Unaudited Standalone and Consolidated Financial Results for the quarter ended 30th June, 2025

PCBL Chemical Limited (Formerly PCBL Limited)

nF san|iv Goenka Registered Office : 31, Netaji Subhas Road, Kolkata - 700 001. CIN : L23109WB1960PLC024602

*'°" Statement of Unaudited Standalone Financial Results for the quarter ended June 30, 2025 "'"'" "'" " Website : https://www.pcblItd.com, Phone No. : (+91) 33 408705001600

PCBL

CHEMICAL

Particulars

(Rs in Crores unless otherwise stated)

Standalone

Revenue from Operations Olher Income

Total Income Expenses

Cost of materials consumed Purchases of stock-in-trade

Change in inventories of finished goods Employee benefits expense

Finance costs

Depreciation and amortisation expense Other expenses

Total Expenses Profit before tax Tax expense Current Tax

Deferred Tax charge / (credit)

Tax relating to earlier years charge / (credit) Total tax expense

Profit after tax

Other Comprehensive Income / (Loss) (OCI) Items that will not be reclassified to profit or loss

Remeasurements of post employment defined benefit plans Changes in fair value of equity instruments through OCI

Income Tax relating to items that will not be reclassified to Profit or Loss

Other Comprehensive Income / (Loss) i •;•: '•

Total CéñiprefiéAsfve IrtCorllé

and

1,452.98

7.34

1,460.32

995.64

0.99

9.61

65.81

67.65

40.63

155.00

1,335.33

124.99

32.60

(0.70)

31.90

93.09

(0.69)

33.05

(4.27)

• .: 28.09.

1,447.50

22.25

1,469.75

1,011.75

1.16

12.98

69.98

69.18

41.20

136.97

1,343.22

126.53

30.44

1.34

31.78

94.75

(0.44)

(54.06)

7.85

>... "'. "• (46,65)

1,491.02

7.25

1,498.27

973.90

12.68

19.87

56.90

72.72

37.85

160.23

1,334.15

164.12

48.01

(0.17)

47.84 116.28

(0.71)

75.70

(9.07)

-r v¿?gg,g2_

.,«z4,

5,904.63

39.82

5,944.45

4,107.91

36.62

(51.94)

244.86

278.16

156.98

567.59

5,340.18

604.27

161.35

(8.52)

0.38

153.21

'451.06

(2.56)

119.75

(8.71)

.w-?e ?« 8.Wg

Other Equity

Earnings per equity share (EPS) ( Rs) (Nominal value per share Re. 11-) Basic

Diluted

(" not annualised)

(# after considering impact of share warrants (Refer Note 2))

2.47*

2.46*#

2.51"

2.50*#

3.08"

3.08*

3,705.40

11.95

11.92 #

Notes to the Unaudited Standalone Financial Results

1. Additional information as per Regulation 52(4) and 54(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Company has issued 70,000 rated, listed, secured, redeemable, non-convertible debentures of face value of Rs.1,00, 000 each, aggregating to Rs. 700 crores on January 29, 2024, subscribed by DBS Bank Limited, Reliance General Insurance Company Limited, Aditya Birla Sun Life Mutual Fund (Credit Risk Fund) and Aditya Birla Sun Life Mutual Fund (Medium Term Plan) (collectively referred to as the "Debentures") , out of which 15% of the issue amount i.e. Rs. 105 crores have been repaid on January 29, 2025 and Rs. 595 crores is outstanding as on June 30, 2025 and accordingly the following disclosures are being made as per Regulation 52(4) and 54(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

" not annualised

(# after considering impact of share warrants (Refer Note 2))

