Sundaram Multi Pap Ltd Directors Report

Dear Shareholders,

On behalf of the Board of Directors, it is our pleasure to present the 32nd Annual Report together with the Annual Audited Financial Statements of Sundaram Multi Pap Limited (the Company) for the Financial Year ended on March 31, 2026.

1. FINANCIAL PERFORMANCE

The Financial Performance of the Company for the year ended March 31, 2026 on a Standalone basis is summarized below:

(Rupees in Lakhs except EPS)

Particulars	2025-2026	2024-2025
Revenue from Operations	13,711.25	12,742.55
Other Income	209.13	197.95
Total Income	13,920.38	12,940.50
Less: Total Expenses	13,643.99	13,281.97
Profit / (Loss) before exceptional items and tax	276.39	(341.47)
Exceptional Items	(41.56)	170.59
Profit / (Loss) before tax	317.95	(512.07)
Tax expense:
Current tax	-	-
Deferred tax	-	-
Income tax for earlier years	-	-
Profit /loss for the year	317.95	(512.07)
EPS (Basic & Diluted)	0.07	(0.11)

Note: The above figures are extracted from the Audited Standalone Financial Statements of the Company prepared in accordance with the Indian Accounting Standards (Ind AS).

2. SUMMARY OF OPERATIONS

During the Financial Year 2025-2026, the Company recorded a significant improvement in its operational and financial performance, driven by the sustained efforts of the management and the successful expansion of its business operations on a PAN India basis. The Companys operations, which were previously concentrated in the states of Maharashtra, Gujarat, and Goa, have now been extended across the country, contributing to enhanced business growth and revenue generation.

During the Financial Year 2025-2026, the companys Revenue from Operations stood at Rs.13,711.25/- Lakhs as compared to Rs.12,742.55/- Lakhs in previous Financial Year, registering a growth over the preceding year. The company reported Profit after tax of Rs.317.95/- Lakhs during the year as against loss of Rs.512.07/- Lakhs in previous Financial Year, reflecting a significant improvement in its overall financial performance.

3. TRANSFER TO RESERVE

The Board does not propose to transfer any amount to general reserve and has decided to retain the entire amount of profit for the Financial Year 2025-2026 in the profit and loss account.

4. DIVIDEND

In order to strengthen the financial position of the Company and after considering the relevant circumstances, the Board of Directors of your Company, has decided that it would be prudent, not to recommend any Dividend for the Financial Year ended on March 31, 2026.

5. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

There were no Unclaimed Dividend or Shares required to be transferred to Investor Education and Protection Fund (IEPF) during the Financial Year 2025-2026.

Shareholders /claimants whose shares, unclaimed dividend, have been transferred to the aforesaid IEPF Account or the Fund, as the case may be, may claim the shares or apply for refund by making an application to the IEPF Authority in Form IEPF-5 (available on http://www.iepf.gov.in) along with requisite fee, if any, as may be decided by the IEPF Authority from time to time.

6. SHARE CAPITAL

As on March 31, 2026, the Companys issued, subscribed and paid-up Equity Share Capital stood at Rs.47,38,77,773/- (Rupees Forty-Seven Crores Thirty-Eight Lakhs Seventy-Seven Thousand Seven Hundred and Seventy-Three Only) comprising of 47,38,77,773 (Forty-Seven Crores Thirty-Eight Lakhs Seventy-Seven Thousand Seven Hundred and Seventy-Three) Equity shares of Re.1/-(Rupee One Only) each.

During the year under review, your Company has not issued any shares or convertible securities with or without differential voting rights or granted stock options.

PREFERENTIAL ISSUE OF SHARE

During the year under review, an Extra-Ordinary General Meeting of the shareholders of the Company was convened on November 12, 2025 wherein shareholders approved the issuance of 7,04,00,000 Equity shares on preferential issue basis to non-promoter shareholders of the target company i.e. Sundaram Land and Assets Private Limited for consideration other than cash being payment to be made towards the acquisition of 27,50,000 Equity shares representing 52.38% shareholding of the target company.

Further during the meeting of Board of directors held on March 05, 2026 it was approved by the board after considering the communication as received from Sundaram Land and Assets Private Limited (Target company), wherein Target Company expressed its decision not to proceed further with the proposed share swap transaction and to withdraw the proposed preferential issue of 7,04,00,000 Equity Shares of the Company, as earlier approved by the shareholders at the H111\7 PYZ1\/T

7. CHANGE OF REGISTERED OFFICE

During the year under review, there was no change in the Registered office address of the Company.

