To

The Members,

Your Directors are pleased to present the 41 st Annual Report (Integrated) on the business and operations of the Company and the auditedfinancial financial year ended 31 st March, 2026.

1. FINANCIAL RESULTS

The Board's Report is prepared based on the standalone financial statements of the Company. The Company's financial performance for the year under review (standalone and consolidated) alongwith previous year's figures are given hereunder -

` ( in Lakhs)

Financial Year ended

Particulars Standalone Consolidated

March 31, 2026 March 31, 2025 March 31, 2026 March 31, 2025

Revenue from Operations 14,62,013.40 17,93,615.91 17,89,516.52 20,82,889.48

Profit before finance cost, depreciation,

1,83,456.15 3,45,576.60 2,30,642.25 3,54,820.32 exceptional items and tax

Less:

Finance costs 47,015.47 48,835.03 61,955.93 62,345.34

Depreciation and amortization expense 49,444.09 47,949.10 63,049.11 60,205.97

Profit before tax 86,996.59 2,48,792.47 1,05,637.21 2,32,269.01 Share of profit/(loss) of joint venture - - 1,933.31 2,627.49 Tax expense 8,598.02 61,345.55 15,037.95 89,091.73

Profit after tax 78,398.57 1,87,446.92 92,532.57 1,45,804.77

Other Comprehensive Income (371.69) (647.30) 12,889.46 1,166.74

Total Comprehensive Income for the year 78,026.88 1,86,799.62 1,05,422.03 1,46,971.51

Earning per Equity share (face value of ` 1/- each)

(i) Basic (`) 12.30 29.44 15.27 27.31 (ii) Diluted (`) 12.27 29.35 15.23 27.22

2. REVIEW OF OPERATIONS

The financial year 2025-26 has registered decrease in production and sales volumes as compared to previous financial year. The total pipe production (including pig iron) during 2025-26 was ~ 14,90,398 MT (including ~ 1,21,648 MT pipes produced on job work) as compared to ~ 17,04,013 MT (including ~ 80,512 MT pipes produced on job work) during 2024-25. The annual pellet production during 2025-26 was 14.60 lakhs MT as compared to 16.50 lakhs MT during 2024-25. During financial year 2025-26, the Company has sold (including pig iron) ~ 13,75,935 MT (including ~ 75,083 MT pipes on job work) as compared to 16,97,577 MT (including ~ 77,466 MT pipes on job work) during 2024-25.

30

3. CHANGE IN THE NATURE OF BUSINESS

There was no change in the nature of business of the

Company during the financial yearended 31 st March, 2026.

4. MATERIAL CHANGES AND COMMITMENTS

There have been no material changes and commitments affecting the financial position of the Company which have occurred between the end of the financial year to which the financial statements relate and the date of this Report.

5. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis, as stipulated under

Regulation 34 of SEBI Listing Regulations forming part of this report has been given under separate section.

6. DIVIDEND

The Board has, subject to the approval of Members at the ensuing annual general meeting, recommended a dividend

@ ` 2/- per equity share of face value of Re. 1/- per equity share (i.e. 200%) for the year ended March 31, 2026.

7. DIVIDEND DISTRIBUTION POLICY

Your Company has a Dividend Distribution Policy, in compliance with the SEBI (Listing Obligations & Disclosure

Requirements) Regulations, 2015 (SEBI Listing Regulations). The Policy is available on the Company's website: https:// jindalsaw.com/docs/Dividend-Distribution-Policy.pdf.

In terms of the Policy, shareholders of the Company may expect dividend if the Company has surplus funds after taking into consideration relevant internal and external factors enumerated in the Policy for declaration of dividend.

8. TRANSFER TO RESERVES

Since the requirement to do transfer from Current Year

Profits to Reserves have been dispensed off by the Ministry of Corporate Affairs (''MCA''), no amount was transferred to any reserve during the financial year.

