To the Members,

The Board of Directors ("Board") are pleased to submit its the 43^rd Directors' report on the performance of the Ironwood Education Limited ("Company") along with the audited standalone and consolidated financial . 2026 statementsforthe financial year ended March 31,

1. Financial Results

2. Dividend

The Board of Directors of the Company have not recommended any dividend for the financial year ended March 31, 2026.

3. Dividend Distribution Policy

The provisions of Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)

Regulations, 2015 relating to framing of 'Dividend Distribution Policy' are presently not applicable to the Company.

4. Transfer to Reserves

The Board of Directors has not recommended the transfer of any amount to reserves for the financial year 2025 26.

5. Share Capital

The Authorised Share Capital of your Company is 1,80,00,000 Crore Eighty Lakhs) Equity Shares of face value of Rs.10/- each amounting to Rs.18,00,00,000/- (Rupees Eighteen Crores only) and the Paid-up Share Capital is 1,67,80,626 (One Crore Sixty Seven

Lakhs Eighty Thousand Six Hundred Twenty Six) Equity Shares amounting to Rs. 16,78,06,260/- (Rupees Sixteen Crores Seventy Eight Lakhs Six Thousand Two Hundred Sixty only).

During the financial year ended March 31, 2026, the Company at their Board Meeting held on January 22, 2026 has issued and allotted 17,11,670 (Seventeen Lakhs Eleven Thousand Six Hundred

Seventy) fully paid up equity shares for cash to investors belonging to the public category at an issue price of Rs. 45/- (Rupees Forty Five only) (including a premium of Rs. 35/- per equity share) on preferential basis.

6. Overview of Operations

The approval process in respect of the real estate redevelopment project acquired by the Company pursuant to a Joint Development

Agreement with AVA Lifespaces LLP at Kandivali is progressing satisfactorily. The Company is in the advanced stages of obtaining the requisite approvals from the competent authorities. The issuance of the final Letter of Intent (LOI) by the

(SRA) is awaited. Upon receipt of the final LOI, the site is expected to be vacated and project implementation, including construction activities, will commence in accordance with the approved development plan.

Your Company has been appointed as the Development Manager for a mixed-use real estate development project comprising approximately one million square feet at Kalyan, Mumbai, for a fixed management fee. This appointment marks an important step in the Company's strategy to strengthen its presence in the real estate development and project management sector, particularly in the resolution and execution of projects in association with financial institutions. The Company continues to make satisfactory progress on its existing projects and remains focused on timely execution while expanding its revenue streams through strategic business opportunities.

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The Company continued to strengthen its academic portfolio during the year through strategic collaborations with reputed educational institutions. Effective from the Academic Year 2026 27, the

Company expanded its offerings by introducing Bachelor's and

Master's Degree Programmes in Event Management and a Master's Degree Programme in Sports Management at Sathaye College, in addition to the existing Bachelor's Degree Programme in Sports Management. The Company remains focused on expanding its portfolio of university-recognised programmes and exploring growth opportunities in the education and sports management sectors.

The operations of the EMDI (Overseas) FZ LLC, overseas subsidiary, were adversely impacted during the year due to the prevailing geopolitical developments and the resulting uncertainty affecting the media, entertainment and events industry. Consequently, several students deferred their plans to relocate to Dubai for the

June 2026 intake, necessitating the refund of programme fees to the affected students. These developments had an adverse impact on the subsidiary's operational performance and financial position during the year under review. In view of the above, the management is evaluating various strategic alternatives in the best interests of stakeholders. The options under consideration, subject to applicable Slum Rehabilitation Authority laws, regulatory approvals, and other necessary consents, include inter alia to discontinue its business operations in the United Arab

Emirates and proposes to undertake the voluntary closure and deregistration of the Company.

Trio Infrastructure Private Limited, a wholly owned subsidiary of the Company, continued to make steady progress in the execution of its affordable residential project at Vasai East. Construction of Phase I is progressing as planned, with structural work on one tower nearing completion and the second tower advancing as per schedule. During the year, the project also received all requisite approvals for construction up to the 28th floor of both towers, enabling the Company to undertake sales of the additional inventory. The project has witnessed encouraging customer response, and the

Company remains confident of further improving sales momentum with the launch of the second tower while maintaining timely project execution.

