Astra Microwave Products Ltd Directors Report

Directors Report

Your Directors have pleasure in presenting the 35^th Annual Report of your Company together with the Audited Financial Statements including Consolidated Accounts for the financial year ended March 31,2026.

FINANCIAL RESULTS STANDALONE:

The Standalone performance for the Financial Year ended March 31,2026 is as under:

The Financial Summary		Rupees in Lakhs
Particulars	March 31, 2026 (IND AS)	March 31, 2025 (IND AS)
Total Revenue	1,15,566.75	1,04,423.39
Profit before finance cost, depreciation and tax expense	34,318.04	28,439.20
Finance cost	5,504.34	5,629.76
Profit before depreciation and tax expense	28,813.70	22,809.44
Depreciation	4,309.09	3,465.37
Profit before tax expense	24,504.61	19,344.07
Tax expense	6,720.88	5,005.53
Net Profit for the year	17,783.73	14,338.54
Other Comprehensive Income	47.03	(234.35)
Total Comprehensive Income	17,830.76	14,104.19
Retained earnings brought forward from earlier year	71,133.32	58,928.03
Retained earnings available for appropriation	88,964.08	73,032.22

CONSOLIDATED:

The Consolidated performance for the Financial Year ended March 31, 2026 is as under:

The Financial Summary		Rupees in Lakhs
Particulars	March 31, 2026 (IND AS)	March 31, 2025 (IND AS)
Revenue from operations	1,16,280.16	1,05,117.92
Profit before finance cost, depreciation, share of profit of associates, exceptional items and tax expense	35,224.29	28,655.27
Finance cost	5,555.54	5,712.61
Profit before depreciation, share of profit of associates, exceptional items and tax expense	29,668.75	22,942.66
Depreciation and amortisation	4,373.48	3,504.39
Profit before share of profit of associates, exceptional items and tax expenses	25,295.27	19,438.27
Share of profit of associates	780.38	935.30
Profit before exceptional items and tax expenses	26,075.65	20,373.57
Exceptional items	0	0
Profit before tax expense	26,075.65	20,373.57
Tax expense	6,778.57	5,022.69

 

		Rupees in Lakhs
Particulars	March 31, 2026 (IND AS)	March 31, 2025 (IND AS)
Profit after tax expense	19,297.08	15,350.88
Non-controlling interests	0	0
Profit after tax expense after non-controlling interests	19,297.08	15,350.88
Other comprehensive Income	86.43	(223.49)
Total Comprehensive Income	19,383.51	15,127.39
Add: Surplus at the beginning of the year	71,863.29	58,648.08
Less; Adjustment to the surplus at the beginning of the year (IND AS 115 and others)	0	0
Total available for appropriation	91,246.80	73775.47

For detailed analysis of the performance, please refer to managements discussion and analysis report.

State of the Companys Affairs:

During the period under review, the Company has achieved revenue of Rs. 11,55,66,75,000/- and net profit of Rs. 1,77,83,73,000/- on a standalone basis. During the same period, the Company has achieved revenue of Rs. 11,62,80,16,000/- and net profit of Rs. 1,92,97,08,000/- on a consolidated basis.

Material change and commitment

As you are aware, the Board of Directors of your Company at the meeting held on 10^th June, 2026, subject to necessary regulatory approvals, has approved a Scheme of Arrangement amongst your Company and Astra Space Technologies Private Limited and their respective shareholders and creditors (the Scheme) under Sections 230 to 232 read with other applicable provisions of the Companies Act, 2013 for demerger of the Space, Meteorology and Hydrology business of the Company into separate entity. The demerger aims to unlock shareholder value by separating the Defence and Space businesses into two independent entities. This will allow each business to focus on its own strategy, improve governance and transparency, and attract a wider investor base.

The highlights of performance of subsidiaries, associates and joint venture companies and their contribution to the overall performance of the company during the period under report. Rule 8(1) of section 134.

The Key performance highlights of subsidiaries, associates, and joint ventures are detailed in the Management Discussion and Analysis report.

Details of utilization of funds raised through public issues, rights issues, preferential issues, Qualified Institutions Placement etc:

The Company has raised funds through preferential issue as on 30^th June, 2025, by way of 20,13,885 Convertible Warrants of Rs. 2/- each convertible into, or exchangeable for, 1 (one)

fully paid-up equity share of the Company having face value of Rs. 2/- (Rupees Two Only) ("Equity Share(s)") each at a price of Rs. 864/- including the Warrant face value of Rs. 2/- each and premium of Rs. 862/- payable in cash, aggregating upto Rs. 1,73,99,96,640/- on a preferential basis.

