Affordable Robotic & Automation Ltd Directors Report

Dear Members,

The Board of Directors hereby submits the Sixteenth Annual Report of the business and operations of Affordable Robotic & Automation Limited (the Company or ARAL or ARAPL) along with the audited financial statements, for the financial year ended on March 31, 2025.

1. Financial results

The highlights of the financial performance on consolidated and standalone basis for the year ended March 31, 2025 are as under:

(INR in Lakhs)

Particulars	Standalone		Consolidated
	Financial Year 2024-25 (FY25)	Financial Year 2023-24 (FY24)	Financial Year 2024-25 (FY25)	Financial Year 2023-24 (FY24)
Income
Revenue from operations	16,047.26	15,007.46	16,255.85	16,309.93
Other income (net)	21.60	10.65	99.25	30.48
Total income	16,068.86	15,018.11	16,355.10	16,340.41
Expenses
Operating expenditure	15,095.84	14060.48	17,106.11	15,181.59
Depreciation and amortization expense	151.56	127.90	190.73	293.52
Total expenses	15,247.40	14,188.38	17,296.84	15,475.16
Profit before extraordinary items & tax	821.46	829.72	(941.74)	865.29
Profit before tax (PBT)	821.46	829.72	(941.74)	865.29
Tax expense	222.87*	222.53*	223.14*	222.55*
Profit for the year	598.59	607.19	(1164.88)	642.75

*Including Deferred Tax Charges (Revenue)

2. Dividend

The Board of Directors does not recommend any dividend for the financial year.

3. Reserves

The Board proposes to carry the Net profit after taxation of Rs. 598.59 Lakhs for the financial year 2024-25 [P.Y.: Net profit After Taxation of Rs. 607.19 Lakhs] for standalone and for consolidated Net profit after taxation of Rs. (1164.88) Lakhs for the financial year 2024-25 [P.Y.: Net profit After Taxation Rs. 642.75 Lakhs]

4. Change of Name

There is no change in the name of the Company during the financial year under review i.e., 1 st April, 2024 to 31st March, 2025.

5. Deposits

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on deposits from public was outstanding as on the date of the balance sheet.

6. Companys performance

On a Consolidated basis, the revenue from operations for financial year 2024-25 was at Rs. 16,255.85 Lakhs- as against Rs. 16,309.93 Lakhs for the financial year 2023-24 and the profit/loss for the financial year 2024-

25 was Rs. (1164.88) Lakhs as against Rs. 642.75 Lakhs for the financial year 2023-24.

On a Standalone basis, the revenue from operations for financial year 2024-25 was at Rs. 16047.26 Lakh as against Rs. 15,007.46 Lakhs for the financial year 2023-24. The profit for the financial year 2024-25 was Rs. 598.59 Lakhs as against Rs. 607.19 Lakh- for the financial year 2023-24.

7. Brief Description of the Companys working during the year/State of Companys Affair

Your Company is leading in automation world from more than a decade serving in Automotive, Non- Automotive, General Industries & also in Government Sector. ARAL has customer base in India & other parts of

Asia and world. ARAL is a Turnkey Automation Solution provider for all kind of Industrial Automation needs such as Line Automation, Assembly Line, Conveyor,

Robotic Inspection Stations, Pick & Place Systems,

Gantry, Auto Assembly stations, Robotic Welding Cell

& Lines, Fixed, Indexing & Rotary type Welding fixtures,

Spot, Mig, Tig Welding Robotic Cell, SPMs for Welding,

Pneumatic, Hydraulic, Hydro-pneumatic SPMs, Jigs, Gauges & Fixtures. Automatic Car Parking System is also Companys major area of expertise.

8. Contingencies & Events Occurring after Balance

Sheet Date

a) Contingencies Occurring after Balance Sheet

Date

No such Liabilities were noticed which are contingent in nature.

b) Events Occurring after Balance Sheet Date

No Such event occurred after balance sheet date.

9. Change in the nature of Business, if any

There is no change in the nature of business during the financial year.

