The Board of Directors ("Board") of the Company have great pleasure in
presenting the 37th Annual Report and Audited Financial Statements of
the Company for the Financial Year ("FY") ended March 31,2025.

FINANCIAL PERFORMANCE

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

OVERVIEW OF COMPANY
PERFORMANCE

Total Income and Operating Profit
for the year under review
amounted to ? 33,287.97 Lakhs

and ? 2328.32 Lakhs respectively
as compared to ? 31,228.31 Lakhs
and ? 2567.29 Lakhs, in the
previous financial year.

For the financial year 2024-25, the

Company achieved a Net Profit of
?725.08 Lakhs, reflecting
continued profitability and
operational resilience amidst
challenging market conditions, as
compared to ?886.22 Lakhs in the
previous year.

TRANSFER TO RESERVES IN
TERMS OF SECTION 134 (3) (J)

OF THE ACT

There is no amount proposed to be
transferred to General Reserves for
the FY 2024-25.

DIVIDEND

In line with the practice of returning
the surplus funds to shareholders
and based on the Company's
performance, the Board at their
meeting held on May 08, 2025
recommended a final dividend of ?
0.20/- per equity share of the face
value of ? 10 each (@ 2%) for the
FY 2024-25, which is subject to
approval of the members at the
ensuing Annual General Meeting
("AGM") of the Company. The
dividend, if approved at the AGM,
will be paid subject to deduction of
tax at source.

TRANSFER OF UNCLAIMED
DIVIDEND TO INVESTOR
EDUCATION AND PROTECTION
FUND

Pursuant to the provisions of
Section 124 of the Act and Investor
Education and Protection Fund
Authority (Accounting, Audit,
Transfer and Refund) Rules, 2016
(IEPF Rules), the declared
dividends, which remains unpaid or
unclaimed for a period of 7 (seven)
years from the date of its transfer
to unpaid dividend account is
required to be transferred by the
Company to Investor Education
and Protection Fund. Details of
unpaid/unclaimed dividend for the
previous years can be viewed on
the Company's website at
https://www.mitsuchem.com/inve
stors/unpaid-unclaimed-dividend/
CHANGE IN NATURE OF
BUSINESS

There has been no change in
nature of business of the Company
during the year under review.
SUBSIDIARY/ JOINT VENTURE/
ASSOCIATE COMPANY
Mitsu Foundation was
incorporated under the provisions
of Section 8 of the Companies

Act, 2013 on October 18, 2021, as
a Wholly owned Subsidiary
("WoS"). Mitsu Foundation is the
Implementing Agency for
undertaking the CSR activities of
the Company.

The objectives of Mitsu Foundation
includes working in areas of
eradication of hunger, poverty, and
malnutrition, promoting healthcare,
promoting education, helping
different abled persons, promotion
of gender equality, empowerment
of women, promoting sports and
related training, upliftment of poor
and backward classes etc. The
purpose of incorporating WoS is
not to generate profit or any
economic benefit for the Parent.
There is no exposure, or rights, to
variable returns from involvement
with the WoS. Thus, as per Para 7
of Ind AS 110, the Company was
not required to prepare
consolidated financial statements.
The salient features of the financial
statement of WoS in the
prescribed Form AOC-1 forms part
of this Report as “Annexure I”.

The Company does not have any
Joint venture or an Associate
Company.

MATERIAL CHANGES AND
COMMITMENTS

There are no material changes and
commitments affecting the
financial position of the Company
which have occurred between the
end of the F.Y. 2024-25 and the
date of this report.

SHARE CAPITAL

The Company's paid-up Equity
Share Capital Stood at
?1357.79 Lakhs as on March 31,
2025.

During the FY under review, the
Company has not bought back any
of its securities or issued any
Sweat Equity Shares or provided
any Stock Option Scheme to the
employees.

Rights Issue of Equity Shares

During the FY 2023-24, the
Company allotted 15,09,075 partly
paid-up Equity Shares at a price of
? 144 /- each including a share
premium of ?134/-, out of which
?72/- (Rupees Seventy two only)
per Right Equity Share has been
paid-up on application and the
balance ?72 (Rupees Seventy two
only) per Rights Equity Share which

constitutes 50% of the Issue Price,
were received in subsequent call,
as decided by Board/ Rights issue
and Allotment Committee of the
Board, to the eligible applicants on
March 11, 2024, pursuant to the
Right issue.

