Excellent Wires and Packaging Ltd Directors Report

Dear Members,

Your directors are pleased to present the 5th Annual Report of the business and operations of your Company Excellent Wires and Packaging Limited (hereinafter referred to as the said "Company") accompanied with Audited Financial Statements for the Financial Year ended on March 31, 2026.

1. Financial Summary

Financial performance of the Company for the year ended March 31, 2026, is summarized below:

PARTICULARS	Standalone		Consolidated
	Year ended 31st March, 2026	Year ended 31st March, 2025	Year ended 31st March, 2026	Year ended 31st March, 2025
Revenue from Operations	22,64,42,262	22,19,48,693	22,64,42,261	22,19,48,693
Other Income	27,55,137	24,41,437	27,55,137	24,41,437
Total Revenue	22,91,97,399	22,43,90,129	22,91,97,399	22,43,90,129
Total Expenses	20,94,12,866	20,98,10,639	20,94,20,265	20,98,10,639
Profit Before Tax and Prior Period Charge	1,97,84,533	1,45,79,490	1,97,77,134	1,45,79,490
Prior Period Items	-	-	-	-
Tax Expenses:
Current tax	47,34,868	34,78,993	47,34,868	34,78,993
Deferred tax	(2,93,404)	(3,03,962)	(2,93,404)	(3,03,962)
Prior Period Adjustment for Taxes	2,39,628	2,37,374	2,39,628	2,37,374
Less: Total Tax Expenses	46,81,092	34,12,404	46,781,093	34,12,404
Profit After Tax	1,51,03,440	1,11,67,086	1,50,96,042	1,11,67,086
Earning Per Share (EPS):
Basic	3.38	2.87	3.38	2.87
Diluted	3.38	2.87	3.38	2.87

2. Business Overview

Your directors are pleased to report that during the year under review, the Company recorded total revenue from operations of Rs. 22,91,97,399 as compared to Rs. 22,43,90,129 in the previous year and the companys profit after tax recorded in the current year is Rs. 1,51,03,440 as compared to Rs. 1,11,67,086 in the previous year.

During the financial year, the Company applied for a Tariff Rate Quota (TRQ) Licence and was granted the same on 3rd February, 2026 by the Directorate General of Foreign Trade (DGFT), Delhi, Ministry of Commerce and Industry, Government of India. The said license authorizes the Company to import specified goods from the United Arab Emirates, subject to the terms and conditions stipulated therein.

3. Deposits

During the year under review, your Company neither accepted or renewed any fixed deposits nor received any deemed deposits falling within the ambit of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

4. Dividend

In order to conserve resources for future expansions and for growth agenda of the company, the Directors have not recommended any dividend for the financial year ended 31.03.2026.

5. Share Capital

During the financial year, the Authorized Share Capital of the Company increased from Rs. 5,00,00,000/- to Rs. 12,00,00,000/-. Therefore the authorized Share Capital of the Company as on 31st March, 2026 stood at Rs. 12,00,00,000/- (Indian Rupees Twelve Crores only) divided into 1,20,00,000 (One Crore Twenty Lakhs) Equity Shares of Rs. 10/- each.

The Company has not issued any equity shares with differential rights as to dividend, voting or otherwise, during the year under review.

The Company has not issued any sweat equity shares to its directors or employees during the period under review.

6. Transfer to Reserves

The Directors have not transferred any amounts to Reserves for the financial year ended March 31, 2026.

7. Change in the nature of the business of the company

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

8. Management discussion and analysis.

The Management Discussion and Analysis as required in terms of the Listing Regulations is annexed to the report as "Annexure I" and is incorporated herein by reference and forms an integral part of this report.

9. Declaration by independent directors:

The Company has received the necessary declaration from each Independent Director in accordance with Section 149(7) of the Act and Regulations 16(1)(b) and 25(8) of the SEBI Listing Regulations, that he/she meets the criteria of independence as laid out in Section 149(6) of the Act and Regulations 16(1)(b) of the SEBI Listing Regulations. In the opinion of the Board, there has been no change in the circumstances which may affect their status as Independent Directors of the Company and the Board is satisfied of the integrity, expertise, and experience (including proficiency in terms of Section 150(1) of the Act and applicable rules thereunder) of all Independent Directors on the Board. Further in terms of Section 150 read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014, as amended, Independent Directors of the Company have included their names in the data bank of Independent Directors maintained with the Indian Institute of Corporate Affairs.

