Your Directors present the 40^th Annual Report on the Business and Operations of the Company along with the
Audited Statement of Accounts for the Financial Year ended on 31^st March 2025.

1. FINANCIAL RESULT:

The financial performance of the Company for the Financial Year ended on 31^st March, 2025 and for the previous
financial year ended on 31^st March, 2024 is given below:

(Rc In Lakhs)

2. OPERATIONS:

Total revenue for Financial Year 2024-25 is Rs. 19462.90 Lakhs compared to the total revenue of Rs. 6081.17
Lakhs of Previous Financial Year. The Company has incurred profit before tax for the Financial Year 2024-25 of
Rs. 1341.72 Lakhs as compared to profit before tax of Rs. 1110.50 Lakhs of previous Financial Year. Net Profit
for the Financial Year 2024-25 is Rs. 1299.22 Lakhs as against Net profit of Rs. 1064.01 Lakhs of previous
Financial Year. The Directors are continuously looking for the new avenues for future growth of the Company
and expect more growth in the future period.

3. CHANGE IN NATURE OF BUSINESS, IF ANY:

During the Financial Year 2024-25, Company has not changed its business activities.

4. SHARE CAPITAL:

Authorised Share Capital:

The authorized share capital of the Company as on 31^st March, 2025 is ^ 84,00,00,000 (Rupees Eighty-Four
Crores only) divided into 84,00,00,000 (Eighty-Four Crores Only) equity shares of face value of ^ 1/- (Rupee
One Only) each.

During the year under review, the Company had increased it Authorised capital from ^ 30,00,00,000 (Rupees
Thirty Crore only) divided into 3,00,00,000 (Three Crore Fifty Lakhs) equity shares of ^ 10/- each to ^
84,00,00,000 (Rupees Eighty-Four Crores only) divided into 8,40,00,000 (Eight Crore Forty Lakhs) equity
shares of face value of ^ 10/- (Rupees Ten Only) each of the Company and consequent alteration of
Memorandum of Association of the Company which was approved in Extra Ordinary General Meeting held on
October 17, 2024.

Paid up Share Capital:

The paid-up share capital of the Company as on 31st March, 2025 is ^ 84,00,00,000 (Rupees Eighty-Four Crores
only) divided into 84,00,00,000 (Eighty-Four Crores Only) equity shares of face value of ^ 1.00/- (Rupee One
Only) each

During the year under review, there has been change in the paid-up Share Capital of the Company.

1. The Board of Directors of the Company in the Board Meeting held on 13^th September, 2024, considered
and approved the conversion of 30,00,000 (Thirty Lakhs) Convertible warrants into 30,00,000 (Thirty
Lakhs) equity shares of face value of Rs. 10/- each,

2. The Board of Directors in the Board Meeting held on 9^th November, 2024 had allotted 56,00,00,000
(Fifty-Six Crores Only) Equity Shares of Rs. 1.00/- (Rupee One only) - each in the proportion of 2:1 i.e.
Two (2) new fully paid equity share of ^ 1.00/- (Rupee One only) each for every One (1) existing fully
paid equity share of 1.00/- (Rupee One only) each held by the shareholders. Pre- Bonus Paid-up share
Capital was Rs 28,00,00,000 and Post-Bonus Paid-up Share Capital is Rs 84,00,00,000.

5. DIVIDEND:

To conserve the resources for future prospect and growth of the Company, your Directors do not recommend
any dividend for the Financial Year 2024-25 (Previous year - Nil).

6. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND:

Pursuant to Section 124 of the Companies Act, 2013, the amount of dividend remaining unpaid or unclaimed
for a period of seven years shall be transferred to the Investor Education and Protection Fund ("IEPF"). During
the year under review, there was no unpaid or unclaimed dividend in the "Unpaid Dividend Account" lying for
a period of seven years from the date of transfer of such unpaid dividend to the said account. Therefore, there
were no funds which were required to be transferred to Investor Education and Protection Fund.

7. TRANSFER TO OTHER EQUITY:

The Profit of the Company for the Financial Year ending on 31^st March, 2025 is transferred to Profit and Loss
account of the Company under Reserves and Surplus (i.e. Other Equity).

