Nigerian Enamelware Plc.
RC 2192
Unaudited Fi14‹li4CUI Statements
FOl the perlod ended 30th April 2026
Certif‹e
by:
Chi
cutive Officer
FRC/202Z/PRO/NtM/002f00000O24090
Finance ansget
FFTC/2O19/RRO/tCAHf"OD6/0OO0OOf 9 $9 1
2026 FOURTB QUARTER FINANCIAL REPORTS CERTIFICATION UNDER SECTION 60(2) OF TBE INVESTMENT AND SECURITY ACT(ISA) 2007We hereby certify that:
Tbe Directors have reviewed the report;
To the best of our knowledge , the report does not contain:
Any untrue statement of amaterial fact, or
Omit to state amaterial fact, which would make the statcmentjnisleading in the light of the circumstances under which such a statement was mede;
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
inthe report.
The Directors:
Are responsible for establishing and maintaining internal controls.
Have designed such internal controls to ensure that material information relating to the Company and its consolidated subsidiaries are made known to our officers by order within those entities particularly during the
ps‹n n Chi x ae periodic reports are being prepamd;
Have evaluated the effectiveness of the Company's internal controls as of date within 90 days prior to the mport;
Have presented in the report our conclusions about the effectiveness of the internal controls based on our evaluation as ofthat date;
‹) The Directors have ai a« given opportunity to the Auditors ofthe Company and
Audit Committee:
All significant deficiencies in the design of operation of internal controls which would adversely affect 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
Any fraud, whether or not material, that involves management or other employees who have significant role in the Company's internal controls;
corrective actions with regard to sigriificant deficiencies and material wealmesses.
CERTIFIED BY
Taiwo Alli Managing Director
Nigerian Enamelware Plc FRC/2022/PROfNM003/00000024090
Lawrence I. Iseh Finance Manager
Nigerian Enamelware Plc FRC/2018/PROflCAN/006/00000018191
Nigerian Enamelware PLC
RC 2192
UNAUDITED INTERI M STATEMENT OF COMPREHENSIVE INCOME FOR THE 12 MONTHS ENDED 30TH APRIL, 2026
Uizaudited IFRS | 1FRS | I FRS | IFRS | |
3 Months | 3 Months | t2 M onthe | 12 Monlhs | |
01/02/2026 To 30/04/2026 | 01/02/2025 To 30/04/2025 | 0l /0ñ/2025 To 30/04/2026 | 01/05/2024 To 30/04/2025 | |
N'000 | N'000 | N'000 | N'000 | |
Revenue | 803,368 | 338,568 | 1,301,835 | 1,431,093 |
Cost of Sales | (610,708) | (325,399) | (1,253,0 12) | (1,376,960) |
Gross Profit | 192,660 | 13,169 | 48,823 | 54,133 |
Other incomes | 29,782 | 14,878 | 68,7 19 | 114,056 |
Distribution Expenses Administration Expenses | (41,756) | (78,939) | (1 61,706) | (14.3,255) |
F'rcvisicn For DUlJbt ful Debts | ||||
Operating Profit | 180,686 | (50,892) | (44,164) | 24,934 |
I- inancial Imime | ||||
Financial Costs | 0 | 0 | 0 | 0 |
Net Financial Tncome/(Cost) | 0 | 0 | 0 | 0 |
Profit before Tax | 180,686 | (50,892) | 24,934 | |
Income Tax (Estimate) | (9,458) | (9,458) | ||
Profit/(Loss) for the period | 180,686 | (60,350) | (44,164) | 15,476 |
Non-controlling interest | ||||
Profit/(Loss) retained for the period | 180,686 | (60,350) | (44,164) | 15,476 |
Basie earnings per share (kobo) | 238 | (79) | (58) | 20 |
Bert d T
Nigerian Enamelware PLC
RR. 2t92
ST.ATEMENT OF FINANCIAL POSITION
A$ AT 30TH APRIL 2026
.'xssETS
Nun-current assets
Propels, . plant and equipment
kotaT non-Cu r ren t ayset4
Current ossets Inventories
Trade and other receivables tither debtors - Prepayments Due from related companies Cash and bank balance
2510t7 | 284,4I I | 255,067 | 284,4 I I | ||||
2550G7 | 254,411 | 255067 | 284,411 | ||||
6 | 689,838 | 283,204 | 689,838 | 283,204 | |||
7 | 1,165,922 | 1,199,609 | 1,165,922 | 1,199,609 | |||
8 | 23,600 | 694,789 | 23,600 | 694,789 | |||
