I Power Solutions India Ltd Directors Report

Dear Shareholders,

Your directors have pleasure in presenting the 41st Annual Report of M/S I POWER SOLUTIONS INDIA LIMITED along with the Audited Statement of Accounts and the Auditors Report for the Financial Year ended March 31, 2026. The Summarized financial results for the Financial Year are as under:

1. FINANCIAL SUMMARY:

(In Rupees)

Particulars	31st March, 2026	31st March, 2025
Revenue from Operation	-	-
Other Income	25,14,796	1,58,675
Total Revenue	25,14,796	1,58,675
Finance Charges	3,47,214	6,37,982
Profit Before Exceptional	(1,17,90,995)	(61,86,569)
Items And Tax
Add: Profit on Sale of	22,03,828
Developed Software
Profit Before	(95,87,167)	(61,86,569)
Depreciation and Tax
Provision for Depreciation	-	-
Net Profit Before Tax	(95,87,167)	(61,86,569)
Tax Expenses (Current & Deferred)	4,43,911	16,499
Net Profit After Tax	(1,00,31,078)	(62,03,068)
Transfer to General Reserve	-	-
Surplus/(Deficit) carried to Balance Sheet	(1,00,31,078)	(62,03,068)

2. PERFORMANCE AND STATE OF AFFAIRS OF THE COMPANY:

During the year under review, the Company has incurred net loss of Rs.1,00,31,078 The previous year net loss was Rs.62,03,068. There are no changes in the operations of business of the company. During the year under review there was no revenue from the operations of the Company.

3. SHARE CAPITAL:

The present paid up share capital of the company is Rs 5,89,90,000. During the year, the company has made preferential allotment of 14,50,000 (Fourteen Lakhs Fifty Thousand) Equity Shares, having face value of Rs.10/-(Rupees Ten Only) each at an issue price of Rs.20/- (including premium of Rs.10/-) (Rupees Ten Only) aggregating to 2,90,00,000/-. The proceeds of the Preferential Issue have been utilised by the Company towards funding its business operations, financing future growth and expansion opportunities, and meeting general corporate purposes, including working capital requirements and other purposes considered necessary and appropriate by the Board of Directors in the best interests of the Company.

4. DIVIDEND:

The Board of Directors did not recommend any dividend to the Shareholders for the financial year 2025-26.

5. DEPOSITS FROM PUBLIC:

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest and deposits from public was outstanding as on date of the balance sheet.

6. TRANSFER TO GENERAL RESERVE:

No transfer to General Reserve was made during the Year 2025-26 by the Company.

7. NUMBER OF MEETINGS OF THE BOARD AND BOARDS COMMITTEE:

The Board meets at regular intervals to discuss and decide on business strategies / policies and review the financial performance of the Company. The Board Meetings are pre-scheduled, and a tentative annual calendar of the

Board is circulated to the Directors well in advance to facilitate the Directors to plan their schedules.

Meeting	No. of Meetings during the Financial Year 2025-26	Date of the Meeting
Board Meeting	7	30.05.2025,12.06.2025, 13.08.2025, 26.08.2025,
		08.10.2025,14.11.2025,
		11.02.2026.
Audit Committee		30.05.2025,
	4	13.08.2025, 14.11.2025,
		11.2.26
Nomination & Remuneration Committee	2	13.08.2025, 14.11.2025
Stakeholders Relationship Committee	1	11.02.26
Independent Directors Meeting	1	11-02-2026

The interval between two Board Meetings was well within the maximum period mentioned under Section 173 of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

8. COMPOSITION OF COMMITTEES OF THE BOARD

Audit committee

Punukollu Kodanda Rambabu Independent Director (Chairman)

Naresh Kumar Bhatt - Independent Director

Sujata Jonnavittula - Independent Director

Rajendra Naniwadekar Promoter; Director

Nomination Remuneration committee

Punukollu Kodanda Rambabu Independent Director

Naresh Kumar Bhatt - Independent Director (Chairman)

Sujata Jonnavittula - Independent Director

Stakeholders Relationship committee

Punukollu Kodanda Rambabu Independent Director

Naresh Kumar Bhatt - Independent Director (Chairman)

