MRC Agrotech Ltd Directors Report

Dear Members,

Your Directors are pleased to present the 10th Annual Report of MRC AGROTECH LIMITED along with the Audited Financial Statements for the financial year ended 31st March, 2025.

FINANCIAL HIGHLIGHTS

(Amount in Rs.)

Particulars	Year ended March 31, 2025	Year ended March 31, 2024
Net Sales/Income from Operations	32,44,69,626	14,65,91,695
Other Income	57,11,343	52,67,201
Less: Expenditure	31,81,81,376	15,20,00,127
Profit/(Loss) before taxation	1,19,99,593	1,15,58,976
Less: Tax provisions	32,39,890	26,44,694
Deferred Tax	?	?
Prior Year Tax	?	?
Profit/(Loss) after tax	87,59,703	89,14,284

OPERATIONS REVIEW

The Income from operation for the financial year 2024-25, for the year under review was at Rs. 3244.69 Lakhs as compared to Rs. 1465.92 Lakhs during the financial year 2023-24 showing an increase of 121.34%.

SHARE CAPITAL

During the year under review the Company has issued shares on preferential basis. The total shares issued and allotted are 2,04,87,400 and all shares are in demat form. The company has complied with all the regulations for the said preferential allotment and has obtained trading approval from BSE.

DIVIDEND

With a view to strengthen the financial position of the Company, no dividend has been recommended for the financial year ended 31st March, 2025.

TRANSFER TO RESERVES

During the year under review, Rs. 89.59 lakhs was transferred to the reserves during the financial year ended 31st March, 2025.

TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

DIRECTORS AND KEY MANEGERIAL PERSONNEL

During the year, under review, there was no change in directorship of the company.

As per Section 152 of the Companies Act, 2013, Mr. Sanjay Kumar Singh (DIN: 06928519), shall retire by rotation at the ensuing Annual General Meeting of the Company and being eligible, may offer himself for re-appointment. The Board recommends his re-appointment at the ensuing Annual General Meeting. The Whole Time Directors and the Independent Directors of the Company are not considered for the purpose of retirement by rotation.

Mr. Jitendra Dhanaraj Jain (DIN: 00062457) resigned as an Independent Director. (w.e.f. ensuring AGM.)

Ms. Sudha Navin Agarwal, (DIN: 08848273) appointed as an Independent Director. (w.e.f. ensuring AGM.)

In view of the applicable provisions of the Companies Act 2013, the Company is mandatorily required to appoint whole time KMPs.

During the financial year 2024-25, 8 Meetings of the Board of Directors of the Company, 5 meetings of the Audit Committee, 5 meetings of the Nomination and Remuneration Committee 5 meetings of the Stakeholders Relationship Committee and 5 meetings of the Corporate Social Responsibility Committee were held.

The details of Board Meetings are given below:

Date	Serial Number
2nd May, 2024	01/2024-2025/BM
30th May, 2024	02/2024-2025/BM
14th August, 2024	03/2024-2025/BM
4th September, 2024	04/2024-2025/BM
25th September, 2024	05/2024-2025/BM
14th November, 2024	06/2024-2025/BM
14th February, 2025	07/2024-2025/BM
14th March, 2025	08/2024-2025/BM

The details of the Audit Commitee Meetings are given below:

Date	Serial Number
30th May, 2024	01/2024-2025/ACM
14th August, 2024	02/2024-2025/ACM
4th September, 2024	03/2025-2024/ACM
14th November, 2024	04/2024-2025/ACM
14th February, 2025	05/2024-2025/ACM

The details of the Nomination and Remuneration Commitee Meetings are given below:

Date	Serial Number
30th May, 2024	01/2024-2025/ACM
14th August, 2024	02/2024-2025/ACM
4th September, 2024	03/2025-2024/ACM
14th November, 2024	04/2024-2025/ACM
14th February, 2025	05/2024-2025/ACM

The details of the Stakeholders Relationship Commitee Meetings are given below:

Date	Serial Number
30th May, 2024	01/2024-2025/ACM
14th August, 2024	02/2024-2025/ACM
4th September, 2024	03/2025-2024/ACM
14th November, 2024	04/2024-2025/ACM
14th February, 2025	05/2024-2025/ACM

The details of the Corporate Social Responsibility Commitee Meetings are given below:

Date	Serial Number
30th May, 2024	01/2024-2025/ACM
14th August, 2024	02/2024-2025/ACM
4th September, 2024	03/2025-2024/ACM
14th November, 2024	04/2024-2025/ACM
14th February, 2025	05/2024-2025/ACM

DISCLOSURE OF ANNUAL RETURN

The extract of Annual Return, pursuant to the provisions of Section 92(3) of the Companies Act, 2013 and Rule 12 of the Companies (Management and administration) Rules, 2014, for the financial year ended 31st March, 2025, is furnished in Form MGT-9. The web address of the Company, where the Annual Return has been placed is as follows: www.mrcagrotech.com

