Maxvolt Energy Industries Ltd Directors Report

To,

The Members,

MAXVOLT ENERGY INDUSTRIES LIMITED

The Board of Directors of the Company have great pleasure in presenting the 7th Board s Report of the Company together with Audited Financial Results for the year ended March 31, 2026. This report states compliance as per the requirements of the Companies Act, 2013 ( the Act ), the Secretarial Standards, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ) and other rules and regulations as applicable to the Company.

STANDALONE FINANCIAL PERFORMANCE:

The highlight of the financial performance of the Company for the year ended March 31, 2026 is summarized as follows:

Particulars	2025-2026	2024-2025
Revenue from Operations	29676.48	10746.62
Other Income	180.44	181.64
Total Income	29856.93	10928.26
Employee Benefit Expenses	980.58	421.25
Financial Cost	347.41	125.88
Depreciation and amortisation ex- penses	111.38	57.06
Other Expenses	966.63	327.25
Total Expenses	26574.14	9535.63
Profit/(Loss) before Tax	3282.79	1392.63
Less: Exceptional items	-	-
Profit/(Loss) before Tax	3282.79	1392.63
Current Tax	832.73	380.68
Deferred Tax	11.58	0.28
Profit/(Loss) after tax	2438.47	1011.67
Other Comprehensive income/ (cost) for the financial year	-	-
Total Comprehensive income/(loss) for the financial year	2438.47	1011.67
Earnings per Equity Share
(1)Basic	22.36	11.69
(2)Diluted	22.36	11.69

CONSOLIDATED FINANCIAL PERFORMANCE:

The highlight of the financial performance of the Company for the year ended March 31, 2026 is summarized as follows:

Particulars	2025-2026	2024-2025
Revenue from Operations	29676.48	10746.62
Other Income	180.44	181.64
Total Income	29856.93	10928.26
Employee Benefit Expenses	980.58	421.25
Financial Cost	347.41	125.88
Depreciation and amortisation expenses	111.38	57.06
Other Expenses	967.62	327.25
Total Expenses	26575.17	9535.63
Profit/(Loss) before Tax	3281.76	1392.63
Less: Exceptional items	-	-
Profit/(Loss) before Tax	3281.76	1392.63
Current Tax	832.73	380.68
Deferred Tax	11.49	0.28
Profit/(Loss) after tax	2437.53	1011.67
Other Comprehensive income/ (cost) for the financial year	-	-
Total Comprehensive income/(loss) for the financial year	2437.53	1011.67
Earnings per Equity Share
(1)Basic	22.35	11.69
(2)Diluted	22.36	11.69

BUSINESS OVERVIEW

Our Company is engaged in the business of Manufacturing of lithium ion two wheeler, three wheeler batteries, inverter batteries, medical equipment batteries, energy storage systems, etc.

FINANCIAL PERFORMANCE OVERVIEW:

During the year under review, the Company has earned a total revenue of Rs. 29,676.50 Lakhs for the year ended March 31, 2026 as against Rs. 10,746.60 Lakhs in the previous financial year. The Company has recorded a profit (PBT) of Rs. 3,281.80 Lakhs for the year ended March 31, 2026 as compared to Rs. 1,392.60 Lakhs in the previous financial year. The Profit/ (Loss) after Tax (PAT) for the year ended March 31, 2026 increased drastically and stood at Rs. 2,437.50 Lakhs as compared to Rs. 1,011.70 Lakhs in the previous financial year.

DIVIDEND/ TRANSFER TO RESERVES:

The Dividend policy for the year under review has been formulated and taking into consideration of growth of the Company and to conserve resources, the Directors do not recommend any Dividend for the year ended March 31, 2026. Your Company has not transferred the profits for year ended March 31, 2026 to Reserves and Surplus.

MATERIAL CHANGES AND COMMITMENTS BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENT RELATE AND THE DATE OF THIS REPORT:

The Company s shares are listed on NSE Emerge platform with ISIN INE10A501018 & symbol MAXVOLT w.e.f. 19th February, 2025.

DEPOSITS:

The Company has neither accepted nor renewed any deposits falling within the purview of Section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules 2014 as amended from time to time, during the year under review.

