TO MEMBERS 
Dear Members,
Your Directors are pleased to present the 40th Annual Report
of Bharat Agri Fert & Realty Limited (the Company or BAFRL) along with the Audited
Financial Statements for the Financial Year ended March 31, 2025.
 FINANCIAL HIGHLIGHTS: 
The Audited Financial Statements of your Company as on March 31, 2025,
are prepared in accordance with the relevant applicable Indian Accounting Standards
("Ind AS") and Regulation 33 of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing
Regulations") and the provisions of the Companies Act, 2013 ("Act").
The summarized financial highlights are depicted below:
(Amount in Lakhs)

  

    
Particulars
    
Financial Year 2024-25
    
Financial Year 2023-24
  
  

    
Total Revenue
    
1,222.55
    
3,126.28
  
  

    
Less: Total Expenses
    
847.83
    
3,246.43
  
  

    
Profit before Tax
    
374.72
    
(324.50)
  
  

    
Tax Expenses
    
(52.10)
    
(4.29)
  
  

    
Net Profit / ( Loss ) for the
    Period
    
426.82
    
(320.21)
  
  

    
Other Comprehensive Income/
    (Loss)
    
62.46
    
(17.75)
  
  

    
Total Comprehensive
    Income/(Loss)
    
489.28
    
(337.96)
  

