The Board of Directors present the 35^th Annual Report of Cords Cable Industries Limited (“the Company”) together
with the Audited Financial Statements of the Company for the financial year ended March 31,2026 (“FY 2025-26”)
and the Report of the Auditors thereon.

The Financial Summary and Highlights

The financial statements of the Company for the financial year ended March 31,2026 have been prepared in accordance
with the Indian Accounting Standards (“Ind AS”) prescribed under Section 133 of the Companies Act, 2013 (“the
Act”), read with the Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time, and other
accounting principles generally accepted in India, and the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”).

The summarized financial performance of the Company for the financial year ended March 31, 2026, is presented
below:

(Amount in ' Lacs)

The State of the Company's Affairs and Business
Performance

Your Company is engaged in the manufacture and sale
of customised cable products designed to meet applicable
Indian and international standards, customer
specifications and project requirements. The Company’s
product portfolio includes control cables, instrumentation
cables, power cables up to 3.3 kV, thermocouple
extension and compensating cables, communication
cables and other customised cable solutions.

The Company serves customers across industrial and
infrastructure sectors, including power, oil and gas,
refineries, petrochemicals, steel, cement, chemicals,
water and desalination, metro rail, airports, renewable
energy and other infrastructure-related applications.

The Company focuses on product quality, application
engineering, manufacturing capability, customer service,
timely delivery, process improvement and compliance
with applicable technical and quality requirements. These
capabilities support its business across domestic and
overseas markets.

During the financial year under review, the Company
delivered a strong operational and financial performance
despite a dynamic macroeconomic environment and
evolving market conditions. Total income increased to
' 95,887.80 lakhs from ' 79,848.94 lakhs in the previous
financial year, reflecting healthy growth in business
operations. Profit Before Interest, Tax, Depreciation and
Amortisation (PBITDA) stood at ' 6,328.27 lakhs as
against ' 5,335.22 lakhs in the previous year. Finance

costs were ' 2,579.44 lakhs compared with ' 2,521.61
lakhs in the previous financial year. The total
comprehensive income for the year increased to
' 2,053.40 lakhs from ' 1,453.92 lakhs in the previous
year, reflecting the Company’s sustained focus on
operational efficiency, prudent cost management and
disciplined execution of business strategies.

During the year, the Company continued to pursue
business opportunities across power, renewable energy,
solar, green hydrogen, water and wastewater, process
industries and other infrastructure-related sectors. The
Company also continued to engage with domestic and
overseas customers to address technical requirements,
pursue customer approvals and explore opportunities for
the supply of its cable products.

The Company continued its business-development efforts
in domestic and overseas markets, including the Middle
East and Africa. Its international-business strategy
remains focused on opportunities that meet the
Company’s technical capabilities, customer-approval
requirements, commercial parameters, credit-risk criteria
and export-compliance requirements.

The Company undertook customer-engagement and
business-development initiatives during the year to
showcase its product offerings, manufacturing
capabilities, quality systems and technical expertise.
These initiatives supported engagement with existing and
prospective customers and assisted the Company in
identifying suitable growth opportunities.

Looking ahead, the Company remains focused on
strengthening its product portfolio, enhancing quality
systems, widening its customer base, increasing export
opportunities and pursuing growth in industrial and
infrastructure sectors. The Company will continue to
evaluate opportunities based on its product capability,
applicable technical standards, customer requirements,
commercial viability and prudent risk assessment.

Based on the information presently available and the
prevailing business environment, the Board does not
foresee any material adverse change in the future
prospects of the Company’s business. The state of the
Company’s affairs is further reflected in the accompanying
financial statements forming part of this Annual Report.

The Company operates in one reportable business/
product segment, namely Cables. Accordingly, separate
segment reporting is not applicable.

During the year under review, there was no change in
the name, status or financial year of the Company. No
material acquisition, merger, amalgamation, strategic
partnership or diversification was undertaken during the
year. The Company did not develop, acquire or assign
any material intellectual-property rights during FY 2025¬
26. Further, no other material event occurred during the
year that had a material impact on the affairs of the
Company.

Particulars of Subsidiaries, Joint Ventures and
Associate Companies

The Company does not have any subsidiary, joint venture
or associate company within the meaning of the Act.
During the year under review, no company became or
ceased to be a subsidiary, joint venture or associate
company of the Company.

Change in the Nature of Business

During the period under review, no change has occurred
in the nature of business carried out by your company,
as it has not commenced any new business or
discontinued or disposed-off any of its existing
businesses.

Material Changes and Commitments

No material changes and commitments, either external
or internal such as technical, legal, financial, strikes,
breakdown, and lockdown affecting the financial position
of the Company have occurred between the end of the
financial year to which the financial statement relates and
the date of signing of this Report.

Further, your Company has not revised any of its financial
statements or the Boards’ report in respect of the three
preceding financial years, either voluntarily or pursuant
to any order of a judicial authority.

ISO Certificates and other recognitions

Your Company is awarded the globally recognized and
prestigious ISO 9001:2015, ISO 14001:2015, ISO
45001:2018 certifications. Additionally, it holds BIS 7098
and BIS 1554 certifications for both Kaharani Plant and
Chopanki Plant, and BIS 694 : 2010 for Kaharani Plant,
reflecting its adherence to international standards in
Quality, Environmental, Occupational Health, and Safety
Management Systems.

The Capital Structure, Borrowings and Credit Rating

The Company has not issued any debentures, bonds or
other non-convertible debt securities during the financial
year under review. The Company’s funding requirements
continue to be met primarily through working capital and
term loan facilities availed from banks and financial
institutions, which are utilised prudently to support
business operations and growth initiatives.