CHANGE IN THE NATURE OF BUSINESS:

There has been no change in the Business of the Company during the financial year ended March 31, 2026.

CAPITAL STRUCTURE:

During the year under review, the Company had successfully come out with its Preferential Issue of Warrants. The issue consisted of 9,61,822 warrants each convertible into Equity Shares at each at an issue price of Rs. 440/- (Rupees four hundred and forty only) per warrant each convertible into, or exchangeable for, 1(one) fully paid-up equity share of the company having a face value of Rs. 10/- (Rupees ten only) at a premium of Rs. 430/- (Rupees four hundred and thirty only) aggregating upto Rs. 42,32,01,680/- (Rupees Forty two crores thirty two lakhs one thousand six hundred and eighty only), on preferential basis. The Company received the overwhelming response for the said issue and the company received an IP Approval from NSE on February 16, 2026. After receiving the same, the company allotted 9,61,822 warrants to a member of promoter group and non promoter pursuant to receiving 25% of the consideration upfront on February 27, 2026. Once the company receives the remaining 75% consideration within 18 months from allotment, the fully diluted paid up share capital will be Rs. 11,86,57,500. AUTHORIZED SHARE CAPITAL: The Authorized Share Capital of the Company as on March 31, 2026 is Rs. 10,90,39,280/- (Rupees Ten crore ninety lakhs thirty nine thousand two hundred and eighty only) divided into 1,09,03,928 Equity shares of Rs. 10/- each fully paid-up.

ISSUED AND PAID-UP CAPITAL:

During the year under review, the Company has made an allotment of 9,61,822 warrants to a member of promoter group and non promoter pursuant to receiving 25% of the consideration upfront on February 27, 2026 at an issue price of Rs. 440/- (Rupees four hundred and forty only) per warrant each convertible into, or exchangeable for, 1(one) fully paid-up equity share of the company having a face value of Rs. 10/- (Rupees ten only) at a premium of Rs. 430/- (Rupees four hundred and thirty only) pursuant to Preferential issue of warrants of Company. As on March 31, 2026 the paid-up Equity Share Capital was Rs. 10,90,39,280/- divided into 1,09,03,928 Equity Shares of Rs. 10/- each. The diluted paid up share capital post conversion of these warrants into shares will be Rs. 11,86,57,500/- divided into 1,18,65,750 Equity Shares of Rs. 10/- each. The company has brought in ESOP Scheme during the year- MEIL ESOP 2025 with a pool of 8,20,726 (Eight lakhs twenty thousand seven hundred and twenty six) Employee Stock Options convertible in to not more than 8,20,726 (Eight lakhs twenty thousand seven hundred and twenty six) Shares having a face value of Rs. 10/- (Rupees Ten Only). The details of the same are attached in Annexure-G. The company received its in-principle approval for the scheme on July 31, 2026 and has not yet granted or allotted any options under the scheme during the year.

DISCLOSURES RELATING TO HOLDING, SUBSIDIARY, ASSOCIATE COMPANY, AND JOINT VENTURES:

As on March 31, 2026 the Company has no Holding, Associate Company, and Joint Venture, except following 1 (One) Subsidiary Company:

Sr. No. Name of Company	CIN/ GIN	Type	% of Share Holding	Applicable Section
1. MAXVOLT REEARTH PRIVATE LIMITED	U38220UP2026PTC241113	Subsidiary	75%	2(87)

MAXVOLT REEARTH PRIVATE LIMITED, a subsidiary company of the Company has been incorporated on January 13, 2026 at India under the Companies Act, 2013. The Company has subscribed 3,75,000 Equity shares of Rs. 10/- each. The main object of the incorporated company is carry on the business of recycling, recovery, reprocessing, refurbishment, treatment, disposal and management of used, scrap, end-of-life and waste batteries, including but not limited to lithium-ion batteries, lead-acid batteries, electric vehicle batteries, energy storage batteries and other advanced battery chemistries, and to extract, recover, refine, process and deal in lithium, lead and other metals, minerals and materials contained therein. Pursuant to first proviso to subsection (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014 a statement containing salient features of the financial statement of subsidiaries or associate companies or Joint ventures in Form AOC- 1 is annexed and marked as Annexure-A1.

STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS:

Pursuant to the provisions of sub-section (7) of Section 149 of the Companies Act, 2013, the Company has received individual declarations from all the Independent Directors confirming that they fulfil the criteria of Independence as specified in Section 149(6) of the Companies Act, 2013. The Independent Director have complied with the Code of Conduct for Independent Directors prescribed in Schedule IV of the Act. In view of the available time limit, those Independent Director who are required to undertake the online proficiency self-assessment test as contemplated under Rule 6(4) of the Companies (Appointment and Qualification of Directors) Rules, 2014, had committed to perform the test within time limit stipulated under the act. The Company has received declarations from all Independent Directors of the Company confirming that they continue to meet the criteria of Independence as prescribed under Section 149 of the Companies Act 2013.

LISTING OF SHARES:

The Company s shares are listed on NSE Emerge platform with ISIN INE10A501018 & symbol MAXVOLT w.e.f. 19th February, 2025.

DIRECTORS & KEY MANAGERIAL PERSONNEL:

The composition of Board of Directors and Key Managerial Personnel (KMP) of the Company as on March 31, 2026 were as follows:

Sr.no Name of Director	Designation
1 VISHAL GUPTA	Whole time director & Chairman
2 BHUVNESHWARPAL SINGH	Managing Director & Chief Financial Officer
3 SATENDRA SHUKLA	Chief Executive Officer
4 AMISHA SWAIN	Company Secretary & Compliance Officer
5 AJAY KUMAR	Non-Executive Independent Director
6 PREET KUMAR	Non-Executive Independent Director
7 KAVITA DIXIT	Non-Executive Independent Director

BOARD AND COMMITTEE MEETING:

Number of Board Meetings

The Board of Directors met 6 times during the financial year ended March 31, 2026 in accordance with the provisions of the Companies Act, 2013 and rules made there under. The intervening gap between two Board Meeting was within the period prescribed under the Companies Act, 2013 and as per Secretarial Standard-1. The prescribed quorum was presented for all the Meetings and Directors of the Company actively participated in the meetings and contributed valuable inputs on the matters brought before the Board of Directors from time to time.

COMMITTEES OF THE BOARD:

The Company has four committees viz; Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee and Corporate Social Responsibility Committee which has been established as a part of the better Corporate Governance practices and is in compliance with the requirements of the relevant provisions of applicable laws and statutes.

I. Audit Committee:

The Audit Committee of the Company is constituted under the provisions of section 177 of the Companies Act, 2013. Composition of the Committee is as follows:

Sr. No. Name	Designation
1 Ajay Kumar	Chairman
2 Preet Kumar	Member
3 Bhuvneshwar Pal Singh	Member

All the recommendation made by the Audit Committee in the financial year 2025-26 was approved by the Board. The Audit Committee members met 4 times during the year for conducting the Meeting.

II. Nomination & Remuneration Committee:

The Nomination & Remuneration Committee of the Company is constituted under the provisions of section 177 of the Companies Act, 2013:

Sr. No. Name	Designation
1 Preet Kumar	Chairman
2 Ajay Kumar	Member
3 Kavita Dixit	Member

The Nomination & Remuneration Committee members met 2 times during the year for conducting the Meeting.

III. Stakeholder Relationship Committee

The Stakeholder Relationship Committee of the Company is constituted under the provisions of section 177 of the Companies Act, 2013.

Sr. No. Name	Designation
1 Kavita Dixit	Chairman
2 Preet Kumar	Member
3 Vishal Gupta	Member

The Stakeholder Relationship Committee members met once during the year for conducting the Meeting.

IV. Corporate Social Responsibility Committee

The Corporate Social Responsibility Committee of the Company is constituted under the as per the provisions of the Companies Act, 2013.

DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY INITIATIVES: CSR provides an opportunity to the Companies to effectively align its values and strategy for the benefits of the society, by contributing to the social, economic and environmental development of the society at large. The composition of Committee is as follow:

Sr. No. Name	Designation
1 Vishal Gupta	Chairman
2 Bhuvneshwar Pal Singh	Member
3 Preet Kumar	Member

The Corporate Social Responsibility Committee members met once during the year for conducting the Meeting. Further the Board of directors has also approved the CSR policy formulated in accordance with the Act (as amended from time to time), guides the Company to serve the society which can be accessed on the website of the Company at link https://www.maxvoltenergy.com/assets/docs/policy/csr-policy-fzh.pdf The disclosure as per provisions of Companies Act, 2013 on CSR activities forming part of this Report is attached as Annexure F .

CORPORATE GOVERNANCE REPORT:

Since the Company is listed on SME platform of NSE Emerge, the provisions of Corporate Governance are not applicable on the Company.

NOMINATION AND REMUNERATION FORMATING:

The Company believes that building a diverse and inclusive culture is integral to its success. A diverse Board, among others, will enhance the quality of decisions by utilizing different skills, qualifications, professional experience and knowledge of the Board members necessary for achieving sustainable and balanced development. In terms of SEBI Listing Regulations and Act, the Company has in place Nomination & Remuneration Policy. The said policy of the Company, inter alia, provides that the Nomination and Remuneration Committee shall formulate the criteria for appointment of Executive, Non-Executive and Independent Directors on the Board of Directors of the Company and persons in the Senior Management of the Company, their remuneration including determination of qualifications, positive attributes, independence of directors and other matters as provided under sub-section (3) of Section 178 of the Act (including any statutory modification(s) or re- enactment(s) thereof for the time being in force). The Policy also lays down broad guidelines for evaluation of performance of Board as a whole, Committees of the Board, individual directors including the chairperson and the Independent Directors. The aforesaid Nomination and Remuneration Policy has been uploaded on the website of your Company www.maxvoltenergy.com.

FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS:

The Board members are provided with necessary documents/ brochures, reports, and internal policies to enable them to familiarize with the Company s procedures and practices, the website link is www.maxvoltenergy.com .

ANNUAL EVALUATION:

Pursuant to the provisions of the Companies Act and the SEBI Listing Regulations, a structured questionnaire was prepared for evaluating the performance of Board, its Committees and Individual Director including Independent Directors. The questionnaires were prepared after taking into consideration the various facets related to working of Board, its committee and roles and responsibilities of Director. The Board and the Nomination and Remuneration Committee reviewed the performance of the Individual Directors including Independent Directors on the basis of the criteria and framework adopted by the Board. Further, the performance of Board as a whole and committees were evaluated by the Board after seeking inputs from all the Directors on the basis of various criteria. The Board of Directors expressed their satisfaction with the evaluation process. In a separate meeting of Independent Directors, the performance of Non-Independent Directors, performance of Board as a whole and performance of the Chairman was evaluated, taking into account the views of the Executive Directors and Non-Executive Directors.

VIGIL MECHANISM FOR THE DIRECTORS AND EMPLOYEES:

The Company has established a vigil mechanism, through a Whistle Blower Policy, where Directors and employees can voice their genuine concerns or grievances about any unethical or unacceptable business practice. A whistle-blowing mechanism not only helps the Company in detection of fraud, but is also used as a corporate governance tool leading to prevention and deterrence of misconduct. It provides direct excess to the employees of the Company to approach the Compliance Officer or the Chairman of the Audit Committee, where necessary. The Company ensures that genuine Whistle Blowers are accorded complete protection from any kind of unfair treatment or victimization. The Whistle Blower Policy is disclosed on the website of the Company at www.maxvoltenergy.com.

RISK MANAGEMENT:

The Board of the Company has evaluated a risk management to monitor the risk management plan for the Company. The Audit Committee has additional oversight in the area of financial risk and controls. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on continuing basis.

PARTICULARS OF LOANS, GURANTEES OR INVESTMENTS UNDER SECTION 186:

The details of loans, guarantees or investments covered under Section 186 of the Companies Act, 2013 are given in the Note to the Financial Statements.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES UNDER SECTION 188 OF THE ACT:

All related party transactions that were entered into during the Period under review, were on arm s length basis and in the ordinary course of business. No materially significant related party transactions which required the approval of members, were entered into by the Company during the Period under review. Further, all related party transactions entered by the Company are placed before the Audit Committee for its approval. The particulars of the contracts or arrangements entered by the Company with related parties as referred to in Section 134(3)(h) read with section 188(1) of the Act and rules framed thereunder, in the Form No. AOC2 are annexed and marked as Annexure-B.

