OBSC Perfection Ltd Directors Report

To,

The Members,

Your Directors are pleased to present the 9 th Annual Report of your Company together with the Audited Financial Statements and Auditors Report for the year ended 31 st March, 2025.

FINANCIAL SUMMARY AND HIGHLIGHTS:

The financial performance of the Company during the year ended 31 st March, 2025 compared to the previous year is summarized below:

(Amount in Lakhs)

Particulars	2024-25	2023-24
Revenue From Operations	14278.92	11503.03
Other Income	241.23	108.38
Net Income	14520.15	11611.41
Profit / (Loss) before tax & Exceptional / Extraordinary items	2063.49	1643.08
Add / (Less): Exceptional / Extraordinary items	0.00	0.00
Profit/(Loss) Before Tax	2063.49	1643.08
Less: Tax Expenses
- Provision for tax	465.00	384.00
- Tax for earlier years	-	(0.20)
- Deferred Tax Adjustments	(77.55)	38.07
Net Profit/(Loss) After Tax	1676.04	1221.21

REVIEW OF OPERATIONS:

During the financial year 2024-25, Net Income of your Company has increased to Rs. 14278.92/- Lakhs as against Net Income of Rs. 11503.03/- Lakhs of the previous year. Accordingly, the Companys Net Profit after tax has been increased to Rs. 1676.04/- Lakhs for the current year as against the Net Profit after tax of Rs. 1221.21/- Lakhs of the previous year. The performance of the Company has been discussed in the Management Discussion and Analysis Report, which is forming part of the Annual Report.

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 per the main objects of the Company.

DIVIDEND:

With a view to conserve the resources for future prospect and growth of the Company, the Board of Directors of the Company have not recommended any Dividend on Equity Shares of the Company.

DEPOSITS:

During the year under review, your Company has neither invited, accepted nor renewed any Public Deposits within the meaning of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014.

TRANSFER TO RESERVES:

During the year under review, your Directors have not proposed to transfer any amount to Reserves.

CORPORATE SOCIAL RESPONSIBILTY:

The provision of Section 135 of Companies Act, 2013 and rules made thereunder are applicable to our Company for the financial year ended 31 st March, 2025. The brief outline of the Corporate Social Responsibility (CSR) Policy of the Company is set out in Annexure I of this Report. The CSR Policy is also available on Companys website at https://www.obscperfection.com.

SHARE CAPITAL:

Authorized Equity Share Capital:

During the year, there is no change in authorized share capital of the Company.

Issued, Subscribed & Paid-up Equity Share Capital:

During the financial year, the Company came out with the Initial Public Offer and hence, issued and allotted 66,02,400 equity shares of Rs. 10/- (Ten) each at the premium of Rs. 90/- (Rupees Ninety Only) per equity share. Accordingly, paid-up equity share capital of the Company stands enhanced to Rs. 24,45,24,000/- divided into 2,44,52,400 Equity Shares of Rs. 10/- (Ten) each.

The Company got listed on the EMERGE platform of National Stock Exchange on 29/10/2024.

Further, during the period under review, your Company has not bought back any of its securities / has not issued any Sweat Equity Shares / has not issued shares with Differential Voting rights / has not issued any shares under Employee stock option plan and there has been no change in the voting rights of the shareholders.

BOARD OF DIRECTORS:

Constitution of Board:

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

The Board of Directors of the Company has an optimum combination of Executive, Non-Executive and Independent Directors. As on 31 st March, 2025, your Company has Six Directors, out of which three are Promoter Executive Directors, one is Promoter Non-Executive Director and two are Non-Executive Independent Directors.

The Chairperson of the Board is a Non-Executive Director.

None of the directors hold directorship in more than ten public companies nor is a member of more than ten committees or chairman of more than five committees across all the public limited companies in which he or she is Director.

The necessary disclosures regarding Committee positions have been made by all the Directors.

As on 31 st March, 2025, Your Company has 6 (Six) Directors, namely:

Name of Directors	DIN	Designation	Date of Appointment	No. of Committee		Total Director ship	No. of Shares held as on March 31, 2025
				in which Director is Member	in which Director is Chairperson
Mrs. Asha Narang	00296714	Chairperson and NonExecutive Director	17/03/2017	2	0	9	0
Mr. Sanjeev Verma	00296825	CFO & Executive Director	17/03/2017	1	0	10	0
Mr. Saksham Leekha	07389575	Managing Director	17/03/2017	1	0	2	35,87,847
Mr. Ashwani Leekha	07389860	Executive Director	17/03/2017	0	0	2	44,62,500
Mr. Ravikumar Ramniranjan Khandelwal	06751477	Non Executive Independent Director	10/05/2024	0	3	2	0
Mr. Pradeep Harikishan Chabra	10570627	Non Executive Independent Director	10/05/2024	2	0	1	0

A

Committee includes Audit Committee, Nomination and Remuneration Committee and Shareholders Grievances Committee across all Public Companies.

