Submission of Annual Report of the Company for the year ended March 31, 2026.

iloRTH[RrJ SPIR l7S UillT ED CIN: 115500WB2012P1C185821 Registered Office r 5A, Woodburn Pork Rood, Woodburn Cenlrol Unit-603, 6'' Floor, Kolkoto-700020 Ph: 033-35446094; E-mail: info@northernspirit.in; Website: www.northernspirits.co.in To Au.gust 29,2026 BSE Limited Floor 25, Phiroze ]eejeebhoy Towers, Dalal Street, Mumbai - 400001 Scrip Code - 542628 Dear Sir/N4adam, SUB: Submission of Annual Renort for the Financial Yeat 2025-26 pursuant to Regulation 34 of Securities Exchange Board of India (Listing Obligations and Disclosure Reouirements) Reeulations, 2015 In compliance with the provisions of Regulation 34 of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed here with a copy of Armual Report of the Company for the year ended 31" March 2026. The same is also being dispatched electronically to the Members of the Company whose email ids are registered with the Company or Depository Participant(s). The copy of the Annual Report is also available on the Company's website: w.northems irits.co.rn You are requested to take the same in yout record. Thanking you, Yours faithfully, For Northem Spirits Limited Shweta Almal Company Secretary M. No A35039 Encl: As above DELHI NCR TRIPURA ASSAM MEGHALAYA WEST BENGAL UTTAR PRADESH ORISSA Dominating the Indian Market…. ANNUAL REPORT FY – 2025-26 Contents Corporate Information………page 1-3 Message from the MD……….page 4-8 Company Overview………..page 9-18 Notice of AGM……………..page 19-34 Directors’ Report with Annexures…………….page 35-83 Corporate Governance Report…….page 84-123 Auditors Report & Annual Accounts………page 124-174 CORPORATE INFORMATION On the Board…………… Directors Mr. Ankush Bakshi – Managing Director Mr. Anuj Bakshi – Executive Director Mrs. Roshni Bakshi – Executive Director Mrs. Kanika Bakshi – Executive Director Mrs. Malti Jaiswal - Independent Director Mr. Dinesh Shaw- Independent Director Mr. Sathvik Jain - Independent Director Mr. Arihant Jain - Independent Director Key Managerial Personnel Mr. Pankaj Khanna Mr. Sharad Agarwal Auditors & RTA……………. Statutory Auditors JKSS & Associates (Formerly J.K. Sarawgi & Company) Chartered Accountants EN 77, 5th Floor, Sector V, Salt Lake Kolkata – 700091 Registrar and Share Transfer Agent………. Maheshwari Datamatics Pvt Ltd 23, R.N Mukherjee Road, 5th Floor Kolkata- 700 001 West Bengal Tel.: (033) 2248 2248, Fax: (033) 2248 2248 Email id: accounts@mdpl.in / mdpldc@yahoo.com Website: www.mdplin.in Secretarial Auditors………… Mr. Anurag Fatehpuria Canara Bank Union Bank COMPOSITION OF COMMITTEES Audit Committee Mr. Sathvik Jain - Chairperson Mrs. Malti Jaiswal Mr. Ankush Bakshi Nomination and Remuneration Committee Mr. Arihant Jain - Chairperson Mr. Sathvik Jain Mrs. Malti Jaiswal Stakeholders Relationship Committee Mrs. Malti Jaiswal - Chairperson Mr. Sathvik Jain Mr. Dinesh Shaw Corporate Social Responsibility Committee Mr. Sathvik Jain - Chairperson Mrs. Roshni Bakshi Mrs. Kanika Bakshi Scan this QR Code to view the Report online For more information, log on to www.northernspirits.co.in REGISTERED OFFICE ADDRESS 5A, Woodburn Park Road, Woodburn Central, Unit No 603, 6th Floor, Kolkata – 700020 Tel: 033-35446094; E-mail: info@northernspirit.in Website: www.northernspirits.co.in VENUE OF THE 14TH ANNUAL GENERAL MEETING KENILWORTH HOTEL 1 & 2, LITTLE RUSSEL STREET KOLKATA - 700071, WEST BENGAL DAY, DATE & TIME: WEDNESDAY, 23.09.2026 AT 11: 30 A.M. E-VOTING: SUNDAY, 20.09. 