Goyal Aluminiums Ltd Directors Report

2025-2026

Dear Members,

The Board of Directors (Board) of Goyal Aluminiums Limited (The Company) are pleased to present the Boards Report on the business and operations of the Company along with the audited standalone and consolidated financial statements for the financial year ended March 31, 2026 (FY 2025-26 or FY26).

HIGHLIGHTS OF FINANCIAL PERFORMANCE AND STATE OF COMPANY S AFFAIRS

The standalone and consolidated financial highlights of your Company are as under:

(In thousands)

Particulars	Standalone		Consolidated
	For the financial year ended	For the financial year ended
	31 March, 2026	31 March, 2025	31 March, 2026	31 March, 2025
Revenue from Operations	7,55,519.14	7,65,130.75	7,55,519.14	7,65,130.75
Other Income	3,075.49	2,816.59	3,075.49	2,816.59
Total Income from operations	7,58,594.63	7,67,947.34	7,58,594.63	7,67,947.34
Total Expenses	7,32,826.06	7,46,878.65	7,32,826.06	7,46,878.65
Profit Before Tax (PBT)	25,768.57	21,068.69	25,768.57	21,068.69
Extraordinary Items
Less: Taxes (current & deferred)
Current Tax	6,604.71	5,876.65	6,604.71	5,876.65
Deferred Tax	(93.70)	(110.95)	(93.70)	(110.95)
Earlier year Tax Adjustments	-	415.08	-	415.08
Profit After Tax (PAT)	19,257.56	14,887.91	19,257.56	14,887.91
Share of profit in associate			11,576.78	7,976.27
Profit/Loss for the year	19,257.56	14,887.91	30,834.34	22,864.18
Other Comprehensive Income	53.67	34.17	53.67	34.17
Total Comprehensive Income	19,311.23	14,922.08	30,888.01	22,898.35
Earnings Per Equity Share ( )
Basic	0.13	0.10	0.22	0.16
Diluted	0.13	0.10	0.22	0.16

REVIEW OF OPERATIONS & PERFORMANCE:

STANDALONE

The Companys total Income during the year under review was Rs. 7,58,594.63 thousand as compared to Rs. 7,67,947.34 thousand in previous year. The Profit after Tax for the year is Rs. 19,257.56 thousand as compared to Rs. 14,887.91 thousands in previous year.

CONSOLIDATED

The Companys total Income during the year under review was Rs. 7,58,594.63 thousand as compared to Rs. 7,67,947.34 thousand in previous year. The Profit after Tax for the year is Rs. 19,257.56 thousand as compared to Rs. 14,887.91 thousand in previous year

Your directors are continuously looking for a new avenue for future growth of the Company and expect growth in future period. A detailed analysis of the financial results is given in the Management Discussion and Analysis Report, which form part of this report.

STATE OF COMPANYS AFFAIRS

Our Company is engaged in multi-product trading in Aluminium. The Companys mission is to leverage its networks in the Trading community of Delhi as well as to increase its presence in the Aluminium sector in Northern India. Our Company is in the process of building a quality and innovation focused trading vertical as well as developing a strong team to cater to its proposed increased operational needs.

SHARE CAPITAL STRUCTURE

Authorized capital

During the financial year under review, there was no change in the Authorised Share Capital of the Company. As on March 31, 2026, the Authorized Share Capital of the Company stands at 14,30,00,000/- (Rupees Fourteen Crore and Thirty Lakhs only) consisting of 14,30,00,000 equity shares of . 1/- (Rupees One) each.

Issued, Subscribed and Paid-Up Share Capital

During the financial year under review, there was no change in the Issued, Subscribed and Paid-Up Share Capital of the Company. As on 31st March 2026, the Issued, Subscribed and Paid-Up Share Capital of the Company stands at 14,27,32,780 (Rupees Fourteen Crore Twenty-Seven Lakhs Thirty-Two Thousand Seven Hundred and Eighty) consisting of 14,27,32,780 Equity Shares of. 1/-each.

