Your directors take pleasure in presenting the 30^th Annual Report
together with the audited financial statements of Nectar Lifesciences
Limited (“NLL” or “Neclife” or “Nectar” or “the Company”) for the
Financial Year (“FY”) ended March 31,2025.

Financial results and state of affairs

The Company’s revenue during FY 2024-25 stood at INR 19084/-
million against INR 19258/- million in the previous year recording a
decrease of 0.91%. The Company reported a loss before tax of INR
1615.34 million in FY 2024-25 compared to profit before tax of INR
182.76 million in FY 2023-24 with a decrease of 983.86%.

During the financial year 2020-21, based on expert’s (nominated by
the Lead Bank) findings, the Company has reclassified certain
inventories from “Current” to “Non- Current”. Notwithstanding the
reports furnished by technical expert about the remaining non-current
inventory, the management has, adhering to conservatism principle,
decided to mark down the realizable value of inventory to INR 506.13
million from INR 1773.31 million, based on the fact that the inventory
has been in stocks for a considerable period. The resultant loss has
been charged to profit and loss account in 2024-25.

The detailed discussion on Company’s various operations, state of
Company’s affairs, nature of business and changes therein are set
out in Management Discussion and Analysis Report (“MDA”).
The MDA of financial condition and result of operations of the
Company for the year under review as required under Securities
and Exchange Board of India (“SEBI”) (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (“LODR Regulations”),
is given as Annexure 1 and forms and part of this report. Any
disclosure not given in this report and its annexures but disclosed in
Annexure 1, shall be deemed to be reported in this report and vice
versa. As the Company is not in the top 1000 companies list based
on the Market Capitalisation from March 31,2022 to December 31,

2024, the Business Responsibility and Sustainability Report (“BRSR”)
is not be applicable to the Company.

Board of Directors of Company in their meeting held on July 07,

2025, have approved the:

1. Sale of business of manufacture, distribution, marketing of active
pharmaceutical ingredients and formulations (“Business”) of the
Company to Ceph Lifesciences Private Limited (“Purchaser”)
for INR 12,70,00,00,000/- (Indian Rupees one thousand two
hundred seventy crore only) as a slump sale on a going concern
basis. For this purpose, a business transfer agreement dated
July 07, 2025 has been executed between the Company and
the Purchaser (“BTA”) and the Proposed Transaction shall take
place in accordance with the terms set out in the BTA and
subject to adjustments in accordance with the terms of the BTA.
The members in their 2025-26/01 st Extraordinary General
Meeting have approved the transaction by way special resolution
as well as by majority of public shareholders.

2. Sale, transfer and delivery of the assets of the Company in
relation to its menthol business (“Assets”) to Purchaser for INR
20,00,00,000/- (Indian Rupees Twenty Crores only), plus
applicable GST payable on the sale of such Assets under the
applicable law, on the terms and conditions as set out in the
asset purchase agreement dated July 07, 2025 (“APA”)
executed between the Company and the Purchaser.

The object and commercial rationale for the above transactions were
to utilise the sale proceeds for strategic purposes, including
repayment of existing debt, investment in new projects, rewarding
shareholders in the form of special dividends and / or Buyback of
Equity Shares by the Company or mix of both and general corporate
purposes, as deemed fit by the Board or its committee, in accordance
with applicable law.

There has been no change in the nature of business of the Company.
Apart from above and discussed in MDA, if any, there are no material
changes and commitments affecting the financial position of the
company during and after the closure of FY. The financial results of
the company for the quarter ended on June 30, 2025, will be made
available on the website of the company (URL: https://
www.neclife.com/about-1 ).

Indian Accounting Standards (“Ind AS”) and Secretarial
Standards

The company has adopted Ind AS prescribed under section 133 of
the Companies Act, 2013 (“Act”), read with the relevant rules issued
there under and accordingly, standalone and consolidated audited
financial statements have been prepared in accordance with the
recognition and measurement principles laid down in Ind AS and the
other accounting principles generally accepted in India.

The Company is in compliance of Secretarial Standards as issued
by Institute of Company Secretaries of India (“ICSI”).

Corporate Governance

The Company aimed to conduct its affairs in an ethical manner. A
separate Report on Corporate Governance is given as Annexure 2
and forms part of this report. A certificate from the Company’s
Auditors regarding the Compliance of Conditions of Corporate
Governance as stipulated under LODR Regulations is given in
Annexure 3. Any disclosure not given in this report and its annexures
but disclosed in Annexure 2, shall be deemed to be reported in this
report and vice versa.

