Unihealth Consultancy Ltd Directors Report

[Pursuant to Section 134(3) of the Companies Act, 2013]

To,

The Members,

Unihealth Hospitals Limited

(Formerly known as Unihealth Consultancy Limited)

The Directors have pleasure in presenting the Sixteenth Annual Report together with the Audited Financial Statements of the Company for the financial year ended on March 31, 2025.

FINANCIAL HIGHLIGHTS

The summary of financial performance of the Company for the year under review is given below:

Particulars	STANDALONE		CONSOLIDATED
	Current Year ended March 31, 2025 (Rs. in Lakhs)	Previous Year ended March 31, 2024 (Rs. in Lakhs)	Current Year ended March 31, 2025 (Rs. In Lakhs)	Previous Year ended 31st March,2024 (Rs. In Lakhs)
1) Revenue from operations	356.10	422.92	5,558.84	4875.00
2) Other Income	330.58	232.63	282.45	160.27
3) Total Revenue	686.68	655.55	5,841.29	5035.27
4) Less: Total Expenses	365.73	276.98	4,112.99	3671.10
5)Profit/(Loss) before tax and Exceptional Item	320.95	378.57	1,728.30	1364.17
6)Exceptional Item	-	-	-	-
7)Profit/ (Loss) Before Tax	320.95	378.57	1,728.30	1364.17
8) Less: Provision for Taxation	-	-	-	-
a) Current Tax	85.70	54.21	206.21	253.35
b) Deferred Tax	(2.49)	20.86	2.05	72.29
c) Tax for earlier years	4.37	-	5.43	-
9) Profit/(Loss) after tax	233.37	303.50	1,514.61	1038.53

STATE OF COMPANYS AFFAIR, OPERATING RESULTS AND PROFITS

Your Company achieved a total income of Rs. 686.68 Lakhs during the current year as against Rs. 655.55 Lakhs in the corresponding previous financial year ended March 31, 2024. EBITDA for the year stood at Rs. 320.95 Lakhs compared to Rs. 378.57 Lakhs for the previous corresponding year. Net Profit for the year stood at 233.37 in the current financial year compared to Rs. 303.50 Lakhs in the previous year.

ADOPTION OF INDIAN ACCOUNTING STANDARDS (IND AS)

The Board of Directors has decided to voluntarily adopt Indian Accounting Standards (IND AS), aligned with International Financial Reporting Standards (IFRS), to enhance the transparency and comparability of the Companys financial statements.

TRANSFER TO GENERAL RESERVES

During the financial year, the Company has not transferred any amount to General Reserves.

DIVIDEND

In order to conserve the resources, your directors do not recommend any dividend on the equity shares of the Company for the financial year 2024-2025.

MATERIAL CHANGES AND COMMITMENTS AFTER END OF THE FINANCIAL YEAR AFFECTING THE FINANCIAL POSITION OF THE COMPANY

There have been no material changes and commitments, affecting the financial position of the Company, which have occurred between the end of the financial year and date of the report.

VARIATION IN TERMS OF UTILISATION OF IPO PROCEEDS

During the course of utilizing the proceeds from the Initial Public Offering (IPO) for the purposes stated in the Prospectus, the Company identified that the full allocation of funds originally designated for investment in its subsidiary, Biohealth Limited, would not be required. In line with its strategic objectives and to effectively pursue and capitalize on immediate growth opportunities, the Board of Directors proposed a reallocation of the unutilized funds to alternate purposes. This variation in the utilization of IPO proceeds was approved by the shareholders through a Special Resolution passed via Postal Ballot on June 26, 2024. The details and rationale for the proposed change were provided in the Postal Ballot Notice dated May 27, 2024, which is available on the Companys website at https://www. unihealthfinancials.com/agm-egm-postal-ballots. The Company now confirms that the reallocated funds have been fully utilized for the revised purpose as approved by the shareholders. The Company remains committed to maintaining transparency and accountability in the deployment of IPO proceeds and will continue to provide timely updates to stakeholders in compliance with applicable regulatory requirements.

