Mukta Agriculture Ltd Directors Report

To,

The Members,

MUKTA AGRICULTURE LIMITED

Your Directors are pleased to present the 15^th Annual Report along with the Audited Accounts for the Financial Year ended 31st March, 2026.

1. FINANCIAL PERFORMANCE OF THE COMPANY

		(Rs. In Lakhs)
Particulars	Year ended March 31, 2026	Year ended March 31, 2025
Profit/(Loss) before interest, depreciation, tax and Extra Ordinary Items	26.551	(16.776)
Less: Exceptional Items	-	-
Less: Depreciation/amortization	-	-
Profit/(Loss) before interest, tax and Extra Ordinary Items	26.551	(16.776)
Less: Finance Costs	-	0.04
Profit/(Loss) before tax and Extra Ordinary Items	26.551	(16.776)
Less: Provision for taxes on income	-	-
--Current tax	-	-
--Deferred tax liability / (asset)	-	-
--MAT Credit Entitlement	-	(1.028)
Profit/(Loss) before Extra-Ordinary Items	26.551	(15.747)
Extra Ordinary Items (Net of Tax)	-	-
Profit/ (Loss) for the year	26.551	(15.747)
Other Comprehensive Income	(10.311)	21.758
Total Comprehensive Income for the year	16.241	6.011

2. STATE OF COMPANYS AFFAIRS

During the financial year under review, the Company continued to focus on strengthening its financial position and improving operational efficiency amidst challenging market conditions. The Company remained focused on prudent cost management and optimisation of its available resources.

The Company recorded a profit before tax of Rs. 26.551 lakhs during the financial year ended 31st March, 2026, as compared to a loss before tax of Rs. 16.776 lakhs in the previous financial year. After considering the applicable tax adjustments, the Company recorded a net profit of Rs. 26.551 lakhs for the financial year ended 31st March, 2026, as against a net loss of Rs. 15.747 lakhs in the previous financial year.

The improvement in the financial performance during the year reflects the Companys continued efforts towards cost management, efficient utilisation of resources and strengthening of its overall financial performance. The Management remains focused on sustaining the improvement in performance and pursuing opportunities for the Companys longterm growth.

3. DIVIDEND & RESERVES

Your Directors, after considering the overall financial position of the Company, have decided to retain the profits generated during the year under review to strengthen the financial base of the Company and to support its future business operations. Accordingly, the Board of Directors has not recommended any dividend for the financial year ended 31st March, 2026.

4. SHARE CAPITAL

There is no change in the authorised, issued, subscribed and paid-up share capital during the financial year under review:

The paid up Equity Share Capital as on 31st March, 2026 is Rs. 21,68,17,710/- (Rupees Twenty-One Crore Sixty- Eight Lakhs Seventeen Thousand Seven Hundred and Ten Only) divided into 2,16,81,771 (Two Crores Sixteen Lakhs Eighty- one Thousands Seven Hundred and Seventy-One) Equity Shares of the face value of Rs. 10/- each.

Further, the Company has not issued any shares with or without differential voting rights during the year under review. It has neither granted any employee stock options nor issued any Sweat Equity Shares to its Directors or employees and does not have any scheme to fund its employees to purchase the shares of the Company. As on 31st March, 2026, none of the Directors of the Company hold any instruments convertible into equity shares of the Company. The Company has also not bought back any of its securities, nor issued any Bonus Shares or Stock Option Schemes to its employees during the year under review.

5. DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)

Director retires by rotation:

Mr. Mohit Khadaria, Managing Director retires by rotation at the forthcoming Annual General Meeting (AGM) and being eligible, offers himself for re-appointment. The resolution seeking approval of the Members for his reappointment has been incorporated in the Notice convening the AGM of the Company along with brief details about him.

Appointment and cessation of Directors during the year:

During the year under review, there were no changes in the composition of Board of Directors of the Company: Appointment of Directors at ensuing AGM:

The Board, based on the recommendation of the Nomination and Remuneration Committee, has proposed the appointment of Mr. Nikhil Kumar Rungta (DIN: 08789354) as an Independent Director of the Company for a term of 5 (five) consecutive years with effect from 29th September, 2026 to 28th September, 2031, subject to the approval of the Members at the ensuing Annual General Meeting. The proposed appointment is intended to further strengthen the Board by bringing additional expertise, experience and independent perspective to its deliberations and to support the Companys governance, business objectives and long-term growth.

