We are pleased to present the 43rd Annual Report of the Company as follows:

UPDATE ON CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP):

Pursuant to order dated March 10, 2022 of the Hon'ble National Company Law Tribunal - Mumbai Bench ("NCLT Order"), Corporate Insolvency Resolution Process ("CIRP") was initiated against the Company in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016, ("Code") and related rules and regulations issued thereunder with effect from March 10, 2022 (Corporate Insolvency Resolution Process Commencement Date).

The Resolution Plan for the Company submitted by East India Drums & Barrels Mfg. Pvt. Ltd. (Formerly known as Precision Containeurs Ltd.(Group Company) has been approved by the Hon'ble NCLT, Mumbai Bench, vide Order dated 02-05-2023. Brief details of the Resolution Plan and its implementation status as on date is given in the Notice of the AGM and hence, the same are not repeated.

Status of implementation of Resolution Plan Background:

Pursuant to order dated March 10, 2022 of the Hon'ble National Company Law Tribunal - Mumbai Bench ("NCLT Order"), Corporate Insolvency Resolution Process ("CIRP") was initiated against the Company in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016, ("Code") and related rules and regulations issued thereunder w.e.f March 10, 2022 (Corporate Insolvency Resolution Process Commencement date). Pursuant to Section 17 of the Code, the powers of Board of Directors of the Company stands suspended effective from the CIRP commencement date and such powers along with the management of affairs of the company were vested with the Monitoring Agent Chetan T. Shah (IP registration no. : IBBI Reg. no. IBBI/IPA-001/IP-P00026/2016-2017/10059), erstwhile Resolution Professional

As per the terms of the Resolution Plan for the Company approved by the Hon'ble NCLT, Mumbai Bench vide order 02^nd May 2023, following major actions are completed:

a. Reduction and consolidation of share capital of the Company on March 31, 2024 (one day prior to the Effective Date.):

The equity shares capital of the Company held by the shareholders as on February 28, 2024, being record date for the purpose of reduction and consolidation of capital, has been reduced, consolidated, cancelled, and extinguished on March 31, 2024 as per the terms of the Resolution Plan.

Pre and post capital reduction shareholding on March 31, 2024 is given below:

b. Merger of the Resolution Applicant East India Drums and Barrels Manufacturing Private Limited

East India Drums and Barrels Manufacturing Private Limited (CIN: U28999MH2021PTC359769) ("ARA") has been amalgamated/merged with and into the Company with effect from April 01, 2024 and pursuant to the said amalgamation, following are the changes in Precision Containeurs Limited w.e.f. April 01, 2024:

I. the Company has issued and allotted the shares as per the details mentioned below to the shareholders of East India on 01^st April 2024:

II. Pursuant to the said amalgamation, the authorized share capital of the Precision has been increased to Rs. 48,00,00,000/- divided into 4,80,00,000 Equity Shares of Rs. 10/-each.

III. Change of name of the Company from 'Precision Containeurs Limited' to 'East India Drums and Barrels Manufacturing Ltd' is approved by the MCA vide order dated 26^th April 2024.

IV. Vide its letter dated 30^th May 2024, Bombay Stock Exchange (BSE) has granted inprinciple approval for the listing of shares arising out of the above capital reduction and merger. Necessary Corporate Actions to give effect to the scheme of capital reduction and merger is pending before the depositories.

c. Payment under the Resolution Plan: The Company has successfully discharged payment obligation as per the terms of the Resolution Plan.

FINANCIAL RESULTS:

DIVIDEND

Company has not recommended dividend.

INDIAN ACCOUNTING STANDARDS

As per the requirements of the Notification dated 16.02.2015 issued by the Ministry of Corporate Affairs (MCA) Standalone and the Financial Statement of the Company for the Financial Year 2023-2024 have been approved as per Ind AS.

AMOUNT TRANSFERRED TO RESERVES

The Board does not propose to transfer any amount to its reserves.

NATURE OF INDUSTRY

The Company is directly engaged in the business of manufacturing of Drums and Barrels. STATEMENT ON COMPANY'S AFFAIRS

In view of tough competition from local and international market, the company is making all efforts to increase the activities.

During the year ended 31st March, 2024, your company has made Profit after tax of Rs. 1451.47 lacs as against Loss of Rs.21.00 lacs in the previous year.

NATURE OF INDUSTRY

The Company is in the industry of manufacturing of Drums and Barrels.

CHANGE OF NAME OF THE COMPANY

As per the NCLT Order dated May 2, 2023, our Company is merging by way of Reversal Merger and our entire Assets and Liabilities has been merged with Precision Containeurs Ltd. (listed Company) and in this connection our Company has received new Certificate of Incorporation from MCA dated 26^th April 2024 changing the name of the company to East India Drums & Barrels Manufacturing Limited with PAN No. AAACV4766F, and GST Registration Nos.

