Identixweb Ltd Directors Report

Dear Shareholders,

The Board of Directors hereby submits the report of the business and operations of Identixweb Limited ("the Company"), along with the Standalone and consolidated audited financial statements, for the financial year ended March 31, 2025.

CORPORATE OVERVIEW:

Incorporated in 2017, Our Company, as an IT firm, is involved in providing Software as a service (SAAS) - based digital product solutions. Our Company offers E-Commerce Store Development, Web App Development, UI/UX Design, Website development, Customize Software Development, support and maintenance with a primary focus on Shopify application development. The primary goal of our company is to deliver applications online, eliminating the need for installation and maintenance. Our products include more than 10 Shopify applications that are conversion-optimized and tailored made to meet customer needs. We provide our products and services worldwide across a wide range of sectors. Our company specializes in Shopify application development, which focuses on creating applications that enhance the functionality and performance of Shopify stores. These applications can range from tools that improve store management and customer engagement to features that optimize sales and streamline operations. Shopify is a leading e-commerce platform that powers over a million businesses worldwide. Its flexibility and scalability make it an ideal choice for businesses of all sizes. However, to truly maximize the potential of a Shopify store, merchants often need custom applications that cater to their specific needs. Our extensive experience and deep understanding of the Shopify platform enable us to deliver top-tier Shopify solutions. We are committed to ensure that all our services are executed with the highest level of precision and customer satisfaction. Our dedication to excellence has earned us a reputation for delivering innovative, reliable, and efficient Shopify solutions that help merchants achieve their business goals. The Company provides the following services as below:

Shopify Application Development:

Shopify application development focuses on creating software solutions that enhance the functionality and performance of Shopify stores. These apps can be either public, available to any Shopify merchant via the Shopify App Store, or custom, tailored to meet the specific needs of individual businesses. By leveraging Shopify apps, merchants can streamline their operations, improve customer experience, and boost sales. From inventory management to marketing automation, these applications empower merchants to optimize their online stores and succeed in the competitive e-commerce landscape.

NODE Js Development:

Node.js is a powerful engine that runs JavaScript code outside of a web browser, commonly used to build fast and efficient servers. It enables websites and applications to handle multiple tasks simultaneously, ensuring smooth and quick responses. This makes it an excellent tool for developers creating online services and applications.

PHP Development:

PHP development involves using the PHP programming language to create websites and web applications. PHP is like a translator that sits on the server, taking requests from your browser and sending back the right web pages or data. Its popular because its easy to learn, flexible, and works well with databases, which makes it ideal for building dynamic and interactive websites.

Web Application Development:

Web application development is the process of creating interactive websites that do more than just show information. These web applications can perform tasks like online shopping, managing emails, social networking, and more. Developers use various programming languages and tools to build these applications so they can work on different devices, including computers, tablets, and smartphones. The goal is to make these web applications user-friendly, efficient, and accessible from anywhere with an internet connection.

React JS Development:

React.js development involves using the React library to build user interfaces, especially for web applications. React.js makes it easy to create interactive and dynamic web pages by breaking them into small, reusable components. This approach helps developers manage complex interfaces efficiently and ensures that the web app runs smoothly and quickly. React.js is popular because it allows developers to build modern, responsive websites that provide a great user experience.

FINANCIAL YEAR 2024-25 AT GLANCE:

in Lakhs

PARTICULARS	Standalone		Consolidated
	F.Y. 2024-25	F.Y. 2023-24	F.Y. 2024-25	F.Y. 2023-24
Revenue from Operations	853.38	632.90	909.32	633.36
Add: Other Income	45.80	26.80	12.13	32.89
Total Income	899.19	659.70	921.45	666.25
Less: Total Expenses before Depreciation,	245.24	286.27	316.24	304.38
Finance Cost and Tax
Profit before Depreciation, Finance Cost and Tax	653.95	373.43	605.21	361.87
Less: Depreciation and amortization expense	78.95	80.35	108.81	81.67
Less: Finance Cost	0.00	5.43	0.00	6.82
Profit Before Extraordinary & Exceptional	575.00	287.64	496.41	273.38
Items and Tax
Add: Extraordinary & Exceptional Items	4.17	75.00	4.17	75.00
Net Profit Before Tax	579.17	362.64	500.58	348.38
Less: Tax expenses	167.91	91.75	167.91	91.75
Net Profit After Tax	411.26	270.90	332.67	256.63
Net Profit/ (loss) attributable to minority interest	-	-	(39.31)	(7.14)
Profit/ (loss) attributable to Parent	411.26	270.90	371.98	263.76

Financial Performance - On Standalone Basis

During the year under review, the revenue from operation of the Company was stood at 853.38 Lakhs as against that of 632.90 Lakhs for previous year. The primary reason for increase revenue was increase in supply of services. During FY 2024-25, the Company generated revenue of 220.36 Lakhs as against that of 39.23 Lakhs during FY 2023-24. Our company provides a wide range of development services beyond Shopify, through Node.js, PHP, and React.js development across world. Profit before Tax for the financial year 2024-25 stood at 579.17 Lakhs as against Profit before Tax of 362.64 Lakhs for the financial year 2023-24. The primary reason for increase in Profit before Tax was increase in revenue. The net profit of 411.26 Lakhs for the financial year 2024-25 as against the net profit of 270.90 Lakhs for the financial year 2023-24.

Financial Performance - On Consolidated Basis

During the year under review, the total revenue of the Company was stood at 909.32 Lakhs as against that of 633.36 Lakhs for previous year. Revenue from operation of the Company was increased by 34.84% over previous year. The primary reason for increase revenue was increase in supply of services. During FY 2024-25, the Company generated revenue of 276.29 Lakhs as against that of 39.68 Lakhs during FY 2023-24. Profit before Tax for the financial year 2024-25 stood at 500.58 Lakhs as against Profit before Tax of 348.38 Lakhs for the financial year 2024-25. The primary reason for increase in Profit before Tax was increase in revenue. The net Profit of the Company (after adjustment of minority interest) was 371.98 Lakhs for the financial year 2024-25 as against the net Profit of 263.76 Lakhs for the financial year 2023-24. The Board expects a growth in the Revenue from operations and ultimately an increase in the Net Profit over the upcoming years. Moreover, Munim ERP Private Limited has started its operation on full fledge basis which will also enhance the performance of the Company on consolidated basis.

