Alpine Texworld Ltd Directors Report

To

The Members

Alpine Texworld Limited

(Formerly known as Alpine Spinweave Limited)

The Board of directors take pleasure in presenting the 10 th (Tenth) Annual Report on the business and operations of the Company, together with Audited Financial Statements of your Company for the year ended March 31, 2026.

Financial Results

The summarized standalone and consolidated statements of your Company are given in the table below-

(All Amounts are in Millions unless otherwise stated)

Particulars	Standalone		Consolidated
	2025-26	2024-25	2025-26	2024-25
Revenue from Operations	2404.03	1765.84	3427.13	2373.24
Add: Other Income	18.96	3.27	74.65	3.36
Total Income	2422.99	1769.10	3501.79	2376.61
Profit/Loss before Interest, Depreciation and Tax	474.18	237.80	549.13	273.36
Less: Interest	117.15	66.12	153.25	90.78
Less: Depreciation	103.24	53.76	126.93	64.22
Profit/Loss before Tax	253.79	117.92	268.95	118.36
Less: Current Tax	29.52	17.95	42.09	17.95
Less: Deferred Tax	9.70	14.15	9.70	14.15
Profit or Loss After Tax	214.57	85.82	217.16	86.26

Financial Performance and the State of the Companys Affairs

The Company is engaged in the business of spinning of Cotton yam, sizing and weaving of Cotton/blended Yam including trading of various textile products. There has been no change in the nature of business of the Company during the financial year ended March 31, 2026.

STANDALONE BASIS

During the year under review the total standalone revenue of the company is Rs. 2,422.99 million as compared to total standalone revenue of Rs. 1,769.10 million of previous year showing an increase of Rs. 653.89 million.

The Companys Profitbefore exceptional items and taxes are Rs. 474.18 million as compared to previous year of Rs. 237.80 million. The Companys profit after tax stood at Rs. 214.57 million vis-a-vis Rs. 85.82 million in the previous year, registering a growth of 150.02%.

CONSOLIDATED BASIS

During the year under review the total consolidated revenue of the company is Rs. 3501.79 million as compared to total consolidated revenue of Rs. 2376.61 million of previous year showing an increase of Rs. 1125.18 million.

The Companys consolidated Profit before exceptional items and taxes are Rs. 549.13 million as compared to previous year of Rs. 273.36 million. The Companys consolidated profit after tax stood at Rs. 217.16 million vis-a-vis Rs. 86.26 million in the previous year, registering a growth of 151.75%.

Capital Structure of the Company

(Amount in Rupees)

Particulars	Financial Year ended 31.03.2026		Financial Year ended 31.03.2025
	(C.	F-Y-)	fP.F.Y)
	Shares	Rs.	Shares	Rs.
Authorised Capital	4,25,00,000	42,50,00,000/-	2,70,00,000	27,00,00,000/-
Issued, Subscribed and Paid-up Capital	2,62,23,000	26,22,30,000/-	2,62,23,000	26,22,30,000/-

1. Authorised Share Capital

During the financial year under review, the company has increased its Authorised Share Capital of the Company from-

(i.) Rs. 27,00,00,000/- (Rupees Twenty-Seven Crores only) divided into 2,70,00,000 (Two Crores Seventy Lakhs only) Equity Shares of 10/- (Rupees Ten only) each to Rs. 40,00,00,000/- (Rupees Forty Crores only) divided into 4,00,00,000 (Four crore) Equity Shares of 10/- (Rupees Ten only) each vide Ordinary Resolution at the Extra-Ordinary General Meeting of the company held on 22nd Day of May, 2025: and,

(ii.) Rs. 40,00,00,000/- (Rupees Forty Crores only) divided into 4,00,00,000 (Four Crore only) Equity Shares of Rs. 10/- (Rupees Ten only) each to Rs. 42,50,00,000/- (Rupees Forty-Two Crores Fifty Lakhs only) divided into 4,25,00,000 (Four crore Twenty-Five Lakhs) Equity Shares of 10/- (Rupees Ten only) each vide Ordinary Resolution at the Extra-Ordinary General Meeting of the company held on 12th Day of July, 2025.

