Acquisition

WCL/SEC/2026 24 July, 2026 BSE Ltd. National Stock Exchange of India Listing Department, Ltd. P. J. Towers, Dalal Street, Exchange Plaza, Mumbai – 400 001. Bandra-Kurla Complex, (Scrip Code: Equity - 532144), Bandra (E), Mumbai – 400 051. (NCD – 973309) (Symbol: WELCORP, Series EQ) Dear Sirs/ Madam, Subject – Outcome of the meeting of the Board of Directors Ref.: a. Regulations 30, 33, 52 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time. (“SEBI Listing Regulations”) b. SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD POD2/I/3762/2026 dated 30th January, 2026 (“SEBI Master Circular”) b. ISIN: INE191B01025 We refer to our letter dated 16 July, 2026 intimating the meeting of the Board of Directors (“Board”) of Welspun Corp Limited (“the Company”) scheduled to be held on Friday, 24th July, 2026. We hereby inform you that the Board at its meeting held today, inter-alia, considered and approved the following: 1. The Unaudited Financial Results (Standalone and Consolidated) along with Limited Review Reports of the Company for the quarter ended 30th June, 2026, as reviewed by the Audit Committee. The aforesaid financial results and Limited Review Reports are enclosed herewith. 2. Investment of Rs.26,000/- (Rupees Twenty-Six Thousand) being 26% of the total paid-up equity share capital of the Company to be incorporated in India. The details as required under SEBI Listing Regulations read with SEBI Master Circular is enclosed as Annexure A. 3. The acquisition of additional 51% equity stake in Welspun Captive Power Generation Limited (WCPGL) from Welspun Living Limited (WLL), a promoter group Company, comprising of 1,50,64,213 (One Crore Fifty Lakh Sixty-Four Thousand Two Hundred and Thirteen) equity shares of face value Rs. 10/- (Rupees Ten only) each, at a consideration of Rs. 67.66 Crores, subject to the execution of transaction documents and such statutory, regulatory, and other approvals as may be applicable. Upon completion of the aforesaid acquisition, the aggregate equity shareholding of the Company, together with its subsidiaries, in WCPGL will increase from the existing 23% to 74%, consequent to which WCPGL will become a subsidiary of the Company. The details as required under SEBI Listing Regulations read with SEBI Master Circular is enclosed as Annexure B. The above matters have been approved by the Board of Directors of the Company at its meeting held on July 24, 2026 commenced at 11:30 a.m. and the above agendas were approved at 2.00 p.m. The same is for your information and record, please. Yours faithfully, For Welspun Corp Limited Kamal Rathi Company Secretary and Compliance Officer ACS-18182 14th Floor, Central B Wing and North C Wing BS R & Co. LLP Nesco IT Park 4, Nesco Center Western Express Highway Chartered Accountants Goregaon (East), Mumbai - 400 063, India Telephone: +91 (22) 6257 1000 Fax:+91 (22)62571010 Limited Review Report on unaudited consolidated financial results of Welspun Corp Limited for the quarter ended 30 June 2026 pursuant to Regulation 33 and Regulation 52(4) read with Regulation 63 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Welspun Corp Limited 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Welspun Corp Limited (hereinafter referred to as "the Parent"), and its subsidiaries {the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax and total comprehensive income of its associates and joint venture for the quarter ended 30 June 2026 ("the Statement") (in which are included interim financial information from Welspun Corp Employee Welfare Trust), being submitted by the Parent pursuant to the requirements of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). 2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities mentioned in Annexure I to the report. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The Statement also include the Group's share of net profit after tax (before consolidation adjustments) of Rs. 69.88 Crores and total comprehensive income (before consolidation adjustments) of Rs. 71.32 Crores, for the quarter ended 30 June 2026, as considered in the Statement, in respect of an associate, whose interim financial statements have not been reviewed by us. These interim financial statements have been reviewed by other auditor whose report has been furnished to us by the ~==aariagement and our conclusion on the Statement, in so far as it relates to the amounts and ali.is( res included in respect of this associate, is based solely on the report of the other auditor and th ~ dures performed by us as stated in paragraph 3 above. Central B I nd Nor1hC , Registered Office IT ~•. {.¥:I , pa n'K1 firm with Reg st.ration No BA61223} converted 1n10 BS R & Co LLP {8 1◄th FIOO• Central B Wing and North C Wing Nesco IT Part< 4. Nesco We P rt.ner p with LLP Reg1strauon No. AAB-8181) with effect from October 14, 2013 Center Western Ex.press H-ghway Goregaon \East). Mumbai• 400063 (}. Goregaon (EasQ, ./!} Page 1 of 4 -~ Mumbai· 400 063 red Accov- BS R & Co. LLP Limited Review Report (Continued) Welspun Corp Limited This associate is located outside India whose interim financial statements have been prepared in accordance with accounting principles generally accepted in its country and which has been reviewed by other auditor under generally ac [Showing first 8,000 characters — download PDF for full document]