Attached herewith 82nd Annual General Meeting Notice and Annual Report for the year ended 31st March, 2026.

------------------------------------------------------------------------------------------------------------------------------- August 1, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, “Exchange Plaza”, Dalal Street, Bandra-Kurla Complex, Bandra (E), Mumbai – 400001 Mumbai - 400051 Scrip Code: 523384 Scrip Code: MAHAPEXLTD Dear Sir/Madam, Sub: Submission of AGM Notice and Annual Report for Financial Year 2025-26. The Eighty second (82nd) Annual General Meeting (AGM) of the Company is scheduled to be held on Monday, 24th August, 2026 at 11:00 a.m. (IST) through Video Conferencing (VC) or Other Audio Visual Means (OAVM) in compliance with MCA circulars. Pursuant to Regulation 34(1)(a) of Listing Regulations, please find enclosed herewith electronic copy of the Annual Report for the Financial Year 2025-26 along with the Notice of 82nd AGM. The said Notice of the AGM and Annual Report has been sent today i.e. 1st August, 2026 by email to those Members whose email addresses are registered with the Company/ Registrar and Share Transfer Agent/ Depository Participant(s). The said Annual Report and Notice of AGM are also available on the website of the Company at www.maharashtraapex.com. The Company is providing remote e-voting & e-voting at AGM facility to the members through electronic voting Platform of Central Depository Services Limited (CDSL). Members holding shares either in physical form or dematerialized form as on cut-off date i.e. Monday, 17th August, 2026 may cast their votes electronically on the resolutions included in the Notice of 82nd AGM. The remote e-voting shall commence from 9:00 a.m. (IST) on Thursday, 20th August, 2026 and shall end at 5:00 p.m. (IST) on Sunday 23rd August, 2026. Kindly take same on record. Thanking you, Yours faithfully, For Maha Rashtra Apex Corporation Limited (Arvid Ganesh Mallya) Company Secretary & Compliance Officer M. No. A060117 TABLE OF CONTENTS Section Page No. Notice of Annual General Meeting 1 Directors' Report (including Annexures) 20 Management Discussion & Analysis Report 41 Secretarial Audit Report MR-3 46 Corporate Governance Report 54 Independent Auditor's Report - Standalone 77 Financial Statements Standalone Financial Statements & related 94 notes to Accounts Independent Auditor's Report - Consolidated 121 Financial Statements Consolidated Financial Statements & related 134 notes to Account BOARD OF DIRECTORS & KMP`S Mr. Bhoja K Shetty Mrs. Vidya Mananjay More Chairman Independent Director Independent Director – upto 26th May, 2026 Mr Aspi Nariman Katgara Mr. Nagarajan Sivaramakrishnan Managing Director – upto 26th May, 2026 Independent Director – upto 26th May, 2026 Mr. Cyrus D Khambata Chief Financial Officer: Managing Director – w e f 26th May, 2026 Mr. Jamsheed M Panday Mr. Jamsheed M Panday Company Secretary & Compliance officer: Whole Time Director- w e f 26th May, 2026 Mr. Jamsheed M Panday –upto 26-05-2026 Mr. Arvind Ganesh Mallya – w e f -26-05-2026 Mrs. Jyothi V B Mr. Yazdin Mistry Independent Director Non –Executive Non-Independent Director BANKERS : Statutory Auditors: Canara Bank M/s.H G Sarvaiya& Co Union Bank of India Chartered Accountants Secretarial Auditors: Internal Auditor: P M Agarwal & Co. Ms. Nita J Desai Company Secretaries SHARE TRANSFER AGENTS : M/s. Purva Sharegistry (India) Pvt Ltd. Unit Maha Rashtra Apex Corporation Ltd 9 Shiv Shakti Industrial Estate 7-B J R Boricha Marg Opp: Kasturba Hospital, Lower Parel (E) Mumbai-400 011. REGISTERED OFFICE: A D M INISTRATIVE OFFICE: 3rd Floor, Front Wing Kanara House North Block, Manipal Centre M A N I P AL -576104 47, Dickenson Road BENGALURU – 560042 NOTICE NOTICE IS HEREBY GIVEN THAT THE 82ND ANNUAL GENERAL MEETING OF THE MEMBERS OF MAHA RASHTRA APEX CORPORATION LIMITED (HEREINAFTER REFERRED AS “COMPANY”) WILL BE HELD ON MONDAY, 24TH AUGUST 2026 AT 11:00 AM. THROUGH TWO-WAY VIDEO CONFERENCING (‘VC’) FACILITY OR OTHER AUDIO- VISUAL MEANS (‘OAVM’) TO TRANSACT THE FOLLOWING BUSINESSES: ORDINARY BUSINESS: 1. To receive, consider and adopt the Standalone and Consolidated Audited Financial Statement for the year ended 31st March, 2026 together with the Reports of the Board of Directors and Auditors thereon. 