Interim report
Page 1
Adani Total Gas Limited Tel : +91 79 6624 3200 (Formerly known as Adani Gas Ltd) Fax: +91 79 2754 2988 Crest 4-5, Inspire Business Park investor.agl@adani.com Shantigram, Nr. Vaishnodevi Circle, www.adanigas.com S.G.Highway, Ahmedabad – 382 421 Gujarat, India CIN: L40100GJ2005PLC046553 Registered Office: “Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382421 July 21, 2026 BSE Limited P J Towers, Dalal Street, Mumbai – 400001 National Stock Exchange of India Limited Exchange plaza, Bandra-Kurla Complex, Bandra (E) Mumbai – 400051 Scrip Code: 542066 Scrip Code: ATGL Sub: Outcome of Board Meeting held on July 21, 2026 and submission of Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2026 as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) Dear Sir / Madam, With reference to above, we hereby submit/inform that the Board of Directors (“the Board”) at its meeting held on July 21, 2026, commenced at 1:45 p.m. and concluded at 3:00 p.m. has approved and taken on record the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2026. The said Unaudited Financial Results prepared in terms of Regulation 33 of the SEBI Listing Regulations together with the Limited Review Report of the Statutory Auditors are enclosed herewith. These results are also being uploaded on the Company’s website at www.adanigas.com You are requested to take the same on your records. Thanking you, Yours faithfully, For Adani Total Gas Limited Anil Agrawal Company Secretary Encl.: As above
Page 2
Walker Chandiok 8cCo LLP Walker Chandiok & Co LLP Block No. D/15th Floor, Cabin No. A8 to A10 “WestGate”Near YMCA Club, S.G Highway, Sarkhej Road, Ahmedabad-380015 Gujarat, India Independent Auditor’sReview Report on Consolidated Unaudited Quarterly Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Adani Total Gas Limited 1. We have reviewed the accompanying statement of unaudited consolidated financial results (‘the Statement’)of Adani Total Gas Limited (‘theHolding Company’)and its subsidiaries (the Holding Company and its subsidiaries together referred to as 'the Group’)and its joint ventures (refer Annexure 1 for the list of subsidiaries and joint ventures included in the Statement) for the quarter ended 30 June 2026, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (‘ListingRegulations'). 2. This Statement, which is the responsibility of the Holding Company’smanagement and approved by the Holding 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 the Companies Act, 2013 (‘theAct’),and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of 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. A review of interim financial information consists of making inquiries, primarily of persons 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 the Standards on Auditing specified under section 143(10) of the Act, 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. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable. Chartered Accountants Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and has its registered office at L-41,Connaught Circus, Outer Circle, New Delhi, 110001,India Offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Dehradun, Goa, Gurugram. Hyderabad, Indore, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune
Page 3
Walker Chandiok S^Co LLP Independent Auditor’s Review Report on Consolidated Unaudited Quarterly Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) 4. Based on our review conducted and procedures performed as stated in paragraph 3 above and upon consideration of the review reports of the other auditors referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We did not review the interim financial results of two subsidiaries included in the Statement, whose financial information reflects total revenues of ? 10.04 Crores, total net loss after tax of? 0.86 Crores, total comprehensive loss of ? 0.86 Crores, for the quarter ended on 30 June 2026, as considered in the Statement. The Statement also includes the Group’sshare of net profit after tax of ? 