Directors Report of Rapid Multimodal Logistics Ltd.

Mar 31, 2025

Your directors have the pleasure of presenting the Board’s Report of Rapid Multimodal
Logistics Limited (Formerly Rapid Multimodal Logistics Private Limited) along with the annual
audited Financial Statements for the Financial Year ended on March 31, 2025.

Further, in compliance with the Companies Act, 2013 (“the Act”) and SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), the company
has made requisite disclosures in this report with the objective of accountability and
transparency in its operations to make you aware of its performance and future perspective of
the Company.

FINANCIAL HIGHLIGHTS:

Amount (In Lakhs)

PARTICULARS	Year ended 31st March 2025	Year ended 31st March 2024
Revenue from business operations	10299.33	7182.36
Other Income	8.33	1.89
Total Income	10307.65	7184.25
Expenses:
(a) Cost of Services Provided	9653.77	6580.52
(b) Employee benefits expense	152.53	147.69
(c) Finance costs	7.33	25.73
(d) Depreciation and amortization expense	13.32	8.69
(e) Other expenses	178.15	161.90

Total Expenses		10005.10	6924.53
Profit/(Loss) before exceptional and extraordinary items and tax		302.55	259.71
Exceptional Items & Extraordinary Items		-	-
Adjustments: Prior Period Items		-	-
-Earlier Years Gratuity		-	(7.54)
-Earlier years Depreciation		-	0.91
Profit Before Tax		302.55	253.08
Tax Expenses	Current Tax expense for the current year	79.13	68.92
	Tax Expense relating to previous year	0.00	-
	Net Current tax expense	79.13	68.92
	Deferred Tax	76.15	63.70
Profit/(Loss) for the period		226.40	189.39
Transfer to General Reserve		226.40	189.39

STATE OF THE COMPANY’S AFFAIRS

i. Segment-wise position of business and its operations:

ii. Change in the Status of the Company: Company has been listed during the year.

iii. Key Business Developments: NA

iv. Change in the Financial Year: There is no change in the financial year followed by the Company.

v. Capital Expenditure Programmes: NA

vi. Details and status of acquisition, merger, expansion, modernization and diversification: NA

vii. Developments, acquisition, and assignment of material intellectual Property Rights: NA

DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)

As of March 31, 2025, the company’s Board of Directors consists of six members, with three
being Executive Directors and three being Non-Executive Directors. The Non-Executive
Directors include two Independent Directors. The Board is chaired by an Executive Director.
This composition complies with the requirements of the Companies Act and the SEBI Listing
Regulations, as well as any related circulars and notifications issued by SEBI. In addition to
the Board, the company has appointed a Chief Financial Officer (CFO) and a Company
Secretary (CS).

All appointments of Directors are made in accordance with the relevant provisions of the
Regulations, and other laws, rules, and guidelines as may be applicable to the Company. The
Nomination and Remuneration Committee (“NRC”) exercises due diligence inter alia to
ascertain the ‘fit and proper’ person status of person proposed to be appointed on the Board of
Directors of the Company, and if deemed fit, recommends their candidature to the Board of
Directors for consideration.

During the year under review, no changes took place in the composition of the Board of
Directors and Key Managerial Personnel except for the following:

On November 13, 2024, Ms. Varsha Jhanwar resigned from her position as the Company
Secretary and Compliance Officer of the Company. Following her departure, the Board of
Directors appointed Mrs. Neha Shukla as the new Company Secretary and Compliance Officer
on November 13, 2024.

DECLARATION BY INDEPENDENT DIRECTORS

All Independent Directors have given declarations that they meet the criteria of Independence
as laid down under Section 149(6) of the Act and Regulations 16(1)(b) of SEBI (Listing
Obligation and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”). The
Independent Directors have also confirmed that they complied with the Company’s Code of
Conduct.

BOARD COMMITTEES:

The Board of Directors, in compliance with the requirements of various laws applicable to the
Company and for operational convenience, has constituted several committees to deal with
specific matters and has delegated powers for different functional areas to different committees.
The Board of Directors has constituted Audit Committee, Nomination and Remuneration
Committee, Stakeholders Relationship Committee, and Internal Complaints Committee.

