Directors Report of SSMD Agrotech India Ltd.

Mar 31, 2026

Your Directors have pleasure in presenting the 3rd Annual Report on the business and operations of the Company, together with the audited standalone financial statements for the financial year ended March 31, 2026 (“FY 2025-26”).

FINANCIAL RESULTS

A summary of the standalone financial results of the Company for the Financial Year 2025-26 and 2024-25 is as follows:

Particulars	FY 2025-26 (? Lakhs)	FY 2024-25 (? Lakhs)
Revenue from Operations including Other Income	11566.89	9918.40
Cost of Material Consumed	10732.42	9959.56
Changes in Inventories of Stock-in-Trade	(352.60)	(1161.24)
Employee Benefit Expenses	195.90	157.72
Finance Cost	62.11	75.50
Depreciation & Amortization Expenses	47.76	43.76
Other Expenses	132.52	106.07
Total Expenses	10818.12	9181.45
Profit Before Tax	748.77	736.95
Tax Expenses	196.05	199.20
Net Profit for the Year	552.75	537.75

FINANCIAL PERFORMANCE STANDALONE:

During the current period, the total revenue of the company has increased to INR 11,534.94 Lakhs as against INR 9,917.95 Lakhs in the previous year on standalone basis.

The Company has earned a net profit of INR 552.75 Lakhs as compared to a profit of INR 537.75 Lakhs in the previous year on standalone basis. The company will continue to pursue expansion in the domestic as well as in international market, to achieve sustained and profitable growth.

Any member intending to have a copy of Balance Sheet and other Financial Statement of these Companies shall be made available on the website of the Company at www.houseofinanohar.com.

It shall also be kept for inspection during business hours by any shareholder in the registered office of the Company.

SHARE CAPITALAuthorised Share Capital

As on 31^st March, 2026, the Authorised Share Capital of the Company stood at INR 11,00,00,000/- (Rupees Eleven Crores Only) divided into 1,10,00,000 (One Crore Ten Lakhs) Equity Shares of INR 10/- (Rupees Ten) each.

There is no other change in the Authorised Share Capital of the Company.

Paid Up Share Capital

As on April 1, 2025, the Paid-up Share Capital of the Company stood at INR 5,31,73,900/-(Rupees Five Crores Thirty-One Lakhs Seventy-Three Thousand Nine Hundred Only) divided into 53,17,390 Equity Shares of INR 10/- each.

The Members of the Company at their meeting held on April 14, 2025 approved the capitalization of a sum of INR 5,31,73,900/- out of the Free Reserves of the Company by way of issuance of 53,17,390 Bonus Equity Shares of INR 10/- each to the existing shareholders of the Company. Pursuant to the said approval, the Board of Directors at its meeting held on April 18, 2025 allotted 53,17,390 Bonus Equity Shares of INR 10/- each as fully paid-up Bonus Shares to the eligible shareholders.

Further, during the year under review, the Company successfully completed its Initial Public Offering (IPO). Pursuant to the IPO, 28,17,000 Equity Shares of face value of INR 10/- each were allotted on November 28,2025 at an issue price of INR 121/- per Equity Share, including a premium of INR 111/- per Equity Share. The Equity Shares of the Company were listed and admitted to dealings on the BSE SME Platform on December 2, 2025.

Consequent to the aforesaid Bonus Issue and IPO, the Paid-up Share Capital of the Company stood at INR 8,66,61,290/- (Rupees Eight Crores Sixty-Six Lakhs Sixty-One Thousand Two Hundred Ninety Only) divided into 86,66,129 Equity Shares of INR 10/- each as on March 31, 2026.

LISTING WITH STOCK EXCHANGES

The Equity Shares of the Company are listed on the BSE SME Platform of BSE Limited (BSE) and were admitted to dealings with effect from December 2,2025. The Company confirms that it has paid the applicable annual listing fees to BSE Limited for the financial year 2025-26.

