Jayant Infratech Ltd Directors Report

TO THE MEMBERS

Your directors have pleasure in presenting the 23rd Annual Report on the business and operations of your company for the year ended on 31st March, 2026 together with the requirements of the Companies Act, 2013 and the rules framed thereunder and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this report covers the financial results and other developments during April 01,2025, to March 31, 2026, in respect of Jayant Infratech Limited.

1. FINANCIAL HIGHLIGHTS:

During the year under review, performance of the company is as under:

(Rupees in lacs)

PARTICULARS	31/03/2026	31/03/2025
Revenue from Operations	11,169.84	12,171.97
Other Income	222.27	177.49
Total Revenue	11,392.11	12,349.47
Finance Cost	190.75	128.66
Depreciation & Amortization	21.71	26.97
Earnings before Tax	1,128.51	1,126.83
Current Tax	275.93	287.21
Short Provision for Tax in earlier years	0.82	0.43
Deferred Tax	7.67	(1.34)
Net Profit After Tax	844.09	840.54

2. STATE OF COMPANY AFFAIRS AND FUTURE OUTLOOK:

The Company is engaged in the development of railway infrastructure, with specialised expertise in the design, drawing, supply, erection and commissioning of 25KV, 50Hz Single Phase Traction Overhead Equipment (OHE) for the electrification of new and existing railway lines. The Company provides comprehensive end-to-end solutions covering engineering, execution and commissioning of railway electrification projects.

During the financial year under review, the Company recorded Revenue from Operations of Rs. 11,169.84 lakhs and Profit After Tax of Rs. 844.09 lakhs, as compared to Rs. 12,171.97 lakhs and Rs. 840.54 lakhs, respectively, in the previous financial year. The lower revenue during the year was primarily attributable to a technical issue in the Indian Railways payment system, due to which bills could not be cleared during the month of March 2026. Despite this, the Company maintained stable profitability and continued to focus on operational efficiency and timely execution of projects. During the year, the Company also strengthened its presence in the railway sector by successfully entering into railway maintenance projects, thereby broadening its service capabilities beyond new infrastructure and electrification works. The experience and credentials gained through these projects have further strengthened the Companys technical and execution capabilities, enabling it to leverage its experience and credentials to pursue larger-scale railway maintenance projects. This expansion represents an important step towards diversifying the Companys revenue base and establishing a broader presence across the railway infrastructure value chain.

The Company remains well-positioned to benefit from the continued focus on railway electrification, infrastructure modernisation, capacity enhancement and maintenance across the country. The Board is confident that the Companys specialised expertise, established credentials and growing capabilities will enable it to capitalise on emerging opportunities and deliver sustainable growth and long-term value to its stakeholders.

3. TRANSFER TO RESERVES

The Board has decided not to transfer any amount to the Reserves for the year under review.

4. ANNUAL RETURN

In terms of Section 92(3) of the Companies Act, 2013 and Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return of the Company is available on the website of the Company - https://www.iayantinfra.com/investors/StatutoryDisclosure/.

5. DIVIDEND

During the year under review, the board of directors do not recommend any dividend in order to strengthen the net worth of the Company by retaining the available surplus for the Year ended on 31st March 2026.

6. CHANGES IN NATURE OF BUSINESS

There has not been any change in the nature of business of the Company during the Financial Year ended on 31st March 2026.

7. ALLOTMENT AND SHARE CAPITAL

During the year under review, the Authorised Share Capital of the Company remained unchanged at Rs. 15,00,00,000 (Rupees Fifteen Crores only), comprising 1,50,00,000 (One Crore Fifty Lakhs) Equity Shares of Rs. 10/- each.

During the financial year, 1,80,000 fully convertible warrants were converted into an equivalent number of Equity Shares, pursuant to the exercise of the conversion option by the respective warrant holders and in accordance with the applicable provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other applicable laws. Consequent upon the aforesaid conversion, the paid-up Equity Share Capital of the Company increased to Rs. 10,33,66,860/-, comprising 1,03,36,686 Equity Shares of Rs. 10/- each, as at March 31, 2026.

