Your Directors are pleased to present the Company's 32^nd Annual Report and the Company's Audited Financial Statements for
the financial year ended March 31,2025

In terms of the provisions of the Companies Act, 2013 and Regulation 17(10) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, the Board of Directors has carried out the annual evaluation of its own performance, the
performance of its Committees and that of the individual Directors.

The evaluation process covered aspects such as composition and structure of the Board and Committees, quality of agenda and
supporting material, effectiveness of Board/Committee processes, Board culture, execution of roles and responsibilities, and the
adequacy of risk management and governance practices.

The performance of individual Directors was evaluated on parameters including attendance, preparedness, meaningful
participation in deliberations, constructive engagement with peers, and contribution in guiding the Company's strategy and
governance.

FINANCIAL HICHUCHTS

The Company s financial performance for the year ended March 31,2025 is summarized below:

Audited Financial Results -Standalone

Audited Financial Results Ý Consolidated

RESULTS OF OPERATIONS AND THE STATE OF COMPANY’S AFFAIRS

During the year under review, the Company has undergone a significant transition, having been recently acquired by the
management of a well-established and efficiently run organization. This strategic change is expected to strengthen the Company's
operational framework, enhance managerial effectiveness, and provide the necessary impetus for sustainable growth.

The new management would bring with it proven expertise, strong leadership, and a focused approach towards value creation.
With this change, the Company is gearing up for the future with renewed energy and is committed to building a robust foundation
for long-term success, innovation, and stakeholder value enhancement

CAPITAL STRUCTURE

During the period under review, there was no change in capital structure of the Company. The Authorized Share Capital of the
Company as on March 31,2025 is Rs_ 7,50.00,000 divided into 7.50,000 Equity Shares of Rs. 10 each.

The paid-up share capital of the Company as on 31⁵¹ March, 2025 is Rs. 49,143.330, comprising of 49,14,333 Equity Shares of
Rs 10 each.

DIVIDEND

In view of loss during 2024-2025, Your Directors have not recommended any dividend for the financial year 2024-2025.
RESERVE

The Board of Directors of the Company has not proposed any amount to be transferred to reserves for the financial year ended
March 31, 2025.

FIXED DEPOSIT

Your Company has not accepted any Fixed Deposits during the year

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY

From the end of the financial year to which the financial statements relate and up to the date of this report, there has been a
change in the management of the Company pursuant to its acquisition by the management of a company with a demonstrated
track record of efficient operations. The Board is of the view that this transition will further strengthen the governance framework
of the Company and support the achievement of its strategic objectives

STATUTORY AUDITORS (APPOINTMENT)

The Company at its 31^s AGM held on 28th September 2024 appoints, M/s Krishan Rakesh & Co, Chartered Accountants, Delhi,
having Firm Registration Number “009088N" allotted by The Institute of Chartered Accountants of India, as Statutory Auditors of
the Company to hold office from the conclusion of 31st AGM till the conclusion of the Annual General Meeting for the Financial
Year 2024-2025 at such remuneration as may be mutually determined between the said Auditors and the Board of Directors of
the company. “The Company has obtained necessary certificate under Section 141 of the Companies Act, 2013 from them
conveying their eligibility for being statutory auditor of the Company

AUDITORS' REPORT

The observations/'qualifications of the Auditors in the Auditors Report are explained and clarified, wherever necessary, in the
appropriate Notes to the Accounts.

SECRETARIAL AUDITORS

Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014. the Company has. based on the recommendation of the Audit Committee, appointed M/s. A K Choudhary &

Associates. Company Secretaries as its Secretarial Auditor to conduct the Secretarial Audit of the Company for the financial year
2024-25. The Report of Secretarial Auditor (Form MR - 3) is annexed to the report as “Annexure -1".

INTERNAL AUDITOR

The Company had appointed M/s. Sudhir K & Associates, Chartered Accountants (Firm Registration No. 036989N) as an Internal
Auditor of the Company for the FY 2024-25, to conduct internal audit of the Company.

