Your Directors have pleasure in presenting herewith their 20^th Annual Report together with the
Audited Statement of Accounts of your Company for the Year ended March 31, 2025.

FINANCIAL HIGHLIGHTS:

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

(INR in Lakhs, unless otherwise stated)

PERFORMANCE REVIEW:

Standalone Financial Performance:

During the year under review, the company registered an increase in revenue amounting to Rs.
16361.62 Lakhs as compared to Rs. 10,374.54 Lakhs in the previous financial year 2023-24. The Company
also witnessed a decrease in Profit before Tax amounting to Rs. 409.23 Lakhs as compare to Rs 460.91
Lakhs in the financial year 2023-24. For the financial year 2024-25, the Profit after Tax (PAT) was Rs.
297.10 as compared to Rs. 383.15 during the previous financial year 2023-24.

Consolidated Financial Performance:

• During the Year under review, your company has consolidated turnover of Rs. 39,799.95 Lakhs
as compared to Rs 25,417. 71 Lakhs in the previous financial year 2023-24. Profit before Tax was
Rs 2000.25 Lakhs as compared to Rs 1000.63 Lakhs in the previous financial year 2023-24. Profit

after Tax Rs. 1,494.22 Lakhs as compare to Rs. 749.16 Lakhs in the previous financial year 2023¬
24.

DIVIDEND:

Considering the financial requirements for expansion of the business of the Company, your directors
do not recommend any dividend for the year under review.

TRANSFER TO RESERVE:

The Company has not transferred any amount to General Reserve during the current year.

CHANGE IN THE NATURE AND OPERATIONS OF COMPANY'S BUSINESS:

There is no change in the nature of business during the financial year 2024-25.

DEPOSITS:

The company has not accepted any deposits from public as covered under Section 73 of Chapter V
(Acceptance of Deposits by Companies) of the Companies Act, 2013.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

As of March 31, 2025, the Company's Board of Directors consists of five members, including two
Independent Directors. Mr. Rajeev Goenka is the Chairman & Non- Executive Director of the Company.
The composition of the Board is in compliance with the Companies Act, relevant rules, and the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015 (SEBI LODR).

Designations of Directors:

Changes in Directorship during the Year:

There was no change in directorship during the year 2024-25.

Key Managerial Personnel:

Mr. Lokesh Nahata resigned from the post of Chief Financial officer w.e.f. 11.04.2024 & Mr. Vishal
Kumar Bharuka was appointed as the Chief Financial Officer w.e.f. 11.04.2024.

Mr. Vishal Kumar Bharuka resigned from the post of Chief Financial officer w.e.f. 10.05.2024.

Mr. Shivam Thakkar was appointed as Chief Financial officer w.e.f. 18.05.2024

Mrs. Shivani Marda resigned from the post of Company Secretary & Compliance officer w.e.f.
09.08.2024, Mrs. Vandana Thakkar was appointed as Company Secretary and Compliance Officer of
the company w.e.f. 09.08.2024 during the financial year under review.

Disclosure of Relationships between Directors Inter-se:

Retirement by Rotation:

In terms of Section 152 of the Companies Act, 2013, Mrs. Poonam Goenka (DIN: 00304729), Whole-Time
Director of the Company is liable to retire by rotation at the forthcoming Annual General Meeting and
being eligible, offered herself for re-appointment. Brief profile of Director seeking Appointment/Re-
appointment is given as annexure to the Notice of AGM.

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

Declaration by Independent Director:

The Company has received declarations from all the Independent Directors of the Company confirming
that they meet the criteria of independence as specified under Section 149(6) of the Companies Act,
2013 read with schedules and rules issued thereunder. They have also confirmed that they meet the
requirements of "Independent Director" as mentioned under Regulation 16(1)(b) of the SEBI (Listing
Obligation and Disclosure Requirement) Regulation, 2015.