SHARE CAPITAL:

During the year under review, following changes were carried out in the share capital of the Company:

Authorized Capital

During the year under review, vide Special Resolution passed by the Members at their Extra Ordinary General Meeting held on May 18, 2024, the authorized share capital of the Company has been increased 10,00,00,000/- (Rupees Ten Crore only) divided into 1,00,00,000 (One Crores) Equity Shares of 10/- (Rupees Ten only) each to 11,00,00,000 /- (Rupees Eleven Crores only) divided into 1,10,00,000 (One Crores and Ten Lakhs) Equity Shares of 10/- (Rupees Ten only) each. The Authorized share Capital of the Company, as at closure of financial year 2024-25, was 11,00,00,000 /- (Rupees Eleven Crores only) divided into 1,10,00,000 (One Crores and Ten Lakhs) Equity Shares of 10/- (Rupees Ten only) each.

Issued, Subscribed & Paid-up Capital

Issued, Subscribed & Paid-up share Capital of the Company as at closure of financial year 2024-25, was 736.16 Lakhs divided into 7361550 Equity Shares of 10.00 each. After the end of financial year 2024-25, the Company came up with an Initial Public Offer of 3080000 equity shares of 10.00 each at a price of 54 per equity share including a share premium of 44 per equity share aggregating to 1,663.20 Lakhs. The said 3080000 equity shares were successfully subscribed by the public and Company has made allotment of equity shares on April 01, 2025. The entire Paid-up Equity shares of the Company was then listed at SME Platform of Bombay Stock Exchange Limited (BSE). Issued, Subscribed & Paid-up share Capital of the Company as on the date of this report, stood at 1044.16 Lakhs divided into 10441550 Equity Shares of 10.00 each.

The required disclosures with respect to the allotment of equity during the under review till the date of this report:

Description		Particulars
Date of issue and allotment of Shares	Date of issue:	Date of issue:	Date of issue:
	01/07/2023	01/09/2025	17/06/2024
	Date of allotment:	Date of allotment:	Date of allotment:
	29/08/2023	22/09/2023	01/04/2025
Number of Shares	4745	1222	3080000
Whether the issue of Shares was by way of preferential allotment, private placement, public issue	Preferential Allotment	Preferential Allotment	Public Issue
Issue price	INR 4,742/- per Share	INR 4,742/- per Share	INR 54/- per Share
Maturity date	NA	NA	NA
Amount raised, specifically stating as to whether twenty five percent of the consideration has been collected upfront from the holders of the warrants	NA	NA	NA
Terms and conditions of warrants including conversion terms	NA	NA	NA

DIVIDEND:

With view to save the profit for future expansion purpose, the Board of Directors regret to recommend any dividend (Previous Year Nil).

TRANSFER TO GENERAL RESERVE:

Your directors do not propose to transfer any amount to the General Reserves. The Board of Directors of the Company have decided to carry the entire amount of Net profit to the Balance Sheet.

CHANGE IN NATURE OF BUSINESS:

During the year, your Company has not changed its business and continues to be in the same line of business as per the main object of the Company.

REGISTERED OFFICE OF THE COMPANY:

During the year under review, the board in their meeting held on May 17, 2024, shifted the registered office of the Company from ‘Shop-806, 8th FLR, R. J. D. Business Hub, Wing B, Nagina Wadi, Kasha Nagar Rd, Katargam, SY. No. 3348, PL-12 Surat 395 004, Gujarat, India to ‘1st Floor, Plot No. 240, C. S. No. 1730, Nehru Nagar, L. H. Road, SY No. 46/A+2, TPS-4, Surat 395006, Gujarat, India with effect from May 18, 2024.

BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL: Constitution of Board

The Company has a balanced board with optimum combination of Executive and Non-Executive Directors, including Independent Directors, which plays a crucial role in Board processes and provides independent judgment on issues of strategy and performance. None of the Directors of Board is a member of more than ten Committees or Chairperson of more than five committees across all the Public companies in which they are Director. The necessary disclosures regarding Committee positions have been made by all the Directors. The Board of the Company comprises Six Directors out of which two are Promoter Executive Directors and one is Promoter Non-Executive Non-Independent Director and three are Non-Executive Independent Directors. The Board comprise following Directors;

				No. of Committee^
Name of Director	Category Cum Designation	Date of Appointment at current Term	Total Directorship~	in which Director is Member	in which Director is Chairperson	No. of Shares held as on March 31, 2025
Mr. Priyankkumar Savani$	Chairman and Managing Director	17/05/2024	2	2	0	3230000
Mr. Ankur Lakhani	Whole-Time Director	17/05/2024	3	0	0	3230000
Mrs. Hiralben Lakhani	Non-Executive Director	30/09/2023	2	0	0	9025
Mr. Niravkumar Donda	Independent Director	14/05/2024	1	2	1	0
Mrs. Archana Bhayani	Independent Director	17/05/2024	2	4	1	0
Mr. Rohitkumar Devrajbhai Dabhi	Independent Director	09/11/2024	1	0	0	0

^ Committee includes Audit Committee and Shareholders Grievances Committee across all Public Companies. ~ Excluding Foreign Companies, Section 8 Companies & struck off Companies. $ Acting as the Chairperson of the Board.

Disclosure by Directors

The Directors on the Board have submitted notice of interest under Section 184(1) i.e. in Form MBP 1, intimation under Section 164(2) i.e. in Form DIR-8 and declaration as to compliance with the Code of Conduct of the Company. None of the Directors of the Company is disqualified for being appointed as Director as specified in Section 164 (2) of the Companies Act, 2013.

Board Meeting

Regular meetings of the Board are held, inter-alia, to review and discuss the various businesses that require the approval of the Board. Additional Board meetings are convened, as and when required, to discuss and decide on various business policies, strategies and other businesses. The Board meetings are generally held at registered office of the Company. During the year under review, Board of Directors of the Company met 18 (Eighteen) times, viz May 10, 2024, May 17, 2024, June 01, 2024, June 03, 2024, June 05, 2024, June 17, 2024, June 27, 2024, July 01, 2024, July 10, 2024, July 20, 2024, November 09, 2024, March 01, 2025, March 03, 2025, March 05, 2025, March 10, 2025, March 20, 2025, March 25, 2025 and March 28, 2025. The gap between two consecutive meetings was not more than one hundred and twenty days as provided in section 173 of the Act. The details of attendance of each Director at the Board Meeting and Annual General Meeting are given below.

