SKF India Industrial Ltd Directors Report

Dear Members,

The Board of Directors of your Company are pleased to present the 2nd Annual Report, with audited financial statements for the financial year ended on 31st March, 2026.

The Companys shares were Listed w.e.f. 5th December, 2025 and accordingly the Company is a listed entity. Considering the same, the provisions of the SEBI (Listing Obligations & Disclosure Requirement) Regulation 2015 (LODR) became applicable to this Company for the period starting from 5th December, 2025 to 31st March, 2026.

1. Financial Highlights:

	Year Ended
	31st March, 2026	31st March, 2025*
Revenue from Operations	34,403.6	7,206.01
Other Income	591.2	126.6
Total Income	34,994.8	7,332.7
Operating Expenditure	30,507.3	5,596.0
Depreciation	313.8	92.7
Profit before exceptional item and tax	4,173.7	1,644.0
Exceptional items	1,961.0	-
Provision for Taxation	36.0	430.9
Profit after Tax	2,176.7	1,213.1
Other Comprehensive Income	38.1	24.3
Total Comprehensive Income for the Period	2,214.8	1,237.4

*Note

The Financial Statements have been prepared in accordance with the prescribed Indian Accounting Standards (Ind AS), including the accounting treatment of the demerger. Consequently, the comparative figures for the period ending 31st March, 2025, as well as for the period 1st April, 2025 to 30th September, 2025 (included within the year ended 31st March, 2026), have been restated as if the Scheme had been effective from the date of incorporation of the Company, i.e, 17th December, 2024.

2. State of Companys Affairs:

The Company was incorporated on 17th December, 2024 with a vision to empower global enterprises through advanced, future-ready technologies designed to address the needs of the next decade. SKF India (Industrial) Limited is an affiliate of the Sweden-based SKF Group, which was founded in 1907. SKF Group started its operations in India in 1923 and it is primarily engaged in the manufacturing and supply of high-quality bearings and their components in India, serving diverse industrial and automotive applications.

The Company operates as a technology-driven organisation, committed to delivering innovative, efficient, and sustainable engineering solutions. Its product and service portfolio is built around an integrated technology approach encompassing bearings and units, seals, mechatronics, lubrication systems, and allied services.

Through its solutions, the Company aims to support customers in enhancing operational performance by reducing friction, improving energy efficiency, and increasing equipment reliability and longevity. The Company places strong emphasis on research-led innovation and continuous improvement, enabling it to offer customised, value-added solutions tailored to specific customer and industry requirements.

With a customer-centric approach and focus on sustainability, the Company is well-positioned to contribute to the advancement of the industrial sectors while creating long-term value for all its stakeholders.

Demerger of Industrial business of SKF India Limited into the Company

Your Company was incorporated on 17th December,

2024, as a wholly owned subsidiary of SKF India Limited for the purpose of carrying on the Industrial business, as part of SKF Groups global separation of its Automotive and Industrial businesses.

The Board of Directors of the Company and SKF India Limited, at their respective meetings held on 26th December, 2024, approved the Scheme of Arrangement between SKF India Limited (‘Demerged Company) and SKF India (Industrial) Limited (‘Resulting Company) and their respective shareholders and creditors (‘Scheme) for the demerger of Industrial Business (as defined in the Scheme) into the Company on a going concern basis, subject to requisite statutory and regulatory approvals under Sections 230-232 of the Companies Act, 2013.

The Demerger was undertaken to inter-alia enable the Demerged Company and the Resulting Company to operate independently, pursue distinct growth strategies, improve efficiency, enhance strategic flexibility, de-risk both the Automotive and Industrial businesses, and unlock value for shareholders while providing clearer visibility into each businesss performance.

The Scheme was sanctioned by the Honble National Company Law Tribunal, Mumbai Bench vide its Order dated 26th September, 2025. The Appointed Date and Effective Date of the Scheme is 1st October, 2025.

Changes in Share Capital of Company

Authorised share capital:

The members approved the increase in authorised capital of the Company from 150,000 (One Lakh Fifty Thousand) equity shares of INR 10/- (Rupees Ten only) each aggregating to INR 1,500,000/- (Rupees Fifteen Lakh only) to 50,000,000 (Five Crores) equity shares of INR 10/- (Rupees Ten only) each aggregating to INR 500,000,000/- (Rupees Fifty Crores only) vide its Extra Ordinary General Meeting held on 20th May, 2025 by passing an Ordinary Resolution.

Paid-up Share Capital:

Upon the Scheme becoming effective, on 17th October,

2025, Company allotted 49,437,963 fully paid-up equity shares of INR 10/- each to the members of SKF India Limited as on the Record Date (i.e 15th October, 2025), in accordance with the share entitlement ratio of 1 (One) fully paid-up equity share of INR 10/- (Indian Rupees Ten only) each of the Resulting Company for every 1 (One) fully paid-up equity share of INR 10/- (Indian Rupees Ten only) each held in the Demerged Company (‘Share Entitlement Ratio), as set out in the Scheme. The entire pre-scheme share capital of INR MINR 0.1 of the Company held by SKF India Limited was cancelled pursuant to the Scheme. The Company ceased to be SKF India Limiteds wholly owned subsidiary.

Listing at BSE Limited and National Stock Exchange of India Limited

In terms of the Scheme, Companys shares were listed on BSE Limited (Scrip Code: 544572) and the National Stock Exchange of India Limited (Symbol: SKFINDUS) on 5th December, 2025, marking its commencement as an independent listed entity positioned to pursue growth in the Industrial business segment.

3. Operations:

The Revenue from operations of the Company for the year ended on 31st March, 2026 stood at INR 34,403.6 Million compared to INR 7,206.1 Million in the previous period (17th December, 2024 to 31st March, 2025). The Companys Profit before Tax for the year under review was INR 2,212.7 Million compared to INR 1,644.0 Million in the previous period (17th December, 2024 to 31st March, 2025).

The Profit after Tax for this period was INR 2,176.7 Million, compared to INR 1,213.1 Million during the previous period (17th December, 2024 to 31st March, 2025).

The Company incurred a capital expenditure of INR 2,397.02 Million during the year.

4. Transfer to Reserves:

The Board of Directors decided to retain the entire amount of profit for FY 2025-26 in the profit and loss account. No amount was transferred to the General Reserves of the Company.

