Pursuant to Regulation 34(1) of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations 2015, please find attached herewith Annual Report of Kanishk ....

EIGHTH ANNUAL REPORT F I N A N C I A L Y E A R 2 0 2 5 - 2 6 KANISHK ALUMINIUM INDIA LIMITED (formerly known as Kanishk Aluminium India Private Limited) CIN: U27109RJ2018PLC063198 Plot No. E-849 A, Fourth Phase RIICO, Boranada, Jodhpur, Rajasthan 342001 8th Annual Report 2025-26 KANISHK ALUMINIUM INDIA LIMITED Contents OVERVIEW Page no. Chairman’s Speech Our Business 6-12 Initial Public Offer (IPO) Overview 13-15 Corporate Information 16-17 GOVERNANCE AND MANAGEMENT REPORTS Directors Report along with Annexures 19-37 Management Discussion and Analysis Report 38 - 53 Managing Director and Chief Financial Officer Certification 54-55 Declaration under Regulation 34(3) read with Schedule V of SEBI (LODR) Regulations, 2015 FINANCIAL STATEMENTS OF THE COMPANY Independent Auditors Report on Standalone Financial Statements 58-74 Standalone Financial Statements 75-105 SHAREHOLDER INFORMATION General Shareholder Information 107-108 Notice of the Eighth Annual General Meeting of the Company 109-127 This Annual Report is prepared in accordance with the Companies Act, 2013 and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as applicable to companies listed on the SME Platform of BSE Limited. Kanishk Aluminium India Limited 8th Annual Report 2025-26 S E C T I O N 0 1 Overview — Chairman’s Speech — Our Business — Initial Public Offer (IPO) Overview — Corporate Information Kanishk Aluminium India Limited 8th Annual Report 2025-26 MESSAGE FROM THE LEADERSHIP CHAIRMAN'S MESSAGE Dear Shareholders, There is a moment on our shop floor that I have watched for four decades and never tired of. A heated billet of aluminium is pushed into the press. Enormous pressure is applied. On its own, that pressure would only deform the metal. But when the same pressure is applied through a precisely cut die, the billet does not merely yield — it emerges as a profile: straight, dimensionally accurate, repeatable, and fit for a purpose someone else has Parmanand Agarwal already imagined. Chairman & Managing Director That is the simplest description I can offer of the year your Company has DIN: 08295200 just completed. The pressure was real and it was external. What changed in FY 2025-26 is that we had, at last, cut the die. The pressure needs no elaboration for anyone who follows our industry. Aluminium is an exchange- traded commodity and its price is set at the London Metal Exchange, far from Boranada and entirely outside our control. Around that price sit rising energy costs, freight that moves with events in distant sea lanes, growing imports of aluminium products and scrap into the domestic market, and a real estate and construction cycle that has never been a straight line. A manufacturer of extrusions does not get to choose the conditions in which it operates. It only gets to choose what it does with them. Pressure alone deforms metal. Pressure applied through a well-cut die creates form. FY 2025-26 was the year your Company cut its die. Set against those conditions, the wider picture is more favourable than it has been in many years. India is now the second largest producer of primary aluminium in the world and the third largest consumer, and yet our per capita consumption stands at roughly 3.4 kilograms against a world average of 11 to 12 kilograms. That gap is not a weakness; it is the entire opportunity of the next decade, and it will be closed by infrastructure, by housing, by the solar build-out and by the steady substitution of wood and steel with aluminium in the buildings we live and work in. Demand for aluminium extrusions in India is estimated to have grown from about 7.95 lakh tonnes in 2025 to approximately 8.58 lakh tonnes in 2026, comfortably ahead of the growth in primary metal itself. The value in this industry is migrating downstream, towards customised, engineered and finished products. That is precisely where your Company has chosen to stand. Kanishk Aluminium India Limited 8th Annual Report 2025-26 THE YEAR IN REVIEW A year of form, not merely of volume Your Company recorded total income of ₹ 7,886.91 Lakhs for the year under review, against ₹ 6,015.24 Lakhs in the previous financial year — growth of approximately 31.11%. Profit before tax stood at ₹ 556.65 Lakhs against ₹ 420.15 Lakhs, and profit after tax at ₹ 411.93 Lakhs against ₹ 304.45 Lakhs, a growth of approximately 35.31%. Earnings per equity share, basic and diluted, improved to ₹ 4.10 from ₹ 3.23. I would draw your attention less to the growth itself than to its shape. Profit after tax grew faster than income. The cost of materials consumed rose to ₹ 6,411.36 Lakhs from ₹ 5,465.15 Lakhs — an increase, but a more moderate one than the increase in income. In a business where material is the dominant cost and its price is set elsewhere, a widening gap between the two is the clearest evidence I know that the operation itself is improving. Better yields, better absorption, better mix. The die is doing its work. ₹ 7,886.91 L ₹ 556.65 L ₹ 411.93 L ₹ 4.10 Total Income Profit Before Tax Profit After Tax Earnings Per Share +31.11% YoY +32.49% YoY +35.31% YoY FY25: ₹ 3.23 THE LISTING From a family enterprise to a public company On 4 February 2026, the equity shares of your Company were listed and commenced trading on the SME Platform of BSE Limited, following an Initial Public Offering of 40,00,000 equity shares of face value ₹ 10 each at ₹ 73 per share, aggregating ₹ 2,920.00 Lakhs. The net proceeds are being applied to the objects set out in the Prospectus: the repayment and pre-payment of certain borrowings, the branding and promotion of ‘Baari by Kanishk’, and general corporate purposes. I want to be careful about what this milestone means and what it does not. It does not, by itself, make us a better manufacturer. What it does is change the standard we are held to. A journey that began in 1984 with P. N. Agarwal & Co., a trading house serving western Rajasthan, now answers to a public register of shareholders, to quarterly disclosure, and to an audit and governance framework that applies whether or not the year has gone well. Your Company sought that discipline deliberately. Capital was the occasion; accountability is the point. The extrusion line and press operations at the Company’s manufacturing unit, Boranada, Jodhpur. Kanishk Aluminium India Limited 8th Annual Report 2025-26 BUILDING THE NEXT DECADE A brand, a network and a die bank For most of our history we sold a profile. Increasingly, we sell a system. ‘Baari by Kanishk’ — our range of aluminium system doors and windows, spanning casement, sliding, lift-and-slide and slide- and-fold series — is the clearest expression of that shift, supported by an experience centre at Jodhpur and a growing network of exclusive fabricators across several states. A window is not a commodity. It is judged by how it closes after ten years, by how it keeps the monsoon out, by whether the architect who specified it would specify it again. That is a far harder business to enter, and a far harder one from which to be displaced. Behind the brand sits the die bank, which I regard as the most undervalued asset on our balance sheet — chiefly because it does not appear there in any way that reflects its worth. Every die we cut is a customer requirement we can meet tomorrow without asking anyone else. Our die shop can produce approximately one hundred dies a month. Each one widens the range of problems we are able to solve, and each one is a small, permanent addition to our competitive position. We also continued to diversify deliberately — into solar and renewable energy profiles, into architectural and railing systems, into engineering and electrical applications — so that no single end- use cycle determines our year. The Company operates in a single reportable business segment, but it does not depend on a single kind of customer, and that distinction matters. OUR PEOPLE Forty-four people, and the syste [Showing first 8,000 characters — download PDF for full document]