Mr. Sanjeev Verma (DIN: 00296825), Director of the Company is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment.

KEY MANAGERIAL PERSONNEL:

As on 31 st March, 2025, Your Company has following Key Managerial Personnel (KMP):

1. Mr. Saksham Leekha (DIN: 07389575) - Managing Director

2. Mr. Sanjeev Verma - Chief Financial Officer

3. Mr. Abhishek Kumar Pandey (FCS No.: 12457) - Company Secretary & Compliance Officer

After the closure of financial year till the signing of this report, there were following changes in Key Managerial Personnel (KMP) of the Company:

Mr. Abhishek Kumar Pandey resigned as the Company Secretary of the Company w.e.f. 30 th April, 2025 and Mr. Mudit Johri was appointed as the Company Secretary and Compliance Officer of the Company w.e.f. 01 st May, 2025.

MEETINGS:

(i) Meetings of the Board of Directors:

During the year under review, twenty-five (25) meetings of Board of Directors of the Company were held. The dates on which the said meetings were held are as follows:

S. No.	Date of the Board Meeting
1.	10.04.2024
2.	09.05.2024
3.	10.05.2024
4.	22.05.2024
5.	20.06.2024
6.	01.07.2024
7.	05.07.2024
8.	10.07.2024
9.	18.07.2024
10.	23.07.2024
11.	02.08.2024
12.	02.09.2024
13.	09.10.2024
14.	11.10.2024
15.	16.10.2024
16.	21.10.2024
17.	25.10.2024
18.	14.11.2024
19.	18.01.2025
20.	08.02.2025
21.	12.02.2025
22.	19.02.2025
23.	01.03.2025
24.	26.03.2025
25.	31.03.2025

The intervening gap between the Meetings did not exceed the period prescribed under the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

The details of attendance of each Director at the Board Meetings held for the financial year 2024-25 and Annual General Meeting held for the financial year 2023-24 are as under:

Name of Directors	DIN	Designation	No. of Board Meetings Eligible to attend	No. of Board Meetings Attended	8 th AGM Attended
Mrs. Asha Narang	00296714	Chairperson and Non-Executive Director	25	25	Yes
Mr. Sanjeev Verma	00296825	CFO & Executive Director	25	25	Yes
Mr. Saksham Leekha	07389575	Managing Director	25	25	Yes
Mr. Ashwani Leekha	07389860	Executive Director	25	25	Yes
Mr. Ravikumar Ramniranjan Khandelwal	06751477	Non- Executive Independent Director	22	9	Yes
Mr. Pradeep Harikishan Chabra	10570627	Non- Executive Independent Director	22	5	Yes

(ii) Meeting of Members:

During the Financial Year ended 31 st March, 2025, the Company held Extra-Ordinary General Meeting of members of the Company on 22 nd May, 2024 and 12 th July, 2024 and the 8 th Annual General Meeting of the Company was held on 30 th September, 2024.

BOARD COMMITTEES:

The Board of Directors has constituted various committees in accordance with the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to ensure focused and effective governance.

These Committees have their respective Charters and play an important role in the overall management and governance of the Company.

The Board Committees meet at regular intervals and take necessary steps to perform their duties entrusted by the Board.

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

A. Audit Committee

B. Nomination and Remuneration Committee

C. Stakeholders Relationship Committee

A. Audit Committee:

The Board has constituted the Audit Committee in compliance with Section 177 of the Companies Act, 2013 and Regulation 18 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Company has formed audit committee for the purpose of assisting the Board in fulfilling its overall responsibilities of monitoring financial reporting processes, reviewing the Companys established systems and processes for internal financial controls, governance and reviewing the Companys statutory and internal audit activities.

The terms of reference of the Committee, inter alia, include:

• Oversight of the Companys financial reporting process and the disclosure of its financial information to ensure that the financial statement is correct, sufficient and credible.

• Reviewing with the management, the annual financial statements and auditors report thereon before submission to the Board for approval.

• Recommending to the Board, the appointment, re-appointment and, if required, the replacement or removal of the statutory auditor and the fixation of audit fees.

• Approval or any subsequent modification of transactions of the Company with related parties.

• Evaluation of internal financial controls and risk management systems.

• Recommendation for appointment, remuneration and terms of appointment of auditors of the Company.

