Calcom Vision Ltd Directors Report

Dear Members,

Your Directors are pleased to present the 39th Annual Report on the operations of your Company together along with Annual Audited Financial Statements for the year ended March 31, 2024. The financial highlights of the Company for FY 2023-24 are given below:

FINANCIAL RESULTS

The highlights of the standalone & consolidated financial results of your Company along with previous years figures are as under:

Standalone

(INR in Lacs)

Particulars	Year ended March 31, 2024	Year ended March 31, 2023
Income
Revenue from Operations	16019.85	16006.73
Financial Charges	491.39	318.57
Depreciation	298.88	241.44
Profit/(Loss) before Tax	216.19	808.59
Tax Expense	84.13	243.97
Profit/(Loss) after tax	132.06	564.62

Consolidated

Particulars	Year ended March 31, 2024	Year ended March 31, 2023
Income
Revenue from Operations	16019.85	16006.73
Financial Charges	491.39	318.57
Depreciation	298.88	241.44
Profit/(Loss) before Tax	216.19	808.59
Tax Expense	84.13	243.97
Profit/(Loss) after tax	132.06	564.62

*Consolidated Financial Statements have become applicable to the Company from this Financial Year only.

The Financial Statements have been prepared in accordance with the Indian Accounting Standards (IND AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time).

OVERVIEW AND STATE OF COMPANYS AFFAIRS

During the year under review, the total Sales of your Company were INR 16019.85 Lacs as against INR 16006.73 Lacs for the previous year. The Net Profit for the year was INR 132.06 Lacs as compared to Net Profit INR 564.62 Lacs during previous year.

The sales for the FY24 is increased by 0.08% as compared to the previous FY23. The Revenue CAGR of Calcom over the last 5 years is 25.08% and for last 2 years is 26.5%.

The EBITDA %age has decreased by 26.46% as compared to the previous FY23.

During the year under review, there has been no change in the nature of business of the Company.

Detailed information on the operations of the business of the Company are covered in the Management Discussion and Analysis Report, which forms part of the Annual Report.

SHARE CAPITAL

During the year under review, the Company allotted 1,12,551 Equity Shares of H 10/- each pursuant to exercise of Employee Stock Options by eligible employees under Calcom Vision Employees Stock Option Plan-2018 (“ESOP PLAN”) and 5,52,117 Equity Shares of H 10/- each through Preferential Allotment.

Consequently, the Paid up, Issued and Subscribed Share Capital of your Company was increased from H 12,79,18,020 at the beginning of the FY to H 13,45,64,700 at the end of the FY.

During the year under review, the Company issued & allotted 3,82,164 fully convertible warrants to the Promoter & Promoter Group and 15,923 fully convertible warrants to Non-Promoter category.

Further, during the period under review, your Company has not bought back any of its securities / has not issued any Sweat Equity Shares / has not issued any Bonus Shares/ has not issued shares with Differential Voting rights and there has been no change in the voting rights of the shareholders.

EMPLOYEE STOCK OPTION PLAN

The Company implemented the Employees Stock Option Scheme (“ESOP Scheme”) in accordance with the SEBI (Share Based Employee Benefits) Regulations, 2014, read with Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 (“SEBI SBEB Regulations”) as a measure to reward and motivate employees as also to attract and retain talent.

The objective of the said ESOPs is to enhance employee motivation, enable employees to participate, directly or indirectly, in the long-term growth and success of your Company.

Also, such tools act as a retention mechanism by enabling employee participation in the business as its active member.

Disclosures on details of options granted, shares allotted upon exercise, etc. as required under the Securities and Exchange Board of India (Share Based Employee Benefits and sweat equity) Regulations, 2021 are set out in Annexure XI to this Report.

Further, details of options granted and exercised are included in the notes to accounts forming part of financial statement.

The Secretarial Auditor of your Company, M/s Akash Verma & Associates, Practicing Company Secretary, COP No. 22065 have certified that the Employee Stock Option Plan of the Company has been implemented in accordance with the applicable SEBI Regulations and the resolution passed by the Members in this regard. A certificate to this effect shall also be placed before the members at the ensuing Annual General Meeting.

