Your Directors have pleasure in presenting the 22^nd ANNUAL REPORT together with the Audited Financial Statements for
the Financial Year 2025-26 ended 31^st March, 2026.

1. FINANCIAL RESULTS AND OPERATIONS:

(Rs in lakh)

There are no material changes and commitment affecting the financial position of the Company which have occurred
between 1^st April, 2026 and date of this report.

During the year under review, the Company achieved turnover of Rs.25173.60 lakh as compared to Rs. 17758.47
lakh during 2024-25. The Company earned profit before interest, depreciation and tax of Rs. 7,117.56 lakh during as
compared to Rs. 5094.45 lakh during 2024-25. After providing for interest, depreciation and taxes, the net profit for
the year under review stood at Rs. 3048.46 lakh as compared to Rs. 1750.20 lakh during 2024-25.

2. DIVIDEND:

With view to conserve the financial resources for the future requirement of the Company, the Board of Directors has
not recommended any dividend for the year.

3. ALLOTMENT OF EQUITY SHARES ON PREFERENTIAL BASIS :

The Company,on 17^th June, 2025, allotted 3,00,000 Equity Shares (upon conversion of Warrants into equal number
of Equity Shares) of Rs. 10/- each at a premium of Rs. 374/- per share to Non-Promoters in compliance with the
provisions and guidelines under the Companies Act, 2013 and SEBI Regulations. The Company also obtained
approval of National Stock Exchange of India Limited (NSE) for listing and trading of the said Equity Shares in due
course of time.

The disclosure as required under Regulation 32(7A) of SEBI I ODR Regulations 2015 is as under:

Objects for which funds have been raised:

Post allotment of Equity Shares as aforesaid, the paid-up Capital of the Company stood at Rs.22,24,99,100/- divided
into 2,22,49,910 Equity Shares of Rs.10/- each as on date of this report. After the aforesaid conversions, no outstanding
warrants left for conversion as on the date of this report.

4. SHARE CAPITAL:

There have been no changes in Authorised Share Capital of the Company during the period under review. The
Authorised Share Capital of the Company as on 31^st March, 2026 was Rs. 25.00 Crore.

During the fiscal 2026, the Company allotted 3,00,000 Equity Shares of Rs. 10/- each at a premium of Rs. 374/- per
share to Non Promoters on 17^th June, 2025 pursuant to conversion of Warrants into Equity shares as stated above.
Post allotment, the paid-up Share Capital of the Company as on 31^st March, 2026 was Rs. 22.24 Crore.

As on 31^st March, 2026, the Company has not issued shares with differential voting rights nor granted stock options
nor sweat equity.

5. RESERVES:

The Company does not propose to transfer any amount to General Reserves.

6. DEMATERIALISATION OF EQUITY SHARES:

All the Equity Shares of the Company are in dematerialised form with either of the depository viz. NSDL and CDSL.
The ISIN allotted to the Company for Equity shares is INE732S01012.

7. DIRECTORS & KEY MANAGERIAL PERSONNEL & SENIOR MANAGEMENT:

7.1 One of your Directors viz. Ms. Visalakshi Chandramouli (DIN: 03594109) retires by rotation in terms of the
Articles of Association of the Company. However, being eligible offers herself for reappointment.

7.2 At the 21^st Annual General Meeting of the Company held on 23^rd September, 2025, Ms. Megha Samdani
(DIN:08956059), Ms. Reeya Kothari (DIN: 10312461) and Ms. Hiral Patel (DIN - 09719512) were appointed as
Independent Directors of the Company w.e.f. 25^th July, 2025 to hold their respective office for a term of 5 (five)
consecutive years from 25^thJuly, 2025 to 24^th July, 2030.

