Riddhi Corporate Services Ltd Directors Report

To, The Members,

Riddhi Corporate Services Limited,

Your Directors have pleasure in presenting the 16 th Annual Report together with the Audited accounts of the Company for the financial year ended on March 31, 2026.

FINANCIAL RESULTS:

PARTICULARS	FOR THE YEAR ENDED ON 31ST MARCH, 2025	FOR THE YEAR ENDED ON 31ST MARCH, 2024
Net Total Income	52,288.19	26,693.96
Less: Operating and Admin. Exps.	49,808.1	23,291.87
Profit before depreciation and Taxes	2,480.09	3,402.09
Less: Depreciation	1,296.19	1,854.60
Less: Extraordinary/Exceptional Items	66.17	6.93
Profit before Tax (PBT)	1117.73	1547.49
Less: Taxes (including deferred tax and fringe benefit tax)	288.79	193.08
Adjustment for other Extra-ordinary items	-	-6.93
Profit after Tax (PAT)	828.94	1347.46
Surplus Carried to Balance Sheet	-	-
Earnings Per Equity Share
Basic	6.99	11.35
Diluted	6.99	11.35

HIGHLIGHTS OF PERFORMANCE:

The company has posted a positive growth in turnover for the year under review as compared to previous year i.e.2024-2025. The total revenue of the Company has increased from Rs. 2,66,93,93,028/- to 522,88,19,109 /-.

DIVIDEND :

During the Period under review the board of directors of company has recommended a Final dividend of Rs. 0.49/- per Equity Share of Rs.10/- each.

PUBLIC DEPOSITS:

Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

RESERVES:

The Company has not transferred any amount to General Reserve / Capital Redemption Reserve during the Period under review.

BOARD MEETINGS HELD DURING THE YEAR:

SR DATE ON WHICH BOARD MEETINGS NO. WERE HELD	TOTAL STRENGTH OF THE BOARD	NO OF DIRECTORS PRESENT
1 22-04-2025	06	05
2 30-05-2025	06	05
3 13-08-2025	06	05
4 06-09-2025	06	06
5 14-11-2025	07	06
6 26-11-2025	08	07
7 02-02-2026	08	07
8 14-02-2026	08	07
9 26-02-2026	08	07

ATTENDANCE OF DIRECTORS AT BOARD MEETINGS:

SR NO. NAME OF DIRECTORS	NO. OF MEETING HELD	NO. OF MEETING ATTENDED
1 ALPITKUMAR P. GOR	07	07
2 PRAVINCHANDRA K. GOR	07	07
3 UMESH ARVINDBHAI BHADRESWARA	0	7
4 BHAVIN KIRITKUMAR PANDYA	07	07
5 KALPANABEN DIPAKBHAI SUTHAR	07	0
6 JASHUBHAI M PATEL	07	07
7 NEHAL YASHVANT KARGATIA	0	5
8 KALPESH CHANDRAKISHORE SHUKLA	04	04

DEPOSITORY SYSTEM:

All the Shareholding of the company is in Dematerialized form only.

SUBSIDIARY/ JOINT VENTURE/ ASSOCIATE COMPANY:

Company does not have any Subsidiary / Associate / Joint Venture Company as on 31 st March, 2025.

CORPORATE GOVERNANCE:

Pursuant to the provisions of Regulation 34(3) read with Schedule V(C) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), the Report on Corporate Governance is annexed hereto and forms part of this Report. Your Company is committed to transparency in all its dealings and places high emphasis on business ethics. The requisite Compliance Certificate as required under Part E of Schedule V of the Listing Regulations, issued by Mr. Amrish N. Gandhi (C P No. 5656), proprietor of M/s. Amrish

Gandhi & Associates, Practising Company Secretaries, Ahmedabad pertaining to the compliance of the conditions of Corporate Governance, is also annexed herewith as Annexure - D.

