Rasandik Engineering Industries India Ltd Directors Report

To The Members,

Your Directors have pleasure in presenting the 41st Annual Report of your Company together with the Audited Statement of Accounts of the Company for the financial year ended March 31, 2025 and the Auditors Report thereon.

FINANCIAL RESULTS:

The summarized working results for the year ended March 31,2025 as compared to earlier year are as under:

(Rs. in millions)

PARTICULARS	2024-2025	2023-2024
Total Income	689.31	1,155.85
Profit Before Finance Cost,	49.18	228.60
Depreciation, Exceptional items and Taxation
Finance Cost	31.45	94.39
Depreciation	59.31	61.46
Exceptional Items - Gain/ (Loss)	(92.58)	6.29
Profit Before Tax	(134.15)	66.46
LESS:
Tax expense
Current tax	-	-
Deferred tax	(78.30)	(4.82)
Profit/Loss After Tax (Loss)	(55.85)	71.28
Other Comprehensive Income	(0.00)	0.84
Total comprehensive income for the year	(55.85)	72.12
Other Equity	894.41	947.20
Earning per Equity Share of Rs. 10/- each	(9.35)	11.93

OPERATING RESULTS AND THE STATE OF COMPANYS AFFAIRS

During the year under review, the total income of the Company for the financial year ended 31 st March, 2025 was Rs. 689.31 million, as compared to Rs. 1155.85 million in the previous financial year.

The loss before depreciation, finance cost, and taxation for the year stood at Rs. 49.18 million, marking a decrease from profit of Rs. 228.60 million in the previous year.

After accounting for depreciation, finance costs, and taxation, the company reported a net loss of Rs. 55.85 million for the current financial year, compared to a net profit of Rs. 72.12 million in the preceding year.

FUTURE OUTLOOK

The Company operates an Electric Auto (Electric Vehicle) manufacturing facility at its plant located in Surajpur, Greater Noida, Uttar Pradesh. This manufacturing unit is engaged in the production and supply of electric vehicles (EVs), primarily targeting the domestic Indian automotive market while also exploring opportunities in the export segment.

The Company has developed multiple models of electric three-wheelers (E-Autos) and is actively building its brand, "Samrat,” to strengthen its position as an Original Equipment Manufacturer (OEM). Going forward, the Companys strategic focus remains on the growth of its electric vehicle business, particularly in the Three-Wheeler (L-5) category, and on enhancing sales and market penetration in this emerging segment.

MATERIAL CHANGES AND COMMITMENT AFFECTING FINANCIAL POSITION OF THE COMPANY

There have been no material changes and commitments affecting the financial position of the Company which have occurred between the end of the financial year on March 31.2025, and the date of signing of this Report.

DIVIDEND

In view of the financial position of the Company, the Board of Directors has not recommended any dividend for the financial year 2024-2025.

SUBSIDIARIES AND JOINT VENTURES:

The Company does not have any subsidiary, associate company, or joint venture as on March 31,2025.

SHARE CAPITAL

There was no change in the Companys share capital during the year under review. The paid-up Equity Share Capital of the Company stood at Rs59.75 lakhs as on March

31.2025, comprising 59,75,000 equity shares of Rs10 each.

TRANSFER TO RESERVES

During the financial year 2024-2025, the Company has incurred a loss. Accordingly, no amount has been transferred to the General Reserve.

ANNUAL RETURN:

Pursuant to the provisions of Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies

(Management and Administration) Rules, 2014, the Annual Return of the Company for the financial year 2024-2025 is available on the Companys website and can be accessed at: www.rasandik.com/report.html.

NUMBER OF MEETINGS OF THE BOARD

During the year under review, four meetings of the Board of Directors and four meetings of the Audit Committee were convened and held. The details of these meetings, including the dates and attendance of Directors, are provided in the Corporate Governance Report, which forms part of this Annual Report. The maximum interval between any two consecutive Board meetings did not exceed 120 days, as prescribed under the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

Sr. No.	DATE OF BOARD MEETING
1	29-05-2024
2	14-08-2024
3	14-11-2024
4	11-02-2025

Details of the meetings and the attendance of the Directors are provided in the Corporate Governance Report, which forms part of this Annual Report.

