Laxmi Goldorna House Ltd Directors Report

To

The Members,

Laxmi Goldorna House Limited

Ahmedabad

Your Directors have pleasure in presenting their Annual Report on the business and operations of the Company and the accounts for the Financial Year ended March 31, 2024.

FINANCIAL SUMMARY

Particulars	2023-24	2022-23
Total Revenue	2,02,07,64,995	60,90,63,170
Total Expenditure	1,89,04,24,929	60,35,27,911
Profit /(Loss) Before Tax	12,99,64,737	55,35,259
Less: Current Tax	3,63,75,000	14,05,949
Deferred Tax	-11,94,814	1,65,515
Profit /(Loss) after Taxation	9,47,84,551	39,63,795
Balance carried to Balance Sheet	9,47,84,551	39,63,795
Earnings Per Share(EPS)
Basic	4.54	0.19
Diluted	4.54	0.19

FINANCIAL HIGHLIGHTS AND OPERATION

The Key highlights pertaining to the business of the company for the year 2023-24 and 2022-23 have been given hereunder:

• The total revenue of the Company during the Financial Year 2023-24 was Rs 2,02,07,64,995 against the total revenue of Rs 60,90,63,170 in the previous Financial Year 2022-23.

• The total expenses of the Company during the Financial Year 2023-24 was Rs 1,89,04,24,929 against the expenses of Rs 60,35,27,911 in the previous financial year 2022-23.

• The Profit after tax is ^9,47,84,551 for the Financial Year 2023-24 as compare to Rs 39,63,795 in the previous financial year 2022-23.

• The Directors trust that the shareholders will find the performance of the company for Financial Year 2023-24 to be satisfactory. The Earning per Share (EPS) of the company is Rs4.54 per share.

DIVIDEND

With a view to provide a cushion for any financial contingencies in the future and to strengthen the financial position of the Company, your directors have decided not to recommend any dividend for the period under review.

RESERVES

The net profit of the company for F.Y. 2023-24 is Rs 9,47,84,551. The Board of Director of Company has decided not to transfer any amount to the reserves for the year under review. The profit of F.Y. 2023-24 transfer to the surplus account.

CHANGE IN THE NATURE OF BUSINESS

For sustained growth in the future, Company wants to rely on the main businesses of company; there is no change in the nature of the business of the Company during the year.

CAPITAL STRUCTURE

A) AUTHORIZED SHARE CAPITAL

The authorized share capital of the company is Rs 21,00,00,000/- (Rupees Twenty One Crore Only) divided into 21000000 (Two Crore Ten Lakhs) Equity Shares of Rs 10/- (Rupees Ten Only) each.

B) PAID UP SHARE CAPITAL

The paid up share capital of the company at the end of financial year 2023-24 stood at Rs 20,87,19,000/- (Rupees Twenty Crore Eighty Seven Lakhs Nineteen Thousand Only) divided into 2,08,71,900 (Two Crore Eight Lakhs Seventy One Thousand Nine Hundred) Equity Shares of Rs 10/- (Rupees Ten Only). There has been no change in paid up share capital of the company during the financial year 2023-24.

C) ISSUE OF EQUITY SHARE WITH DIFFERENTIAL RIGHTS

The Company has not issued any Equity Shares with differential rights during the year under review.

D) SWEAT EQUITY

The Company has not issued any Sweat Equity Shares during the year under review.

E) BONUS SHARES

No Bonus Shares were issued during the year review.

F) EMPLOYEE STOCK OPTION

During the year there is no employee stock option scheme approved.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

There have no any material changes and commitments affecting the financial position of the company which have occurred between the end of the financial year if the company to which the financial statements relate and the date of the report.

The Authorised share capital of the company has been increase from Rs. 21,00,00,000 (Rupees Twenty- One Crores Only) divided into 2,10,00,000 (Two Crores Ten Lacs Only) Equity Shares of face value of Rs. 10 each (Rupees Ten Only) to Rs. 45,00,00,000 (Rupees Forty-Five Crores Only) divided into 4,50,00,000 (Four crores and fifty lacs Only) Equity Shares of face value of Rs. 10 each (Rupees Ten Only) ranking pari passu in all respect with the existing Equity Shares of the Company with effect from 08th April 2024.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANYS OPERATION IN FUTURE

No significant and material orders were passed by the regulators or courts or tribunals which affect the going concern status and future operation of the Company.

