Alexander Stamps & Coin Ltd Directors Report

To,

The Members,

Alexander Stamps and Coin Limited, Vadodara.

Your directors have the pleasure in presenting their 33rd Annual Report on the business and operations of the Company and the accounts for the Financial Year ended on March 31, 2025.

1. FINANCIAL SUMMARYOR HIGHLIGHTS (STANDALONE):

The Boards Report have been prepared based on the standalone financial statements of the company.

(Rs. in Lakhs)

Particulars	2024-25	2023-24
Gross Turnover (including Other Income)	44.47	36.25
Profit/ Loss before Interest and Depreciation (EBIDTA)	(1.32)	(7.33)
Finance Charges	-	-
Depreciation and Amortization	2.50	2.52
Total Expenditure	48.30	46.10
Net Profit / (Loss) Before Tax (PBT)	(3.82)	(9.85)
Less: Tax expense	-	-
Net Profit / (Loss) After Tax (PAT)	(3.82)	(9.85)
Other Comprehensive Income	-	-
Total Comprehensive income	-	-
Balance of Profit / (Loss) brought forward	-	-
Balance available for appropriation (after adjusting other equity)	-	-
Surplus / (Deficit) carried to Balance Sheet	(3.82)	(9.85)

2. BRIEF DESCRIPTION OF THE COMPANYSWORKING DURING THE YEAR/STATE OF COMPANYS AFFAIRS:

The Company is in the business of philatelic and numismatic activities. The Company is one of the leading organizations which is dealing in philatelic and numismatic activity. The stamps possessed by the Company are rare collections and collected by various Philatelists. People can also place order from the website of the Company to purchase these precious assets at predetermined prices fixed by the Company from time to time.

The department of Numismatics and Philately features remarkable collections of coinsand stamps. These collectibles offer a visceral connection to the past with their historical value and geographical aspects. Our collection is enriched with rare antique pieces that are commemorative of fragments of time. Collecting such keepsakes is like collecting pieces of time itself. Our Numismatics division has curated rare vintage coins and currency notes that have been long out of circulation from countries such as India, Mauritius, Malaya, Pakistan, and others.

Alexander is an iconic brand with deeply rooted aspirational values in each of its product offerings. Our endeavor would be to make our brand, products as well as the overall experience, "Young, contemporary and ever-evolving" in the eyes of our customer.

Besides strengthening our traditional core values of superior quality and unapparelled product range for consumers cutting across different social spectra, our focus will be to grow our consumer franchise.

In addition to this, the Company is also planning to have its own gallery wherein the Company will place on exhibition, various stamps and other related literature which includes exhibition on Mahatma Gandhis Stamps issued by the Government of India from time to time. Keeping in view the above-mentioned requirements, the Company is in the process of identification of a suitableplace in Vadodara city. However, the Company is also in discussion with various Philatelists and other organizations to have various exhibitions to promote philatelic activity in our nation.

Further, to promote digitalization, the Company has also purchased website namely www.indianstampghar.com which will in turn surely strengthen the business of the Company.

During the year under review ended on March 31, 2025, your Company has incurred a loss after tax amounting to Rs 3.82/- lakhs as compared to loss of Rs. 9.85/- lakhs registered duringthe previous year ended on March 31, 2024.

The Company has taken several measures to ensure the well-being of its employees including leveraging the power of technology to enable them to work from home. Further, standing by its core commitment the Company is navigating through these unprecedented times by building stronger and deeper relationships with consumers and its partners.

The Board is in talks to have a collaboration in the field players like "Bombay Auctions" where they are another significant player in the field of numismatics and philately in India. Established in 1995, they have over two decades of experience. They operate as numismatic and philatelic dealers, contributing to market trends and creating value for collectors.

We will continue our efforts with zeal and enthusiasm to create a better future and offer better value to all our stakeholders.

3. REPORT ON PERFORMANCE AND FINANCIAL POSITION OF SUBSIDIARIES, ASSOCIATES AND JOINT VENTURE COMPANIES:

The Company does not have any Subsidiaries, Associate and Joint Venture Companies. Hence, details for the same are not required to be mentioned in the report.

4. MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICHTHESE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:

There have been no material changes and commitments, which affect the financial position of the company which have occurred between the end of the financial year to which the financial statements relate and the date of this report.

5. DIVIDEND:

Considering the financial position of the Company, the Board of Directors have not recommended dividend for the year 2024-25.

6. RESERVES:

The Company has not transferred any amount to general reserve for the year ended on 31st March, 2025.

