DIRECTORS' REPORT

Your Directors take pleasure in presenting the Thirty-Sixth (36^th) Annual Report together with the Audited Financial Statements of your Company for the Financial Year (F.Y.) ended March 31, 2026. The Management Discussion and Analysis forms part of this Report.

DIVIDEND

Considering current fund requirements of the Company, the Board of Directors of the Company have not recommended any dividend.

DIVIDEND DISTRIBUTION POLICY

In accordance with Regulation 43A of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations'), the Board of Directors of the Company had formulated a Dividend Distribution Policy ('the Policy'). The Policy is available on the website of the Company at https://autostampings.com/wp-content/uploads/2022/04/dividend-distribution-policv.pdf.

TRANSFER TO RESERVES IN TERMS OF THE COMPANIES ACT, 2013

Your Company has not transferred any amount to General Reserve Account under the Companies Act, 2013. SHARE CAPITAL

The Paid-Up Equity Share Capital as on March 31, 2026 was ' 1,586.44 Lakhs comprising 15,864,397 Equity Shares of ' 10/- each. During FY 2025-26, your Company has neither issued any shares with differential voting rights nor has granted any Stock Options or Sweat Equity. As on March 31, 2026, none of the Directors or the Key Managerial Personnel of the Company holds any equity shares of the Company or instruments convertible into Equity Shares of the Company, except for below:

Mr. Krishna Dayma, Company Secretary, holds 1 (One) Equity Share of the Company MANAGEMENT DISCUSSION AND ANALYSIS Global Economy

In 2026, global economic growth is projected to 3.1%, reflecting increasing pressure from geopolitical conflicts

particularly in the Middle East and broad supply side disruptions. Growth in advanced economies will remain subdued, with the United States expanding by ~2%, the Europe area growing by 1.1%, and Japan recording growth of 0.7%. The growth for emerging market and developing economies is projected to be 3.9%, outperforming advanced economies despite higher energy and food prices. India continues to stand out, with growth projected at 6.5%, supported by strong domestic demand, public infrastructure investment, and favorable growth carry over, making it the fastest growing major economy globally.

The Global inflation projected at 4.4% due to energy, logistics, and commodity price shocks, alongside persistent services sector inflation. Consistent with this, the OECD projects G20 inflation at 4.0% in 2026. As a result, monetary easing is expected to be slower and more cautious, while fiscal policy remains constrained by elevated public debt levels and rising defense, energy security, and climate transition spending. EY Parthenon advises businesses to prepare for structural volatility by strengthening scenario based planning, supply chain resilience, cost discipline, and GenAI led productivity initiatives to sustain resilience and profitability through 2026.

Indian Economy

India's economy demonstrated strong resilience and continuity of growth during FY2026 despite a challenging global backdrop marked by geopolitical tensions and commodity price volatility. According to the International Monetary Fund (IMF), India's real GDP growth for 2026 is projected at 6.5%, maintaining its position as the fastest growing major economy globally, even as global growth moderated to about 3.1%.

In nominal terms, India's GDP is estimated at approximately USD 4.1 - 4.2 trillion. Movements in global GDP rankings largely reflect exchange rate effects and statistical revisions, rather than any weakening of domestic growth fundamentals.

Economic expansion in FY26 was supported by diversified and structurally improving growth drivers such as:

• Robust private consumption, led by sustained urban demand and gradual improvement in rural incomes

• Strong public capital expenditure, particularly in infrastructure, transport, power, and logistics

• Resilient services sector performance, driven by IT, business services, and financial services exports

• Manufacturing investment momentum, aided by policy initiatives such as Production Linked Incentive (PLI) schemes and supply chain diversification

Inflation remained moderate and well anchored. As per MoSPI, headline CPI inflation stood at 3.40% in March 2026, up marginally from 3.21% in February 2026, and comfortably within the RBI's target band of 2-6%.

Food inflation was 3.87%, while housing inflation remained subdued at 2.11%.

Key inflation and cost drivers affecting the automotive sector included:

• Elevated energy prices, increasing fuel, power, and logistics costs

• Volatility in metals and commodities, impacting steel, aluminium, and non ferrous inputs

• Selective food price pressures, affecting labour costs through rural inflation trends

• High precious metal prices, influencing two wheeler, electronics, and EV component costs

Manufacturing activity continued to expand, albeit at a slower pace. The HSBC India Manufacturing PMI, compiled by S&P Global, declined to 53.9 in March 2026 from 56.9 in February, marking the slowest expansion since mid 2022, though remaining firmly above the expansion threshold of 50.

The moderation reflected higher input costs, supply chain disruptions, and geopolitical uncertainty, even as year on year manufacturing output remained positive.

India's external position remained manageable and supported by strong services exports. RBI data shows that the current account deficit widened to USD 13.2 billion (1.3% of GDP) in Q3 FY26, driven primarily by a higher merchandise trade deficit. However, net services receipts rose to USD 57.5 billion, providing a strong offset.

On a cumulative basis, the CAD moderated to USD 30.1 billion (1.0% of GDP) during April-December 2025, compared with USD 36.6 billion (1.3% of GDP) in the corresponding period of the previous year.

