Your Directors have pleasure in presenting the Fortieth
Annual Report on the business and operations of the
Company and Audited Financial Statements for the year
ended 31^st March, 2025.

Financial Results : ^{(Rs in Lakhs)}

Year ended Year ended

Particulars 31.03.2025 31.03.2024

SHARE CAPITAL

The Authorized Share Capital of the Company as on
31^st March, 2025 is Rs.5,00,00,000 consisting of 1,00,00,000
equity shares of Rs. 5 each.

The Paid-up Share Capital of the Company is Rs.5 Crores
(Previous Year: Rs.5 Crores) consisting of 1,00,00,000 equity
shares of Rs.5 each.

There was no public issue, rights issue, bonus issue or
preferential issue, etc., during the year. Further, the Company
has not issued shares with differential voting rights or sweat
equity shares, nor has it granted any stock options during the
year under review.

DIVIDEND

Your Directors have not recommended any Dividend for the
financial year 2024-25.

TRANSFER TO RESERVE

Your Directors have approved the transfer of
Rs.1.50 crores to the General Reserves for the year ended
March 31,2025.

MANAGEMENT DISCUSSION AND ANALYSIS, REVIEW
OF THE OPERATION, CURRENT TRENDS AND FUTURE
PROSPECTS:

COMPANY PERFORMANCE

During the year, the performance of your Company was
excellent. The turnover has increased from Rs.202.21 Crores
to Rs. 225.14 Crores due to revival of the US economy from
inflation and the improvement in the order position. The table
below shows comparative quantitative figures of production
and sales of the Company's products.

PRODUCTION AND SALES

Quantity of Production and Sale of the Company's Products

i.e., FIBC Bags and OE Spinning Yarn for the year ended
31.03.2025 and 31.03.2024 are as follows:

Multifilament Yarn**

Out of 8,90,215 Kgs. of Multifilament Yarn produced, we
have captively consumed 7,49,019 Kgs. for FIBC bags
production.

FIBC BAGS DIVISION

The FIBC Division has registered a Turnover of
Rs.225.14 Crores as against Rs.202.21 Crores of the previous
year due to improved price realization and receding inflationary
pressure in the US economy. The FIBC Market is highly
competitive with a large number of global and regional players
competing on factors such as product quality, innovation, price,
distribution network and customer service.

The global Flexible Intermediate Bulk Container (FIBC)
industry experienced notable growth during the fiscal year
2024-2025, positioning itself as a critical segment within the
industrial packaging landscape. According to recent analysis
by Straits Research, the global FIBC market reached a
valuation of USD 8.36 billion in 2024 and is expected to grow
to USD 12.86 billion by 2033, at a steady compound annual

growth rate (CAGR) of 4.9% during the forecast period
(2025-2033). This expansion reflects the increasing global
reliance on cost-effective and efficient bulk packaging
solutions.

One of the primary drivers of this growth is the surge in
international trade. Emerging economies, particularly in Asia
have shown robust economic activity leading to greater
import-export volumes. As global logistics systems demand
higher packaging standards for safety, durability and
compliance, FIBCs have become the preferred choice for
transporting bulk commodities across borders. Their versatility,
reusability and customizability further enhance their appeal
across industries.

Additionally, the healthcare sector has emerged as a
significant consumer of FIBC products. Accelerated healthcare
investments, combined with rising chronic disease cases in
regions like Asia-Pacific and the Middle East have led to
increased demand for hygienic and reliable packaging
solutions. Pharmaceutical raw materials and medical-grade
chemicals now often require FIBCs for safe transport and
storage, contributing to market expansion.

India remains at the forefront of global FIBC supply. The
Indian FIBC industry saw substantial export growth in
2024-2025, driven by its competitive manufacturing costs,
consistent product quality and enhanced production
capabilities. India currently accounts for approximately 75%
of FIBC imports into Europe and 72% into the U.S., solidifying
its role as a global market leader—especially as sourcing
preferences shift away from China.

