Integrated Filing-Governance



General information about company

Scrip Code 508906
NSE Symbol EVERESTIND
MSEI Symbol NOTLISTED
ISIN INE295A01018
Name of the entity Everest Industries Limited
Date of start of financial year 01-Apr-2025
Date of end of financial year 31-Mar-2026
Reporting Quarter Yearly
Date of Quarter Ending 31-Mar-2026
Type of company Equity
Whether Annexure I (Part A) of the SEBI Circular dated December 31, 2024 related to Compliance Report on Corporate Governance is applicable to the entity? Yes
Whether Annexure I (Part B) of the SEBI Circular dated December 31, 2024 related to Investor Grievance Redressal Report is Applicable to the entity? Yes
Whether Annexure I (Part C) of the SEBI Circular dated December 31, 2024 related to Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies is Applicable to the entity? No
Reason For Part C Of Annexure I Disclosure Of Acquisition Of Shares OrVotingRightsInUnlistedCompaniesIsNotApplicableToTheEntity Everest Buildpro Private Limited, a wholly owned subsidiary of the Company, alloted 1,54,150 partly paid-up Equity Shares of Rs. 10/- each at a premium of Rs. 8,289/- per equity share by way of rights issue to the Company. Rs. 973/- per share amounting to Rs. 14,99,87,950/- was paid on application. However, Percentage of Shareholding before and after above acquisition of the Company was 100% and there was no change in terms of % acquisition and hence, the disclosure of acquisition of shares is not applicable.
Whether Annexure I (Part D) of the SEBI Circular dated December 31, 2024 related to Disclosure of Imposition of Fine or Penalty is Applicable to the entity? Yes
Whether Annexure I (Part E) of the SEBI Circular dated December 31, 2024 related to Disclosure of Updates to Ongoing Tax Litigations or Disputes is Applicable to the entity? Yes
Whether Annexure I (Part F) of the SEBI Circular dated December 31, 2024 related to Disclosure Of Loans / Guarantees / Comfort Letters / Securities Etc. is Applicable to the entity? Yes
Risk management committee Yes
Market Capitalisation as per immediate previous Financial Year Top 2000 listed entities
Is SCORE ID Available ? Yes
SCORE Registration ID e00130
Reason For No SCORE ID
Type of Submission New
Remarks (website dissemination)



Annexure I
Annexure I to be submitted by listed entity on quarterly basis
I. Composition of Board of Directors
Disclosure of notes on composition of board of directors explanatory Numbers of membership also includes number of Chairmanship. Further, Membership/Chairmanship of listed and unlisted public Companies are included. The Names of Directors are provided as per PAN.
Whether the listed entity has a Regular Chairperson Yes
Whether Chairperson is related to MD or CEO No Disqualification of Directors under section 164 of the Companies Act, 2013
Sr Title (Mr / Ms) Name of the Director PAN DIN Category 1 of directors Category 2 of directors Category 3 of directors Date of Birth Whether the director is disqualified? Start Date of disqualification End Date of disqualification Details of disqualification Current status Whether special resolution passed? [Refer Reg. 17(1A) of Listing Regulations] Date of passing special resolution Initial Date of appointment Date of Re-appointment Date of cessation Tenure of director (in months) No of Directorship in listed entities including this listed entity (Refer Regulation 17A of Listing Regulations) No of Independent Directorship in listed entities including this listed entity [with reference to proviso to regulation 17A(1) & 17A(2)] Number of memberships in Audit/ Stakeholder Committee(s) including this listed entity (Refer Regulation 26(1) of Listing Regulations) No of post of Chairperson in Audit/ Stakeholder Committee held in listed entities including this listed entity (Refer Regulation 26(1) of Listing Regulations) Reason for Cessation Notes for not providing PAN Notes for not providing DIN
1 Mr. Anant Jaivant Talaulicar 00031051 Non-Executive - Independent Director Chairperson 11-Jul-1961 No Active NA 21-Nov-2019 21-Nov-2024 76 5 4 9 1
2 Ms. Padmini Sekhsaria 00046486 Non-Executive - Non Independent Director Not Applicable 06-Sep-1975 No Active NA 26-Feb-2019 26-Feb-2019 1 0 0 0
3 Mr. Rajendra Prabhakar Chitale 00015986 Non-Executive - Independent Director Not Applicable 10-Apr-1961 No Active NA 23-Jan-2019 23-Jan-2024 86 3 3 2 2
4 Mr. Alok Mahinder Nanda 02149755 Non-Executive - Independent Director Not Applicable 14-Jul-1960 No Active NA 23-Jan-2019 23-Jan-2024 86 1 1 1 1
5 Mr. Ashok Kumar Barat 00492930 Non-Executive - Independent Director Not Applicable 05-Dec-1956 No Active NA 19-Mar-2024 19-Mar-2024 24.13 7 7 8 5
6 Ms. Bijal Ajinkya 01976832 Non-Executive - Independent Director Not Applicable 22-Jul-1976 No Active NA 19-Mar-2024 19-Mar-2024 24.13 4 4 6 1
7 Mr. Hemant Khurana 08652827 Executive Director Not Applicable CEO-MD 04-Jan-1972 No Active NA 13-Sep-2025 1 0 2 0



