2. STATEMENT OF COMPANY’S AFFAIRS:

The Company is engaged in the business of fabrication
and installation of Aluminium Windows-Doors, Curtain
Walls, Cladding and Glazing System to cater Architects,
Consultants, Builders, Institutions and Corporates. There
has been no change in the business activity carried out by
the Company during the financial year 31^st March 2025.

The financial performance during the FY 2024-25 are as
under:

The Company delivered a strong financial performance
during the year ended 31st March 2025, backed by
increased execution of high-value projects and a robust
order book. The Revenue from Operations for the year stood
at INR 10,922.48 lakhs representing a growth of 31% over
the previous year’s revenue of INR 8,342.71 Lakhs.

This increase is primarily attributed to the successful
and timely delivery of multiple large-scale fapade and
architectural infrastructure projects. Other Income for the

year was INR 130 Lakhs as against INR 16.76 Lakhs in FY
2023-24 leading to a total income of INR 11,052.47 Lakhs
up from INR 8,359.47 Lakhs in the previous year.

The EBITDA for FY 2024-25 stood at approximately
INR 1,328.48 Lakhs demonstrating strong operational
profitability. The Company reported a Profit Before Tax (PBT)
of INR 1,098.34 Lakhs as compared to INR 1,022.88 Lakhs
in FY 2023-24, showing a growth of over 7.3%.

The Profit After Tax (PAT) for FY 2024-25 increased to INR
812.14 Lakhs, up from INR 754.46 Lakhs in FY 2023-24,
registering a year-on-year growth of 7.7%. The increase
in Profit After Tax (PAT) during FY 2024-25 is primarily
attributed to the Company’s successful execution and
delivery of several projects. This not only contributed to
higher revenue but also improved operational efficiencies,
resulting in enhanced profitability for the year.

3. TRANSFER TO RESERVE:

The Board of Directors has not transferred any amount to
reserves for the financial year ended 31^st March, 2025. The
entire profit for the financial year 2024-25 has been retained
in the retained earnings under the Profit & Loss Account.

4. DIVIDEND:

Considering the Company’s ongoing expansion and the
growing scale of operations, along with the need to meet
its working capital requirements, the Board of Directors do
not recommend any dividend on the equity shares for the
financial year 2024-25.

To ensure transparency in the declaration of dividends and
to safeguard the interests of shareholders, the Company
has adopted a Dividend Distribution Policy since the
listing of its equity shares. The policy is available on the
Company’s website at https://aluwind.net/policies/.

As the Company has not declared any dividend in the
past, there is no unpaid or unclaimed dividend that falls
under the provisions of Section 124(5) of the Companies
Act, 2013, requiring transfer to the Investor Education and
Protection Fund (IEPF) maintain and administer by the
Central Government.

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

There have been 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 the financial statements relate and the
date of this report, which forms part of this report.

6. CHANGE IN THE NATURE BUSINESS:

There has been no change in the nature of business of the
Company in the financial year under review.

7. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS
PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS IMPACTING THE GOING CONCERN STATUS
AND COMPANY’S OPERATIONS IN FUTURE:

The Company has not received any significant or material
orders passed by any regulatory authority, court or tribunal
which shall impact the going concern status and Company’s
operations in future.

8. MATERIAL EVENT:

A. INITIAL PUBLIC ISSUE (IPO):

During the year, the Company successfully issued
66,00,000 Equity Shares of INR 10/- each at an issue
price of INR 45/- per Equity Share, representing 4.5
times the face value. The Company’s Initial Public
Offering (IPO) received an overwhelming response,
particularly from High Net-Worth Individuals (HNIs)
and retail investors.

The Board places on record its sincere appreciation and
gratitude to all stakeholders, including the Securities
and Exchange Board of India (SEBI), the National Stock
Exchange (NSE), the Lead Manager, Depositories, legal
advisors, consultants, statutory auditors, and the
employees of the Company, whose collective efforts
played a vital role in the successful completion of the
IPO.

The company has received trading approvals from
National Stock Exchange, NSE EMERGE on 08^th
April 2024 and the company officially listed on NSE
EMERGE on 09t^h April 2024. The Issue was made in
accordance with SEBI (Issue of Capital and Disclosure
Requirements) Regulations, 2018, as amended from
time to time. The IPO’s success is a testament to the
stakeholders’ trust and confidence in the Board and
Management of the Company.

