Kilburn Engineering Ltd Directors Report

For The Financial Year Ended 31st March, 2025

Dear Members,

The Directors of your Company are pleased to present the 37 th Annual Report together with Audited Standalone Financial Statements for the financial year ended 31 st March, 2025.

FINANCIAL HIGHLIGHTS

in lakhs

Financial Results	Year ended 31st March, 2025 (Standalone)	Year ended 31st March, 2024 (Standalone)
Revenue from Operations	33,550	29,321
Total Expenses (excluding finance cost & depreciation)	24,743	22,835
Profit from Operations before Depreciation, Finance cost and Tax	8,807	6,487
Other Income	250	338
Finance Costs	1,148	944
Depreciation & Amortization Expenses	559	331
Profit Before Tax	7,351	5,548
Tax Expenses	1,869	1,581
Profit/(Loss) for the Year	5,482	3,967

STATE OF COMPANYS AFFAIRS

Revenue from Operations for the year increased to 33,550 Lakhs, compared to 29,321 Lakhs in the previous year, reflecting a growth of 14.42%. Profit from Operations before Depreciation, Interest, and Taxation (excluding other income) rose by 2,320 Lakhs. Profit After Tax (PAT) stood at 5,482 Lakhs, up from 3,967 Lakhs in the previous year — a significant increase of approximately 38.2%.

TRANSFER TO RESERVES

Your Directors do not propose to transfer any amount to general reserves for the financial year ended March 31, 2025.

DIVIDEND

The Board is pleased to recommend a final dividend of 2/- per share for the Financial Year 2024-25. The dividend payout is subject to approval of members at the ensuing Annual General Meeting.

The Register of Members and Share Transfer Books will remain closed from 19-09-2025 to 25-09-2025 (both days inclusive) for the purpose of payment of dividend for the financial year ended March 31, 2025.

CHANGES IN SHARE CAPITAL

The Authorised share capital as on March 31, 2025 was 65,00,00,000/-

Pursuant to the approval of the members at the 36 th Annual General Meeting, the Authorised Share Capital of the Company

was increased from 56,00,00,000 to 65,00,00,000 by reclassification of 55,00,000 unissued Redeemable Preference Shares of 10/- each and creating 90,00,000 additional equity shares of 10/- each.

The issued, subscribed and paid-up equity share capital as on March 31, 2025 was 47,48,78,580/-

During the year, the Company had converted 34,50,000 convertible warrants into equity shares of face value of 10/- each at a premium of 70/- each, in two tranches, on 19 th July, 2024 and 9 th September, 2024 on receipt of 60/- per warrant towards allotment money.

During the year 2024 - 25, pursuant to the approval of the members at the 36 th Annual General Meeting, the Company had allotted, by way of preferential issue, 17,47,500 equity shares at an issue price of 425/- (including premium of 415/- each) to allottees belonging to public category for cash consideration and 4,70,000 equity shares at same issue price to five promoters of Monga Strayfield Private Limited (94,000 equity shares each) for non-cash consideration. Company also issued and allotted 47,97,500 convertible warrants at an issue price of 425/- (including premium of 415/- each) to allottees belonging to both the promoter(s) and the promoter group of the Company and public category for cash consideration on receipt of 25% of issue price as application money.

MATERIAL CHANGES BETWEEN THE END OF FINANCIAL YEAR AND DATE OF BOARD REPORT

The company had approved the proposal for voluntary delisting of equity shares from CSE (The Calcutta Stock Exchange Ltd.) at the meeting of Board of Directors held on 21 st May, 2025 and has submitted application to CSE in this regard.

OPERATIONAL REVIEW & STATE OF THE COMPANYS AFFAIRS

As you are aware your company is primarily engaged in Designing, Manufacturing & Commissioning Customized / Critical Equipment/Systems for critical applications across a wide range of industries.

Process Equipment (PE): An improved economic environment led to a substantially higher inflow of orders as compared to the previous year.

Some of the orders which have been received and which were and are being executed during the year under review are :

• Rotary Dryer and Air Pre Heater for domestic Carbon Black industry

• Rotary Dryers for Rock Phosphate from the largest producer of phosphatic fertilser.

