Your directors have pleasure in presenting their report together with the audited Balance sheet as at March 31^st
2025 and Statement of Profit & Loss for the year ended on that date.

Financial Results: (^. In Lakhs)

Share Capital:

The paid-up share capital of the company is ?. 18,66,95,750 as on March 31^st, 2025, during the year i.e., April 1^st
2024 to March 31^st, 2025 there were no changes during the said period.

Dividend:

To preserve the earnings and reinvest it in the business for its growth the company has decided to not
recommend any dividend.

Transfer to Reserve:

During the Financial Year ended March 31^st, 2025, the Company has transferred a sum of ?. 47.07 Lakhs towards
reserve under Section 45-IC of the RBI Act, 1934.

Change in the nature of the business:

During the year under review, there was no change in the nature of the business of the Company.

Company's Performance:

Revenue from Operation for financial Year 2024-2025 is ?. 642.04 Lakhs Profit before Tax and profit after tax for
Financial Year 2024-2025 are ?. 305.23 lakhs and ?. 226.23 Lakhs respectively.

Deposits:

We have not accepted any Deposits and as such no amount of Principle or Interest was outstanding as on Balance
Sheet date.

Management Discussion and Analysis Report:

In terms of provisions of Regulation 34 of Securities and Exchange Board of India (Listing Obligation and
Disclosure Requirements) Regulation 2015, the Management discussion and Analysis is set out in this Annual
Report.

Listing with Stock Exchanges:

The Company confirms that it has paid the Annual Listing Fees for the year 2025-2026 to (BSE Scrip Code: 538708
& CSE Scrip Code: 015111) where the Company's shares are listed.

Dematerialization of shares:

86.20% of the Company's paid-up Equity share Capital is in dematerialized form as on 31/03/2025 and the
balance (i.e., 13.80%) are in physical form. The Company's registrar and share transfer agent is M/s Niche

Technologies Private Limited having their registered office at 3A, Auckland Place, 7^th Floor, Room No. 7A & 7B,
Kolkata - 700017.

Number of Board Meetings Held:

The Board of Directors duly met four times during the financial year from April 1^st 2024 to March 31^st 2025. The
maximum Interval between any two meetings did not exceed 120 days as prescribed in the Companies Act,
2013.

Directors and KMP:

1. Re-appoint Mr. Abbas Mustufa Rupawala (DIN: 10756342) as Non-Executive Non-Independent Director,
who retires by rotation and being eligible, has offered himself for re-appointment.

2. Re-appointment for Second term of Mrs. Jyoti Sureshbhai Kantariya (DIN: 08385987) as Non-Executive
Independent Director of the company for the period of 5 Years with effect from the 1^st April, 2025.

Note:

Extra-Ordinary General Meeting (EGM) was conducted on dated April 3^rd, 2024 for Shifting of Register Office
from 16/1A, Abdul Hamid Street, 5^th Floor, Room No.5E, Kolkata - 700069, West Bengal to Plot No. 1280, SH No.
G/F 9, Eva Surbhi, Waghawadi Road, Takhteshwar, Bhavnagar - 364002, Gujarat, India with approval of the
shareholder.

Human Resources:

The Company believes in best HR practices by providing its employees a world class working environment, giving
them equal opportunities to rise and grow. We continue to implement the best of HR policies so as to ensure
that talent retention is ensured at all levels. Employee relations continued to be cordial and harmonious at all
levels and in all divisions of the Company during the year. Presently your Company does not have any employee
falling within the scope of prescribed Section of the Companies Act, 2013 read with companies applied rules.

Your Company has complied with all applicable laws. The Company has been complying with relevant laws and
has been taking all necessary measures to protect the environment and maximize worker protection and safely.
Provision of the Gratuity Act ,1972 is applicable to the Company for the financial year ended March 31, 2025

Significant and Material Orders:

There are no significant and material orders passed by the regulators or courts or tribunals impacting the going
concern status and Company's operations in future.

