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The Directors hereby present their Fifty-Fourth (54^th) Annual Report on the business and operations of 3B
BlackBio Dx Limited (Formerly, Kilpest India Limited) ('the Company' or '3B BlackBio') together with the
Standalone and Consolidated Audited Financial Statements for the Year ended on 31^st March 2026.

FINANCIAL RESULTS

The Company's financial performance for the year ended 31^st March 2026 is summarized below
(Consolidated):

Consolidated numbers include CORIS BioConcept SRL sales of ^3,591.19 Lakh
OVERVIEW OF COMPANY'S PERFORMANCE FOR THE YEAR 2025-26
Performance in Molecular Diagnostics

The Indian molecular diagnostics market continued to grow during FY 2025-26, supported by the increasing
need for early, accurate and reliable diagnosis of infectious diseases, cancer and genetic disorders. The
adoption of molecular technologies such as real-time PCR, next-generation sequencing (NGS) and digital PCR
is increasing across hospitals, diagnostic laboratories and specialised testing centers, improving both the
scope and accessibility of molecular testing in the country.

The growing focus on genomics and precision medicine is also contributing to the development of the sector.
Molecular testing is increasingly being used to support disease diagnosis, treatment selection and patient
management, particularly in oncology and genetic disorders. National initiatives in genomics and the
availability of population-specific genomic data are expected to further support research and the
development of diagnostic solutions suited to the Indian population.

Government programmes continue to strengthen the country's diagnostic infrastructure. Initiatives under
Ayushman Bharat, the National Health Mission and disease-specific programmes such as the National TB
Elimination Programme are supporting wider access to diagnostic services, including molecular testing. The
expansion of molecular diagnostic testing and the strengthening of diagnostic facilities at regional and sub¬
district levels are further contributing to the adoption of molecular diagnostics beyond major urban centers.

At the same time, the Government's focus on domestic manufacturing and self-reliance in healthcare has
encouraged the development and production of diagnostic products within India. Increasing domestic
capabilities in assay development, molecular testing and genomics, along with continued investment by the
private sector, are helping improve the availability of advanced and cost-effective diagnostic solutions.

With greater awareness of early diagnosis, increasing adoption of precision medicine, expansion of
healthcare infrastructure and continued development of indigenous diagnostic technologies, the molecular
diagnostics sector in India is expected to maintain a positive growth trajectory over the coming years.

Over the past three fiscal years, our diagnostics business has demonstrated consistent and robust growth.
This upward trajectory is reflected in a strong CAGR of approximately 25.08% (w/o consolidation of Coris),
highlighting the growing market acceptance and operational excellence driving our performance.

The consolidated sales for diagnostic business have grown to ^13,111.81 Lakh* in the FY 2025-26 from
^8,428.25 Lakh in the FY 2024-25 as shown in the above graph.

*Note: In above numbers, CORIS BioConcept SRL sales of ^3,591.19 Lakh is included.

International Business / Exports

TRUPCR® continues to strengthen its presence in international markets, with products reaching more than
70 countries and over 200 customers across Europe, the Middle East, Asia-Pacific, Latin America, Africa and
North America. During FY 2025-26, our export business maintained its growth momentum, supported by
increasing business from existing markets, expansion of our distribution network, new product registrations,
participation in international tenders and successful product validations with key customers.

During the year, we further strengthened our presence in established markets while expanding into newer
geographies. New markets were added across APAC and Africa following completion of product registrations
and tendering processes. The Middle East and Europe continue to be important contributors to our
international business, while our efforts to build a stronger presence across Southeast Asia, Africa and Latin
America are progressing steadily.

Regulatory registrations remain an important part of our international expansion strategy. Depending on the
country and regulatory pathway, registrations can take approximately 10-15 months from initiation before
commercial business can commence. During the year, we initiated registrations in additional countries across
Latin America and Asia, which are expected to create new commercial opportunities as approvals are
received. We also continued to participate in international tenders, both directly and through our distribution
partners, helping us build institutional business and recurring opportunities across multiple markets.

The international business environment remained challenging during the year. Geopolitical tensions and
disruptions in global trade and logistics affected business conversion and movement of goods in certain
regions. At the same time, increasing competition, particularly from lower-priced products, continued to put
pressure on pricing and margins. Despite these challenges, our international business continued to expand,
supported by the quality and reliability of our products, a wide molecular diagnostics portfolio and
established relationships with distributors and customers.

Our ability to respond quickly to customer requirements also remains an important advantage in
international markets. Faster order fulfilment, particularly for European customers, along with responsive
technical and application support, helps us maintain strong customer relationships and differentiate our
products in an increasingly competitive market.

Going forward, our focus will be on increasing penetration in existing markets, converting ongoing
registrations into commercial business, expanding into newer territories and strengthening our distributor
and institutional customer network. We will also continue to pursue international tenders and identify
opportunities for registering a wider range of products in key markets. Despite continuing geopolitical and
competitive challenges, we expect our export business to maintain a positive growth trajectory in FY 2026¬
27, supported by new market entries, a growing customer base and continued demand for our molecular
diagnostic solutions.

Transition to IVDR

The Company continues to make steady progress towards the transition of its key TRUPCR® product portfolio
to compliance with Regulation (EU) 2017/746 on in vitro diagnostic medical devices (IVDR). BSI Group has
been appointed as the Notified Body for conformity assessment, and the required agreement is in place.
During FY 2025-26, the Company successfully completed its IVDR-aligned Quality Management System
(QMS) audits conducted by BSI in November 2025, marking an important milestone in the certification
process.

Technical document review for the identified product groups is currently ongoing, with the Regulatory team
working closely with R&D, Quality Assurance and other functions to address the requirements of the
Regulation.

Under the IVDR transitional provisions, eligible legacy Class C IVDs may continue to be placed on the EU
market until 31^st December 2028, subject to fulfilment of the prescribed conditions. For Class C devices,
manufacturers were required to have an IVDR-compliant QMS in place by 26^th May 2025, submit a formal
application to a Notified Body by 26^th May 2026, and enter into a written agreement with the Notified Body
by 26^th September 2026. The Company has progressed and completed its transition activities in line with
these requirements and timelines.

The Company remains focused on completing the ongoing technical documentation evaluations and
obtaining IVDR certification for its key Class C TRUPCR® product portfolio well in time to meet the above
deadlines, thereby supporting continued access to the European market.

