The Directors have pleasure in presenting the
Forty First Annual Report together with the Audited
Financial Statements for the financial year ended
on March 31,2025.

FINANCIAL RESULTS

(Amount in 000’)

TRANSFER TO RESERVES

There was no transfer of profits made to General
Reserve.

OPERATIONS / STATE OF COMPANY'S AFFAIRS

The Company has completed Thirty-Six years
of operations. During the year under review, the
total income was '13,22,70,663/- compared to
'13,29,99,499/- in the previous year. The working
result of the Company shows a Net profit of
'32,74,677/-

DIVIDEND

The Board of Directors do not recommend any
dividend for the financial year 2024-25.

MATERIAL CHANGES AND COMMITMENTS
AFTER THE END OF THE FINANCIAL YEAR

There have been no material changes and
commitments, 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.

DIRECTORS AND KEY MANAGERIAL PERSON
(KMP):

Appointment/Retirement of Directors

Smt. Nalini Shewakramani (DIN:00021138), Director
of the Company, retires by rotation at the ensuing
Annual General Meeting and being eligible offers
herself for re-appointment.

The necessary resolution has been proposed
at the ensuing Annual General Meeting for the
re- appointment of Smt. Nalini Shewakramani
(DIN:00021138) as Whole time Director of the
Company.

Shri. Anirudh Hariani (DIN:02073843), Solicitor
and Law professional was appointed as Additional
Director (Non-executive, Independent) on the
Board of the Company with effect from October
26, 2024 by the Board. Further, the Board also
appointed him as an Independent Director for a
period of three years with effect from October 26,
2024 subject to the approval of shareholders at the
ensuing AGM.

Necessary resolution for approving his appointment
by shareholders is proposed at the ensuing AGM of
the Company.

Shri Pravin Vepari (DIN:00216303), Shri Vijay
Ranjan (DIN: 02346190) and Shri Ameet Hariani
(DIN:00087866) ceased to be Independent
Directors of the Company w.e.f. September
11, 2024, upon completion of their term as an
Independent Directors.

COMPANY SECRETARY

Ms. Maitri Gala (Membership No.: A67671)
resigned from her office as Company Secretary
and Compliance Officer of the Company w.e.f July

01 2025. The Board placed on record their sincere
appreciation for the valuable services rendered by
her, during her tenure as Company Secretary and
Compliance Officer of Company.

Ms. Komal Bafna (Membership No: A29152)
is appointed as Company Secretary and
Compliance Officer w.e.f July 26, 2025, who is
holding membership of The Institute of Company
Secretaries of India (ICSI) and is meeting the
requisite criteria for appointment as Company
Secretary of the Company.

Key Managerial Personnel ('KMP')

In terms of the provisions of Sections 2(51) and
203 of the Act, the following are the KMPs of the
Company:

• Shri Vishamber Shewakramani, Managing
Director and CFO

• Smt. Nalini Shewakramani, Executive Director

• Ms. Komal Bafna, Company Secretary and
Compliance Officer

DECLARATION FROM INDEPENDENT DIRECTORS

Independent directors have had submitted
declarations that each of them meet the criteria
of independence as provided in sub Section
(6) of Section 149 of the Act and Regulation
16(1)(b) of the Securities and Exchange Board
of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“SEBI Listing
Regulations”) and there has been no change in
the circumstances which may affect their status
as Independent Director during the year. In the
opinion of the Board, the Independent Directors
possess appropriate balance of skills, experience
and knowledge, as required. In terms of Regulation
25(8) of SEBI Listing Regulations, independent
directors have confirmed that they are not aware
of any circumstance or situation which exists or
may be reasonably anticipated that could impair or
impact their ability to discharge their duties.

MEETINGS OF THE BOARD OF DIRECTORS
AND ITS COMMITTEES

RECONSTITUTION OF COMMIITEES

Pursuant to various requirements under the Act and
the SEBI LODR and consequent to appointment of
Directors, the Board of Directors has reconstituted

(whenever necessitated) various committees such
as Audit Committee, Nomination and Remuneration
Committee, Stakeholders’ Relationship Committee.

The details of the constitution of committees of the
Board are as follows:

a. Board of Directors:

The Board of Directors of the Company met 4
(Four) times during the year on May 11, 2024,
July 13, 2024, October 26, 2024 and February
08, 2025.

The details of meetings attended by the
Directors are as follows:

b. Audit Committee:

Members of the Audit Committee met 4 (Four)
times during the year on May 11, 2024, July
13, 2024, October 26, 2024 and February 08,
2025.

The details of meetings attended by the
members are as follows:

c. Nomination and Remuneration Committee:

Members of the Nomination and
Remuneration Committee met 4 (Four) time
during the year on May 11, 2024, July 13,
2024, October 26, 2024 and March 08, 2025.

