The Newspaper Publication of Unaudited standalone Financial Results of the Company for the Quarter ended 30.06.2026

UPSURGE Upsurge Investment & Finance Ltd. Date: 11th August, 2026 The Manager The Corporate Relationship Department, Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 Scrip Code: 531390 Sub- Intimation on publication of newspaper advertisement pursuant to Regulation 47 of SEBI (LODR) Regulations, 2015. Dear Sir/ Madam. With reference to the above captioned subject please find enclosed newspaper advertisement published in following newspapers on Tuesday, 11th August, 2026: Business Standard (English Daily Newspaper) and Mumbai Mitra (Marathi Daily Newspaper) as required to be given under Regulation 47 in respect of unaudited financial results of the company for the quarter ended on 30th June, 2026. We request you to kindly take the same on your record. Thanking you Yours faithfully, For Upsurge Investment & Finance Limited Daya Dhavalbhai Shavni Company Secretary and Compliance Officer Encl:a/a Regd. Office: 303, Morya Landmark-1, Behind Crystal Plaza, Opp. New Link Road, Andheri (W), Mumbai - 400 053. Tel: 91-22-67425441/42 E-mail: info@upsurgeinvestment.com CIN: L67120MH1994PLC079254 ‘1991 crisis a result of fiscal profligacy, political instability’ years of de-industrialisation. insurancetoprivateparticipation.Fifth intelligence(AI)andtheweaponisa- Whatweachievedby1993wasmacro- waspower-sectorreformthroughthe tionoftrade.Whatwouldsucharein- liberalisati n economicstability,restoredinvestorcon- ElectricityAct,2003,whichdelicensed ventionlooklike? fidence,de-licensing,andanacceptable generation,enabledopenaccess,and n Threethings.First,FDI:Indiastill inflationrangewithrisinggrowth.Oneof unbundledstateelectricityboardsinto drawsfarlessthanitspotential—around ourIMFinterlocutorstoldme:Indiaisa separategeneration,transmission,and 0.4-0.5percentofGDP,againstarealistic tigerthathasbeencagedfordecades— distributioncompanies.Intheseways, targetcloserto3percent.Second,legal injured,butnowroamingfree,digging Vajpayeestrengthenedandbroadened reform:Indiahasafair,transparent uplong-delayedreforms.Hisworrywas thefoundationslaidin1991—and,per- judiciary,butlagsasacredibleseatfor thatonceitswoundshealed,itmight hapsmoreimportantly,helpedestab- commercialdisputeresolutioncom- returntoitscage,tocomplacency.Hewas lishthateconomicreformwasnolonger paredeventotheGulf,letaloneSinga- >FROMPAGE1 hintingattheunfinishedagenda:Land, theagendaofonegovernmentorone poreortheUK—fast-trackcommercial labour,capital.Suchwasoursuccess,in party,butpartofabroadernational courtswouldmeaningfullyliftIndia’s Wastheresponsetothecrisisdrivenby fact,thatweexitedtheIMFprogramme consensusonIndia’seconomicfuture. growthtrajectory.Third,integratingAIas convictionorcompulsion? twoyearsearly,inJune1993,curtailing aproductivityenhancerratherthan n IcallthephenomenonthetripleC: theFund’sabilitytopressusfurtheron HowshouldIndiasetmacroeconomic treatingitasexternaltoeconomicactiv- Circumstances,compulsionandconvic- thoseveryreforms. targetsinanincreasinglyuncertain, ity—alongsidescalingupapprentice- tion.Thelinebetweenthemshiftsover Inthatsense,theverysuccessofthe volatileworld? shipandskillingprogrammes,and time—circumstancesshapecompul- Indiannegotiators—ofwhichIwas n MacrostabilityisdeartothePrime buildingfurtheronIndia’sroleinglobal sions,andwhencompulsionsproduce privilegedtobeapart—alsocontained Minister(NarendraModi)personally. capabilitycentres. goodoutcomes,theybecomepartof ourfailure.Manyhavesaidthatwegot Fiscalrectitude,notprofligacy,hasbeen one’sconviction.Ourcircumstances— awayratherlightly:Thatweduckedthe NKSinghwasoneofIndia’skeyinterlocutorswiththeWorldBankand hisconsistentinstinct,evidentacross Thereisrealrivalryamongmiddle politicalinstability,fiscalprofligacy,shat- morebasicreformsofland,labour,and InternationalMonetaryFundduringthe1991balance-of-paymentscrisis bothBJPgovernments’FRBMinitiat- powers,includingIndiaandChina. teredinvestorconfidence—leftlittle capital,deferringthemtoanotherday. ives:theoriginal2003Actunder