Your Directors are pleased to present the Fourth (4^th) Annual Report of AccelerateBS India Limited ("the Company”) along with the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31,2026.

Further, in compliance with the Companies Act, 2013, ("the Act”) and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations”), the Company has made requisite disclosures in this report with the objective of accountability and transparency in its operations to make you aware about its performance and future perspective of the Company.

FINANCIAL INFORMATIONThe Company’s financial performance (Standalone and Consolidated) for the year ended March 31, 2026 is summarized below:

The Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, have been prepared in accordance with the Accounting Standards (AS) as notified by the Ministry of Corporate Affairs and as amended from time to time.

*The Consolidated Financial Statements of the Company are applicable only for the half year ended March 31, 2026. Accordingly, comparative figures for the corresponding previous financial year are not applicable for the Consolidated Financial Statements for the financial year ended March 31, 2026.

OPERATIONS AND PERFORMANCE OF THE COMPANY

Through the successful integration of our offshore delivery engine with the newly acquired Beanstalk Web Solutions LLC in St. Louis, Missouri, we have officially evolved from a specialized technology vendor into a full-service, cross-border digital agency. Beanstalk now serves as our primary onshore sales and

marketing engine, providing direct market access to a robust portfolio of over 250 active clients. This local footprint introduces dedicated marketing practices-including SEO, Pay-Per-Click (PPC) advertising, and social media campaigns-which beautifully complement our core technical offering and open up massive, two-way cross-selling opportunities. We can now pitch comprehensive technology-plusmarketing portfolios to enterprise accounts, while simultaneously introducing high-margin enterprise DXP implementations, custom chatbots, and digital accessibility services to Beanstalk’s extensive mid-market client base.

Beyond expanding our core digital services, we are supercharging our expansion into high-margin recurring revenue through two key proprietary platforms. The first is Beanstalk’s Governance Studio, a unified digital governance hub that handles the entire lifecycle of professional WCAG 2.2 AA and AI readiness audits within a single desktop application. The second is the upcoming public launch of Getivity, our in-house developed, Al-native SaaS time-tracking platform. Together, these proprietary software assets allow us to layer predictable, high-margin product revenue onto our scalable service delivery model, positioning the company to drive long-term compounding value for our stakeholders.

DIVIDEND

Your Board has Declared 1^st Interim Dividend of INR 0.20/- per Equity Share i.e. 2% on face value of INR 10/- per Equity Share on November 10, 2025 for the financial year 2025-26 to the eligible Shareholders as on record date November 21, 2025.

Further, your Board in their meeting held on May 28, 2026 recommended a Final Dividend of INR 0.10/-(1%) per Equity Share of face value of INR 10/- each for the financial year ended March 31, 2026. The Dividend payment is subject to approval of Members at the ensuing Annual General Meeting.

The dividend would be paid to all the Equity Shareholders, whose names would appear in the Register of Members on the Record date fixed for this purpose. Above Mentioned Final Dividend, if approved by the members, will be paid electronically pursuant to the amendment to Regulation 12 notified by the Securities and Exchange Board of India vide the SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2025, effective November 19, 2025. Accordingly, the Company would be unable to pay dividend through warrants and cheques.

Pursuant to the provisions of the Finance Act, 2020, Dividend income will be taxable in the hands of the Shareholders w.e.f. 1^st April, 2020 and accordingly the Company would be required to deduct tax at source from such dividend at the prescribed rates under the Income Tax Act, 1961. All the required details regarding Tax Deducted at Source ("TDS”) on dividend are forming part of the notice of 4^th Annual General Meeting which forms part of this Annual Report. As your Company is not falling in 1000 top listed entities, Regulation 43A of the SEBI Listing Regulations is not applicable to the Company.

TRANSFER TO RESERVES

During the year under review, your Board does not propose to transfer any amount to any reserves. PUBLIC DEPOSITS

The Company has not accepted or renewed any amount falling within the purview of provisions of Section 73 and 74 of the Companies Act 2013 ("the Act”) read with the Companies (Acceptance of Deposit) Rules, 2014 during the year under review.