UTILIZATION OF IPO FUND

The Initial Public Offer fund is utilized for the purpose for which the amount is raised as mentioned in the prospectus and there is no deviation or variation in the Utilization of IPO Fund.

POLICY ON APPOINTMENT AND REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL AND SENIOR MANAGEMENT OF THE COMPANY:

The Board of Directors has formulated the Nomination and Remuneration Policy of your Company. The salient aspects covered in the Nomination and Remuneration Policy covering the policy on appointment and remuneration of Directors including criteria for determining qualifications, positive attributes, independence of a director and other matters. The same has been uploaded on website of the Company www.laxmilifestyle.co.in.

Salient feature of the Policy as follows:

(i) Appointment & Qualification:

a) The Committee shall identify and ascertain the integrity, qualification, expertise and experience of the person for appointment as Director, KMP or at Senior Management level and recommend to the Board his / her appointment. The Committee has discretion to decide whether qualification, expertise and experience possessed by a person are sufficient or satisfactory for the concerned position.

b) The Company shall not appoint or continue the employment of any person as Whole-Time Director who has attained the age of seventy years. Provided that the term of the person holding this position may be extended beyond the age of seventy years with the approval of shareholders by passing a special resolution based on the explanatory statement annexed to the notice.

(ii) Term/Tenure:

a) Managing Director/ Whole-Time Director:

The Company shall appoint or re-appoint any person as its, Managing Director or Whole-Time Director for a term not exceeding five years at a time. No reappointment shall be made earlier than one year before the expiry of term.

b) Independent Director:

An Independent Director shall hold office for a term up to five consecutive years on the Board of the Company and will be eligible for re-appointment on passing of a Special Resolution by the Company and disclosure of such appointment in the Boards report. No Independent Director shall hold office for more than two consecutive terms of up to maximum of 5 years each, but such Independent Director shall be eligible for appointment after expiry of three years of ceasing to become an Independent Director. Provided that an Independent Director shall not, during the said period of three years, be appointed in or be associated with the Company in any other capacity, either directly or indirectly.

(iii) Removal:

Due to reasons for any disqualifications mentioned in the Act or under any other applicable Act, rules and regulations there under, the Committee may recommend, to the Board with reasons recorded in writing, removal of a Director, KMP or Senior Management Personnel subject to the provisions and compliance of the said Act, rules and regulations.

(iv) Retirement:

The Directors, KMP and Senior Management Personnel shall retire as per the applicable provisions of the Act and the prevailing policy of the Company.

(v) Evaluation:

The Committee shall carry out evaluation of performance of every Director, KMP and Senior Management Personnel at regular interval (yearly).

(vi) Policy for remuneration to Directors/KMP/Senior management personnel:

a) Remuneration to Managing Director, Whole-Time Director, Executive, Key Managerial Personnel and Senior Management Personnel: The Remuneration/Compensation/ Commission etc. to be paid to Director/Managing Director etc. shall be governed as per provisions of the Companies Act, 2013 and rules made there under or any other enactment for the time being in force.

b) Remuneration to Non-Executive/ Independent Director: The Non-Executive Independent Director may receive remuneration/ compensation/commission as per the provisions of the Companies Act, 2013. The amount of sitting fees shall be subject to limits as provided under the Companies Act, 2013 and rules made there under or any other enactment for the time being in force and as may be decided by the Board in consultation with Non-Executive/ Independent Director. Provided that Non-Executive Independent Directors are not eligible for any Stock Option.

(vii) Review and amendment:

The Nomination and Remuneration Committee or the Board may review the Policy as and when it deems necessary. This Policy may be amended or substituted by the Nomination and Remuneration Committee or by the Board as and when required and also by the Compliance Officer where there is any statutory changes necessitating the change in the policy.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

As required under Regulation 34 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015 ("Listing Regulations") the Management Discussion and Analysis of the Company for the year under review is presented in a separate section forming the part of the Annual Report is attached here with as "Annexure I".

BOARD DIVERSITY:

The Company recognizes and embraces the importance of a diverse Board in its process. We believe that a truly diverse Board will leverage differences in thought, perspective, knowledge, skill, regional and industry experience, cultural and geographical background, age, ethnicity, race and gender which will help us retain our competitive advantage. The Board has adopted the Board diversity policy which sets out the approach to diversity of the Board of Directors.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

• As per Provisions of Section 152 of the Companies Act, 2013, Mr. Jayesh Chinubhai Shah is liable to retire by rotation and is eligible to offer himself for re-appointment.

