Annual Report for the financial year ended on March 31, 2026

Date: August 27, 2026 To, To, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Exchange Phiroze Jeejeebhoy Towers Plaza, C-1, Block G Dalal Street Bandra Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 544527 Symbol: ATLANTAELE Subject: Annual Report for Financial Year 2025-26 and Notice of the 38th Annual General Meeting of the Company Dear Sir/Madam, Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), we are enclosing herewith the Annual Report of the Company for the Financial Year 2025-26 including the Notice of 38th AGM of the Company to be held on Monday, September 21, 2026 at 03.00 p.m. (IST) at Madhuban Resort & Spa, Anand-Sojitra Road, Vallabh Vidhyanagar, 388120, Gujarat, India. Please note that the electronic copy of the Annual Report along with the Notice of the 38th AGM for the Financial Year 2025-26 is being sent by email to those Members whose email addresses are registered with the Company/Depositories. Further pursuant to Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a letter including the exact path, where complete details of the Annual Report & Notice of AGM are available, is being sent to those Members whose email addresses are not registered with the Company/Depositories. The said Annual Report will also be available on the website of the Company at https://aetrafo.com/disclosure-under-regulation-46-of-sebi-lodr-regulation-2015.aspx and the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively. You are requested to take the above information on record. Thanking you, Yours faithfully, For Atlanta Electricals Limited Tejal S. Panchal Company Secretary and Compliance Officer Encl.: As above Page 1 of 1 xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx POWERING GROWTH. SUSTAINING TRUST. Consistency in delivery. Innovation in approach. ANNUAL REPORT 2025-26 ATLANTA ELECTRICALS LIMITED WWW.AETRAFO.COM SHRI KRUPESHBHAI PATEL 1954 - 2025 IN MEMORIAM The measure of a leader lies not only in what he builds, but in the values he leaves behind. To us, he was the guiding force behind every milestone, the wisdom behind every difficult decision, and the quiet conviction behind every success. His integrity, his steadiness and his faith in people continue to shape the way we think, the way we work and the way we grow. Long before it was within reach, he saw this Company as a listed one — held to public scrutiny, judged by public standards, answerable to shareholders beyond its own family. In FY26, Atlanta Electricals Limited took that step. He had prepared the Company for it for many years. His values remain our compass. His legacy lives on in every decision we take. With profound respect and enduring gratitude, we remember a leader whose vision continues to guide us. CORPORATE REVIEW STATUTORY REVIEW FINANCIAL REVIEW ACROSS OUR APPROACH TO Financial, Manufactured, Intellectual, REPORTING SCOPE AND REPORTING Human, Social & Relationship, and BOUNDARY Natural – to deliver value. The report THE PAGES This Annual Report of Atlanta This report covers the operations and To view or download this report also highlights the key aspects Electricals Limited (‘Atlanta’, ‘We’, or performance of Atlanta Electricals please visit: of our Environmental, Social, and ‘the Company’) presents a holistic Limited for the period from April 1, www.aetrafo.com Governance (ESG) performance view of how we are creating long- 2025, to March 31, 2026 (FY2025-26). and showcases our response to term, sustainable value for our It includes all revenue-generating 01 8 Message from the Chairman and Managing Director’s Desk stakeholder expectations, evolving stakeholders. This report reflects our business operations, project and 13 Numbers that Define Atlanta market conditions, and material strategic thinking, operating context, manufacturing sites, and our 14 MESSAGE FROM THE CEO issues impacting our business. CORPORATE OVERVIEW and value creation approach for the corporate headquarters. Information 16 Then and Now financial year ended March 31, 2026. regarding our subsidiaries, associate 18 Trust. Now on the Record. We are committed to upholding high companies, and joint ventures is 20 Who we are. Through this report, we aim standards of corporate disclosure provided in the annexures to the and accountability, with the goal of 24 Our Presence to provide transparent and Board’s Report. enabling providers of financial capital 25 Our capabilities comprehensive insights into how we and other stakeholders to make 28 Our Offerings use and transform the six capitals – informed decisions. 30 Our journey over the years 32 Competitive Strengths 34 A Grid being Rebuilt. 36 What’s next for us. SIX CAPITALS THAT DRIVE VALUE AT ATLANTA 38 From copper and steel to thirty years of service. 40 What Makes Ael An Interesting Investment Story? 43 The Six Capitals FINANCIAL MANUFACTURED INTELLECTUAL 68 Rewards & Certificates CAPITAL CAPITAL CAPITAL 70 Board Of Directors’ Profile Effective deployment of capital Our physical infrastructure, assets, Our expertise, innovative 74 Corporate Information combined with careful financial and advanced technologies support capabilities, and institutional 75 75 Management Discussion & Analysis management focuses on minimizing productivity, quality, and scalability. knowledge underpin our risk, optimizing costs, and delivering leadership position. 91 Board’s Report returns to stakeholders. 118 Corporate Governance Report STATUTORY REVIEW SOCIAL AND HUMAN NATURAL RELATIONSHIP Standalone CAPITAL CAPITAL CAPITAL 152 153 Independent Auditors’ Report The skills, talent, and capabilities Our partnerships with customers, Our ongoing commitment 166 Standalone Balance Sheet of our people, enhanced by our vendors, and communities are to sustainable resource use, FINANCIAL REVIEW 167 Standalone Statement of Profit & Loss initiatives in capacity-building and strong, rooted in trust and mutual renewable energy generation, 168 Standalone Cash Flow Statement inclusive development. growth. and reducing our carbon footprint. 170 Standalone Cash Flow Statement 172 Notes forming part of the Standalone Financial Statements APPROACH TO MATERIALITY Consolidated Material issues are identified through continuous engagement with stakeholders, taking into 216 Independent Auditors’ Report account emerging trends and business risks. This report details how these topics impact our 225 Consolidated Balance Sheet strategy and value creation over the short, medium, and long term. 226 Consolidated Statement of Profit & Loss Cautionary Statement 227 Consolidated Cash Flow Statement This document includes forward-looking statements about Atlanta Electricals Limited (‘the Company’) regarding expected future events and financials. These statements inherently involve assumptions and carry risks and 230 Consolidated Cash Flow Statement uncertainties. There is a considerable chance that these assumptions and predictions may not be accurate. 232 Notes forming part of the Consolidated Financial Statements Readers should not rely too heavily on these forward-looking statements, as various factors could cause actual results, assumptions, and future events to differ significantly. Therefore, this document is fully qualified by the assumptions, risk factors, and clarifications detailed in the Management Discussion and Analysis section of this Annual Report. NOTICE ANNUAL REPORT 3 2025-26 CORPORATE REVIEW STATUTORY REVIEW FINANCIAL REVIEW CORPORATE REVIEW STATUTORY REVIEW FINANCIAL REVIEW That is Transformers. A transformer is the least visible and the most unforgiving component of an electricity system. It is expected to run for thirty years without being noticed, to absorb every fault the grid throws at it, and never once to fa [Showing first 8,000 characters — download PDF for full document]