Umiya Tubes Ltd Directors Report

Dear Members,

Your Board of Directors have pleasure in presenting their 12^th Annual Report on the business and operations of the Company, together with the Audited Financial Statements for the financial year ended on March 31, 2025 (the "Report").

1. Financial Performance:

The summarized financial results of the Company for the financial year ended March 31, 2025 are presented below:

(INR in lakhs)

Particulars	Standalone
	2024-25	2023-24
Revenue from Operations	56.59	53.31
Other Income	154.66	.10
Total Revenue	211.25	53.41
Profit/(Loss) before Interest & depreciation	(155.65)	(276.77)
Less: Interest	14.49	62.39
Less: Depreciation	2.80	32.91
Profit/(Loss) Before Tax and Exceptional Items	(172.94)	(372.07)
Profit/(Loss) Before Tax	(172.94)	(372.07)
Add/Less: Current tax	-	-
Add/Less: Short/(Excess) Provision Of Earlier Year	-	-
Add/Less: Deferred Tax	-	(32.46)
Profit/(Loss) After Tax	(172.94)	(339.62)
Other Comprehensive Income	(126.31)	121.73
Total Comprehensive Income	(299.26)	(217.88)

Note: The above figures are extracted from the standalone financial statements prepared in compliance with Indian Accounting Standards (IND AS). The Financial Statements of the Company complied with all aspects with Indian Accounting Standards (IND AS) notified under section 133 of the Companies Act, 2013 (the Act) read with the Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time and other relevant provisions of the Act.

2. State of companys affairs, business overview and future outlook:

During the year under review, the Company has earned meager revenue from operation of an amount of Rs. 56.59 lakhs against Rs. 53.31 lakhs ofthe previous year and also earned other income of Rs. 154.66 lakhs against Rs. 0.10 lakhs of the previous year.

The Company has incurred net loss of Rs. 172.94 lakhs against the Net loss of Rs. 372.07 lakhs of the previous year. The operating loss has incurred due to inefficient business operations during the year.

During the year 2024 25, the members of the Company have passed a resolution for alteration of Main Object Clause of the Company. The company is planning to step in the new line of business of Renewable Energy segment. However, the company has not commenced any business operation in the new line of business till the date of this report.

The detailed discussion on Companys overview and future outlook has been given in the section on Management Discussion and Analysis (MDA).

3. Dividend:

The Board of Director do not recommend any dividend for the financial year under review.

As per Regulation 43A of the SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015 (the Listing Regulations), the top 1000 listed Companies shall formulate a Dividend Distribution Policy. The Company does not come under the category of top 1000 listed Companies based on the market capitalization.

4. Transfer to reserves:

The Company has not transferred any amount of profit to the reserves during the financial year under review. Further, the details of movement in Reserve and Surplus are given in note no. 10 of the Financial Statement.

5. Deposits:

During the year, your Company has not accepted any deposits within the meaning of sections 73 and 76 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014, hence there are no details to disclose as required under Rule 8 (5)

(v) and (vi) of the Companies (Accounts) Rules, 2014.

Further, the Company has not taken loan from its directors as on 31^st March, 2025.

6. Details of subsidiaries/joint ventures/associate companies:

During the year under review, no Company has become or ceased to be a Subsidiary/Joint Venture/ Associate Company of your Company.

7. Share capital:

During the year under review, following changes took place in the Authorized Share Capital and Paid-up share capital:

(i) The Authorized Share Capital of the Company was increased to Rs. 20,00,00,000/- divided in to 2,00,00,000 Equity Shares of Rs. 10/- each by passing an ordinary resolution in the extra ordinary general meeting of the members held on 30^th October 2024.

(ii) The Company has issued and allotted 29,50,000 Equity Shares of Rs.10/- on preferential basis at the price of Rs. 11.50/- per share. However, the Company is yet to receive the Listing Approval from BSE Limited for the said allotted shares. Hence, there is a difference of 29,50,000 Equity Shares of Rs. 10/- in the listed capital and paid up capital. The Company is in process of obtaining the listing approval from BSE Limited.

