Shareholders meeting

ffffiilffi l\ G R c) IF$ Agro Industrios Limited Plot No. : IllD-S' Sector -l East Kolkata Township, Kolkata - 700 107 Phone: 033-39849675 Websile : www.ifbagro.in E-mail : complianceilbagr@ifbglobal.com CIN : L01409WB1982PLC034590 7thluly,2026 The Manager The Secretary, National Stock Exchange of India Ltd. Bombay Stock Exchange of India Ltd Listing Department Phiroze eejebhoy Towers Exchange Plaza, 5th fl oor Dalal Street, Plot No. C/t, G. Block Mumbai-400001 Bandra Kurla Complex, Bandra (E) Scrip ID; 507438 Mumbai - 400 051 Stock Code: IFBAGRO Dear Sir, Sub: Annual Report for the financial year ended 31st March. 2026 We enclose, in terms of Regulations 30 and 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20tS a copy of the Annual Report and Financial Statements of the Company for the financial year ended 31't March, 2026 together with the Notice dated Z8th May, 2026 convening the 44th Annual General Meeting of the Company scheduled to be held on Wednesday, July 29,2026 att2.30 P.M. (lST) through Video Conferencing ('VC') / Other Audio Visual Means ('OAVM') which is being sent only through electronic mode to the Members and other stakeholders of the Company whose email addresses are registered with the Company/ Company's Registrar and Share Transfer Agent / Depository Participant(s). The Notice of the 44th AGM and the Annual Report for the F.Y.2025-2026 are also being uploaded on the website of the Company at www.ifbagro.in This is for your kind information and records. Thanking you, Yours faithfully FoT IFB AGRO INDUSTRIES LIMITED Kuntal Roy Company Secretary NNOO NO INTERNATIONAL AADDDDEEDD MMSSGG ANTIBIOTICS QUALITY STANDARD (cid:110)BOARD OF DIRECTORS (cid:110)WORKS Distillery Chairman Noorpur, P.S. Ramnagar Mr. Bikramjit Nag Dist. : South 24 Parganas Executive Vice Chairman West Bengal - 743 368 Mr. Arup Kumar Banerjee Executive Director-Finance, Strategy and Acquisition & (cid:108)Panagarh, Dist. : Burdwan, West Bengal - 713 148 Chief Financial Officer Mr. Rahul Choudhary (cid:108)Vill-Panchghara, PS-Chanditala, Dankuni, Dist. : Hooghly, Executive Director-Operations & CEO-Distillery Business West Bengal - 712 306 Mr. Santanu Ghosh Marine Processing Plant Independent Directors (cid:108)Plot No. IND-5, Sector-1, East Calcutta Township Mr. Malay Kumar Das Kolkata - 700 107 Dr. Runu Chakraborty (cid:108)Village & P.O- Dakshin Kalamdan, Dr. Janardan Anna Gore Dist:-Purba Medinipur, West Bengal - 721 430 Mr. Sanjoy Dutta Fish Feed Plant (cid:110)COMPANY SECRETARY Vijayawada, R.S. Nos. 22/1, 23, 30, Morsapudi Village, Mr. Kuntal Roy Nuzvid Mandal, Krishna District, Andhra Pradesh - 521 111 and (cid:110)AUDITORS Shrimp Feed Plant M/s MSKA & Associates LLP Rajahmundry, SY. Nos. 625/1, 625/2, 625/3, 625/4, Chartered Accountants 625/5, 625/6, 696/3, 696/4, ADB Road, Vadisaleru Village, Rangampeta Mandal, East Godavari District, (cid:110)REGISTERED OFFICE Andhra Pradesh - 533 294 Plot No. IND-5, Sector-1 East Calcutta Township, Kolkata - 700 107 (cid:110)BANKERS Tel : (033) 3984 9675 AXIS Bank Limited E-mail : complianceifbagro@ifbglobal.com FEDERAL Bank Limited Website : www.ifbagro.in DBS Bank Limited CIN : L01409WB1982PLC034590 HDFC Bank Limited (cid:110)REGISTRAR & SHARE TRANSFER AGENT CONTENTS (For both Physical & Dematerialised Shares) MUFG Intime India Pvt. Ltd (Consequent to merger of CB Management Services (P) Chairman's Message 4-5 Ltd with MUFG Intime India Private Limited, effective from May 8, 2026) Notice 6-21 Branch Office:- Rasoi Court, 5th floor, 20 R N Mukherjee, Board’s Report with Management Discussion and Kolkata - 700 001 Analysis 22-44 Tel : (033) 6906-6200 Fax : (033) 4011 6739 Report on Corporate Governance 45-65 E-mail:investor.helpdesk@in.mpms.mufg.com Website : www.in.mpms.mufg.com Standalone Financial Statements 66-125 Registered Office:- Consolidated Financial Statements 126-183 C-101, 247 Park, LBS Marg, Vikhroli (West) Mumbai-400083 Ten Years’ Standalone Financial Summary 184 44th Annual Report 