INDUSTRY STRUCTURE AND DEVELOPMENTS

The auto industry registered a growth of 11.8% in FY26. The Passenger Vehicle segment, which includes passenger cars, vans and utility vehicles, registered a growth of 9.4%. Within this segment, the Utility vehicle market grew at 12.2%, the Van segment recorded a growth of 9.9%, and the Passenger Car segment grew by 4.4%. The Commercial Vehicle segment also registered a growth of 13.1%. Within the CV segment, the M&HCV segment registered a healthy growth of 16.1% and LCV segment registered a growth of 11.2%. The Two-wheeler segment registered a growth of 11.8% and Three-wheeler segments registered a growth of 23.9%.

The chart given below shows the production of various categories of vehicles during FY 2025-26 vis-a-vis FY 2024-25:

OPERATIONS

The Company manufactures sheet metal components, welded assemblies, steel and aluminium battery tray assemblies, aluminium cooling tubes, seat structures, and heavy fabricated parts. These products cater to a wide range of applications across the Passenger Vehicle, Commercial Vehicle, Electric Vehicle, two and three wheeler, and off road equipment segments.

The Company serves a diversified and reputed customer base, including Tata Motors Limited, Tata Motors Passenger Vehicles Limited (TMPVL), Tata Passenger Electric Mobility Limited (TPEML), Fiat India Automobiles

Private Limited, Ashok Leyland Limited, Piaggio Vehicles Private Limited, Tata Hitachi Construction Machinery Company Private Limited, M.L.R. Motors Limited, Octillion Power system and JCB Heavy Products Limited. In addition, the Company supplies to its Parent Company - Tata AutoComp Systems Limited (TACO) and TACO'S Joint Ventures & Subsidiary Companies such as, Tata AutoComp Gotion Green Energy Solutions Private Limited, TACO Air International Thermal Systems Private Limited, and Tata AutoComp Hendrickson Suspensions Private Limited.

Through our ongoing commitment to quality and service, Company looks forward to maintaining these working relationships, and forging new partnerships in the future.

With a continued commitment to growth and diversification, the Company has expanded both its product offerings and customer portfolio during the year. Further, a new vertical for Automotive Seat Structures has been successfully established, from where supplies have been initiated to TM Automotive Seating Systems Private Limited.

In line with its strategy to expand global reach, the Company has commenced servicing its global customer, TitanX, through Tata AutoComp- Supply Chain Solutions, thereby strengthening its international presence.

The Company also started the supply of Body-in-White (BIW) components to MG Motor India & will continue its efforts to increase the share of its business.

Currently, the Company operates five manufacturing facilities, located at Chakan I and Chakan II Pune (Maharashtra), Pantnagar (Uttarakhand), Sanand (Gujarat), and Jamshedpur (Jharkhand).

All manufacturing plants are certified to IATF 16949:2018, ISO 14001:2016, and ISO 45001:2016, reflecting the Company's strong focus on quality excellence, environmental management, and occupational health and safety.

OPPORTUNITIES:

a) Growth in Automotive Demand:

Indian automotive industry has grown by 11.8% in FY2026 over FY2025 showing a strong demand amongst the consumers. Growth in the EV segment is expected to continue its momentum during the upcoming fiscal year FY2027 with the launch of EV models by OEMs.

b) Growth in Export Business:

During the year, the company has started supplies to TACO synergy customers through TACO Supply Chain Solutions to the plants in Mexico & Poland. With start of supplies, there is potential growth opportunities further with synergy customers.

c) Affiliation with Market Leader:

The Company's Anchor Customers are Tata Motors Limited (CV segment) and Tata Motors Passenger Vehicles Limited (TMPVL), leading manufacturers in India. tMpVL has sold 6.41 Lakh units as against 5.66 Lakh units in Fiscal Year 2025 holding third position in the Indian market. Anchor customer has more than 50% market share in EVs.

Tata Motors Limited (CV segment) sold 4.08 Lakh units of commercial vehicles during Fiscal 2026, continued to be market leader in commercial vehicle segment with a market share of 35% in Fiscal Year 2026. The Company is associated with Tata Motors Limited (CV segment) and TMPVL (PV segment) in their growth journey as a reliable supplier.

d) Manufacturing Capability:

During the year, the Company developed the capability of manufacturing & supply of the battery trays and seat structures through robotic production lines for the first time. The Company established an in-house Friction Stir Welding (FSW) facility for aluminium battery tray applications, strengthening its manufacturing technology. The Company has expanded the manufcturing for battery trays for 3W segment for synergy business. The Company will continue to focus on expanding its EV related manufacturing capabilities in the coming years. This capability has enhanced customer engagement and opened new business opportunities in the automotive segment. The Company is actively pursuing towards automation of manual weld lines.

RISKS AND CONCERNS:

a) Concentrated Customer Base:

The Company derives majority of its revenue from TML (CV Segment) and TMVPL and is striving to increase the share of business with them in terms of volume and new products. The Company has intensified its focus to diversify its customer base by focusing on adding new business with other customers through new products and business development.

b) Rising Input Costs:

The products manufactured by the Company consume mainly steel, where prices continue to fluctuate. While the Customer adjusts the price fluctuation, there is continuous pressure for reduction in conversion and other costs. Also, the minimum wages at PAN India region has been inflated significantly in the current year. The Company has ongoing improvement initiatives to optimize cost through improving operational efficiency, yield improvement and SG&A cost reduction.

c) Skilled Manpower Availability:

The availability of trained manpower is a challenge particularly in the scenario of growing demand and further introduction of new wage code & geopolitical situation is creating a challenge of workmen getting migrated to different states. This is further compounding the shortage of skilled workmen.