7. BORROWINGS:

The total borrowings of the Company including long-term loans, Unsecured Loans and working capital facilities stood at Rs. 15,55,000/- (Rupees Fifteen Lakhs Fifty-Five thousand) as on 31st March 2025.

8. ANNUAL RETURN:

The Annual Return of the Company for the FY 2024-25 in the prescribed form MGT-7 as required under section 92(3) of the Act will be available on the website of the Company i.e. www.alexanderstamps.in.

9. CHANGE IN NATURE OF BUSINESS:

The Company did not change its nature of Business during the period under review.

10. DIRECTORS AND KEY MANAGERIAL PERSONNEL:

a) Change in Directorship:

There is change in the constitution of the Board of the Directors during the financial year. Ms. Divya Batra, Ms. Tanmaya Arora and Mr. Nikhil Kapoor are appointed as an Additional Directors with effect from 20th August, 2024. Said Directors are going to regularize in the ensuing Annual General Meeting subject to the approval of Shareholders.

b) Cessation of Directors:

During the year under review, Mr. Vipulchandra Pravinchandra Thakkar, Ms. Alka Sawhney and Ms. Diksha Kapur are ceased from the post of Director due to prior commitments and limited availability with effect from 20th August, 2024.

Further, Mr. Kiran Prakash Shah also ceased to be a Director of the Company after the end of the financial year due to his unfortunate demise. The Board places on record its deep appreciation for the valuable contributions made by him during his tenure and extends heartfelt condolences to his family.

c) Declaration by Independent Directors:

As per the requirement of Section 149 (7) of the Act, Ms. Divya Batra, Mr. Jignesh Soni and Mr. Nikhil Kapoor, the Independent Directors of the Company, have submitted their respective declarations that they fulfil the criteria of independence under Section 149 of the Act, read with Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

d) Director retiring by rotation:

In accordance with the provisions of the Act and the Companys Articles of Association, Mr. Anirudh Sethi (DIN: 06864789), retires by rotation and the Board of Directors, on the recommendation of the Nomination and Remuneration Committee, has recommended their re-appointment.

11. NUMBER OF MEETINGS OF THE BOARD:

During the financial year, the Board met Eleven (11) times as tabled below. A calendar of Meeting is prepared and circulated in advance to the Directors. The gap between any two consecutive Board Meetings did not exceed One Hundred and Twenty days. During the year under review, the following meetings have been duly held-

• Board Meetings:

Sr. No.	Dates on which the Board Meetings were held	Total Strength of the Board	No. of Directors Present
01.	05-04-2024	6	6
02.	24-05-2024	6	6
03.	30-06-2024	6	6
04.	05-07-2024	6	6
05.	12-08-2024	6	6
06.	20-08-2024	6	6
07.	12-11-2024	6	6
08.	16-12-2024	6	6
09.	08-01-2025	6	6
10.	20-01-2025	6	6
11.	11-02-2025	6	6

 

Name of Director

Attendance at the Board Meetings held on

Attendance at the AGM held on 10/08/2024

05-04-2024

24-05-2024

30-06-2024

05-07-2024

12-08-2024

20-08-2024

12-11-2024

16-12-2024

08-01-2025

20-01-2025

11-02-2025

Mr. Anirudh P. Sethi

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Ms. Alka Sawhney

Y

Y

Y

Y

Y

Y

N

N

N

N

N

Y

Mr. Jignesh Soni

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Mr. Kiran Prakash Shall

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Y

Ms. Diksha Kapur

Y

Y

Y

Y

Y

Y

N

N

N

N

N

Y

Mr.Vipulchandra Thakkar

Y

Y

Y

Y

Y

Y

N

N

N

N

N

Y

Ms. Divya Batra

N

N

N

N

N

N

Y

Y

Y

Y

Y

N

Ms. Tanmaya Arora

N

N

N

N

N

N

Y

Y

Y

Y

Y

N

Mr. Nikhil Kapoor

N

N

N

N

N

N

Y

Y

Y

Y

Y

N

12. COMMITTEES OF THE BOARD:

(a) Audit Committee

The composition of the Committee is as per the requirements of the provisions of Section 177 of the Act. Mr. Jignesh Soni is the Chairman of the committee and Mr. Anirudh Sethi (Managing Director), Ms. Diksha Kapur (Independent Director, resigned on 20-08-2024), Mr. Vipulchandra Thakkar (Independent Director, resigned on 20-08-2024), Ms. Divya Batra(appointed as Independent Director on 20-08-2024), and Mr. Nikhil Kapoor (appointed as Independent Director on 20-08-2024) are the members.

