The Board of Directors of the Company hereby present the Fifty-third (53^rd) Annual Report together with the Audited Financial Statements (Standalone and Consolidated) of the Company for the year 2025-26.

1. COMPANY SPECIFIC INFORMATION1.1 FINANCIAL SUMMARY AND HIGHLIGHTS

The summarized financial results (Consolidated) of the Company are as follows:-

1.3 DIVIDEND

As per the Dividend policy of the company and considering the profitability and financial position of the company and with a view to reward its Members for showing faith in the management, the Board of Directors recommended its maiden Final Dividend @ 20% i.e., Rs. 2/- per equity share of face value of Rs. 10/- each, subject to approval of the Shareholders at the ensuing 53^rd Annual General Meeting. the said dividend pay-out is in compliance with the applicable Secretarial Standard -3 (SS-3) on Dividend issued by the Institute of Company Secretaries of India (ICSI).

1.4 MAJOR EVENTS OCCURRED DURING THE YEAR

An explosion and fire incident occurred at the Aluminium Powder plant in Umred in April, 2025. The incident took place in the post-production area, not in the main production zone. It caused significant damage to the building and parts of the post-production machinery. Additionally, Aluminium Powder stock was destroyed in the finished goods (FG) godown and partially damaged in the work-in-progress (WIP) section.

Tragically, the incident resulted in 7 fatalities and 4 injuries. The company promptly announced and disbursed monetary compensation to the families of the deceased and the injured.

Production of Powder division at the Umred facility was halted for nearly 50 days. the total estimated loss resulting from the accident amounts to ?17.29 Crs.

a) STATE OF COMPANY’S AFFAIRS

The overall performance of the respective divisions of the Company during the FY 2025-26 are provided hereunder: ALUMINIUM POWDERS

The Aluminium Powders division delivered resilient performance during FY26, with revenue growing 21% YoY in Q4FY26 and 15% for the full year, despite the operational disruption during Q1FY26. Growth was driven by healthy domestic demand, improved exports, and higher value product mix along with better realisations.

ALUMINIUM FOILS

The Aluminium Foils segment delivered strong performance during FY26, with revenue growing 14% YoY in Q4FY26 and 39% YoY for the full year, driven by healthy volume growth and better realisations. Margin performance improved both YoY and QoQ during the year, supported by higher capacity utilisation, operational efficiencies, and improved pricing.

ALUMINIUM CONDUCTORS & CABLES

The Aluminium Conductors and Cables division recorded revenue growth of 13% QoQ in Q4FY26 and 3% for the full year FY26, supported by sustained demand across the electrical infrastructure sector.

FUTURE PLANS / PROSPECTS:-Aluminium Powders

Looking ahead to Q1/H1FY27, the major export enquiries have been from West Asia, Europe and the US and we expect a 50 % increase in Exports in FY 27 with higher margins than in the domestic markets. Elevated aluminium prices and continued inflation across oil derivatives, chemicals, and packaging materials continue to impact customer buying sentiment, while export order conversions have moderated amid global macroeconomic uncertainty and raw material price volatility.

The Company expects demand conditions to improve gradually as raw material prices stabilise. Supported by a diversified customer base, healthy export presence across multiple geographies, and continued focus on operational efficiencies, the Company remains confident of delivering FY27 revenue growth of ~13 to 15% along with improvement in EBITDA margins.

Aluminium Foils

While elevated foil stock prices linked to higher aluminium prices have created near term pressure on bare foil and allied product demand, the Company believes the current demand environment to be temporary. The MMP brand continues to command strong preference within the pharmaceutical sector, supported by consistent product quality and long standing customer relationships.

Value added printed foil capacity utilisation increased significantly during the year, driven by strong customer acceptance across both existing and new clients. Despite continued competitive intensity and surplus industry capacities, the Company expects meaningful improvement in EBITDA margins both YoY and QoQ, supported by better product mix and operating leverage.

Development of Security Printing and Lidding Foil products in collaboration with leading pharmaceutical customers is progressing well. Both product launches are expected by early Q3FY27 with minimal incremental capital expenditure and are expected to contribute meaningfully towards value addition and margin improvement.

Supported by strong positioning within the pharmaceutical packaging segment and improving operational efficiencies, the Company expects the Aluminium Foils business to deliver 15% YoY growth in FY27.