FURTHER ISSUE OF SHARES AND OFFER FOR SALE

During the year under review, the Company did not undertake any further issue of share capital, nor was there any offer for sale.

SHARE CAPITAL

The issued, subscribed and paid-up Share Capital of the Company as at March 31, 2026 is INR 3,43,80,800/- (Indian Rupees Three Crore Forty-Three Lakh Eighty Thousand Eight Hundred Only) divided into 34,38,080 Equity Shares of face value of INR 10/- each (Indian Rupees Ten Only).

And the Authorized Share Capital of the Company as at March 31, 2026 is INR 20,00,00,000/- (Indian Rupees Twenty Crore only) divided into 2,00,00,000 Equity Shares of INR 10/- (Indian Rupees Ten Only).

There was no change in the Share Capital of your Company during the year under review.

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

During the year under review, the Company incorporated a Wholly-Owned Subsidiary, Accelerate Next Inc, on September 17, 2025 (IST) and Accelerate Next Inc acquired Beanstalk Web Solutions LLC which became a Step-Down Subsidiary of the Company on March 06, 2026 (IST).

Accordingly, the details of Subsidiaries are as follows:

The Company does not have any joint ventures or associate companies during the year under review. Statement of Affairs of Subsidiaries

During the year under review, the Board of Directors reviewed the affairs of the Subsidiaries of the Company. In accordance with Section 129(3) of the Act, the Company has prepared the Consolidated Financial Statements, which form part of this Annual Report.

Further, a Statement containing the salient features of the Financial Statements of the Company’s Subsidiaries in the prescribed format Form AOC-1 is appended as “Annexure-A” to the Board’s Report.

DIRECTORS & KEY MANAGERIAL PERSONNEL

As on March 31, 2026, the Board of Directors of your Company comprises of 7 (Seven) Directors out of which 3 (Three) are Non-Executive Independent Directors and 4 (Four) are Executive Directors. The Chairman is an Executive Director of the Company. The Board composition is in compliance with the requirements of the Act, the SEBI Listing Regulations and the circulars / directions / notifications issued by therein.

All appointments of Directors are made in accordance with the relevant provisions of the Act, the SEBI Listing Regulations, and other laws, rules, guidelines as may be applicable to the Company. The Nomination and Remuneration Committee (“NRC”) of the Company exercises due diligence inter-alia to ascertain the ‘fit and proper’ person status of person proposed to be appointed on the Board of Directors of the Company, and if deemed fit, recommends their candidature to the Board of Directors for consideration.

During the year under review, there was no appointment or cessation of any director of the Company.

In accordance with the provisions of Section 152(6) of the Companies Act, 2013 Ms. Ishani Kunal Shah (DIN: 09812215) Executive Director of the Company shall retire by rotation at the forthcoming Annual General Meeting of the Company and being eligible, offers herself for re-appointment. A brief profile of

Change in Key Managerial Personnel

During the year under review, Ms. Bhavika Mehta resigned from the position of Whole-time Company Secretary and Compliance Officer of the Company with effect from July 31, 2025.

Further, Ms. Jigyasha Jain was appointed as a Whole-time Company Secretary and Compliance Officer of the Company with effect from August 08, 2025.

The details of the Key Managerial Personnels of your Company as on March 31,2026 are as follows:

DIRECTOR(S) DISCLOSURES

Based on the declarations and confirmations received pursuant to Sections 164 and 184 of the Act, none of the Directors on the Board of your Company are disqualified from being appointed as Directors.

Further the Company has received the declarations from all the Independent Directors as per the Section 149(7) of the Act and the Board is satisfied that all the Independent Directors meet the criteria of independence as mentioned in Section 149(6) of the Act. Based on the declarations received from the Independent Directors and after evaluating their qualifications, experience, expertise, proficiency, and performance, your Board is of the opinion that the Independent Directors appointed during the financial year are persons of integrity and possess the requisite expertise, experience, skills, and proficiency required to discharge their duties and responsibilities effectively.

