The Directors presents the Thirty-Fourth Annual Report of the Company and the Audited Statements of Accounts for the
financial year ended 31^st March, 2025.

1. Financial Summary or highlights/performance of the Company:

The financial highlights of the Company, for the year ended 31^st March, 2025 is summarized below:

During the year under review, there was no revenue from operational activity. The Company has stopped its production activities
since Jan 2018. The Company has suffered a loss of Rs. 31.56 lakhs /-in the financial year 2024-25.

Further due to financial crunch, the Company could not repay the working capital loan (secured) to Punjab National Bank and
Bank of India, accordingly the accounts of the Company has been classified as non-performing assets by the respective banks
with effect from 31^st March, 2016. Pending confirmation received of the amount payable to Banks, the Company has not
provided for interest payable in the financial statement till 31^st March, 2025, since the same is not quantifiable and accordingly
the loss for the year is understated to that extent.

The Management of the Company has been putting in its best efforts to reduce the loss and is hopeful for better results in the
coming years.

2. Dividend:

In view of loss incurred by the Company, your Directors do not recommend any dividend for the financial year ended 2024-25.

3. Reserves:

The Board does not propose to carry any amounts to reserves.

4. Brief description of the Company's working during the year/ state of Company's affair:

The Company has currently stopped production of Jewellery. Due to fierce competition and adverse market conditions, the
business could not survive. However, the management is putting in every effort to revive the business.

5. Change in the nature of business, if any:

During the year there was no change in nature of business.

6. Material changes and commitments, if any, affecting the financial position of the Company which have occurred between
the end of the financial year of the Company to which the financial statements relate and the date of the report:

No material changes have occurred subsequent to the close of the financial year of the Company to which the balance sheet
relates and the date of the report.

7. Details of significant and material orders passed by the regulators or courts or tribunals impacting the going concern status
and Company's operations in future:

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, the management hereby informs that the Bank accounts of the Company have been freezed by the Dy. Commissioner
of Sales Tax, Maharashtra since March 22, 2021. Further, due to freezing of bank accounts, the Company could not pay the
Annual Listing Fees to BSE Limited and consequently, the trading in securities of the Company is suspended by BSE Limited due
to non-payment of Annual Listing Fees w.e.f. July 12, 2022 and demat accounts of the promoters and promoter group have been
freezed.

8. Details of Holding/Subsidiary/Joint Ventures/Associate Companies:

The Company did not have any Holding/Subsidiary Company/Joint Venture/Associate Company during the year under review.
Accordingly, the following disclosures are not applicable:

• Form AOC-1 pursuant to first proviso to sub-section (3) of section 129 of the Companies Act, 2013 read with rule 5 of
the Companies (Accounts) Rules, 2014) under section 134 of the Companies Act, 2013, in Form AOC - 1.

• Highlights of performance of subsidiaries, associates and joint venture companies and their contribution to the overall
performance of the Company pursuant to Rule 8(1) of the Companies (Accounts) Rules, 2014) under section 134of the
Companies Act, 2013.

• Receipt of commission from any holding company or subsidiary company by a Director of the Company.

9. Statutory Auditors:

M/s. Ashok Bairagra & Associates, Chartered Accountants (Firm Registration No. 118677W) were appointed as the Statutory
Auditors of the Company to hold office for a period of five consecutive years starting from the conclusion of the Thirty First
Annual General Meeting (AGM) held on 30^th September, 2022 until the conclusion of the Thirty Sixth AGM of the Company to
be held in the year 2027.

10. Auditors Report:

There is an observation/ qualification contained in the Auditors' Report The management's reply to the observation of the
Statutory Auditor is as under:

11. Reporting of fraud by statutory auditors:

During the year under review, there were no instances of material or serious fraud falling under Section 143 (12) of Companies
Act, 2013 and Rule 13(1) of the Companies (Audit and Auditors) Rules, 2014, by officers or employees reported by the Statutory
Auditors of the Company during the course of the audit.

12. Management Discussion and Analysis:

The Management Discussion and Analysis Report for the financial year under review as stipulated under Regulation 34 of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations ("Listing Regulations") is annexed as a part of this Annual
Report as Annexure 1.

13. Annual Return:

Pursuant to Section 92(3) and 134(3)(a) of the Companies Act, 2013 read with Rule 12(1) of the Companies (Management and
Administration) Rules, 2014, the Annual Return in Form MGT-7 for the year ended 31^st March, 2025, is placed on website of the
Company, at the following https://neoeemindia.com/pdf/Form-MGT-7-March-31-2025.pdf and which shall be treated as part
of this Report.