DIVIDEND

After careful consideration of the Companys financial position, future growth plans, and long-term strategic objectives, the Board of Directors has not recommended any dividend for the financial year ended March 31, 2026. The Board believes that retaining the profits and reinvesting them in the Companys business will strengthen its financial position, enhance operational capabilities, support future growth initiatives, and create a stronger reserve base. This prudent approach is intended to improve the Companys long-term competitiveness and maximize sustainable value creation for all shareholders.

TRANSFER TO RESERVES

During the FY 2025-26, the Board has not proposed to transfer any amount to the General Reserves as maintained by the Company. Further, the details of transfers, to other reserves, are disclosed in Note No. 15 to the standalone financial statements and Note No. 15 to the consolidated financial statements forming part of this Annual Report.

MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END OF THE FINANCIAL YEAR AND DATE OF REPORT.

Except as disclosed elsewhere in this Report, there have been no material changes or commitments affecting the financial position of the Company that have occurred between the end of the financial year to which the financial statements relate and the date of this Report.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

In compliance with the provisions of the Act and SEBI Listing Regulations, the Company extends financial assistance to its associates Company, in the form of investments and Loan etc., from time to time, in order to meet their business requirements.

The particulars of loans, guarantees, investments and other transactions covered under Section 186 of the Act and Schedule V of the SEBI Listing Regulations are disclosed in Notes 5,6 and 33 to the standalone financial statements of the Company, forming part of this Annual Report.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

All contracts, arrangements, and transactions entered into by the Company with its related parties during the financial year 2025 26 were in the ordinary course of business and on an arms length basis, in compliance with the provisions of the Companies Act, 2013 and the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. During the year under review, the Company enter into any material related party transaction requiring shareholders approval under the applicable provisions of the Act or the SEBI Listing Regulations. Accordingly, all Related Party Transactions (RPTs) were reviewed and approved by the Audit Committee, wherever applicable. The particulars of the Related Party Transactions are disclosed in Note No. 33 to the Financial Statements. The disclosure in Form AOC-2, as prescribed under Section 134(3)(h) of the Companies Act, 2013 read with Rule 8(2) of the Companies (Accounts) Rules, 2014, is annexed to this Report as Annexure I .

The Company has adopted a Policy on Related Party Transactions (RPT Policy) in compliance with Regulation 23 of the SEBI Listing Regulations, which is available on the website of the Company at https://www.goyalaluminiums.com/policies.php

CORPORATE SOCIAL RESPONSIBILITY

Based on the audited financial statements for the financial year ended March 31, 2026, the Company does not meet any of the thresholds prescribed under Section 135(1) of the Companies Act, 2013, namely: (i) net worth of 500 Crore or more, (ii) turnover of 1,000 Crore or more, or (iii) net profit of 5 Crore or more. Accordingly, the provisions relating to Corporate Social Responsibility (CSR) are not applicable to the Company during the financial year under review.

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

Your Company does not have any Subsidiary during the period under review. However Company has 1 Associate Company i.e., Wroley E India Private Limited running a business of manufacturing and trading of E-vehicle.

Further, pursuant to sub-section 129(3) read with Rule 5 of the of Companies (Accounts) Rules, 2014, the statement containing the salient feature of the financial statement of associate company is furnished in Form AOC-1 as Annexure-II .

ANNUAL RETURN

In accordance with the provisions of Sections 92 and 134 of the Act read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the draft Annual Return of the Company for the Financial Year 2025-26 as prescribed in Form MGT-7 has been placed on the Companys website and is available at https://monteil.in/pages/investors-declaration

BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

The Board of Directors (the Board) of your Company are responsible for and are committed to sound principles of Corporate Governance in your Company. The Boards focus is on the formulation of business strategies, policies and robust control systems. The Board provides strategic guidance and direction to your Company in achieving its business objectives and protecting the interest of the stakeholder.

Matters reserved for the Board are those affecting your Companys overall strategic policies, finances and shareholders. These include, but are not restricted to, deliberation of business plans, risk management, internal control, preliminary announcements of interim and final financial results, dividend policy, annual budgets, major corporate activities such as material acquisitions and disposals and connected transactions.

