Your Directors are pleased to present the thirtieth Annual Report on the business and operations of the Company
together with the Audited Financial Statements for the financial year ended March 31, 2025 ("year under
review").

1. SUMMARISED FINANCIAL RESULTS

A summary of your Company's Standalone financial results for the Financial Year 2024-25 is as under:

(Rs. in Lakhs)

Particulars March 31. 2025 March 31, 2024

2. FINANCIAL PERFORMANCE OF THE COMPANY
Standalone Financial Performance:

The Gross Revenue from operations for FY 2024-25 was Rs. 52425.65 lakhs (Previous Year: Rs. 42822.40
lakhs). The year-over-year increase in total income was 22.43%. The operating profit was Rs. 935.92
lakhs, compared to Rs. 823.97 lakhs in the previous year. The net profit for the year soared to an
impressive Rs. 683.69 lakhs, marking a substantial increase from the profit of Rs. 108.58 lakhs reported
in the previous year.

3. DIVIDEND

Your Director feel that it is prudent to plough back the profits of the Company for future growth of the
Company and therefore do not recommend any dividend for the year ended March 31, 2025.

4. TRANSFER TO GENERAL RESERVES

During the year under review, the Company has not transferred any amount to reserve.

5. CORPORATE ACTIONS & SHARE CAPITAL

At the Annual General Meeting of the company held on September 30, 2024, the Company has increased
authorised share capital from Rs. 61.00 Crore (Rupees Sixty one Crore Only) divided into 30.50 Crore
((Thirty Crore Fifty Lakhs) Equity Shares of Rs. 2/- (Rupees Two) each to Rs. 91.00 Crore (Rupees Sixty
One Crores Only) divided into 45.50 Crore (Forty Five Crore Fifty Lakhs) Equity Shares of Rs. 2/- (Rupees
Two) each.

The Company has raised Rs. 4504.19 lakhs through Rights Issue and allotted 15,01,39,596 Equity Shares
on February 13, 2025.

The paid-up Equity Share Capital as at March 31, 2025 stood at Rs. 9008.38 lakhs.

6. SUBSIDIARY, JOINT VENTURES AND ASSOCIATE COMPANIES

During the year under review, Globe Textiles (India) Limited made a significant strategic move by
acquiring a 70% equity stake in Globe Denwash Private Limited on April 24, 2024. This acquisition aligns
with our commitment to sustainability and innovation in the textile industry. Globe Denwash is
renowned for its expertise in denim washing and finishing, utilizing advanced sustainable processing
techniques that significantly reduce energy consumption and incorporate a Zero Liquid Discharge system
to maximize water recycling.

Subsequently, in March 2025, Globe Textiles acquired the remaining 30% stake, making Globe Denwash
a wholly-owned subsidiary. The integration of Globe Denwash's state-of-the-art facilities, including
highly automated industrial washing tumblers, dryers, and cutting-edge technology for processing and
sample development has bolstered our garment processing capacity.

As per section 129 of Companies Act, 2013 consolidated financial statements of the company and all its
subsidiaries have been prepared and same form a part of this Annual Report. In terms of Rule 5
Companies (Accounts) Rule, 2014, a statement containing salient features of the financial statement of
subsidiaries/associate companies/joint ventures in the form AOC - 1 is annexed to this report as
"Annexure A"

7. EXPORTS

The total exports of the Company amounted to Rs. 3360.82 Lakhs (Previous year Rs. 5112.10 Lakhs)
representing about 6.41% of the total income.

8. MATERIAL CHANGES AND COMMITMENTS

No material changes and commitments affecting the financial position of your Company have occurred
between the end of the financial year of the Company to which the financial statements relates and on
the date of this report.

9. EXPANSION OF THE BUSINESS

During the year, Globe Textiles (India) Limited successfully raised ^4,504.19 lakhs through a Rights Issue
of equity shares. These funds were strategically utilized to acquire a 30% equity stake in Globe Denwash
Private Limited, thereby making it a wholly owned subsidiary of the Company. The acquisition was
completed in March 2025.

