Dear Shareholders,

Your Directors have pleasure in presenting the 36 th Annual Report and Audited Accounts of the Company for the year ended 31 st March, 2026.

FINANCIAL RESULTS

The highlights of the performance of your Company during the financial year (FY) 2025-26 are given hereunder;

(` in lakhs)

FINANCIAL HIGHLIGHTS

The financial summary / highlights for the last five years is furnished vide Annexure-A to this Report

OPERATIONS

The Operating Revenue of the Company has increased by 11.33% from Rs. 17,644.92 Lakhs in the previous year to Rs. 19,643.75 Lakhs in the current year. The Export revenue during the year was Rs. 9,283.18 lakhs compared to Rs.8,681.48 Lakhs in the previous year, registering an increase by 6.93%. During the year, the domestic market also increased by 13.02% from

Rs. 8,560.81 lakhs in the previous year to Rs. 9,675.20 Lakhs in the current year.

During the year, Profit Before Tax (PBT) has decreased from Rs. 3,104.46 Lakhs in the previous year to Rs 2,517.84

Lakhs in the current year mainly because of increase in Depreciation due to commissioning of Third Moulding line project and Interest paid on Term Loan availed for the Project and Profit After Tax (PAT) is Rs. 1,847.45 Lakhs compared to previous year's PAT of Rs. 2,311.70 Lakhs.

During the Financial Year 2025 26, 73% of the Company's total energy consumption was derived from green energy sources, generated through its in-house Windmills and Solar power plant (Captive user basis).

The income from Wind and Solar Energy is Rs. 1,004.01 Lakhs during the year as against Rs. 722.76 Lakhs, in the previous year registering an increase by 38.91%

There has been no change in the nature of business of the Company.

DIVIDEND

Your Directors are pleased to recommend a dividend of Rs. 5/- per share, i.e. at the rate of 50% for the FY 2025-26 on the paid-up equity share capital of the Company. The dividend, if approved, will absorb an amount of Rs. 211.61 Lakhs and will be paid to shareholders on approval, subject to deduction of tax at source. The payment of dividend is subject to approval of the shareholders at the 36 th Annual General Meeting ('AGM') of the Company. In view of the provisions made under the Income Tax Act, 1961/2025, dividend paid or distributed by the Company shall be taxable in the hands of the shareholders. Your Company shall, accordingly, make the payment of the dividend after deduction of tax at source at appropriate rates applicable to resident and non-resident shareholders as the case may be.

NEW PROJECTS IMPLEMENTED DURING THE YEAR

The Third Molding Line project (Sinto Line) was commissioned on 27 th June, 2025. With the commissioning of this line, the total installed moulding capacity now stands at 2000 MT per month. The current melting capacity remains at 1500 MT per month. The additional melting capacity will be aligned progressively as production scales up. The total project cost amounts to Rs. 51.87 Crores, out of which the Company has availed Term Loan of Rs.15 Crores and the balance expenditure has been met out of Internal accruals.

During the year, the Company installed new machines for capacity enhancements and to strengthen its manufacturing capabilities. A Cold Box Core Shooter (horizontal-parted) with a 60-litre capacity was installed to support the production of larger castings in the Sinto Moulding Line. The Company also commissioned an Eirich sand plant, an Inductotherm auto pouring system, and a Wesman sand cooler system, all aimed at improving process automation, consistency, and productivity. Further, a new warehouse facility of approximately 6,480 sq. ft. was established at the Factory (North Campus) to enhance material handling and streamline dispatch planning.

FUTURE PLANS

The current melting capacity remains at 1500 MT per month. The additional melting capacity will be accordingly adjusted as and when the production picks up. This expansion will also enable us to secure new business in medium sized components range on a competitive basis.

The Company plans to increase its machining capacity in view of the increased demand from Customers for machined components. The Company is under process of commissioning a Green Sand Reclamation system imported from UK. With this, the Company is one of the companies in India which has 3 types of Sand reclaim, leading to minimal consumption of Sand, thereby conserving natural resources.