2. To appoint a director in place of Mr. Yazdin Mistry (DIN-07897995) who retires by rotation and being eligible, offers himself for re-appointment. SPECIAL BUSINESS: 3.APPOINTMENT OF MR. CYRUS D KHAMBTA (DIN: 00553813), AS A DIRECTOR OF THE COMPANY. To consider and if thought fit, to pass the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Section 149, Sections 152 and all other applicable provisions of the Companies Act, 2013 read with Rules made thereunder [including any statutory modification(s) or re-enactment(s) thereof for the time being in force] and as per relevant provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015 (including any amendments thereto or re-enactment thereof, for the time being in force) (hereinafter collectively referred to as the “Applicable Laws”) Mr. Cyrus D Khambata (DIN: 00553813), who was appointed as Additional Director-Executive Category by the Board of Directors on the recommendation of the Nomination and Remuneration Committee, be and is hereby appointed as Director in Executive Category of the Company, liable to retire by rotation. RESOLVED FURTHER THAT the Board of Directors of the Company and / or Company Secretary of the Company be and are hereby severally and/or jointly authorized to do all such acts and take all such steps as may be necessary, proper or expedient to give effect to this resolution”. 4.APPOINTMENT OF MR. CYRUS D KHAMBATA (DIN: 00553813),AS A MANAGING DIRECTOR OF THE COMPANY To consider and if thought fit, to pass the following resolution as a Special Resolution: “RESOLVED THAT, pursuant to the provisions of Section 196, 197, 198, 203 and other applicable provisions of the Companies Act, 2013, and Schedule V of the Act read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and other applicable rules, regulations issued by the Ministry of Corporate Affairs in this regard and other applicable Regulations of SEBI (LODR) Regulations, 2015 including any statutory amendments, modifications or reenactment thereof and all other statutory approvals, as may be required and on recommendation of Nomination and Remuneration Committee and of the Board, Consent of the Members of the Company, be and is hereby accorded to the appointment of Mr. Cyrus D Khambata (DIN:000553813) as Managing Director of the Company for a period of 5 (Five) years with effect from 26th May, 2026 on the terms and conditions including remuneration as set out in the explanatory statement annexed to the Notice convening this meeting, with liberty to the Board of Directors to alter and vary the terms and conditions of the said re-appointment including remuneration in such manner as may be agreed between the Board of Directors and Mr. Cyrus D Khambata. RESOLVED FURTHER THAT the Board of Directors be and is hereby authorised to do all such acts and take such steps as may be necessary, proper or expedient to give effect to this resolution.” 5. APPOINTMENT OF MR. JAMSHEED MINOO PANDAY (DIN: 00232768),AS A DIRECTOR (EXECUTIVE CATEGORY) OF THE COMPANY. To consider and if thought fit, to pass the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Section 149, Sections 152 and all other applicable provisions of the Companies Act, 2013 read with Rules made thereunder [including any statutory modification(s) or re-enactment(s) thereof for the time being in force] and as per relevant provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015 (including any amendments thereto or re-enactment thereof, for the time being in force) (herei [Showing first 8,000 characters — download PDF for full document]