Your Directors are pleased to present the 87th Annual Report of the Company and the audited
Financial Statements for the financial year ended 31st March, 2026. The PDF version of the Report
is also available on the Company's website at www.albertdavidindia.com/annualreport.php.

The Company has prepared the Financial Statements in accordance with the Companies (Indian
Accounting Standards) Rules, 2015 prescribed under Section 133 of the Companies Act, 2013 (the
"Act").

Performance During The Year & State of The Company's Affairs:

We registered annual Revenue from Operations of Rs. 33,360 lakhs in F.Y. 2026 compared to Rs.
34,577 lakhs in F.Y. 2025. Profit Before Tax for F.Y. 2026 stood at Rs. 52 lakhs compared to Rs. 2,523
lakhs from F.Y. 2025. In F.Y. 2026, ADL invested in strengthening the field force of the company
for future growth. The realignment in manpower and other expenses have given returns in later
part of the year. We shall continue to assess and rework our strategies as per the requirement
of the Company, ensuring that we continue to remain a highly profitable, compliant and socially
responsible Company.

Some of the highlights of the operations for the year are:

• Revenue from operations for the year was Rs.33,360 lakhs in F.Y. 2026 compared to Rs.34,577
lakhs in F.Y. 2025.

• Profit Before Tax for F.Y. 2026 stood at Rs.52 lakhs compared to Rs.2,523 lakhs from F.Y. 2025.

♦ Tax Provision for the current year amounted to Rs. 201.96 Lakhs for F.Y. 2026 as against a tax
provision of Rs. 803 Lakhs for F.Y. 2025.

♦ Loss after Tax stood - Rs.149.47 Lakhs for F.Y. 2026 as against a Profit after Tax of Rs.1,720.08
lakhs for F.Y. 2025.

♦ Earnings Per Equity Share of par value of Rs. 10/- each works out to Rs.-2.62 for F.Y. 2026 as
against Rs.30.14/- for F.Y. 2025.

Your Directors are also striving to achieve further growth in sales and better financial performance
in the forthcoming years.

Dividend:

Your Directors are pleased to recommend a dividend of Rs. 5.00 per equity share of Rs, 10/- each,
i.e. 50% for the F.Y.ended March 31, 2026, subject to approval of members at the 87th Annual
General Meeting. The Dividend, if approved by the members at the ensuing Annual General Meeting,
will be paid to all those equity shareholders of the Company whose names appear in the Register
of Members and/or Register of Beneficial Owners as on the record date and will result into a cash
outflow of Rs. 285.39 Lakhs.

Reserves:

During the year under review, no amount was transferred to any of the reserves by the Company.

Material Changes Affecting The Company:

There have been no material changes and commitments in the business operations of the Company
affecting the financial position, which has occurred between the end of the financial year of the
Company to which the financial statements relate and the date of this report.

Details in Respect of Adequacy of Internal Financial Controls with Reference to
The Financial Statements:

♦ The Company has a system of Internal Audit to take care of the Internal Control systems,
effectiveness of its functioning and the workflow of the organization in terms of the approved
policies of the Company. The Internal Auditors present their Internal Audit Report regularly along
with management's comments and action taken reports thereon before the Audit Committee
of the Company;

♦ Your Board has adopted various policies, related to Related Party Transactions, Whistle Blower
Mechanism and other procedures for ensuring the orderly and efficient conduct of business.
The Company's system of Internal Control has been designed to provide a reasonable assurance
with regard to the maintenance of proper accounting controls, monitoring of operations,
safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and
completeness of the accounting records and timely preparation of reliable financial information.

♦ The Company has ERP suite for a reliable, high-end, comprehensive, disciplined and integrated
business solution.

♦ The Company is complying with all the applicable Indian Accounting Standards (Ind AS).
The accounting records are maintained in accordance with generally accepted accounting
principles in India. This ensures that the financial statements reflect the true and fair financial
position of the Company.

Deposits:

During the year under review, your Company has neither accepted/renewed any deposits nor
has any outstanding Deposits in terms of Section 73 - 76 of the Companies Act, 2013 read with
Companies (Acceptance of Deposits) Rules, 2014.