The Committee was reconstituted during the year owing to the above- mentioned resignations and new appointments.

Ms. Devanshi Shah initially acted as the Secretary to the Committee; following her departure from the Company, Mr. Smit Agrawal is currently serving in that role, the said committee met on four occasions with attendance of all the members as mentioned in the table below:

The composition of the Audit Committee as at March 31, 2025 and details of the Members participation at the Meetings of the Committee are as under:

Name of Director	Designation	Attendance at the Committee Meetings held on
		04-04-2024	23-05-2025	04-07-2024	11-11-2024	10-02-2025
Mr. Jignesh Soiii	Independent Director	Y	Y	Y	Y	Y
Mr. Vipulchandra Thakkar	Independent Director	Y	Y	Y	N	N
Mr. Anirudh Sethi	Managing Director	Y	Y	Y	Y	Y
Ms. Diksha Kapur	Independent Director	Y	Y	N	N	N
Ms. Divya Batra	Independent Director	N	N	N	Y	Y
Mr. Nikliil Kapoor	Independent Director	N	N	N	Y	Y

The Audit Committee continues to provide valuable advice and guidance in the areas of costing, finance, and internal financial controls. The Committee is governed by terms of reference, which are in line with the regulatory requirements mandated by the Companies Act, 2013 and Listing Regulations.

The Committee is governed by a Charter which is in line with the regulatory requirements mandated by the Companies Act, 2013 and SEBI (LODR), 2015.

All the Members on the Audit Committee have the requisite qualification for appointment on the Committee and possess sound knowledge of finance, accounting practices and internal controls.

During the year under review, the Audit Committeeheld a separate meeting with the Statutory Auditors and theInternal Auditor to get their inputs on significant matters relating to their areas of audit.

(b) Nomination and Remuneration Committee (NRC Committee)

In compliance with Section 178 of the Companies Act, 2013, the Board has reconstituted the Nomination and Remuneration committee due to the resignation and subsequent appointment of Independent Directors during the year. Mr. Nikhil Kapoor has been appointed as a chairman in place of Mr. Vipulchandra Thakkar and Ms. Divya Batra has been appointed as a member in place of Ms. Diksha Kapur.

The Committee is governed by terms of reference, which are in line with the regulatory requirements mandated by the Companies Act, 2013 and Listing Regulations.

The terms of reference of the Committee, inter alia, include the following:

• Succession planning of the Board of Directors and Senior Management Employees;

• Identifying and selection of candidates for appointment as Directors / Independent Directors based on certain laid down criteria;

• Identifying potential individuals for appointment as Key Managerial Personnel and to other Senior Management positions;

• Formulate and review from time to time the policy for selection and appointment of Directors, Key Managerial Personneland senior management employees and their remuneration;

Review the performance of the Board of Directors and Senior Management Employees based on certain criteria as approved by the Board.

The composition of the Remuneration Committee as at March 31, 2025 and details of the Members participation at the Meetings of the Committee are as under:

Name of Director	Designation	Attendance at the Remuneration Meetings held on
		04-07-2024	19-08-2024	11-11 2024	25-03-2025
Mr. Yipuichandra Thakkar	Chairman & Independent Director (Resigned on 20-08-2024)	Y	Y	N	N
Ms, Diksha Kapur	Member & Independent Women Director (Resigned on 20-08-2024)	Y	Y	N	N
Mr. Anirudh Sethi	Member & Managing Director	Y	Y	Y	Y
Mr. Jignesk Soni	Member & Independent Director	Y	Y	Y	Y
Ms, Divya Batra	Independent Director (Appointed on 20-08-2024)	N	N	Y	Y
Mr, Nikhil Kapoor	Chairman & Independent Director (Appointed on 20-08-2024)	N	N	Y	Y

(c) Stakeholders Relationship Committee

In compliance with the provisions of Section 178 of the Companies Act, 2013 and the SEBI (LODR) Regulation, 2015, the Board has reconstituted the "Stakeholders Relationship Committee" due to the resignation and subsequent appointment of Independent Directors during the year.

Ms. Divya Batra and Mr. Nikhil Kapoor has been appointed as a member in place of Ms. Diksha Kapur and Mr. Vipulchandra Thakkar.