Aluminium Conductors and Cables

Execution across government linked electrical infrastructure projects continued during the year; however, prolonged payment cycles and elevated metal prices continued to impact buying sentiment and project execution. Demand for Aerial Bunched Cables (ABC) remained affected due to slower execution of government projects, while bare conductor offtake was impacted by elevated aluminium prices.

The Company has received BIS approval for AL59 bare conductors, a category currently witnessing strong industry demand, and expects meaningful traction in this segment beginning H1FY27.

As previously communicated, the strategic pilot initiative for LT cables at the Bhandara facility remains on track, with product launch happened in July 2026.

b) CHANGE IN NATURE OF BUSINESS

During the year, the Company incorporated two wholly owned subsidiaries, namely MMP Cables Private Limited and MMP Alutech Private Limited, to strengthen business integration. However, there was no change in the nature of business of the Company.

d) MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY HAVING OCCURRED SINCE THE END OF THE YEAR AND TILL THE DATE OF THE REPORT

During the FY 2025-26 under review, an explosion and fire incident occurred at the Aluminium Powder plant in Umred in April, 2025.

The temporary operational disruption at the Umred manufacturing facility during Q1FY26 impacted the Aluminium Powder and Foil segments, resulting in an estimated Revenue loss of ?45 to ?50 Cr and exerting pressure on gross margins and EBITDA during the period. The net EBITDA impact from the incident is estimated at ?7 to ?8 Cr.

Excluding the impact of the incident, the net positive contribution to PAT would have been ?11 to ?12 Cr. Operations normalised during the subsequent quarters, and accordingly, FY26 profitability would have been materially higher excluding the impact of the incident.

1.5 DETAILS OF REVISION OF FINANCIAL STATEMENT OR THE REPORT

There is no occasion whereby the Company has either revised or required to revise the Financial Statement or the Board’s Report of the Company for any period prior to the FY 2025-26. As such, no specific details are required to be given or provided.

2. GENERAL INFORMATION OVERVIEW OF THE INDUSTRY

The details discussion on the overview of the industry is covered under Management Discussion and Analysis which forms part of this report.

ECONOMIC OUTLOOK

The details discussion on the Global Economic outlook is covered under Management Discussion and Analysis which forms part of this report

3. CAPITAL AND DEBT STRUCTURE

During the FY 2025-26 under review, there was no change in the capital structure of the Company. The existing capital Structure of the Company is as follows:

Further, the Company has neither issued any convertible or non-convertible securities, debentures, bonds, warrants, shares with differential voting rights as to dividend, voting or otherwise, nor issued or granted ESOP, stock option, sweat equity during the FY 2025-26.

4. CREDIT RATING OF SECURITIES

During the FY 2025-26 under review, the Company has neither issued nor required to obtain credit rating of its securities. As such, no specific details are required to be given or provided.

CREDIT RATING FOR DEBT

CRISIL in their review for total credit facilities, has maintained the credit rating of the Company that of the previous year. The details of credit rating assigned to the Company for its credit facilities are given below: -

5. INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

During the FY 2025-26 under review, there were no amounts which is required to be transferred to the Investor Education and Protection Fund by the Company. As such, no specific details are required to be given or provided.

6. MANAGEMENT6.1 DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)

The changes amongst the Directors including Executive Directors and Key Managerial Personnel during the period are as follows: -

(A) CHANGES AMONGST THE PROMOTER DIRECTORS

Ms. Rohini Bhandari was appointed as Additional Director- Non Executive on 8^th August, 2025. Apart from this, there were no other changes that took place amongst the Promoter, Directors of the Company during the FY 2025-26.

(B) CHANGES AMONGST THE EXECUTIVE DIRECTORS

No changes took place amongst the Non-Promoter, Executive Directors of the Company during the FY 2025-26.

(C) CHANGES AMONGST KEY MANAGERIAL PERSONNEL (KMP)

There are no changes in Key Managerial Personnel during FY 2025-26.

As such, Mr. Arun Raghuvirraj Bhandari, [DIN - 00008901], Managing Director, [Category - Promoter & Executive], Mr. Lalit Bhandari, [DIN - 00010934], Whole-time Director, [Category - Promoter & Executive], Mr. Tenneti Narasimham Murthy, [DIN - 08342116], Whole-time Director, [Category - Non-Promoter & Executive], Mr. Mayank Arun Bhandari, [01176865] Non-Executive Director (Category - Promoter, Non-Executive), CA Sharad Mohanlal Khandelwal, Chief Financial Officer of the Company, and Ms. Madhura Singh, Company Secretary and Compliance Officer continued to act as the Key Managerial Personnel (KMP) of the Company, pursuant to the provisions of Section 203 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (as amended).

