KSE Ltd Directors Report

Your Directors are pleased to present the 62nd Annual Report and the audited accounts for the financial year ended 31st March 2026.

Rs. in lakhs

	Year ended 31.03.2026	Year ended 31.03.2025
Revenue from Operations	1,68,048.33	1,64,952.80
Earnings Before Taxes, Finance Costs, Depreciation and
	12,464.56	12,825.82
Amortization
Less : Finance Costs	259.15	242.78
Less : Depreciation and Amortization expense	798.58	562.18
Profit Before Exceptional Item and Tax	11,406.83	12,020.86
Exceptional Item (Gain)/Loss	-	(250.75)
Profit Before Tax	11,406.83	12,271.61
Less : Tax Expense	3,002.80	3,140.88
Profit After Tax	8,404.03	9,130.73
Other Comprehensive Income (net of tax)	71.34	(19.93)
Total Comprehensive Income	8,475.37	9,110.80
Opening balance in Retained Earnings	13,316.21	6,125.41
Amount Available For Appropriation	21791.63	15,236.21
Dividend distributed during the year	3,200.00	1920.00
Closing Balance in Retained Earnings	18591.63	13,316.21

Dividend

Your Directors had declared and paid an interim dividend of 500% (Rs.5.0 per share of Rs.1.0 each) during the financial year 2025-26 after declaration of the unaudited financial results for the quarter ended 31st December, 2025. In addition to the interim dividend paid during the current financial year, your Directors recommend a final dividend of 750% (Rs.7.50 per share of Rs.1.0 each) for the year ended 31st March, 2026, subject to the approval of the shareholders at the ensuing Annual General Meeting.

The total dividend for the financial year 2025-26 aggregates to Rs.12.50 per share (1250%) on the equity shares of the Company. The total outflow on account of dividend, including interim and final dividend, shall be provided out of the profits of the Company for the year ended 31st March, 2026.

The dividend income will be taxable in the hands of shareholders and income-tax at source will be deducted by the Company from the dividend being paid to the shareholders at the prescribed rates in accordance with the provisions of the Income-tax Act, 1961.

The final dividend of Rs.7.50 per equity share of Rs.1.0 each as recommended by the Board of Directors of the Company at their meeting held on 19th May, 2026, if approved at the ensuing Annual General Meeting, will be paid to those shareholders whose names appear in the Register of Members of the Company and in the records of the Depositories as on the record date/book closure date to be determined and notified separately.

The Dividend Distribution Policy of the Company is available at https://www.kselimited.com/investors/ policies. The dividend payout for the financial year

2025 26 has been determined in accordance with the

Companys Dividend Distribution Policy and has been paid out of the profits of the Company, after considering its financial performance, liquidity position, and long-term growth objectives..

Unpaid Dividend

Pursuant to Section 124 and 125 of the Companies Act, 2013, the Company has transferred the unpaid or unclaimed dividend up to and including for the financial year 2016-2017 on respective due dates to the Investor

Education and Protection Fund administered by the Central Government.

As per the Investor Education and Protection Fund

Authority (Accounting, Audit, Transfer and Refund)

Rules, 2016, the Company has uploaded the details of the Unclaimed Dividends as on 31st March, 2026 relating to the financial years from 2017-2018, on the website of the IEPF (www.iepf.gov.in) and on the website of the Company at www.kselimited.com.

The dates of declaration of Dividend since final dividend for 2018-2019 and the corresponding dates when unclaimed dividends are due to be transferred to the Central Government are given in the following table:

