Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed the Annual Report of the Company for the FY 2025-26.

Date: September 3, 2026 BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Exchange Plaza, Plot No. C-1, G Block, Bandra-Kurla Mumbai - 400 001 Complex, Bandra (East), Mumbai - 400 051 Scrip Code: 544243 Trading Symbol: STYLEBAAZA Dear Sir/Madam, Subject: Annual Report for the Financial Year ended March 31, 2026 Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Annual Report of the Company, which inter-alia includes the Notice of the 13th Annual General Meeting scheduled to be held on Friday, September 25, 2026 at 11:00 A.M. through Video Conferencing or Other Audio Visual Means (VC/OAVM). The same will be made available on the Company’s website at https://stylebaazar.in/. We request you to kindly take the aforesaid information on record. For Baazar Style Retail Limited Abinash Singh Chief Compliance Officer, Company Secretary and Head - Legal & Compliance Encl: As above Baazar Style Retail Limited PS Srijan Tech Park, DN-52, 12th Floor, Sector-V, Salt Lake, North 24 Parganas, West Bengal 700091 t: (033) 61256125 e: info@stylebaazar.com www.stylebaazar.in CIN No: L18109WB2013PLC194160 (cid:31)(cid:30)(cid:30)(cid:29)(cid:30)(cid:28)(cid:27)(cid:26)(cid:25)(cid:24)(cid:23)(cid:22)(cid:27)(cid:21)(cid:22)(cid:25)(cid:30)(cid:20)(cid:23)(cid:27)(cid:19)(cid:20)(cid:18)(cid:20)(cid:25)(cid:22)(cid:17) Style Rising (cid:16)(cid:15)(cid:15)(cid:14)(cid:30)(cid:23)(cid:27)(cid:21)(cid:22)(cid:13)(cid:12)(cid:28)(cid:25)(cid:31)(cid:31)(cid:30)(cid:31)(cid:29)(cid:28)(cid:31)(cid:27) 01 CORPORATE OVERVIEW Honouring The Life and Legacy of Shri Rajendra Surana Ji 02 Style of Rising Bharat 04 Table of Who we Are 06 Key Highlights 08 Journey and Milestone 10 Our Presence 12 Content Our Offerings 14 Message from the Chairman 18 Message from the Managing Director 22 Whole Time Director’s Communique 24 Market Opportunity 28 Strategic Imperatives 32 Operational Excellence 38 Branding Initiatives 40 Risk Management and Mitigation 46 Financial Highlights 49 Environment 50 Corporate Social Responsibility 52 Our People 56 Our Leadership 58 Awards & Accolades 62 Corporate Information 64 02 NOTICE Notice of 13th AGM 2026 67 03 STATUTORY REPORTS Management Discussion and Analysis Report 81 Directors’ Report and Annexures 96 Business Responsibility & Sustainability Report 125 Corporate Governance Report 165 04 FINANCIAL STATEMENTS Standalone 200 Consolidated 267 INVESTOR INFORMATION Market capitalisation (as ₹ 2,036 Crores on 31st March, 2026) CIN L18109WB2013PLC194160 NSE code STYLEBAAZA For more investor-related information, BSE code 544243 please visit: AGM Venue Virtual https://stylebaazar.in/investors Honouring The Life And Legacy Of SHRI RAJENDRA SURANA JI At Baazar Style, our journey has always been guided by the The inauguration was marked by a heartfelt pledge from enduring vision and values of our mentor, Shri Rajendra employees across the organisation, reaffirming their Surana Ji, whose principles continue to inspire every commitment to uphold the principles that Shri Rajendra milestone we achieve. His unwavering belief in integrity, Surana Ji exemplified. This collective affirmation reflects humility, commitment, and a customer-first philosophy laid our shared responsibility to preserve the culture of integrity, the foundation of an organisation built on trust, purpose, and humility, excellence, and customer-centricity that remains at long-term relationships. the heart of our business. To honour this enduring legacy, we inaugurated the As we continue the journey of growth and transformation, Founder’s Legacy Corner—a dedicated space that serves as we remain deeply committed to carrying forward the a lasting tribute to his life, leadership, and the values that vision of our mentor. His legacy is not only reflected in our continue to define our culture. More than a commemorative past achievements but also in the values that guide every initiative, it stands as a daily reminder of the ideals that has decision we make, every relationship we build, and every shaped our journey and will continue to guide its future. customer we serve. His vision built our foundation. His values continue to light our path forward. 02 Annual Report 2025-26 Baazar Style Retail Limited 03 Style of Rising Bharat Corporate Overview A new Bharat is emerging—young, ambitious, digitally connected, and increasingly confident in expressing its individuality. Driven by the aspirations of Gen Z and Style young millennials, the country’s growth story is no of longer confined to metropolitan cities. Across Tier II, Rising III and IV towns, rising disposable incomes, greater internet penetration, improved infrastructure, and expanding access to organised retail are reshaping consumer behaviour. Today’s generation seeks fashion that reflects its personality, values, and aspirations, while remaining accessible and affordable. This transformation is creating one of the most compelling retail opportunities in India’s history. As Bharat embraces new lifestyles without losing its cultural roots, fashion has evolved beyond necessity into a powerful expression of identity, confidence, and self-belief. Consumers are increasingly looking for contemporary designs, superior quality, and value-driven offerings that resonate with their evolving preferences. At Baazar Style, we are proud to be at the heart of this transformation. Our deep understanding of regional markets, customer-first philosophy, and commitment to making fashion accessible enable us to serve the aspirations of million of families across emerging India. Every store we open, every collection we curate, and every customer experience we create reflects the confidence and optimism of a nation on the rise. Our journey is intrinsically linked with the aspirations of a new generation—one that is redefining fashion, embracing opportunity, and shaping the Style of Rising Bharat. 04 Annual Report 2025-26 Baazar Style Retail Limited 05 Style of Rising Bharat Corporate Overview Who we Are Redefining Fashion For Core values To foster a cooperative mindset and work harmoniously as a team, ensuring mutual benefits for Emerging India the organisation, employees, and customers. We aim to deliver value for money while promoting a sustainable business model that benefits both society and the planet. S T Y L E Baazar Style Retail Limited (hereafter “Our Company” or “We” or BSRL) is redefining value fashion by making style accessible, Simplicity Teamwork Yield best Learning Empower output for affordable, and relevant for millions of everyone Indian families. Since our inception in 2013, B A A Z A R we have evolved into one of Eastern India’s leading specialty value fashion retailers, combining deep regional understanding Best Practice Amaze Active Zeal Adaptation Recognition with a customer-first approach to create engaging shopping experiences. Anchored in trust, quality and affordability, Baazar Style Our Unique Proposition Retail Limited operates a differentiated specialty retail model through our flagship Style Baazar and Express Eastern India Leadership Baazar formats, offering a comprehensive portfolio of apparel, footwear, accessories, home essentials, beauty Established in 2013 and headquartered in Kolkata, we have built a dominant cluster-led products, toys, stationery, and lifestyle merchandise for presence across 263 stores in 9 states and 191 cities (as of March 31, 2026). With ~35% of the entire family. Our cluster-based expansion strategy, revenue generated from West Bengal, our cluster-based expansion strategy enhances supply complemented by an extensive network of 263 stores chain efficiency, strengthens regional brand visibility and optimises marketing investments. across 191 cities in nine states as of March 31, 2026, enables us to build deep regional connect, enhance supply One-Stop Family Fashion Destination chai [Showing first 8,000 characters — download PDF for full document]