Swaraj Suiting Ltd Management Discussions

ECONOMIC OVERVIEW GLOBAL ECONOMY

The global economy registered a growth of 3.3% in 2024, signalling a degree of stability despite restrained momentum. However, 2025 has brought about increased volatility, shaped by evolving trade policies, rising geopolitical tensions, and enduring structural macroeconomic challenges. A significant inflection point occurred in April 2025, when the US introduced near-universal tariffs, prompting widespread retaliatory measures. These developments disrupted global trade patterns, triggered corrections across financial markets, and contributed to a rise in global bond yields.

In this shifting global landscape, GDP growth is projected to slow to 2.8% in 2025, with a modest recovery anticipated at 3.0% in 2026.

Inflation has remained more persistent than earlier forecasts suggested. Headline inflation is expected to average 4.3% in 2025, driven primarily by rising input and logistics costs. Core inflation continues to be elevated, particularly in the services sector, complicating the monetary policy decisions of central banks globally.

(Source: IMF World Economic Outlook, April 2025)

INDIAN ECONOMY

Indias economy grew by 6.5% in 2024-25, according to the National Statistics Offices second advance estimates released in February 2025. This growth was achieved despite ongoing global uncertainties, including trade tensions and geopolitical disruptions, and highlights the resilience of Indias domestic demand as well as the effectiveness of its calibrated policy interventions.

Indias GDP Growth

2022-23	2023-24	2024-25 (Esimated)
7.6 %	9.2 %	6.5 %

(Source: https://www.pib.gov.in/ PressReleasePage. aspx?PRID=2106921)

INDUSTRY OVERVIEW

GLOBAL TEXTILE INDUSTRY

The global textile market is positioned for continued expansion, supported by shifting consumer references, rapid technological progress, and evolving global dynamics. The market is expected at USD 696.16 Billion in 2025. Looking ahead, the market is projected to reach USD 915.96 Billion by 2029, at a CAGR of 7.1% over the forecast period. This strong growth trajectory underscores the industrys adaptability, resilience, and capacity to thrive amidst changing economic, technological, and environmental conditions. As economic development reshapes consumption patterns, demand continues to grow across segments such as apparel, home furnishings, and technical textiles.

The rise of fast fashion and the proliferation of e-commerce platforms have amplified demand for a diverse range of fabrics, prompting manufacturers to invest in more agile and innovative production systems that can rapidly respond to evolving market needs and reduce time-to-market across product categories.

Sustainability has emerged as a key priority, with increasing consumer preference for environmentally responsible products. This is driving the development and adoption of textiles made from recycled materials, organic fibres, and renewable resources. As the sustainability imperative gains momentum, it is expected to reshape production practices and guide investment flows across the textile value chain.

The industry is also undergoing a significant structural transformation powered by the rise of smart textiles and the adoption of advanced digital manufacturing technologies. Smart textiles, or e-textiles, are engineered to respond to environmental stimuli such as temperature, pressure, and humidity. These intelligent fabrics incorporate sensors and conductive materials to enable functionalities such as health monitoring, thermal regulation, and data transmission. Their adoption is gaining momentum, particularly in high-performance segments including sportswear, healthcare, and defence, where innovation and functionality are critical differentiators.

Simultaneously, the integration of Industry 4.0 technologies including automation, robotics, artificial intelligence, and advanced processes like 3D knitting and digital printing is reshaping manufacturing operations. These innovations are enhancing production efficiency, enabling on-demand manufacturing, reducing material waste, and facilitating greater product customisation. AI-driven analytics are also increasingly instrumental in optimising supply chains, enhancing quality control, and improving responsiveness to shifting market dynamics.

(Source: https://www.thebusinessresearchcompany.com/report/ textileglobal-market-reportResearch and Markets - Global Textiles Market)

INDIAN TEXTILE INDUSTRY

Indias textile industry is one of the most significant contributors to the national economy accounting for approximately 2.3% of GDP, 13% of industrial production, and over 8% of total exports. With a legacy deeply rooted in cultural heritage and a strong base across natural and synthetic fibres, the industry spans the full value chain from farm to fashion. It is also among the largest employers in the country, offering direct employment to more than 45 Million people, with the majority engaged in rural and semi-urban clusters, especially within MSMEs.

