Updates

Ref.: ML/Compliance/2026-27/26 June 29, 2026 BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 506261 Symbol: MODISONLTD Dear Sir/Madam, Subject : Annual Report for FY 2025-26 Reference: Regulations 30 and 34(1), 36(1)(b) of the SEBI (Listing Regulations and Disclosure Requirements) Regulations, 2015. We are pleased to inform you that the 43rd Annual General Meeting ("AGM") of the Members of Modison Limited is scheduled to be held on Tuesday, July 21, 2026, at 5:30 P.M. (IST) through Video Conferencing ("VC") / Other Audio-Visual Means ("OAVM"). Please find enclosed the Annual Report for the Financial Year 2025-26, together with the Notice convening the 43rd AGM. In accordance with the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Notice of the AGM and the Annual Report have been sent electronically to those Members whose email addresses are registered with Depository Participant(s), or the Registrar and Share Transfer Agent ("RTA"). Further, pursuant to Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company is also dispatching a communication by post to those Members whose email addresses are not registered, informing them of the web link from which the Annual Report, including the Notice of the AGM, can be accessed on the Company's website. Members who have not yet registered their email addresses are requested to register or update the same with their Depository Participant, the Company, or the Registrar and Share Transfer Agent, as applicable, to ensure timely receipt of all shareholder communications in electronic mode. The Notice of the 43rd AGM and the Annual Report for the Financial Year 2025-26 are also available on the Company's website at www.modisonltd.com/investors/modison- annual-report. This is for your information & record. Thanking you. Yours faithfully, For Modison Limited Pooja Birendra Sinha Company Secretary & Compliance Officer Encl: Annual Report for the Financial Year 2025-26, together with the Notice convening the 43rd AGM. CONTENTS Corporate Information 1 Financial Highlights with Performance Table 2 Notice of Annual General Meeting 3 Annexures to the Notice 8 Directors Report and Annexures 36 Management Discussion and Analysis Report 69 Report on Corporate Governance with Annexures 82 Independent Auditors Report with Standalone Financial Statements 117 Independent Auditors Report with Consolidated Financial Statements 187 CORPORATE INFORMATION CIN BSE Scrip Code NSE SYMBOL ISIN L51900MH1983PLC029783 506261 MODISONLTD INE737D01021 Board of Directors Mr. Girdhari Lal Modi Managing Director Mr. Rajkumar Mohanlal Modi Jt. Managing Director Mr. Kumar Jay Modi Jt. Managing Director Mr. Ashok Shantilal Jatia Non-Executive Independent Director (upto November 01, 2025) Mr. Jayant Govindrao Kulkarni Non-Executive Independent Director Ms. Preeti Arvind Shah Non-Executive Independent Director Mr. Nandkishore Bafna Non-Executive Independent Director (w.e.f. November 01, 2025) Key Managerial Personnel’s Mr. Murlidhar Narayan Nikam Chief Executive Officer Mr. Ramesh Mangilal Kothari Chief Financial Officer Ms. Pooja Birendra Sinha Company Secretary & Compliance Officer Registered Office Address Factory Address 33 Nariman Bhavan, Plot No. 85A,B,D,E & 2923, 2924 A&B, 227,Nariman Point, E-Road, Phase-I, GIDC, Mumbai, 400021 Vapi-396 195, Dist. Valsad, Maharashtra, India Gujarat, India Statutory Auditors Internal Auditors Secretarial Auditors M L BHUWANIA AND CO LLP V. Singhi & Associates Ragini Chokshi & Co. Chartered Accountants Chartered Accountants Company Secretaries F-11, 3rd Floor, 90, Manek 61, 6th Floor, Sakhar Bhavan, 34, Kamar Building, 5th floor, Mahal Veer Nariman Road 230, Nariman Point, 38 Cawasji Patel Street, Fort, Marine Lines, Mumbai- 400020, Mumbai 400021, Mumbai 400001, Maharashtra, India