Our Directors have pleasure in presenting the Forty One (41^st) Annual Report on the business and
operations of your Company together with the audited accounts for the financial year ended March
31^st, 2025.

1. Financial Summary/ Performance of the Company:

(Rs. Tn Lakhs)

2. Dividend

Your directors have considered it financially prudent in the long-term interest of the Company
to reinvest the profits in the business of the Company to build a strong reserve base and grow
the business of the Company. No final dividend has therefore been recommended for the year
ended March 31, 2025

3. Transfer to Reserves

During the year under the review your company has not declared dividend from the general
reserves of the Company Your Company has not transferred any sum to the General Reserves.

4. Transfer of Unclaimed Dividend and Unclaimed Shares:

In terms of the provisions of Investor Education and Protection Fund (Accounting, Audit,
Transfer and Refund) Rules, 2016 (including amendments and modifications, thereof), no
unpaid/unclaimed dividends were transferred during the year under review to the Investor
Education and Protection Fund.

5. Operations Review and the state of affairs of the Company

During the year under the review your Company focuses on achieving milestone in the same
area. This would strengthen the generation and sustainability of revenue in the years to come.
Your Company achieved total revenue of Rs 236.21/- Lakhs in 2024-25 as against Rs. 111.00/-
Lakhs in 2023-24 and making a profit of Rs. 182.14/- Lakhs in 2024-25 as against Profit of Rs.
17.39/- Lakhs in 2023-24.

6. Nature of Business

There is change in the nature of business of the company during the year. The company is
engaged in the business of Film and Entertainment Production To produce, co-produce, finance,
acquire, own, lease, license, exploit, distribute, exhibit, and otherwise deal in films, web series,
documentaries, animation, short films, and other forms of audio-visual content for all media
platforms, including theatrical release, television broadcasting, streaming services, and online
platforms. To develop, write, acquire, and own stories, scripts, screenplays, and other creative
content for film and entertainment projects. To engage, employ, or collaborate with writers,
directors, actors, producers, technicians, and other personnel involved in film and entertainment
production. To establish, acquire, maintain, and operate studios, editing facilities, and other
infrastructure necessary for film and entertainment production.

Audio Content Production: To create, produce, acquire, own, distribute, license, and exploit
audio content, including podcasts, audiobooks, music recordings, sound effects, and other forms
of audio entertainment. To develop and manage a portfolio of intellectual property related to
audio content.

Digital Content Production: To develop, create, acquire, own, distribute, license, and exploit
digital content in various formats, including websites, mobile apps, games, virtual reality
experiences, and other innovative forms of digital entertainment.

To engage in digital marketing and promotion of the Company's content across various online
platforms Film and Entertainment Trade To acquire, own, sell, lease, license, distribute, exhibit,

and otherwise deal in films, television programs, audio content, digital content, and other
entertainment-related products and services. To participate in film festivals, markets, and other
industry events. To enter into co-production agreements, joint ventures, and other strategic
partnerships with other companies in the film and entertainment industry.

Ancillary Activities to carry on the business of merchandising, licensing, and exploiting the
intellectual property rights related to the Company's content. To invest in other businesses or
ventures related to the film and entertainment industry. To do all such things as are incidental or
conducive to the attainment of the above objects or any of them.

7. Share Capital/ Capital Structure and Listing of Share

The Authorised Share capital of the Company as at 31^st March, 2025 was Rs. 56,00,00,000/-
divided into 5,60,00,000 equity shares of Rs. 10/- each.

The Paid-up Share Capital of your Company as on 31^st March, 2025 was Rs. 55,05,50,950
divided into 55,055,095 equity shares of Rs. 10/- each.

Further, during the year, the company has passed a resolution for Increase in Authorised Share
Capital of the Company from Rs. 7,50,00,000/- (Seven Crores and Fifty Lakhs Rupees only)
divided into 75,00,000 (Seventy Five Lakh) equity shares of face value of Rs. 10/- (Ten Rupee
only) each to 30,00,00,000/- (Thirty Crores Rupees only) divided into 3,00,00,000 (Three
Crores Rupees) equity shares of face value of Rs. 10/- (Ten Rupee only) with the approval of
shareholders of the company through Postal Ballot dated 31^st August, 2024

Further, during the year, the company has passed a resolution for Increase in Authorised Share
Capital of the Company from Rs. 30,00,00,000/- (Thirty Crores Rupees only) divided into
3,00,00,000 (Three Crores Rupees) equity shares of face value of Rs. 10/- (Ten Rupee only)
each to 56,00,00,000 /- (Rupees Fifty-Six Crores Only) divided into 5,60,00,000 (Rupees Five
crores Sixty lakhs Only) equity shares of face value of Rs. 10/- (Ten Rupee only) with the
approval of shareholders of the company through Postal Ballot dated 19^th April, 2025.