• Changes made during the review period are as under:

Name of Director & KMP	Date of Event	Particulars of changes
1. Jayesh Chinubhai Shah [DIN: 02479665]	08-05-2023	Re-appointed as Managing Director of the Company for a period of Five (5) years.
2. Rupalben Jayeshkumar Shah [DIN: 02479662]	08-05-2023	Re-appointed as Whole Time Director of the Company for a period of Five (5) years.
3. Preet D Kuriya [DIN:09813390]	25-09-2023	Regularized as Independent Director for a period of Five (5) years.
4. Niravbhai Arvindbhai Shah [DIN: 07868247]	17-10-2023	Resigned as Independent Director of the Company
5. Manish Mahendrabhai Jain [DIN: 07871644]	17-10-2023	Resigned as Independent Director of the Company
6. Pooja Jadiya [DIN: 09673710]	17-10-2023	Appointed as additional independent director of the company
7. Meet Shah [DIN: 10373442]	30-10-2023	Appointed as additional independent director of the company
8. Smit Shah [DIN: 10362876]	04-11-2023	Appointed as additional independent director of the company
9. Pooja Jadiya [DIN: 09673710]	16-01-2024	Regularized as Independent Director for a period of Five (5) years.
10. Meet Shah [DIN: 10373442]	16-01-2024	Regularized as Independent Director for a period of Five (5) years.
11. Smit Shah [DIN: 10362876]	16-01-2024	Regularized as Independent Director for a period of Five (5) years.
12. Jugal Rajendrakumar Dave [DIN: 07895716]	30-10-2023	Resigned as Independent Director of the Company
13. Dhaval Parekh	27-01-2024	Appointed as Company Secretary & Compliance Officer
14. Jayesh Laxmanbhai Bhavsar	30-10-2023	Resigned from the post of Company Secretary & Compliance Officer

NUMBER OF BOARD MEETINGS AND ATTENDANCE:

During the year 2023-24, the Board of Directors met 12 times, viz. 01-04-2023, 12-04-2023, 10-05-2023, 28-08-2023, 17-10-2023, 30-10-2023, 04-11-2023, 21-12-2023, 27-01-2024, 14-02-2024, 15-02-2024 and 12-03-2024.

The Composition of Board of directors and the details of meetings attended by the members during the year are given below.

Name of Director	Category	No. of Board Meetings Held & Entitled to Attend	No. of Board Meetings Attended
Mr. Jayesh Chinubhai Shah	Chairman & Managing Director	12	12
Mr. Rupalben Jayeshkumar Shah	Whole time Director	12	12
Mr. Preet Kuriya	Independent & Non-Executive Director	12	12
Mr. Smit Shah	Independent & Non-Executive Director	6	6
Ms. Pooja Jadiya	Independent & Non-Executive Director	8	8
Mr. Meet Shah	Independent & Non-Executive Director	7	7
Mr. Manish Jain	Independent & Non-Executive Director	5	5
Mr. Nirav Shah	Independent & Non-Executive Director	5	5
Mr. Jugal Dave	Independent & Non-Executive Director	6	6

In pursuant to provisions of Section 203 of the Companies Act, 2013 read with the applicable rules and other applicable provisions of the Companies Act, 2013, the designated Key Managerial Personnel (KMP) of the Company as on 31st March, 2024 are as follows:

Name of KMP	Category and Designation
Mr. Jayesh Chinubhai Shah	Chairman & Managing Director
Mr. Rupalben Jayeshkumar Shah	Wholetime Director
Mr. Dhaval Parekh	Company Secretary and Compliance Officer

Profile of Directors being Re-appointed

As required under Regulation 36(3) of the SEBI (LODR) Regulations, 2015, particulars of Directors seeking appointment/ re-appointment at the ensuing Annual General Meeting are annexed to this notice convening 15th Annual General Meeting.

None of the Directors of the Company is disqualified for being re-appointed as Director as specified in Section 164 (2) of the Companies Act, 2013.

DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:

The provisions of Section 135 of the Companies Act, 2013, in respect Corporate Social Responsibility are not applicable to the company for financial year 2023-24, however as the net profits of the company is more than five crore for financial year 2023-24, the provisions of Section 135 of the Companies Act, 2013, in respect Corporate Social Responsibility, will be applicable to the company from financial year 2024-25, in accordance with the same, board has already formed Corporate Social Responsibility Committee and adopted CSR Policy and the same has been placed on companies website.

CORPORATE GOVERNANCE:

In terms of Regulations 34 read with Schedule V of SEBI (LODR) Regulations, a report on Corporate Governance for the year ended March 31, 2024 has been prepared and annexed as "Annexure II" to this Report. The Companys Secretarial Auditor has issued a Certificate on Corporate Governance, which is appended to the Corporate Governance Report.

DISQUALIFICATIONS OF DIRECTORS:

During the financial year 2023-24 under review the Company has received Form DIR-8 from all Directors as required under the provisions of Section 164(2) of the Companies Act, 2013 read with Companies (Appointment and Qualification of Directors) Rules, 2014 that none of the Directors of your Company is disqualified; to hold office as director disqualified as per provision of Section 164(2) of the Companies Act, 2013 and debarred from holding the office of a Director pursuant to any order of the SEBI or any such authority in terms of SEBIs Circular No. LIST/COMP/14/2018-19 dated 20th June 2018 on the subject "Enforcement of SEBI orders regarding appointment of Directors by Listed Companies".

The Directors of the Company have made necessary disclosures, as required under various provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

All the directors of the company are non- disqualified and certificate for the same from the practicing Company Secretary in annexed as "Annexure III".

DETAILS OF HOLDING, SUBSIDIARY AND ASSOCIATES

The Company does not have any holding, subsidiary and associate Company during the period of Reporting.

AUDITORS:

1. STATUTORY AUDITORS:

M/s Bhagat & Co (Firm Registration No 127250W), Chartered Accountants, Ahmedabad has resigned as Statutory Auditors of the Company with effect from 14th February 2024. Further M/s. J.S.SHAH & CO (FRN: 132059W), Chartered Accountants has been appointed as statutory auditors of the company with effect from 12th March 2024. As required under Regulation 33(d) of SEBI(LODR) Regulations, 2015 the Auditors have confirmed that they hold a valid certificate issued by the Peer Review Board of the Institute of Chartered Accountants of India.

2. SECRETARIAL AUDITOR:

The Board of directors pursuant to Section 204 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, has appointed M/s. Nirav Shah & Associates (CP. No. 27102), Practicing Company Secretary, Ahmedabad as Secretarial Auditor of the Company to conduct the Secretarial Audit as per the provisions of the said Act for the Financial Year 2023-24.

A Secretarial Audit Report for the Financial Year 2023-24 is annexed herewith as "Annexure-IV" in Form MR-3. There are no adverse observations in the Secretarial Audit Report which call for explanation.

3. INTERNAL AUDITOR

The Board of directors has appointed M/s. Dipesh Chokshi & Co., Chartered Accountants, Ahmedabad as the internal auditor of the company. The Internal Auditor conducts the internal audit of the functions and operations of the Company and reports to the Audit Committee and Board from time to time.

4. COST AUDITORS AND THEIR REPORT:

As per provision of section 148(3) of Companies Act, 2013 and rule 6(2) of Companies (Cost records and audit) Rules, 2014, the company is not required to appoint a cost auditor to maintain / audit the cost records of the company for cost audit report.

REVIEW OF AUDITORS REPORT AND SECRETARIAL AUDITORS REPORT:

There are no qualifications, reservations or adverse remarks made by Statutory Auditors and by Secretarial Auditors.

REPORTING OF FRAUDS BY AUDITORS:

During the year under review, neither the Statutory nor the Secretarial Auditors has reported to the Audit Committee under Section 143(12) of the Companies Act, 2013 any instances of fraud committed against the Company by its officers or employees, the details of which would need to be mentioned in the Boards Report.

SECRETARIAL STANDARD:

Your Directors states that they have devised proper systems to ensure compliance with the Secretarial Standards and that such system are adequate and operating effectively.

INTERNAL CONTROLS AND THEIR ADEQUACY:

The Company implemented suitable controls to ensure its operational, compliance and reporting objectives. The Company has adequate policies and procedures in place for its current size as well as the future growing needs. These policies and procedures play a pivotal role in the deployment of the internal controls. They are regularly reviewed to ensure both relevance and comprehensiveness and compliance is ingrained into the management review process.

