Your Director’s have pleasure in presenting the 06^th (Sixth) Annual Report together with the Audited Financial Statements of
your Company for the financial year ended March 31, 2026.

1. FINANCIAL RESULTS:

The Company’s financial performance for the year ended March 31, 2026 is summarized as below:

Based on Standalone Financial Statement: -

Based on Consolidated Financial Statement:

2. OPERATION & REVIEW:

On Standalone Basis: Revenue from the operations of your Company for the year 2025-26 was Rs. 235.53 Lakhs as
against Rs. 468.48 Lakhs in the previous year. Profit/(Loss) before Depreciation Interest & Tax for the current year was
Rs. (21.35) Lakhs against Rs. 83.96 Lakhs in the previous year. Profit/(Loss) after tax for the current year at Rs. (53.76)
Lakhs against Rs. 35.50 Lakhs in the previous year. Detailed report on operations of and structure of Business of the
Company has been included in Management Discussion and Analysis Report, which forms part of this Annual Report.

On Consolidated Basis: Revenue from the operations of your Company for the year 2025-26 was Rs. 2395.03 Lakhs.
Profit/(Loss) before Depreciation Interest & Tax for the current year was Rs. 3.30 Lakhs. Profit/(Loss) after tax for the
current year at Rs. (35.52) Lakhs. Detailed report on operations of and structure of Business of the Company has been
included in Management Discussion and Analysis Report, which forms part of this Annual Report.

3. SHARE CAPITAL

As on 31 March, 2026, The Authorized Capital of the Company was Rs.500 Lakhs (Rupees Five crores only) consisting
of 50.00 Lakhs (Fifty Lakh) equity shares of Rs.10 each and the Issued and Paid-up Capital of the Company was 208.80
Lakhs (Rupees two crore eight lakh eighty thousand only) consisting of 20,88,000 (Twenty lakh eighty-eight thousand)
equity shares of Rs.10 each.

4. DIVIDEND

The Board is of the view that, in light of the loss incurred by the Company during the Financial Year 2025-26 and with
a view to preserving its financial resources to support ongoing operations, strengthen its financial position, and fund
future business expansion and growth initiatives, it would be prudent to conserve the available resources. Accordingly,
the Board of Directors does not recommend any dividend for the Financial Year 2025-26.

5. TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND

During the period under review, there is no unpaid/unclaimed dividend which is required to transfer in IEPF (Investor
Education and Protection Fund) as per the provisions of the Companies Act, 2013.

6. TRANSFER TO RESERVES

The Company has not transferred any amount to the General Reserves during the reporting period.

7. DEPOSITS FROM PUBLIC

During the financial year, the Company has not accepted deposits from the public falling within the ambit of Sections
73 and 74 of the Act read with the Companies (Acceptance of Deposits) Rules, 2014 and hence no amount on account
of principal or interest on public deposits was outstanding as on the date of the Balance Sheet.

8. CHANGE IN NATURE OF THE BUSINESS

There was no change in the nature of business of the Company during the year under review.

9. MATERIAL CHANGES AND COMMITMENTS

There is no material change and commitments affecting the Financial Position of the Company which have occurred
between the end of the financial year of the Company to which the financial statements relate and the date of the report.

10. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE EARNINGS
AND OUTGO:

Information on conservation of Energy, Technology absorption, Foreign Exchange earnings and outgo required to be
disclosed under Section 134 of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014 are provided
hereunder:

11. SUBSIDIARY COMPANIES:

Dhruvanshi Agrotech Private Limited is subsidiary of the Company. The Company holds 80% of the equity share capital
of Dhruvanshi Agrotech Private Limited as on March 31, 2026. The subsidiary company is primarily engaged in importing,
exporting, trading, and dealing in agro based products. The inclusion of this subsidiary is expected to complement and
strengthen the business operations of Shashwat Furnishing Solutions Limited. The performance of the subsidiary company
has been satisfactory and is expected to contribute positively to the growth of the Company in the coming years._Details
regarding subsidiary of the Company has been shown in Annexure-I to this report.