PRESENCE OF THE COMPANY IN EVENTS & CONFERENCESINTERNATIONAL

Participation in leading international exhibitions and conferences continues to be an important part of our
global market development strategy. These platforms provide an opportunity to showcase the TRUPCR®
portfolio, introduce new products and technologies, interact directly with customers and distributors, and
understand evolving market requirements across different regions.

Our participation in major international events has helped strengthen relationships with existing distribution
partners while creating opportunities to engage with potential partners and customers from newer markets.
These interactions are particularly valuable as we expand our presence across the Middle East, Asia-Pacific,
Africa, Latin America and other international markets. They also provide a platform for technical discussions,
product demonstrations and follow-up validations, supporting the conversion of initial interest into longer-
term commercial opportunities.

Going forward, we will continue to selectively participate in key international conferences and exhibitions
that are aligned with our priority markets and product segments. Our focus will remain on using these
platforms to strengthen the TRUPCR® brand, expand our distributor and customer network, support new
market entry and create sustainable business opportunities across international markets.

During FY 2025-26, we continued to strengthen our international presence through participation in key
global industry events. 3B BlackBio Dx Limited participated in WHX Labs Dubai 2026 (formerly Medlab Middle
East), providing a platform to showcase its molecular and rapid diagnostic solutions and engage with
distributors, customers and industry partners, particularly from the Middle East, Africa and Asia. Whereas,
TRUPCR® Europe Limited participated in MEDICA 2025 in Dusseldorf, Germany, further strengthening the
group's engagement with customers and business partners across Europe and other international markets.
Participation in these events helped enhance brand visibility, strengthen existing relationships and explore
new distribution and business opportunities across key global markets.

INDIA

During FY 2025-26, the Company actively participated in several key scientific and industry conferences
across India, including APCON 2025, MP-MICROCON, HAEMATOCON 2025, MICROCON Delhi 2025 and
MPAICON 2026. These events provided valuable platforms to showcase our molecular and rapid diagnostic
solutions and engage directly with pathologists, microbiologists, haematologists, clinicians and laboratory
professionals. Our participation helped strengthen the visibility of the TRUPCR® brand, build relationships
with key stakeholders and gain insights into evolving diagnostic requirements across infectious diseases,
oncology and other clinical areas.

The agrochemicals division reported sales of ^1,080.00 Lakh in FY 2025-26, compared to ^1,218.61 Lakh in
FY 2024-25. The decline in sales was mainly due to variability in demand from the agricultural sector. The
Kharif season also witnessed uneven and prolonged monsoon conditions in certain regions, affecting the
timing of crop protection applications and demand for agrochemical products. In addition, geopolitical
tensions and disruptions in global supply chains led to the overall market conditions during the year.

Despite these challenges, the division improved its operating performance and returned to profitability. The
business continues to focus on government and institutional procurement through GeM and other tendering
platforms, while strengthening its presence in micro-fertilizers, bio-fertilizers and public health products. The
agrochemicals business remains debt-free, in line with previous projections, and maintains overall sales
stability. Concurrently, the company is accelerating initiatives to build stronger brand visibility across its
product lines in micro fertilizers, bio fertilizers, and public health segments.

PERFORMANCE OF THE UK SUBSIDIARY - TRUPCR® Europe Limited

TRUPCR® Europe Limited continued its strong growth momentum during FY 2025-26, supported by
increasing acceptance of its "Made in UK" product portfolio and a growing customer base across Europe. The
Manchester facility provides an important advantage through faster deliveries, local technical support and
closer engagement with customers and distributors. The Company is also gradually expanding its reach
beyond Europe into markets across Latin America, Africa and other geographies.

In FY 2025-26, TRUPCR® Europe Limited (TPE) have gained momentum with growth of 36% in Sales as shown
below versus FY 2024-25. TRUPCR® Europe Limited continues to be a strong growth driver for the group with
a 57.20% CAGR over a period of last four years, with its "Made in UK" portfolio gaining steady acceptance
across Europe.

Presence of the UK subsidiary in International Conferences

During the year, TRUPCR® Europe continued to strengthen its market presence through the addition of new
distributors, increased marketing activities and participation in international exhibitions like ESHG 2025 in
Milan, ACGS 2025 and IBMS Biomedical Science Congress 2025 in Birmingham, MEDICA 2025 in Dusseldorf,
and The Festival of Genomics & Biodata 2026 in London. These events provided important platforms to
showcase the expanding TRUPCR® molecular diagnostics portfolio, engage with laboratories, clinicians,
distributors and industry partners, and explore new business and OEM opportunities. Continued
participation in such events has helped increase brand visibility, strengthen customer relationships and
support the expansion of TRUPCR® Europe across the UK, Europe and other international markets.

Performance of Coris BioConcept SRL, Belgium

Accomplishing another milestone acquisition, the company - 3B (70%) along with its UK subsidiary - TPE
(30%) acquired all the shares of Coris Holding SRL, the parent company of Coris Bioconcept SRL ("Coris") from
Avacta Group Plc, London (a 30 years old manufacturer of Rapid Diagnostic Solutions) for an upfront cash
consideration of £2.15 Million (including net cash & customary working capital adjustments) with an earn-

out based on future business performance of up to £0.615 Million payable (the "Acquisition") totaling to
£2.765 Million. The completion of purchase took place on 29^th August 2025.

According to the Ind AS rules, the consolidation can only be done from the date of acquisition, so the
consolidation of Coris's accounts was done from 29^th August 2025 till 31^st March 2026 only, which were
profitable months / quarters for Coris.

Coris' product portfolio comprises of rapid in-vitro diagnostic test kits, primarily focused on the antibiotic
resistance markers (AMR). As part of their portfolio, the company offers a range of rapid lateral flow tests
(LFT) designed to support early & accurate diagnosis at the point of care. Coris also offers an LFT -'HAT Sero
K-SeT' for detecting antibodies specific to Trypanosoma brucei gambiense (a parasite that causes African
sleeping sickness), a product that holds global monopoly.

Acquisition of Coris BioConcept SRL is a strategically thought move that strengthens our position in the IVD
segment and our fight against AMR. The product portfolio of Coris complements our existing molecular
diagnostics product range.

