Antariksh Industries Ltd Directors Report

To

The Members,

ANTARIKSH INDUSTRIES LIMITED Ahmedabad.

Dear Members,

Your directors are pleased to present the 51st Annual Report of the Company along with the Audited Financial Statements for the financial year ended on March 31, 2026.

1. FINANCIAL HIGHLIGHTS:

The summary of the financial results for the year and appropriation

(Rs. in Lakh except EPS)

PARTICULARS	F.Y. 2025-26	F.Y. 2024-25
Revenue form Operation 516.66 4379.16
Other Income	-	-
Total Income (Total Revenue)	516.66	4379.16
Total Expenditure (Excluding	507.87	4304.67
Profit before Financial costs, Depreciation expenses and Taxation	8.79	74.49
Less: Finance Costs	-	-
Operating profit before Depreciation and amortization expenses and Taxation	8.79	74.49
Less:	-	-
Profit before Tax	8.79	74.49
Less: (1) Current Tax	2.64	19.47
Less: (2) Deferred Tax	-	-
Profit after tax	6.15	55.03
EPS (Basic)	3	26.85
EPS (Diluted)	3	26.85

During the year under review, the total income of the Company was Rs. 516.66 Lakhs as against Rs. 4379.16 lakhs during FY 2024-25. The Company had generated profit after tax of Rs. 6.15 Lakhs during FY 2025-2026 as against profit of Rs. 55.03 Lakhs during FY 2024-2025.

2. MANAGEMENT DISCUSSION AND ANALYSIS

As required by Regulation 34(2) of the SEBI (Listing Regulations),a Management Discussion and Analysis, Report forms part of this Report as Annexure A.

3. STATE OF AFFAIRS OF THE COMPANY

The Company is engaged in the business of manufacturing, supply and erection of Pre-Engineered Building

(PEB) systems, structural steel fabrication and allied construction erection and site-execution services.

4. TRANSFER TO RESERVES:

During the year, the Company has not apportioned any amount to other reserve. The profit earned during the year has been carried to the balance sheet of the Company.

5. DIVIDEND:

meetin held on May 22, 2026, recommended a final The Board of Directors of the Company at their dividend of 5%, i.e. 0.50 per Equity Share of 10/- Each, for the financial year 2025-2026, subject to the approval by the Members at ensuing Annual General Meeting (AGM) of the Company.

Dividend Distribution Policy

In terms of Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (‘SEBI Listing Regulations)the Board of Directors of the Company (the ‘Board) formulated and adopted the Dividend Distribution Policy (the ‘Policy).

The Policy is available on our website at www.antarikshindustries.com

6. TRANSFER OF SHARES AND UNPAID/UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND:

There is no money lying to unpaid / unclaimed dividend account pertaining to any of the previous years with the Company. As such the Company is not required to transfer such amount to the Investor Education and Protection Fund established by the Central Government in pursuant to the provisions of Sections 124 and 125 of the Act, read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.

Further, the provisions related to the shares in respect of which dividend has not been paid/claimed for the consecutive period of seven (7) years or more which are required to be transferred to the demat account of the IEPF Authority, are not applicable to the Company.

7. SHARE CAPITAL

Authorised Share Capital

As on March 31, 2026, the Authorised Share Capital of the Company stood at 10,00,00,000/- (Rupees Ten Crores Only), comprising 1,00,00,000 (One Crore) Equity Shares of 10/- each.

Issued, Subscribed and Paid-up Share Capital

As on April 1, 2025, the Issued, Subscribed and Paid-up Equity Share Capital of the Company stood at 20,00,000/- (Rupees Twenty Lakh Only), comprising 2,00,000 (Two Lakh) Equity Shares of 10/- each.

During the year under review, the Company issued and allotted 4,940 fully paid-up Bonus Equity Shares to eligible public shareholders, other than the Promoter and Promoter Group, in the ratio of 1:10, pursuant to the approvals of the Board of Directors and the shareholders, with the objective of complying with the Minimum Public Shareholding (MPS) requirements.

Consequently, the Issued, Subscribed and Paid-up Equity Share Capital of the Company increased to 20,49,400/- (Rupees Twenty Lakh Forty-Nine Thousand Four Hundred Only), comprising 2,04,940 (Two Lakh Four Thousand Nine Hundred Forty) Equity Shares of 10/- each.

Except as stated above, there was no change in the Authorised or Issued, Subscribed and Paid-up Share Capital of the Company during the year under review.

8. CHANGE IN NATURE OF BUSINESS:

During the Financial Year 2025-2026, the Company continued its existing businessof manufacturing, supply and erection of Pre-Engineered Building (PEB) systems, structural steel fabrication and allied construction materials, together with associated erection and site-execution services.

During the year under review, the Company expanded the scope of its Main Objects. The Board of Directors, at its meeting held on February 21, 2026, approved the proposal for alterationof the Main Object Clause of the Memorandum of Association, ubsequently approved by the Members through Postal Ballot with the requisite majority, and the results thereof were declared on March 27, 2026.

