Apollo Ingredients Ltd Directors Report

To,

The Members,

Apollo Ingredients Limited

(Formerly known as Indsoya Limited)

Your Directors are pleased to present their 45th Annual Report on the state of affairs of the Company together with the Audited Financial Statement (Standalone) of Accounts and the Auditors Report of

Apollo Ingredients Limited (formerly known as Indsoya Limited) ["the Company] for the year ended 31st March, 2025.

1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY

The Company Financial Performance (Standalone) for the financial year ended on 31st March, 2025 under review is given hereunder:

(Amount in Lakhs)

PARTICULARS	Standalone Financial Statements
	2024-2025	2023-2024
Net Sales /Income from Business Operations	307.48	100.00
Other Income	.71	0.30
Total Income	308.19	100.30
Less: Total Expenses	295.01	92.07
Profit/(Loss) before Exceptional Item and tax	13.18	8.23
Less: Exceptional Item	-	-
Profit/(Loss) before tax	13.18	8.23
Less: Current Income Tax	3.42	2.14
Less: Deferred Tax	-	-
Net Profit/(Loss) after Tax	9.75	6.09
Earning per share (Basic)	2.44	1.52
Earning per Share (Diluted)	2.44	1.52

2. REVIEW OF OPERATIONS

During the year under review, the Standalone total Income was Rs. 308.19 lakhs against Rs. 100.30 lakhs for the corresponding previous year.

Total Comprehensive profit for the period was Rs. 9.75 lakhs as against Rs. 6.09 lakhs in the corresponding previous year.

The Company is deploying its resources in the best possible way to increase business volumes and plans to achieve increased business.

3. DIVIDENDS

In order to conserve resources for future growth and expansion, the Directors do not recommend any dividend on equity share capital of the Company for the Financial Year ended on 31st March, 2025. Also, dividend distribution policy is not applicable on the company.

4. TRANSFER TO RESERVES

As no transfer to any reserve is proposed, the entire balance available in the statement of profit and loss is retained in it.

5. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND

The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there was no dividend declared and paid last year.

6. CHANGE IN THE NATURE OF THE BUSINESS

No change in the nature of business activities during the year.

7. MANAGEMENT DISCUSSION AND ANALYSIS

The Management Discussion and Analysis as required in terms of the Listing Regulations is annexed to the report as Annexure I and is incorporated herein by reference and forms an integral part of this report.

8. BUSINESS OUTLOOK

The Company is poised to position itself as an integrated healthcare solutions provider with a multi-disciplinary approach. Leveraging its broad object clause, the Company intends to engage in the manufacturing, import, and export of Ayurvedic, Homeopathic, and Allopathic medicines, while also expanding into the planning, commissioning, and management of healthcare institutions including hospitals, diagnostic centres, wellness centres, and pathology labs.

In addition, the Company aims to offer value-added services such as medical and clinical audits, hospital consultancy, and healthcare manpower solutions including paramedical and nursing support. With increasing demand for holistic, quality, and affordable healthcare, the Company plans to capitalize on emerging opportunities across both traditional and modern systems of medicine, infrastructure development, and healthcare support services both in India and globally.

9. SHARE CAPITAL

As on 31st March, 2025, the Authorised share capital of the Company is Rs. 10,00,00,000/- (Rupees Ten Crore only) divided into 2,00,00,000 (Rupees Two Crore only) Equity Shares of Rs 05/-

(Rupees Five only) each; and Issued, Subscribed and Paid-up share capital of the Company is Rs.

20,00,000/- (Rupees Twenty Lakhs only) divided into 4,00,000 (Four Lakh) Equity Shares of Rs. 05.00/- (Rupees Five only) each. The Company has only one class of equity shares having at par value of Rs. 05/- per share. Each holder of equity shares entitled to one vote per share.