Auditors & Their Reports:Statutory Auditors:

M/s. L. B. Jha & Co., Chartered Accountants (ICAI Firm Registration No. 301088E), Kolkata, were
appointed as the Statutory Auditor of the Company at the 83rd Annual General Meeting held on
August 9, 2022 to hold office from the conclusion of the said meeting till the conclusion of the 88th
Annual General Meeting to be held in the year 2027.

They have confirmed that they are not disqualified from continuing as Statutory Auditors of the
Company. The Report given by the Statutory Auditors on the Company's financial statements is
enclosed with this Report.

The Statutory Auditors had not reported any fraud under Section 143(12) of the Companies Act,
2013, therefore no detail in the said regard is required to be disclosed under Section 134(3)(ca) of
the Companies Act, 2013.

The Notes on financial statements referred to in the Auditors' Report are self-explanatory and
does not call for any further comment. The Auditors' Report does not contain any qualification,
reservation, adverse remark or disclaimer.

Secretarial Auditor:

M/s. MKB & Associates, Company Secretaries in practice, Kolkata, FRN: P2010WB042700 Kolkata,
were appointed as the Secretarial Auditor of the Company at the 86^th Annual General Meeting held
on August 2, 2025 to hold office from the conclusion of the said meeting till the conclusion of the
91^st Annual General Meeting to be held in the year 2030.

The Secretarial Audit Report for F.Y. 2025-26 does not contain any qualification, reservation or
adverse remark. The Company is in compliance with the Secretarial Standards, specified by the
Institute of Company Secretaries of India. Such report in the prescribed form MR-3 is attached as
"Annexure-1".

Cost Auditor:

In accordance with the provisions of Section 148 of the Companies Act, 2013 and the Companies
(Cost Records and Audit) Rules, 2014, the Company is required to appoint a Cost Auditor to audit
the cost records relating to the business of manufacturing of Bulk Drugs and Formulations of the
Company. Accordingly, the Board on the recommendation of the Audit Committee had approved
the re-appointment of M/s. S. Gupta & Co., Kolkata, Cost & Management Accountants (Firm
Registration No. 000020) as Cost Auditors for auditing the cost records of the Company for the
financial year ended March 31,2027.

Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with Rule 14 of the
Companies (Audit and Auditor) Rules, 2014 framed thereunder, the remuneration payable to M/s.
S. Gupta & Co. as Cost Auditors for the financial year 2026-27 is required to be ratified by the
Members of the Company and accordingly, a resolution for the same is being placed before the
Members at the 87th Annual General Meeting of the Company for their approval.

Cost records required to be maintained by the company pursuant to the order of the central
government are maintained by the Company.

Reporting of Fraud By Auditors:

During the year under review, the Statutory Auditor, Internal Auditor, Cost Auditor and the 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, details of which needs to be
mentioned in this Report.

Share Capital:

The equity shares of your Company continue to be listed and traded on the BSE Limited and National
Stock Exchange of India Limited. During the year under review, the Company has not issued shares
with differential voting rights or granted any stock options or issued any sweat equity or issued any
Bonus Shares. Further, the Company has not bought back any of its securities during the period
under review.

Annual Return:

The annual return of the company as on March 31,2026, in terms of the provisions of Section 134(3)
(a) of the Act, has been made available on the company's website https://www.albertdavidindia.
com/annualreturn.php

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings
And Outgo:

The details with respect to conservation of energy, technology absorption, foreign exchange
earnings and outgo pursuant to Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3)
of the Companies (Accounts) Rules, 2014 framed thereunder, is attached as "Annexure- 2" to this
Report.

Corporate Social Responsibility (CSR) Activity:

In compliance with the requirements of Section 135 of the Act, the Company has laid down a CSR
Policy. The composition of the Committee, contents of CSR Policy and report on CSR activities
carried out during the financial year ended 31st March, 2026 in the format prescribed under the
Companies (Corporate Social Responsibility Policy) Rules, 2014 is annexed herewith as "Annexure 3".
The CSR policy is available on the Company's website: https://www.albertdavidindia.com/ policies.
php

Mr. Rajiv Anant Desai (DIN: 11193975) has been appointed as member of CSR Committee w.e.f
12^th November, 2025.

