Your Director have pleasure in presenting their Annual Report on the
business and operation of the company and the accounts for the
Financial year Ended 31^st March,2024.

FINANCIAL PERFORMANCE OF THE COMPANY :

The financial results for the year ended 31^st March, 2024 and the
corresponding figures for the last year are as under :-

(Rs. In Lacs)

STATE OF COMPANY'S AFFAIRS :

During the year under review, the Company has achieved total
revenue from operations of Rs. 81.39 Lacs in comparison to Rs. 87.92
Lacs in previous year. Your Company have loss for the year of Rs.
(166.07) Lacs in comparison of Loss of Rs. (2.69) Lacs in previous year.

DIVIDEND :

Considering the financial performance, your directors regret to
declare any dividend.

DIRECTORS'S RESPONSIBILITY STATEMENT:

The Directors' Responsibility Statement referred to in clause (c) of
Sub- section (3) of Section 134 of the Companies Act, 2013 shall state
that

1. in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper
explanation relating to material departures:

2. The director 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 and
of the profit and loss of the company for that period;

3. the director had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with
the provisions of this Act for safeguarding the assets of the
company and for preventing and detecting fraud and other
irregularities;

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

5. the directors, in the case of a listed company, had laid down
internal financial controls to be followed by the company and
that such internal financial controls are adequate and were
operating effectively.

6. the directors had devised proper system to ensure compliance

with the provisions of all applicable laws and that such system
were adequate and operating effectively.

CORPORATE GOVERNANCE

The Company has complied with the mandatory provisions on
Corporate Governance as prescribed in the Regulation 27 of SEBI
(Listing obligations and Disclosure Requirements) Regulations, 2015
with the Stock Exchanges. A separate report on Corporate
Governance as per schedule V {C} of SEBI (Listing obligations and
Disclosure Requirements) Regulations, 2015 is included as a part of
the Annual Report along with the Certificate on its compliance.

RELATED PARTY TRANSACTIONS

All related party transactions that were entered into during the
financial year were on an arm's length basis and were in the ordinary
course of business and that the provision of section 188 of the
Companies Act,1956 is not attracted.

All Related Party Transactions are placed before the Audit Committee
as also the Board for approval. Details of contracts/
arrangements/transactions with the related party are given in the
notes to financial statements.

CORPORATE SOCIAL RESPONSIBILITY

The Company has incurred losses during the last three years, so the
Company has not incurred any Corporate Social Responsibility
expenditure during the year under review.

However, a Corporate Social Responsibility committee consisting Shri
R.K. Tekriwal as the Chairman, Mr. Anil Waman Jog and Mr.
Vishwanath Kanungo, as member of the Committee. The board of
directors have approved a policy on CSR, which is displayed ion
company's website.

RISK MANAGEMENT AND ADEQUACY OF INTERNAL FINANCIAL
CONTROLS

The Company does not have risk management policy as the elements
of the risk threating the Company's existence are very minimal.

Details in respect of adequacy of internal financial controls with
reference to the Financial Statements are stated in Management
Discussion and Analysis which forms part of this report.

DIRECTORS

In terms of Section(s) 149, 152 and all other applicable provisions of
the Companies Act, 2013, for the purpose of determining the
directors liable to retire by rotation, the Independent Directors are
not included in the total number of directors of the Company.

Mrs. Meera Tekriwal(DIN 02014492), shall retire by rotation at the
ensuing Annual General Meeting and being eligible, has offered
herself for re-appointment as a Director of the Company. The Board
place on records its appreciation for valuable guidance and service
rendered by Mrs. Meera Tekriwal(DIN 02014492), to the Company
during his tenure.

DECLARATION BY INDEPENDENT DIRECTORS

Necessary declarations have been obtained from all the Independent
Directors under sub-section (7) of Section149 of the Companies Act,
2013.

MEETINGS

During the Financial year Five(5) Board Meetings and Four(4) Audit
Committee Meetings were convened and held. The details of which
are given in the Corporate Governance Report. The intervening gap
between the Meetings was within the period prescribed under the
Companies Act, 2013.

PERFORMANCE EVALUATION OF BOARD, COMMITTEE AND
DIRECTORS

Pursuant to the Provisions of the Companies Act, 2013 and as
stipulated under Chapter IV (17) (10) SEBI (Listing obligations and
Disclosure Requirements) Regulations, 2015, the Board of Directors
has carried out an annual evaluation of its own performance,
performance of its directors individually as well as the evaluation of
the working of its committees. The evaluation of all directors and the
Board as whole was conducted based on the criteria and framework
adopted by the Board.

The Directors were satisfied with the evaluation results, which
reflected overall engagement of the Board and its Committees with
the company.

AUDITORS AND AUDITOR REPORT

Pursuant to the provisions of section 139 and other applicable
provisions, if any, of Companies Act, 2013 read with Rule 3 of
Companies (Audit and Auditors) Rules, 2014, M/s. Arora & Co.,
Chartered Accountants, Auditor of the Company has tendered their
resignation from post of Auditor of the Company.

Hence, Pursuant to the provisions of section 139 and other applicable
provisions, if any, of Companies Act, 2013 read with Rule 3 of
Companies (Audit and Auditors) Rules, 2014, 2014 M/s JAIN GAUTAM
& CO., Chartered Accountants (FRN 021766C),, were appointed as
Auditor of the Company for period of 5 years (from conclusion of this
Annual General Meeting to the conclusion of sixth Annual General
Meeting of the Company, subject to ratification of their appointment
by members in every Annual General Meeting held thereafter on
such remuneration as may be fixed by the Board. .