Globe Denwash is a specialized entity with expertise in denim washing and finishing. The facility is
certified as a Zero Liquid Discharge (ZLD) unit by ATIRA (Ahmedabad Textiles Industry Research
Association) and holds the ZDHC (Zero Discharge of Hazardous Chemicals) certification. These
accreditations underscore its adherence to international environmental and chemical safety standards,
reinforcing the Group's long-term vision of integrating sustainable practices in its operations.

10. CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION AND ANALYSIS

Separate reports on Corporate Governance compliance and Management Discussion and Analysis as
stipulated by the SEBI Listing Regulations forms part of this Annual Report as Annexure-"B" and
Annexure-"C" respectively along with the required Certificate from Practising Company Secretary
regarding Compliance of the conditions of Corporate Governance as stipulated.

In Compliance with Corporate Governance requirements as per the SEBI Listing Regulations, your
Company has formulated and implemented a Code of Business Conduct and Ethics for all Board
Members and Senior Management Personnel of the company, who have affirmed the compliance
thereto.

11. DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. As of March 31, 2025, your Company's Board had six members, consisting of Two Executive
Director, One Non-Executive and Non-Independent and Three Independent Directors. The Board has
One Woman Directors. The details of Board and Committee composition, tenure of directors, and
other details are available in the Corporate Governance Report, which forms part of this Integrated
Annual Report.

The Company has received necessary declaration from Independent Directors of the Company that
they meet with the criteria of their Independence as laid down in Section 149(6) of the Companies
Act, 2013 ("the Act") and Regulation 25(8) of the Listing Regulations.

Re-appointment of Director(s) retiring by rotation:

In accordance with the provisions of Section 152 of the Act, read with rules made thereunder, Mr.
Bhavik Parikh (DIN: 00038223) are liable to retire by rotation at the ensuing Annual General Meeting
and being eligible, offers themselves for reappointment. The Board recommends the re¬
appointment of Mr. Bhavik Parikh as Director for your approval. Mr. Bhavik Parikh is not disqualified
under Section 164(2) of the Act and not debarred from holding the office of Director pursuant to
order of SEBI or any other authority. Brief details of Directors proposed to be appointed/re-
appointed as required under Regulation 36 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 are provided in the Notice of 30^th Annual General meeting

As per the provisions of Companies Act, 2013, Mr. Bhavik Suryakant Parikh (DIN: 00038223),
Managing Director, Mr. Nilaybhai Jagdishbhai Vora (DIN: 02158990), Whole-time Director, Mr.
Bhavin Suryakant Parikh CEO & CFO and Ms. Monali Maheshwari, Company Secretary and
Compliance Officer are the Key Managerial Personnel of the Company. During the year under
review, there is no change in the Key Managerial Personnel of the Company except Mr. Fraruk
Diwan, Company Secretary has been resigned w.e.f. October 26, 2024. Following his resignation Ms.
Monali Maheshwari appointed as Company Secretary and Compliance officer w.e.f. November 22,
2024.

12. PERFORMANCE EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and SEBI LODR Regulations, the Board has
carried out an annual performance evaluation of its own performance; that of the Directors
individually; as well as the evaluation of the working of its Audit, Nomination & Remuneration and
other Committees of the Board.

At the meeting of the Board, all the relevant factors that are material for evaluating the
performance of individual Directors, the Board and its various Committees, were discussed. A
structured questionnaire, each in line with the circular issued by SEBI, for evaluation of the Board,
its various Committees and individual Directors, was prepared and recommended to the Board by
the Nomination & Remuneration Committee, for conducting the required evaluation, after taking
into consideration the inputs received from the Directors, covering various aspects of the Board's
functioning, such as adequacy of the composition of the Board and its Committees, execution and

performance of specific duties, obligations and governance, etc. A separate exercise was carried out
to evaluate the performance of individual Directors, including the Chairman of the Board, who were
evaluated on parameters such as level of engagement and contribution, independence of judgment,
safeguarding the interest of the Company and its minority Shareholders, etc.