During the year under review, the company allotted 4,85,78,025 Rights Equity Shares of face
value of ?10/- each on 23^rd June 2025 at a price of ?10/- per Rights Equity Share.

The Company’s equity shares are listed with BSE Limited.

8. Material changes and commitments affecting the financial position of the Company

Material Changes and Commitments Affecting Financial Position of the Company:

Subsequent to the end of the financial year i.e. 31^st March 2025 and up to the date of this
Report, the following material changes and commitments have occurred which have an impact
on the financial position of the Company:

During the year under review, the company has on June 23, 2025, allotted 4,85,78,025 Rights
Equity Shares of face value of ?10/- each at a price of ?10/- per Rights Equity Share.

(i) Change in Name of the Company

During the year under review, the name of the Company was changed from Indra Industries
Limited to Bluegod Entertainment Ltd, pursuant to the approval of the Board of Directors,
shareholders, and the Ministry of Corporate Affairs.

The change was undertaken to better reflect the Company’s evolving business focus and
strategic direction. The Board approved the change in name at its meeting held on 05^th
September, 2024 which was subsequently approved by the shareholders through a 40^th Annual
General Meeting dated 28^th September, 2024. The Registrar of Companies, Gwalior, issued a
fresh Certificate of Incorporation pursuant to name change on 18^th October, 2024. Accordingly,
the new name Bluegod Entertainment Ltd is effective from that date.

All necessary regulatory filings and updates with the stock exchanges and other authorities have
been duly completed.

(ii) Promoter Reclassification

During the year under review, the Company received a request from certain individuals/entities
forming part of the existing promoter/promoter group for reclassification from the category of
“Promoter/Promoter Group” to “Public” category, in accordance with Regulation 31A of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board of Directors at its meeting held on 29^th June, 2024, after considering the request and
ensuring compliance with the applicable regulatory requirements, approved the reclassification
of Ms. Astha Jain, Mr. Virendraa K Jain, Mr. Nilay Jain and Mr Kovid Jain from
“Promoter/Promoter Group” to “Public” category, subject to the approval of the shareholders
and stock exchanges.

The reclassification has no impact on the management or control of the Company, which
continues to remain with the existing promoters/promoter group.

The Company has made all requisite disclosures in this regard to the stock exchanges as per
applicable laws.

9. Subsidiaries, Associate Companies and Joint Venture

The Company is not required to consolidate its financial statement for the year ended 31^st
March, 2025 as the Company does not have any subsidiaries, joint venture, or associate
Companies.

10. Indian Accounting Standards (Ind As):-

The Ministry of Corporate Affairs (MCA) vide its notification in the Official Gazette dated
February 16, 2015, notified the Indian Accounting Standard (Ind As) and Ind AS has replaced
the existing Indian GAAP prescribed under Section 133 of the Companies Act, 2013 read
with Rule 7 of the Companies (Accounts) Rules, 2014. The Company has adopted Indian
Accounting Standards (“Ind AS”) from April 01, 2017 (transition date to Ind AS is April 01,
2016) and the financial Statements have been prepared in accordance with recognition and
measurement principal of Indian Accounting Standards (“Ind AS”) as prescribed under the
Companies (Indian Accounting Standards) Rules, 2015, as specified in section 133 of the
Companies Act, 2013.

The Annual Accounts for the year ended 31^st March, 2025 have also been prepared in
accordance with Indian Accounting Standard (Ind AS).

11. Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and
Outgo

The Company being engaged in the business of Film and Entertainment Production and Audio
and Video content Production and does not have any energy utilization or technology
absorption. The Company during the year under review does not have any inflow or outflow in
foreign exchange.

The Information relating to conservation of energy, technology absorption, foreign exchange
earnings and outgo under Section 134(3) (m) of the Companies Act, 2013 read with Rule 8(3)
of the Companies (Accounts) Rules, 2014 is enclosed as “Annexure-I” and forms part to this
report.