7.3 During the financial year 2025-26, Mr. Prashant C. Srivastav (DIN: 02257146), Mr. Shailesh B. Patel (DIN:
01835567) and Mr. Hemendrakumar C. Shah (DIN: 00077654) ceased to be an Independent Directors of the
Company upon completion of their terms on 23^rd September, 2025 on 23^rd September, 2025 and on 27^th
September, 2025 respectively. Ms. Rita S. Shah (DIN: 01515340) resigned from the post of Non- Executive
Director of the Company w.e.f. 27^th September, 2025. Further, Mr. Raviraj Karia was relieved from the post of
Senior Vice President (Finance & Accounts) ('SMP') of the Company whose resignation was accepted by HR
Committee of the Company on 27^th September, 2025.

7.4 The Company has received necessary declaration from each Independent Director of the Company under
Section 149(7) of the Companies Act, 2013 (the Act) that they meet with the criteria of their independence laid
down in Section 149(6) of the Act. The Independent Director shall enroll his / her name in the Databank, being
maintained by Indian Institute of Corporate Affairs to qualify as an Independent Director. The enrollment of
Independent Directors has been completed and they have furnished the declaration affirming their compliance
to the Board with the provisions contained under sub rule 1 & 2 of Rule 6 of Companies (Appointment &
Qualification of Directors) Rules.

7.5 Brief profile of the Directors who are being appointed or re-appointed as required under Regulations 36(3) of
Listing Regulations, 2015 and Secretarial Standard on General Meetings is provided in the notice for the
forthcoming AGM of the Company.

7.6 The Board of Directors duly met 5 times during the financial year under review.

7.7 Formal Annual Evaluation:

The Nomination and Remuneration Committee adopted a formal mechanism for evaluating the performance of
the Board of Directors as well as that of its Committees and individual Directors, including Chairman of the
Board, Key Managerial Personnel/ Senior Management etc. The exercise was carried out through an evaluation
process covering aspects such as composition of the Board, experience, competencies, governance issues
etc.

7.8 DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to the requirement of Section 134 of the Companies Act, 2013, it is hereby confirmed:

(i) that in the preparation of the annual accounts, the applicable accounting standards had been followed
along with proper explanation relating to material departures;

(ii) that 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 31^st March, 2026 being end of the financial year 2025-26 and of the profit of the Company for
the year;

(iii) That the Directors had taken proper and sufficient care for 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) that the Directors had prepared the annual accounts on a going concern basis.

(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.

8. INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY:

The Board has adopted policies and procedures for ensuring the orderly and efficient conduct of its business,
including adherence to the Company's policies, safeguarding of assets, prevention and detection of frauds and
errors, accuracy and completeness of the accounting records and the timely preparation of reliable financial
disclosures.

9 MANAGERIAL REMUNERATION:

The Board of Directors has framed a Remuneration Policy that assures the level and composition of remuneration is
reasonable and sufficient to attract, retain and motivate Directors, Key Managerial Personnel and Senior Management
to enhance the quality required to run the Company successfully. The Relationship of remuneration to performance
is clear and meets appropriate performance benchmarks. All the Board Members and Senior Management personnel
have affirmed time to time implementation of the said Remuneration policy.

The Nomination and Remuneration Policy is available on the Company's website www.sakarhealthcare.com

10. KEY MANAGERIAL PERSONNEL:

10.1 % INCREASE IN REMUNERATION OF DIRECTORS AND KMP:

10.2 COMPARISON BETWEEN REMUNERATION OF KMP & PERFORMANCE OF THE COMPANY:

As per the Remuneration Policy and based on the Recommendation of Nomination & Remuneration Committee
the Relationship of remuneration to KMP & performance of Company is clear and meets appropriate performance
benchmarks.

11. PERSONNEL AND H. R. D.:

11.1 INDUSTRIAL RELATIONS:

The industrial relations continued to remain cordial and peaceful and your Company continued to give ever
increasing importance to training at all levels and other aspects of H. R. D.

The number of Employees of the Company is 435. The relationship between average increase in remuneration
and Company's performance is as per the appropriate performance benchmarks and reflects short and long
term performance objectives appropriate to the working of the Company and its goals.