Furthermore, the rise of e-commerce has significantly
influenced packaging demands. With online retail expected to
represent over 12% of all retail in Western Europe and over
19% in the United States, supply chain logistics have
expanded rapidly, necessitating durable and scalable
packaging solutions like FIBCs.

2024-2025 has been a transformative year for the FIBC
industry, characterized by rising global demand, sectoral
diversification and strong performance from key
manufacturing hubs like India. The industry is expected to
maintain this growth momentum, adapting to global trade
dynamics, evolving consumer markets and shifting supply
chain needs.

Following the 26% tariff announced by the Trump
administration, a temporary 90-day pause began on
April 9, 2025. A lower 10% tariff remains in effect. Thus far, this
has not significantly impacted our orders. However, we may
need to consider shared cost arrangements with clients if
conditions change. Latest news say US is to cut tariffs on
China from 145% to 30% for a 90 day period but Indian
suppliers still seem to be better positioned compared to
Chinese exporters facing steeper tariffs.

At Polyspin, we take pride in being one of India's oldest
manufacturers and exporters of FIBCs. Our advanced
manufacturing facilities and cutting-edge machinery ensure
the highest quality of finished products. Our philosophy
centers on continuous improvement—across products,
processes, systems, and our team—enabling us to unlock new
possibilities and build strong capabilities. This drive helps us
stay focused on achieving leadership in our core business
areas while fostering long-term customer relationships. We
are committed to delivering customer satisfaction through
ongoing innovation, supported by a culture of positivity and
collaboration.

Polyspin continues to grow by focusing on its key strengths
and future opportunities. One of our major areas of focus is
research and development, where we work continuously to
enhance our manufacturing systems and improve traceability.
This leads to higher productivity and better inventory control.
We have introduced automation in supporting processes
within manufacturing, which helps us reduce manual work and
improve efficiency. Our fabric store is equipped with a barcode
system that prevents materials from staying too long in storage
and which helps in effective and efficient material movement
between departments and processes, which is important for
smooth functioning as well as maintaining UV protection in the
fabric. To manage waste better, we use automated systems
that detect defects in fabrics early, helping us reduce material
loss. All our workers are permanent employees, which allows
us to provide regular training and skill development. This
results in improved product quality and better output. We are
committed to sustainable practices with our energy needs met
through in factory solar power and our own windmill. Customer
feedbacks are thoroughly reviewed to find the root cause and
corrective actions are taken. Actions are recorded and closely
monitored. We aim to reply to all customer queries within
24 hours or within 48 hours if more clarification is needed.
These ongoing efforts help strengthen our operations and
open up new opportunities for growth in the future.

Along with general industrial risks that any company would
face, our industry specifically given the highly labour-intensive
nature of the industry, there is an ongoing risk related to
workforce management. Challenges such as high attrition
rates, skill gaps and the need for continuous training can
impact productivity and operational efficiency. Additionally,
frequent updates in government labour policies require
constant monitoring and compliance. Failure to adapt to these
regulations or maintain a stable workforce could lead to
disruptions in production, increased costs or legal
non-compliance. To mitigate this risk, Polyspin invests in
regular skill development programs, employee engagement
initiatives and closely monitors labour laws to ensure timely
and appropriate action.

We believe our employees are the foundation of our success.
We are committed to supporting them and giving back to the

communities around us. Last year, we offered career guidance
to students of class 10 and 12 and hosted a summer camp for
children. These efforts reflect our belief that a strong company
grows with a strong and supported community.

We have continued to align our operations with market trends
through focused strategy and innovation. Key highlights
include:

Strong client retention and continuous in-coming orders.

Working continuously on increasing Operational efficiencies
through automation, Time study, Motion study and focusing on
Value Added bags.

Progress in digital systems integration.

With global sourcing shifting in our favour and continued
demand, we expect sustained growth. The industry outlook
remains positive, though we will stay alert to any trade or
macroeconomic shifts.

