Mono Pharmacare Ltd Directors Report

Dear Members,

Your directors have pleasure in presenting the 4 th Board s Report of Mono Pharmacare Limited ( the Company ) for the year ended on March 31, 2026 ( period under review ).

1. Financial Summary of the Company

(Rs. in Lakhs)

Particulars			Standalone		Consolidated
			For the year	For the year	For the year	For the year
			ended March	ended March	ended	ended March
			31, 2026	31, 2025	March 31,	31, 2025
					2026
Gross Total Income / Gross			9291.59	8517.65	16570.59	16932.38
Receipt
Profit Before Interest &			204.44	509.95	400.85	861.72
Depreciation
Less: Interest	& Financial		(154.07)	(124.27)	(331.79)	(402.55)
Cost
Profit Before Depreciation			50.37	385.68	69.06	459.17
& Taxation
Less: Depreciation			(7.61)	(8.36)	(11.42)	(12.87)
Profit After Depreciation			42.77	377.32	57.64	446.3
Before Tax
Less: Current Income tax			(10.76)	(71.60)	(25.65)	(139.00)
Previous Year Adjustment			0.00	0.00	0.00	0.00
of Income Tax
Deferred tax	Assets/		(-3.30)	(-3.30)	(-3.30)	(-3.30)
Liability (-)
Net Profit	After	Tax	35.30	309.02	35.29	310.59
before Minority Interest
Minority Interest			0.00	0.00	-0.01	-1.57
Net profit after tax		and	35.30	309.02	35.28	309.02
Minority Interest
APPROPRIATIONS			-	-	-	-
Proposed Dividend			0.00	0.00	0.00	0.00
Tax on Proposed Dividend			0.00	0.00	0.00	0.00
Transfer to	General		0.00	0.00	0.00	0.00
Reserve
Balance Carried Forward			35.30	309.2	35.28	309.2
to Next Year

2. State of the Company s affairs & Future Prospects:

During the financial year under review, the Company continued to strengthen its presence in the pharmaceutical sector by carrying on the business of manufacturing, processing, marketing, trading, importing, exporting, and distributing pharmaceutical formulations, bulk drugs, vitamins, tonics, vaccines, diagnostic products, medical gases, and other healthcare products. The Company remained focused on delivering quality products, expanding its customer base, and enhancing operational efficiency while ensuring compliance with all applicable statutory and regulatory requirements.

Looking ahead, the Company intends to strengthen its product portfolio, improve operational efficiencies, and explore new business opportunities in the pharmaceutical and healthcare industry.

Highlights of Financial Performance:

During the financial year under review, the Companys Standalone Net Revenue from Operations increased to Rs. 9,291.59 Lakhs in FY 2025 26 from Rs. 8,517.65 Lakhs in the previous financial year, registering a growth of 9.09%. However, the Profit After Tax decreased to Rs. 35.30 Lakhs in FY 2025 26 from Rs. 309.20 Lakhs in the previous financial year, representing a decline of 88.58%.

On a consolidated basis, the Net Revenue from Operations stood at Rs. 16,570.59 Lakhs in FY 2025 26 as against Rs. 16,932.38 Lakhs in the previous financial year, reflecting a decline of 2.14%. The Profit After Tax also decreased to Rs. 35.28 Lakhs in FY 2025 26 from Rs. 309.20 Lakhs in the previous financial year, representing a decline of 88.59%.

The Board of Directors remains optimistic about the Companys long-term growth prospects. Despite the challenges faced during the year, the Company achieved growth in its standalone revenue, reflecting the resilience of its business operations. The Board is confident that the measures undertaken to strengthen operational efficiency, improve profitability, and enhance compliance will support sustainable growth.

3. Transfer to Reserves:

During the year under review, the Company has not transferred any amount to reserves.

4. Dividend:

The Directors have not recommended any Dividend during the year under review due to conservation of profits and continued investment in the business.

5. Change in the nature of Business:

There has been no change in the nature of Business of the Company during the year under review.

6. Material Changes and commitments affecting the financial position of the Company:

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.