(D) DIRECTOR RETIREMENT BY ROTATION

Pursuant to the provisions of Section 152 of Companies Act, 2013 read with the Companies (Appointment and Qualification of Directors) Rules, 2014 (as amended), Mr. Mayank Bhandari, [DIN - 01176865], Non Executive Director, Category -Promoter, of the Company, retires by rotation and being eligible, offers himself for re-appointment. The Board recommends his re-appointment as a Director [Category - Non-Executive] of the Company, in the interest of the Company.

The Company has received the self-declarations from all the Executive Directors of the Company, to the effect that he (i) was or is not disqualified from being appointed and/or continued to act, as a Director of the Company in terms of the provisions of Section 164 of the Companies Act, 2013; and (ii) was or is not debarred from holding the office of a Director pursuant to any order of the SEBI or such other authority in terms of SEBI’s Circular No. LIST/ COMP/14/2018-19 dated 20th June 2018 on the subject “Enforcement of SEBI Orders regarding appointment of Directors by listed companies”

The information (details) of Directors of seeking appointment / re-appointment at the Fifty Third (53^rd) Annual General Meeting of the Company, pursuant to Regulation 26(4) and 36(6) of the Listing Regulations and Secretarial Standards on General Meetings (SS-2) is annexed to the Notice convening the Fifty Third (53^rd ) Annual General Meeting of the Company.

6.2 INDEPENDENT DIRECTORSCHANGES AMONGST THE INDEPENDENT DIRECTORS

Mr. Sachin Nirgudkar [DIN - 06890618] was appointed as Non-Executive, Independent Director and Mr. Karan Yud-hishtir Varma, [DIN - 06923525] resigned on 8^th August, 2025.

Mr. Vijay Singh Bapna [DIN - 02599024] and Mr. Sunil Khanna, [DIN - 00907147] have been appointed as a Director [Category - Non-executive, Independent] for a Second fixed term of consecutive Five (5) years i.e., from the conclusion of Forty-Eighth (48th) Annual General Meeting up to the conclusion of Fifty-Third (53rd) Annual General Meeting of the Company to be held for the financial year 2025-26 ending 31st March 2026, Both of them Resigned from directorship wef. 10^th August, 2026. Mr. Raj Sethia [DIN - 03203265] and Dr. Sanjay Arora [DIN - 08518801] were appointed on 10^th August, 2026.

Mr. Sanjay Sacheti [DIN: 00271310], Ms. Ulka Kulkarni, [DIN - 07085469], continued as the Directors [Category -Non-executive, Independent] of the Company during the year under review.

6.3 DECLARATION BY INDEPENDENT DIRECTORS AND STATEMENT ON COMPLIANCE OF CODE OF CONDUCT

The Company has received the self-declarations from all the Independent Directors of the Company, to the effect that he / she (i) meets the criteria of independence as provided in Section 149(6) of the Act and Regulation 16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) [“Listing Regulations”] and also, duly complied with Code of Conduct prescribed in Schedule IV to the Act; (ii) was or is not disqualified from being appointed and/or continued to act, as a Director of the Company in terms of the provisions of Section 164 of the Companies Act, 2013; and (ii) was or is not debarred from holding the office of a Director pursuant to any order of the SEBI or such other authority in terms of SEBI’s Circular No. LIST/COMP/14/2018-19 dated 20^th June 2018 on the subject “Enforcement of SEBI Orders regarding appointment of Directors by listed companies”.

The Company has received the self-declarations from all the Directors and Senior Management Personnel of the Company, as to the due compliance of Company’s Code of Conduct. As such, the Company do hereby confirm that the Company has duly complied with the Company’s Code of Conduct namely (i) MMP Code for Prohibition of Insider Trading and MMP Code of Fair Disclosure, and (ii) MMP Code of Business Principles and Conduct.

6.4 BOARD MEETINGS

Six (6) meetings of the Board of Directors of the Company were held during the FY 2025-26 under review, on (1) 27^th April, 2025 (2) 23^rd May, 2025 (3) 8^th August, 2025 (4) 7^th November, 2025 (5) 13^th February 2026 and (6) 27^th March 2026.

