Trejhara Solutions Ltd Directors Report

To

The Members of Trejhara Solutions Limited,

The Directors of Trejhara Solutions Limited ("the Company" or "Trejhara") are pleased to present this Eighth Annual Report of the Company, together with its Audited Financial Statements for the year ended March 31, 2025 ("financial year").

1. FINANCIAL SUMMARY AND HIGHLIGHTS

The highlights of the Consolidated and Standalone Financial Statements are detailed hereunder.

The Companys performance for the financial year ended March 31, 2025 as compared to the previous financial year ended March 31, 2024 is summarized below:

(Rs. in lakhs)

Consolidated Standalone

Particulars	For the year ended 31 March,2025 (Restated)	For the year ended 31 March,2024 (Restated)	For the year ended 31 March,2025 (Restated)	For the year ended 31 March,2024 (Restated)
Income
Revenue from Operations	11,575.39	6,942.74	10,135.55	5,743.96
Other Income	393.58	117.73	318.47	68.88
Total Income	11,968.97	7,060.47	10,454.02	5,812.84
Expenses
Operating Expenses	8,452.32	4,260.40	7,855.53	3,874.98
Employee Benefits Expenses	1,745.74	1,377.80	1,416.36	1,027.64
Finance Costs	52.96	121.57	40.14	26.61
Depreciation, Amortisation and Impairment	400.12	409.33	25.60	11.17
Other Expenses	654.96	431.62	554.84	440.24
Total Expenses	11,306.10	6,600.72	9,892.46	5,380.64
Profit Before Exceptional Items and Tax	662.87	459.75	561.55	432.20
Exceptional (Gain)/ Loss (net)	-	(1,233.38)	-	164.58
Profit/ (Loss) Before Taxation	662.87	1,693.13	561.55	267.62
Tax Expense:
(a) Current Tax	224.81	151.84	157.58	115.74
(b) Deferred Tax Charge/ (Credit)	13.97	(9.36)	13.97	(9.36)
Total Tax Expenses	238.78	142.48	171.55	106.38
Profit After Tax	424.09	1,550.65	390.00	161.24
Profit from Discontinued Operations	-	760.49	-	683.45
Tax Expenses of Discontinued Operations:
(a) Current tax	-	171.39	-	171.39
(b) Deferred Tax Charge	-	20.80	-	20.80
Total Tax Expenses	-	192.19	-	192.19
Profit after Tax from Discontinued Operations	-	568.30	-	491.26
Other Comprehensive Income/ (Loss),net of tax	(9.89)	(22.45)	(10.05)	(14.05)
Total Comprehensive Income/ (Loss)	414.20	2,096.50	379.95	638.45

	Consolidated		Standalone
Particulars	For the year ended 31 March,2025 (Restated)	For the year ended 31 March,2024 (Restated)	For the year ended 31 March,2025 (Restated)	For the year ended 31 March,2024 (Restated)
Earnings per equity share (for Continuing operation)
- Basic and Diluted (in E)	1.80	6.60	1.66	0.69
Earnings per equity share (for Discontinued operation)
- Basic and Diluted (in E)	-	2.42	-	2.09
Earnings per equity share (for Continuing and Discontinued operation)
- Basic and Diluted (in E)	1.80	9.02	1.66	2.78

* Figures for the financial year 2024-25 & 2023-2024 have been presented after giving effect of the Scheme of Amalgamation of LP Logistics Plus Chemical SCM Private Limited with the Company ("the Scheme") and hence the comparisons with the previous periods have to be looked at in light of the same. The Scheme, with the appointed date as 01 st April 2024, was made effective from 16 th October, 2025.