OPERATIONAL REVIEW & STATE OF COMPANY'S AFFAIRS:
 a) Fertilizer Division: - 
During the year due to gulf/middle east on going war situation prices
of both raw material namely rock phosphate and Sulphur was on upward trend. Last year only
Company had become debt free as far as fertilizer unit is concern, so management decided
to offer their entire fixed assets on lease cum conversion basis but due to lower amount
of subsidy fixed by doff results were not satisfactory so we decided to clear our present
stocks and liquidated with green star fertilizer limited and will continue for searching
any reliable and reputed fertilizer associates during the next year.
 b) Anchaviyo Resort: - 
During the year resort has done very good progress on existing set up
as well as future expansion project. Company has focused their activity on wed in India
mission as announced by honourable pm and we decided to set up a destination wedding which
covers 250 rooms at same place thereby accommodating 500-550 guest. present rooms can
easily accommodate 150-175 guest. we received a construction loan sanction upto Rs 57 Cr
and rest of the funds will be utilised from surplus of thane real estate project in next 3
years. Construction work of site development started and piling work will be completed
shortly for banquet, mandap and hotel with staff colony. Company had also decided to enter
into operational management for a period of 3 years at an estimated revenue of Rs 650 lakh
to 850 lakh year on year basis.
 c) Real Estate Division: - 
During the year wembely -24 work is in full swing and completed 3 slab
till now and now every month it will have additional 2/3 floor. Company has already
entered into marketing arrangement with reputed sales agency and received very good
response from buyer and Company is confident to complete the project as per RERA
(31.12.2028). After completion of entire project and sale of 457 Nos of 2/3 BHK flat
company will have revenue of Rs 800 Cr based on prevailing market rate.
 DIVIDEND: 
Your Directors have not recommended any dividend for the year ended
March 31, 2025, in order to plough back the profits for future growth and development of
the Company.
 TRANSFER TO RESERVES: 
As permitted under the Act, your Board does not propose to transfer any
amount to General Reserves. SHARE CAPITAL AND LISTING SECURITIES:
 Authorized Share Capital: 
The authorized share capital of the Company is Rs. 10,00,00,000/-
(Rupees Ten Crores Only) divided into 1,00,00,000 (One Crore) Equity Shares of INR 1/-
each.
 Paid Up Share Capital: 
The Issued, Subscribed and Paid-up equity share capital is Rs.
5,28,55,110/- (Rupees Five Crore Twenty-Eight Lakh Fifty-Five Thousand One Hundred Ten
Only) divided into 52,85,511 (Fifty-Two Lakh Eighty-Five Thousand Five Hundred Eleven)
Equity Shares of INR 1/- each.
During the Financial Year under review, there was no change in the
capital structure of the Company. The Company has not issued shares with differential
voting rights or granted any stock options or issued any sweat equity or issued any Bonus
Shares. Further, the Company has not bought back any of its securities during the year
under review and hence no further details/ information invited in this respect.
The Equity shares of the Company are listed with the BSE Limited (BSE)
and available for trading at the platforms. Annual Listing fee has been paid on time to
the BSE.
 DEPOSITORIES: 
The Company is registered with both National Securities Depository
Limited (NSDL) and Central Depository Services (India) Limited (CDSL). The shareholders
can take advantage of holding their shares in dematerialized mode.
 MANAGEMENT DISCUSSION AND ANALYSIS: 
Pursuant to Regulation 34 of the Listing Regulations 2015, the
Management Discussion and Analysis Report is attached as Annexure 'A' and forms an
integral part of this report.
 SUBSIDIARIES, ASSOCIATE COMPANIES & JOINT
VENTURES: 
During the year under review, the Company does not have any Subsidiary,
Associate Company or Joint Venture. DIRECTORS, KEY MANAGERIAL PERSONNEL & SENIOR
MANAGEMENT:
As of March 31, 2025, your Company's Board has nine members comprising
of four Executive Directors and five Independent Directors including Two Woman Director.
The details of Board and Committee composition, tenure of directors, and other details are
available in the Corporate Governance Report, which forms part of this Integrated Annual
Report.
In terms of the requirement of the SEBI Listing Regulations, your Board
has identified core skills, expertise, and competencies of the Directors in the context of
your Company's business for effective functioning. The key skills, expertise and core
competencies of your Board of Directors are detailed in the Corporate Governance Report,
which forms part of this Integrated Annual Report.
 Appointment/Cessation/Change in Designation of
Directors: 
 • Re-appointment of Directors: 
In accordance with the provisions of Section 152 of the Act, read with
rules made thereunder and Articles of Association of your Company, Ms. Chandni Yogendra
Patel (DIN: 02032483) is liable to retire by rotation at the ensuing AGM and being
eligible, offers herself for re-appointment.
 • Cessation: 
Your directors hereby regret to inform you that Shri. Kantilal Jethwa
(DIN: 00107034), Director, passed away on July 27, 2024 as a result his office was
vacated.
Your Board places on record its deep appreciation for valuable services
and guidance provided by Shri Kantilal Jethwa, during his tenure as director of the
company.
 Declaration from Independent Directors: 
Your Company has received declarations from all the Independent
Directors of your 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 SEBI Listing
Regulations and there has been no change in the circumstances, which may affect their
status as an Independent Director. The Independent Directors have also given declaration
of compliance with Rules 6(1) and 6(2) of the Companies (Appointment and Qualification of
Directors) Rules, 2014, with respect to their name appearing in the data bank of
Independent Directors maintained by the Indian Institute of Corporate Affairs ('IICA').
 Familiarization Programme of Independent
Directors: 
In compliance with the requirements of SEBI Listing Regulations, the
company has put in place a familiarization program for Independent Directors' to
familiarize them with their role, rights & responsibilities as Directors, the
operations of the Company, business overview, etc.
The details of Familiarization Programme are explained in the Corporate
Governance Report and the same is also available on the website of the Company.
 Key Managerial Personnel: 
As on the date of this report, the following are Key Managerial
Personnel ("KMPs") of your Company as per Section 203 of the Act:

  

    
Sr. No. Name of the Person
    
Designation
  
  

    
1. Shri. Yogendra Dahyabhai
    Patel
    
Chairman & Managing
    Director
  
  

    
2. Shri. Vijal Yogendra Patel
    
Chief Financial Officer
  
  