DIVIDEND

The Company has not declared any dividend during the Financial Year 2023-24.

TRANSFER TO RESERVES

Details with regard to amount transferred to reserves are provided in the Notes to Financial Statements forming part of this Annual Report.

INVESTOR EDUCATION AND PROTECTION FUND

During the year under review, your Company was not required to transfer any funds to Investor Education and Protection Fund (IEPF).

DEPOSITS

During the year under review, your Company has not accepted any deposits from the public under Section 73 and 76 of the Act and rules made thereunder.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

During the financial year ended March 31, 2024, the Company has not given any loans, provided any guarantees / securities that are covered under the provisions of Section 186 of the Act.

The Company made investments in share capital of other Body Corporates that are covered under the provisions of Section 186 of the Act as given below:

S. No Date of Investment	Name of Body Corporate	Nature of Relationship	Amount Invested
1 25.03.2024	Calcom Taehwa Techno Pvt Ltd	Associate Company	25,00,000
2 27.02.2024	Calcom Kadapa Pvt. Ltd	Wholly Owned Subsidiary Company	9,990

Both the investments made are within the limits specified under Section 186(2) and are approved by the Board of Directors.

RELATED PARTY TRANSACTIONS

As per the requirements of the Act and SEBI Listing Regulations, your Company has formulated a Policy on Related Party Transactions which is also available on the Companys Website http://www. calcomindia.com/.

All related party transactions are placed before the Audit Committee and also the Board for approval, as per applicable provisions of law. Prior omnibus approval of the Audit Committee is obtained as per SEBI Listing Regulations for the transactions which are foreseen and are repetitive in nature.

There were no materially significant transactions with related parties (i.e. transactions exceeding Rupees one thousand crore or 10% of the annual consolidated turnover, whichever is lower) during the year as per the last audited financial statements.

The disclosure of transactions entered into with related parties pursuant to the provisions of Section 188(1) of the Companies Act, 2013 and Rule 8(2) of the Companies (Accounts), Rules 2014 in Form AOC-2 is enclosed in Annexure-II.

For details on Related Party Transactions, you may refer Notes to financial statements forming part of the Annual Report.

MATERIAL CHANGES AFFECTING FINANCIAL POSITION

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 your Company to which the Financial Statements relate and the date of Board Report.

Directors and Key Managerial Personnel who were Appointed/ Re-appointed or have resigned during the Year

During the year under review, the following changes in the Board composition/Key Managerial Personnel have taken place:

a) Resignation of Company Secretary: Ms. Aayushi Jindal (M. No. 55567), Company Secretary & Compliance Officer of the Company resigned from the position of Company Secretary and placed before the Board her resignation letter in Board Meeting held on February 13, 2024.

b) Appointment of Company Secretary: Ms. Rakhi Sharma (M. No. 72812), on the recommendation of Nomination & Remuneration Committee was appointed by the Board in its Meeting held on February 13, 2024 as Company Secretary & Compliance Officer of the Company.

c) The Board in its meeting held on April 18, 2023 re-appointed Mr. Sushil Kumar Malik (DIN: 00085715), Chairman & Managing Director with effect from July 31, 2023 for a term of Five Years i.e from 31.07.2023 to 30.07.2028. The re-appointment was confirmed by the shareholders through postal ballot on May 20, 2023.

d) The Board in its Meeting held on May 30, 2023 approved the change in designation of Mr. Akhauri Rajesh Sinha (DIN: 03566720) from Non-Executive Independent Director to Non-Executive Vice Chairman (as non-independent director) with effect from June 01, 2023 which was approved by Shareholders by passing a Special Resolution in the last Annual General Meeting held on September 30, 2023.

*After the close of FY 2023-24, Dr. Om Prakash Sood (DIN: 06954639) retired from the Board and its committees with effect from April 19, 2024 since he completed his two consecutive terms of Five years each on Board as an Independent Director on April 19, 2024.