SEPARATE MEETING OF INDEPENDENT DIRECTORS

A separate meeting of the Independent Directors of the Company was held on February 11, 2025. The meeting was attended by all Independent Directors, where they discussed matters pertaining to the Companys affairs, performance, and other relevant matters.

NUMBER OF MEETINGS OF COMMITTEES OF THE BOARD OF DIRECTORS

The Board has established various Committees in line with good corporate governance practices and as required by the provisions of the Companies Act, 2013. The details of meetings held during the year under review for the Committees are as follows:

1. Audit Committee

2. Stakeholders Relationship Committee

3. Nomination and Remuneration Committee

4. CSR Committee 36

A The respective meetings of these Committees were convened and held as per the prescribed requirements and timelines. The details of these meetings and the attendance of the members are provided in the Corporate Governance Report, which forms part of this Annual Report.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

a) Composition:

During the year under review, the Board of Directors of your esteemed Company remained duly constituted in compliance with the provisions of the Companies Act, 2013, read with SEBI (LODR) Regulations, 2015.

As of the latest, the Board consists of a total of four Directors, which includes:

• One Executive Director

• One Non-Executive Director

• Two Non-Executive Independent Directors

Each Director brings their expertise and experience to contribute to the governance and strategic direction of the Company.

b) Retirement by Rotation:

In accordance with the provisions of the Companies Act, 2013, Mrs. Deepika Kapoor, Director, who retires by rotation at the forthcoming Annual General Meeting, and being eligible, offers herself for re-appointment to the Board. Her profile details are provided in the accompanying Notice of the AGM.

c) Declaration by Independent Directors

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 Companies Act, 2013, and Regulation 16(1 )(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.

d) Familiarization Program for Independent Directors

The Company successfully completed the familiarization program for Independent Directors during the year 2024-2025. This program was designed to provide the Independent Directors with a thorough understanding of the Companys operations, business model, and the regulatory framework governing its activities.

e) Board Evaluation

In compliance with the provisions of the Companies Act, 2013, a structured questionnaire was prepared, considering various aspects of the Boards functioning, including the composition of the Board and its committees, culture, execution, performance of specific duties, obligations, and governance.

The Independent Directors, during their separate meeting held on February 11, 2025, evaluated the performance of the Board, the Chairperson, and the NonIndependent Directors. The results of the evaluation were satisfactory and indicated that the Boards functioning meets the Companys requirements.

Further, the Annual Performance Evaluation for the financial year 2024-2025 was also carried out by the Board, evaluating its own performance, the performance of the working Committees, and individual Directors through a peer evaluation process, excluding the Director being evaluated.

f) Key Managerial Personnel

The Company has appointed three Key Managerial Personnel (KMP) as per the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These include:

1. Sh. Rajiv Kapoor, Managing Director

2. Mr. Gautam Bhattacharya, Chief Financial Officer (CFO)

3. Mr. Pradeep Chandra Nayak, Company Secretary

These individuals shoulder responsibilities in their respective fields as envisaged under the applicable laws and regulations.

POLICY RELATING TO DIRECTORS:

On the recommendation of the Nomination & Remuneration Committee, the Board has framed a policy for the selection and appointment of Directors, Key Managerial Personnel (KMP), Senior Management, and their remuneration. This policy also specifies the criteria for the evaluation of their performance and the process to be followed. The detailed Nomination and Remuneration Policy is annexed as Annexure IV to this report. Additionally, the Nomination and Remuneration Policy is available on the Companys website at www.rasandik. com/report.html.

