To, he Members,
Your Directors are pleased to present the 5th Annual Report
on the business and operations of the Company along with the Audited Financial Statement
for the Financial Year ended on 31st March, 2026
1. FINANCIAL RESULTS:
The financial performance of the Company for the Financial Year ended
on 31st March, 2026 and for the previous financial year ended on 31st
March, 2025 is given below:
(Rs. In Lakhs)
| Particulars |
Financial Year 2025-26 |
Financial Year 2024-25 |
| Revenue from Operations |
8589.51 |
5248.51 |
| Other Income |
0.00 |
0.04 |
| Total Revenue |
8589.51 |
5248.56 |
| Total Expenses |
8108.93 |
4796.85 |
| Profit / Loss before Depreciation, Exceptional and Extra
Ordinary Items and Tax Expenses |
483.96 |
454.85 |
| Depreciation Interest |
3.38 |
3.14 |
| Less: Exceptional and Extra Ordinary Items |
- |
- |
| Profit / Loss before Tax Expenses |
480.57 |
451.71 |
| Less: Current Tax |
43.33 |
76.60 |
| Deferred Tax |
0.99 |
0.24 |
| Prior period tax |
- |
- |
| Profit / Loss for the Period |
436.25 |
374.87 |
| Earnings Per Share (EPS) |
|
|
| Basis |
15.93 |
13.69 |
| Diluted |
15.93 |
13.69 |
2. OPERATIONS:
Total revenue from operations for the FY 2025-26 rose to Rs. 8589.51
Lakhs against Rs. 5248.51 Lakhs during the previous FY 2024-25. The Company has incurred
Profit before tax for the FY 2025- 26 Rs. 480.57 Lakhs against Rs. 451.71 Lakhs during the
previous FY 2024-25. The Net Profit after tax for the Financial Year was Rs. 436.25 Lakhs
compared to Rs. 374.87 Lakhs during the previous FY 2024-25. The Directors are
continuously looking for the new avenues for future growth of the Company and expect more
growth in the future period.
3. CHANGE IN NATURE OF BUSINESS. IF ANY:
During the Financial Year 2025-26, there was no change in nature of
Business of the Company.
4. WEBLINK OF ANNUAL RETURN:
Pursuant to Section 92(3) read with Section134(3)(a) of the Act, the
Annual Return as on March 31,2026 is available on the Company's website at www.stanbikagro.com
5. SHARE CAPITAL:
A. AUTHORISED SHARE CAPITAL:
The authorized share capital of the Company as on 31st
March, 2026 is Rs. 15,00,00,000/- (Rupees Fifteen Crores Only) divided into 1,50,00,000
(Rupees One Crore and fifty Lakhs Only) Equity Shares of Rs. 10/each.
B. ISSUED, SUBSCRIBED AND PAID-UP SHARE CAPITAL:
During the year, the Company has allotted shares by way of following
Issues
| Type of Issue |
Type of Shares |
Number of Shares Issued |
Total amount (Rs)(Including Premium) |
| 1. Fresh issue through IPO |
Equity shares |
4094000 |
12,28,20,000 |
• Issue of Equity shares through IPO
During the year, the Paid-up Capital of the company was increased by
Fresh issue through Initial Public offer of 4,094,000 Equity Shares face Value of Rs. 10/-
each fully paid ("Equity Shares") at an Issue Price of Rs. 30/- Per Equity Share
(Including a Share Premium of Rs. 20/- Per Equity Share), Aggregating Rs. 12,28,20,000/-.
The aforementioned equity shares were allotted on December 17th,
2025. The equity shares of the company got listed on BSE SME on December 19th
,2025.
Therefore, the revised Capital structure as on March 31,2026 is as
follows:
| Issued, Subscribed and Paid-Up Share Capital |
13,32,48,470 |
6. DIVIDEND:
Due to future prospectus of the Company, the directors have not
recommended any dividend to the shareholders
7. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION
FUND:
The Company did not have any funds lying unpaid or unclaimed for a
period of seven years. Therefore, there were no funds which were required to be
transferred to Investor Education and Protection Fund (IEPF).