OPEN END SPINNING DIVISION

The Company had permanently closed the operations of
textile division during the last financial year 2023-24 due to
unviability of prices and continued market slow-down. The
management has completed the realization process during
September 2024. The Machineries of Book value
Rs. 57.22 lakhs out of Total Assets held for sale of Rs.5.84
Crores were re-employed for FIBC division. The management
intends to use those machines for FIBC division and will be
disposed whenever the prospective buyers are identified.

The details of discontinued operations are as follows:

Total Profit/ (Loss) of Discontinued operations was
(Rs.110.93) Lakhs. Out of Total Losses made, the loss pertains
to sales of Machineries was Rs. 106.60 lakhs.

SOLAR PLANT

The Company has completed the installation of 1.304 MW
(1304 kWp) Roof Top Solar Power Plant at FIBC Division in
the last year with an intent to reduce the power cost through
Captive Consumption. The Solar Panels started generating
powers from April 2024 onwards. The Solar Panel has
generated 17,31,492 units during the year and these were
used for captive consumption.

CIM&MCI&I DCDCnDMAMCC . , . ..

KEY FINANCIAL RATIOS

In accordance with Schedule V (B) of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, the Key
Financial Ratios for the financial year 2024-25 are given below.

There have been significant change (i.e. 25% or more) in the
following ratios.

- For Serial No.3, 6, 7,8, 9 and 10 due to Improved revenue
and profitability.

SOURCES OF FUNDS
Own Funds

The Company's Net Worth has increased to
Rs.5,456.62 Lakhs as on 31^st March, 2025 as against
Rs.5,142.67 Lakhs of the previous year.

Equity

The Company's equity comprises 1,00,00,000 equity
shares with a face value of Rs.5 per share, with
Promoters holding of 46.81 % as on 31^st March, 2025.

Book Value

The Book Value of shares as on 31^st March, 2025 is
Rs.58.61 per share.

Other Equity

The Compan y's other equ ity I n creased to
Rs. 4,956.60 Lakhs as on 31^st March, 2025 as against
Rs. 4,642.67 Lakhs of the previous year. Free reserves
constitute 100% of the other equity.

Long Term Borrowings

The Company's Long Term borrowings stood at
Rs. 1,917.11 Lakhs as on 31^st March, 2025 compared to
Rs. 2,599.90 Lakhs of the previous year as detailed
below.

APPLICATION OF FUNDS
Gross Block

The Company's Gross Block of Fixed Assets increased to
Rs. 8,413.91 Lakhs as against Rs. 8,436.82 Lakhs of the
previous year.

RISK MANAGEMENT

The Company has robust management architecture.
The Company identifies categories, maps mitigation
strategies and monitors potential risks. The strategies
are drawn up considering potential risks within the short /
medium / long term outlook:

BOARD OF DIRECTORS

At the 39^th Annual General Meeting held on 30-08-2024, the
following Directors were re-appointed as an Independent
Directors for a second term of 5 consecutive years as per the
details provided below:

Period from September 1,2024 up to August 31,2029

1. Shri S.R. Venkatanarayana Raja

2. Shri V.S. Jagdish

3. Shri R. Sundaram

Period from September 20, 2024 to September 19, 2029

Shri Rajesh Devarajan

In accordance with the provisions of Section 152 of the
Companies Act, 2013, Smt. Durga Ramji (DIN: 00109397)
Director retire by rotation at the ensuing Annual General
Meeting, and being eligible, offer her selves for reappointment.
The Board recommend her reappointment.

Key Managerial Personnels (KMPs)

Pursuant to the provisions of Section 203 of the Companies
Act, 2013, the KMPs of the Company as on date are;

1. Shri R. Ramji, Managing Director

2. Shri B.Ponram, Chief Operating Officer

3. Shri S. Seenivasa Varathan, Chief Financial Officer

4. Shri A. Emarajan, Company Secretary &

Compliance Officer

Appointment of Independent Directors

The Independent Directors hold office for a period of 5 years
and are not liable to retire by rotation. No Independent
Directors retired during the Year.

