Netlink Solutions India Ltd Directors Report

Dear Shareholders,

The Board of Directors hereby submit the 41st Annual Report of the business and operations of Company NETLINK SOLUTIONS (INDIA) LIMITED ("the Company"), along with the audited financial statements, for the financial year ended 31st March, 2026.

1. FINANCIAL HIGHLIGHTS:

Particulars	Standalone
	Year ended on March 31, 2026	Year ended on March 31, 2025
Revenue From Operations (including other operating income)	4.81	24.60
Other Income	341.00	911.35
Total Income	345.81	935.94
Operating expenditure before Finance cost, depreciation and amortization	136.06	225.12
Earnings before Finance cost, depreciation and amortization (EBITDA)	209.75	710.82
Less: Depreciation & Amortization	18.87	20.12
Less: Finance Cost	-	-
Profit Before Tax	190.88	690.70
Less: Current Tax	101.04	164.37
Less: Short/(Excess) provision for Tax	(44.88)	0.10
Less: Deferred tax Liability (Asset)	(68.21)	(9.09)
Profit after Tax	202.93	535.32

2. STATE OF COMPANYS AFFAIR AND PERFORMANCE REVIEW:

During the year under review, the Company recorded a total income of Rs. 345.81 Lakhs. The Company reported a Profit After Tax (PAT) of Rs. 202.93 Lakhs.

The Company continues to focus on strengthening its business operations and is exploring various strategic avenues and opportunities to achieve sustainable growth, operational efficiency and long-term profitability.

3. DIVIDEND:

In order to conserve its resources for future growth, the Directors do not recommend any dividend for the year under review.

4. TRANSFER TO GENERAL RESERVE:

The Board has decided not to transfer any amount to the General Reserve for the financial year under review, as no appropriations were required to be made during the Financial Year under review.

5. SHARE CAPITAL AND CHANGES THEREON:

Authorized Capital

As on March 31, 2026, the Authorized Share Capital of the Company stood at t10,00,00,000 (Rupees Ten Crores Only) divided into 1,00,00,000 Equity Shares of t10 each. There was no change in the Authorized Share Capital of the Company during the financial year under review.

Paid-Up Capital

As on March 31, 2026, the Paid-up Equity Share Capital of the Company stood at ^2,52,92,250 (Rupees Two Crores Fifty - Two Lakhs Ninety-Two Thousand Two Hundred Fifty Only) divided into 25,29,225 Equity Shares of ^10 each. During the financial year under review, there was no change in the issued, subscribed and paid-up share capital of the Company.

6. CHANGE IN NATURE OF BUSINESS:

During the year, the Company has not changed its business or object and continues to be in the same line of business as the main object of the Company.

The company expanded the object clause by addition of new object clause i.e. Tungsten based products, tungsten scrap, ammonium pera tungsten, tungsten trioxide WO3, COBALT metal powder, tungsten metal powder, tungsten carbide powder by passing special resolution in the extra ordinary general meeting held on 09.06.2026.

7. MATERIAL DEVLOPMENT DURING THE YEAR:

The Company did not witness any material developments during the financial year under review, other than those specifically disclosed elsewhere in this Report. There were no events, transactions or developments that materially affected the operations, performance or financial position of the Company during the year.

8. OPEN OFFER:

During the year under review, there was a change in the management and control of the Company pursuant to the open offer. In accordance with the applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, an Open Offer was made to the public shareholders of the Company. Consequent to the completion of the Open Offer and related transactions, the management and control of the Company underwent a change. The Board of Directors was reconstituted accordingly.

M/s Arix Capital Limited along with other members of the promoter group acquired the control of the Company. Since the control was acquired through open offer approved by SEBI, the company is not required to obtain the approval of BSE Limited for reclassification of old promoters in to the public category.

