ISF LIMITED — Interim / Quarterly Report 2026

May 15, 2026

ISF LIMITED
CIN No.: L74899DL1988PLC076648
Regd. Office: Khasra No. 10/2, Samalka, New Delhi- 110037
Corporate Office: TR-205 2nd Floor, A-100, Sector-58 Noida, Uttar Pradesh- 201301
Phone: +91 9625982325
E-Mail: info@isflimited.in
Website: www.isflimited.in

Date: 15.05.2026

To,

The Secretary
Listing Department
Bombay Stock Exchange Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai-400001

Scrip Code: 526859

Subject: Outcome of Board Meeting held on 15th May, 2026

Ref: Regulations 30, 33 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/Madam,

With reference to above mentioned subject, Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that Meeting of the Board of Directors of ISF Limited held on Friday, 15th May, 2026 have considered and approved the following:

1. The Audited Financial Results of the Company as reviewed by the Audit Committee for the quarter & year ended on 31st March, 2026 along with Audit report. A copy of the said Audited financial results along with the Audit report issued by the Statutory Auditors of the Company is enclosed herewith.
2. To consider and approve the appointment of Ms. Puja Arora Mehrotra as Company Secretary and Compliance officer of the Company.
3. Resignation of Ms. Anjali Raj from the post of Company Secretary and Compliance officer of the Company.
4. To consider and approve the termination of existing Secretarial Auditor and appointment of M/S Parul Agrawal and Associates (FRN: S2019DE698200) as Secretarial Auditor of the Company for the Financial Year 2025-26.

The meeting of the Board of Directors commenced at 04:05 PM and concluded at 04:35 PM.

You are requested to take the above on records and do the needful.

This is for your information and record.

Thanking You,

For and on behalf of ISF Limited

BHUPENDRA KAUSHIK
Kaushik
Bhupendra Kaushik
Director
DIN: 07016552

• Enclosures: As annexed

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General information about company

Scrip code*		526859
NSE Symbol*		NOTLISTED
MSEI Symbol*		NOTLISTED
ISIN*		INE973B01026
Name of company		ISF LIMITED
Type of company		Main Board
Class of security		Equity
Date of start of financial year		01-04-2025
Date of end of financial year		31-03-2026
Date of board meeting when results were approved		15-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange		08-05-2026
Description of presentation currency		INR
Level of rounding		Lakhs
Reporting Type		Half Yearly
Reporting Quarter		Yearly
Nature of report standalone or consolidated		Standalone
Whether results are audited or unaudited for the quarter ended		Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended		Audited
Segment Reporting		Single segment
Description of single segment		Segment reporting as defined in IND-AS 108 is not applicable since the entire operations of the company relates to only one segment
Start date and time of board meeting		15-05-2026 16:05
End date and time of board meeting		15-05-2026 16:35
Whether cash flow statement is applicable on company		Yes
Type of cash flow statement		Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification		Declaration of unmodified opinion
Whether the company has any related party?		No
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?		No
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public		NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of bank’s staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.		No
(III) Whether the company is a ‘high value debt listed entity’ according to regulation 15 (1A)?		No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?		No
Latest Date on which RPT policy is updated
Indicate Company website link for updated RPT policy of the Company
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter?		No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No	The Company has not made any default on loans and debt securities.