Annexure 1

II. Composition of Committees
Disclosure of notes on composition of committees explanatory .The Company does not fall under the Top 1000 Companies as per market capitalization as on December 31, 2025. However, due to Regulation 3(2A) of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, the Company is complying with the provisions of constitution of Risk Management Committee.



Audit Committee Details
Whether the Audit Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 00015986 Rajendra Prabhakar Chitale Non-Executive - Independent Director Chairperson 10-Apr-2019
2 00031051 Anant Jaivant Talaulicar Non-Executive - Independent Director Member 06-Dec-2019
3 00492930 Ashok Kumar Barat Non-Executive - Independent Director Member 01-Apr-2024
4 08652827 Hemant Khurana Executive Director Member 13-Sep-2025



Nomination and remuneration committee
Whether the Nomination and remuneration committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 00492930 Ashok Kumar Barat Non-Executive - Independent Director Chairperson 01-Apr-2024
2 00046486 Padmini Sekhsaria Non-Executive - Non Independent Director Member 10-Apr-2019
3 00031051 Anant Jaivant Talaulicar Non-Executive - Independent Director Member 06-Dec-2019
4 01976832 Bijal Ajinkya Non-Executive - Independent Director Member 01-Oct-2024



Stakeholders Relationship Committee
Whether the Stakeholders Relationship Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 02149755 Alok Mahinder Nanda Non-Executive - Independent Director Chairperson 01-Oct-2024
2 00031051 Anant Jaivant Talaulicar Non-Executive - Independent Director Member 01-Apr-2024
3 08652827 Hemant Khurana Executive Director Member 13-Sep-2025



Risk Management Committee
Whether the Risk Management Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 00492930 Ashok Kumar Barat ID Chairperson 01-Apr-2024
2 00015986 Rajendra Prabhakar Chitale ID Member 28-May-2021
3 00031051 Anant Jaivant Talaulicar ID Member 28-May-2021
4 08652827 Hemant Khurana ED Member 13-Sep-2025



Annexure 1
III. Meeting of Board of Directors
Disclosure of notes on meeting of board of directors explanatory
Sr Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Notes for not providing Date Whether requirement of Quorum met (Yes/No) Total Number of Directors as on date of the meeting Number of Directors present* (All directors including Independent Director) No. of Independent Directors attending the meeting*
1 29-Oct-2025 Yes 7 7 5
2 06-Feb-2026 99 Yes 7 6 4
3 26-Mar-2026 47 Yes 7 6 4



Annexure 1
IV. Meeting of Committees
Disclosure of notes on meeting of committees explanatory
Sr Name of Committee Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Name of other committee Reson for not providing date Whether requirement of Quorum met (Yes/No) Total Number of Directors in the Committee as on date of the meeting Number of Directors Present (All Directors including Independent Director) No. of Independent Directors attending the meeting* No. of members attending the meeting (other than Board of Directors)
1 Audit Committee 29-Oct-2025 Yes 4 4 3 0
2 Audit Committee 06-Feb-2026 99 Yes 4 4 3 0
3 Audit Committee 18-Mar-2026 39 Yes 4 4 3 0
4 Stakeholders Relationship Committee 28-Jan-2026 Yes 3 3 2 0



