To the Members,

The Directors present the 37^th Annual Report of the Company along with the audited standalone and consolidated financial statements for the financial year ended March 31, 2021. The consolidated performance of the Company and its subsidiaries has been referred to wherever required.

1. Financial Results

(in Rs. lakh)

2. Company's performance/State of Company's Affairs

On a consolidated basis, the total revenue (other income) for Financial Year ended on 31^st March, 2021 is Rs. 36.69 Lakh, lower then compared to previous year's revenue of Rs.52.61 Lakhs. The profit after tax (PAT) attributable to shareholders and non-controlling interests for financial year ended on 31^st March, 2021 is Rs. 6.05 Lakhs as against loss of Rs. 29.05 in previous year ended on 31^st March 2020. The PAT attributable to shareholders for FY, 2021 is Rs.6.05 L a k h s register in gade-growth over the PAT of Rs. (29.05) for FY, 2020.

3. Share Capital

Authorised Capital

The Authorised Capital of the company as on March 31, 2021 was Rs. 10,00,00,000/-.

Paid up equity capital

The paid up equity capital of the company as on March 31, 2021 was Rs. 8,71,45,000 comprising of 87,14,500 Equity Shares of Rs. 10 each.

During the year under review, the Company has not issued any equity share, preference share or any other security.

4. Reserves

During financial year 2020-21 no amount was carried to reserves. The consolidated retained earnings of the Company stood at Rs. (213.94) against Rs (219.99) in the last Financial Year.

5. Dividend/ Bonus/ Buy Back

During the year under review, the Company has not earned much profit and hence your Director proposes to plough back the profits in the business of the Company. Accordingly, the Board of Directors had not recommended any dividend, not issued bonus shares and not recommended buy back of any shares for the financial year ended March 31, 2021.

6. Public Deposits

Our Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014. No deposits were unpaid or unclaimed at the end of the year.

7. Human Resource Development

Your Company continued to focus on attracting new talent while investing in organic talent development to help employees acquire new skills, explore new roles and realize their potential. However due to deterioration of business or financials during the couple of years the company is unable to retain its existing employees.

8. Meetings of the Board of Directors

The Agenda and Notice of the Meetings were circulated well in advance to the respective Directors. During the year under review, 11 (Eleven) Board Meetings were convened and held. The intervening gap between the meetings was within the time period prescribed under the Companies Act, 2013. The dates on which the Board Meetings were held are mentioned below:

9. Declaration by Independent Directors under sub-section 6 of Section 149

During the year under review, there has been change in the Independent Directors of the Company. Ms. Monika Gupta and Mr. Sumit Jindal holds the position of the Independent Director in the company and pursuant to the provisions of Section 149 of the Act, the independent directors have submitted declarations that each of them meet the criteria of independence as provided in Section 149(6) and Section 149(7) of the Act along with Rules framed thereunder and Regulation 16(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations").

During the year, they have resigned from their post and in place of them Mr. Varun Mangla and Mr. Surinder Babbar was appointed as Independent Directors to hold office for a period of 5 years. Pursuant to their appointment and Section 149(6) and 149(7) they have also submitted their declarations of the independence under the said section and Regulation 16 of SEBI (Listing Obligations & Disclosure Requirement) Regulations, 2015. There has been no change in the circumstances affecting their status as independent directors of the Company.

10. Change in Directors and Key Managerial Personnel (KMP) During the year, the details of Directors or KMP are as follows:

A) Resignations of Directors during the financial year 2020-21

B) Appointments of Directors or KMP during the financial year 2020-21

11. Nomination and Remuneration Policy

Pursuant to the provision of Section 178 of the Companies Act, 2013 and Regulation16(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has on the recommendation of the Nomination and Remuneration committee framed a policy which sets out the criteria for determining qualifications, positive attributes and independence of a Director. The detailed policy is available on the website of the company at www.sabrimala.co.in.

12. Statement indicating the manner in which formal evaluation of performance of the board, its committees and of individual directors has been made

Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an evaluation of its own performance, the Directors individually as well as the evaluation of the working of its Audit, Nomination and Remuneration and Stakeholders Relationship Committee. After such evaluation, the performance of the board, its committees found satisfactory and all the powers has been exercised therein with adequate care.