6.5 COMMITTEES

The Company has constituted all the requisite Committee(s) of the Board, namely Audit Committee, Nomination & Remuneration Committee, Stakeholders’ Relationship Committee, Corporate Social Responsibility (CSR) Committee, Share Transfer Committee, Risk Management Committee and Project Monitoring Committee, pursuant to the provisions of the Companies Act, 2013 read with the rules made there under and Listing Regulations. The details of its constitution, objective or terms of reference and other related information has been provided under the Corporate Governance Report, which forms part and parcel of the Board’s Report.

6.6 RECOMMENDATIONS OF AUDIT COMMITTEE

There is no occasion wherein the Board of Directors of the Company has not accepted any recommendations of the Audit Committee of the Company during the FY 2025-26. As such, no specific details are required to be given or provided.

6.7 COMPANY’S POLICY ON DIRECTOR’S APPOINTMENT AND REMUNERATION

The Company’s policy on Director’s appointment and remuneration and such other related information has been provided under the Corporate Governance Report, which forms part and parcel of the Board’s Report.

6.8 BOARD EVALUATION

The Company’s policy on Board Evaluation and such other related information has been provided under the Corporate Governance Report, which forms part and parcel of the Board’s Report.

6.9 REMUNERATION OF DIRECTORS AND EMPLOYEES OF LISTED COMPANIES

The information required under Section 197 of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (as amended) will be available at Corporate office of the company on the day of Annual General Meeting.

6.10 REMUNERATION RECEIVED BY MANAGING / WHOLE TIME DIRECTOR FROM HOLDING OR SUBSIDIARY COMPANY

The Company has following Subsidiary Companies:

1. MMP Electricals Private Limited incorporated on 24^th September, 2024

2. MMP Cables Private Limited incorporated on 6^th June, 2025

3. MMP Alutech Private Limited incorporated on 16^th June, 2025

6.11 DIRECTORS’ RESPONSBILITY STATEMENT The Board of Directors confirms: -

(i) That in the preparation of the Annual Accounts (Financial Statements), the applicable Accounting Standards had been followed along with proper explanation, relating to material departures;

(ii) That the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profits of the Company for that financial year;

(iii) That the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(iv) That the Directors had prepared the Annual Accounts (Financial Statements) on going concern basis;

(v) That the Directors had laid down internal financial controls to be followed by the Company and that such internal financial controls were adequate and operating effectively; and

(vi) That the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and regulations and that such systems were adequate and operating effectively.

6.12 INTERNAL FINANCIAL CONTROLS

M/s Manish N. Jain & Company, Chartered Accountants, Nagpur, the Statutory Auditors of the Company, has reviewed and accordingly, issued their Report on the Internal Financial Controls over the Financial Reporting, in terms of Clause (i) of Sub-section 3 of Section 143 of the Act, which is annexed as an ‘Annex - B’ to the Independent Auditors’ Report of the Company. The Report on the Internal Financial Controls over the Financial Reporting for the FY 2025-26 do not contain any qualification or adverse remarks. The observations made by the Statutory Auditors in their report are selfexplanatory and have also been further amplified in the notes to the financial statements and as such, do not call for any explanations.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has in place adequate internal control systems and procedures commensurate with the size and nature of business. These procedures are designed to ensure:-

(a) that all assets and resources are used efficiently and are adequately protected;

(b) that all the internal policies and statutory guidelines are complied with; and

(c) the accuracy and timeliness of financial reporting and management information is maintained.

6.13 FRAUDS REPORTED BY AUDITOR During the FY 2025-26 under review:-

(a) no fraud occurred, noticed and/or reported by the Statutory Auditors under Section 143(12) of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014 (as amended);

(b) the observations made by the Statutory Auditors on the financial statements including the affairs of the Company are self-explanatory and do not contain any qualification, reservation, adverse remarks or disclaimer thereof.

As such, no specific information, details or explanations required to be given or provided by the Board of Directors of the Company.

7. DISCLOSURES RELATING TO SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES7.1 REPORT ON PERFORMANCE AND FINANCIAL POSITION OF THE SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES

MMP Electricals Private Limited [MEPL] - WOS

Ý Phase II capacity at MEPL is now fully operational, with only minor balancing equipment expected to be added over the near term at limited capital expenditure.

Ý A key milestone during the year was the successful in house development of the FRP rod manufacturing line, a critical component used in polymer insulators. This has reduced dependence on external sourcing while strengthening quality control, product reliability, and overall manufacturing integration.

Ý On the export front, commercial supplies to Nepal have commenced, while discussions with prospective customers in the United States are progressing positively.