The details of the Board Committees of your Company are as follows:

The Audit Committee and its terms of reference of the Audit Committee are in compliance with
the provisions of Section 177 of the Companies Act, 2013 and Regulation 18 of SEBI (LODR),
2015, respectively. All members of the Audit Committee are financially literate and have
accounting or related financial management expertise. The Audit Committee consists of the
following members:

Sr No.	Name of Director	Designation	Category of Director
1	Mr. Sandip Agarwal	Chairperson	Independent Director
2	Mr. Kumar Shreyans	Member	Independent Director
3	Mr. Narayan Agarwal	Member	Managing Director

Nomination and Remuneration Committee (“NRC”)

The Nomination and Remuneration Committee and the terms of the Nomination and
Remuneration Committee are in compliance with the provisions of Section 178 of the
Companies Act, 2013 and Regulation 19 of SEBI (LODR), 2015, respectively. The Nomination
and Remuneration Committee consists of the following members:

Sr No.	Name of Director	Designation	Category of Director
1	Mr. Sandip Agarwal	Chairperson	Independent Director
2	Mr. Kumar Shreyans	Member	Independent Director
3	Ms. Nidhi Agarwal	Member	Non-executive Director

Stakeholder Relationship Committee (“SRC”)

The terms of reference of the Stakeholders Relationship Committee are in compliance with the
provisions of Section 178 of the Companies Act, 2013 and Regulation 20 of SEBI (LODR)
2015, respectively. The Stakeholders Relationship Committee consists of the following
members:

Sr No.	Name of Director	Designation	Category of Director
1	Mr. Sandip Agarwal	Chairperson	Independent Director

2	Mr. Narayan Agarwal	Member	Managing Director
3	Ms. Nidhi Agarwal	Member	Non-executive Director

Internal Complaints Committee (“ICC”)

The Internal Complaint Committee has been made under the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013. The Internal Complaint
Committee consists of the following members:

Sr No.	Name of Director	Designation	Category of Director
1	Ms. Nidhi Agarwal	Presiding Officer	Non-Executive Director
2	Ms. Sikha Agarwal	Member	NA
3	Mr. Manoj Goel	Member	Executive Director
4	Mr. Nikesh Garg	Member	NA

MEETINGS OF THE BOARD OF DIRECTORS, AUDIT COMMITTEE (AC),
NOMINATION AND REMUNERATION COMMITTEE (NRC), AND INTERNAL
COMPLAINT COMMITTEE (ICC)

During the financial year 2024-25, 13 Meetings of the Board of Directors of the Company, 4
meetings of the Audit Committee (AC) and 1 meeting of the Nomination and Remuneration
Committee (NRC) and 1 meeting of the Stakeholder Relationship Committee (SRC) was held.

The details of Board Meetings are given below

Date	Serial Number	Board Strength	No. of Directors Present
10th April, 2024	01/BM/2024-25	6	6
30th May, 2024	02/BM/2024-25	6	6
03rd July, 2024	03/BM/2024-25	6	6
15th July, 2024	04/BM/2024-25	6	6
14th August, 2024	05/BM/2024-25	6	6
16th August, 2024	06/BM/2024-25	6	6
28th August, 2024	07/BM/2024-25	6	6
22nd October, 2024	08/BM/2024-25	6	6
13th November, 2024	09/BM/2024-25	6	5

16th November, 2024	10/BM/2024-25	6	6
20th January, 2025	11/BM/2024-25	6	6
30th January, 2025	12/BM/2024-25	6	6
26th March, 2025	13/BM/2024-25	6	6

The details of the Audit Committee Meetings are given below:

Date	Serial Number	Board Strength	No. of Directors Present
13th November, 2024	01/AC/2024-25	3	3
20th December, 2024	02/AC/2024-25	3	3
01st October, 2025	03/AC/2024-25	3	3
29th March, 2025	04/AC/2024-25	3	3

The details of the Nomination and Remuneration Committee Meeting are given below:

Date	Serial Number	Board Strength	No. of Directors Present
13 th November, 2024	01/NRC/2024-25	3	3

The details of the Stakeholder Relationship Committee Meetings are given below:

Date	Serial Number	Board Strength	No. of
			Directors
			Present
11th November, 2024	01/SRC/2024-25	3	3

