Associated Coaters Ltd Directors Report

To,

THE MEMBERS

ASSOCIATED COATERS LIMITED

Ashuti Khanberia Maheshtala LP 20/83/46,

Vivekanandapur, South 24 Parganas,

Thakurpukur Mahestola, Kolkata 700141

Your Directors have the pleasure of presenting the Boards Report of ASSOCIATED COATERS LIMITED ("the Company”) along with the Annual Audited financial statement for the financial year ended 31st March, 2026 ("the period”).

Further, in compliance with the Companies Act, 2013, ("the Act”) and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations”), the Company has made requisite disclosures in this report with the objective of accountability and transparency in its operations to make you aware about its performance and future perspective of the Company.

FINANCIAL HIGHLIGHTS

Particulars	Year ended 31st March, 2026	Year ended 31st March, 2025
Turnover (Revenue - Export Incentive)	826.33	595.78
Profit/(Loss) before taxation	149.07	143.78
Less: Tax Expense	38.92	39.17
Profit/(Loss) after tax	114.52	106.17
Balance B/F from the previous year	173.54	72.90
Balance Profit /(Loss) C/F to the next year	288.06	173.54

STATE OF THE COMPANYS AFFAIRS

Associated Coaters Limited is proud to announce the expansion of its operations with the commencement of powder manufacturing for industrial applications. This strategic move complements our existing line of surface coating services and enables us to offer more integrated, high-performance solutions to our clients. By bringing powder production in-house, we enhance our quality control, reduce lead times, and offer customized formulations to meet the specific needs of industrial sectors.

KEY PERFORMANCE INDICATORS OF OUR COMPANY

Particulars	(INR)
Revenue From Operations	826.33
EBITDA	172.55
PAT	114.52
Net-worth	782.35

The highlights of the Companys performance are as under:

• Revenue from operations increased from INR 595.78 (in Lakhs) to INR 826.33 (in Lakhs) in the current year from previous year.

• Profit for the year has increased from INR 106.18 (in Lakhs) to INR 114.52 (in Lakhs) in the current year from previous year.

• Earnings per share have increased from INR 7.85 to INR 8.47 in<J:he current year from previous year.

All the Equity shares of the Company are in dematerialized form with either of the depositories viz. NSDL and CDSL. The ISIN No. allotted to the Equity shares of the Company is INE0RIQ01013.

FUTURE OUTLOOK

Associated Coaters Limited is poised for robust growth in the surface coatings industry, with a strong focus on expanding its footprint in architectural coatings?including high-performance finishes for fagades, windows, doors, and aluminum profiles. Leveraging coating technologies like PVDF, wood finish, and powder coatings, the company aims to serve the evolving aesthetic and* / wM needs of modern architecture. The Company has also commissioned a new plant dedicated to heavy metal coating applicatioB^^^^ is expected to enhance its overall production capacity by approximately one and a half times. This significant capacity expaB^W^ enable the Company to cater to increasing market demand more efficiently and strengthen its position in the surface coatings industry. Simultaneously, the company is actively exploring innovative coating solutions for industrial applications, targeting sectors such as automotive components, electrical enclosures, machinery, and infrastructure. This dual-track strategy, coupled with the enhanced manufacturing capabilities, positions Associated Coaters Limited as a comprehensive solutions provider committed to quality, customization, and sustainable surface finishing across industries, while placing the Company in a stronger position to capitalize on future growth opportunities.

CHANGE(S) IN THE NATURE OF BUSINESS, IF ANY

There has been no change in the nature business of the Company during the year under review.

DIVIDEND

The Board has not recommended any dividend for the period under review and the profit is ploughed back for the business.

TRANSFER TO RESERVES

During the period under review, the Board does not propose to transfer any amount to any reserves.

TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND The Company does not have any unclaimed dividend.

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

The Company does not have any Subsidiaries, Joint Ventures and Associate Companies as at the end of financial year 2025-26. DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)

As on March 31, 2026, the Board of Directors of your Company comprises of 5 (Five) Directors out of which 3 (Three) are NonExecutive including 2 (Two) Independent Directors and 2 (Two) are Executive Directors. The Chairperson is an Executive Director. The Board composition is in compliance with the requirements of the Act, the SEBI Listing Regulations and the circulars / directions / notifications issued by therein.