• Approve policies in relation to the implementation of the Insider Trading Code and to supervise implementation of the same.

Composition of Committee, Meeting and Attendance of each Member at Meetings:

As on 31 st March, 2025, the Audit Committee comprised of 3 Directors, out of which 2 are Independent Directors. All the Members of the Committee are well qualified, experienced and possesses required knowledge of accounts, finance and other comparable experience and background. The Company Secretary of the Company act as a Secretary of the Committee. The maximum gap between two meetings was not more than 120 days.

During the financial year ended 31 st March, 2025, the Audit Committee met Seven times:

1.	01/07/2024	2.	05/07/2024	3.	18/07/2024
4.	09/10/2024	5.	14/11/2024	6.	06/02/2025
7.	31/03/2025

The details of composition of the Committee and their attendance at the meetings are given below:

Name of Directors	Category	Designation in Committee	No. of Meetings held	No. of Meetings eligible to attend	No. of Meetings attended
Mr. Ravi Ramniranjan Khandewal	Non - Executive Director and Independent Director	Chairman	7	7	7
Mr. Pradeep Harikishan Chabra	Non - Executive Director and Independent Director	Member	7	7	7
Mrs. Asha Narang	Non - Executive Director	Member	7	7	7

Committee invites such of the executives as it considers appropriate, representatives of the statutory auditors and internal auditors, to be present at its meetings. The Company Secretary is the Compliance Officer to ensure compliance and effective implementation of the Insider Trading Code.

Vigil Mechanism/Whistle Blower Policy:

The Company has adopted Vigil Mechanism/Whistle Blower Policy in accordance with the provisions of Section 177 of the Companies Act, 2013 read with Rule 7 of the Companies (Meetings of Board and its Powers) Rules, 2014 and Regulation 22 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Under this policy, your Company encourages its employees to report any reporting of fraudulent financial or other information to the stakeholders, and any conduct that results in violation of the Companys code of business conduct, to the management (on an anonymous basis, if employees so desire). Further, your Company has prohibited discrimination, retaliation or harassment of any kind against any employees who, based on the employees reasonable belief that such conduct or practice has occurred or are occurring, reports that information or participates in the investigation. The Vigil Mechanism/Whistle Blower Policy is being made available on the Companys website at the web link https://www.obscperfection.com/

B. Nomination and Remuneration Committee:

The Board has constituted the Nomination and Remuneration Committee of the Company in compliance with Section 178 of the Companies Act, 2013 and Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The terms of reference, inter alia, include:

Terms of reference:

• Recommend to the Board the setup and composition of the Board and its Committees.

• Recommend to the Board the appointment/re-appointment of Directors and Key Managerial Personnel.

• Support the Board and Independent Directors in evaluation of the performance of the Board, its committees and individual Directors.

• Recommend to the Board the Remuneration Policy for Directors, executive team or Key Managerial Personnel as well as the rest of employees.

• Oversee familiarization programs for Directors.

Composition of Committee, Meeting and Attendance of each Member at Meetings:

The Nomination and Remuneration Committee shall meet at least once in a year. The quorum for a meeting of the Nomination and Remuneration Committee shall be either two members or one third of the members of the committee, whichever is greater, including at least one independent director in attendance.

As on 31 st March, 2025, the Nomination and Remuneration Committee comprised of 3 Non-Executive Directors, out of which 2 are Independent Directors. The Company Secretary of the Company act as a Secretary of the Committee.

During the financial year ended 31 st March, 2025, the Nomination and Remuneration Committee met Twice (2) on 20/06/2024 and 03/03/2025. The requisite quorum was present at all the Meetings.

The details of composition of the Committee and their attendance at the meetings are given below:

Name of Directors	Category	Designation in Committee	No. of Meetings held	No. of Meetings eligible to attend	No. of Meetings attended
Mr. Ravi Ramniranjan Khandewal	Non - Executive Director and Independent Director	Chairman	2	2	2
Mr. Pradeep Harikishan Chabra	Non - Executive Director and Independent Director	Member	2	2	2
Mrs. Asha Narang	Non-Executive Director	Member	2	2	2

Nomination and Remuneration Policy:

In accordance with the provisions of Section 178 of the Companies Act, 2013, the Board of Directors of the Company has adopted the Nomination and Remuneration Policy (the Policy). The Policy, inter alia, provides guidelines for the appointment, removal and remuneration of the Directors, Key Managerial Personnel and Senior Managerial Personnel of the Company.