The Company focuses on recruitment and in-house skill development to address this challenge. The Company has also undertaken the initiative to associate with service providers to have PAN India presence in recruitment and skilling. The Company is also focusing on productivity improvement through various continuous improvement drive.

d) Supply Chain and Volume fluctuation:

The schedule fluctuations emerged as a potential risk during FY2026. However, the Company was well-prepared through its established partnership arrangements with vendors, enabling effective scaling up or down of operations as required.

Company has systems in place to identify, assess, monitor and mitigate various risks. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuing basis. These are discussed regularly at the Risk Management Committee meetings and Board meetings.

KEY NOTES:

a) Sales have Increased by ?11,524 lakhs over last year (approximately 14.86%). As explained above, the improvement in the performance of Automotive Industry and consequent to higher off-take by our OEM customers have led to the increase.

b) The percentage of material consumption to sales has improved during this year due to prudent product mix (mainly new products) and new cost saving measures.

c) The percentage of employee cost to sales has been consistent as compared to last year, there has been an increase in absolute employee benefit expenses in line with higher sales, the impact of wage revisions and normal increments has been offset by continued focus on productivity improvements, operational efficiencies and rationalization measures. Additionally, improved price realization from new and existing products has supported the maintenance of employee cost ratios at level comparable to previous year.

d) The percentage of other expenses to sales has increased from the previous year FY 2024-25 mainly due to additional subcontract cost for new product program and cost inflations in consumable and other cost heads.

e) Finance costs have decreased mainly due to repayment of Inter-company deposits, and reduced interest rates as compared to previous year. In addition, better working capital management resulted in lower reliance on interest bearing fund, further supporting the reduction in finance costs.

f) The Company reported a significant improvement in total revenue. EBITDA also improved marginally reflecting the benefits of an improved product mix, better price realization and continued focus on cost rationalization, particularly in relation to raw material consumption.

DETAILS OF SIGNIFICANT CHANGES ( >25% and <-25%)

1. Debt-Equity ratio: The Company's debt-equity ratio improved significantly from 17.02 in the previous year to 3.44 during the current year, primarily due to substantial repayment of borrowings and retention of profits generated during the year.

2. Return on Equity ratio: The Return on Equity Ratio decreased from 24.58% to 1.23% during the year. While net profit after tax increased to INR 2,513.73, the ratio was impacted by a substantial rise in average shareholder's equity to INR 2,244.82, compared to INR 68.26 in the previous year.

3. Trade Payable turnover ratio: The Trade Payables Turnover Ratio improved consequent to improved Cashflow from operations and reduction in payment term, indicating improvement in working capital management.

4. Net Capital Turnover Ratio: The sharp movement in the ratio is primarily a mathematical outcome of the denominator (net working capital) converging towards zero, and does not indicate any deterioration in operational efficiency. The improvement in current assets during the year further corroborates the strengthening of the Company's short-term financial position.

5. Net Profit Margin: improvement is attributable to a combination of higher revenue volumes driven by increased market demand and process improvement achieved during the year. The increase in volumes enabled better absorption of fixed costs, while process rationalization contributed to reduction in per-unit operating cost.

6. Interest Coverage ratio: Earnings increased by approximately 50%, strengthening interest service coverage. Interest expenses reduced due to principal repayments and favorable market conditions resulting in lower interest rates.

7. Return on Networth: RONW declined from 184% to 75% primarily due to the transition of net worth from negative to positive. The earlier ratio was inflated by a low base. With profits retained, equity has strengthened, resulting in a more sustainable measure that reflects recovery and improved financial stability.

COMPANY'S OWN TECHNOLOGY / PROCESSES / SYSTEM IMPROVEMENT PLAN

The Company has made significant progress in automation by implementing robotic welding applications at four of its plants to meet increasing customer quality expectations and improve operational efficiency. Plans are in place to extend automation to additional manual welding operations. The conversion of manual welding processes to robotic welding has enabled improved product quality and reduced dependency on availability of skilled labour.

During the year, the Company developed aluminium welding capabilities for battery trays by installing a Friction Stir Welding (FSW) facility at its Pune location. In growing EV segment, Company is focusing on manufacturing technologies for Aluminum Battery trays, Aluminium stamping products & cooling plates/tubes which is an emerging technology in the EV field.

Additionally, the Company is equipped with in-house laser cutting and press brake manufacturing technologies to support the production of heavy fabrication parts.

SEGMENT-WISE PERFORMANCE

Your Company operates only in the Automobile Component Segment in the Domestic Market.

MATERIAL DEVELOPMENT IN HUMAN RESOURCES/INDUSTRIAL RELATIONS FRONT

The Company accords high importance to build and sustain healthy industrial relations with an aim of achieving competitive productivity & cordial work environment. The industrial relations continue to remain harmonious. Close interaction and cordial relations with the Union Committees and the workers is maintained all the time. With a view to enhance the involvement and remain focused, the Functional Heads/Departmental Heads of each manufacturing locations are involved in Plant Committees e.g. Works Committee, POSH Committee, etc. The Committees have equal representation from workmen, who are also involved in resolving issues and grievances in a time bound manner. All the wage settlements with the Union have been signed in a peaceful and amicable manner. The Company has HR help desk to resolve grievances/day-to-day issues of employees within time bound manner. This results in maintaining transparent culture and help to increase satisfaction level of the employees and overall increase in productivity and enhanced levels of faith and confidence in the Management.

