Inland Printers Ltd Directors Report

To, The Members,

Your Directors present their 46^th Annual Report along with the Audited statements of Account for the year ended March 31, 2026.

1. FINANCIAL RESULTS

The financial results are briefly indicated below:

(In lakh)

PARTICULARS	YEAR ENDED
	March 31, 2026	March 31, 2025
Total Income	1.67	24.13
Total Expenditure	38.25	39.10
Profit/(Loss) after Taxation	(36.62)	(15.03)
Profit/(Loss) Brought Forward	(36.62)	(15.03)
Balance carried to Balance Sheet	(36.62)	(15.03)

2. REVIEW OF OPERATIONS

The Company has incurred a Loss of Rs. 36,61,542/- during the year as compared to the Loss of previous year of Rs. 15,02,878/-

3. OPERATIONS AND FUTURE PLANS:

The Company during the year under review could not conduct any major business activity due to the financial constraints. The Company is in the process of identifying the project which would benefit the company and shareholders at large.

MATERIAL EVENT DURING THE YEAR

AMALGAMATION

Your Board of Directors wish to inform you that the by the National Company Law Tribunal, Mumbai Bench ("NCLT") vide order dated 28th September, 2026 has sanctioned Scheme of Amalgamation of Parthiv Corporate Advisory Private Limited (Transferor Company) with Inland Printers Limited (Transferee Company) and their respective Shareholders under Section 230 to 232 of the Companies Act, 2013 and the Rules made thereunder. The Transferor Company shall stand dissolved without winding-up upon filing of certified copy of NCLT Order dated 28th September, 2026 in form INC- 28 with the Registrar of Companies, Maharashtra, Mumbai. The Appointed date fixed for the said Scheme of Amalgamation is 1st January, 2023.

However, the Board of Directors of the Company have decided to give effect to the Scheme in the next financial year that is 2026-27 as the order was received in the fag end of September, 2026. Hence the current year financial statements have been prepared on standalone basis without merging the financials of Parthiv Corporate Advisory Private Limited, Transferor Company.

4. CHANGES IN THE NATURE OF BUSINESS, IF ANY:

There have been no material changes in the nature of business during the period under review.

5. DIVIDEND

In view of the Accumulated Loss as stated above, the Board of Directors regrets its inability to recommended payment of any dividend for the year under review.

6. DEPOSITS

The company has not accepted any deposits from the Public within the purview of provisions of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposit) Rules, 2014 during the year under review and no amount of principal or interest on fixed deposit was outstanding as on the Balance sheet date.

7. DIRECTORS

Director retire by rotation:

In terms of the provisions of the Companies Act, 2013 (the Act), Mr. Kaushik Ratanshi Bhadra, Non-Executive Director of the Company, retires by rotation and being eligible, offers himself for re-appointment at the ensuing Annual General Meeting.

Change in the Board during the year:

There has been no change in the composition of the Board of Directors of the Company during the financial year 2025-26 and after the close of the Financial Year 2025-26 and up to the date of this Report.

8. KEY MANAGERIAL PERSONNEL:

Name of the KMP	Designation
1 Mr. Kishor Krushna Sorap	Whole-time Director
2 Bhavesh Ramanlal Patel	Chief Financial Officer & Director
3 Krishana Sharma	Company Secretary

During the Period under review and till the date of Signing of this report, there has been no change in KMP.

9. REMUNERATION TO DIRECTORS:

Details pertaining to the remuneration of the Directors as required under Schedule V to the Companies Act, 2013 have been provided in the Corporate Governance Report forming part of this Annual Report.

10. RATIO OF REMUNERATION OF EACH DIRECTOR TO THE MEDIAN EMPLOYEES:

The information / details pertaining to remuneration to be disclosed by listed companies in terms of Section 197(12) of the Companies Act, 2013, read with Rule 5(1) of the

Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 have been provided in an annexure which forms part of the Directors Report.

11. NOMINATION AND REMUNERATION POLICY:

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a policy for selection and appointment of Directors, Senior Management and their remuneration. The policy is in compliance with the provisions of sub-section (3) of Section 178 of the Companies Act, 2013 and is available on the Company⁷ s website at www.inlandprinters.in

12. DECLARATION BY INDEPENDENT DIRECTORS:

Pursuant to Section 149(7) of the Act, Regulation 16(1)(b) and Regulation 25(8) of the Listing Regulations, the Independent Directors have provided a declaration to the Board of Directors that they meet the criteria of Independence as prescribed in the Act and the Listing Regulations, and are not aware of any situation which exists or may be reasonably anticipated that could impair or impact their ability to discharge duties as an Independent Director with an objective independent judgement and without any external influence. Further, veracity of the above declarations has been assessed by the Board, in accordance with Regulation 25(9) of the Listing Regulations.

