Brandman Retail Ltd Directors Report

To
The Members
Brandman Retail Limited
(Formerly Brandman Retail Private Limited)
DPT 718-719, 7th Floor DLF Prime Tower,
Okhla Phase-1, Okhla Industrial Area Phase-I,
South Delhi, New Delhi-110020, India.

Dear Members,

Your directors have the pleasure of presenting their 5th Board Report of Brandman Retail Limited (Formerly known as Brandman Retail Private Limited) (CIN: L52399DL2021PLC383350) on the business and operations of the company for the year ended on March 31, 2026, together with Audited Financial Statements (Standalone and Consolidated) and the report of the auditors thereon.

1. FINANCIAL HIGHLIGHTS:

(in Lakhs)

PARTICULARS	STANDALONE Year ended 31st March 2026	STANDALONE Year ended 31st March 2025	CONSOLIDATED Year ended 31st March 2026	CONSOLIDATED Year ended 31st March 2015
Revenue from business operations	16,240.87	13,522.26	16,240.87	13,529.49
Other income	925.86	488.77*	925.99	488.77*
Total income	17,166.73	14,011.03	17,166.85	14,018.26
Expenses:
(a) Purchase of Stock-in-Trade	12,650.39	6,078.16	12,650.39	6,068.46
(b) Changes in inventories of Finished goods	(2,881.29)	(3,123)	(2,881.29)	(14.95)
(c) Employee benefits expense	695.93	525.30	695.93	525.31
(d) Finance costs	209.23	294.88	209.36	294.97
(e) Depreciation and amortisation expense	124.80	87.67	124.80	87.67
(f) Other expenses	2,952.56	4,222.93	2,953.05	4,223.82
Total Expenses	13,751.62	11,177.71	13,752.23	11,185.30
Profit before exceptional and extraordinary items and tax	3,415.11	2,833.32	3,414.62	2,832.96
Exceptional items: Prior Period items	-	6.87	-	6.87
Profit Before Tax	3,415.11	2,840.18	3,414.62	2,839.83
Tax Expenses
Current Tax	892.41	731.09	892.41	731.09
Deferred Tax	4.68	(2.07)	4.68	(2.07)
Previous Year Tax Expenses	(11.89)	6.44	(11.89)	6.44
Profit/(Loss) for the period	2,529.91	2,104.73	2,529.41	2,104.37
Less: Minority Share	-	-	(0.02)	(0.02)
Profit/(Loss) for the period	2,529.91	2,104.73	2,529.44	2,104.39

* The increase in Other Income during FY 2025-26 is primarily attributable to the classification of discount received under Other Income, which was earlier adjusted against purchases.

2. DIVIDEND

During the financial year under review, the Board of Directors has not recommended any dividend in view of the financial position of the Company.

3. TRANSFER TO RESERVE
A profit of Rs. 2,529.91 Lakhs of standalone and a profit of Rs. 2,529.44 Lakhs of consolidated was transferred to the reserves and surplus during the financial year ended March 31, 2026, and the same is reflected under the head Reserves and Surplus in the Balance Sheet as of March 31, 2026.

4. TRANSFER OF UNCLAIMED DIVIDENDS TO INVESTOR EDUCATION AND PROTECTION FUND
Since the Company does not have any unpaid/ unclaimed dividends/other amounts, there is no amount required to be transferred into the Investor Education & Protection Fund account during the year under review.

5. STATE OF COMPANYS AFFAIRS AND FUTURE OUTLOOK:

i. Segment-wise position of business and its operations: The Company is primarily engaged in the retail and distribution of footwear, apparel and accessories, with a focus on offering a diverse portfolio of reputed international and lifestyle brands to customers in the Indian market. The Company operates through a combination of retail and distribution channels, catering to evolving consumer preferences and market requirements.

ii. Change in the Status of the Company: During the financial year under review, the status of the Company changed from an unlisted company to a listed company pursuant to the successful completion of its Initial Public Offering ("IPO").