5. Dividend:

The Board of Directors has recommended a Dividend of INR 10/- per equity share having face value of INR 10/- each to its shareholders for financial year ended 31st March, 2026. The Dividend would be paid subject to the approval of the Members at the ensuing 2nd Annual General Meeting of the Company to be held on 13th August, 2026.

The record date is Friday, 3rd July, 2026 , for the purpose of determining the eligibility of the shareholders for payment of the dividend for the financial year ended 31st March, 2026.

Dividend income is taxable in the hands of the Members/Shareholders and the Company is required to deduct tax at source ("TDS") from dividend payments in accordance with the provisions of the Income-tax Act, 2025 ("IT Act, 2025").

The Company shall, accordingly, make the payment of the final dividend after deduction of tax at source. Pursuant to Regulation 43A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR), the Dividend Distribution Policy approved by the Board is available on the Companys website: https://cdn. skfmediahub.skf.com/api/public/09b078cfe6ebb749/ pdf preview medium/Dividend Distribution Policy pdf preview medium.pdf

6. Share Capital Structure and Listing of Shares:

The paid-up share capital of the Company as of 31st March, 2026, is 494.38 MINR - divided into 49,437,963 equity shares of INR 10/- each. The Companys equity shares are listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE). During the year under review, on 17th October, 2025, Company allotted 49,437,963 fully paid-up equity shares INR 10/- each of the Company to the members of SKF India in accordance with the share entitlement ratio of 1 (One) fully paid-up equity share of INR 10/- (Indian Rupees Ten only) each of the Resulting Company for every 1 (One) fully paid-up equity share of INR 10/- (Indian Rupees Ten only) each held in the Demerged Company (‘Share Entitlement Ratio) set out in Scheme. Accordingly, the entire pre scheme equity share capital of 0.1 Million held by SKF India Limited in the Company was reduced and cancelled pursuant to the Scheme and the Company ceased to be wholly owned subsidiary of SKF India Limited.

Your Company got listed on BSE Limited (Scrip Code: 544572) and the National Stock Exchange of India Limited (Symbol: SKFINDUS) on 5th December, 2025. The shares are actively traded on the BSE and the NSE and have not been suspended from trading.

The Company has not issued any shares with differential voting rights or sweat equity shares during FY 2025-26. As of 31st March, 2026, none of the Directors of the Company hold any instruments convertible into equity shares of the Company.

7. Subsidiary, Holding, Joint Ventures and Associates

The entire pre demerger scheme equity share capital held by SKF India Limited in the Company was reduced and cancelled pursuant to the Scheme of Arrangement and the Company ceased to be wholly owned subsidiary of SKF India Limited.

The Company does not have any Subsidiaries, Joint Ventures and Associates companies, accordingly the disclosure in Form AOC 1 pursuant to provisions of Section 129 (3) of the Act read with Rule 5 of Companies (Accounts) Rules, 2014 as amended, is not applicable to the Company for FY 2025-26.

8. Awards and Accolades:

Your Directors are pleased to share that during the year under review, your Company continued its tradition of excellence and was honored with several awards and recognitions, reaffirming its strong foothold in the Indian manufacturing industry. The following are some of the notable achievements:

Key Recognitions: FY 2025-26

Quality Excellence and Poka-Yoke

• 18th CII Poka-Yoke Competition 2025: Secured Platinum Awards for alarm and shutdown-type error-proofing solutions.

• Control-type Poka-Yoke: Earned Gold and Silver recognitions for meticulous implementation of error-proofing standards.

• CII Champion Trophy: Recognised with Jury Champion Awards specifically in Poka-Yoke categories.

Continuous Improvement and Kaizen

• CII National Kaizen Competitions (52nd & 54th): Won multiple Gold and Silver Awards across renovative, breakthrough, innovative, and restorative categories.

• CII Challenger Trophy: Earned Star, Jury, and Super Challenger Awards across diverse themes including restorative, control, and MURI.

• CII Champion Trophy: Achieved Star and Jury Champion Awards for excellence in driving systematic improvement initiatives.

• QCFI Kaizen Competition (Pune): Awarded Gold for high-impact case study presentations.

Quality Circles and Operational Excellence

• CCQC Competition (QCFI, Pune): Secured multiple Gold Awards for case studies, alongside Silver and Bronze recognitions for poster and slogan categories.

• 39th National Convention on Quality Concepts (NCQC 2025): Honoured with Excellence and Par Excellence Awards for quality circle initiatives.

• NCQC 2025 Projects: Earned multiple recognitions for demonstrating excellence in quality circle execution.

Energy and Sustainability

• Energy Conservation Competition 2025 (QCFI, Pune): Won multiple Gold and Silver Awards for initiatives focused on operational energy efficiency.

• Sustainability Communication: Earned Gold Awards in slogan and poster categories for effectively promoting environmental awareness.

• Leadership & Excellence Awards 2026: Named ‘Best Sustainability in Manufacturing, validating our commitment to responsible operations.

Innovation and Digitalisation

• 20th CII 3M Competition: Achieved Platinum and Gold Awards for MUDA (waste reduction) and MURI (process optimisation) improvements.

• CII Digitalisation Forums: Recognised for pioneering AI-driven improvements and digital transformation in quality processes.

• Leadership & Excellence Awards 2026: Earned recognition for ‘Digital Innovation in Operations.

• 20th ACMA Regional Quality Circle Competition:

Awarded for the ‘Most Innovative Solution.

Safety and International Recognition

• ICQCC Taiwan: Earned a Gold Award at the 50th International Convention on Quality Control Circles, benchmarking our quality practices against global standards.

• QCFI Safety Week: Won multiple Gold Awards across case study, poster, slogan, and skit categories, alongside Silver and Bronze recognitions for safety awareness programmes.

9. Managements Discussion and Analysis and

Outlook:

As required under Regulation 34(2) of the SEBI

Listing Regulations, the Managements Discussion and Analysis (MDA) Report giving the details on review of operations, performance, opportunities, and outlook of the Company, as required under Corporate Governance guidelines forms part of the Annual Report as Annexure-A.

The State of Affairs of the business, along with the financial and operational development, has been discussed in detail in the Management Discussion and Analysis Report.