Capital Structure

As of March 31,2026, the authorised share capital of the
Company is ' 1,710.00 lacs, divided into 1,35,00,000
equity shares of ' 10 each and 3,60,000 preference
shares of ' 100 each. The paid-up capital of the Company
as of March 31, 2026, is ' 1,292.78 lacs, divided into
1,29,27,780 equity shares of ' 10 each.

During the financial year under review, no change took
place in the authorised, issued, subscribed, and paid-up
share capital of the Company. Consequently, the
disclosures relating to issue of shares, warrants,

convertible securities, equity shares with differential voting
rights, sweat equity shares, employees stock options,
private placement, preferential allotment, right issue, and
shares held in trust for the benefit of employees are not
applicable to your Company for the financial year ended
March 31,2026.

Public Deposits

During the financial year under review, the Company did
not accept any deposits within the meaning of Section

73 of the Act read with the Companies (Acceptance of
Deposits) Rules, 2014. Accordingly, there were no
outstanding deposits, no default in repayment of deposits
or payment of interest thereon, and no deposits accepted
in contravention of the provisions of the Act or the rules
made thereunder.

The particulars of loans and advances not considered as
deposits and not covered under Companies (Acceptance
of Deposits) Rules, 2014, are as follows:

Credit Rating

The credit facilities of the Company have been reaffirmed by CareEdge Ratings Limited (CARE Ratings), reflecting
the Company's stable financial profile, sound operating performance and prudent financial management. The details
of the credit ratings as on the date of this Report are as under:

Dividend and Reserves

The Board remains committed to delivering sustainable
value to shareholders while maintaining a prudent capital
allocation strategy to support the Company’s long-term
growth and financial strength.

Dividend Distribution Policy

Pursuant to the provisions of Regulation 43A of the SEBI
(Listing Obligations and Disclosure Requirements)
Regulations, 2015, the Company has voluntarily adopted
a Dividend Distribution Policy with the objective of
ensuring a fair, transparent and sustainable distribution
of profits while maintaining adequate financial flexibility
to support future business growth and strategic
investments.

The Dividend Distribution Policy is available on the
Company’s website and can be accessed using the link:
https://cordscable.com/code-policies/

Dividend

Your directors are pleased to recommend, for the approval
of the Members at the ensuing 35th Annual General
Meeting, a final dividend of ' 1.20 (Rupee One and
Twenty Paise only) per equity share of face value ' 10
each (i.e., 12%) for the financial year ended March 31,
2026, as against ' 1.00 per equity share (10%) for the
previous financial year.

The proposed dividend, if approved by the Members, will
result in a total dividend outflow of approximately ' 155.13
lacs (previous year: ' 129.28 lacs) payable in accordance
with the applicable provisions of the Income-tax Act, 1961.

The dividend, subject to approval of the Members, will
be paid to those Members whose names appear in the
Register of Members and the records of the Depositories
as on the Record Date fixed for the purpose. Dividend
shall be subject to deduction of tax at source in
accordance with the Income-tax Act, 2025.

During the year ended March 31, 2026, no corporate
actions were undertaken other than the declaration of
dividends. There were no events relating to buy-back of
securities, mergers, demergers, listing or delisting of
securities, and split or consolidation of securities.

Transfer of Unpaid Dividend and Shares to Investor
Education and Protection Fund

Pursuant to Section 125 and other applicable provisions
of the Companies Act, 2013, read with the Investor
Education and Protection Fund Authority (Accounting,
Audit, Transfer and Refund) Rules, 2016 (“IEPF Rules”),
all the unpaid or unclaimed dividends are required to be
transferred to the IEPF established by the Central
Government, upon completion of seven years.

Furthermore, according to the IEPF Rules, the shares in
respect of which dividends have not been paid or claimed
by Shareholders for seven consecutive years, or more
are also required to be transferred to the Demat account
of IEPF Authority.

Your Company does not have any unpaid or unclaimed
dividends or shares relating thereto that require transfer
to the IEPF as of the date of this Report. The details of
the resultant benefits arising out of shares already
transferred to the IEPF, year wise amounts of unclaimed
/ unpaid dividends lying in the unpaid dividend account
up to the year, and the corresponding shares, which are
liable to be transferred, are available on your Company’s
website at

https://cordscable.com/unclaimed-dividend-shares-in-iepf/
Transfers to Reserves

The Directors do not propose to transfer any amount to
any reserve or general reserve of the Company.

Particulars of Loans, Guarantees and Investment

The Company has not granted any loans to any person
or body corporate. The Company has also not provided
any guarantees or furnished any security in connection
with any loan.

The details of investments made by the Company are
disclosed in Note 5 to the Financial Statements. The
Company has complied with the provisions of Section
186 of the Act during the financial year. The aggregate
amount of the investments made by the Company is within
the limits prescribed under the said Section.

Contracts, Arrangements and Transactions with the
Related Parties

The Company has in place a comprehensive Policy on
Materiality of Related Party T ransactions and on Dealing
with Related Party Transactions, formulated in
accordance with the provisions of the Companies Act,
2013 and the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“SEBI Listing
Regulations”). The Policy provides the framework for
identification, approval, review and reporting of related
party transactions and is available on the Company's
website at

htlps//cordscable.com^r>conlenl/uploacb2025/10/Related-Paity-Transaclions-Poilicy modified.pdf

All Related Party Transactions requiring approval under
Section 177 of the Companies Act, 2013 and Regulation
23 of the SEBI Listing Regulations were placed before
the Audit Committee for its prior approval, wherever
applicable. In addition, the Audit Committee reviewed,
on a quarterly basis, a statement containing the details
of all Related Party Transactions entered into by the
Company. The Company also submitted disclosures of
Related Party Transactions to the Stock Exchanges on a
half-yearly basis in the prescribed format.