Pursuant to Data Bank Notification relating to IICA dated 22^nd October, 2019 Companies (Accounts)
Amendments Rules, 2019, Companies (Creation and Maintenance of Databank of Independent
Directors) Rules, 2019 and Companies (Appointment and Qualification of Directors) Fifth Amendment
Rules, 2019, all the existing Independent Directors have registered themselves with Indian Institute of
Corporate Affairs.

SHARE CAPITAL:

There was no change in the Authorized Share Capital, which remains at Rs. 22,00,00,000/- comprising
2,20,00,000 equity shares with a face value of Rs. 10 each.

The Issued, Subscribed, and Paid-up Share Capital as of March 31, 2025, is Rs. 20,98,27,500 consisting
of 2,09,82,750 Equity Shares of face value of Rs. 10 each, fully paid-up.

The paid-up equity shares capital of the company as at 31^st March, 2025 is Rs. 20,98,27,500/- (Rupees
Twenty Crore Ninety-Eight Lakhs and Twenty-Seven Thousand and Five Hundred only) out of the
total paid up share capital of the company, 67.29% is held by promoters and promoter's group in fully
dematerialized form and remaining balance of 32.71% is held by Public (persons other than promoter
and promoter group). All the shares are in dematerialized form. During the year under review, the
company has neither issued shares with differential rights as to dividend, voting or otherwise nor has
issued any shares pursuant to stock option or sweat equity under any scheme. Further, none of the
directors of the company holds investment convertible into equity shares of the company as at 31^st
March, 2025.

SUBSIDIARIES. ASSOCIATES AND TOINT VENTURES:

Cool Caps Industries Limited (L27101WB2015PLC208523) is the subsidiary of Purv Flexipack Limited.

In accordance with section 129(3) of the Companies Act, 2013, the Company has prepared consolidated
financial statements of the Company, which forms part of the Annual Report. Pursuant to the aforesaid
provisions of the Companies Act, 2013, a statement containing salient features of the financial
statements of the Company's subsidiaries in form AOC-1 is attached herewith as "Annexure -I" to the
financial statement of the Company. The statement also provides the details of performance and
financial position of the subsidiaries of the Company.

The Company does not have any joint venture or Associate Company.

BOARD MEETINGS:

During the Financial Year 2024-25, Twenty numbers of Board Meetings were held, details of which are
given below:

Frequency and Quorum at these Meetings were in conformity with the provisions of the Companies
Act, 2013 and the "Listing Regulation" and the listing agreements entered into by the company with
the Stock Exchange. The intervening gap between the Meetings was within the period prescribed under
the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

COMMITTEES OF BOARD:

The Board of Directors has constituted three Committees, viz.;

1. Audit Committee

2. Nomination and Remuneration Committee

3. Stakeholders' Relationship Committee

Details of all the Committees along with their composition, terms of reference and meetings held during
the year are provided in Annexure-II.

SEPARATE MEETING OF INDEPENDENT DIRECTORS:

The Company's Independent Directors held their meeting on February 14, 2025, without the attendance
of Non-Independent Directors and members of the management. All Independent Directors were
present at the meeting.

DIRECTORS APPOINTMENT, REMUNERATION AND ANNUAL EVALUATION:

The Company has devised a Policy for Directors' appointment and remuneration including criteria for
determining qualifications, performance evaluation and other matters of Independent Directors, Board,
Committees and other individual Directors which include criteria for performance evaluation of both
non-executive directors and executive directors.

The Company's Nomination & Remuneration policy which includes the Director's appointment &
remuneration and criteria for determining qualifications, positive attributes, independence of the
Director & other matters is available on the website of the Company at the link www.purvflexipack.in

DIRECTOR'S RESPONSIBILITY STATEMENT:

Pursuant to Section 134(3) (c) of the Companies Act, 2013 the Board of Directors of the Company
confirm that:

(i) In the preparation of the annual accounts for the year ended 31^st March, 2025, the applicable
accounting standards read with requirements set out under Schedule III to the Act, have been
followed and there are no material departures from the same.

