The Board of Directors has pleasure in presenting the Twenty Ninth Annual Report along with the
Audited Accounts for the year ended on 31st March, 2025.

FINANCIAL RESULTS:

STANDALONE FINANCIAL RESULT

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

CONSOLIDATED FINANCIAL RESULTS

The consolidated performance of the group as per consolidated financial statements is as under:

STATE OF COMPANY'S AFFAIRS AND FUTURE OUTLOOK

In the financial year 2024-25, the company has maintained its ongoing business operations in the
production and trading of agricultural produce and dairy products.

All existing facilities of the company are operating effectively.

Since its inception, the company has been involved in agricultural activities, with a significant
portion of its operations focused on the cultivation of various organic vegetables, grains, cereals,
flowers, and other agricultural products. Additionally, the company successfully manages a
business in organic manure. It is also engaged in trading these products alongside other offerings.

The dairy farming sector of the company is thriving as well. The company has made substantial
efforts to improve the production and distribution of its dairy products, striving to establish direct
connections with consumers and end users.

Furthermore, the company is involved in power generation through its Bio Gas Power Plant, which
is operating successfully.

During the year under review, there is no change in the nature of the business of the company.

$

DIVIDEND

However, with the view to conserve the resources of company, the directors are not recommending
any dividend.

INCREASE IN ISSUED, SUBSCRIBED AND PAID-UP EQUITY SHARE CAPITAL

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During the year, there is no change in the share capital of the Company.

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TRANSFER TO RESERVES IN TERMS OF SECTION 134(3)(J) OF THE COMPANIES ACT,
2013

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For the financial year ended on March 31, 2025, the Company has not transferred any amount to
Balance Sheet under the head "any specific reserve".

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SECRETARIAL AUDITOR

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Pursuant to the provisions of section 204 of the Companies Act, 2013 and the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014. The Company had
appointed M/s. V AGNIHOTRI & ASSOCIATES a firm of the Company Secretaries in Practice, to
undertake the secretarial Audit of the Company.

The Secretarial Audit Report for the financial year ended on March 31, 2025, is annexed herewith
marked as Annexure-1 to this Report. The Secretarial Audit Report does not contain any
qualification, reservation or adverse remark.

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The Board at its meeting held on 29^th May, 2025 has re-appointed M/s. V AGNIHOTRI &
ASSOCIATES Practicing Company Secretaries, as Secretarial Auditor, for conducting Secretarial
Audit of the Company for a period of 05 years from the Financial Year 2025-26, subject to the

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approval of the Shareholders in ensuing Annual General Meeting. Although, Regulation 24A of the
SEBI (LODR) Regulation 2015 is not applicable on the company. Still to ensure prudent corporate
governance practices, M/s. V AGNIHOTRI & ASSOCIATES Practicing Company Secretaries, as
Secretarial Auditor is proposed to be appointed for a period of 05 Years.

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WEBLINK OF ANNUAL RETURN

The annual return as and when made, will be available at the website of the Company at

:

www.raghuvanshagro.com

NUMBER OF MEETINGS OF THE BOARD

During the year only 08 Meetings of the Board of Directors held, the intervening gap between
meetings was within the period prescribed under the Companies Act, 2013.

(b) Composition

• The Board Comprises of five directors, one of them is Managing Director.

• The office of Managing Director is held by Mr. Subodh Agarwal one of the Promoters of the
compa ny.

The office of chairman is held by Mr. Anand Kumar Mishra who is an Independent Director of
the Company.

(b) Category and Attendance of each director at the Board meetings and the last AGM.

* Mr. Neeraj Agarwal ceased to be Non-Executive Director of the company on 06.06.2025 due to
submission of resignation.

**Ms. Kavya Agarwal has been appointed as an Additional Director in the category of Non¬
Executive Director on 20.08.2025 and her appointment would be regularized in ensuing annual
general meeting, subject to the approval of the Shareholders.

ED - Executive Director

NED- Non-Executive Director

NED - I - Non-Executive - Independent Director

(c) Number of other Companies in which Director of the Company is a Director:

*Mr. Neeraj Agarwal ceased to be Non-Executive Director of the company on 06.06.2025 due to
submission of resignation.

