Kumbhat Financial Services Ltd Directors Report

Dear Members,

Your Directors have great pleasure in presenting the 32^nd Annual Report of the business and operations of the Company together with the audited statement of accounts for the year ended 31st March, 2025.

1. STATE OF COMPANYS AFFAIRS:

(A) Financial summary / highlights:

(Amount in lakhs)

Particulars	2024-25	2023-24
Total Income	205.54	61.80
Total Expenditure	(31.39)	233.30
Profit (Loss) before interest, depreciation and tax	236.93	(171.50)
Finance cost	73.25
Depreciation	0.48	0.48
Profit (Loss) before Exceptional, Extra-ordinary items and tax	163.20	(171.98)
Exceptional & Extra-ordinary items
Profit (Loss) after Exceptional & Extra-ordinary items & before tax	163.20	(171.98)
Provision for taxation (Net of deferred tax)	27.35	7.24
Profit (Loss) after tax	135.85	(179.22)
Amount available for appropriation
Appropriations
Transfer to Statutory Reserve maintained u/s 45IC of RBI Act, 1934 (including short provision for earlier years)	27.17	Nil
Proposed dividend	-	-
Tax on proposed dividend	-	-
Balance carried to Balance Sheet	108.68	(179.22)

(B) Operations:

The gross amount of loans provided by the Company stood at Rs.1,756.59 lakhs as on 31st March, 2025 as compared to Rs. 202.49 Lakhs as on 31st March, 2024.

(C) Adoption of Ind-AS Standards:

The Company being a Listed Non-Banking Finance Company is required to prepare its financial statements in accordance with the Ind-AS standards with effect from April 1, 2019.

Accordingly, your Directors have framed the required policy for such adoption and transition to Ind-AS standards. The present financial statements have been prepared as per Ind-AS standards.

(D) The World Economic Scenario:

The global economy is projected to slow down to 2.4% growth in 2025, down from 2.9% in 2024, with both developed and developing economies facing challenges. Downward growth revisions are driven by factors like weakening global trade and investment, rising trade tensions, and financial sector stress. Inflation is easing, but short-term risks remain due to tariff-driven cost pressures and uncertainty. Indias 2025-26 economic outlook will likely hinge on delicately balancing evolving trade relations and efforts to boost domestic consumer demand. The tax exemptions announced in the budget will increase consumer spending and may boost GDP by 0.6% to 0.7%. However, uncertainty around the tariff rates imposed by the United States on Indian exports could offset those gains by 0.1% to 0.3%. Deloittes outlook remains optimistic, but cautious.

2. EXTRACT OF ANNUAL RETURN (FORM MGT-9):

As required under section 134 (3) (a) of the Indian Companies Act, 2013, the Annual return for the financial year 2024-25 is put up on the Companys website and can be accessed at https://kumbhatfinancialserviceslimited.com/wp-content/uploads/2025/06/KFSL-Form-MGT-7- 2024-2025.pdf

3. NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW:

The Board met ten times during the financial year, the details of which are given hereunder. The maximum interval between any two meetings did not exceed 120 days, as prescribed in the Companies Act, 2013.

Quarter	Date of Board Meeting
1st April, 2024 to 30th June, 2024	08.04.2024
	11.05.2024
	22.05.2024
	12.06.2024
1st July, 2024 to 30th September, 2024	16.07.2024
	17.08.2024
	18.09.2024
1st October, 2024 to 31st December, 2024	11.11.2024
1st January, 2025 to 31st March, 2025	04.02.2025
	18.02.2025

4. COMPLIANCE WITH SECRETARIAL STANDARDS:

During the year under review, the Company has followed applicable Secretarial Standards, i.e. SS- 1 and SS-2, relating to ‘Meetings of the Board of Directors and ‘General Meetings respectively issued by the Institute of Company Secretaries of India.