(ii) The Directors have selected such accounting policies and applied them consistently and made
judgements and estimates that are reasonable and prudent so as to give true and fair view of the
state of affairs of the Company as at the end of financial year and the Profit of the Company for
the year ended on that date;

(iii) The Directors had taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of the Companies Act for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities;

(iv) The Directors have prepared the annual accounts on a going concern basis;

(v) The Directors have laid down internal financial controls to be followed by the Company, which
are adequate and operating effectively; and

(vi) The Directors had devised proper systems to ensure compliance with the provisions of all
applicable laws and such systems were adequate and operating effectively.

STATUTORY AUDITORS:

M/s. Keyur Shah & Associates, Chartered Accountants, Ahmedabad, (FRN 333288W) appointed as
Statutory Auditors of the Company to hold office for a period of five year from the conclusion of 18^th
Annual General Meeting held in 2023 till the conclusion of the 23^rd Annual General Meeting to be held
in 2028 and as required under the provisions of Section 139 of the Companies Act, 2013, the company
has obtained a written consent and certificate from the above mentioned Auditors to the effect that they
confirm with the limits specified in the said Section and they had also given a Certificate of eligibility
stating that they are not disqualified for appointment within the meaning of Section 141 of Companies
Act, 2013.

Further, in accordance with the Companies Amendment Act, 2017, enforced on 7th May, 2018 by
Ministry of Corporate Affairs, the appointment of Statutory Auditors is not required to be ratified at
every AGM.

Statutory Auditors' Observations:

The report of the Statutory Auditors along with notes to financial statements is enclosed to this report.
The Notes on financial statement referred to in the Auditors' Report are self-explanatory and do not
call for any further comments. The Auditors' Report does not contain any qualification, reservation or
adverse remark.

SECRETARIAL AUDITOR:

Pursuant to provision of Section 204 of the Companies Act, 2013 and The Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014 (including any statutory modification(s) or re-
enactment(s) thereof, for the time being in force), M/s K. Bothra & Associates, Company Secretary in
Practice (Membership No. 37452, COP No. 15159), Kolkata has been appointed by the board as a
secretarial auditor of the company for the Financial Year 2024-25.

The Secretarial Audit Report for the Financial Year ended 31^st March, 2025 is attached herewith as
Annexure-III.

COST AUDIT:

Central Government has notified rules for Cost Audit and as per new Companies (Cost Records and
Audit) Rules, 2014 issued by Ministry of Corporate Affairs, Cost audit report for the FY 2024-25 is not
applicable to the Company.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS UNDER SECTION 186:

The Company has given loans, made Investment, given guarantee and securities during the year under
review with compliance of provisions of section 186 of Companies Act, 2013.

Details of loans, guarantees and investments as on 31.03.2025 are disclosed herewith.

Details of Loans Given as follows, which are repayable on demand:

Details of Guarantees provided for various Credit Facilities as mentioned in Annual Accounts for
the FY 24-25:

Details of Investment made:

CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES:

All related party transactions that were entered into during the financial year ended 31^st March, 2025
were on an arm's length basis and were in the ordinary course of business. Further, significant related
party transactions during the year under review made by the Company with Promoters, Directors, our
Group Companies or other designated persons which may have a potential conflict with the interest of
the Company at large is disclosed in Form AOC-2 is attached herewith as "Annexure - IV". However,

the disclosure of transactions with related party for the year, as per Accounting Standard -18 Related
Party Disclosures is given in Note No. 31 to the Balance Sheet as on 31^st March, 2025.

RISK MANAGEMENT POLICY:

The Listing Regulations required that all listed Companies shall lay down the procedure towards risk
assessment. It also requires that the Company must frame, implement and monitor the risk
management plan of the Company. To overcome this and as per the requirement of Section 134(3)(n)
of the Companies Act, 2013 read with the rules made there under, if any, Board has framed a Risk
Management Policy to oversee the mitigation plan including identification of element of risk, for the
risk faced by the Company, which in the opinion of the Board may threaten the existence of the
Company. The objective of the policy is to make an effective risk management system to ensure the
long-term viability of the Company's business operations.

