Please find attached herewith Annual Report of the Company for FY 2025-26 along with Notice of Annual General meeting.

NAPEROL INVESTMENTS LIMITED (formerly known as National Peroxide Limited) CIN : L66309MH1954PLC009254 Registered Office: Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai – 400 001 Telephone : 022-66620000 / E-mail : secretarial@naperol.com / website: www.naperolinvestments.com August 21, 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001. Scrip Code – 500298 Sub: Notice of 72nd Annual General Meeting (‘AGM’) along with Annual Report for the Financial Year 2025-26 Ref: Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015(‘Listing Regulations’) Dear Sir / Madam, Pursuant to Regulation 34 and other applicable provisions of the Listing Regulations, please find enclosed herewith the Notice of 72nd AGM along with Annual Report for the Financial Year 2025-26. The 72nd AGM of the Company is scheduled to be held Wednesday, September 16, 2026, at 2.00 p.m. (IST) through Video Conferencing (‘VC’) / Other Audio- Visual Means (‘OAVM’). In compliance with the relevant circulars issued by the Ministry of Corporate Affairs and Securities and Exchange Board of India, the Notice of 72nd AGM along with Annual Report for the Financial Year 2025-26 have been sent through electronic mode to all the Members whose e-mail addresses are registered with the Company / Depository Participant(s). The above information is also available on the website of the Company at www.naperolinvestments.com. This is for your information and record. Yours faithfully, For Naperol Investments Limited (formerly known as National Peroxide Limited) Deepak Kumar Chief Financial Officer Encl: as above. Contents CORPORATE OVERVIEW 02 Board of Directors 03 Corporate Information STATUTORY REPORTS 04 Management's Discussion and Analysis 10 Directors’ Report and its Annexures FINANCIAL STATEMENTS 42 Independent Auditor’s Report 52 Balance Sheet 53 Statement of Profit and Loss 54 Statement of Cash Flows 56 Statement of Changes in Equity 57 Notes 94 NOTICE Scaling Growth. Strengthening Value. Our strategic priorities are guided by a balanced approach towards growth, resilience, and value creation. As we navigate an evolving business and economic landscape, we remain focused on scaling our growth through disciplined execution, prudent capital allocation, and the ability to identify and capitalise on emerging opportunities. At the same time, we continue to strengthen value by maintaining robust governance standards, managing risks effectively, and driving financial discipline. This approach enables us to build a stronger, more resilient organisation while delivering sustainable value to our shareholders and other stakeholders. Board of Directors MR. NESS N. WADIA DR. (MRS.) MINNIE BODHANWALA Chairman Non-Executive & Non-Independent/ Non-Executive & Non-Independent Director Promoter Director MR. VIRAF MEHTA MS. PARVATHI MENON Non-Executive & Independent Director Non-Executive & Independent Director MR. RAJIV ARORA MR. KEKI MANCHERSHA ELAVIA Non - Executive & Non - Independent Director Non-Executive & Independent Director 02 NAPEROL INVESTMENTS LIMITED C O R P O R AT E O V E R V I E W Corporate Information 11 11 11 11 11 11 11 11 KEY MANAGERIAL PERSONNEL REGISTERED OFFICE & HEAD OFFICE Neville House, J.N. Heredia Marg, MR. CHIRAG KOTHARI Ballard Estate, Mumbai – 400001 Manager (upto May 31, 2026) Phone: 022- 66620000 MR. DEEPAK KUMAR REGISTRAR & SHARE TRANSFER Chief Financial Officer AGENT MR. AKSHAY SATASIYA MUFG Intime India Private Limited Company Secretary & Compliance Officer Unit: Naperol Investments Limited. (upto March 08, 2026) C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai - 400083 MS. JUI MASURKAR Company Secretary & Compliance Officer Phone: +91 8108118484 (w.e.f. April 30, 2026) E-mail ID: investor.hepldesk@in.mpms.mufg.com BANKER Canara Bank Bank of Baroda SOLICITORS AND ADVOCATES M/s. Khaitan & Co. M/s. Crawford Bayley & Co. STATUTORY AUDITORS M/s. Kalyaniwalla & Mistry LLP INTERNAL AUDITORS