Attached the Annual Report of the Company for the Financial Year 2025-26.

September 08, 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001. Scrip Code: 513307 Sub.: Notice of the 41st Annual General Meeting (AGM) and Annual Report for the Financial Year 2025-26. Dear Sir/Ma’am, In compliance with the Regulation 30 and 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (“Listing Regulations”) please find enclosed herewith the Annual Report of the Company for the Financial year 2025-26 along with the Notice of the 41st Annual General Meeting of the Company scheduled to be held on Wednesday, September 30, 2026 at 10:00 A.M. (IST) through Video Conferencing/Other Audio Visual Means (OAVM) pursuant to relevant circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India ("SEBI"). The aforesaid Notice of AGM and Annual Report is being sent electronically (through e-mail) to all the Members whose email addresses are registered with the Company/ Registrar & Share Transfer Agent/ Depository Participant(s). Further, pursuant to the Regulation 36(1)(b) of the Listing Regulations, a letter will be sent to the members whose e-mail addresses are not registered with the Company/RTA/DPs, providing a web-link from where the Notice of the AGM and Annual Report can be accessed on the website of the Company. The Annual Report along with the Notice of the Annual General Meeting for the Financial Year 2025-26 is also available on the website of the Company i.e., www.belding.ltd Kindly take the same on records. Yours Faithfully, For Belding India Limited Abhishek Narbaria Managing Director DIN:01873087 Encl.: As above (Formerly known as Synthiko Foils Limited) Regd. Off.: 9th Floor, VB Capitol Building, Range Hill Road, Opp. Hotel Symphony, Bhoslenagar, Shivajinagar, Pune-411007, Maharashtra, India I CIN: L63119PN1984PLC248366 Contact No.: +91 9156426003 I Email Id: compliance@belding.in I Website: www.belding.ltd ENERGY. DATA. TRANSFORMATION. Annual Report 2025-26 Contents Corporate Overview 01 Theme Introduction 02 Who We Are 06 Investment Case 08 From the Desk of Managing Director 10 Business Verticals 12 Environment, Social & Governance 14 Board of Directors 16 Awards & Recognition 17 Corporate Information Statutory Reports 18 Management Discussion and Analysis 27 Board’s Report 45 Corporate Governance Report 66 Business Responsibility and Sustainability Report Financial Statements 110 Standalone Financial Statements 168 Consolidated Financial Statements 234 Notice of AGM To view this report online, and to know more about us, please visit: https://www.belding.ltd/ Belding India is evolving as a diversified engineering-led enterprise across infrastructure, manufacturing, energy and defense-focused industries, with its diverse business verticals forming the core strength of its platform and supporting the evolving demands of India’s digital and industrial economy. ‘Energy’ and ‘Data’ represent two key growth engines for Belding India. Its capabilities in Battery Energy Storage Systems (BESS) and renewable energy integration support India’s clean energy transition, while its data center infrastructure capabilities address the rapidly expanding requirements of India’s digital economy through modular, scalable and mission-critical solutions. ‘Transformation’ brings these capabilities together, positioning Belding India at the intersection of India’s digitalization, energy transition and infrastructure growth. Together, these capabilities and their transformative impact reflect not only what Belding India delivers today, but also its ambition to continuously build capabilities that enable the infrastructure needs of tomorrow. ENERGY. DATA. TRANSFORMATION. Annual Report 2025-26 Who We Are Belding India Limited (Formerly known as Synthiko Foils Limited) is an integrated EPC and systems integration company delivering mission-critical infrastructure solutions across the data centers, renewable energy, energy storage, defense, and industrial sectors. Through its diversified business platforms, the Company offers end-to-end capabilities spanning turnkey project execution, system integration, precision manufacturing and lifecycle support. With its foundation rooted in the ‘Make in India’ initiative, Belding India combines indigenous manufacturing capabilities with execution excellence and technology- driven solutions to deliver reliable, scalable and future-ready infrastructure that supports India’s next phase of growth. MISSION VISION “To build globally competitive “To become a trusted Indian enterprise engineering, manufacturing and recognized for shaping future-ready infrastructure capabilities that infrastructure and industrial ecosystems deliver long-term value, operational through innovation, precision, execution excellence and sustainable growth excellence and globally benchmarked across critical industries”. capabilities”. Corporate Overview Statutory Reports Financial Statements STRATEGIC EVOLUTION TIMELINE 2024 2025 2026 Building the Expanding Globalization & Foundation Capabilities Institutional Maturity Established an integrated business Expansion of Battery Energy Strengthened business capabilities platform with a strategic focus on Storage System (BESS) offerings through strategic partnerships, digital infrastructure, clean energy and execution of projects across the integration of Metafin & Evolve. Grown into a global infrastructure and mission-critical infrastructure India. enterprise, built on institutional solutions. maturity and a strong culture of regulatory compliance. CORE VALUES Engineering Execution Integrity Excellence Discipline & Trust We uphold the highest From manufacturing We build long-term standards of technical floors to large-scale relationships through precision, quality and infrastructure sites, we transparency, responsible performance across every operate with accountability, business practices and product, system and efficiency and commitment unwavering professional project we deliver. to delivery. ethics. Innovation Safety & Make in India with Purpose Sustainability Commitment We continuously evolve our We integrate safety, We are dedicated to capabilities, technologies environmental strengthening India’s and processes to create responsibility and engineering and future-ready industrial and sustainable thinking into manufacturing ecosystem infrastructure solutions. every stage of operations through globally and project execution. competitive & indigenous capabilities. Annual Report 2025-26 BUSINESS VERTICALS DC&T Global DC&T Defence Engineering Mission-Critical Strategic Engineering for National Infrastructure Infrastructure BESS IT'S ALL ABOUT ENERGY STORAGE BESS Metafin Technology Evolve IT Solutions Building India’s next-generation Precision Engineering & Advanced X-ray inspection and industrial energy resilience Systems Integration security screening technologies platform Corporate Overview Statutory Reports Financial Statements COMPETITIVE EDGE End-to-End Integrated in-house manufacturing capabilities provide greater execution Manufacturing control, improve quality assurance, Strength reduce supply chain dependence and enable timely project delivery. Shared Creates operating leverage by enabling asset utilization, engineering Engineering standardization and scalable execution across multiple business verticals. Standards Products and systems are designed and validated in accordance with IS Compliance and IEC standards, ensuring reliability, safety, regulatory compliance and qualification for institutional projects. Government Strong alignment with government procurements and indigenization Linkages initiatives enhances institutional credibility and expands access to strategic infrastructure opportunities. Financial A debt-free balance sheet and disciplined capital allocation provide Resilience financial flexibility to fund growth while maintaining a prudent risk profile. Institutional Strengthens competitive diffe [Showing first 8,000 characters — download PDF for full document]