Clara Industries Ltd Directors Report

Dear Shareholders,

The Board of Directors ("the Board") of Clara Industries Limited ("the Company") is pleased to present the Fourth Annual Report, along with the audited financial statements for the financial year ended March 51, 2026.

SUMMARY OF FINANCIAL RESULTS

For FY 2025-26, the Company recorded total income of Rs.1,455.65 lakhs, with revenue from operations of ?1,400.27 lakhs. Profit Before Tax stood at ?240.61 lakhs, while Profit After Tax was ?180.05 lakhs. As at March 51, 2026, total assets stood at ?6,276.81 lakhs, compared with ?4,495.99 lakhs as at March 51, 2025.

Below is the detailed financial statement:

Particulars	Year to date figures as on 31.03.2026	% of total income	Year to date figures as on 31.03.2025	% of total income
Income from Operations
l. Revenue from Operations	1400.27	97.67%	1077.89	97.65%
II. Other Income	33.36	2.33%	25.89	2.35%
III. Total Income from Operations (Net)	1433.63	100.00%	1103.78	100.00%
IV. Expenses
Cost of Material Consumed	1700.21	118.59%	873.99	79.18%
Changes in Inventories	-675.09	-47.09%	-130.15	-11.79%
Employees Benefits Expenses	48.63	3.39%	7.35	0.67%
Finance Costs	10.30	0.72%	17.17	1.56%
Depreciation & Amortization Expenses	64.73	4.52%	25.34	2.30%
Other Expences	44.24	3.09%	27.11	2.46%
Total Expenses(IV)	1193.02	83.22%	820.81	74.36%
V. Profit before exceptional items and tax (lll-IV)	240.61	16.78%	282.97	25.64%
VI, Exceptional Items (Net Gain/Loss)	-	-	-	-
VII. Profit before tax (V-VI)	240.61	16.78%	282.97	25.64%
X. Tax Expenses
Current Tax	60.13	4.19%	67.48	6.11%
Earlier years Tax	0.00	0.00%	22.72	2.06%
Deferred Tax	0.43	0.03%	3.74	0.34%
Tax Expenses for the Year	60.56	4.22%	93.94	8.51%
XI. Profit (Loss) for the period from continuing operations (IX-X)	180.05	12.56%	189.03	17.13%

During the financial year 2025-26, Clara Industries Limited recorded total income of fl,455.65 lakhs as compared to fl,105.78 lakhs in the previous year. Revenue from operations stood at ?1,400.27 lakhs as against ?1,077.89 lakhs in FY 2024-25. Profit Before Tax was ?240.61 lakhs as compared to ?282.97 lakhs in the previous year, while Net Profit After Tax amounted to f180.05 lakhs as against f189.05 lakhs in FY 2024-25.

During the year under review, the Company continued its operations with a focus on maintaining profitability and strengthening its financial position. Total assets increased to ?6,276.81 lakhs from ?4,495.99 lakhs in the previous year. Current assets stood at ?4,206.81 lakhs, including inventories of ?1,714.59 lakhs and trade receivables of ?1,058.59 lakhs. Non- current assets stood at ?2,070.00 lakhs.

The Company continued to focus on its business operations and financial stability during the year. The audited financial statements reflect continued investment in property, plant and equipment, with tangible assets increasing to ?871.00 lakhs as at March 51, 2026 from ?725.46 lakhs in the previous year.

The management remains focused on improving operational efficiency, strengthening working capital management and pursuing sustainable growth opportunities in the coming financial year.

COMPANYS WEBSITE

The official website of your Company, www.clara.co.in. serves as a comprehensive information hub, reflecting Clara Industries business operations and commitment to transparency. The homepage provides an overview of our core business segments, product portfolio, and value-driven solutions.

The website also hosts an extensive repository of investor-related information, including annual financial results, shareholding patterns, details of the Board of Directors and senior management, committee compositions, corporate policies, and governance frameworks. In addition, it features updates on the Companys key initiatives, strategic developments, and sustainability practices.

All disclosures mandated under the Companies Act, 2015 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are promptly uploaded to ensure compliance and enable stakeholders to access accurate and timely information.