(iii) The Company has issued and allotted 55,00,000 Convertible warrants of Rs. 10/- each on preferential basis to the identified investors at Rs. 11.50/- per warrant. None of the convertible warrants have been converted in to Equity Shares of Rs. 10/- each till the date of this report.

(iv) The Company has not issued any equity shares with differential rights as to dividend, voting or otherwise, during the year under review.

(v) The Company has not issued any sweat equity shares to its Directors or employees, during the period under review.

8. Directors and key managerial personnel:

The Board, as on March 31,2025, comprised of 4 (four) Directors out of which 2 (Two) are Independent Directors, 1 (one) is Non- Executive Non- Independent Director under professional category and 1 (one) is Whole Time Director under professional category.

None of the Directors of the Company have been debarred or disqualified from being appointed or continuing as Director of company by the Securities and Exchange Board of India (SEBI) and Ministry of Corporate Affairs (MCA) or any such other Statutory Authority.

a. Appointments and Resignations of Directors and Key Managerial Personnel:

During the period under review, following changes have been occurred.

Name of the Director	DIN and Designation	Nature of Change	Effective Date of change
Ms. Shobhanaben B. Dave	Independent Director DIN 08768365	Cessation	03.10.2024
Mr. Atulkumar Popat	Independent Director DIN:07323826	Cessation	14.11.2024
Mr. Miteskumar Patel	Independent Director DIN 08768365	Cessation	14.11.2024
Ms. Bhumika Ranpura	Independent Director DIN:10791301	Appointment	03.10.2024
Ms. Payal Dhamecha	Independent Director DIN:10217549	Appointment	03.10.2024
Mr. Viral Ranpura	NED DIN:07177208	Appointment	03.10.2024
Mr. Yash Joshi	CFO	Cessation	03.10.2024
Mr. Dhaval Nagar	Company Secretary and Compliance officer	Cessation	14.11.2024
Ms. Tripti Karwa	Company Secretary and Compliance officer	Appointment	14.11.2024

ID - Independent Director, NED - Non executive director

b. Director Liable to Retire by Rotation:

Ms. Khyati Ranpura, Non-Executive Professional Director is liable to retire by rotation. The information as required to be disclosed under Regulation 36 of the Listing Regulations will be provided in the notice of ensuing Annual General Meeting.

c. Independent Directors:

The Company has received declarations/ confirmations from each Independent Directors under section 149(7) of the Companies Act, 2013 and regulation 25(8) of the Listing Regulations confirming that they meet the criteria of independence as laid down in the Companies Act, 2013 and the Listing Regulations.

The Company has also received requisite declarations from Independent Directors of the Company as prescribed under rule 6(3) of Companies (Appointment and Qualification of Directors) Rules, 2014.

All Independent Directors have affirmed compliance to the Code of Conduct for Independent Directors as prescribed in Schedule IV to the Companies Act, 2013.

In the opinion of the Board, Independent Directors of the Company possess requisite qualifications, experience and expertise and hold highest standards of integrity.

9. Number of meetings of board of directors and committees thereof:

The Board meets at regular intervals to discuss and decide on Company/business policies and strategies apart from other Board businesses. The Board/Committee Meetings are prescheduled and a tentative annual calendar of the Board and Committee Meetings is circulated to the Directors in advance to facilitate them to plan their schedule and to ensure meaningful participation in the meetings.

The Board of Directors of your Company met 7 (seven) Times during the year to carry the various matters on following dates:

Date of the Board Meeting	Number of Directors eligible to attend	Number of Directors who attended
25.05.2024	4	4
20.07.2024	4	4
30.09.2024	4	4
03.10.2024	6	6
14.11.2024	4	4
19.12.2024	4	4
12.02.2025	4	4

The maximum interval between any two consecutive Board Meetings did not exceed the period prescribed under the Companies Act, 2013, the Listing Regulation and circular issued by MCA in this regard.