9. MATERIAL CHANGES AND COMMITMENT IF ANY AFTER THE DATE OF BALANCE SHEET:

During the period between the end of the financial year and the date of this Report, the following material changes and commitments affecting the financial position and affairs of the Company have occurred:

1. Reclassification of Promoter(s):

The Company has completed the process of reclassification of reclassification of two promoters of the Company, i.e. Minesh Vasantlal Modi and Ms. Rupa Minesh Modi in accordance with the applicable provisions of the Companies Act, 2013, SEBI regulations and other applicable laws, subject to the requisite approvals.

2. Disposal of Assets:

The members of the Company have approved the proposal for sale, lease or otherwise disposal of the assets of the Company pursuant to the provisions of Section 180(1)(a) of the Companies Act, 2013, and in accordance with applicable laws.

3. Alteration of Object Clause of Memorandum of Association:

The members of the Company have approved the resolution for alteration of the Object Clause of the Memorandum of Association of the Company by insertion of new additional object(s) to enable the Company to undertake, carry on and develop business activities relating to the manufacture, processing, production, trading, import, export, sale, purchase and dealing in tungsten and tungsten-based products, including tungsten scrap, ammonium paratungstate (APT), tungsten trioxide (WO3), cobalt metal powder, tungsten metal powder, tungsten carbide powder and other allied, ancillary and related products and materials.

The resolution was passed in the Extraordinary general meeting of the members of the Company held on 9th June 2024.

4. Shifting of Registered Office:

The members of the Company have approved the resolution for alteration of the Registered Office Clause of the Memorandum of Association for shifting the Registered Office of the Company from the State of Maharashtra to the State of Gujarat in their extra ordinary general meeting held on 9h June 2026 , subject to obtaining such approvals, permissions and compliances as may be required under the applicable provisions of the Companies Act, 2013 and the rules made thereunder.

The application for shifting of registered office of the Company is under process with the Regional Director, Western Region at Mumbai.

10. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES OF THE COMPANY:

The Company does not have any Subsidiary, Joint Venture or Associate Company. However, Jupiter Infomedia Limited, a BSE-listed company, is the Holding Company of the Company. The Holding Company has applied to BSE Limited for change of its name to "Arix Energix Limited", and the application is currently under process.

11. PUBLIC DEPOSIT:

The company has not accepted any deposits from the public. Hence, the directives issued by the Reserve Bank of India & the Provision of Section 73 to 76 of the Companies Act, 2013 or any other relevant provisions of the Act and the Rules there under are not applicable.

12. PARTICULARS OF LOANS, GUARANTEES, INVESTMENTS & SECURITY:

During the year under review, the Company has undertaken certain transactions covered under Section 186 of the Companies Act, 2013, including investments and loans. The details of such transactions are disclosed in the Notes to the Financial Statements forming part of this Annual Report.

13. ANNUAL RETURN:

Pursuant to Section 92(3) read with Section 134(3) (a) of the Act, the Annual Return as on March 31 ,2026 shall be placed on the Companys website on https://www.nsil.co.in/

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

The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there was no unpaid/unclaimed dividend lying with the Company.

As per Sections 124 and 125 of the Companies Act, 2013, the amount of unpaid or unclaimed dividend lying in unpaid dividend account for a period of seven (7) years from the date of its transfer to the unpaid dividend account and the underlying Equity Shares of such unpaid or unclaimed dividend, are required to be transferred to the Investor Education and Protection Fund ("IEPF") established by the Central Government. Accordingly, the unclaimed dividend in respect of the financial years 2003-04 to 2008-09 was transferred to the IEPF and the Company has also transferred 21,925 Equity shares into the IEPF Account on 29/05/2020 vide SRN R42014555. The eligible Members can claim their shares from the website of IEPF () for filing the claim for refund. http://www.iepf.gov.in

15. CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

All contracts/transactions executed by the Company during the financial year with related parties were on an arms length basis and in the ordinary course of business. The particulars of such material contracts or arrangements made with related parties in e-Form AOC-2 pursuant to Section 188 is furnished in Annexure -I and are attached to this report.

