Dear Members,

The Board of Directors of ITI Limited ("the Company" or "ITI") hereby submits the report of the business and operations of the Company along with the Audited Financial Statements (Standalone and Consolidated) for the Financial Year (FY) ended 31st March 2026, Auditors report and comments on the Accounts by the Comptroller and Auditor General (C&AG) of India.

The revival package of Rs 4156.79 Crore (Rs1892.79 Crore as grant-in-aid and Rs 2264 Crore as Capex Fund in the form of equity) as approved by the Cabinet Committee on Economic Affairs (CCEA) in February 2014 for ITI Limited, has helped in the Company's turnaround. The entire grant-in-aid of Rs. 1892.79 Crore has been received out of Rs. 4156.79 Crore. Out of Rs. 2264 Crore ITI has received Rs. 1191.56 Crore of the Capex Fund.

The Capex fund has been invested to upgrade manufacturing infrastructure across various ITI units, catering to emerging technologies in the domain of Telecommunications, Electronics, and ICT products, services & solutions. These projects have helped ITI Limited regain its manufacturing strength. The State-of-the-art infrastructure established under the revival package funds has boosted the manufacturing strengths to cater to domestic market demands under the "Make in India" mission of the Government of India.

Standalone Performance:

The performance of the Company (Standalone basis) for the financial year 2025-26 compared to the previous year 2024-25 is as under:

Rs. in Crores

Consolidated Performance:

The Consolidated Revenue from operations at Rs. 2183.72 crores (PY Rs. 3616.42 crores) reflect a decrease of 40% compared to the previous year. The profit / (loss) before tax and Profit / (loss) after tax for the financial year 2025-26 were Rs. 292.79 crore against Rs. (233.15) crore during the previous year.

OPERATIONAL PERFORMANCE:

The Company has achieved the turnover of Rs. 2464.77 Cr during FY 2025-26 against Rs. 4323.37 Cr during the previous FY 2024-25.

PRODUCTION HIGHLIGHTS

"As a premier electronic manufacturing partner, our company specializes in delivering mission-critical solutions, including 4G Radio Equipment and advanced Defence electronics systems. Through the deployment of cutting-edge technology, we continue to drive industrial innovation and set new benchmarks in operational excellence.

We successfully executed production across a diverse range of products, including Defence Encryptors, Laptops/Smaash PCs, solar energy modules and power packs, and essential telecom infrastructure components such as Optical Fiber Cables, HDPE ducts, ONTs, OLTs, ODCs, telephones etc. Furthermore, our various manufacturing units have scaled their capabilities to include contract manufacturing services for water pipes, 4G RAN equipment, and tablet PCs, further strengthening our commitment to the Atmanirbhar Bharat initiative."

Order Book Position

The Order Book position of the Company stands at around Rs. 18637 Cr (including AWO for BharatNet Phase-III, PO for BSNL 4G Rollout projects and LoI of Solar LED street lights of around Rs. 4191.14 Cr)

ITI Limited successfully secured 4G LTE-R trial projects for the South Central Railway (SCR) zone, comprising a _ 5.24 Cr LOA from RDSO covering 500 RKM with 30 sites (21 two-sector and 9 three-sector sites) and a _ 2.16 Cr LOA from RailTel for the supply, installation, testing, and commissioning of 13 eNodeB sites. As part of these projects, the Bangalore Plant successfully manufactured and supplied a total of 95 RRHs and 43 BBUs, demonstrating ITI's capability in indigenous LTE-R telecom infrastructure deployment for Indian Railways.

ITI Limited successfully secured and executed Order for supply of 500 Sets of S3-EVM (500 Nos of S3 Control Units, 500 Nos of S3 Ballot Units) for West Bengal State Election Commission worth _80.06 Lakhs

ITI Limited Secured high-value defence and government orders worth over _ 29.69 Cr, including _ 11.10 Cr from PMO DCN, _ 9.98 Cr from Eastern Command, _ 5.34 Cr from NSIL, and _ 3.27 Cr from CAIR for advanced encryptors and secure communication systems.

ITI Limited (Naini) has Successfully supplied 2 Aarogya Maitri BHISHM Cubes (rapid response medical kits) through the ICICI Foundation to army regiments in Uttar Pradesh and Jharkhand, with a total project value of _ 8.00 Cr.

ITI Limited has Successfully secured the prestigious _ 72.76 Cr Ice Hockey Rink project at Kaza, Himachal Pradesh, achieving project execution worth _ 10.91 Cr during the fiscal year.

ITI Limited has Successfully executed supply, installation, testing, and commissioning—of over 32,500 Solar Street Lighting Systems (SSLS across various states in partnership with agencies like BREDA, UPNEDA, and JAKEDA).

ITI Limited has Established Solar Power Plant (Naini- 500 KWp, Mankapur-700 KWp, Raebareli- 300 KWp) under the PM Surya Ghar Muft Bijli Yojana at the ITI premises to drive green energy adoption and revenue-sharing growth.

Details of Turnover achieved in FY 2025-26 Vs FY 2024-25:

(Value in Rs Cr)

CHANGE IN SHARE CAPITAL / ISSUE OF SHARES:

There was no change in the Authorized Share Capital of the Company during the year 2025-26.

During the previous financial year 2025-26, pursuant to the BIFR order dated 08th January 2013, the Board of Directors had allotted equity shares to the President of India on preferential basis against CAPEX received on 21st January 2025 from Government of India, details of which are as follows:

Accordingly, the paid up Equity Share Capital has increased to 9,62,85,19,670 as on date.

During the year under review, the Company has not granted stock options or sweat equity shares. As on 31st March 2026, except for Smt S Jeyanthi who holds 50 equity shares of the Company, none of the Directors of the Company hold any shares of the Company.

DIVIDEND

Although the Company has reported positive PAT of Rs.292.79 Cr, the Company had actually incurred operational loss of Rs.(156.36 Cr) during the year 2025-26 and still has accumulated losses of previous years, the Directors are not in a position to recommend any dividend for the year 2025-26.

RESERVES

As the Company still has accumulated losses, it has not transferred any amount to General Reserve.

BANGALORE PLANT

In the FY 2025-26, Bangalore Plant has achieved the Turnover of Rs. 68.04 Cr. The turnover mainly consists of Manufacturing, Various Services and Projects.

Production & Manufacturing Highlights: (i) 4G-RDSO:

ITI Limited has received LOA from RDSO worth Rs. 5.24 Cr for Trials of 4G LTE-R systems in 500 RKM in SCR.

• Total Number of Two Sectors and Sites: 21 Sites.

• Total Number of Three Sectors and Sites: 9 Sites.

ITI Bangalore plant has successfully manufactured and supplied B28 RRH and BBU to RDSO for all the sites.

• Total Number of RRH Supplied: 69 Nos.

• Total Number of BBU Supplied: 30 Nos.

(ii) 4G-Railtel:

ITI Limited has received LOA from Railtel worth Rs. 2.16 Cr for the supply, installation, testing and commissioning of 13 eNodeBs of 2 sectors with SMPS Power plant and outdoor cabinet for "Trials of 4G LTE-R systems in 500RKM in SCR".

Total Number of Two Sectors and Sites: 13 Sites.

ITI Bangalore plant has successfully manufactured and supplied B28 RRH and BBU to Railtel for all the sites.

• Total Number of RRH Supplied: 26 Nos.

• Total Number of BBU Supplied: 13 Nos.

(iii) Defence business:

Encryption Products:

The Secrecy products for Defence Communication Networks and other Ministries are being designed by our R&D and manufactured, supplied & maintained by ITI for long time. ITI has been the pioneer in this field. The products have evolved over the years in tune with the evolution in the digital communication technology. There are major requirements of encryption products for Defence for their NFS network, ASCON network, for Ministry of Home Affairs - MHA, Indo Tibetan Border Police - ITBP etc.

• Bangalore plant Supplied 3 Nos of 1Gbps IP Encryptor to ADRIN for Rs. 0.24 Cr.

• Received order from PMO DCN worth Rs 11.10 Cr for supply of Enhanced TESDs, Flexi Data Encryptors, BEU along with Accessories.

• Received order from NSIL worth Rs. 5.34 Cr for supply of 34 Nos of IP Encryptor systems along with Accessories.

• Received order from CAIR worth Rs 3.27 Cr for supply of VHP systems along with Accessories.

(iv) Electronic Voting Machine (EVM) :

Plant has Supplied 500 Nos. of EVM Control Units & 500 nos. of EVM Ballot Units to West Bengal State Election Commission for Rs. 0.99 Cr.

(v) ASCON RACK/Mobile Node Rack:

The Plant supplied 220 nos ASCON rack, 40 Nos of Mobile Node racks and 1330 nos of L-brackets worth 1.92 Cr.

(vi) 5C-Telephones:

Plant has Supplied 47 Nos of 5C telephones to Ashok Leyland, Cochin shipyard, INS, L&T, Delta marine enterprises and Coast Guard for Rs. 0.17 Cr.

(vii) Contract Manufacturing ( SMT/FPT):

Bangalore plant continued to provide PCBA assembly and FPT testing services to external customers. For the FY 2025-26, the cumulative order value is Rs. 0.15 Cr.

(viii) Outdoor Cabinet (ODC):

The Plant has manufactured and supplied 5 Nos of Outdoor Cabinet to C-DoT, Bengaluru. The Order value was Rs. 0.03 Cr.

(ix) 3D Printing:

Bangalore plant has been providing services to in-house requirements, startup customers at ITI as well as external customers. Bagged order for manufacturing of Satellite 1:1 study models, Mechanical Enclosure, and BAS-01 model from ISRO for Rs. 0.62 Cr.

Total revenue generated in FY 2025-26 from 3D printing is 1.28 Cr.

Major Customers are:

• ISRO

• ADA

• HAL

• Pvt. Etc.

Services Highlights: i. Telecom Testing Lab (TTL): EMI-EMC Lab:

Fully automated Environmental Test Facility with highly sophisticated instruments for a wide range of Testing Services catering to Telecom, Defence, Aerospace, Automotive, Medical and Commercial Products for conformance to applicable standards thereby improving the quality and performance. Various test facilities such as MIL-Std-461E/F/G Standard IEC 61000 Standard, MIL STD-810 F/G/H, QM-333, IEC-60068, JSS-55555, etc. are available.

eliability Engineering Lab:

Reliability Engineering Lab is equipped with various Environmental Test Chambers and has been providing services to internal as well as external customers Lab facilitates to conduct all environmental tests as per QM333, JSS 55555, MIL Standard and Customer Test Requirement, NABL renewal audit including scope expansion of Reliability lab was completed successfully during July 2025 As per the guidelines issued by DoT for Mandatory Testing and Certification of Telecom Equipment (MTCTE), all telecom equipment must undergo mandatory testing and certification prior to sale, import of use in India. Renewal of NABL Accreditation was awarded to ITIs EMC Lab on 09.10.2025 valid until 08.10.2029 with scope extension including Environmental tests. EMC Lab can now perform testing of equipment according to MIL 461E/F/G, JSS 55555, QM333 and Mil-Std-810E/F/G/H standards, which is expected to bring more business in this FY 2026-27. Designation of ITI EMI/EMC Lab for CAB (Conformity Assessment Body) status obtained from TEC Delhi on 17-12-2024 valid until 16.12.2027.

Revenue generated during the year is Rs. 2.85 Cr. (Reliability & EMI/ EMC Lab)

ii. GSM SZ AMC:

Revenue generated for providing AMC services to BSNL for 9ML GSM to SZ for FY 2025-26 is Rs. 5 Cr.

iii. Defence AMC & Non-AMC card Repairs:

Bangalore Plant is executing Annual Maintenance Contracts (AMC) for PMO DCN systems supplied under the TESD, SESD, Flexi BEU, NGN-BEU, and IP Encryptor projects for defence customers across India. Also, non-AMC repair activities carried out on a payment basis for Ananda BEU Mk-II and MILPCM Secrecy Devices. Revenue generated from these activities during the year amounted to 2.79 Cr.

iv. Data Centre and IT Business:

The ITI Data Centre is a state-of-the-art physical and virtual infrastructure that enables enterprises to securely host, store, process and manage mission-critical IT workloads. Designed to support high availability, scalability and security, the Data Centre provides a comprehensive suite of hosting, cloud and managed IT services to customers across government, public sector and private enterprises. Located at ITI Limited's Bengaluru campus, the Data Centre has been serving customers since FY 2020–21 across diverse sectors including Aviation, Higher Education, Research & Development Institutions, Government Departments, Public Sector Undertakings (PSUs), Multinational Corporations (MNCs) and Small & Medium Enterprises (SMEs).

Infrastructure and Service Offerings:

With a built-up area of over 2 lakh sq. ft., the ITI Data Centre is designed to support large-scale digital infrastructure requirements arising from the Government of India's Digital India initiative and the growing demand for domestic data localization.

The facility is designed to accommodate up to 938 racks and supports power densities ranging from 6 kVA to 10 kVA per rack, making it suitable for conventional enterprise workloads as well as high-density computing environments.

The Data Centre offers the following services:

• Rack Space, Co-location and Dedicated Hosting Services

• Managed Colocation

• Managed Storage, Backup and Database Management Services

• Server Monitoring and Management

• Managed Tape Backup Services

• Network Monitoring and Management

• Remote Infrastructure Management

• Cloud Services (Public, Private and Hybrid)

• Disaster Recovery (DR) Services

• Email Services

• Security Operations Centre (SOC) Services

The facility also provides customer workstations, cabins and Network

Operations Centre (NOC) facilities for customer operations and monitoring. Carrier-neutral connectivity through multiple Internet Service Providers (ISPs), redundant power infrastructure, precision-controlled cooling systems, eco-friendly fire suppression systems, multi-layer physical and cyber security, and 24?7 technical support ensure uninterrupted service delivery.

Revenue:

During FY 2025–26, the Data Centre generated revenue of _47.96 Cr, reflecting continued growth in demand for its managed hosting, cloud and digital infrastructure services.

Certifications and Compliance:

The ITI Data Centre is in the process of renewing its TIA-942 Tier III Certification, further also providing 99.982% availability through concurrently maintainable infrastructure that enables planned maintenance of power and cooling systems without disrupting customer operations.