The Equity Shares of the Company were listed and admitted to dealings on the SME Platform of the National Stock Exchange of India Limited ("NSE Emerge") with effect from February 11, 2026, pursuant to the successful completion of the IPO and receipt of the requisite approvals from the concerned authorities.

Accordingly, with effect from February 11, 2026, the Company became a listed entity and is subject to the applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, in addition to the applicable provisions of the Companies Act, 2013 and other relevant laws and regulations.

iii. Change in the Financial Year: There is no change in the financial year followed by the Company.

iv. Capital Expenditure Programme: NA

v. Details and status of acquisition, merger, expansion, modernisation, and diversification: NA

vi. Developments, acquisitions, and assignments of material intellectual Property Rights: NA

6. CHANGE IN NATURE OF BUSINESS
There was no change in the nature of the business of the Company during the financial year ended 31 March 2026. The Company continued to be engaged in the business of retail and distribution of footwear, apparel and accessories during the year under review.

7. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY
There have been no material changes and commitments, affecting the financial position of the Company, which have occurred between the end of the financial year of the Company and the date of this Report, except as follows:

Subsequent to the financial year-end, as part of its financing initiatives, the Company entered into various agreements dated 13th August, 2026 in connection with the proposed issue of Unlisted, Secured, Redeemable, Fully Paid-up, Non-Convertible Debentures ("NCDs") having a face value of 10,000,000 each, aggregating to 10 Crores, on a private placement basis.

Pursuant to the aforesaid agreements and necessary approvals, the Company allotted the said NCDs on 18th August, 2026. The said issuance has resulted in additional borrowings of 10 Crores and corresponding financial obligations of the Company in accordance with the terms of the NCDs.

8. CAPITAL STRUCTURE
During the year under review, there was no change in the Share Capital of the Company except as follows:

Authorised Share Capital
The authorized share capital of the Company is Rs. 22,00,000,000 (Rupees Twenty-Two Crores only), divided into 2,20,00,000 (Two Crore Twenty Lakh) equity shares having a face value of Rs. 10 each.

Paid-up Equity Share Capital:
During the financial year under review, the paid-up equity share capital of the Company increased from 12,75,00,000/- (Rupees Twelve Crores Seventy-Five Lakhs only), comprising 1,27,50,000 Equity Shares of 10/- each, to 18,45,71,860/- (Rupees Eighteen Crores Forty-Five Lakhs Seventy-One Thousand Eight Hundred Sixty only), comprising 1,84,57,186 Equity Shares of 10/- each, pursuant to the allotment of Equity Shares through private placement and Initial Public Offering during the financial year.

The details of the allotments are set out below:

a. Private Placement - October 27, 2025: The Company allotted 7,26,190 Equity Shares of face value of 10/- each at a premium of 137/- per Equity Share, for cash consideration, pursuant to a private placement.

b. Private Placement - October 31, 2025: The Company allotted 51,020 Equity Shares of face value of 10/- each at a premium of 137/- per Equity Share, for cash consideration, pursuant to a private placement.

c. Private Placement - November 19, 2025: The Company allotted 38,776 Equity Shares of face value of 10/- each at a premium of 137/- per Equity Share, for cash consideration, pursuant to a private placement.

d. Initial Public Offering (IPO) - February 9, 2026: The Company allotted 48,91,200 Equity Shares of face value of 10/- each at a premium of 166/- per Equity Share, for cash consideration, pursuant to its Initial Public Offering.

9. DETAILS OF SUBSIDIARY, JOINT VENTURE, OR ASSOCIATE COMPANIES:
During the financial year under review, the Company had one subsidiary company, namely Incubator Ecom Private Limited. The Company did not have any Associate Company or Joint Venture during the financial year under review. The performance and financial position of the subsidiary company and its contribution to the overall performance of the Company are reflected in the Consolidated Financial Statements of the Company. The prescribed particulars relating to the subsidiary company, including its financial performance and financial position, are provided in Form AOC-1, which is attached as Annexure A to this Boards Report and forms an integral part thereof.