2. MATERIAL CHANGES & COMMITMENTS

During the financial year, a petition was filed with the Honble National Company Law Tribunal, Mumbai Bench (NCLT) seeking approval for the Scheme of Amalgamation ("the Scheme") between LP Logistics Plus Chemical SCM Private Limited ("Transferor Company") and Trejhara Solutions Limited ("Transferee Company") and their respective shareholders and creditors. The NCLT vide its Order dated October 14, 2025 ("Order") has approved the Scheme and upon filing of the Order with the Registrar of Companies vide Form INC-28 and subsequent approval thereof, the Scheme has become effective on October 16, 2025 ("Effective Date"). The Appointed Date as per the Scheme was April 01, 2024 and therefore, the Financial Statements have been prepared after giving full effect of the Accounting Treatment envisaged under the Scheme. The Scheme has resulted in significant financial impacts including consolidation of assets and liabilities of the Transferor Company into the financial statements of the Company, restatement of the previous financial figures to reflect the accounting treatment as per the approved Scheme, and consequential changes in the authorized share capital structure.

Further, the Company had also sought extension of time, from the Ministry of Corporate Affairs, Mumbai, for holding the eighth annual general meeting (AGM) in order to enable the publishing of the Financial Statements after giving effect of the Scheme and accordingly, the Company has been allowed an extension of additional three months to hold the AGM.

Except for the above, there were no other material changes or commitments affecting the financial

position of the Company between the end of the financial year and the date of this Report. There has also been no change in the nature of business of the Company during the financial year 2024-25.

3. TRANSFER TO RESERVES

The profit after tax based on standalone financial statements for the year ended 31 st March 2025, was E 390 lakhs and the same was transferred to the Retained Earnings.

4. DIVIDEND

The Company is currently undergoing transformation. Having completed the merger and initiated a series of proposed acquisitions and expansion initiatives, the Board believes it is prudent to conserve financial resources to support these growth priorities. Accordingly, no dividend has been recommended for the financial year.

5. STATE OF COMPANYS AFFAIRS

The Financial Year 2024-25 was a defining and transformative period for Trejhara. While the Company continued to deliver a strong performance as a trusted provider of innovative, IP-driven supply chain software solutions, the core narrative of the year was the successful Scheme of Amalgamation. This performance underscores the accelerating global demand for digital transformation in supply chain management, where efficiency, visibility, and agility have become critical differentiators, and Trejharas consistent investments in product innovation continue to position it as a preferred technology partner.

Pursuant to the Scheme, the Company has prepared its financial statements for the financial year ended March 31, 2025 (FY 202425) after effecting the impact of amalgamation. This consolidation has resulted in a significant and positive uplift in the Companys scale and profitability.

The successful amalgamation has opened a fresh pathway for future growth. which not only deepens market reach but also diversifies revenue streams and unlocks substantial operational synergies, creating a more resilient and scalable business model. As we look ahead, the merged Company is focused on expanding its global footprint and strengthening its position within the logistics and supply chain sector. With a well-defined strategic roadmap and a strengthened operational platform Trejhara is well-positioned to deliver sustainable long-term growth, operational excellence, and enhanced value for all stakeholders.

6. SHARE CAPITAL

During the financial year, there was no change in the share capital.

However, pursuant to approval of the Scheme of Amalgamation, the Board at its meeting held on November 05, 2025 approved allotment of 89,89,344 equity shares of face value 10/- (Rupees Ten only) each to the shareholders holding shares of LP Logistics Plus Chemical SCM Private Limited (Transferor Company) in the ratio of 2 (Two) fully paid-up equity shares of the Company having a face value of 10/- (Rupees Ten only) each for every 1 (One) fully paid-up equity share of 10/- (Rupees Ten only) each held in the Transferor Company.

Accordingly, currently the paid-up equity share capital of the Company stands increased to Rs. 23,50,56,420/- (Rupees Twenty-Three Crores Fifty Lakhs Fifty-Six Thousand Four Hundred and Twenty Only) divided into 2,35,05,642 (Two Crore Thirty-Five Lakhs Five Thousand Six Hundred and Forty-Two) fully paid-up equity shares having a face value of Rs. 10/- each.

7. SUBSIDIARIES

As on March 31, 2025, the Company had 01 (One) Indian Subsidiary and 02 (Two) Foreign Subsidiaries (including step-down subsidiaries). The provisions of Regulations 24 and 24A of SEBI Listing Regulations, with reference to subsidiaries were duly complied with, to the extent applicable.

