Suprajit Engineering Ltd. — Interim / Quarterly Report 2026

May 25, 2026

Suprajit

Suprajit Engineering Limited
Registered Office: #100 & 101, Bommasandra Industrial Area, Bengaluru - 560 099. Tel: +91-80-43421100. Fax: +91-80-27833279
E-mail: info@suprajit.com Web: www.suprajit.com
Corporate Identity Number (CIN): L29199KA1985PLC006934

May 25, 2026
SEL/SEC/2026-2027/5

| BSE Limited
Department of Corporate Services
P. J. Towers, 25th Floor, Dalal Street, Mumbai- 400 001
Ref: 532509 | National Stock Exchange of India Ltd
Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Bandra (E)
Mumbai- 400 051
Ref: SUPRAJIT |
| --- | --- |

Dear Sirs,

Sub: Outcome of the Board Meeting and Financial Results

As informed vide our letter dated May 6, 2026, we wish to inform that the Board of Directors of the Company met today and inter-alia transacted the following business:

a. Approved the audited Standalone and Consolidated Financial Statements of the Company for the year ended March 31, 2026 and Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended March 31, 2026. The copies of the financial results along with Auditors Report thereon are enclosed herewith.

b. Recommended a Final Dividend of Re. 2.00/- (200%) per equity Share of Re. 1/- each for the Financial Year 2025-26, subject to the approval of the shareholders at their ensuing Annual General Meeting ("AGM").

We hereby declare that Messrs S.R. Batliboi & Associates LLP, Chartered Accountants (Firm Registration No. 101049W/E300004), the Statutory Auditors of the Company have issued Audit Reports with unmodified opinion on the Audited Standalone and Consolidated financial results/statements of the Company for the financial year ended March 31, 2026.

The Meeting commenced at 1.00 p.m. and concluded at 5.26 p.m.

Please treat the above as compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Thanking you

Yours faithfully

For Suprajit Engineering Limited
Medappa
Gowda J
Medappa Gowda J
Date: 2026.05.25 17:45:36 +03'30'
CFO & Company Secretary

Encl: as above

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SUPRAJIT ENGINEERING LIMITED Regd Office: No. 100 & 101, Bommasandra Industrial Area, Bengaluru-560 099. Website - www.suprajit.com, email - info@suprajit.com CIN - L29199KA1985PLC006934
Statement of Standalone Financial Results for the Quarter and Year ended March 31, 2026
(Rs. in million)
	Particulars	Quarter ended			Year ended
		March 31, 2026 (Audited)*	December 31, 2025 (Unaudited)	March 31, 2025 (Audited)*	March 31, 2026 (Audited)	March 31, 2025 (Audited)
I	Revenue from operations	4,684.72	4,940.61	4,351.68	18,399.25	17,184.63
II	Other income	304.00	285.68	194.50	1,280.97	1,000.96
III	Total income (I+II)	4,988.72	5,226.29	4,546.18	19,680.22	18,185.59
IV	Expenses
	Cost of materials consumed	2,839.73	2,949.86	2,632.72	11,208.88	10,525.94
	Purchases of stock-in-trade	7.79	17.54	10.98	55.20	53.04
	Changes in inventories of finished goods, work-in-progress and stock-in-trade	99.14	20.81	33.06	4.47	(55.13)
	Employee benefits expense	669.86	697.39	603.21	2,703.67	2,412.49
	Finance costs	72.63	69.21	84.07	277.26	253.77
	Depreciation and amortization expense	136.35	124.01	108.26	500.92	450.47
	Other expenses	363.71	361.88	355.34	1,377.58	1,303.78
	Total expenses	4,189.21	4,240.70	3,827.64	16,127.98	14,944.36
V	Profit before exceptional items & tax expenses (III-IV)	799.51	985.59	718.54	3,552.24	3,241.23
VI	Exceptional Items (Refer note 5)	54.00	(71.11)	-	(17.11)	-
VII	Profit before tax expenses (V+VI)	853.51	914.48	718.54	3,535.13	3,241.23
VIII	Tax expense (net):
	Current tax	194.79	232.45	190.12	810.66	776.25
	Deferred tax charge/ (credit)	(1.21)	(28.23)	(16.14)	(22.96)	(62.30)
	Total tax expenses (net)	193.58	204.22	173.98	787.70	713.95
IX	Profit for the period (VII-VIII)	659.93	710.26	544.56	2,747.43	2,527.28
X	Other comprehensive income/ (loss), net of taxes
A	Items that will not be reclassified to profit or loss
	Re-measurement gain/(loss) on defined benefit plan	3.26	6.53	8.82	(4.32)	(12.83)
B	Items that will be reclassified to profit or loss
	Valuation gains/(losses) on derivative hedging instruments	(2.13)	2.52	-	(43.54)	-
		1.13	9.05	8.82	(47.86)	(12.83)
XI	Total comprehensive income for the period (IX+X)	661.06	719.31	553.38	2,699.57	2,514.45
XII	Paid-up equity share capital (Face value: Re.1/- each)	137.17	137.17	137.16	137.17	137.16
XIII	Other equity	-	-	-	15,941.37	13,677.48
XIV	Earnings per share (Face value: Re.1/- each) (in Rs.) (Not annualised for interim periods)
	Basic	4.81	5.17	3.97	20.01	18.33
	Diluted	4.81	5.17	3.97	20.01	18.31