10. Material Changes and Commitments, if any, affecting the Financial Position of the Company which have occurred between or at the end of the financial year of the Company to which the Financial Statements relate and the date of the report

All Material Changes and Commitments, affecting the Financial Position of the Company which have occurred between or at the end of the financial year of the Company to which the Financial Statements relate and the date of the report are mentioned under applicable heads under this report or the Corporate Governance

Report as the case may be.

11. Auditors

The company at its Annual General Meeting held on 29th September, 2022, had appointed M/s. Vijay Moondra & Co, Chartered Accountants, Ahmedabad (FRN 112308W), as the Auditors of the Company for the next five consecutive financial years.

12. Secretarial Audit

Pursuant to the provisions of Section 204 of the Companies Act 2013, every listed company and company belonging to class of companies as prescribed is required to annex with its Boards Report, a Secretarial Audit Report given by a Company Secretary in Whole time Practice.

The Board of Directors has appointed Meenu Maheshwari, Practicing Company Secretaries, Ahmedabad as the Secretarial Auditor of the Company.

The Report of the Secretarial Auditor for FY25 is annexed herewith as Annexure - A

13. Internal Audit

The Company has appointed M/s. MGAM & and

Co., Chartered Accountants. as Internal Auditor of the company as required under section 138 of the Companies Act, 2013.

14. Auditors Qualifications

The statutory auditors of the company have not made any qualification, reservation or adverse remark or disclaimer in their report. The observation made in the Auditors Report read together with relevant notes thereon are self-explanatory and hence, do not call for any further comments under Section 134 of the Companies Act, 2013.

15. Number of meetings of the Board

Seven (7) meetings of the Board were held during the year. The gap between two board meetings was within the time prescribed under the Act and SEBI Listing Regulations.

During FY25, Independent Directors held their separate meetings on March 24, 2025 in accordance with the requirements of Schedule IV of the Act, Secretarial Standard-1 on Board Meetings issued by the Institute of Company Secretaries of India and the SEBI Listing Regulations.

16. Directors and key managerial personnel

Mr. Rahul Padole (DIN 07891092), Director liable to retire by rotationandbeingeligible,offered himself for re- appointment.

Pursuant to the provisions of Section 149 of the Act, Mr.

Bharat Kishore Jhamvar, Mr. Ajay Vishnu Deshmukh, Mr. Shailesh Shreekant Pandit and Mr. Rohan Vijay Akolkar are Independent Directors of the Company. They have submitted a declaration that each of them meets the criteria of independence as provided in Section 149(6) of the Act and Regulation 16(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”).

During the year, Mrs. Bhagirathi Manohar Padole, non-executive director of the Company resigned from her position die to her personal and unavoidable circumstances with effect from November 17, 2024.

The board of directors appointed of Mrs. Priyanka Rahul Padole as an Additional Director (Executive) of the

18, 2024.company

Pursuant to the provisions of Section 203 of the Act, the Key Managerial Personnel of the Company on March 31, 2025 are:

Mr. Milind Manohar Padole, Managing Director, Mr.

Sengunthar Dakshnamurthy Kalidas, Chief Financial Officer and Mrs. Ruchika Shinde, Company Secretary.

17. Particulars of Employees:

The remuneration paid to the Directors is in accordance with the Nomination and Remuneration Policy formulated in accordance with Section 178 of the Companies Act, 2013 and Regulation 19 of the Listing

Regulations (including any statutory modification(s) or re-enactment(s) for the time being in force).

As per the provisions of Section 136(1) of the Act and Rule 5 of the Rules, Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the

Report and Financial Statements are being sent to the

Members of the Company excluding the statement of particulars of employees under Rule 5(2) of the Rules. Any Member interested in obtaining a copy of the said statement may write to the Company Secretary at the

Registered Office of the Company.

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Act, read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are annexed to this report as Annexure - C

18. Remuneration Policy:

The remuneration paid to the employees are as per the remuneration policy made by the company.

19. Declaration of Independence by Independent

Directors

The Board confirms that all Independent Directors of your Company have given a declaration to the Board that they meet the criteria of independence as prescribed under Section 149 of the Act.