As on the financial year ended March 31, 2026, the Company has received an aggregate amount of Rs. 43,49,99,160/- (Rupees Forty-Three Crores Forty-Nine Lakhs Ninety-Nine Thousand One Hundred and Sixty only), representing Rs. 216/- (Rupees Two Hundred and Sixteen only) per warrant, being 25% of the issue price per warrant as upfront payment, for the subscription of 20,13,885 (Twenty Lakh Thirteen Thousand Eight Hundred and Eighty-Five only) Convertible Warrants. The aforesaid amount of Rs. 43,49,99,160/- has been utilized for the purposes specified in the preferential offer document, in accordance with the applicable laws and regulations.

Share Capital

The paid-up share capital of the Company as on March 31, 2026 is Rs. 18,98,90,016/- divided into 9,49,45,008 equity shares of face value of Rs. 2/- per share.

Dividend

The Board of Directors of your Company recommend a final dividend @ 120 % on the paid up Equity Share Capital of the Company i.e., Rs. 2.40/- per equity share on face value of Rs.2/- each, for the financial year ended 31^st March, 2026.

Dividend Distribution Policy

In accordance with Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, your Company has adopted a Dividend Distribution Policy formulated by the Board specifying the financial parameters, factors and circumstances to be considered in determining the distribution of dividend to shareholders and/or retaining profits earned by the Company.

The web link of the Dividend Distribution Policy has been provided below for the perusal of the shareholders.

https://astramwp.com/dividend-distribution-policy/.

Transfer to Reserves

The Board of Directors has decided to retain the entire amount of profits for FY 2025-26 in the Retained Earnings.

Credit Rating

During the year under review, the CRISIL has re-affirmed the following existing rating for Long-Term, Short-Term Bank facilities and Corporate Credit Rating of the Company:

a) Long-Term bank facilities: Reaffirmed "CRISIL A/Positive"

b) Short-Term bank facilities: Reaffirmed "CRISIL A1"

c) Corporate Credit Rating: Reaffirmed "CRISIL A/Positive"

Listing of Equity Shares:

The Companys equity shares are presently listed on the following Stock Exchanges:

i) BSE Limited, Phiroze JeeJeebhoy Towers, Dalal Street, Mumbai-400 001; and

ii) National Stock Exchange of India Limited, Exchange Plaza, Floor 5, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051.

The Company has paid the Annual Listing Fees to the said Stock Exchanges for the financial year 2025-26.

Subsidiary Companies, Associates and Joint Ventures

As per Section 129 of the Companies Act, 2013, the consolidated financial statements of the Company and all its Subsidiaries and Associates prepared in accordance with the applicable accounting standards and forms part of this Annual Report, further a statement containing salient features of the financial statements of our subsidiaries and associates in the prescribed form in AOC-1 is annexed to this Boards Report as Annexure - 1.

Your Company does not have any material subsidiary as on 31^st March, 2026.

Astra Foundation

Astra Foundation was established under Section 8 of the Companies Act, 2013 as a Non-Profit Organisation on 9^th July, 2016, as a subsidiary of the company to grant donations to poor and needy for meeting expenditure of education, welfare, medical treatments and to establish, promote, set-up, run, maintain, assist, finance, support and/or aid in setting up and/or maintaining and /or running school for orphanages, poor houses for relief and help to the poor, old and infirm people and/or destitute.

During the year under review, Astra Foundation was converted into Astra Private Limited on March 12, 2025, and subsequently struck off on September 16, 2025 from the register of Companies.

Bhavyabhanu Electronics Private Limited was renamed as Astra Defence Technologies Private Limited on 18^th November, 2025, following a change in the Companys Main Objects.

Consolidated Financial Statements

The Consolidated financial statements of the Company have been prepared in accordance with the Indian Accounting Standards (Ind AS) as per the Companies (Indian Accounting Standards) Rules, 2015 notified under Section 133 of the Companies Act, 2013 and other relevant provisions of the Companies Act, 2013.

In accordance with the provisions of Section 136 of the Companies Act, 2013, the audited financial statements of the Company including consolidated financial statements and related information of the Company and audited accounts of the subsidiaries, are available on the website of the company and a copy of separate Audited financial statements of its subsidiaries will be provided to shareholders upon their request.

Number of Meetings of the Board of Directors

Seven (7) meetings of the Board of Directors were held during the financial year 2025-26. The details of the meetings are given in the Corporate Governance Report, which forms part of this Annual Report.