STATUTORY AUDITORS:

M/s. ATK & Associates, Chartered Accountants (Firm Registration No. 018918C) were appointed as the Statutory Auditors of Company at the 6th Annual General Meeting for the period of 5 years i.e., from F.Y. 2025-26 to 2029-30. Further the Statutory Auditors have submitted their Report on the Financial Statements for the financial year ended March 31, 2026, forming part of this Report and there is no qualifications, reservations or adverse remarks made by the statutory auditor of Company in their Audit Report for the year under review. The notes on accounts referred to the Auditors Report are self-explanatory and therefore, do not call for any further explanation.

SECRETARIAL AUDITORS:

M/s. Rohit Verma & Associates, Company Secretaries, (Firm Registration No. P2019HR073800), Membership No. A-34764 and CP No. 20729) were appointed as Secretarial Auditors of the Company to conduct the Secretarial Audit of the Company for a period of five consecutive years i.e. from FY 2025-26 to FY 2029-30. The Secretarial Audit report received from the Secretarial Auditors is annexed to this report marked as Annexure C and forms part of this report. Further, pursuant to recent amendments to Regulation 24A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ), a listed entity must appoint a Secretarial Audit firm for a maximum of two terms of five consecutive years, with shareholders approval to be obtained at the Annual General Meeting. Accordingly, based on the recommendation of the Audit Committee, the Board of Directors at its meeting held on May 26, 2025 has approved the appointment of M/s. Rohit Verma & Associates, Company Secretaries, (Firm Registration No. P2019HR073800), Membership No. A-34764 and CP No. 20729) as the Secretarial Auditors of the Company for a period of five (5) consecutive years, commencing from FY 2025-26 to FY 2029-30 subject to approval of the Members at the Annual General Meeting.

INTERNAL AUDITORS:

The Board of Directors of the Company at its meeting held on May 26, 2025 has appointed M/s. S. Yadav & Company, Chartered accountants as Internal Auditor for a period of one year i.e. FY 2025-26 and on May 12, 2026 for a period of one year i.e. FY 2026-27.

EXTRACTS OF ANNUAL RETURN:

In accordance with Section 92(3) and Section 134(3) (a) of the Companies Act, 2013 read with Companies (Management and Administration) Rules, 2014, the Annual Return as on 31st March 2026 is available on the Company s website www.maxvoltenergy.com.

MANAGEMENT DISCUSSION & ANALYSIS REPORTS:

A detailed report on Management Discussion and Analysis (MDA) Report is included in this Report as Annexure D.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

(A)CONSERVATION OF ENERGY:

i) The steps taken or impact on conservation of energy:

(a) Electrical Energy: Reducing the maximum demand by evenly distributing the loads throughout the day and increasing efficiency of plant and equipment s.

Improving power factor by optimum choice of power factor improvement capacitor. Monitoring the overall energy consumption by reducing losses and improvement of efficiency of all Class A utilities.

(b) Fuel Oil Consumption: The Company is carrying out at all its plants regular maintenance of steam lines/steam traps and user equipment to ensure high efficiency levels throughout the year. The new improvements are reviewed regularly and implemented wherever found suitable.

(B)Technology Absorption:

i) Efforts made in technology absorption: The Company has an in-house Research and Development Department (R & D) which carries out activities such as product and quality improvement, development of new designs, new products, cost control and energy conservation. The Company has been developing inhouse modifications/improvements in process technology in its various manufacturing sections which, when found suitable, are integrated into the regular manufacturing operation.

ii) The benefits derived as a result of the above: - Quality improvement Energy Conservation The R & D activities have resulted into development of new designs and products.

iii) In case of imported technology (imported during the last 3 years reckoned from the beginning of the financial year): Not Applicable. iv) Expenditure incurred on R & D: - (In Lakhs) Capital 73.60 Recurring NIL

C)Foreign Exchange Used/Outgo 1,85,52,516 · Foreign Exchange Earned 39.17

STATEMENT PURSUANT TO SECTION 197(12) OF THE COMPANIES ACT, 2013 READ WITH RULE 5 OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014:

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided in this Report as Annexure E which forms part of this Report.