DEMATERIALISATION OF EQUITY SHARES

All the Equity shares of the Company are in dematerialized form with either of the depositories viz NSDL and CDSL. The ISIN No. allotted to the company is INE1UR01013.

DIVIDEND

The Board of Directors has decided not to recommend any dividend for the financial year ended March 31, 2026, in order to conserve resources for the Company’s ongoing and planned expansion projects. The Board believes that reinvesting profits into the business will support long-term growth and enhance shareholder value.

TRANSFER TO RESERVES, IF ANY PROPOSED

The Company has transferred Rs. 552.77 Lakhs to the Reserve and surplus of the Company during the financial year under review.

DEPOSIT

During the year under review, the Company has not accepted or renewed any deposit from the public/members falling within the ambit of section 73 or section 74 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

CORPORATE GOVERNANCE

The Company is listed on SME Platform of BSE, by virtue of Regulation 15 of Listing Regulation the compliance with the corporate governance provisions as specified in Regulation 17, 17A, 18, 19, 20, 21, 22, 24, 24A, 25, 26, 27 clauses (b) to (i) and (t) of sub regulation 2 of Regulation 46 and Para C, D and E of Schedule V of the listing regulation are not applicable to the Company. Hence, the Corporate Governance Report does not form part of this Annual Report.

EMPLOYEES STOCK OPTION SCHEMES

The Company has not implemented any Employee Stock Option Scheme (ESOP) or other employee stock-based benefit scheme during the financial year under review. Accordingly, no shares have been issued under any ESOP scheme, and the provisions of Rule 12(9) of the Companies (Share Capital and Debentures) Rules, 2014 are not applicable to the Company for the financial year ended 31st March 2026.

SUBSIDIARIES/ASSOCIATES/JOINT VENTURE

During the year 2025-26 under review, the Company did not have any Subsidiary, Associate, or Joint Venture Company.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

Your Company beliefs that a strong Board is imperative to create a culture of leadership to provide a long-term vision and policy approach to improve the quality of governance. As on March 31, 2026, the Board of Directors of the Company consist of optimum combination of Executive Directors, Non-Executive Director, and Independent Directors of the Company.

The following changes took place in the composition of Board of Directors and Key

1. KEY MANAGERIAL PERSONAL:

During the year under review, Mr. Rajesh Thakur (Membership No.: A71143) was appointed as the Company Secretary and Compliance Officer of the Company in the meeting of Board of directors held on 11.04.2025. The Board places on record its appreciation for his valuable contribution and looks forward to his continued support in ensuring compliance with applicable laws, regulations and corporate governance requirements.

2. RESIGNATION OF WHOLE-TIME DIRECTOR

Subsequent to the close of the financial year 2025-26, Ms. Surbhi Munjal, Whole-Time Director of the Company, tendered her resignation from the office of Whole-Time Director with effect from March 26, 2026. The Board of Directors, at its meeting held on April 6, 2026, took note of and accepted her resignation and relieved her from the duties and responsibilities of the office with effect from the conclusion of the said Board Meeting.

The Board places on record its sincere appreciation for the valuable services rendered and contributions made by Ms. Surbhi Munjal during her tenure with the Company and wishes her success in her future endeavours.

Consequent upon her resignation from the office of Whole-Time Director, Ms. Surbhi Munjal also ceased to be a Member of the Stakeholders'' Relationship Committee of the Company with effect from April 6, 2026. The Board places on record its appreciation for her contributions during her tenure as a Member of the Committee.

3. APPOINTMENT OF ADDITIONAL DIRECTOR

Subsequent to the close of the financial year 2025-26, the Board of Directors, at its meeting held on April 6, 2026, appointed Mrs. Vandana Munjal as an Additional Director (NonExecutive) of the Company with effect from April 6, 2026, pursuant to the provisions of Section 161 of the Companies Act, 2013 and the Articles of Association of the Company.

Mrs. Vandana Munjal shall hold office as an Additional Director up to the date of the ensuing Annual General Meeting of the Company. The Board is of the opinion that her knowledge, experience and expertise will be of significant value to the Company and recommends her appointment as a Director for the approval of the Members at the ensuing Annual General Meeting.

