Simplex Castings Ltd Directors Report

Dear Members,

Your Directors have pleasure in presenting the 45th Annual Report on the business & operations of the Company with the Audited Financial Statement for the year ended 31st March 2025.

FINANCIAL HIGHLIGHTS

Financial results are presented in the table below:

(Rs in Lacs)

Particulars	31st March, 2025	31st March, 2024
Revenue from Operations	17188.36	12213.05
Other Income	133.75	175.11
Total Income	17322.11	12388.16
Less : Expenses
Cost of goods sold	11145.01	6622.25
Employees Benefit Expenses	1096.17	1053.33
Finance Costs	891.46	861.54
Depreciation and amortization expenses	366.03	446.95
Other Expenses	1838.81	3213.81
Profit Before Tax and Exceptional Item	1984.63	190.91
Less: Exceptional Item	-	(120.13)
Less: Tax Expense	471.52	71.84
Profit After Tax	1513.11	239.20
Other Comprehensive Income	38.42	26.85
Total Comprehensive Income	1,551.53	266.05

PERFORMANCE OF THE COMPANY

Our Company revenue from operations rose by 40.73 % at Rs 17188.36 Lacs compared to Rs 12213.05 Lacs in

FY 2023-24. The Profit Before Tax (PBT) and Profit Tax (PAT) for the year 2024-25 are Rs 1984.63 Lacs and

Rs 1513.11 Lacs respectively, as against Rs 311.04 Lacs and Rs 239.20 Lacs respectively during the previous year ended 31st March, 2024.

With the improvement of economic conditions in these markets, we anticipate further increase in sales volume and profitability in the near future.

The Audited Financial Statements for the Financial Year ended March 31, 2025, forming part of this Annual Report, have been prepared in accordance with the Indian

Accounting Standard (hereinafter referred to as "Ind AS") prescribed under Section 133 of the Companies Act, 2013

(The ‘Act) and other recognized accounting practices and policies to the extent applicable. Necessary disclosures with regard to Ind-AS reporting have been made under the Notes to Financial Statements.

DIVIDEND

Your Company intends to conserve available resources to invest in the growth of the business and pursue strategic growth opportunities. Accordingly, your Directors do not recommend any dividend for the year.

TRANSFER TO RESERVES

Your Company has not transferred any amount to the General Reserves Account during the Financial Year 2024-

SUBSIDIARY, JOINT VENTURE (JV) AND ASSOCIATE COMPANIES

The Company does not have any subsidiary, associate or joint venture company.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

A detailed report on the Management Discussion and Analysis in terms of the provisions of Regulation 34 of the

SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015 is provided as a separate chapter in the annual report.

MATERIAL CHANGESAND COMMITEMENTAFFECTING 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 of the Company to which the financial statements relate and the date of this report.

DEPOSITS

During the year under review, your Company has not accepted any deposits within the meaning of Sections 73 and 74 of the Companies Act, 2013 read with Companies

(Acceptance of Deposits) Rules, 2014 (including any statutory Modification(s) or re-enactment(s) for the time being in force).

CREDIT RATINGS

During the year CRISIL Ratings has assigned the credit ratings on bank facilities of the Company.

Total Bank Loan Facilities Rated	Rs. 72 Crore
Long Term Rating	CRISIL BB-/Stable (assigned)
Short Term Rating	CRISIL A4+ (assigned)

CORPORATE GOVERNANCE

The Company has taken the requisite steps to comply with the recommendations concerning Corporate Governance. A separate statement on Corporate Governance together

Secretary with a certificate regarding compliance of conditions of Corporate

Governance as stipulated under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of the Annual Report.

CHANGE IN THE NATURE OF BUSINESS, IF ANY

There was no change in the nature of businessof the Independent of the Company during the Financial Year ended 31st March, 2025

DIRECTORS AND KEY MANAGERIAL PERSONNEL

Pursuant to Sections 149, 152 and other applicable provisions of the Act, one-third of such Directors as are liable to retire by rotation, shall retire every year and, if eligible, offer themselves for re-appointment at every AGM.

Accordingly, Mr. Ketan Moolchand Shah (DIN:00312343),

Whole Time Director will retire by rotation at the ensuing AGM, and being eligible, offers himself for re-appointment in accordance with provisions of the Act.