Annexure 1
VI. Affirmations
Sr Subject Compliance status (Yes/No)
1 The composition of Board of Directors is in terms of SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
2 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015 a. Audit Committee Yes
3 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. b. Nomination & remuneration committee Yes
4 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. c. Stakeholders relationship committee Yes
5 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. d. Risk management committee (applicable to the top 1000 listed entities) Yes
6 The committee members have been made aware of their powers, role and responsibilities as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015. Yes
7 The meetings of the board of directors and the above committees have been conducted in the manner as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
8 This report and/or the report submitted in the previous quarter has been placed before Board of Directors. Yes
9 Any comments/observations/advice of Board of Directors may be mentioned here:



Annexure 1
Sr Subject Compliance status
1 Name of signatory Amruta Avasare
2 Designation Company Secretary and Compliance Officer



Details of Cyber security incidence
Whether as per Regulation 27(2)(ba) of SEBI (LODR) Regulations, 2015 there has been cyber security incidents or breaches or loss of data or documents during the quarter No
Other details of cyber security incidence or breaches or loss of data event
Number of cyber security incidence or breaches or loss of data event occurred during the quarter
Sr Date of the event Brief details of the event



Annexure II to be submitted by listed entity at the end of the financial year (for the whole of financial year)
I. Disclosure on website in terms of LODR Regulation
Sr Item Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here. Web address
1.1 Details of business Yes https://www.everestind.com/
1.2 Memorandum of Association and Articles of Association Yes https://www.everestind.com/public/pdfs/Memorandum_of_Association_and_Articles_of_Association.pdf
1.3 Brief profile of board of directors including directorship and full time positions in body corporates Yes https://www.everestind.com/public/pdfs/Briefprofileofboardofdirectorsincludingdirectorshipinbodiescorporate_L.pdf
2 Terms and conditions of appointment of independent directors Yes https://www.everestind.com/public/pdfs/Terms-and-conditions-of-appointment.pdf
3 Composition of various committees of board of directors Yes https://www.everestind.com/investor-relations#Board-of-Directors
4 Code of conduct of board of directors and senior management personnel Yes https://www.everestind.com/public/storage/codes-and-policies/January2023/KIEl8gKrszPyoWbcyVzR.pdf
5 Details of establishment of vigil mechanism or whistle blower policy Yes https://www.everestind.com/public/storage/codes-and-policies/February2025/y5d2EkGekGs8EmVOnUHK.pdf
6 Criteria of making payments to non-executive directors Yes https://www.everestind.com/public/storage/codes-and-policies/March2023/N7nzr36NprIf7mWK9efy.pdf
7 Policy on dealing with related party transactions Yes https://www.everestind.com/public/storage/codes-and-policies/April2026/VKJcLbUVXYdxujvf93qp.pdf
8 Policy for determining material subsidiaries Yes https://www.everestind.com/public/storage/codes-and-policies/February2026/UpLaJNF36Tj30vhZPLQz.pdf
9 Details of familiarization programmes imparted to independent directors Yes https://www.everestind.com/public/storage/familiarization-programmes/April2026/ao8dKWy3bnVYfrCecgQ5.pdf
10 Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances Yes https://www.everestind.com/investor-relations#Contact-Details
11 Email address for grievance redressal and other relevant details Yes https://www.everestind.com/investor-relations#Contact-Details
12 Financial results Yes https://www.everestind.com/investor-relations/quarterly-financial-results
13 Shareholding pattern Yes https://www.everestind.com/investor-relations/shareholding-pattern
14 Details of agreements entered into with the media companies and/or their associates NA
15.1 Schedule of analyst or institutional investor meet and presentation prepared by listed entity for analyst or institutional investor meet NA
15.2 Audio or video recordings and transcripts of post earnings/quarterly calls NA
16 New name and the old name of the listed entity NA
17 Advertisements as per regulation 47 (1) Yes https://www.everestind.com/investor-relations/newspaper-advertisement
18 Credit rating or revision in credit rating obtained Yes https://www.everestind.com/public/pdfs/Creditratingorrevisionincreditratingobtained.pdf
19 Separate audited financial statements of each subsidiary of the listed entity Yes https://www.everestind.com/investor-relations/subsidiaries-financial-statements
20 Secretarial compliance report Yes https://www.everestind.com/investor-relations/secretarial-compliance-report
21 Materiality policy as per regulation 30 (4) Yes https://www.everestind.com/public/storage/codes-and-policies/April2026/PPAu0mkkoeVXb04837eP.pdf
22 Disclosure of contact details of KMP who are authorized for the purpose of determining materiality as required under regulation 30(5) Yes https://www.everestind.com/public/storage/regulation30-information/September2025/i57ZsjhyItvxEr3UOzGB.pdf
23 Disclosures under regulation 30(8) Yes https://www.everestind.com/investor-relations/regulation-46-information
24 Statements of deviation(s) or variations(s) as specified in regulation 32 NA
25 Dividend distribution policy as specified in regulation 43A (1) Yes https://www.everestind.com/public/storage/codes-and-policies/November2022/T6v1LE6DlXqnmbsURXOs.pdf
26.1 Annual return as provided under section 92 of the Companies Act 2013 Yes https://www.everestind.com/investor-relations/annual-returns
26.2 Employee benefit scheme documents framed in terms of SEBI (SBEB) regulations 2021
27 Confirmation that the above disclosures are in a separate section as specified in regulation 46(2) Yes https://www.everestind.com/investor-relations/regulation-46-information
28 Compliance with regulation 46(3) with respect to accuracy of disclosures on the website and timely updation Yes https://www.everestind.com/investor-relations/regulation-46-information
29 Disclosure of notes on website in terms of Listing Regulations explanatory