Name of Director	Priyankkum ar Savani	Ankur Lakhani	Hiralben Lakhani	Niravkumar Donda*	Archana Bhayani#	Rohitkumar Devrajbhai Dabhi$
Number of Board Meeting held	18	18	18	18	18	18
Number of Board Meetings Eligible to attend	18	18	18	17	16	07
Number of Board Meeting attended	18	18	18	17	16	07
Presence at the previous AGM	Yes	Yes	Yes	Yes	Yes	NA

* Mr. Niravkumar Donda was appointed as an Additional Independent Director of the Company with effect from May 14, 2024. Thereafter, pursuant to the approval of members in the Extra Ordinary General Meeting held on May 18, 2024, he was regularized and appointed as an Independent Director of the Company for a period of five years w.e.f. May 14, 2024. # Mrs. Archana Bhayani was appointed as an Additional Independent Director of the Company with effect from May 17, 2024. Thereafter, pursuant to the approval of members in the Extra Ordinary General Meeting held on May 18, 2024, she was regularized and appointed as an Independent Director of the Company for a period of five years w.e.f. May 17, 2024. $ Mr. Rohitkumar Devrajbhai Dabhi was appointed as an Additional Independent Director of the Company with effect from November 09, 2024. Thereafter, pursuant to the approval of members in the Extra Ordinary General Meeting held on November 12, 2024, he was regularized and appointed as an Independent Director of the Company for a period of five years w.e.f. November 09, 2024.

Independent Directors

In terms of Section 149 of the Companies Act, 2013 and rules made there under and Listing Regulations, the Company has three Non-Promoter Non-Executive Independent Directors. In the opinion of the Board of Directors, all three Independent Directors of the Company meet all the criteria mandated by Section 149 of the Companies Act, 2013 and rules made there under and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and they are Independent of Management. Further, both the Independent Directors of the Company had registered themselves in the Independent Directors Data Bank. A separate meeting of Independent Directors was held on March 20, 2025 to review the performance of Non-Independent Directors and Board as whole and performance of Chairperson of the Company including assessment of quality, quantity and timeliness of flow of information between Company management and Board that is necessary for the board of directors to effectively and reasonably perform their duties.

The terms and conditions of appointment of Independent Directors and Code for Independent Director are incorporated on the website of the Company at www.identixweb.com. The Company has received a declaration from the Independent Directors of the Company under Section 149(7) of Companies Act, 2013 and 16(1)(b) of Listing Regulations confirming that they meet criteria of Independence as per relevant provisions of Companies Act, 2013 for financial year 2024-25. The Board of Directors of the Company has taken on record the said declarations and confirmation as submitted by the Independent Directors after undertaking due assessment of the veracity of the same. In the opinion of the Board, they fulfill the conditions for Independent Directors and are independent of the Management. In the opinion of the Board, the Independent Directors possess the requisite expertise and experience and are persons of high integrity and repute. All the Independent Directors have confirmed that they are in compliance with Rules 6(1) and 6(2) of the Companies (Appointment and Qualification of Directors) Rules, 2014, with respect to registration with the data bank of Independent Directors maintained by the Indian Institute of Corporate Affairs. None of Independent Directors have resigned during the year. Moreover, Independent Directors have also recommended key performance indicators to be disclosed in the offer document of the Company, vide their meetings dated July 20, 2024 and March 20, 2025.

Key Managerial Personnel

In accordance with Section 203 of the Companies Act, 2013, during the year under review, the Company had appointed Mr. Priyankkumar Savani as Chairman and Managing Director (w.e.f. May 17, 2024) of the Company, Mr. Ankur Lakhani as Whole-Time Director (w.e.f. May 17, 2024) of the Company, Mr. Abhishek Nakrani as Chief Financial Officer (w.e.f. May 17, 2024) of the Company, Ms. Pooja shah as Company Secretary and Compliance Officer (w.e.f. June 01, 2024) of the Company who were acting as Key Managerial Personnel in accordance with Section 203 of the Companies Act, 2013. As on date of this report, there is no change in the Key Managerial Personnel of the Company.

Information on Directorate

During the year under review, following changes took place in the constitution of the Board of Directors;

Name	Date of Change	Date of Approval by the Board	Date of Approval by the Shareholders	Nature of Change
Mr. Niravkumar Donda	May 14, 2024	May 10, 2024	-	Appointed as Additional Non- Executive Independent Director
Mrs. Archana Bhayani	May 17, 2024	May 10, 2024	-	Appointed as Additional Non- Executive Independent Director
Mr. Priyankkumar Savani	May 17, 2024	May 17, 2024	May 18, 2024	Changed designation to Chairman and Managing Director of the Company.
Mr. Ankur Lakhani	May 17, 2024	May 17, 2024	May 18, 2024	Changed designation to Whole- Time Director
Mr. Niravkumar Donda	May 18, 2024	-	May 18, 2024	Changed designation to Non- Executive Independent Director
Mrs. Archana Bhayani	May 18, 2024	-	May 18, 2024	Changed designation to Non- Executive Independent Director
Mr. Rohitkumar Devrajbhai Dabhi	November 09, 2024	November 09, 2024	-	Appointed as Additional Non- Executive Independent Director
Mr. Rohitkumar Devrajbhai Dabhi	November 12, 2024	-	November 12, 2024	Changed designation to Non- Executive Independent Director

The relevant details, as required under Regulation 36 (3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") and Secretarial Standards-II issued by ICSI, of the person seeking re-appointment as Director is annexed to the Notice convening the seventh annual general meeting.

Performance 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 in the following manners; The performance of the board was evaluated by the board, after seeking inputs from all the directors, on the basis of the criteria such as the 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 the criteria such as the composition of committees, effectiveness of committee meetings, etc. The board and the nomination and remuneration committee reviewed the performance of the individual directors on the basis of the criteria such as the contribution of the individual director to the board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings, etc. In addition, the performance of chairperson was also evaluated on the key aspects of his role. Separate meeting of independent directors was held to evaluate the performance of non-independent directors, performance of the board as a whole and performance of the chairperson, considering the views of executive directors and non-executive directors. Performance evaluation of independent directors was done by the entire board, excluding the independent director being evaluated. Separate meeting of independent directors was held to evaluate the performance of non-independent directors, performance of the board as a whole and performance of the chairperson, considering the views of executive directors and non-executive directors. Performance evaluation of independent directors was done by the entire board, excluding the independent director being evaluated.

Directorsf Responsibility Statement

Pursuant to section 134(5) of the Companies Act, 2013, the board of directors, to the best of their knowledge and ability, confirm that: a) In preparation of annual accounts for the year ended March 31, 2025, the applicable accounting standards have been followed and that no material departures have been made from the same; 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 or loss of the Company for that year; c) The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d) The Directors had prepared the annual accounts for the year ended March 31, 2025 on going concern basis. e) The Directors had laid down the internal financial controls to be followed by the Company and that such Internal Financial Controls are adequate and were operating effectively; and f) 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.

COMMITTEES OF BOARD

The Board of Directors, in line with the requirement of the act, has formed various committees, details of which are given hereunder.