---

Financial Results – NBFC
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-10-2025	01-04-2025
Date of end of reporting period		31-03-2026	31-03-2026
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations
(i)	Interest Income	42.08	169.65
(ii)	Dividend Income	0	0
(iii)	Rental Income	0	0
(iv)	Fees and commission Income	0	0
(v)	Net gain on fair value changes	0	0
(vi)	Net gain on derecognition of financial instruments under amortised cost category	0	0
(vii)	Sale of products (including Excise Duty)	0	0
(viii)	Sale of services	0	0
(ix)	Other revenue from operations
	Total other revenue from operations
	Total Revenue From Operations	42.08	169.65
	Other income	0.11	0.11
	Total income	42.19	169.76
2	Expenses
	Cost of materials consumed	0	0
	Purchases of stock-in-trade	0	0
	Changes in inventories of finished goods, work-in-progress and stock-in-trade	0	0
	Employee benefit expense	5.75	31.6
	Finance costs	5.73	25.12
	Depreciation, depletion and amortisation expense	0	0.14
	Fees and commission expense	0	0
	Net loss on fair value changes	0	0
	Net loss on derecognition of financial instruments under amortised cost category	0	0
	Impairment on financial instruments	0	0
(f)	Other expenses
1	Other	289.15	337.5
	Total other expenses	289.15	337.5
	Total expenses	300.63	394.36
3	Total profit before exceptional items and tax	-258.44	-224.6
4	Exceptional items	0	0
5	Total profit before tax	-258.44	-224.6
6	Tax expense
7	Current tax	0	0
8	Deferred tax	-70.94	-58.24
9	Total tax expenses	-70.94	-58.24

---

10	Net Profit Loss for the period from continuing operations	-187.5	-166.36
11	Profit (loss) from discontinued operations before tax	0	0
12	Tax expense of discontinued operations	0	0
13	Net profit (loss) from discontinued operation after tax	0	0
14	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
15	Total profit (loss) for period	-187.5	-166.36
16	Other comprehensive income net of taxes	0	0
17	Total Comprehensive Income for the period	-187.5	-166.36
18	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
19	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
20	Details of equity share capital
	Paid-up equity share capital	950	950
	Face value of equity share capital	1	1
21	Reserves excluding revaluation reserve		225.72
22	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings per share from continuing operations	-0.2	-0.18
	Diluted earnings per share from continuing operations	-0.2	-0.18
ii	Earnings per equity share for discontinued operations
	Basic earnings per share from discontinued operations	0	0
	Diluted earnings per share from discontinued operations	0	0
ii	Earnings per equity share (for continuing and discontinued operations)
	Basic earnings per share	-0.2	-0.18
	Diluted earnings per share	-0.2	-0.18
23	Debt equity ratio
24	Debt service coverage ratio
25	Interest service coverage ratio
26	Disclosure of notes on financial results

---

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2025
Date of end of reporting period		31-03-2026
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Financial Asset
	Cash and cash equivalents	0
	Bank Balance other than (a) above	3.5
	Derivative financial instruments	0.2
	Receivables
	(I) Trade Receivables	64.33
	(II) Other Receivables	0
	Loans	1271.86
	Investments	1.28
	Other Financial assets
1
2
3
4
5
	Details of other Financial assets
	Total other Financial assets
	Total Financial Asset	1341.17
2	Non Financial Asset
	Inventories	0
	Current tax assets (Net)	0.43
	Deferred tax Assets (Net)	76.47
	Investment Property	0
	Biological assets other than bearer plants
	Property, Plant and Equipment	0
	Capital work-in-progress
	Intangible assets under development
	Goodwill	0
	Other Intangible assets	0
	Other non-financial assets
1	Advances	5.6
2
3
4
5
	Details of other non-financial assets
	Total other non-financial assets	5.6
	Total Non-Financial Asset	82.5
	Total assets	1423.67
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent

---

	Equity share capital	950
	Other equity	225.72
	Total equity attributable to owners of parent	1175.72
	Non controlling interest
	Total equity	1175.72
2	Liabilities
2.1	Financial Liabilities
(a)	Derivative financial instruments
(b)	Payables
	(I)Trade Payables
	(i) total outstanding dues of micro enterprises and small enterprises
	(ii) total outstanding dues of creditors other than micro enterprises and small enterprises	6.69
	II) Other Payables
	(i) total outstanding dues of micro enterprises and small enterprises
	(ii) total outstanding dues of creditors other than micro enterprises and small enterprises
(C)	Debt Securities
(d)	Borrowings (Other than Debt Securities)	218.57
(e)	Deposits
(f)	Subordinated Liabilities	17.35
(g)	Other financial liabilities
1
2
3
4
5
	Details of other financial liabilities
	Total of other financial liabilities
	Total Financial Liabilities	242.61
2.2	Non-Financial Liabilities
(a)	Current tax liabilities (Net)
(b)	Provisions	5.34
(C)	Deferred tax liabilities (Net)
(d)	Other non-financial liabilities
1
2
3
4
5
	Details of other non-financial liabilities
	Total of other non-financial liabilities
	Total Non-Financial Liabilities	5.34
	Total liabilities	247.95
	Total equity and liabilities	1423.67
	Disclosure of notes on assets and liabilities