REPORTING OF FRAUD BY AUDITORS:

During the year under review, neither the statutory auditors 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 Board s Report

PREVENTION OF INSIDER TRADING;

In compliance with the provisions of Securities Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. the
Board has adopted a code of conduct and code of practices and procedures for fair disclosure of unpublished price sensitive
information to preserve the confidentiality of price sensitive information to prevent misuse thereof and regulate trading by
designated persons. The code of practices and procedures for fair disclosure of unpublished price sensitive information is also
available on the Company's website

EXTRACT OF ANNUAL RETURN

Pursuant to section 92(3) of the Companies Act, 2013 read with Rule 12(1) of the Companies (Management and Administration)
Rules, 2014, the Annual Return of the Company is available on the Company 's website at the following web link:
https://www.alchemist-corp.com/lnvestortAnnual Return

CONSERVATION OF ENERGY. RESEARCH & DEVELOPMENT. TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE
EARNING AND OUTGO:

The information as per Section 134(3)(m) of the Ad read with Rule 8 of the Companies (Accounts) Rules, 2014 regarding
Conservation of Energy. Research & Development. Technology Absorption and Foreign Exchange Earning and Outgo is annexed
to the report as “Annexure - II”.

MANAGEMENT DISCUSSION ft ANALYSIS

A Separate report on Management discussion and analysis relating to business and economic environment surrounding your
company is annexed as a part of this report as “Annexure - III".

CORPORATE GOVERNANCE

Your Company is committed to maintain the highest standards of Corporate Governance. The Company is exempted from
Corporate Governance Report requirements under Regulation 15(2) of SEBI (LODR) Regulations. 2015.

PARTICULARS OF EMPLOYEES

None of the Employees of the Company draws remuneration exceeding the limits prescribed under Rule 5 of Companies
(Appointment and Remuneration of Managerial Personnel) Rules. 2014 read with Sedion 197 of the Act. hence the statement
required under the said is not required to be annexed.

ANNUAL ACCOUNTS OF SUBSIDIARY

As per the provisions of Sec 129 (3) of the Companies Ad, 2013 read with rule 5 of the Companies (Accounts) Rules. 2014, the
company has prepared a statement containing salient features of Financial Statement of subsidiary in the prescribed Form AOC
- 1 which is annexed as “Annexure-IV" for the year 2024-25.

The Consolidated Financial Statements have been presented in the Annual Report.

DETAILS OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the provisions of the Companies Act. 2013 and the Articles of Association of the Company, Ms. Meena Rastogi
(DIN: 01572002), Director of the Company retires by rotation at the ensuing Annual General Meeting and being eligible, has
offered herself for re-appointment. The Board of Diredors has recommended her reappointment.

At the year ended March 31, 2025, The Company has five directors i.e. Ms. Pooja Rastogi, Managing Director, Mrs. Meena
Rastogi Non-Executive Director, Mrs. Sheetal Jain, Non-Executive Director, Mr Kailash. Non-Executive Independent Director,
Mr. Sanjeev Kumar, Independent Director

There are Five directors as on date i.e Ms. Pooja Rastogi, Managing Director, Mrs Meena Rastogi, Non-Executive Director. Mrs.
Sheetal Jain, Non-Executive Director, Mr. Kailash, Non-Executive Independent Director. Mr. Sanjeev Kumar, Independent
Director.

Director coming up tor retire by rotation

Ms. Meena Rastogi (DIN: 01572002). Director of the Company retires by rotation and being eligible and offers herself for re¬
appointment Your Director recommends her reappointment. Appointment of Ms. Meena Rastogi is in compliance with the
provisions of Section 164(2) of the Companies Act, 2013.

Independent Director

Pursuant to the provisions of Section 149 and other applicable provisions of the Companies Act, 2013 with respect to appointment
and tenure of the Independent Directors which came into effect from April 1,2014, the Independent Directors shall be appointed
for not more than two terms of five years each and shall not be liable to retire by rotation. The Term shall be effective prospectively.
During the year, under review the below mentioned are the appointments and resignations on various positions:

No changes in the positions of Directors & Key Managerial Personnel during the year.

