Your Directors are delighted to present the Board’s Report as part of the 41^st Annual Report of Mallcom (India) Ltd ('the Company’ or
'Mallcom’), together with the Audited Standalone and Consolidated Financial Statements and the Auditor’s Report for the financial year
ended 31^st March 2025.

FINANCIAL HIGHLIGHTS

The Company’s financial performance for the year under review along with previous year’s figures are given hereunder:

Financial Hiahliahts:

OVERVIEW OF COMPANY PERFORMANCE

During the financial year 2024-25:

The Standalone Revenue of the Company increased to
H49,966.24 Lakhs from H40,983.58 Lakhs registering a growth of
21.92% over previous year.

The Consolidated Revenue of the company increased to
H51,568.27 Lakhs from H42,485.06 Lakhs registering a growth of
21.38% over previous year.

The Standalone and Consolidated profit after tax for the current
year was H5,864.50 Lakhs and H5,743.49 Lakhs respectively as
against H3,543.31 Lakhs and H3,631.58 Lakhs respectively for the
previous year.

SHARE CAPITAL

The paid-up Equity Share Capital as at March 31^st, 2025 was
H624.00 Lakh. During the year under review, the Company has not
issued shares with differential voting rights nor has granted any
stock options or sweat equity.

TRANSFER TO RESERVE

The Company has transferred an amount of H 5,500.00 lakh to the
General Reserve for the financial year ended March 31, 2025.

DIVIDEND

The Board of Directors at their meeting held on 19^th May 2025,
has recommended payment of H3/- (Rupees Three only) (30%)

per equity share of the face value of H10/- (Rupees Ten only) each
as final dividend for the financial year ended 31^st March 2025.
The payment of the final dividend is subject to the approval of
the shareholders at the ensuing Annual General Meeting (AGM)
of the Company. The dividend recommended by the Board, if
approved at the ensuing Annual General Meeting (AGM), will be
payable to those Members whose names appear in the Register
of Members as on the Record Date, which shall be specified in the
Notice of the AGM.

Total dividend of 30% for the financial year 2024-2025 would
absorb H187.20 Lakhs.

Due to amendments in the Income-tax Act, 1961 by the Finance
Act, 2020, dividends paid by the Company are taxable in the
hands of shareholders. Accordingly, the Company will deduct tax
at source before paying the final dividend.

TRANSFER OF UNCLAIMED DIVIDEND AND
SHARES TO INVESTOR EDUCATION AND
PROTECTION FUND (IEPF)

Pursuant to the provisions of Section 124(5) of the Companies
Act, 2013, any dividend that remains unpaid or unclaimed for a
period of seven years from the date of its transfer to the Unpaid
Dividend Account is required to be transferred to the Investor
Education and Protection Fund (IEPF), established by the Central
Government under Section 125 of the Act.

In compliance with the above, your Company has transferred
an amount of H30,660/- during the financial year 2024-25 to
the IEPF. This amount had remained unclaimed/unpaid with the
Company for a period of seven years following the declaration of
the Final Dividend for the financial year 2016-17.

Further, pursuant to the provisions of Section 124(6) of the
Companies Act, 2013, the Company also transferred a total of 506
equity shares, held by 6 shareholders, to the IEPF Authority These
shares were in respect of dividends that had not been claimed for
seven consecutive years or more.

However, the shareholders may re-claim those shares from the
IEPF Authority by complying with prescribed procedure and
filing the e-Form IEPF-5 online with MCA portal. The shareholder
claiming the shares should take a printout of the e-Form IEPF-5
and forward the same with all documents as mentioned in
the e-form to the NODAL Officer of the Company for onward
submission to the IEPF Authority along with verification report.
The name, address, and contact no of the NODAL Officer of the
company is given hereunder:

Name: Mr. Ajay Kumar Mall
Designation: Managing Director
Mallcom (India) Limited

Regd. Office: EN-12, Sector 5, Salt Lake, Kolkata - 700091, India
Contact No.: 033-40161000
E-mail: investors@mallcom.in

MATERIAL CHANGES AND COMMITMENTS
AFFECTING THE FINANCIAL POSITION OF THE
COMPANY.

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.