At the end of March 31, 2026, your Company had 511 employees (excluding trainees and apprentices) as compared to 504 employees as on March 31, 2025.

Skill Development:

The Company recognizes skill development as a critical area for long-term value creation. Currently Skill Development Centre (SDC) is providing training to permanent operators and contractual manpower through well-trained Drona (Trainer) who are practically experienced & motivated Instructors. SDC helps the trainees

in building skill sets for multi-dimensional competencies so that the person is ready for work. The workmen are provided classroom, digital and physical training. Based on the evaluation and around 70% efficiency, the trainee is deployed on production lines. VR based skill development has also been started in the Company

Learning & Development Update:

The Company conducted its development interventions through 4 Learning Academies - 1. Management & Leadership Academy, 2. Operational Excellence Academy, 3. Technology & Product Leadership Academy and 4. Academy of Linguistics and Cross-Cultural Engagement.

Mandatory trainings for Cadre (Business Etiquettes, GD&T, PFMEA, AutoCAD, Industry 4.0, Gen AI)

Monthly Knowledge Nexus- Webinar conducted by the Company Leaders on topics like Digital technologies in Automotive, Customer Centricity, Customer Satisfaction, Automobile Thermal Engineering, Pillars of Industry 4.0, Electrical Vehicle System Integration and Applied Controls.

Monthly Induction is held which includes - Visit to CSR Projects, Tata Central Archive.

In addition to training programs employees participate in improvement projects through which they get a practical exposure.

Communication and Recognition:

The Company organizes monthly open forums in each location where updates are provided by senior management, achievements are celebrated in several forums including Monthly Chairman award, Quarterly Achievers forum award, Monthly Awards, Spot recognitions. This is helping to improve performance through a higher level of motivation amongst various employee groups.

FUTURE OUTLOOK

India's automotive sector is entering an investment led scale up phase, supported by sustained economic growth, strong domestic demand, policy stability, and a decisive shift by global and domestic OEMs to expand manufacturing footprints in India. With a population of approx. ~1.48 billion in India represents one of the world's largest long term automotive opportunities, particularly given its low passenger car penetration of ~33 cars per 1,000 people, leaving substantial headroom for demand expansion.

The Government of India's Automotive Mission Plan (AMP) 2047 continues to anchor the sector's long term vision of establishing India as a global automotive manufacturing and R&D hub. This vision is now being executed through PLI schemes for automobiles and auto components, FAME incentives for electric mobility, state level manufacturing policies, and improved ease of doing business frameworks, strengthening India's position as a competitive manufacturing, export, and sourcing base.

A defining shift in the current cycle is the acceleration of OEM investments. Multiple global and Indian automakers are expanding capacity, commissioning new plants, increasing localization, and committing multi year capital investments across passenger vehicles, commercial vehicles, EVs, and advanced powertrains. This includes investments in EV platforms, battery assembly, power electronics, lightweight materials, and digital manufacturing, significantly enhancing India's role in global automotive supply chains. These trends are generating strong multiplier effects for Tier 1 and Tier 2 suppliers, employment, and technology transfer.

OEMs scaling localized manufacturing of electric SUVs and commercial vehicles. However, challenges around EV financing, battery cell localization, critical mineral dependence, and charging infrastructure persist. Accelerating local manufacturing, recycling, and diversified sourcing will be critical to enable mass EV adoption in India.

Consumer preferences are also evolving rapidly. Demand is increasingly skewed toward SUVs, premium vehicles, and feature rich models, which now account for over 55% of passenger vehicle production, influencing OEM strategies across ICE, hybrid, and EV platforms. The rising acceptance of premium and electric SUVs is further reinforcing OEM investment decisions.

In summary, India's automotive industry has transitioned from a potential driven phase to a capacity and investment driven growth phase. Large scale OEM expansion, deeper localization, strong policy support, and premiumization of demand are creating sustained opportunities across the automotive value chain. Addressing

EV ecosystem gaps, supply chain resilience, financing bottlenecks, and tariff related uncertainty will be critical to positioning India as a global automotive manufacturing and innovation hub over the next decade

STATE OF COMPANY'S AFFAIRS

Discussion on state of Company's affairs has been covered as part of the Management Discussion and Company need to disclose composition of Audit Committee or else it need to mention that it is given in CG report.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has established the framework of Internal Financial Controls and Compliance systems. These are subject to audits conducted by the Internal Auditors and reputed Accounting and Auditing firm, which are reviewed by the Audit Committee regularly. Based on such reviews, the Board is of the opinion that the Company's Internal Company need to disclose whether the Board had not accepted any recommendation of the Audit Committee, the same shall also be disclosed in such report along with the reasons therefor. Controls were adequate and effective during the financial year 2025-26.

CONTRACTS AND ARRANGEMENT WITH RELATED PARTIES

Note No. 36 of the Financial Statements sets out the nature of transactions with Related Parties. During the year, all contracts / arrangements / transactions entered into by the Company with Related Parties are carried out in the Ordinary Course of Business and at Arm's Length. The details of the transactions are tabled before the Audit Committee, approved by it and reviewed on periodic basis. Further details on this are explained in the Notice convening Annual General Meeting (AGM). Material RPT entered during the year are attached as Annexure V in Form No. AOC-2, prescribed under the provisions of Section 134(3)(h) of the Act and Rule 8 of the Companies (Accounts) Rules, 2014.