Annexure II
II. Annual Affirmations
Sr Particulars Regulation Number Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here.
1 Independent director(s) have been appointed in terms of specified criteria of independence and/or eligibility 16(1)(b) Yes
2 Board Composition 17(1), 17(1A) & 17(1C), 17(1D) & 17(1E) Yes
3 Meeting Of Board Of Directors 17(2) Yes
4 Quorum of board meeting 17(2A) Yes
5 Review of Compliance Reports 17(3) Yes
6 Plans for orderly succession for appointments 17(4) Yes
7 Code of Conduct 17(5) Yes
8 Fees/compensation 17(6) Yes
9 Minimum Information 17(7) Yes
10 Compliance Certificate 17(8) Yes
11 Risk Assessment & Management 17(9) Yes
12 Performance Evaluation of Independent Directors 17(10) Yes
13 Recommendation of Board 17(11) Yes
14 Maximum number of Directorships 17A Yes
15 Composition of Audit Committee 18(1) Yes
16 Meeting of Audit Committee 18(2) Yes
17 Role of Audit Committee and information to be reviewed by the audit committee 18(3) Yes
18 Composition of nomination & remuneration committee 19(1) & (2) Yes
19 Quorum of Nomination and Remuneration Committee meeting 19(2A) Yes
20 Meeting of Nomination and Remuneration Committee 19(3A) Yes
21 Role of Nomination and Remuneration Committee 19(4) Yes
22 Composition of Stakeholder Relationship Committee 20(1), 20(2) & 20(2A) Yes
23 Meeting of Stakeholders Relationship Committee 20(3A) Yes
24 Role of Stakeholders Relationship Committee 20(4) Yes
25 Composition and role of risk management committee 21(1),(2),(3),(4) Yes
26 Meeting of Risk Management Committee 21(3A) Yes
27 Quorum of Risk Management Committee meeting 21(3B) Yes
28 Gap between the meetings of the Risk Management Committee 21(3C) Yes
29 Vigil Mechanism 22 Yes
30 Policy for related party Transaction 23(1), (1A), (5), (6), & (8) Yes
31 Prior or Omnibus approval of Audit Committee for all related party transactions 23(2), (3) Yes
32 Approval for material related party transactions 23(4) NA
33 Disclosure of related party transactions on consolidated basis 23(9) Yes
34 Composition of Board of Directors of unlisted material Subsidiary 24(1) NA
35 Other Corporate Governance requirements with respect to subsidiary of listed entity 24(2),(3),(4),(5) & (6) Yes
36 Alternate Director to Independent Director 25(1) NA
37 Maximum Tenure 25(2) Yes
38 Appointment, Re-appointment or removal of an Independent Director through special resolution or the alternate mechanism 25(2A) NA
39 Meeting of independent directors 25(3) & (4) Yes
40 Familiarization of independent directors 25(7) Yes
41 Declaration from Independent Director 25(8) & (9) Yes
42 Directors and Officers insurance 25(10) Yes
43 Confirmation with respect to appointment of Independent Directors who resigned from the listed entity 25(11) NA
44 Memberships in Committees 26(1) Yes
45 Affirmation with compliance to code of conduct from members of Board of Directors and Senior management personnel 26(3) Yes
46 Policy with respect to Obligations of directors and senior management 26(2) & 26(5) Yes
47 Approval of the Board and shareholders for compensation or profit sharing in connection with dealings in the securities of the listed entity 26(6) NA
48 Vacancies in respect Key Managerial Personnel 26A(1) & 26A(2), 26A(3) Yes
Any other information to be provided - Add Notes Textual Information(1)