## Ratio is below the rounding off norm adopted by the Company.

The debentures subscribed by DBS Bank Limited for Rs 615 crores (Rs. 522.75 crores is outstanding as on June 30, 2025), Reliance General Insurance Company Limited for Rs 50 crores (Rs. 42.50 crores is outstanding as on June 30, 2025), Aditya Birla Sun Life Mutual Fund (Credit Risk Fund) for Rs 15 crores (Rs. 12.75 crores is outstanding as on June 30, 2025) and Aditya Birla Sun Life Mutual Fund (Medium Term Plan) for Rs 20 crores (Rs. 17 crores is outstanding as on June 30, 2025) are secured by way of first ranking exclusive pledge over certain identified shares of 'Aquapharm Chemical Limited' (formerly known as 'Advaya Chemical Industries Limited') (a subsidiary of the Company) ("Subsidiary") on fully diluted basis to the extent of the security cover of 1,5x in terms of the share pledge agreement dated January 20, 2024 executed between the Subsidiary and the debenture trustee and March 20, 2025 executed between the Company and the debenture trustee.

There is no deviation or variation in the use of proceeds of issue of the Debentures from the objects stated in the Information Memorandum. The Company does not have any Outstanding redeemable preference shares as at end of each period presented.

There is no requirement of creation of capital redemption reserve/ debenture redemption reserve as per the Companies Act, 2013. As on June 30, 2025, the Company had the following outstanding listed Commerical Paper

Formula for computation of above ratios are as follows:

Debt Equity Ratio= Non Current Borrowings + Current Borrowings / Total Equity

Debt Service Coverage Ratio= Net profit after tax+ Depreciation and amortisation expense + (Finance costs excluding interest on lease Iiabilities+ net gain on foreign currency transaction+Main 6 Loss on disposal of property, plant and equipment) / Debt Service ( lnterest+ Principal Loan repayment).

Interest Service Coverage Ratio = (Profit Before Tax +Finance costs excluding interest on lease liabilities+net gain on foreign currency transaction)/(Finance costs excluding interest on lease liabilities +net gain on foreign currency transaction)

Net worth = Equity Share Capital excluding money received against share warrant + Securities Premium + General Reserve + Retained Earnings. Current Ratio = Total Current Assets / Total Current Liabilities

Long term Debt to Working Capital = Non current borrowings including current maturities of long-term debts/ (Current Assets- Current Liabilities excluding current maturities of long term debts)

Bad Debt to Accounts Receivable Ratio = Bad Debt ( including allowance for doubtful debts / expected credit loss ) / Trade Receivables Current Liability Ratio= Total Current Liabilities / Total Liabilities

Total Debts to Total Assets= (Non Current Borrowings+ Current Borrowings) / Total Assets

Debtors Turnover Ratio Days = Sales( Sales of Finished Goods and Traded Goods including GST+Sale of Power) / Trade Receivables*.

"The Company's turnover is highly sensitive to the changes in crude prices which may fluctuate widely between quarters. The Company, therefore, believes that the Debtors turnover days computed on the basis of simple average of the turnover days for each of the four quarters of the year will be more appropriate and reflective of company's operations. The turnover days for each quarter is derived by dividing the quarter-end outstanding debtors balance with sales for the respective quarter.

Inventory Turnover= Sales( Sales of Finished Goods and Traded Goods without GST+SaIe of Power)/ "Inventories(Raw Materials + Finished Goods + Stores and spares parts (including packing material)).

"The Company's turnover is highly sensitive to the changes in crude prices which may fluctuate widely between quarters. The Company, therefore, believes that the Inventory turnover days computed on the basis of simple average of the turnover days for each of the four quarters of the year will be more appropriate and reflective of company's operations. The turnover days for each quarter is derived by dividing the quarter-end outstanding inventory balance with sales for the respective quarter.

K 0 TA

Operating Margin (%)= Operating Profit (Profit Before Tax +Depreciation and amortisation expenses+Finance Costs+Payment of Lease Lia 1 §ai§ on foreign currency transaction+Loss/ (Profit) on disposal of property, plant and equipment -Other Income) / Revenue from Operations.