9. SHARE CAPITAL

The paid-up and subscribed equity share capital of the Company as on 31 st March 2026 stands at ` 63,95,18,734/, divided into 63,95,14,734 equity shares of Re. 1/- each. The paid-up equity share capital also includes ` 4,000/- comprising 8,000 equity shares of Re. 1/- each, which are partly paid and have been forfeited by the Company.

Further, during the year under review, the Board of Directors, at its meeting held on 9 th June, 2025, pursuant to a request received from the shareholders of 8% Non Cumulative, Non Convertible Redeemable Preference Shares (RPS), approved the redemption of 17,09,821 (RPS), representing

50% of the outstanding RPS. Accordingly, the paid up and subscribed preference share capital of the Company as on 31 st March 2026, stands at ` 17,09,81,700 divided into 17,09,817 RPS of ` 100/- each.

Apart from the above, there was no other change in the share capital of the Company during the year. The equity shares of the Company are listed on BSE Limited and National Stock Exchange of India Limited.

10. NON-CONVERTIBLE DEBENTURES

As on 31st March, 2026, the Non-Convertible Debentures

(NCDs) of the Company stand at ` 500 Crores dividend into 5000 NCDs of ` 10,00,000/- each. The NCDs of the Company are listed on the debt segment of National Stock Exchange of India Limited.

11. PUBLIC DEPOSITS

The Company has not accepted any deposits from the public during the year under review within the meaning of

Sections 73 and 74 of the Companies Act, 2013 read with the

Companies (Acceptance of Deposits) Rules, 2014.

Further, no amount of principal or interest on deposits was outstanding as on 31 st March 2026.

12. EMPLOYEES SHARE BENEFIT SCHEMES

The Company has the following schemes with an objective of enabling the Company to attract and retain talented human resources by offering them the opportunity to acquire a continuing equity interest in the Company, which will reflect their efforts in building the growth and the profitability the Company

i. Jindal Saw Limited Stock Appreciation Rights' Scheme, 2018 (the "SAR Scheme 2018")

ii. Jindal Saw Limited General Employee Benefit Scheme,

2018 (the "GEB Scheme 2018")

iii. Jindal Saw Limited Retirement Benefit Scheme, 2018

(the "RB Scheme 2018")

A Trust was formed to implement and administer the above scheme and is administered by Axis Trustee Services Limited as trustee. The above schemes involves acquisition of shares from the secondary market. The trustee had brought 21,00,328 equity shares of the Company under

SAR Scheme 2018. Out of the total of shares held by Trust, The Nomination and Remuneration Committee granted

18,06,328 SAR and 3,04,430 SAR backed by equal number of shares held by trust during the FY 2021-22 and FY 2023-24, respectively.

The applicable disclosures as stipulated under the SEBI

(Share Based Employee Benefits) Regulations, 2021 ("SBEB Regulations"), pertaining to the year ended 31 st March, 2026, is available on the Company's website at https://jindalsaw. com/investor-relations/compliances/.

13. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

As on 31 st March 2026, the Company has 7 direct subsidiaries,

14 indirect subsidiaries and 3 associate companies.

The Board of Directors periodically reviews the affairs, performance and financial position of the subsidiaries.

During the year under review, the Company, through one of its subsidiaries, incorporated two subsidiaries namely Jindal Saw And Buhur Altavision Co. in the Kingdom of Saudi Arabia (KSA) and Jindal Seamless Pipe Manufacturing LLC in the United Arab Emirates (UAE). Further, the Company also acquired 26.52% equity shareholding in AMPIN C&I Power

Nineteen Private Limited through a subsidiary.

Accordingly, Jindal Saw and Buhur Altavision Co. and Jindal Seamless Pipe Manufacturing LLC became subsidiaries of the Company, while AMPIN C&I Power Nineteen Private Limited became an associate of the Company. that they are not disqualified from

Further, during the period under review Jindal MMG, LLC, ceases to be the Joint Venture of the Company.

