Your directors present herewith 33^rd Annual Report of the Ambitious Plastomac Company
Limited ("the Company" or "APCL") together with the audited financial statements for the
financial year ended 31^st March, 2024.

1) FINANCIAL RESULTS:

The financial performance of the Company for the financial year ended 31^st March, 2024
are summarized below: -

2) STATE OF THE COMPANY'S AFFAIRS:

During the period under review, the Company has commenced its business operations
and generated revenue of Rs. 596.45 Lakhs. Your Company has earned profit of Rs. 6.09
Lakhs as against loss of Rs. 48.21 lakhs. However, your directors are confident and
optimistic of achieving upward growth and achieving much better results in the coming
years. EPS for the year was Rs. 0.10 (increase of 113%) per share as compared to Rs. (0.83)
in the previous year. Detailed working on operation of the Company is provided in the
management discussion and analysis report which as forms part of this report.

3) TRANSFER TO RESERVE:

In order to conserve resources, the Board of Directors of the Company has decided not to
transfer any amount to the reserves for the year under review.

4) DIVIDEND:

In order to conserve resources, your directors do not recommend any dividend for the
year under review.

5) DIVIDEND DISTRIBUTION POLICY:

As on 31^st March, 2024, Company does not fall into top 1,000 listed entities based on
market capitalization. Hence, formulation of dividend distribution policy does not
applicable to the Company.

6) CONSOLIDATED FINANCIAL STATEMENTS:

As on 31^st March, 2024, the Company has no subsidiary, associate or joint venture
company as defined under the Act. Hence, provisions of the Section 133 of the Act and
Ind AS - 110 - Consolidated Financial Statement does not applicable to the Company.

7) TRANSFER OF UNCLAIMED DIVIDEND / SHARES TO IEPF:

No dividend was declared by the Board of Directors of the Company for the financial year
2016-2017. Hence, there is no requirement to transfer unclaimed dividend / Shares to
IEPF.

8) SHARE CAPITAL STRUCTURE:

There is no change in authorized and paid-up share capital of the company during the
year under review

9) DIRECTORS AND KEY MANAGERIAL PERSONNEL:

A. Retire by Rotation of Director:

In accordance with the provisions of Section 152 of the Act and the rules framed there
under, Mr. Pinkal R. Patel, Managing Director of the Company retire by rotation at the

ensuing AGM and he being eligible offer himself for re-appointment. The board
recommends his re-appointment.

B. Appointment / Resignation / Retirement of Directors:

During the year under review, Mr. Hardik Kanubhai Patel (DIN: 06512241) and Mr.
Nimesh Khodabhai Patel (DIN: 06624565) shall ceased to be an Independent Directors
of the Company with effect from close of business hours on 31^st March, 2024,
consequent upon completion of their two terms, aggregating to ten years.

Based upon the recommendation of Nomination and Remuneration Committee, the
Board has considered and approved the appointment of Mr. Mehul Maheshbhai Raval
(DIN: 10561729) and Mr. Bakulbhai Joitaram Patel (DIN: 10561763) as an Additional
Directors (Non-Executive Independent Directors) of the Company for an initial term of
5 (five) consecutive years with effect from 1^st April, 2024 up to 31^st March, 2029.
Subsequently, a notice of postal ballot dated 30^th May, 2024, was send to the
shareholders have been passed the resolutions with requisite majority on the last date
of the receipt of the e-voting, i.e. on Sunday, 30^th June, 2024. Apart from said changes,
there is no appointment / resignation by any director from the Board of the Company.

C. Key Managerial Personnel:

The following have been designated as the Key Managerial Personnel of the Company
pursuant to Sections 203 of the Act read with the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014: -

1. Mr. Pinkal R. Patel - Managing Director

2. Mr. Monark R. Patel - Chief Financial Officer

3. Ms. Hina D. Patel - Company Secretary & Compliance Officer

During the year under review, Ms. Poorvi Gattani has resigned from the post of
Company Secretary & Compliance Officer of the Company effective from 30^th March,
2024. The Board of Directors has appointed Ms. Hina D. Patel (Membership Number:
A69304) as a Company Secretary & Compliance Officer of the Company w.e.f. 1^st April,
2024 who is a Key Managerial Personnel as per Section 203 of the Act. Apart from the
said change, there is no other change in the Key Managerial personnel of the
Company.