During the year under review, Ms. Ushma Nitin Khabaria

(DIN: 06791342) completed her second term of five years as an Independent Director of the Company and ceased to hold office w.e.f 30th September, 2024.

The Company has appointed Ms. Indu Nagar (DIN: 09010427) as an Independent Director w.e.f 1st October, 2024, in place of Ms. Ushma Nitin Khabaria (DIN: 06791342), upon completion of her second term. The appointment was approved by the Members at the Annual General Meeting held on 28th September, 2024. The appointment was made in accordance with the provisions of Companies (Management and Administration) Rules, 2014 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board of Directors of the Company has, re-appointed Mr Ketan M Shah as Whole Time Director designated as

Chief Executive officer and Chairman for a further period five years with effect from 10.07.2025 to 09.07.2030 and the same approved by the members in Extra Ordinary

General Meeting held on 21st June , 2025.

The Company has received necessary disclosures and notices with respect to re-appointment of Directors mentioned above.

The Company has received necessary declaration from all the Independent Directors under Section 149(7) of the Act and Regulation 25(8) of the Listing Regulations confirming that they meet the criteria of independence as laid down in Section 149(6) of the Act and Regulation 16(1)(b) of the

Listing Regulations.

The Company has also received from them, declaration of compliance of Rule 6(1) & (2) of the Companies (Appointment and Qualifications of Directors) Rules, 2014, regarding online registration with the Indian Institute of Corporate Affairs, Manesar, for inclusion/ renewal of name in the data bank of Independent Directors. With regard to integrity, expertise and experience (including the proficiency) of the

Independent Directors, the Board of Directors have taken on record the declarations and confirmations submitted by the Independent Directors and is of the opinion that they are persons of integrity and possess relevant expertise and experience and their continued association as Director will be of immense benefit and in the best interest of the Company. With regard to proficiency - Directors, ascertained from the online proficiency assessment test conducted by the Institute, as notified under Section 150(1) of the Act, the Board of Directors have taken on record the information submitted by Independent Directors that they have complied with the applicable laws.

A brief resume of the directors being re-appointed, the nature of expertise in specific functional areas, names of companies in which they hold directorships, committee memberships/ chairmanships, their shareholding in the Company, etc., have been furnished in the explanatory statement to the notice of the ensuing AGM.

KEY MANAGERIAL PERSONNEL

The following are the Key Managerial Personnel of the Company as on 31st March, 2025:

1. Mrs. Sangeeta K Shah: Managing Director

2. Mr. Avinash Hariharno: Chief Financial Officer

3. Mrs. Akanksha Kotwani: Company Secretary and

Compliance Officer of the Company

PERFORMANCE EVALUATION

Meeting the requirements of the statute and considering Board Performance Evaluation as an important step for a Board to transit to a higher level of performance, the Nomination and Remuneration Committee has laid down a comprehensive framework for carrying out the evaluations prescribed in the Companies Act, 2013 and the

SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015.

The framework was developed to give all Board members an opportunity to evaluate and discuss the Boards performance openly from multiple perspectives and enhance governance practices within the Board. The framework describes the evaluation coverage and the process thereof.

A structured questionnaire each for evaluation was prepared and a separate exercise was carried out to evaluate the performance of individual Directors including the Chairman of the Board.

The performance evaluation of the Independent Directors was also carried by the entire Board. The performance evaluation of the Chairman, Managing Director & Executive

Directors was carried out by the independent Directors at its separate meeting held on 12th February, 2025. The Directors expressed their satisfaction with the evaluation process.

FAMILIARISATION PROGRAMME OF INDEPENDENT DIRECTORS

The Company Conducts Familiarization Programme for the Independent Directors to provide them an opportunity to familiarize with the Company, its Management and its operations so as to gain a clear understanding of their roles, rights and responsibilities and contribute significantly towards the growth of the Company. The initiatives undertaken by the Company in this respect has been disclosed on the website of the Company at www. simplexcastings.com.

NOMINATION AND REMUNERATION POLICY

The remuneration paid to the Directors is in accordance with the Nomination and Remuneration Policy formulated in accordance with Section 178 of the Companies Act, 2013 and Regulation 19 of the Listing Regulations (including any statutory modification(s) time being in force). The silent aspects covered in the

Nomination and Remuneration Policy has been outlined in the Corporate Governance Report which forms part of this report.

