Interim report
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22nd October 2026 To, BSE Limited Floor 25, P J Towers, Dalal Street Mumbai – 400 001 Scrip Code: 513519 To, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex Bandra (E), Mumbai – 400 051 Scrip Code: PITTIENG Dear Sirs, Sub: Outcome of Board Meeting *** We wish to inform you that the Board of Directors of the Company at its meeting held today i.e. 22nd October 2026 has inter alia: 1. Approved the un-audited financial results of the Company for the quarter and half-year ended 30th September 2026. Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, we enclose the statement of the un-audited financial results of the Company for the quarter and half-year ended 30th September 2026 along with the limited review report as provided by the statutory auditors. 2. Declared an interim dividend of ₹ 2/- (40%) per equity share of face value of ₹ 5/- each for the financial year 2026-27. 3. Fixed record date as Monday, 2nd November 2026 for the purpose of payment of interim dividend for the financial year 2026-27. The interim dividend shall be paid on or before 21st November 2026, to the equity shareholders of the Company, whose names appear on the register of members of the Company or in the records of the depositories as beneficial owners of the shares as on 2nd November 2026 which is the record date fixed for the purpose. 4. Approved a capex of ₹450 crores to increase manufacturing capacities and value-addition capabilities and consolidate the Company's fragmented lamination manufacturing operations in Karnataka into a single integrated manufacturing facility. The project is proposed to be implemented in phases up to FY 2030-31. 5. Noted the second grant of 5,77,500 employee stock options under the ‘Pitti Engineering Limited Employees Stock Option Scheme 2024 (“Pitti ESOP Scheme 2024” or “Scheme”) at the exercise price of ₹ 736.72 to the eligible employees of the Company made by the Nomination and Remuneration Committee at its meeting held on 22nd October 2026. 6. Re-designation of Senior Management Personnel and Appointment of Deputy Chief Operating Officer The Board of Directors has approved the re-designation of the following Senior Management Personnel of the Company, with effect from 22nd October 2026:
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Name Current Designation New Designation Shri Sandip Agarwala COO – Motor & Generator Components Business Deputy Chief Executive Officer Shri Chaitra Sundaresh Deputy Chief Operating Officer COO – Motor & Generator Components Business The Board has also approved the promotion of Shri Avinash Arun Patil from President – Maharashtra Operations to Deputy Chief Operating Officer of the Company, with effect from 22nd October 2026. Consequent to such promotion, Shri Avinash Arun Patil shall form part of the Senior Management Personnel of the Company in terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The relevant details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 as updated on 30th January 2026 for item no. 4 to 6 above are attached as Annexure 1 to 3 respectively. The meeting of the Board of Directors of the Company commenced at 4:30 PM and concluded at 5:10 PM. Kindly take the same on record. Thanking you, Yours faithfully, For Pitti Engineering Limited Mary Monica Braganza Company Secretary & Chief Compliance Officer FCS: 5532
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CA IND I A talati & talati lp 0C\rf-er � cco" � f-Cl � f-s Independent Auditor's Limited Review Report on the Unaudited Financial Results of Pitti Engineering Limited ("the Company") for the Quarter and Half Year ended September 30, 2026 pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To The Board of Directors of Pitti Engineering Limited 1. We have reviewed the accompanying Statement of Unaudited Financial Results of Pitti Engineering Limited ("the Company") for the quarter and half year ended September 30, 2026 (hereinafter referred to as "the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulation"). 