10. Corporate Governance

During the year under review, the Company complied with the provisions relating to corporate governance as provided under the SEBI (Listing Obligations Disclosure Requirement) Regulation ("SEBI LODR"). The Corporate Governance Report, together with a certificate from the Companys Statutory Auditors confirming the compliance is provided in the Report on Corporate Governance, which forms part of the Annual Report as Annexure-B.

11. Board Meetings, Board of Directors, Key Managerial Personnel and Committee of Directors:

During the year under review, your Company has made changes in its Board of Directors and Key Managerial Personnel as it transitioned into an independent entity following the demerger of Industrial business. The details are mentioned below:

a) Resignation of Directors:

Mr. Dinesh Verma (DIN: 09771230) and

Mr. Shailesh Sharma (DIN: 09493881) resigned as Non-Executive and Non-Independent Directors of the Company effective from 30th September, 2025. The Board places on record its appreciation for the valuable contributions made by Mr. Dinesh Verma and Mr. Shailesh Sharma during their tenure as Non-Executive and NonIndependent Directors of the Company.

b) Appointment of Directors:

Board of Directors have made following appointments w.e.f. 1st October, 2025 -

• Mr. Mukund Vasudevan (DIN: 05146681) as Managing Director

• Mr. Sujeeth Pai (DIN:07763929) as, Whole Time Director

• Mr. Ajay Naik (DIN: 07127264) as, NonExecutive Director

• Mr. Karl Robin Joakim Landholm (DIN: 09651911) as, Non-Executive Director

• Mr. Gopal Subramanyam (DIN: 06684319) as, Non-Executive, Independent Director

• Ms. Anu Arun Wakhlu (DIN: 00122052) as Non-Executive, Independent Director on the Board

None of the Directors are debarred or disqualified from holding the office of Director by virtue of any order issued by SEBI or any other such authority(ies). Further, they are not related to any of the Directors or Key Managerial Personnel or Promoters of the Company.

The shareholders approved the above appointments made by Board of Director in the Extra Ordinary General Meeting held on 15th October, 2025.

c) Retire by Rotation:

According to the provisions of section 152(6) of the Companies Act, 2013, Mr. Sujeeth Pai is liable to retire by rotation as he has been the longest in office since his last appointment on 1st October, 2025. Mr. Sujeeth Pai being eligible has offered himself for re-appointment as a Director of the Company. A brief profile of Mr. Sujeeth Pai seeking appointment/ reappointment as Director(s) at the 2nd Annual General Meeting of the Company is attached to the Notice of the Annual General Meeting sent to the shareholders.

d) Appointment of Key Managerial Personnel:

(i) Mr. Mukund Vasudevan (DIN: 05146681) appointed as the Managing Director (Key Managerial Personnel) with effect from 1st October, 2025 to hold the office for a period of five years i.e., till 30th September, 2030. Necessary shareholder approval was obtained by the Company in the Extra Ordinary General Meeting held on 15th October, 2025.

(ii) Mr. Sujeeth Pai (DIN: 07763929) appointed as Whole Time Director, (Key Managerial Personnel) with effect from 1st October, 2025 to hold the office for a period of five years i.e., till 30th September, 2030. Necessary shareholder approval was obtained by the Company in the Extra Ordinary General Meeting held on 15th October, 2025.

(iii) Mr. Ashish Saraf, appointed as Chief Financial Officer of the Company with effect from 1st October, 2025.

(iv) Mr. Ranjan Kumar, appointed as the Company Secretary and Compliance Officer with effect from 1st October, 2025. He resigned from the office of the Company Secretary and Compliance Officer of the Company with effect from 31st January, 2026.

(v) Ms. Poorva Bang, appointed as the Company Secretary and Compliance Officer of the Company with effect from 3rd February, 2026.

During the year under review and till the date of this meeting, apart from the above-stated facts, there was no change in the composition of the Board of Directors and Key Managerial Personnel of the Company.

e. Declaration From Independent Directors:

Pursuant to the provisions of Section 149 of the Act, the Independent Directors of the Company, Mr. Gopal Subramanyam (DIN: 06684319) and Ms. Anu Arun Wakhlu (DIN: 00122052), have submitted declarations that each of them meets the criteria of independence as provided in Section 149(6) of the Act along with Rules framed thereunder and Regulation 16(1)(b) and 25(8) of the SEBI LODR. They are also in compliance with Rule 6 (1) and (2) of the Companies (Appointment & Qualifications of Directors) Rules, 2014. There has been no change in the circumstances affecting their status as Independent Directors of the Company.

The Independent Directors have complied with the Code for Independent Directors prescribed in Schedule IV to the Companies Act 2013 as well as the Code of Conduct for Directors and Senior Management Personnel.

The Board of Directors of the Company is of the opinion that the Independent Directors possess a high level of integrity, expertise, and experience, which are beneficial to the Company and its stakeholders.

f. Board and its Committee Meetings:

Details of the Board Meeting and other Committees held during the financial year 202526 are stated in Corporate Governance Report which is forming part of this Annual Report.

The Board has constituted the following committees -

• Audit Committee

• Nomination and Remuneration Committee

• Stakeholder Relationship Committee

• Risk Management Committee

• Corporate Social Responsibility Committee The composition of each of the above Committees, their respective roles and responsibilities are provided in the Corporate Governance Report, which is forming part of this Annual Report.

g. Board Evaluation and Criteria for Evaluation:

The Board of Directors has carried out an annual evaluation of its own performance, the Board Committees, and individual directors pursuant to the provisions of the Act and SEBI LODR, as amended from time to time.

The process followed for Board evaluation includes:

i) Feedback is sought from each Director about their views on the performance of the Board (as a whole)/Committees/Independent Directors/ Chairman/self-assessments, covering various relevant criteria such as degree of fulfilment of key responsibilities, effectiveness of Board processes, participation levels, culture, strategy, risk management, Corporate Governance and responsibilities to various Committees, etc.

ii) The Nomination and Remuneration Committee (NRC) then discusses the above feedback received from various Directors, including the assessment of individual directors by the Chairman.

iii) The Independent Directors (post their meeting) share their collective feedback on the performance of the Board with the Board Members.

iv) Significant highlights, learnings, and action points arising out of the evaluation are presented to the Board and action plans are drawn up wherever required.