PREFERENTIAL ISSUE

The Company has allotted 7,00,000 (Seven Lakh) Convertible Warrants on May 02, 2025, each carrying a face value of Rs. 151/- (Rupees One Hundred Fifty-One only), aggregating to a total of Rs. 10,57,00,000/- (Rupees Ten Crore Fifty-Seven Lakh only), on a preferential basis to the Promoters of the Company. Each Convertible

Warrant is convertible into one fully paid-up equity share of the Company having a face value of Rs. 10/- (Rupees Ten only) each, at a premium of Rs.141/- (Rupees One Hundred Forty-One only) per share, upon receipt of a completed application for conversion from the respective Warrant holders, in accordance with the applicable provisions of law.

CHANGE IN NAME OF THE COMPANY

The name of the Company was changed from "Unihealth Consultancy Limited" to "Unihealth Hospitals Limited" with effect from October 14, 2024.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

Mr. Parag Shah (DIN: 07773426), Director of the Company, retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment.

Mr. Ajay Kumar Thakur (DIN: 02910317) was appointed as anAdditional Director of the Company with effect from July 05, 2024. He was also appointed as an Independent Director for a term of five years commencing from the same date, subject to the approval of the members at the general meeting. His appointment was subsequently approved by the shareholders at the Annual General Meeting held on September 12, 2024.

Dr. Harsh Sheth (DIN: 09057782), resigned as Independent Director of the Company with effect from July 06, 2024. The Board of Directors places on record their sincere appreciation for the contributions made by Dr. Harsh Sheth during his tenure as Independent Director of the Company.

Ms. Prajakta Suresh Bhor (ACS: A55171) resigned from the position of Company Secretary with effect from May 1, 2024, consequently ceased to be the Compliance Officer as well. The Board places on record its sincere appreciation for her valuable contributions during her tenure.

Ms. Binita Patel (ACS: 46394) was appointed as the CompanySecretary and Compliance Officer of the Company with effect from May 7, 2024.

Key Managerial Personnel (‘KMP):

In terms of the provisions of Sections 2(51) and 203 of the Companies Act, 2013 (‘the Act), the following are the KMPs of the Company:

Dr. Akshay M. Parmar, Chairman & Managing Director

Mr. Parag Shah, Executive Director & CFO

Ms. Binita Patel, Company Secretary & Compliance Officer

DECLARATION FROM INDEPENDENT DIRECTORS

The Independent Directors of the Company have submitted their declarations under Section 149(7) of the Companies Act, 2013, confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Act and Regulation 16 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time. Further, they have confirmed that there has been no change in the circumstances affecting their status as Independent Directors during the year. In the opinion of the Board, the Independent Directors possess the requisite integrity, expertise, experience, and balance of skills and knowledge as required for effective functioning.

MEETINGS OF THE BOARD OF DIRECTORS

The Board of Directors of the company met 7 (Seven) times during the year on May 06, 2024, May 23, 2024, July 05, 2024, October 28, 2024, November 11, 2024, March 10, 2025 and March 31, 2025.

The details of meetings attended by the Directors are as follows:

Sr. No. Name	No. of Board Meetings attended
Dr. Akshay M. Parmar	7
Dr. Anurag Shah	6
Mr. Parag Shah	6
Dr. Harsh Sheth (upto July 06, 2024)	2
Mr.Ajay Kumar Thakur (Appointed w.e.f. July 05, 2024)	3
Ms. Riddhi Javeri	5

AUDIT COMMITTEE OF BOARD OF DIRECTORS

In view of the resignation of Dr. Harsh Sheth, the Audit Committee of the Board was reconstituted on July 05, 2024, following the appointment of Mr. Ajay Kumar Thakur. Prior to its reconstitution, the Audit Committee comprised Dr. Harsh Sheth, Ms. Riddhi Javeri, and Mr. Parag Shah. Post-reconstitution, the Committee now comprises Ms. Riddhi Javeri, Mr. Parag Shah, and Mr. Ajay Kumar Thakur, with Ms. Riddhi Javeri serving as the Chairperson.