10) DECLARATION GIVEN BY INDEPENDENT DIRECTORS:

The Company has received the necessary declarations from the independent directors of
the Company in accordance with Section 149 (7) of the Act and Regulation 16 (1) (b) of
the SEBI Listing Regulations confirming that they meet the criteria of independence
prescribed under the Act and the SEBI Listing Regulations. All the Independent Directors
have also confirmed that in terms of Rule 6 (3) of the Companies (Appointment and
Qualification of Directors) Rules, 2014, they have registered themselves with the
Independent Director's database as prescribed under the Act. Further, in terms Rule 6 (4)
of the Companies (Appointment and Qualification of Directors) Rules, 2014, Independent
Directors were preparing and will appear for Online Proficiency Self-Assessment Test as
required by IICA.

In the opinion of the board, there has been no change in the circumstances which may
affect their status as independent directors and the board is satisfied of the integrity,
expertise and experience (including proficiency in terms of Section 150 (1) of the Act and
applicable rules thereunder) of all independent directors on the board.

11) PERFORMANCE EVALUATION OF THE BOARD AS WHOLE, COMMITTEE AND
INDIVIDUAL DIRECTORS:

Pursuant to the provisions of the Act, and the SEBI Listing Regulations, the Board has
carried out an annual evaluation of its own performance and that of its committees as
well as performance of the Directors individually. Feedback was sought by way of a
structured questionnaire 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 and the evaluation was
carried out based on responses received from the directors.

The evaluation is performed by the board, nomination and remuneration committee and
independent directors with specific focus on the performance and effective functioning of
the Board and individual directors. In line with SEBI Circular No.
SEBI/HO/CFD/CMD/CIR/P/2017/004, dated 5^th January, 2017, the Company adopted the
criteria recommended by the SEBI. The performance evaluation of the chairman and non¬
independent directors was also carried out by the independent directors. The
performance of the directors, the board as a whole and committee of the board were
found to be satisfactory.

During the financial year ended 31^st March, 2024, the performance evaluation of the
Board, Committees and Directors was conducted based on the criteria, framework and

questionnaires approved by the Nomination and Remuneration Committee and the
Board. The details of the performance evaluation exercise conducted by the Company are
set out in the Corporate Governance Report.

12) CHANGE(S) IN THE NATURE OF BUSINESS:

During the financial year ended 31^st March, 2024, there was no change in the nature of
the business of the Company.

13) DIRECTORS' RESPONSIBILITY STATEMENT:

In accordance with the provisions of Section 134 (5) (c) of the Act and based on the
information provided by the management, the Directors state that:

A. in the preparation of the annual accounts for the year ended 31^st March, 2024, the
applicable accounting standards have been followed along with proper explanation
relating to material departures, if any;

B. the directors have selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a
true and fair view of the state of affairs of the Company at the end of the financial year
on 31^st March, 2024 and of the profit of the Company for the year under review;

C. the directors have taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding the
assets of the Company and for preventing and detecting fraud and other irregularities;

D. the annual accounts have been prepared on a going concern basis;

E. the directors had laid down internal financial controls to be followed by the Company
and that such internal financial controls are adequate and were operating effectively;
and

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.

14) NUMBER OF MEETINGS OF THE BOARD:

During the financial year ended 31^st March, 2024, 5 (five) meetings of the Board of
Directors of the Company were held on 29^th May, 2023, 11^th August, 2023, 31^st October,
2023, 13^th February, 2024 and 30^th March, 2024.

15) SECRETARIAL STANDARDS:

The Company has followed the applicable secretarial standards issued by the Institute of
Company Secretaries of India (ICSI).

16) INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY:

In Pursuant to Section 134 (5) (e) of the Act the Internal Financial Controls with reference
to financial statements as designed and implemented by the Company are adequate. The
nature of the Company's business and size and complexity of its operations are in place
and have been operating satisfactorily. Internal Control Systems consisting of policies and
procedures are designed to ensure reliability of financial reporting, timely feedback on
achievement of operational and strategic goals, compliance with policies, procedure,
applicable laws and regulations and that all assets and resources are acquired
economically, used efficiently and adequately protected. The code of conduct for senior
management and employees of your Company (the Code of Conduct) commits
management to financial and accounting policies, systems and processes.