8. WEBLINK FOR ANNUAL REPORT:

Pursuant to Section 92(3) read with Section134(3)(a) of the Act and Rule 12 of the Companies (Management
and Administration) Rules, 2014, the Annual Return as on March 31, 2025 is available on the Company's
website https://www.planterspolvsacks.com/

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

• Conversion of Warrant into equal number of Equity Shares

The Board of Directors of the Company in the Board Meeting held on 13^th September, 2024, considered
and approved the conversion of 30,00,000 (Thirty Lakhs) Convertible warrants into 30,00,000 (Thirty
Lakhs) equity shares of face value of Rs. 10/- each, upon receipt of an amount aggregating to Rs.
45,00,00,000/- (Rupees Forty Five Crore only) at the rate of Rs. 150 (Rupees One Hundred and Fifty) per
warrant (being 75% of the issue price per warrant) from the allottees pursuant to the exercise of their
rights of conversion into equity shares in accordance with the provisions of SEBI (ICDR) Regulations, 2018.

• Increase In Authorized Share Capital of the Company

The Board of Directors of the Company in the Board Meeting held on 23^rd September, 2024, an increase in
the Authorized Share Capital of the Company from ^ 30,00,00,000/- (Rupees Thirty Crore only), divided
into 3,00,00,000 (Three Crore) Equity Shares of ^ 10/- (Rupees ten only) each to 84,00,00,000/- (Rupees
Eighty Four Crore only), divided into 8,40,00,000 (Eight Crore Forty Lakhs) Equity Shares of ^ 10/-
(Rupees Ten only) each, by creation of additional 5,40,00,000 (Five Crore Forty Lakhs) Equity Shares of

face value of ^ 10/- (Rupees Ten only). This resolution was subsequently presented to the shareholders
and was duly approved at the Extraordinary General Meeting (EGM) held on 17th October, 2024.

• Sub Division of Equity Share

The Board of Directors of the Company in the Board Meeting held on 23^rd September, 2024 , sub-division
of 1 (One) Equity share of face value of ^10/-(Rupees Ten only) each fully paid-up to 10 (Ten) Equity shares
of the face value of ^ 1 (Rupee One only) each fully paid-up. This resolution was subsequently presented
to the shareholders and was duly approved at the Extraordinary General Meeting (EGM) held on 17^th
October, 2024.

• Issuance of Bonus Share

The Board of Directors of the Company in the Board Meeting held on 23^rd September, 2024, Bonus Issue
of Equity Shares in the ratio of 2:1 i.e., 2 Equity Shares of ^ 1/- each for every 1 Equity Share of ^ 1/. This
resolution was subsequently presented to the shareholders and was duly approved at the Extraordinary
General Meeting (EGM) held on 17^th October, 2024.

10. SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS:

There is no significant material orders passed by the Regulators or Courts or Tribunal, which would impact the
going concern status of the Company and its future operation.

11. BOARD MEETINGS AND ATTENDANCE:

The Directors of the Company met at regular intervals at least once in a quarter with the gap between two
meetings not exceeding 120 days to take a view of the Company's policies and strategies apart from the Board
Matters.

During the year under the review, the Board of Directors met 13 (Thirteen) times viz., 28^th May, 2024, 17^th June,
2024, 27^th June, 2024, 13^th August, 2024, 21^st August, 2024, 9^th September, 2024, 13^th September, 2024, 23^rd
September, 2024, 9^th November, 2024, 12^th November, 2024, 31^st January, 2025, 4^th February, 2025 and 12^th
February, 2025.

12. DIRECTORS RESPONSIBILITY STATEMENT:

In accordance with the provisions of Section 134 (3) (c) and 134 (5) of the Companies Act, 2013, to the best of
their knowledge and belief the Board of Directors hereby submit that:

a. In the preparation of the Annual Accounts, for the year ended on 31^st March, 2025 the applicable
accounting standards have been followed and there is no material departure from the same,

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 31^st March, 2025 and Profit and Loss of the Company for the financial
year ended on 31^st March, 2025.

c. The directors had taken proper and sufficient care for the maintenance of adequate accounting records
in accordance with the provisions of 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 Directors had laid down internal financial controls to be followed by the Company and that such
internal financial controls are adequate and are operating effectively and

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.

13. CORPORATE SOCIAL RESPONSIBILITY (CSR):

As per the provisions of the Section 135 of the Companies Act, 2013 if the net worth of rupees five hundred
crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more
during the immediately preceding financial year, is required to comply the provisions of Section 135.