2. Issued, Subscribed and Paid-up Share Capital

During the financial year under review, there was no change in the Issued, Subscribed and Paid-up Share Capital of the Company.

The paid-up share capital of the company is Rs. 26,22,30,000 divided into 2,62,23,000 Ordinary Equity shares of Rs. 10/- each.

Dividend

With a view to conserve resources for future business operations of the Company, your directors do not recommend any dividend for the financial year 2025-26.

Transfer to Reserves

During the financial year under review, no amount has been transferred to any reserves of the Company. Change in nature of companys business

The Company did not change its nature of business during the financial year 2025-26.

Subsidiaries / loint Ventures/ Associates

• Holding Company

The company does not have any holding company.

• Subsidiaries / loint Ventures/ Associates

The Company has one subsidiary, Alpine Cottweave LLP pursuant the requirement under the Ind AS and is not classified as a subsidiary under section 2(87] of the Companies Act

Internal Financial Controls

The Companys Internal Financial controls with reference to Financial Statements designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of Financial Statements for external purposes in accordance with applicable accounting principles. The companys Internal Financial controls with reference to Financial Statements include those policies and procedures that:

1. pertains to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company.

2. provide reasonable assurance that, transactions are recorded as necessary to permit preparation of Financial Statements in accordance with generally accepted accounting principles and that receipts and expenditures of the Company are being made in accordance with authorisations of management and Directors of the Company; and

3. Provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use or disposition of the Companys assets that could have a material effect on the Financial Statements.

Board of Directors periodically reviews the adequacy of Internal Financial controls. During the year, such controls were tested and no reportable material weaknesses were observed.

Auditors and Auditors Report

Statutory Auditors

The Board of Directors of the Company appointed M/s. Suresh Chandra & Associates (Firm Registration No. 001359N], Chartered Accountants as the Statutory Auditors of the Company, at the Annual General Meeting of the company dated September 24, 2025 for a term of 5 (five] consecutive years commencing from 01st April, 2025 till 31st March, 2030 at a remuneration to be fixed by the Board of Directors of the Company in the consultation with Auditor.

M/s. Suresh Chandra & Associates (Firm Registration No. 001359N), Chartered Accountants, hold a valid Peer Review certificate issued by Board of The Institute of Chartered Accountants of India, as per the requirement of Regulation 33 of the Listing Regulations.

Auditors Report

The Auditors Report for financial year 2025-26 on the financial statements forms part of this Annual Report.

The observations made by the Statutory Auditors on the Financial Statements of the company, in their Report for the financial year ended March 31, 2026, read with the explanatory notes therein, are self- explanatory and, therefore, do not call for any further explanation or comments from the Board under Section 134(3)(f) of the Act. The Auditors Report does not contain any qualification, reservation or adverse remark or disclaimer.

Cost Auditor

M/s Anuj Aggarwal & Co, Cost Accountants (Registration No.102409), Ahmedabad were appointed as the Cost Auditor of your Company for Financial year 2025-26 in accordance with the requirement of Central Government and provisions of Section 148 of the Companies Act, 2013.

The Company has duly maintained Cost Records required under Section 148 (1) of the Act, in compliance with the cost auditing standards in accordance with the Companies (Cost Records and Audit) Rules, 2014.

An audit of Cost Records and Statements maintained by the Company will be conducted by M/s Anuj Aggarwal & Co, Cost Accountants (Registration No.102409), Ahmedabad. The Cost Auditors report on Cost Records and Statements will be submitted to the statutory authorities in the prescribed form on or before the due date.

Board has re-appointed M/s Anuj Aggarwal & Co, Cost Accountants (Registration No.102409), Ahmedabad, as Cost Auditors of the Company for the Financial year 2026-27 on such remuneration mutually agreed between auditor and Board.