CAPITAL STRUCTURE

During the financial year 2025-26, the Company continued to strengthen its capital base. The Issued, Subscribed and Paid-up Equity Share Capital increased from ?20.67 crore, comprising 2,06,72,900 equity shares of Rs.10/- each, as at March 51, 2025 to ?25.67 crore, comprising 2,56,72,900 equity shares of Rs.10/- each, as at March 51, 2026. The increase in paid-up equity share capital during the year amounted to f 5.00 crore. .

Further, during the year under review, the Company received ?5.59 crore towards Money Received Against Share Warrants, which remained outstanding as at March 51, 2026.

Accordingly, as on March 51, 2026, the Issued, Subscribed and Paid-up Share Capital of the Company stood at ?25,67,29,000/-, divided into 2,56,72,900 equity shares of Rs.10/- each.

BOARD OF DIRECTORS

The Board of Directors of Clara Industries Limited comprises highly accomplished professionals with diverse expertise and extensive industry experience, contributing effectively to the Companys strategic growth and governance framework. The composition of the Board is fully compliant with the provisions of the Companies Act, 2015, Regulation 17 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Companys Articles of Association, and other applicable laws, while adhering to best governance practices.

The Board is structured to ensure balance and independence in decision-making. As at March 51, 2026, the Board comprised five Directors: one Managing Director, one Executive Director, one Non-Executive Director and two Independent Directors.

At Clara Industries, we believe that a well-diversified and competent Board fosters a culture of responsible leadership, providing long-term vision, strategic guidance, and robust governance standards. The Board plays an active role in evaluating the Companys strategic direction, overseeing management policies, and ensuring their effective implementation. All actions and decisions of the Board remain aligned with the Companys mission, values, and stakeholder interests.

COMPOSITION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

During the year under review, there was no change in the composition of the Board of Directors.

Ms. Pooja continued to act as the Company Secretary and Compliance Officer of the Company during FY 2025-26.

Further, none of the Directors are disqualified from being appointed or re-appointed as Directors of the Company in terms of the provisions of Section 164 of the Companies Act, 2015.

As on the date of this Report, the Board of Clara Industries Limited comprises five (5) Directors, including one Woman Managing Director, one Executive Director, one Non- Executive Director and two Independent Directors.

Managing Director: Ms. Parry Kukreja Executive Director: Mr. Nikhil Kukreja Non-Executive Director: Ms. Priyanka Mediratta

Independent Directors: Mr. Avdesh Kumar Kamboj and Mr. Man Mohan Singh

CHANGE IN NATURE OF BUSINESS

During the financial year ended March 51, 2026, there were no changes in the nature of the Companys business activities. The operations continued to align with the core objectives and strategic direction established by the Board, ensuring stability and consistency in our business model.

ANNUAL RETURN

In compliance with Section 92 and Section 154 of the Companies Act, 2015, read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return of the Company in Form MGT-7 is available on the Companys website at www.clara.co.in.

GENERAL RESERVES

In accordance with applicable Accounting Standards, the Profit After Tax has been retained under the Reserve & Surplus section. Accordingly, no amount has been transferred to the General Reserve during the financial year.

BOARD EVALUATION

The Board of Directors conducted its annual performance evaluation in accordance with the provisions of the Companies Act, 2015. This comprehensive evaluation covered the performance of the Board as a whole, its various Committees, and individual Directors. Inputs were sought from all Directors based on defined criteria, including the Boards composition and structure, the effectiveness of its processes, quality of information shared, and overall functioning.

Based on the feedback and analysis, the Board concluded that its performance during the year was effective and aligned with the evaluation framework, supporting the Companys growth-oriented objectives. The Committees were also found to be functioning independently and efficiently, fulfilling their roles as mandated under the Act.

Furthermore, each Director discharged their duties and responsibilities diligently, as prescribed under the Companies Act, 2015, and contributed meaningfully through their experience, knowledge, and strategic insights in navigating both opportunities and challenges faced by the Company during the year.

PABTICULABS OF BEMUNEBATION OF DIBECTOBS AND OTHER EMPLOYEES

None of the employees of the Company received remuneration in excess of the limits prescribed under Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 during the financial year.

