Date: November 13, 2026

Board Meeting Outcomes

The Board of Directors of Innovision Limited, at its meeting held on November 13, 2026, approved a change in accounting estimate relating to the pattern of consumption of the right to collect toll under the Company's contracts with the National Highways Authority of India (NHAI).

The change was made upon recommendation of the Audit Committee and involves revision of the basis for recognition of fees payable to NHAI.

Accounting Change Details

Nature of Change: Change in Accounting Estimate

Previous Method: Recognition of fees payable to NHAI on a straight-line basis over the contract period

Revised Method: Recognition of fees payable to NHAI in proportion to estimated monthly vehicular traffic relative to total estimated traffic over the contract period, based on historical traffic data of the previous year

Effective Date: July 01, 2026

Application Method: Prospective application

Applicable Accounting Standard: IND AS 8 – Accounting Policies, Changes in Accounting Estimates and Errors

Rationale for Change

The Management considers the revised basis more appropriate as it:

  • Better reflects the actual pattern of consumption of the right to collect toll
  • Takes into account seasonal and periodic variations in vehicular movement on toll roads
  • Provides more appropriate allocation of contractual fees over the contract period
  • Results in more representative recognition of expenses in relation to the pattern of consumption

Accounting Treatment

The change has been applied prospectively with effect from July 01, 2026 (beginning of quarter ended September 30, 2026). Comparative financial information for earlier periods has not been restated.

The change affects only the timing of recognition of the toll fee expense over the contract period and does not alter the aggregate expense to be recognised over the contract period.

Financial Impact

For the quarter ended September 30, 2026:

  • Toll fee expense decreased by ₹23.76 Crores
  • Profit before tax increased by ₹23.76 Crores

For the half-year ended September 30, 2026:

  • Toll fee expense decreased by ₹23.76 Crores
  • Profit before tax increased by ₹23.76 Crores

The total contractual fees payable to NHAI remain unchanged, and there is no change in the total contractual obligation of the Company.

Additional Information

The requisite disclosures will form part of the financial results for the quarter and half-year ended September 30, 2026.

Board Meeting timing: Commenced at 04:37 PM and concluded at 05:00 PM.

Not Specified Sections

No material disclosures under the following sections: KMP / Board / Auditor Changes, Dividend Declaration, Financial Results (detailed), Auditor's Report, Disinvestment / Strategic Actions, Media Release / Investor Communication, Other Operational / Legal / Strategic Disclosures.