Annual report for the Financial Year 2025-2026

August 4th, 2026 The Corporate Relationship Department BSE Limited, 25th Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Scrip Code: 530615 Subject: Submission of Annual Report for the Financial Year 2025-2026 of “Garg Furnace Limited” Dear Sir/Madam, Pursuant to Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we are submitting herewith the Annual Report of the Company for the Financial year ended 31st March, 2026 together with Notice convening of 53rd Annual General Meeting (AGM) of the Company scheduled to be held on Saturday, 29th day of August, 2026 at 1:00 P.M at the Registered Office of the Company at Kanganwal Road, V.P.O Jugiana, G.T Road, Ludhiana-141120 (Punjab). In compliance with relevant circulars issued by Ministry of Corporate Affairs and the Securities and Exchange Board of India, the Notice convening the 53rd AGM and the Annual Report of the Company for the financial year 2025-2026 is being sent through electronic mode to all the Members of the Company whose email addresses are registered with the Company/Company’s Registrar and Transfer Agent i.e. Skyline Financials Services Private Limited/ Depository Participant(s). The Annual Report for the financial year 2025-2026 including the Notice convening the 53rd AGM is also available on the website of the Company at http://www.gargfurnacelimited.com You are requested to take the above mentioned information on your records. Thanking You, Yours Faithfully, For Garg Furnace Limited Devinder Garg Managing Director DIN: 01665456 GARG FURNACE | ANNUAL REPORT 2025-26 www.gargfurnacelimited.com MANAGEMENT BOARD OF DIRECTORS DIRECTORS : Mr. Devinder Garg (Chairman and Managing Director) (PROMOTERS) Mrs. Vaneera Garg (Whole Time Director) Mr. Toshak Garg (Managing Director) DIRECTORS INDEPENDENT : Mrs. Amandeep Kaur Mrs. Shruti Gupta Mrs. Purti Katyal (Resigned w.e.f. 14.08.2025) Mrs. Mehak Jain (Appointed w.e.f. 14.08.2025) STATUTORY AUDITOR : M/s. Ashwani & Associates 19-A, Block-B, Udham Singh Nagar, Tagore Nagar, Ludhiana, Punjab 141001 COST AUDITOR : Anju Pardesi H No 149A, Block A, G.K. Estate Bhamian Khurd, Near Ansal Enclave, Ludhiana- Punjab-141015. SECRETARIAL AUDITOR : PDM & Associates H.No.83, New Sant Fateh Singh Nagar, Dugri Road, Ludhiana-Punjab. BANKERS : HDFC Bank REGISTERED OFFICE & WORK : Kanganwal Road, V.P.O. Jugiana, G.T. Road, Ludhiana-141120 GARG FURNACE | ANNUAL REPORT 2025-26 www.gargfurnacelimited.com CONTENTS PARTICULARS PAGE NO. Notice 1 - 31 Directors Report 32 - 61 Management Discussion and Analysis Report 62 – 68 Corporate Governance Report 69 – 88 Certificate by Chief Executive Officer (CEO) and 90 Chief Financial Officer (CFO) Corporate Governance Compliance Certificate 91 Certificate on Non-Disqualification of Directors 92-93 Proxy Form 94 Attendance Slip 95 Venue of AGM 96 Standalone Auditors Report Standalone Balance Sheet Standalone Statement of Profit & Loss Standalone Cash Flow Statement Notes to the Financial Statements Consolidated Auditors Report Consolidated Balance sheet Consolidated Statement of Profit & Loss Consolidated Cash Flow Statement Notes to the Financial Statements GARG FURNACE | ANNUAL REPORT 2025-26 www.gargfurnacelimited.com GARG FURNACE LIMITED CIN: L99999PB1973PLC003385 Regd. Office: Kanganwal Road, V.P.O. Jugiana, G.T. Road, Ludhiana-141120, Punjab Phone: 0161-2512285 Email: gargfurnace@yahoo.com, Web: www.gargfurnacelimited.com NOTICE Notice is hereby given that the 53rd Annual General Meeting of the Members of Garg Furnace Limited will be held on Saturday, the 29th day of August, 2026 at 1:00 P.M. at the Registered office at Kanganwal Road, V.P.O. Jugiana, G.T. Road, Ludhiana- 141120 to transact the following businesses: ORDINARY BUSINESS: 1. To receive, consider and adopt the Financial Statements for the financial year ended on 31.03.2026 and the Reports of Board of Directors and Auditors thereon. 2. To appoint Director in place of Smt. Vaneera Garg (DIN: 01283990) who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers herself for re- appointment. SPECIAL BUSINESS: 3. Re-appointment of Cost Auditors of the Company and in this regard to consider and if thought fit, to pass with or without modification, the following Resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to Section 148 and other applicable provisions, if any, of the Companies Act, 2013 and the Rules made thereunder, as amended from time to time, the Company hereby ratifies the remuneration of INR 25,000.00 (Rupees Twenty Five Thousand Only) plus out-of-pocket expenses payable to M/s. Anju Pardesi, Cost Accountants (Firm's Registration No. 003448) who have been appointed by the Board of Directors as the Cost Auditors of the Company, to conduct the audit of the cost records of the Company, for the Financial Year ending 31st March, 2027.” 4. To approve Material Related Party Transactions of the Company and in this regard to consider and if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Regulation 23(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, (“Listing Regulations”), the other applicable provisions of the Companies Act, 2013 (“Act”) read with Rules made thereunder, other applicable laws / statutory provisions, if any, (including any statutory modification(s) or amendment (s) or re-enactment(s) thereof, for GARG FURNACE | ANNUAL REPORT 2025-26 www.gargfurnacelimited.com the time being in force), the Company’s policy on Related Party transaction(s), and subject to such approval(s), consent(s), permission(s) as may be necessary from time to time and basis the approval and recommendation of the Audit Committee and the Board of Directors of the Company, the approval of the Members of the Company be and is hereby accorded to the Company to enter/continue to enter into Material Related Party Transaction(s)/Contract(s)/ Arrangement(s)/ Agreement(s) (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise) with entities falling within the definition of ‘Related Party’ under Regulation 2(1)(zb)of the Listing Regulations and any other applicable regulations if any to transactions the details of which are more particularly set out in the explanatory statement of this Notice, provided however that the aggregate amount/value of all such arrangements/ transactions contracts that to be entered into by the Company with the Related Party and remaining outstanding at any one point in time shall not exceed the limits mentioned below, during the financial year 2026-2027, on such terms and conditions as may be considered appropriate by the Board of Directors of the Company, provided that the said contract(s)/ arrangement(s)/ transaction(s) so carried out shall be at arm’s length basis and in the ordinary course of business of the Company. Name of Related Party and Type of Transaction(s) Value of Transactions (Rs. in crore) Nature of Relationship and Tenure of Transactions Vaneera Industries Limited Purchase of Goods Aggregate value of transactions (Formerly Known as Sales of Goods for the financial year 2026-2027 Vaneera Industries Private Rent Received should not exceed Rs. 200.00 Limited) Lease of Machinery crore. (Promoter Group Acquisition of shares Company) Corporate Guarantee Received Devinder Garg Remuneration Aggregate value of transactions (Managing Director and Unsecured Loan Received for the financial year 2026-2027 Promoter) should not exceed Rs. 1.00 crore. Vaneera Garg Remuneration Aggregate value of transactions (Whole Time Director and Unsecured Loan Received for the financial year 2026-2027 Promoter) should not exceed Rs. 1.00 crore. Toshak Garg Remuneration Aggregate value of transactions (Mana [Showing first 8,000 characters — download PDF for full document]