The Audit Committee currently consists of two Non-Executive, Independent Directors and one Non-Independent, Executive Director.

During the financial year under review, 3 (Three) meetings of the Audit Committee were held on May 23, 2024, November 11, 2024 and March 10, 2025.

The details of meetings attended by the members are as follows:

Sr. No. Name	No. of Meetings attended
1. Dr. Harsh Sheth (upto July 06, 2024)	1
2. Mr. Ajay Kumar Thakur (Appointed w.e.f. July 05, 2024)	2
3. Ms. Riddhi Javeri	3
4. Mr. Parag Shah	3

NOMINATION AND REMUNERATION COMMITTEE:

In view of the resignation of Dr. Harsh Sheth, the Nomination and Remuneration Committee of the Board of Directors of the Company was reconstituted upon the appointment of Mr. Ajay Kumar Thakur, with effect from July 05, 2024. The reconstituted Committee comprises Mr. Ajay

[Pursuant to Section 134(3) of the Companies Act, 2013]

Kumar Thakur, Dr. Anurag Shah, and Ms. Riddhi Javeri, with Ms. Riddhi Javeri serving as the Chairperson of the Committee.

The Nomination and Remuneration Committee currently consists of two Non-Executive, Independent Directors and one Non-Independent, Non-Executive Director.

During the year under review, the Nomination and Remuneration Committee met twice, on May 06, 2024 and July 05, 2024.

The details of meetings attended by the members are as follows:

Sr. No. Name	No. of Meetings attended
1. Dr. Harsh Sheth (upto July 06, 2024)	1
2. Mr. Ajay Kumar Thakur (Appointed w.e.f. July 05, 2024)	-
3. Dr. Anurag Shah	2
4. Ms. Riddhi Javeri	1

STAKEHOLDERS RELATIONSHIP COMMITTEE:

In view of the resignation of Dr. Harsh Sheth, the Nomination and Remuneration Committee of the Board of Directors of the Company was reconstituted upon the appointment of Mr. Ajay Kumar Thakur, with effect from July 05, 2024. The reconstituted Committee comprises Mr. Ajay Kumar Thakur, Dr. Akshay M. Parmar, and Ms. Riddhi Javeri. Mr. Ajay Kumar Thakur serves as the Chairman of the Committee.

The Stakeholders Relationship Committee consists of two Non-Executive, Independent Directors and one Executive Director.

During the financial year under review, the Committee met once, on March 10, 2025.

The details of meetings attended by the members are as follows:

Sr. No. Name	No. of Meetings attended
1. Mr. Ajay Kumar Thakur (Appointed w.e.f. July 05, 2024)	1
2. Ms. Riddhi Javeri	1
3. Dr. Akshay M. Parmar	1

VIGIL MECHANISM

The Company has formulated and published a Whistle Blower Policy to provide a mechanism ("Vigil Mechanism") for employees including directors of the Company to report genuine concerns. The provisions of this policy are in line with the provisions of the Section 177 (9) of the

Act. The Whistle Blower Policy (Vigil Mechanism) is uploaded on the Company web link: https://www.unihealthonline.com/codes-policies

POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION AND CRITERIA FOR INDEPENDENT DIRECTORS

The Remuneration Policy for directors and senior management and the Criteria for selection of candidates for appointment as directors, independent directors, senior management are placed on the website of the Company at the web link: https://www.unihealthonline.com/ codes-policies.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, confirm that: a. in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures; b. They have selected such accounting policies and applied 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 as at March 31, 2025 and of the profit of the Company for the period ended on that date; c. They have taken proper and sufficient care was taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d. They have prepared the annual accounts of the Company on a going concern basis; e. They have laid down internal financialcontrols to be followed by the Company and such internal financial controls are adequate and operating effectively; f. They have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

ADEQUACY OF INTERNAL FINANCIAL CONTROLS

The Company has proper and adequate system of internal financial controls commensurate with its nature and size of business and meets the following objectives:

• Providing assurance regarding the effectiveness and efficiency of operations;

Efficient use and safeguarding of resources;

• Compliance with policies, procedures and applicable laws and regulations;

• Transactions being accurately reported and recorded timely The Company has budgetary control system to monitor expenditures and operations against budgets on an ongoing basis. The internal auditors also review the adequacy of internal financial control system.