• ISO 9001 – Quality Management Systems

• ISO/IEC 20000 – IT Service Management

• ISO/IEC 27001 – Information Security Management

• ISO/IEC 27017 – Cloud Security

• ISO/IEC 27018 – Protection of Personally Identifiable Information (PII) in Public Clouds

• CMMI Level 5

The Data Centre has also been successfully audited and empaneled by the Ministry of Electronics and Information Technology (MeitY) as a Cloud Service Provider for delivering Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS) across Public, Private and Hybrid Cloud environments. In addition, ITI operates a Government Community Cloud (GCC) to support secure hosting requirements for critical and confidential Government workloads and also a private/Public cloud service.

v. Security Operations Centre (SOC) Facility and Service Offerings

ITI operates a state-of-the-art Security Operations Centre (SOC) that delivers comprehensive Security Operations Centre as a Service (SOCaaS) to customers across Government, Public Sector Undertakings (PSUs), Defence, Banking & Financial Services (BFSI), Research Institutions, Healthcare, Manufacturing, Telecommunications and other critical sectors.

The SOC provides 24?7?365 monitoring, detection, investigation and response to cyber threats, enabling organizations to proactively safeguard their digital infrastructure, business-critical applications and sensitive information assets. Acting as a centralized cyber defence hub, the SOC integrates advanced analytics, artificial intelligence, threat intelligence and skilled security analysts to identify, investigate and mitigate cyber threats in real time. The facility supports on-premises, cloud and hybrid IT environments and delivers continuous cyber resilience through managed security operations.

Managed Security Services

The Security Operations Centre provides an integrated portfolio of managed cybersecurity services, including:

• Identity and Access Management (IAM)

• Next Generation Firewall (NGFW) Management

• Network Access Control (NAC)

• Endpoint Detection and Response (EDR/XDR)

• Managed Detection and Response (MDR)

• Security Information and Event Management (SIEM)

• User and Entity Behaviour Analytics (UEBA)

• Data Loss Prevention (DLP)

• Email Security

• Vulnerability Assessment and Penetration Testing (VAPT)

• Threat Hunting and Incident Response

• Managed Firewall Services

• Governance, Risk and Compliance (GRC) Services

• Cyber Threat Intelligence

• Security Awareness and Compliance Support

The SOC also provides dedicated customer workstations, operational cabins and monitoring facilities to enable seamless collaboration between customer teams and ITI's cybersecurity professionals.

vi. Cyber Security Projects

In addition to centrally managed SOC services, ITI executes and manages

Security Operations Centre (SOC) and Cyber Security projects suited for Government organizations, Public Sector Undertakings, Defence establishments and enterprise customers across India.

The scope of these projects shall include:

• Design, implementation and operation of Security Operations Centres

• 24?7 security monitoring and incident response

• Management of network infrastructure and backbone connectivity

• Deployment and management of cybersecurity platforms and tools

• Security monitoring of IT, cloud and hybrid environments

• Vulnerability management and security assessments

• Compliance monitoring and security governance

• Management of security hardware, software and appliances

• Preventive maintenance, reporting and operational support

• Cybersecurity consulting, audit support and continuous improvement initiatives Through these capabilities, ITI enables customers to strengthen cyber resilience, enhance regulatory compliance and protect mission-critical digital infrastructure against evolving cyber threats.

vii. Start-up hub:

In alignment with the Government's Start-up India mission, ITI has undertaken the establishment of a 1,000-seat Start-up Hub at its ITI Bangalore Plant campus in a phased manner to foster innovation and entrepreneurship across the country. ITI aims not only to support product development but also to manufacture successful products in-house and facilitate their commercialization.

The first phase of the Start-up Hub comprises a 221-seat facility equipped with modern amenities, including a dedicated corporate meeting room, demonstration room, highly secure Wi-Fi connectivity, testing facilities, a data center, and 3D printing capabilities. Building on the success of the initial phase, Vinyas has expanded into the second phase within the administrative building, thereby accommodating and supporting a larger number of start-ups.

Currently, Vinyas has provided space to nearly 30 companies and has signed Technology Transfer (ToT) agreements with several start-ups. The start-ups are working in various technologies ranging from drones, electronics, defence equipment, and IT networking infrastructure. These collaborations are aimed at enhancing the visibility and exposure of start-ups among government organizations as well as private-sector entities.

R & D - BANGALORE

Major R&D initiatives taken by the company:

Research & Development (R&D) division located in Bangalore plant is designing & developing communication equipment and encryption equipment to support manufacturing and keep abreast of State of the Art Technologies in the field of Electronics & Communications. R&D has core strength in the design & development of Encryption systems to secure Communication Networks and also in development of Network solutions & other diversified products like EVM, DMR, Smart Energy Meter (SEM), Security Module for SDR, NavIC Restricted Service Enabler Module (NRSEM) for IRNSS RS Receiver, etc. R&D designed and developed critical encryption products for the requirement of the defence segment and products were supplied to the Army, MHA, NSG, ITBP, and PMO DCN, reinforcing our strategic support to secure national communication networks including ASCON Phase-1 through Phase-3. The encryptors developed supports data rates starting from low bit rate to high bit rate like E1, E3, 10/100/1000Mbps, 10Gbps, STM_1 and STM_4. Also these encryptors can be integrated to wired networks and wireless networks, viz., Microwave Radio and Satellite Communication networks. The necessary infrastructure to aid design & development is available in the form of electronic hardware and software design tools, CAD design tools, mechanical design tools, test instruments, Reliability lab, EMI/EMC test lab and Telecom testing lab. In the Financial year 2025-26, R&D was involved in development/ upgradation/Initial Field Trial/Training activities of the following Projects.

a) Encryption Systems for Defence & Para military forces like PMO-DCN, Air force, Eastern command, ITBP, IB-MHA etc. (On-going)

b) Network solutions for Communication Network; NFS & ASCON P4 (On-going)

c) Development of Encryption Algorithms. (Spare algorithms being developed)

d) Getting the CPC approval for crypto products with proprietary Algorithms (On-going)

e) Support for legacy secrecy products supplied and networks executed to Defence. (On-going)

f) Design and development of Power supply modules

g) Electronic Voting Machine (EVM) Prototype developed as per TEC/SECs specification was customized/updated to meet the requirements specified by WB SEC. Provided support to Production department of Bangalore Plant for completion of manufacture, Pre-Dispatch Inspection (PDI), supply and User Acceptance Trial (UAT) of 500 S3 EVMs to WB SEC.

h) Digital Mobile Radio (DMR) System VHF/UHF handheld, Base station & Repeater along with NMS prototype development and Certification process for EMI/EMC Compatibility and Environmental tests is in progress.

i) Smart Energy Meter (SEM) Prototype development completed & testing is in progress for obtaining required Certifications.

j) Enhanced Integrated TESD (Upgradation of TESD) Development completed Documents submitted for SAG evaluation.

k) VHP (Versatile Hardware Platform). Development completed. Ready to Supply.

l) E1 Encryptor for Eastern Command (Army). SAG evaluation/ grading completed and SAG awarded G4 grade to the system.

m) As per the PMO-DCN requirement initiated the design and development of encryption system NGN/Flexi EDU-IP. Prototype development under progress.

PALAKKAD PLANT I. Performances:

During the financial year 2025–26, Palakkad Plant achieved a turnover of Rs. 39.52 Cr.

The Plant continued to strengthen its position as a diversified technology manufacturing unit with significant contributions in Space Electronics, IT Hardware Products, Electronic Manufacturing Services (EMS), Smart Card Solutions and Digitization Services. The Plant also continued its efforts towards expanding its business portfolio by entering emerging technology domains such as Sovereign AI Computing Platforms.

II. Major highlights

During the year, ITI Palakkad continued its significant contribution to the Indian Space Programme through fabrication and testing of avionics packages for prestigious ISRO missions including PSLV-C56, PSLV-C57, PSLV-C58, PSLV-C59, Aditya-L1 and Gaganyaan. The Plant continued to be a preferred industrial partner of Vikram Sarabhai Space Centre (VSSC) for screening of MIL/Space-grade electronic components and realization of flight-worthy electronic packages. The Plant further strengthened its presence in the Electronic Manufacturing Services (EMS) sector through its RDSO-accredited PCB fabrication and Surface Mount Technology (SMT) facilities for railway applications. In the IT Hardware segment, the Plant continued to manufacture and market Smaash branded Micro PCs, Desktop PCs and Laptops while preparing to introduce Sovereign AI Platforms as part of its product portfolio.

i. Space Electronics

ITI Palakkad Plant continued its long-standing association with Vikram Sarabhai Space Centre (VSSC), Thiruvananthapuram, in the realization of electronic packages and screening of electronic components for various launch vehicle and spacecraft programmes. The collaboration, which commenced with the establishment of the Space Electronics Fabrication Centre (SEFC) in 2010, has expanded into a wide range of high-reliability manufacturing, testing and qualification activities.

The Plant is approved for realization of electronic packages involving Surface Mount Device (SMD) assembly, manual assembly, conformal coating, card-level testing, integration, integration testing, in-line quality assurance, component screening, Test & Evaluation (T&E) and multi-stack assembly. Customized test jigs, burn-in boards, vibration fixtures and software are developed in-house to meet the stringent qualification requirements prescribed by VSSC.

ITI Palakkad continues to be the only external work centre accredited by VSSC for RF Package Assembly and Testing. The Plant maintains active business associations with VSSC, Liquid Propulsion Systems Centre (LPSC) and Mechanisms and Vehicle Integration Testing (MVIT), all engaged in the manufacture, testing and integration of launch vehicles such as PSLV, GSLV, LVM3 and Gaganyaan.

During the year, the facility was further qualified for screening and package realization activities for the Gaganyaan Mission. Pilot production quantities were successfully assembled, screened and delivered. Continuous efforts are being made to expand the scope of work by developing additional testing facilities for new devices and assemblies.

All technical personnel engaged in these activities are trained and qualified through rigorous programmes conducted by VSSC. The work is executed under a contract manufacturing model, with critical components supplied by VSSC as Free Issue Materials (FIM).

Since inception, the facility has screened more than 1.5 lakh electronic components and manufactured over 4,000 flight-qualified electronic packages, which have been successfully deployed in various ISRO launch vehicle missions.

The Space Electronics business generated a revenue of Rs. 3.06 Cr during FY 2025–26.

ii. IT Hardware Products

The Plant continued the manufacture and marketing of Smaash branded IT hardware products including Micro PCs, Desktop PCs and Laptops for Government and institutional customers. To address the growing demand for indigenous AI computing infrastructure, the Plant has initiated steps to integrate Sovereign AI Platforms with its hardware portfolio, thereby expanding its value proposition in the trusted computing ecosystem.

iii. Smart Card Solutions

ITI Palakkad has established a state-of-the-art Smart Card manufacturing facility conforming to the technical specifications prescribed under the Payment Card Industry (PCI) standards and the National Payments Corporation of India (NPCI).

Leveraging this infrastructure and expertise, the Plant continued to provide Smart Card solutions for Driving Licence Cards, Registration Certificate (RC) Cards and Identity Cards for various Government and Quasi-Government organizations in Kerala.

iv. Electronic Manufacturing Services (EMS)

The Plant continued to expand its EMS business through strategic collaborations with industry partners.

ITI Palakkad partnered with M/s Alind, Thiruvananthapuram, for the manufacture of processor cards used in Railway Fault Locator systems. During the year, the Plant's SMT facility received RDSO accreditation following successful technical evaluation by

Railway authorities.

The Plant also entered into a partnership with M/s Yukthi Electronics, Hyderabad, for product development and volume manufacturing of Smart Water Meters, further strengthening its presence in industrial electronics manufacturing.

v. Digitization Services

The Plant continued to provide digitization services involving conversion of legacy physical records into digital formats using advanced contactless scanning systems and specialized document management software.

During FY 2025–26, digitization projects valued at Rs. 0.25 Cr were successfully executed for Kannur University and Kerala University, contributing towards preservation of institutional records and supporting the Digital India initiative.

vi. TANFINET (BharatNet Phase-II, Tamil Nadu)

ITI Limited is executing Package-D of the TANFINET BharatNet Phase-II project, covering 10 districts, 109 blocks, and 3,103 Gram Panchayats (GPs) in southern Tamil Nadu. The project involves laying approximately 15,720 km of optical fibre (aerial and underground) and the supply, installation, and commissioning of routers and UPS systems at Blocks and GPs.

As on 31 March 2026, 14,425 km of optical fibre had been laid, 2,850 GPs were lit up, Completion Certificates for 53 Blocks had been received, and 42 Blocks had entered the Go-Live phase with Operations & Maintenance underway.

MANKAPUR PLANT I. Performances:

In the FY 2025-26 Mankapur Plant has achieved the Turnover of Rs 135.72 Cr.

