To
The Members
MAMATA MACHINERY LIMITED
Dear Members,
It is with great pleasure that we present to you the Forty-seventh Annual Report along
with the audited financial statements of Mamata Machinery Limited ("the
Company") for the financial year ended March 31,2026. The consolidated performance of
the Company and its subsidiary has been referred to wherever required.
We are pleased to share that the year under review marks the Company's first full
financial year as a listed entity, following the successful Initial Public Offering (IPO)
and listing of our equity shares on BSE and NSE on December 27, 2024. The listing has
strengthened our capital base, broadened our stakeholder community, and enhanced our
visibility in the public domain. Throughout the year, we have remained focused on
upholding high standards of governance, transparency, and operational excellence.
We extend our sincere gratitude to our shareholders, employees, customers, bankers, and
advisors for their continued trust and support.
As we move forward, we remain committed to sustainable growth, innovation, and
long-term value creation, building on the strong foundation established in our first year
as a listed entity.
1. FINANCIAL RESULTS
The Company's performance for the financial year ended March 31,2026 is summarized
below:
Rs. In Lakhs
Particulars |
Standalone |
|
Consolidated |
|
|
2025-26 |
2024-25 |
2025-26 |
2024-25 |
Revenue from operations |
18,855.26 |
22,271.30 |
23,300.18 |
25,457.80 |
Other Income |
471.44 |
399.16 |
568.39 |
484.86 |
Total Income |
19,326.70 |
22,670.47 |
23,868.57 |
25,942.65 |
Profit before Finance cost, Depreciation & Amortization and tax
expenses |
2,066.43 |
4,823.47 |
2,785.02 |
5,942.54 |
Finance cost |
62.66 |
49.97 |
89.50 |
78.85 |
Depreciation |
309.28 |
04.95 |
430.01 |
331.20 |
Profit/(loss) before exceptional items and tax |
1,694.49 |
4,568.55 |
2,265.51 |
5,532.49 |
Exceptional Item |
305.81 |
0.00 |
305.81 |
0.00 |
Profit before Tax |
1,388.68 |
4,568.55 |
1,959.70 |
5,532.49 |
Tax Expense |
362.78 |
1,199.46 |
454.55 |
1,457.11 |
Profit after tax |
1,025.90 |
3,369.09 |
1,505.14 |
4,075.38 |
The detailed financial statements prepared in accordance with the relevant applicable
IND AS are annexed to this report and provide a comprehensive view of the Company's
financial performance.
2. OPERATING RESULTS & BUSINESS PERFORMANCE
On a consolidated basis, the Company recorded a decrease in revenue from operations by
8.48%, with revenue of Rs.23,300.18 lakhs during the year under review, as compared to
Rs.25,457.80 lakhs in the previous financial year. On a standalone basis, the operating
revenue of the Company decreased by 15.34% during the year, as compared to the previous
financial year.
On the consolidated front, the Company earned a Profit Before Tax (PBT) of Rs.1,959.70
lakhs, as compared to Rs.5,532.49 lakhs in the previous year, while the Profit After Tax
(PAT) decreased by 63.07% to Rs.1,505.14 lakhs.
On the standalone front, the Company earned a PBT of Rs.1,388.68 lakhs, as compared to
Rs.4,568.55 lakhs in the previous year, while the PAT decreased by 69.55% to Rs.1,025.90
lakhs.
Members are requested to refer to the Management Discussion and Analysis section,
forming part of this Annual Report, for a more detailed overview of the operating results
and business performance during the year.
3. PERFORMANCE REVIEW AND STATE OF AFFAIRS
The state of affairs of the Company for the financial year ended March 31,2026
highlights significant developments and performance parameters that reflect our growth
trajectory and market position. Key aspects include:
a. Performance Parameters
During the year under review, the Company reported a resilient performance in the
financial year ended March 31,2026 keeping the domestic momentum intact despite US tariff
headwinds. An overview of machines sold during the year on a consolidated basis are
presented below:
Sr. No. Category |
No. of Machines |
Total Value (in Rs. Lakhs) |
| 1 Extrusion/Co-extrusion |
6 |
3,389.88 |
| 2 Converting machines |
190 |
10,864.51 |
| 3 Packaging |
17 |
4,883.61 |
b. Exports:
On standalone basis, as on March 31,2026, the Company's exports
contributed Rs.10,325.54 Lakhs as compared to Rs.14,733.46 Lakhs in the previous year.