The composition of the Stakeholder and relationship Committee as at March 31, 2025 and details of the Members participation at the Meetings of the Committee are as under:

Name of Director	Designation	Attendance at the Stake holder and relationship Committee held on:
		20-01-2025
Ms. Diksha Kapur	Independent Director	1ST
Mr. Vipulcliandra Thakkar	Independent Director	N
Mr. Anirudh Setlii	Managing Director	Y
Ms. Divya Batra	Independent Director	Y
Mr. Nikhil Kapoor	Independent Director	Y

During the year, following complaints have been received and resolved:

Sr. No.	Name	Particulars
01.	Suman Joshi	Claim of equity shares based on forged share certificates

(d) Independent Directors Meeting

During the year under review, the Independent Directors had their meeting on 12th March, 2025 inter alia, to discuss:

• Evaluation of the performance of Non-independent Directors and the Board of Directors as a whole.

• Evaluation of the performance of the chairman of the Company, taking into account the views of the Executive and Non-executive Directors.

• Evaluation of the quality, content and timelines of flow of information between the Management and the Board that is necessary for the Board to effectively and reasonably perform its duties.

• All the Independent Directors were present at the Meeting.

13. ANNUAL EVALUATION:

Pursuant to the provisions of the Act and Regulation 25 of the Listing Regulations, the Board has carried out an annual evaluation of its own performance, performance of the Directors individually as well as the evaluation of the working of the Committees.

The following process was adopted for Board evaluation:

i. Feedback was sought from each Director about their views on the performance of the Board covering various criteria such as degree of fulfilment of key responsibilities, Board structure and composition, establishment, and delineation of responsibilities to various Committees, effectiveness of Board processes, information and functioning, Board culture and dynamics, qualityof relationship between the Board and the Management and efficacy of communication with external stakeholders.

ii. The feedback received from all the Directors was discussed at the Meeting of Independent Directors and the NRC. The performance of the Non-Independent Non-Executive Directors and Board Chairman was also reviewed by them.

iii. The collective feedback on the performance of the Board (as a whole) was discussed by the Chairperson of the NRC with the Chairman of the Board. It was also presented to the Board.

iv. Assessment of performance of every statutorily mandated Committee of the Board was conducted and these assessments were presented to the Board for consideration. Areas on which the Committees of the Board were assessed included degree of fulfilment of key responsibilities, adequacy of Committee composition and effectiveness of Meetings.

v. During the year under review, the recommendations made in the previous year were satisfactorily implemented.

Based on the annual evaluation process and the overall engagement of the Independent Directors in the affairs of the Company during the year, the Board of Directors are of the opinion that the Independent Directors of the Company possess, practice, and preach highest standards of integrity and have the required experience and expertise in their respective areas which enable them to provide guidance to the Management and adds value in the Companys decision process.

14. DIRECTORSRESPONSIBILITY STATEMENT:

Based on the framework of internal financial controls and compliance systems established and maintained by the Company, the work performed by the Internal, Statutory and Secretarial Auditorsand the reviews performed by the Management and the relevant Board Committees, including the Audit Committee, the Board believes that the Companys internal financial controls were adequate and effective during the year ended 31st March 2025.

Accordingly, pursuant to Section 134(5) of the Act, based on the above and the representations received from the Operating Management, the Board of Directors, to the best of their knowledge and ability confirm that:

i. In the preparation of the annual accounts, the applicable accounting standards have been followed and that there was no material departure there from;

ii. They have, in the selection of the accounting policies, consulted the Statutory Auditors and have applied their recommendations consistently and made judgments and estimates that are reasonable and prudent to give a true and fair view of the state of affairs of the Company as at 31st March 2025 and of the loss of the Company for the year ended on that date;

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 frauds and other irregularities;

iv. They have prepared the annual accountson a going concern basis;

v. They have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively during the year ended 31st March 2025; and

vi. Proper systems have been devised to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively during the year ended 31st March 2025.

15. REMUNERATION POLICY:

Based on the recommendations of the NRC, the Board of Directors approved and adopted a remuneration policy for Directors, Key Managerial Personnel, and other employees of the Company as required under Section 178(3) of the Act. The Company has adopted Governance Guidelines which inter alia covers the composition and role of the Board, Board Appointment, Induction and Development, Directors Remuneration, Code of Conduct, Board Effectiveness Review, and mandates of the Board Committees. The remuneration policy is placed on the websiteof the Company www.alexanderstamps.in. for reference and enclosed as "Annexure 1".

16. RISK MANAGEMENT POLICY:

The Company has adopted measures for risk management and mitigation thereof. A formal risk reporting system has been devised by the Company. Project Review Committee has been constituted comprising of Directors and senior officials of the Company to review, assess and mitigate the risks, conversion of risk into opportunities, problems/ irregularities related to implementation and execution of projects (including project delay, change in scope and estimation errors) and implementation of checks and balances for proper execution of future work.