8.59 Crores and total comprehensive income of ? 8.59 Crores for the quarter ended on 30 June 2026, respectively, as considered in the Statement, in respect of two joint ventures, whose interim financial results have not been reviewed by us. These interim financial results have been reviewed by other auditors whose review reports have been furnished to us by the management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these subsidiaries I joint ventures is based solely on the review reports of such other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter with respect to our reliance on the work done by and the reports of the other auditors. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 Mehulkumar Sharadkumar Janani Partner Membership No. 118617 UDIN: 26118617UGULKR8112 Place: Ahmedabad Date: 21 July 2026 Chartered Accountants
Page 4
Walker Chandiok &Co LLP Independent Auditor’s Review Report on Consolidated Unaudited Quarterly Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) Annexure 1 List of entities included in the Statement Subsidiaries 1) Adani TotalEnergies Biomass Limited 2) Adani TotalEnergies E-Mobility Limited Joint ventures 1) Indian Oil - Adani Gas Private Limited 2) SmartMeters Technologies Private Limited Chartered Accountants
Page 5
ADANITOTALGASLIMITED (CINNo:L40100GJ2005PLC046553) RegisteredOffice:"AdeniCorporateHouse",Shantigram,NearVaishnoDeviCircle, S.G.Highway,Khodiyar,Ahmedabad382421 adaniGas Phone:079-26565555;Fax:079-26565500;Email:info@adani.com;Website:www.adanigas.com StatementofConsolidatedUnauditedFinancialResultsfortheQuarterendedJune30,2026 (^incrore,exceptperequitysharedata) QuarterendedYearended Sr. No.ParticularsJune30,2026March31,2026June30,2025March31,2026 Unaudited(refernote2)Unaudited(Audited) 1Income Revenuefromoperations1,906.791,694.611,498.326,408.53 Otherincome12.9812.068.1137.87 Totalincome1,919.771,706.671,506.436,446.40 2Expenses Costofmaterialsconsumed1.771.901.868.15 Costofnaturalgasandtradeditems1,302.511.064.10928.374,019.69 Changesininventories(0.67)(2.49)1.67(1.22) Exciseduty153.26137.39119.74514.12 Employeebenefitsexpenses13.4416.8313.6657.42 Financecosts39.1034.9127.60129.43 Depreciationandamortisationexpense66.6663.3855.61243.14 Otherexpenses166.37175.95139.84615.77 Totalexpenses1,742.441,491.971,288.355,586.50 3Profitbeforeshareofprofitfromjointventures andtax(1-2)177.33214.70218.08859.90 4Shareofprofitfromjointventures(net)9.5712.224.2121.99 5Profitbeforetax(3+4)186.90226.92222.29881.89 6Taxexpense Currenttax38.2043.2046.09172.59 Deferredtax6.9815.3810.9653.58 Totaltaxexpense45.1858.5857.05226.17 7ProfitfortheperiodZyear(5-6)141.72168.34165.24655.72 8Othercomprehensiveincome itemsthatwillnotbereclassifiedsubsequentlyto profitorloss(netoftax) -Re-measurementgain/(loss)ondefinedbenefit plans0.181.900.620.54 -Netgainsonequityinvestments Itemsthatwillbereclassifiedsubsequentlyto profitorloss(netoftax) 11.6811.68 -Effectiveportionof(loss)Zgainoncashflowhedge(0.76)16.73(2.69)17.32 Totalothercomprehensive(loss)Zincome(0.58)30.31(2.07)29.54 9TotalcomprehensiveincomefortheperiodZyear (7+8)141.14198.65163.17685.26 10Profitattributableto: OwnersoftheParent Non-controllinginterests 141.72168.34165.24655.72 11TotalothercomprehensiveincomeZ(loss) attributableto: OwnersoftheParent(0.58)30.31(2.07)29.54 Non-controllinginterests---- 12Totalcomprehensiveincomeattributableto: OwnersoftheParent141.14198.65163.17685.26 Non-controllinginterests---- 13Paid-upequitysharecapital(Facevalueof11each)109.98109.98109.98109.98 14Otherequity4,754.83 15Earningspershare(Facevalueof?1each) (notannualisedfortheinterimperiod): Basic&diluted(in?)1.291.531.505.96
Page 6
