Outcome of Board Meeting

5th November, 2026 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai – 400001 Bandra (East), Mumbai – 400051 Scrip Code: 532357 - EQ Symbol: MUKTAARTS - EQ Kind Attn: Corporate Relations Department Dear Sir/Madam, SUB.: OUTCOME OF BOARD MEETING PURSUANT TO REGULATION 30 OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 We wish to inform you that Board of Directors at its meeting held today i.e.5th November, 2026 has inter alia has considered and approved the Un-audited Financial Results (Standalone and Consolidated) for the quarter and half year ended 30th September, 2026 duly reviewed and recommended by the Audit Committee. We are enclosing the herewith Un-audited Financial Results (Standalone and Consolidated) for the quarter and half year ended 30th September, 2026 along with the Limited Review Reports issued by the Statutory Auditors of the Company. Meeting of the Board of Directors commenced at 4:41 p.m. and concluded at 5:05 p.m. Kindly take note of above information on your records. Thanking you. Yours faithfully, For Mukta Arts Limited Pratiksha Panchal Company Secretary & Compliance Officer Encl: a/a G A M S & ASSOCIATES LLP Chartered Accountants Independent Auditor’s Review Report on Quarterly Unaudited Standalone Financial Results of Mukta Arts Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The Board of Directors Mukta Arts Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results of M/s Mukta Arts Limited (“the Company”) for the Quarter Ended September 30, 2026 (“the statement”) attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 and 52 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulations, 2015 (‘Listing Regulations’) as amended. 2. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" 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, read with the Circular is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. 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 Engagement (SRE) 2410, “Review of Interim Financial Information performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance 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. DELHI: 4831/24, Ansari Road, Daryaganj, New Delhi – 110 002 Ph: 011- 23288018, 43539041 W: www.gamsllp.in; E: contactus@gamsllp.in G A M S & ASSOCIATES LLP Chartered Accountants 4. As at September 30, 2026, the company’s investment in its subsidiary (including deemed investment), Whistling woods International Limited (WWIL) a joint venture between the company and Maharashtra Film, Stage and Cultural Development Corporation Limited (MFSCDCL), aggregates Rs. 98,76,89,227/- towards Share Investments, loans and advances, deposits, arrears of rent and interest thereon. Also, as per the High Court's Order which is under challenge from the Company, there is an option to set-off the arrears of rent and interest thereon against the value of the building with net excess or shortfall to be refunded to/claimed from Mukta Arts Limited, the Holding Company/Company, as applicable. During the year 2012- 13, the Public Works Department (PWD) Engineer had given his valuation report of Institute building based on the Balance sheet of the Company as at March 31, 2011. MFSCDCL vide letter dated July 14, 2014, demanded Rs. 59,19,66,210 towards arrears of rent and interest thereon, up to July 31, 2014. WWIL’s petition for special leave to appeal filed with the Supreme Court of India had also been dismissed. The Company and WWIL had filed application to review the said order with the High Court and an Interim stay was granted on July 30, 2014 which required deposit of Rs.10,00,38,000/- by January 2015 against payment of arrears of rent for the year 2000-01 to 2013-14 and payment of Rs.45,00,000/- per annum from Financial Year 2014-15 till the settlement of the case, to MFSCDCL. As per the terms of the said Order, till financial year 2016-17, Rs. 11,35,38,000/- has been paid by the Company and for financial year 2017-18 to 2021-22 Rs. 45,00,000/- per annum has been paid by WWIL. The State Govt. of Maharashtra and MFSCDCL challenged the order of the High Court in the Supreme Court which was dismissed by the Supreme Court on September 22, 2014. The amount so paid / being paid by the Company have been accounted under Non-Current Other Financial Assets in the Standalone Financial Statements to be adjusted on the settlement of the case. Management of WWIL informs that these will be accounted as an expense, if required, on the settlement of the case. Further, we are informed that there is no development in the current quarter in respect of the litigation pending with the High Court. Additionally, without giving effect to the matter as stated above, WWIL's net worth stands fully eroded as at September 30, 2026. Having regard to the circumstances explained above and pending final outcome of the matter under litigation, the Company has not made any adjustment to the carrying value of investment in and amounts due from WWIL and the deposit paid consequent to the High Court’s Orders. Accordingly, the impact on the carrying value of DELHI: 4831/24, Ansari Road, Daryaganj, New Delhi – 110 002 Ph: 011- 23288018, 43539041 W: www.gamsllp.in; E: contactus@gamsllp.in investments, recoverability of loans and advances and consequential impact on loss for the year and reserves is not determinable. 5. Based on our review conducted as above, except for the matters relating to the investment in and loans and advances and interest recoverable from WWIL referred to in paragraph 4 above, the outcome and consequent adjustment to the unaudited financial results of which cannot be presently determined, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with the recognition and measurement principles laid down in aforesaid Indian Accounting Standards (Ind AS) specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement. For G A M S & ASSOCIATES LLP Chartered Accountants FRN: 005104/ N500094 LLP REGN: AAJ-7552 CA PUSHPENDRA SURANA Partner M No: 504087 New Delhi Date: November 5, 2026 UDIN: 26504087JXVZCC7298 G A M S & ASSOCIATES LLP Chartered Accountants Indepe [Showing first 8,000 characters — download PDF for full document]