Although the Company has adopted the policy regarding the assessment of the risk and its updates are
provided to the senior management of the Company the process for the mitigation of the risk is defined
under the risk management policy of the company which are available for the access on our website
www.purvflexipack.in.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:

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

A. Conservation of Energy:

Your company is committed to environmental sustainability and energy efficiency. As a distributor of
various plastic-based products, including Biaxially Oriented Polypropylene (BOPP) film, Polyester
Films, Cast Polypropylene (CPP) films, plastic granules, inks, adhesives, masterbatches, ethyl acetate,
and titanium dioxide, we recognize the importance of reducing energy consumption in our operations.
The following measures have been implemented to ensure effective energy conservation:

• We have upgraded our facilities with energy-efficient lighting systems and modernized
equipment to minimize electricity usage.

• We continually assess and optimize our logistics and supply chain processes to reduce fuel
consumption and greenhouse gas emissions. This includes the efficient management of
transportation and warehousing.

• Regular maintenance schedules for all machinery and equipment help in ensuring their
optimal performance and energy efficiency.

• Our staff is trained on energy conservation practices and encouraged to participate in
initiatives aimed at reducing energy consumption.

B. Technology Absorption:

Your company is dedicated to the absorption and implementation of advanced technologies to enhance
our operational efficiency and product quality. Key aspects of our technology absorption strategy
include:

• We actively integrate the latest technology in warehousing and distribution operations to
streamline processes and improve accuracy.

• We collaborate with technology providers to stay updated on the latest advancements and
incorporate relevant technologies into our operations.

• Our employees receive continuous training on new technologies and systems to ensure
effective implementation and utilization.

• We invest in research and development activities to explore and absorb innovative
technologies that can benefit our product distribution and management processes.

C. Foreign Exchange Earning & outgo:

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:

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

The company has proper and adequate system of Internal control to ensure that all assets are
safeguarded and protected against loss from unauthorized use or disposition and that transaction are
authorized, recorded and reported correctly. The company has effective system in place for achieving
efficiency in operations, optimum and effective utilization of resources, monitoring thereof and
compliance with applicable laws.

LISTING OF EQUITY SHARES:

The Equity shares of the Company are listed on SME Emerged Platform of National Stock Exchange of
India Limited. The Company is regular in payment of Annual Listing Fees and other compliance fees.

CREDIT RATING:

The Company has taken credit rating from M/s. CARE Ratings Limited vide credit rating report dated
August 9, 2024 which is as under:

MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION OF THE
COMPANY

During the financial year 2024-25, no significant change has taken place which could have an impact
over the financial position of the Company. Further, except those disclosed in this Annual Report, there
are no material changes and commitments affecting the financial position of the Company between the
end of the financial year i.e., 31^st March, 2025 and the date of this Report.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The company has efficiently built up its internal vigil mechanism to effectively manage breach of
conduct, abuse containments, financial irregularities, sensitive information sharing other than for
legitimate purposes, unethical or unfair business practices in regard to mala-fide manipulation of the
business processes as per SOP (internal /external). Your directors have adopted a Vigil
Mechanism/Whistle Blower Policy. The Policy has been posted on the website of the company and is
available at www.purvflexipack.in. None of the company's personnel have been denied access to the
Audit Committee. During the year under review nothing has been reported under the policy. The
Whistle Blower Policy of the Company can be accessed on the website of the Company
www.purvflexipack.in.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS,
COURTS AND TRIBUNALS:

No significant and material order has been passed by the regulators, courts, tribunals impacting the
going concern status and Company's operations in future.

DISCLOSURES AS PER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION. PROHIBITION. AND REDRESSAL) ACT, 2013

The Company has adopted zero tolerance for sexual harassment at the workplace and has formulated
a policy on prevention, prohibition, and redressal of sexual harassment at the workplace in line with
the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013 and the rules thereunder for prevention and redressal of complaints of sexual
harassment at workplace.

There were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention,
Prohibition & Redressal) Act' 2013 during the year under review.

