Quarter 2 - financial statement for 2026

Nigerian Enamelware Plc.

RC 2192

Unaudited Financial Statements

For the period ended 31st October 2025

Certified True' y:

Chief Executive0 ”cer 1

FRC/2O22/HRO/MI 0 002 9

Finance Manager

FRC/2O$ 8/ •'RO/OIRf0O3/OOOOOO1819I

2025f26 SECOND QUARTER FINANCIAL REPORTS CERTIFICATION UNDER SECTION 60(2) OF THE INVESTMENT AND SECUB3TY ACT(ISA) 20ii7

We herby certify that :

1. The Directors have reviewed the report;

2. To the best ofour knowledge the report does not contain :

   1. Any untrue statement of a material fact, or

   2. Omit to state amaterial fact, which would make the statemenJisleading in the light of the circumstances under which such a statement was made;

3. Based on our knowledge, the financial statement and other

   financial information included in the report fairly present in all material respects the financial condition and results ofoperations of the Company as of, and

   for the periods presented in the report.

4. The Directors:

   1. Arc responsible for establishing and maintaining internal controls.

   2. Have designed such internal controls to ensure that material information relating to the Company and its consolidated subsidiaries is made known to such officers by others within those entities particularly during the period in which the periodic reports are being prepared;

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

      (fY) HaYc presented in the report their conclusions about the effectiveness of the internal controls based on the evaluation as ofthat date;

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

   1. All significant deficiencies in the design or operation of internal controls which would adversely effeo a‹ company's ability to record, process, summarise and report finanical 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 otfier employees who have significant role in the Company's internal controls;

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

corrective ctions with regard to significant defidencies and material weakness.

CERTIFIED B

Taiwo Alli

Managing Director

Lawrence I. Iseh

Finance Manager

Nigerian Enamelware Plc

FRC/2022/PRO/NIM/002/00000024090

Nigerian Enamelwam Plc

FRC/2018/PROfD1R/003/00000018191

Nigerian Enamelware PLC

RC 2192

UNAUDITED INTERIM STATEMENT OF COMPREHENSIVE INCOME

FOR THE 6 MONTHS ENDED 31ST OCTOBER 2025

Certified True b .

Finance Manager

Chief Executive

Te To To

Bofiomind

Tr•de ma oilier ppblo Def•aed Iss 1i•biliii•s Oih•r Hi lines

Current in 1i•biliiin

2.338.302

1I 80,052

88.176

I ,Z I4 02

2,338.202

80,052

I ,896,0•8

88,176

2,2l6,990 I ,I 3I ,7M

CAPITA MD RCSERYES

1 2

ReYatwi on

13

38.0 16

38.0I6

GI ,O8G

Nigerian Enamelware PLC RC2192

STATEMENT OF CHANGE IN EOUITY 

FOR PERIOD ENDED 31ST OCTOBER 2025

FOR PERIOD ENDED 31 ST OCTOBER 2025

tCSUED SI-tARE

N'0O0

OTHER RETAINED

RESERVES EARNINGS N’000 N’000

TOTAL EQUITY

I*'/'0O0

balance at I st MAV 2025

Unclaitried Dr vJdend Wr ittcn Back last YEAR

I°rofit for the period Revaluaton Surplus

38,0 16

61,086

0

‹827,874)

(86.146)

(728,772)

0

(86. I46)

Balance at 3 1st October 2025

       38,016  

       6I.086  

             (914,020) 

FOR PERIOD ENDED 31ST October 2024

ISSUED SHARE CAPITAL N'000

SHARE RETA 1NED

PREMIUM EARNINGS N'000 N’000

TOTAL EQMTY

N’000

.SS AT 31S1 OCT. 2025

Interest received from similar income

         {7,611) -

Cashflow from financing activities

Nigerian Enamelware PLC

RC 2192

I.'NA tJDl TED NANCfA L STA TOMENT

FOR THE PERIOD ENDED âI OCTOBER 2025

1. I

I. 2

Nigerian Enanielware Limited was incorporated in Nigeria on 21 day 1960 as a Private limited liabilitv company.

