The Board of Directors are pleased to present the Company's 37^thAnnual Report and the Company's Audited Financial
Statements for the Financial Year ended on 31^st March, 2025.

RESULTS OF OUR OPERATIONS

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

PERFORMANCE OF THE COMPANY

The turnover including other income of the Company for the Financial Year 2024-25 amounted to Rs. 12,709.73 Lakhs as
against last year's Rs. 10,802.24 Lakhs. The increase in turnover is approx. 17.66 % as compared to last year. The Profit
before exceptional items and tax is Rs. 353.23 Lakhs as against Rs. 121.59 Lakhs of last year. Profit for the year is Rs. 266.91
Lakhs as against Rs. 93.47 Lakhs of the last year. The net profit of the Company has increased approx three times of the profit
of previous financial year.

ANNUAL RETURN

As per the provisions of Section 92(3) read with Section 134(3) of the Act, Annual Return for the Financial Year ended on 31^st
March, 2025, in prescribed Form No. MGT 7 is available on the website of the Company
onhttps://www.purityflexpack.com/reports/Annual%20Return/01.%20Annual%20Return%202025.pdf.

DIVIDEND

In view of retain the resources and future expansion, your directors have not recommended dividend for the year ended 31^st
March, 2025.

SHARE CAPITAL

The Authorised Share Capital of the Company is Rs. 6,00,00,000/- (Rupees Six Crores Only) divided into 60,00,000 Equity
Shares of Rs. 10/- each.

There was no change in the capital structure of the Company during the Financial Year under review. The paid up Equity
Share capital as on 31^st March, 2025 was Rs. 1,07,34,000/-.

LISTING OF SHARES

The Company's shares are listed on BSE under Scrip Code 523315. The ISIN code of the Company is INE898O01010.
NATURE OF BUSINESS

There was no change in the nature of business during the Financial Year under review.

SUBSIDIARIES, ASSOCIATES & JOINT VENTURES

The Company does not have any Subsidiary, Associate &Joint Venture Company.

CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of Corporate Governance and adheres to the Corporate
Governance requirements set out by the Securities and Exchange Board of India (“SEBI”). The disclosures as required under
Schedule V to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are annexed as Annexure I of
this Annual Report. The requisite certificate from the Auditors of the Company confirming compliance with the conditions of
Corporate Governance is attached to the report on Corporate Governance.

NUMBER OF MEETINGS OF THE BOARD

The Board met five (5) times during the Financial Year. The meeting details are provided in the Corporate Governance Report
that forms part of this Annual Report. The maximum interval between any two meetings did not exceed 120 days, as
prescribed by the Companies Act, 2013.

COMMITTEES OF THE BOARD

As on 31^st March, 2025 the Board had three committees viz. the Audit Committee, the Nomination and Remuneration
Committee and the Stakeholders Relationship Committee. A majority of the committees consists entirely of independent
directors. During the year, all recommendations made by the committees were approved by the Board.

A detailed note on the composition of the Board and its committees is provided in the Corporate Governance Report.

DIRECTORS’ RESPONSIBILITY STATEMENT

The Financial Statements are prepared in accordance with the Indian Accounting Standards (Ind AS) under the historical cost
convention on accrual basis except for certain financial instruments, which are measured at fair values, the provisions of the
Companies Act, 2013 (to the extent notified) and guidelines issued by SEBI. The Ind AS are prescribed under Section 133 of
the Companies Act, 2013, read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies
(Indian Accounting Standards) Amendment Rules, 2016. Accounting policies have been consistently applied except where a
newly-issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in the
accounting policy hitherto in use.

The directors confirm that:

i. In preparation of the annual accounts for the Financial Year ended 31^stMarch, 2025, the applicable accounting
standards have been followed and there are no material departures.

ii. 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 and of the Profit of the Company for that period.

iii. They have taken proper and sufficient care towards the maintenance of adequate accounting records in accordance
with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities.

iv. They have prepared the annual accounts on a going concern basis.

v. They have laid down internal financial controls, which are adequate and are operating effectively.

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

REPORTING OF FRAUDS BY AUDITORS

During the year under review, neither the statutory auditors nor the secretarial auditor has reported to the Audit Committee,
under Section 143 (12) of the Companies Act, 2013, any instances of fraud committed against the Company by its officers or
employees, the details of which would need to be mentioned in the Board's report.

MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END OF THE
FINANCIAL YEAR AND DATE OF THE REPORT

There have been no material changes and commitments, which affect the financial position of the Company, that have
occurred between the end of the Financial Year to which the Financial Statements relate and the date of this report.