B. CHANGE OF NAME OF THE COMPANY FROM
ALUWIND ARCHITECTURAL LIMITED TO ALUWIND
INFRA-TECH LIMITED:

During the year under review, the Company made
an application to the Registrar of Companies (ROC),
Mumbai for change of its name from Aluwind
Architectural Limited to Aluwind Infra-Tech Limited.
The ROC has approved the application and issued a
Fresh Certificate of Incorporation dated 16^th April 2025.
The change in name reflects the Company’s broader
strategic vision and expansion into infrastructure
and technology-oriented projects. There has been no
change in the core business activities of the Company
pursuant to the change of name.

C. INCORPORATION OF ALUWIND CLEAN TECH PRIVATE
LIMITED:

As a part of the expansion of the business of the
company, your Company has incorporated a subsidiary
Company viz Aluwind Clean-Tech Private Limited
incorporated on 21^st May 2025. The newly incorporated
Company shall carry out the business of providing
comprehensive cleaning and maintenance solutions
for windows, facades, buildings and infrastructure
projects using both traditional systems and advanced
technologies.

9. SHARE CAPITAL:

Authorized Share Capital:

The authorized share capital of the Company is
INR 24,99,00,000 divided into 2,49,90,000 Equity Shares of
INR 10 each as on 31^st March 2025.

Issue, subscribed and paid-up capital of the Company:

The Issued, subscribed and paid up- capital of the Company
is INR 24,84,74,200 divided into 2,48,47,420 Equity Shares
of INR 10/- each as on 31^st March 2025.

ISSUE OF SHARES, INCLUDING DISCLOSURE ABOUT
ESOP AND SWEAT EQUITY SHARE:

a. Buy Back Of Securities: - The Company has not bought
back any of its securities during the year under review.

b. Sweat Equity: - The Company has not issued any Sweat
Equity Shares during the year under review.

c. Bonus Shares: - The Company has not issued any
Bonus Shares during the year under review.

d. Employees Stock Option Plan: - During the financial
year 2024-25, the Company had not implemented any
Employee Stock Option Scheme (ESOP). However,
subsequent to the end of the financial year and as
on the date of this report in FY 2025-26 the Company
has launched an ESOP Scheme for the benefit of its
employees.

e. Initial Public Offer: During the year, the Company
successfully issued 66,00,000 Equity Shares of INR
10/- each at an issue price of INR 45/- per Equity Share.
The said 66,00,000 Equity Shares were successfully
subscribed by the public and Company has made
allotment of equity shares on 05^th April 2024. The entire
Paid-up Equity shares of the Company was then listed
at Emerge Platform of National Stock Exchange of India
Limited.

f. Issue of Equity Shares with differential rights as to
dividend, voting or otherwise: The Company has not
issued any equity shares with differential rights as to
dividend, voting or otherwise.

g. Issue of Equity shares (including sweat equity shares)
to employees of the company under any scheme: The
Company has not issued any shares (including sweat
equity shares) to employees of the Company under any
scheme.

10. UTILIZATION OF FUNDS RAISED THROUGH PUBLIC
ISSUE:

The Company had raised funds through Initial Public Offer
(IPO) and the equity shares are listed on EMERGE Platform
of National Stock Exchange of India Ltd. The proceeds of
aforesaid issue is being utilized, for the purpose for which
it was raised by the Company in accordance with the terms
of the issue as mentioned in Prospectus. There was no
deviation(s) or variation(s) in the utilization of public issue
proceeds from the objects as stated in the prospectus
issued by the Company.

During the year ended 31st March 2025, the Company
had an unutilized balance of INR 5.67 Lakhs from the IPO
proceeds. This amount has been fully utilized as on the
date of this report. The company has filled the Statement of
Deviation with the Stock Exchange in accordance with the
provisions of the SEBI regulations.

11. PUBLIC DEPOSITS:

The Company has not accepted any deposits from public
falling within the ambit of section 73 and Section 76 of the
Act, read with the Companies (Acceptance of Deposits)
Rules, 2014. Hence the provision of Section 73 to 76 of the
Company Act, 2013 or any other relevant provisions of the
Act and the Rules there under are not applicable.

