Directors Report of Eiko Lifesciences Ltd.

Mar 31, 2025

Your directors have pleasure in presenting the 48th Annual Report together with the Audited Standalone and Consolidated statement of accounts for
the year ended 31^st March 2025.

1. FINANCIAL SUMMARY

Particulars	Consolidated	Standalone
	2024-25	2024-25	2023-24
Revenue from operations	3,766.40	3,249.18	2792.93
Other Income	71.61	102.40	17.61
Total Income	3,838.01	3,351.58	2,810.54
Total Expenses	3,579.97	3,153.88	2,712.12
Profit/(Loss) Before Tax	306.49	231.82	98.42
Profit/(Loss) After Tax	231.86	174.08	75.15
Earnings per Share (Basic & Diluted)	1.62	1.34	0.73

Pursuant to IND AS 33, basic and diluted earnings per share for the previous periods have been restated for the bonus element in respect of right
issue made during the quarter and year ended 31-03-2025.

2. OPERATIONS:

Your Company specializes as a manufacturer, supplier, and exporter of specialty chemicals, fine chemicals, and pharma intermediates. Over the
past year, the company has pursued strategic expansion and diversification to strengthen its position across multiple sectors.

Key Strategic Developments

• Expansion into Logistics Through the subsidiary EikoVivify Logistics Private Limited

The company ventured into the business of acquiring, manufacturing, leasing, and renting, and managing a broad range of shipping
containers. These containers support logistics for storage and transport of various goods, marking a significant step in integrating logistics
solutions into the company''s portfolio.

• Foray into Clinical Research and Healthcare Innovation

The company has also diversified into clinical research, development, and innovation within the specialty chemicals, healthcare, and broader
medical fields. This initiative is being pursued through the wholly owned subsidiary, Eiko Scientific Solutions LLP, underscoring the company’s
commitment to driving advancements and value creation in these domains.

Financial Highlights

• Revenue from operations stood at ^3,249.18 Lakhs, marking a growth of 16.3% over the previous year’s ^2,792.93 Lakhs. This increase was
driven by better volume off-take in core specialty chemicals, expansion into new product categories, and initial contributions from the
logistics verticals.

• Profit after tax rose to ^174.08 Lakhs from ^75.15 Lakhs, nearly doubling on the back of higher operating leverage and streamlined expenses.
The PAT margin improved to 5.19%, up from 2.69% in the previous year.

3. DIVIDEND:

Your Board does not recommend any Final Dividend for the Financial Year 2024-25

4. CHANGES IN SHARE CAPITAL:

At the start of the financial year, the issued, subscribed, and paid-up Equity Share Capital of the Company stood at ^12,44,95,510 (Rupees Twelve
Crore Forty-Four Lakhs Ninety-Five Thousand Five Hundred and Ten only).

On 17^th December 2024, the Company issued a Final Reminder cum Forfeiture Notice for the payment of the First and Final Call on 14,10,894
partly paid-up rights equity shares. In response, the Company successfully received call money for 12,71,303 shares, and these shares were duly
allotted on 24^th January 2025. The Company subsequently received listing approval for the said 12,71,303 fully paid-up equity shares from BSE
on 28^th April 2025.

With regard to the balance 1,39,591 shares, for which call money was not received within the stipulated time, the Company has decided to forfeit
these shares. An application for approval of forfeiture has been submitted to BSE and received approval from BSE dated 28^th July, 2025.

5. TRANSFER OF UNPAID/ UNCLAIMED DIVIDEND:

The Company does not have any unpaid / unclaimed amount which is required to be transferred, under the provisions of the Companies Act,
2013 into the Investor Education and Protection Fund (‘IEPF’) of the Government of India.

There is no other statutory amount like outstanding unpaid Refund Amount on Share Applications, unpaid interests or principal of Deposits and
Debentures, etc. lying with the company which are required to be transferred to Investors Education and Protection Fund.

6. TRANSFER TO RESERVES:

The Board of Directors have not appropriated and transferred any amount to any reserve and the Board has decided to retain the entire amount in
the profit and loss account.

7. DEPOSITS:

During the year under review, your Company did not accept any deposits in terms of Section 73 of the Companies Act, 2013 (“the Act”) read with
the Companies (Acceptance of Deposit) Rules, 2014. No amounts were outstanding which were classified as Deposit under the applicable
provisions of the Companies Act, 2013 as on the Balance Sheet date.

8. LOANS FROM DIRECTORS

During the financial year under review, the Company has not borrowed any amount(s) from Directors and the respective director of the Company.

9. COMPLIANCE WITH THE LISTING AGREEMENT:

Company’s shares are listed on BSE Ltd. w.e.f. 13^th December 2016 and Company has complied with the mandatory provisions of Corporate
Governance as stipulated in the Listing Agreement with the Stock Exchange.

10. REPORT ON PERFORMANCE OF SUBSIDIARIES, ASSOCIATES AND JOINT VENTURE COMPANIES:

During the year under review, the Company has two Subsidiaries which are as follows:

Sr. No.	Name of Body Corporate	Identification No.	Relation
1	Eiko Scientific Solutions LLP	LLPIN: ACH-4311	Wholly Owned Subsidiary
2	EikoVivify Logistics Private Limited	CIN: U77308MH2024PTC434438	Subsidiary

Apart from above, there are no Holding /Subsidiary/Joint Venture/ Associate Company.

The Consolidated Financial Statements of the Company for the year ended March 31, 2025 are prepared in compliance with the applicable
provisions of the Companies Act, 2013, and as stipulated under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“Listing Regulations”). The audited Consolidated Financial Statements together with the Auditors’ Report thereon forms part
of the Annual Report.

Pursuant to Section 129(3) of the Companies Act, 2013, a Statement containing salient features of the Financial Statements of the Subsidiary
Companies in the prescribed Form AOC-1 is appended as Annexure - “A” to this report.

Pursuant to the provisions of Section 136 of the Companies Act, 2013, the Financial Statements of the Subsidiary Companies are kept for
inspection by the Members at the Registered Office of the Company.

The Company shall provide a copy of the Financial Statements of its Subsidiary Companies to the Members upon their request.

11. SIGNIFICANT OR MATERIAL ORDER PASSED BY REGULATORS/ COURTS:

During the year under review, there were no significant or material orders passed by the regulators or court or tribunals impacting the going
concern status and Company Operations in future.

12. REPORT ON CORPORATE GOVERNANCE:

As per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Corporate Governance Report with the Auditors’ Certificate
thereon are attached and form part of this Report.