Your Company has a professional Board with right mix of knowledge, skills and expertise with an optimum combination of Executive including one Woman Director, Non-Executive and Independent Directors.

None of the Directors of your Company is disqualified as per provisions of Section 164(2) of the Companies Act, 2013. The Directors of the Company have made the necessary disclosures as required under various provisions of the Companies Act.

There were no changes in the composition of the Board of Directors during the financials year 2025-26 As on March 31 2026, Composition of Board Directors of the Company as follows:

S. No Name of the Director	DIN	Designation
1. Mr. Sandeep Goyal	07762515	Chairman, Managing Director & Chief Financial Officer
2. Mrs. Kanchan Goyal	09597233	Executive Director
3. Mr. Chahat Gupta	07762521	Non- Executive Director
4. Mr. Bishamber Nath Mehra*	08700633	Independent Director
5. Mr. Achal Kapoor	09150394	Independent Director
6. Mr. Amit Agarwal*	07854072	Independent Director

* Mr. Bishamber Nath Mehra and Mr. Amit Agarwal had resigned from post of Independent Director after the closure of financial year March 31, 2026, with effect from April 01,2026.

Further, based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors appointed Ms. Pushpa Joshi (DIN: 06838093) and Mr. Saurabh Gakhar (DIN: 10790325) as Additional Directors in the category of Independent Directors with effect from April 17, 2026, subject to the approval of the Members.

KEY MANAGERIAL PERSONAL

In accordance with Section 203, read with Section 2(51) of the Companies Act, 2013, the following executives continue to serve as Key Managerial Personnel of the Company.

S. No Name	DIN/PAN	Designation
1. Mr. Sandeep Goyal	07762515	Chairman, Managing Director & Chief Financial Officer
2. Mrs. Geetika Mittal*	BEHPM1273B	Company Secretary and Compliance Officer

* During the year under review, Mr. Mayank Nigam, Company Secretary & Compliance Officer and Key Managerial Personnel of the Company, resigned from his position with effect from January 10, 2026. The Board placed on record its appreciation for the services rendered by him during his tenure with the Company.

Subsequently, Mrs. Geetika Mittal was appointed as the Company Secretary & Compliance Officer and designated as a Key Managerial Personnel of the Company with effect from February 06, 2026, in accordance with the provisions of Section 203 of the Companies Act, 2013 and applicable SEBI Regulations.

DIRECTORS LIABLE TO RETIRE BY ROTATION

In accordance with the Section 152(6) of the Act, not less than 2/3rd (two-third) of the total number of directors of the Company (other than Independent Directors and Nominee Directors) shall be persons whose period of office is liable to determination by retirement of directors by rotation and one-third of such of the directors for the time being are liable to retire by rotation at every subsequent annual general meeting. Accordingly, pursuant to the Act read with Articles of Association of your Company Mrs. Kanchan Goyal (DIN: 09597233) been longest in office is liable to retire by rotation and, being eligible, offers herself for reappointment.

BOARD MEETINGS

During the Financial Year 2025-26, the Board met 09 (Nine) times and the details of the meetings along with the attendance details are provided in the Corporate Governance Report, which forms the part of this Annual Report. The gap between any two consecutive Board and/or Committee meetings was within the limits prescribed under Section 173 of the Act and applicable provisions of the SEBI Listing Regulations. The requisite quorum was present at all the meetings held during the period under review.

COMMITTEES OF THE BOARD

In compliance with the provisions of the Act and the SEBI Listing Regulations the Board has constituted following statutory committees: a) Audit Committee; b) Nomination and Remuneration Committee; and c) Stakeholders Relationship Committee

The composition of the Committee, terms of reference, details of meetings held during the financial year, and attendance of the Committee members are provided in the Corporate Governance Report, which forms the part of this Annual Report.

During the FY 2025-26, all recommendations made by the Committees of the Board, were duly considered and accepted by the Board of Directors.