DETAILS OF SUBSIDIARY, JOINT VENTURE OR ASSOCIATE COMPANIES

The Company incorporated Unihealth Holdings Limited as its wholly owned subsidiary in Mauritius on May 07, 2024, and UMC Hospitals Private Limited as its subsidiary in India on May 22, 2024.

The Company currently has the following subsidiary, associate, and joint venture companies:

Name of the Company	Holding/Subsidiary/ Associate/Joint Venture	% of Shares held	Applicable section
Aryavarta FZE	Subsidiary	100	2(87)ii
Unihealth Pharmaceuticals Pvt. Ltd.	Subsidiary	100	2(87)ii
*Biohealth Limited	Subsidiary	99.01	2(87)ii
Unihealth Tanzania Limited	Subsidiary	80	2(87)ii
Victoria Hospital Limited	Joint Venture	50	2(6)
**UMC Global Health Limited	Subsidiary	51	2(87)ii
Unihealth (U) Limited	Associate	45	2(6)
Unihealth Holdings Limited	Subsidiary	100	2(87)ii
UMC Hospitals Private Limited	Subsidiary	80	2(87)ii
UHS Oncology Private Limited	Associate	33.33%	2(6)

* Biohealth Limited shall now be classified as an indirect subsidiary and a direct associate company of the Company due to acquisition of its equity shares by Unihealth Holdings Limited, Mauritius, a Wholly Owned Subsidiary of the Company w.e.f. July 17, 2025.

**UMC Global Health Limited, a Joint Venture Company, has become a Subsidiary of the Company w.e.f. October 01, 2024.

CONSOLIDATED FINANCIAL STATEMENTS

The Company has consolidated the financial statements of its subsidiaries, associates, and joint ventures in accordance with Section 129(3) of the Companies Act and the relevant rules made thereunder during the financial period.

HIGHLIGHTS OF PERFORMANCE OF SUBSIDIARIES, ASSOCIATES AND JOINT VENTURE COMPANIES

As on March 31, 2025, the Company has 7 (Seven) Subsidiaries 2 (Two) Associate companies, and 1(One) Joint venture. There has been no material change in the nature of business of any of the subsidiaries during the year. Pursuant to the provisions of Section 129(3) of the Companies Act, 2013, a statement containing the salient features of the financial statements of the Companys subsidiaries, associates, and joint venture in Form AOC-1 is attached to the financial statements of the Company.

Further, pursuant to the provisions of Section 136 of the Act, the financial statements of the Company, consolidated financial statements along with relevant documents and separate audited financial statements in respect of subsidiaries, are available on the Companys web link: https://www.unihealthfinancials.com/financials-of-subsidiaries-joint-venture-and-associate-cos

ANNUAL RETURN

Pursuant to the provisions of Section 134(3)(a) and Section 92 of the Act read with Rule 12 of the Companies (Management and Administration) Rules, 2014, Annual Return of the Company as at March 31, 2025 is uploaded on the website of the Company web link: https://www.unihealthfinancials.com/forms.

STATUTORY AUDITORS

At the Fifteenth Annual General Meeting (AGM) of the Company held on September 12, 2024, the Members approved the re-appointment of M/s. G. P. Kapadia & Co., Chartered Accountants (Firm Registration No. 104768W), as the Statutory Auditors of the Company for a period of three years, commencing from the conclusion of the Fifteenth AGM until the conclusion of the Eighteenth AGM to be held in the year 2027. M/s. G. P. Kapadia & Co., Chartered Accountants, have submitted a certificate confirming that their re-appointment is in accordance with the provisions of Section 139 read with Section 141 of the Companies Act, 2013.

