Your directors have pleasure in presenting the 35th Annual Directors' Report on the business andoperations of your Company together with the audited Financial Statement for the financial yearended March 31, 2025.
1. Financial Results
The Company’s financial performance for the year ended March 31,2025 is summarized below:
Particulars
For the Financial yearended March 31,2025
For the Financial yearended March 31, 2024
Total Revenue
15280.19
15538.30
Profit before depreciation and Taxation
I.ess: depreciation
173.46
157.26
Profit after depreciation
243.38
171.80
Less: Provision for Taxation
Current Year
29.75
44.51
Deferred Tax
62.65
(6.29)
Previous Year Tax
9.13
-
Net Profit/(Loss) for the period
141.85
133.58
Add: Profit brought forward
1877.71
1744.13
Less: Transfer to General Reserve
Profit available for appropriation
2019.56
Dividend & Tax on dividend
Surplus carried to Balance Sheet
The Company has been engaged in the business of manufacturing of Cold Rolled Stainless SteelPrecision Strips and Coils and SS Flexible Hoses, situated in the hub of the "Stainless Steel City’ Hisar(Haryana) with marketing offices in Delhi, Mumbai and further representations in Europe, provides anadded advantage of abundant raw material supply.
There has been no change in the nature of business of the Company during the financial year endedMarch 31,2025.
The total income for the financial year 2024-25 has decreased to Rs. 15280.19 Lakhs, as against Rs.15538.30 Lakhs in the financial year 2023-24, and the profit after tax has increased to Rs. 141.58Lakhs in the financial year 2024-25, from Rs. 133.58 Lakhs in the financial year 2023-24.
In terms of the Dividend Distribution Policy of the Company and as per SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015 ("SEBI LODR”), equity shareholders of the Company mayexpect dividend, if the Company is having surplus funds and after taking into consideration therelevant internal and external factors as mentioned in the said Policy. Accordingly, considering thecash position, fund requirements for growth of business of your Company and agreement with theLenders, the Board of Directors has not recommended any dividend for the financial year ended March31,2025.
The Dividend Distribution Policy is available on Company's wehsite at the following link:
lHtDS;//www.uualilvnn>un.m/wn-cotilent/unloads/2023/01/PI VI DEN D-DISTRIBUlTION-POLICV.pdf
During the reporting financial year, the company has not transferred any amount to any reserves ofthe Company.
There has been no change in the share capital of your Company during the Financial Year 2024-25.
The Authorised Share Capital of the Company as at March 31, 2025 is 4,00,00,000/- (Rupees FourCrores only) and the Paid-up Share Capital is Rs. 2,85,40,000/- (Rupees Two Crore Eighty Five LakhForty Thousand Only).
The Annual Return for the Financial year 2024-25 shall be uploaded on the website of the Company
There have been no material changes or commitments occurred between the end of the financial yearto which the financial statements relate and the date of this report that affect the financial position of
the Company.
During the FY 2024-25, your Company has not accepted any deposits from the public falling underSection 73 and 76 of the Act read with the Companies (Acceptance of Deposits) Rules, 2014, and assuch no amount of principal or interest was outstanding as on the date of the Balance Sheet
The details relating to deposits, covered under Chapter V of the Act are provided hereunder:
1. Accepted during the year: Nil
2. Remained unpaid or unclaimed as at the end of the year: Nil
3. Deposits repaid during the Year: Nil
4. Whether there has been any default in repayment of deposits or payment of interest thereonduring the year and if so, number of such cases and the total amount involved: - Since theCompany has not accepted any deposits during the Financial Year, therefore this clauseshall not be applicable on the Company.
a) at the beginning of the year: Not Applicable
b) during the year: Not Applicable
c) at the end of the year: Not Applicable
d) The details of deposits, not in compliance with the requirements of Chapter V of the Act: Nil
During the period under review, there were no funds which were required to he transferred toInvestor Education and Protection Fund (IEPF). Therefore, this clause is not applicable on Company.
The particulars of loans, guarantees or investments by your Company under Section 186 of theCompanies Act, 2013 are stated in Notes to Accounts of the financial statements, forming part of theAnnual Report.