The amended Main Object Clause enables the Company to diversify and undertake activities estate and infrastructure, leasing and renting,textiles, education and skill development, paper and pulp, agriculture and food processing, commodity trading, power, information technology and technology-related training, advisory and research services, subject to applicable laws and regulations.

Accordingly, there was no change in the nature of the existing business of the Company during the year under review; however, the scope of its Main Objects was expanded to enable the Company to explore and undertake additional business opportunities in the future.

9. CHANGE IN THE REGISTERED OFFICE

During the year under review, the Registered Office of the Company was

Maharashtra to the State of Gujarat pursuant to the requisite statutory approvals under the Companies Act, 2013.

Accordingly, the Registered Office was shifted from Mezzanine Area G/54, Ground Floor, Eternity Commercial Premises Co-op Society Ltd., Teen Hath Naka, L.B.S. Marg, Wagle I.E., Thane 400604, Maharashtra to 5th Floor, 505, 3rd Eye Vision, Opp. Shivalik Plaza, Panjarapole, IIM Road, Ahmedabad 380015, Gujarat w.e.f. 01/04/2026.

The requisite statutory filings in connection with the aforesaid shifting of the Registered Office were duly completed with the Registrar of Companies.

10. SUBSIDIARIES/ASSOCIATES/ JOINT VENTURES

The Company does not have subsidiaries, associates and joint ventures companies in the period under review.

11. PUBLIC DEPOSITS

During the period under report, the Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014 (as amended from time to time).

12. MANAGEMENT - DIRECTORS AND KEY MANAGERIAL PERSONNEL

CHANGE IN CONTROL, MANAGEMENT AND RECONSTITUTION OF THE BOARD

During the year under review, there was a change in the control and management of the Company pursuant to the acquisition of equity shares and control of the Company by Mrs. Gitaben Nitinbhai Patel ("Acquirer") from Mr. Bhagwanji Narsi Patel and Mr. Utkarsh Goyal ("Outgoing Promoters"), in accordance with the applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and other applicable laws. Pursuant to completionof the acquisitionand the Open Offer, the Acquir er acquired an aggregate of 1,50,599 equity shares, representing 75.30% of the paid-up equity share capital of the Company, comprising 1,03,400 equity shares representing 51.70% acquired from the Outgoing Promoter(s) and 47,199 equity shares representing 23.60% acquired pursuant to the Open Offer. Consequently, the Acquirer became the Promoter and acquired control of the Company.

Consequent upon the change in control, the Board of Directors and Key Managerial Personnel of the Company were reconstituted during the year. Mrs. Ekta Shyamlal Haryani was appointed as Managing Director with effect from Hasmukhbhai Kothari, Mr. Harinarayan November 5, 2025, while Mr. Nilesh Ramanand Tripathi, Mr. Hardikkumar Dhirubhai Jetani and Mr. Jigar Nemichand Jain were appointed as Directors with effect from November 4, 2025. Consequently, Mr. Bhagwanji Narsi Patel, Mr. Utkarsh Goyal, Mr. Manish Heeralal Chandak and Mrs. Sandhya Krishna Karanjavkar ceased to be associated with the Board with effect from November 4, 2025.

Further, Mr. Ankur Vasudevbhai Patel was appointed as Chief Financial Officer and Mrs. Namrata Sureshkumar Jain was appointed as Company Secretary & Compliance Officer with effect from November 5, 2025. Mr. Utkarsh Goyal, Chief Financial Officer, and Mr. Ravi Dinesh Kothari, Company Secretary & Compliance Officer, ceased to hold their respective positions with effect from November 4, 2025.

The aforesaid changes in control, management, composition of the Board and Key Managerial Personnel were duly effected in accordance with the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The requisite disclosures and intimations were duly made to the Stock Exchange(s) and other regulatory authorities, as applicable.

The new management has assumed responsibility for the affairs of the Company and is committed to strengthening the Companys operations and creating sustainable value for all stakeholders.

DIRECTORS

Your Company has well constituted Board, in accordance with the provisions of the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Articles of Association Company.

As of March 31, 2026, your Companys Board consist of five members comprising ofOne Executive Director (Women Director), One Non-Executive Non -Independent Director and three Independent Directors. The details of Board of Directors are as follows:

Name	Designation	Date of Appointment	No. of Directorships in Other Public Companies	No. of committee positions in other public Companies		Name of listed Companies Where Directorship is held
				Member	Chairman
Ekta Shyamlal Haryani	Managing Director	05/11/2025	0	0	0	Nil
Nilesh Hasmukhbhai Kothari	Non- Executive Director	04/11/2025	0	2	0	Axita Cotton Limited Yuranus infrastructure Limited
Harinarayan Ramanand	Independent Director	04/11/2025	0	2	1	Nil
Tripathi Hardikkumar Dhirubhai	Independent Director	04/11/2025	0	2	1	Nil
Jetani Jigar Nemichand Jain	Independent Director	04/11/2025	0	1	1	Nil

Total Directorship excluding LLPs, Section 8 Company & struck of Companies.

Committee includes Audit Committee andStakeholders Relationship Committeeacross all Public Companies including Antariksh Industries Limited

In accordance with the Articles of Association and the relevant provisions of the Companies Act, 2013, Mr Nilesh Hasmukhbhai Kothari, Director of the Company retires by rotation at this Annual General Meeting and being eligible, has offered himself for re-appointment. The Board recommends his re-appointment for the approval of the Shareholders of the Company.