CHANGE IN NATURE OF BUSINESS

There has been no change in the nature of business of the
company. Your Company continues to be one of the leading
Personal Protective Equipment Manufacturer in the country

SUBSIDIARY COMPANIES

The Company has two wholly owned subsidiaries, namely
Mallcom VSFT Gloves Pvt. Ltd (MVSFT), and Mallcom Safety Pvt.
Ltd (MSPL). The Company regularly monitors the performance of
these companies.

The Consolidated Profit and Loss Account for the period
ended 31^st March 2025, includes the Profit and Loss Account
for the subsidiaries for the complete Financial Year ended 31^st
March 2025.

The Consolidated Financial Statements of the Company
including all subsidiaries duly audited by the statutory auditors
are presented in the Annual Report. The consolidated financial
statements have been prepared in strict compliance with
applicable Indian Accounting Standards and wherever applicable,
the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as prescribed by the Securities and Exchange
Board of India.

A Report on Performance and Financial Position of each of the
Subsidiaries in Form AOC—1, is annexed herewith as Annexure -
A of this report. The annual accounts of the subsidiary companies
and the related detailed information shall be made available to
Shareholders of the Company upon request, and it shall also be
made available on the website of the Company at www.mallcom.
in.

The policy for determining material subsidiaries as approved may
be accessed from the Company website at www.mallcom.in.
under the “Codes & Policies” tab.

DIRECTORS AND KEY MANAGERIAL PERSONNEL
Composition

The board of directors of our company is duly constituted and
adheres to all requirements stipulated by the applicable laws,
listing regulations, and provisions outlined in the Articles of
Association. The composition of our board reflects the requisite
diversity, wisdom, expertise, and experience necessary to
effectively oversee and guide the operations of our company,
aligned with its scale and strategic objectives

Director retiring by rotation

Mr. Giriraj Mall (DIN: 01043022), retires by rotation at the ensuing
Annual General Meeting and being eligible, offers himself for re¬
appointment in accordance with the provisions of Section 152(6)
and other applicable provisions of the Companies Act, 2013.

Appointment / Re-appointment of Directors

During the financial year 2024-25, Ms. Mayuri Kaustubh Dhavale
(DIN: 02960956) and Ms. Srishty Mehra (DIN: 01268588) were
appointed as Independent Directors of the Company not liable
to retire by rotation, for a period of five (5) consecutive years with
effect from July 26, 2024, to July 25, 2029 (both days inclusive),
by means of passing Special Resolutions by the members at the
40^th Annual General Meeting of the Company held on September
19, 2024.

Based on the recommendation of the Nomination and
Remuneration Committee, the Board of Directors, at its meeting
held on May19, 2025, has re-appointed Mr. Giriraj Mall as Executive
Director of the Company for a further term of five years, with effect
from June 1,2025, to May 31,2030 (both days inclusive), subject to
the approval of the members of the Company.

Cessation of Directors

Mr. Ravindra Pratap Singh (DIN: 00240910) and Mrs. Barsha
Khattry (DIN: 01974874) ceased to be Independent Directors
of the Company upon the completion of their second term as
an Independent Director, and consequently also ceased to be
Directors of the Company with effect from the close of business
hours on August 27, 2024.

Key Managerial Personnel

There were no changes in the Key Managerial Personnel of your
Company during the financial year 2024-25.

Non-Disqualification of Directors

None of the Directors of the Company have incurred any
disqualification under Section 164(1) or Section 164(2) of the
Companies Act, 2013.

A Certificate of Non-Disqualification of Directors, pursuant
to Regulation 34(3) of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 obtained from
Ms. Neha Poddar, Practicing Company Secretary has been
annexed as Annexure - D of this report.

DECLARATION BY INDEPENDENT DIRECTORS

During the financial year 2024-25, all Independent Directors of the
Company submitted declarations affirming their independence,
in compliance with the provisions of Section 149(6) read with
Section 149(7) of the Companies Act, 2013, and in accordance
with Regulations 16(1)(b) and 25(8) of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015.

In the opinion of the Board, all Independent Directors meet the
criteria specified under the Companies Act, 2013, with respect
to integrity, expertise, experience (including proficiency), and are
independent of the management.

