The Directors hereby present their Fifty-Third (53^rd) Annual Report on the business and operations of 3B
BlackBio Dx Limited (Formerly, Kilpest India Limited) ('the Company' or '3B BlackBio') together with the
Standalone and Consolidated Audited Financial Statements for the Year ended on 31^st March 2025.

FINANCIAL RESULTS

The Company's financial performance for the year ended 31^st March 2025 is summarized below
(Consolidated):

OVERVIEW OF COMPANY'S PERFORMANCE FOR THE YEAR 2024-25
Performance in Molecular Diagnostics

The Indian molecular diagnostics market continues to witness robust growth, driven by multiple factors. The
increasing burden of infectious diseases, cancer, and genetic disorders is driving the demand for advanced
and precise diagnostic solutions. Technological advancements in molecular platforms—such as real-time
PCR, next-generation sequencing (NGS), and digital PCR—have significantly enhanced the accuracy, speed,
and reliability of diagnostic testing.

The rising adoption of companion diagnostics is also playing a pivotal role by enabling personalized treatment
strategies based on a patient's genetic profile. Furthermore, growing investments in healthcare
infrastructure—both from government initiatives and private sector engagement—are accelerating the
development and accessibility of molecular diagnostics across the country. Government initiatives such as
Pradhan Mantri Jan Arogya Yojana (PM-JAY), the National Health Mission (NHM), and the "Make in India"
initiative have further strengthened diagnostic capabilities and expanded reach, particularly in underserved
regions.

Additionally, increasing awareness among healthcare professionals and patients regarding the benefits of
molecular diagnostics, including early detection and tailored therapies, continues to support the market's
expansion and long-term potential.

Over the past three fiscal years, our diagnostics business has demonstrated consistent and robust growth.
This upward trajectory is reflected in a strong CAGR of approximately 29.17%, highlighting the growing
market acceptance and operational excellence driving our performance.

The consolidated sales for diagnostic business have grown to ^8,428.50 Lakh in the FY 2024-25 from
^6,085.20 Lakh in the FY 2023-24 as shown in the above graph.

International Business / Exports

TRUPCR® assays have achieved widespread recognition and acceptance in over 70 countries, covering key
regions including the UK, Europe, the Middle East, APAC, LATAM, and North America (inclusive of the United
States and Canada). Building on this momentum, we are now strategically expanding into the African market
through collaborations with new channel partners. Our efforts to strengthen global reach remain ongoing,
with active onboarding of distributors across additional geographies.

We have successfully completed product registrations in several countries, while regulatory submissions are
underway in others, ensuring compliance with regional medical device frameworks. These approvals play a
critical role in enabling smoother market access and improving customer preference across diverse markets.

Our participation in international tenders—both directly and via distribution partners—has led to the award
of annual rate contracts in several countries across the Middle East, Southeast Asia, and Europe. These
contracts solidify our presence and contribute significantly to our global business value. Simultaneously, we
are engaged in high-level discussions with leading international distributors.

We are also focused on penetrating untapped markets especially South-East Asia and Africa through strategic
marketing initiatives, which are projected to deliver measurable outcomes in the coming financial year. Our
growing traction in the Middle East—reflected in a steady increase in orders from key countries—validates
the effectiveness of our market strategies and highlights the strong demand for our solutions.

Notably, our export business has shown a robust growth of over 97% (excluding COVID-related sales)
compared to the previous fiscal year. This remarkable increase is attributed to higher order volumes from
our UK subsidiary and a surge in international demand—strengthened by newly awarded contracts and
successful validations of our assays in key global accounts. These achievements emphasize the high quality
and reliability of our products and the technical excellence we consistently deliver to our global customers.
Even with high competition across markets, we are strategically positioned for a growth of 20-25% in the
international business in the FY 2025-26. We aim to leverage our established strengths, capitalize on new
opportunities to sustain our upward trajectory in the coming fiscal year.

PRESENCE OF THE COMPANY IN EVENTS & CONFERENCES
INTERNATIONAL

Our strong and expanding international presence is further reinforced through active participation in leading
global conferences, which provide valuable opportunities to present our product range, launch new products,
and connect with key stakeholders. These events are instrumental in forging partnerships and enhancing our
visibility across global markets.

Our participation in MEDLAB Middle East 2025 (February 3^rd - 6^th, Dubai) and MEDICA 2024 (November 11^th
- 14^th, Germany) was particularly impactful, enabling us to engage with potential partners from emerging
regions while deepening relationships with our current distributors. We expect the outcomes from these
engagements to reflect in our performance within the current fiscal year.

INDIA

Our participation in MICROCON Pune 2024 (Nov 21^st - 24^th) was a great success, with excellent customer
feedback validating our products in pathology and microbiology. This strengthens our brand and fosters
deeper engagement with key stakeholders. Additionally, we participated in UP-UK MICROCON 2024, held at
LLRM Medical College, Meerut during February 14^th & 15^th which was a great success as we had with excellent
customer feedback validating our products in pathology and microbiology. This strengthens our brand and
fosters deeper engagement with key stakeholders.

Our sales, marketing, and application teams have been collaborating to organize a series of workshops for
both existing users of our kits and prospective clients. These workshops aim to provide valuable insights into
the usage and benefits of our products, facilitating enhanced understanding and utilization among
participants.

PERFORMANCE IN THE AGROCHEMICALS DIVISION

The agrochemicals division reported sales of ^1,218.61 Lakh in FY 2024-25, compared to ^1,368.51 Lakh in
FY 2023-24. The decline in sales in primarily due to a one-time export order worth approximately ^158.48
lakh executed in FY 2023-24 for Sudan under a tender-based procurement, which was not repeated. This was
previously disclosed in the business update dated 10^th January 2024.

Despite this, the division continues to demonstrate a strong commitment to government procurement,
primarily through participation in electronic tenders via platforms such as GeM.

The agrochemicals business remains virtually debt-free, in line with previous projections, and maintains
overall sales stability. Concurrently, the company is accelerating initiatives to build stronger brand visibility
across its product lines in micro fertilizers, bio fertilizers, and public health segments.

PERFORMANCE OF THE UK SUBSIDIARY

Our UK subsidiary, TRUPCR® Europe Limited (TPE), has become a strategic growth contributor, gaining
significant traction across Europe with its "Made in UK" product portfolio. The Manchester facility-
integrating sales, marketing, technical support, and R&D-has enabled proactive response and efficient
service delivery. Enhanced by EU-compliant branding and streamlined logistics, TPE has successfully
expanded into LATAM and African markets.