11.2 PARTICULARS OF EMPLOYEES:

There is no Employee drawing remuneration requiring disclosure under Rule 5(2) of Companies Appointment
& Remuneration of Managerial personnel) Rules, 2014.

12. PARTICULARS OF LOANS, GUARANTEES, INVESTMENT& SECURITIES PROVIDED:

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act,
2013 respectively are given in the notes to the Financial Statements attached to the Auditors' Report.

13. RELATED PARTY TRANSACTION AND DETAILS OF LOANS, GUARANTEES, INVESTMENT& SECURITIES
PROVIDED:

Details of Related Party Transactions and Details of Loans, Guarantees and Investments covered under the provisions
of Section 188 and 186 of the Companies Act, 2013 respectively are given in the notes to the Financial Statements
attached to the Auditors' Report.

All transactions entered by the Company during the financial year with related parties were in the ordinary course of
business and on an arm's length basis. During the year, the Company had not entered into any transactions with
related parties which could be considered as material in accordance with the policy of the Company on materiality of
related party transactions.

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 and rule 8(3) of Companies (Accounts)
Rules, 2014, relating to the conservation of Energy and Technology Absorption forms part of this report and is given
by way of Annexure- A.

15. CORPORATE GOVERNANCE AND MDA:

As per Regulation 34 (3) read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015,Report on Corporate Governance, Management Discussion and Analysis (MDA) and a certificate
regarding compliance with the conditions of Corporate Governance are appended to the Annual Report as Annexure
- B.

16. SECRETARIAL AUDIT REPORT:

In terms of Section 204 of the Companies Act, 2013, the Board of Directors of your Company had appointed M/s.
Kashyap R. Mehta & Partners, Practising Company Secretaries (Firm Registration No. P2025GJ106000), in casual
vacancy, as Secretarial Auditors of the Company to conduct Audit of secretarial records and compliances in accordance
with the provisions of Section 204 of the Companies Act, 2013 for the Financial Year 2025-26 ended on 31st March,
2026 pursuant to resignation received from previously appointed Secretarial Auditor i.e. M/s. Nishant Pandya &
Associates, Practising Company Secretaries (Firm Registration No. S2019GJ700100), Ahmedabad.

Accordingly, your Company has obtained Secretarial Audit Report as required under Section 204(1) of the Companies
Act, 2013 from M/s. Kashyap R. Mehta & Partners, Company Secretaries, Ahmedabad. The said Report is attached
with this Report as Annexure - C.

There are no remarks / qualification in the Secretarial Audit Report, hence no explanation has been offered.

The Company has also obtained consent from M/s. Kashyap R. Mehta & Partners, Practising Company Secretaries
to the effect that their appointment as Secretarial Auditors of the Company for period of 5 years i.e. for the Financial
Years 2026-27 to 2030-31, if made, will be in accordance with the provisions of Section 204 of the Companies Act,
2013 and based on the recommendation of the Audit Committee, in terms of Section 204 of the Companies Act, 2013
read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regulation 24A
of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(“SEBI Listing Regulations”), the Board of Directors has appointed M/s. Kashyap R. Mehta & Partners, Practising
Company Secretaries (Firm Registration No. P2025GJ106000) as Secretarial Auditors of the Company for a term of
five (5) consecutive years to conduct the Secretarial Audit of five consecutive financial years commencing from
financial year 2026-27 to 2030-31 subject to approval of shareholders/members.

The Shareholders/members are requested to consider and approve the appointment of the Secretarial Auditors of
the Company.

17. WEB ADDRESS OF ANNUAL RETURN:

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the draft Annual Return as on 31^st March, 2026 is
available on the Company's website www.sakarhealthcare.com.

18. AUDIT COMMITTEE/ NOMINATION AND REMUNERATION COMMITTEE/ STAKEHOLDERS' RELATIONSHIP
COMMITTEE:

The Board of Directors of the Company reconstituted the following Committees w.e.f. 27^th September, 2025.