The Directors express their satisfaction with the entire evaluation process.

h. Policies

The Company has adopted all policies as required under the provisions of the Act and the SEBI (Listing Obligation & Disclosures) Regulations, 2015. The same are available on the website of the Company at -https://www.skf.com/in/investors/skf-india-industrial-ltd/shareholder-information

i. Recommendations of the Audit Committee and Other Committees:

All the recommendations of the Audit Committee and other Committees were accepted by the Board.

j. Meeting amongst Independent Directors

During the year under review, the Independent Directors of the Company met separately on 16th March, 2026, to review the performance of Non-Independent Directors, Chairperson of the Company, and the Board of the Company and to assess the quality, quantity and timeliness of the flow of information between the Management of the Company and the Board.

Both the Independent Directors attended the meeting.

k. Familiarisation Programme:

The details of the training and familiarisation programme are provided in the Corporate Governance Report annexed hereto as Annexure-B and is also available on the Companys website at https://cdn.skfmediahub. skf.com/api/public/098d1d3ec5251542/pdf preview medium/Familiarization Programme of Independent Directors 2025-26 pdf preview medium.pdf

l. Appointment of Directors and Remuneration Policy:

The Company has in place a policy for the remuneration of Directors, Key Managerial Personnel, and Senior Management Team as well as a well-defined criterion for the selection of candidates for appointment to the said positions. The Appointment of Directors and Remuneration Policy is available on the Companys website at https://cdn.skfmediahub.skf.com/api/ public/091b5affae560742/pdf preview medium/Policy for appointment and remuneration for Directors pdf preview medium.pdf

m. Audit Committee:

The Audit Committee is constituted in terms of the requirements of Section 177 of Companies Act, 2013 and Regulation 18 of SEBI (Listing Obligation and Disclosure Requirements), 2015, it comprises of 3 (three) members.

The Committee is chaired by Ms. Anu Arun Wakhlu (Independent Woman Director). The other Members of the Committee are Mr. Gopal Subramanyam (Independent Director) and Mr. Ajay Naik (Non-Executive, Non-Independent Director). Two-third members of the Committee are Independent Directors.

Details of the roles and responsibilities of the Audit Committee, the particulars of meetings held, and the attendance of the Members at such meetings during the year are given in the Report on Corporate Governance, which forms a part of the Annual Report as Annexure-B

n. Corporate Social Responsibility Committee:

In accordance with the provisions of Section 135 of the Act and rules framed thereunder, even though the provisions of Corporate Social Responsibility were not applicable to the Company for the financial year 2024-25 and FY 2025-26, the Board of Directors have constituted a Corporate Social Responsibility Committee in terms of the requirements of the Section 135 of Companies Act, 2013, with effect from 1st October, 2025. The Committee comprises of 3 (three) members. The Committee is chaired by Mr. Mukund Vasudevan (Managing Director). The other Members of the Committee are Mr. Gopal Subramanyam (Independent Director) and Ms. Anu Arun Wakhlu (Independent Director). Two - third members of the Committee are Independent Directors.

Details of the roles and responsibilities of the Corporate Social Responsibilities Committee, the particulars of meetings held, and attendance of the Members at such meetings during the year are given in the Report on Corporate Governance, which forms a part of the Annual Report as Annexure-B.

CSR Policy is also disclosed on the website of the Company at https://cdn.skfmediahub.skf.com/ api/public/09d10cb26e063b49/pdf preview medium/Corporate Social Responsibility Policy pdf preview medium.pdf

o. Risk Management Committee:

The Companys Enterprise Risk Management (‘ERM) is a company-wide framework of methods and processes used to identify, assess, monitor and mitigate risks and seize opportunities related to achievement of the Companys business objectives. Major risks identified by the Business Divisions and Corporate Departments are systematically addressed through mitigating actions on a continuing basis. The Company has a Risk Management Committee in accordance with the requirements of LODR to, inter alia, monitor the risks and their mitigating actions. The Board of Directors of the Company has developed, adopted & implemented a Risk Management Policy in accordance with the provisions of the Act and Regulation 21 of the SEBI LODR. Risk Management Policy is hosted on website of the Company at https://cdn.skfmediahub. skf.com/api/public/09b580e4bd1daf4b/ pdf preview medium/Risk Management Policy-20260313145400 pdf preview medium. pdf

A section on risk management practices of the Company forms a part of the chapter on ‘Management Discussion and Analysis in this Annual Report as Annexure-A.

12. Safety/Sustainability Safety :

a) Safety:

SKF is committed to a vision of "Zero-Injury" for everyone working at its sites and for those engaged off-site. Safety is our foremost concern, and we firmly believe that all work-related incidents are preventable.

Health and Safety Management continues to be the Companys top priority, with safety embedded in our strategy and daily operations. We place strong emphasis on the welfare of our employees, ensuring a safe and healthy environment free from injuries, accidents, and occupational health hazards.

To support this commitment, SKF has adopted a structured approach in EHS management system where we implement safety Policies and programmes that integrate safety into business processes, driving continual improvements in safety performance.

Our safety strategy is anchored around 3 focus areas:

1. Safety Pyramid

2. Machine Safety

3. Continual Improvement

SKF is certified to ISO 45001:2018, ensuring compliance with the standards. Our aim is to set benchmarks that exceed certified management systems, and we actively share our safety standards and experience with operators, contractors, and professional organisations. Safety risks are managed across all business units using robust standards, controls, and compliance systems, with particular focus on the use of the "Safety Pyramid" to drive proactive reporting and following up on first aids, near- miss, unsafe condition and unsafe behaviour. Lessons learnt are shared across units for horizontal deployment.

Structured programs are maintained to strengthen a robust safety culture throughout our factories, Sales Offices, Warehouses, and project sites. SKF has kick-start on the machine safety "investment-ready concept" programme in which no new investment is approved unless mandatory management training on introduction to machine safety is fulfilled and minimum 3 machine risk assessments to be conducted by qualified machine safety experts. Consequently, the ambition is to have year-on-year improvement in the number of risk assessments conducted according to ISO machine standards and corrective actions taken for all our machines.