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Other Comprehensive Income
Date of start of reporting period		01-10-2025	01-04-2025
Date of end of reporting period		31-03-2026	31-03-2026
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
	Total Amount of items that will not be reclassified to profit and loss
2	Income tax relating to items that will not be reclassified to profit or loss
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss
5	Total Other comprehensive income

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Cash flow statement, indirect

Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2025
Date of end of reporting period		31-03-2026
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax	-224.6
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs	0
	Adjustments for decrease (increase) in inventories	0
	Adjustments for decrease (increase) in trade receivables, current	281.5
	Adjustments for decrease (increase) in trade receivables, non-current	0
	Adjustments for decrease (increase) in other current assets	0
	Adjustments for decrease (increase) in other non-current assets	0
	Adjustments for other financial assets, non-current	0
	Adjustments for other financial assets, current	0
	Adjustments for other bank balances	0
	Adjustments for increase (decrease) in trade payables, current	6.21
	Adjustments for increase (decrease) in trade payables, non-current	0
	Adjustments for increase (decrease) in other current liabilities	0
	Adjustments for increase (decrease) in other non-current liabilities	0
	Adjustments for depreciation and amortisation expense	0.14
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss	0
	Adjustments for provisions, current	0
	Adjustments for provisions, non-current	0
	Adjustments for other financial liabilities, current	0
	Adjustments for other financial liabilities, non-current	0
	Adjustments for unrealised foreign exchange losses gains	0
	Adjustments for dividend income	0
	Adjustments for interest income	169.65
	Adjustments for share-based payments	0
	Adjustments for fair value losses (gains)	0
	Adjustments for undistributed profits of associates	0
	Other adjustments for which cash effects are investing or financing cash flow	0
	Other adjustments to reconcile profit (loss)	0.35
	Other adjustments for non-cash items	0
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships	0
	Total adjustments for reconcile profit (loss)	118.55
	Net cash flows from (used in) operations	-106.05
	Dividends received	0
	Interest paid	-25.12
	Interest received	169.65
	Income taxes paid (refund)	-58.24
	Other inflows (outflows) of cash	0

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	Net cash flows from (used in) operating activities	146.96
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses	0
	Cash flows used in obtaining control of subsidiaries or other businesses	0
	Other cash receipts from sales of equity or debt instruments of other entities	0
	Other cash payments to acquire equity or debt instruments of other entities	0
	Other cash receipts from sales of interests in joint ventures	0
	Other cash payments to acquire interests in joint ventures	0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships	0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships	0
	Proceeds from sales of property, plant and equipment	0
	Purchase of property, plant and equipment	0
	Proceeds from sales of investment property	0
	Purchase of investment property	0
	Proceeds from sales of intangible assets	0
	Purchase of intangible assets	0
	Proceeds from sales of intangible assets under development	0
	Purchase of intangible assets under development	0
	Proceeds from sales of goodwill	0
	Purchase of goodwill	0
	Proceeds from biological assets other than bearer plants	0
	Purchase of biological assets other than bearer plants	0
	Proceeds from government grants	0
	Proceeds from sales of other long-term assets	0
	Purchase of other long-term assets	0
	Cash advances and loans made to other parties	0
	Cash receipts from repayment of advances and loans made to other parties	0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts	0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts	0
	Dividends received	0
	Interest received	0
	Income taxes paid (refund)	0
	Other inflows (outflows) of cash	0
	Net cash flows from (used in) investing activities	0
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries	0
	Payments from changes in ownership interests in subsidiaries	0
	Proceeds from issuing shares	0
	Proceeds from issuing other equity instruments	0
	Payments to acquire or redeem entity's shares	0
	Payments of other equity instruments	0
	Proceeds from exercise of stock options	0
	Proceeds from issuing debentures notes bonds etc	0
	Proceeds from borrowings	-121.78
	Repayments of borrowings	0
	Payments of lease liabilities	0
	Dividends paid	0
	Interest paid	25.12
	Income taxes paid (refund)	0
	Other inflows (outflows) of cash	0

