Esquire Money Guarantees Ltd Management Discussions

Your Directors have pleasure in presenting the Management Discussion and Analysis Report for the year ended on 31st March, 2025.

FORWARDLOOKING STATEMENTS:

This report contains forwardlooking statements based on certain assumptions and expectations of future events. The Company, therefore, cannot guarantee that these assumptions and expectations are accurate or will be realized. The Companys actual results, performance or achievements can thus differ materially from those projected in any such forwardlooking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent developments, information or events.

OPPORTUNITIES AND THREATS:

The fundamental growth drivers of the countrys economy as well as our company continue to remain strong despite the pressures of slowdown and inflationary conditions prevalent till recently in the nation and also globally.

The threats to the segments in which the company operates are volatility in Exchange rate, pricing pressure arising due to competition from low cost suppliers, technology upgradation, and severe competition among competitor and newly emerging competitive nations and stricter environment laws. Further, the Indian economy is now integrated with the world economy to a very large extent and therefore vulnerable to the direct impact of such a slowdown; such an impact could adversely affect the Companys performance as well. Therefore, the company has decided to close down the manufacturing activity, concentrate on the trading, and look for other opportunities in the Export market.

MANAGEMENT TEAM:

The existing management has a strong technical and management knowledge and experience in the chemical business.

Mr. Manoj Chander Pandey, Chairman of the Company is an entrepreneur and is having vast knowledge and expertise in handling various businesses including the business of the Company.

INTERNAL CONTROL SYSTEM AND THETR ADEQUACY:

The Company has proper and adequate internal control system commensurate with the size of the business operations geared towards achieving efficiency in its various business operations, safeguarding assets, optimum utilization of resources and compliance with statutory regulations. The management is ensuring an effective internal control system to safeguard the assets of the company. Efforts for continued improvement of internal control system are being consistently made in this regard. The company has cleared secured bank liability against assets.

HUMAN RESOURCES VISAVIS INDUSTRIAL RELATIONS:

The Company values and appreciates the dedication and drive with which its employees have contributed towards improved performance during the year under review. The industrial relations with staff and officers are cordial during the year under review. All issues pertaining to staff matters are resolved in harmonious and cordial manner.

CAUTIONARY STATEMENT:

Statements in the Management Discussion and Analysis describing the Companys objectives, projections, estimates and expectations may be ‘forward looking statements within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Companys operations include economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates changes in the Government regulations, tax laws, and other statutes and other incidental factors.

By Order of the Board

Sd/

(Manoj Chander Pandey) Managing Director DIN:05261183

Dated: 03/09/2025 Place: Mumbai

Disclosures with respect to Demat Suspense account/ unclaimed suspense account

Your Directors have pleasure in presenting the Disclosures with respect to demat suspense account/ unclaimed suspense account for the year ended on 31st March, 2025.

Serial No. Particulars
1. aggregate number of shareholders and the outstanding shares in the suspense account lying at the beginning of the year;	Nil
2. number of shareholders who approached listed entity for transfer of shares from suspense account during the year;	Nil
3. number of shareholders to whom shares were transferred from suspense account during the year;	Nil
4. aggregate number of shareholders and the outstanding shares in the suspense account lying at the end of the year;	Nil
5. that the voting rights on these shares shall remain frozen till the rightful owner of such shares claims the shares.	Nil

By Order of the Board

Sd/

(Manoj Chander Pandey) Managing Director DIN:05261183

Dated: 03/09/2025 Place: Mumbai

If undelivered return to :

Esquire Money Guarantees Limited

A201, 2nd Floor, Navneelam Premises CHS., 108, DR R G Thadani Marg, Podar Hospital,

Worli, Mumbai City, Maharashtra, 400018

EMail: rs97cai 1(d>rediffmaii.com