DIRECTORS’ RESPOSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013, the Board
of Directors, to the best of their knowledge and ability, confirm that:

a) In the preparation of the annual accounts for the year ended
March 31^st, 2025, the applicable accounting standards have
been followed along with proper explanation relating to
material departures.

b) They 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 and of the profit of the company for the year.

c) They have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance
with the provisions of the Companies Act, 2013 for
safeguarding the assets of the company and for preventing
and detecting fraud and other irregularities.

d) They have prepared the annual accounts on a going
concern basis.

e) They have laid down internal financial controls to be
followed by the company that are adequate and were
operating effectively.

f) They have devised proper systems to ensure compliance
with the provisions of the applicable laws and these are
adequate and are operating effectively.

COMMITTEES OF THE BOARD

Currently, the Board has four committees: Audit Committee,
Nomination and Remuneration Committee, Stakeholders
Relationship Committee and Corporate Social Responsibility
Committee. A detailed note on the composition of the Board and
its committees is provided in the Corporate Governance Report
section of this Report.

NUMBER OF MEETINGS OF THE BOARD OF
DIRECTORS

During the year under review, 5 (Five) meetings of the Board of
Directors were held. The details of the meetings of the Board of
Directors of the Company held and attended by the Directors
during the financial year 2024-25 are given in the Corporate
Governance Report which forms part of this Annual Report.

The maximum interval between any two meetings did not exceed
120 days, as prescribed by the Act.

The Company has complied with Secretarial Standards issued by
the Institute of Company Secretaries of India on Meetings of the
Board of Directors and General Meetings.

COMPANY’S POLICY ON DIRECTORS’
APPOINTMENT AND REMUNERATION

The Board of Directors in consonance with the recommendation
of the Nomination and Remuneration Committee (NRC) has
adopted a term of reference which, inter alia, deals with the
manner of selection of Director and Key Managerial Personnel of
the Company. The NRC recommends appointment of Director,
Chief Executive Officer and Manager based on their qualifications,
expertise, positive attributes, and independence in accordance
with prescribed provisions of the Companies Act, 2013 and rules
framed there under. The NRC is responsible for identifying and
recommending persons who are qualified to become directors
or part of senior management of the Company. Remuneration
Policy for the members of the Board and Executive Management
has been framed, the said policies earmark the principles of
remuneration and ensure a well-balanced and performance
related compensation package considering shareholders’
interest, industry practices and relevant corporate regulations in
India. The Nomination and Remuneration Policy of the Company
is available on the website of the Company at www.mallcom.in
under the “Codes & Policies” tab.

ANNUAL EVALUATION OF BOARD, ITS
COMMITTEES, AND INDIVIDUAL DIRECTORS

Annual evaluation of Board, its performance, Committees, and
individual Directors pursuant to applicable provisions of the
Companies Act, 2013 and applicable regulations of the Listing
Regulations, was carried out.

The performance of the Board was evaluated after seeking input
from all the Directors present in the meeting on the basis of criteria
such as the board composition and structure, effectiveness of
board processes, information, and functioning, etc.

The Board and Nomination & Remuneration Committee had
evaluated / reviewed the performance of individual Directors
on the basis of criteria such as the contribution of the individual
Director to the board and committee meetings like preparedness
on the issues to be discussed, meaningful and constructive
contribution and inputs in meetings, etc.

The Securities and Exchange Board of India vide circular SEBI /
HO /CFD /CMD/ CIR/ 2017/004 dated January 05, 2017, issued
a Guidance Note on Board Evaluation about various aspects
involved in the Board Evaluation process to benefit all stakeholders.
While evaluating the performance, the above guidance note was

considered. Performance evaluation of Independent Directors
was carried out by the entire board, excluding the Independent
Director being evaluated.

During the financial year 2024-25, the Independent Directors
met twice without the presence of Executive Directors and
management to review the performance of the Non-Independent
Directors and the overall effectiveness of the Board. The evaluation
included an assessment of the quality, quantity, and timeliness of
information flow between management and the Board.

The same was discussed in the board meeting that followed the
meeting of the Independent Directors, at which the performance
of the board, its committees, and individual Directors were also
discussed. The Directors expressed their satisfaction with the
evaluation process.

FAMILIARIZATION PROGRAM FOR
INDEPENDENT DIRECTORS

All Independent Directors are familiar with the operations
and functioning of the Company. The details of the training
and familiarization program are provided in the Corporate
Governance Report.

