The Board of Directors (“Board”) is pleased to present the Company’s Thirty-third (33^rd) Annual
Report, along with the Audited Standalone Financial Statements and the Auditors’ Report for the
Financial Year ended March 31, 2025.

Further, in compliance with the Companies Act, 2013 (“the Act”) and the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, the Company has made the requisite disclosures in
this report to ensure accountability and transparency in its operations, thereby keeping you informed
about the Company’s performance.

I. FINANCIAL PERFORMANCE

The financial statements of the Company have been prepared in accordance with the Indian
Accounting Standards (“Ind AS”) as amended from time to time read with the Companies (Accounts)
Rules, 2014. The financial statements for the financial year ended March 31^st, 2025 and March 31^st,
2024 are Ind AS compliant.

(INR in lakhs)

Cash Flow Statement

The Cash Flow statement for the year 2024-2025 is attached to the Balance Sheet.

Dividends

The Board has not recommended any dividend during the financial year 2024-2025. The Policy of
the Company is available on the Company’s website at www.mayurflooringslimited.com.

Bonus

The Board has not recommended any dividend during the financial year 2024-2025.

II. FINANCE
DEPOSITS

The Company has not accepted any deposits within the meaning of Section 73 and 74 of the
Companies Act, 2013 read with the Companies (Acceptance of Deposit) Rules, 2014. Accordingly,
there was no principal or interest outstanding as of the Balance Sheet date, nor was there any deposit
in non-compliance of Chapter V of the Companies Act, 2013.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS U/S 186

Pursuant to the provisions of Section 186 of the Companies Act, 2013, read with The Companies
(Meetings of Board and its Powers) Rules, 2014 as amended from time to time (including any
amendment thereto or re-enactment thereof for the time being in force), the Company has not given
any Loans, guarantees and security covered under Section 186 of the Companies Act, 2013.

III. SUBSIDIARIES

As on March 31, 2025, the Company does not have any subsidiaries and Joint Ventures. Accordingly,
the provisions relating to submission of information and documents pertaining to subsidiary
companies under the Companies Act, 2013 and the SEBI Listing Regulations are not applicable.

IV. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The detailed review of the operations, state of affairs, performance and outlook of the Company and
its business as stipulated under Regulation 34 of the SEBI Listing Regulations, is presented in a
separate section forming part of Annual Report under the head ‘Management Discussion and
Analysis’.

V. DIRECTORS

As on March 31, 2025, the Board of Directors of your Company comprises of 5 (Five) Directors out
of which 2 (Two) are Executive Directors, 2 (Two) are Non-Executive Independent Directors and 1
(One) is Non-Executive Director. The Board composition is in compliance with the requirements of
the Act, the SEBI Listing Regulations and the circulars / directions / notifications issued by therein.

All appointments of Directors are made in accordance with the relevant provisions of the Act, the
SEBI Listing Regulations, and other laws, rules, guidelines as may be applicable to the Company.
The Nomination & Remuneration Committee of the Company exercises due diligence inter-alia to
ascertain the ‘fit and proper’ person status of person proposed to be appointed on the Board of
Directors of the Company, and if deemed fit, recommends their candidature to the Board of Directors
for consideration. During the year under review, there was no appointment or cessation of any director
of the Company.

In terms of the provisions of Section 152 of the Companies Act, 2013, Shri. Mahavir N Sundrawat
(DIN: 01928303) is liable to retire by rotation at the ensuing Annual General Meeting and, being
eligible, offers himself for re-appointment.

Disclosure of relationships between Directors inter-se

CHANGE IN DIRECTORS AND KEY MANAGERIAL PERSONNEL

There were no such changes in the Board of Directors and Key Managerial Personnel during the year
under review in accordance with Section 203 of the Companies Act, 2013.

The details of the Key Managerial Personnels of your Company in terms of Section 203 of the
Companies Act, 2013 as on March 31, 2025 are as follows:

DIRECTOR(S) DISCLOSURES

Based on the declarations and confirmations received pursuant to section 164 and 184 of the Act,
none of the Directors on the Board of your Company are disqualified from being appointed as
Directors. Further the Company has received the declarations from all the Independent Directors as
per the Section 149(7) of the Act and the Board is satisfied that all the Independent Directors meet
the criteria of independence as mentioned in Section 149(6) of the Act.