All Related Party Transactions entered into during the
financial year were in the ordinary course of business,
on an arm's length basis and in compliance with the
applicable provisions of the Companies Act, 2013 and
the SEBI Listing Regulations. The Company did not enter
into any material Related Party Transaction that could
have had a potential conflict with its interests with the
interests of the Company.

Further, no material contract, arrangement or transaction
covered under Section 188(1) of the Companies Act, 2013
was entered into during the year. Accordingly, the
disclosure in Form AOC-2 is not applicable. Details of
Related Party Transactions, as required under the
applicable Indian Accounting Standards, are disclosed
in Note No. 31(B)(II)(D) to the accompanying Financial
Statements forming part of this Annual Report.

Board Composition. Directors and Key Managerial
Personnels

As on March 31, 2026, the Board of Directors of your
Company comprised six (6) Directors, including two (2)
Executive Directors and four (4) Non-Executive
Independent Directors, of whom one (1) is a Woman
Director. The composition of the Board is in compliance
with the applicable provisions of the Companies Act, 2013
and the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015.

Details of the composition of the Board and its
Committees, changes in the Board and Key Managerial
Personnel during the financial year and up to the date of
this Report, together with other relevant information, are
provided in Annexure 1 and 2.

Criteria for Appointment and Remuneration of
Directors and Senior Management Personnel

The Nomination and Remuneration Committee (“NRC”)
has been constituted in accordance with the provisions
of the Companies Act, 2013 and the SEBI (Listing
Obligations and Disclosure Requirements) Regulations,
2015 (“SEBI Listing Regulations”).

Pursuant to Section 178(3) of the Companies Act, 2013
and Regulation 19 read with Part D of Schedule II of the
SEBI Listing Regulations, the Board, on the
recommendation of the NRC, has adopted a Nomination
and Remuneration Policy for the Directors, Key
Managerial Personnel, Senior Management Personnel
and other employees of the Company.

The Policy, inter alia, lays down the criteria for
appointment, remuneration, qualifications, positive
attributes and independence of Directors, while promoting
an appropriate balance of skills, experience, expertise,
diversity and integrity on the Board. An Independent
Director is required to satisfy the criteria of independence
prescribed under the Companies Act, 2013 and the SEBI
Listing Regulations and to comply with the Code for
Independent Directors set out in Schedule IV to the Act.
The policy is available on the Company’s website at:
https://cordscable.com/wp-conlent/uploads/2025/02/Nomination-and-Remuneration-Policy.pdf.

The NRC periodically reviews the composition of the
Board, identifies competency requirements, undertakes
gap analysis whenever necessary, including at the time
of appointment or re-appointment of Directors, and
recommends suitable candidates to the Board.

During the year under review, the Board reviewed the
core skills, expertise and competencies required in the
context of the Company's business and mapped the same
with the existing Directors. The details thereof are
provided in the Corporate Governance Report forming
part of this Annual Report.

The remuneration payable to the Executive Directors is
recommended by the NRC and approved by the Board
of Directors and Members, wherever required, in
accordance with the applicable provisions of the
Companies Act, 2013 and the SEBI Listing Regulations.

The Executive Directors are not entitled to sitting fees for
attending meetings of the Board or its Committees. The
Independent Directors are paid sitting fees for attending
meetings of the Board and its Committees within the limits
prescribed under the Act.

Your directors affirm that the remuneration paid to the
Directors, Key Managerial Personnel, Senior
Management Personnel and other employees during the
financial year under review was in accordance with the
Nomination and Remuneration Policy of the Company.

The particulars regarding remuneration of the Directors
and Key Managerial Personnel, along with details of the
ratio of remuneration of each Director to the median

remuneration of employees of the Company for the
financial year under review, is given in ‘Annexure 3’.

A statement containing particulars of the top ten
employees and the employees drawing remuneration in
excess of limits prescribed under Section 197(12) of the
Act, read with Rule 5(2) and (3) of the Companies
(Appointment and Remuneration of Managerial
Personnel) Rules, 2014, is given in ‘Annexure 3’.

In terms of proviso to Section 136(1) of the Act, the Report
and Accounts are being sent to the shareholders including
the aforesaid Annexure. The aforesaid Statement is also
open for inspection at the Registered Office of the
Company up to the date of the ensuing Annual General
Meeting. Any member interested in obtaining a copy of
the same may write to the Company Secretary.

Neither the Managing Director nor the Whole-time Director
of your Company receives any remuneration or
commission from any of its subsidiaries as there was no
such subsidiary company during the period under review.

Annual Performance Evaluation of the Board,
Committees and Directors

The NRC has laid down the evaluation criteria, process
and timelines for the performance evaluation of the Board,
its Committees and the Directors. The evaluation
framework includes key parameters covering the
effectiveness of the Board and Committee composition,
governance processes, strategic oversight, quality of
deliberations, decision-making and the contribution and
participation of individual Directors. The Board periodically
reviews and approves the evaluation framework to ensure
a transparent, objective and comprehensive evaluation
process.

The Board of Directors, at its meeting held on February
13, 2026, carried out the annual performance evaluation
of the Board, its committees and the individual Directors.
The performance of the Board and individual Directors
was evaluated after seeking feedback from all the
Directors, while the performance of the Committees was
evaluated by the Board based on the feedback received
from the respective Committee members.