The site's ISO 13485:2016 certification by BSI, UK reaffirms our commitment to quality and regulatory
standards, bolstering customer confidence and facilitating broader market access. In FY 2024-25, TPE
delivered a notable increase in sales over FY 2023-24, aligning well with expectations.

With revenue growth surpassing 90% in FY 2024-25, our UK operations clearly reflect the effectiveness of
our strategic investments. We project continued growth of 20-25% in the current fiscal year, positioning the
subsidiary as a central pillar in our global expansion efforts.

...... Ý.........

Presence of the UK subsidiary in International Conferences

TRUPCR® Europe has been participating in international molecular diagnostic conferences and organizing
training sessions and seminars for customers to showcase expertise, build relationships within the industry,
and educate customers about its products and services.

Participation in key industry events such as ESHG, ACGS, and Medica has significantly boosted TRUPCR®
Europe's profile, attracting interest from potential distributors and OEM partners. These interactions have
opened new commercial avenues and strengthened the brand's standing in molecular diagnostics.

The UK subsidiary continues to play a vital role in building international trust through lab validations and
consistent product performance. With an active marketing team and strong follow-up on leads from
exhibitions, the Manchester site is well-placed for accelerated growth in the current fiscal year. Ongoing
engagement with EU distributors further supports our strategy to deepen market presence across Europe.

RAPID KIT VERTICAL (LATERAL FLOW TECHNOLOGY)

The Rapid Kit manufacturing facility is now fully operational, and R&D efforts are underway to optimize
additional products with strong market potential beyond the current range. With regulatory approvals from
CDSCO, Government of India, for the existing TRURAPID® product line, we plan to expand the portfolio
progressively as new products are finalized by the R&D team.

The company has added some novel products in Rapid Kit vertical for detection of Antimicrobial Resistance
(AMR) genes. As per WHO, AMR remains one of the top 10 global public health threats facing humanity,
associated with the deaths of 4.95 million people in 2019.

AMR is also a threat to the global economy, with impact on international trade, heath care costs and
productivity predicted. If no action is taken, AMR would cost the world's economy USD 100 trillion by 2050.

We are pleased to inform that we have successfully completed the collaborative R&D of the Rapid Tests for
Anti-Microbial Resistance (AMR). The below assays have been launched to cater to the AMR segment:

• TRURAPID® RESIST-5 OKNVI Rapid Test (For Resistance in Carbapenems)

• TRURAPID® RESIST ACINETO Rapid Test (For Resistance in Carbapenems in Acinetobacter spp.)

• TRURAPID® RESIST CTX-M Rapid Test (For Resistance in Cephalosporins)

NEXT-GEN SEQUENCING (NGS) VERTICAL

We have started getting some traction for the TRUNGS® assays from the customers however, it is very low.
The NGS market is at a very nascent stage and is dominated by Whole Genome Sequencing, Whole Exome
Sequencing, NIPT etc. TRUNGS® is focussed on very niche products in this segment, hence, it will be difficult
to quantify and forecast the benefits at this point.

With the TRUNGS® vertical, we are keeping ourselves technologically viable so that we can offer all the
molecular diagnostics solutions to our customers under one roof.

We had launched the "TRUNGS® Solid Tumor Panel" for detection genes associated with solid tumors such
as lung, gastro-intestinal/colorectal, breast, liver and ovarian tumors.

Now, after extensive R&D efforts we will be launching below products commercially:

• PAN-MYELOID NGS Panel - A comprehensive NGS solution for detection of variants in 65 genes in
myeloid malignancies.

• BRCA Plus Kit - For detection of germline / somatic mutations associated with breast, ovarian and
prostate cancers.

• Endometrial Cancer Panel Kit - For detection of mutations in certain genes associated with diagnosis
and treatment of endometrial cancer as per WHO guidelines.

DIGITAL PCR (NEW R&D)

Our Research and Development (R&D) team is committed to the ongoing development of innovative
products leveraging cutting-edge technologies. Through our dedication to scientific advancement and
technological innovation, we strive to address emerging challenges and meet the evolving needs of our
customers and stakeholders.

Through our relentless pursuit of excellence, we endeavor to bring to market new products that not only
meet but exceed industry standards for quality, performance, and reliability.

Continuing our journey for R&D, our team has been working on the development of assays based on Digital
PCR (dPCR) technology which enables absolute quantification of target nucleic acids. We are hopeful that the
products under this segment will be available for commercial launch by Q2 / Q3 of FY 2025-26.

By leveraging the capabilities of dPCR technology, our R&D team has the opportunity to develop innovative
assays that address key challenges in healthcare & biotechnology. This could lead to the development of
valuable diagnostic tools with significant impact on disease detection, treatment monitoring, and research
advancements.

SUMMARY

The company has delivered strong performance in terms of both revenue and profitability. Looking ahead,
the molecular diagnostics segment is well-positioned for continued growth, supported by ongoing R&D,
expansion into new global markets, and a growing customer base. Your company's products are well-

regarded in the industry, earning trust from prominent laboratories and standing on par with international
brands in terms of quality and reliability.

PUBLIC DEPOSITS

The Company has not accepted any deposits from the public during the year under review. No amount on
account of principal or interest on deposits from the public was outstanding as on 31^st March 2025.

MERGERS & ACQUISITIONS

During the last 2 years, we have evaluated several companies in the IVD space, however, the valuations were
high due to demand from diagnostic companies based on Covid profits Also, the Sales EBITDA were not
matching our IRR or future growth possibility, hence we did not proceed.

However, now with acquisition of Coris BioConcept SRL, Belgium, we have been able to do the first acquisition
after a long search negotiation We will continue to do more acquisitions to best utilize the available funds.
We will also be deploying some funds in the joint venture created in Manchester, UK depending on the need.

Acquisition of 100% Stake in Coris Holding SRL, Belgium

The company - 3B along with its UK subsidiary-TPE is pleased to announce that it has entered into a definitive
agreement with Avacta Group Plc, London to acquire all the shares of Coris Holding SRL, the parent company
of Coris Bioconcept SRL ("Coris"), a 30 years old manufacturer of Rapid Diagnostic Solutions for an upfront
cash consideration of £2.15 Million (including net cash & customary working capital adjustments) with an
earn-out based on future business performance of up to £0.615 Million payable (the "Acquisition") totaling
to £2.765 Million.

