Enclosed herewith is the Annual Report for the Financial Year 2025-26 of Keerthi Industries Limited.

1st September, 2026 The BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, M Samachar Marg, Fort, Mumbai, Maharashtra 400001 Scrip Code: 518011 Subject: Annual Report for the Financial Year 2025-26 Dear Sir/Madam, Pursuant to Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith is the Annual Report for the Financial Year 2025-26 which inter alia includes the Notice of the 43rd Annual General Meeting of the Company. The Annual Report is sent to all the members of the Company only through electronic mode, who have registered their email addresses with the Company/Depositories. You are requested to kindly take note of the above. Thanking You, Yours faithfully, For Keerthi Industries Limited Anupama Iyer Company Secretary and Compliance Officer Encl: Annual Report for FY 2025-26 43rd Annual Report 2025-26 Suvarna Cements – Pure Gold among Cements In the loving memory of Shri. J. S. Krishna Murthy Founder and Chairman, HBC Group of Companies “Your vision and dedication continue to inspire and guide us every day. Your legacy lives on in every achievement we make. CONTENTS A. CORPORATE OVERVIEW 04-07 i) About the Company 04 ii) Leadership Messages 05 iii) Corporate Information including 07 Board of Directors and Committee Members B. STATUTORY REPORTS 08-49 i) Management & Discussion Analysis 08-09 ii) Notice of the Annual General Meeting 10-18 iii) Board’s Report 19-26 iv) Annexures to the Board Report 27-33 v) Report on Corporate Governance 34-45 vi) Annexures to the Corporate Governance Report 46-49 C. FINANCIAL REPORTS 50-95 i) Independent Auditor’s Report 50-57 ii) Balance Sheet 58 iii) Profit and Loss Statement 59 iv) Cash Flow Statement 60 v) Statement of Changes in Equity 62 vi) Notes forming part of Financial Statement 63-95 About Keerthi Industries Keerthi Industries (KEERTHI), originally incorporated as production capacity from 900 TPD to 1,600 TPD and Suvarna Cements Limited on 17th May, 1982 commenced cement grinding capacity to 1,900 TPD. commercial cement manufacturing operations in During the recent period, the plant has operated 1986. Owing to financial challenges, the Company was intermittently due to the continued downturn and registered with the Board for Industrial and Financial challenging market conditions in the South Indian cement Reconstruction (BIFR) in 1989. sector. A significant turning point came during 1999-2000 when the present management assumed control of the Electronics Division (Divested during FY 2025-26) Company and successfully implemented a comprehensive The Electronics Division traces its origins to Hyderabad turnaround strategy. Through focused operational Flextech Limited, which was incorporated in December improvements, prudent financial management and 1992 as a 100% Export Oriented Unit (EOU) under the strategic initiatives, the Company restored its net worth Electronic Hardware Technology Park (EHTP) Scheme of to positive levels resulting in its de-registration from BIFR the Ministry of Electronics, Government of India. In 2010, in 2002. Hyderabad Flextech Limited became part of Keerthi Industries Limited through a strategic merger marking As part of the management’s vision for diversification at the Company’s entry into the electronics manufacturing that time, the company was renamed Keerthi Industries sector and diversifying its objectives. Limited in 2005. The registered and administrative office is located at Plot No. 40, IDA, Balanagar, As part of its ongoing strategic initiatives to strengthen Hyderabad-500037, Telangana, India. its financial position, the Company had approved the sale and divestment of its Electronics Division during FY Cement Division 2025-26. Pursuant to a Business Transfer Agreement, the The Cement Division, one of the Company’s core business Electronics Division business including the associated segments, is located at Mellacheruvu Village & Mandal, intellectual property, identified assets and contracts was Suryapet District, Telangana - 508246. The Division transferred as a going concern on a slump sale basis to manufactures Ordinary Portland Cement (OPC) in 43 and Keerthi Holdings Private Limited (Formerly known as 53 grades as well as Portland Pozzolana Cement (PPC) Hyderabad Bottling Co. Private Limited). The transaction under the well-established brand named as “SUVARNA was approved by the Board of Directors and subsequently CEMENT”. by the shareholders, enabled the Company to unlock the value from the business and significantly reduce its debt The Company has undertaken capacity expansions obligations. The proceeds from the transaction provided in a phased manner. The plant’s clinker production additional liquidity to support the continued operations capacity was increased from 300 TPD to 900 TPD in of the Cement Division during a challenging period for 2003. Subsequently, in September 2010, the Company the industry and strengthened the Company’s overall completed a major expansion enhancing the clinker financial position. CORPORATE OVERVIEW | STATUTORY REPORTS | FINANCIAL REPORTS Leadership Messages Dear Shareholders, I welcome this opportunity to address our shareholders and present our reflections on the financial year 2025-26. The year continued to be challenging for the Company, particularly due to difficult market conditions in the South Indian cement industry, including pricing pressure, supply-demand imbalances and increasing input costs. During the year, the Company completed the divestment of its Electronics Division through a slump sale to Keerthi Holdings Private Limited (Formerly known as Hyderabad Bottling Co. Private Limited). The transaction significantly reduced the Company’s debt obligations and provided additional liquidity to support the Cement Division during this challenging period. As a result of the transaction and subsequent debt repayments, the Company currently has no institutional debt. Despite these measures, the difficult conditions in the cement market have continued. The cement plant has been operating intermittently, and the Company has taken further steps to align costs and staffing levels with current operating requirements. These are difficult decisions, and I would like to thank our employees for their commitment and support during this period. In parallel, the Company is taking steps to monetize non- core assets, including surplus land, where appropriate. With the Company currently having no institutional debt, the management is also pursuing fresh working capital financing to improve liquidity and provide greater operating flexibility. The Board and management continue to closely evaluate the Company’s position and the options available to it. Our priority is to navigate the present market conditions prudently while taking actions that preserve the Company’s financial position and maximize value for our shareholders. I thank our shareholders, employees, customers, lenders, business partners and other stakeholders for their continued trust and support. Warm regards, Triveni Jasti Chairperson & Whole Time Director Dear Shareholders, The financial year 2025-26 continued to be a difficult year for the cement business. We faced significant pricing pressure, supply-demand imbalances, intense competition and increasing input costs, which affected the Company’s operating performance. The Management remained focused on controlling costs, managing working capital and improving operating efficiencies wherever possible. As difficult market conditions continued, the cement plant has been operating intermittently, and we have taken further steps to align our cost structure and staffing levels with the current operating requirements. We continue to closely manage production, costs and liquidity while pursuing additional working capital financing to provide greater operating flexibility. Our immediate focus remains on managing the business prudently through the present market conditions. Safe [Showing first 8,000 characters — download PDF for full document]