The evaluation criteria are broadly aligned with
the Guidance Note on Board Evaluation issued by the
Securities and Exchange Board of India on January 5,
2017. Based on the outcome of the evaluation, the Board
expressed its satisfaction with its overall effectiveness
and the functioning of its committees and individual
Directors.

Statement and Declaration in respect of Independent
Directors

The Company has received declarations from all the
Independent Directors confirming that they meet the
criteria of independence as laid down under Section
149(6) of the Companies Act, 2013, read with Rule 6 of
the Companies (Appointment and Qualification of

Directors) Rules, 2014, and Regulation 16 of SEBI (Listing
Obligation and Disclosure Requirements), Regulations,
2015 along with compliance with registration in
Independent Directors Data Bank.

In terms of Regulation 25(8) of the SEBI Listing
Regulations, the Independent Directors of the Company
have confirmed that they are not aware of any
circumstance or situation that exists or may be reasonably
anticipated that could impair or impact their ability to
discharge their duties with an objective independent
judgement and without any external influence.

The Board of Directors of the Company has taken on
record the aforesaid declarations and confirmations
submitted by the Independent Directors after undertaking
due assessment of the veracity of the same. In the opinion
of the Board, all the Independent Directors fulfil the
conditions of independence as specified in the Act and
the Rules made thereunder and are independent of the
management. There has been no change in the
circumstances affecting their status as Independent
Directors of the Company.

The Independent Directors have also confirmed that they
have complied with the Company’s Code of Conduct for
Independent Directors as prescribed in Schedule IV to
the Companies Act, 2013. The Certificate of
Independence received from all the Independent Directors
has been duly noted by the Board at its meeting held on
May 28, 2026.

A statement of the Board of Directors with regard to
integrity, expertise, and experience of Independent
Directors appointed during the financial year 2025-26 is
annexed herewith as ‘Annexure 4’.

Meeting of Board and its Committees

The Company has constituted various Committees in
compliance with the provisions of the Companies Act,
2013, and SEBI Listing Regulations, namely the Audit
Committee, Nomination and Remuneration Committee,
Stakeholders Relationship Committee, Committee of
Directors, and Corporate Social Responsibility
Committee.

The constitution of Committees, appointment of
Committee members, terms of reference and scope of
responsibilities of the respective Committees are
determined by the Board of Directors in accordance with
the applicable statutory and regulatory requirements.

During the year, all the recommendations made by the
Audit Committee were accepted by the Board. Further,
details of the particulars of role and composition of these
committees, including the numbers of meetings held
during the financial year and attendance at meetings, are
provided in the Corporate Governance Section, annexed
as ‘Annexure 1 ’

Meeting of Independent Directors

The Independent Directors met once during the financial
year under review on February 13, 2026, pursuant to
Regulation 25 of the Securities and Exchange Board of
India (Listing Obligations and Disclosure Requirements)
Regulations, 2015, and Schedule IV to the Companies
Act, 2013, inter-alia, to discuss:

• Evaluation of performance of Non-Independent
Directors and the Board of Directors as a whole;

• Evaluation of performance of the Chairman of the
Company, taking into account views of Executive and
Non-Executive Directors;

• Evaluation of the quality, content, and timelines of
flow of information between the Management and the
Board that is necessary for the Board to effectively
and reasonably perform its duties.

The meeting of the Independent Directors was conducted
without the presence of the Chairman, Managing Director,
Non-Executive Directors, Chief Financial Officer, and the
Company Secretary and Compliance Officer of the
Company.

Familiarization Program for Independent Directors

The Board is regularly updated on changes in statutory
provisions, as applicable to your Company. Pursuant to
the provisions of Regulation 25(7) of the SEBI Listing
Regulations read with Schedule IV of the Act, the
Company has also formulated a Familiarization Program
for Independent Directors with an aim to familiarize the
Independent Directors with the Company, their roles,
rights, responsibilities in the Company, nature of the
industry in which the Company operates, business model
of the Company etc., to provide them with better
understanding of the business and operations of the
Company and so as to enable them to contribute
significantly to the Company.

The details of familiarization and orientation program are
provided in the Corporate Governance Report and are
also available on the Company’s website at

https://cordscable.com/wp-content/uploads/2025/02/Familiarisation-Programme.pdf

Directors’ Responsibility Statement

The Board of Directors acknowledges the responsibility
for ensuring compliance with the provisions of Section
134(3)(c) read with Section 134(5) of the Companies Act,
2013, in the preparation of the annual accounts.
Accordingly, the Directors of your Company make the
following statements in terms of Section 134 of the
Companies Act, 2013, to the best of their knowledge and
belief, and according to the information and explanations
obtained by them:

a) In the preparation of the annual accounts for the year
ended March 31, 2026, the Indian Accounting
Standards (Ind AS) have been followed, and there
are no material departures.

b) The Directors had 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
your company at the end of the financial year on
March 31,2026, and of the profit of the company for
the period ended on that date.

c) The directors have taken proper and sufficient care
for the 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 had prepared the annual accounts for
the year ended on March 31, 2026, on a going
concern basis.

e) The directors had laid down internal financial controls
to be followed by the company and that such internal
financial controls are adequate and are operating
effectively; and

f) The directors had devised proper systems to ensure
compliance with the provisions of all applicable laws
and that such systems were adequate and operating
effectively.

Adequacy of Internal Financial Control Systems

Based on the framework of Internal Financial Controls
over Financial Reporting and compliance systems
established and maintained by the Company, work
performed by the internal, statutory, and secretarial
auditors and external consultants, and the reviews
performed by management and the relevant board
committees, including the Audit Committee, the Board is
of the opinion that Company’s internal financial controls
were adequate and effective during the financial year
under review. The Directors review the financial control
systems from time to time and adequate steps are taken
to strengthen such systems. Details regarding internal
financial controls and their adequacy are also included
in the Management Discussion and Analysis.

