The Board of Directors of Rishabh Instruments Limited, at its meeting held on May 18, 2026, approved the re-designation of Mr. Dineshkumar Musalekar from Whole-Time Director to Managing Director of the Company. The change is subject to the approval of shareholders at the ensuing Annual General Meeting (AGM). The announcement was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Re-designation

The re-designation is aimed at streamlining organizational leadership and enhancing focus on strategic initiatives. The transition is intended to enable a more concentrated approach to overseeing day-to-day operations while ensuring continued alignment with long-term objectives. The following table summarizes the key terms of the appointment:

Remuneration Structure

The remuneration package for Mr. Musalekar is structured across multiple entities and currencies, as detailed below:

Profile of Mr. Dineshkumar Musalekar

Mr. Dineshkumar Musalekar is a distinguished business leader with three decades of diverse work experience across operations, projects, business development, product development, manufacturing, and technology. He has worked across diverse business cultures and environments spanning Asian, Chinese, Japanese, European, American, African, and Arab markets. He has successfully managed start-ups, is a turnaround specialist, and is accomplished in Mergers, Acquisitions, and Demergers.

He holds a graduate degree in Electronics and Communications Engineering, an MBA in Human Resource Management, and has completed the Executive Development Programme from Henley University, Oxford, UK. Since 2013, he has served as President and CEO of Lumel S.A. and Lumel Alucast Sp. Z.o.o. He also serves as a Board Member of Saran, a Real Estate Company, a Supervisory Board Member of Lumel Śląsk Company, and on the Advisory Board of Sifam Tinsley USA.

Prior to these roles, Mr. Musalekar had a career spanning a decade at OTIS (UTC Group, Fortune 500 Company), where he progressed from Graduate Engineer Trainee to Manager of the Modernisation Department in India. He subsequently spent another decade with Avire (HALMA Group, FTSE 100) as Resident Director for PAN India and General Manager for India, Middle East, and Africa.

Awards and Recognition

Mr. Musalekar has received several notable recognitions throughout his career:

• Gold Medal — the highest civilian award from the Mayor of Zielona Gora City in Poland, for his contribution to transforming and growing Lumel and benefiting the City
• The Indian Achievers Award for "Business Leadership" from the Indian Achievers Forum
• Personality of the Year 2020 award in the Business category in Zielona Góra City from Polska Press Grupa

Compliance and Disclosures

There is no inter-se relationship between Mr. Dineshkumar Musalekar and other directors of the Company. Additionally, Mr. Musalekar is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority, in accordance with the requirements under Circular No. LIST/COMP/14/2018-19 and NSE/CML/2018/02 dated June 20, 2018, issued by BSE and NSE respectively. The announcement was signed by Ajinkya Joglekar, Company Secretary and Compliance Officer (ICSI Membership No.: A57272).

Rishabh Instruments has announced its audited financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the results at its meeting held on May 18, 2026, alongside the recommendation of a final dividend of INR 2.00 per equity share and the appointment of statutory auditors for the upcoming fiscal year. The statutory auditors, MSKA & Associates LLP, issued an unmodified opinion on both the standalone and consolidated financial results. Managing Director & Group CEO Mr. Dineshkumar Musalekar described FY26 as "a year of strong execution and meaningful strategic progress," noting that profitability has more than doubled compared to the previous year.

Financial Performance Overview

For the financial year ended March 31, 2026, Rishabh Instruments reported a consolidated net profit of INR 822.59 million, a substantial increase from INR 209.73 million in the previous year, reflecting a growth of 292%. Consolidated total income for the year rose to INR 7,958.43 million from INR 7,348.71 million. On a standalone basis, net profit for the year stood at INR 416.66 million compared to INR 233.75 million in the corresponding period, while standalone total income grew to INR 2,810.14 million from INR 2,491.16 million. Consolidated adjusted EBITDA for FY26 stood at INR 1,363 million against INR 640 million in FY25, a growth of 113.1%, while reported consolidated EBITDA grew 161.1% to INR 1,264 million from INR 484 million, with the reported EBITDA margin expanding to 16.3% from 6.7%.

The following table summarizes the audited annual financial results:

Quarterly Performance

In the quarter ended March 31, 2026, consolidated revenue from operations stood at INR 2,048.63 million compared to INR 1,874.50 million in the same quarter of the previous year, a growth of 9.3% YoY. Consolidated net profit for the quarter was INR 200.34 million against INR 61.09 million in the year-ago quarter, a growth of 229.5%. Consolidated reported EBITDA for Q4 came in at INR 333 million, growing 105.9% from INR 162 million in the same quarter last year, with the reported EBITDA margin expanding to 16.2% from 8.6% year-on-year. Consolidated adjusted EBITDA for Q4 stood at INR 355 million, up 41.3% YoY, with an adjusted EBITDA margin of 17.3%. On a standalone basis, quarterly net profit reached INR 107.42 million against INR 88.60 million in the year-ago quarter, with standalone revenue from operations at INR 787.78 million, up 15.2% YoY.