8. DEPOSITS

During the year, The Company has not accepted or renewed any amount falling within the purview of provisions of Section 73 of the Companies Act 2013 ("the Act”) read with the Companies (Acceptance of Deposit) Rules, 2014 during the year under review. Hence, the requirement of furnishing details relating to Deposits covered under Chapter V of the Act or the details of Deposits that are not in compliance with Chapter V of the Act is not applicable

9. DEMATERIALISATION OF SHARES

As on March 31st, 2026, all Equity Shares of the Company are held in Dematerialized Form. The breakup of the Equity Shares held in dematerialized and physical form as on 31st March, 2026 is as follows-

MODE	SHARES	% to Capital
Shares in Demat mode with NSDL	68,04,936	65.83
Shares in Demat mode with CDSL	35,31,750	34.17
Shares in Physical mode	0	0.00
Total	103,36,686	100.00

The Company ISIN No. is INE0KR801019, and Registrar and Share Transfer Agent is Bigshare Services Private Limited.

10. MATERIAL CHANGES

During the year under review, 1,80,000 fully convertible warrants, issued on a preferential basis in the previous financial year, were converted into an equivalent number of Equity Shares in accordance with the applicable provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Further, 4,50,000 fully convertible warrants issued on a preferential basis in the previous financial year had been converted into an equivalent number of Equity Shares during the previous financial year. The remaining 15,92,000 warrants, which were not exercised within the prescribed period of 18 months from the date of allotment, were forfeited and accordingly lapsed and stood extinguished in accordance with the applicable regulatory provisions.

11. SUBSIDARY, JOINT VENTURE AND ASSOCIATE COMPANY

Your Company does not have any Subsidiary, Joint Venture or Associate company. Hence submissions of details in Form AOC-1 are not applicable to the Company.

12. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANYS OPERATIONS IN FUTURE:

There was no significant material order passed by the regulators or courts or tribunals impacting the going concern status and companys operation in nature.

13. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

All contracts / arrangements / transactions entered by the Company during the financial year with related parties were in the ordinary course of business and on an arms length basis. During the year, the Company had not entered into any contract / arrangement / transaction with related parties which could be considered material in accordance with the policy of the Company on materiality of related party transactions. Accordingly, the details of material contracts or arrangements or transactions with related parties is annexed here under as “Annexure II." Attention of the members is drawn to the disclosures of transactions with the related parties is set out in Notes to Accounts forming part of the financial statement.

14. DETAILS OF CHANGE IN COMPOSITION OF DIRECTORS OR KEY MANAGERIAL PERSONNEL

A. Director liable to retire by rotation

As per the provisions of Section 152 of the Companies Act, 2013, Mr. Rishi Jashwantrai Karia (DIN: 00288912) director retires by rotation at the forthcoming annual General meeting and, being eligible offers Himself for re-appointment. The Board recommends his re-appointment for the consideration of the members of the Company at the forthcoming Annual General meeting.

15. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO

15.1 Conservation of Energy

a. The steps taken or impact on conservation of energy: The company is putting continues efforts to reduce the consumption of energy and maximum possible saving of energy.

b. The steps taken by the company for utilizing alternate sources of energy: The Company has used alternate source of energy, whenever and to the extent possible.

c. The capital investment on energy conservation equipment: NIL

15.2 Technology Absorption

a. The effort made towards technology absorption: No specific activities have been done by the Company.

b. The benefits derived like product improvement, cost reduction, product development or import substitution: No specific activity has been done by the Company.

c. In the case of imported technology (imported during the last three years reckoned from the beginning of the financial year: N.A.

d. The expenditure incurred on Research & Development: NIL

15.3 Foreign Exchange Earnings and Outgo

There were no Foreign Exchange earnings and outgo during the financial year as required by the Companies (Accounts) Rules, 2014.

16. CORPORATE SOCIAL RESPONSIBILITY

In pursuance of the provision of Section 135 of the Companies Act, 2013, the CSR provisions are applicable to our Company for FY 2025-2026. The Annual Report on CSR Activities is attached with this report as “Annexure IV”.

S. No	Name	Designation	Position in the Committee	Status
1.	Nilesh Jobanputra	Managing Director	Chairman	Continuing
2.	Daksha Jobanputra	Executive Director	Member	Continuing
3.	Ms. Pragya Soni	Independent Director	Member	Resigned w.e.f. 09th June, 2026
4.	Dr. Tavinderpal Singh Arora	Independent Director	Member	Appointed w.e.f. 06th July, 2026

Post the financial year 2025-2026, Ms. Pragya Soni resigned from the Board w.e.f. 09th June, 2026. Subsequently, Dr. Tavinderpal Singh Arora, Independent Director, was appointed as a Member of the CSR Committee in her place w.e.f. 06th July, 2026, and the Committee was accordingly reconstituted.