*Refer note 8

Kula Ajith

Digitally signed by

Kumar Rai

Kula Ajith Kumar Rai

Date: 2026.05.25

17:05:36 +05'30'

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SUPRAJIT ENGINEERING LIMITED Regd Office: No. 100 & 101, Bommasandra Industrial Area, Bengaluru-560 099. Website - www.suprajit.com, email - info@suprajit.com CIN - L29199KA1985PLC006934
Statement of Standalone Assets and Liabilities
(Rs. in million)
Particulars	As at March 31, 2026 (Audited)	As at March 31, 2025 (Audited)
I ASSETS
Non-current assets
Property, plant and equipment	4,175.53	3,788.15
Capital work in progress	248.95	198.93
Right-of-use assets	180.54	194.23
Intangible assets	284.14	339.55
Intangible assets under development	22.53	9.00
Financial assets
Investments	5,462.49	3,909.48
Loans	3,407.55	3,252.09
Other financial assets	64.51	60.05
Income tax assets (net)	11.83	96.92
Other non-current assets	60.81	89.13
	13,918.88	11,937.53
Current assets
Inventories	2,262.71	2,151.76
Financial assets
Investments	1,958.07	1,958.29
Trade receivables	3,818.63	3,383.11
Cash and cash equivalents	85.52	357.93
Other bank balances	17.11	16.88
Loans	9.31	10.42
Other financial assets	1.75	106.96
Other current assets	185.31	200.43
	8,338.41	8,185.78
Total assets	22,257.29	20,123.31
II EQUITY AND LIABILITIES
A EQUITY
Equity share capital	137.17	137.16
Other equity	15,941.37	13,677.48
	16,078.54	13,814.64
B LIABILITIES
Non-current liabilities
Financial liabilities
Borrowings	721.66	374.79
Lease liabilities	28.73	39.25
Other financial liabilities	51.14	35.28
Provisions	161.02	57.84
Deferred tax liability (net)	121.35	160.40
Other non-current liabilities	12.31	14.25
	1,096.21	681.81
Current liabilities
Financial liabilities
Borrowings	2,873.90	3,071.30
Lease liabilities	10.53	12.14
Trade payables
Total outstanding dues of micro and small enterprises	302.03	402.67
Total outstanding dues of creditors other than micro and small enterprises	1,268.91	1,370.67
Other financial liabilities	325.62	272.79
Other current liabilities	119.27	209.60
Provisions	117.56	111.77
Current tax liabilities (net)	64.72	175.92
	5,082.54	5,626.86
Total equity and liabilities	22,257.29	20,123.31

Kula Ajith Kumar Rai

Digitally signed by

Date: 2026.05.25

17:05:54 +05'30'

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Kula Ajith

Kumar Rai

17:06:09 +05'30'

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Note:

1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on May 25, 2026.