Net Profit Margin(%) = Net Profit ( Profit after Tax) / Net Sales ( Sales of Finished Goods and Traded Goods without GST+Sale of Power)

Notes to the Unaudited Standalone Financial Results

1. The Preferential Issue Committee of the Board of Directors of PCBL Chemical Limited (formerly PCBL Limited) (the "Company") at its Meeting held on May 7, 2024, has approved the allotment of warrants of the Company, on a preferential basis by way of a private placement. The Company had allotted 1,36,00,000 convertible warrants to Rainbow Investments Limited (Promoter) and 12,00,000 convertible warrants each to Quest Capital Markets Limited (Promoter Group) and STEL Holdings Limited (Promoter Group) on May 7, 2024 for an issue price of Rs 280 per warrant. Out of total issue price, Rs 70 (25% of the issue price) per warrant amounting to Rs 112 crores was received as the initial subscription amount at the time of allotment of the warrants during the year ended March 31, 2025. The amount raised, had been used fully for the purposes for which the funds were raised This has been considered for calculating diluted earnings per equity share as per Ind AS 33-Earnings Per Share

2. During the quarter ended June 30, 2025,the Company has issued 2,000 units of Commercial Paper of face value of Rs 5,00,000/- each aggregating to Rs 100 Crores, listed on BSE Limited pursuant to SEBI Master Circular No SEBI/HO/DDHS/PoD1/P/CIR/2024/54 dated May 22, 2024.

3. In accordance with paragraph 4 of Ind AS 108 - "Operating Segment", segment information. has been given in the consolidated financial results, and therefore, no separate disclosure on segment information is given in these standalone financial results.

4. The figures of the quarter ended March 31, 2025 are the balancing figures between audited figures in respect of full financial year upto March 31, 2025 and the unaudited published year-to-date figures upto December 31, 2024 being the date of the end of the third quarter of previous financial year, which were subject to limited review.

5. The above unaudited standalone financial results of the Company for the quarter ended June 30, 2025 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their respective meetings held on July 23, 2025. These unaudited standalone financial results have been subjected to limited review by the statutory auditors of the Company in accordance with Regulation 33 and 52 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015 ("the Regulations") who have issued an unmodified conclusion on these unaudited standalone financial results

Kolkata

July 23, 2025

RP- Sanjiv Goenka Group

G r a wI n g Le gac I es

By Order of the Board

Kaushik Roy Managing Director DIN: 06513489

Notes to the Unaudited Consolidated Financial Results

KOL hATA

Notes to the Unaudited Consolidated Financial Results

The above unaudited consolidated financial results of the Group relates to PCBL Chemical Limited (formerly PC BL Limited) (the 'Parent Company") and its subsidiaries, PC BL (TN) Limited, ^h!IIips Caro on Black Cyprus Holdings Limited (PC BCH L), PCBL Europe SRL, Nanovace Technologies Limited (NTL), Nanovace Inc.(wholly owned subsdiary of NTL incorporated on June 16, 2025), Phillips Carbon Black Vietnam Joint Stock Company (subsidiary of PG BMHL), Aquapharm Chemical Limited (ACL) (formerly 'Adva ya Chemical Industries Limited' (refer Note 5 oelow), Aquapharm Europe B.V (wholly owned subsidiary of AC L), Unique Solutions for Chemical Industries Company (USCIC) (wholly owned subsidiary of AC L), Aquapharm Chemical s LLC (AC LLC) (wholly owned subsidlary of AC L). Aquapharm Foundation( wholly owned subsidiary of ACL), USCI LLC (wholly owned su osidiary of USCIC), Aquapharm PChem LLG (wholly owned subsidiary of AC LLC), Aquapharm Specialty Chemicals LLC (wholly owned subsidiary of AC LLC), and Enersil Pty Ltd (Subsidiary of NTL w,e.f. September 23, 2024) (ColIective|y "the Group").