Declaration by Independent Directors

The Company has received declarations from all the
Independent Directors of the Company confirming that they
meet the criteria of independence as prescribed under Section
149(6) of the Companies Act, 2013 and SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015
and they have complied with the Code for Independent
Directors as prescribed in Schedule IV to the Act.

Pursuant to Rule 8(5) (iii) of Companies (Accounts) Rules,
2014, it is reported that, other than the above, there have
been no changes in the Directors or Key Managerial
Personnel during the year.

The Company has formulated a code of conduct for the
Directors and Senior Management Personnel, which has
been complied with.

The Audit Committee has four members, out of which three
are Independent Directors. Pursuant to Section 177(8) of
the Companies Act, 2013, it is reported that there has not been
an occasion, where the Board had not accepted any
recommendation of the Audit Committee.

Policy of Directors Appointment and Remuneration

In accordance with Section 178(3) of the Companies Act, 2013
and based upon the recommendation of the Nomination and
Remuneration Committee, the Board of Directors have
approved a policy relating to appointment and remuneration of
Directors, Key Managerial Personnel and Other Employees.
The objective of the Nomination and Remuneration Policy is to
ensure that the level and composition of remuneration is
reasonable, the relationship of remuneration to performance is
clear and appropriate to the long-term goals of the Company.
The policy also envisages and takes into account the total
involvement with dedication and human touch.

The Nomination and Remuneration Committee and this
Policy shall be in compliance with the Companies Act, 2013
and SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015. There has been no change in the policy
during the year under review.

T h e w e b a d d r e s s o f t h e P o l i c y i s a t
http://polyspin.org/admin/policy/Nomination%20Remuneratio
n%20Policy.pdf.

None of the Directors are disqualified under Section 164 of
the Companies Act, 2013.

BOARD EVALUATION

Pursuant to Section 134(3) (p) of the Companies Act, 2013 and
Regulation 25(4) of SEBI (LODR) Regulations, 2015,
Independent Directors have evaluated the quality, quantity and
timeliness of the flow of information between the Management
and the Board, Performance of the Board as a whole and its
Members and other required matters.

Pursuant to Schedule II Part D of SEBI (LODR) Regulations,
2015, the Nomination and Remuneration Committee has laid
down evaluation criteria for performance evaluation of
Independent Directors, which will be based on attendance,
expertise and contribution brought in by the Independent
Directors at the Board Meeting and Committee Meetings,
which were taken into account at the time of
re-appointment of Independent Director.

Pursuant to Regulation 17(10) of SEBI (LODR) Regulations,
2015, the Board had carried out an annual evaluation of its
own performance as well as that of its Committees and
individual directors. The evaluation has been made based on
the evaluation criteria as approved by the Nomination and
Remuneration Committee.

MEETINGS

During the year under review, five meetings of the Board
were held. The details of the Board and Committee Meetings
are provided in Corporate Governance Report forming part of
this report.

SECRETARIAL STANDARD

As required under clause 9 of Secretarial Standard 1, the
Board of Directors of the Company confirm that the Company
has complied with the applicable Secretarial Standards.

ORDERS PASSED BY REGULATORS

Pursuant to Rule 8(5) (vii) of Companies (Accounts) Rules,
2014, it is reported that, no significant and material orders have
been passed by the Regulators or Courts or Tribunals, which
would impact the going concern status of the Company.

INTERNAL FINANCIAL CONTROLS

The Company has implemented and evaluated the Internal
Financial Controls, which provide a reasonable assurance in

respect of providing financial and operational information,
complying with applicable statutes and policies, safeguarding
of assets, prevention and detection of frauds, accuracy and
completeness of accounting records. In accordance with Rule
8(5) (viii) of Companies (Accounts) Rules, 2014, it is hereby
confirmed that the Internal Financial Controls are adequate
with reference to the financial statements and operations
of the Company.

INTERNAL AUDIT

Shri P. Ramadoss FCA (MRN 201506) the Internal Auditor,
submits his Internal Audit Reports to the audit committee,
which are reviewed by Audit Committee as well as by the
Board. Further, the Board annually reviews the effectiveness
of the Company's internal control and audit system.

