Please find attached Annual Report for the FY 2025-26.

Corporate Office & Communication Address: 40I Aza House, 24, Turner Road, Bandra (W), Mumbai 400 050. Website: www.panamapetro.com Phone : 9I-22-42I77777 I Fax : 9I-22-42I77788 I E-mail : ho@panamapetro.com CIN No. L23209GJI982PLC005062 July 28, 2026 BSE Limited National Stock Exchange of India Limited Pjiroze Jeejeebhoy Towers, Exchange Plaza,5th Floor,Plot No. C/1 Dalal Street, Fort,Mumbai 400 001 G Block,BKC, Mumbai-400 051 Scrip Code: 524820 Scrip Symbol :PANAMAPET Sub: Annual Report - Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/Madam, Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Annual Report for the financial year 2025-26, including the Notice convening the Annual General Meeting is attached herewith. The Annual Report of the Company is also available on the website of the Company at www.panamapetro.com We request you to take the same on your records. Thanking You. Yours faithfully, For PANAMA PETROCHEM LIMITED Gayatri Sharma Company Secretary & Compliance Officer 44th Annual Report 2025-26 02 Corporate Overview 02 - About Panama Petrochem Limited 03 - Corporate Information 04 - Chairman Statement 06 - MD & CEO Message 08 - Board of Directors 10 - Financial Highlights 11 - Global Presence 12 - People Fuelling Progress 14 - Shaping the Future Together 16 Notice 16 - Notice To know more about the Company, log on to https://panamapetro.com/ 26 Statutory Reports Aligned with our strategic priorities, we 96 remain committed to driving technological 26 - Directors’ Report advancements, enhancing operational 43 - Management Discussion and Analysis Report efficiency, and expanding our market presence. By fostering a culture of innovation 50 - Report on Corporate Governance and continuous improvement, we strive to 71 - Business Responsibility & Sustainability Report enhance productivity, optimize resource utilization, and reinforce our competitive edge in the evolving petrochemical landscape. 97 Financial Statements With a focus on resilience and adaptability, we continue to invest in initiatives that 212 create lasting value for our stakeholders and 98 - Standalone Financial Statements contribute to sustainable industry growth. 157 - Consolidated Financial Statements Panama Petrochem Limited About Panama Petrochem Limited Panama Petrochem Limited is an Indian-based company engaged in the manufacturing of specialty petroleum products, catering to diverse industries including printing, textiles, rubber, pharmaceuticals, cosmetics, and other industrial applications. The Company’s key products include liquid paraffin oil (white oil), petroleum jelly, and transformer oil. Established in 1982, Panama Petrochem Limited has built Mission Vision a strong reputation for quality, innovation, and customer-centric solutions. With a commitment to To deliver high-quality products and Striving to be a global name in the excellence, the Company continues services with a commitment to safety, petrochemical industry, recognized for to invest in research, technology, sustainability, and innovation. We operate our excellence in quality management, and infrastructure to enhance its with integrity, prioritize continuous continuous improvement, and product portfolio and manufacturing improvement, and create value for unwavering commitment to teamwork. capabilities, ensuring it meets the our stakeholders while upholding evolving needs of global markets. environmental responsibility. In addition to its manufacturing facilities in India, Panama Petrochem Limited has a strategic international Innovation Teamwork presence through its wholly-owned subsidiary, Panol Industries RMC FZE, located in Ras Al Khaimah, UAE. This facility strengthens the Company’s global footprint and enhances its ability to serve international markets Integrity Excellence efficiently. With a focus on sustainable growth, Panama Petrochem Limited is actively exploring new markets and expanding its distribution network. The Company remains dedicated to driving innovation, enhancing operational efficiency, and delivering long-term Our Values value to its stakeholders. 02 Annual Report 2025-26 Corporate Overview Notice Statutory Reports Financial Statements Corporate Information Chief Financial Officer Listed at Registered Office Mr. Pramod Maheshwari BSE Limited Plot No: 3303, G.I.D.C. Estate National Stock Exchange of India Limited Ankleshwar 393 002, Gujarat, India Tel: 91-2646-221 068 Statutory Auditor Corporate Office Fax: 91-2646- 250281 JMR & Associates LLP, Chartered Accountants, Mumbai, India 401, Aza House, 24, Turner Road Bandra (W), Mumbai 400050, India Tel: 91-22-42177777 Company Secretary & Fax: 91-22-42177788 Compliance Officer Website: www.panamapetro.com E-mail: ho@panamapetro.com Ms. Gayatri Sharma Bankers Panama Petrochem Limited Chairman Statement Transforming Potential into Sustainable Value During FY 2025-26, the Company delivered a strong financial performance, on a standalone basis, the Company’s revenue from operations increased by 10.48% to 1,961.81 Crore as compared to the previous financial year. Arif Rayani Chairman Dear Stakeholders, I am truly humbled by the Progress and Outlook On a consolidated basis, the Company’s opportunity to lead this revenue from operations increased by During FY 2025-26, the Company 9.72% year-on-year to H 3,064.26 Crore organization and it is my delivered a strong financial performance, for the year ended March 31, 2026. The privilege to address you as on a standalone basis, the Company’s consolidated Profit after tax stood at revenue from operations increased by the Chairman of Panama H 212.50 Crore, reflecting a growth of 10.48% to H 1,961.81 Crore as compared Petrochem Limited. 13.62% over the previous year. to the previous financial year. The Company’s EBITDA stood at H 210.17 This improvement in profitability was As we enter the next chapter of our Crore, registering a growth of 16.52% primarily attributable to higher sales journey, we do so with confidence in our over the previous year, reflecting volume, a favourable product mix, capabilities and a steadfast commitment enhanced operating performance and operational efficiencies, and prudent cost to creating sustainable value for all our improved margins. Consequently, the control measures across the Organisation. stakeholders. The year under review standalone Profit after tax increased Consequently, the consolidated earnings has been marked by steady progress, significantly by 22.89% to H 143.28 per share (EPS) increased to H 35.13 allowing us to build upon our strong Crore as compared to the previous year. from H 30.92 in the previous financial legacy, reinforce the trust we have Earnings per share (EPS) on a standalone year. The management remains earned over the years, and remain guided basis also improved to H 23.69 as against focused on sustaining profitable growth by the principles and values that define H 19.27 in the previous year. through capacity expansion, operational our Company. excellence, and continued strengthening of its market presence. 04 Annual Report 2025-26 Corporate Overview Notice Statutory Reports Financial Statements Our performance in a tough inflationary During FY 2025-26, the Company spent environment aptly demonstrates the H 3.79 Crore on various CSR initiatives, power and consistency of Panama reaffirming our commitment to Petrochem Limited’s strategic efforts, which helped us capitalize on our brand responsible corporate citizenship and strength while continuing to innovate sustainable development. We remain and deepen our engagement with our dedicated to creating shared value and consumers, and progress well with expanding our presence in key categories making a meaningful difference in the and report market share gains across lives of those we touch. our product portfolios. Our People and Culture At Panama Petrochem Limited, our [Showing first 8,000 characters — download PDF for full document]