The policy framed by the Nomination & Remuneration Committee under Section 178(3) of the Companies Act, 2013 is as below:

Appointment Criteria and Qualifications

a) The Committee shall identify and ascertain the integrity, qualification, expertise and experience of the person for appointment as Director, KMP or at Senior Management level and recommend to the Board his / her appointment.

b) The Committee shall identify the extent to which the appointee is likely to contribute to the overall effectiveness of the Board, work constructively with the existing directors and enhance the efficiencies of the Company;

c) The Committee has discretion to decide whether qualification, expertise and experience possessed by a person are sufficient / satisfactory for the concerned position.

d) Remuneration to Directors

a) Remuneration to Whole-time / Executive / Managing Director:

The remuneration, compensation, commission, and other benefits to be paid to the Director/ Managing Director shall be governed in accordance with the provisions of the Companies Act, 2013, and the rules made thereunder, including any amendments thereto, or any other applicable enactments.

The Managing Director shall be eligible for monthly remuneration as may be approved by the shareholders, on the recommendation of the Nomination & Remuneration Committee. The 37 break-up of the pay scale, quantum of perquisites, and other terms of the remuneration package shall be decided and approved by the Board, based on the Committees recommendations, and shall be approved by the shareholders, wherever required.

In the event that the Company has no profits or its profits are inadequate in any financial year, the Company shall pay remuneration in accordance with the provisions of Schedule V of the Companies Act, 2013.

b) Remuneration to Non- Executive / Independent Director:

The Non-Executive / Independent Directors may receive remuneration, compensation, and commission in accordance with the provisions of the Companies Act, 2013, and the rules made thereunder, including any amendments thereto or any other applicable enactments.

The amount of sitting fees payable to the NonExecutive / Independent Directors shall be subject to the ceiling/limits prescribed under the Companies Act, 2013 and the relevant rules, including any amendments thereto.

The Independent Directors shall not be entitled to any stock options of the Company.

Evaluation: The Committee shall carry out the evaluation of the performance of every Director, Key Managerial Personnel (KMP), and Senior Management Personnel at regular intervals, typically on an annual basis.

Removal: The Committee may recommend the removal of a Director, KMP, or Senior Management Personnel to the Board, with reasons recorded in writing, subject to the provisions and compliance with the applicable provisions of the Companies Act, 201 3, and the relevant rules and regulations.

Retirement: The Director, Key Managerial Personnel (KMP), and Senior Management Personnel shall retire in accordance with the applicable provisions of the Companies Act, 2013 and the prevailing policy of the

A Company. The Board shall have the discretion to retain the Director, KMP, or Senior Management Personnel in the same position and with the same remuneration or otherwise, even after attaining the retirement age, if it is in the best interest of the Company.

PARTICULARS OF EMPLOYEES:

As per the provisions of Section 197(12) of the Companies Act, 2013, read with Rule 5(2) & (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended by the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016, none of the employees of the Company were drawing a remuneration exceeding Rs1,02,00,000/- per annum or Rs8,50,000/- per month during the year under review.

PARTICULARS W.R.T. RATIO OF REMUNERATION OF DIRECTORS AND KMP

In compliance with the provisions of Section 197 of the Companies Act, 2013, read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the required information regarding the ratio of remuneration of Directors, Key Managerial Personnel (KMP), and employees is provided in Annexure II, which forms part of this report.

During the year under review, there were no employees drawing remuneration specified under Section 197 of the Companies Act, 2013, read with the applicable rules.

AUDITOR AND AUDITORS REPORT:

a) Statutory Auditor:

The Members of the Company appointed M/s. V Sankar Aiyar & Co., Chartered Accountants, New Delhi, having Firm Registration No. 109208W, as the Statutory Auditors of the Company for a period of five years, commencing from the conclusion of the 38th Annual General Meeting (AGM).

Auditors Report

The notes to the financial statements, as referred to in the Auditors Report, are self-explanatory and do not require any further comments.