A. Re-constitution of the Audit Committee with following as members w.e.f. 27^th September, 2025:

Further details about the above committees and their functions are part of Corporate Governance Report.

19. CORPORATE SOCIAL RESPONSIBILITY (CSR):

As per provisions of 135 of the Companies Act, 2013 and Rules made thereunder, the Company has a CSR
Committee of Directors and has laid down a CSR policy. The Board has re-constituted the Corporate Social
Responsibility Committee (CSR) w.e.f. 27^th September, 2025 with following as members:

Some of the core areas identified by the Committee are Education, Health, Environment, women empowerment,
Animal Welfare, Hunger etc.

ANNUAL REPORT ON CORPORATE SOCIAL RESPONSIBILITY:

As per Rule 8(1) of Companies (Corporate Social Responsibility Policy) Rules, 2014 the Annual Report on Corporate
Social Activities has been attached herewith as Annexure -D.

20. GENERAL:

20.1 AUDITORS:

STATUTORY AUDITORS:

The present Auditors of the Company M/s. J S Shah & Co., Chartered Accountants, Ahmedabad (Firm
Registration No. 132059W), were appointed as Statutory Auditors of the Company at the 18^th Annual General
Meeting for a period of 5 years i.e. for financial years 2022-23 to 2026-27. They continue to hold office as
Statutory Auditors till the conclusion of 23^rd AGM to be held in the year 2027.

The Auditors' Report for fiscal 2026 does not contain any qualification, reservation or adverse remarks. The
Report is enclosed with the financial statements in this Annual Report.

COST AUDITORS:

As per the requirement of Central Government and pursuant to Section 148 of the Companies Act, 2013 read
with the Companies (Cost Records and Audit) Rules, 2014 as amended from time to time, the Company has
been carrying out audit of cost records every year.

The Board of Directors, on the recommendation of Audit Committee, has appointed M/s. Dalwadi & Associates,
Cost Accountants, (Firm Registration Number 000338) as Cost Auditor to audit the cost accounts of the
Company for the financial year 2026-27.

As required under the Companies Act, 2013, a resolution seeking Shareholders' approval for the remuneration
payable to the Cost Auditor forms part of the Notice convening the Annual General Meeting for their ratification.

20.2 INSURANCE:

The Company's properties including building, plant and machinery, stocks, stores etc. continue to be adequately
insured against risks such as fire, riot, strike, civil commotion, malicious damages, machinery breakdown etc.

20.3 DEPOSITS:

The Company has not accepted during the year under review any Deposits and there were no overdue
deposits.

20.4 RISKS MANAGEMENT POLICY:

The Company has a risk management policy, which from time to time, is reviewed by the Audit Committee of
Directors as well as by the Board of Directors. The Policy is reviewed quarterly by assessing the threats and
opportunities that will impact the objectives set for the Company as a whole. The Policy is designed to provide
the categorization of risk into threat and its cause, impact, treatment and control measures. As part of the Risk
Management policy, the relevant parameters for protection of environment, safety of operations and health
of people at work are monitored regularly with reference to statutory regulations and guidelines defined by
the Company.

20.5 SUBSIDIARIES/ ASSOCIATES/ JVS:

The Company does not have any Associate / JVs.

The Company has a Subsidiary namely Sakar Oncology Private Limited. Further, a statement containing the
salient feature of the financial statement of Subsidiary company under the first proviso to sub-section (3) of
section 129 is appended as Annexure - E. Apart from this, the Company does not have any Subsidiary.

20.6 CODE OF CONDUCT:

The Board of Directors has laid down a Code of Conduct applicable to the Board of Directors and Senior
Management. All the Board Members and Senior Management personnel have affirmed compliance with the
code of conduct.

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

There have been no significant and material orders passed by any regulators or courts or tribunals, impacting
the going concern status of the Company and its future operations.

20.8 ENVIRONMENT AND SAFETY:

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

20.9 DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION & REDRESSAL) ACT, 2013:

The Company has in place an Anti-Sexual Harassment Policy, in line with the requirements of the Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. During the year
under review, the Company did not receive any complaint as under:

20.10 GRATUITY:

The Company has made necessary provisions for the payment of Gratuity.