DECLARATION FROM INDEPENDENT DIRECTORS

Your Company has received declarations from all Independent Directors confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Act read with the rules made thereunder and Regulation 16(1)(b) and Regulation 25(8) of the SEBI Listing Regulations. In accordance with the provisions of Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014, all Independent Directors of the Company have registered their names with the databank maintained by the Indian Institute of Corporate Affairs (IICA), wherever applicable. Also, the independent directors have complied with the Code for Independent Directors as prescribed in Schedule IV of the Act and have confirmed that they are in compliance with Code of Conduct for Board and the Senior Management Personnel adopted by the Company in accordance with SEBI Listing Regulations. Based on the declarations received and after undertaking due assessment of the veracity of such declarations, the Board is satisfied that all Independent Directors possess the requisite integrity, expertise, experience and proficiency and fulfil the conditions of independence specified under the Act and the SEBI Listing Regulations. The details including the meetings of the independent directors, familiarization programme etc. have been provided in the Corporate Governance Report, which forms part of this annual report.

MANAGERIAL REMUNERATION & PARTICULARS OF EMPLOYEES:

In compliance with Section 197(12) of the Companies Act, 2013, and Rules 5(1) to (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Annual Report includes detailed disclosures on managerial remuneration and employee compensation, presented in Annexure III .

SEPARATE MEETINGS OF INDEPENDENT DIRECTORS

As per Schedule IV of the Act, Secretarial Standards-1 (SS-1) read with the Guidance Note on SS-1 and SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, one meeting of Independent Directors of the Company was duly held on March 25, 2026 without the attendance of Non-Independent Directors and members of Management wherein the Independent Directors evaluated the performance of Non - Executive Directors, Executive Directors and Board as a whole. In addition, the Executive Directors of the Company provide regular updates of Business plan and strategies to Independent Directors, in detail, on a regular basis.

ANNUAL EVALUATION OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTORS

The Company has laid down a process for evaluation of the Board and Committees of Board as also evaluation of the performance of each of the Directors. The evaluation is conducted and monitored by the Chairperson, Nomination & Remuneration Committee (NRC) in consultation with the members of the committee. Each of the Directors are given a self-assessment Questionnaire, covering degree of fulfillment of their responsibilities, Board structure and composition, Responsibilities of Committee, effectiveness of the Board process, information and functioning, Board culture and dynamics, quality of relationship between the Board and Management etc.

Evaluation Process

a) The NRC approved a comprehensive evaluation questionnaire covering various aspects relating to the functioning and effectiveness of the Board, its Committees, Chairman and Individual Directors.

b) The evaluation was conducted using a rating scale ranging from 1 (strongly disagree) to 5 (strongly agree).

c) The Directors completed and submitted their evaluation responses, assessing the performance of the Board, its Committees, the Chairperson and individual Directors.

Outcome of Evaluation

Based on the performance evaluation carried out during the year, the Board is of the view that it functions effectively and continues to demonstrate a high level of commitment, engagement and oversight in discharging its responsibilities. The evaluation indicated that the Board, its committees and individual Directors are performing their respective roles efficiently and contributing meaningfully to the Companys governance framework. The Board remains committed to maintaining high standards of corporate governance and continuously enhancing its effectiveness in line with evolving business requirements and stakeholder expectations.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In terms of Regulation 34 of the SEBI Listing Regulations, Management Discussion and Analysis Report for FY 2025- 26, forms part of this Annual Report.

VIGIL MECHANISM / WHISTLE BLOWER POLICY.

Your Company is committed to maintaining the highest standards of integrity, transparency and ethical conduct in all its business activities. In compliance with the provisions of the Act and the SEBI Listing Regulations, the Company has established a Vigil Mechanism through its Vigil Mechanism/Whistle Blower Policy to provide Directors, employees and other stakeholders with an appropriate channel to report genuine concerns relating to unethical behaviour, actual or suspected fraud, violations of the Companys Code of Conduct, financial irregularities or any other improper practices. Further, the details of the Vigil Mechanism are provided in the Corporate Governance Report, which forms an integral part of this Annual Report.

