OUTCOME OF THE BOARD MEETING HELD ON 31.03.2025

The board approved the Director's Report for FY ended March 31, 2025 and recommended the appointment of M/s. Ashish Bhoola & Co. as new Statutory Auditors for a 5-year term (till the 2030 AGM), replacing M/s. Soni Jhawar & Co. whose term is expiring. Two new Independent Directors were appointed: Mr. Hiren Hasmukh Shah (Company Secretary with 9+ years of experience) and Mrs. Nishtha Harivanshi Pamnani (MBA Finance, 8+ years in corporate governance), both for 5-year terms. The board also proposed the appointment of Mr. Haribhai Becharbhai Malvia (aged over 75, long-serving director of 24+ years) as Non-Executive Non-Independent Director effective July 1, 2025, under SEBI Regulation 17(1A) for directors over 75 years. Mr. Harsukhbhai Mohanbhai Gondalia resigned as Non-Executive Non-Independent Director effective May 29, 2025 citing personal commitments. The 42nd AGM is scheduled for June 28, 2025 via video conference, with e-voting from June 24-27, 2025 (cut-off date June 21, 2025).