Your directors take pleasure in presenting the 46^th Annual Report on the business and operations of your Company together with
Audited Financial Statements for the financial year ended March 31, 2026.

1. FINANCIAL RESULTS:

The financial performance of your Company is as summarized below for the financial year under review:

2. PERFORMANCE HIGHLIGHTS AND STATE OF COMPANY’S AFFAIRS:

During the financial year under review, total Income decreased from ' 1,60,162 lakhs to ' 1,56,751 lakhs, a decrease of 2%. Profit
before tax for the financial year was ' 24,347 lakhs compared to ' 24,864 lakhs of the previous financial year (decrease of 2%)
and Profit after tax was ' 18,000 lakhs as against ' 18,611 lakhs of the previous financial year (decrease of 3%). Your Directors do
not propose to transfer any amount to the Reserves for the financial year ended March 31, 2026. Further, details of operations are
given in the Management Discussion and Analysis Report annexed herewith as “Annexure 1”. There has been no change in the
nature of business of the Company.

3. DIVIDENDS:

The Board is pleased to recommend for your approval a dividend of ' 10/- (500%) per equity share on the face value of ' 2/- each
for the financial year ended March 31, 2026 [Previous Year: Dividend of ' 10/- (500%) per equity share of ' 2/- each]. You are
requested to approve the same. The dividend, if declared, shall be payable subject to deduction of tax at source, as applicable.

The dividend has been declared in line with the Dividend Distribution Policy which is framed in terms of the regulations of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, (SEBI Listing Regulations). The Dividend
Distribution Policy is available on the website of the Company at https://alkylamines.com/wp-content/uploads/2022/03/Dividend-
Distribution-Policv-1.pdf

4. SHARE CAPITAL:

During the financial year, the Company’s paid up share capital increased from ' 10,22,72,836/- consisting of 5,11,36,418 equity
shares of ' 2/- each to ' 10,22,88,104/- consisting of 5,11,44,052 equity shares of ' 2/- each.

5. SUB-DIVISION OF FACE VALUE OF EQUITY SHARES:

The Members had approved the sub-division of face value of equity shares from ' 5/- each fully paid-up into ' 2/- each fully paid
up through Postal Ballot, on March 17, 2021. The record date for the aforesaid sub-division was May 12, 2021. Accordingly, the
face value of equity shares of the Company stands sub-divided from ' 5/- each into ' 2/- each fully paid up. The shareholders
were issued fresh shares of face value of ' 2/- each.

6. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

The Management Discussion and Analysis Report as required under Schedule V of SEBI Listing Regulations is included in this
Annual Report and the same is annexed herewith as “Annexure 1”

7. NEW PROJECTS:

Our new Projects include:

- At Dahej, specialty chemical project under execution and expected commissioning by early Q2 - FY 2026-27.

- Some capex projects for upgrading the equipment and expansion of capacities, at all three production sites.

8. SUBSIDIARY/ASSOCIATE COMPANIES:

The company does not have any subsidiary, associate or joint venture company.

9. RESPONSIBLE CARE®:

Responsible Care is a voluntary initiative of International Council of Chemical Associations, implemented in India by Indian
Chemical Council to safely handle the products from inception in the research laboratory, through manufacture and distribution,
to ultimate reuse, recycle and disposal, and to involve the public in the decision-making processes. We have got our Company
recertified for Responsible Care® in October 2023. The recertification is valid till October 2026. Several programs and studies
related to safety, environment and health have been taken up and are being implemented.

Your Company continues to participate in developing Product Safety and Stewardship and Product distribution code as a part
of initiative taken by Indian Chemical Council (ICC) along with other chemical companies. The objective was to update codes
after rigorous implementation of the Responsible Care program and findings of audits.

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

The information on conservation of energy, technology absorption and other details stipulated under Section 134(3)(m) of the
Companies Act, 2013 read with Rule 8 of The Companies (Accounts) Rules, 2014, is annexed herewith as “Annexure 2”.