7. Number of Meetings of the Board

During the financial year ended on 31^st March, 2026 the Board of Directors of your Company have met 7 (seven) times viz. 22^nd May, 2025, 28^th May, 2025, 6^th August, 2025, 13^th November, 2025, 25^th

November, 2025, 22^nd January, 2026 and 13^th February, 2026. The intervening gap between two consecutive meetings was not more than 120 days. The details of the meeting along with the attendance of the Directors are provided in the Corporate Governance Report, which forms part of this Annual Report.

8. Directors and Key Managerial Personnel

The Directors of the Company possess highest personal and professional ethics, integrity and values, and are committed to representing the long-term interest of the stakeholders. As on 31^st March, 2026, the Company's Board comprises 8 (Eight) Directors with considerable experience in their respective fields and three

Directors are an Executive Directors and all other Directors are Non-Executive Directors including one women director and four Independent Directors. In every Board meeting, the Directors present elect chairperson to preside over the meeting.

The composition of the Board of Directors is in due compliance with the Act and SEBI Listing Regulations.

The composition of the Board as on March 31, 2026, is set out below:

During the year, the Board of Directors of the Company, on recommendation of the Nomination & Remuneration Committee appointed Mr. Vijayshankar Tripathi (DIN: 02363151) and Mr. Balaji Raghavan (DIN: 05326740) as Executive Director and Managing Director (Key Managerial Personnel) of the Company w.e.f. 6^th August, 2025 and 25^th November, 2025 respectively for a period of five years without any remuneration. The members approved the appointment of Mr. Vijayshankar Tripathi as an Executive Director at the Annual General Meeting held on September 16, 2026 and the appointment of Mr. Balaji Raghavan as the Managing Director at the Extra-Ordinary General Meeting held on December 24, 2025. Further the Board of Directors on recommendation of the Nomination

& Remuneration Committee has also appointed Mr. Rohit Lal (DIN: 08535306) as an Independent Director of the Company for a period of five years commencing from December 31, 2025 to December 30, 2030 (both days inclusive) and Ms. Vedika Chaubey (DIN: 03098292) as Non-executive Director of the Company with effect from December 31, 2025. The members have approved the appointment of Mr. Rohit Lal as an Independent Director and Ms. Vedika Chaubey as a Non-Executive Director by way of resolutions passed through Postal Ballot on March 25, 2026.

Mr. Nitish Nagori, Chief Financial Officer of the Company vide his letter dated November 13, 2025 has tendered his resignation with effect from Novemebr 13, 2025 due to personal reasons and Mr. Vijayshankar Tripathi has been appointed as Chief Financial

Officer (Key Managerial Personnel) of the Company with effect from

November 13, 2025. Further the designation of Mr. Nitish Nagori (DIN: 09775743) has been changed from Managing Director to Executive Director (Key Managerial Personnel) of the Company with effect from November 25, 2025 for remaining period of his tenure i.e. upto December 31, 2027 without any remuneration. The Board placed on record its sincere appreciation for the valuable contribution made by him as a Chief Financial Officer and Managing Director of the Company during his respective tenure. The members approved the change in designation of Mr. Nitish Nagori as an Executive Director at the Extra-Ordinary General Meeting held on December 24, 2025.

Ms. Bela Desai (DIN: 00917442), Director of the Company, vide her letter dated November 25, 2025 has tendered her resignation as Director of the Company with effect from November 25, 2025 due to personal reasons. The Board placed on record its sincere appreciation for the valuable contribution made by her as director of the Company.

In accordance with the provision section 152 of the Companies Act, 2013 (the Act) and Articles of Association of the Company, Mr. Nitish Nagori (DIN: 09775743) retires by rotation as Director at the ensuing Annual General Meeting and being eligible, offers himself for reappointment.