Pursuant to the appointment of Mrs. Vandana Munjal as an Additional Director (NonExecutive) of the Company with effect from April 6, 2026, the Board of Directors inducted her as a Member of the Stakeholders'' Relationship Committee. The Committee stands reconstituted in accordance with the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

DECLARATION BY INDEPENDENT DIRECTORS

The Independent Directors hold office for their respective term and are not liable to retire by rotation. The Company has received declarations from all the Independent Directors of the Company confirming that they meet the criteria of independence as prescribed both under the Act and under the Listing Regulations. Further, in pursuance of Rule 6 of the Companies (Appointment and Qualifications of Directors) Rules, 2014, all Independent Directors of the Company have duly confirmed renewal of their respective registration with the Indian Institute of Corporate Affairs (IICA) database. In the opinion of the Board, all the Independent Directors fulfil the criteria of independence as specified in Companies Act, 2013 and Rules made thereunder read with Schedule IV as well as Listing Regulation and they are independent from the Management.

Further, all the Directors including Independent Directors of the Company possess appropriate skills, experience & knowledge in one or more fields viz. Board & Governance, Finance, Accounting Information Technology and Specialized Industry & environmental knowledge or other disciplines related to Company’s business.

FAMILIARIZATION PROGRAMME OF INDEPENDENT DIRECTORS

In compliance with the requirements of the Listing Regulations, the Company has put in place a familiarization programme for the Independent Directors to familiarize them with their roles, rights and responsibilities as Directors, the working of the Company, nature of the industry in which the Company operates, business model etc. At the time of appointment/re-appointment of Independent Directors, a formal letter of appointment is given to him, which, inter-alia, explains the role, functions, duties and responsibilities expected from him as an Independent Director of the Company. The Independent Director is also explained in detail the nature, business model of the industry and compliances under the Act, the Listing Regulations and other relevant rules & regulation.

Details of the familiarization programme for Independent Directors are available on the Company’s website at: www.houseofinanohar.com

COMMITTEES OF THE BOARD

The following Committees constituted by the Board function according to their respective roles and defined scope:

1. Audit Committee

2. Nomination and Remuneration Committee 3.Stakeholders Relationship Committee

During the year under review, all recommendations made by the Committees were duly accepted by the Board.

THE COMPOSITION OF THE SAID COMMITTEES ARE AS UNDER:

I. Composition of committees

a) AUDIT COMMITTEE

The Audit Committee was constituted vide Board of Directors resolution dated April 11, 2025, pursuant to Section 177 of the Companies Act, 2013 and Regulation 18 of SEBI (LODR). The Composition of the committee is as follows:

Name of the Director	Designation in the Committee	Nature of Directorship
Altab Uddin Kazi	Chairperson	Independent Director
Ishu Munjal	Member	Managing Director
Priyanka Poddar	Member	Independent Director

b) NOMINATION AND REMUNERATION COMMITTEE

The Nomination and Remuneration Committee was constituted at a meeting of the Board of Directors held on April 11, 2025 pursuant to Section 178 of the Companies Act, 2013 and Regulation 19 of SEBI (LODR). The Composition is as follows:

Name of the Director	Designation in the Committee	Nature of Directorship
Jai Gopal Munjal	Chairperson	Non-Executive Director
Altab Uddin Kazi	Member	Independent Director
Anuj Saraswat	Member	Independent Director

c) STAKEHOLDERS RELATIONSHIP COMMITTEE

The Stakeholder’s Relationship Committee has been formed by the Board of Directors, at the meeting held on April 11, 2025 pursuant to Section 178 of the Companies Act, 2013 and Regulation 20 of SEBI (LODR). The Composition is as follows:

Name of the Director	Designation Committee	in the	Nature of Directorship
Jai Gopal Munjal	Chairperson		Non-Executive Director
Priyanka Poddar	Member		Independent Director
Vandana Munjal*	Member		Additional Director

*Subsequent to the close of the financial year 2025-26, pursuant to the resignation of Ms. Surbhi Munjal and the appointment of Mrs. Vandana Munjal as an Additional Director (Non-Executive) of the Company with effect from April 6, 2026, the Stakeholders'' Relationship Committee was reconstituted by the Board of Directors. Consequently, Ms. Surbhi Munjal ceased to be a Member of the Committee and Mrs. Vandana Munjal was inducted as a Member of the Stakeholders'' Relationship Committee with effect from April 6, 2026.