13. MANAGEMENT DISCUSSION AND ANALYSIS:

Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Management Discussion and Analysis is attached
hereto and forms part of this Report.

14. RELATED PARTY TRANSACTION:

Your Company has historically adopted the practice of undertaking related party transactions only in the ordinary and normal course of business
and at arm’s length as part of its philosophy of adhering to highest ethical standards, transparency, and accountability. All related party
transactions that were entered with your Company, during the financial year were on arm’s length basis and were in the ordinary course of the
business. In terms of the Act, materially related party transactions entered into by your Company with its subsidiary and other related parties are
covered in Form AOC 2 attached as Annexure - “B” to this report.

As per the policy on Related Party Transactions as approved by the Board of Directors, your Company has entered into related party transactions
based upon the omnibus approval granted by the Audit Committee of your Company. On quarterly basis, the Audit Committee reviews such
transactions, for which such omnibus approval was given. The policy on Related Party Transactions was revised in view of amendments in
applicable rules.

The policy on Related Party Transactions as amended and approved by the Board of Directors, is accessible on your Company’s website at-
www.eikolifesciences.com

15. DISCLOSURE OF INFORMATION AS REQUIRED UNDER SECTION 134 (3)(M) OF THE COMPANIES ACT, 2013 (ACT) READ WITH THE COMPANIES
(ACCOUNTS) RULES, 2014:

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m)
of the Companies Act, 2013 read with Rule 8 of The Companies (Accounts) Rules,2014, is annexed hereto and marked as Annexure - “C”.

16. ANNUAL RETURN

Pursuant to Section 134(3)(a) of the Act read with Section 92(3) of the Act and Rule 12 of the Companies (Management and Administration) Rules,
2014, Annual Return is published on the Company’s website at www.eikolifesciences.com. The final Annual Return shall be uploaded in the same
web link after the said Return is filed with the Registrar of Companies, Mumbai within the statutory timelines.

17. AUDITORS & REPORTS:

a. Statutory Auditors:

Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014, M/s. P S V Jain &
Associates Chartered Accountants (FRN: 131505W) were appointed as Statutory Auditors of the Company for a period of five consecutive years,
commencing from the conclusion of 47th Annual General Meeting to be held in FY 2024-25 till the conclusion of 52^nd Annual General Meeting of
the company.

The Auditors have confirmed their availability within the meaning of provisions of Section 139 of the companies Act, 2013.

The Independent Auditors’ Report for the Financial Year ended March 31, 2025, on the Financial Statements of the Company and its subsidiaries
forms part of this Annual Report.

There are no qualifications or reservation or adverse remarks or disclaimers in the said report. The Auditors Report are self-explanatory and do
not call for any further comments.

Further, M/s. P S V Jain & Associates have also provided the Limited Review Report for the Quarter ended June 30, 2025.

b. Secretarial Audit:

Pursuant to the provisions of section 204 of the Act, read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014, M/s Shravan A. Gupta & Associates, Practicing Company Secretaries, were appointed as the Secretarial Auditor to undertake Secretarial
Audit of the Company for the FY 2024-25.

The Secretarial Audit Report for the FY 2024-25 as required under the Act read with Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 and Regulation 24A of the SEBI Listing Regulations, is set out in ‘Annexure - D’ to this Report.

The secretarial audit report for FY 2024-25 does not contain any qualification, reservation or adverse remark or disclaimer made by the secretarial
auditor.

In addition to the above and pursuant to SEBI circular dated 8^th February 2019 and as per Regulation 24A a report on Secretarial Compliance by
M/s Shravan A. Gupta & Associates for FY 2024-25 is being submitted to stock exchanges. There are no observations, reservations or
qualifications in the said report.

Further, Board in its meeting held on 29^th July 2025 on recommendation of Audit Committee approved appointment of M/s Shravan A. Gupta &
Associates as Secretarial Auditor for a period of Five Consecutive years, commencing starting from FY 2025-26 to. 2029-30, subject to Approval
of Members in ensuing General Meeting.

c. Cost Audit and Cost Records:

Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014, as
amended from time to time, the Company is not required to maintain Cost Records under said Rules.

d. Internal Auditors of the Company:

The Company has adopted an internal control system, commensurate with its size. The Company had appointed M/s N P Rajput & Co. chartered
accountant as the Internal Auditor of the Company for Financial Year 2024-25.

There are no adverse remarks by Internal Auditor in the report issued by them for the financial Year end 31^st March 2025.

e. Reporting by statutory auditors:

There were no incidents of reporting of frauds by Statutory Auditors of the Company under Section 143 (12) of the Act read with Companies
(Accounts) Rules, 2014.

f. Code for prevention of Insider Trading:

As per Securities and Exchange Board of India (Prohibition of Insider Trading Regulations), 2015, your Company has adopted an amended Code
of Conduct to regulate, monitor and report trading by Designated Persons and their Immediate Relatives under the Securities and Exchange Board
of India (Prohibition of Insider Trading) Regulations, 2015. This Code of Conduct also includes code of practices and procedures for fair disclosure
of unpublished price sensitive information and has been made available on the Company’s website.

18. UPDATION OF EMAIL IDS FOR RECEIVING NOTICES / DOCUMENTS IN ELECTRONIC MODE:

Shareholders who have not registered their email addresses with the depositories are requested to register their email addresses with the
Registrar and Share Transfer Agent (RTA) of the Company to enable the RTA to deliver notices /documents through e-mode. Shareholders holding
their shares in demat mode also have an option to register their email addresses with their depository, through their depository participant.

19. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company maintains adequate internal control systems, which provide, amongst other things, adequate support to all its operations and
effectively handle the demands of the Company’s financial management systems. The Company has in place effective systems safeguarding the
assets and interest of the Company and ensuring compliance with law and regulations. The Company’s internal control systems a re
supplemented by an extensive program of internal audit conducted by an external auditor to ensure adequate system of internal control.

20. DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the provisions of Section 134 (5) of Companies Act, 2013, as amended, with respect to the Directors’ Responsibility Statement, it is
hereby confirmed that:

a. In the preparation of the accounts for the financial year ended 31^st March 2025, the applicable Accounting Standards have been followed
along with proper explanation relating to material departures.

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 as of 31^st March 2025 and of the profit and loss of the
Company for the year ended 31^st March 2025.

c. The Directors have taken proper and enough care for the maintenance of adequate accounting records in accordance with the provisions of
the Companies 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 for the financial year ended 31^st March 2025 on a going concern basis.

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.

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

21. 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.

