Shareholders meeting

18th August, 2026 Listing Department, National Stock Exchange of India Limited Exchange Plaza, C-1 Block-G Bandra Kundra Complex, Bandra (E), Mumbai – 400051 SYMBOL: HECPROJECT Dear Sir; Sub: Submission of Notice of 21st Annual General Meeting and Annual Report 2025-26 Pursuant to Regulation 30 and 34(1) (a) of SEBI (LODR) Regulations, 2015, we are enclosing herewith: - Notice of 21st Annual General Meeting of the members of the Company along with Annual Report for FY 2025-26. Kindly acknowledge receipt of the same. Thanking you, Yours faithfully, For HEC INFRA PROJECTS LIMITED KHUSHI BHATT COMPANY SECRETARY M.NO: A51011 Encl: As above. INDEX DESCRIPTION PAGE LETTER FROM MANAGING DIRECTOR 3 COMPANY INFORMATION 4 NOTICE TO THE MEMBER 5-19 DIRECTOR’S REPORT 20-35 ANNEXURES TO DIRECTORS REPORT 36-47 REPORT ON CORPORATE GOVERNANCE 48-67 DECLARATION FROM MD REGARDING COMPLIANCE OF CODE 68 OF CONDUCT CEO/CFO REPORT 69 CERTIFICATE ON CORPORATE GOVERNANCE 70 MANAGEMENT DISCUSSION & ANALYSIS REPORT 71-77 INDEPENDENT AUDITORS REPORT 78-90 BALANCE SHEET 91 STATEMENT OF PROFIT & LOSS ACCOUNT 92 STATEMENT OF CASH FLOW STATEMENT 94-95 NOTES FORMING PART OF FINANCIAL STATEMENT 96-136 LETTER FROM MANAGING DIRECTOR Dear Shareholders, Dear Shareholders, The financial year 2025-26 has been another year of strong growth and resilience for HEC Infra Projects Limited. Despite dynamic market conditions, the Company contin- ued to demonstrate excellence in project execution, operational efficiency, and customer satisfaction. Our focus has enabled us to capitalize on India's growing energy requirements and in- frastructure expansion initiatives. Through disciplined execution, we achieved signifi- cant growth in revenue and profitability. We remain committed to sustainable growth, technological advancement, and creating long-term value for all stakeholders. “I take this opportunity to thank the management team and all the employees for com- ing together to deliver the improved performance throughout the year. I would also like to take this opportunity to express my gratitude to our shareholders, banker and all the stakeholders who have continued to support us during the transition phase.” Thank you for the confidence, you continue to repose in our Company. I look forward to the same in the years ahead. Best Wishes Gaurang Parmanand Shah Managing Director COMPANY INFORMATION HEC INFRA PROJECTS LIMITED BANKERS: (CIN: L45200GJ2005PLC046870) Bank of India ISIN: INE558R01013 LISTED IN STOCK EXCHANGE National Stock Exchange (NSE) BOARD OF DIRECTORS REGISTERED OFFICE Mr. Gaurang Shah Managing Director Sigma-1 Corporates, Corporate Mrs. Rupal Shah Executive Director House No. 6, Nr. Mann Party Mr. Rahul Shah Executive Director Plot Cross Road, Sindhu Bhavan Road, Mr. Yash Mehta Independent Director Bodakdev, Ahmedabad- 380054 Mr.Ronak Mehta Independent Director Email Id: cs@hecproject.com Ms.Rajkumari Udhwani Independent Director Website: www.hecprojects.in Tel: +91-79-4008 6771-74 REGISTRAR AND TRANSFER AGENT CHIEF FINANCIAL OFFICER Cameo Corporate Services Limited Mr. Arvindkumar Patel Subramanian Building No.1, Club House Road, Chennai-600002, Tamil COMPANY SECRETARY Nadu Ms. Khushi Bhatt Tel: +91-44-28460390 Fax: +91-44-28460129 E-mail: cameo@cameoindia.com STATUTORY AUDITOR M/s KDN & Associates LLP Chartered Accountants INTERNAL AUDITOR Shah Shah and Co. Chartered Accountants SECRETARIAL AUDITOR M/s Kashyap R. Mehta & Partners Practicing Company Secretary COST AUDITOR M/s. P. H. Desai & Co NOTICE TO THE MEMBERS Notice is hereby given that the 21st Annual General Meeting of the Members/ Share- holders of HEC Infra Projects Limited will be held on Friday, September 18, 2026 at 12:00 p.m. (IST) through Video conferencing/ other Audio-Visual means (VC/OAVM) to transact the following business. The venue of the meeting shall be deemed to be the registered office of the Company Sigma-1 Corporates, Corporate House No. 6, Nr. Mann Party Plot Cross Road, Sindhu Bhavan Road, Bodakdev, Ahmedabad – 380 054: ORDINARY BUSINESSES: 1. To receive, consider and adopt the Audited Financial Statement for the financial year ended on March 31, 2026 together with the Reports of the Board of Directors and the Auditors thereon. 