The details of meetings attended by the
members are as follows:

d. Stakeholders Relationship Committee:

Members of the Stakeholders Relationship
Committee met 1 (One) time during the year
i.e. on March 08, 2025.

The details of meetings attended by the
members are as follows:

VIGIL MECHANISM

The Company has a Whistle Blower Policy and
has established the necessary vigil mechanism for
directors and employees. This Policy is available
on the Company’s website at Web link: http://www.
rrahl.com/rrahlpolicies.htm

POLICY ON DIRECTORS' APPOINTMENT
AND REMUNERATION AND CRITERIA FOR
INDEPENDENT DIRECTORS

The Remuneration Policy for Directors and
Senior Management and the criteria for selection
of candidates for appointment as Directors,
Independent Directors and Senior Management are
placed on the website of the Company. Web link:
http://www.rrahl.com/rrahlpolicies.htm.

We affirm that the remuneration paid to the
Directors is as per the terms laid out in the
Remuneration Policy of the Company.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act,
2013, the Board of Directors, to the best of their
knowledge and ability, confirm that:

(i) in the preparation of the annual accounts, 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
for the maintenance of adequate accounting
records in accordance with the provisions
of the Act 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
to be followed by the Company and such
internal financial controls are adequate and
operating effectively;

(vi) They have devised proper systems to

ensure compliance with the provisions of all
applicable laws and that such systems were
adequate and operating effectively.

ADEQUACY OF INTERNAL FINANCIAL
CONTROLS

The Company has proper and adequate system
of internal financial controls commensurate with
its nature and size of business and meets the
following objectives:

• Providing assurance regarding the

effectiveness and efficiency of operations;

• Efficient use and safeguarding of resources;

• Compliance with policies, procedures and
applicable laws and regulations;

• Transactions being accurately reported and
recorded timely.

The Company has budgetary control system to
monitor expenditures and operations against
budgets on an ongoing basis. The internal auditors
also review the adequacy of internal financial
control system.

DETAILS OF SUBSIDIARIES/ JOINT VENTURES/
ASSOCIATES

The Company does not have any subsidiaries/ joint
ventures/ associates.

ANNUAL RETURN

Pursuant to Section 92(3) read with Section 134(3)
(a) of the Act, the Annual Return as on March 31,
2025 is available on the Company’s website on
www.rrahl.com/financialinformation.htm.

AUDITORS

As per the provisions of Section 139

of the Companies Act, 2013 read with

the Companies (Audit and Auditors) Rules, 2014,
M/s. Khandelwal and Mehta LLP, Chartered
Accountants (FRN: W100084) were re-appointed
as Statutory Auditors of the Company for another
term of five years from the conclusion of the Thirty-
Eighth Annual General Meeting of the Company till
the conclusion of the Forty-third Annual General
Meeting to be held in the year 2027.

The Statutory Auditors have confirmed their
eligibility to act and hold office as Statutory Auditors
of the Company in compliance with the provisions

of Sections 139 and 141 of the Companies Act,
2013.

SECRETARIAL AUDITORS

Pursuant to the provisions of Section 204 and other
applicable provisions, if any, of the Act, M/s. Parikh
& Associates, Practising Company Secretaries were
appointed as the Secretarial Auditors for auditing
the secretarial records of the Company for the
financial year 2024-2025. The Secretarial Audit
Report in Form MR-3 is annexed to this report as
“Annexure I”.

DISCLOSURE

The Company has devised proper systems to ensure
compliance with the provisions of all applicable
secretarial standards issued by the Institute of
Company Secretaries of India and that such systems
are adequate and operating effectively.

AUDITORS' REPORT AND SECRETARIAL
AUDITORS' REPORT

The Statutory Auditors Report and Secretarial Audit
Report for the financial year 2024-25 does not
contain any qualifications, reservations and adverse
remarks.

The Company has been in compliance with all the
regulations of the concerned authorities and the
applicable provisions of the Act and rules framed
thereunder.

COST AUDITORS

The maintenance of cost records and cost audit
provisions are not applicable to the Company as
required under Section 148 of the Companies Act,
2013, read with the Companies (Cost Records and
Audit) Rules, 2014.

CONSERVATION OF ENERGY, TECHNOLOGY
ABSORBTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO

The details of conservation of energy, technology
absorption, foreign exchange earnings and outgo
are as follows:

a. Conservation of energy:

During the year, the Company continued to
make efforts to prevent wasteful electrical
consumption. The Solar Water Heating
System as adopted by the Company has been

further extended which has helped in saving
of energy cost.

b. Technology absorption:

The Company does not need any technology
for its existing business.

c. Foreign exchange earnings and outgo:
Foreign exchange earnings: NIL
Foreign Outgo: NIL

PARTICULARS OF EMPLOYEES

Pursuant to Section 197 of the Act read with rule 5(1)
of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 the particulars of
employees are annexed as “Annexure II”.

