Reply to Clarification- Financial results

No. S/BC/1(18-5)/2026/097 June 24, 2026 National Stock Exchange of India Limited Scrip Code: KIOCL Through: NEAPS BSE Limited Scrip Code: 540680, Scrip Name: KIOCL Through: BSE Listing Centre Metropolitan Stock Exchange of India Limited Scrip Code: KIOCL Through: mylisting Dear Sir / Madam, Sub: Outcome of Board Meeting- Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015. With reference to above, we hereby inform that the Board of Directors at its Meeting held today i.e., on May 27, 2026 has inter-alia approved: -  The Audited Financial Results along with the Auditors Report for the quarter and year ended March 31, 2026. Copy annexed.  The declaration required under Regulation 33(3)(d), confirming the unmodified opinion of the Statutory Auditors on the audited financial results, is enclosed. Furth er, Regulation 32 of SEBI (LODR) Regulations i.e., Statement of Deviations and Variations is not applicable on the Company. The Audited Financial results are also being uploaded on the Company’s website at www.kioclltd.in. The Boa rd meeting commenced at 10:30 A.M (IST) and concluded at 03:00 P.M (IST). This is for you r information and record please. Thanking You, Yours fa ithfully, s For KIOCL Limited, (Clafton Siddharth) Company Secretary & Compliance Officer e-mail: - cs@kioclltd.in Encl. as above G BALU ASSOCIATES LLP Chartered Accountants . INDIA Independent Auditor’s Report on the Quarterly and Year to date Audited Standalone Financial Results of KIOCL LIMITED Pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended). THE BOARD OF DIRECTORS OF KIOCL LIMITED Report on the Audit of Standalone Financial Results Opinion We have audited the accompanying quarterly and year to date Statement of Standalone Financial Results of KIOCL LIMITED (herein referred to as ‘the Company’) for the quarter and year ended 315t March 2026 (“Statement”), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 as amended (“Listing Regulations”). In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Statement: (i) is presented in accordance with the requirements of Regulation 33 and Regulation 52 of the Listing Regulations in this regard; and (i) give a true and fair view in conformity with the recognition and measurement principles laid down in Indian Accounting Standards (“Ind AS”) prescribed under Section 133 of the Companies Act, 2013 (the "Act") and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Company for the quarter and year then ended March 31, 2026. Basis for Opinion We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143 (10) of the Companies Act, 2013, as amended (“the Act”). Our responsibilities under those Standards are further described in the ‘Auditor's Responsibilities for the Audit of the Standalone Financial Results” section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirement that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the auditevidence obtained by us s sufficient and appropriate to provide a basis for our opinion. Head Off : Guna Complex, Annex IT Building, 4th Floor, No : 443 & 445, Anna Salai, Teynampet, Chennai 600 018, Tamilnadu, India. Ph: +91 (44) 24347565, Email : admin@gbaca.in Web: www.gbaca.in Branch Off : Bhive Premium, 8th Floor, Brigade Metropolis Summit A Block, # 73/1, Gurudacharpaiya, Mahadevapura Post, Whitefield Road, Bengaluru, Karnataka, India - 560 048 Emphasis of Matter: Attention is invited to: 1. Note No.2 of the Standalone Financial Results, in respect of the company not having Independent Directors and hence not constituting Audit Committee as required by the Company’s Act, 2013 and Listing Regulations. In the absence of the Audit Committee, the Company’s Board of Directors have reviewed and approved the audited financial results for the quarter and year ended 315t March 2026. The Company does not have a Woman Director as required by the Company’s Act, 2013 and Listing Regulations. The Company also does not have the requisite number of required Directors and also has not constituted Nomination and Remuneration committee. 2. Note No.6 of the Standalone Financial Results, in respect of Kudremukh Mining Operations which were suspended in 2006 due to the order of the Hon'ble Supreme Court and value of assets reduced to NIL. These assets together with freehold land of 114.31ha to be kept in the books of the Company. 3. Note No.7 of the Standalone Financial Results, in respect of BFU plant which is not in operation since 2009, based on the Valuation Report provided by an Independent Valuer, the company has not envisaged any impairment in the value of the assets as at the year end. Also as per Note No.7, the projects for forward and backward integration at BFU Plant kept in Capital Work in progress, for which the company has not envisaged any impairment in the value of such asset as at the year end, as the recoverable amount exceeds their carrying value. 4. Note No.8 of the Standalone Financial Results, with respect to ROU Leased Land obtained from KIADB in Mangalore/Doddaballapura, for which the company need to construct Railway siding/R&D Centre respectively, which are yet to be implemented. 5. Note No.9 of the Standalone Financial Results, regarding the capital expenditure on Mining Rights, been classified under intangible assets. This Mining Right was capitalized by the Company during 2023-24 after, satisfying the criteria set forth in the Accounting Standard Ind AS 38 (Para 21) in that the said expenditure demonstrates that the expected future economic benefits that are attributable to the asset will flow to the company and that the cost oft he asset could be measured reliably. In this connection, reference is invited to the Note No.9, wherein the matters leading to non-handover of the forest land and also not providing working permission to commence the mining activities, as stated therein, the company is yet to commence the mining activities at the aforementioned site. We draw reference to the Accounting Policies of the Company, thatintangible assets are as they are not available for use and commercial production has not commenced for the reasons stated by the company in Note No.9. Our opinion is not modified in respect of these matters. Management’s Responsibilities for the Standalone Financial Results The Statement has been prepared based on the basis of Standalone Annual Financial Statements. The Company’s Board of Directors are responsible for the preparation of the Statement that gives a true and fair view of the net profit and other comprehensive income and other financial information of the Company in accordance with the recognition and measurement principle laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provision oft he Act for safeguarding of the assets of the company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgement and e [Showing first 8,000 characters — download PDF for full document]