By combining our expertise in the PCR-based solutions and with Coris' innovation in rapid testing, the
company is accelerating its vision of faster, accessible, and more accurate diagnostics worldwide. As stated
above, with the efforts that will be put in this year, we expect CORIS to be EBITDA positive in the next financial
year and also to get reasonable growth.

In the period consolidated i.e., from 29^th August 2025 till 31^st March 2026, sales of ^3,591.19 Lakh (€ 3.39M)
were consolidated for Coris.

For FY 2026-27, Coris expects its AMR portfolio to grow by 15-20%, while other product segments may face
some pressure from Chinese competition. Overall, sales are expected to grow by 10-15%, with a slightly
positive EBITDA. IVDR certification for two of their key AMR products is expected to support further market
growth. Coris has also initiated US FDA registration for RESIST-5, which is expected to open opportunities in
the US and other markets recognising FDA approvals from FY 2027-28 onwards. With a strong position in
AMR diagnostics, new products under development and increased marketing efforts across the Middle East,
APAC and the US, Coris is well placed to expand its presence in existing and new markets.

RAPID KIT VERTICAL (LATERAL FLOW TECHNOLOGY)

During FY 2025-26, the TRURAPID® rapid diagnostics business progressed further, with Antimicrobial
Resistance (AMR) emerging as a key focus area for the Company which is a growing global healthcare
concern.

The Company has established a specialised range of tests to support rapid identification of resistance to
important classes of antibiotics, including carbapenems and cephalosporins, helping laboratories obtain
actionable information significantly faster than conventional culture-based methods.

• TRURAPID® RESIST-5 OKNVI Rapid Test (For Resistance in Carbapenems)

• TRURAPID® RESIST ACINETO Rapid Test (For Resistance in Carbapenems in Acinetobacter spp.)

• TRURAPID® RESIST CTX-M Rapid Test (For Resistance in Cephalosporins)

R&D activities are continuing for the development and optimisation of additional rapid diagnostic products
with strong market potential. Going forward, the Company intends to progressively expand the TRURAPID®
portfolio as new products complete development and regulatory requirements, with AMR remaining one of
the key focus areas for the rapid diagnostics business.

We have started getting some traction for the TRUNGS® assays from the customers however, it is very low.
The NGS market is at a very nascent stage and is dominated by Whole Genome Sequencing, Whole Exome
Sequencing, NIPT etc. TRUNGS® is focussed on very niche products in this segment, hence, it will be difficult
to quantify and forecast the benefits at this point.

With the TRUNGS® vertical, our main intent was to be technologically relevant so that we can offer all the
molecular diagnostics solutions to our customers under one roof. Now we have a good grip of the NGS assays,
however, commercialization is challenging as the field is highly competitive and labs try to make their own
kits (homebrew) which is an old methodology and used in PCR as well. TRUNGS® is focussed on very niche
products in this segment, hence, we do not expect major high growth / revenue from NGS immediately,
however, it will be gradual.

In FY 2024-25, we had launched the "TRUNGS® Solid Tumor Panel" for detection genes associated with solid
tumors such as lung, gastro-intestinal/colorectal, breast, liver and ovarian tumors.

Now, after extensive R&D efforts we will be launching below products commercially:

? BRCA Plus Kit - For detection of germline / somatic mutations associated with breast, ovarian and prostate.
cancers.

? MTB - MDR NGS Kit - Advanced Genomic Profiling of TB Drug Resistance Using Targeted Sequencing
DIGITAL PCR (NEW R&D)

Our Research and Development (R&D) team is committed to the ongoing development of innovative
products leveraging cutting-edge technologies. Through our dedication to scientific advancement and
technological innovation, we strive to address emerging challenges and meet the evolving needs of our
customers and stakeholders.

Through our relentless pursuit of excellence, we endeavor to bring to market new products that not only
meet but exceed industry standards for quality, performance, and reliability.

Continuing our journey for R&D, our team has been working on the development of assays based on Digital
PCR (dPCR) technology which enables absolute quantification of target nucleic acids. The products under this
segment have been commercially launched in Q3 of FY 2025-26, although it is in very initial stage and sale is
nominal.

By leveraging the capabilities of dPCR technology, our R&D team has the opportunity to develop innovative
assays that address key challenges in healthcare & biotechnology. This could lead to the development of
valuable diagnostic tools with significant impact on disease detection, treatment monitoring, and research
advancements.

SUMMARY

The Company delivered a strong performance during FY 2025-26, supported by growth in its molecular
diagnostics business, exports and international operations. During the year, we expanded our presence
across key global markets, made significant progress towards IVDR certification of our key TRUPCR® products
and continued to invest in R&D and new product development. The rapid diagnostics business also
progressed further, with Antimicrobial Resistance (AMR) becoming an important area of focus. The
acquisition of Coris Bioconcept, Belgium, further expanded the Group's product portfolio and capabilities in
this segment.

Going forward, the Company will remain focused on new market expansion, deeper penetration in existing
markets, regulatory approvals and development of new products. With a growing international customer
base, broad diagnostic portfolio and continued focus on quality and innovation, the Company is well
positioned to maintain its growth momentum in the coming years.

PUBLIC DEPOSITS

The Company has not accepted any deposits from the public during the year under review. No amount on
account of principal or interest on deposits from the public was outstanding as on 31^st March 2026.

MERGERS & ACQUISITIONS

During the last 2 years, we have evaluated several companies in the IVD space, however, the valuations were
high due to demand from diagnostic companies based on Covid profits. Also, the Sales & EBITDA were not
matching our IRR or future growth possibility, hence we did not proceed.

However, now with acquisition of Coris BioConcept SRL, Belgium, we have been able to do the first acquisition
after a long search & negotiation which will strengthen our credibility in the market as a genuine buyer.

We are actively looking for M&A opportunities across globe preferably in the EU and the USA. We are looking
for manufacturers or distributors in the IVD segment which can include molecular, microbiology, immunology
and similar segment.

We will also be deploying some funds in the joint venture created in Manchester, UK depending on the need.
DIVIDEND

Based on the Company's performance, the Board of Directors of the Company are pleased to recommend a
final dividend of 50%, ^5/- i.e., per equity share of face value of ^10/- each for the FY 2025-26. The dividend
payout is subject to approval of members at the ensuing Annual General Meeting.