PUBLIC DEPOSITS

During the year under review, the Company has not invited or accepted any fixed deposits from the public in accordance with the provisions of Section 75 of the Companies Act, 2015 read with the Companies (Acceptance of Deposits) Rules, 2014. Accordingly, the said provisions are not applicable to the Company.

DIVIDEND

During the financial year 2025-26, no dividend was declared or paid. The Board does not recommend any dividend for the financial year ended March 51, 2026

The applicability of the Dividend Distribution Policy requirements should be confirmed based on the Companys status and applicable SEBI regulations for FY 2025-26.

DECLARATION FROM INDEPENDENT DIRECTORS ON ANNUAL BASIS

Pursuant to Section 154(5)(d) of the Companies Act, 2015, the Company confirms that it has received necessary declarations from all Independent Directors under Section 149(7) of the Act, affirming that they meet the criteria of independence as laid down in Section 149(6) of the Act and Regulation 16(l)(b) of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015 ("SEBI Listing Regulations").

Each Independent Director has submitted a declaration confirming that:

• They continue to fulfill the criteria of independence as specified under Section 149(6) of the Act, read with Schedule IV, and Regulation 16(l)(b) of the SEBI Listing Regulations;

• They are not aware of any circumstances that exist or are anticipated which could impair or impact their ability to discharge duties effectively, as required under Regulation 25(8) of the SEBI Listing Regulations;

• They are not debarred from holding the office of Director pursuant to any SEBI order or the order of any other such authority; and

• There has been no change in circumstances that may affect their status as Independent Directors.

Additionally, all Independent Directors have affirmed compliance with the Code of Conduct prescribed for Independent Directors under Schedule IV of the Act. The Board is of the opinion that all Independent Directors possess the requisite qualifications, expertise, integrity, and proficiency as required under applicable laws and continue to be independent of the management.

SEPARATE MEETING OF INDEPENDENT DIRECTOR

In accordance with Section 149(7) of the Companies Act, 2015 and Para Vll(l) of Schedule IV to the Act, a separate meeting of the Independent Directors was held during FY 2025- 26. The exact date should be inserted from the minutes of the Independent Directors meeting.

During the meeting, the Independent Directors, inter alia, reviewed and discussed the following:

• Performance of the Non-Independent Directors and the overall functioning of the Board

• Performance of the Chairman of the Company, taking into account the views of both Executive and Non-Executive Directors; and

• The quality, quantity, and timeliness of the flow of information between the management and the Board, which is essential for the Board to discharge its functions effectively.;

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTY TRANSACTIONS

Particulars of related party transactions for the financial year 2025-26 shall be disclosed in Form AOC-2, as applicable, based on the final related party transaction records and the audited financial statements.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

Particulars of loans, guarantees and investments for the financial year ended March 51, 2026 shall be disclosed, as applicable, based on the Companys statutory records and the relevant provisions of the Companies Act, 2015.

SUBSIDIARY, JOINT VENTURE AND ASSOCIATE COMPANIES

During the year under review, the Company did not have any subsidiary, joint venture, or associate company as defined under the Companies Act, 2015.

CORPORATE SOCIAL RESPONSIBILITY

The provisions of Section 155 of the Companies Act, 2015 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 concerning Corporate Social Responsibility (CSR) were not applicable to the Company for the financial year ended March 51, 2026, as the Company did not fulfill the threshold criteria prescribed under Section 155(1) of the Act regarding net worth, turnover, or net profit.

Consequently, the Company was not required to constitute a Corporate Social Responsibility Committee, formulate a CSR Policy, or allocate funds towards CSR initiatives for the financial year 2025-26.

CORPORATE GOVERNANCE

The Company, being listed on the Small and Medium Enterprise (SME) Platform, is exempt from the provisions of Corporate Governance as stipulated under Regulation 15 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Accordingly, no Corporate Governance Report is provided in this Annual Report. Nevertheless, the Company voluntarily adheres to the majority of the prescribed corporate governance practices.

TRANSFER TO RESERVES

In accordance with applicable Accounting Standards, the Profit After Tax has been retained under the Reserves & Surplus section. Accordingly, no amount has been transferred to the General Reserve during the financial year.