11. SAFETY, HEALTH AND ENVIRONMENT:

A. SAFETY:

We foster a high level of safety awareness among our employees and consistently strive for continuous improvement. To
further this goal, we have initiated an exhaustive review of standard operating procedures and conducted HAZOP studies
with external consultants. We have launched an extensive program to Transform Safety Culture across the organization.
As a key structural driver, we have formed 6 Cross-Functional Teams (CFTs)—focusing on Standards, Contractor Safety,
Behaviour Intervention, Process Safety, Incident Investigation, and Competence—with 2 review meetings already held to
track their progress. In April 2026, we implemented a digital transformation platform for ESG-EHS core pillar governance.
For the continuous monitoring of unsafe acts, we have utilized our existing cameras with AI enabled at our Kurkumbh site.

Our commitment extends to the community through active participation in Mutual Aid schemes within our industrial
areas. We have intensively trained our Emergency Response Team (ERT) to handle both industrial and natural eventualities
for onsite and offsite emergencies. As a leading member of the Local and District Crisis Groups, we have earned a strong
reputation among statutory authorities and neighbouring societies for our prompt support during disaster management
events. To maintain peak readiness, we conduct scheduled mock drills, truncated exercises, and table top simulations.
Identified gaps are closed through our continuous improvement process, while daily toolbox talks ensure safety remains a
primary focus for all employees and stakeholders.

We continue to invest in human capital by connecting employees to skill development through external expert training.
This includes specialized sessions on SIL/LOPA (Safety Integrity Level / Layer of Protection Analysis), Behavior-Based
Safety (BBS), ERT training, first aid, and Electrostatic Discharge (ESD) prevention. To mitigate fire risks, we implement
actions based on Quantitative Risk Assessment (QRA) studies across all locations. At the Kurkumbh site, we revamped the
fire hydrant system from underground to above-ground to comply with IS 13039 requirements. Fire water sprinkler work
is also in progress and will be completed before December 2026. Our Patalganga and Dahej sites remain fully compliant
with high-hazard category standards and IS requirements.

To ensure accountability, all incidents and near-misses are investigated thoroughly by cross-functional teams, with
corrective actions implemented company-wide. Senior management conduct monthly walkthrough rounds to record and close
safety observations in every area of the factory. We measure our progress using Key Performance Indicators (KPIs), reviewing

leading and lagging indicators in monthly EHS meetings chaired by the Executive Director. Employees are encouraged to
report near-miss to proactively improve performance. Finally, we have implemented Behaviour-Based Safety and introduced
the Multi-Step Planning Process (MSPP), a unique initiative for quick risk assessment before starting any activity.

B. HEALTH & HYGIENE:

The health and well-being of employees continue to be of utmost importance to the us. All new employees, including
contract employees, undergo pre-employment medical examination before joining. In addition, periodic medical examinations
are conducted every six months for employees. Periodic medical examination of drivers is also carried out to ensure their
fitness and safety.

We conduct regular health awareness and training programmes on lifestyle diseases, stress management, preventive
healthcare, and healthy living through eminent doctors and specialists. Occupational Health Centers at all manufacturing
locations are equipped with qualified Factory Medical Officers, nursing staff, ambulance facilities, and trained first aiders.

Workplace monitoring is carried out periodically to assess chemical exposure, noise levels, and ambient air quality in line
with National Ambient Air Quality Standards. Under the Industrial Hygiene programme, exposure monitoring and baseline
studies have been completed across all sites. Strong engineering controls have kept employee exposure significantly below
internationally accepted limits. A detailed Industrial Hygiene Survey is planned across all production sites during FY 2026-27.

We have also introduced G6PD deficiency testing for vulnerable employees and engaged a professional consulting doctor
to strengthen occupational health practices. Additional initiatives planned for FY 2026-27 include a Mental Well-being
Programme, Employee Assistance Programme, counselling, and stress support services.

We are also assessing and monitoring an Employee Health Index across locations to drive continuous improvement.

For transportation-related safety and health management, drivers are provided specialized training on the hazards associated
with transported chemicals and their possible health impacts. Driver training video is initiated recently at our sites.

