Spunweb Nonwoven Ltd Directors Report

Directors Report

Dear Members,

The Directors of your Company have pleasure in presenting their Eleventh Annual Report of the business and operations of the Company along with the Audited Financial Statements for the financial year ended March 31, 2026.

Financial Results

				(Rs. In Lakhs)
	Standalone		Conso idated
Particulars	2025-26	2024-25	2025-26	2024-25
Revenue from Operations	24,321.08	20,882.88	32,448.22	22,559.06
Other Income	117.95	55.09	204.62	74.23
Total Revenue	24,439.03	20,937.97	32,652.84	22,633.28
Cost of Materials Consumed	18,401.71	16,497.33	23,244.12	17,741.24
Change in Inventories	-444.21	-751.18	-254.46	-991.27
Employee Benefit Expense	702.03	587.60	923.89	613.31
Finance Costs	776.00	707.32	1,149.46	753.21
Depreciation and Amortization Expenses	836.28	796.72	1,278.90	873.67
Other Expenses	1,888.97	1,811.73	2,936.37	2,068.50
Total Expenditures	22,160.78	19,649.52	29,278.28	21,058.65
Profit/loss Before Tax	2,278.25	1,288.45	3,374.56	1,574.63
Tax Expenses:
Current Tax	584.27	414.47	901.40	506.73
Deferred Tax	92.41	-32.19	95.49	-36.83
Prior Period Taxes	8.48	25.51	70.87	25.51
Profit After Tax	1,593.09	880.66	2,306.80	1,079.22
Earnings per Share:
Basic	7.16	5.12	10.37	6.28
Diluted	7.16	5.12	10.37	6.28

*Spunweb India Private Limited, a wholly owned subsidiary of the company w.e.f. December 27, 2024 and Cigate Consumer Private Limited is Majority (51%) subsidiary of the Company w.e.f. November 3, 2025.

Sales & Profitability Review

Standalone: During the year under review the Company has generated standalone revenue from its operation of Rs. 24,321.08 Lakhs as compared to previous year of Rs. 20,882.88 Lakhs. Standalone Profit after tax was Rs. 1,593.09 Lakhs during the year under review as compared to profit after tax of Rs. 880.66 Lakhs of previous year. Your directors expect further growth of the company in the year to come.

Consolidated: During the year under review the Company has generated consolidated revenue from its operation of Rs. 32,448.22 Lakhs as compared to previous year of Rs. 22,559.06 Lakhs.

Consolidated Profit after tax was Rs. 2,306.80 Lakhs during the year under review as compared to profit after tax of Rs. 1,079.22 Lakhs of previous year. Your directors expect further growth of the company in the year to come.

Dividend

Keeping in view the current profitability of the Company and to conserve resources, your directors do not recommend payment of dividend at the forthcoming Annual General Meeting.

Transfer to Reserves

Your Company has transferred Rs. 2,306.80 Lakhs for year ended March 31, 2026 to Reserves and Surplus.

Change in Nature of Business

During the year, the Company has not changed its business or object and continues to be in the same line of business as per the main object of the Company.

Change in Registered Office

During the year under review, there is no change in the registered office of the Company.

Share Capital

The Authorized Share Capital of the company is Rs. 25,00,00,000/- (Rupees Twenty-Five Crore Only) divided into 2,50,00,000 (Two Crore Fifty Lakhs) Equity Shares of Rs. 10/- (Rupees Ten Only) Each.

During the year under review, following changes took places in the Authorized and Paid-up share capital of the Company.

Authorized Equity Share Capital

There is no change in Authorised Share Capital of the Company.

Issued, Subscribed & Paid-Up Capital and Allotments

Issued, Subscribed & Paid-Up Capital of the company increased from Rs. 17,75,18,090/- (Rupees Seventeen Crore Seventy Five Lakhs Eighteen Thousand Ninety Only) divided into 1,77,51,809 (One Crore Seventy Seven Lakhs Fifty One Thousand Eight Hundred Nine) Equity Shares of Rs. 10/- (Rupees Ten Only) Each to Rs. 24,10,34,090/- (Rupees Twenty Four Crores Ten Lakhs Thirty Four Thousand Ninety Only) divided into 2,41,03,409 (Two Crores Forty One Lakhs Three Thousand Four Hundred Nine Only) Equity Shares of Rs. 10/- (Rupees Ten Only) Each.