14. Conservation of energy, technology absorption and foreign exchange earnings and outgo:

The information required under Section 134(3)(m) of the Companies Act, 2013, read with the Companies (Accounts) Rules, 2014
with respect to conservation of energy, technology absorption & foreign exchange earnings / outgo is given below:

A. Conservation of energy:

i. The steps taken or impact on conservation of energy:

Though our operations are not energy- intensive, efforts have been made to conserve energy by utilizing energy- efficient
equipments.

ii. The steps taken by the Company for utilising alternate sources of energy:

The Company is using electricity as the main source of energy and is currently not exploring any alternate source of energy.

iii. The capital investment on energy conservation equipments:

N.A.

B. Technology absorption:

i. The efforts made towards technology absorption:

The Directors are in constant touch with ongoing research to upgrade and absorb improved technology for better line of
products and to yield better quality, cost reduction.

ii. The benefits derived like product improvement, cost reduction, product development or import substitution:

Utilisation of indigenous raw material has led to cost reduction.

iii. In case of imported technology (imported during the last three years reckoned from the beginning of the financial year):
No technology has been imported by the Company.

iv. The expenditure incurred on Research and Development: Nil

C. Foreign exchange Earnings and Outgo:

1. The Company is engaged in activates relating to exports and taking measures for increasing exports, developing new export
markets for production and formulating export plans.

2. Total foreign exchange used and earned:

15. Directors and Key Managerial Personnel:

A. Changes in Directors and Key Managerial Personnel:

During the review, the Board of Directors of the Company have re-appointed Mr. Gaurav Doshi (DIN: 00166703), as the
Managing Director and Mr. Ronak Doshi (DIN: 00102959), as the Whole-time Director of the Company for a further period of
five years with effect from 01^st April, 2025 and recommends the same to the members for their approval by way of a ordinary
resolution.

Further, in accordance with the provisions of the Companies Act, 2013 read with the applicable rules thereto, including any
statutory modification(s) or re-enactment thereof for the time being in force ('the Act'), Mr. Gaurav Doshi (DIN: 00166703), who
is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offers himself for appointment.

Brief resume of the directors proposed to be re-appointed and relevant information including nature of his expertise in specific
functional areas, qualifications, terms of appointment, details of remuneration, names of the Companies in which he holds
directorship and the memberships/chairmanships of Committees of the Board, his shareholding in the Company, etc., as
stipulated under the Listing Regulations and Secretarial Standards have been furnished separately in the Notice convening this
AGM.

Apart from the above-mentioned changes, there were no changes in the composition of the Board during the year under review.

B. Statement on Independent Directors' declaration and disclosure of disqualification by the Directors:

The Company has received the declaration u/s 149(7) of the Act from the Independent Director, Mrs. Renu Kathuria (DIN:
01669882) of the Company confirming that she meets the criteria of Independence as prescribed both under the Act and the
Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015 (Listing
Regulations) and in the opinion of the Board of Directors, the Independent Director fulfill the criteria of independence as
provided under the Act, rules made thereunder, read with the Listing Regulations and that she is independent of the
management. In terms of Section 150 of the Companies Act, 2013 read with Rule 6 of the Companies (Appointment and
Qualification of Directors) Rules, 2014, Independent Director of the Company has confirmed that she has registered herself with
the databank maintained by The Indian Institute of Corporate Affairs at Manesar (IICA).

C. Board Evaluation:

Pursuant to the provisions of the Companies Act, 2013 and Listing Regulations, the Board has carried out an annual performance
evaluation of its own performance, of individual Directors as well as the evaluation of the working of its Audit, Nomination &
Remuneration and Stakeholders' Relationship Committees. The Directors were evaluated on aspects such as attendance and
contribution at Board and Committee meetings, communicating inter se board members and guidance and support to the
management outside Board and Committee meetings. The Board approved the evaluation results as collated by the Nomination
and Remuneration Committee.

D. Directors:

i. Independent Director:

In accordance with the criteria suggested by the Nomination and Remuneration Committee, the performance of the
independent director was evaluated by the entire Board of Directors (in the absence of the director getting evaluated) on various
parameters like engagement, leadership, analysis, decision making, communication, governance, interest of stakeholders, etc.
The Board was of the unanimous view that the Independent Director was a reputed professional and brought her rich experience
to the deliberations of the Board. The Board also appreciated the contribution made by the Independent Director in guiding the
management to achieving higher growth and continuance of the independent director on the Board will be in the interest of the
Company.

ii. Non-Independent Directors:

The performance of all the non-independent directors was evaluated by the Independent Directors at their separate meeting.
Further, their performance was also evaluated by the Board of Directors. The various criteria considered for the purpose of
evaluation included leadership, engagement, transparency, analysis, decision making, functional knowledge, governance,
stakeholders etc. The Board was of the unanimous view that all the non-independent directors were providing good business
and people leadership.

iii. Familiarization Programme to Independent Directors:

Since the company comes under the exception case as per Regulation 15(2) SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015, the Company does not have to conduct such programme. However, on appointment of any
Director as well as in every Board Meeting, the Directors are periodically updated about the business model, their roles and
responsibilities as well as financial position and workings of the Company.