Ý With vendor registrations and product validations expected to conclude over the coming months, the Company remains well positioned to capitalise on emerging opportunities across the transmission infrastructure segment. MEPL is expected to witness meaningful sales ramp up from Q3FY27 onwards, with healthy margin potential supporting overall profitability.

MMP Cables Private Limited [MCPL] - WOS

• Construction of the 18,000 MTPA aluminium wire rod facility is progressing as planned, with all major machinery,

electricals, and utilities already ordered. Civil works are currently underway, while initial machinery installation is expected to commence from July 2027. Hiring activities have also commenced, with plant trials anticipated during H2FY27.

• The facility is expected to strengthen backward integration across the Company’s Conductors, ABC, and LT Cable businesses by improving supply chain integration, reducing dependence on external suppliers, and supporting margin improvement across downstream products. In addition to internal consumption, the project is also expected to generate standalone revenue opportunities.

MMP ALUTECH PRIVATE LIMITED [MAPL] - WOS- The company is not functional yet.

STAR CIRCLIPS AND ENGINEERING LIMITED (‘SCEL’)

Ý Q4FY26 Revenue of t 518 Mn (Q4FY25: t 413 Mn) and full-year Revenue of t 1,930 Mn (FY25: t 1,662 Mn)

Ý PAT stood at t 76 Mn in Q4 FY26 (Q4FY25: t 67 Mn) and t 285 Mn for FY26 (FY25: t 218 Mn)

TOYAL MMP INDIA PRIVATE LIMITED (TMI)

Ý Q4FY26 Revenue of t 218 Mn (Q4FY25: t 148 Mn) and full-year revenue of t 743 Mn (FY25: t 609 Mn)

Ý PAT was t 5 Mn in Q4FY26 (Q4FY25: t -15 Mn) and t 30 Mn for FY26 (FY25: t 18 Mn)

7.2 COMPANIES WHICH HAVE BECOME OR CEASED TO BE SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES

During the FY 2025-26 under review, the Company is Holding Company to following companies:

1. MMP Electricals Private Limited - from 24^th September, 2024 [CIN - U23934MH2024PTC432604]

2. MMP Cables Private Limited - from 6^th June, 2025 [CIN - U27310MH2025PTC450153]

3. MMP Alutech Private Limited - from 16^th June, 2025 [CIN - U27320MH2025PTC450616 ]

Also, Star Circlips & Engineering Limited [CIN - U 24110 MH 1974 PLC 017301] and TOYAL MMP India Private Limited [CIN - U 36990 MH 2016 FTC 281521] were continued to be the Associate Companies of the Company during the FY 2025-26.

8. DETAILS OF DEPOSITS

During the FY 2025-26 under review, the Company has neither invited nor accepted any public deposits within the meaning of Section 73 and 74 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014 (as amended). As such, no specific details prescribed in Rule 8(1) of the Companies (Accounts) Rules, 2014 (as amended) are required to be given or provided.

9. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

During the FY 2025-26 under review, the Company has secured guarantees in connection with the loans availed by and MMP Electricals Private Limited and MMP Cables Private Limited. However, not made any investments pursuant to the provisions of Section 185 and 186 the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 (as amended). As such, no specific details are required to be given or provided as the guarantee was within limits prescribed under Section 185 and 186 the Companies Act, 2013.

10. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

The details of contracts or arrangements or transactions not at arm’s length basis and/or the details of contracts or arrangements or transactions at arm’s length basis for the FY 2025-26 in the prescribed Form No. AOC - 2 pursuant to Clause (h) of Sub-section (3) of Section 134 of the Companies Act, 2013 read with Rule 8(2) of the Companies (Accounts) Rules, 2014 (as amended) are given in the Annex - B, which forms part and parcel of the Board’s Report.

11. CORPORATE SOCIAL RESPONSIBILITY (CSR)

The Company believes in the Corporate Social Responsibility as an integral part of its business. Education specifically Education for Girls, Women, Poor, Under-privileged or Disabled (Divyang), Special Education, Research, Training & Skill Development, Environment, Health, Drinking Water, Rural Development, are some of the most critical problems that our country has been facing for years. One of the most effective direct and indirect solutions to solve these is an education, but a great number of people cannot afford to get themselves educated.