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	Net cash flows from (used in) financing activities	-146.9
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes	0.06
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents	0
	Net increase (decrease) in cash and cash equivalents	0.06
	Cash and cash equivalents cash flow statement at beginning of period	3.64
	Cash and cash equivalents cash flow statement at end of period	3.7

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Details of Impact of Audit Qualification
Whether results are audited or unaudited		Audited
Declaration of unmodified opinion or statement on impact of audit qualification		Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results		Yes
	Audit firm's name	Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI	Certificate valid upto
1	V S S A & Associates	Yes	30-06-2026

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ISF LIMITED
CIN No.: L74899DL1988PLC076648
Regd. Office: Khasra No. 10/2, Samalka, New Delhi- 110037
Corporate Office: TR-205 2nd Floor, A-100, Sector-58 Noida, Uttar Pradesh- 201301
Phone: +91 9625982325
E-Mail: info@isflimited.in
Website: www.isflimited.in

QUARTERLY INTEGRATED FILING (FINANCIAL)

In compliance of Circular No SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated 31st December 2024, on quarterly integrated filing (Financial):

A. Financial Results: Annexed above
B. Statement on Deviation or Variation for Proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc.: Not Applicable
C. Format For Disclosing Outstanding Default on Loans and Debt Securities: Not Applicable
D. Format for Disclosure of Related Party Transactions (applicable only for half yearly Filings i.e., 2nd and 4th quarter): Not Applicable
E. Statement on impact of audit qualifications (for audit report with modified opinion) submitted along-with annual audited financial results (Standalone and consolidated separately) (applicable only for Annual Filing i.e., 4th quarter): Not Applicable

You are requested to take the above on your records and do the needful.

Yours faithfully,

For and on Behalf of ISF Limited

BHUPENDR
A KAUSHIK

Bhupendra Kaushik
Director
DIN: 07016552

Digitally signed by
BHUPENDRA KAUSHIK
Date: 2026.05.15
17:37:49 +05'30'

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ISF LIMITED

Regd. Office: Khasra No 10/2 , Samalka, New Delhi, Gurgaon Road South West Delhi, New Delhi ,Delhi INdia ,110037

Email id: info@isflimited.in, Website: www.isflimited.in

CIN: L74899DL1988PLC076648

Statement of Audited Financial Results for the Fourth Quarter and Year ended 31st March 2026
Amt. (In Lakhs)