Pursuant to the provisions of Section 129(3) of the Act read with the Companies (Accounts)

Rules, 2014 and in accordance with applicable accounting standards, a statement containing the salient features of financial statements of the Companys Subsidiaries and Associate Companies in Form No. AOC-1 is annexed as " Annexure 4" to this Report.

I n accordance with the provisions of Section 136 of the Act and the amendments thereto, and the Listing Regulations, the Audited Financial Statements, including the Consolidated Financial Statements and related information of the Company and financial statements of your Companys Subsidiaries have been placed on the website of your Company viz www.trejhara. com.

8. ANNUAL RETURN

Pursuant to the provisions of Section 92(3) & 134(3) (a) of the Act read with Rule 12(l) of the Companies (Management and Administration) Rules, 2014 (as amended from time to time), the Annual Return of the Company in the prescribed e-Form MGT-7 for the FY 2024-25 will be available on the website of the Company at www.trejhara.com .

9. CORPORATE GOVERNANCE

The Company remains committed to upholding the highest standards of corporate governance and ethical business conduct. This commitment is embedded in our Code of Conduct, the charters of the Board and its Committees, and a comprehensive framework of internal policies that collectively reinforce transparency, accountability, and integrity across all functions. Our approach extends beyond statutory compliance with corporate governance requirements; we are dedicated to fostering a robust governance culture that strengthens decision-making, protects stakeholder interests, and supports the long-term strategic objectives of the Company.

The report on corporate governance as per the requirements of Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the LODR"), forms part of this Annual Report. Further, the requisite certificate from Mr. Harshvardhan Tarkas, Practicing Company Secretary, confirming the compliance with the conditions of corporate governance has been included in the said Report.

10. MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis Report for the year under review, as stipulated under Regulation 34 (2) (e) of the SEBI Listing Regulations

has been covered in a separate section forming part of this Annual Report.

11. CORPORATE SOCIAL RESPONSIBILITY (CSR)

The Company believes that Corporate Social Responsibility goes beyond a statutory obligation or a contribution towards sustainable economic development. It is an inherent commitment to progress hand-in-hand with society, striving to enhance lives in a manner that fosters inclusive growth, benefits the community at large, and creates long-term value for both business and development.

The Company has constituted a Board-level CSR Committee, which recommends the budget for funding various charitable activities and contributions to be made to various initiatives. During FY 2024-25, the Companys total CSR expenditure amounted to E 20 lakhs. In line with the provisions of Section 135 of the Companies Act, 2013, the Company has adopted a comprehensive CSR Policy that outlines the focus areas and activities to be undertaken. The CSR Policy is designed to contribute meaningfully towards sustainable economic development and to create a positive impact on society at large, while fostering a responsible and profitable future for all stakeholders. The CSR Policy is available on the Companys website at www.trejhara.com .

During the financial year, the Company has contributed E 20 lakhs (Rupees Twenty Lakhs only) to Rotary Club, Powai based in Mumbai (Maharashtra) having registration no. CSR00006930 for providing education, welfare of society, women empowerment, health related activities as per provisions of Sec. 135 of the Act.

The disclosures, as required under the Companies (Corporate Social Responsibility Policy) Rules, 2014, has been enclosed to this Report as "Annexure 1" .

12. INTERNAL FINANCIAL CONTROL SYSTEM & THEIR ADEQACY

The Company has an internal control system which commensurate with the size, scale and nature of its operations. The Internal Audit Team monitors and evaluates the efficacy and adequacy of internal control system in the Company, its compliance with operating systems, accounting procedures and policies of the Company.

13. DIRECTORS RESPONSIBILITY STATEMENT

I n terms of the provisions of Section 134(5) of the Act, the Board the Directors, to the best of their knowledge and ability, confirms that:

i. in the preparation of the annual accounts, the applicable accounting standards have been followed and that there are no material departures;

ii. they have selected such accounting policies and have 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 31 st March, 2025 and of the profit and loss of the Company for that period;

iii. they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv. they have prepared the annual accounts on a going concern basis;

v. they have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively; and

vi. they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

Based on the framework of internal financial controls maintained by the Company, the work performed by the internal and statutory auditors and other external consultants, including the audit of internal financial controls over financial reporting by the statutory auditors, and the reviews carried out by the Management and the Audit Committee, the Board is of the opinion that the Companys internal financial controls were adequate and operating effectively during FY 2024-25.