POLICY ON DIRECTORS’ APPOINTMENT AND REMUNERATION

The current policy is to have an appropriate mix of executive, non-executive and independent directors to maintain the
independence of the Board, and separate its functions of governance and management. As of 31^st March, 2025, the Board
had eight members, two of whom are executive directors, two non-executive and non-independent directors and four
independent directors. There is one Woman director on the Board. The policy of the Company on directors' appointment and
remuneration, including the criteria for determining qualifications, positive attributes, independence of a director and other
matters, as required under Sub-section (3) of Section 178 of the Companies Act, 2013, is available on our website,
atwww.purityflexpack.com. We affirm that the remuneration paid to the directors is as per the terms laid out in the Nomination
and Remuneration Policy of the Company.

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

There was no qualifications, reservations or adverse remarks made by the either by the Auditors or by the Practicing
Company Secretary in their respective reports.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

Loans, guarantees and investments covered under Section 186 of the Companies Act, 2013 form part of the Notes to the
Financial Statements provided in this Annual Report.

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

The particulars, as prescribed under Sub-section (3)(m) of Section 134 of the Companies Act, 2013, read with the Companies
(Accounts) Rules, 2014, are enclosed as Annexure II to the Board's report.

MANAGEMENT DISCUSSION AND ANALYSIS

In terms of the provisions of Regulation 34 of the Listing Regulations, the Management Discussion and Analysis is set out as
Annexure III of this Annual Report.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

Particulars of contracts or arrangements with related parties referred to in Section 188(1) of the Companies Act, 2013, in the
prescribed Form AOC-2, is appended as Annexure IV.

STATE OF COMPANY’S AFFAIRS

The Company is engaged in the business of packaging. There is no change in the business of the Company during the
Financial Year ended 31^st March, 2025. Further information on the business overview and outlook and state of the affairs of
the Company is discussed in detail in the Management Discussion & Analysis.

CORPORATE SOCIAL RESPONSIBILTY

Since the Company does not qualify any of the criteria as laid down in Section 135(1) of the Companies Act, 2013 with regard
to Corporate Social Responsibility, provisions of Section 135 are not applicable to the Company.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the provisions of the Act and the Articles of Association of the Company, Mrs. Vaishali Amin and Mrs.
Kokila Patel, Directors of the Company, retires by rotation at the ensuing AGM. The Board of Directors, on the
recommendation of the Nomination and Remuneration Committee has recommended their re-appointment.

Ms. Ankita Shetty was appointed as a Company Secretary and Compliance Officer of the Company w.e.f. 7th March, 2025.
Ms. Matrikaa Sharma had resigned form the post of Company Secretary and Compliance Officer w.e.f. 20th December, 2024.
Further, Mr. Anil Patel had resigned from the post of Chief Executive Officerwith effect from 27th May, 2025 and Mr. Kunal
Patel was further graded as Chief Executive Officer in his place with effect from 28th May, 2025. Mr. Jayesh Shah was
appointed as Director and Chief Financial Officer of the Company w.e.f. 28th May, 2025.

DECLARATION BY INDEPENDENT DIRECTORS

The Company has received necessary declaration from each independent director under Section 149(7) of the Companies
Act, 2013, that he / she meets the criteria of independence laid down in Section 149(6) of the Companies Act, 2013 and
Regulation 25 of the Listing Regulations.

The Board of Directors further confirms that the Independent Directors also meet the criteria of expertise, experience, integrity
and proficiency in terms of Rule 8 of the Companies (Accounts) Amendment Rules, 2019.

FORMAL ANNUAL EVALUATION

The Company has a policy for performance evaluation of the Board, Committees and other Individual Directors (including
Independent Directors) which include criteria for performance evaluation of Non-Executive Directors and Executive Directors.

In accordance with the manner specified by the Nomination and Remuneration Committee, the Board carried out annual
performance evaluation of the Board, its Committees and Individual Directors. The Independent Directors carried out annual
performance evaluation of the Chairperson, the non-independent directors and the Board as a whole. The Chairman of the
respective Committees shared the report on evaluation with the respective Committee members. The performance of each
Committee was evaluated by the Board, based on report on evaluation received from respective Committees. A consolidated
report was shared with the Chairman of the Board for his review and giving feedback to each Director.

RISK MANAGEMENT POLICY

The Company has a well defined process in place to ensure appropriate identification and mitigation of risks. The Risk
Management has been entrusted by the Board with the responsibility of identification and mitigation plans for ongoing
operations of the Company. Elements of risks to the Company are listed in the notes to the Financial Statements.

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.

CODE OF CONDUCT

The code of conduct has been put on the Company's website www.purityflexpack.com. The members of the board and senior
management personnel have affirmed the compliance with the Code applicable to them during the year ended 31^stMarch,
2025. The Annual Report contains declaration to this effect signed by Mr. Anil Patel - Chief Executive Officer (MD)of the
Company.