2. The Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India ("ICAI"). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free from material misstatement. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Talati & Talati LLP, a Limited Liability Partnership bearing LLP identification AMBICA CHAMBERS, NEAR OLD HIGH COURT, NAVRANGPURA, AHMEDABAD 380 009. TEL. : 2754 4570 / 71 / 72 / 74 • www.talatiandtalati.com Also at : VADODARA 99249 35053 • SURAT (0261) 236 1236 MUMBAI (022) 2683 3041 / 42 • DELHI 99994 24420 • KOCHI (0484) 640 0102 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable Indian Accounting Standards ("Ind AS") specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. OF TRUST & EXCELLENCE - 1976-2026 CA IN DIA talati € talati llp Ch-tr /hot=t= Independent Auditor's Limited Review Report on the Unaudited Financial Results of Pitti Engineering Limited ("the Company") for the Quarter and Half Year ended September 30, 2026 pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To The Board of Directors of Pitti Engineering Limited 1. We have reviewed the accompanying Statement of Unaudited Financial Results of Pitti Engineering Limited ("the Company") for the quarter and half year ended September 30, 2026 (hereinafter referred to as "the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulation"). 2. The Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India ("ICAI). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free from material misstatement. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion, Talati & Talati LLP, a Limited Liability Partnership bearing LLP identification AMBICA CHAMBERS, NEAR OLD HIGH COURT, NAVRANGPURA, AHMEDABAD 380 009. TEL. : 2754 4570/71/72/74 • www.talatiandtalati.com Also at : VADODARA 99249 35053 • SURAT (0261) 236 1236 MUMBAI (022) 2683 3041/ 42 • DELHI 99994 24420 • KOCHI (0484) 640 0102 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable Indian Accounting Standards ("Ind AS") specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5 OF TRUST A EXCELLENCE 1976 .2026
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5. Emphasis of Matters We draw attention to the following matters in Note No. 4 of the Notes to the Financial Results: The Hon'ble National Company Law Tribunal, pursuant to the order dated 8th September, 2026 (NCLT order), approved the scheme of amalgamation amongst Pitti Engineering Limited ("PEL"), Pitti Industries Private Limited (formerly Bagadia Chaitra Industries Private Limited) ("PIPL" or the "Amalgamating Company l") and Dakshin Foundry Private Limited ("DFPL" or the "Amalgamating Company 2") with the appointed date of 1st April, 2026 (Scheme). Further as stated in the aforesaid note, the Company has given effect to the Scheme from the Appointed Date, and accordingly, the comparative financial information for the previous periods presented have been restated to reflect the impact of the amalgamation in accordance with Appendix C to Ind AS 103 (Business Combinations of Entities Under Common Control). Our Conclusion is not modified in respect of this matter. Place of Signature: Delhi Date: 22" October, 2026 For Talati & Talati LLP Chartered Accountants (Firm Reg No: l 10758W/Wl00377) CA Amit Shah Partner Membership Number: 122131 UDIN: 26122131RYIEQP8126 5. Emphasis of Matters We draw attention to the following matters in Note No. 4 of the Notes to the Financial Results: The Hon'ble National Company Law Tribunal, pursuant to the order dated 8th September, 2026 (NCLT order), approved the scheme of amalgamation amongst Pitti Engineering Limited ("PEL"), Pitti Industries Private Limited (formerly Bagadia Chaitra Industries Private Limited) (PIPL" or the "Amalgamating Company l ") and Dakshin Foundry Private Limited ("DFPL" or the "Amalgamating Company 2") with the appointed date of 1st April, 2026 (Scheme). Further as stated in the aforesaid note, the Company has given effect to the Scheme from the Appointed Date, and accordingly, the comparative financial information for the previous periods presented have been restated to reflect the impact of the amalgamation in accordance with Appendix C to Ind AS 103 (Business Combinations of Entities Under Common Control). Our Conclusion is not modified in respect of this matter. Place of Signature: Delhi Date: 22 October, 2026 For Talati & Talati LLP Chartered Accountants (Firm Reg No: l 10758W/Wl00377) CA Amit Shah Partner Membership Number: 122131 UDIN: 26122131RYIEQP8126
