Atal Realtech Ltd Directors Report

To,

The Members,

Your Directors have pleasure in presenting their Thirteenth Annual Report on the Business and Operations of Atal Realtech Limited ("the Company") and the Accounts for the Financial Year ended March 31, 2025 (period under review).

1. FINANCIAL PERFORMANCE OF THE COMPANY:

The summary of standalone financial highlights for the financial year ended March 31, 2025 and previous financial year ended March 31, 2024 is given below:

Standalone Financial Performance (Rs. In 000)

Particulars	31-March- 2025	31-March- 2024
Total Income	9,59,191	4,09,560
Less: Expenditure	(903881)	(3,73,514)
Profit before Depreciation and Exceptional	55,310	36,046
items
Less: Depreciation	(7974)	(4,474)
Profit before Exceptional items and Tax	47,336	31,571
Less: Exceptional items	0	0
Profit before Tax	47,336	31,571
Provision for Taxation	(11,906)	(10,125)
Profit after Tax	35,430	21,446
Earnings Per Share (Face Value of 2 for
Current year and 10 for Previous year)
Basic	0.33	0.29
Diluted	0.33	0.29

2. FINANCIAL PERFORMANCE: STANDALONE:

The Total Income of the Company stood at Rs. 9,59,191/- Thousand for the year ended March 31, 2025 as against Rs. 4,09,560/- Thousand in the previous year. The Company made a Net Profit of Rs. 35,430/- Thousand for the year ended March 31, 2025 as compared to the Net Profit of Rs. 21,446/- Thousand in the previous year.

3. DIVIDEND:

The Company is not required to formulate a Dividend Distribution Policy, as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and to conserve resources, the Directors do not recommend any dividend for the year ended March 31, 2025.

4. STATE OF AFFAIRS OF THE COMPANY:

Information on the operations and financial performance, among others for the period under review, is given in the Management Discussion and Analysis Report which is annexed to this which is annexed to this Report and is in accordance with the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

5. TRANSFER TO RESERVES

During the Financial Year 2024-25, the entire amount of profit of Rs. 35,430 /- Thousand was transferred from Profit & Loss A/c to General Reserves of the Company.

6. Change In Name

The company has not changed its name during financial year 2024-25.

7. CHANGES IN SHARE CAPITAL

The total Share capital of the company has been increased from 14,80,20,000/- (Rupees Fourteen Crore Eighty Lakhs Twenty Thousand Only) divided into 7,40,10,000 (Seven Crore Forty Lakhs Ten Thousand only) equity shares of 2/- (Rupees Two only) to 22,20,30,000/- (Rupees Twenty Two Crore Twenty Lakhs Thirty Thousand only) divided into 11,10,15,000 (Eleven Crore Ten Lakhs Fifteen Thousand) equity shares of 2/- (Rupees Two only) under rights issue of Equity Shares to eligible existing equity shareholders.

The Authorized Share Capital of the Company as on 31^st March, 2025 was 23,00,00,000/- (Rupees Twenty Three Crores only) divided into 11,50,00,000 (Eleven Crore Fifty lakhs) Equity Shares of 2/- (Rupees Two only) each. However, at present the Authorized Share capital has been increased to 28,00,00,000/- (Rupees Twenty Eight Crore only) divided into 14,00,00,000 (Fourteen Crore) Equity Shares of 2/- (Rupees Two only) each.

The Paid-up Share Capital of the Company is 22,20,30,000/- (Rupees Twenty-Two Crore Twenty Lakhs Thirty Thousand only) divided into 11,10,15,000 (Eleven Crore Ten Lakhs Fifteen Thousand) equity shares of 2/- (Rupees Two only).

8. CHANGES IN NATURE OF BUSNIESS:

During the year under review, there was no change in the nature of Business of the company

9. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

During the financial year 2024-25, there have been no material changes and commitments except as specifically disclosed by the Company, which affects the financial position of the Company which have occurred between the end of the financial year to which the Financial Statements relate and the date of this Report. However, a wholly owned subsidiary was incorporated "Atal Realty Limited" on 2^nd June, 2025, after the Financial year 2024-2025.