PARTICULARS OF LOANS, GUARANTEES OR
INVESTMENTS

Pursuant to Section 186(4) of the Companies Act, 2013, it is
reported that the Company has not given any loans,
guarantees and no investments has been made in bodies
corporate or firm during the financial year. The particulars of
the investments already made by the Company are provided
under Note No.4 of Notes forming part of accounts of
Standalone Financial Statements.

REP O RT ON CORP ORATE GOVE RNANCE

The Company has complied with the requirements of
Corporate Governance as stipulated in SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015.
A report on Corporate Governance is annexed herewith
and it forms part of the Directors Report as per Annexure - I
as required under Schedule V (C) of LODR Regulations.
A certificate from the Secretarial Auditor confirming
compliance is also enclosed as Annexure - II, as required
under Schedule V (E) of LODR. The code of conduct as
ap proved by the board is provided in the above annexure and
website.

CORPORATE SOCIAL RESPONSIBILITY

The Company has taken corporate social responsibility
initiatives. The Committee comprising one Independent
Director and two directors has been constituted as CSR
Committee to develop CSR policy and implement the CSR
initiatives whenever it is applicable to the Company.

The CSR Policy is available at the company's website at the
following link: http://polyspin.org/admin/policy/coporate%
20social%20 responsibility.pdf.

During the year under review, the CSR obligation was not
applicable to the Company since the Company is not fulfilled
any one of the criteria as provided in Section 135(1) of the
Companies Act, 2013.

STATUTORY AUDIT :

M/s. Krishnan and Raman (Firm Registration No. 001515S),
Chartered Accountants were appointed as Statutory Auditor of
your Company at the Annual General Meeting held on
26-08-2022 for the first term of 5 consecutive years. They
will hold office till the 42^nd Annual General Meeting to be held
in the year 2027.

The report given by the Statutory Auditor on the financial
statements of the Company for the financial year 2024-25 is
part of this Annual Report. There has been no qualification,
reservation or adverse remark given by the Auditors in their
Report.

COST AUDIT:

As per provisions of Section 148 of the Companies Act, 2013
and the Companies (Cost Records and Audit) Rules, 2014, the
Government has not notified the products of our Company to
which the Cost Audit would be applicable. Hence, the Cost
Audit was not conducted for your Company for the financial
year 2024-25.

SECRETARIAL AUDIT:

Pursuant to Provisions of Section 204 of the Companies Act,
2013 read with Rule 9 of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules 2014, your
Company has appointed Mr. B. Subramanian, Company
Secretary in Practice, Chennai to conduct the Secretarial Audit
of the Company for the financial year ended 31^st March, 2025.
The Secretarial Audit Report (in Form MR - 3) is enclosed as
Annexure - III to this report.

As required under Regulation 34(3) read with Schedule V Para
C (10)(i) of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, Certificate from the
Secretarial Auditor that none of the Company's Director have
been debarred or disqualified from being appointed or
continuing as Directors of the Companies is enclosed as
Annexure III A to this report.

Further, upon the recommendation of the Audit Committee,
the Board of Directors approved and recommended
for shareholders' approval for the appointment of
Shri B. Subramanian (CP No. 2275), Practising Company
Secretary as Secretarial Auditor of the Company for a term of
five consecutive years beginning from the financial year
2025-26 as per Regulation 24A of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 and Section
204 of the Companies Act, 2013.

CONSERVATION OF ENERGY, TECHNOLOGY
ABSORPTION, FOREIGN EXCHANGE EARNINGS AND
OUTGO

The information on conservation of energy, technology
absorption and foreign exchange earnings and outgo
stipulated under Section 134(3) (m) of the Companies Act,

2013 read with Rule 8 of the Companies (Accounts) Rules,

2014 are given in Annexure - IV to this report.

EXTRACT OF ANNUAL RETURN

As per Section 92(3) and 134 (3)(a) of the Companies Act,
2013, the Company has uploaded the extract of Annual Return
in the Company website at www.polyspin.org. The said return
can be accessed at the following link
http://polyspin.org/admin/investor relation/Annual Return.pdf.