22. COMMITTEES OF BOARD OF DIRECTORS OF THE COMPANY:

Following are the Committees of Board of Directors of the Company. The Composition of the following Committees are hosted on the website of
the Company and details of the following committees has been mentioned in the Corporate Governance Report.

a. Audit Committee:

The Audit Committee of Directors was constituted as per Regulation 18 of SEBI (LODR) Regulation 2015. The composition of the Audit
Committee and its meetings during the Financial Year 2024-25 is in conformity with the provisions said above regulations.

The details of number of meetings held by the Audit committee in the year under review and other related details are given in the Corporate
Governance Report.

During the year under review, Board has accepted all the recommendation made by the committee

b. Nomination and Remuneration Committee:

The Nomination and Remuneration Committee was constituted pursuant to the provision of section 178 of the Act, 2013 and Regulation 19
of SEBI (LODR) Regulation, 2015

The terms of reference of the Committee, inter alia, includes formulation of criteria for determining qualifications, positive attributes and
independence of a director, recommendation of persons to be appointed to the Board and senior management, devising a Policy on Board
diversity, specifying the manner for effective evaluation of performance of Board, its Committees, Chairperson and individual directors,
recommendation of remuneration policy for directors, key managerial personnel and other employees, formulation of criteria for evaluation
of performance of independent directors and the Board, etc. The Committee also reviews the remuneration of the senior management team.
More details on the terms of reference of the Committee are placed on Company website www.eikolifesciences.com

c. Stakeholders Relationship Committee:

The Stakeholders Relationship Committee was constituted pursuant to the provisions of Section 178 of the Act, 2013 and Regulation 20 of
SEBI (LODR) Regulation, 2015.

d. Corporate Social Responsibility:

With the enactment of the Companies Act, 2013 and the Companies (Corporate Social Responsibility) Rules, 2014 read with various
clarifications issued by the Ministry of Corporate Affairs, every Company having the net worth of ^500 crores or more or turnover of ^1000
crores or more net profit of ^5 crores during any financial year have to spend at least 2% of the average net profit of the Company made during
the three immediately preceding financial years. Accordingly, the provision of CSR activities under Companies Act, 2013 do not apply to
company.

e. Rights Issue Committee

The Right issue committee was constituted pursuant to the provisions of SEBI Regulations.

23. BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT:

The Company was not in the Top 1,000 companies as per Market Capitalisation as on 31^st March 2025, at the Stock Exchange, where it is listed
namely - BSE Limited. Accordingly, the Company is not required to submit a Business Responsibility and Sustainability Report (which replaces
the earlier requirement of a Business Responsibility report) in view of Regulation 34 read with Regulation 3(2) of the SEBI (Listing Obligations and
Disclosures Requirements) Regulations, 2015

24. BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONS:

RETIREMENT BY ROTATION:

The Company in total has 6 directors as on 31^st March 2025-

• Five Non-executive Directors (including 3 Independent Directors)

• One Executive Director (Whole time Director)

As per the provisions of Act, at least two-thirds of the total number of directors (excluding independent directors & WTD) shall be liable to retire
by rotation. Amongst the said 2 directors, Mr. Laxmikant Kabra have been longest in office since his last appointment and his liable to retire by
rotation and being eligible, offer himself for re-appointment.

Your Directors recommend his approval in accordance with the provisions of the Act and the said Director is not disqualified from being re¬
appointed as a Director of a Company as per the disclosure received from him pursuant to Section 164 (2) of the Act.

Brief details of Mr. Laxmikant Kabra, Director, who is seeking re-appointment, are given in the notice of AGM.

CHANGES IN KMP

There has been no change in the Key Managerial Personnel (KMP) during the period of review.

CHANGE IN DESIGNATION OF DIRECTORS:

During the year under review, on completion of tenure as Independent Director, Mr. Mandar Patil Independent Director of the Company retired
from the Company and Ms. Hasti Doshi has been appointed as new Independent Director in 47^th AGM vide dated 28^th September 2024 for a period
of 5 years.

Further the Board in its meeting held on 29^th July, 2025 appointed Mr. Sumukh Prabhakar Vartak (DIN: 10977198) as additional Whole Time
Director for a term of 5 years commencing from 29^th July, 2025 till 28^th July, 2030 subject to the approval of shareholders in the 48^th AGM of the
Company.

Mr. Umesh More tendered his resignation to act as Whole Time Director of the company on 29^th July, 2025. Therefore, the Board in its

25. MATTERS RELATED TO DIRECTORS:

a. Independent Directors’ Declaration:

The independent Directors have submitted a declaration of independence, stating that they meet the criteria of independence as stipulated
under the Act, as amended, and SEBI Listing Regulations. The independent directors have also confirmed compliance with the provisions of
rule 6 of Companies (Appointment and Qualifications of Directors) Rules, 2014, as amended, relating to inclusion of their name in the
databank of independent directors.

Pursuant to the Companies (Appointment and Qualification of Directors) Rules, 2014, the Independent Directors are registered with MCA
Independent Director’s Databank.

The Board took on record the declaration and confirmation submitted by the independent directors regarding them meeting the prescribed
criteria of independence, after undertaking due assessment of the veracity of the same in terms of the requirements of the SEBI Listing
Regulations.

b. Board Evaluation:

In a separate meeting of Independent Directors, performance of non-independent directors, performance of the Board as a whole and
performance of the Chairman was evaluated, taking into account the views of executive director. The same was discussed in the Board
meeting held subsequently to the meeting of the independent directors, at which Board of Directors carried out an annual evaluation of its
own performance, board committee and individual directors pursuant to the provisions of the Act and the Corporate Governance
requirements as prescribed by Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The performance of committee was evaluated by the board after seeking inputs from all the directors on the basis of the criteria such as the
board composition and structure, effectiveness of board processes, information and functioning etc.

The Board subsequently evaluated its own performance, the working of its Committees (Audit, Nomination and Remuneration and
Stakeholders Relationship Committee) and independent Directors (without participation of the relevant Director).

c. Remuneration Policy:

The Board of Directors has on recommendation of the Nomination & Remuneration Committee framed policy for selection and appointment
of Directors and their remuneration which is stated in the Corporate Governance Report.

d. Number Of Board Meetings:

The Board met 6 (Six) times during the financial year ended 31^st March 2025 in accordance with the provisions of the Act, the details of which
are given in the Corporate Governance Report.

e. Independent Directors’ Meeting

A separate meeting of the Independent Directors without the presence of the Chairman, the Managing Director or other Non-Independent
Director(s) or any other Management Personnel was held on Wednesday, 12^th February,2025.