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( l o s s ) b o f o re e x c e p t i o n a l a n d e x tra o rd i n a ry i te m s a n d t a xa t i o n ( 1 - 2 ) 4, 5 2 5 . 9 2 3, 6 2 2. 1 0 5 , 3 8 6 . 6 8 8 , 1 4 8 . 0 2 9 , 0 4 1 . 1 8 1 6 , 7 5 8 . 1 1 4 E x ce pt i o n a l i t e m s - - . . . 5 P ro f i t / ( l o s s ) b e f o r e e x t r a o rd i n a ry i te m s a n d ta x a t i o n ( 3 -4 ) 4 .5 2 5 . 9 2l 3 , 6 2 2 . 1 0 5 , 3 86 . 6 8 8 , 1 4 8 . 0 2 9 , 0 4 1 . 1 8 1 6 , 7 5 8 . 1 1 6 E x t ra or di n a ry it e m s - . . - I . . 7 P r o fi t / ( l o s s ) b o fo re ta x a ti o n ( 5 - 6 ) 4 , 5 2 5 . 9 2 3 , 6 2 2. 1 0 5 , 3 8 6 . 6 8 8 , 1 4 8 . 0 2 9 , 04 1 . 1 8 1 6, 7 5 8 . 1 1 8 I n c o m e t a x e xpe n s e s - - ( a ) C u r re nt ta x c h a rg e / ( C r edi t ) , - - 1. , 2 3 1 2 2 2, 3 9 5. 5 5 4 , 2 04. 1 1 1 . 1 7 6 . 98 · - - 806 . 8 1 1 , 9 8 3. 7 9 (b ) T a x re la ti n g to e a rli e r yea rs ch a rg e / ( C r e di t ) , - ( 1 0 6 . 7 5) ( 88 0 5 ) . 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•. ,.1. ' s 3• co c i cD / t # � uu ' I I I I I I I ' I II Ill I 583.g ggs'g a 0 -: I : I I I I I I I S t a t e m e n t o f A s s e t s a n d Li a b i li t i e s i n l a k h s S I . N o . P a rt i c u l a r s A s a t A s a t 3 0 . 0 9 . 2 0 2 6 3 1 . 0 3 . 2 0 2 6 U n - A u d i t e d A u d i t e d R e s t a t e d A A S S E T S - - - - NO N - C U R R E N T A S S E T S - - - - ( a ) P r o p e rt y . pl a n t a n d e qu i p m e n t 9 6 , 7 9 3. 3 3 8 8 , 1 9 2. 1 1 - - - - ( b ) C a pi t a l w o r k - i n - p r o g r e s s 1 2 , 0 3 2 . 0 5 4 , 9 8 1 . 2 3 - - - - ( c ) I n t a n g i b l e A s s e t s 5 1 9 . 3 6 - - 5 8 0 . 6 0 - - - - - - - - - ( d ) C a p i t a l w o rk - i n - p r o g r e s s - I n t a n g i b l e - - - - - - 1 2. 9 0 2. 6 9 ( e ) Ri g h t o f u s e o f A s s e t s 1 0 , 5 7 6 . 2 9 - - - ( I F i n a n ci a l A s s e t s - - - - - - ( ) I n v e s t m e n t s 4 . 9 6 4 . 9 8 . ( i i ) O t h e r F i n a n c i a l A s s e t s 3 2 4 . 1 8 18 4 . 2 2 - - - ( a ) O t h e r n o n - c u r r e n t a s s e t s 9 , 8 1 3. 6 7 2 , 7 9 1 . 5 3 T O T A L N O N - C U R R E N T A S S E T S 1 , 3 0 , 0 6 5 . 8 6 1 , 0 9 , 6 3 7 . 3 6 - - - C U R R E N T A S S E T S - ( a) in v e n t o ri e s 4 7 , 8 6 9. 6 8 3 9 , 4 9 0. 7 7 - ( b ) Fi n a n ci a l A s s e t s - - - - - - - - - - - - - - - 0 I n v e s t m e n t s - - - - - - 2 . 0 8 1 . 6 2 ( ii ) Tr a d e r e c e i v a b les - - - 2 1 , 6 9 0 . 4 0 - - - 2 0, 6 2 5 . 1 5 - · ( ii ) C a s h a n d C a sh e qu i v a l e n t s - - - - 5 , 9 0 7 . 6 4 - - 1 1 , 9 4 4 . 9 2 - (iv) O t h e r b a n k b a l a n c e s 4 , 2 6 5 . 4 8 - - - 2 , 7 2 7 . 4 4 - -() O th e r fi n a n c i al a s s e t s 8 2 . 77 4 5 5 . 8 9 - - - ( c ) O t h e r c u r r e n t a s s e t s 1 4 , 8 1 8 . 5 5 1 5 , 2 8 5 . 7 3 T O T A L C U R R E N T A S S E T S 9 4 , 6 3 6 . 6 0 9 0 , 5 3 1 . 5 2 T O T A L A S S E T S 2 , 2 4 , 7 0 2 . 4 6 2 , 0 0 , 1 6 8 . 8 8 B E Q U I TY A N D L I A B I L I T I E S - - - - - E Q U I T Y - - - - - - - - - - - - - - - ( a ) E q ui t y s h a r e c a pi t a l - - - 1 ., 8 8 3 . 1 0 - - 1 , 8 8 3 . 1 0 ( b ) O t h e r e a u i t v 8 9 , 2 6 7 . 1 0 8 3 . 1 9 7. 8 0 T O T A L E Q U I TY 9 1 , 1 7 0 . 2 0 8 5 , 0 8 0 . 9 0 - - LI A B I LI TI E S - - - - - - - - - - - - - - - - - - - - N O N - C U R R E N T LI A B I LI TI E S - · - - - - - - ( a ) Financia l L i a bi l i t i e s - - - - - - - - - - - - ( i) B o r r o wi n g s - - - - - 3 7, 2 4 6 . 2 4 3 8, 0 8 1 . 3 2 - - - ( i i ) L e a s e Li a b i l i t y - - - 8. 2 6 1 .18 7,7 2 1. 55 - - - -( in ) O th er s - - - - 1 . 3 6 - - · - - - 1 . 