Apart from this, there are no other subsidiaries, joint venture companies or associate companies of the Company as on the
date of closure of the financial year. Accordingly, the reporting on the performance and financial position is applicable
only in respect of the said subsidiary company.

12. RISK MANAGEMENT

As a global enterprise, the company is exposed to a range of external as well as internal risks that have a significant
impact on its performance. In order to efficiently manage such risk, the Company has established a well-defined process
of risk management, wherein the identification, analysis and assessment of the various risks, measuring of the probable
impact of such risks, formulation of risk mitigation strategy and implementation of the same takes place in a structured
manner. Though the various risks associated with the business cannot be eliminated completely, all efforts are made to
minimize the impact of such risks on the operations of the Company. Our robust internal control system, for minimizing
the risk, propels our culture of informed and responsible risk handling for attaining the organizational objectives with
optimum utilization of resources.

13. TRANSACTIONS WITH RELATED PARTIES

All the Related Party Transactions entered into are in the ordinary course of business and at armsTength and are in
compliance with the applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations. Further, the
disclosure of transactions with related party for the year, as per applicable Accounting Standards is given in Notes
forming part of Financial Statement for the year ended on March 31, 2026.

The detail disclosure of these transactions in Form AOC-2 pursuant to Section 134 (3)(h) of the Companies Act, 2013
read with Rule 8(2) of the Companies (Accounts) Rules, 2014 is set out as “Annexure II” to this Report.

14. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

The details of Loans, guarantee and Investments covered under the provisions of Section 186 of the Act are given in the
Notes to the Financial Statements for the Financial Year ended on March 31, 2026.

15. DIRECTORS AND KEY MANAGERIAL PERSONNEL
Board of Directors

The Board comprises highly experienced persons of repute and eminence. The Board composition is in conformity
with the applicable provisions of the Act and the Listing Regulations, as amended from time to time. As on date of this
Annual Report, the Board of the Company comprises of Six (06) Directors; One Managing Director, two Whole-Time

Directors and remaining three being Independent Directors. As on the date of this report, the Board of the company
constitutes of the following directors:

During the year under review, no changes occurred on the Board of the company.

Change in Designation

During the year under review, there was no change in designation of any Director of the Company.

Key Managerial Personnel

During the year under review in terms of Section 203 of the Act, the Company has the following Key Managerial
Personnel:

• Mr. Hitesh Karnawat - Managing Director ,

• Mr. Lalit Ghewarchand Karnawat- Whole-Time Director,

• Mrs. Mayuri Karnawat -Whole-Time Director & Chief Financial Officer

• Mrs. Monika Gandhi- Company Secretary and Compliance officer

During the year under review, there were no changes in the Key Managerial Personnel of the Company

i. Retire by Rotation- Mr. Lalit Ghewarchand Karnawat

Pursuant to Sections 149, 152 and other applicable provisions of the Companies Act, 2013, one-third of the directors
of the company are liable to retire by rotation, and if eligible, they can offer themselves for the re-appointment. In this
Annual General Meeting Mr. Lalit Ghewarchand Karnawat (DIN: 09097274), Whole-Time Director of the Company
is liable to retire by rotation and being eligible to offer himself for re-appointment.

ii. Nomination and Remuneration Policy

The policy on nomination and remuneration of Directors, Key Managerial Personnel and other employees has been
formulated in terms of the provision of The Companies act, 2013 and SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 in order to pay equitable remuneration to the Directors, Key Managerial Personnel
and employees of the Company and to harmonize the aspiration of human resources consistent with the goals of the
Company.