EXTRACT OF ANNUAL RETURN AS PER SECTION 92 (3) OF COMPANIES ACT 2013:

The Annual Return in form MGT-9 as per section 92(3) will be available at the Website of the company - https://riddhicorporate.co.in/

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

In terms of Section 152 of the Companies Act, 2013, Mr. UMESH ARVINDBHAI BHADRESWARA (DIN: 07582046) is liable to retire by rotation at forthcoming AGM and being eligible offers himself for re-appointment.

The Company has appointed Mr. Nehal Y Kargatia as CEO and Director w.e.f 13-08-2025 and appointed Mr. Kalpesh Chandrakishore Shukla as Independent director w.e.f 14-11-2025

The Company has received necessary declaration from each independent director under Section 149(7) of the Companies Act, 2013, that he/she meets the criteria of independence laid down in Section 149(6) of the Companies Act, 2013.

All the directors of the Company have confirmed that they are not disqualified from being appointed as directors in terms of Section 164 of the Companies Act, 2013.

CHANGES IN THE DIRECTORSHIP OF THE COMPANY:

The Company has appointed Mr. Nehal Y Kargatia as CEO and Director w.e.f 13-08-2025 and appointed Mr. Kalpesh Chandrakishore Shukla as Independent director w.e.f 14-11-2025.

MATTERS AS PRESCRIBED UNDER SUB-SECTIONS (1) AND (3) OF SECTION 178 OF

THE COMPANIES ACT, 2013:

The policy of the Company on directors appointment and remuneration, including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under Sub section (3) of Section 178 of the Companies Act, 2013. We affirm that the remuneration paid to the directors is as per the terms laid out in the nomination and remuneration policy of the Company.

BOARD EVALUATION:

Pursuant to the provisions of the Companies Act, 2013, the Board has carried out an annual evaluation of its own performance, the directors individually, as well as the evaluation of the working of its Committees. At the meeting of the Board all the relevant factors that are material for evaluating the performance of individual Directors, the Board and its various committees were discussed in detail. A structured questionnaire each for evaluation of the Board, its various Committees and individual Directors was prepared and recommended to the Board by Nomination & Remuneration Committee for doing the required evaluation after taking into consideration the input received from the Directors covering various aspects of the Boards functioning such as adequacy of the composition of the Board and its Committees, execution and performance of specific duties, obligations and governance etc.

AUDITORS:

STATUTORY AUDITORS:

M/s Nitin K Shah & Co.., Chartered Accountants, (Firm Registration No. 121394W), the Statutory Auditors of the Company, has resigned from the company w.e.f 21 th April 2026 and company has appoint M/S APARAJITA V. SHAH & CO (162222W) w.e.f 28 th of April 2026.

The Statutory Auditors report for the financial year ended March, 2026 is attached to this report.

No Qualification or Adverse Remarks made in Statutory Report by Statutory auditors for the financial year 2025-2026.

SECRETARIAL AUDITORS:

Your directors have appointed Amrish Gandhi & Associates, Company Secretary , 504, Shivalik Abaise, Opp. Shell Petrol Pump, Anandnagar Road, Satellite, Ahmedabad-380015, as secretarial auditors for the financial year 2025-26.

The Secretarial Audit Report for the Financial Year ended March, 2026 is attached to this report as Annexure-B.

COST AUDITORS

Provision for appointment of Cost Auditor is not applicable to your company.

INTERNAL FINANCIAL CONTROL SYSTEM AND THEIR ADEQUACY:

Your Company has established effective internal control systems to ensure accurate, reliable and timely compilation of financial statements, to safeguard assets of your Company and to detect and mitigate irregularities and frauds. Your Companys management has established adequate internal control procedures over financial reporting.

In accordance with the requirements of Section 143(3)(i) of the Act, the Statutory Auditors have confirmed the adequacy and operating effectiveness of the internal financial control systems over financial reporting.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186: Details of Loans, Guarantees and Investments under the provisions of Section 186 of the Companies Act, 2013 are given in the Financial Statement of the company .

AUDIT COMMITTEE:

Audit Committee comprises of three members and all members are Independent Directors. All transactions with related parties are on an arms length basis. During the year, there are no instances where the Board had not accepted the recommendations of the Audit Committee.