M/s. PKF Sridhar and Santhanam LLP SECRETARIAL AUDITORS M/s. Parikh & Associates ANNUAL REPORT 2025-26 03 Management Discussion and Analysis 1. Economic Review Global The global economy remained resilient during the year despite ongoing geopolitical tensions, supply chain challenges, and evolving trade dynamics. Recent developments in the Middle East have heightened uncertainty, impacting trade routes and contributing to volatility in energy and commodity prices, thereby increasing inflationary pressures across several economies. Global trade and investment flows continue to adapt to shifting supply chains, changing trade policies, and growing geoeconomic fragmentation. While domestic demand and policy support have sustained growth in many regions, economic conditions remain uneven amid elevated uncertainty. Inflation is expected to face near-term pressure from higher energy and food prices before gradually moderating over the medium term. GDP Growth Rate 2026 2027 2025 (Projections) (Projections) World 3.4% 3.1% 3.2% Advanced Economies 1.9% 1.8% 1.7% United States 2.1% 2.3% 2.1% Euro Area 1.4% 1.1% 1.2% Emerging Markets and Developing Economies 4.4% 3.9% 4.2% Emerging and Developing Asia 5.5% 4.9% 4.8% China 5.0% 4.4% 4.0% India 7.6% 6.5% 6.5% (Source: World Economic Outlook by IMF, April 2026) Outlook robust domestic demand, sustained government infrastructure spending, and a gradual recovery The global outlook remains cautious amid ongoing in private sector investment despite a challenging geopolitical tensions, supply chain disruptions, and global environment. volatility in energy and commodity markets. Global growth is projected to remain stable at around 3.1% Infrastructure development remained a key growth in 2026 and 3.2% in 2027, supported by resilient driver, while steady urban consumption and improving domestic demand and continued policy support rural demand supported overall economic activity. across major economies. The services sector continued to lead growth, aided by digitalisation and strong performance in IT and However, emerging and developing economies may business services, while manufacturing and agriculture continue to face challenges arising from inflationary provided stable support to the economy. pressures, external uncertainties, and climate-related disruptions affecting trade and commodity supply Inflation remained within the Reserve Bank of India’s chains. Despite these headwinds, the medium-term target range, supported by moderating food prices outlook remains supported by gradual economic and stable core inflation. The banking sector remained stabilisation and improving global demand conditions. healthy, characterised by strong credit growth, improved asset quality, and adequate capitalisation. India Despite global trade uncertainties and evolving tariff India continued to demonstrate strong economic regimes, India’s external sector remained resilient, resilience in FY 2025-26, maintaining its position supported by strong services exports. among the world’s fastest-growing major economies, with GDP growth at 7.7%. Growth was supported by 04 NAPEROL INVESTMENTS LIMITED S TAT U T O R Y R E P O R T S Indian Economy GDP Growth Rate (in %) India Year FY FY FY FY FY India remains a structurally attractive investment 2021-22 2022-23 2023-24 2024-25 2025-26 destination, supported by favourable demographics, GDP 8.7 7.0 8.2 6.5 7.7 rising consumer demand, and a policy framework Growth Rate focused on manufacturing, digitalisation, and infrastructure development. India is projected to Outlook become the world’s second-largest consumer market, with consumer spending expected to reach USD 4.3 Looking ahead, India’s growth outlook remains positive, trillion by 2030, nearly doubling from 2024 levels. underpinned by sustained infrastructure investments, favourable demographics, and a stable policy The country’s attractiveness is further reinforced by environment, notwithstanding potential challenges ongoi [Showing first 8,000 characters — download PDF for full document]