Risk Management Policy

Risk Management Policy commensurate with its size and
nature of business is developed and implemented by the
company and discussed by the Board from time to time
while it reviews the business operations. Policy is primarily
developed with a view to identify and mitigate risks that
could threaten the existence of the company. The policy
provides a reasonable assurance in respect of providing
financial and operational risk in respect of business of
the company, complying with applicable statutes and
safeguarding of assets of the company.

Board periodically reviews top enterprise risks and
mitigation measures. The Board is of the opinion that there
are no significant risks that may threaten the existence
of the Company. Based on its assessment, the Board

does not foresee any material risks that could adversely
impact the Company’s operations or continuity as on the
date of this Report. The Audit Committee continues to
provide oversight on the adequacy and effectiveness of
the Company’s financial controls and related matters.

A brief about the risks and concern is also given in the
Management Discussion and Analysis Report.

Managing Director and Chief Financial Officer
Certification

The Managing Director and the Chief Financial Officer of
the Company have given a certificate to the Board as
contemplated under Regulation 17(8) of SEBI (Listing
Obligation and Disclosure Requirements), 2015. The
certificate is annexed with this report as ‘Annexure 5’.

Management Discussion and Analysis

The Management Discussion and Analysis and the
Business Responsibility Report, as required under the
SEBI Listing Regulations, form part of this report as
Annexure 6’.

Corporate Governance

The Governance, Corporate Secretarial, and Legal
functions of the Company ensure maintenance of good
governance within the organization. The existence of good
corporate governance is essential for the businesses to
function smoothly, ensuring compliant at all times and
providing strategic business partnership in the areas
including legal expertise, corporate restructuring,
regulatory changes, and governance.

As required by Regulation 34 of the Securities and
Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (‘Listing
Regulations’), a detailed report on Corporate Governance
together with the Auditor’s Certificate on its compliance
forms part of the Annual Report as ‘Annexure 1 ’.

A certificate issued by M/s Gupta Gulshan & Associates,
Company Secretaries, regarding compliance with the
conditions of Corporate Governance as stipulated in
Regulation 34(3) and Schedule V of SEBI (Listing
Obligation and Disclosure Requirements), 2015, has been
obtained and is annexed at the end of Corporate
Governance Report in the aforesaid annexure.

Also, a declaration signed by the Managing Director
stating that the members of the Board of Directors, and
senior management personnel have affirmed the
compliance with code of conduct of the Board of Directors
and Senior Management forms part of this report. The
code can be viewed at the following link:
https://cordscable.com/code-policies/

Audit Committee, Vigil Mechanism and Whistle Blower
Policy

Pursuant to the provisions of Section 177 of the
Companies Act, 2013, read with Rule 6 of the Companies
(Meetings of the Board and its Powers) Rules, 2014, and

Regulation 18 of SEBI (Listing Obligations and
Disclosures Requirements) Regulations, 2015, the details
pertaining to the composition of the Audit Committee are
included in the Corporate Governance Report, which
forms part of this Annual Report.

All recommendations of the Audit Committee have been
accepted by the Board; hence, there is no requirement
to disclose reasons for not accepting any such
recommendations.

The Company has established a vigil mechanism by
adopting a Whistle Blower Policy for stakeholders,
including Directors and employees of the Company and
their representative bodies, to report genuine concerns
in the prescribed manner, enabling them to freely
communicate their concerns and grievances about illegal
or unethical practices in the Company, actual or
suspected fraud or violation of the Company's Code or
Policies.

The vigil mechanism is overseen by the Audit Committee
and provides adequate safeguards against victimization
of stakeholders who use such mechanism. It provides a
mechanism for stakeholders to approach the Chairman
of the Audit Committee or the Chairman of the Company.

During the year, no whistle blower complaint was received
and no person was denied access to the Chairman of the
Audit Committee or to the Chairman of the Company.
The Whistle Blower Policy of the Company is available
at web link

https://cordscable.com/wp-content/uploads/2025/02/Whistle-Blower-Policies.pdf

Audit and Auditors

The Company has a robust audit framework to ensure
the accuracy and integrity of its financial reporting,
compliance with applicable laws and regulations, and
adherence to sound corporate governance practices. The
details relating to the Company’s Auditors and the audit
conducted during the year are provided below.

Appointment of Statutory Auditors and their Report

The members at the 30^th Annual General Meeting of the
Company approved the re-appointment of M/s Alok Misra
& Co., Chartered Accountants (FRN 018734N), as the
Statutory Auditors of the Company to hold office for a
second term of five years, i.e., from the conclusion of the
30^th Annual General Meeting and until the conclusion of
35^th Annual General Meeting.

As the tenure of M/s Alok Misra & Co., Chartered
Accountants (FRN 018734N) is expiring on this AGM,
the Board of Directors, at its meeting held on August 13,
2026, (based on the recommendation of the Audit
Committee), has approved the appointment of M/s GVKN
& Associates, Chartered Accountants (Firm Registration
No. 016479N) as the Statutory Auditors of the Company.
Their appointment is for a term of five consecutive years
commencing from FY 2026-27 till FY 2030-31, subject

to the approval of the Members at the ensuing Annual
General Meeting. The remuneration payable to the
Statutory Auditors shall be determined by the Board of
Directors (including its Committees thereof), from time to
time, in consultation with the Statutory Auditor for each
Financial Year.

