Shriram Asset Management Co Ltd Directors Report

T Dear Members,

Your Directors have pleasure in presenting their 32 nd Annual Report of Shriram Asset Management Company Limited (the Company) together with the Audited Financial Statements for the Financial Year (FY) ended March 31, 2026.

Financial Summary & Highlights:

Particulars	Year Ended March 31, 2026	Year Ended March 31, 2025
	(Rs. In lakhs)	(Rs. In lakhs)
Gross Income for the year	1,220.29	675.46
Total Expenditure before Depreciation and Tax	3,198.28	2,236.43
Profit /(Loss) before Depreciation and Tax	(1,977.99)	(1,560.97)
Less: Depreciation	42.28	76.98
Tax Provisions for the Year	10.72	13.27
Profit /(Loss) after Depreciation and Tax	(2,030.99)	(1,651.22)
Other Comprehensive Income for the year	16.66	(4.45)
Balance brought forward from previous year	(3,759.27)	(2,103.60)
Profit available for Appropriation	Nil	Nil
Balance carried to Balance Sheet	(5,773.59)	(3,759.27)

Transfer to Reserves:

The Company has made no transfers to the general reserves during FY 2025-2026.

Dividend:

In the absence of profits, your Directors do not recommend payment of any dividend for the FY 2025-2026. The Company doesnt have Dividend Distribution Policy as the provisions are not applicable to the Company.

State of Companys Affairs:

Some highlights of your Companys performance during the year under review are:

The gross loss (before depreciation and tax) for the year was 1,977.99 lakhs as against 1,560.97 lakhs during the last year.

Net loss after taxation for the year was 2,030.99 lakhs as against 1,651.22 lakhs in the last year.

The total asset under management was 1,188 crore as against 901 crore in the last year.

Shriram Aggressive Hybrid Fund, launched in November 2013, delivered a CAGR of 9.09% since inception, Shriram Flexi Cap Fund, launched in September 2018, generated a CAGR of 7.91% since inception. Shriram ELSS Tax Saver Fund (ELSS), launched in January 2019, delivered a CAGR of 8.97% since inception. Shriram Balanced Advantage Fund, launched in July 2019, achieved a CAGR of 6.78% since inception. Shriram Overnight Fund, launched in August 2022, returned a CAGR of 6.16% since inception. Shriram Multi Asset Allocation Fund, launched in September 2023, delivered 8.28% since inception. Shriram Nifty 1D Rate Liquid ETF (launched in July 2024), which delivered a return of 5.54% since inception. Shriram Liquid Fund (launched in November 2024), which delivered a return of 6.19%. Shriram Multi Sector Rotation Fund (launched in December 2024) delivered a return (24.44%) since inception.

In addition, one new fund was launched during FY 2025-2026:

Shriram Money Market Fund (launched in January 2026), which returned 5.81% (Annualised) since launch. (Note: All Returns are based on the regular growth plan.) Assets Under Management (AUM) for mutual funds reached 1,143.88 crore on March 31, 2026, an increase of 27.71% from March 31, 2025.

SIP contributions in the mutual fund industry remained robust, recording steady year-on-year growth. Collections for March 31, 2026 stood at 32,087 crore, while the industrys SIP AUM reached 15,10,943 crore for FY 2025-2026. This sustained growth highlights the increasing maturity of Indian investors and their rising preference for mutual funds as a long-term investment avenue.

During FY 2024-2025, the Company was registered as Portfolio Managers with SEBI for carrying out activities of Portfolio Management Scheme under Regulation 3 of Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020. The Company launched three Discretionary PMS products on December 16, 2024: Shriram LEAPS, Shriram Future GEMS and Shriram Liquid PMS. Subsequently, the Company launched three Non-Discretionary PMS products, on June 2, 2025, it launched NDPMS Equity, followed by the launch of NDPMS Mutual Fund on September 12, 2025, and finally, STP Liquid on November 10, 2025.

Portfolio Management Services (PMS) business, which was launched in FY 2024-2025, is an important service that our Company offers to HNI clients. As of March 31, 2026, the PMS business had total Assets Under Management (AUM) of 44.54 crore .

Change in Nature of Business:

There was no change in the nature of the business of the Company.