The Board has also approved for making investments for procuring an additional 1.1 MW Solar power which will be operational from June, 2026. As a result of which, the Company will now have 5.1 MW Solar Capacity. The Windmill capacity is 3.25 MW. Together, the total green energy of the Company stands at 8.35 MW.

QUALITY RECOGNITIONS

During the year, the Company made notable progress in sustaining and advancing its management system certifications and ensuring adherence to regulatory compliance requirements. The Company successfully completed re-certification audits for the following internationally recognized standards - Pressure Equipment Directive (PED) and AD 2000 W0 requirements, Pressure Equipment Safety Regulation (PESR), Transportation & Power Generation

(TPG) requirements, Marine Certification in accordance with DNV Rules for the Classification of Ships.

Based on successful surveillance audits, the Company retained several critical certifications, demonstrating robust compliance with global industry standards - IATF 16949 - Quality Management System for the automotive sector, ISO 9001 - Quality Management System, ISO 14001 - Environmental Management System and Renewal of Indian Boiler Regulation (IBR) license.

The Company certification portfolio with the following approvals - BIS IS 210 License for Grey Iron Castings. Marine Certifications as an approved Manufacturer of Iron Castings meeting the standards of Lloyd's Register (LR) and

Bureau Veritas (BV), the Company committed to enhanced sustainability tracking through - Annual computation of Greenhouse Gas (GHG) emissions and Product Carbon Footprints (PCFs). In addition to this, the Company also complies with Supplier Assessment Audits conducted by its customers.

AWARDS

During the year, the Company has received Supplier Award for excellence in delivering high- quality products and services from Accelleron.

Sri. N. Krishnasamaraj, Managing Director has been honoured with Lifetime Achievement Award by Indian Foundrymen (IIF), Coimbatore Chapter for his remarkable contributions to Foundry industry.

FINANCE

The Company incurred a finance cost of Rs. 98.52 Lakhs during the year.

TRANSFER TO RESERVES

The Company has not transferred any amount to the General Reserve during the year under review.

SHARE CAPITAL

During the year under review, the Company has not altered/modified its authorised share capital and the Company has not made any fresh issue of shares.

As on 31 st March 2026, the authorized capital of the is Rs. 5,00,00,000/- divided into 50,00,000 equity shares of Rs. 10/- each. The issued, subscribed and paid-up equity capital of the Company as on 31 st March, 2026 is Rs. 4,23,21,040/- divided into 42,32,104 equity shares of Rs. 10/- each fully paid up.

TRANSFER OF UNCLAIMED DIVIDEND TO THE INVESTOR EDUCATION AND PROTECTION FUND (IEPF):

In terms of Section 124 and 125 of the Companies Act, 2013, the Unclaimed Dividend relating to the Financial Year 2018-19 and Interim Dividend relating to Financial Year 2019-20, is due for transfer during September, 2026 and March, 2027 respectively to the Investor Education and Protection Fund (IEPF) established by the Central Government.

During the year under review, as per the requirements of Section 124(6) of the Companies Act, 2013 and Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, (IEPF Rules), 5,899 Equity Shares of Rs. 10/- each on which dividend had remained unclaimed for a period of 7 years has been transferred to the credit of the demat Account identified by the IEPF Authority. As on 31 st March 2026, 1,12,879 Equity Shares of the Company were in the credit of the Demat Account of the IEPF Authority.

WEB LINK OF ANNUAL RETURN

The Annual Return of the Company for the financial year 2025-26 as required under Section 92(3) of the Companies

Act, 2013 is available on the website of the Company and can be accessed on the Company's website at the link https://www.magnacast.com/uploads/AnnualReturn_FY26.pdf.

BOARD AND ITS COMMITTEE MEETINGS CONDUCTED DURING THE PERIOD UNDER REVIEW

During the year under review, Five (5) Meetings of the Board of Directors were held. The details of the composition of the Board and its Committees namely Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, Corporate Social Responsibility (CSR) Committee and Meetings held and attendance of the Directors at such Board / Committee Meetings are provided in the Corporate Governance Report under relevant heads which forms a part of this Report.