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Textual Information(1) The fields marked as ' NA' are Not Applicable for the FY 2025-26.



Annexure II
III. Affirmations
Sr Particulars Compliance status (Yes/No/NA)
1 The Listed Entity has approved Material Subsidiary Policy and the Corporate Governance requirements with respect to subsidiary of Listed Entity have been complied Yes
Any other information to be provided Textual Information(1)



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Textual Information(1) The Company does not have any material subsidiary during FY 2025-26.



Annexure II
1 Name of signatory Amruta Avasare
2 Designation Company Secretary and Compliance Officer



Additional Half yearly Disclosure
Any Other Information for Disclosure of Loans / Guarantees / Comfort Letters / Securities Etc.
I. Disclosure of Loans/ guarantees/comfort letters /securities etc.refer note below
(A)Any loan or any other form of debt advanced by the listed entity directly or indirectly to
Entity Aggregate amount advanced during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them 0 0
Promoter Group or any other entity controlled by them 0 0
Directors (including relatives) or any other entity controlled by them 0 0
KMPs or any other entity controlled by them 0 0
(B) Any guarantee / comfort letter (by whatever name called) provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed By
Entity Type (guarantee, comfort letter etc.) Aggregate amount of issuance during six months Balance outstanding at the end of six months(taking into account any invocation)
Promoter or any other entity controlled by them 0 0 0
Promoter Group or any other entity controlled by them 0 0 0
Directors (including relatives) or any other entity controlled by them 0 0 0
KMPs or any other entity controlled by them 0 0 0
(C) Any security provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed by
Entity Type of security (cash, shares etc.) Aggregate value of security provided during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them 0 0 0
Promoter Group or any other entity controlled by them 0 0 0
Directors (including relatives) or any other entity controlled by them 0 0 0
KMPs or any other entity controlled by them 0 0 0
(D) Additional Information
II. Affirmations
Affirmations Compliance Status Company Remarks
All loans (or other form of debt), guarantees, comfort letters (by whatever name called) or securities in connection with any loan(s) (or other form of debt) given directly or indirectly by the listed entity to promoter(s), promoter group, director(s) (including their relatives), key managerial personnel (including their relatives) or any entity controlled by them are in the economic interest of the company. Yes Textual Information(2)
Name Rajesh Gagrani
Designation Chief Financial Officer
Place Mumbai
Date 28-Apr-2026



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Textual Information(3) The Company has not given any loans (or other form of debt), guarantees, comfort letters (by whatever name called) or securities in connection with the loans to promoters, promoter group, directors (including their relatives), KMP (including their relatives) or any entity controlled by them.