Financial Year	Date of Declaration of Dividend	Last date for claiming unpaid dividend	Unclaimed amount as on 31st March 2026	Due date for Transfer to Investor Education and Protection Fund
2018-19 (Final)	31 August, 2019	30 August, 2026	261075.00	07 October 2026
2020-21 (Interim)	15 September, 2020	14 September, 2027	332444.02	22 October 2027
2019-20 (Final)	15 December, 2020	14 December, 2027	280309.00	21 January 2028
2020-21 (Final)	29 September, 2021	28 September, 2028	1514972.00	5 November 2028
2021-22 (Final)	27 August, 2022	26 August, 2029	527139.00	3 October, 2029
2022-23 (Final)	26 August, 2023	25 August, 2030	670157.00	2 October, 2030
2023-24 (Final)	03 September 2024	02 September 2031	2447043.00	10 October 2031
2024-25 (Interim)	12 February 2025	11 February 2032	1734397.00	21 March 2032
2024-25 (Final)	20 September 2026	29 September 2032	3588187.00	27 October 2032
2025-26 (Interim)	14 February 2026	13 February 2033	5012566.00	23 March 2033

Transfer To Reserves

During the year under review, the Company has not transferred any amount to the General Reserve. The entire profit for the year has been retained in the Statement of Profit and Loss under Retained Earnings.

Operating Results And Business

Operations

The Company has reported a profit of Rs.84.04 crores after tax for the year 2025-26, compared to a profit of Rs.91.30 crores in the previous year, 2024-25. During the year ended 31st March, 2026, Revenue from Operations registered a growth of 1.88%, amounting to Rs.1,680.48 crores as against Rs.1,649.53 crores in the previous year.

The profit before tax for FY 2025-26 stood at Rs.114.07 crores as against Rs.122.72 crores in FY 2024-25. The previous year figures included an exceptional gain of

Rs.2.51 crores representing insurance claim received towards flood-related damages. The strong profitability during FY 2025-26 was supported by improved operational efficiencies, favourable raw material price trends in certain segments and better contribution margins across major business divisions.

In the Animal Feed Division, the Company continued to face challenges arising from lower cattle population and competitive market conditions in Kerala. However, efficient procurement strategies, optimisation of input costs and improved product mix contributed to better operational performance during the year. The Company continued its focus on strengthening dealer network, improving market penetration and enhancing farmer engagement initiatives across key operating regions. The Oil Cake Processing Division witnessed favourable market conditions during the first three quarters of FY

2025-26, supported by firm prices and healthy demand for coconut oil and related products. These factors contributed to improved realisations and profitability during the period. However, changing market dynamics and margin pressures during the final quarter moderated the overall performance of the division. Nevertheless, the division recorded a satisfactory performance for the year under review and contributed positively to the Companys results.

The Dairy Division continued its efforts towards operational stabilisation and strengthening its market presence in Kerala and neighbouring regions. Despite improvements in selling prices and the implementation of cost optimisation measures, the dairy industry in the region experienced a challenging market environment during the year under review, which impacted the Divisions performance against planned targets.

The Ice Cream Division continued to strengthen the presence of the Vesta brand in the Kerala market through expansion of its distribution network, dealer base enhancement, product innovation and sustained brand-building initiatives. The Company also invested in visibility campaigns, freezer placements and consumer engagement programmes to improve market penetration. New product variants and premium offerings introduced during the year received an encouraging response from consumers.

The Company has undertaken a redefined strategic approach for the Dairy Division, and the benefits of these initiatives are expected to be realised progressively over the coming years.

More information relating to the operations of the Company has been furnished in the Management Discussion and Analysis Report attached to and forming part of this Report, as required under the SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2015.

Awards And Recognitions

During the financial year ended March 31, 2026, the Company did not receive any new awards or recognitions.

Number Of Meetings Of The Board

Seven meetings of the board were held during the year. For details of the meetings of the board, please refer to the corporate governance report, which forms part of this report.

Directors And Key Managerial

Personnel

Dr. Jose Paul Thaliyath (DIN 01773031), Mrs. Nina Paul (DIN: 08576074), Mr. Jose John (DIN: 01797056), Mr. K. Hari Kumar (DIN: 00388466) and Mr. Paul Jose (DIN: 01616504) are the Independent Directors of the Company.

