Your Directors have pleasure in presenting 32^nd (thirty-second) Annual Report together with the
Audited Financial Statements of the Company for the Financial Year ended on 31^st March, 2025.

FINANCIAL RESULTS:

(Rs. in Lakhs.)

i) Business Outlook & Financial Performance:

Comments on Business Outlook & Financial Performance forms part of Analysis and are also included in
Management Discussion and Analysis section.

ii) Fi ancial Statements :

In accordance with Section 129(3) of the Companies Act, 2013, and Regulation 33 of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, the Company has prepared its standalone
financial statements for the financial year 2024-25.

As the Company does not have any subsidiaries, associates, or joint ventures, the preparation of
consolidated financial statements is not applicable. Therefore, no consolidated financial statements
have been included in the Annual Report for the year 2024-25.

The standalone financial statements are available on the Company's website at www.euro7000.com.

iii) Change in Nature of Business, if any:

There has been no change in the nature of Business of the Company.

SHARE CAPITAL:

Authorised Share Capital:

During the year under review, there has been no change in the Authorised Share Capital of the
Company. The Authorised Share Capital of the Company as on 31^st March, 2025, is as follows:

(Rs. In Lakhs.)

Paid-up Share Capital:

During the year under review, there has been no change in the Paid-up Share Capital of the Company.
The Paid-up Share Capital of the Company as on 31^st March, 2025, is as follows:

(Rs. In Lakhs.)

DIVIDEND:
inal Dividend:

The Board of Directors is pleased to recommend a Final Dividend of Rs.9.00/- (90%) per Equity Share of
Rs.10/- each fully paid on 1,20,00,000 Equity Shares of the Company, subject to approval of the

Shareholders at the ensuing Annual General Meeting of the Company. The Final Dividend
recommended, shall be paid to the Members, within statutory time limit, whose name appears in the

Register of Members, as on the Record date i.e. Friday, 19th September, 2025.

The Total Dividend paid for the Financial Year ended on 31^st March, 2025 works out to
Rs.10,80,00,000/-. The Dividend recommended is in accordance with the Company’s Dividend
Distribution Policy.

The Dividend Distribution Policy, in terms of Regulation 43A of the Listing Regulations, is available on
the Website of the Company at https://euro7000.com/.

Unclaimed Dividend:

The Company will send a reminder to the shareholders who have not claimed their dividends as per the
provisions of the Companies Act, 2013.

Material changes and commitments affecting the Financial Position of the Company:

Other than as stated elsewhere in the Annual Report 2024-25, there were no material changes and
commitments aff ecting the financial position of the Company, which occurred between the end of the
Financial Year to which this Financial Statement relates on the date of the Annual Report 2024-25.

Amount to be transferred to Reserves:

During the Financial Year, no amount was proposed to be transferred to the Reserves Account.
Deposits:

During the Financial Year, your Company has not accepted any amount as Public Deposits within the
meaning of provisions of Chapter V - Acceptance of Deposits by Companies of the Companies Act, 2013
read with the Companies (Acceptance of Deposits) Rules, 2014.

inance:

To meet the funds requirement of working / operational capital your Company has availed Financial
Facilities from internal accruals.

redit Rating:

The provisions relating to Credit Rating does not apply to the Company.

Disclosure relating to Subsidiaries and Associates:

During the year under review, the Company does not have any material subsidiary or associate as
stipulated under the Companies Act, 2013. As required under Regulation 16(1)(c) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors has approved a
policy for determining material subsidiaries. However, since the Company does not have any material
subsidiaries or associates, the policy is not applicable.

The details of the policy are available on the Company’s website at https://euro7000.com/investor-
relations.

Particulars of Loans, Guarantees or Investments:

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the
Companies Act, 2013 are given in the Notes to the Financial Statements.

Shifting Registered Office of the Company:

The Board of Directors has proposed to shift the registered office from 873, Village Santej, Taluka
Kalol, Gandhinagar - 382721 to 1104-1112 Ellite, Nr. Shapath Hexa, Opp Kargil Petrol Pump, Near Sola Over
Bridge S G Highway, Ahmedabad, 380060

Change of Registrar & Transfer Agent ("RTA"):

There is a change of Registrar & Transfer Agent From Link Intime India Pvt Ltd. to Accurate Securities
& Registry Pvt Ltd.

Mergers and Acquisitions:

There were no mergers/acquisitions during the year.

