Your Directors have pleasure in presenting the Annual Report on the business and
operations of the Company together with Audited Statement of Accounts for the year
ended on 31^st March 2025 with Auditor’s Report thereon.

Financial Highlights

The above performance is based on standalone basis. Consolidated figures are not
applicable.

State of Affairs:

Total Revenue of the Company has increased by 26.33%. Net Profit after tax has
increased by about 104.15%.

The Company is taking all the possible steps to increase the profitability.

Transfer to Reserves (i.e. Other Equity):

The Opening Balance of Security Premium Reserve stands at Rs. 19,360.00
Thousands whereas the closing balance of Security Premium Reserve stands at Rs.
19,360.00 Thousands.

The Opening Balance of Retained Earnings stands at Rs. 1,61,580.22 Thousands.
During the year under review whole of the Profit after tax of Rs. 21,473.10 Thousands
has been transferred to Retained Earnings. The Closing Balance of Retained Earnings
stands at Rs. 1,83,053.31 Thousands.

Dividend:

In order to conserve resources, your Directors do not recommended dividend for the
year 2024-25 on Equity Shares of the Company. The Dividend Policy of the company
is available on the website of the Company which can be assessed by clicking the
following link:

Chrome-extension:

//efaidnbmnnnibpcajpcglclefindmkaj/http://arveelabs.com/doc/Dividend_Policy.p

df

Details regarding Energy Conservation:

Pursuant to Rule 8 (3) of Companies (Accounts) Rules, 2014, the Board of Directors
hereby state as under declare that.

Disclosure of Directors Responsibility Statement:

As required u/s 134 (5) of the Companies Act, 2013 the Directors hereby state and
confirm:

i. In the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper
explanation relating to material departures, if any.

ii. The Directors have 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 as
on 31/03/2025 and of the profit of the company for that period.

iii. The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with

the provisions of this Act for safeguarding the assets of the
company and for preventing and detecting fraud and other
irregularities.

iv. The Directors have prepared the annual accounts on a going
concern basis.

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 applicable laws and that such systems
were adequate and operating effectively.

Listing:

The Shares of your Company are listed on Capital Market Segment (Main Board) of
the National Stock Exchange of India Limited. The Company has paid necessary
listing fees for the year 2024 - 2025.

Details of Material Changes and Commitments, Occurred during the Period
affecting financial position of the Company:

During the year under review there were no significant and material orders passed
by any Regulators or Court or Tribunals which may have impact on the going concern
status. No order has been passed by any Regulators or Court or Tribunals which may
have impact on the Company's operation in future. Further there is no material
change and commitments occurred during the year under review.

Particulars of Loans, Guarantees and Investments under Section 186 of the
Companies Act, 2013:

The Company has not provided any guarantee or provided any Security to any Person
for the loans availed by others.

There are no loans or advances in the nature of loans granted to Promoters, Directors,
KMPs and their related parties (as defined under Companies Act, 2013), either
severally or jointly with any other person, that are: (a) repayable on demand; or (b)
without specifying any terms or period of repayment

The details regarding the Loans and Advances, Investments, if any, are provided in
the Balance Sheet and notes to the Balance Sheet. The loans and advances, if any,
provided are for the business purpose.

Particulars of Contracts or Arrangements with Related Parties under Section
188 of the Companies Act, 2013:

All contracts / arrangements / transactions, if any, entered by the Company during

the financial year with related parties were in the ordinary course of business and on
an arm’s length basis. During the year, the Company has not entered into
transactions with related parties which could be considered material in accordance
with the policy of the Company on materiality of related party transactions. The Policy
for determination of Material Related party transaction is available at
http://arveelabs.com/doc/OTHER POLICIES.pdf

No advance is paid to any related party (other than loans and advances) for entering
any transaction. No Bad Debts of related parties.

Details of transactions with related parties during FY2025 are provided in the notes
to the financial statements. There were no transactions requiring disclosure under
section 134(3) (h) of the Act. Hence, the prescribed Form AOC-2 does not form a part
of this report.