A detailed profile along with the disclosures required under the SEBI

Listing Regulations and Secretarial Standard-2 on General Meetings issued by the Institute of Company Secretaries of India is provided in the explanatory statement to the Notice convening the AGM of the Company.

9. Declaration by Independent Director

Mr. Rakesh Bhatia (DIN: 00008192), Mr. Sumit Somani (DIN: 00985143), Mr. Sanjay Panicker (DIN: 08091505) and Mr. Rohit Lal (DIN: 08535306), Independent Directors of the Company have submitted the declaration of independence as required under Section

149(7) of the Companies Act, 2013 confirming that they meet the criteria of independence under Section 149(6) of the Companies Act 2013 and Regulation 16 of SEBI LODR Regulations. In the opinion of the Board, the Independent Directors fulfill the conditions specified in these regulations and are independent of the management. There has been no change in the circumstances affecting their status as Independent Directors of the Company.

Independent Directors have also 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 Board is also of the opinion that the Independent Directors of the

Company possess requisite qualifications, experience and expertise in the field of finance, strategy, auditing, tax, risk advisory, financial services and they hold the highest standards of integrity.

The Company has conducted familiarization programme for its Independent Directors during the year under review. The programme aims to familiarize the Independent Directors to understand the Company, its operations, its business, industry and the regulatory update at Board and Committee Meetings to facilitate them in performing their duties as Independent Directors. The details of familiarization program imparted to Independent Directors are disclosed on the website of the Company at https://ironwoodworld. com/independent-directors/

In terms of Section 134(5) of the Companies Act, 2013 in relation to financial statements for the year ended 31 ^st March, 2026, the Board of Directors to the best of their knowledge and ability, confirm/state that: a) in the preparation of the annual accounts for the year ended March 31, 2026, the applicable accounting standards have been followed along with proper explanation relating to material departure; 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 / loss of the Company for the year ended on that date; c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the 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; and 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.

As required under Section 178 of the Companies Act, 2013 the Board of Directors has approved the Nomination and Remuneration Policy, which lays down a framework in relation to remuneration of Directors, Key Managerial Personnel and Senior Management of the Company. This policy also lays down criteria for determining qualifications, positive attributes, independence of Directors and other matters provided under sub-section (3) of Section 178 of the Companies Act, 2013. Gist of this policy are given in Annexure -

B to this report. The detailed policy is available on the Company's website at https://ironwoodworld.com/wp-content/uploads/2023/02/ Nomination-and-Remuneration-Policy.pdf

Disclosures with respect to the remuneration of Directors and employees as required under Section 197 of the Companies Act, 2013 and Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended has been appended as ANNEXURE A to this Report.

There were no such employees of the Company for which the information required to be disclosed pursuant to Section 197 of the Companies Act, 2013 read with Rule 5(2) & (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended.

The Company has reconstituted Audit Committee at the Board level with the powers and roles that are in accordance with Section 177 of the Companies Act, 2013 and Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The

Company has a qualified and independent Audit Committee with all its members being Executive and Non-Executive Directors, to oversee the accounting and financial governance of the Company.

The Committee acts as a link between the management, statutory auditors and the Board of Directors. The Committee met 7 (five) times during the year 2025-2026 on 22^nd May, 2025, 28^th May, 2025, 6^th August, 2025, 13^th November, 2025, 25^th November, 2025, 22^nd January, 2026 and 13^th February, 2026. The recommendation by the Audit Committee as and when made to the Board has been accepted by it. The details of the Audit Committee meeting along with the attendance of the members are provided in the Corporate Governance Report, which forms part of this Annual Report.

In accordance with Section 178 of Companies Act, 2013 and Regulation 20 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Company has reconstituted Stakeholders Relationship Committee to consider transfer of shares and resolve the grievances of security holders of the company including complaints related to transfer of shares, non-receipt of dividends, interest, non-receipt of balance sheet etc. During the year 2025-26 the Committee met 1 (one) time i.e. on 28.05.2025. The details of the Stakeholders Relationship Committee meeting along with the attendance of the members are provided in the Corporate Governance Report, which forms part of this Annual Report.

