Your Directors have pleasure in presenting the 19^th Annual Report on the business and operations of the Company and
the accounts for the Financial Year ended on March 31, 2025.

SUMMARY OF FINANCIAL HIGHLIGHTS:

The standalone and consolidated performance of the Company for the financial year ended on March 31, 2025 is
summarized below:

FINANCIAL SUMMARY OF THE COMPANY: ( Rs in Lacs except EPS)

PERFORMANCE

INR in Cr.

PERFORMANCE AND OPERATION REVIEW
> STANDALONE FINANCIAL RESULTS:

Performance of your Company for the year under review has been mentioned herewith. Total income was Rs. 9795.66
lakhs (previous year Rs. 7937.03 lakhs). Tax expenses were Rs. 207.78 lakhs (previous year Rs. 62.89 lakhs).The net
profit after tax was Rs. 502.71 lakhs (previous year Rs 200.71 lakhs).

> CONSOLIDATED FINANCIAL STATEMENT:

Pursuant to the provisions of Section 129 and 134 and 136 of the Companies Act, 2013 read with rules framed there under
and pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015, your Company had prepared consolidated financial
statements of the Company and its subsidiaries. i.e. PEARL FURNITURE PRIVATE LIMITED (CIN:
U36100GJ2013PTC073483) and UMERIN GLOBAL PRIVATE LIMITED (CIN: U36109GJ2018PTC103592). The annual
financial statements and related detailed information of the subsidiary company will be provided on specific request made
by any shareholders and the said financial statements and information of subsidiary companies are open for inspection at
the registered office of the company during office hours on all working day except Saturday, Sunday and Public holidays.
The separate audited financial statement in respect of the subsidiary company is also available on the website of the
Company. As required under Regulation 33 of SEBI (LODR) Regulations, 2015 and in accordance with the requirements of
AS 21, the Company has prepared Consolidated Financial Statements of the Company and its subsidiaries and is included
in the Annual Report. Consolidate Performance and Operation review are as shown above. A report on the performance
and financial position of subsidiary of your Company including capital, reserves, total assets, total liabilities, details of
investment, turnover, etc., pursuant to Section 129 of the Companies Act, 2013 in the Form AOC-1 which forms part and
parcel of this Annual Report.

The Company is mainly engaged in the business of Manufacturing of Furniture and Company's products includes hospital
furniture, education furniture and household furniture like sofa-set, dining table with chairs, centre tables, motorised and
non-motorised recliner chair, hospital beds including ICU beds, school bench with chairs etc.Financial state of Company's
affairs is given above. Further the Company's Industry structure, development, outlook etc is given in brief in Management
Discussion and Analysis Report forming part of this report.

• Details and status of investment, expansion, modernization and diversification:

Parin Enterprises Limited has accquired 51% stake in Umerin Global Private Limited from october 2024 which is engaged
in the business of automobile dealership of KIA India Private Limited by which company has expanded and diversified its
business

• Company have added new objects by passing for diversification and expansion of business by passing special
resolution in Extra Ordinary General Meeting conducted on 29/03/2025.

• Change In Name Of Company From Parin Furniture Limited To Parin Enterprises Limited:

Company has changed its name from Parin Furniture Limited to Parin Enterprises Limited by passing special resolution in
its 18^th Annual General Meeting dated 09/09/2024 which had been approved by ROC, Ahmedabad on 10/14/2024 and also
approved by NSE on 25/10/2024.

• Segment-wise position of business and its operations:

In accordance with Accounting Standard-17 - “Segment Reporting” issued by the Institute of Chartered Accountants of
India, the Company has identified its two business segment as primary reportable segments.

1) Manufacturing of Furniture and allied items (Parent Company)

2) Dealing in Automobiles dealership of KIA India Private Limited. (Subsidiary Company)

RESERVES:

The Board of Directors of your Company, has decided not to transfer any amount to the reserves for the year under
review.

DIVIDEND:

The Board of Directors of your Company had declared interim dividend for year ended on March 31, 2025 at the rate of
2% of face value of share i.e Rs. 0.20 per share. In view of the changes made under the Income-tax Act, 1961, by the
Finance Act, 2020 and amendments thereof, dividends paid or distributed by the Company shall be taxable in the hands of
the Shareholders. The Company shall, accordingly, make the payment of the final dividend after deduction of tax at source.

PUBLIC DEPOSIT:

During the year under review, the company has not accepted or renewed any deposit from the public falling within the
ambit of section 73 of Companies Act 2013 and the Companies (Acceptance of Deposits) Rules, 2014. The company
has availed loan from directors which is exempted deposit and as on 31^st March, 2025 outstanding amount of loan from
Directors is of Rs 10,41,91,252

SHARE CAPITAL:

At present, the Company has Equity shares having face value of Rs. 10 each. The authorized share capital of the
company is Rs. 12,50,00,000/- comprising of 1,25,00,000 Equity shares of Rs. 10 each. The paid up share capital of the
company is Rs. 11,11,80,000/- comprising 1,11,18,000 equity shares of Rs. 10 each. During the year under review, there
was no change in the Capital Structure of the Company.

EQUITY INFUSION:

During the year under review, there is no infusion of Equity share capital.

LISTING:

The Equity Shares of the Company are listed on SME Emerge Platform of NSE Limited. The Company is regular in
payment of Annual Listing Fees and other compliance fees.

DEMATERIALISATION OF EQUITY SHARES:

All the Equity Shares of the Company are in dematerialized form with either of the depositories viz. NSDL and CDSL.
The ISIN No. allotted is INE00U801010.