The Composition of the Committees of the Board and attendance records are as under:

Name of the Member / Chairperson	Designation	No. of meeting attended
Audit Committee:
Mr. Atul Popat	Chairperson (up to 03.10.2024)	2/2
Mr. Miteshkumar Patel	Member (Up to 03.10.2024)	2/2
Ms. Shobhanaben Dave	Member (Up to 03.10.2024)	2/2
Ms. Bhumika Ranpura	Chairperson (w.e.f. 03.10.2024)	2/2
Ms. Payal Dhamecha	Member (w.e.f. 03.10.2024)	2/2
Mr. Viral Ranpura	Member (w.e.f. 03.10.2024)	2/2
Nomination and Remuneration Committee:
Mr. Atul Popat	Chairperson (up to 03.10.2024)	2/2
Mr. Miteshkumar Patel	Member (Up to 03.10.2024)	2/2
Ms. Shobhanaben Dave	Member (Up to 03.10.2024)	2/2
Ms. Bhumika Ranpura	Member (w.e.f. 03.10.2024)	-
Ms. Payal Dhamecha	Chairperson (w.e.f. 03.10.2024)	-
Mr. Viral Ranpura	Member (w.e.f. 03.10.2024)	-
Stakeholder Relationship Committee
Mr. Atul Popat	Chairperson (up to 03.10.2024)	1/1
Ms. Shobhanaben Dave	Member (Up to 03.10.2024)	1/1
Mr. Saurabhkumar Patel	Member (Up to 03.10.2024)	1/1
Ms. Bhumika Ranpura	Member (w.e.f. 03.10.2024)	-
Ms. Payal Dhamecha	Chairperson (w.e.f. 03.10.2024)	-
Mr. Viral Ranpura	Member (w.e.f. 03.10.2024)	-

Further, during the year, there are no such cases where the recommendation of any Committee of Board, have not been accepted by the Board.

10. Directors responsibility statement:

Pursuant to the requirement under Section 134 (3) (c) of the Companies Act, 2013, the Directors hereby confirm and state that:

(a) in the preparation of the annual accounts for the financial year ended March 31, 2025, the applicable accounting standards have been followed and that no material departures have been made from the same;

(b) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period;

(c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(d) the Directors have prepared the annual accounts on a going concern basis;

(e) the Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

(f) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

11. Policy on directors appointment and remuneration:

The Nomination and Remuneration Committee (NRC) works with the Board to determine the appropriate characteristics, skills and experience for the Board as a whole as well as for its individual members with the objective of having a Board with diverse backgrounds and experience in business, government, education and public service. Characteristics expected of all Directors include independence, integrity, high personal and professional ethics, sound business judgement, ability to participate constructively in deliberations and willingness to exercise authority in a collective manner. The Company has in place a Policy on appointment & removal of Directors (Policy). The Nomination and Remuneration Policy is posted on website of the Company and may be viewed at www.umiyatubeslimited.in.

12. Formal performance evaluation of the board:

Pursuant to the provisions of the Companies Act, 2013 and Regulation 34(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an annual performance evaluation of its own performance, the directors individually as well as the evaluation of the working of its Audit and Nomination & Remuneration Committees based on the criteria and framework adopted by the Board.

The Nomination and Remuneration Committee of the Company has laid down the criteria for performance evaluation of the Board, its committees and individual directors including Independent Directors covering various aspects of the Boards functioning such as adequacy of the composition of the Board and its Committees, Board culture, execution and performance of specific duties, obligations and governance.

13. Remuneration policy:

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a policy for selection and appointment of Directors, Senior Management and their remuneration. The Companys shareholders may refer the Companys website for the detailed Nomination & Remuneration Policy of the Company on the appointment and remuneration of Directors including criteria for determining qualifications, positive attributes, independence of a Director; and other matters provided under sub-section (3) of Section 178. The Companys remuneration policy is directed towards rewarding performance based on review of achievements periodically. The remuneration policy is in consonance with the existing industry practice.

14. Corporate Social Responsibility (CSR):

Your company does not fall in the ambit of limit as specified in Section 135 of the Companies Act, 2013 read with Rule framed there under in respect of Corporate Social Responsibility.