II. Major highlights

Mankapur Plant houses a state-of-the art manufacturing facility for Electronic manufacturing, Duct manufacturing and Mechanical manufacturing

i. High Density Polyethylene(HDPE) PLB Duct Manufacturing:

Mankapur Unit has three HDPE duct manufacturing Lines. Mankapur Unit has manufactured and supplied PLB HDPE Telecom Duct of size 40/33 MM to M/s Terasoft for BharatNet Phase-III project. The Plant has firm order of PLB duct qty 12054 Km of M/s Terasoft for West Bengal, Andaman & Nicobar and qty 2410 Km of NSU PO (94 Km for Himachal Pradesh and 2316 Km for West Bengal) against the BharatNet Phase-III project. Total revenue generated from HDPE duct supply during FY 2025-26 is Rs 8.45 Cr.

ii. Smart Rack for Block and GP:

Smart racks in the BharatNet project are intelligent, weather-resistant enclosures used to house critical equipments (like routers, UPS, and batteries) in Gram Panchayats and Blocks. They feature integrated cooling, power distribution, and smart locks managed by an Element Management System (EMS) to ensure remote, uninterrupted rural connectivity. ITI Mankapur has developed the Smart Rack prototypes for Block and GP and received IA and TSEC certificate from BSNL. . Manufacturing of

Smart Racks for NER-II Pkg-15 BharatNet Phase-III Project has already been started. iii. Electronic Manufacturing:

Mankapur is having two SMT Lines of Capacity 210000 CPH and 40000 CPH. The Plant has manufactured GPON items OLT, ONT for BSNL & Railtel and also Tablet against the contract manufacturing order received from M/s Wishtel.

iv. Outdoor Cabinet (ODC):

Outdoor cabinets for 4G project is secure and power sensitive telecom enclosure which can bear harsh environments. Essential specifications include an IP55 rating for weatherproofing, active climate control for Heat Exchangers with multiple-point locking systems. ITI Mankapur supplied the self developed ODC to M/ sTejas against the 4G project.

v. Third Party Audit:

Mankapur Unit has taken up TPA activities for implementation of BharatNet in Jharkhand Communication Network and TPA VSAT work. The total revenue generated in 2025-26 is Rs 0.06 Cr vi. Diversified products:

Mankapur equipped with all types of machines required for the manufacturing of Mechanical items. ITI Mankapur has developed and manufactured 13 types of enclosures required in ASCON Project. Total revenue generated in 2025-26 is Rs 1.42 Cr

vii. Skill Development :

The Employee Development Centre (EDC) of Mankapur has programs for ITI (Industrial Training Institute) and Diploma students for one year apprenticeship program and invite different Engineering college students for Industrial visit. The total revenue generated in 2025-26 is Rs 0.33 Lakhs. iii. Items supplied in BharatNet Project through different Sub Vendors during FY 2025-26 and the revenue generated is as under:

RAEBARELI PLANT I. Performances

During the financial year 2025-26, the Raebareli Plant of ITI Limited has achieved a turnover of Rs. 58.48 Cr.

i. Optical Fiber Cable (OFC):

The Indian optical fiber cable market continues to grow steadily, driven by major government initiatives like Digital India, Smart Cities, and the BharatNet Project, along with rising FTTH (Fiber-to-the-Home) adoption and the expansion of data centers. In line with national priorities, ITI Raebareli has maintained focus on meeting domestic OFC demand with its installed capacity of 30,000 KM per annum. During FY 2025-26, the unit has manufactured and supplied more than 671 KM of OFC to major national projects. Key contributions include:

1. BharatNet Ph –III – supplied around 2820 Kms of 24F ADSS OFC for Laying Along Power Line Alignments - Type A-I (Semi Dry Core without Ice Loading) G.652D Fiber

2. Defense ASCON Phase IV Project – Supplied around 828.79 KM of 24F OFC.

3. Indian Railways – Supplied around 373.18 KM OFC to various zones.

4. Tanfinet Project - Supplied around 468.30 KM OFC.

The unit has generated revenue of Rs. 37.58 Cr from OFC-related activities during the year.

ii. Gigabit Passive Optical Network (GPON): Raebareli Unit houses a state-of-the-art facility for manufacturing GPON OLT & ONT systems. The plant is actively engaged in manufacturing and repairing of GPON cards for the BharatNet Phase II AMC project for various telecom circles of BSNL, supporting the digital infrastructure initiative with efficient production and service capabilities.

iii. High-Density Polyethylene (HDPE) Duct Manufacturing:

The unit also possesses a modern setup for HDPE Duct manufacturing, with an annual production capacity of 28,000 KM. These ducts are vital components in OFC deployment and contribute significantly to the optical network infrastructure supply chain. During the year 2025-26, HDPE production achieved Rs. 0.04 Cr

iv. Switched-Mode Power Supply (SMPS):

TheRaebareliplanthasawell-establishedfacilityformanufacturing SMPS systems of various ratings and configurations.

During FY 2025-26, the unit executed AMC services across various BSNL circles and also supplied and provided technical support to the Defense ASCON Project. The revenue earned from AMC-related works during the year amounts to Rs. 9.96 Cr.

I. Performance

During the Financial Year 2025–26, ITI Limited, Naini Plant achieved a turnover of _ 126.19 Cr, reflecting sustained growth in its business operations across the renewable energy, infrastructure, and strategic project execution sectors.

II. Major Highlights

The Naini Plant houses a state-of-the-art solar module manufacturing facility with an annual production capacity of 18 MW. During the year, the Plant successfully executed several prestigious projects in the renewable energy and infrastructure sectors.

i. Solar Module Manufacturing

• Manufactured and supplied 10,997 Nos. of 120 Wp Solar PV Modules to BREDA, with a business value of _ 2.89 Cr.

ii. Solar Street Lighting Systems

• Successfully completed the supply and installation of 30,592 Solar Street Lighting Systems under the BREDA project, with a project value of _ 66.74 Cr.

• Executed the Annual Maintenance Contract (AMC) for 1,41,543 Solar Street Lighting Systems under the BREDA project, valued at _ 32.57 Cr.

• Successfully carried out AMC services for 15,480 Nos. of 12 W Solar Street Lighting Systems under the Uttarakhand Renewable Energy Development Agency (UREDA) project, valued at _ 1.38 Cr.

• Completed the supply, installation, testing, and commissioning of 1,040 Nos. of 18 W Solar Street Lighting Systems with a Remote Monitoring System (RMS) under the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA), valued at _ 1.96 Cr.

• Successfully completed the supply and installation of 946 Nos. of 12 W Solar Street Lighting Systems under the Jammu & Kashmir Energy Development Agency (JAKEDA) project, valued at _ 1.29 Cr.

iii. Solar Power Plant Projects

• Established a 500 kW Solar Power Plant through NVVN under the PM Surya Ghar Muft Bijli Yojana at the ITI premises. The plant generated approximately 60,000 units of electricity during the year. The generated power is supplied to ITI at _ 4.11 per unit, compared to _ 7.10 per unit charged by UPPCL, resulting in significant savings in electricity costs.

• Established a 10 MW (AC) Ground-Mounted Grid-Connected Solar Power Plant under the Open Access/Group Captive Model by utilizing 35 acres of land within the Naini Plant premises. The project is expected to generate approximately 1.40 Cr units of electricity annually through the sale of power to third-party consumers. ITI's revenue-sharing margin for the project is 12.5%, which will increase by 0.05% annually after the initial seven-year period, up to a maximum of

13%, and will remain at that level for the remaining project tenure. iv. Solar Home Lighting Systems (Solar Power Pack System)

• Executed a work order for the Design, Supply, Installation, and Commissioning of 200 Solar PV Power Pack Systems (Home Lighting Systems) under the UPNEDA initiative, valued at _ 0.65 Cr.

• The project includes five years of comprehensive warranty and maintenance.

• Each Solar PV Power Pack comprises: 5 LED Lights 1 DC Ceiling Fan

1 ? 25 W DC Power Plug with USB Port for Mobile Charging 200 W Solar PV Module 80 Ah LiFePO- Battery v. Aarogya Maitri BHISHM Cube

• Successfully supplied 2 Nos. of Aarogya Maitri BHISHM Cubes (Rapid Response Kits)throughICICI Foundation to the army regiments of Uttar Pradesh and Jharkhand, with a total order value of _ 8.00 Cr. vi. Construction of Ice Hockey Rink at Kaza, District Lahaul & Spiti

(Himachal Pradesh)

• Secured a prestigious project for the Construction of an Ice Hockey Rink at Kaza, District Lahaul & Spiti, Himachal Pradesh, with a total project value of _ 72.76 Cr.

• During FY 2025–26, business amounting to _ 10.91 Cr was executed under the project.

III. Overall Achievement

During FY 2025–26, ITI Limited, Naini Plant further strengthened its position in the renewable energy and infrastructure sectors through the successful execution of solar manufacturing, solar street lighting, solar power, and strategic infrastructure projects. The Plant achieved significant milestones in project implementation, after-sales maintenance services, and diversification into high-value national initiatives. These achievements have substantially contributed to the overall growth, operational excellence, and business performance of ITI Limited.

SRINAGAR:

ITI Limited, Srinagar Plant is located at New Airport Road, Srinagar, Jammu & Kashmir. The Plant primarily operates a state-of-the-art Skill Development Centre aimed at enhancing employability and vocational skills in the region. It offers training in various disciplines, including Medical Lab Technician, Fashion Designing, Data Entry Operator, and Optical Fibre Splicer, among others. Through these programmes, the Plant contributes to skill enhancement and capacity building for local youth. Apart from the above, the plant is also actively assisting the NSU Srinagar Office in the smooth execution of the ASCON Phase IV Project.

Environmental Protection and Conservation:

The Company's Units are spread across the Country at different locations viz. Bengaluru, Mankapur, Raebareli, Naini, Palakkad and Srinagar. Environment Protection & Management of the Units is governed by various Acts & Rules like The Environment (Protection) Act, 1986, The Air (Prevention and Control of Pollution) Act, 1981, The Water (Prevention and Control of Pollution) Act, 1974, Hazardous Waste (Management, Handling and Transboundary Movement) Rules, 2016, The Solid Wastes Management Rules, 2016, etc. All the Units comply with the applicable Acts and Rules.

1. GPON Supply, I&C and AMC

Consequent upon rollout of BharatNet Project Phase-III, all the activities under the BharatNet Project Phase-I have been closed. Network under the Phase –I has been handed over to the respective vendors of ABP (BharatNet-Phase –III).

1. GujNet Project:

The Bharatnet Phase-II Package A "Gujnet" project initiated by BBNL/GFGNL, with an ambition of providing high-speed broadband connection to the uncovered Gram Panchayats of Gujarat, is being executed by ITI Limited.

The first part of the project consists of 3925 GPs across the 3

Islands spread over 12 districts / 70 Blocks. Each island has a GPON network connected through optical Fiber Cable/DWDM/ RFMS from GFGNL State Data Center, with the Optical Line Terminals (OLT) at Block level and Optical Network Terminals (ONTs) and L2 Switch at Gram Panchayat level.

The second part of the project consists of the operation and maintenance of 3925 GPs along with Add-On POs for 360 GPs across the 3 Islands spread over 12 districts / 70 Blocks. Island-1 O&M was started in the month of OCT 2020. Further, O&M of remaining blocks was progressively started from Dec- 2020 to Dec-2021. All 4278 GPs (100%) are lit and the AT for 23 GPs is pending. The pending AT work shall be completed by 31st August-2026. Bharatnet Phase-II Package A O&M is extended for the 6th year up to 31-03-2027 for all Islands spread over 12 districts / 70 Blocks for 4261 GPs. The value of O&M order for the year 2026-27 is Rs 80 Cr.

2. MahaNet Project:

ITI is executing a turnkey project for the provisioning of broadband connectivity across Maharashtra State. This project includes the laying of 20,329 Kms Underground (UG) and 17,841 Km Aerial (OH) OFC, Establishment, Commissioning and Maintenance of a Network comprising IPMPLS (IP Multi-Protocol Label Switching) Routers, Switches, Solar equipment, Microwave radio, Wi-Fi hotspots and Network Operating Centre (NOC). As of 31-03-2026; T&D work of 18,515 km and UG OFC laying of around 17,286 Km, aerial OFC laying of around 15,129 Km length has been completed. The Total Project value is around Rs. 2937 crores including GST.

Further, ITI has received the Operation & Maintenance (O&M) work order for Package A, dated 23.08.2023 for the MahaNet-I (BharatNet -II) Project in Maharashtra, the total value of WO for Package A is Rs. 267.90 Cr (Excl. of GST) for 3 years including a 1-year warranty.

ITI received the Operation & Maintenance (O&M) work order for Package C on 18-08-2023 for the MahaNet-I (BharatNet-II) Project in Maharashtra, the total value for Package C of the O&M work order is Rs. 188.25 Cr. (Excl. of GST), the period of O&M is for 3 years which includes a 1-year warranty.

3. TANFINET Project:

ITI is executing a turnkey project for the provisioning of broadband connectivity across Tamil Nadu State. This project includes the laying of 1,939 Km Underground (UG) and 13,843 Km Aerial (OH) OFC. The total Project value including three-year O&M is around Rs.488.78 Crs (with GST) . As of 31st March 2026 , T&D work of 1,718 km and aerial OFC laying of around 11,978 Km length has been completed. Total GP and Blocks LIT UP scope is 3103 GPs and 109 Blocks spread across 10 districts of the southern part of Tamil Nadu, out of which 2910 GPs and 109 Blocks Completed. The revenue generated in FY 2025-26 through execution of TANFINET project is Rs 32.26 Cr.

4. Andaman & Nicobar Islands:

ITI has received an order worth Rs. 37.27 Crore from BBNL for the implementation of the BharatNet Phase-II project including Supply, Installation, Testing and Commissioning of OFC (underground) and GPoN Network as well as O&M (Operation & Maintenance) across the Union Territories of Andaman & Nicobar. The total number of GPs in ITI scope i.e., 75 are lit in 7 blocks. A total order value of Rs27.91 Cr had been executed up to 31-Mar 2025.

Project was completed by 31st March 2025 and handed over for Phase III execution. The network is currently under O&M of ABP (BharatNet-Phase –III).

5. BSNL 4G West Zone: Supply and I&C of RAN:

As part of the Atmanirbhar initiative, the Government of India has driven BSNL for a prestigious project of indigenous 4G telecom equipment to achieve self-reliance in the telecom gear segment to fulfil domestic market needs and in response, ITI has been awarded an RQ order by BSNL vide APO dated 19-05-2023 followed by the circle's POs received in June/July 2023.

ITI along with TCS as a consortium partner under Phase IX.2 is executing a turnkey project for provisioning 4G mobile network for BSNL WZ states Maharashtra, Goa, Gujarat, Chhattisgarh, Madhya Pradesh & Mumbai LSA. The project consists of RF planning, engineering, supply, installation, testing, commissioning, integration and annual maintenance of the 4G mobile network at 23633 sites in the west zone. The total project value is approx. Rs. 2685.17 Cr.

As per the delivery schedule mentioned in the tender, the first milestone supplies of 23,633 radio equipment's have been delivered to the respective BA for all 5 circles of the west zone as per the priority sites/list given by the BSNL.

As on date, ITI has supplied 23,633 No's and has completed the Installation of 22,482 No's, Integration – 22,073 No's and On Air – 22,073 No's. Also, ITI has generated total revenue of Rs. 2640.55 Cr. against this project. in last three years. On successful completion of the project, ITI has received two orders on 12th & 14th July 2026 for expansion of 4G Mobile Network in BSNL West Zone including saturation sites (DBN funded) for supply, installation and commissioning of 7613 sites. The total value of the orders amounts to Rs 856.39 Crore.

(C) BharatNet Project (Phase-III)

As part of India's Digital Transformation initiative by GoI, ITI has successfully secured three BharatNet Ph III packages valued Rs 7000 Cr - covering Package -8: Himachal Pradesh, Package-9: West Bengal and Andaman & Nicobar Islands and Package-15: NER-II (comprising of Arunachal Pradesh, Nagaland and Manipur) - awarded by BSNL through open tender process. Project execution includes planning, design, supply, installation, end-to-end integration, and commissioning of newly deployed and up gradation of existing network infrastructure including OFC network (underground and aerial). Project period is for 10 years (3 years (I&C) + 7 years (O&M)).