DETAILS OF SUBSIDIARY, JOINT VENTURE OR
ASSOCIATES

As on March 31,2025, the Company is having one Associate
Company namely M/s. Lankaspin Private Limited, Srilanka
and does not have any Subsidiary or Joint Venture.

Pursuant to the provisions of Section 129(3) of the Companies
Act, 2013 read with the Companies (Accounts) Rules, 2014 a
statement containing the salient features of the financial
statements of Associate Company in Form AOC 1 is enclosed
as Annexure V.

CONSOLIDATED FINANCIAL STATEMENTS

As per provisions of Section 129(3) of the Companies Act,
2013 and Regulation 34 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, Companies are
required to prepare consolidated financial statements of its
Subsidiaries and Associates to be laid before the Annual
General Meeting of the Company.

Accordingly, the consolidated financial statements
incorporating the accounts of Associate Company viz.
M/s. Lankaspin Private Limited, Srilanka along with the
Auditors' Report thereon, forms part of this Annual Report. As
per Section 136(1) of the Companies Act, 2013, the financial
statements including consolidated financial statements are
available at the Company's website at the following link at
www.polyspin.org.

The consolidated net profit after tax of the Company amounted
to Rs. 410.22 Lakhs for the year ended 31^st March 2025 as
against the Net Loss after tax of Rs. 278.42 Lakhs of the
previous year.

The consolidated Total Comprehensive Income for the year
under review is Rs. 463.41 Lakhs as compared to
(Rs. 239.92 Lakhs) of the previous year.

DISCLOSURE AS PER SEXUAL HARASSMENT OF
WOMEN AT WORK PLACE (PREVENTION, PROHIBITION
AND REDRESSEL) ACT, 2013

The Company has constituted an Anti-Sexual Harassment
Policy in line with the requirements of the Sexual Harassment
of Women at the work place (Prevention, Prohibition and
Redressal) Act, 2013. Internal Complaints Committee (ICC)
has been set up to redress the complaints received for
sexual harassment.

During the year, the Company has not received any complaints
on sexual harassment.

PUBLIC DEPOSITS

Pursuant to Rule 8(5)(v) & (vi) of Companies (Accounts) Rules,

2014, it is reported that the Company has not accepted any
fixed deposit from the public during the year under section 73 of
the Act. The Company has no deposit, which is not in
compliance with the Chapter V of the Companies Act, 2013.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

In accordance with Section 177(9) and (10) of the Companies
Act, 2013 and Regulation 22 of SEBI (LODR) Regulations,

2015, the Company has established a Vigil Mechanism and
has a Whistle Blower Policy. The policy is available at the
Company's website.

A forum to enable the concerned personnel of the Company
to report any deviation or other acts which are against the
general code of conduct of personnel, business and other
activities has been created.

RISK MANAGEMENT POLICY

The Company has developed and implemented a risk
management policy, as required under Regulation 17(9) of
SEBI (LODR) Regulations, 2015 and Pursuant to Section
134(3)(n) of the Companies Act, 2013. An internal Risk
Management Committee has been formed to address and
evaluate various risks impacting the Company, in practice with
reference to the forex and interest rate. At present, the
committee has not identified any element of risk which may
threaten the existence and development of the Company.

The Company has laid down a Risk Management Policy and
Procedure to inform the Board Members about the Risk
assessment and minimization process, which is a vigorous and
active process for identification and mitigation of risks. The
production and sales are monitored and any deviation from the
projected is identified, solution found and necessary
rectifications are done periodically.

Audit Committee as well as the Board of Directors has
adopted the Risk Management Policy and the Audit
Committee reviews the risk management and mitigation plan
from time to time.

MATERIAL CHANGES AND COMMITMENTS

No Material changes and commitments, affecting the
financial position of the Company has occurred between
the end of the financial year 2024-25 and till the date of
this report.