The Remuneration Policy has been updated on the website of the Company at https://handicraftsvillage.com

iii. Independent Directors

The Company has received declarations from all the Independent Directors confirming that they meet the ‘Criteria of
Independence’ as specified under Section 149(6) of the Act and the Rules made thereunder and applicable provisions
of Regulation 16(1)(b) of the Listing Regulations and are independent of the management.

iv. Certificate of Practicing Company Secretary

The Company has obtained a certificate from Prashant Malhotra & Associates, Practicing Company Secretary Firm,
Delhi stating that none of the Directors on the Board of the Company have been debarred/ disqualified from being
appointed /continuing as Directors of any company, by the SEBI and Ministry of Corporate Affairs or any such
Statutory authority, under Annexure- III.

16. BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and the corporate governance requirements as prescribed by the
Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015 (“SEBI
Listing Regulations”) The Board has adopted a process for evaluating its performance and effectiveness as well as that
of its committees and carried out an annual evaluation of its own performance, Board Committees and the Directors
individually.

The Board and the Nomination & Remuneration Committee reviewed the performance of the individual Directors on
the basis of the criteria and framework adopted by the Board. The evaluation criteria included various aspects such as,
functionality of Board, compositions, process & procedures including adequate & timely information, attendance,
delegation of responsibility, decision making, roles & responsibility including monitoring, benchmarking, feedback
relationship with the stakeholders and as provided by the Guidance Note on Board Evaluation issued by SEBI dated
January 05, 2017.

In a separate meeting of the Independent Directors, performance of the Non-Independent Directors, the Board as a
whole and the Chairman was also evaluated, on the basis of pre-set criterion.

During the year, Board Evaluation cycle was completed by the Company internally which included the Evaluation of
the Board as whole, Board Committees and Peer Evaluation of the Directors. The Board was satisfied with the
contribution of directors, in their respective capacities and as a team.

17. MEETING OF BOARD OF DIRECTORS AND COMPLIANCE TO SECRETARIAL STANDARD

The Board of Directors of the Company met Five (5) times during the year i.e. on 30.05.2025, 30.06.2025, 06.09.2025,
14.11.2025 and 10.03.2026. The intervening gap between the meetings was within the period prescribed under the
Companies Act, 2013. The Company has complied with the provisions of Secretarial Standard 1 (relating to meetings
of the Board of Directors) and Secretarial Standard 2 (relating to General meetings) during the year.

Attendance of Directors during the Board Meeting

18. GENERAL MEETING

During the period under review, the Annual general meeting of the company was held on 30^th September, 2025.

19. BOARD COMMITTEES

With a view to have more focused attention on business and for better governance and accountability, the Board has
the following mandatory committees:

1. Audit Committee

2. Nomination and Remuneration Committee

3. Stakeholders Relationship Committee

The terms of reference of these Committees are determined by the Board and their relevance reviewed from time to
time. Meetings of each of these Committees are convened by the respective Chairman of the Committee. The Board
supervises the execution of its responsibilities by the Committees and is responsible for their action. Following are the
details of Board Committees;

1. Audit Committee

Our Company has constituted an Audit Committee (“Audit Committee”), vide Board Resolution dated September
08, 2021, as per the applicable provisions of the Section 177 of the Companies Act, 2013 and also to comply with
Regulation 18 of SEBI Listing Regulations, 2015 applicable upon listing of the Company’s Equity shares on SME
platform of BSE, the constituted Audit Committee comprises following members:

The Company Secretary of our Company shall act as a Secretary to the Audit Committee. The Chairman of the Audit
Committee shall attend the Annual General Meeting of our Company to answer shareholder queries.

The powers, roles and terms of reference of the committee are in compliance with the Section 177 of the Companies
Act, 2013 and rules made there under and SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015 as applicable.

2. Stakeholders Relationship Committee

Our Company has formed the Stakeholders Relationship Committee as per Regulation 20 of SEBI Listing Regulations,
2015 as amended vide Resolution dated September 08, 2021. The constituted Stakeholders Relationship Committee
comprises the following:

The Company Secretary of our Company shall act as a Secretary to the Stakeholders Relationship Committee.

The roles and terms of reference of the committee are in compliance with the Section 178 of the Companies Act, 2013
and rules made there under and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as
applicable.