In accordance with the provisions of Companies Act, 2013, the consolidated financial statements of the Company and its subsidiaries are prepared and form part of this Annual Report. Further, a statement containing the salient features of the financial statements of the associates and joint ventures in Form AOC-1, as required under Section 129(3) of the Companies Act, 2013, forms part of the Annual Report. The statement provides details of the performance and financial position of each of the

Subsidiaries, Associates and Joint Ventures.

Pursuant to the provisions of Section 136 of the Companies Act, 2013, the audited standalone and consolidated financial statements of the Company, together with the audited financial statements of each of its subsidiaries, are available on the Company's website at www.jindalsaw.com.

These documents will also be available for inspection by the

Members during business hours at the Registered Office of the Company up to the date of the Annual General Meeting.

The policy for determining material subsidiaries may be accessed on the Company's website at the link: https:// jindalsaw.com/docs/POLICY-FOR-DETERMINING-MATERIAL-SUBSIDIARIES-10-2020.pdf.

14. CONSOLIDATED FINANCIAL STATEMENT

Audited annual consolidated financial statements forming part of the annual report have been prepared in accordance with Companies Act, 2013, Indian Accounting Standards

(Ind AS) 110– 'Consolidated Financial Statements' and

Indian Accounting Standards (Ind AS) 28 - Investments in Associates and Joint Ventures', notified under Section 133 of Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015 and as amended from time to time.

15. AUDITORS & THEIR REPORT STATUTORY AUDITORS

The Members of the Company had appointed Price Waterhouse Chartered Accountants LLP as Statutory

Auditors of the Company for a term of 5 (five) consecutive years to conduct the audit from FY 2021-22 to FY 2026-

27. The Price Waterhouse Chartered Accountant LLP have confirmed as

Auditors of the Company.

Auditors' remarks in their report read with the notes to accounts referred to by them are self-explanatory. There have been no fraud reported by the Statutory Auditors of the Company.

Company'ssubsidiaries, SECRETARIAL AUDITORS

As per the provisions of Regulation 24A of SEBI Listing Regulations, the members in their 40 th Annual General Meeting held on 12 th June, 2025 appointed M/s. S. K. Gupta

& Co., Company Secretaries, as Secretarial Auditors, to conduct Secretarial Audit of the Company for 5 consecutive financial year effective from the financial year 2025-26.

The Secretarial Audit Report for the financial 31st March, 2026 by the M/s S. K. Gupta & Co., Company

Secretaries, is annexed herewith marked as Annexure 2 to this Report.

EXPLANATIONS OR COMMENTS BY THE BOARD ON EVERY QUALIFICATION, RESERVATION OR ADVERSE REMARK OR DISCLAIMER MADE BY AUDITORS i. Auditors' Report:

There have been no fraud, qualification, reservation or adverse remark reported by the Statutory Auditors of the Company.

ii. Secretarial Auditor's Report:

There is no qualification, reservation or adverse remark reported by the Secretarial Auditors in their Report.

COST AUDIT

Pursuant to Section 148 of the Companies Act, 2013 read with rules made thereunder, the Board, has re-appointed M/s. R. J. Goel & Co., Cost Accountants (Registration No.

000026), to audit the Cost Accounts of the Company for the year ending 31 st March, 2027. Their remuneration is proposed to be ratified by Members at the ensuing annual general meeting.

The Cost Audit Report and other documents for the year ended 31st March 2025 were submitted with the Central Government by filing 12 th August, 2025.

16. DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under section 134 of the Companies Act, 2013 with respect to Directors' Responsibility Statement, it is hereby confirmed

a. that in the preparation of the annual accounts for the financial year ended 31 st March, 2026, the Indian Accounting Standards (Ind AS) have been followed along with proper explanation relating to material departures;

b. that they had selected such accounting policies and applied them consistently and made judgments and estimates that were 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 the profit period.

c. that they had taken proper and sufficient care for e consecutive years, constituting his 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. that they had prepared the accounts for the financial year ended 31 st March, 2026 on a 'going concern' basis. e. that they 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. that they had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

17. DIRECTORS AND KEY MANAGERIAL PERSONNEL

The Board of Directors of the Company comprises an appropriate mix of Executive and Non-Executive Directors, including Women Directors, possessing rich experience and expertise across diverse fields such as corporate finance, strategic management, accounts, legal, marketing, FormCRA-4videSRNAB5973716dated brand building, social initiatives, general management and strategy. Except for the Independent Directors, all other Directors are liable to retire by rotation in accordance with the provisions of the Companies Act, 2013.

In accordance with the provisions of the Companies Act,

2013 and the Articles of Association of the Company, Ms. Shraddha Prithvi Rj, Joint Managing Director (DIN: 00016940) and Shri Neeraj Kumar, Director (DIN: 01776688), retire by rotation at the ensuing Annual General Meeting and, being eligible, offer themselves for re-appointment.

The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has appointed

Shri Ashutosh Karnatak (DIN- 03267102) as an Additional

Director in the category of Independent Director of the Company with effect from 27 th April, 2026. In accordance with the provisions of Section 161 of the Companies Act,

2013, he shall hold office up to the date of the ensuing oftheCompanyfor theyearended on that

Annual General Meeting. The Board has recommended his appointment as an Independent Director of the Company foraperiodof term, with effect from 27 th April, 2026.

Further, Shri Prithavi Raj Jindal, Non-Executive Director of the Company, will be attaining the age of 75 years during the FY 2026-27. In terms of Regulation 17(1A) of the

SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, continuation of a Non-Executive Director who has attained the age of 75 years requires the approval of the shareholders by way of a Special Resolution. Accordingly, based on the recommendation of Nomination and Remuneration Committee, the Board of Directors of your Company proposes, the necessary resolution seeking approval of the Members for continuation of Shri Prithavi Raj

Jindal as a Director of the Company at the ensuing Annual General Meeting.

Further, in terms of Section 134(3)(q) of the Companies Act, 2013 read with Rule 8(5) of the Companies (Accounts) Rules, 2014, Abhiram Tayal (DIN: 00081453), who had completed his 2 nd term of five consecutive years as an Independent Director on 9 th July 2025, ceased to be an Independent

Director of the Company upon completion of his tenure.

Due to internal restructuring, Shri Neeraj Kumar step down from the position of Group CEO and Whole-time Director from 31st July, 2025 and continued to be associated with the Company as Non-Executive Director of the Company w.e.f. 01 st August, 2025.

POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION

The Nomination and Remuneration Committee selects the candidates to be appointed as the Director on the basis of the requirement and enhancing the competencies of the Board.

The current policy is to have a balance of Executive, Non-

Executive and Independent Directors to maintain the independence of the Board and to separate the functions of governance and management. The composition of

Board of Directors during the year ended 31 st March, 2026 is in conformity with Regulation 17 of the SEBI Listing

Regulations, 2015 read with Section 149 of the Companies Act, 2013.

The Company has policy, namely Nomination and Remuneration Policy, to govern directors' appointment, including criteria for determining qualifications, positive attributes, independence of a director, remuneration to the directors and other matters, as required under sub-section (3) of Section 178 of the Companies Act, 2013.

18. DECLARATION BY INDEPENDENT DIRECTORS

The Company has received the necessary declarations from all the Independent Directors confirming that they meet the criteria of independence as prescribed under Section

149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015.

19. STATEMENT REGARDING INTEGRITY, EXPERTISE AND EXPERIENCE OF INDEPENDENT DIRECTORS

In the opinion of the Board, the Independent Directors possess a clear sense of values and integrity and have the requisite expertise, experience and proficiency in their respective fields.

