Transcript of 67th AGM

NESCO LIMITED T +91 22 6645 0123 Nesco Center F +91 22 6645 0101 Western Express Highway E contact@nesco.in Goregaon (East) W www.nesco.in Mumbai 400 063 3 August 2026 BSE Limited National Stock Exchange of India Limited Department of Corporate Services 5th Floor, Exchange Plaza, 25th Floor, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai - 400 001 Mumbai - 400 051 Ref: 505355 Ref: NESCO Dear Sir/Madam, Sub: Transcript of the 67th Annual General Meeting (‘AGM’) of the Company. Please find enclosed herewith the transcript of the 67th Annual General Meeting of the Company held on Monday, 27 July 2026 at 3:30 pm through video conference. The same shall also be available on the website of the Company at www.nesco.in You are requested to take the above information on record. Thanking you, Yours truly, For Nesco Limited Shalini Kamath Company Secretary & Compliance Officer Mem No. A14933 CIN L68100MH1946PLC004886 NESCO LIMITED TRANSCRIPT OF 67TH ANNUAL GENERAL MEETING HELD ON MONDAY, 27 JULY 2026 AT 3 :30 P.M. THROUGH VIDEO CONFERENCE Page 1 of 20 Krishna S. Patel: Namaste! On behalf of the Board of Directors at Nesco, I welcome you all to the 67th AGM of your Company. I have joined this meeting from Mumbai. The requisite quorum being present through video conference, I call the meeting to order. Joining the meeting online from Mumbai, starting from my right, we have Mr. Arun Todarwal, Independent Director and Chairman of the Audit Committee; Mr. Manish Panchal, Independent Director; Ms. Sudha Patel, Non-Executive, Non-Independent Director and Chairperson of Stakeholders Realtionship Committee and Corporate Social Respsonsiblity Committees. Starting from my left, we have Ms. Amrita Chowdhury, Independent Director and Chairman of Nomination and Remuneration Committee; Dr. Ramakrishnan Ramamurthi, Independent Director; Mr. Rajesh Upadhyay, Executive Director (Commercial and Operations). And on behalf of the Board, I welcome Mr. Upadhyay to his first AGM with the Company. He has joined the meeting from Karamsad, which is in Gujarat. Mr. Dipesh R.Singhania, Chief Financial Officer; Ms. Shalini Kamath, Company Secretary and Complaince Officer have joined this meeting from the Registered office of the Company. Mr. Sharad Gupta, Partner of S G D G & Associates LLP, our Statutory Auditors and Ms. Neeta Desai of ND & Associates, our Secretarial Auditor, have also joined us for this meeting. I now invite our Company Secretary, Ms. Shalini Kamath to provide details of the agenda and e-voting process. Shalini Kamath: Thank you, Chairman. The Notice convening this meeting; the report of Board of Directors; the financial statements, standalone and consolidated, for the financial year ended 31st March 2026 was circulated to all members in compliance with the applicable provisions of the Companies Act, 2013, MCA circulars issued from time to time and the Listing Regulations and I take them as read. Since this meeting is held through audio-visual mode, the requirement of appointing proxies and its related compliances are not applicable. The Company has received three representations under Section 113 of the Act from the promoter group companies covering a total of 2,94,19,218 equity shares of the Company. As required under the Companies Act, 2013 the Register of Directors and Key Managerial Personnel and their shareholdings and other statutory registers and documents as mentioned are available for inspection electronically. Page 2 of 20 The auditor's report on the standalone and consolidated financial statements of the Company for the financial year ended 31st March 2026 does not contain any qualifications, observations or comments on the financial transactions or matters which have an adverse effect on the functioning of the Company. In terms of Section 145 of the Companies Act, 2013 only the qualifications, observations and comments mentioned in the auditor's report which have an adverse impact on the working of the Company needs to be read at the meeting. Since there are no such qualifications, the auditor's report is not required to be read. The secretarial audit report issued by the Secretarial Auditor and the Corporate Governance Report issued by the Statutory Auditors does not have any observations and I take them as read. The Company has provided facility for e-voting to its shareholders to exercise their right to vote on all the resolutions proposed to be passed at the meeting. As per the provisions of the Companies Act, 2013 and SEBI LODR, your Company has provided its members facility to cast its votes electronically on all resolutions set forth in the Notice convening the 67th AGM of the Company through the NSDL platform for remote e-voting and e-voting at the AGM. The remote e-voting facility was open from 9:00 am on Thursday, 23rd July '2026 till 5:00 pmon Sunday, 26th July 2026. Shareholders who have not cast their vote through remote e-voting can do now so through the e-voting during the meeting through the e- voting website of NSDL. The detailed procedure of e-voting is also mentioned in Note number 24 to the Notice of the AGM from Page 252 to 264 of the Annual Report. Ms. Neeta H. Desai of ND & Associates, Practicing Company Secretary, is appointed as a Scrutinizer for conducting e-voting process held prior and during the AGM. All shareholders who have joined this meeting are placed on mute mode by default to ensure smooth functioning and transmission of the meeting proceedings. During the question-and-answer session, I will announce the names of the shareholders who have registered themselves as speakers for this meeting in a sequence. The line of the respective shareholder shall be unmuted by the moderator when their name is called out by me. Shareholders while asking questions or seeking clarifications can put their video on. In case any shareholder is facing any technical issue during video transmission, they can raise their question through the audio mode. During the meeting, if shareholders are facing any other technical problem related to video transmission, they can contact the helpline numbers given on Page 257 of the Notice. Page 3 of 20 Since the proceedings of this meeting are being recorded, you are kindly requested to refrain from disclosing any sensitive personal information or personally identifiable details whether pertaining to yourself or others that are not relevant to the business of this meeting. The flow of the AGM is as follows. Mr. Krishna Patel, the Chairman of the meeting, will start his AGM speech. We will then move all the resolutions as set forth in the Notice of the AGM and will then put them to vote and will then move to the question- answer session. Shareholders can vote during the course of the meeting or after the question-and- answer session. The combined results of remote e-voting and voting at the AGM will be announced within the timeline prescribed under law and will be also made available on the Company's website as well as the website of NSDL and the stock exchanges. I now request the Chairman to commence his address. Krishna S. Patel: Thank you, Shalini. India continues to stand out as one of the world's fastest-growing major economies, supported by robust domestic demand, improved public infrastructure and rapid urbanization. These structural drivers closely align with most of Nesco's divisions, reinforcing our confidence in the long-term growth prospects of each of our businesses. The commercial real estate market continues to benefit from healthy demand for premium Grade -A office spaces, driven by the expansion of GCCs (Global Capability Center), MNCs and India's thriving services sector. The hospitality segment is witnessing robust growth, supported by rising disposable incomes, evolving consumer preferences and an increasing inclination towards elite dining experiences. The exhibitions and events industry continue to gain momentum, driven by rising corporate partici [Showing first 8,000 characters — download PDF for full document]