16. Details of Committees of the Board:

Currently, the Board has 3 Committees: the Audit Committee, Nomination and Remuneration Committee and Stakeholders'
Relationship Committee.

A. i. Audit Committee:

The Board has constituted an Audit Committee comprising of Mrs. Renu Kathuria (DIN: 01669882), Independent Director as the
Chairperson of the Committee, Mr. Ronak Doshi (DIN: 00102959), Whole- Time Director and CFO and Mr. Gaurav Doshi (DIN-
00166703), Managing Director as the members of the Committee as at 31^st March, 2025.

The recommendations of the Audit Committee are always welcomed and accepted by the Board hence there is no further
explanation to be provided for, in this Report and all the major steps impacting the financials of the Company are undertaken
only after the consultation of the Audit Committee.

A. ii. Details of establishment of vigil mechanism for directors and employees:

The Company has established vigil mechanism pursuant to Section 177(9) of the Companies Act, 2013 for Directors and
Employees to report their genuine concerns / instances of any unethical / improper activity, directly to Mrs. Renu Kathuria (DIN:
01669882), Chairperson of the Audit Committee, as a Protected Disclosure and has also taken steps to safeguard any person
using this mechanism from victimization and in appropriate and exceptional cases.

B. Nomination and Remuneration Committee:

The Nomination and Remuneration Committee comprises of Mrs. Renu Kathuria (DIN: 01669882), Independent Director as the
Chairperson of the Committee, Mr. Ronak Doshi (DIN: 00102959), Whole- Time Director and CFO and Mr. Gaurav Doshi (DIN-
00166703), Managing Director as the members of the Committee as at 31^st March, 2025. The Committee has framed a policy to
determine the criteria and qualification for appointment of Directors, positive attributes, independence of Director, attributes
for appointment and basis of determination of remuneration and performance evaluation of all the Directors, Key Managerial
Personnel and other employees and methods for their sustainability. The detailed policy is also posted onto the website of the
Company at the http://www.neogemindia.com/pdf/Nomination-and-Remuneration-Policy.pdf

C. Stakeholder's Relationship Committee:

The Stakeholder's Relationship Committee comprises of Mrs. Renu Kathuria (DIN 01669882), Independent Director as the
Chairperson of the said Committee and Mr. Ronak Doshi (DIN:00102959), Whole-time Director and Mr. Gaurav Doshi (DIN-
00166703), Managing Director are the members of the Committee as at 31^st March, 2025. The role of the Committee is to
consider and resolve securities holders' complaint. The meetings of the Committee are held once in a quarter and the complaints
are responded within the time frame provided.

17. Secretarial Auditor and its 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 Board of Directors have appointed M/s Hemanshu Kapadia & Associates, Company
Secretaries in Practice to undertake the Secretarial Audit of the Company for FY 2024-25. The Report of the Secretarial Auditor
is annexed herewith as Annexure 2. The management's replies to the observations of the Secretarial Auditors are as under:

18. Number of meetings of the Board of Directors:

The Board of Directors met four (4) times during the Financial Year. The intervening gap between any two meetings was not
more than prescribed days under the Companies Act, 2013. Details of dates of Board meeting are as under:

19. Particulars of loans, guarantees or investments under section 186:

During the year under review, the Company has not provided any loans, made investments, gave guarantees or
subscribed/purchased securities under Section 186 of the Companies Act, 2013.

20. Particulars of contracts or arrangements with related parties:

The Company, during the year, has not entered into any transaction, as specified under Section 188(1) of the Companies Act,
2014 with any related parties. Accordingly, the disclosure of Related Party Transactions to be provided under section 134(3)(h)
of the Companies Act, 2013, in Form AOC - 2 is not applicable.

21. Deposits:

The Company has neither accepted nor invited any deposit from the public within the meaning of Section 73 of the Companies
Act, 2013 read with the Companies (Acceptance of Deposit Rules) 2014.

The details of money accepted by the Company from the Directors and relative of Director during the period under review is
mentioned below:

22. Voting Rights of Employees:

During the year under review the company has not given loan to any employee for purchase of its own shares as per section 67
(3) (c) of Companies Act, 2013. Therefore, the Company is not required to make disclosure as per rule 16 (4) of Companies (Share
Capital and Debentures) Rules, 2014.