Disclosure of Companies covered under Section 178 (1) on Directors

appointment and Remuneration including matters referred under Section 178
(3) of Companies Act, 2013 and Details of Statement indicating manner in
which formal annual evaluation made by Board of its Performance and of its
Committees and individual Directors:

The Company has devised a Policy for Directors; appointment and remuneration
including criteria for determining qualifications, performance evaluation and other
matters of Independent Directors, Board, Committees and other individual Directors
which include criteria for performance evaluation of both non-executive directors and
executive directors.

The Company's Nomination & Remuneration policy which includes the Director's
appointment & remuneration and criteria for determining qualifications, positive
attributes, independence of the Director & other matters is available on the website
of the Company at the link http://arveelabs.com/doc/OTHER POLICIES.pdf

Declaration by Independent Directors:

The Independent Directors of the Company namely Sachin Kanwarlal Kansal, Mrs.
Shalini Hitesh Jalan and Mrs. Neetu Rishi Jalan have confirmed to the Board that
they meet the criteria of independence as specified under Section 149 (6) of the
Companies Act, 2013 and they qualify to be independent directors. They have also
confirmed that they meet the requirements of independent directors as specified in
the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. In the
opinion of the Board the independent directors possess requisite qualification,
competence and expertise.

Share Capital:

During the year under review no changes in Share Capital of the Company.

Issue of Equity Shares with Differential Rights:

Details required to be stated as per Rule 4 (4) of Companies (Share Capital and
Debenture Rules) 2014 is not applicable.

Disclosure regarding Employee Stock Options:

Details required to be given as stated in Rule 12 (19) Companies (Share Capital and
Debenture Rules) 2014 is not applicable.

Disclosure regarding Sweat Equity Shares:

Details required to be given as stated in Rule 8 (13) Companies (Share Capital and
Debenture Rules) 2014 is not applicable.

Auditors and Audit Report:

M/s. Nirav Patel & Associates, Chartered Accountant continues to hold office as
Statutory Auditor of the Company.

There is no qualification or adverse remarks made by the auditors in their report.
Internal Audit:

Your Company has appointed M/s. Keval Ponkiya & Associates, Chartered
Accountants as internal auditors.

Cost Audit and Cost Records:

The Company has maintained adequate Cost records required to be maintained in
terms of the Companies Act, 2013. Cost Audit provisions are not applicable to the
Company till year ended 31^st March, 2025.

Disclosure of Risk Management Policy:

The Company has a structured risk management policy. The Risk management
process is designed to safeguard the organization from various risks through
adequate and timely actions. It is designed to anticipate, evaluate and mitigate risks
in order to minimize its impact on the business. The potential risks are inventoried
and integrated with the management process such that they receive the necessary
consideration during decision making.

SECRETARIAL AUDIT

The Company has obtained a Secretarial Audit Report M/s. Jalan Alkesh &
Associates, Company Secretary in Practice to conduct the secretarial audit for the
financial year 2024-25. Secretarial Audit is attached and marked as Annexure I.

The Secretarial Audit Report contains the following qualification:

The Company has not filed the Cost Report in time and accordingly the
company has received a notice for the same, however subsequently the same
was filed vide SRN: N30325203 dated 19^th April, 2025

The reply of the Board of Directors for the above qualification is as under:

The delay was unintentional and due to oversight. In future the Company will be
more vigilant for the compliance.

In addition to the above, pursuant to regulation 24A (2) of the Listing Regulations,
2015, a secretarial compliance report for the financial year 2024-25 has been issued
by Alkesh Jalan, (Company Secretary in Practice) and the same will be submitted to
the stock exchanges within the given timeframe. The report is also available on the
website of the Company.

There are no qualifications, reservations or adverse remarks or disclaimers in any of
the aforesaid reports.

Board Meetings:

During the year under review, 6 (Six) Board meetings were held. The dates of Board
meetings and attendance details is as under:

In respect of the above board meetings adequate notice was given to all the Directors
together with the agenda. The gap between two Board meetings does not exceed 120
days.