All the Independent Directors of the Company are registered with the Data Bank maintained by the Indian Institute of

Corporate Affairs. In terms of the provisions of Section 150 of the Companies Act, 2013 read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014, the Independent Directors of the Company are exempt from undertaking the online test conducted by the Indian Institute of Corporate Affairs, except those who were required to undertake such test and have successfully passed theonlineproficiency self-assessment test within the prescribed time

20. BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, the Board has carried out an annual evaluation of its own performance, the performance of its Committees and that of Individual Directors.

The performance evaluation of the Independent Directors was carried out by the entire Board, excluding the Director being evaluated. The performance evaluation of the

Chairperson and Non-Independent Directors was carried out by the Independent Directors at their separate meeting. The evaluation process considered various aspects including the composition of the Board, experience and competencies of Directors, governance practices and the contribution of Directors towards the strategic direction and effective functioning of the Company.

In accordance with the provisions of Section 178(1) of the

Companies Act, 2013 and the SEBI Listing Regulations, the

Company has adopted a Policy for Performance Evaluation of Independent Directors, the Board, its Committees and other Directors, which also lays down the criteria for evaluation of Executive and Non-Executive Directors. Based on the said Policy, the Board carried out the evaluation of its performance, the performance of its Committees and individual Directors. The details of the evaluation process have been provided in the Report on Corporate Governance, forming part of this Annual Report. The Policy is available on the Company's website and may be accessed at: https:// jindalsaw.com/docs/POLICY-REMUNERATION-POLICY-OF-JINDAL-SAW.pdf

Further, the Company has put in place a Familiarisation Programme for Independent Directors to familiarise them with their roles, rights and responsibilities in the Company, the nature of the industry in which the Company operates, the business model of the Company and related matters. The details of such familiarisation programmes are available on the Company's website at: https://jindalsaw.com/investor-relations/compliances/?tax=compliances&term=familiarisa tion-programme-for-independent-directors.

21. CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of corporate governance and adherence to the corporate governance requirement set out by SEBI Listing Regulations. The report on Corporate Governance as stipulated under the SEBI Listing Regulations forms an integral part of this Report. The requisite certificate from the Secretarial Auditors of the Company confirming compliance with the conditions of corporate governance is attached with the report on Corporate Governance.

22. CREDIT RATING

The credit ratings obtained by the Company during the year under review are as under:

23. CONTRACTS AND ARRANGEMENT WITH RELATED PARTIES

Regulation 23(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 provides that all material related party transactions ("Material RPTs") shall require prior approval of the shareholders of the Company by way of a resolution. The determination of a Material RPT is based on the scale-based thresholds prescribed under

Schedule XII of the said Regulations, which are linked to the annual consolidated turnover of the Company. Accordingly, any related party transaction, whether entered into individually or taken together with previous transactions during a financial year, exceeding the applicable threshold shall be treated as a Material RPT and shall require prior shareholder approval, irrespective of whether such transaction is in the ordinary course of business or at arm's length basis. During the year under review, the Company has entered into material related party transactions with JSW Steel Limited and Jindal Steel Limited.

All Related Party Transactions entered into during the financial year were in the ordinary course of business and on an arm's length basis. Accordingly, the disclosure of Related

Party Transactions in Form AOC-2 in terms of Section 188 of the Companies Act, 2013 read with the Companies

(Accounts) Rules, 2014 is not applicable.

All Related Party Transactions are placed before the Audit Committee for its prior approval in compliance with

Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and a statement of all such transactions is also submitted to the Audit Committee on a quarterly basis for its review.

The related party transaction policy of the company can be accessed on the Company's website at the link: https:// jindalsaw.com/docs/Policy-on-RPTs_Jindal-Saw-Ltd-final-2026.pdf.

The details of transactions with related parties as required under Indian Accounting Standard (Ind AS) 24 are provided in the Notes to the Financial Statements forming part of this Annual Report.