1. Audit Committee

2. Stakeholders Relationship Committee

3. Nomination and Remuneration Committee

4. Corporate Social Responsibility Committee

The composition of each of the above Committees, their respective role and responsibility are detailed hereunder;

1. AUDIT COMMITTEE

The Board of Directors of our Company has, in pursuance to provisions of Section 177 of the Companies Act, 2013 and rules made thereunder, as amended from time to time, read with SEBI (Listing Obligations and Disclosures Requirement) Regulations, 2015, as applicable, in its meeting held on June 01, 2024 constituted Audit Committee. The purpose of audit committee is to assist the Board in fulfilling its overall responsibilities of monitoring financial reporting processes, reviewing the Companys established systems and processes for internal financial controls, governance and reviewing the Companys statutory and internal audit activities.

Composition of Committee, Meeting and Attendance of each Member at Meetings

Audit Committee shall meet at least four times in a year and not more than one hundred and twenty days shall elapse between two meetings. Additional meeting is held for the purpose of reviewing the specific item included in terms of reference of the Committee. The quorum for the meeting shall be one third of total members of the Audit Committee or Two, whichever is higher, subject to minimum two Independent Director shall be present at the meeting. The Audit Committee met Twelve (12) times during the financial year 2024-25 viz; June 03, 2024, June 05, 2024, June 27, 2024, July 01, 2024, July 10, 2024, July 20, 2024, March 01, 2025, March 05, 2025, March 10, 2025, March 17, 2025, March 20, 2025, and March 28, 2025. The composition of the Committee and attendance of each Member at Meetings is given below:

Name of Members	Category	Designation in Committee	Number of meetings during the financial year 2024-25
			Held	Eligible to attend	Attended
Mr. Niravkumar Donda	Non-Executive Independent Director	Chairperson	12	12	12
Mrs. Archana Bhayani	Non-Executive Independent Director	Member	12	12	12
Mr. Priyankkumar Savani	Chairman and Managing Director	Member	12	12	12

The Company Secretary of the Company is acting as Secretary to the Audit Committee.

The Statutory Auditors of the Company are invited in the meeting of the Committee wherever requires. Chief Financial Officer of the Company is a regular invitee at the Meeting. Recommendations of Audit Committee, wherever/whenever given, have been accepted by the Board of Directors. The Chairperson of the Committee - Mr. Niravkumar Donda has attended last Annual General Meeting of the Company held on September 30, 2024. The terms reference of Audit Committee specified by the Board of Directors is briefed hereunder;

Role of Committee

1. The recommendation for the appointment, re-appointment and, if required, the replacement or removal of the statutory auditor, their remuneration and fixation of terms of appointment of the Auditors of the Company;

2. Review and monitor the auditors independence and performance, and effectiveness of audit process;

3. Examination of financial statement and auditors report thereon including interim financial result before submission to the Board of Directors for approval, particularly with respect to: i. Changes, if any, in accounting policies and practices and reasons for the same, ii. Major accounting entries involving estimates based on the exercise of judgment by management, iii. Significant adjustments made in the financial statements arising out of audit findings, iv. Compliance with listing and other legal requirements relating to financial statements, v. Disclosure of any related party transactions, vi. Modified opinion(s) / Qualifications in the draft audit report;

4. Approval or any subsequent modification of transactions of the Company with related party, subject following conditions. The Audit Committee may make omnibus approval for related party transactions proposed to be entered in to by the Company subject to such conditions provided under the Companies Act, 2013 or any subsequent modification(s) or amendment(s) thereof; In case of transaction, other than transactions referred to in section 188 of Companies Act 2013 or any subsequent modification(s) or amendment(s) thereof, and where Audit Committee does not approve the transaction, it shall make its recommendations to the Board; In case any transaction involving any amount not exceeding one crore rupees is entered into by a director or officer of the company without obtaining the approval of the Audit Committee and it is not ratified by the Audit Committee within three months from the date of the transaction, such transaction shall be voidable at the option of the Audit Committee;

5. Reviewing, with the management, and monitoring the statement of uses / application of funds raised through an issue (public issue, rights issue, preferential issue, etc.), the statement of funds utilized for purposes other than those stated in the offer document/ prospectus, and making appropriate recommendations to the Board to take up steps in this matter;

6. Scrutiny of Inter-corporate loans and investments;

7. Reviewing and discussing the findings of any internal investigations by the internal auditors into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the board;

8. To review the functioning of the Whistle Blower mechanism, in case the same is existing;

9. Valuation of undertakings or assets of the company, where ever it is necessary;

10.Evaluation of internal financial controls and risk management systems and reviewing, with the management, performance of internal auditors, and adequacy of the internal control systems; and 11.To look into the reasons for substantial defaults in the payment to the depositors, debenture holders, shareholders (in case of non-payment of declared dividends) and creditors; 12.To monitor the end use of fund invested or given by the Company to Subsidiary Companies; 13.Carrying out any other function as assigned by the Board of Directors from time to time.

Review of Information by the Committee

The Audit Committee shall mandatorily review the following information:

1. Statement of significant related party transactions (as defined by the audit committee), submitted by management;

2. Management letters / letters of internal control weaknesses issued by the statutory auditors;

3. Internal audit reports relating to internal control weaknesses; and

4. The appointment, removal and terms of remuneration of the Internal Auditor.

5. Quarterly / half yearly statement of deviation(s), if applicable, submitted to stock exchange(s) in terms of Regulation 32(1);

6. Annual statement of funds utilized for purposes other than those stated in the offer document/ prospectus;

Powers of Committee

The Committee -

1. To investigate any activity within its terms of reference;

2. To seek information from any employees;

3. To obtain outside legal or other professional advice; and to secure attendance of outsiders with relevant expertise, if it considers necessary.

4. Call for the comments of the auditors about internal control systems, the scope of audit, including the observations of the auditors and review of financial statement before their submission to the Board and may also discuss any related issues with the internal and statutory auditors and the management of the company.

5. To investigate into any matter in relation to the items specified in sub-section (4) of Section 177 of the Companies Act, 2013 or referred to it by the Board and for this purpose shall have power to obtain professional advice from external sources and have full access to information contained in the records of the company.

VIGIL MECHANISM

The Company has established a vigil mechanism and accordingly framed a Whistle Blower Policy. The policy enables the employees to report to the management instances of unethical behavior, actual or suspected fraud or violation of Companys Code of Conduct. Further the mechanism adopted by the Company encourages the Whistle Blower to report genuine concerns or grievances and provide for adequate safe guards against victimization of the Whistle Blower who avails of such mechanism and also provides for direct access to the Chairperson of the Audit Committee, in exceptional cases. The functioning of vigil mechanism shall be reviewed by the Audit Committee from time to time. None of the Whistle blowers shall be denied access to the Audit Committee of the Board. The Vigil Mechanism (Whistle Blower) Policy is available on the website of the Company at https://www.identixweb.com/wp-content/uploads/2024/10/Vigil-Mechanisam-Whistle-Blower-Policy.pdf.

