KSB Limited held its 66th Annual General Meeting (AGM) on May 20, 2026, via video conferencing. The meeting commenced at 1:30 p.m. IST and concluded at 2:16 p.m. IST. During the proceedings, the members approved the audited standalone and consolidated financial statements for the financial year ended December 31, 2025, along with the reports of the Board of Directors and the Auditors.

Financial Performance Highlights

Addressing the shareholders, the Chairman highlighted the company's resilient performance during the 2025 financial year despite global challenges. Revenue from operations rose to INR 26,957 Million from INR 25,331 Million in the previous year. The company reported an improvement in EBITDA to INR 3,873 Million, achieving a margin of approximately 14%.

Operational and Strategic Updates

Order intake for the year stood at INR 29,920 Million, driven by growth across segments such as Energy, Water-Waste Water, and Commercial Building Services. The export business achieved a new milestone, contributing 17% of the total order intake. Key export orders included SICCA valves for a Chemical Park Expansion Project in Poland and orders for Submersible Pumps to Sub-Saharan Africa.

In the Energy sector, the company secured a landmark order for boiler feed pump packages for a supercritical power project. Revenues in the Solar segment reached INR 2,450 Million, supported by government initiatives and expansion into newer states. The company also developed in-house manufacturing capabilities for solar controllers.

Board and Auditor Appointments

The AGM approved the re-appointment of Mr. Rajeev Jain as Managing Director for a term of five years effective from July 1, 2026. Following the resignation of M/s Price Waterhouse Chartered Accountants LLP, the shareholders appointed M/s B S R & Co. LLP, Chartered Accountants, as the new Statutory Auditors to fill the casual vacancy and fix their remuneration.

Dividend Declaration

The Board recommended a dividend of 220%, which translates to INR 4.40 per share for the financial year 2025. This proposal was approved by the shareholders, reflecting the company's commitment to delivering value. The voting results for the resolutions were declared on the company's website on May 22, 2026.

KSB Limited has issued an addendum to the notice of its 66th Annual General Meeting (AGM), scheduled to be held on Wednesday, 20th May, 2026 at 01.30 p.m. IST through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The addendum, dated 30th April, 2026, introduces two additional business items — Business No. 6 and Business No. 7 — both dealing with the appointment of M/s B S R & Co. LLP, Chartered Accountants (Firm Registration No. 101248W/W-100022) as the company's Statutory Auditors. All other items of the original AGM Notice dated 25th February, 2026 remain unchanged.

Background: Change in Statutory Auditors

The members of the company had re-appointed M/s Price Waterhouse Chartered Accountants LLP (Firm Registration No. 012754N/N500016) as Statutory Auditors at the 62nd Annual General Meeting held on 11th May, 2022, for a term of five years from the conclusion of the 62nd AGM until the conclusion of the 67th AGM. However, to align statutory auditors across various entities within the KSB Group, the company has proposed a change in its statutory auditor. M/s Price Waterhouse Chartered Accountants LLP resigned vide their letter dated 30th April, 2026, effective from the same date, post signing of the Limited Review Report for the quarter ended 31st March, 2026. The outgoing auditors have not raised any concerns or issues, and no other reason has been cited for their resignation.

Details of the Two New Business Items

The addendum introduces two resolutions for shareholder approval, as summarised below:

The Board of Directors, on the recommendation of the Audit Committee, approved the appointment of M/s B S R & Co. LLP at its meeting held on 30th April, 2026, subject to the approval of the members at the AGM.

Proposed Remuneration and Terms

The following table outlines the key terms and remuneration details for the proposed statutory auditor appointment:

The Board of Directors, on the recommendation of the Audit Committee, is authorised to approve revisions to the remuneration of the Statutory Auditors for the remaining part of the term of appointment.

Credentials of M/s B S R & Co. LLP

The Audit Committee and the Board of Directors considered the credentials and track record of the proposed auditor while making their recommendation. Key highlights of M/s B S R & Co. LLP include:

• Constituted in March 1990 as a partnership firm and converted into a limited liability partnership in October 2013
• Member entity of B S R & Affiliates, a network registered with the Institute of Chartered Accountants of India
• Over 4000 staff and 170+ Partners, with offices across 14 locations
• Audits various companies listed on stock exchanges in India, including companies in the industrial manufacturing sector

M/s B S R & Co. LLP has provided their Eligibility and Consent Letter and confirmed that the appointment, if made, will be in accordance with the conditions prescribed under the Companies Act, 2013 and other applicable rules and regulations. None of the Directors and Key Managerial Personnel of the company, including their relatives, are concerned or interested in the said resolutions.

AGM Proceedings and Availability of Addendum

The addendum, along with the original AGM notice, has been uploaded on the company's website at www.ksbindia.co.in . All processes, notes, and instructions relating to attending the AGM through VC/OAVM and e-voting applicable to the 66th AGM shall also apply to the additional resolutions proposed in this addendum. The Scrutinizers appointed for the 66th AGM will act as Scrutinizers for the additional resolutions as well. The addendum was issued by Company Secretary Shraddha Kavathekar on 12th May, 2026, under the authority of Chairman Gaurav Swarup.