INVESTMENT IN PRIVATE LIMITED COMPANY:

During the year under review, Company has made investment in Private Limited company named UMERIN GLOBAL
PRIVATE LIMITED (UGPL) by acquiring 51% stake. UGPL is in business of Automobiles and parts thereof with allied
services. By virtue of this transaction, on arm's length basis UGPL has become subsidiary of Parin Enterprises Limited
from 04/10/2024.

CREDIT RATING:

Company has only Equity Shares and no any debt structure and hence Credit rating is not applicable

INVESTOR EDUCATION AND PROTECTION FUND:

As on date, Company has no such amount which is required to transfer in Investor Education and protection fund.

Recently Company has declared interim dividend as stated above and as on date unpaid/unclaimed dividend is of Rs.
1,12,147 /- s

In Furtherance, Company has appointed Nodal Officer for and on behalf of the Company to Co-Ordinate with IEPF
Authority pursuant to Investor Education and Protection FunZd Authority (Accounting, Audit, Transfer and Refund) Second
amendment Rules, 2019 and amendment thereto if any, Details of Nodal Officer is as under:

Name: Ms. Binika Chudasama

Designation: Company Secretary & Compliance Officer
Contact details: cs@parinfurniture.com

CORPORATE SOCIAL RESPONSIBLITY:

Company has incurred net profit of more than Rs. 5.00 crores in the financial year ended on 31st March, 2025, henceforth
pursuant to provisions of section 135 of the Companies Act, 2013, Company is required to comply with Corporate Social
Responsibility in the year 2025-26 and Company is required to spend at least two percent of the average net profits of the
company made during the three immediately preceding financial years towards CSR Expenditure.

Accordingly, Company has framed CSR Committee and CSR policy as per the requirements of Section 135 of Companies
Act 2013 which is being applicable from FY 2025-26.

The policy is avaible on the website of the company i.e www.parinfurniture.com

During the year 2025-26, Company will spend at least two percent of the average net profits of the company made during
the three immediately preceding financial years towards CSR Expenditure and Company assures that the same will be
spend in the Activities as specified under Schedule VII and which actually benefits the Society at large.

DIRECTORS & KEY MANAGERIAL PERSON [KMP]:

During the Year under review, there is no change in the Directors and KMP. As on 31^st March, 2025, Board of
Directors of the Company is composed as following:

> Chief Financial Officer and Company Secretary- KEY MANAGERIAL PERSONNEL

There is no change in Chief Financial Officer during the year. Ms. Alpa Vasantbhai Jogi is the Chief Financial Officer
during the year.

Ms Binika Chudasama (ACS 39841) is Company Secretary (CS) and compliance officer during the year.

CHANGES IN BOARD AFTER THE CLOSURE OF FINANCIAL YEAR

There has been no change in the Board after the closure of Financial year.

RETIREMENT BY ROTATION :

In terms of Section 152 of the Companies Act, 2013, Mr. Deven D Nandani (DIN: 07576542) was liable to retire by rotation
and had been re-appointed in 18^th AGM dated 09/09/2024. Mr. Umesh D. Nandani (DIN: 00039757 Chairman and
Managing Director of the Company is liable to retire by rotation at the forthcoming Annual General Meeting and being
eligible, offered himself for re- appointment.

Brief profile of all the Directors seeking Appointment/Re-appointment is given in Annexure I of the Notice and also
presented in Board‘s Report.

The Board confirms that none of the Directors of the Company is disqualified from being appointed as Director in terms of
Section 164 of the Companies Act, 2013 and necessary declaration has been obtained from all the Directors in this
regard.

BOARD EVALUATION:

Pursuant to the section 134(3)(p) of Companies Act, 2013 read with Rule 8 (4) of Companies Account Rule, 2014 and
SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015, annual evaluation of the performance of the
Board, its Committees and of individual Directors has been made.

During the year, the Evaluation cycle was completed by the Company internally which included the evaluation of the Board
as a whole, Board Committees and Directors. The Evaluation process focused on various aspects of the Board and
Committees functioning such as composition of the Board and Committees, experience, performance of duties and
governance issues etc. Separate exercise was carried out to evaluate the performance of individual Directors on
parameters such as contribution, independent judgment and guidance and support provided to the Management, presence
at the Board meeting, general meetings and inputs in the discussion of the meeting and decision taking power, roles played
as per their designation in the Company.

DECLARATION BY INDEPENDENT DIRECTORS:

Every Independent Director, at the first meeting of the Board in which he participates as a Director and hereafter at
the first meeting of the Board in every Financial Year, gives a declaration that he/she meets the criteria of
independence as provided under section 149(6) of the Companies Act, 2013 and under Regulation 16(1)(b) of the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and

accordingly the Company has received necessary declaration from each Independent Director under section149(6) of
the Companies Act, 2013 and as per Regulation 16(1)(b) of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 that he/she meets with the criteria of Independence laid
down in Section 149(6) of the Companies Act, 2013 and SEBI (LODR)Regulations and Code for Independent directors of
the Companies Act, 2013.

Following are the Independent directors of the Company as on 31^st March, 2025:

Mr. Dayalal Harjivanbhai Kesharia - DIN 08114818
Ms. Shweta Chirag Kathrani - DIN: 08114974
Mr. Pranav Vinokkumar Manek - DIN: 09494631

The independent directors except Mr. Pranav Vinokkumar Manek have successfully completed online proficiency self
assessment test conducted by IICA and Mr. Pranav Vinokkumar Manek shall complete online proficiency self assessment
test before the prescribed time period.