Independent Director’s Meeting

In compliance with schedule IV to the Act and regulation 25(3) of the Listing
Regulations, 2015, the independent directors held their separate meeting on 18
March 2025, without the attendance of non-independent directors and members of
Management.

All independent directors were present at the meeting.

The independent directors present elected Mr. Sachin Kanwarlal Kansal as
chairperson for the meeting.

The independent directors, inter alia, discussed on changes in the Board, report of
performance evaluation of Board, its Committees and Chairman and reviewed the
performance of non-independent directors and the Board as a whole and also the
performance of Chairman of the Company taking into account the views of executive
directors and non-executive directors, assessment of quality, quantity and timeliness
of flow of information between the Company’s Management and the Board, etc. and
provided their views and expressed satisfaction on each of the matters.

In addition, the independent directors had a separate meeting with senior
management personnel to deliberate on various matters concerning the Company’s
business.

Corporate Governance:

Corporate Governance forms part and parcel of the Directors Report. The report on
Corporate Governance is provided in Annexure II.

Management Discussion and Analysis Report:

Management Discussion and Analysis Report as required under Regulation 34 and
Schedule V of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 is attached herewith and marked as Annexure III.

Certificate on Corporate Governance Report:

A Certificate by Practicing Company Secretary for Corporate Governance Report is
enclosed herewith and marked as Annexure IV.

Code of Conduct:

The Board of Directors has already adopted the Code of Ethics and Business Conduct
for the Directors and Senior Management personnel. This code is a comprehensive
code applicable to all Directors, Executive as well as Non - executive and members of
the Senior Management. The Code has been circulated to all the members of the
Board and Senior Management Personnel and compliance of the same has been
affirmed by them.

A declaration given by the Managing Director is given below:

The Company has obtained from all the members of the Board and Senior
Management Personnel of the Company, affirmation that they have complied with the
Code of Ethics and Business Conduct framed for Directors and Senior Management
Personnel in respect of the financial year 2024-2025.”

The company has adopted a Code of Conduct for Prevention of Insider Trading with
a view to regulate trading in securities by the Directors and designated employees of
the Company and can be accessed at www.arveelabs.com

Voluntary Revision of Financial Statements / Board Report:

There was no voluntary revision of financial statements or Board Report during the
financial year.

Dematerialization of Shares:

100% Equity Shares of the Company are in Demat form.

Policies:

Various policies required under the provision of the Companies Act, 2013 and SEBI
(Listing Obligations and Disclosure Requirements) Regulations 2015 are adopted and
uploaded on the website of the Company namely www.arveelabs.com

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).

Corporate Social Responsibility:

Stakeholders are further informed that during the year 2024-2025 your Company do
not fall under the Criteria of Section 135 of the Companies Act, 2013.

Business Responsibility and Sustainability Report:

Since your Company does not fall in the criteria of top 1000 listed entity based on
market capitalization at the end of the year and therefore the provisions of Business
Responsibility and Sustainability Report is not applicable to the Company.

Investor Education and Protection Fund:

No amount was required to be transferred to Investor Education and Protection Fund.
Disclosure under Rule 8 (5) of Companies Accounts Rules, 2014:
a) Disclosure of financial Summary / Highlights:

b) Disclosure of Change in Nature of Business:

The Company is engaged in Chemicals. There is no change in nature of
Company business.

c) Details of Directors / Key Managerial Personnel Appointed / Resigned:
Appointment:

Mr. Praveen Kumar Rameshchandra Mishra was appointed as an Additional Director

on 24^th June, 2024 and thereafter the members of the Company have approved his
appointment in annual general meeting held on 28^th September, 2024.

Re-Appointment:

Mr. Shalin Chokshi was re-appointed as a Director liable to retire by rotation on 28^th
September, 2024.

Cessation:

During the year under review there is no cessation of any Director or Key Managerial
Personnel in the Company.