Share capital

The authorised capital of the Company is INR 350.00 million divided
into 350 million equity shares of INR 1.00 each. The paid-up equity
share capital as on March 31,2025, was INR 224.26 million. There
was no public issue, rights issue, bonus issue or preferential issue,
etc. during the FY. The Company has not issued shares with

differential voting rights, sweat equity shares, nor has it granted any
stock options. Thus, nothing to report on change in share capital.

Global Depository Receipts (GDRs)

During the year all the GDRs underlying the equity shares in the
Company have been stand cancelled and converted to equity shares
therefore, no outstanding GDRs are pending or held by Deutsche
Bank Trust Company Americas, the Depository of GDRs. Therefore,
the GDRs have been delisted from Luxembourg Stock Exchange
(“LuxSE”) with effect from November 28, 2024.

Subsidiary Company

The Company has wholly owned subsidiary (“WOS”) namely
NECLIFE PT, UNIPESSOAL LDA (“NECLIFE PT”), incorporated in
Portugal. There is negligible investment in NECLIFE PT, and no
business activity has been carried out therein in FY 2024-25 and till
date in FY 2025-26. Therefore, nothing is to report on the performance
and financial position of NECLIFE PT. The contribution of WOS in
the performance of the Company was/ is negligible.

Pursuant to the provisions of Section 129(3) of the Act, a statement
containing salient features of financial statements of subsidiaries,
associates and joint venture companies in Form AOC-1 is attached to
the Financial Statements. The separate financial statements in respect
of the NECLIFE PT shall be kept open for inspection at the Registered
Office of the Company during working hours for a period of 21 days
before the date of the Annual General Meeting (“AGM”). Your Company
will also make available these documents upon request by any Member
of the Company interested in obtaining the same. The separate audited/
unaudited financial statements in respect of the NECLIFE PT are also
available on the website of your Company at URL:
https://www.neclife.com/ files/ugd/6aa048 fb0ac3f9212f4778b0d7cc20f4958bf1 .pdf.

The WOS is not material as per Policy for determining Material
Subsidiaries of the Company and LODR Regulations. The Company
does not have any associate company or joint venture company,
therefore, nothing to report thereon.

Consolidated financial Statements

As required under Section 129 of the Act and LODR Regulations,
consolidated financial statements for the year ended on March 31,
2025, of the Company are attached.

Dividend, Reserves and Dividend Distribution Policy

Considering the financial position of the Company, your directors
have decided not to recommended a Dividend for the year ended
March 31,2025. The Board of Directors of your company, has decided
not to transfer any amount to the Reserves for the year under review.

The Dividend Distribution Policy is placed on the website of the Company at
https://www.neclife.com/ files/ugd/6aa048 08a096eaff2643ee8944920c02642ea8.pdf
and Company is in compliance of the same.

The members may please refer to notes of Notice of AGM for
information on shares/dividend transferred / proposed to be
transferred to IEPF Authority.

Directors and Key Managerial Persons

Mr. Sanjiv Goyal (DIN: 00002841), Director will retire by rotation in
the forthcoming AGM and being eligible, offer himself for re¬
appointment. The Board recommends his re-appointment as a
Director.

Mr. Sanjiv Goyal (DIN-00002841) has been re-appointed as a
Chairman & Managing Director of the company w.e.f. May 31,2025
for a period of 3 years by the members in their AGM held on
September 21,2024.

Mr. Puneet Sud (DIN: 09735713) has been re-appointed as a
Wholetime Director designated Director (Operations) of the company
for a period of six months and seven days starting from September

24, 2024 and ending on March 31,2025 by members in their AGM
held on September 21, 2024. Pursuant to the authority granted by
the members in their AGM held on September 21,2024, the Board
has in their meeting held on April 01,2025, re-appointed Mr. Puneet
Sud as a Whole-time Director designated as Director (Operations)
of the Company for a period of two months starting from April 1,
2025 and ending on May 31,2025. On expiry of his term on May 31,
2025, Mr. Sud has also tendered his resignation as a Director of the
Company with effect from closing hours of May 31,2025.

