Valencia India Ltd Directors Report

DIRECTORS REPORT

To,

The Members,

VALENCIA INDIA LIMITED

(Formerly known as VALENCIA INDIA PRIVATE LIMITED)

Your directors are pleased to present Ninth (9^th) Annual Report on the business and operations of the Company together with the Audited Statements of Accounts for the financial year ended on March 31, 2026.

1. FINANCIAL SUMMARY AND HIGHLIGHTS

The financial performance of the company for the financial year ended on March 31, 2026 is given below:

		(Rs. in Lakhs)
Particulars	2025-2026	2024-2025
Revenue from Operations	892.98	767.73
Other Income	2.90	-
Total Revenue	895.88	767.73
Less Depreciation	66.94	47.00
Profit Before Tax	303.62	284.23
Less Current Income Tax	20.15	59.06
Less Previous year adjustment of Income Tax	50.94	-
Less Deferred Tax	12.66	13.87
Net Profit after Tax	219.86	211.30
Earnings per share (Basic)	1.84	2.35
Earnings per Share (Diluted)	1.84	2.35

2. NATURE OF BUSINESS

The Company is involved in the Hospitality Business.

3. FINANCIAL PERFORMANCE

The Company has turnover of Rs. 892.98/- (Rs. In Lakhs) and the company has book Net Profit of Rs. 219.86/- (Rs. in Lakhs) for the year under review.

The Earnings Per Share of the financial year under review is 1.84 whereas of the last financial year is 2.35.

4. DIVIDEND

Your directors do not recommend payment of any dividend for the financial year under review, as the company has no earnings to distribute as dividend among the members.

5. TRANSFER TO IEPF

The Company is not required to transfer any amount to IEPF Account.

6. RESERVES

Whole of the Net Profit earned has been transferred to the reserves for the year under review.

7. SHARE CAPITAL

Authorized Capital:

The Authorized Share capital of the Company as on March 31, 2026 is Rs. 13,50,00,000.

Issued, Subscribed and Paid-up Capital:

The Issued, Subscribed and Paid-up Capital of the Company is Rs. 12,99,96,000.

Initial Public Offer (Ipo):

During the year under review, the Company successfully completed its Initial Public Offer ("IPO") comprising a fresh issue of 39,99,600 Equity Shares and an Offer for Sale of 4,50,000 Equity Shares, aggregating to 44,49,600 Equity Shares at an issue price of ^110 per Equity Share, aggregating to approximately ^48.95 Crores. The IPO was opened for subscription from June 26, 2025 to June 30, 2025, and the basis of allotment was finalized on July 01, 2025.

Pursuant to the successful completion of the IPO, the Equity Shares of the Company were listed and admitted for trading on the BSE SME Platform with effect from July 03, 2025. The listing marks an important milestone in the Companys growth journey and provides the Company with access to the capital markets and enhanced visibility among investors.

8. DETAILS OF HOLDING/SUBSIDIARY/ASSOCIATE COMPANIES/ JOINT VENTURES

The Company does not have any Holding/Subsidiary/Associate Company/Joint Ventures.

Statement Containing Salient Features of Financial Statements of Associate Company:

Your Company is not having any Associate Company and hence the statement containing the salient feature of the financial statement of a companys associate Company under the first proviso to subsection (3) of section 129 in the prescribed Form AOC-1 does not form part of Directors Report.

Details of New Subsidiary/ Joint Ventures/Associate Companies:

There are no new Subsidiary/Joint Ventures/Associate Companies of the Company during the year under review.

Details of the Company who ceased to be its Subsidiary/ Joint Ventures/ Associate Companies:

Sr no.	Name of Company	Subsidiary / Joint Venture / Associate Company	Date of cessation of Subsidiary / Joint Venture / Associate Company
-	-	-	-

9. BOARD OF DIRECTORS, MEETINGS AND ITS COMMITTEES

• APPOINTMENTS ON BOARD

During the financial year under review, there were no appointments, resignations, retirement, removal, or any other changes in the composition of the Board of Directors of the Company. Accordingly, the composition of the Board remained unchanged throughout the financial year ended March 31, 2026.