Mr. Nikhil Kumar Rungta has submitted a declaration confirming that he meets the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 and the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and that he is eligible for appointment as an Independent Director of the Company, not be liable to retire by rotation.

The requisite details of Mr. Nikhil Kumar Rungta, including his profile, expertise, directorships and other disclosures as required under the applicable provisions of the Companies Act, 2013, SEBI Listing Regulations and Secretarial Standard-2, are provided in the Notice convening the ensuing Annual General Meeting.

The Board recommends the appointment of Mr. Nikhil Kumar Rungta as an Independent Director for approval of the Members.

Declaration by Independent Directors:

In terms of the provisions of sub-section (6) of Section 149 of the Act and Regulation 16 of SEBI Listing Regulations including amendments thereof, the Company has, inter alia, received the following declarations from all the Independent Directors confirming that:

• they meet the criteria of independence as prescribed under the provisions of the Act, read with the Rules made thereunder and Listing Regulations. There has been no change in the circumstances affecting their status as Independent Directors of the Company;

• they have complied with the Code for Independent Directors prescribed under Schedule IV to the Act; and

• they have registered themselves with the Independent Directors Database maintained by the Indian Institute of Corporate Affairs.

In the opinion of the Board, all Independent Directors possess requisite qualifications, experience, expertise and hold high standards of integrity required to discharge their duties with an objective independent judgment and without any external influence. List of key skills, expertise and core competencies of the Board, including the Independent Directors, forms a part of the Corporate Governance Report of this Integrated Annual Report.

Familiarization Program:

In terms of Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, at the time of appointing an Independent Director, a formal letter of appointment is given to them, which, inter alia, explains the roles, functions, duties, and responsibilities expected of them as a Director of the Company. The Director is also thoroughly briefed on the compliances required under the Act, the SEBI Listing Regulations, and other statutes. The Managing Director also have one to-one discussions with the newly appointed Director to familiarize them with the Companys operations. As per regulation 46(2) of SEBI Listing Regulations, 2015, the terms and conditions of appointment of independent directors and the details of familiarisation programme are available on the website of the Company under the web link: https://www.mukta-agriculture.com/investors.html.

Key Managerial Personnel:

During the financial year 2025-26, Mrs Ankita Soni (Membership No. A52911) was appointed as the Company Secretary and Compliance Officer of the Company with effect from 17th September, 2025, to fill the vacancy arising from the resignation of Mr. Aashish Garg, (Membership No. A19991).

Accordingly, as on 31st March, 2026, Mrs Ankita Soni (Membership No. A52911) is the Company Secretary and Compliance Officer of the Company.

The Key Managerial Personnel (“KMP”) of the Company as on 31st March, 2026, in terms of Section 203 of the Companies Act, 2013 and applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, are as follows:

Sr. No. Name	Designation
1 Mr. Mohit Khadaria	Managing Director
2 Mr. Rakesh Sahewal	Chief Financial Officer
3 Mrs Ankita Soni	Company Secretary & Compliance Officer

6. DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 134(5) of the Act the Board of Directors, to the best of their knowledge and ability, confirm that:

a) In the preparation of the annual accounts for the year ended 31st March, 2026, the applicable Accounting Standards had been followed and there is no material departures from the same;

b) They 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 of the Company for that period;

c) They have taken proper and sufficient care for the maintenanceof adequate accounting records in accordance with theprovisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) They have prepared the annual accounts for the financial year ended 31st March, 2026 on a going concern basis;

e) They have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

f) They have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

7. MEETINGS OF THE BOARD

During the financial year 2025-26, 6 (Six) meetings of the Board of Directors of the Company were held for consideration and approval of various agenda items. The agenda and notes on agenda for the meetings were circulated to the Directors within the prescribed time and in accordance with the applicable provisions.

The details of the Board Meetings held during the financial year under review, including the dates of the meetings and the attendance of the Directors thereat, are provided in the Corporate Governance Report, which forms an integral part of this Annual Report.

The intervening gap between any two consecutive meetings of the Board was within the period prescribed under the Companies Act, 2013, the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, and Secretarial Standard-1 (SS-1) on Meetings of the Board of Directors issued by the Institute of Company Secretaries of India.

8. COMMITTEES OF THE BOARD

Pursuant to requirement under Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors has constituted various committees of Board such as:

a) Audit Committee;

b) Nomination & Remuneration Committee; and

c) Stakeholders Relationship Committee.