Share Capital:

As on March 31, 2026, the Authorized Share Capital of the Company was 1,27,00,00,000/- (Rupees One Hundred and Twenty Seven Crores Only) comprising of 2,30,00,000 (Two Crore Thirty Lakhs) Equity Shares of 10/- each, 50,00,00,000 (Fifty Crores) Compulsory Convertible Preference Shares of 1/- each and 54,00,000 (Fifty Four Lakhs) Redeemable Non-Convertible Preference Shares of 100/- each.

During the year under review, the Company allotted 74,932 Equity Shares to eligible employees on exercise of options granted under the Employee Stock Option Plan of the Company. Further, during the year under review, the Company allotted 38,88,889 Equity Shares of face value 10/- each on preferential basis to Sanlam Emerging Markets (Mauritius) Limited. Consequent to the above allotments, the issued, subscribed, and paid-up equity share capital of the Company stood at 1,69,80,696 Equity Shares of 10/- each as on March 31, 2026.

The Company has not issued any shares with differential voting rights, sweat equity shares during the year under review.

Material changes and commitments, if any, affecting the Financial Position of the Company from the Financial Year end till the date of this Report:

No material changes or commitments affecting the financial position of the Company have taken place from March 31, 2026 till the date of this report.

Particulars of Loans, Guarantees or Investments:

The details of the Investments and Loans covered under the provisions of Section 186 of the Companies Act, 2013 (the Act) are given in the notes to financial statements.

Cash Flow Statement:

The Cash Flow statement for the FY 2025-2026 is attached to the Balance Sheet.

Directors and Key Managerial Personnel: i. Directors

During the year under review, Mr. Marc Scott Irizarry (DIN: 09578499) resigned as an Independent Director of the Company with effect from close of business hours on July 30, 2025 due to pre-occupation with other engagements. Further, Mr. Prem Haroomal Samtani (DIN: 09782200) resigned as an Independent Director of the Company with effect from close of business hours on July 30, 2025 due to pre-occupation with other engagements.

Mr. Dhruv Lalit Mehta (DIN: 02083226) also resigned as Non-Executive and Non-Independent Director of the Company with effect from the conclusion of the Board Meeting held on July 30, 2025 due to pre-occupation with other engagements. ii. Appointment of Non-Executive Directors

- The Board of Directors of the Company at its meeting held on July 30, 2025, based on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Ms. Hakkithimmanahalli Krishna Gayathri (DIN: 03173181) as an Additional Director, designated as an Independent Director w.e.f. July 30, 2025. Further, as required under Regulation 17(1C) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), the Company had on September 18, 2025, obtained approval of the shareholders of the Company through Postal Ballot for appointment of Ms. Hakkithimmanahalli Krishna Gayathri as an Independent Director of the Company for a term of five (5) consecutive years, w.e.f. July 30, 2025.

- The Board of Directors of the Company at its meeting held on July 30, 2025, based on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Mrs. Roopa Venkatkrishnan (DIN: 05123463) as an Additional Director, designated as an Independent Director w.e.f. July 30, 2025. Further, as required under Regulation 17(1C) of the SEBI Listing Regulations, the Company had on September 18, 2025, obtained approval of the shareholders of the Company through Postal Ballot for appointment of Mrs. Roopa Venkatkrishnan as an Independent Director of the Company for a term of five (5) consecutive years, w.e.f. July 30, 2025.

- The Board of Directors of the Company at its meeting held on July 30, 2025, based on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Mr. Pragadasan Shanmugam (DIN: 11087966) as an Additional Director, designated as a Non-Executive and Non-Independent Director w.e.f. July 30, 2025. Further, as required under Regulation 17(1C) of the SEBI Listing Regulations, the Company had September 18, 2025, obtained approval of the shareholders of the Company through Postal Ballot for appointment of Mr. Pragadasan Shanmugam as a Non-Executive and Non-Independent Director of the Company.