The Independent Directors of the Company are not liable for retirement by rotation, as provided in Section 149 of the Companies Act, 2013. In accordance with Section

149 (7) of the Companies Act, 2013, the Company has received declarations from all the independent directors of the Company confirming that they meet the criteria of independence as prescribed under the Companies Act,

2013 and as per SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015.

All the above five independent directors of the Company had enrolled with Indian Institute of Corporate Affairs

(IICA) within the prescribed period and had cleared the online proficiency self-assessment test as provided by

Companies (Appointment and Qualification) Rules, 2019.

In the opinion of the Board of Directors, the independent directors have relevant proficiency, expertise, and experience.

In accordance with the provisions of the Companies Act, 2013 read with the Rules issued thereunder, the Listing Regulations and the Articles of Association of the Company, the Independent Directors, the Managing Director and Executive Director of the Company are not liable to retire by rotation.

Dr. Pyarelal K.C. (DIN: 00923913) and Ms. Danesa Raghulal (DIN: 07975553), Directors of the Company, retire by rotation at the ensuing Annual General Meeting in accordance with the provisions of the Companies Act, 2013 and the Articles of Association of the Company and, being eligible, offer themselves for re-appointment.

Mr. M.P. Jackson (DIN: 01889504), who served as the

Managing Director of the Company up to 31st March, 2026 and thereafter as Non-Executive Director, retires by rotation at the ensuing Annual General Meeting and has expressed his unwillingness to seek reappointment. Accordingly, he shall cease to be a Director of the Company upon conclusion of the ensuing Annual General Meeting. The Board places on record its deep appreciation for the valuable services, leadership and guidance rendered by Mr. M.P. Jackson during his long association with the Company, particularly during his tenure as Managing Director.

During the year under review, on the recommendation of the Nomination and Remuneration Committee and in compliance with the provisions of the Companies Act,

2013 and the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, the Board of Directors approved the appointment of Mr. Mampilly Paul Giji

(DIN: 01688499) and Mrs. Suja Davis (DIN: 11213213) as

Directors of the Company, subject to the approval of the shareholders at the ensuing Annual General Meeting, the relevant resolutions and explanatory statements whereof form part of the Notice of the Annual General Meeting. The Board further acknowledged the voluntary retirement of Mr. Shaji P. Jacob from the office of Director and recorded its sincere appreciation for his services and contributions to the Company. The resultant changes in the composition of the Board were duly noted and approved to ensure smooth transition and continuity in governance.

Mr. Dony Akkarakaran George (DIN: 09211623) was appointed as the Managing Director of the Company for a period of three years with effect from 1st June 2026, on the recommendation of the Nomination and Remuneration Committee and approval of the Board of Directors, subject to the approval of the shareholders at the ensuing Annual General Meeting. Mr. Dony Akkarakaran George is a graduate in Physics and holds a professional degree in Law with a specialization in Labour Law, and brings with him over three decades of extensive experience in marketing, sales, procurement and strategic business development across multiple sectors and geographies, having commenced his career in marketing with KSE Limited in 1992 and subsequently held senior roles in reputed organisations including KERAFED and MARDEC BERHAD, Malaysia, where he managed large-scale domestic and international operations in the rubber and edible oil sectors, and currently serves as General Manager at Joseph Rubbers Private Limited while also providing consultancy services to UNPA Rubbers and Beroe Inc., USA. The Board is of the view that his induction into the executive management will significantly strengthen the Companys operational effectiveness and contribute to its long-term growth and market expansion initiatives, and accordingly the relevant resolution together with the explanatory statement as required under Section 102 of the Companies Act, 2013 forms part of the Notice of the ensuing Annual General Meeting.