12. Board Meetings

During the year under review, the Board met Fourteen (14) times.

The intervening gap between the Meetings was within the period prescribed under the
Companies Act, 2013.

Board Meeting dates are finalized in consultation with all directors and agenda papers backed
up by comprehensive notes and detailed background information are circulated well in advance
before the date of the meeting thereby enabling the Board to take informed decisions.

Following is the attendance of each of the Directors at the Board Meetings held during the
period under review:

13. Committee Meetings

a. Audit Committee

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

The Audit Committee consists of the following members as on March 31, 2025:

i. Afsana Mirose Kherani

ii. Amit Bajaj

iii. Saloni Mehra

During the year under review, the Audit Committee met Five (5) times.

Following is the detail of the attendance of each of the members of the Audit Committee at its
Meeting held during the year under review:

b. Nomination and Remuneration Committee

The composition of the Nomination and Remuneration Committee and terms of reference are in
compliance with the provisions of Section 178 of the Act.

The Nomination and Remuneration Committee consists of the following members as on March
31, 2025:

i. Afsana Mirose Kherani

ii. Amit Bajaj

iii. Saloni Mehra

During the year under review, the Nomination and Remuneration Committee met 2 (Two)
times.

Following is the detail of the attendance of each of the members of the Nomination and
Remuneration Committee at its Meeting held during the year under review:

c. Stakeholders Relationship Committee

The composition of the Stakeholders Relationship Committee and terms of reference are in
compliance with the provisions of Section 178 of the Act.

The Stakeholders Relationship Committee consists of the following members as on March 31,
2025:

i. Afsana Mirose Kherani

ii. Amit Bajaj

iii. Saloni Mehra

During the year under review, the Stakeholders Relationship Committee met 2 (Two) times.

Following is the detail of the attendance of each of the members of the Stakeholders
Relationship Committee at its Meeting held during the year under review:

14. Annual Return

The Extract of Annual Return as required under section 92(3) of the Companies Act, 2013 in
Form MGT-9 is available on website of the Company at www.bluegod.in.

15. Directors & Key Managerial Personnel

The Company has a professional Board with Executive Directors & Non-Executive Directors
who bring the right mix of knowledge, skills, and expertise and help the Company in
implementing the best Corporate Governance practices.

a) Retirement by Rotation

Pursuant to the provisions of Section 152 and other applicable provisions of the Companies
Act, 2013, One- third of such of the Directors as are liable to retire by rotation, shall retire
every year and, if eligible, offer themselves for re-appointment at every AGM.
Consequently, Ms. Afsana Mirose Kherani (DIN: 09604693), Director, is liable to retire by
rotation at the ensuing Annual General Meeting of the Company and being eligible, she has
offered herself for re-appointment. Necessary resolution for her re-appointment are included

in the Notice of AGM for seeking approval of members. The Board of Directors has
recommended her re-appointment.

The details as required under Regulation 36(3) of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 regarding re-appointment of Ms. Afsana Mirose Kherani,
his brief resume, the nature of expertise in specific functional areas, names of Companies in
which he hold Directorships, committee Memberships/ Chairmanships, his shareholding in
the Company etc., are furnished in the annexure to the notice of the ensuing AGM.

16. Declaration from Independent Directors on Annual Basis

The Independent Directors have submitted their declaration of independence, stating that:

a) They continue to fulfill the criteria of independence provided in Section 149 (6) of the Act
along with Rules framed thereunder and Regulation 16(1)(b); and

b) There has been no change in the circumstances affecting his/ their status as Independent
Directors of the Company.

The Independent Directors have also confirmed that they have complied with the Company’s
Code of Conduct. In terms of Section 150 of the Act and Rules framed thereunder, the
Independent Directors have also confirmed their registration (including renewal of applicable
tenure) and compliance of the online proficiency self- assessment test with the Indian Institute
of Corporate Affairs (IICA).

The Board opined and confirm, in terms of Rule 8 of the Companies (Accounts) Rules, 2014
that the Independent Directors are persons of high repute, integrity and possess the relevant
expertise and experience in their respective fields.

Policy on Directors’ appointment and Policy on Remuneration

Pursuant to the provisions of Section 134 (3) (e) and Section 178 of the Companies Act,
2013 and in terms of Regulation 19(4) of the SEBI (Listing Obligation and Disclosure
Requirement) Regulations, 2015, the Board has formulated a policy on Nomination and
Remuneration for its Directors, Key Managerial Personnel and senior management.