Accordingly, on consolidated basis the Company's exports contributed Rs.14,770.45 Lakhs as
compared to Rs.17,919.95 Lakhs in the previous year. Our international market presence has
been strengthened through strategic partnerships and entry into new geographic regions.
c. Exhibitions:
During the year under review, the Company showcased its products and
innovations at the following exhibitions:
Sr. Name of Exhibition (Year of No. Participation) |
Venue |
Purpose |
| 1. GAT Expo 2025 (April, 2025) |
India |
Brand visibility, customer engagement and industry networking |
| 2. Inter FoodTech 2025 (April 2025) |
Mumbai, India |
Showcase food processing and packaging Solutions and generate business
leads |
| 3. Plastasia 2025 (May, 2025) |
Bengaluru, India |
Promote extrusion and packaging machinery solutions |
| 4. RosUpask 2025 (June, 2025) |
Moscow, Russia |
Strengthen presence in the CIS Region and engage with existing and
prospective customers |
| 5. PackEx India 2025 (August 2025) |
Mumbai, India |
Showcase packaging technologies and strengthen domestic market presence |
| 6. Anuga Foodtec India 2025 (Augsut, 2025) |
Mumbai, India |
Expand reach within the food processing and packaging industry |
| 7. PACK EXPO Las Vegas 2025 (September 2025) |
Las Vegas, USA |
Expand market presence in North America and engage with global customers |
| 8. Plastics & Rubber Vietnam 2025 (September 2025) |
Ho Chi Minh City, Vietnam |
Explore opportunities in the Southeast Asian plastics and packaging
markets |
| 9. Speciality Films & Flexible Packaging Global Summit & Awards
2025 (September 2025) |
India |
Industry networking and market intelligence |
| 10. VietnamPlas 2025 (September 2025) |
Ho Chi Minh City, Vietnam |
Promote packaging and extrusion solutions in the Vietnam market |
| 11. K 2025 (October 2025) |
Dusseldorf, Germany |
Showcase latest technologies and strengthen global industry relationships |
| 12. Bharat Pack Expo 2025 (November 2025) |
India |
Increase visibility in the Indian packaging industry and generate new
business opportunities |
| 13. Plastics & Rubber Indonesia 2025 (November 2025) |
Jakarta, Indonesia |
Expand customer base and strengthen presence in Indonesia and ASEAN
markets |
| 14. Indusfood Manufacturing 2026 |
Greater Noida, India |
Engage with food manufacturing and packaging industry stakeholders |
| 15. Plastex Egypt (January 2026) |
Cario, Egypt |
Develop opportunities in the Middle east and African markets |
| 16. RUPLASTICA 2026 (January 2026) |
Moscow, Russia |
Strengthen presence in the Russian plastics and packaging sector |
| 17. PlastIndia 2026 (February 2026) |
New Delhi, India |
Showcase comprehensive product portfolio and strengthen customer
relationships |
| 18. ProdExpo 2026 (February 2026) |
Moscow, Russia |
Promote packaging solutions for the food and beverages industry |
| 19. Plast Alger 2026 (March 2026) |
Algiers, Algeria |
Explore opportunities in North African markets |
| 20. Propak East Africa 2026 (March 2026) |
Nairobi, Kenya |
Expand presence in East Africa's packaging and processing industries |
o These exhibitions have provided valuable opportunities for networking, market
research, and brand visibility to the Company.
o Participation in these events has not only enhanced our market presence but also
facilitated business development and customer engagement.
The Members are advised to refer to the separate section on Management Discussion and
Analysis, which is a part of this report, for a detailed understanding of the operating
results and business performance.
4. DIVIDEND
Pursuant to Regulation 43A of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR'), the Board of
Directors of the Company had formulated and adopted a Dividend Distribution Policy ('the
Policy'). The Policy is available on the Company's website: www.mamata.com.