20.11 INSTANCES OF FRAUD, IF ANY REPORTED BY THE AUDITORS:

There have been no instances of fraud reported by the Auditors under Section 143(12) of the Companies Act,
2013.

20.12 SECRETARIAL STANDARDS:

The Company complies with the Secretarial Standards, issued by the Institute of Company Secretaries of
India, which are mandatorily applicable to the Company.

20.13 There is no proceeding pending under the Insolvency and Bankruptcy Code, 2016.

20.14 There was no instance of onetime settlement with any Bank or Financial Institution.

20.15. With respect to the loans advanced by the Directors to the Company, the Company has received necessary
declarations from Directors that the said loan is not given out of funds acquired by them by borrowing or
accepting loans or deposits from others.

20.16 No agreements have been entered / executed by the parties as mentioned under clause 5A of paragraph A
of Part A of Schedule III of SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015 which,
either directly or indirectly effect / impact the Management or Control of the Company or impose any restriction
or create any liability upon the Company.

20.17 VIGIL MECHANISM/ WHISTLE-BLOWER POLICY:

The Company has a Whistle-blower Policy in place and aligns with the requirements of vigil mechanism
under the Companies Act, 2013 and Regulation 22 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015. This Policy provides for adequate safeguards against victimization of persons who
complain under the mechanism and provides for direct access to the Chairperson of the Audit Committee.
The Audit Committee of the Company oversees the functioning of the Vigil Mechanism framework.

The Whistle Blower Policy is available on the Company's website at www.sakarhealthcare.com.

20.18 ANNUAL SECRETARIAL COMPLIANCE REPORT:

The Company, pursuant to Regulation 24A of SEBI Listing Regulations, obtained an Annual Secretarial
Compliance Report from M/s. Kashyap R. Mehta & Partners, Practising Company Secretaries. The said
report has been submitted to the Stock Exchange within the prescribed timelines during the reporting period.

21. INSIDER TRADING POLICY:

As required under the Insider Trading Policy Regulations of SEBI, your Directors have framed and approved Insider
Trading Policy for the Company i.e. 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price
Sensitive Information' and 'Code of Conduct for Regulating Monitoring and Reporting of Trading by Designated
Persons/Insiders'. The Policy is available on the company's website.

22. DISCLOSURE OF ACCOUNTING TREATMENT:

In the preparation of the financial statements, the Company has followed the Accounting Standards referred to in
Section 133 of the Companies Act, 2013. The significant accounting policies which are consistently applied are set
out in the Notes to the Financial Statements.

23. DISCLOSURES:

The Company has not entered into any transaction of material nature with the Promoters, the Directors or the
Management that may have any potential conflict with the interest of the Company.

24. FINANCE:

24.1 The Company has availed financial assistance in form of Term Loans and Working Capital from State Bank of
India.

24.2 The Company's Income tax Assessment has been completed upto the Assessment Year 2020-21.

25. DISCLOSURE UNDER MATERNITY BENEFIT ACT, 1961:

The Company is in compliance of the provision of Maternity Benefit Act, 1961 to the extent applicable.

26. ACKNOWLEDGEMENT:

Your Directors express their sincere gratitude for the assistance and co operation extended by Banks, Government
Authorities, Shareholders, Suppliers and Customers.

Your Directors also wish to place on record their appreciation of the contribution made by the employees at their
levels towards achievements of the Company's goals.

Registered Office For and on behalf of the Board of

Block No. 10/13, Village: Changodar, Sakar Healthcare Limited,

Sarkhej- Bavla Highway, [CIN: L24231GJ2004PLC043861]

Tal: Sanand, Dist: Ahmedabad -382 213 Sanjay S. Shah Aarsh S. Shah

Date : 24^th July, 2026 Chairman & Managing Director Jt. Managing Director

DIN:01515296 DIN: 05294294