Final Call

Further, the Board/ Rights issue
and Allotment Committee of the
Board had called for first and final
call money of ?72/- each shares on
1 1 th April, 2024 from its
shareholders.

Forfeiture of Shares:

The Board/Rights issue and
Allotment Committee of the Board
has forfeited 3,719 shares of the
shareholders, who have failed to
pay the first and final call of Rs.
72/- each share.

ANNUAL RETURN

Pursuant to Section 92(3) read
with Section 134(3)(a) of the Act,
the Annual Return of the Company
in Form MGT-7 for FY 2024-25, is
available on the Company's
website at www.mitsuchem.com.

DIRECTORS AND KEY
MANAGERIAL PERSONNEL

Composition of Board

The Board of the Company is duly
constituted in accordance with the
requirements of the Act read with
the SEBI (Listing Obligations and
Disclosure Requirements)
Regulations, 2015 ("Listing
Regulations"). During the year
under review, there were no
changes in the Composition of the
Board.

Retirement by rotation

Mr. Manish Dedhia (DIN:
01552841), Managing Director and
CFO of the Company retires by
rotation at the forthcoming AGM in
accordance with provisions of
Section 152 of the Act and the
Articles of Association of the
Company and being eligible, offers
himself for re-appointment.

The brief resume and other details
relating to Mr. Manish Dedhia who
is proposed to be re-appointed, as
required in accordance to
Regulation 36(3) of the Listing
Regulations and Standard -2 on
General Meetings of Secretarial

Standards issued by Institute of
Company Secretaries of India, is
furnished to the Notice of the 37th
AGM.

Re-appointment of Directors:

The shareholders of the Company
vide posted ballot notice dated
December 7, 2024, approved the
re-appointment of following
directors:

a) Ms. Neha Huddar (DIN:
00092245) as an Independent
Director of the Company for
second term of five years w.e.f.
February 01,2025.

b) Mr. Jagdish L. Dedhia (DIN:
01639945) as Chairman & Whole¬
time Director of the Company for
a further period of three years
w.e.f. May 1,2025.

c) Mr. Sanjay M. Dedhia (DIN:
01552883) as Managing Director
of the Company for a further
period of three years w.e.f. May 1,

2025

d) Mr. Manish M. Dedhia (DIN:
01552841) as Managing Director
and CFO of the Company for a
further period of three years w.e.f.
May 1,2025

Number of meetings of the Board

During the year, Eight Board
meetings were convened and held
in accordance with the provisions
of the Act and the details of which
are given in the Corporate
Governance Report, which forms a
part of this Report.

Board Performance Evaluation

Pursuant to the provisions of the
Act and the applicable provisions
of the Listing Regulations, the
annual performance evaluation
was carried out for the FY 2024 -25
by the Board in respect of its own
performance, the Directors
individually as well as the
evaluation of the working of its
Committees. A structured
questionnaire covering various
aspects of the Board's functioning
such as adequacy of the
composition of the Board and its
Committees, Board culture,
execution and performance of
specific duties, obligations and
governance was prepared and
circulated after taking into
consideration the Guidance note
issued by SEBI vide circular no,
CMD/ CIR/P/2017/004 dated
05.01.2017.

A separate exercise was carried
out to evaluate the performance of
individual Directors including the
Chairman of the Board who were
evaluated on parameters such as
guidance/ support to management
outside Board/ Committee
meetings, degree of fulfilment of
key responsibilities, effectiveness
of meetings etc. The performance
evaluation of the Independent
Directors was carried out by the
entire Board.

The Board expressed their
satisfaction with the evaluation
process.

Independent Directors

The Company has received
declarations from all the
Independent Directors of the
Company affirming compliance
with the criteria of independence
laid under the provisions of Section
149(6) of the Act and under
Regulation 16 (1) (b) of Listing
Regulations.

As per the Companies
(Appointment and Qualifications of
Directors) Fifth Amendment Rules,
2019, all the Independent Directors
of the Company have registered

with the Indian Institute of
Corporate Affairs for inclusion of
their names in the comprehensive
depository maintained by the
Ministry of Corporate Affairs.

