Your Company's Directors have pleasure in presenting their 33^rd Annual Report on the business and operations of the
Company and the Audited Accounts for the Financial Year ended 31^st March, 2025.

1. FINANCIAL SUMMARY/HIGHLIGHTS OF PERFORMANCE OF THE COMPANY:

Your Company has prepared the Financial Statements for the financial year ended March 31, 2025 under
Section 133 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 and the Financial
Statements relating to the previous financial year ended March 31, 2024.

2. PERFORMANCE:

Revenue from Operations of the Company had increased from 1310.33 Lakhs to 1787.40 Lakhs as compared to
previous year. The Board of Directors of the Company is continuously making efforts to augment the revenue
and to boost the intensification of the Company.

3. DECLARATION OF DIVIDEND & TRANSFER OF AMOUNT TO RESERVES:

The Board of Directors does not recommend declaration of dividend during the financial year 2024-25. The profit
amounting to 11.43 Lakhs is being transferred to Reserves during the financial year.

4. SHARE CAPITAL:

At present, the Company has only one class of shares - equity shares with face value of Re. 1/- each. The
authorized share capital of the company is Rs. 16,50,00,000/- (Rupees Sixteen Crore Fifty lakhs) divided into
16,50,00,000 (Sixteen Crore Fifty lakhs) equity shares of Re. 1/- (Rupee One) each. The paid up share capital of
the company is Rs. 10,03,46,990/- (Rupees Ten Crore Three lakhs Forty Six Thousand Nine Hundred Ninety)
divided into 10,03,46,990 (Ten Crore Three lakhs Forty Six Thousand Nine Hundred Ninety) equity shares of Re.
1/- (Rupees Ten) each.

5. DEPOSITS:

Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 and
the Companies (Acceptance of Deposits) Rules, 2014.

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

During the period under review, several energy conservation initiatives were adopted and were taken by the
Company. There are no plans to import any kind of technology for the project and hence information regarding its
absorption is not applicable. There was no research activities carried out during the year. In compliance with the
provisions of Section 134(3) (m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules,
2014, a statement containing information on conservation of energy, technology absorption, foreign exchange
earnings and outgo of the Company, in the prescribed format, is annexed to this Board's Report and marked as
ANNEXURE - I.

7. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY BETWEEN
END OF THE FINANCIAL YEAR AND THE DATE OF THE REPORT:

Subsequent to the end of the financial year on March 31, 2025 till date, there has been no material change and /
or commitment which may affect the financial position of the Company. Further, it is hereby confirmed that there
had been no change in the nature of business of the Company in the financial year 2024-25.

8. SIGNIFICANT AND MATERIAL LITIGATIONS / ORDERS:

During the year under review, there were no significant material orders passed by the Regulators / Courts and no
litigation was outstanding as on March 31, 2025, which would impact the going concern status and future
operations of your Company.

9. DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES:

The Company has no Subsidiary/Joint Ventures/Associate Companies.

10. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENT BY THE COMPANY:

Details of Loans, Guarantee and Investments, if any, covered under the provisions of Section 186 of the Act are
given in the notes to the Financial Statements.

11. MEETING OF BOARD OF DIRECTORS:

Your Company's Board is duly constituted which is in compliance with the requirements of the Companies Act,
2013, the Listing Regulations and provisions of the Articles of Association of the Company. Your Board has been
constituted with requisite diversity, wisdom and experience commensurate to the scale of operations of your
Company.

Board meeting dates are finalized in consultation with all directors and agenda papers backed up by
comprehensive notes and detailed background information are circulated well in advance before the date of the
meeting thereby enabling the Board to take informed decisions.

During the year under the review, 5 (Five) Board meetings were held, with gap between Meetings not exceeding
the period prescribed under the Companies Act, 2013 and Rules made thereunder.

12. WEBLINK OF ANNUAL RETURN:

Pursuant to Section 92(3) read with section 134(3)(a) of the Companies Act, 2013, copies of the Annual Returns of
the Company prepared in accordance with Section 92(1) of the Companies Act, 2013 read with Rule 11 of the
Companies (Management and Administration) Rules, 2014 are placed on the website of the Company and is
accessible at the web link: https://menamani.in/.

13. INSURANCE:

All the Properties of the Company are adequately insured.

14. RELATED PARTY TRANSACTIONS:

There were no materially significant related party transactions entered between the Company, Directors,
management, or their relatives.

All the contracts/arrangements/transactions entered in to by the Company with the related parties during the
financial year 2024-25 were in the ordinary course of business and disclosed in the financial statements.

Accordingly, particulars of contracts or arrangements with related parties referred to as disclosed in the financial
statements in section 188(1) in form AOC-2 is not provided.