KEY MANAGERIAL PERSONNEL:

As on the date of this report, the following are Key Managerial Personnel ("KMPs") of the Company as per Sections 2(51) and 203 of the Act:

Sr. No.	Name	Designation
1	Ekta Shyamlal Haryani	Managing Director
	(w.e.f. 05/11/2025)
2	Ankur Vasudevbhai Patel	Off icer ChiefFinancial
	(w.e.f. 05/11/2025)
3	Namrata Sureshkumar Jain	Company Secretary & Compliance Officer
	(w.e.f. 05/11/2025)

Further, in pursuance of Regulation (Listing Obligations15(2) of and Disclosure SEBI Regulations, 2015 ("Listing Regulations"), paid up equity share capital not exceeding rupees ten crore and net worth not exceeding rupees twenty-five crores, as on the last day of the previous financial year. So, provisions Obligationsand Disclosurecontained Requirements) in Regulation 17 to 27 of (Listing Regulations, 2015 are not applicable to the Company.

13. DECLARATION FROM INDEPENDENT DIRECTORS OF THE COMPANY

All Independent Directors (IDs) have given declaration that they meet the criteria of independence as laid down undersection 16(1)(b) of SEBI (Listing Obligations 149(6)oftheCompaniesAct,2013andRegulation and Disclosure Requirements) Regulations, 2015. Further, during the year under review, the Company did its Directors, other than payment of not have any pecuniary remuneration / Incentive to the Executive Directors and payment of sitting fees, commissionNon- to executive Directors and reimbursement of expenses incurred by them forthepurposeofattendingmeetings of the Board / Committees of the Company.

14. DIRECTORS RESPONSIBILITY STATEMENT

Based on the framework of internal financial controls and compliance system established and maintained by the Company, work performed by the internal, statutory, cost, and secretarial auditors and external agencies including audit of internal financial controls over financial reporting by the statutory auditors and the reviews performed by Management and the relevant Board Committees, including the Audit Committee, the Board is of the opinion that the Companys internal financial controls were adequate and effective during financial year 2025-2026.

Section 134(5) of the Companies Act, 2013, the InaccordancewiththeprovisionsofSection134(3)(c)and

Board of Directors confirms that to the best of its knowledge and belief:

a. in the preparation of the annual accounts, the applicable accounting standards have been followed and that there were no material departures; b. they 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 theprofit of the Company for that period; c. they 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. they had prepared the annual accounts on a going concern basis; e. they had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; f. they had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were in place, are adequate and operating effectively.

15. 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 Company has taken measures and applied to endeavour strictcontrolsystemtomonitorday to day power consumption, to ensure the optimal use of energy with minimum extent possible wastage as far as possible. The day to day consumption is monitored and various waysandmeansareadoptedtoreducethepowerconsumptionin an effort to save energy. ii) The steps taken by the Company for utilizing alternate sources of energy: The Company has not taken any step for utilizing alternate sources of energy. iii) The capital investment on energy conservation equipment: During the year under review, Company has not incurred any capital investment on energy conservation

B. Technology absorption i) The effort made towards technology absorption: The Company has not imported any technology and hence there is nothing to be reported here. ii) The benefit derived like product improvement, cost reduction, product development or import substitution: None iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year) a. The details of technology imported: None b. The year of import: None c. Whether the technology has been fully absorbed: None d. If not fully absorbed, areas where absorption has not taken place, and the reasons thereof: None

C. The expenditure incurred on Research and Development: NIL

D. Foreign Exchange Earnings & Expenditure:

Earnings - Nil Outgo - Nil

16. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE

COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THE FINANCIAL STATEMENTS RELATES AND THE DATE OF THE REPORT

There are no material changes and commitments, affecting the financial position of the Company occurred between the end of financial year and the date of this Report, except as stated specifically in this Report.

17. PARTICULAR OF EMPLOYEES

During the period under review no employee was paid remuneration in excess of the limit specified under Rule 5(2) of the Companies (Appointment and Remuneration) Rules, 2014. Disclosure pursuant to Section 197(12) of the Act forms part of Report. The Reports and Accounts are being sent to Members and other information on employees inspection by particulars which is available Office Company during business hours on any working day. If any the Members at the Registered member is interested in obtaining a copy thereof, such member may write to Company Secretary in this regard. The Report is presented in a separate section forming part of this Annual Report as Annexure - B.

Nomination and Remuneration Policy

The Board has, on the recommendation of the Nomination and Remuneration Committee framed a policy for selection and appointment of Directors, Senior Management and their remuneration to align with the requirement of the Act and LODR. Remuneration policy can be assessed at www.antarikshindustries.com

18. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES

ACT, 2013

Particulars of loans given, investments made, guarantees given and securities provided along with the purpose for which the loan or guarantee or security is proposed to be utilized by the recipient are provided in the notes to the Financial Statements which is a part of this Annual Report.