I. Package 8: HIMACHAL PRADESH

Package 8 includes OFC laying (Aerial/UG) of approx. 20,100 Km and total no of GPs/Blocks to be installed and commissioned are 3615 GPs /80 Blocks. As on 31-03-2026, Total No. of GPs lit are 513 and OFC laid is approx. 2525 Km. The Total package cost is approx. Rs. 2100 Cr (incl. GST). We have received Rs.126 Cr advance. We have submitted bills for Rs, 19.29 Cr and received payment for Rs.17.73 Cr.

II. Package 9: WEST BENGAL & ANDAMAN & NICOBAR ISLANDS

Package 9 includes OFC laying (Aerial/UG) of approx. 18225 Km and total no of GPs/Blocks to be installed and commissioned are 3412 GPs /353 Blocks. As on 31-03-2026, Total No. of GPs lit are 347. The Total package cost is approx. Rs. 3000 Cr (incl. GST). We have received Rs.164 Cr advance. We have submitted bills for Rs. 17.70 Cr and received payment for 17.70 Cr.

III. Package 15: NER-II (Arunachal Pradesh, Nagaland, and Manipur)

Package 15 includes OFC laying (Aerial/UG) of approx. 12190 Km and total no of GPs/Blocks to be installed and commissioned are 5902 GPs /258 Blocks. As on 31-03-2026, SNOC IT and Non – IT components delivered and installation in process. The Total package cost is approx. Rs. 1900 Cr (incl. GST).We have received Rs.114 Cr advance. Billing will be commenced from next financial year.

1. ASCON Phase-IV:

The Company has signed a contract with the Ministry of Defense for the execution of the mega order of the Army Static Switched Communication Network (ASCON) Phase IV project worth 7,796.39 crore (CAPEX & OPEX). It includes Installation, commissioning, and maintenance of telecom equipment, NMS, mobile nodes, and civil works for providing the complete infrastructure at various sites and roll-out of the optical fiber network. Contract value has been revised to 8,280.36 crore in Nov 2023.

In the network part, the project covers an IP-MPLS-based communication network with microwave radio & satellite spread across northern, northeastern, and western regions. There are a total of 66 MW radio links which includes 4 MW repeater links and 61 satellite nodes which includes 2 hubs. There are a total of 256 static nodes, 10 Zonal Centres and 2 Central Zonal Centres in the network. Furthermore, there are 86 Mobile nodes mounted on 8X8 Tatra vehicles housing the communication and power systems. The implementation of the project is to be completed in three years and thereafter it must be maintained for ten years including a two-year warranty. The project timeline has been revised on ITI request and the Project must be handed over to Army by Dec 2026.

For PoC activities, the test bed is set up in Delhi. The test bed has IPMPLS, Microwave equipment, Satellite equipment, power systems, UNMS and Net Synchronization equipment. As on date, the PoC test trial has been successfully completed for OFC, Microwave Radio, Satellite, Power systems, Network Synchronization, IPMPLS, UNMS, Test Instruments and Integrated PoC. The PoC test trial of the Mobile Node is in progress and likely to be completed by Aug 2026. Under project Rollout survey work on OFC, Equipment Nodes, Microwave, and civil construction are under progress. As on date, out of 168 optical links work is under progress for 150 links and in which AT is completed for 123 links covering 8558.2 km. The remaining links work is in progress and is likely to be completed by Nov 2026. Under civil construction, there are a total of 183 buildings (17 new buildings, 51 upgrade buildings, and 115 new infrastructure). Work is in progress for 143 buildings out of 183 buildings. Out of 36 Microwave towers work in 10 towers is completed and in 22 sites work in progress. Project Implementation in Region - 4 is under progress & it will be completed by Oct 2026.

Equipment Delivery and network roll-out is under progress. IPMPLS equipment's were delivered at 166 sites in which JRI of 126 sites is completed. Similarly, 312 numbers of Test Instrument were delivered at sites in which JRI of 212 is completed. Delivery of 27 links (31 sites) microwave Equipment in which JRI of 23 sites is completed. Delivery of Equipment for Two Satellite Hub Antenna system & 32 site in which 6 site JRI is completed & Delivery of Network Sync Equipment set at 160 site, power system such as DG set at 159 sites, FCBC at 143 sites is completed. Delivery of all subsystem equipment's will be completed by Sep 2026.

2. Air force Projects:

I. G2G - Upgradation and expansion of AFCEL 3g WCDMA network to 4g LTE / 5g NSA network:

ITI is executing a turnkey project worth Rs. 233.16 crore for the Indian Air Force for the upgradation and expansion of the AFCEL 3G WCDMA network to 4G LTE/5G NSA network. It includes Installation, commissioning, and warranty of 2 Core Mobile Switching Centre, 4 Access sites and 469 eNodeB/ gNodeB RAN sites. 2 Core (Prayagraj & Jaipur) locations and 4 Access (Wadsar, Bengaluru, Barnala, Bagdogra) locations include I & C of Power infra, cloud setup for 4G and 5G NSA core User plane and Control Plane, security solution for Network and video wall for monitoring of network.

A total of 469 RAN is to be installed at 167 geographical locations across India. 148 sites are existing sites, towers need to be upgraded to eNodeB (4G) and gNodeB (5G), 102 existing sites are to be upgraded to eNodeB (4G) only. 45 sites are newly built Sites (NBS) where the Tower foundation and civil, power works for providing the complete infrastructure have to be done. 100 eNodeB (4G) sites are In Building Solution (IBS) and 74 eNodeB (4G) sites are on Digital Mobile Relay Radio (DMRR) vehicles and operating on 700MHz frequency. The project also includes Supplying and laying a 200 Km Optical fibre cable with accessories to connect the RAN site to the backhaul network wherever required. As on date, out of 469 eNodeB/gNodeB, 449 RAN sites have been installed and 447 RAN sites are ON Air. AT of 437 RAN sites is completed. The total scope of work as provided by the IAF has already been completed. The project is completed and is declared Go-live w.e.f. 01.10.2025. Presently, the project has been in the warranty phase since 01-10-2025. II. FCI (IAF-1) Project: Upgradation of Ops Application Systems: ITI has executed a turnkey project for the Indian Air force (IAF) for the Upgradation of Ops Application Systems in which Data Centres at 05 (Five) locations (Delhi, Mumbai, Bengaluru, Prayagraj and Shillong) have been upgraded with Hyper-Converged Infrastructure (HCI) Technology. The Total Project value including 02 (TWO) years of warranty was Rs. 269.41 Crs. The project is completed and is declared Go-live w.e.f. 01- 10-2023. Also, the warranty phase has been completed on 30.09.2025.

3. NFS Project:

Network for Spectrum (NFS) is a dedicated communications network. The telecom department (DOT) is setting up this network for the Defence Forces - in lieu of airwaves (Spectrum) to be vacated by Defence for civilian use.

This (NFS) mega network will be deployed with state-of-the- art Optical Fiber Cable (OFC) technology which will form the backbone optical highway infrastructure and serve as a highly resilient and reliable communication media for the Defence sector. Once complete, the state-of-the-art dedicated OFC network for the Army, Navy, and Air Force will enable improved voice and data communication and boost homeland security for the country. The network is a highly resilient exclusive nationwide optical backbone covering total OFC routes, aggregating 57,015 km. The network will connect 414 Defence sites and access networks (i.e., 219 Army stations, 33 Navy stations & 162 Air Force). The PICG has been created for the planning, operations, and maintenance requirements of this project on behalf of the Ministry of Defence. The Defence NFS project consists of a total of approx. 57,015 km of OFC route, is divided into seven packages (A, B, C, D, E, F & G). BSNL, the implementation agency for India's Defence NFS (Network for Spectrum) optical fiber cable (OFC) project has awarded Purchase orders for all seven packages. Out of seven packages, BSNL has placed Purchase Orders on ITI Ltd for Package - F and Package- G. The progress of NFS project for FY 2025-26 I. PKG-F: ITI Ltd, Mankapur has been allocated for execution of NFS Package-F. It covers total 102 OFC Links covering 5791 Kms OFC route length (NLD & Access). The BSNL PO value on ITI Ltd for the Pkg-F is Rs. 915.75 Cr (Material + Services + Restoration Services) + 322.47 Cr (AMC for 7 years for maintaining the network) Total 102 OFC links have been commissioned as on date. The turnover achieved in FY 2025-26 for Package F is Rs.120.07 Cr (Incl. of GST). II. PKG-G: ITI Ltd Raebareli has been allocated for execution of NFS Package-G. It covers total 110 OFC links covering 7518 Kms (NLD & Access) The BSNL PO value on ITI Ltd for the Pkg-G is Rs.1267.30 Cr (Material + Services) + Rs.550.56 Cr (AMC for 7 years for maintaining the network once it is laid). Total 106 OFC Links have been commissioned as on date. The turnover for Package G during the FY 2025-26 is Rs. 49.11 Cr (Incl. of GST).

(E) Airtel NLD Orissa:

ITI has received an order worth Rs.26.73 Crore from Airtel for OFC laying, Trenching, and digging work for the NLD backbone for 824 Km. All work has been completed successfully and got an AT Certificate for 738.94 Km. Revenue generated from this project so far is Rs. 23.83 Cr. AT is under progress for the remaining Kms.

(F) DBN(USOF) PILOT Project:

ITI Limited is carrying out the Pilot Project in rural areas of Karnataka state for utilization of BharatNet under the Universal Service Obligation Fund (USOF) to execute indigenously developed technology utilizing E- band and 4G/LTE-based solutions. The purpose of this pilot project is to reap the benefits of innovation and strategy in the private sector, academic & research fraternity for better utilization and improved service delivery to the citizens by utilizing BharatNet. ITI has received a work order of worth Rs.39.84 Cr. (Excl. of GST) from USOF. All allotted work has been completed. Project has been handed over to BSNL, Final Invoices has been submitted to DBN/USOF.

(G) DBN (USOF) TPA Project:

ITI Limited entered into an agreement with DBN(USOF) for conducting third-party audit work for the sites installed under various agreements signed between USOF and M/s BHL/RJIL/BSNL for provisioning of mobile services across India. The total number of sites allocated under PO amounts to 34,415, with a project value of Rs 77.8 Cr, Sites allocated for audit 7100 total, audit completed sites 5524. Revenue generated so far is Rs. 10.58 Cr.

MARKETING SERVICES AND PROJECTS (MSP)

The total turnover from the Corporate Marketing units for the year 2025-26 was Rs.839 Cr. The MSP wise turnover breakup is given below:

1) MSP Karnataka

Total performance achieved for the financial year 2025-2026: Rs 25.92 Crs Major Projects

• BSNL BNG project - BSNL 5.61 Cr

• Central Railway - CCTV -11.46 Cr

• DCDR - Odisha Industrial Infrastructure Development Corporation Ltd (IDCO) -0.384Cr

• ITMS-Odisha Mining Corporation- 0.7 Cr

• OFC Laying - Southern Railway, Podanur OFC1- 0.35 Cr

• OFC Laying - Southern Railway, Podanur OFC2 -1.039 Cr

• OFC Laying - Southern Railway, Podanur OFC3- 0.39 Cr

• BESCOM Ganga Kalyana (Unified Portal) - 0.737 Cr

• BESCOM Ganga Kalyana (Unified Portal) Extension order- 0.288 Cr

• BESCOM Ganga Kalyana (Unified Portal) 2nd Extension order- 0.144 Cr

• Upgradation of OFC - Bank Note Printing Mill Pvt Ltd- 0.15 Cr

• NMPA - 0.14 Cr

• Cochin Port Trust- 0.058 Cr

• OMC 5th Year AMC- 2.492 Cr

• OMC Storage Solution- 0.06 Cr

• E-tendering business through Unibrain- 1.916 Cr

2) MSP Chandigarh

Total performance achieved for the financial year 2025-2026: Rs 14.36Cr Major Projects

• Extension of Setting up of DR site along with Hardware and Software at ITI Data Center, Bangalore on annual rental basis for 03 Years- 2.81 Cr

• Training for Adolescent girls in Secondary schools of HP (SUPW Project)- 5.83 Cr

• Implementation of C-SOC in HPSCB Banks-2.66 Cr

• Digitization of Industrial Records and Setting up of Data Centre in the Department of Industries under Raising &Accelerating MSME Performance (RAMP) Programme in the State of Himachal Pradesh-2.85 Cr

• AMC of CCTV of 196 branches and 31 ATMs in HPSCB Shimla-0.61 Cr

• AMC of Computer Hardware of newly opened 24 branches of HPSCB Shimla-0.03 Cr

3) MSP Lucknow

Total performance achieved for the financial year 2025-2026: Rs 194.20 Cr

Major Projects

• Facility Management Service of UKSWAN—52.38 Cr

• Human Resource Recruitment Services for National Health Mission, Uttar Pradesh.-49.92 Cr

• Implementation of Ground Check Solution" in Chhattisgarh -46.44 Cr

• Implementation of Smart Classes in the State of Uttarakhand.-22.54 Cr

• Supply and Delivery of Labour (tool) Equipment Kit for Registered Workers of UKBOCW-20.92 Cr

• Supply of Disposable Non-Biodegradable Towelettes for Feminine Hygiene for Samagra Shiksha Uttarakhand Dehradun-7.96 Cr

• Extension of the Project for Development, Implementation Operation Maintenance of Custom Dashboard Portal enabled by AI/ML Platform under ITDA-UK, for CM-Helpline Portal of Uttarakhand (UK) Govt.-4.77 Cr

• Preparation of database for Student's Examination and Student's redressal of Guru Jambheswar State University Muradabad - 3.00 Cr

• Providing Skill Development, Training and Infrastructure for Training for End Customer. Uttar Pradesh Scheduled Caste Finance and Development Corporation Limited (UPSCFDC) B- 12, Sector-C, Mahanagar Lucknow- 2.50 Cr

• AMC and Operations of Electronic Equipments at U.P. Vidhan Parishad- 1.99 Cr

• AMC of Graphic Monitor system & Digital flash System for UP Awas Vikas Parishad Lucknow for period of 03 years (AMC period from (04.09.2025 to 03.09.2028)- 0.819 Cr

• End-to End solution for receipt of on-line applications and/ or conducting offline OMR Based test/(objective/descriptive) written examination and trade test/typing test/proficiency test / Personality cum physical test for recruitments in CSIR-CBRI, Roorkee- 0.46 Cr

• To develop a secure, scalable web portal for managing multiple scholarship schemes. State Council of Education Research and Training (SCERT) Tapowan Road, Narurkheda, Dehradune - 0.22 Cr