2. NOMINATION AND REMUNERATION COMMITTEE:

The Board of Directors of our Company has, in pursuance to provisions of Section 178 of the Companies Act, 2013 and rules made thereunder, as amended from time to time, read with SEBI (Listing Obligations and Disclosures Requirement) Regulations, 2015, as applicable, in its meeting held on June 01, 2024 constituted Nomination and Remuneration Committee. The purpose of Nomination and Remuneration Committee is to assist the Board to identify persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down and such other matters specified under various statute.

Composition of Committee, Meeting and Attendance of each Member at Meetings

The Nomination and Remuneration Committee shall meet at least once in a year. The quorum for a meeting of the Nomination and Remuneration Committee shall be one third of total members of the Nomination and Remuneration Committee or Two, whichever is higher, subject to minimum one Independent Director shall be present at the meeting. The Nomination and Remuneration Committee met Four (4) times during the financial year 2024-25 viz; June 03, 2024, July 10, 2024, November 09, 2024, and March 20, 2025. The composition of the Committee and attendance of each Member at Meetings is given below:

Name of Members	Category	Designation in Committee	Number of meetings during the financial year 2024-25
			Held	Eligible to attend	Attended
Mrs. Archana Bhayani	Non-Executive Independent Director	Chairperson	4	4	4
Mr. Niravkumar Donda	Non-Executive Independent Director	Member	4	4	4
Mrs. Hiralben Lakhani	Non-Executive Director	Member	4	4	4

The Company Secretary of the Company is acting as Secretary to the Nomination and Remuneration Committee. The terms reference of Nomination and Remuneration Committee are briefed hereunder;

Terms of reference

1. Formulation of the criteria for determining qualifications, positive attributes and independence of a director and recommend to the Board a policy, relating to the remuneration of the directors, key managerial personnel and other employees;

2. Formulation of criteria for evaluation of Independent Directors and the Board;

3. To ensure that the relationship of remuneration to performance is clear and meets appropriate performance benchmarks; and

4. Identifying persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down, and recommend to the Board of Directors their appointment and removal and shall carry out evaluation of every director‘s performance.

5. To specify the manner for effective evaluation of performance of Board, its committees and individual directors to be carried out either by the Board, by the Nomination and Remuneration Committee or by an independent external agency and review its implementation and compliance;

Nomination and Remuneration Policy:

Nomination and Remuneration Policy in the Company is designed to create a high-performance culture. It enables the Company to attract motivated and retained manpower in competitive market, and to harmonize the aspirations of human resources consistent with the goals of the Company. The Company pays remuneration by way of salary, benefits, perquisites and allowances to its Executive Directors and Key Managerial Personnel. Annual increments are decided by the Nomination and Remuneration Committee within the salary scale approved by the members and are effective from April 01, of each year. Key points of the Nomination and Remuneration Policy are; a. Policy on Appointment of Directors, Key Managerial Personnel and Senior Management Personnel: o The policy is formulated to identify and ascertain the integrity, qualification, expertise and experience of the person for appointment as Director, Key Managerial Personnel and Senior Management personnel and recommend to the Board for his / her appointment. o A person should possess adequate qualification, expertise and experience for the position he/ she is considered for appointment. o In case of appointment of Independent Director, the Committee shall satisfy itself that number of Boards on which such Independent Director serves, is restricted to applicable regulations in force. b. Policy on remuneration of Director, KMP and Senior Management Personnel:

The Companys remuneration policy is driven by the success and performance of Director, KMP and Senior Management Personnel vis-a-vis the Company. The Company follows mixed of fixed pay, benefits and performance based variable pay. The Company pays remuneration by way of salary, benefits, perquisites and allowance. The remuneration and sitting fees paid by the Company are within the salary scale approved by the Board and Shareholders. The Nomination and Remuneration Policy, as adopted by the Board of Directors, is placed on the website of the Company at https://www.identixweb.com/wp-content/uploads/2024/10/Nomination-and-Remuneration-Policy.pdf.

Remuneration of Directors:				( In Lakhs)
Name of Directors	Designation	Salary	Sitting Fees	Perquisite	Total
Mr. Priyankkumar Savani	Chairman & Managing Director	30.64	-	-	30.64
Mr. Ankur Lakhani	Whole-Time Director	28.25	-	-	28.25
Mrs. Hiralben Lakhani	Non-Executive Director	-	1.00	-	1.00
Mr. Niravkumar Donda	Chairman & Managing Director	-	0.90	-	0.90
Mrs. Archana Bhayani	Whole-Time Director	-	0.90	-	0.90
Mr. Rohitkumar Dabhi	Non-Executive Director	-	0.45	-	0.45

3. STAKEHOLDERfS RELATIONSHIP COMMITTEE

The Board of Directors of our Company has, in pursuance to provisions of Section 178 of the Companies Act, 2013 and rules made thereunder, as amended from time to time, read with SEBI (Listing Obligations and Disclosures Requirement) Regulations, 2015, as applicable, in its meeting held on June 01, 2024 constituted Stakeholders Relationship Committee for considering and resolving the grievances of security holders of the Company. The main focus of Stakeholders Relationship Committee is on the redressal of Shareholders / Investors Grievances, if any, like Transfer / Transmission / Demat of Shares; Loss of Share Certificates; Non-receipt of Annual Report; Dividend Warrants; etc. The Committee also oversees the performance of the Registrar & Transfer agents of the Company relating to the investors services and recommends measures for improvement.

Composition of Committee, Meetings and Attendance of each Member at Meetings

The Stakeholders Relationship Committee shall meet at least once in a financial year. The quorum shall be one third of total members of the Stakeholders Relationship Committee or Two, whichever is higher, subject to minimum one Independent Director. The Stakeholders Relationship Committee met on March 20, 2025. The composition of the Committee and attendance of each Member at Meetings is given below:

Name of Members	Category	Designation	Number of meetings during the financial year 2024-25
		in Committee	Held	Eligible to attend	Attended
Mrs. Archana Bhayani	Non-Executive Independent Director	Chairperson	1	1	1
Mr. Niravkumar Donda	Non-Executive Independent Director	Member	1	1	1
Mr. Priyankkumar Savani	Chairman and Managing Director	Member	1	1	1

Company Secretary and Compliance officer of the Company shall provide secretarial support to the Committee. The terms reference of Stakeholders Relationship Committee are briefed hereunder;

Terms of Reference

1. Efficient transfer of shares; including review of cases for refusal of transfer / transmission of shares;

2. Redressal of shareholder and investor complaints like transfer of Shares, non-receipt of balance sheet, non-receipt of declared dividends etc.;

3. Issue duplicate/split/consolidated share certificates;

4. Dematerialization/Rematerialization of Share;

5. Review of cases for refusal of transfer / transmission of shares and debentures;

6. Reference to statutory and regulatory authorities regarding investor grievances and to otherwise ensure proper and timely attendance and redressal of investor queries and grievances; Provided that inability to resolve or consider any grievance by the Stakeholders Relationship Committee in good faith shall not constitute a contravention of Section 178 of Companies Act, 2013 or any subsequent modification(s) or amendment(s) thereof.