Secretarial Auditor

As per provision of section 204(1) of Companies Act, 2013 read with rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company is not required to appoint any Secretarial Auditor for financial year 2025-26.

Reporting of Frauds by the Auditors

During the year under review, the Statutory Auditors have not reported any instances of frauds committed in the Company by its Officers or Employees or otherwise under Section 143(12) of the Companies Act, 2013.

Board of Directors and Kev Management Personnel

During the financial year under review, there were changes in the constitution of Board of Directors and Key Managerial Company (KMP) of the Company and the following were on the Board jDfJb^Company at the end of the Financial Year 2025-26:

Name of Director/KMP	DIN/PAN	Designation
Mr. Sumit Champalal Agarwal	00356863	Director
Mr. Sandeep Santkumar Agrawal	01078044	Chairman and Managing Director
Mr. Ratansingh Jethusingh Rajpurohit	10920138	Whole-time director
Mr. Piyush Ravishanker Bhatt	10143807	Independent Director
Mr. Deepak Kumar Kewliya	10411621	Independent Director
Mrs. Jayshree Vikram Patel	10940066	Independent Director
Mr. Hardik Chandrakantbhai Soni	DUDPS0100R	CFO
Ms. Pooja Jogani	BZNPJ5286N	Company Secretary

Changes in the constitution of Board of Directors and KMP of the Company

During the Financial Year under review, the following was the changes made in the Board of Directors and Key Managerial Personnel (KMP) of the company:

S. No.	Name of Director/KMP	Designation	Appointment/Change in designation /Cessation	Date on which change occurred
1.	Mr. Hardik Chandrakantbhai Soni	CFO	Appointment	12-04-2025
2.	Ms. Anita Barwal	Company Secretary	Cessation	05-07-2025
3.	Ms. Pooja Jogani	Company Secretary	Appointment	07-07-2025

Retirement by Rotation

In purview of compliance and pursuant to the provisions of Section 152(6) of the Companies Act, 2013, it is required to retire a director liable to retire by rotation, who have been longest in office since their last appointment. During the financial year under review, Mr. Ratansingh Jethusingh Rajpurohit (DIN: 10920138), being liable, shall retire by rotation at the ensuing Annual General Meeting and may on being eligible, offer himself for re-appointment. Your directors recommend members for his re-appointment.

Independent Directors

All Independent Directors of the Company have given declaration under Section 149 (7) of the Act, that they meet the criteria laid down in Section 149 (6) of the Act. Further in the opinion of the Board, the independent directors possess requisite expertise, experience and integrity. All the independent directors on the Board of the Company are registered with the Indian Institute of Corporate Affairs, Manesar, Gurgaon as notified by the Central Government under Section 150(1) of the Companies Act, 2013 and as applicable shall undergo online proficiency self-assessment test within the time prescribed by the IICA.

Policy on Directors Appointment and Remuneration

The Companys remuneration policy is directed towards rewarding performance based on review of achievements periodically. The remuneration policy is in consonance practice.

Directors Responsibility Statement

Pursuant to Section 134(5] of the Companies Act, 2013 and to the best of their knowledge and information provided, your Directors confirm that:

a] In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation to material departures;

b] The Directors had 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 /loss of the Company for that period.

c] The Directors had taken proper and sufficient care 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 had prepared the annual accounts on a going concern basis;

e] The Company being unlisted, sub clause (e] of section 134(3] of the Companies Act, 2013 pertaining to laying down internal financial controls is not applicable to the Company; and

f] The Directors had devised proper systems to ensure compliance with the provision of all applicable laws and that such systems were adequate and operating effectively.

Disclosures under the Companies Act. 2013

Extract of the Annual Return

Pursuant to section 92(3] of the Companies Act, 2013 (the Act] and rule 12 of the Companies (Management and Administration] Rules, 2014, extract of annual return is placed on the website of the company vvww.alpiiie l cxworld.com .

