IVP

IVP LIMITED
Regd. Office :
Shashikant N. Redij Marg,
Ghorupdeo, Mumbai - 400 033
Tel. : +91-22- 3507 5360
Email : [email protected]
Website: www.ivpindia.com
CIN : L74999MH1929PLC001503

Ref. No. IVPSEC/SE/370/05/2026-27

May 21, 2026

| BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai- 400 001
Security Code: 507580 | National Stock Exchange of India Limited
‘Exchange Plaza’, C - 1, Block G,
Bandra- Kurla Complex,
Bandra (E),
Mumbai – 400 051
Stock Symbol: IVP |
| --- | --- |

Dear Sir/Madam,

Sub: Outcome of Board Meeting held on May 21, 2026

Further to our letter dated May 13, 2026, regarding intimation of the Board Meeting to be held today i.e., May 21, 2026, and in accordance with the Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we would like to inform you that the Board of Directors inter alia, have considered and approved the following:

Audited Financial Results (Standalone) for the quarter and financial year ended March 31, 2026:

The Audited Financial Results for the Quarter and financial year ended March 31, 2026, pursuant to Regulation 33 of Listing Regulations;

In this connection, we enclose herewith the following:

i. Statement showing the Audited Financial Results for the quarter/year ended March 31, 2026;
ii. Auditors’ Report on the Audited Financial Results;
iii. Statement of Assets and Liabilities for year ended March 31, 2026;
iv. Cash Flow statement for year ended March 31, 2026.

This is to inform you that the Statutory Auditors, M/s. Rajendra & Co., Chartered Accountants (Firm Registration No. 108355W), have issued an Audit Report with unmodified opinion on the Annual Audited Financial Results of the Company for financial year ended March 31, 2026, in terms of Regulation 33(3)(d) of the Listing Regulations.

The Results are also being published in Newspapers as per the requirement of the Listing Regulations.

Declaration of Dividend:

Th Board has recommended a final dividend of 15% (i.e. Rs. 1.5/- per share) on Equity shares of Rs. 10/- each (fully paid-up) for the financial year ended March 31, 2026.

The said dividend, if approved by the members at the ensuing 97th Annual General Meeting, will be credited/dispatched within the prescribed time as per the Companies Act, 2013.

IVP

IVP LIMITED
Regd. Office :
Shashikant N. Redij Marg,
Ghorupdeo, Mumbai - 400 033
Tel. : +91-22- 3507 5360
Email : [email protected]
Website: www.ivpindia.com
CIN : L74999MH1929PLC001503

Recommendation for re-appointment of Statutory Auditors of the Company:

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that based on the recommendation of the Audit Committee, the Board of Directors in its meeting held today, has approved the re-appointment of M/s. Rajendra & Co, Chartered Accountants, Mumbai (ICAI Firm Registration No.: 108355W), as Statutory Auditors of the Company for a second term of five consecutive years, starting from the conclusion of the 97th Annual General Meeting ('AGM') till the conclusion of the 102nd AGM of the Company to be held in the calendar year 2031, subject to approval of the shareholders of the Company at the ensuing Annual General Meeting.

The Brief resume/profile and disclosures required under Regulation 30 read with Schedule III of the SEBI Listing Regulations read along with SEBI Master Circular no. HO/49/14/14(7)2025-CFD POD2/I/3762/2026 dated January 30, 2026, is provided in ‘Annexure A’.

Appointment of Cost Auditors:

The Board has appointed M/s. Kishore Bhatia & Associates, Cost Accountants, (FRN: 00294) as Cost Auditors for FY 2026-27.

Re-appointment of Independent Directors for a second term of 5 years:

The Board, based on the recommendation of the Nomination and Remuneration Committee, has approved:

(i) Re-appointment of Mr. Ranjeev Ugamraj Lodha (DIN: 07478890) as an Independent Director of the Company for the second term of 5 (five) consecutive years w.e.f. July 28, 2026, subject to approval of the shareholders in the ensuing Annual General Meeting;

(ii) Re-appointment of Ms. Mala Arun Todarwal (DIN: 06933515) as an Independent Director of the Company for the second term of 5 (five) consecutive years w.e.f. June 11, 2026, subject to the approval of shareholders in the ensuing Annual General Meeting;

Mr. Ranjeev Ugamraj Lodha and Ms. Mala Arun Todarwal have confirmed that they meet the criteria of independence under Section 149 of the Companies Act, 2013 and Regulation 16 of the SEBI Listing Regulations.