The details of Allotments made during the Financial Year are given as under:

The Company issued and allotted 63,51,600 (Sixty Three Lakhs Fifty-One Thousand Six Hundred) equity shares of Rs.10/- (Rupees Ten Only) each pursuant to the Initial Public Offer (IPO) by way of a fresh issue of equity shares, in accordance with the resolution passed by the Board of Directors on July 17, 2025.

Significant and Material Orders

There are no significant and material orders passed by the regulators or courts or tribunals except herein above mentioned.

Initial Public Offer

During the year under review, the Company has successfully completed its Initial Public Offer (IPO) through fresh issue of 63,51,600 Equity Shares of face value of Rs.10/- each at a price of Rs. 96/- per Equity Share including a premium of Rs.86/- per Equity Share, aggregating total offer to Rs. 60.98 Crores.

Basic details of the IPO are as follows:

• Issue Period: Open on July 14, 2025 and closed on July 16, 2025

• Price Band: Rs. 90/- to Rs. 96/- per equity share

• Issue size: 63,51,600 fresh equity shares aggregating to Rs. 60.98 Crores at the upper price band

• Listing Date: July 21, 2025

• Stock Exchange: Emerge Platform of National Stock Exchange of India Limited ("the NSE Emerge Platform")

Your Directors also extend their heartfelt gratitude to all the members and investors for subscribing to the Equity Shares offered through the IPO and for reposing their continued trust and confidence in the Company and its management. The Board remains committed to creating long-term value for all stakeholders and upholding the highest standards of corporate governance.

The Company has successfully completed its Initial Public Offer (IPO) and its equity shares were listed on the NSE Emerge Platform on July 21, 2025.

Material Changes and Commitment During the year

Further, during the year under review, the Company acquired 51% of the paid-up equity share capital of Cigate Consumer Private Limited for an aggregate consideration of Rs.51,000. Cigate Consumer Private Limited, incorporated on November 3, 2025, became a subsidiary of the Company pursuant to the aforesaid acquisition.

There are no material changes and commitments, affecting the financial position of the Company, have occurred between the ends of financial year of the Company i.e. March 31, 2026 to the date of this Report other than hereinabove mentioned.

Directors and Key Managerial Personnel

Constitution of the Board

As on the date of this report, the Board comprises of the following Directors;

Name of Director	Category Cum Designation	Date of Original Appointment	Date of Appointment at current Term & designation
Jay Dilipbhai Kagathara	Chairman & Managing Director	06/11/2015	09/12/2024
Kishan Dilipbhai Kagathara	Whole-Time director	09/09/2022	09/12/2024
Charulata Jay Kagathara	Non-Executive Director	06/07/2024	06/07/2024
Chetankumar Jayantilal Kamani	Non-Executive & Independent Director	29/11/2024	09/12/2024
Amul Kantibhai Kotadia	Non-Executive & Independent Director	29/11/2024	09/12/2024

Disclosure by Directors

The Directors on the Board have submitted notice of interest under Section 184(1) i.e. in Form MBP-1, intimation under Section 164(2) i.e. in Form DIR-8 and declaration as to compliance with the Code of Conduct of the Company.

None of the Director of the Company is serving as a Whole-Time Director in any other Listed Company and the number of their directorship is within the limits laid down under section 165 of the Companies Act, 2013.

Board Meeting

The Board of the Company regularly meets to discuss various Business opportunities. Additional Board meetings are convened, as and when required to discuss and decide on various business policies, strategies and other businesses.

During the year under review, Board of Directors of the Company met 14 (Fourteen) times as on April 14, 2025, May 24, 2025, June 5, 2025, June 7 2025, June 15, 2025, July 4, 2025, July 5, 2025, July 17, 2025, August 12, 2025, September 1, 2025, October 16, 2025, November 5, 2025, December 22, 2025 and March 24, 2026.

The gap between two consecutive meetings was not more than 120 (One Hundred and Twenty) days as provided in Section 173 of the Act.