3 6 - - - - ( b ) P r o vi si on s - 2 , 5 9 8. 4 9 2 , 3 7 6 . 1 6 ( c ) D e f e r r e d t a x l i a b i l i t i e s ( n e t ) 2 , 3 2 7 . 3 4 2 , 3 6 5 . 2 3 T O T A L N O N - C U R R E N T LI A B I LI T I E S 5 0 , 4 3 4 . 6 1 5 0 , 5 4 5 . 6 2 - - C U R R E N T L I A B I L I T I E S - - - - - - - - - - - - - - - - - ( a ) F i n a n ci al L i a b il i t i e s - - - · - - - - - - - - - - - - ( i ) B o r r o w i n g s - 2 6 , 7 9 6 . 5 6 - 3 1 , 8 0 3 . 3 5 - - - - ( i i ) L e a s e l i a bi l i t y - 3 , 1 3 0 . 4 1 - 3.4 6 2. 2 0 - - - ( in ) T r a d e p a y a b l e s - - - - - - - - - - - - - - D u e s t o m i c r o a n d s m a ll e n t e r pris e s 7 8 7 . 4 4 , - 7 1 7 .7 9 - D u e s t o o t h e r s 4 6 . 6 9 1 . 2 7 2 3 , 6 0 9 . 2 4 - ( iv) O t h e r fi n a n ci a l li a bi l i t i e s - 2 . 9 1 4 . 3 3 - 2 4 5 5 . 4 7 ( b ) O t h e r c u r r e n t li a b il i t i e s 1 , 3 9 9 . 8 1 1 , 1 2 0 . 3 1 - -. ( c ) P r o vi s i o n s - - - · 1 , 1 4 8 . 2 4 _ m a . 4 ( d ) I n c o m e t a x l i a bi l i t i e s ( n e t ) 2 2 9 . 5 9 5 4 5 . 1 6 T O T A L C U R R E N T LI A B I LI TI E S 8 3 , 0 9 7 . 6 5 6 4 , 5 4 2 . 3 6 T O T A L E Q U I T Y A N D LI A B I LI T I E S 2 , 2 4 , 7 0 2 . 4 6 2 , 0 0 , 1 6 8 . 8 8
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I I g5 a « I I I I · I I I e o c t � co I I u 3 0 u:: .c ti) c 0 .... 0 bl C: (I) E % 0 0 £ g g c « U 5 • o sE 68 S t a n d a l o n e S t a t e m e n t o f C a s h F l o w s i n l a k h s P a rt i c u l a r s F o r t h e H a l f - Y e a r e n d e d 3 0 . 0 9 . 2 0 2 6 F o r t h e H a l f - Y e a r e n d e d 3 0 . 0 9 . 2 0 2 5 U n - A u d i t e d U n - A u d i t e d A . C A S H F L O W F R O M O P E R A T I N G A C TI V ITI E S - - - - - - - - - - - - 2 4 0 . 5 4 ( 9 3 8 4 . 3 0 ) 1 0 1 6 6 . 5 2 0 . 3 3 4 5 4 .4 4 5 9 0 7 . 6 4 ( 6 0 3 7. 2 8 ) 3 0 1 . 1 8 1 1 9 4 4 . 9 2 9 8 6 5 . 3 4 8 1 4 8 . 0 2 9 0 4 1 . 1 8 5 7 7 6 . 8 4 5 1 3 9. 4 5 ( 1 0 5 . 8 7 ) ( 2 3 9 . 2 5 ) 0 . 8 2 1 . 3 2 ( 1 . 0 5 ) 1 0 . 2 5 - ( 2 4 . 2 5 ) 3 . 1 4 ( 1 3 1 . 8 7 ) ( 0 5 3 ) ( 9 5 . 8 9 ) 9 8 . 4 3 ( 0 .4 5 ) - - - ( 0 .15 3 5 0 . 1 0 - - ( 2 3 3 . 8 6 ) 5 9 1 . 1 8 3 , 8 9 5 . 3 4 3 9 9 1 . 8 6 - - - - - - ( 0 . 3 3 ) - - - - 4 8 3 . 0 2 5 4 7 . 5 9 1 8 , 0 6 0 . 5 7 1 9 , 1 8 4 . 4 7 1 6 4 8 4 . 1 2 ( 8 4 3 8 . 8 8 ) • 3 4 , 5 4 4 . 6 9 1 0 , 7 4 5 . 5 9 ( 2 2 4 2 . 2 7 ) ( 1 2 0 6 . 5 3 ) 3 2 , 3 0 2 . 4 2 9 5 3 9 . 0 6 ( 0 . 0 0 ) - ( 4. 9 5 ) ( 2 5 6 8 3 . 0 5 ) ( 8 1 5 9 .4 0 ) ( 2 6 , 3 1 9 . 4 9 ) - - - - - - - - - - - - - - - - - - - I n t e r e s t i n c o m e r e c e i v e d - - - - - - - N e t c a s h u s e d i n I n v e s t ing A c t i v i t i e s -(P) C . C A S H F L O W F R O M F I N A N C I N G A C T I V I T I E S I n v e s t m e n t s N e t C a s h u s e d i n F i n a n c e A c t i v i t i e s - ( C ) Ne t I n c r e a s e / ( D e c r e a s e ) in C a s h & C a s h E q u i v a l e n t s ( A +B+CG) Op e n i n g B a l a n c e i n C a s h a n d c a s h e q u i v a l e n t s C l o s i n g B a l a n c e i n C a s h a n d c a s h e a u i v a l e n t s A d j u s t e d f o r D e p r e ci a t i o n a n d a m o rt i z a t i o n e x p e n s e s I n t e r e s t I n c o m e N e t P r o l ft b e fo r e t a x Fin a n c e c h a r g e s - - ' (3 9 2 6 . 6 4 )] ( 3 9 1 5 . 6 9 ) C a s h P a y m e n t s f o r P ri n ci p a l p o rti o n o f l e a s e li a b i l i t y ' 578 .16, 65 3. 4 1 C a s h P a y m e n t s fo r i n t e r e s t p o rti o n o f l e a s e li a bi l i t y (36 0 . 3 1 )/ ( 1 9 4 . 3 2 ) P r o c e e d s f r o m B o r r o w i n g s - N o n c u r r e n t ( i n cl u di n g c u r r e n t m a t u rities) ' 4 80 2 . 3 1 ' 4 1 6 9 4 . 9 0 R e p a y m e n t o f B o r r o w i n g s - N o nc ur r en t @ i n cl u di n g c u r r e n t m at u ri ti e s ) ' ( 4 7 3 6. 5 5 ) ] _ ( 2 6 2 1 . 5 0) P r o c e e d s / ( r e p a y m e n t s ) o f s h o rt - t e r m b o r r o wi n g s ( N e t ) ( 5 9 0 7. 6 3 )/ (296 5. 3 9 ) P r o ce e d s from Es o T r u s t /( P u r c h a s e ) o f t r e a s u ry s h a r e s b y E S O P T r us t ( n e t ) - (2 2 4 6 . 