• Air Cooler Unit & Vapour recovery unit for nuclear reactor. Order Booking

The total order booking during the year was 493 Crores (previous year 275 Crores) and total unexecuted orders as on 31 st March, 2025 stood at 388 Crores (previous year 227 Crores)

ACQUISITION OF PRIME FACTORY UNIT

During the year Company acquired a running industrial unit situated at Ambernath (E), Distt. Thane from M/s. Shree Satyanarayan Industrial Suppliers Pvt. Ltd. along with plant and machinery installed at the unit contributing towards expansion of its manufacturing capabilities to execute high value orders.

ACQUISITION OF MONGA STRAYFIELD PRIVATE LIMITED

During the year, Kilburn successfully acquired a 100% stake in Monga Strayfield Private Limited, a recognized leader in Radio Frequency (RF) dryer technology. The acquisition was completed on January 27, 2025, and as a result, Monga Strayfield became a wholly owned subsidiary of Kilburn with effect from that date. This strategic acquisition allows Kilburn to leverage Monga Strayfields specialized expertise in RF drying solutions, thereby expanding and strengthening its existing product portfolio. It also provides Kilburn with entry into new industries and access to a broader client base, enhancing its market reach and competitive positioning.

HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

Your Company has no Holding Company / Associate Company. As on 31 st March, 2025, Firstview Trading Private Limited holds 1,51,61,239 (31.93%) shares of your company and therefore your company can be termed as associate Company of Firstview Trading Private Limited within section 2(6) of the Companies Act, 2013. Pursuant to acquisition, Monga Strayfield Private Limited has become a wholly owned subsidiary of the Company w.e.f. 27 th January, 2025. Other wholly owned subsidiary of the Company is M.E Energy Private Limited.

Both the wholly owned subsidiaries of the Company are material subsidiaries as defined in regulation 16(1)(b) of the SEBI (LODR) Regulations, 2015, since the income of each subsidiary exceeds 10% of consolidated income of the Company during FY : 2024 - 25.

CONSOLIDATED FINANCIAL STATEMENT

The consolidated financial statement include a revenue of 88.96 crores and profit before tax of 9.15 crores, attributable to the subsidiaries for the FY : 2024-25.

A statement in Form AOC-1 containing the salient features of the subsidiary companies is attached to the Financial Statements in Annexure X and forms part of this report. The separate audited accounts of the Company and its Subsidiary companies are available on the website of the Company and can be accessed at www. . The Annual Report includes the audited Consolidated Financial statements of the subsidiaries prepared in compliance with Companies Act, 2013 and the applicable Accounting Standards. The Consolidated Financial Statements shall be laid before the ensuing 37 th Annual General Meeting of the Company along with the laying of the Standalone Financial Statements of the Company.

FUTURE OUTLOOK

Your Company operates primarily in two divisions viz. Process Equipment and Tea Drying Equipment. The company remains optimistic about the future , buoyed by a healthy order book and inflowing inquiries .

A detailed review of the outlook of each division is incorporated in the Management Discussion and Analysis Report in Annexure I which forms part of this Report.

CHANGE IN THE NATURE OF BUSINESS

During the year there was no change in nature of business.

COMMITTEES OF THE BOARD

The Board of Directors has the following Committees:

a) Audit Committee

b) Nomination and Remuneration Committee

c) Stakeholders Relationship Committee

d) Corporate Social Responsibility Committee

The details of the requisite Committees of the Board along with their composition, number of meetings and attendance at the meetings are provided in the Report on Corporate Governance

AUDITORS & AUDIT REPORT

a) Statutory Auditors :

M/s V. Singhi & Associates, Chartered Accountants (FRN :311017E) were re-appointed as Statutory Auditors for a tenure of five years, at the AGM held on 20.09.2024 upto AGM to be held in 2029.