The Policy on Related Party Transactions as approved by the Board of Directors is available on the website of the Company at Policy on RPTs https://www.nsil.co.in/

16. SIGNIFICANT AND MATERIAL ORDERS:

During the financial year under review, no significant and material orders were passed by any regulator, court or tribunal impacting the going concern status of the Company or its future operations.

17. EMPLOYEE STOCK OPTION PLAN:

During the year under review, the company did not grant, allot, or issue any equity shares to its employees under the Employee Stock Option Plan (ESOP).

18. SEXUAL HARASSMENT OF WOMEN AT WORKPLACE:

The Company has zero tolerance towards sexual harassment at the workplace and towards this end, has adopted a policy in line with the provisions of sexual harassment of women at workplace (Prevention, Prohibition and Redressal) Act, 2013 and the rules made thereunder.

During the year 2025-26, there were no complaints filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

The Company has complied with the provisions relating to the constitution of Internal Committee (IC) under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 to redress complaints received regarding sexual harassment.

19. COMPLIANCE UNDER THE MATERNITY BENEFIT ACT, 1961

The provisions of the Maternity Benefit Act, 1961 and rules made thereunder are not applicable to the Company as the number of employees of the Company are less than 10.

However, the Company remains committed to fostering an inclusive, equitable and supportive workplace by promoting the welfare, health and well-being of women employees throughout their maternity period.

20. BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

• BOARD OF DIRECTORS COMPOSITION & CHANGE OF BOARD:

The table below gives the composition of the Board and the Directorships held by each of the Directors of the Company at the end of Financial Year 2025-26.

Name of Directors	Designation
Mrs. Kajal Gopal Baldha"	Whole-Time Director
Mr. Viren Sudhirbhai Bakraniya	Non-Executive Director
Mr. Kaushal Ameta$	Non-Executive - Independent Director
Mr. Manoj Ashok Pardhee*	Non-Executive - Independent Director
Mr. Pankaj Vrajlal Sodha#	Non-Executive - Independent Director

* Mr. Manoj Ashok Pardhee has resigned and Mr. Aanal Milankumar Satyawadi was appointed as Non-Executive - Independent Director from 23.04.2026

#Mr. Pankaj Vrajlal Sodha has resigned and Ms. Yesha Aagam Shah was appointed as Non-Executive - Independent Director from 23.04.2026 AMrs. Kajal Gopal Baldha has tendered her resignation from the position of Whole-Time Director w.ef. 18th August 2026.

$Mr. Dilipkumar Gajanand Nikhare has been appointed as Non-Executive - Independent Director w.e.f19.08.2026 on the resignation of Mr. Kaushal Ameta.

The composition of Board complies with the requirements of the Companies Act, 2013 ("Act"). Further, in pursuance of Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), the Company is exempted from the requirement of having composition of Board as per Regulation 17 of Listing Regulations.

Disclosure by Directors U/S 164(2):

The Directors on the Board have submitted notice of interest under Section 184(1) i.e. in Form MBP 1, intimation under Section 164(2) i.e. in Form DIR 8 and declaration as to compliance with the Code of Conduct of the Company.

Retirement by Rotation and subsequent re-appointment:

Mr. Viren Sudhirbhai Bakraniya (DIN: 10931691), Director of the company, is liable to retire by rotation at the ensuing Annual General Meeting, pursuant to Section 152 and other applicable provisions, if any, of the Companies Act, 2013, read with the Companies (Appointment and Qualification of Directors) Rules, 2014 (including any statutory modification(s) or re-enactment(s) thereof for the time being in force), and being eligible have offered herself for re-appointment.

The requisite resolution for his re-appointment is being placed before the shareholders of the Company for approval at the ensuing Annual General Meeting

The relevant details, as required under Regulation 36 (3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") and Secretarial Standard, of the person seeking re-appointment/ appointment as Director are also provided in Notes to the Notice convening the 41st Annual General Meeting.