Pursuant to the Letter of Offer dated 07th July, 2025, and subsequent allotment under the Rights Issue in the ratio of 25:1 (i.e., twenty-five equity shares for every one equity share held), the Companys paid-up share capital was increased from Rs. 20,00,000/- (Rupees Twenty Lakhs only), divided into 4,00,000 (Four Lakh) equity shares of Rs. 5/- (Rupees Five only) each, to Rs. 5,20,00,000/- (Rupees Five Crore Twenty Lakhs only), divided into 1,04,00,000 (One Crore Four Lakh) equity shares of Rs. 5/- (Rupees Five only) each. The allotment of shares pursuant to the Rights Issue was completed on 12th August, 2025.

10. DIRECTORS AND KEY MANAGERIAL PERSONNEL

a) Changes in Directors:

? Directors as on 31st March, 2025:

S. No.	Name of Director	DIN	Designation
1.	Lovely Ghanshyam Mutreja	03307922	Managing Director
2.	James Mody	08072328	Director
3.	Kirit Ghanshyam Mutreja	07514391	Director
4.	Suvarna Ramchandra Shinde	09751614	Independent Director
5.	Maharshi Anand Tomar	10272427	Independent Director

? The Board of Directors at its meeting held on 09/08/2024, have approved the appointment and resignation of below Directors:

S. No.	Name of Director	DIN	Cessation/Appointment	Effective Date	Designation
1.	Lalita Ghanshyam Mutreja	07514392	Cessation	08/08/2024	Non- Executive Director
2.	James Mody	08072328	Appointment	09/08/2024	Non- Executive Director

b) Key Managerial Personnel:

? Pursuant to Section 203 of the Companies Act, 2013, the Key Managerial Personnel of the Company as on 31st March, 2025:

S.No.	Name of KMP	Designation
1	Lovely Ghanshyam Mutreja	Managing Director
3	Lalita Ghanshyam Mutreja	Chief Financial Officer
4	Ayushi Agrawal	Company Secretary and Compliance officer

? The Board of Directors at its meeting held on 09/08/2024, have approved the appointment and resignation of below Key Managerial Personnel:

S. No.	Name of Director	DIN/PAN	Cessation/Appointme nt	Effective Date	Designation
1.	Satya Nayak	AMIPN9822H	Cessation	19/07/2024	Chief Financial Officer
2.	Lalita Ghanshyam Mutreja	AQRPM8725 B	Appointment	09/08/2024	Chief Financial Officer

c) Declaration by Independent Director(s):

The company has received the necessary declaration from each Independent Directors in accordance with Section 149 (7) of the Companies Act 2013, that they meets the criteria of independence as laid out in sub-section (6) of Section 149 of the Companies Act 2013 and Regulation 16(1) (b) of the SEBI Listing Regulations.

All Independent Directors of the Company have affirmed compliance with the Schedule IV of the Act and Companys Code of Conduct for Directors and Senior Management.

All the Independent Directors of the Company have complied with the requirement of inclusion of their names in the data bank of Independent Directors maintained by Indian Institute of Corporate Affairs and they meet the requirements of proficiency self-assessment test.

d) Formal Annual Evaluation:

Pursuant to the provisions of the Companies Act, 2013 and the Listing Agreement/ SEBI (LODR) Regulations, 2015, the Board has carried out an annual performance evaluation of its own performance, the directors individually as well as the evaluation of the working of its Committees. The Directors expressed satisfaction with the evaluation process.

11. MEETINGS OF THE BOARD

During the year, 7 (Seven) Board Meetings were convened and held, the details of which are given below. The intervening gap between the two consecutive meetings was within the period prescribed under the Companies Act, 2013, Secretarial Standards and the SEBI (LODR) Regulations, 2015.

The Meetings that were held in the financial year 2024-2025:

S.No.	Meeting	Date
1.	Board Meeting	28/05/2024
2.	Board Meeting	18/07/2024
3.	Board Meeting	09/08/2024
4.	Board Meeting	28/08/2024
5.	Board Meeting	08/10/2024
6.	Board Meeting	13/11/2024
7.	Board Meeting	12/02/2025

12. MEETINGS OF THE INDEPENDENT DIRECTORS

During the Financial Year 2024-2025, 1 (One) Meetings of Independent Directors were held on

12/02/2025 without the attendance of Non-Independent Directors and members of the Management. The Independent directors in the meeting reviewed and assessed the following:

? The performance of Non-Independent Directors and the Board as a whole.