12. ANNUAL RETURN:

The Annual Return for Financial Year 2024-25 as per
provisions of the Companies Act, 2013 and Rules thereto,
is available on the Company’s website https://aluwind.net/
investor-relations/

13. PARTICULARS OF HOLDING, SUBSIDIARIES, JOINT
VENTURES AND ASSOCIATE COMPANIES:

Your Company does not have any Holding, Subsidiary,
Joint venture or Associate Company as on 31^st March
2025. During the financial year under review, there are no
companies which has become or ceased to be Subsidiary,
Joint Venture and Associate Companies.

However, as part of the expansion of the business of the
company your Company has incorporated a subsidiary viz
Aluwind Clean Tech Private Limited on 21^st May 2025. Since
the Company has been incorporated after the closure of
financial year and hence a separate statement containing
the salient features of Financial Statement of subsidiary in

the prescribed format AOC-1 is not required to be append
to the Board’s report.

During the financial year ended 31^st March 2025, the
Company does not have any Joint Venture and Associate
Companies.

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

The particulars of loan given, investments made, guarantees
given and securities provided covered under the provisions
of Section 186 of the Companies Act, 2013 are provided in
the notes to the Financial Statements.

15. POSTAL BALLOT:

The Company has passed a Special Resolution through
postal ballot for changing its name from Aluwind
Architectural Limited to Aluwind Infra-Tech Limited, in
accordance with the provisions of Sections 108 and 110 of
the Companies Act, 2013 read with Rules 20 and 22 of the
Companies (Management and Administration) Rules, 2014.
The requisite disclosures and intimations as applicable
have been duly submitted to the Stock Exchange(s) from
time to time.

CHANGE IN DIRECTOR IN KEY MANAGERIAL PERSONNEL:

#Mr. Kiran Shankar Shetty was appointed as a Non-Executive
Independent Director of the Company on 13^th November 2024
and Ms. Yogita Dharmendra Poriya resigned from the position of
Non-Executive Independent Director on 27^th December 2024.
##Mr. Harsh Singh Solanki was appointed as the Company
Secretary & Compliance Officer of the Company on
13^th November 2024 and on 12^th November 2024, Ms. Shripriya
Mishra resigned from the position of Company Secretary &
Compliance Officer of the Company.

16. CONTRACTS OR ARRANGEMENTS MADE WITH RELATED
PARTIES UNDER SECTION 188(1) OF THE COMPNIES
ACT,2013PARTIES UNDER SECTION 188(1) OF THE
COMPNIES ACT,2013:

With reference to Section 134(3)(h) of the Act, all contracts,
and arrangements with related parties under Section 188(1)
of the Act, entered by the Company during the financial
year, were approved by the Audit Committee and wherever
required, also by the Board of Directors.

No contract or arrangement required approval of
shareholders by a resolution. Further, during the year, the
Company had not entered into any contract or arrangement
with related parties which could be considered ‘material’
(i.e. transactions entered into individually or taken together
with previous transactions during the financial year.

Since, all the related party transactions that were entered
into during the financial year 2024-25 were on an arm’s
length basis and were in the ordinary course of business
and there was no material related party transaction entered
by the Company during the year as per Related Party
Transactions Policy.

There were no materially significant related party
transactions which could have potential conflict with
interest of the Company at large. Members may refer to the
Notes to the Financial Statements for detailed disclosure
of related party transactions as required under applicable
accounting standards.

Director Liable to retire by Rotation:

In accordance with section 152(6) of the Companies Act,
2013 and in terms of Articles of Association of the Company
Mr. Rajesh Kabra (DIN: 00178688) Executive director of the
Company, retires by rotation and being eligible; offers himself
for re-appointment at the forthcoming Annual General Meeting.
The Board of Directors, on the recommendation of the
Nomination and Remuneration Committee, has recommended
their re-appointment. Details of the Directors retiring by
rotation and seeking reappointment have been furnished in the
explanatory statement to the notice of the ensuing AGM.