The performance evaluation of the Independent Directors was carried out by the entire Board,
excluding the Director being evaluated. Independent Directors fulfil the criteria of independence,
and they are independent of management. The performance evaluation of the Chairman and non¬
independent Directors was also carried out by the Independent Directors at their separate meeting.
The Directors expressed their satisfaction with the evaluation process.

B. MEETING OF BOARD OF DIRECTORS

During the year, 15 (Fifteen) Board meetings were convened and held. The details thereof are given
in the Corporate Governance Report. The intervening gap between the Meetings was within the
period prescribed under the Companies Act, 2013.

C. FAMILIARISATION PROGRAMME FOR THE INDEPENDENT DIRECTORS

At the time of appointing a Director, a formal letter of appointment is given to the concerned
Director, which inter-alia explains the role, function, duties and responsibilities as expected from a
Director of the Company. The Director is also explained in detail, the compliance requirements
under the Act, the Listing Regulations and various statutes. A one to one discussion with the newly
appointed Director to familiarise him / her with the Company's operations.

Further, on an on-going basis as a part of Agenda of Board / Committee Meetings, presentations are
regularly made to the Independent Directors on various matters inter-alia covering the Company's
businesses and operations, industry and regulatory updates, strategies, finance, role, rights,
responsibilities of the Independent Directors under various statutes and other relevant matters.
Details of familiarization programmes under Regulations 25(7) and 46 of SEBI Listing Regulations to
Independent Directors are available on the website of the Company at
https://globetextiles.net/investors/code-policies/

D. NOMINATION AND REMUNERATION POLICY

The Company has adopted and implemented the Nomination and Remuneration Policy devised in
accordance with Section 178(3) and (4) of the Companies Act, 2013 which is available on the
website of the Company accessed at https://globetextiles.net/wp-
content/uploads/2024/04/Nomination-and-Remuneration-Policy.pdf.

13. DEPOSIT

The Company has not accepted or renewed any amount falling within the purview of provisions of
Section 73 of the Companies Act, 2013 ("the Act") read with the Companies (Acceptance of Deposit)
Rules, 2014 during the period under review. Hence, the requirement for furnishing the details of
deposits which are not in compliance with Chapter V of the Act is not applicable.

14. ANNUAL RETURN

Pursuant to the Section 92(3) of the Companies Act, 2013, read with the Companies (Management and
Administration) Rules, 2014, Annual Return of the Company for the financial year 2024-25 in the
prescribed Form MGT-7 is available on the website of the Company at

https://globetextiles.net/investors/annual-returns-mgt-7/#collapse-57.

15. AUDITORS AND AUDITORS' REPORT
Statutory A uditors

M/s Dharmesh Parikh & Co LLP (Firm Registration No. 112054W/W100725), Chartered Accountants, the
Statutory Auditors of the Company, were appointed at the 29^th Annual General Meeting held on
September 30, 2024 to hold office for a period of 5 (Five) years i.e. from the conclusion of 29^th Annual
General Meeting (AGM) till the conclusion of 34^th Annual General Meeting to be held in the year 2028¬
2029.

The Notes to the financial statements referred in the Auditors Report are self-explanatory. There are no
qualifications or reservations or adverse remarks or disclaimers given by Statutory Auditors' of the
Company and therefore do not call for any comments under Section 134 of the Companies Act, 2013.
The Auditors' Report is enclosed with the financial statements in this Annual Report.

Cost Auditors

Pursuant to Section 148 of the Act read with rules made thereunder, as amended from time to time, the
Company is required to maintain the cost accounts and records of the Company, accordingly, the Board
has appointed M/s Maulin Shah & Associates, Cost Accountants, Firm Registration No. 101527, as Cost
Auditor to prepare and to audit the Cost records of the Company for the financial year 2024-25. The
remuneration payable to the Cost Auditor shall be subject to ratification by the shareholders at the
Annual General Meeting. Accordingly, the necessary Resolution for ratification of the remuneration
payable to cost auditor for the financial year 2025-26, has been included in the Notice forming the part
of this Integrated Annual report.