C. ENVIRONMENT:

Environmental protection and strict adherence to pollution control norms are top priorities for us. Our sustainability efforts
have been recognized by EcoVadis with a Bronze rating, reflecting our commitment to environmental, social, and ethical
performance throughout our supply chain.

i) Air Emissions -We conduct regular monitoring of emissions from various sources, ensuring all parameters remain
well within the limits specified in our consent to operate. At our sites, we have installed Online Continuous Emission
Monitoring Systems (OCEMS), connected to the State Pollution control Board and CPCB portals.

ii) Liquid Waste Treatment -Our manufacturing sites utilize integrated Effluent Treatment Plants (ETP) featuring primary,
secondary, and tertiary treatment stages to maintain discharge standards within prescribed limits. To ensure transparency,
we have deployed online real-time monitoring systems (OCEMS) across all locations. We achieve 100% effluent recycling
at Kurkumbh through Reverse Osmosis (RO) and Multi-Effect Evaporators (MEE), and all our sites now possess Zero
Liquid Discharge (ZLD) capabilities. Additionally, treated water from our Sewage Treatment Plants is fully repurposed
for gardening, supported by various “GO GREEN” initiatives at our plants and staff colonies.

iii) Hazardous Waste (HW) Management -Viewing waste as a business loss and an environmental risk, we focus on source
reduction by improving process yields and replacing hazardous chemicals with safer alternatives. We prioritize the
circular economy by recycling waste as raw material, reprocessing it into usable products, or finding direct applications
for it. When recovery is not feasible, waste is diverted to authorized recyclers or disposed of via secured landfills and
incineration at Common Hazardous Waste Treatment Storage and Disposal Facilities (CHWTSDF). We have set objectives
for waste management through reduction / recycle / reuse / recovery techniques. These objectives are continuously
reviewed for their progress and effectiveness.

iv) Green belt - Tree plantation both within and outside our factory premises is a core activity conducted on a regular
basis. At Kurkumbh, we have developed 94,731 m2 green belt and planted approx. 17,342 various species of plants.
At Dahej, we have developed 22,000 m2 area for green belt inside the plot and taken an adjacent land on lease from
GIDC for development of greenbelt having 35,622 m2 area. This outside plot is contiguous to the existing plot. Around
6,768 various species of trees are planted at both the places. At Patalganga, we have developed 5,010 m2 area for green
belt inside the plot and planted approx. 203 various species of plants, ensuring a significant ecological footprint at
every location.

D. SAFETY, HEALTH AND ENVIRONMENT (SHE) INCIDENTS:

Safety is the bedrock of our core values. During FY 2025-26, there was no reportable safety incident. This performance
is driven by a focus on proactive leading indicators, including the continuous monitoring of unsafe conditions and a
disciplined approach to the outcomes of our six Cross-Functional Teams (CFTs). We maintain a high level of rigor in
Incident Investigations and Near-Miss Root Cause Analysis (RCA) to prevent recurrence. Our commitment to process safety
is further demonstrated through PSSR (Pre-Startup Safety Reviews), HAZOP studies conducted by external agencies, and
strict adherence to Management of Change (MOC) protocols.

To ensure a competent workforce, we have achieved 100% training coverage, supplemented by daily Toolbox Talks (TBT).
Governance is reinforced through monthly Central Safety Committee (CSC) and Safety Review meetings, alongside regular
internal and external audits. Furthermore, we actively promote a safety-first mindset through various campaigns during National
Safety Week and other targeted safety initiatives throughout the year.

12. CORPORATE SOCIAL RESPONSIBILITY:

Your Company works with a deep sense of social commitment and contributes towards the welfare of the society that it is part
of. The Corporate Social Responsibility (CSR) Committee comprises of Mr. Yogesh M. Kothari, Chairman and Managing Director,
as Chairman of the Committee, Mr. Kirat M. Patel, Executive Director and Mrs. Leja S. Hattiangadi, Independent Director, as
members of the Committee. The Company has formulated a new CSR Policy indicating the activities to be undertaken by the
Company, which has been approved by the CSR Committee and the Board. In terms of the new CSR Policy, the Company’s
CSR initiatives are prioritized in the areas of Education, Health and Women Empowerment, Environment Sustainability, Rural
Development, Art and Culture.

