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.

KSB Limited has announced its unaudited financial results for the quarter ended March 31, 2026, in compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors approved the results at a meeting held on April 30, 2026, which commenced at 12.00 p.m. and concluded at 2.45 p.m. IST. The financial statements have been prepared in accordance with Indian Accounting Standard 34 "Interim Financial Reporting" and subjected to a limited review by statutory auditors Price Waterhouse Chartered Accountants LLP. Alongside the financial results, the company also issued a press release under Regulation 30 on May 05, 2026, highlighting key business developments and order wins during the quarter.

Standalone Financial Performance

On a standalone basis, KSB Limited reported revenue from operations of INR 6,013 million for the quarter ended March 31, 2026, compared to INR 7,840 million in the preceding quarter ended December 31, 2025, and INR 5,954 million in the corresponding quarter of the previous year. Total income stood at INR 6,156 million, while total expenses amounted to INR 5,656 million. The company recorded a profit before tax of INR 500 million and profit for the period of INR 373 million. Basic and diluted earnings per share (EPS) were reported at INR 2.14 for the quarter.

Business Highlights (INR Crores)

The press release provides a summary of business performance in INR Crores, offering a comparative view across quarters and the full year. Sales for Q1 2026 stood at INR 601.30 crores, marginally higher than INR 595.40 crores in Q1 2025, though lower than INR 784.00 crores in Q4 2025. Profit before tax for the quarter was INR 50.00 crores, compared to INR 65.50 crores in Q1 2025 and INR 104.10 crores in Q4 2025.

Consolidated Financial Results

The consolidated unaudited financial results include the performance of KSB Limited, its subsidiary Pofran Sales and Agency Limited, and its associate KSB MIL Controls Limited. Revenue from operations remained at INR 6,013 million, with total income of INR 6,157 million. The profit for the period on a consolidated basis was INR 398 million, with basic and diluted EPS of INR 2.28. The consolidated results incorporate the Group's share of net profit after tax of INR 32 million from the associate company for the quarter.

Segment-wise Performance

The company operates through two primary business segments: Pumps and Valves. For the quarter ended March 31, 2026, the Pumps segment generated revenue of INR 4,995 million, while the Valves segment contributed INR 1,025 million. The Pumps segment reported segment results of INR 393 million, and the Valves segment recorded INR 84 million. Total segment assets stood at INR 28,388 million, with segment liabilities of INR 11,211 million as of March 31, 2026.

Key Order Wins and Business Developments

The quarter saw KSB Limited secure significant orders across multiple sectors, reinforcing its competitive positioning in both domestic and export markets. The company received an order for a Gas Separation Unit from Kazakhstan, marking a notable export win in the petrochemical segment. On the domestic front, orders were received from Nabinagar and Gadawara 800 MW power plants for NTPC, along with a key order for an IOCL Gujarat project. In the nuclear segment, dispatch of 11 pumps was completed for the Kudankulam Nuclear Project. The company also secured Delhi Metro Rail Corporation (DMRC) approval for HVAC pumps, strengthening its presence in metro rail applications. Additionally, the Test Lab at the Sinnar plant received NABL and BIS accreditation, enhancing the company's testing capabilities. Strong year-on-year order intake growth was recorded in Agriculture, Domestic Pumps, Commercial Building Services, and Wastewater segments.

Management Commentary

Summarizing the Q1 2026 business performance, Mr. Prashant Kumar, Vice President - Sales and Marketing, KSB Limited, said, "FY2026 has started in a challenging environment, but our strong presence in key markets demonstrates the strength of our positioning. Demand across water and wastewater, energy and commercial building segments and our standard businesses continues to affirm our relevance in core segments. Recent order wins in water and wastewater, mining, petrochemicals and power showcase our competitive edge. With a diversified portfolio and a solid standard business base, we are geared up to face uncertainties and capture new opportunities, driving growth in the periods ahead."

Mr. Mahesh Bhave, Chief Financial Officer at KSB Limited, commented: "Despite a challenging geopolitical and macroeconomic environment, the Company delivered a stable and steady performance in Q1 FY26. Strong operational efficiency and financial discipline supported resilience and consistency during the quarter."

Auditor Change and Board Decisions

The Board took note of the resignation of Price Waterhouse Chartered Accountants LLP, Pune (FRN: 012754N/N500016) vide letter dated April 30, 2026, and noted that no concerns were raised by the auditor. The resignation follows the management's request to appoint auditors affiliated with the intermediate holding company outside India. Based on the Audit Committee's recommendation and subject to members' approval, the Board approved the appointment of B S R & Co. LLP, Chartered Accountants (FRN: 101248W/W-100022) as Statutory Auditors to fill the casual vacancy until the ensuing General Meeting and recommended their appointment for a term of five years from the conclusion of the 66th Annual General Meeting till the conclusion of the 71st Annual General Meeting. The AGM is scheduled for May 20, 2026.

Notes and Disclosures

The company noted that during the year ended December 31, 2025, it had recognised an exceptional item of INR 255 million as "Impact of new labour codes" following the Government of India's notification of four Labour Codes consolidating 29 existing labour laws. This incremental impact, primarily related to changes in the definition of wages, was assessed based on guidance from the Institute of Chartered Accountants of India. The company continues to monitor the finalisation of Central and State rules and related clarifications issued by the Government. The results have been reviewed by the Audit Committee and approved by the Board of Directors.