Coral India Finance & Housing Ltd Directors Report

Dear The Board of Directors are pleased to present the 30th Annual Report of the Company along with the audited financialMember(s), statements of the Company for the financial year ended March 31, 2024.

The Companys financial performance for the year ended March 31, 2024 is summarized below: 1. Financial Summary and Highlights:

Particulars	STANDALONE		YoY growth
Revenue from Operations including Other Income	2023-24 3057.15	2022-23 3065.41	(%)(0.27)
Profit before Interest, Depreciation and Taxes	2366.53	2240.91	5.61
Less:
a. Finance Cost	0.25	0.20
b. Depreciation	8.40	8.87
c. Provision for Taxation (including Deferred Tax)	281.14	399.83
Total Comprehensive Income/Loss (II) Net Profit for the Year (I)	2076. 3516.74	1832.01 876.77	301.10 13.36
Balance Profits for the earlier years	12620.70	10909.59
Less: Dividend paid on Equity Shares	(120.91)	(120.91)
Balance carried forward	14576.53	12620.70
Earnings Per Share (EPS) (Face Value of 2/- each)	5.15	4.55	13.19
Note: Previous years figures have been regrouped / reclassified wherever necessary in conformity with Indian Accounting Standards )Ind AS( to correspond with the current years classification /
disclosure and may not be comparable with the figures reported earlier.
During the financial year 2023-24: Companys Performance Overview
During the financial year 2023-24, there is a slight reduction in the total income to 3057.15 Lakhs as against 3065.41 Lakhs in the previous year - a marginal decline of (0.27)%.
Employee cost as a percentage to revenue from operations increased to 3.80% ( 105.18 Lakhs) as against 3.31% ( 97.92 Lakhs) in the previous year, an increase of 14.80%.
Other expense as a percentage to revenue from operations increased to 10.26% ( 283.94 Lakhs) as against 8.35% ( 246.70 Lakhs) in the previous year, an increase of 22.87%.
Total Profit after tax for the current year has been increased to 2076.74 Lakhs against 1,832.01 Lakhs in the previous financial year – a growth of 13.36 %.
Total Earning per share for the current year has been increased 5.15 against 4.55 in the previous financial year a growth of 13.19%.

OurLiquidity principal sources of liquidity are cash and cash equivalents,we generate from our operations. We continue to be debt-current investments and the cash flow that operationalfree and maintain sufficient cash to meet our strategic andrequirements. We understand that liquidity adequatein the BalancereturnsSheetand hasthe toneedbalanceto coverbetweenfinancialearningand business requirements.

Liquidityunforeseen strategic and business needs. Our Liquid assetsenables us to be agile and ready for meeting

10434.92 Lakhs as on March 31, 2023. Liquid assets, stand at 14065.16 Lakhs as at March 31, 2024, as against includeinvestments in securities. As a result, risk of cash and cashdeposits with banks, cash & cash equivalent, disclosed under the ‘non-current and current investmentsequivalents is limited. The details of these investments are section in the financial statements in this Annual Report. TheDividend Company has a consistent track record of dividend ofpayment.Directors,Basedat itson meetingCompanysheldperformance,on May 29, the2024Boardhad per equity share of 2 (Rupees Two only) each (20%) recommended a final dividend of 0.40 (Forty paise) outstanding shares 40302225 amounting to 161.21 for the financial year ended March 31, 2024 on the total AnnualLakhs, subject to the approval of Members at the ensuingGeneral Meeting of the Company and payable to Members and Beneficial Owners as on Tuesday, August 20,those Shareholders whose names appear in the Register of 2024. CompaniesThe Company declares and pays dividend in Indian rupees.are required to pay/distribute dividend after remittance of dividends outside India is governed by Indiandeducting applicable withholding income taxes. The tax at applicable rates.law on foreign exchange and is also subject to withholding Act,In view1961,of bythethechangesFinance madeAct, 2020,underdividendthe Income-taxpaid or of the Shareholders. The Company shall, accordingly, makedistributed by the Company shall be taxable in the hands source.the payment of the final dividend after deduction of tax at from its profits for the respective financial year.The aforesaid final dividend is being paid by the Company Details

Loans and Investments of loans, guarantees and investments under theCompaniesprovisions(Meetingsof Sectionof Board186 ofandthe itsActPowers)read withRules,the 10 to the Standalone Financial Statements of the Company.2014 as on March 31, 2024, are set out in Note 4, 6 and There was no guarantee given by the Company for the period under review.

