Ravita Engineering Services Ltd. ನಿರ್ದೇಶಕರ ವರದಿ

Your Director’s have pleasure in presenting their 19^th Annual Report on the business and operations of the
company together with the Audited Financial Statements for the year ended March 31, 2026, and Auditor’s
Report thereon.

1. FINANCIAL PERFORMANCE:

The Audited Financial Statements of the Company as on March 31, 2026, are prepared in accordance with the
applicable Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended (the “Listing Regulations”) and the provisions of the Companies Act, 2013 (“Act”).

During the year under review, performance of your company is summarized as below:

(Amounts in ? Lakhs)

2. STATE OF COMPANY’S AFFAIRS AND FUTURE OUTLOOK:

Total Revenue of the Company for the financial year 2025-26 stood at Rs. Rs. 27,763.29 Lakhs as against Rs.
10,861.27 Lakhs for the financial year 2024-25, showing an increase of 155.62%.

EBITDA for the financial year 2025-26 stood at Rs. 4,023.95 Lakhs as against Rs. 1,577.57 Lakhs for the
financial year 2024-25, showing an increase of 155.07%.

Profit after tax for the financial year 2025-26 stood at Rs. 2,803.60 Lakhs as against Rs. 1,141.22 Lakhs for the
financial year 2024-25, showing an increase of 145.67%.

Your directors are hopeful for the bright future of the Company in the years to come.

3. CHANGE IN NATURE OF BUSINESS:

There has been no change in business during the year under review.

4. CHANGE IN NAME OF THE COMPANY:

During the financial year under review, the Company changed its name from M/s. Powermech Services Private
Limited to M/s. Ravita Engineering Services Private Limited pursuant to the approval of the Members by way
of a Special Resolution and the Registrar of Companies issued a fresh Certificate of Incorporation consequent
upon change of name on September 29, 2025. The change in name has no impact on the legal entity, rights,
obligations, assets or liabilities of the Company.

Subsequently, the Company was converted from a Private Limited Company into a Public Limited Company,
consequent upon which its name was changed from “Ravita Engineering Services Private Limited” to “Ravita
Engineering Services Limited”, and a fresh Certificate of Incorporation was issued by the Registrar of
Companies on December 16, 2025. The aforesaid changes do not affect the continuity, rights, obligations, assets
or liabilities of the Company.

5. CHANGE IN REGISTERED OFFICE OF THE COMPANY:

The Board of Directors of the Company at its meeting held on May 15, 2025, has approved to shift the registered
office of the Company from Office No. 44 & 45, 2nd, Floor, Pl - 18/27, Hiranandani Complex, Sector - 07,
Kharghar, Raigarh, Navi Mumbai - 410210, Maharashtra, India, Office No. 202, 2nd Floor, Mayuresh Square,
Plot No.17, Sector - 15, CBD Belapur, Navi Mumbai - 4000614, Maharashtra, India w.e.f May 15, 2025.

6. DIVIDEND:

During the year under review, the Board of Directors do not recommend any Dividend on the Equity Shares of
the Company in view of conservation of profits.

7. TRANSFER TO UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION
FUND:

The provision of section 125(2) of the Companies Act, 2013, do not apply to the Company as the company was
not required to transfer any amount to IEPF.

8. PROPOSED INITIAL PUBLIC OFFER (IPO):

During the financial year under review, the Company filed the Draft Red Herring Prospectus ("DRHP") with the
National Stock Exchange of India Limited ("NSE") on March 25, 2026 for its proposed Initial Public Offering
("IPO") on the SME Platform of NSE. Pursuant to the review of the DRHP and the information submitted by
the Company, NSE granted its In-Principle Approval for listing of the Equity Shares on July 2, 2026, subject to
compliance with the applicable laws, regulations and conditions stipulated by NSE.

9. AMOUNTS TRANSFERRED TO RESERVES:

No part of the profit for the year was transferred to General Reserves during the year under review.

10. CHANGES IN SHARE CAPITAL:

During the period under review following changes have taken place in the share capital of the company.

• Increase in Authorised Share capital of the Company

During the financial year under review, the Members of the Company approved the increase in the Authorised
Share Capital of the Company on two occasions.