STATEMENT ON COMPLIANCE WITH SECRETARIAL STANDARDS

The Company has devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards and that such systems are adequate and operating effectively. The Company has duly complied with Secretarial Standards issued by the Institute of Company Secretaries of India on meeting of the Board of Directors (SS-1) and General Meetings (SS-2).

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to requirement of Section 134(3)(c) and 134(5) of the Companies Act 2013, with respect to Directors'

Responsibility Statement, it is hereby confirmed that a) In the preparation of the annual accounts, the applicable accounting standards have been followed and there are no material departure from those standards; b) The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the

Company at the end of the financial year and of the profit of the Company for that period; c) The Directors have taken proper and sufficient care for maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d) The Directors have prepared the annual accounts on a going concern basis; e) The Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and f) The Directors had devised proper system to ensure compliance with the provisions of all the applicable laws and such systems were adequate and operating effectively;

DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SECTION 143(12) OF THE COMPANIES ACT, 2013 OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT

There were no instances of frauds identified or reported by the Statutory Auditors during the course of their audit.

DECLARATION OF INDEPENDENT DIRECTORS

The Independent Directors have submitted their disclosures to the Board that they fulfill all the requirements as stipulated in Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ['SEBI (LODR) / Listing Regulations'] so as to qualify themselves as Independent Directors under the provisions of the Companies Act, 2013 and the relevant rules of the Listing Regulations. Further, they have also declared that they are not aware of any circumstance or situation, which exists or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgment and without any external influence.

Based on the confirmation / disclosures received from the Directors and on evaluation of the relationships disclosed, the following Non-Executive Directors were Independent during the year 2025-26: Sri. G D Rajkumar, Smt. Vijayalakshmi Narendra, Sri. V Arjunprakash, Sri. Sudarsan Varadaraj and Sri. Rangaswamy Narayanan.

Pursuant to Rule 6(3) of the Companies (Appointment and Qualification of Directors) Rules, 2014, the Independent

Directors have submitted necessary declaration of compliance with Rule 6(1) and Rule 6(2) of the said Rules. They have confirmed that their names have been included in the data bank of the Indian Institute of Corporate Affairs.

STATEMENT REGARDING OPINION OF THE BOARD WITH REGARD TO INTEGRITY, EXPERTISE AND EXPERIENCE (INCLUDING THE PROFICIENCY) OF THE INDEPENDENT DIRECTORS APPOINTED DURING THE YEAR

The Board of Directors have evaluated the Independent Directors during the year 2025- 26 and opined that the integrity, expertise and experience (including proficiency) of the Independent Directors is satisfactory.

COMPANY'S POLICY RELATING TO DIRECTOR'S APPOINTMENT, PAYMENT OF REMUNERATION AND OTHER MATTERS PROVIDED UNDER SECTION 178(3) OF THE COMPANIES ACT, 2013

The Board has, on the recommendation of the Nomination and Remuneration Committee, framed a policy on nomination, appointment and remuneration of Directors, Key Managerial Personnel, Senior Management Personnel and employees of the Company including criteria for determining qualifications, positive attributes, independence of a Director and other matters pursuant to the provisions of Section 178 of the Companies Act, 2013 and in terms of Regulation 19(4) of the Listing Regulations. The detailed Remuneration Policy can be accessed on the Company's website at the link https://www.magnacast.com/uploads/NRC_27032025.pdf

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013

The Company has no loans, guarantees or investments made by the Company under Section 186 of the Companies Act, 2013 during the year under review. However, the investments made during the earlier years are provided under the notes to Balance Sheet appearing elsewhere in this Annual Report.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

All the transactions of the Company entered into with its related parties as defined under the Companies Act, 2013 and Regulation 23 of the Listing Regulations (as amended) during the financial year 2025-26 were in the ordinary course of business and on an arm's length basis.