Secretarial Auditor

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, and Listing Regulations, M/s K.
Jatin & Co., Practicing Company Secretaries was appointed as Secretarial Auditors of the Company for
the financial year 2024-25. The Secretarial Audit Report submitted by M/s K. Jatin & Co. for the Financial
Year 2024-25 is annexed herewith and marked as Annexure-"D" to this report. Further, there has been
no qualification, reservation, adverse remarks or disclaimer made by the Secretarial Auditors in their
report for the financial year ended March 31, 2025. During the year under review, the Auditors had not
reported any matter under Section 143(12) of the Act.

16. INTERNAL FINANCIAL CONTROLS

Your Company has an effective internal control and risk-mitigation system, which is constantly assessed
and strengthened with new/revised standard operating procedures. The Company's internal control
system is commensurate with its size, scale and complexities of operations. To enhance the internal
control procedures, the Company has appointed M/s. Shefali R Sheth & Co. as its internal auditor.

It also ensures that they are recorded in all material respect to permit preparation of financial
statements in conformity with established accounting principles along with the assets of the Company
being adequately safeguarded against significant loss or misuse. An independent Internal Audit function
is an important element of Company's Internal Control System. This is supplemented through an
extensive internal audit program and periodic review by the management and the Audit Committee of
Board.

17. PARTICULARS OF LOAN, GUARANTEES OR INVESTMENT MADE UNDER SECTION 186

During the year, the Company has not given loans and advances covered under the provisions of Section
186 of the Companies Act, 2013. However, the company has provided loan and security for the
borrowing made by Globe Denwash Private Limited within the limits as per Section 186 of the
Companies Act, 2013.

18. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

The Company in the normal course of its business enters in to related party transactions with companies
engaged in similar or ancillary business. The Audit Committee approves all the Related Party
Transactions in compliance with the provisions of the Act, and Listing Regulations Omnibus approval is
obtained on a yearly basis for transactions which are repetitive in nature. Transactions entered into
pursuant to omnibus approval are placed before the Audit Committee and the Board for review and
approval/noting on a quarterly basis. All related party transactions entered during the financial year
were in ordinary course of the business and on arm's length basis. Details of material related party
transaction entered during the financial year by the Company is annexed in Form AOC-2 as Annexure-

19. COMMITTEES OF THE BOARD

The Board of Directors have constituted the following Committees. The details of composition of the
Board Committees are as follows:

Audit Committee

Nomination and Remuneration Committee

Stakeholders Relationship Committee

Corporate Social Responsibilities Committee

The details of the Committees of the Board along with their composition, attendance of members and
number of meetings held during the financial year 2024-25 are provided in the Report on Corporate
Governance forming part of the Annual Report 2024-25.

20. VIGIL MECHANISM & WHISTLE BLOWER POLICY

The Company has a Vigil mechanism & Whistle blower policy under which the employees are free to
report violations of applicable laws and regulations and the Code of Conduct. The reportable matters
may be reported to the Vigilance & Ethics Officer which operates under the supervision of the Audit

Committee, as protected disclosures through an e-mail, or dedicated telephone line or a written letter.
Employees may also report directly to the Chairman of the Audit Committee. The said Policy is available
on the website of the Company at https://globetextiles.net/wp-content/uploads/2024/04/Vigil-
Mechanism.pdf.

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

The information on conservation of energy, technology absorption and foreign exchange earnings and
outgo stipulated under Section 134(3)(m) of the Companies Act, 2013 read with the Companies
(Accounts) Rules, 2014 has been annexed as Annexure - "F".

22. PARTICULARS OF EMPLOYEES AND OTHER ADDITIONAL INFORMATION

The information required under Section 197 of the Companies Act, 2013 read with rule 5(1) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided in the
Report and marked as Annexure-"G". No employee of the Company was in receipt of the remuneration
exceeding the limits prescribed in the rule 5(2) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014.