The CSR budget for FY 2025-26 was '513.00 lakhs, out of which Company has spent '480.41 lakhs and an unspent amount of
'32.59 lakhs relating to ongoing projects has been transferred to separate Bank Account and said amount shall be spent within
a period of three financial years, as per the provisions of Companies Act, 2013. Out of unspent amount of '9.88 lakhs relating
to ongoing projects for FY 2024-25, which was also transferred to separate Bank Account an amount of '1 Lakh has been spent
during the financial year and balance amount of '8.88 lakhs will be spent during FY 2026-27.

The Annual Report on CSR activities is annexed herewith as “Annexure 3”. The CSR Policy can be viewed on the website of
the Company at https://alkylamines.com/wp-content/uploads/2022/03/V1-CSR-Policy.pdf

13. DIRECTORS AND KEY MANAGERIAL PERSONNEL:

Mr. Premal N. Kapadia (DIN 00042090) Non-Executive Non-Independent Director, retires by rotation at the ensuing AGM and,
being eligible, has offered himself for re-appointment.

The Board of Directors has, on the recommendation of Nomination & Remuneration Committee and subject to approval of share¬
holders through Postal Ballot, at their meeting held on November 4, 2025, approved the revision in remuneration, only with
respect to Commission payable, to Mr. Rakesh Goyal, Whole-time Director - Operations w.e.f. January 1, 2026 upto May 31, 2027.

Thus, the Commission payable to him for FY 2025-26 shall be @ 0.10% on the net profits of FY 2025-26, for the nine months
period from April 1, 2025 to December 31, 2025 and @ 0.30% on the net profits of FY 2025-26 for the three months period
from January 1, 2026 to March 31, 2026. From FY 2026-27 onwards i.e. with effect from April 1, 2026 till May 31, 2027, the
commission payable to him shall be 0.30% on the net profits of respective financial year, as calculated under provisions of the
Companies Act, 2013. Other terms and conditions of his remuneration which were effective from April 1, 2025 shall continue
and remain unchanged.

Subsequently, the shareholders have, by special resolution, approved the said revision in remuneration payable to Mr. Rakesh
Goyal, Whole-time Director - Operations through Postal Ballot on December 20, 2025.

The Independent Directors of your Company have certified their independence to the Board, stating that they meet the criteria
for independence as mentioned under Section 149 (6) of the Companies Act, 2013.

In terms of provisions of Section 150 of the Companies Act, 2013 read with Rule 6(4) of the Companies (Appointment &
Qualification of Directors) Amendment Rules, 2019 the Independent Directors of the Company have registered themselves with
the Indian Institute of Corporate Affairs, Manesar (‘IICA) and their registration certificates are valid.

The following are the Key Managerial Personnel of the Company in terms of the provisions of the Companies Act, 2013 read
with The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014:

• Mr. Yogesh M Kothari, Chairman & Managing Director

• Mr. Kirat M. Patel, Executive Director

• Mr. Suneet Y Kothari, Executive Director

• Mr. Rakesh Goyal, Whole-time Director (Operations)

• Mr. Chintamani D. Thatte, General Manager (Legal) & Company Secretary (and as Compliance Officer)

• Ms. Kanchan Shinde, Chief Financial Officer

There was no change in the composition of the Board of Directors and Key Managerial Personnel during the financial year
under review.

13.1 Board Evaluation

Pursuant to the provisions of Companies Act, 2013 and SEBI Listing Regulations, the annual evaluation has been carried out
by the Board of its own performance and that of its committees and individual Directors by way of individual and collective
feedback from Directors. The Directors expressed their satisfaction with the evaluation process.

13.2 Nomination and Remuneration Policy

The Board has, on the recommendation of the Nomination and Remuneration Committee framed a policy for selection and
appointment of Directors, Senior Management and their remuneration. The Nomination and Remuneration Policy can be viewed
on the company’s website at https://alkvlamines.com/wp-content/uploads/2022/03/Nomination-and-Remuneration-Policv.pdf

13.3 Meetings

During the financial year, five Board Meetings and four Audit Committee Meetings were convened and held, the details of which
are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under
the Companies Act, 2013 and circulars and regulations issued under SEBI Listing Regulations, as amended from time to time.