The composition of the Audit Committee of the Board of Directors of the Company mentioned below:

NAME OF DIRECTORS	DESIGNATION	NATURE OF DIRECTORSHIP
BHAVIN KIRITKUMAR PANDYA	Chairman	Independent Director
JASHUBHAI PATEL	Member	Independent Director
KALPANA D SUTHAR	Member	Independent Director

NOMINATION AND REMUNERATION COMMITTEE:

Nomination and Remuneration Committee comprises of three members of which three, including the Chairman of the Committee, are Independent Directors.

The composition of the Nomination and Remuneration Committee of the Board of Directors of the Company is mentioned below:

NAME OF DIRECTORS	DESIGNATION	NATURE OF DIRECTORSHIP
BHAVIN KIRITKUMAR PANDYA	Chairman	Independent Director
JASHUBHAI PATEL	Member	Independent Director
KALPANA D SUTHAR	Member	Independent Director

STAKEHOLDER RELATIONSHIP COMMITTEE:

Stakeholder Relationship Committee comprises of three members of which three including the Chairman of the Committee, are Independent Directors.

The composition of the Stakeholder Relationship Committee of the Board of Directors of the Company is mentioned below:

NAME OF DIRECTORS	DESIGNATION	NATURE OF DIRECTORSHIP
BHAVIN KIRITKUMAR PANDYA	Chairman	Independent Director
JASHUBHAI PATEL	Member	Independent Director
KALPANA D SUTHAR	Member	Independent Director

RELATED PARTY TRANSACTIONS:

All the related party transactions entered into during the financial year were on an arms length basis and were in the ordinary course of business. Accordingly, the disclosure of related party transactions as required under Section 134(3) (h) of the Companies Act, 2013 in Form AOC-2 which is attached with this report as Annexure-A .

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS: There are no significant material orders passed by the Regulators / Courts which would impact the going concern status of the Company and its future operations.

MATERIAL CHANGES:

No material changes and commitments 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.

CHANGES IN CAPITAL STRUCTURE OF THE COMPANY:

During the Period under review, there is no change in Capital Structure of the Company.

EMPLOYEE STOCK OPTION:

The Company has not issued any shares during the financial year under the Employee Stock Option Scheme.

CASH FLOW ANALYSIS:

The Cash Flow Statement for the year under reference forms part of the Annual Report under Independent Auditor Report.

CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY

ABSORPOTION, FOREIGN EXCHANGE EARNINGS AND OUTGO: A) CONSERVATION OF ENERGY:

The clause is not applicable.

B) TECHNOLOGY ABSORPTION:

Your company has not made any efforts towards technology absorption and neither imported any technology nor made any expenditure on research and developments.

C) FOREIGN EXCHANGE EARNINGS AND OUTGO:

Foreign Exchange inflow (Rs.): NIL Foreign Exchange outflow (Rs.): NIL

MANAGEMENT DISCUSSION AND ANALYSIS:

ECONOMIC SCENARIO:

The global economy navigated a complex and rapidly evolving operating environment during FY 2 0 2 5 26. Following a prolonged period of economic and geopolitical disruptions, global growth remained resilient, albeit below its long-term potential. The global economic landscape was increasingly influenced by shifts in government policies, changing trade relationships, persistent geopolitical uncertainties and evolving monetary conditions.

A significant development during the year was the escalation of trade policy measures, particularly the imposition of higher tariffs by the United States and the corresponding measures adopted by several of its trading partners. The broad-based tariff measures announced during 2025 resulted in a substantial increase in effective tariff rates and represented a significant shift in the global trade environment. Beyond their direct impact on international trade and supply chains, heightened trade policy uncertainty affected business confidence, investment decisions and the outlook for global economic activity.

At the same time, easing inflationary pressures in several major economies provided some support to household purchasing power a nd economic a ctivity. Emerging markets continued to demonstrate relative resilience, supported by domestic demand, structural reforms and increasing investments in infrastructure and digitalisation. However, the global outlook remained subject to significant downside risks arising from trade tensions, geopolitical developments, financial market volatility and the possibility of renewed inflationary pressures. The International Monetary Fund (IMF) estimated global economic growth at approximately 2.8% in calendar year 2 025 , with growth projected to improve marginally to around 3.0% in 2026 . The outlook continues to be shaped by the interaction between trade policies, inflation trends, interest rates, investment activity and consumer demand.