All appointments of Directors are made in accordance with the relevant provisions of the Act, the SEBI Listing Regulations, and other laws, rules, guidelines as may be applicable to the Company. The Nomination and Remuneration Committee (“NRC”) exercises due diligence inter-alia to ascertain the ‘fit and proper person status of person proposed to be appointed on the Board of Directors of the Company, and if deemed fit, recommends their candidature to the Board of Directors for consideration.

During the year under review, no changes took place in the composition of Board of Directors and Key Managerial Personnel except for the following:

Mrs. Navneet Kaur (DIN: 07980468), Non-Executive Director, who was liable to retire by rotation in accordance with Section 152(6) of the Companies Act, 2013, was re-appointed as a Director at the Annual General Meeting held on 19th September, 2025. The reappointment was approved by the shareholders through an ordinary resolution, in compliance with applicable provisions of the Companies Act, 2013, SEBI Listing Regulations, and the Articles of Association of the Company.

Mrs. Navneet Kaur (DIN: 07980468) was re-designated from Non-Executive Director to Whole-Time Director of the Company with effect from 01st April, 2026. The said re-designation was approved by the shareholders through Postal Ballot on 13th February, 2026. Further, she was also appointed as the Chairperson of the Company with effect from 01st April, 2026.

Mr. Harbhajan Singh Thethi (DIN: 10416459) was re-designated from Whole-Time Director to Non-Executive Director of the Company with effect from 01st April, 2026. The said re-designation was approved by the shareholders through Postal Ballot on 13th February, 2026.

DECLARATION BY INDEPENDENT DIRECTORS

All Independent Directors have given declarations that they meet the criteria of Independence as laid down under Section 149(6) of the Act and Regulations 16(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations”). The Independent Directors have also confirmed that they have complied with the Companys Code of Conduct.

BOARD COMMITTEES:

The Board of Directors, in compliance with the requirements of various laws applicable to the Company and for operational convenience, has constituted several committees to deal with specific matters and has delegated powers for different functional areas to different committees. The Board of Directors has constituted Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Internal Complaint Committee.

The details of the Board Committees of your Company are as follows:

Audit Committee (“AC”)

The Audit Committee and terms of reference of the Audit Committee are in compliance with the provisions of Section 177 and Regulation 18 of Companies Act, 2013 and SEBI (LODR), 2015 respectively. All members of the Audit Committee are financially literate and have accounting or related financial management expertise. The Audit Committee consists of the following members:

Name of Director	Designation	Category of Director
Mr. Jay Kumar Shaw	Chairperson	Independent Director
Mr. Jagjit Singh Dhillon	Member	Managing director & CFO
Ms. Chetna Gupta	Member	Independent Director

NOMINATION AND REMUNERATION COMMITTEE (“NRC")

The Nomination and Remuneration Committee and the terms of reference of the Nomination and Remuneration Committee are in compliance with the provisions of Section 178 of Companies Act, 2013.

The Nomination and Remuneration Committee consists of the following members:

Name of Director	Designation	Category of Director
Ms. Chetna Gupta	Chairperson	Independent Director
Mr. Harbhajan Singh Thethi	Member	Non-Executive Director*
Mrs. Navneet Kaur	Member	Whole-Time Director*
Mr. Jay Kumar Shaw	Member	Independent Director

Mr. Harbhajan Singh Thethi was inducted into the Committee upon his re-designation as a Non-Executive Director of the Company with effect from 01st April, 2026.*

Mrs. Navneet Kaur ceased to be a member of the Committee upon her re-designation as a Whole-time Director of the Company with effect from 01st April, 2026**.*

STAKEHOLDER RELATIONSHIP COMMITTEE (“SRC")

The terms of reference of the Stakeholders Relationship Committee are in compliance with the provisions of Section 178 of Companies Act, 2013. The Stakeholders Relationship Committee consists of the following members:

Name of Director	Designation	Category of Director
Ms. Chetna Gupta	Chairperson	Independent Director
Mrs. Navneet Kaur	Member	Whole-time Director*
Mr. Jay Kumar Shaw	Member	Independent Director

Mrs. Navneet Kaur has been re-designated as Whole-time Director of the Company with effect from 01st April, 2026.*

INTERNAL COMPLAINT COMMITTEE (“ICC")

The Internal Complaint Committee has been made under Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.The Internal Complaint Committee consists of the following members:

Name of Director	Designation	Category of Director
Mrs. Navneet Kaur	Presiding Officer	Whole-time Director*
Mr. Anupam Naskar	Member	NA
Mr. Biswanath Chatterjee	Member	NA
Mrs. Aditi Kohli	External Member	NA

