Panther Industrial Products Ltd Directors Report

Dear Members,

PANTHER INDUSTRIAL PRODUCTS LIMITED

Address- 121 Radha Bhuvan 1^st Floor Nagindas Master Road, Mumbai, Maharashtra, India -400 001

The Directors have pleasure in presenting before you the 37^th Annual Report on the business and operations of the Company along-with the audited Balance Sheet and Statement of Profit & Loss for the financial year ended on 31^st March, 2025.

FINANCIAL RESULTS

Particulars	Year Ended 31st March, 2025	Year Ended 31st March, 2024
Revenue from Operations	-	-
Income	19,87,536	72,72,014
Other Income	30,339	-
Total Income	20,17,875	72,72,014
Cost of Materia! Consumed	-	-
Personal Expenses	-	-
Administration Expenses	-	-
Financial Expenses	-	-
Depreciation Expense	1,65,820	1,34,222
Other Expenses	64,28,614 1	55,59,533
Total expenses	65,94,434	56,93,755
Profit (+)/Loss (-) before tax	(45,76,559)	15,78,259
Less: Current Tax	-	6,12,100
Deferred Tax Asset		-
Deferred Tax Liability	-	-
Profit (Loss) of the year	(45,76,559)	9,66,159

DIVIDEND

With a view to conserve resources, no dividend is recommended.

TRANSFER OF GENERAL RESERVE

During the year under review, no amount was proposed to be transferred to the reserve.

NUMBER OF MEETINGS OF THE BOARD

Total Eleven Board Meeting was held during the Financial Year ended on March 31^s. 2025 with given below details:

1^st June, 2024 15^th June, 2024 18^th June, 2024 01^st August, 2024 13^th August, 2024 15^th October, 2024 06^th November, 2024 13^lh November, 2024 25” November, 2024 17^th January, 2025 07^th February, 2025

MANAGEMENT OF THE COMPANY

The following persons continue to be the Director and KMPs of the Company:

2 c	Name of Directors / KMP	DIN / PAN S Membership Number	Designation
1,	Kaushik Chhotala! Shah	00009510	Managing Director
2.	Priyanka Garg	10427175	Additional Director
3.	Raju Kumar Mishra	10669475	Additional Director
4.	Abhijit Yashwant Kadam	06756295	Whole-time director and CFO
5.	Pooja Jain	A43404	Company Secretary

*During the period under review following person has been appointed or resigned from the post of Directors / KMPs are:

1. Abhijit Yashwant Kadam appointed as CFO of the company w.e.f 01^st June, 2024

2. Pooja Jain appointed as Company Secretary of the company w.e.f 01^st June, 2024

3. Raju Kumar Mishra appointed as Additional Director of the company w.e.f 15^th June, 2024

4. Priyanka Garg appointed as Additional Director of the company w .e.f 01^st June, 2024

REGISTERED OFFICE ADDRESS OF THE COMPANY:

During the year under review the company held EGM on 18^th day of March, 2025 to shift the registered office from 121 Radha Bhuvan U Floor Nagindas Master Road, Mumbai, Maharashtra, India - 400 001 to 1^st Floor, Mohan Nagar, Thatipur, Gwalior, Madhya Pradesh, India - 474 Oil.

MANAGEMENT VISION

During the year under review, the Company has earned a loss of Rs. (45,76,559)/-. However, is constantly working on the future plans for further improving the same.

SHARE CAPITAL

There is no change in the Authorized and Paid-Up Equity Share Capital of the company during the year.

The Authorized Equity Share Capital of the Company is,Rs. 2,00,00,000/- (Rupees Two Crore Only) divided into 19,50,000 (Nineteen Lakh Fifty Thousand) Equity Shares of Rs.10/- (Rupees Ten) each and 50,000 (Fifty Thousand) 12% Redeemable Preference Shares of Rs. 10/-(Rupees Ten) each

The Paid-Up Share Capital of the Company is Rs, 1,40,00,970/- (Rupees One Crore Forty Lakh Nine Hundred Seventy Only) divided into 14,00,007 (Fourteen Lakh Seven Only) Equity Shares of Rs.10/- (Rupees Ten) each and 90 (Ninety) 12% Redeemable Preference Shares of Rs. 10/-(Rupees Ten) each

PUBLIC DEPOSITS

The Company has neither invited nor accepted any deposit from the public during the period under review.

