Your Directors present the 16^th Annual Report on the business and operations of the Company along with the
Audited Financial Statements for the Financial Year ("FY") ended 31^st March, 2026.

1. FINANCIAL RESULTS

The highlights of the financial statement of your Company for the year under review along with previous year's
figures are given as under:

2. REVIEW OF OPERATION

In the financial year 2025-2026 revenue from operations of your Company was Rs. 1,82,37,81,708/- as
compared to the last year of Rs. 1,14,69,18,775/-. During the financial year 2025-26, the Company earned a
profit of Rs. 4,32,19,876/- against the profit of Rs. 3,37,19,234/- during the previous year 2024-25. Your
Directors are committed to enhancing the Company's performance and shall continue to make every effort to
optimize operational efficiencies, control costs, and improve overall results in the coming years.

3. TRANSFER TO RESERVES

The company has transferred Rs. 4,32,19,876 /- being the profit for the current financial year to Reserves &
Surplus Account.

4. CHANGE IN NATURE OF BUSINESS

There is no change in the nature of the business of the Company.

5. MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE COMPANY

During the year under review, no material change took place which may effect the financial position of the
company.

6. DIVIDEND

The Company has earned a profit of Rs. 4,32,19,876/- during the period under review, but with a view of
augmenting financial resources for generating stable growth in future, the Board of Directors of the company
have decided to carry forward entire profit and hence do not propose to recommend any dividend for the
financial year on equity shares.

7. DEPOSITS

During the year under review, the Company has not accepted any Fixed Deposits from its Members in
accordance with the provisions of Sections 73, 76 and other applicable provisions of the Companies Act, 2013
("the Act") and the Companies (Acceptance of Deposits) Rules, 2014.

8. CHANGES IN SHARE CAPITAL, IF ANY

a) Authorised Capital

During the year under review, there was no change in the Authorized Capital of the company. Company's
authorised share capital is Rs. 50,00,00,000/- (Rupees Fifty Crores only) divided into 25,00,00,000 (Twenty-five
crores) equity shares of Rs. 2/- each as on March 31, 2026.

b) Issued, Subscribed & Paid up Capital

During the year under review, there was no change in the Company's Issued, Subscribed & Paid up Capital. The
Issued, Subscribed & Paid up Capital is Rs. 34,44,87,196/- (Rupees Thirty Four Crore Forty Four Lakhs Eighty
even Thousand One Hundred and Ninety Six only) divided into 17,22,43,598 equity shares of Rs. 2 each as on
March 31, 2026.

9. FINANCIAL STATEMENTS

The Financial statements have been prepared by the Company's Management in accordance with the
requirements of Accounting Standards 21 issued by Institute of Chartered Accountants of India (ICAI) and as per
the provisions of Companies Act, 2013.

10. ANNUAL RETURN

Pursuant to the provisions of Section 134(3)(a) and 92(3) of the Act read with Rule 12(1) of the Companies
(Management and Administration) Rules, 2014, as amended, the Annual Return of the Company will be
available on the website of the Company and can be accessed through the following link
https://www.ajoonibiotech.com/annualreport.php.

11. NUMBER OF BOARD MEETINGS

The Board has met 9 (Nine) times during the financial year, the details of which are as under:

19.04.2025, 26.05.2025, 01.07.2025, 14.08.2025, 29.08.2025, 01.11.2025, 13.11.2025, 27.12.2025 and

30.01.2025. The maximum interval between any two meetings didn't exceed 120 days, as prescribed in the
Companies Act, 2013.

The details of meetings of the Board and attendance of the directors are provided in the Report on Corporate
Governance which forms the part of this report.

12. COMPOSITION OF COMMITTEES

As per the applicable provisions of the Companies Act, 2013 & Securities Exchange Board of India (Listing
Obligations & Disclosure Requirements) Regulations, 2015, three Committees have been constituted in the
company which are as follows: -

a) Audit Committee

b) Nomination & Remuneration Committee

c) Stakeholder Relationship Committee

The details of meetings of the committees and attendance of the members are provided in the Report on
Corporate Governance which forms the part of this report.

13. CHANGE IN DIRECTORS /KEY MANAGERIAL PERSONNEL DURING THE YEAR

The details about the changes in Directors or Key Managerial Personnel by way of Appointment, re¬
designation, Resignation, Death, dis-qualification, variation made or withdrawn etc. are as follows:

In accordance with the provisions of Section 152(6) of the Companies Act, 2013 and the Company's Articles of
Association, Mr. Gursimran Singh (DIN: 02209675) Director of the Company is liable to retire by rotation at the
ensuing AGM, and being eligible, has offered himself for re-appointment.

14. STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS UNDER SECTION 149(6) OF COMPANIES
ACT, 2013

All Independent Directors have given declarations under section 149(7) that they meet the criteria of
Independence as laid down under section 149(6) of the Companies Act, 2013 and Rules made thereunder to be
read with Regulation 25 of the SEBI (Listing Obligation & Disclosure Requirement) Regulation, 2015.

The meeting of the Independent Directors was held on 01st March 2026, as per schedule IV of the Companies
Act, 2013. All the directors attended the meeting.

None of the Directors of your Company is disqualified under Section 162 (2) of the Companies Act, 2013. As
required by law, this position is also reflected in the Auditors' Report.

15. REMUNERATION

The details of the remuneration given to the Board of Directors and Key Managerial Personnel have been given
in the extract of Annual Return -MGT-9 and copy of the Annual Return is placed on the website of your Company
at https://ajoonibiotech.com/annualreport.php.

16. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

In accordance with the requirements of the Companies Act and Listing Regulations, your Company has also
adopted the Policy on Related Party Transactions and same is available on website of the Company at
https://www.ajoonibiotech.com/pdf/RELATED%20PARTY%20TRANSACTION%20POLICY.pdf.

All RPT entered into during the financial year 2025-26 were in the ordinary course of business and were on at
arm's length basis and were placed before the Audit Committee for its approval. In the financial year 2025-26,
Details of Related Party as defined under Section 188 of the Act and Regulations 23 the Listing Regulations and
their contracts or arrangements with Company are given in Notes to Account of Financial Statements. Form
AOC-2 is attached as an "Annexure-A".

17. PARTICULARS OF EMPLOYEES

Information as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, and subsequent amendments thereto,
is annexed to this Board's Report and marked as Annexure "B".

18. CORPORATE SOCIAL RESPONSIBILITY (CSR)

The provisions of Section 135 of the Companies Act relating to Corporate Social Responsibility are not
applicable as the Company is having Net worth less than rupees Five Hundred Crore, Turnover less than
rupees One Thousand Crore and Net Profit less than rupees Five Crore.

19. MANNER OF BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and regulation 17(10) of SEBI (LODR) Regulation 2015,
a structured procedure was adopted after taking into consideration of the various aspects of the Board's
functioning composition of the Board and its committees, execution and performance of specific duties,
obligations and governance.

The performance evaluation of the independent Directors was completed in time. The performance evaluation
of the Chairman and the Non-independent Directors was carried out by the Independent Directors. The Board
of Directors expresses their satisfaction with the evaluation process.

The performance of each committee has been evaluated by its members and found to be highly satisfactory.
On the basis of this exercise, the Board has decided that all Independent Directors should continue to be on
the Board.

20. CORPORATE GOVERNANCE REPORT

As per Reg. 34 of SEBI Regulation, 2015 to be read with Part A of Schedule V of the said regulations, a separate
section on corporate governance practices followed by the company, together with the certificate from the
Statutory Auditor of the company, confirming compliance forms an integral part of this Report.

21. MANAGEMENT DISCUSSION ANALYSIS REPORT

Management Discussion and Analysis Report for the year under review, as stipulated under Regulation 34 and
Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is marked as
"Annexure-C".

22. SUBSIDIARIES/ ASSOCIATES/JOINT VENTURES

The Company has no subsidiary/Joint ventures/Associate Companies as per the provisions of Companies Act,
2013 during the financial year ended on 31st March, 2026.

23. ADOPTION OF INDIAN ACCOUNTING STANDARD (IND-AS)

Keeping in view of the above applicability, the Company has followed the Indian Accounting Standards notified
under Section 133 of Companies Act, 2013 read with Companies (Indian Accounting Standards (Ind AS) Rules,
2015 for preparation of its financial statements for the year ended 31st March 2026.

24. DIRECTOR 'S RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134 (5) of the Companies Act, 2013, with respect to Directors
Responsibilities Statement, it is hereby confirmed:

a) That in the preparation of the annual accounts for the financial year ended 31^st March, 2026 the applicable

Accounting standards had been followed along with proper explanation relating to material departures;

b) That the Directors have selected such accounting policies and applied them consistently and made

judgements and estimates that were 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 the
year review;

c) That the Directors had taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of the 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 accounts for the financial year ended 31st March, 2025 on a going concern

basis; and

e) 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;

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.