Directors and Key Managerial Personnel:

i. Induction to the Board:

During the year under review, there were no new appointments or cessations of directors on the
Board of the Company. The composition of the Board remained unchanged, and all directors continued
to serve in their respective capacities.

ii. Completion of tenure:

Similarly, no directors completed their tenure or ceased to hold office during the year under review
except Mr. Utkarsh Patel, Managing Director of the Company. Mr. Utkarsh Patel, re-appointed as a
Managing Director of the Company for a period of 5 years. The Board's composition remained
consistent throughout the period.

iii. Directors to retire by Rotation:

In accordance with the provisions of Section 152 of the Companies Act, 2013 and the Articles of
Association of your Company, Mrs. Jyotika Jagdishbhai Patel (DIN 07134331), retires by rotation at the
ensuing Annual General Meeting and being eligible have offered herselves for re-appointment.

The details of the Directors appointed/ to be re-appointed as required under the provisions of the
Companies Act and Listing Regulations are provided in the Notice convening the ensuing Annual
General Meeting.

iv. Declaration by Independent Directors:

The Company has received declarations from all the Independent Directors of the Company confirming
that they meet the criteria of independence as prescribed under the provisions of Section 149(6) of the
Companies Act, 2013 read with Schedules & Rules issued thereunder as well as Regulation 16 of the
Listing Regulations.

The Independent Directors have complied with the Code for Independent Directors prescribed in
Schedule IV to the Act.

v. Key Managerial Personnel (KMP):

Pursuant to Section 2 (51) and Section 203 of the Companies Act, 2013 read with Rules framed there
under, the following executives have been designated as Key Managerial Personnel (KMP) of the
Company.

1. Mr. Jagdish Nathalal Patel - Chairman

2. Mr. Utkarsh Jagdishbhai Patel - Managing Director

3. Mrs. Tejal Maheshkumar Varde - Company Secretary

4. Mr. Ashok Chinubhai Jardosh - Chief Finance Office

There has been no change in the Key Managerial Personnel of the Company during the Financial Year
ended on 31^st March, 2025.

In the opinion of the Board, all the Directors and Key Managerial Personnel, as well as the Directors
proposed to be appointed / re-appointed possess the requisite qualifications, experience, expertise
and hold high standards of integrity and relevant proficiency.

Meetings of The Board:

During the year, Six (6) Board meetings were convened and held on 28.05.2024, 12.08.2024, 31.08.2024,
14.11.2024, 30.01.2025 & 31.03.2025 respectively, in respect of which meetings proper notices were given
and the proceedings were properly recorded and signed.

Directors' Responsibility Statement:

In pursuance of Section 134(5) of the Companies Act, 2013 read with the rules made there under,
including any enactment or re-enactment thereon, the Directors hereby confirm that:

a) In the preparation of the Annual Accounts for the Year ended on 31^st March, 2025, the applicable
Accounting Standards had been followed along with proper explanation relating to material
departures;

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 31^st March, 2025 and of the Profit of the Company for the period
ended on 31^st March, 2025.

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 ('IFC') and that such Internal Financial
Controls are adequate and were operating effectively.

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.

Familiarisation programme for Independent Directors:

The Company has conducted familiarization programme for Independent Directors during the year.
The details of the same are given in the Corporate Governance Report and also posted on the Website
of the Company at https://euro7Q00.com/inuestor-relations .

Board Performance Evaluation:

Pursuant to the provisions of the Companies Act, 2013 ('Act’) and Regulation 17 of SEBI Listing
Regulations, the Board has carried out the Annual Performance Evaluation of its own performance and
that of its Statutory Committee’s viz., Audit Committee, Stakeholder Relationship Committee,
Nomination and Remuneration Committee, Corporate Social Responsibility Committee and Risk
Management Committee and also of the Individual Directors.

A structured questionnaire was prepared after taking into consideration inputs received from the
Directors, covering various aspects of the Board’s functioning such as adequacy of the composition of
the Board and its Committees, Board culture, execution and performance of specific duties, obligations
and governance.

A separate exercise was carried out to evaluate the performance of Directors on parameters such as
level of engagement and contribution, independence of judgment safeguarding the interest of the
Company and its minority shareholders etc. The entire Board carried out the performance evaluation
of the Independent Directors and also reviewed the performance of the Secretarial Department.

As required under the provisions of the Act and the Listing Regulations, a separate meeting of the
Independent Directors of the Company was held to evaluate the performance of the Chairman, Non¬
Independent Directors and the Board as a whole and also to assess the quality, quantity and timeliness
of flow of information between the management of the Company and the Board.

The Directors expressed their satisfaction with the evaluation process.

Remuneration policy:

The Board has, on the recommendation of the Nomination & Remuneration Committee, framed a
policy for selection and appointment of Directors, Senior Management and their remuneration. A brief
detail of the policy is given in the Corporate Governance Report and posted on the website of the
Company at https://euro7000.com/investor-relations .