The details of attendance of each Director at the Board Meetings are given below:

NAME	DESIGNATION	NO. OF MEETINGS ENTITLED TO ATTEND	NO. OF MEETINGS ATTENDED
Jay Dilipbhai Kagathara	Chairman & Managing Director	14	14
Kishan Dilipbhai Kagathara	Whole-Time director	14	14
Charulata Jay Kagathara	Non-Executive Director	14	14
Chetankumar Jayantilal Kamani	Non-Executive Director & Independent Director	14	14
Amul Kantibhai Kotadia	Non-Executive Director & Independent Director	14	14

General Meetings

During the year under review, the following General Meetings were held, the details of which are given as under:

Sr. No.	Type of General Meeting	Date of General Meeting
1	Annual General Meeting	28/06/2025

Independent Directors

In terms of Section 149 of the Companies Act, 2013 and rules made thereunder, the Company has Two Non-Executive Independent Directors in line with the act. The Company has received necessary declaration from each Independent Director under Section 149 (7) of the Companies Act, 2013 that they meet the criteria of independence laid down in Section 149 (6) of the Act. All the Independent Directors of the Company have registered themselves in the Independent Director Data Bank. Further, In the opinion of the Board, all our Independent Directors possess requisite qualifications, experience, expertise including the Proficiency and hold high standards of integrity for the purpose of Rule 8(5)(iiia) of the Companies (Accounts) Rules, 2014.

Formal Annual Evaluation:

The Board of Directors has carried out an annual evaluation of its own performance, its committees and individual Directors pursuant to the requirements of the Act and the Listing Regulations.

Further, the Independent Directors, at their exclusive meeting held on March 23, 2026 during the year reviewed the performance of the Board, its Chairman and Non-Executive Directors and other items as stipulated under the Companies Act, 2013.

Formal Updation Programs for Independent Directors:

The Company conduct familiarization and updation programs for independent directors on need basis. Conducted by knowledgeable persons from time to time.

Retirement by Rotation and Subsequent Re-Appointment

Mr. Kishan Dilipbhai Kagathara, Whole-Time Director of the company, is liable to retire by rotation at the ensuing Annual General Meeting, pursuant to Section 152 and other applicable provisions, if any, of the Companies Act, 2013, read with the Companies (Appointment and Qualification of Directors) Rules, 2014 (including any statutory modification(s) or reenactments) thereof for the time being in force), and being eligible have offered himself for reappointment.

Appropriate business for his re-appointment is being placed for the approval of the shareholders of the Company at the ensuing AGM. The relevant details, as required under Secretarial Standard, of the person seeking re-appointment as Director are also provided in Notes to the Notice convening the 11^th Annual General meeting.

Key Managerial Personnel

Name	Designation	Date of Appointment	Date of Resignation
Jay Dilipbhai Kagathara	Chairman & Managing Director	09/12/2024	NA
Kishan Dilipbhai Kagathara	Whole-Time Director	09/12/2024	NA
Abhaykumar Narshibhai Fadadu	Chief Financial Officer	29/11/2024	NA
Romit Ajaykumar Shah	Company Secretary & Compliance Officer	12/12/2024	NA

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, confirm that:

a) In preparation of annual accounts for the year ended March 31, 2026, the applicable accounting standards have been followed and that no material departures have been made from the same;

b) The Directors had 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 year;

c) The Directors had 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 had prepared the annual accounts for the year ended March 31, 2026 on going concern basis.

e) The Directors had laid down the 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 had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

COMMITTEES OF BOARD

Constitution of Various Committees & Its Meeting;

AUDIT COMMITTEE;

The Audit Committee was constituted vide Board resolution dated December 12, 2024 pursuant to Section 177 of the Companies Act, 2013. The Committee met 08 (Eight) time(s) during the year. The meetings were held on April 14, 2025, June 5, 2025, June 15, 2025, July 4, 2025, July 5, 2025, October 16, 2025, November 5, 2025 and February 12, 2026 with the requisite quorum present for the meeting. The composition and attendance of members of the committee are as under:

Sr. No. Name of the Person	Designation	Particulars of Meetings
		No. of Meetings entitled to attend	No. of Meetings Attended
1 Mr. Chetankumar Jayantilal Kamani	Chairman	8	8
2 Mr. Amul Kantibhai Kotadia	Member	8	8
3 Mr. Kishan Dilipbhai Kagathara	Member	8	8

NOMINATION AND REMUNERATION COMMITTEE;