19. CORPORATE GOVERNANCE:

The Equity Shares of the Company are listed on the SME
Platform (NSE Emerge) of the National Stock Exchange
of India Limited. Pursuant to Regulation 15(2) of the
SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, the compliance with the provisions of
Corporate Governance as specified under 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 shall not
apply to the following:

a) Listed entities having paid-up equity share capital not
exceeding INR 10 crore and net worth not exceeding
INR 25 crore as on the last day of the previous financial
year;

b) Listed entities which have listed their specified
securities on the SME Exchange.

Since the Company has listed its securities on the SME
Exchange and thus falls under exemption clause (b)
above, the provisions relating to Corporate Governance
are not applicable. Accordingly, the Corporate
Governance Report does not form part of the Annual
Report for the financial year 2024-25.

20. COMPLIANCE WITH CODE OF CONDUCT:

All the Directors and KMP have affirmed that compliance
with the code of the conduct for the financial year 2024-25.
A Declaration signed by the Managing Director is included
to Annual Report.

21. COMMITTEES OF THE BOARD:

The Company has constituted the following Committees
of the Board in accordance with the provisions of the
Companies Act, 2013 and pursuant to the SEBI (Listing
Obligations and Disclosure Requirements) Regulations,
2015 (“SEBI LODR Regulations”) to the extent applicable.
These Committees have been formed to ensure effective
governance and compliance with the applicable statutory
requirements.

A. AUDIT COMMITTEE:

In accordance with the provisions of Section 177 of the
Companies Act, 2013, the Company has duly constituted
an Audit Committee. The committee met 4 times during the
financial year 2024-25.

The details of the composition of the Committee including the
details of meeting attended by the members are as under:

B. NOMINATION AND REMUNERATION COMMITTEE:

The Nomination and Remuneration Committee of
the Company is constituted in accordance with the
provision of Section 178 of the Companies Act, 2013. The
Nomination and Remuneration Committee recommends
the appointment of Directors and remuneration of such
Directors to the Board of the Directors of the Company.

C. STAKEHOLDERS RELATIONSHIP COMMITTEE:

In order to address and resolve the grievances of
stakeholders, the Company has constituted a Stakeholders
Relationship Committee in accordance with the provisions
of Section 178 of the Companies Act, 2013. The details of
the composition of the Committee including the details of
meeting attended by the members are as under

©-Chairman of the Committee

D. DETAILS OF COMPLAINTS RECEIVED AND RESOLVED
DURING THE FINANCIAL YEAR 2024-25:

The Company is duly registered on the SCORES portal
of SEBI to address and resolve investor grievances and
complaints from time to time. The details of the complaints
received at scores portal during the year are as under:

The Company has Nomination and Remuneration policy,
which provides the criteria for determining qualifications,
positive attributes, independence of a Director and policy
relating to remuneration for Directors, Key Managerial
Personnel in accordance with the provisions of Section
178 of the Companies Act, 2013. The Nomination and
Remuneration Policy of the Company is hosted on the
Company’s website at https://aluwind.net/policies.

22. DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received necessary declaration from
each of the 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 the rules made thereunder. In the
opinion of the Board of Directors, all Independent Directors
of the Company fulfils the conditions specified in the Act
and Rules made thereunder.

23. FAMILIARIZATION PROGRAMME FOR INDEPENDENT
DIRECTORS:

The Company has put in place a structured familiarization
programme for its Independent Directors. Upon their
appointment, the Independent Directors are provided with
a letter of appointment detailing their roles, responsibilities,
and rights, along with copies of relevant documents and
policies to enable them to effectively discharge their duties.

24. PERFORMANCE EVALUATION OF THE DIRECTORS BY
THE INDEPENDENT DIRECTORS OF THE COMPANY:

Pursuant to applicable provisions of the Act and the Listing
Regulations, the Board, in consultation with its Nomination
and Remuneration Committee, has formulated a framework
containing, interalia, the criteria for performance evaluation
of the individual directors.

In accordance with the said framework, the Independent
Directors of the Company carried out the performance
evaluation of the Non-Independent Directors at their
meeting held on 05^th February 2025 without the presence of
the Non-Independent Directors of the Company.