(Source: https://www.textilesphere.com/2024/11/indian-textile-industry-outlook-2025.html)

India ranks among the top global producers of cotton, jute, silk, and man-made fibres, with a diversified manufacturing ecosystem encompassing both traditional handloom sectors and modern, technology-enabled textile clusters. This sectors inclusive growth model bolstered by national initiatives such as Skill India, Make in India, and Startup India, continues to drive employment generation and foster entrepreneurship across the country.

(Source: https://www.pib.gov.in/PressReleasePage. aspx?PRID=2117470)

Man-Made Fiber Industry

The Indian MMF industry continues to evolve in alignment with global trends favouring synthetic and blended textiles. India retained its position as the worlds second largest producer of MMF, with output reaching approximately 1,700 Million kg of fibres and 3,400 Million kg of filaments in 2024-25. Demand for polyester-viscose (PV) blends remained robust due to their affordability, durability, and versatility in diverse end-use applications.

The governments strategic push under the Rs.10,683 Crore Production- Linked Incentive (PLI) scheme for MMF-based apparel and technical textiles has catalysed investment across the value chain. Global sourcing preferences are increasingly favouring reliable, vertically integrated suppliers like India, with new markets opening in Eastern Europe, Latin America, and Central Asia.

(Source:https://ministryoftextiles.gov.in/sites/default/files/

Indian%20Manmade%20fibre%20textile%20industry.pdfhttps://texmin.nic.in/pli-scheme-textiles)

Cotton Yarn Industry

India retained its position as the worlds largest cotton producer, with 2024-25 production estimated at 302.25 Lakhs bales (170 kg each), supported by favourable climatic conditions and stable input costs. The cotton yarn industry saw a measured recovery, aided by improved cotton price stability, better export realisation, and rising demand from both the domestic weaving sector and international buyers.

ICRA forecasts indicate 6-8% revenue growth for the spinning industry in 2024-25, backed by a 4-6% increase in volumes and improved spreads. Key export markets such as China, Bangladesh, and the US continued to constitute the bulk of Indias cotton yarn exports, while domestic consumption gained traction, supported by higher fabric and garment production. Indias well-integrated spinning ecosystem, availability of skilled labour, and inherent cost efficiencies further reinforce its global competitiveness in the cotton yarn segment.

(Source: https://www.fashionatingworld.com/new1-2/india-cotton- production-to-rise-to-302-25-lakh-hales-in-2024-25-season

https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/indian-cottonspinning-industry-expected-to-recover-in-fy25-icra-report/articleshow/111782851.cms)

GOVERNMENT INITIATIVE

Impact of Make in India on the Textile Industry

The Make in India initiative has been instrumental in revitalising Indias textile and apparel industry by attracting investment, upgrading infrastructure, and driving modernisation across the value chain. Through a series of targeted schemes and policy interventions, the government has substantially improved the sectors global competitiveness, especially in MSME driven manufacturing clusters.

(Source: https://www.makeinindia.com/sector/textiles-and- garments)

PM Mitra Parks

To address infrastructure gaps and enable end-to-end integration, the PM MITRA (Mega Integrated Textile Region and Apparel) Parks scheme is establishing seven world-class parks across Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu, Karnataka, Uttar Pradesh, and Telangana. With a total budget of Rs.4,445 Crore, these parks are designed to reduce logistics costs, attract FDI, and strengthen Indias global supply chain linkages.

(Source: https://pib.gov.in/PressReleasePage. aspx?PRID=1806659https://www.texmin.nic.in/pm-mitra)

Textile Cluster Development Scheme (TCDS)

TCDS aims to enhance the operational viability of textile clusters by providing shared infrastructure and service linkages. Backed by Rs.853 Crore, the scheme has created over 1.22 Lakhs employment opportunities as of 2024-25, facilitating economies of scale and better

access to technology.