3. Nomination and Remuneration Committee

Our Company has formed the Nomination and Remuneration Committee as per Regulation 19 of SEBI Listing
Regulations, 2015 as amended vide Resolution dated September 08, 2021. The Nomination and Remuneration
Committee comprise the following:

The Company Secretary of our Company shall act as a Secretary to the Nomination and Remuneration Committee.

The roles and terms of reference of the committee are in compliance with the Section 178 of the Companies Act,
2013 and rules made there under and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as
applicable.

20. EXTRACT OF ANNUAL RETURN

In accordance with the provisions of Section 134(3) read with Section 92(3) of the Companies Act, 2013, the Annual
Return as on March 31, 2026 is available on website of the Company and can be viewedwww.handicraftsvillage.com.
By virtue of amendment to Section 92(3) of the Companies Act, 2013, the Company is not required to provide extract
of Annual Return (Form MGT-9) as part of the Board’s report.

21. DIRECTORS’ RESPONSIBILITY & SUSTAINABILITY STATEMENT

As required by Section 134 (5) of the Companies Act, 2013, the Directors hereby confirm:

(i) in the preparation of the annual financial statements, applicable accounting standards have been followed and
there are no material departures from the said standards;

(ii) such accounting policies have been selected and applied consistently and judgments and estimates made that are
reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at March 31,
2026 and of the profit of the company for the year ended on that date;

(iii) proper and sufficient care has been taken for maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the company and for prevention and detection of fraud and
other irregularities;

(iv) the annual financial statements have been prepared on a going concern basis;

(v) proper internal financial controls are in place and are adequate and are operating effectively; and

(vi) the systems to ensure compliance with the provisions of all applicable laws are in place and are adequate and

operating effectively.

22. STATUTORY AUDITORS

Pursuant to the provisions of Section 139 and other applicable provisions, if any, of the Companies Act, 2013 and the
rules made thereunder (including any statutory modification(s) or re-enactment thereof), the company has reappointed
M/s. A Y and Company, Chartered Accountants, as the Statutory Auditors of the Company for a period of 5 years, to
hold office from the conclusion of 2^nd Annual General meeting until the conclusion of the 7th Annual General Meeting
of the Company to be held for the financial year to be ended on March 31, 2027.

The reports given by the Statutory Auditor on the financial statement of the Company are forming part of this Annual
Report. There has been no qualification, reservation, adverse remark or disclaimer given by the Statutory Auditor in
their Report for the financial year ended March 31, 2026.

23. SECRETARIAL AUDITORS

Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, the Company has appointed M/s Prashant Malhotra & Associates, Company Secretary in
practice to undertake the Secretarial Audit of the Company for the year under review. The Board has duly reviewed the
Secretarial Auditor’s Report and the comments, appearing in the report are self-explanatory and do not call for any
further explanation by the Board of Directors as provided under section 134 of the Act. The Secretarial Audit Report is
annexed herewith as “Annexure-IV”.

24. INTERNAL AUDITORS

In terms of Section 138 of the Companies Act, 2013 and Rules made there under, M/s. Singhvi Mehta and Associates,
Chartered Accountants, have been appointed as an Internal Auditors of the Company for Financial Year 2025-26.
During the year, the Company continued to implement their suggestions and recommendations to improve the control
environment. Their scope of works includes, Review of the accuracy and reliability of the Corporation accounting
records and financial reports, review of operational efficiency, effectiveness of systems and processes, and assessing
the internal control strengths, opportunities for cost saving and recommending company for improving cost efficiencies.

25. REPORT ON CORPORATE GOVERNANCE

Our company provides utmost importance at best Governance Practices and are designated to act in the best interest of
its stakeholders. Better governance practice enables the company to introduce more effective internal controls suitable
to the changing nature of business operations, improve performance and also provide an opportunity to increase
stakeholders understanding of the key activities and policies of the organization.