• NUMBER OF BOARD MEETINGS

• Ten Board Meetings were held during the Financial Year ended March 31, 2026, in respect of which meetings proper notice were given and the proceedings were properly recorded and signed in the

Minutes Book maintained for the purpose. The maximum gap between any two Board Meetings was less than one Hundred and Twenty days.

• The names of Directors of the Board, their attendance at the Board Meetings are as under:

SRN	Date of Board Meeting	Present No. of Directors
1	04.04.2025	5
2	26.04.2025	5
3	01.05.2025	5
4	26.05.2025	5
5	18.06.2025	5
6	01.07.2025	5
7	01.09.2025	5
8	12.11.2025	5
9	02.01.2026	5
10	13.01.2026	5

• ATTENDANCE OF DIRECTORS AT BOARD MEETING AND ANNUAL GENERAL MEETING (AGM):

Name of the Director	Nature of Directorship	Number of Board Meeting attended during the year	Whether attended last AGM
Keyur Jitendra Patel	Managing Director	10	Yes
Dhavalkumar Kaushikkumar Chokshi	Executive Director	10	Yes
Prakash Deepakbhai Mahida	Non-Executive Director	10	Yes
Bhuwnesh Kumar	Non-Executive- Independent Director	10	Yes
Amita Chhaganbhai Pragada	Non-Executive- Independent Director	10	Yes

• DIRECTOR RETIRED BY ROTATION:

Mr. Prakash Deepakbhai Mahida (DIN: 08165045), who retire by rotation and being eligible, offers himself for re-appointment as Director in this AGM.

• MEETING OF INDEPENDENT DIRECTORS:

A Separate meeting of the Independent Directors of the Company was held on March 23, 2026 at registered office of the Company as per Section 149(8) read with Schedule IV of Companies Act, 2013.

• APPOINTMENT OF KEY-MANAGERIAL PERSONNEL:

During the financial year under review, there was no appointment of any Key Managerial Personnel (KMP) in the Company. Accordingly, there was no change in the Key Managerial Personnel of the Company during the year under review.

• DECLARATION BY INDEPENDENT DIRECTORS:

All Independent Directors have given declarations to the effect that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013. In the opinion of the Board,

Independent Directors fulfill the conditions specified in the Act, Rules made there under and Listing Regulations.

• FORMAL ANNUAL EVALUATION OF THE PERFORMANCE OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTORS:

During the year, the Board carried out an Annual Evaluation of its own performance and the performance of individual Directors, as well as evaluation of the Committees of the Board under the provisions of Section 134 (3)(p) of the Act, relevant Rules, as prescribed. They were satisfied with the overall performance of the Directors individually and that the Directors generally met their expectations of performance.

• STA TEMENT OF BOARD ON INDEPENDENT DIRECTOR:

All the Independent directors appointed during the year under review are of utmost integrity, expertise and experience and has passed the proficiency test conducted by the Indian Institute of Corporate Affairs.

• COMMITTEES OF THE BOARD

The provisions of the Companies Act, 2013 and the Securities Exchange Board of India (Listing Obligations and Disclosures Requirements), Regulation, 2015 have prescribed and mandated Forming of Committees of the Board for efficient working and effective delegation of work and to ensure transparency in the practices of the Company.

Accordingly, the Committees formed by the Board are as follows:

1. Audit Committee

Pursuant to Section 177 of the Companies Act, the Board has formed an Audit Committee. The details of which is disclosed herewith.

The Audit Committee of your Company was formed with the purpose of ensuring Transparency, Efficiency & Accountability in the transactions of the Company. Further to recommend Appointment & Remuneration of the Statutory Auditors of the Company, examining the Financial Statements, approving Related Party transactions, carrying out valuation of various Undertakings/Assets of the Company etc.

During the year, the Audit Committee Constituted of the following persons:

Sr No.	Name of Member	Designation	Designation in Committee	No. of Meeting Attended
1	Mr. Bhuvnesh Kumar	Independent Director	Member	6
2	Ms. Amita Pragada	Independent Director	Chairperson	6
3	Mr. Prakash Deepakbhai Mahida	Non-executive Director	Member	6

The Audit Committee is constituted and has met Six times during the Financial Year 2025-26 on 10^th June,2025, 01^st July,2025, 1^st September,2025, 12^Th October, 2025,2^nd January,2026 and 23^rd February,2026.