We have begun mapping employees safety competency to identify areas for improvement and enhanced skills and knowledge through our KUSHAL Training Centre. Recently, the inauguration of the "Safety Skill Center" at our Pune site further reinforces the importance of workplace safety and our goal of achieving zero injuries. Training and awareness remain central to our safety strategy, and our EHS practices and policies are communicated to contractors and suppliers, ensuring alignment with our safety requirements.

In addition, SKF commemorates National Safety Month and World Environment Day at all sites, actively engaging stakeholders in these initiatives.

The Company has reported no recordable accident. The continued positive trend in reporting unsafe conditions, behaviors, near-miss and first aid incidents underscores our increased vigilance and responsiveness to safety risks.

SKF prioritizes safety in every business decision, ensuring that employees health and well-being remain at the core of its operations.

b) Sustainability:

Sustainability remains central to SKFs vision of building an Intelligent and Clean SKF. More than an environmental commitment, sustainability is deeply embedded into our business strategy, operational excellence, innovation roadmap, and customer value proposition.

At SKF, sustainability drives how we design products, optimize manufacturing, engage suppliers, and create differentiated value for customers by enabling lower lifecycle emissions, improved resource efficiency, supply chain resilience, and responsible growth.

Our strategy is anchored around three focus areas:

• Climate Transformation

• Circularity

• Responsible Business

Through our Green Manufacturing Initiative, we are driving measurable progress toward:

• Net Zero GHG emissions

• Zero Waste to Landfill

• Water Neutrality

• Product and Process Circularity

These initiatives are designed not only to reduce environmental impact across our operations and value chain, but also to strengthen business competitiveness and support our customers in achieving their own sustainability ambitions.

Sustainability as a Business & Customer Enabler

Sustainability is increasingly becoming a key customer expectation and a critical factor in supplier selection. SKFs sustainability initiatives enhance customer centricity by enabling us to:

• Deliver products manufactured with lower embedded carbon

• Improve supply chain transparency and ESG compliance

• Support customers in reducing operational energy consumption

• Enable circular product solutions that extend asset life

• Strengthen reliability through resource-efficient manufacturing

• Create long-term value through responsible and resilient operations

By integrating sustainability into our core business processes, SKF is creating solutions that are not only technologically advanced but also aligned with the evolving ESG priorities of customers across industries.

Key Strategic Interventions

To achieve these goals, SKF has implemented focused initiatives across all manufacturing sites:

• Fossil fuel elimination to reduce Scope 1 emissions

• Energy efficiency improvements and renewable energy sourcing to reduce Scope 2 emissions

• Supply chain, logistics optimization to reduce Scope 3 emissions

• Water conservation and zero-discharge systems

• Reduction in oil and chemical consumption

• Waste elimination through reuse, recycling, and reprocessing

SKF remains committed to the Science Based Targets initiative, with ambitious targets of:

• 100% manufacturing decarbonization by 2030

• Net Zero across the full value chain by 2050 Decarbonisation Progress

Our Pune and Bangalore factory have achieved their decarbonisation status which means reducing the overall emissions (Scope 1 + Scope 2) by more than 95% based on the Group threshold level.

Renewable Energy Progress

As a topmost priority, SKF built 100% renewable energy sourcing capabilities in the form of various wind and solar projects to ensure Scope 2 emissions are eliminated for all manufacturing sites ensuring adherence to RE100 standards. SKF has sourced 100% of manufacturing energy from renewable sources.

This transition strengthens operational resilience while enabling lower-carbon products for customers.

Supply Chain Decarbonization

Recognising Scope 3 emissions as a critical lever, SKF is actively collaborating with suppliers to improve

ESG performance and build a more responsible supply ecosystem.

Key actions include:

• ESG assessment of suppliers

• Supplier capability-building workshops

• Deployment of long-term GHG reduction roadmaps- sourcing from low carbon intensive supplier, use of secondary steel materials etc

The target is to reduce the Scope 3 Purchased Material emissions by 35% by 2030 from 2019 levels. This strengthens supplier capability while improving value chain sustainability for our customers.

Sustainable Logistics

SKFs logistics team is driving initiatives to reduce emissions by 32% by 2030 (base year: 2019) through:

• Air freight reduction projects

• Lane optimization

• Last-mile road transport reduction initiatives

• Improving CNG fleet

These initiatives reduce emissions while improving delivery efficiency and service reliability.

Water Stewardship

With manufacturing facilities located in water- stressed regions, water stewardship remains a strategic priority.

Progress includes:

• Bangalore site is certified 2 times water positive

• Zero discharge through ETP and STP reuse systems

• Expanded rainwater harvesting and storage infrastructure

SKF is committed to achieving water neutrality across all sites by 2028.

Circularity in Operations

Circular manufacturing practices continue to deliver measurable business and environmental benefits:

• Reconditioning and reuse of hydraulic oil at Pune through Recond oil system

• Coolant recovery and sludge recycling across sites

• 100% Grinding dust recycling at Bangalore and co-processing at Pune

• Grinding allowance optimisation projects across certain bearing types in Pune

These efforts improve material efficiency, reduce operational costs, and strengthen circular value creation.

Waste & Packaging Optimization

To reduce packaging-related waste, SKF has implemented:

• Packaging optimization projects with suppliers and customers

• "Segregation at Source" across manufacturing sites and offices

• Elimination of Single use plastic across sites

• Plastic recycling under Extended Producer Responsibility (EPR)

• Achieved over 80% recycling of total waste generated across sites

Sustained Investment

As a responsible business, SKF continues to invest in:

• Renewable energy infrastructure

• Energy efficiency projects

• Sustainable manufacturing technologies

• Long-term transformation initiatives

Our focus for FY 2025-26 is clear: to continue our decarbonization journey, deepen circularity, and embed sustainability further into every business decision.

By integrating sustainability into our core business strategy, SKF is not only reducing environmental impact but also enhancing customer value, strengthening competitiveness, and enabling a more resilient and future-ready industrial ecosystem.

SKF has committed itself to Science Based Targets Initiatives (SBTI) for Net Zero GHG emission program.

13. Internal Controls with Respect to Financial Statements:

The Company has proper and adequate policies and procedures in place. These procedures ensure reliability and efficient conduct of business. Periodic review and control mechanisms ensure the effectiveness and adequacy of the internal control systems that the Company operates in. Additionally, it views internal audit as a vital part of management control systems.