The dividend, once approved by the Shareholders, will be paid, subject to deduction of tax at source, on or
after Monday, 5^th October 2026. The Company has fixed Tuesday, 22^nd September 2026 as the 'Record Date'
for determining entitlement of members to final dividend for the financial year ended 31^st March 2026, if
approved at the AGM.

TRANSFER TO RESERVES

The balance of Profit and Loss Account after adjusting income tax and dividend paid during the year has been
transferred to Reserves and Surplus in Balance Sheet.

CREDIT RATINGS

The Company requested "Care Ratings Ltd" to withdraw its external rating assigned to the bank facilities of
the company, which saves cost to the company. A letter to this effect has been received by the company on
14^th March 2019, issued by CARE Ratings Ltd. Company continues to utilize the bank credit facilities as a
valued customer and the withdrawal was suo-moto initiated due to non-requirement by bank, as stated
above and cost saving reasons.

CHANGES IN THE NATURE OF BUSINESS, IF ANY

There was no change in the nature of business of the Company during the financial year ended 31^st March
2026.

CURRENT LISTING

Presently, the Equity Shares of the company are listed on the Bombay Stock Exchange Ltd, Mumbai.

SHARE CAPITAL

The Paid-up Equity Share Capital of the Company as on 31^st March 2026 was ^8,58,26,700/- (Rupees Eight
Crore Fifty-Eight Lakh Twenty-Six Thousand Seven Hundred only), comprising of 85,82,670 (Eighty-Five Lakh
Eighty-Two Thousand Six Hundred and Seventy) Equity Shares of Face Value of ^10/- (Rupees Ten Only) each.

The Company has not issued shares with differential voting rights. It has neither issued employee stock
options nor sweat equity shares and does not have any scheme to fund its employees to purchase the shares
of the Company.

The shares are actively traded on BSE and have not been suspended from trading.

DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)

Mrs. Mithla Dubey (DIN: 03597415), is a Non-Executive Director, Promoter and Woman Director of the
Company aged 79 years is liable to retire by rotation at the ensuing Annual General Meeting pursuant to
Section 152 of the Companies Act, 2013. Being eligible, she has offered herself for re-appointment.

Pursuant to Regulation 17(1A) of SEBI (LODR) Regulations, 2015, no listed company shall appoint or continue
the directorship of a Non-Executive Director who has attained the age of 75 years unless approved by
Members by way of a Special Resolution.

The Board is of the opinion that Mrs. Mithla Dubey's rich and diverse experience is a valuable asset to the
Company which adds value and enriched point of view during Board discussions and decision making. She is
also a person of integrity who possesses required expertise and her association as Non-Executive Director
will be beneficial to the Company.

The Board of Directors, on the recommendation of the Nomination and Remuneration Committee, have
proposed the re-appointment of Mrs. Mithla Dubey (DIN: 03597415), who retires by rotation at the ensuing
Annual General Meeting and being eligible, has offered herself for re-appointment.

Mrs. Mithla Dubey (DIN: 03597415) is seventy-nine (79) years of age, hence approval by way of Special
Resolution is placed before the shareholders. She has been effectively performing her duties and providing
valuable guidance to the Company in key strategic matters from time to time.

The Nomination and Remuneration Committee and the Board of Directors have, therefore, recommended
the re-appointment of Mrs. Mithla Dubey's as a Non-Executive Director of the Company, liable to
retire by rotation and subject to the approval of members of the company.

None of the Company's directors are disqualified from being appointed as a director under the provisions of
the Act. For details about the directors, please refer to the Corporate Governance Report.

During the year under review, the non-executive directors of the Company had no pecuniary relationship or
transactions with the Company, other than sitting fees as approved by the Audit Committee or the Board
which are disclosed under the Notes to Accounts.

Independent Directors

Independent Directors have given declarations that they meet the criteria of independence as prescribed
under the provisions of the Companies Act, 2013 read with schedules and rules issued as well as SEBI Listing
Regulations. In the opinion of the Board, they fulfill the conditions of independence as specified in the Act
and the Rules made thereunder and are independent of the management. They 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 with an objective independent judgement and without
any external influence. The Board of Directors of the Company has taken on record the declaration and
confirmation submitted by the Independent Directors after undertaking due assessment of the veracity of
the same. Further, in the opinion of the Board, the Independent Directors fulfill the conditions prescribed
under the SEBI Listing Regulations and are competent, experienced, and proficient and possess necessary
expertise and integrity to discharge their duties and functions as Independent Directors and are independent
of the management of the Company. There has been no change in the circumstances affecting their status
as Independent Directors of the Company and that they hold highest standards of integrity.

The Independent Directors of the Company have confirmed that they have enrolled themselves in the
Independent Directors' Databank maintained with the Indian Institute of Corporate Affairs ('MCA') in terms
of Section 150 of the Act read with Rule 6 of the Companies (Appointment & Qualification of Directors) Rules,
2014, as amended.

Details of Familiarisation Programme for the Independent Directors are provided separately in the Corporate
Governance Report.

During the year there was no change in the Key Managerial Personnel of the Company.

In terms of the Section 203 of the Companies Act, 2013, the following are considered to be Key Managerial
Personnel of the Company as on 31^st March 2026 as per the provisions of the Companies Act, 2013 and the
rules made thereunder.

1. Mr. Dhirendra Dubey; Chairman & Managing Director

2. Mr. Nikhil Kuber Dubey; CFO & Whole Time Director

3. Mrs. Navneet Kaur - Company Secretary

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis forms an integral part of this report and gives details of the overall
industry structure, economic developments, performance and state of affairs of your company, risk
management systems and other material developments during the Financial Year 2025-26.

Management Discussion and Analysis Report for the year 2025-26, is presented in a separate section forming
part of Annual Report.

CORPORATE GOVERNANCE REPORT

The Company is committed to maximise the value for its stakeholders by adopting the principles of good
Corporate Governance in line with the provisions of law and particularly those stipulated in the SEBI Listing
Regulations.Your Company continues to be committed to good Corporate Governance aligned with good
practices. A separate report on Corporate Governance along with Auditors' Certificate forms an integral part
of this Annual Report.