The Board of Directors has recommended a dividend of ?0.50 per equity share of face
value ?10 each for the financial year 202526, subject to the approval of the shareholders
at the ensuing Annual General Meeting. The proposed dividend represents 5% of the face
value of the equity shares and would result in a cash outflow of approximately ?1.23
crore.
Pursuant to the Finance Act, 2020, dividend income is taxable in the hands of the
Members w.e.f. April 1,2020, and the Company is required to deduct tax at source from
dividend paid to the Members at prescribed rates as per the Income Tax Act, 1961.
5. DEPOSITS
In compliance with the provisions of Chapter V of the Companies Act, 2013 ("the
Act"), relating to acceptance of deposits by companies:
• Deposits from public: The Company has not accepted any deposits from the public
during the financial year under review.
• Deposits from Directors: There were no deposits accepted from directors or their
relatives during the financial year.
6. CORPORATE GOVERNANCE
Pursuant to the provisions of Regulation 34 of the SEBI (LODR) Regulations, report on
Corporate Governance along with the certificate from Practising Company Secretary
certifying compliance with conditions of corporate governance is annexed to this report as
Annexure - I.
7. TRANSFER TO RESERVES
During the year under review, the Company has not transferred any amounts to the
General Reserve.
8. CHANGES IN SHARE CAPITAL
The authorized and paid-up capital of the Company stand at Rs.300,000,000/- and
Rs.246,078,000/- respectively as on the date of this report.
During the financial year 2025-26, as there was no primary issuance of shares, there
was no change in the share capital.
9. MATERIAL CHANGES AND COMMITMENTS AND CHANGES IN THE NATURE OF ACTIVITY DURING THE
YEAR UNDER REVIEW
There are no material changes or commitments after March 31, 2026 till the date of this
report which may affect the financial position of the Company. There has been no change in
the nature of activity during the year under review.
10. SUBSIDIARIES, JOINT VENTURES & ASSOCIATE COMPANIES
The Company has one wholly owned Mamata Enterprises Inc., USA. There has been no
material change in the nature of business of the subsidiary.
The Company did not have any Associate or Joint Venture Company during the year under
review.
The policy for determining material subsidiary of the Company is available on the
website of Company at www.mamata.com/ investors.
11. CONSOLIDATED FINANCIAL STATEMENTS
The Consolidated financial statements of the Company and its subsidiary for the
financial year 2025-26 have been prepared in compliance with the applicable provisions of
the Companies Act, 2013 ("the Act") and as stipulated under Regulation 33 of
SEBI (LODR) as well as in accordance with the Indian Accounting Standards (IND-AS)
notified under the Companies Indian Accounting Standards) Rules, 2015. The audited
consolidated financial statements together with the Independent Auditors' Report thereon
form part of this Annual Report.
Pursuant to the provisions of Section 129(3) of the Companies Act, 2013, a statement
containing the salient features of the financial statement of the subsidiary company is
attached to the financial statement in Form AOC-1 as Annexure - II.
Further, pursuant to the provisions of Section 136 of the Companies Act, 2013, the
Company will make available the said financial statement of the subsidiary company upon
request by any member of the Company or its subsidiary. These financial statements of the
Company and its subsidiary will be kept open for inspection by any member. The members can
send an e-mail to investor@mamata.com upto the date of the AGM and the same would
be available on the Company's website at www. mamata.com.
12. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS &
OUTGO
The information required under Section 134 (3)(m) of the Companies Act, 2013 read with
Rule 8 of the Companies (Accounts) Rules, 2014 is annexed hereto in Annexure - III and
forms part of this report.
During the year under review, the total foreign exchange earnings and outgo is '
1,063,134,029/- and ' 192,275,648/- respectively.
13. MANAGEMENT DISCUSSION AND ANALYSIS
The Management Discussion and Analysis, outlining the industry trends, performance, and
outlook of the Company, presented as Annexure - IV and forms an integral part of
this report.
