Annual Report for the Financial Year 2025-26.

FLOOR-1,PLOT-18,VAKIL BUILDING, S S RAM GULAM MARG, NEW CUSTOM HOUSE,BALLARD ESTATE., M.P.T., Mumbai 400001 Tel No. +91 22 4058 7300 . Email. invgrv@swan.co.in. website. https://www.veritasindia.net/ CIN. L23209MH1985PLC035702 Ref. No.: VERITAS/BSE/2026-27/019 August 12, 2026 Corporate Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001. Scrip Code: 512229. Sub.: Submission of 41st Annual Report for the F.Y. 2025-26. Dear Sir/Madam, This is further reference to our Announcement dated May 28, 2026, wherein we have mentioned about Annual General Meeting (‘AGM’) of the Company will be held on September 03, 2026, at 11:30 AM (IST). The AGM is being held via two-way Video Conferencing / Other Audio-Visual Means (VC / OAVM). This is in compliance with the General Circulars issued by the Ministry of Corporate Affairs dated April 08, 2020, April 13, 2020, May 05, 2020, May 05, 2022, and subsequent circulars issued in this regard, the latest being circular dated September 22, 2025 (collectively referred to as ‘MCA Circulars’). Please find enclosed herewith the 41st Annual Report of the Company for the F.Y. 2025-26 along with Notice. In compliance with the MCA Circulars read with Regulations 36 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), the Annual Report including the Notice of AGM is being sent ONLY through electronic mode, to those Members whose e-mail addresses are registered with the Company / Registrar and Transfer Agent / Depository Participant / Depositories. The Company will be sending physical letters, providing the web-link, including the exact path where complete details of the Annual Report including the Notice of AGM is available, to those shareholder(s) who have not registered their e- mail address with the Company / Registrar and Transfer Agent / Depositories / Depository Participants. The Notice forming part of the Annual Report is also available on the Company’s website at https://www.veritasindia.net/admin/reportpdf/Annual%20Report%202025-26.pdf and the website of National Securities Depository Limited at www.evoting.nsdl.com FLOOR-1,PLOT-18,VAKIL BUILDING, S S RAM GULAM MARG, NEW CUSTOM HOUSE,BALLARD ESTATE., M.P.T., Mumbai 400001 Tel No. +91 22 4058 7300 . Email. invgrv@swan.co.in. website. https://www.veritasindia.net/ CIN. L23209MH1985PLC035702 This disclosure is being submitted pursuant to Regulations 34, 30, and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This is for your information and record. Thanking You, For Veritas (India) Limited Amit A. Chavan Company Secretary & Compliance Officer Encl.: As above. VERITAS (INDIA) LIMITED 41ST ANNUAL REPORT For the year ended 31.03.2026 From the Desk of the Managing Director Dear Shareholders, FY 2025-26 was marked by an evolving global energy landscape, characterised by geopolitical uncertainties, shifting trade flows, and continued volatility in crude oil and petroleum product prices. Despite these challenges, India remained one of the fastest-growing major economies, supported by resilient domestic demand, sustained infrastructure investment, manufacturing growth, and policy-led reforms. The country's expanding industrial base and rising energy demand continue to provide long-term opportunities for the petroleum trading sector. At Veritas (India) Limited, our focus remained on strengthening business resilience through disciplined execution, prudent capital allocation, and effective risk management. In response to changing market dynamics and restrictions in moving cargo through the strait, your Company adopted a more flexible, demand-driven, and order-backed trading model in the UAE. By rationalising inventory levels, optimising working capital, and reducing inventory price risk, we enhanced operational agility while preserving capital in a challenging trading environment. A key strategic initiative during the year was the comprehensive review of our overseas