As stipulated by the Code of
Independent Directors pursuant to
the Act and the Listing Regulations,
a separate meeting of the
Independent Directors of the
Company was held on February 7,
2025 inter alia to:

(I) Evaluate the performance of
Non-Independent directors
and the Board as a whole;

(ii) Evaluate the performance of
the Chairman and Managing
Directors of the Company; and

(iii) Evaluate the quality, quantity
and timelines of flow
of information between the
executive management and
the Board.

All Independent Directors were
present at the meeting. The
Directors expressed their
satisfaction with the evaluation
process.

Familiarization Program for
Independent Directors

All Independent Directors are
familiarized with the operations
and functioning of the Company.
The details of the training and
familiarization program are
provided in the Corporate
Governance Report forming part of
this Report.

Key Managerial Personnel

As on 31st March, 2025,Mr.
Manish Dedhia, Managing Director
& Chief Financial Officer and Ms.
Swechha Shende, Company
Secretary & Compliance Officer are
the Key Managerial Personnel of
the Company.

Ms. Ankita Bhanushali, Company
Secretary & Compliance Officer
has resigned from the post of
Company Secretary & Compliance
Officer of the Company with effect
from 13th December, 2024.

Ms. Swechha Shende, has been
appointed as a Company Secretary
& Compliance Officer of the
Company with effect from 11th
March, 2025.

COMMITTEES OF THE BOARD

With a view to have a more

focused attention on various
facets of business and for better
accountability, the Board has
constituted various committees.
The statutorily mandated
committees constituted under the
provisions of the Act and Listing
Regulations are Audit Committee,
Nomination and Remuneration
Committee, Stakeholders'
Relationship Committee and
Corporate Social Responsibility
Committee.

The Committees have been
mandated to operate within their
terms of reference, approved by
the Board to focus on the specific
issues and ensure expedient
resolution on diverse matters.

The composition, committee
meeting held, terms of reference
and other details of the above
mentioned committees are
provided in the Corporate
Governance Report forming part of
this Report.

Whistle Blower Policy /Vigil
Mechanism

As per the provisions of Section
177(9) and (10) of the Act and
Regulation 22 of the Listing
Regulations, the Company has

adopted a Whistle Blower Policy
for establishing a vigil mechanism
for Directors and Employees to
report genuine concerns about
unethical behaviour, actual or
suspected fraud or violation of the
Company's Code of Conduct and
provide adequate safeguards
against victimization of persons
who use such mechanism and
makes provision for direct access
to the chairman of the Audit
Committee in appropriate or
exceptional cases. The said policy
has been hosted on the Company's
website at www.mitsuchem.com.

Remuneration Policy

Pursuant to the provision of
Section 178 of the Act and
Regulation 19 of Listing
Regulations, the Board has, on the
recommendation of the
Nomination and Remuneration
Committee framed a policy relating
to remuneration of the Directors,
Key Managerial Personnel, Senior
Management Personnel and other
employees, along with the criteria
for appointment and removal of
the Directors, Key Managerial
Personnel and Senior Management
Personnel of the Company. The
said policy is available on the

website of the Company
at www.mitsuchem.com.

DIRECTORS' RESPONSIBILITY
STATEMENT:

Pursuant to the provisions of
Section 134(3) (c) read with
Section 134(5) of the Act, the
Directors of the Company state
and confirm that:

a. In the preparation of the annual
accounts for the financial year
2024-25, the applicable
accounting standards had been
followed and there are no
material departures from the
same;

b. 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 as at March 31, 2025
and of the profit and loss of the
company for that period;

c. 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;

d. The directors had prepared the
annual accounts on a going
concern basis;

e. 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; and

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

PARTICULARS OF LOANS,
GUARANTEE AND
INVESTMENTS:

The particulars of loans,
guarantees and investments as
per Section 186 of the Act read
with the Companies (Meeting of
Board and its powers) Rules, 2014
as on March 31, 2025 have been
disclosed in the Notes to the
Financial Statements of the
Company.

CORPORATE SOCIAL
RESPONSIBILITY

As a part of its initiative under the
Corporate Social Responsibility

("CSR") drive, the Company,
through the Corporate Social
Responsibility Committee of Board
of Directors, has undertaken
projects in accordance with
Schedule VII of the Act and the
Company's CSR policy. The Report
on CSR activities as required under
the Companies (Corporate Social
Responsibility Policy) Rules, 2014
is annexed and marked as
'Annexure-N' which forms a part of
this Report.