3 6 ) T e r m D e p o s i t A c c o u n t s w i th fi n a n c i a l i n s t i t u t i o n s ( 1 5 2 8 . 2 0 ), 3 0 6 . 1 7 P a y m e n t o f D i vi de nd r ( 9 3 1 . 5 0 ) ] ( 0 . 1 8 ) U n c l a i m e d D i v i d e n d ( 9 . 8 4 ) ( 5 6 4 . 6 2 ) ( 1 2 0 2 0 . 2 1 ) 1 4 6 .4 2 P u r c h a s e o f P r o p e r t y , P l a n t & e q u i p m e n t a n d i n t a n g i b l e s (in c l u d i n g ca p i t a l w o r k i n p rog r e s s a n d c a pi t al a d v a n c e s ) R i g ht o f u s e o f A s s e t s ' ( 1 1 4 4 . 6 3 ), ( 1 6 4 5 .4 6 ) P r o c e e d s f r o m s a l e o f p r o p e rt y , p l a n t & e q u i p m e n t - ' - sd.2, 1 8 4 . 9 7 D i v i d e n d I n c o m e C r e d i t R i s k I m p a i r e d C r e d i t R i s k A ll o w a n c e ( G a i n ) / L o s s o n sale or prope rty, p lant a n d e q ui pm e n t (in cl u d i n g i n t a n g a bl e a s s e t s ) L o s s / ( P r o fi t ) o n L e a s e m o d i f i c a t i o n R e - m e a s u r e m e n t g a i n s / ( l o s s e s ) o n e m p l o y e e d e fi n e d b e n e f i t p l a n s R e - m e a s u r e m e n t ( g a i n s ) / l o s s e s o n I n v e s t m e n t s F a i r v a l u e o f C h a n g e s i n C a s h fl o w H e d g e U n r e a l i s e d f o r e i g n e x c h a n g e d i ff e r e n c e s F i n a n c e c o sts D i en income - - - - - - - S h a r e b a s e d p a y m e n t e x p e n s e s ( n e t ) O p e r a t i n g P r o f i t b e f o r e W o rk i n g C a p i t a l c h a n ges C h a n g e i n w o rk i n g c apita! C a s h g e n e r a t e d f r o m o p e r a t i o n s D i r e c t T a x e s P a i d N e t c a s h f l o w f r o m o p e r a t i n g a c t i v i t i e s (A) B . C A S H F L O W F R O M I N V E S T I N G A C T I V I T I E S
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(1) E 0 O £ (1) > 7% c Q c q a E 0 O « 6 h co Lo co t 0 ¢ g ~ t c t cN co 0 X 5 ~ 9 6 9 o a c • z'5 O co co • O co N I o r u r- CV O) (N r « t or. to t co o co c N c +co c (y v p O tr O I 0 O CN co • o c c 0 u DO c) I ; o c O t co O y I CO to 0) ...... 1.0 cu o ¢u c c 0 ¢ U Cl) u z 0 ... c 0 >- ' l. 7 r � 5 "' 0 cc E G c 0 z i 0 • 0 iii u z � CJ) % c 9 = ·c:; z 0 c a, 0 • z < • £ I (I) E 0 0 c (I) > 7% c (I) c (I) h £ 0 O 5 l ¢ g a : a cN CN t I o O c o < o u N Lo CV ¢ e c O L I - to t 0) c) ¢ £ z e 5 9 Q @ c t 6 9 I- 0... co O u co QV u co u t u uo) 0O I y st o y <t i v cv < - O O CO L) C et v o r O CV LO Kt «535 uo co o co o co co co cu c C O co o_ e 0 • <t c ¢N o c co o o ty G 0 u c 0 £ ro 0 L 4 c cy a, q 0 t z 0 U z 0 ? ' ::l 0 > 0 ai 0 c (I) > 6 2 0 U 0 E o (I) > t5 (I) 0 U e (I) £ e 9 2 5 CIJ � « U % c • U 9 c0 %% 9 U c cU U £ 0 0 9 (I) £ % c 9 5 ·u c 0 0 e < - c £ a o (y - c 7 5 <£ ( q 0 zE ~ 58 Q o O 5 c s2! G 0 X A4 co U £ c 0 CIJ £ (I) .... oo 3 .... (I) 3 d c> 0 o U &3 = t/ b..2 u u � C D.. 0 as 3 o £ % 9 E 2b gs 0 2 3 % 2 s 3 2 5 a £ £ o w d • cu 9 co o o c cc Es 2 o c ( gs c 9 5% 2E . - (.) £« 32 % O c c cu g o 0 CIJ o g ££ o h g o 0 £ 0a 0 c a3 s8 <D ro 0 % £- % co c U g o s � t % -0 c 0 U 3 6 E % Ee c c U � c o (I) o (0 cN o cN % 0 0 t5 0 -0 c cN cV c 0 o ai ..c o c % q E r--: cu d cN o cN .... .U (I) >- a U c (1l C • 0 £ .... 9 ..c (.) cu 0 ' to I 0 _ « 2> (I) 0 g % e c ..c u 2 5 U (I) .... q 0 2 % � 9 e a % o s 0 c (I) ..c l u .= 0 £ a 2 0 z e 0 % £ a 0 • O £ 2 0 o 0 > e o 0 ro 0 c 0 (I) (I) ±- e £ 0 O > .0 U (I) 3 (I) 5 e c (I) (I). 0 CIJ c c (0 N o cN % .0 £ 9 0 (I) 0 ..c 5 co U (I) U C 0 a (I) � a 1 2 @8 • cV 0 L t: 4 0 o O £ o • C ~& « C O %e (I) (I) - £ & 2 £ z5 £ 9g 0. • 5 % S £5 • 0 c 0 c v Q) c bl 0 .... u 0 be 0 z N o t e s t o t h e fi n a n c i a l r e s u l t s : 1 T h e a b o v e fi n a n c i a l r e s u l t s fo r t h e q u a rt e r a n d H a l f - Y e a r e n d e d 3 0 t h S e p t e m b e r 2 0 2 6 h a s b e e n r e v i e w e d b y t h e A u d i t C o m m i t t e e a n d a p p r o v e d b y t h e B o a r d o f D i r e c t o r s a t t h e i r r e s p e c ti v e m e e t i n g s h e l d o n 2 2 n d O c t o b e r 2 0 2 6 . 