The Board of Directors of your company has decided notTransfer to Reserves review.to transfer any amount to the Reserves for the year under Public Your CompanyDeposithas neither accepted nor renewed any deposit within the meaning of Sections 73 and 74 of theAct read with the Companies (Acceptance of Deposits) enactment(s) thereof for the time being in force). Rules, 2014 (including any statutory modification(s) or re- Share During the year under review, there was no change in theCapital Equity Share Capital of the Company as on March 31, 2024issued and subscribed capital of the Company. The paid-up shares of face value of 2/- each.stands at 80,604,450 divided into 40,302,225 equity a. Confirmations

During the year under review, the Company has not:(i) issuedor anyanyothershares,convertiblewarrants, ordebentures,non-convertiblebonds, securities; (ii) issued equity shares with differential rights as todividend, voting or otherwise; (iii) issued any sweat equity shares to its directors oremployees; (iv) made any change in voting rights; (v) reduced its share capital or bought back shares; (vi) changedrestructuring;the capital structure resulting from (vii)failed to implement any corporate action. b. trading during the year. The Companys securities were not suspended for c. Thedeviationdisclosureor variationpertainingin connectionto explanationwith forcertainany etc. is not applicable to the Company.terms of a public issue, rights issue, preferential issue,

Particulars of Contract/Arrangements with Related

AllParty transactions with related parties were reviewed and with the Policy on dealing with and materiality of Relatedapproved by the Audit Committee and are in accordance formulated and adopted by the Company. Prior omnibusParty Transactions and the Related Party Framework, approvalparty transactionsof the AuditwhichCommitteeare repetitiveis obtainedin nature.for relatedThe transactions entered into pursuant to the omnibus the Audit Committee.approval so granted are reviewed on a quarterly basis by Asbeforea partthe ofbeginningthe Companysof a financialannual year,planningdetailsprocess,of all parties,the transactionsincluding proposedthe estimatedto beamountexecutedof withtransactionsrelated toandbecommercialexecuted, terms,manneretc.ofaredeterminationpresented to ofthepricingAudit ofCommittee for its consideration and approval. The detailssaid transactions are also placed before the Board of in a transaction, does not participate in the discussion ofDirectors for their information. The Director, if interested the item relating to that transaction.

Furthertransaction/modificationapproval is soughttoduringthe thepreviouslyyear for approvedany new islimits/termsfollowed byof acontractsquarterlywithreviewthe ofrelatedthe relatedparties. partyThis transactions by the Audit Committee.

Policy

Related Party Transactions is available on the website ofThe Companys Policy on dealing with and Materiality of the Company at https://coralhousing.in/policies.php

Review

Allapproved by the Audit Committee and were in accordancetransactions with related parties were reviewed and party transactions. with the Policy on dealing with and materiality of related transactionsThere are nothat materiallymay have potentialsignificantconflictrelatedwithpartythe interest of the Company at large.

Thereperson or entity belonging to the Promoter(s)/Promoter(s)were no transactions of the Company with any in the Company. Group which individually holds 10% or more shareholding theAll contracts/arrangements/transactions entered into byCompany during the year under review with related armspartieslengthwere basisin theinordinaryterms ofcoursethe provisionsof businessof theandAct.on into under Section 188(1) of the Act, hence no justificationFurther, there are no contracts or arrangements entered has been separately provided in that regard.

Statutory Disclosure

Accounting Standards (IND AS) - 24 are set out in Note no.The details of the related party transactions as per Indian 41 to the Standalone Financial Statements of the Company. TheRegulationsCompanysubmitsin termson halfof Regulationyearly basis23theof disclosuresthe Listing ofthe format and timeline as specified by SEBI from time torelated party transactions to the stock exchanges, in time. The said disclosures are available on the website of ^{the Company at https://coralhousing.in/compliances.php.}with Rule 8(2) of the Companies (Accounts) Rules, 2014 isForm AOC-2 pursuant to Section 134(3)(h) of the Act read set out in Annexure [1] to this Report.

Management In terms of theDiscussion and provisions of RegulationAnalysis Report 34 of the SEBI Regulations,(Listing Obligations2015 and("ListingDisclosureRegulations"),Requirements)the this Annual Report.Managements discussion and analysis report is set out in Risk Pursuant to Section 134(3) (n) of the Companies Act, 2013,Management RegulationCompany has formulated Risk Management Policy. As per21 of the Listing Obligations and Disclosure requiredRequirementsto constituteRegulations,a risk 2015,managementthe Companycommittee.is notAt which may threaten the existence of the company.present the company has not identified any element of risk TheBoard detailspolicies of the policies approved and adopted by the BoardSecurities and Exchange Board of India (SEBI) regulationsas required under the Companies Act, 2013 and are provided in Annexure [7] to the Boards report. Material There are no material changes and commitments affectingChanges Affecting the Company between the end of the financial year 2023-24 and the datethe financial position of the Company which have occurred business of the Company.of this report. There has been no change in the nature of The2. Business Company description is primarily engaged in two segments viz, andConstruction,related servicesdevelopmentand &Investment maintenance which of propertiesincludes lending and investments in capital market.