Separate meetings of the Independent Directors have been held during the Financial Year 2024-25 in which the

Independent Directors have transacted the following business:

1. Reviewed the performance of the Management of the Company

2. Discussed the quality, quantity and timeliness of the flow of information between the Directors and the

Management of the Company

3. Discussed the strategic matters of the Company.

21. Performance Evaluation of the Board, its

Committees and Directors

The Company conducted the annual performance evaluation of the Board, its various Committees and the Directors individually. The performance of the Board was evaluated by the Board after seeking inputs from all the directors and senior management on the basis of criteria such as the board composition and structure, effectiveness of board processes, information and functioning, etc. Board is being involved and briefed on all important issues. Very high levels of engagement were observed and the opinions of each other were respected.

22. Audit Committee

The details pertaining to the composition, terms of reference and other details of the Audit Committee of the Board of Directors of your Company and the meetings thereof held during the Financial Year are given in the section “Corporate Governance Report” forming part of this Annual Report. The recommendations of the Audit Committee in terms of its Charter were accepted by the Board of Directors of the Company from time to time during the year under Report.

23. Employees remuneration

There were no employees during the year drawing remuneration in excess of limits specified under Rule

5 (2) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

24. Employee stock option plans

The Company has not issued any stock options to its employees during the year 01.04.2024 to 31.03.2025 and hence, the details as provided in rule 12 (9) of Companies (Share Capital and Debentures) Rules, 2014, are not applicable.

However, the Company got an approval from shareholder by way of Postal Ballot in month of May

2021 for “AFFORDABLE ROBOTIC AND AUTOMATION

LIMITED EMPLOYEE STOCK OPTION PLAN 2021

(“ESOP 2021”/ “PLAN”)” which rolled out in the year 2022-23 on the basis of the performance of the employees in the

Hence, during the Financial Year 2022-23, the

Nomination Remuneration and compensation committee has recommended the name of the eligible employees for grant of options under “ESOP

2021” /” PLAN”. In terms of the recommendation by the Nomination Remuneration and compensation committee, the Board decided to grant stock options to select employees under the existing Affordable Robotic & Automation Limited Stock Option Plan 2021 (“ESOP 2021”/ “PLAN”).

10714 (Ten Thousand Seven Hundred and Fourteen) options be and are hereby granted to the persons as detailed in the list. For the same, intimation was given to BSE Limited on April 22, 2022 pursuant to Regulation 30 of SEBI(LODR) Regulations, 2015

25. Particulars required as per Section 134 of the

Companies Act, 2013

As per Section 134 of the Act, your Company has provided the Consolidated Financial Statements as on March 31, 2025. Your Directors believe that the consolidated financial statements present a more comprehensive picture as compared to standalone financial statements. These documents will also be available for inspection during the business hours at the

Registered Office of your Company and the respective subsidiary companies. A statement showing financial highlights of the subsidiary companies is enclosed to the consolidated financial statements.

26. Consolidated financial statements

Consolidated financial statements of your Company and its Subsidiary as at March 31, 2025 are prepared in accordance with applicable provisions of Companies Act 2013 and the Rules made thereunder, and form part of this Annual Report.

27. Share Capital

Atpresent,theAuthorisedShareCapitalofyourcompany as on the date of this report is Rs. 12,00,00,000/- (Twelve

Crores Only) consisting of 1,20,00,000 Equity Shares of Rs. 10/- (Ten) each. The Issued, Subscribed, called up and paid-up Share Capital of your Company is Rs. 11,24,62,660/- (Eleven Crores Twenty-Four Lakhs Sixty-Two Thousand Six Hundred & Sixty Only) consisting of 1,12,46,266 Equity Shares of Rs. 10/-(Ten) each fully paid up. The company was initially listed on the BSE

SME platform through its Initial Public Offering (IPO) in June 2018.

During the year, the Company has successfully migrated year, 2021-22. to the main boards of both BSE and NSE. All shares of the Company are in the dematerialized form.

28. Subsidiary Companies, Associate Companies and

Joint Ventures

The Company has 5 subsidiary Companies as on March 31, 2025. There are no associate companies or joint venture companies within the meaning of Section 2(6) of the Companies Act, 2013 (“Act”).