7. Share Capital:

Authorised Capital:

The Authorised Share Capital of the Company as on March 31, 2026 is Rs. 20,00,00,000/- (Rupees Twenty Crores Only) divided into 2,00,00,000 (Two Crore) Equity Shares having Face Value of Rs. 10/- (Rupees Ten Only) each.

Paid up Capital: the Paid-up Equity Share Capital of the Company as on March 31, 2026 is Rs. 17,66,85,640 /- (Rupees Seventeen Crores Sixty-Six Lakhs Eighty-Five Thousand Six Hundred and Forty Only) consisting of 1,76,68,564 (One Crore Seventy-Six Lakhs Sixty-Eight Thousand Five Hundred and Sixty-Four Only) Equity Shares having Face Value of Rs. 10/- (Rupees Ten Only) each.

8. Subsidiaries, Associates and Joint Venture:

Our Company neither has a Holding company nor has any Subsidiary Company. However, the Company holds 99 % stake as partner in M/s Ahmedabad Medical Corporation and in M/s Supal Distributors LLP. Details of the same are mentioned in Annexure A (Form AOC-1) annexed to this report.

9. Statutory Auditor & Audit Report:

Pursuant to the provisions of Section 139 and other applicable provisions, if any, of the Companies Act, 2013, the Members of the Company at the 1 st Annual General Meeting (AGM) held on 26 th August, 2023 have appointed M/s. Kumbhat & Co. having (FRN: 001609S), Chartered Accountants as Statutory Auditors of the Company to hold office for a period of 5 (Five) years from the conclusion of First Annual General Meeting till the conclusion of the Sixth Annual General Meeting of the Company.

During the financial year, M/s. Kumbhat & Co., Chartered Accountants (FRN: 001609S), tendered their resignation as the Statutory Auditors of the Company vide their resignation letter dated 11th March, 2026.

To fill the casual vacancy caused by the resignation of M/s. Kumbhat & Co., Chartered Accountants (FRN: 001609S), and to complete the statutory audit for the Financial Year 2025 26, the Members of the Company, at the Extraordinary General Meeting (EGM) held on 30th June, 2026, approved the appointment of M/s. R K Mergu & Co., Chartered Accountants (FRN: 136876W), as the Statutory Auditors of the Company. They shall hold office from the date of their appointment until the conclusion of the ensuing Annual General Meeting of the Company, in accordance with the provisions of the Companies Act, 2013.

Further the Company have received the consent of M/s. R K Mergu & Co Chartered Accountants, having (FRN: 136876W), for their appointment as the Statutory Auditor of the Company for a term of 5 (Five) year to hold office from the conclusion of this Annual General Meeting (AGM) of the Company till the conclusion of the 9 th AGM of the Company to be held for the financial year 2030-31.

The Auditors Report does not contain any qualification. Notes to Accounts and

Auditors remarks in their report are self-explanatory and do not call for any further comments.

10. SECRETARIAL AUDITOR:

The Board has appointed M/s. Surana & Kothari Associates LLP, Ahmedabad a firm of Company Secretaries in Practice, to carry out Secretarial Audit under the provisions of Section 204 of the Companies Act, 2013 for the Financial Year 2025-26. The report of the Secretarial Auditor is annexed to this report as Annexure B.

Disclosure on Regulatory Non-Compliance

During the year under review, the Company has faced certain instances of non-compliance with the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, SEBI (Prohibition of Insider Trading) Regulations, 2015, SEBI (Depositories and Participants) Regulations, 2018, and relevant SEBI Circulars. These include delays in submission of Integrated Governance filings, Reconciliation of Share Capital Audit Reports, Certificates of Dematerialisation, Shareholding Pattern, Financial Results, and disclosures relating to resignation of Auditors. Further, the Initial and Annual Disclosures regarding Large Corporate status were submitted belatedly.

The Stock Exchange has levied aggregate penalties of 4,50,760 in respect of delayed filings, which remain unpaid as on the date of this Report. In addition, there was a delay in payment of Annual Listing Fees to NSE, resulting in levy of applicable interest.

It is also reported that one of the Independent Directors has not cleared the Online Proficiency Self-Assessment Test as mandated under Rule 6(4) of the Companies (Appointment and Qualification of Directors) Rules, 2014, thereby affecting the effective composition of the Board under Section 149(4) of the Companies Act, 2013. Further, there was a delay of 131 days in maintaining the prescribed composition of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee, which was subsequently rectified.