The particulars of material related party transactions which are at arms' length basis is provided in Form AOC-2 and the same is annexed to the Boards Report as Annexure -B .

The Policy on Related Party Transactions is made available at the Company's website and the same can be accessed through the link at https://www.magnacast.com/uploads/5.RPTPOLICY14112025.pdf

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY

There have been no material changes and commitments, if any, affecting the financial position of the Company which have occurred between the end of the financial year of the Company to which the financial year ended 31 st March, 2026 relate and the date of the report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND

OUTGO

The information pertaining to conservation of energy, technology absorption, Foreign Exchange Earnings and outgo as required under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is furnished as Annexure C and is attached to this report.

STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE COMPANY

The Company continues to focus attention on the risk areas identified and in case of any adverse situation, suitable mitigation steps are taken. The Company has adopted a comprehensive and integrated risk appraisal, mitigation and management process. The risk mitigation measures and procedures of the Company are placed before the Audit Committee/ Board periodically for review and improvement. The Company does not have any Risk Management Policy as the elements of risk threatening the Company's existence are very minimal.

DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

The Board had formed a Corporate Social Responsibility (CSR) Committee comprising of Sri. R. Narayanan, Sri. N Krishnasamaraj and Sri. G. D. Rajkumar. The CSR Committee of the Company deals with allocation of funds, activities, identification of projects, approval, implementation, monitoring and reporting mechanisms under the policy.

A report on CSR Activities as per Rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014 including a brief of the CSR Policy and the initiatives undertaken by the Company on CSR activities is annexed to this Board's Report as Annexure - D . The policy relating to CSR has been displayed on the Company's website and can be accessed at https://www.magnacast.com/uploads/invsubpdf/csr-policy-tzos608aa07b65155.pdf .

ANNUAL EVALUATION OF THE BOARD ON ITS OWN PERFORMANCE AND OF THE INDIVIDUAL DIRECTORS

Pursuant to the provisions of the Companies Act, 2013, the Board of Directors evaluated the annual performance of the members of the Board and its Committees vis-a-vis the nature of business of the Company, its performance during the year and the contribution of each of the Directors based on the criteria laid down by the Nomination and Remuneration Committee.

The Independent Directors have also convened a separate meeting for this purpose on 10 th February, 2026 and inter-alia, reviewed the performance of the Non- Independent Directors and the Board as a whole and assessed the quality, quantity and timeliness of flow of information between the Company and the Board.

DIRECTORS & KEY MANAGERIAL PERSONNEL

Pursuant to the recommendation of the Nomination and Remuneration Committee and approval of the Board of Directors, Sri Ajeya Vel Narayanaswamy (DIN: 07553660) was appointed as a Whole-time Director, designated as

Executive Director Marketing, for a term of five years with effect from 4 th September 2025 by the Shareholders at the 35 th Annual General Meeting of the Company. Further, in accordance with Section 196 read with clause (e) of Part (I) of Schedule V of the Companies Act, 2013, the approval of the Central Government has also been obtained for the said appointment on 23 rd December, 2025.

The Board of Directors, upon the recommendation and approval of the Nomination and Remuneration Committee and Audit Committee of the company at their respective meetings held on 28 th May 2026, have recommended the re-appointments of Sri. N. Krishnasamaraj (DIN: 00048547) as Managing Director and Sri. M. Malmarugan (DIN: 09610329), as Whole Time-Director, designated as Executive Director – Operations of the Company to hold for a period of five (5) years with effect from 17 th January, 2027 and 30 th May 2027 respectively on the terms and conditions as set out in the Notice convening the Annual General Meeting. Necessary resolution in this regard has been included in the Agenda of the Notice for the approval of the Members.

Director liable to retirement by rotation:

Sri. M. Malmarugan (DIN: 09610329) Director of the Company, is liable to retire by rotation at the ensuing Annual General Meeting and, being eligible, have offered himself for re-appointment.

Apart from the above, there were no other changes in the Directors and Key Managerial Personnel of the Company.