4) MSP Kolkata

Total performance achieved for the financial year 2025-2026: Rs.126.00 Crs

Major Projects

• IP-MPLS based Network at ECR-36.66 Cr

• Providing 536 Resources on outsourced basis at AIIMS-Kalyani- 19.91 Cr

• Installation of CCTV Surveillance System along with Setup of Traffic Signal System in Odisha-19.05 Cr

• Deployment of Resources at various Government Health Institutions across the State for Implementation of OeHMIS - 12.96 Cr

• Providing 195 Resources on outsourced basis at AIIMS-Kalyani- 10.61 Cr

• Installation of 175 Smart Class Solutions in Govt. Schools of Sambalpur (87) & Sundergarh (88) Districts of Odisha- 4.9 Cr

• Implementation of Wi-Fi facility at Ravenshaw University-4.57 Cr

• Providing 60 Technicians on outsourced basis at AIIMS-Kalyani- 3.64 Cr

• Implementation of UMIS Project at BNMU, Madhepura-3.23 Cr

• Design, Development, Implementation & Maintenance of IFMIS Solution- 3.2 Cr

• Setting-up of ANPR System at Selected Location in the State of Chhattisgarh- 2.4 Cr

• Providing 47 Technical & 28 Administrative Staff on outsourced basis at AIIMS-Kalyani- 1.48 Cr

• IP based CCTV Surveillance at IOCL- 0.87 Cr

• Providing 17 DEO on outsourced basis at PPA- 0.87 Cr

• RO-Kolkata (Misc.)- 0.63 Cr

• Supply of 500 sets of S3 EVM (CU-500 nos & BU-500 nos) at SEC-WB- 0.47 Cr

• Supply of DI EVM/EVM Rupay Debit Chip card to RSCB- 0.39 Cr

• Development of Website and E-Office at MMHA&PU- 0.16 Cr

5) MSP Ahmedabad

Total performance achieved for the financial year 2025-2026: Rs 9.11 cr

Major Projects

• Limited Inquiry No: GIPL/DC-Servers/25-26/19 issued for Procurement of Servers for GIPL's Data Centre located at Info city, Gandhinagar. - 0.03 Cr

• Limited Inquiry No: GIPL/Security Audit/ERP/25-26/18 issued for Cyber Security Audit & Assessment of the live ERP system developed by GIPL-0.04 Cr

• Engineering, Procurement, Design, Supply, Installation, Testing, Commissioning & Labour for the "Variable Message LED Display, Fixed Type Road Map Signages, Advertising Purposes" With communication Network Infrastructure, Fixed Type Road Map Signages along with software and all Types of allied accessories including 5-year Comprehensive warranty with 0&M&R required at Dahej -1,2,3 GIDC- 9.04 Cr

6) MSP Guwahati

Total performance achieved for the financial year 2025-2026: Rs 6.65 Cr

Major Projects

• IIT Guwahati Campus Wifi Project Braos- 1.34 Cr

• APDCL SOLAR PROJECT- 0.51 Cr

• BSF SOLAR PROJECTS-4.8 Cr

7) MSP DELHI

Total performance achieved for the financial year 2025-2026: Rs. 210.17 Cr

Major Projects

• Supply of Tool Kits for Barber trade under PM Vishwakarma Scheme against redemption of e-Voucher. - National Small Industries Corporation Ltd. (NSIC)- Rs. 73.41 Cr.

• Supply of Tool Kits for Potter Trade under PM Vishwakarma Scheme against redemption of e-Voucher. - National Small Industries Corporation Ltd. (NSIC)- Rs. 54.75 Cr.

• Supply installation commissioning testing, training & deployment of manpower for 63 no of V-kawach 2.0 Jammers (up to 5G and 5 GHz Wi-Fi) to be installed at 03 completed and high security Zones of 10 other jails – Punjab Prison- Rs 53.59 Cr

• Supply of Tool Kits for Washerman (Dhobi) under PM Vishwakarma Scheme against redemption of e-Voucher - National Small Industries Corporation Ltd. (NSIC)-Rs 26.28 Cr

• Skill development, entrepreneurship and leadership of minority women and education support for school dropouts for minorities from financial years 2024-25 - Ministry of Minority Affairs (MOMA)-Rs 26.05 Cr

• Additional 25% for Supply of (17500 Nos.) Tool Kit for Barber trade under PMV - National Small Industries Corporation Ltd. (NSIC)-Rs 18.35 Cr

• Providing Infrastructure Logistic Support & Study Material under PM-Vikas Educational Component - National Institute for Entrepreneurship and Small Business Development (NIESBUD)-Rs 14 Cr

• OUTSOURCING OF MANPOWER OF CONTENT MONITORING, TECHNICAL, ADMINISTRATION & LOGISTIC SUPPORT STAFFS IN EMMC - Electronic Media Monitoring Centre (EMMC)- Rs 12.78 Cr

• Supply, installation, commissioning of 14 Nos. of V-Kavach 2.0 Jammers (up to 5G and 5 GHz WI-Fi) at Central Jail, Jammu Kotbhalwal and central Jail Srinagar and deployment of trained manpower – Jammu Prison-Rs 11.80 Cr

• V-Kawach-2 Jamming Solution for Central Jail, Hisar-1, Hisar-2, District Jail, Faridabad, Kurukshetra, Kaithal & Sirsa- Haryana -Haryana Prison - Rs.9.32 Cr

• Additional 25% for Supply of Tool Kit for washerman trade under PMV - National Small Industries Corporation Ltd. (NSIC) -Rs 6.57 Cr

• Implementation of Decentralized sewage treatment plant - Nagar Palika Parishad Baraut (Baghpat)-Rs 5.34 Cr

• Implementation of TEAM Initiative and Up grading & managing digital commerce of MSME Global Mart - National Small Industries Corporation Ltd. - National Small Industries Corporation Ltd. (NSIC)-5.22 Cr

8) MSP Mumbai

Total performance achieved for the financial year 2025-2026: Rs 217.38 Cr

MAJOR PROJECTS

• Facility Management Services – Service- 39.18 Cr

• Solid Waste Management- 22.89 Cr

• Live web casting of Assembly Election-8.3 Cr

• AMC of Telephone Exchange EPABX of NEC SV 9100 and Telephone Lines at Mazagaon Dockyard - 0.028 Cr

• LED/CCTV - SI for implementation of IT Infrastructure related projects on behalf of GIPL- 7.1 Cr

• SI for computerization/IT of Primary Agricultural Credit Society (PACS), NABARD- 5.2 Cr

• Bank Exam-1.7 Cr

• Supply of Armoured Bullet Proof vehicles-6.5 Cr

• Brihanmumbai Municipal Corporation, SITC, Programming and synchronizing of various IT works along with exterior Miscellaneous Civil works at Project Command Centre, -8.3 Cr

• 1U Rack Mount server-0.06 Cr

• Supply installation - Procurement of LiFi system for Naval communication and network centre (NAVY)-1.9 Cr

• Aapke Sarkar- Set-up, operationalize, rollout and monitor the implementation of Aapke sarkar Seva Kendra (ASSK) in Gram Panchayats of various districts of Maharashtra-115 Cr

• SITC e-book management system-0.09 Cr

9) MSP Hyderabad

Total performance achieved for the financial year 2025-2026: Rs 1.65 Cr

MAJOR PROJECTS

• BRAOU Project- 0.0289 Cr

• Installation of 2kW solar power for 272 Zilla Parishad Schools Nagpur- 0.34Cr

• AMC of BBNMS Project-1.29 Cr

10) MSP Chennai

Total performance achieved for the financial year 2025-2026: Rs 15.99 Cr

MAJOR PROJECTS

• Design, supply, installation, testing and commissioning of IP Based CCTV Surveillance System along with associated works at our Operating Locations, AFS and LPG Plants under Tamil Nadu State Office: 4.2 Cr

• Development of ICCC at Kamara jar port Limited, Chennai : 3.09 Cr

• SITC of Video Surveillance System at 31 stations in Chennai central-Jolarpettai and Arakkonam to Renigunta section of Chennai Division : 1.51 Cr

• Aadhar Services-KVB, CUB: 1.5 Cr

• Nomination orders (TNAU): 1.06 Cr

• Providing Maintenance Services for Telecommunication Systems at Phase-1 Stations, Admin Building, OCC, Viaduct, Tunnel, Depot and other related premises/stages of CMRL including Trains: 0.99 Cr

• Providing IBS solutions: 0.64 Cr

• SMPS repairs at BSNL SSAs of Tamil Nadu circle: 0.35 Cr

• EPABX: 0.16 Cr

11) MSP Bhopal

Total performance achieved for the financial year 2024-2025: Nil

MSP Trivandrum

Total performance achieved for the financial year 2024-2025: 2.82 Cr

MAJOR PROJECTS:

• Supply of ID Cards

a) Number of Locations

b) What is the contribution of exports as a percentage of the total turnover of the entity? Nil c) A brief on type of customers: The following are the Customers of ITI for supply of various Products, Services and Turnkey Products.

• Army, Navy, Indian Air Force and Ministry of Home Affairs

• PSU like BSNL (Bharat Sanchar Nigam Limited), MTNL (Mahanagar Telephone Nigam Limited), BBNL (Bharat Broadband Network Limited),EESL (Energy Efficiency Services Limited), C-DoT (Centre for Development of Telematics),BEL (Bharat Electronics),

• Central Government and State Government organizations like OPTCL (Odisha Power Transmission Corporation Limited), TANFINET (Tamilnadu Fibrenet Corporation Limited), MITCL (Maharashtra Information Technology Corporation Ltd),JCNL (Jharkhand Communication Network Limited)GFGNL (Gujarat Fibre Grid Network Limited),KSEDC (Karnataka State Development Council), KITE (Kerala Infrastructure and Technology for Education), UREDA (Uttarakhand Renewable Energy Development Agency), BREDA (Bihar Renewable Energy Development Agency), UPNEDA (Uttar Pradesh New& Renewable Energy Development Agency), National Small Industries Corporation Ltd. (NSIC)

• Department Of Post, DoS (Department Of Space), Railways.

• Private customers like Banks, Educational Institutions, Universities, Hospitals,

EFFORTS UNDERTAKEN BY CORPORATE MARKETING DURING YEAR 2025-26:

As part of marketing activities, ITI through Corporate Marketing & MSPs is addressing all the major business opportunities in Telecom, ICT, IT/ITeS, IoT, Defense, Software solutions, Smart Solutions, CCTV Surveillance, Geo fencing, etc.

• Addressed BSNL Bharatnet Phase III Tender for the Development (Creation, Upgradation and Operation & Maintenance) of Middle mile network of BharatNet on Design Build Operate and Maintain (DBOM) Model for 4 packages (Rajasthan, Haryana, NER1 and Assam

• Addressed BSNLTender for the Selection of Next-Gen WAN Solution Provider (NGWSP) for IT Modernization Project 2.0 of the Department of Posts (DoP) .

• Addressed Request for Proposal For Hiring of Master System Integrator for PFMS by Controller General Of Accounts, Ministry of finance

• Submitted Business proposals to potential customers for CCTV Surveillance project in Noida Safe City, Global Positioning System Hand Held (GPS HH) for Indian Army, Digitisation of APMCs in various states, Digital solution for MSMEs. etc

• Identification of new business opportunities through tenders and allotment of tenders to concerned MSPs as per the jurisdiction and units manufacturing capability.

• Empanelment of Vendors in various business categories- Approximately 250 vendors have been Empanelled

• Presentation was conducted over VC for all MSPs on the following projects/products:

• ICT Products, Solid Waste Management, Battery Regeneration, Software Defined WAN, Medical Reimbursement software solution, AI Solutions etc.

RATING IN MEMORANDUM OF UNDERSTANDING:

During Inter-Ministerial Committee (IMC) meeting held on 28th June 2023, IMC recommend to exempt ITI Limited from signing of MoU for FY 2023-24 and 2024-25. Moreover company is excluded from signing for FY 2025-26 also.

I. Future Outlook

The Company has undertaken many initiatives/ projects so as to boost the turnover and implement the Revival plan.

A. SD-WAN (Software Defined Wide Area Network) Solution

The global Software-Defined Wide Area Network (SD-WAN) market is expanding rapidly, with an estimated global value of over $9.5 billion in 2026. Software Defined Networking could be SD-WAN, SD-Campus and SD-Data Center. All network devices need to be managed through single management plane viz SDN.

ITI Ltd is exploring potential opportunities with Indian Network Managers like Nirad NW and BharOS, to enable SD Networking.

B. BharatNet Project

ITI Limited, is executing BharatNet Phase-3 Projects in Himachal Pradesh, West Bengal & Andanman & Nicobar island and in North east states comprising of Arunachal Pradesh, Nagaland and Manipur.

ITI Ltd is making all efforts to manufacture and supply the sub-system components Optical Fibre Cable, HDPE duct, Smart Rack, UPS, FDMS, Router, Switches etc, in order to ensure gainful utilisation of hi-tech Electronic Manufacturing Infrastructure of ITI Ltd.

C. Manufacturing of Multipost EVM:

ITI has developed the "Multipost" (S3-EVM), a solution to meet the requirements of State Election Commissions (SECs), which is considered better than the M3-EVM, currently being used as Single Post EVM for conduct of national Elections (manufactured by ECIL & BEL). The multi-post S3-EVM is ideally suited for Gram Panchayat Elections.

ITI Ltd has supplied 500 Control and Ballot Units to the West Bengal State Election Commission.

ITI Ltd is making all efforts to customise the S3-EVM to meet specific requirements of each State Election Commission and also trying to make M3-EVM to meet the National Election Requirements.

D. Implementation of Mono Crystalline (PERC) Solar Module Manufacturing facility 500 MW

Solar module manufacturing capacity has trebled from 5.8GW in 2016 to about 39 GW in December 2022 and it is further expected to reach 110 GW by 2026.

The Mono crystalline solar modules made with Mono PERC Solar Cell technology are being widely used in Utility scale solar projects, Residential purposes, PERC solar panels can be used as regular rooftop photo-voltaic,

ITI is planning to implement 500 MW Solar Module in-house manufacturing facility with High Efficiency Mono Crystalline Solar Cell with an investment of Rs. 80 Cr.

As part of Diversification, ITI Ltd has also signed ToT with Solar Street Light designers for Joint Manufacturing Efforts at ITI Naini.