SHIFTING OF REGISTERED OFFICE

At the Board of Directors' Meeting held on May 29, 2024, it has been decided that the Registered Office of the Company to be shifted from the present address i.e. B-1, Madhav Niwas CHSL Opp. S. V. Road, Natakwala Lane, Borivali (W), Mumbai - 400092 to 201, A Wing, Jwala Estate, Pushp Vinod - 2, Soni Wadi, S. V. Road, Behind MC. Donald, Borivali (W), Mumbai - 400092.

MATERIAL CHANGES SINCE END OF FINANCIAL YEAR TILL DATE OF THIS REPORT

Approval of the Resolution Plan by the Hon'ble NCLT vide order dated 02.05.2023 as dated above.

DEPOSITS

The company has not invited or accepted any Deposits as required under section 73 of the Co's Act from the public during the year under review.

ASSOCIATES COMPANIES - NIL SUBSIDIARY COMPANY

The Company does not have any Subsidiary/Joint Venture/Associate Company as on the year ended 31st March, 2024.

NO FRESH LOAN TAKEN FROM FINANCIAL INSTITUTIONS

The Company has not availed any fresh loan/Working Capital facility during the year 2023-2024 and therefore the company has not carried any Valuation Report on the stock /other assets during the year.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENT

Particulars of the loans given, Investment made or guarantee given or security provided and the purpose for which the loan or guarantee or security is proposed to be utilized by the recipient of the loan or security are provided, if any to the Financial Statement.

PARTICULARS OF CHANGE IN BUSINESSVOLUNTARY REVISION OF FINANCIAL STATEMENTS

We state that there is no Voluntary Revision of Financial Statements during the Financial Year 2023-2024.

WEB ADDRESS

Our Web address is www.eidb.in and all the data including Annual Report and various others matters are displayed on our website.

ANNUAL RETURN

The Annual Return has been uploaded on the Companys' website and can be accessed at www.eidb.in under Investor Relation.

COMMODITY PRICE RISK OR FOREIGN EXCHANGE

There is no commodity price risk or foreign exchange risk to the company as there are no busine: activities in the Company.

STATUTORY AUDITORS

M/s. APMH & Associates LLP, has resigned as a Statutory Auditor and Board has recommended appointment of M/s. Dhiraj & Dheeraj as a Statutory Auditor to conduct audit of the company's accounts, subject to approval of shareholders.

Qualification/adverse remarks, if any, of the Auditor are self-explanatory and do not require any further comments from the side of management.

COST AUDITOR

As per Sec. 148 of the Companies Act, the Company is not required to maintain the cost Audit records, as the same is not applicable to our Company.

SECRETARIAL AUDITORS REPORT

The Secretarial Auditors' Report dated May 18, 2024, issued by M/s. Pranay Mandhana & Associates are attached in ANNEXURES forming part of Directors' Report. As regards the Qualification, the same are self-explanatory.

As regards the other Qualifications, we have to state as under :

The said 7700 Equity Shares (physical) are under the custody of Income Tax Department, Mumbai and matter is followed by the Company. Company Secretary will be appointed by the Resolution Applicant as and when take over is given .

As regards other SEBI/SAT observations, Sr. (ii) the same are self-explanatory as per Secretarial Audit Report dated May 18, 2024.

Further in the matter of SEBI and as per Qualification Report of Secretarial Auditor Report Sr. No.1 dated May 18, 2024, we have to state that :

The same has been clarified under Directors' Report - Non Compliance by the Company Penalties imposed on the Company

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

Information in accordance with Section 134(3)(m) of the Companies Act, 2013 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 2014 is given as below. The disclosure of particulars with respect to Conservation of Energy is not applicable in the case of your Company.

Particulars as required under Companies (Disclosure of Particulars in the Report of Directors) Rules, 1988 and forming part of Directors' Report for the year ended 31st March, 2024.

STOCK EXCHANGE

The Company is listed on the Bombay Stock Exchange and has duly paid Listing Fees for the year 2024-2025.

BOARD OF DIRECTORS AND KMP'S

As on 31.03.2024, our Board of Directors and KMP are as under:

EVALUATION OF BOARD, COMMITTEES & DIRECTORS

Pursuant to the provisions of the Act and the Listing Regulations, the Board had carried out performance, evaluation of its own, the Board Committee and of the Independent Directors and found to be very satisfactory.

REPORTING OF FRAUD

The Auditors of the Company have not reported any instances of Fraud committed against the Company by its officers or employees as specified Under Section 143(12) of the Companies Act, 2013.

FAMILIARIZATION PROGRAMME

The details of program for familiarization of Independent Directors with the Company, their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, business model of the company and related matters are put on the website of the company at www.eidb.in.

