Pursuant to Regulation 34 and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are uploading herewith the 46th Annual Report of the Company ....

Regd. Offi./ Works D VPI.LOL.. SBHAANIDNHSAA,N , 22-kMm.A WSATNONAE , - M2E5E04R0U1T,- MAU.WPA. NA( IRNODAIDA,] Mob.: 8126131100 Websie: wn pPapers L papers.com SOPLCO05138| [PANNO : AACCS4253]| GSTIN : WAACCS42531275 To, 01/09/2026 Bombay Stock Exchange Limited Corporate Relationship Deptt. 1st Floor, New Trading Ring, Rotunda Building, P. J. Towers, Dalal Street, Fort, Mumbai-400001 Scrip Code:516096 Subject: Annual Report of the Company for the financial year 2025-2026 Dear Sir/Madam, Pursuant to Regulation 34 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, please find enclosed herewith, the Annual Report of the Company for the financial year 2025-2026 including notice of 46" Annual General Meeting to be held on 23rd" Day of September, 2026. This is for your information and record. Thanking You, For SANGAL PAPERS LIMITED Anant Vats Company Secretary & Compliance Officer Mem. No: F-5575 Encl: As above 46th (Forty-Sixth) ANNUAL REPORT F.Y.-1st APRIL 2025 TO 31st MARCH 2026 2025-2026 SANGAL PAPERS LIMITED CORPORATE INFORMATION CIN: L21015UP1980PLC005138 BOARD OF DIRECTORS Executive Directors Mr. Himanshu Sangal Managing Director Mr. Amit Sangal Whole Time Director/CFO Non- Executive and Non - Independent Directors Mr. Tanmay Sangal Director/President -Marketing Mr. Vinayak Sangal Director/ President – Operations Non-Executive and Independent Directors Mr. Sapan Sodhi Director cum Chairman Mrs. Vartika Malik Women Director STAKEHOLDER RELATIONSHIP COMMITTEE Mrs. Sapan Sodhi Chairperson Mrs. Vartika Malik Member Mr. Himanshu Sangal Member AUDIT COMMITTEE Mr. Vartika Malik Chairperson Mr. Sapan Sodhi Member Mr. Himanshu Sangal Member NOMINATION AND REMUNERATION COMMITTEE Mrs. Vartika Malik Chairperson Mr. Sapan Sodhi Member Mr. Vinayak Sangal Member COMPANY SECRETARY Mr. Anant Vats BANKER: Axis Bank, Civil Lines, Meerut- U.P. REGISTRAR & SHARE TRANSFER AGENT: MAS SERVICES LIMITED, T- 34, 2nd Floor, Okhla Industrial Area, Phase-II, New Delhi – 110 020 E-mail:sm@masserv.com, investor@masserv.com Website:www.masserv.com Phone No.: 011-26387281- 82-83 SCRIP CODE: 516096 LISTEDON: BSE (Bombay Stock Exchange) SCRIP ID: SANPA ISIN: INE384D01022 ISSUER CODE: 384D STATUTORY AUDITORS: M/s Raj Viyom & Co., Chartered Accountants Formerly known as (M/s RAJ SANDHYA & Co.) 572/7, Bhartiya Colony, Muzaffarnagar, U.P. - 251001 SECRETARIAL AUDITOR: CS. D.K. GUPTA (D.K. Gupta & Co.), Practicing Company Secretary, 164, Behind Baijal Bhawan, Civil Lines, Meerut, U.P.-250002 COST AUDITORS M/S S.R. KAPUR Practicing Cost Accountant AGF-16, Ansal Courtyard Bypass NH-58, Meerut-250001 REGISTERED OFFICE: Sangal Papers Limited, Vill, Bhainsa, 22km stone, Meerut- Mawana Road, Mawana, Meerut, UP- 250401 E-mail :accounts@sangalpapers.com and sangalinvestors1980@gmail.com Website: www.sangalpapers.com CONTENTS S.NO. SECTION PAGE NUMBER 1. NOTICE 1-15 2. DIRECTOR’S REPORT 16-36 3. SECRETARIAL AUDIT REPORT 37-42 4. SECRETARIAL COMPLIANCE REPORT 43-52 5. CORPORATE GOVERNANCE REPORT 53-71 6. MANAGEMENT DISCUSSION AND ANALYSIS REPORT 72-76 7. CERTIFICATE OF DISQUALIFICATION OF DIRECTORS 77 8. INDEPENDENT AUDIT REPORT 78-89 9. BALANCE SHEET 90 10. STATEMENT OF PROFIT AND LOSS ACCOUNT 91 11 CASH FLOW STATEMENT 92-93 12. STATEMENT OF CHANGES IN EQUITY 94 13. NOTES FORMING PART OF FINANCIAL STATEMENTS 95-131 Message from the Managing Director of Sangal Papers Limited Dear Stakeholders, I extend my warmest greetings to you on behalf of Sangal Papers Limited. It is once again my pleasure to present the Annual Report of your Company for the Financial Year 2025-26, highlighting our performance and milestones over the past year. Our Company has continuously adapted its policies and strategies to navigate an evolving global economic environment, balancing both Indian and international markets. We maintain a strong competitive advantage through our diverse product