ABans Enterprises Ltd Directors Report

Dear Members,

The Board of Directors of Abans Enterprises Limited ("the Company" or "AEL") are pleased to present the 40^th (Fortieth)

Annual Report along with the Audited Financial Statements (Standalone and Consolidated) of the Company, for the financial year ended March 31, 2026 ("financial year under review").

FINANCIAL SUMMARY AND HIGHLIGHTS

The standalone and consolidated financial statements of the Company are prepared in accordance with the applicable provisions of the Companies Act, 2013 (the "Act") and rules made thereunder including Indian Accounting Standards (the "Ind AS") as specified in Section 133 of the Act, read with Companies (Indian Accounting Standards) Rules, amendments thereof.

The standalone and consolidated financial highlights of the Company for the financial year ended March 31, 2026 are summarised below

( in Lakhs)

PARTICULARS	STANDALONE 2025-26	CONSOLIDATED 2025-26
	2024-25	2024-25
Revenue from operations	18,843.74	10,545.39	13,81,282.32	3,84,976.04
Other income	330.47	255.75	2,839.52	2,839.85
Total Income	19,174.21	10,801.14	13,84,121.84	3,87,815.89
Profit before Interest, Depreciation and Taxes	317.29	1,122.04	2,372.89	5,176.98
Less: Finance cost	401.81	681.01	1,228.13	1,811.82
Less: Depreciation and amortisation expenses	107.64	0.99	303.65	210.91
Profit/(Loss) Before Tax	(192.16)	440.04	841.11	3,154.25
Less: Provision for Tax
Current Tax	0.00	155.62	416.18	1,308.97
Deferred Tax	(43.96)	(38.28)	(48.46)	(90.27)
Short provision of tax relating to earlier years	9.96	5.34	76.99	50.94
Profit/(Loss) After Tax	(158.16)	317.36	396.40	1,884.61
Other Comprehensive Income / (Loss) (Net of Tax)	(1.86)	(0.41)	628.22	175.37
Total Comprehensive Income	(160.02)	316.95	1,024.62	2,059.98

Key Ratios – Consolidated

Return on Equity- 1.83% (FY 2025-26) and 9.14% (FY 2024-25) Debt/Equity Ratio- 0.72 (FY 2025-26) and 1.22 (FY 2024-25)

FINANCIAL PERFORMANCE OF THE COMPANY Review of Standalone Results

During the financial year under review, the Company recorded strong growth in its top line, with standalone total income e increasing by 77.52% to Rs. 19,174.21 Lakhs, as against Rs. 10,801.14 Lakhs in the previous financial year. This growth reflects the Companys continued efforts to scale its operations and expand its business footprint. However, for the year under review, the Company recorded a Loss Before Tax of Rs. 192.16 Lakhs and a Loss After Tax of Rs. 158.16 Lakhs as against a Profit Before Tax of Rs. 440.04 Lakhs and Profit After Tax of Rs. 317.36 Lakhs in the previous financial year.

The Management remains focused on strengthening operational ncies and margin discipline, and is confident of translating th e Companys revenue growth into sustainable profitability in the coming years

Review of Consolidated Results

During the financial year under review, the Company recorded a significant increase in consolidated scale, with

Consolidated Total Income growing by 256.90% to Rs. 13,84,121.84 Lakhs, as against Rs. 3,87,815.89 Lakhs in the previous financial On a consolidated basis, Profit before Tax stood at Rs. 841.11 Lakhs and Profit after Tax at Rs. 396.40 Lakhs, as against Profit before Tax at Rs. 3,154.25 Lakhs and Profit after Tax at Rs. 1,884.61 Lakhs respectively in the previous financial year. The moderation in profitability was primarily attributable to volatility in commodity prices during the year under review.

The Management remains confident in the Companys long-term fundamentals and continues to focus on improving consolidated margins as the Group scales its operations across key business segments.

ACCOUNTING METHOD

The financial statements of the Company for financial year ended March 31, 2026, standalone and consolidated basis, have been prepared in accordance with the Companies Act, 2013 ("the Act") read with the Companies (Accounts) Rules, 2014, as amended and other relevant provisions of the act, including accounting principles generally accepted in

India, Indian Accounting Standards (Ind AS) specified under

Sections 129 and 133 of the Companies Act, 2013, read with the Companies (Indian Accounting Standards) Rules,

2015 and Schedule III of the Act. The consolidated financial statements incorporate the audited financial statements of the subsidiaries of the Company based on the effective ownership of the Company in such subsidiaries.

In accordance with the provisions of the Act, applicable Accounting Standards and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations"), the Audited Standalone and Consolidated Financial Statements of our Company for the Financial Year ended March 31, 2026, together with the Auditors Report forms part of this Annual Report. The Audited Financial Statements (including the Consolidated Financial Statements) of our Company as stated above and the Financial Statements of our subsidiary, whose financials are consolidated with that of the Company, are available on our Companys website at https://www.abansenterprises. com/financial-statement-subsidiaries.

INFORMATION ON THE STATE OF AFFAIRS OF THE COMPANY

The information on the affairs of the Company has been detailed in the Management Discussion and Analysis Report (‘MDA), which forms part of this Annual Report.

TRANSFER TO RESERVES

In view of the loss incurred during the year under review, no. amount has been transferred to Reserves.

DIVIDEND

The Board of the Company does not recommend any dividend for the financial year under review.

PUBLIC DEPOSITS

During the financial year under review, the Company has not accepted any deposits from the public falling within the meaning of sections 73 and 74 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014.

Further, there were no outstanding deposits at the end of financial year 2025-26.

SHARE CAPITAL

The Authorised Share capital of the Company as on March 31, 2026 is Rs. 15,00,00,000/- (Rupees Fifteen Crores Only) divided into 7,50,00,000 Equity Shares of Rs. 2/- (Rupees Two Only) each. The Paid up Share Capital of the Company is Rs. 13,94,97,760/- (Rupees Thirteen crores Ninety Four Lakhs Ninety Seven Thousand Seven Hundred Sixty Only) divided into 6,97,48,880 Equity Shares of Rs. 2/- (Rupees Two Only) each fully paid up.

During the financial year under review, Company has neither granted sweat equity shares or stock options under the aforesaid scheme or any other employee benefit scheme, nor issued shares with differential voting rights.

MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION OF THE COMPANY

Under Section 134(3)(I) of the Act, there have been no material changes and commitments affecting the financial position of the Company which have occurred between the end of the financial year of the financial statements relate and the date of this Report.

MATERIAL EVENTS DURING THE YEAR

The Company had approved the Scheme of Amalgamation between Abans Jewels Limited, its wholly owned subsidiary, with Abans Enterprises Limited and their respective shareholders ("Scheme") under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 on November 8, 2024.

However, in view of the evolving business and market dynamics, the expected benefits of the proposed amalgamation are presently not sufficiently demonstrable, and accordingly the Board considered it prudent to withdraw the said Scheme at this stage. The National

Company Law Tribunal (NCLT) disposed off the petition withdrawn on 12^th March 2026. However, no significant or material orders were passed by the Regulators or Honble Courts or Tribunals which impact the going concern status and Companys operations in future.

CHANGE IN NATURE OF BUSINESS

During the financial year under review, there has been no change in the nature of business of the Company.

SUBSIDIARIES/ ASSOCIATES/ JOINT VENTURES

As on March 31, 2026, the Company has 2 (Two) subsidiaries and 1 (One) step-down subsidiary. The Company does not have any Associate Company(ies) or Joint Venture Company(ies) within the meaning of Section 2(6) of the Act as on March 31, 2026.

The following are the subsidiary companies of the Company along with a description of their main business activity and highlights of their performance: a) Abans Jewels Limited ("AJL")

Abans Jewels Limited incorporated in 2012, is a public company and a wholly owned subsidiary of Abans Enterprises Limited engaged in the business of trading of precious metals and base metals, dealing both in physical commodities and in exchange-traded contracts on various stock exchanges. The Companys business is predominantly B2B in nature. Abans Jewels Limited is a registered jeweller and maintains associations with the major bullion bankers. The Company is also in the business of manufacturing precious / semi-precious stone studded gold and diamond jewellery.

During the year under review, AJL recorded a revenue of Rs. 13,59,065.93 Lakhs, as against Rs. 3,58,231.03 Lakhs in the previous financial year, reflecting substantial growth in scale of operations. Profit year stood at Rs. 688.69 Lakhs, as against Rs. 5,031.11

Lakhs in the previous financial year. b) Splendid International Limited, Mauritius ("SIL")

Splendid International Limited is a wholly owned subsidiary of the Company incorporated in Mauritius and it is engaged in the business of trading in commodities and derivatives.

During the year under review, SIL recorded a revenue of Rs. 1,412 Lakhs, as against Rs. 180.71 Lakhs in the previous financial year, reflecting strong growth in operations. Profit Before Tax for the year stood at

Rs. 1,363.61 Lakhs, as against Rs. 155.77 Lakhs in the previous financial year. c) Abans Gems & Jewels Trading FZC, UAE (Formerly known as Abans Gems & Jewels Trading FZE) ("AGJT") as

Abans Gems & Jewels Trading FZC is the wholly owned subsidiary of Abans Jewels Limited and therefore, it is step-down subsidiary of the Company incorporated in Dubai. It is primarily engaged in the business of trading and import / export of gold, jewellery, pearls and precious stones.

During the year under review, AGJT recorded a revenue of Rs. 12,281.07 Lakhs, as against

Rs. 19,446.68 Lakhs in the previous financial year. The entity registered a Loss Before Tax of Rs. 1,019.05 Lakhs, as against a Loss Before Tax of Rs. 2,472.67 Lakhs in the previous financial year, reflecting a narrowing of losses year-on-year.

The holding – subsidiary structure of your Company is explained through diagram below:

Contribution of the subsidiaries to overall performance of AEL

AJL, together with its subsidiary, viz. AGJT, continues to be a significant contributor to the Companys revenue and profitability. AJL has established itself as a prominent player in the bullion trading industry, both in the domestic and international markets, and has cultivated enduring relationships with major bullion bankers. Backed by a strong net worth and robust banking relationships, the entity plays a key role in supporting the Companys fund-raising requirements for its trading operations.

No Companies have ceased to be subsidiaries/ associate or joint ventures of the Company during the year under review.

During the year under review, the Board of Directors have reviewed the affairs of the subsidiaries. In accordance with Section 129(3) of the Companies Act, 2013, the Consolidated Financial Statements of the Company were prepared, which form part of this Annual Report. A separate statement containing the salient features of financial statements of subsidiaries, associates, joint ventures of the Company in the prescribed Form AOC-1 forms a part of CFS, in compliance with Section 129(3) of the Companies Act, 2013 ("the Act") read with Rule 5 of the Companies (Accounts) Rules, 2014 (as amended from time to time) and other applicable provisions, if any. In accordance with the provisions of Section 136 of the Companies Act, 2013, the Audited Financial Statements, including the Consolidated Financial Statements and related information of the Company and Audited/ Unaudited Annual Accounts of each of its subsidiaries are available on the website at www.abansenterprises.com/financial-statement-subsidiaries. These documents will be available for inspection in electronic mode. Members can inspect the same up to the date of the Annual General Meeting ("AGM"), by sending an e-mail to the Company at compliance@ abansenterprises.com. The Company will provide a copy of the Audited Financial Statements of each Subsidiary Company to any Member upon request.

Material Subsidiaries

As per Regulation 16(1)(c) of SEBI LODR Regulations, Abans Jewels Limited ("AJL") and Abans Gems and Jewels Trading FZC ("AGJT") are considered as Material Subsidiaries of the Company as on March 31, 2026.

As required under Regulation 16(1)(c) and Regulation 46 of the SEBI LODR Regulations, 2015, the Board of Directors have approved the Policy for Determining Material Subsidiary(ies) ("Policy"). The said policy is available on the website of the Company and can be accessed at www.abansenterprises.com/corporate-policies.

INVESTMENT IN SUBSIDIARIES

During the financial year under review, there was no further investment in subsidiaries.

ANNUAL RETURN

Pursuant to Section 92(3) and Section 134(3)(a) of the Companies Act, 2013 read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014, the draft

Annual Return of the Company for the financial year ended

March 31, 2026 is available on the Companys website at www.abansenterprises.com/annual-return. The signed Annual Return will be uploaded on the same link as soon as it is filed with the Registrar of Companies, within

60 days of the AGM.

