Quarter 3 - financial statement for 2026

Niberian Enamels are Plc.

RC 2192

Unaudited Financial Statements

For the pei‘iod ended 31st January 2026

Certi

Ehiexecu0 te

FRC/2OF 2/RRO/N IM/OO2/OOOOOO24090

financelManager

FRC/2018/PR 0/DIR/009/000OO01BJ91

AND SECURITY ICT(ISA) 2007

We herby certify that :

1. The Déectors have reviewed the report;

2. Based on the knowledge ofthe officers, the mport does not contain:

   1. Any untrue statement of amaterial fact, or

   2. Omit to state amaterial fact, which would make the statement,mis1eading in the light of the circummnces under which mch 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. Are responsible for establishing and maintaining internal controls.

   2. Have designed such inernal controls in 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 ae periodic reports are being prepared;

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

   4. Have presented in the report their conclusions about the effectiveness of the internal controls based on the 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 or operation of internal controls which would adversely affect the 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 other employees who have significant role in the Company's internal controls;

I) The Directors have identified in the report whether or not there were significant changes in internal connols or other factors that could 9ignificant changes in internal controls or other factors that could significantly affect internal controls subsequent to the date oftheé evaluation, including any corrective actions with regani to significant defidencies and material weakness.

CERTIFIED BY

Taiwo Alli Managing Director

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

Lawrence I. Iseh

Finance Menggor

Nigerian Enamelware Plc FRC/20t8/PRO/DIR/003/000000t8t9l

Nigerian Enamelware PLC

RC 2192

UNAUDITED INTERIM STATEMENT OF COMPREHENSIVE I NCOME FOR THE 9 MONTHS ENDED 31ST JANU ARY 2026

Nigerian Enamelware PLC

RC21DD STATEMENTOFFINANCMLPDSITION ASATMSTJANUARY204

Unauditcd IFRS    IFRS          Unaudied IFRS    IRS IFRS

omtnozs oi/i t/zoz4 oi/os/zozs ot/os/zoz‹ olasno7j

To To To To To

si/otnoes    aixnnozs    ai/si/zozs    st/oi/zozs solo+nozs JmowEA Jmowh 9monA 9 ooot8 l2moatli N'00O N'OO0 N’0OO N'OOO N'OO0

z,7M,@l7

Total aeceh

(728,772#

Total Assets less Curzeet jab lies (668,42'#) 

CAPMALANDR¥SERWES

     (9S*,622/

The Gnencial stafezocnts were uqproved by the Board of Directors on 20tb February. 2026.

Nigerian Enamelware PLC RC2192

STATEMENT OF CHANGE IN EOUITY

FOR PERIOD ENDED 31ST JANUARY 2026

FOR T'ER1OD ENDED 31ST JANUARY 2026

Balance at 1st May 2025 Profit for the period Revaiuaton Surplus

Balance at 31st January 2026

ISSUED SHARE CAPITA L N’000

38,0 16

016

OTHER RESERVE

61,086

     61,086  

RETAINED EARNINGG

N'000

(827,874)

(124,850)

   (1.052,724)  

TOTAL EQUITY

N'HO

(728,772)

0

(224,850)

     (953.622)  

FOR PERIOD ENDED 3tST JANUARY 2025

ISSUED SHARE CAPITAL N’000

OTHER RETAINED

RESERVE EARNINGS N’000 N'000

TOTAL EQUITY

N’000

Nigerian Enamelware PLC

RC 2192

STATEMENT OF CASH FI.OWS AS AT 31ST JANUARY 2026

Caebtlow trom financing activities

Interest paid 0 0 0 0

Dividend paid 0

Net cash generated by fioaneiay aCtivifies 0  

Nigerian Enamelware PLC

RC 21q2

1? AICITED FINANCIA L STATEMENT

FOR THf PER iOD ENDED 31 JAN£*ARY 202G

NOTES TO THE ACCOt*hTS

I THE tIMPA.NO

Nigerian Enamelware Plc was incorpornied in Nigeria on 21 May 1960 as a limited liability company. II »’eiat public on 28 December 1979 in compliance with the lnñigenisation Decree of 1977 and was granted a listing on the Nigerian Stock Exchange. It adopted its present name ofNigerian

£namelware Plc on 6 4urge 199 I in compliance oil Companies and Allied Matters Aci, 2020

Principal activities

Nigerian Enamel›sare Plc is engaged in the manufacturing and marketing of enamelware, plastic products, galvanized buckets. Raw' materials consisting of sieeI coils, chemicals, enamel and moulds are obtained trom both local and overseas suppliers.