ADANITOTALGASLIMITED (CINNo:L40100GJ2005PLC046553) RegisteredOffice:"AdaniCorporateHouse",Shantigram,NearVaishnoDeviCircle, S.G.Highway,Khodiyar,Ahmedabad382421 adaniGas Phone:079-26565555;Fax:079-26565500;Email:info@adani.com;Website:www.adanigas.com Notes: 1TheaforesaidconsolidatedfinancialresultsofAdaniTotalGasLimited('theHoldingCompany')anditssubsidiaries (referredtogetheras'theGroup')anditsjointventuresforthequarterendedJune30,2026havebeenreviewedbythe AuditCommitteeandapprovedbytheBoardofDirectorsattheirrespectivemeetingsheldonJuly20,2026andJuly21, 2026andalimitedreviewofthesamehasbeencarriedoutbytheStatutoryAuditoroftheHoldingCompany. 2ThefiguresforthequarterendedMarch31,2026representthedifferencebetweentheauditedfiguresinrespectoffull financialyearandthepublishedunauditedfiguresoftheninemonthsendedDecember31,2025whichweresubjectto limitedreviewbytheauditor's. 3Theseconsolidatedfinancialresultshavebeenpreparedinaccordancewiththerecognitionandmeasurementprinciples laiddownintheIndianAccountingStandards('IndAS')34.InterimFinancialReporting(IndAS34)asprescribedunder Section133oftheCompaniesAct,2013("theAct")andotheraccountingprinciplesgenerallyacceptedinIndiaandisin compliancewiththepresentationanddisclosurerequirementsofRegulation33oftheSEBI(ListingObligationand DisclosureRequirements)Regulation.2015(asamended). 4TheGroup'sbusinessfallswithinasingleoperatingsegmentofsellinganddistributionofnaturalgas.Hence,thereareno otherreportablesegmentsintermsofrequirementsofIndAS108"OperatingSegments". 5TheHoldingCompanyhadsignedaDefinitiveAgreementonNovember03,2020foracquisitionof3GeographicalAreas namelyLudhiana,JalandharandKutch(East).DuringtheyearendedMarch31,2025theauthorizationforJalandharhad beentransferredtotheHoldingCompanybythePetroleumandNaturalGasRegulatoryBoard('thePNGRB').The intendedtransactionisyettobeconsummated. 6TheHon'bleSupremeCourtonSeptember28,2021hasdisposedofanappealfiledbytheHoldingCompanyclaiming deemedauthorizationforSanand,BavlaandDholka(OuterAhmedabadCity)tolayandmaintainthegasdistribution network.TheHoldingCompanyhassoughtsuitabledirectionsfromthePNGRBforthecomplianceofHon'bleSupreme Courtorder.ThecounterpartyhadfiledanappealbeforeAppellateTribunalforElectricity(APTEL)againstanorderof PNGRB.APTELthendisposed-offtheseappealsfiledwiththedirectionstoPNGRBtoadjudicatethematter.Assuchno financialimpacthasbeenconsideredintheseFinancialsResults. 7TheHoldingCompanyhasfiledanappealatAPTELchallengingtheimpugnedordersdatedApril25,2023andApril26, 2023,passedbythePNGRB,whereundertheHoldingCompany'sapplicationforauthorisationhasbeenrejectedin relationtothelaying,building,operatingandexpandingaCityGasDistributionNetworkinNoidaDistrict(including GreaterNoida)GeographicalAreaandalsoforbifurcatingFaridabadGAintoF1andF2andawardingF1tootherentity. 8Duringthefinancialyear2024-25,theHoldingCompany'smanagementbecameawareofanindictmentfiledbyUnited StatesDepartmentofJustice(USDOJ)andacivilcomplaintbySecuritiesandExchangeCommission(USSEC)inthe UnitedStatesDistrictCourtfortheEasternDistrictofNewYork(EDNY)againstanon-executivedirectoroftheHolding Company.Thedirectorisindictedonthreecountsnamely(i)allegedsecuritiesfraudconspiracy(ii)allegedwirefraud conspiracyand(iii)allegedsecuritiesfraudformakingfalseandmisleadingstatementsandasperUSSECcivilcomplaint, directoromittingmaterialfactsthatrenderedcertainstatementsmisleadingtoUSinvestorsunderSecuritiesActof1933 andtheSecuritiesActof1934.TheHoldingCompanyhasnotbeennamedinthesematters. AsatMarch31,2026,pursuanttovariousfilingsmadebythedirectorthroughtheirlegalcounsels,thematterremained pendingdeterminationbeforethecourt.Duringthecurrentquarter,USSEChavefiledarequestforentryoffinal judgementbeforeEDNY,uponobtainingtheconsentofthedirector,withoutadmittingordenyingtheallegations,onMay 15,2026.Aspertheproceedings,uponapprovalbyEDNY.suchfinaljudgementswillrequirethedirectortopaycertain civilmonetarypenalties,tosettlethecomplaint,entirely,asstatedabove.Also,USDOJfiledamotiontodismissthe chargesintheindictmentagainstthedirector,withprejudice,beforetheEDNYonMay18,2026.Thismotionisalso currentlypendingapprovalproceedingsbytheEDNY. Havingregardtothestatusoftheabove-mentionedmattersasatreportingdateandthefactthatthemattersstated abovedonotpertaintotheGroup,therewerenoimpacttotheGroupasonreportingdate. Place:Ahmedabad Date:July21,2026