Mr. Paul Francis (DIN: 00382797), who has been serving as the Executive Director of the Company since 1st October 2021, is due to complete his present term of office on 30th September 2026. The Nomination and

Remuneration Committee, at its meeting held on 8th

June 2026, reviewed his performance, expertise and overall contribution to the affairs of the Company and recommended his re-appointment as Executive Director for a further period of three (3) years with effect from 1st

October 2026 to 30th September 2029, along with the remuneration payable to him. The Board of Directors, on therecommendationoftheNominationandRemuneration Committee, noting his extensive experience in the feed manufacturing industry and his significant contributions towards production management, operational efficiency, business development and the overall growth of the Company during his tenure, approved his re-appointment and the remuneration recommended by the Nomination and Remuneration Committee, in accordance with the applicable provisions of the Companies Act, 2013 and the

SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, subject to the approval of the shareholders at the ensuing Annual General Meeting, the relevant resolution and explanatory statement whereof form part of the Notice of the Annual General Meeting. Mr. Senthil Kumar Nallamuthu, Chief Financial Officer, and Ms. Srividya Damodaran, Company Secretary are the Key Managerial Personnel of your Company in accordance with the provisions of Sections 2(51) and 203 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

Policy On Directors Appointment And Remuneration And Other

Details

Remuneration policy in the Company is designed to create a high-performance culture. It enables the Company to attract, retain and motivate employees to achieve results. The Company pays remuneration by way of salary, benefits, perquisites and allowances to its Managing Director and the Executive Director. Currently, the sitting fees payable to the non-executive directors is Rs.60,000 per meeting of the Board and Rs. 25,000 per meeting of committees of the Board attended by them. The Nomination and Remuneration Policy for the Members of Board and Executive Management can be accessed on the Companys website at the link: https:// www.kselimited.com/investors/policies.

Evaluation Of Board, Committees And Individual Directors

The Company has devised a Policy for performance evaluation of Independent and other directors, Board as a whole and Committees thereof which include criteria for performance evaluation of the executive and non-executive directors. The Policy for evaluation of performance of the Board of Directors can be accessed on the Companys website at the link: https://www. kselimited.com/investors/policies.

In terms of provisions of the Companies Act, 2013 read with Rules issued thereunder and as per SEBI

(Listing Obligations and Disclosure Requirements)

Regulations, 2015, the Board of Directors have evaluated the effectiveness of the Board during the financial year ended 31st March, 2026. The evaluation was based on questionnaire and feedback from all the

Directors on the Board as a whole, Committees and self-evaluation. Directors, who were designated, held separate discussions with each of the Directors of the Company and obtained their feedback on overall Board effectiveness as well as each of the other Directors. The evaluation of the Directors was based on various aspects which, inter alia, included the level of participation in the Board Meetings, understanding of their roles and responsibilities, business of the Company along with the environment and effectiveness of their contribution. A separate meeting of the independent directors was convened, which reviewed the performance of the Board (as a whole), the non-independent directors and the Chairman.

Internal Financial Control Systems

And Their Adequacy

Adequate internal financial controls are in place with reference to the financial statements. Internal financial control systems of the Company have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information, complying with applicable Accounting Standards. Such controls were tested annually and during the year no reportable material weakness in the design or operation were observed. The details in respect of internal financial control and their adequacy are included in the Management Discussion and Analysis, which forms part of this report.

Risk Management

Your Company recognizes that risk is an integral part of business and is committed to managing the risks in a proactive and efficient manner. Your Company periodically assesses risks in the internal and external environment, along with the cost of treating risks and incorporates risk treatment plans in its strategy, business and operational plans. The Board members are informed about the risk assessment and minimization procedures. The Board is responsible for framing, implementing and monitoring the risk management plan for the company. The Company manages, monitors and reports on the principal risks and uncertainties that can impact its ability to achieve its strategic objectives. The Companys management systems, organizational structures, processes, standards, code of conduct and behaviours together govern the business of the Company and manage associated risks.

There are no risks which in the opinion of the Board threaten the existence of your Company. However, some of the risks which may pose challenges are set out in the Management Discussion and Analysis which forms part of this Report.