8. CHANGE IN THE NATURE OF BUSINESS

During the year under review, there was no change in the nature of business of the Company.

9. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY, HAVING OCCURRED SINCE THE END OF THE FINANCIAL YEAR AND TILL THE DATE OF THE REPORT

There has been no material change or commitment, affecting the financial performance of the Company which occurred between the end of the Financial Year of the Company to which the Financial Statements relate and the date of this Report.

10. DISCLOSURE RELATING TO SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES

As on March 31, 2026 the Company does not have any subsidiary or associate company, nor has it entered into any joint venture with any other entity. Therefore, a statement containing the salient features of the Financial Statement of subsidiaries, associates, or joint ventures in the prescribed Form AOC-1 is not applicable to the Company.

11. DIRECTORS AND KEY MANAGERIAL PERSONNEL INCLUDING CHANGES IF ANY

> Directors

As on March 31, 2026, the Company has Six Directors with an optimum combination of Executive and Non-Executive Directors. The Board consisted of three Executive Directors and three Non-Executive Directors, of whom three were Independent Directors, including one Woman Independent Director.

> Changes in the Board during the year

During the Financial Year 2025-2026, there were no changes in the composition of Board of Directors and Key Managerial Personnel of the Company.

> Directors liable to retire by Rotation

As per the provisions of the Companies Act 2013, Mr. Shantilal P. Shah (DIN: 00033182), Whole-time Director of the Company, will retire by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment. The Board recommends his re- appointment.

As per the provisions of the Companies Act, 2013, Mr. Amrut P. Shah (DIN: 00033120), Managing Director of the company, Mr. Shantilal P. Shah (DIN: 00033182), Whole- time Director of the Company and Mr. Krunal S. Shah (DIN: 07877986), Whole- time Director of the Company

will be re-appointed for the further period of 3 (three) years commencing from April 01, 2027 to March 31, 2030 (both days inclusive). Based on the recommendation of Nomination and Remuneration committee and Audit committee, the Board recommends their re-appointment.

As per the provisions of the Companies Act, 2013, Mrs. Jyoti Chandrakant Gala (DIN: 03444610), Woman Independent Director of the Company and Mr. Mahesh Devji Bhanushali (DIN: 09629998), Independent Director of the Company will be re-appointed for a second term of 5 (five) consecutive years commencing from June 27, 2027 up to June 26, 2032 (both days inclusive). Based on the recommendation of Nomination and Remuneration committee the Board recommends their re-appointment.

An appropriate resolution along with explanatory statement has been incorporated in the Notice convening 32nd Annual General Meeting for re-appointment of the directors as mentioned above. The detailed profile of all the directors being re-appointed at the forthcoming AGM as required under Secretarial Standard on General Meetings and Regulation 36 of the Listing Regulations is provided separately by way of an Annexure to the Notice of the AGM.

> Key Managerial Personnel (KMP)

As on the date of this report, the following are the Key Managerial Personnel of your Company:

1. Mr. Amrut Premji Shah : Chairman & Managing Director

2. Mr. Shantilal Premji Shah : Whole-Time Director

3. Mr. Krunal Shantilal Shah : Whole-Time Director

4. Mr. Hardik Amrut Shah : Chief Executive Officer

5. Mr. Divij Shantilal Shah : Chief Marketing Officer

6. Mr. Yash Raichand Shah : Chief Operating Officer

7. Mr. Rajesh Jain : Chief Financial Officer

8. Ms. Urmi Shah : Company Secretary

> Meetings of the Board

During the Financial Year 2025-2026, Seven meetings of Board of Directors were held, the details of which are given in the Corporate Governance Report, which forms part of this Annual Report. The intervening gap between the meetings was within the period prescribed under the Act.

> Committees of the Board

As on March 31, 2026 Company has four Committees viz. Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee and CSR Committee.

The Committees play a crucial role in the governance structure of the Company. They are entrusted with the responsibility to review and oversee specific matters requiring focused attention and operate in accordance with their respective terms of reference, as approved by the Board.

During the Financial Year 2025-2026, all recommendations made by the committees were approved by the Board. The composition ofthe Committees ofthe Board and the details regarding meetings of the Committees constituted by the Board are set out in the Corporate Governance Report, which forms part of this Annual Report.

12. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134(3)(c) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability hereby confirmed that:

a) In the preparation of the annual accounts for the Financial Year ended on March 31, 2026, the applicable accounting standards had been followed along with proper explanation relating to material departures;

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 of the company for that period;

c) The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets ofthe company and for preventing and detecting fraud and other irregularities;

d) The directors have prepared the annual accounts for the Financial Year ended on March 31, 2026 on a going concern basis; and

e) The Directors had laid down Internal Financial Controls to be followed by the company and that such internal financial controls are adequate and operating effectively.

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

13. POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION AND OTHER DETAILS

The Current policy is to have an appropriate proportion of Executive and Non-Executive Directors, including Independent directors to maintain the independence of the Board, and separate its functions of governance and management. As on March 31, 2026, the Board consists of six members, including one Managing Director, two Whole-Time Directors and three Independent Directors (one of whom is a woman independent director).

On the recommendation of the Nomination & Remuneration Committee (NRC), the Board has adopted and framed a Remuneration Policy for the Directors, Key Managerial Personnel and other employees pursuant to the applicable provisions of the Act and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The remuneration payable to Executive Directors, KMPs and Senior Management Personnel is determined on the recommendation ofthe NRC and subject to the approval of the Board of Directors. The Executive Directors are not paid sitting fees; however, the Non-Executive Directors are entitled to sitting fees for attending the Board / Committee Meetings. The Non-Executive Directors have renounced the sitting fee for the Financial Year 2025-26. Thus, the remuneration paid to Directors, KMPs, Senior Management Personnel and all other employees are in accordance with the Remuneration Policy of the Company.

The information with respect to the Companys policy on directors appointment and remuneration of directors including the criteria for determining qualifications, positive attributes, independence of a director and other matters provided under section 178 of the Companies Act, 2013 and Regulation 19 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is available on Companys website on www.sundaramgroups.in.

Familiarization program for Independent Directors

Pursuant to the provisions of Regulation 25(7) of the SEBI Listing Regulations read with Schedule IV of the Act, the Company has in place a Familiarization Program for its Independent Directors. The Independent Directors attend a Familiarization Program on being inducted into the Board and on periodic basis every year. Thus, it benefits Independent Directors with periodical updates on regulatory front, industry developments and any other significant matters of importance. The Company also issues a formal letter of appointment to the Independent Directors, outlining their role, function, duties and responsibilities.

The detail of Familiarization Program is available on the Companys website on www.sundaramgroups.in.

14. BOARD EVALUATION

Pursuant to the applicable provisions of the Companies Act, 2013 and the SEBI (LODR) Regulations, 2015, the Board has carried out an Annual Evaluation of its own performance, performance of the individual Directors and the working of its committees, based on the evaluation criteria defined by NRC for performance evaluation process of the Board, its committees and individual Directors.

The performance of the Board as a whole was evaluated by the Board after seeking inputs from all the directors on the basis of criteria such as the Board composition and structure, effectiveness of board processes, availability and adequacy of information and functioning, etc.

The performance of the Committees was evaluated by the Board after seeking inputs from the Committee members on the basis of criteria such as the composition of committees, effectiveness of Committee meetings, discharge of their respective functions and responsibilities etc.

The Independent Directors at their separate meeting held during the year, reviewed the performance of the Non- Independent Directors and the Board as a whole and evaluated the performance of the Chairperson taking into account the views of the Executive and Non-Executive Directors. The Independent Directors also assessed the quality, quantity and timeliness of the flow of information between the management and the Board.

Performance evaluation of Independent Directors was done by the entire Board, excluding the Independent Director being evaluated.The overall outcome of the Board evaluation process was positive and the Directors expressed satisfaction with the performance and effectiveness of the Board, its Committees and Individual Directors.

15. DECLARATION BY INDEPENDENT DIRECTORS

Your Company has received declarations from all the Independent Directors of the Company confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 along with Rules framed thereunder read with the Schedules as well as Regulation 16(1)(b) and 25(8) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In the opinion of the Board, all the Independent Directors possess the integrity, expertise and experience including the proficiency required to be Independent Directors of the Company.

The Independent Directors of the Company have registered themselves with the data bank maintained by Indian Institute of Corporate Affairs (IICA).

16. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has established adequate Internal Financial Controls with reference to the financial statements. The Companys internal financial controls and systems are adequate commensurate with the nature and size of the Company and it ensures compliance with the policies and procedures adopted by the Company for ensuring the orderly and efficient conduct of its business, including adherence to its policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information.