During the year under review, the Company has taken necessary approval of Members for Material Related Party Transactions pursuant to SEBI Listing Regulations (as amended). Further fresh resolutions for material RPT have been included for your approval covering period from the ensuing AGM till AGM to be held in Calendar Year 2027.

Your Company has formulated a 'Policy on Related Party Transactions', which is also available on the Company's website at https://autostampings.com/storage/2022/07/Policv-on-dealing-with-Related-Partv-Transactions Apr-25-2026.pdf/.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Your Company was required to spend a certain amount as per Section 135 of the Companies Act, 2013 for the year under review. The details are available in the CSR Report annexed herewith as Annexure I. The Company has a CSR Committee constituted in terms of Section 135 of the Companies Act, 2013, which monitors the CSR activities undertaken by the Company as per CSR Policy. The CSR Policy has been uploaded on the website of the Company at https://autostampings.com/storage/2024/08/Corporate-Social-Responsibilitv-CSR-Policv.pdf

ENVIRONMENT, HEALTH AND SAFETY

The Company is dedicated to providing a Safe, Secure and Healthy Workplace, as outlined in its Health, Safety and Environment (HSE) policy, which forms an integral part of Company's overarching wellness strategy. A comprehensive approach to safety has been adopted, with the implementation of the “Total Safety Culture” concept across all Operational Plants.

Chakan -1, Chakan - 2, Pantanagar, Sanad, and Jamshedpur Plants have achieved certification for EMS ISO 14001:2015 and ISO 45001:2018, as well as recognition from the National Safety Council (NSC). Throughout the reporting period, all plants have placed particular emphasis on Wellness and Safety Initiatives, such as Safety Week Celebrations, Annual Medical Check-Ups, Road Safety Traffic Management within Plant Premises, and Blood Donation Camps. Daily wellness programs are conducted by Dispensary Staff and Monthly Programs overseen by the Group Chief Medical Officer.

The Company is currently in the process of implementing the TSHMS “Tata Safety Health Management System.” Internal audits of Safety walks & Behavior-Based Safety Culture (BBS) for Health, Safety, and Environment are conducted quarterly at all plants, resulting in consistently high ratings. Additionally, safety training and awareness

initiatives have been actively pursued throughout the year, with health check-ups and counselling sessions provided to employees by the Group Chief Medical Officer and other Competent Authorities.

Efforts to Strengthen Safety Protocols across all operations have been intensified, with regular Safety Drills and Audits conducted at all plants. Employees receive requisite safety training, and safety enforcement is rigorously monitored and same is effectively communicated to the employees and workers as well, through monthly Open Forum & Safety Committee Meetings.

Sensitization on safety is of paramount importance where in visible actions are taken for every entrant to the plant. This includes safety induction at Gurukul and plant under trained personnel. The safety committee regularly provides inputs. There is a separate guideline for visitors and external persons who come for repair and maintenance activity. This includes tool box talk, instructions on emergency evacuation.

The safety personnel are upgraded through trainings and encouraged to visit other companies to see and implement best practices. Senior safety officers from other companies visit the plants periodically to provide their inputs.

External Audits are conducted as per demand from statutory bodies. There is an allocated safety budget which is given highest priority. This is supplemented by a maintenance budget where in high priority is given to proximity sensors, robot programming and other equipment's which can enhance safety of personnel in the factory.

Implemented a Virtual Reality (VR) training system in Chakan Plant-1 for spot welding operations to strengthen safety awareness, enhance training effectiveness, and provide a risk-free learning environment for employees.

Chakan 1 plant procured a new ambulance during the year under review to strengthen on site emergency medical response and enhance employee health and safety preparedness.

Compliance with all recommendations issued under the CGWA NOC has been achieved as per the prescribed regulatory guidelines.

Presentations on Safety Improvements, Environment Mock Drills, and Environment Day Celebrations are conducted to foster a Safe and Healthy Work environment.

The Board of Directors receive regular updates on health, safety, and environmental matters, ensuring oversight and accountability at the highest level.

QUALITY INITIATIVES

All 5 of your Company's plants i.e., Chakan 1, Chakan 2, Pantnagar, Jamshedpur and Sanand are certified under IATF 16949 standards and have also obtained ISO 45001 certification for OHSMS.

The Company continues to adopt best practices based on the Tata Business Excellence Model (TBEM) to drive operational excellence across all functions.

Quality Month and Employee Engagement

The month of November was celebrated as “Quality Month” across all ASAL locations. Activities conducted during the month includes Quality Circle competitions, Kaizen contests, and poster and slogan competitions for both employees and their family members. Customers were also invited to address employees, share their insights on quality, and express the “Voice of the Customer.”

Total Quality Management (TQM)

Your Company has embarked on a Total Quality Management (TQM) journey with the goal of strengthening Daily Management, Policy Management, and Total Employee Involvement. Numerous improvement projects have been executed under this initiative, with active participation in external competitions such as those organized by CII and QCFI. Also launched quality circle register and form 48 quality circle team across the Company.

