JMJ Fintech Ltd

Dear Shareholders,

Your directors’ have pleasure in presenting the 41“ Annual Report on the business and operations of your company along with the Audited Financial Statements for the year ended 31st March 2024. FINANCIAL HIGHLIGHTS

The Financial Results for the year ended 31st March, 2024.

BUSINESS PERFORMANCE:

The Company during the year has achieved a turnover of Rs. 746.41 Lakhs as compared to a turnover of Rs. 380.925 Lakhs in the previous year. The Company has incurred net profit of Rs. 213.78 Lakhs as compared to the profit of Rs. 83.111 Lakhs in the previous year. Your directors are continuously taking all the efforts to improve the existing business.

SHARE CAPITAL:

The Paid-up Equity Share Capital as on March 31, 2024 was Rs. 12,40,00,000/- No additions and alterations to the capital were made during the financial year 2023-2024.

DIVIDEND:

The Board of Directors wish to conserve the profit for future development and expansion and hence have not recommended any dividend for the financial year 2023-24.

DEPOSITS FROM PUBLIC:

During the period under review, your Company has neither accepted nor renewed any deposits within the meaning of provisions of Chapter V Acceptance of Deposits by Companies of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014 ie. Public deposits

The Company is a Non-Deposit Accepting NBFC registered with RBI and accepts funds via Subordinated Debt, subject to applicable laws. As 31.03.2024, the company has total outstanding subordinated debt of Rs.10,35,70,000.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS:

The loan made, guarantee given, or security provided in the ordinary course of business by an NBFC registered with the Reserve Bank of India are exempted from the applicability of the provisions of Section 186 of the Companies Act, 2013. The details of loans given by the company are mentioned in Note number 4. The company has not made any investment within the meaning of 186 of the Act during the financial year 2023-24.

TRANSFER OF PROFITS TO RESERVES:

Board decided to retain the profit of Rs. 213.78 lakhs in the Retained earnings.

SUBSIDIARY / JOINT VENTURES / ASSOCIATE COMPANIES:

The Company does not have any subsidiaries, associates and joint venture companies.

DIRECTORS’ RESPONSIBILITIES STATEMENT:

Pursuant to the requirement of Section 134 (5) of the Act, the Directors hereby confirm:

e That in the Preparation of Final Accounts, the applicable Accounting Standards has been followed along with proper explanation relating to material departures; e That they 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 the financial year and of the profit or loss of the Company for that period. e That they had taken proper and sufficient care for the maintenance of adequacy Accounting Records in accordance with the provisions of the Act, for safeguarding the Assets of the Company and for preventing and detecting fraud and other irregularities; e That they had prepared the Annual Accounts on a Going Concern basis. e That they laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating properly; and e That they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

Board Composition

The Board of the Company as on March 31, 2024 consists of two executive directors, four Independent Directors and two KMP’s including a Company Secretary and a Chief Financial officer. During the financial year under review, the following changes occurred in the Board of Directors and Key Managerial Personnel of the Company: -

? Dismissal of Ms. Ema K Pulimood from the post of CFO of the company w.e.f. 27" July.2023 e = Mr. Ramakrishnan Areekuzhiyil, Independent Director of the company deceased on 1“ October 2023

* Mr. Disola Jose Koodaly, Promoter of the company deceased on 11" October 2023

? Appointment of Mr. Josekutty Vazhayil Easow (DIN: 10358372) as an independent director of the company w.e.f. 20.12.2023 vide Postal Ballot Dated 11th February,2024. e? Appointment of Mr. Justin Thomas O as chief financial officer (KMP) of the company w.e.f. 20.12.2023. e Appointment of Mr. Velayudhanpillai Harikumar (DIN: 10450411)) as additional Director (Non-Executive

& Independent) of the Company w.e.f. 13.02.2024. e Resignation of Mr. Pradeep Kumar Chellappan Kamalakshi (DIN: 09453783) from the post of Directorship of the Company w.e.f. 12th March 2024.