14. STATEMENT FOR SECRETARIAL STANDARD COMPLIANCE
The Company has complied with the Secretarial Standards (SS- 1 and SS-2), issued by the
Institute of Company Secretaries of India and forming part of the Act, on meetings of the
Board of Directors and General Meetings.
15. PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES
The Board wishes to place on record, its appreciation to all employees in the Company
for their wholehearted efforts and impressive contribution to the high level of
performance of the Company during the year. Industrial relations continued to be cordial
and harmonized at all levels.
Disclosure pertaining to remuneration and other details as required under Section
197(12) of the Act read with Rules 5(1) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 is annexed to the Report as Annexure - V.
Details of employee remuneration as required under the provisions of Section 197 of the
Companies Act, 2013 and Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014, are available to any Shareholder for inspection on
request. If any Shareholder is interested in obtaining a copy thereof, such Shareholder
may write to the Company Secretary, where upon a copy would be sent through email only.
The Annual Report excluding the aforesaid information is being sent to the members of the
Company.
16. SWEAT EQUITY
The Company has not issued any Sweat Equity Shares during the year under review.
17. EMPLOYEES STOCK OPTION SCHEME
The Company has not provided any Stock Option Scheme to the employees during the year
under review.
18. DIRECTORS
Appointment/re-appointment
During the year under review, Mr. Varun C. Patel (DIN: 03378077) was appointed as an
Additional and non-executive non-independent Director on the Board of Directors of the
Company w.e.f., August 08, 2025. In the 46th Annual General Meeting held on
September 19, 2025, the Members approved his appointment as a Non-executive
non-independent Director of the Company.
The Board on the recommendation of the Nomination and Remuneration Committee and in
accordance with the provisions of Section 149 read with Schedule IV to the Act and
applicable SEBI Listing Regulations, Mrs. Prachi P. Shah (DIN 06726226) was appointed as
Non-Executive, Independent Director of the
Company, not liable to retire by rotation, for a term of five years commencing from May
29, 2026 to May 28, 2031, subject to approval of the Members at the ensuing Annual General
Meeting ("AGM"). A resolution seeking Member's approval for her appointment
forms part of the Notice for the ensuing AGM.
Retirement by Rotation
In accordance with the provision of Section 152 of the Act read with rules made there
under and the Articles of Association of the Company, Mr. Chandrakant B. Patel
(DIN:00380810) is liable to retire by rotation at the ensuing Annual General Meeting. Mr.
Chandrakant B. Patel being eligible offers himself for re-appointment at the ensuing
Annual General Meeting.
Brief profile of aforesaid director is given in the Annual Report.
Resignation
Mrs. Ruchita T. Patel (DIN: 09306338), a non-executive Independent Director, resigned
as a Director of the Company w.e.f., June 01, 2026. She has confirmed that there is no
material reason for her resignation. The Board places on record its appreciation for her
invaluable contribution and guidance provided to the Company.
Independent Directors
In terms of Regulation 49 of the Companies Act, 2013 and SEBI Listing regulations, Mr.
Munjal M. Patel, Mr. Subba Bangera, Mrs. Neha Nowlakha and Mrs. Ruchita Patel are the
Independent Directors of the Company as on March 31,2026.
Mrs. Ruchita T. Patel (DIN: 09306338), a non-executive Independent Director, resigned
as a Director of the Company w.e.f., June 01,2026
The Company sought approval of the members by way of a Special Resolution through
postal ballot notice dated March 04, 2026, for continuation of appointment of Mr. Subba
Bangera as an Independent Director beyond the age of 75 years through remote e-voting
commenced on March 06, 2026 and ended on April 04, 2026. The said resolution was duly
passed and the results were announced on April 06, 2026.
All Independent Directors of the Company have given declarations under Section 149(7)
of the Act, that they meet the criteria of independence as laid down under Section 149(6)
of the Act and Regulation 16(1)(b) of the SEBI LODR. In terms of Regulation 25(8) of the
Listing Regulations, the Independent Directors have confirmed that they are not aware of
any circumstance or situation, which exists or may be reasonably anticipated that could
impair or impact their ability to discharge their duties with an objective independent
judgment and without any external influence. The Independent Directors of the Company have
undertaken requisite steps towards the inclusion of their names in the databank of
Independent Directors maintained with the Inian Institute of Corporate Affairs, in terms
of Section 150 read with Rule 6 of the Companies (Appointment and Qualification of
Directors) Rules, 2014.