Further, the Independent Directors have confirmed that they have included their names in the
Independent Director’s databank maintained by the Indian Institute of Corporate Affairs in terms of
Section 150 of the Act read with Rule 6 of Companies (Appointment and Qualifications of Directors)
Rules, 2014.

BOARD EVALUATION

The Company has formulated a policy for performance evaluation of the Independent Directors, the
Board, its committees, and other individual Directors, which includes the criteria for evaluation of
Non-Executive and Executive Directors. The Policy of the Company is available on the Company’s
website at www.mayurflooringslimited.com. In accordance with the provisions of the Companies
Act, 2013 and the SEBI (LODR) Regulations, 2015, the Board has carried out an annual evaluation
of its own performance, the performance of its committees, and of individual Directors, including
Independent Directors, based on the established evaluation framework. Pursuant to Rule 5(1)(xii) of
the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, it is affirmed
that the remuneration paid to the Directors, KMP and Senior Management is as per the Remuneration
Policy of your Company.

COMMITTEES OF BOARD

The Board of Directors, in compliance with the applicable provisions of the Companies Act, 2013,
SEBI (LODR) Regulations, 2015, and other relevant laws, and for ensuring effective governance and
operational efficiency, has constituted various Committees to oversee and manage specific functional
areas of the Company.

AUDIT COMMITTEE

The Audit Committee and terms of reference of the Audit Committee are in compliance with the
provisions of Section 177 of the Act. All members of the Audit Committee are financially literate and
have accounting or related financial management expertise. During the financial year 2024-25, 04
Audit Committee meetings were convened. The Audit Committee consists of the following members:

NOMINATION AND REMUNERATION COMMITTEE

The Nomination and Remuneration Committee and the terms of reference of the Nomination and
Remuneration Committee are in compliance with the provisions of Section 178 of the Act. During
the financial year 2024-25, 03 meeting was convened. The Nomination and Remuneration Committee
consists of the following members:

STAKEHOLDERS’ RELATIONSHIP COMMITTEE

The terms of reference of the Stakeholders Relationship Committee are in compliance with the
provisions of Section 178 of the Act. During the financial year 2024-25, 03 meeting was convened.
The Stakeholders Relationship Committee consists of the following members:

MEETINGS OF THE BOARD

During the financial year 2024-2025, 04 (Four) Board meetings were convened. The details of Board
and Committee meetings held during the year under review, are given in the Corporate Governance
Report, forming part of this Annual Report. The gap between these meetings was within the
prescribed period under the Act and the SEBI Listing Regulations.

DIRECTOR’S RESPONSIBILITY STATEMENT

As required under Section 134 of the Act, and to the best of their knowledge and belief and based on
the information and explanations obtained from the operating management, your Directors hereby
confirm that:

A. In the preparation of the annual accounts for the year under review, the applicable accounting
standards had been followed along with the 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 as on March 31, 2025, and of its profit and loss for the period
ended on that date;

C. The Directors had 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;

D. The Director had prepared the annual accounts for the year under review on a ‘going concern’
basis; and

E. The Directors have laid down Internal Financial Controls to be followed by the Company and
that such Internal Financial Controls are adequate and were operating effectively; and

F. The Directors had devised proper systems to ensure compliance with the provisions of all the
applicable laws and that such systems are adequate and operating effectively.

PARTICULARS OF CONTRACTS WITH RELATED PARTIES / RELATED PARTY
TRANSACTIONS

During the year under review the company has entered into various related party transactions. These
were submitted for approval of proper and competent authorities. All the transactions entered into
with the Related Parties during the year under review were on an arm’s length basis and were in the
ordinary course of business. Agreement and contracts executed and entered with such parties were
approved and ratified wherever required by the competent authority. The statement of related party
transaction is enclosed in this report.

