Shareholders meeting

September 03, 2026 Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex, Dalal Street Bandra (East) Mumbai – 400 001 Mumbai – 400051 Scrip Code: 544418 Name of Scrip: OSWALPUMPS Sub.: Notice of 23rd Annual General Meeting and the Annual Report the Financial Year 2025-26 Dear Sir/ Madam, Pursuant to the provisions of Regulation 30, 34 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulation’) and further to our letter dated September 01, 2026 informing about the 23rd Annual General Meeting (‘AGM’) of the Company scheduled to be held on Friday, September 25, 2026 at 1400 hours (IST) through Video Conference (‘VC’)/ Other Audio Visual Means (‘OAVM’) in compliance with the applicable circulars and/ or guidelines issued by the Ministry of Corporate Affairs (‘MCA’) and the Securities and Exchange Board of India (‘SEBI’) (‘Circulars’), we wish to inform the following: 1. The Annual Report for the Financial Year 2025-26 and the Notice of AGM are being sent through electronic mode to all the Members of the Company whose email addresses are registered with the Company/ Registrar & Transfer Agent (‘RTA’)/ Depository Participants (‘DP’). 2. In accordance with Regulation 36 and other applicable provisions of the SEBI Listing Regulation, a physical communication is also being sent to those Members whose email IDs are not registered with the Company/ RTA/ DP, containing the weblink and exact path of the Company’s website from where the Notice of the AGM and the Annual Report for the FY 2025-26 can be accessed. 3. The Company is providing the facility to the Members to vote by electronic means (remote e- voting as well as e-voting at the AGM) on all the resolutions set out in the Notice of AGM, who will be holding shares as on the cut-off date i.e. Friday, September 18, 2026. The remote e-voting period will commence from Monday, September 21, 2026, at 0900 hours and will end on Thursday, September 24, 2026 at 1700 hours. Detailed instructions for remote e-voting and e-voting/ attendance at the AGM are provided in the Notice of AGM. 4. The entire shareholding of the Company is in dematerialized form. 5. The Annual Report for the Financial Year 2025-26, the Notice of AGM and the physical communication are enclosed herewith. These documents are also available on the Company’s website at https://oswalpumps.com/. You are requested to take the same on records. Thanking you, Yours faithfully, For Oswal Pumps Limited Anish Kumar Company Secretary and Compliance Officer Encl.: As above FROM PUMPS TO POSSIBILITIES ENERGISING INDIA’S CLEAN GROWTH Annual Report FY2025-26 CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS Solar|Domestic|Agriculture|Industrial True Partner! Table of Contents Corporate Information Board of Directors Internal Auditors Corporate Overview Statutory Reports Mr. Vivek Gupta M/s J V K S & Co., Chairman and Managing Director Chartered Accountants (Firm registration no. 318086E) Management Discussion & Mr. Amulya Gupta 01 Corporate Information 45 Analysis Whole Time Director Secretarial Auditors Message from the Chairman 02 and Managing Director 62 Board’s Report Mr. Shivam Gupta M/s Amit Shukla & Associates, Whole Time Director 04 About Oswal Pumps Company Secretaries 86 Corporate Governance Report Mr. Vikas Modi (ICSI Firm Registration No. S2017HR481400) 05 Built for Tomorrow Non-Executive Independent Director Vision, Mission and Core Subsidiaries 06 Mr. Sandeep Garg Purpose Non-Executive Independent Director Oswal Solar Energy Private Limited 07 Value Propositions Financial Statements (Formerly known Oswal Solar Structure Private Ms. Kanchan Vohra limited) 08 Corporate Structure Non-Executive Independent Director (CIN: U29200HR2022PTC100779) Independent Auditor's Report 10 Key Highlights FY26 104 Oswal Green Industries Private Limited on Standalone Financial Chief Financial Officer (CIN: U31900HR2022PTC101112) 12 Review by CFO Statements Mr. Vijay Kumar Yadav Walso Solar Solution Private Limited Standalone Balance Sheet 14 Operational Highlights 114 (Appointed effective August 08, 2026) (CIN: U25110HR2024PTC120909) (Associate till June 07, 2026 and Subsidiary since June 08, 2026) Scale Today - Visibility Standalone Statement of Profit Tomorrow and loss Company Secretary & Compliance Officer Registrar and Share Transfer Agent 16 Key Milestones 116 Standalone Statement of Changes in Equity Mr. Anish Kumar MUFG Intime India Private Limited 17 FY26 Awards and Recognitions (Formerly known as Link Intime India Private Limited) Standalone Statement of Cash 118 (CIN: U67190MH1999PTC118368) 20 The Oswal Business Model Flows Bankers Value Creation Model Six 119 Notes forming part of State Bank of India Capitals Standalone Financial Kotak Mahindra Bank Limited Statements 24 Product Portfolio Yes Bank Limited Independent Auditor's Report Revenue Mix by Channel and 181 Citi Bank N.A. 25 on Consolidated Financial Scheme Statements 26 Market Opportunity Statutory Auditors Consolidated Balance Sheet 27 Strategic Imperatives M/s Singhi & Co., 191 Consolidated Statement of Chartered Accountants 28 Manufactured Capital Profit and loss (Firm registration no. 302049E) Consolidated Statement of 32 Intellectual Capital 192 changes in equity 34 Human Capital Consolidated Statement of 37 Social and Relationship Capital Cash Flows Notes forming part of 38 CSR Activities FY26 195 Consolidated Financial 40 Natural Capital Statement 42 Board of Directors Corporate Governance Philosophy 2 Oswal Pumps Limited Annual Report 2025-26 1 CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS Solar|Domestic|Agriculture|Industrial True Partner! Message from the Chairman and Managing Director and just fourteen months for the most recent 50 GW. a central government outlay of roughly ₹75,000 This compression is not an accident of policy timing; crore and an allocation of ₹22,000 crore for FY27 it reflects falling costs, improving execution capability specifically. We began with our first order under across the industry, and a level of government this programme and the rooftop solar SPV we set commitment, at both the central and state level, up in partnership with Doon Infrapower for projects that has become structural rather than cyclical. in Rajasthan, and have since built on this with a We installed roughly 45 GW of solar capacity as a 63 MW rooftop solar award across Bihar. Together, country in FY26 alone, which is itself a useful marker these represent a deliberate effort to diversify the of how quickly the baseline has shifted. foundations of our business, so that our growth rests on more than one vertical. Within this larger story, our own business sits at the intersection of two distinct but related demand pools. What ties these two demand pools together, in our The first is agricultural. There remain close to 8 million view, is that both are underwritten by something diesel pump connections in use across Indian farms more durable than incentive structures: India's today, representing what independent estimates agricultural sector needs a credible alternative to place at a roughly US$14.5 billion replacement diesel, and India's broader economy needs more opportunity for solar pumping systems. This is not domestically generated, reliably priced power. Policy a discretionary purchase for the farmers we serve; will continue to evolve, as it always does, but the it is a direct input into their cost of cultivation and underlying need on both sides is not something we their exposure to diesel price volatility. Programmes expect to reverse. like PM-KUSUM have given this transition a coherent Our task, as we see it, is straightforward to state even policy framework, and our work under Maharashtra's if it is not always straightforward to execute: continue Magel Tyala scheme this year, where our building the manufacturing dep [Showing first 8,000 characters — download PDF for full document]