Reporting of fraud by the Auditor under Section 143(12) of the Companies Act, 2013

The Board of Directors states that M/s. V Sankar Aiyar & Co., Chartered Accountants, New Delhi, having Firm Registration No. 109208W, the Statutory Auditors, have not reported any instances of fraud involving any amount committed by the Company to the Central Government, nor to the Board of Directors or the Audit Committee of the Company.

b) Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s. Arun Gupta & Associates, Company Secretaries, New Delhi, to undertake the Secretarial Audit of the Company.

The Secretarial Audit Report forms part of this report as Annexure-C. The Secretarial Audit Report does not contain any qualifications, reservations, or adverse remarks.

The Board, at its meeting held on May 23, 2025, and on the recommendation of the Audit Committee, has appointed M/s. Arun Gupta & Associates, Company Secretaries, as the Secretarial Auditor for conducting the Secretarial Audit of the Company for a period of five years, covering the financial years from 01-042025 to 31-03-2030.

LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186

The Company has not granted any loans, provided any guarantees, or made any investments falling under the purview of Section 186 of the Companies Act, 2013, during the year under review.

RELATED PARTY TRANSACTIONS

All related party transactions entered into during the financial year were conducted on an arms length basis and in the ordinary course of business. There were no materially significant related party transactions with the Directors, Promoters, Key Managerial Personnel, or other designated persons that may have resulted in a potential conflict of interest with the Company.

Accordingly, the disclosure of Related Party Transactions, as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC-2, is not applicable. However, all related party transactions, as required under Indian Accounting Standards (AS-24), are disclosed in Note in the Notes to Accounts of the financial statements.

All related party transactions were duly placed before the Audit Committee and the Board for approval.

CORPORATE GOVERNANCE

The Company has complied with the provisions of Corporate Governance as stipulated under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, applicable for the financial year 2024-2025 based on the turnover of the Company. Therefore, the Report on Corporate Governance, as required under Regulation 33(1)

(e) read with Schedule IV of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is applicable and forms an integral part of this Report.

The Company is committed to maintaining the highest standards of Corporate Governance and adhering to the corporate governance requirements set forth by the Securities and Exchange Board of India (SEBI).

A certificate from the Chartered Accountant confirming compliance with the conditions of Corporate Governance is attached to the Report on Corporate Governance (Annexure I).

A detailed Report on Corporate Governance, prepared in substantial compliance with the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding the compliance of corporate governance conditions, is presented in a separate section, forming part of this Annual Report (Annexure B).

MANAGEMENT DISCUSSION & ANALYSIS REPORTS

In accordance with the provisions of Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Management Discussion and Analysis Report forms an integral part of this Annual Report.

The report provides a comprehensive overview of the Companys operations, industry structure, financial and 39 operational performance, risks and concerns, internal A

DIRECTORS REPORT (Contd.)

control systems, and key developments during the financial year 2024-2025. It also outlines future outlook and strategic initiatives undertaken by the Company to sustain growth and enhance stakeholder value.

DEPOSITS

During the financial year 2024-2025, the Company has neither accepted nor renewed any deposits in terms of Chapter V of the Companies Act, 2013. Furthermore, there was no outstanding amount of principal or interest in respect of any public deposits as on the date of the Balance Sheet.

INSURANCE

All the properties of the Company, including buildings, plant and machinery, and inventories, have been adequately insured to safeguard against potential risks and losses.

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

During the financial year 2024-2025, no significant or material orders were passed by any regulators, courts, or tribunals which would impact the going concern status of the Company or its future operations.