? The quality, quantity and timeliness of flow of information between the Company Management and the Board that is necessary for the Board to effectively and reasonably perform its duties.

13. MEETINGS OF THE COMMITTEES

There are currently three committees of the Board, as following:

a. Audit Committee

The Audit Committee of the Company reviews the reports to be submitted with the Board of Directors with respect of auditing and accounting matters. It also supervises the Companys financial reporting process.

During the Financial Year 2024-2025, 5 (Five) Meetings were held on 28/05/2024, 09/08/2024,

08/10/2024, 13/11/2024, 12/02/2025. The time gap between any two meetings was not more than 4 months and the Company has complied with all the requirements as mentioned under the Listing Agreement/SEBI (LODR) Regulations, 2015 and the Companies Act, 2013.

The composition of the Committee is as under:

S.No.	Name	Category	Designation
1.	Suvarna Ramchandra Shinde	Independent Director	Chairperson
2.	Kirit Ghanshyam Mutreja	Director	Member
3.	Maharshi Anand Tomar	Independent Director	Member

Reconstitution of Audit Committee from 09/08/2024:

S.No.	Name	Category	Designation
1	Suvarna Ramchandra Shinde	Independent Director	Chairperson
2	James Mody	Director	Member
3	Maharshi Anand Tomar	Independent Director	Member

b. Nomination and Remuneration Committee

The Committees constitution and terms of reference are in compliance with provisions of section 178 of the Companies Act, 2013, Regulation 19 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.

During the Financial Year 2024-2025, 1 (One) Meetings were held on 09/08/2024.

The composition of the Committee constituted as under:

S.No.	Name	Category	Designation
1.	Suvarna Ramchandra Shinde	Independent Director	Chairperson
2.	Kirit Ghanshyam Mutreja	Director	Member
3.	Maharshi Anand Tomar	Independent Director	Member

Reconstitution of Nomination and Remuneration Committee from 09/08/2024.

S.No.	Name	Category	Designation
1	Suvarna Ramchandra Shinde	Independent Director	Chairperson
2	James Mody	Director	Member
3	Maharshi Anand Tomar	Independent Director	Member

c. Stakeholders Relationship Committee

The terms of reference are in line with Section 178 of the Companies Act, 2013 and Regulation 20 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Committee reviews Shareholders/ Investor s complaints like non-receipt of Annual Report, physical transfer/ transmission/transposition of shares, split/ consolidation of share certificates, issue of duplicate share certificates etc. This Committee is also empowered to consider and resolve the grievance of other stakeholders of the Company including security holders.

During the Financial Year 2024-2025, 1 (One) Meeting was held on 12/02/2025.

The composition of the Committee constituted as under:

S.No.	Name	Category	Designation
1.	Suvarna Ramchandra Shinde	Independent Director	Chairperson
2.	Kirit Ghanshyam Mutreja	Director	Member
3.	Maharshi Anand Tomar	Independent Director	Member

Reconstitution of Stakeholders Relationship Committee from 09/08/2024:

S.No.	Name	Category	Designation
1	Suvarna Ramchandra Shinde	Independent Director	Chairperson
2	James Mody	Director	Member
3	Maharshi Anand Tomar	Independent Director	Member

d. Right Issue Committee

The Board of Directors of the Company, at its meeting held on Tuesday, 8th October, 2024 constituted a Rights Issue Committee and authorized its members to decide on the terms and conditions of the Issue, including but not limited to, the final Issue size/amount, rights entitlement ratio, the issue price, record date, timing of the Rights Issue, approval of draft letter of offer; appointment of intermediaries and legal counsel, if required; allotment of shares and other related matters. Further, the Rights Issue Committee was dissolved following the completion of the Rights Issue allotment on August 12, 2025.