15. Corporate Governance

The Corporate Governance Report forms an integral part of this Report and annexed hereto as "Annexure 1", together with the Certificate from the Practicing Company Secretary regarding compliance with the requirements of Corporate Governance as stipulated in Part C of Schedule V to the SEBI (Listing Obligations & Disclosure Requirement) Regulations 2015.

16. Management Discussion and Analysis Report:

Management Discussion and Analysis Report, pursuant to Regulation 34(2)(e) of The SEBI (LODR) Regulations, 2015 is appended as "Annexure 2" to Directors Report.

17. Vigil Mechanism/ Whistle Blower Policy:

The Company has a vigil mechanism for its Board of Directors and employees, to deal with instance of fraud/ mismanagement, if any and to report concerns about unethical behavior, actual or suspected fraud or violation of the Companys code of conduct. The details of policy are posted on the website of the Company.

18. Statement on Risk Management Policy:

Risk assessment and management are critical to ensure long-term sustainability of the business. The Company, has in place, a strong risk management framework with regular appraisal by the top management. The Board of Directors reviews the Companys business risks and formulates strategies to mitigate those risks. The Senior Management team, led by the Whole Time Director, is responsible to proactively manage risks with appropriate mitigation measures and implementation thereof.

19. Particulars of loans, guarantees or investments:

Pursuant to provision of Section 186 of the Companies Act, 2013, the Company has not made investment or given any loan to any person or body corporate or not given any guarantees or provided security in connection with a loan to any other body corporate or person.

20. Particulars of contracts or arrangements with related parties:

There are no particulars of contacts or arrangements with related parties referred to in Section 188(1) of the Companies Act, 2013 which are required to be reported in the prescribed form AOC-2. The details of related party transactions as per IND AS 24 are otherwise reported in the financial statements. The related party transactions are otherwise carried out in the ordinary course of business and on Arms length basis and the same are in the best interest of the Company. The related party transactions are due to business exigencies.

The Policy on materiality of related party transactions and dealing with related party transactions as approved by the Board is available at the link https://umiyatubeslimited.in/policies.html.

21. Internal Financial Control System:

The Company has in place adequate standards, processes and structures to implement internal financial controls with reference to financial statements. Internal control systems comprising of policies and procedures are designed to ensure sound management of your Companys operations, safekeeping of its assets, optimal utilizations of resources, reliability of its financial information and compliance.

Systems and procedures are periodically reviewed to keep pace with the growing size and complexity of your companys operation.

22. Auditors:

(a) Statutory Auditor:

M/s. P. Singhvi & Associates, Chartered Accountants, the existing Auditors of the Company were appointed as Auditors of the Company at the 8^th AGM for holding the office from the conclusion of that 8^th AGM till the conclusion of 13^th AGM.

In view of the Companies (Amendment) Act, 2017, the first proviso in sub-section (1) in section 139 of the Companies Act, 2013 has been omitted with effect from 7^th May, 2018. In view of this, the said appointment of auditor is no longer required to be ratified by the members at every annual general meeting.

The Board has duly reviewed the Statutory Auditors Report on the Accounts. The observations, comments and notes of the Auditor are self-explanatory and do not call for any further explanation /clarification.

Regarding the emphasis matter mentioned in the Auditors report, it is submitted that the Company shall continue to focus on business activities to generate revenue and profitability for the Company in the time to come.

(b) Secretarial Auditor:

Pursuant to provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had appointed Ms. Dipika Soni, Practicing Company Secretaries, as the Secretarial Auditors of the Company to undertake Secretarial Audit for the financial year ended March 31, 2025.

The Secretarial Audit Report for the financial year ended March 31, 2025 is annexed herewith and marked as Annexure 3 to this Report.

Secretarial auditors observations & comments from board:

(i) The Company did not appoint Company Secretary and Compliance officer pursuant to Regulation 6(1) of SEBI (LODR) Regulations 2015.