Disclosures relating to Subsidiary Company, Associates The Companyand doesJoint notVentures have any subsidiary company, Hence, requirement of consolidated financial statement isassociate company or joint venture as on March 31, 2024. not applicable to the Company. CompaniesFurther, pursuantAct, 2013to provisionsread withof RuleSection5 of129(3)Companiesof the features(Accounts)of Rules,the financial2014, thestatementsstatement ofcontainingthe Companyssalient subsidiary in Form AOC-1 is not required to be attached. Our3. Human employeesresources are ourmanagement most important assets. The

required under the Companies Act, 2013) to the medianof each director and key managerial personnel (KMP) (as 197(12)of employeesof theremuneration,Companies Act,as 2013,requiredreadunderwith SectionRule 5 Managerial Personnel) Rules, 2014, is set out in Annexureof the Companies (Appointment and Remuneration of [2] to this Boards report.

Policy on Prevention of Sexual Harassment at Workplace The Company has formulated a Policy on Prevention of SexualHarassmentatWorkplaceforprevention,prohibition and redressal of sexual harassment at workplace in accordanceWorkplace (Prevention,with the SexualProhibitionHarassmentand Redressal)of WomenAct,at Harassment Act"). As the Company have less than 10 nos.2013 (hereinafter referred to as "Prevention of Sexual ofInternal Complaints Committee.employees, the company is not required to constitute Furthercomplaints filed during the F.Y. 2023-24, disposed duringthe details / disclosure pertaining to number of yearthe F.Y. 2023-24 and pending as on the end of the financiali.e. March 31, 2024 forms part of the Corporate Governance Report.

Health, The safetySafety excellenceand Environment journey is a continuing process of onthe behalfCompany.of yourThe Company,safety of thevisitorspeopleto workingthe premisesfor andof integral part of business. Structured monitoring & reviewthe Company and the communities we operate in, is an There is a strong focus on safety with adequate thrust onand a system of positive compliance reporting are in place. employees safety. Our4. Corporate corporate Governance governance practices are a reflection of andour valuerelationshipssystem withencompassingour stakeholders.our culture,Integritypolicies,and transparencypractices to ensureare keythat towe gainour andcorporateretain thegovernancetrust of ourabout maximizing shareholder value legally, ethically andstakeholders at all times. Corporate governance is sustainably. allThetheCompanystipulationshas takenlaid downadequatein Regulationsteps to adhere17 to 27to andObligations34(3) readand Disclosurewith ScheduleRequirements)V of the SEBIRegulations,(Listing 2015.with the certificate from Mrs. Uma Lodha from M/s UmaA separate report on Corporate Governance along the compliance of Corporate Governance requirements isLodha & Co., Practicing Company Secretaries confirming annexed as Annexure [3] to this report. The Company is regularly complying with Corporate underGovernance practices and also uploading the informationCorporate Filing & Dissemination System (corpfiling).new SEBI compliant redressal system (SCORES) and OnlineYour Company has also been enlisted in the register their complaints, if any, for speedy redressal.Dispute Resolution (ODR) portal enabling the investors to Number During theof the financialMeetings of year 2023-24,Board 4 (four) meetings ofmeetingsthe Boardof theof DirectorsBoard ofwereDirectorsheld. Theof thedetailsCompanyof the theconvened during the financial year 2023-24 are given inCorporate Governance Report which forms part of this Annual Report. Thenot exceed 120 days, as prescribed under the Act and themaximum interval between any two meetings did Listing Regulations. TheNomination NRC Committeeand Remuneration comprises ofPolicy Mrs. Sheela(NRC) Kamdar (Chairperson),Mehta (Member),Mrs. Mr.MeetaNirajShethMehta(Member),(Member)Dr. Sharadand Mr.Mrs. Riya Shah, Company Secretary acts as Secretary to theVinay Mehta (Member - w.e.f. August 02, 2024). NRC Committee. TheCorporatesalientGovernancefeatures ofReportthe Policywhich areformsset partout ofin thisthe Annual Report. Nomination and Remuneration Committee shall formulatethe criteria for appointment of Directors on the Board ofThe said Policy of the Company, inter alia, provides that the positionsthe Companyin theandCompany,persons includingholding Seniortheir remunerationManagement and Regulation 19 of the Listing Regulations.and other matters as provided under Section 178 of the Act During the yearPolicy was amended to,under review, the Nomination and the revised definition of senior management intent of the law in letter and spirit. Remuneration inter to reflect thealia, include at https://coralhousing.in/policies.phpThe Policy is also available on the website of the Company