DIRECTORS RESPONSIBILITY STATEMENT

In Compliance with section 134(5) of the Companies Act, 2013, the Board of Directors to the best of their knowledge and hereby confirm the following:

a) In the preparation of the Annual Accounts for the year ended March 31, 2026, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

b) Your directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2026 and of the Profit of the Company for the year ended on that date;

c) The directors had been taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) the annual accounts have been prepared on a going concern basis;

e) Your directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

f) The Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

Conservation of energy: Not applicable Technology absorption: Not applicable

Foreign exchange earnings and outgo: There was no foreign exchange inflow or Outflow during the year.

AUDITORS & AUDITORS REPORT

STATUTORY AUDITORS

Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the Rules made thereunder, the Statutory Auditors of the Company, M/s. V. N. Purohit & Co. (Firm Registration Number: 304040E) were appointed by the members of the Company in the Annual General Meeting (AGM) held on September 28, 2023 for a term of 5 (five) years to hold office till conclusion of the 12 th AGM of the Company to be held in the year 2028.

The Auditors Report on financial statements of the Company for FY 2025-26 forms part of this Annual Report. The reports are unmodified and do not contain any qualification, reservation, adverse remark or disclaimer of opinion and is self-explanatory and therefore, do not call for any further comments from the Board under Section 134(3)(f) of the Act.

SECRETARIAL AUDITORS

Pursuant to the provisions of Section 204 of the Act read with rules made thereunder and Regulation 24A of the SEBI

Listing Regulations, M/s, Nitin Bhardwaj and Associates, Practicing Company Secretaries (CP No: 24276 and Peer Review Certificate No. 6068/2024), were appointed as the Secretarial Auditor of the Company for a term of five (5) consecutive years, at the 9 th AGM of the Company commencing from the financial year 2025-26.

M/s, Nitin Bhardwaj and Associates conducted the Secretarial Audit of the Company for the financial year ended March 31, 2026 and the Secretarial Audit Report in Form MR-3 is annexed to this Boards Report as Annexure IV and forms an integral part of this Annual Report. The Secretarial Audit Report is self-explanatory and does not contain any qualification, reservation, adverse remark or disclaimer.

COST AUDITOR

Pursuant to the provisions of Section 148 of the Act read with Companies (Cost Records and Audit) Rules, 2014, the Board of Director of your Company had appointed M/s Raj Kaushik & Associates (FRN:100574) to conduct the Cost Audit of our Company for the financial year 2025-26.

Further in terms of Section 148 of the Act, the Company is required to maintain cost records and have the audit of its cost records conducted by a Cost Accountant. Cost records are prepared and maintained by the Company as required under Section 148(1) of the Act.

INTERNAL AUDITOR

During the financial year under review, M/s Garg & Kakkar and Co., Chartered Accountants, were appointed as Internal Auditors of the Company, to conduct the Internal Audit for the financial year 2025 26.

Findings and reports of Internal Auditors are reviewed by the Audit Committee about compliance with internal controls, the efficiency and effectiveness of operations as well as key process risks. The Audit Committee periodically reviews internal audit plans, significant audit findings and adequacy of internal controls.

REPORTING OF FRAUDS BY AUDITORS

During the year under review, no instance of fraud has been reported by any of the Auditors of the Company under Section 143(12) of the Companies Act 2013 to the Audit Committee/ Board of Directors or the Central Government. Therefore, no detail is required to be disclosed under Section 134(3) (ca) of the Companies Act.

RISK MANAGEMENT

The Board has developed appropriate framework and processes for identifying, assessing, and mitigating risk associated with the Company and developed procedures for reviewing managements action on implementation of the same. Major risks which in the opinion of the Board may threaten the existence of the Company are identified by the businesses and functions are systematically addressed through appropriate actions on a continuous basis, safeguarding the Company against those risks.