Keeping this in mind, the Board of Directors through its CSR Committee has implemented certain CSR projects either directly or through implementing agency nominated by the CSR Committee of the Company. All the activities and programmes covered under CSR are being monitored and implemented by the CSR Committee of the Company. The

Company does confirm that the Company is in due compliance of the provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014. The CSR Projects of the Company are in accordance with the provisions of Section 135 of, Schedule VII to, the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 and the Company’s CSR Policy. The Annual Report on the CSR Activities for the FY 2025-26 is given in the Annex - C, which forms part and parcel of the Board’s Report.

12. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars relating to energy conservation, technology absorption, foreign exchange earnings and outgo, for the FY 2025-26 as required to be disclosed under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 are given in the Annex - D to this report.

13. RISK MANAGEMENT

The Company has a Risk Management framework in place to identify, assess, monitor and mitigate various risks to its business. It has framed the Risk Management Plan and adopted in its Risk Management Policy.

The Board of Directors based on the recommendations of the Risk Management Committee of the Company, periodically reviews the Company’s risk assessment and minimization procedures to ensure that management identifies and controls risks through a properly defined framework. The details of the Risk Management Committee and its terms of reference are set out in the Corporate Governance Report forming part of this Report.

14. DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has a Whistle Blower Policy to report genuine concerns or grievances and to provide adequate safeguards against victimization of persons who is using this platform and direct access to the Chairman of the Audit Committee is also available in exceptional cases. The detailed objectives of the policy are given in Corporate Governance Report which forms part of this report. This Whistle Blower Policy is applicable to all the Directors, employees, vendors and customers of the Company and it is also posted on the Website of the Company.

15. MATERIAL ORDERS OF JUDICIAL BODIES OR REGULATORS

During the FY 2025-26 under review, no significant and material order is passed by any of the Regulators or Courts or Tribunals impacting the going concern status and Company’s operations in future. As such, no specific details are required to be given or provided.

16. AUDITORS(A) STATUTORY AUDITORS AND THEIR REPORT

The Shareholders (Members) of the Company, at their Forty-ninth (49th) Annual General Meeting of the Company held on 29^th August 2022, were appointed M/s Manish N. Jain & Co., Chartered Accountants, Nagpur [ICAI Firm Registration No. 138430W, Peer Review Certificate No. 010231], as the Statutory Auditors of the Company to hold office from the conclusion of 49^th Annual General Meeting held for the financial year 2021-22 ended 31st March 2022 till the conclusion of 54^th Annual General Meeting of the Company to be held for the financial year 2026-2027 ending 31st March 2027.

The Auditors’ Report submitted by M/s Manish N. Jain & Co., Chartered Accountants, Nagpur, [ICAI Firm Registration No. 138430W, Peer Review Certificate No. 010231], the Statutory Auditors of the Company to the Shareholders (Members) for the FY 2025-26 do not contain any qualification. The observations made by the Statutory Auditors in their report are self-explanatory and have also been further amplified in the Notes to the financial statements and as such, do not call for any explanations.

(B) SECRETARIAL AUDITORS

M/s. Vaibhav Jachak & Co, Company Secretaries, Nagpur [ICSI Membership No. FCS-8821 & Certificate of Practice No. 18495], have furnished a Certificate of their consent, qualification and eligibility and also, have confirmed about their not being disqualified for the appointment including re-appointment as the Secretarial Auditors of the Company for the term of five years starting from FY 2025-26.

Accordingly, the Board of Directors, on the recommendations of the Audit Committee, of the Company, has approved and appointed, M/s. Vaibhav Jachak & Co, Company Secretaries, Nagpur [ICSI Membership No. FCS-8821 & Certificate of Practice No. 18495], as the Secretarial Auditors of the Company for the FY 2025-26 to 202930. Pursuant to Regulation 24A(1)(b) of SEBI (LODR) Regulations, 2015. However, Shareholders’ approval will be sought at the ensuing Annual General Meeting, which will be obtained in ensuing Annual General Meeting.

(C) COST AUDITORS

M/s Deepak Khanuja & Associates, Cost Accountants, Nagpur, [Firm Registration No. 100247] have furnished a Certificate of their eligibility for appointment pursuant to Section 141(3)(g) and 148(5) of the Companies Act,

2013 read with the rules made there under, Certificate for independence and arms’ length relationship with the Company and have confirmed about their not being disqualified for such appointment including re-appointment within the meaning of Section 141(3) of the Companies Act, 2013.

