Gulf Lloyds India Ltd Directors Report

Dear Share Holder,

On behalf of the Board of Directors, it is our pleasure to present the Annual Report together with the Audited Statement of Accounts of GULF LLOYDS INDUSTRIAL SERVICES (INDIA) PRIVATE LIMITED for the year ended March 31,2023.

Financial Performance

The summarized standalone results of Company are given in the table below.

Particulars	Standalone	Standalone
	31/03/2023	31/03/2022
Total Income	13,08,97,332	9,10,76,274
Profit/(Ioss) before Depreciation, Interest & Tax	1,93,14,039	1,65,96,814
Finance Charges	7,77,593	1,01,923
Depreciation	26,36,022	11,86,258
Provision for Income Tax & Deffered Tax (including for	44,43,643	35,84,045
Net Profit/(Loss) After Tax	1,14,56,781	1,17,24,588
Profit/(Loss) brought forward from previous year	1,82,81,055	65,56,467
Profit/(Loss) carried to Balance Sheet	2,97,37,836	1,82,81.055

Summary of Operations

GULF LLOYDS INDUSTRIAL SERVICES INDIA PRIVATE LIMITED was established in the September- 2014. The company is in the field of services of ISO CERTIFICATE.

The highlights of the key financial are as under:

Particular	Standalone
Equity Share Capital	1,00,000
Net Worth	2,97,37,836
Book Value Per Share	2973.78
Earnings Per Share	1145.68

Business Review/State of the companys affairs

During the year under review, the Company has not changed its nature of business. Further, No events occurred between the end of the financial year of the company to which the financial statements relate and the date of the report which effects the financial statement of the company.

Reserves

The Company is having balance of profit and loss account as reserves carried at 2,97,37,836 in the balance sheet.

Dividend

Considering the requirement of the funds for development of the Company, your Directors do not recommend any dividend.

As there is a book loss during the year, dividend is not declared during the year considering the provisions of Company Act,2013.

Details of Board meetings

During the year, 5 number of Board meetings were held during the year ended 31st March, 2023. These were held on 27-05-2022, 19-08-2022, 31-10-2022, 02-01-2023 and 28-03-2023.

Name Of Director	No. Of Board meeting held, and attended, during tenure				% of attendance
	1	2	3	4
BHAGIRATH PUNJALAL BHAVSAR	*	*	*	*	100%
JAYKUMAR BHAGIRATHKUMAR BHAVSAR	t	*	t	*	100%
ANITABEN BHAGIRATHKUMAR BHAVSAR	*	\u2666	\u2666	*	100%

?™? Attended in person

Capital/ Finance

During the year, the Company has not increased its share capital.

As on 31st March, 2023, the issued, subscribed and paid up share capital of Company stood at Rs. 1,00,000/-, comprising 10,000 Equity shares of Rs.l0/-each.

Extract of Annual Return

Pursuant to section 92(3) of the Companies Act, 2013 (the Act ) and rule 12(1) of the Companies (Management and Administration) Rules, 2014, extract of annual return is Annexed as Annexure 1.

Committees of Board

The details of composition of the Committees of the Board of Directors are as under:-

a. Audit Committee: Not Applicable

b. Nomination & Remuneration Committee: Not Applicable

c. Corporate Social Responsibility Committee: Not Applicable

d. Stakeholders Relationship Committee: Not Applicable Directors Responsibility Statement

Pursuant to the requirement clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, your Directors confirm that:

(a) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) The directors had 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 and loss of the company for that period;

(c) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) The directors had prepared the annual accounts on a going concern basis; and

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

Statutory Auditors, their Report and Notes to Financial Statements

In the Extra Ordinary General Meeting held on the November 2022, M/s. Sukrut Shah And Associates, Chartered Accountants have been appointed Statutory Auditors of the Company for a period of Two year.

Further, the report of the Statutory Auditors along with notes to Schedules is enclosed to this report. The observations made in the Auditors Report are self-explanatory and therefore do not call for any further comments.

Cost Audit: Not Applicable Secretarial audit: Not Applicable Related party transactions

The details of transactions entered into with the Related Parties are enclosed as AOC- 2. (Annexure-1)

Human Resources

Your Company treats its " human resources " as one of its most important assets.

Your Company continuously invests in attraction, retention and development of talent on an ongoing basis. A number of programs that provide focused people attention are currently underway. Your Company thrust is on the promotion of talent internally through job rotation and job enlargement.

Statement containing salient features of financial statements of subsidiaries

Pursuant to sub-section (3) of section 129 of the Act, Company have not any subsidiary or subsidiaries, associate company or companies and joint venture or ventures.

Risk Management Policy

In terms of the requirement of the Act, the Company has developed and implemented the Risk Management Policy. Company manages monitors and reports on the principal

risks and uncertainties that can impact its ability to achieve its strategic objectives.

The company has introduced several internal checks and internal control to curb the primary level of risk.

Significant and material orders passed by the regulators

During the year under review, No significant and material orders were passed by the regulators or courts or tribunals impacting the going concern status and company s operations:

Internal financial controls

The internal financial controls with reference to the Financial Statements are commensurate with the size and nature of business of the Company.

Directors and Key Managerial Personnel

No Changes in the directors or key managerial personnel by way of appointment, re - designation, resignation, death or disqualification, variation made or withdrawn etc.

Particulars of loans, guarantees or investments under section 186.

Details of Loans and investments covered under the provisions of Section 186 of the companies Act, 2013 are given in the notes to the Financial Statements.

There are no guarantees issued by your Company in accordance with Section 186 of the Companies Act, 2013 read with the Rules issued there under.

Deposits

The details relating to deposits, covered under Chapter V of the Act-

The company has not accepted any public deposit. Hence the question of contravening the provision of sections 73 to 76 or other relevant provisions of the Companies Act and the rule framed there under does not arise.

(a) Accepted during the year: Nil

(b) Remained unpaid or unclaimed as at the end of the year: Nil

(c) Whether there has been any default in repayment of deposits or payment of interest thereon during the year and if so, number of such cases and the total amount involved: No

(d) At the beginning oflhe year:

(e) Maximum during the year:

(f) At the end of the year:

The details of deposits which are not in compliance with the requirements of Chapter V of the Act:

As the company has not any accepted any deposit during the year which requires compliance

Management Discussion and Analysis

Management Discussion and Analysis comprising an overview of the Financial results, operations/performance and the future prospects of the Company form part of this Annual Return.

Particulars of Employees

Pursuant to the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, Remuneration paid to all the Directors as per their performance during the earlier year. Performance is measured and evaluated by the Human Resource Department.

Details of conservation of energy, technology absorption, foreign exchange earnings and outgo

Information pursuant to Section 134(3)(m) of the Companies Act,2013,read with the Companies(Disclosure of Particulars in the report of the Board of Directors) Rules,2014 relating to the foregoing matters is given in the Annexure 2 forming Part of this report.

Acknowledgement

Your Directors place on record their appreciation for employees at all levels, who have contributed to the growth and performance of your Company.

Your Directors also thank the clients, vendors, bankers, shareholders and advisers of the Company for their continued support.

Your Directors also thank the Central and State Governments, and other statutory authorities for their continued support.

Place: Ahmedabad

Date: 25 s 1 September, 2023