Anlon Healthcare Ltd Directors Report

Boards Report

Dear Members,

The Board of Directors ("Board") of ANLON HEALTHCARE LIMITED ("Company") with immense pleasure to present their Thirteenth Annual Report on the business and operations of your Company for the financial year 2025-2026. This Report is being presented along with the audited financial statements for the year.

Financial Performance:

			(Amt in Lakh)
Financial Particulars	For the year ended March 31
	Standalone		Consolidated*
	2026	2025	2026
Revenue from operations	17,649.87	12,028.66	17,196.56
Other Income	25.39	16.85	25.24
Total revenues	17,675.26	12,045.51	17,222.10
Cost of Material Consumed	12,976.38	7,128.82	14,930.95
Change in Inventories	(1691.69)	329.89	(4,420.85)
Employee Benefit expense	525.12	488.19	554.04
Finance Costs	435.29	371.52	374.07
Depreciation and amortization expense	136.31	177.39	152.41
Other expenses	1,226.28	860.88	1,380.76
Total Expenses	13,607.69	9,356.69	12,971.38
Profit before tax	4,067.57	2,688.82	4,250.72
Current Tax	1,140.03	757.20	1,180.27
Deferred tax	146.72	(17.47)	161.64
MAT Credit Entitlement	00.00	(102.71)	00.00
Profit/Loss for the year	2,780.82	2,051.79	2,908.81

* Apiqo Organics Private Limited and Bizotic Lifescience Private Limited are subsidiary of the company w.e.f. January 09, 2026 and March 20, 2026 respectively and therefore comparative figure of Financial Year 2024-25 is not applicable.

Sales & Profitability Review

Standalone: During the year, your company has achieved revenue from operation of Rs.17,649.87 Lakhs as compared to previous year revenue from operation of Rs.12,028.66 Lakhs. Profit after tax was Rs.2,780.82 Lakhs during the year under review as compared to profit after tax of Rs.2,051.79 Lakhs of previous year.

Consolidated: During the year, your company has achieved revenue from operation of Rs.17,196.56 Lakhs. Profit after tax was Rs.2,908.81 Lakhs during the year.

Initial Public Offering

During the year under review, the Company has successfully completed its Initial Public Offer (IPO) through an fresh issue of 1,33,00,000 Equity Shares of face value of 10/- each at a price of 91/- per Equity Share including a premium of 81/- per Equity Share, aggregating total offer to 121.03 Crore.

Basic details of the IPO are as follows:

1) Issue Period: Open on August 26, 2025 and closed on August 29, 2025

2) Price Band: 86/- to 91/- per equity share

3) Issue size: 1,33,00,000 fresh equity shares aggregating to 121. 03 Crore at the upper price band

4) Listing Date: September 03, 2025

5) Stock Exchange: Listed on NSE and BSE

Your Directors would like to express their sincere appreciation to the Merchant Bankers, legal counsels, and all other stakeholders for their invaluable guidance, support, and contributions in successfully completing the Initial Public Offering (IPO) and the subsequent listing of the Companys Equity Shares.

Your Directors also extend their heartfelt gratitude to all the members and investors for subscribing to the Equity Shares offered through the IPO and for reposing their continued trust and confidence in the Company and its management. The Board remains committed to creating long-term value for all stakeholders and upholding the highest standards of corporate governance.

Acquisition

1) The company acquired 67.48% equity shareholding in Apiqo Organics Private Limited and become subsidiary of the company w.e.f. January 09, 2026.

2) The company acquired 56.67% equity shareholding in Bizotic Life Science Private Limited and become subsidiary of the company w.e.f. March 20, 2026.

Dividend

In order to conserve resources, the Board of Directors has not recommended any dividend on the Equity Shares for the financial year.

Dividend Distribution Policy

In line with the requirements of the Listing Regulations, the Company has formulated a Dividend Distribution Policy, which is available on its official website at

https://www.anlon.in/uploads/catalogues/1727265811.dividend%20distribution%20policy.pdf. Transfer to Reserve

Pursuant to provisions of Section 134 of the Companies Act, 2013, the Company has not proposed to transfer any amount to the general reserves account of the Company during the year under review.

Change in Nature of Business

During the under review, there is no change in the nature of the business of the Company.

Change in Registered Office

During the year under review, there is no change in the registered office of the Company.

