Calcom Vision Ltd. — AGM Information 2025

Sep 30, 2025

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30.09.2025

To

The Department of Corporate Services/Listing BSE Limited P.J. Towers, Dalal Street, Fort Mumbai - 400001

(Scrip Code: 517236)

Dear Sir(s)/Madam(s)

Sub: Chairman’s speech delivered at the 40[th] Annual General Meeting (‘AGM’) of the Company

Please find enclosed herewith the Chairman’s speech, delivered at the 40[th] Annual General Meeting of the company held on September 30, 2025 through Video Conferencing.

This is for your information and records.

Thanking you,

Yours Truly

For Calcom Vision Limited

Rakhi Digitally signed by Rakhi Sharma Sharma Date: 2025.09.30 18:31:16 +05'30'18:31:16 +05'30'

Sharma Date: 2025.09.30 18:31:16 +05'30'18:31:16 +05'30' Rakhi Sharma Company Secretary & Compliance Officer M. No. A72812

Encl.: A/a

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Chairman’s Speech

40[th] Annual General Meeting On 30[th] September, 2025

CALCOM VISION LIMITED

Dear Shareholders,

It gives me great pleasure to welcome you all to the 40th Annual General Meeting of Calcom Vision Limited, a significant milestone that marks four decades of resilience, growth, and shared success.

Firstly, I would like to sincerely thank to all our Board of Directors for their guidance and support. Their strategic insight has been instrumental for the growth of the company, and we are quite thankful for their immense support.

On this forum, I would like to introduce our CEO, Mr. Debasish Mukherjee. He has served as our Chief Operating Officer for the past one year and has been an integral part of our journey with significant contributions to our growth. We are confident that under his leadership in this new role, our company will reach even greater heights. I wish him success in steering our company forward.

To all the shareholders, your continued confidence has been the cornerstone of our progress, and we are deeply grateful for the partnership we’ve built over these many years. As we stand at this pivotal moment, we look ahead with renewed commitment to delivering sustainable value and driving forward into the next chapter.

The Annual Report for the FY25 containing the notice for this 40th AGM, the Director’s Report, and the Audited Financial Statements of your Company for the year ended 31st March 2025 has been circulated to you. With your kind permission, I propose that the same be taken as read.

Moving forward, I would now like to take this opportunity to present briefly the industry outlook, an overview of your Company’s performance for FY25 and share key developments during the year.

The Industry Outlook

The LED lighting industry in India is on a strong growth trajectory, driven by rising demand for energy efficiency, sustainability, and smart infrastructure. The Indian LED market is projected to nearly double over the next decade, with industrial lighting as a key growth segment. Government initiatives such as UJALA and smart city programs continue to accelerate adoption. Rapid industrialization, expansion of manufacturing hubs, and ESG commitments by corporates are further fuelling this demand. Declining component costs and the integration of IoT-based smart controls are transforming industrial lighting into a high-value solution. While challenges remain in terms of upfront costs and ensuring product quality, the long-term outlook is robust. This growth presents tremendous opportunities for companies like ours to strengthen market presence and contribute to India’s sustainable future. Government initiatives, particularly the PLI scheme—under which we’ve raised our investment from INR 10 Crores to INR 25 Crores—have been instrumental in driving this growth.

Company Overview & Key Developments:

Company Overview

Your Company is a domestic Original Design Manufacturer (ODM) and Electronics Manufacturing Services (EMS) provider, focused on strengthening its market position by deepening customer relationships and broadening its product portfolio — positioning us to capture greater market share in the coming years.

The financial year 2024–25 marked a strategic phase of scale and expansion for your Company. We broadened our product portfolio, ramped up manufacturing capacities, strengthened our leadership and talent base, and continued to build a strong and diversified customer base.

Key Initiatives & Developments

Your Company undertook several key initiatives during the year.

1. Expanding Product Portfolio: We expanded our product portfolio with high-value lighting solutions including streetlights, well glass fittings, high bay lights, and linear suspended luminaires - addressing the growing demand for industrial and infrastructure-grade lighting. We also forayed into new segments such as solar lighting, opening opportunities in sustainable and off-grid applications.