Financials of Coris:

According to the latest unaudited financial results shared by Coris, the company reported unaudited revenue
of €5.22 Million for the financial year ended 31^st December 2024 ("FY24"), primarily driven by sales from non-
COVID products. The company achieved a gross margin of approximately 58.7%. However, Coris recorded a
negative EBITDA of €0.215 Million its net assets stood at €4.14 Million.

With efforts to launch new products, enter new territories and introduce better cost management, we expect
to be EBITDA positive in FY 2026-27 as these efforts will take some time to materialize.

Product Portfolio:

Coris' product portfolio comprises in vitro diagnostic test kits for AntiMicrobial Resistance (AMR), respiratory,
gastroenteric and blood-borne pathogens (bacteria, viruses and parasites), however, it is primarily focused
on the antibiotic resistance markers. As part of this portfolio, the company offers a range of rapid lateral flow
tests (LFT) designed to support early & accurate diagnosis at the point of care. Coris also offers an LFT -'HAT
Sero K-SeT' for detecting antibodies specific to Trypanosoma brucei gambiense (a parasite that causes Human
African Trypanosomiasis (HAT), also known as African sleeping sickness), a product that holds global
monopoly.

Quality Certifications:

Coris is ISO 13485 certified, ensuring the highest standards of quality and regulatory compliance across its
operations.

Team & Facility:

Coris employs a dedicated team of 33 professionals across key functions including R&D, Production, Sales,
Marketing, Quality Control, Regulatory Affairs, & Administration. The company operates from a new 2,000

m² facility in Gembloux, Belgium, which houses its R&D and production units, corporate offices, and
warehouse.

Acquisition of Coris BioConcept SRL is a strategically thought move that strengthens our position in the IVD
segment and our fight against AMR. The product portfolio of Coris complements our existing molecular
diagnostics product range.

By combining our expertise in the PCR-based solutions and with Coris' innovation in rapid testing, the
company is accelerating its vision of faster, accessible, and more accurate diagnostics worldwide.

Product Market and Customer / Distributor Expansion:

Since the customers / end-users are similar and overlapping, we will try to push each other's products in the
markets where there are visible gaps. So PCR Kits will be pushed in the Coris's distributor / customer network
and Rapid AMR will be pushed in the 3B / TPE's distributor / customer network.

Joint R&D Efforts:

Since both the companies have got well established R&D, so we will try to do collaborative R&D efforts in
both PCR and Rapid Diagnostics segments.

DIVIDEND

Based on the Company's performance, the Board of Directors of the Company is pleased to recommend a
final dividend of 40%, ^4/- i.e., per equity share of face value of ^1/- each for the FY 2024-25. The dividend
payout is subject to approval of members at the ensuing Annual General Meeting.

The dividend, once approved by the Shareholders, will be paid, subject to deduction of tax at source, on or
after Tuesday, 30^th September 2025. The Company has fixed Wednesday, 19^th September 2025 as the 'Record
Date' for determining entitlement of members to final dividend for the financial year ended 31^st March 2025,
if approved at the AGM.

TRANSFER TO RESERVES

The balance of Profit and Loss Account after adjusting income tax and proposed dividend to be transferred
to Reserves and Surplus in Balance Sheet.

EXPANSION

During the year, no major expansion undertaken by the Company. Normal capital expenditure is being done
continuously for technical and operational up gradations of production facilities of the Company.

CREDIT RATINGS

The Company requested "Care Ratings Ltd" to withdraw its external rating assigned to the bank facilities of
the company, which saves cost to the company. A letter to this effect has been received by the company on
14^th March 2019, issued by CARE Ratings Ltd. Company continues to utilize the bank credit facilities as a
valued customer and the withdrawal was suo-moto initiated due to non-requirement by bank, as stated
above and cost saving reasons.

CHANGES IN THE NATURE OF BUSINESS, IF ANY

There was no change in the nature of business of the Company during the financial year ended 31^st March
2025. Further there have been no material changes and commitments, if any affecting financial position of
the Company from financial year end and till the date of this report.

CURRENT LISTING

Presently, the Equity Shares of the company are listed on the Bombay Stock Exchange Ltd, Mumbai.

SHARE CAPITAL

The Paid-up Equity Share Capital of the Company as on 31^st March 2025 was ^8,56,83,700/- (Rupees Eight
Crore Fifty-Six Lakh Eighty-Three Thousand Seven Hundred only), comprising of 85,68,370 (Eighty-Five Lakh
Sixty-Eight Thousand Three Hundred and Seventy) Equity Shares of Face Value of ^10/- (Rupees Ten Only)
each.

The Company has not issued shares with differential voting rights. It has neither issued employee stock
options nor sweat equity shares and does not have any scheme to fund its employees to purchase the shares
of the Company.

The shares are actively traded on BSE and have not been suspended from trading.

DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)

Mrs. Mithla Dubey (DIN: 03597415), is a Non-Executive Director of the Company aged 78 years is liable to
retire by rotation at the ensuing Annual General Meeting pursuant to Section 152 of the Companies Act,
2013. Being eligible, she has offered herself for re-appointment.

Pursuant to Regulation 17(1A) of SEBI (LODR) Regulations, 2015, no listed company shall appoint or continue
the directorship of a Non-Executive Director who has attained the age of 75 years unless approved by
Members by way of a Special Resolution.

The Board is of the opinion that Mrs. Mithla Dubey's rich and diverse experience is a valuable asset to the
Company which adds value and enriched point of view during Board discussions and decision making. She is
also a person of integrity who possesses required expertise and her association as Non-Executive Director
will be beneficial to the Company.

The Board of Directors, on the recommendation of the Nomination and Remuneration Committee, has
proposed the re-appointment of Mrs. Mithla Dubey (DIN: 03597415), who retires by rotation at the ensuing
Annual General Meeting and being eligible, has offered herself for re-appointment.

Mrs. Mithla Dubey (DIN: 03597415) is seventy-eight (78) years of age, hence approval by way of Special
Resolution is placed before the shareholders. She has been effectively performing her duties and providing
valuable guidance to the Company in key strategic matters from time to time.