Non-Executive Directors are paid sitting fees for attending each meeting of the Board and/or
Committee of the Board, approved by the Board of Directors within the overall ceilings prescribed
under the Act and Rules framed thereunder.

All the Executive Directors (i.e. Chairman/Managing Director/Whole-time Director) are paid
remuneration as mutually agreed between the Company and the Executive Directors within the overall
limits prescribed under the Companies Act, 2013.

In determining the remuneration of the Senior Management Employees, the Nomination and
Remuneration Committee ensures / considers the following:

The remuneration is divided into two components viz. fixed component comprising salaries,
perquisites and retirement benefits and a variable component comprising performance bonus;

The remuneration including annual increment and performance bonus is decided based on the
criticality of the roles and responsibilities, the Company’s performance vis-a-vis the annual budget
achievement, individual’s performance vis-a-vis Key Result Areas (KRAs) / Key performance Indicators
(KPIs), industry benchmark and current compensation trends in the market.

Committees of the board:

Currently, the Company has 5 (five) Board level Committees: Audit Committee('AC’), Stakeholders
Relationship Committee('SRC’), Nomination and Remuneration Committee('NRC’), Corporate Social
Responsibility Committee('CSR) and Risk Management Committee('RMC’). The composition of the
above committees, as on 31^st March, 2025, is provided in Corporate Governance Report, which forms
part of the Annual Report 2024-25.

Audit Committee:

The Company has constituted an Audit Committee in terms of the requirements of the Act and
Regulation 18 of the Listing Regulations, with the objective to monitor and provide effective
supervision of the Management’s financial reporting process, to ensure accurate and timely
disclosures, with the highest levels of transparency, integrity and quality of financial reporting. The
details of the Audit Committee are disclosed in the Corporate Governance Report, which forms part of
the Annual Report 2024-25.

Risk Management Committee:

The Company has constituted a Risk Management Committee in terms of the requirements of
Regulation 21 of the Listing Regulations, with the objective of identifying, assessing and framing a
response to threats that can affect its business operations and stakeholders interest. The risk
management process consists of risk identification, assessment, prioritization, mitigation plans /
treatment, monitoring and documenting the new risks. The Committee reviews risks on a rotation
basis in line with the risk management plan to assess effectiveness of mitigation plans defined against
each risks and its impact on overall risk exposure to the Company.

The details of the Risk Management Committee are disclosed in the Corporate Governance Report,
which forms part of the Annual Report 2024-25.

Corporate Social Responsibility Committee:

As per the provision of Section 135 read with Schedule VII of the Companies Act, 2013 and the
Companies (Corporate Social Responsibility Policy) Rules 2014, the Company has constituted Corporate
Social Responsibility (CSR) Committee and formulated Corporate Social Responsibility Policy (CSR
Policy). This policy is accessible to all stakeholders on the Company's Website at
https://euro7000.com/wp-content/uploads/. ensuring transparency and accessibility of the
Company’s responsibilities towards society.

The primary role of the CSR committee is to approve the CSR activities to be undertaken, allocate the
necessary expenditure, and oversee the execution and effectiveness of these initiatives. The
composition of CSR Committee is given in the Corporate Governance Report.

The Company has identified projects in accordance with Schedule VII of the Companies Act, 2013, such
as eradication of poverty, women empowerment, education, health care and such other projects. The
Annual Report on CSR activities for the F.Y. 2024-25 is annexed to this report as ‘Annexure - A’

Auditors and Auditors' Report:

Statutory Auditors:

M/s. R Kabra & Co. LLP, Chartered Accountants (ICAI Firm Registration No. 104502W/W100721) were re¬
appointed as Statutory Auditors for the Second Term to hold office till the conclusion of 35^th AGM to
be held in 2027, subject to ratification of their appointment at every Annual General Meeting.

M/s. R Kabra & Co. LLP have confirmed their eligibility and qualification required under Section 139, 141
and other applicable provisions of the Companies Act, 2013 and rules made thereunder (including any
statutory modification(s) or re-enactment(s) thereof for the time being in force).

The Notes to the Financial Statements referred in the Auditors' Report are self-explanatory.

There are no qualifications or reservations, or adverse remarks made by Statutory Auditors of the
Company and therefore do not call for any comments under Section 134 of the Act. The Auditors'
Report is attached with the Financial Statements in this Annual Report.

Cost Auditors:

The provisions related to Cost Auditors does not applicable to the Company.