The said policy can be downloaded from the website of the Company https://www.obscperfection.com/

C. Stakeholders Relationship Committee:

The Board has constituted the Stakeholders Relationship Committee in compliance with Section 178 of the Companies Act, 2013 and Regulation 20 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 mainly to focus on the redressal of Shareholders / Investors Grievances, if any, like Transfer / Transmission / Demat of Shares; Loss of Share Certificates; Nonreceipt of Annual Report; Dividend Warrants; etc.

The Committee also oversees the performance of the Registrar & Transfer agents of the Company relating to the investors services and recommends measures for improvement.

The terms of reference, inter alia, include:

• Consider and resolve the grievances of security holders.

• Consider and approve issue of share certificates, transfer and transmission of securities, etc.

• Review activities with regard to the Health Safety and Sustainability initiatives of the Company.

Composition of Committee, Meeting and Attendance of each Member at Meetings:

The Stakeholders Relationship Committee shall meet as and when required to review and discuss the matters specified in terms of reference of Stakeholders relationship Committee and number of times the Committee shall meet shall be as per Section 178 of Companies Act, 2013 or any other rules, regulations or standard applicable to the company.

As on 31 st March, 2025, the Stakeholders Relationship Committee comprised of 3 Directors. The Company Secretary of the Company act as a Secretary of the Committee.

During the financial year ended 31 st March, 2025, the Stakeholders Relationship Committee met Once (1) on 03/03/2025. The requisite quorum was present at all the Meetings.

The details of composition of the Committee and their attendance at the meeting is given below:

Name of Directors	Category	Designation in Committee	No. of Meetings held	No. of Meetings eligible to attend	No. of Meetings attended
Mr. Ravi Ramniranjan Khandewal	Non - Executive Director and Independent Director	Chairman	1	1	1
Mr. Sanjeev Verma	Executive Director and Chief Financial Officer	Member	1	1	1
Mr. Saksham Leekha	Managing Director	Member	1	1	1

Status of shareholders complaints during the financial year 2024-25:

Number of Shareholders\u2019 Complaints Pending at the beginning of the year	0
Number of Shareholders\u2019 Complaints received during the year	0
Number of Shareholders\u2019 Complaints disposed during the year	0
Number of Shareholders\u2019 Complaints remain unresolved at the end of year	0

INDEPENDENT DIRECTORS:

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

has received declarations from all the Independent Directors confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Act and Regulation 16(1)(b) of the SEBI Listing Regulations and are independent of the Management. In terms of Regulation 25(8) of the SEBI Listing Regulations, they have confirmed that they are not aware of any circumstance or situation which exist or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgement and without any external influence.

The Board of Directors of the Company has taken on record the declaration and confirmation submitted by the Independent Directors after undertaking due assessment of the veracity of the same. The Board is of the opinion that all Directors including the Independent Directors of the Company possess requisite qualifications, integrity, expertise and experience in the fields of science and technology, digitalization, strategy, finance, governance, human resources, safety, sustainability, etc. In the opinion of the Board, the Independent Directors of the Company are persons of high repute, integrity and possesses the relevant expertise and experience in the respective fields. The Independent Directors of the Company have confirmed that they have enrolled themselves in the Independent Directors Databank maintained with the Indian Institute of Corporate Affairs (IICA) in terms of Section 150 of the Act read with Rule 6 of the Companies (Appointment & Qualification of Directors) Rules, 2014.

During the year under review, the Non-Executive Directors of the Company had no pecuniary relationship or transactions with the Company, other than sitting fees, commission and reimbursement of expenses incurred by them for the purpose of attending meetings of the Board/Committees of the Company.

A separate meeting of Independent Directors was held on December 09 th , 2024 to review the performance of Non-Independent Directors, Board as whole and performance of Chairperson of the Company including assessment of quality, quantity and timeliness of flow of information between Company management and Board.

The terms and conditions of appointment of Independent Directors and Code for Independent Director are incorporated on the website of the Company at https://www.obscperfection.com/ .

As on 31 st March, 2025 and the date of signing of this report, Your Company has 2 (Two) Independent Directors, namely:

1. Mr. Ravikumar Ramniranjan Khandelwal (DIN: 06751477) - Non-Executive Independent Director

2. Mr. Pradeep Harikishan Chabra (DIN: 10570627) - Non-Executive Independent Director

CORPORATE GOVERNANCE

Pursuant to Regulation 15(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the compliance under Regulation 27(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 shall not apply to our Company. Therefore, the Company has not provided a separate report on Corporate Governance.

However, Company is complying with few of the exempted regulations voluntarily and details of same are provided in this report under the respective heading.