During the year, the Independent Directors meeting was held on 13.08.2024.

COMMITTEES OF BOARD:

1. AUDIT COMMITTEE:

The Board of Directors of the Company has constituted an Audit Committee on 20.04.2018. The Constitution,
composition and functioning of the Audit Committee also meets with the requirements of Section 177 of the
Companies Act, 2013 and Regulation 18 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
All the recommendations of Audit Committee have been accepted by the Board of Directors of the Company.

The Composition of the Committee is as under:

Meeting:

During the financial year ended March 31, 2025, the Members of the Audit Committee met 6 (Six) Times on (1)

01.04.2024, (2) 23.05.2024, (3) 13.08.2024, (4) 04.10.2024, (5) 14.11.2024 (6) 06.03.2025 and all the members have

attended the meeting. Company Secretary Ms Binika Chudasama acted as secretary of the Audit Committee and CFO

has also attended all the meetings.

Terms & Reference of audit committee:

The Role of Audit Committee together with its powers as Part C of Schedule II of SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015 and Companies Act, 2013 shall be as under:

1. Oversight of the listed entity‘s financial reporting process and the disclosure of its financial information to ensure
that the financial statement is correct, sufficient and credible;

2. Recommendation for appointment, remuneration and terms of appointment of auditors of the listed entity;

3. Approval of payment to statutory auditors for any other services rendered by the statutory auditors.

4. Reviewing, with the management, the annual financial statements and auditor's report thereon before
submission to the board for approval;

5. Reviewing, with the management, the half yearly financial statements before submission to the board for
approval, with particular reference to;

y matters required to be included in the directors responsibility statement to be included in the board‘s report
in terms of clause(c) of sub-section(3) of Section 134 of the Companies Act, 2013;
y changes, if any, in accounting policies and practices and reasons for the same;
y major accounting entries involving estimates based on the exercise of judgment by management;

> significant adjustments made in the financial statements arising out of audit findings;
y compliance with listing and other legal requirements relating to financial statements;
y disclosure of any related party transactions;
y modified opinion(s) in the draft audit report

6. Reviewing, with the management, the statement of uses/ application of funds raised through an issue (public issue,
rights issue, preferential issue, etc.), the statement of funds utilized for purposes other than those stated in the offer
document / prospectus / notice and the report submitted by the monitoring agency monitoring the utilization of
proceeds of a public or rights issue, and making appropriate recommendations to the board to take up steps in this
matter;

7. Reviewing and monitoring the auditor‘s independence and performance and effectiveness of audit process;

8. Approval or any subsequent modification of transactions of the listed entity with related parties;

9. Scrutiny of inter-corporate loans and investments;

10. Valuation of undertakings or assets of the listed entity, wherever it is necessary;

11. Evaluation of internal financial controls and risk management systems;

12. Reviewing, with the management, performance of statutory and internal auditors, adequacy of the internal control
systems;

13. Reviewing the adequacy of internal audit function, if any, including the structure of the interna laudit
department, staffing and seniority of the official heading the department, reporting structure coverage and
frequency of internal audit;

14. Discussion with internal auditors of any significant findings and follow up thereon;

15. The Audit Committee may call for the comments of the auditors about internal control systems, the scope of audit,
including the observations of the auditors and review of financial statement before their submission to the Board
and may also discuss any related issues with the internal and statutory auditors and the management of the
company.

16. Discussing with the statutory auditors before the audit commences, about the nature and scope of audit as well as
post- audit discussion to ascertain any area of concern;

17. Reviewing the findings of any internal investigations by the internal auditors into matters where there is suspected
fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the
board;

18. Discussion with statutory auditors before the audit commences, about the nature and scope of audit as well as post¬
audit discussion to ascertain any area of concern;

19. The Audit Committee shall have authority to investigate into any matter in relation to the items specified in section
177(4) of Companies Act 2013 or referred to it by the Board.

20. To look into the reasons for substantial defaults in the payment to the depositors, debenture holders, shareholders (in
case of non-payment of declared dividends)and creditors;

21. To review the functioning of the whistle blower/Vigil mechanism;

22. Approving the appointment of the Chief Financial Officer (i.e. the whole time finance director or any other person
heading the finance function) after assessing the qualifications,experience and background, etc.,of the candidate; and;

23. Audit committee shall oversee the vigil mechanism.

24. Audit Committee will facilitate KMP/auditor(s) of the Company to be heard in its meetings.

25. Carrying out any other function as is mentioned in the terms of reference of the audit committee or containing into
SEBI Listing Regulations 2015.

Further, the Audit Committee shall mandatorily review the following:

a) Management discussion and analysis of financial condition and results of operations;

b) Statement of significant related party transactions (as defined by the audit committee),submitted by
management;

c) Management letters/letters of internal control weaknesses issued by the statutory auditors;

d) Internal audit reports relating to internal control weaknesses; and

e) The appointment, removal and terms of remuneration of the chief internal auditor shall be subject to review bythe
audit committee.

f) Statement of deviation

All the recommendations of the Audit Committee has been approved by the Board of Directors of the Company.

2. NOMINATION AND REMUNERATION COMMITTEE

The Board of Directors of the Company has constituted Nomination and Remuneration Committee (NRC) on
20.04.2018. The Constitution, composition and functioning of the Nomination and Remuneration Committee also meets
with the requirements of Section 178(1) of the Companies Act, 2013 and Regulation 19 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015.

Tho thA r^AmmittAA io AC I iaWak'

Meeting

During the financial year ended on March 31,2025, the Members of the Nomination and Remuneration Committee
met 1 (One) Time on (1) 05.06.2024 and all the members have attended the meeting. Company Secretary Ms
Binika Chudasama acted as secretary of the Committee and CFO has also attended all the meetings.