Your Company's financial statements are prepared on the basis of the significant
accounting policies that are carefully selected by management and approved by the audit
committee and the board. These accounting policies are reviewed and updated from time
to time. The Board of Directors of the Company are responsible for ensuring that internal
financial controls have been laid down in the Company and such controls are adequate
and operating effectively. The board has adopted the policies and procedures for
ensuring the orderly and efficient conduct of its business, including adherence to the
Company's policies, the safeguarding of its assets, the prevention and detection of frauds
and errors, the accuracy and completeness of the accounting records, and the timely
preparation of reliable financial disclosures etc. During the period under review, no
material or serious observation has been received from the Internal Auditors of the
Company for inefficiency or inadequacy of such controls.

17) MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL
POSITION OF THE COMPANY:

There are no material changes and commitments affecting the financial position of the
Company which occurred between the financial year ended 31^st March, 2024 to which the
financial statements relates and the date of signing of this report.

18) PUBLIC DEPOSITS:

The Company has not accepted any deposits from the public in terms of Section 73 and
74 and Chapter V of the Act read with the Companies (Acceptance of Deposits) Rules,
2014. Hence, no amount on account of principal or interest on public deposits was
outstanding as on the date of the balance sheet.

19) PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION

186 OF THE COMPANIES ACT, 2013:

Pursuant to provision of the Section 186 of the Act, Company have not given any
guarantee or provided any security during the year under review. The details of loans and
investment have been disclosed in notes to the financial statements, if any.

20) SUBSIDIARY COMPANIES:

During the financial year ended 31^st March, 2024, there are no subsidiaries, associates or

joint venture companies within the meaning of Section 2 (6) of the Act. No other
Company has become or ceased to be subsidiary, joint venture or associate of the
Company. Hence, a statement containing the salient features of financial statements of
the Company's subsidiary, associates or joint venture companies in Form No. AOC-1 is not
applicable to the Company.

21) INSURANCE:

During the financial year ended 31^st March, 2024, there are no property (land and
buildings), plant and equipment. Hence, not required to take adequate insurance cover by
the Company.

22) PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

All related party transactions are entered into only after receiving prior approval from the
Audit Committee. A statement of all related party transactions entered into is placed
before the Audit Committee and Board of Directors for its review on a quarterly basis,
specifying the nature, value and terms of the transaction.

During the year under review, the Company has entered into transactions with related
parties as defined under Section 2 (76) of the Act read with Companies (Specification of
Definitions Details) Rules, 2014, and applicable accounting standards, which were in the
ordinary course of business and on arms' length basis and in accordance with the policy
on related party transactions of the Company. During the year, there was no related party
transaction entered into by the Company that requires disclosure in Form AOC-2, hence,
disclosure in Form AOC-2 is not applicable to the Company.

The disclosures pertaining to related party transactions as per the applicable accounting
standards forms part of the notes to the financial statements provided in this annual
report.

23) CORPORATE SOCIAL RESPONSIBILITY (CSR):

The Company have not attracted the provision as specified under Section 135 of the Act
i.e. Corporate Social Responsibility, Hence, the Company does not constitute CSR
Committee and not taken any steps towards Corporate Social Responsibility.

24) POSTAL BALLOT

During the year under review, there are two special resolutions which required to be put
through postal ballot. The Postal Ballot Notice dated 30^th May, 2024 for seeking the
members approval in respect of appointment of Mr. Mehul Maheshbhai Raval (DIN:
10561729) as an Independent Director of the Company and appointment Mr. Bakulbhai

Joitaram Patel (DIN: 10561763) as an Independent Director of the Company by way of
passing of Special Resolution. The shareholders have passed the resolutions with requisite
majority on the last date of the receipt of the e-voting, i.e. on Sunday, 30^th June, 2024.

25) HUMAN RESOURCES DEVELOPMENT:

The management believes that competent and committed human resources are vitally
important to attain success in the organization. It is always proactive with respect to the
human resource development activities. A significant effort has also been undertaken to
develop leadership as well as technical / functional capabilities in order to meet future
talent requirement.

26) MATERIAL CHANGES AND COMMITMENT AFFECTING THE FINANCIAL POSITION OF
THE COMPANYWHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL
YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND
THE DATE OF THE REPORT:

No material changes and commitments affecting the financial position of the Company
occurred between the end of the financial year to which these financial statements relate
and the date of this report.

27) DISCLOSURE OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY REGULATORS
OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND
COMPANY'S OPERATIONS IN FUTURE:

No orders have been passed by any Regulator / Court / Tribunal, impacting on the status
of going concern and the Company's operations in future.

