Annual Report for Financial Year 2025-26.

IEL LIMITED Reg. Off. - Office No: 53, 6th Floor, Sanidhya Complex, Near Devnandan Mall, Opp. Sanyas Ashram, Nehru Bridge, Ashram Road, Ahmedabad – 380006, Gujarat, INDIA. Phone: +91 7801937978 Website: www.iellimited.com, E-mail: iellimitedamd@gmail.com CIN - L15140GJ1956PLC124644 02nd September 2026 The Department of Corporate Service (DCS-CRD) BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001 Ref: IEL LIMITED SECURITY CODE NO.: 524614 Sub.: FILING OF 70TH ANNUAL REPORT 2025-26 UNDER REGULATION 34(1) THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015. Dear Sir, Please refer to our letter dated 10th August 2026 intimating that the 70th Annual General Meeting (“AGM 2026”) of the Members of the Company is scheduled to be held on Monday, 28th September 2026 at 03:00 PM IST through Video Conferencing (VC) or Other Audio Video Means (OAVM). Pursuant to Regulation 30 and 34(1) of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) as amended from time to time, we are submitting herewith the copy of the Annual Report 2025-26 of the Company. As per the circulars issued by Ministry of Corporate Affairs and SEBI, the aforesaid documents are electronically dispatched to those members whose email IDs are registered with the Company / MUFG Intime India Private Limited (Formerly “Link Intime India Private Limited”) ("Registrar and Share Transfer Agent" of the Company) or the Depositories. The Annual Report 2025-26 will also be uploaded on the Company’s website. You are requested to kindly take note of the above and display the same on notice of the exchange. Thank you, Yours faithfully, For and on behalf of IEL Limited Ajay B. Gupta Managing Director DIN – 07542693 Enclosed: A/a IEL Limited IEL LIMITED 70th ANNUAL REPORT 2025-26 70th Annual Report 2025-26 IEL Limited Index Sr. No. Particulars Page Numbers 1 Corporate Information 1 2 Notice to the Members 2 3 Board of Directors’ Report 12 4 Annexure to the Board of Directors’ Report 23 5 Management Discussion and Analysis Report 46 6 Statutory Auditors’ Report 48 7 Balance Sheet 56 8 Profit & Loss Account 57 9 Cash Flow Statement 58 10 Notes Forming Part of Financial Statements 60 70th Annual Report 2025-26 IEL Limited CORPORATE INFORMATION BOARD OF DIRECTORS : MR. AJAY BHOLANATH GUPTA Chairman & Managing Director : MR. ARPIT SINGH Non-Executive and Non-Independent Director : MS. JUHI SAJWANI Independent Director (upto 07.08.2025) : MS. AVANI SHAH Independent Director (Upto 07.08.2025) : MS. AASTHA JAIN Independent Director (w.e.f. 07.08.2025) : MS. AMI PRIYANK BHANSHALI Independent Director (w.e.f. 07.08.2025) : MS. MOKSHI PRAKASHBHAI SHAH Independent Director (w.e.f. 07.08.2025) COMPANY SECRETARY & COMPLIANCE OFFICER : Mr. Kunal Jain CHIEF FINANCIAL OFFICER : Mr. Arpit Singh STATUTORY AUDITORS : M/s Maark & Associates, Chartered Accountants BANKERS : Kotak Mahindra Bank Limited INTERNAL AUDITOR : M/s S. Mandawat & Co., Chartered Accountants SECRETARIAL AUDITOR : M/s Kunal Sharma & Associates, Company Secretaries REGISTERED OFFICE : Office No 53, 6th Floor, Sanidhya Complex, Near Devnandan Mall, Opp. Sanyas Ashram, Nehru Bridge, Ashram Road, Ellisbridge, Ahmedabad, Gujarat-380006, India Phone: +91 7801937978, Website: www.iellimited.com E-Mail: iellimitedamd@gmail.com CIN NO : L15140GJ1956PLC124644 REGISTRAR AND : MUFG Intime India Private Limited (Formerly Known as SHARE TRANSFER AGENT (RTA) Link Intime India Private Limited C 101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400083. Phone: 022 – 49186270, Fax: 022 – 49186060, Email ID-rnt.helpdesk@linkintime.co.in, Website www.in.mpms.mufg.com 70th Annual Report 2025-26 IEL Limited NOTICE OF THE 70TH ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT THE (70TH) SEVENTIETH ANNUAL GENERAL MEETING (“AGM”) OF THE MEMBERS OF IEL LIMITED (“THE COMPANY”) WILL BE HELD THROUGH VIDEO CONFERENCING (“VC”) OR OTHER AUDIO-VISUAL MEANS (“OAVM”) ON