Events occurred after the end of the Financial Year:

? The appointment of Mr. Nidheesh P Anto as the Internal Auditor of the Company for the Financial year 2024-25 w.e.f. 23rd May 2024.

Meetings of Board of Directors

The Board meets at regular intervals to discuss and decide on business strategies / policies and review the financial performance of the Company. The Board Meetings are pre-scheduled, and a tentative annual calendar of the Board is circulated to the Directors well in advance to facilitate the Directors to plan their schedules.

The interval between two Board Meetings was well within the maximum period mentioned under section 173 of the Companies Act, 2013, and SEBI Listing (Disclosures and Obligations Requirements) Regulations, 2015.

BOARD EVALUATION:

Pursuant to the provision of the Companies Act, 2013, a structured questionnaire was prepared after taking into consideration of the various aspects of the Boards’ functioning, the composition of the Board and its committees, culture, execution and performance of specific duties, obligations, and governance. The board and the committee were evaluated on various criteria as stated below:

1. Composition of the Board and Committee.

2. Understanding of the Company and its business by the Board.

3. Availability of information to the board and committee.

4, Effective Conduct of Board and Committee Meetings.

5. Monitoring by the Board management effectiveness in implementing strategies, managing risks and achieving the goals.

The Board also carried out the evaluation of directors and chairman based on following criteria:

1. Attendance of meetings.

2. Understanding and knowledge of the entity.

3. Maintaining Confidentiality of board discussion.

4, Contribution to the board by active participation.

5. Maintaining independent judgment in the decisions of the Board

SEPARATE MEETING OF THE INDEPENDENT DIRECTORS:

As required under Clause VII of Schedule IV of the Companies Act, 2013, the Independent Directors held a Meeting on 12" February, 2024, without the attendance of Non-Independent Directors and members of the Management.

INDEPENDENT DIRECTOR’S DECLARATION:

All Independent Directors have given declarations that they met the Criteria of independence laid down under Section 149 of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure requirements) Regulations, 2015 in respect of financial year ended 31st March, 2024, which has been relied on by the Company and placed at the Board Meeting.

FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS:

The Company has practice of conducting familiarization program of the independent directors as detailed in the Corporate Governance Report which forms part of this Annual Report.

POLICY ON DIRECTORS’ APPOINTMENT AND REMUNERATION AND OTHER DETAILS

Director’s appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under the Companies Act, 2013 are covered under the Board’s policy formulated by the Company and is available on the Company website www.jmijfintechltd.com .

BOARD DIVERSITY:

The Company recognizes that building a Board of diverse and inclusive culture is integral to its success. The Board considers that its diversity, including gender diversity, is a vital asset to the business. The Board has adopted a Board diversity policy which sets out the approach to diversity of the Board of Directors.

NOMINATION AND REMUNERATION POLICY

Pursuant to Section 178(3) of the Companies Act, 2013, the Board of Directors has framed a policy which lays down a framework in relation to remuneration of Directors, Key Managerial Personnel and Senior Management of the company. The policy also lays down the criteria for selection and appointment of Board Members. The policy and details of Nomination and Remuneration is available on the website of the Company at www.jmjfintechltd.com.

In accordance with the Nomination and Remuneration Policy, the Nomination and Remuneration Committee has, inter alia, the following responsibilities:

1. The Committee had formulated the criteria for determining qualifications, positive attributes, and independence of a director. and is available in the company website www.jmjfintechltd.com . The Committee shall identify persons who are qualified to become Director and persons who may be appointed in Key Managerial and Senior Management positions in accordance with the criteria laid down in this policy.

2. Recommend to the Board, appointment, and removal of Director, KMP and Senior Management Personnel.

3. The Board shall carry out evaluations of the performance of every Director, KMP and Senior Management Personnel at regular intervals (yearly).

4. The remuneration/ compensation/ commission etc. to the Managerial Personnel, KMP and Senior Management Personnel will be determined by the Committee and recommended to the Board for approval. The remuneration/ compensation/ commission etc. shall be subject to the prior/ post approval of the shareholders of the Company and Central Government, wherever required.