The Nomination and Remuneration Committee and the Board of Directors have, therefore, recommended
the re-appointment of Mrs. Mithla Dubey's as a Non-Executive Director of the Company, liable to
retire by rotation and subject to the approval of members of the company.

Re-appointment

The term of office of Mr. Dhirendra Dubey will expire on 29^th November 2025. The Board of Directors upon
the recommendation of Nomination and Remuneration committee and Audit Committee, in its meeting held
on 14^th August 2025 and subject to the approval of members of the Company have approved the re¬
appointment of Mr. Dhirendra Dubey as Chairman cum Managing Director of the Company for a period of
five years with effect from 30^th November 2025 to 29^th November 2030.

Mr. Dhirendra Dubey (DIN: 01493040) aged 58 years, is looking after the Marketing, R&D, Administration
and procurement. He has been associated with the Company since 1995 as Promoter Director. Spanning
more than 30 years' experience, He has hands -on wide experience in Biotechnology & Molecular Diagnostic
industry in Marketing, R&D and Day to Day business running. He devotes whole time attention to the
management of the commercial affairs of the company. He is responsible for the day to day administration
of the company and carries out his duties as entrusted to him from time to time by the Board of Directors.
Under his guidance, the company has witnessed remarkable growth and expansion. He has been
instrumental in driving the company's growth. He has also been instrumental for founding 3B BlackBio,
Diagnostic Division and its growth. Therefore, the board considers that his continued association would be
of immense benefit to the company.

Appointment

To fill the vacancy caused by Mr. Rajesh Dubey's (DIN: 10738590) demise, the Board of Directors, at its
meeting held on 14^th August 2025, based on the recommendation of Nomination and Remuneration
Committee, appointed Mr. Vivek Saihgal (DIN: 11228713) as an Additional Director (in the capacity of
Independent Director) of the Company, with effect from 14^th August 2025, for a term of five consecutive
years, i.e., upto 13^th August 2030, under Sections 149, 150 and 152 of the Act and the Rules framed
thereunder, subject to approval of the Members of the Company at the ensuing annual general meeting. His
appointment is proposed to be regularized at the ensuing Annual General Meeting.

Consequent to his appointment, Mr. Vivek Saihgal (DIN: 11228713) has also been inducted as a Member of
the Nomination and Remuneration Committee and Chairman of the CSR Committee of the Company with
effect from 14^th August 2025.

Cessation

The directors express their profound grief over the sad demise of Mr. Rajesh Dubey (DIN: 10738590), Non¬
executive Independent director of the Company, who passed away on 13^th July 2025. The Board places on
record its heartfelt gratitude for his notable contributions to the Company. Consequent to his sudden demise,
he ceased to be a member of Nomination and Remuneration Committee and chairman of Corporate Social
Responsibility committee of the board.

Mr. Shabbar Hussain (DIN:02423696) ceased to be the Director of the Company on completion of his term as
an Independent Director on 29^th September 2024.

None of the Company's directors are disqualified from being appointed as a director under the provisions of
the Act. For details about the directors, please refer to the Corporate Governance Report.

During the year under review, the non-executive directors of the Company had no pecuniary relationship or
transactions with the Company, other than sitting fees as approved by the Audit Committee or the Board
which are disclosed under the Notes to Accounts.

Independent Directors

Independent Directors have given declarations that they meet the criteria of independence as prescribed
under the provisions of the Companies Act, 2013 read with schedules and rules issued as well as SEBI Listing
Regulations. In the opinion of the Board, they fulfill the conditions of independence as specified in the Act
and the Rules made thereunder and are independent of the management. They have confirmed that they
are not aware of any circumstance or situation, which exists or may be reasonably anticipated, that could
impair or impact their ability to discharge their duties with an objective independent judgement and without
any external influence. The Board of Directors of the Company has taken on record the declaration and
confirmation submitted by the Independent Directors after undertaking due assessment of the veracity of

the same. Further, in the opinion of the Board, the Independent Directors fulfill the conditions prescribed
under the SEBI Listing Regulations and are competent, experienced, and proficient and possess necessary
expertise and integrity to discharge their duties and functions as Independent Directors and are independent
of the management of the Company. There has been no change in the circumstances affecting their status
as Independent Directors of the Company and that they hold highest standards of integrity.

The Independent Directors of the Company have confirmed that they have enrolled themselves in the
Independent Directors' Databank maintained with the Indian Institute of Corporate Affairs ('IICA') in terms
of Section 150 of the Act read with Rule 6 of the Companies (Appointment & Qualification of Directors) Rules,
2014, as amended.

Details of Familiarisation Programme for the Independent Directors are provided separately in the Corporate
Governance Report.

During the year there was no change in the Key Managerial Personnel of the Company.

In terms of the Section 203 of the Companies Act, 2013, the following are the Key Managerial Personnel of
the Company as on the date of this report.

1. Mr. Dhirendra Dubey; Chairman & Managing Director

2. Mr. Nikhil Kuber Dubey; CFO & Whole Time Director

3. Mrs. Navneet Kaur - Company Secretary

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis forms an integral part of this report and gives details of the overall
industry structure, economic developments, performance and state of affairs of your company, risk
management systems and other material developments during the Financial Year 2024-25.

Management Discussion and Analysis Report for the year 2024-25, is presented in a separate section forming
part of Annual Report.

CORPORATE GOVERNANCE REPORT

The Company is committed to maximise the value for its stakeholders by adopting the principles of good
Corporate Governance in line with the provisions of law and particularly those stipulated in the SEBI Listing
Regulations.Your Company continues to be committed to good Corporate Governance aligned with good
practices. A separate report on Corporate Governance along with Auditors' Certificate forms an integral part
of this Annual Report.

INTERNAL FINANCIAL CONTROLS

The Directors have laid down internal financial controls to be followed by the Company for ensuring the
orderly and efficient conduct of its business, including adherence to Company's policies, the safeguarding of
its assets, the prevention and detection of frauds and errors, the accuracy and the completeness of the
accounting records and the timely preparation of reliable financial information. These controls also help in
the timely preparation of transparent, complete and accurate financial information and statements as per
the stipulated accounting standards and principles. During the year, such controls were tested and no
reportable material weaknesses in the design or operation were observed.

DIFFERENCE IN VALUATION

The Company has not made any one-time settlement for loans taken from the Banks or Financial Institutions,
and hence 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 is not applicable.