We hereby confirm that Mr. Ranjeev Ugamraj Lodha and Ms. Mala Arun Todarwal are not debarred from holding the office of director by virtue of any order of Securities and Exchange Board of India or any other statutory authority. Further, they are not related to any of the Directors of the Company.

IVP

IVP LIMITED
Regd. Office :
Shashikant N. Redij Marg,
Ghorupdeo, Mumbai - 400 033
Tel. : +91-22- 3507 5360
Email : [email protected]
Website : www.ivpindia.com
CIN : L74999MH1929PLC001503

The Meeting commenced at 04:00 P.M. and concluded at 6:00 P.M.

This is for your information and records.

Thanking you,

Yours faithfully

For IVP Limited

Jay Ramesh
Deputy Director
Deputy Director
Mehta

Jay R Mehta
Company Secretary & Compliance Officer

Digitally signed by
Jay Ramesh Mehta
Date: 2026.05.21
18:09:14 +05'30'

RAJENDRA & CO.
CHARTERED ACCOUNTANTS
1311 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel : 6630 6735 E-mail : [email protected]

Independent Auditor's Report on Audit of the Annual Financial Results of IVP Limited ("the Company") pursuant to the requirements of Regulations 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015, as amended

To
The Board of Directors of
IVP LIMITED

Report on the audit of the Financial Results

Opinion

We have audited the accompanying Statement containing Financial Results for the year ended March 31,2026 (refer 'Other Matter' section below) of IVP LIMITED ("the Company"), being submitted by the Company pursuant to the requirements of Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the statement:

a. is presented in accordance with the requirements of the Listing Regulations in this regard; and
b. Gives a true and fair view in conformity with the recognition and measurement principles laid down in Indian accounting standards and other accounting principles generally accepted in India, of the net profit, other comprehensive income, and other financial information of the Company for the quarter and year ended March 31,2026.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the 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 financial statements under the provisions of the Act 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 obtained by us is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Financial Results

The Statement has been prepared on the basis of the annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives true and fair view of the net profit and other comprehensive income of the Company and other 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 compliance with Regulations 33 of the Listing Regulations.

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RAJENDRA & CO.
MUMBAI
CHARTERED ACCOUNTANTS

RAJENDRA & CO.
CHARTERED ACCOUNTANTS
1311 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel : 6630 6735 E-mail : [email protected]

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the 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 Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, 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 Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.

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

Identify and assess the risks of material misstatement of the Statement, 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 controls.
Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
Conclude on the appropriateness of 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 Statement or, if such disclosures are inadequate, to modify our opinion.

2 | Page
RAJENDRA & CO. MUMBAI
CHARTERED ACCOUNTANTS

RAJENDRA & CO. CHARTERED ACCOUNTANTS
1311 Dalamal Tower 211 Nariman Point Mumbai 400021 Tel : 6630 6735 E-mail : [email protected]

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 Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the financial statements.

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 Matter

The Statements includes the results for the quarter ended March 31, 2026 being the balancing figure between the audited figures in respect of full financial year ended March 31, 2026 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations. Our opinion on the audit of the financial results for the year ended March 31, 2026, is not modified in respect to this matter.

For Rajendra& Co.
Chartered Accountants
Firm's Registration No. 108355W

Handwritten signature: Arsu

Apurva Shah
Partner
Membership No. 047166
UDIN: 26047166 NUEVSN3188
Place: Mumbai
Date: May 21,2026

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IVP

IVP LIMITED

CIN: L 74999MH1929PLC001503

Regd. Office: Shashikant N. Redij Marg, Ghorupdeo, Mumbai - 400 033

Tel: +91-22-35075360, Email: [email protected], Website: www.ivpindia.com

STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026

(₹ in Lakhs, except EPS)