• KEY MANAGERIAL PERSONNEL ["KMP"]:

Further, Pursuant to Section 203 of the Companies Act, 2013, the Key Managerial Personnel of the Company as at the end of Financial Year 2025-26 are:

Name of the KMPs	Designation
1 Mrs. Kajal Gopal Baldha	Whole-Time Director
2 Mrs. Kajal Gopal Baldha	Chief Financial Officer
3 Ms. Aarushi Lad	Company Secretary & Compliance Officer

Note:

> Mr. Bhanulal Bhagavanji Rank is appointed as Chief Financial Officer w.e.f. 19th August2026 in place of Mrs. Kajal Gopal Baldha who tendered her resignation from the position of Whole-Time Director & Chief Financial Officer w.e.f. 18th August 2026.

> Ms. Komal Bairathi was appoin ted as Company Secreta ry & Compliance Officer of the Company w.e.f. 02.04.2026 on the resigna tion of Ms. Aarushi Lad. Further, Ms. Vidushi Pagare has been appointed as the Company Secretary & Compliance Officer of the Company w.e.f. 19.08.2026 on the resignation of Ms. Komal Bairathi.

> Also, Mr. Gopalkumar Girdharbhai Ranparia is appointed as Managing Director w.ef. 19.08.2026.

21. Board Meetings and Annual General Meeting:

The Board met 9 times during the financial year. During the year under review the Board of Directors met 9 (nine) times on May 20, 2025, July 10, 2025, August 29, 2025, October 17, 2025, January 12, 2026, March 10, 2026, March 20, 2026, March 26,2026 and March 30, 2026. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013, Secretarial Standards on Board Meetings and SEBI Listing Regulations as amended from time to time.

The 40th Annual General Meeting (AGM) of the Company was held on September 29, 2025 through Video Conferencing /Other Audio-Visual Means.

22. PERFORMANCE EVALUATION OF THE BOARD:

The Board of Directors has carried out an annual evaluation of its own performance, Board committees and individual directors pursuant to the provisions of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 in the following manners;

The performance of the Board and its committee was evaluated by the Board, after seeking inputs from all the directors and committee members, on the basis of the criteria such as the Board composition and structure, effectiveness of Board processes, information and functioning etc.

The Board and the nomination and remuneration committee reviewed the performance of the individual directors on the basis of the criteria such as the contribution of the individual director to the

Board and Committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in Meetings, etc.

A separate meeting of the Independent Directors was held during the year under review to evaluate the performance of non-independent directors, performance of the Board as a whole and performance of the chairman, taking into account the views of executive directors and non-executive directors. Performance evaluation of Non-Executive Independent directors was done by the entire Board, excluding the independent director being evaluated.

23. DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 134(3)(c) of the Act, your Directors state that:

a. in the preparation of the annual accounts for the year ended March 31, 2026, the applicable Accounting Standards read had been followed and there are 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 as at March 31, 2026 and of the profit of the Company for year ended on that date;

c. they have 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 annual accounts have been prepared on a going concern basis;

e. 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; and

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

24. DECLARATION OF INDEPENDENT DIRECTORS

In terms of Section 149 of the Companies Act, 2013 and rules made there under, the Company has three Non-Executive Independent Directors in line with the act.

The Company has received necessary declaration from each Independent Director under Section 149 (7) of the Companies Act, 2013 that they meet the criteria of independence laid down in Section 149 (6) of the Act. Further, all the Independent Directors of the Company have registered in the Independent Director Data Bank.

25. MEETING OF INDEPENDENT DIRECTORS:

In Compliance with the provision of the Companies Act, 2013 SEBI Listing Regulations, the Independent Directors of your Company meet without the presence of the Executive Director or other NonIndependent Directors or Chief Financial Officer or any other Management Personnel.

