The Board of Directors hereby submits the report of the business and operation of your Company (Has Lifestyle
Limited) along with the audited financial statement, for the financial year ended March 31^st, 2024.

RESULTS OF OUR OPERATIONS (Amount in Rs.)

BUSINESS PERFORMANCE/STATE OF COMPANY'S AFFAIR:

The Company has profit of Rs. 2,77,71,257/- during the year as compared to profit of Rs. 1,64,76,119/- previous year.
The Net Sales from operation of Rs. 12,72,40,749/- during the year as compared to Rs. 11,71,64,834/- previous year.
Percentage wise there has been increase of 8.60% in net sales from operation as compared to previous year.

FUTURE OUTLOOK.

It is expected that with the improvement in the economy & with the efforts made by the Company management, the
Company will be able to increase its revenue in the current year.

DIVIDEND.

No dividend was declared for the current financial year due to loss incurred by the company.

TRANSFER TO RESERVES.

During the year under review, Company had not transferred any amount to the General Reserves.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

As required under Regulation 34 of the (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
entered with Stock Exchanges, the Management Discussion and Analysis Report is enclosed as a part of this report.

DISCLOSURE IN COMPLIANCE WITH THE ACCOUNTING STANDARD ON "RELATED PARTY DISCLOSURES”:

As required under Regulation 34 of the (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
with Stock Exchanges, the disclosure in compliance with the accounting standard on "related party disclosures are
enclosed as a part of this report.

HOLDING, SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES:

> Your Company has the following Company as its Holding Company at the year end.

> Your Company does not have any subsidiary Companies/Associates and Joint Venture Company at the year end.
CORPORATE GOVERNANCE AND SHAREHOLDERS INFORMATION:

Your Company has taken adequate steps to adhere to all the stipulations laid down in Regulation 34(3) read with
Schedule V of the (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015. As per regulation
15 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 provisions as specified in regulation 27
shall not apply to your Company. As there is no requirement to attach the corporate governance report. Your Company
has also been enlisted in the new SEBI compliant redressal system (SCORES) enabling the investors to register their
complaints if any for speedy redressal.

LISTING WITH STOCK EXCHANGE:

The Equity Shares of the Company continues to be listed at Small and Medium Enterprise platform of Bombay Stock
Exchange (BSE). The scrip code number of the Equity shares of the Company on BSE is 780014. The Company confirms
that it has paid the Annual Listing Fees for the year 2023-2024 to Small and Medium Enterprise platform of Bombay
Stock Exchange (BSE)where the Company's Shares are listed.

SIGNIFICANT/MATERIAL ORDERS PASSED BY THE REGULATORS.

There are no significant/material orders passed by the Regulators or Courts or Tribunals impacting the going concern
status of your Company and its operations in future.

PUBLIC DEPOSITS.

The Company has neither accepted nor renewed any deposits from public within the meaning of Section 73 of the
Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014 during the year.

INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY.

The Board has adopted policies and procedures for ensuring the orderly and efficient conduct of its business, including
adherence to the Company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors,
the accuracy and completeness of the accounting records, and the timely preparation of reliable financial disclosures.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:
i) Changes in Board and Key Managerial Personnel:

• Mr. Hemang Manoj Bhatt (DIN: 01353668) was re- appointed as Managing Director of the Company with effect
from 26^th June 2024, subject to approval of members at the ensuing General Meeting.

• Mr. Kapil Agarwal (DIN: 06916751) resigned as Independent Director of the Company with effect 05^th July 2024.

• Mr. Kamlesh Kharade (DIN: 03589665) resigned as Independent Director of the Company with effect 28^th August
2024

• Mr. Ravi Gupta (DIN: 03175416) was appointed as Independent Director of the Company with effect from 05th
July 2024, subject to approval of members at the ensuing General Meeting.

• Mr. Sagar Shah (DIN: 10727721) was appointed as Independent Director of the Company with effect from 28th
August 2024, subject to approval of members at the ensuing General Meeting.

As per the provisions Section 152 of the Companies Act 2013, Mrs. Niru Kanodia, retires by rotation at the ensuing
Annual General Meeting and being eligible, seeks re-appointment. The Board recommends her re-appointment.

DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to Section 134(3) (c) of the Companies Act, 2013, Directors of your Company hereby state and confirm that:

• In the preparation of the Annual Accounts for the year ended March 31st, 2024, the applicable Accounting
Standards, have been followed and there are no material departures from the same.

• the Directors have 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
as at March 31st, 2024 and of the loss of the Company for the year ended on that date;

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

• the Directors have prepared the annual accounts on a 'going concern' basis.

• the Directors have laid down internal financial controls to be followed by the Company and that such internal
financial controls are adequate and are operating effectively; and

• the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and
that such systems are adequate and operating effectively.

Based on the framework of internal financial controls and compliance systems established and maintained by the
Company, the work performed by the internal, statutory and secretarial auditors and external consultants, including
the audit of internal financial controls over financial reporting by the statutory auditors and the reviews performed by
management and the relevant board committees, including the audit committee, the Board is of the opinion that the
Company's internal financial controls were adequate and effective during Financial Year 2023-2024.

SECRETARIAL STANDARDS

The company has complied with the applicable secretarial standards as issued by the Institute of Company Secretaries
of India on Board Meetings and General Meetings.

STATUTORY AUDITORS, THEIR REPORT AND NOTES TO FINANCIAL STATEMENTS.

Pursuant to the provisions of Section 139(8) and other applicable provisions, if any, of the Companies Act, 2013, as
recommended by the Audit Committee and Board of Directors of the Company, M/s Sachin Phadke & Associates
Chartered Accountant (Firm Registration no. 133898W), be and are hereby appointed as Statutory Auditors of the
Company to fill the casual vacancy caused by the resignation of M/s Kantilal Jain & Co., Chartered Accountants (Firm
Registration no. 104793W),. M/s Sachin Phadke & Associates Chartered Accountant (Firm Registration no. 133898W,
be and are hereby appointed as Statutory Auditors of the Company and hold office for a period of five years from the
conclusion of this Annual General Meeting of the Company on such remuneration and reimbursement of out-of-pocket
expenses as may be mutually agreed between the Auditors and the Board.

During the year, the statutory auditors have confirmed that they satisfy the independence criteria provided under
Section 141 of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014, and the Code of
Ethics issued by the Institute of Chartered Accountants of India.

The Auditors' Report for the financial year 2023-2024 does not contain any qualification, reservation or adverse
remark.

INTERNAL AUDIT:

As per the provisions of Section 138 of the Companies Act, 2013 and rules made thereunder, M/s. S. Rajesh & Co.,
Chartered Accountants (Membership No. 019372) has been appointed as Internal Auditor of the company for the year
2023-2024.

SECRETARIAL AUDITOR & SECRETARIAL AUDIT REPORT:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, Your Company has appointed CS Divya Mohta (Practicing

Company Secretary) bearing Membership no 47040 and Certificate of Practice no 17217. Practicing Company
Secretaries, to conduct the Secretarial Audit of the Company for the financial year ended 31^st March 2024. The
Secretarial Audit Report (Form MR-3) for the financial year 2023-2024, part of the Annual Report as "Annexure [B]"
to the Board's Report.

The Secretarial Audit Report contains no qualification, reservation or adverse remark regarding noncompliance under
Companies Act, 2013

SHARE CAPITAL:

a) Authorised Capital: There has been no change in the Authorised Capital of the Company during the year.

b) Issued/Subscribed/Paid Up: There has been no change in the Issued /Subscribed/Paid Up Capital of the Company
during the year.

c) Bonus Shares: No bonus shares were issued during the financial year.

d) Issue of equity shares with differential rights: There were no shares issued with differential rights during the
financial year 2023-2024.

e) Issue of sweat equity shares: No sweat equity shares were issued during the financial year 2023-2024.

f) Issue of employee stock options: No employee stock option was given or issued during the financial year 2023-2024.

g) Provision of money by company for purchase of its own shares by employees or by trustees for the benefit of
employees: There was no provision made of the money by the company for purchase of its own shares by employees
or by trustees for the benefit of employees or by trustees for the benefit of employees.