8. TRANSFER TO RESERVES:
The Profit of the Company for the Financial Year ending on 31st
March, 2026 is transferred to profit and loss account of the Company under Reserves and
Surplus.
9. DISCLOSURES RELATING TO HOLDING. SUBSIDIARY. ASSOCIATE COMPANY AND
JOINT VENTURES:
The Company does not have any Holding / Subsidiary / Associate Company
and Joint Venture.
10. LISTING
The equity shares of the Company are listed on the SME Platform of the
Bombay Stock Exchange of India Limited with effect from December 19, 2025. The Company has
paid the annual listing fees to the BSE and is in compliance with all applicable listing
regulations.
11. MATERIAL CHANGES AND COMMITMENTS. IF ANY. AFFECTING THE FINANCIAL
POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH
THE FINANCIAL STATEMENTS RELATES AND THE DATE OF THE REPORT:
The Company successfully completed its Initial Public Offer (IPO)
during the year. The IPO was open for subscription from December 12, 2025 to December 16,
2025. The Company issued 40,94,000 equity shares of face value Rs 10 each at an issue
price of Rs 30 per share including a premium of Rs 20 per share, through a fresh issue.
The Board of Directors approved the Basis of Allotment, and the equity
shares were allotted to the successful applicants. The shares were credited to the
respective shareholders' demat accounts.
Apart from the above, there have been no material changes and
commitments affecting the financial position of the Company between the end of the
financial year and the date of this report.
12. SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR
COURTS OR TRIBUNALS:
No significant material orders have been passed by the Regulators or
Courts or T ribunals impacting the going concern status and Company's operations in
future.
13. BOARD MEETINGS:
The Directors of the Company met at regular intervals at least once in
a quarter with the gap between two meetings not exceeding 120 days to take a view of the
Company's policies and strategies apart from the Board Matters.
During the year under the review, the Board of Directors met 11
(Eleven) times. The details of Board Meetings and attendance therein are as under:
| Sr. No |
Date of the Board Meeting |
Number of Directors entitled to attend |
Number of Directors who attended |
| 1 |
30-04-25 |
5 |
5 |
| 2 |
06-05-25 |
5 |
5 |
| 3 |
27-05-25 |
5 |
5 |
| 4 |
31-07-25 |
5 |
5 |
| 5 |
05-09-25 |
5 |
5 |
| 6 |
07-11-25 |
5 |
5 |
| 7 |
14-11-25 |
5 |
5 |
| 8 |
28-11-25 |
5 |
5 |
| 9 |
08-12-25 |
5 |
5 |
| 10 |
17-12-25 |
5 |
5 |
| 11 |
30-01-26 |
4 |
4 |
14. DIRECTORS' RESPONSIBILITY STATEMENT:
In accordance with the provisions of Section 134 (3)(c) and Section
134(5) of the Companies Act, 2013, to the best of their knowledge and belief the Board of
Directors hereby submit that:
a. In the preparation of the Annual Accounts, for the year ended on 31st
March, 2026 the applicable accounting standards have been followed and there are no
material departure from the same;
b. The Directors had 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 financial
year and of the profit of the company for the financial year ended on 31st
March, 2026;
c. The Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the provisions of Companies
Act, 2013 for safeguarding the assets of the company and for preventing and detecting
fraud and other irregularities;
d. The Directors had prepared the Annual Accounts on a going concern
basis;
e. The Directors had 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 had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were adequate and operating
effectively.
15. CORPORATE SOCIAL RESPONSIBILITY fCSRl:
The provisions of Section 135 of the Companies Act, 2013 is not
applicable to the Company as the Company does not fall under the criteria limits mentioned
in the said section of the Act.
16. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION
186 OF THE COMPANIES ACT.2013:
The Company has not given any loans, guarantees, securities covered or
investments made under the provisions of section 186 of the Companies Act, 2013.
17. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
The Management Discussion and Analysis Report as required under
Regulation 34 and Schedule V of the SEBI (Listing Obligation and Disclosure Requirements)
Regulations, 2015 forms an integral part of this Report, and provides the Company's
current working and future outlook as per "Annexure -I"
18. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES:
There were no contract or arrangements made with related parties as
defined under section 188 of the Companies Act, 2013 during the year under the review as
per "Annexure-III"
19. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The Policies & Procedures adopted by the company ensure orderly
& efficient conduct of the business, including adherence to company's policies,
safeguarding the assets, prevention and detection of frauds & errors, accuracy &
completeness of the accounting records and timely preparation of reliable financial
information.
20. RISK MANAGEMENT
The Management met periodically for identifying, assessing, mitigating
and monitoring of all risks associated with the business of the Company. The Risk
Management process that is followed to identify, assess and prioritize risks that need to
be minimized, monitored and mitigated is quite elaborate. These measures help in reducing
and controlling the impact of adverse events and maximize the realization of
opportunities. The Board periodically reviews key business risks and mitigation measures.
The Company's management is responsible for establishing and
maintaining internal financial controls based on the internal control over financial
reporting criteria established by the Company considering the essential components of
internal control stated in the Guidance Note on Audit of Internal Financial Controls over
Financial Reporting issued by the Institute of Chartered Accountants of India
(‘ICAI'). These responsibilities include the design, implementation and
maintenance of
adequate internal financial controls that were operating effectively
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, as required under the Act.
Based on the assessment carried out, the Board is of the opinion that
the internal financial controls with reference to financial statements are adequate and
operating effectively.
21. A) CONSERVATION OF ENERGY
| (i) e steps taken or impact on conservation of energy |
a.The operations of the Company are not energy-intensive.
However, significant measures are taken to |
| (ii) The steps taken by the Company for utilizing alternate
sources of energy |
reduce energy consumption by using energy-efficient
equipment. The Company constantly evaluates and invests in new technology to make |
| (iii) The capital investment on energy conservation
equipment. |
its infrastructure more energy efficient and also under cost
reduction measure the management has internally issued different circulars for use of
natural light in place of tube lights; Administration keeps a regular check on whether the
Computer systems provided to the employees have been shut down properly at the time of
closure of office etc. b. No new investment is made on such energy saving devices during
the financial year. c. Further, since energy costs comprise a very small part of your
Company's total expenses, the financial implications of these measures are not
material. |
B) TECHNOLOGY ABSORPTION
| (i) 'he efforts made towards technology absorption |
The Company keeps itself updated with the
latest technology and developments in the market. The Company makes continuous efforts to
improve its technology and keep it in line with industry standards. |
| (ii) The benefits derived like product improvement, cost
reduction, product development or import substitution |
The above efforts have led to rise in
quality of Company's offering with affordable pricing and enhanced features. |
| (iii) The case of imported technology (importe d during the
last three years reckoned from the beginning of the financial year) |
|
| (a) The details of technology imported |
NA |
| (b) The year of import |
NA |
| (c) Whether the technology been fully absorbed |
NA |
| (d) If not fully absorbed, areas where absorption has not
taken place, and the reasons thereof |
NA |
| (iv) The expenditure incurred on Research and Development |
Nil |
C) FOREIGN EXCHANGE EARNINGS AND OUTGOING
There is no Foreign Exchange Earning and Outgoing is there during the
year.
22. POLICY ON DIRECTOR'S APPOINTMENT AND REMUNERATION:
The provisions of Section 178 (1) relating to constitution of
Nomination and Remuneration Committee are applicable to the Company and hence the Company
has devised a policy relating to appointment of Directors, payment of Managerial
Remuneration, Director's qualifications, positive attributes, independence of
Directors and other related matters as provided under section 178 (3) of the Companies
Act, 2013.