(Source: https://texmin.nic.in/tcdshttps://texmin.nic.in/ documents/annual-reports)

Production-Linked Incentive Scheme

The PLI Scheme for Textiles, with an outlay of Rs.10,683 Crore, has been introduced to incentivise large-scale manufacturing of MMF and technical textiles. It offers financial incentives to companies investing in high-value segments such as performance fabrics and functional apparel, with the objective of enhancing exports and creating employment opportunities in advanced product categories.

(Source: https://texmin.nic.in/pli-scheme-textileshttps://pib.gov.in/ PressReleasePage.aspx?PRID=1780271)

Samarth Initiative

The Samarth Scheme focuses on skill development to bridge the industrys workforce gaps. In 2023-24, Rs.115 Crore was sanctioned under the scheme, with over 3.82 Lakh individuals trained and 2.97 Lakhs (77.74%) successfully placed as of March 2025. The programme is preparing the textile workforce for a more automated and technology-driven future.

(Source: https://samarth-textiles.gov.in/https://pib.gov.in/ PressReleasePage.aspx?PRID=1996074)

National Technical Textiles Mission (NTTM)

With a budget of Rs.1,480 Crore for a period from 2020-21 to 202526, the NTTM is strengthening Indias position in the global technical textiles market. The mission focuses on R&D, education, and export promotion in high-value segments like medical, agro, and geo textiles. As of January 2025, 168 projects worth Rs.509 Crore had been approved under this initiative.

(Source: https://technicaltextiles.gov.in/nttmhttps://pib.gov.in/ PressReleasePage.aspx?PRID=2002059)

Union Budget 2025-26 Measures

Reinforcing the sectors upward trajectory, the Union Budget 2025-26 raised the Ministry of Textiles allocation by 19% to Rs.5,272 Crore. Key measures included the introduction of a five-year Cotton Mission aimed at improving extra-long staple (ELS) cotton productivity, a customs duty exemption on select shuttle-less looms to support weaving modernisation, and an increase in duties on knitted fabric imports to safeguard domestic manufacturers. The budget also extended support to handicrafts by lengthening export timelines and allowing duty-free input additions, while MSMEs were further empowered through enhanced credit access and the launch of Bharat Trade Net, a digital platform designed to streamline export documentation.

(Source: https://www.indiabudget.gov.in/doc/eb/sbe83.pdf

https://www.financialexpress.com/business/budget/budget-2025- textile-sector-highlights-3371251 https://www.indiabudget.gov.in)

COMPANY OVERVIEW

The Company operates its manufacturing activities across three strategically located units in India:

• Bhilwara Unit: Located at F-483 to F-487, RIICO Growth Centre, Hamirgarh, District Bhilwara, in the state of Rajasthan.

• Neemuch Unit-1: situated at B-24 to B-41, Industrial Area,

Jhanjharwara, District Neemuch &

• Neemuch Unit-2: located at Survey No. 93/2, 96/1, 98.6, 103/1, & 104, Village Soniyana, Tehsil Jiran, District Neemuch, in the state of Madhya Pradesh.

At Bhilwara Unit, the Company currently operates 123 Air Jet Looms with a combined weaving capacity of 2.10 crore meters of fabric per annum. We have consistently focused on modernizing and expanding our infrastructure to remain aligned with industry trends. The facilities are equipped with state-of-the-art, automated machinery designed to maximize productivity, enhance operational efficiency, and improve cost competitiveness.

In FY 2022-23, the Company commenced commercial production at its Denim and Finishing Processing Plant at Neemuch Unit-1. This facility has an annual capacity to process approximately 1.80 crore meters of finished fabric and is supported by two Indigo Dyeing Range lines, offering significant backward integration benefits, particularly for the Bhilwara Unit.

In line with our strategic expansion roadmap, several capacity enhancement initiatives were undertaken during FY 2024-25:

• At Neemuch Unit-1, an additional 72 Air Jet Looms were installed, adding 1.23 crore meters of weaving capacity per annum and A new Indigo Dyeing Range line was also commissioned at this unit, with a processing capacity of 72 lakh meters of fabric per annum. Commercial production for both projects commenced in July 2024.