Term of Remuneration of Managing Director which was valid till 31/03/2025 had to revise. For that revision in terms of
remuneration of Mr. Umesh D. Nandani, Chairman and Managing Director (DIN: 00039757) of the Company is made by the
Board of Directors of the Company on the recommendation of Nomination and Remuneration Committee and approved
Managerial remuneration at same terms i.e. managerial remuneration be paid way of professional fees/Management
Consultancy Fees of Rs. 7.00 Lakhs per month or Rs 84.00 lakhs per annum (i.e. may be paid monthly or/and annually)
with effect from 1st April, 2025 upto three years from the effective date or for remaining term as Managing Director
whichever is earlier and who is liable to retire by rotation which is subject to approval/ratification at this 19^th Annual General
Meeting, Subject to approval of the Members of the Company and hence item no 5 of notice convening 19^th Annual
General Meeting placed at this 19^th Annual General Meeting for the approval/ratification of revision of remuneration of Mr.
Umesh D. Nandani (DIN: 00039757).

Terms & Reference of Nomination and Remuneration committee:

1. Identify persons who are qualified to become directors and may be appointed in senior management in
accordance with the Criteria laid down, recommend to the Board their appointment and removal and shall carry out
evaluation of every directors performance.

2 To evaluate the balance of skills, knowledge and experience on the Board and on the basis of such evaluation,
prepare a description of the role and capabilities required of an independent director. The person recommended to the

Board for appointment as an independent director shall have the capabilities identified in such description. For the
purpose of identifying suitable candidates, the Committee may:

a. use the services of an external agencies, if required;

b. consider candidates from a wide range of backgrounds, having due regard to diversity; and

c. consider the time commitments of the candidates.

3. Formulate the criteria for determining the qualifications, positive attributes and independence of a director and
recommend to the board a policy relating to the remuneration for directors, KMPs and other employees.

4. Formulation of criteria for evaluation of performance of independent directors and the board of directors;

5 Devising a policy on diversity of board of directors;

6 Whether to extend or continue the term of appointment of the independent director, on the basis of the report of
performance evaluation of independent directors;

7 recommend to the board, all remuneration, in whatever form, payable to senior management.

& Determine our Company‘s policy on specific remuneration package for the Managing Director / Executive
Directori ncluding pension rights.

9. Decide/recommend to board the salary, allowances, perquisites, bonuses, notice period, severance fees and
increment of Executive Directors.

10. Define and implement the Performance Linked Incentive Scheme (including ESOP of the Company) and evaluate
the performance and determine the amount of incentive of the Executive Directors for that purpose.

11. Decide the amount of Commission payable to the Whole time Directors.

12. Review and suggest revision of the total remuneration package of the Executive Directors keeping in view the
performance of the Company, standards prevailing in the industry, statutory guidelines etc.

13. To formulate and administer the Employee Stock Option Scheme.

3. STAKEHOLDERS’ RELATIONSHIP COMMITTEE:

The Board of Directors of the Company has constituted Stakeholders‘ Relationship Committee on 20.04.2018. The
Constitution, composition and functioning of the Stakeholders‘ Relationship Committee also meets with the
requirements of Section 178 of the Companies Act, 2013 and Regulation 20 of the SEBI(Listing Obligations and
Disclosure Requirements) Regulations, 2015.

The Composition of the Committee is as under:

Meeting

During the financial year ended on March 31, 2025, the Members of the Stakeholders' Relationship Committee met 1

(One) Time on (1) 28.10.2024 and all the members have attended the meeting. Company Secretary Ms Binika

Chudasama acted as secretary of the Committee and CFO has also attended all the meetings.

Terms & Reference of Stakeholders’ Relationship Committee:

Redressal of shareholders‘ and investors‘ complaints, including and in respect of:

1. Allotment, transfer of shares including transmission, splitting of shares, changing joint holding into single
holding and vice versa, issue of duplicate shares in lieu of those torn, destroyed, lost or defaced or where the
cages in the reverse for recording transfers have been fully utilized.

2. Issue of duplicate certificates and new certificates on split / consolidation / renewal, etc.; and

3. Review the process and mechanism of redressal of Shareholders /Investors grievance and suggest measures of
improving the system of Redressal of Shareholders/Investors grievances.

4. Non-receipt of share certificate(s), non-receipt of declared dividends, non-receipt of interest/dividend warrants, non¬
receipt of annual report and any other grievance/complaints with Company or any officer of the Company
arising out in discharge of his duties.

5. Review of measures taken for effective exercise of voting rights by shareholders.

6. Oversee the performance of the Registrar & Share Transfer Agent and also review and take note of complaints

directly received and resolved them.

7. Over see the implementation and compliance of the Code of Conduct adopted by the Company for prevention of
Insider Trading for Listed Companies as specified in the Securities & Exchange Board of India (Probation of insider
Trading) Regulations,1992 as amended from time to time.

8. Any other power specifically assigned by the Board of Directors of the Company from time to time by way of
resolution passed by it in a duly conducted Meeting,

9. Carrying out any other function contained in the equity listing agreements as and when amended from time to
time.

SUBSIDIARY, JOINT VENTURES AND ASSOCIATE COMPANIES :

> Your company has acquired 19 lacs Equity Share of Rs. 10 each of M/s. Pearl Furniture Private Limited (CIN:
U36100GJ2013PTC073483) out of 19.30 Lacs Equity shares i.e. holding 98.45% and thereby M/s. Pearl
Furniture Private Limited is a Subsidiary Company u/s 2(87)of the Companies Act, 2013 w.e.f. 01^st June,
2017.