The salient features of the Policy are:

• It provides the diversity on the Board of the Company and

• It provides the mechanism for performance evaluation of the Directors

• It lays down the parameters based on which payment of remuneration (including sitting
fees and remuneration) should be made to Independent Directors and Non-Executive
Directors.

• It lays down the parameters based on which remuneration (including fixed salary,
benefits and perquisites, bonus/ performance linked incentive, commission, retirement
benefits) should be given to Whole-time Directors, KMPs and rest of the employees.

• It lays down the parameters for remuneration payable to Director for services rendered
in other capacity.

It is hereby affirmed that the Remuneration paid is as per the Remuneration Policy of the
Company. During the year under review, there were no substantive changes in the Policy
except to align the Policy with amendments made to applicable laws.

17. Directors Performance Evaluation Report

In terms of Companies Act, 2013 and SEBI Listing Regulations, there is requirement of formal
evaluation by the Board of its own performance and that of its committees and individual
directors.

The Board, in consultation with its Nomination and Remuneration Committee, has formulated a
framework containing, inter-alia, the criteria for performance evaluation of the entire Board of
the Company, its Committees and individual directors, including Independent Directors. The
framework is monitored, reviewed and updated by the Board, in consultation with the
Nomination and Remuneration Committee, based on need and new compliance requirements.

The Board of Directors have carried out the annual evaluation of its own performance, the
Individual Directors including the Chairman as well as the evaluation of the working of its
Committees. The evaluation of Board as a whole and Non-Independent Directors including
Chairman was done by the Independent Directors in their meeting held on 31^st March, 2025.The
details of evaluation process of the Board, its Committees and individual directors, including
independent directors have been provided under the Corporate Governance Report which forms
part of this Report.

18. Director’s Responsibility Statement

Pursuant to Section 134(3) (c) and Section 134(5) of the Companies act, 2013, the Board of
Directors of the Company hereby confirms and accepts the responsibility for the following in
respect of the Audited Annual Accounts for the financial year ended March 31, 2025:

a) That in the preparation of the annual accounts for the financial year ending 31^st March,
2025, the applicable accounting standards had been followed along with proper explanation
relating to material departures;

b) That the directors had selected the accounting policies and applied them consistently and
made judgements 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
and loss of the Company for that period;

c) That the directors had 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;

d) That the annual accounts/financial statements have been prepared on a going concern basis;

e) That proper internal financial controls were in place and that the financial controls were
adequate and were operating effectively;

f) That 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.

19. Auditors

i. Statutory Auditor and their Report

Pursuant to Section 139 and 141 of the Act and relevant Rules prescribed there under, the
Statutory Auditors have confirmed that they are not disqualified from continuing as Auditors
of the Company.

The Audit report on the financial statement of the Company for the FY 2024-25 forms part of
the Annual Report. There are no qualifications, reservations or adverse remarks or
disclaimer made by M/S S D P M & CO Chartered Accountants, in their report for the
financial year ended 31^st March, 2025.

Pursuant to Section 134 (3) (ca) during the year under review, the Statutory Auditor have not
reported any instances of frauds committed in the Company by its Officers or Employees to the
Audit Committee or the Board or Central Government under Section 143(12) of the Companies
Act, 2013, details of which needs to be mentioned in this report.

ii. Cost Auditors and Maintenance of Cost Records

In pursuant to Section 148(1) of the Companies Act, 2013 and rules and regulation made there
under read with the Companies (Accounts Rules) Amendment Rules, 2018, Cost audit is not
applicable to the Company and therefore maintenance of cost records as specified under
section 148(1) of the Act, is not required.

iii. Secretarial Auditors and Secretarial Audit Report

In terms of Section 204(1) of Companies Act, 2013, read with Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s
Vishakha Agrawal & Associates, Practising Company Secretaries, Indore as the Secretarial
auditor of the Company for the financial year ending 31^st March, 2025.

The Secretarial Audit Report submitted by M/s Vishakha Agrawal & Associates, Practising
Company Secretaries in prescribed format in MR-3 to the shareholders of the Company is
annexed to this Report as “Annexure-A”

20. Particulars of loans, guarantees or investments made under Section 186 of the Companies
Act, 2013

Details of loans, guarantees and investments covered under the provisions of Section 186 of the
Act are given in the Note No. 1.10 to the financial statements.