The Company has reconstituted Nomination and Remuneration Committee at the Board level with the powers and roles that are in accordance with Section 178 of the Companies Act, 2013 and Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. During the year under review, the Committee met 3 (three) time i.e. on 06.08.2025, 13.11.2025 and 25.11.2025. The details of the Nomination and Remuneration Committee meeting along with the attendance of the members are provided in the Corporate Governance Report, which forms part of this Annual Report.

As per the requirements of Section 92(3) of the Act and Rules framed thereunder, the Annual Return for the financial year ended March 31,

2026 is uploaded on the website of the Company and the same is available at https://ironwoodworld.com/wp-content/uploads/2026/09/ Annual-Return-MGT-7-2025-26-1.pdf

Your Company's equity shares are available for dematerialization through National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). As on March 31, 2026, 99.90% of the equity shares of the Company were held in dematerialized form.

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the notes to Financial Statements which forms part of this report.

The Company has formulated a policy on related party transactions which is also available on the website of the Company at https:// ironwoodworld.com/wp-content/uploads/2026/04/Policy-on-Related-Party-Transactions.pdf. All related party transactions are placed before the Audit Committee for review and approval. Prior omnibus approval is obtained for related party transactions on a quarterly basis for transactions which are of repetitive nature and/ or entered in the ordinary course of business and are at an arm's length basis.

All related party transactions entered during the financial year were in the ordinary course of the business and at an arm's length basis. No material related party transaction was entered into during the year by the Company. Accordingly, the disclosure of related party transactions as required under Section (h) of the Companies Act and Rule 8(2) of the Companies (Accounts) Rules, 2014 in Form AOC-2 appended as Annexure C.

The attention of Members is drawn to the disclosures of transactions with related parties set out in Notes to Accounts (Note No. 31) forming part of the standalone financial statements. Transactions with a person or entity belonging to the promoter/ promoter group which holds 10% or more shareholding in the Company as required under Schedule V, Part A (2A) of SEBI LODR Regulations are given as Note No.31 (on Related Party Transaction) forming part of the standalone financial statements.

All related party transactions are placed before the Audit Committee and also before the Board for approval on quarterly basis. Prior omnibus approval of the Audit Committee is obtained for the transactions which are of a foreseen and repetitive nature.

Pursuant to the provisions of the Companies Act, 2013 and the Listing Regulations the Board of Directors of the Company has carried out annual evaluation of performance, Board, its committees and individual directors and the Board as a whole after taking into consideration of the various aspects of the Board's functioning, composition of the Board and its Committees, culture, execution and performance of specific duties, obligations and governance.

The Nomination & Remuneration Committee and the Board have defined the evaluation criteria for the Board, its Committees and

Directors.

In a separate meeting of Independent Directors, performance of Non-Independent Directors, performance of the Board as a whole and performance of the Chairman was evaluated, taking in to account the views of Executive Director and Non-executive Directors, performance evaluation of Independent Directors being evaluated.

There have been no material changes and commitments affecting the financial position of the Company which occurred between 31^st March, 2026 and the date of this report other than those disclosed in this report.

There are no significant

Courts or Tribunal which would impact the going concern status of your Company and its future operations.

The Central Government has not prescribed the maintenance of cost records under Section 148(1) of the Companies Act, 2013.

As on 31^st March, 2026, your Company has two wholly owned subsidiary companies viz., Trio Infrastructure Private Limited and EMDI (Overseas) FZ LLC. There has been no material change in the nature of business of the subsidiary. The Company is venturing into broad basing its offering by associations. The Company has framed a policy for determining 'Material Subsidiaries' which has been posted on the Company's website at https://ironwoodworld.com/wp-content/ uploads/2026/04/Policy-for-Determining-Material-Subsidiaries.pdf There are no associates or joint venture companies within the meaning of Section 2(6) of the Companies Act, 2013 (the 'Act'). During the year under review, no company(s) ceased to be a subsidiary of the Company.