The Nomination and Remuneration Policy is accessed through weblink at https://www.simplexcastings.com/public/ asset/docs/investor/code-of-conduct/policies/nomination-renumeration-policy.pdf.

CRITERIA FOR DETERMINING QUALIFICATIONS, POSITIVE ATTRIBUTES AND INDEPENDENCE OF A DIRECTOR

In terms of the provisions of Section 178(3) of the Act and Regulation 19 of the Listing Regulations, the NRC has formulated the criteria for determining qualifications, positive attributes and independence of Directors, the key features of which are as follows:

Qualifications The Board nomination process encourages diversity of thought, experience, knowledge, age, and gender. It also ensures that the Board has an appropriate blend of functional and industry expertise.

Positive Attributes - Apart from the duties of Directors as prescribed in the Act, the Directors are expected to demonstrate high standards of ethical behaviour, communication skills, and independent judgment. The Directors are also expected to abide by the respective Code of Conduct as applicable to them.

Independence - A Director will be considered independent if he/she meets the criteria laid down in

Section 149(6) of the Act, the Rules framed thereunder and Regulation 16(1)(b) of the Listing Regulations, as amended from time to time.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

The information required under Section 197 of the Companies Act, 2013 and Rule 5 (1) Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (including any statutory modification(s) or re-enactment(s) thereof for the time being in force is set out in the Annexure-I to this report.

The Company does not have any employee, whose particulars are required to be given pursuant to the provisions of section 197 of the Companies Act, 2013 read with Rule 5(2) & (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

The statement containing the names of top ten employees in terms of remuneration drawn and the particulars of employees as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(2) of the aforementioned Rules will be made available on request sent to the Company on cs@simplexcastings.com.

DIRECTORS RESPONSIBILITY STATEMENT or re-enactment(s) for the Pursuant to Section 134(3)(c) and Section 134(5) of the Companies Act, 2013 (including any statutory modifications or re-enactments thereof for the time being in force), the Directors of the Company confirm that: a. in the preparation of the annual accounts for the financial year ended 31st March, 2025, the applicable Accounting Standards and Schedule III of the Companies Act, 2013 have been followed and there are no material departures from the same; 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 as at 31st March, 2025 and of the profit and loss of the Company for the financial year ended 31st March, 2025; c. 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; d. the Annual Accounts have been prepared on a going concern basis; e. proper internal financial controls laid down by the

Directors were followed by the Company and that such internal financial controls are adequate and operating effectively; and f. proper systems to ensure compliance with the provisions of all applicable laws were in place and that such systems are adequate and operating effectively.

MEETING OF BOARD AND COMMITTEES

The details of the meetings of the Board of Directors and its

Committees, convened during the financial Year 2024-25 are given in the Corporate Governance Report which forms a part of Annual Report.

SEPARATE MEETING OF THE INDEPENDENT DIRECTORS

During the year under review, the Independent Directors met on 12th February, 2025, without the attendance of Non-Independent Directors and members of the management, inter alia, to discuss on the following:

To review the performance of the Non-Independent Directors and the Board as whole;

Review the performance of the Chairperson of your Company, taking into account views of Executive/Non-Executive Directors; and

Assess the quality, quantity and timeliness of flow of information between your Companys management and the Board that was necessary for the Board to effectively and reasonably perform their duties.

All the Independent Directors of the Company attended the separate Meeting of Independent Directors. Mr Champak K Dedhia chaired the Meeting.

STATUTORY AUDITORS AND THEIR REPORT

Pursuant to the provisions of Section 139 of the Companies

Act, 2013 read with Companies (Audit and Auditors) Rules,

2014 as amended from time to time, the members at the 44th Annual General Meeting held on September 28, 2024 had approved the appointment of M/s Harsh Jain & Associates,

Chartered Accountants (Firm Registration No. 007639C), as the Statutory Auditors of the Company for a period of

5 (five) consecutive years from the conclusion of the 44th

AGM till the conclusion of 49th AGM of the Company to be held in the year 2029.