10. Familiarization Program For Independent Directors

In compliance with the requirement of Listing Regulations, the Company has put in place a Familiarization program for Independent Directors to familiarize them with the working of the company, their roles, rights and responsibilities vis-a-vis the Company, the industry in which the company operates, business model, etc., along with updating on various amendments in the Listing Regulations and the Companies Act, 2013. The detail of the aforementioned program as required under Regulation 46 of the Listing Regulation is available on the Companys website at https://www.excellentwiresandpackaging.com/.

In the opinion of the Board, the Independent Directors of the Company possess the integrity, requisite experience and expertise, relevant for the industry in which the Company operates. Further, all the independent directors of the Company have successfully registered with the Independent Directors databank of the Indian Institute of Corporate Affairs.

11. Board Evaluation

The Board of Directors has carried out an annual evaluation of its own performance, Board Committees and individual directors pursuant to the provisions of the Companies Act, 2013 and the Listing Regulations. The performance of Chairperson of the Board was reviewed by the Independent Directors taking into consideration the views of the executive directors. The parameters considered were leadership ability, adherence to corporate governance practices etc. The Board evaluated its performance after seeking inputs from all the Directors on the basis of such criteria such as Board composition and structure, effectiveness of board processes, information and functioning etc. The performance of the committees was evaluated by the Board after seeking inputs from the committee members on the basis of criteria such as the composition of committees, effectiveness of committee meetings etc. The above criteria are as provided by the Guidance note on Board evaluation issued by the Securities and Exchange Board of India.

12. Non-Applicability Of Indian Accounting Standards

As per the provisions of Rule 4(1) of the Companies (Indian Accounting Standards) Rules, 2015, Companies whose shares are listed on SME exchange as referred to in Chapter XB of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, are exempted from the compulsory requirements of adoption of IND-AS w.e.f. 1st April, 2017. As your Company is listed on NSE Emerge platform, it is covered under the exempted category and is not required to comply with IND-AS for preparation of Financial Statements.

13. Board of Directors and KMP

The Board Directors of the Company as on the year ending 31st March, 2026 are as under:

SN	DIN	Name of the Director	Designation
1	09108018	RACHIT PARESH MASALIA	Director/Managing Director
2	09108019	DARSHIL HASMUKH SHAH	Director/CEO
3	06549193	BHAVYA VASANT SHAH	Director
4	10570644	DHAVAL BHARAT SIRIYA	Independent Director
5	10570658	HEMAL VIKAS MASALIA	Independent Director
6	AABPM5667Q	PARESH VASANTLAL MASALIA	CFO
8	AABPS9148N	MEGHNA ANUP GALA	Company Secretary

During the financial year, Mr. Tejas Shah resigned from the post of Independent Director of the Company w.e.f 14.03.2026.

I. Meetings of the Board/ Committee:

During the financial year 2025-26, 11 (Eleven) meetings of the Board of Directors were held on 21st May, 2025, 26th July, 2025, 17th September, 2025, 13th October, 2025, 12th November, 2025, 1st December, 2025, 27th December, 2025, 20th January, 2026, 22nd January, 2026, 14th March, 2026 and 21st March, 2026. Details of attendance at these meetings by the directors of the Company is as under:

SN	Name of Directors	Meetings during the financial Year 2025-26
		Entitled to Attend	Attended
1	RACHIT PARESH MASALIA	11	11
2	DARSHIL HASMUKH SHAH	11	11
3	BHAVYA VASANT SHAH	11	11
4	DHAVAL BHARAT SIRIYA	11	11
5	HEMAL VIKAS MASALIA	11	11
6	TEJAS DEVDRA SHAH	10	10

II. Audit Committee

During the Financial year 2025-2026 Company has constitute audit committee and composition of the same is as under:

Name of the Member	Chairman/Member	No. of Meeting entitled to attend	Meeting Attended During 2025-2026
Dhaval Siriya	Chairman	4	4
Tejas Shah (resigned on 14th March, 2026)	Member	4	4
Rachit Masalia	Member	4	4
Hemal Masaliya (appointed on 14th March, 2026)	Member	-	-

The Board has accepted all recommendations of Audit Committee.