It helps keep the management informed about the existence and efficacy of the control systems and processes in the organisation.

The management has implemented an effective 3 (three) lines of defence to monitor controls - first at the Management level, second by implementing an effective internal control system monitored by the Internal Controls team and, third by Internal Audits. The Company, during the year, reviewed its Internal Financial Control (IFC) systems. It continually worked towards establishing a more robust and effective IFC framework. Being part of the SKF Group, the Company adheres to SICS (SKF Internal Control Standards). This is a customised control system required to be adhered to, across the globe, by all SKF companies. The standards specified by SICS are an integral part of the standard operating procedures for all business functions.

A great extent of emphasis is placed on having compensating controls within the process, minimising deviations and exceptions. The Internal Controls team verifies the existence of adequate controls and test them. The Internal Audit function conducts Process Audits.

The Company also undergoes periodic audits by specialised external professional firms. Risks/ improvement areas, identified in the audits, are reviewed and mitigation plans are put in place. The status of implementation of action plans for major observations is submitted to every Audit Committee for review.

The Audit Committee reviews reports submitted by the management and audit reports submitted by Internal and Statutory Auditors. The Audit Committee also meets Statutory Auditors to ascertain, inter alia, their views on the adequacy of internal control systems. Based on the Committees evaluation, it was concluded that as of 31st March, 2026, the internal financial controls were adequate and operating effectively.

The Company has complied with the specific requirements as laid out under Section 134(5)(e) of the Companies Act, 2013. It calls for the establishment and implementation of an Internal Financial Control framework that supports compliance with the requirements of the Act concerning the Directors Responsibility Statement. Adequacy of controls of the processes is also being reviewed by the Internal Controls function. Suggestions to further strengthen the processes are shared with the respective process owners. Any significant findings, along with management response and status of action plans, are periodically shared with and reviewed by the Audit Committee.

14. Financial Statements:

The financial statements of the Company for FY 202526 are prepared in compliance with the applicable provisions of the Companies Act, 2013 (‘the Act) including Indian Accounting Standards specified under Section 133 of the Act. The audited standalone Financial Statements together with the Auditors Report thereon forms part of the Annual Report of FY 2025-26.

The Financial Statements of the Company are available on the website of the Company, which can be accessed at https://www.skf.com/in/investors/ skf-india-industrial-ltd/financial-results in the ‘Board Outcome and Financial Results section.

15. Material changes and commitments if any, affecting the financial position of the Company:

There have been no material changes and commitments affecting the financial position of the Company that have occurred between the end of the financial year of the Company i.e. 31st March, 2026 to which the financial statements relate and up to the date of this report.

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

16. Directors Responsibility Statement:

To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors make the following statement in terms of Section 134(5) of the Act:

a) in the preparation of Annual Accounts for the year ended on 31st March, 2026, the applicable accounting standards have been followed and there are no material departures

b) Appropriate accounting policies have been selected and applied them consistently. And made Judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as of 31st March, 2026, and of the profit of the Company for the period ended 31st March, 2026.

c) 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) Annual accounts of the Company have been prepared on a going concern basis

e) Internal financial controls have been laid down and are being followed by the Company and that such internal financial controls are adequate and are operating effectively

f) Proper system to ensure compliance with the provisions of all applicable laws are in place and are adequate and operating effectively

17. Related Party Transactions:

In line with the requirements of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR"), the Company has formulated a Policy on Related Party Transactions (Policy) which is also available on the Companys website at https://cdn. skfmediahub.skf.com/api/public/0952670989a77b41/ pdf preview medium/Policy on Related Party Transactions-20260313145359 pdf preview medium.pdf

The objective of the Policy is to ensure proper approval, disclosure, and reporting of transactions as applicable, between the Company and any of its related parties. The Audit Committee (only Independent Directors) of the Company has granted omnibus approval for the Related Party Transactions (RPTs) which are of repetitive nature and/or entered in the Ordinary Course of Business and are at arms length. The Audit Committee also reviews all RPTs on a quarterly basis in line with the omnibus approval granted by them.

Pursuant to Listing Regulations, the resolution for seeking approval of the members on material related party transaction(s) is being placed at the 2nd AGM of the Company.

The disclosure of particulars of contracts / arrangements entered into by the Company with related parties referred to in sub-section (1) of section 188 of the Act in Form AOC-2 pursuant to section 134(3)(h) of Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014 is set out in the Annexure-C to this Report.

None of the Directors and the Key Managerial Personnel have any pecuniary relationships or transactions with the Company.

A confirmation as to the compliance of Related Party Transactions as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is also sent to the Stock Exchanges along with the quarterly compliance report on Corporate Governance.

18. Vigil Mechanism/Whistle-blower Policy:

Your Company has framed a Vigil Mechanism Policy in confirmation with Section 177(9) of the Act and Regulation 22 of SEBI LODR wherein the employees are free to report any improper activity resulting in violation of laws, rules, regulations or code of conduct by any of the employees directly to the Chairperson of the Audit Committee besides others. The Boards Audit Committee oversees the functioning of this policy. The Audit Committee periodically reviews the existence and functioning of the mechanism. It reviews the status of complaints received under this policy on a quarterly basis.

The above mechanism has been appropriately communicated within the Company across all levels and the details of the policy have been disclosed on the Companys website and can be accessed on https://cdn.skfmediahub.skf.com/api/ public/09ebe387d032664d/pdf preview medium/ Vigil Mechanism Policy pdf preview medium.pdf

19. Business Responsibility and Sustainability Report (BRSR):

In terms of Regulation 34 (2) (f) of the SEBI LODR, the Business Responsibility and Sustainability Report (BRSR) is not applicable to the Company.

20. Deposits from Public

The Company has not accepted or renewed any deposits falling under the ambit of Chapter V of the Companies Act, 2013 and the Rules framed thereunder. No amount on account of principal or interest on deposits from the public was outstanding as of 31st March, 2026.

The Company has not accepted any deposits which are not in compliance with the requirements of Chapter V of the Act.

Further the Company has not accepted any money from its directors or relatives of Directors during the Financial Year 2025-26.

