Khaitan (India) Ltd Directors Report

Dear Members,

Your Directors take pleasure in presenting their 88th Annual Report on the business and operations of the Company together with the Audited Statement of Accounts for the financial year ended 31st March 2025.

1. Financial Highlights

During the year under review, performance of your Companys financial results is as under: (Rs in Lakhs)

Particular	Financial Year
	2024-25	2023-24
Revenue From Operations	7760.87	5836.99
Total Income	8036.25	5956.62
Total Expenses	7321.12	5822.62
Profit Before Exceptional Items and Taxation	715.13	133.99
Deferred Tax	17.20	-
Profit After Tax	697.92	133.99

2. Operation and Performance Review

During the year under review, the Company achieved revenue of Rs. 77.61 Crores as compared to Rs. 58.37 Crores in the previous financial year, reflecting growth of about 33% from last financial year. The total income during the financial year increased to Rs. 80.36 Crores as compared to Rs. 59.57 Crores in the previous financial year, reflecting growth of about 35% from last financial year.

Profit before tax increased to Rs. 7.15 Crores as compared to Rs. 1.34 Crores in the previous financial year. Profit after tax for the financial year increased to Rs. 6.98 Crores as compared to Rs. 1.34 Crores in the previous financial year. The profit of the company has increased substantially almost four times of the last financial year.

The improvement in performance was primarily due to increased turnover, operational efficiencies, and prudent financial management. The Company remains focused on sustaining profitability through continued geographical and product expansion.

3. Companys Affairs and Future Outlook

During the year, performance of Company has improved substantially and company has achieved growth of almost 35% in total income, which was mainly from the business segment of electrical goods. Further, as company has breached the threshold of breakeven, the fixed cost has marginal increase resulting into better profitability. During the year, companys profit has increased four times over last year. Further, due to accumulated losses, no income tax is applicable.

The operation of the Sugar Division has been suspended owing to factor of the huge working capital requirement and very huge input cost, Company believes that it may expect some turnaround in future. Company is taking steps towards the same, however, no immediate turnaround is visible at this point of time.

In relation to the agriculture division, Company has small revenue and same would continue without any exceptional increase. Further, no immediate possibility exists to increase the revenue from this segment.

In relation to the electrical goods division, Company has substantially increased the operation and is looking for expansion in all geographical areas through its network. Further. Company is also increasing the product mix to grab larger share of electrical goods market, which is increasing substantially due to continued demand. Also, the Company is planning to have access to more markets through various online market platforms for the marketing of its product.

Your directors are hopeful that company would be able to maintain the growth and profitability would also increase over period of time.

4. Change in Nature of the Business

There was no change in the nature of the business of the Company during the year.

5. Dividend

With a view to conserve resources, your directors have decided to withhold the dividend during the financial year. This will conserve the resources and improve liquidity and cater to the fund for the expansion activity of the Company.

6. Transfer to Reserves

Company does not propose to transfer any amount to the reserve during the year. All profits have been carried forward in the P&L Account.

7. Share Capital

There has been no change in the authorised and paid- up capital of the Company during the year.

8. Annual Return

The Annual Return in the e-form MGT - 7 for the financial year 2024-25 to the extent it can be filled in is provided on the Companys website and may be treated as part of Board Report.

9. Board of Directors and Meetings of the Board

The Board is properly constituted with an appropriate mix of executive, non- executive and independent directors to maintain the independence of the Board and to separate the Board functions of governance from the management.

The Board is constituted in compliance with Section 149 of the Companies Act, 2013 and Regulation 17 of SEBI (LODR) Regulations, 2015. The total strength of the Board comprised of six directors during financial year 2024-25. Board comprised of one executive promoter director and five non-executive directors with all five non-executive directors being the independent directors, with one of independent directors being the woman director. The composition of the Board was proper throughout the financial year as per Companies Act, 2013 and SEBI (LODR) Regulation, 2015. No changes took place in the Board during the financial year 2024-25.