CREDIT RATING

During the year under review, the Company did not have any outstanding instruments requiring a credit rating.

BOARD MEETINGS

During the year under review, the Board of the Company convened meetings on May 01, 2025, May 21, 2025, July 16, 2025, July 21, 2025, July 25, 2025, September 6, 2025 November 14, 2025, January 19, 2026, February 21, 2026 and March 25, 2026 respectively. The interval between any two consecutive meetings did not exceed the statutory limit of one hundred and twenty days.

DIRECTOR S ATTENDANCE RECORD

During the financial year 2025-26, the Board of Directors of the Company convened ten (10) meetings on May 01, 2025, May 21, 2025, July 16, 2025, July 21, 2025, July 25, 2025, September 6, 2025 November 14, 2025, January 19, 2026, February 21, 2026 and March 25, 2026 respectively. The requisite quorum was present at all the meetings. All the Directors attended all ten meetings, and the attendance details are as follows:

Name of Directors	Number of Board Meetings Attended During The Year	Whether Attended Last Annual General Meeting
Mr. Nikhil Kukreja	10 out of 10	Yes
Ms. Parry Kukreja	10 out of 10	Yes
Ms. Priyanka Mediratta	7 out of 10	Yes
Mr. Avdesh Kumar Kamboj	10 out of 10	Yes
Mr. Man Mohan Singh	10 out of 10	Yes

Accordingly, all the Directors recorded 100% attendance at the Board Meetings held during the financial year 2025-26.

BOARD COMMITTEES

In accordance with SEBI (Listing Obligations and Disclosure Requirements), 2015, provisions on Corporate Governance the Board of Directors of the Company had constituted following Committees. The details are as under:

1. Audit Committee

2. Nomination & Remuneration Committee

5.Shareholders & Investors Grievance Committee

4. Internal Complaint Committee

5. Corporate Social Responsibility (CSR) Committee

The composition of various committees are as follows:

AUDIT COMMITTEE

The terms of reference of the Audit Committee are as per the guidelines set out in the Regulation 18 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 with the stock exchanges read with Section 177 of the Companies Act, 2015. The detail of the Committee is as follows:

Members	DIN and Membership No.	Designation
Mr. Avdesh Kumar Kamboj	09526564	Chairman
Mr. Man Mohan Singh	07790507	Member
Mr. Nikhil Kukreja	06649587	Member

NOMINATION AND REMUNERATION COMMITTEE

The Board of Directors of the Company has constituted a Nomination & Remuneration Committee, as per the provisions of Section 178 of the Companies Act, 2015 and Regulation 19 of SEBI (Listing Obligations and Disclosure Requirements), Regulation 2015, with the object of Remuneration & Nomination Committee is to recommend / review the remuneration of Managing Directors / Wholetime Directors. The remuneration policy of the Company is directed towards rewarding performance and attracting new talents / retaining them. While deciding the remuneration, the Committee considers the financial position of the Company, trend in the Industry, Appointees qualification, experience, past performance, past remuneration etc.

Members	DIN and Membership No.	Designation
Mr. Man Mohan Singh	09526564	Chairman
Mr. Avdesh Kumar Kamboj	07790507	Member
Ms. Priyanka Mediratta	00494156	Member

STAKEHOLDERS RELATIONSHIP AND INVESTORS GRIEVANCE COMMITTEE

The Committee is in charge of looking after grievances of Investors and Shareholders. The details of the committee is as follows:

Members	DIN and Membership No.	Designation
Mr. Avdesh Kumar Kamboj	09526564	Chairman
Mr. Man Mohan Singh	07790507	Member
Mr. Nikhil Kukreja	06649587	Member

INTERNAL COMPLAINT COMMITTEE

The Committee is in charge of looking after grievances of internal complaints of the company. The details of the Committee is as follows:

; Members	Designation
; Ms. Parry Kukreja	Chairman
; Ms. Pooja	Member
i Mr. Rakesh Kumar Pal	Member
; Mr. Vidya Bhushan Tyagi	Member