However, the Board of Directors of the Company are selected considering
their qualifications, experience, positive attributes, and their utility for the
development of the Company.
23. SECRETARIAL STANDARDS:
During the year under review, the Company has complied with the
applicable Secretarial Standards issued by the Institute of Company Secretaries of India
(ICSI). The Company has devised proper systems to ensure compliance with its provisions
and is in compliance with the same.
24. REPORTING OF FRAUDS BY THE AUDITORS:
During the year under review, neither the Statutory nor the Secretarial
Auditors has reported to the Audit Committee under Section 143(12) of the Companies Act,
2013 any instances of fraud committed against the Company by its officers or employees,
the details of which would need to be mentioned in the Board's Report.
25. STATE OF COMPANY'S AFFAIRS:
Management Discussion and Analysis Report for the year under review, as
stipulated in Regulation 34(2)(e) of SEBI Listing Regulations is given as a separate part
of the Annual Report. It contains a detailed write up and explanation about the
performance of the Company as Annexure I
26. STATEMENT ON ANNUAL EVALUATION OF BOARD'S PERFORMANCE:
Pursuant to the provisions of Companies Act, 2013 and SEBI (Listing
Obligation and Disclosure Requirement)Regulations, 2015, the Board has carried out annual
performance evaluation of its own performance, the directors individually as well the
evaluation of the working of its Audit, Nomination & Remuneration and Stakeholder
committee ,including the Chairperson of the Board who were evaluated on parameters such as
level of engagement and contribution and independence of judgment thereby safeguarding the
interest of the Company. The performance evaluation of the Independent Directors was
carried out by the entire Board. The performance evaluation of the Chairperson and the
Non-Independent Directors was carried out by the Independent Directors. The Directors
expressed their satisfaction with the evaluation process.
27. VIGIL MECHANISM / WHISTLE BLOWER POLICY:
Pursuant to the provisions of Section 177(9) of the Companies Act, 2013
read with Rule 7 of the Companies (Meetings of Board and its Powers) Rules, 2014, the
Company had adopted ‘Vigil Mechanism / Whistle Blower Policy' for Directors and
employees. A mechanism has been established for employees to report concerns about
unethical behaviour, actual or suspected fraud, or violation of Code of Conduct and
Ethics. It also provides for adequate safeguards against the victimization of employees
who avail of the mechanism and allows direct access to the Board of Directors in
exceptional cases. The Board will periodically review the functioning of Whistle Blower
Mechanism. During the Financial Year under review, no whistle blower event was reported
and mechanism functioning well. No personnel have been denied access to the Chairperson of
Audit Committee. The policy is available on the website of the company at www.stanbikagro.com.
28. PARTICULARS OF EMPLOYEES:
During the financial year under review, none of the employees of the
Company was in receipt of remuneration exceeding the limits prescribed under Rule 5(2) of
the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014."
29. 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.
30. CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS
Pursuant to the provisions of Regulation 34(3) and Schedule V Para C
clause (10) (i) of SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, A certificate from M/s. Monika Chechani & Associates, Practicing Company
Secretary certifying that none of the directors on the Board of the Company have been
debarred or disqualified from being appointed or continuing as directors of the Company by
SEBI or MCA or any such statutory authority, it is enclosed as "Annexure II".
31. DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME
SETTLEMENT AND VALUATION WHILE AVAILING LOAN FROM BANKS AND FINANCIAL INSTITUTIONS:
During the year under review, there has been no onetime settlement of
Loans taken from Banks and Financial Institutions.