13. Board and Committees of the Board

a. Board of Directors

The Composition of the Board of Director of the Company as on 31^st March, 2021 comprises of:

b. Audit Committee

The Audit Committee functions according to requirement of Section 177 of the Companies Act, 2013 that defines its composition, authority, responsibility and reporting functions as applicable to the Company and is reviewed from time to time. Company Secretary acts as a Secretary to the Committee. Statutory Auditors, Internal Auditors and Senior Management Personnel of the Company also attend the meetings by invitation. The Audit Committee of the Company as on 31^st March, 2021 comprises of:

c. Nomination and Remuneration Committee

The Board of Directors of every Listed Company is required to have Nomination and Remuneration Committee. The Committee is constituted to identify persons who are qualified to become Directors and who may be appointed in Senior Management and to formulate the criteria for determining qualifications, positive attributes recommend to the Board a policy relating to the remuneration for the Directors, Key Managerial Personnel and other employees and to carry out evaluation of every Director's performance and to lay the matters as enumerated under the Companies Act, 2013.

The Nomination and Remuneration Committee of the Company as on 31^st March, 2021comprises of:

d. Stakeholder Relationship Committee

The Stakeholder Relationship Committee was constituted to ensure that all commitment to shareholders and investors are met and thus strengthen their relationship with the Company. The Stakeholder Relationship Committee of the Company as on 31^st March, 2021comprises of:

14. Vigil Mechanism

Pursuant to the provisions to proviso to sub-section 10 of Section 177 of the Companies Act, 2013 and Regulation 22(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has a Vigil Mechanism Policy namely Vigil Mechanism-Whistle Blower Policy to deal within stance of fraud and mismanagement, if any.

In staying true to our values of Strength, Performance and Passion and in line with our vision of being one of the most respected companies in India, the Company is committed to the high standards of Corporate Governance and Stakeholder responsibility. The policy can be accessed on the website of the Company.

15. Explanations or comments by the board on every qualification, reservation or adverse remark or disclaimer made by Secretarial Auditor:

Specific Observations related to the Audit Period are as follows:

a) The company has non-complied with Section 203(4) of the Companies Act, 2013. The appointment of Company Secretary and Chief Financial Officer after resignation of the previous one was made after expiry of 6 months period.

b) The company has from 1^st April, 2020 till the re-constitution of the Board, has not complied with Section 203 of the Act. Due to the change in Designation, the company does not have Managing Director, or Chief Executive Director or Manager and in their absence a Whole Time Director

c) The Company due to the clerical and/or typing error has mentioned the date of regularization and change in designation of Managing Director and Whole time Director of the company as 15.09.2020 instead of 15.12.2020. Hence due to the same, the company is not able to rectify the error as at the same designation, two e-forms cannot be filed.

The Secretarial Auditor's report by Mr. Loveneet Handa Proprietor of M/s Loveneet Handa & Associates, Company Secretary in practice has been obtained by the Company on 03.07.2021 and the same is annexed and marked as Annexure A to this Report.

Explanations or comments by the board: Due to COVID-19 Pandemic and its resulting impact on the economy, our Company is not in position to appoint Company Secretary and Chief Financial Officer and Managing Director of the Company within a period of six months from the date of such vacancy as per the provisions of section 203(4) of the Companies Act, 2013 due to nationwide lockdown there is lack of manpower.

Further we would like to clarify that the Company has applied for waiver of fees with the Securities and Exchange Board of India ("SEBI") for the said non-compliance and have also received the approval for waiver of fees from SEBI in respect of Company Secretary and Compliance officer appointment.

We would like to inform you that Regulation 15 to 27 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is not applicable of our Company.

Statutory Auditor: There were no qualifications, reservations, adverse remarks or disclaimers made by Saini Pati Shah & Co LLP, Statutory Auditors in their Audit Reports.

16. Annual Return

The extracts of Annual Return in form MGT-9, pursuant to the provisions of Section 92 is available on the website of the Company at www.sabrimala.co.in and is attached to this report as per Annexure B to this report.

17. Subsidiary(ies) and their performance

As per the provisions of first proviso of sub-section (3) of Section 129 of the Companies Act, 2013, read with Rule 5 of Companies (Accounts) Rules, 2014, statement containing salient features of the Financial Statement of Subsidiary are given along with consolidated accounts in Form AOC-1. The Annual Accounts of the Subsidiaries along with related detailed information will be made available to the members of the Company/Subsidiary seeking such information at such point of time. The Annual Accounts of the Company are also available for inspection for any member during the business hours at the registered office of the Company and subsidiary and the same can be accessed from the website of the Company at www.sabrimala.co.in.