24. CORPORATE SOCIAL RESPONSIBILTY (CSR)

The objective of the Company's Corporate Social

Responsibility (CSR) initiatives is to improve the quality of life of communities through long-term value creation for all stakeholders. The Company has formulated a CSR Policy which provides guidelines for undertaking CSR activities. The salient features of the Policy form part of the Annual Report on CSR Activities annexed to this Board's Report. The CSR Policy is available on the Company's website at: https://jindalsaw.com/docs/CSR-Policy-2021.pdf.

The key philosophy of all CSR initiatives of the Company is driven by its core value of inclusion. Pursuant to the CSR Policy, various CSR initiatives were approved by the CSR Committee, which were undertaken by the Company during the year.

During the financial year 2025 26, obligation was ` 3,426.89 lakh. After considering the buffer of excess amount of ` 118.48 lakh available for set-off from the previousfinancialyear, the net CSR liability for FY 2025 26 stood at ` 3,308.40 lakh. During the year, the Company spent ` 3,338.63 lakh on CSR activities. which resulted into an amount of ` 30.23 lakh excess spent on above activities.

Out of current year's expenditure, ` 2,022.20 Lakh related to ongoing CSR projects, which was deposited in the separate bank account. The expenditure related to ongoing projects will be incurred over the next threefinancialyears in accordance with the provisions of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014.

Further, as per the provisions of Section 135 of Companies Act, 2013 read with Rule 7 of Companies (Corporate Social

Responsibility Policy) Rules, 2014, the Board of Directors in their meeting held on 27 th April, 2026 approved the excess spent amount of ` 30.23 Lakh spent of CSR activities during FY 2025-26 to be set off against the requirement of amount to be spent under Section 135(5) of the Companies Act, 2013 for a period of immediately three succeeding financial years.

A report on CSR activities is annexed herewith as Annexure 1.

25. RISK MANAGEMENT

The Company has a Risk Management Committee which has been entrusted with the responsibility to assist the Board in (a) overseeing and approving the Company's enterprise wide risk management framework; and (b) identifying and assessing that all the risks that the organization faces such as strategic, financial, credit, market, liquidity, security, property, IT, legal, regulatory, reputational and other risks and to ensure that there is an adequate risk management infrastructure in place capable of addressing those risks. The Risk Management Policy was reviewed and approved by the Committee.

The Company manages, monitors and reports on the principal risks and uncertainties that can impact its ability to achieve its strategic objectives. The Company's management systems, organisational structures, processes, standards, code of conduct and behaviours together form the Management System that governs how the Company conducts the business and manages the Company's CSR associated risks.

26. INTERNAL CONTROL AND INTERNAL AUDIT SYSTEM AND THEIR ADEQUACY

The Company has adequate Internal Financial Controls with reference to financial statements, size, scale and complexity of its operations. The Company has established a robust internal control framework to ensure orderly and efficient conduct of its business, including adherence to the Company's policies, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of accounting records and timely preparation of reliable financial information.

The Internal Audit function periodically evaluates the adequacy and effectiveness of internal controls and compliance with the policies and procedures of the Company. The Audit Committee regularly reviews the internal audit findings and the adequacy of internal control systems.

For more details, refer to the "Internal Control and Internal Audit System and Their Adequacy" section in Management Discussions and Analysis Report, which forms part of this Annual Report.

27. COST RECORD

The Cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013, are prepared, maintained and the same are audited by the Cost Auditor.

28. SECRETARIAL STANDARDS

The Company has complied with the applicable Secretarial

Standards, namely SS-1 (Meetings of the Board of Directors), SS-2 (General Meetings), SS-3 (Dividend) and SS-4 (Report of the Board of Directors), issued by the Institute of Company Secretaries of India.