Except for the above, the Board of Directors is duly constituted with proper balance of Executive, Non-Executive, and Independent Directors, and changes in composition during the year were carried out in compliance with applicable provisions of the Companies Act, 2013 and SEBI Regulations.

Management s Response and Corrective Actions

The Board of Directors and Management acknowledge the instances of non-compliance reported during the year under review. The delays were primarily attributable to procedural lapses, transition in key managerial positions, and delays in finalisation of audited financial statements.

To prevent recurrence, the Company has initiated the following corrective measures:

Strengthening Compliance Monitoring: A dedicated compliance calendar has been implemented, integrating SEBI, Companies Act, and NSE requirements, with automated alerts for due dates.

Independent Director Eligibility: The Company has initiated steps to regularise the position of Independent Directors in compliance with Section 149(4) of the Companies Act, 2013, including ensuring completion of the Online Proficiency Self-Assessment Test.

Committee Composition: The Committees of the Board have been reconstituted and are now fully compliant with statutory requirements.

Payment of Dues: The Company is in the process of clearing the outstanding penalties and listing fee dues with NSE.

The Board assures stakeholders that compliance remains a top priority and continuous improvements are being made to strengthen governance standards and regulatory adherence.

11. Reporting of fraud:

The Statutory Auditors have not reported any incident of fraud to the Audit Committee of the Company under subsection (12) of section 143 of the Companies Act, 2013, during the year under review.

12. Details of Directors or Key Managerial Personnel:

The Board of Directors of the Company is duly constituted in accordance with the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as applicable. However, due to the resignation of certain Director(s), the composition of the Board was not in compliance with the applicable requirements during the period from January 2026 to March 2026. The Company subsequently took necessary steps to reconstitute the Board, and the Board composition was duly brought in compliance with the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

As on 31st March, 2026, the Board of Directors and the Key Managerial Personnel of the Company comprised the following:

Sr. No.	Name	Designation	DIN
1	Panilam Lakhatariya	Managing Director	07659275
2		Non- Executive	07659180
	Supal Lakhatariya
		Director
3	Chintan Trivedi	Independent Director	10074674
4	Drashti Rohit Chande	Independent Director	10380640
5	Neha Chetan Prajapati	CFO	-
6	Rahul Joshi	Company Secretary	-

There has been change in the Key Managerial Personnel and the constitution of Board of Directors during the year under review. The details of the change are as below:

Sr.	Name of the	Designation	Date of	Reason for
No.	Director / Key		Change	Change
	Managerial
	Personnel
1		Director	29/11/2025
	Archit Shah			Resignation
2		Non- Executive	29/11/2025	Change in
	Supal Lakhatariya
		Director		designation
3		Independent	23/01/2026
	Jitendra Dasani			Resignation
		Director

Change in designation of Mrs. Supal Lakhatariya from Executive Director to Non- Executive Director w.e.f. 29 th November, 2025.

In accordance with the provisions of Section 152 and other applicable provisions, if any, of the Companies Act, 2013 and the Articles of Association of the Company, Mr. Panilam Lakhatariya (DIN: 07659275), Managing Director of the Company, will retire by rotation at the ensuing Annual General Meeting and being eligible offers himself for reappointment.

13. Deposits:

The Company has not invited / accepted any deposits from the public during the year under review.

14. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and

Outgo:

(A)Conservation of Energy:

The steps taken or impact on conservation of energy	Nil
The steps taken by the company for utilizing alternate sources of	Nil
energy
The capital investment on energy conservation equipment \u2019 s	Nil

(B) Technology Absorption:

(i)	The efforts made towards technology absorption		N.A.
(ii)	The benefits derived like product improvement,	cost	N.A.
	reduction, product development or import substitution
(iii)	In case of imported technology (imported during last three		N.A.
	years reckoned from the beginning of the financial years)
	(a) The details of technology imported
	(b) The year of import
	(c) Whether the technology been fully absorbed
	(d) If not fully absorbed, areas where absorption has not
	taken place, and the reasons thereof
(iv)	The expenditure incurred on Research and Development		N.A.