Apart from the above, there were no other appointment and resignations of directors and/or Key Managerial Personnel of the Company.

KEY MANAGERIAL PERSONNEL (“KMPs”)

Pursuant to the provisions of Section 203 of the Act, as on March 31, 2024, Mr. Sushil Kumar Malik –Chairman & Managing Director, Mr. Abhishek Malik- Whole-time Director, Mr. Pramod Kumar – Chief Financial Officer and Ms. Rakhi Sharma – Company Secretary & Compliance Officer are the Key Managerial Personnel (“KMP”) of the Company, pursuant to the provisions of the Companies Act, 2013.

During the Financial Year, in a Meeting of Board held on 13.02.2024, the Board approved the resignation of previous Company Secretary, Ms. Aayushi Jindal (M. No. 55567) and appointed Ms. Rakhi Sharma (M. No. 72812) to fill the resultant vacancy.

There was no other change in the KMPs of the Company during the period under review.

DIRECTORS LIABLE TO RETIRE BY ROTATION

In accordance with the provisions of Section 152(6) of the Companies Act, 2013, not less than 2/3rd (two-thirds) of the total number of Directors (other than Independent Directors) shall be liable to retire by rotation. Accordingly, pursuant to the Act read with Articles of Association of your Company, Mr. Akhauri Rajesh Sinha (DIN: 03566720) is liable to retire by rotation in the ensuing Annual General Meeting and he does not seek re-appointment.

STATEMENT OF DECLARATION BY INDEPENDENT DIRECTORS

In terms of Section 149(6) of the Act and Regulation 16 & 25 of SEBI Regulations, the following four Non- Executive Directors were categorized as Independent Directors of the Company as on March 31, 2024:

a) Dr. Om Prakash Sood (DIN: 06954639) b) Mr. Sunder Hemrajani (DIN: 01935048) c) Mr. Ashok Kumar Sinha (DIN: 08812305) d) Mrs. Parvathy Venkatesh (DIN: 00414603)

The Company has received requisite declaration of independence from all the above-mentioned Independent Directors in terms of the Act and SEBI Regulations, confirming that they continue to meet the criteria of independence. Further, in pursuance of Rule 6 of the Companies (Appointment and Qualifications of Directors) Rules, 2014, all Independent Directors of the Company have confirmed their registration with the Indian Institute of Corporate Affairs (IICA) database.

BOARD OF DIRECTORS, ITS COMMITTEES AND MEETINGS THEREOF

As of the date of this report, the Board of Directors of the Company comprises of 6 (Six) members with 2 (Two) Executive Directors and 4 (Four) Non-Executive Directors out of which 3 (three) are independent.

Mr. Sushil Kumar Malik (DIN: 00085715) Chairman & Managing Director, Mr. Abhishek Malik (DIN: 00085220) Whole-time Director of the Company are Executive Directors.

Mr. Akhauri Rajesh Sinha (DIN: 03566720) Non-Executive Vice Chairman, Mr. Sunder Hemrajani (DIN: 01935048) Non-executive Independent Director, Mr. Ashok Kumar Sinha (DIN: 08812305) Non-executive Independent Director and Mrs. Parvathy Venkatesh (DIN: 00414603) Non-executive Independent Director.

Further, in terms of Section 152(6) of the Act and the Articles of Association of the Company, Mr. Akhauri Rajesh Sinha (DIN: 03566720) is liable to retire by rotation at the ensuing Annual General Meeting. Mr. Akhauri Rajesh Sinha does not seek re-appointment at the ensuing Annual General Meeting.

COMMITTEES

The Company has the following committees which have been established as a part of the best corporate governance practices and are in compliance with the requirements of the relevant provisions of applicable laws and statutes. A detailed note on the same is provided under the Corporate Governance Report forming part of this Annual Report.