ENERGY CONSERVATION,
TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNINGS
AND OUTGO:

The details of conservation of
energy, technology absorption and
foreign exchange earnings and
outgo as required under section
134(3)(m) of the Act read with Rule
8(3) of the Companies (Accounts)
Rules, 2014, are as below:

A. CONSERVATION OF ENERGY

The Company is making
continuous efforts on ongoing
basis to conserve the energy by
adopting innovative measures to
reduce wastage and optimize
consumption. Some of the
specific measures undertaken
are:

(I) Steps taken or impact on
conservation of energy:

The company has taken various
initiatives to conserve the energy
by adopting innovative measures
to reduce wastage and optimize
consumption
A) TOC concept

1) Optimization of Cycle time by
all means

2) Reduce setup time by
implement SMED concept

3) Logical Buffer Management

4) Supply Chain Management

5) Exploitation

(ii) Steps taken by the company
for utilizing alternate sources
of energy including waste
generated:

During the year the company
procured CNG material transport
vehicle of 8.25MT capacity.

(1) Electric Bikes

(2) CNG Tampos

(iii) The capital investment on
the energy conservation
equipment's: NIL

B. TECHNOLOGY ABSORPTION,
ADAPTION AND INNOVATION

(i) The efforts made towards
technology absorption:

The steps taken by the
company are:

1. Auto Capping machine.

2. IR Dryer Machine.

3. Post Cooling Device

4. Shrink Tunnel Machine

5. IML (In mould Labling machine)

(ii) The benefits derived like
product improvement, cost
reduction, product
development or import
substitution:

APFC Hybrid filter pannel,
make Power Matrix
purchased to improve power
quality and imporve power
factor.

(iii) The details of Imported
Technology (imported during
the last three years reckoned
from the beginning of the
financial year):

Not Applicable.

(iv) The expenditure incurred on
Research & Development:

? 0.56 Lakhs

C. FOREIGN EXCHANGE EARNING
AND OUTGO:

CODE OF CONDUCT FOR
PREVENTION OF INSIDER
TRADING

In compliance with the provisions
of the Securities and Exchange
Board of India (Prohibition of
Insider Trading) Regulations, 2015,
as amended, the Company has
formulated and adopted the "Code
of Conduct to regulate, monitor
and report trading by designated
persons in Listed or Proposed to
be Listed Securities" of the
Company ("the Insider Trading
Code"). The object of the Insider
Trading Code is to set framework,
rules and procedures which all
concerned persons should follow,
while trading in listed or proposed
to be listed securities of the
Company. The Company has also
adopted the Code of Practice and

Procedures for Fair Disclosure of
Unpublished Price Sensitive
Information ("the Code") in line
with the SEBI (Prohibition of Insider
Trading) Amendment Regulations,
2018 and formulated a Policy for
determination of 'legitimate
purposes' as a part of the Code.
The Code also includes policy and
procedures for inquiry in case of
leakage of Unpublished Price
Sensitive Information (UPSI) and
aims at preventing misuse of UPSI.
The Code is available on the
Company's website at
www.mitsuchem.com. The
Company Secretary appointed
serve as the Compliance Officer to
ensure compliance and effective
implementation of the Insider
Trading Code. Matters related to
insider trading code are reported to
the Audit Committee.

RISK MANAGEMENT

The Audit Committee has been
delegated the responsibility for
monitoring and reviewing risk
management, assessment and
minimization procedures,
developing, implementing and
monitoring the risk management
plan and identifying, reviewing and
mitigating all elements of risks
which the Company may be
exposed to.

APPLICATION / PROCEEDING
PENDING UNDER THE
INSOLVENCY AND BANKRUPTCY
CODE, 2016 (“IBC")

During the year under review,
application was made under IBC by
your Company against Cypet
Technologies India Pvt. Ltd. and
proceeding is pending under IBC.

DISCLOSURE ON ONE
TIME SETTLEMENT

During the year under review, the
Company has not entered into any
one-time settlement with the
Banks or Financial Institutions who
have extended loan or credit
facilities to the Company.