	Particulars	Quarter Ended			Year Ended
		31.03.2026	31.12.2025	31.03.2025	31.03.2026	31.03.2025
		Audited	Unaudited	Audited	Audited	Audited
I	Revenue from Operations	16,444	14,497	14,936	59,455	53,885
II	Other Income	112	121	94	428	358
III	Total Income (I+II)	16,556	14,618	15,030	59,883	54,243
IV	Expenses:
	(a) Cost of Materials Consumed	12,573	10,775	11,819	46,323	43,616
	(b) Purchases of Stock-in-Trade	0	-	-	7	93
	(c) Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade	222	592	137	838	(375)
	(d) Employee Benefits Expense	612	605	517	2,307	2,156
	(e) Finance Costs	137	170	210	737	779
	(f) Depreciation and Amortisation Expense	149	152	146	601	573
	(g) Other Expenses	1,667	1,660	1,686	6,510	5,875
	Total Expenses	15,360	13,954	14,515	57,323	52,717
V	Total profit before exceptional items and tax (III-IV)	1,196	664	515	2,560	1,526
VI	Exceptional Items	-	46	-	46	-
VII	Profit before tax (V-VI)	1,196	618	515	2,514	1,526
VIII	Tax Expense/(credit):
	(a) Current Tax	311	205	210	768	530
	(b) Tax in respect of earlier year	4	(11)	-	(7)	2
	(c) Deferred Tax	(5)	(39)	(78)	(115)	(137)
	Total Tax Expense	310	155	132	646	395
IX	Profit for the period (VII-VIII)	886	463	383	1,868	1,131
X	Other Comprehensive Income
	A. Items that will not be reclassified subsequently to Profit and Loss
	i. Remeasurement [Gain/(Loss)] on the Defined Benefit Plans	6	12	54	(2)	17
	ii. Income Tax on (i) above	(1)	(3)	(13)	1	(4)
	B. Items that will be reclassified subsequently to Profit and Loss
	i. Gain / (Loss) on Cash Flow Hedge	(56)	(18)	(87)	17	(94)
	ii. Income Tax on (i) above	14	5	22	(4)	24
	Other Comprehensive Income	(37)	(4)	(24)	12	(57)
XI	Total Comprehensive Income for the Period (IX+X)	849	459	359	1,880	1,074
XII	Paid-up Equity Share Capital (Face Value of ₹ 10/- each)	1,033	1,033	1,033	1,033	1,033
	Other Equity				14,676	12,900
	Earnings per Equity Share (of ₹ 10/- each) (Not Annualised*)
XIII	Basic and Diluted (₹)	8.58*	4.48*	3.71*	18.09	10.96

See accompanying notes to financial results

IVP LIMITED

STATEMENT OF ASSETS AND LIABILITIES AS AT MARCH 31, 2026

(₹ in Lakhs)

| Particulars | As at March 31, 2026
Audited | As at March 31, 2025
Audited |
| --- | --- | --- |
| ASSETS | | |
| Non-current Assets | | |
| (a) Property, Plant and Equipment | 6,483 | 6,911 |
| (b) Capital work-in-progress | 128 | 18 |
| (c) Right of use assets | 128 | 130 |
| (d) Investment Property | 9 | 9 |
| (e) Other Intangible Assets | 122 | 149 |
| (f) Financial Assets | | |
| (i) Loans | 7 | 4 |
| (ii) Other Financial Assets | 156 | 124 |
| (g) Income Tax Assets (Net) | 21 | 56 |
| (h) Deferred Tax Assets (Net) | 55 | - |
| (i) Other Non-current Assets | 30 | 34 |
| Total Non-current Assets | 7,139 | 7,435 |
| Current Assets | | |
| (a) Inventories | 7,385 | 8,346 |
| (b) Financial Assets | | |
| (i) Trade Receivables | 18,630 | 18,216 |
| (ii) Cash and Cash Equivalents | 314 | 108 |
| (iii) Bank Balance other than (ii) above | 10 | 10 |
| (iv) Loans | 25 | 19 |
| (v) Other Financial Assets | 95 | 4 |
| (c) Other Current Assets | 610 | 619 |
| Total Current Assets | 27,069 | 27,322 |
| Total Assets | 34,208 | 34,757 |
| EQUITY AND LIABILITIES | | |
| Equity | | |
| (a) Equity Share Capital | 1,033 | 1,033 |
| (b) Other Equity | 14,676 | 12,900 |
| Total Equity | 15,709 | 13,933 |
| Liabilities | | |
| Non-current Liabilities | | |
| (a) Provisions | 132 | 129 |
| (b) Deferred Tax Liabilities (Net) | - | 56 |
| Total Non-Current Liabilities | 132 | 185 |
| Current Liabilities | | |
| (a) Financial Liabilities | | |
| (i) Borrowings | 6,537 | 10,442 |
| (ii) Trade Payables | | |
| Total Outstanding dues of micro enterprises & small enterprises | 594 | 457 |
| Total Outstanding dues of other than micro enterprises & small enterprises | 10,404 | 8,954 |
| (iii) Other Financial Liabilities | 468 | 560 |
| (b) Other Current Liabilities | 231 | 146 |
| (c) Provisions | 133 | 80 |
| Total Current Liabilities | 18,367 | 20,639 |
| Total Liabilities | 18,499 | 20,824 |
| Total Equity and Liabilities | 34,208 | 34,757 |