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COMMITTEES OF THE BOARD

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There has been following constitution of the committees of the Board in accordance with the
requirements of the Companies Act, 2013 for the financial year ended on 31.03.2025. The
composition, terms of reference and other details of all Board level committees have been
elaborated in the report.

Details of the committees

During the year there is no change in the chairmen and members of the committee. However,
following below mentioned changes took place after the completion

* Mr. Neeraj Agarwal had ceased to be Non-Executive Director of the company on 06.06.2025 due
to submission of resignation.

**Ms. Kavya Agarwal has been appointed as an Additional Director in the category of Non¬
Executive Director on 20.08.2025 and her appointment would be regularized in ensuing annual
general meeting, subject to the approval of the Shareholders.

***Note.: Corporate Social Responsibility Committee

Since the amount to be spent as a CSR Expenditure is less than Rs.50.00 Lacs, as per provisions
Sub-Section(9) of Section 135 of the Companies Act, 2013 (stated hereunder), Committee
formation is not mandatory for our company. Hence, the erstwhile CSR committee had been
dissolved on 04.02.2021, presently there is no CSR Committee, all the required functions are
discharged by the Board of Directors.

Inserted by the Companies (Amendment) Act, 2020. Notification dated 28th September, 2020Amendment Effective
from 22nd January 2021

[(9) Where the amount to be spent by a company under sub-section (5) does not exceed fifty lakh rupees, the
requirement under sub-section (1) _ for constitution of the Corporate Social Responsibility Committee shall not be
applicable and the _ functions of such Committee provided under this section shall, in such cases, be discharged by
the Board of Directors of such company.]

During the year, there were three Committees of the Board, they are as follows:

• Audit Committee

• Nomination and Remuneration Committee

• Stakeholders' Relationship Committee

I. AUDIT COMMITTEE

The Audit Committee comprises of Mr. Anand Kumar Mishra (Chairman-Non Executive Independent
Director), Mr. Subodh Agarwal (Member-Executive Director), Mr. Niranjan Swaroop Goel (Member-
Independent Director). All the recommendations made by audit committee were accepted by
Boa rd.

i. Terms of Reference: The terms of reference of this Committee are wide enough covering the
matters specified under the SEBI (LODR) Regulations 2015 and the Companies Act, 2013.

ii. Composition, Name of Members and Chairperson

iii. Details of Audit Committee Meetings held during the year under review: During the year there
were 04 meetings of the Audit Committee held. The intervening gap between meetings was within
the period prescribed under the Companies Act, 2013.

Note: The Company Secretary of the Company acts as the Secretary to the Committee.

II. Nomination and Remuneration Committee

i. Terms of Reference:

The terms of reference of this Committee are wide enough covering the matters specified under the
SEBI (LODR) Regulations 2015 and the Companies Act, 2013.

ii. Composition, Name of Members and Chairperson

Note: During the year, there is no change in the constitution of Nomination and Remuneration
Committee. However, on

iii. Details of Nomination and Remuneration Committee Meetings held during the year under
review: During the year there was 01 meeting of the Nomination and Remuneration Committee
held.

iv. Remuneration Policy

Remuneration policy of the Company aims at recommending and reviewing the remuneration to
Managing Director, Non-executive Directors, Executive Directors and Key Managerial Personnel of
the Company based on evaluation criteria such as industry benchmarks, company's annual
performance & its strategy, expertise, talent and meritocracy.

Directors express their satisfaction with the evaluation process.

Details of remuneration paid to Managing Director for the year under review:

^Particulars pursuant to the provisions of Section 197(2) of the companies Act, 2013 Read with
Rule 5 of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 is
enclosed as Annexure-4

III. Stakeholders Relationship Committee

i. Terms of Reference

The terms of reference of this Committee are wide enough covering the matters specified under the
SEBI (LODR) Regulations 2015 and the Companies Act, 2013.

ii. Composition, Name of Members and Chairperson

Note: During the year, there is no change in the chairman and members of the committee.

iii. Details of Stakeholders Relationship Committee Meetings held during the year under review:
During the year there was only 01 meeting of the Stakeholders Relationship Committee held.

