Annual Report for financial year 2025-2026.

17th August, 2026 BSE Limited Corporate Relationship Department P.J. Towers, Dalal Street, Fort, Mumbai – 400001. Scrip Code: 514183 ISIN: INE761G01016 Dear Sir/Madam, Sub: Annual Report of the Black Rose Industries Limited (“the Company”) for the financial year 2025-26. Pursuant to Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith 36th Annual Report of the Company along with the Notice of the Annual General Meeting and other Statutory Reports for the financial year 2025-26. The Annual Report for the financial year 2025-26 is also available on the website of the Company at www.blackrosechemicals.com. Kindly take the Annual Report on your records and upload the same on your website. Thanking You. Yours Faithfully, For Black Rose Industries Limited, Darshana Sawant Company Secretary & Compliance Officer Encl: as above Black Rose Industries Ltd. 145/A, Mittal Tower, Nariman Point, Mumbai - 400 021, INDIA Tel.: +91 22 4333 7200 / 2282 4075 l Fax: +91 22 2287 3022 E-mail: investor@blackrosechemicals.com l Website: www.blackrosechemicals.com CIN No.: L17120MH1990PLC054828 Factory : Shree Laxmi Co-op. Industrial Estate Ltd., Hatkanangle, Dist. Kolhapur, Maharashtra, INDIA BLACK ROSE INDUSTRIES LIMITED ANNUAL REPORT 2025-26 ANNUAL REPORT 2025-26 Black Rose Industries Limited CIN: L17120MH1990PLC054828 145/A, Mittal Tower, Nariman Point Mumbai – 400 021 Tel: +91 22 4333 7200 | Fax: +91 22 2287 3022 Email: investor@blackrosechemicals.com Website: www.blackrosechemicals.com Across the Pages Deepening Chemistry Broadening Corporate Overview 02-15 About the Company 02 Horizons Strengths and Strategies 04 Letter from the Chairman 06 Letter from the Directors 08 At Black Rose, we believe sustainable value creation is built Key Performance Indicators 10 on strong capabilities, trusted customer relationships, ESG Commitment 12 operational excellence, and continuous innovation. During 2025-26, we strengthened these foundations by expanding our manufacturing and research capabilities, Statutory Reports 16-64 widening our customer reach, enhancing efficiencies, and Notice 16 reinforcing our position across the chemical value chain. Directors’ Report 28 Deepening Chemistry reflects our commitment to advancing our core chemical platform Management Discussion and through innovation, process excellence, and product development. The progress of our Analysis polyacrylamide (PAM) project into the piloting stage, together with the development of Report on Corporate new downstream products based on acrylamide chemistry, demonstrates our focus on 49 creating greater value through technology, application ability, and differentiated solutions. Governance Broadening Horizons represents our efforts to expand across customers, markets, geographies, applications, and industries. During the year, we strengthened our international presence through new customer additions, growing export engagement, Financial Statements 65-178 and deeper market penetration. We also continued to explore new applications and end-use segments, creating multiple growth drivers while reducing dependence on any Standalone 65 single market or industry. Consolidated 127 Looking ahead, we remain focused on opportunities that build on our established chemical expertise. The evaluation of specialty chemical initiatives and the continued development of downstream products reflect our strategy of leveraging existing strengths while pursuing adjacent growth opportunities with strong long-term potential. Deepening Chemistry Broadening Horizons captures our journey of building greater depth in our core chemistries while expanding the opportunities they create. It reflects our commitment to innovation, market expansion, product diversification, and sustainable value creation as we continue to evolve into a stronger, broader, and future-ready specialty chemicals company. Investor Information CIN L17120MH1990PLC054828 For more investor related BSE Code 514183 information please visit: Bloomberg Code BROS:IN https://www.blackrosechemicals. Market Cap (as on 31st March, 2026) ` 324.72 crores com/investor , or scan the QR code below AGM Date 9th September, 2026 Video Conferencing/Other Audio AGM Mode Visual Means (‘VC/OAVM’) 2025-26 Highlights (on consolidated basis) Revenue 323.01 ₹ crores 4.3% YoY Disclaimer: This document contains statements about expected future events and financials of Black Rose Industries Limited (‘The Company’) which EBITDA EBITDA Margin are ‘forward-looking.’ By their nature, forward- looking statements require the Company to make 35.44 10.97 assumptions and are subject to inherent risks and ₹ crores % uncertainties. There is a significant risk that the assumptions, predictions, and other forward- looking statements may not prove to be accurate. 9.1% YoY Readers are cautioned not to place undue reliance on forward-looking statements as several factors could cause assumptions, actual future results and events to differ materially from those PAT PAT Margin expressed in the forward-looking statements. Accordingly, this document is subject to the 22.42 6.94 disclaimer and qualified in its entirety by the ₹ crores % assumptions, qualifications and risk factors referred to in the Management Discussion and Analysis section of this Annual Report. 7.1% YoY About the Company Expanding Capacity Enhancing Capability Black Rose Industries A defining milestone in our evolution research and development, and Limited has steadily evolved was the commissioning of South Asia’s downstream product development. first liquid acrylamide plant in technical into a specialty chemicals Today, we are leveraging this strong collaboration with Mitsui Chemicals, foundation to deepen our presence company with a unique Inc., Japan. This marked our entry into across the acrylamide value chain while blend of manufacturing, specialty chemical manufacturing and exploring new applications, products, distribution, and application laid the foundation for developing and specialty chemical opportunities. deep expertise in acrylamide chemistry. development capabilities. By combining technical innovation with Over the years, we have expanded our Built on decades of trusted market expansion, we continue to capabilities through investments in strengthen our competitive position relationships, technical technology, process excellence, and create long-term value for expertise, and a customers, partners, and shareholders. commitment to customer- centric growth, we have created a resilient platform that enables us to serve diverse industries while VISION adapting to changing market opportunities. Our To be a leader in our chosen products and markets by delivering journey began with a focus high-quality products, reliable solutions, and exceptional customer service. We strive to grow responsibly and profitably through the on value-added chemical innovative application of our knowledge, infrastructure, and distribution, allowing us to relationships, while pursuing excellence, continuous improvement, establish long-standing and long-term value creation for all stakeholders. partnerships with leading global manufacturers and build a broad customer base across India and international markets. These relationships, nurtured CREDIT RATING through reliability, transparency, and consistent Our disciplined financial management and strong cash flow performance, continue to be generation continue to support a robust credit profile, with our ratings a cornerstone of our reaffirmed at CRISIL BBB+/Stable for long-term facilities and CRISIL A2 for short-term facilities. business and a key driver of Supported by healthy cash flows, a strong balance sheet, and prudent sustainable growth. capital allocation, we remain well positioned to fund growth initiatives while maintaining financial flexibility and resilience. 2 | Annual Report 2025-26 Business Segments [Showing first 8,000 characters — download PDF for full document]