During the year under review, the Independent Directors met on January 30, 2026. inter alia, to discuss:

i Reviewed the performance of Non-Independent directors and the Board as a whole;

ii Reviewed the performance of the Chairperson of the Company

iii Assessed the quality, quantity, and timeliness of flow of information between the Companys Management and the Board, which is necessary for the Board to perform their duties effectively and reasonably

The Independent Directors expressed their satisfaction with overall functioning and implementations of their suggestions.

26. FAMILIARISATION PROGRAMME OF INDEPENDENT DIRECTOR:

The Company has conducted familiarisation programmes for its Independent Directors covering their roles, rights, and responsibilities.

The Company ensures that Independent Directors (IDs) receive comprehensive orientation, including formal presentations on business operations, organizational structure, governance procedures, safety, health, and environmental policies.

The details of programmes for familiarisation of Independent Directors with the Company, their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, business model of the Company and related matters along with other details as required pursuant to the provisions of the SEBI Listing Regulations are available on the website of the Company at https://nsil.co.in/images/pdf/drafts/Independent Directors Familiarization Programs.pdf.

27. CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES:

All contracts/transactions executed by the Company during the financial year with related parties were on an arms length basis and in the ordinary course of business. The particulars of such material contracts or arrangements made with related parties in e-Form AOC-2 pursuant to Section 188 is furnished in Annexure -I and are attached to this report.

28. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

In accordance with regulation 34 of SEBI (Listing Obligations and Disclose Requirements) Regulations, 2015, the Management Discussion and Analysis Report forms part of this Report as Annexure - II.

29. AUDITORS AND AUDIT REPORT:

Statutory Auditors

M/s. Ladha Singhal and Associates (ICAI Firm Registration No. 120241W) were appointed as the Statutory Auditors of the Company to hold office from the conclusion of the 37th Annual General Meeting (AGM) held on September 29, 2022 until the conclusion of the ensuing 42nd AGM of the Company to be held in the year 2027.

Secretarial Auditor

Pursuant to Regulation 24A of the Listing Regulations read with provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, your Directors had appointed M/s. Malay Desai & Associates, Practicing Company Secretaries as Secretarial Auditors of the Company for a term of five (5) consecutive financial years commencing from April 1, 2025 till March 31, 2030.

In this regard, the Secretarial Audit Report submitted by the Secretarial Auditor is annexed as Annexure III.

Annual Secretarial Compliance Report

The Company has undertaken an audit for the FY 25-26 for all applicable compliances as per SEBI Regulations and Circulars / Guidelines issued thereunder. The Annual Secretarial Compliance Report duly signed by Mr. Malay Desai, proprietor of M/s. Malay Desai & Associates, Practicing Company Secretaries has been submitted to the Stock Exchanges.

Secretarial Audit of Material Unlisted Indian Subsidiary

There is no Material Unlisted Indian Subsidiary of the Company as on March 31, 2026 and as such the requirement under Regulation 24A of the Listing Regulations regarding the Secretarial Audit of Material Unlisted Indian Subsidiary is not applicable to the Company for the FY 25-26.

Reporting of Frauds by Auditors

During the year under review, the Statutory Auditors and Secretarial Auditor have not reported any instances of frauds committed in the Company by its Officers or Employees to the Audit Committee under section 143(12) of the Companies Act, 2013.

Maintenance of Cost Records

The Company is not required to maintain cost records as specified by the Central Government under sub-section (1) of Section 148 of the Companies Act 2013.

30. POLICIES ON APPOINTMENT OF DIRECTORS AND REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL AND EMPLOYEES:

In accordance with the provisions of section 134(3)(e) of the Companies Act, 2013 ("the Act") read with section 178(3) of the Act, your Company has adopted a Policy on Appointment of Directors and Senior Management and succession planning for orderly succession to the Board and the Senior Management, which inter alia, includes the criteria for determining qualifications, positive attributes and independence of Directors.

