Outcome of Board Meeting

Date: November 5, 2026 Bombay Stock Exchange Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Tower, Dalal Street, Fort, Exchange Plaza, Bandra Kurla Complex, Bandra Mumbai-400001 (E), Mumbai-400051 Scrip Code: 513509 Symbol: KALYANIFRG Sub: Outcome of the Board Meeting held on November 5, 2026 Dear Sir / Madam, In terms of the provisions of Regulation 30 and 33 (read with Part A of Schedule III) and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to intimate you that the Board of Directors of Kalyani Forge Limited, in its meeting held on Thursday, November 5, 2026, has approved the following: - 1. Unaudited Standalone Financial Results for the quarter and half year ended September 30, 2026, along with Limited Review Report. The Limited Review Report of the Statutory Auditors of the Company is submitted with a disclaimer of opinion. A copy of the aforesaid Financial Results along with the Limited Review Report of the Statutory Auditors thereon and the reply of management in Annexure A is enclosed therewith. 2. The Board has given an In-principle approval for exploring the options for raising and mobilising funds by way of issue of equity shares and/or other eligible securities through one or more permissible modes subject to the approval of the shareholders of the Company and such statutory/regulatory approvals. The Board Meeting commenced at 2.00 P.M. and concluded at 3.55 P.M. Kindly take the above on record. For Kalyani Forge Limited Viraj G. Kalyani Managing Director DIN: 02268846 CIN: L28910MH1979PLC020959 REGD OFFICE: Shangrila Gardens, 1st Floor, ‘C’ Wing, Opp. Bund Garden, Pune: 411001 Tel. +91 2137 252335/755 Fax +91 2137 252344 Website: www.kalyaniforge.com Email: companysecretary@kforge.com KALYANI FORGE Annexure-A Management Response basis on the Opinion given by Auditors (Schedule-IV-Part-A- Paragraph-C of SEBI(LODR) Regulations 2015) 1. The Company has been in the process of refining its stock valuation methodology since prior financial years. This involves updating standard rates for material, labour and overheads based on the current prevailing rates and relevant data. As the said process is not completed, the quantities and valuation of inventories and the consequential impact thereof, if any on the cost of raw materials and components consumed and the changes in inventories of finished goods, work in progress and stock in trade is unascertainable. Reply by Management: We have Corrected all Live parts Inventory Rates for Consistency and adherence to IND AS-2.We received further Inputs from Auditors underline Calculations and have Plan to Incorporate the Same in the next iteration in Q3 FY 27. 2. Balance of trade receivables, trade payables and stock with vendors are subject to confirmations, reconciliations, and consequential adjustments, if any. Consequently, we are unable to obtain sufficient and appropriate audit evidence. We were unable to satisfy ourselves even after applying alternative means concerning such balances. Reply by Management: - We received additional balance confirmations from both vendors and customers in Q2. Reconciliation of differences with standard reason codes willb e provided for verification. We will get more balance confirmations over the next quarter to cover 80% of vendors and customers by value. 3. Balances of amount appearing under Property, plant and equipment and other assets -GST input tax credit arnd sales reported in GSTR 1 are subject to reconclialions, and consequential adjustments, if any. We were unable to satisfy ourselves even after applying alternative means concerning such balances. CIN: L28910MH1979PLCO20959 REGD OFFICE: Shangrila Gardens. 1st Floor, 'C' Wing, Opp. Bund Garden, Pune: 411001 Tel, +91 2137 252335/755 Fax +91 2137 252344 Website: www.kalyaniforge.com Email: companysecretary @kforge.com KALYANI FORGE KALYANI Reply by Management: - Due to an SAP configuration error some tags are missing in Asset Register. So, Asset Master Data will be updated and any corrective entries would be made it required. We have shared the GST Reconciliation data for Q2 26. We received some Input from Auditor and will reconcile the differences if any. We have been given to understand that the Company is in the process of updating the relevant documentation for internal financial control over financial reporting. In the absence of necessary documentation, we could not determine if the Company has established adequate internal financial control with reference to financial statements and whether such internal financial controls were operating effectively as at September 30, 2026. Reply by Management: New poliçy and process documents are prepared for Finance and other critical departments which incorporate RCM controls. The company and management Opinion is that, company has adequate Financial Control Over Financial Reporting and take Required steps in Improving and Implementing the Financial Control Policies from time to time to have better Reporting System in Place. The IFC system is Updated in Line with latest Requirement and Testing of Controls. For Kalyani Forge Limited Mrs. Rohini G. Kalyani Executive Chairperson DIN : 00519565 CIN: L28910MH1979PLCO20959 REGD OFFICE: Shangrila Gardens. 1st Floor, C' Wing, Opp. Bund Garden, Pune: 411001 Tel. +91 2137 252335/755 Fax +91 2137 252344 Website: www.kalyaniforge.com Email: companysecretary(@kforge.com