2. Scaling up manufacturing infrastructure: To support scaling operations and drive future growth with improved operational efficiency, we made significant investments in expanding our manufacturing infrastructure.

• Your Company expanded its manufacturing area by 50%, adding significant production area to accommodate new equipment and support higher production volumes. This includes high-speed and multi-chip Surface Mount Technology (SMT) lines, as well as a plastic extrusion facility housing 10 extruders, further strengthening our vertical integration. These additions have provided better control over quality, improved cost efficiencies, and increased production capacity. We also introduced automation in the assembly of low-wattage bulbs, resulting in enhanced productivity and cost optimization.

3. Building on a strong customer base: On the sales front, our customer base continues to grow through collaborations with reputed brands such as RR Kabel, Eveready, and Polycab, among others. At the same time, we are deepening engagement with existing customers by introducing them to our latest product offerings, thereby expanding the scope of business within established relationships.

4. PLI update: Talking about other long-term initiatives, we also strengthened our growth trajectory by upgrading our Production-Linked Incentive (PLI) scheme target from ₹10 crore to ₹25 crore. This step reflects our growing confidence in scaling key product segments and unlocking additional value through government-supported initiatives. Till date, we have received PLI benefits amounting to ₹2.16 crore, with a further ₹13.8 crore expected to be received in next 3 years.

With business momentum steadily building, we are committed to achieving our objective of surpassing ₹250 crores in annual revenue in FY26.

Financial Results and future potential

We have embraced change, invested in technology, and sharpened our competitiveness. I am pleased to share that the Company is now firmly on a growth path, along with a clear and sustained recovery in profitability. While revenue has grown threefold since FY21 and our gross block has expanded fivefold, the revenue generated per unit of gross block still has room for improvement. This indicates significant potential to enhance asset utilization, which we believe will drive further growth and profitability.

I would like to express my sincere gratitude to every employee and stakeholder whose dedication, hard work, and commitment have been instrumental in bringing the Company to this promising stage of growth and opportunity, and for this, I am truly thankful to each one of you.

These measures mark a clear shift from recovery to sustained growth — backed by disciplined execution, a culture of innovation, and a firm commitment to creating long-term value.

Our Strategy

Expansion:

As I mentioned earlier, we have made significant strides in expanding our manufacturing space. We have enough room to further scale our operations, all under one roof which will allow us to cater to customised requirements of new clients.

Enhancing global competitiveness:

With a vision to establish ourselves as a trusted global electronics brand, we launched our export-focused subsidiary, Calcom Astra Private Limited, in January 2025, a strategic step toward scaling our presence in high-potential markets like the US and Europe. We aim to expand our international reach by diversifying revenue streams across a broader global clientele.

New Products:

Our product portfolio continues to evolve across both emerging and established segments.

1. Under Flagship LED lighting business – We have extended our offering with high-value products like Street Lights, Flood Lights, Well Glass, Bulkheads, High Bay Lights and Linear Suspended Office Lighting

2. Our team is working on new products on both ODM and EMS segment. On EMS side, we have available manufacturing infrastructure to cater new projects.

Emerging solar lighting business - developed a range of products including All-in-One Solar Street Lights and Semi Integrated Solar Lights with strong customer interest signalling significant growth potential.

Looking ahead, we are venturing further into high-value products while expanding our massconsumption strategy to include Outdoor Lighting. To support this dual focus, we plan to establish facilities for pressure die casting and powder coating, enhancing our product quality and manufacturing capabilities for sustained growth.

Expanding Team:

We continued to invest in talent to support our growth trajectory. Strategically enhanced our leadership and talent base by bringing on board senior professionals, expanding our R&D engineering team, and reinforcing our marketing function in addition to key leadership transition.

As we enter the next chapter, I’m inspired by the opportunities ahead and our team’s capability to execute. With innovation at our core and a firm focus on excellence, Calcom is ready to embrace new opportunities.

Thank you for standing with us as we drive Calcom’s success forward.

Thank you very much.

S K Malik

Chairman & Managing Director

30[th] September, 2025