CODE OF CONDUCT:

The Company has always encouraged and supported ethical business practices in personal and corporate behavior by its Directors and employees. The Company has framed a Code of Conduct for

Board Members and Senior Management Staff of the Company. The Board Members and Senior Management Staff have affirmed compliance with the said Code of Conduct. The approved Code of Conduct also incorporates the duties of Independent Directors as laid down in the Companies Act, 2013. The Code of Conduct is posted on Companys website https://www.obscperfection.com/ .

Pursuant to Regulation 26(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, all Board members and Senior Management Personnel have affirmed compliance with the applicable Code of Conduct. A declaration to this effect, signed by the Managing Director and Chairperson forms part of this report as Annexure II.

CERTIFICATE ON NON-DISQUALIFICATION OF DIRECTORS:

M/s. Nitin Bhatia & Co., Practicing Company Secretaries, Delhi, have certified Non-Disqualifications of the Directors as on 31 st March, 2025, pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 annexed as Annexure III.

ANNUAL RETURN:

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the Annual Return of the Company has been uploaded on the website of the Company at https://www.obscperfection.com/ .

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES:

All the transactions/contacts/arrangements made with related parties are placed before the Audit Committee and the Board of Directors for review and approval on a quarterly basis and also for prior approval wherever required. The omnibus approval is obtained on yearly basis for related party transactions which are of a foreseeable and repetitive nature.

During the financial year 2024-25, all the related party transactions entered into by the Company with related parties were in the ordinary course of business and were at arms length basis and no material related party transactions were entered into by the Company with related parties. As per Rule 8(2) of the Companies (Accounts) Rules, 2014, the details of contract or arrangements made with related parties as defined under Section 188 of the Companies Act, 2013 during the year under review, is appended as Annexure IV to this Report in Form AOC-2.

All the transactions entered into by the Company with related parties were in compliance with the applicable provisions of the Companies Act, 2013 read with the relevant rules made thereunder and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Policy on Transactions with Related Parties as approved by the Board is uploaded on the Companys website at https://www.obscperfection.com/ .

STATUTORY AUDITORS AND THEIR REPORT:

M/s. P.K. Chand & Co., Chartered Accountant, (FRN: 512371C) was appointed as a Statutory Auditor of the Company in 8 th Annual General Meeting held on 30 th September, 2024 for their first term of 5

(Five) years commencing from the conclusion of Annual General Meeting held on 30 th September, 2024 till the conclusion of Annual General Meeting of the Company to be held in the Year 2029.

Pursuant to the Companies Amendment Act, 2017 read with the Companies (Audit and Auditors) 2nd Amendment Rules, 2018 and Notification S.O. 1833(E) dated May 7, 2018, the ratification of appointment of Statutory Auditor at each Annual General Meeting of the Company is not required. Accordingly, ratification of appointment of the statutory Auditors is not proposed at the ensuing 09 th Annual General Meeting of the Company.

The Auditors Report does not contain any qualification or adverse remark. Notes to Accounts and Auditors remarks in their report are self-explanatory and do not call for any further comments. The Auditors has not reported any matter of an offence of fraud to the Company required to be disclosed under Section 143(12) of the Companies Act, 2013.

SECRETARIAL AUDITOR AND THEIR REPORT:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board in its Meeting held on March 26, 2025, has appointed M/s. Nitin Bhatia & Co., Practicing Company Secretary (COP No. 12902), Delhi to undertake the Secretarial Audit of the Company for the Financial Year 2024-25. The Secretarial Audit Report for the Financial Year 2024-25 in Form MR-3 is attached to this report as Annexure V.

The Secretarial Auditors Report contains a remark that the Company has not filed certain charge related forms with the Registrar of Companies. The Board of Directors has taken note of the same and confirms that necessary steps are being taken to complete the said filings.

The Board of Director, based on the recommendation of Audit Committee, proposed for the approval of members in this Annual General Meeting for the appointment of M/s. Nitin Bhatia & Co., Practicing Company Secretary (COP No. 12902), Delhi and a Peer Reviewed Firm, as the Secretarial Auditor of the company, for performing Secretarial Audit of the company for a period of five consecutive years commencing from April 01, 2025 till March 31, 2030 in accordance with the amendment notified in Regulation 24A of SEBI (LODR) Regulations, 2015, with effect from April 01, 2025.

INTERNAL AUDITOR:

Pursuant to the provisions of Section 138 of the Companies Act 2013 read with Rule 13 of the Companies (Accounts) Rules, 2014 and other applicable provisions, the Board in its Meeting held on March 31, 2025, has appointed M/s M N Parmar & Associates, as the Internal Auditor of the Company for the Financial Year 2024-25 to conduct periodic audit of all operations of the Company.