The Notes on financial statements referred to in the

Auditors Report are self-explanatory and do not call for any further comments.The Auditors have issued an unmodified opinion on the Financial Statements, for the financial year ended 31st March, 2025.

The Auditors have also confirmed that they have subjected themselves to the peer review process of Institute of

Chartered Accountants of India (ICAI) and hold a valid certificate issued by the Peer Review Board of the ICAI.

COST AUDITOR AND THEIR REPORT

Pursuant to the provisions of Section 148 of the Act read with Companies (Cost Records and Audit) Rules 2014, M/s Sashi Ranjan & Co (FRN : 103830) have been appointed as Cost Auditors for the financial year 2025-26 to conduct cost audit of the accounts maintained by the Company in respect of the various products prescribed under the applicable Cost Audit Rules. The remuneration of Cost Auditors has been approved by the Board of Directors on the recommendation of Audit Committee. The requisite resolution for ratification of remuneration of Cost Auditors by members of the Company has been set out in the Notice of ensuing AGM.

Due to other professional commitments, M/s Arindam & Associates, Cost Auditors who has done our last year audit has expressed his unwillingness to be reappointed for the FY 2025-26.

The Cost Auditors have certified that their appointment is within the limits of Section 141(3)(g) of the Act and that they are not disqualified from appointment within the meaning of the said Act.

The Cost Audit Report for the financial year 2023-24, issued by M/s Arindam & Associates, Cost Auditors, in respect of the various products prescribed under Cost Audit

Rules was filed with the Ministry of Corporate Affairs on 9th October , 2024.

There were no observations (including any qualification, reservation, adverse remark, or disclaimer) of the Cost Auditors in the Report issued by them for the financial year

2023-24 which call for any explanation/comment from the Board of Directors.

INTERNAL AUDITOR

Pursuant to the provisions of section 138 and rules made there under, the Board on recommendation of Audit Committee, in the Board Meeting held on 30th May, 2025 has reappointed M/s M D N & Associates, as internal auditor of the Company for the FY 2025-26.

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

Company has reappointed M/s Meena Naidu & Associates,

Company Secretaries, (Membership no. A28193, CP No. 23853) to undertake the Secretarial Audit of the Company for the Financial Year 2024-25.

The Secretarial Audit Report for the financial year ended

31st March, 2025 is annexed herewith as Annexure II to this report.

The Secretarial Audit Report does not contain any qualification, reservation or adverse remark therefore, no details are required to be disclosed.

Pursuant to provisions of Regulations 24A and 36 of the Listing Regulations and the provisions of Section 204 and other applicable provisions, if any, of the Companies Act, 2013 and Rules framed thereunder, M/s Meena

Naidu & Associates, Company Secretaries, (Membership no. A28193, CP No. 23853) have been proposed to be appointed as Secretarial Auditor of the Company to conduct secretarial audit of the Company for a term of five consecutive years with effect from April 01, 2025 until

March 31, 2030.

She has confirmed that She is peer reviewed company secretary and hold a valid certificate by the Institute of Company Secretaries of India. She has also confirmed that She is not disqualified and is eligible for the said appointment.

DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT

The Statutory Auditors, Cost Auditor or Secretarial Auditor of the Company have not reported any frauds to the Audit Committee or to the Board of Directors under Section

143(12) of the Companies Act, 2013, including rules made thereunder.

EXTRACT OF ANNUAL RETURN

Pursuant to Section 134(3)(a) and Section 92(3) of the Act read with Companies (Management and Administration)

Rules, 2014, the Annual Return of the Company in Form MGT-7 has been placed on the Companys website and can be accessed at the following link: https://www. simplexcastings.com/investor/shareholders.

DISCLOSURE ON COST RECORDS

Pursuant to provisions of Section 134 of the Act read with

Rule 8(5)(ix) of the Companies (Accounts) Rules, 2014 it is confirmed that maintenance of cost records as specified by the Central Government under sub-section (1) of section 148 of the Act, is required by the Company and accordingly such accounts and records are made and maintained.