In the opinion of the Board, the Independent Directors possess the requisite expertise
and experience and are persons of high integrity and repute. They fulfil the conditions
specified in the Act as well as the Rules and are Independent of the Management.
19. KEY MANAGERIAL PERSONNEL
During the year under review there was no change in the Key Managerial Personnel (KMP)
of the Company as per Section 203 of the Companies Act, 2013.
20. DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Companies Act, 2013, the Directors state that:
(a) In the preparation of the annual accounts as at March 31, 2026, the applicable
accounting standards have been followed and there are no 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 as at March 31,2026 and of the profit and
loss of the Company for that year.
(c) The Directors have taken proper and sufficient care 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 and detecting fraud and other irregularities.
(d) The Directors have prepared the annual accounts on a going concern basis.
(e) The Directors have laid down internal financial controls to be followed by the
Company and that such internal financial controls are adequate and operating effectively.
(f) The Directors have devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems are adequate and operating effectively.
21. MEETINGS OF THE BOARD
During the year under review, 7 (Seven) Board Meetings were held on May 28, 2025,
August 08, 2025, September 20, 2025, November 07, 2025, December 08, 2025, January 31,
2026 and February 26, 2026. The maximum time gap between two consecutive meetings of Board
did not exceed more than 120 days as prescribed under the provisions of Section 173 of the
Companies Act, 2013. The Companies Act, 2013 read with relevant rules made thereunder
facilitates the participation of a Director on Board/Committee Meetings through
videoconferencing or other audio-visual mode. Accordingly, the option to participate in
the meeting through video conferencing was made available for the directors. Leave of
absence was granted to Directors who could not attend the respective board meetings on
request.
The Agenda papers along with agenda notes are circulated well in advance to the Members
of the Board for their review and to facilitate them to take informed decisions, if any.
22. COMMITTEES OF THE BOARD
The Committees of the Board focus on certain specific areas and make informed decisions
in line with the delegated authority.
The following Committees constituted by the Board function according to their
respective roles and defined scope:
• Audit Committee
• Nomination and Remuneration Committee
• Corporate Social Responsibility Committee
• Stakeholders' Relationship Committee
• IPO Committee
Details of composition, terms of reference and number of meetings held in Financial
Year 2025-26 for the aforementioned committees are given in the Report on Corporate
Governance, which forms a part of this Report. Further, during the year under review, all
recommendations made by the various committees have been considered and accepted by the
Board.
23. BOARD EVALUATION
The Annual evaluation process of individual Directors, the Board and Committee was
conducted in accordance with the provision of the Act and the SEBI Listing Regulations.
The Board evaluated its performance after seeking inputs from all the Directors on the
basis of criteria such as the Board composition and structure, effectiveness of Board
processes, information and functioning, etc. The performance of the Committees was
evaluated by the Board after seeking inputs from the Committee members. The Board and NRC
reviewed the performance of individual Directors. In a separate meeting of Independent
Directors, performance of non-independent Directors and the Board as a whole was
evaluated. Additionally, they also evaluated the Chairman of the Board, taking into
account the views of Executive and non-executive Directors in the aforesaid meeting.
The above evaluations were then discussed in the Board Meeting and performance
evaluation of Independent Directors was done by the entire Board excluding the Independent
Director being evaluated.
24. FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS
Familiarization Programmes for Independent Directors are conducted at regular
intervals. Please refer to the paragraph on Familiarization programme in the Corporate
Governance Report for detailed information.
25. ANNUAL RETURN
As per the provisions of Section 92(3) and Rule 12 of the Companies (Management and
Administration) Rules, 2014, the Company is required to upload a copy of the Annual Return
on its website, if any, and the web-link of such Annual Return shall be disclosed in the
Board's Report. The Annual return of the Company shall be uploaded and the same is
available on the website of the Company at www.mamata.com/investors.