- The Board of Directors of the Company at its meeting held on November 10, 2025, based on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Mr. Thian Joost Fick (DIN: 10328186) as an Additional Director, designated as a Non-Executive and Non-Independent Director w.e.f. November 10, 2025. Further, as required under Regulation 17(1C) of the SEBI Listing Regulations, the Company had on December 2025, obtained approval of the shareholders of the Company through Postal Ballot for appointment of Mr. Thian Joost Fick as a Non-Executive and Non-Independent Director of the Company. iii. Re-appointment of Mr. Kartik Jain, Managing Director and Chief Executive Officer

The Shareholders of the Company, basis the recommendation of the Board of Directors, approved re-appointmentof Mr. Kartik Jain (DIN: 09800492) as the Managing Director and Chief Executive Officer for a period of 3 years from 09, 2026 to January 08, 2029, not liable to retire by rotation throughostal Ballot on September 18, 2025. P iv. Retirement by Rotation

In accordance with the provisions of Section 152 of the Act read with the Companies (Appointment and Qualifications of Directors) Rules, 2014 and the Articles of Association of the Company, Mr. Gaurav Patankar (DIN:02640421), Non-Executive and Non-Independent Director, is liable to retire by rotation at the upcoming AGM of the Company, being eligible has offered himself for re-appointment. Necessary proposal for his re-appointment will be placed for your approval at the upcoming AGM. The brief resume and other related information have been detailed in the Notice convening the AGM of the Company. The Board of Directors recommends his re-appointment as Non-Executive and Non-Independent Director of the Company. v. Independent Directors

All the Independent Directors have given declarations that they meet the criteria of independence as laid down under Section 149(6) of the Act and Regulation 16 (1) (b) of the SEBI Listing Regulations. In the opinion of the Board, they fulfil conditions of independence as specified in the Act and SEBI Listing Regulations and are independent of the management Further, the Independent Directors have complied with the Code for Independent Directors prescribed in Schedule IV to the Act.

In terms of Section 150 of the Act read with Rule 6(3) of the Companies (Appointment and Qualifications of Directors) Rules, 2014, all Independent Directors of the Company have confirmed that they have registered themselves with the databank maintained by the Indian Institute of Corporate Affairs, Manesar (IICA). Further, in terms of Rule 6(4) of the Companies (Appointment and Qualifications of Directors) Rules, 2014, one (1) Independent Director has passed the Online Proficiency Self-Assessment test conducted by IICA, two (2) Independent Directors were not required to appear for the said test as required by IICA as they fulfil the exemption criteria stipulated under Rule 6(4) of the Companies (Appointment and Qualifications of Directors) Rules, 2014 and two (2) Independent Directors will appear for the said test within a period of two years from the date of inclusion of their name in the data bank.

In the opinion of the Board, the Independent Directors possess the requisite expertise, experience & proficiency and are people of high integrity and repute. They fulfil the conditions specified in the Act and the Rules made thereunder and Listing Regulations and are independent of the management.

vi. Key Managerial Personnel (KMP)

As on March 31, 2026, following are the Key Managerial Personnel of the Company:

Sr. No.	Name of the KMP	Designation
1	Mr. Kartik Jain	Managing Director and Chief Executive Officer
2	Ms. Vinita A. Kapoor	Company Secretary & Lead-Legal
3	Mrs. Jaya Abhishek Innani	Chief Financial Officer

- Mrs. Reena Yadav ceased to be the Company Secretary and Compliance Officer of the Company with effect from the close of business hours on September 24, 2025.

- Ms. Vinita A. Kapoor was appointed as the Compliance Officer of the Company with effect from December 23, 2025, in accordance with provisions of Regulation 6(1) of the SEBI Listing Regulations and as the Company Secretary of the Company with effect from February 06, 2026.

Deposits:

During the year under review, your Company has not accepted any deposits within the meaning of Sections 73 and 74 of the Act read together with the Companies (Acceptance of Deposits) Rules, 2014.

Board Evaluation:

Pursuant to the provisions of the Act and SEBI Listing Regulations, the Board has carried out an annual performance evaluation of its own performance and the Directors individually as well as the evaluation of the working of its Committees. The manner in which the evaluation has been carried out has been explained in the Corporate Governance Report which forms part of the Annual Report.

Nomination and Remuneration Policy:

In terms of the requirements under the Act and SEBI Listing Regulations, the Company has in place Nomination and Remuneration Policy which lays down a framework in relation to remuneration of Directors, Key Managerial Personnel and Senior Management of the Company.