The Statutory Auditors, M/s GVKN & Associates,
Chartered Accountants (Firm Registration No. 016479N),
have submitted a certificate confirming their eligibility
under Section 139 of the Act and that they meet the criteria
for appointment specified in Section 141 of the Act.
Further, the Company has also received a declaration
from the Auditors that they are not disqualified for such
appointment/reappointment under the said Act.

The Auditor’s Report is annexed with the financial
statements for the financial year under review. The
Auditor’s Report does not contain any qualifications,
reservations, adverse remarks, or disclaimers; hence, no
explanation or comments from the Board are required in
this regard. The observations of the Statutory Auditors in
their report should be read with the relevant notes to
accounts and are self-explanatory, requiring no further
comments.

Secretarial Standards, Appointment of Secretarial
Auditors and their Reports

The company has complied with the applicable Secretarial
Standards (SS-1 and SS-2) issued by the Institute of
Company Secretaries of India. The Directors have
devised proper systems and processes for complying with
the requirements of applicable Secretarial Standards
issued by the Institute of Company Secretaries of India,
and that such systems were adequate and operating
effectively.

In terms of Section 204 of the Companies Act, 2013 and
in compliance with Regulation 24A of the SEBI Listing
Regulations and Section 204 of the Act, the Board at its
meeting held on May 27, 2025, based on recommendation
of the Audit Committee, has approved the appointment
of M/s Gupta Gulshan & Associates, Company
Secretaries (Firm Registration No - 3925), as Secretarial
Auditors of the Company for a term of five consecutive
years commencing from FY 2025-26 till FY 2029-30, at
such remuneration as may be determined by the Board
of Directors of the Company (including its Committees
thereof), from time to time, in consultation with the
Secretarial Auditors for each Financial Year.

A copy of the Secretarial Audit Report submitted by M/s
Gupta Gulshan & Associates, Company Secretaries is
annexed herewith as ‘Annexure 7’.

The Annual Secretarial Compliance Report for the financial
year under review, also obtained from M/s Gupta Gulshan
& Associates, Company Secretaries and submitted to stock
exchanges i.e. BSE and NSE within stipulated time period,
is annexed herewith as ‘Annexure 8’.

The aforesaid reports do not contain any qualifications,
reservations, adverse remarks, or disclaimers; therefore,
the Board is not required to provide further comments
thereon.

Cost Records, Appointment of Cost Auditors and Cost
Audit Report

In accordance with Section 148 of the Companies Act,
2013, read with The Companies (Cost Records and Audit)
Rules, 2014, the Company maintains accounts and
records related to manufacturing activities and has them
duly audited.

The Cost Audit Report for the previous financial year
2024-25, issued by M/s S Chander & Associates, Cost
Accountants, was submitted to the Ministry of Corporate
Affairs on August 27, 2025. The Cost Audit for the financial
year 2025-26 is currently underway, and the report will
be submitted to the Ministry of Corporate Affairs upon
completion of the audit by M/s S Chander & Associates,
Cost Accountants, who have been appointed as the Cost
Auditors for the said financial year.

The Board has approved the appointment of M/s
S Chander & Associates, Cost Accountants (Firm
Registration No. 100105), as Cost Auditors for the
financial year 2026-27. The remuneration of Cost Auditors
shall be subject to ratification by the shareholders at the
ensuing Annual General Meeting.

Reporting of Frauds by Auditors

The Statutory Auditors, Secretarial Auditors and Cost
Auditors of the Company have not reported any fraud
under Section 143(12) of the Companies Act, 2013 read
with the rules made thereunder during the financial year
under review. There were no instances of fraud reported
by the Auditors either to the Company or to the Central
Government during the said period.

Corporate Social Responsibility (CSR)

Pursuant to the provisions of Section 135 of the
Companies Act, 2013 (“the Act”) read with the Companies
(Corporate Social Responsibility Policy) Rules, 2014, the
Company has constituted a Corporate Social
Responsibility (“CSR”) Committee of the Board to
formulate, monitor and recommend the CSR Policy and
oversee the implementation of the Company’s CSR
initiatives.

The Company’s CSR Policy provides the guiding
framework for undertaking socially responsible initiatives
aimed at creating sustainable value for the community
and contributing towards inclusive growth. The Policy is
available on the Company’s website at:
https://cordscable.com/wp-content/uploads/2025/02/CSR-Policy.pdf

During the financial year under review, the Company’s
CSR initiatives continued to focus on education,
healthcare, nutrition and community welfare, with special
emphasis on supporting underprivileged and differently-
abled children.

As part of its education initiatives, the Company organized
various programmes to promote quality education and
improve the academic environment for students. These
initiatives included the distribution of school uniforms,
school bags, books, notebooks and other educational
materials to deserving students.

In the area of healthcare, the Company extended support
by providing hearing-aid devices to hearing-impaired
children and organized health check-up camps at
Kaharani and Chopanki, (Rajasthan), benefiting the local
communities through preventive healthcare and medical
assistance.

The Company also collaborated with ISKCON in support
of its “Anna se Atma ki Sewa” programme, a charitable
initiative aimed at combating malnutrition and addressing
food insecurity by providing nutritious meals.

Further, during the year, the Company contributed to the
PM CARES Fund in accordance with the activities
specified under Schedule VII of the Companies Act, 2013,
reaffirming its commitment to supporting national relief
and welfare initiatives.

The composition of the CSR Committee, its terms of
reference and details of meetings held during the financial
year are provided in the Corporate Governance Report,
which forms part of this Annual Report.