The Companys internal control procedures which include internal financial controls, ensure compliance with various policies, practices and statutes and keeping in view the organizations pace of growth and increasing complexity of operations. This ensures safeguarding of assets and properties of the Company and protects against unauthorized use and disposal of the assets.

The Audit Committee periodically reviews the adequacy and effectiveness of internal control systems and provides guidance for continuous improvement and strengthening.

17. FRAUDS REPORTED BY THE AUDITOR

There was no instance of fraud during the year under review, which required the Statutory Auditors to report to the Audit Committee and / or to the Board as required under Section 143(12) of the Act and the rules made thereunder.

18. RELATED PARTY TRANSACTIONS

All Related Party Transactions that were entered into during the Financial Year under review were on an Arms length basis and in the ordinary course of business and are in compliance with the applicable provisions of the Act and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. During the year, the Company had not entered into any contract/ arrangement/ transaction with related parties in terms of Section 188 of the Companies Act, 2013 and hence, Form AOC-2 pursuant to the provisions of Section 134(3)(h) of the Companies Act, 2013 and rule 8(2) of the Companies (Accounts) Rules, 2014 is not applicable and does not form part of this report.

Further, there were no materially significant Related Party Transactions entered by the Company during the year that required shareholders approval under Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Policy on Materiality of Related Party Transactions and on dealing with Related Party Transactions as approved by the Board may be accessed on the Companys website at www.sundaramgroups.in. There were no materially significant related party transactions which could have potential conflict with interest of the Company at large. The details of the Related Party Transactions are set out in the Note no. 29 to the Financial Statements forming part of this Annual Report.

19. CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION & ANALYSIS REPORT

Corporate Governance

Corporate Governance is all about ethical conduct, integrity and accountability. Good Corporate Governance involves a commitment of the Company to run the business in a legal, ethical and transparent manner and runs from the top and permeates throughout the Organization. It is a key element improving the economic efficiency of Organization. A report on Corporate Governance as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is provided in a separate section and forms part of the Annual Report. A Certificate from M/s. GR Shah and Associates,

Practicing Company Secretary regarding compliance with Para E of Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is attached to this report forming part of the Corporate Governance Report.

Disclosures required under heading "Corporate Governance" in terms of Section II Part II of Schedule V of Companies Act, 2013 are provided under corporate governance report forming part of this annual report.

A Compliance Certificate of the CEO and CFO of the Company in terms of Schedule II Part B read with Regulation 17(8) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, inter alia, confirming the correctness of the Financial Statements and Cash Flow Statements, adequacy of the internal control measures and reporting of matters to the Audit Committee, is annexed as Annexure-B. Also, a declaration signed by the Chief Executive Officer stating that members of the board and senior management personnel have affirmed the compliance vide Code of Conduct for the board and senior management is attached to the report on corporate governance as Annexure-A.

Management Discussion & Analysis Report

The detailed operational performance of your Company has been comprehensively disclosed in the Management Discussion and Analysis Report which forms an integral part of this Annual Report as an Annexure-3.

20. AUDITORS

i) Statutory Auditor

In accordance with Section 139 of the Companies Act, 2013 and the rules made there under, M/s. Ashok Shyam & Associates, Chartered Accountants, (Firm Registration No. 011223N) was appointed as Statutory Auditors of the Company in the AGM held on September 27, 2024, from the conclusion of that Annual General Meeting until the conclusion of the 35th Annual General Meeting of the Company to be held in the calendar year 2029. They have confirmed their eligibility and qualification required under Sections 139, 141 and other applicable provisions of the Companies Act, 2013 and the Rules framed there under for continuation as Auditors of the Company. The Independent Auditors Report for the Financial Year ended on March 31, 2026 on the Financial Statements of the Company forms part of this Annual Report.

Statutory Auditors Observations

The observations of the Statutory Auditors in their report read with relevant notes to the accounts are self-explanatory and therefore do not require any further explanations. The Statutory Auditors Report on Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, does not contain any qualifications, reservations or adverse remarks.

ii) Secretarial Auditor

Pursuant to the provisions of Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and Section 204 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Members of the Company at the 31st Annual General Meeting approved the appointment of M/s. G R Shah and Associates, Company Secretaries, as the Secretarial Auditors of the Company for a term of 5 (Five) consecutive years commencing from the Financial Year 2025-26 to Financial Year 2029-30.