Directors And Key Managerial Personnel:

The constitution of the Board of the Company is in accordance with Section 149 of the Company
Act, 2013 and Regulation 17 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended.

Directors

As on March 31,2026, The Board of Directors of your Company comprised of 1 Promoter Executive
Director, 2 Promoter Non-Executive Directors and 5 Non-Executive Independent Directors including
1 Independent Woman Director. Brief profiles of all Directors of company are available on your
company's website at https://www.albertdavidindia.com/bod.php

During the F.Y. 2025-26, following changes were effected in Board of Directors of the company:-

Dr. Rajiv Anant Desai (DIN: 11193975) has been appointed as a Non-Executive Independent Director
of the Company for a period of 5 (five) years effective from 2nd August, 2025 to 1st August, 2030
not liable to retire by rotation.

Dr. Monjori Mitra (DIN: 02761691) has been re-appointed as a Non-Executive Independent Women
Director of the Company for a second term of 5 (five) consecutive years effective from 24th August,
2025 to 23rd August, 2030 not liable to retire by rotation.

Mr. Umesh Manohar Kunte (DIN: 03398438), Managing Director & CEO of the Company, resigned
from the board of the Company effective from 18th December, 2025 due to his personal reasons
and priorities.

Mr. Amit Mahla has been appointed as CEO of the company w.e.f 12^th May,2026.

On the basis of the written representation received from the Directors, none of the Directors of
the Company are disqualified / debarred to act as Director under the provisions of Section 164(2)
of the Companies Act, 2013, Rule 14(1) of the Companies (Appointment and Qualifications of
Directors) Rules, 2014 and by virtue of any Order of the Ministry of Corporate Affairs, the SEBI or
any other Authority.

Declaration by Independent Directors

In terms of Section 149, 152 read with Schedule IV and other applicable provisions of the Companies
Act, 2013 and the Companies (Appointment and Qualifications of Directors) Rules, 2014 (including
any statutory modifications or reenactment thereof for the time being in force), the Independent
Directors are appointed for a term of five years and are not liable to retire by rotation.

As required under Section 149(7) of the Act, all the Independent Directors of the Company have
given declarations that they meet the criteria of independence as laid down in section 149(6) of the
Act and Regulation 16(1)(b) and Regulation 25 of Listing Regulations. There has been no change in
the circumstances affecting their status as Independent Directors of the Company.

The Independent Directors have confirmed that they have complied with the Company's Code of
Conduct. They have registered their names in the Independent Directors' Databank.

In the opinion of the Board, they fulfil the conditions of independence as specified in the Act and
the SEBI Listing Regulations and are independent of the management. Further, the Board is also of
the opinion that all the Independent Directors of the Company are persons of integrity and possess
relevant expertise and experience to act as Independent Directors of the Company

Familiarisation Program undertaken for Independent Director

The Independent Directors are familiarized with the Company, enlightening them of their role,
responsibilities and rights, nature of the industry in which the Company operates, business
model of the Company etc. as required under Regulation 25(7) of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015. On appointment, the Independent Director is
issued a formal Letter of Appointment setting out in detail, the terms of appointment, duties,
responsibilities and expected time commitments. Each newly appointed Independent Director
undergoes a formal induction program covering the Company's operations, marketing, finance
and other important aspects. The Company Secretary briefs the Independent Director about their
legal and regulatory responsibilities as such Director. They are also explained in detail, the various
compliances required from them under the various provisions of the Companies Act, 2013, the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the SEBI(Prohibition
of Insider Trading) Regulations, 2015, the Code(s) of Conduct framed by the Company and other
relevant/ applicable regulations. The details of familiarization program imparted to Independent
Directors of the Company are available on the Company's website at https://www.albertdavidindia.
com/policies.php

Key Managerial Personnel

Mr. Arun Kumar Kothari, Executive Chairman, Mr. Amit Mahla , Chief Executive Officer (CEO)
(appointed w.e.f 12^th May, 2026), Mr. Ranadeep Bhattacharya, Chief Financial Officer and Mr. Lalit
Lohia, Company Secretary & Compliance Officer of the Company are the whole-time Key Managerial
Personnel of the Company in terms of section 2(51) and Section 203 of the Companies Act, 2013,
as on the date of this report.

