Annual Report for the Financial Year 2025-26

Date: September 03, 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001 Scrip Code: 537326 Dear Sir/Madam, Sub.: Notice of the 30th Annual General Meeting of the Company and Annual Report for the Financial Year 2025-26 This is to inform you that 30th Annual General Meeting (“AGM”) of the Members of the Company will be held on Wednesday, September 30, 2026 at 11:00 A.M. (IST) through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”) to transact the businesses as listed in the Notice of AGM. Pursuant to the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (Listing Regulations), attached herewith is the Annual Report 2025-26 and Notice of the 30th Annual General Meeting of the Company to be held on Wednesday, September 30, 2026 at 11:00 A.M. (IST) through Video Conference/Other Audio Visual Means. The said Notice forms part of the Annual Report 2025-26 and same is being sent through electronic mode to those Members whose email addresses are registered with the Company/its Registrar and Transfer Agent (RTA)/Depositories. Further, pursuant to Regulation 36(1)(b) of the SEBI Listing Regulations, the Company has initiated sending a letter to the shareholders whose e- mail addresses are not registered with the Company/RTA/Depositories, providing a web-link for accessing the Annual Report of the Company. The Notice of 30th AGM and Annual Report for the Financial Year 2025-26 also available on the website of the Company and can be accessed at https://www.chemtechvalves.com/wp- content/uploads/2026/09/Notice-of-30th-A.G.M.pdf and https://www.chemtechvalves.com/wp-content/uploads/2026/09/Annual-Report-2025-26.pdf respectively. You are requested to take the same in your record and disseminate the same on your website. Thanking You, For CHEMTECH INDUSTRIAL VALVES LIMITED AAROHI PAREEK COMPANY SECRETARY AND COMPLIANCE OFFICER CHEMTECH INDUSTRIAL VALVES LIMITED Annual Report 2025-26 CHEMTECH INDUSTRIAL VALVES LIMITED ANNUAL REPORT 2025–26 CHEMTECH INDUSTRIAL VALVES LIMITED Annual Report 2025-26 INDEX No. Section Page 1 Company Overview 2 2 Corporate Information 4 3 Chairman's Statement 5 4 Management Discussion & Analysis 7 5 Board's Report 12 6 Corporate Governance Report 38 7 Independent Auditor's Report 56 8 Financial Statements 67 9 Significant Accounting Policies and Notes 100 10 Notice of the 30th Annual General Meeting 106 11 Information at a Glance 121 CHEMTECH INDUSTRIAL VALVES LIMITED Annual Report 2025-26 COMPANY OVERVIEW Chemtech Industrial Valves Engineering flow control since 1997 Chemtech Industrial Valves Ltd, Mumbai, is one of the At a Glance leading industrial valves manufacturers in India. The 1997 Company was founded in 1997 and is active in the Steel, Power, Fertilizers, Pulp & Paper, Water and Oil Year of founding & Gas segments. 20+ Years of technical know-how in critical applications Over the last two decades we have developed strong technical know-how for all critical applications in the industry and have developed several import Industry segments served substitute valves. SEGMENTS WE SERVE Iron & Steel Power · Fertilizers Water · Oil & Gas Our major focus. Integrated steel plants, Pulp & Paper alongside power Valves for water handling and oil & gas mini steel plants and EAF / DRI plants. generation and fertilizer process lines. service conditions. IMPORT SUBSTITUTION Strong technical know-how built over two decades has allowed the Company to develop several import substitute valves for critical applications in the Iron & Steel industry CHEMTECH INDUSTRIAL VALVES LIMITED Annual Report 2025-26 Our Reference Clientele Kerala State Electric Board CHEMTECH INDUSTRIAL VALVES LIMITED Annual Report 2025-26 Corporate Information REGISTERED OFFICE 503, 5th Floor, Sunrise Business Park, Plot No. B-68, Road No. 16, ABOUT THE COMPANY Wagle Estate, Thane (W), Mumbai - 400604 One of the leading industrial valves manufacturers in T 022-69753500 India, founded in 1997 and active in the