Appointment and Remuneration of Directors and Key Managerial Personnel and particulars of

The appointments and remuneration paid to the Directorsemployees Policyare in accordance with the Nomination and Remunerationformulated in accordance with Section 178 of the any statutory modification(s) or re-enactment(s) thereofAct and Regulation 19 of the Listing Regulations (including for the time being in force). readThe informationwith Companiesrequired(Appointmentunder Sectionand 197Remunerationof the Act of Managerial Personnel) Rules, 2014 (including any ofthe time being in force) in respect of Directors/employeesthe Company is set out in the Annexure [2] to this reportalso available on the website of the Company at https://and the Nomination and Remuneration Policy is coralhousing.in/policies.php. Declaration from Definition of ‘Independence of Directors is derived fromDirectors Regulation149(6) read16withof theScheduleListingIVRegulationsof the Companiesand SectionAct, 2013. The Company has,confirming that: declarations from all inter the alia Independent, received the followingDirectors 1. ^{they meet the criteria of independence as prescribed}under the provisions of the Act, read with Schedule Regulations.IV and RulesThereissuedhasthereunder,been no andchangethe inListingthe circumstancesDirectors of the Company;affecting their status as Independent 2. theyDirectors prescribed under Schedule IV to the Act;have complied with the Code for Independent 3. ^{in terms of Rule 6(3) of the Companies (Appointment}and Qualification of Directors) Rules, 2014, they haveDirectors database maintained by the Indian Instituteregistered themselves with the Independent qualifiedof Corporatethe onlineAffairsproficiency(IICA), Manesarself-assessmentand havetest termsor are exempted from passing the test as required inof Section 150 of the Act read with Rule 6 of theDirectors) Rules, 2014; Companies (Appointment and Qualifications of 4. ^{in terms of Regulation 25(8) of the Listing Regulations,}they are not aware of any circumstance or situation, whichcould impair or impact their ability to discharge theirexist or may be reasonably anticipated, that In terms of Regulation 25(9) of the Listing Regulations,duties. thethe disclosuresBoard of Directorsmade underhas ensuredRegulationthe25(8)veracityof theof Company.Listing Regulations by the Independent Directors of the being appointed as Directors as specified in Section 164(2)None of the Directors of the Company are disqualified for and Qualification of Directors) Rules, 2014.of the Act and Rule 14(1) of the Companies (Appointment Allhave affirmed compliance with the Code of Conduct formembers of the Board and Senior Management Board2023-24. and Senior Management for the financial year AuditorThe Company had sought a certificate from the Secretarialof the Company confirming that none of the Directorsdebarred oron disqualifiedthe Board fromof thebeingCompanyappointedhaveand/orbeen statutory authority, enclosed as Annexure [C] to Corporatecontinuing as Directors by the SEBI/MCA or any other such Governance Report. Performance The Nomination and Remuneration Policy of the CompanyEvaluation or Board of Directors to formulate a process for evaluatingempowers the Nomination and Remuneration Committee theCommittees of the Board and the Board as a whole.performance of Individual Directors, Chairman, The parameters for the performancefunctioning evaluation of the Board,together the improvements areas, if any etc.contribution of individual directors therein and suggestinginter alia, include of the entire Board DirectorsThe parametersincludeforattendance,the performanceeffectiveevaluationparticipationof thein etc.meetings of the Board, domain knowledge, vision, strategy, onThefeedbackChairperson(s)receivedof fromthe respectivethe CommitteeCommitteesmembersbasedon theCommittee, shares a report to the Board.outcome of performance evaluation exercise of the reviewThe Independentthe performanceDirectorsof atnon-independenttheir separate directorsmeeting andafter considering the views of Executive Director and Non- the Board as a whole, Chairperson of the Company flowExecutive directors, the quality, quantity and timeliness ofof information between the Company management and reasonably perform their duties.and the Board that is necessary for the Board to effectively exercise,Based on areasthe outcomehave beenof identifiedthe performancefor the evaluationBoard to Theengagedetailsitselfofwiththe evaluationand the sameprocesswouldarebesetactedout inupon.the Annual Report.Corporate Governance Report which forms a part of this AllFamiliarization Independent Program Directors for areIndependent familiarised Directors with the their appointment and on an ongoing basis. The details ofoperations and functioning of the Company at the time of in the Corporate Governance Report and is also availablethe training and familiarisation programme are provided policies.php on the website of the Company at https://coralhousing.in/

