Your directors feel great pleasure in presenting the 34^th Annual Report of your Company along with the
Audited Standalone and Consolidated Financial Statements for the financial year ended 31^st March, 2025.

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REVIEW OF OPERATIONS:

The Company is engaged in the business of manufacturing of “Auto Components”. During the financial year
under review, the Company has registered a turnover of Rs. 16,573.04 Lakh (previous year Rs. 20,624.80
Lakh) and Net Profit after Tax of Rs. 2,015.73 Lakh (previous year Rs. 2,568.84 Lakh).

To undertake aluminium die casting business activities the 'Aluminium Division' in a separate entity, the
Company incorporated Menon Alkop Limited on 23^rd January, 2024 as its Wholly Owned Subsidiary. As
approved by the members of the Company on 28^th April, 2024 by passing of special resolution though Postal
Ballot process, the Company sold its 'Aluminium Division' to Menon Alkop Limited on slump sale basis.

During the financial year under review, the Company has registered a consolidated turnover of Rs. 23,927.80
Lakh (previous year Rs. 21,075.26 Lakh) and Consolidated Net Profit after Tax of Rs. 2,493.45 Lakh (previous
year Rs. 2,435.51 Lakh).

DIVIDEND:

The Company's overall performance during the financial year under review was satisfactory. Based on the
performance, the Company declared interim dividend @ Rs. 2.00 per Equity Share (previous year Rs. 2.25 per
Equity Share), being 200% (previous year 225%) of the paid-up Equity Share Capital of the Company for the
financial year ended 31^st March, 2025. Considering current market scenario and to conserve resources, your
directors are not recommending any further dividend for the financial year ended 31^st March, 2025, and the
interim dividend already paid may be taken as final dividend for the financial year under review.

SHARE CAPITAL OF THE COMPANY:

During the financial year under review, there was no change in the paid up share capital of the Company. As on
31^st March, 2025, the paid up share capital of the Company was Rs. 5,60,40,000/- (Rupees Five Crore Sixty
Lakh Forty Thousand only) divided into 5,60,40,000 (Five Crore Sixty Lakh Forty Thousand) Equity Shares of
Re. 1/- each fully paid up.

CHANGE IN THE NATURE OF BUSINESS OF THE COMPANY:

There was no change in the nature of business activities of the Company during the financial year under review,
except sale of 'Aluminum Division' to its Wholly Owned Subsidiary viz. Menon Alkop Limited on slump sale
basis.

RESERVES:

During the financial year under review, a sum of Rs. 75.00 Lakh (previous year Rs. 75.00 Lakh) was transferred
to the General Reserve.

SUBSIDIARIES, ASSOCIATE AND JOINT VENTURE COMPANIES:

As on 31^st March, 2025, the Company had three wholly owned subsidiaries namely Menon Brakes Limited
(formerly known as Menon Brakes Private Limited), Menon Alkop Limited and Menon Bearings New Ventures
Limited.

As turnover of Menon Alkop Limited, Wholly owned subsidiary of the Company, during the financial year ended
31^st March, 2025 exceeded 10% of the consolidated turnover of the Company has become material subsidiary
of the Company in terms of Regulation 16 (C) of the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) and Policy on determining Material
Subsidiaries of the Company.

Pursuant to the provisions of Section 129(3) of the Companies Act, 2013 (“Act”), a statement containing salient
features of the financial statements of wholly owned subsidiary companies in Form AOC - 1 is annexed as
Annexure - I and forms part of this Report.

During the financial year under review, the Company had no joint venture / associate company.
CONSOLIDATED AUDITED FINANCIAL STATEMENTS:

Pursuant to the provisions of Sections 129 and 133 of the Act read with the Companies (Accounts) Rules, 2014
and as required under Regulation 34 of the Listing Regulations the Company has prepared Consolidated
Audited Financial Statements consolidating financial statements of its wholly owned subsidiaries namely
Menon Brakes Limited (formerly known as “Menon Brakes Private Limited”) Menon Alkop Limited and Menon
Bearings New Ventures Limited with its financial statements in accordance with the applicable provisions of
Indian Accounting Standards (“Ind-AS”).