790j73 | 238,041 | 790,373 | 238,041 | ||||
2669734 | 2,4l5,643 | 2,669,734 | 2,4t5,643 |
•iote
Unau‹fited IFRS
0N02R0z6
To
30/04/Z026
S months
IFRS
01f02n025
To
30/04/2025
N'000
IFRS 0l/05f2025
To
30/04f2026
12 monthe
N'000
IFRS
0lftl5f2024 To
30/04/2025
12 months
N'000
Total assets | 2,924,800 | ,700 054 | 2,S24,600 | 2,700,054 | ||||
Current liabilites | ||||||||
Br›rroe'ings | ||||||||
l"rade and other pn;abIes | 9 | 2,216,990 | 2.487,762 | 2,2 I 6,990 | ||||
Delirred I; Iiabilities Other liabilities | I I 9 | 80.052 | 80.0'i2 | 80.052 | 80.052 | |||
Current tax liabilities | 10 | I , 129,922 | 1,|31,784 | 1,129,922 | 1,1 31,784 | |||
Total current liabilities | 3,697,736 | 3,428,826 | 3,697,736 | 3,428,B26 | ||||
TotaI Asscte less Current liabilities | (772,936) | (728,772) | ('772,936) | (728,772) | ||||
£?APITAL AND RESERVES Called up share capital | 12 | 3g,016 | 38,016 | 38,016 | 3g,0l 6 | |||
Share Premium Other Reserve | 7 | 61,086 | 61,086 | 61,086 | 61,086 | |||
Retained earnings | 13 | (1,052,724) | (843,350) | (827,874) | (843,350) | |||
Profit and Loss | 180,686 | t5,476 | (44,164) | I 5,476 | ||||
Shareholders' funds | (772,936) | (728,772) | (772,936) | (728,772) |
The tincill statements were approved by' ihe Board on Monday' 25th May 2026
Nigerian Enamelware PLC RC2192
STATEMENT OF CHANGE IN EOUITY
FOR PERIOD ENDED 30TH APRII. 2026
FOR PE RJOD ENDED 30TU APRIL 2026
OVER
ISSUED 5ItARE szszavss
CAgTTAL
VOOO
RETAINED
DGS
I'00O
Prollt for the period Reveluaton Surglus Balance at 30 th April 2026
FOR P £RtQD ENDED 30 th April 2025
38,0T 6
38,016
HGUEDSHARE
CAPITAL
6t.086
61,086
OTHER
RESrRYES
(44 164)
(872,038)
(728.772)
(772.936)
TOTAL. EQUITV
Balance at fat May 2024 | 38.0I6 | 61,086 | (843,350) | (744/48) | |||
Addition in the year | 15,476 | 1 5,476 | |||||
Profit For thc period | 0 | ||||||
Rcvalualon Surglus | |||||||
Balance at 30 lh Apn 1 202a | 3g,0l6 | 61,086 | (822.874) | (728,772) |
Nigcrisn Ensmelwnrc PLC RC zi 92
STATKMENT OF CASH FLOWS AS AT 30TH APPL 2026
t ash receipt from ctistcJmerS
Pre+ceed from Disposal oF Assets
L ashPaid io Suppliers end Employees I ax Iiabilities paid
Administrative expenses paid Income tax paid
Unaudited IFRS
OF/02/Z026
To
30/04/2026
N'000
863.621
(286.957)
IFRS 03/02/2025
To
30€4O25
N'000
363,960
( I,023.782)
IFRS 01/05f2025
To
30/04/2026
jv'ppp
12 TOGthS
2,816,669
2,250.448)
( 1.863)
0
IFRS
tilfti5f2024 To
50/04/2025
12 Months
307,766
(486591
2.6t5)
0
Net cssh generated by operating activities
(659,822)
Cashgoa From in'esting aetivittes
Purchase of fixed assets
(3,301)
0
( 12,026)
(9,7 I 8.00)
lntemst received from similar income
(12,026) (9,718.OO)
Cushion from i"inaucing activities Unclaimed dividend returned/Interest paid Dividend paid
Net cesh generated by financing activities
0 0
0
0 0
Net increase / (decrease) in cash and cash equivalent | 373,363 | (659,822) | 552.332 | (1 g 1, 156) | ||
tash and cash equivalent at beginning of year | 217.010 | 897863 | 238,041 | 429, 197 | ||
Cash and cash equivalent at end of year | 790,373 | 238,04t | 790,373 238,041 | |||
Nigerian Enamelware PLC
RC 2193
I' A I 'DITED FDA CCIAL STA TSMELT FOR TI IE PERIOD ENDED 30 April 2026
Nigerian Enameli•sre Plc eves incorporated in Nigeria on 2I May 1960 as a 1imiied liebility compan}'. It went pubs ie on 28 December 1979 in compr iance with the Indigenisation Decree of 1977 end was grant ed a listing on the Nigerian Stock Exchange. It adopted its present name ofNigerian Ename1•'are Plc on 6 June t99 I in compliance with Companies and Allied Matters Act. 2020
Nigerian Enamelware Plc is engaged io the manuFacniring and marketing of enaajelwaic, plastic products. galvanized buckets. Raw materials wnsisting of steel coiIs, chm ieels, enamel and moulds are obtained from both local and overseas suppliers.