The information required under Rule 5(2) and 5(3)
of the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014, is provided in
the Annexure forming part of this Report. In terms of
the proviso to Section 136 of the Act, the Report and
Accounts are being sent to the Members excluding
the aforesaid Annexure. Any member interested
in obtaining the same may write to the Company
Secretary at the Registered Office of the Company.

DEPOSITS FROM PUBLIC

The Company has not invited and / or accepted
any deposits, within the meaning of Section 73 of
the Companies Act, 2013 read with the Companies
(Acceptance of Deposits) Rules, 2014, as amended
from time to time.

SIGNIFICANT & MATERIAL ORDERS PASSED
BY THE REGULATORY/ JUDICIAL AUTHORITY

No significant or material orders were passed by
any regulatory/judicial authority or Court that would
impact the going concern status of the Company
and its future operations.

PARTICULARS OF LOANS, GUARANTEES AND
INVESTMENTS

The Company has not given any loans or
guarantees or made any investments pursuant to
the provisions of the Section 186 of the Companies
Act, 2013.

RISK MANAGEMENT POLICY

The Board of Directors of the Company have

framed a Risk Management Policy and are

responsible for reviewing the risk management
plan and ensuring its effectiveness. The Audit
Committee exercises additional oversight in the
area of financial risks and controls. Major risks
identified by the businesses and functions are
systematically addressed through mitigating actions
on a continuing basis.

RELATED PARTY TRANSACTIONS

Particulars of transactions with related parties
pursuant to Section 134(3)(h) of the Act read with
rule 8(2) of the Companies (Accounts) Rules, 2014
are given in Form AOC-2 and the same forms part
of this report as “Annexure IN”.

EVALUATION OF BOARD, ITS COMMITTEES
AND INDIVIDUAL DIRECTORS

An annual evaluation of the Board’s own
performance, its Committees and Individual
Directors was carried out pursuant to the provisions
of the Act in the following manner:

In the meeting of Independent Directors,

performance of Non-Independent Directors,

the Board as a whole and the Chairman of the
Company was evaluated after taking into account
the views of Executive Directors and Non-Executive
Directors.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

The provisions of Section 135 of the Act read with
Companies (Corporate Social Responsibility Policy)
Rules, 2014 are not applicable to the Company for
the year under report.

DISCLOSURE UNDER THE SEXUAL
HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND 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 and rules made thereunder. All employees
(permanent, contractual, temporary, trainees) are
covered under this policy.

The Company has not received any complaint on
sexual harassment during the year.

DISCLOSURE UNDER MATERNITY BENEFITS
ACT, 1961

The Company is in compliance with the provisions
of Maternity Benefit Act, 1961 during the year 2024¬
25.

LISTING FEES

The Company has paid the listing fees to BSE
Limited for the year 2025-26.

INSIDER TRADING REGULATIONS AND CODE
OF DISCLOSURE

The Code of Practices and Procedures for
Fair Disclosure of Unpublished Price Sensitive
Information and Code of Internal Procedures and
Conduct for Regulating, Monitoring and Reporting
of Trading by Insiders in accordance with the
requirements of the SEBI (Prohibition of Insider
Trading) Regulation, 2015 and in view of recent
amendments to the SEBI (Prohibition of Insider
Trading), 2015 by SEBI (Prohibition of Insider
Trading)(Amendment) Regulations, 2018, the
Policy on Determination of Legitimate purpose and

the Policy on inquiry in case of leak or suspected
leak of UPSI are adopted by the Company and are
made available on the Website of our Company at
www.rrahl.com/rrahlpolicies.htm.

MANAGEMENT'S DISCUSSION AND ANALYSIS

In terms of the provisions of Regulation 34 of the
Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements)
Regulations, 2015, the Management’s Discussion
and Analysis is set out in this Board Report and
annexed in “Annexure IV”.

CORPORATE GOVERNANCE REPORT

Pursuant to Regulation 15 of SEBI (Listing
Obligations and Disclosure Requirements)
Regulations, 2015, the provisions of Corporate
Governance are not applicable to the Company.

ACKNOWLEDGEMENT

Your Directors convey their deep sense of
gratitude to Indian Bank and every Official of the

administration of Dadra and Nagar Haveli and
Daman and Diu for their continued assistance
and support and look forward to their continued
assistance in future. Your Directors wish to place
on record sincere appreciation for excellent support
received from the Banks during the financial
year under report. Your Directors also express
their warm appreciation to all employees for their
contribution to the Company’s performance and
for their superior levels of competence, dedication
and commitment to the Company, both at Silvassa
and Mumbai. The Directors express gratitude
to Company’s Customers and Vendors and are
grateful to you, the Shareholders for the confidence
you continue to repose in the Company.

For and on behalf of the Board

Place: Mumbai SAIFUDDIN ATTAR

Date : 26^th July, 2025 CHAIRMAN