Please find attached herewith the Annual Report for the FY 2025-26.

ulFEL LEEii] - rm F H aiEN qfr dr GODAWARI POWER & ISPAT REF: GPILINSE&BSE/2026/6436 Date: 25.08.2026 To, To' BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C/1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (East), Munbai-400001. Mumbai-400051. Scrip Code: BSE: 532734 Scrip Code: GPIL Dear Sir"adan, Sub.: Submission of Annual Report of the Company for the FY 2025-26. Pursuant to Regulation 34 (1) of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, please find enclosed herewith Armual Report of the Company for the FY 2025-26 inlcuding Notice convening the 27th Annual General Meeting (AGM) to be held on 1 9`h September, 2026. The Armual Report and the Notice of AGM-2026 is also placed on the website of the Company i.e. www.godawaripowerispat.com and can be accessed as per the details given below: Armual Report for the FY 2025-26: www.godawaripowerispat.com at Financial Raporting> Annual Reports > Annual Report FY 2025-26. Notice of AGM to be held on 19th September, 2026: www.godawaripowerispat.com at Investor > Shareholders Information > MOA & AOA/General Meeting/Postal Ballot > Notice of Armual General Meeting to be held on 19th September, 2026. Please take the salne on record. Thanking you, Yours faithfull y, For, Godawari Power And Ispat Limited Y.C. Rao Company Secretary Encl.: As stated above A_^Avi¥y'H- An lso 9ool :2ol 5, ls014001 :2015, ls0 45001 :2018, 50001 :2018 & 2700l :2022 certified compi]ny CIN L24100CT I ?99PIC013756 negistered Office and Woi-ks: Plot No. 428/2, Phase 1, Industrial Area, Siltaro, Raipur -493111, Chhottisgcirh, India P: +91 771 4082333, F: +91 77T 4082234 Corp®rote Address: Hirci Arcade, Near Old Bus Stand, Pandri, Raipur -492004, Chhattisgarh, India P: +91 771 4082000, F: +91 771 4057601 ww\^/.godaworipowerispot.com, www.hiragroup.com TNETNOC 01 02 CORPORATE STATUTORY OVERVIEW REPORTS About this Report 02 Management Discussion and Analysis 96 Theme Intro 04 Business Responsibility & Sustainability Report 112 About Us 06 Corporate Information 152 Key Highlights 10 Directors Reports 153 Key Highlights Of Financial Year 2025-26 12 Corporate Governance Report 176 Journey and Milestone 16 Our Offerings 18 Value Creation Model 24 Management Message 26 FINANCIAL Board of Directors 30 STATEMENTS Market Opportunity 34 Strategic Review 40 Independent Auditor’s Report (Standalone) 209 GPIL Expansion Plan 46 Standalone Financial Statements 221 Stakeholder Engagement 52 Independent Auditor’s Report (Consolidated) 284 Financial Capital 54 Consolidated Financial Statements 291 Manufactured Capital 56 Notice 352 Human Capital 60 Intellectual Capital 66 Social and Relationship Capital 70 Natural Capital 76 Risk Management and Mitigation 84 Governance 90 Awards and Accolades 94 INVESTOR INFORMATION Market capitalisation `18046.28 Crores (as on 31 March, 2026) CIN L24100CT1999PLC013756 NSE Symbol GPIL BSE Code 532734 Dividend Recommended Re.1/= per equity share of Re.1/= (i.e. 100%) Scan the QR code AGM Date 19th September 2026 to view our Annual Report CORPORATE OVERVIEW ABOUT THIS REPORT REPORTING SCOPE Including: AND BOUNDARY Business Responsibility and Sustainability Reporting (BRSR) Board’s Report The report comprises: Voluntary Disclosures & REPORTING SCOPE AND BOUNDARY REPORTING PRINCIPLES Sustainability Information Corporate Governance Report AND FRAMEWORK l Integrated Annual Report The Integrated Annual Report for FY 2025-26 presents l Statutory Disclosures a comprehensive and cohesive account of Godawari This Integrated Annual Report has been prepared Power & Ispat Limited’s (hereinafter referred to as in accordance with the following frameworks and “GPIL”, “Company”, “we”, “our” or “us”) journey of creating regulatory requirements: sustainable value for its stakeholders. The report Companies Act, 2013 (including applicable outlines how the Company leverages its integrated rules thereunder) steel, iron ore mining and power business model, operational excellence, strategic investments and • Companies (Indian Accounting Standards) Management Discussion and Analysis sustainability-led initiatives to deliver long-term value REPORT Rules, 2015 for shareholders, customers, employees, communities, CONTENT regulators and business partners. This commitment • SEBI (Listing Obligations and Disclosure underpins our value creation philosophy and reflects Requirements) Regulations, 2015 our focus on achieving sustainable growth while • SEBI Business Responsibility and Sustainability maintaining responsible business practices Reporting (BRSR) requirements Notice of Annual General Meeting • International Integrated Reporting Framework (IIRC Framework) Statutory Enclosures • Global Reporting Initiative (GRI) Standards Secretarial Audit Report Financial Information Standalone Financial Statements Consolidated Financial Statements FORWARD-LOOKING STATEMENTS REPORTING PERIOD This report contains forward-looking statements This Integrated Annual Report covers the financial regarding the expected future performance, business year from 1 April 2025 to 31 March 2026. The prospects, financial position and growth plans report includes material developments, operational of the Company. These statements are based on performance, sustainability initiatives and significant management’s current expectations, assumptions events occurring during the reporting period and up and estimates and are subject to various risks and to the date of approval of the report by the Board of uncertainties. Actual results may differ materially Directors. The reporting boundary covers Godawari from those expressed or implied due to changes in Power & Ispat Limited and its material subsidiaries and economic conditions, industry dynamics, regulatory business operations. developments and other factors beyond the Company’s control. Readers are advised not to place undue reliance on such statements. The Company undertakes no obligation to publicly update or revise any forward- looking statements except as required by applicable laws and regulations. Annual Report 2025-26 Godawari Power & Ispat Limited CORPORATE OVERVIEW THEME INTRO CHARTING THE BUILDING MOMENTUM ACROSS THE VALUE CHAIN Progress is often measured in numbers, but its true significance lies in what those numbers NEXT HORIZON represent. Across operations, GPIL continued to demonstrate the strength of its integrated ecosystem, the discipline of execution and the resilience that has become a hallmark of its journey. Every horizon reached reveals another waiting beyond it. Growth, therefore, is not From mines to metals, from processing to value-added products, every link in the value a destination—it is a continuous pursuit of possibility. For Godawari Power & Ispat chain contributed to a year marked by consistency, reliability and operational excellence. Limited, FY 2025-26 was a year of building momentum, sharpening capabilities The collective performance reflected not only the efficiency of assets but also the power and preparing the enterprise for a future defined by greater ambition and wider of integration, collaboration and a shared commitment to excellence. opportunities. These achievements reinforce a simple truth: sustainable growth is built when every part Anchored by an integrated business model and guided by a long-term vision, the of the enterprise moves forward with purpose and alignment. Company focused on strengthening the engines that power progress. Each initiative, each improvement and each investment contributed to a larger objective: creating CREATING THE FOUNDATION FOR TOMORROW a stronger, more agile and future-ready organisation capable of unlocking the next phase of value creation. The future belongs to organisations that prepare for it before it arrives. With this belief, GPIL continued to strengthen the foundations that will support its next chapter of growth. The year witnessed meaningful progress across expansion [Showing first 8,000 characters — download PDF for full document]