17. PARTICULARS OF EMPLOYEES

As required under the provisions of Companies Act, 2013 and Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, particulars of employees and related disclosures part of this Annual report as “Annexure II”.

18. GENERAL MEETINGS

During the year under review company held its 22nd Annual General Meeting and the details of which are given as below:

Nature of Meeting	Date and Time	Resolution passed
22nd Annual General Meeting	30th September 2025 at 04:00 P.M	1. To receive, consider and adopt the Audited Standalone Financial Statement of the Company as on March 31st, 2025, together with and Reports of Board of Directors along with its Annexure and Auditors Report thereon. (Ordinary Resolution).
		2. To re-appoint Mrs. Daksha Jobanputra (DIN: 00190145), Director, who retires by rotation and being eligible, offers herself for re-appointment (Ordinary Resolution).
		3. Appointment of Rohtash Agrawal & Co., company secretaries, as the secretarial auditor of the company (Ordinary Resolution).
		4. To approve and extend the limit of related party transactions with any related party within the meaning of Section 2(76) of the act and Regulation 2(1ZB) of the SEBI (LODR) or KMP or relatives of KMP or enterprise where control exists of KMP or relatives of KMP up to a maximum value of Rs. 50 crores (Ordinary Resolution).
		5. To approve Borrowings with an option to convert whole or partly into Shares (Special Resolution).

19. MEETINGS OF THE BOARD

During the year under review, 07(Seven) Board Meetings were held, and details are as under

S. No.	Date of Meeting	Total Number of directors Attended the meeting
1.	28.05.2025	3
2.	30.05.2025	5
3.	24.07.2025	4
4.	05.09.2025	5
5.	13.11.2025	5
6.	07.03.2026	3
7.	11.03.2026	4

The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013 i.e., not more than 120 days from the previous meeting.

20. SEPARATE MEETING OF INDEPENDENT DIRECTORS

As stipulated by the Code of Independent Directors under the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, a separate meeting of the Independent Directors of the Company was held on September 05, 2026, to review the performance of Non-Independent Directors (including the Chairman) and the Board as whole. The Independent Directors also reviewed the quality, content and timeliness of the flow of information between the Management and the Board and its Committees which is necessary to effectively and reasonably perform and discharge their duties. Independent Directors have confirmed that they are not aware of any circumstance or situation which exists or may be reasonably anticipated that could impair or impact their ability to discharge their duties.

Based on the declarations received from the Independent Directors, the Board is of the opinion that the Independent Directors fulfil the conditions specified under the Act and the Regulations and are independent of the management.

21. DIRECTORS RESPONSIBILITY STATEMENT

The Directors Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, shall state -

a) That in the preparation of Annual Accounts, the mandatory Accounting Standards have been followed along with proper explanation relating to material departures.

b) That proper accounting policies have been selected and applied consistently; and, the judgments and estimates that are made are reasonable and prudent so as give a true and fair view of the state of affairs of the company as on 31st March, 2026 and of the Profit of the Company for that period.

c) That proper and sufficient care has been taken for maintenance of adequate accounting records in accordance with the Companies Act, 2013, for safeguarding the assets of the company and preventing and detecting fraud and other irregularities.

d) That the Annual Accounts have been prepared on a going concern basis.

e) That the directors laid down internal financial controls to be followed by the Company and such internal financial controls are adequate and operating effectively.

f) That 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.

22. DECLARATION BY INDEPENDENT DIRECTORS

Pursuant to Section 149 (7) of the Companies Act, 2013 ("the Act”) read with the Companies (Appointment and Qualifications of Directors) Rules, 2014, the Company has received declarations from all the Independent Directors of the Company confirming that they meet the ‘criteria of Independence as prescribed under Section 149 (6) of the Act and Regulation 16 of the Listing Regulations 2015 have submitted their respective declarations as required. The Independent Directors of your Company have confirmed that they are not aware of any circumstance or situation, which could impair or impact their ability to discharge duties with an objective independent judgement and without any external influence.

