Punjab Communications Ltd

Appointment: Jaspreet Singh as MD

• Appointment of Jaspreet Singh, IAS as Managing Director effective 23 Sept 2026.
• Reason: Nominated by Punjab Infotech; Board approval at 241st meeting on 15 Oct 2026.
• Profile: 2014 IAS; Director, Industries & Commerce, Punjab; MD Punjab Infotech.
• Relation: Nominated by holding company; related to other directors appointed by the Holding Company.
• Compliance: Appointee not debarred by SEBI order.

Cessation: Harsuhinder Pal Singh Brar as MD

• Cessation: Harsuhinder Pal Singh Brar, IAS ceases as Managing Director.
• Reason: Withdrawn by Punjab Infotech (holding company).
• Impact: MD role now held by Jaspreet Singh; Brar ceased.
• Effective date: 23 Sept 2026.

Change in Management

• Dr. Basant Garg, IAS appointed Director-cum-Chairman, effective 01 Oct 2026, replacing Gurkirat Kirpal Singh.
• Nominated by Punjab Infotech, holding company, to join the Board.
• Board approved the appointment by circulation on 12 Oct 2026.
• Gurkirat Kirpal Singh ceased as Director-cum-Chairman with effect 01 Oct 2026.
• Disclosure to BSE submitted on 12 Oct 2026; Acknowledgement no. 14512314.
• Event originated outside the listed entity; 12-hour window not feasible for state PSU.
• Annexure 18A requires 12-hour disclosure for changes in directors; exception discussed.
• Holding Company may nominate majority Directors per Articles 128 and 158; appointment follows Companies Act 2013.
• Company remains committed to timely regulatory compliance; seeks exchange understanding of delay.

KYC/Nomination update for physical holders

• Intimation letters dispatched to physical shareholders on 28 September 2026 for PAN, KYC, and Nomination updates.
• Soft copies of required forms are available on puncom.com and Alankit's site for download.
• Mandatory updates include PAN, Nomination, contact details, bank and postal addresses, with specimen signatures.
• Special Window for Transfer and Dematerialisation open Feb 5, 2026 to Feb 4, 2027 for pre-April 2019 holdings.
• Submit complete documents to Alankit (Unit: Punjab Communications Limited) for KYC update and dematerialisation.
• Letters of Confirmation issued after complete documents; dematerialisation within 120 days.

Punjab Communications Limited trading window closed from 1 October 2026 till 48 hours from the conclusion of the Board Meeting to consider Unaudited Financial Results for the quarter ended 30 September 2026.

AGM extension request

• Board to apply to ROC Chandigarh for up to 3-month AGM extension.
• Extension sought due to non-availability of CAG comments on FY 2025-26 financials.
• Aims to convene 45th AGM for FY 2025-26 after extension; date not fixed.
• Extension would move AGM beyond 30 September 2026 deadline.
• Stock Exchange will be informed of extension and any updates.
• Applicable under Regulation 30 of SEBI LODR; Government company.

Financial results approved

• Unaudited standalone results for quarter ended 30 June 2026 approved by the Board.
• Limited Review Report on the results by Charanjit Singh & Associates attached.
• Standalone results only; no consolidated results reported in this filing.

Key financial highlights

• Revenue from operations: 583.21 Lacs for quarter ended 30.06.2026.
• Other income: 214.18 Lacs; Total revenue: 797.39 Lacs.
• Profit before tax: 286.60 Lacs; Profit after tax: 286.60 Lacs.
• EPS Basic/Diluted: 2.38; Quarter ended 30.06.2026.

Audit observations

• Inventory valuation deviations: FIFO vs last-purchase-rate method; WIP and finished sub-assemblies valued incorrectly.
• ECL policy absent; impairment of trade receivables unaddressed.
• GST reconciliations outstanding; contingent liabilities not fully disclosed.

Emphasis of matter and related notes

• Depreciation not charged on temporary structure and certain assets; fully depreciated.
• Escrow balance and other current assets notes require ongoing reconciliation.
• Trade receivables/payables >3 years; external agency engaged; report pending.
• Predecessor auditors expressed adverse conclusion for year ended 31.03.2025.

Board meeting details

• Board held on 12 August 2026; 4:00–6:00 PM.
• Statutory Limited Review Report submitted by auditor.

Meeting Details

• 240th board meeting scheduled for Wednesday, 12 August 2026 at 03:00 PM.
• Agenda: consider unaudited quarterly results for period ended 30 June 2026.

Other Notes

• Trading window closed until 14 August 2026.