2025-26 1 Mr Bijon Nag | (1942 - 2024) AGRO INDUSTRIES LIMITED Chairman's Message I would like to take a moment to honour the enduring legacy of our Founder and Chairman, Mr. Bijon Nag, who passed away on 28th January 2024 in Singapore, where he had been undergoing treatment. Over the past year, we have remained focused on strengthening our foundation, enhancing resilience, and moving forward with renewed commitment to the Values, Vision and Principles he stood for. IFB Agro was primarily in the business of alcohol in the State of West Bengal and marine shrimp-processing for supplying best quality shrimps from Bengal to USA, Russia, Europe, Japan, etc. As part of backward integration, our Founder Chairman always wanted IFB to be in the business of manufacturing the best quality Feed for the farmers engaged in farming of shrimp and fish. He was very excited about the Fish Feed project at Odisha and was keen that the Feed business becomes a big valuable business. The Management, in order to pursue his dream of exponential growth, made a strategic entry into the aquaculture feed segment by acquisition of commercial compound shrimp feed and freshwater fish feed business in India, from Cargill India Private Limited. This business, with an annual turnover of ` 353 crore as on 31st March 2025, was acquired at a consideration of ` 110 crore plus working capital, along with its distribution network, feed formulations, assets, contracts, business liabilities, licenses, employees, and manufacturing facilities located at Vijayawada and Rajahmundry, Andhra Pradesh. The acquisition became effective from 1st August 2025 and marks a significant milestone in the Company's growth strategy, strengthening its presence in the high-potential aquaculture sector. After taking over the business, the integration of team, IT system has been done successfully and we have witnessed a decent growth in the business. Margins remained under pressure, as there was abnormal increase in the prices of Raw Material which could not been passed on due to price control from AP Government. To fulfill Chairman's dream, the Company undertook a value-added sea-food manufacturing project in Vietnam, in a capex light model investment in some key machineries installed in a third party plant. During the year, the IFB Vietnam transitioned from the development and product validation phase to the commencement of initial commercial operations. This is a significant project for the company as this will transform the product profile from a traditional frozen product to a value added shrimp product. The first shipment took place in April, 26. During the current financial year, focus will be to grow the business and achieve break even. The year ended with standalone net operational revenue of ` 1404.48 crore, an increase of ` 345.26 crore from last year. Operational profit (EBITDA) increased to ` 124.28 crore in 2025-26 (` 59.24 crore in 2024-25). The performance for the FY 2025-26 was better compared to last financial year but the business witnessed challenging environment and tough competition. Operations at Distillery was affected by intermittent stoppage of production due to high stock, as customers were reluctant to lift material due to the illegal methods adopted by the State Excise authorities. The IML business was also adversely affected due to illegal interference of the Excise Authorities at the District level. The Company had made various representation to the then Hon'ble Chief Minister and Excise Commissioner, West Bengal informing such illegal activities by his department both in Distillery and IML, with a request to stop such activities. No action was taken by the then Excise Commissioner in this respect of these pending complaints since 2020. Representation was also made to the then Hon'ble Chief Minister of West Bengal to intervene. Let's hope the new Government in the State will take necessary steps against the persons involved in [Showing first 8,000 characters — download PDF for full document]