Annual Report of the Company for the Financial Year 2025-26

APOLLO FINVEST (INDIA) LTD. CIN:L51900MH1985PLC036991 REGISTEREDOFFICE:301,PlotNo.B-27, CommerceCentre,OffNewLinkRoad NearMoryaHouse,AndheriWest,Mumbai, Maharashtra400053 EmailId:info@apollofinvest.com ContactNo.7700986861 Website:www.apollofinvest.com August24,2026 CorporateRelationsDepartment BSELimited PhirozeJeejeebhoyTowers, DalalStreet, Mumbai400001 BSEScripCode:512437 DearSir/Madam, Sub: IntimationunderSEBI(ListingObligationsandDisclosureRequirements)Regulations, 2015 as amended ("SEBI Listing Regulations") - Notice of the 40th (Fortieth) Annual GeneralMeetingandAnnualReportforthefinancialyear(“FY”)2025-26. Pursuant to Regulation 30 and Regulation 34(1) of the SEBI Listing Regulations, please find enclosed the Notice of the 40th(Fortieth) Annual General Meeting (“AGM”) of the Members of Apollo Finvest (India) Limited (“the Company”) scheduled to be held on Thursday, September 17, 2026, at 11:30 A.M. (IST) through Video Conferencing (“VC”) / Other Audio- VisualMeans(“OAVM”)andtheAnnualReportfortheFY2025-26. In compliance with relevant circulars issued by Ministry of Corporate Affairs and SEBI, the aforesaiddocumentsarebeingdispatchedelectronicallytotheMemberswhoseemailIDsare registered with the Company / Registrar & Share Transfer Agent (“RTA”) / Depository Participant(s)(“DPs”). Further, in accordance with Regulation 36(1)(b) of the SEBI Listing Regulations, a letter providingtheweb-linkforaccessingtheAnnualReportforFY2025-26isbeingsenttoallthose Members who have not registered their email IDs with the Company/ RTA/ DPs. The details such as (i) manner of registering/updating - email IDs, (ii) casting vote through e-voting and (iii)attendingtheAGMthroughVC/OAVMaresetoutintheNoticeconveningthe40thAGM. APOLLO FINVEST (INDIA) LTD. CIN:L51900MH1985PLC036991 REGISTEREDOFFICE:301,PlotNo.B-27, CommerceCentre,OffNewLinkRoad NearMoryaHouse,AndheriWest,Mumbai, Maharashtra400053 EmailId:info@apollofinvest.com ContactNo.7700986861 Website:www.apollofinvest.com The copy of the Notice of AGM and Annual Report is also available on the website of the Companyatwww.apollofinvest.com,onthewebsiteoftheStockExchangei.e.BSELimitedat www.bseindia.com,andontheCDSLwebsiteatwww.evotingindia.com. Werequestyoutotaketheaforesaidonrecords. ThankingYou, ForApolloFinvest(India)Limited MikhilInnani ManagingDirector&CEO DIN:02710749 th Annual Report 2025-26 Your next loan is 2 minutes away Board of Key Managerial Auditors Directors Personnel GMJ & Co Chartered Accountants MR. MIKHIL INNANI MR. MIKHIL INNANI Managing Director & CEO Managing Director & CEO 3rd & 4th Floor, B-Wing, Vaastu Darshan, Azad Road, MS. DIKSHA NANGIA MS. DIKSHA NANGIA Above Central Bank of India, Whole Time Director & CFO Whole Time Director & CFO Andheri (East), MS. PRIYANKA ROY Mumbai - 400 069 MS. PRACHI JAIN Independent Director Company Secretary & DR. KRUTI KHEMANI Compliance Officer Independent Director (Till May 6, 2025) MR. PARITOSH RAM KHATRY MS. DISHA KHEMANI Independent Director Company Secretary & MR. AKASH SAXENA Compliance Officer (Till 29th August, 2025) Independent Director MS. POOJA GOHEL Company Secretary & Compliance Officer Registrar & Share Bankers Transfer Agents IDBI Bank Limited HDFC Bank Limited MUFG Intime India Private Limited (LINK IDFC FIRST Bank Limited INTIME INDIA PVT LTD). ICICI Bank Limited Axis Bank Limited C-101, 247 Park, L.B.S. Road, Vikhroli (West), Mumbai- 400083 TEL: 022-49186270/ 491 T H ANNUAL REGISTERED OFFICE GENERAL MEETING 301, Plot No. B-27, Commerce Centre, Off New Link Road, Near Morya House, Andheri West, FOR THE STAKEHOLDERS Mumbai, SEPTEMBER 17, 2026 | 11:30 A.M. Maharashtra 400053 Through Video Conferencing (VC)/Other Audio Visual Means (OVAM) Email: info@apollofinvest.com Corporate Overview CEO’S Letter 05 CFO’s Letter 11 Product Blog 17 Statutory Building the Apollo Reports Brain 25 The Rumours of Management the Demise of Jobs Discussion & Have Been Greatly Analysis 43 Exaggerated 30 Notice 57 Financial Collection Blog 36 Director’s Report 