DIRECTORS AND KEY MANAGERIAL PERSONNEL Board of Directors (a) Composition of the Board

The composition of the Board is in accordance with the provisions of Section 149 of the Companies Act, 2013 and Regulation 17 of the SEBI LODR Regulations, with an optimum combination of Executive, Non-Executive and Independent Directors.

The Companys Board consists of 6 (six) Directors as on date of this Report comprising: (i) Three (3) Non-Executive Independent Directors, including one (1) Woman Independent Director and; (ii) Three (3) Whole Time Directors, one (1) of whom serves as the Chief Executive Officer and (1) as a Chief Financial Officer.

The Board of the Company as on end of the financial year i.e. March 31, 2026 is as under:

Name of the Director	DIN	Designation	Date of appointment as Director
Mr. Jinesh Savla	11286253	Whole-Time Director & Chief Executive Officer	October 18, 2025
Mr. Deepak Zope	07870467	Whole-Time Director	March 01, 2026
Dr. Anita Shantaram	00786517	Woman Independent Director	July 24, 2023
Mr. Paras Savla	00516639	Independent Director	December 27, 2023
Mr. Sanjiv Swarup	00132716	Independent Director	April 05, 2023

The Board is appropriately constituted in terms of size and composition, having regard to the scale, complexity, and nature of the Companys operations. Its members bring diverse professional backgrounds and a broad range of expertise and industry knowledge, ensuring a balanced blend of perspectives essential for sound governance and effective strategic oversight.

None of the Directors of the Company are disqualified under provisions of Section 164(2) of the Companies Act, 2013.

(b) Appointment, Re-appointment and Resignation of Directors

During the year under review, the following Directors were appointed or resigned from the Board of the Company, pursuant to approval by the Members, excluding Directors liable to retire by rotation:

• Mr. Deepak Zope (DIN: 07870467) tendered his resignation from the position of Whole- Time

Director effective from the close of business hours on May 14, 2025.

• Mr. Anurag Kanwatia (DIN: 11069031) was appointed as an Additional Director (Executive) at the meeting of the Board of Directors held on May 14, 2025, in addition to his role as

Chief Financial Officer ("CFO"). His appointment was subsequently regularised by the members at the 39^th Annual General Meeting held on July 28, 2025. Thereafter, he tendered his resignation from the position of Whole-Time Director and Chief Financial

Officer of the Company effective from the close of business hours on February 28, 2026.

• Mr. Kayomarz Sadri (DIN: 07889169) tendered his resignation from the position of Whole-Time

Director & CEO of the Company effective from the close of business hours on October 17, 2025.

• Mr. Jinesh Savla (DIN: 11286253) was appointed as an Additional Director (Whole-time) and

Chief Executive Officer ("CEO") w.e.f. October 18,

2025 at the meeting of the Board of Directors held on October 08, 2025 and his appointment was thereafter regularised by the members through a resolution passed by way of Postal Ballot on December 19, 2025.

• Mr. Deepak Zope (DIN: 07870467) was appointed as an Additional Director (Whole-time) with effect from March 01, 2026, pursuant to a resolution passed by the Board of Directors at its meeting held on February 05, 2026. His appointment was subsequently regularised by the Members through a Postal Ballot resolution passed on March 27, 2026, for a term of three years.

• Ms. Shardul Chaturvedi (DIN: 08511608) resigned as a Non-Executive Non-Independent Director of the Company w.e.f. close of business hours of March 27, 2026.

Further, subsequent to the financial year ended

March 31, 2026, following Director was appointed by the Board, subject to approval of the Members of the Company:

• Mr. Ankit Joshi (DIN: 10799583) was appointed as an Additional Director (Whole-time) at the meeting of the Board of Directors held on May 12, 2026, in addition to his role as CFO, subject to approval of shareholders. He holds office upto the date of the ensuing Annual General Meeting.

(c) Director Retiring by Rotation

As per the provisions of Section 152 of the Companies Act, 2013 and Articles of Association of the Company, Mr. Jinesh Savla (DIN: 11286253), Whole-Time Director & CEO of the Company, will retire by rotation at the ensuing

AGM and being eligible, have offered themselves for re-appointment. Based on the recommendation of the

NRCC, the Board recommends his re-appointment(s) for the approval of the Members of the Company.

Pursuant to Regulation 36 of the SEBI LODR Regulations and Secretarial Standard-2, a detailed profile of the

Directors seeking appointment/ reappointment is provided in the Notice of the ensuing Annual General Meeting of the Company.

Key Managerial Personnel (KMPs) (a) Composition

In terms of the provisions of Sections 2(51) and 203 of the Companies Act 2013, read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, following officials of theCompany are the Key Managerial Personnel (‘KMP) of the Company as on March 31, 2026:

Name of the KMP	Designation	Date of appointment as KMP
Mr. Jinesh Savla	Whole-Time Director & Chief Executive Officer	October 18, 2025
Mr. Deepak Zope	Whole-Time Director	March 01, 2026
Mr. Sahil Gurav	Company Secretary and Compliance Officer	March 28, 2026

(b) Appointment and Resignation of KMPs

During the financial year under review and upto the date of this report, following were the changes in the Key Managerial Personnel of the Company:

• Ms. Mahiti Rath, Company Secretary & Compliance Officer of the Company tendered her resignation effective from the close of business hours on March 27, 2026;

• Mr. Sahil Gurav was appointed as the Company Secretary & Compliance Officer of the Company at the meeting of the Board of Directors held on March 27, 2026, with effect from March 28, 2026;

• Mr. Ankit Joshi was appointed as the Chief Financial Officer ("CFO") at the meeting of the Board of Directors held on March 27, 2026, with effect from April 01, 2026.

INDEPENDENT DIRECTORS DECLARATION

The Company has received the necessary declaration from all Independent Directors, pursuant to the provisions of Section 149(7) of the Companies Act, 2013 and Regulation 25(8) of SEBI LODR Regulations, confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Act and Regulation 16(1)(b) of the SEBI LODR Regulations, and are not disqualified from continuing as Independent Directors of the Company. Further they are not aware of any circumstance or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgement and without any external influence. Further, the veracity of the above declarations has been assessed by the Board in accordance with Regulation 25(9) of the SEBI LODR Regulations.