However, post the financial year, changes have occurred in Board composition. Two independent directors, Mr. Manoj Chhawchharia (DIN: 00214867) and Mr. Ajay Ahlawat (DIN: 01227343) have resigned from the directorship with effect from 1st April 2025 and 9th April 2025, respectively, due to personal reasons. Board places on record appreciation for their guidance and contribution during the challenging times of the company.

Board appointed two independent directors Ms. Pooja Kalanouria (DIN: 09056683) and Ms. Ayushi Khaitan (DIN: 10171829) at the Board Meeting dated 30th June 2025. Both of them are qualified professionals and brings substantial value addition to the quality of the Board. Company looks forward to their contribution. Their appointment is subject to approval of members at the ensuing Annual General Meeting. Board recommends their appointment.

Further, Mr. Sandip Chatterjee (DIN: 06875010) and Ms. Sujata Chatterjee (DIN: 00245656), independent directors have resigned with effect from 1st July 2025 due to personal reasons. Board places on record appreciation for their guidance and contribution during the challenging times of the company.

More details about the directors including the profile are provided in the Corporate Governance Report forming a part of the Board Report.

The directors would like to put on record that all the changes in composition of Board have occurred owing to their pre-occupation of the directors and there is no other material reason for their resignation.

During the financial year 2024-25, five (5) Board Meetings were held on 29th May 2024, 10th August 2024, 30th August 2024, 28th October 2024 and 4th February 2025.

The attendance of Directors in the Board meeting during the financial year 2024-25 is provided below:

Name of the Director	Number of Meetings Held	Number of Meetings Entitled To Attend	Number of Meetings Attended
Sunay Krishna Khaitan	5	5	5
Gopal Mor	5	5	5
Sandip Chatterjee	5	5	5
Sujata Chatterjee	5	5	5
Ajay Ahlawat	5	5	5
Manoj Chhawchharia	5	5	5

None of the directors are disqualified under Section 164 of the Companies Act, 2013.

10. Loan, Guarantees and Investments under Section 186

The Company has not granted any loan or extended any guarantee or provided any security in connection with the loans during the financial year 2024-25.

The Company had earlier granted loan to Eskay Properties Development Private Limited. During the financial year 2024-25, Company has converted loan of Rs. 3 Crores, resulting into allotment of 1,27,659 shares by Eskay Properties Development Private Limited as per the valuation report obtained.

The present investment along with earlier investment is within the limit of Section 186 of the Companies Act 2013.

Please refer to Note no. 6 of Notes to Accounts for details of all investments made by the Company.

11. Contracts or Arrangements with Related Parties

All Transactions entered into with related parties as defined under the Companies Act, 2013 and Regulation 23 to the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, during the financial year were in the ordinary course of business and on arms length basis.

All related party transactions are placed before the audit Committee and also the Board for approval. Particulars of contracts or arrangement with related parties as prescribed in form AOC-2 as Annexure -1. Further, all the related party transaction is specified in Note no. 43 to Notes to Accounts

12. Material Changes Affecting the Financial Position of the Company

There are no material changes affecting the financial position of the Company which have occurred between the end of the financial year of the Company, i.e., 31st March 2025 and till the date of this Board Report.

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

Information as per Section 134 (3) (m) of the Companies Act, 2013, read with Rule 8(3) of the Companies (Accounts) Rules, 2014 relating to Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo has been enclosed with this report as Annexure - 2.

14. Subsidiaries, Joint Venture and Associate

The Company at the end of financial year does not have any subsidiary or associate Company. Also, it has not entered into any Joint venture.

15. Risk Management Policy

Risk management is an integral part of the business. The risk management process, inter alia, provides for a review of the risk assessment and mitigation procedures with timely reporting to the management and review of the identified risks at periodic intervals to assess the progress of control measures.

The Audit committee of the Board also oversees and serves as Risk Management Committee. The Committee had formulated a Risk Management policy that outlines the different kinds of risks and risk mitigating measures. The major risks are reviewed for the change in their nature and extent since the last assessment. It also provides control measures for risks and future action plans. Your Board is satisfied that there are adequate systems and procedures in place to identify, assess, monitor and manage risks. The Company believes that the overall risk exposure of present and future risks remains within risk capacity.