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134[3][c] read with Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, confirm that:

a. in the preparation of the annual accounts, the applicable accounting standards have been followed and in case of any material departures, proper explanations have been given for the same in the accounts itself;

b. 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 at the end of the financial year and of the profit/loss of the Company for that period;

c. the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. the directors have prepared the annual accounts on a going concern basis;

e. the directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate operating effectively;

f. Being a listed company, the directors, have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

STATEMENT REGARDING OPINION OF THE BOARD WITH REGARD TO INTEGRITY, EXPERTISE AND EXPERIENCE (INCLUDING PROFICIENCY) OF THE INDEPENDENT DIRECTORS APPOINTED DURING THE YEAR

In terms of the provisions of rule 8(5)(iiia) of the Companies (Accounts) Rules, 2014, the Board opines that the Independent directors so appointed/re-appointed hold highest standards of integrity and possess necessary expertise and experience.

DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION (12) OF SECTION 143 OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT

No frauds were reported by the Companys Statutory / Cost / Internal / Secretarial Auditors during the year under review. DECLARATION BY INDEPENDENT DIRECTORS

All Independent Directors have submitted their disclosures to the Board that they fulfill all the requirements as stipulated in Section 149(6) of the Companies Act, 2013 read with SEBI Listing Regulations so as to qualify themselves to be appointed as Independent Directors under the provisions of the Companies Act, 2013 and SEBI Listing Regulations.

COMPANYS POLICY RELATING TO DIRECTORS APPOINTMENT, PAYMENT OF REMUNERATION AND DISCHARGE OF THEIR DUTIES

In accordance with the provision of Section 178 of the Companies Act, 2013, the Board has constituted Nomination and Remuneration Committee (NRC). The Board on recommendation of NRC had approved a policy seffing out the criteria for determining qualifications, positive attributes, independence of Directors and other matters provided under Section 178(3) of the Act. The salient features/ changes in the policy are attached herewith as "Annexure-M". For viewing the complete policy, you may kindly visit the following web- address of the Company: www.mrcagro.com

AUDITORS

STATUTORY AUDITORS

Pursuant to the provisions of section 139, of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014, M/s. Choudhary Choudhary & Co. Chartered Accountants, bearing Registration No.002910C, hold office up to the conclusion of the Annual General meeting to be held in the year 2025. The Company has received a certificate from the said auditors that they are eligible to hold office as the Auditors of the company.

SECRETARIAL AUDITORS

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014, the Company has appointed Ms. Reena Modi (Mem No.-25346) to undertake the Secretarial Audit of the Company. The Secretarial Audit Report is annexed herewith as "Annexure-III" and forms an integral part of this report.

EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS MADE BY THE STATUTORY AUDITORS, COST AUDITORS AND SECRETARIAL AUDITOR IN THEIR REPORTS

There are no qualifications, reservations or adverse remarks or disclaimers made by the Auditors in their report. The observations of the Statutory Auditors, when read together with the relevant notes to the accounts and accounting policies are self explanatory.

The Secretarial Audit report is annexed herewith as "Annexure-III". The observation made by the Secretarial Auditors in their report for the financial year ended 31st March, 2025 read with the explanatory notes therein are self explanatory, and therefore do not call for any further explanation or comments.

The Cost audit of the Company has not been conducted for the financial year 2024-25 as provisions of Section 148 of the Companies Act, 2013 are not applicable on the Company.

MAINTENANCE OF COST RECORDS

Maintenance of cost records as specified under Section 148(1) of the Act, is not required by the Company and accordingly such accounts and records are not made and maintained by the Company.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS UNDER SECTION 186

During the year under review, the Company has not given any loans or guarantees or made investments under Section 186 of the Companies Act, 2013.

All related party transactions that were entered into during the financial year ended March 31, 2025 were on an arms length basis and were in the ordinary course of business. Therefore, the provisions of Section 188 of the Companies Act, 2013 were not attracted. Further, there are no materially significant related party transactions during the year under review made by the Company with Promoters, Directors, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the Company at large. Thus, disclosure in Form AOC-2 is not required.

STATE OF THE COMPANYS AFFAIRS AND FUTURE OUTLOOK

The Company is engaged in the business of Trading and Manufacture of Agricultural goods. The Company is being optimistic about its future activities and aims higher profits with increased revenue in the years to come.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY BETWEEN THE END OF THE FINANCIAL YEAR AND THE DATE OF THIS REPORT

The company held an Extra-Ordinary General meeting on 28th June, 2025 to issue 1,08,40,007 Equity shares at INR 19.5 per share out of which 21,97,910 shares are for cash and 86,42,097 shares are for consideration other than cash.

There were no other material changes and commitments affecting the financial position of the company.

