Updates

Date: September 07, 2026 The Listing Department National Stock Exchange of lndia Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai - 400051, Maharashtra. SYMBOL: QMSMEDI Sub: Integrated Annual Report under Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) The 9th Annual General Meeting of the Company is scheduled to be held on Wednesday, September 30, 2026 at 2.30 p.m. (IST) through Video Conferencing facility / Other Audio Visual Means. Pursuant to Regulation 34(1) of the SEBI Listing Regulations, please find enclosed the Annual Report of the Company. The Annual Report 2025-26 will be available on the website of the Company at https://qmsmas.com/download/annual-report-for-fy-2025-26/. This is for your information and records. Thanking you, Yours sincerely, For QMS MEDICAL ALLIED SERVICES LIMITED Toral Jailesh Bhadra (Membership Number: A56927) (Company Secretary and Compliance Officer) Place: Mumbai Encl: As above CIN: L33309MH2017PLC299748; Email ID: mm@qmsmas.com QMS MEDICAL ALLIED SERVICES LIMITED 9th Annual Report FY 2025-26 CIN: L33309MH2017PLC299748; Email ID: mm@qmsmas.com CONTENTS Particulars Page No. Corporate Information 1 Notice of 9th Annual General Meeting 3 Explanatory Statement (Section 102) 14 Board's Report 24 Annexure A - Form AOC-1 (Subsidiary) 40 Annexure B - Annual Report on CSR Activities 41 Annexure C - Particulars of Employees / Remuneration (Rule 5) 46 Annexure D - Secretarial Audit Report (Form MR-3) 47 Annexure E - Management Discussion and Analysis 51 Corporate Governance Report 55 Annexure F - CEO/CFO Certification 77 Annexure G - Certificate of Non-Disqualification of Directors 78 Annexure H - Auditors' Certificate on Corporate Governance 79 Independent Auditors' Reports and Financial Statements (Standalone) 81 Independent Auditors' Reports and Financial Statements (Consolidated) 113 CORPORATE INFORMATION CIN L33309MH2017PLC299748 ISIN INE0FMW01018 Email contact@qmsmas.com Website https://qmsmas.com/ 1A-1B / 2A-2B, Navkala Bharati Building, Plot No. 16, Prabhat Colony, Road Registered Office No. 3, Santacruz (East), Mumbai - 400 055, Maharashtra Board of Directors Name DIN Designation Chairman & Managing Director 1 Mr. Mahesh Pahalraj Makhija 02700606 (Promoter) Non-Executive Independent Woman 2 Mrs. Sarita Vijay Mahajan 10841279 Director 3 Mr. Prajwal Jayasheela Poojari 07480513 Non-Executive Independent Director 4 Mr. Niken Ravin Shah 07604022 Non-Executive Independent Director 5 Mr. Deena Nath Pathak 02104727 Non-Executive Director Additional Non-Executive Independent 6 *Mr. Pranav Manhar Badheka 06460764 Director *Mr. Pranav Manhar Badheka is appointed as an Additional Non-Executive Independent Director w.e.f September 03, 2026 Key Managerial Personnel Name Designation Mrs. Toral Jailesh Bhadra (Membership No. A56927) Company Secretary & Compliance Officer Mrs. Sejal Vivek Mhatre Chief Financial Officer Statutory Auditor M/s. H.H. Dedhia & Associates, Chartered Accountants (ICAI FRN: 148213W), Unit 803, Sunshine Tower, Senapati Bapat Marg, Prabhadevi, Mumbai - 400013. Secretarial Auditor M/s. Maharshi Ganatra & Associates, Company Secretaries (Membership No. F11332), 219/220, 2nd Floor, Goldcrest Business Park, Next to Kailash Esplanade, L.B.S. Marg, Opp. Shreyas Cinemas, Ghatkopar West, Mumbai - 400086. Registrar and Share Transfer Agent Bigshare Services Private Limited, Office No. S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai. Bankers Citi Bank Committees of the Board Committee Chairman Members Audit Committee Mr. Prajwal J. Poojari Mr. Niken R. Shah, Mr. Deena Nath Pathak Nomination & Remuneration Mr. Niken R. Shah Mr. Prajwal J. Poojari, Mr. Deena Nath Pathak Committee Stakeholders' Relationship Mr. Prajwal J. Poojari Mr. Deena Nath Pathak, Mr. Niken R. Shah