10. DETAILS OF DIRECTOR AND KEY MANAGERIAL PERSONNEL:

The composition of the Board of Directors and KMP as on 31 March 2026 is as follows:

S. No. Name of Director	DIN/PAN	Category of Directorship
1. Mr. Arun Malhotra	01392489	Chairman, Managing Director
2. Mrs. Kavya Malhotra	00599179	Whole-time Director
3. Ms. Kashika Malhotra	10655701	Non-Executive Director
4. Ms. Neha Shukla	11230754	Independent Director
5. Mr. Philippe Pierre Dubois	10765485	Independent Director
6. Mr. Paul Jonathan Silvertown	10769812	Independent Director
7. Ms. Sanchita Rameka	BQBPAl905N	Company Secretary

(a) Names of the persons who have been appointed/ceased to be directors/and/or Key Managerial Personnel of the Company:

i. During the year:

S. No. Name of the Director/KMP	DIN/PAN	Category of Directorship	Mode of appointment/ cessation/Change in Designation
1. Ms. Neha Shukla	11230754	Independent Director	Appointment
2. Mr. Philippe Pierre Dubois	10765485	Independent Director	Appointment
3. Mr. Paul Jonathan Silvertown	10769812	Independent Director	Appointment
4. Ms. Sanchita Rameka	BQBPAl905N	Company Secretary	Appointment
5. Mr. Saket Prakash	ASCPP0029N	CFO	Appointment
6. Ms. Sonal Mantri	10616908	Independent Director	Cessation
7. Mr. Rajat Raja Kothari	09604960	Independent Director	Cessation
8. Ms. Aarti Singh	BRNPS0627L	Company Secretary	Cessation
9. Mr. Saket Prakash	ASCPP0029N	CFO	Cessation

ii. After the end of the year and up to the date of the Report:

S. No. Name of the Director/KMP	DIN/PAN	Category of Directorship	Mode of appointment/ cessation
1. Mr. Ayushman Dubey	FGKPD4904H	CFO	Appointment
2. Mr. Gaurav Sharma	07929731	Independent Director	Appointment
3. Mr. Devendra Singh Negi	ACBPNI404E	CEO	Appointment
4. Mr. Gaurav Sharma	07929731	Independent Director	Cessation
5. Mr. Devendra Singh Negi	ACBPNI404E	CEO	Cessation

11. INDEPENDENT DIRECTOR AND DECLARATION BY INDEPENDENT DIRECTOR AND STATEMENT ON COMPLIANCE ON COMPLIANCE OF CODE OF CONDUCT:
The Company has received the requisite declarations from all the Independent Directors confirming their independence in accordance with the provisions of the Companies Act, 2013 and applicable SEBI regulations. The Independent Directors have also confirmed compliance with the Code for Independent Directors prescribed under Schedule IV to the Companies Act, 2013. The Directors and Senior Management Personnel have affirmed compliance with the Code of Conduct of the Company during the financial year ended 31 March 2026.

12. COMPANYS POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION INCLUDING CRITERIA FOR DETERMINING QUALIFICATIONS, POSITIVE ATTRIBUTES, INDEPENDENCE OF A DIRECTOR AND OTHER MATTERS PROVIDED UNDER SUB-SECTION (3) OF SECTION 178:

The Company has in place a Nomination and Remuneration Policy for appointment and remuneration of Directors, Key Managerial Personnel and Senior Management. The Policy lays down the criteria for determining the qualifications, positive attributes and independence of Directors and the principles governing their remuneration.

There was no material change in the Policy during the financial year ended 31 March 2026.

The Company has adopted the above policy, which has been published on its Website at https://brandmanretail.com/pages/investor.