2 T h e B o a r d o f D i r e c t o r s a t i t s m e e ti n g h e l d o n 2 2 n d O c t o b e r 2 0 2 6 d e cl a r e d a n i n t e r i m d i v i d e n d o f t 2 / - ( 4 0 % ) p e r e q u i t y s h a r e o f fa c e v a l u e t 5 / - e a c h fo r t h e fi n a n c i a l y e a r 2 0 2 6 - 2 7. 3 T h e fi n a n c i a l r e s u l t s h a v e b e e n p r e p a r e d i n a c c o r d a n c e w i t h I n d i a n A c c o u n t i n g S t a n d a r d s ( I n d A S ) p r e s c r i b e d u n d e r S e c t i o n 1 3 3 o f t h e C o m p a n i e s A c t , 2 0 1 3 , r e a d w i t h r e l e v a n t r u l e s i s s u e d t h e r e u n d e r a n d o t h e r a c c o u n t i n g p r i n c i p l e s g e n e r a ll y a c c e p t e d i n I n d i a a n d i n t e r m s o f R e g u l a t i o n s i s s u e d b y S e c u r i t i e s a n d E x c h a n g e B o a r d o f I n d i a ( S E B I ) . 4 T h e B o a r d o f D i r e c t o r s , a t i t s m e e t i n g h e l d o n 5 t h F e b r u a ry 2 0 2 6 , c o n s i d e r e d a n d a p p r o v e d t h e S c h e m e o f A m a l g a m a t i o n a m o n g P i tt i I n d u s t r i e s P r i v a t e Li m i t e d ( f o r m e r l y B a g a d i a C h a i t r a I n d u s t r i e s P r i v a t e L i m i t e d ) ( " P I P L " o r t h e " A m a l g a m a t i n g C o m p a n y 1 " ) , D ak s h i n F o u n d r y P r i v a t e L i m i t e d ( " D F P L " o r t h e " A m a l g a m a t i n g C o m p a n y 2 " ) wi t h P i tt i E n g i n e e r i n g Li m i t e d ( " P E L" o r t h e " C o m p a n y" ) a n d t h e i r r e s p e c ti v e s h a r e h o l d e r s a n d c r e d i t o r s u n d e r S e c t i o n 2 3 0 t o 2 3 2 o f t h e C o m p a n i e s A c t , 2 0 1 3 a n d th e r u l e s f r a m e d t h e r e u n d e r ( S c h e m e ) . T h e S c h e m e w a s a p p r o v e d b y t h e H o n ' b l e N C L T , H y d e r a b a d B e n c h , v i d e i t s o r d e r d a t e d 8 t h S e p t e m b e r 2 0 2 6 a n d b e c a m e e ff e c t i v e o n 2 3 r d S e p t e m b e r 2 0 2 6 u p o n fil i n g o f t h e c e rt i fi e d c o p y o f t h e o r d e r w i t h t h e R e g i s t r a r o f C o m p a n i e s , H y d e r a b a d . T h e A p p o i n t e d D a t e o f t h e S c h e m e i s 1 s t A p r i l 2 0 2 6 . P u r s u a n t t o t h e S c h e m e b e c o m i n g e ff e c t i v e , P I P L a n d D F P L , b e i n g w h o ll y - o w n e d s u b s i d i a r i e s o f t h e C o m p a n y , s t a n d d i s s o l v e d w i t h o u t w i n d i n g u p . A c c o r d i n g l y , t h e a m a l g a m a t i o n h a s b e e n a c c o u n t e d fo r a s a c o m m o n - c o n t r o l b u s i n e s s c o m b i n a ti o n i n a c c o r d a n c e w i t h A p p e n d i x C t o I n d A S 1 0 3 u si n g t h e p o o l i n g o f i n t e r e s t s m e t h o d , w i t h c o m p a r a t i v e i n f o r m a t i o n r e s t a t e d a c c o r d i n g l y . C o n s e q u e n t l y , t h e C o m p a n y h a s n o s u b s i d i a r i e s a s a t t h e r e p o rt i n g d a t e , a n d t h e s e fi n a n c i a l r e s u l t s r e p r e s e n t t h e s t a n d a l o n e fi n a n c i a l r e s u l t s o f t h e C o m p a n y . A r e c o n c i l i a t i o n o f t h e r e p o rt e d a n d r e s t a t e d fi n a n ci a l r e s u l t s fo r t h e r e s p e c t i v e p e r i o d s i s g i v e n b e l o w : z i n l ak h s R e c o n c ili a t i o n o f S t a n d a l o n e F i n a n c i a l R e s u l t s Q u a rt e r e n d e d 3 0 . 0 6 . 2 0 2 6 Q u a rt e r e n d e d 3 0 . 0 9 . 2 0 2 5 U n - a u d i t e d A d j u s t m e n t s d u e U n - A u d i t e d U n - a u d i t e d A d j u s t m e n t s d u e U n - A u d i t e d R e p o rt e d t o S c h e m e o f R e s t a t e d R e p o r t e d t o S c h e m e o f R o s t a t o d A m a l g a m a t i o n A m a l g a m a t i o n T o t a l I n c o m e 4 4 , 2 5 8 . 8 8 8 , 7 3 5 . 6 9 5 2 , 9 9 4 . 5 7 4 1 , 8 0 8 . 3 6 8, 0 9 6 . 9 2 4 9 , 9 0 5 . 2 8 P r o fi t b e fo r e t a x 2 , 4 7 5 . 2 0 1 , 1 4 6 . 9 0 3, 6 2 2. 1 0 4, 7 6 1 . 5 5 6 2 5 . 1 3 5 , 3 8 6. 6 8 P r o fit a ft e r t a x 2 , 0 8 4 . 1 5 8 6 6 . 0 4 2 , 9 5 0 . 1 9 3 , 5 5 8 . 2 5 4 5 1 . 1 7 4 , 0 0 9 . 4 2 T o t a l C o m p r e h e n s i v e I n c o m e 2 , 2 7 5 . 