If *ent public on 28 December 1979 in Cgmphajjce with rhe lndigenisation Decree of 197a ma •

grmied a listing on ihe Nigerian Siock Exchange. II adopted its present name ofNigerian

Enamel›vare Plc on 6 June 195 I in compliance wlth provisions of the Companies and Allied Matters Aci, 2020.

Principal activites

Nigerian Enamelware Plc is engaged in the manufacturing and marketing of enamelware, plastic products, galvanized buckets. Raw materials consisting of steel coils, chemicals, enamand moulds are obtained from both local and overseas suppliers.

TURNOVER

Turnover represents the total amount invoiced to customers for goods supplied and services rendered after deducting trade discount and commissions.

Enamtl»'are products etc. Other Income - scraps sold

PROFIT BCFORE IAXATIO>

is arri›’ed a after charging

Interest & similar charges

Unaudiied iTRS  

       3mks      

0O08£20D5

To

   Jl10/202f     N'O0O

404,509

       38,937      

       TFRS      

       3mTs      

0N08/2024

To

   3U10fl024    

N'000 291,366

57,747

UneuitedFRS  

       6mOs      

000ffl025

To

   J110202S    

H'O0O

       ILRS      

     6mis        0N0SY024

To

   J1/10€024     n'0H

850,056

       99,fy8      

Taxation

             0  0  

             0  0  

3'a.xation is provided on taxable profit at current rete (estimate)

Cerallied True b

Chief Eaecutlve

Nigerian Enainelware PLC

RC 2192

UNAtJ0f1ED DNANCIAL STATEMENT

row ter rrnionExozn at ocr z»zs

NOTEC TO TUE ACCOUNTS

5 FTXED ASSETS

Summary

Property, plant and cguipmcnl

Capital Planl and Work To Progress machinery

Furniture & tvtotor Vehicles

Total

N'000 N'000

N'MO

N'OOQ

N'00g

At 30 April 2025 Additions Transfer

At 31 October 2025 ñxumuaAdzpnxiMionsnd At 30 April 2025

Charge for be year 2025 lmpaim*nt Io*s

2g | g 6,75y

8.974

826,102

826,102

543.909

20.559

667

BSS

1.522

667

2l

1,169

I, I69

1, 169

830, 155

7,611

837,767

545,745

20,580

nt 3I October 2025

           0  564,468  

       688  

       1 169  

     566,325  

       8,974  

     261,634  

       833  

     271,442  

2 Leasehold Land and Building.

       2,218  

282,I93  -  284,411  

The Com9eny's hoid Land and Building was disposed off in year 2023 to rsise working capital

Nigerian Enamelware PLC

RC 21g2

1. DNA I'DITED FINANCIAL STATEMENT

   FOR THE PERIOD ENDED 31 OCT 2025

   NOTES TO TIME ACCOUNTS

   STOCKS

   Raw materials A'ork-in-progress Finished goods

   Machinery spare paris

   Consumables

   Provision for obsolete siocks

   TRADE DEBTORS

   Grade Reyivable -Third Parties

   Trade Receivable -Related Parties

   lJnaudited

        3 mths      

   01f08/2025

   To

      31/10/2025    

   268,323

   12.333

   55,3d9

   0

        t! 4,709) 

   321,326

   12,525

   3,780,489

   IFRS

        3 mths      

   01/08/ZO24

   To

      3t/t0/2024    

   219,439

   98,227

   687

        (14,709) 

   16,092

   3,84 1,978

   Unaudited

      6mOs       01£O5fl0ZS

   To

      3I£1On0z5    

   268,323

   12,353

   55,359

        (14,709) 

   J2t,Z26

   12,525

   3,780M89

   IRS

      6mGs       0N0V2024

   To

      31/10/2024    

   219,439

   98,227

   687

        (14,709) 

   16.092

   3,841,978

   Pro 'lsion tor Doubtfiil aebts

      (2,668,044)      (2,668,044)        2,668,044]      (2,668,044) 