During the financial year ended on 31^st March, 2025, the net profit of the Company is Rs. 12,99,23,000. Hence,
the Company is required to comply with the provision of Section 135 of the Companies Act, 2013. Therefore,

the Company has constituted Corporate Social Responsibility Committee consisting of Mr. Jaivikkumar Patel,
Chairman; Ms. Meenu Jain and Ms. Geetika Garg are the members.

14. STATUTORY AUDITOR AND AUDITORS' REPORT:

The Members of the Company at the 39^th AGM held on September 16, 2024, approved the reappointment of
M/s. J Singh & Associates, Chartered Accountants (FRN: 110266W) as the Statutory Auditors of the Company
for a period of 5 years commencing from the conclusion of the 39^th AGM, until the conclusion of the 44^th AGM
of the Company to be held in 2029.

The report issued by Statutory Auditors for financial year 2024-25 does not contain any qualifications or
adverse remarks. The Statutory Auditors have not reported any frauds under Section 143(12) of the Act.
Maintenance of cost records as specified under Companies Act, 2013 is not applicable to the Company.

15. PARTICULARS OF LOANS GIVEN, GUARANTEES GIVEN, INVESTMENTS MADE AND SECURITIES
PROVIDED UNDER SECTION 186 OF THE COMPANIES ACT. 2013:

The details of loans, investment, guarantees and securities covered under the provisions of section 186 of the
Companies Act, 2013 are provided in the financial statement.

16. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES:

During the year under review, all the Related Party Transactions were entered at arm's length basis and in the
ordinary course of business and were in compliance with the applicable provisions of the Act and the Listing
Regulations.

Pursuant to Section 188 of the Act read with rules made thereunder and Regulation 23 of the Listing
Regulations, all Material Related Party Transactions ("material RPTs") require prior approval of the
shareholders of the Company vide ordinary resolution.

The Company has formulated and adopted a policy on dealing with related party transactions, in line with
Regulation 23 of the Listing Regulations, which is available on the website of the Company at
www.planterspolvsacks.com

As a part of the mandate under the Listing Regulations and the terms of reference, the Audit Committee
undertakes quarterly review of related party transactions entered into by the Company with its related parties.
Pursuant to Regulation 23 of Listing Regulations and Section 177 of the Act, the Audit Committee has granted
omnibus approval in respect of transactions which are repetitive in nature, which may or may not be foreseen,
not exceeding the limits specified thereunder. The transactions under the purview of omnibus approval are
reviewed on quarterly basis by the Audit Committee. Pursuant to Regulation 23(9) of the Listing Regulations,
your Company has filed the disclosures on Related Party Transactions in prescribed format with the Stock
Exchanges.

17. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has in place adequate internal financial controls with reference to financial statement across the
organization. The same is subject to review periodically by the internal audit cell for its effectiveness. During
the financial year, such controls were tested and no reportable material weaknesses in the design or operations
were observed. The Statutory Auditors of the Company also test the effectiveness of Internal Financial Controls
in accordance with the requisite standards prescribed by ICAI. Their expressed opinion forms part of the
Independent Auditor's report.

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

Assurance on the effectiveness of internal financial controls is obtained through management reviews, control
self-assessment, continuous monitoring by functional experts. We believe that these systems provide
reasonable assurance that our internal financial controls are designed effectively and are operating as intended.

During the year, no reportable material weakness was observed.

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

Presently, your Company has been carrying the business activities whose nature does not require to take steps
for the conservation of energy. Additionally, the Company will introduce and implement several technological
upgradations, with an objective to obtain improved quality of output at a reduced cost in upcoming times, if it
requires. Further, there was neither Foreign Exchange Earning nor Foreign Exchange outgoing during the year
under review.

20. DISCLOSURES RELATING TO HOLDING / SUBSIDIARY / ASSOCIATE COMPANY AND IOINT
VENTURES:

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

21. SECRETARIAL STANDARDS:

During the year under review, the Company has complied with the applicable Secretarial Standards issued by
The Institute of Company Secretaries of India (ICSI). The Company has devised proper systems to ensure
compliance with its provisions and is in compliance with the same.