The Independent Directors reviewed the performance of Non-Independent Directors, Committees of the Board and the Board as a whole
along with the performance of the Chairman of the Company and assessed the quality, quantity and timeliness of flow of information between
the management and the Board that is necessary for the Board to effectively and reasonably perform their duties.

f. Familiarization Program for Independent Director

All Independent Directors are familiar with the operations and functioning of the Company at the time of their appointment and on an ongoing
basis. The details of the training and familiarization program are provided in the Corporate Governance Report and is also available website
of the Company at: https://www.eikolifesciences.com/policies .

26. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS BY THE COMPANY:

Pursuant to the provisions of Section 186 of the Act read with The Companies (Meetings of Board and its Powers) Rules, 2014, Loans, guarantees
and investments has been furnished in the Notes to Audited financial statement which forms part of the financials of the Company.

27. PARTICULARS OF THE EMPLOYEES:

Pursuant to Section 197(12) of the Companies Act, 2013 and Rule 5(1) of the Companies (Appointment and Remunerations of Managerial
Personnel) Rules, 2014, the relevant details for financial year 2024-25 are annexed as Annexure “E” to this Report.

It is hereby affirmed that the remuneration paid is as per the Remuneration Policy of your Company. Further, as per Sec 197 (12) of Companies
Act, 2013 read with Rule 5 (2) and Rule 5 (3) of the aforesaid Rules, the Statement containing names and details of the top ten employees in terms
of remuneration drawn during the financial year 2024-25 forms part of this report. This Report is sent to the members excluding the aforesaid
Statement. This Statement is open for inspection at the Registered Office of the Company during working hours, and any member interested in
obtaining such particulars may write to the Company Secretary at the Registered Office of the Company.

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

Provisions of the sexual harassment of women at workplace (Prevention, Prohibition & Redressal) Act, 2013 does not apply to your company as
number of female employees in the company are below 10 and no Committee were formed.

There were no cases/complaints filed during the year, under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013 (“Act”).

During the Financial Year 2024-25
Number of complaints received	0
Number of complaints disposed of	Not Applicable
Number of cases pending for more than 90 days	Not Applicable

29. COMPLIANCE WITH MATERNITY BENEFIT ACT, 1961

The Company has complied with the applicable provisions of the Maternity Benefit Act, 1961. All eligible women employees have been extended
the benefits as prescribed under the Act. The Company remains committed to supporting working mothers and promoting a gender-
inclusive workplace.

30. ESTABLISHMENT OF VIGIL MECHANISM:

Pursuant to the provisions of Section 177 (9) of the Act read with Rule 7 of the Companies (Meetings of Board and its Powers) Rules, 2014, and
Regulation 22 of SEBI (LODR) Regulations 2015, the Company already has in place “Vigil Mechanism Policy” (Whistle Blower Policy) for Directors
and employees of the Company to provide a mechanism which ensures adequate safeguards to employees and Directors from any financial
statements and reports, etc.

The employees of the Company have the right/option to report their concern/grievance to the Chairman of the Audit Committee. The Company is
committed to adhere to the highest standards of ethical, moral and legal conduct of business operations. The details of the same are mentioned
in the Corporate Governance Report.

The policy has been hosted on the Company’s website - www.eikolifesciences.com

31. LEGAL AND REGULATORY:

Compliance with laws and regulations is an essential part of your Company’s business operations. We are subject to laws and regulations in
diverse areas as product safety, product claims, trademarks, copyright, patents, competition, employee health and safety, the environment,
corporate governance, listing and disclosure, employment, and taxes.

Frequent changes in legal and regulatory regime and introduction of newer regulations with multiple authorities regulating same areas lead to
complexity in compliance. We closely monitor and review our practices to ensure that we remain compliant with relevant laws and legal
obligations.

32. SYSTEM AND INFORMATION:

Your Company’s operations are increasingly dependent on IT systems and the management of information. Increasing digital interactions with
customers, suppliers and consumers place even greater emphasis on the need for secure and reliable IT systems and infrastructure, and careful
management of the information that is in our possession.

The cyber-attack threat of un-authorised access and misuse of sensitive information or disruption to operations continues to increase. To reduce
the impact of external cyber-attacks impacting our business we have firewalls and threat monitoring systems in place, complete with immediate
response capabilities to mitigate identified threats. Our employees are trained to understand these requirements.

33. GENERAL DISCLOSURES:

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

a. 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.

b. 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.

c. 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.

d. 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.

e. The Company received a Public Announcement regarding Open Offer being made by M/s Lenus Finvest Private Limited, the Promoter,
“Corporate Acquirer 1”, along with the Individual Promoters, namely being, Mr. Siddhant Laxmikant Kabra, “Acquirer 2”, Mr. Laxmikant
Ramprasad Kabra, “Acquirer 3”, Mr. Bhavesh Dhirajlal Tanna, “Acquirer 4”, and M/s Laxmikant Kabra HUF, “Acquirer 5”. Open offer started
on 09^th October, 2024 and was completed on 22^nd October, 2024. Pursuant to the said open offer 9,52,385 representing 6.87% shares of the
company were acquired of the company through open market.

f. On 24^th January 2025, company converted 12,71,303 partly paid rights shares to fully paid shares pursuant to Final reminder cum forfeiture
call. BSE gave Listing and Trading approval of 12,71,303 shares on 28th April, 2025 and 06^th May, 2025 respectively, resulting in the Listed
capital to be 1,37,20,854 shares Since the shareholders did not pay the call money on 1,39,591, shares, these shares are to be forfeited
Accordingly your company has filed forfeiture application with the BSE and received approval from BSE dated 28th July, 2025

34. CAUTIONARY STATEMENT:

Statements in the Board’s Report and the Management Discussion & Analysis describing the Company’s 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 Company’s 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.

35. OTHER STATUTORY DISCLOSURES:

• There has been no change in business of the Company.

• There was no instance of onetime settlement with any Bank or Financial Institution.

• During the year under review, there were no proceeding made nor were any pending under the Insolvency and Bankruptcy Code, 2016

36. SHARE TRANSFER SYSTEM:

Share transfers and related operations for the Company are processed by the Company’s RTA viz., Bigshare Services Private Limited, share
transfer is normally affected within the maximum period of 15 days from the date of receipt, if all the required documentation is submitted.

Securities and Exchange Board of India (SEBI) vide its notification dated June 8, 2018, has notified Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2018 (Listing Regulations) and SEBI (Registrars to an Issue and
Share Transfer Agents) (Amendment) Regulations 2018 (RTA Regulations) and amendment to Regulation 40 of the Listing Regulations and Clause
5(c) of Schedule III of the RTA Regulations. These amendments have mandated that the transfer of securities would be carried out only in
dematerialized form.