Our Company has incorporated the appropriate standards for corporate governance. Pursuant to Regulation 15(2) of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company is not required to
mandatorily comply with the provisions of certain regulations of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015. Hence, company is not filing Corporate Governance Report to stock exchange
quarterly and not providing the Corporate Governance Report as the part of this Annual Report.

26. MANAGEMENT AND DISCUSSION ANALYSIS REPORT:

A Separate report on Management Discussion and Analysis Report as required under clause 34 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 has been presented in a separate section forming part of
this Annual Report.

27. VIGIL MECHANISM /WHISTLE BLOWER POLICY

As per the provisions of Section 177 (9) & (10) of the Companies Act, 2013 read with Regulation 22 of Securities and
Exchange Board Of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, your Company has a
Whistle Blower Policy with a view to provide vigil mechanism to Directors, employees and other stakeholders to
disclose instances of wrong doing in the workplace and report instances of unethical behavior, actual or suspected fraud
or violation of the Company’s code of conduct or ethics policy. The Whistle Blower Policy also states that this
mechanism should also provide for adequate safeguards against victimization of Director(s)/ Employees who avail of
the mechanism and also provide for direct access to the Chairman of the Audit Committee in exceptional cases. The
Policy is available on the Company’s website atwww.handicraftsvillage.com,

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

Your Company has zero tolerance towards any action on the part of any of its officials, which may fall under the ambit
of “Sexual Harassment” at workplace. Pursuant to the provisions of Section 21 of the Sexual Harassment of Women at
the Workplace (Prevention, Prohibition, Redressal) Act, 2013, the Company formulated a Policy on Prevention of
Sexual Harassment at Workplace. All employees (permanent, contractual, temporary, trainees, etc) are covered under
this policy. An Internal Complaints Committee (ICC) was constituted which is responsible for redressal of complaints
related to sexual harassment at the workplace.

Pursuant to the requirements of Section 22 of Sexual Harassment of Women at Workplace (Prevention, Prohibition &
Redressal) Act 2013 read with Rules thereunder, the Internal Complaints Committee of the Company has not received
any complaint of Sexual Harassment during the year under review and no complaint was pending as of 31st March,
2026.

Pursuant to the said Act, the details regarding the number of complaints received, disposed and pending during the FY
2025-26, pertaining to incidents under the above framework/ law are as follows:

29. BUSINESS RESPONSIBILITY AND SUSTAINBILITY REPORT

As stipulated under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Business
Responsibility and Sustainability Report describing the initiatives taken by the Company from an environmental, social
and governance perspective is not applicable to your company.

30. EQUAL EMPLOYMENT OPPORTUNITIES

Being an equal opportunity employer, the company will do its utmost to ensure that all of its employees are treated fairly
during the period of their employment irrespective of their race, religion, sex (including pregnancy), color, creed, age,
national origin, physical or mental disability, citizenship status, ancestry, marital status, veteran status, political affiliation,
or any other factor protected by law. All decisions regarding employment will be taken based on merit and business needs
only.

31. POLICY ON CODE OF CONDUCT AND ETHICS

Being a SME listed Company exemption has been provided to the Company from formulating of Code of Conduct for
Board of Directors and Senior Management Personnel. However, Board of Directors has formulated and adopted Code
of Business Conduct Ethics for Director & Senior Management Executive policy. As an organization your Company
places a great importance in the way business is conducted and the way each employee performs his/her duties. Your
Company encourages transparency in all its operations, responsibility for delivery of results, accountability for the
outcomes of our actions, participation in ethical business practices and being responsive to the needs of our people and
society. Towards this end, your Company has laid down a Code of conduct applicable to all the employees of your
Company and conducted various awareness sessions across the Company. The Code provides for the matters related to
governance, compliance, ethics and other matters. In this regard certificate from Managing Director as required under
Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been received by the
Board and the same is attached herewith as per Annexure - V.

The detailed Code of Business Conduct Ethics for Director & Senior Management Executive policy available on below
link:www.handicraftsvillage.com.