The key risk management and mitigation practices include those relating to identification of key risks associated with the business objectives, impact assessment, risk evaluation and reporting.

17. SHARE CAPITAL:

The paid-up Equity Share Capitalof the Company as on March 31, 2025 was Rs. 9,31,20,000/-. During the year under review,the company has not forfeited any shares and has not made a bonus issue to the existing shareholders.

Issue of Equity Shares on Preferential basis:

The Company has not issued any equity shares.

Issue of Shares with Differential Rights:

During the year under review, the Company has not issued any shares with differential voting rights.

Issue of Sweat Equity Share:

During the year under review, the Company has not issued any sweat equity shares.

Issue of Employee Stock Options:

During the year under review, the Company has not issued any sweat equity shares.

Provision of Money by Company for purchase of Its Own Shares by Employees or by Trustees for the Benefit of Employees:

The Company has no scheme of provision of money for purchase of its own shares by employees or by trustees for the benefit of employees. Hence the details under rule 16 (4) of Companies (Share Capital and Debentures) Rules, 2014 are not required to be disclosed.

18. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND:

The provisions relating to transferring any amounts to the Investor Education and Protection Fund is not applicable to the Company during the year under review.

19. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

Managements Discussion and Analysis Report for the year under review, as stipulated under Regulation 34 of SEBI (Listing Obligations & Disclosure Requirements) Regulation 2015 with the Stock Exchanges in India, is presented in a separate section forming part of the Annual Report as "Annexure 2".

20. PARTICULARS OF EMPLOYEES:

Pursuant to the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, statement of particulars of employees is annexed as "Annexure-3".

21. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONG WITH THEIR STATUS AS AT THE END OF THE FINANCIALYEAR: Not Applicable

22. DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE-TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THEREASONS THEREOF: Not applicable

23. INSURANCE:

All the properties including buildings, plant and machinery and stocks have been adequately insured.

24. ENVIRONMENT AND SAFETY:

The company is conscious of the importance of environmentally clean and safe operations. The Companys policy requires conduct of operations in such a manner, so as to ensure safety of all concerned, compliances of environmental regulations and preservation of natural resources.

25. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND TRIBUNALS:

No significant and material order has been passed by the regulators, courts, tribunals impacting the going concern status and companys operations in future.

26. THE DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS:

The Company has formulated an Audit Committee which meets once in every quarter to review the financial results, internal financial controls and risk management system, auditors independence, and performance etc. The Company has also appointed Internal Auditors who perform their duty on the basis of the scope of work allotted to them time to time.

27. COMPANYS POLICY RELATING TO DIRECTORS APPOINTMENT. PAYMENT OF REMUNERATION AND DISCHARGE OF THEIR DUTIES:

The Companys policy relating to appointment of Directors, payment of Managerial remuneration, Directors qualifications, positive attributes, independence of Directors & other related matters as provided under Section 178(3) and 178(4) of the Companies Act, 2013 is maintained by Company.

Nomination and Remuneration Committee has formulated a policy on remuneration of Directors, Key Managerial Personnel and Senior Management of the Company. The policy covers the appointment, including criteria for determining qualification, positive attributes, independence and remuneration of its Directors, Key Managerial Personnel and Senior Management Personnel. The Nomination and Remuneration Policy is available on Companys Website www.alexanderstamps.in.

28. DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES:

Pursuant to sub-section (3) of section 129 of the Act, the statement containing the salient feature of the financial statement of a companys subsidiary or subsidiaries, associate company or companies and joint venture or ventures is not applicable to the Company as the Company does not have any subsidiary/associate or joint venture companies.

29. CODE OF CONDUCT:

The Board of Directors has approved a Code of Business Conduct which is applicable to the Members of the Board and all employees. The Company believes in "Zero Tolerance" to bribery and corruption in any form and the Board has laid down the "Anti-Bribery & Corruption Directive" which forms an Appendix to the Code. The Code has been posted on the Companys website www.alexanderstamps.in.

30. VIGIL MECHANISM/ WHISTLE BLOWER POLICY:

In pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013 and Regulation 22 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a Vigil Mechanism for directors and employees to report genuine concerns has been established. The Vigil Mechanism Policyhas been uploadedon the website of the Company. The Audit Committee shall overseethe vigil mechanism through the committee and if any ofthe members of the committee have a conflict of interest in a given case, they should recuse themselves and the others on the committee would deal with the matter on hand.

The policy provides protection to the directors, employee and business associates who report unethical practices and irregularities.

31. PREVENTION OF INSIDER TRADING:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the Companys shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relationto the Company and duringthe period when the Trading Window is closed.