> The Company Secretary of the Company acts as the Secretary to the Committee.

> There was no complaint received from the shareholders during the period under review as per
the report provided by the Registrar and Transfer Agent, hence there are no pending
Complaints.

IV. CORPORATE SOCIAL RESPONSIBILITY COMMITTEE

i. Terms of Reference

The terms of reference of this Committee are wide enough covering the matters specified under the
Companies Act, 2013 and its rules i.e. The Companies (Corporate Social Responsibility Policy)
Rules, 2014.

Since the amount to be spent as a CSR Expenditure is less than Rs.50.00 Lacs, as per provisions
Sub-Section(9) of Section 135 of the Companies Act, 2013 (stated hereunder), Committee
formation is not mandatory for our company. Hence, there is no CSR Committee, all the required
functions are discharged by the Board of Directors.

Inserted by the Companies (Amendment) Act, 2020. Notification dated 28th September, 2020 Amendment Effective from 22nd January
2021

[(9) Where the amount to be spent by a company under sub-section (5) does not exceed fifty lakh rupees, the requirement under sub-section
(1) for constitution of the Corporate Social Responsibility Committee shall not be applicable and the functions of such Committee provided
under this section shall, in such cases, be discharged by the Board of Directors of such company.]

PARTICULARS OF LOAN, GUARANTEES AND INVESTMENTS UNDER SECTION 186

Details of Loans and Investments covered under provision of section 186 of the Companies Act,
2013 are stated in the notes of financial statements.

RELATED PARTY TRANSACTION

All Related Party Transactions (RPT) that were entered into during the financial year, if any, were
on an arm's length basis and in the ordinary course of business and do not have potential conflicts
with the Company.

Information on transactions with related parties pursuant to section 134(3)(h) of the Act read with
rule 8(2) of the Companies (Accounts) Rules, 2014 are given in Annexure-2 in Form AOC-2 and
the same forms part of this report.

SUBSIDIARY

There are two subsidiaries of Raghuvansh Agrofarms Limited:

1. Sanjeevani Fertilizers and Chemicals Private Limited(SFCPL)

Sanjeevani Fertilizers and Chemicals Pvt. Ltd. is an unlisted subsidiary of the Raghuvansh
Agrofarms Limited which holds 51.00% of the total equity share capital of the SFCPL. SFCPL is
primarily engaged in cultivation of fruits. Sanjeevani has orchards of Pomegranate, Guava and
Banana etc. The Orchards of SFCPL span across 1.888 hectares of farm land located at Village Gaur
Pathak, Tehsil Pokhrayan, District Ramabai Nagar (Old Kanpur Dehat). The said farm land is owned
by SFCPL. The gross revenue of the company stood at Rs.1,19,59,259/- (previous year Rs.
76,74,734/-). Profit after Tax stood Rs.48,60,998/- (Previous year Rs. 33,06,625/-).

2. Kanpur Organics Private Limited (KOPL)

Kanpur Organics Private Limited is an unlisted subsidiary of the Raghuvansh Agrofarms Limited as
it holds 94.78% of total equity Shares of the Kanpur Organics Private Limited. KOPL is primarily
engaged in the production of Organic Manure. The gross revenue of the company stood at
Rs.3,66,57,618/-[Previous year Rs.5,00,94,959/-]. Profit after Tax Rs.81,60,739/- (Previous year
Rs.60,29,039/-).

The details of financial performance of Subsidiaries are furnished in Annexure-3 and attached to
this report.

RISK MANAGEMENT

Adverse weather conditions, future climate changes, increases in labor, personnel and benefit
costs, Global Pandemic may adversely affect our business operations, as well as our operating
results.

To mitigate such risk the management is always vigilant to overcome the aforesaid problem by
applying appropriate technology, employing deserving executives, proper reporting and recording
of data, timely evaluation and best decisions making.

CHANGE IN DIRECTORS AND KEY MANAGERIAL PERSONNEL

During the financial year 2024-25, Mr. Subodh Agarwal bearing DIN: 00122844 had been re¬
appointed as Managing Director of the Company for a period of 05 years on 05.08.2024 by Board
of Directors which was later approved by the Shareholders in Annual General Meeting held on
21.09.2024.