Directors and Key Managerial Personnel

Board of Directors I. Change in Directorate a. Duringtheyear,atthe29thAnnualGeneralMeeting (AGM) held on July 21, 2023, the shareholders of i) appointmentRetirement by rotation and subsequent re- In accordance with the provisions of Section152 and other applicable provisions, if any, of andtheActreadwiththeCompanies(Appointment Qualification of Directors) Rules, 2014 (includingre-enactment(s) thereof for the time being inany statutory modification(s) or Company,force) and atthetheArticles29th AGMof Associationheld on Julyof the21, and2023, Mr. Kishor Mehta, Whole-time DirectorChief Financial Officer of the Company by rotation.has been re-appointed pursuant to retirement b. After the end of the year and up to the date of

(i)the Report Appointment of Non-Executive Independent Director of the Company The Board of Directors at their meeting heldon August 02, 2024, subject to approval of the ofshareholders, had approved the appointmentMr. Vinay Mehta as the Non-Executive periodIndependentof 5 (five)Directoryearsof thecommencingCompany forfroma Augustliable to retire by rotation.02, 2024 till August 01, 2029, not Appropriateof Mr. Vinay resolutionMehta as thefor Non-Executiveappointment placed for the approval of the shareholders ofIndependent Director of the Company is being Directors and the Nomination & Remunerationthe Company at the ensuing AGM. The Board of hisCommitteeappointmentof the asCompanythe Non-Executiverecommends withIndependent Director of the Company. Detailsrespect to his experience, attributes, skills,directors inter-se, directorships held in otherdisclosure of relationship between etc., as stipulated under Regulation 36 of thecompanies and committee memberships, on General Meetings issued by ICSI, have beenListing Regulations and Secretarial Standard disclosedthe AGM. in the Annexure-I to the Notice of ^{In the opinion of the Board of Directors, Mr.}Vinay Mehta brings on board the required proficiency which will add tremendous valueexperience, integrity, expertise, and relevant to the Board in exercising their role effectively. Theeligibility confirmations under the provisionsrequisite consent, declarations and fromof the Act and SEBI Regulations were receivedMr. Vinay Mehta for considering his appointment as an Independent Directors. ^{The brief profile of Mr. Vinay Mehta is given in}Annexure-II to the Notice of AGM forming part of this Annual Report. (ii) appointmentRetirement by rotation and subsequent re- ^{In accordance with the provisions of Section}152 and other applicable provisions, if any, of andtheActreadwiththeCompanies(Appointment Qualification of Directors) Rules, 2014 re-enactment(s) thereof for the time being in(including any statutory modification(s) or force)Company,and Mrs.the ArticlesMeeta Sheth,of AssociationNon-executive,of the Company is liable to retire by rotation at theNon-Independent Promoter Director of the herself for re-appointment.ensuing AGM and being eligible have offered Basedrecommendationon performanceof the Nominationevaluation andand RemunerationDirectors recommendsCommittee,her re-appointmentthe Board of liable to retire by rotation. as a Non-Executive Director of the Company, ^{The brief profile of Mrs. Meeta Sheth is given}in Annexure-II to the Notice of AGM forming part of this Annual Report. Theappointmentappropriateof Mrs.resolutionMeeta Shethfor isthebeingre-of the Company at the ensuing AGM. Detailsplaced for the approval of the shareholders skills,with respectdisclosureto herof experience,relationship attributes,between companiesdirectors inter-se, directorships held in otherand committee memberships, Listing Regulations and Secretarial Standardetc., as stipulated under Regulation 36 of the disclosedon General Meetings issued by ICSI, have beenin the Annexure-I to the Notice of the AGM.

InAct accordanceread with thewithRulesthe issuedprovisionsthereunder,of the ofthe AssociationListing Regulationsof the Company,and theAdditionalArticles ManagingDirector, DirectorIndependentof the CompanyDirectorsare andnot liable to retire by rotation. Noneresigned during the year under review. of the Directors of the Company have

Key Pursuantof theManagerial Companiesto the Personnel provisionsAct, 2013ofreadSectionswith 2(51)the Companiesand 203

Rules, 2014 (as amended from time to time), the following(Appointment and Remuneration of Managerial Personnel) are the Key Managerial Personnel of the Company:

1. Mr. Navin Doshi: Chairman & Managing Director

2. Mr. Kishor R. Mehta: Whole-time Director & CFO

3. Mrs. Riya R. Shah: Company Secretary

Duringthe Key Managerial Personnel of the Company.the year under review, there were no changes to TheCommittees Board ofof the DirectorsBoardhas the following Statutory Committees:

1. Audit Committee

2. Nomination and Remuneration Committee

3. Stakeholders Relationship Committee

4. Corporate Social Responsibility Committee

ThemanagementBoard of committees,Directors haveviz,alsoInvestmentconstitutedCommittee,3 (three) Committee.Shareholders Grievances Committee and Sales and Rental Committees,A detailed noteincludingon the itscompositionterms of referenceof the Boardis providedand its and terms of reference of all the Statutory Committee(s)in the Corporate Governance Report. The composition provisions of the Act and Listing Regulations.of the Board of Directors of the Company is in line with the of the Board which were mandatorily required have beenDuring the year, all recommendations of the Committees accepted by the Board. TheEnhancing CompanyShareholders accords topValue priority for creating and operationsenhancing areshareholdersguided and value.aligned Alltowardsthe maximizingCompanys shareholders value. TheRelationshipCompany Committeehas a duly(SRC).establishedThe StakeholdersStakeholders (Chairperson),Relationship Committee comprises of Mrs. Sheela KamdarMrs. Meeta Sheth (Member), Dr. Sharad MehtaMehta (Member),(Member) andMr. KishorMr. VinayMehtaMehta(Member),(MemberMr.- Nirajw.e.f. as Secretary to the SRC Committee.August 02, 2024). Mrs. Riya Shah, Company Secretary acts TheCorporatesalientGovernancefeatures ofReportthe Policywhich areformsset partout ofin thisthe Annual Report. TheInternal CompanyFinancial has inControls place adequateand their internalAdequacy financial controls with reference to financial statements. The Board orderlyhas adoptedand efficientpolicies conductand proceduresof its business,for ensuringincludingthe adherenceof its assets, the prevention and detection of fraud, errorto the Companys policies, the safeguarding ofreportingthe accountingmechanisms,recordstheandaccuracythe timelyand preparationcompletenessof reliable financial disclosures. TheThe AuditCompanyCommitteehas a dulycomprisesestablishedof Mrs.AuditSheelaCommittee.Kamdar Mehta(Chairperson),(Member),Mrs.Mr.MeetaKishorShethMehta(Member),(Member),Dr.Mr.SharadNiraj MehtaAugust 02, 2024). Mrs. Riya Shah, Company Secretary acts(Member) and Mr. Vinay Mehta (Member w.e.f. as Secretary to the Audit Committee. the Corporate Governance Report which forms part of thisThe salient features of the terms of reference are set out in Annual Report. reviewsThe AudittheCommitteeadequacy ofandtheeffectivenessBoard of Directorsof the internalactively the same.control systems and suggests improvements to strengthen TheStatutory Auditors are periodically apprised of the internalAudit Committee of the Board of Directors and the key role in providing assurance to the Board of Directors.audit findings and corrective actions taken. Audit plays a by the management are presented to the Audit CommitteeSignificant audit observation and corrective actions taken the internal Audit function reports to the Chairperson ofof the Board. To maintain its objectivity and independence, Financialthe Audit Committee. The Company prepares StandaloneStatements in accordance with the applicable accounting standards. DuringMaterial theOrders year underof Judicial review,Bodies/Regulators there were no significant materialTribunalsordersimpactingpassedthebygoingthe Regulatorsconcern statusor Courtsof theor Company and its operations in future. DuringReporting of the yearFrauds under review, none of the auditors has Sectionreported143(12)to the ofAuditthe CommitteeCompanies and/orAct, 2013Boardand underRules against the Company by its officers or employees, the detailsframed thereunder, any instances of fraud committed of which would need to be mentioned in the Boards report. Annual The AnnualReturn Return of the Company as on 31st March, 2024read with Section 134(3)(a) of the Act and the Companiesin Form MGT-7 in accordance with Section 92(3) (Management and Administration) Rules, 2014, is available ^{on the website of the Company at https://coralhousing.in/} shareholders-meeting.php

TheCompliance Companywith has Secretarial complied withStandard Secretarial Standards Meetings of the Board of Directors and General Meetings.issued by the Institute of Company Secretaries of India on TheListing Equity Shares of the Company continue to remain of India Limited (NSE).listed on BSE Limited (BSE) and National Stock Exchange

Description of Securities	Series	No. of Securities	BSE Limited (Scrip Code)	National Stock Exchange of India Limited (Symbol)
Equity shares of	EQ	40302225	531556	CORALFINAC
2/- each fully
paid up

these Stock Exchanges.

Link Intime India Private Limited (LIIPL) is the Registrar Registrar and Share Transfer Agent and Share Transfer Agent of the Company.