14. DIRECTORS/KEY managerial personnel (kmp)

As on March 31, 2025, the Company has six Directors comprising of one (01) Executive Director and five (05) Non-Executive Directors, out of which three are Independent Directors including a woman independent director. Further, the details pertaining to the composition and other details of the Board of Directors of the Company and the meetings thereof held during the Financial Year 2024-25 are given in the Report on Corporate Governance forming part of this Annual Report.

I n accordance with the provisions of Sections 2(51) and 203 of the Act read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the following are the Key Managerial Personnel of the Company:

Sr. No.	Name	Designation
1	Mr. Amit Sheth	Whole-Time Director
2	Mr. Shardul Inamdar	Company Secretary & Compliance Officer
3	Mr. Vimal Garachh	Chief Financial Officer
-	Re-appointment on by rotation	account of retirement

In terms of Section 152 (6) of the Companies Act, 2013, one third of the Directors other than Independent Directors are liable to retire by rotation at the Annual General Meeting of the Company. Mr. Paresh Zaveri, Non-Executive Non-Independent Director, (DIN: 01240552), based on the seniority criteria liable to retire by rotation and offers himself for re-appointment.

The information as required to be disclosed under regulation 36 of the LODR and brief profile of director in case of re-appointment of director is incorporated in explanatory statement of AGM Notice forming part of the Annual Report.

15. PERFORMANCE EVALUATION

The Companys policy relating to the appointment and remuneration of Directors, KMPs and other employees including criteria for determining qualifications, positive attributes and independence of Directors are covered under the Corporate Governance Report which forms part of this Annual Report.

The performance of the Directors 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, 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, etc. The Board and the Nomination and Remuneration Committee reviewed the performance of individual directors on the basis of criteria such as the contribution of the individual director to the board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings, etc.

16. FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS

In accordance with the Listing Regulations, the Company conducts familiarisation programmes for its Independent Directors to provide insights into the Company, their roles, rights, and responsibilities, as well as the nature of the industry in which the Company operates and its business model. The Independent Directors are regularly briefed during meetings of the Board and its Committees on the Companys strategy, operations, key business activities, and emerging issues.

The details of the familiarisation programme for Independent Directors form part of the Corporate Governance Report.

17. DECLARATION OF INDEPENDENCE

Pursuant to the provisions of Section 149 of the Act, the Independent Directors have submitted declarations that each of them meets the criteria of independence as provided in Section 149(6) of the Act along with Rules framed thereunder and Regulation 16(1)(b) of the SEBI Listing Regulations. There has been no change in the circumstances affecting their status as independent directors of the Company.

None of the Directors of the Company are disqualified under the provisions of the Act or under the LODR. All Independent Directors have provided confirmations as contemplated under section 149(7) of the Act.

18. MEETINGS

The Board met 04 (Four) times during the financial year. The details of meetings of the Board & Committees have been provided under the Corporate Governance Report, which forms part of this Annual Report.

19. COMMITTEES

As on 31 st March,2025, the Board has following committees applicable under the Act/LODR:

i) Audit Committee;

ii) Nomination and Remuneration/

Compensation Committee;

iii) Stakeholder Relationship/Investor Grievance and Share Transfer Committee; and

iv) Corporate Social Responsibility Committee.

A detailed note in relation to these committees, including composition, terms of reference, number of committee meetings and other details are provided in Corporate Governance Report.

20. TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND

There were no unpaid or unclaimed dividends, which was required to be transferred to the Investor Education and Protection Fund (lEPF) established by the Central Government during the financial year.

