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Industries LimitedMain BoardEquity2025-04-012026-03-312026-02-112026-02-04INRCroresQuarterlyThird quarterMulti segment2026-02-1115:30:002026-02-1116:45:00Declaration of unmodified opinion2025-10-012025-12-31UnauditedConsolidated50511900000646400000056975900000687815000001750900000-395172000004623300000626070000012610000009432100000525923000004383600000-63770000037459000001023400000309800000133320000002412700000000111410000035268000004240000003950800000204550000014813000002478800000147200000033680000016.076.08006.076.080.0220.01620.02091. The above Statement of unaudited financial results which are published in accordance with Regulation 33 and 52 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended, have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on February 11, 2026. The financial results are in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under section 133 of the Companies Act, 2013 read with the relevant rules thereunder. The above results have been reviewed by the Statutory Auditors of the Company who have expressed an unmodified review conclusion vide their review reports thereon. <BR> <BR> 2.During the nine months ended December 31, 2025, the Company has issued 52,753 equity shares of Re. 1 each to eligible employees of the Company against the exercise of options given under Employees Stock Grant Scheme for an aggregate value of Rs. 0.0053 crore. <BR> <BR> 3.During the nine months ended December 31, 2025, under the Employee Stock Grant Scheme, the Company has granted 36,544 stock grants to eligible employees of the Company. Upon vesting, as per the Scheme, equivalent number of equity shares of nominal value of Re. 1 each in the Company shall be issued to the eligible employees on exercising their grants. <BR> <BR> 4.On November 21, 2025 the Government of India notified four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 , and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws.The corresponding detailed Rules are yet to be notified. The Company/Group has assessed and disclosed the incremental impact of these changes basis actuarial valuation and management estimates and have accounted an additional gratuity and leave benefits liability of Rs. 63.77 crore and Rs. 8.21 crore in the Consolidated and Standalone Financial results respectively for the quarter and nine months ended December 31, 2025, as an Exceptional item. The Company will monitor the developments and update the estimates when further clarifications/ Rules are notified. <BR> <BR> 5.The Company has, on January 5, 2026, incorporated a wholly owned subsidiary under the name Godrej Investment Limited, with an investment of Rs. 3,862.70 crores. Subsequently, on January 28, 2026, the Company effected the divestment and transfer of its entire equity holding in Godrej Capital Limited, a subsidiary, to Godrej Investment Limited at a consideration of Rs. 3,862.69 crore. Pursuant to the aforesaid transaction, and with effect from January 28, 2026, Godrej Capital Limited has ceased to be a direct subsidiary of the Company and has become a step-down subsidiary through its holding under Godrej Investment Limited. This transaction is classified as a non-adjusting event in accordance with Ind AS 10 – Events after the Reporting Period, and does not have any impact on the financial results of the quarter and nine months ended December 31, 2025. <BR> <BR> 6.Pursuant to the share purchase agreement with the Promoter Group of Creamline Dairy Products Limited, Godrej Agrovet Limited a subsidiary company has acquired the balance equity stake of 36.79% during the quarter ended June 30, 2025 for Rs. 708.58 crore in Creamline Dairy Products Limited. During the quarter ended September 30, 2025, Godrej Agrovet Limited further acquired 0.46% equity stake for Rs. 8.93 crore thereby increasing the equity stake to 99.78% in Creamline Dairy Products Limited. As at December 31, 2025 Godrej Agrovet Limited is in the process of acquiring the balance 0.22% equity stake. Accordingly, Profit attributable to Non-controlling interest are not comparable to that extent. <BR> <BR> 7.During the quarter ended December 31, 2025, the Group has acquired control of one of its joint ventures. Consequently, fair value gain/loss upon remeasurement of Group's existing investments have been recorded under the head other income. <BR> <BR> 8.The Board of Directors of Astec LifeSciences Limited (Subsidiary Company of Godrej Agrovet Limited) at its meeting held on June 30, 2025, has inter-alia, approved the Letter of Offer and Rights Issue of 28,01,673 (Twenty Eight Lakh One Thousand Six Hundred and Seventy-Three) fully paid-up Equity Shares of face value of Rs. 10 (Ten) each, for an aggregate amount not exceeding Rs. 249.35 Crore (Rupees Two Hundred and Forty-Nine Crore and Thirty Five Lakh Only) at the issue price of Rs. 890/- (Rupees Eight Hundred and Ninety Only) per share in the Rights Entitlement ratio of 1 (One) fully paid-up rights equity share for every 7 (Seven) fully paid up equity share, of face value Rs. 10 (Ten) each, held by the eligible equity shareholders of Astec LifeSciences Limited as on Record date, July 04, 2025. The Issue opened on Monday, July 14, 2025 and closed on Monday, July 28, 2025. Other terms of the Issue were included in the Letter of Offer for the Issue. Accordingly, Godrej Agrovet Limited a subsidiary company had participated in the said Rights issue and equity shares have been allotted on July 29, 2025. Consequent to the