The company has policies and procedures for ensuring the orderly and efficient conduct of itsbusiness, including adherence to company’s policies, the safeguarding of its assets, the prevention anddetection of frauds and errors, the accuracy and completeness of the accounting records, and thetimely preparation of reliable financial information, in place to cope with internal financial controlswith reference to financial statements. During the year under review, such controls were tested and noreportable material weakness in the design or operation was observed.
Details regarding the internal financial control and its effectiveness are provided in the ManagementDiscussion and Analysis section, which is forms a part of Annual Report.
During the period, the Company has complied with the provisions of Section 177(9) and (10) of theCompanies Act, 2013. The Company has established a Vigil Mechanism / Whistle Blower Policy toprovide a secure environment and mechanism for directors and employees to report genuine concernsabout unethical behavior, actual or suspected fraud, or violation of the Company’s Code of Conduct.
The Vigil Mechanism & Whistle Blower Policy has been posted on the Company’s website which maybe accessed on the Company's website at the link:
https://www.uualitvgrouo.in/wP-content/uploadsy2023/05/Viiul-Mechamsm Puhcv.pdt
Risk Management is the process of identification, assessment and prioritization of risks followed bycoordinated efforts to minimize, monitor and mitigate/control the probability and/or impact ofunfortunate events or to maximize the realization of opportunities.
The Company has laid down a comprehensive Risk Assessment and Minimization Procedure which isreviewed by the Board from time to time. These procedures are reviewed to ensure that executivemanagement controls risk through means of a properly defined framework. The major risks have beenidentified by the Company and its mitigation process/measures have been formulated in the areassuch as business, project execution, financial, human, environment and statutory compliance.
The Board has constituted Risk Management Committee to frame, implement, monitor the RiskManagement Plan of the Company. Additionally, the Company has also devised a Risk ManagementPolicy for identification of elements of risks and procedures for reporting the same to the Board whichmay be accessed on the Company's website at the link:
https://www.qualitvgroup.in/wp-content/uploads/2Q23/0l/RISK-ASSESSMENT-AND-MANAGEMENT-POLICY.pdl
Details regarding the risk management policy are provided in the Management Discussion andAnalysis section, which is forms a part of Annual Report.
15. Energy Conservation. Technology Absorption, Foreign E,\change_Earnings & Outgo
The particulars relating to conservation of energy, technology absorption, foreign exchange earnings
and outgo, as required to be disclosed under the Companies Act, 2013, are provided in Annexure A tothis Report.
In accordance with Section 134(3)(c) read with 134(5) of Companies Act, 2013, the Directors wouldlike to inform the Members that the Audited Accounts for the financial year ended March 31, 2025, arein full conformity with the requirement of the Companies Act, 2013. The Financial Accounts areaudited by the Statutory Auditors, (M/s Kansal Jain & Associates having FRN: 023083N). The Directorsfurther confirm that:
1) In the preparation of the annual financial statements for the year ended March 31, 2025 theapplicable Indian accounting standards (IND-AS) read with requirements set out under ScheduleIII to the Act, have been followed and there are no material departures from the same;
2) The Directors have selected such accounting policies and applied them consistently and madejudgments and estimates that are reasonable and prudent so as to give a true and fair view of thestate of affairs of the Company at the end of the financial year and of the profit and loss of theCompany for that period;
3) The Directors have taken proper and sufficient care for the maintenance of adequate accountingrecords in accordance with the provisions of this Act for safeguarding the assets of the Companyand for preventing and detecting fraud and other irregularities;
4) The Directors have prepared the annual accounts on a going concern basis;
5) The Directors have laid down internal financial controls to be followed by the Company and thatsuch internal financial controls are adequate and were operating effectively; and
6) The Directors have devised proper systems to ensure compliance with the provisions of allapplicable laws and that such systems were adequate and operating effectively.
All related party transactions entered into during financial year 2024-25 were on an arm's length basisand in the ordinary course of business. Therefore, the provisions of Section 188 of the Companies Act,2013 were not attracted.
The disclosure as required under Section 134(3) (h) of the Act in form AOC-2, of related partytransactions entered during the financial year 2024-25, is provided in Annexure B to this report. Thedisclosure of transactions with related parties for the financial year is given in to the Balance Sheet i.e.as per Accounting Standard -18.