5. Increments to the existing remuneration/ compensation structure may be recommended by the Committee to the Board which should be within the slabs approved by the Shareholders in the case of Managerial Personnel.

6. Where any insurance is taken by the Company on behalf of its Managerial Personnel, Chief Executive Officer, Chief Financial Officer, the Company Secretary, and any other employees for indemnifying them against any liability, the premium paid on such insurance shall not be treated as part of the remuneration payable to any such personnel. Provided that if such person is proved to be guilty, the premium paid on such insurance shall be treated as part of the remuneration.

7. The Non-Executive/ Independent Director is not paid remuneration by way of fees for attending meetings of the Board or Committee thereof.

8. Commission to Non-Executive/ Independent Directors If proposed may be paid within the monetary limit approved by shareholders, subject to the limit not exceeding 1% of the net profits of the Company computed as per the applicable provisions of the Companies Act, 2013.

WHISTLE BLOWER POLICY/ VIGIL MECHANISM:

Pursuant to Section 177(9) of the Companies Act, 2013, your Company has established a Vigil Mechanism policy for directors and employees to report concerns about unethical behaviors, actual or suspected fraud, violations of Code of Conduct of the Company etc. The mechanism also provides for adequate safeguards against the victimization of employees who avail themselves of the mechanism and also provides for direct access by the Whistle Blower to the Audit Committee. It is affirmed that during the Financial Year 2023-24, no employee has been denied access to the Audit Committee. The vigil mechanism policy is also available on the Company’s website www.jmjfintechltd.com.

INTERNAL CONTROL AND ITS ADEQUACY:

The Company has formulated a Framework on Internal Financial Controls In accordance with Rule 8 (5) (viii) of Companies (Accounts) Rules, 2014, the Company has adequate internal control systems to monitor business processes, financial reporting and compliance with applicable regulations and they are operating effectively.

The systems are periodically reviewed by the Audit Committee of the Board for identification of deficiencies and necessary time-bound actions are taken to improve efficiency at all the levels. The Committee also reviews the observations forming part of internal auditors’ report, key issues and areas of improvement, significant processes and accounting policies.

COMPOSITION OF COMMITTEES OF THE BOARD

During the year all the recommendations of the Audit Committee were accepted by the Board. Pursuant to Section 177(8) of the Companies Act, 2013, the Composition of Audit Committee is given as under:

AUDIT COMMITTEE

CODE OF CONDUCT FOR DIRECTORS AND SENIOR MANAGEMENT:

The Board of Directors has adopted a policy and procedure on Code of Conduct for the Board Members and employees of the Company in accordance with the SEBI (Prohibition of Insiders Trading) Regulations, 2015. This Code helps the Company to maintain the Standard of Business Ethics and ensure compliance with the legal requirements of the Company.

The Code is aimed at preventing any wrong doing and promoting ethical conduct at the Board and by employees. The Compliance Officer is responsible to ensure adherence to the Code by all concerned. The Code lays down the standard of Conduct which is expected to be followed by the Directors and the designated employees in their business dealings and in particular on matters relating to integrity in the workplace, in business practices and in dealing with stakeholders.

All the Board Members and the Senior Management Personnel have confirmed Compliance with the Code.

Auditors:

STATUTORY AUDITORS:

M/s. Mahesh C Solanki & Co., re-appointed as the Statutory Auditors of the company at the 39" Annual General Meeting held on 19" September 2022 for a period of five consecutive years i.e., till the conclusion of 44" AGM.

COMMENT ON STATUTORY AUDITOR’S REPORT:

There are no qualifications, reservations, remarks or disclaimers made by M/s. Mahesh C Solanki & Co., Statutory Auditor in their audit report

COST AUDITOR:

Pursuant to notification of Companies (Cost Records and Audit) Rules, 2014 read with Companies (Cost Records and Audit) Amendment rules, 2014 the Company does not fall under the purview of Cost Audit.