10. DIRECTORS AND KEY MANAGERIAL PERSONNEL:

The current Management of the Company is as follows:

Sr. No. Name	DIN/PAN	Designation
1. Mr. Vijaygopal Parasram Atal	00126667	Managing Director
2. Mr. Amit Sureshchandra Atal	03598620	Executive Director
3. Mr. Kuntal Manoj Badiyani	07646960	Independent Director
4. Ms. Sharanya Shashikanth Shetty	08572805	Independent Director
5. Mr. Akshay Dhongade	10045501	Independent Director
6. Ms. Tanvi Atal	10051249	Non-Executive Director
7. Mr. Alok Singh	BMQPS9514N	Company Secretary and Compliance Officer
8. Mr. Uday Laxman Satve	ATOPS3589F	Chief Financial Officer

CHANGE IN COMPOSITION OF BOARD

During the year under review, there was no change in the composition of the Board of Directors of the Company and till the date of Board?s Report.

11. DECLARATION BY INDEPENDENT DIRECTORS:

Pursuant to Section 149 and other applicable provisions of the Act, the Company has received declarations from the Independent Directors of the Company confirming that they continue to meet the criteria of independence as prescribed under Section 149(6) of the Act and Regulation 16(1)(b) of the SEBI Listing Regulations. The Independent Directors have also confirmed that they have complied with the Company?s code of conduct.

The Board is of the opinion that the Independent Directors of the Company have fulfilled the conditions as specified in SEBI Listing Regulations, are independent of the management, possess requisite qualifications, experience, proficiency and expertise and they hold highest standards of integrity.

12. MEETINGS OF BOARD OF DIRECTORS:

During the year, Eleven Board Meetings were convened and duly held. The notice of Board meeting is given well in advance to all the Directors. The maximum interval between any two meetings did not exceed 120 days. Details of the Board meetings and attendance at such meetings are given in the Corporate Governance Report annexed herewith for the financial year ended March 31, 2025, which forms part of this report.

13. COMMITTEES OF THE BOARD:

The Committees of the Board focus on certain specific areas and make informed decisions in line with the delegated authority. The details of various committees constituted by the Board, including the committees mandated (i.e., Nomination and Remuneration Committee/ Audit Committee/ Stakeholder Relationship Committee etc.) pursuant to the applicable provisions of the Act and SEBI Listing Regulations, are given in the Corporate Governance Report, which forms part of this Integrated Annual Report.

14. BOARD EVALUATION:

Your Board has devised an Evaluation Policy for evaluating the performance of the Board, its Committees, Executive Directors, and Independent Directors. Based on the same, the performance was evaluated for the financial year ended March 31, 2025. As part of the evaluation process, the performance of Non- Independent Directors, the Chairman and the Board was conducted by the Independent Directors. The performance evaluation of the respective Committees and that of Independent and Non-Independent Directors was done by the Board excluding the Director being evaluated.

The policy inter alia provides the criteria for performance evaluation such as Board effectiveness, quality of discussion, contribution at the meetings, business acumen, strategic thinking, time commitment, and relationship with the stakeholders, corporate governance practices, contribution of the committees to the Board in discharging its functions etc.

The Board carried out formal annual evaluation of its own performance and that of its committees viz., the Audit Committee, Stakeholders? Relationship Committee, Nomination and Remuneration Committee (NRC). The Board also carried out the performance evaluation of all the individual directors including the Chairman of the Company. Additionally, NRC also carried out the evaluation of the performance of all the individual directors and Chairman of the Company. The performance evaluation was carried out by way of obtaining feedback from the Directors through a structured questionnaire prepared in accordance with the policy adopted by the Board and after taking into consideration the Guidance Note on Board Evaluation issued by Securities and Exchange Board of India.

The feedback received from the Directors through the above questionnaire was reviewed by the Chairman of the Board and the Chairman of the NRC and then discussed the same at the meetings of the Board and NRC respectively. The performance evaluation of the Chairman, Whole Time Director and the Board as a whole was carried out by the Independent Directors at their separate meeting.

15. EXTRACT OF ANNUAL RETURN:

As required pursuant to section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies (Management and Administration) Rules, 2014, an extract of Annual Return in MGT-9 will be available on website of company www.atalrealtech.com.

16. REMUNERATION POLICY:

The Company has framed a Nomination and Remuneration Policy pursuant to Section 178 of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015. The Policy is provided and available on website of company www.atalrealtech.com.

