Copy of Newspaper Publication

PGIL/SE/2026-27/47 Date: August 06, 2026 THE GENERAL MANAGER, THE GENERAL MANAGER, DEPARTMENT OF CORPORATE SERVICES - CRD LISTING DEPARTMENT BSE LIMITED NATIONAL STOCK EXCHANGE OF INDIA 1ST FLOOR, NEW TRADING RING LTD. ROTUNDA BUILDING, P. J. TOWERS “EXCHANGE PLAZA”, PLOT NO. C- 1, DALAL STREET, FORT, G- BLOCK, BANDRA - KURLA COMPLEX, MUMBAI – 400 001 BANDRA ( E ), MUMBAI - 400 051 Reg: Scrip Code: BSE-532808; NSE - PGIL Subject: Intimation of Newspaper Publication of Un-audited Financial Results for the Quarter ended June 30, 2026 Dear Sir/Madam, Pursuant to Regulation 47 and other applicable Regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith copies of Newspaper Publication of Un-audited Financial Results (Standalone and Consolidated) for the Quarter ended June 30, 2026, published in the Business Standard English (All India edition) and Business Standard Hindi on August 06, 2026. You are requested to take the same on your records. Yours faithfully, for Pearl Global Industries Limited (Shilpa Saraf) Company Secretary and Compliance Officer ICSI M. No.: ACS-23564 Encl: as above Pearl Global Industries Limited Regd. & Corp. Office: Pearl Tower, Plot No. 51, Sector-32, Gurugram – 122001, Haryana (India) Tel: +91-124-4651000 l E: info@pearlglobal.com CIN: L74899HR1989PLC140150 w w w . p e a r l g l o b a l . c o m From UTI monopoly and assured returns to SIP boom How the continuing reforms in the MF space have created an over ~82 trillion powerhouse years of “Physical transfer of shares was a problem for institutional players such as MFs,” says Sivasubramanian K N, retired liberalisati n chief investment oicer (equity), Frank- lin Templeton Asset Management. “Sebi’s establishment, NSE’s creation and dematerialisation of shares were all linked to the reforms that followed the scam,” he adds. Sebi sets the rules The first set of Sebi MF regulations was sanjay kumar singh, abhishek kumar & notified in 1993. These were revised and karthik jerome replaced by the more comprehensive New Delhi & Mumbai, 5 August Sebi (Mutual Funds) Regulations of 1996. “It was a state monopoly with a govern- “These regulations established the ment guarantee attached,” Dhirendra trust structure, separated the trustee Kumar, founder of Value Research, says and the asset management company One of Sebi’s far-reaching changes was asking AMCs to publish the daily net asset value, helping investors compare performance between schemes photo: reuters about the mutual fund (MF) industry (AMC), and introduced the requirement that existed before the economic liberal- for a custodian and a minimum net with the intrinsic value of the units,” big jump in MF investments, and a huge easy-to-use investment apps trans- of everyday household financial plan- isation of 1991. worth for sponsors,” says Kumar. says M Damodaran, chairperson, Excel- wave of new investors and money that formed investing. ning,” says Chalasani. The Indian MF industry was the staid Sebi insisted on the publication of lence Enablers, and former chairman, flooded the markets. “Lockdowns left Since then, investor risk appetite has Growth has been strong. However, MF preserve of state-backed institutions daily net asset value (NAV) and regular Sebi, UTI and IDBI. families with extra savings. Low interest risen and the equity culture has spread penetration in India remains low com- offering assured-return schemes. The portfolio disclosures. “This made MF Large institutional investors entered rates on traditional investment options even to smaller towns. Investors increas- pared to developed global markets. That Unit Trust of India (UTI) dominated the investments visible and enabled com- the scheme towards the latter part of the pushed younger investors towards MFs,” ingly prefer market-linked financial is something the industry is looking to market for more than two decades before parison between schemes,” says Kumar. 1980s. “Their participation contributed says Chalasani. He adds that the wide- assets over traditional physical assets change. “Now that the ecosystem is devel- 1991. Later, public-sector institutions to volatility and the continuing imbal- spread use of smartphones, online such as gold or real estate. “Post-Covid oping, penetration is likely to improve such as State Bank of India, Life Insur- Enter private players ance,” says Damodaran. know-your-customer verification, and investors view MFs as a core component further,” says an optimistic Singh. ance Corporation of India, General The 1993 Sebi mutual fund regulations The crisis sparked deep concern Insurance Corporation of India, Canara allowed private-sector entities to set up among unit holders about liquidity, Bank, Punjab National Bank, and Bank MFs. Madras (now Chennai)-based safety and assurance of returns. of India set up their own MF arms. Kothari Pioneer launched India’s first UTI split the portfolio of US-64 into “Investors did not choose between private-sector open-ended fund in one part that became NAV-based and fund houses but between government November 1993. another that could not. The NAV-based agencies,” says Kumar. “Private players introduced profes- part came within Sebi’s remit. Equity investing had not taken root sional fund management as a product “UTI addressed the non-NAV-based back then. Most Indian investors pre- differentiator,” says Kumar. portion of US-64 and the monthly ferred fixed deposits and valued cer- Early private-sector entrants found it income plans (MIPs) by issuing tax-free tainty of return more than diicult to sell market-linked products. bonds to holders. The government guar- market-linked outcomes. “Selling equity funds was diicult. The antee did not have to be invoked,” says UTI designed products for such main issue was explaining the product,” Damodaran, who became chairman of investors. Unit Scheme (US)-64 was recalls Sivasubramanian. Investors were UTI in July 2001 and played a major role among the biggest of that period. “Inves- used to fixed deposits that provided cer- in managing the crisis and restructuring tors perceived US-64 as a slightly better tainty of return. “They now had to the organisation. fixed deposit that was safer than stocks understand products that were marked- and more rewarding than post oice to-market on a daily basis,” he adds. No-load reform to curb mis-selling schemes,” says Kumar. The first adopters were people who Another big change came when Sebi All of that changed, when the reforms already invested in stocks. “It was only abolished entry load, the fee paid when of 1991 transformed the premise on after MFs established five- and 10-year buying into an MF, in August 2009 to which the Indian economy operated. It performance history that investors address the distortion in distribution created a market environment that made could understand the behaviour of this caused by it. the transformation of MFs possible. product,” says Sivasubramanian. “Switching from one product to Cut to June 2026, and that ecosystem Analysts, too, struggled to evaluate another merely to earn higher commis- has evolved into a thriv- fund performance in sions is now largely a thing of the past,” ing marketplace that the early years. NAVs, adds D P Singh, deputy managing direc- manages assets worth today’s regulated when available, often tor (MD) and joint chief executive oicer ~82.2 trillion, with about investment appeared in newspapers (CEO), SBI Mutual Fund. 105 million active system- ecosystem is the a day late. Fund houses Then in October 2018, Sebi asked atic investment plan (SIP) outcome of a steady did not publish port- asset management companies (AMCs) accounts that garnered stream of reforms folios in the early 1990s. to move to a trail-based distributor ~31,781 crore, according to that has provided “They lacked proper commission, or a yearly fee, to curb the Association of Mutual the plumbing for data infrast [Showing first 8,000 characters — download PDF for full document]