Vigil Mechanism

Your Company believes in the conduct of the affairs of its constituents in a fair and transparent manner by adopting highest standards of professionalism, honesty, integrity and ethical behaviour. The Company is committed to develop a culture where it is safe for all employees to raise concerns about any poor or unacceptable practice and any event of misconduct. Accordingly, the Board of Directors have formulated a Whistle Blower Policy which is in compliance with the provisions of Section 177 (10) of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The policy provides for a framework and process whereby concerns can be raised by its employees against any kind of discrimination, harassment, victimization or any other unfair practice being adopted against them. More details on the vigil mechanism and the Whistle Blower Policy of your Company have been outlined in the Corporate Governance Report which forms part of this report. The KSEL Whistle Blower Policy and Vigil Mechanism can be accessed on the Companys website at the link : https:// www.kselimited.com/investors/policies.

Directors Responsibility Statement

Pursuant to Section 134(3)(c) of the Companies Act,

2013, the Directors confirm that:

1. in the preparation of the annual accounts for the financial year ended 31st March, 2026, the applicable accounting standards and Schedule III of the Companies Act, 2013, have been followed and there are no material departures from the same; 2. the 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 your Company as at 31st March, 2026 and of the profit of the Company for the financial year ended 31st March, 2026; 3. proper and sufficient care has been taken 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; 4. the annual accounts have been prepared on a going concern basis; 5. proper internal financial controls laid down by the Directors were followed by the Company and that such internal financial controls are adequate and were operating effectively; and

6. proper systems to ensure compliance with the provisions of all applicable laws were in place and that such systems were adequate and operating effectively.

Corporate Governance

Corporate Governance Report, Management Discussion and Analysis Report and Certificate from Auditors on Corporate Governance have been furnished separately and form part of this report. The disclosures made in these reports may be considered as compliance of various disclosures prescribed under the Companies Act, 2013 and Rules made thereunder.

Corporate Social Responsibility

The Corporate Social Responsibility (CSR) Committee has been formed in conformity with Section 135 of the Companies Act, 2013 read with the Companies

(Corporate Social Responsibility Policy) Rules, 2014. The composition, terms of reference and attendance details of the CSR Committee are incorporated in the Corporate Governance Report. The Annual Report on CSR activities for the year ended 31st March, 2026 is given separately as Annexure A, forming part of this Report.

Public Deposits

Your Company is accepting deposits as per the provisions of Sections 73 and 76 of the Companies Act, 2013 read together with the Companies (Acceptance of Deposits)

Rules, 2014. The details relating to such deposits as provided under Rule 8 of the Companies (Accounts)

Rules, 2014 are provided in Annexure B.

The Company is not accepting any other deposits which are not in compliance with the requirements of Chapter V of the Companies Act, 2013.

Particulars Of Loans, Guarantees

And Investments

The particulars of loans, guarantees and investments have been disclosed in the financial statements.

Transactions With Related Parties

All contracts/arrangements/transactions entered by the Company during the financial year with related parties were in the ordinary course of business and on an arms length basis. During the year, the Company had not entered into any contract/arrangement/ transaction with related parties which could be considered material in accordance with the policy of the Company on materiality of related party transactions. None of the transactions with related parties falls under the scope of Section 188(1) of the Companies Act, 2013 (the Act ).

Full disclosure of related party transactions as per Accounting Standard Ind AS 24 issued by the Ministry of Corporate Affairs is given under Note No. 36.25 of Notes to the Annual Accounts.

The policy and procedures on related party transaction as approved by the Board may be accessed on the Companys website at the link: https://www.kselimited. com/investors/policies. Information on transactions with related parties pursuant to Section 134(3)(h) of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014 are given in Annexure C in Form AOC-2 and the same forms part ofthis report.

Annual Return

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the Annual Return as on 31st March, 2026 is available on the website of the Company at https:// www.kselimited.com/investors/financeinfo.

Statutory Auditors

M/s. Sridhar & Co. (ICAI Firm Registration No. 003978S) were re-appointed as the Statutory Auditors of the Company at the 61st Annual General Meeting held in the year 2025, for a second term of five consecutive years commencing from the conclusion of the 61st AGM until the conclusion of the 66th AGM, to conduct the audit of the financial statements of the Company for the financial years 2025 26 to 2029 30.