7. Such other matters as may be required by any statutory, contractual or other regulatory requirements to be attended to by such committee from time to time.

4. CORPORATE SOCIAL RESPONSIBILITY COMMITTEE

As per the audited standalone financial statement for financial year 2024-25, the Company has crossed net profit threshold provided in Section 135 of the Companies Act, 2013 and CSR provisions are applicable to the Company from financial year 2025-26 onwards. Accordingly, in compliance with the provisions of Section 135 of the Companies Act, 2013 and Rules made thereunder, the Board of Directors of the Company has constituted a CSR Committee. The Composition of the Corporate Social Responsibility Committee as on date of report is as under:

Name of Members	Category	Designation in Committee
Mr. Priyankkumar Savani	Chairman and Managing Director	Chairperson
Mr. Ankur Lahani	Whole-Time Director	Member
Mrs. Archana Bhayani	Non-Executive Independent Director	Member

The CSR Policy may be accessed at the web link https://www.identixweb.com/wp-content/uploads/2025/08/CORPORATE-SOCIAL-RESPONSIBILITY-POLICY.pdf.

The terms of reference of the Committee inter alia comprises of the following:

Terms of Reference a) Formulate and recommend to the Board, a "Corporate Social Responsibility Policy" which shall indicate the activities to be undertaken by our Company as specified in Schedule VII of the Companies Act, 2013 and the rules made thereunder, as amended, monitor the implementation of the same from time to time, and make any revisions therein as and when decided by the Board; b) Review and recommend the amount of expenditure to be incurred on the activities referred to in clause (a) and the distribution of the same to various corporate social responsibility programs undertaken by our Company; c) monitor the Corporate Social Responsibility Policy of the company from time to time; d) Ensure that the activities as are included in Corporate Social Responsibility Policy of the company are undertaken by the company; e) Identify corporate social responsibility policy partners and corporate social responsibility policy programmes; f) Delegate responsibilities to the corporate social responsibility team and supervise proper execution of all delegated responsibilities; g) Review and monitor the implementation of corporate social responsibility programmes and issuing necessary directions as required for proper implementation and timely completion of corporate social responsibility programmes; h) Assistance to the Board to ensure that our Company spends towards the corporate social responsibility activities in every Fiscal, such percentage of average net profit/ amount as may be prescribed in the Companies Act, 2013 and/ or rules made thereunder; i) Providing explanation to the Board if our Company fails to spend the prescribed amount within the financial year; j) Providing updates to our Board at regular intervals of 6 months on the corporate social responsibility activities; k) Any other matter as the Corporate Social Responsibility Committee may deem appropriate after approval of the Board or as may be directed by the Board, from time to time; and l) Exercise such other powers as may be conferred upon the Corporate Social Responsibility Committee in terms of the provisions of Section 135 of the Companies Act. m) Carrying out any other function as assigned by the Board of Directors from time to time. Since, CSR obligation is being attracted in financial year 2025-26 first time, Annual Report on CSR activities is not applicable for financial year 2024-25.

PUBLIC DEPOSIT

The Company has not accepted any deposits from Shareholders and Public falling within the ambit of Section 73 of the Companies Act, 2013 and rules made there under. Hence, the directives issued by the Reserve Bank of India & the Provision of Section 73 to 76 of the Company Act, 2013 or any other relevant provisions of the Act and the Rules there under are not applicable.

PARTICULARS OF LOANS, GUARANTEES, INVESTMENTS & SECURITY

Details of Loans, Guarantees, Investments and Security covered under the provisions of Section 186 of the Companies Act, 2013 are given in the notes to the Financial Statement. The Company has complied with the applicable provisions of Section 186 of the Act during the under review. During the year under review, the Company has granted total 346.36 Lakhs as Unsecured Loan to its subsidiary Munim ERP Private Limited.

LOAN FROM DIRECTORS:

The Company had accepted loan of 27.48 Lakhs during the financial year 2024-25 from Promoter - Directors of the Company.

DEBENTURES:

As on March 31, 2025, the Company does not have any debentures.

CREDIT RATING:

The Company has not availed any rating.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

A. Conservation of energy i.) The steps taken or impact on conservation of energy:

No major steps have been taken by the Company. However, the Company continues its endeavor to improve energy conservation and utilization. ii.) The steps taken by the Company for utilizing alternate sources of energy: The Company has not installed any alternate source of energy running on renewable energy source. iii.) The capital investment on energy conservation equipment: Nil B. Technology absorption i.) The effort made towards technology absorption No major efforts have been made by the Company. ii.) The benefit derived like product improvement, cost reduction, product development or import substitution N.A. iii.) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year) a. The details of technology imported: Nil b. The year of import: N.A. c. Whether the technology has been fully absorbed: N.A. iv.) If not fully absorbed, areas where absorption has not taken place, and the reasons thereof: Not Applicable v.) The expenditure incurred on Research and Development: Nil C. Foreign Exchange Earnings & Expenditure - i.) Details of Foreign Exchange Earnings ( In Lakhs)

Sr. No. Particulars	F.Y. 2024-25	F.Y. 2023-24
1. Exports of Services	633.02	593.67

ii.) Details of Foreign Exchange Expenditure: Nil

UTILIZATION OF PROCEEDS OF PREFERENTIAL ISSUE / IPO

The Company has not raised any fund during financial year 2024-25. The details of Utilization of fund raised through issue of equity shares during F.Y. 2023-24 are given hereunder;

Original Object	Modified Object, if any	Original Allocation ( in Lakhs)	Modified allocation, if any	Funds Utilized ( in Lakhs)	Amount of Deviation / Variation	Remarks if any
To augment our capital base, to meet increased working capital requirements,	--	282.95	--	282.95	--	--
Development and Marketing Cost, Capital Expenditure and the General Corporate purpose.