32. DIRECTORS AND KEY MANAGERIAL PERSONNEL:
The Directors and Key Managerial Personnel of the Company as on
31.03.2026 are summarized below:
| Sr. No. Name |
Designation |
Board meeting attendance |
| 1. Mr. Ashokbhai Dhanajibhai Prajapati |
Managing Director |
11/11 |
| 2. Mr. Ashokbhai Dhanajibhai Prajapati |
CFO |
11/11 |
| 3. Mr. Chirag Ashokbhai Prajapati |
Director |
11/11 |
| 4. Mrs Ruchi Nagori |
Independent Director |
11/11 |
| 5. Mrs Priyanka Sharma |
Independent Director |
11/11 |
| 6. Mrs Arzoo Rabari* |
Independent Director |
10/11 |
| 7 Mrs. Pooja Manthan Patel* |
Company Secretary |
10/11 |
* Mrs. Arzoo Rabari was resigned from the post of Independent Director
w.e.f 30.01.2026
Ms.Pooja Manthan Patel, Company Secretary and Compliance officer
resigned from the Company w. e. f. 30.01.2026.
The Company has obtained a certificate from M/s, Monika Chechani &
Associates, Practising Company Secretary, Ahmedabad stating that none of the Directors on
the board of the Company have been debarred /disqualified from being appointed /continuing
as directors of any Company by the SEBI and Ministry of Corporate Affairs or any such
Statutory Authority.
33. DIRECTOR RETIRE BY ROTATION
In accordance with the provisions of the companies Act, 2013, and the
articles of the association of the company, Mr. Ashokbhai Dhanajibhai Prajapati, Executive
Director retires by rotation at the forthcoming 5th Annual General meeting and being
eligible, offers himself for re-appointment.
34. DECLARATION BY INDEPENDENT DIRECTORS:
Independent Directors of the Company have confirmed to the Board that
they meet the criteria of Independence as specified under Section 149 (6) of the Companies
Act, 2013 and are qualified to be Independent Director. They also confirmed that they meet
the requirements of Independent Director as mentioned under Regulation 16(1)(b) of SEBI
(Listing Obligation and Disclosure Requirements) Regulations, 2015. The confirmations were
noted by the Board.
35. CORPORATE GOVERNANCE:
As per regulation 15(2) of the Listing Regulation, the Compliance with
the Corporate Governance provisions shall not apply in respect of the following class of
the Companies:
a. Listed entity having paid up equity share capital not exceeding Rs.
10 Crore and Net worth not exceeding Rs. 25 Crore, as on the last day of the previous
financial year;
b. Listed entity which has listed its specified securities on the SME
Exchange.
Since, our Company falls in the ambit of aforesaid exemption (b); hence
compliance with the provisions of Corporate Governance shall not apply to the Company and
it does not form the part of the Annual Report for the financial year 2025-26.
36. PREVENTION OF INSIDER TRADING
The Company is committed to maintaining the highest standards of
transparency, integrity and fairness in the conduct of its business and in the handling of
Unpublished Price Sensitive Information ("UPSI").
Pursuant to the provisions of the Securities and Exchange Board of
India (Prohibition of Insider Trading) Regulations, 2015, as amended from time to time
("PIT Regulations"), the Company has adopted a Code of Conduct to Regulate,
Monitor and Report Trading by Designated Persons and their Immediate Relatives, as well as
a Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive
Information, in compliance with the PIT Regulations.
The Company has also established appropriate internal controls and
procedures to monitor the handling and dissemination of UPSI and maintains a Structured
Digital Database in accordance with the requirements of the PIT Regulations. The Company
regularly sensitizes its Designated Persons regarding their obligations under the PIT
Regulations and the Code of Conduct to ensure compliance with the applicable regulatory
framework.
No violation of the Code of Conduct was reported during the year.
37. DEPOSITS:
As per Section 73 of the Companies Act, 2013, the Company has neither
accepted nor renewed any deposits during the financial year. Hence, the Company has not
defaulted in repayment of deposits or payment of interest during the financial year.
