Riddhi Corporate Services Ltd Directors Report

To,

The Members,

Riddhi Corporate Services Limited,

Your Directors have pleasure in presenting the 15^th Annual Report together with the Audited accounts of the Company for the financial year ended on March 31, 2025.

FINANCIAL RESULTS:

PARTICULARS	FOR THE YEAR ENDED ON 31ST MARCH, 2025	FOR THE YEAR ENDED ON 31ST MARCH, 2024
Net Total Income	26693.96	17875.09
Less: Operating and Admin. Exps.	23291.87	15193.32
Profit before depreciation and Taxes	3402.09	2681.77
Less: Depreciation	1854.60	1926.64
Less: Extraordinary/Exceptional Items	6.93	-
Profit before Tax (PBT)	1547.49	755.13
Less: Taxes (including deferred tax and fringe benefit tax)	193.08	240.63
Adjustment for other Extra-ordinary items	-6.93	0
Profit after Tax (PAT)	1347.46	514.5
Surplus Carried to Balance Sheet	-	-
Earnings Per Equity Share
Basic	11.35	4.34
Diluted	11.35	4.34

J- HIGHLIGHTS OF PERFORMANCE:

The company has posted a positive growth in turnover for the year under review as compared to previous year i.e.2023-2024. The total revenue of the Company has increased from Rs. 178,75,09,251/- to 2669393028/-.

- 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 NO.	DATE ON WHICH BOARD MEETINGS WERE HELD	TOTAL STRENGTH OF THE BOARD	NO OF DIRECTORS PRESENT
1	30-05-2024	06	05
2	10-07-2024	06	05
3	14-08-2024	06	05
4	06-09-2024	06	06
5	14-11-2024	06	05
6	28-01-2024	06	05
7	14-02-2025	06	05

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	07	07
4 BHAVIN KIRITKUMAR PANDYA	07	07
5 KALPANABEN DIPAKBHAI SUTHAR	07	01
6 JASHUBHAI M PATEL	07	07

t- 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.

:f 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.

:f 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:

During the period under review there is no change in the Directorship of the Company.

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 Ravi Shah & Co., Chartered Accountants, (Firm Registration No. 121394W), the Statutory Auditors of the Company, has resigned from the company w.e.f 14^th November 2024 and company has appoint M/s Jain Kedia and Sharma (103920W) w.e.f 28^th of January 2025.

The Statutory Auditors report for the financial year ended March, 2025 is attached to this report.

No Qualification or Adverse Remarks made in Statutory Report by Statutory auditors for the financial year 2024-2025.

> 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 2024-25.

The Secretarial Audit Report for the Financial Year ended March, 2025 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

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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:

Following an unprecedented series of shocks in the preceding years, global growth was stable yet underwhelming through 2024. However, the landscape has changed as governments around the world reorder policy priorities. A series of new tariff measures by the United States and countermeasures by its trading partners have been announced and implemented, ending

up in near-universal United States tariffs on April 2, 2025 and bringing effective tariff rates to levels not seen in a century. This on its own is a major negative shock to growth. The unpredictability with which these measures have been unfolding also has a negative impact on global economic activity and the outlook.

India recorded a GDP growth of 6.5% in FY2025, lower than the 8.2% growth achieved in FY2024, according to IMF estimates. The nation stands out as a bright spot amid global economic challenges and geopolitical upheavals. Growth is being driven by rapid infrastructure development, a strong push for manufacturing, supportive policy reforms, and resilient consumer confidence. Looking ahead, the Indian economy is expected to grow at 6.6% in FY2026 and 6.7% in FY2027, according to forecasts by the United Nations (UN). Continued investments in infrastructure development and digital transformation, favorable monsoon, higher rural consumption, and easing inflation will accelerate growth.

The IMF projects global GDP growth at 2.8% in CY 2025 and 3% in CY 2026, supported by easing inflation and sustained demand in emerging markets. Intensifying downside risks dominate the outlook. Ratcheting up a trade war, along with even more elevated trade policy uncertainty, could further reduce near- and long-term growth, erode policy buffers and weaken resilience to future shocks.

> INDUSTRY REVIEW:

The World Bank has reaffirmed Indias growing stature in the logistics sector, with the country climbing to 38th place out of 139 nations in its 2023 Logistics Performance Index (LPI). This is a notable improvement of six places since the last ranking in 2018. The steep climb in rankings reinforces the governments commitment to modernize and streamline Indias logistics sector. India aspires to be among the worlds top 25 logistics performers by 2030, aiming to bring logistics costs below 10% of GDP.

The Inland Waterways Authority of India (IWAI) recently reported a record cargo movement of 145.5 million tonnes in the year 2024-25. This landmark achievement was driven largely by ongoing investments and robust government policies. The number of operational national waterways has also increased from 24 to 29 during the same period.

The Government is fully committed to building a smart, technology-driven logistics system that ensures more seamless movement of goods. Logistics is more than just transportation. Its about moving the nation forward, connecting aspirations with opportunities. With rising consumer demand, there is a significant opportunity to strengthen this sector. A strong logistics network creates more jobs and supports balanced growth across the country. It will also play a key role in helping India become a USD 5 trillion economy by 2027. With its vast potential, logistics can transform trade, open up new opportunities, and strengthen the economy, bringing India closer to the vision of Viksit Bharat 2047.

> 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 and also 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 are highly focused on developing our employees to perform with the same excellence for the challenges and 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. Readers are hence cautioned not to place undue reliance on these statements and are advised to conduct their own investigation and analysis of the information contained or referred to this statement before taking any action with regard to specific objectives.

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. ASHIRVAD FOUNDATION	16.05 Lacs	"promoting global wellbeing"
2. ANGEL CHARITABLE TRUST	7.00 Lacs	"Vocational Training programme"

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, 2025, 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, 2025 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. 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 ecofriendly 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 and 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, 2014 is appended as "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/-
Place: - AHMEDABAD	PRAVINCHANDRA GOR
Date: - 05/09/2025	CHAIRMAN & MANAGING DIRECTOR
CIN:L74140GJ2010PLC062548	DIN: 03267951