    
3. Shri. Akshay Kumar
    
Company Secretary &
    Compliance Officer
  

 CORPORATE SOCIAL RESPONSIBILITY INITIATIVES: 
The provisions of Section 135 of the Companies Act, 2013 read with the
Companies (Corporate Social Responsibility Policy) Rules, 2014, were not applicable to the
Company for the financial year ended March 31, 2025.
 NUMBER OF MEETINGS OF YOUR BOARD: 
Your Board met 7 (Seven) times during the year under review. The
intervening gap between the meetings did not exceed 120 days, as prescribed under the Act
and SEBI Listing Regulations. The details of board meetings and the attendance of the
Directors are provided in the Corporate Governance Report, which forms part of the Annual
Report.
 INDEPENDENT DIRECTORS' MEETING: 
The Independent Directors met twice in the financial year dated
February 13, 2025 and March 24, 2025, without the attendance of Non-Independent Directors
and members of the management. The Independent Directors reviewed the performance of
Non-Independent Directors, the Committees and your Board as a whole along with the
performance of the Chairman of your Company, taking into account the views of Executive
Directors and Non-Executive Directors and assessed the quality, quantity and timeliness of
flow of information between the management and your Board that is necessary for your Board
to effectively and reasonably perform their duties.
 BOARD AND COMMITTEE EVALUATION: 
Your Board adopted a formal mechanism for evaluating its performance
and as well as that of its committees and individual Directors, including the Chairman of
your Board. The exercise was carried out through a structured evaluation process covering
various aspects of your Boards functioning such as composition of your Board and
committees, experience and competencies, performance of specific duties and obligations,
contribution at the meetings and otherwise, independent judgement, governance issues etc.
At your Board meeting that followed the above-mentioned meeting of the Independent
Directors, the performance of your Board, its Committees, and individual Directors was
also discussed. The entire Board, excluding the Independent Directors has been evaluated,
did performance evaluation of Independent Directors.
 COMMITTEES OF BOARD: 
As required under the Act and the SEBI Listing Regulations, your
Company has constituted various Statutory Committees. As on March 31, 2025, your Board has
constituted the following committees:
• Audit Committee;
• Nomination and Remuneration Committee;
• Stakeholders Relationship Committee.
Details of all the committees such as terms of reference, composition,
and meetings held during the year under review are disclosed in the Corporate Governance
Report, which forms part of this Integrated Annual Report.
 RISK MANAGEMENT: 
The provisions of Regulation 21 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 pertaining to formation of Risk Management
Committee is not applicable to the company.
 INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY: 
The Directors have laid down internal financial controls to be followed
by your Company and such policies and procedures adopted by the Company for ensuring the
orderly and efficient conduct of its business, including adherence to Company's policies,
the safeguarding of its assets, the prevention and detection of frauds and errors, the
accuracy and completeness of the accounting records, and the timely preparation of
reliable financial information. The company has adopted accounting policies, which are in
line with the accounting standards and the Companies Act, 2013. The Audit Committee
evaluates the internal financial control system periodically.
 RELATED PARTY TRANSACTIONS: 
Related party transactions that were entered into during the financial
year were on arm's length basis and were in ordinary course of business. There are no
materially significant related party transactions made by the Company, which may have
potential conflict with the interest of the Company. There is no material related party
transactions which are not in ordinary course of business or which are not on arm's length
basis and hence there is no information to be provided as required under Section 134(3)(h)
of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014.Suitable
disclosures on related party transactions as required by the Indian Accounting Standard
have been made in the notes to Financial Statements.
 REPORT ON CORPORATE GOVERNANCE: 
Your Company is committed to maintain highest standards of corporate
governance practices. The Corporate Governance Report, as stipulated by SEBI Listing
Regulations, 2015, forms part of this Annual Report along with the requisite certificate
from GMJ & Associates, Practicing Company Secretary (Membership No. F2405, COP No.
1432), regarding compliance of the conditions of corporate governance, as stipulated. In
compliance with corporate governance requirements as per the SEBI Listing Regulations,
2015, your Company has formulated and implemented a Code of Conduct for all Board members
and senior management personnel of your Company ("Code of Conduct"), who have
affirmed the compliance thereto. The Code of Conduct is available on the website of your
Company at https://www.bafrl.com/investor-center.php7subcategory
id=21 .