22. STATEMENT ON ANNUAL EVALUATION MADE BY THE BOARD OF DIRECTORS:

The Board evaluated the effectiveness of its functioning, that of the Committees and of individual Directors,
pursuant to the provisions of the Act and SEBI Listing Regulations. The Board sought the feedback of Directors
on various parameters including:

• Degree of fulfilment of key responsibilities towards stakeholders (by way of monitoring corporate
governance practices, participation in the long-term strategic planning, etc.);

• Structure, composition, and role clarity of the Board and Committees;

• Extent of co-ordination and cohesiveness between the Board and its Committees;

• Effectiveness of the deliberations and process management.

• Board / Committee culture and dynamics; and

• Quality of relationship between Board Members and the Management.

The above criteria are broadly based on the Guidance Note on Board Evaluation issued by the Securities and
Exchange Board of India on January 5, 2017.

The Chairman of the Board had one-on-one meetings with each Independent Director and the Chairman of NRC
had one-on-one meetings with each Executive and Non-Executive, Non-Independent Directors. These meetings
were intended to obtain Directors' inputs on effectiveness of the Board/ Committee processes.

In a separate meeting of Independent Directors, performance of Non-Independent Directors, the Board as a
whole, and the Chairman of the Company was evaluated, taking into account the views of Executive Directors
and Non-Executive Directors.

The Nomination and Remuneration Committee reviewed the performance of the individual directors and the
Board as a whole.

In the Board meeting that followed the meeting of the independent directors and the meeting of Nomination
and Remuneration Committee, the performance of the Board, its committees, and individual directors was
discussed.

The evaluation process endorsed the Board Members' confidence in the ethical standards of the Company, the
resilience of the Board and the Management in navigating the Company during challenging times, cohesiveness
amongst the Board Members, constructive relationship between the Board and the Management, and the
openness of the Management in sharing strategic information to enable Board Members to discharge their
responsibilities and fiduciary duties.

The Board carried out an annual performance evaluation of its own performance and that of its committees and
individual directors as per the formal mechanism for such evaluation adopted by the Board. The performance
evaluation of all the Directors was carried out by the Nomination and Remuneration Committee.

The performance evaluation of the Chairman, the Non-Independent Directors and the Board as a whole was
carried out by the Independent Directors. The exercise of performance evaluation was carried out through a
structured evaluation process covering various aspects of the Board functioning such as composition of the
Board & committees, experience & competencies, performance of specific duties & obligations, contribution at
the meetings and otherwise, independent judgment, governance issues etc.

Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligation and Disclosure
Requirements) Regulations, 2015, the Board has carried out the annual performance evaluation of the Directors
individually as well as evaluation of the working of the Board by way of individual feedback from directors.

The evaluation frameworks were the following key areas:

a) For Non-Executive & Independent Directors:

* Knowledge

* Professional Conduct

* Comply Secretarial Standard issued by ICSI Duties

* Role and functions

b) For Executive Directors:

* Performance as leader

* Evaluating Business Opportunity and analysis of Risk Reward Scenarios

* Key set investment goal

* Professional conduct and integrity

* Sharing of information with Board

* Adherence applicable government law

The Directors expressed their satisfaction with the evaluation process.

23. MANAGING THE RISKS OF FRAUD, CORRUPTION AND UNETHICAL BUSINESS PRACTICES:

A. VIGIL MECHANISM / WHISTLE BLOWER POLICY:

The Company has established vigil mechanism and framed whistle blower policy for Directors and employees
to report concerns about unethical Behaviour, actual or suspected fraud or violation of Company's Code of
Conduct or Ethics Policy.

B. BUSINESS CONDUCT POLICY

The Company has framed "Business Conduct Policy". Every employee is required to review and sign the policy
at the time of joining and an undertaking shall be given for adherence to the Policy. The objective of the Policy
is to conduct the business in an honest, transparent and in an ethical manner. The policy provides for anti¬
bribery and avoidance of other corruption practices by the employees of the Company.

24. PARTICULARS OF EMPLOYEES:

The provisions of Rule 5(2) & (3) of the Companies (Appointment & Remuneration of Managerial Personnel)
Rules, 2014 are not applicable to the Company as none of the Employees of the Company has received
remuneration above the limits specified in the Rule 5(2) & (3) of the Companies (Appointment & Remuneration
of Managerial Personnel) Rules, 2014 during the financial year 2024-25.