Post closure of financial year 2024-25, the Company came up with an Initial Public Issue of 3080000 equity shares of 10.00 each at a price of 54 per equity share including a share premium of 44 per equity share aggregating to 1663.20 Lakhs. The proceeds of the issue are being utilized to meet the various Objects of the Issue as mentioned in the Prospectus. Since, the proceeds have been received after closure of financial year, no details utilization are given in this report. However, the same will be published along with financial result for the half year ended on September 30, 2025.

RELATED PARTIES TRANSACTION

There are no materially significant Related Party Transactions made by the Company with Promoters, Directors, Key Managerial Personnel which may have a potential conflict with the interests of the Company at large. All Related Party Transactions shall be placed before the Audit Committee and the Board for approval, if required. Prior omnibus approval of the Audit Committee shall be obtained for the transactions which are of a foreseen and repetitive in nature. All Related Party Transactions entered into during the financial year were on an arms length basis and were in the ordinary course of business. Your Company had not entered into any transactions with the related parties which could be considered material in terms of Section 188 of the Companies Act, 2013. Particulars of contracts or arrangements with related parties referred to in Section 188(1) of the Companies Act, 2013, in the prescribed Form AOC-2 is annexed to this Report as Annexure A.

There was no contracts, arrangements or transactions which was not executed in ordinary course of business and/or at arms length basis.

SUBSIDIARIES/JOINT VENTURE/ASSOCIATE COMPANY

Your Company has two subsidiaries named Munim ERP Private Limited and Identixweb LLC*. Munim ERP Private Limited, Subsidiary of Identixweb Limited, located in Surat, India, is a company specializing in accounting and GST compliance software, particularly focused on ERP (Enterprise Resource Planning) solutions for various industries. Established to transform business management through technology. * Our Company is under process of subscribing of equity shares of Identixweb LLC, U.S.A. (Delaware), for which consideration pertaining to subscribing of equity shares is under process. On Account of no operation by Identixweb LLC, U.S.A. (Delaware), its accounts have not been consolidated. Munim ERP Private Limited achieved turnover of 55.93 Lakhs during financial year 2024-25. The loss before tax stood at 78.60 Lakhs making net loss for financial year 2024-25 of 78.60 Lakhs. Munim ERP Private Limited has not declared any dividend for Financial Year 2024-25. The annual accounts of Munim ERP Private Limited have been consolidated with the accounts of the Company for Financial Year 2024-25.

The financial performance of Subsidiary and Associate Companies in prescribed Form AOC-1 is annexed to this Report as Annexure B.

PARTICULAR OF EMPLOYEES

The ratio of the remuneration of each executive director to the median of employees remuneration as per Section 197(12) of the Companies Act, 2013, read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed to this Report as Annexure C.

The statement containing names of top ten employees in terms of remuneration drawn and the particulars of employees as required under Section 197(12) of the Act read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided in a separate annexure forming part of this report. Further, the report and the accounts are being sent to the Members excluding the aforesaid annexure. In terms of Section 136 of the Act, the said annexure is opened for inspection in electronic form. Any Member interested in obtaining a copy of the same may write to the Company Secretary.

DETAILS OF THE DESIGNATED OFFICER:

Ms. Pooja Shah, Company Secretary & Compliance officer of the company is acting as Designated Officer under Rule (9) (5) of the Companies (Management and Administration) Rules, 2014.

WEB LINK OF ANNUAL RETURN

The link to access the Annual Return is https://www.identixweb.com/wp-content/uploads/2024/06/Annual-Return-2024-25.pdf.

SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

To foster a positive workplace environment, free from harassment of any nature, we have institutionalized the Anti-Sexual Harassment Initiative (ASHI) framework, through which we address complaints of sexual harassment at all the workplaces of the Company. Our policy assures discretion and guarantees non-retaliation to complainants. We follow a gender-neutral approach in handling complaints of sexual harassment and we are compliant with the law of the land where we operate. The Company has setup an Internal Complaints Committee (ICC) for redressal of Complaints. During the financial year 2024-25, the Company has received Nil complaints on sexual harassment, out of which Nil complaints have been disposed off and Nil complaints remained pending as of March 31, 2025.

MATERNITY BENEFIT:

The Company has complied with the provisions related to the Maternity Benefit Act, 1961.

COMPLIANCE WITH THE PROVISIONS OF SECRETARIAL STANDARD 1 AND SECRETARIAL STANDARD 2:

The applicable Secretarial Standards, i.e. SS-1 and SS-2, relating to ‘Meetings of the Board of Directors and ‘General Meetings, respectively, have been duly complied by your Company.

MAINTENANCE OF COST RECORDS

In terms of Section 148 of the Companies Act, 2013 read with Companies (Cost records and audits) Rules, 2014, the Company is not required to maintain the cost records and accordingly the Company has not maintained the Cost record.

SECRETARIAL AUDITOR AND THIEIR REPORT

The Company has appointed M/s. Hardik Jetani & Associates, Practising Company Secretaries, to conduct the secretarial audit of the Company for 3 financial years commencing from F.Y. 2024-25 to F.Y. 2026-27, as required under Section 204 of the Companies Act, 2013 and Rules thereunder. The Secretarial Audit Report for the financial year 2024-25 is annexed to this report as an Annexure D.

The Secretarial Auditors Report does not contain any qualification, reservation or adverse remark except filing of certain e-forms with Registrar of Companies beyond the statutory time period. The Board hereby states that necessary e-forms have been submitted with additional fess. Due to clerical omission, the said e-forms could not be submitted in time. The Company is taking necessary preventive actions for future.

STATUTORY AUDITOR AND THEIR REPORT

During the year review, M/s. Rahul Mistri And Co., Chartered Accountants, Gandhinagar (FRN: 147586W) has resigned from the post of Statutory Auditors of the Company due pre-occupation in other assignments as on June 03, 2024. M/s. Shah Teelani & Associates, Chartered Accountant, Ahmedabad (FRN: 133549W) were appointed as Statutory Auditors of Company to fill up the casual vacancy at the Extra-ordinary General Meeting held on June 27, 2024, from the conclusion of Extra-ordinary General Meeting held on June 27, 2024 until the conclusion of the 7^th Annual General Meeting and that they conducted the Statutory Audit of the financial year 2024-25. M/s. Shah Teelani & Associates, Chartered Accountants, Ahmedabad (FRN: 133549W) were appointed as the Statutory Auditors of Company in the 7^th Annual General Meeting of the Company held on September 30, 2024 to hold office from the conclusion of the 7^th Annual General Meeting of the Company until the conclusion of the 8^th Annual General Meeting of the Company to be held in the year 2025 at such remuneration plus applicable taxes and reimbursement of out-of-pocket expenses in connection with the Audit as may be mutually agreed between the Board of Directors of the Company and the Auditors. The Notes to the financial statements referred in the Auditors Report are self-explanatory and therefore do not call for any comments under Section 134 of the Companies Act, 2013. The Auditors Report does not contain any qualification, reservation or adverse remark. The Auditors Report is enclosed with the financial statements in this Annual Report. Further, The Company has received the consent & certificate from M/s. A K Ostwal & Co., Chartered Accountants, Surat (FRN: 107200W) to the effect that the appointment if made, would be within prescribed limits under Section 139 of the Companies Act 2013. The Audit Committee and the Board of Directors recommends the appointment of M/s. A K Ostwal & Co., Chartered Accountants, Surat (FRN: 107200W) as Statutory Auditor of the Company to hold office as such from the conclusion of 8th AGM till the conclusion of the 13th AGM to be held in the year 2026.