2. The standalone financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

3. The Company is engaged in the business of manufacturing and selling of automotive and other components, which is monitored as a single segment by the chief operating decision maker, in context of Ind AS 108, and hence no additional disclosures are required.

4. On June 9, 2024, the Company, through its wholly owned subsidiary, Suprajit USA Inc., entered into share and asset purchase agreement for acquisition of the business of Stahlschmidt Cable Systems (SCS) out of insolvency proceedings in Germany. First stage of acquisition was completed effective from July 01, 2024 and second stage of acquisition got completed effective from May 31, 2025.

5. a) On November 21, 2025, the Government of India notified four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020, replacing twenty-nine existing labour laws.

The Company estimated and accounted for incremental liability in respect of defined benefit obligations of ₹ 71.11 million, which has been recognised as an exceptional item during the quarter ended December 31, 2025. The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as required.

b) The Company has reversed previously recognised impairment provision of ₹ 54.00 million for investment in wholly owned subsidiary Trifa Lamps Germany GmbH, Germany upon completion of liquidation process during the quarter ended March 31, 2026.

1. The Board of Directors, at its meeting held on May 25, 2026, recommended final dividend of Re.2/- (200%) per equity share (face value: Re.1/- each) for the financial year 2025-26. During the year, the Board of Directors had declared an interim dividend of Re. 1.50/- (150%) per share (face value: Re.1/- each), making the total dividend for the FY 2025-26, Rs.3.50/- (350%). In the financial year ended March 31, 2025, the Company declared an Interim dividend of Re. 1.25/- (125%) per share and a final dividend of Re. 1.75/- (175%) per share, making the total dividend paid for the FY 2024-25, Rs.3/- (300%).

2. Effective April 1, 2025, the Company has adopted hedge accounting for certain highly probable forecast sales transactions that are being hedged using forward contracts, in accordance with the Indian Accounting Standards (Ind AS 109).

3. The figures of last quarter of current year and previous year are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures for nine months of the respective year.

Place : Bengaluru
Date: May 25, 2026

For and on behalf of the Board of Directors

Kula Ajith Kumar Rai
Digitally signed by Kula Ajith Kumar Rai
Date: 26/04/2025 17:08:41 +05'00'

K. AJITH KUMAR RAI
Chairman
(DIN - 01160327)

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S.R. BATLIBOI & ASSOCIATES LLP
Chartered Accountants
12th Floor
"UB City" Canberra Block
No. 24, Vittal Mallya Road
Bengaluru - 560 001, India
Tel : +91 80 6648 9000

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To
The Board of Directors of
Suprajit Engineering Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of Suprajit Engineering Limited (the “Company”) for the quarter and year ended March 31, 2026 (“Statement”), 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 “Listing Regulations”).

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

i. is presented in accordance with the requirements of the Listing Regulations in this regard; and
ii. gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit and other comprehensive income/loss 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 (SAs) 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 Standalone 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 Standalone Financial Results

The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income/loss of the Company and other financial information in accordance with the applicable 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 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 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.

S.R. Batliboi & Associates LLP, a Limited Liability Partnership with LLP Identity No. AAB-4295
Regd. Office : 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016
BATLIBOI & ASSOCIATES LLP

S.R. BATLIBOI & ASSOCIATES LLP
Chartered Accountants

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 Standalone 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism 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 control.

• Obtain an understanding of internal control 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.

• 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 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 Statement, including the disclosures, and whether the Statement represents 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.

S.R. BATLIBOI & ASSOCIATES LLP

S.R. BATLIBOI & ASSOCIATES LLP

Chartered Accountants

Other Matter

The Statement includes the results for the quarter ended March 31, 2026 being the balancing figure between the audited figures in respect of the 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.