Signatory Details
Name of signatory Amruta Avasare
Designation of person Company Secretary and Compliance Officer
Place Mumbai
Date 28-Apr-2026


Investor Grievance Details
No. of investor complaints pending at the beginning of Quarter 0
No. of investor complaints received during the Quarter 5
No. of investor complaints disposed off during the Quarter 5
No. of investor complaints those remaining unresolved at the end of the Quarter 0


Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies-
The details of acquisition of shares or voting rights in unlisted companies during the quarter in terms of sub-para 1 of para A of Part A of Schedule III are given below
Any Other Information for Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies
Sr. No. Name of the unlisted company in which shares or voting rights have been acquired Date of acquisition Aggregate holding (% shares or voting rights) as at the end of the previous quarter % shares or voting rights acquired during the quarter Aggregate holding (% shares or voting rights) as at the end of the quarter


Disclosure of Imposition of Fine or Penalty
The details of imposition of fine or penalty during the quarter in terms of sub-para 20 of para A of Part A of Schedule III are given below:
Any Other Information for Disclosure of Imposition of Fine or Penalty As per SEBI LODR, the disclosure of fine or penalty imposed during the quarter March 31, 2026 which are lower than the monetray threshold limit specified in LODR are reported in this quarterly Corporate Governance Report.
Sr. No. Name of the authority Nature and details of the action(s) taken or order(s) passed Date of receipt of direction or order, including any ad interim or interim orders, or any other communication from the authority Details of the violation(s)/ contravention(s) committed or alleged to be committed Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible
1 Chief Judicial Magistrate, Coimbatore Order was passed by Chief Judicial Magistrate, Coimbatore on 06.03.2026 imposing fine aggregating to Rs. 1,20,000/- (Rs. 40,000/- on factory occupier and Rs. 80,000 on factory manager) for violations under Section 51, Section 54 , Section 59(1), Secion 59(5)(b) rule 78B, Section 62 rule 80, r/w rule 86, Section 112 rule 103, Section 112 rule 103B, Section 83 rule 87 r/w rule 88, Section 112 Rule 103C of the Factories Act, 1948. 06-Mar-2026 Violations under Section 51, Section 54 , Section 59(1), Secion 59(5)(b) rule 78B, Section 62 rule 80, r/w rule 86, Section 112 rule 103, Section 112 rule 103B, Section 83 rule 87 r/w rule 88, Section 112 Rule 103C, all punishable under Section 92 of the Factories Act, 1948. There is no material impact on financials, operations or other activities of the Company.
2 Chief Judicial Magistrate, Haridwar Orders were passed by Chief Judicial Magistrate, Haridwar on 04.02.2026 imposing fine of Rs. 4,00,000/- (Rs. 2,00,000/- on factory occupier and Rs. 2,00,000/- on factory manager) for violations under Section 49, Section 45(4), Section 62 Rule 78, Rule 67, Rule 102, Section 59 r/w Rule 76 and Rule 103 of the Factories Act, 1948. 04-Feb-2026 Violations under Section 49, Section 45(4), Section 62 Rule 78, Rule 67, Rule 102, Section 59 r/w Rule 76 and Rule 103 of the Factories Act, 1948. There is no material impact on financials, operations or other activities of the Company.
3 Judge, Labor Court No. 1, Bharuch Order was passed by Judge, Labor Court No. 1, Bharuch on 14.03.2026 imposing fine of Rs. 36,000/- on factory occupier and the Company for violations under Sections 26(D), 26(2), 22, 21(4), 26(4), 26(1), 26(3), 26(5), 19(4) of the Minimum Wages Act, 1948. 14-Mar-2026 Violations under Sections 26(D), 26(2), 22, 21(4), 26(4), 26(1), 26(3), 26(5), 19(4) of the Minimum Wages Act, 1948. There is no material impact on financials, operations or other activities of the Company.
4 Judge, Labor Court No. 1, Bharuch Order was passed by Judge, Labor Court No. 1, Bharuch on 14.03.2026 imposing fine of Rs. 2,000/- on factory occupier and the Company for violations under Section 74 and Section 18(3) of the Contract Labour (Regulation and Abolition) Act, 1970 and the Contract Labour (Regulation and Abolition) (Gujarat) Act, 1972. 14-Mar-2026 Violations under Section 74 and Section 18(3) of the Contract Labour (Regulation and Abolition) Act, 1970 and the Contract Labour (Regulation and Abolition) (Gujarat) Act, 1972. There is no material impact on financials, operations or other activities of the Company.
5 The State Goods and Services Tax (CGST) Department, Government of India Agency/Tribunal: Deputy Commissioner of State Goods and Service Tax, Jabalpur, Madhya Pradesh Order was passed by the Deputy Commissioner of State Goods and Service Tax, Jabalpur, Madhya Pradesh on March 10, 2026 imposing demand of Rs. 65,375/- (Tax demand – Rs. 2,590/-, Interest – Rs. 40,195/- & Penalty - Rs. 22,590/-) under section 74 of the Central GST Act, 2017 & SGST Act, 2017 and IGST Act, 2017. 10-Mar-2026 Violations under Section 74 of the Central GST Act, 2017 & SGST Act, 2017 and IGST Act, 2017 There is no material impact on financials, operations or other activities of the Company.