INTERNAL FINANCIAL CONTROLS

The Directors have laid down internal financial controls to be followed by the Company for ensuring the
orderly and efficient conduct of its business, including adherence to Company's policies, the safeguarding of
its assets, the prevention and detection of frauds and errors, the accuracy and the completeness of the
accounting records and the timely preparation of reliable financial information. These controls also help in
the timely preparation of transparent, complete and accurate financial information and statements as per
the stipulated accounting standards and principles. During the year, such controls were tested and no
reportable material weaknesses in the design or operation were observed.

DIFFERENCE IN VALUATION

The Company has not made any one-time settlement for loans taken from the Banks or Financial Institutions,
and hence the 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 is not applicable.

RISK MANAGEMENT

Effective risk management is one of the pillars of our corporate governance framework. The Company has a
well-defined risk management framework in place to identify, evaluate, and monitor business risks and
challenges across the Company as well as to identify new and emergent risks. By implementing a risk
management framework, we ensure that we are well-equipped to adapt to changing circumstances and
allocate resources effectively. The company's success as an organization largely depends on its ability to
identify opportunities and leverage them while mitigating the risks that arise while conducting its business.
Your Directors continually evaluate the risks faced by the Company which could affect its business operations
or threaten its existence. The Company takes appropriate risk containment measures and manages the same
on an ongoing basis. Your Company has a Risk Management Policy in place and is available on the Company's
website at https://www.kilpest.com.

WHISTLE BLOWER POLICY/VIGIL MECHANISM

The Company has a Vigil Mechanism/Whistle Blower Policy which provides an opportunity to the Directors,
Employees and all other stakeholders to report in good faith to the management about the unethical and
improper practices, fraud or violation of Company's Code of Conduct. The vigil mechanisms under the Policy
provide for adequate safeguard against victimization and make provision for direct access to the Chairman
of the Audit Committee in exceptional cases. The Company affirms that none of the personnel of the
Company has been denied access to the Audit Committee.

The Policy on vigil mechanism/whistle blower policy may be accessed on Company's website
www.kilpest.com.The details pertaining to Whistle Blower Policy are included in the Corporate Governance
Report, which forms part of this report.

PERFORMANCE AND FINANCIAL POSITION OF EACH OF THE SUBSIDIARIES, ASSOCIATES AND JOINT
VENTURE COMPANIES

The Consolidated Financial Statements of the Company and its subsidiaries are prepared in accordance with
Indian Accounting Standards notified under the Companies (Indian Accounting Standards) Rules, 2015 ('Ind
AS'). The Audited Consolidated Financial Statements together with the Auditor's Report thereon forms part
of this Annual Report.

The consolidated financial results reflect the operations of its subsidiaries: M/s TRUPCR EUROPE Limited,
and Coris Holding SRL, Belgium (w.e.f., 29^th August 2025).

The Company has adopted a Policy for determining Material Subsidiaries in terms of Regulation 16(1)(c) of
the SEBI Listing Regulations. The Policy, as approved by the Board, is uploaded on the Company's website i.e.
www.kilpest.com

The audited financial statements, together with related information and other reports of the subsidiary
companies are available on the Company's website at www.kilpest.com. The audited financial statements of
these entities will be available for inspection during business hours at the Registered Office of the Company.

The Company does not have any associate or joint venture companies. The statement pursuant to the
provisions to Section 129(3) of the Companies Act 2013, containing salient features of the financial statement
of the Company's Subsidiary in Form AOC1 is given in Annexure - III.

ANNUAL EVALUATION OF BOARD PERFORMANCE AND PERFORMANCE OF ITS COMMITTEES AND OF
DIRECTORS

In terms of applicable provisions of the Companies Act, 2013 read with Rules framed there under and
provisions of SEBI Listing Regulations and on the recommendation of Nomination and Remuneration
Committee, the Board of Directors has put in place a process to formally evaluate the effectiveness of the
Board, its Committees along with performance evaluation of each Director carried out on an annual basis.
Accordingly, the annual performance of the Board, its committees and each Director was carried out for the
Financial Year 2025-26.

The Independent Directors at their separate meeting held on 6^th February 2026 have reviewed the
performance of non-independent directors, Chairman and Board as a whole along with review of quality,
quantity and timeliness of flow of information between Board and management and expressed their
satisfaction over the same. Further the Board, in its meeting held on 6^th February 2026 also reviewed the
performance of the Board, its committees and all Individual Directors of the Company and expressed its
satisfaction over the performance of the Board, its Committees and individual Directors. Furthermore, Board
is of the opinion that Independent directors of the Company are persons of high repute, integrity & possess
the relevant expertise & experience in their respective fields.

The criteria for performance evaluation of the Board included aspects such as Board composition and
structure, effectiveness of Board processes, contribution in the long-term strategic planning, etc.Criteria for
evaluation of individual Directors including that of Independent Directors include aspects such as
professional qualifications, prior experience, especially experience relevant to the Company, knowledge and
competency, fulfillment of functions, ability to function as a team, initiative, availability and attendance,
commitment, contribution, integrity, independence and guidance/ support to management outside Board/
Committee Meetings. In addition, the Chairman is also evaluated on key aspects of his role, including
effectiveness of leadership and ability to steer meetings, impartiality, ability to keep shareholders' interests
in mind and effectiveness as Chairman.

Criteria for evaluation of the Committees of the Board include mandate and composition; effectiveness of
the Committee; structure of the Committee; regularity and frequency of meetings, agenda, discussion and
dissent, recording of minutes and dissemination of information; independence of the Committee from the
Board; contribution to decisions of the Board; effectiveness of meetings and quality of relationship of the
Committee with the Board and management.

EMPLOYEE STOCK OPTION SCHEME

At present, the Company is not having any Employee Stock Option Scheme.

STATUTORY AUDITORS

At the 50^th AGM of the Company held on 22^nd September 2022, In compliance with the provisions of Section
139 and other applicable provisions of the Companies Act, 2013 and the Companies (Audit and Auditors)
Rules, M/S Baheti & Co., Chartered Accountants (Firm Registration No. 006287C), were re-appointed as
Statutory Auditors of the Company for a second term of five (5) consecutive years i.e. from the conclusion of
the 50^th AGM till the conclusion of the 55^th AGM to be held in the year 2027.

The Audit Report of M/S Baheti & Co. on the Financial Statements (both standalone as well as consolidated)
of the Company for FY 2025-26 forms part of this Annual Report. The Report does not contain any
qualification, reservation, adverse remark or disclaimer.