Pursuant to the approval by the Members in Extra- Ordinary General Meeting held on April 02, 2025, the
Authorised Share Capital of the Company was increased from ? 10,00,000/- (Rupees Ten Lakhs only) divided
into 1,00,000 (One Lakh) Equity Shares of face value of ?10/- each to ?16,10,00,000/- (Rupees Sixteen
Crores Ten Lakhs only) divided into 81,00,000 (Eighty-One Lakhs) Equity Shares of face value of ?10/- each
and 8,00,000 (Eight Lakhs) Preference Shares of face value of ?100/- each.

Subsequently, pursuant to to the approval by the Members in Extra- Ordinary General Meeting held on July
30, 2025, the Authorised Share Capital of the Company was further increased from ?16,10,00,000/- (Rupees
Sixteen Crores Ten Lakhs only) divided into 81,00,000 (Eighty-One Lakhs) Equity Shares of face value of
?10/- each and 8,00,000 (Eight Lakhs) Preference Shares of face value of ?100/- each to ?24,50,00,000/-
(Rupees Twenty-Four Crores Fifty Lakhs only) divided into 1,65,00,000 (One Crore Sixty-Five Lakhs)
Equity Shares of face value of ?10/- each and 8,00,000 (Eight Lakhs) Preference Shares of face value of
?100/- each.

• Reclassification of the Authorized Share Capital of the Company

During the financial year under review, the Members of the Company, at the Extraordinary General Meeting
held on January 29, 2026, approved the reclassification of the Authorised Share Capital of the Company from
?24,50,00,000/- (Rupees Twenty-Four Crores Fifty Lakhs only) divided into 1,65,00,000 (One Crore Sixty-
Five Lakhs) Equity Shares of face value of ?10/- each and 8,00,000 (Eight Lakhs) Preference Shares of face

value of ^ 100/- each, to ?24,50,00,000/- (Rupees Twenty-Four Crores Fifty Lakhs only) divided into

2.45.00. 000 (Two Crores Forty-Five Lakhs) Equity Shares of face value of ?10/- each, by reclassifying the
unissued 8,00,000 (Eight Lakhs) Preference Shares of face value of ?100/- each, aggregating to
?8,00,00,000/- (Rupees Eight Crores only), into 80,00,000 (Eighty Lakhs) Equity Shares of face value of
?10/- each, aggregating to ?8,00,00,000/- (Rupees Eight Crores only).

Consequently, the Authorised Share Capital of the Company comprises 2,45,00,000 (Two Crores Forty-Five
Lakhs) Equity Shares of face value of ?10/- each, aggregating to ?24,50,00,000/- (Rupees Twenty-Four
Crores Fifty Lakhs only).

• Sub- Division of Authorized Share Capital of the Company

During the period under review, the Members of the Company, at the Extraordinary General Meeting held
on January 29, 2026, approved the sub-division (split) of the face value of the equity share capital from ?10/-
(Rupees Ten only) per Equity Share to ?5/- (Rupees Five only) per Equity Share.

Consequent to the sub-division, the Authorized Share Capital of the Company remained unchanged at
?24,50,00,000/- (Rupees Twenty-Four Crores Fifty Lakhs only); however, it stood sub-divided from

2.45.00. 000 (Two Crores Forty-Five Lakhs) Equity Shares of face value of ?10/- each to 4,90,00,000 (Four
Crores Ninety Lakhs) Equity Shares of face value of ?5/- each.

• Private Placement

During the financial year under review, the Company raised funds through the issue and allotment of Equity
Shares on a private placement basis, as detailed below:

a) Pursuant to the approval of the Members accorded at the Extra- Ordinary General Meeting held on May
16, 2025, the Board of Directors, at its meeting held on June 23, 2025, allotted 21,595 (Twenty-One
Thousand Five Hundred and Ninety-Five) fully paid-up Equity Shares of face value of ?10/- each at an
issue price of ?16,000/- per Equity Share (including a securities premium of ?15,990/- per Equity Share)
for cash, aggregating to ?34,55,20,000/- (Rupees Thirty-Four Crores Fifty-Five Lakhs Twenty Thousand
only).

b) Pursuant to the approval of the Members accorded at the Extra- Ordinary General Meeting held on July
2, 2025, the Board of Directors, at its meeting held on July 7, 2025, allotted 4,046 (Four Thousand Forty-
Six) fully paid-up Equity Shares of face value of ?10/- each at an issue price of ?16,000/- per Equity
Share (including a securities premium of ?15,990/- per Equity Share) for cash, aggregating to
?6,47,36,000/- (Rupees Six Crores Forty-Seven Lakhs Thirty-Six Thousand only).

c) Pursuant to the approval of the Members accorded at the Extra- Ordinary General Meeting held on July
30, 2025, the Board of Directors, at its meeting held on August 12, 2025, allotted 9,600 (Nine Thousand
Six Hundred) fully paid-up Equity Shares of face value of ?10/- each at an issue price of ?16,000/- per

Equity Share (including a securities premium of ^ 15,990/- per Equity Share) for cash, aggregating to
?15,36,00,000/- (Rupees Fifteen Crores Thirty-Six Lakhs only).