RELATED PARTY TRANSACTIONS

All Related Party Transactions (RPTs) entered into by the Company during the year under review were on an arms length basis and in the ordinary course of business. These RPTs did not attract provisions of Section 188 of the Companies Act, 2013 and were also not material RPTs under Regulation 23 of the Listing Regulations. Given that the Company does not have anything to report pursuant to Section 134(3)(h) of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014 in Form No. AOC-

2, therefore the same is not provided. All related party transactions are approved by the Audit Committee and are periodically reported to the Audit Committee. Prior approval of the Audit Committee was obtained on a periodic basis for the transactions which were planned and / or repetitive in nature and omnibus approvals were also taken as per the policy laid down for unforeseen transactions.

The Policy on Related Party Transactions as approved by the Board of Directors is available on the Companys website and accessed through weblink at https://www. simplexcastings.com/public/asset/docs/investor/code-of-conduct/policies/RPT_POLICY.pdf.

The details of the transactions with related parties during

FY 2024-25 are provided in the accompanying financial statements.

The transactions with person or entity belonging to the promoter/ promoter group which hold(s) 10% or more shareholding in the Company has been disclosed in the accompanying financial statements.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

Details of loans, guarantees and investments under the provisions of Section 186 of the Act read with the

Companies (Meetings of Board and its Powers) Rules,

2014, as on 31st March, 2025, are set out in Notes to the Financial Statements of the Company.

SHARE CAPITAL

The Authorised Share Capital of your Company is Rs

10,00,00,000/- consisting of 1,00,00,000 Equity Shares of the Face Value of Rs 10/- each.

The paid-up Equity Share Capital of your Company as on

March 31, 2025 stood at Rs 7,19,82,810/- consisting of

71,98,281 Equity Shares of the Face Value of Rs 10.00 each, fully paid-up.

On 24th April , 2024 , the Company has allotted 760521

Equity shares to Non promoters pursuant to the consent of the members of the Company received by Special

Resolution passed in their Extra Ordinary General Meeting held on 21st March, 2024 and in-principle approval received from BSE Ltd. vide their letters dated 15th April, 2024. On 7th June , 2024, the company has allotted 306560 equity shares upon conversion of warrants to Mr Ketan M Shah, Promoter.

Your Company has not issued equity shares with differential rights as to dividend, voting or otherwise; and does not have any ESOP Scheme for its employees/Directors. As on

March 31, 2025, none of the Directors of the Company hold instruments convertible into Equity Shares of the Company.

LISTING OF SHARES

The Company Securities are listed on Bombay Stock

Exchange and Calcutta Stock Exchange.

The Board of Directors in their meeting on 12th November,

2022 has approved the Delisting of the equity shares of the Company from The Calcutta Stock Exchange Ltd. (CSE) only in terms of Regulation 5 & 6 of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations 2021. The Company has filedthe delisting application before Calcutta Stock Exchange but Calcutta Stock Exchange has suspended the Company with effect from 5th April, 2023.

RISK MANAGEMENT

The Company has in place comprehensive risk assessment and minimization procedures, which are reviewed by the Board periodically. The Company has been addressing various risks impacting the Company.

DISCLOSURE ON AUDIT COMMITTEE

The Audit Committee as on 31st March, 2025 comprises of the following Independent Directors:

Mr. Champak K Dedhia (Chairman), Ms. Indu Nagar and

Mr. Shailesh Jain as Members.

The Board has accepted all recommendations made by the Audit Committee during the year.

VIGIL MECHANISM

A Vigil Mechanism Policy for Directors and employees of the Company is constituted, to provide a mechanism which ensures adequate safeguards to employees and

Directors from any victimization on rising of concerns of any violations of legal or regulatory requirements, incorrect or misrepresentation of any, financial statements and reports, etc.

All employees of the Company have access to the Chairman of the Audit Committee in case they want to report any concern. The Policy on Vigil Mechanism is available on your Company website.

During the year under review, the Company has not received any complaints under the Mechanism.

CORPORATE SOCIAL RESPONSIBILITY:

The CSR Committee has formulated a CSR policy of the

Company for undertaking the activities as specified in

Schedule VII to the Companies Act, 2013. A copy of the CSR Policy has been posted on the website of the company at www.simplexcastings com and the weblink http://www. simplexcastings.com/investors/code-of-conduct/docs/ policies/Corporate_Social_Responsibility_Policy.pdf.