Four Meetings of the Audit Committee were held in the year 2025-2026 on 21st May, 2025, 26th July, 2025, 12th November, 2025 and 22nd January, 2026.

III. Nomination and Remuneration Committee:

During the Financial year 2025-2026 Company has constitute Nomination and Remuneration Committee and composition of the same is as under:

Name of the Member	Chairman/Member	No. of Meeting entitled to attend	Meeting Attended During 2025-2026
Dhaval Siriya	Chairman	1	1
Hemal Masaliya	Member	1	1
Tejas Shah (resigned on 14th March, 2026)	Member	1	1
Bhavya Shah (appointed on 14th March, 2026	Member	-	-

One meeting of Nomination and Remuneration Committee was held in the year 2025-2026 on 26th July, 2025.

IV. Stakeholder Relationship Committee:

During the Financial year 2025-2026 Company has constitute Stakeholder Relationship Committee and composition of the same are as under:

Name of the Member	Chairman/Member	No. of Meeting entitled to attend	Meeting Attended During 2025-2026
Dhaval Siriya	Chairman	1	1
Hemal Masalia	Member	1	1
Rachit Masalia	Member	1	1

One Meeting of Stakeholder Relationship Committee were held in the year 2025-2026 on 21st March, 2026.

14. Subsidiaries, Associate Companies or Joint Ventures

The Company has 1 (one) Subsidiary but does not have any Associate and Joint Venture as on March 31, 2026. The statement on performance of Subsidiary of Company is annexed as "Annexure II" in Form AOC-1.

15. Code for prohibition of insider trading

Your Company has adopted the Internal Code of conduct for Regulating, monitoring and reporting of trades by Designated persons under the Securities Exchange Board of India (Prohibition of Insider Trading) Regulation, 2015 ("Code") for prohibition of insider trading in the securities of the Company to curb the practice for dealing in the securities while having Unpublished Price Sensitive Information ("UPSI") by the Insiders of the Company.

The Code, inter alia, prohibits dealing in securities by insiders while in possession of unpublished price sensitive information. The said Code has been amended, from time to time, to give effect to the various notifications/circulars of Securities and Exchange Board of India ("SEBI") with respect to the SEBI (Prohibition of Insider Trading) Regulations, 2015. Your Company has also formulated and adopted the Policy and Procedures for inquiry in case of leak or suspected leak of Unpublished Price Sensitive Information [Under Regulation 9A (5) of Securities and Exchange Board of India (Prevention of Insider Trading) Regulations, 2015].

16. Loans & Guarantees

The Company has made an investment in its wholly owned subsidiary during the financial year. Further, during the year under review, the Company has provided a loan to its wholly owned subsidiary. Except as stated above, the Company has not made any provided loan, provided any guarantee or security, or made any investment in any person or other body corporate under the provisions of Section 186 of the Companies act, 2013.

17. Related Party Transactions

Related party transactions that were entered by the Company during the period ended March 31, 2026, were on an arms length basis and were in the ordinary course of business. The materially significant related party transactions made by the Company at arms length basis with the Promoters, Directors, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the Company at large are disclosed in "Annexure III". The details of the related party transactions as per Accounting Standard 18 are set out in Note No. 25 of the Financial Statement of the Company.

18. Internal Control Systems

Adequate internal controls, systems, and checks are in place, commensurate with the nature of the Companys business and size. The management exercises financial control on the operations through a well-defined budget monitoring process and other standard operating procedures.

The Internal Auditors monitor and evaluate the efficacy and adequacy of internal control in the Company, and compliance with operating systems, accounting procedures and policies at all locations of the Company. Based on the reports of Internal Auditors, the management undertakes appropriate corrective action in their respective areas.

19. Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo

a) Conservation of Energy:

i) The step taken or impacts on conversation of energy – NIL

ii) The steps taken by the Company for utilizing alternative sources of energy – NIL

iii) The capital investment on energy conservation equipments – NIL

b) Technology Absorption, Adaptation and Innovation:

The Company continues to use the latest technologies for improving the productivity and quality of its services and products. The Companys operations do not require significant import of technology.

c) Foreign Exchange Earning and Outgo:

(Rs. In Lakhs)

PARTICULARS	2025-2026	2024-2025
Foreign Exchange Earning	26.65	NIL
Foreign Exchange Outgo	NIL	NIL

20. Statutory Auditors and Auditors report:

M/s. Bohara Shah & Co., Chartered Accountants, Mumbai (FRN: 143865W), the Statutory Auditors of the Company were appointed as Statutory Auditors of the Company, at the AGM held on August 19, 2025, for the second term of five (5) years, from the conclusion of 4th Annual General Meeting until the conclusion of the 9th Annual General Meeting of the Company to be held in the year 2030.