The Board has constituted the Nomination and Remuneration Committee vide Board Resolution dated December 12, 2024 pursuant to section 178 of the Companies Act, 2013. The Nomination and Remuneration Committee meetings are generally held for identifying the persons who are qualified to become Directors and may be appointed in senior management and recommending their appointments and removal. The Committee met 01 (One) time(s) during the year. The meetings was held on February 12, 2026. The composition of the Committee is given below:

Sr. No. Name of the Person	Designation	Particulars of Meetings
		No. of Meetings entitled to attend	No. of Meetings Attended
1 Mr. Chetankumar Jayantilal Kamani	Chairman	1	1
2 Mr. Amul Kantibhai Kotadia	Member	1	1
3 Mrs. Charulata Jay Kagathara	Member	1	1

STAKEHOLDER RELATIONSHIP COMMITTEE;

The Shareholders Relationship Committee has been formed by the Board of Directors pursuant to Section 178 of the Companies Act, 2013 at the meeting held on December 12, 2024. The Committee mainly focus on the redressal of Stakeholders/Investors Grievances, if any, like Transfer/Transmission/Demat of Shares; Loss of Share Certificates; Non-receipt of Annual Report, etc. The Committee met 01 (One) time(s) during the year. The meetings was held on February 12, 2026. The composition of the Committee is given below:

		Particulars of Meetings
Sr. No. Name of the Person	Designation	No. of Meetings entitled to attend	No. of Meetings Attended
1 Mrs. Charulata Jay Kagathara	Chairman	1	1
2 Mr. Jay Dilipbhai Kagathara	Member	1	1
3 Mr. Chetankumar Jayantilal Kamani	Member	1	1

CSR COMMITTEE;

The CSR Committee was constituted vide Board resolution dated December 12, 2024 in compliance of the provisions of the Companies Act, 2013. The Committee met 01 (One) time(s) during the year. The meeting was held on December 20, 2025 with the requisite quorum present for the meeting. The composition and attendance of members of the committee are as under:

Sr. No. Name of the Person	Designation	Particulars of Meetings
		No. of Meetings entitled to attend	No. of Meetings Attended
1 Mr. Kishan Dilipbhai Kagathara	Chairman	1	1
2 Mr. Chetankumar Jayantilal Kamani	Member	1	1
3 Mr. Jay Dilipbhai Kagathara	Member	1	1

The Annual Report on CSR activities is appended under Annexure-III to the Boards Report.

IPO COMMITTEE;

During the financial year 2025-26, the IPO Committee of Board of Directors of the Company met three (3) times to consider and oversee matters relating to the Initial Public Offering of the Company. The meetings of the Committee were held on May 13, 2025, July 11, 2025 and July 16, 2025.

Vigil Mechanism:

Pursuant to the provisions of Section 177(9) of the Companies Act, 2013, the Company has established a "Vigil Mechanism" incorporating whistle blower policy in terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for employees and Directors of the Company, for expressing the genuine concerns of unethical behaviour, actual or suspected fraud or violation of the codes of conduct by way of direct access to the Chairman/ Chairman of the Audit Committee. The Company has also provided adequate safeguards against victimization of employees and Directors who express their concerns. The Policy on Vigil Mechanism and whistle blower policy as approved by the Board may be accessed on the Companys website at the link https://www.spunweb.com/investors.php Rs.investor id = 13&title=Corporate+Policies.

Public Deposits

The company has not accepted any deposits from the public. Hence, the directives issued by the Reserve Bank of India & the relevant Provisions of the Company Act, 2013 and the Rules made thereunder are not applicable.

Particulars of Loans, Guarantees, Investments & Security

Details of Loans, Guarantees, Investments and Security covered under the provisions of Section 186 of the Companies Act, 2013 are given in the notes to the Financial Statement.

Annual Return

A copy of the annual return as provided under Section 92(3) of the Act, in the prescribed form, which will be filed with the Registrar of Companies/MCA, is hosted on the Companys website and can be accessed at www.spunweb.com.

Contracts or arrangements with related parties:

All the Related Party Transactions entered into during the financial year were on an Arms Length basis and in the Ordinary Course of Business. The disclosure of Related Party Transactions as required under Section 134(3)(h) of the Companies Act, 2013, in Form AOC-2 is attached as Annexure- II forms part of this Report.

The details of the related party transactions for the financial year 2025-26 is given in notes of the financial statements which is part of Annual Report.

The Policy on Related Party Transactions as approved by the Board of Directors is available on the website of the Company at

https://www.spunweb.com/investors.php Rs.investor id = 13&title=Corporate+Policies.