13. MEETING OF BOARD OF DIRECTORS:
During the financial year 2025-26, 31 (Thirty-One) Meetings of the Board of Directors of the company were held on various dates as follows:

The details of Board Meetings are given below:

01/04/2025, 07/04/2025, 16/04/2025, 30/04/2025, 13/05/2025, 19/05/2025, 20/05/2025, 21/05/2025, 04/06/2025, 26/06/2025, 01/08/2025, 08/08/2025, 09/08/2025, 16/08/2025, 25/08/2025, 04/09/2025, 05/09/2025, 06/09/2025, 08/10/2025, 10/10/2025, 16/10/2025, 27/10/2025, 31/10/2025, 11/11/2025, 19/11/2025, 19/01/2026, 23/01/2026, 25/01/2026, 28/01/2026, 29/01/2026, 09/02/2026

14. PARTICULARS OF LOANS, GUARANTEES, AND INVESTMENT UNDER SECTION 186:
There are no loans, guarantees, or investments made by the Company pursuant to provisions of Section 186 of the Companies Act, 2013.

15. RELATED PARTY TRANSACTIONS:
During the year under review, the company has entered into transactions with the related parties in the ordinary course of business and on an arms length basis. The disclosures in this regard are made in Form AOC-2 attached as "Annexure-B"

16. COMPLIANCE WITH SECRETARIAL STANDARDS:
The Company has complied with the applicable Secretarial Standards (as amended from time to time) on meetings of the Board of Directors issued by The Institute of Company Secretaries of India and approved by the Central Government under section 118(10) of the Companies Act, 2013.

17. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS & OUTGO:
The information on the conservation of energy, technology absorption, and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act, 2013, read with Rule 8 of The Companies (Accounts) Rules, 2014, is given below:

A. Conservation of Energy
(i) The steps taken or the impact on the conservation of energy	Operations of the Company are not energy-intensive; still, the company has taken necessary steps to ensure optimum utilisation of energy.
(ii) The steps taken by the company to utilise alternative sources of energy	NIL
(ii) The steps taken by the company to utilise alternative sources of energy	NIL
B. Technology Absorption
(i) The efforts made towards technology absorption;	NIL
(ii) The benefits derived like product improvement, cost reduction, product development or import substitution	NIL
(iii) In case of imported technology (imported during the last three years, reckoned from the beginning of the financial year);	NIL
a) The details of technology imported;	NIL
b) The year of import;	NIL
c) whether the technology been fully absorbed;	NIL
d) If not fully absorbed, areas where absorption has not taken place, and the reasons thereof;	NIL
(iv) The expenditure incurred on Research and Development;	NIL

C. Foreign Exchange Earnings and Outgo

	Current Year 31st March, 2026 (Rs in Lakhs)	Previous Year 31st March, 2025 (Rs in Lakhs)
Foreign Exchange Earnings	4,654.79	1,918.70
Foreign Exchange Outgo	3982.89	1,280.94

18. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE COMPANY:
Risk Management is the process of identification, assessment, and prioritisation of risks followed by coordinated efforts to minimise, monitor, and mitigate/control the probability and/or impact of unfortunate events or to maximise the realisation of opportunities.

The Company understands that risk evaluation and mitigation is an ongoing processes within the organisation, and the Board of Directors is fully committed to the identification and mitigation of risk.

In the opinion of the Board, as of the date, there are no material risks that may threaten the existence of the Company.

19. DETAILS OF POLICY DEVELOPMENT AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY (CSR) INITIATIVES:
Since the company has crossed the prescribed limit of net worth or turnover, or net profit provided under 135(1) of the Companies Act 2013, the provision related to the development and implementation of Corporate Social Responsibility (CSR) initiatives is applicable to the Company. Details of the CSR policy are available on the company website, i.e. https://brandmanretail.com/pages/investor

CSR Committee
1. Ms. Neha Shukla	Independent Director	Chairperson	2	2
2. Ms. Kashika Malhotra	Non-Executive Director	Member	2	2
3. Mr. Arun Malhotra	Managing Director	Member	2	2

The Company has completed its CSR Obligation. The details of the CSR Spending by the company are mentioned in "Annexure C".

20. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS:
The Company has in place adequate internal financial controls with reference to financial statements. During the year under review, such controls were tested, and no reportable material weakness in the design or operation was observed.

21. DEPOSITS:
The Company has not accepted any deposits from the public within the meaning of sections 73 to 76 of the Companies Act 2013 and the rules framed thereunder.