The attendance of each Director at the Board Meeting is mentioned below:

Name of Member	Attendance during 2024-25
Mr. Narayan Agarwal	12
Mr. Summit Agarwal	13
Mrs. Neha Agarwal	13
Mr. Manoj Goel	13
Mr. Kumar Shreyans	13
Mr. Sandip Agarwal	13

Name of Member	Attendance during 2024-25
Mr. Sandip Agarwal	4
Mr. Kumar Shreyans	4
Mr. Narayan Agarwal	4

The attendance of each Member of the Nomination and Remuneration Committee Meetings is
mentioned below:

Name of Member	Attendance during 2024-25
Mr. Sandip Agarwal	1
Mr. Kumar Shreyans	1
Ms. Nidhi Agarwal	1

The attendance of each Member of the Stakeholder Relationship Committee Meetings is
mentioned below:

Name of Member	Attendance during 2024-25
Mr. Sandip Agarwal	1
Mr. Kumar Shreyans	1
Ms. Nidhi Agarwal	1

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134 (5) of the Companies Act, 2013, the Board of Directors of the Company
confirms that:

a. In the preparation of the annual accounts, the applicable accounting standards have been
followed by the Company, along with proper explanation relating to material
departures, if any;

b. The director 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 of the Company for that period;

c. The director had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding the
assets of the Company and for preventing, and detecting fraud and other irregularities;

d. The director had prepared the annual accounts on a going concern basis;

e. The directors, had laid down internal financial controls to be followed by the company,
wherever required, and that such internal financial controls were adequate and were
operating effectively; and

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

BOARD EVALUATION

The Board have undertaken an annual evaluation of the performance of the entire Board and
Committees, Individual peer review of all the Directors and Independent Directors of the
Company as per Section 134(3)(p) of the Act read with rule 8(4) of the Companies (Accounts)
Rules, 2014. The performance evaluation forms were circulated to the Board & Committee
members, and the responses to the same have been received.

The key outcomes of this evaluation, along with actionable areas, are presented to both the
Nomination and Remuneration Committee and the full Board of Directors. This structured
approach ensures that the findings are thoroughly discussed and acted upon, leading to a
continuous improvement in board effectiveness and overall corporate governance.

COMPLIANCE WITH APPLICABLE SECRETARIAL STANDARDS

During the period under review, your Company has followed the applicable Secretarial
Standards, relating to the meeting of the Board of Directors (SS-1) and the General Meetings
(SS-2), issued by the Institute of Company Secretaries of India (ICSI) and mandated as per the
provisions of Section 118 (10) of the Act.

COMPANY’S POLICY RELATING TO DIRECTORS’ APPOINTMENT, PAYMENT
OF REMUNERATION AND DISCHARGE OF THETR DUTIES

As per the provisions of Section 178(3) and Section 134 (3) (e) of the Act, on recommendation
of the Nomination and Remuneration Committee (NRC), the Board has framed a Nomination
and Remuneration Policy which lays down a framework in relation to appointment and
remuneration of Directors, Key Managerial Personnel and the other employees and their
remuneration. The policy is directed towards a compensation philosophy and structure that will
reward and retain talent and provide for a balance between fixed and incentive pay reflecting
short and long-term performance objectives appropriate to the work of the Company and its
goals. The Nomination and Remuneration Policy is available on the Company''s website at
www.rapidlogistics.in

CORPORATE SOCIAL RESPONSIBILITY

Provisions relating to Section 135 of the Companies Act, 2013 do not apply to the Company
for the financial year ended 31st March, 2025.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL
POSITION OF THE COMPANY

There are no material changes or commitments affecting the financial position of the Company
between the end of the period to which this financial statement relates and the date of this
Report.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS UNDER
SECTION 186

No Loans, Guarantees and Investments covered under the provisions of Section 186 of the
Companies Act, 2013 have been given, provided or made during the year under review.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED
PARTIES

The Company has adequate policies and procedures for the identification and monitoring of
Related Party Transactions. All the transactions entered into with the Related Parties during the
year under review were on an arm''s length basis and were in the ordinary course of business.
The Company presented all Related Party Transactions before the Board for their approval
specifying the nature, value, and terms and conditions of the transaction.