17. DETAILS OF REMUNERATION TO DIRECTORS:

The remuneration paid to the Directors is in accordance with the recommendations of

Nomination and Remuneration Committee formulated in accordance with Section 178 of the Companies Act, 2013and any other re-enactment(s) for the time being in force. The information relating to remuneration of Directors and details of the ratio of the remuneration of each Director to the median employee?s remuneration and other details as required pursuant to section

197(12) of the Act read along with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is given in Annexure C.

18. SEPARATE MEETING OF INDEPENDENT DIRECTORS:

As stipulated by the Code of Independent Directors under the Companies Act 2013 a separate meeting of the Independent Directors of the Company was held on Tuesday, 25^th March, 2025 to review the performance of Non-Independent Directors (including the Chairman) and the entire Board. The Independent Directors also reviewed the quality content and timeliness of the flow of information between the Management and the Board and its Committees which is necessary to effectively and reasonably perform and discharge their duties.

19. FAMILIARIZATION PROGRAM FOR INDEPENDENT DIRECTORS:

Every Independent Director is briefed about the history of the Company, its policies, customers, Company?s strategy, operations, organisation structure, human resources, technologies, facilities and risk management. Projects/Site visits are also arranged for the Directors who wish to familiarize themselves with the processes and operations of the Company.

The Independent Directors are briefed on their role, responsibilities, duties and are kept updated on the various regulatory and legislative changes that may occur from time to time affecting the operations of the Company. The Independent Directors are also briefed on the various policies of the Company like the code of conduct for directors and senior management personnel, policy on related party transactions, policy on material subsidiaries, whistle blower policy and corporate social responsibility policy and other policies adopted by the Company.

20. AUDITORS:

i. STATUTORY AUDITORS:

M/s. A. S. Bedmutha & Co., Chartered Accountant (FRN: 101067W) were appointed in the 12^th AGM of the company which was held on 25^th September, 2024 for a term of 5 years. However, M/s. A. S. Bedmutha & Co., Chartered Accountants have shown their unwillingness to continue as auditors of the company and have given their resignation.

The Board of Directors, on the recommendation of the Audit Committee, approved the appointment of M/s. SHARP AARTH & CO. LLP (FRN No. 132748W) as the Statutory Auditors of the Company w.e.f June, 04, 2025 till the conclusion of ensuing AGM in place of Casual vacancy on receipt of resignation letter dated May 15, 2025 from the previous Auditor M/s. A. S. Bedmutha & Co., Chartered Accountants (Firm Registration No. 101067W) Chartered Accountants.

M/s. SHARP AARTH & CO. LLP (FRN No. 132748W) being eligible in accordance with the provisions of the Sections 139, 141 and other relevant provisions the Act and the Companies (Audit and Auditors) Rules, 2014 for appointment and based on recommendation of the Audit Committee, the board of Directors proposed the Appointment of M/s. SHARP AARTH & CO. LLP as the Statutory Auditors of the company subject to shareholders approval, for a period of 5 years to hold office from the conclusion of 13^th AGM till the Conclusion of 18^th AGM of the company to be held in the year 2030 (subject to ratification of their appointment at every AGM)

The report of the Statutory Auditor forms part of the Annual Report. The Auditor?s report does not contain any qualifications, reservation or adverse remarks and are self-explanatory and thus does not require any further clarifications/comments. The statutory Auditors have not reported any incident of fraud to the Audit committee of the Company under review.

ii. SECRETARIAL AUDITOR:

Pursuant to the provisions of Section 179, 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and other applicable provisions, if any, the Company has re-appointed M/s. Akshay R. Birla, Practicing Company Secretaries (CP No.25084, Peer Review Certificate No. 5938/2024), as Secretarial Auditor, at the Board Meeting held on May 15, 2025, to undertake the Secretarial Audit of the Company for the F.Y. 2024-25. The Secretarial Audit Report for the Financial Year ended March 31, 2025 is annexed herewith as ANNEXURE-B.

iii. INTERNAL AUDITOR:

Pursuant to Section 138 of the Companies Act 2013 read with the Companies (Accounts) Rules 2014(as amended) the Board of Directors on the recommendations of the Audit Committee of the Company has appointed M/s SHARP AARTH & CO. LLP, Chartered Accountants, as an internal Auditor of the company for FY 2024-25.