In accordance with the provisions of the Act and the Articles of Association of the Company, Ms.
Renu Agarwal, Executive Director of the Company, retires by rotation at the ensuing Annual
General Meeting and being eligible has offered herself for re-appointment, apart from her, there is
one Managing Director and three Directors are Non-Executive (Including Two Independent
Directors).

However, on 06.06.2025 Mr. Neeraj Agarwal had ceased to be Non-Executive Director of the
Company. Ms. Kavya Agarwal has been appointed as an Additional Director in the category of Non¬
Executive Director on 20.08.2025 and her appointment would be regularized in ensuing annual
general meeting, subject to the approval of the Shareholders.

Except as above there was no change has taken place in the position of Directors and KMPs held by
them in the Financial Year 2024-25.

INTERNAL FINANCIAL CONTROLS

The Company has in place adequate internal financial controls with reference to financial
statements. During the Year, such controls were tested and no reportable material weaknesses in
the design or operation were observed.

PUBLIC DEPOSITS

As on March 31, 2025, there are no public deposits. There are no deposits that remain unclaimed.
The company has not renewed/ accepted fixed deposits and therefore, there is no information
required to be furnished in respect of outstanding deposits.

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 and Regulation 16(1)(b) of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015.

Based on the confirmation / disclosures received from the Directors and on evaluation of the
relationships disclosed, the following Non-Executive Directors are Independent in terms of
regulation 16(1)(b) of the SEBI (LODR) Regulations, 2015 and Section 149(6) of the Companies
Act, 2013 :-

• Mr. Anand Kumar Mishra

• Mr. Niranjan Swaroop Goel

And pursuant to the Companies (Appointment And Qualification of Directors) Rules, 2019 all the
Independent Directors of the Company have registered themselves with Independent Director's
Data Bank.

BOARD EVALUATION

In accordance with the stipulations set forth in the Companies Act, 2013, as well as the Listing
Regulations and any other relevant rules and regulations, a distinct assessment was conducted to
appraise the performance of each Director, including the Chairman of the Board. This evaluation
was based on various criteria, including the degree of engagement and contribution, independence
of judgment, and the protection of the Company's interests. The performance evaluation of the
Independent Directors was undertaken by the entire Board.

The Independent Directors conducted the performance assessment of the Non-Independent
Directors. The Directors conveyed their approval of the evaluation process.

COMPANY'S POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION

The Company's policy regarding the appointment and remuneration of Directors, which
encompasses the criteria for assessing qualifications, desirable attributes, independence of a
Director, and other relevant matters, is in accordance with the provisions outlined in the
Companies Act 2013 and the applicable regulations set forth by SEBI (LODR) Regulations 2015.

VIGIL MECHANISM/WHISTLE BLOWER POLICY

The Company has developed a Whistle Blower Policy aimed at creating a vigilant mechanism for its
Directors and employees to report any concerns regarding unethical conduct, actual or suspected
fraud, or breaches of the company's code of conduct or ethics policy. This Whistle Blower Policy can
be accessed on the Company's website.

DETAILS IN RESPECT OF FRAUD

During the year under review, the Statutory Auditor in their report have not reported any instances
of frauds committed in the Company by its Officers or Employees under section 143(12) of the
Companies Act, 2013.

PARTICULARS OF EMPLOYEES

The particulars as required to Section 197 read with rule 5 of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 are provided in this report as an Annexure-4
and none of the employee is drawing remuneration of Rs.8,50,000/- or more per month if
employed for a part of the year or Rs. 1,02,00,000/- if employed throughout the period.

CORPORATE SOCIAL RESPONSIBILITY

The Erstwhile Corporate Social Responsibility ("CSR") Committee of the Board had formulated and
recommended to the Board a CSR Policy indicating cSr Activities which could be undertaken by the
Company. Board had adopted the same and continuing it.

Note.: Corporate Social Responsibility Committee

Since the amount to be spent as a CSR Expenditure is less than Rs.50.00 Lacs, as per provisions
Sub-Section(9) of Section 135 of the Companies Act, 2013 (stated hereunder), Committee
formation is not mandatory for our company. Hence, the erstwhile CSR committee had been
dissolved on 04.02.2021, presently there is no CSR Committee, all the required functions are
discharged by the Board of Directors.