All the related party transactions are presented to the Audit Committee and Board for their
approval. Disclosure in Form AOC-2 is enclosed herewith as "Annexure - D". Your attention is
drawn to the related party disclosure made in the note contained in the financial statements of
the Company reporting, approval and disclosure processes are in place for all transactions
between the Company and the Related Parties. The policy is available on the website of the
Company at www.rapidlogistics.in

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS & OUTGO:

The information pertaining to the Conservation of Energy, Technology Absorption, Foreign
Exchange Earnings and Outgo as required under Section 134 (3)(m) of the Act read with Rule
8(3) of the Companies (Accounts) Rules, 2014 is enclosed herewith as "Annexure-A".

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Pursuant to Regulation 34 (2) (e) read with Para B of Schedule V of the SEBI Listing
Regulations, the Management Discussion and Analysis Report forms part of this Report and is
enclosed herewith as "Annexure-B".

CAPITAL STRUCTURE

During the year under review, the Company has come up with an initial public offering of
10,11,200 Equity Shares of ?10/-each.

UNSECURED LOAN FROM DIRECTORS

During the year under review, the Company has not borrowed an unsecured loan from any of
the Directors of the Company.

STATEMENT INDICATING DEVELOPMENT AND IMPLEMENTATION OF RISK
MANAGEMENT POLICY OF THE COMPANY

Your Company has in place a mechanism to identify, assess, monitor, and mitigate various risks
to key business objectives that may threaten the existence of the Company. Major risks
identified by the various functions are documented along with appropriate mitigating controls
on a periodic basis. The policy is available on the website of the Company at
www.associatedcoaters.in.

CONSOLIDATED FINANCIAL STATEMENTS

The Company does not have any subsidiaries, so there is no need to prepare consolidated
financial statements for the year 2024-2025.

DETAILS OF SIGNIFICANT MATERIAL ORDERS PASSED BY THE
REGULATORS/COURTS/TRIBUNAL IMPACTING THE GOING CONCERN
STATUS & COMPANY’S OPERATION IN FUTURE

During the period under review, the Company has not received any significant orders/material
orders passed by any of the Regulators/Courts/ Tribunals impacting the Going Concern status
of the Company and its operations in the future.

WHISTLE BLOWER/VIGIL MECHANISM POLICY

The Company is committed to maintaining an ethical workplace that facilitates the reporting of
potential violations of the Company''s policies and the applicable laws. To promote the highest
ethical standards, the Company encourages its employees who have concern(s) about any actual
or potential violation of the legal & regulatory requirements, incorrect or misrepresentation of
any financial statements and reports, etc. any claim of theft or fraud, and any claim of retaliation
for providing information to or otherwise assisting the Audit Committee, to come forward and
express his/her concern(s) without fear of punishment or unfair treatment. Pursuant to the
provisions of the Act and the Listing Regulations, the Company has established a robust Vigil
Mechanism for Directors and Employees to report to the management instances of unethical
behaviour, actual or suspected, fraud or violation of the Company''s Code of Conduct. The
Whistle Blower Policy/Vigil Mechanism provides that the Company investigates in such
incidents, when reported, in an impartial manner and shall take appropriate action as and when
required to do so. The Whistle Blower Policy/Vigil Mechanism Policy of the Company is
available on the website at www.rapidlogistics.in

DEPOSITS

During the period under review, the Company has not accepted any deposits within the meaning
of Sections 73 and 74 of the Act, read with Companies (Acceptance of Deposit) Rules, 2014.

INVESTOR GRIEVANCE REDRESSAL POLICY

Your Company has adopted an internal policy for Investor Grievance handling, reporting and
redressal of the same.

ANNUAL RETURN

The Annual Return of your Company as on March 31, 2025, in the Form MGT-7 in accordance
with Section 92(3) and 134(3)(n) of the Act, as amended from time to time and the Companies
(Management and Administration) Rules, 2014, shall be available on the website of the
Company at www.rapidlogistics.in

COST RECORDS

The provisions of Section 148 of the Act regarding the maintenance of Cost records are not
applicable to your Company.

