Notice of Annual General Meeting to be held on 25th September 2026

THE AMALGAMATED ELECTRICITY COMPANY LIMITED Regd. Office: G-1, Ground Floor, Nirmal Nest CHSL, Vayu Devta Mandir Complex, Borivali (W), Mumbai 400103. Tel: +91 22 67476080 CIN: L31100MH1936P1.C002497 E-mail: companysecretaryaecl @gmail.com To, Date: 02/09/2026 The Senior General Manager, (Listing Compliance Manager) BSE Limited 24t Floor, P.J. Towers, Dalal Street, Fort, Mumbai - 400 001 Scrip Code: 501622 Subject: Notice convening the 91st Annual General Meeting of the Company Reference: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Respected Sir/Madam, We hereby inform that the 91st Annual General Meeting of the Company is scheduled to be held on Friday, September 25, 2026, at 03.00 P.M. through Video Conferencing (VC)/ Other Audio Visual Means (OAVM) . A copy of the Notice convening the 91st Annual General Meeting is attached herewith. Kindly take the above on your records. Thanking you, Yours faithfully, For Amalgamated Electricity Company Limited Aradhana Kurup Additional Director DIN: 07957633 THE AMALGAMATED ELECTRICITY COMPANY LIMITED 91ST ANNUAL REPORT AND ACCOUNTS FY 2025 – 2026 AMALGAMATED ELECTRICITY COMPANY LIMITED INDEX Sr. No. Particulars Page No. Corporate Information — Board of Directors, Key Managerial Personnel, Auditors, Bankers and Committees 2 Notice of the 91st Annual General Meeting 3 3 Board's Report 19 4 Annexures to the Board's Report 29 5 Independent Auditor's Report 39 Financial Statements — Balance Sheet, Statement of Profit and Loss, Statement 6 of Changes in Equity, Cash Flow Statement and Notes to the Financial 52 Statements ANNUAL REPORT 2025-2026 CORPORATE INFORMATION: BOARD OF DIRECTORS: Aradhana Kurup(DIN: 07957535) : Executive Director Ashith Nagindas Kampani (DIN: 00787535) : Independent Director Ravindranath Reddy Banka(DIN: 10640869) : Independent Director Jay Nareshbhai Tillani (DIN: 11812895) (w.e.f.13th July 2026): Somesh Yag Ratanchand Kapai (DIN:0246139 : Non- executive, Non Independent Director Independent Director KEY MANAGERIAL PERSONNEL (KMP): Mr. Mangesh Narayan Shirodkar : Chief Financial Officer Mr. Kodlu Ramakrishna Abhijit : Company Secretary(APNPA4344P) w.e.f. 18.05.2026 Ms. Gaurav Sakpal : Company Secretary (BQRPA5131L) Resigned on 15/04/2026 REGISTERED OFFICE: G-1, Ground Floor, Nirmal Nest CHSL, Vayu Devta Mandir Complex, Borivali (W) Mumbai 400103 T: +91 22 67476080 e-Mail: companysecretaryaecl@gmail.com CORPORATE IDENTITY NUMBER (CIN) : L31100MH1936PLC002497 STATUTORY AUDITORS: M/s. Vatsaraj & Co 204-205, Inizio Business Centre, Cardinal Gracious Road, Chakala, Andheri East Mumbai 400099 e-Mail:admin@vatsarajco.com SECRETARIAL AUDITOR: Sharvari Kulkarni & Associates Company Secretary in Practice Address: 108, 4th cross, BDA layout, Anjanapura, Bangalore 560083 BANKERS: The South Indian Bank Limited ICICI Bank Limited DETAILS OF COMMITTEES AUDIT COMMITTEE: Name Category Ashith Nagindas Kampani Chairperson Ravindranath Reddy Banka Member Jay Tillani Member Somesh Yag Ratanchand Kapai Member NOMINATION & REMUNERATION COMMITTEE: Name Category Ashith Nagindas Kampani Chairperson Ravindranath Reddy Banka Member Jay Tillani Member Somesh Yag Ratanchand Kapai Member STAKEHOLDERS RELATIONSHIP COMMITTEE: Name Category Ashith Nagindas Kampani Chairperson Ravindranath Reddy Banka Member Jay Tillani Member Somesh Yag Ratanchand Kapai Member ANNUAL REPORT 2025-2026 REGISTRAR & SHARE TRANSFER AGENTS MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services (Formerly Link Intime India Private Limited) C-101, Embassy 247, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083. URL: http://www.in.mpms.mufg.com/ e-Mail: ali.shaikh@in.mpms.mufg.com LISTED AT : BSE Limited ISIN : IN WEBSITE : www.aecl.net E-MAIL ID : companysecretaryaecl@gmail.com ANNUAL REPORT 2025-2026 