25. AUDITORS AND AUDITOR’S REPORT:

A. STATUTORY AUDITOR AND THEIR REPORT

During the financial year 2024-25, the Company at
their Annual General Meeting held on 27^th September
2024 appointed M/s. R Kejriwal & Co, Chartered
Accountant (FRM: 133558W) as the Statutory Auditor
of the Company for a period of 5 consecutive year
and shall hold office till the conclusion of the Annual
General Meeting to be held in 2029.

The Auditor has also confirmed that they have
subjected themselves to the peer review process of
Institute of Chartered Accountants of India (ICAI) and
hold a valid certificate issued by the Peer Review Board
of the ICAI. The auditor submitted their Report on the
Financial Statements of the Company for the financial
year 2024-25 which forms part of this Annual Report.
There are no observations (including any qualification,
reservation, adverse remark or disclaimer) of the
Auditor in the Audit Report issued by them which
call for any explanation/comment from the Board of
Directors.

B. SECRETARIAL AUDITOR & REPORT:

The Company has appointed M/s. Pratima Gupta &
Co, Practicing Company Secretaries as the Secretarial
Auditor of the Company for the financial year ended 31^st
March 2025. The Secretarial Audit Report for the said
financial year in the prescribed form MR-3 pursuant
to the provisions of Section 204 of the Act is annexed
as Annexure-I to this report. The Secretarial Auditor’s
Report for the financial year 2024-25 does not contain
any qualification, reservation or adverse remark.

C. COST AUDIT AND REPORT:

During the year under review, in accordance with
the provisions of Section 148(1) of the Companies
Act, 2013, the Company has duly maintained the
cost accounts and cost records as prescribed by the
Central Government. During the financial year 2024¬
25, the Cost Audit is not applicable to the company.
The Board at their meeting held on 08^th August 2025
appointed of the Company for conducting the cost
audit for the financial year 2025-26. A resolution
seeking the ratification of remuneration payable to the
Cost Auditors for the financial year 2025-26 is included
in the Notice convening the ensuing Annual General
Meeting.

The Company confirms that the cost records as
required to be maintained under Section 148(1) of the
Companies Act, 2013 have been duly prepared and
maintained.

26. INTERNAL FINANCIAL CONTROL SYSTEM:

The Company maintains a robust internal control framework
that reflects its commitment to governance, operational
integrity, and regulatory compliance. The Company’s
internal financial controls are meticulously designed to suit
the scale, complexity, and specialized nature of its faqade
and fenestration operations. These controls form the
backbone of its risk management strategy and are regularly
reviewed and updated to align with evolving business
landscapes and statutory requirements.

27. DIRECTORS’ RESPONSIBILITY STATEMENT:

In terms of Section 134(3)(c) of the Companies Act, 2013,
with respect to Directors’ Responsibility Statement it is
hereby confirmed that:

a) In the preparation of the annual accounts for the year
ended 31^st March 2025, the applicable accounting
standards had been followed along with proper
explanation relating to material departures.

b) 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 31^st March 2025 and of the profit of the
Company for the year ended on that date.

c) 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.

d) The annual financial statements are prepared on going
concern basis.

e) 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

f) 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.

28. VIGIL MECHANISM AND WHISTLE-BLOWER POLICY:

The Company has established a vigil mechanism in
accordance with the provisions of Section 177 of the
Companies Act, 2013 read with Rule 7 of the Companies
(Meetings of Board and its Powers) Rules, 2014. The
Company has also formulated a Whistle Blower Policy
to provide a framework for directors, employees to
report genuine concerns regarding unethical behaviour,
malpractices, actual or suspected fraud, violation of the
Company’s Code of Conduct, or suspected leakage of
Unpublished Price Sensitive Information (UPSI).

Under this mechanism, adequate safeguards are provided
against victimization of the whistleblower, and direct
access to the Chairman of the Audit Committee has been
made available for all

all directors, employees. The Policy is also available on
the website of the Company and can be access at https://
aluwind.net/policies/.

33. COMPLIANCE TO THE SEXUAL HARASSMENT OF
WOMEN AT WORKPLACE (PREVENTION, PROHIBITION,
AND REDRESSAL) ACT, 2013:

The Company has a zero-tolerance policy towards sexual
harassment at the workplace and has implemented a robust
mechanism for prevention, prohibition, and redressal
of sexual harassment in line with the provisions of the
Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 and the Rules framed
thereunder.