AUDITORS AND AUDITORS’ REPORT

A. Statutory Auditors

The Company's Statutory Auditors, M/s. Shah Mehta and Bakshi, Chartered Accountants (Firms' Registration No: 203824
W),) were appointed as Statutory Auditors of the Company for a period of five consecutive years at the 34^thAnnual
General Meeting held on 25^th June, 2022 on a remuneration mutually agreed upon by the Board of Directors based on the
recommendation of the Audit Committee and the Statutory Auditors.

The requirement of seeking ratification of members for continuing the appointment of Statutory Auditors at every AGM was
withdrawn by the Companies (Amendment) Act, 2017 w.e.f. May 7, 2018.

M/s. Shah Mehta and Bakshi, Chartered Accountants have confirmed that they are eligible and are in compliance with the
provisions specified under Section 141(3)(g) of the Act and they are not disqualified to act as Statutory Auditors in terms of
the provisions of Sections 139 and 141 of the Act and the Companies (Audit and Auditors) Rules, 2014.

The Report of the Statutory Auditor forming part of the Annual Report does not contain any qualification, reservation,
adverse remark or disclaimer. The observations made in the Auditors' Report are self-explanatory and therefore do not
call for any further comments.

B. Secretarial Auditors

The Board had appointed Mr. Devesh R. Desai, Practicing Company Secretary, to conduct a secretarial audit for the
Financial Year 2024-25. The Secretarial Audit Report for the Financial Year ended 31^st March, 2025 is attached herewith
as Annexure V. The Secretarial Audit Report does not contain any qualification, reservation, or adverse remark.

C. Cost Auditors

In terms of Section 148 of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014, it is
hereby confirmed that the cost accounts and records are made and maintained by the Company as specified by the
Central Government under sub-section (1) of Section 148 of the Companies Act, 2013.

The Board of Directors at its meeting held on 24^th May, 2025 has appointed M/s. Chetan Gandhi and Associates, Cost
Accountants (FRN. 101341), as the Cost Auditors for conducting the Cost Audit for the Financial Year 2025-26. As
required under the Act, the remuneration payable to the cost auditor is required to be placed before the members in a
general meeting for their ratification.

The Cost Audit report for the Financial Year ended 31^stMarch 2025; after being taken on record by the Board shall be filed
with MCA within the stipulated time.

PARTICULARS OF EMPLOYEES

The information required pursuant to Section 197 read with Rule 5 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 in respect of employees of the Company, will be provided upon request. In terms of
Section 136 of the Act, the reports and accounts are being sent to the members and others entitled thereto, excluding the
information on employees' particulars which 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 ensuing Annual General Meeting. If any
member is interested in inspecting the same, such member may write to the Compliance Officer in advance.

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

During the year under review, your Company has not received any complaint under the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013.

MATERNITY BENEFIT PROVIDED BY THE COMPANY UNDER MATERNITY BENEFIT ACT 1961

The Company confirms that it has followed the Maternity Benefit Act, 1961. All eligible women employees are eligible to get
the required benefits, including paid leave, continued salary and service, and post-maternity support like nursing breaks and
flexible work options.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

In terms of Section 177(9) of the Companies Act, 2013, Rules framed there under and Regulation 22 of the SEBI Listing
Regulations, the Company has put in place a system through which the Directors and Employees may report concerns about
unethical behavior, actual or suspected fraud or violation of the Company's Code of Conduct & Ethics without fear of reprisal.
The Employees and Directors may report to the Compliance Officer and have direct access to the Chairman of the Audit
Committee. The Whistle Blower Policy is placed on the website of the Company www.purityflexpack.com.

COMPLIANCE CERTIFICATE

The CEO and CFO have certified to the Board with regard to the Financial Statements and other matters as required under
Regulation 17(8) read with Part B of Schedule II to the SEBI Listing Regulations.

INSURANCE

All the properties of the Company have been adequately and appropriately insured.

ACKNOWLEDGMENTS

Your directors place on record their deep appreciation to all the employees of the Company for their whole-hearted efforts as
well as collective dedication, commitment and contribution, which is vital in achieving the overall growth of the Company.

Your directors would also like to thank the vendors, suppliers, bankers, financial institutions, employee unions, members,
customers, dealers, Government authorities, Regulatory authorities, stock exchanges and all other business associates,
consultants' and other stakeholders for their continued cooperation and support extended to the Company and the
Management.

We look forward to continued support of all these associates in the future.

On behalf of the Board
For Purity Flexpack Limited

Anil Patel

Place: Vanseti Chairman & Managing Director

Date: 24^th July, 2025. DIN :00006904