Share Capital

Authorized Share Capital

The authorized share capital of the company is Rs.550,000,000 (Rupees Fifty-Five Crore Only) divided into 5,50,00,000 (Five Crore Fifty Lakh) Equity Shares of Rs.10/- each.

Change in Authorized Share Capital

During the year there is no change in Authorized Share Capital of the Company.

Issued, Subscribed and Paid-Up Share Capital

The issued, subscribed and paid-up share capital of the company is Rs. 531,515,000 (Rupees Fifty-Three Crore Fifteen Lakhs Fifteen Thousand Only) divided into 5,31,51,500 (Five Crore Thirty-One Lakh Fifty-One Thousand Five Hundred) Equity Shares of Rs.10/- each.

Change in issued, subscribed and paid-up share capital

Pursuant to the Initial Public Offer of Equity Shares of the company, the company has allotted total 1,33,00,000 (One Crore Thirty-Three Lakhs) Equity Shares of Rs.10/- each at price of Rs.91/- per Equity Share to the successful allottees.

Significant and Material Orders

There are no significant and material orders passed by the regulators or courts or tribunals.

Material Changes and Commitment

Variation in Objects of the Initial Public Offering (IPO)

The Company has approved a variation in one of the objects of the Initial Public Offering (IPO) for the proposed expansion through inorganic growth and further upgradation. The variation was approved by the members of Anlon Healthcare Limited through a resolution passed by way of postal ballot (remote e-voting process) on January 7, 2025.

Sub-Division

The Company has approved the Sub-division of its equity shares, such that 1 (One) equity share having face value of Rs.10/- (Rupees Ten Only) each, fully paid-up, be sub-divided into 5 (Five) equity shares having face value of Rs.02/- (Rupee Two Only) each fully paid-up vide special resolution passed by way of postal ballot (remote e-voting process) by members of the company on April 08, 2026.

Issue of Bonus Shares

The Members of the Company passed a Special Resolution by way of Postal Ballot (Remote E-voting) on April 8, 2026, approved the issue of Bonus Shares in the ratio of 1:1, i.e., one (1) fully paid-up equity share of Rs.2/- each for every one (1) existing fully paid-up equity share held by the Members of the Company. Pursuant to the aforesaid approval, the company has allotted 26,57,57,500 (Twenty-Six Crore Fifty-Seven Lakh Fifty-Seven Thousand Five Hundred) Bonus Equity Shares of Rs.2/- each, fully paid-up, to the eligible shareholders of the Company.

Acquisition

The company acquired of 67.48% shareholding in Remember India Health Links Private Limited and become subsidiary on May 08, 2026.

Further, company incorporated two subsidiary companies namely:

1) ANLON MEDICARE PRIVATE LIMITED - Incorporated on July 9, 2026.

2) ANLON BIOLOGICS PRIVATE LIMITED - Incorporated on July 10, 2026.

Except above, there are no material changes and commitments affecting the financial position of the Company.

Disclosure by Directors:

The Directors on the Board have submitted notice of interest under Section 184(1) i.e. in Form MBP-1, intimation under Section 164(2) i.e. in Form DIR-8 and declaration as to compliance with the Code of Conduct of the Company.

None of the Director of the Company is serving as a Whole-Time Director in any other Listed Company and the number of their directorship is within the limits laid down under section 165 of the Companies Act, 2013.

Retirement by Rotation and Subsequent Re-Appointment:

Mr. Punitkumar Rameshbhai Rasadia (DIN: 06696258), Chairman & Managing Director of the company, is liable to retire by rotation at the ensuing Annual General Meeting, pursuant to Section 152 and other applicable provisions, if any, of the Companies Act, 2013, read with the Companies (Appointment and Qualification of Directors) Rules, 2014 (including any statutory modification(s) or re- enactment(s) thereof for the time being in force), and being eligible have offered himself for re-appointment.

Appropriate business for his re-appointment is being placed for the approval of the shareholders of the Company at the ensuing AGM. The relevant details, as required under Secretarial Standard, of the person seeking re-appointment as Director are also provided in Notes to the Notice convening the 13th Annual General meeting.