1. Audit Committee

The Audit Committee met 5 (five) times during the financial year 2023-24, viz. on April 18, 2023, May 30, 2023, August 10, 2023, November 08, 2023 and February 13, 2024. The Committee, as on March 31, 2024, comprised of Dr. Om Prakash Sood

(Chairman), Mr. Sunder Hemrajani, Mrs. Parvathy Venkatesh and Mr. Ashok Kumar Sinha.

*Post the retirement of Dr. Om Prakash Sood, the audit committee was reconstituted with Mrs. Parvathy Venkatesh (Chairperson), Mr. Sunder Hemrajani and Mr. Ashok Kumar Sinha.

2. Nomination and Remuneration Committee

The Nomination and Remuneration Committee met 3 (three) times during the financial year 2023-24, viz. on April 18, 2023, May 30, 2023 and February 13, 2024. The Committee, as on March 31, 2024, comprised of Mr. Sunder Hemrajani (Chairman), Dr. Om Prakash Sood, Mr. Ashok Kumar Sinha and Mr. Sushil Kumar Malik.

*Post the retirement of Dr. Om Prakash Sood, the Nomination

& Remuneration Committee was reconstituted with Mr. Sunder Hemrajani (Chairman), Mr. Ashok Kumar Sinha and Mr. Sushil Kumar Malik.

3. Stakeholders Relationship Committee:

The Committee met once during the financial year 2023-24, viz. on February 13, 2024. The Committee, as on March 31, 2024, comprised of Mr. Om Prakash Sood (Chairman), Mr. Sunder Hemrajani and Mr. Sushil Kumar Malik.

*Post the retirement of Dr. Om Prakash Sood, the Stakeholders Relationship Committee was reconstituted with Mr. Ashok Kumar Sinha (Chairman), Mr. Sunder Hemrajani and Mr. Sushil Kumar Malik.

4. Corporate Social Responsibility Committee:

In compliance with the mandatory requirement under Section 135 of the Companies Act, 2013, the company has constituted a Corporate Social Responsibility (CSR) Committee on January 02, 2024 with Mr. Sushil Kumar Malik (Chairman), Mr. Abhishek Malik and Mrs. Parvathy Venkatesh. This committee is responsible for formulating and monitoring the CSR policy of the company, ensuring that our CSR initiatives are aligned with our commitment to social and environmental responsibility.

The Committee met once during the financial year 2023-24, viz. on February 13, 2024. The Committee, as on March 31, 2024, comprised of Mr. Sushil Kumar Malik (Chairman), Mr. Abhishek Malik and Mrs. Parvathy Venkatesh.

5. Independent Directors meeting:

The Board of Directors of the Company comprised of four Independent Directors as on March 31, 2024 viz. Dr. Om Prakash Sood, Mr. Sunder Hemrajani, Mrs. Parvathy Venkatesh and Mr. Ashok Kumar Sinha. The Independent Directors had a separate meeting on February 13, 2024 which was chaired by Mr. Ashok Kumar Sinha. The meeting was conducted to evaluate the:

(a) Performance of non-independent Directors and the Board as a whole;

(b) Performance of the Chairperson of the Company, taking into account the views of Executive Directors and Non-Executive Directors; and

(c) Quality, content and timeliness of the flow of information between the Company management and the Board that is necessary for the Board to effectively and reasonably perform their duties.

FAMILIARIZATION PROGRAMME FOR THE INDEPENDENT DIRECTORS

In compliance with the requirements of the SEBI Listing Regulations, your Company has put in place a familiarization programme for the Independent Directors to familiarize them with their roles, rights and responsibility as Directors, working of the Company, nature of the industry in which the Company operates, business model etc. The details of the familiarization programme are explained in the Corporate Governance Report.

PERFORMANCE EVALUATION OF THE BOARD

As per the requirements of the Act and SEBI Listing Regulations, a formal Annual Evaluation process has been carried out for evaluating the performance of the Board, the Committees of the Board and the Individual Directors including Chairman.

The performance evaluation was carried out by obtaining feedback from all Directors through a confidential online survey mechanism through Diligent, a secured electronic medium through which the Company interfaces with its Directors.