29. DISCLOSURE

MEETINGS OF THE BOARD

During the year under review, the Board of Director of the

Company met 5 (Five) times on 2nd May, 2025, 9 th June, 2025, 5th August, 2025, 17th October, 2025, and 16 th January, 2026. The composition of Board of Directors during the year ended March 31, 2026 is in conformity with Regulation

17 of the SEBI Listing Regulations read with Section 149 of the Companies Act, 2013. For further details, please refer

Report on Corporate Governance attached to this Annual Report.

INDEPENDENT DIRECTORS

During the year under review, the Independent Directors of the Company met once on 1 st May, 2025. For further details, please refer Report on Corporate Governance attached to this Annual Report.

AUDIT COMMITTEE

As on 31 st March, 2026 the Audit Committee comprised of 4 Independent Directors as its Members. The Chairperson of the Committee is an Independent Director. The Members possess adequate knowledge of accounts, audit, finance, etc. The composition of the Audit Committee is in conformity with requirements as per the Section 177 of the Companies

Act, 2013 and Regulation 18 of the SEBI Listing Regulations.

During the year ended 31 st March, 2026, the Committee met 6 (Six) times on 8 th April, 2025, 2nd May, 2025, 9 th June,

2025, 5th August, 2025, 17th October, 2025, and 16 th January, 2026. For further details, please refer Report on Corporate Governance attached to this Annual Report.

NOMINATION AND REMUNERATION COMMITTEE

As on 31 st March, 2026, the Nomination and Remuneration

Committee comprised of 3 Independent Directors. The

Chairperson of the Committee is an Independent Director. The Composition of the Nomination and Remuneration Committee is in conformity with requirements of section

178 the Companies Act, 2013 and SEBI Listing Regulations.

During the year ended 31 st March, 2026 the Committee met twice on 1 st May, 2025 and 5th August, 2025. For further details, please refer Report on Corporate Governance attached to this Annual Report.

STAKEHOLDERS RELATIONSHIP COMMITTEE

As on 31 st March 2026, the Stakeholders Relationship

Committee comprised of 3 Independent Director and 1

Executive Director. The Chairperson of the Committee is an Independent Director. The Composition of the Stakeholders Relationship Committee is in conformity with the requirements of the Companies Act, 2013 and SEBI Listing

Regulations.

During the year ended 31 st March, 2026 the Committee met once on 4 th February, 2026. For further details, please refer Report on Corporate Governance attached to this Annual Report.

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE (CSR COMMITTEE)

As on 31 st March, 2026, the CSR Committee comprised of 3 Independent Directors and 1 Executive Director. The

Chairperson of the Committee is an Independent Director. The Composition of the CSR Committee is in conformity with requirements of the Companies Act, 2013.

During the year ended 31 st March, 2026 the Committee met twice on 4 th February, 2026 and 23 rd March, 2026. For further details, please refer Report on Corporate Governance attached to this Annual Report.

RISK MANAGEMENT COMMITTEE

As on 31 st March, 2026, the Risk Management Committee comprised of 2 Independent Directors, 1 Executive Director and 2 non board members. The Chairperson of the Committee is Independent Director. The Composition of the Risk Management Committee is in conformity with requirements of the SEBI Listing Regulations.

During the year ended 31 st March, 2026 the Committee met twice on 8 th October, 2025 and 23 rd March, 2026. For further details, please refer Report on Corporate Governance attached to this Annual Report.

VIGIL MECHANISM

The Vigil Mechanism of the Company, which also incorporates a Whistle Blower Policy in terms section 177(9) of Companies Act, 2013 and Regulation 22 of the SEBI

Listing Regulations. As per the said Policy the protected disclosures can be made by a whistle blower through an e-mail, or a letter to the Compliance Officer or Managing

Director or to the Chairperson of the Audit Committee.

No complaint was received during the year nor was pending at the end of the year.

The Policy on vigil mechanism and whistle blower may be accessed on the Company's website at the link: https:// jindalsaw.com/docs/Vigil-mechanism-Policy-new.pdf

PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED

The particulars of loans given, guarantees provided and investments made during the financial year under review, as covered under the provisions of Section 186 of the

Companies Act, 2013, are disclosed in the notes to the standalone financial statements, forming part of this

Report.