Disclosure of Remuneration:

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a statement showing the names and other particulars of the employees drawing remuneration in excess of the limits set out in the said rules will be available for inspection at the Registered Office of the Company during working hours and any member interested in obtaining such information may write to the Company and the same will be furnished on request. Having regard to the provisions of the first proviso to Section 136(1) of the Act and as advised, the Annual Report excluding the aforesaid information is being sent to the members of the Company.

Disclosures relating to remuneration and other details as required under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are provided as an Annexure - V, forms part of this Report.

Particulars of Employee:

None of the Employee has Received Remuneration Exceeding the Limit as Stated in Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

Conservation of Energy, Technology Absorption and Foreign Exchange Earnings & Expenditure:

The Company has complied with the applicable provisions regarding Conversion of energy, technology absorption and foreign exchange earnings and outgoing as required pursuant to section 134(3) (m) of the Companies Act, 2013 read with Rule 8(3) of Companies (Accounts) Rules, 2014 and the information of the same is provided in "Annexure IV".

Subsidiaries of the Company

SPUNWEB INDIA PRIVATE LIMITED is a wholly owned subsidiary of the company w.e.f. December 27, 2024.

CIGATE CONSUMER PRIVATE LIMITED is a majority (51%) subsidiary of the company w.e.f. November 3, 2025.

Pursuant to the provisions of Section 129(3) of the Act, a statement containing the salient features of financial statements of the Companys subsidiaries in Form No. AOC-1 are provided in Annexure - I.

The consolidated financial statements presented in this Annual Report include the financial results of subsidiaries, which are also available on the companys website at www.spunweb.com.

Associates and Joint Venture Company

During the year under review, the Company does not have any Associate or Joint Venture.

Sexual Harassment of Women at Workplace

In order to prevent sexual harassment of women at workplace, a legislation - The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 was notified on December 09, 2013. Under the said Act, every Company is required to set up an Internal Complaints Committee to look into complaints relating to sexual harassment at workplace of any woman employee.

Your Company has adopted a policy for prevention of Sexual Harassment of Women at Workplace and constituted an Internal Complaints Committee (ICC).

During the financial year, the Company has not received a single complaint on sexual harassment.

Secretarial Standards of ICSI

Pursuant to provisions of section 118 of the Companies Act, 2013, the Company has complied with the applicable provisions of the Secretarial Standards issued by The Institute of Company Secretaries of India and notified by Ministry of Corporate Affairs, wherever applicable.

Risk Management

A well-defined risk management mechanism covering the risk mapping and trend analysis, risk exposure, potential impact and risk mitigation process is in place. The objective of the mechanism is to minimize the impact of risks identified and taking advance actions to mitigate it. The mechanism works on the principles of probability of occurrence and impact, if triggered. A detailed exercise is being carried out to identify, evaluate, monitor and manage both business and non-business risks.

Internal Financial Control Systems and their Adequacy

The Company has an effective internal control system, which ensures that all the assets of the Company are safeguarded and protected against any loss from unauthorized use or disposition.

The Company has put in place adequate internal financial controls with reference to the financial statements commensurate with the size and nature of operations of the Company. During the year, such controls were tested and no material discrepancy or weakness in the Companys internal controls over financial reporting was observed.

CORPORATE GOVERNANCE:

The Company strives to incorporate the appropriate standards for corporate governance. However, pursuant to Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Company is not required to mandatorily comply with the provisions of certain regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and therefore the Company has not provided a separate report on Corporate Governance, although few of the information are provided in this report under relevant headings.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

In terms of Regulation 34 and Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 a review of the performance of the Company for the year under review, Management Discussion and Analysis Report is presented in a separate section which is annexed to this Report as Annexure - VI.

Boards Policies

During the year Board has formulate various policies. It is set of written guidelines that provide direction for an organizations operations, ensuring alignment with its values and goals. They outline the boards expectations, rules, and regulations, guiding decision-making and actions at all levels. These policies are crucial for effective governance, risk management, and achieving desired organizational outcomes. Followings are policies formed by the Board:

> Code of Conduct for Directors and Senior Management

> Code of practices and procedures for fair disclosure of unpublished price Sensitive information

> Dividend Distribution Policy.