2. Nomination and Remuneration Committee:

The Company pursuant to Section 178(1) of the Companies Act, 2013 has formed the Nomination and Remuneration Committee. The details of which is disclosed herewith. The policy is available on the following web-link of the Company: https://www.valenciaindia.in/

The Committee is, inter-alia has been formed to identify persons who are qualified to become Directors of the Company and who may be appointed in the Senior Management along with the evaluation of Directors performance, formulating criteria for determining positive attributes and independence of a director and recommending policy relating to the remuneration of the Directors, Key Managerial Personnel and other employees and granting of Employee Stock Options to eligible employees.

During the year, the Nomination & Remuneration Committee constituted of the following persons:

SRN	Name of Member	Designation	Designation in Committee	No. of Meeting Attended
1	Mr. Bhuvnesh Kumar	Independent Director	Chairperson	2
2	Ms. Amita Pragada	Independent Director	Member	2
3	Mr. Prakash Deepakbhai Mahida	Non-executive Director	Member	2

The Nomination Remuneration Committee is constituted and has met once during the Financial Year 2025-26 i.e., on 10^th June,2025 and 2^nd January,2026.

3. Stakeholders Relationship Committee

The Board has in accordance with the provisions of Section 178(5) of the Companies Act, 2013 constituted Stakeholder Relationship Committee. The details of which is disclosed herewith. The Stakeholders Relationship Committee has been formed to resolve the grievances of various stakeholders of the Company. Its scope of work includes overseeing the performance of the RTA and take note of the complaints received, issuing of duplicate share certificates in case of loss/ theft or torn certificate, redressal of issues related to non-receipt of dividend/Annual report, etc.

The Committee, inter alia, started overseeing and reviewing all matters connected with the shares and looks into shareholders complaints.

No complaints were received by the Company from the shareholders / investors during the Financial Year 2025-26 and no investor complaints were outstanding as on 31st March 2026.

During the year, the Stakeholder Relationship Committee constituted of the following persons:

SRN	Name of Member	Designation	Designation in Committee	No. of Meeting Attended
1	Mr. Bhuvnesh Kumar	Independent Director	Member	1
2	Ms. Amita Pragada	Independent Director	Chairperson	1
3	Mr. Prakash Deepakbhai Mahida	Non-executive Director	Member	1

The Stakeholder Relationship Committee is constituted and has met four times during the Financial Year 2025-26 on 2^nd Janaury,2026.

10. RISK MANAGEMENT POLICY

Risk Management is the process of identification, assessment and prioritization of risks followed by coordinated efforts to minimize, monitor and mitigate/control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. The Company has laid down a comprehensive Risk Assessment and Minimization Procedure which is reviewed by the Board from time to time. These procedures are reviewed to ensure that executive management controls risk through means of a properly defined framework. The major risks have been identified by the Company and its mitigation process/measures have been formulated in the areas such as business, project execution, event, financial, human, environment and statutory compliance.

11. THE VIGIL MECHANISM/ WHISTLE BLOWER POLICY:

Your Company believes in promoting a fair, transparent, ethical and professional work environment. The Board of Directors of the Company has established a Whistle Blower Policy & Vigil Mechanism in accordance with the provisions of the Companies Act, 2013 and the SEBI (LODR) Regulations, 2015 for reporting the genuine concerns or grievances or concerns of actual or suspected, fraud or violation of the Companys code of conduct. The said Mechanism is established for directors and employees to report their concerns. The policy provides the procedure and other details required to be known for the purpose of reporting such grievances or concerns.

The policy is available on the following web-link of the Company: https://www.valenciaindia.in/

12. CORPORATE SOCIAL RESPONSIBILITY

Corporate Social Responsibility under section 135(1) of Companies Act, 2013 is not applicable, as the company does not have Net worth of Rs. 500 crores or Turnover of Rs. 1000 crores or Net Profit of Rs. 5 crores during the period which is under review and hence the company is not required to comply with the provision of section 134(3) (o) of the Companies Act, 2013. Further the company has not constituted Corporate Social Responsibility Committee.