SECRETARIAL AUDITOR & THEIR REPORT

Pursuant to the provisions of Section 204 of the Act read with Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the Board had appointed M/s. B.L. Harawat
and Associates, Company Secretaries in Practice, for conducting Secretarial Audit of the Company
for the Financial Year 2024-25. The Secretarial Audit Report is self-explanatory and thus does not
require any further comments and is enclosed to this report.

INTERNAL AUDITOR

M/s Bansilal Shah & Co (Firm Registration No. 000384W) were appointed as the Statutory Auditor
of the Company for the Financial Year ended 2024-25. M/s Bansilal Shah & Co, Statutory Auditor
in their report(s) on the Standalone Audited Financial Statements of your Company for the financial
year ended March 31, 2025, have not made any qualifications, reservations, adverse remarks or
disclaimers and said report forms part of the Annual Report. Further, the notes to the accounts referred
to in the Auditor’s Report are self-explanatory.

COST AUDITOR

The provisions of Section 148 regarding the maintenance of Cost records are not applicable to
Company.

CORPORATE GOVERNANCE

As per regulation 15(2) of the Listing Regulation, the Compliance with the Corporate Governance
provisions shall not apply in respect of the following class of the Companies:

1. Listed entity having paid up equity share capital not exceeding Rs.10 Crore and Net worth not
exceeding Rs. 25 Crore, as on the last day of the previous financial year;

2. Listed entity which has listed its specified securities on the SME Exchange.

Since our Company falls within the ambit of the aforesaid exemption, compliance with the provisions
of Corporate Governance is not applicable to the Company. Accordingly, the Corporate Governance
Report does not form part of the Annual Report for the financial year 2024-25.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

In terms of the provisions of Section 177(9) and Section 177(10) of the Companies Act, 2013, the
Board of Directors of the Company has adopted a Whistle Blower Policy/Vigil Mechanism. This
mechanism provides a formal process for the Directors and employees of the Company to report
concerns about unethical behavior, actual or suspected fraud, or violation of the Company’s Code of
Conduct. The Whistle Blower Policy/ Vigil Mechanism Policy of the Company is available on the
Company’s website at www.mayurflooringslimited.com.

VIGILANCE OFFICER CHAIRMAN OF THE AUDIT

Company Secretary COMMITTEE

Mayur Floorings Limited Sh. Sandip Arvindbhai Kothari

Plot No. 5 & 6, Road No.4, Dahod Road, Mayur Floorings Limited

Industrial Area, Banswara, Rajasthan, India - Plot No. 5 & 6, Road No.4, Dahod Road,

327001 Industrial Area, Banswara, Rajasthan, India -

Tel: 9414102109 327001. Tel: 9414102109

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

As required under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013 and Rules framed thereunder, the Company has implemented a policy on
prevention, prohibition and redressal of sexual harassment at workplace. This has been widely
communicated internally. Your Company has constituted ‘Internal Complaints Committee’ to redress
complaints relating to sexual harassment at its workplaces. The Policy of the Company is available
on the Company’s website at www.mayurflooringslimited.com. The Company has not received any
complaints relating to sexual harassment during financial year 2024-25.

(a) Number of complaints of Sexual Harassment received in the year: Nil

(b) Number of complaints disposed off during the year: Nil

(c) Number of cases pending for more than ninety days: Nil

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 and hence, Company is not required to adopt
the CSR Policy or constitute CSR Committee during the year under review.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY REGULATORS OR COURTS

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

ANNUAL RETURN

Pursuant to the provisions of Section 134(3)(a) and Section 92(3) of the Act read with Rule 12 of the
Companies (Management and Administration) Rules, 2014, a copy of the Annual Return of the
Company for the financial year ended March 31, 2025 has been uploaded on the website of the
Company and can be accessed at www.mayurflooringslimited.com

REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL & SENIOR
MANAGEMENT

The Company has in place a Nomination and Remuneration Policy which lays down a framework for
selection and appointment of Directors, Key Managerial Personnel, Senior Management and for
determining qualifications, and independence of directors, fixation of their remuneration as per the
Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015.