• Further, strengthening our backward integration capabilities, the Company successfully commissioned its first Spinning Project at Neemuch Unit-2, comprising 22,656 spindles with an installed capacity of 7,344 tons of yarn per annum in March, 2025.

In addition, a new Cotton Processing Unit was commissioned at Neemuch Unit-1, with an installed capacity of 2.40 crore meters of fabric per annum. Commercial operations for this unit began in July 2025.

These new projects and expansions represent a significant leap forward in the Companys integrated manufacturing capabilities. They are aligned with our long-term strategic objectives of enhancing production capacity, improving operational efficiency, and creating sustainable value for all stakeholders.

OPERATIONAL PERFORMANCE

• The Company has recorded total revenue from operations during the Financial year 2024-25 of Rs.41,656.84 Lakh against the total revenue of Rs.31,958.84 Lakh in the previous financial year 2023-24, with a significant growth of 30,.35%, of the consolidated as well as standalone revenue.

• The Total expenses of the Company during the financial year 2024-25 is Rs.37,376.46 Lakh against the expenses of Rs. Rs.30,111.68 Lakh in the previous financial year 2023-24.

• The operating profit (PBITDA) of the Company has increased to Rs.7501.53 lakh in the current year under review as compared to Rs. 4563.60 lakh in the previous year, a significant growth of about 64.38%.

• The Cash profit (PBDT) of the Company for the current year has increased to Rs.5595.85 lakh as against Rs.3239.96 lakh, an impressive spike of about 72.71 % over the previous year.

• The Profit after Tax (PAT) of the Company has increased to 3331.65 lakh for the current year as against Rs.1819.61 lakh in the previous year and registered a significant upsurge of about 83.10 %.

SEGMENT WISE AND PRODUCT WISE PERFORMANCE

The companys primarys business segment is manufacturing of denim/synthetic/cotton fabric although the company engaged in trading of yarn, Grey & Finished Fabric and weaving on job work basis.

Revenue from operations	2024-25	2023-24
Finish Fabric
-Domestic	33778.60	26666.18
-Export	2254.00	320.23
Grey Sales	3745.75	1553.25
Yarn Sales	170.28	1097.00
Sale of Service (Job Work)	1708.21	2322.19

OPPORTUNITIES

• Rising global demand and geopolitical shifts are creating favourable supply chain opportunities, positioning India better than China, Vietnam, and Bangladesh

• Indias expanding domestic market, fuelled by a growing middle class, e-commerce growth, and Gen Z consumption trends, is driving strong demand.

• The Government of India has come up with a number of initiatives to support the textile industry, such as the PLI Scheme and Mega Integrated Textile Region and Apparel (MITRA) Parks. This will enable the textile industry to become globally competitive, boost employment generation and attract investments in value added segments.

• The UK imports USD 20 billion in textiles, with India holding a 5% share. The FTA strengthens Indias position against Bangladesh and Vietnam.

• Government of India has introduced Kasturi Cotton, a cleaner, greener alternative. This eco-friendly cotton from India is designed to reduce environmental impact while meeting the growing demand for sustainable cotton for fashion brands.

• Rapid advancements in automation, AI, and smart textile innovation are reshaping the manufacturing landscape. Digital platforms are enabling greater end-to-end supply chain visibility, enhancing quality control, and driving operational efficiency.

THREATS

• The Indian textile sector is challenged by supply chain fragmentation and inefficient logistics systems. Delays in raw material procurement and inconsistent quality further heighten production costs.

• Complex regulations and trade barriers, including burdensome export procedures and limited FTAs, disadvantage India against competitors like Vietnam in major markets.

• Fast fashion and rising textile waste pose growing concerns, with Indias recycling market still small despite expected growth amid global waste projections for 2030.

• Tariff barriers and other restrictive trade practices by certain countries poses challenges for growth and competitiveness of Indian Textiles Industry

• India faces strong competition from countries like Bangladesh and Vietnam, which offer lower labour costs and enjoy referential trade agreements with key importing nations. To remain competitive, Indian manufacturers must prioritise productivity

enhancement, design and innovation capability development, and the strengthening ofglobal brand visibility.