 LOANS, GUARANTEE OR INVESTMENTS: 
Particulars of Loan/Investments made during the financial year under
the provisions of Section 186 of the Companies Act, 2013, have been disclosed in the of
the financial statements forming an integral part of the Annual Report.
 AUDITORS AND AUDIT REPORTS: 
 Statutory Auditor: 
Pursuant to Section 139 of the Act read with rules made thereunder, as
amended, M/s. Desai Saksena & Associates, Chartered Accountants, (Firm Registration
No. 102358W) were appointed as the Statutory Auditors of your Company, for the first term
of five years from the conclusion of 38th Annual General Meeting (AGM) until
the conclusion of 43rd AGM of your company to be held in the year 2028.
The Statutory Auditors have confirmed that they are not disqualified to
continue as Statutory Auditors and are eligible to hold office as Statutory Auditors of
your Company.
The Reports given by M/s. Desai Saksena & Associates, Chartered
Accountants, (Firm Registration No. 102358W) on the standalone financial statements of the
Company for FY 2024-25 are part of the Annual Report.
The qualification given by M/s. Desai Saksena & Associates,
Chartered Accountants, (Firm Registration No. 102358W) on the standalone financial
statements of the Company for FY 2024-25 and replies of the management thereto is provided
as Annexure- 'B' of this report.
 Secretarial Auditors and Secretarial Audit Report: 
 Appointment of Secretarial Auditors: 
Pursuant to the provisions of Sections 204 of the Act read with Rule 9
of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and
Regulation 24A of Listing Regulations, and other applicable provisions framed thereunder,
as amended, the Board of Directors, on the recommendations of the Audit Committee, in its
meeting held on May 30, 2025 has recommended to the shareholders of the Company, an
appointment of M/s GMJ & Associates, Company Secretaries, Peer Review Certificate no.
6140/2024) as the Secretarial Auditors of the Company for a first term of five consecutive
years commencing from FY 2025-26 till FY 2029-30, subject to approval of the Members at
the ensuing AGM.
The Company has received the consent & eligibility certificate from
M/s GMJ & Associates, Company Secretaries and that the appointment, if made, shall be
in accordance with the applicable provisions of the Act and rules framed thereunder and
Listing Regulations.
 Secretarial Audit Report: 
The report of the Secretarial Auditor in Form No. MR-3 is annexed
herewith as Annexure- 'C' to this Report. There are no qualifications, reservations or
adverse remarks or disclaimer made by the Secretarial Auditors in their Secretarial Audit
Report for the year ended March 31, 2025.
The observations given by the Secretarial Auditors in their report are
self-explanatory and do not call for further explanation.
Further, in terms of the provisions of the Circular No. CIR/
CFD/CMD1/27/2019 dated February 8, 2019 issued by Securities and Exchange Board of India
(SEBI), M/s. GMJ & Associates, Practicing Company Secretaries have issued the Annual
Secretarial Compliance Report for the financial year ended March 31, 2025, thereby
confirming compliance of the applicable SEBI Regulations and circulars/ guidelines issued
there under by the Company.
 Cost Audit: 
During the year under review, in accordance with Section 148(1) of the
Act, your Company has maintained the accounts and cost records, as specified by the
Central Government. Such cost accounts and records are subject to audit by M/s. S.R. Singh
& Co., Cost Accountants (Firm Registration No: 101398), Cost Auditors of your Company
for FY 24-25.
Your Board has appointed M/s. S.R. Singh & Co., Cost Accountants
(Firm Registration No.: 101398), as Cost Auditors of your Company to conduct cost audit
for the FY 2025-26. A resolution seeking approval of the Shareholders for ratifying the
remuneration payable to the Cost Auditors for FY 2025-26 has provided in the Notice of the
ensuing AGM.
The cost accounts and records as required to be maintained under
section 148 (1) of the Act are duly made and maintained by your Company
 Internal Audit: 
Pursuant to the provisions of Section 138 of the Companies Act, 2013
the Board on the recommendation of the Audit Committee has appointed M/s. KCPL and
Associates LLP, Chartered Accountants as Internal Auditors of the Company for the
financial year 2024-25.
Your Board in its meeting held on May 30, 2025 has appointed M/s. PSRD
& Co., Chartered Accountants (FRN: 126390W), as Internal Auditors of the Company to
conduct Internal Audit for the FY 2025-26.
 Reporting of frauds by Auditors: 
During the year under review, the Statutory Auditors and Secretarial
Auditor of your Company have not reported any instances of fraud committed in your Company
by Company's officers or employees, to the Audit Committee, as required under Section
143(12) of the Act.
 DIRECTORS RESPONSIBILITY STATEMENT: 
Pursuant to Section 134(5) of the Act, your Board, to the best of their
knowledge and based on the information and explanations received from the management of
your Company, confirm that:
a) in the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to material departures,
if any;
b) they have selected such accounting policies and applied them
consistently and judgments and estimates that are reasonable and prudent so as to give a
true and fair view of the state of affairs of your Company at the end of the financial
year and of the profit of your Company for that period;
c) proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the Act for safeguarding
the assets of your Company and for preventing and detecting fraud and other
irregularities;
d) the annual financial statements have been prepared on a going
concern basis;
e) they have laid down internal financial controls to be followed by
your Company and that such internal financial controls are adequate and operating
effectively;
f) proper systems have been devised to ensure compliance with the
provisions of all applicable laws and that such systems are adequate and operating
effectively.
 EXTRACTS OF ANNUAL RETURN: 
Pursuant to Section 134(3)(a) of the Act, the draft annual return as on
March 31, 2025 prepared in accordance with Section 92(3) of the Act is made available on
the website of your Company and can be accessed using the link http: / / www.bafrl.com .