87 Reports Corporate Governance Report 126 Independent Auditor’s Report 175 Financial Statements 194 Contents Corporate Overview 40TH ANNUAL CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL REPORTS REPORT | FY 2025-2026 CEO’S LETTER Building for the Next 40 Years This year, Apollo turned 40. Anniversaries invite nostalgia. We resisted it. We spent this year asking a harder question: what should the next 40 years of Apollo look like? I think about this question in a specific way, because of how this company came to me. Apollo was built by my father. The thing he built outlasted him — it stood on its own, independent of any one person, including its founder. That is the definition of an institution. And so the real question in front of Diksha and me is not “how do we grow the company?” It is: can we build something that outlasts even us? Everything we did this year was measured against that bar. 40TH ANNUAL CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL REPORTS REPORT | FY 2025-2026 we saw enough companies prove that the Patience, unit economics of a digital lending business genuinely work. Over the last couple of Then Speed years, that proof arrived. We, through the partnership model, worked closely with People often ask us: why now? For eight companies where we observed clear years you ran a partnership business. You green shoots. This got us intrigued. were comfortable. Long-term thinking is sometimes mistaken Why change? for slowness. It is not. It is patience about when to move, combined with total urgency once you do. We waited eight years. Then we built our app in one month. Apollo Cash Out of all of this, Apollo Cash was born — our own direct lending business. Apollo Cash is an app focused on offering small-ticket unsecured personal loans — The honest answer is that the last eight years up to ₹1 lakh, for 3 to 12 months — to the underbanked borrowers of India. Internally, were never just a business — they were an we like to say it this way: the banks and education. Through our partnership model, larger lenders are focused on the 100 we had the best seat in the house to watch million people living in India. We are lending digital lending in India grow up. We worked to the 900 million people living in Bharat. with more than 70 digital lending partners. We saw what worked. We saw what failed, We chose to build this app from a place and more importantly, why it failed. That of ambition, on purpose. If you are going was the wise thing to do at the time, and I to think in decades, you cannot start with would do it again. a small vision. Our aspiration is that Apollo Cash eventually becomes our biggest line of We do not believe in first-mover advantage. business and grows this company to 100x Certainly not in lending, where moving its current size. We may be misunderstood first mostly means making the expensive for saying that out loud today, while the mistakes first. In lending, the advantage business is young. We are comfortable goes to whoever learns fastest and loses being misunderstood for a while. least. So we waited — deliberately — until 40TH ANNUAL CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL REPORTS REPORT | FY 2025-2026 But here is the part I most want you to of these disciplines. We did not build Apollo understand: the size of the opportunity is Cash for results in the next few quarters. not why we chose it. We chose it for the We built it because it is the kind of business compounding. that, run correctly, never stops improving — and a business that never stops improving A world-class lending institution is an ultra- is the closest thing to a forever company efficient, intelligent factory. It has many that exists. parts: customer acquisition, a technology platform that runs at scale with stability, What makes risk and fraud systems that separate good borrowers from bad, a finance function that us different Others have proven this business model works. So the fair question is: what will make Ap [Showing first 8,000 characters — download PDF for full document]