1. The Preferential Issue Committee ol the Board of Directors of the Parent Comoany at its Meetinq held on May 7, 2024, has approved the allotment of warrants of tne Parent Company, on a preferential basis by way of a private placement. The Parent Company had allotted 1.36,00,000 convenible warrants to Rainbow Investments Limited (Promoter) and 12,00,000 convenible warrants each to Quest Capital Markets Limited (Promoter Group) and STEL Holdings Llmited (Promoter Group) on May 7, 2024 for an issue orice of Rs 280 per warran l. Out of total issue price, Rs 70 (25% of the issue price) per warrant amounting to Rs 112 crores was received as the initial subscription amount at the time of allotment of the warrants during the year ended March 31, 2025. The amount raised. had been used fully for the Purposes for which the funds were raised.This has been considered for calculating diluled earnings per equity

   share as per Ind AS 33-Earnings Per Share.

2. The Board of Directors af Advaya Chemical Industries Limited ("ACIL" or "Transferee Company"), a subsidiary of the Parent Company, and the Board of Directors of Aquapharm Chemicals Private Limited ("AC PL" or "Transferor Company"), a wholly owned subsidiary of ACIL, at their respective meetings held on August 1, 2024 approved the Scheme of Amalgamation of ACPL with ACIL under Section 233 and other applicable provisions of the C omoanies Act, 2013 ("Scheme"). The Scheme provides for amalgamation of ACPL with ACIL and other matters incidental thereto.

The Central Government through the Reg ional Director, Wes1ern Region, Ministry of Corporate Affairs ("Regiona| Oirector™) vide order dated December 6, 2024 had approved the Scheme The effect of the scheme had been taken during the quarter ended December 31, 2024. Consequently, AGPL stands amalgamated with ACIL and ACPL ceases to exist as a separate entity. Post amalgamation, the name of Transferee Company had been changed from 'Advaya Chemical Industries Limited' to 'Aauapharm Chemical Limited .

The aforesaid amalgamation had been accounted under 'the pooling of interests method' as per Appendix C of Ind AS 103 "Business Combination s".

Pursuant to aforesaid amalgamation of AC PL into ACIL and consequent change in tax base of the assets, deferred tax liability of Rs,

554.20 crores had been reversed through statement of Profit & Loss.

ACIL had further performed impairment assessment of goodwill arlsen on acquisition of AC PL and had accounted for imoairment loss of Rs 554.72 crores based on valuation done by external valuer. The impalrment assessment was triggered by aforesaid reversal of deferred tax Ilability and consequent increase in carrying amount of Cash Generating Unit, on account of amalgamation.

The aforesaid rev ersal of deferred tax liabilities and impairment of goodwill had been recognised as Exceptional items in above financial results during the year ended March 31, 2025.

Durlng the quarter ended June s0,2025, Nanovace Technologies Limited (Subsidiary at parent Gompany) nas incorporates a wholly owned subsidiary, Nanovace Inc. in the state of Delaware, USA.

During the quarter ended June 30, 2025,the Parent Company has issued 2.000 units of Commercial Paper of face value of Rs 5,00,000/- each aggregating to Rs 100 Crores, listed on BSE Limited pursuant to SEBI Masler Circular No SEBI/HO/DDHS/PoD1/P/CIR/2024/54 dated May 22, 2024.

The figures of the quarter ended March 31, 2025 are the balancing figures between audited figures in respect of full financial year upto March 31, 2025 and the unaudited published year-to-date figures uoto Decemoer 31, 2024 being the date of the end of the third quarter of previous financial year, which were subject to limited review.

The above unaudited consolidated financial results of the Company for the quarter ended June 30, 2025 have oeen reviewed by the Audlt C ommiftee and thereafter approved by the Board of Directors at their respective meetings held on July 23, 2025. These unaudited consolidated financial results have been subjected to limited review by the statutory auditors of the Group in accordance with Regulation 33 and 52 of the SEBI (Listing Obligation and Disclosure Reauirements) Regulations 2015 ("the Regulations") who have issued an unmodified conclusion on these unaudited Consolidated financial results.

By Or of the Bpa

RP S njiv Goenka

Kol kata

July 23, 2025

Roy Managing Director DIN: 06513489

KOLKATA