The Policy on materiality of related party transactions may be accessed on the Company’s website atthe link:
https://www.qualitygroup.mAvp-contem/upk)uds/2023/Ql/PQLlCY-UN-DEALlliG-Wrni-RELATED-
18. Compliance with secretarial standards
During the year under review, your Company has complied with all applicable secretarial standardsissued by the Institute ot Company Secretaries of India and approved by the Central Governmentpursuant to Section 118(10) of the Companies Act. 2013.
The following were the appointment/resignation/change in designation that took place during theFinancial Year 2024-25 in your Company.
a) Mr. Mohan Lai (DIN: 10252864) was regularized as an Executive Director on the Board of theCompany with effect from September 04,2024.
b) Ms. Meenakshi, Company Secretary and Compliance Officer of the Company had resigned fromthe said post with effect from June 29. 2024.
c) Ms. Amelia Nelson was appointed as Company Secretary and Compliance Officer with effect fromAugust 10, 2024
The structure of the Board is as follow:
S. No.
Name of the Person
Designation
1.
Mr. Kuldip Bhargava
Chairman and ExecutiveDirector
2.
Mr. Tejasvi Bhargava
Managing Director
3.
Mr. Mohan Lai
Executive Director
4.
Mr. Rajender Kedia
Independent Director
5.
Mr. Sumant Bhatnagar
6.
Ms. Uma
7.
Ms. Amelia Nelson
Company Secretary
8.
Mr. Birdhi Chand lain
Chief Executive officer
Further, after the closure of FT 2024-25, Mr. Tejasvi Bhargava (DIN: 00011205) was re-appointed asthe Managing Director on the Board of the Company with effect from March 01, 2026 for a term of fiveyears starting from March 01, 2026 and the same has been approved by the Shareholders in theensuing ACM.
The Board of Directors has established a Code of Conduct applicable to its members and seniormanagement personnel. This Code serves as a framework for ethical business practices, equitabletreatment, and the prohibition of actions such as bribery, corruption, and anti-competitive behaviour.
All Board members and senior management personnel have confirmed their compliance with the Codeof Conduct for the financial year 2024-25. The Code is also available on the website of the Company at
In accordance with SEBI Insider Trading Regulations, the Company has established a "Code of Conductto Regulate, Monitor, and Report Trading by Designated Persons" ("Code on prohibition of InsiderTrading”). Such measures aim to prevent insider trading activities and ensure ethical management ofsensitive information.
The Code on prohibition of Insider Trading is reviewed and amended suitably from time to time, toincorporate the amendments carried out by SEBI. The Code outlines the duties and responsibilities ofDesignated Persons (DPs), including the maintenance of a Structured Digital Database (SDD). Thisdatabase serves as a crucial tool for preventing insider trading and managing Unpublished PriceSensitive Information (UPSI).
To enhance employee awareness and compliance, the Company periodically circulates informativeemails and conducts periodic quiz on the Prevention of Insider Trading, outlining Do's and Don’ts andfamiliarizing employees with key aspects of the Code. During the year under review, the AuditCommittee evaluated the adequacy and effectiveness of the internal control systems related to theSEBI Insider Trading Regulations. It reviewed cases of non-compliance, if any, and recommendedactions to the Board in line with the penalty framework.
Any non-compliances are promptly reported to the Stock Exchanges in the prescribed format, andpenalties, if applicable, are directly deposited by the Designated Person into SEBI's Investor Protectionand Education Fund.
The Code is available on the website of the Company httns://www.qualitvgroup.in/wn-iimtent/uoloads/2023/01/C0DC-0F-C0NDUCT-T0-RECULATE-M0NIT0R-REP0RT-TKAD1NC-BY-IMSmERSaU
All the Independent Directors of the Company had given the declaration under Section 149(7) of theCompanies Act, 2013 that they meet the criteria of independence as provided in Section 149(6) of theAct read with the Rules framed thereunder and Regulation 16 of SEBI (l.ODR). 2015. The IndependentDirectors have also confirmed that they have complied with the Company's Code of Conduct for BoardMembers and Senior Management. Further, all the Directors have also confirmed that they are notdebarred to act as a director by virtue of any SEBI order or any other authority. The Company hasreceived a declaration from the Independent Directors that their name is included in the data bank.