Board Evaluation:

The Board carried out an annual performance evaluation of its own performance, the individual directors as well
as the working of the Committees of the Board. The performance evaluation of Independent Directors was
carried out by the entire Board. The performance of the Non-Independent Directors was carried out by
Independent Directors. Details of the same are given in the report on the Corporate Governance annexed to this
report.

Internal Financial Control and its adequacy:

The Board has adopted policies and procedures for ensuring the orderly and efficient conduct of its business,
including adherence to the Companies 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 disclosures.

Subsidiaries and Associates:

There company has no Subsidiary as on 31.03.2025. There are no associate or joint venture companies within
the meaning of Section 2(6) of the companies Act 2013.

Declaration by Independent Directors:

The Company has received necessary declaration from each independent director under Section 149(7) of the
Companies Act, 2013 that he/she meets the criteria of Independence laid down in Section 149(6) of the
Companies Act, 2013 and Regulation 25 of SEBI (Listing obligation and Disclosure requirements) Regulations
2015.

Directors Responsibility Statement:

Pursuant to Section 134(5) of the Companies Act, 2013 Director of your company hereby state and confirm that:

a) In the preparation of the annual accounts for the year ended 31^st March 2025, the applicable accounting
standards have been followed along with proper explanation relating to material departures;

b) They 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 financial year and of the Loss of the Company for the same period;

c) The directors have 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) They have prepared the annual accounts on a going concern basis;

e) They have laid down internal financial controls in the company that are adequate are were operating effectively;

f) They have devised proper systems to ensure compliance with the provisions of all applicable laws and these are
adequate and are operating effectively.

g) Remuneration to the Directors/KMP (^. in Lakh):

Managerial Remuneration and Particular of Employees:

The Information required pursuant to Section 197 read with Rule 5 of the Companies (Appointment and
Remuneration of Managerial Remuneration) Rules, 2014 in respect of the employees of the Company are given
in Annexure -1 forming part of this report.

Annual Return:

In accordance with the provisions of Section 92(3) & Section 134(3)(a) of the Companies Act, 2013 read with
Rule 12 of the Companies (Management & Administration) Rules, 2014, as amended from time to time, copy of
the Annual Return can be accessed from the following link: https://www.econo.in/annualreturn.php.

Auditors:

Statutory Auditors: -

At the Annual General Meeting held on September 25, 2025 the Auditors M/s. H S K & CO LLP Chartered
Accountants were appointed as Statutory Auditor of the Company for second term to hold office till the

conclusion of the Forty-Seven (47^th) Annual General Meeting of the Company.

Secretarial Auditor:

Appointment Mrs. Neha Poddar, Practicing Company Secretaries, on dated May 30^th, 2025 to conduct
Secretarial Audit for a term of 5 (five) consecutive year forming part of the Annual report.

Cost Auditors:

Cost Audit under Section 148 of the Companies Act, 2013 is not applicable to the Company. Therefore, the
company has not appointed any Cost Auditor.

Internal Auditors:

CA Sourabh Jalan, partner of M/s G. Goenka & Co. was reappointed to conduct the Internal Audit of the company
for the financial year 2024-2025.

Auditors' Certificate on Corporate Governance:

As required by SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015 the auditors' certificate
on corporate governance is enclosed as Annexure to the Board Report.

Audit Observations:

Auditors' observation is suitably explained in notes to the Accounts and are self-explanatory.

Corporate Governance:

Pursuant to Regulation 34 of the listing Regulation read with Schedule V to the said regulations, a compliance
report on Corporate Governance has been annexed as part of Annual report along with Auditor's Certificate.

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo:

Information required under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies
(Accounts) Rules, 2014 is not applicable to the Company.

Corporate Social Responsibility:

In terms of Section 135 and Schedule VII of the Companies Act, 2013, the CSR is not applicable for the Company.

Vigil Mechanism:

In pursuant to the provisions of Section 177(9) & (10) of the Companies Act, 2013 Vigil Mechanism for Directors
and Employee to report genuine concerns has been established.

Related Party Transactions:

Relate Party Transactions were entered during the financial year; therefore, the requirement of Form AOC-2 is
attached Annexure-2.

