Market & News

To

The Members,

Aspira Pathlab & Diagnostics Limited

Your Directors take pleasure in presenting 52 nd Annual Report on the business and operations of the Company along with the Audited Financial Statements for the year ended March 31, 2025.

FINANCIAL RESULTS

The key highlights of the Audited Financial Statements of the Company's for the financial year ended March 31, 2025 in comparison with the previous financial year ended March 31, 2024 are summarized below summarized below:

(Rs. In Lakhs) Particulars	Standalone		Consolidated
	2024-25	2023-24	2024-25	2023-24
Revenue from Operations	2,199.90	1320.49	2,199.90	-
Other Income	38.89	42.11	38.89	-
Total Income	2,238.79	1,362.60	2,238.79
Depreciation and amortisation expenses	149.38	153.88	149.38	-
Other Expenses	1882.15	1475.94	1882.15	-
Total Expenses	2031.53	1629.82	2031.53
Profit/(Loss) before exceptional items and tax	207.26	(267.22)	207.26
Exceptional items	0.04	6.51	-	-
Profit/(Loss) before tax				-
Tax expense/(credit)	207.30	(2.60)	202.26	-
Profit/(Loss) before exceptional items and tax	207.30	(2.60)	202.31	-

CHANGE IN NATURE OF BUSINESS

The Company is primarily engaged in the activities of pathology and related healthcare services. There was no change in nature of the business of the Company, during the year under review.

FINANCIAL PERFORMANCE

During the year under review the total income of the Company is Rs. 2,199.90 lakhs as compared to Rs. 1362.60 lakhs in previous year, representing profit of Rs. 207.30 Lakhs in the current year.

DIVIDEND

Considering long term prospectus of the Company, the Directors of your Company do not recommend any dividend for the Financial year 2024-25

TRANSFER TO RESERVE

Your Directors do not propose to transfer any amount to General Reserves for the financial year 2024-25.

SHARE CAPITAL

During the Financial Year 2024-25., there was no change in the authorized, subscribed, issued and paid-up share capital of the Company.

SUBSIDIARY/1OINT VENTURES/ ASSOCIATE COMPANIES

As on April 02, 2024 your Company had floated an associate LLP i.e "Aspira DNA Diagnostics Gujarat LLP'. The contribution and composition of the LLP are as follows:

Name	Designation	% of Contribution	Capital in Indian Rupees
1 Mrs. Meenakshi Mittal	Designated Partner	25%	6,50,000/-
2 Mrs. Nikta Modani	Designated Partner	25%	6,50,000/-
3 Mr. Pankaj Shah	Designated Partner & Nominee of M/s. Aspira Pathlab & Diagnostics Limited	50%	13,00,000/-
Total		100%	26,00,000/-

However as on May 16, 2025 Board members had decided to takeover 100% Assets and Liabilities of Aspira DNA Diagnostics Gujarat LLP by entering into a business transfer agreement and strike off the LLP as the designated partners of LLP are unwilling to carry its business in future.

Your Company does not have any Subsidiary or Joint Ventures

Pursuant to the provisions of Section 129(3) of the Act, a statement containing the salient features of financial statements of the Company's Associate in Form No. AOC-1 is attached to the financial statements of the Company as Annexure-I.

DEPOSITS

During the year under review, your Company has not accepted any deposit from the public falling within the ambit of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION

There has been no material changes and commitments, since the close of the financial year i.e. March, 31 2025 till the date of signing of this Directors' Report, affecting the financial position of your Company.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

The Company has a Related Party Transaction Policy in place which is in accordance with the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The said Policy is available on the Company's website which can be accessed through the following weblink:

All the Related Party Transactions entered into during the year under review, were entered in the Ordinary course of business and on an arm's length basis. There were no materially significant Related Party Transactions made by the Company with its Promoters, Directors, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the Company at large.

Further, since the transactions with the related parties were in the ordinary course of business and at arm's length pricing, not material in nature and in accordance with the Related Party Transactions Policy, the particulars of such

transactions with the related parties are not required to be reported by the Company in E Form AOC-2.

All the Related Party Transactions are reviewed by the Audit Committee and the Board on a quarterly basis.

The members may refer to note no. 38 to the financial statements, which set out Related Party Disclosures

PARTICULARS OF LOANS, INVESTMENT AND GUARANTEES BY THE COMPANY

In terms of the provisions of section 186 of the Companies Act, 2013 read with Companies (Meeting of Board and its Powers) Rules, 2014 and Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, loans, guarantees and investments given/made by the Company as on March 31, 2025 are mentioned in no.6 to the financial statements of the Company.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

The disclosures pertaining to remuneration and other details as required under 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 the prescribed format and annexed herewith as Annexure - II to this Annual Report.