The policy related to insider trading has been uploaded on the website of the Company.

All Board of Directors and the designated employees have confirmed compliance with the Code.

32. AUDITORS OF THE COMPANY:

(a) Statutory Auditors

Pursuant to the recommendation of the Audit Committee, the Board of Directors and Members of the Company, at their respective meetings held and had approved the appointment of M/s. M Sahu &Co., Chartered Accountants (FRN- 130001W) as the Statutory Auditors of the Company for a term of 5 (five) consecutive years ("First Term") commencing from the Financial Year 2022-23 till the conclusion of 35th Annual General Meeting to be held in the calendar year 2027, at mutually agreed remuneration. Under Section 139 of the Companies Act, 2013 and the Rules made thereunder, it is mandatory to appoint Statutory Auditors by the Company.

The Auditors Report does contain a disclaimer of opinion on the financial statements for the period ended March 31, 2025. The statements made by the Auditors in their Report are self-explanatory and do not call for any further comments.

The auditors have also that they hold a valid certificate issuedby the Peer Review Board of the Institute of Chartered Accountants of India.

The Auditors have issued unmodified audit opinion on the financial statements for the financial year ended on March 31st, 2025. The Auditors Report for the financial year ended on 31st March, 2025 on the financial statement is the part of this Annual Report. The report of the Statutory Auditors is enclosed as "Annexure 6" to this report. Said report is self-explanatory and does not call for any further comments.

(b) Secretarial Auditor

In terms of Section 204 of the Act, read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, and based on the recommendation of the Audit Committee, the Board of Directors at their Meeting held on 5th July, 2024 had appointed M/s.

Kuldip Thakkar & Associates, Company Secretaries (COP No.: 22442), as the Secretarial Auditors for the financial year 2024-25.The Secretarial Audit Report for the financial year 2024- 25 in the prescribed form MR-3 on the audit carried out by the said Auditor is enclosed to this Report as "Annexure 4".

In compliance with Regulation 24A of the SEBI Listing Regulations and Section 204 of the Act, the Board at its meeting held on May 22, 2025, based on recommendation of the Audit Committee, has approved the appointment of Kuldip Thakkar & Associates, Practicing Company Secretaries, a peer reviewed firm (COP No.: 22442) as Secretarial Auditors of the Company for a term of five consecutive years commencing from FY 2025-26 till FY 2029- 30, subject to approval of the Members at the ensuing AGM.

(c) Internal Auditor

M/s. Lookman Mansuri & Associates, Chartered Accountants, Vadodara had conducted the internal audit and has submitted his report for the period ended on 31.03.2025.

Explanation or Comments on Qualifications, Reservations or Adverse Remarks or Disclaimers made by the Statutory Auditors:

St. No. Particulars

1. Non-Current Investments:

Observation:

We draw attention to the Note No 30 to the Financial Statement with respect to the Investments as stated in Non-Current Investments amounting to ENTR. 113 67.- Laos, the requisite documents with respect to this investment are not available with the Company, in the absence of sufficient information, the Management has also not prowded for any Impairment for the same and in turn we are unable to comment on the carrying value of Investment made by the Company and the consequent impact thereof on Other Comprehensive Income.

Comment of Board of Directors:

The Board is going to provide sufficient and relevant documents-data to the Auditor and keep in record for future reference. As market conditions changed, the Board has decided to invest into long term asset class for better returns. The management is also looking for compliance with the stock register within six months from the dare of this report.

2 Assessment of Income Tax Dept: -

Observation:

We draw7 attention to the Note No 27 to the Financial Statements, in respect of the Outstanding Income Tax demand for the Assessment Year 2017-2018, amounting to INR 357.63 Lakhs, for which the Company has neither filed any appeal nor created any provision in the books of accounts. Had the company has provided the same loss wrould have been higher by INR. 3 57.63 Lakhs.

Comment of Board of Directors:

The Company has considered this outstanding demand of Income Tax. For the same, the Board is gomg to take relevant action m coming month.

3. Inventory valuation:

Observation:

We draw attention to the Note No 29 to the Financial Statements, the inventories as on 31.03.2025 amounting to Rs. 1643.84/- Lakh valued as per Valuation report dated 8th May 2023, stating valuation mentioned in this report as on the date of 31st March 2023. Consequently, we had relied upon the valuation of the inventories as on 31st March 2025 on this valuation report and hence we are unable to ascertain the impact due to deviation in inventory valuation as per Ind AS 2 Inventories.