Particulars	Quarter Ended			Year Ended	Year Ended
	31-03-2026	31-12-2025	31-03-2025	31-03-2026	31-03-2025
	(Audited)	(Reviewed)	(Audited)	(Audited)	(Audited)
I. Revenue from Operations	42.08	40.06	49.73	169.65	178.43
II. Other Income	0.11	0.00	0.01	0.11	0.40
III. Total Income (I +II)	42.19	40.06	49.74	169.76	178.83
IV. Expenses
Cost of Material Consumed	0.00	0.00	0.00	0	0
Purchases of Stock-in-trade	0.00	0.00	0.00	0	0
Changes in inventories of finished goods, Work-in-progress and stock-in-trade	0.00	0.00	0.00	0	0
Employee Benefits Expenses	5.75	7.25	8.12	31.60	34.85
Finance Costs	5.73	6.63	7.05	25.12	34.79
Depreciation and amortisation expenses	0.00	0.05	0.05	0.14	0.09
Other Expenses	289.15	8.50	8.934	337.50	109.97
Total Expenses (IV)	300.62	22.42	24.16	394.35	179.70
V. Profit/(Loss) before exceptional items and tax (III- IV)	(258.43)	17.64	25.58	(224.59)	(0.88)
VI. Exceptional items	0.00	0.00	0.00	0	0
VII. Profit/(Loss) before tax (V-VI)	(258.43)	17.64	25.58	(224.59)	(0.88)
VIII. Tax Expense
(1) Current tax	0.00	-2.73	0.00	0	0
(2) Deferred tax	-70.94	8.26	6.66	-58.24	-0.23
(3) Previous Year Tax	0.00	0.00	0.00	0.00	0.00
(4) Available Mat Tax	0.00	2.73
IX. Profit/(Loss) for the period from continuing operations (VII-VIII)	(187.49)	9.38	18.92	(166.35)	(0.65)
X. Profit/(Loss) from discontinued operations	0.00	0.00	0.00	0.00	0.00
XI. Tax expense of discontinued operations	0.00	0.00	0.00	0.00	0.00
XII. Profit/(Loss) from Discontinued operations (after tax) (X-XI)	0.00	0.00	0.00	0.00	0.00
XIII. Profit/(Loss) for the period (IX+XII)	(187.49)	9.38	18.92	(166.35)	(0.65)
XIV. Other Comprehensive Income	0.00	0.00	0.00	0.00	0.00
(A) (i) Items that will not be reclassified to profit or loss	0.00	0.00	0.00	0.00	0.00
(ii) Income tax relating to items that will not be reclassified to profit or loss	0.00	0.00	0.00	0.00	0.00
(B) (i) Items that will be classified to profit or loss	0.00	0.00	0.00	0.00	0.00
(ii) Income tax relating to items that will be reclassified to profit or loss	0.00	0.00	0.00	0.00	0.00
XV. Total Comprehensive Income for the period (XIII+XIV)	(187.49)	9.38	18.92	(166.35)	(0.65)
(Comprising Profit (Loss) and Other Comprehensive Income for the Period)
XVI. Earnings per equity share (for continuing operation):
(1) Basic	(0.1974)	0.0099	0.0199	(0.1751)	(0.0007)
(2) Diluted	(0.1974)	0.0099	0.0199	(0.1751)	(0.0007)
XVII. Earnings per equity share (for discontinued operation):
(1) Basic	0.000	0.000	0.000	0.00	0.00
(2) Diluted	0.000	0.000	0.000	0.00	0.00
XVIII. Earnings per equity share (for discontinued & continuing operations)
(1) Basic	(0.1974)	0.0099	0.0199	(0.1751)	(0.0007)
(2) Diluted	(0.1974)	0.0099	0.0199	(0.1751)	(0.0007)

Notes:

1) The financial results of the company have been prepared in accordance with Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended.
2) The above results have been reviewed by the Audit Committee were approved and taken on record by the Board of Directors at its meeting held on
3) Segment reporting as defined in IND-AS 108 is not applicable since the entire operations of the company relates to only one segment
4) Figures have been regrouped/rearranged wherever considered necessary.
5) There are no Other Comprehensive Income for the periods presented above.

For ISF Limited

BHUPENDR

A KAUSHIK

Digitally signed by

BHUPENDRA KAUSHIK

Date: 2026.05.15

17:36:39 +05'30'

