Annual Report for the FY: 2025-26.

24th August 2026 Corporate Relationship Department, Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai- 400 001 Scrip Code: 508969 (SULABEN), ISIN: INE673M01029 Subject: Notice of 43rd Annual General Meeting & Annual Report for the financial year 2025-26 Dear Sir/ Madam, The Annual Report for the financial year 2025-26, including the notice convening 43rd Annual General Meeting of the Members of the Company scheduled to be held on Monday, September 28, 2026, at 12:00 p.m. (IST) through Video Conference /Other Audio Visual means is enclosed. The Annual Report including AGM Notice are also available on the Company's website at https://www.sulabh.org.in/upload/PDF/00000449.pdf Direct Link to access Annual Report: https://www.sulabh.org.in/upload/PDF/00000449.pdf Direct Link to access Notice of AGM: https://www.sulabh.org.in/upload/PDF/00000451.pdf Further the cut-off date for the purpose of determining shareholder for E-Voting is 22nd September 2026 and Book closure will start from 23rd September 2026 and will end on 28th September 2026. E-voting will start from 25th September 2026 (09:00 A.M) till 27th September 2026 (05:00 P.M). This is for your information and record please. Thanking you, Yours faithfully, For Sulabh Engineers and Services Limited Tauheed Ahmad Company Secretary & Compliance Officer (Membership No.: A74592) Encl.: As above. Add: Regd. Off.:206, 2nd Floor, Apollo Complex Premises Cooperative Society Ltd., R.K. Singh Marg, Parsi Panchyat Road, Andheri (East), Mumbai, Maharashtra-400069/ Tel.: +91 22-67707822 Corp. Off.: Cabin No. 365 & 366 Padam Tower- II 3rd Floor, 14/113, Civil Lines Kanpur-208001/ Tel.:+91 8353917112 ANNUAL REPORT (2025-26) SULABH ENGINEERS AND SERVICES LIMITED Forty Third Annual Report (2025-26) Table of Contents Sr. No. Contents Page Nos. 1. Company Overview 3-4 2. Corporate Profile 5-6 3. Message from Managing Director 7-8 4. Corporate Information 9-10 5. Management Discussion and Analysis 11-21 6. Director Report 22-56 Declaration Regarding Adherence to the Code of 39 Conduct Certificate from Practicing Company Secretary on 40 Compliance of Conditions of Corporate Governance Certificate of Non-Disqualification of Directors 41-42 Managing Director & CFO Certification 43 Annexure-1 (Details Pertaining to Employees) 44-45 Annexure-2 (AOC - 1) 46 Annexure-3 (AOC - 2) 47 Annexure-4 (MR - 3) 48-52 Annexure-5 (MR-3 - of Material Subsidiary) 53-56 7. Corporate Governance Report 57-81 8. Disclosures Under RBI Regulations 82-87 9. Auditor’s Report (Standalone) 88-99 10. Financial Statements (Standalone) 100-135 11. Auditor’s Report (Consolidated) 136-144 12. Financial Statements (Consolidated) 145-177 13. Notice of 43rd Annual General Meeting 178-196 COMPANY OVERVIEW Founded in April 1983, Sulabh Engineers and Services Limited has consistently worked towards its mission of delivering inclusive financial services to individuals and organizations representing diverse segments of society. As an RBI-licensed and BSE-listed Non-Banking Financial Company (NBFC), the Company has built its operations around the principles of innovation, accessibility, and financial inclusion, with a continuous focus on addressing the evolving financial needs of customers across India. Over the years, the Company has established itself as a trusted financial partner by offering customer- oriented solutions designed to support growth, stability, and long-term financial progress. Innovation and financial inclusion remain central to the Company’s business philosophy. Through its focused approach, the Company has contributed towards empowering India’s expanding mass affluent and middle-class population by facilitating access to a broad spectrum of financial services. By understanding customer aspirations and financial requirements, the Company has continuously endeavored to bridge the gap between financial needs and accessible funding solutions, thereby enabling customers to pursue personal and business growth opportunities with confidence. The Company offers a diversified portfolio of financial products and services tailored to meet varied customer requirements. Its offerings include loans for business expansion, working capital requirements, purchase of equipment and machinery, term loans against property, and loans for acquisition of commercial properties. These financial solutions are structured to provide flexibility, convenience, and support to customers in achieving their operational and strategic objectives. Through its carefully designed financial products, the Company seeks to create value for customers while maintaining a strong focus on responsible financial practices. Over the years, the Company has also developed and maintained strong relationships with leading banks and financial institutions for effective management of asset collateral and securitization activities. These associations have enabled the Company to strengthen its operational capabilities and enhance the efficiency of its financial services. By leveraging such partnerships, the Company continues to support sustainable growth while maintaining sound financial management practices. The growth and progress achieved by the Company during the past four decades have been driven by its unwavering commitment to customer service, transparent business practices, disciplined financial policies, and the enduring trust and loyalty of its customers. The Company firmly believes that long- term success is built upon integrity, accountability, and customer satisfaction. Its customer-centric philosophy emphasizes understanding individual customer needs and delivering financial solutions that are practical, reliable, and aligned with their aspirations. By placing people at the center of its operations, the Company has strengthened its connection with customers at the grassroots level and has emerged as a preferred financial services provider for many individuals and organizations. The Company’s journey reflects a commitment not only to business growth but also to fostering trust, transparency, and meaningful relationships with customers and stakeholders. The loyalty and confidence of its customers stand as a testament to the Company’s consistent efforts towards delivering dependable and value-driven financial services. In addition to its lending and financing activities, the Company is engaged in providing project financing, managerial expertise, and various support services aimed at ensuring efficient and effective service delivery. Its wide range of offerings includes financial services, project development and management, investment-related services, project financing, asset management, corporate advisory services, and back-office support services. Through this integrated service approach, the Company seeks to address diverse customer requirements under a comprehensive and professionally managed framework. The Company remains committed to serving as a complete financial solutions partner for its customers by consistently delivering high-quality services and innovative financial products. Its continued focus on customer satisfaction, operational excellence, and value creation reflects the Company’s dedication towards supporting customers throughout their financial journey and contributing meaningfully to their growth and success. CORPORATE PROFILE Margin Financing  Financing the long-term component of working capital needs. Asset Financing  Providing financing to a client for asset acquisition, using the acquired asset as collateral. This acquisition funding can also be structured as bridge financing, with the financing subsequently transferred to other lenders. Promoter Funding  Financing against promoter's shareholding for capital investment aimed at business expansion and diversification.  Structured debt financing solutions.  Financing based on specific cash inflows or assets, allowing for customized financing structures tailored to business needs. [Showing first 8,000 characters — download PDF for full document]