> Familiarization Program for Independent Directors

> Health, Safety and Environment Policy

> Code of Internal Procedures and Conduct for Prevention of Insider Trading

> Materiality Policy for Identification of Group Companies

> Nomination and Remuneration Policy

> Policy on Preservation and Archival of Documents

> Policy For Determination of Material Event and Disclosure

> Policy For Determining Material Subsidiaries

> Policy on Evaluation of The Board and The Independent Director

> Policy on Prevention of Sexual Harassment at Workplace

> Policy on Related Party Transactions

> Policy on Terms of Appointment of Independent Director

> Vigil Mechanism/ Whistle Blower Policy for Directors and Employees

Statutory Auditor and their Report

Your company has appointed M/s RVD & Co., Chartered Accountants as a Statutory Auditor for the term of 5 years and to hold office till the conclusion of Fourteenth Annual General Meeting which will be held in the year 2029.

M/s. RVD & Co., Chartered Accountants have given their consent to act as the Auditors of the Company and have confirmed that the said appointment, if made, will be in accordance with the conditions prescribed under Sections 139 and 141 of the Act.

M/s. RVD & Co., Chartered Accountants, have confirmed that they have not been disqualified to act as Statutory Auditors of the Company and that their appointment is within the maximum ceiling limit as prescribed under Section 141 of Companies Act, 2013/relevant statute.

The Statutory Auditors of the Company have not reported any fraud as specified under the second proviso of Section 143(12) of the Companies Act, 2013 (including any statutory modification(s) or re-enactment(s) for the time being in force). The Auditors Report for the Financial Year ended March 31, 2026, does not contain any qualification, reservation or adverse remark. Further the Auditors Report being self - explanatory does not call for any further comments from the Board of Directors.

Secretarial Audit

In presently, the provisions of Section 204 and other applicable provisions, if any, of the Companies Act, 2013 (the Act), read with Rule 9 of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 [including any statutory modification(s) or re-enactment(s) thereof, for the time being in force], the Company has appointed M/s K.P. Ghelani & Associates, Company Secretaries (Mem No. A33400) for the year 2025-2026 to 20292030, for a term of five consecutive years and and have submitted their Report in Form No. MR- 3 as required under Section 204 of the Companies Act, 2013 and rules made thereunder is attached herewith as "Annexure VII".

Cost Auditor and Maintenance of Cost Record

The provisions relating to maintenance of cost records as specified by the Central Government under sub section (1) of section 148 of the Companies Act, 2013, were not applicable to the Company up to 31^st March, 2026 and accordingly such accounts and records were not required to be maintained. Therefore, the company has not appointed a Cost Auditor.

Internal Auditor

The Company has appointed Mr. Ramesh Patel, Proprietor of Ramesh M Patel & Co., Chartered Accountants, as the Internal Auditor of the Company for the financial year 2025-2026.

Mr. Jayesh Kantibhai Baldha, Proprietor of J K Baldha and Co., Chartered Accountants, has resigned during the year under review as Internal Auditor of the Company.

Human Resource Development and Industrial Relations

The Company believes that its human resources are one of the most crucial assets and critical enablers of the Companys growth. To that extent, the Company engages with its employees to hone their skill sets and equip them with knowledge and know-how. It is also deeply invested in establishing its brand name to attract and retain the best talent in the market.

During the period under review, employee relations continued to be healthy, cordial, and harmonious at all levels, and the Company aims to maintain such relations with the employees going forward as well.

Website

The Company has maintained a functional website https://www.spunweb.com/ containing information about the Company.

The Details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 during the year along with their status as at the end of the financial year

During the Financial Year, there was no application made and proceeding initiated/pending under the Insolvency and Bankruptcy Code, 2016, by any Financial and/or Operational Creditors against the Company. As on the date of this report, there is no application or proceeding pending against the company under the Insolvency and Bankruptcy Code, 2016.

Acknowledgements

Your directors wish to place on record their sincere appreciation for significant contributions made by the employees at all levels through their dedication, hard work and commitment, enabling the Company to achieve good performance during the year under review.

For and on Behalf of the Board of Directors
Spunweb Nonwoven Limited
Sd/-	Sd/-
JAY KAGATHARA	KISHAN KAGATHARA
Chairman & Managing Director	Whole Time Director
DIN:07335356	DIN: 09730384
Date: 29/08/2026
Place: Jalida, Rangpar