Changes in Key Managerial Personnel during the year

During the year under review,Mr. Umesh Manohar Kunte, Managing Director & CEO had resigned
w.e.f. 18^th December, 2025 due to his personal reasons and priorities.

Further, the board has appointed Mr. Amit Mahla as a Chief Executive Officer (CEO) of the Company
w.e.f 12^th May, 2026.

Annual Evaluation of The Board, Its Committees and Individual Directors:

The Company has devised a Policy for performance evaluation of Independent Directors, Board
Committees, the Chairman and other individual Directors which includes criteria for performance
evaluation of the Non- Executive Directors and Executive Directors. On the basis of Policy approved
by the Board for performance evaluation of Independent Directors, Board Committees and other
individual Directors, a process of evaluation was followed by the Board for its own performance and
that of its Committees and individual Directors through a structured questionnaire which provides
valuable feedback for contribution to the Board, improving Board effectiveness, maximising
strengths and highlighting areas for further improvement etc.

In a separate meeting of the Independent Directors, performance of the Chairperson, Non¬
Independent Directors, the Committees and the Board as a whole was evaluated taking into
account the views of the Non- Independent Directors and the same was discussed in the NRC and
Board Meeting.

Performance evaluation of Independent Directors is done by the entire Board of Directors (excluding
the Directors being evaluated).

The Directors expressed their satisfaction over the evaluation process and the results thereof.

Number of Meetings of The Board Of Directors:

During the year, 5 (five) meetings of Board of Directors were held on 13th May, 2025, 2nd August
2025, 12th November, 2025, 18th December, 2025 and 11th February, 2026. The details of the
Board Meetings with regard to their dates and attendance of each of the Directors thereat have
been provided in the Corporate Governance Report.

Meeting of Independent Directors:

During the year under review, a separate meeting of the Independent Directors of the Company was
held on 11th February, 2026, wherein the performance of the Non- Independent Directors and the
Board as a whole was evaluated. The Independent Directors at their meeting also assessed the
quality, quantity and timeliness of flow of information between the Company's management and
the Board of Directors.

Committees of The Board:

The Company has constituted various Board level committees in accordance with the
requirequirements of Companies Act 2013 and the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, viz.:

> Audit Committee

> Nomination and Remuneration Committee

> Stakeholders' Relationship/Grievance Committee

> Corporate Social Responsibility Committee

Details of all the above Committees along with their composition, terms of reference and meetings
held during the year under review etc. are provided in the Report on Corporate Governance forming
part of Annual Report and the same is also available on our company's website at https://www.
albertdavidindia.com/cod.php

Policy on Directors' Appointment And Remuneration:

The Company has a Nomination and Remuneration Policy pursuant to Section 178 of the Companies
Act, 2013 envisaging therein, inter-alia, the Company' policy on appointment and remuneration
of Directors, Key Managerial Personnel and Senior Management Personnel. The said Policy is
attached as "Annexure-4" to this Report and may also be accessed at the Company's website at
https://.albertdavidindia.com/policies.php

Whistle Blower Policy/Vigil Mechanism:

The Company has established an effective Whistle Blower Policy pursuant to the Companies Act,
2013. The said policy may be referred to at the Company's website at https://www.albertdavidindia.
com/policies.php.

The Whistle Blower Policy aims at ensuring conduct of the affairs of the Company in a fair and
transparent manner by adopting the highest standards of professionalism, honesty, integrity and
ethical behavior.

A mechanism has been established for employees to report unethical behavior, actual or suspected
fraud or violation of the Code of Conduct and ethics directly to the forum. It also provides for
adequate safeguards against victimization of employees who avail the mechanism and allows
direct access to the Chairman of the Audit Committee in exceptional cases.