Contracts or Arrangements with Related Parties

All the related party transactions entered into by the Company during the financial year were on an arms length basis and in the ordinary course of business. There were no materially significant related party transactions made by the Company with Promoters, Directors, Key Managerial Personnel or others, which may have a potential conflict with the interest of the Company at large or which warrants the approval of the shareholders. No material contracts or arrangements with related parties were entered during the year.

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 is appended in Form AOC-2 as Annexure II to this Report.

Particulars of Loans, Guarantees, Investments and Securities

The Company during the year has complied with provisions of section 186 of the relating to Loans, Investments or Guarantees /Security given. /<

Public Deposits

During the year, the Company has not accepted any deposits from the public as defined under the Companies Act, 2013 read with the Companies (Acceptance of Deposit Rules], 2014.

Board and its Committees

Board Meetings

The Board of Directors of the Company met 12 [Twelve] times during the year under review. The intervening gap between the meetings was within the period as prescribed under the provisions of the Companies Act 2013.

The particulars of the meetings held and attended by each Director during the financial year 2025-26 are given as under:

S. No.	Date of Meeting	Directors Present
1.	12-04-2025	6
2.	08-05-2025	6
3.	19-05-2025	6
4.	07-07-2025	6
5.	09-07-2025	6
6.	29-08-2025	6
7.	15-09-2025	6
8.	26-09-2025	6
9.	04-10-2025	6
10.	24-11-2025	6
11.	07-02-2026	6
12.	07-03-2026	6

The attendance of Directors at the Meeting of the Board of Directors for Financial Year 2025-26 is as under:

S. No.	Name of Directors	Designation	No. of Board meeting held/entitled to attend	No. of Board meeting attended
1.	Mr. Sumit Champalal Agarwal	Non-Executive Director	12	12
2.	Mr. Sandeep Santkumar Agrawal	Chairman and Managing Director	12	12
3.	Mr. Ratansingh jethusingh Rajpurohit	Whole-time Director	12	12
4.	Mr. Piyush Ravishanker Bhatt	Independent Director	12	12
5.	Mr. Deepak Kumar Kewliya	Independent Director	12	12
6.	Mrs. jayshree Vikram Patel	Independent Director	12	12

Committees and their Meetings 1. Audit Committee

The Audit Committee has been constituted in line with the provisions of the section 177 of Companies Act, 2013. The Audit Committee comprised the following members as on 31.03.2026:

Name of Committee members	Designation	Member/Chairman	Date of appointment
Mr. Piyush Ravishanker Bhatt	Independent Non- Executive Director	Chairman	12/04/2025
Mr. Deepa Kumar Kewliya	Independent Non- Executive Director	Member	12/04/2025
Mr. Sandeep Santkumar Agrawal	Managing Director	Member	12/04/2025

The Audit Committee met 06 [Six] times during the year under review. The intervening gap between the meetings was within the period as prescribed under the provisions of the Companies Act 2013.

The particulars of the meetings held and attended by each committee member during the financial year 2025-26 are given as under:

S. No.	Date of Meeting	Directors Present
1.	19/05/2025	3
2.	07/07/2025	3
3.	29/08/2025	3
4.	15/09/2025	3
5.	26/09/2025	3
6.	22/01/2026	3

2. Nomination & Remuneration Committee

The Nomination & Remuneration Committee has been constituted in line with the provisions of the section 178 of Companies Act, 2013. The Nomination & Remuneration Committee comprised the following members as on 31.03.2026:

Name of Committee members	Designation	Member/Chairman	Date of appointment
Mr. Deepak Kumar Kewliya	Independent Non- Executive Director	Chairman	12/04/2025
Mr. Piyush Ravishanker Bhatt	Independent Non- Executive Director	Member	12/04/2025
Mrs. Jayshree Vikram Patel	Independent Non- Executive Director	Member	12/04/2025
Mr. Sumit Champalal Agarwal	Non-Independent Non-Executive Director	Member	12/04/2025