Our subsidiary company i.e. Pearl Furniture Private Limited is engaged in manufacturing of furniture items like
Bed Room furniture, Chairs, Hospital Furniture, School Furniture etc. Attached Annual Report on Statement
Containing Salient features of the financial statement of Subsidiaries as AOC — I with the Annual Report.

As per audited financial statement, Total turnover for current year Rs.3178.67 lacs and for previous year Rs.
2510.44/- lacs. Total Net profit for current year Rs.64.43 for previous year Rs.26.59.

> Your company has acquired 5,10,000 Equity Share of Rs. 10 each of Umerin Global Private Limited (CIN:
U36109GJ2018PTC103592) out of 10,00,000 Equity shares i.e. holding 51% and thereby Umerin Global Private
Limited is a Subsidiary Company u/s 2(87)of the Companies Act, 2013 w.e.f. 04^th October, 2024.

Our subsidiary company i.e. Umerin Global Private Limited is engaged in Business of Automobile and parts
thereof with related services thereof. Attached Annual Report on Statement Containing Salient features of
the financial statement of Subsidiaries as AOC — I with the Annual Report.

As per audited financial statement, Total turnover for current year Rs.12140.32 lacs and for previous year Rs.
428.05/- lacs. Total Net profit for current year Rs.67.16 for previous year Rs.(57.23).

4. CORPORATE SOCIAL RESPONSIBILITY COMMITTEE

As stated Aforesaid, Company has earned net profit of more than Rs. 5.00 crores in the financial year ended on 31st
March, 2025 and thereby falls within the ambit of section 135 of the Companies Act, 2013, Accordingly Company has
constituted CSR Committee on 29/07/2025 as under :

NUMBER OF BOARD MEETINGS:

During the financial year ended on March 31, 2025, the Board of Directors met 10 (Ten) Times, the details of which is
given below. The maximum interval between any two meetings did not exceed 120 days. The prescribed quorum was
presented for all the Meetings and Directors of the Company actively participated in the meetings and contributed
valuable inputs on the matters brought before the Board of Directors from time to time.

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the Annual Return as on March 31, 2025 is available
on the Company's website on www.parinfumiture.com

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:

The Company has not granted any loan and has not given any corporate guarantee during the year under review and
details of existing investment including new investment during the year is given in the note 11 of notes to the Financial
Statements and also disclosed herewith:

As stated aforesaid, by virtue of this Investment, the Company Pearl Furniture Private Limited has became subsidiary
Company.

CHANGE IN NAME OF COMPANY FROM PARIN FURNITURE LIMITED TO PARIN ENTERPRISES LIMITED:

Company has changed its name from Parin Furniture Limited to Parin Enterprises Limited by passing special resolution in
its 18^th Annual General Meeting dated 09/09/2024 which had been approved by ROC, Ahmedabad on 10/14/2024 and also
approved by NSE on 25/10/2024.

CHANG OF REGISTERED OFFICE:

Company has changed its Registered office outside the local limits of city/town/village i.e. from Plot No. 6, Revenue
Survey No.149, National Highway At. Vavdi, Gondal Road Rajkot Gj 360004 to Plot No. 1,2 & 3, RS No. 33, 8-B National
Highway Village- Bilayala, Taluka-Gondal, Gondal 360311 District- Rajkot Gujarat India by passing of special resolution in
its 18^th Annual General Meeting dated 09/09/2024.

CHANGES IN THE NATURE OF BUSINESS & MAJOR EVENTS:

There is NO change in nature of business during the financial Year 2024-25 and no major events has been occurred during
the year except investment in Umerin Global Private Limited by purchasing 51% stake in the company. During the year,
Company has changed its name from Parin Furniture Limited to Parin Enterprises Limited and has shifted its registered

office to Plot No. 1, 2 & 3, RS No. 33, 8-B National Highway Village- Bilayala, Taluka-Gondal, Gondal 360311 District-
Rajkot Gujarat.

WEBSITE:

www.parinfurniture.com is the website of the company. All the requisite details, policy are placed on this website of
theCompany.

MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY
OCCURRED BETWEEN THE END OF FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENT RELATES
AND THE DATE OF THE REPORT:

There are no such Material Changes occurred subsequent to the close of the financial year of the Company to which the
balance sheet relates and the date of the report which can affect the financial position of the Company.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY’S OPERATIONS IN FUTURE:

No such Order have been passed by the Regulators/Court or Tribunals which can impact the going concern status and
Company‘s operation in future.

POLICY ON DIRECTOR’S APPOINTMENT AND REMUNERATION:

The salient features of the Policy on Directors‘ appointment and remuneration of Directors, KMP & senior employees and
other related matters are as provided under Section 178(3) of the Companies Act, 2013, SEBI (LODR) Regulations,
2015 and any other re-enactment(s) for the time being in force. Nomination and Remuneration policy is available at
the website of the Company. http://www.parinfurniture.com. Managing Director Mr. Umeshbhai D. Nandani (DIN:
00039757) and Whole- Time Director, Mr. Parin U. Nandani (DIN:02343309) are not receiving any remuneration from its
Subsidiary Companies i.e. PEARL FURNITURE PRIVATE LIMITED and UMERIN GLOBAL PRIVATE LIMITED.