Accordingly, M/s. Sridhar & Co. continue as the Statutory

Auditors of the Company for the financial year 2025 26.

The Auditors have confirmed that they continue to satisfy the eligibility criteria and independence requirements prescribed under Sections 139 and 141 of the Companies Act, 2013 and the applicable Rules framed thereunder. The Statutory Auditors Report for the financial year ended 31st March, 2026 does not contain any qualification, reservation, adverse remark or disclaimer. The observations made in the Auditors Report read together with the relevant notes forming part of the financial statements are self-explanatory and therefore do not call for any further comments under Section 134 of the Companies Act, 2013.

Cost Auditors

With the prior approval of Central Government, M/s.

BBS & Associates, Cost Accountants, Ernakulam (Firm registration number 000273) have been appointed as Cost Auditors for the financial year 2025-26 and they will be submitting their Cost Audit Report within the time limit stipulated. The Board of Directors of the Company, on the recommendations made by the Audit Committee, has reappointed, M/s. BBS & Associates,

Cost Accountants, Ernakulam (Firm registration number 000273) as the Cost Auditor of the Company to conduct the audit of cost records for the financial year 2026-

2027. The Remuneration proposed to be paid to the Cost Auditor, subject to ratification by shareholders of the Company at the ensuing 62nd Annual General Meeting, has been fixed at Rs. 2,25,000 plus GST and out of pocket expenses. The Company has received consent from M/s. BBS & Associates, Cost Accountants, Ernakulam, Cost Accountants, to act as the Cost Auditor for conducting audit of the cost records for the financial year 2026-27, along with certificate confirming their independence and arms length relationship.

Secretarial Audit

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with the Companies

(Appointment and Remuneration of Managerial

Personnel) Rules, 2014 and Regulation 24A of the SEBI

(Listing Obligations and Disclosure Requirements)

Regulations, 2015, M/s. CaesarPintoJohn & Associates LLP, Company Secretaries, conducted the Secretarial Audit of the Company for the financial year ended March 31, 2026. The Secretarial Audit Report issued by them is annexed to this Report as Annexure D.

The Secretarial Audit Report contains an observation relating to the sub-division of equity shares of the Company. The details of the observation and the Managements response thereto are provided below:

Observation made by the Secretarial Auditor:

The Company had obtained shareholders approval by way of Ordinary Resolution at the Annual General Meeting held on September 20, 2025, for sub-division of its equity shares from Rs.10 each into 10 equity shares of Re.1 each pursuant to Section 61 of the Companies Act, 2013. The sub-division was subsequently implemented and the corresponding corporate actions were completed. However, it was observed that the Articles of Association of the Company were not amended prior to giving effect to the said sub-division.

Managements Response

TheCompanyacknowledgestheobservationmadebythe Secretarial Auditor. The omission relating to amendment of the Articles of Association prior to implementation of the sub-division was noted and necessary corrective measures have been initiated. The Company has placed before the shareholders, for their approval at the ensuing Annual General Meeting scheduled to be held on August 29, 2026, a proposal for adoption of a new set of Articles of Association in conformity with the provisions of the Companies Act, 2013, thereby replacing the existing Articles of Association in entirety.

M/s. CaesarPintoJohn & Associates LLP, Company Secretaries, continue to act as the Secretarial Auditors of the Company for the remaining period of their five-year term commencing from April 1, 2025 , and ending on March 31, 2030.

Cost Records

The Company is required to maintain cost records as specified by the Central Government under sub-section

(1) of section 148 of the Companies Act, 2013, for certain areas of its operations (Edible Oil and Power Generation) and accordingly accounts and records required to get true and fair view of the cost of production of products, cost of sales, margin and other information relating to products under reference, are made and maintained by the Company.