19. FAMILIARIZATION PROGRAM FOR INDEPENDENT DIRECTORS

In compliance with the requirements of the SEBI (Listing Obligations & Disclosure Requirements) Regulations,2015, the Company has formulated a policy to familiarize the Independent Directors with the Company. The management provides information as detailed in the Familiarization Policy for the Independent Directors either at the Board meeting(s) or committee meeting(s) or otherwise. Periodic presentations were made at the Board and /or Committee meetings thereof on various matters, inter-alia, covering business and performance updates, finance, quality, human resources, quarterly and financial results, status of the compliance of the applicable laws and such other areas as may arise, from time to time, where directors get an opportunity to interact with the Company management. Each Director of the Company has complete access to any information relating to the Company. Independent Directors have the freedom to interact with the Companys management. They are given all documents sought by them for enabling a good understanding of the Company, its various operations and industry segments of which it is a part.

During the year the Company continuously through its various Board meeting(s) facilitated Directors to familiarize about the Company performance and in turn helped them in their activeparticipation in managing the affairs of the Company.

Familiarization Programme undertaken for Independent Directors is provided on the website of the Company at www.antarikshindustries.com

20. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

During the year under review, all the related party on arms length basis. Therefore, the disclosure in Form AOC-2 pursuant to compliance of Section 134(3)(h) of the Companies Act, 2013 and Rule 8(2) of the Companies (Accounts) Rules, 2014 is not required. There were no material significant related party transactions with any of the related parties that may have potential conflict with the interest of the Company at large.

The disclosures as required in IND-AS are provided in relation to transactions forming the part of the notes to financial statement. The policy on Related Party Transactions by the Board may be available on the website of the Company at www.antarikshindustries.com

21. AUDITORS

Statutory Auditors:

The term of M/s. DMKH & CO., Chartered Accountants, (Firm Registration No.116886W), as Statutory Auditors of the Company is due to expire at the conclusion of the ensuing 51st Annual General Meeting upon completion of their permissible tenure under

Accordingly, based on the recommendation of the Audit Committee, the Board of Directors has recommended the appointment of M/s. Nitin K Shah & Co., Chartered Accountants (FRN: 107140W) , as Statutory Auditors of the Company for a term of five consecutive years, commencing from the conclusion of the ensuing 51st Annual General Meeting until the conclusion of the 56 th Annual General Meeting, subject to the approval of the Members.

The proposed Statutory Auditors have confirmed their eligibility and consent to act as Statutory Auditors of the Company, if appointed, and have further confirmed that their appointment, if made, shall be in accordance with the applicable provisions of the Companies Act, 2013 and the rules made thereunder.

The Board recommends the proposed appointment of M/s. Nitin K Shah & Co., Chartered Accountants, (FRN: 107140W), for approval of the Members at the ensuing 51st Annual General Meeting.

EXPLANATION OR COMMENTS BY THE BOD ON EVERY QUALIFICATION, RESERVATION OR ADVERSE REMARK OR DISCLAIMER MADE BY THE AUDITORS IN AUDIT REPORT

The Auditors Report for financial year 2025-26 forms part of this Annual Report and does not contain any qualification, reservation or adverse remark or disclaimer which requires the clarification of the Management of the Company.

Secretarial Auditors

The Board has appointed Mr. Pitroda Nayan & Co, Practicing Company Secretary (Membership No. 58473 & Certificate of Practice No. 23912) as Secretarial Auditors of the Company to carry out Secretarial Audit of the Company for the financial year2025-26, pursuant to the provision of Section 204 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 at its meeting duly held onFebruary 21, 2026.

Further, pursuant to the provision of Section 204 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, The Secretarial Audit Report for the financial year ended March 31, 2025 is annexed herewith as Annexure C, which forms part of this report.

EXPLANATION OR COMMENTS BY THE BOARD ON EVERY QUALIFICATION, RESERVATION OR ADVERSE REMARK OR DISCLAIMER MADE BY THE PCS IN SECRETARIAL AUDIT REPORT

The Secretarial Audit Report for the year ended on March 31, 2026 does not contain any qualifications, reservations or adverse remarks which requires the clarification of the Management of the Company except as provided below. The explanation/comment table:

Sr. No.	Auditors Remark	Explanation/Comment of the Management
1	As per regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, The company delayed in publishing the newspaper advertisement regarding the financial results for the quarter ended September 2025.	The delay occurred during the tenure of the previous management and was due to an oversight in ensuring timely compliance with the applicable disclosure requirements. The present management has taken note of the matter and has strengthened the internal compliance and monitoring mechanism to ensure timely adherence to the applicable statutory and regulatory requirements and to avoid recurrence of such instances in the future.

Internal Auditors

Pursuant to provisions of Section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts) Rules, 2014 and other applicable provisions if any of the Companies Act, 2013 M/s Varun Golechha & Associates, a Partnership firm (Firm Registration No.140302W), was appointed as an Internal Auditor of the Company for Internal Audit of the Company for F.Y. 2025-2026.

The Company continued to implement his suggestions and recommendations to improve the control systems. Their scope of work includes review of processes for safeguarding the assets of the Company, review of operational efficiency, effectiveness of systemsand processes, and assessing the internal control strengths in all areas. Internal Auditors findings are discussed with the process owners and suitable corrective actions taken as per the directions of Audit Committee on an ongoing basis to improve efficiency in operations.