The Consolidated Audited Financial Statements along with the Independent Auditors' Report thereon are
annexed and form part of this Report and the summarized consolidated financial position is provided in
financial highlights stated herein above.

PUBLIC DEPOSITS:

During the financial year under review, the Company has not accepted or renewed any deposits from public
within the meaning of Sections 73 and 76 of the Act read with the Companies (Acceptance of Deposits) Rules,
2014.

ANNUAL RETURN:

As required under Section 92(3) read with Section 134(3) (a) of the Act, the copy of Annual Return as on 31^st
March, 2025 will be placed on the website of the Company and can be accessed at
https://menonbearings.in/investor-information

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

a) Retirement by rotation

In accordance with the provisions of Section 152 of the Act read with the Companies (Management and
Administration) Rules, 2014 and Articles of Association of the Company, Mr. R. D. Dixit (DIN: 00626827),
Managing Director of the Company retires by rotation at the ensuing 34^th Annual General Meeting (“AGM”) and
being eligible, has offered himself for re-appointment and your Board recommends his re-appointment.

b) Appointment and Re-appointment

In terms of provisions of Section 152(6) of the Act Mr. Arun Aradhye (DIN: 00692754), retired by rotation at the
33^rd AGM of the Company held on 6^th September, 2024, and was appointed as director of the Company

Mr. Siddheshwar Kadane was appointed as Company Secretary and Compliance Officer of the Company with
effect from 1^st January, 2025.

Mr. Nandan Dattatray Borgalkar (DIN: 07322278) is proposed to be appointed as Non-Executive Independent
Director of the Company, not liable to retire by rotation, for a term of 5 (five) consecutive years with effect from
1^st October, 2025 to 30^th September 2030 in the ensuing AGM of the Company.

Apart from above, no other Director or KMP was appointed / re-appointed during the financial year under
review.

c) Cessation

Mr. Manmay Kalyankar, Company Secretary and Compliance Officer of the Company resigned from the
services of the Company with effect from closing business hours of 8^th October, 2024. The Board places on
record its sincere appreciation for the valuable contribution made by him during his tenure as Company
Secretary and Compliance Officer of the Company.

No other Director or KMP retired or resigned during the financial year under review.

d) Declaration from Independent Directors

The Company has received necessary declarations from all the Independent Directors of the Company
confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Act and
Regulation 16(1)(b) of the Listing Regulations and pursuant to Regulation 25(8) of the Listing Regulations
declaring that they are not aware of any circumstance or situation, which exist or may be reasonably
anticipated that could impair or impact their ability to discharge their duties with an objective independent
judgment and without any external influence. The Independent Directors have also confirmed that they have
complied with the provisions of Schedule IV of the Act and the Company's Code of Conduct.

Further, the Independent Directors have also submitted their declaration in compliance with the provisions of
Rule 6(3) of the Companies (Appointment and Qualifications of Directors) Rules, 2014, which mandated the
inclusion of their name in the data bank of Indian Institute of Corporate Affairs.

None of the directors of your Company are disqualified under the provisions of Section 164(2) of the Act. Your
directors have made necessary disclosures, as required under various provisions of the Act and the Listing
Regulations and in the opinion of the Board, all the Independent Directors are person of integrity and possess
relevant expertise and experience and are independent of the management.

e) Number of Directors

As per Regulation 17(1) of the Listing Regulations, the Company is required to appoint minimum 6 (six)
directors including one woman director on its Board, out of them half of the board should consist of independent
directors.

At present, in compliance with the aforesaid provisions, your Company has six directors consisting of three
Independent Directors including one woman director and three Executive Directors.

f) Annual Performance and Board Evaluation

The Board has devised a policy pursuant to the applicable provisions of the Act and the Listing Regulations for
performance evaluation of the Chairman, Board as a whole and individual directors (including Independent
Directors) and Committees, which includes criteria for performance evaluation of Non-Executive Directors and
Executive Directors.

The Board has devised questionnaire to evaluate the performance of Board as a whole, Committees of the
Board individual directors and Chairperson. The Chairman of respective Board Committees shared the report
on evaluation with the Board. The performance of each Committee was evaluated by the Board, based on
report on evaluation received from respective Committees. The reports on performance evaluation of the
individual directors were reviewed by the Board.