The Company's goal has always been to create an open and safe workplace for every employee to feel
empowered, irrespective of gender, sexual preferences and other factors, and contribute to the best of
their abilities.

The following is a summary of complaints received and resolved during the reporting period:

MATERNITY BENEFIT PROVIDED BY THE COMPANY UNDER MATERNITY BENEFIT ACT
1961:

The Company has complied with the provisions of the Maternity Benefit Act, 1961, and during the year,
there was no claim for maternity benefits by any woman employee. The Company continues to comply
with the provisions of the Maternity Benefit Act, 1961, The Company remains committed to fostering
an inclusive and supportive workplace for its women employees.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES:

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the
Companies Act, 2013 and Rule 5(1), 5(2) and 5(3) of the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014 is attached as Annexure-V to this Report.

CORPORATE SOCIAL RESPONSIBILTY (CSR)

In compliance with Section 135 of the Act, the Company has undertaken CSR activities, projects and
programs as provided in the CSR policy of the Company and as identified under Schedule VII of the
Act and excluding activities undertaken in pursuance of its normal course of business. The Corporate
Social Responsibility (CSR) Policy formulated by the Company is available at the website of the
company at www.purvflexipack.in. The policy encompasses the philosophy of the Company for
delineating its responsibility as a corporate citizen and lays down the guideline and mechanism for
undertaking socially useful programs for welfare of the community at large and for under privileged
community in the area of its operation in particular.

The Annual Report on CSR containing salient features of the CSR Policy, details of activities, and other
information as required under Companies (Corporate Social Responsibility Policy) Rules, 2014 are
provided in Annexure VI attached to this Report. The CSR Policy may be accessed on the Company's
website at www.purvflexipack.in

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

The Management Discussion and Analysis Report has been furnished herewith to Board's Report as
Annexure- VII.

CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS

The certificate of non- disqualification has been furnished herewith to Board's Report as Annexure -
VIII

SECRETARIAL STANDARDS AND STATEMENT FOR COMPLIANCE OF APPLICABLE
SECRETARIAL STANDARDS:

The Company had complied with Secretarial Standards SS-1 & SS-2 issued by the Institute of Company
Secretaries of India on Board and General Meetings.

REPORTING OF FRAUDS BY AUDITORS:

The Statutory Auditors of the Company have not reported any fraud as specified under the second
proviso of section 143(12) of the Act (including any statutory modification(s) or re-enactment(s) for the
time being in force.

EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE
REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY
SECRETARY IN THEIR REPORTS:

There were no qualifications, reservations, adverse remarks or disclaimers made by Statutory Auditors
of the Company in their Audit Report.

ENVIRONMENT, HEALTH AND SAFETY:

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

CORPORATE GOVERNANCE:

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

BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT (BRR):

The Business Responsibility and Sustainability Report as required under Regulation 34(2)(f) of the SEBI
(Listing Obligations & Disclosure Requirements) Regulations 2015, is not applicable on the company
for the Financial Year ended 31^st March, 2025.

OTHER DISCLOSURES:

a. The Company had no scheme or provision of money for the purchase of its own shares by
employees/ Directors or by trustees for the benefit of employees/Directors.

b. The Company has not entered into any one-time settlement proposal with any Bank or financial
institution during the year.

c. As per available information, no application has been filed against the Company under the
Insolvency and Bankruptcy Code, 2016 nor are any proceedings thereunder pending as on 31st
March, 2024.

d. There were no amounts which were required to be transferred to the Investor Education and
Protection Fund by the Company during the year.

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

ACKNOWLEDGEMENT:

Your Directors would like to express their appreciation for assistance and co-operation received from
the Banks, Customers, Vendors and members during the year under review. Your Directors also wish
to place on record their appreciation to employees at all levels for their hard work, dedication and
commitment which has enabled the Company to march ahead.

For Purv Flexipack Limited
Sd-

Rajeev Goenka

Chairman and Non-Executive Director
DIN: 00181693
Place: Kolkata

Date: 21.08.2025