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

The information pertaining to conservation of energy, technology absorption, foreign exchange Earnings and outgo as required under Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 regarding conservation of energy and technology absorption is Nil.

(A) Conservation of energy-
the steps taken or impact on conservation of energy;	NIL
the steps taken by the company for utilizing alternate sources of energy	NIL
the capital investment on energy conservation equipments	NIL
(B) Technology absorption-
the efforts made towards technology absorption;	NIL
the benefits derived like product improvement, cost reduction, product development or import substitution;	NIL
in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)	NA
(a) the details of technology imported;
(b) the year of import;
(c) whether the technology been fully absorbed;
(d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof; and
(iv) The expenditure incurred on Research and Development.
(C) Foreign exchange earnings and Outgo-
The Foreign Exchange earned in terms of actual inflows during the year	NA
The Foreign Exchange outgo during the year in terms of actual outflows.	NA

14. OTHER STATUTORY DISCLOSURES

Disclosure of Remuneration paid to Director and Key Managerial Personnel and Employees:

The details with regard to payment of remuneration to Director and Key Managerial Personnel pursuant to Section 197(12) of Companies Act, 2013 is provided in separate annexure to the Report as "Annexure- I", which forms part of this Report.

Remuneration to Employees

None of the employee has received remuneration exceeding the limit as stated in rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

Particulars of contracts or arrangements with related parties:

All Transactions/Contracts/Arrangements entered into by the Company with Related Party (ies) as provided under the provisions of Section 2 (76) of the Companies Act, 2013, during the Financial Year under review were in ordinary course of business and on an Arms Length Basis.

Further, none of these Contracts / Arrangements / Transactions with Related Parties could be considered material in nature as per the thresholds given in Rule 15(3) of the Companies (Meetings of Board and its Powers) Rules, 2014 and hence no disclosure is required to be given in this regard.

The details are disclosed in Form AOC-2 which is annexed as "Annexure-M", which forms part of this Report.

Particulars of Loan, Guarantee and Investments under Section 186 of the Act:

Pursuant to the provisions of Section 186 of the Companies Act, 2013, read with The Companies (Meetings of Board and its Powers) Rules, 2014 as amended from time to time (including any amendment thereto or re-enactment thereof for the time being in force), Loans, guarantees and investments covered under Section 186 of the Companies Act, 2013 form part of Financial Statements provided in this Annual Report.

Deposits

The Company has not accepted any deposits from the public within the meaning of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014.

Board Diversity

The Company recognizes and embraces the importance of a diverse board in its success. The Company believes that a truly diverse board will leverage differences in thought, perspective, knowledge, skill, regional and industry experience, cultural and geographical background, age, ethnicity, race and gender, which will help the Company to retain its competitive advantage.

Disclosures as per the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013:

The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment at Workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules made there under for prevention and Redressal of complaints of sexual harassment at workplace.

The objective of this policy is to lay clear guidelines and provide right direction in case of any reported incidence of sexual harassment across the Companys offices and take appropriate decision in resolving such issues.

During the financial year 2025-26, the Company has not received any compliant on sexual harassment. The policy is available on the following web-link of the Company:

Material changes and commitments affecting the financial position of the Company:

Initial Public Offer (IPO):

During the financial year under review, the Company successfully completed its Initial Public Offer ("IPO") comprising a Fresh Issue of 39,99,600 Equity Shares and an Offer for Sale of 4,50,000 Equity Shares, aggregating to 44,49,600 Equity Shares at an issue price of ^110 per Equity Share, aggregating to approximately ^48.95 Crores. The IPO opened for subscription on June 26, 2025 and closed on June 30, 2025, and the basis of allotment was finalized on July 01, 2025.

Pursuant to the successful completion of the IPO, the Equity Shares of the Company were listed and admitted for trading on the BSE SME Platform with effect from July 03, 2025. The successful completion of the IPO and listing of the Companys Equity Shares on the BSE SME Platform constituted a significant corporate development during the year and strengthened the Companys capital base, visibility and access to the capital markets.

Significant and material orders passed by the regulators or Courts or Tribunals impacting the going concern status and Companys Operations in Future:

As per the information available with the Board of Directors, there were no such orders passed against the Company.