Disclosure Under The Sexual Harassment of Women At Work Place
(Prevention, Prohibition And Redressal) Act, 2013:

The Company is committed to providing a safe and conducive work environment to all its employees
and associates. The Company has policy on Prevention of Sexual Harassment at Workplace in
place. All employees, consultants, trainees, MRs, volunteers, third parties and/ or visitors at all
business units or functions of the Company, are covered by the said policy. Adequate workshops
and awareness programmes against sexual harassment are conducted across the organisation.

The Company has constituted an Internal Complaints Committee in compliance with the provisions
of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,
2013 and is fully compliant of the Committee composition requirements. No complaint of sexual
harassment was received during the financial year 2025- 26. No complaints were pending as at the
end of the financial year 2025-26.

Particulars of Loans, Guarantees And Investments:

Details of loans given, investments made or guarantees given or security provided, if any, as per the
provisions of Section 186 of the Act and Regulation 34(3) read with Schedule V of the SEBI Listing
Regulations are given in the note No. 58 forming part of the financial statements provided in this
Annual Report.

Particulars of Contracts of Arrangements With Related Parties:

There are no materially significant related party transactions made by the Company with related
parties which may have potential conflict of interest with the Company at large. As a matter
of policy, your Company carries out transactions with related parties on an arms' length basis.
Statement of these transactions is given at Notes to financial statements.

Accordingly, particulars of contracts or arrangements with related parties referred to in Section
188(1) along with the justification for entering into such contract or arrangement in Form AOC-2
does not form part of this report. The Policy on Materiality of Related Party Transactions and on
dealing with Related Party Transactions as approved by the Board is available on the Company's
website and can be accessed at https://www.albertdavidindia.com/policies.php, The Audit
Committee reviews all related party transactions on quarterly basis.

Particulars of Employees And Related Disclosures:

Disclosures pertaining to remuneration and other details as required under Section 197(12) of
the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, is annexed herewith as "Annexure-5".

In accordance with the provisions of Rule 5(2) of the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014, the names and particulars of the top ten employees in terms
of remuneration drawn and of the aforementioned employees form part of the Directors'/ Board's

Report as an annexure. However, in terms of the provisions of Section 136(1) of the Companies Act,
2013 read with the rule, the Directors'/ Board's Report is being sent to all shareholders/ members of
the Company excluding the same. The said information is available for inspection at the registered
office of the Company during the working hours. Any shareholder/ member interested in obtaining
a copy of the annexure may write to the Company Secretary & Compliance Officer either at the
registered office address or by email to adlcorp. secretary@adlindia.in.

Corporate Governance And Management Discussion & Analysis:

Corporate Governance Report and Management Discussion and Analysis along with the Independent
Auditor's Compliance Certificate and Certificate on non-disqualification of directors in compliance
with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of this
Directors Report and also forms part of the Annual Report for F.Y. 2025-26.

Risks & Mitigating Steps:

The Company has adopted and implemented a Risk Management Policy after identify ing various
risk factors which the Company encounters in the course of its business. Appropriate structures
are present so that risks are inherently monitored and controlled inter-alia through strict risk
mitigating measures. In the opinion of the Board, none of the risks faced by the Company threaten
the existence of the Company. Financial risks, the Company is exposed to, are described in the
appropriate notes to the financial statements.

The Company has adequate internal control system and procedures for minimization of risks.
The risk management procedure is reviewed by the Audit Committee and Board of Directors on a
quarterly basis at the time of review of quarterly financial results of the Company.

Directors' Responsibility Statement:

Pursuant to clause (c) of sub-section (3) and sub-section (5) of Section 134, of the Companies Act,
2013, the Board of Directors of the Company hereby state and confirm that:

i) in the preparation of the annual accounts for the year ended March 31, 2026, the applicable
accounting standards had been followed along with proper explanation relating to material
departures, if any;

ii) the Directors had selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true and fair view of
the state of affairs of the Company at the end of the financial year ended on March 31, 2026
and of the Loss of the Company for that period ;

iii) the Directors had taken proper and sufficient care for the maintenance of adequate accounting
records for the year ended March 31, 2026 in accordance with the provisions of this Act for
safeguarding the assets of the Company and for preventing and detecting fraud and other
irregularities;

iv) the Directors had prepared the annual accounts on a 'going concern basis';

v) 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

vi) 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.