The evaluation framework for assessing the performance of directors comprises of the following key areas:

i. Attendance at Board and Committee Meetings;

ii. Quality of contribution to the deliberations;

iii. Strategic perspectives or inputs regarding future growth of the Company and its performance; and

iv. Providing perspectives and feedback going beyond information provided by the management.

Taking into account the views of Executive Directors and Non-Executive Directors, the Independent Directors,
in their a separate meeting, evaluated the performance of non-independent directors, the Board as a whole
and Chairman of the Company.

g) Key Managerial Personnel (“KMP”)

The details of Key Managerial Personnel of the Company are as follows:

MEETINGS OF THE BOARD AND COMMITTEES:

The Board of Directors meets at regular intervals to discuss and decide on Company / business policies and
strategy apart from other Board business. A tentative annual calendar of the Board and Committee meetings is
informed to the directors in advance to facilitate them to plan their schedule accordingly and to ensure
meaningful participation in the meetings. However, in case of special or urgent business need, the Board's /
Committees approval is taken by passing resolutions through circulation, as permitted by law, which are noted
in the subsequent meeting of the Board of Directors / Committees.

The notice of meetings of the Board of Directors and Committees are given well in advance to all the directors
of the Company. Usually, meetings of the Board are held in Kolhapur, Maharashtra. The agenda of the Board /
Committee meetings are circulated at least 7 days before the date of the meeting. The agenda for the Board
and Committee meetings include detailed notes on the items to be discussed at the meeting to enable the
directors to make informed decisions.

During the financial year under review, the Board of Directors met 5 (five) times as per details given below, and
the intervening gap between two consecutive meetings was within the period prescribed under the Act and the
Listing Regulation;

DIRECTORS' RESPONSIBILITY STATEMENT:

Your directors to the best of their knowledge and belief and according to the information and explanations

obtained by them and as required under Section 134(3) read with Section 134(5) of the Act state that:

a. in the preparation of the annual accounts, the applicable accounting standards have been followed along
with proper explanation relating to material departures, if any;

b. they 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 the end of the financial year 31^st March, 2025 and of the profit of the Company for that period;

c. they 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;

d. they have prepared the annual accounts on a going concern basis;

e. they have laid down internal financial controls to be followed by the Company and that such internal financial
controls are adequate and were operating effectively; and

f. they have devised proper systems to ensure compliance with the provisions of all applicable laws and that
such systems were adequate and operating effectively.

COMMITTEES OF THE BOARD:

In accordance with the applicable provisions of the Act and the Listing Regulations, the Company has

constituted four committees of the Board, namely:

1. Audit Committee;

2. Stakeholders' Relationship Committee;

3. Nomination and Remuneration Committee; and

4. Corporate Social Responsibility Committee.

Details of the said Committees along with their charters, composition and meetings held during the financial

year under review are provided in the report on Corporate Governance, forming part of this Report.

The details of meetings of various Committees and attendance thereat are given below:

AUDIT COMMITTEE:

The Audit Committee is duly constituted as per the provisions of Section 177 of the Act and Regulation 18 of the
Listing Regulations.

As on 31^st March, 2025, the Audit Committee comprised of 4 (four) members viz., Mr. M. L. Shinde, Mr. R. D.
Dixit, Mrs. Kailash A. Nevagi, and Dr. Santosh Prabhu. Mr. M. L. Shinde is the Chairman of the Audit
Committee and the Company Secretary and Compliance Officer of the Company acts as the Secretary to the
Audit Committee.

The Audit Committee of the Company reviews the reports to be submitted to the Board of Directors with respect
to auditing and accounting matters. It also supervises the Company's internal control and financial reporting
process and vigil mechanism.

All the recommendations made by the Audit Committee during the financial year under review were accepted
by the Board of Directors of the Company.

WHISTLE BLOWER POLICY / VIGIL MECHANISM:

The Company has adopted Vigil Mechanism / Whistle Blower Policy as per the provisions of Section 177 of the
Act and Regulation 22 of the Listing Regulations to deal with instances of fraud and mismanagement. It also
provides adequate safeguards against victimization of directors or employees or any other person who avail
the mechanism and it provides for direct access to the Chairman of the Audit Committee in exceptional cases.