Change in the Nature of Business

There is no change in Business during the year.

Shifting of Registered Office of The Company:

During the financial year under review, there was no change in the Registered Office of the Company.

The Registered Office of the Company continued to remain at the same address throughout the year.

Internal Financial Control Systems and their adequacy

Internal Financial Controls are an integrated part of the risk management process, addressing financial and financial reporting risks. The internal financial controls have been documented, digitized and embedded in the business processes.

Assurance on the effectiveness of internal financial controls is obtained through management reviews, control self- assessment, continuous monitoring by functional experts as well as testing of the internal financial control systems by the internal auditors during the course of their audits.

We believe that these systems provide reasonable assurance that our internal financial controls are designed effectively and are operating as intended.

Disclosure Under Section 43(A) (II) Of the Companies Act, 2013:

The Company has not issued any shares with differential rights and hence no information as per provisions of Section 43 (a) (ii) of the Act read with Rule 4 (4) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

Disclosure Under Section 54(1)(D) Of the Companies Act, 2013

The Company has not issued any sweat equity shares during the year under review and hence no information as per provisions of Section 54 (1) (d) of the Act read with Rule 8 (13) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

Disclosure Under Section 62(1)(B) Of the Companies Act, 2013

The Company has not issued any equity shares under Employees Stock Option Scheme during the year under review and hence no information as per provisions of Section 62 (1) (b) of the Act read with Rule 12 (9) of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.

Disclosure under Section 67(3) Of the Companies Act, 2013

During the year under review, there were no instances of non-exercising of voting rights in respect of shares purchased directly by employees under a scheme pursuant to Section 67 (3) of the Act read with Rule 16 (4) of Companies (Share Capital and Debentures) Rules, 2014 is furnished.

15. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

The Company has not provided any loans or made any investments or provided any guarantees and securities for the year under review under section 185 and 186 of the Companies Act, 2013.

16. MANAGEMENT DISCUSSION AND ANALYSIS:

The Management Discussion and Analysis Report on the operations of the Company is annexed hereto and marked as "Annexure - III" and forms part of this Report.

17. SECRETARIAL STANDARDS OF ICSI

Your Company is in compliance with the Secretarial Standards on Meetings of the Board of Directors (SS - 1) and General Meetings (SS - 2) issued by The Institute of Company Secretaries of India and approved by the Central Government.

18. AUDITORS

Statutory Auditors:

M/s. Doshi & Doshi Co., Chartered Accountants resigned as Statutory Auditors of the Company with effect from December 15, 2025, resulting in a casual vacancy under Section 139(8) of the Companies Act, 2013. The Board of Directors, on the recommendation of the Audit Committee, appointed M/s. Panchal S K & Associates, Chartered Accountants (FRN: 145989W) as Statutory Auditors to fill the said casual vacancy, and the Members approved their appointment with effect from February 23, 2026.

The Board further proposes to recommend the re-appointment of M/s. Panchal S K & Associates, Chartered Accountants (FRN: 145989W) as Statutory Auditors of the Company for a further term of five (5) consecutive years from FY 2026-27 to FY 2030-31, subject to the approval of the Members at the ensuing Annual General Meeting.

Details in Respect of frauds reported by the Auditors under Section 143(12) of Companies Act, 2013:

There are no frauds reported by the Auditor which are required to be disclosed under Section 143(12) of Companies Act, 2013.

Secretarial Auditor:

The Company has appointed CS Sonu Jain, Practicing Company Secretary, as a Secretarial Auditor of the Company, according to the provision of Section 204 of the Companies Act, 2013 read with Companies Rules for the purpose of conducting Secretarial Audit of Company for the financial year 2025-30. The Report of the Secretarial Audit is annexed herewith as "Annexure IV".

19. INTERNAL AUDIT AND INTERNAL CONTROL SYSTEMS:

The Company has an internal control system, commensurate with the size, scale and complexity of its operations. This ensures that all transactions are authorized, recorded and reported correctly, and assets are safeguarded and protected against loss from unauthorized use or disposition. The Company has adequate internal controls for its business processes across departments to ensure efficient operations, compliance with internal policies, applicable laws and regulations, protection of resources and assets and appropriate reporting of financial transactions.