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

The particulars as required under the provisions of Section 134(3) (m) of the Companies Act, 2013 read with the Rule 8 of the Companies (Account) Rules, 2014 in respect of Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo etc are furnished below:

(A) Conservation of energy: Not Applicable

Steps taken or impact on conservation of energy	NA
Steps taken by the Company for utilizing alternate sources of energy	NA
Capital Investment in energy conservation equipments	NA

(B)Technology Absorption: Not Applicable

Efforts made towards technology absorption	NA
Benefits derived like product improvement, cost reduction, product development or import substitution	NA
In case of imported technology (imported during the last three years reckoned from the beginning of the financial year):
1.) Details of technology imported	NA
2.) Year of import	NA
3.) Whether technology has been fully absorbed	NA
4.) If not fully absorbed, areas where absorption has not taken place, and the reasons thereof	NA
Expenditure incurred in Research and Development	NA

During the year under review, the Company has neither earned nor used any foreign exchange.

DISCLOSURE FOR DEVELOPMENT AND IMPLEMENTATION OF THE RISK MANAGEMENT POLICY

Risks are events, situations or circumstances which may lead to negative consequences on the Companys business. Risk management is a structural approach to manage uncertainty. A formal approach to Risk Management is being adopted by the Company and key risk will now be managed within unitary framework. The Risk Management process in our business, operations, over the period of time will become embedded into the Companys business systems processes, such that our responses to risks remain current and dynamic.

DISCLOSURES RELATING TO CORPORATE SOCIAL RESPONSIBILTY

The provisions of Section 135 of the Companies Act, 2013 are not applicable to the Company for the year under review. ANNUAL EVALUATION OF PEFORMANCE OF THE BOARD

During the year, in terms of the requirements of the Companies Act, 2013, the Board carried out the evaluation of the Board as a whole, Board Committees and Directors. The evaluation process focused on various aspects of the functioning of the Board and Committees such as composition of the Board and Committees, experience and competencies, performance of specific duties and obligations etc. A separate exercise was carried out to evaluate the performance of individual Directors on parameters such as attendance, contribution and independent judgement.

Based on the outcome of the evaluation, the Board and Committees have agreed on various actions to further improve the effectiveness and functioning of the Board and Committees.

REPORT ON THE HIGHLIGHTS OF PERFORMANCE OF SUBSIDIARIES, ASSOCIATES AND JOINT VENTURE COMPANIES AND THEIR CONTRIBUTION TO THE OVERALL PERFORMANCE OF THE COMPANY DURING THE PERIOD UNDER REVIEW

During the year under the review, the Company does not have any Associate, Subsidiary or a Joint Venture.

CHANGE IN NATURE OF BUSINESS DURING THE YEAR

During the year under the review, there were no changes in the nature of business of the Company.

DEPOSITS

The Company has not accepted any deposits during the year under review.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS

No orders have been passed by any Regulator or Court or Tribunal which can have impact on the going concern status and the Companys operations in future.

INTERNAL FINANCIAL CONTROL SYSTEM

The Company has in place adequate systems of internal financial control commensurate with its size and nature of operations. The system of internal controls ensures that all activities are monitored and controlled against any unauthorized use or disposition of assets and that the transactions are authorized and reported correctly.

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

The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at Workplace (Prevention, Prohibition and 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 off during the year 2024-25:

• No. of complaints received : Nil

• No. of complaints disposed off : Nil

The Company has established Whistle Blower Policy for Directors and employees to report genuine concerns, to deal with instances of fraud and mismanagement, if any, and to ensure a clean and transparent environment for conducting business and also ensures adequate safeguards against victimization of persons who use such mechanism.

The Company is committed to adhere to the highest standards of ethical, moral and legal conduct of business operations.

PARTICULARS OF EMPLOYEES

The company does not have employees to disclose the details required to be mentioned under Section 197 of the Act read with rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

CORPORATE GOVERNANCE

As per Regulation 15 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, para C of Schedule V relating to Corporate Governance Report, the company has filed necessary compliance in time with BSE and has also made sure of proper composition of Board and Committees. The Board and its committees was also compliant with the necessary provisions as may be applicable to them.

MANAGEMENT DISCUSSION AND ANALYSIS

In terms of the Regulation 34 read with Schedule V of SEBI (LODR) Regulations, 2015, Management Discussion and Analysis is set out in the Annual Report and attached.

SECRETARIAL STANDARDS:

During the year under review, the Company has complied with the applicable Secretarial Standards.

DETAILS OF APPLICATION / ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016:

Neither any application was made nor any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the financial year.

DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF:

As Company has not done any one time settlement during the year under review hence no disclosure is required. ACKNOWLEDGEMENTS

The Directors would like to express their sincere appreciation for the assistance and co-operation received from the financial institutions, banks, Government authorities, customers, vendors and members during the year under review.

FOR MRC AGROTECH LIMITED

Sd/-

Ashok Kumar Singh (Chairman, Board of Directors)

Registered Office Address:

Block No 404 Sagar Tech Plaza Sakinaka, Andheri Kurla Road, Mumbai, Maharashtra, India, 400072 Tel: 022-40156765 / 22031639

Date: 30.08.2025 Place: Mumbai