Cost Auditors and Cost Audit:

In terms of the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014, as amended fromtime to time, the Company is not required to maintain the Cost Records and Cost Accounts. Hence, the appointment of Cost Auditors is not applicable to the Company.

22. WEBSITE OF YOUR COMPANY

Your Company maintains a website www.antarikshindustries.com where detailed information of the Company and specified details in terms of the Companies Act, 2013 and SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 has been provided.

23. VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has adopted Vigil Mechanism / Whistle Blower Policy, which was approved and adopted by the Board of Directors of the Company. The policy enables the employees to report to the management instances of unethical behaviour actual or suspected fraud or violation of Companys Code of Conduct. This and Directors who wish to use the providesforadequatesafeguards against the victimization vigil mechanism to bring any wrong deed(s) to the notice of the Company.

During the year under review, the implementation of the vigil mechanism has been properly and regularly monitored by the Audit Committee. None of the Whistle blowers has been denied access to the Audit Committee of the Board. The Whistle Blower Policy of the Company is available on the website of the Company at www.antarikshindustries.com

24. CORPORATE SOCIAL RESPONSIBILITY AND CORPORATE SOCIAL RESPONSIBILITY COMMITTEE

Pursuant to Section 135(1) of the Companies Act, 2013 every Company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during the immediately preceding financial year hall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more Directors, out of which at least one Director shall be an independent director.

Your Companys Net Profit (Profit before Tax) of Rs.55.03 Lakh during the immediately preceding financial year (i.e. F.Y. 2024-2025), which is below the above provisions of CSR does not apply to your Company.

25. MEETINGS OF THE COMPANY

Regular meetings of the Board are held at least once in a quarter. Additional Board meetings are convened, as and when require, to discuss and decide on various business policies, strategies and other businesses. The Board meetings are generally held at registered office of the Company. The gap between two consecutive meetings was not more than one hundred and twenty days as provided in section 173 of Companies Act, 2013.

During the Financial Year 2025-26, Eight (8) Board Meetings were heldrespectively on, May 30, 2025, August 02, 2025, October 10, 2025, November 04, 2025, December 03, 2025, January 12, 2026, February 12, 2026 and February 21, 2026. All the Meetings were held in person.

The last Annual General Meeting (50th AGM) was held on Thursday, September 04, 2025 at 12:00 P.M. (IST) at Registered - G/54, Ground Floor, Eternity Commercial Premises Co-Op Society Ltd, Teen Hath Naka, L.B.S Marg, Wagle I.E., Thane 400604. Attendance record of each of the Directors at the Board Meetings during the Financial Year 2025-26 and at the last Annual General Meeting are given below:

Name of Director	Appointment Date	Date	No. of Board Meeting held	No of Board Meetings Eligible to attend	No. of Board Meeting attended	Presence at the previous AGM
Mr. Bhagwanji Narsi Patel	29-08-2016	04-11-2025	8	4	4	Yes
Mr. Utkarsh Goyal	29-08-2016	04-11-2025	8	4	4	Yes
Mrs. Sandhya Krishna Karanjavkar	13-07-2018	04-11-2025	8	4	4	Yes
Mr. Manish Heeralal Chandak	01-02-2023	04-11-2025	8	4	4	Yes
Ekta Shyamlal Haryani	05-11-2025	-	8	4	4	NA
Nilesh Hasmukhbhai Kothari	04-11-2025	-	8	4	4	NA
Harinarayan Ramanand Tripathi	04-11-2025	-	8	4	4	NA
Hardikkumar Dhirubhai Jetani	04-11-2025	-	8	4	4	NA
Jigar Nemichand Jain	04-11-2025	-	8	4	4	NA

Annual Evaluation of Board of Directors and Independent Directors

Duringtheyear,theBoardofDirectors,IndependentDirectorsandNomination& Remuneration

Directors including Independent Directors, carriedoutanannualevaluation

Board as a whole, Committee of the Board and the Chairman of the Company based on various parameters or criteria pursuant to the provisions of the CompaniesAct,2013,SEBIListingRegulationsand Nomination . &Remuneration

Separate Meeting of Independent Directors

A separate meeting of Independent Directors of the Company without the presence of the

Directors & the Management Representatives was held on30th May, 2025. The Independent Directors reviewed the performance of Non-Independent Directors and the Board as a whole; the performance of the Chairman of the Company, taking into account the views of Executive Directors and Non-Executive Directors and assessed the quality, quantityand timeliness of flow of information between the Company Management and the Board that is necessary for the Board to duties.

26. COMMITTEE OF BOARDS

As required by the provisions of the Act and Listing Regulations,the Company has already formed the following Committees.

The Board of Directors has constituted 3 Committees of the Board viz.

Audit Committee

Nomination and Remuneration

Stakeholders Relationship Committee

The Board of Directors in line with the requirement of the act has formed various committees details of which are given hereunder.