The Board is of the opinion that the Independent Directors hold highest standards of integrity and possess the relevant proficiency, expertise and experience to qualify and continue as Independent Directors of the Company and are Independent from the Management of the Company.

Further, in terms of Section 150 of the Act read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014, as amended by Ministry of Corporate Affairs (MCA), all the Independent Directors have confirmed that they have registered themselves with databank maintained by The Indian Institute of Corporate Affairs (IICA). These declarations/confirmations have been placed before the Board.

13. DISCLOSURE OF FRAUDS REPORTED UNDER SECTION 143 OF COMPANIES ACT, 2013:

During the year under review, the Directors of the Company do not observe any contract, arrangement and transaction which could result in a fraud; the director hereby ensures that the Company has not been encountered with any fraud or fraudulent activity during the financial year 2025-2026.

14. COMMITTEES OF BOARD:

As on 31^st March, 2026, the Company has following Statutory Committees:

a. Audit Committee

b. Nomination and Remuneration Committee

c. Stakeholder Relationship Committee

d. Independent Directors Committee

The Board decides the terms of reference for these companies. The details as to the composition, terms of reference, number of meetings and related attendance, etc. of these Committees are provided in detail, in the Corporate Governance Report which forms a part of this Annual Report.

15. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS AND COMMITTEES:

The Board meets at regular intervals to discuss and decide on the Companys policies and strategy apart from other Board matters.

The notice of Board Meeting is given well in advance to all the Directors. The Agenda of the Board/ Committee meetings is generally circulated at least a week prior to the date of the meeting.

During the Financial Year 2025-26, Ten (10) Board Meetings and Five (5) Audit committee meetings were convened and held. Details of each such other committee meetings are given in the Corporate Governance Report which forms a part of this Annual Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

Resolution by Circular

Apart from various meetings, the Board also considered and approved certain matters by circular resolutions, which were ratified at the next meeting of the Board as required in terms of the Act.

Independent Directors Meeting

In accordance with the provisions of Listing Regulation and Companies Act, the Independent Directors of your Company met once during the financial year, on July 28, 2026 without the attendance of Non-Independent Directors and members of the management. The Independent Directors reviewed the performance of the Non- Independent Directors, CFO, CEO, Committees and the Board as a whole along with the performance of the Chairman of your Company, taking into account assessment of the quality, quantity and timeliness of flow of information between the Company management & the Board and free flow of discussion on any matter that is necessary for the Board to effectively and reasonably perform their duties.

Relationship between Directors

None of the Directors on the Board are related to each other.

16. PERFORMANCE EVALUATION OF BOARD, COMMITTEES & DIRECTORS:

Pursuant to the provisions of the Act and the Listing Regulations, the Board has carried out an annual performance evaluation of its own performance, the Directors individually as well as the evaluation of the working of its Committees

The performance of Board, Committees and Individual Directors was evaluated on the basis of criteria such as:

• Evaluation of the Board was based on criteria such as composition and role of the Board, Board communication and relationships, functioning of Board Committees, review of performance of Executive Directors, succession planning, strategic planning, etc.

• Evaluation of Committees was based on criteria such as adequate independence of each Committee, frequency of meetings and time allocated for discussions at meetings, functioning of Board Committees and effectiveness of its advice/recommendation to the Board, etc.

• Evaluation of Directors was based on criteria such as participation and contribution in Board and Committee meetings, representation of shareholder interest and enhancing shareholder value, experience, and expertise to provide feedback and guidance to top management on business strategy, governance, risk and understanding of the organizations strategy, etc.

• Guidance Note on Board Evaluation issued by the Securities and Exchange Board of India on January 5, 2017

17. MANAGEMENT DISCUSSION AND ANALYSIS

A Management Discussion and Analysis on the business and operations of the Company forming part of this report is given as a separate section of the annual report.

18. DIRECTORS RESPONSIBILITY STATEMENT

The Board of Directors hereby confirms:

That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanations relating to material departures made from the same:

a) That 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 or Loss of the Company for that period.

b) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

c) That the Directors have prepared the Annual accounts on a going concern basis.

d) The directors have laid down Internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

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

19. COST AUDITOR:

The provisions of Cost Audit as prescribed under section 148 of the Act, are not applicable to the Company.

20. AUDITORS Statutory Auditors:

M/s YRKDAJ and Associates LLP., Chartered Accountants Mumbai having Firm Registration Number (FRN: 1050477W) were appointed as statutory auditors of the Company At the AGM Held on 25^th September, 2024 and shall hold office till the conclusion of the 49^thAGM of the Company.

Secretarial Audit:

In accordance with the recent amendments to the Listing Regulations, the Board has recommended to the members for their approval, appointment of M/s Yatin Sangani and Associates, Practising Company Secretary, as the Secretarial Auditor of the Company, for a term of 5 (five) consecutive financial years commencing from the financial year 2025-26 to the financial year 2029-30.