13.4. Directors’ Responsibility Statement

To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors
make the following statements in terms of Section 134(3)(c) of the Companies Act, 2013:

a. that in the preparation of the annual financial statements for the financial year ended March 31, 2026, the applicable
accounting standards have been followed along with proper explanation relating to material departures, if any;

b. that such accounting policies as mentioned in Notes to the Financial Statements have been selected and applied consistently
and judgement and estimates have been made 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 of the Company for the year ended on that date;

c. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud
and other irregularities;

d. that the annual financial statements have been prepared on a going concern basis;

e. that proper internal financial controls were in place and that the financial controls were adequate and were operating effectively.

f. that systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively.

The ongoing geopolitical conflict in the Middle East led to disruptions in logistics networks, and international crude oil and
petrochemicals supply chains. The disruption impacted the availability of Liquefied Natural Gas (LNG), which is a critical
input for the production of Ammonia. Consequently, several Ammonia manufacturers have indicated their inability to supply
the product during this period due to Force Majeure conditions. Due to this, the Company faced the challenges in procuring
Ammonia, a key raw material used in the manufacture of Methylamines, Ethylamines and their derivatives. Due to the non¬
availability of Ammonia, the Company was constrained to temporarily suspend the manufacturing of said products at its
Patalganga, Kurkumbh and Dahej sites and constitutes a force majeure event arising from the aforesaid geopolitical conflict. The
manufacture of other products at these sites, where ammonia was not required, was continued.

Except this, no material changes or commitments have occurred between the end of the financial year and the date of this
Report which affect the financial statements of the Company in respect of the reporting year.

14. RISK MANAGEMENT:

The Company has an elaborate Risk Management reporting system, which is designed to enable risks to be identified, assessed
and mitigated appropriately. The Board has constituted a Risk Management Committee to identify elements of risk in different
areas of operations and has formulated a Risk Management Policy for actions associated to mitigate the risks. There is a well-
structured Business Continuity Plan with Risk Management process for identifying the risks which has helped in development
of detailed risk mitigation plan. The Board oversees the Risk Management Report detailing all the risks that the Company faces
such as Marketing, Supply Chain, Commercial, Operations and Safety, Human Resource, Compliance and Financial and there
is an adequate risk management infrastructure in place, capable of addressing those risks. The Risk Management Policy is
available on the website of the Company at https://alkvlamines.com/wp-content/uploads/2022/05/Risk-Management-Policv.pdf

15. INTERNAL FINANCIAL CONTROLS:

Internal Financial Controls are an integrated part of the risk management reporting system, addressing financial and financial
reporting risks. Assurance on the effectiveness of internal financial controls is obtained through management reviews and
continuous monitoring by functional experts. We believe that these checks provide reasonable assurance that our internal
financial controls are designed effectively, are adequate and are operating as intended.

Further, National Financial Reporting Authority (NFRA) issued a Circular on January 7, 2026 which emphasizes the importance
of transparent, timely, and well-structured communication throughout the audit cycle to strengthen governance oversight and
enhance quality. For establishing continuous two-way communication process between the Statutory Auditors and Those Charged
with Governance (TCWG), it is essential to clearly determine what constitutes the TCWG. TCWG factually refers to the Board of
Directors, as the Board is ultimately responsible for governance. The Board at its meeting held on March 31, 2026 unanimously
decided that the Board of Directors shall be considered as TCWG.

Regarding the requirement under the Circular to appoint the nodal person from TCWG to facilitate structured and effective
communication with the nodal person from Statutory Auditors, the Board at the said meeting approved the appointment of Mr.
Kirat M. Patel, Executive Director as the nodal person of TCWG who shall communicate with the Mr. Vinay Balse, the nodal
person from Statutory Auditors side.

The Board also approved the Framework for effective Communication between the Statutory Auditors and TCWG. The
framework incorporates the requirements specified in the circular and aims to facilitate timely, well-structured, and transparent
communication between the Statutory Auditors and the TCWG.