The Internal Audit Finding/s and Report/s submitted by the said Internal Auditors during the financial year to the Audit Committee and Board of Directors of the Company do not contain any adverse remarks and qualifications hence do not call for any further explanation/s by the Company

iv. COST AUDITOR:

Your Company is principally engaged into Construction Activity. Therefore, Section 148 of the Companies Act, 2013 is not applicable to the Company.

21. RESPONSES TO QUALIFICATIONS, RESERVATIONS, ADVERSE REMARKS & DISCLAIMERS

MADE BY THE STATUTORY AUDITORS AND THE SECRETARIAL AUDITORS:

There are no qualifications, reservations, adverse remarks, and disclaimers of the Secretarial Auditor on compliances or of the Statutory Auditors in their report on Financial Statements for the Financial Year 2024-25. The Secretarial Audit Report for Financial year 2024-25 forms part of

Annual Report as Annexure to the Board?s Report.

22. VIGIL MECHANISM:

In pursuance of the provisions of section 177(9) & (10) of the Companies Act, 2013, a Vigil Mechanism for Directors and Employees to report genuine concerns has been established. The Vigil Mechanism Policy has been uploaded on the website of the Company. The Vigil Mechanism

/Whistle blower Policy is uploaded on the Company?s website at: https://www.atalrealtech.com/download/code_and_polices/7.%20ARL%20%20WHISTLE%20BLO WER%20POLICY.pdf

23. INTERNAL AUDIT & CONTROLS:

Pursuant to provisions of Section 138 read with rules made there under, the Board has appointed

M/s. BKSK & Associates, Chartered Accountants, as an Internal Auditors of the Company, at its Board Meeting held on 15^th May, 2025 for the Financial year 2025-2026 to check the internal controls and functioning of the activities and recommend ways of improvement. The Internal Audit is carried out quarterly basis; the report is placed in the Audit Committee Meeting and the Board Meeting for their consideration and direction.

The Internal Financial Controls with reference to financial statements as designed and implemented by the Company are adequate. During the year under review, no material or serious observation has been received from the Internal Auditors of the Company for inefficiency or inadequacy of such controls.

24. POLICY ON PRESERVATION OF DOCUMENTS:

The Company has formulated a Policy pursuant to Regulation 9 of the Securities Exchange Board of India (Listing obligations and Disclosure Requirements) Regulations, 2015 ("Regulations") on Preservation of the Documents to ensure safekeeping of the records and safeguard the Documents from getting manhandled, while at the same time avoiding superfluous inventory of Documents.

25. POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS:

The Policy is framed in accordance with the requirements of the Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Regulations).

The objective of the Policy is to determine materiality of events or information of the Company and to ensure that such information is adequately disseminated in pursuance with the Regulations and to provide an overall governance framework for such determination of materiality.

26. RISK ASSESSMENT AND MANAGEMENT:

Your Company has been on a continuous basis reviewing and streamlining its various operational and business risks involved in its business as part of its risk management policy. Your Company also takes all efforts to train its employees from time to time to handle and minimize these risks. The Risk Management Policy is uploaded on the Company?s website at: https://www.atalrealtech.com/download/code_and_polices/8.%20ARL%20%20RISK%20MAN AGEMENT%20POLICY.pdf

27. SUBSIDIARY COMPANIES /ASSOCIATE/JOINT VENTURE:

As on March 31, 2025, your Company does not have any subsidiaries/ Associate/Joint Venture.

However, the event of incorporation of "Atal Realty Limited" its wholly owned subsidiary was occurred on 2^nd June, 2025, after closure of Financial year 2024-2025.

28. LISTING WITH STOCK EXCHANGES:

Companies? shares were listed on Emerge SME Platform of NSE, by virtue of Regulation 15 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015). Company has migrated from SME Emerge Platform to Main Board on May 12, 2023 (i.e., NSE and BSE). It has paid the Annual Listing Fees for the financial year 2024-25 to NSE and BSE Limited.

29. COMPLIANCE WITH SECRETARIAL STANDARDS:

The Company is fully compliant with the applicable Secretarial Standards (SS) viz. SS-1 & SS-2 on Meetings of the Board of Directors and General Meetings respectively.

30. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE

EARNINGS AND OUTGO:

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

A. CONSERVATION OF ENERGY:

Particulars of Conservation of Energy are not given as the company is not covered by the Schedule of Industries which requires furnishing of information in Form A of total consumption of energy & per unit of consumption. a) Steps taken or impact on conservation of energy: NIL b) The Step taken by the company for utilizing alternate sources of energy: NIL c) The Capital investment on energy conservation equipment: NIL

B. TECHNOLOGY ABSORPTION: NIL

C. FOREIGN EXCHANGE EARNINGS AND OUTGO:

There were no foreign exchange earnings or outgo during the year under review.