The Committees of the Board have been constituted with defined roles, responsibilities and terms of reference in accordance with the applicable provisions of the Companies Act, 2013 and the SEBI Listing Regulations. The Committees assist the Board in discharging its responsibilities and provide focused oversight in their respective areas of operation.

The details relating to the composition of the aforesaid Committees, their terms of reference, powers, meetings held during the financial year, attendance of the members and other relevant particulars are provided in the Corporate Governance Report, which forms an integral part of this Annual Report.

The Board further confirms that all recommendations made by the Committees of the Board during the financial year under review, which were mandatorily required to be considered by the Board, were duly considered and accepted by the Board.

9. DETAILS OF SUBSIDIARY/JOINT VENTURES/ ASSOCIATE COMPANIES

Your Company does not have any subsidiary, Joint Ventures and Associate Company for the year ended 31st March, 2026.

10. PARTICULARS OF EMPLOYEES

The information as per the provisions of Section 197(12) of the Companies Act read with Rule 5(2) and 5(3) of Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 forms part of this Report. However, as per first proviso to Section 136(1) of the Act and second proviso of Rule 5(2) of the Rules, the Report and Financial Statements are being sent to the Members of the Company excluding the statement of particulars of employees under Rule 5(2) and 5(3) of the Rules. Any Member interested in obtaining a copy of the said statement may write to the Company Secretary at the Registered Office of the Company or on the email address of the Company i.e. mukta.agriculture@gmail.com

The statement of Disclosure of Remuneration under Section 197(12) of the Act read with the Rule 5 (1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (“Rules”) is mentioned below.

Statement of Disclosure of Remuneration under Section 197 of Companies Act, 2013 and Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014:

1. The Ratio of the remuneration of each director to the median remuneration of the employees of the company for the Financial Year 2025-26: Not applicable as your Company is not providing any remuneration to the Directors of the company.

2. Percentage increase in remuneration of each Director, CFO and Company secretary :

During the year under review, no Sitting fees or remuneration was paid to the Directors & percentage decrease in the salary of CFO is 7.55%. During the financial year 2025-26, Mr. Ashish Garg ceased to be the Company Secretary of the Company and Ms. Ankita Soni was appointed as the Company Secretary. Accordingly, the percentage increase in remuneration is not ascertainabie / not applicable, as there is no comparable remuneration for the respective preceding period.

3. The percentage increase in the median remuneration of employees in the Financial Year 2025-26: During the Financial Year under review, the median remuneration is Rs 264603 p.a. and the percentage decrease in Median Remuneration of employees is (0.5)%.

4. During the year, there were 5 (Five) number of permanent employees are on roll of the company, however as on 31st March, 2026.

5. Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration:

During the financial year 2025-26, the average percentage increase in the salaries of employees other than managerial personnel, based on employees for whom comparable remuneration is available for both the financial years, was 2.28%. During the same period, the remuneration of the managerial personnel decreased by 7.55%. Accordingly, there was no increase in managerial remuneration during the year under review and, therefore, no exceptional circumstances for increase in managerial remuneration arise.

6. It is hereby affirmed that the remuneration paid during the year is as per the Remuneration Policy ofthe Company.

11. SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION. PROHIBITION AND REDRESSAL) ACT, 2013

Your Company has in place a formal policy for prevention of sexual harassment of its women employees in line with “The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 is not applicable on your Company and there were no complaint about sexual harassment during the year under review.

12. CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION

Since the Company is neither engaged in any manufacturing activity nor the Company has any manufacturing unit, therefore there prescribed particulars with regards to compliance of rules relating to conservation of Energy and Technology absorption pursuant to Section 134 (3) (m) of the Companies Act, 2013, read with Rule - 8 (3) of the Companies (Accounts) Rules, 2014 are not applicable on your Company.

13. FOREIGN EXCHANGE EARNINGS AND OUT-GO s

During the period under review there were no foreign exchange earnings or out flow.

14. DEPOSITS

During the year under review, your Company has not invited or accepted any deposits from the public in terms of Chapter V of the Companies Act, 2013.

15. PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS

The details of loans and Investments covered under section 186 of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 for the financial year 2025-26 are given in the Notes on financial statement referred to in the Auditors Report.

16. RELATED PARTY TRANSACTIONS

During the year under review, the Company entered into transactions with its related parties primarily in the nature of inter-corporate loans/borrowings and payment of managerial remuneration.