The directors were also provided an option to participate through physical mode. The outcome of this performance evaluation was placed before the Nomination and Remuneration Committee and

Independent Directors Committee and the Board in their respective meetings for the consideration of the Board/ Committee members.

The review concluded by affirming that the Board as a whole as well as its Chairman, all of its members, individually and the Committees of the Board continued to display a commitment to good governance by ensuring a constant improvement of processes and procedures and contributed their best in the overall growth of the organization.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

Your Company has established a vigil mechanism through which directors, employees and business associates may report unethical behaviour, malpractices, wrongful conduct, fraud, violation of Companys code of conduct, leak or suspected leak of unpublished price sensitive information without fear of reprisal.

The directors, employees, business associates have direct access to the Chairman of the Audit committee. The details of vigil mechanism have been shared in the “Corporate Governance Report”.

MANAGEMENT DISCUSSION AND ANALYSIS

The Management Discussion and Analysis Report for the year under review as stipulated under SEBI Listing Regulations with the Stock Exchanges in India is presented in a separate section forming part of this Annual Report.

RISK MANAGEMENT POLICY

The Company has formulated a risk management policy and has in place a mechanism to inform the Board about risk assessment and minimisation procedures along with a periodical review to ensure that executive management controls risk by means of a properly designed framework.

ADEQUACY OF INTERNAL CONTROL SYSTEM AND COMPLIANCE WITH LAWS

Your Company has an adequate and effective system of internal controls commensurate with the nature of its business and the size and complexity of its operations The Companys internal control mechanism aims to safeguard its assets as well as authorise record and report all transactions correctly and on time. These control processes facilitate in safeguarding the organisations assets, preventing and detecting frauds and errors, ensuring accurate and complete accounting and timely preparation of reliable financial information.

The control mechanism ensures that the manual and automated processes for transaction approval and recording are adequately and effectively reviewed. It ensures compliance with various policies, practices and statutes in keeping with the organisations growth and business complexity.

Controls concerning authorization to SAP are reviewed periodically, and are initiated towards function based User access, supported by Governance Risk and Controls module of SAP. Further actions are initiated to effectively utilize the evolving SAP solution around Process Controls and continued monitoring through automations and exception management.

Your Company is in constant endeavour towards IT enablement in all key processes. Major controls under Credit policy, Customer/Vendor management, Procurement,

Scheme settlements, E-invoicing/waybill, etc. are embedded within SAP, assuring accuracy.

Every quarter, the Audit Committee of the Board is presented with key concerns and the actions taken by your Company on concern areas. Also, the Audit Committee, provide its observation, suggestions and recommendations.

ANNUAL RETURN

As required under Section 134(3)(a) of the Act, the Annual Return for the financial year 2023-24, is placed on the Companys website.

AUDITORS & AUDITORS REPORT

Statutory Auditors- M/s Suresh Chandra & Associates (Firm registration number: 001359N) were re-appointed as Statutory Auditors of your Company at the 38th Annual General Meeting held on 30th September, 2023, for a term of five consecutive years, who shall hold office from the conclusion of the 38th Annual General Meeting till the conclusion of the 43rd Annual General Meeting.

The Independent Auditors Report given by the Auditors on the financial statement of your Company forms part of this Annual Report. There has been no qualification, reservation, adverse remark or disclaimer given by the Auditors in their Report.

Secretarial Auditors- Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors of your Company at its meeting held on August 10, 2023 had appointed M/s Akash Verma & Associates, Practicing Company Secretaries to undertake the Secretarial Audit of the Company for the Financial Year 2023-24.

The Secretarial Audit Report is annexed herewith as Annexure III

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

Your Company complies with the applicable Secretarial Standards issued by the Institute of Company Secretaries of India and notified by the Ministry of Corporate Affairs.

Cost Auditors- In terms of the Section 148 of the Act read with Companies (Cost Records and Audit) Rules, 2014, your Company is required to maintain cost accounting records and get them audited every year from Cost Auditor and accordingly such accounts and records are maintained by your Company.