The internal auditor report, their findings on the internal audit of the company shall be presented to the audit committee on an annual basis. The scope of internal audit is approved by the audit committee.

REGISTRAR AND SHARE TRANSFER AGENT:

Your Company has appointed M/s. Bigshare Services Private Limited as the Registrar & Transfer Agent (RTA) for Share Registry Services and IPO related work upon such terms and conditions as may be mutually agreed. Under the Depository System, the International Securities Identification Number (ISIN) allotted to the Companys equity shares is INE0YHV01011.

INITIAL PUBLIC OFFER (IPO):

During the Financial year 2024-25, the Company has filed Red Herring Prospectus (RHP) with NSE on SME Emerge platform for Initial Public Issue of 66,02,400 Equity Shares of face value of Rs. 10/- each on 16/10/2024.

Pursuant to completion of Initial Public Offer (IPO) of 66,02,400 Equity Shares of face value of Rs. 10/- each, issued at a price of Rs. 100/- per share (including a share premium of Rs. 90/- per equity share), paid-up share capital of the Company stands enhanced to Rs. 24,45,24,000/- divided into 2,44,52,400 Equity Shares of Rs. 10/- (Ten) each w.e.f. 25/10/2024.

LISTING OF EQUITY SHARES:

Your Company has received Listing and Trading approval from NSE Limited vide its letter dated 28 th October, 2024, permitting Listing and Trading of 2,44,52,400 Equity Shares of the Company on SME (Emerge) platform w.e.f. 29 th October, 2024.

UTILISATION OF FUNDS:

Pursuant to the SEBI Listing Regulations & SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the net proceeds of IPO have been utilized during FY 2024-25, in line with the objects of the offer. Detailed Report for such utilization submitted to Stock Exchanges in compliance with the aforesaid regulations.

MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:

There have been no material changes and commitments, affecting the financial position of the Company which occurred between the end of the financial year to which the financial statements relate and the date of this report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

In terms of Regulation 34 read with Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 a review of the performance of the Company is provided in a separate section and forms an integral part of this Report in Management Discussion and Analysis Report annexed as Annexure VII.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 134(3)(c) 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 for the financial year 31 st March, 2025, the applicable accounting standards had been followed. There are no material departures in the adoption of the applicable Accounting Standards.

b) appropriate accounting policies have been selected and applied them consistently and judgments and estimates have been made 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 31 st March, 2025 and of the profit of the company for that period;

c) proper and sufficient care have been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

d) the annual accounts have been prepared on going concern basis;

e) the proper internal financial controls are laid down and are adequate and operating effectively.

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

LISTING FEES:

The Equity Shares of the Company are listed on Emerge Platform of NSE Limited and the Company has paid the applicable listing fees to the Stock Exchange.

RISK MANAGEMENT:

A well-defined risk management mechanism covering the risk mapping and trend analysis, risk exposure, potential impact and risk mitigation process is in place. The objective of the mechanism is to minimize the impact of risks identified and taking advance actions to mitigate it. The mechanism works on the principles of probability of occurrence and impact, if triggered. A detailed exercise is being carried out to identify, evaluate, monitor and manage both business and non-business risks. Presently no material risk has been identified by the directors except of general business risks, for which the Company is leveraging on their expertise and experience.

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

A. CONSERVATION OF ENERGY

(i) Steps taken or impact on conservation of energy: -

• Power Factor Improvement activity was carried out through installation of Automatic Capacitor Panels. There was a net energy saving of 64500 units and Rs.7.50 Lakhs in FY 24-25;

• There was an energy conservation through automatic control of continuous duty motors thus saving 15600 units and Rs. 1.81 Lakhs in FY 24-25

(ii) Steps taken by the Company for utilizing alternate sources of energy: -

• Commissioning of 300 kWp Roof Top Solar Power Plant: Successfully commissioned a 300 kWp rooftop solar power plant with installations completed in September 2024. The solar power plant generated significant savings, amounting to INR 20.93 lakh for the fiscal year 24-25. The implementation of this solar power plant contributed to a substantial reduction in carbon footprint, with a decrease of over 510 tons of CO2 emissions in the 6 months.

a) Total Energy Consumption and energy consumption per unit of production as per prescribed Form -A Form -A