The details about risk and its management are provided in details appropriately in the report. The policy and terms of reference have been provided in Corporate Governance Report forming part of the Directors Report.

16. Directors and Key Managerial Personnel

During the financial year 2024-25, your Board had six directors and no changes took place in composition of the Board during the financial year. Details including profile of Directors are provided in the Corporate Governance Report, which forms a part of the Board Report. There has been changes after the end of the Financial Year which have already been mentioned above.

During the financial year 2024-25, more than half of the Board of the Company comprised of independent directors and the composition of the Board was in compliance with regulation 17(1)(b) of SEBI (Listing Obligations and Disclosure Obligations) Regulations 2015 and Section 149 of the Companies Act, 2013.

As on date, Board comprises of four directors with three independent directors. Since, Board strength comprises of only one director for the purpose of directors liable to retire by rotation, he is liable to retire by rotation even being a Whole Time Director. Since he has retired by rotation at last AGM, none of the directors are liable to retire by rotation at this Annual General Meeting. However, the Board proposes to reappoint Mr. Sunay Krishna Khaitan as Whole Time Director for a period of three years and his remuneration is also proposed to be revised based on the performance of the Company and same shall be subject to approval of members at ensuing Annual General Meeting.

Mr. Sumit Pasari continued to be Chief Financial Officer of the Company, having been appointed with effect from 21st July 2023. During the year, changes has taken place in Company Secretary. Mr. Ankit Saugandh, who was the Company Secretary had resigned w.e.f. 28th May 2024. Company has appointed Mr. Chandranath Banerjee as the Company Secretary and Compliance Officer of the Company with effect from 10th August 2024. The vacancy in interim was for only for 74 days.

Significant and Material Orders Passed by the Regulators, Courts or Tribunals

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

17. Insurance

All insurable interest of the Company including, buildings, furniture and fixtures and other insurable interest are adequately insured.

18. Statement in Respect of adequacy of Internal Financial Control with Reference to the Financial Statements Internal Controls

A robust system of internal control, commensurate with the size and nature of its business, forms an integral part of the Companys corporate governance policies. Internal Audit has been conducted by qualified internal auditors. Internal audit is done by a team of qualified persons headed by Mr. Atul Lath who has an experience of over 10 years in the field of acounting and finance. Findings of the internal auditor are reviewed by the management and the report of internal auditor is placed before the Audit Committee and proper follow-up action are ensured wherever required. The Statutory Auditors have evaluated the system of internal controls of the Company and have reported that the same are adequate and commensurate with the size of the Company and nature of its business.

Internal Financial Controls

As per Section 134(5) (e) of the Companies Act, 2013, the Directors have an overall responsibility for ensuring that the Company has implemented robust systems and frameworks of internal financial controls.

These include those policies and procedures that:

i. Pertain to the maintenance of records which in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company

ii. Provide reasonable assurance that transactions are recorded as necessary to permit preparation of the financial statements in accordance with generally accepted accounting principles and that the receipts and expenditures are being made only in accordance with authorizations of the management and the Directors of the Company and

iii. Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of assets that can have a material effect on the financial statements.

This provides the Directors reasonable assurance regarding the adequacy and operating effectiveness of controls with regards to reporting, operational and compliance risks to enable them to meet these responsibilities. The Company has devised appropriate systems and frameworks including proper delegation of authority, policies and procedures, effective IT systems aligned with business requirements, internal audit framework, risk management frameworks and whistle blower mechanism.

The Audit committee regularly reviews the internal control system to ensure that it remains effective and aligned with business requirements. Where weaknesses are identified as a result of the reviews, new procedures are put in place to strengthen controls and are in turn reviewed at regular intervals.

The Company has developed a framework for designing and assessing effectiveness of internal controls over financial reporting and has already laid down entity-level policies and process-level standard operating procedures.