Statutory Audit Report for FY 2024-25, has an unmodified opinion.

b) Internal Auditors : M/s. Bhide & Bhide, Chartered Accountants (FRN: 136994W) were appointed as Internal Auditors by the Board of Directors for 2024-25 and they have conducted internal audits periodically and submitted their reports to the Audit Committee. Their reports have been reviewed by the Statutory Auditors and the Audit Committee.

c) Cost Auditors : Your Company appointed M/s. D. Sabyasachi & Co. (FRN : 000369) Cost Accountants as Cost Auditors of the Company for the Financial Year 2024-25 and their re-appointment is proposed for 202526 at the remuneration set out in the notice of AGM and explanatory statement thereto.

The Provisions of Section 148(1) of the Act continue to apply to the Company and accordingly the Company has maintained cost accounts and records in respect of the applicable products for the year ended March 31, 2025.

d) Secretarial Auditors : M/s. Nitin S. Sharma & Associates, Thane were appointed as secretarial auditor of the Company for the Financial Year 2024-25, as required under section 204 of the Companies Act, 2013 read with the applicable rules. The Secretarial Audit Report for 2024-25 forms part of the Annual Report as Annexure - VI.

The said Secretarial Audit Report does not contain any qualification, reservations, adverse remarks or disclaimer.

Pursuant to Regulation 24A of SEBI Listing Regulations, the Secretarial Audit Reports of material unlisted subsidiaries i.e. Monga Strayfield Private Limited and M.E Energy Private Limited are annexed as Annexure VII and Annexure VIII respectively and forms part of this Annual Report.

Pursuant to regulation 24A of the SEBI (LODR) Regulations, 2015, Board has recommended the appointment of M/s. Nitin Sharma & Associates, Thane for a tenure of Five years to be concluded at the AGM to be held in 2030, subject to approval of the members at ensuing AGM.

DECLARATION AS PER SECTION 134(3)(ca) OF THE COMPANIES ACT, 2013

During the year, the statutory auditors and secretarial auditor have not reported any instances of frauds committed by or against the Company by its Directors/Officers/ Employees to the Audit Committee or Board under section 143(12) of the Companies Act, 2013 and rules made thereof. Therefore no detail is required to be disclosed under Section 134 (3)(ca) of the Act.

SECRETARIAL STANDARDS

Your Company is in compliance with all applicable Secretarial Standards issued by the Institute of Company Secretaries of India, for the financial year ended March 31, 2025.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provision of Section 134 (5) of the Companies Act, 2013, the Board of Directors of your Company hereby confirms:

1) that in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departure;

2) 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 as at the end of the financial year and of the Profit and Loss of the Company for the period;

3) that the Directors have 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;

4) that the Directors have prepared the annual accounts on a going concern basis.

5) that 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.

6) 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.

MANAGEMENT DISCUSSION & ANALYSIS

A separate report on Management Discussion & Analysis is appended to the Annual Report as Annexure I and forms part of this Directors Report;

CORPORATE GOVERNANCE

Report on Corporate Governance has been attached herewith as Annexure - II pursuant to the provisions of Regulation 34 read with schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

EMPLOYEE RELATIONS

Employee relations remained cordial throughout the year.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The information relating to Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo as required to be disclosed pursuant to Section 134 (3) (m) of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014, as amended, is appended to this Annual Report as Annexure IX and forms part of this Directors Report.

ADEQUACY OF INTERNAL FINANCIAL CONTROL SYSTEM WITH RESPECT TO THE FINANCIAL STATEMENTS

The Company has a comprehensive system of internal control which is being strengthened. The internal control system is also subject to review by auditors. The Company has appointed a firm of auditors for conducting internal audit periodically and the report is considered by the Audit Committee of the Board headed by a Non-executive Independent Director.

DIRECTORS

Appointment / Re-appointment of Directors during FY 2024- 25

Mr. Amitav Roy Choudhury (DIN : 08501895) was re-appointed as an Independent Director for a second term of 5 (Five) consecutive years w.e.f. May 29, 2024 upto May 28, 2029 (both days inclusive).