asset portfolio. The UAE's decision to develop ports on its east coast, outside the Strait of Hormuz, has altered the long-term commercial outlook for assets located within the Strait. Following a comprehensive assessment, your Company obtained shareholder approval for the proposed sale and transfer of certain assets and liabilities of Verasco FZE, UAE in Jan-26. This strategic initiative reflects our commitment to disciplined capital allocation, prudent risk management, and long-term business resilience. Looking ahead to FY 2026-27, we will continue to strengthen our trading platform, optimise supply chain efficiencies, maintain disciplined capital allocation, and remain agile in responding to evolving regional and global market conditions. We are confident that our disciplined approach, combined with our continued focus on operational excellence, will support sustainable long-term value creation. On behalf of the Board, I express my sincere gratitude to our shareholders for their continued trust and confidence. I also thank our employees, customers, business partners, and all our stakeholders for their unwavering support and commitment. Together, we look forward to building on our strengths and creating sustainable long-term value in the years ahead. Warm regards, Paresh V. Merchant Managing Director Veritas (India) Limited BOARD OF DIRECTORS KEY MANAGERIAL PERSONNEL In terms of the Companies Act, 2013 CHAIRMAN MR. NARENDRA VALA MR. PARESH V. MERCHANT Chief Financial Officer (w.e.f. February 05, 2026) (DIN: 00660027) MR. RAKESH BHARUCHA Managing Director Chief Financial Officer (w.e.f. August 13, 2025, upto November 17, 2025) MR. RAJARAM SHANBHAG DIRECTORS Chief Financial Officer (upto May 31, 2025) MR. ARUN S. AGARWAL MR. AMIT A. CHAVAN (DIN: 02044613) Company Secretary (w.e.f. November 13, 2025) Executive Director MR. ARUN S. AGARWAL Company Secretary MR. SUNIL SEHGAL (upto November 13, 2025) (DIN: 02561520) AUDITORS Non-Executive Non-Independent Director STATUTORY AUDITORS (w.e.f. November 13, 2025) M/s. Shabbir & Rita Associates LLP, Mumbai SECRETARIAL AUDITOR M/s. SKJP & Associates, Mumbai MR. ROHINTON SHROFF (DIN: 00234712) 41st Annual General Meeting Independent Director ON THURSDAY, SEPTEMBER 03, 2026, AT 11:30 A.M. THROUGH VIDEO CONFERENCING / OTHER AUDIO- VISUAL MEANS MRS. BHAGYASHRI DIXIT DEEMED VENUE: (DIN: 10952866) Floor-1, Plot-18, Vakil Building, S. S. Ram Gulam Marg, New Custom House, Ballard Estate, M.P.T., Independent Director Mumbai 400001 (w.e.f. August 13, 2025) CONTENTS MR. JAYARAMAKRISHNAN KANNAN Notice……………………………………………….…..………….......04 (DIN: 06551104) Financial Statement Independent Director (w.e.f. February 05, 2026) Consolidated……………………………………....…………….....185 REGISTERED OFFICE: FLOOR-1, PLOT-18, VAKIL BUILDING, S. S. RAM GULAM MARG, NEW CUSTOM HOUSE, BALLARD ESTATE, M.P.T., MUMBAI 400001 | Tel. No.: 022- 4058 7300 | E-mail ID: invgrv@swan.co.in Website: www.veritasindia.net | CIN: L23209MH1985PLC035702 REGISTRARS & SHARE TRANSFER AGENTS MUFG Intime India Private Limited C-101, Embassy 247, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083 T: +91 22 4918 6000 E-mail ID: investor.helpdesk@in.mpms.mufg.com | Website: www.in.mpms.mufg.com Name(s) of any Director or Key Managerial Personnel specified anywhere in this Report shall be read along with the Director Identification Number (DIN) stated against his name as the case may be and the Registered Office Address shall be construed as their address for all practical purposes. Name(s) Mr. Deepak Mane, Mr. Virat Dantwala and Mr. Vijay Shah wherever appearing in this Report shall be read along with his DIN: 02368492, DIN: 10750573 and DIN: 03502649 respectively. VERITAS (INDIA) LIMITED NOTICE NOTICE is hereby given that the Forty-First Annual General Meeting (“AGM”) of the Members of VERITAS (INDIA) LIMITED will be held on Thursday, Sept [Showing first 8,000 characters — download PDF for full document]