Audit Committee

Brief description of terms of reference

The Audit Committee acts as a link among the Management, the Statutory Auditors, Internal Auditors and the Board of Directors to oversee the financial reporting process of the Company. The Committees purpose is to monitor financial reporting processes, review the Companys established system and processes for internal financial controls, governance and to review the Companys statutory and internal audit activities. The Company Secretary of the Company acts as a Secretary to the Committee. The Chairman of the Committee is an Independent Director having knowledge in Finance. Broad Terms of Reference of the Committee inter-alia include:

Recommending appointment/re-appointment and remuneration of Auditors to the Board and performance evaluation of Auditors of the Company;

Review of management discussion and analysis of financial condition and results of operations

Review of management letters / letters of internal control weaknesses issued by the statutory auditors

Review of internal audit reports relating to internal control weaknesses

Review of Companys financial statements, internal financial reporting process and the audit process;

Review of adequacy, reliability and effectiveness of internal financial controls, risk management process and vigil mechanism;

Approval of related party transactions;

Monitoring of process for compliance with laws, regulations and the code of conduct;

Review of compliance with provision of SEBI Insider Trading Regulations, 2015;

Scrutiny of inter-corporate loans and investments.

Meetings, Attendance & Composition of the Audit Committee

Six (6) Audit Committee Meetings were held during the year 202 5-26 i.e. on May 30, 2025, August 02, 2025, October 10, 2025, November 04, 2025, February 12, 2026 and February 21, 2026. The gap between two never exceeded 120 days. consecutive

The composition of theAuditCommitteeandthedetailsofthemeetings attended by its members during the financial year ended March 31, 2026 are as under:

Sr. No.	Name	Category of Director	Designation	No. of Meetings held	No. of Meetings Attended
1	Mr. Manish Heeralal Chandak (up to 04-11-2025)	Non-Executive, Independent Director	Chairman	6	4
2	Mrs. Sandhya Krishna Karanjavkar (up to 04-11-2025)	Non-Executive, Independent Director	Member	6	4
3	Mr. Bhagwanji Narsi Patel (up to 04-11-2025)	Executive Director	Member	6	4
4	Mr. Harinarayan Ramanand Tripathi (w.e.f. 04-11-2025)	Non-Executive, Independent Director	Chairman	6	2
5	Mr. Hardikkumar Dhirubhai Jetani (w.e.f. 04-11-2025)	Non-Executive Independent Director	Member	6	2
6	Mr. Nilesh Hasmukhbhai Kothari (w.e.f. 04-11-2025)	Non-Executive Non-Independent Director	Member	6	2

Nomination and Remuneration

The Nomination and RemunerationCommittee (NRC) has been constituted in compliance with the requirements mandated underSection 178 of the Companies Act, 2013 and Regulation 19 read with Part D of Schedule II of the SEBI Listing Regulations. Apart from the above, the Committee also carries out such functions/ responsibilities entrusted to time on it by the Board . The Company of Directors from Secretary of the Company acts as a Secretary to the Committee.

Broad Terms of Reference of the Committee inter-alia include:

Formulation of criteria for determining qualifications, positive and recommending to the Board a policy, relating to remuneration for the directors, key managerial personnel and other senior level employees;

Identify Independent Directors to be inducted into the Board from time to the composition of the Board from time to time;

Formulation of criteria for evaluation of performance of Independent Directors and the Board;

Devising a policy on diversity of Board of Directors;

Identification of persons who are qualified to become Directors and who may be appointed in senior management in accordance with the criteria laid down and recommend to the Board their appointment and removal;

To decide whether to extend or continue the term of appointment of the Independent Director, on the basis of the report of performance evaluation of Independent Directors;

Recommend to the board, all remuneration, in whatever form, payable to senior management;

To carry out any other function as is mandated by the Board from time to time and /or enforced by any statutory notification, amendment or modification, as may be applicable.

Meetings, Attendance & Composition of the NRC Committee

Two (2) NRC Committee Meetings were held during the year 2025-26 i.e. on May 30, 2025, and November 04, 2025. The composition of the NRC Committee and the details of the meetings during the financial year ended March 31,2026 are as under

Sr. No.	Name	Category of Director	Designation	No. of Meetings held	No. of Meetings Attended
1	Mr. Manish Heeralal Chandak (up to 04-11-2025)	Non-Executive, Independent Director	Chairman	2	2
2	Mrs. Sandhya Krishna Karanjavkar (up to 04-11-2025)	Non-Executive, Independent Director	Member	2	2
3	Mr. Utkarsh Goyal (up to 04-11-2025)	Executive Director	Member	2	2
4	Mr. Jigar Nemichand Jain (w.e.f. 04-11-2025)	Non-Executive, Independent Director	Chairman	2	0
5	Mr. Harinarayan Ramanand Tripathi (w.e.f. 04-11-2025)	Non-Executive, Independent Director	Member	2	0
6	Mr. Nilesh Hasmukhbhai Kothari (w.e.f. 04-11-2025)	Non-Executive Non-Independent Director	Member	2	0

Stakeholders Relationship Committee (SRC)

The Stakeholders Relationship Committee (SRC) has been constituted by the Board of the Directors in accordance with the requirements mandated under Section 178 of the Companies Act, 2013 and Regulation 20 read with Part D of Schedule II of SEBI Listing Regulations .