The Board of Directors appointed M/s Neeraj Sharma & Co., Cost Accountants, as Cost Auditors to audit the cost accounts of your Company for the Financial Year 2023-24 at its meeting held on August 10, 2023. The Cost Audit Report for the FY 2023-24 will be filed by the Company with the Ministry of Corporate Affairs, in due course.

Internal Auditors- Pursuant to the provisions of Section 138 of the Act and the Companies (Accounts) Rules, 2014, the Board of Directors of your Company at its meeting held on February 13, 2024 had appointed Mr. Ashutosh Dubey, Chartered Accountant to undertake the Internal Audit of the Company for the Financial Year 2023-24.

The Company follows a robust Internal Audit process and audits are conducted on a regular basis, throughout the year.

SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES

Your Company has an Associate Company named Calcom Taehwa Techno Private Limited. Calcom Taehwa Techno Private Limited is a Joint venture of your Company wherein 50% of the shareholding is held by your Company and remaining 50% of the shareholding is held by Taehwa Enterprises India Limited. It is engaged in the business of manufacturing of Brush Less Direct Current (“BLDC”) Fans.

Besides that, Your Company has incorporated a Subsidiary on February 28, 2024 named Calcom Kadapa Private Limited wherein 99.9% of the shareholding is held by your Company and remaining 0.1% of the shareholding is held by Mr. Abhishek Malik (Whole Time Director of Your Company).

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO

As required under section 134(3)(m) of the Companies Act, 2013, read with Rule 8 of the Companies (Accounts) Rules, 2014, the relevant data pertaining to conservation of energy, technology absorption and foreign exchange earnings and outgo is given in the prescribed format as Annexure I to this Report.

HUMAN RESOURCES

We differentiate ourselves through our people-centric approach and inculcate a culture of transparency, inclusion, collaboration and excellence, Our policies and practices are aimed at providing a conducive work environment to meet the aspirations of our people, while ensuring their safety and well-being.

As at March 31, 2024 the total number of employees working with the company stood at 1062. Your Company is committed and continuously putting efforts to strengthen its workforce to meet the companys strategic objectives.

Health and safety

We have always strived to maintain the health and safety of our employees and workers, making it an utmost priority for the organisation. We have undertaken several initiatives to prevent and reduce injuries at our plants, and ensuring safety for all.

Raising safety awareness

Targeted safety placards, posters and signboards are placed at strategic locations, to raise awareness and to reinforce that safety is everyones responsibility.

Talent development, engagement and retention

We carry out continuous employee training to upgrade skills and equip our people with the latest technologies in the market. We regularly engage with our employees, with a special focus on ensuring their well-being and retention.

We conducted training sessions for the skill development of our employees.

These sessions included trainings on functional/behavioural and technical topics, in close coordination with our in-house experts. Knowledge-sharing sessions on innovative technologies were also conducted.

Since 2019, we grant ESOPs to the employees as Wealth Creation Plan. We feel such initiatives will strengthen our employees engagement and ownership within the organisation, syncing their career and life goals, with that of the organisations.

Diversity and inclusion

Calcom is an equal opportunity employer. We have gender neutral remuneration policies. The ratio of basic salary and remuneration of women to men is 1:1. 100% of our employees are evaluated based on their qualification and performance.

We are able to attract and retain young talent through a combination of youth-friendly policies and constant engagement with the leadership team.

PARTICULARS OF EMPLOYEES

Information in accordance with the provisions of Section 134(3)(q) and Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, regarding employees is given in Annexure IV.

Disclosures under Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act 2013 Read with Rules

Your Company has always believed in providing a safe and harassment free workplace for every women employee working with your Company. Your Company always endeavours to create and provide an environment that is free from discrimination and harassment including sexual harassment.

Your Company has a zero tolerance for sexual harassment at workplace and, therefore, has in place a policy on prevention of sexual harassment at workplace. The said policy is in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules thereunder.