Further, on the recommendation of Nomination and remuneration committee, Board of Directors of the Company at their
meeting held on 19th April, 2025 approved remuneration to Rs. 7.00 Lakhs per month or Rs. 84.00 Lakhs per annum (i.e.
may be paid monthly or/and annually) w.e.f 1st April, 2025, upto three years from the effective date or for remaining term of
his tenure as Managing Director w/e is earlier and rest all other terms and conditions and perquisites will remain same as it
were decided at the time of appointment of Mr. Umesh Nandani (DIN: 00039757) as Chairman and Managing Director.

INVESTOR GRIEVANCE REDRESSAL POLICY :

The Company has adopted an internal policy for Investor Grievance handling, reporting and solving.

Name of Person handling Investor grievance: CS Binika Chudasama
Email id: cs@parinfurniture.com
Contact details: 9804010506/07/08

PARTICULARS OF EMPLOYEES AND REMUNERATION:

The information required under Section 197 & Rule 5 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 is given below.

a) Ratio of Remuneration of each Director to the Employees' median remuneration:

b) the percentage increase in remuneration of Chief Financial Officer, Chief Executive Officer, Company Secretary or
Manager,if any, in the financial year are as under:

y Company Secretary & Compliance Officer and Chief Financial Officer of the Company Appointed and Resigned
as below:

> There is no chnge in CFO & CS during the year:

Ms. Alpa Jogi is appointed as CFO - No change in remuneration during the year
Ms. Binika Chudasama is appointed as Company Secretary and Compliance officer - r i s e i n
remuneration by 27%

There is no change in remuneration of each directors. Remuneration of directors is as below

(c) Number of permanent Employees on the rolls of the Company as on 31st March, 2025 - 269

(d) Sub-clause (xii) of Rule 5(1) : It is hereby affirmed that the remuneration paid is as per the Remuneration policy of the
Company.

(e) The percentage increase in the median remuneration of employees for the financial year 2023-24 is- 15%

(f) There is increase in managerial remuneration for the F.Y 2023-24 by 0% and the average increase in the salary of
employees other than managerial personnel for the FY 2023-24 is 15%

(g) Information relating to 10 Employees as per Rule 5(2) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 and amendments thereof:

INSURANCE:

All the assets of the company are adequately insured and the Company has developed proper system for taking
insurance on all its insurable assets in order to mitigate the risk.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

All transactions entered into with the related parties as defined under the Companies Act, 2013 during the financial year
were in the ordinary course of business and on arm‘s length pricing basis. Form AOC-2 is attached to Board‘s Report as
Annexure - II.

FUTURE OUTLOOK:

Our Company is a provider of wide and exclusive range of furniture and lifestyle products for several consumers. Our
Company is managed by experienced and dedicated promoters to address the changing needs of customers in furniture
industry. We are consistent in supplying of quality products round the year as customized products are made available to
them as per the market demand.

Our Company has been associated with some of the prestigious projects for furniture such as Airport Authority Of India -
Indore, Airport Authority Of India - Srinagar, Airport Authority Of India - Vijayawada, Airport Authority Of India - Ayodhya,
Agriculture And Co-Operation Department Gujarat, West Bengal Medical Services Corporation (Wbmsc) Kolkata, Sarva
Shiksha Abhiyan (Ssa) - Gujarat, Airport Authority Of India - Tirupati, Airport Authority Of India - Northern Region Airports,
Airport Authority Of India - Pune, Swarnim Gujarat Sports Foundation, Shree Patel Seva Samaj - Aatkot, Porbandar Nagrik
Sahakari Bank, Divine Life Hospital - Kutch, Transglobe, Rajasthan Council of School Education, Maa Education,
Trendsutra, Pranav Overseas LLP, Rashtriya Madhyamik Shiksha Abhiyan, Sarva Shiksha Abhiyan, IIT Guwahati, Sarva
Siksha Abhiyan-Gujarat , IIT Gandhinagar & various Medical Colleges falling under the AIIMS umbrella. Moreover, we have
supplied Waiting Area Seating Systems at airports of the country which gave us the confidence to bid & win a global tender
for Airport Seating Systems such as Aai, Port-Blair - 3 Seater Chair, AAI Chennai, AAI Juhu-ONGC, Gwalior, AAI
Dehradun, AAI for Jammu Airport, Trichy International Airport, Airports Authority Of India, Varanasni, Public
Implementation Unitand in technical collaboration with C.C.M Srl Group, Italy. In the health care sector, our Company has
successfully executed high value orders for Medical & Non Medical Furniture for various Project Implementation Units
(PIU‘s), HLL Infratech Services P Ltd (Under the Government of India Health & Family Welfare Dept), multiple AIIMS, U N
Mehta Institute of Cardiology & Research, Andhra Pradesh Medical Services & Infrastructure Development
Corporation(APMSIDC), Engineering Projects (Inida) Limited (EPIL), AAI_Guwahati, West Bengal Medical Services
Corporation (wbmsc) Kolkata, so on. As stated earlier, we are now poised in a very strong position with our affiliation with
Airports Authority of India.

All these and many more factors have fueled the organizations efforts to becoming a major player in India in the health
care & education furniture products industry.

Management and Board are optimist towards the growth of the business and have trust that company will grow and
develop more in coming years.

SECRETARIAL AUDITOR:

M/s.K.P.Rachchh & Co., Practicing Company Secretaries (Membership No.FCS:5156; CP No:3974,Peer review certificate
no. 6681/2025), Rajkot has been appointed by board as a secretarial auditor of Company for Financial Year 2024-25.

The Secretarial Audit report for Financial Year is attached here with as Annexure V.