Mr. Kalathil Vijaysanker Kartha (DIN : 00176616) was appointed as an Additional Director in the category of NonExecutive, Non-Independent Director w.e.f. June 01, 2024 and his appointment was subsequently regularised as a NonExecutive, Non-Independent Director through a resolution passed by way of postal ballot on August 29, 2024.

Mr. Mahesh Shah (DIN : 00405556) was re-appointed as an Independent Director for a second term of 3 (three) consecutive years w.e.f. August 13, 2024 upto August 12, 2027 (both days inclusive).

Mr. Shishir Joshipura (DIN: 00574970) was appointed as an Additional Director in the category of Independent Director w.e.f. February 07, 2025 and his appointment was subsequently regularised as an Independent Director for a first term of 5 (Five) consecutive years, w.e.f. February 07, 2025 upto February 06, 2030 (both days inclusive), through a resolution passed by way of postal ballot on April 25, 2025.

Mr. Amritanshu Khaitan (DIN : 00213413) and Mr. Aditya Khaitan (DIN : 00023788), Non-Executive, Non-Independent Directors of the Company, who retired by rotation in terms of Section 152(6) of the Companies Act, 2013, were re-appointed by the Members at the 36 th Annual General Meeting held on September 20, 2024.

Re-appointment of Directors retiring by rotation

Mr. Navin Nayar (DIN : 00136057) and Mr. Kalathil Vijaysanker Kartha (DIN : 00176616) retire by rotation at the forthcoming Annual General Meeting and being eligible offer themselves for re-appointment. A resolution seeking their re-appointment, forms part of the Notice convening the ensuing Annual General Meeting. The profile along with other details of Mr. Navin Nayar and Mr. Kalathil Vijaysanker Kartha are provided in the annexure to the Notice of the AGM.

Appointment / Re-appointment of Directors during FY 2025- 26

Mr. Ranjit Pamo Lala (DIN : 07266678) continued as Managing Director during the year 2024 - 25, and was reappointed for a second term w.e.f. 15 th May, 2025 for two years.

Mr. Anil S. Karnad (DIN : 07551892) continued as Whole Time Director (operations) during the year 2024-25, and was reappointed w.e.f. 1 st April, 2025 for two years.

The Board, on the recommendation of Nomination and Remuneration Committee, recommended the re-appointment of Mr. Shourya Sengupta (DIN : 09216561) as a Non-Executive Independent Director for the second term of five consecutive years w.e.f. June 29, 2026 to June 28, 2031 (both days inclusive). A resolution seeking his re-appointment, forms part of the Notice convening the ensuing Annual General Meeting. The profile along with other details of Mr. Shourya Sengupta are provided in the annexure to the Notice of the AGM.

DECLARATIONS BY INDEPENDENT DIRECTORS

Necessary declarations from all the Independent Directors of the Company, confirming that they meet the criteria of independence as prescribed under the Companies Act, 2013 and the Listing Regulations, and they have registered their names in the Independent Directors Databank, have been received.

The Board is of the opinion that the Independent Directors of the Company possess requisite qualifications, experience and expertise in the fields of science and technology, digitalization, human resources, strategy, auditing, tax and risk advisory services, financial services, corporate governance, etc. and that they hold highest standards of integrity.

KEY MANAGERIAL PERSONNEL

During the year 2024-25, following officials continued as Key Managerial Personnel, pursuant to section 203 of The Companies Act, 2013 :

i. Mr. Ranjit Pamo Lala, Managing Director

ii. Mr. Anil S. Karnad, Wholetime Director (operations)

iii. Mr. Sachin J. Vijayakar, Chief Financial Officer

iv. Mr. Arvind Bajoria, Company Secretary

BOARD EVALUATION

Securities Exchange Board of India (SEBI) vide its circular no. SEBI /HO /CFD /CMD /CIR /P /2017/004 dated 5 th January, 2017 had issued a guidance note on Board Evaluation which inter alia contains indicative criterion for evaluation of the Board of Directors, its Committees and the individual members of the Board.

The Nomination and Remuneration Committee of the Board of the Company has devised a policy for performance evaluation of the Directors, Board and its Committees, which includes criteria for performance evaluation.