Your Company has also adopted the Policy on Remuneration of Directors, Key Managerial Personnel and Employees of the Company in accordance with the provisions of sub-section (4) of section 178, and the same are appended as Annexure IV-A and Annexure IV-B and form part of this Report.

31. PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES:

There are no employees drawing remuneration in excess of the limits specified in Rule 5(2) and Rule 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 further amended by Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016.

The ratio of remuneration of each Director to the median employees remuneration and other details in terms of Section 197 (12) 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 as Annexure V.

32. COMMITTEES OF BOARD

The Board of Directors, in line with the requirement of the act, has formed various committees, details of which are given hereunder.

• Audit Committee:

The Audit Committee of the Company is constituted in line with the provisions of Regulation 18 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") read with Section 177 of the Companies Act, 2013 ("Act").

During the year under review, the Audit Committee met 9 (Nine) times viz. 20th May 2025, 10th July 2025, 29th August 2025, 17th October 2025, 12th January 2026, 10th March 2026, 20th March 2026, 26th March 2026 & 30th March 2026. The intervening gap between two Meetings did not exceed one hundred and twenty days.

The composition of the Committee and the details of Meetings attended by its members are given below:

Name	Designation
Mr. Pankaj Vrajlal Sodha*	Chairman
Mr. Viren Bakraniya	Member
Mr. Kaushal Shambhu Ameta#	Member

*Ms. Yesha Aagam Shah was appointed in the resignation of Mr. Pankaj Vrajiai Sodha, w.e.f23.04.2026

#Mr. Diiipkumar Gajanand Nikhare was appointed in the resignation of Mr. Kaushai Shambhu Ameta, w.ef19.08.2026

Recommendations of the Audit Committee, wherever/whenever given, have been accepted by the Board of Directors.

Vigil Mechanism:

In pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013 The Company has established a vigil mechanism and accordingly framed a Whistle Blower Policy. The policy enables the employees to report to the management instances of unethical behavior actual or suspected fraud or violation of the Companys Code of Conduct.

Further the mechanism adopted by the Company encourages the Whistle Blower to report genuine concerns or grievances and provide for adequate safeguards against victimization of the Whistle Blower who avails of such mechanism and also provides for direct access to the Chairman of the Audit Committee in exceptional cases. The functioning of vigil mechanism is reviewed by the Audit Committee from time to time. During the year, no such incidence was reported, and no personnel were denied access to the Chairman of the Audit Committee or Chairman of the Company or the Corporate Governance Cell. The Whistle Blower Policy for Directors & Employees is available at web link:https://www.nsil.co.in/images/pdf/drafts/Policy for Whsitle Blower and Vigil Mechanism t o be uploaded.pdf

• Stakeholders Grievance & Relationship Committee:

The terms of reference are in line with Section 178 of the Companies Act, 2013 and Regulation 20 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

During the year under review, Stakeholders Grievance & Relationship Committee met 1 (One) time viz on 12th January 2026.

The composition of the Committee and the details of Meetings attended by its members are given below:

Name	Designation
Mr. Pankaj Vrajlal Sodha*	Chairman
Mr. Manoj Ashok Pardhee$	Member
Mr. Kaushal Shambhu Ameta#	Member

*Ms. Yesha Aagam Shah was appointed in the resignation of Mr. Pankaj Vrajiai Sodha, w.e.f23.04.2026

sMr. Aanai Miiankumar Satyawadi was appointed in the resignation of Mr. Manoj Ashok Pardhee, w.ef23.04.2026

#Mr. Diiipkumar Gajanand Nikhare was appointed in the resignation of Mr. Kaushai Shambhu Ameta, w.ef19.08.2026

Investor Grievances Redressal Status & Status of Scores

The details of complaints received and resolved during the Financial Year ended March 31, 2026, are given in the Table below. The complaints relate to non-receipt of annual report, dividend, share transfers, other investor grievances, etc.