The details of the Vigil Mechanism are provided in the report on Corporate Governance and also posted on the

website of the Company at https://menonbearings.in/wp-content/uploads/2025/08/VIGIL-MACHANISM-
POLICY.pdf

We affirm that during the financial year under review, no employee or director was denied access to the
Chairman of the Audit Committee.

PARTICULARS OF EMPLOYEES:

(a) The information, as required under Section 197(12) of the Act read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, is given in Annexure - II, forming
part of this report.

(b) The statement containing particulars of employees, as required under Section 197(12) of the Act read
with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014, is provided in this Report as Annexure - III, forming part of this report.

(c) Information under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013:

The Company has constituted an Internal Committee as required under Section 4 of the Sexual Harassment
of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. During the financial year under
review, no complaint was filed before the said Committee. No complaint was pending at the beginning or at
the end of the financial year under review.

(d) Compliance with the provisions of Maternity Benefit Act, 1961:

The Company has devised proper systems to ensure compliance with the provisions of the Maternity Benefit
Act, 1961. Your Directors confirm that the Company has complied with the said provisions during the financial
year under review, wherever required.

(e) Number of employees as on the closure of financial year ended 31^st March, 2025:

Female : 1

Male : 202

Transgender : 0

REMUNERATION POLICY:

Pursuant to the provisions of Section 178 of the Act and Regulation 19 of the Listing Regulations and upon
recommendation of Nomination and Remuneration Committee, the Board of Directors has adopted a policy
for appointment of directors, key managerial personnel, senior management personnel and e-valuation of
their performance and remuneration. The said Policy has been placed on the website of the Company and is
available at - https://menonbearings.in/corporate-governance

STATUTORY AUDITORS:

As per the provisions of Section 139 of the Act read with the Companies (Audit and Auditors) Rules, 2014, the
members of the Company at their 31^st AGM held on 22^nd September, 2022 appointed M/s. A R N A &
Associates, Chartered Accountants, Kolhapur (FRN: 122293W) as the Statutory Auditors of the Company for
a term of 5 (five) consecutive years, and accordingly they will hold office as such till the conclusion of
36^thAGM of the Company to be held for the financial year ending 31^st March, 2027.

M/s. A R N A & Associates, Chartered Accountants, have furnished a certificate of their eligibility under
Section 141 of the Act and the Companies (Audit and Auditors) Rules, 2014, confirming that they are eligible

for continuance as Statutory Auditors of the Company.

STATUTORY AUDITORS’ REPORT:

The Statutory Auditors' reports on the Audited Standalone and Consolidated Financial Statements of the
Company for the financial year ended 31^st March, 2025 form part of this Report.

The Statutory Auditors' Reports on the Audited Standalone and Consolidated Financial Statements for the
financial year ended 31^st March, 2025 does not contain any qualifications, reservations or adverse remarks or
disclaimer.

COST RECORDS AND COST AUDIT:

During the financial year under review, the Company duly made and maintained the Cost accounts and records
as required under Section 148(1) of the Act.

The Company has received Cost Audit Report for the financial year ended 31st March, 2025 from M/s. C. S.
Adawadkar & Co., Cost Accountants, Cost Auditors of the Company.

COST AUDITORS:

Pursuant to the provisions of Section 148 of the Act read with the Companies (Audit and Auditors) Rules, 2014,
the Board of Directors of the Company, in its meeting held on 10th May, 2024, re-appointed M/s. C. S.
Adawadkar & Co., Cost Accountants, Pune (FRN: 100401) as Cost Auditors of the Company to conduct audit
of cost records pertaining to manufacturing of Aluminum products, Bi-metallic products and tractors and other
motor vehicles (including automotive components) for the financial year 2024-25

Further, the Board of Directors of the Company, in its meeting held on 15th May, 2025 re-appointed M/s. C. S.
Adawadkar & Co., Cost Accountants, Pune (FRN: 100401) as Cost Auditors of the Company to conduct audit
of cost records pertaining to manufacturing of Aluminum products, Bi-metallic products and tractors and other
motor vehicles (including automotive components) for the financial year 2025-26. A resolution seeking
ratification of the remuneration payable to the said Cost Auditors for the financial year 2025-26 by the members
is provided in the Notice of the ensuing 34th AGM of the Company.