The Independent Directors have also confirmed compliance with the provisions of Section 150 of the Act read with Rule 6 of Companies (Appointment and Qualifications of

Directors) Rules, 2014, as amended, relating to inclusion of their name in the Databank of Independent Directors maintained with the Indian Institute of Corporate Affairs. These declarations/confirmations have been placed before the Board. They have complied with the applicable requirements of the online proficiency self-assessment test conducted by the IICA.

The Board is of the opinion that all the Independent Directors of the Company fulfil the conditions of independence as specified in the Act and SEBI LODR Regulations and are independent of the management. The Board is of the view that the Independent Directors possess the requisite integrity, expertise and experience including the proficiency as required for effectively discharging their roles and responsibilities in directing and guiding the affairs of the

Company. Further, Independent Directors have complied with the Code for Independent Directors prescribed in Schedule IV of the Act and the "Code of Conduct for Directors and Senior Management Personnel" framed by the Company. All the board members and senior management personnel of the Company have affirmed compliance with the Code of Conduct. The Code of Conduct is available on the website of the Company at www.abansenterprises.com/ Codeofconduct/DirectorsandSeniorManagementPersonnel

The Company has received a certificate from M/s. D. A

Kamat & Co., Company Secretaries (P.R. No. 1714/2022) pursuant to Regulation 34(3) and Schedule V Para C clause

(10)(i) of the SEBI LODR Regulations, confirming that none of the Directors on the Board of the Company have been debarred or disqualified from being appointed or continuing as Directors of companies by the SEBI, Ministry of Corporate Affairs, or any such other statutory authority.

The same forms part of the Corporate Governance Report forming part of this Annual Report.

ANNUAL PERFORMANCE EVALUATION

Pursuant to the provisions of Sections 178 and 134(3)(p) and Schedule IV of the Act and in accordance with Regulation 17(10) and Regulation 25(4) of the SEBI LODR Regulations, and in terms of the Framework of the Board Performance Evaluation, the Board of Directors and Committees have carried out an annual evaluation of the Board as a whole, various Committees of the Board and Individual Directors. The manner in which the evaluation was carried out has been set out in the Corporate Governance Report, which forms part of this Annual Report. The criteria for performance evaluation is broadly based on the Guidance Note on Board Evaluation issued by the SEBI on January 05, 2017.

The Board reviewed the performance of Individual Directors through a structured questionnaire based on various aspects which, inter-alia, included transparency, performance, the level of participation in the Board Meetings, inputs provided to executive management on matters of strategic importance, familiarization with the business of the Company and its Subsidiaries, etc.

The outcome of the Independent Directors Meeting was discussed at the subsequent Board Meeting held on May 12, 2026, at which the performance of the Board as a whole, its Committees, and Individual Directors, including the Chairman, was also evaluated and discussed.

Pursuant to the provisions of Schedule IV of the Act and Regulation 25 of the SEBI LODR Regulations, the Independent Directors of the Company, at their Meeting held on March 27, 2026, evaluated the performance of Non-Independent Directors and the Board as a whole and also assessed the quality, quantity and timeliness of flow of information between the Management and the Board.

Outcome of the Performance Evaluation

The evaluation results indicated a high degree of satisfaction with the performance and effectiveness of the Board, its Committees, and Individual Directors. The Board reviewed the observations and suggestions arising therefrom and reaffirmed its commitment to strengthening governance practices through focused familiarisation programmes, knowledge enhancement sessions, and ongoing development of skills relevant to the Companys changing business and regulatory environment.

The Directors expressed satisfaction with the overall functioning of the Board and its Committees. The

Committees continue to function effectively, with important issues being discussed beyond their formal terms of reference as mandated under applicable laws. The Board also expressed satisfaction with the individual contributions of each Director. A report on the performance evaluation was placed before the Board at its meeting held on May 12, 2026 for its review and noting.

FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

The Company believes in continuously familiarizing its Independent Directors and Non-Executive Directors with the Companys business, industry dynamics, regulatory environment, business model, governance framework and key developments to enable them to effectively discharge their duties and responsibilities.

Upon appointment, Directors are provided with a formal Letter of Appointment setting out, inter-alia, their roles, duties, responsibilities, rights and obligations under the Act and the SEBI LODR Regulations. They are also familiarized with the Companys operations, organisational structure, business segments, risk management framework and the businesses of the Abans Group.

Further, on an ongoing basis presentations are regularly made to the Independent Directors on various matters, inter-alia, covering the business strategies, management structure, management development, quarterly and annual results, budgets, reviews of internal audit, risk management framework, operations of the Subsidiaries and corporate governance, etc.

Pursuant to provisions of Regulation 25 and Regulation 46 of the SEBI LODR Regulations, the Company has adopted a Policy on Familiarization Programmes for Independent Directors. The Policy and details of the Familiarization Programmes conducted are available on the website of the Company and can be accessed at https://abansenterprises. com/Familiarization Programme

MEETINGS OF THE BOARD AND ITS COMMITTEES Board

During the financial year 2025-26, the Board held 7 (Seven) meetings, on May 14, 2025, June 27, 2025, August 08, 2025, October 08, 2025, November 06, 2025, February 05, 2026, and March 27, 2026. The maximum interval between two (2) meetings did not exceed One hundred and Twenty (120) days, as prescribed under the Act and SEBI LODR Regulations.

During the year, the Board considered and approved various strategic, operational, financial, governance and statutory matters. These, inter alia, included approval of financial results, statutory matters, review of business performance, strategy, risk management, compliance, key policies, and other matters requiring the Boards guidance.

Details of Board composition, its Meetings, and the attendance of Directors are provided in Corporate Governance Report, which forms part of this Annual Report.

Committees of the Board

The Board has constituted the following 3 (three) statutory committees in accordance with the Act and the SEBI LODR Regulations, to oversee various aspects of governance and operations and they function according to their respective roles and defined scope. Details of the Board Committees as on March 31, 2026 is as below: (i) Audit Committee, (ii) Nomination, Remuneration and Compensation Committee, (iii) Stakeholders Relationship Committee.

Details of composition of the committees during the year,changes therein, terms of reference, number of meetings held and attendance of Committee Members thereof during the financial year under review are provided in Corporate

Governance Report, which forms part of this Annual Report. Further, during the year under review, all recommendations made by the Audit Committee have been accepted by the Board.

Further, the Board has also constituted an Executive Committee comprising of members of the Board, to inter-alia take decisions relating to borrowings, investments and lending from time to time and other matters as delegated by the Board.