Mrs. Navneet Kaur has been re-designated as Whole-time Director of the Company with effect from 01st April, 2026.*

MEETINGS OF THE BOARD OF DIRECTORS, AUDIT COMMITTEE (AC), NOMINATION AND REMUNERATION COMMITTEE (NRC), AND INTERNAL COMPLAINT COMMITTEE (ICC)

During the financial year 2025-2026, 5 (Five) Meetings of the Board of Directors of the Company, 4 (Four) meeting of the Audit Committee (AC) and 1 (one) meeting of the Nomination Remuneration Committee (NRC), 1 (one) meeting of the Stakeholder Relationship Committee, 1 (one) meeting of the Independent Directors (ID) of the Company, and 1 (one) meeting of Internal Complaint Committee (ICC) were held.

The details of Board Meetings are given below:

Serial Number	Date	Board Strength	No. of Directors Present
01/BM/2025-2026	26th May, 2025	5	5
02/BM/2025-2026	11th August, 2025	5	5
03/BM/2025-2026	14th November, 2025	5	5
04/BM/2025-2026	10th February, 2026	5	5
05/BM/2025-2026	31st March, 2026	5	5

The details of the Audit Committee Meeting are given below:

Serial Number	Date	Committee Strength	No. of Members Present
01/AC/2025-2026	26th May, 2025	3	3
02/AC/2025-2026	11th August, 2025	3	3
03/AC/2025-2026	14th November, 2025	3	3
04/AC/2025-2026	10th February, 2026	3	3

The details of the Nomination and Remuneration Committee Meeting are given below:

Serial Number	Date	Committee Strength	No. of Directors Present
01/ NRC/2025-2026	10th February, 2026	3	3

The details of the Stakeholder Relationship Committee Meeting are given below:

Serial Number	Date	Committee Strength	No. of Directors Present
01/SRC/2025-2026	31st March, 2026	3	3

The details of the Independent Directors Meeting are given below:

Serial Number	Date	Committee Strength	No. of Directors Present
01/ID/2025-2026	31st March, 2026	2	2

The details of the Internal Complaint Committee Meeting are given below:

Serial Number	Date	Committee Strength	No. of Directors Present
01/ ICC/2025-2026	31st March, 2026	4	4

The attendance of each Director at the Board Meetings is mentioned below:

Name of Member	Attendance during 2025-2026
Mr. Jagjit Singh Dhillon	5
Mr. Harbhajan Singhthethi	5
Ms. Chetna Gupta	5
Mr. Jay Kumar Shaw	5
Mrs. Navneet Kaur	5

The attendance of each Member at the Audit Committee Meetings is mentioned below:

Name of Member	Attendance during 2025-2026
Mr. Jagjit Singh Dhillon	4
Ms. Chetna Gupta	4
Mr. Jay Kumar Shaw	4

The attendance of each Member at the Nomination and Remuneration Committee Meetings is mentioned below:

Name of Member	Attendance during 2025-2026
Mrs. Navneet Kaur	1
Ms. Chetna Gupta	1
Mr. Jay Kumar Shaw	1

The attendance of each Member at the Stakeholder Relationship Committee Meetings is mentioned below:

Name of Member	Attendance during 2025-2026
Mr. Jagjit Singh Dhillon	1
Mrs. Navneet Kaur	1
Mr. Jay Kumar Shaw	1

The attendance of each Director at the Independent Directors Meetings is mentioned below:

Name of Member	Attendance during 2025-2026
Ms. Chetna Gupta	1
Mr. Jay Kumar Shaw	1

The attendance of each Member at the Internal Complaint Committee Meetings is mentioned below:

Name of Member	Attendance during 2025-2026
Mrs. Navneet Kaur	1
Mr. Anupam Naskar	1
Mr. Biswanath Chatterjee	1
Mrs. Aditi Kohli	1

DIRECTORS RESPONSIBILITY STATEMENT

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

• In the preparation of the annual accounts for the financial year ended 31st March 2026, the Company has followed the applicable accounting standards and there are no material departures from the same;

• 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 as at 31st March, 2026 and of the profit and loss of the Company for that period;

• The Directors have 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;

• The Directors have prepared the annual accounts on a ‘going concern basis;

• The Company has laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

• The Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

BOARD EVALUATION

The Board have undertaken an annual evaluation of the performance of entire Board and Committees, Individual peer review of all the Directors and Independent Directors of the Company as per Section 134(3)(p) of the Act read with rule 8(4) of the Companies (Accounts) Rules, 2014. The performance evaluation forms were circulated to the Board & Committee members and the responses on the same have been received.