• Bonus Issue

During the period under review, pursuant to the members approval at the Extra-ordinary General Meeting
held on January 29, 2026, the Board of Directors of the Company at its meeting held on February 19, 2026
issued and allotted 2,70,48,200 (Two Crore Seventy Lakhs Forty- Eight Thousand Two Hundred) Equity
Shares of Rs.5/- (Rupees Five Only) each to the holders of existing equity shares of the Company in the
proportion of 100 (Hundred) equity shares for every 1 (one) existing equity share held by the Members as on
the Record date i.e. January 2, 2026.

• Issued, Subscribed & Paid-Up Capital

The Issued, Subscribed & Paid-Up Capital of the Company as on March 31, 2026, is Rs. 13,65,93,410/-
(Rupees Thirteen Crores Sixty- Five Lakhs Ninety-Three Thousand Four Hundred and Ten only) divided
into 2,73,18,682 (Two Crores Seventy-Three Lakhs Eighteen Thousand Six Hundred and Eighty-Two)
Equity Shares of Rs.5/- (Rupees Five Only) each.

11. MATERIAL CHANGES AND COMMITMENTS, IF ANY AFFECTING THE FINANCIAL
POSITION OF THE COMPANY THAT OCCURRED DURING THE FINANCIAL YEAR:• Conversion from Private Limited Company to Public Limited Company

The Company has converted from Private Limited Company to Public Limited Company and consequently
upon conversion, the name of the Company has been changed from “Ravita Engineering Services Private
Limited” to “Ravita Engineering Services Limited” and the fresh certificate of incorporation dated
December 16, 2025, was issued by the Registrar of Companies.

• Alteration of Memorandum and Articles of Association of the Company.

During the financial year under review, the Memorandum of Association and Articles of Association of the
Company were altered from time to time, pursuant to the approval of the Members, to give effect to various
corporate actions undertaken by the Company, including increase and reclassification of the authorised share
capital, sub-division of equity shares, change in the name of the Company, conversion of the Company into
a Public Limited Company and alteration of the Object Clause of the Memorandum of Association. The
necessary statutory filings in respect thereof were duly completed.

12. DEPOSITS:

Your Company has neither accepted / renewed any deposits from public during the year nor has any outstanding
Deposits in terms of Section 77 of the Companies Act, 2013. Further there were no Deposits which are not in
compliance of the requirements of Chapter V of the Act.

13. BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

As on the date of this Report, the Board of Directors of the Company comprises of 5 (Five) Board Members out
of which 1 (one) is an Executive Director, 1 (One) is a Managing Director and 3 (three) are Non-Executive
Independent Directors.

The composition of the Board of Directors of the Company as on the date of this Report is as follows:

Changes in the composition of the Board of Directors and Key Managerial Personnel during the Financial
Year 2025-26 and up to the date of this report:a) Appointments/Resignations/Changes in the Board of Directors:

The following changes took place among the Board of Directors of the Company during the Financial Year and
as on the date of this Report:

i. Appointment / Change in Designation of Directors:

All Directors have confirmed that they are not disqualified under the provisions of Section 164(2) of the
Companies Act, 2013.

Further, the Board of Directors in their meeting held on March 12, 2026, approved appointment of Mr. Vibhoar
Agrawal, Executive Director as Chairman of the Board of Directors.

ii. Cessation of Directors:

b) Key Managerial Personnel (KMP):

The following changes took place among the Key Managerial Personnel (KMP) of the Company during the year
under review and as on the date of this Report:

14. INDEPENDENT DIRECTORS:

The appointment of the Independent Directors on the Board of Directors of the Company is subject to the
provisions of Section 149 and Schedule IV of the Companies Act, 2013.