Broad Terms of Reference of the Committee inter-alia include:

Resolving the grievances of the security holders of the Company including complaints related to transfer/transmission of shares, non-receipt of annual report, non-receipt of declared dividends, issue of new/duplicate certificates, general meetings etc;

Review of measures taken for effective exercise of voting rights by shareholders;

Review of various services being rendered by the Registrar & Share Transfer Agent;

Review of the various measures and initiatives taken by the Company for reducing the quantum of unclaimed dividends and ensuring timely receipt of dividend warrants/annual reports/statutory by the shareholders of the company.

Shareholders Complaints are redressed through SEBI Complaints Redress System (SCORES). Shareholders Complaints:

Particulars	Complaints
No. of complaints pending as on April 1, 2025	0
No. of complaints received during the year	0
No. of complaints disposed off during the year	0
No. of complaints not solved to the satisfaction of shareholders	0
No. of complaints pending as on March 31, 2026	0

Meetings, Attendance & Composition of the SRC Committee:

Two (2) SRC Committee Meetings were held during the year 2024-25 i.e. May 30, 2025, and November 04, 2025.

The composition of the SRC Committee and the details of the meetings attended by its members during the financial year ended March 31, 2026 are as under:

Sr. No.	Name	Category of Director	Designation	No. of Meetings held	No. of Meetings Attended
1	Mrs. Sandhya Krishna Karanjavkar (up to 04-11-2025)	Non-Executive, Independent Director	Chairperson	2	2
2	Mr. Manish Heeralal Chandak (up to 04-11-2025)	Non-Executive, Independent Director	Member	2	2
3	Mr. Utkarsh Goyal (up to 04-11-2025)	Executive Director	Member	2	2
4	Mr. Hardikkumar Dhirubhai Jetani (w.e.f. 04-11-2025)	Non-Executive, Independent Director	Chairperson	2	0
5	Mr. Harinarayan Ramanand Tripathi (w.e.f. 04-11-2025)	Non- Independent Director Non-Executive	Member	2	0
6	Mr. Nilesh Hasmukhbhai Kothari (w.e.f. 04-11-2025)	Non-Independent Director	Member	2	0

27. RISK MANAGEMENT

During the Financial Year 2023-2024, the Company was exempted under regulation21 of SEBI (Listing Obligation Regulations, 2015 from reporting of risk management. board is and Disclosure requirements) fully aware of Risk Factor and is taking preventive measures wherever required.

The Company has a mechanism in place to inform Board Members about the risk assessment and minimization procedures. The details of the identification of the various risk associated with the business of the Company which in the opinion of the Board may threaten existence of the Company is detailed in the enclosed Management Discussion & Analysis Report ("MDAR").

There are no risks which in the opinion of the Board threaten the existence of the Company. Discussion on risks and concerns are covered in the Management Discussion and Analysis Report (MDA), which forms a part of this Annual Report.

28. DISCLOSURE RELATION TO REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

The details of remuneration paid during the financial year 2025-2026 to Directors and Key Managerial Personnel of the Company is provided in Form MGT- 7 which is uploaded on the website of the Company at www.antarikshindustries.com

29. LISTING FEES

Annual Listing Fees for the Financial Year 2025-26 was paid before due date to BSE Limited.

The Company has timely paid Listing fees for FY 2025-26.

30. SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

Your Company has in place a policy on Prevention of Sexual Harassment at workplace. This policy is in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. All employees, whether permanent, contractual, temporary and trainees are covered under this Policy. As per the said Policy, an Internal Complaints Committee complaints received regarding sexual harassment.

Your directors state that during the year under review there was no female employee in the Company and there were no complaints relating to sexual harassment nor any cases filed pursuant to the said Act. The summary of the same in provided below:

Sr. No.	Particular	No. of Compliant/cases
1.	Number of complaints of sexual harassment received in the year	0
2.	Number of complaints disposed off during the year	0
3.	Number of cases pending for more than ninety days	0

31. COMPLIANCE OF THE PROVISIONS RELATING TO MATERNITY BENEFIT ACT, 1961:

During the period under review, the Company did not have any women employees. Accordingly, the relevant provisions pertaining to women employees were not applicable to the Company during the said period.

32. ANNUAL RETURN

As required under the provisions of Section 134(3)(a) and Section 92(3) of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014, (including any statutory modification(s) -enactment thereof, for the time being in force), the Annual Return in Form re No. MGT-7 is displayed on the website of the Company at www.antarikshindustries.com

33. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has put in a place an adequate and effective Internal Control Mechanism to ensure efficient conduct of its operations, security of assets, prevention and and completeness of the accounting and business records and timely preparation of financial statements and related information. These internal control systems are then carried out by the Internal Auditor of the Company and periodical review by the management. The Company has put in place Proper and adequate controls, which are reviewed at regular intervals to ensure that the business decisions and transactions are properly authorized, are safeguarded from loss, damage and misuse.

In addition to above, the Company has formulated a Vigil Mechanism and Whistle Blower Policy for its Directors and employees of the Company for reporting genuine concern about unethical practices and suspected mal-practices.