23. COMPANYS POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION INCLUDING CRITERIA FOR DETERMINING QUALIFICATIONS, POSITIVE ATTRIBUTES, INDEPENDENCE OF A DIRECTOR AND OTHER MATTERS PROVIDED UNDER SUB- SECTION (3) OF SECTION 178

Pursuant to provisions of section 178 of the Companies act, 2013, the nomination and remuneration Committee carried out evaluation of every directors performance and the Board has carried out formal annual evaluation of its own performance and that of its Committees and individual directors has been made. Further, the evaluation of the independent directors was carried out by the entire Board, excluding the director being evaluated.

The directors were satisfied with the evaluation results, which reflect the overall engagement of the Board and its Committees and on the basis of the report of the said evaluation, the present term of appointment of independent directors shall be continued with the Company.

24. COMPOSITION OF THE BOARD

The Board of Directors of the Company (Board) has optimum combination of Executive and Non- Executive Directors comprising Two Executive Directors and three Non- Executive Directors. None of the Directors hold directorship in more than 20 companies nor is a member of more than 10 committees or chairman of more than 5 committees across all the public limited companies in which they are Directors. The composition of the Board is in conformity with Regulation 17 of the SEBI Listing Regulations read with Section 149 and 152 of the Act.

Composition of Board of Director as on 31st March, 2026 is as follows:

S. No	Name	Designation	Date Of Appointment	Date Of Cessation
1.	Daksha Jobanputra	Executive Director	15/01/2022	-
2.	Rishi Jashwantrai Karia	Non-Executive Director	15/01/2022	-
3.	Nilesh Jobanputra	Managing Director	25/01/2022	-
4.	Rahul Chandrakant Pohekar	Independent Director	11/03/2023	-
5.	Pragya Soni	Independent Director	25/08/2023	09th June, 2026.

Ms. Pragya Soni resigned from the Board of Directors w.e.f. 09th June, 2026. Subsequently, Dr. Tavinderpal Singh Arora was appointed as an Independent Director w.e.f. 06th July, 2026.

25. COMMITTEES OF THE BOARD

The Board of Directors has constituted following Committees and their details are hereunder

a) NOMINATION AND REMUNERATION COMMITTEE

As per the provision of section 178, Schedule V and other applicable provisions of Companies Act, 2013 read with rule 6 of the Companies (Meetings of Board and its Power) Rules, 2014, the Board was required to constitute Nomination and Remuneration Committee. Hence, the Board constituted the Nomination and Remuneration Committee which consists of Two Independent Directors and One Non-Executive Director. The detailed composition of the members of the Nomination and Remuneration Committee as on 31st March, 2026 is as follows

S. No	Name	Designation	Position in the Committee
1.	Mr. Rahul Chandrakant Pohekar	Independent Director	Chairman
2.	Mr. Rishi Jashwantrai Karia	Non-Executive Director	Member
3.	Ms. Pragya Soni	Non-Executive Director	Member

Subsequent to the financial year-end, Ms. Pragya Soni resigned from the Board of Directors w.e.f. 09th June, 2026. Subsequently, Dr. Tavinderpal Singh Arora was appointed as an Independent Director and inducted as a Member of the Committee in her place w.e.f. 06th July, 2026, and the Committee was accordingly reconstituted.

b) AUDIT COMMITTEE

As per provision of section 177 and other applicable provisions of Companies Act, 2013 read with rule 6 of the Companies (Meetings of Board and its Power) Rules, 2014, the Board was required to constitute Audit Committee. Hence, the Board constituted the Audit Committee which consists of Two Independent Directors and One Executive Director. The detailed composition of the members of the Audit Committee as on 31st March, 2026 is as follow

S. No	Name	Designation	Position in the Committee
1.	Mr. Rahul Chandrakant Pohekar	Independent Director	Chairman
2.	Mrs. Daksha Jobanputra	Executive Director	Member
3.	Ms. Pragya Soni	Non-Executive Director	Member

Subsequent to the financial year-end, Ms. Pragya Soni resigned from the Board of Directors w.e.f. 09th June, 2026. Subsequently, Dr. Tavinderpal Singh Arora was appointed as an Independent Director and inducted as a Member of the Committee in her place w.e.f. 06th July, 2026, and the Committee was accordingly reconstituted.