5. DIRECTORS RESPONSIBILITY STATEMENT:

In accordance with the provisions of section 134(5) of the Companies Act, 2013, the Board hereby submits its responsibility statement:

(a) In the preparation of the annual accounts for the 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 at the end of the financial year and of the profit and 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 this Act 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 laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

(f) The Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and such systems were adequate and operating effectively.

6. EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLOSURES MADE BY THE STATUTORY AUDITORS:

The observations made by the auditors in their report and notes to the accounts referred to in the Auditors Report are self-explanatory. There were no qualifications, reservations/modifications or adverse remarks made by statutory auditors in the respective report.

7. EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLOSURES MADE BY THE SECRETARIAL AUDITORS:

The observations made by the secretarial auditors are self-explanatory in nature and does not call for further explanation.

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

The Company being a Non-Banking Finance Company (NBFC) has in the ordinary course of business made loans or advances or given guarantees or provided securities or made investments in bodies corporate and other persons during the financial year. Your Directors would like to draw your attention to the notes to the financial statements which sets out the details of loans and investments made.

9. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE 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 are at arms length basis. The Company presents a statement of all related party transactions before the Board of Directors of the Company for their approval. Your Directors would like to draw your attention to the notes to the financial statements which set out related party disclosures. A statement in Form AoC-2 pursuant to the provisions of clause (h) of sub-section (3) of section 134 of the Act read with sub- rule (2) of rule 8 of the Companies (Accounts) Rules, 2014 is furnished in Annexure-1 and is attached to this report.

10. DETAILS OF AMOUNTS TRANSFERRED TO RESERVES:

During the financial year 2024-25, the Company recorded a profit of Rs.135.85 Lakhs. The company has transferred a sum of Rs.27.17 lakhs to the Statutory Reserves under the statutory provision relating to transfer of profits to statutory reserve maintained under section 45IC of the RBI Act. Accordingly the year-end balance of such statutory reserve stands at Rs.79.34 lakhs as at 31.03.2025

11. DIVIDEND:

In view of inadequacy of profits, your Directors do not recommend any dividend for the financial year ended 31st March, 2025.

12. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND:

The Company was not required to transfer any amounts in unpaid dividend account, application money due for refund, matured deposits, matured debentures and the interest accrued thereon which have remained unclaimed or unpaid for a period of seven years to Investor Education and Protection Fund.

13. MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS RELATE AND THE DATE OF THIS REPORT (01-04-2025 to 23-05-2025):

There were no material changes and commitments affecting the financial position of the Company between the periods 1st April, 2025 to 23^rd May, 2025.

14. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO UNDER SECTION 134(3)(m) OF THE COMPANIES ACT, 2013 READ WITH RULE 8(3) OF THE COMPANIES (ACCOUNTS) RULES, 2014:

In terms of clause (m) of sub-section (3) of section 134 of the Companies Act, 2013 and the rules framed thereunder, the particulars relating to conservation of energy, technology absorption and foreign exchange earnings and outgo is given below:

1). CONSERVATION OF ENERGY:

(i) the steps taken or impact on conservation of energy;	Your company is not engaged in any manufacturing activity and thus i ts operations are not energy intensive. However, adequate measures are always taken to ensure optimum utilization and maximum possible saving of energy.
(ii) the steps taken by the Company for utilising alternate sources of energy;
(iii) the capital investment on energy conservation equipments;

2). TECHNOLOGY ABSORPTION:

(i) the efforts made towards technology absorption;	The Company has no activity relating to technology absorption.
(ii) the benefits derived like product improvement, cost reduction, product development or import substitution;
(iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)
(a) the details of technology imported;
(b) the year of import;
(c) whether the technology has been fully absorbed;
(d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof, and
(iv) the expenditure incurred on Research and Development.