Based on the recommendation of NRC, the Board of Directors vide
their resolutions dated May 30, 2025, have appointed Dr. Surulichamy
Senthilkumar (DIN- 11124083) as an Additional Director of the
Company w.e.f. June 01, 2025 as well as Whole time Director
designated as Director (R&D) of the Company for a period of three
years from June 01,2025. He has been appointed as regular director
and his appointment as a Whole time Director designated as Director
(R&D) approved, by the members in their Extraordinary General
Meeting held on August 04, 2025.

The Company has received declarations from all the Independent
Directors of the Company confirming that:

1. They meet the criteria of independence as prescribed both under
sub-section (6) of Section 149 of the Act, and under LODR
Regulations;

2. They hold highest standards of integrity and possess requisite
expertise and experience (including proficiency in terms of
Section 150(1) of the Act and applicable rules thereunder)
required to fulfill their duties as Independent Directors;

3. They are in compliance of sub-rule (1), sub-rule (2) and sub¬
rule (4) of Rule 6 of Companies (Appointment and Qualifications
of Directors) Rules, 2014;

4. They have complied with the Code of Conduct for Directors
and senior management.

Your Directors do hereby confirm that in the opinion of the board the
independent directors;

a. fulfil the conditions specified in the Act and LODR Regulations;

b. are independent of the management; and

c. possess integrity, expertise and experience (including the
proficiency in terms of Section 150(1) of the Act).

As on the date of the end of FY, the company has right proportion of
Independent Directors viz a viz Non-Independent Directors as per
applicable provisions of Section 149 of the Act, and LODR
Regulations.

Ms. Neha Vaishnav, Company Secretary & Compliance Officer has
resigned from the Company w.e.f. February 28, 2025 and Board has
in their meeting held on April 01,2025, appointed Mr. Sanjaymohan
Singh Rawat as a Company Secretary & Compliance Officer of the
Company.

Pursuant to the provisions of Section 203 of the Act, the key
managerial personnel of the Company as on March 31,2025, were
as under:

Mr. Sanjiv Goyal, Chairman & Managing Director
Mr. Puneet Sud, Director (Operations)

Mr. Amit Chadah, Chief Executive Officer (“CEO”)

Mr. Sushil Kapoor, Chief Financial Officer (“CFO”)

Number of meetings of the board

Four (4) meetings of the board were held during the year. The details
of Directors’ attendance and meeting held during FY 2024-25 are
provided in Corporate Governance Report which forms and part of
this report.

Directors’ responsibility statement

The Directors confirm that:

• in the preparation of the annual accounts, the applicable
accounting standards have been followed and that no material
departures have been made from the same;

• 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 FY and of
the profit & loss of the Company for that period;

• 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;

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

• they have laid down internal financial controls for the Company
and such internal financial controls are adequate and operating
effectively; and

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

Committees of the Board

The Company constituted the Committees as per the provisions of
Sections 135, 177, 178 and other applicable provisions of the Act
and LODR Regulations. The composition, powers and duties of the
Committees, during FY 2024-25, are detailed out in the Corporate
Governance Report which forms part of this report. The Board of
Directors accepted all recommendations of the Audit Committee.

Policy on directors’ appointment and remuneration and other
details

The Company’s policy on directors’ appointment and
remuneration and other matters namely Nomination,
Remuneration & Evaluation Policy as provided in Section 178(3)
of the Act has been uploaded on the website of the company at
https://www.neclife.com/ files/ugd/6aa048 17d769b4f1064d5eadb8fb8d97a4520f.pdf.
The salient features of the Policy are to provide a framework
and set standards for the nomination, remuneration & evaluation
of the Directors, Key Managerial Personnel and officials
comprising the Senior Management. The Company aims to
achieve a balance of merit, experience and skills amongst its
Directors, Key Managerial Personnel and Senior Management.
The criteria for Appointment of Directors/KMPs/Senior Officials
are as under:

For Enhancing the competencies of the Board and attracting as well
as retaining talented employees for role of KMP/a level below KMP
are the basis for the NRC to select a candidate for appointment to
the Board. When recommending a candidate for appointment, the
NRC has regard to:

• Assessing the appointee against a range of criteria which
includes but not be limited to qualifications, skills, regional and
industry experience, background and other qualities required
to operate successfully in the position, with due regard for the
benefits from diversifying the Board;

• The extent to which the appointee is likely to contribute to the
overall effectiveness of the Board, work constructively with the
existing directors and enhance the efficiencies of the Company;

• The skills and experience that the appointee brings to the role
of KMP/Senior Official and how an appointee will enhance the
skill sets and experience of the Board as a whole;

• The nature of existing positions held by the appointee including
directorships or other relationships and the impact they may
have on the appointee’s ability to exercise independent
judgment.