The statement containing the names of top ten employees in terms of remuneration drawn and the particulars of employees as required under 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, is available for inspection and any Member interested in obtaining a copy of the same may write to the Company Secretary/ Compliance Officer of the Company.

DIRECTORS RETIRING BY ROTATION

Pursuant to the provisions of Section 152 of the Companies Act, 2013 read with the relevant rules made thereunder, out of the total Directors, two-third of the Directors shall retire by rotation every year and if eligible, offer themselves for reappointment at the AGM. Mr. Nikunj Mange (DIN: 08489442) Executive Director of the Company is liable to retire by rotation and being eligible, he has offered himself for re-appointment. The Board of Directors recommended his re-appointment in their meeting held on August 12, 2025 and the same is being placed before the Members for their approval at the ensuing 52 nd Annual General Meeting of the Company.

Pursuant to Regulation 36(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") read with Secretarial Standards - 2 on General Meetings, a brief profile of Mr. Nikunj Mange is provided as an Annexure-1 of the Notice of 52 nd Annual General Meeting.

DECLARATION OF INDEPENDENCE FROM INDEPENDENT DIRECTORS

Your Company has received declarations from all the Independent Directors confirming that they meet the criteria of independence as prescribed under regulation 16(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the same has been taken on record by Company.

There has been no change in the circumstances affecting their status as Independent Directors of the Company.

During the year under review, the Non-Executive Directors of the Company had no pecuniary relationships or transactions with the Company, other than receiving the sitting fees

a) APPOINTMENT/ RESGINATION/ REDESIGNATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL I. DURING THE YEAR UNDER REVIEW Event	Particulars
Resignation	Resignation of Mr. Avinash Chander Mahajan (DIN:00041661) as Non-executive and Independent Director of the Company w.e.f January 22, 2025

ANNUAL REPORT 2024-2025

II. AFTER THE COMPLETION OF THE YEAR UNDER REVIEW Event	Particulars
Re-appointment	i) The Nomination and remuneration committee and Board members in its meeting held on May 16, 2025 considered the re-appointment of Dr. Pankaj J. Shah (DIN:02836324) as Managing Director of the Company for a period of three (3) years i.e from August 01, 2025 to July 31, 2028 subject to members approval.
	ii) The members of the Company by Postal Ballot via special resolution on July 10, 2025 approved the re-appointment of Dr. Pankaj J. Shah (DIN:02836324) as Managing Director of the Company for a period of three (3) years i.e from August 01, 2025 to July 31, 2028

KEY MANAGERIAL PERSONNEL (KMP)

In accordance with the provisions of Sections 2(51), 203 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the following are/were the Key Managerial Personnel of the Company as on March 31,2025:

1. Mr. Pankaj Shah- Chief Executive Officer

2. Mr. Balkrishna Talawadekar- Chief Financial Officer

3. Ms. Krupali Shah- Company Secretary

PERFORMANCE EVALUATION

Pursuant to the applicable provisions of the Companies Act, 2013 and Regulations 17(10), 25(4) and of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors have carried out annual performance Evaluation of:

i. Their own performance as a whole;

ii. Individual Directors Performance; and

iii. Performance of all Committees of the Board for the Financial Year 2024-25

In terms of the requirements of Schedule IV of the Act, a separate meeting of Independent Directors of the Company was held on March 22, 2025. In which the performance of the Board as a Whole and of its Committees was evaluated by the Board through a structured questionnaire which covered various aspects such as the composition, quality and performance of the Board, meetings and procedures, contribution to Board processes, effectiveness of the functions allocated, relationship with Management, professional development, adequacy, appropriateness, and timeliness of information etc.

Taking into consideration the responses received from the Individual Directors the performance of the Board and its Committees was evaluated. The Directors expressed their satisfaction with the evaluation process.

NOMINATION AND REMUNERATION POLICY

The brief on the policy of nomination and remuneration and other matters provided in Section 178(3) of the Act have been disclosed in the Corporate Governance Report, which forms part of the Annual Report of the Company. The Nomination and Remuneration Policy is also available on the website of the Company and can be accessed through the following web link:

BOARD MEETINGS

During the year under the review, the Board of Directors met Four (4) times the details of which are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under

the Companies Act, 2013.The dates of the Board Meeting are as follows:

• May 28, 2024

• August 13, 2024

• November 11, 2024 and

• February 07, 2025

COMMITTEES OF THE BOARD

The Board of Directors of your Company have formed various Committees, as per the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and as a part of good corporate governance practices. The terms of reference and the constitution of those Committees are in compliance with the applicable laws

In order to ensure focused attention on business, better governance and accountability, the Board has constituted the following committees:

a) Audit Committee;

b) Nomination and Remuneration Committee;

c) Stakeholder Relationship Committee

The details with respect to the Composition, terms of reference, etc. of the aforesaid committees are given in details in the "Corporate Governance Report" which is presented in a separate section and forms part of the Annual Report of the Company.