Further, declaration on compliance with Rule 6(3) of the Companies (Appointment and Qualification of Directors) Rules, 2014, as amended by Ministry of Corporate Affairs ("MCA”) vide its Notification dated 22nd October, 2019, regarding the requirement relating to enrolment in the data bank created by MCA for Independent Directors, had been received from all Independent Directors.

BOARD EVALUATION

The Board of Directors has carried out an annual evaluation of its own performance, the performance of its Committees and Individual Directors including Independent Directors of the Company as per Section 134(3)(p) of the Act read with Rule 8(4) of the Companies (Accounts) Rules, 2014. The performance evaluation forms were circulated to the Board & Committee members and the responses on the same have been received.

A separate meeting of Independent Directors was also held to evaluate the performance of NonIndependent Directors, the Board as a whole and the Chairman of the Company. The outcome of the performance evaluation of the Committees of the Board and the Board is presented to the Nomination and Remuneration Committee and the Board of Directors of the Company and key outcomes, and actionable areas are discussed and acted upon.

The Company has a policy for performance evaluation of the Board, Committees and other individual Directors (including Independent Directors) which includes criteria for performance evaluation of NonExecutive Directors and Executive Directors. The Board Evaluation Policy is available on the Company’s website at www.acceleratebs.com.

BOARD COMMITTEES

The Board of Directors, in compliance with the requirements of various laws applicable to the Company and for operational convenience, has constituted several committees to deal with specific matters and has delegated powers for different functional areas to different committees. The Board of Directors has constituted Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee of the Company.

The details of the Board Committees of your Company are as follows:

Audit Committee (“AC”)

The Audit Committee and terms of reference of the Audit Committee are in compliance with the provisions of Section 177 of the Act. All members of the Audit Committee are financially literate and have accounting or related financial management expertise. The Audit Committee consists of the following Members:

Nomination and Remuneration Committee (“NRC”)

The Nomination and Remuneration Committee and the terms of reference of the Nomination and Remuneration Committee are in compliance with the provisions of Section 178 of the Act. The Nomination and Remuneration Committee consists of the following Members:

Stakeholders Relationship Committee (“SRC”)

POLICY ON APPOINTMENT AND REMUNERATION OF DIRECTORS

As per the provisions of Section 178(3) and Section 134 (3) (e) of the Act, and on recommendation of the Nomination and Remuneration Committee (NRC), the Board has framed a Nomination and Remuneration Policy which lays down a framework for appointment and remuneration of Directors, Key Managerial Personnel and the other employees and their remuneration. This policy, inter alia, provides:

a) The criteria for determining qualifications, positive attributes and independence of directors and criteria for appointment of Key Managerial Personnel / Senior Management while making the selection of the candidates; and

b) Guiding principles, philosophy, and the basis for payment of remuneration to Directors, Key Managerial Personnel and other employees.

The policy is directed towards a compensation philosophy and structure that will reward and retain talent and provides for a balance between fixed and incentive pay reflecting short and long-term performance objectives appropriate to the working of the Company and its goals.

The Nomination and Remuneration Policy is available on the Company’s website at www.acceleratebs.com.

FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

The Independent Directors of your Company were familiarized with the industry in which your Company operates, the Company’s business model and its operations in order to give them an insight into the Company’s business and its functioning. The Independent Directors were also familiarized with their functioning roles rights and responsibilities as Independent Directors. Details of how the familiarization programmes imparted to Independent Directors are available on the Company’s website at www.acceleratebs.com.

CORPORATE GOVERNANCE

Since your Company’s Equity Shares are listed on the SME Platform of BSE Limited and therefore, the provisions related to Corporate Governance under the SEBI Listing Regulations are not applicable to the Company.

PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prohibition of Insider Trading (the ‘Code’) in accordance with the requirements of the SEBI (Prohibition of Insider Trading) Regulations, 2015, with a view to regulate trading in securities by the Board of Directors and Employees of the Company, their immediate relatives and other insiders as defined in the Code. During the closure of the trading window, no Employee/ Designated Person is permitted to trade in the securities of the Company with or without pre-clearance as informed by the Secretarial Department, from time to time. Timely disclosures are made to the Stock Exchanges by the Company. No Employee/ Designated Person is permitted to communicate, provide, or allow access to any Unpublished Price Sensitive Information relating to Company, its securities or any other company (listed or proposed to be listed), to any person except where such communication is in furtherance of legitimate purpose, Performance of duties or discharge of legal obligations. The Company periodically monitors and ensures compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015.

COMPLIANCE WITH SECRETARIAL STANDARDS

During the year under review, your Company has followed the applicable Secretarial Standards, including Meetings of the Board of Directors (SS-1) and the General Meetings (SS-2), issued by the Institute of Company Secretaries of India (ICSI) and mandated as per the provisions of Section 118 (10) of the Act.

DIRECTORS’ RESPONSIBILITY STATEMENT

As required under Section 134 of the Act, the Directors of the Company state that:

(i) In the preparation of the annual accounts for the year under review, the applicable accounting standards had been followed along with the proper explanation relating to material departures;

(ii) 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 as on March 31, 2026, and of its profit and loss for the period ended on that date;

(iii) The Directors had taken proper and sufficient care for the maintenance of adequate 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;

(iv) The Director had prepared the annual accounts for the year under review on a ‘going concern’ basis; and

(v) The Directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively;

(vi) The Directors had devised proper systems to ensure compliance with the provisions of all the applicable laws and that such systems are adequate and operating effectively.

PARTICULARS OF LOANS, GUARANTEE, OR INVESTMENTS MADE UNDER SECTION 186 OF THE ACT

Pursuant to the provisions of Section 186 of the Companies Act, 2013, read with the Companies (Meetings of Board and its Powers) Rules, 2014 as amended from time to time (including any amendment thereto or re-enactment thereof for the time being in force), the Company has disclosed the particulars of the Loans given, Investments made or Guarantees given or Security provided during the year, in Notes forming part of the Standalone Financial Statements.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

The Company has adequate policies and procedures for the identification and monitoring of Related Party Transactions. All the transactions entered into with the Related Parties during the year under review were on an arm’s length basis and were in the ordinary course of business. The Company presented all Related Party Transactions before the Audit Committee and the Board for their approval specifying the nature, value, and terms and conditions of the transaction. All the related party transactions are presented to the Audit Committee and Board for their approval. A statement of all related party transactions is presented before Audit Committee on half yearly basis, specifying the nature, value and terms and conditions of the transactions.

Disclosure in Form AOC-2 is enclosed herewith as “Annexure-B” to the Board’s Report. Your attention is drawn to the Related Party Disclosure made in the Notes forming part of the Standalone Financial Statements.

UNSECURED LOAN FROM THE DIRECTORS

During the year under review, the Company has accepted an unsecured loan from its Directors, who have provided a declaration in writing to that effect that the amount has not been given out of funds acquired by them by borrowing or accepting loans or deposits from others.

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

The information pertaining to the Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo of the Company as required under Section 134 (3)(m) of the Act read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is enclosed herewith as “Annexure-C” to the Board’s Report.

STATEMENT INDICATING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY

Your Company has in place a mechanism to identify, assess, monitor, and mitigate various risks to its key business objectives that may threaten the existence of the Company. Major risks identified by the

various functions are documented along with appropriate mitigating controls on a periodic basis. The policy is available on the Company’s website at www.acceleratebs.com.

CORPORATE SOCIAL RESPONSIBILITY (“CSR”)

The provisions of Section 135 of the Act read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 are not applicable to the Company for the year under review and accordingly, your Company is not required to formulate the CSR Policy or constitute CSR Committee.