32. DISCLOSURE WITH RESPECT TO MAINTENANCE OF COST RECORDS

Your Company doesn’t fall within the scope of Section 148(1) of the Companies Act, 2013 and hence does not require
to maintain cost records as specified by the Central Government.

33. CORPORATE SOCIAL RESPONSIBILITY COMMITTEE

The provisions of Section 135 of the Companies Act, 2013 are not applicable to your Company. However, the Company
constantly strives to ensure strong corporate culture which emphasizes on integrating CSR values with business
objectives.

34. MD AND CFO CERTIFICATION

In terms of Regulation 17(8) of the Listing Regulations, the Managing Director and CFO has certified to the Board of
Directors of the Company with regard to the financial statements and other matters specified in the said regulation for
the financial year 2025-26. The certificate received is attached herewith as per Annexure - VI.

35. LISTING FEES

The Company affirms that the annual listing fees for the year 2026-27 to the BSE Limited (BSE SME) has been duly
paid.

36. HUMAN RESOURCE DEVELOPMENT

The Company sees its employees as critical to the future and believes that every employee needs to possess apart from
competence, capacity and capabilities, sustainable values, current and contemporary which would make them useful and
relevant and competitive in managing the change constructively for overall growth of the organization. To this end the
company’s approach and efforts are directed towards creating a congenial work atmosphere for individual growth,
creativity and greater dedicated participation in organizational development. The Company believes that the success of an
organization largely depends on the quality of its workforce. Employee relations remained cordial and peaceful
throughout the year.

37. PARTICULARS OF EMPLOYEES

The information required pursuant to Section 197 read with rule 5 of the Companies (Appointment and Remuneration

of Managerial Personnel) Rules, 2014 is annexed as Annexure VII to this Report.

38. REPORTING OF FRAUDS

During the year under review, neither the Statutory Auditors nor the Secretarial Auditor has reported to the Audit
Committee under Section 143(12) of the Companies Act, 2013, any instances of fraud committed against the Company
by its officers or employees, the details of which would need to be mentioned in boards report.

39. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS IMPACTING THEGOING CONCERN STATUS OF THE COMPANY:

There are no significant and material orders passed by the Regulators or Courts or Tribunals which would impact the
going concern status and the Company’ future operations.

40. DISCLOSURE IN REFERENCE OF SUB RULE 1 CLAUSE (C) SUB CLAUSE (VIII) OF RULE 2 OF
COMPANIES (ACCEPTANCE OF DEPOSITS) RULES 2014

During the period under review the company has accepted unsecured loan from its director (s), the particulars of loan from
director(s) are provided in the notes to financial statement of the company for the financial year ended 31 March, 2026.

41. AFFIRMATION ON COMPLIANCE OF SECRETARIAL STANDARDS

The Company hereby affirms that during the year under review the Company has complied with all the applicable
mandatory secretarial standards (including any modifications or amendments thereto) issued by the Institute of
Company Secretaries of India. The Company has complied with applicable Secretarial Standards issued by the Institute
of Company Secretaries of India on Board and General Meetings.

42. PREVENTION OF INSIDER TRADING

The Company has adopted a Code of conduct for prevention of Insider Trading (“the Code”) in accordance with the
SEBI (Prohibition of Insider Trading) Regulations, 2015 (The PIT Regulations). The Code is applicable to Promoters
and Promoter’s Group, all Directors and such Designated Employees who are expected to have access to unpublished
price sensitive information relating to the Company and connected persons. The Company Secretary is the Compliance
Officer for monitoring adherence to the said PIT Regulations. The copy of the same is available on the website of the
Company at thewww.handicraftsvillage. com.

43. INVESTOR GRIEVANCE REDRESSAL

As per regulation 13 of SEBI (Listing Obligation & disclosure Requirements), Regulations 2015 the number of
complaints received and resolved to the satisfaction of investors during the year under review. There was no pending
complaint as on 31^st March 2026, as per the certificate given by RTA.