NOMINATION, REMUNERATION & PERFORMANCE EVALUATION POLICY

The Company has a Nomination, Remuneration & Performance Evaluation Policy for appointment, remuneration and evaluation of performance of Directors, Key Managerial Personnel and Senior Management, pursuant to Section 178 of the Companies Act, 2013 and the applicable provisions of the SEBI LODR Regulations. The said Policy was reviewed and revised by the Board at its meeting held on February 05,, 2026 to align it with regulatory amendments based on the recommendation of the Nomination, Remuneration and Compensation Committee.

Following are the salient features of the policy:

• To guide the Board in relation to appointment and removal of Directors, Key Managerial Personnel and Senior Management;

• Provides a framework for selection of Directors and

KMPs based on integrity, qualifications, and experience;

• To recommend to the Board remuneration payable to the Directors, Key Managerial Personnel and Senior Management;

• To evaluate the performance of the Board, Committees, and individual Directors and provide necessary report to the Board for further evaluation;

Defining role of the Nomination, Remuneration and

Compensation Committee to oversee appointments, evaluations, and remuneration;

The policy covers the appointment criteria and qualifications, positive attributes, independence and remuneration of its Directors, Key Managerial Personnel and Senior Management Personnel and the same is available on the website of the Company at www.abansenterprises.com/ Nomination Remuneration Performance Evaluation Policy

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(3)(c) and 134(5) of the Companies Act, 2013, for the Financial Year ended March 31, 2026, the Board of Directors, to the best of their knowledge, belief and according to the information and explanations obtained from the operating management, state that: (a) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any; (b) The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the loss of the Company for that period; (c) The Directors sufficient care have taken proper and for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; (d) The Directors have prepared Annual Accounts on a going concern basis; (e) The Directors have laid down Internal Financial Controls to be followed by the Company and such Internal Financial Controls are adequate and were operating effectively;

(f) The Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and such systems are adequate and were operating effectively.

AUDITORS

Statutory Auditors

Pursuant to provisions of Section 139 of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014, the Members at the Annual General Meeting (AGM) of the Company held on July 28, 2025, appointed M/s. C L A S S & Co. LLP, Chartered Accountants (Firm Registration No. 101717W/ W101120) as Statutory Auditor of the Company to audit the books of accounts of the Company for a term of five (5) years i.e from financial year 2025-26to2029-30andtoholdofficefrom the 39 ^th AGM till the conclusion of the 44^th AGM of the Company to be held for the financial year 2029-30. Further, in accordance with the NFRA Circular dated January 07, 2026, regarding ‘Effective Communication between Statutory Auditors and Those Charged with Governance, the Company has established a framework for structured, two-way communication between the Auditors and the Audit Committee/ Board/ Those Charged With Governance.

M/s. C L A S S & Co. LLP, Chartered Accountants confirmed that they meet the eligibility criteria and are free from any disqualifications as specified under Section 141 of the Companies Act, 2013, SEBI LODR Regulations and have affirmed their independent status.

The Audit Committee reviews the independence and objectivity of the Statutory Auditors, as well as the effectiveness of the audit process, on a regular basis, to ensure the integrity and reliability of the Companys financial reporting. Secretarial Auditor PursuanttotheprovisionsofSection204(1)oftheCompanies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regulation 24A of the SEBI LODR Regulations, the Members at the AGM of the Company held on July 28, 2025, appointed M/s. D. A. Kamat & Co., Company Secretaries (P.R. No. 1714/2022), as Secretarial Auditors of the Company for a term of five (5) years i.e from financial year 2025-26 to 2029-30. and to hold office from the 39th AGM till the conclusion of the 44th AGM of the Company to be held for the financial year 2029-30. M/s. D. A. Kamat & Co., Company Secretaries have confirmed that they meet the eligibility criteria.

The Auditors have confirmed that they hold a valid certificate issued by the Peer Review Board of the ICSI and are not disqualified to continue as Auditors and are eligible to hold office as Auditors of the Company.

Internal Auditor

Pursuant to the provisions of Section 138 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014, on recommendation of the Audit Committee, the Board has appointed M/s. P S S V & Associates LLP, Chartered Accountants, as Internal Auditor of the Company to conduct Internal Audit of the various areas of operations and records of the Company for the Financial Year 2025-26 in accordance with the provisions of the Act.

The Company has established a robust Internal Audit function, operating on an audit plan approved by the Audit Committee, focusing on internal controls, governance, and statutory compliance.

Cost Auditor

Pursuant to Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014, the maintenance of cost records and conducting a Cost Audit are not applicable to the Company, as it is principally engaged in trading operations, which fall outside the scope of the prescribed cost audit rules.

AUDITORS REPORTS Statutory Auditors Report

The Statutory Auditors Report on the Financial Statements (Standalone & Consolidated) of the Company for the Financial Year ended March 31, 2026 forms part of this Annual Report. The Auditors Report does not contain any qualifications, reservations, adverse remarks or disclaimer.

Notes to Accounts and Auditors remarks in their Report are self-explanatory and do not call for any further comments under Section 134(3)(f) of the Act.

Annual Secretarial Compliance Report

The Annual Secretarial Compliance Report for the Financial Year ended March 31, 2026 in relation to compliance of all applicable SEBI LODR Regulations / Circulars / guidelines issued thereunder, pursuant to requirement of Regulation 24A of the SEBI LODR Regulations was obtained from M/s. D. A. Kamat & Co., Company Secretaries (P.R. No. 1714/2022). The same was submitted to stock exchanges within the given timeframe. The report is available on the website of the Company at www.abansenterprises.com/ secretarial-compliance-report.

Secretarial Audit Report

The Company has, to the extent applicable, complied with the Secretarial Standards issued by the ICSI. The Secretarial

Audit Report in Form MR-3 for the financial year under review forms part of this Annual Report as an annexure. The Secretarial Audit Report for Financial Year 2025-26 issued by M/s. D. A. Kamat & Co., Company Secretaries (P.R. No. 1714/2022) is annexed herewith as "Annexure I". The report does not contain any qualification, reservation or adverse remark. Secretarial Audit Report of Material Subsidiaries

Pursuant to provisions of Regulation 24A of the SEBI LODR Regulations, M/s. D. A. Kamat & Co., Company Secretaries (P.R. No. 1714/2022), Secretarial Auditor of the material subsidiary of the Company i.e. Abans Jewels Limited ("AJL") has undertaken Secretarial Audit and their. Secretarial Audit Report of AJL for Financial Year 2025-26 is annexed herewith as "Annexure II". The Report does not contain any adverse marks, qualification, reservation, adverse comments or disclaimers.