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

During the year under review, your Company has not received any significant/ material orders passed by any of the Regulators/Courts/Tribunals impacting the Going Concern status of the Company and its operations in the future.

WHISTLE BLOWER POLICY / VIGIL MECHANISM POLICY

In terms of Sections 177(9) and 177(10) of the Act, the Board of Directors of the Company adopted a Whistle Blower Policy/Vigil Mechanism Policy inter alia to provide a mechanism for Directors and Employees of the Company to approach the Internal Complaint Committee and to report instances of unethical behaviour, actual or suspected, fraud or violation of the Company’s Code of Conduct and other genuine concerns related to the Company and provide for adequate safeguards against victimization of Director(s) or employee(s) who report genuine concerns under the mechanism.

Internal Complaint Committee consists of following members:

The Whistle Blower Policy/ Vigil Mechanism Policy of the Company is available on the Company’s website at www.acceleratebs.com.

ANNUAL RETURN

The Extract of Annual Return of your Company as on March 31,2026, in the Form MGT-7 in accordance with Sections 92(3) and 134(3)(9) of the Act as amended from time to time and the Companies (Management and Administration) Rules, 2014 is available on Company’s website at www.acceleratebs.com.

COST RECORDS

The provisions of Section 148 of the Act regarding the maintenance of Cost records are not applicable to your Company.

REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL & SENIOR MANAGEMENT

The remuneration paid to the Directors, Key Managerial Personnel, and Senior Management of the Company is in accordance with the Nomination and Remuneration Policy formulated in accordance with Section 178 of the Act. Particulars of Employees as required under Section 197(12) of the Act and other disclosures as per Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is enclosed herewith as “Annexure-D” to the Board’s Report.

DISCLOSURE REGARDING THE ISSUE OF EMPLOYEE STOCK OPTIONS

Your Company does not have any Employee Stock Option Scheme/ Plan during the year under review. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Pursuant to Regulation 34 (2) (e) read with Para B of Schedule V of the SEBI Listing Regulations, the Management Discussion and Analysis Report forms part of this Report and is enclosed herewith as “Annexure-E” to the Board’s Report.

STATUTORY AUDITORS AND THEIR REPORT

M/s. K S Sanghvi & Co., Chartered Accountants, Mumbai, (FRN: 116714W) were appointed as the Statutory Auditor of the Company for a term of 5 (Five) consecutive years to hold office from the conclusion of 1^st Annual General Meeting till the conclusion of 6^th Annual General Meeting of the Company at the Annual General Meeting held on September 22, 2023.

M/s. K S Sanghvi & Co., Chartered Accountants, Mumbai, Statutory Auditor of the Company in their report(s) on the Audited Standalone and Consolidated Financial Statements of your Company for the financial year ended March 31, 2026, have not made any qualifications, reservations, adverse remarks or disclaimers and said report forms part of the Annual Report. Further, the notes to the accounts referred to in the Auditor’s Report are self-explanatory.

SECRETARIAL AUDITOR AND THEIR REPORT

The Company had appointed Mr. Vikas Raju Varma, Practicing Company Secretary, Mumbai, as a Secretarial Auditor of the Company, according to the provision of Section 204 of the Act read with rules for conducting Secretarial Audit of Company for the financial year 2025-26. The Report of the Secretarial Audit is annexed herewith as “Annexure-F” to the Board’s Report.

With reference to the remarks of the Secretarial Auditor, the management reply is as follows:

There was an inadvertent delay in filing one form with the Registrar of Companies on the Ministry of Corporate Affairs portal, the Company will ensure timely filing of ROC forms in the future.