Bhupendra Kaushik

Director

DIN: 07016552

Date: 15.05.2026

Place : New Delhi

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ISF LIMITED
BALANCE SHEET AS AT 31ST MARCH 2026

| Particulars | | As at
31-03-2026 | | (In Rupees Lakhs)
As at
31-03-2025 | |
| --- | --- | --- | --- | --- | --- |
| ASSETS | | | | | |
| 1 | Financial Assets | | | | |
| | (i) Cash and cash equivalents | 3.70 | | 3.64 | |
| | (ii) Loans | 1271.86 | | 1647.73 | |
| | (iii) Trade Receivables | 64.33 | | 7.01 | |
| | (iv)Other Financial Assets-Security Deposit | 1.28 | 1341.17 | 2.00 | 1660.38 |
| 2 | Non Financial Assets | | | | |
| | (i) Advances | 5.60 | | 22.58 | |
| | (ii) Current Tax Asset | 0.43 | | 3.92 | |
| | (iii) Deferred Tax Asset | 76.47 | | 18.23 | |
| | (iv) Property, Plant & Equipment | 0.00 | 82.50 | 0.49 | 45.22 |
| | Total Assets | | 1423.67 | | 1705.60 |
| | LIABILITIES AND EQUITY | | | | |
| 1 | Financial Liabilities | | | | |
| | (i) Trade payables | | | | |
| | a) Total Outstanding Dues of Micro
Enterprises and Small Enterprises | 0.00 | | 0.00 | |
| | b) Total outstanding Dues of Creditors
other than Micro Enterprises and small
Enterprises | 6.69 | | 5.15 | |
| | (ii) Borrowings | 218.57 | | 340.35 | |
| | (iii) Other financial liabilities | 17.35 | | 18.03 | |
| | | | 242.61 | | 363.53 |
| 2 | Non Financial Liabilities | | | | |
| | Provisions | | 5.34 | | 0.00 |
| 3 | EQUITY AND LIABILITIES | | | | |
| | Equity | | | | |
| | i) Equity Share Capital | 950.00 | | 950.00 | |
| | ii) Other Equity | 225.72 | 1175.72 | 392.07 | 1342.07 |
| | Total Equity and Liabilities | | 1423.67 | | 1705.60 |

For ISF Limited

BHUPENDR A KAUSHIK
Digitally signed by
BHUPENDRA KAUSHIK
Date: 2026.05.15
17:36:53 +05'30'

Bhupendra Kaushik
Director
DIN: 07016552

Date: 15.05.2026
Place : New Delhi

---

ISF LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 March 2026
(Rupees in Lakhs)

| | Year Ended
31.03.2026 | Year Ended
31.03.2025 |
| --- | --- | --- |
| A CASH FLOW FROM OPERATING ACTIVITIES | | |
| Net Profit/(Loss) before Tax Exceptional & Extraordinary items | (224.60) | (0.88) |
| Adjustments for: | - | - |
| Other Comprehensive Income | - | - |
| Depreciation | 0.14 | 0.09 |
| (Profit)/loss on sale of fixed Assets & Assets Discarded (Net) | 0.35 | - |
| Interest Paid | 25.12 | 34.79 |
| Interest received | (169.65) | (178.43) |
| Operating Profit before working capital changes | (368.63) | (144.42) |
| Adjustments for: | - | - |
| Trade and Other Receivables | 281.50 | 92.73 |
| Trade Payable and Other Liabilities | 6.21 | 10.03 |
| Interest Received | 169.65 | 178.43 |
| Cash Generated from Operations | 88.72 | 136.77 |
| Direct Taxes Paid (including deferred tax) | 58.24 | 0.23 |
| Cash Flow before extraordinary items | 146.96 | 137.00 |
| B CASH FLOW FROM INVESTING ACTIVITIES: | - | - |
| Purchase of Fixed Assets, Including capital work in progress | - | (0.58) |
| Purchase of Investments | - | - |
| Sale of Fixed Assets | - | - |
| Interest received | - | - |
| Net Cash used in Investing Activities | - | (0.58) |
| C CASH FLOW FROM FINANCING ACTIVITIES: | - | - |
| Net proceeds of Short Term Borrowings | (121.78) | (152.97) |
| Interest Paid | (25.12) | (34.79) |
| Net Cash from Financing Activities | (146.91) | (187.76) |
| Net Increase/(decrease) in Cash and Cash Equivalents (A+B+C) | 0.06 | (51.35) |
| Cash and Cash Equivalents as at 1st April, Opening Balance | 3.64 | 54.99 |
| Cash and Cash Equivalents as at 31st March, Closing Balance | 3.70 | 3.64 |
| Note: Figures in brackets represent outflow. | | |