The entity-level policies comprise anti-fraud policies (code of conduct including conflict of interest, confidentiality and whistle blower policy) and other policies (organization structure, roles and responsibilities, insider trading policy, related party policy, prevention of sexual harassment policy, risk management policy, policy for materiality of information or events and policy for preservation of documents). The Company has also prepared standard operating practices for each of its processes of revenue to receive, procure to pay, hire to retire, finance and accounts, fixed assets, treasury, inventory, operations and administrative expenses.

The management assessed the effectiveness of the internal financial controls over financial reporting as of 31st March 2025 and the Board believes that the controls are adequate.

19. Deposits

The Company has not accepted any deposits in terms of Section 73 or Section 76 of the Companies Act, 2013. All details of the exempted deposit is elsewhere provided in the financial statement.

20. Declaration by Independent Directors

The Independent Directors have submitted the declaration of independence, stating that they meet the criteria of independence as provided under Section 149(6) of the Companies Act, 2013 and SEBI LODR Regulations, 2015.

21. Receipt of any Commission by Managing Director/ Whole Time Director from the Company or Receipt of Commission/ Remuneration from Subsidiary

The Managing Director/ Whole Time Director are not in receipt of any commission from the Company or any commission/ remuneration from any of subsidiaries.

22. Statutory Auditor

K. C. Bhattacharjee & Paul, Chartered Accountants, having FRN 3030026E were appointed as Statutory Auditors of the Company for the period of five years and their term of office is till the last financial year 2024-25 and they hold office till conclusion of Annual General Meeting (AGM) for the financial year 2024-25.

Statutory Auditor, K. C. Bhattacharjee & Paul, Chartered Accountants, having FRN 3030026E have given their consent for re-appointment as Statutory Auditors for a further term of five years and their appointment would be subject to approval of members at AGM. They would hold office from financial year 2025-26 to 2029-30. They have confirmed their eligibility for continuing as Statutory Auditors of the Company. Your board recommends their re-appointment at the ensuing AGM.

23. Cost Auditor

As per the provisions of Section 148 of the Companies Act, 2013, the Company does not fall under the requirement of Cost Audit or maintenance of Cost Records.

24. Secretarial Auditor

As per the provisions of Section 204 of the Companies Act, 2013, the Board of Directors has appointed V P Rajeev & Associates, Company Secretaries as Secretarial Auditor to conduct the Secretarial Audit of the Company for the Financial year ended on 31st March 2025.

Board proposes to appoint Mr. V P Rajeev, Proprietor, V P Rajeev & Associates, Company Secretaries as Secretarial Auditor for a term of five years and their appointment would be subject to approval of members at AGM. They would hold office from financial year 2025-26 to 2029-30.

25. Secretarial Audit Report

The Secretarial Audit report issued by Mr. V P Rajeev, Proprietor, V P Rajeev & Associates, Company Secretaries in Form MR-3 pursuant to Section 204(1) of the Companies Act, 2013 and Rule 9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014, has been enclosed with this report as Annexure - 3.

The Secretarial Audit report does not contain any qualification or observation other than statement of delay in filing of certain e-forms which was missed inadvertently. Company do take note of same and would try to endeavour to comply with the timeline of filing in future.

26. Statutory Auditors Report

The Statutory Auditors Report for financial statements of the Company is provided along with the financial statements. The Auditors contains qualified opinion for the Financial Year 2024-25. All the qualification/ observations are duly replied below.

The Auditors have referred to Note No. 46 of the financial statements regarding the suspension of production activities of the sugar mill for a long period. In their opinion, the assets, liabilities, amount of expenses and cash flows relating to the said sugar mill should have been recognised and disclosed as Discontinued Operations; however, the Company has considered the same as part of continuing/regular business operations.

The Company has been engaged in the sugar business since 1936. The suspension of operations is temporary and primarily due to working capital constraints and ongoing research for improving sugarcane yield in collaboration with agricultural experts. The management is of the view that operations will resume once the desired quality of canes is achieved and requisite funding is arranged. In view of the expected revival in the near future, the business of the sugar division has been treated as a continuing operation.

The Auditors have drawn attention to Note No. 48 of the financial statements indicating that the Company has incurred losses up to the half year ended 30th September 2022, and also in the preceding few financial years, resulting in a reduction in net worth.

