Annual Report of the company for the Financial Year 2025-26 along with Notice of the 32nd Annual General Meeting.

August 17, 2026 BSE Limited P. J. Towers, Dalal Street, Fort, Mumbai - 400001 Scrip code: 530245 Sub.: Annual Report of the Company for the Financial Year 2025-26 along with Notice of the Thirty-Second Annual General Meeting. Dear Sir/ Madam, Pursuant to the provisions of Regulation 34(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended from time to time) please find enclosed herewith the copy of the Annual Report for the Financial Year 2025-26 along with Notice of the Thirty-Second Annual General Meeting (“AGM”) scheduled on Friday, September 11, 2026 at 11:30 A.M. (IST) to be held through Video Conference (VC) / Other Audio-Visual Means (OAVM). Further, the aforesaid Annual Report along with Notice of the AGM has also been uploaded on the website of the Company https://www.afsl.co.in/ Kindly take the same on record. Thanking you, Yours faithfully, FOR ARYAMAN FINANCIAL SERVICES LIMITED REENAL KHANDELWAL (Company Secretary and Compliance Officer) @ ARYAMAN FINANCIAL SERVICES LTD NEW HORIZONS. TRUSTED FOUNDATIONS. ROOTED IN TRUST. EXPANDING POSSIBILITIES. yi. INVESTMENT *\:: + AK ‘4. PORTFOLIO Sy BANKING +: .) 0) + PU! BROKING {4 “MANAGEMENT| yest Seabee Srey aerate eee oF es : ty ANNUAL REPORT 2025-26 @ apvaman FINANCIAL SERVICES LTD Aryaman Financial Services Limited 226 Annual Report { CIN: L74899DL1994PLC059009 in re e ; rre“ i n yi? ‘i in - T- j i - BOARD OF DIRECTORS: COMMITTEES: EXECUTIVE DIRECTORS: AUDIT COMMITTEE: Mr. Shripal Shah Mr. Prakash Lavi Vaghela (Chairman) @ Mr. Shreyas Shah (w.e.f. April 01%, 2024) @ Mr. Shripal Shah (Member) @ Mr. Damini Baid (Member) INDEPENDENT DIRECTORS: (w.e.f. April 019, 2024) @ Mr. Prasad Anant Muley # Mr. Prakash Lavi Vaghela STAKEHOLDERS RELATIONSHIP @ Ms. Damini Baid COMMITTEE: @ Mr. Prakash Lavi Vaghela (Chairman) NON-EXECUTIVE DIRECTOR: (w.e.f. April 01%, 2024) @ Mrs. Meloni Shah @ Mr. Shripal Shah (Member) # Mr. Damini Baid (Member) KEY MANAGERIAL PERSONNEL: (w.e.f. April 01%, 2024) @ Ms. Reenal Khandelwal + # Mr. Shripal Shah NOMINATION REMUNERATION @ Mr. Shreyas Shah COMMITTEE: Sg @ Mr. Prasad Anant Muley (Chairman) INFORMATION TECHNOLOGY (w.e.f. April 01*, 2024) COMMITTEE: @ Mr. Prakash Layi Vaghela (Member) @ Mr. Shripal Shah (Chairman) (w.e.f. April 01", 2024) (w.e.f. May 14, 2025) @ Mr. Damini Baid (Member) @ Mr. Adinath Bhuvaad (Member) (w.e.f. April 01", 2024) (w.e.f. May 14, 2025) @ Mr. Shreyas Shah (Member) (w.e.f. May 14, 2025) REGISTRAR AND SHARE TRANSFER AGENT: STATUTORY AUDITOR: Adroit Corporate Services Private Limited M/s V. N. Purohit & Co., 18-20, Ist floor, Chartered Accountants Plot No, 639, Makhwana Road, (Firm Registration No. 304040E) Marol, Andheri (East), 214, New Delhi House, 2nd Floor Mumbai-400 059 27, Barakhamba Road New Delhi- 110001 CORPORATE OFFICE: REGISTERED OFFICE: 60, Khatau Building, Ground. Floor, 102, Ganga Chambers, 6A/1, W-.E.A, Aleksh Dinesh Modi Marg, Karol Bagh, Fort, Mumbai — 400 001 New Delhi - 110 005 @ ARYAMAN FINANCIAL SERVICES LTD —-INDEX~ Sr. No. Particulars Page No 1 Corporate Overview 1 2 Chairmans Message to Share holders ee 7 : 14 3; Notice of the Thirty Second Annual General Meeting 17 - a ~ Board RReeppo rt a 33 5 independent Auditor's Report (Standalone) 87 6 Balance sheet as on March 31, 2026 (Standalone) 98 ¥: Statement of Profit and Loss for the Year Ended 31st March, 2026 (Standalone) 100 8 Statement of Cash Flows for the Year Ended 31st March, 2026 (Standalone) 102 9 Statement of Changes in Equity for the Year Ended 31st March, 2026 104 (Standalone) 10. Notes to Financial Statemfer nthte Year Ended 31stM arch, 2026 (Standalone) 105 11. Independent Auditor's Report (Consolidated) : 128° 7 42. Balance sheet as on March 31, 2026 (Consolidated) - 135 43. Statement of Profit and Loss for the Year Ended 31st March, 2026 (Consolidated) «»«»s-s'(s«s137—S™ 14. Statement of Cash Flows forthe Year Ended 31st March, 2026 (Consolidated) 139 15. Statement of