ARAPL RaaS Private Limited is a subsidiary company of Affordable Robotic Automation Limited, holding

83.54% Holding. The Company was incorporated on 17th October 2021 for carrying on business of godown / warehouse automation.

The Company has also formed ARAPL North America LLC, but any investment is not done till date. “ARAPL

North America LLC” is incorporated in United States of America (USA). During the year under review, ARAPL

North America LLC was closed and the same was approved by the US authorities on December 18, 2024.

***

ARAPL RaaS US, INC is under legal procedure for its closure.

ARAPL Intelligent Equipment Shanghai Co. Ltd (China) subsidiary is under legal procedure for its closure.

Masterji.AI Private Limited is a subsidiary company of Affordable Robotic Automation Limited, holding

67% of Stake. The Company was incorporated on 30th December 2020 for carrying on business of formal and informal education to train students in both India and abroad for various educational programs through e- learnings. To Enhance education by developing Products using latest technology tools using different mediums including internet, satellite, television, mobile, tablets, Holograms, AGV and AI etc.

ARAPL RaaS International LLC is step subsidiary of

Affordable Robotic & Automation Limited as it is direct subsidiary of ARAPL RaaS Private Limited. It was incorporated North Carolina, United states of America in August 2022.

Pursuant to the provisions of Section 129(3) of the Act, a statement containing thesalientfeaturesoffinancial statements of the Companys subsidiaries in Form AOC-1 is attached to the financial statements of the

Company.

Further, pursuant to the provisions of Section 136 of the Act, the financial statements of the Company, consolidated financial statements along with relevant documents and separate audited financial statements in respect of subsidiaries, are available on the website of the Company.

S. No	Name and address of the company	CIN/GLN	Holding/ Subsidiary/ Associate	% Of Shares Held	Applicable Section
1	ARAPL Intelligent Equipment Shanghai Co. Ltd	NA	Subsidiary	80%	2(87)
2	Masterji.AI Private Limited	U80903PN2020PTC197332	Subsidiary	67%	2(87)
3	ARAPL RaaS Private Limited	U74999PN2021PTC205251	Subsidiary	83.54%	2(87)
4	ARAPL RaaS International LLC (Direct subsidiary of ARAPL RaaS Private Limited)	NA	Step Subsidiary	83.54%	2(87)
5	ARAPL RAAS US, INC (on going closure process)	NA	Subsidiary	100%	2(87)

29. Particulars of Loans and Guarantees given and

Investments made

Loans, guarantees and investments covered under Section 186 of the Act form part of the notes to the financial statements provided in this Annual Report.

30. Related Party Transactions

The Policy to determine materiality of related party transactions and dealing with related party transactions as approved by the Board of Directors.

During the year under review, your Company had not entered into any material transaction with any party who is related to it as per the Act. There were certain transactions entered into by your Company with its foreign subsidiaries and other parties who are related within the meaning of Indian Accounting Standard (Ind

AS) 24. The Board of Directors confirms that none of the transactions with any of related parties were in conflict with your Companys interest.

All related party transactions are entered into on an arms length basis, are in the ordinary course of business and are intended to further your Companys interests.

The information on transactions with related parties pursuant to Section 134(3)(h) of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014 are given in Form No. AOC-2 and the same forms part of this report.

31. Vigil Mechanism/Whistle Blower Policy

The Company has a vigil mechanism named Whistle Blower Policy to deal with instance of fraud and mismanagement, if any. A vigil (Whistle Blower) mechanism provides a channel to the employees and Directors to report to the Management, concerns about unethical behavior, actual or suspected fraud or violation of the Codes of Conduct or Policy. The mechanism provides for adequate safeguards against victimization of employees and Directors to avail of the mechanism and also provide for direct access to the

Managing Director / Chairman of the Audit Committee in exceptional cases.

32. Corporate Governance

A separate section on Corporate Governance with a detailed compliance report as stipulated under the Listing Regulations and any other applicable law for the time being in force forms an integral part of this Report.

Compliance Certificate from the Practicing Company

Secretary regarding compliance of conditions of Corporate Governance as stipulated in the Listing Regulations (as applicable to BSE NSE platform listed Companies) forms part of this Annual Report.