Technological Advancements and Quality Enhancements

An online quality monitoring pilot project was launched for the 1250T press machine to enhance real-time oversight and performance tracking.

In manufacturing advancements, a new Curvv Line was installed with Level 3 Poka-Yoke at all stations to ensure error-proofing. Additionally, a new Eturna Line, also equipped with Level 3 Poka-Yoke, was commissioned to further strengthen production quality and efficiency. During the year under review, the Company has also set up robotic welding line at Sanand for supplies to Tata Motors. A FSW machine is also installed at the Chakan 2 Plant of your Company.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

• APPOINTMENT OF DIRECTORS

Mr. Prakash Gurav was re-appointed as an Independent Director of the Company for a second term w.e.f. April 05, 2026 till attaining the age of 75 (Seventy-Five) years i.e., upto December 28, 2028 (Both days inclusive). The Members approved his re-appointment by passing special resolution vide postal ballot concluded on Thursday, March 19, 2026.

The Board is of the opinion that all Directors, including the Director re-appointed during the year under review & Independent Directors have the required qualifications, experience and expertise and maintain high standards of integrity.

• RETIREMENT / RESIGNATION / CESSATION OF DIRECTORS

Mr. Arvind Goel (DIN: 02300813) Non-Executive - Non-Independent Director will retire by rotation at the conclusion of the ensuing Annual General Meeting and being eligible, has offered himself for re-appointment. Brief profile of Mr. Arvind Goel is provided in the Notice of AGM.

• KEY MANAGERIAL PERSONNEL

During the year under review following are changes with respect to Key Managerial Personnel of the Company:

1. Mr. Saurabh Erande, Company Secretary and Compliance Officer (Key Managerial Personnel) of the Company resigned from the services w.e.f. September 19, 2025.

2. On recommendation of Nomination and Remuneration Committee, Board of Directors of the Company at its Meeting held on March 13, 2026, appointed Mr. Krishna Dayma, as Company Secretary and Compliance Officer (Key Managerial Personnel) of the Company w.e.f. March 13, 2026.

There were no other changes in the Composition of Board of Directors and Key Managerial Personnel of the Company, except as disclosed above.

EVALUATION OF DIRECTORS, THE BOARD & ITS COMMITTEES

Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and as per Guidance Note on Board Evaluation issued by SEBI on January 05, 2017, the Board has carried out the Annual Performance Evaluation for FY 2025-26 of (a) its own performance; (b) the Directors individually; and (c) the working of its committees viz. 'Audit Committee', 'Nomination and Remuneration Committee', 'Corporate Social Responsibility Committee', 'Stakeholders Relationship Committee', and the 'Risk Management Committee'. The details of evaluation process have been explained in the Corporate Governance Report.

REMUNERATION POLICY

The details of the Remuneration Policy as approved and adopted by Board are stated in the Corporate Governance Report.

POLICY W.R.T. QUALIFICATIONS, ATTRIBUTES AND INDEPENDENCE OF A DIRECTOR

The Company has adopted the Guidelines on Board Effectiveness (“Governance Guidelines” or “Guidelines”) which inter-alia cover the criteria for determining Qualifications, Attributes and Independence of a Director. The details of the Policy are stated in the Corporate Governance Report.

DECLARATION BY INDEPENDENT DIRECTORS

The Company has received necessary declarations from all the Independent Directors under Section 149(7) of the Companies Act, 2013 and Regulation 16(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) that:

a. they meet the criteria of independence and fulfill the conditions specified in Section 149(6) of the Companies Act, 2013 and of Listing Regulations and are independent of management;

b. they are not aware of any circumstance or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgment and without any external influence pursuant to Regulation 25 of the Listing Regulations;

c. they have complied with the requirement of inclusion of their name in the Data Bank maintained by Indian Institute of Corporate Affairs as envisaged in section 150 read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 and they hold valid registration certificate with Data Bank of Independent Directors and has passed online proficiency self-assessment test within prescribed time unless exempted.

BOARD AND COMMITTEE MEETINGS

The details of Board and Committee meetings held during the year are given in the Corporate Governance Report.

CHANGE IN THE NATURE OF BUSINESS

During the year under review, there has been no change in the nature of business of the Company.

MATERIAL CHANGES AND COMMITMENTS, IF ANY AFFECTING FINANCIAL POSITION OF THE COMPANY

During the year under review, the total borrowings as at March 31, 2026 stood at ' 7,027.56 Lakhs as compared to ' 8,987.63 Lakhs as at March 31, 2025. The Company has repaid inter-Company deposits, reduced working capital borrowing and in place availed invoice factoring facility, which effectively has improved cashflow.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

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

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

There are no Loans, Guarantees or Investments made by Company under Section 186 of the Companies Act, 2013.

DEPOSITS

The Company has not accepted Deposits under Chapter V of the Companies Act, 2013 during the year under review. No amount on account of Principal or Interest on Deposit from Public was outstanding as on March 31, 2026.

CORPORATE GOVERNANCE

In terms of Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Report on Corporate Governance along with the Certificate of Compliance from the Auditors forms part of this Report.

DIRECTORS' RESPONSIBILITY STATEMENT

Based on the framework of Internal Financial Controls and Compliance Systems established and maintained by the Company, work performed by the Internal, Statutory and Secretarial Auditors including audit of Internal Financial Controls over Financial Reporting by the Statutory Auditors and the reviews performed by the Management and the relevant Board Committees including the Audit Committee, the Board is of the opinion that the corresponding Internal Financial Control were adequate and effective during the FY 2025-26.