Transfer to Investor Education and Protection Fund (IEPF):

Pursuant to the provisions of the Act, read with IEPF Authority (Accounting, Audit, Transfer and
Refund) Rules, 2016, as amended, declared dividends which remained unpaid or unclaimed for a
period of seven years have been transferred by the Company to the IEPF established by the Central
Government.

The above Rules also mandate transfer of underlying shares on which dividends are lying unpaid
and unclaimed for a period of seven consecutive years to IEPF through corporate action.

Your Company has sent individual notices and also advertised in the newspapers seeking action
from the Members who have not claimed their dividends for seven consecutive years. Thereafter,
the Company shall transfer such unpaid or unclaimed dividends and corresponding equity shares
of the Company for the financial year ended March 31, 2019, to the IEPF Authority.

Members/claimants whose shares or unclaimed dividends have been transferred to the IEPF
Authority's Demat Account or the Fund, as the case may be, may claim such shares or apply for
refund of such dividends, by making an application to the IEPF Authority in Form IEPF-5 available
at http://www.iepf.gov.in along with requisite fee, if any, as may be decided by the IEPF Authority
from time to time. The Member/claimant can file only one consolidated claim in a financial year
as per the IEPF Rules. Members, therefore, are requested to immediately claim their dividends
(and shares referred above), before they are transferred by the Company to the IEPF Authority.
Details of shares/shareholders in respect of which dividend has not been claimed are available
on the Company's website at http://albertdavidindia.com/undividend.php . Members are hereby
advised to verify their records and claim their dividends in respect of all the earlier seven years, if
not already claimed.

Compliance with Secretarial Standards on Board and General Meetings:

During the year under review, the Company has endeavoured to comply with the applicable
Secretarial Standards to the extent applicable.

Disclosure requirements for certain types of agreements binding listed
entities under Regulation 30A(2) of Listing Regulations:

There are no agreements entered into by the shareholders, promoters, promoter group entities,
related parties, directors, key managerial personnel, employees of the listed entity or of its holding,
subsidiary or associate company, among themselves or with the listed entity or with a third party,
solely or jointly, which, either directly or indirectly or potentially or whose purpose and effect is
to, impact the management or control of the listed entity or impose any restriction or create any
liability upon the listed entity as on the date of notification of clause 5A to Para A of Part A of
Schedule III of Listing Regulations.

Credit Ratings:

The Company's financial discipline and prudence is reflected in the strong credit ratings ascribed
by rating agencies. The details of the Credit Rating are mentioned in the Corporate Governance
Report.

General 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:

1. Issue of Equity Shares with differential rights as to dividend, voting or otherwise;

2. Issue of Equity Shares (including Sweat Equity Shares) to employees of your Company, under
any scheme;

3. Your Company has not resorted to any buy back of its Equity Shares during the year under
review;

4. Your Company does not have any subsidiary/ joint ventures/ associate companies;

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

6. During the year, there has been no change in the nature of the business of the Company;

7. No proceedings are pending against the Company under the Insolvency and Bankruptcy Code,
2016;

8. There has been no instance where the board has not accepted any of the recommendations of
the Audit Committee;

9. No One time settlements with Banks or Financial Institutions were entered during the year.

Industrial Relationship

Emphasis has been laid on cultivation of healthy human relationship in and outside the Company
with prevalence of excellent industrial relationship in all units of the Company, Manufacturing units,
Sales Offices, Depots and Corporate Office.

Acknowledgment:

The Board sincerely places on record the support given by Medical Profession, Trade, Shareholders,
Company's Bankers and Stockists, Central and State Government Authorities, Stock Exchanges,
CDSL, NSDL and all other Business Associates for the growth of the organization. The Board
further expresses its appreciation for the services rendered by the Executives, Officers, Staffs and
Workers of the Company at all levels.

Registered Office : For and on behalf of the Board of Directors

'D' Block, 3rd Floor, Gillander House,

8, Netaji Subhas Road, Kolkata - 700 001. Sd/-

CIN: L51109WB1938PLC009490 A. K. Kothari

Executive Chairman

^{Date: 12th May}, ²⁰²⁶ (Din: 00051900)

Place: Kolkata ^v '