Response from the Board:

The Company has paid the fine levied by BSE Limited. The Company has also appointed qualified Company Secretary as "Company Secretary and Compliance officer" of the Company. The Company has paid the fine levied by BSE Limited.

(ii) The Company made Delay in submission of Shareholding pattern for the September 2024 and March 2025 quarter pursuant to requirement of Regulation 31 of SEBI (LODR) Regulations 2015.

Response from the Board:

Due to delayed receipt of BENPOS from the Depository, the Company submitted shareholding pattern with delay of 2 days for the period September 2024 quarter. The Company also paid the fine levied by BSE Limited.

(iii) The Company did not appoint Woman Director till the end of the December 2024 quarter pursuant to requirement of Regulation 17(1) of SEBI (LODR) Regulations 2015.

Response from the Board:

The Company has now appointed the Woman Director and has now complied with the requirement of Regulation 17(1) of SEBI (LODR) Regulations 2015. The Company has paid the fine levied by BSE Limited.

(iv) The Audit Committee Composition did not match with the requirement of Regulation 18(1) of SEBI (LODR) Regulations 2015 for the December 2024 quarter and March 2025 quarter.

Response from the Board:

The Company had earlier filed Corporate Governance Report for the December 2024 quarter, with wrong Audit Committee Composition. The Company has paid the fine. However, the Company has submitted revised Corporate Governance Report also with correct Audit Committee Composition for the December 2024 quarter and March 2025 quarter.

(v) The Company did not file the Related Party T ransaction details through integrated filing as per requirement of Regulation 23(9) of SEBI (LODR) Regulations 2015 for the March 2025 quarter.

Response from the Board:

The Company had filed the details of Related Party Transactions through Integrated filing for the March 2025 quarter. However, while filing the same, the Company selected wrong tab about the Related Party Transactions for the quarter and year ended on 31^st March 2025. The Company has filed revised Integrated Filing for the March 2025 quarter along with NIL Related Party Transactions.

(c) Cost auditors and cost audit report:

Pursuant to Section 148 of the Companies Act, 2013, the maintenance of Cost records has not been specified to the Company. Hence disclosure regarding the same is not given.

23. Reporting of frauds by auditors:

During the year under review, the Auditors of the Company have not reported to the Audit Committee, under section 143(12) of the Companies Act, 2013, any instances of fraud committed against the Company by its Officers or Employees, the details of which would need to be mentioned in the Boards Report.

24. Material changes and commitments:

There were no material changes and commitments, affecting the financial position of the Company, which has occurred between the end of the financial year of the Company, i.e. March 31, 2025 till the date of this Directors Report except following:

The Members of the Company in their Extraordinary general meeting held on 8^th August 2025 have considered and passed the resolutions for:

(a) Fresh Issue of fresh 1,05,50,000 convertible warrants of Rs. 10/- each at an issue price of Rs. 23/- per convertible warrant.

(b) Altered the main object clause of the company to manufacture and deal in production, sale, and distribution of tungsten-based products and related items.

25. Details of significant and material orders:

There were no other significant and material orders passed by the regulators/ courts/ tribunals, which may impact the going concern status and the Companys operations in future.

26. Particulars of employees and related disclosures:

(a) The ratio of the remuneration of each Director to the median employees remuneration and other details in terms of sub-section 12 of Section 197 ofthe Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are as under:

1. the Ratio of the Remuneration of each Director to the median employees remuneration, the percentage increase in remuneration of each director, Chief Financial Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the financial year.

During the year 2024-25, the Company has not paid remuneration to the Directors of the Company. Hence, the ratio of remuneration of each Director to the median employees remuneration cannot be measured and hence cannot be compared.

2. The percentage increase in the median remuneration of employees in the financial year and number of permanent employees on the rolls of the Company:

During the year 2024-25, company has paid meager remuneration of Rs. 2.66 Lakhs to the employees of the Company. The employees were not employed throughout the year. Hence, it would be inappropriate to compare the percentage increase in the median remuneration of employees. As on 31^st March 2025, there were only 2 permanent employees on the payroll of the Company.