Pursuant to the new Evaluation Framework adopted by the Board, the Board evaluated the performance of the Board, its Committees and the Individual Directors for the financial year 2024-25. After the evaluation process was complete, the Board was of the view that the performance of the Board as a whole was adequate and fulfilled the parameters stipulated in the evaluation framework. The Board also ensured that the Committees functioned adequately and independently in terms of the requirements of the Companies Act, 2013 and the Listing Regulations and at the same time supported as well as coordinated with the Board to help in its decision making. The individual Directors performance was also evaluated and the Board was of the view that the Directors fulfilled their applicable responsibilities and duties as laid down by the Listing Regulations and the Companies Act, 2013 and at the same time contributed with their valuable knowledge, experience and expertise to grab the opportunity and counter the adverse challenges faced by the Company during the year. The Board also assessed the quality, quantity and timeliness of flow of information between the Company Management and the Board that is necessary for the Board to effectively and reasonably perform their duties.

A separate meeting of the Independent Directors was also held for the evaluation of the performance of Non-Independent Directors and the performance of the Chairman of the Board and the Board as a whole.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

The Company has complied with the applicable provisions of Section 186 of the Act during the year.

Pursuant to Section 186 of the Act, details of the Investments & loans made by the Company are provided in Note no. 6a & 6b of the financial statement.

Details of Guarantee given by the Company during FY 24-25 is given in Note no. 49 of the financial statement.

RELATED PARTY TRANSACTIONS

Your Board has developed and approved a Related Party Transactions Policy for purposes of identification and monitoring of related party transactions and the same has been displayed on the Companys website at

All contracts, arrangements and transactions entered by the Company with related parties during FY 2024-25, were in the ordinary course of business and on an arms length basis and were carried out with prior approval of the Audit Committee. All related party transactions that were approved by the Audit Committee were periodically reported to the Audit Committee. Prior approval of the Audit Committee was obtained for the transactions which were planned and/or repetitive in nature and omnibus approvals were also taken as per the policy laid down for unforeseen transactions.

In FY 2024-25, none of the contracts, arrangements and transactions with related parties, required approval of the Board/ Shareholders under Section 188(1) of the Act and Regulation 23(4) of the SEBI Listing Regulations.

None of the transactions with related parties are material in nature or falls under the scope of Section 188(1) of the Act. The information on transactions with related parties pursuant to Section 134(3) (h) of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014 in Form No. AOC- 2 does not apply to the Company for the FY 2024-25 and hence the same is not provided. The details of the transactions with related parties during FY 2024-25 are provided in the accompanying financial statements.

MANAGERIAL REMUNERATION

Details of the ratio of the remuneration of each director to the median employees remuneration and other details as required pursuant to Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are as per Annexure - XI. Mr. Ranjit Pamo Lala, Managing Director and Mr. Anil S. Karnad, Whole Time Director (operations) are the only Executive Directors in receipt of remuneration during 2024- 25, and remuneration details are available in the corporate governance details attached to this Directors Report. The details of employee remuneration as required under provisions of Section 197(12) of the Companies Act, 2013 read with Rule 5(2) & 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are available on the website of the Company and can be accessed at:

VIGIL MECHANISM

The Company has formulated a vigil mechanism for Directors and employees of the Company to report concerns about unethical behaviour, actual or suspected fraud or violation of the companys code of conduct or ethics policy. The vigil mechanism provides adequate safeguards against victimization and channels for reporting concerns to the Chairperson of the Audit Committee of the Company or the director nominated to play the role of Audit Committee, as the case may be, in exceptional cases. The Vigil Mechanism Policy is available on the website of Company and can be accessed at .

REMUNERATION POLICY

The Company has formulated a Remuneration Policy for Directors, Key Managerial Personnel and employees of the Company to ensure that adequate remuneration paid to attract, retain and motivate the senior management employees to run the company successfully. The Policy is available on the website of the Company at http:// . com/company-policy-main/ and also annexed herewith as Annexure - V.