SECRETARIAL AUDIT

Pursuant to the provisions of Section 204 and other applicable provisions, if any, of the Companies Act, 2013, M/s. Parikh & Associates, Practising Company Secretaries were appointed as the Secretarial Auditors for auditing the secretarial records of the Company for the financial year 2024-2025. The Secretarial Audit Report in Form MR-3 is annexed to this report as "Annexure I".

AUDITORS REPORT AND SECRETARIAL AUDITORS REPORT

The Statutory Auditors Report for the financial year 2024-25 and the Secretarial Audit Report for the year 2024-25 do not contain any qualifications, reservations, or adverse remarks.

REPORTING OF FRAUD BY AUDITORS

During the financial year under review, the Statutory Auditors of the Company have not reported any instances of fraud committed against the Company under the second proviso of Section 143(12) of the Act

COST AUDITORS

The maintenance of cost records and cost audit provisions are not applicable to the Company as required under Section 148 of the Companies Act, 2013, read with the Companies (Cost Records and Audit) Rules, 2014.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

The provisions of Section 135 of the Act read with Companies (Corporate Social Responsibility Policy) Rules, 2014 are not applicable to the Company for the year under report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORBTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

The details of conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:

(a) Conservation of Energy

During the year, the Company implemented stringent controls to reduce wasteful electrical consumption. Lights and power were turned off wherever not necessary.

(b) Technology Absorption i. Efforts, in brief, made towards technology absorption during the year under review: NIL ii. Benefits derived as a result of the above efforts, e.g., product improvement, cost reduction, product development, import substitution, etc.: Not Applicable iii. In case of imported technology (imported during the last 3 years reckoned from the beginning of the financial year), following information may be furnished: Not Applicable iv. Expenditure incurred on Research and Development: NIL

(c) Foreign Exchange Earnings And Outgo

Foreign Exchange Earnings	: Rs. 392.81 Lakhs
Foreign Exchange Outgo	: Rs. 12.90 Lakhs

PARTICULARS OF EMPLOYEES

Pursuant to Section 197 of the Act read with rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the particulars of employees are annexed as "Annexure II".

The information required under Rule 5(2) and (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided in the Annexure forming part of this Report. In terms of the proviso to Section 136 of the Act, the Report and Accounts are being sent to the Members excluding the aforesaid Annexure. Any member interested in obtaining the same may write to the Company Secretary at the Registered Office of the Company.

DISCLOSURE OF REMUNERATION

Dr. Akshay M. Parmar, Managing Director of the Company, has also been appointed as the Managing Director and Chief Executive Officer of UMC Hospitals Private Limited, a subsidiary of the Company. He is drawing remuneration from both companies with effect from July 01, 2025, in accordance with the limits approved by the shareholders through a Special Resolution passed at the Extra-Ordinary GeneralMeeting held on April 29, 2023.

DEPOSITS FROM PUBLIC

During the year under review, your Company had not accepted any deposits from public in terms of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposit) Rules, 2014.

SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORY/ JUDICIAL AUTHORITY

There are no significant or material orders passed by any regulator or court that would impact the going concern status of the Company and its future operations.

THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF

During the year under review, there was no instance of one-time settlement with banks or financial institutions.

NO PENDING PROCEEDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016

During the year under review, there were no proceedings pending against the Company under the Insolvency and Bankruptcy Code, 2016. Further, there were no instances of one-time settlement with any bank or financial institution during the year.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

The particulars of loans given, guarantees provided, and investments made or securities offered during the year under review, as required under Section 186 of the Companies Act, 2013, are disclosed in the Notes to the Financial Statements, which form part of this Annual Report.