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

Though the various risks associated with the business cannot be eliminated completely, all efforts are made to minimize the impact of such risks on the operations of the Company. Necessary internal control systems are also put in place by the Company on various activities across the board to ensure that business operations are directed towards attaining the stated organizational objectives with optimum utilization of the resources. Apart from these internal control procedures, a well-defined and established system of internal audit shall be in operation to independently review and strengthen these control measures, which shall be carried out by an experience auditor. The audit shall be based on an internal audit plan, which is reviewed each year in consultation with the statutory auditor of the Company and the audit committee. The conduct of internal audit shall be oriented towards the review of internal controls and risks in its operations. Your Company has also put in place adequate internal financial controls with reference to the financial statements commensurate with the size and nature of operations of the Company. During the year, such controls were tested and no material discrepancy or weakness in the Companys internal controls over financial reporting was observed.

REPORTING OF FRAUD

The Auditors of the Company have not reported any fraud as specified under Section 143(12) of the Companies Act, 2013.

MATERIAL CHANGES AND COMMITMENT

There have been no material changes and commitments for the likely impact affecting financial position between end of the financial year and the date of the report except the changes in KMP, Directors, address of Registered office and Authorized Capital as stated above. The Company come up with an Initial Public Offer by way of Fresh Issue and made allotment of total 3080000 equity shares of 10.00 each at a price of 54 per equity share including a share premium of 44 per equity share aggregating to 1,663.20 Lakhs. The requisite approval of the shareholders has been obtained by the Company vide special resolution passed by the company on July 09, 2024. In this regard, the requisite approval of stock exchange had been obtained by the Company. The Company got listed on the SME Platform BSE Limited on April 03, 2025.

SIGNIFICANT AND MATERIAL ORDERS

There are no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and Companys operations in future.

CORPORATE GOVERNANCE

Your Company strives to incorporate the appropriate standards for corporate governance. However, pursuant to Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Company is not required to mandatorily comply with the provisions of certain regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and therefore the Company has not provided a separate report on Corporate Governance. However, Company is complying with few of the exempted regulations voluntarily and details of same are provided in this report under the respective heading.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In terms of Regulation 34, and Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 a review of the performance of the Company, for the year under review, Management Discussion and Analysis Report, is presented in a separate section forming part of this Annual Report.

WEBSITE:

As per Regulation 46 of SEBI (LODR) Regulations, 2015, the Company has maintained a functional website namely "www.identixweb.com" containing basic information about the Company. The website of the Company is also containing information like Policies, Shareholding Pattern, Financial Results and information of the designated officials of the Company who are responsible for assisting and handling investor grievances for the benefit of all stakeholders of the Company, etc.

PREVENTION OF INSIDER TRADING:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the Companys shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the Trading Window is closed. The Board is responsible for implementation of the Code.

LARGE ENTITY:

The Board of Directors of the Company hereby confirm that the Company is not a Large Corporate entity in terms of Regulation 50B of SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 (NCS Regulations).

LISTING FEES

The Equity Shares of the Company are listed on SME Platform of BSE Limited and the Company has paid the applicable listing fees to the Stock Exchange till date.

RISK MANAGEMENT

A well-defined risk management mechanism covering the risk mapping and trend analysis, risk exposure, potential impact and risk mitigation process is in place. The objective of the mechanism is to minimize the impact of risks identified and taking advance actions to mitigate it. The mechanism works on the principles of probability of occurrence and impact, if triggered. A detailed exercise is being carried out to identify, evaluate, monitor and manage both business and non-business risks.

PROCEEDINGS INITIATED/PENDING AGAINST YOUR COMPANY UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016:

There are no proceedings initiated/pending against your Company under the Insolvency and Bankruptcy Code, 2016 which materially impact the Business of the Company.

INSURANCE:

The assets of your Company have been adequately insured.

DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME SETTLEMENT AND VALUATION WHILE AVAILING LOAN FROM BANKS AND FINANCIAL INSTITUTIONS:

During the year under review, there has been no one time settlement of loans taken from banks and financial institution.

INDUSTRIAL RELATIONS (IR):

The Company continues to maintain harmonious industrial relations. Company periodically reviews its HR policies and procedures to aid and improve the living standards of its employees, and to keep them motivated and involved with the larger interests of the organization. The Company has systems and procedures in place to hear and resolve employees grievances in a timely manner, and provides avenues to its employees for their all-round development on professional and personal levels. All these measures aid employee satisfaction and involvement, resulting in good Industrial Relations.

GENERAL DISCLOSURE:

Your Directors state that the Company has made disclosures in this report for the items prescribed in section 134 (3) of the Act and Rule 8 of The Companies (Accounts) Rules, 2014 and other applicable provisions of the act and listing regulations, to the extent the transactions took place on those items during the year.

APPRECIATIONS AND ACKNOWLEDGEMENT:

Your Directors wish to place on record their sincere appreciation for significant contributions made by the employees at all levels through their dedication, hard work and commitment, enabling the Company to achieve good performance during the year under review. Your Directors also take this opportunity to place on record the valuable co-operation and support extended by the banks, government, business associates and the shareholders for their continued confidence reposed in the Company and look forward to having the same support in all future endeavors.

Registered office:

1st Floor, Plot No. 240, C. S.

No. 1730, Nehru Nagar, L. H.

Road, Sy. No. 46/A+2, TPS-4,

Surat 395006, Gujarat, India.

 

By order of the Board of Directors

For, IDENTIXWEB LIMITED

CIN: U72100GJ2017PLC098473

 

Priyankkumar Savani	Ankur Lakhani
Chairman & Managing Director	Whole-Time Director
DIN: 08562699	DIN: 08562760

 

Place: Surat

Date: September 04, 2025