Accordingly, attention of all the shareholders holding shares in physical form is brought to the following:

Request for effecting transfer of securities shall not be processed by the Company or Bigshare Services Private Limited, Registrar and Share
Transfer Agents (RTA) of the Company, unless the securities are held in dematerialized form with effect from 01 April 2020. Subject to SEBI Circular
SEBI circular SEBI/HO/MIRSD/MIRS-PoD/P/CIR/2025/97dated July 02, 2025 issued for re-lodgement of share and its request.

37. RISK MANAGEMENT:

The Board of Directors of the Company has not designed any Risk Management Policy. However, the Company has in place mechanism to identify,
assess, monitor and mitigate various risks to key business objectives. Major risks identified are systematically addressed through mitigating
actions on a continuing basis.

38. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED
BETWEEN THE END OF THE F.Y. OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:

There have been 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 to which the financial statements relate and date of this Report.

39. ISIN NO:

The Company’s Demat International Security Identification Number (ISIN) for its equity shares in NSDL and CDSL is INE666Q01016.
ACKNOWLEDGEMENT:

Your directors would like to express their deep appreciation to employees at all levels for their hard work, dedication, and commitment.

The Board also places on record its appreciation and gratitude for the continued cooperation and support received by your Company during the year
from shareholders, investors, bankers, financial institutions, customers, business partners, all regulatory and government authorities, and other
stakeholders.

By order of the board Registered Office

For Eiko LifeSciences Limited 604, Centrum IT Park,

S G Barve Road, Near Mulund Check Naka
Sd/- Wagle Estate, Thane West 400 604

Laxmikant Kabra Phone: 022 - 2539 0009

Chairman Emai: [email protected]

Website: www.eikolifesciences.com

---

Mar 31, 2024

Your directors have pleasure in presenting the 47th Annual Report together with the audited statement of accounts for the year ended 31^st March 2024.

1. FINANCIAL RESULTS

R in Lakhs)

Particulars	Audited
	2023-24	2022-23
Profit before Interest, Depreciation and Tax	178.88	180.93
Finance Cost	14.21	15.03
Depreciation and Amortization	66.25	63.28
Profit/(Loss) Before Tax	98.42	102.62
Provision for taxation	23.27	25.74
Profit/(Loss) After Tax	75.15	76.88
Other Comprehensive Income	-	2.40
Total Comprehensive Profit for year	75.15	79.28
Earnings per Share (Basic & Diluted)	0.73	0.79*

* Pursuant to IND AS 33, basic and diluted earnings per share for the previous periods have been restated for the bonus element in respect of right issue made during the quarter and year ended 31 -03-2024.

2. OPERATIONS:

The total revenue of the Company for the financial year ended 31 st March 2024 has been ^ 28,10,53,743/-

The EBIDTA from normal operation for financial year 2023-24 was ^1,78,88,250/- as compared to ^1,80,93,040/- in the previous year. Total Comprehensive Profit for the year ended 31^st March 2024 is ^75,14,822 /- as against ^79,27,810/- for the previous year.

It is important to note that the decrease in margins compared to previous years is primarily due to exceptional expenses incurred in connection with the rights issue.

3. DIVIDEND:

The Board has decided not to declare any dividend for the financial year under review, considering business expansion in the field of Speciality and fine Chemical in the near future, the Company shall retain earnings for funding further growth.

4. CHANGES IN SHARE CAPITAL:

At the beginning of the financial year, the issued, subscribed and paid-up Equity Share Capital of the Company was ^8,31,62,670/- (Rupees Eight Crore

Thirty-One Lakh Sixty-Two Thousand Six Hundred and Seventy only).

Further The Company has issued 55,44,178 equity shares on partly paid-up right issue shares basis. During the year company has converted 41,33,284 partly paid-up shares into fully paid-up shares.

The issued, subscribed and paid-up (Fully paid-up) Equity Share Capital of the Company was ^12,44,95,510/- (Rupees Twelve crore forty-four lakhs ninety-five thousand five hundred and ten).

5. TRANSFER OF UNPAID/ UNCLAIMED DIVIDEND:

The Company does not have any unpaid / unclaimed amount which is required to be transferred, under the provisions of the Companies Act, 2013 into the Investor Education and Protection Fund (‘IEPF’) of the Government of India.

There is no other statutory amount like outstanding unpaid Refund Amount on Share Applications, unpaid interests or principal of Deposits and Debentures, etc. lying with the company which are required to be transferred to Investors Education and Protection Fund.

6. TRANSFER TO RESERVES:

The Board of Directors have not appropriated and transferred any amount to any reserve and the Board has decided to retain the entire amount in the profit and loss account.

7. DEPOSITS:

During the year under review, your Company did not accept any deposits in terms of Section 73 of the Companies Act, 2013 (“the Act”) read with the Companies (Acceptance of Deposit) Rules, 2014. No amounts were outstanding which were classified as Deposit under the applicable provisions of the Companies Act, 2013 as on the Balance Sheet date.

8. LOANS FROM DIRECTORS

During the financial year under review, the Company has not borrowed any amount(s) from Directors and the respective director of the Company.

9. COMPLIANCE WITH THE LISTING AGREEMENT:

Company’s shares are listed on BSE Ltd. w.e.f. 13^th December 2016 and Company has complied with the mandatory provisions of Corporate Governance as stipulated in the Listing Agreement with the Stock Exchange.

10. REPORT ON PERFORMANCE OF SUBSIDIARIES, ASSOCIATES AND JOINT VENTURE COMPANIES:

During the year under review, your Company did not have any subsidiary, associate, and joint venture.

The Company vide its BSE Corporate announcement dated 19^th April 2024, has completed acquisition of 25.01% stake in the equity share capital of Reflux Pharmaceuticals Private Limited ("RPPL"). As a result of this acquisition, RPPL has become an associate company of our Company.

11. SIGNIFICANT OR MATERIAL ORDER PASSED BY REGULATORS/ COURTS:

During the year under review, there were no significant or material orders passed by the regulators or court or tribunals impacting the going concern status and Company Operations in future.

12. REPORT ON CORPORATE GOVERNANCE:

As per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Corporate Governance Report with the Auditors’ Certificate thereon are attached and form part of this Report.

13. MANAGEMENT DISCUSSION AND ANALYSIS:

Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Management

Discussion and Analysis is attached hereto and forms part of this Report.