Page 7
Walker Chandiok &Co LLP Walker Chandiok & Co LLP Block No. D/15th Floor, Cabin No. A8 to A10 “WestGate”Near YMCA Club, S.G Highway, Sarkhej Road, Ahmedabad-380015 Gujarat, India Independent Auditor’s Review Report on Standalone Unaudited Quarterly Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Adani Total Gas Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results ('the Statement') of Adani Total Gas Limited (‘theCompany') for the quarter ended 30 June 2026 being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (‘ListingRegulations’)). 2. The Statement, which is the responsibility of the Company’smanagement 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 (‘IndAS 34’),prescribed under section 133 of the Companies Act, 2013 (‘theAct'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of 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. A review of interim financial information consists of making inquiries, primarily of persons 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 the Standards on Auditing specified under section 143(10) of the Act, 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. Chartered Accountants Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and has its registered office at L-41, Connaught Circus, Outer Circle, New Delhi, 110001,India Offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Dehradun, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune
Page 8
Walker Chandiok 8<Co LLP Independent Auditor’sReview Report on Standalone Unaudited Quarterly Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) 4. Based on our review conducted as above nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 Mehulkumar Sharadkumar Janani Partner Membership No. 118617 UDIN: 26118617GOANXH7778 Place: Ahmedabad Date: 21 July 2026 Chartered Accountants
Page 9
ADANITOTALGASLIMITED (CINNo:L40100GJ2005PLC046553) RegisteredOffice:"AdaniCorporateHouse”,Shantigram,NearVaishnoDeviCircle, S.G.Highway,Khodiyar,Ahmedabad382421 adaniGas Phone:079-26565555;Fax:079-26565500;Email:info@adani.com;Website:www.adanigas.com StatementofStandaloneUnauditedFinancialResultsfortheQuarterendedJune30,2026 (Tincrore,exceptperequitysharedata) Sr. No.Particulars QuarterendedYearended June30,2026March31,2026June30,2025March31,2026 Unaudited(refernote2)Unaudited(Audited) 1Income Revenuefromoperations1,896.741,685.971,491.446,377.63 Otherincome13.4310.428.5237.41 Totalincome1,910.171,696.391,499.966,415.04 2Expenses Costofnaturalgasandtradeditems1,302.211,063.91928.114,018.69 Changesininventories(1.14)(2.01)1.640.05 Exciseduty153.26137.39119.74514.12 Employeebenefitsexpenses13.2516.0413.2055.17 Financecosts39.0134.8127.51129.05 Depreciationandamortisationexpense63.7260.3753.92233.19 Otherexpenses161.65171.46136.62601.72 Totalexpenses1,731.961,481.971,280.745,551.99 3Profitbeforetax(1-2)178.21214.42219.22863.05 4Taxexpense Currenttax38.2043.2046.09172.59 Deferredtax6.9815.3810.9653.58 Totaltaxexpense45.1858.5857.05226.17 5Profitfortheperiod/year(3-4)133.03155.84162.17636.88 6Othercomprehensiveincome Itemsthatwillnotbereclassified subsequentlytoprofitorloss(netoftax) -Re-measurementgain/(loss)ondefined benefitplans0.181.620.620.51 -Netgainsonequityinvestments Itemsthatwillbereclassifiedsubsequently toprofitorloss(netoftax) -11.68-11.68 -Effectiveportionof(loss)/gainoncashflow hedge(0.76)16.73(269)17.32 Totalothercomprehensive(loss)/income(0.58)30.03(2.07)29.51 7Totalcomprehensiveincomeforthe period/year(5+6)132.45185.87160.10666.39 8Paid-upequitysharecapital(Facevalueofif1 each)109.98109.98109.98109.98 9Otherequity4,714.03 10Earningspershare(Facevalueof1each) (notannualisedfortheinterimperiod): Basic8diluted(int)1.211.421.475.79
Page 10