Caneconomiccooperationstillgrow? optionbuttoactaswedid;andbecause Theseremainunfinished. toIndia,evenwhileacceptingthemacro sectorandlaidinfrastructurethat Vajpayee,andthereviewcommitteeI n Theworldisnolongerbipolar;itis theoutcomesweregood,theybecame adjustmentsonthefiscalandcurrent informationtechnology(IT)andIT- chairedunderModi. plurilateral.Coalitionsformaroundspe- partofourconviction. WasthereanythingtheIMForWorld accountside.Shuklawasthebalancing enabledservicesfirmswouldlaterbuild Thepandemicupsetthattrajectory. cificissues—energy,technology,AI— Afewfeaturesstandout.First,the Bankpushedthegovernmenttodo, factor,withSinghtakingthefinalcall. on,feedingintoIndia’sdigital-services Thefinanceministerhassinceseta ratherthanasoverarchingblocs.India ethoswithintheIMFandWorldBank butitdidnotbudge? Singhwasanexceedinglydemocratic expansionanditsemergenceasahubfor fresh,morerealisticterminaltargetof50 haslongchampionedtheGlobalSouth, hadalreadychanged,whichmeantyou n Manythings—agriculturalreforms, financeminister. globalcapabilitycentres. percent,plusorminus1percent,by andmiddlepowers—Brazil,European couldnotaccessoneinstitution’s labourreforms,afasteropeningofthe Secondwashighwayconnectivity, FY31fortheCentre,recognisingthattoo countriesnowrelegatedfromgreat- resourceswithoutsatisfyingtheother’s capitalaccount,deeperchangestothe HowdidPrimeMinisterAtalBihari complementedbythePradhanMantri sharpafiscalcompressionwouldcom- powerstatus,Australia,Indonesia—all terms.Second,PrimeMinisterPVNara- foreigndirectinvestment(FDI)regime, Vajpayeecarryforwardtheliberalisa- GramSadakYojanaforruralIndia.Third promisegrowth.Thecriticalvariable havearoletoplayinimprovingcooper- simhaRao’sunderstatedsagacity.Herec- andearlymovesonthestatutoryliquid- tionprocess? wastheFiscalResponsibilityandBudget remainsthegrowthrate:At7-8percent, ation,notdeepeningrivalry.Onclimate ognisedthatreformsofthisscale ityratio),cashreserveratioandbanking- n Vajpayeewasacutelyawareofthe1991 ManagementActof2003itself,which thedebt-to-GDPratiowillfallfasteron finance,forinstance,thefactthattheUS requiredbuildingsupportacrossthe sectorcompetition. crisis,andseniorBJPleadershad,in embeddedfiscalprudenceintostatute itsown.Thisgovernment,unlikesome hassteppedbackfromtheParisAgree- politicalspectrum.AsManmohanSingh someform,beenkeptintheloopeven ratherthanleavingittoanindividual predecessors,hasneversoughttoinflate mentandUNFCCCdoesnotabsolvethe oncetoldme:“Financeministersareas Werethereseriousdifferenceswithin then.AsPrimeMinisterhegaveecon- governments’discretion— awaydebt—successiveRBIgovernors worldofitsresponsibilitytowardsthe strongorasweakasthePrimeMinister thefinanceministryoverthepace omicreformfreshimpetus,reconciling aframeworklaterextendedtostatesvia haveadheredtotheinflation-targeting nextgeneration.OnChinaspecifically: choosestomakethem”,andRaostaked ofliberalisation? hisownforward-lookinginstinctswith theTwelfthFinanceCommission,and framework.Iremainconfidentthe50per Wehavegenuinesecurityconcerns,but hisownpoliticalcapitalingivingSingh n Itwouldbeunnatural,inademocratic moreconservativeelementsinhisparty. oneIwouldlaterbeaskedtoreview centtargetisachievable. thatdoesnotmeanwehaltallbusiness. thatstrength. Cabinetsystem,ifthereweren’t.Shukla Hisclearestlegacyistelecomreform: andrecalibrate. Weneedtoberesponsibleandcase-by- Third,therewasthedeep-rooted andNayyarwerebothfiercenationalists TheNewTelecomPolicyof1999moved Fourth,disinvestmenttookinstitu- Thefinanceministry’slatestmonthly case,notcategorical,indealingwithChi- Indiandistrust,pre-datingIndepen- andintellectuallyhonest,butNayyarfelt thesectorfromanunsustainablefixed- tionalshape—adedicateddepartment economicreportspeaksofIndianeed- neseinvestment—thisgovernmenthas dence,ofprivateandespeciallyforeign theWorldBank’sstructuralconditions licence-feeregimetorevenue-sharing. in1999,lateraministry,withlandmark ingtoreinventitselfinlightofthedis- balancedthesegeopoliticaltensions capital—the“BombayClub”feared in [Showing first 8,000 characters — download PDF for full document]