25. DETAILS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS
AND OUTGO

The Provisions of Section 134(3) (m) of the Companies Act, 2013 read with Rule 8 of Companies (Accounts)
Rules, 2014 regarding Conservation of Energy and Technology Absorption do not apply to your company for
the period under review. Further, details of foreign exchange earnings or outgo during the year under review
are mentioned in the annexure. However, the management has taken all the necessary steps to conserve the
resources to the extent possible. "Annexure - D".

26. SECRETARIAL AUDITOR AND SECRETARIAL AUDIT REPORT

As required under section 204 (1) of the Companies Act, 2013 and Rules made there under the Company has
appointed M/s. S.D.K & Associates, Company Secretaries, Punjab as Secretarial Auditor to conduct the
Secretarial Audit of the Company for the financial Year 2025-26. The Secretarial Audit Report for the financial
year ended 31st March 2026 is attached as "Annexure E" to this Report.

The Secretarial Auditors' Report for the fiscal 2025 states that during the period under review the company
has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, Listing Agreements etc.
mentioned above subject to the following observations:

1. During the period under review, the financial results for the quarter and financial year ended 31st
March, 2025 were published in the English national daily newspaper after 48 hours from the conclusion of
meeting of the Board of Directors at which the financial results were approved. (Regulation 47 of
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015)

2. During the period under review, the confirmation certificate received from Registrar and Transfer
Agent was submitted with the stock exchange beyond the prescribed time. (Regulation 74 of Securities
and Exchange Board of India (Depositories and Participants) Regulations, 2018)

In response to the recent review concerning our regulatory compliance framework, management would like to
state that the Company has strengthened its internal compliance monitoring mechanism and implemented
additional checks to ensure timely compliance with all applicable regulatory requirements in future.

The Management remains committed to maintaining the highest standards of corporate governance and
regulatory compliance and shall continue to exercise due diligence to avoid recurrence of such instances.

Further, pursuant to Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
(Third Amendment) Regulations,2024 dated 12 December 2024, the Board of Directors have approved and
recommended the appointment of M/s. SDK & Associates, Peer Reviewed Practicing Company Secretaries
(PRC Number-7065/2025) have been appointed as the Secretarial Auditors of the Company for a term of five
consecutive financial years commencing from FY 2025-26 to FY 2029-30. The resolution has been approved by
the shareholders in the 15^th Annual General Meeting of the Company held in the year 2025.

27. ANNUAL SECRETARIAL COMPLIANCE REPORT

The provisions of Regulation 24A of the SEBI (LODR) Regulations, 2015 are applicable on the company for the
financial Year 2024-25. The company has obtained the compliance report from M/s. S.D.K & Associates,
Company Secretaries, Punjab. The Secretarial Compliance Report for the financial year ended 31st March 2026
is attached as "Annexure F" to this Report.

The Secretarial Compliance Report for the year 2026 states the following observations as stated above in point
26. Following a detailed review, the Management remains committed to maintaining the highest standards of
corporate governance and regulatory compliance and shall continue to exercise due diligence to avoid
recurrence of such instances.

28. STATUTORY AUDITORS & AUDITORS REPORT

M/s Narinder Kumar and Company (Firm Registration No. 0030737N), Chartered Accountants (Peer Review
Certificate No. 016014) were appointed as Statutory Auditors of the Company at the 14^th Annual General
Meeting held on 17^th September 2024, for the term of five consecutive years i.e. for a period of five years
commencing from the conclusion of 14^th Annual General Meeting till the conclusion of the 19^th Annual General
Meeting of the Company to be held in the year 2029 and shall continue to be statutory auditors of the
company for the Financial Year 2026-2027.

As required under section 139 of the Companies Act, 2013, M/s Narinder Kumar and Company (Firm
Registration No. 0030737N), Chartered Accountants (Peer Review Certificate No. 016014) have confirmed that
they are not disqualified from being appointed as Auditors of the Company and is in compliance of Section
139 and 141 of the Companies Act, 2013 and Companies (Audit and Auditors) Rules, 2014 and also confirmed
that they hold a valid certificate issued by the Peer Review Board of the Institute of Chartered Accountants of
India.

There has been no qualification, reservation, adverse remark or disclaimer given by the Auditors in their
Report. During the year under review, the Auditors had not reported any matter under Section 143 (12) of the
Companies Act, 2013. The Report given by the Auditors on the financial statement of the Company is part of
this Report as Annexure "G".