1. Tt RNOYER

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

   	lJnaudiled IFRS          Smms	IFRS              3mths	Unaudiied IFRS          9mGs	lFRS              9mb
   	01/11/2025 To	01/I I fz024 To    31/01/2025	01£0S/20JS To    5N0l2026	O1/O5fl02g To    31/O1f20D5
   	'000	h'000	N’000	N'000
   Enanielware products etc.	d7,3d7	242,469	498,467	1,092,525
   Oiher Income - Scraps Sold	d7,3d7	242,469	38,937            *37,d04	1,191,703
   PROFIT BFFORG TATA TION is arrived at afler charging
   Interest & similar charges
   4 TaxzGon	0	0	0	0

   Taxation is proc ided on taxable profit at current rate (estimate)

   C e Executive ONE-er

   Nigerian Enanielware PLC

   RC2I92

   NOTES TO THE ACCOUNTS

   5 FfXED ASSETS

   lanl Bnd e u’

   ""^"^^ ! ’ Motor Vehicles fiumiturc & OFFICE

   N’000

   FIXTURES equipment

   At 30 April 2025 Additions

   Tmns •r

   Disposals

   At 3l January 2026

   AOOlJzaulatcd depreciation and

   mpaJrment

   At 30 April 2025

   8! minuted on disposaj

   2.218

   826,102

   10.9g2

   826,102

   T, l69 667        

   543,909

   30,885

   I. T69

   dd7

   667

   0

   BSS

   0

   43

   830.155

   9,579

        839.735  

   30,928

   At 3 I January 2026

   Carrying amount

   574.794        1,169          667 

        576 672  

   *s 3I January 2026

   As 30 April 2025

   10,942 2s 1,308

            0        812  

                      0  

        263,062  

        284,4]    

   Nigerian Enamelware PLC

   RC 2192

   L!NAL!DITED FINAN		L STATEMENT
   FOR TffE PfRlOD ENDED 31 JAN 202G
   NOTES TO IIIE .4CCOtJTTS					Jnaudiud		IFRS
   		3 mths		3 mths	9 mv		9m#m
   	STOCIG	01II 1/2025 To    31/01/2026		0I/1t/2024 To    3/0J/202*i	01/05/2025 To    3l/0/2026		01/0S/t024 To    30012025
   	Ran' materials	694,55B		286,083	694,558		286,083
   	VorL-in-progress	53,881		36,743	53,88I		36,743
   	finished goods	40,891		40,677	40,89 1		40,677
   	tvtachinery spare parts Consumables Provision tor obsolete stocks	D      (4,709)		0      ( 14,709)	(14,709)		( I 4,709)
   		77'*,621		348,794	77d.621		348,794
   	TRADE DEBTORS Trade Receivables - Third Parties	13.35 I		9,729	I 3,3a I		9,729
   	Trade Receivables - Related Parties	3,758,615		3,814,178	3,75g,6l 5		3.8l4,178
   	Provision tor Doubtful debts	(2,668,044)		(2,668,044)	(2,668,044)		t2,668,044)
   		i, 103,922		1,155,863	I, T03,922		1,155,863
   	Statf debtors	3,3 l0		790	3,310		790
   	Other Receivables+Prepayments	368.822		98,581	368,822		98,581
   		1,476,055		1,255,234	l,4'7d,055		1,255,234
   9	CREDITORS ANW ACCRUALS Trade and other payables	2,474,397		2,252,863	2,474,?57		2,252,863
   I0	PROVISION FOR TAXATION At the beginning of the period / year	883,427		863,846	883,427		868,459
   	Chuge for the period / year	0		0	0		0
   	Petmeni during period / year	(1,863)		0	(1,863)		(2,613)
   	Capital Gain Tax	2d8,357		248,357	248.357		248,357
   		I, 129,921		1,114,202	1, 129.92 I		I ,I I 4,202
   	Deferred Taxation Deferred iax iiabiliiies	80,052		88, 176	80,052		88,I7G
   	Deferred tax esseu
   		80,052  88, 176			80,052		88,176