RISK MANAGEMENT

Effective risk management is one of the pillars of our corporate governance framework. The Company has a
well-defined risk management framework in place to identify, evaluate, and monitor business risks and
challenges across the Company as well as to identify new and emergent risks. By implementing a risk
management framework, we ensure that we are well-equipped to adapt to changing circumstances and
allocate resources effectively. The company's success as an organization largely depends on its ability to
identify opportunities and leverage them while mitigating the risks that arise while conducting its business.
Your Directors continually evaluate the risks faced by the Company which could affect its business operations
or threaten its existence. The Company takes appropriate risk containment measures and manages the same
on an ongoing basis. Your Company has a Risk Management Policy in place and is available on the Company's
website at https://www.kilpest.com.

WHISTLE BLOWER POLICY/VIGIL MECHANISM

The Company has a Vigil Mechanism/Whistle Blower Policy under which the employees are free to report
violations of applicable laws and regulations and the code of conduct. The Policy on vigil mechanism/whistle
blower policy may be accessed on Company's website www.kilpest.com.The details pertaining to Whistle
Blower Policy are included in the Corporate Governance Report, which forms part of this report.

PERFORMANCE AND FINANCIAL POSITION OF EACH OF THE SUBSIDIARIES, ASSOCIATES AND JOINT
VENTURE COMPANIES

The Consolidated Financial Statements of the Company and its subsidiary is prepared in accordance with
Indian Accounting Standards notified under the Companies (Indian Accounting Standards) Rules, 2015 ('Ind
AS'). The Audited Consolidated Financial Statements together with the Auditor's Report thereon forms part
of this Annual Report.

The consolidated financial results reflect the operations of its subsidiary: M/s TRUPCR EUROPE Limited,
prepared forms part of the Annual Report.

The Company has adopted a Policy for determining Material Subsidiaries in terms of Regulation 16(1)(c) of
the SEBI Listing Regulations. The Policy, as approved by the Board, is uploaded on the Company's website i.e.
www.kilpest.com

The audited financial statements, together with related information and other reports of the subsidiary
company are available on the Company's website at www.kilpest.com. The audited financial statements of
these entities will be available for inspection during business hours at the Registered Office of the Company.

The Company does not have any associate or joint venture companies. The statement pursuant to the
provisions to Section 129(3) of the Companies Act 2013, containing salient features of the financial statement
of the Company's Subsidiary in Form AOC1 is given in Annexure - III.

ANNUAL EVALUATION OF BOARD PERFORMANCE AND PERFORMANCE OF ITS COMMITTEES AND OF
DIRECTORS

In terms of applicable provisions of the Companies Act, 2013 read with Rules framed there under and
provisions of SEBI Listing Regulations and on the recommendation of Nomination and Remuneration
Committee, the Board of Directors has put in place a process to formally evaluate the effectiveness of the
Board, its Committees along with performance evaluation of each Director carried out on an annual basis.
Accordingly, the annual performance of the Board, its committees and each Director was carried out for the
Financial Year 2024-25.

The Independent Directors at their separate meeting held on 11^th February 2025 have reviewed the
performance of non-independent directors, Chairman and Board as a whole along with review of quality,
quantity and timeliness of flow of information between Board and management and expressed their
satisfaction over the same. Further the Board, in its meeting held on 19^th March 2025 also reviewed the
performance of the Board, its committees and all Individual Directors of the Company and expressed its
satisfaction over the performance of the Board, its Committees and individual Directors. Furthermore, Board
is of the opinion that Independent directors of the Company are persons of high repute, integrity & possess
the relevant expertise & experience in their respective fields.

The criteria for performance evaluation of the Board included aspects such as Board composition and
structure, effectiveness of Board processes, contribution in the long-term strategic planning, etc.Criteria for
evaluation of individual Directors including that of Independent Directors include aspects such as
professional qualifications, prior experience, especially experience relevant to the Company, knowledge and
competency, fulfillment of functions, ability to function as a team, initiative, availability and attendance,
commitment, contribution, integrity, independence and guidance/ support to management outside Board/
Committee Meetings. In addition, the Chairman is also evaluated on key aspects of his role, including
effectiveness of leadership and ability to steer meetings, impartiality, ability to keep shareholders' interests
in mind and effectiveness as Chairman.

Criteria for evaluation of the Committees of the Board include mandate and composition; effectiveness of
the Committee; structure of the Committee; regularity and frequency of meetings, agenda, discussion and
dissent, recording of minutes and dissemination of information; independence of the Committee from the
Board; contribution to decisions of the Board; effectiveness of meetings and quality of relationship of the
Committee with the Board and management.

EMPLOYEE STOCK OPTION SCHEME

At present, the Company is not having any Employee Stock Option Scheme.

STATUTORY AUDITORS

At the 50^th AGM of the Company held on 22^nd September 2022, pursuant to the provisions of the Act and the
Rules made thereunder, M/S Baheti & Co., Chartered Accountants (Firm Registration No. 006287C), were re¬
appointed as Statutory Auditors of the Company for a second term of five (5) consecutive years i.e. from the
conclusion of the 50^th AGM till the conclusion of the 55^th AGM to be held in the year 2027.

The Audit Report of M/S Baheti & Co on the Financial Statements of the Company for FY 2024-25 forms part
of this Annual Report. The Report does not contain any qualification, reservation, adverse remark or
disclaimer.

AUDITORS' REPORT

The Report given by the Auditors on the financial statements of the Company is part of the Annual Report.
The Auditor's Report for the financial year ended 31^st March 2025 does not contain any qualification,
reservation or adverse remark.

COST AUDITORS/COST RECORD

The Company is required to maintain cost records as specified by the Central Government as per Section
148(1) of the Act and the rules framed thereunder and accordingly, the Company has made and maintained
such cost accounts and records.

In terms of Section 148 of the Act read with the Companies (Cost Records and Audit) Rules, 2014, based on
the recommendations of the Audit Committee, the Board of Directors have re-appointed Sanjay Kasliwal &
Associates, Cost Accountants & Social Auditor (Firm Registration No. 100888), being eligible, to conduct Cost
Audit relating to the business of the Company for the year ending 31^st March 2026.Whereas Cost Audit Report
for the Financial Year 2024-25 will be submitted to the Ministry of Corporate Affairs within prescribed time.