Secretarial Auditors:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with Rule 9 of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014, your Company had
engaged the services of M/s Utkarsh Shah & Co., (Mem. No.F12526, COP: 26241), Ahmedabad, a
proprietor firm of Company Secretaries in Practice to undertake the Secretarial Audit of the Company
for the Financial Year ended on 31^st March, 2025. The Secretarial Audit Report in Form No. MR - 3 for
the Financial Year ended on 31^st March, 2025 is annexed to this report as 'Annexure - B'.

- Qualifications:

The Company has not implemented the "Structured Digital Database ('SDD')" systems as mandated
under Regulation 3(5) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

- Management Response:

The Company has successfully implemented the SDD as per SEBI (Prohibition of Insider Trading)
Regulations, 2015. The inspection from BSE Limited is awaited.

nternal Auditor:

M/s. VMAN and Associates Chartered Accountants was appointed as its Internal Auditors for Financial
Year 2024-25 to carry out the periodic audit as per the Scope Work.

Frauds Reported by Auditors:

During the year under review, no instance of fraud in the Company was reported by the Auditors.
Internal financial control system and their adequacy:

The Company has in its place adequate Internal Financial Controls with reference to Financial
Statements. During the year, such controls were tested and no reportable material weakness in the
design or operation of Internal Finance Control System was observed.

For all amendments to Accounting Standards and the new standards notified, the Company carries out
a detailed analysis and presents the impact on accounting policies, financial results including revised
disclosures to the Audit Committee. The approach and changes in policies are also validated by the
Statutory Auditors.

Further, the Audit Committee periodically reviewed the Internal Audit Reports submitted by the
Internal Auditors. Internal Audit observations and corrective action taken by the Management were
presented to the Audit Committee. The status of implementation of the recommendations were
reviewed by the Audit Committee on a regular basis and concerns if any were reported to the Board.

As per the relevant provisions of the Companies Act, 2013, the Statutory Auditors have expressed their
views on the adequacy of Internal Financial Control in their Audit Report.

Related Party Transactions (RPT):

All Related Party Transactions entered during the financial year were on an Arm’s Length Basis and
were in the ordinary course of business. The Company has not entered in to materially related party
transactions i.e., exceeding 10% or more of the turnover of the Company with related parties, which
may have a potential conflict with the interest of the Company at large. Hence, no transactions are
required to be reported in Form AOC-2.

During the year, all Related Party T ransactions were placed before the Audit Committee and the Board
for approval. The Company, whenever required, has obtained approval of the Shareholders of the
Company before entering into Materially Related Party Transactions.

As required under Regulation 23 of the Listing Regulations, the Company has framed a Policy on
Materiality of Related Party Transactions and on dealing with Related Party Transactions which is
available on the website of the Company at https://euro7000.com/inuestor-relations.

Vigil Mechanism / Whistle Blower Policy:

The Company has formulated a Vigil Mechanism-cum-Whistle Blower Policy ("Policy") as per the
requirements of Section 177 of the Companies Act, 2013 and Regulation 22 of the LODR requirements.
The Policy is applicable to all Directors and Employees of the Company. The Policy is to deal with
instance of unethical behaviour, actual or suspected fraud or violation of Company’s code of conduct, if
any. The said Policy is available on the website of the Company at https://euro7000.com/inuestor-
relations.

Prevention of Sexual Harassment at workplace:

As per the requirement of the provisions of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition & Redressal) Act, 2013 read with rules made thereunder, your Company has
constituted Internal Complaint Committee (ICC) as per requirement of the Act which is responsible for
redressal of complaints relating to sexual harassment against woman at workplace. The Sexual
Harassment of Women Policy formed is available on the Website of the Company at
https://euro7000.com/investor-relations.

During the year, no complaint was lodged with the ICC nor any such instance was reported and the
Management was happy to take the same on record.

Particulars of Employees:

Details of remuneration of Directors, KMPs and Employees as per Section 197 of the Companies Act,
2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014, are annexed to this report as 'Annexure - C'. However, as per the provisions of Section 136
of the Companies Act, 2013, the Annual Report 2024-25 is being sent to the Members and others
entitled thereto, excluding the information on Employees’ Remuneration particulars as required under
Rule 5 (2) & (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014. The disclosure is available for inspection by the Members at the Registered Office of your
Company during business hours on all working days (except Saturday) of the Company up to the date
of the ensuing AGM. Any Member interested in obtaining a copy thereof, may write to the Company
Secretary of the Company.

Conservation of Energy, Technology absorption, Foreign exchange earnings and outgo:

The information pertaining to Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo as required under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3)
of the Companies (Accounts) Rules, 2014 is annexed to this report as ‘Annexure - D’.