5 1 8 7 2 . 1 7 3 , 1 4 7 . 6 8 3 , 6 7 0 . 3 2 4 2 7 . 1 0 4 , 0 9 7 . 4 2 z i n l a k h s R e c o n c i l i a t i o n o f S ta n d a l o n e F i n a n c i a l R e s u l t s H a l f - Y e a r e n d e d 3 0 . 0 9 . 2 0 2 5 Y e a r e n d e d 3 1 . 0 3 . 2 0 2 6 T o t a l I n c o m e P r o fit b e fo r e t a x P ro fit a ft e r t a x T o t a l C o m p r e h e n s i v e I n c o m e U n - a u d i t e d R e p o rt e d 8 0 , 7 2 9. 6 6 7 , 6 9 7. 6 8 5 , 3 1 5 . 2 5 5, 4 2 7. 7 9 A d j u s t m e n ts d u e t o S c h e m e o f A m a l g a m a t i o n 1 5 , 5 7 2 . 3 4 1 , 3 4 3 . 5 0 9 8 2 .4 1 9 4 3. 5 3 U n - A u d i t e d U n - A u d i te d A d j u s t m e n t s d u e U n - A u d i t o d R e s t a t e d t o S c h e m e o f R e s t a t e d A m a l g a m a t i o n 9 6 , 3 0 2. 0 0 1 , 6 2, 8 9 0 . 1 8 3 2, 4 0 1 . 1 9 1 , 9 5 , 2 9 1 . 3 7 9 , 0 4 1 . 1 8 1 4, 0 30. 7 9 1 6, 7 5 8. 1 1 6 , 2 9 7. 6 6 1 1 , 7 8 0. 7 5 6 , 3 7 1 . 3 2 1 1 , 6 6 8 . 4 8
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S eg m e n t R e v e n u e a ) I n d i a 4 2 , 4 1 1 . 0 1 3 9 , 1 6 4 . 3 5 3 4, 2 6 0 . 3 8 8 1 , 5 7 5 . 36 6 5 , 9 8 0 . 7 2 1 , 3 8 , 1 4 9 . 7 4 b ) O u t s i d e I n d i a 1 5 . 4 3 2. 7 9 1 3, 7 4 5 . 1 2 1 3. 5 1 2 . 5 5 2 9. 1 7 7 . 9 1 2 7, 4 4 8 . 64 5 3. 1 30 . 6 2 R e v e n u e f r o m O p e r a t i o ns 57, 8 43. 8 0 5 2 , 9 0 9. 4 7 4 7 , 77 2 . 9 3 1 1 0. 7 5 3 . 2 7 9 3 , 4 2 9 . 3 6 1 , 9 1 , 2 8 0 . 3 6 I I , S e g m e n t A s s e t s - a ) I n d i a 2 , 1 7, 9 8 2. 5 2 2 , 0 3, 6 5 7. 5 9 1 , 8 5 , 7 8 9. 3 8 2 , 1 7 , 9 8 2. 5 2 1 , 8 5 , 7 8 9 . 3 8 1 , 9 3 , 3 9 5. 4 2 b ) O u t si d e I n d i a 6, 7 1 9. 94 6. 4 6 3. 2 0 1 4 . 8 54 . 5 6 6. 7 1 9 . 9 4 1 4. 8 5 4 . 5 6 6. 7 7 3. 4 6 T o t a l 2 , 2 4 , 7 0 2. 4 6 2 , 1 0, 3 2 0 . 7 9 2 , 0 0 , 64 3 . 9 4 2. 2 4. 7 0 2 . 4 6 2. 0 0 , 6 4 3 . 9 4 2 , 0 0 , 1 6 8. 8 8 7 F i g u r e s o f th e p re v i o u s q u a rt e r s/ y e a r h a v e bee n re g r o u p e d w h e r e v e r n e c e s s a ry t o c o r r e s p o n d w i th cu rr e n t ye a r' s p r e s e n t a t i o n . Pl a ce: H y d e ra b a d D at e : 2 2 n d O c t o b e r 2 0 2 6 B y o r d e r o f t h e B o ar d F o r P I TT I E N G I N E E R ! G L I' 'D @ 3
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Annexure - 1 Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 as updated on 30th January 2026. 1. Approved capital expenditure and capacity expansion Sno Particulars Details a) Existing capacity The current consolidated installed capacity for sheet metal (lamination) is 1,08,000 MT per annum and for machining hours is 8,13,600 with an approved expansion currently underway to enhance machining capacity to 10,80,000 machining hours by Q1 2029-30. b) Existing capacity utilization The current capacity utilisation stands at ~ 78% for sheet metal and ~ 85% for machining. c) Proposed capacity addition Particulars (Per annum) Existing Capacity as on 30-Sep-2026 On-going Capacity addition to be completed by Q1 2029-30 Post Proposed Capacity Sheet Metal (MT) 1,08,000 NA 1,60,000 Machine Hours 8,13,600 10,80,000 13,14,000 d) Period within which the proposed capacity is to be added The project is proposed to be implemented in phases up to FY 2030-31. e) Investment required Estimated project cost is ₹ 450 crores f) Mode of financing Internal accruals and Debt g) Rationale The Company is witnessing sustained growth in demand across key sectors, including mining and off-highway vehicles, power generation (including thermal, hydro, pumped storage and wind energy), data centres, railways and metro infrastructure. In order to support the anticipated growth in business volumes, strengthen its manufacturing capabilities and enhance value addition, the Company proposes to undertake capacity expansion across its facilities and consolidate its presently fragmented lamination manufacturing operations in Karnataka into a single integrated manufacturing facility. The project is expected to increase capacities, improve operational efficiencies, optimise costs and support future growth.