At present the Company has one subsidiary: Sabrimala Industries LLP

The Company does not have any material subsidiary as of now. None of the Subsidiary Company holds more than 20% of the income or net worth of Consolidated income or net worth respectively of the listed entity and its subsidiaries in the immediately preceding accounting year. None of the Subsidiary holds any major loans or investment. Please refer Annexure C to this report.

18. Details in respect of frauds reported by auditors under sub section 12 of Section 143 other than those which are reported to the Central Government

The auditors has not reported any fraud under Section 143(12) of Companies Act, 2013 other than those which are reported to the Central Government.

19. Details of significant and Material Orders passed by Regulators or courts or tribunals impacting the going concern status and company's operation in future

There are no significant material orders passed by the regulators/courts which would impact the going concern status of the Company and its future operations.

20. Particulars of Loans, Guarantees or Investments

The Company has not given any loans or guarantees of investments covered under provisions of Section 186 of the Companies Act, 2013 during financial year 2020-21. However the total investments, loan of the Company on 31^st March 2021 is mentioned in Note No. 5 and 7 of Standalone and Consolidated financial statement.

21. Related Party Transactions

There was no contract or arrangements made with related parties as defined under Section 188 of the Companies Act, 2013 during the year under review. However as per AS-18 the Company has entered in related party transactions as mentioned in Note No 35 of standalone financial statements for the year ended 31 March 2021.

All Related Party Transactions that were entered in to during the Financial Year were on arm's length basis and were in the ordinary course of the business. There are no materially significant related party transactions made by the Company with Promoters, Key Managerial Personnel or other designated persons which may have potential conflict with interest of the Company at large. The Related Party Transaction Policy pursuant to Regulation 23(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is available on the Company's website at www.sabrimala.co.in. Further Form AOC-2 has been attached as Annexure D to Directors Report.

22. Particulars of Employees

The information required pursuant to Section 197 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company, will be provided upon request. In terms of Section 136 of the Act, reports and accounts are being sent to the members and others entitled thereto, excluding the information on employees' particulars which is available for inspection by the members at the Registered Office of the Company during business hours on working days of the Company up to the date of ensuing Annual General Meeting. If any member is interested in inspecting the same, such member may write to the Company Secretary in advance.

23. Code of Conduct

As per Regulation 17(5) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has laid down Code of Conduct for all Directors and Senior Management of the Company and the same has been posted on the website of the Company. Annual Compliance Report for the year ended March 31, 2021 has been received from all the Directors and Senior Management Personnel of the Company regarding compliance of all the provisions of Code of Conduct. Additionally, Company has also adopted code of conduct for Independent Directors of the Company in accordance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

24. Report on Corporate Governance

As per Regulation 27(2) SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 15 in Chapter IV of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 the Paid-up share capital of the Company was less than Rs.10 crores and Net worth was less than Rs.25 crores as on the last day of the previous financial year i.e. 31^st March, 2020. Therefore, the Corporate Governance Report is not applicable to the Company for the financial year 2020-21.

Your Company has always adhered itself towards best governance practices. The Company has maintained high level of integrity and transparency towards compliance of all laws, regulations, rules and guidelines whether provided by any enactment or issued by SEBI.

25. A statement regarding opinion of the Board with regard to integrity, expertise and experience (including the proficiency) of the independent directors appointed during the year.

The Board of Directors have evaluated the Independent Directors appointed during the year 2020-21 and opined that the integrity, expertise and experience (including proficiency) of the Independent Directors is satisfactory.

26. Report on Management Discussion and Analysis

The Management Discussion and Analysis Report for the financial year under review as stipulated under Regulation 34 read with Schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is presented in the separate section forming part of this Annual Report. Annexure E.

27. Registrar and Share Transfer Agents

M/s Skyline Financial Services Private Limited in the capacity of Registrar and Share Transfer Agents of your Company is looking after all the matters relating to shares in transfer and dematerialization.

Members are hereby requested to send their correspondence regarding transfer of shares, Demat of shares and other queries to Registrar and Share Transfer Agents i.e, M/s Skyline Financial Services Private Limited at D-153A, I^st Floor, Okhla Industrial Area, Phase I, New Delhi-110020.

