Deep Polymers Ltd

Standalone financials

• Standalone revenue from operations: 3,007.98 lakh for quarter ended 30 Jun 2026.
• Total income: 3,113.70 lakh.
• Total expenses: 2,859.05 lakh.
• Profit before tax: 254.65 lakh.
• Tax expense: current 108.09; deferred 44.37.
• Profit after tax: 190.93 lakh.
• EPS (basic/diluted): 0.79.
• Standalone segment revenue: Rakanpur 2,367.59; Santej 359.34; Hajipur 386.77.

Audit qualifications – standalone

• Board approved Q1 2026 unaudited results; audit reports include qualifications.
• Standalone audit opinion: qualified due to trade receivables and FX restatement.
• Standalone trade receivables: 308.06 lakh; no provision for doubtful debts: 158.06.
• FX restatement not done per Ind AS 21.

Audit qualification impact – standalone

• Standalone adjusted PAT: 32.87; adjusted EPS: 0.14.
• Balance sheet impact: assets 14,531.25; net worth 10,527.42.
• Auditors: S. N. Shah & Associates; qualification issued for 5th time.
• Date/place: 12 Aug 2026, Ahmedabad.

Consolidated results & impact

• Consolidated turnover: 3,115.18 lakh; total income: 3,115.18.
• Consolidated PBT: 256.13; tax: current 108.09; deferred 44.37.
• Consolidated PAT: 192.42 lakh; EPS: 0.80.
• Consolidated assets: 14,690.79; liabilities: 4,003.84; net worth: 10,686.95.
• Consolidated adjusted PAT: 34.36; adjusted EPS: 0.14.

Meeting Details

• Date: 12 August 2026
• Time: Not disclosed
• Location: Not disclosed

Key Agenda Items

• Unaudited standalone and consolidated financial results for the quarter ended 30 June 2026
• Report of the Statutory Auditors thereon
• Any other business with the permission of the Chair

Other Notes

• Trading window closure period not specified

Financial Performance

• Board approved standalone unaudited financial results for Q3 and nine months ended 31 Dec 2025.
• Total income for nine months ended 31 Dec 2025 was Rs. 7,451.06 lakhs; profit after tax Rs. 401.88 lakhs.
• Earnings per share (basic and diluted) for nine months stood at Rs. 1.66.

Auditor Qualifications and Adjusted Financials ️

• Auditors issued a limited review report with a qualified opinion due to doubtful trade receivables and foreign currency restatement.
• Trade receivables of Rs. 166.72 lakhs not provided for, causing overstatement of profit and receivables.
• Foreign currency monetary items were not restated as per Ind-AS 21, causing potential misstatement.
• Adjusted net loss after tax would be Rs. 83.63 lakhs versus reported profit of Rs. 83.09 lakhs.
• Adjusted net worth would reduce to Rs. 8,986.94 lakhs from Rs. 9,153.66 lakhs.
• Adjusted total assets and liabilities would reduce to Rs. 13,389.92 lakhs from Rs. 13,556.64 lakhs.

Segment Reporting

• Segment revenues for nine months: Rakanpur Rs. 5,600.89 lakhs, Santej Rs. 1,017.10 lakhs, Hajipur Rs. 833.07 lakhs.
• Segment profit before finance cost and tax: Rakanpur Rs. 653.13 lakhs, Santej Rs. 333.82 lakhs, Hajipur loss Rs. 187.46 lakhs.

Other Disclosures

• Management pursuing legal recovery of doubtful trade receivables; may consider provisions if recovery fails.
• Management plans to comply with Ind-AS 21 for foreign currency restatement in the coming year.

Financial Performance 📊

• Q3 revenue from operations declined 6.5% YoY to Rs 2,101.91 lakhs; 9M revenue down 4% YoY to Rs 7,216.93 lakhs.
• Q3 total income was Rs 2,170.41 lakhs, down 6.8% YoY; 9M total income at Rs 7,451.06 lakhs, down 3.7% YoY.
• Q3 EBITDA was Rs 186.54 lakhs, down 8.9% YoY; 9M EBITDA rose 8% YoY to Rs 799.49 lakhs.
• Q3 profit before tax declined 48% YoY to Rs 97.37 lakhs; 9M PBT down 23% YoY to Rs 526.59 lakhs.
• Q3 profit after tax fell 40% YoY to Rs 83.09 lakhs; 9M PAT declined 16% YoY to Rs 401.88 lakhs.
• Q3 basic and diluted EPS stood at Rs 0.34, down from Rs 0.57 YoY; 9M EPS at Rs 1.66 vs Rs 1.98 YoY.

Cost and Expenses

• Q3 cost of materials consumed rose 2.5% YoY to Rs 1,636.12 lakhs; 9M cost decreased 4% YoY to Rs 5,204.41 lakhs.
• Q3 employee benefit expenses increased 3% YoY to Rs 181.17 lakhs; 9M expenses rose 4.7% YoY to Rs 487.49 lakhs.
• Q3 finance cost surged to Rs 50.22 lakhs from Rs 16.79 lakhs YoY; 9M finance cost increased to Rs 144.65 lakhs from Rs 54.35 lakhs.

Segment Performance 📦

• Q3 segment revenue: Rakanpur Rs 1,635.67 lakhs, Santej Rs 219.68 lakhs, Hajipur Rs 315.06 lakhs.
• Q3 segment EBITDA: Rakanpur Rs 136.78 lakhs, Santej Rs 96.09 lakhs, Hajipur loss of Rs 46.33 lakhs.

Balance Sheet & Assets 🧱

• Total assets stood at Rs 13,556.64 lakhs; net worth at Rs 9,153.66 lakhs as of Dec 31, 2025.

Risks & Audit ⚠️

• Auditor issued qualified opinion due to non-provision of Rs 166.72 lakhs doubtful trade receivables.
• Foreign currency monetary items not restated per Ind-AS 21, causing misstatement in profits and balances.
• Management expects recovery of doubtful debts but may provision/write-off if recovery fails.
• Management did not restate foreign currency items citing immaterial impact; plans compliance next year.

Business Model

• Deep Polymers Limited operates polymer manufacturing with key segments Rakanpur, Santej, Hajipur.

🗓️ Meeting Details

• Board meeting scheduled for 5 February 2026.

📊 Financial Results

• Approval of unaudited standalone and consolidated financial results for Q3 and nine months ended 31 December 2025.
• Consideration of Limited Review Report by Statutory Auditors on the financial results.