Management Discussion and Analysis

The Management Discussion and Analysis forms an integral part of this Report and provides details about the overall industry structure, developments, performance and state of affairs of the Company and other material developments during the financial year.

Directors Responsibility Statement

Pursuant to the requirement under Section 134 (3) (c) and 134 (5) of the Companies Act, 2013, with respect to the Directors Responsibility Statement, the Board of Directors of the Company hereby confirm that:

i) In the preparation of the Annual Accounts, the applicable accounting standards have been followed and there are no material departures;

ii) 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 March 31, 2026 and of Profit and Loss Account of the Company for that period;

iii) 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;

iv) the Directors have prepared the Annual Accounts for the financial year ended March 31, 2026 on a going concern basis;

v) 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; and

vi) 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.

Nomination and Remuneration Committee

The Nomination and Remuneration Committee during the Financial year ended March 31, 2026 consists of the following Directors namely Mr. Venu Raman Kumar, Chairman, Dr. Avinash Chander and Mr. P. A. Chitrakar as Members.

Brief description of terms of reference: please refer to the Corporate Governance Report which forms part of this Annual Report.

Nomination and Remuneration Policy

The objectives of the Policy

1) To lay down criteria and terms and conditions with regard to identifying persons who are qualified to become Directors (Executive and Non-Executive) and persons who may be appointed in Senior Management and Key Managerial positions and to determine their remuneration.

2) To determine remuneration based on the Companys size and financial position and trends and practices on remuneration prevailing in peer companies.

3) To carry out evaluation of the performance of Directors.

4) To retain, motivate and promote talent and to ensure long term sustainability of talented managerial persons and create competitive advantage.

The details of the meetings of the Nomination and Remuneration Committee convened during the financial year 2025-26 are given in the Corporate Governance Report which forms part of this Annual Report.

Particulars of Loans, Guarantees or Securities or Investments under Section 186

The particulars of loans, guarantees and investments under Section 186 of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014, for the financial year 2025-26 are given in Note 4 and 34 of the Notes to the financial statements.

Related Party Transactions

All related party transactions entered into during FY 2025-26 were on an arms length basis and in the ordinary course of business. No material related party transactions were entered into during the financial year by the Company.

All transactions with related parties were reviewed and approved by the Audit Committee. Prior omnibus approval is obtained for related party transactions which are of repetitive nature and entered in the ordinary course of business and on an arms length basis.

The particulars of contracts or arrangements with related parties referred to in sub-section (1) of Section 188 entered by the Company during the financial year ended March 31, 2026 in prescribed Form AOC-2 is annexed to this Boards Report as Annexure - 2.

The web link of the related party transactions policy has been provided below for the perusal of the shareholders. https:// astramwp.com/policies-1/

Corporate Social Responsibility (CSR)

Pursuant to Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, your company has approved Policy on CSR.

The web link of the Corporate Social Responsibility policy has been provided below for the perusal of the shareholders. https://astramwp.com/policies-1/

The Board of Directors of the Company have constituted a Corporate Social Responsibility Committee consisting of following Directors namely Mrs. Anuradha Mookerjee, Chairperson, Dr. M. V. Reddy and Mr. Venu Raman Kumar as Members.

A report on Corporate Social Responsibility as per Rule 8 of Companies (Corporate Social Responsibility Policy) Rules, 2014 is annexed to this Boards Report as Annexure- 3.

During the Financial year, Corporate Social Responsibility Committee meeting was held on August 13, 2025.

Attendance at the Corporate Social Responsibility Committee Meetings:

Name of the Director	Category	Number of Meetings
		Held	Attended
Mrs. Anuradha Mookerjee	Chairperson	1	1
Dr. M. V. Reddy	Member	1	1
Mr. Venu Raman Kumar	Member	1	1

Mechanism for Evaluation of Board

Pursuant to the provisions of the Companies Act, 2013 and SEBI Listing Regulations, 2015 the performance evaluation of the Board, the Committees of the Board and Individual Directors is done on annual basis.

Evaluation of all Board members is done on an annual basis. The Individual Directors responses to the questionnaire on the performance of the Board, committee(s), Directors and Chairman, were analysed by an in-house questionnaire, to arrive at unbiased conclusions.