The outcome of the performance evaluation of the Committees of the Board and the Board is presented to the Nomination and Remuneration Committee and the Board of Directors of the Company and key outcomes, and actionable areas are discussed and acted upon.

COMPLIANCE WITH APPLICABLE SECRETARIAL STANDARDS

During the period under review, the Company has followed the applicable Secretarial Standards, relating to the meeting of the Board of Directors (SS-1) and the General Meetings (SS-2), issued by the Institute of Company Secretaries of India (ICSI) and mandated as per the provisions of Section 118 (10) of the Act.

COMPANYS POLICY RELATING TO DIRECTORS APPOINTMENT, PAYMENT OF REMUNERATION AND DISCHARGE OF THEIR DUTIES

As per the provisions of Section 178(3) and Section 134 (3) (e) of the Act, on recommendation of the Nomination and Remuneration Committee (NRC), the Board has framed a Nomination and Remuneration Policy which lays down a framework in relation to

appointment and remuneration of Directors, Key Managerial Personnel and the other employees and their remuneration. The policy is directed towards a compensation philosophy and structure that will reward and retain talent and provides for a balance between fixed and incentive pay reflecting short and long-term performance objectives appropriate to the working of the Company and its goal^Jie Nomination and Remuneration Policy is available on the Companys website at www.associatedcoaters.in

CORPORATE SOCIAL RESPONSIBILITY

Provisions relating to Section 135 of the Companies Act, 2013 doesnt apply to the Company for the financial year ended 31st March, 2026.

MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION OF THE COMPANY

There are no material changes or commitments affecting the financial position of the Company between the end of the period to which this financial statement relates and the date of this Report.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS UNDER SECTION 186

No Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 has been given, provided or made during the year under review.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

The Company has adequate policies and procedures for the identification and monitoring of Related Party Transactions. All the transactions entered into with the Related Parties during the year under review were on an arms length basis and were in the ordinary course of business. The Company presented all Related Party Transactions before the Board for their approval specifying the nature, value, and terms and conditions of the transaction.

All the related party transactions are presented to the Audit Committee and Board for their approval. Disclosure in Form AOC-2 is enclosed herewith as “Annexure-D”. Your attention is drawn to the related party disclosure made in the note contained in the financial statements of the Company reporting, approval and disclosure processes are in place for all transactions between the Company and the Related Parties. The policy is available on the website of the Company at www.associatedcoaters.in.

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

The information pertaining to the Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo as required under Section 134 (3)(m) of the Act read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is enclosed herewith as “Annexure - A”.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Pursuant to Regulation 34 (2) (e) read with Para B of Schedule V of the SEBI Listing Regulations, the Management Discussion and Analysis Report forms part of this Report and is enclosed herewith as “Annexure - B”.

CAPITAL STRUCTURE

During the year under review, there was no change in the capital structure of the Company. The paid-up equity share capital of the Company remained unchanged throughout the financial year.

UNSECURED LOAN FROM DIRECTORS

During the year under review, the Company has not borrowed an unsecured loan from any of the Directors of the Company.

STATEMENT INDICATING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE COMPANY

The Company has in place a mechanism to identify, assess, monitor, and mitigate various risks to key business objectives that may threaten the existence of the Company. Major risks identified by the various functions are documented along with appropriate mitigating controls on a periodic basis.

CONSOLIDATED FINANCIAL STATEMENTS

The Company does not have any subsidiaries so there is no need to prepare consolidated financial statements for the year 2025-2026.

DETAILS OF SIGNIFICANT MATERIAL ORDERS PASSED BY THE REGULATORS /COURTS/TRIBUNAL IMPACTING THE GOING CONCERN STATUS & COMPANYS OPERATION IN FUTURE

During the period under review, the Company has not received any significant orders/ material orders passed by any of the Regulators/ Courts/ Tribunals impacting the Going Concern status of the Company and its operations in the future.