(C) Foreign Exchange Earnings and Outgo:

During the year under review, there was no foreign exchange inflow or outflow during the year under review. (Rs. in Lakhs)

Foreign Exchange Earnings	Nil
Foreign Exchange Outgo	Nil

15. Extract of Annual Return:

Pursuant to the provisions of Section 92 of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014 the Annual Return of the Company shall be placed on the website of the Company. Link for the same is https://monopharmacareltd.com/.

16. Particulars of Contracts or Arrangements Made with Related Parties:

During the period under review, there was no contract or arrangements made with the related parties as defined under Section 188 of the Companies Act, 2013. However, Company has made commercial transaction with its related parties in the ordinary course of business and on an arm s length basis. The particulars of contracts or arrangements with related parties referred to in Section 188(1) of the Companies Act, 2013 are provided in Annexure-C in Form AOC-2, forming part of this Report.

17. Business Risk Management:

In todays dynamic business environment, effective risk management is integral to the Companys sustainable growth and long-term success. The Company has established a process to identify, evaluate, monitor and mitigate risks that may affect its business and operations. The Board of Directors periodically reviews the key risks facing the Company and ensures that appropriate mitigation measures are in place to safeguard the interests of the Company and its stakeholders.

The Company has identified key business risks, including price risk, uncertainties in the global economic environment, interest rate risk, human resource risk, competition, regulatory and compliance risks, and industrial health and safety risks, and continues to implement appropriate measures to manage and mitigate these risks effectively.

18. Corporate Social Responsibility:

The Company is not required to constitute a Corporate Social Responsibility Committee as it does not fall within purview of Section 135(1) of the Companies Act, 2013 and hence it is not required to formulate policy on corporate social responsibility.

19. Number of meetings of the Board:

A total of numbers of Board Meetings was held during the Financial Year ended March 31, 2026. The maximum gap between any two Board Meetings not more than 120 days.

			Attendance
SR.NO.	Date of meeting	Total Number	Number	% of
	(DD/MM/YYY)	of directors	directors	attendance
		as on the date	attended
		of meeting
1.	30/05/2025	6	6	100%
2.	26/08/2025	6	3	50%
3.	29/11/2025	6	6	100%
4.	30/03/2026	4	4	100%

20. Directors Responsibility Statement:

Pursuant to Section 134(5) of the Act, the Board of Directors, to the best of its knowledge and ability, confirm that: a) In the preparation of the annual accounts for the Financial Year ended March 31, 2026, the applicable accounting standards had been followed and there are no material departures from the same;

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 for the Financial Year ended on March 31, 2026 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) Proper internal financial controls to be followed by the Company has been laid down and that such internal financial controls are adequate and were operating effectively

f) 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.

21. Declaration by Independent Directors:

The Company has received declarations/ confirmations from all the Independent Directors of the Company as required under Section 149(6) of the Act read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 and Regulation 25(8) of the SEBI Listing Regulations, 2015. ( Subject to the remarks stated in Paragraph 10 & 12 of this Board s Report )

22. Policy on Nomination and Remuneration (NRC):

In compliance with the requirements of Section 178 of the Act and Regulation 19 of the SEBI Listing Regulations, 2015, the Company has laid down a Nomination and Remuneration Policy.

The salient features of the NRC Policy are as under:

1. Setting out the objectives and scope of the Policy.

2. Defining the terms and expressions used in the Policy.

3. Laying down the criteria for appointment, re-appointment and removal of Directors, Key Managerial Personnel and Senior Management Personnel.

4. Providing the framework for remuneration of Directors, Key Managerial Personnel, Senior Management Personnel and other employees.

5. Prescribing the remuneration framework for Non-Executive and Independent Directors.

6. Providing for evaluation of the performance of the Board, its Committees and Individual Directors.

7. Establish a vigil mechanism for directors and employees to report genuine concerns in such manner as may be prescribed;

23. Particulars of loans, guarantees or investments under section 186:

The Company has neither granted any loans nor made any investments covered under Section 186 of the Companies Act, 2013 during the period under review. The Company has also not provided any guarantees during the said period.

