Financial Results for the quarter ended June 30, 2026

CNGSN & ASSOCIATES LLP CHARTERED ACCOUNTANTS Anand Seethakathi Business Centre, r dF loor, No. 684-690 Anna Salai, Thousand Lights, Chennai -600 006. India. Tel : +91-44 -45541480 / 81 / 82 Web : www.cngsn.com ; Email : info@cngsn.com Independent Auditor's Review Report on Standalone Quarterly Unaudited Financial Results of the Company Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended The Board of Directors of TULSYAN NEC LIMITED 1. We have reviewed the accompanying statement of standalone unaudited financial results ("the Statement") of TULSYAN NEC LIMITED ("the Company") for the quarter ended 30th June 2026, and the year to date results for the period 1st April 2026 to 30th June 2026, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI circular Cl R/CFD/CMD1 /44/2019 dated 29th March 2019 ("the Circular"). 2. The Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under Section 133 of the Companies Act, 2013 ('the Act'), read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement 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. 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 the Standards on Auditing specified under Section 143(10) of the Act, 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. CNGSN & Associates LLP, a Limited Liability Partnership with LLP Identity No.AAC-9402 BRANCH OFFICES AT: CHENNAl I VELLORE I BANGALORE I HYDERABAD I BHUBANESWAR I VISAKHAPATNAM CNGSN & ASSOCIATES LLP Contd. .............. . CHARTERED ACCOUNTANTS 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, the SEBI Circulars, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. Emphasis of Matter: We draw reference to Note 3 to the Standalone Financial Results which states that there has been a revision in the terms of the Non-Convertible Debentures which states an agreed Moratorium for the Coupon payments on from 1st April 2026 till 31st August 2026 which shall be compensated by ramped-up coupon amounts subsequently monthly and final redemption date has been revised to 30th September 2027. Also, Entire Principal amount along-with Coupon and Redemption Premium to meet agreed Total IRR and outstanding Default/Penal Interest including other costs, charges, expenses, etc. as per the debenture trust deed are proposed to be paid at the Final Redemption Date. We draw reference to Note 6 to the Standalone Financial Results which states that the Powerplant was under shutdown during the quarter ended 30th June, 2026. Our conclusion is not modified in respect of the above matter. For M/s CNGSN & ASSOCIATES LLP CHARTERED ACCOUNTANTS Firm Registration No: 004915S/S200036 Place: Chennai Digitally signed by Date: 10-08-2026 5R IV AT SAN ~:~~;~~~os.,o n,,s,s, +05'30' E.K.Srivatsan Partner Membership No.: 225064 UDIN: 26225064OPPWMY9909 Tulsyan NEC Limited Regd. Office: I Floor Apex Plaza, 3 Nungambakkam High Road, Chennai -600034 Ph. 044-6199 1060 Fax: 044-6199 1066 Email id: investor@tulsyannec.in Website: www.tulsyannec.in CIN: L28920TN1947PLC007437 Un-Audited Standalone Financial Results for the Quarter ended 30th Jun 2026 (Rs. In Lakhs) Quarter ended Year to Date Previous Year Ended SI Particulars No 30-Jun-26 30-Jun-25 30-Jun-26 31-Mar-26 (Un-Audited) (Un-Audited) (Un-Audited) Audited 1 Income from Operations (a) Net Sales/ Income from operations 13,943.46 23,295.70 13,943.46 72,881.47 (b) Other Income (Net) 6.82 13.45 6.82 3,128.38 Total Income 13,950.28 23,309.15 13,950.28 76,009.85 2 Expenses (a) Cost of materials consumed 13,054.87 18,015.08 13,054.87 57,330.32 (b) Purchase of stock-in-trade -Traded goods 795.52 909.30 (c) Increase/Decrease in stock in trade (1,559.98) (405.41) (1,559.98) 698.71 (d) Employee benefit expenses 545.88 529.54 545.88 2,287.40 (D Power & Fuel 1,755.51 1,952.26 1,755.51 7,182.48 (g) Finance ccsts 1,969.87 1,649.54 1,969.87 7,092.58 (h) Depreciation and amortization expense 543.94 559.17 543.94 2,169.53 (i) Other expenses 725.14 1,313.80 725.14 4,783.52 Total Expenses 17,035.24 24,409.50 17,035.24 82,453.84 3 Profit before exceptional items and tax (1-2) (3,084.96) (1,100.35) (3,084.96) (6,443.99) 4 Exceptional items 5 Profit before tax (3-4) (3,084.96) (1,100.35) (3,084.96) (6,443.99) Tax expense Current Tax Deferred Tax Income tax Earlier Years 6 Total Tax Expenses 7 Net profit for the period (5-6) (3,084.96) (1,100.35) (3,084.96) (6,443.99) 8 Other comprehensive income , net of income tax 3.68 9 Total comprehensive income for the period (7+8) (3,084.96) (1,100.35) (3,084.96) (6,440.32) 1O f'aid-up equity share capital 1,646.14 1,646.14 1,646.14 1,646.14 Face value per share (Rs) 1000 1000 1000 1000 11 Earning per share (Rs) (not annualised) -Basic (18.74) (6.68) (18.74) (39.15) -Diluted (18.74) (6.58) (18.74) (39.15) Notes: The above results have been reviewed and recommended by the Audit committee to the Board and has been approved by the Board of Directors at its meeting held on 10th Aug 2026 The statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of the companies Act, 2013 and other recognised accounting practices and policies to the extent applicable from beginning April 1, 2017. There has been a revision in the terms at the Non-Convertible Debentures which states an agreed Morotorium for the Coupon payments on from 1st April 2026 till 31st August 2026 which shall be compensated by ramped-up coupon amounts subsequently monthly and final redemption date has been revised to 30th September 2027. Also, Entire Principal amount along-with Coupon and Redemption Premium to meet agreed Total IHR and outstanding Default/Penal Interest including other costs, charges, expenses, etc. as per the debenture trust deed are proposed to be paid at the Final Redemption Date. The Company entered into a fuel supply agreement dated 12 May 2026 with Mahanadi Coalfields Limited, a subsidiary of Coal India Limited, for the purchase and supply of coal for power generation purposes. The arrangement is expected to ensure a stable supply of coal in the upcoming years at a comparatively lower cost than the imported coal procured by the Company in earlier years. The Company has organised the business into three segments viz. Steel Division, Synthetic Division, Power. This reporting complies with the Ind AS segment [Showing first 8,000 characters — download PDF for full document]