The Company has obtained declarations from the Independent Directors of the Company to the effect that they
are meeting the criteria of independence as provided in sub-section (6) of Section 149 of the Companies Act,
2013 including the compliance of relevant provisions of the Companies (Appointment and Qualifications of
Directors) Rules, 2014.

The Independent Directors have also confirmed that they have complied with Schedule IV of the Companies
Act, 2013 and Company’s code of conduct. The Board is of the opinion that the Independent Directors of the
Company possess requisite qualifications, skills, experience and expertise and they hold highest standards of
integrity (including the proficiency) and fulfils the conditions specified in the Act and are independent of the
management.

15. COMMITTEES OF THE BOARD:• AUDIT COMMITTEE:

Pursuant to Section 177 and other applicable provision of the Companies Act, 2013 and rules made thereunder,
the Company constituted an Audit Committee.

As on March 31, 2026, the composition of Audit Committee is as under:

• NOMINATION AND REMUNERATION COMMITTEE:

The Nomination and Remuneration Committee has been constituted as per Section 178 and other applicable
provisions of the Companies Act, 2013 and rules made thereunder.

As on March 31, 2026, the composition of Nomination and Remuneration Committee is as under:

The Committee has formulated the Nomination and Remuneration Policy, which outlines the criteria for
appointment, performance evaluation, and remuneration of Directors, key managerial personnel and senior
management. The policy is available on the Company’s website at https://ravita.co.in/policies-and-code-of-
conduct/

• STAKEHOLDERS REALTIONSHIP COMMITTEE:

The Company has voluntarily constituted as per Section 178 and other applicable provision of the Companies
Act, 2013 and rules made thereunder a Stakeholders Relationship Committee to oversee the redressal of investor
grievances and related matters.

As on March 31, 2026, the composition of Stakeholders Relationship Committee is as under:

• CORPORATE SOCIAL RESPONSIBILITY COMMITTEE:

Pursuant to Section 135 and other applicable provision of the Companies Act, 2013 and rules made thereunder,
the Company has constituted a Corporate Social Responsibility (CSR) Committee.

As on March 31, 2026, the composition of Corporate Social Responsibility Committee is as under:

In accordance with the provisions of Section 135 of the Companies Act, 2013, the Board of Directors has
formulated and approved a Corporate Social Responsibility Policy (CSR Policy) indicating the activities to be
undertaken by the Company. The CSR Committee and Board functions according to the CSR Policy. The policy
is available on the Company’s website at https://ravita.co.in/policies-and-code-of-conduct/.

The Annual Report on CSR Activities is enclosed as per prescribed format as ‘Annexure - A’ and forms a
integral part of this report.

16. MEETINGS OF THE BOARD OF DIRECTORS:

The Board of Directors met 17 (Seventeen) times during the Financial Year 2025-26 and the details of the same
are mentioned below:

The gap intervening between any two consecutive meetings was not more than one hundred and twenty days.
Attendance of the Directors for the Board Meetings held in the Financial Year 2025-26:

COMMITTEE MEETINGS:A. Audit Committee

Number of Meetings Held: 1

17. GENERAL MEETING:

During the financial year under review, the Company held nine General Meetings, comprising eight Extra¬
Ordinary General Meetings held on April 02, 2025, April 30, 2025, May 16, 2025, July 02, 2025, July 30, 2025,
November 03, 2025, January 29, 2025, and February 26, 2025, and one Annual General Meeting held on
September 05, 2025.

18. SUBSIDIARY, JOINT VENTURE OR ASSOCIATES COMPANIES:

As on March 31, 2026, the Company has one Joint Venture and no Subsidiary or Associate Company.

The details in Form AOC-1 in respect of the Joint Venture are annexed as “Annexure - A” to this Report.

During the year under review, the Company acquired 10% stake in M/s. Ganesh Netsoft JV Networks pursuant
to the approval of the Board of Directors at its meeting held on August 04, 2025, thereby making the said entity
a Joint Venture of the Company, in accordance with the applicable provisions of the Companies Act, 2013.

19. AUDITORS AND AUDITORS REPORT:• STATUTORY AUDITORS:

Pursuant to the provisions of Section 139 and any other applicable provisions and the Rules framed
thereunder, If any, of the Companies Act, 2013 (including any statutory modifications) or re-enactment
thereof for the time being in force read with Companies (Audit and Auditors) Rules, 2014, as amended
from time to time, M/s. Piyush Kothari & Associates, Ahmedabad (Firm Registration No. 140711W)
were appointed as Statutory Auditors of the Company in the Annual General Meeting of the Financial
Year 2024-25 for a term of five consecutive years i.e., from the conclusion of the 18^th AGM till the
conclusion of 23^rd AGM to be held for the FY 2029-30.