3). FOREIGN EXCHANGE EARNINGS AND OUTGO:

(Amount in Lakhs)

Particulars	2024-25	2023-24
Value of exports calculated on FOB basis	-	-
Value of Imports calculated on CIF basis:
Raw Materials	-	-
Components and Spare parts	-	-
Capital Goods	-	-
Expenditure in Foreign Currency:
Travel	-	-
Others	-	-

15. DETAILS OF CHANGE IN NATURE OF BUSINESS, IF ANY:

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

16. CHANGES IN DIRECTORS AND KEY MANAGERIAL PERSONNEL:

In accordance with the provisions of section 152 of the Companies Act, 2013 read with the Companies (Appointment and Qualification of Directors) Rules, 2014 and the Companys Articles of Association, Shri. SANJAY KUMBHAT (DIN: 03077193), retires by rotation at the forthcoming Annual General Meeting and he being eligible, offers himself for re-appointment. The Board recommends the re-appointment.

Shri. S. RAMABADRAN (DIN: 01280165) was appointed as independent director at the 28th Annual General Meeting held on 06th August, 2021 to hold office from 15th December, 2020 to 14th December, 2025 and has expressed his willingness to continue for the second term.

Shri. S.RAMABADRAN (DIN: 01280165) has given his declarations to the Board that he meets the criteria of Independence as provided under subsection (6) of section 149 of the Act and the rules made thereunder

The Nomination and Remuneration Committee of the Company have recommended to the Board of Directors the reappointment of Shri. S.RAMABADRAN (DIN: 01280165) as an Independent Director for a term of five consecutive years up to the conclusion of the 37th Annual General meeting.

In the opinion of the Board, Shri. S.RAMABADRAN (DIN: 01280165) fulfils the conditions specified in the Act and the rules framed thereunder for his appointment as Independent Directors and that he is independent of the management of the Company.

Shri. S.RAMABADRAN (DIN: 01280165) has given the statement of disclosures pursuant to regulations 26(4) and 36(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015.

17. PERFORMANCE:

In compliance with the Companies Act, 2013 and regulation 17 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, the performance evaluation of the Board, its Committees and individual Directors was carried out during the year under review. Questionnaire approach was adopted for said evaluations. The Nomination and Remuneration Committee (NRC) at its meeting carried out a separate exercise for evaluating every Directors performance. The evaluation of Independent Directors was carried out without the presence of the said Directors. A separate meeting of the Independent Directors was convened which reviewed the performance of the Board (as a whole), the non-independent directors and the Chairman.

The said meetings was held on 06.06.2024 followed by Independent Directors meeting on 03.02.2025 during the financial year. Some of the key criterias for performance evaluation were as follows:

Performance evaluation of Board and Committees:

1. Degree of fulfilment of key responsibilities;

2. Board structure and composition;

3. Effectiveness of Board processes, information and functioning;

4. Board Culture and Dynamics;

5. Quality of relationship between the Board and the Management; and

6. Establishment and delineation of responsibilities to committees.

Performance evaluation of Directors:

1. Provide meaningful and constructive contribution and inputs in meetings;

2. Display a good degree of understanding of the company, industry, sector, geography; and

3. Display independence of judgment.

18. FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS:

The Independent Directors of the Company are persons of integrity, possessing rich experience and expertise in the field of corporate management, finance, capital market, economic and business information. The Company has issued appointment letter to the Independent Directors setting out in detail, the terms of appointment, duties, roles & responsibilities and expectations from the appointed Director. The Board of Directors including independent directors have complete access to the information within the Company. Presentations are regularly made to the Board of Directors / Audit Committee / Nomination & Remuneration Committee / Stakeholders Relationship Committee on various related matters, where Directors have interactive sessions with the Management.

19. SUBSIDIARY:

The Company does not have any subsidiary companies or associate companies or joint ventures.

20. INTERNAL FINANCIAL CONTROLS:

The Board has adopted the policies and procedures for ensuring the orderly and efficient conduct of business, including adherence to the Companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial disclosures. The Company has in place adequate internal financial controls with reference to financial statements. During the year under review, such controls were tested and no reportable material weaknesses in the design or operation were observed. This is further strengthened by periodical review of the accounts and systems by Internal Auditors, M/s R V J & Company, the internal auditors of the company.