E. 4G RAN Manufacturing with CDOT Technology

ITI has entered into Transfer of Technology with CDOT for manufacturing of 4G LTE RAN. ITI has received Purchase order for Technological trials of indigenous 4G and 5G RAN from BSNL.

PoC testing of Band 1,3,8,28 were completed successfully and TEC Technology approval certificate is received. PO received from RDSO (Under Ministry of Railways) for Supply, Installation, Testing and commissioning of 4G RAN in Secunderabad for Trial/PoC, worth of Rs 5.24 Cr (30 e NodeBs). Also from RailTel (Under Ministry of Railways) received PO for the supply, installation, testing and commissioning of 13 eNodeBs of worth Rs 2.16 Cr.

F. Multi Service Platform(MSP)/ Security Operation Centre (SOC) :

ITI has setup a Multiservice Platform/Security Operation Centre (SOC) in its Data centre in Bangalore. Various IT and security services like Identity Access Management, Email Security, Data Loss Prevention, Distributed Denial of Service (DDOS) Mitigation, Network Access Control, Endpoint Protection, Detection & Remediation, SIEM (Security Incident and Event Management) and Threat Intelligence & Advisory would be provided to various clients to fulfil their network security requirements.

ITI has signed a contract with a Revenue Sharing Partner M/s Vinca Tech for gainful utilisation of the SOC infrastructure and avail business opportunity.

G. Revenue Sharing Partner for New Data Center (DC-2)

The DC-1 is currently operational with the help of Revenue Sharing Partner M/s EbixTech (Formerly M/s Trimax IT solutions Pvt Ltd) since 2008, in which all 350 rack spaces are currently being utilised.

On similar lines, DC-2 having 937 rack space operational since 2021 has also being signed for Revenue Sharing Model with M/s Subha Technical services for 658 rack space.

Remaining 275 rack space will be utilised by ITI Ltd, with other Tech Partners / colocation customers.

H. Major R&D initiatives taken by the company:

Team R&D with the help of tech partners is developing the following products: -(a) Encryptors of various throughput and communication protocols for various Armed Forces under MoD and MHA.

(b) In addition, DRDO and other agencies are also demanding for encryptors manufactured by ITI Ltd.

(c) Other Non-Encryption Products include the following: - (i) DMR

(ii) IRNSS – GNSS / NAVIC System with NRSEM or RS services (iii) HCRR

(iv) SDR

(v) Smart Energy Meter

Renewal of NABL Accreditation was awarded to ITIs EMC Lab on 09.10.2025 valid until 08.10.2029 with scope extension including Environmental tests. EMC Lab can now perform testing of equipment according to MIL 461E/F/G, JSS 55555, QM333 and Mil-Std-810E/F/G/H standards, which is expected to bring more business in this FY 2026-27. Designation of ITI EMI/EMC Lab for CAB (Conformity Assessment Body) status obtained from TEC Delhi on 17-12-2024 valid until 16.12.2027.

I. Start-up hub:

In alignment with the Government's Start-up India mission, ITI has undertaken the establishment of a 1,000-seat Start-up Hub at its ITI Bangalore Plant campus in a phased manner to foster innovation and entrepreneurship across the country. ITI aims not only to support product development but also to manufacture successful products in-house and facilitate their commercialization.

Currently, Vinyas has provided space to nearly 30 companies and has signed Technology Transfer (ToT) agreements with several start-ups. The start-ups are working in various technologies ranging from drones, electronics, defence equipment, and IT networking infrastructure. These collaborations are aimed at enhancing the visibility and exposure of start-ups among government organizations as well as private-sector entities.

CONTRIBUTION TO EXCHEQUER

During the year, your Company has contributed Rs.154.93 Crore to the Exchequer towards duties and taxes.

PUBLIC DEPOSIT

The Company did not accept any deposits during the year 2025-26.

CREDIT RATING

Details of all credit ratings obtained by the entity along with any revisions thereto during the relevant financial year, for all debt instruments of such entity or any fixed deposit programme or any scheme or proposal of the listed entity involving mobilization of funds, whether in India or abroad: During the year under review, the Company had obtained following credit ratings w.r.t. working capital facilities availed from Banks:

INDIA SATCOM LIMITED (ISL)

India Satcom Limited (ISL) is a joint venture between Chris Tech Systems Pvt. Ltd. and ITI Limited, with Chris Tech Systems Pvt. Ltd. holding a 51% equity stake and the remaining equity held by ITI Limited.

ISL has entered into a Joint Development Agreement for development of its own property into a world-class Software Technology Park under the name "Silicon Forest." The project has been designed by an internationally renowned architectural firm and is planned in accordance with the standards prescribed for IGBC Core & Shell Gold Certification. The project has obtained the key statutory and regulatory approvals from the concerned authorities. Construction of the Software Technology Park has commenced, and the project is under active development, marking an important milestone in ISL's long-term infrastructure growth.

ISL has also developed "SatPAY," a Payment Aggregator and Payment Gateway technology platform incorporating advanced features such as AI-driven customer support and fraud detection. The Company is in the process of obtaining the requisite regulatory approvals and proposes to offer SatPAY as a Software-as-a-Service (SaaS) platform to Government and private-sector enterprises.

During FY 2025-26, ISL successfully secured and executed software export orders, resulting in a significant improvement in its operational and financial performance and enabling the Company to achieve a turnaround to profitability. The software export business has also strengthened ISL's presence in the global technology services market.

The Silicon Forest and software technology initiatives have already generated direct and indirect employment opportunities for more than 500 persons. Upon completion, Silicon Forest is expected to provide infrastructure capable of supporting approximately 25,000 software professionals. With the development of Silicon Forest, expansion of the software export business and proposed commercialisation of SatPAY, ISL is positioned for substantial long-term growth and value creation. Based on the anticipated potential of these initiatives, ISL's net worth is expected to exceed _1,500 crore over the coming years.

There was no Company which became or ceased to be subsidiary, joint venture or associate of the Company during the year under review.

The salient features of the Financial Statement of Joint Venture Company are furnished in form AOC-1 which is appended to this report as Annexure 1.

QUALITY

ITI Limited is always committed to Quality and we understand that Quality encompasses all functions. Conscious of the importance of the quality, since the very beginning of its incorporation, the company has introduced many quality procedures and practices and has established various Quality Management Systems and necessary infrastructure over the years. All the Manufacturing Units of the Company are certified for ISO based Quality Management Systems i.e ISO 9001 and ISO 14001 Environment Management System. The Company has created the required Infrastructure by establishing state-of-the-art test facilities like environment test chambers, high altitude test facilities, bump & vibration test facilities, calibration facilities for electronic test instruments, EMI / EMC test facilities, etc.

Facilities for Highly Accelerated Life Testing (HALT), Highly Accelerated Stress Screening (HASS) and combined environmental testing have been established for enhancing product reliability. Around two Labs have been accredited by NABL. Requisite competency on various aspects of quality and reliability has been built by imparting training to the employees every year for ISO under on-going competency development programme. Efforts are paying benefits to the Company in many ways like improving our processes, reducing costs and improving profitability, enhancing customer satisfaction and earning goodwill, trust and reputation. With all these infrastructure in place along with necessary available competency and very high level of quality awareness within the company we are poised to comfortably meet any forthcoming challenge on this front in future. The Company is continuously following all the methods & procedures for maintaining the Quality in all spheres. ITI Units are certified for ISO based Quality Management Systems i.e ISO 9001:2015, ISO 14001:2015 Environment Management System and ISO 45001 Occupational Health and Safety Management. NABL Accreditation in compliance with ISO/IEC 17025:2017 for Smart Energy Meter LAB ID C-2524 Certificate No.CC-4475 validity 08/07/2025 to 07/07/2029. Desktop surveillance audit on 01/08/2026.

TSEC (Technical Specification Evaluation Certificate Issued by QA of BSNL) for

• Permanently Lubricated HDPE Telecom Ducts

• Executive Telephone System (ETS-04),

• Optical Fibre Cable ( various Types )

• Fiber Distribution Management System

• Electronic Telephone Instrument with CLIP and Two way speaker feature(Type-A)

• Smart Rack

BIS (Bureau of Indian Standards) Certification for

• Crystalline Silicon Photovoltaic (PV) Modules

• Smaash PC

• Laptops

IEC (International Electro-Technical Commission) certificate for "Solar PV Module" TEC (Telecommunication Engineering Centre) Type Approval certificate for Permanently Lubricated HDPE Telecom Ducts NABL Certification

• EMI/EMC Lab at Bangalore Plant;

• Smart Energy Meter Calibration Laboratory at Palakkad Plant.

Accreditation of VSSC (Vikram Sarabai Space Centre, Trivandrum) for

Component Screening, Test & Evaluation, Assembly & Testing of flight Packages.

MANPOWER

The Company recognizes the importance and contribution of its Human Resource in providing the competitive advantages. It emphasizes on upgrading the skills and capabilities of its employees to improve their productivity. The company is conducting training and workshops in new and strategic areas, so that its employees are ready to face challenges in the coming years. HR initiatives are focussed on developing team spirits, employee's empowerment and their involvement in various activities. All HR efforts are in alignment with the business priorities and with an objective of smooth transition to latest Technology.

EMPLOYEES STRENGTH

• Employee Strength at the end of FY 2025 – 26 i.e., 31st March 2026 was 1166, out of which 285 employees were female.

• As on 31.03.2026, there were 191 Employees belonging to SC Category, 43 Employees belonging to ST Category and 264 Employees belonging to OBC Category.

• 13 Employees on tenure, 35 Advisors/Consultants, 62 Young Professionals were recruited during the FY 2025-26.

• There were 09 Employees belonging to PwBD categories and 13 employees belonging to Ex Servicemen category, on the rolls of the Company at the end of FY 2025-26.

INDUSTRIAL RELATIONS

ITI has glorious tradition of building and maintaining conducive employee – employer relationship environment. The Industrial relation scenario in the Company was cordial throughout the year. Employees Union and Officer Association extended their co-operation and support in ensuring smooth work flow and helped to meet the Company's Objectives.

PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

As per the requirement of Sexual Harassment of Women at workplace (Prevention, Prohibition and Redressal) Act 2013, and Rules made there under, Company has constituted Internal Complaints Committees (ICC) to redress complaints received regarding Sexual Harassment at all Units. All Employees (Regular, Tenure Contract, Trainees and Young Professionals) are covered under this Policy. Company has complied with the provisions relating to the constitution of ICC and during the year 11 cases / complaints have been filed under the Act.

DEVELOPING EMPLOYEES CAPABILITIES & COMPETENCIES

ITI Limited recognizes the significance of employee development by enhancing employees' skills and competencies, thereby enabling them to effectively meet future challenges.

i) Training & Development:

In the current global business environment, characterized by rapid technological advancements, it is essential for organizations to continuously acquire relevant skills and knowledge. To effectively address emerging challenges, organizations are placing significant emphasis on developing new talent, enhancing existing capabilities, and strengthening overall organizational capacity. A competent and well-trained workforce is a key organizational asset and the cornerstone of business success, contributing significantly to operational excellence, enhanced productivity, innovation, sustainable growth, and the achievement of the Company's long-term strategic objectives.

The key challenge for the organization at present is a shortage of skilled personnel, largely due to the attrition of trained and experienced employees. The HR Department meticulously plans and implements training and development programmes to address skill gaps and overcome emerging challenges. ITI Limited has adopted a strategy focused on employee training, development and capacity building through a systematic and need-based planning approach, including identification of training requirements, design, and customization of training programmes.

Learning and development is a core value at ITI Limited. Recognizing the importance of building capabilities for current and future roles, the Company has established comprehensive training facilities through Employee Development Centers (EDCs) across its plants at Bengaluru, Palakkad, Mankapur, Raebareli, and Naini. The Learning and Development function focuses on enhancing employees' technological skills, business acumen, and leadership capabilities to effectively address future challenges. Training is imparted through various modes, including classroom sessions, online platforms (web-based and video conferencing), and e-learning, with increasing emphasis on technology-driven platforms.

With a strong focus on alignment with the Company's business objectives, the organization continues to emphasize employee-centric skill development across technological, managerial, customer relations, and quality domains. The Company is committed to enhancing capabilities in emerging telecom technologies through active engagement with reputed institutions such as the National Communications Academy – Finance (NCA-F), Institute of Secretariat Training and Management (ISTM), Telecommunication Engineering Centre (TEC) – Department of Telecommunications (DoT), Centre for Development of Advanced Computing (C-DAC), and Department of Public Enterprises (DPE) etc. In addition, the Company has strengthened HR learning interventions and employee development initiatives to support organizational growth and future readiness.

Employees get regular access to enhance the skills/knowledge on areas like new technology/general training courses such as Internet of Things (IoT) – Basic & Advanced, 4G & 5G Manufacturing, 6G Standardization, Industry 4.0, Cyber Security, Internal Auditor Training Course on QMS ISO

9001:2015 & EMS ISO 14001:2015 EMS Standards, Working Smarter: Using AI for Everyday Office Productivity, Disciplinary Proceedings, POSH Act, Government e-Marketplace (GeM), Public Financial Management System (PFMS) and Wellness sessions etc.

In order to develop and improve their abilities, knowledge, attitude, and exposure to new technology, in total 68 programmes were organized/ coordinated and 1097 employees (approx., 490 employees participated in one or more programmes) were trained during the FY 2025-26. ITI Officials were nominated for external training programmes, workshops and webinars conducted by various Governmental organizations/private institutions in key functional areas. These training programmes contributed to enhancing employees' change management capabilities, fostering innovative approaches, strengthening critical thinking skills, and promoting a positive outlook towards building a high-performance work culture.

In a nutshell, in respect of Employee Development - training performance of ITI Limited during the FY 2025-26 is as follows:

Note: IH-In House, EN: External Nomination

In addition, the iGOT (Integrated Government Online Training) Karmayogi platform, launched by the Indian government as part of the National Programme for Civil Services Capacity Building - Mission Karmayogi, provides an integrated framework for online learning, competency management, career management, discussions, and networking.

ITI employees have actively undertaken online training programmes through the iGOT Karmayogi platform to enhance their knowledge and skills across various domains. During FY 2025-26, a total of 2,860 (Unique 230) training completions were recorded by employees.

Talent Development:

At ITI Limited, the Company is committed to the overall development of its employees, recognizing that nurturing our talent is as important as advancing our products. The Company places strong emphasis on continuous training and development initiatives to enhance employees' knowledge, familiarize them with emerging global trends in technology and innovation, and support their professional growth and organizational excellence.