44. INTERNAL FINANCIAL CONTROLS SYSTEMS AND THEIR ADEQUACY

The Board has adopted policies and procedure for ensuring the orderly and efficient conduct of its business, including
adherence to the Company’s policies, the safeguarding of its assets, the prevention and detection of fraud and errors,
the accuracy and completeness of the accounting records, and the timely preparation of reliable financial disclosures.

During the year no reportable material weakness in the design or operation were observed.

45. ‘THINK GREEN, GO GREEN’ INITIATIVE

The Companies Act, 2013 permits companies to send documents like Notice of Annual General Meeting, Annual Report
and other documents through electronic means to its members at their registered email addresses, besides sending the
same in physical form.

As a responsible Corporate Citizen, the Company has actively supported the implementation of ‘Green Initiative’ of
Ministry of Corporate Affairs (MCA) and effected electronic delivery of Notices and Annual Reports to those
shareholders whose email ids were already registered with the respective Depository Participants (DPs) and who have
not opted for receiving such documents in physical form.

Members, who have not registered their e-mail addresses so far, are requested to register their e-mail address
with the Registrar and Share Transfer agent (R&TA) of the Company/Depository participant (DP) of respective
member and take part in the Green Initiative of the Company, for receiving electronic communications and
support the “THINK GREEN, GO GREEN” initiative.

Further, pursuant to Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and
Administration) Rules, 2014, the Company is providing e-voting facility to all members to enable them to cast their
votes electronically in respect of resolutions set forth in the Notice of Annual General Meeting (AGM). The detailed
instructions for e-voting are provided in the Notice of AGM.

46. CAUTIONARY NOTE

Statements in this Board’s Report and Management Discussion and Analysis describing the Company’s objectives,
projections, estimates, expectations or predictions may be “forward-looking statements” within the meaning of
applicable securities laws and regulations. Actual results could differ materially from those expressed or implied.
Important factors that could make difference to the Company’s operations include raw material availability and its
prices, cyclical demand and pricing in the Company’s principal markets, changes in Government regulations, Tax
regimes, economic developments in the Country and other ancillary factors.

47. OTHER DISCLOSURES

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

a) As per rule 4(4) the Companies (Share Capital and Debentures) Rules, 2014, the Company has not issued equity
shares with differential rights as to dividend, voting or otherwise.

b) As per rule 8(13) the Companies (Share Capital and Debentures) Rules, 2014, the Company has not issued shares
(including sweat equity shares) to employees of the Company under any scheme;

c) As per rule 12(9) the Companies (Share Capital and Debentures) Rules, 2014, the Company has not issued equity
shares under the scheme of employee stock option;

d) No application has been made under the Insolvency and Bankruptcy Code; hence the requirement to disclose the
details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of
2016) during the year along with their status as at the end of the financial year is not applicable; and

e) There was no revision of financial statements and Board’s Report of the Company during the year under review.

f) The requirement to disclose the details of difference between amount of the valuation done at the time of onetime
settlement and the valuation done while taking loan from the Banks or Financial Institutions along with the reasons
thereof, is not applicable.

g) Since the Company has not formulated any scheme of provision of money for purchase of own shares by employees
or by trustee for the benefits of employees in terms of Section 67(3) of the Act, no disclosures are required to be
made;

h) The Company was in compliance of the applicable provisions relating to the Maternity Benefit Act 1961.

48. ACKNOWLEDGEMENT

The Directors would like to express their appreciation and thank the Government of India and concerned Government
departments and agencies for the continued help and cooperation extended by them. The Directors also gratefully
acknowledge all stakeholders of the Company viz. clients, members, vendors, banks and other business partners for the
excellent support received from them during the year and look forward to their continued support in future. The Directors
place on record their sincere appreciation to all employees of the Company for their unstinted commitment and continued
contribution to the Company

For and on behalf of the Board
Shashwat Furnishing Solutions LimitedSd/-Hitesh Karnawat

Chairman & Managing Director

DIN - 09097273

Date: August 04, 2026
Place: Jodhpur, Rajasthan