The key features of the policy are as follows:

1. Criteria for appointment and removal of Director, Key Managerial Personnel and Senior Management.

2. Criteria for performance evaluation.

3. Criteria for determining qualifications and positive attributes of Directors.

4. Criteria for determining independence of a Director, in case of appointment of Independent Director.

5. Criteria for fixing the remuneration of Managing Director, Key Managerial Personnel and Senior Management.

The details of this policy are explained in the Corporate Governance Report, which forms part of the Annual Report and the policy is also available at https://www.shriramamc.in/shareholder-disclosures-under-regulation-46-of-lodr.

Number of Board Meetings:

During the year under review, 4 (four) Board Meetings were held which includes 1 (one) joint Board Meeting between the Board of the Company with the Board of the Trustees as stipulated in SEBI Master Circular No. SEBI/HO/IMD/IMD-PoD-1/P/CIR/2024/90 dated June 27, 2024. The details of the meetings of the Board and Committees are given in the Corporate Governance Report, which forms part of the Annual Report. The gap between the Meetings was within the period prescribed under the Act and SEBI Listing Regulations respectively.

Committees of the Board: Audit Committee:

The Audit Committee comprises of Mrs. Uma Shanmukhi Sistla (Independent Director) as Chairperson, Mrs. Subhasri Sriram (Non-Independent Director) as Member, Mr. Ramamurthy Vaidyanathan (Independent Director) as Member, Mr. Pragadasan Shanmugam (Non-Independent Director) as Member, Ms. Hakkithimmanahalli Krishna Gayathri (Independent Director) as Member, and Mrs. Roopa Venkatkrishnan (Independent Director) as Member. All the recommendations made by the Audit Committee were accepted by the Board.

Other Committees:

Details of all the Statutory Committees such as terms of reference, composition and meetings held during the year under review are disclosed in the Corporate Governance Report, which forms part of the Annual Report. During the year under review, all the recommendations made by the committees were approved by the Board.

Risk Management:

The Company has in place a Risk Management Policy, commensurate with its size of operations, which lays down a process for identification and mitigation of risks that could materially impact its performance.

Corporate Social Responsibility:

The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said provisions are not applicable.

Directors Responsibility Statement:

Pursuant to the provisions of Section 134(3)(c) of the Act, the Directors confirm that to the best of their knowledge and belief: a) In the preparation of Annual Accounts and Financial Statements for the year ended March 31, 2026, the applicable Accounting Standards have been followed along with proper explanations relating to material departures, if any; b) That such accounting policies as mentioned in Notes to the Financial Statements have been selected and applied consistently, and judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2026 and of the Loss of the Company for the year ended on that date; c) That proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d) The Annual Accounts have been prepared on an ongoing concern basis; e) That they have laid down internal financial controls commensurate with the size of the Company and that such financial controls were adequate and were operating effectively; f) That they have devised proper systems to ensure compliance with the provisions of all applicable laws and that systems were adequate and operating effectively.

Related Party Transactions:

All Related Party Transactions of the Company that were entered during the year under review were on an arms length basis and were in the ordinary course of business. None of the Related Party Transactions entered into by the Company were in conflict with the Companys interest. There were no materially significant Related Party Transactions made by the Company with Promoters, Directors or Key Managerial Personnel etc. which may have potential conflict with the interest of the Company at large. All Related Party Transactions are placed before the Audit Committee/Board, as applicable, for their approval. The particulars of contracts or arrangements with related parties in Form AOC-2 are annexed herewith as Annexure A to this Report .

Significant and Material Orders Passed by the Regulators or Courts or Tribunals:

During the year under review, there were no significant material orders passed by the Regulators/Courts/Tribunals impacting the going concern status and Companys operations in future.

Income Tax Assessment:

The details of the Income Tax Assessment covered under the provisions of the Income Tax Act, 1961 are given in the notes to financial statements.

Internal Financial Controls and their adequacy:

The Company has put in place adequate internal financial controls with reference to the Financial Statements that commensurate with the size of the Company.