   Staff debtors

   Other Receivable+Prepeyment

   OTHERS

   1. CREDITORS AhD ACCRUAUS

      Trade and other payables Other liabilities

   2. PROVISION FOR TAXATION

   AI the beginning of the period / year

   Charge for the period / year Payment during period / year Capital Gain Tax

   i1 Deferred Tsxstion

   Deferred tax liabilities

   1, 124,969

   2,405

        754,8 11  

        1,882, 185  

   2,.38,302

   865,846

   0

        248,357  

        I ,114,203  

   80,052

   1,190,026

   1,210

        180,596 

        1,371,832  

   1,896,048

   868,459

   0

        248,35 7  

        I , I 16,8 15  

   88, T76

   T,M4,969

   2,405

        754,811  

        1,882,185  

   2,338,302

   883,427

   0

        248,3?7  

        l,13t,784  

   80,052

   1, I 90,026

   1,2 10

        180,596  

        I ,37t,832  

   1,896,048

   868,459

   0

   (2,6131

        248,357  

        1,I 14,202  

   88, 176

   Deferred tax assets

            80,052  88, I 7G  80,052  88, I 7G  

   Cenified True

   Nigerian Enamelware PLC

   RC 2192

   UNA UDITED FINANCIAL STATEMENT

   Unaudited 3 mths    01/08/2025 To 31/10/2025   12 SHARE CAPITA L N’000 I Authorised		IFRS 3 mths     0l /08/2024 To 31/10/2024   N'000		tJnaudited 6 mths      01/05/2025 To 31/10/2025   N’000		IFRS 6 mths    01/05/2024 To 31/10/2024   N’000
   76,032,000 ordinary shares of 50k each 38,016		38,016		38,016		38,016
   38,016				38,016		38,016
   76.032.000 ordinary shares of 50k each 38,016		38,016		38,016		38,016
   I3	Retained earnings At the beginning of the period	(847.304)	(674,381)	(766,788)	(782,266)
   	Bonus Share Profit contributable to owners of the company	(5,630)	(7,289)	(86,146)	100,596
   	Dividend paid
   	At the end of the period	(852,934)	(681,670)	(852,934)	(681,670)

   FOR THE PERIOD ENDED 31 OCT 202S NOTES TO TifE ACCOUNTS

2. Issued and fuTTy paid

1. HOLD COMPANY

   The holding company I-Feng Limited incorporated in Hong Kong and holds 60% of the company's equity.

2. GURANTEE AND OTHER FINANCIAL COMMITMENTS

Retirement benefits

The coinpany provides a guarantee scheme for the benefit of its regular eiriployees. These benefits are based on the employees' years of sco'ice and the terminal salary. The contribution of the employer and the employee to the reiirment benefits scheme as required by the Pension Reform Act 2004 is 10% and 8*› of respectively.

Financual Commitments

The Directors are of the opinion that all known liabilities and commitments which are relevant in assessing the states of affairs of the company have been taken into consideration in the preparation of theses accounts.

Charge on assets

The company's overdraft and acceptance facilities inclusive of documentary credits are secured by a negative

Certified Tr•e

his Ea

NIGERIA LNAMELWARE PLC

UNAUDIT2D FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2025

Revenue

Profit/(Loss) before taxation

Protit/(Loss) after taxation

Earnings per share (kobo)

(113)

132

Ce red ue b

ChiefE

ffi

FRC/2022/PRO/N 002/00000024090

Finance Manager

FRC/2018/PRO/DIR/003/00000018191

NIGERIA ENAMELWARE PLC

UNAUDITED FINANCIAL STATEMENTS FOR THE PERION ENDED 31 OCTOBER 2025 IN SIDER TRADING AND PRICE SENSITIVITY INFORMATION

l'he 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 intormation is released to the public or any other period as defined by the Company from time to time.

Certified True b

Ch ief E¥e

Finance Manager

COMPANY NAME BOARD LISTED YEAR ENDED

REPORTING PERIOD

NIGERIAN ENAMELWARE PLC FREE FLOAT COMPUTATION

NIGERIAN EI'iAMELWARE PLC

us socno

30TH APRIL

2ND QUARTER ENDED 3 IST OCTOBER, 2025

SHARE PRICE AT END OF REPORTING PERIOD N45.00 (2024 N19.30)

Shareholding Structure/Free Float Status

Declaration:

Certified True by:

Chief cutive cer FRC/2022/PRO/NIM/ 2/ 4090

Finance Manager

FRC/20l8/PRO/DIR/003/00000018191