The Company has formulated a policy on "Materiality of Related Party Transactions" and the same is on the
Company's website at https://menamani.in/.

The details of related party disclosure form a part of the notes to the financial statements provided in the annual
report.

15. DIRECTORATE AND KEY MANAGERIAL PERSONNEL:

The Board of Directors of your company has various executive and non-executive directors including Independent
Directors who have wide and varied experience in different disciplines of corporate functioning.

In accordance with the provisions of Section 152 of the Companies Act, 2013 and Articles of Association of the
Company, Mr. Swetank Madhuvir Patel (DIN: 00116551) retires by rotation at the ensuing Annual General
Meeting and being eligible in terms of Section 164 of the Act offers himself for re-appointment.

The Company had, pursuant to the provisions of Regulation 17(1)(b) of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 entered into with Stock Exchanges, Mr. Jayesh Jayantilal Pandya (DIN:
02030546), Mr. Vijay Thaker (DIN: 08847994), as an Independent Directors of the Company.

As required under Section 203 of the Companies Act, 2013, the Company has Mr. Swetank M. Patel (Managing
Director), Mr. Dinesh Bhanarkar (Chief Financial Officer) and Ms. Shruti Saurabh Madan (Company Secretary)
under Key Managerial Personnel of the Company.

All Independent Directors have given declarations that they meet the criteria of independence as laid down under
Section 149(6) of the Companies Act, 2013 and Regulation 16(1) (b) of the Listing Regulations. The Board of
Directors confirms that, in their opinion, the independent directors fulfil all the conditions specified in 149(6) of
the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and are
independent of the management.

Appointments:

Ms. Shruti Saurabh Madan was appointed as Company Secretary with effect from 1^st February 2025. No other
appointment of any Director or KMP was made during the year 24-25.

Resignations:

Mr. Harsh Shah has resigned from the Company with effect from 31^st March 2024. No other resignation from any
Director or KMP was received during the year 24-25.

16. EVALUATION OF BOARD, COMMITTEES AND DIRECTORS:

Pursuant to the provisions of the Companies Act and Regulation 17 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015, and Companies Act, 2013, the Board had carried out an annual performance
evaluation of its own, the Board Committees and of the Independent directors. Independent Directors at a
separate meeting evaluated performance of the Non-Independent Directors, Board as a whole and of the
Chairman of the Board.

The following were the Evaluation Criteria:

(a) For Independent Directors:

- Knowledge and Skills

- Professional conduct

- Duties, Role and functions

(b) For Executive Directors:

- Performance as Team Leader/Member.

- Evaluating Business Opportunity and analysis of Risk Reward Scenarios

- Key set Goals and achievements

- Professional Conduct, Integrity

- Sharing of Information with the Board

The Directors expressed their satisfaction with the evaluation process.

17. POLICY ON APPOINTMENT AND REMUNERATION OF DIRECTORS:

The Board has framed the policy on the recommendation of the Nomination & Remuneration Committee,
formulated criteria for determining Qualifications, Positive Attributes and Independence of a Director and also a
Policy for remuneration of Directors, Key managerial Personnel and senior management.

18. MANAGERIAL REMUNERATION

The Company had not paid any remuneration to Executive Directors or any sitting fees to Non-Executive Directors
for attending any meetings during the financial year ended 31^st March, 2025.

19. INDEPENDENT DIRECTORS' MEETING:

Independent Directors of the Company had met during the year under the review on 15^th March, 2025.

20. COMMITTEES OF THE BOARD:

There are currently Three Committees of the Board as enumerated hereunder:

I. Audit Committee

II. Nomination and Remuneration Committee

III. Stakeholders' Relationship Committee

Details of all the Committees along with their charters, composition and meetings held during the year, are
provided in the "Report on Corporate Governance", a part of this Annual Report.

21. AUDITORS:

A. Statutory Auditors

In terms of the provisions of Section 139 of the Companies Act, 2013 read with provisions of the Companies
(Audit and Auditors) Rules, 2014 as amended, M/s. N. S. Nanavati & Co, Chartered Accountants, Veraval (Firm
Registration No. 134235W) was appointed as Statutory Auditors of the Company for a consecutive period of 5
(Five) years from the conclusion of Annual General Meeting in the year 2023 till the conclusion of the Annual
General Meeting to be held in the year 2027.

The Report given by the appointed M/s. N. S. Nanavati & Co, Chartered Accountants, Veraval (Firm Registration
No. 134235W), Auditors on the financial statements for March 31, 2025 of the Company is part of the Annual
Report. The notes to the accounts referred to in the Auditors' Report are self-explanatory and therefore do not
call for any further comments.