The Nomination & Remuneration Committee met 03 [Three] times during the year under review. The particulars of the meetings held and attended by each committee member duringjiigjinancial year 2025-26 are given as under:

S. No.	Date of Meeting	Directors Present
1.	19/05/2025	4
2.	07/07/2025	4
3.	29/08/2025	4

3. Stakeholders Relationship Committee

The Stakeholders Relationship Committee has been constituted in line with the provisions of the section 178 of Companies Act, 2013. The Stakeholders Relationship Committee comprised the following members as on 31.03.2026:

Name of Committee members	Designation	Member/Chairman	Date of appointment
Mr. Sumit Champalal Agarwal	Non-Independent Non-Executive Director	Chairman	12/04/2025
Mr. Piyush Ravishanker Bhatt	Independent Non- Executive Director	Member	12/04/2025
Mrs. Jayshree Vikram Patel	Independent Non- Executive Director	Member	12/04/2025
Mr. Ratansingh Jethusingh Rajpurohit	Whole-time Director	Member	12/04/2025

The Stakeholders Relationship Committee met 01 [One] time during the year under review. The particulars of the meetings held and attended by each committee member during the financial year 2025-26 are given as under:

S. No.	Date of Meeting	Directors Present
1.	07/03/2026	4

Annual Evaluation of Board Performance and performance of its committees and individual directors

The Company has a policy for performance evaluation of the Board and other individual Directors which includes criteria for performance evaluation of Non-Executive Directors and Executive Directors.

In accordance with the manner of evaluation specified by the policy, the Board carried out annual performance evaluation of the Board and Individual Directors. The Directors carried out annual performance evaluation of the Chairman, the directors and the Board as a whole. The Chairman of the of the board shared the report on evaluation with the respective members. The performance of each director was evaluated by the Board based on the report of evaluation received.

Secretarial Standards (SSI

During the financial year, the Company has complied with the applicable Secretarial Standards i.e. SS-1 and SS-2 relating to Meetings of the Board of Directors and General Meetings respectively.

Safety. Occupational Health and Environment

At your Company the Health, Safety & Well-being of our employees, subcontractors and all related personnel is paramount. We have made Health, Safety & Environment as core values of our Company. We have implemented high standards of safety measures to ensure healthy for all the employees, contractors, visitors, and customers at our plant.

ALPINE TEXWORLD LIMITED

ANNUAL REPORT 2025-26

ALPINE

Your Company believes that it is critical to protect the health and safety of everyone involved in its operations and to carry out operations in environmentally sustainable manner. To strengthen our safety culture, we ensure that all hazards and risks are identified, and control measures implemented to reduce risks to as low as reasonably practicable, investigate all near misses & first aid learning events and implement corrective & preventive actions.

We sincerely endeavour to continually improve our work practices. We are focused to keep our employees and associates safe through our proactive HSE initiatives and interventions.

Governance

Corporate Governance Report

Being Unlisted Company, the requirement of Corporate Governance is not applicable to the Company. Hence, further details are not given.

Whistle-Blower Policy/Vigil Mechanism

The Company has adopted a whistle blower policy and has established necessary vigil mechanism as defined under section 177 of the Companies Act, 2013 for stakeholders including directors and employees to report their concerns about unethical behaviour, actual or suspected fraud or violation of the Companys code of conduct or ethical policy. The policy provides for adequate safeguards against victimization of employees who avail of the mechanism.

Prevention of sexual harassment of women at the workplace

The Company has adopted a policy for prevention of sexual harassment at the workplace, in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH Act). An Internal Complaints Committee (ICC) has been duly constituted as per the provisions of the POSH Act to redress complaints regarding sexual harassment at the workplace.