The observations and comments, if any, appearing in the Secretarial Audit Report are self -explanatory and do not call for
any further explanation / clarification. The Secretarial Auditors Report does not contain any qualification, reservation or
adverse remark.

Board at its meeting held on 23/08/2025 has re-appointed M/s.K.P.Rachchh & Co., Practicing Company Secretaries
(Membership No.FCS:5156; CP No:3974,Peer review certificate no. 6681/2025), Rajkot as Secretarial auditor to issue
Secretarial audit report for the year ended on 31^st March, 2026

SECRETARIAL STANDARDS AND STATEMENT FOR COMPLIANCE OF APPLICABLE
SECRETARIAL STANDARDS:

Secretarial Standards issued by the Institute of Company Secretaries of India as applicable to the Company were
followed and complied with during 2024-25. The Company has devised proper systems to ensure compliance with
the provisions of all applicable Secretarial Standards issued by the Institute of Company Secretaries of India and that such
systems are adequate and operating effectively.

We hereby states the Company has complied all applicable Secretarial Standards to the extend its applicable.
INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has in all material respects, an adequate Internal Financial Control System over Financial Reporting and
such Internal Financial controls over financial reporting were operating effectively.

The company has proper and adequate system of Internal control to ensure that all assets are safeguarded and
protected against loss from unauthorized use or disposition and that transaction are authorized, recorded and reported
correctly. The company has effective system in place for achieving efficiency in operations, optimum and effective
utilization of resources, monitoring thereof and compliance with applicable laws. Company has also appointed Mr. Ajay
Kalaria as Internal Auditor who will look at Internal Control and report to the Audit Committee and Board.

STATUTORY AUDITORS :

Members at the 14th Annual General Meeting held on 28/09/2020 have re-appointed M/s. BHAVIN ASSOCIATES,
Chartered Accountants as the Statutory Auditors of the Company for a period of five years from (FY 2020 -21 to FY
2024-25) for a second term and to hold office of Statutory Auditor of the company till the conclusion of the 19th AGM.
Hence, pursuant to provisions of section 139 of the Companies Act, 2013 M/s. BHAVIN ASSOCIATES, Chartered
Accountants would retire as Statutory Auditor of the Company at the conclusion of this ensuing 19th Annual General
Meeting.

Accordingly, Board has recommend before the members at ensuing 19th Annual General Meeting for appointment of M/s
K P Bhansali, Chartered Accountant having firm registration number 101185W, Rajkot as Statutory Auditor of the Company
in place of M/s Bhavin Associates (FRN:101383W),the retiring Statutory Auditor, to carry out Statutory Audit for a period
of Five (5) years from FY 2025-26 to FY 2029-30 i.e to hold office from conclusion of this 19th Annual General Meeting till
the conclusion of 24th Annual General Meeting of the Company to be held pertaining to the financial year 2029-30, on such
terms and remuneration as may be mutually agreed upon between the said Auditors and Board of Directors of the
Company based on the recommendation of the Audit Committee

M/s. K P Bhansali (F.R.N 101185W) has consented to the said appointment and confirmed that their appointment, if made,
would be within the limits specified under Section 141(3)(g) of the Act. They have further confirmed that they are not
disqualified to be appointed as Statutory Auditors in terms of the provisions of the proviso to Section 139(1), Section 141(2)
and Section 141(3) of the Act and the provisions of the Companies (Audit and Auditors) Rules, 2014.

STATUTORY AUDITORS REPORT AND NO FRAUD REPORTED :

The Notes on Financial Statements referred to in the Auditors‘ Report are self -explanatory and do not call for any further
comments. The Auditor‘ Report does not contain any qualification or reservation. No fraud has been reported by the
Auditors under section 143(12) of the Companies Act, 2013 requiring disclosure in the Board‘s Report.

CORPORATE SOCIAL RESPONSIBILITY (CSR):

The Company has formulated CSR policy as per the criteria as mentioned in Section 135 of the Companies Act, 2013
which specifies the requirement of forming the Corporate Social Responsibility Committee and for spending as CSR
Expense.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:

In accordance with the provisions of section 134(3)(m) of the Companies Act, 2013 read with Rule, 8 of The Companies
(Accounts) Rules, 2014, the relevant information pertaining to conservation of energy, technology absorption, foreign
exchange earning and outgo are as follows:

Conservation of Energy

The steps taken or impact on conservation of energy; Conservation of energy is always been an area of priority in the
Company‘s operations. The Company has consumed power of Rs. 57.51 lakhs (P.Y. Rs. 42.40/- lakhs ) for the year
under review.

Company has installed solar panels since January 2025.

Technology Absorption:

Conservation of energy is always been an area of priority in the Company‘s operations. The efforts made towards
technology absorption;

The Company has adopted indigenous technology. The Company has derived benefits like product improvement, cost
reduction and product development

The Company has not imported any technology during the last three years reckoned from the beginning of the
financial year

The expenditure incurred on Research and Development-NIL

The company has not initiated any research and development activities and thus no Expenditure has been incurred on
Research and Development.

Foreign Exchange Earnings and Outgo: Foreign Earnings : Rs. Nil
Foreign Out Go: Rs. Nil

DIRECTORS’ RESPONSIBILITY STATEMENT [DRS]:

In accordance with the provisions of sub-section (5) of Section 134 of the Companies Act, 2013, Your Directors state
that—

(a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper
explanation relating to material departures, if any;

(b) the directors had selected such accounting policies and applied them consistently and made judgments and
estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at
the end of the financial year 31.03.2025;

(c) 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) the directors had prepared the annual accounts 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)

(g) 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.