33. Management Discussion and Analysis

Report on Management Discussion and Analysis as stipulated under the Listing Regulations and any other applicable law for the time being in force based on audited, consolidated financial statements for the Financial Year 2024-25 forms part of this Annual Report.

34. Business Responsibility Report

Report on Business Responsibility as stipulated under the Listing Regulations and any other applicable law for the time being in force describing the initiatives taken by the Management from an environmental, social and governance perspective.

35. Conservation of energy, Technology absorption and Foreign Exchange Transactions:

A Conservation of energy

Energy conservation continues to receive priority attention at all levels. All made to conserve and optimize use of energy with continuous monitoring, improvement in maintenance and distribution systems and through improved operational techniques.

A Technology absorption

The Company continues to adopt and use the latest technologies to improve the productivity and quality of its products and services.

A Foreign Exchange Transactions

Transactions denominated in foreign entiated rewardscurrency are recorded at the exchange rate prevailing at the date of transaction. Exchange differences arising on the foreign exchange transaction settled during the period are recognized in the Profit and Loss

Account. Monetary items outstanding on date of Balance sheet have been accounted at exchange rate as on that date and difference has been charged to Profit and Loss account.

A Foreign exchange earnings and outgo

(INR)

Particulars	2024-25
Earnings	0 Lakhs
Outgo	15.85 Lakhs

36. Corporate Social Responsibility (CSR)

According to Section 135 of the Companies Act, 2013, CSR is applicable to the company for the year under review. The Company contributed a total CSR expenditure of 12,05,430 in the previous year by way of a donation to Vrundavan Educational Trust (Reg. F-41477/Pune) towards community development and educational upliftment in the Pune region. Out of this,

8,79,936 was carried forward and adjusted against the current years obligation. The Annual Report on CSR activities, including details of the CSR Policy formulated and implemented by the Company along with the initiatives undertaken during the year, is annexed to this

Report as Annexure D

37. Human Resources

Your Company treats its “human resources” as one of its most important assets. Your Company continuously invest in attraction, retention and development of talent on an ongoing basis. Your Company thrust is on the promotion of talent internally through job rotation and job enlargement. are The Company believes in the immense potential of its human capital and acknowledges that employees are the core growth engine for the Company. The Company is committed to creating an inclusive, performance oriented and entrepreneurial culture that allows it to bring the best out of every individual and team. The Company is committed to creating an equal opportunity workplace, which promotes openness and diversity. The Company has a strong employee value proposition that focuses on challenging work that matters, hiring and retaining the right people, sustained focus on talent and driveleadershipdevelopment, exceptional performance and community engagement.

38. Transfer of Amounts to Investor Education and

Protection Fund

Your Company did not have any funds lying unpaid or unclaimed for a period of seven years. Therefore, there were no funds which were required to be transferred to

Investor Education and Protection Fund (IEPF).

39. Listing with Stock Exchanges

The company has listed its share with BSE Limited, under (Small & Medium Enterprises) SME platform of BSE Limited, in the month of June 2018 by way of Initial Public Offer (IPO). Further, the Company has passed a Resolution for the “Migration of Equity Shares of the Company from SME Platform of BSE to Main Board of

BSE as well as Main Board of NSE”. Further, during the year under review, the Company successfully migrated from the BSE SME Platform to the Main Board of both BSE and NSE.

40. Disclosure relating to equity shares with differential rights:

The Company has not issued any equity shares with differential rights during the year under review and hence no information as per provisions of Rule 4(4) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

41. Disclosure relating to sweat equity shares:

The Company has not issued any sweat equity shares during the year under review and hence no information as per provisions of Rule 8(13) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

42. Disclosures in respect of voting rights not directly exercised by employees:

Therearenosharesheldbytrusteesforthebenefit of employees and hence no disclosure under Rule 16(4) of the Companies (Share Capital and Debentures) Rules, 2014 has been furnished.

43. Fraud Reporting

During the year under review no instances of fraud were reported by the Statutory Auditors of the Company.

44. Adequacy of Internal Financial Controls

The Board is responsible for establishing and maintaining adequate internal financial control as per

Section 134 of the Act.