Directors Responsibility Statement

Pursuant to section 134(5) of the Companies Act, 2013, the board of directors, to the best of their knowledge and ability, confirm that:

a) In preparation of annual accounts for the year ended March 31, 2026, the applicable accounting standards have been followed and that no material departures have been made from the same;

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 or loss of the Company for that year;

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 for the year ended March 31, 2026 on going concern basis.

e) The Directors had laid down the internal financial controls to be followed by the Company and that such Internal Financial Controls are adequate and were operating effectively; and

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

Corporate Governance

A Corporate Governance Report covering compliances with stipulations and requirements of Regulation 34(3) read with Schedule V of the Listing Regulations forms a part of this Annual Report.

The Corporate Governance Report for the year forms an integral part of this Report as Annexure - A.

Management Discussion and Analysis

In compliance with Regulation 34(2), read with Part B of Schedule V of the Listing Regulations, the Managements Discussion and Analysis ("MDA") Report giving the details on review of operations, performance, opportunities, and outlook of the Company forms an integral part of this Report and is annexed herewith as Annexure - B.

Policy on Directors Appointment And Remuneration

The Company has a policy for the appointment and remuneration of Directors and matters under Section 178(3) of the Act. This policy is uploaded on the Companys website, and its salient features have been disclosed in the Corporate Governance which forms a part of this Annual Report as "Annexure - A".

Number of Board Meetings

Twenty (20) Board meetings were held in the year, the details thereof are given in the Corporate Governance Report which forms a part of this Annual Report as "Annexure - A"

General Meetings

The details thereof are given in the Corporate Governance Report which forms a part of this Annual Report as "Annexure - A".

Committees of Board

The Board of Director has constituted following Committees during the year as under:

a) Audit Committee

b) Nomination And Remuneration Committee

c) Stakeholders Relationship Committee

d) Risk Management Committee

e) Internal Complaints Committee

f) Corporate Social Responsibility Committee

Details of composition, terms of reference and number of meetings held for respective committees are given in the Report on Corporate Governance, which forms a part of this Annual Report as "Annexure - A". During the year under review, the Board has accepted all recommendations made by the various committees.

Public Deposits

The Company has not accepted any Fixed Deposits from the public and it is therefore not required to comply with the requirement under Non-Banking Non-Financial Companies (Reserve Bank) Directions, 1996 and Companies (Acceptance of Deposits) Rules, 1975.

Particulars of Loans, Guarantees or Investments

The particulars of loans, guarantees and investments have been disclosed in the financial statements.

Finance

During the period up to this report, company has been utilizing cash credit/term loan facilities from the Bank and the Company has been regular in payment of interest as well as instalments as per schedule to Banks.

Annual Return

A copy of the annual return as provided under Section 92(3) of the Act, in the prescribed form, which will be filed with the Registrar of Companies/MCA, is hosted on the Companys website and can be accessed at

https://www.anlon.in/reports.phpRs.subid=11&name=Annual-Return

Subsidiaries, Associates and Joint Venture Company

As of March 31, 2026, the Company has 02 (Two) subsidiary companies. In accordance with the applicable regulatory requirements, the financial information of these entities has been presented in Form AOC-1, which forms part of the consolidated financial statements. The annexure is attached herewith as Annexure - I.

Contract of Arrangement with Related Party Transactions

All the Related Party Transactions entered into during the financial year were on an Arms Length basis and in the Ordinary Course of Business. The disclosure of Related Party Transactions as required under Section 134(3)(h) of the Companies Act, 2013, in Form AOC-2 is attached as Annexure- II forms part of this Report.

The details of the related party transactions for the financial year 2025-2026 is given in notes of the financial statements which is part of Annual Report.

The Policy on Related Party Transactions as approved by the Board of Directors is available on the website of the Company at

https://www.anlon.in/uploads/catalogues/1727266302.policy%20on%20related%20party%20tran

sactions.pdf

Conservation of Energy and Technology Absorption and Foreign Exchange Earnings & Expenditure

The Company has complied with the applicable provisions regarding Conversion of energy, technology absorption and foreign exchange earnings and outgoing as required pursuant to section 134(3) (m) of the Companies Act, 2013 read with Rule 8(3) of Companies (Accounts) Rules, 2014. The annexure is attached herewith as Annexure - III.