TI'RNO'¥f,RTurnover represents the total emouni invoiced to customers for goods supplied and services rendered afler deducting trade discount and commissions.
Unaudited IFRS 3mths
IFRS j 2mihs
To To
J004/?026
0 1.'05''t025
To
30/04U026
0 j/05/2034
To
30/04/2025
N'QQO
Enameluare products etc.
Other Income - Scraps Sold/Profii on assets sold
enorrr azronr rnionis arrived at after charging Interest @ similar cfiacges
803 68
29,782
14,878
0 0
Tstation is proc ided on +asablc profit at curtenl rate (est imate )
f•igcrisn Eo•eieVare PLC
tlNA UDITED FINANCIAL WTAT £MENT FOR THE PEBIOD ENDED 30 APRIL 2026
NOTUS TO THE ACCOUNTS
5 FRED ASSETS
s M
Eqiprncnt Total
As 30 '•pn1 2026
2,2Z8 l0,W
I I69
0
2 218
1,169
0
RC 2192
UNA UDITED FINANCIAL STATEMENT
FOR TM £ PERIOD ENDC D 30 API 2026
I I naudiied
3 mihs
0 I/0272026
To
irRs
3 mths
0 I /02/2025
To
IFRS
) 2 mths
0 I/05/2025
To
IFRS
12 mths
To
30/04C026 30/04/2026
6
30/04f2025
573.544 | 254,871 | |||
Work•in-progress | 60,8g4 | 2 t,999 | 60,88d | 21.999 |
Finished goods Consumables | 70.I l9 0 | 2 I ,043 | 70.I l9 |
Provision For obsolete stocks
(l4,709) ( 14.709)
689,836
THE DEBTOWOT8ERGTrade receivabie - third pdf #$ Trade reeei tabie - related parties
I 1.636
3,758, 173
3.792. 134
12,8] 7
Provision for Doubt fui debts
fi1aT I"dcbiors - Luan
12,668,044)
1. 10 1.765
580
I 2,668.044
1,10 i ,765
5 g
tit)er recei vahle
62, I22
62.122
62. j22
1.I 99,609 1.1GS.9ZZ
CREDITORS AND ACCRUALS
Trade and other payables Other liabilities
j 0 PROVISION FOR TAXATION
At the begnning of the penod / year Chorge lfir the period 7 v#gr Payment during period / year
33,600
23.600
2.483,762
694.789
69#,79
2.216,990
868,459
]7.58 ]
(2.6 ] 3)
33,600
23,600
2,48'7,762
883,427
694,789
h94.7$9
2,2 I 6.990
868,459
(2,613)
Capri1Gain Tax
2 8.Jd7
248.35y
248.3 57
l,1J9,9j2
1,13 I.784
1. j 29.922
I , 13 ] .784
I I Deterred TssaHon Deferred tax Iiabilities
80.052
80.052
80,052
80.052
De(erred tax ussets
0
80.052
80,0fi2
80.052
80.052
Unaudited | IFRS | IFRS | irRs | ||||
3 mths | 3 mths | 12 mths | |||||
0 I /02/2026 | 01/02/2025 | 01/05/2025 | 0l0520I4 | ||||
To | To | To | To | ||||
30/04/2026 | 30/0d/2025 | 30/04/2026 | 30O4€02d | ||||
N'000 | N'00O | NOOO | N'000 | ||||
76,032.000 ordinary shares o1' 50k cach | J8,0l | 38.0T 6 | 38,0T6 | 3g,016 | |||
J8,0l | 38,0T 6 | 38.0 I6 | 38.0t 6 | ||||
76,032,000 ordinary shares of 50a each | 38,016 | 38,0T6 | 58,0 6 | 38,0T 6 | |||
13 Retained oemTngs | |||||||
At the beginning of the period | (1,052,724) | 61 .086 | (82'/,874) | 61,086 | |||
Unc)aimcd dividend refunded/Qhcr reserves | 61,086 | (843,350) | 61,086 | (843.3'i0) | |||
Profit contrihutable to owners oFtfie compan}' | 180.686 | 15,4'76 | (44.I64) | 15,476 | |||
Dix'idcnd peid | |||||||
At the end of tf+e period | (BE 0,962) | (766,788) | (810,9.52) | ||||
14 HOLD COTPAN V |
The holding company I-Feng I.imitcd incorporated in Hong Kong and holds 60% of the company's equity.