SECRETARIAL AUDITORS:

Pursuant to the provisions of Section 204(1) of the Act read with the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 and Regulation 24A of the Listing Regulations, the
Company had appointed M/s. M Baldeva Associates, Company Secretaries, Mumbai to undertake Secretarial
Audit of the Company for the financial year 2024-25.

With respect to observation made by the Secretarial Auditors in their Report regarding delay in filing of some e-
forms with the Registrar of Companies, your directors would like to mention that the delay in filing of such e-
forms was inadvertent.

Further, pursuant to the provisions of Regulation 24A of Listing Regulations as amended vide Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations,
2024 dated 13^th December, 2024, the Board of Directors appoint of M/s M Baldeva Associates, Company

Secretaries, Mumbai as the Secretarial Auditors of the Company for a term of 5 (five) consecutive years
commencing from financial year 2025-2026 till financial year 2029-30 to carry out Secretarial Audit subject to
approval of shareholders at Annual General Meeting. A resolution seeking approval of the members for
appointment of Secretarial Auditors is provided in the Notice of the ensuing 34^th AGM of the Company.

INTERNAL AUDITOR:

Pursuant to the provisions of Section 138 of the Act read with the Companies (Accounts) Rules, 2014, the
Board of Directors, based on the recommendation of the Audit Committee, re-appointed Mr. Abhay Golwalkar,
Chartered Accountant, Kolhapur as Internal Auditor of the Company for the financial year 2025-26. Internal
Auditor submits his report to the Audit Committee on quarterly basis.

Based on the Internal Auditor’s reports, the management undertakes corrective actions in respective areas
and thereby strengthens the controls. Significant audit observations and corrective actions thereon are
presented to the Audit Committee periodically.

REPORTING OF FRAUD BY AUDITORS

None of the Auditors have reported any fraud as specified under Section 143(12) of the Act.

INTERNAL FINANCIAL CONTROL:

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

The Audit Committee evaluates the efficiency and adequacy of financial control system in the Company, its
compliance with operating systems, accounting procedures at all locations of the Company and strives to
maintain the highest standard in Internal Financial Control.

RISKS AND AREAS OF CONCERN:

The Company has laid down a well-defined Risk Management Policy covering the risk mapping, trend
analysis, risk exposure, potential impact and risk mitigation process. A detailed exercise is being carried out to
identify, evaluate, manage and monitoring of both business and non-business risks. The Board periodically
reviews the risks and suggests steps to be taken to control and mitigate the same through a properly defined
framework.

REPORT ON CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION AND ANALYSIS
REPORT

Pursuant to the provisions of Regulation 34(3) read with Schedule V of the Listing Regulations, the following
have been made part of the Annual Report and are annexed to this report:

0 Management Discussion and Analysis Report;

0 Report on Corporate Governance;

0 Declaration on compliance with Code of Conduct;

0 Certificate from Practicing Company Secretary that none of the directors on the Board of the Company

has been debarred or disqualified from being appointed or continuing as directors of companies; and
0 Auditors' Certificate regarding compliance of conditions of Corporate Governance.

CORPORATE SOCIAL RESPONSIBILITY:

Pursuant to the provisions of Section 135 of the Act read with the Companies (Corporate Social Responsibility)
Rules, 2014, the Company has constituted Corporate Social Responsibility (’CSR’) Committee and has
framed policy on Corporate Social Responsibility. As part of its initiatives under CSR, the Company has
identified various projects / activities in accordance with Schedule VII of the Act and its CSR policy.

The details of CSR activities undertaken during the financial year 2024-25, as required under Rule 8 of the
Companies (Corporate Social Responsibility) Rules, 2014, are annexed as Annexure - V and forms part of this
report.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

All contracts / arrangements / transactions entered by the Company during the financial year under review with
related parties were in the ordinary course of business on arm's length basis and are reported in the Notes to
Accounts for the financial year ended 31^st March, 2025.