rights issue, the shareholding % in Astec LifeSciences Limited has increased to 67.03% as at December 31, 2025. Accordingly, Profit attributable to Non-controlling interest are not comparable to that extent. <BR> <BR> 9.Pursuant to SEBI Circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021 read with Circular no. SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/0000000103 dated July 29, 2022, the Company and its subsidiary(ies) have listed Commercial Papers and listed Unsecured Non convertible debentures on concerned Stock Exchange(s). <BR> <BR> 10.Formulae used for Calculation of Key Ratios and Financial indicators: <BR> Debt Equity Ratio (Gross) = Total Debt /Equity <BR> Debt Equity Ratio (Net) = DEBT [Borrowings (excluding Lease Liabilities accounted as per Ind AS 116) - Cash and Bank Balance (includes FD) - Liquid Investments] / Equity <BR> Debt Service Coverage Ratio = EBITDA / [Interest Expense + Repayment of Long Term Borrowings during the period (netted off to the extent of Long term Loans availed during the same period for the repayments)] <BR> Interest Service Coverage Ratio = EBITDA / Interest Expense <BR> EBITDA = Net Profit/(Loss) Before Tax + Interest Expense + Depreciation and Amortisation Expenses+Loss/(Profit) (net) on sale of Property, Plant and Equipment <BR> Current Ratio = Current Assets/Current Liabilities <BR> Long term Debt to Working Capital = Non Current Borrowing / (Current assets-Current Liabilities) <BR> Bad Debts to Accounts Receivable Ratio = Bad Debts/Accounts Receivable <BR> Current Liability Ratio = Current Liabilities /Total Liabilities <BR> Total Debt to Total Assets = (Non Current Borrowing+Current Borrowing)/Total Assets <BR> Debtors Turnover = Revenue from Operations / Average Trade Receivable <BR> Inventory Turnover = (Cost of Materials Consumed + Purchases of Stock in Trade + Changes in Inventories of Finished Goods, Stock in Trade and Work in Progress) / Average Inventory <BR> Operating profit ratio = (Earnings before exceptional item, interest, taxes, depreciation, amortization expenses less Other Income/ Revenue from operations) <BR> Net Profit Margin = Profit/(Loss) for the period/ Revenue from Operations <BR> Net Worth= As defined in sub-section (57) of section 2 of the Companies Act,2013.2025-04-012025-12-31UnauditedConsolidated145431300000316312000001770625000001949244000005368500000-107239300000139722000001786220000036039000002765800000015614990000020912600000-637700000202749000002760600000420710000069677000000133072000000002402700000157099000001115300000168252000007962500000774740000090962000007729000000336800000123.6423.640023.6423.640.0220.01550.0264Other Expenses9432100000Other Expenses27658000000Chemicals10915400000Animal Feeds12983900000Veg Oils7315600000Estate and Property Development10274200000Finance and Investments8594500000Dairy3798300000Crop Protection2598800000Hospitality320200000Others2741100000Chemicals30332500000Animal Feeds36716900000Veg Oils20471900000Estate and Property Development45962100000Finance and Investments23717700000Dairy11898300000Crop Protection8752200000Hospitality856800000Others7452300000595420000001861607000002566100000909820000056975900000177062500000Chemicals839700000Animal Feeds812100000Veg Oils1289200000Estate and Property Development3203800000Finance and Investments1792200000Dairy46900000Crop Protection199500000Hospitality60700000Others128700000Chemicals2665200000Animal Feeds2182700000Veg Oils3328300000Estate and Property Development19154100000Finance and Investments3324900000Dairy180800000Crop Protection1527400000Hospitality136700000Others2218000008372800000327219000002788900000823660000012003000003572700000438360000020912600000Chemicals27920800000Animal Feeds16563300000Veg Oils9952400000Estate and Property Development780627900000Finance and Investments287838100000Dairy7785500000Crop Protection18692800000Hospitality7783000000Others6336400000116350020000063265000001169826700000Chemicals8945400000Animal Feeds9750400000Veg Oils1576200000Estate and Property Development585006900000Finance and Investments195616300000Dairy3516000000Crop Protection9123500000Hospitality7552200000Others226380000082335070000012346540000094681610000011. Notes to Consolidated Segmental Information : <BR> a. Unallocable expenditure includes general and administrative expenses and other expenses incurred on common services at the corporate level and relate to the Group as a whole. <BR> b. Others includes seeds business, poultry, cattle breeding, energy generation through windmills. <BR> c. Segment Revenue Reconciliation in terms of the measure reported to the Chief Operating Decision Maker: <BR> <BR> 12. In view of acquisitions and changes in the Company’s / Group's shareholdings during the period in some of the subsidiaries, joint ventures and associates, the consolidated results for the current period are not strictly comparable with those of the previous periods. <BR> <BR> 13.The Company is in compliance with the requirements of the Chapter XII of SEBI operational circular dated August 10, 2021 (updated as on April 13, 2022) applicable to Large Corporate Borrowers.Amount of items that will not be reclassified to profit and loss-8000000-8000000Amount of items that will not be reclassified to profit and loss-18200000-18200000-4600000-4300000Amount of items that will be reclassified to profit and loss325400000325400000Amount of items that will be reclassified to profit and loss11278000001127800000-102000000-14000004240000001115300000UnauditedtrueKalyaniwalla and Mistry LLPtrue2027-07-31