RISK MANAGEMENT

Directors have adopted risk management policy to identify the risks involved in all activities of the Company. The main objective of this policy is to ensure sustainable business growth and to promote a pro-active approach in identifying, reporting, evaluating and mitigating risks associated with the business. The policy guides the board in identification of various business risks and to take appropriate steps to mitigate the same.

CORPORATE SOCIAL RESPONSIBILITY

The Company has constituted Corporate Social Responsibility (CSR) Committee in compliance with provisions of Section 135 of the Companies Act 2013 read with rules made thereunder, with Mr. Amritanshu Khaitan (Chairman), Mr. Shourya Sengupta (Member) and Mr. Amitav Roy Choudhury (Member). The CSR Committee laid down the CSR policy of the Company which can be accessed at . The Company made a total CSR expenditure amounting to 65.00 Lakhs during the FY 202425. The details of said expenditure are given in Annual Report on CSR Activities, attached herewith as Annexure - IV in the form prescribed under the Companies (Corporate Social Responsibility Policy) Rules, 2014.

EXTRACT OF THE ANNUAL RETURN

As per the provisions of Section 92 (3) and Section 134(3) of the Companies Act, 2013 and Rule 12 of Companies (Management and Administration) Rules, 2014 as amended from time, the Annual return of the Company for the year 2024 - 25 has been uploaded on the website of the Company at

CREDIT RATING

The credit ratings awarded for credit facilities availed by the Company have been upgraded from ACUITE BBB / A3+ to ACUITE BBB + / A2 on Feb 20,2025 by Acuite Ratings & Research Limited

MEETINGS OF THE BOARD

During the financial year ended March 31, 2025, Seven Board Meetings were held. Details of meetings held and attended by each Director are given in the Corporate Governance Report forming part of this Annual Report.

TRANSFER OF UNCLAIMED AMOUNT TO INVESTOR EDUCATION AND PROTECTION FUND, WHERE NECESSARY

The details of proposed transfer of unclaimed amount to Investor Education and Protection Fund are given in the Corporate Governance Report forming part of this Annual Report.

OTHER DISCLOSURES

During the year under review:

a. Your Company has constituted an Internal Committee (IC) to consider and resolve all sexual harassment complaints reported by women employees. The constitution of IC is as per The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. There were no complaints reported or cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. Please refer Internal Complaints Committee section of Report on Corporate Governance, for more details.

b. Your Company has not accepted any deposit from the public falling within the ambit of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

c. There were no significant or material orders passed by the Regulators or Courts or Tribunals which impact the going concern status and Companys operations in future.

d. During the year under review, the Company complied with the provisions of the Maternity Benefit Act, 1961 alongwith the applicable rules under the said act and undertook necessary measures to ensure compliance for all eligible employees.

e. Except as disclosed elsewhere in the Report, there have been no material changes and commitments affecting the financial position of the Company which have occurred between the end of the financial year of the Company to which the financial statements relate and the date of this report.

f. Your Directors state that no disclosure or reporting is required in respect of the following matters as there were no

• Issue of equity shares with differential rights as to dividend, voting or otherwise.

• Issue of shares (including sweat equity shares) to employees of the Company under any scheme.

• There is no proceeding pending under the Insolvency and Bankruptcy Code, 2016.

• There was no instance of one time settlement with any Bank or Financial Institution.

• There was no revision in the previous financial statements of the Company.

COLLABORATORS

The Directors place on record its sincere appreciation to all its Collaborators for extending their valuable support and cooperation.

ACKNOWLEDGEMENT

The Directors wish to express their sincere appreciation to the Companys valued Customers, Bankers, Dealers, Suppliers, Stock Exchanges, Government authorities, and all other Stakeholders for their continued support, cooperation, and encouragement throughout the year.

The Directors also extend their heartfelt thanks to all the employees of the Company for their dedicated service and significant contributions during the year.

		For and on behalf of the Board
	Ranjit Pamo Lala	Anil Karnad
Place : Kolkata	Managing Director	Whole Time Director (Operations)
Date : 7 th August, 2025	(DIN: 07266678)	(DIN: 07551892)