During the Financial Year 2024-2025, 1 (One) Meeting was held on 26/11/2024.

The composition of the Committee constituted as under:

S.No.	Name	Category	Designation
1.	Kirit Ghanshyam Mutreja	Director	Chairperson
2.	Lovely Ghanshyam Mutreja	Managing Director	Member
3.	Suvarna Ramchandra Shinde	Independent Director	Member

14. REMUNERATION POLICY

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a policy for selection and appointment of Directors, Senior Management and their remuneration.

15. PARTICULARS OF EMPLOYEES

The provisions of Section 197 read with rule 5(2) & (3) of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 requiring particulars of the employees to be disclosed in the Report of Board of Directors are not applicable to the Company as none of the employees was in receipt of remuneration in excess of Rs.1.20 Crore per year during the financial year 2024-25. Details regarding rule 5(1) of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 are disclosed in the Annexure III attached herewith this report.

16. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(3) (c) & 134(5) of the Companies Act, 2013, the Board of Directors of the Company hereby confirms that:

(a) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(b) The directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period;

(c) The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) The directors have prepared the annual accounts on a going concern basis; and

(e) The directors have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

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

17. DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES

The company has no subsidiaries, joint ventures or associate companies. During the Financial Year, no company ceased as Subsidiary, Joint Venture or Associate of the company.

18. STATUTORY AUDITORS:

In accordance with the provisions of Section 139 of the Companies Act 2013, and the rules made thereunder, the Board on the recommendation of the Audit Committee, had appointed M/s. DMKH & Co. Firm Registration No.: 116886W, as the statutory auditors of the Company, for a term of five consecutive years, i.e., from the conclusion of the 42ndAnnual General Meeting of the Company (i.e held on 23rd September, 2022) till the conclusion of the 47th Annual General Meeting to be held in the year 2027 and the said appointment with the approval of shareholders .

As required under the provisions of Section 139(1) and 141 of the Companies Act, 2013 read with the Companies (Accounts and Auditors) Rules, 2014, the Company has received a written consent and certificate from the auditors to the effect that they are eligible to continue as Statutory Auditor of the Company.

19. AUDITORS REPORT

Explanation on Statutory Auditors comments:

The comments made in Auditors Report read with notes on accounts are self-explanatory and therefore, in the opinion of the Directors, do not call for any further explanation.

20. SECRETARIAL AUDIT

In terms of Section 204 of the Act and Rules made there under, M/s. Ravi Patidar and Associates, Practicing Company Secretaries have been appointed Secretarial Auditors of the Company. The Secretarial Audit Report forms part of Annual report as Annexure II.

21. INTERNAL FINANCIAL CONTROLS AND ADEQUACY

The Company has in place adequate internal financial controls with reference to the financial statement. The Internal Audit of the Company is regularly carried out to review the internal control systems and processes. The Audit Committee of the Board periodically reviews the internal control systems with the management, Internal Auditors and Statutory Auditors. Significant internal audit findings are discussed and follow-ups are taken thereon. Further, Mr. Vivek Bharat Variya was appointed as an Internal Auditor of the Company for the Financial Year 2025-26.

22. SHARES

Buy Back of Securities:

The Company has not bought back securities during the year under review.

Sweat Equity:

The Company has not issued any Sweat Equity Shares during the year under review.

Bonus Shares:

The Company has not issued any Bonus Shares were not issued during the year under review.

Employee Stock Option Plan:

The Company has not provided any Stock Option Scheme to the Employees.

23. VIGIL MECHANISM

The company has formulated a Whistle Blower Policy to provide Vigil Mechanism for employees of the company to report genuine concerns. The provisions of this policy are in line with the provisions of the Section 177 (9) of the Act and the Listing Regulations.