The Company has Internal Audit function which is empowered to examine the adequacy and compliance with policies, plans and statutory requirements.

It comprises of experienced professionals who conduct regular audits across the Companys operations. The Company has also appointed a firm of Chartered Accountants as Internal Auditors, who reviews the various functions of the Company thoroughly and report to the Audit Committee.

20. PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prevention of Insider Trading pursuant to new SEBI (Prohibition & Insider Trading) Regulation 2015 in place of SEBI (Prohibition & Insider Trading) Regulation 1992 with a view to regulate trading in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the Companys shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the Trading Window is closed. The Board is responsible for implementation of the Code. All Directors and the designated employees have confirmed compliance with the Code.

21. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 134 (5) of the Companies Act, 2013, your Directors, to the best of their knowledge and belief and according to information and explanation obtained by them, confirm that:

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

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

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

(d) The Directors had prepared the annual accounts on a going concern basis; and

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

22. DISCLOSURE ABOUT DISQUALIFICATION:

None of the Directors of the Company are disqualified under Section 164 (2) of The Companies Act, 2013.

23. COST RECORDS

The company under sub-section (1) of section 148 of the Companies Act, 2013, is engaged in the production of the goods or providing services, as specified in "Regulated Sector" of the Act having an overall turnover from all its products and services of rupees thirty five crore or more during the immediately preceding financial year, includes cost records for such products or services in their books of accounts as required to maintain cost accounts and records.

24. DECLARATION UNDER INSOLVENCY AND BANKRUPTCY CODE

No application made nor any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year under review.

25 SEXUAL HARASSMENTS OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

Disclosure under Section 22 of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013:

Pursuant to Section 22 of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 the company has setup the Internal complaints committee and the said committee has framed the policy "Prevention of Sexual Harassment" on prevention, prohibition and Redressal of complaints related to sexual harassment of women at the workplace. All women employees whether permanent, temporary or contractual are covered under the above policy.

Disclosure of complaints during the year:

(a) Number complaints of sexual harassment received in the year: Nil

(b) Number of complaints disposed of during the year: Nil

(c) Number of cases pending for more than ninety days: Nil

However, during the year no complaints were received by the Internal Complaints committee for sexual harassment from any of the women employees of the company.

26. MATERNITY BENEFIT PROVIDED BY THE COMPANY UNDER MATERNITY BENEFIT ACT 1961:

The Company declares that it has duly complied with the provisions of the Maternity Benefit Act, 1961. All eligible women employees have been extended the statutory benefits prescribed under the Act, including paid maternity leave, continuity of salary and service during the leave period, and post-maternity support such as nursing breaks and flexible return-to-work options, as applicable. The Company remains committed to fostering an inclusive and supportive work environment that upholds the rights and welfare of its women employees in accordance with applicable laws.

27. DECLARATION REGARDING SETTLEMENT WITH BANKS/FINANCIAL INSTITUTIONS

The company has not made any settlement with banks or financial institutions in the year under review; therefore, no valuation was made.

ACKNOWLEDGEMENT:

The Board of Directors are grateful for the co-operation and support from the Bankers, clients and other business partners. The Board takes this opportunity to express their sincere appreciation for the excellent patronage, total commitment, dedicated efforts of the executives and employees of the Company at all levels.

Your directors would like to express their gratitude to the Members and are deeply grateful to them for reposing their confidence and faith in the Company.

The Directors wish to place on record their sincere appreciation of the valuable services rendered by the employees to the Company.

APPRECIATION

The Directors wish to convey their appreciation to all of the Companys employees for their enormous personal efforts as well as their collective contribution to the Companys performance. The Directors would also like to thank the shareholders, customers, dealers, suppliers, bankers, Government and all the other business associates for the continuous support given by them to the Company and their confidence in its management.

	By the Order of the Board of Directors
	VALENCIA INDIA LIMITED
	KEYUR J PATEL	DHAVALKUMAR KAUSHIKKUMAR CHOKSHI
Date: 03-09-2026	MANAGING DIRECTOR	Director
Place: Ahmedabad	DIN:00252431	DIN: 01697664