42nd Annual Report of the Company for the Financial Year 2025-26

Date: 04th September, 2026 BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai-400001 Scrip Code: 531635; ISIN: INE870J01019 Dear Sir/Ma’am, Subject: Submission of Annual Report pursuant to Regulation 34(1) for the Financial Year 2025- Dear Sir/Ma’am, In Pursuance of Regulation 34(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby enclose Annual Report for the Financial Year 2025-26. The same is available on the Company’s website at www.silveroakindia.co.in. Kindly take on note of the same and acknowledge. Thanking You For Silver Oak (India) Limited Anshika Singhai Company Secretary and Compliance Officer SILVER OAK (INDIA) LIMITED Annual Report We remain committed to our mission of creating long-term value for our shareholders 2026 0731-4064864 silveroak.indore@gmail.com www.silveroakindia.co.in Princes’ Business Skypark, Indore, M.P. TABLE OF CONTENTS 01 Corporate Information 02 Message from Whole-Time Director 02-04 03 Notice of 42nd Annual General Meeting 05-22 04 Director’s Report & Annexures 23-66 05 Management Discussions&Analysis Report 67-72 06 Corporate Governance Report 73-94 07 Financial Statements 95-187 MESSAGE FROM THE WHOLE-TIME DIRECTOR Dear Shareholders, It gives me great pleasure to welcome you to the 42nd Annual Report of Silver Oak (India) Limited for the financial year ended 31st March, 2026. On behalf of the Board of Directors, I would like to express my sincere gratitude to all our shareholders for their continued trust, confidence and support. The financial year under review was characterized by an evolving economic and business environment. The Indian economy continued to demonstrate resilience amid global uncertainties, while businesses across sectors continued to adapt to changing market conditions, regulatory developments and cost pressures. For companies operating in the distillery and alcohol manufacturing sector, the business environment continues to be influenced by a combination of market demand, raw material availability, input costs, Government policies, environmental requirements and State-specific regulatory frameworks. Looking at the Year Gone By During the financial year 2025-26, the operational activity of the Company remained limited and the Company did not record revenue from operations. While the year did not witness significant operational developments, the Company continued to remain attentive to its statutory, regulatory, corporate and administrative responsibilities. In a business environment where regulatory compliance and responsible corporate conduct are increasingly important, the Company continued to focus on fulfilling its applicable obligations and maintaining appropriate standards of corporate governance. The management remains conscious that sustainable progress is not measured only through financial performance but also through responsible governance, transparency and adherence to applicable laws and regulations. The year also provided an opportunity for the Company to review the business environment and developments within the distillery sector and to assess the factors that may influence the Company's operations and prospects going forward. Industry Perspective The Indian distillery industry continues to play an important role in the country's industrial and agricultural ecosystem. The sector caters to diverse requirements including industrial alcohol, ethanol and alcoholic beverages and is closely connected with the agricultural and energy sectors. One of the important developments influencing the industry has been the increasing focus on ethanol blending as part of India's broader energy and fuel strategy. The continued development of ethanol blending has the potential to create opportunities for the distillery sector and support demand for ethanol over the longer term. At the same time, the industry remains subject to several challenges. Availability and prices of raw materials such as molasses and grains may fluctuate depending upon agricultural production, seasonal conditions and market dynamics. Energy and other input costs can also influence the economics of distillery operations. Further, the industry operates within a comprehensive regulatory framework. Excise regulations, environmental requirements, pollution control norms, licensing requirements and other applicable statutory provisions have an important bearing on the operations of distillery companies. The regulatory framework may also vary across States, making compliance an important and continuing responsibility for businesses operating in this sector. Our Approach Going Forward The management remains mindful of the opportunities as well as challenges associated with the Company's business and the broader distillery industry. Going forward, the Company will continue to monitor developments in the industry, Government policies, regulatory requirements and prevailing market conditions. The Company will evaluate suitable opportunities for its business based on their commercial viability and the resources available to the Company. The management intends to follow a measured and prudent approach, with appropriate consideration being given to regulatory requirements, financial discipline and long-term sustainability. While the immediate operating environment may continue to present challenges, we believe that the Indian market and the broader distillery sector continue to offer opportunities over the longer term. The Company will continue to assess these opportunities carefully and take appropriate steps in the best interests of the Company and its stakeholders. Governance and Stakeholder Commitment As a listed entity, the Company recognizes its responsibility towards its shareholders and other stakeholders. We remain committed to maintaining transparency, accountability and appropriate standards of corporate governance. The Board and management continue to place due importance on compliance with applicable statutory and regulatory requirements. We also recognize that maintaining the confidence of shareholders requires consistent attention to responsible management, timely compliance and transparent communication. Our stakeholders remain central to the Company's journey. We value the confidence placed in us by our shareholders and appreciate the cooperation extended by our employees, professional advisors, auditors, regulatory authorities, business associates and other stakeholders. Looking Ahead The coming year will remain focused on closely monitoring the business environment and evaluating appropriate opportunities for the Company. The management will continue to take decisions keeping in view the Company's present position, industry developments, regulatory environment and long-term interests. We recognize that the Company's journey ahead may require patience, prudent decision-making and continued focus. Our objective will be to ensure that the Company remains well positioned to respond appropriately to opportunities as and when they arise, while continuing to discharge its statutory and corporate responsibilities. We remain optimistic about the long-term potential of the Indian economy and the opportunities that may emerge within the distillery sector. At the same time, we remain realistic about the challenges associated with the industry and will continue to approach them with due care and responsibility. A Note of Thanks On behalf of the Board, I would like to sincerely thank all our shareholders for their continued faith and support. Your confidence is an important source of encouragement for the Company and its management I also take this opportunity to express my appreciation to our employees, professional advisors, auditors, consultants, regulatory authorities, business associates and all other stakeholders for their cooperation and support during the year. We look forward to your continued s [Showing first 8,000 characters — download PDF for full document]