To,

The Members,

Your Directors have pleasure in presenting the Thirty Second Annual Report of the Company together with the Audited Statements of Accounts for the financial year ended 31st March, 2024.

The Financial performance of the Company for the Financial Year ended 31^st March, 2024, is summarized below:

(Rupees in Lakhs)

Your Directors have decided not to declare any dividend for the financial year 2023-24.

No amount was transferred to reserves during the year under review.

There was no change in the nature of business of the Company during the financial year 2023-24.

5. BUSINESS OPERATIONS/STATE OF COMPANY'S AFFAIRS

The year saw a challenging business environment with lower GDP growth and slowdown in consumption. This resulted into a weakening consumer sentiment. During the period ended 31^st March, 2024, the loss suffered by the Company amounts to Rs. 69.44 lakhs as compared to loss suffered in the previous year 31^st March, 2023 which was Rs. 839.40.

6. INDEPENDENT DIRECTORS' DECLARATION

All the Independent Directors of the Company have given their declarations that they meet the criteria of Independence as prescribed under section 149 (6) of the Companies Act, 2013 ("the Act").

In accordance with the provisions of Section 152 of the Companies Act, 2013 and Articles of Association of the Company, Mr. Navin Kumar Jain (DIN: 00499139) Director of the Company is liable to retire by rotation at the ensuing Annual General Meeting ("AGM") of the Company and being eligible, offer himself for re-appointment.

Subject to the approval of members at the ensuing AGM by way of Ordinary Resolution, on recommendations of the Nomination and Remuneration Committee ("NRC") the Board of Directors at its meeting held on 16th July, 2025, has proposed to appoint Mr. Ajay Kumar Jain (DIN : 00499309) as Managing Director of the Company w.e.f. 16.06.2025 for a further period of five consecutive years and to approve their Remuneration as recommended and Board hereby obtains the consent of Shareholders as required under Section 196 of the Act.

Mrs. Neha (DIN: 11143488), and Mr. Sanjay Narsaria (DIN: 07766779) were appointed as an Additional Directors by the Board in it's meeting on 11th July, 2025 to hold office with effect from 12^th June, 2025.

Mr. Trilochan Paria (DIN: 10928302) and Mrs. Sangita Sharma (DIN: 02302454) appointed as Additional Director under Independent Category by the Board at its meeting held on 14^th February, 2025 effective 15^th February, 2025. However, due to personal reasons, both resigned from the Board on 11^th June, 2025 effective immediately.

Pursuant to the provisions of Sections 2(51) and 203 of the Act read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the following persons are acting as Key Managerial Personnel of the Company:-

1. Mr. Ajay Kumar Jain Managing Director

2. Raj Kumar Baidya Chief Financial Officer (Appointed wef 15.02.2025)

Pursuant to the provisions of Section 134(3)(p) of the Act and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an annual performance evaluation of its own performance, Board's Committees, as well as, Directors individually including performance of Independent Directors, after seeking inputs from all the Directors/Committee members and finds it satisfactory.

The Board of Directors have met six times during the financial year 2023-24.

The details of Board Meetings held are disclosed in Corporate Governance Report appended to Directors' Report.

Pursuant to the Provisions of Section 134(3) of the Act, your Directors confirm that

1. in the preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

2. the accounting policies adopted are consistently applied and judgments made 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 said period;

3. proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of this Act, for safeguarding the assets of the Company and for preventing & detecting errors & frauds and other irregularities;

4. annual accounts have been prepared on a going concern basis;

5. internal financial controls (as required by explanation to section 134(5) of the Act) is being followed by the Company and that such internal financial controls are adequate and were operating effectively;

6. proper systems have been devised to ensure compliance with all other applicable laws and that such systems are adequate and operating effectively.

There was no change in the authorized/issued or paid-up share capital of the company during the year.

During the year, the Company has not given any loans, or guarantee or provided security as per Section 186 of the Companies Act, 2013. The details of Investments made by the Company, as covered under the provisions of Section 186 of the Companies Act, 2013 are duly mention in the Notes to Accounts forming the part of Annual Financial Statements for the year ended 31^st March, 2024.

The Company's industrial relations continued to be harmonious during the period under review. The Human Resource function constantly endeavors on high performance. Your company is continuing its emphasis on training and alignment.

The Company has, in place, an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013.

Internal Complaints Committee ("Committee") has been set up to redress the complaints received regarding sexual harassment. During the year, no complaints of this nature were received by the Committee.

The information required pursuant to section 197 (12) of the Act read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of the employees of the Company is given in Annexure "A".

There is no Employee in the company who was / is drawing remuneration more than managerial personnel nor there is any employee who has drawn remuneration more than Rs. 102.00 Lakhs p.a. or 8.50 Lakhs p.m. as described under Rules Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

During the year under review, the Company does not have any joint venture or subsidiary Company.