Secretarial Auditors Observations

The Secretarial Audit Report of the Company in Form MR-3 as issued, by M/s. GR Shah and Associates, Company Secretaries for the Financial Year 2025-2026 under the Act, Rules made thereunder and Regulation 24A of the SEBI LODR Regulations, is disclosed as Annexure-1 and Annexure-1(A) respectively, which forms part of this Report.

The Secretarial Auditor has confirmed that Company has complied with the applicable laws and that there are adequate systems and processes in the Company which commensurate with its size and scale of operations to monitor and ensure compliance with the applicable laws.

During the financial year 2025-2026, the Secretarial Audit Report and/or Secretarial Compliance Report does not contain any qualification, reservation, adverse remark or disclaimer.

iii) Internal Auditor

M/s. F. A. Ansari & Associates, Chartered Accountants, were appointed as Internal Auditors of the Company for Financial Year 2025-2026 to periodically audit the adequacy and effectiveness of the internal controls laid down by the management and to suggest improvements. During the year, no material weakness in our operating effectiveness was observed.

The Board based on the recommendation of the Audit Committee has appointed M/s. R. I. Jain & Co., Chartered Accountants, as Internal Auditors, to undertake audit of the Internal Control Systems of the Company for the Financial Year 2026-2027.

During the financial year 2025-2026, the Internal Audit Report does not contain any qualification, reservation, adverse remark or disclaimer.

iv) Cost Auditor

Pursuant to Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014 the Cost Audit Report is not mandatorily applicable to our Company; hence, no such audit has been carried out during the year.

21. CREDIT RATING

During the Financial Year 2025-2026, the Company has not issued any debt instruments or borrowed funds in excess of the limits which necessitate any credit rating.

22. DEPOSITS

During the year under review Company has not accepted any deposits from the public within the meaning of Chapter V of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014. No amount on account of principal or interest on deposits from the public was outstanding as on March 31, 2026. Hence there are no details to be disclosed under Rule 8(5)(v) of the Companies (Accounts) Rules, 2014.

23. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are provided as part of the notes to the Standalone Financial Statements of the Company.

24. RISK MANAGEMENT

The Company recognizes that risk is an integral part of business and is committed to managing the risks in a proactive and efficient manner. The Company has developed and implemented a robust Risk Management Policy to identify, assess and mitigate the risks. The main objective of the policy is to ensure sustainable business growth with stability and to promote a pro-active approach in reporting, evaluating, and resolving risks associated with the Companys business.

The Company has adopted a Risk Management Policy in accordance with the provisions of the Act and Regulation 21 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and with respect to the formation of the Risk Management Committee; however, it is not applicable to the Company.

During the Financial Year 2025-2026, the Company had identified and evaluated internal and external risks associated with its business operations and implemented appropriate mitigation measures to overcome such risks. The risks were periodically reviewed to ensure effective tracking and mitigation. A detailed analysis of internal and external risks is provided in the Management Discussion and Analysis Report which forms part of this report.

In accordance with Regulation 21 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Board members were regularly informed about risk assessment and minimization procedures after which the Board formally adopted steps for framing, implementing and monitoring the risk management plan for the company.

The Risk Management Policy has been posted on the website of the Company at www.sundaramgroups.in.

25. WHISTLE BLOWER POLICY /VIGIL MECHANISM

The Company has adopted a code of ethics and business conduct which lays down principles and standards that should govern the actions of the Company and employees. The Company has a vigil mechanism called Whistle Blower Policy with a view to provide a mechanism for employees of the Company to raise concerns of any violations of any legal or regulatory requirement, incorrect or misrepresentation of any financial statements and reports etc. The Company is committed to adhering to the highest standard of ethical, moral and legal conduct of business operations.

The Policy provides adequate safeguards against the victimization of employees, who avail the mechanism and provides employees with direct access to the Chairman of the Audit Committee. The Whistle Blower and Vigil Mechanism Policy of the Company is available on the website of the Company and can be accessed at www.sundaramgroups.in.

26. POLICY ON PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL HARASSMENT AT WORKPLACE

The Company has zero tolerance for sexual harassment at workplace and has in place an Anti-Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH) and the rules made thereunder. The Policy aims to provide protection to employees at workplace and prevent and redress complaints of sexual harassment and for matters connected or incidental thereto, with the objective of providing a safe working environment, where employees feel secure.