RISK MANAGEMENT

Pursuant to Section 134(3)(n) of the Companies, Act, 2013 and relevant Regulation of Listing Regulation 2015, the Company has adopted a Risk Management Policy for the identification and implementation of a Risk Mitigation Plan for the Company. The company has included appropriate procedures to inform the Board about the Risk Assessment and minimization procedures. The Board periodically revisits and reviews the overall Risk Management Plan for making desired changes in response to the dynamics of the business.

VIGIL MECHANISM AND WHISTLE BLOWER POLICY

Details in respect of Vigil Mechanism and Whistle Blower Policy are provided in the Corporate Governance report forming Part of this Report.

SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORY / JUDICIAL AUTHORITY

There are no significant materials orders passed by The Regulatory or Courts or Tribunal, which would impact the going concern status of the company and in its future except approval of the Resolution Plan vide order NCLT order dated 02.05.2023 as stated above.

CORPORATE SOCIAL RESPONSIBILITY

The provisions of Corporate Social Responsibility are not applicable to our Company.

INTERNAL CONTROL SYSTEMS

The Company has got internal control system commensurate to the size and the systems and operations. It is supplemented by extensive internal audit procedures, reviewed by Management and Audit Committee. The internal audit covers all the activities of the company. Company reviews findings of internal audit system on regular basis and they are upgraded based on internal audit recommendations. Your company's statutory Auditors' have confirmed the adequacy of internal control systems.

DIRECTORS' RESPONSIBILITY STATEMENT UNDER SECTION 134 (5)

The Board of Directors of the Company confirm that :

1. The preparation of the Annual Account, the applicable accounting standards have been followed and wherever required, proper explanations relating to material departures have been given.

2. Selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for that period.

3. Proper and sufficient care has been taken 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.

4. The Accounts have been prepared on a going concern basis.

5. The Company had laid down internal financial controls and such internal financial controls are adequate and were operating efficiently.

6. The Company had devised proper system to ensure compliance with the provisions of all applicable laws and such systems were adequate and operating efficiently.

All documents referred to in the accompanying Notice are open for inspection at the Registered Office of the Company during the office hours of the Company on any working days up to August 26, 2024, between 12.00 noon to 4.00 p.m

PARTICULARS OF REMUNERATION OF DIRECTORS/KMP/EMPLOYEES

The details as required under Sec.197 of the Companies Act, 2013, and Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel).

None of the Directors/KMP/Employees are drawing any remuneration during the year under review.

* The Company has not carried any manufacturing activity and hence Company does not have any employees except the above KMP.

DIRECTORS SEEKING APPOINTMENTS & RE-APPOINTMENT

Disclosure pursuant to Regulation 36 of SEBI (LODR) Regulation 2015 of the Directors proposed to be appointed in the AGM are enclosed separately.

CESSATION OF KMP'S

1) Mr. Sunil Vasantrao Patil, Independent Director, resigned wef March 30, 2024.

2) Mr. Shivram Singh, Independent Director, resigned wef March 30, 2024.

COMPANY SECRETARY

Mr. Hariram K. Bijlani resigned wef June 30, 2024.

The Board places on record the valuable services rendered by them during their tenure of services with the Company.

SEXUAL HARASSMENT ON WOMEN (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The policy is in place.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT OVERALL (MD & A)

The Management discussion and Analysis Report gives a detailed account of state of Affairs forms Part of this Annual Report

CORPORATE GOVERNANCE REPORT

A Report on Corporate Governance along with a Certificate from Auditors of the Company regarding the compliance with the conditions of Corporate Governance as stipulated under Part E of Schedule V of SEBI LODR forms Part of this Annual Report.

Since the details regarding composition and meetings of the Board of Directors and its committee are covered under the Corporate Governance Report, the same are not repeated here for the sake of brevity.

COMPLIANCE WITH THE PROVISIONS OF SECRETARIAL STANDARD

The applicable Secretarial Standard i.e. SS-1 and SS-2 relating to the meetings of the Board of Directors' and General Meetings have been duly complied by the company.

INSIDER TRADING REGULATIONS & CODE OF DISCLOSURE

The Board of Directors have adopted the Code of Practice and procedures for fair disclosure of Unpublished Price Sensitive Information and Code of Internal Procedures and conduct for Regulating Monitoring and Reporting of Trading by Insiders in accordance with the requirements of the SEBI (Prohibition of Insider Trading) Regulation 2015.

RELATED PARTY TRANSACTIONS - NILGREEN INITIATIVES

Electronic copies of the Annual Report 2023-2024 and the Notice of the AGM are sent to all the members whose email address are registered with the R&T Agents i.e. Link Intime (I) Pvt. Ltd.

ACKNOWLEDGEMENTS

Your Directors place on record their sincere thanks to the State and Central Government for their co-operation and dedicated and devoted services rendered by the employees of the Group of Company at all levels. Your Directors also thank the Bankers, customers, Stakeholders and the suppliers of services to your Company for their co-operation and valuable support.