14. RELATED PARTY TRANSACTION:

Your Company has historically adopted the practice of undertaking related party transactions only in the ordinary and normal course of business and at arm’s length as part of its philosophy of adhering to highest ethical standards, transparency, and accountability. All related party transactions that were entered with your Company, during the financial year were on arm’s length basis and were in the ordinary course of the business. In terms of the Act, there were no materially significant related party transactions entered into by your Company with its Promoters, Directors and Key Managerial Personnel, or other designated persons, which may have a potential conflict with the interest of your Company at large, except as stated in the Financial Statements. Hence, the disclosure of related party transactions as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC 2 is not applicable to your Company.

As per the policy on Related Party Transactions as approved by the Board of Directors, your Company has entered into related party transactions based upon the omnibus approval granted by the Audit Committee of your Company. On quarterly basis, the Audit Committee reviews such transactions, for which such omnibus approval was given. The policy on Related Party Transactions was revised in view of amendments in applicable rules.

The policy on Related Party Transactions as amended and approved by the Board of Directors, is accessible on your Company’s website at-www.eikolifesciences.com

15. DISCLOSURE OF INFORMATION AS REQUIRED UNDER SECTION 134 (3)(M) OF THE COMPANIES ACT, 2013 (ACT) READ WITH THE COMPANIES (ACCOUNTS) RULES, 2014:

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of The Companies (Accounts) Rules,2014, is annexed hereto and marked as Annexure - "A".

16. ANNUAL RETURN

Pursuant to Section 134(3)(a) of the Act read with Section 92(3) of the Act and Rule 12 of the Companies (Management and Administration) Rules, 2014, Annual Return is published on the Company’s website at www.eikolifesciences.com. The final Annual Return shall be uploaded in the same web link after the said Return is filed with the Registrar of Companies, Mumbai within the statutory timelines.

17. AUDITORS & REPORTS:

a. Statutory Auditors:

Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014, M/s. Thanawala & Co, Chartered Accountants (FRN:110948W) were appointed as Statutory Auditors of the Company From 28^th September, 2021 till the conclusion of the Annual General Meeting of the Company to be held in year 2026 for the period of 5 (five) years. The Auditors of the company have shown their unwillingness to continue as Auditors of the company due to preoccupation in other assignment and have given their resignation. The Auditor also confirmed there is no other material reason for their resignation.

M/s P S V Jain & Associates (FRN:131505W), Chartered Accountants have expressed their willingness and eligibility under the provision of the Companies Act, 2013 to act as Statutory Auditors of the company. The Board of Directors has proposed the appointment of M/s P S V Jain & Associates as the statutory Auditor of the company, subject to Shareholder Approval, pursuant to section 139 of the Companies Act, 2013 to examine and audit the accounts of the Company, on such remuneration as may be mutually agreed upon between the Board of Directors of the Company.

M/s. Thanawala & Co, Statutory Auditors of the Company has audited Books of Accounts of the Company for the Financial Year ended 31^st March, 2024 and Auditors’ Report thereon. They have also issued the report on financial results for quarter ended on 30^th June 2024 along with limited review report. Further as per SEBI circular they will issue report with Limited Review Report for current quarter.

The observations made by the Statutory Auditors in their report for the financial year ended 31^st March 2024 read with the explanatory notes there in are self- explanatory and therefore, do not call for any further explanation or comments from the Board under Section 134(3) of the Companies Act, 2013.

b. Secretarial Audit:

Pursuant to the provisions of section 204 of the Act, read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, M/s Shravan A. Gupta & Associates, Practicing Company Secretaries, were appointed as the Secretarial Auditor to undertake Secretarial Audit of the Company for the FY 2023-24.

The Secretarial Audit Report for the FY 2023-24 as required under the Act read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regulation 24A of the SEBI

Listing Regulations, is set out in ‘Annexure - B’ to this Report.

The secretarial audit report for FY 2023-24 does not contain any qualification, reservation or adverse remark or disclaimer made by the secretarial auditor.

In addition to the above and pursuant to SEBI circular dated 8^th February 2019, a report on secretarial compliance by M/s Shravan A. Gupta & Associates for FY 2023-24 is being submitted to stock exchanges. There are no observations, reservations or qualifications in the said report.

c. Cost Audit and Cost Records:

Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014, as amended from time to time, the Company is not required to maintain Cost Records under said Rules.

d. Internal Auditors of the Company:

The Company has adopted an internal control system, commensurate with its size. The Company had appointed M/s N P Rajput & Co. chartered accountant as the Internal Auditor of the Company for Financial Year 2023-24.

There are no adverse remarks by Internal Auditor in the report issued by them for the financial Year end 31^st March 2024.

e. Reporting by statutory auditors:

There were no incidences of reporting of frauds by Statutory Auditors of the Company under Section 143 (12) of the Act read with Companies (Accounts) Rules, 2014.

f. Code for prevention of Insider Trading:

As per Securities and Exchange Board of India (Prohibition of Insider Trading Regulations), 2015, your Company has adopted an amended Code of Conduct to regulate, monitor and report trading by Designated Persons and their Immediate Relatives under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. This Code of Conduct also includes code of practices and procedures for fair disclosure of unpublished price sensitive information and has been made available on the Company’s website.

18. UPDATION OF EMAIL IDS FOR RECEIVING NOTICES / DOCUMENTS IN ELECTRONIC MODE:

Shareholders who have not registered their email addresses with the Company are requested to register their email addresses with the Company to enable the Company to deliver notices /documents through e-

mode. Shareholders holding their shares in demat mode also have an option to register their email addresses with their depository, through their depository participant.

19. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company maintains adequate internal control systems, which provide, amongst other things, adequate support to all its operations and effectively handle the demands of the Company’s financial management systems. The Company has in place effective systems safeguarding the assets and interest of the Company and ensuring compliance with law and regulations. The Company’s internal control systems are supplemented by an extensive program of internal audit conducted by an external auditor to ensure adequate system of internal control.

20. DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the provisions of Section 134 (5) of Companies Act, 2013, as amended, with respect to the Directors’ Responsibility Statement, it is hereby confirmed that:

i. In the preparation of the accounts for the financial year ended 31^st March 2024, the applicable Accounting Standards have been followed along with proper explanation relating to material departures.

ii. 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 as of 31^st March 2024 and of the profit and loss of the Company for the year ended 31^st March 2024.

iii. The Directors have taken proper and enough care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. The Directors have prepared the annual accounts for the financial year ended 31^st March 2024 on a going concern basis.

v. 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.

vi. The Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

21. 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.

22. COMMITTEES OF BOARD OF DIRECTORS OF THE COMPANY:

Following are the Committees of Board of Directors of the Company. The Composition of the following Committees are hosted on the website of the Company and details of the following committees has been mentioned in the Corporate Governance Report.

i. Audit Committee:

The Audit Committee of Directors was constituted as per Regulation 17 of SEBI (LODR) Regulation 2015. The composition of the Audit Committee and its meetings during the Financial Year 2023-24 is in conformity with the provisions said above regulations.