Developing relevant skills and knowledge enables employees to build expertise in their respective functional areas. Skill enhancement plays a vital role in improving employees' efficiency and effectiveness in performing their assigned responsibilities. Training and development programmes support employees in upgrading their capabilities, adapting to emerging technologies, processes, and systems, and meeting the evolving requirements of their roles. Furthermore, professional development initiatives contribute to career progression and long-term organizational growth.

ii) Skill Development and Capacity Building:

Skill Development Training is an initiative of the Government of India aimed at enhancing the employability of unemployed individuals and school dropouts by providing training in emerging and prospective areas of employment. Skill development plays a vital role in the overall growth of individuals by improving their knowledge, competencies, and employability. These skill development training programmes enhance opportunities for employment, support career progression, promote personal growth, and develop essential skills such as communication, enabling participants to contribute effectively to the industry.

As a part of ‘Skill India' Flagship program, ITI Limited started imparting Skill Development and Capacity Building trainings at Six training centers of ITI. The Company not only develops the skill sets of its own employees by imparting training through its HR-Employee Development Centers located at Units (i.e., Bangalore Plant, Palakkad Plant, Raebareli Plant, Mankapur Plant, Naini Plant and Srinagar Plant) but also offer training and education to young individuals through Apprenticeship training, In-plant/project training etc.

The Company is engaging and imparting training to Graduate Engineers, Diploma (Technicians) under National Apprenticeship Training Scheme (NATS) and ITI Trade Apprentices in various trades under the Apprentices' Act/ National Apprentices Promotion Scheme (NAPS). In addition, as a part of capacity building, the Company is imparting training to the students of Engineering / Management to carry out their Internship/In-plant, Project and Adoption of ITI (Specialized Industrial Trainings) and Industrial Visit etc.

The number of participants trained/imparted Capacity building/Skill Development training during FY 2025-26:

IMPLEMENTATION OF OFFICIAL LANGUAGE ACT, 1963

All Units/Marketing services and Projects ("MSP") of ITI Limited have established "Check-Points" in their departments to make effective implementation of the Official Language Policy. Monitoring is being done by the respective Official Language Implementation Committee constituted in every Unit/MSP.

The Progress of Implementation of the Official Language Policy at the Corporate office as well as the subordinate Units/MSP is reviewed periodically by the Official Language Implementaiton Committee (OLIC) constituted at corporate office.

As over 80% of the employees in the Units/MSP's at Naini, Raebareli, Mankapur, New Delhi, Mumbai, Lucknow, Hyderabad, and the Corporate Office, Bengaluru have acquired working knowledge of Hindi, these Units/ MSP's have been notified in the Gazette of India by the Government of India under Rule 10(2) and Rule 10(4) of the Official Language Rules, 1976.

ITI Limited, Corporate Office is regulary sending the Quarterly Progressive Report on the implementation of the Official Language Policy to the Ministry of Communications, Department of Telecommunications, New Delhi and the Deputy Director (Implementation), Regional Implementation Office, Bengaluru. In addition, the Half-Yearly report is regularly submitted to the Secretary, Town Official Language Implementation Committee (Undertaking), Bangalore and the Annual Assessment Report is submitted to the Ministry of communication, Department of Telecommunication, New Delhi. Following the review of the Quarterly Progress Reports, the Corporate Office has been consistently receiving letters of appreciation form the Deputy Director (Implementation), Regional Implementation Office (South), Bengalore for the past several years in recognition of its commendable performance in implementation of the official language policy.

On 18 February 2025, the Official Language Implementation related inspection of the Official Language Department, ITI Limited, Corporate Office was carried out by Shri. S. Balachandra Iyer, Deputy Director General (C & A) and Shri. Kamal Swroop, Deputy Director (OL), Ministry of Communications, Department of Telecommunications, New Delhi.

Following the inspection, ITI Limited received appreciation in the review report sent by Shri. S. Balachandra Iyer, Deputy Director General (C&A), Ministry of Communications, Department of Telecommunications, New Delhi to the Chairman and Managing Director, ITI Limited acknowledging the company's commendable implemention of the Official Language Policy.

In recognition of its significant achievements in promoting the progressive use of Hindi and ensuring the effective implementation of the Official Language Policy, ITI Limited, Corporate Office, was conferred the Second Prize in the ‘Large Public Sector Undertakings' category by the Town Official Language Implementation Committee (Undertakings), Bengaluru, on 19 August 2025 for the year 2024–25.

On 23 September 2025, Shri. Sunil Kumar Ranjan, Deputy Director General (C& A), Department of Telecommunications, Ministry of Communications, Government of India along with Shri. Kamal Swroop, Deputy Director (OL) conducted a follow-up inspection of the registered & corporate office of ITI Limited. During the inspectioin, the progressive use of Hindi in the Office and the measures taken for the effective implementation of the Official Language Policy were reviewed

Following the inspection, the Official Language Department of ITI Limited was also appreciated in the review report sent by Shri. Sunil Kumar Ranjan, Deputy Director General (C & A), Ministry of Communications, Department of Telecommunications, New Delhi, to the Chairman and Managing Director, ITI Limited, in recognition of its effective implementation of the Official Language Policy.

ITI Limited, Corporate Office, also organizes in-house training programmes with the support of internal and external faculty to enhance employees knowledge of the Official Language. In addition, employees are encouraged to appear for the Hindi Prabodh, Praveen, Pragya, and Parangat examinations. Eligible employees are also provided with financial incentives for successfully qualifying these examinations.

During the year 2025–26, Hindi Fortnight was organized across all Units/ MSP's various competitions were conducted for employees as part of the celebrations. Furthermore, the Company's website is regularly updated in a bilingual format (Hindi and English).

1. Overview of Vigilance Functioning: The Vigilance Department of ITI Limited was headed by Smt. Deepa Chawla, IRAS, who held the position of Chief Vigilance Officer (CVO) as an additional charge till 19.05.2026. Shri.

P Babji, IOFS (1998) has taken full time charge as Chief Vigilance Officer (CVO), ITI Limited with effect from 21.05.2026. The department actively focuses on all dimensions of Vigilance, i.e. Preventive Vigilance, Punitive Vigilance, Participative Vigilance and surveillance to identify systemic deficiencies and advise the management on measures to streamline operations, thereby ensuring recurrence is prevented. The various types of Complaints received through multiple sources/channels—ITI Management, postal correspondence, email, online portal, Central Vigilance Commission (CVC) and the Department of Telecommunications (DoT)—are diligently investigated and taken to their logical conclusion, in the prescribed time limit.

2. Vigilance Awareness Initiatives: In line with the directives of the CVC, ITI Limited observed, Vigilance Awareness Week from 27th October 2025 to 2nd November 2025, with the theme "Vigilance: Our Shared Responsibility" across its Corporate Office, Manufacturing Units, NS Unit, Marketing Services Provider (MSP) Offices, and other business establishments. Further, an Intensive Awareness Campaign on PIDPI (Public Interest Disclosure and Protection of Informers) and other Key Focus Areas, i.e. Disposal of pending complaints & cases, Capacity Building Programs, Asset Management and Digital Initiatives, were conducted from 18th August to 17th November 2025, through banners, posters, ITI's website as well different awareness programs organized across all units. Around 20 officials from ITI participated in the Vigilance Walkthon organized by the Vigilance Study Circle – Bangalore (VSC-B) on 25th October 2025.

3. Capacity Building and Outreach Activities: As part of capacity-building initiatives, over 100 officials attended training programs conducted by ITI as well as Prestigious Institutions on topics such as: Disciplinary Proceedings: Roles of IO/PO & DA; Vigilance Perspective in Tenders, Contracts & Public Procurement; Cyber Hygiene & Security; CBI & Vigilance; Lessons from Indic Scriptures on Integrity & Ethics; CTE Type Inspection; Sexual Harassment at Workplace, Narcotics & drug Abuse, Framing of Charge Sheets.

4. During Vigilance Awareness Week, pledge-taking ceremonies were held across Units on 27th October 2025, marking the commencement of the week. Competitions such as Essay Writing (VAW-2025 theme) and Quiz (CDA Rules, Procurement, and General Awareness) were conducted at the Corporate Office, NS Unit, Manufacturing Units, and Business Establishments, with enthusiastic participation from employees. Outreach activities were also held at various educational institutions, including: ITI Vidya Mandir & ITI Central School, Dooravaninagar, Bengaluru (Walkthon on 28-10-2025 and various competitions); Rhyan International School & Central School, Raebareli; St. Michael Convent School, Mankapur; Uccha Prathmik Vidyalaya, Chaka Block, Naini. In-house training sessions were conducted in collaboration with Bangalore City Police on Cybercrime & Security, with over 100 participants from Bangalore-based units. Training programs on Cyber Hygiene & Procurement were also held at the Manufacturing Units in Palakkad, Raebareli, Mankapur, and Naini. The Valedictory Functions were organized on 3rd November 2025 across all units, where prizes were distributed to winners of various competitions.

5. Systemic Improvements:

a) Biometric attendance has been implemented for outsourced security personnel and workers, with payments to contractors linked to the attendance records. The system is being extended to all units.

b) Online Leave/Salary Management: Attendance of on-roll employees is recorded through biometric systems, with leave/Salary regularization management through SARAL (Online Platform).

c) Revision of Procurement Manual w.r.t. Goods, Contracts & Services in line with DoE/DPE latest guidelines

d) Provision of Master Bid Document in all ITI Units/MSPs

e) Provision of Maker Checker systems in all short of Tendering

e) Induction of Project Monitoring system for timely closure of Contracts.

f) Provision of sufficient time for submission of Bids in each tendering process.

6. Vigilance Complaints Monitoring: The Vigilance Department regularly reviews and monitors complaints received through designated channels. Complaints warranting investigation are taken up in line with CVC guidelines. The status of vigilance complaints handled during the year FY 2025–26 is as follows:

IMPLEMENTATION OF RIGHT TO INFORMATION ACT, 2005 (RTI)

There exists a mechanism in ITI Limited to process all requests received by Corporate Office/Units under the Right to Information Act, 2005. All Units and Regional Offices of ITI Limited have designated Public Information Officer (PIOs) and at corporate office, we have Assistant Public Information Officer (APIO), Central Public Information Officer (CPIO) and First Appellate Authority (FAA) to address the mechanism of RTI application, other transparency related activities and first appeal, if any. Quarterly online RTI returns are uploaded on Central Information Commission (CIC) portal and also same are published on our Company website. All cases referred to CIC by applicants as second appeals have been successfully addressed and complied in totality to CIC decisions. ITI has been processing and replying the RTI applications with complete transparency and accountability in accordance with RTI Act, 2005.

During the FY Year 2025-26, 303 applications under RTI have been received. Information was provided for 317 RTI applications including 19 RTI applications carried forward from previous years. 15 applications under RTI were transferred by other PA. The Central Information Commission ("CIC") has online RTI portal for filing online RTI requests for seeking information for convenience of the applicants. Out of the 317 replies, reply/information was provided online for 131 cases. Quarterly online RTI returns were uploaded on the CIC portal and also same information were published on the Company website. All cases referred to CIC by the applicants as Second Appeals have been successfully addressed and complied in totality to CIC decisions.

AUDIT

• STATUTORY AUDIT

M/s. B K Ramadhyani & Co LLP, Chartered Accountants, Bengaluru were appointed by Comptroller and Auditor General of India (C & AG) as Statutory Auditors for 2025-26 for Bangalore Plant, NS Unit, Corporate Office, 8 Regional Offices and Consolidation of accounts. The Board of Directors has fixed remuneration of Rs.7,00,000 + GST for standalone, Rs.1,00,000 + GST for consolidation and Rs.6,00,000 + GST for 8 ROs. The fee fixed for certification for Quarterly financial results is Rs.70,000 +GST for standalone and Rs.30,000+ GST for consolidation for Q1, Q2 and Q3.

In addition, travelling and out of pocket expenses incurred are also reimbursed at actuals. The total amount paid to the statutory auditors for other services rendered by them to the Company during 2025-26.

• AUDITORS' REPORT

Auditors' Report on the annual accounts for the financial year 2025-26 and the comments of the C&AG under Sec 143 (6) (b) of the Companies Act 2013 on the Annual accounts are appended to this report. Reply to observations of Statutory Auditors and C&AG are attached as addendum to this report.

During the year 2025-26, there has not been any fraud reported by the Statutory Auditors of the Company.

• BRANCH AUDITORS

The following firms of Chartered Accountants were appointed by Comptroller and Auditor General of India as Branch Auditors for different plants of the Company for the year 2023-24.

The fee for Branch auditor for Raebareli is fixed at Rs.1,00,000+ GST, for Naini and Palakkad at Rs.80,000+ GST each, Mankapur at Rs.70,000+ GST and for Srinagar Rs.20,000+ GST .

In addition to the above, certification fee for Branch auditors for quarterly financial results are as follows:

• COST AUDITORS

M/s Murthy & Co LLP, Bengaluru was appointed as lead Cost Auditors for the year 2025-26 for the cost audit of units located at Bengaluru and Palakkad and also for consolidation of Cost Audit Reports of the Company as a whole.

M/s. Aman Malviya & Associates, Lucknow were appointed as Branch Auditors for cost audit of units located at Naini, Raebareli, Mankapur and Srinagar. The appointment of cost auditor was made by Board of Directors and the remuneration of Rs.2,80,000/- exclusive of GST as applicable was ratified by the shareholders in the Annual General Meeting held on 09.11.2025. The cost audit report for the year 2024-25 was filed with Ministry of Corporate Affairs.

The Company maintains its cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act. 2013 read with Rules made thereunder.

• SECRETARIAL AUDITOR

The Board had appointed Shri D Venkateswarlu, Company Secretary in Practice, and was subsequently approved by the shareholders in their 75th AGM to conduct the Secretarial Audit of the Company for 5 consecutive years. The Secretarial Auditor in his report have stated that during the period under review the Company has complied with the provisions of the Acts, Rules, Regulations, guidelines, standards except for those observations mentioned in Secretarial Audit Report, which is appended as Annexure-2. The reply of management to observations of Secretarial Auditor is attached as addendum to Directors report.

INTERNAL FINANCIAL CONTROL

ITI Limited's internal controls are commensurate with its size and the nature of its operations.

These have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information, complying with applicable statutes, safeguarding assets from unauthorized use, executing transactions with proper authorization and ensuring compliance with corporate policies. ITI Limited has a well-defined delegation of power with authority limits commensurate with the responsibilities that commits organizational resources. The Audit Committee also periodically interacts with the internal and statutory auditors including Branch auditors to assess the adequacy of internal control systems.