25. LOANS FROM DIRECTOR / RELATIVE OF DIRECTOR:

During the year under review, the Company has not entered into any materially significant related party
transactions which may have potential conflict with the interest of the Company at large. Suitable disclosures
as required are provided in AS-18 which is forming the part of the notes to financial statement.

26. DIRECTORS AND KEY MANAGERIAL PERSONNEL:

The Directors and Key Managerial Personnel of the Company are summarized below:

29. CORPORATE GOVERNANCE:

In terms of Regulation 34(3) read with Schedule V of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, the Corporate Governance Report and the Auditors' Certificate regarding
Compliance to Corporate Governance requirements forms part of this Annual Report as Annexure - II.

30. DEPOSITS:

As per Section 73 of the Companies Act, 2013 the Company has neither accepted nor renewed any deposits
during the financial year. Hence the Company has not defaulted in repayment of deposits or payment of interest
during the financial year.

31. FORMAL ANNUAL EVALUATION PROCESS BY BOARD:

Pursuant to the provisions of the Companies Act, 2013 and Rules made thereunder, the Board has carried the
evaluation of its own performance, performance of Individual Directors, Board Committees, including the
Chairman of the Board on the basis of attendance, contribution towards development of the Business and
various other criteria as recommended by the Nomination and Remuneration Committee of the Company. The
evaluation of the working of the Board, its committees, experience and expertise, performance of specific duties
and obligations etc. were carried out. The Directors expressed their satisfaction with the evaluation process
and outcome.

In a separate meeting of Independent Directors the performances of Executive and Non-Executive Directors
were evaluated in terms of their contribution towards the growth and development of the Company. The
achievements of the targeted goals and the achievements of the Expansion plans were too observed and
evaluated, the outcome of which was satisfactory for all the Directors of the Company.

32. SECRETARIAL AUDITOR:

The Board of Directors pursuant to Section 204 of the Companies Act, 2013 read with Rule 9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, has appointed M/s. Dharti Patel &
Associates, Practicing Company Secretaries, Ahmedabad as a Secretarial Auditor of the Company to conduct
Secretarial Audit for the Financial Year 2024-25.

The Secretarial Audit Report for the Financial Year 2024-25 is annexed herewith as Annexure III in Form MR-
3. The report of the Secretarial auditor has not made any adverse remark in their Audit Report.

33. DISCLOSURES:

a) Composition of Audit Committee:

During the year under review, meetings of members of the Audit committee as tabulated below, was
held on 28^th May 2024, 13^th August 2024, 12^th November 2024, 12^th February 2025 the attendance
records of the members of the Committee are as follows:

1) Ms. Vishaka Dipakkumar Shah has resigned from the post of member of Audit Committee w.e.f 31^st January, 2025.

2) Mr. Ish Sadan appointed as member of Audit Committee w.e.f 4^th February and has resigned w.e.f. 28^th August, 2025.

3) Ms. Nilam Makwana has resigned from the post of chairperson of Audit Committee and Ms. Meenu Jain appointed as
Chairperson of Audit Committee w.e.f 6^th June, 2025.

4) Mr. Jignesh Kumar Patel has resigned from the post of the Member of Audit Committee and Mr. Jaivikkumar Patel appointed as
Member of Audit Committee w.e.f 22 th July, 2025.

5) Ms. Geetika Garg has appointed as Member of Audit Committee w.e.f. 28^th August, 2025.

b) Composition of Nomination and Remuneration Committee:

During the year under review, meetings of the members of the Nomination and Remuneration
committee, as tabulated below, were held on 28^th May, 2024, 17^th June, 2024, 27^th June 2024 and 4^th
February 2025 the attendance records of the members of the Committee are as follows:

1) Ms. Vishaka Dipakkumar Shah has resigned from the post of member of Nomination and Remuneration Committee w.e.f 31^st
January, 2025.

2) Mr. Ish Sadana appointed as member of Nomination and Remuneration Committee w.e.f 04^th February, 2025 and has resigned
w.e.f 6^th June, 2025.

3) Ms. Nilam Makwana has resigned from the post of Chairperson of Nomination and Remuneration Committee and Ms. Meenu
Jain appointed as Chairperson of Nomination and Remuneration Committee w.e.f 6^th June, 2025.

4) Ms. Geetika Garg has appointed as Member of Nomination and Remuneration Committee w.e.f 6^th June, 2025.