AUDITORS' REPORT

The Report given by the Auditors on the financial statements of the Company is part of the Annual Report.
The Auditor's Report for the financial year ended 31^st March 2026 does not contain any qualification,
reservation or adverse remark.

COST AUDITORS/COST RECORD

The Company is required to maintain cost records as specified by the Central Government as per Section
148(1) of the Companies Act, 2013 and the rules framed thereunder and accordingly, the Company has made
and maintained such cost accounts and records.

In terms of Section 148 of the Act read with the Companies (Cost Records and Audit) Rules, 2014, based on
the recommendations of the Audit Committee, the Board of Directors at its meeting held on 13^th August,2026
have approved the appointment of Sanjay Kasliwal & Associates, Cost Accountants & Social Auditor (Firm
Registration No. 100888), being eligible, to conduct Cost Audit relating to the business of the Company for
the year ending 31^st March 2027. The Cost Audit report for the Financial Year 2024-25 has been filed by the
Cost Auditors with the Ministry of Corporate Affairs, Government of India. Whereas Cost Audit Report for
the Financial Year 2025-26 will be submitted to the Ministry of Corporate Affairs within prescribed time.

Sanjay Kasliwal & Associates, have confirmed that they are free from disqualification specified under Section
141(3) and proviso to Section 148(3) read with Section 141(4) of the Act and that their appointment meets
the requirements of Section 141(3)(g) of the Act. They have further confirmed their independent status and
an arm's length relationship with the Company.

The remuneration payable to the Cost Auditors is required to be placed before the Members in a General
meeting for their ratification. Accordingly, a resolution for seeking Members' ratification for the
remuneration payable to Sanjay Kasliwal & Associates is included in the Notice of the 54^th AGM forming part
of this Annual Report.

SECRETARIAL AUDITOR AND SECRETARIAL AUDIT REPORT:

In terms of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, M/s P.K. Rai & Associates, Practicing Company Secretary has been
appointed as the Secretarial Auditors of the Company.

At the 53^rd AGM of the Company held on 26^th September 2025, in accordance with the SEBI Listing
Regulations, the Members of the Company appointed M/s P.K. Rai & Associates, a Peer reviewed practicing
Company Secretary, as the Secretarial Auditors of the Company to conduct secretarial audit and issue the
Secretarial Audit Report for a term of five (5) consecutive years from Financial Year 1^st April 2025 to 31^st
March 2030.

The Secretarial Audit Report for the Financial Year ended 31^st March 2026 is annexed as Annexure IV and
does not contain any qualification, reservation, adverse remark or disclaimer.

As per amended SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in addition to the
above mentioned Secretarial Audit Report, listed company is also required to obtain an Annual Secretarial
Compliance Report from a Practicing Company Secretary w.r.t the compliances of all applicable SEBI
Regulations, amendments, circulars or guidelines etc. by the Company. Accordingly, the same has been
obtained and filed with the concerned Stock Exchanges.

INTERNAL AUDITORS

Pursuant to the provisions of Section 138 of the Companies Act, 2013 and the Companies (Accounts) Rules,
2014, the Board of Directors of the Company had appointed M/s Ali Jain and Sharma, Chartered Accountants,
to conduct internal audit for the Company for FY 2025-26

REPORTING OF FRAUDS BY AUDITORS

During the year under review, the Statutory Auditors and Secretarial Auditors have not reported any
instances of frauds committed in the Company by its Officers or Employees, to the Audit Committee under
Section 143(12) of the Companies Act, 2013, details of which needs to be mentioned in this Report.

INDIAN ACCOUNTING STANDARDS (IND AS)

The Financial Statements have been prepared in accordance with Indian Accounting Standards ('Ind AS') as
per the Companies (Indian Accounting Standards) Rules, 2015 notified under Section 133 and other relevant
provisions of the Act.

SECRETARIAL STANDARDS OF ICSI

Your company has complied with applicable Secretarial Standards issued by the Institute of Company
Secretaries of India, during the financial year under report.

TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND

a) Transfer of unclaimed dividend

i) Pursuant to the provisions of Section 124 of the Act, read with the Investor Education and Protection
Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 ('IEPF Rules') including any
statutory modification(s) or re-enactment(s) thereof for the time being in force, dividend for the
financial year ended 31^st March 2019 and onwards, which remains unpaid or unclaimed for a period of
seven (7) years from the date of its transfer to the unpaid dividend account of the Company would be
transferred to IEPF within a period of 30 days after expiry of the 7 year period.

ii) Members whose Dividend remains unclaimed/unpaid for the above years are advised to submit their
claim to the Company's RTA at their address, quoting their folio number/DP ID and Client ID.

Members are informed that the unclaimed dividend for the financial year 31^st March 2019 shall be
transferred to the IEPF within a period of 30 days from the due date of transfer. The reminder letters have
already been sent separately to all such Members at their registered address in this regard.

Further, Members who have not encashed/claimed their dividends in the last seven (7) consecutive years
from 2018-19 are being notified to claim the same before the cut-off date as mentioned in the reminder
letter. In case valid claim is not received by that date, the Company will proceed to transfer the respective
shares to the IEPF Authority in terms of the IEPF Rules.

b) Transfer of shares to IEPF

In terms of Section 124 of the Companies Act, 2013, shares on which dividend remains unpaid or unclaimed
for a period of seven consecutive years or more shall be credited to the Demat Account of Investor Education
and Protection Fund Authority (IEPFA). Upon transfer of such shares, all benefits, if any, accruing on such
shares shall also be credited to such Demat Account and the voting rights on such shares shall remain frozen
till the rightful owner claims the shares.

Adhering to the various requirements set out in the IEPF Rules, as amended, the Company has, during
financial year 2025-26, transferred to the IEPF Authority all shares for the Financial Year 2017-18 in respect
of which dividend had remained unpaid or unclaimed for seven consecutive years or more. The said details
have also been uploaded on the website of the IEPF Authority.

c) Claim from IEPF Authority

Members may note that shares as well as unclaimed dividends transferred to IEPF Authority can be claimed
back. Concerned Members are advised to visit the IEPF website www.iepf.gov.in or contact the RTA for
lodging claim for refund of shares and / or dividend from the IEPF Authority.

d) Details of unclaimed dividend on the website

Pursuant to provisions of Investor Education and Protection Fund (Uploading of Information regarding unpaid
and unclaimed amounts lying with Companies) Rules, 2012, the Company has uploaded details of unpaid and
unclaimed dividends lying with the Company on the website of the Company

Details of unpaid and unclaimed dividends up to 31^st March 2025 are uploaded on the website of the IEPF
Authority.