SECRETARIAL AUDITOR:

Pursuant to the requirements of Section 204 (1) of the Companies Act, 2013 and Rule 9 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, M/s. Lakshmmi Subramanian & Associates, Practicing Company Secretaries (CP No.1087, FCS: 3534) was appointed to conduct secretarial audit for the financial year 2023-2024.

The Secretarial Audit Report as received from the Secretarial Auditor is annexed to this report as Annexure I.

COMMENTS/ OBSERVATIONS/ QUALIFICATIONS OF SECRETARIAL AUDIT REPORT:

The comments/ observations/ qualifications of Secretarial Auditor and the reply of the management on the same are as follows:

Comments of Secretarial Auditor (a): Pursuant to appointment of Mr. Velayudhanpillai Harikumar (DIN:

10450411) as an Additional director (Independent category), the company has not regularized the appointment within a time period of three months in accordance with 17(1C) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Reply of Management: The Board observed that the company had the required number of Independent Directors as mandated by various Acts, Rules, and Regulations prior to the appointment period of Mr. Velayudhanpillai Harikumar (DIN: 10450411) as an Additional Director (Independent). However, in its commitment to maintaining an impartial Board, he was appointed as an Additional Director (Independent). The Board reviewed the delay in his regularization within the three-month period, which is being addressed at the 41st Annual General Meeting of the company. Recognizing this as an unintentional error, the Board has directed the responsible officials to take the necessary actions to prevent such occurrences in the future.

Comments of Secretarial Auditor (b) The vacancy in the office of Chief Financial Officer was filled by appointing Mr. Justin Thomas with effect from December 12, 2023. However, the disclosure pertaining to the above did not outline the mode of appointment (Boad meeting). Further, the vacancy was filled beyond a period of three months, thus delay of nearly 5 months.

Reply of Management: The Board noted that the company has an appropriate succession plan in place. However, in this particular case, a delay occurred because the former Chief Financial Officer was unexpectedly terminated from service, necessitating the search for a suitable replacement. The Board acknowledged that the delay in filling the vacancy was due to the unavailability of an eligible candidate and was not intentional. The Board also instructed the concerned departments to ensure such situations are handled more efficiently in the future.

Comments of Secretarial Auditor (c) There was a delay of two days in disclosing the Related Party Transactions under Regulation 23 of SEBI LODR for the half year ended March 31, 2023 and one day delay for half year ended September 30, 2023.

Reply of Management: The Board has acknowledged the matter, which was unintentional and resulted from technical issues during the filmg process and communication errors between departments. The Board has instructed the relevant officials to implement measures to prevent such occurrences in the future and to take necessary steps to enhance interdepartmental communication.

INTERNAL AUDITORS:

M/s TAS & CO, Chartered Accountants, are the Independent Internal Auditors of the Company. The Audit Committee determines the scope of internal Audit line with regulatory and business requirements. The company has appointed M/s TAS & Co, Chartered Accountants LLP as the internal auditor for the financial year 2022-23 & 2023-24. Mr.Nidheesh P Anto was appointed as the Internal Auditor of the Company w.e.f. 23" May 2024 for the financial year 2024-25.

REPORTING OF FRAUDS BY AUDITORS:

During the year under review, neither the Statutory Auditor nor the Secretarial Auditor has reported to the Audit Committee under Section 143 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.

RISK MANAGEMENT POLICY:

The risk management is overseen by the Audit Committee of the Company on a continuous basis. Major risks, if any, identified by the by the business and functions are systematically addressed through mitigating action on a continuous basis. The risk management policy is available in the Company website www.jmjfintechltd.com .

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES:

During the financial year 2023-24, the Company had not entered into any material transactions with related parties under Section 188 of the Companies Act, 2013. However, the Policy on Related Party Transaction is available on the Company’s website www.jmifintechltd.com .