The transactions relating to loans/borrowings do not fall within the specified contracts or arrangements covered under Section 188 of the Companies Act, 2013. Accordingly, such transactions are not required to be reported in Form AOC-2 under Section 134(3)(h) of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014.The Company has complied with the applicable provisions of the Companies Act, 2013 in respect of the related party transactions entered into during the year.

Further, in terms of Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the said loans/borrowings constitute related party transactions as they involve transfer of resources between related parties, irrespective of price. All such transactions were approved by the Audit Committee, reviewed by the Board, entered into in the ordinary course of business and on an arms length basis, and disclosed in the quarterly submissions made to the Stock Exchange(s) pursuant to Regulation 23(9) of the Listing Regulations.

The Company has also adopted a Policy on Related Party Transactions, which is available on its website at: https: //www. mukta-agriculture.com/pdf/PolicyOnRelatedPartyTransaction.pdf.

The particulars of related party transactions, as required under the applicable accounting standards, are set out in the Notes to the Financial Statements forming part of this Annual Report.

17. STATUTORY AUDITORS & AUDITORS REPORT

M/s. Ashok Shetty & Co., Chartered Accountants (Firm Registration No. 117134W), were appointed as the Statutory Auditors of the Company, upon completion of the term of M/s. Sunil Vankawala & Associates, Chartered Accountants (Firm Registration No. 110616W), at the conclusion of the 14th Annual General Meeting (“AGM”) held in 2025. M/s. Ashok Shetty & Co. were appointed for a term of five consecutive years, from the conclusion of the 14th AGM until the conclusion of the 19th AGM to be held in the year 2030, pursuant to the provisions of Section 139 of the Companies Act, 2013 (“the Act”) and the rules framed thereunder.

The appointment of M/s. Ashok Shetty & Co. was made based on the recommendation of the Audit Committee and approval of the Board of Directors and the shareholders of the Company.

The Company has received the written consent from M/s. Ashok Shetty & Co. and a certificate confirming that they satisfy the eligibility criteria prescribed under Section 141 of the Act and that their appointment is in accordance with the applicable provisions of the Act and the rules framed thereunder. Further, M/s. Ashok Shetty & Co. have confirmed that they hold a valid Peer Review Certificate issued by the Peer Review Board of the Institute of Chartered Accountants of India (“ICAI”).

The Auditors Report for the financial year ended 31st March, 2026 forms part of the Annual Report. The Auditors Report does not contain any qualification, reservation, adverse remark or disclaimer.

18. STATUTORY AUDITORS REPORT

There are no qualifications, reservations or adverse remarks by the Statutory Auditors, in their report for the Financial Year ended 31^st March , 2026. The Notes on financial statements referred to in the Auditors Report are selfexplanatory.

19. SECRETARIAL AUDITORS & AUDITORS REPORT

Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, read with Regulation 24A of the Listing Regulations, the Company had appointed M/s. Ritika Agarwal & Associates, Practicing Company Secretary as Secretarial Auditors to undertake the Secretarial Audit of the Company for the financial year 2025-26. The Secretarial Audit Report is annexed herewith as ANNEXURE III, which forms an integral part of this report.

The Secretarial Audit Report does not contain any qualification, reservation, adverse remark or disclaimer, except for the observations/remarks as stated therein. The observations made by the Secretarial Auditor and the managements response thereto are as under:

Sr. No. Observation of the Secretarial Auditor

Managements Remark / Response

1. There was a delay of 2 days in filing the Shareholding Pattern for the quarter ended 30th September, 2025. The Company subsequently filed the same with the Stock Exchange(s) on 24th October, 2025 and paid the fine levied by BSE Limited for the said delay.

The Management acknowledges the delay in filing the Shareholding Pattern for the quarter ended 30th September, 2025. The delay was subsequently rectified and the requisite filing was made with the Stock Exchange(s). The fine levied by BSE Limited in this regard has also been duly paid. The Company has taken appropriate measures to ensure timely compliance with the applicable filing requirements going forward.

The Secretarial Auditor has further reported that the appointment of Mr. Manaldal Agarwal as an Independent Director was initially approved by an Ordinary Resolution at the AGM held on September 29, 2023. Thematter was subsequently ratified by the shareholde rs through a Special Resolution at the AGM held on September 30, 2025. Accordingly, the matter stood rectified during the year under review, and appropriate measures have been implemented to ensure compliance going forward.