HUMAN RESOURCE MANAGEMENT

Our Employees are most valuable assets of the Company. We encourage innovation, meritocracy and the
pursuit of excellence. We have setup a scalable recruitment and human resources management process,
which enables us to attract and retain employees. Cordial employee relations were maintained throughout
the year in the Company. The directors express their appreciation for the contribution made by employees
to operations of the Company during the year.

DISCLOSURE RELATING TO REMUNERATION OF DIRECTORS, MANAGERIAL PERSONNEL AND PARTICULAR
OF EMPLOYEES

The remuneration paid to the Directors is in accordance with the Nomination and Remuneration Policy
formulated in accordance with Section 178 of the Companies Act, 2013.

The information required pursuant to Section 197 read with rule 5 of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules 2014, in respect of the Directors/employees of the Company
is set out in Annexure-VI to this report.

Pursuant to the provisions of Section 136(1) of the Act and as advised, the statement containing particulars
of employees as required under Section 197(12) of the Act read with Rule 5(2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, will be available for inspection at the
Registered Office of the Company during working hours and Members interested in obtaining a copy of the

same may write to the Company Secretary and the same will be furnished on request. Hence, the Annual
Report is being sent to the Members excluding the aforesaid information.

AUDIT COMMITTEE

The composition, functions and details of the meetings of the Audit Committee held during the year, are
included in the Corporate Governance Report, which forms part of this report.

There have been no instances during the year when recommendations of the Audit Committee were not
accepted by the Board.

NOMINATION AND REMUNERATION COMMITTEE

The Nomination and Remuneration Committee comprises of directors namely Mr. Harihar Prasad Thapak,
Mrs. Mithla Dubey and Mr. Vivek Saihgal.

The NRC is also responsible for reviewing the profile of potential candidates vis-a-vis the required
competencies and meeting potential candidates, prior to making recommendations of their nomination to
the Board.

The NRC is also responsible for developing competency requirements for the Board based on the industry
and strategy of the Company. The NRC reviews and evaluates the profiles of potential candidates for
appointment of Directors and meets them prior to making recommendations of their nomination to the
Board. At the time of appointment, specific requirements for the position including expert knowledge
expected are communicated to the appointee.

The Board reviews the list of core skills, expertise and competencies of the Board of Directors as are required
in the context of the businesses and sectors applicable to the Company which were mapped with each of the
Directors on the Board. The same is disclosed in the Corporate Governance Report forming part of this Annual
Report.

On the recommendation of the NRC, the Board has adopted and framed a Remuneration Policy.

The Company's Policy relating to appointment of Directors, payment of Managerial Remuneration, Directors'
qualifications, positive attributes, independence of Directors and other related matters as provided under
Section 178(3) of the Companies Act, 2013 is furnished as Annexure II and forms part of this Report.

CORPORATE SOCIAL RESPONSIBILITY

The Company's CSR philosophy is based on the belief that a successful business can develop only by creating
a prosperous society around. Reaching out to deprived communities is part of the Company's vision and its
CSR initiatives aim at supplementing governments' endeavors to help the citizens in the vicinity to achieve
better living standards and good quality of life. The Company has been engaging with civil society, public at
large through dissemination of its CSR initiatives.

The CSR efforts of the Company are overseen by the CSR Committee of the Board which is constituted in
accordance with Section 135 of the Companies Act, 2013 and the Companies (Corporate Social Responsibility
Policy) Rules, 2014. The composition, terms of reference, and details of the Committee's meetings are
provided in the Corporate Governance Report, which forms part of this report.

There have been no instances during the year when recommendations of the CSR Committee were not
accepted by the Board.

Corporate Social Responsibility Policy:

The Company has adopted a Corporate Social Responsibility Policy as required under section 135 of the
Companies Act, 2013 for the activities covered under Schedule VII of the Act. The CSR Policy may be accessed
on the Company's website at the link: http:// www.kilpest.com. A brief outline of the CSR Policy, overview of
activities undertaken, the amount spent/unspent, reasons for any unspent amount, executive summary of
Impact Assessment reports and the Committee's composition are disclosed in 'Annexure -1' to this Report.

RELATED PARTY TRANSACTIONS

Your Company has historically adopted the practice of undertaking related party transactions only in the
ordinary and normal course of business and at arm's length as part of its philosophy of adhering to highest
ethical standards, transparency, and accountability.

The Company has formulated a Policy on Related Party Transactions in accordance with the Act and the SEBI
Listing Regulations including any amendments thereto for identifying, reviewing, approving and monitoring
of Related Party Transactions ('RPTs'). During the year under review, the RPT Policy was amended and the
said Policy is available on the Company's website at https://www.Kilpest.com.

All RPTs are presented to the Audit Committee for review and approval. The RPTs entered into during the
year under review were on arm's length basis, in the ordinary course of business and were in compliance
with the applicable provisions of the Act read with the Rules framed thereunder and the SEBI Listing
Regulations. In terms of the Act, there were no materially significant related party transactions entered into
by your Company with its Promoters, Directors and Key Managerial Personnel, or other designated persons,
which may have a potential conflict with the interest of your Company at large, except as stated in the
Financial Statements. Accordingly, the disclosure of RPTs as required under Section 134(3)(h) of the Act in
Form No. AOC-2 is not applicable to the Company for FY 2025-26 and hence does not form part of this Annual
Report.

In terms of Regulation 23 of the SEBI Listing Regulations, the Company submits details of RPTs as per the
prescribed format to the stock exchanges on a half-yearly basis.

MEETINGS OF THE BOARD

Regular meetings of the Board are conducted to discuss and approve various strategies, policies, financial
matters and such other businesses.

Seven meetings of the Board of Directors were held during the year. For further details, please refer to report
on Corporate Governance of this Annual Report.

