Skipper Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2025

1. The above standalone financial Results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 29th January, 2026. The Statutory Auditors have carried out limited review of the above financial results.
2. Pursuant to the notification issued by the Ministry of Labour and Employment, the Code on Wages, 2019, the Code on Social Security, 2020, the Industrial Relations Code, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the New Labour Codes) became effective from 21st November 2025. The Company has reassessed its employee benefit obligations in accordance with the revised definition of wages. Accordingly, an incremental liability on account of past service cost in accordance with IND AS 19 - Employee Benefits , amounting of' Rs.47.89 million has been charged to the Profit and Loss Account under the head Salary & Wages for the quarter and nine months ended 31st December, 2025. The Company continues to monitor developments relating to the implementation of the New Labour Codes and will review its estimates and assumptions on an ongoing basis.
3.The Company disputed the levy of entry tax from FY 2013-14 to 2017-18, which was also set aside by Supreme Court earlier, being unconstitutional and void. However, on 30th January, 2025, the division bench of the Hon'ble High Court of Calcutta overturned all the previous decisions. During the quarter ended Sep’25, this disputed entry tax amounting to Rs. 142.39 millions has been fully settled under the West Bengal Sales Tax (Settlement of Dispute) Rules, 1999 at Rs. 106.79 million (i.e. 75% of the total disputed amount) and received a waiver of interest, late fee and penalty. The same has been disclosed as an exceptional item for the quarter ended Sep’25 and nine month ended Dec’25.
4.During the quarter ended 31st Dec 2025, the Company has entered into certain “Commodity Hedge contracts” (derivative contracts) and designated the same under “Hedge Accounting” as required by IndAS 109 “Financial instruments”. The effective portion of changes in fair value of these derivatives amounting to Rs. 401.50 million for the quarter and Rs. 467.04 million for the nine months ended Dec’25 have been recognized in “other comprehensive income” and accumulated in “Cash Flow Hedge Reserve” within Other Equity.
5.In pursuant to its Board Meeting on October 28, 2024, the company made a first and final call to eligible equity shareholders for the Rights Issue approved during the financial year 2023-24. The Call money was fully received, except for 33,198 equity shares. The Board of Directors approved forfeiture of these shares on 7th November, 2025, and they were subsequently forfeited in the current quarter ending Dec'25.
6.Previous year/periods figures have been regrouped or rearranged, wherever necessary.