21. AUDITORS REPORT:

Since notes to account are self-explanatory, no further explanation is given by the Board as such except the fact that the Board has prepared the accounts on the basis of going concern basis. This has been done in view of the plans of the Board which envisage the revival of business in the Company.

The Auditors Report does not contain any qualification, reservation or adverse remark on the financial statements for the year ended 31st March, 2026. However, the Annexure A of the Independent Audit Report contains the remark in respect of pending statutory dues:

Undisputed statutory dues including Goods and Services tax, provident fund, employees state insurance, income-tax, sales-tax, service tax, duty of custom, duty of excise, value added tax, cess have been regularly deposited by the company with the appropriate authorities in all cases during the year, except Professional tax. The Board of Directors are taking necessary steps to register with Profession Tax authority and pay the outstanding dues.

Name of the Statute	Nature of the Dues	Amount (Rs.)
Maharashtra State Tax on Professions, Trades, Calling and Employment Act, 1975	Professional Tax - Employees	Rs. 20,500
Maharashtra State Tax on Professions, Trades, Calling and Employment Act, 1975	Professional Tax - Company	Rs. 15,000

22. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

Full particulars of investments, loans, guarantees and securities covered under Section 186 of the Companies Act 2013 provided during the financial year under review has been furnished in Note 5 of the Notes to Accounts which forms part of the financials of the Company.

23. PARTICULARS OF EMPLOYEES:

There were no employees to whom the gratuity or any other retirement benefits were payable during the financial year 2025 -26, by the Company.

24. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

There are no materially significant related party transactions made by the Company with the promoters, Directors or Key managerial personnel which may have a potential conflict of interest with the interest of the Company at large. Form AOC-2 as required under sub-section (3) of section 134 of the Companies Act, 2013 is enclosed vide "Annexure B"

25. SUBSIDIARIES, ASSOCIATE AND JOINT VENTURES:

The Company has no Subsidiaries, Associate or Joint Ventures, during the year under review.

26. PUBLIC RELATIONS:

Your Directors recognize and appreciate the sincere work, dedicated efforts and contribution of all the directors and stakeholders during the year.

27. TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF):

Your Company did not have any funds lying unpaid or unclaimed for a period of seven years. Therefore, there were no funds which were required to be transferred to Investor Education and Protection Fund (IEPF).

28. TRANSFER TO RESERVES:

During the year under review, no amount has been transferred to the reserves pursuant to the provisions of section 134(3)(j) of the Act in view of the losses incurred by the Company.

29. ISSUE OF SHARES:

The Company during the year under review has not issued any Sweat equity shares or shares with differential rights or under Employee stock option scheme nor did it buy back any of its shares.

30. CORPORATE GOVERNANCE:

In terms of Clause 15(2)(a) of SEBI(LODR) Regulations, 2015, the compliance with the Corporate Governance provisions as specified in Regulations 17 to 27 and clauses (b) to (i) of sub regulation (2) of Regulation 46 and para C, D and E of schedule V are not applicable to the Company.

31. EXTRACT OF ANNUAL RETURN:

Pursuant to Section 92 and 134 of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return as on March 31, 2026, is available on Companys website www.inlandprintersltd.com.

32. CASH FLOW STATEMENT:

In conformity with the Indian Accounting Standard - 7 issued by the Institute of Chartered Accountants of India and the provisions of Clause 32 of the Listing Agreement with the BSE Limited, the Cash Flow Statement for the year ended March 31, 2026 is annexed to the accounts.

33. CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:

The provisions of section 135(1) and 135(2) of the Act read with Rule 8 of Companies (CSR) Rules are not applicable to the Company as it is not falling under the criteria mentioned in the Act.

34. RISK MANAGEMENT POLICY

The Company follows a proactive risk management policy, aimed at protecting its assets and employees which at the same time ensuring growth and continuity of its business. Further, regular updates are made available to the Board at the Board meeting and in special cases on ad-hoc basis.

35. 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 persons of the Company, as per SEBI (Prohibition of Insider Trading) Regulations, 2015.

36. MANAGERIAL REMUNERATION

Mr. Kishor Sorap, Whole Time Director of the Company has been paid remuneration as per the details given in the Corporate Governance Report.

37. Particulars of Employees Particulars of Employees

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a statement showing the names of the top ten employees in terms of remuneration drawn and names and other particulars of the employees drawing remuneration in excess of the limits set out in the said rules, forms part of this Report.

Disclosures relating to remuneration and other details as required under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 forms part of this Report.