CORPORATE SOCIAL RESPONSIBILITY (CSR):

The Company is not having profits more than Rs 5 Crores in year 2023-24 or net worth more than Rs 500 Crores or turnover of more than Rs. 1000 Crores in the previous financial year and therefore Constituting of a CSR Committee and its Compliance in accordance with the provisions of Section 135 of the Companies Act, does not arise.

ANNUAL RETURN:

The Annual Return in accordance with Section 92(3) of the Companies Act, 2013 read with the Companies (Management and Administration) Rules, 2014, is available on company’s website and can be accessed www.jmjfintechltd.com .

DISCLOSURES OF SHARES HELD BY PROMOTERS IN DEMAT FORM: The promoters of the Company hold hundred percent shares in demat form. DISCLOSURE REQUIREMENTS:

As per SEBI Listing Regulations, the Corporate Governance Report with the Auditors’ Certificate thereon, and the Management Discussion and Analysis Report are attached, which forms part of this report. 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 is of the view that such systems are adequate and operating effectively.

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 is of the view that such systems are adequate and operating effectively.

MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT:

Training on all sectors is given to its employees periodically and motivated to work in line with the development of the industry. The willingness and commitment of the employees help the company to stand tall among its customer in quality and service.

BOARD POLICIES:

The Company has all the required board approved policies as per the Companies Act, 2013 and SEBI (LODR) Regulations, 2015 and RBI guidelines which are placed on the website of the Company.

POLICY ON INSIDER TRADING:

On December 31, 2018, the Securities and Exchange Board of India amended the Prohibition of Insider Trading Regulations, 2015, prescribing various new requirements with effect from 1“ April 2019. In line with the amendments, your Company has adopted an amended Code of Conduct to regulate, monitor and report trading by Designated Persons and their Immediate Relatives under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. This Code of Conduct also includes code of practices and procedures for fair disclosure of unpublished price sensitive information which has been made available on the Company’s website www.jmjfintechltd.com .

INTERNAL COMPLAINTS COMMITTEE:

The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and Rules framed thereunder. Internal Complaints Committee (“ICC”) 1s in place for all works and offices of the Company to redress complaints received regarding sexual harassment. The policy on Prohibition Prevention & Redressal of Sexual Harassment is available on the website of the Company at www.jmjfintechltd.com .

During the Financial Year under review, no complaints with allegation of sexual harassment were filed with the ICC.

Internal Complaint Committee Members:

1.CS. Vidya Damodaran

2.Mrs. Deena Lesly

3.Mr. Justin Thomas O

4.Mrs. Indu Kamala Raveendran

The Committee met once in the financial year 2023-24. The Company is committed to provide a safe and conducive work environment to its employees during the financial year. Your directors state that during the financial year 2023- 24, there were no cases filed pursuant to the Sexual harassment of Women at workplace (Prevention and Redressal) Act, 2013.

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

? Energy Conservation: Conservation of energy continues to receive increased emphasis and steps are being taken to reduce the consumption of energy at all levels. The Company has taken steps to conserve energy in its office use, consequent to which energy consumption had been minimized. Since the Company has not carried on industrial activities, disclosure regarding impact of measures on cost of production of goods, total energy consumption, etc, is not applicable.

? Foreign Exchange Earnings and Outgo: The Company has not earned or spent any foreign exchange during the year under review.

? Research and Development & Technology Absorption: The Company has not done any technology absorption for its business and hence no reporting is required to be furnished under this heading. The Company will adopt necessary technology as and when required in the furtherance of the business.

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

During the year, there were no such instances of significant and material orders passed by the Regulators, Courts or Tribunals.

MATERIAL CHANGES IN THE COMPANY:

The material changes and events during the financial year are as follows:

1. Mrs. Disola Jose Koodaly sold 1,46,180 Equity shares of the Company through off market on 18" August 2023 and the holding after transactions stands Nil.

2. Mr. Johny M L acquired 1,46,180 Equity shares of the Company through off market on 18" August 2023 and the holding after transactions stands at 14,12,360 Equity shares. ? Alteration of the Main Object clause of Memorandum of Association of the Company.