21. Unsecured Loan from Directors:

During the year under review, the Company has borrowed an unsecured loan from Directors of
the Company. Details of which are given in the Note No. 1.10 to the financial statements.

22. Shifting of Registered Office of the Company

On January 31^st , 2025, the Company has shifted its registered office from 406, Airen Heights,
Opp. Orbit Mall, Scheme No.54, Vijay Nagar, A.B. Road, Indore M.P To 228 Part-B, The
Zodiac Mall, Bicholi Mardana, Indore (M.P.)-452010 with in the same city.

On July 29^th, 2025, the Company has shifted its registered office from from 228 Part-B, The
Zodiac Mall, Bicholi Mardana, Indore (M.P.)-452010 To 301-G Goyal Vihar, Gate No. 2
Khajrana Road, Indore (M.P) within the same city.

23. Related party transactions

None of the transaction with related parties (related to business) falls under the scope of
Section 188(1) of the Act, Information on transactions with related parties pursuant to section
134 (3) (h) of the Act read with rule 8(2) of Companies (Accounts) Rules, 2014 are given in
“Annexure 1” in Form AOC-2 and same forms part of this report.

24. Internal Audit

At the beginning of each financial year, an audit plan is rolled out with approval of the
Company’s Audit Committee. The plan is aimed at evaluation of the efficacy and adequacy of
internal control systems and compliance thereof, robustness of internal processes, policies and
accounting procedures and compliance with laws and regulations. Based on the reports of
internal audit, process owners undertake corrective action in their respective areas. Significant
audit observations and corrective actions are periodically presented to the Audit Committee of
the Board.

25. Internal Financial Control

According to Section 134(5)(e) of the Companies Act, 2013 read with rule 8 of the Companies
(Accounts) Rules, 2014, the term Internal Financial Control(IFC) means the policies and
procedures adopted by the Company for ensuring the orderly and efficient conduct of its
business, including adherence to Company’s policies, the safeguarding of its assets, the
prevention and detection of frauds and errors, the accuracy and completeness of the accounting
records, and the timely preparation of reliable financial information.

The Company believes that a strong internal control framework is very much essential and is
part of good corporate governance practices. Your Company has in place well defined and
adequate internal financial control framework commensurate with the size and complexity of
its business to ensure proper recording of financial &operational information, compliance of
various internal control and other regulatory/statutory compliances. All internal Audit findings
and control systems are periodically reviewed by the Audit Committee of the Board of
Directors, which provides strategic guidance on internal control.

26. Risk Management Policy

Pursuant to the provisions of Section 134 (3) (n) of the Companies Act, 2013, the Company
has put in place comprehensive risk assessment and minimization procedures, which are
reviewed by the Board periodically. In order to effectively and efficiently manage risk and
address challenges, the Company has formulated Risk Management Policy.

The risk management approach is based on the clear understanding of the variety of risks that
the organization faces, disciplined risk monitoring and measurement and continuous risk
assessment and mitigation reserves. The objective of any risk identification and assessment
process is to evaluate the combination of like hood and level of negative impacts from an
event. The three main components of risk assessment are business risk, service/ operational
risk and external risk. The Company manages the risk in line with current risk management
best practices. This facilitates the achievement of our objectives, operational effectiveness and
efficiency, protection of people and assets, informed decision-making and compliance with
applicable law and regulations. The Board has formulated policy on Risk Management Policy
and it may be accessed at the website of the company at the Website of the Company.

27. Committees of Board

(i) Corporate Social Responsibility (CSR)

In pursuant to Section 135 of the Companies Act, 2013 read with Companies (Corporate Social
Responsibility Policy) Rules, 2014, Every company having net worth of rupees five hundred
crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five
crore or more during the immediately preceding financial year shall constitute a Corporate

Social Responsibility Committee of the Board consisting of three or more Directors, out of
which at least one director shall be an independent director.

During the year under review none of the condition as prescribed under Section 135 of the
Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules,
2014 are applicable to the company; hence the provision is not applicable.

(ii) Audit Committee

Audit Committee of the Company meets the requirements of Section 177 of the Companies
Act, 2013 and Regulation 18 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations 2015. The details of the composition of the Audit Committee as required under the
provisions of Section 177(8) of the Companies Act, 2013 are given in the Corporate
Governance Report which forms part of this annual report.