The gross revenue of Trio Infrastructure Private Limited, wholly owned subsidiary for the financial year ended March 2026 is Rs. 4992.35 lakhs (Previous Year: Nil). During the year, the Subsidiary

Company's profit stood at Rs. 577.50 lakhs (Previous Year: Rs. 71.77 lakhs).

The gross revenue of EMDI (Overseas) FZ LLC, wholly owned subsidiary for the financial year ended March 2026 stood at AED 2,73,810 (Previous Year: AED 6,90,919). During the year, the Subsidiary Company's loss stood at AED 5,99,706 (Previous year profit: AED 89,057).

As required under the Companies Act, 2013 and the Listing Regulations, the Company has prepared the Consolidated Financial Statements of the Company along with its subsidiary as per Accounting Standard which form part of the Annual Report and Accounts. Pursuant to provisions of Section 129(3) of the Act, a statement containing salient features of the financial statements of subsidiary company for the year ended 31^st March, 2026 in Form

AOC 1 is attached to the financial statements of the Company.

The Annual Accounts of the subsidiary company along with related detailed information will be made available to the shareholders of the Company seeking such information. The Annual Accounts of the subsidiary company are also kept for inspection by any members at the Registered Office of the Company on all working days except

Saturdays, during business hours upto the date of the meeting.

Audited financial statements of each of the subsidiary companies are available on the website of the Company and can be accessed at https://ironwoodworld.com/financial-results/#1488882520672-

9d96f241-fa24

Your Company has framed Whistle Blower Policy to deal with instances of fraud and mismanagement, if any in compliance with the provisions of Section 177(10) of the Companies Act, 2013 and Regulation 22 of the Listing Regulations. The policy is available on the Company's website at https://ironwoodworld.com/wp-content/ uploads/2021/06/Whistle-Blower-Policy-1.pdf.

The Company paid fines of Rs. 5,900/- to BSE for delay in submission of Related Party Transactions for September 2025 under Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 during the year.

Your Company has approved Risk Management Policy wherein all material risks faced by the Company are identified and assessed. For each of assessed, and therisksidentified, policies and procedure are put in place for monitoring, mitigating and reporting risk on a periodic basis. The policy is available on the Company's website at https://ironwoodworld.com/p-content/ uploads/2021/06/Risk-Management-Policy-1.pdf

During the financial year, the Company has raised the fund by way of issuance of equity shares through preferential allotment. The details of utilization of proceeds are summarized below as specified under Regulation 32 (7A) during this financial year.

The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at the workplace (Prevention, Prohibition and Redressal) Act, 2013. The Company has constituted the Internal Complaint Committee as per the Act, to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy. Your Company has complied with the provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. The policy is available on the Company's website at https://ironwoodworld.com/ wp-content/uploads/2023/02/Anti-Sexual-Harassment-Policy.pdf The summary of complaints for FY 2025-26 are as under:

Pursuant to the provisions of Section 139 of the Act and the rules made thereunder, M/s. A. T. Jain & Co., Chartered Accountants (Firm Registration No.103886W), were appointed as statutory auditors of the Company from the conclusion of the Annual General Meeting (AGM) of the Company held on 27th September, 2022 till the conclusion of the AGM to be held in the year 2027.

Your Company has received a confirmation from M/s. A. T. Jain & Co., Chartered Accountants (Firm Registration No.103886W) to the effect that they are not disqualified within the meaning of Section 141 and other applicable provisions of the Act and rules made thereunder.

There are no qualifications, reservations or adverse remarks or disclaimers made by M/s. A. T. Jain & Co., Chartered Accountants, Statutory Auditors, in their audit report for the Financial Year 2025-2026.

In terms of the amended Regulation 24A of the SEBI Listing Regulations vide SEBI Notification dated December 12, 2024 and provisions of Section

204 of the Act and Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board at its meeting held on August 6, 2025, based on recommendation of the Audit Committee, after evaluating and considering various factors such as industry experience, competency of the audit team, efficiency in conduct of audit, independence, etc., has approved the appointment of Sonali Gamne & Associates, Practising Company Secretaries, a peer reviewed firm((Membership No. A36772 and CP No. 19207) having peer reviewed certificate as Secretarial Auditor of the Company for a term of five consecutive years commencing from FY 2025-26 till FY 2029-30, subject to approval of the

Members of the Company.