All Related Party Transactions as entered into during the financial year were at Arm's Length basis and were in ordinary course of business. No materially significant related party transactions were entered/effected/undertaken by the Company with Promoters, Directors, Key Managerial Personnel, other designated persons or other related parties, which may have potential conflict with the interest of the Company at large.

All related party transactions were approved by the Audit Committee, as well as, the Board of Directors. The summary of such transactions is given in ‘Notes forming part of Accounts'.

The Policy on Related Party Transactions has been uploaded on the Company's Website, web-link of which is https://lordsgroup.in/policies/policy-on-dealing-with-related-party-transactions.pdf Form AOC 2 as required under section 134 (3) (h) of the Act read with rule 8(2) of the Companies (Accounts) Rules, 2014 is attached as Annexure "A (1)".

In terms of Sub-section 3(m) of Section 134 of the Act read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014, particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo are given in Annexure "B" forming part of this report.

As per provisions of Section 92 of the Companies Act, 2013 read with Rules made thereunder, a draft Annual Return of the Company is available on the website of the Company, web-link of which is https://lordsgroup.in.

The provisions of corporate social responsibility as specified under section 135 of the Companies Act, 2013 has no significance for the Company.

Your Company has a well-defined Whistle Blower Policy and has established Vigil Mechanism which provides adequate safeguards against victimisation of Reporting persons who follow such mechanism and also make provisions for direct access to the Chairman of Audit Committee in appropriate cases.

The Vigil Mechanism / Whistle Blower Policy has been placed on the Company's website https://lordsgroup.in/policies/whistle-blower-policy.pdf .

In compliance with the requirements of Section 178 of the Companies Act, 2013 and Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has laid down a Nomination and Remuneration policy which has been uploaded on the Company's website. The web-link for Nomination & Remuneration Policy is https://lordsgroup.in/ .

The salient features of the NRC Policy are as under:-

a.) Setting out the objectives of the Policy

b.) Definitions for the purposes of the Policy

c.) Policy for appointment and removal of Director, KMP and Senior Management

d.) Policy relating to the Remuneration for the Managerial Personnel, KMP, Senior Management Personnel & other employees.

The Company has a structured Risk Management Policy. The Risk Management Process is designed to safeguard the organization from various risks through adequate and timely actions. It is designed to anticipate, evaluate and mitigate risks in order to minimize its impact on the business. The potential risks are inventoried and integrated with the management process so that they receive the necessary consideration during decision making. It is dealt with in greater details in the management discussion and analysis section.

The Company has already formed the following committees to ensure timely compliances and better corporate governance of all the applicable rules and regulations:

1) Audit Committee,

2) Nomination & Remuneration Committee and

3) Stakeholders Relationship Committee.

The details about these committees are given in the Corporate Governance Report.

All the properties of the Company including plant and machinery, stocks etc. have been adequately insured. The Company has also taken adequate insurance cover for loss of profit and Standing Charges.

M/s RAJESH JALAN & ASSOCIATES, Chartered Accountants, having Firm Registration No: 326780E who were appointed as Statutory Auditors of the Company at the 30^th Annual General Meeting of the Company will continue as such for the term of five years.

Pursuant to the provisions of section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s. Hemant Sharma & Associates, a firm of Practicing Company Secretaries, Kolkata, as Secretarial Auditors for the financial year 2023-24 to undertake Secretarial Audit of the Company. The Secretarial Audit Report for the financial year 2022-23 is annexed herewith as Annexure "C".

The Company is under the process of Revocation of Suspension and it will take all the necessary steps to meet the applicable regulatory requirements. We also assure that all the requisite steps shall be taken in order to keep the Company complied with the applicable provisions of the Companies Act, 2013 read with relevant rules framed thereunder and all the applicable rules, regulations, circulars and guidance issued by the SEBI.

The Company has not appointed Internal Auditors for the Financial Year 2023-24.

The Company has not developed and implemented any Corporate Social Responsibility Policy pursuant to the provisions of Section 135 of the Companies Act 2013 and relevant Rules framed thereunder as the said provisions were not applicable to the Company. A Separate Report on Management Discussions & Analysis is annexed herewith which forms part of this Report.

No material changes and commitments affecting the financial position of the Company have occurred during the financial year and upto the date of this Report.

No orders have been passed by any Regulator or Court or Tribunal which can have impact on the going concern status and the Company's operations in future.

The Company has adequate Internal Control Systems commensurate with the size and nature of its business. Internal Control Systems are supplemented by internal audits carried out regularly by outside independent qualified Auditors. The Audit Committee interacts with the Statutory Auditors. The Management also regularly reviews the operational efficiencies, utilization of fiscal resources and compliance with laws so as to ensure optimum utilization of resources, achieve better efficiencies and comply with the laws of land.

There are no such events in the Company

All the applicable Secretarial Standards are being followed by the Company.

The Company has not accepted or continued any public deposits as contemplated under section 73 of the Act and the Companies (Acceptance of Deposits) Rules, 2014.

The bankers, and financial institutions have extended their full cooperation, support and valuable assistance to the Company. Your Directors place on record their appreciation for the same.