22. MONEY RECEIVED FROM DIRECTOR AND/OR RELATIVES OF DIRECTORS:
As of March 31, 2026, the Company has no Outstanding loan from Directors and/or Relatives of Director.

23. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND TRIBUNALS:
No significant and material order has been passed by the regulators, courts, or tribunals impacting the going concern status and the Companys operations in the future.

24. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SECTION 143(12) OTHER THAN THOSE REPORTABLE TO THE CENTRAL GOVERNMENT:
During the year under review, no frauds were reported by the Auditors of the Company.

25. DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013:
The Company has complied with the applicable provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and has constituted an Internal Complaints Committee (ICC) in accordance with the provisions of the said Act.

Number of Complaints of sexual harassment received in a year	Number of complaints disposed of during the year	Number of cases pending for more than 90 days
-	-	-

During the year under review, no case of sexual harassment was reported.

26. STATUTORY AUDITORS:
M/s Manish Pandey & Associates, Chartered Accountants (FRN: 019807C), were re-appointed as the Statutory Auditors of the Company in the Annual General Meeting (AGM) of the company held on September 30, 2024, for the period of 5 (Five) consecutive financial years from 2024-2025 till the conclusion of the Annual General Meeting (AGM) for the Financial Year 2028-2029.

27. DISCLOSURE OF COMPOSITION OF THE AUDIT COMMITTEE AND PROVIDING VIGIL MECHANISM:
The provisions of Section 177 of the Companies Act, 2013, read with rules 6 and 7 of the Companies (Meetings of the Board and its Powers) Rules, 2013, and any amendment thereof, is applicable to the Company. The composition of the Audit Committee is as follows:

Sr. No. Name of Member	Nature of Directorship	Designation
1. Neha Shukla	Independent Director	Chairperson
2. Philippe Pierre Dubois	Independent Director	Member
3. Arun Malhotra	Managing Director	Member

There were changes in the composition of the Audit Committee after the end of the financial year and up to the date of this Report. The Audit Committee was reconstituted from time to time during the said period pursuant to changes in its composition.

Mr. Gaurav Sharma was inducted as a member of the Audit Committee after the end of the financial year. Subsequently, upon his resignation/cessation, the Audit Committee was further reconstituted and Mr. Philippe Pierre Dubois was inducted as a member of the Audit Committee. Accordingly, as on the date of this Report, the composition of the Audit Committee is as follows:

Accordingly, as on the date of this Report, the composition of the Audit Committee is as follows:

Sr. No. Name of Member	Nature of Directorship	Designation
1. Neha Shukla	Independent Director	Chairman
2. Philippe Pierre Dubois	Independent Director	Member
3. Arun Malhotra	Managing Director	Member

The Company has established a Vigil Mechanism/ Whistle Blower Policy enabling Directors and employees to report genuine concerns regarding unethical behaviour, actual or suspected fraud, violation of the Companys Code of Conduct or other concerns. The mechanism provides adequate safeguards against victimisation and provides for direct access to the Chairperson of the Audit Committee in appropriate or exceptional cases.

28. EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS, OR ADVERSE REMARKS OR DISCLAIMERS MADE BY AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS:
During the Financial Year under review, there were no qualifications, adverse remarks, or disclaimers made by the Statutory Auditor in their Audit Report in respect of the Financial Statements of the Company.

29. EXPLANATIONS IN RESPONSE TO AUDITORS QUALIFICATIONS:
The observations of the Statutory Auditors, when read together with the relevant notes to the accounts and accounting policies, are self-explanatory and do not call for any further comment.

30. DISCLOSURE OF ANNUAL RETURN ON THE WEBSITE OF THE COMPANY:
The Annual Return of the Company has been placed on its website at: https://brandmanagement.com/

31. DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 134(3)(c) of the Companies Act, 2013, the Board of Directors states that:

a) In the preparation of the annual accounts, the applicable accounting standards have been followed by the Company, along with proper explanation relating to material departures, if any.