SIGNIFICANT AND MATERIAL
ORDERS PASSED BY THE
REGULATORS OR COURTS

During the year under review, there
are no significant and material
orders passed by the regulators /
Courts that would impact the going
concern status of the Company
and its future operations.

AUDITORS

a) Statutory Auditors & their
Report

Pursuant to the provisions of
Section 139 of the Companies Act,
2013 and rules made thereunder,
M/s. Gokhale & Sathe, Chartered
Accountants (Firm Registration
No. 103264W) were appointed as
Statutory Auditor of the Company
at the 32nd Annual General
Meeting held on September 9,
2020, for a period of five (5)
consecutive years from the
conclusion of that AGM till the
conclusion of the 37th AGM.

The Board of Directors at their
meeting held on 08th May, 2025
have proposed to reappoint M/s.

Gokhale & Sathe, Chartered
Accountants (Firm Registration
No. 103264W) as Statutory
Auditors of the Company for the
consecutive second term of 5
years, subject to approval of
shareholders at the ensuing
Annual General Meeting, from
the 37th Annual General Meeting
till the conclusion of the 42nd
AGM.

'M/s. Gokhale & Sathe, Chartered
Accountants have submitted their
Report on the financial statements
of the Company for the FY ended
March 31, 2025, which forms part
of this Report and it does not
contain any reservation,
qualification or adverse remark.
The comments in the Auditors'
Report read with notes to the
accounts are self-explanatory.

b) Secretarial Auditor & their
Report

Pursuant to the provisions of
Section 204 of the Act read
with the Companies
(Appointment & Remuneration
of Managerial Personnel)

Rules, 2014, the Company had
appointed Mr. Haresh Sanghvi,
Practicing Company Secretary
(CoP No. 3675), for conducting
Secretarial Audit of the
Company for the FY ended
March 31,2025.

Secretarial Audit Report issued
by Mr. Haresh Sanghvi in Form
MR-3 forms part to this Report
as "Annexure- III”. The said
report does not contain any
observation or qualification
requiring explanation or
adverse remark.

A Secretarial Compliance
Report for the FY ended March

31, 2025 on compliance of all
applicable SEBI regulations
and circulars/guidelines issued
thereunder, was obtained from
Mr. Haresh Sanghvi, Practising
Company Secretary, and
submitted to the stock
exchange.

Further, the Board of Directors of
the Company has appointed Mr.
Haresh Sanghvi, Practicing
Company Secretary (M. No.
2259/CoP: 3675), as the
Secretarial Auditor of the
Company for the period of 5
(five) consecutive years from
Financial year 2025-26 till
Financial year 2029-30 to carry
out the audit of secretarial and
related records of the Company,
subject to the approval of
Shareholders in the ensuing
Annual General Meeting of the
Company.The Company has
received consent letter along
with peer reviewed certificate
from Mr. Haresh Sanghvi to act
as the Secretarial Auditor for
conducting an audit of the
secretarial records of the
Company for the period of 5
(five) consecutive years.

c) Internal Audit

Pursuant to the provisions of
Section 138 of the Act read with
the Companies (Accounts)

Rules, 2014, the Company's
internal auditors have furnished
quarterly reports which were
pursued by Audit committee as
well as Board of Directors.

d) Reporting of Frauds

There was no instance of fraud
during the year under review,
which required the Auditors to
report to the Audit Committee
and / or Board under Section
143(12) of Act and Rules framed
thereunder.

DISCLOSURE UNDER
PREVENTION OF SEXUAL
HARASSMENT OF WOMEN AT
WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL)
ACT:

The Company has adopted a
Sexual Harassment Policy on
prevention, prohibition and
redressal of sexual harassment at
workplace in line with the
provisions of Sexual Harassment
of Women at Workplace
(Prevention, Prohibition and
Redressal) Act, 2013 and the Rules
made thereunder. The aim of the
policy is to provide protection to
employees at the workplace and
prevent and redress complaints of
sexual harassment and for matters

connected or incidental thereto,
with the objective of providing a
safe working environment, where
employees feel secure. The Policy
is available at the Registered Office
of the Company and is accessible
to all the employees of the
Company. The Company has not
received any complaint during the
FY under review.

PUBLIC DEPOSITS

During the year under review, your
Company has not accepted any
deposits within the meaning of
Sections 73 to 76A of the Act read
with the Companies (Acceptance
of Deposits) Rules, 2014.