c) STAKEHOLDER RELATIONSHIP COMMITTEE

As per provision of section 178 sub section (5) and other applicable provisions of Companies Act, 2013 read with rule 6 of the Companies (Meetings of Board and its Power) Rules, 2014, the Board was required to constitute Stakeholder Relationship Committee. Hence, the Board constituted the Stakeholder Relationship Committee which consists of Two Independent Directors and One Executive Director. The detailed composition of the members of the Stakeholder Relationship Committee as on 31st March, 2026 is as follows:

S. No	Name	Designation	Position in the Committee
1.	Mr. Rahul Chandrakant Pohekar	Independent Director	Chairman
2.	Mrs. Daksha Jobanputra	Executive Director	Member
3.	Ms. Pragya Soni	Non-Executive Director	Member

Subsequent to the financial year-end, Ms. Pragya Soni resigned from the Board of Directors w.e.f. 09th June, 2026. Subsequently, Dr. Tavinderpal Singh Arora was appointed as an Independent Director and inducted as a Member of the Committee in her place w.e.f. 06th July, 2026, and the Committee was accordingly reconstituted.

26. AUDITORS

i) Statutory Auditors

The Companys Auditors, M/s. Gupta Agarwal & Associates, Chartered Accountants, who were appointed with your approval at the 19th Annual General Meeting for a period of five years, will complete their present term on conclusion of the ensuing 24th Annual General Meeting of the Company.

ii) Secretarial Auditor

The Board had proposed to appoint Mr. Rohtash Agrawal & Co., Practicing Company Secretary to conduct Secretarial Audit. Your board, based on the recommendation of Audit Committee, proposed for the approval of members in this Annual General Meeting, appointment Mr. Rohtash Agrawal & Co., Company Secretary in practice, (FCS: 5537, COP: 4015) and a Peer Reviewed Company Secretary, as the Secretarial Auditor of the company, for performing Secretarial Audit of the company for a period of five consecutive years commencing from 01st April, 2025 till 31st March, 2030 in accordance with the amendment notified in Regulation 24A by way of SEBI (LODR) (Third Amendment) Regulations, 2024, with effect from April 01,2025.

iii) Internal Auditor

The Board of Directors appointed M/s Shrivastava Gupta & Associates, Chartered Accountants, as the Internal Auditor of the Company for the Financial Year 2025-26. Further, considering the continuity of the internal audit function, the Board has re-appointed M/s Shrivastava Gupta & Associates, Chartered Accountants, as the Internal Auditor for the Financial Year 2026-27.

iv) Cost Records and Audit

The Cost Records and Cost Audit provisions under Section 148 of the Companies Act, 2013, read with the applicable rules made thereunder, are applicable to the Company. M/s Yash & Associates, Cost Accountants (Firm Registration No. 005252), has been appointed as the Cost Auditor of the Company for the Financial Years 2025-26 and 2026-

27. As required under the Companies Act, 2013, the remuneration payable to the Cost Auditor is required to be placed before the Members for their ratification at a general meeting. Accordingly, a resolution seeking Members ratification of the remuneration payable to M/s Yash & Associates, Cost Accountants (Firm Registration No. 005252), is included in the Notice convening the Annual General Meeting.

27. AUDITORS REPORT

The observations, if any, made by the Statutory Auditors in their Auditors Report together with the notes to accounts, as appended thereto are self-explanatory and hence does not call for any further explanation. The Auditors Report does not contain any qualification, reservation, adverse remark, or disclaimer.

During the Financial Year 2025-2026, the Auditors have not reported any matter under section143(12) of the Companies Act, 2013, therefore no detail is required to be disclosed under section134(3) (ca) of the Companies Act, 2013.

28. CORPORATE GOVERNANCE

The company is SME Company and listed on SME exchange of BSE Limited therefore, pursuant to Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, the compliance with corporate governance as specified in regulation 17 to 27 and clauses (b) to (i) of sub regulation 2 of regulation 46 and Para C, D and E of Schedule V shall apply to the extent that it does not violate their respective statutes and guidelines or directives issued by the relevant authorities. Hence your company is exempted to comply with aforesaid provisions of the SEBI (LODR) Regulation, 2015 and corporate Governance does not form part of this Boards Report.

29. ADEQUACY OF INTERNAL FINANCIAL CONTROLS

The Company has a well-placed, proper and adequate internal financial control system which ensures that all the assets are safeguarded and protected and that the transactions are authorized recorded and reported correctly. The internal audit covers a wide variety of operational matters and ensures compliance with specific standard with regards to availability and suitability of policies and procedures. During the year no reportable material weakness in the design or operation were observed.