Further, in accordance with Regulation 24A of the SEBI Listing Regulations, the Annual Secretarial Compliance Report for the financial year ended 31st March, 2026, issued by M/s. Ritika Agrawal & Associates, Practicing Company Secretaries, has been submitted to the Stock Exchange(s) within the prescribed time.

20. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT

The Statutory Auditors, Internal Auditor or Secretarial Auditor of the Company have not reported any frauds to the Audit Committee or to the Board of Directors under Section 143(12) of the Companies Act, 2013 including rules made thereunder.

21. CORPORATE GOVERNANCE

In compliance with the Regulation 34 read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a detailed report on Corporate Governance forms an integral part of this Annual Report. A Certificate from the statutory auditors, M/s. Sunil Vankawala and Associates, confirming compliance of the conditions of Corporate Governance as stipulated under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is appended to the Corporate Governance Report. A Certificate of the CEO/MD and CFO of the Company in terms of Regulation 17(8) of the Listing Regulations is forming part of Corporate Governance Report as Annexure I.

A Certificate of the MD and CFO of the Company in terms of Regulation 17(8) of the Listing Regulations is also forming part of Corporate Governance Report as ANNEXURE V.

22. ANNUAL RETURN

Pursuant to the provisions of Section 92(3) and 134(3)(a) of the Companies Act, 2013 and amendments thereof and in compliance of the Companies (Amendment) Act, 2017, effective August 28, 2020, the draft Annual Return for the financial year 2025-26 in prescribed form MGT-7 is placed on the website of the Company at the following link: https://www.mukta-agriculture.com/investors.html.

This Annual Return is subject to such changes / alterations / modifications as may be required to carry out subsequent to the adoption of the Directors Report by the Shareholders at the 15^th Annual General Meeting.

23. CORPORATE SOCIAL RESPONSIBILITIES INITIATIVES

The provisions of Section 135 of the Companies Act, 2013, relating to the constitution of a CSR Committee, formulation of a CSR Policy, and expenditure on CSR activities, are not applicable to the Company as it does not meet the prescribed financial thresholds under the Act.

24. CHANGE IN NATURE OF BUSINESS

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

25. COMPLIANCE WITH SECRETARIAL STANDARDS

The Company has complied with the applicable mandatory Secretarial Standards issued by the Institute of Company Secretaries of India.

26. INTERNAL CONTROL SYSTEMS

The Company has adequate and robust Internal Control System, commensurate with the size, scale and complexity of its operation. The Internal Control System is placed to safeguard and protect from loss, unauthorized use or disposition of its assets. All the transactions are properly authorized, recorded and reported to the Management. Internal Audit is carried out in a programmed way and follow up actions were taken for all audit observations. Your Companys Statutory Auditors have, in their report, confirmed the adequacy of the internal control procedures.

27. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

As required under Regulation 34 (3) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, a detailed Management Discussion and Analysis Report have been given separately as “Annexure II” forming part of the Annual Report.

28. VIGIL MECHANISM / WHISTLE BLOWER POLICY

Your Company has formed a Whistle Blower Policy for establishing a vigil mechanism for directors and employees to report genuine concerns regarding unethical behavior and mismanagement, if any. The said mechanism also provides for strict confidentiality, adequate safeguards against victimization of persons who use such mechanism and makes provision for direct access to the chairperson of the Audit Committee in appropriate cases. No personnel have been denied access to the Audit Committeepertaining to the Whistle Blower Policy.

The said Whistle Blower Policy has been disseminated on the Companys website at https://www.mukta- agriculture.com/investors.html.

29. PERFORMANCE EVALUATION OF THE BOARD

Pursuant to the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), the Company has put in place a framework for performance evaluation of the Board of Directors, its Committees and individual Directors, including Independent Directors. The framework provides for evaluation based on, inter alia, the roles and responsibilities of the Board and its Committees, contribution and effectiveness of individual Directors, participation and preparedness for meetings, quality of deliberations and the overall effectiveness of the Board and its Committees. During the financial year under review, the annual performance evaluation of the Board, its Committees and individual Directors was carried out in accordance with the evaluation framework adopted by the Company. The evaluation was undertaken based on the prescribed criteria and parameters, and the process and outcome of the evaluation are detailed in the Corporate Governance Report forming part of this Annual Report.

The Independent Directors also met separately during the financial year under review, without the presence of NonIndependent Directors and members of the management, and reviewed, inter alia, the performance of the NonIndependent Directors and the Board as a whole, taking into account the views of Executive Directors and NonExecutive Directors, wherever applicable.