5) Ms. Maya Devi has resigned from the post of Member of Nomination and Remuneration Committee and Mr. Harendrasingh
Chahuhan has appointed as Member of Nomination and Remuneration Committee w.e.f. 14^th August, 2025.

c) Composition of Stakeholders' Relationship Committee:

During the year under review, meetings of members of Stakeholders' Relationship committee as
tabulated below, were held on 28^th May, 2025 and the attendance records of the members of the
Committee are as follows:

1) Ms. Vishaka Dipakkumar Shah has resigned from the post of member of Corporate Social Responsibility w.e.f 31^st January,
2025.

2) Mr. Ish Sadan appointed as member of Corporate Social Responsibility w.e.f 04^th February, 2025 and has resigned w.e.f 28^th
August, 2025.

3) Mr. Jignesh Kumar Patel has resigned from the post of Chairperson of Corporate Social Responsibility Committee and Mr.
Jaivikkumar Patel has appointed as Chairperson of the Corporate Social Responsibility Committee w.e.f 22 ^nd July, 2025.

4) Ms. Maya Devi has resigned from the post of Member of Corporate Social Responsibility Committee and Ms. Geetika Garg has
appointed as member of Corporate Social Responsibility Committee w.e.f 14^th August, 2025.

5) Ms. Meenu Jain has appointed as Member of Corporate Social Responsibility Committee w.e.f. 28^th August, 2025.

34. DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION.
PROHIBITION & REDRESSAL) ACT. 2013:

The Company has always been committed to provide a safe and conducive work environment to its employees.
Your Directors further state that during the year under review there were no cases filed pursuant to the Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 as confirmed by the
Internal Complaints Committee as constituted by the Company.

The following no. of complaints was received under the POSH Act and the rules framed thereunder during the
year:

a. number of complaints filed during the financial year - NIL

b. number of complaints disposed of during the financial year - NIL

c. number of complaints pending as on end of the financial year - NIL

35. INDUSTRIAL RELATIONS:

The Directors are pleased to report that the relations between the employees and the management continued
to remain cordial during the year under review.

36. MAINTENANCE OF COST RECORDS:

According to information and explanation given to us, the Central Government has not prescribed maintenance
of cost records under section 148(1) of the Act in respect of activities carried out by the Company.

37. DEMATERIALISATION OF EQUITY SHARES:

As per direction of the SEBI, the shares of the Company are under compulsory demat form. The Company has
established connectivity with both the Depositories i.e., National Securities Depository Limited ("NSDL") and
Central Depository Services (India) Limited ("CDSL") and the Demat activation number allotted to the Company
is ISIN: INE293E01031. Presently shares are held in electronic and physical mode.

38. INSOLVENCY AND BANKRUPTCY CODE:

There is no application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31
of 2016) during the year.

39. POLICY ON DIRECTOR'S APPOINTMENT AND REMUNERATION:

The Remuneration policy is directed towards rewarding performance based on review of achievements on a
periodical basis. The remuneration policy is in consonance with the existing industry practice and is designed
to create a high-performance culture. It enables the Company to attract, retain and motivate employees to
achieve results. The Company has made adequate disclosures to the members on the remuneration paid to
Directors from time to time. The Company's Policy on director's appointment and remuneration including
criteria for determining qualifications, positive attributes, independence of a director and other matters
provided under Section 178 (3) of the Act is available on the website of the Company at
www.planterspolysacks.com.

40. VALUATION AMOUNT ON ONE TIME SETTLEMENT AND VALUATION WHILE AVAILING LOAN FROM
BANKS AND FINANCIAL INSTITUTIONS:

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 is not
applicable to the Company.

41. ACKNOWLEDGEMENTS:

Your Directors would like to express their sincere appreciation for the co-operation and assistance received
from the Bankers, Regulatory Bodies, Stakeholders including Financial Institutions, Suppliers, Customers and
other business associates who have extended their valuable sustained support and encouragement during the
year under review.

Your Directors take this opportunity to recognize and place on record their gratitude and appreciation for the
commitment displayed by all executives, officers and staff at all levels of the Company. We look forward for the
continued support of every stakeholder in the future.