38. FORMAL ANNUAL EVALUATION PROCESS BY BOARD:
Pursuant to the provisions of the Companies Act, 2013 and Rules made
thereunder, the Board has carried the evaluation of its own performance, performance of
Individual Directors, Board Committees, including the Chairman of the Board on the basis
of attendance, contribution towards development of the Business and various other criteria
as recommended by the Nomination and Remuneration Committee of the Company. The evaluation
of the working of the Board, its committees, experience and expertise, performance of
specific duties and obligations etc. were carried out. The Directors expressed their
satisfaction with the evaluation process and outcome.
In a separate meeting of Independent Directors, the performances of
Executive and Non - Executive Directors were evaluated in terms of their contribution
towards the growth and development of the Company. The achievements of the targeted goals
and the achievements of the expansion plans were too observed and evaluated, the outcome
of which was satisfactory for all the Directors of the Company.
39. FAMILIARISATION PROGRAMMME FOR INDEPENDENT DIRECTORS
The Company has conducted a familiarisation programme for its
Independent Directors to enable them to understand the Company's business, operations,
roles and responsibilities as Directors.
The programme includes an overview of the Company's business
activities, industry scenario, regulatory updates, Company policies, and other relevant
matters to assist Independent Directors in effectively contributing to the Board's
functioning.
The details of the Familiarisation Programme are available on the
Company's website www.stanbikagro.com
40. AUDITORS:
A. Statutory Auditor:
M/s. S. K Bhavsar & Co., Chartered Accountants, Ahmedabad (Firm
Registration No. 145880W), were appointed as the Statutory Auditors of the Company as per
the terms of five years by the members at the 4th Annual General Meeting held on 30th
September,2025 and they hold office upto the conclusion of the Annual General Meeting to
be conducted in 2029-30. Accordingly, they continue to be the Statutory Auditors of the
Company.
The Auditor's Report for the financial year ended on 31st
March,2026 has been issued with an unmodified opinion by the Statutory Auditors and the
report is part of the Annual report.
B. Secretarial Auditor:
The Board of Directors pursuant to Section 204 of the Companies Act,
2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, has appointed Mrs Monika Gaurav Gupta, Proprietor of M/s. Monika
Chechani & Associates, Company Secretaries, Ahmedabad as a Secretarial Auditor for
period 2025-26 and the Board recommends their appointment for a further term of five
consecutive years, from the conclusion of this 5th Annual General meeting till the
conclusion of the 10th Annual General Meeting of the Company to conduct Secretarial Audit.
The Secretarial Audit Report for the Financial Year 2025-26 is annexed
herewith as Annexure - VI in Form MR-3.
The Secretarial Audit Report contains certain observations, which have
been duly noted by the Board. The explanations of the Board in respect of such
observations are provided below:
i. Delay in implementation/data entry in the Structured Digital
Database ("SDD"):
The Company had adopted the Structured Digital Database
("SDD") mechanism/software for recording and maintaining the requisite
information. However, certain entries were made after the prescribed timeline during the
period under review. The delay was primarily procedural and inadvertent in nature. The
Company has taken appropriate corrective measures to ensure that the requisite information
is recorded and maintained within the prescribed timelines going forward.
ii. Delay in updating information/documents on the Company's website:
The Company acknowledges that there were certain instances of delay in
updating the requisite information and documents on its website within the prescribed
timelines. The delays were inadvertent and procedural in nature and did not involve any
deliberate non-compliance. The Company has reviewed its internal compliance and monitoring
mechanisms and has taken appropriate steps to strengthen the process to ensure timely
updating of all information and documents required to be hosted on the Company's website
in future.
C. Cost Auditor:
Maintenance of cost records as specified under Companies Act, 2013 is
not applicable to the Company.