Resignation of Directors & Key Managerial Personnel

N.A

Key Managerial Personnel

The following persons have been designated as Key Managerial Personnel of the company. Pursuant to section 2 (51 land section
203 of the act read with Rules framed there under:

1. Ms. Pooja Rastogi. Managing Director

2. Mr. Tushar Rastogi. Chief Financial Officer;

3. Mr. Sundar Singh, Company Secretary & Compliance Officer.

NUMBER OF MEETINGS OF THE BOARD

During the period commencing from 1^s'April, 2024 and ending on 31 ^stMarch, 2025. the boerd of directors of the company meet on
the following dates on 23^rd May, 2024; 12^lh August, 2024; 30^th August. 2024; 12“* November, 2024, 12* February 2025 and 20^lh
March, 2025.

RISK MANAGEMENT

The Company has a Risk Management process which provides an integrated approach for managing the risk in various aspects
of the business.

PARTICULARS OF LOANS. INVESTMENTS OR GUARANTEES UNDER SECTION 186

There were no loans, Guarantee or Investments made by the Company under Section 186 of the Companies Act, 2013 during
the year under review and hence the said provision is not applicable

RELATED PARTY TRANSACTIONS UNDER SECTION 188 OF COMPANIES ACT. 2013

All the contracts/ arrangements/ transactions entered by the Company during the financial year with related parties were in its
ordinary course of business and on an arm's length basis. The provisions of Section 188 of the Companies Act, are therefore, not
attracted.

During the year, the Company had not entered Into any contract / arrangement / transaction with related parties which could be
considered material in accordance with the policy of the Company on materiality of related party transactions or which is required
to be reported in Form No. AOC-2 in terms of Section 134(3)<h) read with Section 188 of the Act and Rule 8(2) of the Companies
(Accounts) Rules, 2014.

The disclosure of Related Party Transaction as per AS-24 has provided in the Notes to Accounts to the Financials of the
Company ("Annexure -V").

AUDIT COMMITTEE UNDER SECTION 177 OF COMPANIES ACT. 2013

As per the provisions of Section 177 of the Companies Act, 2013. the Company has constituted an Audit Committee to oversee
internal audit and control procedures, final accounts and reporting process.

1. AUDIT COMMITTEE:

a). Composition

The Committee comprises of one chairman and two members The committee has powers and performs functions as envisaged
under Companies Act. 2013 and the Listing Agreement. During the financial year the committee met 4 times:

b) Meetings and Attendance

There were four meetings of the Committee conducted during the financial year. The meetings were held on 23^rii May. 2024,12^lh
August 2024, 12^lh November 2024 and 12^th February 2025. The details of attendance of Committee members are given in this
Report. The gap between any two consecutive Audit Committee meetings did not exceed 120 days.

c) Scope and Terms of Reference of the Committee:

The Audit Committee has been vested with the following powers:

a) To investigate ary activity within its terms of reference.

b) To seek information from any employee

c) To obtain legal or any other professional advice

d) To secure attendance of outsiders with relevant expertise, if it considers necessary.

NOMINATION AND REMUNERATION COMMITTEE UNDER SECTION 178 OF COMPANIES ACT. 2013

As per section 178 of the Companies Act, 2013 and rules made there under, the existing Remuneration Committee was renamed
as Nomination and Remuneration Committee by the Board of Directors, which recommend in the Board policy relating to
remuneration of Directors, Key Managerial Personnel and other employees.

a) Composition

As on March 31, 2025. the Nomination and Remuneration Committee comprised of the following members:

b) Meetings and Attendance

There was 1 meeting of the Committee conducted during the financial year. The meeting was held on 12* February 2025. The
details of attendance of Committee members are given in this Report.

c) Scope and Terms of Reference of the Committee:

The Nomination and Remuneration performs the following key functions:

1. Reviewing and periodically determining the compensation and benefits for the Executive Directors.

2. Reviewing the Company's Remuneration policy.

3. Reviewing the Employee Stock Option plan for the company, and prescribing appropriate internal process to be
followed in considering and granting of such options, if any.

The detailed terms of reference of the Committee are available on the website of the Company.