CORPORATE SOCIAL RESPONSIBILITY (CSR) COMMITTEE

The Committee is in charge of looking after all the CSR activities of the company. The details of the Committee is as follows:

Members	DIN and Membership No.	Designation
Mr. Avdesh Kumar Kamboj	09526564	Chairman
Ms. Parry Kukreja	06649401	Member
Mr. Man Mohan Singh	06649587	Member

STATUTORY AUDITORS

Pursuant to the provisions of Section 159 and other applicable provisions of the Companies Act, 2015 read with the rules made thereunder, M/s. Jay Gupta and Associates, Chartered Accountants (Firm Registration No. 529001E), were appointed as the Statutory Auditors of the Company.

As their current tenure completes at the ensuing Annual General Meeting ("AGM"), the Board of Directors, based on the recommendation of the Audit Committee, recommends the re-appointment of M/s. Jay Gupta and Associates, Chartered Accountants (FRN: 529001E), as Statutory Auditors of the Company for a second term of 5 (five) consecutive financial years, to hold office from the conclusion of the ensuing AGM until the conclusion of the AGM to be held in the calendar year 2051 (covering the financial years 2026-27 to 2050- 51), at such remuneration as may be determined by the Board of Directors in consultation with the Auditors.

SECRETARIAL AUDITORS

The Secretarial Audit Report issued by M/s. Verma Ashish & Company in Form MR-5 for the financial year ended March 51, 2026, forms an integral part of this Boards Report and is annexed herewith as [Annexure-A].

The Secretarial Audit Report is self-explanatory and does not contain any qualification, reservation, adverse remark, or disclaimer for the financial year under review.

MAINTENANCE OF COST RECORDS

The maintenance of cost records as prescribed by the Central Government under Section 148(1) of the Companies Act, 2015 is not applicable to the Company, as its business activities do not fall within the categories specified under the said provisions.

REPORT ON FRAUDS U/S143 (12) OF THE COMPANIES ACT, 2013

During the year under review, the Statutory Auditors and the Secretarial Auditor have not reported any instances of fraud committed in the Company by its officers or employees to the Audit Committee under Section 145(12) of the Act. Accordingly, no disclosure is required under Section 154(5)(ca) of the Act.

MATERIAL CHANGES AND COMMITMENTS AFTER THE END OF FINANCIAL YEAR

Except as disclosed elsewhere in this Annual Report, there have been no material changes or commitments affecting the financial position of the Company between March 51, 2026 and the date of signing of this Report.

CONSERVATION OF ENERGY, TECHNOLOGY ADSORPTION AND FOREIGN EXCHANGE

The particulars relating to conservation of energy, technology absorption and foreign exchange for FY 2025-26 shall be provided based on the Companys operational records, as applicable.

INVESTOR EDUCATION AND PROTECTION FUND CIEPF1

The applicability of the provisions relating to the Investor Education and Protection Fund for FY 2025-26 shall be confirmed from the Companys statutory records and share transfer/dividend records.

SIGNIFICANT AND MATERIAL ORDERS PASSED DY REGULATORS OR COURTS

No significant or material orders passed by regulators, courts or tribunals during FY 2025- 26 have been identified from the records shared for preparation of this Report.

BISK MANAGEMENT

The Company has formulated and implemented a Risk Management Policy to identify the risks associated with its business and to outline measures for their mitigation. A structured framework is in place for risk management, which includes the identification, analysis, and assessment of potential risks, evaluation of their probable impact, and formulation as well as implementation of appropriate mitigation strategies. While it is not possible to eliminate all business risks entirely, the Company endeavours to minimize their impact on its operations to the extent feasible.

The Company is not mandatorily required to constitute a Risk Management Committee. However, the Board of Directors and the Audit Committee periodically review and evaluate the effectiveness of the Companys risk management system.

INTERNAL CONTROL SYSTEMS INCLUDING INTERNAL FINANCIAL CONTROLS

The Company has established an adequate internal control system, commensurate with the size, scale, and complexity of its operations. These controls are designed to provide reasonable assurance regarding the accuracy and reliability of financial and operational information, compliance with applicable laws and regulations, safeguarding of assets against unauthorized use, execution of transactions with proper authorization, and adherence to corporate policies. During the year under review, no material weaknesses or significant observations were reported with respect to the adequacy or effectiveness of such internal controls.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

As required under Regulation 54 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Management Discussion and Analysis Report forms a separate section of this Annual Report. It provides detailed insights into the industry structure and developments, financial and operational performance, and other material developments during the financial year under review.