EXTRACT OF ANNUAL RETURN (FORM MGT-9);

In accordance with Section 134(3)(a) of the Companies Act, 2013, an extract of the Annual Return (Form MGT-9) in
the prescribed format is appended as "Annexure [A]" to the Board's report. It shall be also available at the Website
of the Company under Extract of Annual Return and the web-link of the same is http://hasjuices.com/ under
investor's relations/ Extract of Annual Return.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH THE RELATED PARTIES.

Particulars of contracts or arrangements made with related parties referred to in Section 188(1) of the Companies Act,
2013, in the prescribed Form AOC-2, is appended as "Annexure [C]" to the Board's Report.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS.

The Particulars of Loans, Guarantees and Investment have been disclosed in the notes to the financial statements.

DISCLOSURE RELATING TO REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL AND PARTICULARS OF
EMPLOYEES.

Details of the ratio of the remuneration of each Director to the median remuneration of the employees and other
details as required pursuant to Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014 is appended as "Annexure [D]"

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO.

(A) Conservation of energy:

Considering the nature of business activities carried out by the Company, your directors have nothing to report with
regard to conservation of energy as required under the Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988.

(B) Technology absorption:

The management keeps itself abreast of the technological advancements in the industry and has adopted the state-
of-the-art transaction, billing and accounting systems and also risk management solutions.

(C) Foreign exchange earnings and Outgo:

a) The foreign exchange earnings - Nil (previous year Nil).

b) The foreign exchange expenditure - Nil (previous year Nil).

CORPORATE SOCIAL RESPONSIBILITY (CSR);

Since the CSR norms are not applicable to the Company hence, the disclosures as per Rule 9 of Companies (Corporate
Social Responsibility Policy) Rules, 2014 is not required to be made.

COMPOSITION OF THE BOARD.

DECLARATION BY INDEPENDENT DIRECTORS.

The Company has received necessary declaration from each Independent Director under Section 149(7) of the
Companies Act, 2013, that they meet the criteria of independence laid down in Section 149(6) of the Companies Act,
2013.

DETAILS OF BOARD MEETINGS.

The Board met Thirteen (13) times during the financial year, the details of which are given below. The maximum
interval between any two meetings did not exceed 120 days, as prescribed in the Companies Act, 2013.

COMMITTEES OF THE BOARD.

Currently, the Board has two committees: The Audit Committee, the Nomination and Remuneration Committee. All
committees consisted of two Independent Directors and one Non-Executive Director.

B) Nomination and Remuneration Committee

MEETINGS OF COMMITTEES:

Audit Committee:

The Committee met 02 times during the financial year, the details of which are given below.

Nomination and Remuneration Committee:

The Committee met 02 times during the financial year, the details of which are given below.

Independent Director Meeting:

The Independent Director met 01 times during the financial year, the details of which are given below.

REMUNERATION POLICY:

The Board had adopted 'HAS Lifestyle Limited' - Nomination and Remuneration Policy' in compliance with Section 178
of the Act and Regulation 19(4) read with Part D of Schedule II to the SEBI LODR Regulations, for identification, selection
and appointment of Directors, Key Managerial Personnel and Senior Management of your Company. The policy lays
down the process and parameters for the appointment and remuneration including recommendation on remuneration
of the key managerial personnel and other senior management and the criteria for determining qualifications, positive
attributes and independence of a director. This Policy is uploaded on the Investor Relations section of the website of
your Company at http://hasjuices.com/ under investors/Corporate Governance/Remuneration policy.

VIGIL MECHANISM/WHISTLE BLOWER POLICY:

In pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013, a Vigil Mechanism for Directors and
employees to report genuine concerns has been established.

The purpose of the "Whistle blower Policy" is to allow employees to raise concerns about unacceptable, improper or
unethical practices being followed in the organization. They will be protected against any adverse action and/or
discrimination as a result of such a reporting, provided it is justified and made in good faith. The Chairman of the Audit
Committee has been designated for the purpose of receiving and recording any complaints under this policy.

The Vigil Mechanism Policy has been uploaded on the website of the Company at http://hasjuices.com/ under
investors/ Corporate Governance/Vigil Mechanism.

DISCLOSURE ON SEXUAL HARASSMENT OF WOMEN AT WORKPLACE:

As required by the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013. The
Company has formulated and implemented a policy on prevention of sexual harassment at workplace. During the year
under review, no complaints were reported to the Board. This Policy was considered, approved and adopted by the
Board under investors/policies/prevention of Sexual Harassment at workplace. This Policy is uploaded on the Investor
Relations section of the website of your Company at http://hasjuices.com/ under investors/ Corporate Governance.