Disclosure as per Sexual Harassment of Women at

Workplace (Prevention, Prohibition and Redressal) Act, 2013

The Company has zero tolerance for sexual harassment at workplace. The company has complied with the provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. During the financial year 2025-26, the Company has not received any complaint on sexual harassment and no complaint remains pending as of 31st March, 2026. The details relating to the number of complaints received and disposed of during the financial year 2025-2026 are as under:

1. Number of complaints filed during the financial year: Nil

2. Number of complaints disposed of during the financial year: Nil

3. Number of complaints pending as on end of the financial year: Nil

Disclosure Relating To Remuneration Of Directors,

Key Managerial Personnel And

Particulars Of Employees

The information required under Section 197 of the Companies Act, 2013 and rules made there-under, in respect of employees of the Company, is provided in Annexure E forming part of this report. None of the employees are in receipt of remuneration in excess of the limits specified under clause (2) of Rule 5 of the Companies (Appointment and Remuneration of

Managerial Personnel) Rules, 2014.

Energy Conservation, Technology

Absorption And Foreign Exchange Earnings And Outgo

The particulars as prescribed under Rule 8(3) of the Companies (Accounts) Rules, 2014, are set out in

Annexure F to this Report.

Capital Expenditure

During FY 2025 26, the Company continued to invest in capacity enhancement and operational efficiency across its cattle feed and dairy businesses.

In the cattle feed segment, an Automatic Batching

System costing Rs.548.48 lakhs was capitalised at the Swaminathapuram Cattle Feed Plant in Tamil Nadu to improve process efficiency and accuracy. A new

Hammer Mill with an investment of Rs.95.78 lakhs was commissioned at the Vedagiri Cattle Feed Plant in Kerala. Further, Molasses Storage Tank was also capitalised at the Irinjalakuda Cattle Feed Unit in Kerala at a cost of Rs.47.13 lakhs, strengthening raw material handling and storage infrastructure.

In the dairy segment, a new Ice Cream Cup and Cone Filling Machine costing Rs.27.23 lakhs was commissioned at the Konikkara Unit, Kerala, while a Cold Room Container costing Rs.16.21 lakhs was capitalised at the Thalayuth Unit, Tamil Nadu to augment storage capacity and support efficient cold chain management.

The Company is also constructing a 30,000 sq. ft. warehouse at its Irinjalakuda Cattle Feed Facility in Kerala. As of March 31, 2026, expenditure amounting to Rs.240.55 lakhs had been incurred on the project, which is expected to be completed and capitalised during the next financial year.

Other Disclosures

No disclosure is made in respect of the following items as there were no events during the year calling for reporting on these items:

1. There was no issue of equity shares with differential rights as to dividend, voting or otherwise.

2. There was no issue of shares (including sweat equity shares and ESOP) to employees of the Company under any scheme.

3. Your Company does not have any subsidiary, associate, joint venture company or holding company and disclosures required in that respect were not dealt with.

4. 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.

5. No frauds have been reported by auditors to the

Audit Committee or Board under Sub-section (12) of

Section 143 of the Companies Act, 2013.

6. There are no material changes or commitments affecting the financial position of the Company which have occurred between the end of the financial year under report and the date of this report.

7. The details of application made or any proceeding pending under the Insolvency and Bankruptcy

Code, 2016 (31 of 2016) during the year alongwith their status as at the end of the financial year Not

Applicable

8. 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 Not Applicable

Acknowledgement

The Board of Directors places on record its sincere appreciation for the continued support and cooperation received from all stakeholders, including the shareholders, bankers-especially ICICI Bank, Registrars and Share Transfer Agents, customers, distributors, and suppliers. The Board also expresses its deep appreciation for the dedicated and committed services rendered by the executives, staff, and workers of the Company, whose contributions have been instrumental in the Companys performance and progress during the year.

	By Order of the Board
	For KSE Limited
Irinjalakuda,	Mr. Tom Jose
June 2026	Chairman (DIN: 01971467)