An Internal Complaints Committee (ICC) has been duly
constituted to address any complaints pertaining to sexual
harassment at the workplace.

During the financial year 2024-25, the Company did not
receive any complaints of sexual harassment.

Further, the Nil report, duly signed by the Chairperson of the
Internal Complaints Committee (ICC), in compliance with
the POSH Act, was submitted to the concerned authority
on 31^st January 2025 for the year ended 31st December
2024.

34. COMPLIANCE WITH MATERINITY BENEFIT ACT,1961:

Pursuant to Companies (Second Amendment) Companies
Account Rules,2014 dated 30^th May 2025 the disclosure as
required are as under:

35. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

The Management Discussion and Analysis Report for the
year under review, as stipulated under the Securities and
Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“Listing Regulations”) is
presented in a separate section forming part of the Annual
Report.

35. DETAILS IN RESPECT OF FRAUDS REPORTED BY
AUDITORS:

The Statutory Auditor and Secretarial Auditor of the
Company have not reported any frauds to the Audit
Committee or to the Board of Directors under section
143(12) of the Act, including rules made there under.

36. CORPORATE SOCIAL RESPONSIBILITY:

The Company has adopted a Corporate Social Responsibility
(CSR) Policy in compliance with the provisions of Section 135
of the Companies Act, 2013 and the rules made thereunder.
During the financial year 2024-25, the Company has
undertaken CSR activities in accordance with the said Policy.
The details of the CSR initiatives undertaken by the
Company during the year, in the prescribed format, are
annexed herewith as Annexure-II to this Report.

37. RISK MANAGEMENT:

The Company recognizes that risk is an inherent part of
any business activity and is committed to managing the
risks in a proactive and structured manner. Although the
provisions of Regulation 21 of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 relating
to the constitution of a Risk Management Committee are
not applicable to SME listed companies, the Company
has adopted a Risk Management policy to identify,
assess, monitor, and mitigate various risks that could
have an adverse impact on its business operations and
performance.

The Board of Directors oversees the risk management
process and ensures that appropriate frameworks are
in place to manage strategic, operational, financial, and
compliance-related risks. The Company periodically
reviews its risk exposure and implements appropriate
mitigation measures to address any significant risks.

During the year under review, no major risks were identified
which could threaten the existence or operations of the
Company.

38. PARTICULARS OF EMPLOYEES:

The information required under Section 197 of the Act,
read with rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014,
relating to percentage increase in remuneration, ratio
of remuneration of each Director and Key Managerial
Personnel (KMP) to the median of employees’ remuneration
are provided in Annexure- III of this report.

The statement containing particulars of employees, as
required under Section 197 of the Act, read with rule 5(2)
of the Companies (Appointment and Remuneration of

Managerial Personnel) Rules, 2014, is provided in a separate
Annexure- III forming part of this report.

39. DISCLOSURES WITH RESPECT TO DEMAT SUSPENSE
ACCOUNT/ UNCLAIMED SUSPENSE ACCOUNT:

There are no securities lying in the Demat Suspense
Account or Unclaimed Suspense Account of the Company
maintained with the Merchant Banker. Furthermore, the
Company has initiated the process for closure of the said
account and has made an application for its closure.

40. DETAILS OF THE AGREEMENTS ENTERED BY THE
COMPANY:

The Company has leased a new industrial premises of
44,000 Square Ft in Koregoan-Bhima-Pune. The necessary
disclosure regarding the same is already given to Exchange
dated 09^th October 2024.

ACKNOWLEDGEMENT

The Board of Directors places on record its sincere
appreciation for the continued support, trust, and
confidence reposed by the shareholders, investors,
customers, suppliers, business associates, and bankers in
the Company.

The Board also expresses its gratitude to the Government
authorities, regulatory bodies, and stock exchanges for
their valuable guidance and continued support.

The Directors also take this opportunity to thank all the
employees of the Company for their hard work, dedication,
and commitment, which has been instrumental in achieving
the Company’s performance and growth during the year.

The Board looks forward to the continued support of all
stakeholders in the journey ahead.