The Statutory Auditor’s Report for the financial year 2025-26, issued by M/s. Piyush Kothari &
Associates, forms part of this Annual Report. The said report does not contain any qualification,
reservation, or adverse remark.

• SECRETARIAL AUDITORS:

Pursuant to prevision of Section 204 of the Companies Act 2013 and the Rules Framed thereunder, if
any of the Companies Act, 2013 (Including any statutory modifications or re-enactment thereof for the
time being in force) is not applicable to the Company.

• INTERNAL AUDITOR:

Pursuant to Section 138 of the Companies Act, 2013 and the Rules framed thereunder, if any, of the
Companies Act, 2013 (including any statutory modification(s) or re-enactment thereof for the time being
in force), is not applicable to the Company.

• COST AUDITORS:

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 is not applicable to the Company.

• REPORTING OF FRAUDS BY AUDITORS:

During the year under review the Statutory Auditors have not reported any instances of frauds
committed in the Company by its Officers or Employees, to the Audit Committee or the Board under
Section 143 (12) of the Companies Act, 2013

20. CORPORATE GOVERNANCE:

The Company is committed to good corporate governance practices.

21. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has established robust and effective internal control systems, supported by best practices suited
to its size and scale of operations. These controls ensure that all assets are safeguarded, and all transactions are
duly authorized, accurately recorded, and properly reported. The internal audit function reviews a broad range
of operational areas and ensures compliance with applicable policies, procedures, and standards. During the year,
no reportable material weaknesses in the design or operation of these controls were observed.

22. VIGIL MECHANISM/ WHISTLE BLOWER POLICY:

The Company has adopted a Whistle Blower Policy and established a vigil mechanism for Directors, employees,
and business associates in compliance with Section 177 of the Companies Act, 2013, and Regulation 22 of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The policy, duly approved by the
Board of Directors, enables stakeholders to report genuine concerns relating to unethical practices or improper
conduct. It also ensures protection to whistle blowers against any form of retaliation. All reported matters are
appropriately investigated, and necessary actions are taken in accordance with the Policy. The Whistle Blower
Policy is available on the Company’s website at https://ravita.co.in/policies-and-code-of-conduct/ .

23. ANNUAL RETURN:

Pursuant to Section 134(3)(a) of the Act, the draft annual return prepared in accordance with the Section 92(3)
of the Companies Act, 2013, is made available on the website of the Company https ://ravita. co. in/.

24. PARTICULARS OF LOAN, GAURANTEES OR INVESTMENTS:

During the financial year under review, the Company has not given any loan, provided any guarantee or security,
or made any other investment covered under Section 186 of the Companies Act, 2013. The particulars of the
investment made by the Company during the financial year are as follows:

The details of the aforesaid investment are disclosed in Note No. 12 to the Financial Statements for the financial
year 2025-26, forming part of this Annual Report.

25. RELATED PARTY TRANSACTIONS:

All related party transaction entered during the year were in Ordinary Course of the Business and on arm’s length
basis and in compliance with the provisions of the Act and the Policy. No Material Related Party Transactions

were entered during the year by your Company. Accordingly, 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.

The disclosures pertaining to the related party transactions, in accordance with AS-18, have been provided under
Note No. 29 of the financial statements.

The Policy on Related Party Transactions is available on the Company''s website https://ravita.co.in/policies-
and-code-of-conduct/ .

26. CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO:A. Conservation of Energy:

a. Steps taken or impact on conservation of energy - The Operations of the Company are not
energy intensive. However, Company continues to implement prudent practices for saving
electricity and other energy resources in day-to-day activities.

b. Steps taken by the Company for utilizing alternate sources of energy - Though the activities
undertaken by the Company are not energy intensive, the Company shall explore alternative
sources of energy, as and when the necessity arises.

c. The capital investment on energy conservation equipment - NilB. Technology Absorption:

The Company is engaged in providing engineering and related services and does not have any specific
technology absorption activity during the financial year under review. Accordingly, the particulars relating to
technology absorption are not applicable to the Company.

C. Foreign Exchange Earnings and Outgo:

During the financial year under review, the Company had no foreign exchange earnings or outgo.