21. VIGIL MECHANISM/ WHISTLE BLOWER POLICY

The Company has established the necessary vigil mechanism system and has put in place a Whistle Blower policy in order to enable the employees, Directors & Managers of the Company to report their concerns about the management, operations and other affairs of the Company. In terms of the Whistle Blower Policy, the whistle blowers are provided an access to the Audit Committee to lodge their concerns. This policy is available on the website of the Company at www.trejhara.com

In accordance with the Policy, employees of the Company can make protected disclosures to the Compliance Officer and/or any other written communication by sending it to the Registered Office of the Company or via email to investor@ trejhara.com or oral means of communication

22. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF THE ACT

Pursuant to Section 186 of the Companies Act, 2013, the details of loans given, guarantees provided, and investments made by the Company during the year are disclosed in Note 37 to the standalone financial statements, which form an integral part of this Annual Report.

23. PARTICLUARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

All related party transactions entered into during the financial year were in the ordinary course of business and on an arms length basis. All such transactions were reviewed and approved by the Audit Committee in line with applicable provisions. The details of material related party transaction entered during the year under review is available in " Annexure 5".

The Related Party Transactions Policy, as approved by the Board, is available on the Companys website at www.trejhara.com . The details of related party transactions as required under the applicable accounting standards are disclosed in the notes to the standalone financial statements forming part of this Annual Report.

24. PUBLIC DEPOSITS

During the year, the Company has neither invited

nor accepted any public deposits.

25. AUDITORS AND THEIR REPORTING

> STATUTORY AUDITORS

During the financial year, M/s. Bansi Khandelwal & Co., Chartered Accountants (Firm Registration No. 145850W), resigned as the Statutory Auditors of the Company due to below reason reproduced from his resignation letter: "The recent changes in my internal segments and the limitation of the audit team in the audit process and due to staff constraints, it will not be possible for me to continue as statutory auditor of the Company."

In order to fill the resulting casual vacancy, the Board of Directors appointed M/s. Chokshi & Chokshi LLP, Chartered Accountants (Firm Registration No. 101872W/W100045), as the Statutory Auditors of the Company and the same was also approved by the Members through postal ballot on December 23, 2024 to hold office till the conclusion of the forthcoming annual general meeting.

The Statutory Auditors of the Company have stated in their report that, during the course of Audit no fraud on or by the Company has been noticed or reported.

> SECRETARIAL AUDIT

Pursuant to the requirements of Section 204(1) of the Act read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had appointed Mr. Harshvardhan Tarkas, Company Secretary in Practice to conduct the Secretarial Audit for the financial year. The Report of the Secretarial Audit in the form MR -3 is annexed herewith as " Annexure 2 ".

In accordance with the amended Regulation 24A of the Listing Regulations, the Board based on the recommendation of the Audit Committee, has approved the appointment of Mr. Harshvardhan Tarkas, Company Secretary in Practice for conducting Secretarial Audit of the Company for a period of 5 years w.e.f. Financial Year 202526 to Financial Year 2029-30, subject to the approval of the Shareholders of the Company at the ensuing Annual General Meeting of the Company.

In respect of observations made out in the Secretarial Audit Report, it is informed, as under:

The related party transactions were reviewed and were in conformity with the omnibus approvals granted by the Audit Committee. However, it is observed that, in certain instances, multiple transactions with the same related party - although approved separately by the Audit Committee are, in aggregate, exceed the prescribed materiality thresholds as defined under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR"). It is recommended that the Company evaluate the applicability of the materiality provisions under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and ensure full compliance with the relevant regulatory requirements.

Explanation:

The individual transactions were approved by the Audit Committee however, with regard to the aggregate value, legal opinion is being sought and if necessary approval will be sought from the shareholders.

26. PARTICLUARS OF EMPLOYEES

I n terms of the provisions of Section 197(12) of the Act read with the 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 is provided in a separate annexure forming part of this Report. Having regard to the provision of the first proviso to Section 136(1) of the Act, the Annual Report excluding the aforesaid information is being sent to the Members of the Company. In terms of Section 136, the said annexure is open for inspection. Any Member interested in obtaining a copy of the same may write to the Company Secretary at investor@trejhara.com.

The disclosures pertaining to the remuneration and other details as required under section 197(12) of the Act read with Rule 5(1) of the of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, have been provided in the Annual Report as "Annexure 3".