No such employee is employed throughout the financial year who is in receipt of remuneration which
involves the reporting requirement as provided under section 5(2) of the companies (Appointment
and Remuneration of Managerial Personnel) Rules 2014. The Policy of the Company is available on
the Company’s website at www.mayurflooringslimited.com

COMPLIANCE OF ACCOUNTING STANDARDS

As per requirements of the SEBI Listing Regulations and applicable Accounting Standards, your
Company has made proper disclosures in the Financial Statements. The applicable Accounting
Standards have been duly adopted pursuant to the provisions of Sections 129 and 133 of the Act.

COMPLIANCE WITH SECRETARIAL STANDARDS

During the year under review, your Company has followed the applicable Secretarial Standards,
relating to the meeting of the Board of Directors (SS-1) and the General Meetings (SS-2), issued by
the Institute of Company Secretaries of India (ICSI) and mandated as per the provisions of Section
118 (10) of the Act.

REPORTING OF FRAUDS BY AUDITORS

During the year under review, there have been no frauds reported by the Statutory Auditors of the
Company under sub-section (12) of Section 143 of the Act.

MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE COMPANY

There remains no material change affected after the date of Balance Sheet which needs to be
mentioned specifically.

CHANGE IN THE NATURE OF COMPANY’S BUSINESS

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

RISK MANAGEMENT POLICY: Not applicable.

OPERATIONS DURING THE INTERIM PERIOD

There are no material changes and commitments affecting the financial position of the company
between the end of financial year and the date of report.

CONSOLIDATED FINANCIAL STATEMENTS AND CASH FLOW STATEMENT

During the reporting period, the Company does not have any subsidiary, associate, or joint venture.
Accordingly, the requirement to prepare Consolidated Financial Statements under the Companies
Act, 2013 is not applicable.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

The Company has proper and adequate internal control systems, which ensure that all assets are
safeguarded against loss from unauthorized use and all transactions are authorized, recorded and
reported correctly. The Management continuously reviews the internal control systems and

procedures to ensure orderly and efficient conduct of business. Internal audits are regularly
conducted, using external and internal resources to monitor the effectiveness of internal controls.

TECHNOLOGY: The Company is using modern technology available for the entire construction
process. The management is paying its proper attention to get the maximum yield coupled with
quality with requisite quantity of energy.

OTHER STATUTORY DISCLOSURES:

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

(a) Issue of equity shares with differential rights as to dividend, voting or otherwise.

(b) Issue of shares (including sweat equity shares) to employees of the Company under any scheme.

(c) None of the Whole-time Directors of the Company receive any remuneration or commission from
any of its subsidiaries.

CONSERVATION OF ENERGY, ABSORPTION, FOREIGN EXCHANGE EARNINGS AND
OUTGO

During the financial year under review, the Company has not undertaken any foreign exchange
transactions. Accordingly, there were no foreign exchange earnings or outgo during the year. The
Company is engaged in non-manufacturing activities, and as such, disclosure of particulars with
respect to power and energy consumption is not applicable and has therefore not been provided.

EMPLOYEE’S RELATIONS

Relations between the management and employees remain cordial during the year under review. The
Director’s place on records their appreciations of the efficient and loyal services rendered by the
employees at all levels.

BUSINESS RESPONSIBILITY REPORTING

The Business Responsibility Reporting as required by Clause 55 of the Listing Agreement with the
Stock Exchanges is not applicable to your Company for the financial year ending March 31, 2025.

GREEN INITIATIVE

Your Company has taken the initiative of going green and minimizing the impact on the environment.
The Company has been circulating the copy of the Annual Report in electronic format to all those
Members whose email addresses are available with the Company. Your Company appeals other
Members also to register themselves for receiving Annual Report in electronic form.

ACKNOWLEDGEMENT

Directors are thankful to all the shareholders, Advisors, Bankers, Governmental Authorities, media
and all concerned for their continued support. The Directors acknowledge the commitment and
contribution of all employees to the growth of the Company. Our consistent growth was made
possible by their hard work, solidarity, cooperation and support.

By order of the Board of Directors
For: Mayur Floorings Limited

Sd/-

Mahavir N Sundrawat
Managing Director (DIN: 01928303)

Date: May 29, 2025 | Place: Banswara