Your Company has also devised a Policy on Familiarization Programme for Independent Directorswhich aims to familiarize the Independent Directors with your Company, nature of the industry inwhich your Company operates, business operations of your Company etc. The said Policy may lieaccessed on your Company's website at the link:
httPS;//www.aujlitvgrouo.in/wp-comenl/uDloads/2023/Ul/FAMlLlARIZATIDN PROGRAMME-FOR-INDEPENDENT-DIRF.CTORS.pdf
23. Statement regarding opinion of the Board with regard to integrity, expertise and experiencef including the oroficiencvl of the independent directors appointed during the year.
There is no appointment of the Independent Directors during the year FY 2024-25. Hence, this clauseshall not be applicable on the Company.
24. Performance Evaluation
The Company has devised a policy for performance evaluation of Independent Directors, Board.Committees and other individual Directors which includes criteria for performance evaluation of theNon-Executive Directors and Executive Directors. The evaluation of all the Directors and the Board aswhole was conducted based on the criteria and framework adopted by the Board.
The policy is available on the website of the Company and can be accessed by clicking on the belowlink:
lmt)s://www.mialUvurotiu.in/wn-content/uoloads/2Q23/Ql/PQUCY-ON-NOMINATION-AND-REMUNERATION-COM MITTKE.odf
25. Corporate Social Responsibility
In accordance with Section 135(5) of the Companies Act, 2013, and its subsequent rules, the Companyis mandated to allocate a minimum of 2% of its average net profits from the past three financial yearstowards Corporate Social Responsibility (CSR) initiatives, as calculated under Section 198 of the
Companies Act, 2013 for the financial year 2024-25, however, the Company was not required toearmark funds for CSR activities and to formulate the CSR Policies as per the stipulated criteria.
26. Committees of the Board
The Audit Committee (the "Committee”) was constituted by the Board of Directors at theirmeeting held on November 26, 2022 in accordance with the Section 177 of the Companies Act,2013 and Rule 6 of the Companies (Meeting of board and its powers) Rule, 2014.
f /immteilinn Aiiiiil (' m m Ý ft an Ý
Name of the Director
Status
Nature of Directorship
Mr. Rajinder Kedia
Chairman
Member
During the financial year 2024-25, the Audit committee held a total of 4 (four) meetings. All thefour Audit committee meetings were held physically at the Registered Office of the Company. Therespective dates of the Audit committee Meetings and Number of members who attended themeeting during the mentioned period are as follows:
Date of meeting
No. of membersAttended the Meeting
No. of members entitled toattend the meeting
1
May 22. 2024
2
3
August 10,2024
October 28,2024
4
February 04. 2025
b) Stakeholders Relationship Committee ("SRC"!
The Stakeholders Relationship Committee was constituted by the Board of Directors at theirmeeting held on November 26, 2022 in accordance with the Section 178(5) of the Companies Act2013.
Comnosition of Stakeholders Relationshin Committee:
Mr Kuldip Bhargava
Kxecutive Director
During the financial year 2024-25, the SRC held 1 (One) meeting which was held physically at theRegistered Office of the Company. The respective dates of the SRC Meetings and Number ofmembers who attended the meeting during the mentioned period are as follows:
No. of members Attended theMeeting
No. of members entitledto attend the meeting
February 04.2025
c) Nomination and Remuneration Committee f'N&RCl)
The Nomination and Remuneration Committee has constituted by the Board of Directors at theirmeeting held on November 26, 2022 in accordance with the Section 178(4) of the Companies Act2013.
Composition of Nomination and Remuneration Committee
Mr. Kajinder Kedia
Mr. Sumant Rhatnagar
During the financial year 2024-25, the NRC held 2 (Two) meetings which were held physically atthe Registered Office of the Company. The respective dates of the NRC Meetings and Number ofmembers who attended the meeting during the mentioned period are as follows:
No. of members Attendedthe Meeting
August 10, 2024
October 28, 2024
d) Corporate Social Responsibility fCSR) Committee:
As the provisions of Sec-135 of the Companies act, 2013 are not applicable on the Company.Therefore, Company is not required to constitute CSR Committee.
The Board meets at regular intervals to discuss and decide on Company / Business policy and strategy.The gap between any two consecutive meetings was within the limit prescribed under the CompaniesAct. 2013 and SEBI (LODR) Regulations. The necessary quorum was present during all the meetings.