A) Power & Fuel Consumption

1) Electricity	Current Year (20242025)	Previous Year (20232024)
a) Purchased
Unit (KWH)	3621020	2656401
Total Amount (Rs.)	42094590	32327412
Rate/Unit	11.63	12.17
b) Own Generation
i) Through Diesel Generator
Unit (KWH)	195655	136509
Unit per Ltr of Diesel Oil	3.58	3.45
Cost/Unit	26.11	26.61
ii)Through Steam Turbine/ Generator
Units	NA	NA
Units per Ltr of fuel oil/gas	NA	NA
Cost/Unit	NA	NA
2) Coal (Specify quantity & where used)	Current Year (20242025)	Previous Year (20232024)
Quantity (Tonnes)	NA	NA
Total Cost	NA	NA
Average Rate	NA	NA
3)Furnace Oil	Current Year (20242025)	Previous Year (20232024)
Quantity (k.Ltrs)	NA	NA
Total Amount	NA	NA
Average Rate	NA	NA
4)Other/internal generation (please give details)	Current Year (20242025)	Previous Year (20232024)
Quantity (Solar plant)	180000	NA
Total Cost	2093400	NA
Rate/Unit	11.63	NA

B) Consumption per unit of Production

	Standards (if any)	Current Year (2024-2025)	Previous Year (2023-2024)
Products unit	NOS	24537480	18590000
Electricity (KWH/Nos)		0.74	0.59
Furnace Oil	NA	NA	NA
Coal (specify quality)	NA	NA	NA
Others (specify)

B. TECHNOLOGY ABSORPTION

1. Research & Development (R&D)

a. Specific areas in which R&D carried out by the company: NA

b. Benefits derived as a result of above R&D: NA

c. Future plan of action: NA

d. Expenditure on R&D: NA

2. Technology Absorption, Adaptation and innovation - NA

C. FOREIGN EXCHANGE EARNINGS AND OUTGO

Expenditure in Foreign Currency

i) In USD : 713764.10

ii) In Indian Rs: 61059297.04

Foreign Exchange Earning During the Year

i) In USD : 679999.89

ii) In EURO : 1784365.06

iii) In JPY : 6330000

iv) In Indian Rs : 280430575.38

DETAILS ABOUT HOLDING, SUBSIDIARY & ASSOCIATE COMPANIES / JOINT VENTURES:

As on 31 st March, 2025, the Company does not have any holding, subsidiary & associate companies and has not entered into any joint venture with any other company.

DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013:

The Company has zero tolerance for sexual harassment at workplace and has adopted a policy prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the rules thereunder at workplace.

The Company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

During the Financial Year, the Company had not received any complaints and no complaints were pending as on 31 st March, 2025.

Further, the Company ensures that there is a healthy and safe atmosphere for every women employee at the workplace.

PARTICULARS OF EMPLOYEES:

The information containing the names and other particulars of ratio of Directors Remuneration to Median Employees Remuneration in accordance with the provisions 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 is attached to this report as Annexure VIII.

The total number of employees on the payroll of the Company are 101 (One Hundred One), Out of them total male employees are 97 (Ninety-Seven) and total female employee are 4 (Four).

The statement containing names of top ten employees in terms of remuneration drawn and the particulars of employees as required under Section 197(12) of the Act read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided in a separate annexure forming part of this report.

Further, the report and the accounts are being sent to the Members excluding the aforesaid annexure. In terms of Section 136 of the Act, the said annexure is open for inspection and any Member interested in obtaining a copy of the same may write to the Company Secretary.

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

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

MAINTENANCE OF COST RECORDS & AUDIT:

Your Company is not required to maintain cost records as specified by the Central Government under Section 148(1) of the Companies Act, 2013. The provision of cost audit does not apply to your Company.

INTERNAL FINANCIAL CONTROL SYSTEM AND THEIR ADEQUACY:

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. The scope and authority of the Internal Auditor is well defined by the Audit Committee. The Internal Auditor monitors and evaluates the efficacy and adequacy of Internal Control Systems in

the Company, its compliance with operating systems, accounting procedures and policies at all locations of the Company.

Based on the report of Internal Auditor, process owners undertake corrective action in their respective areas and thereby strengthen the controls. Significant audit observations and corrective actions suggested are presented to the Audit Committee of the Board.

SECRETARIAL STANDARDS COMPLIANCE:

During the year under review, the Company has complied with all the applicable Secretarial Standards issued by the Institute of Company Secretaries of India and adopted by the Central Government pursuant to Section 118 of the Companies Act, 2013.

FAMILIARISATION PROGRAMME FOR BOARD MEMBERS / INDEPEDNENT DIRECTORS:

Your Company has a structured programme for the new Board members so as to enable them to understand the nature of the industry in which the Company operates, its management and its operations.