Internal Audit Report

The Internal audit plan is reviewed by the Audit Committee and Internal audits are undertaken on a periodic basis to independently validate the existing controls.

The Audit Committee reviews the internal audit reports on a periodic basis, including the audit observations along with the corrective and preventive actions taken thereon, and also reviews the adequacy and effectiveness of the internal control systems based on such reports. The Members of the Audit Committee and the Internal Auditors have free access to each other and maintain an open channel of communication to discuss matters of significance at any time.

Significant audit observations, if any, are presented to the

Audit Committee along with the status of management actions and the progress of implementation of recommendations. The Audit Committee also reviews the adequacy and effectiveness of internal controls.

INTERNAL CONTROLS

The Company has in place an effective internal audit framework to monitor the efficacy of internal controls with the objective of providing to the Audit Committee and the Board of Directors, an independent and reasonable assurance on the adequacy and effectiveness of the organizations risk management, internal control and governance processes. The framework is commensurate with the nature of the business, size, scale and complexity of our operations. Systems and procedures are periodically reviewed to keep pace with the growing size and complexity of the Companys operations. The Audit Committee also periodically reviews the adequacy and effectiveness of internal control systems and provides guidance for further strengthening them.

INTERNAL FINANCIAL CONTROLS

The Board has adopted accounting policies which are in accordance with Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015.

The internal financial control system of the Company is supplemented with internal audits, regular reviews by the management and checks by external auditors. These mechanisms provide reasonable assurance in respect of financial and operational information, compliance with applicable statutes, safeguarding of assets of the Company, prevention and detection of frauds, accuracy and completeness of accounting records and adherence to the Companys policies.

The Internal Financial Control procedure adopted by the

Company are adequate for safeguarding its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records and the timely preparation of reliable financial information. The Company tracks the amendments in the Accounting Standards, other applicable regulatory framework and makes changes to the underlying systems, processes and financial controls to ensure adherence to the same.

During the year under review, the Internal Financial

Controls were operating effectively and no material or serious observation has been received from the Auditors of the Company for inefficiency or inadequacy of such controls. Further, details regarding the adequacy of internal financial controls are given in the Management Discussion and Analysis Report, forming part of this Annual Report.

CORPORATE GOVERNANCE

A section on Corporate Governance standards followed by the Company, as stipulated under Schedule V of SEBI LODR Regulations, forms part of the Annual Report.

A certificate from M/s. D. A. Kamat & Co., Company

Secretaries (P.R. No. 1714/2022), regarding compliance with the conditions of Corporate Governance, as stipulated in Regulation 34(3) read with Schedule V of the SEBI LODR Regulations, forms part of the Corporate Governance Report.

MANAGEMENT DISCUSSION AND ANALYSIS

In accordance with Regulation 34(2)(e) of the SEBI LODR Regulations, a detailed review of the operations, performance and future outlook of your Company and its businesses is provided in the Management Discussion and Analysis, which forms part of the Annual Report.

RISK ASSESSMENT AND MANAGEMENT

The Company recognises that risk is an integral and inevitable part of business and is fully committed to manage the risks in a proactive and efficient manner. The Companys governance structure has well-defined roles and responsibilities, which enable and empower the Management to identify, assess and leverage business opportunities and manage risks effectively. The Company has been on a continuous basis reviewing and streamlining its various operational and business risks. The Company has a disciplined process for continuously assessing risks, in the internal and external environment along with minimising the impact of risks.

Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuous basis.

Risk Management Policy

The Company has in place a comprehensive Risk Management Policy, approved by the Board of Directors, covering the risks inherent in its diverse businesses structured products, bullion and base metals treasury operations, domestic agri-commodity trading, and equity derivatives (F&O) trading. The Policy identifies key risks including commodity and market price risk, counterparty/ credit risk, liquidity risk, leverage risk, operational risk (warehousing, quality, and inventory-related), currency and interest rate risk, and volatility and event risk, and prescribes specific safeguards for each such as delta hedging for structured products, back-to-back exchange hedging and margin controls for bullion and commodity trades, and VaR, Greeks, and correlation-based analytics for equity derivatives ensuring risk is identified, measured, and contained within Board-approved limits.

Risk management is a continuous process of identification, assessment, monitoring, mitigation, and reporting, overseen by an independent risk team. The Board reviewed and revised the Risk Management Policy at its meeting held on May 12, 2026 to align it with the Companys current risk profile and strengthen the risk identification and mitigation framework. The same is uploaded on the website of the Company at www.abansenterprises.com/Risk Management Policy

WHISTLE BLOWER/ VIGIL MECHANISM POLICY

In compliance with the provisions of Section 177(9) & (10) of the Companies Act, 2013, read with Rule 7 of the Companies (Meetings of Board and its Powers) Rules, 2014 (as amended from time to time) and Regulation 22 of SEBI LODR Regulations, the Company has adopted a Vigil Mechanism/ Whistle Blower Policy for Directors and Employees who avails the mechanism framed under this policy to report concerns about unethical behaviour, the details of which are covered in the Corporate Governance Report which forms part of Annual Report.

The objective of this mechanism is to maintain a redressal system which can process all complaints concerning questionable accounting practices, internal controls, or fraudulent reporting of financial information.

The Policy provides a mechanism which ensures adequate safeguards to such concerned persons (whistle blowers) against any victimisation for raising concerns pertaining to violation of legal or regulatory requirements, or incorrect or misrepresentation of financial statements and reports, among others. The functioning of the Vigil Mechanism is reviewed by the Audit Committee from time to time. None of the Directors or employees has been denied access to the Audit Committee of the Board. The said policy is available on the website of the Company at www.abansenterprises. com/Vigil Mechanism & Whistleblower Policy.

LOANS, GUARANTEES OR INVESTMENTS

The details of loans given, investments made, guarantees given or securities provided by the Company up to the end of the year under review were within the limits approved in Special Resolution passed on September 27, 2023 by the Shareholders. Pursuant to the provisions of Section 186 of the Act and Schedule V of the SEBI LODR Regulations, particulars of loans, guarantees given, investments made and securities provided by the Company during financial year under review are stated in the notes to the Financial Statements.

CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES

As per requirements of the Companies Act 2013 and SEBI LODR Regulations and pursuant to the recommendation of theAuditCommittee,theCompanyhasformulatedthePolicy on Materiality and Dealing with Related Party Transactions ("RPT Policy") which is available on the Companys website and can be accessed at www.abansenterprises.com/Policy on determining materiality and dealing with RPTs. In terms of the SEBI (LODR) (Fifth Amendment) Regulations, 2025 dated November 18, 2025, the Company has reviewed and updated its RPT Policy to align with the revised provisions. During the Financial Year under review, all the related party transactions were entered into on arms length basis, in the ordinary course of business and are in compliance with Section 188 and applicable provisions of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 and SEBI LODR Regulations. All related party transactions were placed before the Audit Committee for prior approval. Prior omnibus approval of the Audit Committee is obtained for the transactions which are of unforeseen or repetitive in nature. The details of all such related party transactions entered into pursuant to the omnibus approval of the Audit Committee, were placed before the Audit Committee on a quarterly basis for its review.

Contracts/ arrangements/ transactions which were material, were entered into with related parties in accordance with the Companys Policy on determining materiality of and dealing with Related Party Transactions and with approval of Shareholders. The Company had not entered into any contracts/ arrangements/ transactions with related parties which is not at arms length. Disclosure in Form AOC-2 in terms of Section 134(3)(h) read with Section 188 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014, annexed as "Annexure III" forms part of this Report. The details of the related party transactions as required under Indian Accounting Standard (Ind AS) 24 are set out in the Notes to the Financial Statements.

PARTICULARS OF EMPLOYEES AND REMUNERATION

The remuneration paid to the Directors and Key Managerial Personnel is in accordance with the Nomination, Remuneration & Performance Evaluation Policy of the Company formulated in accordance with Section 178 of the Companies Act, 2013 and Regulation 19 read with Schedule II of the SEBI LODR Regulations.

Disclosure with respect to the percentage increase in remuneration, ratio of the remuneration of each Director and KMP to the median employees remuneration and other details in terms of the provisions of Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (as amended from time to time), has been appended as Annexure IV to this Boards report.

As per the provisions of Section 197(12) of the Act read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a statement containing names of top ten employees in terms of remuneration drawn and the particulars of employees forms part of this report. However, pursuant to the first proviso to Section 136(1) of the Act, the Annual Report is being sent to the Members excluding the said statement, which is available for inspection up to the date of the AGM. Members seeking inspection or a copy thereof may write to the Company at compliance@abansenterprises.com. Mr. Kayomarz Sadri, Whole-Time Director & CEO (resigned with effect from close of business hours on October 17, 2025), and Mr. Deepak Zope, who was designated as an Executive Director resigned with effect from close of business hours on May 14, 2025, and was subsequently appointed as Whole-Time Director with effect

01, 2026, have received remuneration from the subsidiary company, Abans Jewels Limited. As the Company does not have a holding company, the disclosure of remuneration or commission received from a holding company does not arise.

EMPLOYEE STOCK OPTIONS SCHEME (ESOS)

The Shareholders of the Company had, through Special Resolution passed by Postal Ballot on March 15, 2025, approved the introduction and implementation of the AEL Employee Stock Option Scheme, 2025 ("AEL ESOS 2025") and extension of benefits of

ESOS 2025 to the Employees of the Subsidiary Companies, if any, in terms of the provisions of Securities and Exchange

Board of India (Share Based Employee Benefits and Sweat

Equity) Regulations, 2021 ("SEBI SBEB Regulations") and authorized the Board / Nomination, Remuneration and Compensation Committee to issue to the eligible employees, such number of Options under the AEL ESOS 2025, as would be exercisable into, not exceeding 69,74,888 (Sixty Nine Lakhs Seventy Four Thousand Eight Hundred and Eighty Eight) fully paid-up equity shares of Rs. 2/- each in the Company.

During the financial year under review and upto the date of this report, no grants were made under the AEL ESOS 2025. The AEL ESOS 2025 is being administered and monitored by the Nomination Remuneration & Compensation Committee of the Company and the scheme is in compliance with the SEBI SBEB Regulations. The compliance certificate under Regulation 13 of SEBI SBEB

Regulations issued by Secretarial auditor of the Company, M/s. D. A. Kamat & Co., Company Secretaries, (P.R. No. 1714/2022) shall be made available for inspection in accordance with statutory requirement and the certificate forms part of this report as Annexure V. Disclosures as required under the SEBI SBEB Regulations, with respect to the AEL ESOS 2025, as on March 31, 2026 are available on the Companys website at www.abansenterprises.com. The relevant disclosures as per applicable accounting standard forms part of the notes to the Standalone Financial Statements and Consolidated Financial Statements of the Company.

The disclosures required under Regulation 14 read with

Schedule I of the SEBI (Share Based Employee Benefits

Sweat Equity) Regulations, 2021 ("ESOP Regulations") (as amended from time to time), are available on the website of the Company.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Pursuant to the provisions of Section 134(3)(m) of the Act read with Rule 8(3) of the Companies (Accounts) Rules, 2014, the details of conservation of energy, technology absorption and foreign exchange earnings and outgo of the Company are as follows –a) Conservation of Energy i. The steps taken or impact on conservation of energy - The Operations of the Company are not energy intensive. However, adequate measures have been initiated for conservation of energy. ii. The steps taken by the Company for utilizing alternate source of energy - Company shall consider on adoption of alternate source of energy as and when the need arises. iii. The Capital Investment on energy conversation equipment - No Capital Investment were made during the Financial Year under review. b) Technology absorption i. The efforts made towards technology absorption.

- The Company has absorbed the minimum technology required for its business operations and remains committed to adopting appropriate technology as its business needs evolve. ii. The benefits derived like product improvement, cost reduction, product development or import substitution - Given the nature of the Companys operations, this disclosure is not applicable for the year under review. iii. In case of imported technology (imported during the last three years reckoned from the beginning of the financial year) - The Company has not imported any technology during the period under review, consistent with the nature of its business operations. iv. The expenditure incurred on Research and development - The Company has not incurred any Research and Development expenditure during the year. The Company remains committed to investing in R&D initiatives should its business requirements warrant such investment in the future. c) Foreign Exchange Earnings and Outgo- During the financial year under review, the company had Foreign

Exchange Earnings of Rs. 13,95,908/- and Foreign outgo of Rs. 1,039/-.

