20th Annual Report for the Financial Year 2025-26

To, Date: 03rd September, 2026 Department of Corporate Services Bombay Stock Exchange Limited 25th Floor, P. J. Tower, Dalal Street, Fort, Mumbai- 400 001. Dear Sir/Madam, Sub: Annual Report for the Financial Year 2025-2026 of the Company. REF: NIS MANAGEMENT LIMITED (SCRIP CODE: 544495) In compliance with Regulation 34(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Annual Report of the Company for the financial year 2025-2026 to be approved and adopted by the Members of the Company in the 20th Annual General Meeting of the Company going to be held on Friday, 25th September, 2026 at 12:00 P.M. through Video Conferencing (“VC”) / Other Audio-Visual Means (“OAVM”). Please take the same on your records. Thanking you, FOR, NIS MANAGEMENT LIMITED DEBAJIT CHOUDHURY MANAGING DIRECTOR DIN: 00932489 Date: 03rd September, 2026 Place: Kolkata Enclosed: As Above NIS Management Ltd.ISO 9001:2015 Certified CIN: L74110WB2006PLC108679 Regd. Office: 1st Floor, FI-1A (W), 489, Madurdaha, Kalikapur, Kolkata – 700 107, West Bengal Phone: 91 33 2443 2026, Fax: 91 33 2443 2026, E- mail: info@nis.co.in, Website: www.nis.co.in Annual Report 2025-26 Annual Report 2025-26 NIS Management Limited *Image Disclaimer: The images featured in this Annual Report are predominantly AI-generated, except for select images sourced from other references. What’s I n s i d e Company Overview About NIS 04 Key Fact & Figures 05 Journey 06 What We Do 08 Where We Operate 10 Operating Environment 11 Business Model and Strategy 12 Letter to Shareholders 14 Board of Directors 16 Statutory Report Corporate Information 17 Notice 18 Directors’ Report 28 Management Discussion And Analysis 52 Financial Statements Standalone Independent Auditor’s Report 57 Standalone Financial Statements 66 Notes To Standalone Financial Statements 69 Consolidated Independent Auditor’s Report 95 Consolidated Financial Statements 101 Notes To Consolidated Financial Statements 105 Forward-Looking Statement In this Annual Report, we might have disclosed forward-looking statements that set out anticipated results based on the management’s plans and assumptions. We cannot guarantee that these forward- Scan QR To looking statements will be realized, although we believe we have been prudent in our assumptions. View The Report The achievements of results are subject to risks, uncertainties, and inaccurate assumptions. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Annual Report 2025-26 NIS Management Limited About Key Facts & Figures NIS Management Limited NIS Management Limited is one of eastern India’s What Makes established providers of organised security and Vision The Business Defensible 18,673 integrated facility management services. The Company deploys and manages a workforce of We shall become a stellar corporation. A approximately 18,000 people across around 1,500 million families will smile in NIS. NISTARS will Employees as on March 2026 client sites in 14 states, serving more than 600 clients A four-decade operating record in a trust business. get sustainable security, health, education drawn from government departments, public sector Security and facility management are bought on and respect for themselves and their families. undertakings, corporate houses, banks, hospitality reliability and compliance history. A 1985 founding We shall not let a single NISTAR die uncared, groups, manufacturing units, healthcare institutions, date, an unbroken client list and repeat business from suffer unattended and their family ever stare airports, education and retail. long-standing accounts are difficult for a new entrant ~1,500 at hopelessness in crisis. We shall make profit to replicate. honourably and professionally. We all together The business began in 1985 as a firm named will delight our clients. Coal picked up from National Investigation and Security, founded by Mr A workforce supply engine the Company owns. Group Client sites the bottom of the pyramid will be sparkling Debajit Choudhury to provide integrated security entities Keertika Academy Private Limited — an NSDC- diamonds in our client’s sites. solutions. In March 2006 the firm was incorporated recognised training partner — and Keertika Education as NIS Management Private Limited. In June 2018 & Associates operates four ITIs under the PPP model it converted to a public limited company and took in partnership with the Government of West Bengal. 14 its present name. On 2 September 2025 its equity In an industry where recruitment and attrition are the shares were listed on the BSE SME platform following binding constraints on growth, owning the training States an initial public offering. pipeline is a structural advantage. What began as manned guarding has become a multi- Diversification across service lines and client service platform. Alongside security, the Company sectors. No single service line accounts for a majority Mission provides housekeeping and soft services, technical of revenue, and the client base spans government, maintenance and support, payroll and workforce PSU and private sectors, which reduces dependence We shall be a professional service firm providing administration, electronic security and surveillance, on any one segment or budget cycle. complete security & facility management investigation and due diligence, and — through group solutions. We shall achieve significant market A conservative capital structure. Net worth has been entities — skill development and vocational training. share in all relevant segments and financial built through sustained accretion to reserves over Most manpower contracts are structured on the adequacy for growth and sustenance. many years, supplemented by the FY26 primary issue. industry-standard wage-plus-service-charge model, which passes statutory wage costs through to the Compliance as a moat in a formalising industry. client and prices the Company’s service separately. Tightening statutory requirements have raised the cost of operating informally, easing price-based The Company is accredited to ISO 9001:2015 and competition from unorganised players and shifting operates a specialist internal cell, staffed by senior demand towards providers that can demonstrate professionals, that develops security standard scale and compliance operating procedures, manuals, crisis management plans, contingency planning and occupational safety and health policies for client sites. Annual Report 2025-26 NIS Management Limited Journey 2026 2010 First full financial year 2019 as a listed company. Workforce reaches Total income of ₹436.70 2024 7,500. Integrated facility crore, EBITDA of ₹33.53 1985 1996 management division Approximately crore, and a record fourth launched, marking the move 16,000 personnel quarter. ICRA revises the ICRA reaffirms ratings at beyond manned guarding deployed across 11 long-term rating outlook [ICRA]BBB+ (Stable) / [ICRA] Founded as National Three additional security into soft services and states, to Positive. Workforce A2 and removes them from Investigation and divisions added. technical maintenance. approximately 18,673 the Issuer Not Cooperating Security, a firm Workforce crosses 500 across around 1,500 sites category. Two independent established by Mr personnel. in 14 states. directors appointed in Debajit Choudhury September, strengthening the to provide integrated Board ahead of listing. security solutions. Operations begin with five security guards at one site. 2006 Incorporated as NIS Management Private 2018 2020 2025 Limited in March. Network 1986 expands to nine branches Initial public offering on the across six states with Converted to a public Despite COVID-19 BSE SME platform. Bidding First airport security a workforce of 4,000. limited company in restrictions and an 25–28 August at ₹111 per contract, in Bihar, Keertika Academy [Showing first 8,000 characters — download PDF for full document]