CODE OF CONDUCT

The Company’s code of conduct is grounded in the principle that
all business activities should uphold professionalism, honesty,
and integrity, thereby bolstering the Company’s reputation. The
Code mandates lawful and ethical conduct in all aspects of the
Company’s operations and interactions. The Company’s Policy
on Code of Conduct can be accessed on the Company’s website
at www.mallcom.in, located under the 'Codes & Policies’ section.

COMMITTEES OF THE BOARD OF DIRECTORS

The Board has Four Committees that have been mandatorily
constituted in compliance with the requirements of the
Companies Act, 2013 and the Listings Regulations. The Board
has adopted charters setting forth the roles and responsibilities
of each of the Committees. The Board has constituted following
Committees to deal with matters and to monitor activities falling
within their respective terms of reference: As on 31^st March 2025,
the following 4 (Four) committees are as follows:

1. Audit Committee,

2. Nomination and Remuneration Committee,

3. Corporate Social Responsibility Committee and

4. Stakeholders Relationship Committee.

A detailed note on the composition of the Board and its
committees, including its terms of reference, is provided in the
Corporate Governance Report. The composition and terms
of reference of all the Committee(s) of the Board of Directors
of the Company is in line with the provisions of the Act and
Listing Regulations.

During the year, all recommendations made by the committees
were approved by the Board.

ANNUAL RETURN

In terms of provisions of Section 92(3) read with Section 134(3)
(a) of the Act, the draft Annual Return as on 31^st March 2025 is
available on the website of the Company at www.mallcom.in.

STATUTORY AUDITORS

The Report given by M/s. S. K. Singhania& Co, Chartered
Accountants, on the financial statements of the Company for the
financial year 2024-25 forms part of this Annual Report. There is
no qualification, reservation or adverse remark or disclaimer in
their Report. During the year under review, the Auditors did not
report any matter under Section 143 (12) of the Act.

DISCLOSURE ON MAINTENANCE OF COST
RECORDS

The Company made and maintained the Cost Records under
Section 148 of the Companies Act, 2013 for the Financial Year
2024-25.

SECRETARIAL AUDITORS

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 Regulation 24A of SEBI
(Listing Obligations and Disclosure Requirements) Regulations,
2015, the Company had appointed M/s. Rakhi Dasgupta &
Associates, Company Secretaries in practice to undertake
the Secretarial Audit of the Company for the financial year
2024-25. The Secretarial Audit report forms part of this Report as
Annexure - B. The Secretarial Audit Report does not contain any
qualifications, reservation, and adverse remark.

A Secretarial Compliance Report for the financial year ended 31^st
March 2025 on compliance of all applicable SEBI Regulations
and circulars/ guidelines issued thereunder, was obtained from
M/s. Rakhi Dasgupta& Associates, Secretarial Auditors, and duly
submitted to the stock exchanges.

PARTICULARS OF LOANS, GUARANTEES OR
INVESTMENTS BY THE COMPANY

The Particulars of Loans, Guarantees and Investments covered
under the provisions of Section 186 of the Companies Act, 2013
and Schedule V of the Securities and Exchange Board of India
(Listing Obligation and Disclosure Requirements] Regulation,
2015 are given in the notes to the Financial Statements.

RELATED PARTY TRANSACTIONS

All transactions entered with Related Parties for the year under
review were on arm’s length basis and in the ordinary course
of business and the provision of Section 188 of the Companies
Act, 2013 and the Rules made thereunder are not attracted.
Thus, disclosure in form AOC - 2 in terms of Section 131 of the
Companies Act, 2013, is not required. Further, there are no
material related party transactions during the year under review
with the Promoters, Directors, or Key Managerial Personnel. The
Company’s policy on Related Party Transaction is available on the
website of the Company at www.mallcom.in under the “Codes &
Policies” tab.

The details of related party disclosure under the relevant
accounting standard form part of the notes to the financial
statement provided in the Annual Report.

DEPOSIT

During the financial year under review, the company did not accept
any deposit covered under Section 73 of the Companies Act,
2013 read with Companies (Acceptance of Deposits) Rules, 2014.

CORPORATE SOCIAL RESPONSIBILITY

The Company had a net CSR obligation of H90.78 lakhs for the
financial year 2024-25 and spent H91.84 lakhs towards it during
the year. Additionally H87.13 lakhs was spent towards CSR shortfall
from previous years, totaling H178.97 lakhs. There was no unspent
amount as of 31 March 2025. The excess CSR expenditure of
H1.06 lakhs is eligible for set-off in the three succeeding financial
years. A summary of the CSR Policy and initiatives is provided in
Annexure - C, as per the Companies (CSR Policy) Rules, 2014.