Sonali Gamne & Associates has confirmed that the firm is not disqualified and is eligible to be appointed as Secretarial Auditor in terms of Regulation

24A of the SEBI Listing Regulations. The services to be rendered by Sonali Gamne & Associates as Secretarial Auditor is within the purview of the said regulation read with SEBI circular no. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024.

The Secretarial Audit Report for the financial year ended March 31, 2026 is annexed herewith marked as Annexure - D to this Report. There are no qualifications, reservations or adverse remarks or disclaimers made by M/s Sonali Gamne & Associates, Company Secretaries, Mumbai in their Secretarial Audit Report for the financial year ended March 31, 2026.

There have been no instances of fraud reported by the Statutory Auditors or Secretarial Auditors under Section 143(12) of the Companies Act, 2013.

The Company has an Internal Financial Control System commensurate with the size, scale and complexity of its operations. Your Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key business objectives. Major risks identified by the businesses and functions are systematically addressed through mitigating action on continuing basis. The Internal Financial Control System has been routinely tested and certified by Statutory as well as Internal Auditors. Significant Audit observations and

Committee.

The Company complies 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.

The Company has not accepted any deposits from public within the purview of Chapter V of the Companies Act, 2013 and rules made thereunder. During the year under review 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.

In terms of Section 135 of the Companies Act, 2013, provisions of Corporate Social Responsibility are not applicable to the Company.

The Company is not involved in any manufacturing activity and hence has low energy consumption levels.

The earnings and expenditure in foreign exchange were as under: (Rs. In lakhs)

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

A separate section on Management Discussion & Analysis stipulated as per Part B of Schedule V of the Listing Regulations is annexed to and forms part of the Director's Report.

The Company is committed to maintaining the highest standards of Corporate Governance and adhering to the Corporate Governance requirements as set out by the Securities and Exchange Board of India ("SEBI"). The Report on Corporate Governance as stipulated under SEBI LODR Regulations forms part of the Integrated Annual Report. A certificate Sonali Gamne & Associates, Company

Secretaries in practice, confirming compliance with the conditions of Corporate Governance as stipulated under Schedule V to SEBI LODR Regulations and applicable provisions of the Companies Act forms part of the Corporate Governance Report.

There are no applications made or any proceeding pending against the Company under Insolvency and Bankruptcy Code, 2016 during the financial year.

During the financial year under review, there were no one-time settlement with any Banks or Financial Institution..

The Company is compliant with regards to the applicable provisions mandated under the Maternity Benefit Act, 1961.

During the financial year under review, the Company has not borrowed any loan from Directors or their relatives.

The Company does not maintain any Demat Suspense/ Unclaimed Suspense Account and accordingly the disclosure pertaining as required under Schedule V Para F of SEBI Listing Regulations is not applicable to the Company for the period under review.

There has been no instance of unclaimed dividend or unclaimed shares and hence the provisions of Section 125(2) of the Act do not apply.

The Company has not issued any shares with differential rights and hence no information as per provisions of Section 43(a)(ii) of the Act is furnished.

The Company has not issued any sweat equity shares during the year under review and hence no information as per provisions of Section 54(1)(d) of the Act is furnished.

During the year under review, there were no instances of non-exercisingfromM/s. of voting rights in respect of shares purchased directly by employees under a scheme pursuant to Section 67(3) of the Act read with Rule 16(4) of Companies (Share Capital and Debentures) Rules, 2014.

Mr. Balaji Raghavan, Managing Director and Mr. Vijayshankar Tripathi drawing remuneration from Trio Infrastructure Private Limited, wholly owned subsidiary of the Company.

The Directors place on records their sincere appreciation and gratitude to all stakeholders for their continued support and cooperation, which have been instrumental in the Company's progress and growth. The Directors also acknowledge the hard work, dedication and commitment of the employees for the growth of the Company and look forward to their continued involvement and support.