28) PARTICULARS OF EMPLOYEES (DISCLOSURE UNDER RULE 5 OF COMPANIES
(APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES,
2014):

During the financial year ended 31^st March, 2024, the executive directors and chief
financial officer do not avail any benefits from the Company. Further, only Company
Secretary has received remuneration as per industry norms. The information required
under Section 197 (12) of the Act read with Rule 5 (1) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014, as forms part of this directors'
report (Annexure - 1). No employee of the Company was in receipt of the remuneration
exceeding the limits prescribed under Rule 5 (2) and (3) of the Companies (Appointment

and Remuneration of Managerial Personnel) Rules, 2014, hence, not applicable to the
Company.

29) ANNUAL RETURN:

As required pursuant to Section 92 (3) of the Act and rule 12 (1) of the Companies
(Management and Administration) Rules, 2014, an extract of annual return is a part of this
annual report also disclosed on the website www.ambitiousplastomac.com.

30) PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNINGS AND OUTGO:

A. CONSERVATION OF ENERGY:

• The steps taken or impact on conservation of energy: Company does not have
manufacturing unit, therefore, no plant & machinery which consume more
electricity. Further, the Company has taken measures to consume minimum power
consumption at the registered office of the Company

• The steps taken by the Company for utilizing alternate sources of energy: The
Company have used energy saving / power saver appliances within the
organization. Further, the Company endeavors in identify the alternative source of
energy so as to save the natural source of energy to an extent as much as possible.

• The Capital investment on energy conservation equipments: Nil

B. TECHNOLOGY ABSORPTION:

• The efforts made towards technology absorption: Company does not have
manufacturing unit. Company assures that any needs of heavy machinery in future,
Company always been making best effort towards technology absorption,
adaptation and innovation.

• The benefits derived like product improvement, cost reduction, product
development or import substitution: Nil

• In case of imported technology (imported during the last three years reckoned
from the beginning of the financial year): Nil

• The expenditure incurred on Research and development (R & D): Nil

C. FOREIGN EXCHANGE EARNINGS & OUT GO:

• Foreign Exchange Earning: Nil

• Foreign Exchange Outgo: Nil

31) AUDITORS AND AUDITORS' REPORT:

A. Statutory Auditors:

The members of the Company in accordance with Section 139 of the Act have passed
a resolution for appointment of M/s. Pankaj K Shah Associates, (Firm Registration No.
107352W) as Statutory Auditors of the Company for a period of 5 years in the AGM
held on 30^th September, 2022 to hold office up to the conclusion of 36^th AGM of the
Company to be held in the year 2026-2027.

The auditor has issued auditors' report with modified opinion i.e. it contain
qualification or adverse remark: The Company has not recognised for undisputed
income tax liability of Rs. 232.66 Lakhs including penalty in respect of earlier years. The
company has also not provided the interest payable on the said amount of unpaid
taxes, the amount of such interest is unascertainable in absence of necessary
information. The accounting treatment followed by the company in this regard is not
in accordance with Ind AS 12 - "Income taxes". As a result of non-recognition of
undisputed tax liability, the balance of other equity and Current tax liability, in the
balance sheet are understated to the extent of Rs. 232.66 Lakhs. Further, in the
absence of necessary information in respect of interest payable on such income tax
liability, its impact on the financial statements including the loss for the year is not
quantifiable.

Management's Response on qualification / adverse remark: The issues currently
facing the income tax department are largely similar to those addressed in the
previous year. The Company is actively working on reopening all pending cases with
the IT authorities and is optimistic about resolving these outstanding matters.

B. Secretarial Auditors

Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014, the board of directors have
appointed M/s. Parthkumar & Associates, Practicing Company Secretaries (Certificate
of Practice Number: 22741) to undertake the secretarial audit of the Company for the
financial year ended 31^st March, 2024. The secretarial auditors report issued by M/s.
Parthkumar & Associates, Practicing Company Secretaries in Form MR - 3 forms part
of this directors' report (Annexure - 2).

C. Cost Auditors

The Company have not attracted the provision as specified under Section 148 of the
Act i.e. Central Government to Specify Audit of Items of Cost in Respect of Certain
Companies, Hence, the Company does not appoint cost auditor and not carry out cost
audit during the year under review.