AUDIT COMMITTEE

The Audit Committee is constituted as per Regulation 18 of the Listing Regulations read with Section 177 of the Companies Act, 2013. Kindly refer section on Corporate Governance, under head 'Audit Committee' for matters relating to constitution, meetings and functions of this Committee.

NOMINATION AND REMUNERATION COMMITTEE'

The Nomination and Remuneration Committee is constituted in compliance with the requirements of Regulation 19 of the Listing Regulations read with Section 178 of the Companies Act, 2013. The details pertaining to its constitution, meetings, terms of reference etc. is provided under Corporate Governance section under head 'Nomination & Remuneration Committee'.

STAKEHOLDER RELATIONSHIP COMMITTEE

The Stakeholders' Relationship Committee of the Company is constituted in line with the provisions of Regulation 20 of the Listing Regulations read with Section 178(5) of the Companies Act, 2013.The details pertaining to its constitution, meetings, terms of reference etc. is briefly provided in the Corporate Governance Report under the head 'Stakeholders' Relationship Committee'.

STATUTORY AUDITORS AND AUDITORS REPORT

The Members of the Company in their 51 st Annual General Meeting ("AGM") on September 27, 2024, had appointed M/s. Sarda Soni Associates LLP, Chartered Accountants, (Firm Registration No. 117235W) as the Statutory Auditors of the Company to hold office for their first term of five (5) years i.e. from the conclusion of 51 st AGM till the conclusion of 56 th AGM of the Company.

M/s. Sarda Soni Associates LLP, Chartered Accountants, Statutory Auditors have confirmed that they have not been disqualified to act as Statutory Auditors of the Company and that their continuation is within the ceiling limit as prescribed under section 139 and 141 of the Companies Act, 2013 and related rules thereto

Further, the Statutory Auditors of the Company have not reported any fraud as specified under the second proviso of Section 143(12) of the Companies Act, 2013 (including any statutory modification(s) or re- enactment(s) for the

time being in force).

The Auditors' Report for the Financial Year ended March 31, 2025, is issued with unmodified opinion and does not contain any qualification, reservation or adverse remarks. The Auditors' Report being self-explanatory does not call for any further comments from the Board of Directors.

SECRETARIAL AUDITOR AND SECRETARIAL AUDIT REPORT

In compliance with the provisions of Section 204 and other applicable provisions of the Companies Act, 2013, read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, and Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, the Board of Directors, based on the recommendation of the Audit Committee, at its meeting held on May 16, 2025, approved the appointment of M/s. Nilesh A. Pradhan & Co. LLP, Practicing Company Secretaries, as the Secretarial Auditor of the Company for a period of five (5) consecutive financial years commencing from April 01, 2025 to March, 31 2030, subject to the approval of the shareholders at the ensuing General Meeting.

The Company has obtained a consent and eligibility letter from the firm, confirming its compliance with the eligibility criteria prescribed under the Companies Act, 2013 and SEBI LODR Regulations. The firm holds a valid Peer Review Certificate issued by the Institute of Company Secretaries of India (ICSI). They have also confirmed that they are not disqualified from being appointed and have no conflict of interest. Further, they have declared that they have not undertaken any prohibited non secretarial audit assignments for the Company, in compliance with Section 204 of the Companies Act, 2013 and the rules made thereunder, read with Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions. Further, the firm has the necessary qualifications, expertise, and experience to carry out the Secretarial Audit and to issue the Annual Secretarial Compliance Report in accordance with applicable laws.

After careful evaluation of the firm's professional competence, independence, and track record, the Audit Committee and the Board are of the view that M/s. Nilesh A. Pradhan & Co. LLP is well-suited for the said appointment.

The Secretarial Audit Report for the Financial Year ended March 31, 2025, as issued by CS Prajakta V Padhye, Practicing Company Secretary, Partner of M/s. Nilesh A. Pradhan & Co., LLP (Membership No. FCS 7478; CP No 7891) in Form MR-3 is annexed to the Board report as Annexure - III which is self-explanatory and does not contain any qualification, reservation or adverse remark.