portfolio, which includes Kraft Paper, Writing-Printing Paper, and Speciality/Color Paper, Newsprint Paper. Notably, our specialization in manufacturing a wide range of high-quality colour papers has made Sangal Papers a name synonymous with excellence in the color paper segment. In addition to our business objectives, we remain deeply committed to our environmental responsibilities and improving the quality of life in our surrounding communities. We believe sustainability efforts are vital to securing long-term growth and creating enduring value for our shareholders. Furthermore, we continue to actively explore new domestic and international markets where we can further leverage our competitive edge. During the financial year 2025-26, the Company achieved a turnover of ₹179.34 crores, with an Operating Profit (EBITDA) of ₹7.51 crores. These figures reflect a marginal decline compared to the previous year, primarily due to challenging geopolitical conditions, tariff volatility, and fluctuating currency exchange rates that impacted our overall financial performance. However, a major milestone this year was the successful installation of a new 4.5 MW turbine in March 2026, replacing the older 3 MW unit. Accompanied by strategic modifications to our plant and machinery, this upgrade has effectively doubled our installed production capacity from 33,000 to 66,000 Tons Per Annum (TPA)—a significant achievement for the Company. Please note that the financial impact of this expansion is not reflected in the FY 2025-26 results, as the installation was completed at the very end of the fiscal year in March 2026, requiring a temporary one-month plant shutdown. We are confident that this enhanced capacity will yield significantly better financial results in the coming years. Given the highly abnormal global conditions, the Company's performance for the year remains resilient and satisfactory. We are optimistic about achieving stronger growth in the near future as supply chains stabilize and geopolitical situations ease, allowing smoother export and import operations. Yours’ Sincerely, Himanshu Sangal Managing Director SANGAL PAPERS LIMITED CIN: L21015UP1980PLC005138 Registered Office: Village Bhainsa, 22Km Meerut - Mawana Road, Mawana - 250 401, Distt. Meerut(U.P) E-Mail ID: sangalinvestors1980@gmail.com | Website: sangalpapers.com | Contact No.: 9997708723 NOTICE TO MEMBERS NOTICE is hereby given under the provisions of Section 101 of the Companies Act, 2013, that the Forty- Sixth (46th) Annual General Meeting (AGM) of the Members of SANGAL PAPERS LIMITED will be held on Wednesday, September 23, 2026, at 01:30 P.M. (IST) through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”) to transact the following business: ORDINARY BUSINESS: Item No. 1: Adoption of Financial Statements To receive, consider and adopt the Audited Standalone Financial Statements of the company for the financial year ended March 31, 2026, together with the Report of the Board of Directors and the Auditors thereon. Item No. 2: Re-appointment of Mr. Tanmay Sangal To re-appoint Mr. Tanmay Sangal (DIN: 01297057) who retires by rotation and, being eligible, offers himself for re-appointment. Item No. 3: Re-appointment of Mr. Vinayak Sangal To re-appoint Mr. Vinayak Sangal (DIN: 06833351) who retires by rotation and, being eligible, offers himself for re-appointment. SPECIAL BUSINESS: Item No. 4: Ratification of Remuneration of Cost Auditors To consider and, if thought fit, to pass with or without modification(s), the following Resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Section 148 and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014 and the Companies (Cost Records and Audit) Rules, 2014 (including any statutory modification(s) or re-enactment(s) thereof for the time being in force), the consent of the members of the Company be and is hereby accorded to the ratification of payment of remuneration of ₹40,000/- (Rupees Forty Thous [Showing first 8,000 characters — download PDF for full document]