Disclosures:

Vigil Mechanism / Whistle Blower Policy:

As per the provisions of Section 177(9) of the Act, the Company has established a Vigil Mechanism for stakeholders including directors and employees of the Company to report genuine concerns or grievances. Regulation 4(2)(d)(iv) and 22 of SEBI Listing Regulations also provides for establishment of vigil mechanism for stakeholders including directors and employees for above mentioned matters. The Company has a Policy for Prevention, Detection and Investigation of Frauds and Whistle Blower. The Whistle Blower Policy/Vigil Mechanism framed by the Company is available on the website of the Company i.e. https://www.shriramamc.in/shareholder-disclosures-under-regulation-46-of-lodr .

Utilisation of Proceeds:

There were no instances of deviation(s) / variation(s) in utilisation of proceeds of preferential issue .

Prevention of Sexual Harassment Policy and its Reporting:

The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment at workplace. All employees (permanent, contractual, temporary, trainees) are covered under this policy. Details of complaints received and disposed of during FY 2025-2026 are mentioned below :

Number of Complaints	No. of cases
Number of complaints pending at the beginning of the financial year	0
Number of complaints of sexual harassment received during the year	0
Number of complaints disposed of during the year	0
Number of complaints pending for more than ninety days	0
Number of complaints pending at the end the financial year	0

Auditors and Auditors Report: Statutory Auditors

Upon receipt of approval from the shareholders at the 28 th Annual General Meeting (AGM) of the Company, M/s. G. D. Apte & Co., (Firm Registration No. 100515W) Chartered Accountants, Mumbai, were appointed as Statutory Auditors of the Company, for the second term of five consecutive years from the conclusion of28 th AGM to the conclusion of 33rd AGM, to be held in the year 2027 on a remuneration mutually agreed upon by the Board of Directors and the Statutory Auditors.

Pursuant to the amendments made to Section 139 of the Act, by the Companies (Amendment) Act, 2017 effective from May 07, 2018, the requirement of seeking ratification of the Members for the appointment of the Statutory Auditors has been withdrawn from the Statute.

In view of the above, ratification by the Members for continuance of their appointment at this AGM is not being sought. The Statutory Auditors have given a confirmation to the effect that they are eligible to continue with their appointment and that they have not been disqualified in any manner from continuing as the Statutory Auditors.

The Notes on financial statements referred to in the Auditors Report are self-explanatory and does not contain any qualification, reservation or adverse remark and therefore do not call for any further comments from the Board under Section 134(3) of the Act.

No frauds have been reported under Section 143(12) of the Act and therefore no details are required to be disclosed under Section 134(3)(ca) of the Act.

Secretarial Auditors

Pursuant to the amended provisions of Regulation 24A of the SEBI Listing Regulations and Section 204 of the Act read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, Mr. Suhas S. Ganpule, Company Secretary, Proprietor of M/s. SG & Associates, Peer Reviewed Firm of Company Secretaries in Practice was appointed as

Secretarial Auditor of the Company for a term of up to 5 (Five) consecutive years to hold office from the conclusionof31 st AGM till the conclusion of 36 th AGM of the Company to be held in the year 2030.

Pursuant to provisions of Section 204(1) of the Act and Regulation 24A of the SEBI Listing Regulations, the Secretarial Audit for the FY 2025-2026 is annexed herewith as Annexure B to this Report. The Secretarial Audit Report does not contain any qualification, reservation or adverse remarks.

Subsidiaries, Joint Ventures or Associate Companies:

The Company does not have any subsidiary or associate or joint venture company within the meaning of relevant provisions of the Act.

Corporate Governance:

Management Discussion and Analysis Report and Report on Corporate Governance forms part of the Annual Report.

As required by the SEBI Listing Regulations, Practicing Company Secretarys Report on Corporate Governance and a declaration by the Chief Executive Officer with regards to Code of Conduct are attached to the said Report.

As required under SEBI Listing Regulations, a detailed report on Corporate Governance along with the Certificate from Practising Company Secretary confirming compliance forms an integral part of the Annual Report and certificate duly signed the Managing Director & Chief Executive Officer and Chief Financial Officer on the Financial Statements of the Company year ended March 31, 2026 was submitted to the Board of Directors at their Meeting held on May 15, 2026. These certificates are attached to the Report on Corporate Governance.