S.R. BATLIBOI & ASSOCIATES LLP

Chartered Accountants

ICAI Firm Registration Number: 101049W/E300004

per Navin Agrawal

Partner

Membership No.:056102

Unique Document Identification Number (UDIN): 26056102XNQFRJ8229

Place: Bengaluru

Date: May 25, 2026

*Refer note 9

17:03:23 +05'30'

Kumar Rai

17:03:57 +05'30'

Digitally signed by Kula

Ajith Kumar Rai

Date: 2026.05.25 17:04:12

+05'30'

Note:

1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on May 25, 2026.

2. The consolidated financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

3. The Group is engaged in the business of manufacturing and selling of automotive and other components, which is monitored as a single segment by the chief operating decision maker, in context of Ind AS 108, and hence no additional disclosures are required.

4. Business combination

On June 9, 2024, the Group, through its wholly owned subsidiary, Suprajit USA Inc., entered into share and asset purchase agreement for acquisition of the business of Stahlschmidt Cable Systems (SCS) out of insolvency proceedings in Germany. The first stage of acquisition was completed in previous year effective July 01, 2024 for a consideration of ₹ 936.00 million and the second stage of acquisition in Canada and China got completed effective from May 31, 2025 for a consideration of ₹ 304.00 million and with this the entire transaction got fully concluded. The Group accounted for the second stage of business acquisition based on final purchase price allocation as per the valuation carried out by an independent valuer and recognised capital reserve of ₹ 247.31 million.

Considering the effect of consolidation of second stage of acquisition of SCS business beginning May 31, 2025, the amounts for the current year/ quarter, are not comparable with those of previous year.

1. SCS Polaka Sp. z o.o., the subsidiary in Poland and Trifa Lamps Germany GmbH the subsidiary in Germany were liquidated effective August 05, 2025 and March 20, 2026 respectively.

2. On November 21, 2025, the Government of India notified four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020, replacing twenty-nine existing labour laws.

The Group estimated and accounted for incremental liability in respect of defined benefit obligations of ₹ 78.15 million, which was recognised as an exceptional item during the quarter ended December 31, 2025. The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as required.

1. The Board of Directors, at its meeting held on May 25, 2026, recommended final dividend of Re. 2/- (200%) per equity share (face value: Re. 1/- each) for the financial year 2025-26. During the year, the Board of Directors had declared an interim dividend of Re. 1.50/- (150%) per share (face value: Re.1/- each), making the total dividend for the FY 2025-26, Rs.3.50/- (350%). In the financial year ended March 31, 2025, the Company has declared an Interim dividend of Re. 1.25/- (125%) per share and a final dividend of Re. 1.75/- (175%) per share, making the total dividend paid for the FY 2024-25, Rs.3/- (300%).

2. Effective April 1, 2025, the Group adopted hedge accounting for certain highly probable forecast sales transactions that are being hedged using forward contracts, in accordance with the Indian Accounting Standards (Ind AS 109).

3. The figures of last quarter of current year and previous year are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures for nine months of the respective year. The figures for the corresponding previous period have been regrouped/reclassified wherever necessary, to make them comparable.

For and on behalf of the Board of Directors

Kula Ajith Kumar Rai
Digitally signed by Kula Ajith Kumar Rai
Date: 2026.05.25 17:04:35 +05'30'

K. AJITH KUMAR RAI
Chairman
(DIN - 01160327)

Place: Bengaluru
Date: May 25, 2026

S.R. BATLIBOI & ASSOCIATES LLP
Chartered Accountants
12th Floor
"UB City" Canberra Block
No. 24, Vittal Mallya Road
Bengaluru - 560 001, India
Tel : +91 80 6648 9000

Independent Auditor's Report on the Quarterly and Year to Date Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To
The Board of Directors of
Suprajit Engineering Limited