Directors and Key Managerial Personnel Directors:

During the year under review:

a. Mr. Venu Raman Kumar was appointed as an Additional Director, Non-Executive (Independent Director) of the Company w.e.f 22^nd May, 2025 and was subsequently appointed as a Non-Executive Independent Director by the members of the Company by passing Special Resolution dated 12^th August, 2025 through Postal Ballot.

b. Mrs. Anuradha Mookerjee was appointed as a NonExecutive and Additional Director (Independent Director) of the Company w.e.f 22^nd May, 2025 and was subsequently appointed as a Non-Executive Independent Director by the members of the Company by passing Special Resolution dated 12^th August, 2025 through Postal Ballot.

c. Mr. S. Varadarajan has resigned from the Board of Directors of the Company on 22^nd May, 2025 due to his Preoccupation.

d. Mrs. Kiran Dhingra (Retd. IAS) has retired as an Independent Director on 26^th June, 2025.

The Board of Directors, at its meeting held on 10^th August 2026, took note of the decision of Mr. S. Gurunatha Reddy, Managing Director, not to seek continuation as the Managing Director and Director of the Company. Accordingly, he shall cease to hold the office of Managing Director and Director with effect from the close of business hours on 30^th September 2026.

The Board places on record its sincere appreciation for the invaluable guidance, leadership and significant contributions made by Mr. S. Gurunatha Reddy, Managing Director during his tenure and wishes him the very best in his future endeavours.

Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors, at its meeting held on 10^th August 2026, approved the re-designation of Dr.M.V.Reddy, presently Joint Managing Director, as the Managing Director of the Company with effect from 01^st October 2026, subject to the approval of the Members of the Company and such other approvals, if any, as may be required under the Companies Act, 2013, the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable laws.

As per the provisions of the Companies Act, 2013 read with Companies (Qualifications and Appointment of Directors) Rules, 2014, Mr. Atim Kabra, Director (DIN:00003366) and Mr.Prakash Anand Chitrakar (DIN: 00003213), retires by rotation at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment. The Board recommends their re-appointment.

The Companys Independent Directors have given requisite declarations confirming that they continue to meet the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 and Regulations 16(1)(b) of the Listing Regulations. The Independent Directors have also confirmed that they have complied with Schedule IV of the Act and the Companys Code of Conduct. The Independent Directors of the company have registered themselves with the Indian Institute of Corporate Affairs (IICA) towards the inclusion of their names in the data bank maintained with it and they meet the requirements of proficiency self-assessment test.

In the opinion of the Board, the Independent Directors fulfil the conditions of independence, are independent of the management, possess the requisite integrity, experience, expertise, proficiency and qualifications to the satisfaction of the Board of Directors. The details of remuneration paid to the members of the Board and its Committees are provided in the Report on Corporate Governance.

The Company keeps on update directors about the companys performance, their roles and responsibilities, an overview of the industry, the Companys business model, the risks and opportunities through various presentations at the meeting of the board of directors of the Company towards familiarisation program.

Key Managerial Personnel

Pursuant to the provisions of Section 2(51) and 203 of the Act, the Key Managerial Personnel of the company are Mr. S. Gurunatha Reddy, Managing Director, Dr. M. V. Reddy, Joint Managing Director, Mr. Atim Kabra, Director (Strategy and Business Development), Mr. T. Anjaneyulu, G.M- Company Secretary and Mr. Srinivasarao Devathi, CFO.

Mr. Rahul Rungta was appointed as the Chief Financial Officer of the Company effective 10^th April, 2025, and subsequently transferred to the Companys wholly-owned subsidiary, Astra Space Technologies Private Limited, with effect from 12^th February 2026.

Mr. Srinivasarao Devathi was appointed as a CFO of the Company with effect from 12^th February, 2026.

Directors and Officers Insurance (D&O)

As per the requirements of Regulation 25(10) of the SEBI Listing Regulations, the Company has taken Directors and Officers Insurance (D&O) for all its Directors and Key Managerial Personnel of the Company.

COMMITTEES OF THE BOARD

The Board of Directors has the following Committees as on March 31, 2026:

a) Audit Committee

b) Nomination and Remuneration Committee

c) Stakeholders Relationship Committee

d) Corporate Social Responsibility Committee

e) Risk Management Committee

The details of the Committees of the Board along with their composition, number of meetings and attendance at the meetings are provided in the Corporate Governance Report forming part of the Annual Report for the FY2025-26.

Deposits

The Company has not accepted any deposits from the public in terms of Chapter V of the Companies Act, 2013. Hence, no amount on account of principal or interest on public deposits was outstanding as on the date of the balance sheet.