CHANGE OF REGISTERED OFFICE

During the year under review, the registered office of the

Company has been shifted within local limits of the city from 36, 37, 38A, 3^rd Floor, 227 Nariman Bhavan, Backbay Reclamation, Nariman Point, Mumbai – 400021 to 13A/B/C, 1^st Floor, Mittal Chambers, Barrister Rajni Patel Marg, Nariman Point, Mumbai – 400021.

The Company has filed all requisite e-forms with the Registrar of Companies in relation to the said change, in compliance with the applicable provisions of the Companies Act, 2013.

DIRECTORS AND OFFICERS (‘D&O) INSURANCE:

Although the provisions of Regulation 25(10) of the SEBI LODR Regulations are not applicable to the Company, the Company has voluntarily taken a D&O Liability Insurance policy on behalf of all Directors, including Independent Directors, and officers of the Company for such quantum and for such risks as determined by the Board.

CODE FOR PROHIBITION OF INSIDER TRADING

Pursuant to SEBI (Prohibition of Insider Trading) Regulations 2015, as amended, the Company has approved a Code of Conduct to regulate, monitor and report trading by Insiders and a Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI). is available at www.abansenterprises.com/assets/Files/ Code%20of%20Practices%20and%20Procedures%20 for%20Fair%20Disclosure%20of%20UPSI%20Final.pdf Further details on the same forms part of the Corporate Governance Report.

PLACE OF KEEPING BOOKS OF ACCOUNTS AND PAPERS

Pursuant to the resolution of the Board of Directors dated November 06, 2025, the Company decided to maintain its books of accounts and other statutory records at a place other than its registered office, from the present location i.e. 25, 2nd Floor, Mittal Chambers, Barrister Rajni Patel Marg, Nariman Point, Mumbai – 400021 to 21, 2nd Floor,

Mittal Chambers, Barrister Rajni Patel Marg, Nariman Point, Mumbai – 400021.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has implemented a Policy on Prevention of Sexual Harassment (PoSH) at Workplace in accordance with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013 ("PoSH Act") and rules made thereunder and has always provided a safe atmosphere for work that is free from discrimination and harassment, including sexual harassment. It has provided equal opportunities of employment to all without regard to their caste, religion, colour, marital status and sex.

The Company has complied with provisions relating to the constitution of Internal Complaints Committee ("ICC") under the PoSH Act. Appropriate mechanisms are in place to ensure protection against sexual harassment and to safeguard employees right to work with dignity. The Policy covers all categories of employees i.e. permanent, contractual, temporary, and trainees and has been widely communicated internally, including through its placement on the Companys intranet portal. A quarterly report on complaints, if any, is placed before the Board for review. The details of number of Sexual Harassment Complaints are as mentioned below:

Particulars	Number of Complaints
1 Number of Sexual Harassment Complaints received	0
2 Number of Sexual Harassment Complaints disposed off	0
3 Number of Sexual Harassment Complaints pending at the end of financial year.	0

The Code on Social Security, 2020 / Maternity benefit

Pursuant to Section 134 of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014, the Company confirms that it is in compliance with the applicable provisions relating to maternity benefits, as prescribed under the Maternity Benefit Act, 1961 and the Code on Social Security, 2020, to the extent notified and applicable.

New Labour Codes

Pursuant to the notifications published in the Official

Gazette on November 21, 2025, the Central Government has brought into effect the four New Labour Codes, namely, the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020, consolidating 29 existing Central labour laws.

In light of this development, the Company has reassessed its employee benefit obligations, including those flowing from the revised definition of wages and the enhanced social security coverage prescribed under the New Labour Codes, and has recognised the consequent impact, wherever applicable, in its financial statements.

REPORTING OF FRAUD BY AUDITORS

During the Financial Year under review, none of the Auditors have reported any instances of frauds in the Company by its officers or employees, to the Audit Committee or the

Board pursuant to the provisions of Section 143(12) of the Companies Act, 2013.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Since the Company does not meet the thresholds prescribed under Section 135(1) of the Companies Act, 2013, the provisions relating to Corporate Social Responsibility, including the constitution of a CSR Committee, are not applicable to the Company. Accordingly, the Company has not developed or implemented a CSR Policy during the year under review.

COMPLIANCE WITH SECRETARIAL STANDARDS

The Board of Directors affirms that the Company has complied with the applicable Secretarial Standards (‘SS) issued by the Institute of Company Secretaries of India, relating to Meetings of the Board (SS-1) and General Meetings (SS-2), which have mandatory application during the Financial Year under review.

OTHER DISCLOSURES

In terms of applicable provisions of the Act and SEBI LODR Regulations, the Company discloses that during the financial year under review:

i) There was no scheme for provision of money for the purchase of our own shares by employees or by trustees for the benefit of employees.

ii) there was no issue of shares with differential rights.

iii) there was no transfer of unpaid or unclaimed amount to Investor Education and Protection Fund (IEPF).

iv) No credit rating was required to be obtained by the Company with respect to its securities.

v) there were no proceedings for Corporate Insolvency Resolution Process initiated under the Insolvency and Bankruptcy Code, 2016.

vi) there was no failure to implement any Corporate Action.

vii) there was no instance of one-time settlement with any Bank or financial institution.

CAUTIONARY STATEMENTS

Statements in this Annual Report, particularly those which relate to Management Discussion and Analysis as explained in the Corporate Governance Report, describing the Companys objectives, projections, estimates and expectations may constitute ‘forward looking statements within the meaning of applicable laws and regulations.

Actual results might differ materially from those either expressed or implied in the statement depending on the circumstances.

APPRECIATION

The Directors place on record their sincere gratitude and appreciation for all the employees of the Company. Companys consistent growth has been possible by their hard work, solidarity, co-operation and dedication during the year.

The Board conveys its appreciation for the continued cooperation, guidance, support and assistance extended during the Financial Year under review by our auditors, bankers, authorities, financial institutions, shareholders, regulatory and government authorities.

For and on behalf of the Board of Directors
Abans Enterprises Limited
Jinesh Savla	Deepak Zope
Whole Time Director & CEO	Whole-Time Director
DIN: 11286253	DIN: 07870467
Place: Mumbai	Place: Mumbai
Date: May 12, 2026	Date: May 12, 2026