21. Statutory Auditors

At the 1st Annual General Meeting of the Company held on 19th September, 2025, M/s Deloitte Haskins and Sells LLP, Chartered Accountants (Firm Registration No.117366W/W-100018) were appointed as Statutory Auditors of the Company for a term of 5 (five) consecutive years till the conclusion of the 6th Annual General Meeting of the Company to be held in the FY 2030-31, on such remuneration as may be decided by the Audit Committee / Board of Directors of the Company from time to time.

M/s Deloitte Haskins and Sells LLP, Chartered Accountants (Firm Registration No. 117366W/W- 100018), /have submitted their Report on the Financial Statements of the Company for the FY 2025-26, which forms a part of the Annual Report of FY 2025-26. There are no observations, qualifications, reservations, adverse remarks or disclaimers of the Auditors in their Audit Reports that may call for any explanation from the Board of Directors.

22. Secretarial Auditor and Secretarial Audit Report:

In terms of the provisions of Section 204 of the Act read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors, have appointed M/s J. B. Bhave & Co., Company Secretaries, as the Secretarial Auditor for conducting Secretarial Audit of the Company for financial year 2025-26.

Further, based on the recommendation of the Audit Committee and subject to the approval of the Members of the Company to be sought at the ensuing 2nd Annual General Meeting of the Company held on 12th May, 2026, the Board of Directors of the Company at its meeting held on 12th May, 2026 has appointed M/s J. B. Bhave & Co., Company Secretaries as the Secretarial Auditors of the Company for the five consecutive years i.e., from FY 2026-27 till FY 203031, as required under Regulation 24A of SEBI LODR. The Secretarial Auditors have submitted their report for the financial year ended on 31st March, 2026, in Form No. MR-3 which is enclosed as Annexure-D with this Report. The Secretarial Audit Report is self-explanatory and does not call for any further comments. The Secretarial Audit Report does not contain any qualification, reservation/observation, or adverse remarks in the Secretarial Audit Report. During the year under review, the Company is in compliance with the applicable Secretarial Standards, specified by the Institute of Company Secretaries of India (ICSI). A certificate from M/s J. B. Bhave & Co., Company Secretaries regarding compliance with sub-regulation 10(i) of regulation 34(3) of Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 also forms part of this Annual Report as Annexure-E.

The Company has received an Annual Secretarial Compliance Report from M/s Ruchi Bhave, Practising

Company Secretaries for the Financial Year ended 31st March, 2026 and it was be submitted to the stock exchange(s)

23. Cost Records and Cost Auditor:

a) Maintenance of Cost Records

The Company has maintained the cost records under Section 148(1) of the Act read with Companies (Cost Records and Audit) Rules, 2014

b) Cost Audit

In terms of Section 148 of the Act read with Companies (Cost Records and Audits) Rules, 2014, M/s Joshi Apte & Associates, Cost Accountants (Firm Reg. No. 000240), Cost Accountants were appointed as Cost Auditors of the Company for FY 2025-26 by the Board of Directors. The Cost Auditors had confirmed by giving their written consent that their appointment meets the requirement of Section 141 of the Companies Act, 2013.

The Cost Audit Report for the FY 2025-26 Company will be filed with the Ministry of Corporate Affairs on or before the due date. Further, based on the recommendation of the Audit Committee, the Board of Directors of the Company at its meeting held on 12th May, 2026 has appointed M/s Joshi Apte & Associates, Cost Accountants as the Cost Auditors of the Company for the financial year 2026-27.

As per the provisions of the Companies Act, 2013, the remuneration payable to the Cost Auditor, as approved by the Board of Directors on the recommendation of the Audit Committee, is required to be placed before the Members in a general meeting for their approval. Accordingly, a resolution for seeking Members approval for the remuneration payable to M/s Joshi Apte and Associates, Cost Auditor for FY 2026-27 is included in the Notice convening the 2nd Annual General Meeting.

24. Reporting of Fraud by Auditors:

During the year under review, neither the Statutory Auditors nor the Secretarial Auditor nor the Cost Auditor has reported to the Audit Committee of the Board, under Section 143(12) of the Act, any instances of fraud committed against the Company by its officers or employees, the details of which would need to be mentioned in this Report.

25. Significant and material orders passed by the Regulators or Courts or Tribunals

During the FY 2025-26, on the application of the Company, the Honble National Company Law Tribunal, Mumbai Bench, approved the scheme of arrangement between SKF India Limited (‘demerged company) and SKF India (Industrial) Limited (‘resulting company) and passed the order for approving the scheme of arrangement on 26th September, 2025. Other than the above order, no other significant and material order(s) were passed by the Regulators or courts or tribunals.

26. Particulars of Employees:

The information required under Section 197(12) of the Act read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is attached as Annexure-F to this Report.

The statement containing names of the top 10 employees, in terms of remuneration drawn and the particulars of employees as required under Section 197(12) of the Act read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided in a separate annexure forming part of this report. Further, the report and the accounts are being sent to the Members, excluding the aforesaid Annexure. In terms of Section 136 of the Act, the said Annexure is open for inspection and any member interested in obtaining a copy of the same may write to the Company Secretary at industrialindia@skf.com.

There were no instances of remuneration or commission received by a managing or whole-time director from the Companys holding or subsidiary company during the relevant financial year requiring disclosure under section 197(14) of the Companies Act, 2013.

None of the employees listed under the said rules are related to any Director of the Company.

27. Industrial Relations:

The Company enjoys harmonious and healthy industrial relations due to its vibrant work culture and believes in a collaborative approach at work. This mutual trust and caring spirit helps in maintaining a harmonious environment across all business units. The enthusiasm and unstinting efforts of employees have enabled the Company to remain in the leadership position in the industry.

28. Transfer of Equity Shares / Unpaid and Unclaimed Amounts to IEPF:

Pursuant to the provisions of Section 124 of the Companies Act, 2013 read with Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (IEPF Rules) and subsequent amendment thereof, the amount of dividends, which remained unpaid or unclaimed for a period of seven years from the due date, is required to be transferred by the Company to the Investor Education and Protection Fund (IEPF) established by the Central Government.

During the year under review, the Company has not declared any Dividend hence there were no instances requiring the Company to transfer any amount or shares to the Investor Education and Protection Fund ("IEPF") pursuant to the provisions of Section 124 and other applicable provisions of the Companies Act, 2013 read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.