The Composition of the CSR Committee:

Mr Champak K Dedhia (Chairman) Mr Ketan M Shah (Member) Mrs Sangeeta Ketan Shah (Member)

The Annual Report on Corporate Social Responsibility activities during the year are set out in Annexure III of this Report in the format prescribed in the Companies

(Corporate Social Responsibility Policy) Rules, 2014.

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

Information on conservation of energy, technology absorption, foreign exchange earnings and outgo required to be given pursuant to Section 134(3) (m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts)

Rules, 2014 is annexed herewith as Annexure IV to this report.

INTERNAL FINANCIAL CONTROL

Internal Financial Controls are an integrated part of the risk management process, addressing financial and financial reporting risks. The internal financial controls have been documented, digitized and embedded in the business processes.

Assurance on the effectiveness of internal financial controls is obtained through management reviews, control self-assessment, continuous monitoring by functional experts as well as testing of the internal financial control systems by the internal auditors during the course of their audits. We believe that these systems provide reasonable assurance that our internal financial controls are designed effectively and are operating as intended.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS / COURTS

There are no significant and material orders passed by the

Regulators or Courts or Tribunals which would impact the going concern status of the Company and its operation in future.

INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

Pursuant to the provisions of Section 125 of the Companies Act, 2013, the outstanding amount of dividend which remained unpaid or unclaimed for a period of seven years and shares whose dividend was unpaid/unclaimed for seven consecutive years have been transferred by the Company, from time to time on due dates, to the Investor

Education and Protection Fund.

Pursuant to the provisions of Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules,

2012, the Company has uploaded the details of unpaid and unclaimed amounts lying with the Company, as on 28th

September 2024 (date of last Annual General Meeting) on the Companys website at www.simplexcastings.com and on the website of the Ministry of Corporate Affairs.

Any person, whose unclaimed or unpaid amount has been transferred by the Company to IEPF may claim their refunds to the IEPF authority. For claiming such amount, claimant needs to file form IEPF-5 along with requisite documents.

The detailed procedure for claiming shares and Dividend Amount has been uploaded on the Website of the Company at www.simplexcastings.com and also available on the website of IEPF (www.iepf.gov.in).

The Nodal Officer for the purpose of IEPF is Company

Secretary and the website address is www.simplexcastings. com.

HUMAN RESOURCE AND INDUSTRIAL RELATIONS

Your Company believes that its employees are one of the most valuable assets of the Company. During the year under review, the Company organised various training programs at all level to enhance skill of the employees. The employees are deeply committed to the growth of the Company.

DETAILS OF DIFFERENCES BETWEEN 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 ALONG WITH THE REASON THEREOF:

Your Company has not made any one time settlement with any of its lenders.

DETAILS OF APPLICATIONS MADE OR ANY PROCEDDINGS PENDING UNDER THE INSOLVENCY AND BANKRUPTCY 2016:

No application pending under Insolvency and Bankruptcy Act 2016.

COMPLIANCE OF SECRETARIAL STANDARD:

Your Company have complied with all Secretarial Standards issued by the Institute of Company Secretaries of India

(ICSI) and approved by Central Government from time to time.

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

The Company has adopted zero tolerance for sexual harassment at the workplace and has formulated a policy on prevention, prohibition, and redressal of sexual harassment at the workplace in line with the provisions of the Sexual Harassment of Women at Workplace

(Prevention, Prohibition and Redressal) Act, 2013 and the rules thereunder for prevention and redressal of complaints of sexual harassment at workplace. Awareness programs were conducted at various locations of the Company. The Company has complied with provisions relating to the constitution of the Internal Committee under the

Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. There were no complaints relating to sexual harassment, pending at the beginning of financial year, received during the year and pending as on the end of the Financial Year 2024-25.

ACKNOWLEDGEMENT

The Board of Directors would like to express their sincere appreciation for the assistance and co-operation received from the financial institutions, banks, Government authorities, customers, vendors and members during the year under review. The Board of Directors also wish to place on record its deep sense of appreciation for the committed services by the Companys executives, staff and workers.

For and on behalf of the Board of Directors
Ketan M Shah	Sangeeta K Shah
Chairman	Managing Director
DIN:00312343	DIN:05322039
Place: Bhilai
Date: 04.08.2025