Sanjay Kasliwal & Associates, have confirmed that they are free from disqualification specified under Section
141(3) and proviso to Section 148(3) read with Section 141(4) of the Act and that their appointment meets
the requirements of Section 141(3)(g) of the Act. They have further confirmed their independent status and
an arm's length relationship with the Company.

The remuneration payable to the Cost Auditors is required to be placed before the Members in a General
meeting for their ratification. Accordingly, a resolution for seeking Members' ratification for the
remuneration payable to Sanjay Kasliwal & Associates is included in the Notice of the 53^rd AGM forming part
of this Annual Report.

SECRETARIAL AUDITOR AND SECRETARIAL AUDIT REPORT:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors of the Company had appointed
M/s P.K. Rai & Associates, Practicing Company Secretary to undertake the Secretarial Audit of the Company
for the year ended 31^st March 2025.The Secretarial Audit Report for the Financial Year ended 31^st March 2025
is annexed as Annexure IV and does not contain any qualification, reservation, adverse remark or disclaimer.

As per amended SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in addition to the
above mentioned Secretarial Audit Report, listed company is also required to obtain an Annual Secretarial
Compliance Report from a Practicing Company Secretary w.r.t the compliances of all applicable SEBI
Regulations, amendments, circulars or guidelines etc. by the Company. Accordingly, the same has been
obtained and filed with the concerned Stock Exchanges.

In accordance with the SEBI Listing Regulations, the Board of the Company have appointed. Mr. Praveen
Kumar Rai of P.K. Rai & Associates, Practicing Company Secretary (C.P.No.: 3779), Bhopal, Peer reviewed, as
the Secretarial Auditors of the Company for conducting Secretarial Audit and issue the Secretarial Audit
Report for a term of consecutive five (5) years from Financial Year 1^st April 2025 to 31^st March 2030, subject
to the approval of the Members of the Company at the ensuing Annual General Meeting.

INTERNAL AUDITORS

Pursuant to the provisions of Section 138 of the Companies Act, 2013 and the Companies (Accounts) Rules,
2014, the Board of Directors of the Company had appointed M/s Ali Jain and Sharma, Chartered Accountants,
to conduct internal audit for the Company for FY 2024-25

REPORTING OF FRAUDS BY AUDITORS

During the year under review, the Statutory Auditors and Secretarial Auditors have not reported any
instances of frauds committed in the Company by its Officers or Employees, to the Audit Committee under
Section 143(12) of the Companies Act, 2013, details of which needs to be mentioned in this Report.

INDIAN ACCOUNTING STANDARDS (IND AS)

The Financial Statements have been prepared in accordance with Indian Accounting Standards ('Ind AS') as
per the Companies (Indian Accounting Standards) Rules, 2015 notified under Section 133 and other relevant
provisions of the Act.

SECRETARIAL STANDARDS OF ICSI

Your company has complied with applicable Secretarial Standards issued by the Institute of Company
Secretaries of India, during the financial year under report.

TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND

a) Transfer of unclaimed dividend

i) Pursuant to the provisions of Section 124 of the Act, read with the Investor Education and Protection
Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 ('IEPF Rules') including any
statutory modification(s) or re-enactment(s) thereof for the time being in force, dividend for the
financial year ended 31^st March 2018 and onwards, which remains unpaid or unclaimed for a period
of seven (7) years from the date of its transfer to the unpaid dividend account of the Company would
be transferred to IEPF within a period of 30 days after expiry of the 7 year period.

ii) Members whose Dividend remains unclaimed/unpaid for the above years are advised to submit their
claim to the Company's RTA at their address, quoting their folio number/DP ID and Client ID.

Members are informed that the unclaimed dividend for the financial year 31^st March 2018 shall be
transferred to the IEPF within a period of 30 days from the due date of transfer. The reminder letters have
already been sent separately to all such Members at their registered address in this regard.

Further, Members who have not encashed /claimed their dividends in the last seven (7) consecutive years
from 2017-18 are being notified to claim the same before the cut-off date as mentioned in the reminder
letter. In case valid claim is not received by that date, the Company will proceed to transfer the respective
shares to the IEPF Authority in terms of the IEPF Rules.

b) Transfer of shares to IEPF

In terms of Section 124 of the Companies Act, 2013, shares on which dividend remains unpaid or unclaimed
for a period of seven consecutive years or more shall be credited to the Demat Account of Investor Education
and Protection Fund Authority (IEPFA). Upon transfer of such shares, all benefits, if any, accruing on such
shares shall also be credited to such Demat Account and the voting rights on such shares shall remain frozen
till the rightful owner claims the shares.

The details of unpaid dividend(s) along with its due dates for transfer to IEPF Is provided under the Corporate
Governance report annexed with the Annual Report.

Adhering to the various requirements set out in the IEPF Rules, as amended, the Company has, during
financial year 2024-25, transferred to the IEPF Authority all shares for the Financial Year 2016-17 in respect
of which dividend had remained unpaid or unclaimed for seven consecutive years or more. The said details
have also been uploaded on the website of the IEPF Authority.

c) Claim from IEPF Authority

Members/Claimants whose dividend remained unclaimed/unpaid has been transferred to the IEPF Fund, he
may apply for refund by making an application to the IEPF Authority in e-Form IEPF- 5 (available on
www.iepf.gov.in) along with requisite fee as decided by the IEPF Authority from time to time and sending
duly signed physical copy of the same to the Company along with requisite documents as prescribed in the
instruction kit of e-Form IEPF-5. No claim shall lie against the Company in respect of the dividend so
transferred.

d) Details of unclaimed dividend on the website

Pursuant to provisions of Investor Education and Protection Fund (Uploading of Information regarding unpaid
and unclaimed amounts lying with Companies) Rules, 2012, the Company has uploaded details of unpaid and
unclaimed amounts upto 31^st March 2024 lying as on 24^th September 2024 (date of last Annual General
Meeting) on website of the Company, as also with Ministry of Corporate Affairs

HUMAN RESOURCE MANAGEMENT

Our Employees are most valuable assets of the Company. We encourage innovation, meritocracy and the
pursuit of excellence. We have setup a scalable recruitment and human resources management process,
which enables us to attract and retain employees. Cordial employee relations were maintained throughout
the year in the Company. The directors express their appreciation for the contribution made by employees
to operations of the Company during the year.