16. VIGIL MECHANISM/WHISTLE BLOWER POLICY:

The Company has established a Vigil Mechanism/Whistle Blower Policy for Directors and Employees to report their genuine
concerns and to deal with instances of fraud and mismanagement, if any. The Mechanism provides for adequate safeguards
against victimization of director(s)/employee(s) who can avail of the mechanism and also provides for direct access to the
Chairman of the Audit Committee in exceptional cases. The Company has not received any complaints from whistle blowers
during the financial year 2025-26. The policy is available on the website of the Company at https://alkylamines.com/wp-content/
uploads/2022/03/Whistle-Blower-Policy.pdf

17. RELATED PARTY TRANSACTIONS:

All related party transactions that were entered into during the financial year were at an arm’s length basis and were in the
ordinary course of business. There are no materially significant related party transactions made by the Company with Promoters,
Directors, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the
Company at large.

All Related Party Transactions are placed for prior approval before the Audit Committee as also the Board. Prior omnibus approval,
wherever necessary, of the Audit Committee is obtained for the transactions which are of a foreseen and repetitive nature. The
transactions entered into pursuant to the omnibus approval so granted are audited and a statement giving details of all related
party transactions is placed before the Audit Committee and the Board of Directors for their approval on a quarterly basis. The
policy on Related Party Transactions as approved by the Board is uploaded on the Company’s website at https://alkvlamines.
com/wp-content/uploads/2026/06/V2-Related-Party-Transaction-Policy.pdf

Since all related party transactions entered into by the Company were in the ordinary course of business and were on an arm’s
length basis, form AOC-2 is not applicable to the Company.

18. CODE OF CONDUCT:

The Board of Directors has laid down a Code of Conduct applicable to the Board of Directors and Senior Management, which
is available on the Company’s website at https://alkvlamines.com/wp-content/uploads/2022/03/Code-of-Conduct.pdf. All Board
Members and Senior Management personnel have affirmed compliance with the code of conduct.

19. INSIDER TRADING POLICY:

As required under the SEBI (Prohibition of Insider Trading) Regulations, 2015, your directors have framed and approved
Insider Trading Policy for the Company i.e. ‘Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive
Information’ and ‘Code of Conduct for Regulating Monitoring and Reporting of Trading by Designated Persons/Insiders’. The Policy
is available on the company’s website at https://alkvlamines.com/wp-content/uploads/2022/03/INSIDER-TRADING-POLICY.pdf

20. FIXED DEPOSITS:

The Company has not accepted any fixed deposits from the public within the meaning of Section 73 of the Companies Act,
2013 and the Companies (Acceptance of Deposits) Rules, 2014.

21. INSURANCE:

The Properties and Assets of the Company are adequately insured.

22. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS:

There are no significant material orders passed by the Regulators / Courts / Tribunals which would impact the going concern
status of the Company and its future operations.

23. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS BY THE COMPANY:

Details of loans, guarantees and investments covered under the provisions of Section 186 of the Companies Act, 2013, wherever
applicable, are given in the notes to financial statements.

24. AUDITORS:24.1 Statutory Auditors

M/s. N.M. Raiji & Co., Chartered Accountants, Mumbai (Firm Registration Number 108296W) were appointed as Statutory
Auditors of the Company at the 42nd AGM held on August 1, 2022 for second term of five consecutive years, to hold office from
the conclusion of 42nd AGM till the conclusion of the 47th AGM of the Company. The Companies (Amendment) Act, 2017 had
waived the requirement for ratification of the appointment by the members at every AGM. Hence, the approval of the members
is not being sought for the re-appointment of the Statutory Auditors and in line with resolution of their appointment passed

at the 42nd AGM held on August 1, 2022. The Auditor’s Report for financial year 2025-26 does not contain any qualification,
reservation, disclaimer or adverse remark. There was no instance of fraud during the financial year under review, which
required the Statutory Auditors to report to the Audit Committee and / or Board under Section 143(12) of Act and Rules framed
thereunder. The Auditor’s Report is enclosed with the financial statements in this Annual Report.

24.2 Cost Auditors

In terms of the Section 148 of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014, it is stated
that the cost accounts and records are made and maintained by the Company as specified by the Central Government under
Section 148(1) of the Companies Act, 2013.