Details of the composition of the Board and its Committees and of the Meetings held and attendance of the
Directors at such Meetings, are provided in the Corporate Governance Report. The intervening gap between
the Meetings was within the period prescribed under the Act and the Listing Regulations.

Further a separate meeting of the Independent Directors of the Company was also held on 6^th February 2026.

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

A statement giving details of Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and
Outgo, as stipulated under Section 134 of the Companies Act, 2013 read with the Companies (Accounts)
Rules, 2014, is set out herewith as Annexure V to this Report.

ANNUAL RETURN

As required under Section 134(3)(a) and section 92(3) of the Companies Act, 2013, the Annual Return as on
31^st March 2026 has been uploaded on the Company's website at http://www.kilpest.com

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

Details of loans, guarantees and investments covered by the provisions of Section 186 of the Companies
Act, 2013 (if any) are given in Schedule I, J and N of the Standalone financial statements.

FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

The Board members are provided with necessary documents/brochures, reports and internal policies to
enable them to familiarize with the Company's ns and practices. The details of such familiarization
programmes for Independent Directors are posted on the website of the Company and can be accessed at
http://www.kilpest.com/investors.html

INSURANCE

The assets of Company are adequately insured against loss of fire, riot, earthquake, flood etc. and other risks
which are considered necessary by the Management.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF YOUR COMPANY,
WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR AND THE DATE OF THIS REPORT

No material changes and commitments have occurred between the end of the financial year and the date of
this report, affecting the financial position of the Company.

ADMISSION TO DEALINGS ON THE NATIONAL STOCK EXCHANGE OF INDIA LIMITED

During the year under review, the equity shares of the Company were admitted to dealings on the National
Stock Exchange of India Limited (NSE) with effect from 20^th April 2026 under the 'Permitted to Trade'

category. The admission to trading on NSE marks a significant milestone in the Company's growth journey
and is expected to enhance the visibility, accessibility and liquidity of the Company's equity shares for the
investing community.

GREEN INITIATIVES

In commitment to keep in line with the Green Initiatives and going beyond it, electronic copy of the Notice
of 54^th Annual General Meeting of the Company including the Annual Report for FY 2025-26 are being sent
to all Members whose e-mail addresses are registered with the Company / Depository Participant(s).

UPDATION OF EMAIL IDS FOR RECEIVING NOTICES / DOCUMENTS IN ELECTRONIC MODE:

Shareholders who have not registered their email addresses with the Company are requested to register
their email addresses with the Company to enable the Company to deliver notices /documents through e-
mode. Shareholders holding their shares in demat mode also have an option to register their email addresses
with their depository, through their depository participant.

GENERAL

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

1. Details relating to issue of Equity Shares with Differential Rights, Sweat Equity, ESOS etc.

2. Details relating to disclosure in respect of voting rights not exercised directly by the employees in
respect of shares to which the scheme relates.

3. No applications were made or any proceedings were pending against the Company under the
Insolvency and Bankruptcy Code, 2016

NO DEFAULT

The company has not defaulted in payment of interest and/or repayment of loans to any of the financial
institutions and/or banks during the year under review.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
AND REDRESSAL) ACT, 2013

The Company is committed to providing a safe and conducive work environment to all its employees and
associates. A positive workplace environment and a great employee experience are an integral part of our
culture. The Company has in place a policy on prevention, prohibition and redressal of sexual harassment of
women at Work place in line with the requirements of the above Act. Under the said policy, an Internal
Complaints Committee (ICC) has been set up to redress complaints received relating to sexual harassment.

During the financial year under review, the Company has complied with all the provisions of the POSH Act
and the rules framed thereunder. Further details are as follow:

- Number of sexual harassment complaints received- Nil

- Number of sexual harassment complaints Disposed-off during the year- Nil

- Number of sexual harassment cases pending for a period exceeding ninety days- Nil

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

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

MATERNITY BENEFIT COMPLIANCE

The Company affirms that it has duly complied with all provisions of the Maternity Benefit Act, 1961, and has
extended all statutory benefits to eligible women employees during the year.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134(3)(c) of the Companies Act, 2013 (the 'Act'), the Directors,
to the best of their knowledge, confirm that:

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

(ii) Appropriate accounting policies have been applied consistently and judgements and estimates that are
reasonable and prudent have been made 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 the period;

(iii) Proper and sufficient care has been taken for 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) The Annual Accounts have been prepared on a going concern basis;

(v) The internal financial controls to be followed by the Company have been laid down and such internal
financial controls are adequate and are operating effectively; and

(vi) Proper systems have been devised to ensure compliance with the provisions of all applicable laws and
that such systems are adequate and are operating effectively.

PROVISION OF VOTING BY ELECTRONIC MEANS THROUGH REMOTE EVOTING AND EVOTING AT THE AGM

Your Company is providing E-voting facility as required under section 108 of the Companies Act, 2013 read
with Rule 20 of the Companies (Management and Administration) Amendment Rules, 2015. The ensuing
AGM will be conducted through Video Conferencing/ OVAM and no physical meeting will be held and your
company has make necessary arrangements with CDSL to provide facility for remote e-voting and e-voting at
AGM. The details regarding e-voting facility is being given with the notice of the Meeting.

THE FUTURE

Availability of best in the facilities with right blend of technology, vast distribution network, adequate
financial resources, stable tax regime and motivated manpower will facilitate your Company to continue to
drive growth across its various businesses and product categories both in domestic and international
markets.

Your Directors are confident that the Company will continue to create value for its shareholders and other
stakeholders.

ACKNOWLEDGEMENT

The Directors deeply appreciate and value the contribution, dedication, support, hard work and commitment
made by all the employees towards continuous improvement in all functions and areas as well as efficient
utilization of the Company's resources for sustainable and profitable growth.

The Directors would also like to place on record their appreciation for the continued co-operation and
support received by the Company during the year from bankers, financial institutions, government
authorities, farming community, business partners, shareholders, customers and other stakeholders. The
Directors look forward to continuance of the supportive relations and assistance in the future.

FOR AND ON BEHALF OF THE BOARD

DHIRENDRA DUBEY NIKHIL KUBER DUBEY

CHAIRMAN & MANAGING DIRECTOR CHIEF FINANCIAL OFFICER & WHOLETIME DIRECTOR

DIN:01493040 DIN:00538049

PLACE: BHOPAL
DATE: 13^th August 2026