32) REPORTING OF FRAUDS BY AUDITORS:

During the year under review, the statutory auditors and secretarial auditor 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 Act.

33) MAINTENANCE OF COST RECORDS SPECIFIED BY THE CENTRAL GOVERNMENT
UNDER SECTION 148 OF THE ACT:

The Company is no required to maintain cost records under Section 148 (1) of the Act,
read with the Companies (Cost Records and Audit) (Amendment) Rules, 2014. Hence, not
applicable to the Company during the year under review.

34) BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT:

Pursuant to the Regulation 34 (2) (f) of the SEBI Listing Regulations, Company is not fall
under top thousand listed entities based on market capitalization immediately on
preceding financial year, hence, not require to submit the business responsibility report.

35) PROHIBITION OF INSIDER TRADING:

In terms of the provisions of the Securities and Exchange Board of India (Prohibition of
Insider Trading) Regulations, 2015, as amended ("SEBI PIT Regulations"), the Company has
adopted the revised "Code of Conduct to Regulate, Monitor and Report Trading by
Insiders" ("the Code"). The Code is applicable to promoters, all directors, designated
persons and connected persons and their immediate relatives, who are expected to have
access to unpublished price sensitive information relating to the Company. The Company
has also formulated a 'Code of Practices and Procedures for Fair Disclosure of
Unpublished Price Sensitive Information (UPSI)' in compliance with the PIT Regulations.

36) COMMITTEES OF THE BOARD:

The Board Committees are set up under the formal approval of the Board to carry out
clearly defined roles under which are considered to be performed by members of the
Board. The Board supervises the execution of its responsibilities by the Committees and is
responsible for their action.

A. AUDIT COMMITTEE:

The role and terms of Audit Committee articulates the roles, responsibilities and
powers of the Audit Committees as specified under Regulation 18 (3) read with
Schedule II (Part C) of the SEBI Listing Regulations and Section 177 of the Act. Further,
all the recommendations made by the audit committee were accepted by the Board.

During the financial year ended 31^st March, 2024, the audit committee met four times
on 29^th May, 2023, 11^th August, 2023, 31^st October, 2023 and 13^th February, 2024. The
composition and details of attendance of members of the Committee are given as
under:

• The constitution of the committee is in accordance with the applicable provisions of
the Act and SEBI Listing Regulations, as amended.

• The committee invites the representatives of the statutory and internal auditor(s) as
when required. The Company Secretary acts as a secretary to the audit committee.

• The Chairman of audit committee was present at the last AGM held on 30^th
September, 2023.

B. NOMINATION AND REMUNERATION COMMITTEE:

The role and terms of the Nomination and Remuneration Committee are in line with
Regulation 19 read with Part D of Schedule II of the SEBI Listing Regulations and

Section 178 (1) of the Act and formulated the policy setting out the criteria for
determining qualifications, positive attributes, independence of a Director and policy
relating to remuneration for Directors, Key Managerial Personnel and other
employees. The said policy is available on the website of the Company at
www.ambitiousplastomac.com.

During the financial year ended 31^st March, 2024, nomination and remuneration
committee met two times on 29^th May, 2023 and 30^th March, 2024. The company
secretary acts as the secretary to the Committee. The composition and details of
attendance of members of the Committee are given as under. The composition of the
committee is in compliance of the provisions of the Act and SEBI Listing Regulations as
amended.

C. STAKEHOLDERS RELATIONSHIP COMMITTEE:

The role and terms of the Stakeholders Relationship Committee are as per Section 178
(5) of the Act and Regulation 20 read with Part D of Schedule II of SEBI Listing
Regulations, the Company has in place, a Stakeholders' Relationship Committee
("SRC"), During the financial year ended 31^st March, 2024, stakeholder's relationship
committee met four times. The composition of the Committee is in compliance of the
provisions of the Act and SEBI Listing Regulations as amended and details of
attendance of members of the Committee at the meetings are given as under:

D. INDEPENDENT DIRECTORS' MEETING:

During the financial year ended 31^st March, 2024, Independent Directors of the
Company met on 13^th February, 2024 without the attendance of Non-Independent
Directors and members of the Board. The Independent Directors reviewed the
performance of the Non-Independent Directors and the Board as whole. The
performance of the Chairman taking into account the views of executive Directors and
Non-Executive Directors and assessed the quality, quantity and timeline of flow of
information between Company management and Board.