The Board of Directors has, on the recommendation of Audit Committee, re-appointed M/s. Manish Shukla & Associates, as Cost
Auditor for the financial year 2026-27 under Section 148 of the Companies Act, 2013 read with the Companies (Cost Records
and Audit) Amendment Rules 2014, as amended from time to time.

The remuneration payable to the Cost Auditor is required to be placed before the Members in a general meeting for their
ratification. Accordingly, Resolution seeking Members’ ratification for the remuneration payable to Cost Auditor for the financial
year ending 2026-27 is sought under Item No. 4 of the Notice convening the AGM.

24.3 Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act, 2013, the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 and SEBI Listing Regulations, as amended, the Members in their 45^th AGM held on July 1,
2025 appointed Mr. Prashant Mehta, Practicing Company Secretary, to undertake the Secretarial Audit of the Company for a
period of five years with effect from financial year 2025-26 till 2029-30.

The Secretarial Auditor’s Report for financial year 2025-26 does not contain any qualification, reservation, disclaimer or adverse
remark. The Report of the Secretarial Auditor for the financial year ended March 31, 2026 is annexed herewith as “Annexure 4”.

24.4 Internal Auditors

The Board of Directors based on the recommendations of the Audit Committee have re-appointed Aneja Assurance Private
Limited, Mumbai, Chartered Accountants as Internal Auditors of the Company for the Financial Years 2026-27. The Internal
Auditors submit their report on quarterly basis to the management.

25. CORPORATE GOVERNANCE:

As per SEBI Listing Regulations, a separate section is annexed herewith as “Annexure 5” on corporate governance practices
followed by the Company, together with a certificate from the Company’s Secretarial Auditors confirming compliance, forms
an integral part of this Report.

The Company complies with all applicable Secretarial Standards issued by the Institute of Company Secretaries of India and
approved by the Central Government under Section 118 (10) of the Companies Act, 2013 for the financial year ended March 31, 2026.

26. BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT:

In terms of SEBI Listing Regulations, top 1000 listed entities, as per market capitalization, are required to attach ‘Business
Responsibility and Sustainability Report’ to their Annual Report. Accordingly, a separate section on Business Responsibility and
Sustainability Report, forms part of this Annual Report as required under Regulation 34(2)(f) of the SEBI Listing Regulations

27. CONSOLIDATED FINANCIAL STATEMENTS:

Since the Company does not have any subsidiary or associate company there is no requirement of preparing the Consolidated
Financial Statements during the financial year 2025-26 in accordance with relevant IND AS 110 issued by the Institute of
Chartered Accountants of India.

28. ANNUAL RETURN

The Annual Return as required under Section 92(3) of the Companies Act, 2013 and Rule 12 of the Companies (Management
and Administration) Rules, 2014 is available on the website of the Company and can be accessed at https://alkylamines.com/
wp-content/uploads/2026/06/2025-2026.pdf

29. EMPLOYEES

a) EMPLOYEE STOCK OPTION PLAN 2018 (ESOP 2018)

The ESOP Scheme, AACL Employees Stock Option Plan 2018’ (AACL ESOP, 2018) approved by the shareholders in 2019, is
in compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 (SEBI (SBEBSE) Regulations,
2021). There were no changes in the Scheme during the financial year. The Nomination and Remuneration Committee
(NRC) of the Board of Directors of the Company, inter alia, administers and monitors the Scheme.

In terms of the approval of the shareholders by Postal Ballot for sub-division and related actions and as a consequence of the
sub-division of equity shares from face value of '5 into face value of '2 in FY 2021-22, the Company has made appropriate
adjustments to the exercise quantity and to the exercise price of the outstanding ESOPs granted to employees with effect
from opening of business hours on May 13, 2021 (being the next working day post the record date of subdivision) so as
to ensure that the resultant payment by ESOPs grantees on the exercise of ESOPs and the resultant benefits due to the
adjustment to the revised exercise quantity and exercise price remains unchanged for grantees. Fraction quantity arising due
to the adjustment to the individual vest quantity has been rounded down and the resultant difference, wherever applicable,
due to such adjustment, shall be paid off to grantees as per market price of the shares prevailing at the time of exercise
of Options relevant to fraction Option, by applying the formula (Market price of share at the time of exercise of relevant
Option less exercise price multiplied by fraction Option). The ESOPs grantees have been intimated about this adjustment,
along with adjusted statement of ESOPs.