During the financial year 2024-25 the board of directors held a total of 5 (Five) meetings. All the FiveBoard meetings were held physically at the Registered Office of the Company. The respective dates ofthe Board Meetings and Number of Directors who attended the meeting during the mentioned Periodare as follows:
Date of Board Meeting
No. of Directors Attendedthe Board Meeting
No. of Directors entitled toattend the board meeting
May 22, 2024
5
6
June 29, 2024
August 10. 202.4
February 04, 2025
28. Meeting of shareholders of the Company
During the financial year ended March 31, 2025, only one (1) meeting of shareholders was held i.e. 34thAnnual General Meeting which was held on September 04,2024.
29. Auditors and Auditor's Report
a) Statutory Auditor
Pursuant to the provisions of Section 139 of the Companies Act, 2013, M/s. Kansal lain andAssociates (FRN: 023083N) were appointed as Statutory Auditors of the Company for the fiveconsecutive years, to hold office from the conclusion of the 34th Annual General Meeting held onSeptember 04, 2024 until the conclusion of 39,h Annual General Meeting of the Company to beheld for the financial year 2029-30, on such remuneration as may be decided. Vide notificationdated May 7, 2018 issued by the Ministry of Corporate Affairs, the requirement of annualratification has been omitted.
Further, the Auditors’ Report "with an unmodified opinion”, on the financial statements of theCompany for financial year 2024-25, forms part of this Annual Report. There was no observation,qualification, reservation or adverse remark in the Auditor’s Report. The Notes on FinancialStatements referred to in the Auditors' report are self-explanatory and therefore do not requireany further comments.
b) Secretarial Auditor
M/s. Rajesh Garg & Co., Practicing Company Secretaries, Hisar (FCS No. 5960) is to be appointedas the Secretarial Auditor in the ensuing ACM with the approval of Members of the Company for aconsecutive period of five years starting from April 01, 2025 on such remuneration as may bedecided, to conduct the Secretarial Audit of the Company.
The Secretarial Audit Report (MR-3) for financial year 2024-25 forms part of the Annual Reportas Annexure-C. The Secretarial Audit Report does not contain any qualification, reservation oradverse remark.
c) Internal Auditor
Pursuant to the provisions of Section 138 of the Act and the Companies [Accounts] Rules, 2014and on the basis of the recommendations of the Audit Committee, Mr. Kapil Mittal, CharteredAccountant (Mem. No. 542972) is the Internal Auditor for the financial year 2024-25.
The Internal audit report for financial year 2024-25 does not contain any qualification,reservation or adverse remark.
d) Cost Auditors
M/s. N. R. Goyal & Company, Cost Accountants, Delhi having Firm Registration No. 101252, wasappointed as the Cost Auditor to conduct the Cost Audit of the Company for the financial year2024-25. The remuneration to be paid to Cost Auditors as recommended and approved by theAudit Committee and Board, and to be ratified in the 35,h Annual General Meeting of the Company.
The Company has maintained all the cost records as specified by the Central Government as requiredunder sub-section (1) of section 148 of the Companies Act. 2013.
None of the Auditors of the Company have reported any fraud as specified under the second proviso ofSection 143(12) of the Companies Act, 2013.
32. Particulars of Employees and related disclosures
The ratio of the remuneration of each director to the median remuneration of the employees of thecompany for the financial year 2024-25 who is covered under provisions of Section 197(12) of theCompanies Act, 2013 read with Rules 5(1), 5(2) and 5(3) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules, 2014 are provided in Annexure D to this Report.
33. Corporate Governance
In terms of Regulation 15(2)(b) of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015, the Compliances with the provisions of Corporate Governance as specified inRegulations 17 to 27 and Clause (b) to (i) and (t) of Regulation 46(2) and para C, D and E of Schedule Vof the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, are not applicable toyour company as it is listed on the SME Exchange. Accordingly, a separate report on CorporateGovernance and the certificate from the Auditors are not required to be annexed.
34. Management's Discussion and analysis Report
Management's Discussion and Analysis Report for the year under review, as stipulated underRegulation 34(2) and (3) read with the Schedule V of SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015 is presented in a separate section forms part of the Annual Report asAnnexure E to the Board's report.
SME Exchange of National Stock Exchange of India Ltd., ("NSE Emerge”) Exchange Plaza, 5,h Floor, PlotNo. C/l, G-Block, Bandra-Kurla complex, Bandra (E), Mumbai - 400051.