As per our report of even date attached

For ISF Limited

BHUPENDR
A KAUSHIK

Digitally signed by BHUPENDRA KAUSHIK
Date: 2026.05.15 17:37:10 +05'30'

Bhupendra Kaushik
Director
DIN: 07016552

Date: 15.05.2026
Place : New Delhi

---

ISF LIMITED
CIN No.: L74899DL1988PLC076648
Regd. Office: Khasra No. 10/2, Samalka, New Delhi- 110037
Corporate Office: TR-205 2nd Floor, A-100, Sector-58 Noida, Uttar Pradesh- 201301
Phone: +91 9625982325
E-Mail: info@isflimited.in
Website: www.isflimited.in

Date: 15.05.2026

To,

The Manager,

BSE Limited

Phiroze Jeejeebhoy Towers,

Dalal Street, Mumbai-400001

Scrip Code: 526859

Sub: Declaration regarding Un-modified Opinion on Audit Report for the year ended on 31st March, 2026 pursuant to Regulation 33 of the SEBI Listing Regulations, 2015

Dear Sir/Madam,

Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD/56/2016 dated 27th May, 2016 we hereby declare that the Statutory Auditors of the Company i.e., VSSA & Associates, Chartered Accountants have issued the Audit Report on Standalone Audited Financial Results of the Company for the year ended on 31st March, 2026, with unmodified opinion.

You are requested to take the above on your records and do the needful.

Yours faithfully,

For and on Behalf of ISF Limited

BHUPENDR A KAUSHIK

Digitally signed by
BHUPENDRA KAUSHIK
Date: 2026.05.15
17:35:59 +05'30'

Bhupendra Kaushik
Director
DIN: 07016552

---

VSSA & Associates Chartered Accountants

C A INDIA

A-1/255, Safdarjung Enclave, New Delhi-110 029 E-mail: vssaassociates@gmail.com

INDEPENDENT AUDITOR'S REPORT ON THE FINANCIAL RESULTS

To the Board of Directors of ISF Limited

Opinion

We have audited the accompanying annual financial results of ISF LIMITED (herein referred to as the "Company") for the year ended 31st March, 2026 (annual financial results), attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "LODR Regulations").

In our opinion and to the best of our information and according to the explanations given to us, these annual financial results:

i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard, and
ii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of the net loss and other comprehensive income and other financial information for the year ended 31st March, 2026.

Basis for opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Annual Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by The Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the annual audited financial results under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

---

VSSA & Associates

Emphasis of Matters

(i) The Loan balances towards various categories of Loans given by the Company and the associated Impairment allowance are significant to the Financial Statements and involves judgement around the determination of the impairment allowance in line with the requirements of the Ind AS 109 "Financial Instruments". Impairment allowances represent management's estimate of the losses incurred/likely to be incurred within the loan portfolio at the Balance Sheet Date and are Inherently judgmental. In the absence of direct confirmations for some loan balances, we have made enquiries from the Company's personnel/Management and evaluated the reasonableness of the judgment involved in management overlays that form part of the impairment provision.

(ii) Opening Balances of Financial Statements for the year have been extracted from Previous Year Audited Financial Statements which were not adopted by the Members of the Company at the Annual General Meeting.

Our opinion on Financial Results is not modified in respect of these matters.

Management's Responsibilities for the Annual Financial Results

These annual financial results have been prepared on the basis of the annual financial statements.

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these annual financial results that give a true and fair view of the net profit and other comprehensive income and financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in accordance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgements and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

---

V S S A & Associates

In preparing the annual financial results, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these annual financial results.

As part of an audit in accordance with SAs, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

• Evaluate the appropriateness of accounting policies used and reasonableness of accounting estimates and related disclosures made by the Management and the Board of Directors.