An Internal Complaints Committee (ICC) has been established to redress the Complaints regarding sexual harassment. All employees (permanent, contractual, temporary and trainees) are covered under this policy. ICC has its presence at corporate offices as well as at site locations of the Company.

The details of Sexual Harassment complaints for the Financial Year ended March 31, 2026, are furnished as under:

Particulars	No. of complaints
Number of complaints of sexual harassment received during the year	Nil
Number of complaints disposed of during the year	Nil
Number of complaints pending as on March 31, 2026	Nil
Number of cases pending for more than 90 days	Nil

27. DISCLOSURES UNDER THE MATERNITY BENEFIT ACT, 1961

The Company is committed to ensuring a safe, inclusive, and supportive workplace for women employees. The Company has complied with the provisions of The Maternity Benefit Act, 1961, including amendments and rules framed thereunder, to the extent applicable.

28. CORPORATE SOCIAL RESPONSIBILITY (CSR)

In line with the provisions of Section 135 of the Companies Act, 2013 and the rules framed there under with respect to the Corporate Social Responsibility (CSR), your Company has constituted a CSR Committee to recommend and monitor expenditure on CSR and has also approved a CSR Policy. The Companys policy on CSR is put up on the website of the Company at the link www.sundaramgroups.in.

In terms of the requirements of Companies Act, 2013, the management was not required to conduct any CSR related activities or incur any expenditure towards CSR in the Financial Year 2025-2026.

29. EXTRACT OF ANNUAL RETURN

As per the requirements of Section 92(3) and 134(3) of the Act read with the Companies (Management and Administration) Rules, 2014, the extract of the Annual Return for Financial Year 2025-2026 will be uploaded on the website of the Company and can be accessed through the link www.sundaramgroups.in.

30. REMUNERATION OF DIRECTORS AND EMPLOYEES OF LISTED COMPANIES

Disclosures pertaining 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 in the Annexure-2 to this Report.

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 are mentioned in Annexure-2 to this report.

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

The particulars relating to Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo, as required to be disclosed under Section 134 of the Companies Act, 2013 read with rule made thereunder are given below:

> CONSERVATION OF ENERGY

Steps taken on conservation of energy and for utilizing alternate sources of energy:

The Operations of the Company are minimum energy intensive. However, your Company continues to remain vigilant in identifying and implementing energy-efficient measures in its operations and values conservation of energy through the use of modern technologies for improving productivity and the quality of products and services. Listed below are the initiatives introduced to enhance energy efficiency:

a) The Company continues to encourage the optimal use of electrical equipment and machinery to avoid unnecessary consumption of energy.

b) The factory premises are designed with transparent roofing structures, which allow adequate natural daylight into the working area, thereby significantly reducing dependence on artificial lighting during daytime operations and contributing to energy savings.

c) The Company has reduced the usage of paper in the normal course of transaction in order to save paper and save environment.

d) Company has installed highly efficient machineries which help in conservation of energy and also factory premise is equipped with energy saving lamps.

e) Natural lighting is utilized in manufacturing areas to minimize power consumption, complemented by the installation of energy-efficient LED lighting across all factory locations.

f) Continuous monitoring of floor areas after normal working hours and switching off lights and Air- conditioning.

The overall effect of the above measures has led to reduction of energy consumption.

The capital investment on energy conservation equipment:

During the year, the Company incurred capital expenditure towards the acquisition of a new fully automatic notebook manufacturing machine and transport vehicles to support its operational requirements and enhance logistics efficiency. The newly installed machine is energy- efficient, reduces raw material wastage, and has a lower carbon footprint. The transport vehicles acquired during the year are also more fuel-efficient, thereby contributing to optimized fuel consumption and improved operational efficiency.

The Company continues to invest in energy-efficient equipment and systems as part of its ongoing commitment to energy conservation, environmental sustainability and enhanced operational efficiency.

> TECHNOLOGY ABSORPTION

Since business and technologies are changing constantly, investment in research and development activities is of paramount importance. The Company is equipped with fully auto book manufacturing machine and has also adopted partly automation process. This has resulted into the reduction in the labor cost and the cycle time from raw material to the final output of the product. This technology has helped the company to increase the output with better quality and low amount of wastage.

> FOREIGN EXCHANGE EARNINGS AND OUTGO

Details of Foreign Exchange earnings & Outgo if any, are given in notes forming parts of Financial Statements.