The criteria for deciding the Remuneration of Directors, Key
Managerial Personnel and Senior Management are as under:

• The guiding principle is that the level and composition of
remuneration shall be reasonable and sufficient to attract, retain
and motivate Directors, Key Management Personnel and other
senior officials.

• The Directors, Key Management Personnel and other senior
official’s salary shall be based & determined on the individual
person’s responsibilities and performance and in accordance
with the limits as prescribed statutorily, if any and other relevant
factors including but not limited to market, business performance
and practices in comparable companies, having due regard to
financial and commercial health of the Company as well as
prevailing laws and government/other guidelines.

There could be following component of Remuneration:

a) Base Compensation (fixed salaries): Must be competitive and
reflective of the individual’s role, responsibility and experience
in relation to performance of day-to-day activities, usually
reviewed on an annual basis;

b) Variable salary: The NRC may in its discretion structure any
portion of remuneration to link rewards to corporate and
individual performance, fulfillment of specified improvement
targets or the attainment of certain financial or other objectives
set by the Board.

There is no change in the policy during FY 2024-25.

Board evaluation

Pursuant to the provisions of the Act and LODR Regulations, the
evaluation of the Board involves multiple levels:

1. Board as a whole;

2. Committees of the Board;

3. Individual Directors and Chairperson, CEO, Independent
Directors, Non-independent directors, etc.

The performance of the Board and committees was evaluated by
the NRC and the Board after seeking inputs from all the directors/
committee members on the basis of the criteria such as the Board/
committee composition and structure, effectiveness of board
processes, information and functioning, etc.

The following information is provided in agenda papers for evaluation
of:

A. Board

1. Frequency of meetings

2. Attendance by Board members

3. Duration and conduct of meetings

4. Agenda and documentation

5. Board Structure

6. Functions of the Board

7. Communications and Interaction

B. Committees

1. Size of the Committee is appropriate for the complexity &
operations of the organization.

2. Effectiveness of the Committee in performing its role and
discharging its responsibilities (as mandated under the Act
and the LODR Regulations).

3. The Committee oversees the terms of references assigned
to it/ its statutory obligations/ role defined.

4. The Committee review / approves matters of its terms of
reference.

5. Agenda of the Committees are being circulated at a
reasonable time in advance

6. Draft and Signed Minutes of the Committees circulated to
the members of the Committee.

7. Minutes of meeting(s) of the Committee are placed before
the Board regularly.

8. The Committee effectively performs support functions to
the Board in fulfilling its responsibilities.

9. Overall functioning of the Committee.

C. Independent Directors, Chairman & Managing Director,

Wholetime Director and CEO:

1. Consistently and actively participated in the board and
committee meetings.

2. Prepared adequately for the board/ committee meetings.

3. Contributed to strategy and other areas impacting
Company performance.

4. Brought their experience and credibility to bear on the
critical areas of performance of the company.

5. Kept updated knowledge of their area of expertise.

6. Communicated in open and constructive manner.

7. Gave fair chance to other members to contribute,
participates actively in the discussions and were consensus
oriented.

8. Helped to create positive image of the Company and helped
the Company wherever possible.

9. Actively contributed toward positive growth of the
Company.

10. Conducted themselves in a manner that was ethical and
consistent with the laws of the land.

11. Attitude

12. Application to the job

The NRC and the Board have reviewed the performance of the
individual directors and CEO on the basis of the criteria such as the
contribution of the individual director to the Board and committee
meetings like preparedness on the issues to be discussed,
meaningful and constructive contribution and inputs in meetings, etc.
In addition, the Chairman was also evaluated on the key aspects of
his role. The performance evaluation forms of each of director get
filled from all directors based on Knowledge, Skills, Attitude,
Application to the job, Communication, Human Behavior & Teamwork
and Overall Performance.

In a separate meeting of independent Directors, performance of non¬
independent directors, performance of the board as a whole and
performance of the Chairman and CEO was evaluated on the basis
of parameters as provided above.

Internal financial control systems and their adequacy

The company has adequate financial controls. The details in respect
of internal financial control and their adequacy are included in the
MDA, which forms part of this report.