Changesi n Equity for the Year Ended 31st March, 2026 141 (Consolidated) ri 143 16. Notes to Financial S§ tatement for the Year Ended 31st March,, 20266 (Consolidated) .) ARYAMAN m FINANCIAL SERVICES LTD A Little About Us — Corporate Overview — ddral Providing Financial Solutions with a Finite Balance of Innovation and Discipline 105 Our aspiration is simple yet powerful: IPO handled as Lead To be the most preferred financial solutions Merchant Banker provider in India, delivering personalized, a passionate, and efficient service while creating [st long-term stakeholder value. Merchant Banker to bring SME IPO in India Currently mandated for IPO transaction of over 25 + ipo for 4662 Cr Merchant Banker to bring Start Up IPO in India —SE ee Market capitalization of our listed clients (IPO) — 80,000 Cr. plus Awarded Top Performing Merchant Banker by BSE SME all of last 14 years timtb. os Leeei b. 7 r4 y. ws ae wip Total aggregate fund raised in last 5 years— 1873.85 Cr. ANNUAL REPORT 2025-26 Page | 1 @ apvaman FINANCIAL SERVICES LTD Aryaman Financial Services Limited 32° Annual Report COMPANY OVERVIEW AND VISION Aryaman Financial Services Limited (AFSL)i s a SEBI-registered Caisson I Merchant Banker with a distinguished track record of over a decadei n the merchant banking industry. The Company provides a comprehensive suite of financial advisory and capital market services, with expertise spanning capital markets, corporate finance, corporate restructuring, and strategic advisory. AFSL is engaged in the lead management and syndication of a wide range of capital-raising transactions, including Initial Public Offerings (IPOs), Follow-on Public Offers (FPOs), Rights Issues, Composite Issues, Qualified Institutions Placements (QIPs), preferential issues, and other forms of equity fundraising. The Company has built a strong reputation for delivering efficient execution, regulatory excellence, and customized financial solutions that cater to the evolving needs of its clients. Since its inception, AFSL has remained committed to providing end-to-end financial and capital market solutions to businesses across India, supporting enterprises through every stage of their growth journey. A pioneer in the SME and Start-up IPO ecosystem, AFSL was the first merchant banker in India to successfully launch SME and Start-up IPOs. Over the years, the Company has established itself as a market leader in this segment through its deep domain expertise, strong execution capabilities, and unwavering commitment to client success, AFSL has further steengiliencd its market presence throughi ts diversified group structure. Its wholly owned subsidiary, Aryaman Capital Markets Limited (ACML), delivers comprehensive capital market and stockbroking services, while Escorp Asset Management Limited (EAML) provides specialized portfolio and asset management solutions. The Group has also expanded into the non-banking financial services sector through Aryaman Finance (India) Limited (AFIL), an RBl-registered Base Layer Non-Banking Financial Company (NBFC). Together, these entities create an integrated financial services platform, enabling the Group to offer holistic solutions across the capital markets and financial services value chain while enhancing operational synergies, client reach, and long-term Brot potential. INVESTMENT NBFC STOCK PORTFOLIO | BANKING BROKING MANAGEMENT~ Aryaman — ca PyT vy|| | rye Leading Milestones, Creating Markets. : a i ANNUAL REPORT 2025-26 @ Pag|e 2 @ anvaman FINANCIAL SERVICES LTD Building Capital, Inspiring Progress 324 Annual Report + Financial Year 2025-26 was a landmark year for Aryaman Financial Services Limited (AFSL), marked by significant achievements, operational excellence, and steady progress towards our long- term vision of creating sustainable value for all stakeholders. + During the year, we strengthened our leadership in the merchant banking industry, expanded our financial services offerings, enhanced our mark [Showing first 8,000 characters — download PDF for full document]