Particulars of Employee

None of the Employee has Received Remuneration Exceeding the Limit as Stated in Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. The prescribed details are mentioned in Annexure - IV. In line with Section 136 of the Act, this Annual Report is being sent to the members and others entitled thereto without information and details of employees. The particulars are available for inspection by members during business hours on working days at the registered office of the Company up to the date of the ensuing AGM.

Availability of Subsidiary Financial Statements

The audited financial statements of all subsidiary companies are available on the Companys website at www.anlon.in. These documents may also be inspected during business hours at the Companys Registered Office, in accordance with the provisions of Section 136 of the Act. Shareholders who wish to obtain a copy of the subsidiary accounts may email their request to cs@anloncro.com.

Sexual Harassment of Women at Workplace

In order to prevent sexual harassment of women at workplace, a legislation - The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 was notified on December 09, 2013. Under the said Act, every Company is required to set up an Internal Complaints Committee to look into complaints relating to sexual harassment at workplace of any woman employee.

The Company has a Policy for Prevention of Sexual Harassment at The Company has a Policy for Prevention of Sexual Harassment at

https://www.anlon.in/uploads/catalogues/1727266286.policy%20on%20prevention%20of%20sex ual%20harrasment%20at%20workplace.pdf meeting the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

During the financial year, the Company has not received a single complaint on sexual harassment. Secretarial Standards of ICSI

Pursuant to provisions of section 118 of the Companies Act, 2013, the Company has complied with the applicable provisions of the Secretarial Standards issued by The Institute of Company Secretaries of India and notified by Ministry of Corporate Affairs, wherever applicable.

Risk Management

A well-defined risk management mechanism covering the risk mapping and trend analysis, risk exposure, potential impact and risk mitigation process is in place. The objective of the mechanism is to minimize the impact of risks identified and taking advance actions to mitigate it. The mechanism works on the principles of probability of occurrence and impact, if triggered. A detailed exercise is being carried out to identify, evaluate, monitor and manage both business and non-business risks.

Internal Financial Control Systems and Their Adequacy

The Company has an effective internal control system, which ensures that all the assets of the Company are safeguarded and protected against any loss from unauthorized use or disposition.

The Company has put in place adequate internal financial controls with reference to the financial statements commensurate with the size and nature of operations of the Company. During the year, such controls were tested and no material discrepancy or weakness in the Companys internal controls over financial reporting was observed.

Business Responsibility and Sustainability Report

The Business Responsibility and Sustainability Report as stipulated in Section 34 of the Listing Regulations is not applicable to the Company.

Policies and Disclosure Requirements

The Company has adopted all the applicable policies in line with the provisions of the Act and the Listing Regulations. It is set of written guidelines that provide direction for an organizations operations, ensuring alignment with its values and goals. They outline the boards expectations, rules, and regulations, guiding decision-making and actions at all levels. These policies are crucial for effective governance, risk management, and achieving desired organizational outcomes. Followings are policies formed by the Board:

1) Code of Conduct for Directors and Senior Management

2) Code of Fair Disclosure

3) Dividend Distribution Policy

4) Familiarization Program for Independent Directors

5) Health Safety and Environment Policy

6) Internal Procedures and Conduct for Prevention of Insider Trading

7) Nomination and Remuneration Policy

8) Policy for Archival of Documents

9) Policy for Determination of Material Events and Disclosure

10) Policy for Determination of Material Subsidiaries

11) Policy on Diversity on Board

12) Policy on Evaluation of Board and Independent Directors

13) Policy on Identification of Material Creditors and Material Litigations

14) Policy on Prevention of Sexual Harassment at Workplace

15) Policy on Related Party Transactions

16) Policy on Succession Planning for Board and Senior Management

17) Policy on Terms of Appointment of Independent Directors

18) Vigil Mechanism Whistle Blower Policy for Directors and Employees

19) Corporate Social Responsibility Policy

20) Risk Management Policy

Statutory Auditor and their Report

Your company appointed M/s RVD & Co. as a Statutory Auditor for the term of 5 years and to hold office till the conclusion of Fifteenth Annual General Meeting which will be held in the year 2028. The Statutory Auditor has confirmed their eligibility and submitted the certificate that they are not disqualified to hold the office of the Statutory Auditor.

M/s RVD & Co., Chartered Accountants have given their consent to act as the Auditors of the Company and have confirmed that the said appointment, if made, will be in accordance with the conditions prescribed under Sections 139 and 141 of the Act.