The Annual Report on CSR activities containing the
disclosures prescribed under Section 135 of the
Companies Act, 2013 read with the Companies
(Corporate Social Responsibility Policy) Rules, 2014, is
annexed to this Report as Annexure 9’.

Conservations of Energy

The Company meets its energy requirements primarily
through electricity supplied by the State electricity
distribution utility and maintains adequate power backup
facilities to ensure uninterrupted operations. The
Company remains committed to enhancing energy
efficiency, optimizing resource utilization and promoting
sustainable manufacturing practices. During the financial
year, the following energy conservation measures were
undertaken:

a) Deployment of battery-operated electric forklifts for
internal material handling in place of conventional
diesel-operated forklifts, resulting in reduced fossil
fuel consumption, lower carbon emissions and
improved operational efficiency.

b) Introduction of PP (Polypropylene) Sheet packing for
cable drums in place of conventional wooden battens,
reducing the consumption of timber-based packing
materials, optimizing packaging weight and promoting
sustainable utilization of natural resources.

c) Continued replacement of conventional lighting
with energy-efficient LED lighting across
manufacturing facilities, leading to lower electricity
consumption.

d) Installation of IE3 Premium Efficiency Motors for new
installations and replacement of existing motors,
resulting in improved energy efficiency and reduced
power consumption.

e) Installation of Variable Frequency Drives (VFDs) on
selected motors and equipment to optimize energy
consumption based on process requirements.

f) Replacement of conventional DC motors with energy-
efficient AC motors, wherever technically feasible,
to improve equipment reliability and reduce energy
consumption.

g) Strengthening of preventive maintenance practices
and energy monitoring systems to ensure optimum
performance of plant and machinery and minimize
energy losses.

h) Implementation of rainwater harvesting facilities to
facilitate the collection of rainwater and its percolation
into the ground, thereby contributing to groundwater
recharge, conservation of water resources and long¬
term environmental sustainability.

The above initiatives have contributed to improved energy
efficiency, conservation of natural resources, reduction
in environmental impact and enhancement of operational
performance.

The company has taken various steps for utilizing
alternate sources of energy including use of battery-
operated electric forklifts, utilizing electrical energy as an
alternative to fossil fuels for internal material handling
operations. The Company continues to evaluate the
adoption of renewable energy sources and other energy-
efficient technologies with a view to improving
sustainability and reducing its environmental footprint.

The Company also invested in PP Sheet-based cable
drum packing and rainwater harvesting infrastructure to
support sustainable manufacturing practices, efficient
utilization of natural resources and long-term
environmental sustainability.

Technology Absorption

The Company is committed to continuously improving its
manufacturing processes, product quality and operational
efficiency through the adoption of appropriate
technologies, process optimization and research and
development initiatives.

During the financial year under review, the Company
continued to undertake measures aimed at improving
productivity, enhancing product quality, reducing process
losses and ensuring efficient utilization of resources.
These initiatives contributed to improved operational
efficiency and supported the Company’s business
objectives.

The Company has not imported any technology during
the last three financial years and has not entered into
any foreign technology collaboration or technology
transfer agreement. The particulars relating to technology
absorption are as under:

Foreign Exchange Earnings and Outgo

During the year under review, Company’s products were
exported to other countries, earning foreign exchange.
The Company also participated in international
exhibitions, seminars, and conferences, to promote of its
products. Efforts shall continue to expand the
geographical reach on export market to maximize foreign
exchange inflow and to minimize the foreign exchange
outflow.

The Company earned ' 10,836.01 lacs (previous year:
' 2,028.52 lacs) in foreign exchange in terms of actual
inflows and spent an amount of ' 101.31 lacs (previous
year: ' 14.13 lacs) in foreign exchange outgo in terms of
actual outflows during the financial year under review.

Compliance with Insider Trading Code

The company has adopted an ‘Internal Code of Conduct
for Regulating, Monitoring, and Reporting of Trades by
Designated Persons’ (“the Code”) in accordance with the
SEBI (Prohibition of Insider Trading) Regulations, 2015
(The PIT Regulations). The Code is applicable to
Promoters, Members of Promoter Group, all Directors,

and such Designated Employees who are expected to
have access to unpublished price-sensitive information
relating to the Company. The Company has maintained
Structured Digital Database in accordance with PIT
Regulations and complied with the applicable regulations.

The Company Secretary is the Compliance Officer for
monitoring adherence to the said PIT Regulations. The
company has also formulated ‘The Code of Practices and
Procedures for Fair Disclosure of Unpublished Price
Sensitive Information (UPSI)’ in compliance with the PIT
Regulations. All Board of Directors and the designated
persons have confirmed compliance with the Code. This
Code is displayed on company’s website:
https://cordscable.com/wp-content/uploads/2025/03/Insider-Trading-Policy-edit.pdf

Detail of Orders Passed by Regulators, Courts, or
Tribunals

During the period under review, no material orders have
been passed by any regulator, court, tribunal that would
impact the Company’s going concern status or future
operations, except to the extent as may be mentioned in
the notes to accounts attached to the financial statements
forming part of the Annual Report.

Details of Applications under Insolvency and
Bankruptcy Code, 2016

During the period under review, no application was filed
against the Company under the Insolvency and
Bankruptcy Code, 2016, for default in payment of debt.
Consequently, status of such application and other
disclosures in this regard are not applicable to your
Company.

Particulars about Valuation in case of One-Time
Settlement

During the financial year under review, the company did
not enter into one-time settlement with banks or financial
institutions in respect of loans availed by the Company.
Therefore, the reasons and other disclosures regarding
differences between the 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
are not applicable.