INDUSTRY REVIEW:

India continued to remain one of the fastest-growing major economies and a key bright spot in the global economic landscape during FY 2025 26. Despite external headwinds arising from geopolitical tensions, trade policy uncertainties and volatility in global markets, the Indian economy demonstrated considerable resilience, supported by strong domestic fundamentals.

India recorded GDP growth of approximately 6.5% in FY 2024 25, following robust growth of approximately 8 . 2 % in FY 2 0 2 3 24. While the pace of expansion moderated from the exceptionally strong levels witnessed in the preceding year, economic activity remained broad-based and supported by domestic consumption, infrastructure expenditure, manufacturing activity and services.

The Governments continued emphasis on infrastructure development, manufacturing, logistics, digital transformation and policy-led economic reforms has strengthened the foundations for sustainable medium- to long-term growth. Public capital expenditure and investments in roads, railways, ports, power, urban infrastructure and digital infrastructure continued to create opportunities across multiple sectors of the economy.

The Indian economy is expected to maintain its growth momentum in the medium term. According to available international forecasts, Indias growth is expected to remain in the range of approximately 6 7% during the coming years, positioning the country favourably among major global economies.

However, risks remain, including fluctuations in commodity prices, global trade disruptions, geopolitical tensions, external demand conditions, currency movements and volatility in global financial markets. Indias relatively strong domestic demand, diversified economic base, policy support and improving infrastructure are expected to provide resilience against these external challenges.

REVIEW AND FUTURE OUTLOOK OF THE COMPANY:

The Company is continuously trying to accomplish the desired results. Steps have been taken for cost diminution and quality of work by the Company. The Company will achieve more turnover by various marketing strategies, offering more quality products, launching new products and services etc. in coming years followed by increase in profit margin by way of various cost cutting techniques and optimum utilization of various resources of the Company.

INTERNAL CONTROL SYSTEM:

The Company has proper and adequate system of internal control, commensurate with the size and nature of its business. Regular Internal Audits and Checks carried out a nd a lso management reviews the internal control system and procedures to ensure orderly and efficient conduct of business and to ensure that all assets are safeguarded and protected against loss from unauthorized use or disposition and that transactions are authorized, recorded and reported correctly. The Company has well defined internal control system. The Company takes abundant care to design, review and monitor the working of internal control system. Internal audit in the organization is an independent appraisal activity and it measures the efficiency, adequacy and effectiveness of other controls in the organization. The Audit Committee, comprising Independent Directors, regularly reviews audit plans, significant audit findings, adequacy of internal controls, and compliance with Accounting Standards, among others.

HUMAN RESOURCES:

The Company believes that its people are its most important asset and thus continuously strives to scale up its employee engagement through well structured systems and a visionary HR philosophy. The Company continues to lays emphasis on building and sustaining the excellent organization climate based on human performance. Performance management is the key word for the Company. Pursuit of proactive policies for industrial relations has resulted in a peaceful and harmonious situation in the Company. We a re highly focused on developing our employees to perform with the same excellence for the challenges a nd huge business opportunities that are envisaged in future. The Company firmly believes that intellectual capital and human resources is the backbone of the Companys success.

CAUTIONARY STATEMENT:

Statement in the Management Discussion and Analysis describing Companys objectives, projections, estimates, expectation may be forward-looking statements within the meaning of applicable securities laws and regulations. Actual result could differ materially from those expressed or implied. Important factors that could make a difference to the Companys operation include economic conditions affecting demand/supply and price conditions in the Government regulations, tax laws and other status and other incidental factors. Further, the discussion following herein reflects the perceptions on major issues as on date and the opinion expressed here are subject to change without notice. The Company undertakes no obligations to publicly update or revise any of the opinions of forward looking statements expressed in this report, consequent to new information future events, or otherwise.