During the financial year under review, the Company has complied with all the provisions of the POSH Act and the rules framed thereunder. Further details are as follow:

1.	Number of complaints of Sexual Harassment received in the Year	Nil
2.	Number of Complaints disposed off during the year	Nil
3.	Number of cases pending for more than ninety days	Nil

Risk Management

Managing Risk is an integral part of our business activity. The Companys board and management are fully committed to maintaining sound risk management systems to safeguard Company and shareholders interests. The board and senior management of the Company set the tone at the top for proactive and transparent identification and management of risks. They encourage both business managers and risk managers to bring out risks inherent to any business activity. The risk management philosophy of the Company is that, risk or the possibility of realising outcomes worse than desired, is inherent in our business and that taking risk that is well balanced with opportunity is something to be encouraged, but there are limits to the risk that we are willing to take for sustainable results.

Maternity Benefit

The Company affirms that it has duly complied with all provisions of the Maternity Benefit Act, 1961, and has extended all statutory benefits to eligible women employees during the year.

Corporate Social Responsibility

The Company in compliance with the provisions of Section 135 of the Companies Act, 2013, and rules made thereunder has framed a CSR Policy. A brief outline of the CSR Policy and the CSR initiatives undertaken by the Company during the year is given in Annual Report on Corporate Social Responsibility (CSR) activities in the Annexure III, which forms part of this report.

Conservation of Energy. Technology Absorption. Foreign Exchange Earnings and Outgo

(A) Conservation of energy
(i) the steps taken or impact on conservation of energy	The activities carried out by the Company are not power intensive.
(ii) the steps taken by the company for utilizing alternate sources of energy	The Company is not utilizing alternate sources of energy.
(iii) the capital investment on energy conservation equipment\u2019s	NIL
(B) Technology absorption
(i) the efforts made towards technology absorption	NIL
(ii) the benefits derived like product improvement, cost reduction, product development or import substitution	NIL
(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 year. Hence, there are no details to be furnished under this clause.
(a) the details of technology imported;
(b) the year of import;
(c) whether the technology been fully absorbed;
(d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof; and
(iv) the expenditure incurred on Research and Development	There is no expenditure incurred on Research and Development by the Company.
(C) Foreign exchange earnings and Outgo
The Foreign Exchange earned in terms of actual inflows during the year and The Foreign Exchange outgo during the year in terms of actual	NIL
outflows	NIL

Other Disclosures

Transfer of unclaimed dividend to Investor Education and Protection Fund

The Company has not declared dividend in any previous financial years, accordingly there is no unclaimed/ unpaid dividend. So, there are no amounts transferred to 1EPF during the year.

Regulatory and Legal Matters

The Company has not received any regulatory orders during the reporting period which has an impact the Going Concern status of your Company and operations in the future.

Material Changes and Commitment, if any after balance sheet date

There were no material changes or commitments to report that affected the Companys Financial position that occurred between the end of the Financial Year and the date of this report.

Proceedings under Insolvency and Bankruptcy Code 2016

No application was made nor is any proceeding pending under the Insolvency and Bankruptcy Code, 2016 during the year.

Details of one-time settlement with the Banks

The Company has not made any one-time settlement with any Banks or Financial Institutions.

Acknowledgement

Your directors place on record their deep sense of appreciation for continuous support from Companys employees, customers, vendors, investors, lenders and professional. Your directors also wish to place on record their deep sense of appreciation to the government of various countries, government of India, the governments of various states in India and concerned government departments / agencies for their co-operation.

FOR AND BEHALF OF ALPINE TEXWORLD LIMITED

Date: 02/06/2026 Place: Ahmedabad

SANDEEP SANTKUMAtf/	RATANSINGH JETHUSINGH RA)PUROHIT
MANAGING DIRECTOR	WHOLE-TIME DIRECTOR
(DIN: 01078044)	(DIN:10920138)

Suresh Chandra & Associates

Chartered Accountants

Branch : 303, Investment House, 3rd Floor, Opp. Gandhigram Railway Station, Ellisbridge, Ahmedabad-380 006.

Contact No.: 9974534855 Email: cassnanwal@gmail.com