Annual Report for the FY 2025-26 along with the notice convening 47th AGM, enclosed

1st September 2026 Listing Department BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400001, Maharashtra Scrip Code: 522134 Dear Sir/ Madam, Sub: Notice of 47th Annual General Meeting (AGM) along with Annual Report for the Financial Year 2025-26 (AGM documents) Pursuant to the Regulation 30 and 34 of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the corresponding schedules thereof, the Annual Report of the Company for the FY 2025-26 along with the notice convening 47th AGM of the Company to be held on Friday, 25th September 2026 at 15:00 Hrs. (IST) through Video Conference (VC) / Other Audio-Visual Means (OAVM), is enclosed. The same is sent through electronic mode to the shareholders of the Company, today i.e., 1st September 2026. The AGM documents are also available on the following link: https://artson.net/wp-content/uploads/2019/11/Financial-Year-ended-31st-March-2026.pdf The schedule of activities relating to the AGM is set out below: Event Day & Date Time Cut-off Date Friday, 18th September 2026 From Saturday, 19th September 2026 NA Book Closure To Friday, 25th September 2026 Start Tuesday, 22nd September 2026 09:00 Hrs. (IST) e-Voting End Thursday, 24th September 2026 17:00 Hrs. (IST) AGM Friday, 25th September 2026 15:00 Hrs. (IST) Service provider for e-voting National Securities Depository Limited platform & e-AGM (NSDL) This is for your information and records. For Artson Limited (Formerly Artson Engineering Limited) Sd/- Deepak Tibrewal Company Secretary & Compliance Officer (FCS 8925) Registered Office: Corporate Office: 14th Floor, Cignus, Plot No. 71A, Ground Floor, Mithona Towers-1, Kailash Nagar, Mayur Nagar Passpoli, 1-7-80 to 87, Prenderghast Road, Powai, Mumbai - 400087, Maharashtra, India. Secunderabad - 500003, Telangana, India. Tel: +91 22 66255600 Tel: +91 40 66018175 ARTSON LIMITED (Formerly Artson Engineering Limited) 47th ANNUAL REPORT 2025-26 Our Founder Jamsetji Nusserwanji Tata 03 March 1839 to 19 May 1904 In a free enterprise, the community is not just another stakeholder in business, but is in fact the very purpose of its existence. BOARD OF DIRECTORS ARTSON LIMITED Vinayak Pai Chairman (Non-Executive) Shashank Jha Subhra Gourisaria Neeraj Agrawal Whole-Time Director & CEO Non-Executive Director Non-Executive Director Jyotisman Dasgupta Priya Kher Ashish Kulkarni Independent Director Independent Director Independent Director KEY MANAGERIAL PERSONNEL Chief Financial Officer : Manoj Shah Company Secretary & Compliance Officer : Deepak Tibrewal Board’s Report BOARD OF DIRECTORS ARTSON LIMITED (Formerly Artson Engineering Limited) CIN: L27290MH1978PLC020644 (A Subsidiary of Tata Projects Limited) Registered Office: 14th Floor, Cignus, Plot No. 71A, Kailash Nagar, Mayur Nagar Passpoli, Powai, Mumbai - 400087, Maharashtra, India. Phone: +91 40 6601 8194; Email: investors@artson.net; Website: www.artson.net Hyderabad Office : Ground Floor, Mithona Towers-1, 1-7-80 to 87, Prenderghast Road, Secunderabad, Hyderabad - 500003, Telangana State. Tel. No. 040 6601 8194 Manufacturing Units : Nashik Unit: Vinayak Pai D-5, MIDC Ambad, Nashik - 422010; Maharashtra; Tel. No. 9860252880 Chairman (Non-Executive) Parli Unit: Survey No 5, Hissa No. - 1a, 1b, 1c, Village Parli, Taluka - Sudhagad, District Raigad - 410205, Maharashtra; Tel. No. 9689051478 Registrar and Share Transfer Agent : MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) # C 101, Embassy 247, L B S Marg, Vikhroli West, Mumbai - 400083; Tel. No: +91 22 4918 6000; Fax: +91 2249186060 Bankers : Catholic Syrian Bank Limited IndusInd Bank Limited DCB Bank Limited Kotak Mahindra Bank Limited Federal Bank Limited Union Bank of India Statutory Auditors : Price Waterhouse & Co. Chartered Accountants LLP (FRN-304026E/E300009) Internal Auditors : Aneja Associates, Chartered Accountants (FRN-100404W) Shashank Jha Subhra Gourisaria Neeraj Agrawal Whole-Time