31. MATERNITY BENEFIT AFFIRMATIONS:

The Directors hereby confirm that the Company is in full compliance with the provisions of the Maternity Benefit Act, 1961 and affirm that i. the Company provides maternity leave in accordance with the requirements of the Act; ii. all necessary facilities and entitlements mandated by the law are extended to

women employees; iii. no discriminatory practices are adopted against women employees on account of maternity or child birth

32. PARTICULARS OF LOANS, INVESTMENTS AND GUARANTEES:

The details of loans, investment, guarantees and securities covered under the provisions of section 186 of the Companies Act, 2013 are provided in the financial statement.

33. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

The company had taken approval from the Members in the EGM held on January 27, 2025 for Ratification of Material Related Party Transaction entered between Managing Director Mr. Vijaygopal Atal and the Company amounting Rs. 10,01,00,000/-. All the Related Party Transactions entered by the company in F.Y. 2024-2025 were within the limit as approved by the

Members, in the ordinary course of Business and on an arm?s length basis.

During the year under review, the Company had entered into contract / arrangement /transaction with related parties which is required to be reported in Form AOC-2 in terms of Section 134(3)(h) read with Section 188 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014.

All related party transactions are placed before the Audit Committee and Board for review and approval, if required. The details of the related party transactions as required under are set out in Notes to the financial statements forming part of this Annual Report. Annexure A

34. PREVENTION OF INSIDER TRADING:

In view of the SEBI (Prohibition of Insider Trading) Regulation 2015 the Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company. The details of the Insider Trading Policy have posted on the website of the Company.

The objective of this Code is to protect the interest of shareholders at large, to prevent misuse of any price sensitive information and to prevent any insider trading activity by dealing in shares of the Company by its Directors, designated employees and other employees. The Company also adopts the concept of Trading Window Closure, to prevent its Directors, Officers, designated employees and other employees from trading in the securities of Atal Realtech Limited at the time when there is unpublished price sensitive information.

35. CREDIT & GUARANTEE FACILITIES:

The Company has been availing secured loans, overdraft facilities and bank guarantee facilities from HDFC Bank Limited and AU Small Finance Bank Limited, from time to time for the business requirements.

36. INVESTOR EDUCATION AND PROTECTION FUND:

During the financial year 2024-25 ended 31st March 2025 under review there were no amount/s which is required to be transferred to the Investor Education and Protection Fund by the Company. As such no specific details are required to be given or provided.

37. DEPOSITS:

Your Company did not accept / hold any deposits from public / shareholders during the year under review.

38. SIGNIFICANT AND MATERIAL ORDERS:

There are no significant and material orders passed by the Regulators or Courts or Tribunals impacting the going concern status and Company?s operation in future.

39. OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

In accordance with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and rules made there under, the Company has framed and adopted the policy for Prevention of Sexual Harassment at Workplace. Company was not in receipt of any complaint of sexual harassment. The Prevention of Sexual Harassment at Workplace Policy is uploaded on the Company?s website at: https://www.atalrealtech.com/download/code_and_polices/10.%20ARL%20%20SEXUAL%20HAR ASSMENT%20POLICY.pdf

40. HUMAN RESOURCES:

Your Company considers people as its biggest assets and ‘Believing in People? is at the heart of its human resource strategy. It has put concerted efforts in talent management and succession planning practices, strong performance management and learning and training initiatives to ensure that your Company consistently develops inspiring, strong and credible leadership.

41. EMPLOYEE RELATIONS:

The relationship with the staff and workers continued to be cordial during the entire year. The Directors wish to place on record their appreciation of the valuable work done and co-operation extended by them at all levels. Further, the Company is taking necessary steps to recruit the required personnel from time to time.

42. CORPORATE SOCIAL RESPONSIBILITY (CSR):

The provisions of section 135 of the Companies Act, 2013 is not applicable to your Company as the Company does not fall under the criteria limits mentioned in the said section of the Act.

Hence, the Company has not taken voluntary initiative towards any activity mentioned for Corporate Social Responsibility.