There has been no qualification, reservation, adverse remark or disclaimer given by the Auditors in their Report.

B. Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with Rule 9 of Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed Chintan K.
Patel, Practicing Company Secretaries, Ahmedabad to conduct the Secretarial Audit of the Company for the
financial year 2024-25 and to submit Secretarial Audit Report in Form No. MR-3 is self-explanatory and therefore
do not call for any further comments.

The Secretarial Audit Report is annexed herewith as Annexure III are self-explanatory and therefore do not call
for any further comments.

During the year under review, the Company has generally complied with all the applicable provisions of the
Secretarial Standards.

Further, in terms of Section 204 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment
and Managerial Personnel) Rules, 2014, and Regulation 24A of the Securities and Exchange Board of India (Listing
and Disclosure Requirements) Regulations, 2015, the Board recommended appointment of Mr. Chintan K. Patel,
Practicing Company Secretary, Ahmedabad (having COP No. 11959 and Peer review No. 2175/2022), as the
Secretarial Auditor of the company for a term of 5 (five) consecutive years from FY 2025-26 till FY 2029-30, to
hold office from the conclusion of this Annual General Meeting (AGM) till the conclusion of AGM to be held in
the year 2030. Accordingly, the resolution seeking approval for the appointment of Secretarial Auditor by the
members of the company is included in the Notice of the ensuing Annual General Meeting.

22. INTERNAL FINANCIAL CONTROL SYSTEM AND COMPLIANCE FRAMEWORK:

In terms of Section 134 of the Companies Act 2013 and SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, the Company has an Internal Control System, appropriate with the size, scale and intricacy of
its operations. To maintain its objectivity and independence, the Internal Auditors report to the Audit Committee
of the Board. The Internal Auditors monitor and evaluate the efficacy and adequacy of internal control system, its
compliance with operating systems, accounting procedures and policies in the Company. Based on the report of
internal audit function, process owners undertake counteractive action in their respective areas and thereby
further strengthen the controls. Significant audit observations and corrective actions thereon are presented to
the Audit Committee from time to time. The Company has in place adequate internal financial controls
proportionate with the size and scale of the operations of the Company. During the period under review, such
controls were tested and no reportable material weakness in the design or operations were observed. The Board
has also put in place requisite legal compliance framework to ensure compliance of all the applicable laws and
that such systems are adequate and operating effectively.

23. RISK MANAGEMENT:

The Company has implemented an integrated risk management approach through which it reviews and assesses
significant risks on a regular basis to help ensure that there is a robust system of risk controls and mitigation in
place. Senior management periodically reviews this risk management framework to keep updated and address
emerging challenges. Major risks identified for the Company by the management are Currency fluctuation,
Compliances of various applicable Laws, Regulatory changes, Manufacturing & Supply, Litigation, Technological
Changes and new capital investments return. The management is however, of the view that none of the above
risks may threaten the existence of the Company as robust risk mitigation mechanism is put in place to ensure
that there is nil or minimum impact on the Company in case any of these risks materialize.

24. VIGIL MECHANISM AND WHISTLE BLOWER POLICY:

In accordance with Section 177 of the Companies Act, 2013 and Regulation 22 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Company has constituted a Whistle Blower Policy/Vigil
Mechanism to establish a vigil mechanism for the directors and employees to report genuine concerns in such
manner as may be prescribed and to report to the management instances of unethical behaviour, actual or
suspected fraud or violation of the Company's code of conduct. For this purpose, your Board adopted a Whistle
Blower Policy which has been uploaded on the website of the Company at https://menamani.in/.

25. PREVENTION OF INSIDER TRADING:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in
securities by the Directors and designated employees of the Company. The Code requires pre-clearance for
dealing in the Company's shares and prohibits the purchase or sale of Company shares by the Directors and the
designated employees while in possession of unpublished price sensitive information in relation to the Company
and during the period when the Trading Window is closed. The Company has adopted and amended its Code of
Conduct for Prevention of Insider Trading w.e.f. April 1, 2019 pursuant to Securities and Exchange Board of India
(Prohibition of Insider Trading) (Amendment) Regulations, 2018. The Company has also adopted a Policy and
Procedure for Inquiry in case of Leak of Unpublished Price Sensitive Information. The Board is responsible for
implementation of the Code of conduct for prevention of insider trading pursuant to SEBI (Prohibition of Insider
Trading) (Amendment) Regulations, 2018. All Board Directors and the designated employees have confirmed
compliance with the Code.