A resolution proposing appointment of 2014 JAIN GAUTAM & CO.,
Chartered Accountants (FRN 021766C), as the Statutory Auditors of
the company pursuant to section 139 of the Companies Act, 2013
forms part of the Notice.

The notes on Financial Statements referred to in the Auditors Report
are self-explanatory and do not call for any further comments.

SECRETRIAL AUDITOR AND SECRETRIAL AUDIT REPORT

Pursuant to the provisions of Section 204 of the Companies Act, 2013
and the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, the Company has appointed Ms. Sydhanya
Sengupta, Company Secretary in Practice to undertake the
Secretarial Audit of the Company. The Report of the Secretarial Audit
Report is annexed herewith.

The Secretarial Audit report is self-explanatory.
SUBSIDIARYJOINTVENTURE AND ASSOCIATE COMPANY

There were no subsidiary, JV and associate Company.

PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS UNDER
SECTION 186

Details of Loans:

There were NIL loans given, investment made or guarantee given or
security provided as per the provisions of Section 186 of the
Companies Act, 2013 .

Deposit:

The Company has neither accepted nor renewed any deposits during
the year under review.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURE

Disclosures pertaining to remuneration and other details as required
under Section 197(12) of the Act read with Rule 5 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules,
2014 is not required.

EXTRACT OF ANNUAL RETURN

The Ministry of Corporate Affairs (MCA) has notified the Companies
(Management and Administration) Amendment Rules, 2020,
wherein the companies are no longer required to attach extracts of
Annual Return. In the Companies (Management and Administration)
Rules,

2014, in rule 12, in sub-rule (1), "provided that a company shall not be
required to attach the extract of the annual return with the Board's
report in Form No. MGT.9, in case the web link of such annual return
has been disclosed in the Board's report in accordance with sub¬
section (3) of section 92 of the Companies Act, 2013".

In compliance of the above amendment extract of the annual report
FY 2023-24 will available at: https://pithampurpoly.in/annual_return

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has a Vigil Mechanism/Whistle Blower Policy to deal
with instance of fraud and mismanagement, if any.

CODEOFCONDUCT

The Board has laid down a code of conduct for Board members &
Senior Management Personnel as per Regulation 17 & 26 (3) of the
Listing Regulations & has been posted on the website of the Company
(https://pithampurpoly.in/pdfs/codeofconduct.pdf )

All the Board members & Senior Management Personnel have
affirmed compliance with the said code of conduct for the year ended
31 March, 2023. A declaration to this effect, signed by the Managing
Director forms part of this Annual Report.

INSIDER TRADING

The Board has adopted the Insider Trading Policy in accordance with
the requirements of the SEBI (Prohibition of Insider Trading)
Regulations, 2015. The Insider trading Policy of the Company
covering code of practices and procedures for fair disclosure of
Unpublished Price Sensitive Information and Code of Conduct for the
prevention of Insider Trading has been posted on the website of the
Company.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
FOREGIN EXCHANGE EARNING AND OUTGO

The provisions of Section 134(m) of the Companies Act, 2013 do not
apply to our Company. There was no foreign exchange inflow or
Outflow during the year under review.

TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND
PROTECTION FUND

Your Company did not have any funds lying unpaid or unclaimed for a
period of seven years. Therefore there were no funds which were
required to be transferred to Investor Education and Protection Fund
(IEPF).

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

No significant or material orders were passed by the Regulators or
Courts or Tribunals which impact the going concern status and
Company's operations in future.

MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE
FINANCIAL POSITION OF THE COMPANY WHICH OCCURRED
BETWEEN THE END OF THE FINANCIAL YEAR OR THE COMPANY TO
WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE
REPORT

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

LISTING OF SHARES

The Company's shares are listed with BSE Limited.

INDUSTRIAL RELATIONS

The Company's industrial relations continued to be healthy, cordial
and harmonious during the period under review.

ENVIORMENT AND SAFETY

The Company is conscious of the importance of environment clean
and safe operations. The Company's policy required conducts of
operations in such a manner, so as to ensure safety of all concerned,
compliances environmental regulations and preservation of natural
resources.

GENERAL

Your Directors state that no disclosure or reporting is required in
respect of the following items as there were no transactions on these
items during the year under review:

a) Issue of equity shares with differential rights as to dividend,
voting or otherwise.

b) Issue of shares (including sweat equity shares) to employees of
the Company under any scheme.

c) Neither the Managing Director nor the Whole-time Directors of
the Company receive any remuneration or commission from its
subsidiary.

d) No significant or material orders were passed by the Regulators
or Courts or Tribunals which impact the going concern status and
Company's operations in future.

e) During the year under review, there were no cases filed or
reported pursuant to the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013.

ACKNOWLEDGEMENT

The Board desires to place on record its grateful appreciation for the
excellent assistance and co-operation received and continued
support extended to the Company by the bankers, investors,
suppliers and esteemed customers and other business associates.

Your Directors also wish to place on record their deep sense of
appreciation to all the employees of the Company for their
commitment and continued contribution in the performance of the
company.

By order of the Board

Place: Pithampur R.K.Tekriwal

Date: 30/05/2024 (Chairman & Managing Director)

DIN:00011492