Auditors

M/s Deepak Jindal & Co, Chartered Accountants (Firm Registration
No. 023023N) have been appointed as the Statutory Auditors of the
Company in the 27^th AGM held on September 21,2022, for a period
of five years commencing from the conclusion of the 27^th AGM till
the conclusion of the 32^nd AGM to be held in the year 2027.

Auditors’ Report

The Report given by the M/s Deepak Jindal & Co, on the financial
statements of the Company is part of the Annual Report. There has
been no qualification, reservation, adverse remark or disclaimer given
by the Auditors in their Report. Observations made in the Auditors’
Report are self-explanatory and therefore do not call for any further
explanation.

Secretarial Auditor and Secretarial Audit Report

Secretarial Audit has been carried out by Mr. Prince Chadha of P.
Chadha & Associates, Practicing Company Secretary, the Secretarial
Auditor of the company for FY 2024-25. The Secretarial Audit Report
is appended as Annexure 4 to this report. There were no
qualifications, reservation or adverse remarks given by Secretarial
Auditors of the Company. Observations made in the Auditors’ Report
are self-explanatory and therefore do not call for any further
explanation.

The Company has undertaken an audit for the FY 2024-25 for all
applicable compliances as per SEBI Regulations and Circulars/
Guidelines issued thereunder. The Annual Secretarial Compliance
Report has been submitted to the stock exchanges within 60 days
of the end of the FY and also available on the website of the Company
at www.neclife.com.

Pursuant to amendments in LODR effective from April 01,2025, the
Board of Directors on recommendations of Audit Committee proposed
the appointment of Mr. Prince Chadha of P. Chadha & Associates,
Company Secretary in Practice (Firm Registration No. 12409) as
the Secretarial Auditors of the Company, for a period of five years
for FY 2025-26 to FY 2029-30.

Mr. Prince Chadha of P. Chadha & Associates have consented to
their appointment as Secretarial Auditors and have confirmed that if
appointed, their appointment will be in accordance with Section 204
read with other applicable provisions of the Act and LODR
Regulations.

Cost Records and Audit

The Company is required to maintain cost records as specified by
the Central Government under sub-section (1) of section 148 of the
Act and accordingly such accounts and records are made and
maintained.

The Cost Auditor has submitted the Cost Audit Report for FY 2023¬
24 on August 14, 2024, which has been filed on September 04, 2024,
within the prescribed time.

The Cost Auditor will forward the Cost Audit Report for FY 2024-25
by September 27, 2025. The report will be filed with the Ministry of
Corporate Affairs within 30 days of the date of Cost Audit Report.

The Company has re-appointed Dr. Vimal Kumar Aggarwal
(Membership No. 9982) prop. of M/s V. Kumar and Associates, #G-
104, Jaipuria Sunrise Green, VIP Road, Zirakpur, SAS Nagar (Mohali)
Punjab-140603, Cost and Works Accountants as the Cost Auditors
of the Company for FY 2025-26.

Report by Auditors under Section 143(12) of the Act

None of the Auditors have reported any fraud under sub-section (12)
of section 143 of the Act to the Audit Committee or the Board.

Risk management

The development and implementation of risk management policy
has been covered in the MDA, which forms part of this report.

The audit committee has additional oversight in the area of financial
risks and controls. Major risks identified by the businesses and
functions are systematically addressed through mitigating actions
on a continuing basis.

Particulars of loans, guarantees and investments

The Company has not given any loan or provided guarantee or
security as per Section 186 of the Act, however, the amount
receivable from subsidiaries, if any, and the investments under
section 186 of the Act are given in the Financial Statements forming
part of the Annual Report.

Transactions with related parties

Information on transactions with related parties pursuant to Section
134(3)(h) of the Act read with rule 8(2) of the Companies (Accounts)
Rules, 2014 are given in Annexure 5 in Form AOC-2 and the same
forms part of this report. Further details about these transactions
are provided in Report on Corporate Governance and Financial
Statements forming part of the Annual Report.

Corporate social responsibility

The information as required under Section 135 of the Act and
Companies (Corporate Social Responsibility Policy) Rules, 2014
(“CSR Rules”), the brief outline of the Corporate Social Responsibility
(“CSR”) Policy of the Company and the initiatives undertaken by the
Company on CSR activities during the year are set out in Annexure
6 of this report in the format prescribed in the CSR Rules. The CSR
policy is available on the website of the Company.