MONDAY, 28TH SEPTEMBER 2026 AT 03:00 PM IST TO TRANSACT THE FOLLOWING BUSINESSES: ORDINARY BUSINESS: 1. ADOPTION OF THE ANNUAL AUDITED STANDALONE FINANCIAL STATEMENTS AND REPORTS THEREON: To receive, consider, approve and adopt the Audited Standalone Financial Statements of the Company for the financial year ended 31st March 2026 together with the Reports of the Board of Directors’ and the Auditors’ thereon, by passing the following Resolution as an Ordinary Resolution: “RESOLVED THAT the Audited Standalone Financial Statements of the Company for the financial year ended 31st March 2026, along with the reports of the Board of Directors and Auditors thereon, as circulated to the Members be and are hereby received, considered and adopted.” 2. APPOINTMENT OF MR. AJAYKUMAR BHOLANATH GUPTA AS A DIRECTOR RETIRING BY ROTATION: To consider and if thought fit to approve appointment of a director in place of Mr. Ajaykumar Bholanath Gupta (DIN – 07542693) as a director, who is retiring by rotation and being eligible, offers himself for re-appointment, by passing the following Resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Section 152 and other applicable provisions, if any, of the Companies Act, 2013, and the rules made thereunder including any statutory modification(s) or re-enactment thereof for the time being in force, Mr. Ajaykumar Bholanath Gupta (DIN – 07542693), Director (Executive and Managing Director) of the Company, who retires by rotation at this meeting and being eligible offers himself for re-appointment, be and is hereby re-appointed as a Director (Executive and Managing Director) of the Company who shall be liable to retire by rotation in accordance with the provisions of the Companies Act, 2013.” By order of the Board of Directors For IEL Limited Sd/- 10th August 2026 Ajaykumar Bholanath Gupta Ahmedabad Managing Director DIN - 07542693 Registered office: Office No 53, 6th floor, Sanidhya Complex, Near Devnandan mall, Opp. Sanyas Ashram, Nehru Bridge, Ashram Road, Ellisbridge, Ahmedabad, Gujarat, India, 380006 Phone: +91 7801937978, Website: www.iellimited.com E-mail: iellimitedamd@gmail.com, CIN - L15140GJ1956PLC124644 NOTES: 1. In view of the various circulars issued by the Ministry of Corporate Affairs (“MCA Circulars”) and the Securities and Exchange Board of India (“SEBI Circulars”) from time to time and in compliance with the provisions of the Companies Act, 2013 (“the Act”) and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), the 70th Annual General Meeting (“AGM”) of the Members of the Company is being conducted through Video Conferencing or Other Audio Visual Means (“VC / OAVM”), which does not require physical presence of members at a common venue. The deemed venue for the AGM shall be the Registered Office of the Company. Hence, the Members can attend and participate at the ensuing AGM through VC/OAVM, and physical attendance of Members is not required. 70th Annual Report 2025-26 IEL Limited 2. Pursuant to the provisions of Section 108 of the Act read with Rule 20 of the Companies (Management and Administration) Rules, 2014 (as amended) and Regulation 44 of the Listing Regulations, MCA Circulars and SEBI Circulars as referred above, the Company is providing facility of remote e-voting to its Members in respect of the businesses to be transacted at the AGM. For this purpose, the Company has entered arrangement with Central Depository Services Limited (CDSL), for facilitating voting through electronic means, as the authorized e-Voting’s agency. The facility of casting votes by a member using remote e-voting as well as the e-voting system on the date of the AGM will be provided by CDSL. 3. Pursuant to MCA Circulars, the facility to appoint a proxy to attend and cast vote for the members is not available for this AGM. However, the Body Corporates are entitled to appoint authorised representati [Showing first 8,000 characters — download PDF for full document]