 PARTICULARS REGARDING CONSERVATION OF ENERGY,
TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO: 
The information on conservation of energy, technology absorption and
foreign exchange earnings and outgo pursuant to Section 134(3)(m) of the Companies Act,
2013, read with the Rule 8(3) of the Companies (Accounts) Rules, 2014 is given in Annexure
'D' to this Report.
 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- 'E' to this report.
 COMPLIANCE WITH SECRETARIAL STANDARDS: 
During the year under review, your Company has complied with all the
applicable provisions of Secretarial Standard-1 and Secretarial Standard-2 issued by the
Institute of Company Secretaries of India.
 VIGIL MECHANISM / WHISTLE BLOWER POLICY: 
Your Company has adopted a whistle blower policy and has established
the necessary vigil mechanism for directors and employees in confirmation with Section 177
of the Act and Regulation 22 of SEBI Listing Regulations, to facilitate reporting of the
genuine concerns about unethical or improper activity, without fear of retaliation. The
vigil mechanism of your Company provides for adequate safeguards against victimization of
whistle blowers who avail of the mechanism and provides for direct access to the Chairman
of the Audit Committee in exceptional cases.
No person has been denied access to the Chairman of the Audit
Committee. The said policy is uploaded on the website of your Company at https://bafrl.com/investor-center.php7subcategory
id=21 .

 DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT
WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013: 
The Company is committed to providing a safe and conducive work
environment to all of its employees and associates. The Company has created the framework
for individuals to seek recourse and redressal to instances of sexual harassment. The
Company has in place a Policy in line with the requirements of the Sexual Harassment of
Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH, 2013). The
policy formulated by the Company for prevention of sexual harassment is available on the
website of the Company at link http: / / www.bafrl.com .