Details of complaints received and resolved during the Financial Year 2025 26:

Particulars	Number of complaints
Opening as on April 1, 2025	0
Received during the year	0
Resolved during the year	0
Closing as on March 31, 2026	0

• Nomination and Remuneration Committee:

The Nomination and Remuneration Committee of the Company is constituted in line with the provisions of Regulation 19 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") read with Section 178 of the Companies Act, 2013 ("Act") is in line with the provisions of Section 178 of the Companies Act, 2013.

During the year under review, Nomination and Remuneration Committee met 4 (Four times) viz on 29th August 2025, 10th March 2026, 20th March 2026 & 30th March 2026.

The composition of the Committee and the details of Meetings attended by its members are given below:

Name	Designation
Mr. Pankaj Vrajlal Sodha*	Chairman
Mr. Manoj Ashok Pardhee$	Member
Mr. Kaushal Shambhu Ameta#	Member

*Ms. Yesha Aagam Shah was appointed in the resignation of Mr. Pankaj Vrajiai Sodha, w.e.f23.04.2026

sMr. Aanai Miiankumar Satyawadi was appointed in the resignation of Mr. Manoj Ashok Pardhee, w.ef23.04.2026

#Mr. Diiipkumar Gajanand Nikhare was appointed in the resignation of Mr. Kaushai Shambhu Ameta, w.ef19.08.2026

33. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

Particulars required under Section 134(3)(m) of the Companies Act, 2013 read with the Rule 8(3) of the Companies (Accounts) Rules, 2014 regarding conservation of energy, technology absorption, foreign exchange earnings and outgo forms part of this report as Annexure VI.

34. CORPORATE GOVERNANCE:

A report on Corporate Governance along with a certificate from the Secretarial Auditor of the Company regarding the compliance with the conditions of Corporate Governance as stipulated under the SEBI Listing Regulations, forms part of this Annual Report as Annexure VII.

35. RISK MANAGEMENT

The Company has established a comprehensive risk assessment and risk mitigation framework, which is periodically reviewed by the Board of Directors. The framework ensures that risks are identified, evaluated and effectively managed by the executive management through appropriate internal controls and monitoring mechanisms.

The Company has identified key risks across various functional areas, including business operations, project execution, finance, human resources, legal and statutory compliance, information technology, and environmental matters. Appropriate mitigation measures and control processes have been implemented to manage these risks effectively.

36. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Companys internal control systems are commensurate with the nature of its business and the size and complexity of its operations. The Statutory and the Internal Auditors routinely conduct system checks and give their report after evaluation of the efficacy and adequacy of internal control systems including controls with respect to the financial statements, its compliance with operating systems, accounting procedures and policies in the Company. Based on the report of Internal Audit, the departments undertake corrective action in their respective areas and thereby strengthen the controls. The significant audit observations and follow up actions thereon are reported to the Audit Committee as well and further corrective action taken as per the inputs received from the committee members and the auditors.

37. CORPORATE SOCIAL RESPONSIBILITY:

During the financial year 2025-26, the Company did not earn net profits as computed under Section 198 of the Companies Act, 2013. Accordingly, there was no statutory obligation to incur any expenditure towards Corporate Social Responsibility ("CSR") activities during the year.

In line with the above and in accordance with the provisions of Section 135 of the Act, the requirement for constitution of the CSR Committee shall not be applicable for the said financial year and the functions of such Committee be discharged by the Board of Directors of Company. Consequently, the requirement to annex an Annual Report on CSR Activities, as prescribed under Rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014, does not arise for the financial year 2025-26.

The provisions relating to Corporate Social Responsibility shall be applicable to the Company for the financial year 2026-27, subject to the applicability of the provisions of Section 135 of the Companies Act, 2013. Accordingly, the Company shall undertake the requisite CSR activities and comply with the applicable provisions, as may be required.