The Company has implemented several business improvement initiatives and has recorded net profits from the financial year 2022-23 onwards. The management remains confident of maintaining profitability in the subsequent years and, accordingly, the accounts have been prepared on a going concern basis.

Without modifying their opinion, the Auditors have drawn attention to Note No. 49 of the financial statements regarding balances of trade receivables, trade payables, loans and advances, claims recoverable and bank accounts, which are subject to reconciliation and confirmation.

The Company is in the process of obtaining necessary confirmations and reconciling the outstanding balances. Adjustments, if any, arising from such reconciliation will be accounted for upon completion of the exercise.

The Secretarial Audit report does not contain any qualification or observation other than statement of delay in filing of certain e-forms which was missed inadvertently. Company do take note of same and would try to endeavour to comply with the timeline of filing in future.

27. Reporting of Frauds

During the year under review, the Statutory Auditors has not reported any instances of frauds committed in the Company by its officers.

28. Audit Committee

The Company has Audit Committee in compliance to the Section 177 of Companies Act, 2013 and SEBI (LODR) Regulations, 2013. The details about composition of the Audit Committee, its terms of reference, meetings, etc. have been provided in the Corporate Governance Report.

There were no such incidences where the Board has not accepted the recommendations of the Audit committee during the year.

29. Corporate Social Responsibility (CSR)

The provisions relating to Corporate Social Responsibility (CSR) as prescribed under Section 135 of the Companies Act, 2013, read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 were not applicable to the Company during the financial year 2024-25.

Based on the profit for the financial year 2024-25, the conditions of the CSR has become applicable to the Company and as such company needs to comply with the CSR requirement during the financial year 2025-26.

Accordingly, the Company is in the process of formulating its CSR Policy, identifying the areas of intervention, and selecting suitable projects in line with the activities specified in Schedule VII of the Companies Act, 2013.

Since the provisions of CSR were not applicable to the Company during the financial year 2024-25, there was no requirement to undertake or disclose CSR details in the report.

30. Nomination & Remuneration Committee

The Company has constituted Nomination and Remuneration Committee in compliance to the Section of Companies Act, 2013 and SEBI (LODR) Regulations, 2013. The Company strongly believes that its human resource has infinite potential and therefore, their development is the key to organizational effectiveness. We commit ourselves to integrate human resources with organizational growth and development for mutual benefit. The Nomination and Remuneration policy has been formulated in compliance to the requirement of Companies Act, 2013 and SEBI (LODR) Regulations, 2013.

The details about composition of the Committee, Nomination and Remuneration Policy and other terms and condition, including its terms of reference, have been provided in the Corporate Governance Report.

31. Performance Evaluation

Pursuant to provisions of the Companies Act, 2013, and SEBI (LODR) Regulation, 2015, the Board has carried out an annual performance evaluation of its own performance, the Directors individually, including Independent Directors, as well as the evaluation of the working of its committees, i.e., Audit, Nomination & Remuneration and Stakeholder Relationship committees.

A structured format was prepared to rate after taking into consideration inputs received from Directors covering various aspects of the Boards functioning such as adequacy of the composition of the Board and its Committees, Board culture and execution and performance of specific duties, obligations and governance.

A separate exercise was carried out to evaluate the performance of Independent Directors. The performance evaluation of Independent Directors was carried out by the entire Board. The performance evaluation of the Chairman and the Non-Independent Directors was carried out by the Independent Directors.

The mechanism for the evaluation of the Board is given in detail in the Corporate Governance report.

32. Human Resources

Your Company takes pride in the commitment, competence and dedication shown by its employees in all areas of its business. It considers people as its biggest assets. It has put concerted efforts in talent management and succession planning practices, strong performance management and learning and training initiatives to ensure that your Company consistently develops inspiring, strong and credible leadership. Your Company facilitates proper induction and appropriate upgrade for the skills.