Committee Corporate Social Mr. Niken R. Shah Mr. Mahesh P. Makhija, Mr. Prajwal J. Poojari Responsibility Committee Listing Equity shares were listed on the NSE Emerge (SME) platform on 11th October, 2022. With effect from 18th June, 2026, the Company's 1,93,37,443 equity shares migrated to the Mainboard of the National Stock Exchange of India Limited (NSE) under symbol QMSMEDI, pursuant to NSE's approval dated 16-Jun-2026. NOTICE OF 9TH ANNUAL GENERAL MEETING Notice is hereby given that the Ninth Annual General Meeting of the Members of QMS MEDICAL ALLIED SERVICES LIMITED will be held on Wednesday, September 30, 2026 at 02:30 P.M. through Video Conferencing or Other Audio Visual means, to transact the following business. The venue of the meeting shall be deemed to be the Registered Office of the Company at A1 A2/B1 B2, Navkala Bharti Bldg Plot No 16 Prabhat Colony Opp Near Santacruz Bus Depot Santacruz East, Mumbai 400055, Maharashtra, India to transact the following business: Ordinary Business 1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon. 2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with the Report of the Auditors thereon. 3. To appoint a Director in place of Mr. Mahesh Pahalraj Makhija (DIN: 02700606) who retires by rotation and, being eligible, offers himself for re-appointment as Director of the Company. Accordingly, to consider and it thought fit, pass the following resolution as ordinary resolution: “RESOLVED THAT pursuant to the provisions of Section 152 and other applicable provisions of the Companies Act, 2013, the approval of the member of the company be, and is hereby accorded for re-appointment of Mr. Mahesh Pahalraj Makhija (DIN: 02700606), Managing Director, to extent that he is required to retire by rotation.” 4. To declare a final dividend of Re. 0.50 (i.e. 5%) per equity share of face value Rs. 10/- each for the financial year ended March 31, 2026. Special Business 5. Regularisation of Additional Director. Mr. Pranav Manhar Badheka (DIN: 06460764) by appointing him as Independent Director of the Company: To consider and if thought fit, to pass with or without modification(s), the following resolution as a Special Resolution: RESOLVED THAT Mr. Pranav Manhar Badheka (DIN: 06460764) who was appointed by the Board of Directors as an Additional Director (Independent, Non-Executive) of the Company with effect from September 03, 2026 and who holds office up to the date of this Annual General Meeting of the Company in terms of Section 161(1) of the Companies Act, 2013 (“Act”) and Articles of Association of the Company but who is eligible for appointment, in respect of whom the Company has received a notice in writing from a member under Section 160(1) of the Act proposing his candidature for the office of Director of the Company, be and is hereby appointed as Director (Independent, Non-Executive) of the Company. RESOLVED FURTHER THAT pursuant to the provisions of Sections 149, 152 and other applicable provisions, if any, of the Act, the Companies (Appointment and Qualifications of Directors) Rules, 2014, read with Schedule IV to the Act and Regulation 17 and other applicable regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), as amended from time to time, the appointment of Mr. Pranav Manhar Badheka who meets the criteria for independence as provided in Section 149(6) of the Act along with the rules framed thereunder and Regulation 16(1)(b) of SEBI Listing Regulations and who has submitted a declaration to that effect, and who is eligible for appointment as an Independent Director of the Company, be and is hereby appointed as an Independent Director of the Company, not liable to retire by rotation, for a term of five ye [Showing first 8,000 characters — download PDF for full document]