DISCLOSURE RELATING TO REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL AND
PARTICULAR OF EMPLOYEES

The remuneration paid to the Directors is in accordance with the Nomination and Remuneration Policy
formulated in accordance with Section 178 of the Companies Act, 2013.

The information required pursuant to Section 197 read with rule 5 of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules 2014, in respect of the Directors/employees of the Company
is set out in Annexure-VI to this report.

During the year under review, the Board, on the recommendation of the Nomination & Remuneration
Committee and Audit Committee, subject to the approval of the Board of Directors of the Company and
subject to approval of the shareholders at the ensuing AGM, revised the remuneration of Mr. Nikhil Kuber
Dubey, Whole-time Director & CFO, and Mr. Dhirendra Dubey, Chairman & Managing Director, with effect
from 1^st April 2025. The details of such revision are provided in the Notice of AGM.

Pursuant to the provisions of Section 136(1) of the Act and as advised, the statement containing particulars
of employees as required under Section 197(12) of the Act read with Rule 5(2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, will be available for inspection at the
Registered Office of the Company during working hours and Members interested in obtaining a copy of the
same may write to the Company Secretary and the same will be furnished on request. Hence, the Annual
Report is being sent to the Members excluding the aforesaid information.

AUDIT COMMITTEE

The composition, functions and details of the meetings of the Audit Committee held during the year, are
included in the Corporate Governance Report, which forms part of this report.

There have been no instances during the year when recommendations of the Audit Committee were not
accepted by the Board.

NOMINATION AND REMUNERATION COMMITTEE

The Nomination and Remuneration Committee comprises of directors namely Mr. Harihar Prasad Thapak,
Mrs. Mithla Dubey and Mr. Rajesh Dubey.

Shri Rajesh Dubey, Non-Executive Independent Director, Member of the NRC Committee of the company,
passed away on 13^th July 2025. During his tenure as Independent Director on the Board, the Company has
immensely benefited from his thorough knowledge, rich experience as Board and Committee member. His
unexpected demise is an irreparable loss to the Company

To fill the vacancy, the Board appointed Mr. Vivek Saihgal (DIN: 11228713) as an Additional Director (in the
capacity of Independent Director) of the Company with effect from 14^th August 2025, whose appointment is
proposed for regularization at the forthcoming AGM on 26^th September 2025.

Consequent to his appointment, Mr. Vivek Saihgal (DIN: 11228713) has been inducted as a Member of the
NRC with effect from 14^th August 2025.

The NRC is also responsible for reviewing the profile of potential candidate's vis-a-vis the required
competencies and meeting potential candidates, prior to making recommendations of their nomination to
the Board.

The NRC is also responsible for developing competency requirements for the Board based on the industry
and strategy of the Company. The NRC reviews and evaluates the profiles of potential candidates for
appointment of Directors and meets them prior to making recommendations of their nomination to the
Board. At the time of appointment, specific requirements for the position including expert knowledge
expected are communicated to the appointee.

The Board has also reviewed the list of core skills, expertise and competencies of the Board of Directors as
are required in the context of the businesses and sectors applicable to the Company which were mapped
with each of the Directors on the Board. The same is disclosed in the Corporate Governance Report forming
part of this Annual Report.

On the recommendation of the NRC, the Board has adopted and framed a Remuneration Policy.

The Company's Policy relating to appointment of Directors, payment of Managerial Remuneration, Directors'
qualifications, positive attributes, independence of Directors and other related matters as provided under
Section 178(3) of the Companies Act, 2013 is furnished as Annexure II and forms part of this Report.

CORPORATE SOCIAL RESPONSIBILITY

The Company's CSR philosophy is based on the belief that a successful business can develop only by creating
a prosperous society around. Reaching out to deprived communities is part of the Company's vision and its
CSR initiatives aim at supplementing governments' endeavors to help the citizens in the vicinity to achieve
better living standards and good quality of life. The Company has been engaging with civil society, public at
large through dissemination of its CSR initiatives.

The Company has constituted a CSR Committee of the Board in accordance with the provisions of Section
135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014.

The details pertaining to composition of CSR committee are included in the Corporate Governance port,
which forms part of this report

There have been no instances during the year when recommendations of the CSR Committee were not
accepted by the Board.

Corporate Social Responsibility Policy:

The Company has adopted a Corporate Social Responsibility Policy as required under section 135 of the
Companies Act, 2013 for the activities covered under Schedule VII of the Act. The CSR Policy may be accessed
on the Company's website at the link: http:// www.kilpest.com. The brief outline of the CSR policy, overview
of the activities undertaken with amounts spent/unspent thereon during the year, reason for unspent CSR
thereof and composition of the Committee has been disclosed in Annexure I.

RELATED PARTY TRANSACTIONS

Your Company has historically adopted the practice of undertaking related party transactions only in the
ordinary and normal course of business and at arm's length as part of its philosophy of adhering to highest
ethical standards, transparency, and accountability.

The Company has formulated a Policy on Related Party Transactions in accordance with the Act and the SEBI
Listing Regulations including any amendments thereto for identifying, reviewing, approving and monitoring
of Related Party Transactions ('RPTs'). During the year under review, the RPT Policy was amended and the
said Policy is available on the Company's website at https://www.Kilpest.com.

All RPTs are presented to the Audit Committee for review and approval. All related party transactions that
were entered with your Company, during the financial year were on arm's length basis and were in the
ordinary course of the business. In terms of the Act, there were no materially significant related party
transactions entered into by your Company with its Promoters, Directors and Key Managerial Personnel, or
other designated persons, which may have a potential conflict with the interest of your Company at large,
except as stated in the Financial Statements. Accordingly, the disclosure of RPTs as required under Section
134(3)(h) of the Act in Form No. AOC-2 is not applicable to the Company for FY 2024-25 and hence does not
form part of this Annual Report.

In terms of Regulation 23 of the SEBI Listing Regulations, the Company submits details of RPTs as per the
prescribed format to the stock exchanges on a half-yearly basis.

MEETINGS OF THE BOARD

Regular meetings of the Board are conducted to discuss and approve various strategies, policies, financial
matters and such other businesses.

Eighteen meetings of the Board of Directors were held during the year. For further details, please refer to
report on Corporate Governance of this Annual Report.

Details of the composition of the Board and its Committees and of the Meetings held and attendance of the
Directors at such Meetings, are provided in the Corporate Governance Report. The intervening gap between
the Meetings was within the period prescribed under the Act and the Listing Regulations.