INTERNAL AUDITOR

In compliance with the provisions of Section 138 of the Companies Act, 2013 read with rule 13 of Companies (Accounts) Rules, 2014 the Board of Directors on the recommendation of Audit Committee has re-appointed M/s. Vishal J Bhanushali, Chartered Accountants (FRN:145806W), Chartered Accountants as Internal Auditors of your Company for financial year 2025-26.

The Audit Committee in its quarterly meetings reviews the internal audit and internal control systems. The Company's internal controls commensurate with the size and operations of the business. Continuous internal monitoring mechanism ensures timely identification and redressal of issues.

DIRECTOR'S RESPONSIBILITY STATEMENT

Based on the framework of Internal Financial Controls and compliance systems established and maintained by the Company, the work performed by the Internal Auditors, Statutory Auditors and Secretarial Auditors, including the Audit of Internal Financial Controls over financial reporting by the Statutory Auditors and the reviews performed by Management and the relevant Board Committees, including the Audit Committee, the Board is of the opinion that the Company's internal financial controls were adequate and effective during Financial Year 2024-25

In accordance with the requirement of Section 134(5) of the Companies Act, 2013, in relation to the audited financial statements of the Company for the year ended March 31, 2025, the Board of Directors of the Company confirm that: To the best of their knowledge and belief and according to the information and explanation obtained by them, your Directors make the following statements in terms of Section 134(3)(c) read with Section 134(5) of the Companies Act,

2013

a) that in the preparation of the annual accounts for the financial year ended March, 31 2025 the Indian Accounting Standards (Ind AS) have been followed and there are no material departures

b) such accounting policies have been selected and applied consistently and the Directors 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 as on March 31, 2025 and of the profit of the Company for the year ended on that date;

c) proper and sufficient care is taken 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 material fraud and other irregularities;

d) the annual accounts of the Company have been prepared on a going concern basis;

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

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

WHISTLE BLOWER MECHANISM

Your Company has adopted and established a vigil mechanism named "Whistle Blower Policy (WBP)" for directors and employees to report genuine concerns and to deal with instance of fraud and mismanagement, if any {in compliance with the provisions of Section 177 (10) of the Companies Act, 2013 ('the Act') and Regulation 22 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015).

The Policy provides for adequate safeguards against victimization of employees, who avail of the mechanism and provides to employees' direct access to the Chairman of the Audit Committee. It is affirmed that no personnel of the Company have been denied access to the Audit Committee. The details of the Whistle Blower Policy are explained in the Corporate Governance Report and also available on your Company's website at the below link

INSTANCES OF FRAUD, IF ANY, REPORTED BY AUDITORS

During the year under review, Auditors have not reported any instances of frauds committed in your Company by its Officers or Employees to the Audit Committee and / or to the Board under Section 143(12) of the Companies Act, 2013.

PREVENTION OF INSIDER TRADING

In order to restrict communication of Unpublished Price Sensitive Information (UPSI), the Company has adopted Code of Fair Disclosure of Unpublished Price Sensitive Information in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The said Code is available on the website of the Company at the Web link:

Further the Company has adopted Structured Digital Database (SDD) in the Company as per the Regulation 3(5) and 3(6) of SEBI (PIT) Regulations, 2015 and timely freezing the PAN of Designated Personnel's to avoid the insider tradings.

The Company Secretary of the Company is the Compliance Officer for monitoring adherence to the said Regulations and in absence of Company Secretary, Chief Financial Officer act as Compliance Officer for the same.

MANAGEMENT DISUSSION AND ANALYSIS

Pursuant to Regulation 34 read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ('Listing Regulations'), a detailed review of operations, performance and future outlook of your Company and its business is given in the Management Discussion and Analysis (MDA) which forms part of this Report. The MDA report is attached herewith as Annexure-IV to this Annual Report.

CORPORATE GOVERNANCE

Report on Corporate Governance and Certificate by the Secretarial Auditors of the Company regarding compliance of the conditions of Corporate Governance as stipulated in Part C of Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, are provided ina separate section and forms part of the Annual Report of the Company.

CODE OF CONDUCT

Pursuant to Regulations 17(5) of the SEBI (LODR) Regulation, 2015, Your Company has formulated Code of Conduct for its Board of Directors and Senior Management, specifying duties of a Board Members and Senior Management Personnel as laid down in the Companies Act, 2013 and the same has been placed on Company's website at the below link

RISK MANAGEMENT COMMITTEE

Pursuant to Section 134 of the Companies Act, 2013, the Company has a risk management policy in place for identification of key risks to its business objectives, impact assessment, risk analysis, risk evaluation, risk reporting and disclosures, risk mitigation and monitoring, and integration with strategy and business planning.