AUDIT COMMITTEE

The composition of Audit Committee of the Company as under:

S No	Name	Category	Position
1	Shri Abhay Kumar Khanna	Non-Executive - Independent Director	Chairman
2	Shri A. R. Halasyam	Non-Executive - Independent Director	Member
3	Shri Rajiv Kapoor	Executive - Chairman cum Managing Director	Member

The interval between the said meetings complied with the timelines prescribed under the Companies Act, 2013 and the relevant provisions of the SEBI (Listing Obligations and ⁴⁰ Disclosure Requirements) Regulations, 2015.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 134(5) of the Companies Act, 2013, the Board of Directors of the Company hereby states that:

a) In the preparation of the annual accounts for the financial year ended March 31, 2025, the applicable accounting standards have been followed and there are no material departures;

b) The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for that period;

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

d) The Directors have prepared the annual accounts on a going concern basis;

e) The Directors have laid down proper 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 are adequate and were operating effectively.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has established a Vigil Mechanism Policy to enable Directors and employees to report their genuine concerns regarding unethical behaviour, actual or suspected fraud, or violations of the Companys Code of Conduct or policies. This mechanism is in compliance with the provisions of the Companies Act, 2013.

The policy ensures adequate safeguards against victimization of Directors and employees who utilize this mechanism, and also provides for direct access to the Chairman of the Audit Committee in exceptional circumstances. To date, no whistleblowers have been denied access to the Audit Committee.

The Whistle Blower Policy is available on the Companys website at www.rasandik.com/report.html under the Investor Section.

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

The Company has implemented a policy on the Prevention of Sexual Harassment at Workplace in compliance with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013. The policy ensures protection against sexual harassment for women at the workplace and provides mechanisms for the prevention and redressal of complaints.

During the financial year 2024-2025, no complaints were received from any employee under this policy.

CORPORATE SOCIAL RESPONSIBILITY

In compliance with the provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, the Company has constituted a Corporate Social Responsibility Committee (CSR Committee). The terms of reference of the CSR Committee are provided in the Report on Corporate Governance (Annexure-III).

During the year under review, the Company ceased to be covered under subsection (1) of Section 135 of the Companies Act, 2013, due to incurring losses and failing to meet the other parameters required for CSR contributions as per the provisions of the Act. Therefore, the Statement on CSR activities is not applicable for the year. However, the CSR Committee has reviewed other compliance requirements, such as formulating and monitoring the CSR policy, in accordance with the legal provisions.

The CSR Policy of the Company is available on the Companys website at www.rasandik.com/report.html.

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

The particulars relating to conservation of energy, technology absorption, and foreign exchange earnings and outgo, as required to be disclosed pursuant to Section 134 of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014, form part of this report and are set out in Annexure - A to this report.

INTERNAL FINACIAL CONTROL SYATEMS AND THEIR ADEQUACY

The Company has established adequate internal financial control procedures that are commensurate with its size and nature of business operations. To ensure effectiveness, the Company has appointed professional Internal Auditors, comprising Chartered Accountants, who periodically assess the adequacy and effectiveness of the internal controls established by the management. Based on their audit observations and recommendations, appropriate follow-up actions and remedial measures are taken, including a review and enhancement of scope, where necessary.

The Audit Committee of the Board of Directors regularly reviews the internal audit plans, audit reports, and the overall adequacy of internal controls. As part of its proactive planning, the Board has also constituted the Audit Committee, which meets periodically to review the financial performance and the accuracy of financial records.

Management gives due consideration to the recommendations made by the Internal Auditors, Statutory Auditors, and the Audit Committee of the Board of Directors, and takes appropriate actions to ensure that internal control systems are continuously improved.

SECRETARIAL STANDARDS

During the financial year, your Company has complied with applicable Secretarial Standards issued by Institute of Company Secretaries of India.

STATUTORY DISCLOSURE:

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

a) There has been no change in the nature of the business of the Company.

b) In terms of the first proviso to Section 136 of the Companies Act, 2013, the Report and Accounts are being sent to all shareholders and are available on the Companys website.

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

d) There has been no issue of equity shares with differential rights as to dividend, voting, or otherwise.

Additionally, no significant or material orders were passed by any Regulators, Courts, or Tribunals that would impact the going concern status and future operations of the Company.