Inserted by the Companies (Amendment) Act, 2020. Notification dated 28th September, 2020Amendment Effective
from 22nd January 2021

[(9) Where the amount to be spent by a company under sub-section (5) does not exceed fifty lakh rupees, the
requirement under sub-section (1) for constitution of the Corporate Social Responsibility Committee shall not be
applicable and the _ functions of such Committee provided under this section shall, in such cases, be discharged by
the Board of Directors of such company.]

The Company has identified focus areas for CSR Initiatives which includes:

1. Eradicating hunger, poverty and malnutrition

During the year under review, your company deployed more than 2% of its average net profits
(computed as per the relevant provisions of the Companies Act, 2013) of the Preceding years on
CSR Projects, fully utilizing the required amount.

The CSR Report on activities in accordance with the Companies (Corporate Social Responsibility
Policy) Rules, 2014 is attached as Annexure-5 to this report.

AUDITORS' REPORT

The Notes on financial statement referred to in the Auditors' Report are self-explanatory and do not
call for any further comments. The Auditors' Report which is annexed hereto and forms part of the
Annual Report does not contain any qualification, reservation or adverse remark.

STATUTORY AUDITORS

M/s. KAMAL GUPTA ASSOCIATES (Firm Reg. No.: 000752C) had been re-appointed as Statutory
Auditors of the Company for a period of five years from the conclusion of 27^th Annual General
Meeting held on 24.09.2023 till the conclusion of 32^nd Annual General Meeting by the Shareholders
of the company. The Statutory Audit for the F.Y. 2024-25 done by M/s. KAMAL GUPTA
ASSOCIATES, Chartered Accountants.

CORPORATE GOVERNANCE

As per regulation 15(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015

(2) The compliance with the corporate governance provisions as specified in regulations 17, [17A,] 18, 19, 20,
21,22, 23, 24, [24A,] 25, 26, 27 and clauses (b) to (i) 61[and (t)] of sub-regulation (2) of regulation 46 and para C,
D and E of Schedule V shall not apply, in respect of -

(a) 62[a] listed entity having paid up equity share capital not exceeding rupees ten crore and net worth not
exceeding rupees twenty five crore, as on the last day of the previous financial year:

63[Provided that where the provisions of regulations 17 to 27, clauses (b) to (i) and (t) of sub-regulation (2) of
regulation 46 and para C, D and E of Schedule V become applicable to a listed entity at a later date, it shall
ensure compliance with the same within six months from such date:]

64[Provided further that once the above regulations become applicable to a listed entity, they shall continue to
remain applicable till such time the equity share capital or the net-worth of such entity reduces and remains below
the specified threshold for a period of three consecutive financial years.]

(b) 65[a] listed entity which has listed its specified securities on the SME Exchange:

66[Provided that for other listed entities which are not companies, but body corporate or are
subject to regulations under other statues, the provisions of corporate governance provisions as
specified in regulation 17, [17A,] 18, 19, 20, 21, 22, 23, 24, [24A,] 25, 26, [26A] 27 and clauses
(b) to (i) of sub-regulation (2) of regulation 46 and para C , D and E of Schedule V shall apply to
the extent that it does not violate their respective statutes and guidelines or directives issued by
the relevant authorities.]

Hence, your company is exempted to comply with aforesaid provisions of the SEBI (LODR)
Regulation, 2015

SEXUAL HARASSMENT OF WOMEN AT WORK PLACE (PREVENTION, PROHIBITION AND
REDRESSAL ACT, 2013

There were no complaints received during the financial year 2024-25 and hence no complaint is
outstanding as on 31.03.2025 for redressal. Further Company ensures that there is a healthy and
safe atmosphere for every women employee at the workplace and made the necessary policies for
safe and secure environment for women employee.

Number of Complaints under the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013

CONSOLIDATED FINANCIAL STATEMENTS

In accordance with the Accounting Standard AS-21 on Consolidated Financial Statements read with
Regulation 33 of the SEBI (LODR) Regulations, 2015 the Consolidated Audited Financial Statements
and Consolidated Cash Flow Statement for the year ended on March 31, 2025 are provided in the
Annual Report.