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

In terms of section 134(3)(m) of the Act, read with rule 8 of the Chapter IX of the Companies (Accounts) Rules, 2014, the Directors furnish herein

below the required additional information:

> Conservation of Energy:

Although the operations of the Company are not energy intensive, the management is highly conscious of the criticality of the conservation of energy at all operational levels. The requirement of disclosure of particulars with respect to conservation of energy as prescribed in Section 134(3)(m) of the Act read with Rule 8(3) of the Companies (Accounts) Rules, 2014, is not applicable to the Company and hence are not provided.

> Technology Absorption:

The Company continues to adopt latest technologies and innovations for improving the productivity and quality of its products and service offerings. The Company is also partnering with major technology providers in global markets.

> Foreign Exchange Earnings and Outgo:

The details of foreign exchange earned and spent by the Company during the year are given below:

Foreign Exchange Earnings and Outgo:

(Rs. in lakhs)

Particulars	For the year ended 31 March, 2025	For the year ended 31 March, 2024
a) Foreign Exchange Earnings	3,089.97	3,013.89
b) Foreign Exchange Outgo	1,845.82	1,475.53

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

The Company has in place necessary policy as required under the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. An Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. The Company has complied with the provisions relating to the constitution of Internal Complaints Committee (ICC) under the Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013. All employees (permanent, contractual, temporary, trainees) are covered under this policy. During the year under review, the Company has not received any complaints under the policy.

Sr.	Number of	Number of	Number of
No	complaints	complaints	cases pending
	of sexual	disposed off	for more than
	harassment received in the year	during the year	ninety days
1.	Nil	Nil	Nil

29. DISCLSOURE WITH RESPECT TO MATERNITY BENEFIT ACT, 1961

The Company has complied with the provisions of the Maternity Benefit Act, 1961, including all applicable amendments and rules framed thereunder. The Company is committed to ensuring a safe, inclusive, and supportive workplace for women employees. All eligible women employees are provided with maternity benefits as prescribed under the Maternity Benefit Act, 1961, including paid maternity leave, nursing breaks, and protection from dismissal during maternity leave. The Company further ensures that no discrimination is made in recruitment or service conditions on the grounds of maternity. Necessary internal systems and HR policies are in place to uphold the spirit and letter of the legislation.

30. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

There are no significant and material orders passed by the Regulators/Courts which would impact the going concern status of the Company and its future operations.

31. COST RECORDS

The Company is not required to maintain cost records specified by Central Government under section 148(1) of the Act.

32. DISCLAIMER AND FORWARD-LOOKING STATEMENT

The statements in the Boards Report and the Management Discussion & Analysis describing the Companys objectives, expectations or forecasts may be forward-looking within the meaning of applicable securities laws and regulations. Actual results may differ materially from those expressed in the statement. Important factors that could influence the Companys operations include global and domestic demand and supply, input costs, availability, changes in government regulations, tax laws, economic developments within the country and other factors such as litigation and industrial relations.

33. AFFIRMATIONS ON COMPLIANCE OF SECRETARIAL STANDARDS

The Company hereby affirms that during the year under review, the Company has complied with all the applicable Secretarial standards i.e. SS-1 and SS-2, relating to Meetings of the Board of Directors and General Meetings respectively (including any modifications or amendments thereto) issued by the Institute of Company Secretaries of India.

34. ACKNOWLEDGEMENTS

The Board wishes to place on record its appreciation for the assistance, co-operation and encouragement extended to the Company by the its shareholders, customers, business partners, financial institutions, bankers, vendors and other stakeholders. The Directors take this opportunity to place on record their warm appreciation for the valuable contribution, untiring efforts and spirit of dedication demonstrated by the employees and officers at all levels, in ensuring an excellent all-around operational performance. We applaud them for their superior levels of competence, solidarity, and commitment to the Company. The Directors would also like to thank the shareholders for their wholehearted support and contribution. We look forward to their continued support in future.

For and on behalf of the Board of Directors

Sd/- Amit Sheth

Chairman & Whole Time Director

Place : Navi Mumbai Date : November 14, 2025

Registered Office:

Unit No. 601, Sigma IT Park,

Plot No. R-203, R-204,

T.T.C. Industrial Estate,

Rabale, Navi Mumbai -400701.