36. Compliance of guidelines of SEBI/Stock Exchange
We have duly complied with all the applicable guidelines issued by SEBI/Stock Exchange.
As per Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations,2015, there is no deviation or variation in the use of funds raised through Public Issue of Equity Sharesfrom the objects stated in the Prospectus of the Company.
38. Industrial Relations
Industrial relations continued to be cordial during the year under review.
39. Business Responsibility and Sustainability Report
The Business Responsibility Sustainability Report ("BRSR") as per the requirements of Regulation34(2)(f) of the SEBI (LODR), 2015 is not mandatorily required to be given by Companies which havelisted their specified securities on the SME Exchange. Your Company has not voluntarily adopteddisclosure requirement of the Business Responsibility Report.
40. Policy on prevention of Sexual Harassment
Your Company has in place a policy on prevention of sexual harassment at workplace in accordancewith the provisions of Prevention, Prohibition and Redressal of Sexual Harassment of Women atWorkplace Act, 2013 ("POSH Act"). The policy aims at prevention of harassment of women employeesand lays down the guidelines for identification, reporting and prevention of sexual harassment. Thereis an Internal Complaints Committee which is responsible for redressal of complaints related to sexualharassment and follows the guidelines provided in the policy.
Further, in terms of the provisions of the Rule 8(5)(x) of Companies (Accounts) Rules, 2014 and SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, the details in relation to thePOSH Act, for the financial year ended on March 31, 2025 are as under:
a) Number of complaints pertaining to sexual harassment received during the financial year: NIL
b) Number of complaints pertaining to sexual harassment disposed off during the financial Year: NIL
c) Number of complaints pertaining to sexual harassment pending for more than Ninety days: NIL
The policy of the Company on Prevention of Sexual Harassment, as adopted by the Board, may beaccessed on your Company’s website at the link:
FROM-SFXUAI.-HARASSFMENT.pdf
41. Details of Subsidiary, loint Venture or Associate Companies
As on March 31, 2025, Company doesn't have any Subsidiary & |oint Venture and Associate Companiesat the end of the year.
42. Credit Rating
The Company does not have any Credit rating as of now.
43. Ppiicv on Director s appointment and remuneration
The Company has devised a policy for Appointment and Remuneration of Directors, Key ManagerialPersonnel and Senior Management Personnel. The policy also regulated the terms of appointmentsincluding retirements and removals as well. The policy of the Company on Directors’ appointmentand remuneration, adopted by the Board, may be accessed on your Company's website at the link:
https://www.qualitygroup.in/wp-content/uploads/2023/01/POLICY-ON-NOMlNATIQN-AND-REMUNERATION-COMM ri’TEE.odf
Your directors state that no disclosure or reporting is required in respect of the following items asthere were no transactions on these items during the year under review:
a) There were no issue of equity shares with differential rights as to dividend, voting or otherwise.
b) There was no Buy Back of its Securities by the Company from the Shareholders.
c) There was no issue of shares (including sweat equity shares) to the employees of the Companyunder any scheme.
d) No application has been made or any proceeding is pending against the Company under theInsolvency and Bankruptcy Code, 2016.
e) There was no instance of one-time settlement with any bank or financial institution.
f) Company does not have any subsidiary.
g) No significant or material orders were passed by the Regulators or Courts or Tribunals whichimpact the going concern status and Company's operations in future.
h) There are no shares in the demat suspense account/undaimed suspense account of theCompany.
The Company affirms that it has duly complied with all provisions of the Maternity Benefit Act, 1961,and has extended all statutory benefits to eligible women employees during the year
46. Health, Safety and environment:
The company considers safety, environment and health as the management responsibility andtherefore being constantly aware of its obligation towards maintaining and improving theenvironment across various spheres of its business activities.
The Board of Directors thanks and deeply acknowledge the co-operation, assistance and supportprovided by all the stakeholders' viz., workers, shareholders, bankers, customers, dealers, vendors,Government and Regulatory agencies.
For and on behalf of theBoard of Directors
Foils (India) Limited
Date: August 05,2025 ♦ ^Hdfdip Bhargava
Place: Hisar Chairman
DIN:00011103R/o: Anand bhawan,
Hisar, Haryana-125001