The CSR Policy is available on the Company’s website at: www.
mallcom.in.

For further details pertaining to the CSR Committee, including its
composition and meetings held during the year, please refer to the
Corporate Governance Report, which forms an integral part of
this Annual Report.

MANAGEMENT DISCUSSION AND ANALYSIS
REPORT

The Management’s Discussion and Analysis forms part of this
annual report and is annexed to this Report.

CORPORATE GOVERNANCE

The Company is committed to adopting good corporate
governance practices. The report on Corporate Governance
for the financial year ended March 31^st, 2025, as per Regulation
34(3) read with Schedule V of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 forms a part of this
Annual Report. The requisite Certificate from Practicing Company
Secretary for confirming the compliance with the conditions of
Corporate Governance is annexed to the Report.

RISK MANAGEMENT

Risk Management is a fundamental component of our corporate
strategy complementing our organizational capabilities with
business opportunities through robust planning and execution.
Our structured risk management system enables calibrated risk¬
taking, providing a comprehensive view of our business. Risks are
identified in a structured manner using a top-down to bottom-up
approach. A crucial element of sustainable value creation is our
ability to manage risks effectively and our willingness to undertake
them. In accordance with new regulatory requirements, we have
developed a Risk Management Policy to identify key risk areas,
monitor compliance, and assess effectiveness. We consistently
take appropriate actions as per this Policy to mitigate the
adverse impacts of various risks that could potentially affect our
performance. The Risk management policy of the company may
be accessed on the company’s website, www.mallcom.in, under
the “Codes & Policies” tab.

ADEQUACY OF INTERNAL FINANCIAL

CONTROLS WITH REFERENCE TO THE

FINANCIAL STATEMENTS

The Company has robust Internal Financial Controls Systems
in place commensurate with the size and nature of its business,
which facilitates orderly and efficient conduct of its business
including adherence to Company’s policies, safeguarding
of its assets, prevention and detection of frauds and errors,
accuracy and completeness of the accounting records and
timely preparation of reliable financial information. The internal
control system ensures compliance with all applicable laws and
regulations and facilitates the optimum utilization of available
resources and protects the interests of all stakeholders. The
internal control systems are monitored and evaluated by the
internal auditors and their audit reports are reviewed by the
Audit Committee of the Board at periodic intervals. The details
of the internal control system and adequacy are covered in the
Management Discussion and Analysis Report.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

In compliance with the provisions of Section 177(9) of the Act and
SEBI Listing Regulations, the Company has framed a Whistle
Blower Policy / Vigil Mechanism for Directors, employees, and
stakeholders for reporting genuine concerns about any instance
of any irregularity, unethical practice and/or misconduct. Besides,
as per the requirement of Clause 6 of Regulation 9A of SEBI
(Prohibition of Insider Trading) Regulations as amended by SEBI
(Prohibition of Insider Trading) (Amendment) Regulations, 2018,
the Company ensures to make employees aware of such Whistle
Blower Policy to report instances of leak of unpublished price
sensitive information. The Vigil Mechanism provides adequate
safeguards against victimization of Directors or employees or
any other person who avails the mechanism and provides direct
access to the Chairperson of the Audit Committee. The Whistle
Blower Policy may be accessed on the Company’s website www.
mallcom.in under the “Codes & Policies” tab.

HUMAN RESOURCES

The Company firmly believes that the quality of its employees
is fundamental to its success. Accordingly, it is dedicated
to providing them with the skills necessary to adapt to
technological advancements.

Throughout the year, the Company maintained positive industrial
relations with its workforce. Human Resource Development
initiatives were a major focus, with significant efforts directed
towards training and skill enhancement to prepare employees for
the complexities of the evolving work environment. The Company
regularly conducts workshops and seminars designed to foster
a harmonious work culture, uphold ethical standards, and drive
exceptional performance. Details pursuant to the provisions of
Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of
the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, are provided in Annexure E.

CREDIT RATING

During the year under review, ICRA Limited reaffirmed the
Company’s long-term rating of [ICRA]A (Stable) for its fund-
based working capital bank facilities.