The report of M/s. Bohara Shah & Co., Statutory Auditor forms part of this Report and Annual Accounts 2025-26. The said report does not contain any qualification, reservation, adverse remark or disclaimer.

During the year under review, the Auditors did not report any matter under Section 143(12) of the Act, therefore no detail is required to be disclosed under Section 134(3)(ca) of the Act.

However, M/s. Bohara Shah & Co., Chartered Accountants have tendered their resignation vide their letter dated 31st August, 2026. Thereafter the Company has considered appointment of M/s. Suthar Parab and Co., Chartered Accountants as the statutory auditor of the Company to fill the casual vacancy.

Reporting of Frauds by Auditors

During the year under review, the Auditors of the Company have not reported to the Audit Committee, under section 143(12) of the Companies Act, 2013, any instances of fraud committed against the Company by its Officers or Employees, the details of which would need to be mentioned in the Boards Report.

21. Secretarial Audit

Pursuant to Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, made there under, mandate the company to have Company Secretary in practice for furnishing secretarial audit report. Accordingly, M/s JSD & Associates has been appointed as Secretarial Auditors of the Company. The Board of Directors of your company has already appointed M/s JSD & Associates, Practicing Company Secretaries, Mumbai, a peer-reviewed firm, for FY 2025-26 to act as the Secretarial Auditor. The Secretarial Audit Report for the financial year ended 31st March 2026, as required under Section 204 of the Act.

The Members at the 4th Annual General Meeting held on August 19, 2025, approved the appointment of M/s. JSD & Associates, Practicing Company Secretary as Secretarial Auditor of the Company, for a term of 5 (Five) consecutive years from FY 2025-26 to FY 2029-30 to carry out Secretarial Audit of the Company. The Secretarial Audit Report for the financial year ended March 31, 2026 pursuant to the provisions of Section 204 of the Act is annexed herewith this report in the prescribed Form MR-3 as "Annexure IV" to the Boards report, which forms part of this Integrated Annual Report. The Secretarial Audit Report is self explanatory and does not call for any further comments. The Secretarial Audit Report does not contain any qualifications, reservations or adverse remarks.

22. Internal Audit & Controls

The Company has in place adequate internal financial controls with reference to the financial statement. During the year, such controls were tested and no reportable material weakness in the design or operation was noticed. The Audit Committee of the Board periodically reviews the internal control systems with the management and Statutory Auditors. Further, M/s. RDJ & Associates, Chartered Accountants (Firm Reg. No. W100272) acting as an Internal Auditor of the Company for Financial Year 2025-26.

23. Annual Return

Pursuant to Notification dated 28th August, 2020 issued by the Ministry of Corporate Affairs as published in the Gazette of India on 28th August, 2020, the details forming part of the extract of Annual Return in Form MGT-9 is not required to be annexed herewith to this report. However, the Annual Return will be made available at the website of the Company at: www.excellentwiresandpackaging.com

24. Directors Responsibility Statement:

Pursuant to the requirement under clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013 ("Act") with respect to the Directors Responsibility Statement, the Board of Directors of the Company state that:

a) in the preparation of the annual accounts, for the financial year ended March 31, 2026, the applicable accounting standards have been followed along with proper explanation relating to material departures.

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

c) the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

d) the directors have prepared the annual accounts of the Company on a going concern basis.

e) the directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

25. Statement containing the particulars of employees in accordance with Rule 5 (2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rule 2014 read with the Companies (Appointment and Remuneration of Managerial Personnel) Amendments Rules 2016

The Statement containing the particulars of employees in accordance with Rule 5(2) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 read with Companies (Appointment and Remuneration of Managerial Personnel) Amendments Rules, 2016 is attached as "Annexure V".

26. Corporate Social Responsibility (CSR)

The provisions of Section 135 of the Act regarding Corporate Social Responsibility are not applicable to the Company.