VIGIL MECHANISM / WHISTLE RLOWER POLICY

In accordance with Section 177(9) of the Companies Act, 2015 and Regulation 22 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has adopted a Whistle Blower Policy as part of its vigil mechanism. The policy provides a secure avenue for Directors and employees to report concerns regarding any actual or suspected violation of the Companys code of conduct, business principles, or applicable laws.

The vigil mechanism ensures adequate safeguards against victimization of individuals who raise concerns and also provides for direct access to the Chairperson of the Audit Committee in exceptional circumstances. The Company Secretary has been designated as the officer responsible for the effective implementation of the policy and for addressing complaints received under it.

The vigil mechanism/whistle blower complaints position for FY 2025-26 shall be confirmed from the Companys records before finalisation of this Report.

CODE OF CONDUCT

The Company has adopted a Code of Conduct pursuant to Regulation 9 of the SEBI (Prohibition of Insider Trading) Regulations, 2015, to regulate, monitor, and report trading by Designated Persons. The Code is aimed at preventing the misuse of Unpublished Price Sensitive Information ("UPSI") by Designated Persons and their immediate relatives.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 154(5) of the Companies Act, 2015, the Directors confirm that:

• in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanations relating to material departures,

• if any; the Directors have selected appropriate accounting policies and applied them consistently. They have also made judgements 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 or loss of the Company for that period;

• the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2015, forsafeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

• the Directors have prepared the annual accounts on a going concern basis; the Directors have laid down internal financial controls to be followed by the Company, and such controls are adequate and operating effectively; and

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

PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

The Company is committed to providing a safe, respectful, and conducive work environment for all its employees and associates. In accordance with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2015, the Company has duly constituted an Internal Committee to address complaints, if any.

During the financial year under review, no complaints were received under the said Act.

COMPLIANCE WITH SECRETARIAL STANDARDS

During the financial year 2025-26, the Companys compliance with the applicable Secretarial Standards on Board Meetings (SS-1) and General Meetings (SS-2) should be confirmed by reference to the statutory records and Secretarial Audit.

ANY PROCEEDINGS UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016

There were no proceedings under the Insolvency and Bankruptcy Code, 2016 against the Company during FY 2025-26, based on the records shared for preparation of this Report.

HUMAN RESOURCE MANAGEMENT

The Management of Clara Industries Limited recognizes that its workforce is the most valuable asset and a key driver of the Companys success. With an employee-centric approach, the Company is committed to providing a secure, inclusive, and stimulating workplace that enhances productivity and fosters professional growth.

The Company continually invests in its employees by upgrading skills, refining expertise, and nurturing leadership abilities through relevant learning and development programs. Diversity within the workforce is valued, and the Company strives to leverage it as a strength to enhance corporate capabilities.

Management actively promotes teamwork and a self-motivated work culture that encourages comprehensive employee development. To reinforce its human capital and attract, nurture, and retain exceptional talent, Clara Industries Limited has established robust human resource policies designed to foster a positive and growth-oriented work environment.

CAUTIONARY STATEMENT

This Report contains forward-looking statements relating to the Companys objectives, projections, and expectations, which may differ materially from actual results due to economic conditions, market fluctuations, and changes in Government policies or regulations. The Company assumes no obligation to update or revise such statements in light of future developments.

ACKNOWLEDGEMENT

Your Directors express their sincere gratitude to the Ministry of Corporate Affairs and other Central and State Government authorities for their guidance and support. The Board also places on record its deep appreciation for the dedicated efforts of the Companys employees at all levels, whose commitment has been integral to the Companys performance and growth. Further, your Directors thank the Companys clients, vendors, bankers, and advisors for their continued trust and support.

In conclusion, your Directors thank the members of the Company for their continued support and confidence, and look forward to your ongoing patronage in achieving greater success.