WHISTLE BLOWER / VIGIL MECHANISM POLICY

The Company is committed to maintaining an ethical workplace that facilitates the reporting of potential violations of the Companys policies and the applicable laws. To promote the highest ethical standards, the Company encourages its employees who have concern(s) about any actual or potential violation of the legal & regulatory requirements, incorrect or misrepresentation of any financial statements and reports, etc. any claim of theft or fraud, and any claim of retaliation for providing information to or otherwise assisting the Audit Committee, to come forward and express his/her concern(s) without fear of punishment or unfair treatment. Pursuant to the provisions of the Act and the Listing Regulations, the Company has established a robust Vigil Mechanism for Directors and Employees to report to the management instances of unethical behaviour, actual or suspected, fraud or violation of the Companys Code of Conduct. The Whistle Blower Policy/Vigil Mechanism provides that the Company investigates in such incidents, when reported, in an impartial manner and shall take appropriate action as and when required to do so. The Whistle Blower Policy/ Vigil Mechanism Policy of the Company is available on the website at www.associatedcoaters.in.

DEPOSITS

During the period under review, the Company has not acceptedTa0y deposits within the meaning of Sections 73 and 74 of the Act read with Companies (Acceptance of Deposit) Rules, 2014.

INVESTOR GRIEVANCE REDRESSAL POLICY

The Company has adopted an internal policy for Investor Grievance handling, reporting and redressal of the same. ANNUAL RETURN

The Annual Return of the Company as on March 31 2026, in the Form MGT-7 in accordance with Section 92(3) and 134(3)(n) as amended from time to time and the Companies (Management and Administration) Rules, 2014 shall be available on the the Company at www.associatedcoaters.in.

COST RECORDS

The provisions of Section 148 of the Act regarding the maintenance of Cost records are not applicable to your Company.

INTERNAL FINANCIAL CONTROL

The Company has an adequate system of Internal Financial Control commensurate with its size and scale of operations, procedures, and policies, ensuring the efficient and orderly conduct of its business, including adherence to the Companys policy, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of accounting records and timely preparation of reliable financial information. Based on the assessment carried out by the Management and the evaluation of the results of the assessment, the Board is of the opinion that the Company has an adequate Internal Financial Control System that is operating effectively during the period under review. There were no instances of fraud that necessitates reporting of material misstatements to the Companys operations.

REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL & SENIOR MANAGEMENT

The remuneration paid to the Directors, Key Managerial Personnel, and Senior Management is in accordance with the Nomination and Remuneration Policy formulated in accordance with Section 178 of the Act. Particulars of Employees as required under Section 197(12) of the Act and other disclosures as per Rule 5 of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 are annexed as "Annexure C”.

DISCLOSURE REGARDING THE ISSUE OF EMPLOYEE STOCK OPTIONS

The Company does not have any Employee Stock Option Scheme/ Plan during the year under review.

DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SECTION 143(12) OTHER THAN THOSE REPORTABLE TO THE CENTRAL GOVERNMENT

During the period under review, there have been no frauds reported by the Statutory Auditors of the Company under sub-section (12) of Section 143 of the Act.

STATUTORY AUDITORS AND THEIR REPORT

M/s. JMP Associates, Chartered Accountants, (FRN NO. 324235E) having their office at 5, Raja Subodh Mallick Square, 02nd Floor, Kolkata - 700013 have been appointed as the Statutory Auditor of the Company by the shareholders in the Annual General Meeting for the F.Y 2022-23 for a period of five years to hold the office till the conclusion of the Annual General Meeting for FY 2027-28.

The Report given by the Statutory Auditors on Standalone Financial Statements of the Company for the period under review forms part of the Annual Report. There are no observations (including any qualifications, reservations, adverse remarks, or disclaimers) of the Auditors in the Audit Report. Further, the notes to the accounts referred to in the Auditors Report are self-explanatory.

SECRETARIAL AUDITORS AND THEIR REPORT

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, M/s Mamta Binani & Associates, Practicing Company Secretaries are appointed as the Secretarial Auditor of your Company for the FY 2025-26. The Secretarial Audit Report issued by Mamta Binani & Associates, Practicing Company Secretaries for the FY ended 31st March, 2026 is attached as an “Annexure-E” to this Report.

The Secretarial Audit Report does not contain any qualification, reservation, adverse remark or disclaimer.

Moreover, the Audit Committee and Board of Directors at its meeting held on 11th August, 2025 has recommended the appointment of M/s Mamta Binani & Associates, Practicing Company Secretaries (firm registration no. P2016WB060900), as the Secretarial Auditor of the Company for the Financial Year 2025-26.

INTERNAL AUDITORS

Pursuant to Section 138 of the Companies Act, 2013 read with the relevant rules made thereunder, M/s. AHK &Co. (FRN. 326898E Peer Review Certificate No.: 018626) Chartered Accountants, were appointed as the Internal Auditors of the Company for the Financial Year 2025-26.