29. REPORTING OF FRAUDS BY AUDITORS

During the year under review, the Statutory Auditors and Secretarial Auditor have not reported any instances
of frauds committed by the Company, by its officer or employees to the Audit Committee under Section
143(12) of the Act, including rules made there under (if any) details of which needs to be mentioned in this
Report.

30. CASH FLOW ANALYSIS

In conformity with the provisions of Clause 34(2) of SEBI (LODR) Regulations, 2015, the Cash Flow Statement
for the year ended on 31st March, 2026 forms an integral part of the Financial Statements.

31. RISK MANAGEMENT POLICY

The Provisions of Section 134(3) (n) of the Companies Act, 2013 read with provisions of Regulation 21 of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding implementation of a risk
management policy and constitution of Risk Management committee do not apply to your company for the
period under review.

However, Your Company follows a comprehensive system of Risk Management. It ensures that all the risks are
timely defined and mitigated including identification of elements of risk which might threaten the existence of
the Company.

32. NOMINATION & REMUNERATION COMMITTEE POLICY

Your Board has framed a policy which lays down a framework in relation to remuneration of Directors, Key
Managerial Personnel and Senior Management Personnel of the Company. This policy also lays down criteria
for selection and appointment of Board Members. The detail of this policy is explained in the Report on
Corporate Governance. The Nomination and remuneration Policy is available on the website of the company
at www.ajoonibiotech.com and direct web link to the policy is at
https://www.aioonibiotech.com/pdf/nomination-and-remuneration-policv.pdf.

33. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

Details of loans, guarantees and investments under the provisions of Section 186 of the Act read with the
Companies (Meetings of Board and its Powers) Rules, 2014, as on 31st March, 2025, are set out in Notes to
the financial statements of the Company.

34. BORROWINGS

Total borrowings of the company both long term and short term as on 31st March, 2026 are amounting
Rs.1776.29 lacs as compared to previous year ended 31st March, 2025 of amounting Rs. 193.96 lacs (For
details Refer Note No. 12 and 14 of the Audited Financial Statements).

35. WHISTLE BLOWER POLICY AND VIGIL MECHANISM

Section 177(9) of the Companies Act, 2013 and Regulation 22 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, inter alia, provides for a mandatory requirement for all listed companies to
establish a mechanism called the 'Whistle Blower Policy' for Directors and employees to report concerns of
unethical behavior, actual or suspected, fraud or violation or the Company's code of conduct or ethics policy.
In line with this requirement, the Company has framed a "Whistle Blower Policy", which is placed on the
Company's website. The Whistle Blower Policy as approved by the Board is uploaded on the Company's
website at https://www.ajoonibiotech.com/ and direct web link to the policy is at

https://www.aioonibiotech.com/pdf/whistle blower policy.pdf.

36. FAMILIARIZATION POLICY

Pursuant to the provisions of Regulation 25(7) of Listing Regulations, 2015, the Board has framed a policy to
familiarize Independent Directors about the Company. The direct web link to the policy is at
https://www.aioonibiotech.com/pdf/familiarisation programme.pdf.

37. LISTING FEES

The equity shares of the Company are listed on the National Stock Exchange. The listing fee for the year 2026¬
27 has already been paid.

38. TRADE RELATIONS

The Board wishes to place on record its appreciation for the support and co-operation that the Company
received from its suppliers, distributors, retailers and other associates. The Company has always looked upon
them as partners in its progress and has happily shared with them rewards of growth.

It will be Company's endeavor to build and nurture strong links based on mutuality, respect and co-operation
with each other and consistent with customer interest.

39. INTERNAL AUDITORS & AUDITORS REPORT

As required under section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts)
Rules, 2014 made there under, the Company has appointed Internal Auditors to assess the risk management
and to ensure that risk management processes are efficient, effective, secure and compliant. It is the basic
check of internal control of the organization. An internal audit is an organizational move to check, ensure,
monitor and analyze its own business operations in order to determine how well it conforms to a set of specific
criteria.

40. ADEQUACY OF INTERNAL FINANCIAL CONTROLS

Your Company's internal financial control ensures that all assets of the Company are properly safeguarded and
protected, proper prevention and detection of frauds and errors and all transactions are authorized, recorded
and reported appropriately.