PARTICULARS OF LOAN, GUARANTEE OR INVESTMENTS UNDER SECTION 186

The Company has not made any investments, given guarantees, or provided securities during the financial year under review and the company has complied with the provisions of Section 186 of the Companies Act, 2013 and details of the same has given in the Financial Statements.

MATERIAL CHANGES AND COMMITMENTS

No Material Changes and Commitments affecting the financial position of the company occurred between the end of the financial year to which this financial statement relates and the date of this report.

PARTICULARS OF CONTRACT OR ARRANGEMENT WITH RELATED PARTIES

The Company has not entered into any contract or arrangement with related party and therefore section 188 of the Companies Act, 2013 has not applicable on the Company.

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

The Provisions of section 134 (3) (m) of the Companies Act, 2013 read with Rule 8 of the Companies (Account) Rules, 2014 regarding Conservation of Energy and Technology Absorption do not apply to your company as tire operation of your Company are not energy-intensive. However, the management has taken all the adequate steps to reduce energy consumption by using energy-efficient equipment incorporating the latest technology.

FORIGEN EXCHANGE EARNINGS AND OUTGO

Foreign Exchange earnings: During the Financial Year, no Revenue from Export was generated and Foreign Exchange outgo is also Nil

STATUTORY AUDITORS

M/s Rajesh H. Gupta & Co, Chartered Accountants, (having their Firm Registration No. 133884W) has conducted the Statutory Audit of the Company for the Financial Year 2024-25. they have been appointment owing to the casual vacancy caused by the resignation of the previous auditors of the Company. Their appointment has been proposed at the forthcoming Annual General Meeting for next Five (5) years.

The Board has recommended the name M/s Rajesh H. Gupta & Co, Chartered Accountants, as the Statutory Auditors of the Company to hold office from the conclusion of this Annual general meeting till the conclusion of the Annual Genera) Meeting to be held in the year of 2030 on such remuneration and out of pocket expenses as may be decided with the auditor and approved by the Members of the company.

M/s Rajesh H. Gupta & Co, Chartered Accountants, the Auditor, has confirmed that their appointment will be within the provisions of Section 139, 141, 142 and other applicable provisions of the Companies Act, 2013 and has indicated their willingness to continue as Auditor of the Company.

SECRETARIAL AUDITOR

M/s Lalit Singhal & Associates Company Secretaiy in practice,being appointed as a Secretarial Auditor of the Company for the consecutive term of five years for the Financial year 2025-26 to 2029- 30

CORPORATE GOVERNANCE

Since the Paid-Up Capital of the company is less then Rs, 10,00,00,000/- and Net worth not exceeding Rs. 25,00.00,000/- therefore separate section on Corporate Governance practices followed by the Company as stipulated under Regulation 15(2) and Schedule V of the SEBI Regulations are Not applicable to the company. However, as measure of good corporate governance practice, the company has voluntarily initiated to the extent possible, considering constitutions ot Board and activities of the Company, steps towards the compliance of the same.

AUDITORS REPORT

The Auditors report is self-explanatory. There were no observations / qualifications made by the Auditors in the Audit Report.

PERFORMANCE EVALUATION OF THE BOARD

In previous couple of years due to tight competition the scope of the main business is reducing and company is rinding very difficult to run the business as mentioned in main object of the company, so its trying to evaluate and working out for opportunity in the field of consultancy services in financial sectors. Simultaneously, company will try to look out for its feasibility of its main business and meantime the consultancy services business expands the company will make the necessary changes in its main object thereafter.

In compliance with the provisions of the Companies Act, 2013 and Regulation 25(4)(a) of the SEBI Regulation, annual performance evaluation of the Board and its Directors individually was carried out. Various parameters such as the Boards functioning, composition of its Board and Committees, execution and performance of specific duties, obligations and governance were considered for evaluation.