Registered Office: By the Order of the Board of

Office No. A-828, West Bank Building, Cropster Agro Limited

Opp. City Gold Cinema, Ashram Road,

Ashram Road P.O, Ahmedabad, City
Ahmedabad, Gujarat, India, 380009

Sd/- Sd/-

Harendrasingh Chahuhan Jaivikkumar Patel

Place: Ahmedabad Director Managing Director

Date: 5^th September, 2025 DIN: 11241707 DIN: 10981461

1

Ms. Vishaka Dipakkumar Shah has Resigned from the post of Non-Executive Independent Director w.e.f 31^st January, 2025

2

Mr. Ish Sadana appointed as Non-Executive Independent Director w.e.f 4^th February, 2025 and has Resigned w.e.f. 28^th August,2025.

3

Ms. Nilam Makwana has Resigned from the post of Non-Executive Independent Director w.e.f. 6^th June,2025

4

Mr. Divyesh Bhanusali appointed as Additional Independent Director on 6^th June,2025 and has resigned from the post Independent
Director w.e.f 2 ^nd July,202 5.

5

Ms. Reetu Bansal has appointed as Company Secretary w.e.f. 27^th July, 2024 and Resigned from the post of Company Secretary w.e.f.
2^nd July, 2025

6

Mr. Jigneshkumar Patel has Resigned from the post of Managing Director w.e.f 22 ^nd July, 2025 and Mr. Jaivikkumar Patel has appointed
for the post of Managing Director w.e.f 21^st July, 2025.

7

Ms. Maya Devi has Resigned from the post of Non-Executive and Non-Independent Director w.e.f 14^th August, 2025.

8

Mr. Harendrasingh Chauhan appointed has appointed as Non-Executive Non- Independent Director w.e.f 14^th August, 2025.

9

Ms. Sejal Rakeshkumar Rathod appointed has appointed as Non-Executive Independent Director w.e.f. 14^th August,2025.

10

Mr. Pavankumar Ramsinh Verma has Appointed as Chief Financial Officer w.e.f 14^th August, 2025.

11

Mr. Mahavirsinh Pravinsinh Zala and Mr. Aashish Kumar Hemraj Maury has appointed as Non-Executive Independent Director w.e.f.
28^th August,2025.

27. DECLARATION BY INDEPENDENT DIRECTORS:

Ms. Meenu Jain, Ms. Geetika Garg, Ms. Sejal Rakeshkumar Rathod, Mr. Mahavirsinh Pravinsinh Zala and Mr.
Aashish Kumar Hemraj Maury are the Independent Directors of the Company have confirmed to the Board that
they meet the criteria of Independence as specified under Section 149 (6) of the Companies Act, 2013 and they
qualify to be Independent Directors. They have also confirmed that they meet the requirements of Independent
Director as mentioned under Regulation 16 (1)(b) of SEBI (Listing Obligation and Disclosure Requirements)
Regulations, 2015. The confirmations were noted by the Board.

28. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

Management Discussion and Analysis Report as required under Regulation 34 and Schedule V of the SEBI
(Listing Obligation and Disclosure Requirements) Regulations, 2015 forms an integral part of this Report, and
provides the Company's current working and future outlook as per Annexure I to this Report.

12

Mr. Jigneshkumar Patel has resigned from the post of Chief Financial Officer w.e.f 22^nd July, 2025.

13

Ms. Vishaka Dipakkumar Shah has resigned from the post of member of Stakeholders' Relationship Committee w.e.f 31^st
January, 2025.

14

Mr. Ish Sadana appointed as member of Stakeholders' Relationship Committee w.e.f. 04^th February, 2025 and has resigned
w.e.f 6^th June, 2025.

15

Ms. Nilam Makwana has resigned from the post of Chairperson of Stakeholders' Relationship Committee and Ms. Meenu
Jain appointed as Chairperson of Stakeholders' Relationship Committee w.e.f 6^th June, 2025.

16

Ms. Maya Devi has resigned from the post of Member of Stakeholder's Relationship Committee and Mr. Jaivik Kumar Patel
has appointed as member of Stakeholders' Relationship Committee w.e.f 14^th August, 2025.

d) Composition of Corporate Social Responsibility Committee:

During the year under review, meetings of members of Corporate Social Responsibility committee as
tabulated below, were held on 31^st January, 2025 and the attendance records of the members of the
Committee are as follows:

17

Ms. Geetika Garg has appointed as Member of Stakeholders' Relationship Committee w.e.f 6^th June, 2025.