INTERNAL AUDITOR AND THEIR REPORT

The Company has appointed Anish Mehta & Associates, Chartered Accountants, Mumbai, as the Internal Auditor of the Company according to the provision of Section 138 of the Companies Act, 2013 read with rule 13 of Companies (Accounts) Rules, 2014 for conducting Internal Audit of Company for the financial year 2025-26. The Board and Audit Committee periodically reviews the Internal Audit Reports and the adequacy and effectiveness of the internal controls. Significant Audit observations, corrective and preventive actions thereon are presented to the Board and Committee on a quarterly basis.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company is committed to provide conducive environment in which all individuals are treated with respect and dignity and promote a gender sensitive and safe work environment. Accordingly, the Board of Directors of the Company adopted a “Policy on Prevention of Sexual Harassment at Workplace” and also constituted an Internal Complaint Committee, in compliance with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

Your Directors further states 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. The policy adopted by the Company for the prevention of Sexual Harassment is available on the Company’s Website at www.acceleratebs.com.

(a) Number of complaints of Sexual Harassment received in the year: Nil

(b) Number of complaints disposed off during the year: Nil

(c) Number of cases pending for more than ninety days: Nil

MATERNITY BENEFITS

Your Company complies with the provisions of the Maternity Benefit Act, 1961, and provides Maternity Benefits to eligible women employees. Adequate facilities and support are provided in line with statutory requirements.

INTERNAL FINANCIAL CONTROLS RELATED TO THE FINANCIAL STATEMENTS

Your Company has an adequate system of Internal Financial Control commensurate with its size and scale of operations, procedures, and policies, ensuring the efficient and orderly conduct of its business, including adherence to the Company’s policy, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of accounting records and timely preparation of reliable financial information.

Based on the assessment carried out by the Management and the evaluation of the results of the assessment, the Board is of the opinion that the Company has an adequate Internal Financial Control System that is operating effectively during the year under review. There were no instances of fraud that necessitates reporting of material misstatements to the Company’s operations.

REPORTING OF FRAUDS

During the year under review, no frauds have been reported by the Statutory Auditors of the Company under Sub-Section (12) of Section 143 of the Act.

DETAILS AND STATUS OF ACQUISITION, MERGER AND MODERNIZATION AND DIVERSIFICATION

During the year under review, your Company has acquired 100 % stake in Accelerate Next Inc, Company incorporated in Wyoming, United States of America. Consequent to which Accelerate Next Inc became a Wholly-Owned Subsidiary of the Company.

Further, Accelerate Next Inc, a Wholly-Owned Subsidiary of your Company, acquired 100% shareholding in Beanstalk Web Solutions LLC, incorporated in United States of America. Consequently, Beanstalk Web Solutions LLC became a Step-Down Subsidiary of your Company.

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

There are no material changes or commitments affecting the financial position of the Company between the end of the financial year to which this financial statement relates and the date of this report.

OTHER STATUTORY DISCLOSURES

• The Standalone and Consolidated Financial Statements of the Company are placed on the Company’s website at www.acceleratebs.com.

• Details of top ten employees in terms of the remuneration and employees in receipt of remuneration as prescribed under Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are as follows:

• The Company has not defaulted in repayment of loans from banks and financial institutions and interest therein.

• Neither any application was made, nor is any proceeding pending under the Insolvency and Bankruptcy Code, 2016 against the Company.

• During financial year 2025-26, there was no instance of one-time settlement with Banks or Financial Institutions. Therefore, as per Rule 5(xii) of Companies (Accounts) Rules, 2014, reasons of difference in the valuation at the time of one-time settlement and valuation done while taking loan from the Banks or Financial Institutions are not reported.

• During the year under review, there is no change in business of your Company. ACKNOWLEDGEM ENT

Your Directors take this opportunity to offer their sincere thanks to the Shareholders, regulatory authorities including Ministry of Corporate Affairs, the Securities and Exchange Board of India, the Government of India and other Regulatory Authorities, the Depositories, the BSE Limited, Bankers, Financial Institutions and Customers of the Company for their continued support and trust. Your Directors also like to express their sincere appreciation for the commitment, dedication and hard work done by the employees of the Company.