21. DEPOSITS:

Your Company has neither accepted nor renewed any deposits from public within the meaning of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014 during the financial year and as such, no amount of principal or interest was outstanding as on the Balance Sheet date.

22. MATERIAL ORDERS PASSED BY REGULATORY AUTHORITIES:

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

23. RISK MANAGEMENT POLICY:

Evolving global trade relations are expected to influence Indias economic trajectory: Indias strong trade relations with the United States, which is also the nations largest trading partner, will likely impact the nations trade balance and economic growth significantly due to the shifting global trade landscape. Given that the trade-weighted average MFN tariff rate imposed on Indian goods imports is among the highest in the world (12%), India is vulnerable to reciprocal tariffs, which are being deliberated currently between the two nations In 2025-26, Financial Institutions will be affected mostly by Cyber and AI related risks, Geopolitical risks, Climate Change risk responses, High Interest Rates and Regulation. The growth of AI brings both threats and opportunities. Financial services organisations are ranked top in the use of AI as a competitive advantage.

The future of risk management is shaped by emerging trends and technologies that empower organizations to proactively identify, assess, and mitigate risks. Artificial intelligence, machine learning, cyber security, big data analytics, and effective risk governance are key pillars in this transformation.

Risk governance plays a vital role in effective risk management. It involves establishing clear risk management frameworks, policies, and procedures to ensure accountability and transparency. With the evolving risk landscape, organizations need to adopt a proactive approach to risk governance. This includes developing risk management strategies aligned with business objectives, fostering a risk-aware culture, and integrating risk management into decision-making processes at all levels of the organization.

Traditional risk management approaches often rely on periodic assessments. However, the future of risk management lies in continuous monitoring and adaptive risk management practices. By leveraging real-time data, organizations can detect emerging risks promptly and respond proactively. Adaptive risk management involves agile decision-making, adjusting risk mitigation strategies based on evolving threats, and embracing a flexible and dynamic risk management framework

Risk Management Committee met two times and has taken note of the following factors in analyzing the risk.

Step 1:	Identify the Risk.
Step 2:	Analyze the risk.
Step 3:	Evaluate the Risk or Risk assessment.
Step 4:	Treat the Risk.
Step 5:	Monitor and Review the Risk.
Step 6:	Cyber and AI related risks
Step 7:	Climate Change risk responses, High Interest Rates and Regulations
Step 8:	Trade and Tariff Risk

The Company has laid down a Comprehensive Risk assessment and minimization procedure which is reviewed by the Board from time to time. These procedures are reviewed to ensure that executive management controls risks through means of a properly defined framework. Key business risks and their mitigation are also considered in the annual / strategic business plans and in periodic management reviews.

Although the Company does not have a formal risk management policy but a formal enterprise- wide approach to Risk Management is being adopted by the Company and key risks will now be managed within a unitary framework

Added to that the Trade and Tariff developments have posed a big threat to all economies and a shift in economic growth by spreading market operations and new avenues of growth is likely to take place and this risk factor needs to addressed.

24. DETAILS OF REVISION OF FINANCIAL STATEMENTS:

There was no revision of the financial statements of the company during the financial year.

25. SHARES AND SHARE CAPITAL:

a. CAPITAL STRUCTURE:

As at 31st March, 2025 the Authorised Share Capital of your Company was Rs.1500 lakhs comprising of 150 lakhs Equity Shares of Rs.10/- each and the Paid-up Share Capital was Rs.532.80 lakhs comprising of 53.28 lakhs Equity Shares of Rs.10/- each.

b. BUY-BACK OF SHARES:

The Company has not bought back any of its securities during the financial year.

c. SWEAT EQUITY:

The Company has not issued any Sweat Equity Shares during the financial year.

d. BONUS SHARES:

No Bonus Shares were issued during the financial year.

e. EMPLOYEES STOCK OPTION PLAN:

The Company has not provided any Stock option Scheme to the employees during the financial year.