23. Disclosure Regarding Issue of Employee Stock Options:

The Company has not issued shares under employee's stock options scheme pursuant to provisions of Section Rule 12(9) of
Companies (Share Capital and Debenture Rules, 2014). So the question does not arise about voting rights not exercised by
employee.

24. Disclosure regarding issue of sweat equity shares:

The Company has not issued sweat equity shares pursuant to provisions of Section 54 read with Rule 8 of Companies (Share
Capital and Debenture Rules, 2014) during the financial year.

25. Directors' Responsibility Statement:

Pursuant to Sections 134(3)(c) & 134(5) of the Companies Act, 2013, the Board of Directors of the Company hereby confirm
that:

a) in the preparation of the Annual Accounts, the applicable Accounting Standards have been followed, along with proper
explanation relating to material departures, if any;

b) 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 and of the profit and loss of the Company for that period;

c) the Directors had taken proper and sufficient care for 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;

d) the Directors had prepared the annual accounts on a going concern basis;

e) the Directors had laid down internal financial controls to be followed by the Company & that such internal financial controls
are adequate and were operating effectively; and

f) 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.

26. Managerial Remuneration:

A. Details of the remuneration of each director to the median remuneration of the employees of the Company and other details
as required pursuant to Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are
not applicable as the Company does not have any employees on its payroll as at 31^st March 2025 and none of the Directors or
Key Managerial Personnel has drawn any remuneration during the financial year 2024-25.

B. Details of the top ten employees in terms of remuneration drawn falling within the preview of Section 197 of the Companies
Act, 2013, read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is not
applicable as the Company did not have any employee on its payroll.

27. Report on Corporate Governance:

As per the provisions of Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations,
2015, the provisions of Corporate Governance are not applicable to your Company. Thus, the Company is not required to annex
a Report on Corporate Governance.

28. Corporate Social Responsibility (CSR):

In line with the provisions of the Companies Act, 2013 and the rules framed there under with respect to the Corporate Social
Responsibility (CSR), your Company is not governed by the provisions of Section 135 of the Companies Act, 2013 and Companies
(Corporate Social Responsibility Policy) Rules, 2014. So, the Company is not required to formulate a policy on CSR and was not
required to constitute a CSR Committee.

29. Risk Assessment and Management:

Your Company has a well-defined Risk Management System in place, as a part of its good Corporate Governance practices. The
Board of Directors mitigates plans and reviews these risks from time to time and discusses the same in the Board meetings.

30. Internal Financial Control System and their Adequacy:

Internal Financial Controls are an integrated part of the risk management process, addressing financial and financial reporting
risks. The management exercises financial control on the operations through a well-defined budget monitoring process and
other standard operating procedures. In addition to the above, the Audit Committee and the Board specifically review the
Internal Control and Financial Reporting process prevalent in the Company. Assurance on the effectiveness of internal financial
controls is obtained through management reviews, control self-assessment and continuous monitoring by functional experts.
At the end of the period, the CFO gives a declaration in the appropriate format to certify that the financial statements prepared
are accurate and complete in all aspects and that there are no significant issues that can impair the financial performance of the
Company.

31. Secretarial Standards:

The Company complies with the Secretarial Standards 1 and 2 issued by Institute of Company Secretaries of India.

32. Disclosure under the Sexual Harassment of Women at work place (Prevention, Prohibition and Redressal) Act, 2013:

During the year under review, as the Company did not had any employee on it payroll, the Company was not required to
constitute the Internal Complaints Committee under Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013.

Further, your Directors state that during the year under review, the Company has not received any complaints and there we
were no cases filed/pending under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,
2013 as at 31^st March 2025

33. Maternity Benefit

In accordance with recently amended Companies (Accounts) Second Amendment Rules, 2025 dated 30^th May, 2025, the
Company states that as there were no employees on the payroll of the Company during the year, the provisions relating to
Maternity Benefit Act 1961 is not applicable to the Company.

34. Cost Audit:

The Company does not fall within the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Cost
Records and Audit) Rules, therefore no such records required to be maintained.

35. Other Disclosures/Reporting:

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) Names of the Companies who have become or ceased to be its Subsidiaries, joint ventures or associate companies during
the year.

c) Details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during
the year along with their status as at the end of the financial year.

d) 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.

36. Acknowledgements:

The Board of Directors expresses their deep gratitude for the co-operation and support extended to the Company by its
customers, suppliers, Bankers and various Government agencies. Your Directors also place on record the commitment and
involvements of the employees at all levels and look forward to their continuous co-operation.

For and on behalf of theBoard of Directors
Gaurav Doshi

Chairman & Managing Director
DIN-00166703

G-32, Gems&JewelleryComplex III,

Seepz (SEZ), Andheri (E), Mumbai-400 096
CIN: L36911MH1991PLC063357

Date: 30th August, 2025
Place: Mumbai