34. CORPORATE GOVERNANCE

Your Company strives to incorporate the appropriate standards for corporate governance. However, pursuant to Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Company is not company is not falling under the criteria mention in regulations Obligations and Disclosure Requirements) Regulations, 2015 and a separate report on Corporate Governance.

However, Company is complying with few of the exempted regulations provided respective headingthisreportunderthe .

35. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR

TRIBUNALSIMPACTING THE GOING CONCERN STATUS OF THE COMPANY

There were no significant and material orders issued against the Company by any regulatory authority or court or tribunal during the year operationin that could affect the going concern status and Companys future.

36. SECRETARIAL STANDARDS

Secretarial Standards as applicable to the Company were followed and complied with during the Financial Year 2025-26.

37. PREVENTION OF INSIDER TRADING

In accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended from time to time, the Board of Directors of the Company has adopted a Code of Conduct to Regulate, Monitor, Report Trading by Insiders to determine the insider trading in the securities of the Company based on the unpublished price disclosure of unpublished price sensitive sensitiveinformationandCodeof information of fair disclosure.

38. HEALTH, SAFETY AND ENVIRONMENT

The safety excellence journey is a continuing process of the Company. The Company provide safety environment to the employees & workers of the Company. The Company also gives safety tips to workers. The Company has given all the safety equipment to the workers. The Company also takes care of the health of the workers during their work. The company has maintained a friendly environment so that if any employee or worker faces any problem, he can directly talk to the concerned person. The Company also checking the workers during their works.

39. HUMAN RESOURCES AND INDUSTRIAL RELATIONS

The Company believes that the quality of the employees is the key to its success and is committed to equip them with skills. The Company provides to the employees a fair and equitable work environment and support from their peers with a view to develop their capabilities leaving them with the freedom to act and to take responsibilities for the task assigned. The Company has strongly embedded core values and all employees are trained and encouraged to use these values in their daily operations and the bases for making decisions. The Companys management has always carried out systematic appraisal of performance and imparted training at periodic intervals. The Company has always recognized talent and has judiciously followed the principle of rewarding performance. This has helped to ensure all employees are aligned and focused on key objectives and key performance indicators critical for the Companys performance. In order to meet steady flow of talent, Company has appointed experienced professionals in Technical as well as Commercial Departments. Apart from that, as a strategic policy, every year, Company hires new pool of talent from reputed technical / petroleum institutes through campus selection process.

In adding up, the Company is committed to nurturing, enhancing and retaining top talent through superior Learning and Organizational Management. The Industrial relation of the Company customers, financial lenders and employees is cordial.

40. ENHANCING SHAREHOLDERS VALUE

Your Company believes that its members are its most important stakeholders. The Company accords top priority for creating and enhancing shareholders value. All the Companys operations are guided and aligned towards maximizing shareholders value. Your Company is also committed to creating value for its other stakeholders by ensuring that its corporate actions positively impact the socioeconomic and environmental dimensions and contribute to sustainable growth and development.

41. APPLICATION MADE OR PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016

Not applicable, as there were no proceedings pending under the Insolvency and Bankruptcy Code, 2016.

42. REPORTING OF FRAUD BY AUDITORS

There have been no instances of fraud reported by the Auditors u/s 143 (12) of the Companies Act, 2013 and rules framed thereunder either to the Company or to the Central Government.

43. OTHER DISCLOSURES

Your Directors state that the Company has made disclosures in this report for the items prescribed in 134 (3) of the Act and Rule 8 of The Companies (Accounts) Rules, 2014 and other applicable provisions of the act and listing regulations, to the xtent the transactions took place on those items during the year. Your Directors further state that no disclosure or reporting is required in respect of the following items as there were no transactions on these items during the year under review;

1) Issue of Equity Shares with differential rights as to dividend, voting or otherwise;

2) Issue of shares (including sweat equity shares) to employees of the Company under any scheme save and ESOS;

3) Annual Report and other compliances on Corporate Social Responsibility;

4) Application made or any proceeding pending under the Insolvency and Bankruptcy

5) There is no revision in the Board Report or Financial Statement;

6) No significant or material orders were passed by the Regulators or Courts or Tribunals which impact the going concern status and Companys operations in future;

7) The details of difference between amount of the valuation done at the time of one time settlement the valuation done while taking loan from the Banks or Financial Institutions along with the reasons thereof.

8) One time settlement of loan obtained from the banks or financial institutions.

44. APPRECIATION & ACKNOWLEDGEMENTS

Your Directors wish to place on record their sincere appreciation for the continuous cooperation, support and assistance provided by all stakeholders, financial institutions, banks, government bodies, technical collaborators, customers, dealers and suppliers of the Company.

Your Directors also wish to place on record their sincere appreciation for the contribution made by our dedicated and loyal employees at all levels. Our consistent growth was made possible by their hard work, solidarity, cooperation and support.

	For and on behalf of Board of Directors
	Antariksh Industries Limited
Date: August 13, 2026	Sd/-
Place: Ahmedabad	Ekta Shyamlal Haryani
	Managing Director
	DIN: 11308356