27. Cost audit / cost records:

As per the Cost Audit Orders and in terms of the provisions of Section 148 and all other applicable provisions of the Companies Act, 2013, read with the Companies (Audit and Auditors) Rules, 2014, Cost Audit is not applicable to our Company.

28. Vigil Mechanism

In pursuant to the provisions of sections 177(9) & (10) of the Companies Act, 2013, a Vigil Mechanism for directors and employees to report genuine concerns has been established. The Vigil Mechanism Policy has been uploaded on the website of the Company at www.excellentwiresandpackaging.com. The employees of the Company are made aware of the said policy at the time of joining the Company.

29. Risk Management Policy

The Company does not fall under the ambit of top 1000 listed entities, determined on the basis of market capitalisation as at the end of the immediately preceding financial year. Hence, compliance under Regulation 21 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is not applicable. However, the Company has laid down the procedure to inform the Board about the risk assessment and minimization procedures. These procedures are reviewed by the Board annually to ensure that there is timely identification and assessment of risks, measures to mitigate them, and mechanisms for their proper and timely monitoring and reporting.

30. Constitution of Internal Complaints Committee

As per the requirement of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 (‘POSH Act) and Rules made thereunder, your Company has constituted Internal Complaints Committees (ICC).

In terms of section 22 of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 we report that, during 2025-26 no case has been filed under the said act.

31. Listing with stock exchange

The shares of the Company were listed on National Stock Exchange of India Limited on Small, Medium Enterprise ("SME") on Thursday, September 19, 2024.

32. Secretarial Standards

The Company has in place proper systems to ensure compliance with the provisions of the applicable secretarial standards issued by The Institute of Company Secretaries of India and such systems are adequate and operating effectively.

33. Prevention of Sexual Harassment

The Companys goal has always been to create an open and safe workplace for every employee to feel empowered, irrespective of gender, sexual preferences and other factors, and contribute to the best of their abilities. In line to make the workplace a safe environment, the Company has set up a policy on prevention of sexual harassment in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 ("PoSH Act"). Further, the Company has complied with the provisions under the PoSH Act relating to the framing of an anti-sexual harassment policy and the constitution of an Internal Committee.

The Company has not received any complaints of work place complaints, including complaints on sexual harassment during the year under review. OR The following is a summary of complaints received and resolved during the reporting period:

Sl. No.	Nature of Complaints	Received	Disposed-Off	Pending
1.	Sexual Harassment	-	-	-
2.	Workplace Discrimination	-	-	-
3.	Child Labour	-	-	-
4.	Forced Labour	-	-	-
5.	Wages and Salary	-	-	-
6.	Other HR Issues	-	-	-

34. Maternity Benefit Provided by the Company under Maternity Benefit Act 1961.

The Company declares that it has duly complied with the provisions of the Maternity Benefit Act, 1961. All eligible women employees have been extended the statutory benefits prescribed under the Act, including paid maternity leave, continuity of salary and service during the leave period, and post-maternity support such as nursing breaks and flexible return-to-work options, as applicable. The Company remains committed to fostering an inclusive and supportive work environment that upholds the rights and welfare of its women employees in accordance with applicable laws.

35. Material changes and commitments affecting the financial position of the company

During the year under review there were no material changes which would affect the financial position of the Company.

36. General Disclosures

Your Directors state that no disclosure or reporting is required in respect of the following items as there were no transactions for the same during the year under review:

- Issue of debentures/bonds/warrants/any other convertible securities.

- Scheme of provision of money for the purchase of its own shares by employees or by trustees for the benefit of employees.

- Instance of one-time settlement with any Bank or Financial Institution.

- Application or proceedings under the Insolvency and Bankruptcy Code, 2016.

- Significant and material orders passed by the Regulators / Courts / Tribunals which would impact the going concern status of the Company and its future operations

37. Appreciation and Acknowledgement

Your Directors wish to place on record their appreciation and acknowledgement with gratitude for the support and co-operation extended by all the stakeholders of the Company including customers, vendors, bankers, Government authorities and look forward to their continued support. The Board of Directors places on record its appreciation for the committed service of all the employees of the Company.

For and on behalf of the Board of Directors

Excellent Wires and Packaging Limited

(Formerly Excellent Wires and Packaging Private Limited

Rachit Masalia

Managing Director

DIN: 09108018

Darshil Shah

Director

DIN: 09108019

Date: 31.08.2026

Place: Thane