Listing and Dematerialization of Securities, Payment
of Listing Fee and Electronic Filing

The shares of the Company are listed on the National
Stock Exchange of India Limited (NSE) and BSE Limited
(BSE). The listing fee for the year 2025-26 has already
been paid to the stock exchanges. The equity shares are
available for dematerialization through National Securities
Depository Limited and Central Depository Services
(India) Limited, and ISIN assigned to the equity shares is
INE792I0101 7.

The company is also periodically uploading Annual
Reports, Financial Results, Shareholding Patterns, etc.,

on its website: www.cordscable.com within the prescribed
time limit.

Digital Initiatives, Cyber Security and use of Artificial
Intelligence

The Company regularly uploads the Annual Report,
financial results, shareholding pattern and other statutory
disclosures on its website, www.cordscable.com. within
the prescribed timelines. The Company has maintained
books of account through accounting software having
audit trail feature as applicable under Rule 3(1) of the
Companies (Accounts) Rules, 2014.

The Company continues to strengthen its cyber security
framework through periodic reviews and appropriate
technological controls. No cyber security breaches or data
loss incidents were reported during the financial year.
The Company also evaluates the use of artificial
intelligence to enhance operational efficiency and
business processes in a responsible manner.

Green Initiative in Corporate Governance

In line with the Green Initiative introduced by the Ministry
of Corporate Affairs (“MCA”), the Company continues to
promote environmentally sustainable practices by
encouraging Members to receive communications
electronically, thereby reducing paper consumption and
conserving natural resources.

The Annual Report for the financial year 2025-26 and
the Notice convening the 35th Annual General Meeting
(“AGM”) are being sent electronically to Members whose
e-mail addresses are registered with the Company,
Depository Participants or the Registrar and Share
Transfer Agent, in accordance with the applicable
provisions of the Companies Act, 2013 and the SEBI
(Listing Obligations and Disclosure Requirements)
Regulations, 2015. Physical copies are made available
upon request.

Annual Return

Pursuant to Section 92(3) of the Companies Act, 2013
read with Rule 12 of the Companies (Management and
Administration) Rules, 2014, the Annual Return as on
March 31, 2026 is available on the Company’s website
at https://cordscable.com/annual-return/

Environment and Safety

Your Company is conscious of the importance of
environmentally clean and safe operations. Your
Company endeavours that the conduct of all operations
is in such manner so as to ensure safety of all concerned,
compliance of statutory and industrial requirements for
environment protection and conservation of natural
resources to the extent possible.

The Company has also provided remote e-voting facility
in compliance with Section 108 of the Companies Act,
2013 read with the Companies (Management and

Administration) Rules, 2014. The detailed e-voting
instructions are included in the Notice of the AGM.

Human Resources and Compliances

The Company recognizes its employees as its most
valuable asset and remains committed to fostering a work
environment that promotes diversity, equity, inclusivity
and mutual respect. During the financial year under
review, the Company continued to invest in employee
training, skill enhancement, performance development
and welfare initiatives, with the objective of improving
productivity and employee satisfaction.

The Company is an equal opportunity employer and is
committed to providing a safe, inclusive and respectful
workplace for all employees. It does not discriminate on
the basis of gender, caste, religion, disability or sexual
orientation. As on March 31, 2026, the Company had a
total workforce of 243 employees, comprising 217 male
employees and 26 female employees. There were no
transgender employees on the rolls of the Company as
on that date.

The Company continued to comply with all applicable
labour and employment laws, and industrial relations
remained cordial throughout the year. The Company also
complied with the provisions of the Maternity Benefit Act,
1961 and extended all statutory benefits to eligible women
employees.

Prevention of Sexual Harassment at Workplace

As per the requirement of The Sexual Harassment of
Women at Workplace (Prevention, Prohibition &
Redressal) Act, 2013 and rules made thereunder, your
Company has laid down a Prevention of Sexual
Harassment (POSH) Policy and has constituted Internal
Complaints Committees (ICC) at all relevant locations
across India to consider and resolve the complaints
related to sexual harassment, including those raised
through the Government of India’s SHe-Box platform. The
policy is available at Company’s website:
https://cordscable.com/wp-content/uploads/2025/02/Policy-on-POSH-Act.pdf

The Internal Complaints Committees comprise senior
women employees as Presiding Officers and include
external members possessing the requisite experience
and expertise to conduct the investigations and make
decisions at the respective locations. Your Company has
zero tolerance on sexual harassment at the workplace.

The ICC also work extensively on creating awareness
on relevance of sexual harassment issues, including while
working remotely. The employees are required to undergo
mandatory training/ certification on POSH to sensitise
themselves and strengthen their awareness.

During the financial year under review, there were no
complaints received by the Company under the applicable
regulatory or statutory requirements. Accordingly, no
complaints were pending at the beginning or end of the
year, and no complaints remained pending for more than
90 days.

Appreciation

Your Directors express their sincere gratitude for the
guidance, support and assistance received from the
Government of India, State Governments, Government
departments, banks, customers, suppliers and business
associates for their continued faith, trust and confidence
reposed in the Company.

The Board of Directors also places on record its sincere
appreciation for the dedicated efforts and consistent
contribution of employees at all levels, which have
enabled the Company to sustain its growth and
performance.

The Board further acknowledges the confidence reposed
by the shareholders in the Company and looks forward
to their continued support in the years ahead.

By Order of Board
For Cords Cable Industries Limited

Naveen Sawhney Pawan Kumar Maheswari
Managing Director Whole Time Director

DIN: 00893704 DIN: 10238911

Place: New Delhi
Date: August 13, 2026