26. DIRECTORS' RESPONSIBILITY STATEMENT:

In accordance with the provisions of Section 134(5) of the Companies Act, 2013 and to the best of their
knowledge and belief and according to the information and explanations obtained by them, your Directors state
that-

i. In the preparation of the annual accounts, the applicable accounting standards had been followed along
with proper explanation relating to material departures;

ii. The directors had selected such accounting policies and applied them consistently and made judgments and
estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the
company at the end of the financial year 31^st March, 2025 and of the profit and loss of the company for that
period;

iii. The directors had taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of Companies Act, 2013 and Rules made thereunder for safeguarding the
assets of the company and for preventing and detecting fraud and other irregularities;

iv. The directors had prepared the annual accounts on a going concern basis; and

v. The directors had laid down internal financial controls to be followed by the company and that such internal
financial controls are adequate and were operating effectively.

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

27. CORPORATE GOVERNANCE:

As required by the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 entered into with
the Stock Exchanges, a detailed report on Corporate Governance is given as a part of the Annual Report. The
Company is in full compliance with the requirements and disclosures that have to be made in this regard. The
Company Secretary's Certificate of the compliance with Corporate Governance requirements by the Company is
attached to the Report on Corporate Governance. Report on Corporate Governance is given elsewhere in this
Annual Report, herewith attached as Annexure IV.

28. CORPORATE GOVERNANCE CERTIFICATE:

The Compliance certificate from the Practicing Company Secretary regarding compliance of conditions of
Corporate Governance as stipulated in Regulation 27 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 is appended to the report on Corporate Governance, attached herewith as Annexure V.

29. POLICY ON PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE:

The Company has adopted a Policy under the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 and Rules framed there under. The Company is committed to provide a safe
and secure environment to its women employees across its functions and other women stakeholders, as they are
considered as integral and important part of the Organization. The Company has assigned the responsibilities to
Audit Committee. During the year, no complaint with allegations of sexual harassment was filed with the
Company.

30. CORPORATE SOCIAL RESPONSIBILITY:

Pursuant to provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social
Responsibility Policy) Rules, 2014, every company with a Net Worth of Rs. 500 Crores or more OR an annual
turnover of Rs. 1000 Crores or more OR with a net profit of Rs. 5 Crores or more is required to constitute a CSR
Committee. At present, the Company is not required to constitute a CSR Committee in this regards as none of
the above referred limits have been triggered.

31. GENERAL SHAREHOLDER INFORMATION:

General Shareholder Information is given in Report on Corporate Governance forming part of the Annual Report.

32. MANAGERIAL REMUNERATION:

The Company has not paid any remuneration to Executive Directors or any sitting fees to Non-Executive
Directors for attending any meetings during the financial year ended March 31, 2025.

33. PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE:

As per the requirement of The Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal)
Act, 2013 ('Act') and Rules made thereunder, Company has assigned the responsibilities to Audit Committee. The
details of Complaint pertaining to sexual harassment are provided as under:

During the year under review, your Company has not received any complaint pertaining to sexual harassment.

34. COMPLIANCE WITH THE MATERNITY BENEFIT ACT, 1961:

The Company affirms that it is in full compliance with the provisions of the Maternity Benefit Act, 1961, as
amended from time to time. The Company is committed to fostering a supportive and inclusive work
environment, and ensures that all relevant policies and practices are regularly reviewed and aligned with the
applicable statutory requirements.

35. ACKNOWLEDGEMENT:

Your Board acknowledges and appreciates the relentless efforts of the employees, workmen and staff including
the management team at all levels in ensuring sustained growth of the Company.

Your Board wishes to place on record its deep appreciation of the Independent Directors and the Non-Executive
Directors of the Company for their immense contribution by way of strategic guidance, sharing of knowledge,
experience and wisdom, which help the Company to take right decisions in achieving its business goals.

Your Board is indebted for the unstinted support and trust reposed by the Members and also remains thankful
for their ongoing support and guidance.

The Board places on record its appreciation for the support and co-operation your Company has been receiving
from its suppliers, redistribution stockiests, retailers, business partners and others associated with the Company
as its trading partners. Your Company looks upon them as partners in its progress and has shared with them the
rewards of growth. It will be your Company's Endeavour to build and nurture strong links with the trade based
on mutuality of benefits, respect for and co-operation with each other, consistent with consumer interests.

Your Directors also sincerely thank to all the stakeholders, customers, vendors, bankers, business associates,
government, other statutory bodies and look forward to their continued assistance, co-operation and support.

Place: Ahmedabad For and on behalf of the Board

Date: 8^th September, 2025

SD/- SD/-

Swetank M. Patel Hina S. Patel
Managing Director Director

DIN:00116551 DIN:01987053