Having regard to the provisions of the second proviso to Section 136(1) of the Act and as advised, the Annual Report excluding the aforesaid information is being sent to the members of the Company. Any member interested in obtaining such information may address their email to inlandprintersltdgmail.com

38. Conversation Of Energy, Technology Absorption & Foreign Exchange Earnings & Outgo

The information on the conservation of energy, technology absorption and foreign exchange earnings and outgo as stipulated under Section 134(3)(m) of the Act read with Rule 8 of the Companies (Accounts) Rules, 2014, is stated hereunder:

Conservation of energy: -

(I) the steps taken or impact on conservation of energy	Nil
(ii) the steps taken by the Company for utilizing alternate sources of energy	Nil
(iii) the capital investment on energy conservation equipments	Nil

Technology absorption: -

(I) the effort made towards technology absorption	Nil
the benefits derived like product improvement cost reduction product development or import substitution	Nil
in case of imported technology (important during the last three years reckoned from the beginning of the financial year)	Nil
(a) the details of technology imported	-
(b) the year of import;	-
(c) whether the technology been fully absorbed	-
if not fully absorbed, areas where absorption has not taken place, and the reasons thereof	-
(iv) the expenditure incurred on Research and Development	Nil

Foreign Exchange Earnings or outgo in foreign exchange during the FY2025-26:

There was neither any foreign exchange earning nor foreign exchange outgo during the FY2025-26.

39. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. To maintain its objectivity and independence, the Chairman of the Audit Committee of the Board is the authority to whom reporting is made in this regard.

40. VIGIL MECHANISM / WHISTLE BLOWER POLICY:

The Company has established a Vigil Mechanism as per the provisions of section 177(9) of the Act.

41. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS / COURTS, IF ANY:

The Approval of the National Company Law Tribunal ("NCLT") is sought under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 to the Scheme of Amalgamation of Parthiv Corporate Advisory Private Limited ("Transferor Company") with Inland Printers Limited ("Transferee Company) and their respective Shareholders ("Scheme").

42. MATERIAL EVENTS OCCURRING AFTER BALANCE SHEET DATE:

No material changes and commitments affecting the financial position of the Company occurred between the end of the financial year to which these financial statements relate and on the date of this report.

43. CONSTITUTION OF INTERNAL COMPLAINTS COMMITTEE:

Since the number of workers in the Company is less than 10, the Company has not constituted the Internal Complaint Committee as required under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

44. MATERNITY BENEFIT

The Company is committed to upholding the rights and welfare of its employees and ensures full compliance with the provisions of the Maternity Benefit Act, 1961. All eligible women employees are granted maternity benefits in accordance with the Act, including paid leave and other applicable entitlements.

The Company also promotes a supportive and inclusive work environment and is committed to implementing measures that facilitate work-life balance for women employees during and after maternity.

45. OTHERS:

• The details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year along with their status as at the end of the financial year: Not applicable

• The details of difference between amount of the valuation done at the time of one time settlement and the valuation done while taking loan from the Banks or Financial Institutions along with the reasons thereof: Not applicable.

46. GENERAL:

Your Directors state that during the year under review, there were no cases filed or reported pursuant to the sexual harassment of women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

47. LISTING WITH STOCK EXCHANGE:

The Company confirms that it has paid the Annual Listing Fees for the year 2025-2026 to the BSE where the Companys Shares are listed and traded.

48. SECRETARIAL STANDARDS ISSUED BY ICSI:

The Company is in compliance with all the applicable Secretarial Standards as specified by the Institute of Company Secretaries of India (ICSI).

49. INDIAN ACCOUNTING STANDARDS:

The Ministry of Corporate Affairs (MCA) on 16th February 2015, notified that Indian Accounting Standards (Ind AS) are applicable to certain classes of Companies from 1^st April, 2016 with a transition date of April 1, 2015. Ind AS has replaced the previous Indian GAAP prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with Rule 7 of the Companies (Accounts) Rules, 2014. Ind AS is applicable to the Company from 1st April, 2017.

50. RISKS AND CONCERNS:

In todays challenging and competitive environment, strategies for mitigating inherent risks in accomplishing the growth plans of the Company are imperative. The main risks inter alia include strategic risk, operational risk, financial risk and compliances & legal risk.

51. DISCLAIMER:

Certain statement in the management discussion and analysis may be forward looking within the meaning of applicable securities laws and regulations and actual results may differ materially from those expressed or implied. Factors that would make differences to Compan/ s operations include competition, price realization, changes in government policies and regulations, tax regimes, economic development and other incidental factors.

52. ACKNOWLDEGEMENTS:

Your Company and its Directors wish to sincerely thank all the service providers for their continuing support and co-operation.

Your Directors also sincerely thank the shareholders for the confidence reposed by them in the Company and for the continued support and co-operation extended by them.

For and on behalf of Inland Printers Limited
Sd/-	Sd/-
Kishor Krushna Sorap	Bhavesh Ramanlal Patel
Whole Time Director	CFO & Director
DIN.: 08194840	DIN: 07144964
Date: 07/10/2026
Place: Mumbai