Please refer our earlier communication dated 26.08.2026 and 07.09.2026 wherein we had given Annual Report for financial year 2025-26 and Addendum to 52nd Annual Report - Comments of Comptroller & Auditor General of India (C&AG) respectively. In this regard, please find enclosed the revised Annual Report for the financial year 2025-26 incorporating Addendum to Annual Report, in terms of Regulation 34(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

<9EY' 'IW-~CIIlft es ~ ~TGf"(Yf Lbrlcll $61 "lf Rvt fJ1 NATIONAL FERTILIZERS LIMITED (A Govt. Of India Undertaking) (3l'RFI :mcJjR C5T Jt!Siiill') ctJWt1~e ~: 1:!'-11, ~-24, ~ - 201301 Corportate Office : A-11, Sector-24, Noida-201301, ~ ~ ~ ~ (\3".~.). Distt. Gautam Budh Nagar ( U.P.) ~ : 0120 2012294, 2412445, ~ : 0120-2412397 Ph.: 0120-2412294, 2412445, Fax : 0120-2412397 Ref No NFL/SEC/SE/2346 Dated· 22 09 2026 National Stock Exchange of India Ltd.'-VBSE Limited Exchange Plaza, Corporate Relationship Department, C-1, Bloc k-G, Sandra Kurla 1st Floor, New Trading Wing, Rotunda Complex, Sandra (E), Building, Phiroze Jeejeebhoy Towers, Mumbai-400051 Dalal Street, Mumbai- 400 001 NSE Symbol- NFL BSE Scrip Code -523630 it~~~~ ~v ~em -a· \i1 3f"v 1 1J) ~~til Gtt.~.f. Rlflles Rlflles Cf) 1 >t 41~ e ~ fchwr, ~em =a·ut ~ nrtcr8, ;q~fctrr. ~ !lR841 ~ -1 , ~-uft, (ifR(T wffi Cf) Al ~em fih ~,\it uftuft'lflf ~' ~(f), ~-400051 ~ ~-400001 Sub: Revised Annual Report for the Financial Year 2025-26 as adopted by the members in their 52"d Annual General Meeting of the Company. Dear Sir, Please refer our earlier communication dated 26.08.2026 and 07.09.2026 wherein we had given Annual Report for financial year 2025-26 and Addendum to 52"d Annual Report- Comments of Comptroller & Auditor General of India (C&AG) respectively. In this regard, please find enclosed the revised Annual Report for the finan-cial year 2025-26 incorporating Addendum to Annual Report, in terms of Regulation 34(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This is for your intimation and records. Thanking you I CCJo:<:4~1Q Yours faithfully I~ For National Fertilizers Limited/ cp-a Rlflles (Ashok Jha)/ (~ Wf) Company Secretary & Compliance Officer/ "$"q;ft "ftftrq ~ 31 jQ I~~ ~ Encl: As Above ~ •w1f~4: ffi"q q;'f~<RJ. <PR-1n, 1. ~~~ ~ m~ xts. ~ ~- 11ooo3. ~ = 011-24361252. ~<Rl = 011-24361553 Regd. Office: Scope Complex, Core-Ill, 7, Institutional Area, Lodhi Road, New Delhi-110003, Tel.: 011-24361252, Fax: 011-24361553 CIN: L74899DLI974GOI007417 Website: http://www.nationalfertilizers.com ll @nationalfertilizers ANNUAL 2025-2026 PHOSPHORUS NITROGEN POTASSIUM SULFUR National Fertilizers Limited VVVIIISSSIIIOOONNN To be a leading Indian company in fertilizers and beyond, with commitment to all stakeholders MMMIIISSSSSSIIIOOONNN A dynamic organization committed to serve the farming community and other customers to their satisfaction through timely supply of fertilizers and other products & services; continually striving to achieve the highest standards in quality, safety, ethics, professionalism, energy conservation with a concern for ecology and maximizing returns to stakeholders PAGE Management Team 2 Board of Directors 3 Chairman's Message 4 Performance at a Glance 8 Board's Report 10 Management Discussion and Analysis 34 Business Responsibility & Sustainability Report 51 Corporate Governance Report 98 Certificate on Compliance of Condition of Corporate Governance & Management's 136 Explanation to Secretarial Auditor's Observations Annual Report on Corporate Social Responsibility Activities 140 Particulars with respect to Conservation of Energy (Form A) 144 Particulars with Respect to Conservation of Energy, Technology Absorption and Foreign 145 Exchange Earning & Outgo (Form B) Report on Safety, Environment and Sustainable Development 147 Particulars of Loans, Guarantee, Security and Acquisition under Section 186 of the 149 Companies Act, 2013 (Form MBP-2) Joint Venture/ Associate Companies (Form AOC-1) 150 Related Party Disclosures (Form AOC-2) 152 Report on Procurement from Micro and Small Enterprises (MSES) 153 Initiatives taken for development of employees belonging to Scheduled Caste/Scheduled 155 Tribes/Other Backward Classes (SC/ST/OBC