Further a separate meeting of the Independent Directors of the Company was also held on 11^th February
2025.

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

A statement giving details of Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and
Outgo, as stipulated under Section 134 of the Companies Act, 2013 read with the Companies (Accounts)
Rules, 2014, is set out herewith as Annexure V to this Report.

ANNUAL RETURN

As per the requirements of Section 92(3) of the Act and Rules framed thereunder, the extract of the Annual
Return for FY 2024-25, is uploaded on the website of the Company and the same is available at
www.kilpest.com

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

Details of loans, guarantees and investments covered by the provisions of Section 186 of the Companies Act,
2013 (if any) are given in Schedule I and M of the Standalone financial statements.

FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

The Board members are provided with necessary documents/brochures, reports and internal policies to
enable them to familiarize with the Company's procedures and practices. The details of such familiarization
programmes for Independent Directors are posted on the website of the Company and can be accessed at
http://www.kilpest.com/investors.html

INSURANCE

The assets of Company are adequately insured against loss of fire, riot, earthquake, flood etc. and other risks
which are considered necessary by the Management.

MATERIAL CHANGES & COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY
OCCURRING AFTER BALANCE SHEET

No material changes and commitments affecting the financial position of the company occurred between
the ends of this financial year to which these financial statements relate on the date of this report.

GREEN INITIATIVES

In commitment to keep in line with the Green Initiatives and going beyond it, electronic copy of the Notice
of 53^rd Annual General Meeting of the Company including the Annual Report for FY 2024-25 are being sent
to all Members whose e-mail addresses are registered with the Company / Depository Participant(s).

UPDATION OF EMAIL IDS FOR RECEIVING NOTICES / DOCUMENTS IN ELECTRONIC MODE:

Shareholders who have not registered their email addresses with the Company are requested to register
their email addresses with the Company to enable the Company to deliver notices /documents through e-
mode. Shareholders holding their shares in demat mode also have an option to register their email addresses
with their depository, through their depository participant.

GENERAL

Your Directors 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:

1. Details relating to issue of Equity Shares with Differential Rights, Sweat Equity, ESOS etc.

2. Details relating to disclosure in respect of voting rights not exercised directly by the employees in
respect of shares to which the scheme relates.

3. No applications were made or any proceedings were pending against the Company under the
Insolvency and Bankruptcy Code, 2016

NO DEFAULT

The company has not defaulted in payment of interest and/or repayment of loans to any of the financial
institutions and/or banks during the year under review.

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

The Company has in place a policy on prevention, prohibition and redressal of sexual harassment of women
at Work place in line with the requirements of the above Act. Under the said policy, an Internal Complaints
Committee (ICC) has been set up to redress complaints received relating to sexual harassment.

During the financial year under review, the Company has complied with all the provisions of the POSH Act
and the rules framed thereunder. Further details are as follow:

- Number of sexual harassment complaints received- Nil

- Number of sexual harassment complaints Disposed-off during the year- Nil

- Number of sexual harassment cases pending for a period exceeding ninety days- Nil

SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS

No significant material orders have been passed by the Regulators or Courts or Tribunals which would impact
the going concern status of the Company and its future operations.

MATERNITY BENEFIT COMPLIANCE

The Company affirms that it has duly complied with all provisions of the Maternity Benefit Act, 1961, and has
extended all statutory benefits to eligible women employees during the year.

DIRECTORS' RESPONSIBILITY STATEMENT

Based on the framework of internal financial controls and compliance systems established and maintained
by the Company, audit conducted by the Internal, Statutory, Secretarial Auditors, including audit of the
internal financial controls over financial reporting by the Statutory Auditors and the reviews performed by
Management and the relevant Board Committees, including the Audit Committee, the Board is of the opinion
that the Company's internal financial controls were adequate and operating effectively during FY 2024-25.

Accordingly, pursuant to Sections 134(3)(c) and 134(5) of the Act, the Directors, to the best of their
knowledge and ability, confirm that for the year ended 31^st March 2025:

1. in the preparation of the annual accounts, the applicable accounting standards have been followed
and that there are no material departures;

2. they have selected such accounting policies and applied them consistently and made judgments and
estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of
the Company at the end of the financial year viz., 31^st March 2025 and of the profit of the Company
for that period;

3. they have taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of the Act, for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;

4. they have prepared the annual accounts on a going concern basis;

5. they have laid down internal financial controls to be followed by the Company and that such internal
financial controls are adequate and are operating effectively; and

6. they have devised proper systems to ensure compliance with the provisions of all applicable laws and
that such systems are adequate and operating effectively.

PROVISION OF VOTING BY ELECTRONIC MEANS THROUGH REMOTE EVOTING AND EVOTING AT THE AGM

Your Company is providing E-voting facility as required under section 108 of the Companies Act, 2013 read
with Rule 20 of the Companies (Management and Administration) Amendment Rules, 2015. The ensuing
AGM will be conducted through Video Conferencing/ OVAM and no physical meeting will be held and your
company has make necessary arrangements with CDSL to provide facility for remote e-voting and e-voting at
AGM. The details regarding e-voting facility is being given with the notice of the Meeting.

THE FUTURE

Availability of best in the facilities with right blend of technology, vast distribution network, adequate
financial resources, stable tax regime and motivated manpower will facilitate your Company to continue to
drive growth across its various businesses and product categories both in domestic and international
markets.

Your Directors are confident that the Company will continue to create value for its shareholders and other
stakeholders.

ACKNOWLEDGEMENT

The Directors deeply appreciate and value the contribution, dedication, support, hard work and
commitment made by all the employees towards continuous improvement in all functions and areas as well
as efficient utilization of the Company's resources for sustainable and profitable growth.

The Directors would also like to place on record their appreciation for the continued co-operation and
support received by the Company during the year from bankers, financial institutions, government
authorities, farming community, business partners, shareholders, customers and other stakeholders. The
Directors look forward to continuance of the supportive relations and assistance in the future.

FOR AND ON BEHALF OF THE BOARD

DHIRENDRA DUBEY NIKHIL KUBER DUBEY

CHAIRMAN & MANAGING DIRECTOR CHIEF FINANCIAL OFFICER & WHOLETIME DIRECTOR

DIN:01493040 DIN:00538049

PLACE: BHOPAL
DATE: 14^th August 2025