24. Significant and material orders passed by the Regulators or Courts or Tribunals impacting the going concern status and Companys operations in future:

No significant and material order has been passed by the Regulators, Courts, Tribunals impacting the going concern status and Company s operations in future.

25. Adequacy of internal financial controls with reference to the Financial Statements:

The Company s internal control procedures that include internal financial controls ensure compliance with various policies, practices and statutes and keeping in view the organization s pace of growth and increasing complexity of operations.

26. Maintenance of Cost Records:

The provisions pertaining to maintenance of Cost Records as specified by the Central Government under Section 148(1) of the Companies Act, 2013 are not applicable to the Company.

27. Particulars of Employee:

None of the employee has received remuneration exceeding the limit stated in Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. Disclosure under Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is given in Annexure D .

28. Details of Applications Made or Proceeding Pending, If any under The Insolvency and Bankruptcy Code, 2016:

During the period under review, no application has been made nor is any application pending by / against the Company under the Insolvency and Bankruptcy Code, 2016.

29. 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:

During the period under review, there was no instance of onetime settlement with any Bank / Financial Institution. Hence, the disclosure relating to difference between amount of the valuation done at the time of one-time settlement and the valuation done while taking loan from the Banks / Financial Institutions is not applicable to the Company.

30. Compliance with the Secretarial Standards:

During the period under review, the Company has complied Secretarial Standards-1 (SS-1) and Secretarial Standards-2 (SS-2) issued by the Institute of Company Secretaries of India.

31. Disclosure under Sexual Harassment of Women at Workplace (Prevention,

Prohibition and Redressal) Act, 2013:

The Company is committed to providing and maintaining a safe, secure and respectful workplace for women and to fostering a work environment that is free from sexual harassment.

The Company has adopted a Policy on Prevention of Sexual Harassment at Workplace in accordance with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH Act). An Internal Committee (IC) has been duly constituted in compliance with the provisions of the POSH Act to redress complaints relating to sexual harassment at the workplace.

The Policy applies to all women employees of the Company, whether permanent, contractual, temporary or trainees, as well as women visiting the Companys premises in connection with its business or operations, and aims to ensure a work environment free from sexual harassment, whether physical, verbal or psychological.

During the period under review, the Company has complied with the applicable provisions of the POSH Act and the rules made thereunder. The status of complaints received during the year is as under:

Number of complaints of sexual harassment received during the year: Nil Number of complaints disposed of during the year: Nil Number of complaints pending as on the end of the year: Nil

32. Maternity Benefit:

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. The Company continues to uphold its commitment to promoting diversity and creating a workplace where women employees feel valued and supported.

33. Committees and their composition:

(A)Audit Committee:

During the year under review, the Audit Committee held 4 meetings. The composition of the Committee and the attendance of its members at such meetings are as follows:

Sr.	Name of Director	Designation	No. of Meetings	No. of Meetings
No.			Entitled to Attend	Attended
1	Chintan Trivedi	Chairman	4	3
2	Jitendra Dasani	Member	4	2
3	Panilam Lakhatariya	Member	4	4

(B)Nomination and Remuneration Committee:

During the year under review, the Nomination and Remuneration Committee held 1 meeting. The composition of the Committee and the attendance of its members at such meetings are as follows:

Sr.	Name of Director	Designation	No. of Meetings	No. of Meetings
No.			Entitled to Attend	Attended
1	Drashti Chande	Chairman	1	1
2	Jitendra Dasani	Member	1	1
3	Chintan Trivedi	Member	1	1

(C) Stakeholders Relationship Committee:

During the year under review, the Stakeholders Relationship Committee held 1 meeting. The composition of the Committee and the attendance of its members at such meetings are as follows:

Sr.	Name of Director	Designation	No. of Meetings	No. of Meetings
No.			Entitled to Attend	Attended
1	Jitendra Dasani	Chairman	1	1
2	Chintan Trivedi	Member	1	1
3	Supal Lakhatariya	Member	1	1

34. Corporate Governance Report:

The Company is listed on the SME Platform of NSE, and therefore, the provisions relating to Corporate Governance specified under Regulations 17 to 27, clauses (b) to (i) of sub-regulation (2) of Regulation 46 and Paras C, D and E of Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are not applicable to the Company in terms of Regulation 15 thereof. The Company is exempt from complying with the Corporate Governance requirements specified under these Regulations.