Comment of Board of Directors:

The said amount had been obtained by the Company from Independent Chartered Accountant. Inventory Valuation Report has also been submitted to Statutory Auditor within timeline for then" reference and record. Said observ ation is totally baseless and should not be part of Qualifications.

Explanation or Comments on Qualifications, Reservations or Adverse Remarks or Disclaimers made by the Secretarial Auditor:

Sr. No.	Relevant provision for Compliance Requirement	Observation	Explanation from Board of Directors
1.	Regulation 47 of SEBI (LODR) Regulations, 2015. Advertisements in Newspapers	The company has not advertised the following information:	As the Company is small scale and having no profits or reserves in the Book of Accounts. Due to lack of financial budget and administrative constraints, the Board has not come out with any advertisement. However, the Board is planning to fix this noncompliance at the earliest.
		1. Financial results;
		2. Notices given to shareholders by advertisement.
2.	Regulation 46 and 62 of SEBI (LODR) Regulations 2015	The Company was found to have inter alia not disseminated the following on its website: A. Annual reports	There was no willful default or intent to withhold information, and all disclosures had been duly approved and filed with the respective statutory authorities within prescribed timelines. However, the simultaneous reflection on the website was inadvertently delayed.
		B. Policies
		C. Code of Conducts
		D. Financial Results
		E. Corporate Governance Related data
		F. Investors Relation related details
			Upon identification of the issue, immediate corrective actions were taken. Most of the required disclosures have already been uploaded, and a system-driven compliance protocol is now in place to prevent such instances in future.

33. COST RECORDS AND COST AUDIT:

Maintenance of cost records and requirement of cost audit as prescribed under the provisions of Section 148 (l) of the Companies Act, 2013 are not applicable for the business activities carried out by the Company.

34. CERTIFICATE ON CORPORATE GOVERNANCE:

The Company is committed to maintain the highest standards of Corporate Governance and adheres to the Corporate Governance requirements set out by the Securities and Exchange Board of India ("SEBI"). The Company has also implemented several best governance practices.

The requirement to issue corporate governance report is not applicable to the Company.

Regulation 15 (2) of the Listing Regulations states that:

"The compliance with the corporate governance provisions as specified in regulations 17, 17A, 18, 19, 20, 21,22,23, 24, 24A, 25, 26, 27 and clauses (b) to (i) of sub-regulation (2) of regulation 46 and Para C, D and E of ScheduleV shall not apply, in respect of -

(a) the listed entity having paid up equity share capital not exceeding rupees ten crore and net worth not exceeding rupeestwenty-five crore, as on the last day of the previous financial year.

(b) the listed entity which has listed its specified securities on the SME Exchange.

In case of your Company, the paid-up equity share capital of the ALEXANDER STAMPS AND COIN LIMITED is Rs. 9,31,20,000/- and having total net worth of Rs. 16,79,27,582.50/- as on 31st March 2025. As per the companyfalls within the ambit of the aforesaid exemption "a," compliance with the Corporate Governance provisions specified in the aforesaid Regulations shall not be applicable to the Company.

35. DISCLOSURE UNDER THE SEXUALHARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

As per the requirement of the Sexual Harassment of Woman at Workplace (Prevention, Prohibition and Redressal) Act, 2013, the Company has formulated a Policy on Prevention of Sexual Harassment of Woman at Workplace for prevention, prohibition and redressal of sexual harassment at workplace and Internal Complaint Committee has also been set up to redress any such complaints received. Training/awareness programs are conductedthroughout the year to create sensitivity towards ensuring respectable workplace.

The Company periodically sessions for employees across the organization to build awareness about the policy and the provision of Sexual Harassment Act.

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

No sexual harassment complaint has been received by the Company during the year 2024-25.

36. VIGIL MECHANISM/ WHISTLE BLOWERPOLICY:

Pursuant to Section 177 of the Companies Act, 2013 the rules made thereunder and the Regulation 22 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has established a Vigil Mechanism for directors and employees to report genuine concerns about any instance of any irregularity, unethical practice, and/or misconduct.

37. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY & RISK MANAGEMENT:

The Company has adopted adequate internal financial controls, commensurate with the size and complexity of its operations. During the year, such controls were tested and no reportable material weakness in the design or operations was observed. The Companyhas policies and procedures in place for ensuring proper and efficient conduct of its business,the safeguarding of its assets,the prevention and detectionof frauds and errors, the accuracy and completeness of accounting records and the timely preparation of reliable financial information.

The Company has adopted accounting policies which are in line with the Indian Accounting Standards (Ind-AS) and the Act. These are in accordance with the generally accepted accounting principles in India. Changes in policies, if required, are made in consultation with the Auditors and are approved by the Audit Committee.