The 1^st term of office of Mrs. Neetu Jalan as an Independent Director will end on 11^th
February, 2026. It is proposed to reappoint Mrs. Neetu Jalan as an Independent
Director for another term of five years with effect from 12^th February, 2026. Other
independent Directors have not completed term of five years.

In terms of the provisions of rule 8(5) (iiia) of the Companies (Accounts) Rules, 2014,
the Board opines that the Independent directors so appointed/re-appointed hold
highest standards of integrity and possess necessary expertise and experience.

d) Details of Subsidiary Companies / Joint Ventures / Associate Companies:

The Company has no subsidiary companies / joint ventures / associate companies
either at the beginning of the year or at the end of year or at any time during the year.

e) Details regarding Deposit covered under Chapter V of the Companies Act,
2013.

The Company has not invited any deposit other than the exempted deposit as
prescribed under the provision of the Companies Act, 2013 and the rules framed
there under, as amended from time to time. Hence there are no particulars to report
about the deposit falling under Rule 8 (5) (v) and (VI) of Companies (Accounts) Rules,
2014.

f) Details of Deposit which are not in compliance with requirements of
Chapter V of the Act.

Not Applicable

g) Details of Significant and Material Orders passed by Regulators or Courts
or Tribunals.

During the year under review there were no significant and material orders passed
by any Regulators or Court or Tribunals which may have impact on the going concern
status. No order has been passed by any Regulators or Court or Tribunals which may

have impact on the Company's operation in future. Further there is no material
change and commitments occurred during the year under review.

h) Internal financial Controls:

The Company has identified and documented all key internal financial controls,
which impact the financial statements. The financial controls are tested for operating
effectiveness through ongoing monitoring and review process of the management and
independently by the Internal Auditors. In our view the Internal Financial Controls,
affecting the financial statements are adequate and are operating effectively.

Extract of Annual Return:

Extract of Annual return pursuant to Section 92 of the Companies Act, 2013 for the
year ended on 31^st March, 2025 is available on the website of the Company i.e.
www.arveelabs.com

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

The Company has in place an Anti-harassment policy in line with the requirements
of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013. Internal Complaint Committee are set up at shop floor level to
redress complaints received regularly and are monitored by women line supervisors
who directly report to the Chairman. All employees (permanent, contractual,
temporary, trainees) are covered under the policy. There was no compliant received
from any employee during the financial year 2024-25 and hence no complaint is
outstanding as on 31.03.2025 for redressal.

Particulars of Employees:

The Particulars of Employees required to be given pursuant to Section 197 of the
Companies Act 2013 is provided in Annexure V.

Non Disqualification of Directors:

A Certificate obtained from Practicing Company Secretary regarding non¬
disqualification of Directors of the Company is annexed and marked as Annexure VI.

Details of application made or any proceeding pending under the Insolvency
and Bankruptcy Code, 2016 (31 of 2016) during the year along with their status:

No Application made or any proceeding pending under the Insolvency and
Bankruptcy Code, 2016 (31 of 2016) during the year.

Details of difference between of amount of valuation done at the time of one
time settlement and the valuation done while undertaking loan from the bank

of FI, along with reasons thereof: Not Applicable
Maternity Benefit

The company has provided necessary maternity benefit to female employees in
accordance with The Maternity Benefit Act 1961.

Policies:

The Company has adopted various policies as required under the provisions of the
Companies Act. 2013 and SEBI (Listing Obligations and Disclosure Requirement)
Regulations 2015

Furthermore other policies can be accessed from the website of the Company at the
webpage link: http://arveelabs.com/CodeOfConduct.aspx

Acknowledgement

Your Directors express their gratitude for the continued support, co-operation, and
assistance received by the Company from various Central and State Government
Department, Bankers and valued customers of the company.

FOR & ON BEHALF OF THE BOARD OF
ARVEE LABORATORIES (INDIA) LIMITED

Place: Ahmedabad
Dated: 12^th August, 2025

Sd/-

CHAIRMAN CUM MANAGING DIRECTOR
Shalin Sudharkarbhai Patel
(DIN: 01779902)