Pursuant to Regulation 21(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 the constitution of a Risk Management Committee is not applicable to the Company.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

During the year under review your company has not qualified the criteria of Section 135 of the Companies Act, 2013 to constitute a CSR committee and to spend in CSR activity. However, your company assure that it will comply with Section 135 when the section will be applicable on company

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

Your Company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

The details relating to the number of complaints received and disposed off is given below:

Sr No.	Particulars
1.	Number of complaints of sexual harassment received in the year	Nil
2.	Number of complaints disposed off during the year	Nil
3.	Number of cases pending for more than ninety days	Nil

NUMBER OF EMPLOYEES AS ON THE CLOSURE OF FINANCIAL YEAR 2024-25 Sr No.	Particulars
1.	Female	63
2.	Male	78
3.	Transgender	Nil

DISCLOSURE RELATING TO COMPLIANCE OF THE PROVISIONS OF MATERNITY BENEFIT ACT 1961.

During the year under the review, your Company has complied with the provisions of Maternity Benefit Act 1961.

ANNUAL RETURN

In accordance with Sections 134(3)(a) & 92(3) of the Companies Act, 2013 read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014, an extract of Annual Return of the Company for the Financial Year 2024-25 shall be available on the website of the Company a , under the section 'Investor Corner'.

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

The information relating to the conservation of energy, technology absorption foreign exchange earnings and outgo under section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts)Rules, 2014 is appended as Annexure- V to this report.

GREEN INTITATIVE

i) In line with the applicable circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India, the Notice of the AGM along with the Annual Report for the financial year 2024-25 is being sent electronically to those Members whose email addresses are registered with the Company, Depositories, or Registrar and Transfer Agent (RTA) unless a member has specifically requested for a physical copy of the same.

ii) For Members whose email addresses are not registered, the Company/RTA will dispatch a physical letter containing the web link and exact path to access the Notice of AGM and the Annual Report. The said documents are also available on the Company's website at www.aspiradiagnostics.com/investor-relation/ and can be accessed on the websites of the Stock Exchange (BSE Limited) at www.bseindia.com as well as on the website of NSDL at www.evoting.nsdl.com

INTERNAL FINANCIAL CONTROLS

Your Company has in place an adequate internal financial control framework with reference to financial and operating controls thereby ensuring orderly and efficient conduct of its business, including adherence to the Company's policies, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of accounting records, and timely preparation of reliable financial information.

During Financial Year 2024-25, such controls were tested and no reportable material weakness in the design or operation was observed. The Directors have in the Directors Responsibility Statement confirmed the same to this effect.

The Internal Financial Controls with reference to financial statements as designed and implemented by the Company are adequate. During the year under review, no material or serious observations has been received from the Auditor of the Company for inefficiency or inadequacy of such controls.

DISCLOSURE RELATED TO INSOLVENCY AND BANKRUPTCY

During the financial year under review, there is no application made and/or no proceeding pending under the Insolvency and Bankruptcy Code, 2016.

DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME SETTLEMENT AND VALUATION WHILE AVAILING LOAN FROM BANKS AND FINANCIAL INSTITUTIONS

During the year under review, there has been no one-time settlement of Loans taken from Banks and Financial Institutions.

SIGNIFICANT/MATERIAL ORDERS PASSED BY THE REGULATORS

Pursuant to the requirement of Section 134(3)(q) of the Companies Act, 2013 read with Rule 8(5)(vii) of the Companies (Accounts) Rules, 2014, it is confirmed that during the Financial Year under review, there are no significant/material orders passed by the Regulators or Courts or Tribunals impacting the going concern status of

your Company and its operations in future. SECRETARIAL STANDARDS

Your Directors confirm that the Secretarial Standards issued by the Institute of Company Secretaries of India, have been complied with. Your Company has duly complied with Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) issued by the Institute of Company Secretaries of India and approved by the Central Government under Section 118(10) of the Companies Act, 2013.

ACKNOWLEDGEMENT

Your Company has maintained healthy, cordial and harmonious industrial relations at all levels. Your Directors place on record their deep appreciation to employees at all levels for their hard work, dedication and commitment.

The Board place on record its appreciation for the support and co-operation your Company has been receiving from its investors, customers, vendors, bankers, financial institutions, business associates, Central & State Government authorities, Regulatory authorities and Stock Exchanges. Your Board looks forward for the long-term future with confidence, optimisms and full of opportunities.

	For and on beha lf of the Board of Directors
	Aspira Path	lab & Diagnostics Limited
	Dr. Pankaj J Shah	Mr. Nikunj Mange
Date: August 12, 2025	Managing Director & CEO	Executive Director
Place: Mumbai	DIN :- 02836324	DIN: 08489442