• With tightening environmental regulations worldwide, textile manufacturers are under increasing pressure to comply with sustainability norms. This includes reducing water consumption, managing chemical effluents, minimising waste, and ensuring responsible sourcing. Compliance is not only critical from a regulatory perspective but also essential to meeting the expectations of environmentally conscious consumers and international buyers mitigation, and reporting are supported by an effective framework for risk management. Indian Textile Industry continues to face stiff competition from China, Bangladesh, Taiwan and other emerging economies. The relative competitiveness of Industry is dependent upon the raw cotton prices, exchange rates and prevalent interest rates regime. The primary raw material for the manufacturing of yarn and finished fabric is cotton which is an agriculture produce. Its supply and quality are subject to forces of nature i.e. Monsoon. Any increase in the prices of raw cotton will make the things difficult for the Textile Industry resulting weak demand and thin margins. Thus availability of raw cotton at the reasonable prices is crucial for the textile industry. Any significant change in the raw cotton prices can affect the performance of the Industry.

RISK AND CONCERNS

The Companys processes for risk identification, assessment,

There are certain key risks associated with our Company. Such risks are stated in the table below along with our mitigation strategies for curbing the same:

Risk	Impact	Mitigation Strategies
Global Economic Risk	A downturn in the Global Economy can adversely affect products demand.	We have been actively engaged in widening our geographical presence while continuously expanding our product portfolio. Not being bound to a specific region and a basket of products to offer from gives us the ability to face such downturns.
Competition risk	Increased competition can reduce returns on investment, market share and profit margins.	The Company manages this risk by emphasising value addition, quality, customer service, product variety and cost efficiency and increasing customer base.
Raw material price inflation risk	Fluctuation in cotton prices can adversely impact our Company.	The Company strictly monitors cotton prices and maintains a disciplined stocking policy to prevent price volatility.
Customer concentration risk	Losing a major client or over-reliance on a few customers can lead to revenue loss.	The Company consistently works to expand its customer base by targeting various geographies.
Reputation risk	Delayed payments or poor product quality may reduce stakeholder trust and harm operations.	The Company ensures product quality and timely delivery, aligning with stakeholder expectations by enforcing strict control processes.

KEY FINANCIAL RATIO

Pursuant to Schedule V to the SEBI Listing Regulations, details of significant changes (i.e. a change of 25% or more as compared to the immediately previous financial year) in Key Financial Ratios and any changes in Return on Net Worth of the Company (on standalone basis) including explanations therefore are given below:

Particular	31.03.2025	31.03.2024
Debtors Turnover	04.99	05.20
Inventory Turnover	03.62	04.03
Interest Coverage Ratio	03.78	03.01
Current Ratio	01.21	01.30
Debt Equity Ratio	01.28	01.65
Operating Profit Margin	15.21%	11.71%
Net Profit Margin	08.00 %	05.25 %
Return on Net-worth	21.84%	17.15%

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUECY

The Company has put in place an adequate system of internal control commensurate with its size and nature of business to safeguard and protect from loss, unauthorized use or disposition of its assets. All the transactions are properly authorized, recorded and reported to the Management. The Company is following all the applicable Accounting Standards for properly maintaining the books of accounts and reporting financial statements. The internal auditor of the Company checks and verifies the internal control system and monitors them in accordance with the policy adopted by the Company. The Audit Committee of the Board of Directors, Statutory Auditor and Department Heads are appraised of the internal audit finding and corrective action is taken thereon. The audit observations and the managements responses are placed before the Audit Committee. We believe that our internal financial control system provides reasonable assurance that our internal financial control is designed effectively and is operating as intended.

HUMAN RESOURCES AND INDUSTRIAL RELATIONS

The Company had cordial and harmonious industrial relations at all levels of organizations. The company believes that the industry has the tremendous potential to impact the society, nation and the world positively. Its employees are major stakeholders and their efforts have direct stake in the business prospectus of the organization. The employees have extended a very productive cooperation in the efforts of the management to carry the company to greater heights. The Company considers employees as their biggest competitive advantages. The Company takes initiative like training and development for its people to increase the performance. The Company has taken various steps to improve and enhance skill of its people. The industrial relations remained cordial in our plant. The Company has continued to give special attention to human resources and overall development. The strengths of the Companys workplace at the end of financial year was 732. This includes both skilled and unskilled manpower.