PARTICULARS OF EMPLOYEES

The information required pursuant to Section 197 (12) of the
Companies Act, 2013 read with Rule 5(2) and 5(3) of the
Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 in respect of employees of the

Company and Directors are annexed as Annexure - VI and
forms part of this Report.

RELATED PARTY TRANSACTIONS

There were no materially significant related party transactions
which could have potential conflict with the interests of the
Company. Transactions with related parties are in the ordinary
course of business and on arm's length basis and are
periodically placed before the Audit Committee and Board for
its approvals and Form AOC-2 is enclosed as Annexure-VII.

In accordance with Indian Accounting Standard - 24 (Related
Party Disclosure), the details of transaction with Related
Parties are provided in Note No. 31 of Notes Forming Part of
Accounts of Standalone Financial Statements.

As required under Regulation 46(2)(g) of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015,
the Related Party Transaction Policy is available on the
Company Website and its web link is
http://polyspin.org/admin/policy/uploaded-
62cbabf72c23d8.47105888.pdf.

HUMAN RESOURCES

Your Company treats its “human resources” as one of its most
important assets. Your Company enjoys a very cordial
relationship with workers and employees at all levels.

Your Company continuously invests in attraction, retention
and development of talent on an ongoing basis. A number of
programs that provide focused attention are currently
underway. Your Company's thrust is on the promotion of talent
internally, through job rotation and job enlargement.

TRANSFER OF AMOUNT TO INVESTOR EDUCATION
AND PROTECTION FUND

Pursuant to the provisions of the Investor Education Protection
Fund (uploading of information regarding unpaid and
unclaimed amounts lying with companies) Rules, 2012, the
Company has already filed the necessary form and uploaded
the details of unpaid and unclaimed amounts lying with the
Company as on 31-03-2024 with the Ministry of Corporate
Affairs.

The Company has transferred the unclaimed dividend
amount of Rs.4,21,896/- for the financial year 2016-17 to IEPF
on 16-10-2024. The Company has also transferred
28,520 Equity shares to IEPF on 29-10-2024. The unclaimed
dividend pertaining to the year 2017-2018 will be transferred to
the IEPF on or before 11-09-2025.

CODE OF CONDUCT

The Board has laid down the code of conduct for Directors of
the Company and Senior Management Personnel.

The Directors shall follow in letter and spirit the provisions as
contained in section 166 of the Companies Act, 2013. They
shall also follow general principles of pillars of character. The

same with certain variation involving their nature of work
applies to the senior management personnel. All the directors
of the board and senior management personnel have
confirmed the compliance with the code.

INSIDER TRADING

The Company has formulated and implemented the code of
conduct for prevention of insider trading with regard to the
securities by directors and designated person of the Company
as per SEBI (Prohibition of Insider Trading) Regulations, 2015
and the Code of Conduct is posted on the website of the
Company.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013, the
Directors confirm that;

(a) in the preparation of the annual accounts for
the year ended 31-03-2025, the applicable
accounting standard had been followed along
with proper explanation relating to material
departures;

(b) they 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 as on 31-03-2025 and profit of the
Company for the year on that date;

(c) they 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) they had prepared the Annual Accounts on a going
concern basis;

(e) they had laid down internal financial controls to be
followed by the Company and that such internal
financial controls are adequate and were
operating effectively; and

(f) they had devised proper systems to ensure
compliance with the provisions of all applicable
laws and that such systems were adequate and
operating effectively.

ACKNOWLEDGEMENT

Your Directors wish to take this opportunity to place on record
their gratitude and sincere appreciation for the timely and
valuable assistance and support received from Bankers - Axis
Bank Limited, State Bank of India, Share Transfer Agent,
Sundaram Finance Limited, Customers, Suppliers,
Shareholders and Regulatory Authorities.

The Board also expresses and records its appreciation for
the hard and dedicated efforts of the employees as a team
at all levels.

On Behalf of the Board,

For POLYSPIN EXPORTS LIMITED,

S.V. RAVI R.RAMJI

Place : Rajapalayam Director Managing Director & CEO

Date : May 29, 2025 (DIN : 00121742) (DIN : 00109393)