26. AUDIT Statutory Audit
M/s. SHBA & Co. LLP, Chartered Accountants (FRN: 101046W/ W100063) (formerly known
as M/s. Bathiya & Associates LLP, were appointed as statutory auditors of the Company
for a period of 5 years till conclusion of the 50th Annual General Meeting.
A Certificate from M/s. SHBA & Co. LLP, Chartered Accountants (FRN:
101046W/W100063), has been received to the effect that their appointment as Statutory
Auditor of the Company, will be in accordance with the limits specified under Section 141
of the Act and Rules framed thereunder.
The Audit Report of M/s. SHBA & Co. LLP, Chartered Accountants, Auditor of the
Company does not contain any Qualification, adverse remark or observation.
Report on Frauds, if any:
During the year under review, no incidence of any fraud has occurred in the Company.
Neither the Audit Committee of the Board, nor the Board of the Company had received any
report involving any fraud, from the Statutory Auditors of the Company. As such, there is
nothing to report by the Board, as required under Section 134 (3) (ca) of the Companies
Act, 2013.
Secretarial Audit
Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors appointed M/s.
Chirag A. Shah & Associates, Practising Company Secretaries to conduct secretarial
audit of the Company for the year ended March 31,2026. The Report of the Secretarial
Auditor for Financial Year 2025-26 is Annexed herewith as Annexure - VIII. The
report of Secretarial Audit does not contain any qualification, reservations, adverse
remarks or disclaimer.
At the 46th AGM of the Company M/s. Chirag Shah & Associates, Company
Secretaries, a peer reviewed firm of Company Secretaries in Practice have been appointed
as Secretarial Auditors of the Company for a period of five years from April 01, 2025 till
March 31,2030.
M/s. Chirag Shah & Associates have provided their consent to act as the Secretarial
Auditors of the Company and have confirmed that the proposed appointment, if made, will be
in compliance with the provisions of the Act and the SEBI Listing Regulations.
Cost Audit & Cost Records
In terms of provisions of Section 148 of the Companies Act, 2013 read with the
Companies (Cost Records and Audit) Rules, 2014 as amended from time to time, based on the
recommendation of the Audit Committed, the Board of Directors has appointed M/s. C. B.
Modh & Co., a firm of Cost Accountants in practice, (FRN: 101474) as Cost Auditor of
the Company for the financial year ended 31st March, 2027 to conduct Cost Audit
for relevant product prescribed under the Companies (Cost Record and Audit) Rules 2014.
A Certificate from M/s. C. B. Modh & Co., Cost Accountants, (FRN: 101474), under
Section 139 of the Act has been received to the effect that their appointment as Cost
Auditor of the Company, if made, would be in accordance with the limits specified under
Section 141 of the Act and Rules framed thereunder.
A remuneration of ' 93,500/- for the year 2026-27 is recommended by the Audit
Committee and is approved by the Board.
A resolution seeking Members' approval for remuneration payable to Cost Auditors forms
part of the Notice of the 47th Annual General Meeting of the Company and same
is recommended for your ratification.
The Company has prepared and maintained requisite Cost accounts and records as required
to be maintained as specified by the Central Government under Section 148(1) of the
Companies Act, 2013.
27. AUDIT COMMITTEE
The details pertaining to composition of the Audit Committee and brief terms of
reference are included in as part of Corporate Governance Report.
28. INTERNAL FINANCIAL CONTROLS
The Company has adequate internal financial controls commensurate with the nature &
size of business of the Company to ensure proper recording of financial & operational
information & compliance of various internal controls and other regulatory &
statutory compliances. During the year under review, no material or serious observation
has been received from the Internal Auditor of the Company for inefficiency or inadequacy
of such controls.
29. VIGIL MECHANISM
The provisions of Section 177 of the Companies Act, 2013 read with Rule 7 of the
Companies (Meetings of Board and its Powers) Rules, 2014, relating to vigil mechanism is
not applicable to the Company for the year under review.