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

c) The director had 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;

d) The director had prepared the annual accounts on a going concern basis;

e) The directors had laid down internal financial controls to be followed by the company, wherever required, and that such internal financial controls were adequate and were operating effectively, and

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

32. PROCEEDINGS PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016:
No application has been made, nor any proceeding is pending under the IBC, 2016. Hence, this clause is not applicable.

33. CONSOLIDATED FINANCIAL STATEMENTS:
The consolidated financial statements of the company are also being presented in addition to the standalone financial statements of the company.

34. REQUIREMENT FOR MAINTENANCE OF COST RECORDS:
The Cost Records are not required to be maintained by the company as per Section 148 of the Companies Act, 2013.

35. ANNUAL EVALUATION OF THE PERFORMANCE OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTORS:
Pursuant to the provisions of the Companies Act, 2013 and applicable regulations, the Board of Directors has carried out an annual evaluation of the performance of the Board as a whole, its Committees and individual Directors for the financial year ended 31 March 2026.

The evaluation was carried out based on various parameters, including composition and effectiveness of the Board and its Committees, participation and contribution of Directors, quality of deliberations, strategic guidance and discharge of responsibilities.

The performance evaluation of the Independent Directors was carried out by the Board, excluding the Director being evaluated. The Directors expressed their satisfaction with the evaluation process and the overall performance of the Board and its Committees.

36. REMUNERATION OF DIRECTORS AND EMPLOYEES:
The disclosures relating to remuneration of Directors and employees as required under Section 197(12) of the Companies Act, 2013 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are set out in Annexure D to this Boards Report and form an integral part of this Report.

The Annexure contains, inter alia, the ratio of remuneration of each Director to the median remuneration of employees and other prescribed particulars.

37. SECRETARIAL AUDIT AND SECRETARIAL AUDIT REPORT:
Pursuant to the provisions of Section 204 of the Companies Act, 2013, the Company appointed M/s. Mamta Binani & Associates, Practicing Company Secretaries, as the Secretarial Auditor of the Company to conduct the Secretarial Audit for the financial year 2025-26.

The Secretarial Audit was conducted by M/s. Mamta Binani & Associates in accordance with the applicable provisions of the Companies Act, 2013 and the rules made thereunder. The Secretarial Audit Report for the financial year ended 31 March 2026 is annexed as Annexure E to this Boards Report and forms an integral part thereof.

The Secretarial Audit Report does not contain any qualification, reservation, adverse remark or disclaimer requiring any explanation or comments from the Board of Directors.

38. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
The Management Discussion and Analysis Report for the financial year ended 31 March 2026, as required under the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is presented as Annexure F to this Boards Report and forms an integral part of the Annual Report.

The report provides an overview of the Companys business operations, financial performance, industry and market developments, opportunities and challenges, risks and concerns, and future outlook, thereby providing stakeholders with an understanding of the Companys performance and strategic direction.

39. MATERNITY BENEFITS ACT, 1961:
The Company has complied with the applicable provisions of the Maternity Benefit Act, 1961. It has ensured that all eligible female employees are extended the benefits mandated under the Act, including paid maternity leave, nursing breaks, and protection from dismissal during maternity leave.

The Company remains committed to providing a safe, supportive, and inclusive work environment and continues to implement policies that support the health and well-being of women employees, especially during maternity and post-maternity periods.

40. ACKNOWLEDGEMENT:
The Directors would like to express their sincere appreciation for the assistance and cooperation received from the banks, Government authorities, and members during the year under review. The Directors also wish to place on record their deep sense of appreciation for the committed services of the Companys executives.

For Brandman Retail Limited

(Formerly known as Brandman Retail Private Limited)

Date: 24.08.2026

Place: Delhi

Sd/-

Arun Malhotra

Managing Director

DIN: 01392489

Address: C-2A, Ansal Villas, Satbari, South Delhi, Delhi-110074, India

Sd/- Kavya Malhotra

Whole-time Director

DIN: 00599179

Address: C-2/A, Kh No. 666, 789 G/F Ansal Farm Village Satbari, South Delhi, Delhi-110074,

India