The Company has complied with the provision relating to the
constitution of Internal Committee under POSH, 2013. In the Board Meeting held on January
10, 2025, the Company had reconstituted the Internal Committee. During the year under
review, no complaint pertaining to sexual harassment at work place has been received by
the Company. or During the year under review, NIL complaints pertaining to sexual
harassment at work place has been received by the Company. The following is the status of
complaints received and resolved during the financial year:
Number of complaints received: 0
Number of complaints disposed off: 0
Number of complaints pending beyond 90 days: 0
The above reflects the Company's commitment to timely and effective
redressal of complaints.
 COMPLIANCE WITH THE MATERNITY BENEFIT ACT, 1961: 
The Company has complied with the provisions of the Maternity Benefit
Act, 1961, including all applicable amendments and rules framed thereunder. The Company is
committed to ensuring a safe, inclusive, and supportive workplace for women employees. All
eligible women employees are provided with maternity benefits as prescribed under the
Maternity Benefit Act, 1961, including paid maternity leave, nursing breaks, and
protection from dismissal during maternity leave. The Company also ensures that no
discrimination is made in recruitment or service conditions on the grounds of maternity.
Necessary internal systems and HR policies are in place to uphold the spirit and letter of
the legislation.
 GENDER-WISE COMPOSITION OF EMPLOYEES: 
In alignment with the principles of diversity, equity, and inclusion
(DEI), the Company discloses below the gender composition of its workforce as on the March
31, 2025.
Male Employees: 81 Female Employees: 13 Transgender Employees: 0
This disclosure reinforces the Company's efforts to promote an
inclusive workplace culture and equal opportunity for all individuals, regardless of
gender.
 GENERAL DISCLOSURES: 
 Public Deposits: 
The Company has not accepted any deposits from the public within the
meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of
Deposits) Rules, 2014.
 Material Changes and Commitments affecting
Financial Position between the end of the Financial Year and Date of Report: 
There were no material changes affecting the financial position of the
Company between the end of the financial year and date of report.
 Changes in Nature of Business: 
No significant changes had been made in the nature of the business of
the Company during the financial year ended March 31, 2025.
 Significant and material orders passed by the
Regulators or Courts: 
There are no significant and material orders passed by the Regulators
or Courts that would impact the going concern status of the Company and its future
operations during the financial year ended March 31, 2025.
 Depository Services: 
The Company's Equity Shares have been admitted to the depository
mechanism of the National Securities Depository Limited (NSDL) and also the Central
Depository Services (India) Limited (CDSL). As a result, the investors have an option to
hold the shares of the Company in a dematerialized form in either of the two Depositories.
The Company have been allotted ISIN No. INE842D01029. Shareholders are requested to take
full benefit of the same and lodge their holdings with Depository Participants [DPs] with
whom they have their Demat Accounts for getting their holdings in electronic form.
 Code of Conduct: 
Your Company is committed to conducting its business in accordance with
the applicable laws, rules and regulations and highest standards of business ethics. In
recognition thereof, the Board of Directors has implemented a Code of Conduct for
adherence by the Directors, Senior Management Personnel and Employees of the Company. This
will help in dealing with ethical issues and also foster a culture of accountability and
integrity. The Code has been posted on the Company's website www.bafrl.com  in. All the Board Members and Senior
Management Personnel have confirmed compliance with the Code.

 Safety, Environment Control and Protection: 
The Company is aware of the importance of environmentally clean and
safe operations. The Company's policy requires conduct of operations in such a manner, so
as to ensure safety of all concerned, compliances, environmental regulations and
preservation of natural resources at the Plant.
 Listing: 
The Company's Shares are listed on BSE Limited, Mumbai.
 Internal Financial Control and their adequacy: 
The company has in place adequate, internal financial controls
commensurate with the size, scale and complexity of its operations. The Company has
policies and procedures in place for ensuring proper and efficient conduct of its
business, the safeguarding of its assets, the prevention and detection of frauds and
errors, the accuracy and completeness of the accounting records and the timely preparation
of reliable financial information. The company has adopted accounting policies, which are
in line with the accounting standards and the Companies Act, 2013.
 Details of application made or proceeding pending
under insolvency and bankruptcy code, 2016: 
During the year under review, there were no applications made or
proceedings pending in the name of the company under the Insolvency and Bankruptcy Code,
2016.
 Details of difference between valuation amount on
one-time settlement and valuation while availing loan from banks and financial
institutions: 
The company has not entered into one-time settlement of loans from
banks and financial institutions. Hence the said clause is not applicable to the company
for the financial year ended March 31, 2025.
 APPRECIATION: 
Your Directors wish to place on record their sincere appreciation to
the Central Government, State Government, Thane Municipal Corporation, Agricultural
Department, Company's Banker, Shareholders, Customers and business consultants for their
valued co-operation and support at all times.
Your Directors also wish to place on record their appreciation for hard
work, solidarity, co-operation and support of employees at all levels.
 FOR AND ON BEHALF OF THE BOARD FOR BHARAT AGRI
FERT & REALTY LIMITED 

  

    
Registered Office:
    
YOGENDRA DAHYABHAI PATEL
  
  

    
301, 3rd
    Floor, Hubtown Solaris, N. S. Phadke Marg, Near Gokhale Bridge, Andheri (East), Mumbai -
    400 069 CIN: L24100MH1985PLC036547 Email: bfilshivsai@email.com .
    Website: http://www.bafrl.com .
    
CHAIRMAN & MG. DIRECTOR
  
  

    
(DIN: 00106864)
  
  

    

  
  

    
Place: Mumbai
    

  
  

    
Date: August 13, 2025