IVP LIMITED
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2026
(₹ in Lakhs)

| Particulars | Year ended
31.03.2026
Audited | Year ended
31.03.2025
Audited |
| --- | --- | --- |
| A. CASH FLOW FROM OPERATING ACTIVITIES | | |
| Net profit before tax | 2,514 | 1,526 |
| Add / (Less):- Adjustments for Non-Cash / Non-Operating Items: | | |
| Depreciation and amortisation | 601 | 573 |
| Interest income | (23) | (9) |
| Loss/ (Gain) on property, plant and equipment sold/derecognised (Net) | (1) | 6 |
| Finance costs | 737 | 779 |
| Bad Debts written off | 14 | 48 |
| Provision for slow/non-moving inventories | (37) | 22 |
| Provision for doubtful debts (Net) | 523 | 633 |
| Unrealised foreign exchange (gain)/loss | 273 | (58) |
| Sundry credit balances / Provisions written back (net) | (4) | (0) |
| Operating profit before changes in working capital | 4,597 | 3,520 |
| Adjustment for changes in working capital | | |
| (Increase)/decrease in Trade receivables | (947) | (1,763) |
| (Increase)/decrease in Inventories | 998 | (786) |
| (Increase)/decrease in Other financial assets | (124) | (2) |
| (Increase)/decrease in Short term loans | (6) | - |
| (Increase)/decrease in Other current assets | 9 | (22) |
| (Increase)/decrease in Long term loans | (3) | 3 |
| Increase/(decrease) in Trade payables and other current liabilities | 1,474 | (999) |
| Increase/(decrease) in Other financial liabilities | (48) | 351 |
| Increase/(decrease) in Provisions | 53 | (13) |
| CASH GENERATED FROM OPERATIONS | 6,003 | 289 |
| Less: Taxes paid (net of refunds) | (732) | (536) |
| NET CASH FLOW FROM OPERATING ACTIVITIES (A) | 5,271 | (247) |
| B. CASH FLOW FROM INVESTING ACTIVITIES | | |
| Interest Received | 23 | 9 |
| Purchase of property, plant and equipment | (280) | (481) |
| Proceeds from sale of property, plant and equipment | 1 | 1 |
| NET CASH FLOW FROM/ (USED IN) INVESTING ACTIVITIES (B) | (256) | (471) |
| C. CASH FLOW FROM FINANCING ACTIVITIES | | |
| Finance costs | (734) | (779) |
| Dividends | (103) | (103) |
| Repayments of inter-corporate deposits | (1,270) | - |
| Proceeds/(Repayments) from/of short-term borrowings (net) | (2,702) | 1,510 |
| NET CASH FLOW FROM / (USED IN) FINANCING ACTIVITIES (C) | (4,809) | 628 |
| NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (A) + (B) + (C) | 206 | (90) |
| OPENING BALANCE OF CASH AND CASH EQUIVALENTS | 108 | 198 |
| Cash on hand | 0 | 0 |
| Balances with scheduled banks on current accounts, margin accounts and fixed deposit accounts | 314 | 108 |
| CLOSING BALANCE OF CASH AND CASH EQUIVALENTS | 314 | 108 |

Notes:

The above results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 21st May, 2026. The same have been audited by the statutory auditors who have issued an unmodified opinion thereon.
The Financial Results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under section 133 of the Companies Act, 2013 read with the relevant rules of the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time.
The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four labour codes viz 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 "Codes"). The Codes have been made effective from November 21, 2025. The Ministry of Labour & Employment notified Central Rules on 8 May 2026 however State rules are yet to be notified. The new Labour Codes have resulted in one time increase in provision for employee benefit of the company. The estimated incremental impact of these changes as assessed by the Company amounts to Rs.46 lakhs pertains to past services rendered up to 31st March 2026 and this has been recognised and presented as Exceptional Items in the financial results of the Company for the quarter and nine months ended December 31, 2025 and for the year ended March 31, 2026 consistent with the guidance provided by the Institute of Chartered Accountants of India. Once Central/ State Rules are notified by the Government on all aspects of the Codes, the Company will evaluate impact, if any, on the measurement of employee benefits and would provide appropriate accounting treatment.
In respect of the matter involving misrepresentation and falsification of customer records by a sales employee detected in the preceding quarter, the investigation initiated was concluded during this quarter. The total impact of such fraud aggregated to Rs. 613 lakhs and has been fully provided for. The Company has been consistently following the Expected Credit Loss (ECL) model in accordance with Ind AS 109 "Financial Instruments" and the amounts provided for are as under:

| For the Quarter Ended
31.03.2026 | For the Quarter Ended
31.12.2025 | For the Quarter Ended
31.03.2025 | Total as at 31.03.26 | Total as at 31.03.25 | Provision for
FY25-26 |
| --- | --- | --- | --- | --- | --- |
| NIL | 52 | 18 | 613 | 359 | 254 |

The Company has initiated steps for recovery and Internal controls and processes have been further strengthened to mitigate and prevent recurrence of such incidents.
The Board of Directors have recommended a dividend @15% (i.e.Rs.1.50/- per Equity share) for the financial year ended March 31, 2026. The dividend is subject to approval by the shareholders at the ensuing Annual General Meeting of the Company.
The figures for quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between audited figures in respect of the full financial year and the published year-to-date figures upto Nine months of the relevant financial year which were subjected to limited review.
Figures for the previous periods have been regrouped, recast and reclassified, wherever necessary.

Place: Mumbai
Dated: 21st May, 2026

IVP

IVP LIMITED
Regd. Office :
Shashikant N. Redij Marg,
Ghorupdeo, Mumbai - 400 033
Tel. : +91-22-3507 5360
Email : [email protected]
Website: www.ivpindia.com
CIN : L74999MH1929PLC001503

ANNEXURE A

Disclosure under sub-para (7) of Para A of Part A of Schedule III of Listing Regulations and SEBI Master Circular

Sr. No.	Particulars	Statutory Auditor	Cost Auditor
		M/s. Rajendra & Co., Chartered Accountants	M/s. Kishore Bhatia & Associates, Cost Accountants
1	Reason for change viz. appointment, re-appointment, resignation,—removal, death or otherwise	Re-appointment as Statutory Auditors.	Appointment as Cost Auditors for FY 2026-27.
2	Date of appointment/re-appointment cessation (as applicable) & term of Re-appointment	Re-appointed at Board Meeting held on May 21, 2026 for a period of 5 years from the conclusion of 97^{th} Annual General Meeting, subject to the approval of the shareholders at the ensuing 97^{th} AGM of the Company.	Date of Appointment: May 21, 2026.
3	Term of appointment/Re-appointment	5 Years	1 Year (Financial Year 2026-27)
4	Brief profile	M/s. Rajendra and Co. is a firm of Chartered Accountants which has been providing inter alia Statutory Audit Services in its current form of enterprise since September 1993. Its offices are located at Nariman Point. The firm provides Statutory Audit services to other Listed companies too and is familiar with Accounting Pronouncements as well as IndAS accounting, which would need to be reviewed under this engagement. They have subjected themselves to peer review process of the Institute of Chartered Accountants of India (ICAI) and hold a valid certificate issued by the ‘Peer Review Board of ICAI’.	M/s Kishore Bhatia and Associates is a firm of Practising Cost accountants based in Mumbai offering a wide spectrum of services to its esteemed clientele. We are present in the Costing field for more than three decades. The firm has handled various assignments in Costing such as Cost audit, certifications, setting up costing systems, Cost consultancy, Costing-based turnaround strategies, etc. across diverse industry and client base.

The Firms has highly qualified Partners and an experienced team. The Firm has conducted Cost Audits for clients in Pharmaceuticals, Engineering, Chemicals, Insecticides, Construction, Real Estate, Infrastructure, Steel, |

IVP

IVP LIMITED
Regd. Office :
Shashikant N. Redij Marg,
Ghorupdeo, Mumbai - 400 033
Tel. : +91-22- 3507 5360
Email : [email protected]
Website : www.ivpindia.com
CIN : L74999MH1929PLC001503

			Telecommunications, Plastics & Polymers, Petroleum, FMCG, Medical Devices, Ports, Roads, Paints, Energy, etc.
5	Disclosure of relationships between directors (in case of appointment of a Director)	Not Applicable	Not Applicable

IVP

IVP LIMITED

Regd. Office :

Shashikant N. Redij Marg,

Ghorupdeo, Mumbai - 400 033

Tel. : +91-22-3507 5360

Email : [email protected]