2. To appoint a Director in place of Mr. Rahul Gaurang Shah (DIN: 06862697), who re- tires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eli- gible, offers himself for reappointment. SPECIAL BUSINESSES: 3. To consider and if thought fit, to Pass, with or without modification(s), the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Section 204 and other applicable pro- visions, if any, of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regula- tion 24A of the Securities and Exchange Board of India (Listing Obligations and Dis- closure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), other applica- ble laws/statutory provisions, if any, as amended from time to time (including any statutory modification(s) or amendment(s) thereto or re-enactment(s) thereof for the time being in force), and in accordance with the recommendation of Audit Committee and the Board of Directors of the Company, M/s. Kashyap R. Mehta & Partners, Practicing Company Secretaries, (FRN: P2025GJ106000 and Peer Reviewed Certifi- cate No. 6827/2025), Ahmedabad be and are hereby appointed as Secretarial Audi- tors of the Company for a term of five (5) consecutive years to conduct the Secretarial Audit of five consecutive financial years commencing from financial year 2026-27 to 2030-31, at such fees, plus applicable taxes and other out-of-pocket expenses as may be approved by the Audit Committee and as may be mutually agreed upon between the Board of Directors of the Company and the Secretarial Auditors.” “RESOLVED FURTHER THAT approval of the members/shareholders be and is hereby accorded to the Board of Directors (hereinafter referred to as the ‘Board’ which ex- pression shall include any Committee thereof or person(s) authorized by the Board) to avail or obtain from the Secretarial Auditor, such other services or certificates, re- ports, or opinions which the Secretarial Auditors may be eligible to provide or issue under the applicable laws, at a remuneration to be determined by the Audit commit- tee/Board of Directors of the Company.” “RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorized to take all actions and do all such deeds, matters and things, as may be necessary, proper or desirable and to settle any question, difficulty or doubt that may arise in this regard.” 4. To consider and, if thought fit, to pass with or without modification(s), the following Resolu- tion as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Section 148 and other applicable provisions of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014 (including any statutory modification(s) or re-enactment(s) thereof, for the time being in force), M/s. P.H. Desai & Co., Cost Accountants, Ahmedabad (Firm Registration No. 100377) appointed as Cost Auditors by the Board of Directors of the Company to conduct the audit of the cost records of the Company for the Financial Year 2026-27, be paid a remuneration of Rs. 20,000/- (Rupees Twenty Thousand) plus taxes as applicable and reimbursement of out of pocket expenses incurred by them in connection with the aforesaid audit.” “RESOLVED FURTHER THAT any of the Director of the Company be and is hereby authorized to do all acts and take all such steps as may be necessary to give effect to this resolution.” 5. To consider and, if thought fit, to pass with or without modification, the following Resolution as a Special Resolution: “RESOLVED THAT the consent of the Company be and is hereby accorded under Section 179 and Section 180(1)(a) and other applic [Showing first 8,000 characters — download PDF for full document]