The policy aims at prevention of harassment of women employees and lays down the guidelines for identification, reporting and prevention of sexual harassment.

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

a. No. of complaints received: 0 b. No. of complaints disposed of: NA c. No. of complaints pending: 0

Also, the Company had organised training programmes, from time to time, for its employees and staff. The said training programmes and workshop were helpful in creating necessary awareness and to encourage cooperative environment in the organisation.

COMPLIANCE WITH SECRETARIAL STANDARDS

During the year under review, your Company has complied with the provisions of Secretarial Standards issued by the Institute of Company Secretaries of India (“ICSI”) in consultation with Central Government which are mandatory to be complied with by the Company.

LISTING

The equity shares of your Company are listed on BSE Ltd. Your Company has paid the Listing fee for Equity Shares to the BSE for F.Y. 2023-24 and F.Y. 2024-25.

CODE OF CONDUCT

In Compliance with the Listing Regulations and Companies Act, 2013, the Company has framed and adopted a Code of Conduct and Ethics (“the Code”). The Code is applicable to the members of the Board, the executive officers and all employees of the Company. The Code is available on the website, at http://www.calcomindia.com

All members of the Board, the executive officers and senior officers have affirmed compliance to the Code as on March 31, 2024. The confirmation from the CEO & MD of the Company regarding compliance with the Code of Conduct by all the Directors and Senior Management is annexed as Annexure VII and forms part of this Report.

PREVENTION OF INSIDER TRADING

Pursuant to the requirements of the SEBI (Prohibition of Insider Trading) Regulations, 2015 as amended, the Company has adopted a Code of Conduct to Regulate, Monitor, and Report Trading by Insiders for the prevention of insider trading, which is applicable to all the Directors, Promoters, Key Managerial Personnel and designated employees/persons.

CORPORATE GOVERNANCE

Maintaining high standards of Corporate Governance has been fundamental to the business of the Company since its inception. As per Regulation 34(3) read with Schedule V of the SEBI Listing Regulations, a separate section on corporate governance practices followed by the Company, together with the following declarations/certifications forms an integral part of this Corporate Governance Reporting:

a. A declaration signed by Mr. Sushil Kumar Malik, Chairman and Managing Director, stating that the members of board of directors and senior management personnel have affirmed compliance with the Companys Code of Business

Conduct and Ethics;

b. A compliance certificate from the Companys Secretarial

Auditor confirming compliance with the conditions of Corporate Governance;

c. A certificate of Non-Disqualification of Directors from the Secretarial Auditor of the Company; and

d. A certificate of the CFO of the Company, confirming the correctness of the financial statements and cash flow statements, adequacy of the internal control measures and reporting of matters to the Audit Committee.

DIRECTORS RESPONSIBILITY STATEMENT

In terms of Section 134 (5) of the Companies Act, 2013, the directors would like to state that:

i) In the preparation of the annual accounts, the applicable Indian accounting standards (Ind AS) have been followed.

ii) The directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 or loss of the Company for the year under review.

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 on a going concern basis.

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

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

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

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

Also, there had been no application filed for Corporate insolvency resolution process under “The Insolvency and Bankruptcy Code, 2016”, by a Financial or operational creditor or by your Company itself during the period under review.

MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END OF FINANCIAL YEAR AND DATE OF THE REPORT

There have been no material changes and commitments, which affect the financial position of the company, that have occurred between the end of the financial year to which the financial statement relates and the date of report.

ACKNOWLEDGEMENT

Your Directors would like to place on record their appreciation of the contribution made by its management and its employees who through their competence and commitment have enabled the Company to achieve impressive growth. Your Directors acknowledge with thanks the co-operation and assistance received from various agencies of the Central and State Governments, Financial Institutions and Banks, Shareholders and all other business associates.

	For and on Behalf of the Board of Director
	S.K. MALIK
Date: August 14, 2024	Chairman & Managing Director
Place: Greater Noida	DIN: 00085715