Segment and Geographical Performance

The Electrical and Electronic Instruments (EEI) segment was the primary growth engine for the group, delivering revenue growth of 17.5% YoY in FY26. The Group's operations span three geographical segments, with Europe remaining the largest contributor to consolidated revenue from operations for the year ended March 31, 2026, followed by Asia and Other regions.

Key Business Developments

Lumel SA, the Group's subsidiary, secured two significant contracts in the energy sector. The first contract, valued at €5 million (Rs 50 Crores), covers the supply of advanced electronic devices supporting industrial automation initiatives within the energy industry for a leading Germany-based company, valid through the end of 2026 with potential for extension. The second contract, valued at €3 million (₹30 Crores), also covers the supply of advanced electronic devices for industrial automation applications in the energy sector, valid through the end of 2027. This marks the second order from the same customer, reflecting continued confidence in Lumel SA's capabilities. On the recognition front, Lumel SA received three prestigious awards, including the Forbes Diamonds 2025 ranking and the 'Gazele Biznesu 2025' title by Puls Biznesu, awarded consecutively in 2024 and 2025 for dynamic growth. Additionally, Rishabh Instruments along with Lumel received the Sardar Patel Unity Award 2025 for Excellence in Sustainable Materials for Energy Efficiency.

Operational Highlights

Capacity utilisation across all manufacturing facilities stood at 62.0% as of March 31, 2026, up from 56.1% as of March 31, 2025. The company operates five manufacturing units across India, Poland, and China, with two modification centres in the UK and the US. Construction is near completion at the Nashik facility, which is set to double its built-up area with the addition of two new buildings—one five-storied and another seven-storied—to be equipped with advanced SMT lines, moulding machines, and related machinery. At Lumel Alucast, a 1.5 MW solar rooftop is now operational. The company's in-house R&D team has developed next-generation solar inverters, including single-phase invertors UNO ranging from 2.5KW to 6KW and the "NEO RADIUS" series in three phases ranging from 3KW to 20KW, with the solar inverter business targeted to become an INR 1,000 million business in the next 3-4 years.

Balance Sheet Highlights

On a consolidated basis, total assets stood at INR 10,027.64 million as at March 31, 2026, compared to INR 8,880.03 million in the previous year. Total equity increased to INR 7,490.73 million from INR 6,140.39 million. On a standalone basis, total assets were INR 5,062.93 million against INR 4,497.85 million, with total equity at INR 4,596.35 million compared to INR 4,087.38 million.

Cash Flow Summary

For the year ended March 31, 2026, consolidated net cash flow from operating activities was INR 1,084.82 million, up from INR 649.54 million in the previous year. Net cash used in investing activities was INR 1,168.18 million, primarily on account of capital expenditure of INR 1,103.89 million. Net cash used in financing activities was INR 282.40 million. On a standalone basis, net cash inflow from operating activities was INR 581.00 million compared to INR 373.04 million in the prior year.

Dividend Declaration

The Board has recommended a final dividend of INR 2.00 (INR Two only) per equity share having a face value of INR 10 each for the financial year ended March 31, 2026, representing a payout of 20%. This dividend is subject to the approval of members at the ensuing 43rd Annual General Meeting of the Company. The final dividend, if declared, will be paid within the statutory period of 30 days from the date of approval at the AGM. The Book Closure and Record Date for determining eligibility will be communicated to the stock exchanges separately.

Restatement of Prior Period Figures

The consolidated financial results for the year ended March 31, 2025 have been restated following the completion of Purchase Price Allocation for the acquisition of MICROSYS, spol. s.r.o by the Group's step-down subsidiary Lumel S.A. Sp. Z.O.O. The acquisition was made through a share purchase agreement dated August 06, 2024 for a consideration of EURO 13,48,837. The restatement resulted in an adjustment to consolidated profit after tax for the year ended March 31, 2025, revised to INR 209.73 million from INR 212.09 million as previously reported, and basic EPS restated to Rs. 5.86 from Rs. 5.92.

Auditor Appointments

The Board appointed M/s. Rajendra P. Shah & Co., Chartered Accountants, Nashik, as Internal Auditors of the Company for FY 2026-27. Mr. Hareesh Shetty, Cost Accountant, Nashik, was appointed as Cost Auditor for the same period. Both appointments were made at the Board Meeting held on May 18, 2026.