32. MATERIAL ORDERS OF JUDICIAL BODIES /REGULATORS

During the year under review no significant or material orders were passed by the Regulators or Courts or Tribunals against the Company or its Directors which may impact the going concern status of the Company or its operations in future or the Directors of the Company in any manner.

33. LISTING AND DEMATERIALISATION

The International Securities Identification Number (ISIN) allotted to the Companys shares by the Depositories is INE108E01023.

The Equity Shares of the Company are listed on the BSE Limited (Scrip ID: 533166) & National Stock Exchange of India Limited (Symbol: SUNDARAM). The Shareholders holding shares in physical form are requested to dematerialize their shares as the Companys shares are required to be compulsorily traded at the stock exchanges in dematerialized form only.

The details of dematerialized Equity Shares of the Company as on March 31, 2026, are stated as follows:

Particulars	No. of Shares	% of Total Issued Capital
Demat Segment
NSDL	17,47,47,344	36.88
CDSL	29,86,93,264	63.03
Physical Segment	4,37,165	0.09
Total	47,38,77,773	100

34. CASH FLOW AND CONSOLIDATED FINANCIAL STATEMENTS

As required under the Regulation 34(2) of the SEBI LODR Regulations, a Cash Flow Statement is part of the Annual Report 2025-2026. Since, the Company does not have any subsidiary, associate or joint venture hence company is not required to prepare the Consolidated Financial Statements for the Financial Year 2025-2026.

35. PREVENTION OF INSIDER TRADING

The Company has also adopted a code of conduct for prevention of insider trading. All the Directors, Senior Management employees and other employees who have access to the Unpublished Price Sensitive Information of the Company are governed by this code. During the year under report, there has been due compliance with the said code of conduct for prevention of insider trading based on the SEBI (Prohibition of Insider Trading) Regulations 2015.

The Company has also put in place requisite Structured Digital Database (SDD) system for the Designated Persons (DPs) to protect the confidentiality of Unpublished Price Sensitive Information (UPSI) of the Company.

36. RECONCILIATION OF SHARE CAPITAL AUDIT

As directed by the Securities and Exchange Board of India (SEBI), Reconciliation of Share Capital Audit has been carried out by M/s. G R Shah and Associates, Practicing Company Secretary, during the Financial Year 2025-2026.

37. COMPLIANCE WITH SECRETARIAL STANDARDS

The Company hereby affirm that during the year under review it has complied with all the applicable Secretarial Standards (including any modifications or amendments thereto) issued by the Institute of Company Secretaries of India.

38. GREEN INITIATIVES

In commitment to keep in line with the Green Initiatives and going beyond it, electronic copy of the Notice of 32nd Annual General Meeting of the Company including the Annual Report for FY 2025-2026 are being sent to all Members whose e-mail addresses are registered with the Company and Depository Participant(s).

39. OTHER DISCLOSURES/REPORTING

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

i. The Company has not issued equity shares with differential rights as to dividend, voting or otherwise;

ii. No application has been made under the Insolvency and Bankruptcy Code; hence the requirement to disclose the details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year along with their status as at the end of the Financial Year is not applicable;

iii. There was no revision of Financial Statements and Boards Report of the Company during the year under review;

iv. The requirement of disclosure with respect to Business Responsibility and Sustainability Report (BRSR) under the provisions of Regulation 34(2)(f) of the SEBI LODR Regulations is not applicable to the Company.

40. CAUTIONARY STATEMENT

Statements in this Directors Report and Management Discussion and Analysis Report describing the Companys objectives, projections, estimates, expectations or predictions may be "forward-looking statements" within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make difference to the Companys operations include raw material availability and its prices, cyclical demand and pricing in the Companys principal markets, changes in Government regulations, Tax regimes, economic developments within India and the countries in which the Company conducts business and other ancillary factors.

41. APPRECIATION

Your directors take this opportunity to appreciate the continued co-operation and support extended by the Investors, Shareholders, Consumers, Customers, Vendors, Bankers, Consultants, Government agencies and most importantly all its Employees during the Financial Year.

The Directors also place on record their sincere appreciation of the contribution made by all the stakeholders for placing their faith and trust on the Board.

Further, board of director of the company also values the contribution made by each and every member of the SUNDARAM family.

For and on behalf of the Board of Directors
Sundaram Multi Pap Limited
Sd/-	Sd/-
Amrut P. Shah	Shantilal P. Shah
DIN:00033120	DIN:00033182
Chairman & Managing Director	Whole-time Director
Date: August 13, 2026
Place: Mumbai