ENVIRONMENT AND SAFETY

The need for environmentally clean and safe operations is companys key priority. The Company policy requires the conduct of all operations in such a manner so as to ensure the safety of all concerned, compliance of statutory and industrial requirements for environment protection and conservation of natural resources to the extent possible.

CAUTIONARY STATEMENT

Statements made in this Management Discussion and Analysis Report

may contain certain forward-looking statements based on various assumptions about the Companys present and future business strategies and the environment in which it operates. Actual results may differ substantially or materially from those expressed or implied due to risks and uncertainties. These risks and uncertainties include the effects of economic and political conditions in India and abroad, volatility in interest rates and the securities market, new regulations and government policies that may impact the Companys businesses, as well as the ability to implement its strategies. The information contained herein is as of the date referenced, and the Company does not undertake any obligation to update these statements. The Company has obtained all market data and other information from sources believed to be reliable or its internal estimates, although its accuracy or completeness cannot be guaranteed.

ANNEXURE- 4

PARTICULARS OF EMPLOYEES

Information required under Section 197of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

A. Ratio of remuneration of each Director to the median remuneration of the employees of the Company and the percentage increase in remuneration for the financial year 2024-25 is as follows:

Sr. No. Name	Designation	Remuneration for the year 2024-25 (In Rs.)	Remuneration for the year 2023-24 (In Rs.)	% increase in Remuneration	Ratio of remuneration of Director to the Median remuneration
1. Mr. Mohammed Sabir Khan	Chairman& Managing Director	78,00,000	66,00,000	18.18	41.70 : 1
2 Mrs. Samar Khan	Whole Time Director	78,00,000	66,00,000	18.18	41.70: 1
3. Mr. Nasir Khan	Whole Time Director	78,00,000	66,00,000	18.18	41.70: 1
4. Mrs. Annie Zuberi	Independent Director	75,000*	95,000*	-	-
5. Mrs. Amreen Sheikh	Independent Director	1,05,000*	1,00,000*	-	-
6. Mr. Ramesh Agarwal	Independent Director	45,000*	60,000*	-	-

B. Percentage increase in remuneration of Chief Financial Officer and Company Secretary for the financial year 2024-25 is as follows:

Sr. No. Name	Designation	Remuneration for the year 2024-25 (In Rs.)	Remuneration for the year 2023-24 (In Rs.)	% increase in Remuneration	Ratio of remuneration of Director to the Median remuneration
1. Mr. Prakash Chandra Jain	Chief Financial Officer	5,35,000	4,88,000	09.63	02.86 : 1
2 Mr. Rahul Kumar Verma	Company Secretary	10,72,071	8,76,000	22.38	05.73 : 1

Notes-

1. The aforesaid details are calculated on the basis of remuneration paid during the financial year 2024-25.

2. *Remuneration in the form of Sitting Fees to attend meetings as an Independent Director

3. Median remuneration of the Company for all the employees who were there in employment throughout the year (365 employees) is Rs.1,87,033/- for the financial year 2024-25.

4. The remuneration to Directors is within the overall limits of Schedule V of the Companies Act, 2013.

C. Percentage increase/ (decrease) in the median remuneration of employees in the financial year 2024-25: 2.72 %

D. Number of permanent employees on the rolls of the Company as on 31^st March, 2025 : 732.

E. Affirmation that the remuneration is as per the Remuneration Policy of the Company

The Company affirms that remuneration is as per the remuneration policy of the Company.