Sujata Jonnavittula - Independent Director

Venugopalan Parandhaman - Director

9. DETAILS OF POLICIES DEVELOPED BY THE COMPANY:

The Company has the following policies which are applicable as per the Companies Act, 2013 and SEBI (LODR) Regulations, 2015 which are placed on the website of the Company www.ipwrs.com a Code of conduct for Directors and Senior Management http://www.ipwrs.com/Investors%20About%20us.php b Code of Conduct to Regulate, Monitor and Report Trading by Designated Persons

http://www.ipwrs.com/Investors%20About%20us.php

c Criteria of Making Payments to Non-Executive Directors http://www.ipwrs.com/Investors%20About%20us.php

d Policy Determining Materiality Disclosures http://www.ipwrs.com/Investors%20About%20us.php

e Nomination & Remuneration Committee Policy http://www.ipwrs.com/Investors%20About%20us.php f Policy on Related Party Transactions

http://www.ipwrs.com/Investors%20About%20us.php g Policy on sexual harassment of women at work place (Prevention, Prohibition and redressal) Act, 2013 http://www.ipwrs.com/Investors%20About%20us.php h Risk Management Policy http://www.ipwrs.com/Investors%20About%20us.php i Vigil Mechanism Policy http://www.ipwrs.com/Investors%20About%20us.php j Terms & Conditions of Appointment of Independent Director. http://www.ipwrs.com/Investors%20About%20us.php k Policy on Preservation of Documents & Archival. http://www.ipwrs.com/Investors%20About%20us.php l Policy on Material Subsidiaries. http://www.ipwrs.com/Investors%20About%20us.php m Board Familiarisation Policy. http://www.ipwrs.com/Investors%20About%20us.php

10. NOMINATION AND REMUNERATION POLICY:

Pursuant to Section 178(3) of the Companies Act, 2013, the Board of Directors has framed a policy which lays down a framework in relation to remuneration of Directors, Key Managerial Personnel and Senior Management of the company. The policy also lays down the criteria for selection and appointment of Board Members. The policy and details of Nomination and Remuneration is available on the website of the Company at www.ipwrs.com In accordance with the Nomination and Remuneration Policy, the Nomination and Remuneration Committee has, inter alia, the following responsibilities:

1. The Committee had formulated the criteria for determining qualifications, positive attributes, and independence of a director. and is available in the company website www.ipwrs.com The Committee shall identify persons who are qualified to become Director and persons who may be appointed in Key Managerial and Senior Management positions in accordance with the criteria laid down in this policy.

2. Recommend to the Board, appointment, and removal of Director, KMP and Senior Management Personnel.

3. The Board shall carry out evaluations of the performance of every Director, KMP and Senior Management Personnel at regular intervals (yearly).

4. The remuneration/ compensation/ commission etc. to the Managerial Personnel, KMP and Senior Management Personnel will be determined by the Committee and recommended to the Board for approval. The remuneration/ compensation/ commission etc. shall be subject to the prior/ post approval of the shareholders of the Company and Central Government, wherever required.

5. Increments to the existing remuneration/ compensation structure may be recommended by the Committee to the Board which should be within the slabs approved by the Shareholders in the case of Managerial Personnel.

6. Where any insurance is taken by the Company on behalf of its Managerial Personnel, Chie Executive Officer, Chief Financial Officer, the Company Secretary, and any other employees for indemnifying them against any liability, the premium paid on such insurance shall not be treated as part of the remuneration payable to any such personnel. Provided that if such person is proved to be guilty, the premium paid on such insurance shall be treated as part of the remuneration.

7. The Non-Executive/ Independent Director is not paid remuneration by way of fees for attending meetings of the Board or Committee thereof.

8. Commission to Non-Executive/ Independent Directors If proposed may be paid within the monetary limit approved by shareholders, subject to the limit not exceeding 1% of the net profits of the Company computed as per the applicable provisions of the Companies Act, 2013.

11. MATERIAL CHANGE AND COMMITMENTS OF THE COMPANY:

There were no material changes and commitments affecting the financial position of the company which have occurred between the end of the financial year of the company to which the financial statements relate and the date of the report.

12. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

The Company has made investments during the year in quoted securities amounting to 2,22,52,87. All requisite approvals under Section 186 of the Companies Act, 2013 have been duly obtained, and the necessary filings have been made with the regulatory authorities.

13. SUBSIDIARIES, ASSOCIATES AND JOINT VENTURE COMPANIES:

The Company has no subsidiaries/ associate companies/ joint ventures.

14. BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

The composition of the Board of Directors of the Company as on March 31, 2026 was in compliance with the applicable provisions of the Companies Act, 2013, including Section 149 thereof. The composition of the Board of Directors as on March 31, 2026 is set out below:

Name	Designation
Mr. Rajendra Naniwadekar	Managing Director
Mr. Venugopalan Parandhaman	Non-Executive Director
Mr. Punukollu Kodanda Rambabu	Independent Director
Mr. Naresh Kumar Bhatt	Independent Director
Ms. Sujata Jonnavittula	Woman Independent Director

Designation of Mr. Venugopalan Paradhaman was changed from Executive Director (ED) to Non-Executive Director (NED) at the Board Meeting held on August 28, 2026.

The composition of the Key Managerial Personnel (KMP) of the Company as on March 31, 2026 was in compliance with the applicable provisions of the Companies Act, 2013, including Section 203 thereof, and the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The details of the Key Managerial Personnel of the Company as on March 31, 2026 are set out below:

Name	Designation	Remarks
Mr. P.K. Raghukumar	Company Secretary	Resigned with effect from 13th
Mr. Suresh Srinivasan	Chief Financial Officer	March 2026
Mr. Anand Chenji	Chief Financial Officer	Appointed with effect from 13th August 2026

15.Directors / Key Managerial personal Appointment/Re-appointment:

Appointment of a director in place of Mr. Venugopalan Paradhaman (having DIN 00323551) who retires from office by rotation and being eligible offers himself for reappointment. Re-appointment of Mr. Rajendra Naniwadekar (DIN: 00032107) as Managing Director of the Company for a Further Term of Five (5) Consecutive Years. Re-appointment of Mr. Kodanda Ram Babu Punukollu (DIN: 00069047) as an Independent Director of the Company for a Second Term of Five (5) Consecutive Years.

Re-appointment of Mrs. J. Sujatha (DIN: 07014640) as an Independent Director of the Company for a Second Term of Five (5) Consecutive Years. Re-appointment of Mr. Naresh Kumar Bhatt (DIN: 00138618) as an Independent Director of the Company for a Second Term of Five (5) Consecutive Years.

16. BOARD DIVERSITY:

Since the Company falls under the exempted category as provided under Regulation 15 of Securities Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015 disclosure on Board diversity is not applicable.

17. PARTICULARS OF EMPLOYEES:

There are no employees falling within the provisions of section 197 of the Companies Act, 2013 read with Rule 5(2) and 5(3) of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

PARTICULARS OF REMUNERATION (Rule 5(1) Disclosure)

Ratio of Remuneration of Directors to Median Remuneration: Since Executive and Non-Executive Directors did not draw any remuneration during FY 2025 26 due to financial constraints, the ratio of remuneration of each Director to the median remuneration of employees is NIL / Not Applicable. Percentage Increase in Remuneration of KMPs:

Name of KMP	Designation	Remunerat ion FY 2025 26 ( )	Remuneratio n FY 2024 25 ( )	% Increase in Remuneratio n
Mr. P.K. Raghukum ar	Company Secretary	1,80,000	1,80,000	0.00% (No Change)
Mr. Suresh Srinivasan (resigned 13.03.2026)	Chief Financial Officer	4,80,000	4,80,000	0.00% (No Change)

Percentage Increase in Median Remuneration of Employees: 0.00% (No increase/change during the financial year). Number of Permanent Employees: 2 employees as on March 31, 2026. Affirmation: It is hereby affirmed that the remuneration paid to Key Managerial Personnel is as per the Nomination and Remuneration Policy of the Company.

18. AUDITORS:

M/s. ANANT RAO & MALLIK, Chartered Accountants, Hyderabad (Firm Registration No 006266 S) has been appointed as the statutory Auditor of the company at the 37th AGM held during the year 2022 for 5 years till the conclusion of 42nd AGM to be held in the year 2027. Accordingly, M/s. Anant Rao & Mallik will continue as the Statutory Auditors of the Company until the conclusion of the 42nd Annual General Meeting.

19. AUDITORS REPORT:

There are no qualifications, reservations or adverse remarks made by Statutory Auditors in their report for the Financial Year ended 31st March, 2026.