They are also familiarized with Companys organizational and governance structure, governance philosophy/ principles, code of conduct & key policies, Boards way of working & procedures, Formal information sharing protocol between the Board and the management, Directors roles & responsibilities and disclosure obligations.

The details of the familiarization program and process followed can be accessed on the website of the Company at https://www.obscperfection.com/

BOARD DIVERSITY AND INCLUSION:

Your Company diligently cognizes a culture of diversity and inclusion in the Board as the pre-requisite for achieving long-term growth and development steered through effective strategy and governance. In a bid to ensure timely anticipation of risks and opportunities while promoting the persuasive desire of the stakeholders for greater diversity, our Board reflects an appropriate balance of skills, professional experiences, personal background and leadership perspectives.

In view of the above, your Company has adopted the Board Diversity Policy and Diversity, Equity & Inclusion Policy that sets out its approach to diversity. The policies can be accessed on the website of the Company at https://www.obscperfection.com/

FORMAL ANNUAL EVALUATION OF THE PERFORMANCE OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTORS:

The annual evaluation process of the Board of Directors, individual Directors and Committees was conducted in accordance with the provision of the Act and the SEBI Listing Regulations.

The Board evaluated its performance after seeking inputs from all the Directors on the basis of criteria such as the Board composition and structure, effectiveness of Board processes, information and functioning, etc. The performance of the Committees was evaluated by the Board after seeking inputs from the committee members on the basis of criteria such as the composition of Committees, effectiveness of Committee meetings, etc. The above criteria are broadly based on the Guidance Note on Board Evaluation issued by the SEBI.

The Chairman of the Board had one-on-one meetings with the Independent directors and the Chairman of NRC had one-on-one meetings with the Executive and Non-Executive, Non-Independent Directors. These meetings were intended to obtain Directors inputs on effectiveness of the Board/ Committee processes.

The Board and the NRC reviewed the performance of individual Directors on the basis of 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.

In a separate meeting of independent directors, performance of Non-Independent Directors and the Board as a whole was evaluated. Additionally, they also evaluated the performance of Chairman of the Board, taking into account the views of Executive and Non-Executive Directors in the aforesaid Meeting. The Board also assessed the quality, quantity and timeliness of flow of information between the Company Management and the Board that is necessary for the Board to effectively and reasonably perform their duties. The above evaluations were then discussed in the Board Meeting and performance evaluation of Independent directors were done by the entire Board, excluding the Independent Director being evaluated.

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.

DEMATERIALISATION OF EQUITY SHARES:

As per direction of the SEBI and National Stock Exchange Limited, the shares of the Public Company must be under compulsory Demat form. The Company has established connectivity with both the Depositories i.e. National Securities Depository Limited and Central Depository Services (India) limited and the Demat activation number allotted to the Company is: INE0YHV01011. Presently all the shares of the company i.e. 100% shares are held in electronic mode.

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 or the same were not applicable to the Company during the year under review:

1. No application has been made or no proceeding is pending under the Insolvency and Bankruptcy Code, 2016 during the period under review.

2. There is no difference between the 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, if any during period under review.

DISPATCH OF ANNUAL REPORT THROUGH ELECTRONIC MODE:

In compliance with various MCA Circulars and SEBI Circulars, notice of the AGM along with the Annual Report 2024-25 is being sent only through electronic mode to those members whose email addresses are registered with the Company/RTA/Depositories. Members may note that the Notice and Annual Report 2024-25 will also be available on the Companys website at https://www.obscperfection.com/ website of the Stock Exchange, i.e., NSE Limited at www.nseindia.com and on the website of the Companys Registrar and Transfer Agent, Bigshare Services Private Limited at https: //www.bigshareonline.com / .

PARTICULARS OF LOANS AND INVESTMENT:

The Company has not made any Investment, given guarantee and securities during the financial year under review. Therefore the provisions of section 186 of Companies Act, 2013 are not applicable to the Company.

APPRECIATIONS AND ACKNOWLEDGEMENT:

Your Directors wish to place on record their sincere appreciation for significant contributions made by the employees at all levels through their dedication, hard work and commitment, enabling the Company to achieve good performance during the year under review.

Your Directors also take this opportunity to place on record the valuable co-operation and support extended by the banks, government, business associates and the shareholders for their continued confidence reposed in the Company and look forward to having the same support in all future endeavor.

	By order of the Board of Directors
	OBSC PERFECTION LIMITED
	(Formerly known as OBSC Perfection Private Limited)
	Sd/-	Sd/-
	ASHA NARANG	SAKSHAM LEEKHA
Place: Delhi	Chairperson and Non-Executive Director	Managing Director
Date: 29.08.2025	DIN:00296714	DIN:07389575