During the year, the Company has transferred the unclaimed Unclaimed Dividend andLakh Three Hundred and Fourteen only). Further, 81,000 un-encashed dividends of 2,00,314/- (Rupees Two dividends(Eighty-onewerethousand)unclaimedcorrespondingfor seven consecutiveshares on which years wereRules. The details of the resultant benefits arising out of transferred as per the requirements of the IEPF of unclaimed / un-encashed dividends lying in the unpaid shares already transferred to the IEPF, year-wise amounts shares,dividendwhichaccountare upliableto theto beyear,transferred,and the corresponding are provided sectionin the "Transparencyof the Corporate& Relationshipgovernance reportwith stakeholders" and are also availableunclaimed-dividend-and-iepf.phpon our website, at https://coralhousing.in/ Pursuant to Section 134 of the Act (including any statutory Directors Responsibility Statement modification(s)being in force), the Directors of the Company state that:or re-enactment(s) thereof for the time a. financialin the preparationyear endedofMarchthe Annual31, 2024,Accountsthe applicable for the CompaniesAccounting Act,Standards2013, haveandbeenSchedulefollowedIIIandof there the are no material departures from the same; b. and applied them consistently and made judgments the Directors have selected such accounting policies to give a true and fair view of the state of affairs of the and estimates that are reasonable and prudent so as the Company for the financial year ended March 31,Company as at March 31, 2024 and of the profits of 2024; c. propermaintenanceand sufficientof adequatecare has accountingbeen taken recordsfor the safeguardingin accordancethewithassetsthe provisionsof the Companyof the andAct forfor preventing and detecting fraud and other irregularities; d. ^{the annual accounts have been prepared on a ‘going}concern basis; e. properDirectors were followed by the Company and that suchinternal financial controls laid down by the effectively; andinternal financial controls are adequate and operating f. properprovisions of all applicable laws were in place and thatsystems to ensure compliance with the such systems are adequate and operating effectively. TheVigilCompanyMechanism has /adoptedWhistleVigilBlower MechanismPolicy / Whistle Board of Directors of the Company as per the provisionsBlower Policy, which was approved and adopted by the SEBI Listing Regulations and Regulation 9A of Securitiesof Section 177(9) and (10) of the Act, Regulation 22 of the Trading)and ExchangeRegulations,Board 2015.of IndiaThe (Prohibitionsaid policy providesof Insidera Company to approach Chairperson of the Audit Committeeformal mechanism for all Directors and employees of the ofthetheunethicalCompanybehavior,and makeactualprotectiveor suspecteddisclosuresfraudaboutand Ethics. Under the Policy, each Director / employee of theviolation of the Companys Code of Conduct and Business Audit Committee.Company has an assured access to the Chairperson of the Thehttps://coralhousing.in/policies.phpPolicy is displayed on the website of the Company

5. Auditors and Auditors Report Details of Auditors

M/s.Statutory (Firm HasmukhRegistrationAuditor ShahNo.& 103592W/Co. LLP, CharteredW-100028)Accountantswere re-the 28th Annual General Meeting of the Company held onappointed as the Statutory Auditors of the Company at (five)August 05, 2022, to hold the office for a second term of 5years from the conclusion of 28th (twenty-eight) Annual(thirty-third)GeneralAnnualMeetingGeneraltill theMeetingconclusionto be ofheldthein33rdthe year 2027 areM/s.notHasmukhdisqualifiedShah from& Co.continuingLLP has confirmedas Auditorsthatoftheythe required under the Companies Act, 2013.Company and that they satisfy the independence criteria forThe Statutory Auditors report on the Financial Statementsthe financial year ended March 31, 2024, does not containand is self-explanatory and unmodified and thus does notany qualification, reservation or adverse remark Auditors have not reported any incident of fraud to the Auditrequire any further clarifications / comments. The Statutory Committee of the Company during the year under review. The31, 2024 on the financial statements of the Company is aAuditors Report for the financial year ended March part of this Annual Report. Secretarial TherecommendationBoard Auditor of Directorsmade by theof Auditthe Committee,Company, onhas there-Co., Practicing Company Secretaries (Certificate of Practiceappointed Mrs. Uma Lodha, Proprietor of M/s Uma Lodha & No.Auditors to conduct an audit of the secretarial records for2593, Membership No. 5363), as the Secretarial the eligibility and consent received from Mrs. Uma Lodha.the financial year 2024-25, based on the confirmation of Thedisqualified to be appointed as such. Secretarial Auditor has confirmed that she is not TheLodha, for the financial year 2023-24 under Section 204 ofSecretarial Audit Report received from Mrs. Uma 24A of the Listing Regulations, is set out in Annexure [4]the Act read with Rules made thereunder and Regulation to this Report.