Management Explanation on CARO 2020 Remarks: With reference to the observation made in Paragraph 3(i) of Annexure A (CARO 2020) to the Independent Auditors Report regarding updating of Property, Plant and Equipment (PPE) records and physical verification, the Board clarifies as under: "All tangible Property, Plant and Equipment of the Company are fully depreciated and the process of updating full particulars in the fixed assets register is currently underway, and a comprehensive physical verification exercise is scheduled to be conducted during the Financial Year 2026 27."

20. SECRETARIAL AUDITOR:

M/s Lakshmmi Subramanian & Associates, Practicing Company Secretaries (Peer Review No.6608/2025), Chennai, as Secretarial Auditor for of the Company for a term of five years to hold office from the conclusion of 40th AGM held during 2024-25 till the conclusion of 45th Annual General Meeting to be hend during the year 2028-29. The Secretarial Audit Report as received from Secretarial uditor is annexed to this report as Annexure-I.

21. QUALIFICATION GIVEN BY SECRETARIAL AUDITOR:

There are no material qualifications in the Secretarial Audit Report for the year 2025-26.

22. REPORTING OF FRAUDS BY AUDITORS:

During the year under review, neither the Statutory Auditors nor the Secretarial Auditor has reported to the Audit Committee under Section 143 (12) of the Companies Act, 2013, any instances of fraud committed against the Company by its officers or employees.

23. INTERNAL AUDITORS

Mr. V. R. Sridharan, Chartered Accountant, has been re-appointed as the Internal Auditor of the Company for the financial year 2025-26. The Audit Committee determines the scope of the internal audit in line with the regulatory requirements and business operations of the Company.

24. COST AUDITOR:

Since the Company has no manufacturing activity at present, and the provisions of Appointment of Cost Auditor pursuant to the Companies Act, 2013 is not applicable, No Cost Auditor has been appointed by the Company during the year. Details of cost audit are not provided as the commercial operations are very limited and no cost audit is undertaken.

25. COST RECORD:

Pursuant to the provisions of Section 148(1) of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014, the provisions relating to maintenance of cost records are not applicable to the Company for the financial year under review. Accordingly, the Company is not required to maintain cost records under the said provisions.

26. INTERNAL CONTROL AND ITS ADEQUACY:

The Company has formulated a Framework on Internal Financial Controls In accordance with Rule 8 (5) (viii) of Companies (Accounts) Rules, 2014, the Company has adequate internal control systems to monitor business processes, financial reporting and compliance with applicable regulations and they are operating effectively. The systems are periodically reviewed by the Audit Committee of the Board for identification of deficiencies and necessary time-bound actions are taken to improve efficiency at all the levels. The Committee also reviews the observations forming part of internal auditors report, key issues and areas of improvement, significant processes and accounting policies.

27. CORPORATE GOVERNANCE REPORT:

Since your Companys paid-up Equity Capital Rs. 4,44,90,000, and Net worth Rs.3,48,14,013 is less than Rs. 10 Crores and Rs. 25 Crores respectively as on 31st March 2025, the provisions of SEBI (LODR), 2015 relating to Corporate Governance, is not applicable to the Company.

28. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS

OR COURTS:

There are no significant material orders passed by the Regulators / Courts which would impact the going concern status of the Company and its future operations.

29. SEPARATE MEETING OF THE INDEPENDENT DIRECTORS:

As required under Clause VII of Schedule IV of the Companies Act, 2013, the Independent Directors held a Meeting on 11th February 2026, without the attendance of Non-Independent Directors and members of Management.

30. FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS:

The Company has complied with the applicable requirements relating to the familiarisation of Independent Directors. The details of the familiarisation programmes undertaken by the Independent Directors are available on the Companys website.

31. INDEPENDENT DIRECTORS DECLARATION:

All Independent Directors have given declarations that they meet the Criteria of independence laid down under Section 149 of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure requirements) Regulations, 2015 in respect of financial year ended 31st March, 2026, which has been relied on by the Company and placed at the Board Meeting.

32. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

Pursuant to Regulation 34 (2) (e) of SEBI (LODR) Regulations, 2015, a report on Management Discussion & Analysis is herewith annexed as Annexure-II.

33. HUMAN RESOURCES:

The Management envisions trained and motivated employees as the backbone of the Company. Special attention is given to recruit trained and experienced personnel not only in the production department but also in marketing finance and accounts. The management strives to retain and improve employees morale. The Company is in the process of revamping the employer employee engagement program.

34. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND

FOREIGN EXCHANGE EARNINGS AND OUTGO:

The Company informs that the disclosure of particulars under section 134(3)(m) of the Companies act, 2013 read with Rule 8 (3) of Companies (Accounts) Rules, 2014 relating to conservation of Energy etc is not applicable to the Company as no energy intensive works are undertaken by the company. Particulars relating to Technology Absorption etc., have not been furnished as the Company has neither undertaken any Research & Development activities in the Field of operations nor imported any technology thereto. In respect of Foreign Exchange earnings and outgo (in US$), details are given below: Foreign Exchange Earnings: US$ - Nil / INR - Nil Foreign Exchange Outgo: US$ - Nil

35. RELATED PARTY TRANSACTIONS:

There are no related party transactions during the financial year under review under section 188 of the Companies Act 2013 except as mentioned in note number 21 of Audited Financial Statements and form AOC-2 as Annexure I.

36. EXTRACT OF ANNUAL RETURN:

The Submission of Extract of Annual Return in MGT-9 is dispensed with in terms of Companies (Management and Administration) Amendment rules, 2021 dated 5th March, 2021. Hence, the question of attaching MGT-9 with this report does not arise. However, the Annual return can be viewed in the website of the company www.ipwrs.com.

37. SECRETARIAL STANDARDS:

The Company has complied with the secretarial standards issued by the Institute of Company Secretaries of India, to the extent as applicable.

38. RISK MANAGEMENT POLICY:

The Company has well defined Risk Management Policy in place. The fact that the Risks and opportunities are inevitably intertwined, is well recognized policy by the Company and thus aims to identify, manage and minimize, risks, strategically. It is committed to embedding risk management throughout the organization and its systems and controls are designed to ensure that exposure to significant risk is properly managed. With the predefined risk management principles and policy, the Company identifies, categorizes, assess and addresses risks.

Key Elements of Risks:

(i) Global Economic Situation: The Economic environment around the world is showing sign of growth. Growth in the software industry has been fairly positive. (ii) Cost pressure: Increasing operating cost may create a pressure on margin. The Company is focusing to put up framework for cost management. (iii) Regulatory risks: Any Change in regulations in the field of our operations, would have an impact on the operations. The Company is vigilant on such changes for easy adaptability. (iv) Emerging Trend: New technologies and trends used in software industry may impact consumers behaviour. The Company continuously scan business environment for early detection of emerging trend.

39. PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE ["POSH"]:

The Company has adopted a policy for prevention of sexual harassment at the workplace, in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 ("POSH Act"). An Internal Complaints Committee ("ICC") has been duly constituted as per the provisions of the POSH Act to redress complaints regarding sexual harassment at the workplace. During the financial year under review, the Company has complied with all the provisions of the POSH Act and the rules framed thereunder. Further details are as follow:

Number of complaints of Sexual Harassment received in the Year	NIL
Number of Complaints disposed off during the year	NIL
C Number of cases pending for more than ninety days	NIL

40. INTERNAL COMPLAINTS COMMITTEE:

The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and Rules framed thereunder. Internal Complaints Committee ("ICC") is in place for all works and offices of the Company to redress complaints received regarding sexual harassment. The policy on Prohibition Prevention & Redressal of Sexual Harassment is available on the website of the Company at www.ipwrs.com During the Financial Year under review, no complaints with allegation of sexual harassment were filed with the ICC.

Internal Complaint Committee Members:

1. Mrs. Sujata Jonnavittula

2. Mr. Venugopalan Parandhaman

41. BOARD EVALUATION

Pursuant to the provision of the Companies Act, 2013, a structured questionnaire was prepared after taking into consideration of the various aspects of the Boards functioning, the composition of the Board and its committees, culture, execution and performance of specific duties, obligations, and governance. The board and the committee were evaluated on various criteria as stated below:

1. Composition of the Board and Committee.

2. Understanding of the Company and its business by the Board.

3. Availability of information to the board and committee.

4. Effective Conduct of Board and Committee Meetings.

5. Monitoring by the Board management effectiveness in implementing strategies, managing risks and achieving the goals. The Board also carried out the evaluation of directors and chairman based on following criteria:

1. Attendance of meetings.

2. Understanding and knowledge of the entity.

3. Maintaining Confidentiality of board discussion.

4. Contribution to the board by active participation.

5. Maintaining independent judgment in the decisions of the Board.

42. CODE OF CONDUCT FOR DIRECTORS AND SENIOR MANAGEMENT:

The Board of Directors has adopted a policy and procedure on Code of Conduct for the Board Members and employees of the Company in accordance with the SEBI (Prohibition of Insiders Trading) Regulations, 2015. This Code helps the Company to maintain the Standard of Business Ethics and ensure compliance with the legal requirements of the Company. The Code is aimed at preventing any wrong doing and promoting ethical conduct at the Board and by employees. The Compliance Officer is responsible to ensure adherence to the Code by all concerned. The Code lays down the standard of Conduct which is expected to be followed by the Directors and the designated employees in their business dealings and in particular on matters relating to integrity in the workplace, in business practices and in dealing with stakeholders. All the Board Members and the Senior Management Personnel have confirmed Compliance with the Code.

42. CORPORATE SOCIAL RESPONSIBILITY (CSR):

Pursuant to section 135 of the Companies Act, 2013, every company having net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore or more or a net profit of Rs. 5 crore or more during the financial year shall constitute a CSR Committee. Our Company has not triggered any of the above limits; hence, no committee in this has been constituted.

43. DIRECTORS RESPONSIBILITY STATEMENT

In pursuance of section 134 (5) of the Companies Act, 2013, the Directors hereby confirm that:

(a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; (b) the directors had 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 at the end of the financial year and of the profit and loss of the company for that period; (c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) the directors had prepared the annual accounts on a going concern basis; and (e) the directors, had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively. (f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively

44. DISCLOSURE REQUIREMENTS:

The Company has devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards issued by the Institute of Company Secretaries of India and is of the view that such systems are adequate and operating effectively.

45. LISTING WITH STOCK EXCHANGES:

Shares of the Company are listed on BSE and the Company confirms that it has paid the Annual Listing Fees for the year 2025-26.

46. CLOSURE OF REGISTER OF MEMBERS AND SHARE TRANSFER BOOKS:

The Register of Members and Share Transfer books of the company were closed with effect from Saturday, 20th September 2025 to Friday, 26th September 2025. (Both days inclusive).

47. VIGIL MECHANISM:

Pursuant to Section 177(9) of the Companies Act, 2013, your Company has established a Vigil Mechanism policy for directors and employees to report concerns about unethical behaviours, actual or suspected fraud, violations of Code of Conduct of the Company etc. The mechanism also provides for adequate safeguards against the victimization of employees who avail themselves of the mechanism and also provides for direct access by the Whistle Blower to the Audit Committee. It is affirmed that during the Financial Year 2025-26, no employee has been denied access to the Audit Committee. The vigil mechanism policy is also available on the Companys website www.ipwrs.com

48. APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE

INSOLVENCY AND BANKRUPTCY CODE, 2016 DURING THE YEAR:

There were no applications made nor any proceeding pending under the insolvency and bankruptcy code, 2016 during the year

49. MAJOR THINGS HAPPENED DURING THE YEAR WHICH MADE THE

IMPACT ON THE OVERALL WORKINGS OF THE COMPANY & THE MAJOR ACTIONS TAKEN BY THE COMPANY IN THAT RESPECT, SUCH AS COVID-19 PANDEMIC:

Nil

50. THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE

VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF:

During the year under review there was no instance of one-time settlement with any Bank or Financial Institution.

51. 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.

52. ACKNOWLEDGEMENT:

Your directors thank and acknowledge the continuous co-operation and assistance extended by Bank of Maharashtra, Indian Bank, BSE Limited, Cameo Corporate Services Ltd., our employees and the various customers who are patronizing our products.

53. CAUTIONARY STATEMENT:

The statements contained in the Boards Report and Management Discussion and Analysis Report contain certain statements relating to the future and therefore are forward looking within the meaning of applicable securities, laws and regulations. Various factors such as economic conditions, changes in government regulations, tax regime, other statues, market forces and other associated and incidental factors may however lead to variation in actual results.

Date: 28.08.2026		By Order of the Board
Place: Chennai		For I Power Solutions India Limited
	SD/-	SD/-
VENUGOPALAN PARANDHAMAN	Rajendra Naniwadekar
	Director	Managing Director
	DIN: 00323551	DIN:00032107