Adequacy of controls of the key processes is also being reviewed by the Internal Audit team. Suggestions to further strengthen the process are shared with the process owners and changes are suitably made. Significant findings, along with management response and status of action plans are also periodically shared with and reviewed by the Audit Committee. It ensures adequate internal financial control exist in design and operation.

M/s. Dipesh Chokshi & Co. Chartered Accountants, Ahmedabad (ICAI Firm Registration No.114533W) is the internal auditor of the Company, who conducts internal audit and submit half yearly/yearly reports to the Audit Committee. The Internal Audit is processed to design to review the adequacy of internal control checks in the system and covers all significant areas of the Companys operations. The Audit Committee reviews the effectiveness of the Companys internal control system.

INTERNAL FINANCIAL CONTROLS

The Company has adequate internal controls and checks in commensurate with its activities. The Board has adopted the policies and procedures for ensuring the orderly and efficient conduct of its business, including adherence to the Companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable Financial disclosures.

ANNUAL RETURN:

The Annual Return of the Company as on March 31, 2024 will be available on the Companys website i.e. www.laxmilifestyle.co.in.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

Loans, Guarantees and Investments covered under Section 186 of the Companies Act, 2013 from the part of the notes to the Financial Statements provided in this Annual Report.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH THE RELATED PARTIES

All related party transactions that were entered into during the year under the review were on an arms length basis and were in the ordinary course of business. There are no materially significant related party transactions made by the Company which may have a potential conflict with the interest of the Company at large. Your Directors draw your attention to related parties transactions entered as per section 188 of the companies during the year as are detailed in "Annexure-V" attached to this report.

RISK MANAGEMENT

The Company has established a well-defined process of risk management wherein the identification, analysis and assessment of the various risks, measuring of the probable impact of such risks, formulation of risk mitigation strategy and implementation of the same takes place in a structured manner. Though the various risks associated with the business cannot be eliminated completely, all efforts are made to minimize the impact of such risks on the operations of the Company. Necessary internal control systems are also put in place by the Company on various activities across the board to ensure that business operations are directed towards attaining the stated organizational objectives with optimum utilization of the resources. The Company, through its risk management process, aims to contain the risks within its appetite. There are no risks which in the opinion of the Board threaten the existence of the Company.

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

Information in accordance with the provisions of Section 134(3) (m) of the Companies Act, 2013, read with Rule 8 of the Companies (Accounts) Rules, 2014, regarding conservation of energy, technology absorption and foreign exchange earnings and outgo are under:

CONSERVATION OF ENERGY:

Energy conservation is very important for the company and therefore energy conservation measures are undertaken wherever practicable in its plant and attached facilities. The Company is making every effort to ensure the optimal use of energy, avoid waste and conserve energy by using energy efficient equipments with latest technologies.

Particulars	F.Y. 2023-24 (Amount in Rs.)
Fuels	Rs. 7413291 /-
Power /Electricity	Rs. 2314030 /-

TECHNOLOGY ABSORPTION:

Your Company firmly believes that adoption and use of technology is a fundamental business requirement for carrying out business effectively and efficiently. While the industry is labour intensive, we believe that mechanization of development through technological innovations is the way to address the huge demand supply gap in the industry. We are constantly upgrading our technology to reduce costs and achieve economies of scale. Innovation and focus of continuously launching a new offering drive differentiation and creating value has become a norm for the Industry, Thus a robust focus on developing new features and technology solutions to capture the consumers imagination and fuel the desire for enhanced experiences continues to be critical for Organizations.

FOREIGN EXCHANGE EARNINGS AND OUTGO:

The foreign exchange earnings and out flow during the period under review as follows:

Particulars	2023-24	2022-23
Total foreign exchange outgo	-	-
Total foreign exchange inflow	-	-

TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND:

The Company does not have any amount to its credit as required under the provision of section 124 of the Companies Act, 2013 to be transferred to the IEPF Account.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Act, with respect to Director Responsibility Statement, the Board of Directors, to the best of its knowledge and ability, confirm that:

(a) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(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 and of the profit of the Company for that period;

(c) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 2013 and Rules made there under for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) The directors had prepared the annual accounts on a going concern basis;

(e) 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.

(f) 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.

PARTICULARS OF EMPLOYEES:

During the year under review, there was no employee who has drawn remuneration in excess of the limits set out under section 197 (12) of the Companies Act, 2013 read with rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and 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 attached as "Annexure VI".