MANAGEMENT DISCUSSION AND
ANALYSIS REPORT

The Management Discussion and
Analysis Report for the year under
review as required under
Regulation 34 read with Schedule
V of the Listing Regulations is
annexed to this Report as
"Annexure-IV”.

CORPORATE GOVERNANCE

Report on Corporate Governance
and Certificate of the Auditor of the
Company regarding compliance of
the conditions of Corporate
Governance as stipulated in Part C

of Schedule V of the Listing
Regulations, are provided in a
separate section forming part of
this Report as "Annexure V”.

INTERNAL CONTROL SYSTEM
AND THEIR ADEQUACY

The Company has in place
adequate internal financial
controls with reference to the
financial statements. Internal
audits are undertaken on a
quarterly basis by Internal Auditors
covering all units and business
operations to independently
validate the existing controls.
Reports of the Internal Auditors
are regularly reviewed by the
management and corrective action
is initiated to strengthen the
controls and enhance the
effectiveness of the existing
systems. The Audit Committee
evaluates the efficiency and
adequacy of the financial control
system in the Company and
strives to maintain the standards
in the Internal Financial Control.

PARTICULARS OF CONTRACTS
OR ARRANGEMENTS WITH
RELATED PARTY
TRANSACTIONS

All transactions entered into with
related parties as defined under
the Act during the F.Y. were in the

ordinary course of business and on
an arm's length pricing basis and
do not attract the provisions of
Section 188 of the Act. There were
no materially significant
transactions with the related
parties during the F.Y. which were
in conflict with the interest of the
Company and hence, enclosing
Form AOC-2 is not required.
Suitable disclosure as required by
the Accounting Standard (AS 18)
has been made in the notes to the
Financial Statements.

PARTICULARS OF EMPLOYEES:

Disclosures pertaining to
remuneration and other details are
required under Section 197(12) of
the Act read with Rule 5(1) and
5(2) of the Companies
(Appointment and Remuneration
of Managerial Personnel) Rules,
2014 forms part of this Report as
"Annexure VI".

During 2024-25, no employee,
whether employed for whole or
part of the year, was drawing
remuneration exceeding the limits
mentioned under Section 197(12)
of the Act read with Rule 5(2) of
the Companies (Appointment and
Remuneration of Managerial
Personnel) Rules, 2014.

BUSINESS RESPONSIBILITY AND
SUSTINABLE REPORTING (BRSR)

As stipulated under regulation
34(2)(f) of the SEBI (Listing
Obligations and Disclosure
Requirements) Regulations, 2015,
the business responsibility and
sustainability report describing the
initiatives taken by the company
from an environmental, social, and
governance perspective is
enclosed and forms part of the
annual report as Annexure VII".

The SEBI (LODR) Regulations, 2015
mandate the inclusion of the BRSR
as part of the Annual Report for top
1 000 listed entities based on
market capitalization. The
company is Voluntarily adopting
the same.

STATUTORY COMPLIANCE

The Company has complied with
all the statutory requirements. A
declaration regarding compliance
of the provisions of the various
statutes is also made by the
Managing Director. The Company
ensures compliance of the
Companies Act, 2013, Listing
Regulations and various statutory
authorities on quarterly basis in the
Board Meeting. Compliance with
Secretarial Standards During the
year under review, the Company
has complied with all the

applicable mandatory Secretarial
Standards.

COMPLIANCE WITH
SECRETARIAL STANDARDS

The Company has complied with
the applicable mandatory
Secretarial Standards.

APPRECIATION &
ACKNOWLEDGEMENTS

The Board wishes to express its
gratitude and record its sincere
appreciation for the commitment
and dedicated efforts put in by all
the employees of the Company.
The Directors take this opportunity
to express their grateful
appreciation for the
encouragement, cooperation and
support received from all the
stakeholders including but not
limited to the Government
authorities, bankers, customers,
suppliers and business associates.
The Directors are thankful to the
esteemed shareholders for their
continued support and the
confidence reposed in the
Company and its management.

For and on behalf of the Board of Directors of
Mitsu Chem Plast Limited
Jagdish Dedhia

Chairman & Whole-Time Director
DIN: 01639945

Date: 08th May, 2025
Place: Mumbai