3. Average percentile increase made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof:

The Company has not paid any managerial remuneration and only paid salary to Company Secretary of the Company, therefore average percentile increase cannot be calculated.

4. Affirmation that the remuneration is as per the remuneration policy of the Company:

The Remuneration is paid as per the remuneration policy of the Company.

(b) 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, there are no employees drawing remuneration in excess of the limits set out in the said rules and hence no further details are provided. Having regard to the provisions 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 by the members through electronic mode. Any member interested in obtaining such information may address their email to umiyatubesltd@gmail.com.

27. Conservation of energy and technology absorption:

The disclosures to be made under Section 134 (3) (m) ofthe Companies Act, 2013 read with Rule 8 (3) of the Companies (Accounts) Rules, 2014 by the Company are as under:

(A) Conservation of Energy

(i) The steps taken or impact on conservation of energy:

Though business operation of the Company is not energy-intensive, the Company, being a responsible corporate citizen, makes conscious efforts to reduce its energy consumption. Some of the measures undertaken by the Company on a continuous basis, including during the year, are listed below:

a) Use of LED Lights at office spaces.

b) Rationalization of usage of electricity and electrical equipment air conditioning system, office illumination, beverage dispensers, desktops.

c) Regular monitoring of temperature inside the buildings and controlling the air- conditioning system.

d) Planned Preventive Maintenance schedule put in place for electromechanical equipment.

e) Usage of energy efficient illumination fixtures.

(ii) Steps taken by the Company for utilizing alternate source of energy.

The business operations of the Company are not energy-intensive, hence apart from steps mentioned above no other steps taken.

(iii) The capital investment on energy conservation equipment:

There is no capital investment on energy conservation equipment during the year under review.

(B) Technology Absorption: NIL

(C) Foreign Exchange Earnings and Outgo: NIL

28. Annual return:

Pursuant to sub-section 3(a) of Section 134 and sub-section (3) of Section 92 of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the extract of Annual Return of the Company as on March 31, 2025 is available on the Companys website and can be accessed at https://umiyatubeslimited.in

29. Secretarial Standard of ICSI:

The Company has complied with the Secretarial Standards on Meeting of the Board of Directors (SS-1) and General Meetings (SS-2) specified by the Institute of Company Secretaries of India (ICSI).

3 0. Code of business conduct and ethics:

The Company has laid down a Code of Conduct (COC) which is applicable to all the Board members and Senior Management of the Company. The COC is available on the website of the Company www.umiyatubeslimited.in. All the members of the Board and the Senior Management have affirmed compliance with the Code.

31. Prevention of sexual harassment:

Your Company is fully committed to uphold and maintain the dignity of women working in the Company and has zero tolerance towards any actions which may fall under the ambit of sexual harassment at workplace. Since, the Company has less than Ten Employees constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 is not applicable. Further, during the year the Company has not received any case related to sexual harassment.

The policy framed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 read with Rules framed thereunder may be viewed at https://umiyatubeslimited.in/policies.html

32. General Disclosures:

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

* Neither the Managing Director nor the Whole-time Directors of the Company receive any remuneration or commission from any of its subsidiaries.

* Issue of debentures/bonds/warrants/any other convertible securities.

* Issue of shares under ESOP scheme

* Scheme of provision of money for the purchase of its own shares by employees or by trustees for the benefit of employees.

* Instance of one-time settlement with any Bank or Financial Institution.

* Application or proceedings under the Insolvency and Bankruptcy Code, 2016

33. Acknowledgement:

Your directors take the opportunity to express our deep sense of gratitude to all users, vendors, government and non-governmental agencies and bankers for their continued support in Companys growth and look forward to their continued support in the future.

Your directors would also like to express their gratitude to the shareholders for reposing unstinted trust and confidence in the management of the Company.

By order of the Board of Directors	Date: 06.09.2025
For, Umiya Tubes Limited Sd/- Viral Ranpura	Khyati Ranpura	Place: Gandhinagar
Whole Time Director	Director
DIN:07177208	DIN:08810551