4. Mr. Johny M L acquired 4,40,200 Equity shares of the Company through off market on 27" February 2024 and the holding after transactions stands at 18,52,560 Equity shares.

5. Mr. Saieeth Mohammed Salim sold 4,40,200 Equity shares of the Company through off market on 27" February 2024 and the holding after transactions stands 10,69,370.

OTHER MATERIAL EVENTS HAVE BEEN OCCURRED DURING THE PERIOD AFTER THE END OF THE FINANCIAL YEAR AND BEFORE THE SIGNING OF REPORT ARE AS FOLLOWS;

1. Request from Mr. Sajeeth Mohammed Salim for Re-classification from “Promoter and Promoter Group” of the Company to “Public” category under Regulation 31A of the Listing Regulations (“Request”) was received on 16 August,2024.

COMPLIANCE WITH RBI GUIDELINES:

The company has complied with the Master Direction Reserve Bank of India (Non-Banking Financial Company Scale Based Regulation) Directions, 2023 and all other guidelines/circulars/notifications issued by RBI for the year ended on 31* March 2024.

APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 DURING THE YEAR:

There were no applications made nor any proceeding pending under the insolvency and bankruptcy code, 2016 during the year

MAJOR THINGS HAPPENED DURING THE YEAR WHICH MADE THE IMPACT ON THE OVERALL WORKINGS OF THE COMPANY & THE MAJOR ACTIONS TAKEN BY THE COMPANY IN THAT RESPECT, SUCH AS COVID-19 PANDEMIC:

Nil

THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF:

During the year under review there was no instance of one-time settlement with any Bank or Financial Institution.

THE RATIO OF THE REMUNERATION OF EACH DIRECTOR TO THE MEDIAN REMUNERATION OF THE EMPLOYEES OF THE COMPANY FOR THE FINANCIAL YEAR AND PERCENTAGE INCREASE IN REMUNERATION OF EACH DIRECTOR AND KMP:

The information is required under Section 197 of Companies Act, 2013 read with rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, forming part of Director’s Report as Annexure-II

Note: Non-Executive Independent Directors were paid only sitting fees during the Financial Year under Review. Hence, their Percentage Increase in Remuneration and ratio to Median Remuneration is not applicable.

PARTICULARS OF EMPLOYEES:

The information is required under Section 197 (12) of Companies Act, 2013 read with rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, in respect of employees of the Company, forms part of this report as Annexure-B.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

As per SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, Management Discussion and Analysis Report is attached as Annexure -III.

CORPORATE GOVERNANCE REPORT

In accordance with Schedule V of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 Corporate Governance Report forms part of this Annual Report and attached as Annexure IV.

LISTING FEES:

The Company confirms that it has paid the annual listing fees for the year 2023-24 to the Bombay Stock Exchange.

CLOSURE OF REGISTER OF MEMBERS AND SHARE TRANSFER BOOKS:

The Register of Members and Share Transfer books of the company will be closed with effect from 17" September, 2024 to 23" September, 2024 (both days inclusive).

ACKNOWLEDGEMENT:

We take this opportunity to express our sincere gratitude to the encouragement, assistance, cooperation, and support given by the Central Government, State Governments, Reserve Bank of India, Securities and Exchange Board of India, Bombay Stock Exchange and all other regulators/authorities during the year. We also wish to convey our gratitude to all the customers, Auditors, suppliers, dealers, and all those associated with the company for their continued patronage during the year. We also wish to place on record our appreciation for the hard work and unstinting efforts put in by the employees at all levels. The directors are thankful to the esteemed stakeholders for their continued support and the confidence reposed in the Company and its management.

CAUTIONARY STATEMENT:

The statements contained in the Board’s Report and Management Discussion and Analysis Report contain certain statements relating to the future and therefore are looking forward within the meaning of applicable securities, laws and regulations. Various factors such as economic conditions, changes in government regulations, tax regime, other statues, market forces and other associated and incidental factors may however lead to variation in actual results.