ANNEXURE-5

DETAILS OF TOP TEN EMPLOYEES IN TERMS OF REMUNERATION PAID

[As per Section 197(12) read with the rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014]

S. No. Name	Designation/ Department	Annual Remune ration	Date of Joining	Qualifica tion	Expe rience	Age	Permanent/ Contractual	Last Employme-nt
1 Mr. Mohammed Sabir Khan	Managing Director	7800000	01/08/2014*	B.Com.	25	51	Permanent	-
2 Mr. Nasir Khan	Executive Director	7800000	01/12/2016*	10+2	08	27	Permanent	-
3 Mrs. Samar Khan	Executive Director	7800000	01/08/2014*	10+1	21	46	Permanent	-
4 Mr. Vijay Pal Singh Negi	Sales & Marketing Head	2100000	24/07/2023	B.Sc., MBA (Marketin-g)	19	42	Permanent	RSWM LTD.
5 Ms. Aliya Khan	General Manager	1800000	01/10/2018	B.Com.	06	25	Permanent	-
6 Mohammed Aasim Pathan	Marketing Manager	12,99,960	16/09/2023	M.Tech. & B.TECH. (In Textile Chemistry)	9	36	Permanent	Susvin Denim Pvt. Ltd.
7 Maitry Pankaj Bhai Shah	MIS Manager	12,00,000	19/02/2024	CA, M.Com.	5	27	Permanent	Arvind Limited
8 Mr. Rishabh Kothari	Chief Engineer	11,40,000	01/05/2021	B. Tech	15	36	Permanent	MANOMAY TEX INDIA LIMITED
9 Mr. Rahul Kumar Verma	Company Secretary	10,72,071	01/01/2021	CS, M.Com., LLM, DLL	08	33	Permanent	MODWAY SUITING PRIVATE LIMITED
10 Mr. Manish Kumar	Product Development Head	10,20,000	01/09/2022	B.Tech., MBA (Operation Management)	14	37	Permanent	RSWM LTD.

Notes-

1. None of the employee was in receipt remuneration in excess of remuneration drawn by the Managing and Whole Time Directors and holding by himself or along with his spouse and dependent children, 2 % or more of the paid -up capital of the Company.

2. None of the employee was in receipt remuneration of Rs. 1,02,00,000/- or more for whole financial year and was in receipt remuneration of Rs. 8,50,000/-per month or more for a part of the financial year.

* Mr. Mohammed Sabir Khan re-appointed as Managing Director, Mrs. Samar Khan & Mr. Nasir Khan re-appointed as Executive Director of the

Company w.e.f. 01.01.2024.

ANNEXURE 6

CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND

OUTGO

(Pursuant to Rule 8(3) of the Companies (Accounts) Rules, 2014)

PARTICULARS	Current Year	Previous Year
A: CONSERVATION OF ENERGY	The Company is continuously putting its efforts to improve energy management by way of monitoring energy related parameters on regular basis.
Electricity a. Purchase Units (in Lakh)	170.12	135.63
Total Amount (in Lakh)	1129.87	1052.47
Rate/Unit (Amount in Rs)	6.65	7.75
b. Own Generation	-	-
Through Diesel generator
Unit (In lakh)	-	-
Unit Per ltr. of diesel oil	-	-
Cost / Unit (Amount in Rs)	-	-
B. Consumption per unit of production
(Product Synthetic, Cotton etc. Fabrics)
Electricity unit/mtr.	00.62	00.47
B. TECHNOLOGY ABSORPTION, ADOPTION AND INNOVATION Expenditure incurred on technology absorption	Company is consistently investing in and importing advanced plant & machineries to upgrade & expand the technology and deliver value added products. It has been continuously enhancing the quality of its existing products while also developing new products from time to time. During the year the Company commissioned an expansion project in Weaving Division by installing 72 Air Jet looms, Denim Processing Division by installing one line of Indigo Dying Range and setting up Spinning Division with 22,656 spindles for cotton yarn enabling it to diversify and enter a new product portfolio and availability of raw material for finished fabric.
Expenditure incurred on R & D (in lakh)	R & D expenses cannot be segregated
C. FOREIGN EXCHANGE EARNINGS AND OUT GO.(in lakh)
Foreign exchange earnings	2254.00	118.93
Foreign exchange outgo	1728.44	3553.28

 

For and on behalf of the Board of Directors

Mohammed Sabir Khan

Chairman and Managing Director

Bhilwara, September 08, 2025