37) VIGIL MECHANISM / WHISTLE BLOWER POLICY:

The Board of Directors on the recommendations of the Audit Committee has approved
and adopted a vigil mechanism / whistle blower policy in line with the provisions of
Section 177 (9) and Section 177 (10) of the Act, read with Rule 7 of The Companies
(Meetings of Board and its Powers) Rules, 2014 and Regulation 22 of SEBI Listing
Regulations, that provides a formal mechanism for directors, employees or business
associates for reporting the unethical behavior, malpractices, wrongful conduct, frauds,
violations of the Company's code etc. to approach the chairman of the audit committee.
Your Company is committed to highest standards of ethical, moral and legal business
conduct of business operations.

The employees of the Company have the right / option to report their concern / grievance
to the Chairman of the Audit Committee. No person has been denied access to the
chairman of the Audit Committee.

38) DETAILS OF INVESTOR'S GRIEVANCES / COMPLAINTS:

1. No. of investors complaints received by the RTA / Company during the year: Nil

2. No. of complaints not resolved of shareholders / investors during the year: Nil

3. No. of complaints pending as at the end of the year: Nil

39) COMPLIANCE OFFICER:

To,

Company Secretary and Compliance Officer,

Ambitious Plastomac Company Limited,

Regd. Office: Office No. 703, Seventh Floor, Royal Square, Nr. R. K. Royal Hall,

Science City Road, Sola, Ahmedabad, Gujarat - 380 060, India.

Ph. No.: 91-79844 20674, E-Mail: ambitiousplasto@gmail.com.

40) RISK MANAGEMENT POLICY:

The Board of Directors of the Company has monitored risk management and has a
defined framework which monitors the risk mitigation plan for the Company. It identifies
key risk areas, periodically reviews the risk management plan and ensures its
effectiveness. The major risks identified by the businesses and functions are systematically
addressed through mitigating actions on a continuing basis. The audit committee is also
looking after the area of financial risks and controls. At present, in the opinion of the
Board there is no identification of Risk element that may threaten the existence of the
Company.

41) TENTATIVE SCHEDULE FOR CONSIDERING FINANCIAL RESULTS:

1. For the quarter ending 30^th June 30, 2024: On or before 14^th August, 2024;

2. For the quarter ending 30^th September, 2024: On or before 14^th November, 2024;

3. For the quarter ending 31^st December, 2024: On or before 14^th February, 2025;

4. For the quarter ending 31^st March, 2025: On or before 30^th May, 2025.

42) CORPOTRATE GOVERNANCE:

In terms of Regulation 15 (2) of SEBI Listing Regulations, Company does not have paid up
equity share capital exceeding ten crore rupees and net worth exceeding twenty-five
crore rupees, as on the immediate financial year i.e. 31^st March, 2024 of the Company.
Hence, the requirements of compliance with the provisions corporate governance as
specified in shall not apply to the Company and hence, not provided by the Board.

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

In accordance with the requirements of the sexual harassment of women at workplace
(prevention, prohibition & redressal) Act, 2013 ("POSH Act") and Rules made thereunder,
the Company has formulated and implemented a policy which mandates no tolerance
against any conduct amounting to sexual harassment of women at workplace.

During the financial year ended 31^st March, 2024, the Company has not received any
complaint under the policy. The Company has systems and processes to ensure
professional ethics and harmonious working environment. The policy aims the protection

of the women employees at work place and providing the safe working environment
where women feel secure. Awareness programs are conducted to create sensitivity
towards ensuring respectable workplace.

44) THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE
INSOLVENCY AND BANKRUPTCY CODE, 2016:

During the financial year ended on 31^st March, 2024, there is no application made or any
proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016)
against the Company.

45) 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:

Not applicable during the year under review.

46) CAUTIONARY STATEMENT:

The annual report including those which relate to the directors' report, management
discussion and analysis report may contain certain statements on the Company's intent
expectations or forecasts that appear to be forward-looking within the meaning of
applicable securities laws and regulations while actual outcomes may differ materially
from what is expressed herein.

47) ACKNOWLEDGEMENTS:

The Board of Directors acknowledges and places on record their sincere appreciation of
all the stakeholders and authorities for their continued co-operation and for the excellent
support received from them.

For and on behalf of the Board of Directors of
For, Ambitious Plastomac Company Limited

Pinkal R. Patel

Place: Ahmedabad Chairman & Managing Director

Date: 30^th May, 2024 DIN: 06512030