The terms of reference of Audit Committee are confined to Companies Act 2013 & Regulation
18 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 read
with Part-C of Schedule II.

During the year under review, the Board has accepted all the recommendations of the Audit
Committee. The details of meetings with attendance thereof and terms of reference of Audit
Committee have been provided in the Corporate Governance Report which forms part of this
report.

(iii) Nomination and Remuneration Committee

The Company has formed the Nomination and Remuneration Committee in accordance with
the provisions of the Section 178 Companies Act 2013 and Regulation 19 of SEBI (Listing
Obligation and Disclosure Requirement) Regulations, 2015. The details about the composition
of the said committee of the Board of Directors along with attendance thereof have been
provided in the Corporate Governance Report forming part of this report.

(iv) Stakeholder Relationship Committee

The Company has also formed Stakeholder’s Relationship Committee in compliance to the
Companies Act, 2013 & Regulation 20 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015. The details about the composition of the said committee of
the Board of Directors along with attendance thereof have been provided in the Corporate
Governance Report forming part of this report.

28. Disclosure on Pubic Deposit

During the year under review, the Company has neither accepted nor renewed any deposits in
terms of Chapter V of the Companies Act, 2013 and Rules framed thereunder.

29. Managing the Risks of Fraud, Corruption and Unethical Business Practices
Disclosure on Vigil Mechanism / Whistle Blower Policy

The Company has established a Vigil Mechanism/Whistle blower Policyas a part of its vigil
mechanism. The purpose of this Policy is to enable any person including the directors,
employees, other stakeholders, etc. to raise concerns regarding unacceptable and improper
practices and/or any unethical practices in the organization without the knowledge of the
management.

All employees shall be protected from any adverse action for reporting any unacceptable or
improper practice and/or any unethical practice, fraud or violation of any law, rule or
regulation, potential or actual violation, leakage of unpublished price sensitive information
without fear of reprisal.

The Company believes in the conduct of its affairs and its constituents by adopting the highest
standards of professionalism, honesty, integrity, and ethical behavior, in line with the Code of
Conduct (‘Code’). All the stakeholders are encouraged to raise their concerns or make
disclosures on being aware of any potential or actual violation of the Code, policies or the law.
Periodic awareness sessions are also conducted for the same.

The Board has formulated policy on Vigil Mechanism/ Whistle blower Policy and the same
may be accessed at the website of the Company.

30. Significant and material orders passed by the regulators or courts or tribunals impacting
the going concerns status and company's operations in future

The Company has not received any significant or material orders passed by any regulatory
authority, court or tribunal which shall impact the going concern status and Company's
operations in future.

31. Corporate Governance

Good Corporate practice is a norm at Bluegod Entertainment Limited (Formerly Known as

Indra Industries Limited). The Company is committed to maintain the highest standards of
Corporate Governance and adhere to the Corporate Governance requirements set out by the
Securities and Exchange Board of India (SEBI). Besides complying with the legal framework
of Corporate Governance Practices. As per the requirement of Regulation 34(3) of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 executed with the Stock
Exchange(s), Your Company has complied with the Corporate Governance norms as stipulated
under the Listing Regulations. A detailed report on Corporate Governance forms part of this
Annual Report.

32. Management Discussion & Analysis Report

As per requirements of Listing Regulations, a detailed review of the developments in the
industry, performance of the Company, opportunities and risks, internal control systems,
outlook etc. of the Company is given under the head Management Discussion and Analysis
Report, which forms part of this Annual Report.

33. Sexual Harassment of Woman at work place

The Company has zero tolerance for sexual harassment at workplace and had in place policy on
Prevention, Prohibition and Redressal of Sexual Harassment for women at workplace in
accordance with the requirements of Sexual Harassment of Women at Workplace (Prevention,
Prohibition & Redressal) Act, 2013 (‘POSH Act’) and Rules made thereunder.

As per the requirement of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition & Redressal) Act, 2013 (POSH Act) and Rules made thereunder, the Company has
constituted Internal Committees (IC). Our POSH Policy is now inclusive and gender neutral,
detailing the governance mechanisms for prevention of sexual harassment issues relating to

employees across genders including employees who identify themselves with LGBTQI
community. During the year, company has not received any sexual harassment complaints.