Annual Return and Extract of annual return

As provided under Section 92(3) of the Act, the Annual Return (MGT-
7) is also available on the website of the company at
https://www.neclife.com/ files/ugd/6aa048 03ac85dcb08f4eac9116183dd27f8feb.pdf.

Employees

The information required under Section 197 of the Act read with rule
5(1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 is attached as Annexure 7. In terms of proviso
to Section 136 of the Act, the Report and Accounts are being sent to
the Members and others entitled thereto, excluding the information
on employees’ particulars as required pursuant to provisions of Rule
5(2) and 5(3) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014. The said information is available
for inspection by the Members at the Registered Office of the
Company during business hours on working days of the Company
up to the date of the ensuing AGM. If any Member is interested in
obtaining a copy thereof, such Member may write to the Company
Secretary in this regard. This information is also available on the
website of the Company (URL: www.neclife.com).

Deposits from Public

The Company has not accepted any deposits from public within the
meaning of Sections 73 and 74 of the Act and extant Rules framed
thereunder during the financial year 2024-25 and, as such, no amount
on account of principal or interest on deposits from public was
outstanding as on the date of this report.

Significant and Material Orders passed by the Regulators or
Courts or Tribunals impacting the going concern status and
Company’s operations in future

Considering the slump sale of Business, there were no significant
and material orders passed by the Regulators or Courts or Tribunals
impacting the going concern status and Company's operations in
future. However, some material orders passed are disclosed in the
disclosures part of Corporate Governance Report of the Company.

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.

The Company has not made any one-time settlement for loans taken
from the Banks or Financial Institutions during the financial year under
review. Therefore, it is not applicable.

Disclosure requirements

• Details of the familiarization programme of the independent
directors are available on the website of the Company (URL:
https://www.neclife.com/about-3-11).

• Policy for determining material subsidiaries of the Company is
available on the website of the Company
(https://www.neclife.com/ files/ugd/6aa048 4d7e3d59872e4416a7a93371 bc898f7c.pdf).

• Policy on dealing with related party transactions is available on
the website of the Company (URL:
https://www.neclife.com/ files/ugd/6aa048 c454aa58de1 b40dca8c41354a7d5e7b5.pdf).

• The Whistle Blower Policy to provide Vigil Mechanism for

employees including directors is available on the website
of the Company (URL:

https://www.neclife.com/ files/ugd/6aa048 cafe48f72d7144a5928e793ccdbe532d.pdf).

Committee and Policy against Sexual Harassment of women at
Workplace

The company has complied with provisions relating to the constitution
of Internal Complaints Committee under the Sexual Harassment of
Women at Workplace (Prevention, Prohibition and Redressal) Act,
2013 (“POSH Act”).

The Company has made the Policy for Prevention of Sexual
Harassment (“POSH Policy”) under POSH Act for all individuals
working for the Company at all levels and grades, including senior
executives, officers, employees (whether permanent, fixed term or
temporary), consultants, contractors, trainees, staff, casual workers,
interns. As per policy any aggrieved woman employee who feels
and is being sexually harassed directly or indirectly may make a
complaint of the alleged incident to any member of the Committee
constituted for this purpose.

Disclosures in relation to the POSH Act:

a. number of complaints pending as on April 01,2024 - NIL

b. number of complaints filed during the FY 2024-25 - NIL

c. number of complaints disposed of during the FY 2024-25 - N.A.

d. number of complaints pending as on March 31,2025 - N.A.

e. number of cases pending for more than ninety days - N.A.
Compliance of the Maternity Benefit Act 1961

The Company is fully compliance with the provisions relating to the
Maternity Benefit Act 1961.

Energy, technology and foreign exchange

The particulars relating to conservation of energy, technology
absorption, foreign exchange earnings and outgo, as required to be
disclosed under the Act, are provided in Annexure 8 to this Report.

Acknowledgement

Your Directors would like to express their sincere and grateful
appreciation for the assistance and cooperation received from
bankers and government authorities and also thank the shareholders
for the confidence reposed by them in the Company and looking
forward to their valuable support in the future plans of the Company.

Your Directors also thank its agents, the medical professionals and
its customers for their continued patronage to the Company’s
products.

For and on behalf of the Board of Directors
of Nectar Lifesciences Limited

(Sanjiv Goyal)

Place: Chandigarh Chairman & Managing Director

Date: August 14, 2025 DIN: 00002841