30. CREDIT RATING

Subsequent to the close of the financial year under review, the Company obtained a credit rating from CARE Ratings Limited for its banking facilities aggregating to Rs. 41 Crore. The rating assigned is CARE BBB-; Stable for long-term bank facilities of Rs. 28 Crore and CARE BBB-; Stable / CARE A3 for long-term/short-term bank guarantee facilities of Rs. 13 Crore.

31. DETAIL OF FRAUD REPORTED BY AUDITORS

There is no fraud reported by the auditors of the company

32. MANAGEMNET DISCUSSION AND ANALYSIS REPORT

As per the Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, Management Discussion and Analysis Report is presented in ‘Annexure III and forms an integral part of the Directors Report.

33. VIGIL MECHANISM/WHISTLE BLOWER POLICY

Pursuant to Regulation 15 of the SEBI (LODR) Regulations, 2015 which states that Regulation 22 of the SEBI (LODR) Regulations, 2015 is not applicable to the Company. However, Your Company has voluntarily established a vigil mechanism named Policy on Whistle Blower & Vigil Mechanism pursuant to Section 177(10) of the Companies Act, 2013 which has been uploaded on the website of the Company at www.info@iavantinfra.com.

34. COMPLIANCE WITH SECRETARIAL STANDARDS

The Company is fully compliant with the applicable Secretarial Standards (SS) viz. SS-1 & SS-2 on Meetings of the Board of Directors and General Meetings respectively.

35. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013

The details loans/guarantees/ investments (if any) made by the Company under Section 186 of the Companies Act, 2013 have been disclosed in the Financial Statement.

36. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

There is no significant material orders passed by the Regulators/Courts/Tribunals impacting the going concern status of the Company and its future operations.

37. RISK MANAGEMENT POLICY

With regard to risk management policy, the risk pertaining to business of the Company is discussed by the board of Directors at the Board Meetings on the regular basis. Further, the company need not required to formulate any specified risk management policy.

38. PREVENTION, PROHIBITION & REDRESSAL OF SEXUAL HARASSMENT OF WOMEN & WORKPLACE

The Company has placed an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. All employees (permanent, contractual, temporary, trainees) are covered under this policy. Further no complaint was received during the year under review.

39. APPOINTMENT OF PRACTISING COMPANY SECRETARY

The board appointed M/s Agrawal & Agrawal, Company Secretaries, Raipur, for Signing Annual Return and/or issue Certificate in Form MGT-8 (if required) as per Section 92 of the Companies Act, 2013, for the Financial Year 2025-2026.

40. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016

During the year under review, there are no application made by or against the company and there are no proceedings pending under the Insolvency and Bankruptcy Code, 2016.

41. COMPLIANCE WITH THE MATERNITY BENEFIT ACT, 1961

The Company has complied with the provisions of the Maternity Benefit Act, 1961, including all applicable amendments and rules framed thereunder. The Company is committed to ensuring a safe, inclusive, and supportive workplace for women employees. All eligible women employees are provided with maternity benefits as prescribed under the Maternity Benefit Act, 1961, including paid maternity leave, nursing breaks, and protection from dismissal during maternity leave.

The Company also ensures that no discrimination is made in recruitment or service conditions on the grounds of maternity. Necessary internal systems and HR policies are in place to uphold the spirit and letter of the legislation.

42. 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

The requirement to disclose the details of difference between amount of the valuation done at the time of onetime settlement and the valuation done while taking loan from the Banks or Financial Institutions along with the reasons thereof is not applicable.

43. COMPANY RELATIONS

The company has maintained good industrial relations on all fronts. Your directors wish to place on record their appreciation for the honest and efficient services rendered by the employees of the company.

44. ACKNOWLEDGEMENTS

Your directors wish to place on record their appreciation for the invaluable support and co- operation received from the auditors, bankers, customers, shareholders, and staff of the company. Your directors also wish to place on record their deep sense of appreciation for the commitment displayed by all executives, officers and staff, resulting in successful performance of the Company during the year.

On behalf of the Board of Directors

Sd/-	Sd/-
Nilesh Jobanputra	Daksha Jobanputra
(Managing Director)	(Executive Director)
(DIN: 00188698)	(DIN: 00190145)