Pursuant to the provisions of the Act and the SEBI Listing Regulations, the Nomination and Remuneration Committee (“NRC") of
your Board has formulated a Nomination and Remuneration Policy for the appointment and determination of remuneration of the
Directors. Key Managerial Personnel, Senior Management and other employees of your Company. The NRC has also developed
the criteria for determining the qualifications, positive attributes and independence of Directors and for making payments to
Executive and Non-Executive Directors of the Company

The detailed policy is available on the Company’s website -

Weblink of Policy: https;//www.aIchemist-corp.comi''reaulation-46-of-sebi-lodr/

STAKEHOLDERS RELATIONSHIP COMMITTEE

In compliance of Section 178 of the Companies Act, 2013. rules made there under, the existing Shareholders'/lnvestors’ Grievance
Committee was renamed as Stakeholders' Relationship Committee by the Board of Directors, to consider and resolve the
grievances of security holders of the Company.

STAKEHOLDER RELATIONSHIP COMMITTEE:

a) Composition

As on March 31, 2025. the Stakeholder Relationship Committee comprised of the following members:

b) Meetings and Attendance

There was 1 meeting of the Committee conducted during the financial year. The meeting was held on 12* February 2025 details
of attendance of Committee members are given in this Report

c) Scope and Terms of Reference of the Committee:

1. The Committee approves the Share transfer, transmission, transposition of name, issue of spiit/dupiicate Share Certificates
and to reviews the redressal of Shareholders' and investors complaints received by the Company/Share Transfer Agents. The
Committee also oversees the performance of the Registrars and Transfer Agents and recommends measures for overall
improvement in the quality of investor services.

2. Investor Complaints

The number of complaints received and resolved to the satisfaction of investors during the financial year 2024-25 and their
break-up is as under:

VIGIL MECHANISM

The Company has a Vigil mechanism and Whistle blower policy under which the employees are free to report violations of
applicable laws and regulations and the Code of Conduct underthe supervision of Audit Committee. During the year under review,
no report related to the violation received.

DIRECTORS' RESPONSIBILTY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013, the Directors hereby confirm that:

i. in the preparation of the annual accounts, the applicable accounting standards had been
followed and there is no material deviation from the same;

ii. the directors had 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 or loss of the Company for that period;

ill the directors had 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;

iv. the directors had prepared the annual accounts on a going concern basis and.

v. 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.

vi. the directors had devised proper system to ensure compliance with the provisions of all applicable laws and that such system
were adequate and operating effectively.

GENERAL

i. During the year under review, there was no change in the nature of business of the Company.

ii. The Company is not required to maintain the cost records as specified by the Central Government under sub¬
section (1) of section 148 of the Companies Act, 2013.

iii. Since the net worth and turnover of the Company is below the prescribed criteria mentioned under Regulation 15 of
the SEBI Listing Regulations, therefore the compliance with the Corporate Governance provisions as specified in
Regulation 17 to Regulation 27 and clauses (b) to (i) of sub-regulation (2) of Regulation 46 and para-C, D and E of
Schedule V are not applicable to the Company. Hence. Corporate Governance Report does not form part of this
Annual Report

iv. a statement that the 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.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

The company has an Internal Control System, commensurate with its size, scale, and complexity of its operations. Audit
Committee reviews internal audit reports and oversees the internal control system of the company from time to time.

DECLARATION BY INDEPENDENT DIRECTOR

The Company has received necessary declarations from each Independent Director under Section 149(7) of the Companies Act,
2013 that they met criteria of independence laid down in Section 149(6) of Companies Act. 2013 and the relevant rules.

DETAILS OF SUBSIDIARY/JOINT VENTURE/ASSOCIATE COMPANIES

During the year under review, your company has 1(one) subsidiary. No Company became or ceases to become Subsidiary/Joint
Venture/Associate of the Company in the year 2024-25.

During the year under review, there have been no material changes in the business of the subsidiary.

A statement providing performance and salient features of the financial statements of Subsidiary Company, as per Section 129(3)
of the Act. which also reflects its contribution to the overall performance of the Company during the period under review, is attached
to the financial statements of the Company.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNAL IMPACTING THE
GOING CONCERN STATUS OF THE COMPANY

There are no significant and t or matenal orders passed by the Regulators or Courts or Tribunal impacting the going concern
status and Company's future.