The Internal Audit is conducted periodically, and the reports submitted by the Internal Auditors are reviewed by the Audit Committee of the Company from time to time. The internal audit reports for the Financial Year ended 31st March, 2026 did not contain any adverse remark or qualification.

Further, the Audit Committee and the Board of Directors, at their meeting held on 11th August 2025, recommended and approved the appointment of M/s. AHK & Co., Chartered Accountants, as the Internal Auditors of the Company for the Financial Year 2025-26.

EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTISING COMPANY SECRETARY IN THEIR REPORTS

There are no qualifications, reservations or adverse remarks made by the Statutory Auditors in their Report.

CORPORATE GOVERNANCE

Since the Companys Equity shares are listed on the SME Platform of BSE Limited and therefore, the provisions of Corporate Governance Provisions under SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 are not applicable to the company.

PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prohibition of Insider Trading (the ‘Code) in accordance with the requirements SEBI (Prohibition of Insider Trading) Regulations, 2015, with a view to regulate trading in securities by the Board of Dire^y Employees of the Company, their immediate relatives and other insiders as defined in the Code. Also, during the period of clos^^f trading window, no Employee/ Designated Person is permitted to trade with or without pre-clearance in securities of restricted companies as informed by the Secretarial Department, from time to time. Timely disclosures are made to the Stock Exchanges by the Company. No Employee/ Designated Person is permitted to communicate, provide, or allow access to any Unpublished Price Sensitive Information relating to Company, its securities or any other company (listed or proposed to be listed), to any person except where such communication is in furtherance of legitimate purpose, Performance of duties or discharge of legal obligations. The Company periodically monitors and facilitates compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013

The Company is committed to provide conducive environment in which all individuals are treated with respect and dignity and promote a gender sensitive and safe work environment. Accordingly, the Board of Directors of the Company adopted a "Policy for Prevention of Sexual Harassment of Women at workplace” and also constituted an Internal Complaint Committee, in compliance with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013.

The Directors further state that during the year under review, there were no cases filed pursuant to the Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013. The policy adopted by the company for the prevention of sexual harassment is available on the Companys Website at www.associatedcoaters.in.

DETAILS AND STATUS OF ACQUISITION, MERGER AND MODERNIZATION AND DIVERSIFICATION DURING THE FINANCIAL YEAR 2025-26

No Acquisition, Merger, Modernization and Diversification have taken place in the Company.

REGISTRAR AND SHARE TRANSFER AGENT

During the year under review, Bigshare Services Private Limited was the Registrar and Transfer Agent of the Company.

NUMBER OF EMPLOYEES AS ON THE CLOSURE OF FINANCIAL YEAR The number of employees as on the closure of the financial year stood at:

Female: 0 Male: 17 Transgender: 0

STATEMENT THAT COMPANY HAS COMPLIED WITH MATERNITY BENEFIT ACT

The Company hereby confirms that it has duly complied with the provisions of the Maternity Benefit Act, 1961, during the financial year, and extended maternity benefits to eligible employees as per the Act."*

*There are no female employees in the Company.

OTHER STATUTORY DISCLOSURES

• The Standalone Financial Statements of the Company are placed on the Companys website at www.associatedcoaters.in.

• Details of top ten Employees in terms of the remuneration and Employees in receipt of remuneration as prescribed under rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, containing details prescribed under rule 5(3) of the said rules, which form part of the Boards Report, will be made available to any member on request, as per provisions of section 136(1) of the Act.

• The Company has not defaulted in repayment of loans from banks and financial institutions. There were no delays or defaults in payment of interest/principle of any of its debt securities.

• Neither any application was made, nor is any proceeding pending under the Insolvency and Bankruptcy Code, 2016 against the Company.

• During financial year 2025-26, there was no instance of one-time settlement with Banks or Financial Institutions. Therefore, as per rule 5(xii) of Companies (Accounts) Rules, 2014, reasons of difference in the valuation at the time of one-time settlement and valuation done while taking loan from the Banks or Financial Institutions are not reported.

ACKNOWLEDGEMENT

The Board places on record its gratitude to the government and regulatory authorities including the Bombay Stock Exchange and the correspondent banks for their support. The Board acknowledges the support of the shareholders and also places on record its sincere thanks to its valued client for its continued patronage. The Board also appreciates of all employees of the Company for their sincere work and commitment.