MPS Limited has announced significant changes to its board committee structure, with the Board of Directors approving the re-constitution of three key committees on 31 March 2026. The restructuring, disclosed under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, involves strategic appointments across the Stakeholders' Relationship Committee, Risk Management Committee, and Corporate Social Responsibility Committee.

Key Appointments and Changes

The re-constitution involves three major appointments that strengthen the company's governance framework. Mr. Suhas Khullar (DIN: 07593659) has been appointed as both Chairperson and Member of the Stakeholders' Relationship Committee, bringing independent oversight to shareholder relations. Additionally, Mr. Karthik Bhat Khandige (DIN: 06730563) joins the Risk Management Committee as a member, while Ms. Jayantika Dave (DIN: 01585850) has been appointed to the Corporate Social Responsibility Committee.

Revised Committee Compositions

The restructured committees reflect a balanced approach to corporate governance, combining executive leadership with independent oversight.

Stakeholders' Relationship Committee

Risk Management Committee

Corporate Social Responsibility Committee

Regulatory Compliance and Transparency

The committee restructuring demonstrates MPS Limited's commitment to maintaining robust corporate governance standards. All changes take effect from 31 March 2026, ensuring continuity in committee operations while introducing fresh perspectives to key oversight functions. The company has made the revised committee compositions available on its website under the Investors section, maintaining transparency with stakeholders.

The appointments strengthen the company's governance framework by ensuring appropriate representation of independent directors across critical committees. This structure supports effective oversight of stakeholder relations, risk management, and corporate social responsibility initiatives while maintaining compliance with regulatory requirements.

MPS Limited has disclosed receiving an assessment order from the Income Tax Department under Section 143(3) of the Income-tax Act, 1961, for Assessment Year 2024-25. The company made this disclosure on 27 March 2026 in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Assessment Details and Tax Demand

The Income Tax Department's Assessment Unit issued the assessment order and accompanying demand notice dated 23 March 2026, which the company received on 24 March 2026. Following scrutiny proceedings, the returned income was assessed at a higher amount, resulting in a significant tax demand.

Reasons for Assessment Variations

The variations in assessed income primarily arise from specific areas of disagreement between the company and tax authorities. The assessment order includes certain additions and disallowances based on differences in interpretation of particular transactions and outstanding balances.

Key areas of variation include:

• Differences in interpretation of specific transactions relating to withholding tax
• Outstanding creditor balances treatment
• These adjustments led to variation in assessed income and consequent demand

Company's Response and Expected Impact

MPS Limited has conducted a detailed internal evaluation of the assessment order and accompanying demand notice. The company believes it has strong factual grounds regarding the matters raised in the assessment and is preparing its legal response.

Compliance and Disclosure

The company acknowledged that the disclosure was made subsequent to detailed internal evaluation, with the delay being inadvertent and unintentional. MPS Limited has assured that appropriate measures have been instituted to ensure timely disclosures going forward. The company remains committed to maintaining highest standards of corporate governance and compliance with all applicable laws and regulations.

The disclosure was made in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated 30 January 2026, with Company Secretary & Compliance Officer Raman Sapra confirming the accuracy and completeness of the information provided.