Accordingly, pursuant to Section 134(3)(c) and 134(5) of the Companies Act, 2013, the Board of Directors to the best of their Knowledge and Ability, confirm that:

1. In the preparation of the Annual Financial Statements for the year ended March 31, 2026, the applicable Accounting Standards have been followed and there are no material departures;

2. Accounting Policies have been selected and applied consistently and judgments and estimates that are reasonable and prudent have been made, 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 Profit of the Company for the year ended on that date;

3. Proper and sufficient care have been taken for the maintenance of Accounting Records in accordance with the provisions of this Act for safeguarding the assets of the Company, for preventing & detecting fraud and/ or other irregularities;

4. The Annual Accounts have been prepared on a going concern basis;

5. Internal Financial Controls have been laid down by the Company and that such Internal Financial Controls are adequate and are operating effectively; and

6. Proper systems have been devised to ensure Compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

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

The information on Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo stipulated under Section 134 (3) (m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014, is annexed as Annexure II to this Report.

BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT (BRSR)

As per Regulation 34(2)(f) of the Listing Regulations, a separate section on Business Responsibility and Sustainability Report, describing the initiatives taken by the Company from Environmental, Social and Governance perspective, forms an integral part of this Annual Report.

ANNUAL RETURN

Pursuant to Section 92(3) of the Act and Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return for FY 2025-26 is available on Company's website at https://autostampings.com/ storage/2022/08/AC4153332.pdf

PERSONNEL

Your Company accords high importance in building and sustaining healthy employee engagement with the aim of achieving competitive productivity and harmonious work environment. The industrial relations during the year remained peaceful. With a view to ensure prompt resolution of employee's grievances, various Committees have been set up under the capable Chairmanships which are guided by Functional Heads/ Department Heads e.g. Works Committee, Health, Safety and Environment Committee, Prevention of Sexual Harassment Committee (POSH) etc.

Your Company has been implementing Total Productive Maintenance (TPM), World Class Quality System (WCSQ), Kaizen and other various systems to improve overall performance of all plants.

Information required under Section 197 (12) of the Companies Act, 2013 read with Rule 5 (1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are set out in Annexure III to this Report.

Information required under Section 197(12) of the Companies Act, 2013 read with Rule 5 (2) (i) to (iii) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is not given since there is no employee who received remuneration in excess of the limits prescribed therein.

The information required under Rule 5(2) and (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided in the Annexure III forming part of the Report. In terms of the first proviso to Section 136 of the Companies Act, 2013 the Report and Accounts are being sent to the Members

excluding the aforesaid Annexure. Any Members interested in obtaining the same may write to the Company Secretary at e-mail cs@autostampings.com. None of the employee listed in the said Annexure is related to any Director of the Company.

POLICY ON PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL HARASSMENT AT WORKPLACE

Your Company has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment at the Workplace, in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules there under. The Policy aims to provide protection to employees at the workplace and prevent and redress complaints of sexual harassment and for matters connected or incidental thereto, with the objective of providing a safe working environment, where employees feel secure. Your Company has also constituted an Internal Complaints Committee, known as the Prevention of Sexual Harassment (POSH) Committee, to enquire into complaints of sexual harassment and recommend appropriate action. Awareness Programmes were conducted at various plants of the Company.

The details of complaints under the POSH Act, for the financial year 2025-26 are as follows:

• Number of complaints of sexual harassment received during the year: Nil

• Number of complaints disposed of during the year: Nil

• Number of cases pending for more than 90 days: Nil

The Board confirms that during the year under review, no complaints were received or cases filed under the POSH Act.

ADHERENCE TO PROVISIONS OF THE MATERNITY BENEFIT ACT, 1961

Your Company affirms that it has complied with all applicable provisions of the Maternity Benefit Act, 1961, including the provision of paid maternity leave and other prescribed benefits to eligible women employees during the financial year. The Company remains committed to supporting the health, dignity and welfare of women in the workplace.

RISK MANAGEMENT

The details of Risk Assessment framework are set out in the Corporate Governance Report forming part of the Board's Report.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

Your Company has adopted a vigil mechanism. The details of the same are explained in the Corporate Governance Report and also posted on the website of the Kindly mention statement of deviation(s) or variation as per reg 32

NAMES OF THE COMPANIES WHICH HAVE BECOME / CEASED TO BE SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES DURING THE YEAR

Your Company did not have any subsidiaries, associates or joint ventures during the year under review. AUDITORS

1. STATUTORY AUDITORS

At the 32^nd AGM held on June 09, 2022, pursuant to the provisions of the Act and the Rules made thereunder, M/s. B S R & Co. LLP, Chartered Accountants, Pune (Firm Registration no. 101248W/W-100022) were appointed as Statutory Auditors of the Company, to hold office for a period of 5 (Five) years from the conclusion of 32^nd AgM held on June 09, 2022 till the conclusion of 37^th AgM to be held in FY 2027-28.

The Statutory Auditors' Report for FY 2025-26 on the financial statement of the Company forms part of this Annual Report.

There are no qualifications, reservations or adverse remarks made by the Statutory Auditors in their Audit Reports on the financial statements for the year ended March 31, 2026. The observations of the Statutory Auditors in their Reports are self-explanatory and therefore Directors don't have any further comments to offer on the same.