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date consolidated financial results of Suprajit Engineering Limited (“Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries together referred to as “the Group”), for the quarter and year ended March 31, 2026 (“Statement”), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditors on separate audited financial statements of the subsidiaries, the Statement:

i. includes the results of the Holding company and its following subsidiaries;
1. Suprajit Automotive Private Limited
2. Suprajit Europe Limited
3. Suprajit USA Inc.
4. Wescon Controls LLC
5. Trifa Lamps Germany GmbH (Liquidated on March 20, 2026)
6. Luxlite Lamps SARL
7. Suprajit Brownsville, LLC
8. Suprajit Mexico S. de RL de C.V.
9. Suprajit Hungary Kft.
10. Shanghai Lone-Star Cable Co., Ltd.
11. Suprajit Germany GmbH (w.e.f. April 25, 2024)
12. Suprajit Canada Limited (w.e.f. June 10, 2024)
13. Suprajit Morocco SARL (Formerly STAHLSCHMIDT Morocco SARL) (w.e.f. July 01, 2024)
14. SCS Polska Sp. z o.o (Liquidated on August 05, 2025)
15. Suprajit (Jiaxing) Automotive Systems Company Limited (w.e.f October 16, 2024)
16. Suprajit Chuhatsu Control Systems Private Limited (w.e.f December 27, 2024)

ii. are presented in accordance with the requirements of the Listing Regulations in this regard; and

iii. gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive income/loss and other financial information of the Group for the quarter and year ended March 31, 2026.

S.R. Batliboi & Associates LLP, a Limited Liability Partnership with LLP Identity No. AAB-4295
Regd. Office: 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016

S.R. BATLIBOI & ASSOCIATES LLP
Chartered Accountants

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs), as 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 Consolidated Financial Results” section of our report. We are independent of the Group 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 and other auditors in terms of their reports referred to in “Other Matter” paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Management’s Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated annual financial statements. The Holding Company’s Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the net profit and other comprehensive income/loss and other financial information of the Group in accordance with the applicable 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 Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group 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, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are also responsible for overseeing the financial reporting process of the Group.

Auditor’s Responsibilities for the Audit of the Consolidated 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

BATLIBOI & ASSOCIATES

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism 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 control.

• Obtain an understanding of internal control 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.

• 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 ability of the Group 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. 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 Group 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 represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group of which we are the independent auditors to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of the financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities included in the Statement of which we are the independent auditors 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.

We also performed procedures in accordance with the Master Circular issued by the Securities Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

Other Matter

a) The accompanying Statement includes the audited financial results and other financial information, in respect of fifteen subsidiaries, whose financial results (before consolidation adjustment) include total assets of Rs. 19,275.90 million as at March 31, 2026, total revenues of Rs. 6,592.80 million and Rs. 23,686.02 million, total net profit/(loss) after tax of Rs. (30.89) million and Rs. (288.54) million, total comprehensive income/(loss) of Rs. (99.95) million and Rs. (596.65) million, for the quarter and the year ended on that date respectively, and net cash inflows/ (outflows) of Rs. (145.17) million for the year ended March 31, 2026, as considered in the Statement which have been audited by their respective independent auditors.

The independent auditor’s report on the financial statements of these entities have been furnished to us by the Management and our opinion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of such auditors and the procedures performed by us as stated in paragraph above.

Certain of these subsidiaries are located outside India whose financial statements and other financial information have been prepared in accordance with the accounting principles generally accepted in their respective countries and which have been audited by other auditors under generally accepted auditing standards applicable in their respective countries. The Holding Company’s management has converted the financial statements of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have audited these conversion adjustments made by the Holding Company’s management. Our opinion in so far as it relates to the balances and affairs of such subsidiaries located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Holding Company and audited by us.

Our opinion on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors.

b) The Statement includes the results for the quarter ended March 31, 2026 being the balancing figures between the audited figures in respect of the full financial year ended March 31, 2026 and the published unaudited year-to-date figures up to the end of the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For S.R. Batliboi & Associates LLP
Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004

Peter Navin Agrawal
Partner
Membership No.: 056102

Unique Document Identification Number (UDIN): 26056102CKEBMU8463

Place: Bengaluru
Date: May 25, 2026