0O1/4O36D1

NIGERIA ENAMELWARE PLC

UNAUDITED FINANCIAL STATEMENTS FOR THE PERION ENDED 31 JULY 2026

INSIDER TRADING AND PRICE SENSITIVITY INFORMATION

The Company is clear in its prohibition of insider trading by its Board, Management, Officers and related persons who are privy to confidential price sensitivity information. Such persons are further prohibited from trading in the Company's Securities where such transactions would amount to insider trading.

Directors, insiders and related parties are prohibited from disposing, selling, buying or transferring their shares in the Company for a period commencing from the date of receipt of such insider information until such a period when the information is released to the public or any other period as defined by the Company from time to time.

Chief Executive









HU.RD LI$TED



RE PORTU ti PERIOD

SH ARE P NICE .4T END UF REPORTING PERIOD

Shareholding Structure/ Free tloat Status

NIGERIAN ENAMELWARE PLC FREE FLOAT COMPUTATION

NIGERIAN ENAMEL\'ARE PLC RIAIN BOARD

3OTH APRIL

1 ST QUARTER ENDED 31 ST JULY 2026

N40.70 (2026 N37)

D CSCfi t1OR

31-Jul-26

30-Apr-26

Unit

Percentage

Unit

Percentage



76.03 2.000



76,03 2.000



Substantial Share holdings (5% and above)

I-FEED COR PANY LIM ITED

45,6 I 9.200

60.00%

45,619,200

60.00*Z»

Total Substantial Shareholdings

45,619,200

60.00%

45,619.200



60.00%



Directors' Shareholdings (direct and indirect), excluding directors with substantial interests

0

0.00*/•

0

0.00°.



0

0.00'z0



0

0.00°/•





0

0.00%t



0

0.00'/

0

0.00%

.Suncl a O €9‹_'unno» o

1,584

0.00%

1,584

0.00%

Robert Tung

0

0.00%0

0

0.00%

Total Directors' Shareholdings

1,584

0.00%

1.584

0.00%

Other Influential Shareholdings

.4nan4br‹i St:ite Min. of Finance

152.064

0.20%i

152.064

0.20'/»

Total Other Int4uential Shareholdings

152.064

0.20%

152,064

0.20%t

Free Float in Units and Percentage

30.259.152

39.80%

30.259,152

39.80%

Free Float in Value

H 1.231,547,486.40

H 1,119,588,624 00

Declaration:







C › fiQd Thu e by: ¿-



Finance Manager

rac/zozz/rao/mu/ooi/<>

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