INTERNAL FINANCIAL CONTROL

Your Company has an adequate system of internal Financial Control commensurate with its
size and scale of operations, procedures, and policies, ensuring the efficient and orderly conduct
of its business, including adherence to the Company''s policy, safeguarding of its assets,
prevention and detection of fraud and errors, accuracy and completeness of accounting records
and timely preparation of reliable financial information. Based on the assessment carried out
by the Management and the evaluation of the results of the assessment, the Board is of the
opinion that the Company has an adequate Internal Financial Control System that is operating
effectively during the period under review. There were no instances of fraud that necessitate
reporting of material misstatements to the Company''s operations.

REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL & SENIOR
MANAGEMENT

The remuneration paid to the Directors, Key Managerial Personnel, and Senior Management is
in accordance with the Nomination and Remuneration Policy formulated in accordance with
Section 178 of the Act Particulars of Employees as required under Section 197(12) of the Act
and other disclosures as per Rule 5 of the Companies (Appointment & Remuneration of
Managerial Personnel) Rules, 2014 are annexed as "Annexure C".

DISCLOSURE REGARDING THE ISSUE OF EMPLOYEE STOCK OPTIONS

Your Company does not have any Employee Stock Option Scheme/ Plan during the year under
review.

DETAILS TN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER
SECTION 143(12) OTHER THAN THOSE REPORTABLE TO THE CENTRAL
GOVERNMENT

During the period under review, there have been no frauds reported by the Statutory
Auditors of the Company under sub-section (12) of Section 143 of the Act.

STATUTORY AUDITORS AND THEIR REPORT

M/s. Gupta Agarwal & Associates, Chartered Accountants (FRN No. 329001E), have been
appointed as the Statutory Auditor of the Company by the shareholders in the Annual
General Meeting held on September 29, 2023, for a period of five years from the Financial
Year 2023-24 to hold the office till the conclusion of the Annual General Meeting for FY
2028-29.

The Report given by the Statutory Auditors on Standalone Financial Statements of the
Company for the period under review forms part of the Annual Report. There are no
observations (including any qualifications, reservations, adverse remarks, or disclaimers)
of the Auditors in the Audit Report. Further, the notes to the accounts referred to in the
Auditor''s Report are self-explanatory.

SECRETARIAL AUDITORS AND THEIR REPORT

The Board of our Company at its meeting held on 10^th April, 2025, has approved the
appointment of M/s Mamta Binani and Associates, Company Secretaries (ICSI Unique
Code: P2016WB060900 and Peer Review Certificate No. 6475/2025) pursuant to the
recommendation of the Audit Committee, as the Secretarial Auditor of the Company for the
Financial Year 2024-25 at a remuneration of Rs. 1,86,000/- per annum plus applicable taxes
and reimbursement of actual out of pocket expenses incurred by them during the course of
audit

The Report of the Secretarial Audit for the financial year 2024-2025 is annexed herewith
as "Annexure E".

INTERNAL AUDITORS

The Board of our Company at its meeting held on 10^th April, 2025, has approved the
appointment of Mr. Sanjay Kumar as the Internal Auditor of the Company for the Financial
Year 2024-25, Pursuant recommendation of the Audit Committee, at a remuneration of Rs.
3,60,000/- per annum plus applicable taxes and reimbursement of actual out of pocket
expenses incurred by them during the course of audit and be reportable to the Chairman of
the Audit Committee.

EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR
ADVERSE REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE
PRACTISING COMPANY SECRETARY IN THEIR REPORTS

There are no qualifications, reservations or adverse remarks made by the Statutory Auditors
in their Report

CORPORATE GOVERNANCE

Since your Company''s Equity shares are listed on the SME Platform of BSE Limited and
therefore, the provisions of Corporate Governance Provisions under SEBI (Listing
Obligations and Disclosure Requirements), Regulations, 2015 are not applicable to the
company.

PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prohibition of Insider Trading (the ''Code'')
in accordance with the requirements of the SEBI (Prohibition of Insider Trading)
Regulations, 2015, with a view to regulate trading in securities by the Board of Directors
and Employees of the Company, their immediate relatives and other insiders as defined in
the Code. Also, during the period of closure of the trading window, no
Employee/Designated Person is permitted to trade with or without pre-clearance in
securities of restricted companies as informed by the Secretarial Department, from time to
time. Timely disclosures are made to the Stock Exchanges by the Company. No
Employee/Designated Person is permitted to communicate, provide, or allow access to any
Unpublished Price Sensitive Information relating to the Company, its securities or any other
company (listed or proposed to be listed), to any person except where such communication
is in furtherance of a legitimate purpose, Performance of duties or discharge of legal
obligations. The Company periodically monitors and facilitates compliance with the SEBI
(Prohibition of Insider Trading) Regulations, 2015.

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

The Company is committed to providing a conducive environment in which all individuals
are treated with respect and dignity, and promotes a gender sensitive and safe work
environment. Accordingly, the Board of Directors of the Company adopted a "Policy for
Prevention of Sexual Harassment of Women at Workplace and also constituted an Internal
Complaint Committee, in compliance with the provisions of the Sexual Harassment of
Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013.

Your Directors further state that during the year under review, there were no cases filed
pursuant to the Harassment of Women at Workplace (Prevention, Prohibition & Redressal)
Act, 2013. The policy adopted by the company for the prevention of sexual harassment is
available on the Company''s Website at www.rapidlogistics.in

DETAILS AND STATUS OF ACQUISITION. MERGER AND MODERNIZATION
AND DIVERSIFICATION DURING THE FINANCIAL YEAR 2024-25

No Acquisition, Merger, Modernisation or Diversification has taken place in your
Company.

REGISTRAR AND SHARE TRANSFER AGENT

During the year under review, Bigshare Services Private Limited was the Registrar and
Transfer Agent of the Company.

NUMBER OF EMPLOYEES AS ON THE CLOSURE OF THE FINANCIAL YEAR

The number of employees as on the closure of the financial year stood at:

Female: 3
Male: 15
Transgender: 0

STATEMENT THAT THE COMPANY HAS COMPLIED WITH THE MATERNITY
BENEFIT ACT

The Company hereby confirms that it has duly complied with the provisions of the
Maternity Benefit Act, 1961, during the financial year, and extended maternity benefits to
eligible employees as per the Act.

OTHER STATUTORY DISCLOSURES

a. ) The Standalone Financial Statements of the Company are placed on the Company''s
website at www.rapidlogistics.in

b. ) Details of top ten Employees in terms of the remuneration and Employees in receipt of
remuneration as prescribed under rule 5(2) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, as amended, containing details
prescribed under rule 5(3) of the said rules, which form part of the Board''s Report, will be
made available to any member on request, as per provisions of section 136(1) of the Act.

c. ) The Company has not defaulted in repayment of loans from banks and financial
institutions. There were no delays or defaults in payment of interest/principle of any of its
debt securities.

d. ) Neither any application was made, nor is any proceeding pending under the Insolvency
and Bankruptcy Code, 2016 against the Company.

e. ) During financial year 2024-25, there was no instance of one-time settlement with Banks
or Financial Institutions. Therefore, as per rule 5(xii) of Companies (Accounts) Rules, 2014,
reasons of difference in the valuation at the time of one-time settlement and valuation done
while taking loan from the Banks or Financial Institutions are not reported.

ACKNOWLEDGEMENT

The Board places on record its gratitude to the government and regulatory authorities,
including the Bombay Stock Exchange and the correspondent banks, for their support. The
Board acknowledges the support of the shareholders and also places on record its sincere
thanks to its valued client for its continued patronage. The Board also appreciates all
employees of the Company for their sincere work and commitment.

For and on behalf of the Board of Directors

SD/- SD/-

Narayan Agarwal Summit Agarwal

Managing Director Director & CFO

DIN:06944330 DIN: 08781729

Address: Flat No. 2152, 2nd Block, 15th Address: Flat No. 2152, 2nd Block, 15th

Floor, TVH Lumbini Square 127, Floor, TVH Lumbini Square 127,

Bricklin Road, Purasaiwakkam, Vepery, Bricklin Road, Purasaiwakkam, Vepery,
Chennai-600007, Tamil Nadu, India. Chennai-600007, Tamil Nadu, India

Date: 30/05/2025
Place: Chennai