CODE OF CONDUCT

The Board has laid down a Code of Conduct for all Board members and Senior Management Personnel of the Company. The Code is displayed on the website of the Company www.houseofinanohar.com. All Board members and Senior Management Personnel have affirmed compliance with the said Code of Ethics & Conduct.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

Pursuant to the provisions of Section 177(9) & (10) of the Companies Act, 2013, a Vigil Mechanism/Whistle Blower Policy for directors and employees to report their genuine concerns has been established. The Vigil Mechanism / Whistle Blower Policy has been uploaded on the website of the Company at

https://houseofrnanohar.com/demo/Media/Investors%20Docs/Policv-on-Vigil-Mechanism Whistle-Blower-for-Directors-and-Emplovees.pdf.

The Policy is an extension of the Code of Conduct for Directors & Senior Management Personnel and covers any unethical and improper actions or malpractices and events which have taken place/suspected to take place. As per the policy all Protected Disclosures should be addressed to the Vigilance Officer / Company Secretary or to the Chairman of the Audit Committee in exceptional cases.

STATUTORY AUDITORS & AUDITOR’S REPORT

Pursuant to Section 139 of the Act and the Companies (Audit and Auditors) Rules, 2014, M/s Chanana & Associates, Chartered Accountants, Delhi (Firm''s Registration No: 028379N), were appointed as Statutory Auditors of the Company in the Annual General Meeting of the Company for the Company held on 30.08.2024 for a period 05 (five) consecutive years, to hold office from the conclusion of this AGM till the conclusion of the 06^th AGM to be held in the year 2029, to conduct audit of the books of accounts of the Company from financial year 202425 to financial year 2028-29..

There is no qualification, reservation, adverse remark, comments, observations or disclaimer given by the Statutory Auditors in their report(s). There were no frauds reported by the Statutory Auditors under the provisions of Section 143 of the Act.

The Auditors have also confirmed that they have subjected themselves to the peer review process of Institute of Chartered Accountants of India (ICAI) and hold a valid certificate issued by the Peer Review Board of the ICAI and are eligible to continue as the statutory auditor of the Company.

SECRETARIAL AUDITORS AND THEIR REPORT

In terms of Section 204(1) of the Companies Act, 2013 read with rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s G. Rishabh & Company, Company Secretaries, as the Secretarial Auditor of the Company for the Financial Year 2025-26. The report of the Secretarial Auditor is annexed herewith as Annexure-1.

There are no qualifications, reservations, adverse remarks, comments, observations or disclaimer made by the Secretarial Auditors in their report. There were no frauds reported by the Secretarial Auditors under the provisions of Section 204 of the Act.

COST AUDITORS

The provisions of maintenance of Cost Records as specified by the Central Government under subsection (1) of Section 148 of the Act are not applicable on the Company.

MEETINGS OF BOARD OF DIRECTORS

During the financial year 2025-2026, your Board of Directors have met 18 (Eighteen) times. The details of meeting & attendance are given hereunder. The intervening gap between the Meetings was within the prescribed period.

MEETING OF INDEPENDENT DIRECTORS

Pursuant to Secretarial Standard -1 relating to Board Meeting issued by the Institute of Company secretaries of India, the independent directors shall conduct at least One (1) meeting in a Calendar Year to review the performance of Non-Independent Directors and the Board as a whole; to review the performance of the Chairman and to assess the quality, quantity and timeliness of flow of information between the company management and the Board and its members that is necessary for the Board to effectively and reasonably perform their duties.