PARTICULARS REGARDING CONSERVATION OF ENERGY, ETC.

Information pursuant to the provision of Section 134 of Companies Act, 2013 read with the rule 8 of Companies

(Accounts) Rules, 2014 regarding conservation of energy, technology absorption and foreign exchange earnings and outgo are given is annexed hereto as Annexure 3.

ANNUAL RETURN

As per the provisions of section 134 (3) (a) the Annual Return of the Company for the Financial Year 2025-26 may be accessed under investor relation tab on the Company's website at the link https://jindalsaw.com/investor- relations/financial- reporting/?tax=financial&term=annual- return#reports.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

In terms of the provisions of Section 197(12) of the Act read with rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a statement showing the names and other particulars of the employees drawing remuneration in excess of the limits set out in the said Rules are provided as Annexure 4.

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Act read with rule

5(1) of the Companies (Appointment and Remuneration of

Managerial Personnel) Rules, 2014 are provided as Annexure

5.

BUSINESS RESPONSIBILITY SUSTAINABILITY REPORT

As per Regulation 34(f) of SEBI Listing Regulations, the

Annual Report shall contain business responsibility and sustainability report (BRSR) describing the initiatives taken by the Company from environmental, social and governance perspective. Having regard to the green initiative, the BRSR is made available on the Company's website at https:// jindalsaw.com/investor-relations/compliances/?tax=comp liances&term=business-responsibility-and-sustainability-report.

THE DETAILS OF APPLICATION MADE /PROCEEDING

PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016

The Company has not made any application during the year and no proceeding is pending under Insolvency & Bankruptcy Code, 2016 (IBC).

THE DETAILS OF ONE TIME SETTLEMENT/VALUATION

WITH BANK OR FINANCIAL INSTITUTION

No one-time settlement/valuation was done while taking loan from the Bank or Financial Institution.

DISCLOSURE UNDER MATERNITY BENEFIT ACT, 1961

The Company is committed to providing a safe, inclusive and supportive work environment for all employees, including women employees. The Company complies with the provisions of the Maternity Benefit Act, 1961 and the rules framed thereunder, as amended from time to time.

Further, in accordance with the provisions of the said Act, the Company provides maternity leave and other related benefits to its eligible women employees. The Company also ensures that the rights and benefits of during maternity are protected, and that appropriate facilities and support are provided in compliance with the applicable statutory requirements.

30. ANY SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE

During the financial year there was no such significant material orders passed by the regulators or courts or tribunals impacting the going concern status and Company's operations in future.

Further, no application made or any proceedings were pending against the Company under Insolvency and Bankruptcy Code, 2016 during the year under review.

31. THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has a policy for prevention of sexual harassment of women at workplace and also complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,

2013.

The Company as an equal employment opportunity provides and is committed to creating a healthy working environment that enables employees to work without fear of prejudice, gender bias and sexual harassment. The Company also believes that all employees of the Company have the right to be treated with dignity. Sexual harassment at the work place or other than work place, if involving employees, is a grave offence and is, therefore, punishable.

Number of complaints received and resolved in relation to Sexual Harassment of Women at Workplace (Prevention,

Protection, and Redressal) Act, 2013: during the year under review and their breakup is as under:

a) No. of Complaints filed during the year: NIL

b) No. of Complaints disposed of during the year: NIL

c) No. of Complaints pending at end of year: NIL employees

32. ACKNOWLEDGEMENT

Your Directors express their grateful appreciation to concerned Departments of Central / State Governments,

Financial Institutions & Bankers, Customers and Vendors for their continued assistance and co-operation. The

Directors also wish to place on record their deep sense of appreciation for the committed services of the employees at all levels. They are also grateful for the confidence and faith that you have reposed in the Company as its member.