Key Managerial Personnel:

The Key Managerial Personnel of the Company as required pursuant to Section 2(51) and 203 of the Companies Act, 2013 as on 31 st March, 2026 are:

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

The Company does not have any Subsidiaries, Joint ventures or Associate Companies.

DEPOSITS

Since the Company has not accepted any deposit covered under Chapter V of the Companies Act, 2013, there are no deposits remaining unclaimed or unpaid as on 31 st March 2026 and accordingly, the question of default in repayment of deposits or payment of interest thereon during the year does not arise.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATION IN FUTURE

There were no significant and material orders passed by the Regulators or Courts or Tribunals impacting the going concern status and Company's operation in future.

ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS

The Company has an adequate Internal Control System, commensurate with the size, scale and complexity of its operations. The Audit Committee of the Board periodically reviews the Internal Financial Control Systems and their adequacy and recommends corrective action as and when necessary to ensure that an effective internal control mechanism is in place.

The Directors that the Internal Financial Control (IFC) systems are adequate with respect to the operations of the Company. The report of Auditors pursuant to Section 143(3)(i) of the Companies Act, 2013 certifying the adequacy of Internal Financial Control is annexed with the Auditors Report.

AUDITORS

STATUTORY AUDITORS

M/s. VKS Aiyer & Co., (Firm Registration No. 000066S), Chartered Accountants, Coimbatore, were appointed as the Statutory Auditors of the Company to hold office from the conclusion of the 31 st Annual General Meeting held on 23 rd September 2021 for a period of 5 consecutive years till the conclusion of the 36 th Annual General Meeting to be held in the year 2026.

The Company now proposes to re-appoint M/s. VKS Aiyer & Co. as the Statutory Auditors for a second term of five consecutive years, from the conclusion of the 36 th Annual General Meeting until the conclusion of the 41 st Annual General Meeting to be held in the year 2031.

The Company has received a written certificate from M/s. VKS Aiyer & Co., Chartered Accountants, Coimbatore, confirming that their re-appointment, if made, shall be in accordance with the conditions specified under Section 141 of the Companies Act, 2013 and that they are not disqualified from being appointed as Statutory Auditors of the Company.

SECRETARIAL AUDITORS

Pursuant to the Regulation 24A of the Listing Regulations read with Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the members at the 35 th Annual General Meeting held on 4 th September, 2025 appointed M/s. MDS & Associates LLP, Company Secretaries,

Coimbatore (LLPIN: ABZ 8060) as Secretarial Auditors of the Company for a first term of 5 (five) consecutive financial years effective from the Financial Year 2025-26. The report of the Secretarial Auditors for the financial year 2025-26 is annexed as Annexure- E to this Report.

COST AUDITORS

The Board of Directors, on the recommendation of the Audit Committee, has appointed M/s. SBK & Associates,

Cost Accountants, Chennai as the Cost Auditors of the Company for the financial year 2025-26. Pursuant to Section

148 of the Companies Act, 2013 read with Rule 14 of the Companies (Accounts) Rules, 2014, the remuneration payable for the year 2026-27 to the Cost Auditors of the Company is subject to ratification by the Shareholders at the ensuing Annual General Meeting. The Board recommends their remuneration for members' ratification. The Cost Audit Report for the financial year 2025-26 will be filed with the Central Government within the period stipulated under the Companies Act, 2013.

DISCLOSURE ON MAINTENANCE OF COST RECORDS

The maintenance of cost records as specified by the Central Government under Section 148(1) of the Companies

Act, 2013 read with Companies (Cost Records and Audit) Rules, 2014, is applicable to the Company and accordingly the cost accounts and records are made and maintained as mandated by the Central Government.

COMMENTS ON AUDITORS' REPORT

There are no qualifications, reservations or adverse remarks or disclaimers made by M/s. VKS Aiyer & Co, Statutory

Auditors and M/s. MDS & Associates LLP, Secretarial Auditors in their respective audit reports.

DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 DURING THE YEAR

No applications have been made and no proceedings are pending against the Company under the Insolvency and Bankruptcy Code, 2016.