DISCLOSURE UNDER THE SEXUAL
HARRASMENT OF WOMEN AT WORKPALCE
(PREVENTION, PROHIBITION AND REDRESSAL),
ACT, 2013.

At Your Company, we believe that every employee deserves to
work in a safe, respectful, and supportive environment. We aim
to build a workplace where our values are reflected in everyday
actions and where everyone feels welcomed and respected.

We are committed to preventing any form of sexual harassment
at the workplace. Employees are made aware of what sexual
harassment means and what steps they can take if they face or
witness such behavior. To support this, we have a clear policy in
place that explains how someone can report a concern and how
it will be handled.

An Internal Committee has been constituted in accordance with
the provisions of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 and the Rules
framed thereunder. This Committee is responsible for addressing
any complaints received and ensures that all matters are handled
in a fair, impartial, and confidential manner.

As per the requirement of the Act, the Company has in place
a policy on prevention of sexual harassment of women which
provides for the protection of women employees at the workplace
and for prevention and redressal of complaints. The Policy may
be accessed on the Company’s website www.mallcom.in under
the “Codes & Policies” tab. Throughout the year, no complaints
were reported.

During the financial year 2024-25, no complaints pertaining
to sexual harassment were received. As part of its ongoing
commitment to a safe and inclusive workplace, the Company
conducted training sessions during the year to enhance employee
awareness and understanding of workplace harassment,
and to reinforce the importance of fostering a respectful
work environment.

In recognition of its employee-centric culture and practices, the
Company was also awarded the 'Great Place to Work’ certification
during FY 2024-25 — a significant achievement earned on its very
first attempt.

Details of Sexual Harassment Complaints (FY 2024¬
2025):

STATEMENT ON COMPLIANCE WITH THE
MATERNITY BENEFIT ACT, 1961

The Company confirms that it complies with all provisions of the
Maternity Benefit Act, 1961. All eligible women employees are
provided maternity benefits as per the law.

CONSERVATION OF ENERGY, TECHNOLOGY
ASORPTION AND FOREIGN EXCHANGE

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 Rule 8
of the Companies (Accounts] Rules, 2014, is annexed herewith as
Annexure — F.

SIGNIFICANT AND MATERIAL ORDER PASSED BY
THE REGULATORS OR COURTS OR TRIBUNALS
IMPACTING THE GOING CONCERN STATUS AND
COMPANY’S OPERATION IN FUTURE

There were no significant and material orders passed by the
Regulators or Courts or Tribunals during the year impacting the
going concern status and the operations of the Company in future.

LISTING

The equity shares of the Company continue to be listed at the
Bombay Stock Exchange (BSE) and National Stock Exchange
(NSE). The Company has paid the requisite listing fees to all the
Stock Exchanges for FY 2024-25.

GREEN INITIATIVES

As a responsible corporate citizen, the Company supports the
'Green Initiative’ undertaken by the Ministry of Corporate Affairs,
Government of India, enabling electronic delivery of documents
including the Annual Report etc. to Shareholders at their e-mail
address previously registered with the DPs and RTAs. To support
the 'Green Initiative’, Members who have not registered their email
addresses are requested to register the same with the Company’s
Registrar and Share Transfer Agent/Depositories for receiving all
communications, including Annual Report, Notices, Circulars, etc.,
from the Company electronically. Pursuant to the MCA Circulars
and SEBI Circulars, copies of the Notice of the 41^st AGM and the
Annual Report of the Company for the financial year ended 31^st
March 2025 including therein the Audited Financial Statements for
the year 2024-2025, are being sent only by email to the Members.

ACKNOWLEDGEMENT

Your Directors would like to sincerely thank all the dealers, agents,
suppliers, investors, bankers, and other business partners for
their continued support, cooperation, and valuable guidance.
They also thank the various departments of the State and
Central Governments for their ongoing support to the Company.
The trust and belief shown in the Company’s management is
truly appreciated.

Your Directors also thank all employees for their hard work,
dedication, and valuable contributions. Every member of the
Mallcom family plays an important role in the Company’s growth,
and their efforts are deeply valued.

For and behalf of the Board

Sd/- Sd/-

Ajay Kumar Mall Giriraj Mall

Date: August 4, 2025 Chairman, Managing Director & CEO Executive Director

Place: Kolkata DIN: 00470184 DIN: 01043022