Vesuvius India Limited reported its standalone unaudited financial results for the quarter ended March 31, 2026, approved by the Board of Directors at its meeting held on May 7, 2026. The results were subjected to a limited review by statutory auditors Price Waterhouse Chartered Accountants LLP, who issued an unmodified conclusion. The financial year of the Company ends on December 31 every year, making the quarter ended March 31, 2026 the first quarter of FY27. Subsequently, the Company published newspaper advertisements of these results in Business Standard (English) and Aaj Kal (Bengali) on May 9, 2026, pursuant to Regulation 33 and 47 of the SEBI (Listing and Obligations and Disclosure Requirements) 2015.

Revenue and Income Performance

Total income from operations for the quarter ended March 31, 2026 stood at ₹49,985 lakhs, reflecting a year-on-year increase from ₹48,222 lakhs recorded in the quarter ended March 31, 2025. Gross sales and revenue from operations for the quarter came in at ₹49,859 lakhs, compared to ₹48,094 lakhs in the corresponding quarter of the prior year. Other income for the quarter was ₹915 lakhs, against ₹976 lakhs in the year-ago period, bringing total income to ₹50,900 lakhs versus ₹49,198 lakhs. On a sequential basis, total income from operations declined from ₹55,077 lakhs in the quarter ended December 31, 2025, while total income fell from ₹58,427 lakhs in the same preceding quarter.

Profitability and Earnings

The following table presents a summary of key financial metrics across comparable periods:

Not annualised for quarterly figures

Profit before tax for the quarter ended March 31, 2026 was ₹7,511 lakhs, compared to ₹7,969 lakhs in the quarter ended March 31, 2025 and ₹10,934 lakhs in the preceding quarter ended December 31, 2025. Net profit for the quarter stood at ₹5,585 lakhs against ₹5,931 lakhs in the year-ago quarter. Basic and diluted earnings per share (face value ₹10/- each) for the quarter were ₹2.75, compared to ₹2.92 in the corresponding quarter of the previous year.

EBITDA Performance

Vesuvius India's EBITDA for the quarter ended March 31, 2026 improved on a year-on-year basis, reflecting stronger operational efficiency. The following table summarises the EBITDA metrics for the comparable periods:

EBITDA rose to 914M rupees from 830M rupees in the year-ago quarter, while EBITDA margin expanded to 18.35% from 17.21% over the same period, indicating improved cost management relative to revenues.

Expense Breakdown

Total expenses for the quarter ended March 31, 2026 amounted to ₹43,389 lakhs, up from ₹41,229 lakhs in the quarter ended March 31, 2025. The key components of expenses for the quarter are detailed below:

Capital and Dividend

Paid-up equity share capital remained unchanged at ₹2,030 lakhs (face value ₹10/- per share) across all reported periods. Reserves excluding revaluation reserve, as per the balance sheet for the financial year ended December 31, 2025, stood at ₹164,359 lakhs. The Board of Directors did not declare any interim dividend on the equity shares of the Company at its meeting held on May 7, 2026.

Business Segment and Operational Notes

Vesuvius India is engaged in the manufacturing, trading, and sale of a range of refractories, with manufacturing facilities located in India. The Company operates as a single segment, as the performance is assessed by the Chief Operating Decision Maker under the manufacture and sale of refractories segment. The results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 7, 2026. The Board meeting commenced at 3:55 P.M. and concluded at 4:30 P.M. (IST).

Vesuvius India Limited convened its 35th Annual General Meeting (AGM) on Thursday, May 7, 2026, at G. D. Birla Sabhagar, Kolkata. The meeting commenced at 10:30 A.M. (IST) and concluded at 12:55 P.M. (IST), with 435 members including proxies in attendance. Subsequently, the Company filed the consolidated voting results and Scrutinizer's Report with the stock exchanges on May 8, 2026, confirming that all five resolutions were passed with the requisite majority. The Company's financial year ends on December 31 every year.

Historic Turnover Milestone and Financial Performance

Chairman Mr. Biswadip Gupta provided an overview of the Company's performance during financial year 2025, describing the year as marked by steady and disciplined progress towards sustainable growth. He highlighted that the Company achieved a historic milestone of ₹2,104 crore in turnover during the year. Despite input-cost volatility, the Company's profitability remained resilient, attributed to strong execution discipline, operational efficiency, and disciplined capital allocation.

Mr. Patrick Andre, Chief Executive of Vesuvius plc. and Non-Executive Director of the Company, also addressed shareholders, congratulating the Board and management for the strong performance delivered during 2025. He noted that despite challenging global market conditions and a decline in global steel production, India remained one of the standout markets, supported by strong growth in steel production, infrastructure investment, industrial expansion, and domestic demand. Mr. Andre reaffirmed the Vesuvius Group's confidence in the long-term prospects of Vesuvius India and its continued support through technology, expertise, and capital.

Dividend Declaration and Share Sub-Division

The Board of Directors recommended a final dividend for the financial year ended December 31, 2025. Key details of the dividend and the equity share sub-division are summarised below:

The Chairman informed members that the share sub-division had improved liquidity and broadened accessibility for retail shareholders. Shareholders were also advised to update their bank account and KYC details to enable payment of dividend through electronic mode in accordance with applicable SEBI requirements. Applicable income tax would be deducted from the dividend before payment.

Strategic Highlights and Operational Developments

The Chairman highlighted the Company's continued focus on strengthening its domestic manufacturing footprint, enhancing supply-chain resilience, and advancing localisation initiatives. Strategic capacity additions and operational improvements were noted as enabling the Company to improve reliability, scalability, and responsiveness, while leveraging global expertise to deepen technological capabilities. Innovation was emphasised as a core strategic differentiator, with increasing integration of technological capabilities to enhance customer productivity, process stability, and cost competitiveness. Mr. Andre specifically referenced the operationalisation of the new Vizag manufacturing facility and the Vesuvius Group Board's visit to India as evidence of the Group's continued commitment to the Indian market.

AGM Voting Results

The voting was facilitated through National Securities Depository Limited (NSDL), with remote e-voting open from May 3, 2026 (9:00 A.M. IST) to May 6, 2026 (5:00 P.M. IST), and e-voting at the AGM venue available for 35 minutes after the meeting's conclusion. The cut-off date for voting rights was April 30, 2026. Mr. Anjan Kumar Roy, Practicing Company Secretary (FCS: 5684, C.P. No.: 4557), proprietor of M/s. Anjan Kumar Roy & Co., was appointed as the Scrutinizer. The e-voting data was unblocked at 2:15 P.M. on May 7, 2026, in the presence of independent witnesses Sandip Paul and Sayan Bhattacharyya. The total number of shareholders on the record date was 34,613, and 81.94% of outstanding shares were polled across all resolutions. The resolution-wise summary of voting outcomes is presented below:

All five resolutions were passed with the requisite majority. No invalid votes were recorded across any resolution. The Scrutinizer confirmed that all relevant records relating to remote e-voting and e-voting during the AGM are under safe custody and will be handed over to the Chairman or the Company Secretary for preservation after the minutes of the meeting are signed. The consolidated results have been submitted to the stock exchanges in compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and are also available on the Company's website at www.vesuviusindia.in pursuant to Regulation 30(8) of SEBI LODR.