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

The disclosure under this clause is not applicable as the Company has not undertaken any one-time settlement with the banks or financial institutions.

INDUSTRIAL RELATIONS

The relationship between the management and the employees at all levels during the year under review has been cordial and productive.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORK PLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has complied with the provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. An Internal Complaints Committee has been set up to define the policy and redress complaints received. All employees (permanent, contractual, temporary, trainees) are covered under this policy.

The following is a summary of sexual harassment complaints received and disposed of during the year 2025-26: i. Number of complaints received in the year- Nil ii. Number of complaints disposed off during the year – NA iii. Number of cases pending for more than ninety days– Nil

A STATEMENT BY THE COMPANY WITH RESPECT TO THE COMPLIANCE TO THE PROVISIONS RELATING TO THE MATERNITY BENEFIT ACT, 1961

The Company has duly complied with all the provisions of the Maternity Benefit Act 1961 and has extended all statutory benefits to eligible women employees during the year.

PARTICULARS OF EMPLOYEES AND REMUNERATION

Statement pursuant to Section 134 of the Companies Act, 2013 and Section 197(12) of the Companies Act, 2013 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is annexed as Annexure - F to this report.

During the year, the Company had no employee who was employed throughout the Financial Year or part thereof and was in receipt of remuneration, which in the aggregate, or as the case may be, at a rate which, in the aggregate, is in excess of that drawn by the Managing Director or Whole-Time Director or Manager and holds by himself or along with his spouse and dependent children, not less than 2% of the equity shares of the Company.

MANAGEMENT DISCUSSION AND ANALYSIS AND CORPORATE GOVERNANCE

Pursuant to Regulation 34(3) of the Listing Regulations, a report on Corporate Governance along with a Certificate confirming from the Company Secretary Practice the compliance of the provisions of Corporate Governance and the Management Discussion and Analysis Report forms an integral part of this Annual Report and are given in Annexure - G respectively.

AUDIT COMMITTEE

The Audit Committee of the Board of Directors has been duly constituted in accordance with the provisions of Section 177 of the Companies Act, 2013 and Regulation 18 of Listing Regulations. Details relating to the composition, meetings and functions of the Committee are set out in the Corporate Governance Report forming part of this Annual Report. The Board has accepted the Audit Committee recommendations during the year whenever required and hence no disclosure is required under Section 177(8) of the Companies Act, 2013 with respect to rejection of any recommendations of Audit Committee by the Board.

CEO/CFO CERTIFICATION

As required under Regulation 33(2)(a) of the Listing Regulations, the Managing Director and the Chief Financial

Officer of the Company have furnished necessary certificate to the Board on the Financial Statements presented, which is annexed as Annexure - H to this report.

VIGIL MECHANISM AND WHISTLE BLOWER POLICY

The Company has provided for adequate safeguards to deal with instances of fraud and mismanagement and to report concerns about unethical behavior or any violation of the Company's Code of Conduct. During the year under review, there were no complaints received under this mechanism. The policy can be accessed on the Company's website at https://www.magnacast.com/uploads/WBP_08112024.pdf.

LISTING OF SHARES

Equity shares of the Company continue to be listed on BSE Limited.

ACKNOWLEDGEMENT

The Board takes this opportunity to express its profound gratitude to all those who have contributed to the Company's progress - the shareholders who have placed their trust in the Board's stewardship, the customers and suppliers who have remained valued partners, M/s. Union Bank of India and M/s. Axis Bank for their consistent financial support, and the Government Agencies for their cooperation and assistance.

Above all, the Board acknowledges the tireless efforts of the Company's employees, who have demonstrated remarkable commitment and resilience in the face of a challenging business environment. Their contribution remains the driving force behind every milestone achieved during the year.

As we look to the future with optimism, the Board reaffirms its unwavering commitment to transparency, excellence, and sustainable growth. We humbly seek the blessings of the Almighty to light our way and strengthen our resolve as we strive toward greater achievement.