HUMAN RESOURCES

The relations with the employees and associates continued to remain cordial throughout the year. The Directors of your Company wish to place on record their appreciation for the excellent team spirit and dedication displayed by the employees of the Company.

DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013:

The Company is committed to provide a safe and conducive work environment to its employees. There exist at the group level an Internal Complaint Committee ( ICC ) constituted under The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The group is strongly opposed to sexual harassment and employees are made aware about the consequences of such acts and about the constitution of ICC. During the year under review, no complaints were filed with the Committee under the provisions of the said Act in relation to the workplace/s of the Company.

COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND ANNUAL GENERAL MEETINGS:

The Company has complied with Secretarial Standards issued by the Institute of Company Secretaries of India on Board meetings and Annual General Meetings. The Directors have devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards and that such systems are adequate and operating effectively.

MAINTENANCE OF COST RECORDS:

As per Section 148 of the Act read with Companies (Cost Records and Audit) Rules, 2014, the Board of Directors of the Company on recommendation of the Audit Committee had appointed M/s. PK & Associates, Cost Accountants (FRN: 001452) to audit the cost accounts of the Company for the Financial Year 2025-26. In terms of the provisions of Section 148(3) of the Act, read with Rule 14(a)(ii) of the Companies (Audit and Auditors) Rules, 2014, the remuneration payable to the Cost Auditor is required to be ratified by the Members, accordingly, a resolution seeking ratification by the Members for the remuneration is listed in the AGM Notice as Special Business. The Cost Auditors have certified that their appointment is within the limits of Section 141(3)(g) of the Act and that they are not disqualified from appointment within the meaning of the said Act. Maintenance of cost records as specified by the Central Government under Sub-Section (1) of Section 148 of the Act, is required by the Company and accordingly, such accounts and records are made and maintained.

ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS:

The Company has in place adequate Internal Financial Controls with reference to financial statements. During the year under review, such controls were tested and no reportable material weakness in the design or operation was observed.

GREEN INITIATIVES

In compliance with Regulation 36 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Notice of the AGM along with the Annual Report 2025-26 is being sent only through electronic mode to those Members whose email addresses are registered with the Company/ Depositories. Members may note that the Notice and Annual Report 2025-26 will also be available on the Company s website www.maxvoltenergy.com.

INSOLVENCY AND BANKRUPTCY CODE 2016:

No application or proceeding was initiated in respect of the Company in terms of Insolvency and Bankruptcy Code 2016.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 134 of the Companies Act, 2013 ( the Act ), with respect to Directors Responsibility Statement it is hereby confirmed:

a. The Financial Statements of the Company - comprising of the Balance Sheet as at March 31, 2026 and the Statement of Profit & Loss for the year ended as on that date, have been prepared on a going concern basis following applicable accounting standards and that no material departures have been made from the same;

b. Accounting policies selected were applied consistently and the judgments and estimates related to these financial statements have been made on a prudent and reasonable basis, 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 profits and loss of the Company for the year ended on that date;

c. Proper and sufficient care has been taken for maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, to safeguard the assets of the Company and to prevent and detect fraud and other irregularities;

d. Requisite Internal Financial Controls to be followed by the Company were laid down and that such internal financial controls are adequate and operating effectively; and e.Proper systems have been devised to ensure compliance with the provisions of all applicable laws and such systems are adequate and operating effectively.

ACKNOWLEDGEMENTS:

Your Directors place on record their sincere thanks to bankers, business associates, consultants, and various Government Authorities for their continued support extended to your Companies activities during the year under review. Your Directors also acknowledges gratefully the shareholders for their support and confidence reposed on your Company.

For and on behalf of the Board

Maxvolt Energy Industries Limited

Sd/-	Sd/-
Bhuvneshwar Pal Singh	Vishal Gupta
Managing Director & CFO	Whole Time Director & Chairman
DIN 07645099	DIN - 07842571
Place: Ghaziabad
Date: 03/09/2026