Accordingly, all Independent Directors of the Company has conducted a meeting dated March 26th, 2026, without presence of non-independent director where they review the performance of all non-independent director of the company and the board as a whole, also review the performance of the Chairman of the company and assess the quality, quantity and timeliness of flow of information between the company management and the Board.

ANNUAL RETURN

Pursuant to Section 92(3) read with Section 134(3) of the Companies Act, 2013, the Annual Return as on March 31, 2024 has been uploaded on the Company’s website at:

(P https://houseofrnanohar.com/investor-financial-retum

CSR COMMITTEE

The Company comes under the criteria as mentioned in section 135 of the Companies Act,

2013 i.e., Corporate Social Responsibility and accordingly the amount has been spent on CSR activities in the financial year 2024-2025 to comply with the requirements of necessary social expenditure which is INR 15.04 Lakhs. The constitution of CSR Committee was not applicable for FY 2025-26. The CSR Report is annexed as Annexure- 2.

The Board of Director of your Company has formulated and adopted a policy on CSR which can be accessed at https://houseolfnanohar.com/policies.

BOARD EVALUATION

Pursuant to the provisions of Companies Act, 2013 and the Listing Regulations, the Board has carried out annual performance evaluation of its own performance, those of directors individually and of various committees. The performance of individual directors was evaluated on parameters, such as, number of meetings attended, contribution in the growth and formulating the strategy of the Company, independence of judgement, safeguarding the interest of the Company and minority shareholders, time devoted apart from attending the meetings of the Company, active participation in long term strategic planning, ability to contribute by introducing best practices to address business challenges and risk etc. The directors expressed their satisfaction with the evaluation process.

NATURE OF BUSINESS

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

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

A detailed review of the operations, performance, and future outlook of the Company and its businesses is provided in the Management Discussion and Analysis Report for FY 2025-26, annexed as Annexure-3.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186

The details of loans and Investments and guarantees covered under the provisions of Section 186 of the Act are given in the Notes to the Financial Statements forming a part of Annual Report. Current borrowings of the company are compliant with Section 180(l)(c) of the Companies Act, 2013.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

Pursuant to the provisions of Section 188 of the Companies Act, 2013, all related party transactions entered into during the financial year 2024-25 were conducted on an arm’s length basis and in the ordinary course of business.

The Company has entered into certain contracts/arrangements with related parties during FY 2025-26, and accordingly, Form No. AOC-2 is annexed as Annexure-4. The details of the transactions with related parties during the financial year 2025-26 are provided in the accompanying financial statements.

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

The Company has zero tolerance towards sexual harassment at the workplace and has adopted a policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and

Redressal) Act, 2013 and the Rules thereunder. As required under law, an Internal Compliance Committee has been constituted for reporting and conducting inquiry into the complaints made by the victim on the harassments at the workplace.

During the year the period under review, the Company has not received any sexual harassment complaints during the financial year nor is any complaint pending at the end of the financial year.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERNS STATUS AND COMPANY''S OPERATIONS IN FUTURE

There is no significant and material order passed by the regulators or courts or tribunals impacting the going concern status and the Company’s operations in future.

MATERIAL CHANGES AND COMMITMENT AFFECTING THE FINANCIAL POSITION

There have been no material changes and/or commitments alfecting the financial position of the Company which have occurred between the end of the financial year of the Company and the date of the Report.

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

Pursuant to provisions of Section 134(3)(m) & Rule 8(3) of Companies (Accounts) Rules, 2014 the details of energy conservation, technology absorption and foreign exchange earnings and outgo has been given in Annexure 5 to this report.

INTERNAL FINANCIAL CONTROLS AND THEIR ADEQUACY

The Company has a proper and robust system of internal controls geared towards achieving efficiency of business operations, safeguarding the Company''s assets and ensuring optimum utilization of resources. Such controls also ensure accuracy and promptness of financial reporting and compliance with statutory regulations. In the opinion of the Statutory Auditors of the Company, as expressed by them in their report, the Company has adequate internal control systems over financial reporting as at 31st March, 2026.