Uma Lodha, for the financial year 2023-24, in relation toThe Secretarial Compliance Report received from Mrs. Guidelines issued thereunder, Secretarial Standards issuedcompliance with all applicable SEBI Regulations/Circulars/ bythe Listing Regulations, is set out in Annexure [5] to thisICSI, pursuant to requirement of Regulation 24A of Report.voluntarily enclosed as good disclosure practice. The Secretarial Compliance Report has been AsAuditors Certificate on Corporate Governance received fromrequired by Schedule V of the Listing Regulations, the Mrs. Uma Lodha is set out in Annexure [3] to this report. Report for the financial year 2023-24, does not contain anyThe Secretarial Audit Report and Secretarial Compliance qualification, reservation, or adverse remark.

Internal The Board of Directors at their meeting held on June 28,Auditor Chartered2024 have appointed M/s Mansi Nishith Shah & Associates,Accountants (Firm Registration Number: Financial Year 2024-2025. 160962W) as the Internal Auditors of the Company for the During6. Corporate the financialSocialyearResponsibility ended March(CSR) 31, 2024, the against 38.76 Lakhs required to be spent. During Company incurred CSR Expenditure of 40.00 Lakhs the financial year 2023-24, the CSR initiatives of the education.Company were under the thrust area of health care andThe CSR Policy of the Company is available in/policies.php.on the website of the Company at http://coralhousing. annual report on the CSR activities undertaken during theThe Companys CSR Policy statement, composition and Sectionfinancial year ended March 31, 2024, in accordance with135 of the Act and Companies (Corporate Social modification(s)Responsibility Policy) Rules, 2014 (including any statutoryor re-enactment(s) thereof for the time being in force) is set out in Annexure [6] to this report.

Conservation of Energy, Technology Absorption and

PursuantForeign Exchange to SectionEarning 134(3)and (m)Outgo of the Act read with Companies (Accounts) Rules, 2014 are given as under: 1. about energy consumption and environmental issuesConservation of Energy: Your Company is conscious relatedefforts towards conservation of energy and optimizingwith it. It is continuously making sincere its usage in all aspects of operations.

2. Technologyrelated to technology absorptions are not applicable toincurred any R & D expenditure during the year. DetailsAbsorption: The Company has not your company during the year under review.

3. Company during the year under review. The Companyis not planning any export in the near future, as well.Export Activities: There was no export activity in the 4. year under review.noForeign Foreign Exchange Earnings Earning and Outgo: Outgo duringThere wasthe 7. a. Other No creditDisclosures rating has been obtained by the Company with respect to its securities. b. ofThe Company does not have any scheme or provisionmoney for the purchase of its own shares by employees/ Directors;employees/ Directors or by trustees for the benefit of c. ^{Cost audit records are not required to be maintained}by the Company; d. ^{During the year under review, there was no delay in}holding the Annual General Meeting of the Company; e. ^{There was no revision of financial statements and Boards}report of the Company during the year under review; f. Noand applicationBankruptcyhasCode;been hencemade underthe requirementthe Insolvencyto discloseproceedingthe pendingdetails ofunderapplicationthe Insolvencymade or andany along with their status as at the end of the financialBankruptcy Code, 2016 (31 of 2016) during the year year is not applicable; g. ^{The requirement to disclose the details of difference}between amount of the valuation done at the time takingof onetimeloan settlementfrom the Banksand theor Financialvaluation Institutionsdone while along with the reasons thereof, is not applicable. The Board of Directors would like to express their sincereAppreciation & Acknowledgement the trust reposed on us over the past several years. Yourthanks to the Shareholders & Investors of the Company for Directors are highly grateful for all the guidance, support, assistanceDepartments of Central Government & State Governments,and co-operation received from the Banks, Customersother Governmentand SuppliersDepartments,during theMembers,year underEsteemedreview. appreciationYour Directors also wish to place on record their sincerefor the dedicated efforts and consistent contributiontheir hard work,madesolidarity,by all thecooperationemployees atandalldedicationlevels for during the year.

	For and on behalf of the Board of Directors of
	Coral India CIN: L67190MH1995PLC084306 Finance and Housing Limited
	Navin Doshi	Kishor Mehta
	Chairman & Managing Director	Whole-time Director & CFO
Mumbai, August 02, 2024	DIN: 00232287	DIN: 00235120
Registered Dalamal House, 4th Floor, Jamnalal Bajaj Marg, Nariman Point, Office:
Mumbai – 400 021