Disclosure of Updates to Ongoing Tax Litigations or Disputes
The updates on tax litigations or disputes in terms of sub-para 8 of para B of Part A of Schedule III read with corresponding provisions of Annexure 18 of the Master Circular are given below:

Any Other Information for Disclosure of Updates to Ongoing Tax Litigations or Disputes 1. Current Status of the litigation/ disputes is reported as on March 31, 2026 2. Only those Ongoing tax litigations/ disputes having updates during the quarter ended March 31, 2026 are reported in this Corporate Governance Report.
Sr. No. Name of the opposing party Date of initiation of the litigation / dispute Status of the litigation / dispute as per last disclosure Current status of the litigation / dispute
1 The State Goods and Services Tax (SGST) Department, Government of India. Agency/Tribunal: Deputy Commissioner of State Goods and Service Tax, Jabalpur Division, Madhya Pradesh 30-May-2025 Order was passed by Deputy Commissioner of State Tax, Jabalpur on December 29, 2025 wherein erstwhile demand of Rs. 8,26,59,694/- (Tax demand - Rs. 2,58,31,923/-, Interest - Rs. 3,09,95,848/- & Penalty - Rs. 2,58,31,923/-) has been reduced by Rs. 8,26,07,908/- (Tax demand - Rs. 2,58,31,923/-, Interest - Rs. 3,09,94,062/- & Penalty - Rs. 2,57,81,923/-). Hence, there is no tax demand and the Interest of Rs. 1,786/- and Penalty of Rs. 50,000/- as per the order will be paid by the Company. The Company has paid the Interest and Penalty amount of Rs. 51,786/- on 19.01.2026.
2 The Central Goods and Services Tax (GGST) Department, Government of India. Agency/Tribunal: Superintendent of Central Goods and Service Tax, Ranchi, Jharkhand 25-Jun-2025 Order was passed by Deputy Commissioner CGST, Ranchi on December 31, 2025 wherein Tax demand including interest has been reduced by Rs. 1,45,07,654/- and thus, the tax demand including interest of Rs. 2,11,47,871/- now stands reduced to Rs. 66,40,217/- (Tax demand - Rs. 66,22,498/- & Interest - Rs. 17,719/-) under section 74 & Section 50 of the Central GST Act, 2017 & SGST Act, 2017 and IGST Act, 2017. Further, the penalty of Rs. 2,11,28,933/- has been imposed. The Company is planning to contest the said order for the total demand including interest & penalty of Rs. 2,77,69,150/-. Appeal has been filed before GST Appeals (GST Appellate Authority) on March 30, 2026 against the order passed by Deputy Commissioner CGST, Ranchi
3 The Central Goods and Services Tax (CGST) Department, Government of India. Agency/Tribunal: Assistant Commissioner of Central Goods and Service Tax, Roorkee, Uttarakhand 23-Sep-2025 Request letter for extension to file reply was filed on October 21, 2025 with Assistant Commissioner, CGST Division. The final reply was filed on November 18, 2025. On December 23, 2025, order was passed by CGST, Roorkee wherein Tax demand has been reduced by Rs. 1,23,01,446/- and thus, the tax demand of Rs. 1,73,07,714/- now stands reduced to Rs. 50,06,268/- (IGST Rs. 47,80,402/-, + CGST Rs. 1,12,933/- + SGST Rs. 1,12,933/-) under Section 73(9) of the CGST Act, 2017/ UKGST Act, 2017 read with Section 20 of IGST Act, 2017. Further, penalty of Rs. 5,18,043/- has been imposed and the Company is planning to contest the said order for the tax demand of Rs. 50,06,268/- and penalty Appeal has been filed before GST Appeals (GST Appellate Authority) on March 20, 2026 against the order passed by Assistant Commissioner CGST, Roorkee