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

Internal Financial Controls are an integrated part of the risk management process, addressing financial and financial reporting risks. The internal financial controls have been embedded in the business processes and continuous monitoring of the internal financial control systems by the internal auditors during the course of their audits. We believe that these systems provide reasonable assurance that our internal financial controls are designed effectively and are operating as intended. To maintain its objectivity and independence, the Internal Audit function reports to the Chairman of the Audit Committee and the Managing Director of the Board . CORPORATE GOVERNANCE

Your Company remains committed to maintaining the highest standards of corporate governance and has complied with all applicable requirements prescribed under the Act and the SEBI Listing Regulations. The Company continues to conduct its affairs with integrity, transparency, accountability, fairness and responsibility, while fostering trust and confidence among its shareholders, employees, customers, suppliers and other stakeholders. The principles of good corporate governance remain embedded in the Companys business practices and decision-making processes. Pursuant to Regulation 34 of the SEBI Listing Regulations, a separate Report on Corporate Governance forms an integral part of this Annual Report. The Report includes a certificate issued by the Practicing Company Secretary confirming compliance with the conditions of Corporate Governance as prescribed under the SEBI Listing Regulations.

INFORMATION REQUIRED UNDER SEXUAL HARASSMENT OF WOMEN AT WORK PLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013

Your Company has always believed in providing a safe and harassment free workplace for every women employee working with your Company. Your Company always endeavors to create and provide an environment that is free from discrimination and harassment including sexual harassment. Your Company has zero tolerance for sexual harassment at workplace and, therefore, has in place a policy on prevention of sexual harassment at workplace.

During the year under review, detail regarding complaint against sexual harassment is as follow:

1. Number of complaints received	NIL
2. Number of complaints disposed off	NIL
3. Number of cases pending for more than 90 days	NIL

As on March 31, 2026, there were five (5) employees in the Company, detailed bifurcation thereof is as under: a. Female Employees in the Company: 0 b. Male Employees in the Company: 5 c. Transgender Employees in the Company: 0

MATERNITY BENEFIT

The Company affirms that it has duly complied with all provisions of the Maternity Benefit Act, 1961, and has extended all statutory benefits to eligible women employees during the year.

LISTING ON STOCK EXCHANGES

The equity shares of your Company are presently listed on BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE) and the annual listing fee for the year 2026-27 was paid within the scheduled time to BSE & NSE

COMPLIANCE WITH SECRETARIAL STANDARDS AND INDIAN ACCOUNTING STANDARDS

The Board of Directors affirms that during the Financial Year 2025-26, the Company has complied with the applicable Secretarial Standards issued by the Institute of Company Secretaries of India i.e. SS-1 and SS-2 relating to Meetings of the Board of Directors and General Meetings respectively and approved by the Central Government under Section 118(10) of the Companies Act, 2013. In the preparation of the Financial Statements, the Company has also applied the Indian Accounting Standards (Ind AS) specified under Section 133 of the Companies Act, 2013, read with Companies (Indian Accounting Standards) Rules, 2015.

CODE OF CONDUCT AND ETHICS

The Board of Directors of the Company has adopted a Code of Conduct and Ethics for the Directors and Senior Executives of the Company. The object of the Code is to conduct the Companys business ethically and with responsibility, integrity, fairness, transparency and honesty. The Code sets out a broad policy for ones conduct in dealing with the Company, fellow Directors and with the environment in which the Company operates of the Company and can be accessed at i.e https://goyalaluminiums.com/annual_return.php

GREEN INITIATIVE

As a responsible corporate citizen, the Company welcomes and supports the Green Initiative undertaken by the Ministry of Corporate Affairs, Government of India, and Securities & Exchange Board of India, in line with this your Company has implemented the Green Initiative to enable electronic delivery of notice and annual reports along with ancillary documents to the shareholders. Electronic copies of Annual Report of the financial year 2025 26 and the Notice of 10th Annual General Meeting are sent to all members whose email addresses are registered with the Company/ depository participant(s) as on the record date.

For members, who have not registered their e-mail addresses, please update your e-mail ids with your respective Depository Participants in order to contribute to above Green Initiative program. Pursuant to Section 108 of the Act read with relevant rules thereunder, your Company is providing e-voting facility to all members to enable them to cast their votes electronically on all resolutions set forth in the Notice of 10 th Annual General Meeting. The instructions for e-voting are provided in the Notice of the Annual General Meeting.