26. STATUTORY AUDITORS:

The Board appointed M/s. PKF Sridhar & Santhanam LLP, Chartered Accountants (FRN 003990S/ S200018) as Statutory Auditors from the conclusion of 31st AGM till the conclusion of 36th AGM. However, M/s. PKF Sridhar and Santhanam LLP, chartered accounts have expressed their intention to resign by their letter dated 23.05.2025. They will hold their position until the conclusion of the 32^nd AGM and will continue and complete the review the first quarter of 2025-26. The company has identified M/s. Joseph & Rajaram, Chartered Accountants (FRN 001375S) and are being considered for appointment from the conclusion of this 32nd AGM till the conclusion of 37th AGM. They have signified their consent and availability to be the statutory Auditors of KUMBHAT FINANCIAL SERVICES LIMITED from the conclusion of 32^nd Annual general meeting for a period of five financial years from 2025-26 to 2029-30 .They hold peer review certificate. The Board recommends their appointment for being adopted at the 32^nd Annual general meeting. None of the directors are interested in the resolution covering their appointment.

27. SECRETARIAL AUDITORS:

Further, pursuant to provisions of Section 204 of the Companies Act, 2013, and relevant rules thereunder and Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations"), every listed company is required to annex with its Boards Report, a secretarial audit report, issued by a Practicing Company Secretary. Pursuant to the Listing Regulations, shareholders approval is required for appointment of Secretarial Auditors. Further, such Secretarial Auditor must be a peer reviewed Company Secretary from Institute of Company Secretaries of India (ICSI) and should not have incurred any of the disqualifications as specified by SEBI. In light of the aforesaid, the Board of Directors of the Company, pursuant to the recommendations of the Audit Committee, and after considering the experience, market standing, efficiency of the audit teams and independence, has recommended the appointment of M/s. Mundhara & Co, Practising Company Secretaries, as the Secretarial Auditors of the Company for a term of five consecutive financial years commencing from April 1, 2025 till March 31, 2030. The report of the Secretarial Auditors is annexed to this report.

28. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

Your Company has always believed in providing a safe and harassment free workplace for every individual working in the Companys premises through various interventions and practices. The Company always endeavors to create and provide an environment that is free from discrimination and harassment including sexual harassment.

The Company has adequate measures including checks and corrections in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment.

The following is a summary of sexual harassment complaints received and disposed of during the financial year:

? No. of Complaints received	: NIL
? No. of Complaints disposed off	: NIL
? No. of cases pending for more than 90 days	: NIL
? No. of workshops / awareness programmes carried out	: NIL
? Nature of action taken by the employer / DO	: Not Applicable

29. RESERVE BANK OF INDIA REGULATIONS:

Your Company is generally complying with the directions of the Reserve Bank of India regarding prudential norms of accounting, capital adequacy ratio, provisions for bad and doubtful debts and other requirements as per the directions issued from time to time.

RBI by their notification - RBI/2021-22/112 DOR.CRE.REC.No.60/03.10.001/2021-22 dated 22.10.2021 prescribed Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs by requiring NBFCs to top up their net owned funds to not less than Rs.5 crores as on 31.03.2025 and to not less than Rs.10.00 crores on 31.03.2027. We are pleased to inform you that the company has achieved the set target as on 31.03.2025. The company is positive to achieve the RBI set target of not less that Rs. 10.00 crores by 2027.

30. Prefrential issue of Shares.

With approval of shareholders at the EGM held on 17.03.2025 and with the approval of Bombay Stock Exchange 5,78,000 shares were issued / allotted to Shri. Sanjay Kumbhat at a price of Rs.24.00 per share on 29.03.2025. This is part of the exercise to subscribing the net owned funds to more than five crores as on 31.03.2025

With this preferential issue the Subscribed Capital of the Company stands at Rs.532.8 Lakhs on the balance sheet date i.e 31.03.2025

31. CORPORATE GOVERNANCE:

Report of Corporate Governance for the financial year and Management Discussion and Analysis are forming part of this Annual report.