Significant or material orders passed by the authority:

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

Corporate Governance:

At the core of good governance lies the values of the Company and the four pillar of your Company’s
values are Together, Caring for, Agile and Making it happen. In essence, Corporate Governance is a
synthesis of business elements & values encompassing accountability, responsibility, fairness,
transparency, risk management, sustainability & so on, that not only enhances the organizational
growth but also generates trust among all its stakeholders and shareholders.

In accordance with Regulation 34 read with Schedule V of the SEBI (LODR) Regulations, 2015 we have
included a Report on Corporate Governance forming part of the Annual Report 2024-25 along with the
Certificate from Practicing Company Secretary confirming the compliance with the conditions of
Corporate Governance forms part of the Annual Report 2024-25.

Management discussion and analysis:

As per Regulation 34(2)(e) of the SEBI (LODR) Regulations, 2015 the Management Discussion and
Analysis Report for the year under review is presented in a dedicated section of the Annual Report
2024-25.

Annual return:

Pursuant to Section 92(3) read with Section 134(3)(a) of the Companies Act, the Annual Return as on
31^st March, 2025 of the Company is available on Company’s Website and can be accessed, at
https://euro7000.com/investor-relations .

Business Responsibility and Sustainability Report:

As per Regulation 34(2)(f) of the SEBI (LODR) Regulations, 2015, the Business Responsibility and
Sustainability Report (BRSR) detailing the Environmental, Social and Governance (ESG) initiatives
undertaken by the Company forms a part of the Annual Report 2024-25.

Insurance:

The Company’s Plant, Property, Equipment and Stocks are adequately insured under the Industrial All
Risk (IAR) Policy. The Company has insurance coverage for Product Liability and Public Liability Policy
and Commercial General Liability (CGL). It also maintains various other types of insurance, such as
Erection All Risk for its major capital expenditures projects, Directors’ and Officers’ liability, Transit

cover, Charterers’ liability cover, Marine policy and Employee Benefit Insurance policies. The Company
covers the properties on full sum insured basis on replacement value. The scope of coverage, insurance
premiums, policy limits and deductibles are in line with the size of the Company and its nature of
business.

Environment:

As a responsible corporate citizen and as a Chemicals manufacturer, Environmental Safety has been
one of the key concerns of the Company. It is the constant endeavor of the Company to strive for
compliant of stipulated pollution control norms. It consistently takes various measures to develop and
adopt safer process technologies, unit operations and sustainable systems. Your Company has
integrated an ESG framework into operations, positioning itself as a responsible chemicals player. By
embedding these principles into strategy, the company has enhanced resilience, risk mitigation and
sustainable value creation.

Industrial Relations:

The relationship with the Workmen and Staff remained cordial and harmonious during the year and
the Management received full cooperation from Employees.

Details of Nodal Officer:

In accordance with Rule 7(2A) of Investor Education and Protection Fund Authority (Accounting, Audit,
Transfer and Refund) Rules, 2016, the detail of Nodal Officer of the Company, for the purpose of
coordination with Investor Education and Protection Fund (IEPF) Authority is as under:

Name: Mrs. Tejal Varde

Designation: Company Secretary and Compliance Officer

Postal Address: 1104-1112 Ellite, Nr. Shapath Hexa,

Opp Kargil Petrol Pump,

Near Sola Over Bridge S G Highway,

Ahmedabad, 380060
Telephone No.: 91 79 7176 1000

E-mail ID: info@euro7000.com

The Company has also displayed the above details of Nodal Officer at its Website at
https://euro7000.com/.

Other disclosures and Information:

(A) Secretarial Standards:

During the year under review, the Company is in Compliance with the Secretarial Standards
issued by the Institute of Company Secretaries of India (ICSI) on Meetings of the Board of
Directors (SS-1) and General Meetings (SS-2).

The Company has complied with the applicable Secretarial Standards issued by the Institute of
Company Secretaries of India and approved by the Central Government under Section 118(10) of
the Act.

(B) Annual Listing Fee:

The Company has paid of listing with BSE Limited.

(C) No One Time Settlement:

There was no instance of one-time settlement with any Bank or Financial Institution.
Acknowledgment:

Your Directors thank the various Central and State Government Departments, Organizations and
Agencies for the continued help and co-operation extended by them. The Directors also gratefully
acknowledge all stakeholders of the Company viz. Customers, Members, Dealers, Vendors, Banks and
other business partners for the excellent support received from them during the year. The Directors
place on record unstinted commitment and continued contribution of the Employee to the Company.

For and on behalf of the Board
JYOTI RESINS AND ADHESIVES LIMITED

Jagdish Nathalal Patel
Chairman & Whole-time director
(DIN - 00304924)

Date: 08.05.2025
Place: Gandhinagar