AUDITORS

Statutory Auditors and their Report

At the 31^st AGM held on 22^nd August 2022, M/s. Price Waterhouse Chartered Accountants LLP, Chartered Accountants (FRN 012754N/ N500016) were appointed as Statutory Auditors of the Company for a second term of five (5) consecutive years upto the 36^th AGM by the Members.

The Auditors Report on the financial statements of the Company for the financial year ended March 31, 2026 is unmodified i.e.,

it does not contain any qualification, reservation or adverse remark. The Auditors Report is enclosed with the financial statements forming part of the annual report.

Internal Auditors

The Board of Directors of the Company have appointed M/s. Kirtane & Pandit LLP, Chartered Accountants as Internal Auditors to conduct Internal Audit of the Company for the financial year ended March 31,2026.

Cost Auditors

The provisions of Section 148 of the Companies Act, 2013 for maintaining the Cost Records are applicable to the Company.

Accordingly, the Company is maintaining the Cost Records as specified by the Central Government under the Rules made there under Section 148 of the Companies Act.

Pursuant to the provisions of Section 148(3) of the Act, the Board of Directors had appointed M/s. Dendukuri & Co, Cost and Management Accountants, (FRN: 102199) as Cost Auditors of the Company, for conducting the audit of cost records for the financial year ended March 31, 2026. The audit is in progress and report will be filed with the Ministry of Corporate Affairs within the prescribed period. A proposal for ratification of remuneration of the Cost Auditors is placed before the shareholders.

Secretarial Auditors and their Report

At the 34^th AGM held on 17^th September 2025, M/s. L.D. Reddy & Co., Practicing Company Secretaries were appointed as Secretarial Auditor of the Company for a period of five (5) consecutive years upto the 39^th AGM by the Members.

The Secretarial Auditors Report is annexed to this Boards Report as Annexure- 4A.

Annual Secretarial Compliance Report

The Company has undertaken an audit for the financial year 2025-26 for all applicable compliances as per Securities and Exchange Board of India Regulations and Circulars/ Guidelines issued thereunder. The Annual Secretarial Compliance Report issued by Mr. L. Dhanamjay Reddy, Practising Company Secretary, Hyderabad has been submitted to the Stock Exchanges within the specified time and same is annexed herewith as Annexure - 4B.

Boards response on Auditors qualification, reservation or adverse remark or disclaimer made

There are no qualifications, reservations or adverse remarks made by the statutory auditors in their report or by the Practicing Company Secretary in the Secretarial Audit Report for the financial year.

During the year, there were no instances of frauds reported by auditors under Section 143(12) of the Companies Act, 2013.

Investor Education and Protection Fund (IEPF)

Pursuant to the provisions of Section 124 of the Companies Act, 2013 and other applicable provisions of the Companies Act, 2013 and rules made thereunder, unclaimed dividend amount of Rs. 17,76,295/- (Rupees Seventeen lakh seventy-six thousand two hundred ninety-five only) of the Company for the Financial Year ended March 31, 2018 has been transferred to the Investor Education and Protection Fund (IEPF) established by the Central Government pursuant to Section 125 of the Companies Act, 2013.

During the year 20,574 equity shares were transferred to IEPF.

The Company has transferred an amount of Rs.8,90,475/- (Rupees Eight lakh ninety thousand four hundred seventy-five only) towards dividend to IEPF on the shares which were already transferred to IEPF.

Audit Committee

The Audit Committee during the Financial year ended March 31, 2026 consists of the following Directors namely Mrs. Anuradha Mookerjee, Chairperson, Dr. Avinash Chander, Mr. Suresh Kumar Somani as members of the Committee.

All members of the Audit Committee are financially literate and have experience in financial management.

All the recommendations made by the Audit Committee were accepted by the Board of Directors of the Company.

The terms and reference of Audit Committee and details of the meetings of the Audit committee held during the financial year 2025-26 and the attendance of members are provided in the Corporate Governance Report, which forms part of this Annual Report.

Corporate Governance

The Corporate Governance Report regarding compliance of the conditions of corporate governance by your Company as stipulated in Regulation 34 (3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed as part of this Report along with the Certificate on its compliance.

Vigil Mechanism/Whistle Blower Policy

The Company established a whistle blower policy in order to assure that the business is conducted with integrity and that the Companys financial information is accurate.

Prevention of Insider Trading

As per SEBI (Prohibition of Insider Trading) Regulation, 2015, the Company has adopted a Code of Conduct for Prevention of Insider Trading. The Company has appointed Mr. T. Anjaneyulu, G.M - Company Secretary as Compliance Officer, who is responsible for setting forth procedures and implementation of the code for trading in Companys securities.