The total ESOP grants till date aggregate to 2,41,752 out of total 5,10,000 (pre-split 2,04,000) ESOPs permitted to be granted
as per AACL ESOP, 2018. Of the 2,41,752 ESOPs granted till date, 1,53,072 equity shares of '2 per share have been allotted
till date pursuant to exercise of ESOPs.

The disclosures regarding stock options required to be made under the provisions of the SEBI (SBEBSE) Regulations, 2021 are
available on the website of the Company at https://alkvlamines.com/wp-content/uploads/2026/06/ESQP-Disclosure-2025-2026.pdf

A certificate from the Secretarial Auditors of the Company that the Scheme has been implemented in accordance with SEBI
(SBEBSE) Regulations, 2021 and the resolution passed by the members, shall be placed in the ensuing AGM for inspection
by the Members. A copy of the same will also be available for inspection at the Company’s Registered Office.

b) DISCLOSURES UNDER SECTION 197 QF THE COMPANIES ACT, 2013

Disclosures pertaining to the remuneration and other details as required under Section 197(12) of the Companies, Act,
2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 made
thereunder, form part of the Board’s Report. The said disclosures, information and details in respect of employees of
the Company required pursuant to said Section and the Rule made thereunder will be provided upon request. Further,
a statement showing the names and particulars of employees drawing remuneration in excess of limits as set out under
Rule 5(2) of the said Rules also forms part of this Report. However, in terms of Section 136 of the Companies Act 2013,
the Report and Accounts are being sent to the Members and others entitled thereto, excluding the statement of particulars
of employees and is available for inspection by the Members at the Registered Office of the Company during office hours
(i.e. 11:00 A.M. to 4:00 P.M.) on all working days other than on Saturday and Sunday till the date of AGM. If any Member
is interested in obtaining a copy thereof, such Member may write to the Company Secretary in this regard.

30. a. DISCLOSURE UNDER SEXUAL HARASSMENT QF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND
REDRESSAL) ACT, 2013:

The Company has formulated a comprehensive policy on prevention, prohibition and redressal against sexual harassment of
women at workplace, which is in accordance with the provisions of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 (‘POSH’). The said policy has been made available on the website of the Company at https://
alkvlamines.com/wp-content/uploads/2023/06/Prevention-of-Sexual-Harassment-policv-2023.pdf

In line with the requirements of POSH, the Company has set up Complaints Committees at its workplaces to look into complaints of sexual
harassment received from any women employee. No complaints of sexual harassment have been received during the financial year 2025-26.

b. COMPLIANCE WITH PROVISIONS RELATING TO MATERNITY BENEFIT ACT, 1961

The Company has complied with the provisions relating to the Maternity Benefit Act, 1961 during the financial year 2025-26.

31. CAUTIONARY STATEMENT

Statements in the Board’s Report and the Management Discussion & Analysis describing the Company’s objectives, expectations or
forecasts may be forward-looking within the meaning of applicable securities laws and regulations. Actual results may differ materially
from those expressed in the statement. Important factors that could influence the Company’s operations include global and domestic
demand and supply conditions affecting selling prices of finished goods, input availability and prices, changes in government
regulations, tax laws, economic developments within the country and other factors such as pandemic, litigation and industrial relations.

32. ACKNOWLEDGEMENTS

The Directors would like to take this opportunity to show their appreciation to all employees for their hard work, dedication
and support which has helped us face all challenges and enable business continuity. The Directors wish to place on record
their appreciation of the continuous support received by the Company from the investors, participating Banks, Central/State
Government Departments, its Customers and Suppliers.

For and on behalf of the Board

Place: Mumbai YOGESH M. KOTHARI

Date: May 5, 2026 Chairman & Managing Director

(DIN: 00010015)