It has continued its efforts to align all its processes and controls with best practices. ITI Limited management assessed the effectiveness of the company's internal control over financial reporting under Section 143 of the Companies Act 2013 as of March 31, 2026. except of the observations referred in Annexure.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

ITI is committed to the Communities around its business and far beyond through its CSR initiatives. During the financial year 2025-26, the Company was not required to spend any amount towards CSR activities, as the average net profits of the Company for the preceding three financial years was negative. However, the Company had spent 2.00 lakhs towards CSR activities for noble cause as the Armed Forces Flag Day Fund (AFFDF) was instituted for the welfare of the veterans, widows and their dependents. Annual Report on CSR activities including the composition of CSR Committee is enclosed as Annexure-III to the report. The details of the CSR policy, projects and programmes are available on the website of the Company at https://www.itiltd.in/csr.

BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

ITI Limited being a Government Company, policy on directors' appointment and remuneration is not applicable and also evaluation of their performance is exempted vide notification dated 05.06.2015 issued by the Ministry of Corporate Affairs As on 9th October 2026, there are Six Directors on the Board of the Company, of which three are Whole Time Directors (including Chairman and Managing Director), two are Government Nominee Directors and one Non-Official Director (Independent Director).

INDEPENDENT DIRECTORS

The Government of India vide order dated 04th July 2025 appointed following Independent Director for a period of three year w.e.f. 14th July 2025:

• Shri Gopinath Sahu

The Company has received the Certificate of Independence from the Independent Directors confirming that they meet the criteria prescribed for Independent Directors under the provisions of the Companies Act, 2013, and SEBI (LODR). The Independent Directors have confirmed that they are registered with the Database maintained by the Indian Institute of Corporate Affairs (IICA) under the Ministry of Corporate Affairs In terms of the provisions of Schedule IV of the Companies Act, 2013, the terms and conditions of appointment of Independent Directors are posted on the website of the Company. Further, the Independent Directors are not liable to retire by rotation under the provisions of Section 152 of the Companies Act, 2013.

GOVERNMENT DIRECTOR

The following are changes in Government Directors:

1. Shri Arun Agarwal, DDG (Sat.), DoT from the Department of Telecommunications ceased to be Government Nominee Director of the Company w.e.f. the afternoon of 24.04.2026 as he had been relieved from the Department of Telecommunication.

2. Lt. Gen. Kanwar Vinod kumar, ceased to be Government Nominee Director of the company w.e.f. 31.12.2025 as he attained his age of superannuation.

3. Lt. Gen. Vivek Dogra, SM, Signal Officer-in-Chief, Ministry of Defence appointed as Government Nominee Director of the Company w.e.f. 27.07.2026 for a period of three years or till the date of his superannuation or till further orders, whichever is earlier.

4. Shri Sanjiwan Sinha, Project Director, Programme Monitoring Unit, Office of Administrator, Digital Bharat Nidhi, Department of Telecommunications, appointed as Government Nominee Director of the Company w.e.f. 10.08.2026 until further orders.

FUNCTIONAL DIRECTORS

The following are the changes in Functional Directors:

1. Shri Rajeev Srivastava, ceased to be Director Finance of the company on 14.10.2025 due to the completion of the tenure.

2. Shri C. V. Ramana Babu, appointed as Director Finance (Additional Charge) of the company w.e.f. 15.10.2025.

3. Smt. S. Jeyanthi, ceased to be Director HR (Additional Charge) of the company w.e.f. 27.02.2026.

4. Shri Rajesh Rai, appointed as Director HR (Additional Charge) of the company w.e.f. 28.02.2026.

5. Smt. S. Jeyanthi, ceased to be Director Production of the company w.e.f. 30.06.2026.

6. Shri Rajesh Rai, appointed as Director Production (Additional Charge) of the company w.e.f. 01.07.2026 & up to 30.07.2026.

7. Shri Ajai Kumar Srivastava, appointed as Director Production of the company w.e.f. 31.07.2026.

The Board placed on record its whole hearted appreciation for commendable contribution and guidance rendered by the Directors whose term of office ended during the year. Shri C. V. Ramana Babu, (DIN- 10478320) retires by rotation at the forthcoming Annual General Meeting and being eligible offers himself for re-appointment.

KEY MANAGERIAL PERSONNEL

Following are the changes during the Financial Year 2025-2026

1. Shri Rajeev Srivastava, ceased to be Chief Financial Officer of the company w.e.f 12.02.2026.

2. Shri Prasad Barre, appointed as Chief Financial Officer of the company w.e.f 13.02.2026

3. Shri Prasad Barre, ceased to be Chief Financial Officer of the company w.e.f 30.04.2026.

4. Shri C. V. Ramana Babu, appointed as Chief Financial Officer of the company w.e.f 28.05.2026

DETAILS OF BOARD MEETINGS

During the year under review, seven Meetings of the Board of Directors were held. The details of meetings attended by each director are provided in the Corporate Governance Report.

COMPOSITION OF AUDIT COMMITTEE

As on 31st March 2026, the Audit Committee comprised 03 Members, two members are functional Directors and one Independent Director. During the year, 05 Audit Committee Meetings were held, details of which are provided in the Corporate Governance Report. There have been no instances during the year when recommendations of the Audit Committee were not accepted by the Board.

PERFORMANCE EVALUATION OF BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTORS AND POLICY FOR SELECTION AND APPOINTMENT OF DIRECTORS AND THEIR REMUNERATION

ITI Limited being Government Company is exempted from the provisions of evaluation of performance of independent Directors. Further, the Govt. of India, the appointing authority has its own set of processes in determining the criteria and also for evaluation of the performance of Independent Directors at the time of appointment / re-appointment.

With regard to formulation of criteria for appointment of Directors on the Board by the Nomination and Remuneration Committee, being a Government Company, the criteria for appointment of Directors on the Board is done by Government of India.

RISK MANAGEMENT:

The Enterprise Risk Management (ERM) framework implemented as part of Governance, Risk Management and Compliance (GRC) in the Company is based on global best practices in Risk Management as covered by ISO 31000:2018 and IEC 31010:2019 and has enabled the Company to fully integrate the Risk Management into its normal business operations.

The Company's ERM policy framework is a structured process that involves:

• Identifying all external and internal risk-factors.

• Assessing the impact of these risks on the organization's business and financial targets.

• Prioritizing the identified risk-factors.

• Exploring various alternatives for treating these risks.

• Implementing controls and monitoring mechanisms for managing the risks.

ERM is an ongoing and dynamic process that requires iteration and adaptation to changing circumstances. The Company's ERM Manual is a well-structured framework having four layers of governance team's i.e.

• Level-1: URMC (Unit Level Risk Management Committee)

• Level-2: ERMSC (ERM Steering Committee)

• Level-3: ERMGC (Enterprise Risk Management Governing Committee) or RMC (Risk Management Committee)

• Level-4: Risk Management Committee at Board Level.

These Committees are responsible to monitor the policy implementation across all the Units by following approved ERM Process, ERM Governance Structure, Roles and Responsibilities of the relevant stakeholders, formation of Risk Registers, provide their continuous contribution to operation of ERM in all the Units of Company.

The establishment and maintenance of the ERM framework is facilitating effective decision making process at different levels of the Company. The Risk Register maintained by the Company includes standalone risks identified for the Corporate as well as any significant risks from the Units that merit attention of the Corporate, which will be regularly be presented and reviewed by the Task Force Committee.

All the Units submit and update ERM Risk Register to the ERM Steering Committee (ERMSC). As part of the policy operation ERMSC have conducted monthly risk management review meetings on 29th April 2025, 20th May 2025, 24th June 2025, 22nd July 2025, 26th August 2025, 30th September 2025, 28th October 2025, 25th November 2025, 30th December 2025, 29th January 2026, 24th February 2026 and 26th March 2026 with all the Units (URMC). Also the Risk Management Committee meeting was held on 18th March 2026 to approve Cyber security policy of the company.

As framed in the ERM Manual, Risk Management activities will be carried out on an ongoing basis as part of the routine business operations.

WHISTLE BLOWER POLICY/ VIGIL MECHANISM

SEBI (LODR) Regulations 2015 require formulating a "Whistle Blower Policy for providing necessary safeguards for protection of employees from victimization. Further SEBI (Prohibition of Insider Trading) regulations, 2015 also requires the Company to have Whistle Blower Policy and make the employees aware of such policy to enable them to report instances of leak of Unpublished Price Sensitive information.

Objectives of Vigil Mechanism / Whistle Blower Policy:

1) The Vigil Mechanism / Whistle Blower Policy aims to provide a channel to report genuine concerns about unethical behavior, actual or suspected fraud or violation of the Codes of Conduct or instances of leak of Unpublished price sensitive information or policies or regulatory requirements.

2) To provide adequate safeguards against victimization of Directors and employees to avail the mechanism.

3) To initiate inquiry in case of leak of UPSI or suspected leak of UPSI and inform the same to the competent authority promptly.

Covers disclosure of any unethical and improper or malpractices and events which have taken place / suspected to take place. The Whistle Blower role is to report Company with reliable information. A Whistle Blower policy is not required or expected to act as an investigator or finder of the facts, nor would the Whistle Blower have a right to participate in any investigative activities unless requested by the Investigator.

PARTICULARS OF EMPLOYEES

Government Companies are exempted from complying with provisions of Section 197 of the Companies Act, 2013. Therefore, such particulars have not been included as part of Directors' Report.

BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT

A separate section on Business Responsibility and Sustainability Report as required under Listing Regulations, has been included in the Annual Report as Annexure- 4 and the same forms part of the Directors' Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report prepared as per Listing Regulations and DPE Guidelines on Corporate Governance is enclosed as Annexure 5 of this report.

CORPORATE GOVERNANCE REPORT

The report on Corporate Governance on the compliance of Corporate Governance conditions stipulated in Listing Regulations and the DPE guidelines forms part of Directors report. The Certificate on the Compliance of above Corporate Governance Conditions from Practicing Company Secretary also forms part of Directors' report.

EXTRACT OF ANNUAL RETURN

In accordance with the Companies Act, 2013, the annual return is available on the Company's website at https://www.itiltd.in/annual_general_meeting

RELATED PARTY TRANSACTIONS

All related party transactions entered during the year 2025-26 were in ordinary course of the business and are on an arm's length basis. The Company has formulated a Policy on Related Party Transactions which is available on the Company's website at https://www.itiltd.in/codes_and_ policies.

The disclosure of related party transactions as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC-2 is not applicable to the Company. Members may refer to Note No. 06 to the financial statement which sets out related party disclosures pursuant to IndAS24.

MATERIAL CHANGES AFFECTING FINANCIAL POSITION OCCURING BETWEEN THE END DATE OF FINANCIAL YEAR AND DATE OF THE REPORT

The are no material changes affecting the financial position of the Company subsequent to the close of the FY 2025-26 till the date of this report.

REGULATORY OR COURTS ORDER: NIL DIRECTORS' RESPONSIBILITY STATEMENT

The Board of Directors confirm that

(a) In the preparation of the annual accounts for the financial year ended 31st March 2026, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) Such accounting policies have been selected and applied consistently and judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at 31st March 2026 and of the profit of the company at that date;

(c) Proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) The annual financial statements have been prepared on a going concern basis;

(e) Proper internal financial controls were in place and that the financial controls were adequate and were operating effectively; and (f) That systems to ensure compliance with the provisions of all applicable laws were in place and that such systems were adequate and operating effectively.

PARTICULARS OF LOAN, GUARANTEES OR INVESTMENTS

There are no transactions of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013.

STATUS ON COMPLIANCE WITH THE INSOLVENCY AND BANKRUPTCY CODE, 2016

M/s Recap Ventures Pvt Ltd had filed an application U/Sec 9 of IBC in NCLT, Bengaluru vide Case No. C.P. (IB) No. /98/BB/2023 to initiate Corporate Insolvency Resolution Process against ITI Limited. The said NCLT court by its order dated 16.07.2025 has dismissed the aforesaid case filed against ITI Limited.

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

There are no instances of one-time settlement during the financial year 2025-26.

ENTERTAINMENT EXPENDITURE AND FOREIGN TRAVEL

The expenditure on entertainment for financial year 2025-26 was NIL (PY was also NIL). Expenditure on official travel abroad by the officials of the Company was NIL during the year.

CITIZEN'S CHARTER

Citizens are implied as any Stakeholder of the ITI Limited (ITI) extending from Employees, Customers, Vendors, Investors, Collaborators / JV Partners, Competitors, Media and Govt to Society / Community at large. The Citizens charter does not itself create new legal rights, but make the citizens aware of their existing rights. ITI Citizen's Charter outlines its scope and contains general information about the Company, Citizen's obligations towards Company and the Management's commitment towards the citizens. It also contains Grievance Redressal mechanism and Citizen's Service Delivery. The Charter exhibits the organization's ability to provide quality products and efficient services to the citizens while meeting the legal and regulatory requirements. Continuous improvement of products and services is its aim for the satisfaction of the stakeholders.

Objectives of Citizen's Charter are as follows:

1. To demonstrate Transparency and openness of its business operations.

2. To improve the quality of public services by ensuring Citizen centric focus across all its processes.

3. To let people, know the mandate of the Organization, how one can get in touch with its officials, what to expect by way of services and how to seek a remedy in case of specific complaints / problems.

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

Particulars with respect to Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo, required to be disclosed under the Section 134 of the Companies Act, 2013 read with Rule 8 of Companies (Accounts) Rules, 2014 is appended as Annexure 6.

PROCUREMENT POLICY FOR MICRO AND SMALL ENTERPRISES ORDER 2012:

The Procurement Policy for Micro and Small Enterprises Order 2012 read with amendments made there under is being followed across all the Units of the Company. In line with this, the company made significant strides in supporting MSE vendors. During the financial year 2024-25, the company procured worth Rs. 179.98 Crore from MSE vendors, which constituted 25 % of its total procurement value.

Moving into the financial year 2025-26, the company continued its commitment to MSE procurement, achieving 31.34 % of its total annual procurement through these vendors, resulting in a total procurement value of Rs. 1395.39 Crore. This reflects a substantial increase of approximately 7.75 times and 675.30% in procurement value from MSE compared to the previous year. The overall increase in procurement value underscores the company's ongoing dedication to enhancing its engagement with MSE vendors, contributing to their growth and development.