To build awareness in this area, the Company has been conducting induction/refresher
programmes in the organisation on a continuous basis. During the year, your Company organised
offline training sessions on the topics of Gender Sensitisation and Code Policies including POSH
for all office employees.

During the year under review, no complaint pertaining to sexual harassment at work place has
been received by the Company.

34. Independent Director’s familiarisation Programme

The Company has formulated a programme for familiarization of Independent Director with
regard to roles, rights, responsibilities, nature of the industry in which the Company operates,
the business model of the Company etc. The details of the Familiarization Programmes as
conducted by the Company are available on the website of the Company at www.bluegod.in.
However, during the year under review, there was no change in the nature of business of the
company and its business vertical/structure/operational strategy, etc., which would have
necessitated fresh Familiarization Programme for Independent Directors.

The details of familiarisation program may be accessed on the Company’s website

https://bluegod.in/wp-content/uploads/2025/07/FAMILIARIZATION-PROGRAMME-FOR-

INDEPENDENT-DIRECTORS-1.pdf

35. Secretarial Standards

The applicable Secretarial Standards, i.e. SS-1 and SS-2, relating to ‘Meetings of the Board of
Directors’ and ‘General Meetings’, respectively, have been duly followed by the Company.

36. Investor Services

To improve investor services, your Company has taken the following initiatives:-

• An Investor Relation Section on the website of the Company (www.bluegod.in) has been
created to help investors to know the policies and rights of investors.

• There is a dedicated e-mail id hello@bluegod.in for sending communications to the
Company Secretary. Members may lodge their requests, complaints and suggestions on this
e-mail as well.

37. Listing

The Company’s equity shares are listed on BSE Limited (“BSE”) having nation-wide trading
terminals.

38. General

Your Directors state that no disclosure or reporting is required in respect of the following
matters as there were no transactions on these matters during the year under review:

a) Details relating to deposits covered under Chapter V of the Act.

b) Issue of equity shares with differential rights as to dividend, voting or otherwise.

c) The Company does not have any scheme of provision of money for the purchase of its own
shares by employees or by trustees for the benefit of employees.

d) Any remuneration or commission received by Managing Director of the Company, from
any of its subsidiary.

e) During the period No fraud has been reported by the Auditors to the Audit Committee or
the Board.

f) There is no proceeding pending under the Insolvency and Bankruptcy Code, 2016.

g) There was no instance of onetime settlement with any Bank or Financial Institution.

39. Compliance with the Maternity Benefit Act, 1961

The Company has complied with the provisions of the Maternity Benefit Act, 1961, including
all applicable amendments and rules framed thereunder. The Company is committed to
ensuring a safe, inclusive, and supportive workplace for women employees. All eligible women
employees are provided with maternity benefits as prescribed under the Maternity Benefit Act,
1961, including paid maternity leave, nursing breaks, and protection from dismissal during
maternity leave.

The Company also ensures that no discrimination is made in recruitment or service conditions
on the grounds of maternity. Necessary internal systems and HR policies are in place to uphold
the spirit and letter of the legislation.

40. Details of application made or any proceeding pending under the insolvency and
bankruptcy code, 2016 during the year along with their status as at the end of the
financial year:

During the year under review and till date of this Report, the Company has neither made any
application against anyone nor any proceedings were pending against the Company under the
Insolvency and Bankruptcy Code, 2016.

41. Details of difference between the 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:

The Company has neither availed any loan from banks or financial institution and hence there is no
application being ever made for One Time Settlement (OTS) with any banks or financial institution.

42. Appreciation

Your Company has been able to perform efficiently because of the culture of professionalism,
creativity, integrity and continuous improvement in all functions and areas as well as the
efficient utilization of the Company's resources for sustainable and profitable growth.

The Directors hereby wish to place on record their appreciation of the efficient and loyal
services rendered by each and every employee, without whose whole-hearted efforts, the overall
satisfactory performance would not have been possible.

The Directors appreciate and value the contribution made by every member of the Bluegod
Entertainment Limited (Formerly Known as Indra Industries Limited) family.

By the order of the Board of Directors
For Bluegod Entertainment Limited
(Formerly Known As Indra
Industries Limited)

Sd/- Sd/-

Place: Indore Nitin Ashokkumar Khanna Afsana Mirose Kherani

Date: 12^th August, 2025 Managing Director Non - Executive Non -

Independent Director

(DIN: 09816597) (DIN:- 09604693)