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Annexure - 2 2. Second grant of 5,77,500 employee stock options S.No Particulars Disclosure Details a) Brief details of options granted The Nomination and Remuneration Committee has approved the grant of 5,77,500 employee stock options to the eligible employees under the Pitti ESOP 2024 – Grant 2 at the exercise price of ₹ 736.72 to the eligible employees of the Company out of the shareholder approved limit of 13,00,000 options. b) Whether the scheme is in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 Yes c) Total number of shares covered by these options 5,77,500 equity shares of ₹ 5/- each of the Company. Each option carries the right to apply for and be allotted one equity share of face value of ₹ 5/- each of the Company. d) Pricing formula The Exercise Price shall be decided by the Board or Nomination and Remuneration Committee as is allowed under the Companies Act and SEBI Regulations. The Nomination and Remuneration Committee has approved an Exercise Price of ₹ 736.72 per Option for the second grant under the ESOP Scheme, being the same Exercise Price approved for the first grant. The Committee considered it appropriate to maintain consistency and equitable treatment across grants, particularly in view of the fact that the prevailing market price of the Company's equity shares remains broadly comparable to that at the time of the first grant. Accordingly, the approved Exercise Price represents a discount of 23.03% to the closing market price of ₹ 957.20 per equity share on the National Stock Exchange of India Limited which recorded the highest trading volumes in the equity shares of the Company on Wednesday 21st October 2026, i.e., being the previous trading day immediately preceding the date on which the grant of options has been approved. e) Options vested Not Applicable, as this outcome is pertaining to grant of Options under the Scheme. f) Options exercised g) Money realized by exercise of options h) Total number of shares arising as a result of exercise of option i) Options lapsed j) Variation of terms of options
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S.No Particulars Disclosure Details k) Brief details of significant terms The Scheme will be implemented and administered through trust route wherein a trust can either acquire the equity shares of the Company by way of secondary acquisition or the Company will issue shares to the Trust in accordance with the Scheme. Upon a valid exercise of a vested option by a participant, each vested option will entitle the participant to one equity share of the Company. There shall be a minimum period of one year between grant of options and vesting of options. Every grant of options shall be governed by a vesting schedule and such other terms, as determined by the Nomination and Remuneration Committee and detailed in the letter of grant issued to the eligible employees at the time of each grant. l) Vesting Schedule In terms of Pitti ESOP 2024 – Grant 2 and subject to the achievement of performance conditions as specified in the grant letter, options shall vest as under: Time Based Options (TBO) 75% of Total Grants Performance Based Options (PBO) 25% of Total Grants Vesting Period % of options Vested Vesting Period % of options Vested End of Year 1 Nil End of Year 1 Nil End of Year 2 Nil End of Year 2 25% End of Year 3 15% End of Year 3 25% End of Year 4 15% End of Year 4 10% End of Year 5 15% End of Year 5 10% End of Year 6 15% End of Year 6 10% End of Year 7 20% End of Year 7 10% End of Year 8 20% End of Year 8 10% Time within which option may be exercised The Option Grantee is entitled to Exercise the Options from the first date of Vesting till the expiry of 5 years from the vesting of final tranche of the granted options. m) Subsequent changes or cancellation or exercise of such options 80,000 Stock Options under the first grant approved by the Nomination and Remuneration Committee at its Meeting held on 13th March 2026, stand cancelled as on date owing to the exit of the respective employees prior to completion of the vesting period. n) Diluted earnings per share pursuant to issue of equity shares on exercise of options Not Applicable, as this outcome is pertaining to grant of Options under the Scheme.
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sAnnexure - 3 3. Re-designation of existing Senior Management Personnel Sr.No. Particulars Details a) Name Shri Sandip Agarwala b) Reason for change viz., appointment, re- appointment, resignation, removal, death or otherwise Re-designation from COO – Motor & Generator Components Business to Deputy Chief Executive Officer c) Date of appointment/re-appointment /cessation (as applicable) & term of appointment/re-appointment; Date of Redesignation: 22nd October 2026 d) Brief Profile Shri Sandip Agarwala (50 years) is a seasoned business leader with over 13 years of experience at Pitti Engineering Limited. He holds a Post Graduate Diploma in Business Management and possesses extensive experience in business strategy, operations, marketing, and business development. Since joining the Company in May 2013, he has played a key role in driving operational growth, enhancing manufacturing efficiency, strengthening customer relationships, and expanding the Motor & Generator Components Business. As Chief Operating Officer – Motor & Generator Components Business, he has successfully led strategic and operational initiatives aligned with the Company's long-term objectives. In his role as Deputy Chief Executive Officer, Shri Agarwala will support the overall leadership and strategic direction of the Company, leveraging his strong operational expertise and industry experience to drive sustainable growth and value creation. e) Disclosure of relationships between Directors (in case of appointment of Director) Not Applicable
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Sr.No. Particulars Details a) Name Shri Chaitra Sundaresh b) Reason for change viz., appointment, re- appointment, resignation, removal, death or otherwise Re-designation from Deputy Chief Operating Officer to COO – Motor & Generator Components Business c) Date of appointment/re-appointment / cessation (as applicable) & term of appointment / re-appointment; Date of Redesignation: 22nd October 2026 d) Brief Profile Shri Chaitra Sundaresh (48 Years) is a Commerce graduate with over two decades of experience in the electrical laminations and manufacturing industry. He has extensive expertise in manufacturing operations, business management, and customer engagement within the electrical and industrial components sector. He is associated with the Company as Deputy Chief Operating Officer since May 2024. He has played a key role in strengthening manufacturing capabilities, driving operational excellence, and supporting integration and growth initiatives. Considering his extensive industry experience and leadership capabilities, the Board has re-designated Shri Chaitra Sundaresh as Chief Operating Officer – Motor & Generator Components Business with effect from 22nd October 2026. e) Disclosure of relationships between Directors (in case of appointment of Director) Not Applicable
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Appointment of Shri Avinash Arun Patil as Deputy Chief Operating Officer - Senior Management Personnel of the Company Sr.No. Particulars Details a. Reason for change viz., appointment, re- appointment, resignation, removal, death or otherwise Appointment as Deputy Chief Operating Officer b. Date of appointment/re-appointment / cessation (as applicable) & term of appointment/re-appointment; 22nd October 2026 c. Brief Profile Shri Avinash Arun Patil, aged 44 years, holds a Diploma in Mechanical Engineering, a Bachelor's degree in Mechanical Engineering, and a tailor-made e-MBA (AYEP). He has over 24 years of experience in operations management, strategic sourcing, supply chain management, cost transformation, and business leadership across the industrial and motor manufacturing sectors. He joined Pitti Engineering Limited in May 2024 and currently oversees the Company's Maharashtra operations, driving business growth, operational excellence, and sourcing initiatives. Prior to joining the Company, he held leadership positions at CG Power and Industrial Solutions Limited, including Business Head – Stampings Division and SCM Head – Motor Business, where he led large-scale manufacturing and supply chain operations. Considering his extensive experience and proven leadership capabilities, the Board has approved the promotion of Shri Avinash Arun Patil as Deputy Chief Operating Officer with effect from 22nd October 2026. Consequent to his promotion, he shall form part of the Senior Management Personnel of the Company. d. Disclosure of relationships between Directors (in case of appointment of a director). Not Applicable.