TTTu cump‹ny prov ides a guarafJtcc scheme For lftc hcnefit of its regular cmp)oees These benefits are Gased on tfJe employees' years of service and the ieririinal salary . The contribution of the employer and Ge employee
to the reiirmcut benefits scheme as required by the Pension Reform Act 2004 is I 0.00% and 8.00% of respectively.
Financusl Commitments
The Directors are of the opinion that at1 know+I liabilities end commitments Which arc reinvent in asscssing the states of affairs of the company have been taken into Rons ideration in the preparation of theses accounts.
Charge on assefs
Thc company's overdraR and acceptance Facilities mclusive of d0cumenu+ry credits are secured by a negative
I^•igerien FnemeI• are PI .C
FOR THK BFRt OD K DKD 30 Aprtl 2026
30 APRIt. N'000 | 30 A PR11. 2025 N'0EJ0 | |
Profit(I.oss} bcForc taxation | C•4,164) | I. fi45, 149 24.934 |
Tax Fxpcnscs | (9468) | |
Prolit/(Loss) aRcr ovation | 15,476 | |
Earnings per share (Lobo) | I0 |
Cedi
Chie Executive Officer
Finance iVianager
rna/Neo local economist
NIGERIA ENAMELWARE PLC
UNAUDITED FINANCIAL STATEMENTS FOR THE PERION ENDED 30 APRIL 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
Finance Manager
YEAR L? D
SHARE PRICE AT END OF REPORTING PERIOD
NIGERI AN ENAMELW ARE PLC MA IN BOAftD
30TH APR1L
4TH QUARTER ENDED 30TH APRIL 2026 N37.00 (2025 N25.30)
Descri tion
Unit
30-A I-26
Percen e Unit
30-A r-25
Percents e
Issued Share Ca ital
so tRl SMrit+cldu& {m mn6 th) '.'':' . " ' '- ' .
76,032,000
100% 76,032,000
100%
I-FENG COMPANY LllviITED Tiital Substanoal Sharchi›ldiii | ' | '. | 45,619,200 | 60.00% 60S0°A I: I | 45.6I9,200 45.fil9 200' | 60.00% .60:00•A |
nirectors' shareholdings (dlrect and lndlrectl, excluding director wn substantial | Interests | |||||
0 | 0.00* | 0 | 0.00% | |||
0 | 0.00% | 0 | 0.00% | |||
Lawrence Iseh | 0 | 0.00% | 0 | 0.00% | ||
Olani i Ban'o | 0 | 0.00% | 0 | 0.00% | ||
Yu'un Tan | 0 | 0.00% | 0 | 0.00% | ||
Robert Tung | 0 | 0.00% | 0 | 0.00% | ||
Sunda O O unnowo | 1,584 | 0.00% | 1,584 | 0.00% | ||
Robert Tun | 0 | 0.00% | 0 | 0.00% | ||
Total Doors' gbaiuhoi' ' ' | ||||||
Otflor'{rrfltJond8l $tumttoml |
Anambra State Min. ofFinance
Total Other.Iu1tuenual ShirchoJdio s
rree rloat In Units and Percentage free Float in Value
Declaration:
(A) fiigeria Enamel ware Co. Plc with a free fioat percentage of 39.80% +s at 30 Apr. 2026, is compliant with The Exchange's free fioat requirements for companies listed on the Main Board. |
(B) Nigeria Enamelware Co. Plc with a free float value ofN765,556,545.60 as at 30 Apr. 2025, is compliant with The Exchang*'s free fioat requirements for companies listed on the Main Board. |