Nilachal Refractories Ltd. — Major Shareholding Notification 2026

May 2, 2026

SFAL SPECIALITY ALLOYS LIMITED

CIN: U24209WB2023PLC260273

Regd. off: "VISHWAKARMA"

86-C, Topsia Road, 2nd Floor

Kolkata - 700 046

Phone: 2285-2323/2327

Fax: 91-33-2282-2328

E-mail: sfalspecialityalloys@gmail.com

April 30, 2026

The Manager

BSE Limited

Department of Corporate Services Floor

25, P. J. Towers,

Dalal Street Mumbai - 400 001

The Secretary

The Calcutta Stock Exchange Ltd

7, Lyons Range,

Kolkata 700 001

Dear Sir/Madam,

Sub: Regulation 29(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

In accordance with Regulation 29 (1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, we wish to inform you that we acquire 44,000 equity share of Nilachal Refractories Limited (“Target Company”).

In compliance with Regulation 29(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, please find attached details of acquisition in the prescribed format in Annexure I for disclosure to target company and stock exchanges where the shares of the target company are listed.

Kindly acknowledge receipt of the same.

For SFAL Speciality Alloys Limited

SFAL Speciality Alloys Limited.

Authorised Signatory

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Disclosures under Regulation 29(1) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

Part-A- Details of the Acquisition

Name of the Target Company (TC)	Nilachal Refractories Limited
Name(s) of the acquirer and Persons Acting in Concert (PAC) with the acquirer	SFAL Speciality Alloys Limited (“Acquirer”)
Whether the acquirer belongs to Promoter/Promoter group	No
Name(s) of the Stock Exchange(s) where the shares of TC are Listed	1. BSE Limited (“BSE”)
2. the Calcutta Stock Exchange (“CSE”)
Details of the acquisition as follows	Number	% w.r.t. total share/voting capital wherever applicable(*)	% w.r.t. total diluted share/voting capital of the TC (**)
Before the acquisition under consideration, holding of acquirer along with PACs of:
a) Shares carrying voting rights	1,43,33,522	70.40	-
b) Shares in the nature of encumbrance (pledge/ lien/ non-disposal undertaking/ others)	-	-	-
c) Voting rights (VR) otherwise than by equity shares	-	-	-
d) Warrants/convertible securities/any other instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category)	-	-	-
e) Total (a+b+c+d)	1,43,33,522	70.40	-
Details of acquisition
a) Shares carrying voting rights acquired	44,000	0.216	-
b) VRs acquired otherwise than by equity shares	-	-	-
c) Warrants/convertible securities/any other instrument that entitles the acquirer to receive shares carrying category) acquired	-	-	-
d) Shares in the nature of encumbrance (pledge/ lien/ non-disposal undertaking/ others)	-	-	-
e) Total (a+b+c+/-d)	44,000	0.216	-
After the acquisition, holding of acquirer along with PACs of:
a) Shares carrying voting rights	1,43,77,522	70.61	-

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b) VRs otherwise than by equity shares	-	-	-
c) Warrants/convertible securities/any other instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category) after acquisition	-	-	-
d) Shares in the nature of encumbrance (pledge/ lien/ non-disposal undertaking/ others)	-	-	-
e) Total (a+b+c+d)	1,43,77,522	70.61	-
Mode of acquisition (e.g. open market / public issue / rights issue / preferential allotment / inter-se transfer/encumbrance, etc.)	Inter-se transfer (pursuant to Share Purchase Agreement dated March 11, 2026)
Salient features of the securities acquired including time till redemption, ratio at which it can be converted into equity shares, etc.	Not Applicable
Date of acquisition of date of receipt of intimation of allotment of shares / VR/ warrants/convertible securities/any other instrument that entitles the acquirer to receive shares in the TC.	April 29, 2026
Equity share capital / total voting capital of the TC before the said acquisition	₹ 20,36,14,500 comprising of 2,03,61,450 equity shares of face value of ₹ 10 each
Equity share capital/ total voting capital of the TC after the said acquisition	₹ 20,36,14,500 comprising of 2,03,61,450 equity shares of face value of ₹ 10 each
Total diluted share/voting capital of the TC after the said acquisition	Not Applicable

For SFAL Speciality Alloys Limited
SFAL Speciality Alloys Limited.
Signature
Authorised Signatory
Signature
Place: Kolkata
Date: April 30, 2026

Note:

() Total share capital/ voting capital to be taken as per the latest filing done by the company to the Stock Exchange under Clause 35 of the listing Agreement.
(*) Diluted share/voting capital means the total number of shares in the TC assuming full conversion of the outstanding convertible securities/warrants into equity shares of the TC.