HUMAN RESOURCES

Your Company treats its “human resources” as one of its most important assets. Your Company continuously invests in attraction, retention and development of talent on an ongoing basis. A number of programs that provide focused people attention are currently underway. Your Company''s thrust is on the promotion of talent internally through job rotation and job enlargement.

PARTICULARS OF EMPLOYEES

In terms of the provisions of Section 197 (12) of the Companies Act, 2013 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, disclosure pertaining to remuneration and other details are provided in the Annexure 6 to this Report.

Particulars of employee remuneration, as required under Section 197 (12) of the Companies Act, 2013 read with Rule 5 (2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 forms an integral part of this Annual

Report. In terms of the provisions of the first proviso to Section 136 (1) of the Companies Act, 2013, the Annual Report is being sent to Members, excluding the aforementioned information. Any Member interested in obtaining a copy of such statement may write to the Company Secretary of the Company at [email protected].

TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

Your Company did not have any funds lying in unpaid or unclaimed dividend for a period of seven years Therefore, there were no funds which were required to be transferred to Investor Education and Protection Fund (IEPF) under Section 124 of the Companies Act, 2013.

COMPLIANCE WITH SECRETARIAL STANDARDS

During the year under review, the Company was in compliance with the Secretarial Standards, i.e., SS-1 and SS-2 relating to “Meetings of the Board of Directors” and “General Meetings” respectively.

INDUSTRIAL RELATIONS

The Company maintained healthy, cordial and harmonious industrial relations at all levels. The enthusiasm and unstinting efforts of employees have enabled the Company to remain at the leadership position in the industry. It has taken various steps to improve productivity across organization.

PROCEEDING UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016

No application or any proceeding has been filed against the Company under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) (“IBC Code”) during the financial year 2025-26.

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

The Company has not made any one-time settlement, therefore, the same is not applicable. UNSECURED LOANS FROM DIRECTORS

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

REGISTRAR AND SHARE TRANSFER AGENT

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

COMPLIANCE WITH THE MATERNITY BENEFIT ACT, 1961

The Company has complied with the provisions of the Maternity Benefit Act, 1961, including all applicable amendments and rules framed thereunder. The Company is committed to ensuring a safe, inclusive, and supportive workplace for women employees. All eligible women employees are provided with maternity benefits as prescribed under the Maternity Benefit Act, 1961, including paid maternity leave, nursing breaks, and protection from dismissal during maternity leave.

The Company also ensures that no discrimination is made in recruitment or service conditions on the grounds of maternity. Necessary internal systems and HR policies are in place to uphold the spirit and letter of the legislation.

DOWNSTREAM INVESTMENT

The Company neither have any Foreign Direct Investment (FDI) nor invested as any Downstream Investment in any other Company in India.

INTERNAL AUDIT

At the beginning of each financial year, an audit plan is rolled out with approval of the Company’s Audit Committee. The plan is aimed at evaluation of the efficacy and adequacy of internal control systems and compliance thereof, robustness of internal processes, policies and accounting procedures and compliance with laws and regulations. Based on the reports of internal audit, process owners undertake corrective action in their respective areas.

Significant audit observations and corrective actions are periodically presented to the Audit Committee of the Board.

DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the provisions under Section 134(5) of the Act, with respect to Directors’ Responsibility Statement, the Directors confirm:

a) . That in the preparation of the annual accounts, the applicable accounting standards have been followed and no material departures have been made from the same;

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

c) That they had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) That they had prepared the annual accounts on a going concern basis;

e) That they had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively; and

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

ACKNOWLEDGMENTS

The Board places on record its appreciation for the continued patronage, support and cooperation extended by its shareholders, customers, bankers and all Government and statutory agencies with whose help, cooperation and hard work the Company was able to achieve the results. Your directors would further like to record appreciation to the efforts of all the employees for their valuable contribution to the Company.