MANAGERIAL REMUNERATION

Disclosures of the ratio of the remuneration of each director to the median employees remuneration and other details as required pursuant to Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended from time to time, are provided as "Annexure VII".

SEXUAL HARASSMENT:

The Company has complied with the provisions relating to the Constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. There was no case filed or registered with the Committee during the year, under the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013. Further Company ensures that there is a healthy and safe environment for every women employee at the workplace and made the necessary policies for safe and secure environment for women employee. Committee formed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 is as under

Members	Category
Mrs. Rupalben Jayeshbhai Shah	Chairperson
Mr. Kshamaben Pravinkumar Shah	Member
Ms. Pooja Jadiya	Member
Mr. Preet Kuriya	Member

POLICY OF PRESERVATION OF DOCUMENTS:

Pursuant to the Regulation 9 of SEBI (LODR), 2015 the Company has maintained the policy of preservation of documents to keep the documents preserve as per Regulation 9 (a) & 9 (b) of SEBI (LODR), 2015.

STATEMENT OF DEVIATION OR VARIATION:

There is no deviation in the use of proceeds from the objects stated in the offer document of IPO and there is no variation between projected utilization of funds made by it in its offer document of IPO pursuant to regulation 32 of SEBI (Listing Obligations and Disclosure Requirements, 2015.

The Board hereby confirms the entire utilization of the proceeds as stated above.

EVENT BASED DISCLOSURES:

The Company has not issued any shares with differential voting rights or Sweat Equity shares or shares under ESOP. The Company has not provided any money to its employees for purchase of its own shares hence the company has nothing report in respect of Rule 4(4), Rule (13), Rule 12(9) and Rule 16 of the Companies (Share Capital & Debentures) Rules, 2014.

LISTING:

The Equity Shares of the Company were listed on SME Platform of National Stock Exchange of India Limited (NSE Emerge) on 16th April 2020. The Company got migrated to Main Board of National Stock Exchange of India on 10th November 2023. The Company is regular in payment of Annual Listing Fees. The Company has paid Listing fees up to the year 2023-24.

DECLARATION OF INDEPENDENCE:

Your Company has received declarations from all the Independent Directors under Section 149(7) of the Companies Act, 2013 confirming that they meet the criteria of independence as prescribed under Section 149(6) of Companies Act, 2013 read with the Schedules and Rules issued there under as well as under Regulation 16(b) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The Financial statements are prepared under the historical cost convention and on accrual basis in accordance with applicable accounting standards referred to in section 133 read with rule 7 of the Companies (Accounts) rules, 2014.

REPORTING ON SUSTAINABILITY

We are continuously striving to promote better and more effective sustainability policy and practices. In order to ensure transparent communication of our sustainability efforts to all our stakeholders we have made conscious efforts through technology innovation and effective communication and transparency.

DEPOSITS FROM PUBLIC

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on deposits from public was outstanding as on the date of the balance sheet as per section 73 and 76 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014.

DEMATERIALISATION OF SHARES:

All the equity shares are in dematerialized form, which represents 100% of the total paid-up capital of the Company. The Company ISIN No. is INE258Y01016 and Registrar and Share Transfer Agent is KFin Technologies Limited (Formerly known as KFin Technologies Private Limited).

HUMAN RESOURCES AND INDUSTRIAL RELATIONS

The Company is pleased to report that during the year under reporting, the industrial relations were cordial.

ACKNOWLEDGEMENT:

Your Directors take this opportunity to place on record the appreciation of the valuable contribution and dedication shown by the employees of the Company, RTA, Auditors and Practicing Company Secretary which have contributed to the successful management of the Companys affairs.

The Directors also take this opportunity to thank all the stakeholders, Investors, Clients, Banks, Government, Regulatory Authorities and Stock Exchange for their continued support.

Registered Office:	By Order of the Board
Laxmi House, Opp. Bandharano	For Laxmi Goldorna House Limited
Khancho, M. G. Haveli Road,
Manekchowk, Ahmedabad -
380001, Gujarat, India	Sd/-	Sd/-
	Mr. Jayesh Chinubhai Shah	Rupalben Jayeshkumar Shah
	Managing Director	Whole Time Director
	DIN: 02479665	DIN: 02479662
Date: 03rd October 2024
Place: Ahmedabad, Gujarat