Steel, Power, investors@chemtechvalves.com Fertilizers, Pulp & Paper, Water and Oil & Gas segments. www.chemtechvalves.com STATUTORY AUDITOR M/s. Raju & Prasad DIRECTORS AND KEY MANAGERIAL PERSONNEL 511, The Corporate Centre, Nirmal Lifestyle Mall, L.B.S. Marg, Mulund (W), Mumbai - 400 080 Mr. Harsh Pradeep Badkur Chairman & Managing Director SECRETARIAL AUDITOR Mr. Ignatious David Chittatukarakaran Inasu M/s. Pimple & Associates Whole-Time Director Office No. G-3, Building B, Labh Ashish, Old Police Lane, Andheri (E), Mumbai – 400069 Mr. Puneet Pradeep Badkur REGISTRAR AND SHARE TRANSFER AGENT Whole-Time Director & CFO Bigshare Services Pvt. Ltd Ms. Amita Jain Pinnacle Business Park, Office No. S6-2, 6th Floor, Mahakali Caves Additional Non-Executive Independent Director Road, Next to Ahura Centre, Andheri East, Mumbai, Maharashtra, India – 400093 Mrs. Manisha Yogesh Lakhani FACTORY Non-Executive Independent Director Chemtech Industrial Valves Ltd Mr. Hemant Goyal Survey No. 37, Kondala Road, Village Vadavali, Kudus, Taluka Wada, Non-Executive Independent Director Dist. Palghar – 421312 Ms. Aarohi Pareek BANKERS TO THE COMPANY Company Secretary and Compliance Officer • IndusInd Bank Ltd • The Bharat Co-Op. Bank (Mumbai) Ltd • Yes Bank Ltd CHEMTECH INDUSTRIAL VALVES LIMITED Annual Report 2025-26 Chairman’s Statement Dear Shareholders, It gives me great pleasure to welcome you all to the 30th Annual General Meeting of Chemtech Industrial Valves Limited. This year marks an important milestone in our journey — three decades of your Company's existence — and I am grateful for the opportunity to once again report to you as a body, and to share my perspective on where we stand and where we are headed. Let me begin with candour, as I always endeavour to do. FY 2025-26 was a year in which our topline and profitability moderated compared to the record year before it. I will not dress this up as anything other than what it is — a softer year on the P&L. But I want to spend the greater part of this address explaining why your Board views this as a pause on the way up, and not a change in direction. WHY WE REMAIN CONVINCED OF THE ROAD AHEAD Shareholders, when I addressed you last year, I spoke of India standing at the cusp of a large industrial Capex cycle across Steel, Power, Oil & Gas, Petrochemicals, Cement and Fertilizers. At the time, that opportunity was still intact — announced projects, planned expansions, and capacity additions, the pace of which existed more on paper than on the ground, due to unforeseen Global sentiments. However, this has changed materially over the last twelve months, and it has changed in the two sectors where your Company is best positioned: Steel and Power. We are no longer speaking of this Capex wave in anticipation — we are now seeing it translate into real, measurable business activity:  Firm enquiries and tenders have picked up sharply. Where last year we were tracking early-stage project announcements, this year we are being invited to quote against firm technical specifications and tenders, from both new Steel capacity being built out and Thermal and other Power projects moving from planning into execution. The number and size of such live enquiries in our pipeline today is meaningfully higher than at any point in the last few years.  Order booking is growing in a healthy manner. This is the clearest evidence that the Capex cycle is real and not merely anticipated. Our order booking has grown steadily over the previous year, and — importantly — the quality of this order book has improved, with a larger share coming from repeat and marquee accounts including Larsen & Toubro, AMNS India and Tata Steel, alongside new enquiries emerging from the Power sector. This is an important distinction for shareholders to internalise: revenue and profit for any given year reflect orders booked and executed in the past, while order booking reflects the business we will recognise as revenue in the per [Showing first 8,000 characters — download PDF for full document]