Mandatory Regulatory Disclosures

Mr. Sandeep Kumar is registered with SEBI as an Individual Research Analyst (Proprietor of Saanvi Research) under Registration No. INH000029980, dated Sep 07, 2026 with perpetual validity, having registered office address at C 01 SAI CITY DHABLI INDORE, INDORE, MADHYA PRADESH, 453771. He provides professional Research Analyst services to clients under this statutory registration.

Mr. Sandeep Kumar is a qualified Research Analyst. With a strong analytical skill set, quantitative modeling acumen, and market experience, he excels in identifying institutional investment ideas and implementing disciplined trading strategies.

Research recommendations and trading setups are formulated using: (a) Fundamental Analysis (macroeconomic indicators, corporate earnings, balance sheet strength, sector valuation), and (b) Technical Analysis (price action, market structure, momentum indicators, volume profile, support-resistance frameworks).

There are no outstanding litigations, inquiries, or regulatory proceedings, and no disciplinary actions or penalties have ever been taken against Mr. Sandeep Kumar or Saanvi Research by SEBI or any other statutory authority.

Mr. Sandeep Kumar has exercised due diligence in checking the correctness and authenticity of the information contained herein, so far as it relates to current and historical information, but does not guarantee its accuracy or completeness. Opinions expressed are based on research as of the date appearing in the material and may be subject to change from time to time without notice.

Mr. Sandeep Kumar does not accept any liability arising from the use of this document or the information contained herein. The recipients of this material should rely on their own judgment and take their own professional advice before acting on this information.

Mr. Sandeep Kumar shall not be in any way responsible for any loss or damage that may arise to any person/s from any inadvertent error in the information contained, views and opinions expressed in this publication.

Mr. Sandeep Kumar or his associates, including relatives: (a) Do not hold any financial interest in the subject Company; (b) Do not have any actual/beneficial ownership of more than 1% in the company; (c) Do not have any other material conflict of interest at the time of publication of the research report.

Mr. Sandeep Kumar or his associates are not affiliated with any other intermediaries and have not received any brokerage or commission from any third party.

Mr. Sandeep Kumar or his associates have not received any compensation from the Company covered by the Research Analyst during the past twelve months.

Mr. Sandeep Kumar or his associates have not managed or co-managed any public offering of securities of the Company during the past twelve months.

Mr. Sandeep Kumar or his associates have not served as an officer, director or employee of the Company and have not been engaged in market making activity of the Company.

Mr. Sandeep Kumar has ensured that the facts mentioned in the research report are taken from reliable sources and information. However, investors are advised to independently evaluate the market conditions/risks involved before making investment decisions.

Mr. Sandeep Kumar / Saanvi Research may use Artificial Intelligence (AI) tools and algorithmic screeners as part of the research process to enhance analysis, data processing, and research efficiency.