32. COMPOSITION OF AUDIT COMMITTEE:

The Board has constituted the Audit Committee, which comprises of Shri. SAKTHIVEL MURUGAN- Independent Director as Chairman, Shri. S. RAMABADRAN, Independent Director and Shri. SANJAY KUMBHAT as the members of the committee. More details on the committee are given in the Corporate Governance Report.

33. CERTIFICATE FROM MANAGING DIRECTOR AND CHIEF FINANCIAL OFFICER:

A certificate has been obtained from Shri. SANJAY KUMBHAT (DIN: 03077193), Managing Director and Smt. V.PREMALATHA (PAN : ANWPP2996F), Chief Financial officer as required under regulation 34(3) of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015 on Corporate Governance which is enclosed and is forming part of this Report.

34. LISTING AT STOCK EXCHANGE:

The Equity Shares of the Company continue to be listed on The Bombay Stock Exchange Limited. With regard to other stock exchanges where the shares of the Company were earlier listed, viz., The Madras Stock Exchange Limited, The Hyderabad Stock Exchange Limited, The Coimbatore Stock Exchange Limited and The Ahmedabad Stock Exchange Limited, your Directors would like to state that the said exchanges have been closed by the orders of Securities and Exchange Board of India (SEBI) and any communications with the said exchanges are returned undelivered.

35. CERTIFICATE ON COMPLIANCE WITH THE CONDITIONS OF CORPORATE GOVERNANCE UNDER THE LISTING AGREEMENT AND THE SEBI (LISTING OBLIGATIONS & DISCLOSURE REQUIREMENTS) REGULATIONS, 2015:

A certificate from the Statutory Auditors of the Company regarding compliance with the Code of Corporate Governance is forming part of this annual report.

36. MANAGEMENTS DISCUSSION AND ANALYSIS:

In terms of the provisions of regulation 34(3) of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, the required Managements Discussion and Analysis is set out in this Annual Report.

37. DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received necessary declaration from each independent director under section 149(7) of the Companies Act, 2013 that he/she meets the criteria of independence laid down in section 149(6) of the Companies Act, 2013 and regulation 17 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015.

38. EMPLOYEE REMUNERATION:

The ratio of the remuneration of each director to the median employees remuneration and other details in terms of sub-section (12) of section 197 of the Companies Act, 2013 read with rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are forming part of this report and are annexed as Annexure-2 to this report.

39. CORPORATE SOCIAL RESPONSIBILITY:

The provisions of section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 are not applicable to the Company.

40. ACKNOWLEDGMENTS:

Your Directors wish to acknowledge all their stakeholders and are grateful for the excellent support received from the shareholders, bankers, and financial institutions, government authorities, esteemed clients, customers and other business associates. Your Directors recognize and appreciate the hard work and efforts put in by all the employees of the Company and their contribution to the growth of the Company in a very challenging environment.

For and on behalf of the Board,

(SANJAY KUMBHAT)	(SARIKA KUMBHAT)	(V.PREMALATHA)	(S. MOHANRAJ)
Managing Director	Director	Chief Financial Officer	Company Secretary
DIN: 03077193	DIN: 08032091	PAN: ANWPP2996F	PAN: AANPM0947K
Old. No-232/4, New. No.27/4	Old. No-232/4, New. No.27/4	No. 3/568, Manaikara Street,	No. 9/1442, I Block,
Kilpauk Garden Road,	Kilpauk Garden Road,	Perumuchi Arakkonam,	1st Floor, 33rd Street,
Kilpauk - Chennai-600010.	Kilpauk - Chennai-600010.	Vellore 631002.	Anna Nagar West,
			Chennai 600 040.

Place : Chennai

Date : 23.05.2025