GENERAL DISCLOSURES

a) PUBLIC DEPOSITS: The Company during the FY 2025-26, did not accept any deposits from the public which is falling under the purview of Chapter V of the Act read with the Rule 8(5)(v) of Companies (Accounts) Rules, 2014.

b) ONE TIME SETTLEMENT : There was no instance of a one-time settlement entered into by the Company with any Bank or Financial Institution during the financial year under review.

c) REVISION IN FINANCIAL STATEMENT : During the period under review, there was no revision in the financial statements.

d) REMUNERATION AND COMMISSION FROM SUBSIDIARY : During the financial year under review, neither the Managing Director nor any Whole-time Director of the Company received any remuneration or commission from any of the Companys subsidiaries.

e) CHANGE IN NATURE OF BUSINESS : There was no change in the nature of the business of the Company during FY2025-26.

f) TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF): During the financial year under review, there were no amounts lying unpaid or unclaimed towards dividend or any other amounts required to be transferred to the Investor Education and Protection Fund (IEPF) pursuant to the provisions of Section 125(2) of the Act. Accordingly, no amount was transferred by the Company to the IEPF during the year under review.

g) APPLICATION/PROCEEDINGS PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 : No application was filed against the Company, nor were any proceedings pending under the Insolvency and Bankruptcy Code, 2016, as on March 31, 2026.

h) CORPORATE ACTION: During the FY 2025-26, the Company duly complied with all applicable statutory and regulatory requirements relating to corporate actions. There was no instance of any delay or failure in implementing corporate actions within the timelines prescribed under the applicable laws, regulations, and listing requirements.

i) DOWNSTREAM INVESTMENT COMPLIANCE: Pursuant to the applicable provisions of the Foreign Exchange Management Act, 1999 (FEMA) and the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (NDI Rules), the provisions relating to downstream investment are not applicable to the Company. Accordingly, the Company was not required to obtain any certification or reporting from its Statutory Auditors in this regard during the financial year under review.

j) EQUITY SHARES WITH DIFFERENTIAL VOTING RIGHTS AND SWEAT EQUITY SHARES: During the year under review, the Company has neither issued the equity shares with differential voting rights nor issued sweat equity shares in terms of the Act and the rules made thereunder. k) SIGNIFICANT OR MATERIAL ORDERS: No significant or material orders were passed by the Regulators or Courts or Tribunals, which impact the going concern status and Companys operations in future. l) EMPLOYEES STOCK OPTION SCHEME (ESOP): During the year under review, the Company has not issued the equity shares to their employee in terms of the Act and the rules made thereunder.

CAUTIONARY STATEMENT

The Boards Report and Management Discussion & Analysis may contain certain statements describing the Companys objectives, expectations or forecasts that appear to be forward looking within the meaning of applicable securities laws and regulations while actual outcomes may differ materially from what is expressed herein. The Company is not obliged to update any such forward looking statements. Some important factors that could influence the Companys operations comprise economic developments, pricing and demand and supply conditions in global and domestic markets, changes in government regulations, tax laws, litigation and industrial relation.

ACKNOWLEDGEMENT

Your Companys organizational culture is embedded and engrossed with professionalism, integrity and continuous improvement across all its functions.

The Board of Directors place on record, their sincere thanks to the shareholders and investors of the Company for the trust reposed in the Company over the past several years. Their involvements are greatly valued. The Directors look forward to your continuing support. Your directors would also like to express their appreciation for the assistance, guidance and co-operation provided by various government authorities, the banks/financial institutions, business associates, stock exchanges and other stakeholders such as members, customers, suppliers, and ancillary undertakings for their co-operation and assistance.

The Companys executives, staff and workers are instrumental in the Company scaling new heights year after year, and their commitment and contribution is deeply acknowledged. Shareholders involvements are greatly valued. The Directors look forward to your continuing support. The Board would like to reiterate its commitment to continue to build the organization into a truly world-class enterprise in all aspects.

For and on behalf of Board of Directors
Goyal Aluminiums Limited

SD/-	SD/-
(Sandeep Goyal)	(Kanchan Goyal)
Chairman, Managing Director & CFO	Director
DIN:07762515	DIN: 09597233

Date: September 07, 2026
Place: New Delhi