43. CORPORATE GOVERNANCE:

As per Regulation 34 (3) read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Report on Corporate Governance, and a certificate regarding compliance with the conditions of Corporate Governance are appended to the Annual Report as

ANNEXURE-D.

44. REGISTRAR AND SHARE TRANSFER AGENT:

The Company has appointed Bigshare Services Private Limited as its Registrar and Share Transfer Agent. The Corporate Office of Bigshare Services Private Limited situated at Office No S6-2, 6th floor Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East) Mumbai - 400093, India.

45. ENHANCING SHAREHOLDERS VALUE:

Your Company believes that, its members are among its most important stakeholders.

Accordingly, your Company?s operations are committed to the pursuit of achieving high levels of operating performance and cost competitiveness, consolidating and building or growth, enhancing the productive asset and resource base and nurturing overall corporate reputation.

Your Company is also committed to creating value for its other stakeholders by ensuring that its corporate actions positively impact the socioeconomic and environmental dimensions and contribute to sustainable growth and development.

46. DISCLOSURES PERTAINING TO REMUNERATION OF DIRECTORS AS REQUIRED UNDER

SCHEDULE V TO THE COMPANIES ACT, 2013.

The Company has paid managerial remuneration in accordance with the requisite approval mandated by the provisions of Section 197 read with Schedule V of the Companies Act, 2013.

The details of remuneration paid during the financial year under is given below:

Name of the Director	Salary (Rs.)	Retirem ent benefits (Rs.)	Gratuit y (Rs.)	Bonus / Commis sion / Stock options	Total (Rs.)	Servic e Contra ct	Noti ce Peri od
Mr. Vijaygopal Atal (Managing Director)	21,78,000/- (1,81,500 p.m.)	NIL	NIL	NIL	21,78,000/-	5 years	-
Mr. Amit Sureshchandra Atal	33,00,000/- (2,75,000/- p.m.)	NIL	NIL	NIL	33,00,000/-	5 years	-

47. DIRECTORS? RESPONSIBILITY STATEMENT:

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

i. In the preparation of the annual accounts, the applicable accounting standards have been followed and there are no material departures.

ii. They 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 nancial year and of the pro t of the Company for that period.

iii. They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. They have prepared the annual accounts on a going concern basis.

v. They have laid down internal nancial controls to be followed by the Company and such internal nancial controls are adequate and operating effectively.

vi. They have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

Based on the framework of internal nancial controls and compliance systems established and maintained by the Company, work performed by the internal, statutory and secretarial auditors and external consultants and the reviews performed by management and the relevant board committees, including the audit committee, the board is of the opinion that the Company?s internal nancial controls were adequate and effective during the nancial year 2024-2025

48. MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis Report as required under Regulation 34 and Schedule V of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 forms an integral part of this Report, and provides the Company?s current working and future outlook as per

ANNEXURE-B.

49. SUSPENSION OF TRADING:

There was no occasion wherein the equity shares of the Company have been suspended for trading during the FY 2024-2025.

50. CAUTIONARY STATEMENTS:

Statements in this Annual Report, particularly those which relate to Management Discussion and Analysis as explained in the Corporate Governance Report, describing the Company?s objectives, projections, estimates and expectations may constitute ‘forward looking statements? within the meaning of applicable laws and regulations. Actual results might differ materially from those either expressed or implied in the statement depending on the circumstances.

51. POINTS TO BE CONSIDERED:

- No application(s) have been made by the Company and no proceeding(s) are pending under the Insolvency and Bankruptcy Code, 2016 during the year under review. - No valuation has been done for the purpose of one-time settlement or while taking loan from the Banks or Financial Institutions during the year under review.

52. DETAILS OF PENALTY IF ANY:

The Company has complied with all the requirements of the listing agreements with the stock exchanges as well as regulations and guidelines of SEBI. No penalties have been imposed or stricture has been issued by SEBI, stock exchanges or any Statutory Authorities on matters relating to capital markets during the last Three years.

The Company has followed all relevant accounting standards notified by the Companies Accounting Standards Rules 2006 and relevant provisions of the Companies Act, 2013 while preparing its financial statements.

53. ACKNOWLEDGEMENTS:

Your Directors would like to express deep sense of appreciation for the assistance and co- operation received from the Financial Institutions, Banks, Government Authorities and Shareholders and for the devoted service by the Executives, staff and workers of the Company. The Directors express their gratitude towards each one of them.