Website: www.ivpindia.com

CIN : L74999MH1929PLC001503

ANNEXURE B

Disclosure under sub-para (7) of Para A of Part A of Schedule III of Listing Regulations and SEBI Master Circular

Sr. No.	Particulars	Re-Appointment of Independent Director
		Mr. Ranjeev Ugamraj Lodha	Ms. Mala Arun Todarwal
1	Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise	Re-Appointment as an Independent Director	Re-Appointment as an Independent Director
2	Date of appointment/ re-appointment cessation (as applicable) & term of Re-Appointment	July 28, 2026, subject to the approval of the members of the Company.	June 11, 2026, subject to the approval of the members of the Company.
3	Term of appointment/ Re-appointment	5 Years	5 Years
4	Brief profile	Mr. Ranjeev Lodha is an Associate Member of the Institute of Chartered Accountants of India and holds a Post Graduate Diploma in Management of Business Finance (MBF) from Indian Institute of Finance, Delhi. He has over 35 years of experience across Corporate Finance in areas such as Mergers and Divestments, Financial Reporting and Consolidation, Treasury, Controlling, implementation of ERP systems, strategic finance and investor relations. He has worked with corporates such as Tata Chemicals Limited, Mahindra and Mahindra Limited, and Huhtamaki India Limited.	Ms. Mala Todarwal is a fellow member of the Institute of Chartered Accountants of India and is a practicing Chartered Accountant since 2009. She is also the member of Bombay Chartered Accountants Society. She started her career with Deloitte and is an active partner of M/s. Arun Todarwal & Associates LLP. During her years of practice, she has handled various professional assignments including statutory audits, management assurance, management and systems audit, due diligence, taxation, international taxation etc. She has been an independent Director in several companies and over her tenure has helped companies in strengthening their corporate governance structure, risk assessment and plans to mitigate them as well as implementation of recommendations given by the auditors on strengthening the controls and processes of Companies.
5	Disclosure of relationships between directors (in case of appointment of a director	None of the Directors/ KMPs are related to Mr. Ranjeev Ugamraj Lodha.	None of the Directors/ KMPs are related to Ms. Mala Arun Todarwal.

IVP

IVP LIMITED
Regd. Office :
Shashikant N. Redij Marg,
Ghorupdeo, Mumbai - 400 033
Tel. : +91-22- 3507 5360
Email : [email protected]
Website : www.ivpindia.com
CIN : L74999MH1929PLC001503

6	Information as required pursuant to BSE Circular ref. no. LIST/COMP/14/ 2018- 19 and NSE ref. no. NSE/CML/2018/24, dated June 20, 2018.	Mr. Ranjeev Ugamraj Lodha is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority	Ms. Mala Arun Todarwal is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority

AI assistant

IVP Ltd. Earnings Release 2026

59212_rns_2026-05-21_53c18afc-ce83-4d65-866d-662427654593.pdf

Independent Auditor's Report on Audit of the Annual Financial Results of IVP Limited ("the Company") pursuant to the requirements of Regulations 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015, as amended

Report on the audit of the Financial Results

Opinion

Basis for Opinion

Management's Responsibilities for the Financial Results

Auditor's Responsibilities for the Audit of the Financial Results

Other Matter

IVP LIMITED

IVP LIMITED

STATEMENT OF ASSETS AND LIABILITIES AS AT MARCH 31, 2026

Notes:

ANNEXURE A

Disclosure under sub-para (7) of Para A of Part A of Schedule III of Listing Regulations and SEBI Master Circular

ANNEXURE B

AI assistant

IVP Ltd. — Earnings Release 2026

59212_rns_2026-05-21_53c18afc-ce83-4d65-866d-662427654593.pdf

Independent Auditor's Report on Audit of the Annual Financial Results of IVP Limited ("the Company") pursuant to the requirements of Regulations 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015, as amended

Report on the audit of the Financial Results

Opinion

Basis for Opinion

Management's Responsibilities for the Financial Results

Auditor's Responsibilities for the Audit of the Financial Results

Other Matter

IVP LIMITED

IVP LIMITED

STATEMENT OF ASSETS AND LIABILITIES AS AT MARCH 31, 2026

Notes:

ANNEXURE A

Disclosure under sub-para (7) of Para A of Part A of Schedule III of Listing Regulations and SEBI Master Circular

ANNEXURE B

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IVP Ltd. Earnings Release 2026