Pursuant to the provisions of Section 148 of the Companies Act 2013, the Board of Directors, on the recommendations of the Audit Committee, of the Company, has approved and appointed, Deepak Khanuja & Associates, Cost Accountants, Nagpur, [Firm Registration No. 100247], as the Cost Auditors of the Company, for the FY 2026-27 and has also recommended their remuneration to the Shareholders (Members) for their ratification at the ensuing 53^rd Annual General Meeting of the Company.

(D) INTERNAL AUDITORS

Pursuant to the provisions of Section 138 of the Companies Act, 2013 read with the Companies (Accounts) Rules,

2014 (as amended), the Board of Directors, on the recommendations of the Audit Committee, of the Company, has approved and appointed M/s Nitin Alshi & Associates, Chartered Accountants, Nagpur, as the Internal Auditors of the Company, for the FY 2025-26.

The Internal Audit Findings and Reports submitted by the said Internal Auditors, from time to time, during the FY 2025-26, to the Audit Committee and Board of Directors of the Company, do not contain any adverse remarks and qualifications, is self-explanatory and do not call for any further explanations by the Company.

Further, the Company has appointed M/s Nitin Alshi & Associates, Chartered Accountants, Nagpur as the Internal Auditors of the Company of FY 2026-27.

17. SECRETARIAL AUDIT REPORT

The Secretarial Audit Report in Form No. MR-3 submitted by M/s. Vaibhav Jachak & Co, Company Secretaries, Nagpur [ICSI Membership No. FCS-8821 & Certificate of Practice No. 18495], the Secretarial Auditors of the Company, do not contain any adverse remarks and qualifications, is self-explanatory and do not call for any further explanations by the Company. The Secretarial Audit Report in Form No. MR-3 submitted by the said Secretarial Auditors of the Company, for the FY 2025-26, is attached herewith as an Annex - E and forms part and parcel of the Board’s Report.

18. EXPLANATIONS IN RESPONSE TO AUDITORS’ QUALIFICATIONS

The Audit Reports submitted by the Statutory Auditors, Secretarial Auditors, Cost Auditors and Internal Auditors of the Company, for the FY 2025-26 do not contain any qualification or adverse remarks. The observations made by all the Auditors in their respective Reports are self-explanatory and as such, do not call for any explanations.

19. COMPLIANCE WITH SECRETARIAL STANDARDS

The Board of Directors confirms that the Company, has duly complied and is in compliance, with the applicable Secretarial Standards, namely Secretarial Standard - 1 (‘SS-1’) on Meetings of the Board of Directors and Secretarial Standard - 2 (‘SS-2’) on General Meetings, during the FY 2025-26.

20. CORPORATE INSOLVENCY RESOLUTION PROCESS INITIATED UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (IBC)

During the FY 2025-26 under review, no such event occurred by which Corporate Insolvency Resolution Process can be initiated under the Insolvency and Bankruptcy Code, 2016 (IBC). As such, no specific details are required to be given or provided.

21. FAILURE TO IMPLEMENT ANY CORPORATE ACTION

During the FY 2025-26 under review, there is no occasion wherein the Company failed to implement any Corporate Action. As such, no specific details are required to be given or provided.

22. ANNUAL RETURN

The Annual Return of the Company as on 31st March, 2026 in Form MGT - 7 in accordance with Section 92(3) of the Act read with the Companies (Management and Administration) Rules, 2014, is available on the website of the Company at www.mmpil.com.

23. OTHER DISCLOSURES(A) AUDITED FINANCIAL STATEMENTS - STANDALONE & CONSOLIDATED

For the FY 2025-26 under review, the Company has prepared the audited financial statements on standalone as well as consolidated basis after incorporating the share of profit or loss from its associate and joint-venture companies namely Star Circlips & Engineering Limited and TOYAL MMP India Private Limited and wholly owned subsidiary MMP Electricals Private Limited, MMP Cables Private Limited and MMP Alutech Private Limited.

(B) MATERIAL DEVELOPMENT IN HUMAN RESOURCES

During the FY 2025-26 under review, industrial relations remained cordial. Employees’ competencies and skills were enhanced by exposing them to several internal and external training programmes. A number of measures were taken to improve motivation level of employees. Additional efforts are continued to be implemented with a view to obtain commitment and loyalty towards the organisation.

(C) INDUSTRIAL RELATIONS, HEALTH AND SAFETY

The departmental safety coordinators are identified for monitoring and training on safety related matter at shop-floor. Safety Committee and Apex Committee are available for periodical review on health, safety & environment of all departments. Regular training on safety is being organised for new appointee, regular employees & contract labour. Mock-drills are conducted for practical exposure to meet emergency need on regular basis. Hand book on safety awareness are distributed to all employees.