The details of material related party transactions as referred to in Section 188(1) of the Act in the prescribed
Form AOC-2 under the Companies (Accounts) Rules, 2014 are given in Annexure - VI and forms part of this
report.

In accordance with the provisions of Regulation 23 of the Listing Regulations, the Company has formulated the
Related Party Transaction Policy and the same is uploaded on the Company's website at
https://menonbearings.in/wp-content/uploads/2025/08/POLICY-ON-RELATED-PARTY-
TRANSACTIONS.pdf

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

No material changes or commitments affecting the financial position of the Company have occurred between
end of the financial year to which the financial statements relate and the date of this report.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

The details of loans, guarantees given or investments made by the Company as required under the provision of
Section 186 (4) of the Act are given under Notes to Accounts for the financial year ended 31st March , 2025 and
forms part of this report.

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:

There was No significant or material order have been passed by any regulator or court or tribunal, which
impacts the going concern status of the Company or will have bearing on company's operations in future.

INVESTOR EDUCATION AND PROTECTION FUND (IEPF):

Pursuant to the provisions of Section 124(5) of the Act read with the Investor Education and Protection Fund
Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, all unpaid or unclaimed dividends are required
to be transferred by the Company to the IEPF established by the Government of India, after the completion of
seven years or more. Further, according to the provisions of 124(6) of the Act read with the said Rules, the
shares on which dividend remained unpaid or unclaimed by the shareholders for seven consecutive years or
more shall also be transferred to the demat account of the IEPF Authority. Accordingly, during the financial year
under review, the Company transferred 2,06,440 Equity Shares to the demat account of the IEPF Authority for
which dividends remained unpaid/unclaimed for seven consecutive years or more.

In terms of the provisions of Section 125 of the Act read with the Investor Education and Protection Fund
Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, during the financial year under review, an
amount of Rs. 19,51,342/- and Rs. 26,02,707/- which remained unpaid and unclaimed dividend for the
financial years 2016-17 and 2017-18 respectively, was transferred to the IEPF account.

Further, the unpaid and unclaimed dividend amount lying with the Company for the financial year 2016-17 is
due to transfer to the IEPF. The complete details of the same are available on the Company's website viz.
https://menonbearings.in/investor-relations/investorinformation.

The Board has appointed Mr. Arun Aradhye, Whole Time Director and Chief Financial Officer of the Company
as the Nodal Officer to ensure compliance with the IEPF Rules.

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

Pursuant to the provisions of Section 134(3)(m) of the Act read with Rule 8 of the Companies (Accounts) Rules,
2014, details regarding Conservation of Energy, Technology absorption, Foreign exchange earnings and
outgo are given in Annexure - VII and forms part of this report.

COMPLIANCE WITH SECRETARIAL STANDARDS:

The Company has devised proper systems to ensure compliance with the provisions of all applicable
Secretarial Standards issued by the Institute of Company Secretaries of India and your directors confirm
compliance of the same during the financial year under review.

PROCEEDINGS UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016:

During the financial year under review, no application was made or proceeding initiated against the Company
under the Insolvency and Bankruptcy Code, 2016 nor was any such proceeding pending at the end of the
financial year under review.

VALUATION OF ASSETS:

During the financial year under review, there was no instance of one-time settlement of loans / financial
assistance taken from Banks or Financial Institutions, hence the Company was not required to carry out
valuation of its assets for the said purpose.

ACKNOWLEDGMENTS:

Your directors wish to place on record their gratitude for the continued co-operation and patronage extended by
the esteemed customers both in OEM and Replacement Market segments. The directors would also like to
place on record their sincere appreciation for the continued co-operation, guidance, support and assistance
extended during the financial year under review by our bankers, customers, suppliers and Government
agencies. The Board of Directors also wishes to express its appreciation for the valuable contribution made by
the employees at all levels during the financial year under review.

For and on behalf of the Board of Directors
of Menon Bearings Limited

NITIN MENON

Place : ^Kolhapur Executive Chairman

Date : 25^thJuly, 2025 DIN: 00692754