D.Internal Auditor
Pursuant to the provisions of Section 138 of the Companies Act, 2013
& the rules made there under (including any statutory modification(s) or
reenactment(s) thereof, for the time being in force), the board of directors of the
Company, at their meeting held on 17.12.2025 had appointed M/s D D SHAH & CO (having
FRN: 145713W), Chartered Accountants, Ahmedabad as Internal Auditors to conduct Internal
Audit for the financial year 2025-26
41. COMMITTEE OF THE BOARD:
A. Audit Committee:
During the year under review, 5 meetings of members of the Audit
Committee were held. The details of the Audit Committee are as tabulated below:
| Date of the Audit Committee Meeting |
Priyanka Sharma Chairman |
Arzoo Raghubhai Rabari * Member |
Ruchi Nagori Member |
| 30.04.2025 |
Yes |
Yes |
Yes |
| 27.05.2025 |
Yes |
Yes |
Yes |
| 05.09.2025 |
Yes |
Yes |
Yes |
| 28.11.2025 |
Yes |
Yes |
Yes |
| 30.01.2026 |
Yes |
No |
Yes |
*Ms. Arzoo Raghubhai Rabari resigned from the Audit Committee w.e.f
30.01.2026 B. Nomination and Remuneration Committee:
During the year under review, 1 meetings of members of the Nomination
and Remuneration Committee were held. The details of the Nomination and Remuneration
Committee are as tabulated below:
| Date of the Nomination and Remuneration Committee Meeting |
Arzoo Rabari* Chairman |
Ruchi Nagori Member |
Priyanka Sharma Member |
| 30.01.2026 |
No |
Yes |
Yes |
*Ms. Arzoo Raghubhai Rabari resigned from the Audit Committee w.e.f
30.01.2026 C. Stakeholders Relationship Committee:
During the year under review,1 meetings of members of the Stakeholders
Relationship Committee were held. The details of the Stakeholders Relationship Committee
are as tabulated below:
| Date of the Stakeholders Relationship Committee Meeting |
Ruchi Nagori Chairman |
Chirag Ashokbhai Prajapati Member |
Priyanka Sharma |
| 30.01.2026 |
Yes |
Yes |
Yes |
42. MANAGEMENT DISCUSSION AND ANALYSIS:
In terms of Regulation 34(2)(e) of the Listing Regulations, 2015 read
with other applicable provisions, the detailed review of the operations, performance and
future outlook of the Company and its business is given in the Management's Discussion and
Analysis Report (MDA) which forms part of this Annual Report is annexed as
"Annexure-I".
43. DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION. PROHIBITION & REDRESSAL) ACT. 2013:
The Company has always been committed to provide a safe and conducive
work environment to its employees. Your directors further state that during the year under
review there were no cases filed pursuant to the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 as confirmed by the Internal Complaints
Committee as constituted by the Company.
44. STATEMENT WITH RESPECT TO COMPLIANCE WITH THE PROVISIONS RELATING
TO MATERNITY BENEFIT
The Company has complied with all the provisions of the Maternity
Benefit Act, 1961, and its subsequent amendments. The Company has established all
necessary policies and procedures to ensure that any eligible female employee would
receive the benefits mandated by the Act. During the period under review, no female
employee of the company was eligible for or has availed of maternity benefits under the
said Act. Consequently, no such benefits were provided.
45. INDUSTRIAL RELATIONS:
The Directors are pleased to report that the relations between the
employees and the management continued to remain cordial during the year under review.
46. MAINTENANCE OF COST RECORDS:
The provisions relating to maintenance of cost records as specified by
the Central Government under sub-section (1) of section 148 of the Companies Act, 2013,
are not applicable to the Company and accordingly such accounts and records are not
required to be maintained
47. ACKNOWLEDGEMENTS:
Your Directors would like to express their sincere appreciation for the
co-operation and assistance received from the Bankers, Regulatory Bodies, Stakeholders
including Financial Institutions, Suppliers, Customers and other business associates who
have extended their valuable sustained support and encouragement during the year under
review.
Your Directors take this opportunity to recognize and place on record
their gratitude and appreciation for the commitment displayed by all executives, officers
and staff at all levels of the Company. We look forward for the continued support of every
stakeholder in the future.
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