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

41. MAINTENANCE OF COST RECORDS

The maintenance of cost records for the services rendered by the company is not required pursuant to Section
148(1) of the Companies Act, 2013 read with rule 3 of Companies (Cost Records and Audit) Rules, 2014.

42. DEMATERILISATION OF SHARES

The Company has connectivity with NSDL & CDSL for dematerialization of its equity shares. The ISIN No.
INE820Y01021 has been allotted for the Company. Further the Company does not have any Equity shares lying
in the Suspense Account.

43. HUMAN RESOURCE

The relationship with employees continues to be harmonious. The company always considers its human
resource as its most valuable asset. Imparting adequate and specialized training to its employees is ongoing
exercise in the company.

44. TRANSFER TO INVESTOR PROTECTION AND EDUCATION FUND (IEPF)

Since there was no unpaid/unclaimed Dividend declared or paid by the Company, the provisions of Section 125
of the Companies Act, 2013 do not apply.

45. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND GENERAL MEETINGS

During the year under review, the Company has duly complied with the applicable provisions of the Secretarial
Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) issued by The Institute of
Company Secretaries of India (ICSI).

46. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS

There were no significant and material orders passed by the Regulators, Courts or Tribunals, during the year
under review, which would impact the going concern status of the Company and its operations in future.

47. DISCLOSURE IN RESPECT OF VOTING RIGHTS NOT EXERCISED DIRECTLY BY THE EMPLOYEES IN RESPECT OF
SHARES TO WHICH SCHEME FOR PROVISION OF MONEY FOR PURCHASE OF OR SUBSCRIPTION FOR SHARES BY
EMPLOYEES OR BY TRUSTEES FOR THE BENEFIT OF EMPLOYEES

The disclosure under the provisions of Section 67(3) read with Rule 16(4) of the Companies (Share Capital and
Debentures) Rules, 2014 in respect of voting rights not exercised directly by the employees in respect of shares
to which scheme for provision of money for purchase of or subscription for shares by employees or by trustees
for the benefit of employees is not applicable to the company.

48. PREVENTION OF INSIDER TRADING:

The Company has adopted a Code of Conduct to regulate, monitor and report trading by insiders under the SEBI
(Prohibition of Insider Trading) Regulations, 2015. This Code requires pre-clearance for dealing in the company's
shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees
while in possession of unpublished price sensitive information in relation to the Company and during the period
when the Trading Window is closed. The Board is responsible for implementation of the Code.

49. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONGWITH THEIR STATUS AS AT THE END OF THE
FINANCIAL YEAR.

There are no proceedings initiated/ pending against your company under the Insolvency and Bankruptcy Code,
2016.

50. 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 period under review, there was no one-time settlement with any Bank or Financial Institution.
Hence, no valuation was required to be undertaken.

51. DISCLOSURES UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
AND REDRESSAL) ACT, 2013:

The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on Prevention,
Prohibition and Redressal of Sexual Harassment ("POSH" policy) at workplace in line with the provisions of the
Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal Act, 2013 and the Rules
made there under to provide a safe and harassment free workplace for every individual working in any office
of the Company. The Company has duly set up an Internal Complaints Committee ("ICC") in line with the
requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act,
2013, to redress complaints received regarding sexual harassment.

The Company did not receive any complaint of sexual harassment during the year under review.

52. DISCLOSURES UNDER MATERNITY BENEFIT ACT, 1961:

The Company has complied with the applicable provisions of the Maternity Benefit Act, 1961. It has ensured
that all eligible female employees are extended the benefits mandated under the Act, including paid maternity
leave, nursing breaks, and protection from dismissal during maternity leave.

During Financial Year 2025-26 no Maternity Benefit is provided by the Company. The Company remains
committed to providing a safe, supportive, and inclusive work environment and continues to implement

policies that support the health and well-being of women employees, especially during maternity and post¬
maternity periods.

53. ACKNOWLEDGEMENTS AND APPRECIATION

Your Directors would like to express their appreciation for assistance and co-operation received from the
financial institutions, banks, Government authorities, customers, vendors and members during the year under
review. Your Directors also wish to place on record their deep sense of appreciation for the committed services
by the executives, staff and workers of the Company and the shareholders for their support and confidence
reposed on the Company.

By Order of the Board of Directors
For Ajooni Biotech Limited

Sd/- Sd-

Date: 29-06-2026 Jasjot Singh Gursimran Singh

Place: Mohali Managing Director Whole Time Director

DIN:01937631 DIN:02209675