RISK MANAGEMENT:

The Board of Directors have developed & implemented a robust risk management policy which identifies the key elements of risks that threatens the existence of the Company. The Audit Committee reviews the Companys financial and risk management policies and steps taken by the Company to mitigate such risks.

CORPORATE SOCIAL RESPONSIBILITY:

The Corporate Social Responsibility is applicable to the Company during the period under review and your company and its board has contributes as follows.

Sr. No Name of Organisation	Amount Spent towards CSR	Remarks, if any
1. SHREE JALIYAN ANNAKSHETRA	2 0.00 Lacs	\u201c eradicating hunger through organized community food service\u201d
2. GREEN HELPING FOUNDATION TRUST	5.00 Lacs	\u201c Vocational Training programme and Educational programme \u201d

PREVENTION OF SEXUAL HARASSMENT POLICY:

The Company has in place Prevention of Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013. All employees (permanent, contractual, temporary, trainees) are covered under this policy. Your Directors state that during the year under review, there were no cases filed pursuant to the aforesaid Act.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, state the following: that in the preparation of the annual financial statements for the year ended March 31, 2026, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

that such accounting policies as mentioned in Notes to the Financial Statements have been selected and applied consistently and judgement 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 as at 31 st March, 2026 and of the profit of the Company for the year ended on that date;

that proper and sufficient care has 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;

That the annual financial statements have been prepared on a going concern basis.

That proper internal financial controls were in place and that the financial controls were adequate and were operating effectively.

That system to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively.

KEY MANAGERIAL PERSON:

Mr. Pravinchandra Gor, Chairman & Managing Director (C&MD), Mr. Alpit Pravinchandra Gor (Wholetime Director),Mr. Nehal Y Kargatia, Chief Executive Office (CEO), Mr. Hardik Bhavsar, Chief Financial Officer (CFO) and Mr. Mustafa Sibatra, Company Secretary Cum Compliance Officer (CS) are the Key Managerial Personnel of the Company.

ENVIRONMENT AND POLLUTION CONTROL:

The Company is well aware of its responsibility towards a better and clean environment. Our efforts in environment management go well beyond mere compliance with statutory requirements. The Company has always maintained harmony with nature by adopting eco-friendly technologies and upgrading the same from time to time incidental to its growth programmers.

VIGIL MECHANISM/WHISTLE BLOWER POLICY:

Your Company is committed to highest standards of ethical, moral and legal business conduct. Accordingly, the Board of Directors has formulated a Whistle Blower Policy which is in compliance with the provisions of Section 177(10) of the Companies Act, 2013. The company has adopted Whistle Blower Policy to deal with any instance of fraud and mismanagement. The employees of the company are free to report violations of any laws, rules, regulations and concerns about unethical conduct to the Audit Committee under this policy. The policy ensures that strict confidentiality is maintained whilst dealing with concerns a nd also that no discrimination with any person for a genuinely raised concern.

THE CHANGE IN NATURE OF BUSINESS:

There is no material changes in the company held during the year.

PARTICULARS OF EMPLOYEES:

A statement containing the names and other particulars of employees 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, 2 0 1 4 is a ppended a s Annexure C to this report.

EQUITY AND FUND RAISING:

No Fund raising activity take place during the year under review.

ACKNOWLEDGMENT:

Your Directors are grateful to the Central Government, the State Government, the Registrar of Companies, Gujarat, Securities and Exchange Board of India and other Regulatory Authorities, Bankers, Financial Institutions, Vendors and Customers for their continued support, cooperation and guidance. We would like to express our deep sense of appreciation for the hard work and efforts put in by the employees at all levels. We would like to thank our shareholders for their cooperation and assistance during the year under report.

By order of the Board of Directors
RIDDHI CORPORATE SERVICES LIMITED

Sd/-
PRAVINCHANDRA GOR
CHAIRMAN & MANAGING DIRECTOR
DIN: 03267951

Place: - AHMEDABAD
Date: - 05/09/2026
CIN:L74140GJ2010PLC062548