During the year under review, there has been due compliance with the said code of conduct for prevention of insider trading.

Statement of particulars of appointment and remuneration of managerial personnel

The Statement of particulars of Appointment and Remuneration of Managerial Personnel as per Rule 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed to this Boards Report as Annexure- 5.

Insurance

All properties and insurable interests of the Company have been fully insured.

Internal Financial Controls

The company has in place adequate internal financial controls with reference to financial statements. The Company maintains all its records in SAP System and the work flow and approvals are routed through SAP.

Names of Companies, which have become or ceased to be Companys Subsidiaries, Joint Ventures or Associate Companies during the year

During the year under review, Astra Private Limited ceased to be a Subsidiary of the Company.

Change in the nature of business

There has been no change in the nature of business of the Company.

Significant and material orders passed by the regulators or courts or tribunals

There have been no significant material orders passed by the Regulators or Courts or Tribunals which would impact the going concern status of the company and its future operations.

During the year under review, no application was made or any proceedings pending against the Company under the Insolvency and Bankruptcy Code, 2016.

Human Resources

The Industrial relations of the Company continued to be cordial and harmonious during the year under review.

Environment, Health and Safety

The Company is committed to health and safety of its employees, contractors and visitors. We are compliant with all EHS Regulations stipulated under the Water (Prevention and Control of Pollution) Act, The Air (Prevention and Control of Pollution) Act, The Environment Protection Act and the Factories Act and Rules made thereunder.

Prevention of Sexual Harassment

The Company has adopted policy on Prevention of Sexual Harassment of Women at Workplace in accordance with the

Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

The Company has not received any complaints during the year. The Company regularly conducts awareness programs for its employees.

The following is a summary of sexual harassment complaints received and disposed of during the year:

S. No. Particulars	Status of the No. of complaints received and disposed of
1. Number of complaints filed during the financial year.	Nil
2. Number of Complaints disposed of during the financial year	Not Applicable
3. Number of complaints pending as on end of the financial year	Not Applicable
4. Number of workshops or awareness programs against sexual harassment carried out	The Company regularly conducts necessary awareness programmes for its employees
5. Nature of action taken by the employer or district officer	Not Applicable

Constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

The Company has constituted an Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The Company has not received any complaints during the year.

Maternity Benefit Act:

The Company is in compliance with the provisions of Maternity Benefit Act, 1961 and no compliant has been received by the Company from any of the employee in this regard during the year under review.

Compliance with Secretarial standards

The company has complied with Secretarial Standards issued by the Institute of Company Secretaries of India.

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

In accordance with the requirements of Section 134 of the Companies Act, 2013, statement showing the particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo is annexed to this Boards Report as Annexure - 6.

Annual Return

Annual Return in Form MGT-7 is available on the Companys website, the web link for the same is https://astramwp.com/ annual-return/

Risk Management

The Risk Management Committee consists of the following Directors during the financial year 31^st March, 2026:

Mr. S. Gurunatha Reddy, Chairman, Dr. Avinash Chander, Dr. M.V. Reddy as members of the Committee.

The Committee had formulated a Risk Management Policy for dealing with different kinds of risks which it faces in day- to-day operations of the Company. Risk Management Policy of the Company outlines different kinds of risks and risk mitigating measures to be adopted by the Board. The Company has adequate internal control systems and procedures to combat risks.

In the opinion of the Board, there are no major elements of risk which has the potential of threatening the existence of the Company.

Business Responsibility and Sustainability Report

The Business Responsibility and Sustainability Report (BRSR) of your Company for the year ended March 31, 2026 forms part of this Annual Report as required under Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as Annexure- 7 is available on the Companys website, the web link for the same is https://astramwp.com/ annual-return/

In addition to BRSR, the Annual Report of your Company provides an insight on Annual Report 2025-26 ESG initiatives adopted by your Company. The ESG disclosures have been independently assured by Intertek India Private Limited.

Appreciation

The Board of Directors place on record sincere gratitude and appreciation for all the employees of the Company. Our consistent growth has been possible by their hard work, solidarity, co-operation and dedication during the year.

The Board conveys its appreciation for its customers, shareholders, suppliers, bankers, regulatory and government authorities for their continued support.

	For and on behalf of the Board of Directors
	S. Gurunatha Reddy	Dr. M.V. Reddy
Place: Hyderabad	Managing Director	Joint Managing Director
Date: 10.08.2026	DIN: 00003828	DIN: 00421401