23. ENVIRONMENT, HEALTH AND SAFETY

The Company is conscious of the importance of environmentally clean and safe operations. The
Company conduct business operations in such a manner so as to ensure safety of all concerned,
compliances of environmental regulations and preservation of natural resources.

24. CORPORATE SOCIAL RESPONSIBILITY (CSR)

In Accordance with section 135 of the Act and Rules framed thereunder, the Company has constituted a
Corporate Social Responsibility ("CSR") Committee of Directors. The details of composition of CSR
Committee are given in the Corporate Governance Report.

The policy can be accessed at http://globetextiles.net/wp-content/uploads/2021/06/Corporate-Social-
Responsibility-Policy.pdf. The details of CSR policy and CSR spending by the Company have been
provided as Annexure-"H" to this report, as required under the Companies (Corporate Social
Responsibility Policy) Rules, 2014.

25. TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

There has not been an occasion in case of the Company during the year to transfer any sums or shares to
the Investor Education and Protection Fund.

26. RISK MANAGEMENT POLICY

The Board of Directors of the Company has put in place a Risk Management which aims at enhancing
shareholders' value and providing an optimum risk-reward trade off. The risk management approach is
based on a clear understanding of the variety of risks that the organisation faces, disciplined risk
monitoring and measurement and continuous risk assessment and mitigation measures.

27. DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134(5) of the Act, with respect to Directors Responsibility
Statement, your Directors state that:

(a) in the preparation of the annual accounts for the financial year ended March 31, 2025, the applicable
accounting standards have been followed along with proper explanation relating to material departures.
There are no material departures from the same;

(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 March 31, 2025 and of the profit and loss of the
Company for that period;

(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 Directors have prepared the annual accounts on a 'going concern' basis;

(e) the Directors have laid down internal financial controls to be followed by the Company and that such
internal financial controls are adequate and are operating effectively; and

(f) the Directors have devised proper systems to ensure compliance with the provisions of all applicable
laws and that such systems are adequate and operating effectively.

28. OTHER REPORTINGS

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

a. There was no revision in the financial statements.

b. The Company has not issued any sweat equity shares.

c. The Company has not issued any shares with differential voting rights.

d. There has been no change in nature of business.

e. The Company has not made any application during the year under Insolvency and Bankruptcy Code,
2016 and there is no proceeding pending under the said Code as at the end of the financial year.

f. During the year, the Company has not undergone any one-time settlement and therefore the
disclosure in this regard is not applicable.

g. The Company is not having any Employee Stock Option Scheme under Section 62(1) of the
Companies Act, 2013.

29. SECRETARIAL STANDARDS

During the year under review, your Company has complied with the applicable Secretarial Standards
issued by the Institute of Company Secretaries of India.

30. LISTING

The shares of your Company are listed at National Stock Exchange of India Limited. The listing fees to the
Stock Exchange for the year 2025-26 have been paid.

31. PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

During the year under review, the Company has not received any complaint under the Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The Company
has complied with the provisions relating to the constitution of an Internal Complaint Committee under
the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

The policy of the "Prevention of Sexual Harassment of Women at Workplace" of the Company is
available on the website of the Company at https://globetextiles.net/wp-
content/uploads/2024/04/Sexual-Harassment-Policy.pdf.

32. ACKNOWLEDGEMENTS

Your Directors wish to thank its customers, Business Associates, Members, Bankers, Government Bodies
& Regulators for their continued support and faith reposed in the company. Your Directors also wish to

place on record appreciation for the contribution made by Employees for their commitment and
dedication towards the Company.

Registered Office: By Order of the Board of Directors

Plot No. 38 to 41, Ahmedabad Apparel Park, FOR GLOBE TEXTILES (INDIA) LIMITED

GIDC Khokhra, Ahmedabad,

Gujarat - 380 008

Date: August 29, 2025 Bhavik Suryakant Parikh

Place: Ahmedabad Chairman & Managing Director

(DIN:00038223)