Maharashtra, India. Maharashtra, India Email: info@mlbca.in Email:mumbai@vsinghi.com Email:mail@csraginichokshi.com Phone: +91 22 35074949 Phone: +91 22 62501800 Phone: +91 22 22831120/34 Registrar & Transfer Agent Banker Purva Sharegistry (India) Pvt. Ltd. HDFC Bank Limited Unit no. 9, Shiv Shakti Industrial Estate Citi Bank NA J .R. Boricha Marg, Lower Parel (E) Sber Bank Mumbai 400011 Maharashtra, India Email :support@purvashare.com Phone: +91 22 41343255/56 FINANCIAL HIGHLIGHTS (STANDLONE) ( ₹ in Lakhs) 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Total Revenue (Net of Excise Duty/GST) 1 9,131.85 2 0,267.38 2 2,098.81 2 2,217.38 2 9,363.76 34,118.85 3 3,620.77 4 0,523.00 4 9,349.54 7 1,600.15 EBITDA 3 ,117.08 3 ,164.28 3 ,302.25 2 ,701.90 3 ,792.93 2 ,843.79 2 ,337.14 3 ,822.49 4 ,738.35 1 1,529.47 Depreciation & Amortisation 6 39.76 6 28.16 6 36.47 6 17.94 6 07.84 660.85 6 32.53 6 27.90 8 01.45 9 65.02 EBIT 2 ,477.32 2 ,536.12 2 ,665.78 2 ,083.96 3 ,185.09 2 ,182.94 1 ,704.61 3 ,194.59 3 ,936.90 1 0,564.44 Taxation 7 81.98 7 10.34 7 77.26 3 74.21 7 37.10 516.27 4 16.05 7 77.49 8 86.08 2 ,438.36 PAT (Profit After Tax) 1 ,425.95 1 ,640.32 1 ,668.13 1 ,511.28 2 ,243.12 1 ,461.88 1 ,117.28 2 ,134.33 2 ,468.02 7 ,255.32 EBITDA To Total Revenue (%) 1 6.29 1 5.61 1 4.94 1 2.16 1 2.92 8.33 6 .95 9 .43 9 .60 1 6.10 EBIT To Total Revenue (%) 1 2.95 1 2.51 1 2.06 9 .38 1 0.85 6.40 5 .07 7 .88 7 .98 1 4.75 PAT To Total Revenue (%) 7 .45 8 .09 7 .55 6 .80 7 .64 4.28 3 .32 5 .27 5 .00 1 0.13 Net Block ( + CWIP ) 5 ,875.91 5 ,838.51 5 ,715.02 5 ,876.01 6 ,354.63 6 ,960.26 7 ,579.13 8 ,603.81 9 ,282.56 9 ,526.98 Paid Up Capital 3 24.50 3 24.50 3 24.50 3 24.50 3 24.50 324.50 3 24.50 3 24.50 3 24.50 3 24.50 Reserves And Surplus 1 1,122.18 1 2,368.76 1 3,437.30 1 4,359.42 1 6,131.77 17,252.05 1 8,382.15 2 0,010.77 2 1,331.01 2 7,137.96 Net Worth 1 1,410.44 1 2,657.26 1 3,725.93 1 4,649.67 1 6,422.02 17,542.30 1 8,672.40 2 0,301.00 2 1,683.88 2 7,478.95 Few Key Ratios Earnings Per Share (Rs.) 4 .39 5 .05 5 .14 4 .66 6 .91 4.51 3 .44 6 .58 7 .61 2 2.36 Book Value (Rs.) 3 5.17 3 9.01 4 2.30 4 5.15 5 0.61 54.06 5 7.54 6 2.56 6 6.82 8 4.68 Dividend (%) 1 00.00 1 50.00 1 50.00 1 00.00 1 50.00 100.00 1 00.00 2 50.00 3 50.00 5 50.00 58.13191 83.76202 18.89022 83.71222 67.36392 58.81143 77.02633 00.32504 45.94394 51.00617 Total Revenue 80000.00 70000.00 60000.00 50000.00 40000.00 30000.00 20000.00 10000.00 0.00 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 YEAR 59.5241 23.0461 31.8661 82.1151 21.3422 88.1641 82.7111 33.4312 20.8642 23.5527 Profit After Tax 8000.00 7000.00 6000.00 5000.00 4000.00 3000.00 2000.00 1000.00 0.00 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 YEAR NOTICE OF ANNUAL GENERAL MEETING NOTICE is hereby given that the 43rd Annual General Meeting (AGM) of the Members of Modison Limited will be held on Tuesday, July 21, 2026 at 5:30 P.M. [IST] through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”) to transact the following businesses. ORDINARY BUSINESS: 1. ADOPTION OF AUDITED FINANCIAL STATEMENTS (STANDALONE AND CONSOLIDATED) ALONG WITH DIRECTORS’ REPORT AND AUDITORS’ REPORT THEREON To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended March 31, 2026, together with the reports of the Board of Directors’ and Auditors’ thereon in this regard if thought fit, to pass, with or without modification(s), the following resolutions as Ordinary Resolution: “RESOLVED THAT the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026, and the Reports of the Board of Directors and Auditors thereon, be and are hereby received, considered, and adopted. “RESOLVED THAT the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with the Auditors’ Report thereon, be and [Showing first 8,000 characters — download PDF for full document]