RISK MANAGEMENT POLICY

The Board of Directors of the Company have framed a Risk Assessment and Management Policy and are responsible for reviewing the risk management plan and ensuring its effectiveness. The Audit Committee exercises additional oversight in the area of financial risks and controls. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuing basis.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

All transactions, contracts, or arrangements entered into by the Company with related parties during the year under review, as specified under Section 188(1) of the Companies Act, 2013, were in the ordinary course of business and on an arms length basis. Accordingly, the disclosure of such related party transactions in Form AOC-2, as required under the Companies Act, 2013, is not applicable to the Company.

The Board of Directors have approved a policy on related party transactions which is placed on the Companys website at the web link: https://www.unihealthonline.com/codes-policies

ANNUAL EVALUATION OF THE BOARD ON ITS OWN PERFORMANCE, ITS COMMITTEES AND INDIVIDUAL DIRECTORS

An annual evaluation of the Boards own performance, its Committees and Individual Directors was carried out pursuant to the provisions of the Act in the following manner:

Sr. No. Performance evaluation of	Performance evaluation performed by	Criteria
1 Each Individual Directors	Nomination and Remuneration Committee	Attendance, Contribution to the Board and Committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and guidance provided, key performance aspects in case of Executive Directors etc.
2 Independent Directors	Entire Board of Directors excluding the Director who is being evaluated	Attendance, Contribution to the Board and Committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution, and guidance provided etc.
3. Board, and its Committees	All Directors	Board composition and structure; effectiveness of Board processes, information and functioning, fulfilment of key responsibilities, performance of specific duties and obligations, timely flow of information etc. The assessment of Committees based on the terms of reference of the committees and effectiveness of the meetings.

In a meeting of Independent Directors, performance of Non-Independent Directors, the Board as a whole and the Chairman of the Company after taking into account the views of Executive Directors and Non-Executive Directors, was evaluated.

LISTING FEES

The Company has paid the listing fees to National Stock Exchange of India Limited for the financial year 2025-26.

INSIDER TRADING REGULATIONS AND CODE OF DISCLOSURE

The Board of Directors has adopted the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information and Code of Internal Procedures and Conduct for Regulating, Monitoring and reporting of Trading by Insiders in accordance with the requirements of the SEBI (Prohibition of Insider Trading) Regulation, 2015 and is available on our website. Web link: https://www.unihealthonline.com/codes-policies

MANAGEMENTS DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report for the year under review, as stipulated under Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, forms part of this Annual Report and is annexed as Annexure III.

CORPORATE GOVERNANCE REPORT

In accordance with the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the requirements relating to Corporate Governance are not applicable to the Company, as it is listed on the SME Platform as a Small and Medium-sized Enterprise (SME).

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

The Company has complied with provisions relating to the constitution of Internal Complaints Committee and has in place an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. All employees (permanent, contractual, temporary, trainees) are covered under this policy.

The Company has not received any complaint of sexual harassment during the financial year 2024-25.

a) Number of complaints of sexual harassment received in the year	Nil
b) Number of complaints disposed off during the year	Nil
c) Number of complaints pending for more than ninety days	Nil

STATEMENT ON MATERNITY BENEFIT ACT, 1961

During the financial year under review, the Company has duly complied with the applicable provisions of the Maternity Benefit Act, 1961.

SECRETARIAL STANDARDS

The Company has devised proper systems to ensure compliance with the provisions of all applicable secretarial standards issued by the Institute of Company Secretaries of India and that such systems are adequate and operating effectively.

ACKNOWLEDGEMENT

The Directors wish to place on record their sincere appreciation for excellent support received from the Banks and financial institutions during the financial year under review. Your Directors also express their warm appreciation to all employees for their contribution to your Companys performance and for their superior levels of competence, dedication and commitment to your Company, in India as well as outside India. The Directors express gratitude to Companys customers and vendors. The Directors are also grateful to you, the Shareholders for the confidence you continue to repose in the Company.

For and on behalf of the Board

Akshay M. Parmar

Chairman & Managing Director DIN: 01533004

Place: Mumbai

Date: August 26, 2025.