30. NOMINATION & REMUNERATION COMMITTEE AND POLICY ON DIRECTORS' APPOINTMENT AND
REMUNERATION AND OTHER DETAILS
The provisions of Section 178 (1) of the Companies Act, 2013 read with Rule 6 of the
Companies (Meetings of Board and its Powers) Rules, 2014, relating to Nomination and
Remuneration Committee and the Company's policy on directors' appointment and remuneration
and other matters provided in Section 178 (3) of the Companies Act, 2013 have been duly
complied with.
31. COMPLIANCE WITH PREVENTION OF SEXUAL HARASSMENT (POSH) POLICY
The Company is committed to providing a safe and conducive working environment for all
its employees. In line with the requirements of the Sexual Harassment of Women at
Workplace (Prevention, Prohibition, and Redressal) Act, 2013, the Company has:
• Formed a POSH Committee to address and resolve complaints related to sexual
harassment.
• Implemented a comprehensive POSH Policy and conducted training programs to raise
awareness among employees regarding the policy.
• Ensured that all employees are aware of the grievance redressal mechanism.
The Company has had no complaints related to sexual harassment during the financial
year. Regular workshops and training sessions are held to reinforce the importance of
maintaining a respectful and harassment-free workplace.
32. CORPORATE SOCIAL RESPONSIBILITY (CSR)
During the year under review, the Company was required to spend an amount of '
63,67,935/- as per the applicable provisions of Companies Act, 2013. The Company's
initiatives and activities are aligned to the requirements of Section 135 of the Act. A
brief outline of the CSR Policy of the Company and the CSR spending during the year under
review and for the time between the end of financial year and the date of this report, are
set out in Annexure - VI of this report in the format prescribed in the Companies
(Corporate Social Responsibility Policy) Rules, 2014.
A brief outline of the CSR Policy of the Company is placed on the website of the
Company - www.mamata.com.
33. PARTICULARS OF LOANS, GUARANTEES, AND INVESTMENTS
There are no loans, guarantees, and investments covered under Section 186 of the
Companies Act, 2013 provided.
34. PARTICULARS OF CONTRACTS OR ARRANGEMENT WITH RELATED PARTIES
All transactions with related parties are placed before the Audit Committee as also
placed before the Board for approval. Prior omnibus approval of the Audit Committee and
the Board is obtained for the transactions which are of a foreseen and repetitive nature.
The transactions entered into pursuant to the omnibus approval so granted are audited and
a statement giving details of all related party transactions is placed before the Audit
Committee and the Board of Directors for their approval on a quarterly basis.
All related party transactions entered into by the Company during the financial year
were on an arm's length basis and in the ordinary course of business. Details of related
party transactions are provided in the Notes to the Financial Statements.
Pursuant to the applicable provisions of the Act and relevant SEBI LODR Regulations,
policy on RPT has been formulated and shared on the website of the Company.
The particulars of contracts or arrangements of the Company with related parties as
required under Section 134 (3) (h) of the Companies Act, 2013 in Form AOC-2 is annexed
hereto in Annexure - VII and forms part of this report.
35. SIGNIFICANT AND MATERIAL REGULATORY ORDERS
There are no orders issued by any regulatory authorities or courts or tribunals in
favour/against the Company impacting the going concern status and Company's operations in
future.
36. DISCLOSURE UNDER INSOLVENCY AND BANKRUPTY CODE,2016
During the year under review no application is made by the Company under Insolvency and
Bankruptcy Code, 2016 and there are no proceedings which are pending against the Company
under the said Code.
37. DISLOSURE RELATING TO ONE TIME SETTLEMENT WITH THE BANK, IF ANY
During the year under review the Company has not made any kind of settlement with any
Bank.
38. RISK MANAGEMENT
The Company has a well-defined risk management policy to identify, assess, and mitigate
risks that could impact its business. The Board periodically reviews the risk management
framework to ensure its effectiveness.
39. APPRECIATION
The Board wishes to place on record its appreciation for the support and cooperation
received from shareholders, employees, and other stakeholders. The Directors look forward
to continued support and encouragement.
For and on behalf of the Board of Directors
Mahendra N. Patel
Chairman & Managing Director (DIN: 00104997)
Date: July 06, 2026 Place: Ahmedabad