24. RISK MANAGEMENT POLICY

The Companys principal financial liabilities include trade and other payables. The Companys principal financial assets include cash and cash equivalents and others. The Company is exposed to liquidity risk and market risk. The Companys senior management oversees the management of these risks. The Companys senior management provides assurance that the Companys financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Companys policies and risk objectives. Risk management policy of the company has been placed on the Company website at www.apolloingredients.in presently; Regulation 21 of the SEBI LODR with respect to Risk Management Committee is not applicable to your Company.

25. CORPORATE GOVERNANCE

As stipulated vide regulation 15(2) of the SEBI (LODR) Regulations, 2015, the requirement of furnishing report on corporate governance is not applicable to your Company as its paid up capital and net-worth is below the threshold limit prescribed for the purpose.

26. DEPOSITS

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

27. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186

Full particulars of loans and guarantees given and investments made under Section 186 of the Companies Act, 2013 are given separately in the Financial Statements of the Company read with Notes to Accounts which may be read in conjunction with this Report.

28. RELATED PARTY TRANSACTIONS

All Related Party transactions that were entered into during the financial year under reference were on the arms length basis and were in ordinary course of business and in compliance with the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. There are no materially significant related party transactions between the Company and the Promoters, Directors, Key Managerial Personnel, Subsidiaries, relatives or other designated persons, which may have a potential conflict with the interest of the Company at large. Accordingly, particulars of contracts or arrangements with related parties referred to in Section 188(1) along with the justification for entering into such contract or arrangement in form AOC-2 as Annexure IV in terms of Section 134 of the Act read with Rule 8 of the Companies (Accounts) Rules, 2014 is applicable to the Company. Additionally, please refer Note 20 of Notes to accounts for related party transactions as per IND AS-24 and Schedule V of the SEBI (LODR) 2015 as amended from time to time.

All Related Party Transactions were placed before the Audit Committee and have been approved by the Board. Omnibus approval of Audit Committee is obtained for the transactions that are foreseen and repetitive in nature.

Your Company has formulated a policy on related party transactions, which is also available on Companys website www.apolloingredients.in

29. CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY

ABSORPTION AND FOREIGN EXCHANGE

a. Conservation of Energy, Technology Absorption

Company has limited scope for undertaking energy conservation exercises, but nevertheless continues to emphasize work practices that result in conservation of energy. At the offices of your Company, special emphasis is placed on installation of energy-efficient lighting devices, use of natural light as best as possible, and adoption of effective procedures for conservation of electricity, water, paper and other materials that consume natural resources.

b. Technology absorption

The activities of the Company do not as such involve any technology absorption or expenditure on research and development. Nevertheless, the Companys endeavours would be to achieve what is best possible in its business.

c. Foreign Exchange Earning and Outflow

During the year under review, there was no earning or outgoing in foreign exchange.

30. COST AUDIT

As per the Cost Audit Orders and in terms of the provisions of Section 148 and all other applicable provisions of the Companies Act, 2013, read with the Companies (Audit and Auditors) Rules, 2014, Cost Audit is not applicable to our Company.

31. CORPORATE SOCIAL RESPONSIBILITIES (CSR)

Pursuant to Section 135 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 financial year shall constitute a Corporate Social Responsibility (CSR) Committee of the Board. Your Company does not fall under the provisions of aforesaid Section; therefore, CSR Committee has not been constituted.

32. OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT

WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

Your Company has always believed in providing a safe and harassment free workplace for every individual working in Companys premises through various interventions and practices. The

Company always endeavours to create and provide an environment that is free from discrimination and harassment including sexual harassment.

During the year, pursuant to the legislation Prevention, Prohibition and Redressal of Sexual Harassment of Women at Workplace Act, 2013 introduced by the Government of India, which came into effect from 9 December 2013, the Company has framed a Policy on Prevention of Sexual Harassment at Workplace. There was no case reported during the year under review under the said Policy.

33. SECRETARIAL STANDARDS

The Company has in place proper systems to ensure compliance with the provisions of the applicable secretarial standards issued by The Institute of Company Secretaries of India and such systems are adequate and operating effectively.

