Pursuant to Regulations 34(1)(a) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit integrated annual report of ....

July 22, 2026 BSE Listing portal Manager BSE Ltd Listing department Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001 Scrip ID – AMAL, Scrip code – 506597 Dear Sir: Annual report for the financial year ended on March 31, 2026 Pursuant to Regulations 34(1)(a) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit integrated annual report of financial year 2025-26 including notice of the 52nd Annual General Meeting of the Company for the record of the stock exchange. The annual report is also available on the website of the Company at: Integrated Annual Report 2025-26 Kindly acknowledge the receipt of the above. Thank you, Very truly yours, For Amal Ltd (Ankit Mankodi) Company Secretary The cover reflects the strategy of Amal for sustained growth, building on its core sulphur-based products business while progressing with its planned diversification into allied products. The bold yellow triangle symbolises sulphur – the foundation of our Company. The deep yellow at the base represents established expertise in sulphur and related products. The transition to lighter shades upwards signals expansion into new product areas, demonstrating growth through diversification without losing sight of its core strength. The upward slope conveys progress, illustrating the trajectory of our Company from a robust foundation towards new opportunities and enduring value creation. The deep blue background represents stability, trust and disciplined resilience – the bedrock of sustainable performance. Together, the blue and yellow express the integration of a proven foundation with forward momentum. Perseverance is not a long race; Contents it is many short races one after the other. - Walter Elliot 1-19 75-183 Corporate overview Governance overview Financial Statements 2 About Amal 17 Governance structure 75 Standalone Financial Statements 3 Performance at a glance 18 Board of Directors - Independent Auditor’s 4 Purpose 20-54 Report 5 Values Statutory Reports - Financial Statements 6 Materiality assessment 20 Directors’ Report 133 Consolidated Financial 7 Pillars of value creation 26 Annexure to the Directors’ Statements 8 Value creation model Report - Independent Auditor’s 10 Stakeholder engagement 37 Management Discussion Report and Analysis - Financial Statements Performance overview 38 Corporate Governance Report 13 Letter to the shareholders 14 Financial trend (consolidated financials) - 55 Notice short-term 16 Financial trend - 52nd Annual General Meeting long-term Friday, August 14, 2026 10:30 am The meeting will be held through video conferencing. Corporate overview Performance overview Governance overview Statutory Reports Financial Statements We hope that the second edition of the Integrated Annual Report of our Company serves as a comprehensive reflection of its performance and future direction. It is our endeavour to enrich the report at every opportunity by including additional relevant information that helps shareholders gain deeper insights into our Company and make informed decisions. Basis of reporting This report is prepared in accordance with: • Companies Act, 2013 (and the Rules made thereunder) • Secretarial Standards in line with Companies Act • Indian Accounting Standards • Integrated Reporting <IR> framework (a benchmark for best practices in corporate reporting) • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Reporting scope This report outlines the sustainability and operational performance of our Company, which operates exclusively in the bulk chemicals segment. Our Company is guided by the Board of Directors and functions through a matrix organisational structure to achieve overall functional excellence. Reporting boundary The financial information presented in this report relates to the standalone and consolidated operations of our Company, as specified in the relevant sections. The non-financial information primarily focuses on consolidated operations, unless otherwise stated. Reporting period The reporting period for this report is from April 01, 2025 to March 31, 2026. Materiality determination This report presents balanced information on the matters that materially affect the ability of our Company to create value over time, both positively and negatively. We have adopted a holistic approach to materiality by engaging with stakeholders to identify and evaluate the matters and information that are most relevant to our Company and its stakeholders. Forward-looking statements In this report, we have shared information and made forward-looking statements to enable investors to know the product portfolio, business logic of our Company and thereby comprehend its prospects. These include all statements other than statements of historical facts, including those regarding the financial position, business strategy, management plans and objectives for future operations. Such statements that we make are based on our assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘intend’, ‘plan’, ‘project’ or words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realised although we believe we have been prudent in our assumptions. The actual results may be affected because of uncertainties, risks and even inaccurate assumptions. If uncertainties or known or unknown risks materialise or if underlying assumptions prove inaccurate, actual results may vary materially from those anticipated, believed, estimated, intended, planned or projected. We undertake no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise. Amal Ltd | Annual Report 2025-26 1 About Amal Our Company is engaged in the manufacturing and marketing of bulk chemicals, including Sulphuric acid and Oleum, and their downstream products, such as Sulphur dioxide and Sulphur trioxide. These products serve as key raw materials for a wide range of industrial applications across sectors. The manufacturing facility of our Company is located at Ankleshwar, Gujarat, India. Our Company was promoted by the Piramal Group in 1974–75. In 1985–86, the controlling interest in our Company was acquired by Atul Ltd. Over the years, our Company has focused on improving operational performance and strengthening its business fundamentals, while maintaining its commitment to responsible manufacturing practices and long-term stakeholder value creation. Our Company incorporated Amal Speciality Chemicals (ASC) as a wholly-owned subsidiary on October 12, 2020. In 2022–23, ASC commissioned a new manufacturing plant with an equivalent capacity of 300 TPD of sulphuric products, strengthening the presence of our Company in its existing product portfolio. bird’s eye view of Ankleshwar site Corporate overview Performance overview Governance overview Statutory Reports Financial Statements Performance at a glance Financial Standalone financials ` 8,491 lakh ` 878 lakh ` 633 lakh ` 3.67 ` 1.5 revenue EBITDA PBT earnings per share dividend per share Consolidated financials ` 23,964 lakh ` 3,791 lakh ` 2,795 lakh ` 683 lakh ` 18.11 revenue EBITDA PBT capital expenditure earning per share Non-financial* Environmental Social Governance 6,905 kL 3,049 100% fresh water reduced beneficiaries of CSR projects adherence to Code of Conduct 39,130 kL 3 no water recycled CSR projects implemented cases of corruption and anti-competitive practice 100% 1 no procurement sourced from India zero liquid discharge site instances of data breach *consolidated basis plant area, Ankleshwar site Amal Ltd | Annual Report 2025-26 3 Purpose We are committed to significantly enhancing value for our stakeholders by: fostering a spirit of continuous learning and innovation adopting developments in science and technology [Showing first 8,000 characters — download PDF for full document]