Annual Report 2025-26 & AGM Notice

,1111 Oft Creating Highway to Success Date: 13.08.2026 The Secretary The Manager BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block "G" New Trading Wing, 5th floor, Bandra Kurla Complex, Dalal Street, Mumbai- 400001. Bandra East, Mumbai- 400051. Scrip Code: 533152 Symbol: MBLINFRA Sir, Annual Report for the F.Y. 2025-26 & Notice of the 31st Annual General Meeting ("AGM") Please find enclosed Annual Report of the Company for the F.Y. 2025-26 along with the Notice for 31st Annual General Meeting (AGM), scheduled on Saturday, 12th September, 2026 at 3:00 pm through Video Conferencing ("VC")/Other Audio-Visual Means ("OAVM") facility. The Annual Report for the F.Y. 2025-26 and AGM Notice are available on the website of the Company www.mblinfra.com. These documents are also being sent through electronic mode to those Members whose e-mail addresses are registered with the Registrar and Transfer Agent/Depositories. Further, a physical communication (enclosed herewith) is also being sent by the Company to all those members, whose email addresses are not updated in records, which contains the exact link of the Company's website to access the Annual Report and AGM Notice. Please treat this as compliance with Regulation 34 and 36 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Thanking you, Yours faithfully, For BL Infrastructure L aheshwari) Secretary Erie : a/a MBL Infrastructure Ltd. Registered & Corporate Office : Baani Corporate One, 308, 3rd Floor, Plot No. 5, Commercial Centre, Jasola, New Delhi-110 025 Tel. : +91-11-44792982,43401205 Email : delhi@mblinfra.com Website : www.mblinfra.com, CIN-L27109DL1995PLC338407 BBUUIILLDDIINNGG BBEEYYOONNDD HHIIGGHHWWAAYYSS MMBBLL IINNFFRRAASSTTRRUUCCTTUURREE LLIIMMIITTEEDD AANNNNUUAALL RREEPPOORRTT 22002255--2266 Contents 1 5 Principal messages of this Annual Report 2 Introduction 4 Corporate snapshot 6 Chairman's overview 8 India’s roads: The decade that changed everything 9 6 forces shaping our sector 10 The policy architecture making it happen 12 Our business segments 13 Our pan-region geographic presence and clients 14 Our existing projects 16 Our growth-focused business model 18 The MBL Infrastructure Story 21 ESG: Building trust, sustaining growth 26 People management at MBL 29 Board of Directors 30 Corporate information 31 Directors’ Report Principal messages of 37 Management Discussion and Analysis this Annual Report 68 Standalone financial statements 127 Consolidated financial statement Forward-looking statement Every turnaround India’s The Company will In this Annual Report we have disclosed forward-looking information matters only infrastructure measure success to enable investors to comprehend our prospects and take informed when it creates opportunity not by the projects investment decisions. This report and other statements - written and the confidence has never been it wins, but by the oral - that we periodically make contain forward-looking statements to grow. MBL larger, and MBL value, quality and that set out anticipated results based on the management’s plans has reached that is well prepared efficiency it delivers and assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipates’, ‘estimates’, ‘expects’, inflection point. to convert this through every ‘projects’, ‘intends’, ‘plans’, ‘believes’ and words of similar substance in opportunity into project it executes. connection with any discussion of future performance. sustainable growth. We cannot guarantee that these forward-looking statements will be realised, although we believe we have been prudent in our assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks Backed by three decades of The next phase of MBL’s journey or uncertainties materialise, or should underlying assumptions prove execution excellence, MBL will be driven by disciplined inaccurate, actual results could vary materially from those anticipated, possesses the experience, growth, business diversification estimated or projected. Readers should bear this in mind. We undertake capability and credibility to and sustainable value creation no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. capitalise on India’s accelerating for all stakeholders. investments in roads and other infrastructure opportunities. CORPORATE OVERVIEW MI°3n-1.—-- ---- STATUTORY REPORTS FINANCIAL STATEMENTS I N T R O D U C T I O N MBL. Competently positioned to capitalise on India’s infrastructure opportunity India's economic growth is expected to be driven by sustained investments in infrastructure, making the sector a key catalyst for long-term development. With its proven execution capabilities and infrastructure expertise, MBL is positioned to capitalise on diverse opportunities arising from this growth cycle. Reflecting confidence in the Company’s future, the promoters increased their shareholding to 74.01%, demonstrating their long-term commitment to the business. DID YOU KNOW? Going forward, MBL will pursue growth within a framework of responsible governance, transparency Every H1 invested in infrastructure creates a and financial discipline multiplier effect across the economy. Infrastructure spending stimulates demand across steel, cement, engineering, logistics, manufacturing and employment, making it one of India’s most powerful growth engines. CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS C O R P O R A T E S N A P S H O T MBL has entered Our background Executive Director, who contributes over Ministry of Road Transport and twenty years of practical expertise in civil Highways (MoRTH): The apex Established in 1995, MBL Infrastructure a new phase in engineering and project execution. government body overseeing policy, Limited (MBL) has evolved into a regulations, and legislation to enhance the diversified infrastructure development Our presence efficiency of the national road transport its existence. company with a strong foundation in The Company's corporate headquarters system and spearhead transport-related civil engineering and project execution. are situated in Delhi, complemented by research and development. The Company was listed on both the BSE and NSE in 2010, marking an important a regional office in Kolkata. Through its State Public Works Departments The Company possesses a foundation built milestone in its growth journey. Over extensive operational footprint, MBL has (PWDs): State-level agencies that are Our vision the years, MBL has developed extensive successfully delivered projects across responsible for the construction and around decades of infrastructure execution expertise across multiple infrastructure various regions of India, demonstrating maintenance of State Highways, including experience, sector expertise and project To be the foremost infrastructure company dedicated domains, including roads and highways, its capability to execute infrastructure those funded by international agencies management capabilities. to quality and on-time project execution, building buildings, housing, urban infrastructure, developments in diverse geographical and such as the World Bank and ADB and also customer satisfaction and enhancing stakeholder railways, metro and other infrastructure operating environments. responsible for construction of National The Company is expected to leverage this and value while maintaining our commitment towards a projects. Its longstanding experience in Highways on behalf of MoRTH. Our capabilities capitalise on the robust Indian infrastructure cleaner and greener world. road construction, encompassing EPC Delhi Metro Rail Corporation (DMRC): A execution, Build-Operate-Transfer (BOT) MBL has established a strong reputation story. joint venture between the G [Showing first 8,000 characters — download PDF for full document]