However, pursuant to the Scheme of Arrangement between SKF India Limited ("Demerged Company") and SKF India (Industrial) Limited ("Resulting Company" or "the Company"), the Company allotted equity shares in the ratio of 1:1 to the existing shareholders of the Demerged Company. Correspondingly, equivalent shares of the Resulting Company were also allotted in respect of the shares held by the IEPF Authority pertaining to the Demerged Company.

Accordingly, pursuant to the provisions of Rule 6(8) of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 read with Section 124(6) of the Companies Act, 2013, the Company has credited the benefits accruing in the form of such allotted shares due to Demerger Scheme, to the DEMAT account of IEPF Authority.

29. Particulars of Loans, Guarantees or Investments:

The particulars of loans given, investments made or guarantee/security provided are disclosed in the financial statements. No fresh loan was given during the financial year under report. The Company did not give any guarantee or provide any security in connection with any loan.

Please refer Note 6 of financial statements for loans under Section 186 of the Companies Act, 2013.

30. Annual Return:

Pursuant to the provisions of Section 92(3) read with Section 134(3)(a) of the Act, a copy of the annual return of the Company for the Financial Year ended 31st March, 2026 has been placed on the website of the Company. The same can be accessed by any person through the below given weblink: https:// www.skf.com/in/investors/skf-india-industrial-ltd/ shareholder-information.

31. Policy on Prevention of Sexual Harassment at Workplace:

At SKF Industrial, we strive to create an environment where there is no discrimination between individuals at any point on the basis of race, colour, gender, religion, political opinion, national extraction, social origin, or age.

The Company has in place a Prevention of Sexual Harassment Policy. This is in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. All employees (permanent, contractual, temporary, and trainees) are covered under this policy.

The Company has complied with provisions relating to the constitution of the Internal Committee (IC) under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 to redress complaints received regarding sexual harassment. This has been widely communicated internally and is uploaded on the Companys intranet portal.

Internal committees comprising management staff across locations and an external member are in place. These include a majority women members to redress complaints relating to sexual harassment. The employees are sensitised from time to time in respect of matters connected with the prevention of sexual harassment. Awareness programmes are conducted at unit levels to sensitise the employees to uphold the dignity of their colleagues at the workplace. The Company conducted an e-learning programme for white-collar employees and in-person training for Blue Collar employees for all factory locations in the local language during calendar year to cover various aspects of the subject matter:

Below are details of the Complaints:

Sr. No. Particular	Remark
1. Number of complaints of sexual harassment received in the FY 2025-26	5
2. Number of complaints disposed-off during the FY 2025-26	4
3. Number of complaints pending for more than 90 days	0
4. Number of Complaints pending as on end of the financial year	1

ICC Committee details are provided in the Posh Policy The PoSH Policy is available on the website of the Company: https://cdn.skfmediahub.skf.com/api/ public/0907827d07e79649/pdf preview medium/ Policy on Prevention of Sexual Harassment at Workplace pdf preview medium.pdf

32. Disclosure under Maternity Benefits Act, 1961

The Company complies with the provisions of the Maternity Benefits Act, 1961, ensuring that eligible women employees receive their statutory entitlements. These benefits reflect your Companys commitment in creating a compliant, inclusive and supportive workplace that prioritizes the health and well-being of expecting and new mothers.

33. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo

Pursuant to the provisions of Section 134 of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 the details of Conservation of Energy, Technology Absorption, Foreign Exchange Earnings, and Outgo are attached as Annexure-G to this Report.

34. Explanation or Comments on Qualifications, Reservations or Adverse Remarks or Disclaimers made by the Statutory Auditors, Secretarial Auditors

There were no qualifications, reservations or adverse remarks made by the Statutory Auditors in the Audit Report on the Standalone Financial Statements for the Financial year ended 31st March, 2026.

The Report of Secretarial Auditors for the Financial Year ended 31st March, 2026 is also unmodified.

35. Proceeding under Insolvency and Bankruptcy Code, 2016

No application or any proceeding has been filed against the Company under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) (IBC Code) during FY 2025-26.

36. The details of the difference between the amount of the valuation done at the time of the one-time settlement and the valuation done while taking a loan from the banks or financial institutions, along with the reasons thereof

During the year under review, the Company has not made any such settlement; therefore, the same is not applicable.

37. Code of Conduct for Board and Senior Management:

The Company has adopted the Code of Conduct for the Directors and Senior Management and the same is available on the Companys website: https://cdn. skfmediahub.skf.com/api/public/098f1e4dec9b6e43/ pdf preview medium/Code of Conduct for Directors and Senior Management pdf preview medium.pdf

All Directors and Senior Management personnel have affirmed their compliance with the said Code. A declaration pursuant to Regulation 26 (3) read with part D of the Schedule V of the SEBI LODR, 2015 signed by the Managing Director to this effect is annexed as a part of the Annual Report as Annexure-H.

38. Compliance with Secretarial Standards:

The Board of Directors, to the best of its knowledge, affirms that the Company has complied with the applicable Secretarial Standards (SS) issued by the ICSI (SS1 and SS2), respectively relating to Meetings of the Board and its Committees, which have mandatory application during the year under review.

39. Cautionary Statement:

Statements in this ‘Directors Report and ‘Management Discussion and Analysis Report describing the Companys objectives, projections, estimates, expectations, or predictions may be forward-looking statements within the meaning of applicable security laws and regulations. Actual results could differ materially from those expressed or implied.

Important factors that could make a difference to the Companys operations include raw material/ fuel availability and its prices, cyclical demand and pricing in the Companys principal markets, changes in the Government regulations, tax regimes, economic developments, unforeseen situations like pandemic within the country in which your Company conducts business and other ancillary factors.

40. Acknowledgements:

The Directors express their deep sense of gratitude to the Principals, Aktiebolaget SKF, customers, members, suppliers, employees, bankers, business partners/associates and all other stakeholders for their exemplary and valued contribution and look forward to their continued assistance in future.

	For and on behalf of the Board
	SKF India (Industrial) Limited
	Gopal Subramanyam
Date: 12th May, 2026	Chairman
Place: Pune	DIN: 06684319