categories) Secretarial Audit Report & Management's Explanation to Secretarial Auditor's observations 157 Secretarial Compliance Report 164 Certificate of Non-Disqualification of Director 179 Director's Profile 181 Independent Auditors Report (Standalone) 186 Balance Sheet (Standalone) 209 Statement of Profit & Loss (Standalone) 210 Cash Flow Statement (Standalone) 211 Statement of Changes in Equity (Standalone) 212 Company Overview and Material Accounting Policies (Standalone) 213 Notes to Financial Statements (Standalone) 222 Independent Auditors Report (Consolidated) 271 Balance Sheet (Consolidated) 289 Statement of Profit & Loss (Consolidated) 290 Cash Flow Statement (Consolidated) 291 Statement of Changes in Equity (Consolidated) 292 Company Overview and Material Accounting Policies (Consolidated) 293 Notes to Financial Statements (Consolidated) 303 MANAGEMENT TEAM BOARD LEVEL Dr. U. Saravanan Chairman & Managing Director Shri Mahesh Chander Gupta Shri M. N. Goyal Shri Arvind Kumar Director (Marketing) Director (Technical) Director (Finance) CORPORATE OFFICE Vigilance Sh. Amit Kumar Sharma, IRS Chief Vigilance Officer Information Technology Sh. Anil Motsara Executive Director Human Resources Sh. B. V. Vittal Executive Director Finance & Accounts Sh. J. Ramesh Executive Director Human Resources Sh. Sanjeev Randeva Chief General Manager (I/c) Finance & Accounts Sh. S.K. Prajapati General Manager Marketing Sh. Rajeev Kumar Sharma General Manager Technical & Project Sh. Kuldip Singh General Manager (I/c) Human Resources Sh. Ashok Kumar Shrivastva General Manager Materials Sh. Sanjay Pandey General Manager (I/c) Marketing Sh. A.K. Ghosh General Manager UNIT HEADS Sh. B.B. Grover Sh. V. K. Gupta Sh. T. K. Batra Sh. Inderpreet Singh Executive Director Executive Director Chief General Manager Chief General Manager Nangal Unit Vijaipur Unit Bathinda Unit Panipat Unit Registrar & Transfer Agents Ashok Jha Secretarial Auditor Auditors Auditors MAS Services Limited Company Secretary A Cga or mw pa al nS y. & S eA cs rs eo tac ri ia et se ,s. ChR aS rtP eH re & d AA cs cs oo uci na tt ae ns t s, D Cas hs aa rtn ei r & ed A As cs co oc uia nt te as n L tsL ,P T-34, II Floor, A-14100 New Delhi New Delhi Madhya Pradesh Okhla Industrial Area-II New Delhi-110020 BOARD OF DIRECTORS Dr. U. Saravanan Chairman & Managing Director Shri Mahesh Chander Gupta Shri M. N. Goyal Shri Arvind Kumar Director (Marketing) Director (Technical) Director (Finance) Shri Kuntal Sensarma Shri Anurag Rohatgi Ms. Pinky Pradhan Shri Mahak Singh Government Nominee Government Nominee Non-Official Non-Official Director Director Independent Director Independent Director CHAIRMAN’S MESSAGE Dr. U. Saravanan Chairman & Managing Director Dear Shareholders, It gives me immense pleasure to share with you the reservoir levels and continued Government support overall performance of your company for the fiscal year through various agricultural schemes contributed to 2025-26 with an overview of the Indian and Global healthy agricultural activity and fertilizer consumption fertilizer industry. during the year. The Indian economy continued to demonstrate resilience The sector was specially characterized by evolving during FY 2025-26 amidst evolving global economic nutrient consumption patterns, government emphasis on conditions, geopolitical uncertainties and commodities balanced fertilization, and continued policy support price volatility. under nutrient subsidy mechanisms. Demand for complex fertilizers, micronutrients, bio-fertilizers and During FY 2025-26, geopolitical tensions in the Middle specialty fertilizers also continued to increase as farmers East created significant uncertainty in global fertilizer and adopted balanced nutrient management practices amid energy markets. The disruption affected international paucity of chemical fertilizers. prices of natural gas, ammonia, urea and phosphatic fertilizers, while also increasing freight and logistics Overall fertilizer sales grew significantly across the costs. However, proactive measures by the Government industry in FY 2025–26, fueled by rising consumption of India, including strategic inventory bui [Showing first 8,000 characters — download PDF for full document]