The Board has laid down policies and processes in respect of internal financial controls and such internal operating effectively. The internal financial controls covered the policies and procedures adopted by your

Company for ensuringorderlyandefficientconduct of business including adherence to your Companys policies, safeguarding of the assets of your Company, prevention and detection of fraud and errors, accuracy and completeness of accounting records and timely preparation of reliable financial information.

45. Directors Responsibility Statement

Pursuant to Section 134(5) of the Act, the Board of Directors, to the best of its knowledge and ability, confirm that:

i. In the preparation of the annual accounts, the applicable accounting standards have been followed and there are no material departures; ii. They 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 profit of the Company for that period; iii. They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; iv. They have prepared the annual accounts on a going concern basis; v. They have laid down internal financial controls to be followed by the Company and such internal financial controls are adequate and operating effectively; vi. They have devised proper systems to ensure compliance with the provisions of all applicable Laws and that such systems are adequate and operating effectively.

46. MANAGEMENT DISCUSSION AND ANALYSIS

The Management Discussion and Analysis forms an integral part of this report and gives details of the overall industry structure, economic developments, outlook, operational performance and state of affairs of your Company.

47. Extract of Annual Return controls were adequate and were

Pursuant to the provisions of the Section 92(3) of the Act read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014, the extract of Annual

Return of your Company for the Financial Year ended on March 31, 2025 is provided as Form No. MGT-9 to the

Directors Report.

48. Risk management

The Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key business objectives. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuing basis. These are discussed at the meetings of the Board of Directors of the Company.

The Companys internal control systems are commensurate with the nature of its business and the size and complexity of its operations. These are routinely tested and certified by the Statutory Auditors of the Company. Significant audit observations and follow up actions thereon are reported to the Board. The Board of Directors reviews adequacy and

Companys internal control environment and monitors the implementation of audit recommendations.

49. Cybersecurity Risk Management

The Company recognizes cybersecurity as a critical component of its overall risk management framework. During the year under review, the Company strengthened its cybersecurity systems by enhancing IT infrastructure, conducting regular vulnerability assessments, implementing multi-factor authentication, and providing cybersecurity awareness training to employees. The Risk Management Committee and the Board periodically reviewed the adequacy and effectiveness of these measures.

No material cybersecurity incidents were reported during FY 2024 25. The Company continues to invest in advanced monitoring tools and follows best practices to ensure the confidentiality, integrity, and availability of its data and digital assets

50. Cost Audit

During the year under review, your company fall within the ambit of the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Cost records & Audit) Rules, 2014, therefore cost auditor was required to be appointed.

Mr. Vivek Mukherjee, Practicing Cost Accountant was appointed to conduct cost audit of the company for the year.

51. Disclosure under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and

Redressal) Act, 2013

Your Company has an Anti-Sexual Harassment Policy in place which is in line with requirements of the Sexual

Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

All employees (permanent, contractual, temporary and trainees) are covered under this policy.

During the year under report, your Company did not receive any case of sexual harassment and hence as on March 31, 2025, there were no pending cases of sexual harassment in your Company.

Complaints filed under the Sexual Women at Workplace (Prevention, Prohibition and

Redressal) Act, 2013

Particulars	FY 2024-25	FY 2023-24
Total of the Complaints reported under Sexual	-	-
Harassment on of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH) Complaints on POSH as	-	-
a % of female employees / workers
Complaints on POSH upheld	-	-

52. Details of significant the regulators or courts or tribunals impacting the going concern status and companys operations in future:

There are no orders passed by the regulators or courts or tribunals impacting the going concern status and companys operations in future.

53. Acknowledgements

The Directors thank the Companys employees, customers, vendors, investors and others for their continuous support. The Directors also thank the Government of India, Governments of various states in India, Governments of various countries and concerned

Government departments and agencies for their cooperation. The Directors appreciate and value the contribution made by every member of the ARAL family.

On behalf of the Board of Directors of
Affordable Robotic & Automation Limited
Milind Padole	Manohar Padole
Managing Director	Whole time Director
DIN: 02140324	DIN: 02738236
Date: August 29, 2025
Place: Pune