28. Statutory Disclosure

None of the Directors of your Company are disqualified as per the provisions of Section 164 of the Companies Act, 2013. The Directors of your Company has made necessary disclosure as required under various provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

29. Listing of Shares-

The shares of the Company are listed at:

30. Disclosures relating to Schedule V Part F of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Schedule V Part F of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the details in respect of the shares lying in the suspense account till March 31, 2021 is as under:

31. Director's Responsibility Statement

As required under Section 134 of the Companies Act, 2013, the directors would like to state that:

a. In the preparation of Annual Accounts for the period ended as on March 31, 2021 the applicable Accounting Standards have been followed and no material departure has been identified.

b. Accounting policies have been selected 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 ended on March 31, 2021 and of the profit and loss of the company for that period.

c. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the applicable provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities.

d. The Annual Accounts for the Financial Year ended March 31, 2021 have been prepared 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 were 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 system were adequate and were operating effectively.

32. Details in respect of Internal Financial Control

Based on the framework of internal financial controls and compliance systems established and maintained by the Company the work performed by the internal, statutory and secretarial auditors and external consultants including the audit of internal financial controls over financial reporting by the statutory auditors and there views 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 FY 2021.

33. Corporate Social Responsibility

Company do not fall under the mandatory limits set for mandatory corporate social responsibility committee formation and contribution, but company ensures that being part of the society it is the duty to give back to the society and take such efforts to do it.

34. Material changes and commitments, if any affecting the financial position of the Company which have occurred in between the end of the financial year to which the financial statements relates and up to date of this report

There have been no material changes and commitments affecting the financial position of the Company, which have occurred between the end of financial year and the date of this report

35. Disclosure, as to whether maintenance of cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013, is required by the Company and accordingly such accounts and records are made and maintained

Company is not required to maintain the cost records and accounts as specified under section 148 of Companies Act, 2013 as it not applicable on the Company.

36. Policy For Prevention, Prohibition and Redressal of Sexual Harassment of Women at Workplace.

Our policy against sexual harassment is embodied both in the Code of Conduct of the Company as well as also in a specifically written policy in accordance with the sexual harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,2013.

During the financial year 2020-21, no cases in the nature of sexual harassment were reported at workplace of the company. Our policy against sexual harassment is embodied both in the Code of Conduct of the Company as well as also in a specifically written policy in accordance with the sexual harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,2013.

37. The details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year alongwith their status as at the end of the financial year.

There is no application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the financial year 2020-21.

38. The 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 along with the reasons thereof.

During the financial year 2020-21 no valuation was done as the Company has not entered into any one time settlement and also not taken loan from the Banks or Financial Institutions.

39. Conservation of Energy

a) Company ensures that its operations are conducted in the manner where by optimum utilization and maximum possible saving of energy is achieved.

b) No specific investment has been made in reduction in energy consumption.

c) As the impact of measures taken for conservation and optimum utilization of energy are not quantitative its impact on cost cannot be stated accurately.

40. Technology Absorption

In the present global scenario the Company strives to maintain and improve quality of its services and takes appropriate measures to keep pace with fast changing technological innovation.

41. Foreign Exchange Earnings and Out-Go

During the period under review there was no foreign exchange earnings or outflow.

42. A statement indicating development and implementation of a Risk Management Policy for the Company including identification therein of elements of risk, if any, which in opinion of the Board may threaten the existence of the Company

The Company has a well-defined risk management framework in place. Further, it has established procedures to periodically place before the Board, the risk assessment and management measures.

43. Shifting of registered office of the company

On 12^th August, 2020, the Registered office of the Company was shifted from Unit No. 907, 9^th Floor, Pearls Best Heights-I Netaji Subhash Place, Pitampura Delhi, 110034 to Unit Number 205, Aggarwal Corporate Heights, Netaji Subhash Place, New Delhi-110034.

Further, on 1^st April 2021 the Company has again shifted its registered office at New address, from Unit Number 205, Aggarwal Corporate Heights, Netaji Subhash Place, New Delhi-110034 to 906, D-Mall, Netaji Subhash Place, New Delhi-110034.

44. Acknowledgement

Your directors wish to place on record their gratitude in receipt of continued support and co-operation from various take holders including and not limiting to Shareholders, Customers, Institutions, Governmental and Semi-Governmental Agencies, Consultants, Business Associates and Employees of the Company.