(D) COST RECORDS

Pursuant to the provisions of Rule 8(5)(ix)(d) of the Companies (Accounts) Rules, 2014 (as amended), the Board of Directors do confirm that, the Central Government has prescribed for maintenance of cost records under Section 148(1) of the Companies Act, 2013 by the Company and accordingly, such cost accounts and records, subject to cost audit, have been made and maintained by the Company during the FY 2025-26.

24. ADDITIONAL DISCLOSURES UNDER LISTING REGULATIONS24.1 MANAGEMENT DISCUSSION AND ANALYSIS REPORT (MDAR)

The Management Discussion and Analysis Report (MDAR) on the affairs of the Company for the FY 2025-26, as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) is provided in a separate section and forms an integral part of this Report.

24.2 CERTIFICATE OF COMPLIANCE OF CONDITIONS OF CORPORATE GOVERNANCE

Your Directors are pleased to report that your Company has duly complied with the SEBI Guidelines on Corporate Governance for the year 2025-26 relating to the Listing Regulations. A Certificate from M/s. Vaibhav Jachak & Co, Company Secretaries, Nagpur [ICSI Membership No. FCS-8821 & Certificate of Practice No. 18495] confirming compliance with conditions as stipulated under Listing Regulations is annexed to the Corporate Governance Report of the Company.

24.3 SUSPENSION OF TRADING

The equity shares of the Company have been listed and actively traded on Main Board of National Stock Exchange of India Limited. There was no occasion wherein the equity shares of the Company have been suspended for trading during the FY 2025-26.

• OTHER MATTERS(A) DEMATERIALISATION OF SHARES

As on 31^st March 2026, the entire 100% issued, subscribed and paid-up share capital i. e. 25402613 equity shares of the Company were held in dematerialised form through depositories namely National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSIL).

(B) PAYMENT OF LISTING AND DEPOSITORIES FEES

The Company, has duly paid the requisite annual listing fees for the FY 2026-27, to the National Stock Exchange of India Limited (NSE).

The Company, has also duly paid the requisite annual custodian and other fees for the FY 2026-27, to the National Securities Depository Limited (NSDL) and Central Depository Service (India) Limited (CDSL).

(C) CODE OF CONDUCT FOR BUSINESS PRINCIPLES & ETHICS AND PREVENTION OF INSIDER TRADING AND OTHER CODE AND POLICIES OF THE COMPANY

Your Board of Directors are pleased to report that your Company has complied with the:-

(i) Code of Conduct of Business Principles and Conduct;

(ii) Code of Prevention of Insider Trading in MMP securities by the designated persons (insider) (as amended from time to time);

(iii) Code for Vigil Mechanism - Whistle Blower Policy;

(iv) Code for Independent Directors;

(v) Corporate Social Responsibility (CSR) Policy;

(vi) Risk Management Policy;

(vii) Policy on Document Preservations (Regulation 9 of the SEBI (LODR) Regulations, 2015);

(viii) Policy for determining of ‘material’ Subsidiary (Regulation 16 of the SEBI (LODR) Regulations, 2015);

(ix) Policy on materiality of related party transactions and on dealing with related party transactions (Regulation 23 of the SEBI (LODR) Regulations, 2015); and

(x) Policy for determination of materiality, based on specified criteria and accordingly, grant authorization for determination of materiality of events (Regulation 30 of the SEBI (LODR) Regulations, 2015).

The aforesaid codes and policy(ies) are available on the Company’s website www.mmpil.com.

25. DISCLOSURES PERTAINING TO THE SEXUAL HARASSMENT OF WOMEN AT THE WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

MMP Industries Limited (“the Company”) has in place an Anti-Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees etc.) are covered under this Policy.

The following is a summary of sexual harassment complaints received and disposed of during the FY 2025-26:-

ACKNOWLEDGEMENT

The Board of Directors acknowledges with gratitude for the co-operation and assistance received from National Stock Exchange of India Limited (NSE), Securities Exchange Board of India (SEBI), Auditors, Advisors & Consultants, other Intermediary service providers and other Investors for their continuous support for the working of the Company.

The Board of Directors also take this opportunity to extend its sincere thanks for co-operation and assistance received by the Company from the Central - State - Local Government and other regulatory authorities, Bankers and Members.

The Directors also record their appreciation of the dedication of all the employees at all levels for their support and commitment to ensure that the Company continues to grow.