---

V S S A & Associates

• Conclude on the appropriateness of the Management and the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the annual financial results, including the disclosures and whether the annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

The annual financial results include the results for the quarter ended 31st March, 2026 being the balancing figures between the audited figures in respect of full financial year and the published unaudited figures up to the third quarter of the current financial year which were subject to limited review by us.

For V S S A & Associates
Chartered Accountants
Firm Registration No 012421N
Samir Vaid
Digitally signed by Samir Vaid
Date: 2026.05.15 16:54:08
+05'30"

Place: New Delhi
Dated: 15.05.2026
UDIN: 26091309JTIFOQ2171

Samir Vaid
Partner
Membership No. 091309

---

CA INDIA

SAPRA SHARMA & ASSOCIATES LLP

CHARTERED ACCOUNTANTS

Registered Office: 23, Prakash Apartments, 5, Ansari Road, Darya Ganj, New Delhi - 110002
Tel.: 011-41563112/13/14, Mob.: 9810035236
E-mail: sapra_kalra@yahoo.co.uk, sapra.kalra@gmail.com

The Board of Directors
ISF Limited
Noida,
U.P-201301

Sir,

Sub: Internal Audit Report for the Quarter ended 31.03.2026

(A) We have verified the compliance regarding deposit of Statutory Dues-Tax Deducted at source and GST Returns for the above period and found the same to be in order in accordance with prescribed timeline. Provident Fund and Employees State Insurance Acts are not applicable to the Company.

(B) Old Outstanding Debtors as on 31.03.2026:

RUPEES IN LAKHS

PARTY	OUTSTANDING	> One Year	Status
Aasma Microcare	5.16	5.16	Provided for as Doubtful

(C) Period wise Expense Analysis is enclosed as per Annexure A.

(D) Business Movement Chart enclosed as per Annexure B.

For Sapra Sharma & Associates LLP
FRN: 002682N/N500038
Chartered Accountants

Place: New Delhi
Dated: 06.05.2026
UDIN: 2608458368FMG02399

Partner

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ANNEXURE-A

(RUPEES IN LAKHS)

| EXPENSE | YEAR ENDED
31.03.2026 | PERIOD ENDED
31.12.2025 | YEAR ENDED
31.03.2025 |
| --- | --- | --- | --- |
| SALARIES | 31.60 | 25.86 | 34.85 |
| RENT | 4.39 | 3.22 | 6.73 |
| LEGAL & PROFESSIONAL | 19.47 | 15.10 - | 14.79 * |
| LISTING FEE | 11.07 | 10.26 | 9.67 |
| TRAVELLING &CONVEYANCE | 0.43 | 0.38 | 0.30 |
| DIRECTOR MEETING FEE | 3.15 | 2.25 | 3.15 |
| INTEREST | 25.12 | 19.40 | 34.79 |
| PROVISION FOR DOUBTFUL
DEBTS/BAD DEBTS WRITTEN OFF | 272.45 | 11.00 | 71.45 |

ANNEXURE-B

BUSINESS POSITION FOR FINANCIAL YEAR

ENDED 31.03.2026 (RUPEES IN LAKHS)

| SNO | PARTICULARS | LOAN OUTSTANDING
AS ON 01.04.2025 | FURTHER LOAN
DISBURSED | RECOVERY
MADE | CLOSING BALANCE
AS ON 31.03.2026 |
| --- | --- | --- | --- | --- | --- |
| 1. | CORPORATE LOANS | 1485.67 | 0.00 | 166.93 | 1150.73 |
| 2. | VEHICLE LOANS | 108.45 | 162.92 | 163.64 | 107.73 |
| 3. | CONSUMER LOANS | 41.61 | 47.30 | 88.76 | 0.15 |
| 4. | PERSONAL LOANS | 12.00 | 8.00 | 6.75 | 13.25 |
| | | 1647.73 | 218.22 | 426.08 | 1271.85 |