2026 FROM 9.00 A.M. TO TUESDAY, 22.09.2026 TILL 5.00 P.M CUT-OFF DATE: 16.09.2026 Message from the Managing Director…… ************************************************** Dear Shareholders, It gives me great pleasure to present Northern Spirits Limited’s (NSL) Annual Report for the FY 2025- 26. Firstly, I take this opportunity to express my deepest gratitude and appreciation to all my stakeholders, vendors, customers and all well-wishers for their 14 long years of trust and faith imposed on the Company. Your continued support and enduring association have played a vital role in enabling us to maintain our position as one of the biggest Liquor Distribution Companies. Over the years we have spread our distribution network from Delhi NCR and West Bengal towards Uttar Pradesh, Assam, Meghalaya and Tripura. Plans are underway to enter the markets of Punjab and Haryana also. Reflecting on FY 2025-26, I can see how the Company has navigated through waves of disruption – be it the complete lockdown due to the pandemic, changes in government policies, regional conflicts, trade realignments and geo-political tensions NSL has performed excellently thorough consistent focus, disciplined execution and commitment. Gross revenues for this financial year stood at Rs. 2,31,087.73 Lakhs as against Rs. 1,94,261.38 Lakhs in the previous year. Net profit after Tax was placed at Rs. 2,714.20 Lakhs as compared to the net profit of Rs. 2,296.96 Lakhs incurred during the previous year registering a stable growth of 18.16%. The Earnings Per Share (EPS) stood at Rs. 16.91 (face value of Rs. 10/- each) for the financial year ended 31st March, 2026 as against Rs. 14.33 (face value of Rs. 10/- each) in the previous year. Company has maintained its momentum of satisfactory performance both in terms of profitability and turnover inspite of the challenges faced during the year. I am pleased to announce that NSL started its first dividend distribution in 2024 as a result of its successful turnaround to sustained earnings, growth and profitability. I’m happy to share that the Board of Directors for the financial year 2025-26 has recommended final dividend of Re. 0.35 per share subject to the shareholders’ approval in the Annual General Meeting of the Company. After NSL’s successful migration from SME platform of BSE Limited to Main Board of BSE in 2024, there has been significant increase in investor participation. Currently, market price of equity shares of NSL stands at Rs. 127.50. Company believes that based on its performance, profitability and future growth prospects the market price of NSL share is tend to increase manifolds. Last year NSL secured the exclusive right to distribute brands of Famiglia Berta Wines Since 1942 & Bespoke Distillery Srl which are renowned Italian brands. Company holds the pan lndia distribution rights for these brands, focusing on the premium category space of Gin, Liquors and Wines. This strategic move has enhanced brand equity and strengthened the bottom line over the long term. has always focused on premiumization by introducing the luxury and premium category brands into the market as there has been an increasing shift towards premiumization by the Indian consumers. Indian consumers are embracing premium products and services across various categories which is an encouraging sign for the future of the industry and aligns perfectly with our strategic focus. Your Company continues to lead the way in bringing high-quality international spirits and wines to the Indian market. Your Company’s forte has always been its strong distribution network managed by a strong, dynamic and experienced marketing team. The efficient and experienced teams are deeply integrated into the distribution system, ensuring seamless operations and exceptional service delivery. Moreover, Company’s state-of-the-art warehousing facilities provide our associates with access to ready resources, further enhancing our distribution capabilities. Your Company also has its own retail outlet to reach the consumers directly. It operates a fully functional 2,000 square feet outlet named “The Liquor Exchange” in Noida. Further, NSL is planning to set up more highly advanced retail chains in other parts of the Country to serve liquor enthusiasts. During the year, NSL has developed an innovative portfolio of new brands aimed at capitalizing on the high-growth, high-margin Super-Premium to Luxury category. We believe that long-term business success must go hand-in-h [Showing first 8,000 characters — download PDF for full document]