NOTICE NOTICE is hereby given that the NINETY FIRST ANNUAL GENERAL MEETING of the Members of THE AMALGAMATED ELECTRICITY COMPANY LIMITED will be held on FRIDAY, SEPTEMBER 25, 2026 at 3:00 through Video Conferencing (―VC‖) / Other AudioVisual Means (―OAVM‖) to transact the following business: ORDINARY BUSINESS: 1. To receive, consider 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 Auditors thereon and if thought fit, to pass 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 together with the reports of the Board of Directors and Auditors thereon, as circulated to the members, be and are hereby approved and adopted‖. 1. To appoint a director in place of Ms. Aradhana Kurup (DIN: 07957633), who retires by rotation and being eligible, offers himself for re-appointment and, in this regard, to consider and if thought fit, to pass the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to Section 152 and other applicable provisions, if any, of the Companies Act, 2013 and Rules made thereunder (including any statutory modification(s) and/or re-enactment(s) thereof, for the time being in force) read with the Articles of Association of the Company, Ms. Aradhana Kurup (DIN: 07957633), who retires by rotation at this ensuing Annual General Meeting of the Company, and being eligible, seeks re-appointment, be and is hereby re-appointed as an Executive Director of the Company.‖ 2. To appoint Vatsaraj & Co, Chartered Accountants (Firm Registration No. 111327W), as the Statutory Auditors of the Company and, in this regard, to consider and if thought fit, to pass the following resolution as an Ordinary Resolution: “RESOLVED THAT, pursuant to the provisions of Sections 139, 141 and 142 and other applicable provisions, if any, of the Companies Act, 2013, read with the Companies (Audit and Auditors) Rules, 2014, including the provisions relating to rotation of auditors, and applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, and pursuant to the recommendation of the Audit Committee and the Board of Directors of the Company, M/s Vatsaraj & Co, Chartered Accountants (Firm Registration No. 111327W), who have furnished their consent to act as Statutory Auditors of the Company and a certificate confirming that their appointment, if made, would be in accordance with the conditions prescribed under the Companies Act, 2013 and the rules made thereunder, be and are hereby appointed as the Statutory Auditors of the Company, to hold office from the conclusion of this Annual General Meeting until the conclusion of the Annual General Meeting of the Company to be held in the year 2030, at such remuneration as may be determined by the Board of Directors of the Company in consultation with the Statutory Auditors. RESOLVED FURTHER THAT, for the purposes of determining the tenure and compliance with the provisions relating to rotation of auditors, the period during which M/s Vatsaraj & Company, Chartered Accountants has functioned as the Statutory Auditors of the Company for the financial year 2025–26 shall be taken into account. RESOLVED FURTHER THAT, the Board of Directors of the Company, including the Audit Committee thereof, be and is hereby authorised to finalise and revise the remuneration payable to the Statutory Auditors, including reimbursement of out-of-pocket expenses and applicable taxes, in accordance with applicable law.‖ SPECIAL BUSINESS: 3. To appoint Ms. Aradhana Kurup (DIN: 07957633), as a Managing Director of the Company To consider and if thought fit, to pass, with or without modifications(s), the following resolution as an Ordinary Resolution: ANNUAL REPORT 2025-2026 “RESOLVED THAT pursuant to the provisions of Sections 196, 197, 198, 203 and other applicable provisions, if any, of the Companies Act, 2013 (―Act‖), read with Sch [Showing first 8,000 characters — download PDF for full document]