The Companys internal audit system is geared towards ensuring adequate internal controls commensurate with the size and needs of the business, with the objective of efficient conduct of operations throughadherence to the Companys policies, identifying areas of improvement, evaluating the reliability of financial statements, ensuring compliances with applicable laws and Regulations, and safeguarding of assets from unauthorized use.

Based on the framework of internal financial controls and compliance systems established and maintained by the Company, work performed by the Internal, Statutory, and Secretarial Auditors, including audit of the internal financial controls over financial reporting by the Statutory Auditors, and the reviews performed by the Management and the relevant Board and Committees, including the Audit Committee, the Board is of the opinion that the Companys internal financial controlswere adequate and effective duringthe year 2024-25

38. SHARE REGISTRAR& TRANSFER AGENT:

MCS Share Transfer Agent Limited ("MCS"), a SEBI registered Registrar & Transfer Agent ("RTA") has been appointed as the Companys RTA. The contact detail of MCS is mentioned in the Notice of AGM.

39. CERTIFICATE BY CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER:

A compliance certificate by Chief Executive Officer and Chief Financial Officer as required by Regulation 17(8) and Regulation 33 read with part B of schedule

11 of SEBI (Listing Obligations and Discloser Requirements) Regulations, 2015 has been provided in "Annexure 5".

40. DEPOSIT:

Your Company has not accepted any deposits within the meaning of Section 73 ofthe Companies Act, 2013 and the Companies(Acceptance of Deposits) Rules, 2014 and no deposits are subsisting as on date.

41. REPORTING OF FRAUD BY THE AUDITOR:

In terms of Section 134 (3) (ca) report by the Board of Directors is required to include the detailsin respect of frauds reportedby auditors under sub-section 12 of section 143 other than those which are reportable to the Central Government. No such fraud was reported by the auditor during the period under review.

42. SECRETARIAL STANDARDS:

During the year under review, Company has complied with all the applicable provisions of secretarial standards issued by the Institute of Company Secretaries of India on Board Meetings, General Meetings and Report of the Board of Directors.

43. CREDIT RATINGS:

Requirement to take Credit ratings is not applicable to the Company during the year under review.

44. BUSINESS RESPONSIBILITY REPORT:

As per regulation 34(2) of SEBI Listing Regulations, 2015, inter alia, provides that the annual report of the top 1000 listed entities based on market capitalization (calculated as on 31st March of every financial year) shall includea Business Responsibility Report (BRR).

Since your company does not fall under the ambit of the said provision therefore the requirement of the said reporting does not arise for the year under review.

45. INDIAN ACCOUNTING STANDARDS:

The standalone financial statements of the Company have been prepared in accordance with the Indian Accounting Standards (the Ind AS) prescribed under section 133 of the Companies Act, 2013 (the Act).

46. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:

The Company has neither given any loans or guarantee, nor provided any security in connection with any loan to any Body Corporate or person, nor has it acquired by subscription, purchase or otherwise, the securities of any Body Corporate as provided under Section 186 of the Act.

47. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

During the year under review, the Company did not enter into any contracts, arrangements, or transactions with related parties requiring disclosure. Accordingly, the disclosure of particulars in Form AOC-2 is not applicable.

48. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO CONSERVATION OF ENERGY:

The Company is in the field of buying and selling of rare stamps, coins, paper money, medals, postcards, original photos, autographs, newspapers and more of philately & numismatics collection. As per the objectof the Company the above- mentioned clause is not applicable.

Hence, the disclosure required in Section134(3) (m) of the CompaniesAct, 2013 are not applicable to the Company.

49. CORPORATE SOCIAL RESPONSIBILITY:

The provisions of corporate social responsibility are not applicable to your Company during the year under review.

50. ACKNOWLEDGEMENT:

Your directors would like to express their sincere appreciation for the assistance and co-operation received from the Banks, Government Authorities, Customers, and Shareholders during the year.

Your directors also wish to take on record their deep sense of appreciation for the committed services of the employees at all levels. We place on record our appreciation for the contribution made by our employees at all levels.

The Directors place on record their sincere appreciation to all the employees of the Company for their unstinted commitment and continued contribution to the Company.

Registered Office	By Order of the Board
SF-7, Silver Rock Complex,	For Alexander Stamps & Coin Limited
Near Dairy Teen Rasta,
Makarpura, Vadodara-390014.	Sd/-
	Anirudh Sethi
	Chairman
	DIN: 06864789
	Date: 22/07/2025
	Place: Vadodara