The Nomination and Remuneration Committee carried out the performance evaluation of individual Directors in accordance with the prescribed criteria. The performance evaluation of the Independent Directors was carried out by the entire Board, excluding the Director being evaluated.

The Board is satisfied with the outcome of the performance evaluation process and the performance of the Board, its Committees and individual Directors during the financial year under review. The evaluation process provided an opportunity to identify areas for improvement and to further enhance the effectiveness of the Board and its Committees.

30. RISK MANAGEMENT

The Board of Directors of the Company has made a Risk Management Policy which require them to aware the shareholders of the Company regarding development and implementation of risk management plan for the Company, including identification therein of elements of risks, if any, which in their opinion might threaten the existence of the Company, the management plan to mitigate the same and ensuring its effectiveness. The Audit Committee has additional oversight in the area of financial risks and controls. The details of the Policy have been posted on the Companys website www.mukta-agriculture.com.

31. DIRECTORS’ APPOINTMENT AND REMUNERATION POLICY

The Board of Directors has framed a Policy which lays down a framework in relation to the remuneration of Directors, KMP and other employees of the Company.

The said Policy is available on the Companys website http://www.mukta- agriculture.com/pdfs/NominationRemunerationPolicy.pdf.

32. MATERIAL CHANGES AND COMMITMENTS

There are no material changes and commitments, affecting the financial position of the Company, between the end of the financial year of the Company i.e. 31st March, 2026 and the date of this Report.

33. COST RECORDS AND COST AUDIT

In accordance with Section 148(1) of the Companies Act, 2013, the provision relating to maintenance of cost records and requirement of cost audit are not applicable to the Company during the year under review due to business activities carried out by the Company.

34. SIGNIFICANT AND MATERIAL ORDERS PASSED BY REGULATORS /COURTS /TRIBUNALS

During the year under review, no significant or material orders passed by the Regulators or Courts or Tribunals which impacts the going concern status of the Company and its future operations.

35. INSIDER TRADING

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company. The Code requires pre- clearance for dealing in the Companys shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the Trading Window is closed. The Board is responsible for implementation of the Code. Further the Directors and all the designated persons have confirmed that they have adhered to the code.

36. DETAILS OF RECOMMENDATIONS OF AUDIT COMMITTEE & BOARD’S CONSIDERATION UPON IT:

The Audit Committee generally makes certain recommendation to the Board of Directors of the Company during their meetings held to consider the financial results and such other matters placed before the Audit Committee as per the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 from time to time. During the year the Board has considered all the recommendations made by the Audit Committee and has carried on the recommendations suggested by the Committee to its satisfaction. Thus, there are no recommendations unaccepted by the Board during the year under review.

37. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONGWITH THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR:

During the year under review, there was no application made before National Company Law Tribunal for initiation of insolvency proceeding against the Company nor any proceeding were pending under the insolvency and bankruptcy code, 2016 (31 of 2016).

38. THE 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:

During the year, there are no such instances and no settlements have been done with banks or financial institutions.

39. GENERAL:

Your Directors state that no disclosure or reporting is required in respect of the following items as there were no transactions on these items during the year under review:

i) The Company does not have any scheme or provision of money for the purchase of its own shares by employees/ Directors or by trustees for the benefit of employees/ Directors;

ii) it has not raised any funds through qualified institutions placement as per Regulation 32(7A) of the SEBI Listing Regulations;

40. ACKNOWLEDGEMENT

Your Directors express deep sense of appreciation to the members, investors, bankers, service providers, customers, and other business constituents for their continued faith, abundant assistance and cooperation extended to the Company.Your Directors would like to make a special mention of the support extended by the various Departments of Government of India, the State Governments, particularly, the Tax Authorities, the Ministry of Commerce, Ministry of Corporate Affairs, Securities and Exchange Board of India and others and look forward to their continued support in all future endeavors.

Your Directors also sincerely appreciate the high degree of professionalism, commitment and dedication displayed by employees at all levels thereby contributing largely to the growthand success of the Company.

	By and on behalf of the Board
	For Mukta Agriculture Limited
	Krishan Khadaria	Mohit Khadaria
	Director	Managing Director
	DIN:00219096	DIN:05142395
Registered Office:
401/A, Pearl Arcade, Opp. P. K. Jewellers, Dawood Baug Lane, Off J. P. Road,
Andheri (West), Mumbai - 400 058
Place: Mumbai
Dated: 26th August, 2026