DISCLOSURE UNDER SEXUAL HARAASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION &
REDRESSAL) ACT, 2013. :

The Company has always believed in providing a safe and harassment free workplace for every individual working in
premises and always endeavors to create and provide an environment that is free from discrimination and harassment
including sexual harassment. During the year ended on 31^st March, 2025, the Company has not received any complaint
pertaining to sexual harassment. Company has also framed and adopted policy and It is hereby stated that the
company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 [14 of 2013]. The Said Policy is
also available at the Website of the Company.

(i) Number of Sexual Harassment Complaints received -- NIL

(ii) Number of Sexual Harassment Complaints disposed off -- NIL

(iii) (Number of Sexual Harassment Complaints beyond 90 days -- NIL

Further, it is hereby stated that the company has complied with Maternity Benefit Act.

Details of total number of employees is as under:

Female Employees: 26 Male Employees: 243 Transgender: 0

RISK MANAGEMENT:

In today‘s economic environment, Risk Management is a very important part of business. The main aim of risk
management is to identify, monitor and take precautionary measures in respect of the events that may pose risks for the
business. Your Company‘s risk management is embedded in the business processes. Your company has identified the
certain risk like price risk, uncertain global economic environment, interest rate, human resource, competition,
compliance and industrial health and safety risk and also planned to manage such risk by adopting best management
practice.

ENVIRONMENT, HEALTH AND SAFETY:

The Company accords the highest priority to Environment, Health and Safety. The management is constantly reviewing the
safety standards of the employees and the management believes in the concept of sustainable development.

VIGIL MECHANISM FOR DIRECTORS AND EMPLOYEES - WHISTLE BLOWER MECHANISM:

Your Company is committed to highest standards of ethical, moral and legal business conduct. Accordingly, the Board of
Directors has formulated a Whistle Blower Policy which is in compliance with the provisions of Section 177(10) of the
Companies Act, 2013. Through this policy, Employees can raise concerns without any regarding any discrimination,
harassment, victimization, any other unfair practice being adopted against them or any instances of fraud by or
against your Company to the Chairman of the Audit Committee. Any incidents that are reported are investigated and
suitable action taken in line with the Whistle Blower Policy. The said policy is available at the website of the Company.

POLICY ON PRESERVATION OF THE DOCUMENTS:

The Company has formulated a Policy pursuant to Regulation 9 of the Securities Exchange Board of India (Listing
obligations and Disclosure Requirements) Regulations, 2015 (“Regulations”) on Preservation of the Documents to ensure
safe keeping of the records and safeguard the Documents from getting man handled, while at the same time avoiding
superfluous inventory of Documents.

POLICY ON CRITERIA FOR DETERMINING MATERIALITY OF EVENTS:

The Policy is framed in accordance with the requirements of the Regulation 30 of Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015 (Regulations). The objective of the Policy is to
determine materiality of events or information of the Company and to ensure that such information is adequately
disseminated in pursuance with the Regulations and to provide an overall governance framework for such determination of
materiality.

Following Key Managerial Personnel are authorized for the purpose of determining materiality of events:

Name of Managing Director: Umesh Dhirajlal Nandani
Email id- umesh@parinfurniture.com

Name of KMP - Alpa Jogi (CFO)

Email id - alpa@parinfurniture.net

Name of KMP - Binika Chudasama (CS)

Email id- cs@parinfurniture.com

CORPORATE GOVERNANCE:

Since the Company is listed on SME Emerge Platform of NSE, by virtue of Regulation 15 of SEBI (Listing Obligation And
Disclosure Requirements) Regulation, 2015 (" LODR") the compliance with the corporate governance provisions as
specified in regulations 17 to 27 and clauses (b) to (i) of sub regulation (2) of Regulation 46 and Para C, D and E of
Schedule V are not applicable to the Company. Hence, Corporate Governance Report does not form part of this Annual
Report.

EMPLOYEE RELATIONS:

The relationship with the staff and workers continued to be cordial during the entire year. The Directors wish to place on
record their appreciation of the valuable work done and co-operation extended by them at all levels. Further, the

Company is taking necessary steps to recruit the required personnel from time to time. Company considers Employees
as asset of the Company and Company have taken utmost care and precautions as per the guidelines of Government
for safety of employees. There were no incident of strike, lock out.

DISCLOSURE UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016:

During the year, there were no application made and no any proceeding under the Insolvency and Bankruptcy Code, 2016.

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:

Not applicable as no such instance
COST AUDIT:

Central Government has notified rules for Cost Audit and as per new Companies (Cost Records and Audit) Rules, 2014
issued by Ministry of Corporate Affairs; Company is not falling under the Industries, which will subject to Cost Audit.
Therefore filing of cost audit report for the FY 2024-25 is not applicable to the Company.

MANAGEMENT DISCUSSION AND ANALYS IS REPORT:

The Management Discussion and Analysis report has been furnished herewith to Board‘s Report as Annexure — IV
ACKNOWLEDGEMENT:

Your Directors take this opportunity to express their gratitude for the co-operation and support from its customers,
vendors, bankers and business associates and look forward to their continued support.

The Directors are also grateful to the shareholders for the confidence reposed in the Company. Your Directors also
wish to place on record their sincere appreciation of the valuable contribution and efforts made by all the employees to
achieve in these trying times.

For and on Behalf of
Parin Enterprises Limited

(Previously knonw as Parin Furniture Limited)

Sd/-

Date: 23^rd August, 2025 Umesh Dhirajlal Nandani

Place: Rajkot Chairman & Managing Director

(DIN:00039757)