Shareholders meeting

HIGHWAY INFRASTRUCTURE LIMITED CIN: L42909MP2006PLC018398 REG. OFFICE ADDRESS: 57-FA, SCHEME NO. 94, PIPLIYAHANA JUNCTION, RING ROAD, INDORE, (M.P.) – 452016, INDIA Tel: +91-731-2590013, 4047177 E-Mail: hiplindore@gmail.com, Visit us at: www.highwayinfrastructure.in 24th August, 2026 To, To, The Secretary, The Secretary, Corporate Relationship Department, Listing Department, BSE Limited National Stock Exchange of India Ltd. P. J. Towers, Dalal Street Exchange Plaza, BKC, Bandra (E) M umbai- MH 400001. M umbai - MH 400051. Scrip Symbol: HILINFRA | Scrip Code: 544477 | ISIN: INE00RL01028 Subject: Notice of 21st Annual General Meeting and Annual Report for the Financial Year 2025-26 of Highway Infrastructure Limited Dear Sir/Madam, Further to our intimations dated 20th August, 2026 and 22nd August, 2026 we wish to inform you that pursuant to Regulations 30, 34 read with Para A of Part A of Schedule III to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), the 21st Annual General Meeting (“AGM”) of Highway Infrastructure Limited (“the Company”) is scheduled to be held on Thursday, 24th September, 2026, at 03:00 P.M. (IST) through Video Conferencing / Other Audio Visual Means. Please find enclosed herewith the 21st Annual Report of the Company along with the AGM Notice for the Financial Year 2025-26, which is being sent via email to the Members whose email ids are registered with the Company / Registrar and Transfer Agent / Depository Participants. The Annual Report for the Financial Year 2025-26 along with the Notice of the AGM is also made available on the website of the Company at www.highwayinfrastructure.in/investor-information. Further, pursuant to Regulation 36(1)(b) of SEBI Listing Regulations, the Company will send a letter providing the weblink for accessing the Annual Report for the Financial Year 2025-26 including the Notice of the 21st AGM, will be sent to those Members who have not registered their email address(es). You are requested to take above information record. Thanking You, For Highway Infrastructure Limited Palak Rathore Company Secretary & Compliance Officer Membership No. – A-73755 Encl: As above. HIGHWAY INFRASTRUCTURE LIMITED A LANDMARK YEAR Annual Report 2025-26 HIGHWAY INFRASTRUCTURE LIMITED ANNUAL REPORT 2025-26 FROM Highway Infrastructure Limited FOUNDATION (HIL) is a diversied infrastructure company headquartered in Indore, TO FUTURE Madhya Pradesh, with operations across 11 states and 1 Union Territory. Listed on the BSE and NSE Thirty years of in August 2025 (Scrip Code: 544477 | S y m b o l : H I L I N F R A ) , execution. One HIL operates across three complementary business verticals: landmark listing. EPC Infrastructure, Tollway Collection, and Real Estate. Starting The next phase as a partnership rm in 1995, the of growth. Company has evolved into a listed infrastructure platform with a consolidated order book of `1,133 crore as of March 2026 From Foundation to Future BSE: 544477 NSE: HILINFRA ISIN: INE00RL01028 CIN: L42909MP2006PLC018398 S U C C E S S F U L L I S T I N G S T R O N G E R F O U N D AT I O N F U T U R E G R O W T H INDEX 06 07 08 09 Message From Message from Message About Highway The Managing the Whole Time from the Chief Infrastructure Director Director & Chief Executive Officer Limited Financial Officer 10 12 16 17 Corporate Business Model Business Footprint Our Journey Snapshot 18 19 20 22 Business Financial Our ESG & Overview Performance Growth Sustainability FY 25 - 26 Strategy 23 25 26 27 Awards, Outlook Board of Corporate Recognitions & Directors Information IPO Launch 29 42 72 97 Management Board Report on Standalone Discussion Report Corporate Financials and Analysis Governance 169 237 Consolidated Notice Financials of AGM Leadership Speaks Message From The Managing Director Mr. Arun Kumar Jain, Managing Director Dear Shareholders, governance processes, reporting systems, and investor It is a privilege to present this Annual Report for FY26, our rst communication. Equally important, we strengthened Board as a listed company. Listing is more than a corporate oversight and institutional readiness so that HIL milestone; it reects the standards of transparency, could operate with the standards expected of a listed accountability, and execution discipline that we have steadily company from day one. built over the last three decades. Capital Discipline When we started in 1995, India’s infrastructure opportunity A core principle of our strategy is disciplined capital was still at an early stage. We began as a construction allocation. We remain focused on deploying capital into business in Indore with a straightforward objective to deliver opportunities where we can leverage our execution quality infrastructure reliably and with integrity. That strengths, maintain healthy project economics, and generate principle continues to guide the Company today as we scale attractive long-term returns. across new geographies and business lines. Our balance sheet also improved materially during the FY26: A Dening Year year. Debt to equity reduced from 0.9x in FY23 to 0.45x in FY26 was a landmark year for HIL. On a consolidated basis, FY26, while net worth increased from `74.8 crore to `228.5 total income increased 25.6% year-on-year to ₹633.4 crore, crore over the same period. EBITDA rose 28.4% to `51.5 crore, and Prot After Tax I thank our shareholders for their trust, our customers and increased 42.0% to `31.8 crore. Our order book closed at partners for their condence, our employees for their `1,133 crore, crossing the `1,000 crore mark for the rst time commitment, and our Board for its guidance. The Company and strengthening revenue visibility for the years ahead. enters its next phase with a stronger foundation and a clear sense of purpose. The Listing Journey The decision to access public markets was made carefully. In advance of the listing, the Company invested in stronger Arun Kumar Jain Managing Director Highway Infrastructure Limited Dear Shareholders, and balance contract value of `526.1 FY26 was dened by execution crore as of March 2026. The Kaza Fee discipline. In infrastructure, outcomes Plaza contract in Andhra Pradesh, depend on project-level control site valued at `328.8 crore, was the largest management, supply chain efficiency, contract in this segment during the revenue monitoring, and nancial year. . oversight. Our focus during the year A key differentiator is our proprietary was to strengthen each of these levers toll management platform, while scaling the business responsibly. developed in-house for real-time Operational Performance revenue monitoring, discrepancy detection, leakage control, and In EPC Infrastructure, our teams site level management. This gives us managed 25 active projects across stronger operational control, the ability affordable housing, roads, industrial to customize workows, and a more areas, IT parks, schools, and allied civil Whole Time Director & efficient cost structure. works, primarily in Madhya Pradesh CFO’s Message with expanding activity in Uttar Balance Sheet and Working Capital Pradesh, Gujarat, and Chhattisgarh. EPC Debt to equity improved from 0.6x in Mr. Anoop Agarwal, balance work-in-hand stood at `591.3 FY25 to 0.45x in FY26, while net worth crore as of March 2026. increased from `117.7 crore to `228.5 Whole Time Director & CFO Our bidding approach remains crore. ROCE stood at 15.4% and ROE at selective. We generally do not bid 18.4%. Working capital remains an below a gross prot threshold of 13- active management priority. 14%. In our view, protecting project Outlook for FY27 economics is more important than For FY27, management has guided total pursuing low quality volume in a highly revenue of approximately over `900 competitive market. crore. We believe the systems, people, During FY26, HIL managed seven active and processes built over the [Showing first 8,000 characters — download PDF for full document]