   Nigerian Enamelware PLC RC 2192 UNAUDITED FINANCIAL STATEMENT FOR THE PERIOD ENDED 3t JAN 2026
   NOTES TO THE ACCOUNTS
   	Unaudited	INRS	L.naudited		IFRS
   	3 mths	3 mths	9 mths		9 mths
   	0I/II/2025	0I/l 1/2024	0 i,'05/2025		0I /05/2024
   	To	To	To		To
   	31/01/2026	31/01/2025	31 '0I J2026		31/01/2025
   12 SHARE CAPITAL I Autborised	N’000	N'000	N’000		N’000
   76.032.000 ordinary shares of 50k each 38,0I6		38,016		38,016		38,016
   38,0 16		38,01 6		38,Q16		38,016
   2 Issued and fully paid
   76,032,IJ00 ordinary shares o£50k each	38,016	38,016	38,016
   1.3 Retained earnings
   .it the beginnin5of1he period	(914,020)	(742.756)	(827,874)		(843,352)
   Donus Share
   Profit contributable to owners of the company	( 138.704)	(24.770)	t224,850)		75,826
   Dividend paid
   At the end of the period	(1,052,724)	{767,526)	(1,052,724)		(767,S26)

   l4 HOLD COMPANY

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

   IS GURANTEE AND OTHER FINANCIAL COMMITMENTS

   Retirement benefits

   The company provides a guarantee scheme for the benefit of its regular employees. These benefits are based on the employees' years of service and the terminal salary, The contribution of the employer and the employee to the retirment benefits scheme as required bj the Pension R eLorm Act 2004 is 10% and 8°.ñ of resyectivelj .

   Financual Commitments

   The Directors are of‘the opinion that all kno»'n 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 ossets

   The company's overdraft and acceptance tacilities inclusive of documentary credits are secured b a negative pledge.

   ef

   tive O0icer

   VGERIAENAMELWAREPLCUN UDITSDMNANCIALGT8TEMENTSPORTBEF¥IWONENDEDMJ*NU*AY2O]&

   INSIDER TRADING AND PRICE SENSITIVITY INFORMATION

   The Company is clear inits prohibition ofinsider trading by its Board, Management, Officers and related persons who are privy to confidential price sensitivity information. Such persons are further prohibited from trading in8ie 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 aperiod commencing from the date ofre-ceipt of such insider information until such aperiod when the information is released to the public or any other period as defined by the Company from time to time.

   Taiwo Alli

   Nigerian Enamelware Plc

   Lawrence I. Iseh

   Nigerian Enamelware Plc

   COMPANY NnM :

   BOARD USED YE R AND

   REPORTING PERIOD

   SIIARE PRICE .AT END OF REPORTING PERIOD

   IWCOPLC VAT BOARD

   J°RfL

   3RD QJARTER EhDED 3 UT JAN. 2026

   Nd0.50 (202?: ?2 I .20)

   Issued Share Ca itai

   31.Jv-26

   Uh Percxta e Uoit

   76.032,000 I 00%

2. I -Jan-25

Percents e

76,032,000 100%

i-rENo cOMPnNY LI II TKD

Toial-SubstantalS of '

45,619,200 60.tJ0% 45,6 I 9.200 60. 00%

45,619,200 . .@.009› 45 6t9;200 °- 60.00°/

Managing Director

f4 iberian Enamel•are Plc

Finance Manager Nigerian Enamelware Plc

Market summary

NIGERIA ENAMELWARE PLC

UNA UD!TED FINANCIA£. STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2026

Revenue

Profit/(Loss) before taxation

Profit/(Loss) after taxation

Earnings per share (kobo)

Certified True by:

Taiwo AHi Managing Director

Nigerian Enamelware Plc

(296)

Lawrence I. I sett Finance Manager

Nigerian Enamel ware Plc

100