ADANITOTALGASLIMITED (CINNo:L40100GJ2005PLC046553) RegisteredOffice:"AdaniCorporateHouse",Shantigram,NearVaishnoDeviCircle, adaniGas S.G.Highway,Khodiyar,Ahmedabad382421 Phone:079-26565555;Fax:079-26565500;Email:info@adani.com;Website:www.adanigas.com Notes: 1TheaforesaidstandalonefinancialresultsofAdaniTotalGasLimited('theCompany')forthequarterendedJune30, 2026havebeenreviewedbytheAuditCommitteeandapprovedbytheBoardofDirectorsattheirrespective meetingsheldonJuly20,2026andJuly21,2026andalimitedreviewofthesamehasbeencarriedoutbythe StatutoryAuditoroftheCompany. 2ThefiguresforthequarterendedMarch31,2026representthedifferencebetweentheauditedfiguresinrespectof fullfinancialyearandthepublishedunauditedfiguresoftheninemonthsendedDecember31,2025whichwere subjecttolimitedreviewbytheauditor's. 3TheseStandalonefinancialresultshavebeenpreparedinaccordancewiththerecognitionandmeasurement principleslaiddownintheIndianAccountingStandards('IndAS')34,InterimFinancialReporting(IndAS34)as prescribedunderSection133oftheCompaniesAct,2013("theAct”)andotheraccountingprinciplesgenerally acceptedinIndiaandisincompliancewiththepresentationanddisclosurerequirementsofRegulation33ofthe SEBI(ListingObligationandDisclosureRequirements)Regulation,2015(asamended). 4TheCompany'sbusinessfallswithinasingleoperatingsegmentofsellinganddistributionofnaturalgas.Hence, therearenootherreportablesegmentsintermsofrequirementsofIndAS108“OperatingSegments". 5TheCompanyhadsignedaDefinitiveAgreementonNovember03,2020foracquisitionof3GeographicalAreas namelyLudhiana,JalandharandKutch(East).DuringtheyearendedMarch31,2025theauthorizationforJalandhar hadbeentransferredtotheCompanybythePetroleumandNaturalGasRegulatoryBoard(‘thePNGRB').The intendedtransactionisyettobeconsummated. 6TheHon'bleSupremeCourtonSeptember28,2021hasdisposedofanappealfiledbytheCompanyclaimingdeemed authorizationforSanand,BavlaandDholka(OuterAhmedabadCity)tolayandmaintainthegasdistributionnetwork. TheCompanyhassoughtsuitabledirectionsfromthePNGRBforthecomplianceofHon'bleSupremeCourtorder. ThecounterpartyhadfiledanappealbeforeAppellateTribunalforElectricity(APTEL)againstanorderofPNGRB. APTELthendisposed-offtheseappealsfiledwiththedirectionstoPNGRBtoadjudicatethematter.Assuchno financialimpacthasbeenconsideredintheseFinancialsResults. 7TheCompanyhasfiledanappealatAPTELchallengingtheimpugnedordersdatedApril25,2023andApril26,2023, passedbythePNGRB.whereundertheCompany'sapplicationforauthorisationhasbeenrejectedinrelationtothe laying,building,operatingandexpandingaCityGasDistributionNetworkinNoidaDistrict(includingGreaterNoida) GeographicalAreaandalsoforbifurcatingFaridabadGAintoF1andF2andawardingF1tootherentity. 8Duringthefinancialyear2024-25,theCompany'smanagementbecameawareofanindictmentfiledbyUnited StatesDepartmentofJustice(USDOJ)andacivilcomplaintbySecuritiesandExchangeCommission(USSEC)inthe UnitedStatesDistrictCourtfortheEasternDistrictofNewYork(EDNY)againstanon-executivedirectorofthe Company.Thedirectorisindictedonthreecountsnamely(I)allegedsecuritiesfraudconspiracy(ii)allegedwirefraud conspiracyand(iii)allegedsecuritiesfraudformakingfalseandmisleadingstatementsandasperUSSECcivil complaint,directoromittingmaterialfactsthatrenderedcertainstatementsmisleadingtoUSinvestorsunder SecuritiesActof1933andtheSecuritiesActof1934.TheCompanyhasnotbeennamedinthesematters. AsatMarch31,2026,pursuanttovariousfilingsmadebythedirectorthroughtheirlegalcounsels,thematter remainedpendingdeterminationbeforethecourt.Duringthecurrentquarter,USSEChavefiledarequestforentry offinaljudgementbeforeEDNY,uponobtainingtheconsentofthedirector,withoutadmittingordenyingthe allegations,onMay15,2026.Aspertheproceedings,uponapprovalbyEDNY,suchfinaljudgementswillrequirethe directortopaycertaincivilmonetarypenalties,tosettlethecomplaint,entirely,asstatedabove.Also,USDOJfileda motiontodismissthechargesintheindictmentagainstthedirector,withprejudice,beforetheEDNYonMay18, 2026.ThismotionisalsocurrentlypendingapprovalproceedingsbytheEDNY. Havingregardtothestatusoftheabove-mentionedmattersasatreportingdateandthefactthatthematters statedabovedonotpertaintotheCompany,therewerenoimpacttotheCompanyasonreportingdate. Place:Ahmedabad Date:July21,2026 ForandonbfehalfoftheBoardofDirectors, SureshP.lyianglani ExecutiveDirector