RISK MANAGEMENT:

Your Board of Directors has not formulated & adopted Risk Management Policy required under the provisions and
guidelines of SEBI and as such said provisions not applicable to the Company.

BOARD EVALUATION:

Pursuant to the provisions of the Companies Act, 2013 and applicable provision of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, a structured questionnaire was prepared as per the requirement of the
act which included various aspects of Boards and Committees functioning, Composition of the Board and its
Committees, functioning of the Individual directors. The aspects covered in the evaluation included the contribution
to and monitoring of corporate governance practices and the fulfilment of Directors' obligations and fiduciary
responsibilities, including but not limited to, active participation at the Board and Committee meetings. Further, the
Independent Directors at their meeting, reviewed the performance of Board, Chairman of the Board and of Non¬
Executive Directors. The Board expressed their satisfaction with the evaluation process.

COST AUDIT:

As per the Cost Audit Orders, Cost Audit is not applicable to the Company for the FY 2023-2024.

MATERIAL CHANGES:

There were no material changes and commitments affecting the financial position of the company, which have
occurred between the end of the financial year of the company to which this report relates and the date of the report
except as otherwise mentioned in this director report, if any. There had been no changes in the nature of company's
business. To the best of information and assessment there has been no material changes occurred during the financial
year generally in the classes of business in which the company has an interest except as otherwise mentioned in this
director report, if any.

CORPORATE GOVERNANCE:

As per regulation 15 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 provisions as specified
in regulation 27 shall not apply to your Company. As there is no requirement to attach the corporate governance
report.

CODE OF CONDUCT FOR THE PREVENTION OF INSIDER TRADING:

The Board of Directors has adopted the Insider Trading Policy in accordance with the requirements of the SEBI
(Prohibition of Insider Trading) Regulation, 2015.The Insider Trading Policy of the Company lays down guidelines and
procedures to be followed, and disclosures to be made while dealing with shares of the Company, as well as the
consequences of violation. The policy has been formulated to regulate, monitor and ensure reporting of deals by
employees and to maintain the highest ethical standards of dealing in Company securities.

DETAILS OF FRAUD REPORTED BY AUDITORS:

There were no frauds reported by the Statutory Auditors under provisions of Section 143(12) of the Companies Act,
2013 and rules made thereunder.

POLICIES:

We seek to promote and follow the highest level of ethical standards in all our business transactions guided by our
value system. The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 mandated the formulation
of certain policies for all listed companies. The policies are reviewed periodically by the Board and updated based on

need and new compliance requirement. In addition to its Code of Conduct and Ethics, key policies that have been
adopted by the Company are as follows:

ACKNOWLEDGEMENTS:

Your directors wish to express their profound gratitude for the exceptional levels of professionalism, unwavering
commitment, and dedicated efforts exhibited by employees across all tiers of the organization. The remarkable
dedication displayed by our workforce serves as a driving force behind our achievements and growth.

Additionally, we extend our heartfelt appreciation to the regulatory authorities that have been instrumental in shaping
our journey. The Securities and Exchange Board of India (SEBI), SME BSE Limited (BSE), Registrar of Companies (ROC),
the Income Tax Department, the Reserve Bank of India, the State Governments, and various other government
agencies have played pivotal roles in our operational landscape. Their support, guidance, and collaborative spirit have
significantly contributed to our successes.

Furthermore, our heartfelt thanks extend to the National Securities Depository Limited (NSDL) and Central Depository
Services (India) Limited (CDSL) for their partnership, as well as our shareholders whose unwavering trust and
confidence fuel our determination to excel.

As we move forward, we remain steadfast in our commitment to uphold the highest standards of excellence, integrity,
and transparency in all our endeavours. With the ongoing support of our stakeholders and partners, we are poised to
conquer new horizons and achieve even greater milestones.

By order of the Board

For Has Lifestyle Limited

Sd/- Sd/-

Hemang Bhatt Niru Kanodia

Managing Director Director

(DIN:01353668) (DIN: 02651444)

Place: Mumbai
Date: 28.08.2024