27. BOARD POLICIES:

The details of various policies approved and adopted by the Board as required under the Companies Act, 2013
and SEBI Listing Regulations are available on the website of the Company at https://ravita.co.in/policies-and-
code-of-conduct/ .

28. POLICY OF DIRECTORS’ APPOINTMENT AND REMUNERATION:

The Company’s policy on directors’ appointment and remuneration and other matters provided in Section 178(3)
of the Act is available on the website of the Company at https://ravita.co.in/policies-and-code-of-conduct/.

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

The Company has in place Prevention of Sexual Harassment at Workplace Policy in line with the requirements
of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013 and
rules made thereunder. All employees (permanent, contractual, temporary, trainees) are covered under this
policy.

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

• No. of complaints received: 0

• No. of complaints disposed of: 0

• No. of complaints pending: 0

• No. of complaints pending for more than ninety days: 0
Compliance on Maternity Benefit Act, 1961

The Company has complied with the applicable provisions of Maternity Benefit Act, 1961 for female employees
with respect to leaves and maternity benefits thereunder.

30. DIRECTOR S RESPONSIBILITY STATEMENT:

In accordance with the provisions of Section 134(5) of the Companies Act 2013, your directors confirm that:

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

b) The directors had selected such accounting policies and applied them consistently and made judgments and
estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the
Company as at March 31, 2026, and of the profit /loss of the Company for that period;

c) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act 2013 for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities.

d) The directors had prepared the annual accounts on a going concern basis.

e) The Company being unlisted, sub clause (e) of section 134(3) of the Companies Act, 2013 pertaining to
laying down internal financial controls is not applicable to the Company.

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.

31. SECRETARIAL STANDARDS:

The Directors have incorporated proper systems and process for complying with the requirements of applicable
provisions of Secretarial Standard-1 and Secretarial Standard-2 and Secretarial Standards issued by the Institute
of the Company Secretaries of India and that such systems were adequate and operating effectively.

32. RISK MANAGEMENT POLICY:

Considering the size of the Company, Risk Management is overseen by the Board of Directors of the Company
on a continuous basis and takes all the necessary steps to mitigate the issues, if any.

33. DETAILS OF APPLICATION / ANY PROCEEDING PENDING UNDER THE INSOLVENCY
AND BANKRUPTCY CODE, 2016:

No application or any proceeding is pending or initiated under the Insolvency and Bankruptcy Code, 2016.

34. DETAILS OF SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR
COURTS OR TRIBUNAL:

There was no Material order passed by the judicial or quasi-Judicial Authority which affects the Going Concern
Status of the Company during the year under review.

35. MATERIAL CHANGES AND COMMITMENTS, IF ANY AFFECTING THE FINANCIAL
POSITION OF THE COMPANY THAT OCCURRED BETWEEN THE END OF THE
FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS RELATE AND THE DATE
OF THE REPORT:

Except as disclosed in this Board''s Report, there have been no material changes or commitments which could
affect the financial position of the Company between the end of the financial year to which the financial
statements relate and the date of this Report.

36. GENERAL DISCLOSURES:

The Directors state that no disclosure or reporting is required in respect of the following items as there were no
transactions/events of these nature during the year under review.

a) Issue of equity shares with differential rights as to dividend, voting or otherwise

b) Voting rights which are not directly exercised by the employees in respect of shares for the subscription/
purchase of which loan was given by the Company (as there is no scheme pursuant to which such
persons can beneficially hold shares as envisaged under section 67(3)(c) of the Companies Act. 2013).

c) One-time settlement of loan obtained from the Banks or Financial Institutions.

d) Revision of financial statements and Directors'' Report of the Company.

e) None of the Directors of the Company has been debaned or disqualified from being appointed or
continuing as a Director by SEBI/Ministry of Corporate Affairs/Statutory Authorities.

37. ACKNOWLEDGMENT:

Your Directors would like to extend its sincere appreciation for the continued cooperation and support received
from the Company’s Bankers, Regulatory Authorities, Stakeholders including Financial Institutions and other
business associates. Their unwavering encouragement and trust have been invaluable throughout the year under
review.

Your Directors also wish to place on record its deep gratitude for the commitment demonstrated by all
executives, officers and staff at all levels of the Company. Their efforts have been instrumental in navigating the
year effectively. The Directors would further express heartfelt thanks to all shareholders for their enduring faith
hi the Company and look fonvard to your continued support in the future.