The Board has considered and taken on record the un-Audited Standalone Financial Results for the quarter and half year ended as on 30.09.2026 duly reviewed by the Audit Committee.

SHAH ALLOYS LTD. Corp. Office: Shah Alloys Corporate House, Sola-Kalol Road, Santej, Ta. Kalol, Dist. Gandhinagar-382721 Reg. Office : 5/1, Shreeji House, 5th Floor, B/h. M. J. Library, Ashram Road, Ahmedaba d-380006, India Phone: 02764-352929, E-Mail: info@Shahalloys.com, Website: www.shahalloys.com DATE: 30.10.2026 Department of Corporate Service Manager BSE LIMITED Listing Department Phiroze Jeejeebhoy Tower, National Stock Exchange of India Ltd. Dalal Street, Exchange Plaza, Plot No C/1, G-Block, Mumbai - 400 001 Bandra – Kurla Complex, Bandra (E), Mumbai – 400051 BSE Scrip Code: 513436 NSE Symbol – SHAHALLOYS Dear Sir/Ma’am, Sub: Outcome of the Meeting of the Board of Directors held on 30th October 2026 and Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to the provisions of Regulation 30 & 33 of the SEBI (LODR) Regulations, 2015 and other applicable provisions, if any. Of the SEBI Listing Regulations, We are pleased to inform you that the Board of Director of the Company in its meeting held on today i.e. on Friday, October 30, 2026 has considered and taken on record the Un-Audited Standalone Financial Results for the quarter and half year ended as on 30.09.2026 duly reviewed by the Audit Committee. We enclose the same in the prescribed form duly signed along with the Limited Review Report. [The aforesaid Board Meeting Commenced at 15.00 (IST) hrs. and Concluded at 15.30 (IST) We Request you to take the above information on record. Thanking You, Yours faithfully, For & on behalf of Shah Alloys Limited Narayanlal F. Shah Company Secretary & Compliance Officer M. No. – A30225 Encl.: As mentioned above CIN: L27100GJ1990PLC014698 Factory: Block No.2221/2222, Shah Industrial Estate, Sola Kalol Road, Santej, Ta. Kalol, Dist. Gandhinagar-382721 CHARTEREDACCOUNTANTS CA(Dr). HITENPARIKH CASANJAYMAIMUDAR CASAT\Y/IKDURKAL CAKOMALMA]MUDAR M.Com.,LL.B.,FCA.,PH.D.,IP B.Com.,LL.B.,FCA B.Com.,FCA B.Com.,FCA,DISA,IFRS 303, "B" Wing, GCP Business Center, Opp Navrangpura Fire Station, Nr. Vijay Cross Roads, Navrangpura, Ahmedabad - 380 009. Phones :- +91 79 40092628, 26401703 Email : audit@srnajmudar.com Independent Auditors Review Report on the Quarterly and year to date Unaudited standalone Financial Results of the Company pursuant to the Regulation 33 of SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Reportto Board of Directors of SHAH ALLOYS LIMITED, Ahmedabad. We have reviewed the accompanying statement of unaudited standalone financial results of SHAH ALLOYS LIMITED (the "company") for the quarter ended September 30, 2026 and for the period from to date April 1 2026 to September 30, 2026 (the "statement") attached herewith, being submitted by the company pursuant to the requirements of Regulation 33 of the SEBI (Listing obligations & Disclosure Requirements) Regulation, 2015, as amended (the listing regulation) This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34, "interim Financial Reporting" ("lnd AS 34") prescribed under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulations 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. We conducted our review of the Statement in accordance with the Standard on Review E\ngagements (SRE) 2410 'Review of Interim Financial Information Performed byl Independent Auditor of the Entity' issued by the Institute of Chartered Account India (ICAI). This standard requires that we plan and perform the review 1 bta moderate assurance as to whetherthe Statement is free from material misstate < F( ......»-/ A review of interim financial information consists of making inquiries, primarily of the Company's personnel 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 specified under section 143(10) of the Companies Act, 2013 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. Based on our review conducted as above, 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 ("lnd AS") specified under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. Material Uncertainty Related to Going Concern 1. The company in its board meeting dated 21.07.2025 had declared closure of its existing Iron and Steel plant considering the technology obsolescence and increasing higher production cost due to which there is a persistent loss since last couple of years and draining the resources of the company and accordingly the Iron and Steel plant situated at Vill. Santej, Tal. Kalol, Dist. Gandhinagar, in the State of Gujarat has been shut down and as per the management, the operations of the Plant has been closed since August 2025. In view of this position, we are unable to give our opinion on the "going concern" status of the company. However, as per the representation made by management, the company is exploring various options in the best interest of its stakeholders and on that l the provision for impairment of the assets has not been made ggynhe company during the quarter and Halfyear ending on 30*h September and the accounts have been prepared on a "going concern" basis. R TEREDl\g,4' Our Opinion is not modified on the above matter. Emphasis of Matter 1. The company in its board meeting dated 21.07.2025 had declared for closure of its existing Iron and Steel plant considering the technology obsolescence and increasing higher production cost due to which there is a persistent loss since last couple of years and draining the resources of the company and accordingly the Iron and Steel plant situated at Vill. Santej, Tal. Kalol, Dist. Gandhinagar, in the State of Gujarat has been shut down and as per the management, the operations of the Plant has been closed since August 2025. In view of this position, we are unable to give our opinion on the "going concern" status of the company. However, as per the representation made by management, the company is exploring various options in the best interest of its stakeholders and on that basis, the provision for impairment of the assets has not been made by the company during the quarter and Halfyear ending on 30*" September, 2026 and the accounts have been prepared on a "going concern" basis. Our opinion is not modified on the above matter. Place: AHMEDABAD FOR, PARIKH & MAJMUDAR CHARTERED ACCOUNTANTS WMMU¢ FRN: 107525W if 4 -orO\a\;\<>m1a'L% #3/ mw0n%1'¢1's& \"@ . & CA SATWIK DURKAL -~~?"EReom5% DATE: 30-10-2026 PARTNER M. No.: 107628 UDIN: 26107628QULTVQ7224 SHAH ALLOYS LIMITED RegdOff 5l1,Shree]lHouse,BlhM.J.LIbrary,AshramRoad,Ahmedabad 380006 CIN:L2'/100GJ1990PLC014698 wvvw.sHAHALLoys.com STATEMENTOFSTANDALONEUNAUDITED FINANCIALRESULTSFORTHEQUARTERANDHALFYEARENDED30THSEPTEMBER, 2026 Amount(RSInCrores) YEAR QUARTERENDED HALFYEARENDED ENDED Particulars 30/09/2026 3olos/2o2s . 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