35. Listing of securities:

The equity shares of the Company are listed on NSE emerge platform with security ID/symbol of MONOPHARMA. The ISIN for equity shares is INE0OIP01012. The Company confirms that the annual listing fees to the stock exchange for the Financial Year 2026-27 have been paid.

36. Internal Auditors:

The Board of Directors at their meeting held on May 30, 2025 appointed M/s. Kaliya & Associates, Chartered Accountant as internal auditor for the Financial Year 2025-26 in accordance with the provisions of Section 138 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014.

37. Management Discussion and Analysis Report

The Management Discussion and Analysis Report as required under Regulation 34 read with Schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations, 2015) forms part of this Annual Report and is annexed to the Directors Report as Annexure E.

The Report contains certain forward-looking statements based on the Companys current expectations, estimates and assumptions regarding future events. Actual results may differ materially from those expressed or implied in such statements due to various risks, uncertainties and other factors beyond the Companys control.

38. CFO Certification:

CFO Compliance Certificate as required under Regulation 17(8) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is given in Annexure-F .

39. Formal annual evaluation of the performance of the board, its committees & individual directors:

The Board conducted an evaluation of its own performance, its committees, and individual Directors, including Independent and Non-Independent Directors. The assessment covered various attributes such as expertise, diversity, and effectiveness in discharging duties. The Board concluded that all Directors possess the requisite capabilities and have contributed effectively to the Company s business.

40. Acknowledgment:

Your Directors would like to express their sincere appreciation for the assistance and cooperation received from the customers, employees, banks, Government authorities, vendors, consultants and members during the year under review.

ANNEXURE A

Form AOC-1

(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)

Statement containing salient features of the financial statement of Subsidiaries / associate companies / joint ventures

Part A : Subsidiaries

Company has not any Subsidiary Company, Hence Part A is not applicable.

Sl.	Particulars			Details
No.
1.	Name of the subsidiary				N.A.
2.	Reporting period	for	the		N.A.
	subsidiary concerned,	if different
	from the holding	company \u2019 s
	reporting period.
3.	Reporting currency and Exchange				N.A.
	rate as on the Last date of		the
	relevant financial year in the case
	of foreign subsidiaries
4.	Share capital	(Capital			N.A.
	Contribution)
5.	Reserves & surplus				N.A.
6.	Total assets				N.A.
7.	Total Liabilities				N.A.
8.	Investments				N.A.
9.	Turnover				N.A.
10.	Profit before taxation				N.A.
11.	Provision for taxation				N.A.
12.	Profit after taxation				N.A.
13.	Proposed Dividend				N.A.
14.	% of shareholding				N.A.

Notes:

1. Names of subsidiaries which are yet to commence operations: N.A.

2. Names of subsidiaries which have been liquidated or sold during the year: N.A.

Part B : Associates and Joint Ventures (Including Firms and LLP)

Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate Companies and Joint Ventures Amount in Rs.

Name of associates/Joint Ventures				AHMEDABAD	SUPAL
				MEDICAL	DISTRIBUTORS
				CORPORATION	LLP
1. Latest audited Balance Sheet Date				31 ST March, 2026	31 ST March, 2026
2.Shares of Associate/Joint		Ventures		N.A.	N.A.
held by
the company on the year end
Amount of	Investment		in	990,000	99,000
Associates/Joint
Venture
Extend of Holding %				99%	99%
3. Description of how there is significant				Holding 99% of Total Contribution and the
Influence				presence of common partners in both
				entities
4. Reason why	the	associate/joint		-	-
venture is
not consolidated
5. Net worth attributable to shareholding				48569093	58987075
as per latest audited Balance Sheet
6. Profit/Loss for the year				(3575225)	3472501
i. Considered in Consolidation				(3539472)	3437776
ii. Not Considered in Consolidation				(35753)	34725

Notes:

1. Names of associates or joint ventures which are yet to commence operations- N.A. 2. Names of associates or joint ventures which have been liquidated or sold during the year- N.A.