4 The State Goods and Services Tax (CGST) Department, Government of India. Agency/Tribunal: Deputy Commissioner of State Goods and Service Tax, Balasore, Odisha 29-Sep-2025 Request letter for extension to file reply was filed on October 24, 2025 with Deputy Commissioner of State Tax. Final reply was filed on December 30, 2025. On December 31, 2025, Deputy Commissioner of State Goods and Service Tax, Balasore, Odisha passed order wherein the total demand of Rs. 56,06,00,928/- (includes tax, interest & penalty) now stands reduced to Rs. 69,10,068/- (Tax demand - Rs. 39,13,383/-, Interest - Rs. 26,05,347/- & Penalty - Rs. 3,91,338/-) under section 73 of the Central GST Act, 2017 & SGST Act, 2017 and IGST Act, 2017.The Company is planning to contest the said order for the total demand of Rs. 69,10,068/-. Appeal has been filed before GST Appeals (GST Appellate Authority) on March 27, 2026 against the order passed by Deputy Commissioner SGST, Balasore
5 The Central Goods and Services Tax (CGST) Department, Government of India. Agency/Tribunal: Assistant Commissioner (Anti Evasion) of Central Goods and Service Tax, Commissionerate Dehradun, Uttarakhand. 26-Jun-2025 On December 23, 2025, the order was passed by CGST, Roorkee wherein the Tax demand has been reduced by Rs. 47,81,459/- and thus, the tax demand of Rs. 63,85,585/- now stands reduced to Rs. 16,04,126/- under Section 74 & Section 122 of CGST / UK GST Act, 2017. Further, the penalty has been reduced by Rs. 25,37,410/- and thus, the Penalty of Rs. 41,41,536/- now stands reduced to Rs. 16,04,126/- under Section 74 & Section 122 of CGST / UK GST Act, 2017.The Company is planning to contest the said order for the tax demand of Rs. 16,04,126/- and penalty of Rs. 16,04,126/-. Appeal has been filed before GST Appeals (GST Appellate Authority) on March 20, 2026 against the order passed by Assistant Commissioner CGST, Roorkee
6 The State Goods and Services Tax (CGST) Department, Government of India Agency/Tribunal: Deputy Commissioner of State Goods and Service Tax, Jabalpur, Madhya Pradesh 30-Sep-2025 The reply was filed on November 29, 2025 and awaiting for the appropriate order to be passed by the authority. The Company has received an order from the Deputy Commissioner of State Goods and Service Tax, Jabalpur, Madhya Pradesh on March 10, 2026. Pursuant to the said order, the Tax demand including interest & penalty has been reduced by Rs. 3,65,16,071/- and thus, the tax demand including interest & penalty of Rs. 3,65,81,446/- now stands reduced to Rs. 65,375/- (Tax demand – Rs. 2,590/-, Interest – Rs. 40,195/- & Penalty - Rs. 22,590/-) under section 74 of the Central GST Act, 2017 & SGST Act, 2017 and IGST Act, 2017. The said demand (including interest and penalty) of Rs. 65,375/- has been paid by the Company on 23.03.2026.
7 The State Goods and Services Tax (CGST) Department, Government of India Agency/Tribunal: Deputy Commissioner of State Goods and Service Tax, Jabalpur, Madhya Pradesh 27-Jan-2026 The Show Cause Notice raises the following major concerns: a)Excess ITC claimed in GSTR 3B as compared with GSTR 2A /2B. b)Availed ineligible /Blocked ITC. c)Short GST paid under RCM. d)Non-payment of interest. e)Non-payment of GST towards difference between Outward E-way Bill liability and liability as per GSTR 3B f)Non-reversal of ITC towards Retention Money The GST Department has raised objections as stated above by the Company for the financial Year 2022- 23, amounting to Rs. Tax demand Rs. 80,95,982/-, Interest under section 50 Rs. 43,71,829/-, Penalty Rs. 8,09,598/-. Total Rs. 1,32,77,409/- The reply was filed on February 26, 2026 and awaiting for the appropriate order to be passed by the authority.