Energy Conservation, Technology Absorption and Foreign Exchange Earnings and Outgo:

1. Conservation of Energy and Technology Absorption -

Your Company does not consume high levels of energy and regular efforts are made to adopt appropriate energy conservation measures and technology absorption methods. The requirement of disclosure of particulars with respect to conservation of energy as prescribed in Section 134(3)(m) of the Act read with Rule 8(3) of the Companies (Accounts) Rules, 2014, is not applicable to the Company and hence are not provided.

2. Foreign Exchange earnings and outgo -

During the year under review, the Company earned foreign exchange equivalent to NIL (Previous Year: NIL). The Company spent foreign exchange equivalent to 0.16 Crore (Previous Year: NIL).

Annual Return:

Pursuant to the provisions of Section 134(3)(a) and Section 92(3) of the Act read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the draft of the Annual Return of the Company for the year ended March 31, 2026 shall be available in prescribed format on the Companys website at https://www.shriramamc.in/shareholder-disclosures-under-regulation-46-of-lodr.

Compliance with Secretarial Standards:

The Board of Directors affirms that the Company has complied with the applicable Secretarial Standards issued by the Institute of Company Secretaries of India (SS-1 and SS-2) with respect to Board and General Meetings.

Employee Stock Option Plan (ESOP):

The Company has adopted the Shriram Asset Management Company Limited - Employees Stock Option Plan 2022 (ESOP 2022 Scheme). In accordance with the terms of the ESOP 2022 Scheme, employees are eligible for award of conditional rights to receive equity shares. The Company confirms that the ESOP 2022 Scheme complies with the provisions of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

The statement of detailed information on the options granted and vested under ESOP 2022 Scheme is provided under Annexure C annexed to this report.

There is no material change in the ESOP 2022 Scheme and is in compliance with the regulations.

The details of the ESOP 2022 Scheme, including terms of reference, and the requirement specified under Regulation 14 of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, are available on the Companys website at https://www.shriramamc.in/Reports.aspx .

The Secretarial Auditors have certified that the ESOP 2022 Scheme has been implemented in accordance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 and in accordance with the resolution passed by the The said certificate is annexed herewith as Annexure D to this Report.

Particulars of Employees and Related Disclosures:

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a statement showing the names of the top ten employees in terms of remuneration drawn and other particulars of the employees drawing remuneration in excess of the limits set out in the said forms part of this Report.

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

Having regard to the provisions of the second proviso to Section 136(1) of the Act and as advised, the Annual Report excluding the aforesaid information is being sent to the members of the Company. Any member interested in obtaining such information may address their email to srmf@shriramamc.in .

Compliance to Maternity Benefit Act, 1961:

The Company has complied with the applicable provisions of Maternity Benefit Act, 1961 for female employees of the Company with respect to leaves and maternity benefits thereunder.

Transfer to Investor Education and Protection Fund:

The Company does not fall under the ambit for transferring any amount to the Investor Education & Protection Fund (IEPF) no amount is lying in Unpaid Dividend A/c of the Company.

Credit ratings:

The Company has not obtained any credit rating during the FY 2025-2026.

Maintenance of Cost Records:

The Company is not required to maintain the Cost Records as specified by the Central Government under Section 148 (1) of Act.

Application under Insolvency and Bankruptcy Code, 2016:

During the year under review, the Company has not made any application and there are no proceedings pending under the Insolvency and Bankruptcy Code, 2016.

One Time Settlement:

During the year under review, there is no loan taken by the Company hence disclosure with respect to one-time settlement entered into with any Bank or financial institutions does not arise.

Acknowledgement:

The Board of Directors take this opportunity to express their sincere appreciation for the excellent support and co-operation received from the Securities and Exchange Board of India, Association of Mutual Funds of India, Stock Exchange Authorities, Auditors, Bankers, Distributors, other Service providers and Shriram Trustees Limited (Trustees of Shriram Mutual Fund). The Directors wish to place on record the continued enthusiasm, total commitment, dedication and efforts of the employees the Company at all levels.

We are also deeply grateful to the Shareholders of the Company and also to the large body of investors of schemes of Shriram Mutual Fund for the continued confidence and the faith reposed in the Fund and look forward to their continued patronage.

By Order of the Board For Shriram Asset Management Company Limited

	Mr. K. V. Eapen
Place: Mumbai	Chairman
Date: May 15, 2026	(DIN: 01613015)