2. SECRETARIAL AUDITORS

At the 35^th AGM held on July 30, 2025, pursuant to the provisions of the Act and the Rules made thereunder, M/s. SVD and Associates, Company Secretaries, Pune (Peer reviewed Certificate No. 6357/2025) were appointed as Secretarial Auditors of the Company, to hold office for a period of 5 (Five) consecutive years commencing from the Financial Year 2025-26 to the Financial Year 2029-30.

The Report of the Secretarial Audit for FY 2025-26 is annexed herewith as Annexure IV to this Report. There are no qualifications, reservations or adverse remarks or disclaimer in the said Report except as;

During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned in the Report except the following:

Pursuant to Regulation 6 (1A) of SEBI LODR there had been delay of 84 days in appointment of Company Secretary and Compliance Officer and the Company had paid fine of INR. 15,340/- (inclusive of GST) for delay of 13 days falling in the quarter ended December 31, 2025 to BSE Limited and National Stock Exchange of India Limited, the Stock Exchanges each.

COMMENT OF THE BOARD:

The Company has appointed Mr. Krishna Dayma (M No.: A54238) as the Company Secretary and Compliance Officer w.e.f. March 13, 2026. The delay was non intentional and solely occurred due to practical constraints.

Pursuant to Listing Regulations, a certificate from M/s. SVD & Associates, Practicing Company Secretaries, Pune, that none of the Directors on the Board of the Company have been debarred or disqualified from being appointed or continuing as Directors of Companies by the Board/Ministry of Corporate Affairs or any such Statutory Authority is annexed to Corporate Governance Report as Annexure I.

3. COST AUDITOR

The Cost Audit under provisions of Section 148 of the Companies Act, 2013 is applicable to the Company.

Maintenance of Cost Records has been specified by the Central Government under section 148 (1) of the Companies Act, 2013 and the Companies (Cost Records and Audit) Rules, 2014 for the business activities carried out by the Company, accordingly Company has maintained Cost Records. The said cost accounts and records for FY 2025-26 are subject to audit by M/s. Harshad S. Deshpande and Associates, Cost Auditor of the Company.

The Board of Directors upon recommendation of the Audit Committee at its meeting held on Saturday, April 25, 2026, re-appointed M/s. Harshad S Deshpande and Associates, Cost Accountants, as the Cost Auditors of the Company for the Financial Year 2026-27. The Company has received the consent from M/s. Harshad S Deshpande and Associates, Cost Accountants, to act as the Cost Auditor of the Company for FY 2026-27, along with the certificate confirming their eligibility.

In accordance with the provisions of Section 148(1) of the Act and Rule 14 of the Companies (Audit and Auditors) Rules, 2014, the remuneration payable to the Cost Auditor is required to be ratified by the Members of the Company. Accordingly, an Ordinary Resolution, for ratification of remuneration payable to the Cost Auditor for Fy 2025-26 & FY 2026-27 (to ensure alignment with market practice and regulatory requirements, the resolution for ratification of remuneration of Cost Auditor for FY 2026-27 has also been included in the Notice, in addition to FY 2025-26), forms part of the Notice of the ensuing AGM and the same is recommended for your consideration and approval.

COMPLIANCE OF SECRETARIAL STANDARDS

The Directors have devised proper systems and processes for complying with the requirements of applicable Secretarial Standards issued by the Institute of Company Secretaries of India ('ICSI') and that such systems were adequate and operating effectively.

REPORTING OF FRAUDS BY AUDITORS

During the year under review, Auditors have not reported to the Audit Committee, under Section 143(12) of the Companies Act, 2013, any instances of fraud committed against the Company by its Officers or Employees, the

details of which would need to be mentioned in the Board's Report.

THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONGWITH THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR

During the year under review no such instance has occurred.

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

During the year under review no such instance was occurred.

AWARDS AND RECOGNITION

During the year Chakan-1 and Chakan-2 plants received GOLD Awards in the Case Study and Safety Skit categories for the QCFI Safety Week 2026, your Company received the “Best Supplier award for consistent Performance” for its Sanand Plant and “Best DWM”, “Horizontal Deployment & “Outstanding Accomplishment Award” for its Pantnagar Plant from Tata Motors Limited (TML), the “Commitment to excellence as a valued supplier” by Tata Passenger Electric Mobility (TPEML), Moreover, our active participation in esteemed competitions such as the the Kaizen and Safety Competition facilitated by the Quality Circle Forum of India (QCFI), the National Level Poka-yoke Competition and the Kaizen circle competition hosted by the Confederation of Indian Industry (CII) further highlights our dedication to continuous improvement and adherence to stringent Quality and Safety Standards.

FORWARD LOOKING STATEMENTS

Certain statements describing the Company's Estimates, Projections, Expectations, Future Outlook, Industry Structure and Developments may be construed “Forward-Looking Statements” within the meaning of applicable Laws and Regulations. Actual results may differ materially from those either expressed or implied in this Report.

ACKNOWLEDGEMENTS

Your Directors place on record their sincere thanks and appreciation for the confidence reposed and continued support extended by Central and State Governments, Bankers, Customers, Suppliers and Members. Your Board would like to place on record its sincere appreciation to the employees for the dedicated efforts and contribution in playing a very significant part in the Company's Operations.