Particulars of Loans, Guarantees or Investments:

Loans, Investments are done as per Companies Act, 2013, though company is NBFC its main activity is providing
Loans repayable on demand and Investing in Shares, Securities. Therefore, disclosed in Notes to Accounts.

Listing Agreement:

The Securities and Exchange Board of India on September 2, 2015 issued SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 with the aim to consolidate and streamline the provisions of the Listing
Agreement for different segments of Capital Market to ensure better enforceability, the said regulation was
effective from December 01, 2015. Accordingly, all listed entities were required to enter into the Listing
Agreement within six months from the effective Date. The Company entered into listing agreement with the
Bombay Stock Exchange and Calcutta Stock Exchange on February 2017.

Registrar and Share Transfer Agent:

M/s Niche Technologies Private Limited is Company's Registrars and Share Transfer Agent (RTA) as common
agency both for physical and demat shares, as required under the Securities Contract (Regulation) Act, 1956.
The contact details of RTA forms part of the Corporate Governance Report.

Disclosure under Sexual Harassment of Women at Work Place (Prevention, Prohibition and Redressal) Act-
2013:

Your company is committed to creating and maintaining a secure work environment where its employee,
customers, Vendors etc. can work and pursue business together in an atmosphere free of Harassment,
exploitation and intimidation. To empower women and protect woman against Sexual harassment, a policy for
prevention of Sexual harassment has been rolled out. The policy allows employees to report sexual harassment
at the work place.

Disclosure under Insolvency and Bankruptcy Code, 2016:

During the year under review, neither any application was made nor any proceeding is pending against the
Company under the Insolvency and Bankruptcy Code, 2016.

Maternity Benefit Provided by the Company Under Maternity Benefit Act, 1961:

If female employees exist the Company declares that it has duly compelled with the provisions of the Maternity
Benefits Act, 1961. All eligible women employees have been extended the statutory benefits prescribed under
the Act, including paid maternity leave, continuity of salary and service during the leave period, and post¬
maternity support such as nursing breaks and be flexible return-to-work options, as applicable. The Company
remains committed to fostering an Inclusive and supportive work environment that upholds the rights and
welfare of its women employees in accordance with applicable laws.

Details of difference between amount of the valuation:

There was no one time settlement by the Company with the Banks or Financial Institutions during the year under
review, thus, the details of difference between amount of the valuation done at the time of one-time settlement
and the valuation done while taking loan from the Banks or Financial Institutions along with the reasons thereof
are not applicable.

Green Initiative:

As part of green initiative, the electronic copies of this Annual Report including the Notice of the 42^nd AGM are
sent to all members whose email addresses are registered with the Company / Registrar / Depository
Participant(s). As per SEBI Circular SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated 12^th May, 2020 the requirement
of sending physical copies of annual report to those shareholders who have not registered their email addresses
was dispensed with for Listed Entities who conducted their AGMs during the calendar year 2020. The same has
been implemented for Listed Entities who conducted their AGMs during

the calendar year 2021 vide SEBI Circular dated 15^th January, 2021 and further during the calendar year 2023
vide SEBI Circular dated 13th May, 2023. In this respect the physical copies are not being sent to the
shareholders. The copy of the same would be available on the website: https://www.econo.in/. The initiatives
were taken for asking the shareholders to register or update their email addresses. The Company is providing e-
voting facility to all its members to enable them to cast their votes electronically on all resolutions set forth in
the Notice. This is pursuant to Section 108 of the Companies Act, 2013 and Rule 20 of the Companies
(Management and Administration) Rules, 2014. The instructions for e-voting are provided in the Notice.

Acknowledgement:

The directors deeply acknowledge the trust and confidence you have placed in the company and they would
also like to thank all its Bankers, Customers, Vendors, Shareholders and other Stakeholders for their continued
support to the Company. In specific, the Board would also record its sincere appreciation of the Commitment
and Contribution made by all employees of the Company.

Place: Bhavnagar BY ORDER OF THE BOARD

Date: 26.08.2025

Shekh Hasina Kasambhai
Managing Director
(DIN:07733184)