Agarwal Industrial Corporation Limited has announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results on February 14, 2026, following review by the Audit Committee, in compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Business Operations and Segments

The company operates primarily in the ancillary infrastructure industry with three main business segments:

• Manufacturing and Trading: Bitumen and allied products used in infrastructure projects
• Logistics Services: Bulk bitumen and LPG transportation through specialized tankers
• Power Generation: Wind mills for renewable energy

The company maintains manufacturing units across multiple locations including Taloja, Belgaum, Baroda, Hyderabad, Cochin (through Bituminex Cochin Private Limited), Rangia in Assam, and Pachpadra City in Rajasthan. Additionally, it operates bulk bitumen storage facilities and terminals at Baroda, Dighi, Taloja, Karwar (through Konkan Storage Systems), Mangalore, and an outsourced facility at Haldia.

Consolidated Financial Performance

The consolidated results encompass the parent company and its wholly owned subsidiaries. The segment-wise revenue breakdown shows diversified operations across different business verticals:

Subsidiary Companies

The consolidated results include four wholly owned subsidiaries:

• Bituminex Cochin Private Limited: Indian subsidiary engaged in manufacturing and trading of bitumen and bituminous products
• AICL Overseas FZ-LLC: UAE-based subsidiary involved in ship chartering with specialized bulk bitumen/liquid vessels
• Agarwal Translink Private Limited: Indian subsidiary focused on transportation of bitumen and LSHS, operating specialized bitumen tankers and a BPCL petrol pump in Maharashtra
• AICL Finance Private Limited: NBFC (Non Deposit Taking) subsidiary yet to commence operations pending regulatory approvals

Recent Corporate Development

The company announced the acquisition of 100% equity capital of Konkan Storage Systems (Karwar) Private Limited, completed post the quarter ended December 31, 2025. This acquisition makes Konkan Storage Systems a wholly owned subsidiary, though its results are not included in the current quarter's consolidated financials as the acquisition was completed after the reporting period.

Compliance and Auditing

The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015. Singhal Sanklecha & Co LLP served as the independent auditors, providing review reports for both standalone and consolidated interim financial results. The auditors confirmed that the results comply with applicable accounting standards and regulatory requirements.

Agarwal Industrial Corporation Limited has secured a prestigious tender award from Bharat Petroleum Corporation Limited (BPCL), one of India's leading public sector undertakings. The contract, valued at approximately ₹218.59 crores, involves the supply of bulk bitumen to strategic locations across the country.

Contract Details and Specifications

The tender encompasses the supply of bulk bitumen in VG-30 and VG-40 grades to two key locations. The contract specifications are structured as follows:

The total quantity of approximately 42,800 metric tonnes represents a substantial supply commitment, with the pricing based on current market rates.

Execution Timeline and Terms

The supply operations are scheduled to commence on January 23, 2026, and conclude by January 22, 2027, providing a full year execution window. The contract will be executed on a contractual basis, following domestic supply norms and regulations.

Regulatory Compliance and Disclosure

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI Listing Regulations, providing comprehensive details about the contract terms. Key regulatory aspects include:

• The contract is with a domestic entity (BPCL)
• No promoter or group company interest exists in the awarding entity
• The transaction does not fall under related party transactions
• Commercial viability has been confirmed for the contract size

Strategic Significance

This tender award underscores Agarwal Industrial Corporation's growing presence and reliability in the bitumen supply chain. The contract strengthens the company's long-standing relationship with BPCL and positions it as a key supplier in the petroleum products distribution network. The successful bid demonstrates the company's capability to handle large-scale supply operations across multiple geographic locations.

The award represents a significant business milestone, providing substantial revenue visibility for the company during the contract period. The execution will be carried out in accordance with the respective tender terms and conditions, ensuring compliance with all operational and quality standards.