The performance evaluation of the Board as a whole was carried out by the Independent Directors. The performance evaluation of each Independent Director was also carried out by the Board.

The Board of Directors expressed their satisfaction with the evaluation process.

CORPORATE SOCIAL RESPONSIBILITY (CSRi

Since the Company do not fall under any criteria specified in sub-section (1) of section 135 of the Companies Act, 2013, it is not required to constitute a Corporate Social Responsibility (“CSR”) Committee.

INDIAN ACCOUNTING STANDARD and AS)

The Indian Accounting Standards (Ind AS) were notified by the Ministry of Corporate Affairs on February 16, 2015. These standards will become applicable to the Company, its subsidiaries and associates with effect from April 1, 2016. Your Company has taken adequate steps, in this regard to ensure a smooth transition to Ind AS.

MANAGEMENT PERCEPTION TO AUDITORS QUALIFICATION

The observations made by the auditors in their report in respect of the Internal Audit System and others, read together with the notes on accounts are self-explanatory and do not call for the further explanation, however the following be noted as further clarification:

Note B (17) in the Significant Accounting Policies and Notes on Accounts (Notes A & B) to the balance sheet

(a) Reference is invited in significant Accounting Policies and Notes on Accounts to the balance sheet and statement of profit and loss regarding Trade receivable by the management Rs. 8,47,69,870/- Though the company is confident of recovery, in view of huge losses and uncertainty in the business operations and hence the management has not made any provision for the same.

The unsecured interest free loan granted by the Company to companies under the same management with understanding that the same has been granted for temporary period and recoverable on demand, hence the same is not prejudicial to the interest of the Company.

PARTICULARS OF EMPLOYESS

There are no such employees whose statement of particulars is required to be given pursuant to the Companies (Appointment and Remuneration of Managerial Personnel) Rule, 2014.

REMUNERATION POLICY FOR THE DIRECTORS, KEY MANAGERIAL PERSONNEL AND OTHER EMPLOYEES

In terms of the provisions of Section 178(3) of the Act, the Nomination & Remuneration Committee is responsible for formulating the criteria for determining qualification, positive attributes and independence of a Director. The Nomination & Remuneration Committee is also responsible for recommending to the Board a policy relating to the remuneration of the Directors, Key Managerial Personnel and other employees. In line with this requirement, the Board has approved that all the provisions of remuneration policy of the company related with criteria for remuneration, determining qualifications, positive attributes and independence of a director will be mutatis and mutandis applicable on our company

RISK MANAGEMENT

The Company has developed and implemented a risk management policy which identifies major risks which may threaten the existence of the Company. The same has also been adopted by Your Board and is also subject to its review from time to time. Risk mitigation process and measures have been also formulated and clearly spelled out in the said policy.

PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

The Company is committed to provide a safe and conducive work environment to its employees. The Company adopted Prevention of Sexual Harassment at Workplace Policy in the meeting of Board of Directors,

The Directors further state that during the year under review, there were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

SUBSIDIARY / JOINT VENTURES / ASSOCIATE COMPANIES AND THEIR PERFORMANCE

Company does not have any Subsidiary / Joint Venture and Associates of the Company.

LISTING OF THE COMPANYS EQUITY SHARES

Die equity shares of your Company are listed on The BSE Ltd.; due to regulatory reason trading in equity shares of the company is restricted. During the year under review the company gets relisted on 09* December, 2024

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134(3) (c) of the Companies Act, 2013, with respect to Directors Responsibility Statement, the Directors confirm that:

1) In the preparation of annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures.

2) 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 and loss of the company for that period.

3) 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.

4) They have prepared the annual accounts on a going concern basis.

5) They have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively to the best of their knowledge and ability; and

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

ACKNOWLEDGEMENTS

The Directors thank all the clients, customers, vendors, investors and bankers for their continued support of your Companys growth. The Directors place on record their appreciation of the contribution made by the employees at all levels, who, through their competence, hard work, dedication, and team work have enabled the Company to accelerate its growth

By Order of the Board

For PANTHER INDUSTRIAL PRODUCTS LIMITED

Date: 06/09/2025

Place: Maharashtra