A statement containing the salient features of the financial statements of each of the subsidiaries in
the prescribed Form AOC-1 are annexed (Annexure-3).

MATERIAL CHANGES SUBSEQUENT TO THE CLOSE OF THE YEAR

No such change or events occurred which effects the Financial Position of the Company.

COMPLIANCE WITH SECRETARIAL STANDARD

The Company has Complied with the applicable Secretarial Standards (as amended from time to
time) on meetings of the Board of Directors and Meeting of Shareholders i.e. SS-1 and SS-2 issued
by The Institute of Company Secretaries of India and approved by Central Government under
section 118(10) of the Companies Act, 2013.

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

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During the year under review, there has been no such significant and material orders passed by
the regulators or courts or tribunals impacting the going concern status and company's operations
in future.

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COST RECORD

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As per section 148 of the Companies Act, 2013, read with the Companies (Cost Records and Audit)
Rules, 2014, your Company is not required to maintain cost records.

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DIFFERENCE IN VALUATION

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The Company has not made any one-time settlement for loans taken from the Banks or Financial
Institutions, and hence 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.

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MATERNITY BENEFIT

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The Company affirms that it has duly complied with all provisions of the Maternity Benefit Act,
1961.

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BUSINESS RESPONSIBILITY REPORT

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The Company was voluntarily disclosing Business Responsibility and Sustainability Report (BRSR) in
earlier year; however, since the Company does not fall under the top 1000 listed entities by market
capitalization as on March 31, 2025, BRSR disclosures are not applicable for FY 2024-25. The
Company continues to pursue responsible business practices and sustainability initiatives
voluntarily.

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

The Company had ventured into the field of renewable energy. The Company has been successfully
running a Bio Gas Power Plant on pilot basis at its Kapli Farms. The said plant has been operational
for a period of more than 6 years. Apart from that, the Company has commissioned 1000 M3
capacity Bio Gas Plant for Power Generation at the factory premises of its subsidiary, Sanjeevani
Fertilizers and Chemicals Private Limited and has entered into Memorandum of Understanding.

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There was no foreign exchange inflow or Outflow during the year under review.

DIRECTORS' RESPONSIBILITY STATEMENT

Your Directors hereby confirm that:

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i. In the preparation of the annual accounts for financial year ended on March 31, 2025, the
applicable accounting standards have been followed.

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ii. The Directors have selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true and fair view of the
state of affairs of the Company at March 31, 2025 and of the profit of the Company for the year
ended on that date.

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

iv. The Directors have prepared the annual accounts for financial year ended on March 31, 2025 on
a 'going concern' basis.

v. The directors had laid down internal financial controls to be followed by the company and that
such internal financial controls are adequate and were operating effectively.

vi. 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.

OTHER DETAILS

The company has adopted number of codes and policies to comply with the provisions of various
applicable rules, regulations and act and uploaded the same on the website of the company if
required by the concerned law.

DETAILS OF APPLICATION MADE OR PROCEEDING PENDING UNDER INSOLVENCY AND
BANKRUPTCY CODE 2016

During the year under review, there were no applications made or proceedings pending in the
name of the Company under the Insolvency and Bankruptcy Code, 2016.

DETAILS OF DIFFERENCE BETWEEN THE AMOUNTS 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 REASON THEREOF

During the year under review, there has been no one time settlement of Loans taken from Banks
and Financial Institution.

ACKNOWLEDGEMENT

We thank our customers, business associates, bankers, government authorities and other
stakeholders for their continued support during the year.

We wish to convey our deep appreciation to the suppliers/vendors for their valuable support. We
also place on record our sincere appreciation for the enthusiasm and commitment of Company's
employees for the growth of the Company and look forward to their continued involvement and
support.

Place: Kanpur By order of the Board of Directors

Date: 20.08.2025 For Raghuvansh Agrofarms Limited

(Subodh Agarwal) (Renu Agarwal)

Managing Director Director

DIN: 00122844 DIN: 0176795