Director & CEO Non-Executive Director Non-Executive Director Secretarial Auditors : MKS & Associates, Company Secretaries (FRN-S2017TL460500) Cost Auditors : Sagar & Associates, Cost Accountants (FRN-000118) CONTENTS Page No. Whole-Time Director & CEO's Message 04 Notice Convening 47th Annual General Meeting (AGM) 06 Board’s Report 22 Annexures to the Board’s Report 35 Independent Auditors’ Report 52 Balance Sheet 64 Statement of Profit and Loss 65 Statement of Cash Flow 66 Statement of Changes in Equity 68 Notes to Financial Statements 69 Shareholder’s details updation form 110 Request for KYC updation 111 Dematerialization of shares 112 KEY MANAGERIAL PERSONNEL Information regarding re-lodgment of Transfer deeds 114 47th ANNUAL GENERAL MEETING Chief Financial Officer : Manoj Shah Date : Friday, 25th September 2026 Time : 15:00 Hrs. (IST) Company Secretary & Compliance Officer : Deepak Tibrewal Venue : V ideo Conference (VC) / Other Audio-Visual Means (OAVM) facility provided by the National Securities Depositories Limited (NSDL) FROM THE WHOLE-TIME DIRECTOR & CEO “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness … it was the spring of hope, it was the winter of despair. — Charles Dickens, A Tale of Two Cities, 1859 “It is always darkest just before the day dawneth.” — Thomas Fuller, A Pisgah-Sight of Palestine, 1650 Dear Shareholders, Last year I wrote to you that we would build capability before chasing backlog. FY 2025-26 was the year your Company paid the bill for that promise, and I would rather begin with the bill than the promise. Revenue from operations grew by 44% to ₹163.58 crore, compared with ₹113.5 crore from the previous year. The same year closed with a loss before tax of ₹16.19 crore and a loss after tax of ₹10.88 crore, against a profit before tax of ₹4.80 crore in the preceding year. After two consecutive profitable years, that is a difficult sentence to write, and I will not soften it. I would ask you, however, to read the loss for what it is. It is not a demand problem, and it is not a pricing problem. This cost is, to a substantial extent, attributable to two deliberate decisions: settling the past and emptying our factories to rebuild them. Settling the past Every project your Company began before 2023 has now been commissioned, settled or fully provisioned. At IOCL Paradip, the final tank was commissioned on 31 December 2025, ending close to a decade at a site that absorbed cyclones, a pandemic and repeated design change. We have demobilized completely. We exited the onerous mechanical contract at GRSE. We reconciled certain outstanding balances with our promoter, Tata Projects Limited. Where we believe we are owed money for time and cost that was not of our making, we are pursuing it through the contract and, where necessary, through arbitration. Consistent with prudent accounting, the full downside of these matters sits in this year’s statements; any recovery will be recognized only when it is concluded. I would rather your Company report an honest loss this year than carry an optimistic balance sheet into the next five. Nashik: emptying the shop floor on purpose Through the closing quarters of the year we deliberately ran our manufacturing facilities light so that we could rebuild them. That decision cost us revenue and it cost us margin. It bought us capacity, layout and approvals we could not have obtained while running full. Even so, Nashik had a year that speaks for itself. The unit manufactured twenty-four In-Bed Heat Exchangers in SS 316L to an external surface finish of Ra 0.2 μm, with 100% radiography of 3,140 tube-to-tube weld joints. Our engineers redesigned the assembly to bring those joints down from 4,896 to 3,140 while fully meeting the client’s specification. The order came to us only after a technical audit by Andritz Germany, in which Nashik was selected from among eight competing manufacturers across India. [Showing first 8,000 characters — download PDF for full document]