CFO CERTIFICATION

As required under Regulation 17(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Chief Financial Officer (CFO) of the Company has certified the accuracy of the Financial Statements and the adequacy of the Internal Control Systems for financial reporting for the year ended 31st March, 2025. The certificate is included as part of this Annual Report.

LISTING FEES

The Company has paid the Annual Listing fees to BSE Ltd. for the Financial Year 2024 - 2025.

CODE OF CONDUCT

The Board of Directors has approved a Code of Conduct applicable to all members of the Board and employees of the Company in the course of their day-to-day business 42 operations. The Company upholds a policy of "Zero

A Tolerance” towards bribery, corruption, and any form of unethical behaviour. Accordingly, the Board has issued directives to prevent and address such misconduct.

This Code, referred to as the "Code of Business Conduct”, also includes an appendix outlining specific standards and has been published on the Companys website at www. rasandik.com/report.html.

The Code defines the standard of ethical business practices expected from Directors and designated employees, particularly regarding integrity at the workplace, ethical business conduct, and transparent dealings with stakeholders. It provides illustrative examples and guidance on expected behavior in various scenarios, as well as the proper reporting structure for concerns or violations.

All Board Members and Senior Management Personnel have affirmed compliance with the Code during the year under review.

PREVENTION OF INSIDER TRADING:

The Company has adopted a Code of Conduct for Prevention of Insider Trading to regulate trading in its securities by Directors and designated employees. This Code is in line with the provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended. All Board Directors and the designated employees have confirmed compliance with the Code.

The Code mandates pre-clearance of trades in the Companys shares and strictly prohibits trading by Directors and designated employees while in possession of unpublished price sensitive information (UPSI). It also restricts trading during periods when the Trading Window is closed.

The Board of Directors is responsible for overseeing and ensuring effective implementation of the Code across the organization.

EMPLOYEES STOCK OPTION PLANS /SCHEMES

No Employee Stock Options were granted to the Directors or Employees of the Company during the year under review.

QUALITY SYSTEM

Your Company has been certified under the ISO/ TS 16949:2002 Quality Management System by AIB Vincotte Inter Belgium, demonstrating its commitment to maintaining high standards in automotive quality management. Additionally, the Company holds certification under ISO 14001 for its Environment Management System, awarded by the British International Standard (BIS), reflecting its adherence to environmental responsibility and sustainable practices.

TRANSFER TO INVESTORS EDUCATION AND POTECTION FUND

During the financial year under review, no amount was required to be transferred to the Investor Education and Protection Fund (IEPF) established by the Central Government, as there were no unclaimed dividends or other amounts lying with the Company for a period exceeding seven years, in accordance with the provisions of the Companies Act, 2013.

CAUTIONARY STATEMENT

Statements made in the Directors Report and the Management Discussion and Analysis, describing the Companys objectives, expectations, or predictions, may be considered forward-looking statements within the meaning of applicable securities laws and regulations.

Actual results may differ materially from those expressed or implied in such statements due to various risks and uncertainties. Key factors that may impact the Companys performance include, but are not limited to: domestic and global demand, capacity additions, changes in government policies, tax laws, and other economic, political, and regulatory developments that are material to the Companys operations.

ACKNOWLEDGEMENTS

The Board of Directors takes this opportunity to express its sincere gratitude to the Companys bankers, employees, shareholders, customers, and suppliers for their unwavering support, trust, and confidence in the management throughout the year.

The Company is especially thankful for the continued cooperation and support extended by its valued customers, including Maruti Suzuki India Ltd., Tata Motors Ltd., CNH, Mahindra, Ashok Leyland, and others.

Your directors look forward to receiving their continued trust, encouragement, and partnership in the years to come.

For and on Behalf of the Board of Rasandik Engineering Industries India Limited

Place: New Delhi	(RAJIV KAPOOR)
Date: May 23, 2025	CHAIRMAN AND MANAGING DIRECTOR