33. Disclosure on Establishment of a Vigil Mechanism

The Board of Directors has adopted a Whistle Blower policy. The policy aims for conducting the affairs in a fair and transparent manner by adopting the highest standards of professionalism, honesty, integrity and ethical behaviour. Directors and all permanent employees of the Company are covered under the Whistle Blower Policy. A mechanism has been established for Directors/ Employees to report concerns about unethical behaviour, actual or suspected fraud or violation of code of conduct and ethics. It also provides for adequate safeguards against the victimization of Directors/ Employees who avail of the mechanism and allows direct access to the Chairperson of the Audit Committee in exceptional cases. A copy of the Whistle Blower Policy is also hosted on the website of the Company.

34. Secretarial Standard

The company has complied with the Secretarial Standards, SS-1 and SS-2 issued by the Institute of Company Secretaries of India on Board Meetings and General Meetings. Company also endeavours to ensure compliance of other secretarial standard/ guidance notes.

35. Managerial Remuneration

Disclosures pursuant to Rule 5 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 has been enclosed with this report as Annexure - 4.

36. Disclosure as per Listing Regulations

Disclosures pursuant to Regulation 34 read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 has been provided in Annexure - 5 apart from those which are provided/ covered in Corporate Governance.

37. Management Discussion and Analysis report

As per Regulation 34(3) and Schedule V of SEBI (LODR) Regulation, 2015, a separate section on Management Discussion and Analysis report forms an internal part of Directors Report as Annexure - 6.

38. Corporate Governance

The conditions of Corporate Governance was not applicable to the Company as per Section 15 of the SEBI (LODR) Regulations, 2015 for the financial year 2024-25 as the paid-up equity share capital and net worth of the Company were less than Rs. 10 crore and Rs. 25 Crore, respectively as at the end of previous financial year ended on 31st March 2024. However, Company has undertaken voluntary compliance and reporting of the conditions of corporate governance.

As per Schedule V of SEBI (LODR) Regulation, 2015, a separate section on corporate governance practices followed by the Company, report on Corporate Governance together with a certificate confirming compliance and CEO/CFO Certificate by the Whole Time Director and Chief Financial Officer forms an integral part of this Directors Report as Annexure- 7.

39. Application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016

As per the information of the Company as on date of this report, no proceeding is pending against the Company under the Insolvency and Bankruptcy Code, 2016.

40. Companies (Auditors Report) Order, 2020

The provisions of CARO is applicable and required reporting has been made by the statutory auditor as part of the audit report. The report as provided is self- explanatory.

41. Disclosures under Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013

The Company has adopted a policy on prevention of sexual harassment of women at workplace in accordance with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and has also created an Internal Complaints Committee. During the financial year ended 31st March 2025, the Company has not received any complaints pertaining to sexual harassment. A copy of the policy on Sexual harassment is also hosted on the website of the Company.

Sr. No.	Particular	Number
(a)	Number of complaints of sexual harassment received in the year	0
(b)	Number of complaints disposed off during the year	0
(c)	Number of cases pending for more than ninety days	0

42. Maternity Benefit Act 1961

The Company affirms that it has duly complied with all provisions of the Maternity Benefit Act, 1961, and has extended all statutory benefits to eligible women employees during the year.

43. Directors responsibility statement

In accordance with the provisions of Section 134(5) of the Companies Act 2013, your directors confirm that:

a) In the preparation of the annual accounts for the financial year ended 31st March 2025, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b) The Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March 2025 and of the profit /loss of the Company for that period;

c) The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of 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 on a going concern basis;

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

f) The Directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

44. Transfer to Investor Education and Protection Fund

The Company does not have any unclaimed dividend pending with it to be transferred to Investor Education and Protection Fund.

45. Acknowledgment

Your Directors take this opportunity to offer their sincere thanks to all stakeholders including the various departments of the central and state governments, government agencies, banks, financial institutions, shareholders, customers and employees who through their continued support and co-operation have helped in your Companys progress.

	For and on behalf of the Board of Directors
	Khaitan (India) Limited
	sd/-
Place: Kolkata	Sunay Krishna Khaitan
Date: 29th August 2025	Whole time Director
	DIN:07585070