CORPORATE SOCIAL RESPONSIUBITY (CSR>

Pursuant to the provisions of Section 135 of the Companies Act. 2013, every company having net worth of rupees Five Hundred
Crore or more, or Turnover of rupees One Thousand Crore or more or N6t profit of rupees Five Crore or more during any financial
year shall constitute a Corporate Social Responsibility Committee of the Board and shall formulate a Corporate Social
Responsibility Policy. Your Company is not falling under the preview of said section during the year.

COMPLIANCE WITH SECRETARIAL STANDARDS

Your Company has complied with the Secretarial Standards-1 (Meetings of Board of Directors) and Secretarial Standards- II
(General Meeting) issued and amended from time to time, by the Institute of Company Secretaries of India.

STOCK EXCHANGE LISTING:

The Equity Shares of your Company are listed at:

i. The Stock Exchange, Mumbai (BSE);

ii. The Jaipur Stock Exchange Limited;

iii. The Delhi stock Exchange.

Your company has already files delisting application with Jaipur Stock Exchange which are still in process,

CODE OF CONDUCT

The Company has in place a comprehensive Code of Conduct (the Code) applicable to ail the employees and Non-executive
Directors including independent Directors. The Code is applicable to Non-executive Directors including Independent Directors to
such extent as may be applicable to them depending on their roles and responsibilities. The Code gives guidance and support
needed for ethical conduct of business and compliance of law. The Code has been circulated to Directors and Management
Personnel, and its compliance is affirmed by them annually. A declaration signed by the Company's Directors is published in this
Report.

PUBLIC DEPOSITS

The Company has not accepted / invited any public deposits within the meaning of section 73 of the Act read with Company
(Acceptance of Deposits) Rules. 2014, during the period under review.

CONSOLIDATED FINANCIAL STATEMENTS

The Consolidated Financial Statement of the Company for the financial year ended 2024-25 are prepared in compliance with the
applicable provisions of the Act, Accounting Standards and SEBI (LODR), Regulations, 2015. The Consolidated Financial
Statement has been prepared on the basis of Audited Financial Statements of the Companies as approved by their respective
Board of Directors.

Pursuant to the provisions of Section 136 of the Act. the Financial Statements of tine Company, the Consolidated Financial
Statements along with all relevant documents and Auditors report thereon form part of this Annual Report. The Financial
Statements as stated above are also available on the website of the Company and can be accessed at the web link
www.alchemist-corp com.

DISCLOSURE AS PER THE SEXUAL HARRASMENT OF WOMEN AT WORKPLACE (PREVENTION. PROBATION AND
REDRESSAL) ACT, 2013

The company has a policy on prohibition, prevention and redressal of Sexual Harassment of women at workplace and matters
connected there with or incidental there to covering all the aspects as contained under “The Sexual Harassment of women at
workplace (Prohibition, Prevention and Redressal), Act, 2013.

During the financial year 2024-25, no complaint was received under the policy.

INTERNAL FINANCIAL CONTROLS

The Company had laid down Internal Financial Controls and such internal financial controls are adequate with reference to the
Financial Statements and were operating effectively.

DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY
CODE. 2016

During the period under review, there were no applications made or any proceedings pending in the name of the Company under
the Insolvency and Bankruptcy code, 2016.

DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT
AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS

During the period under review, there has been no one time settlement of loans taken from bank and financial institutions.

APPRECIATION & ACKNOWLEDGEMENT;

The Board of Directors appreciate the valuable co-operation extended by the Company's Bankers, monitoring agency & other
Central and State Government departments, for their continued support. Your Directors place on record their wholehearted
appreciation of your Company's employees at all levels. Your Directors also acknowledge with gratitude the backing of its
shareholders

For and on behalf of Board of Directors
Alchemist Corporation Limited

Sdf- Sd/-

Date; 30.05.2025 Pooja Rastogl Meena Rastogl

Place: New Delhi (Managing Director) (Director)

DIN: 00201858 DIN: 01572002