M/s RVD & Co., Chartered Accountants, have confirmed that they have not been disqualified to act as Statutory Auditors of the Company and that their appointment is within the maximum ceiling limit as prescribed under Section 141 of Companies Act, 2013 / relevant statute.

The Statutory Auditors of the Company have not reported any fraud as specified under the second proviso of Section 143(12) of the Companies Act, 2013 (including any statutory modification(s) or re-enactment(s) for the time being in force). The Auditors Report for the Financial Year ended March 31, 2026, does not contain any qualification, reservation or adverse remark. Further the Auditors Report being self - explanatory does not call for any further comments from the Board of Directors.

Secretarial Auditor and Secretarial Audit Report

As pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 read with Regulation 24A of SEBI Listing Regulations, and under approval of the shareholders obtained at the 12th Annual General Meeting of the Company held on August 09, 2026, M/s K.P. Ghelani & Associates, Company Secretaries (Mem No. A33400) were appointed to undertake the Secretarial Audit of the Company for a period of five (5) years from Financial year 2025- 2026 to Financial Year 2029-2030.

Annexure - VI contains the Secretarial Audit Report in Form MR-3 for the Financial Year ended March 31, 2026. The Company has complied with the applicable Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI) during the year under review. There are no qualifications, reservations, adverse remarks or disclaimers given by the Secretarial Auditor. In terms of Section 118(10) of the Act, the Company is compliant to the Secretarial Standards issued by the ICSI. Board Meetings, General Meetings, and systems as such were adequate and operating effectively.

Cost Auditor and Maintenance of Cost Record

As per the provisions of section 148 of the Act read with the Companies (Cost Records and Audit) Rules, 2014, the Company is required to maintain cost records and accordingly, such accounts and records are maintained.

Pursuant to the provisions of section 148 of the Act, the Board of Directors on the recommendation of the Audit Committee has appointed M/s M. C. Bambhroliya & Associates, Cost Accountants (Mem. No. 33005) as the cost auditor of the Company for the financial year ending on March 31, 2026.

The company has appointed M/s M. C. Bambhroliya & Associates, Cost Accountants as a Cost Auditor of the Company for the year 2026-2027 and have recommended their remuneration to the members for ratification at the ensuing AGM. Accordingly, a resolution seeking members ratification for the remuneration payable to the cost auditor forms part of the Notice of the ensuing AGM.

The cost auditor has furnished the eligibility certificate along with his consent to such appointment in terms of the relevant provisions of the Act read with Rules framed thereunder. The Audit Committee has also received a certificate from the cost auditor certifying their independence and arms length relationship with the Company.

Internal Auditor

The Company has appointed, Mr. Parth Sanjaybhai Udani proprietor of M/s. P S Udani & Associates, Chartered Accountants, as the Internal Auditor of the Company for the financial year 2026-2027.

Human Resource Development and Industrial Relations

The Company believes that its human resources are one of the most crucial assets and critical enablers of the Companys growth. To that extent, the Company engages with its employees to hone their skill sets and equip them with knowledge and know-how. It is also deeply invested in establishing its brand name to attract and retain the best talent in the market.

During the period under review, employee relations continued to be healthy, cordial, and harmonious at all levels, and the Company aims to maintain such relations with the employees going forward as well.

Website

The Company has maintained a functional website https://www.anlon.in containing information about the Company.

The Details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 during the year along with their status as at the end of the financial year

During the Financial Year, there was no application made and proceeding initiated / pending under the Insolvency and Bankruptcy Code, 2016, by any Financial and/or Operational Creditors against the Company. As on the date of this report, there is no application or proceeding pending against the company under the Insolvency and Bankruptcy Code, 2016.

Acknowledgements

Your Directors place on record their appreciation for the continued co-operation and support extended by the bankers, associates and Central and State Governments and look forward to their sustained support and collaboration in the future. A profound thanks to our employees, suppliers and partners for your remarkable dedication and contributions throughout the year. We also deeply appreciate the trust and support of our valued customers and shareholders, who play an integral role in our continuing success.

By order of the Board of Directors
Sd/-	Sd/-
Punitkumar Rasadia	Meet Vachhani
Managing Director	Whole Time Director
DIN: 06696258	DIN: 06695053
Place: Rajkot
Date: August 13, 2026