Outcome of Board Meeting

ISHAN DYES & CHEMICALS LTD. October 26, 2026 .To To The Department of Corporate Services National Stock Exchange oflndia Limited BSE Limited Exchange Plaza, C-l, Block G, Phiroze Jeejeebhoy Tower Bandra Kurla Complex, Bandra (El, Dalal Street, Mumbal-400001 Mumbai-400051 SCRIP CODE: 531109 SYMBOL: ISHANCH Sub: OUTCOME OF BOARD MEETING AND SURMISSION OF UN-AUDITED STANDALONE FINANCIAL RESULTS OF THE COMPANY FOR THE OUARTER AND THE HALF YEAR ENDED 30TH SEPTEMBER 2026. In continuation of our letter dated 19,h October 2026 and Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations. 2015 as amended from time to time, we would like to inform you that the Board of Directors of the Company at their meeting held today i.e. Monday, 26th October 2026, have inter alia considered and approved the following matters: 1. Financial Results: Approved the Un-Audited Standalone Financial Results of the Company for the Quarter and the Half Year ended 30th September 2026 along with the Limited Review Report issued by the Statutory Auditors Mjs A R Sulakhe & Co, Chartered Accountants (FRN: 110540W) which have been duly reviewed and recommended by the Audit Committee. In this regard, we are enclOSing herewith: (a) Limited Review Report on Un-Audited Standalone Financial Results for the Quarter and the Half Year ended 30'h September 2026 issued by the Statutory Auditors. Mjs A R Sulakhe & Co, Chartered Accountants (FRN: 110540W). (b) A copy of Un-Audited Standalone Financial Results of the Company for the Quarter and the Half Year ended 30'h September 2026. The Results will be available on the website of the Stock Exchanges and on the Website of the Company at www ishandyes COID. The Board meeting commenced at 05:30 PM 1ST and concluded at 06:30 PM 1ST. Kindly take the same on your record. Thank you, For and on behalf of ISHAN DYES AND CHEMICALS LIMITED Whole-Time Director DIN - 02992519 Enclosed: Aja Rcg.iJtc,.-cd Otnce and F.c.I(~ry ddrcu: lit. C~I ... O• • £~tlll~~ j"lllIllot.. .. J. Vllh'u.Ahmt:-dlibid -381 ","S. Gujl.lnt.lndi. PbOl'lf : .... ql· 79-~5832 14. ... 2~893607 F'fU.! +-Q1·7~2S83J6-t3 t>m:lil : l'hDudy~~ yahoo.rom; b:h:an{u Ishand~ ""cum 'Veb : "",",'. . ,bhjlld) c.~.mm lJ: "J '. r.r( '1"7~r,ft) CIN : U~IIOCJ1'19JrLCU2U737 I)·u N-S Numtk'r Cartiflcate Number" 7086 6.~oo4).a~'1 11\09001. ISO "001 Branch Office: 601, 6th Floor, Lilamani Corporate Heights, New Ashram Road, Opp. Ramapir Na Tekra BRTS Bus Stop, Nava Vadaj, Ahmedabad-380013 Mobile: +91-99251- 47466/99255-47466, email : arsulakhe84@gmail.com CHARTERED Head office : Pune Branch Office :Mumbai | Nashik | ACCOUNTANT Bengaluru | Kolhapur |Ahmednagar| Hydrabad Standalone Financial Results of the Company Pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors of Ishan Dyes & Chemicals Limited We have reviewed the accompanying statement of Standalone Un-Audited financial results of M/s Ishan Dyes & Chemicals Limited ('the Company') for the quarter and half year ended on September 30, 2026 attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure This Statement is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principals laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind-AS 34") prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on this Statement based on our review. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Space is intentionally left blank Basis for Qualified Conclusion We draw attention to the fact that the Company has valued certain inventories (Finished Goods) held against specific customer contracts above their cost. As per Ind AS 2 Inventories, inventories are required to be measured at the lower of cost and Net Realizable Value. The carrying of these inventories above cost is not in conformity with Ind AS 2. This matter was also the subject of a qualification in our audit report on the Standalone financial statements for the year ended March 31, 2026, and in our limited review report for the quarter ended June 30, 2026, and the Company has not corrected the valuation in its books. The overstatement of Rs. 284.78 Lakhs as at March 31, 2026 is still uncorrected and remains in the opening balances. During the period, the Company continued to value such inventories on the same basis. As a result, the overstatement of inventories as at September 30, 2026 has increased to Rs. 899.59 Lakhs. Had the said inventories been measured in accordance with Ind AS 2, the value of inventories (Finished Goods) as at September 30, 2026 would have been lower by Rs. 899.59 Lakhs. The profit before tax for the quarter and half year ended September 30, 2026 would have been lower by Rs. 614.81 Lakhs. Total equity as at September 30, 2026 would have been lower by Rs. 899.59 Lakhs, before considering the consequential tax effect. Qualified Conclusion Based on our review conducted as above, except for the effects of the matter described in the Basis for Qualified Conclusion paragraph above, nothing has come to our attention that causes us to believe that the accompanying Statement of Unaudited Standalone Financial Results, prepared in accordance with the recognized and measurement principles laid down in the applicable Indian Accounting Standards ('IND AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Our conclusion is modified in respect of the matter described in the Basis for Qualified Conclusion paragraph above. Date: 26-10-2026 For, A.R. Sulakhe & Co Place: Ahmedabad Chartered Accountants UDIN: 26178761JVFDJS5536 CA Jyoti Jain Partner M. No: 178761 FRN. 110540W Ishan Dyes and Chemicals limited Reg. Off: Plot No. 18. GIDe Estate. Phase I. Valva. Ahmedabad -382445. Gujarat INDIA *' Tel.: 079-25832144/25893607. Fox: 079-25833643 E-mail: Ishandyes@yahoo.com. Website: www.lshandyes.com CIN: L24110GJ1993PLC020737 STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FO! THE QUARTER AND HALf YEAR ENDED 30TH SEPTEM8ER. 2026 All amount In Rs. Lalchs unless othelW/se stated Quarter ended HaH Year Ended Year Ended ..... No. Parltculars 30-09-20261 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 Un-Audltedl Un-Audited Un-Audited Un-Audited Un-Audited Audited) 1 Revenue from oDeraHons 1 110) Net sales/income from operations (Net of Taxes) 2037.09 4148.04 674.12 6185.13 2302.95 7347.13 I (bl Other Income 51.6,6 136.38 [Showing first 8,000 characters — download PDF for full document]