34. DETAILS OF APPLICATION MADE OR PROCEDDING PENDING UNDER

INSOLVENCY AND BANKRUPTCY CODE, 2016

During the year under review, there were no applications made or proceedings pending in the name of the company under the Insolvency and Bankruptcy Code, 2016.

35. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR

COURTS OR TRIBUNALS

There are no significant and material orders passed by the Regulators / Courts / Tribunals which would impact the going concern status of the Company and its future operations.

36. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL

POSITION OF THE COMPANY

Material changes and commitments, affecting the financial position of the Company occurred between the end of the Financial Year of the Company i.e., 31st March, 2025 and the date of this Directors Report i.e., 2nd September, 2025 are as mentioned hereunder:

During the financial year under review, the Board of Directors at its meeting held on 8th October, 2024, approved the raising of funds through the issuance of fully paid-up equity shares on a Rights basis to the existing equity shareholders of the Company for an amount aggregating up to Rs. 5.00 crores (Rupees Five Crores only), in accordance with the applicable provisions of the Companies Act, 2013, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other applicable laws.

To facilitate and manage the Rights Issue, the Board constituted a Rights Issue Committee and delegated authority to determine the terms and conditions of the Issue, including the final issue size, rights entitlement ratio, issue price, record date, approval of offer documents, appointment of intermediaries, allotment of shares, and other related matters. The Rights Issue Committee, at its meeting held on 26th November, 2024, approved the Draft Letter of Offer ("DLOF"), subject to in-principle approval from BSE Limited.

The Company received in-principle approval from BSE Limited on 20th February, 2025. Subsequently, the Rights Issue Committee, in its meeting held on 4th July, 2025, fixed the record date as Monday, 7th July, 2025, for determining the eligible shareholders. On 7th July, 2025, the Committee approved the Letter of Offer, Abridged Letter of Offer, and other application forms. The Rights Issue opened on 16th July, 2025, and closed on 29th July, 2025.

Pursuant to the successful completion of the Rights Issue and upon receiving all necessary approvals and compliance with applicable requirements, the allotment of 1,00,00,000 (One Crore) equity shares of Rs. 5/- each was made on 12th August, 2025, to eligible shareholders who applied under the Rights Issue. As a result, the Companys paid-up share capital increased from Rs. 20,00,000/- (Rupees Twenty Lakhs only), divided into 4,00,000 equity shares of Rs. 5/- each, to Rs. 5,20,00,000/- (Rupees Five Crores Twenty Lakhs only), divided into 1,04,00,000 equity shares of Rs. 5/- each.

Post allotment, the Company filed the necessary listing and trading applications with BSE Limited, and received approval for listing and trading of the Rights Equity Shares. The successful completion of the Rights Issue has significantly strengthened the financial position and capital base of the Company

37. DETAILS IN RESPECT OF FRAUD REPORTED BY THE AUDITOR

No fraud by the Company and no material fraud on the Company has been noticed or reported during the year.

38. WEBSITE

As per Regulation 46 of SEBI (Listing, Obligation and Disclosure Requirements) Regulation, 2015, the Company has maintained a functional website namely www.apolloingredients.in containing basic information about the Company like: Details of business, financial information, shareholding pattern, compliance, contact information of the designated officials of the Company who are responsible for assisting and handling investor grievances for the benefit of all stakeholders of the Company. The contents of the said website are updated on regular basis.

39. ACKNOWLEDGEMENT

The Board of Directors would like to acknowledge all its stakeholders and is grateful for the support received from suppliers and business associates.

Your directors take this opportunity to place on record their appreciation and sincere gratitude to the Government of India, Government of Maharashtra and the Bankers to the Company for their valuable support and look forward to their continued co-operation in the years to come.

For and On Behalf of the Board of Directors
Apollo Ingredients Limited
(Formerly known as Indsoya Limited)
Sd/-	Sd/-
Lovely Ghanshyam Mutreja	Kirit Ghanshyam Mutreja
Managing Director	Director
DIN: 03307922	DIN: 07514391
Date: 2nd September, 2025
Place: Thane