The details of number of meetings held by the Audit committee in the year under review and other related details are given in the Corporate Governance Report.

During the year under review, Board has accepted all the recommendation made by the committee

ii. Nomination and Remuneration Committee:

The Nomination and Remuneration Committee was constituted pursuant to the provision of section 178 of the Act, 2013 and Regulation 19 of SEBI (LODR) Regulation, 2015

The terms of reference of the Committee, inter alia, includes formulation of criteria for determining qualifications, positive attributes and independence of a director, recommendation of persons to be appointed to the Board and senior management, devising a Policy on Board diversity, specifying the manner for effective evaluation of performance of Board, its Committees, Chairperson and individual directors, recommendation of remuneration policy for directors, key managerial personnel and other employees, formulation of criteria for evaluation of performance of independent directors and the Board, etc. The Committee also reviews the remuneration of the senior management team. More details on the terms of reference of the Committee are placed on Company website

www.eikolifesciences.com

iii. Stakeholders Relationship Committee:

The Stakeholders Relationship Committee was constituted pursuant to the provisions of Section 178 of the Act, 2013 and Regulation 20 of SEBI (LODR) Regulation, 2015.

iv. Corporate Social Responsibility:

With the enactment of the Companies Act, 2013 and the Companies (Corporate Social Responsibility) Rules, 2014 read with various clarifications issued by the Ministry of Corporate Affairs, every Company having the net worth of ^500 crores or more or turnover of ^1000 crores or more net profit of ?5 crores during any financial year have to spend at least 2% of the average net profit of the Company made during the three immediately preceding financial years. Accordingly, the provision of CSR activities under Companies Act, 2013 do not apply to company.

v. Rights Issue Committee

The Right issue committee was constituted pursuant to the provisions of SEBI Regulations.

23. BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT:

The Company was not in the Top 1,000 companies as per Market Capitalisation as on 31^st March, 2024, at the Stock Exchange, where it is listed namely - BSE Limited. Accordingly, the Company is not required to submit a Business Responsibility and Sustainability Report (which replaces the earlier requirement of a Business Responsibility report) in view of Regulation 34 read with Regulation 3(2) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015

24. BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONS:

RETIREMENT BY ROTATION:

The Company in total has 6 directors -

• Five Non-executive Directors (including 3 Independent Directors)

• One Executive Director (Whole time Director)

As per the provisions of Act, at least two-thirds of the total number of directors (excluding independent directors & WTD) shall be liable to retire by rotation. Amongst the said 2 directors, Mr. Bhavesh Tanna have been longest in office since his last appointment and his liable to retire by rotation and being eligible, offer himself for re-appointment.

Your Directors recommend his approval in accordance with the provisions of the Act and the said Director is not disqualified from being re-appointed as a Director of a Company as per the disclosure received from him pursuant to Section 164 (2) of the Act.

Brief details of Mr. Bhavesh Tanna, Director, who is seeking re-appointment, are given in the notice of AGM.

CHANGES IN KMP

There had been following changes in the Key Managerial Personnel (KMP);

Mr. Avi Vijaykumar Mundecha has tendered his resignation from the post of Company Secretary and Compliance Officer as on 18^th May 2023. Further, Ms. Nilima Burghate was appointed as a Company Secretary and Compliance Officer on 12^th August 2023. However, she resigned from her position due to medical issue on 29^th August 2023. Then Mr. Chintan Doshi was appointed as the Company Secretary and Compliance Officer on 8^th November 2023.

CHANGE IN DESIGNATION OF DIRECTORS:

During the year under review, there was no change in designation of the directors

25. MATTERS RELATED TO DIRECTORS:

i. Independent Directors’ Declaration:

The independent Directors have submitted a declaration of independence, stating that they meet the criteria of independence as stipulated under the Act, as amended, and SEBI Listing Regulations. The independent directors have also confirmed compliance with the provisions of rule 6 of Companies (Appointment and Qualifications of Directors) Rules, 2014, as amended, relating to inclusion of their name in the databank of independent directors.

Pursuant to the Companies (Appointment and Qualification of Directors) Rules, 2014, the Independent Directors are registered with MCA Independent Director’s Databank.

The Board took on record the declaration and confirmation submitted by the independent directors regarding them meeting the prescribed criteria of independence, after undertaking due assessment of the veracity of the same in terms of the requirements of the SEBI Listing Regulations.

ii. Board Evaluation:

In a separate meeting of Independent Directors, performance of non-independent directors, performance of the Board as a whole and performance of the Chairman was evaluated, taking into account the views of executive director. The same was discussed in the Board meeting held subsequently to the meeting of the independent directors, at which Board of Directors carried out an annual evaluation of its own performance, board committee and individual directors pursuant to the provisions of the Act and the Corporate Governance requirements as prescribed by Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The performance of committee was evaluated by the board after seeking inputs from all the directors on the basis of the criteria

such as the board composition and structure, effectiveness of board processes, information and functioning etc.

The Board subsequently evaluated its own performance, the working of its Committees (Audit, Nomination and Remuneration and Stakeholders Relationship Committee) and independent Directors (without participation of the relevant Director).

iii. Remuneration Policy:

The Board of Directors has on recommendation of the Nomination & Remuneration Committee framed policy for selection and appointment of Directors and their remuneration which is stated in the Corporate Governance Report.

iv. Number Of Board Meetings:

The Board met 7 (Seven) times during the financial year ended 31^st March 2024 in accordance with the provisions of the Act, the details of which are given in the Corporate Governance Report.

v. Independent Directors Meeting

A separate meeting of the Independent Directors without the presence of the Chairman, the Managing Director or other Non-Independent Director(s) or any other Management Personnel was held on Thursday, 08^th February,2024.

The Independent Directors reviewed the performance of Non-Independent Directors, Committees of the Board and the Board as a whole along with the performance of the Chairman of the Company and assessed the quality, quantity and timeliness of flow of information between the management and the Board that is necessary for the Board to effectively and reasonably perform their duties.

vi. Familiarization Program for Independent Director

All Independent Directors are familiar with the operations and functioning of the Company at the time of their appointment and on an ongoing basis. The details of the training and familiarization program are provided in the Corporate Governance Report and is also available website of the Company at: https://www.eikolifesciences.com/policies .

26. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS BY THE COMPANY:

Pursuant to the provisions of Section 186 of the Act read with The Companies (Meetings of Board and its Powers) Rules, 2014, Loans, guarantees and investments has been furnished in the Notes No. 4 & 5 to Audited financial statement which forms part of the financials of the Company.

27. PARTICULARS OF THE EMPLOYEES:

Pursuant to Section 197(12) of the Companies Act, 2013 and Rule 5(1) of the Companies (Appointment and Remunerations of Managerial Personnel) Rules, 2014, the relevant details for financial year 2023-24 are annexed as Annexure “C" to this Report.

It is hereby affirmed that the remuneration paid is as per the Remuneration Policy of your Company. Further, as per Sec 197 (12) of Companies Act, 2013 read with Rule 5 (2) and Rule 5 (3) of the aforesaid Rules, the Statement containing names and details of the top ten employees in terms of remuneration drawn during the financial year 2023-24 forms part of this report. This Report is sent to the members excluding the aforesaid Statement. This Statement is open for inspection at the Registered Office of the Company during working hours, and any member interested in obtaining such particulars may write to the Company Secretary at the Registered Office of the Company.

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

Your Company strongly believes in providing a safe and harassment free workplace for each and every individual working for the Company through various interventions and practices. It is the continuous endeavour of the Management of the Company to create and provide an environment to all its employees that is free from discrimination and harassment including sexual harassment. The Company 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 thereunder. The Company arranged various interactive awareness workshops in this regard for the employees in the Corporate Office during the financial year.

Following is a summary of sexual harassment complaints received and disposed of during the year:

• No. of complaints received: Nil

• No. of complaints disposed: Nil

• No. of complaints pending: Nil

29. ESTABLISHMENT OF VIGIL MECHANISM:

Pursuant to the provisions of Section 177 (9) of the Act read with Rule 7 of the Companies (Meetings of Board and its Powers) Rules, 2014, and Regulation 22 of SEBI (LODR) Regulations 2015, the Company already has in place “Vigil Mechanism Policy" (Whistle Blower Policy) for Directors and employees of the Company to provide a mechanism which ensures adequate safeguards to

employees and Directors from any financial statements and reports, etc.

The employees of the Company have the right/option to report their concern/grievance to the Chairman of the Audit Committee. The Company is committed to adhere to the highest standards of ethical, moral and legal conduct of business operations. The details of the same are mentioned in the Corporate Governance Report.

The policy has been hosted on the Company’s website -www.eikolifesciences.com

30. LEGAL AND REGULATORY:

Compliance with laws and regulations is an essential part of your Company’s business operations. We are subject to laws and regulations in diverse areas as product safety, product claims, trademarks, copyright, patents, competition, employee health and safety, the environment, corporate governance, listing and disclosure, employment, and taxes.

Frequent changes in legal and regulatory regime and introduction of newer regulations with multiple authorities regulating same areas lead to complexity in compliance. We closely monitor and review our practices to ensure that we remain complaint with relevant laws and legal obligations.

31. SYSTEM AND INFORMATION:

Your Company’s operations are increasingly dependent on IT systems and the management of information. Increasing digital interactions with customers, suppliers and consumers place even greater emphasis on the need for secure and reliable IT systems and infrastructure, and careful management of the information that is in our possession.

The cyber-attack threat of un-authorised access and misuse of sensitive information or disruption to operations continues to increase. To reduce the impact of external cyber-attacks impacting our business we have firewalls and threat monitoring systems in place, complete with immediate response capabilities to mitigate identified threats. Our employees are trained to understand these requirements.

32. GENERAL DISCLOSURES:

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

a. 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.

b. 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.

c. 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.

d. 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.

33. CAUTIONARY STATEMENT:

Statements in the Board’s Report and the Management Discussion & Analysis describing the Company’s objectives, expectations or forecasts may be forwardlooking 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 Company’s 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.

34. OTHER STATUTORY DISCLOSURES:

• There has been no change in business of the Company.

• There was no instance of onetime settlement with any Bank or Financial Institution.

• During the year under review, there were no proceeding made nor were any pending under the Insolvency and Bankruptcy Code, 2016

35. SHARE TRANSFER SYSTEM:

Share transfers and related operations for the Company are processed by the Company’s RTA viz., Bigshare Services Private Limited, share transfer is normally affected within the maximum period of 15 days from the date of receipt, if all the required documentation is submitted.

Securities and Exchange Board of India (SEBI) vide its notification dated June 8, 2018, has notified Securities and Exchange Board of India (Listing Obligations and

Disclosure Requirements) (Fourth Amendment) Regulations, 2018 (Listing Regulations) and SEBI (Registrars to an Issue and Share Transfer Agents) (Amendment) Regulations 2018 (RTA Regulations) and amendment to Regulation 40 of the Listing Regulations and Clause 5(c) of Schedule III of the RTA Regulations. These amendments have mandated that the transfer of securities would be carried out only in dematerialized form.

Accordingly, attention of all the shareholders holding shares in physical form is brought to the following:

• Request for effecting transfer of securities shall not be processed by the Company or Bigshare Services Private Limited, Registrar and Share Transfer Agents (RTA) of the Company, unless the securities are held in dematerialized form with effect from 01 April 2020.

36. RISK MANAGEMENT:

The Board of Directors of the Company has not designed any Risk Management Policy. However, the Company has in place mechanism to identify, assess, monitor and mitigate various risks to key business objectives. Major risks identified are systematically addressed through mitigating actions on a continuing basis.

MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE F.Y. OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:

The Company received a Public Announcement regarding Open Offer being made by M/s Lenus Finvest Private Limited, the Promoter, “Corporate Acquirer 1”, along with the Individual Promoters, namely being, Mr. Siddhant Laxmikant Kabra, “Acquirer 2”, Mr. Laxmikant Ramprasad Kabra, “Acquirer 3”, Mr. Bhavesh Dhirajlal Tanna, “Acquirer 4”, and M/s Laxmikant Kabra HUF, “Acquirer 5”.

ISIN NO:

The Company’s Demat International Security Identification Number (ISIN) for its equity shares in NSDL and CDSL is INE666Q01016.

ACKNOWLEDGEMENT:

Your directors would like to express their deep appreciation to employees at all levels for their hard work, dedication, and commitment.

The Board also places on record its appreciation and gratitude for the continued cooperation and support received by your Company during the year from shareholders, investors, bankers, financial institutions, customers, business partners, all regulatory and government authorities, and other stakeholders.

For and On Behalf of the Board of Directors Eiko LifeSciences Limited

Laxmikant Ramprasad Kabra

Chairman Date: 03.09.2024

DIN: 00061346 Place: Thane