In terms of Section 135 of the Act read with Companies (Corporate Social Responsibility Policy) Rules, 2014, your Company has also formulated a CSR Policy which is available on your Companys website at https://www.nsil.co.in/images/pdf/drafts/Corporate%20Social%20Responsibility%20Policy Netlink .docx.pdf.

38. EXPLANATIONS OR COMMENTS BY BOARD ON EVERY QUALIFICATION, RESERVATION OR ADVERSE REMARK OR DISCLAIMER MADE:

There were no qualifications, reservations or adverse remarks made either by the Auditors or by the Practicing Company Secretary in their respective reports.

39. RECEIPT OF ANY COMMISSION BY MD / WTD FROM COMPANY OR FOR RECEIPT OF COMMISSION/REMUNERATION FROM ITS HOLDING OR SUBSIDIARY COMPANY

During the year under review, the Company has not paid any commission to any of its directors. The Company does not have any Subsidiary. The Holding Company has not paid any commission to any of its Whole Time Director during the year under review.

40. SECRETARIAL STANDARDS

The Company has devised proper systems to ensure compliance with the provisions of Secretarial Standards on Meetings of the Board of Directors (SS-1) and Secretarial Standards on General Meetings (SS-2) and is in compliance with the same.

41. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 DURING THE YEAR ALONG WITH THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR:

There was no application made and proceeding initiated / pending under the Insolvency and Bankruptcy Code, 2016, by any Financial and/or Operational Creditors against your Company during the year under review. As on the date of this report, there is no application or proceeding pending against your Company under the Insolvency and Bankruptcy Code, 2016.

42. 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:

The Company has not defaulted in repayment of any of its loans with Banks or Financial Institutions and hence the requirement of providing 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 / Financial Institutions along with the reasons thereof is not applicable to the Company

43. POLICY FOR PREVENTION OF INSIDER TRADING:

Pursuant to Regulation 9 of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the Company has formulated and adopted the Code of Conduct for Prevention of Insider Trading.

The Code lays down guidelines and procedures to be followed and disclosures to be made while dealing with the shares of the Company and cautioning them on the consequence of non-compliances.

The code of conduct to regulate, monitor and report trading by insiders is available on the website of the Company at https://www.nsil.co.in/policy.html

44. GREEN INITIATIVES

The Notice of the AGM and the Annual Report 2025-26 is being sent only electronically to Members whose email addresses are registered with the company or depositories in accordance with Regulation 36 of the Listing Regulations. Members may take note that the Notice and Annual Report for 2025-26 will also be accessible at the website of the Company i.e. https://www.nsil.co.in/

45. GENERAL DISCLOSURE:

Your Directors confirm that the Company has made all necessary disclosures in this Report in accordance with the requirements under Section 134(3) of the Companies Act, 2013, Rule 8 of the Companies (Accounts) Rules, 2014, and other applicable provisions of the Act and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to the extent applicable and relevant to transactions undertaken during the Financial Year.

46. CAUTIONARY STATEMENT:

Certain statements in the Directors Report describing the Companys objectives, projections, estimates, expectations or predictions may be forward-looking statements within the meaning of applicable securities laws and regulations. Actual results could differ from those expressed or implied. Important factors that could make a difference to the Companys operations include labour and material availability, and prices, cyclical demand and pricing in the Companys principal markets, changes in government regulations, tax regimes, economic development within India and other incidental factors.

47. APPRECIATION AND ACKNOWLEDGEMENT:

The Directors would like to thank all shareholders, the Ministry of Corporate Affairs, the Securities and Exchange Board of India, the Government of India and other Regulatory Authorities, the BSE Limited, Bankers, Members, Customers, contractors, suppliers, associates and Employees of the Company for their continued support and trust.

Your Directors would like to express deep appreciation for the commitment shown by the employees in supporting the Company in achieving continued robust performance on all fronts.