Churiwala Securities Pvt. Ltd. - leading and respected retail broking in India with over 3 decades of experience in creating wealth for investors with expertise in personalised investment planning in Equities / Portfolio Advisory for HNI & Retail clients.

Shivchem Agro Ltd			Industry : Pesticides / Agrochemicals - Indian


BSE Code:	544967	NSE Symbol:	Not Listed	P/E(TTM):	0

ISIN Demat:	INE18CU01023	Div & Yield %:	0	EPS(TTM):	0

Book Value(Rs):	35.7530698	Market Cap ( Cr.):	24.88	Face Value(Rs):	5

Change Company

To, The Members,

SHIVCHEM AGRO LIMITED

(Formerly known as Shivchem Agro Private Limited)

Your Board of Directors ("the Board") is pleased to present the ‘Fifth Board Report' of the Company on the business and operations of the Company together with the Audited Financial Statements for the financial year ended March 31,2026.

FINANCIAL PERFORMANCE OF THE COMPANY

The Company's financial performance is as follows:

(Rs. In Lakhs)

Particulars	For the Year Ended
	March 31, 2026	March 31, 2025
Revenue from Operations	3,381.59	2,746.50
Finance Income	0.17	3.83
Other Income	2.10	-
Total Income (A)	3,383.86	2,750.33
Cost of material consumed	1,543.35	2,015.25
(Increase/ Decrease in inventory of work-in-progress and finished goods	323.34	(491.46)
Employee benefit expenses	392.12	334.03
Depreciation and amortization	26.44	0.26
Finance costs	133.91	71.97
Other Expenses	524.74	472.29
Total Expenses (B)	2,943.90	2,402.34
Profit/ (Loss) Before Tax [C = (A-B)]	439.96	347.99
Current Tax	115.17	78.78
Deferred Tax	3.78	8.57
Tax Expense for Previous Year	2.03	-
Total Tax Expenses (D)	120.98	87.35
Profit/ (Loss) for the year [C-D]	318.98	260.64

PERFORMANCE REVIEW

During the year, your Company achieved total income ol' Rs. 3,383.86 lakhs as compared to Rs. 2,750.33 lakhs in the previous year, representing an increase of approximately 23.03%. The Company earned a profit aftertax of Rs. 318.98 lakhs as compared to Rs. 260.64 lakhs in the previous year, representing an increase of approximately 22.38%.

BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE YEAR/ STATE OF COMPANY'S AFFAIR

The operations of the Company during the financial year under review were satisfactory. The Board continued to review the business operations and formulate strategies for the growth and expansion of the Company.

CHANGE IN NATURE OF BUSINESS IF ANY

During the year under review, there has been no change in the nature of business of the Company.

DIVIDEND

The Board of Directors has considered it prudent to retain the profits for the purpose of business growth and expansion. Accordingly, no dividend has been recommended for the financial year ended March 31, 2026.

TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

Pursuant to provisions of the Act read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, as amended, (‘Rules'), the dividend which remains unclaimed or unpaid for a period of seven years from the date of transfer to the Unpaid Dividend Account of the Company and shares on which dividend are unclaimed or unpaid for a consecutive period of seven years or more are liable to be transferred to IEPF.

No amount was transferred to Investor Education and Protection Fund as there is no unclaimed dividend.

TRANSFER TO RESERVES

The Company had not transferred any sum to reserves during the financial year ended March 31, 2026.

ANNUAL RETURN

Pursuant to Section 92 of the Act and Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return is available on the website of the Company on the following link at https://shivchemagro.com/Annual%20Return.php

The Annual Return for the financial year 2025-26 shall be placed on the website within the prescribed time after filing with the Registrar of Companies.

MATERIAL CHANGES AND COMMITMENTS. IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THE FINANCIAL STATEMENTS RELATES AND THE DATE OF THE REPORT

There have been no material changes or commitments affecting the financial position of the Company between the end of the financial year under review and the date of this Report.

SIGNIFICANT EVENTS DURING THE FINANCIAL YEAR Shifting of Registered Office

The Company shifted its Registered Office with effect from April 23, 2025, from Unit No. B-307, 3rd Floor, North Ex Mall, Rohini Sector-9, Rohini Sec-11, Delhi, India - 110085 to Unit No. 703, 704, Amba Tower, Plot No. 2, Community Centre, D.C. Chowk, Sector-9, Rohini Sec-11, North West Delhi, Delhi, India - 110085.

The Directors of the Company were severally authorised to sign and file e-Form INC-22 and such other forms, documents and papers as may be required in connection with the aforesaid shifting of the Registered Office and to undertake all necessary acts, deeds and things in this regard. The requisite statutory filings and approvals, as applicable, were duly completed/obtained in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder.

Appointment of Mr. Rajeev Gupta as Non-Executive & Independent Director of the company

Mr. Rajeev Gupta was appointed as an Additional Director of the Company with effect from April 03, 2025 and was subsequently regularised and appointed as a Non-Executive Independent Director by the Members at the Extraordinary General Meeting held on April 04, 2025.

Further, Mr. Sachin Agarwal (DIN: 09316310), Managing Director, and Mr. Rohit Agarwal (DIN: 06693300), Director of the Company, were severally authorised to execute the necessary documents, complete the requisite statutory filings with the Registrar of Companies and undertake all such acts, deeds and things as may be necessary in connection with the aforesaid appointment.

Submission of DRHP and In-principle approval from BSE-SME

The Company continued to undertake the necessary steps in connection with its proposed Initial Public Offer ("IPO") on the SME Platform of BSE Limited ("BSE"). The proposal to proceed with the IPO comprising a Fresh Issue of upto 23,80,800 Equity Shares of the Company was authorised by a resolution of the Company Board dated June 24, 2025 and by the shareholders' resolution adopted pursuant to the Section 23 of the Companies Act, 2013 at general meeting held on June 25, 2025.

Further, the board of director, at its meeting held on September 29, 2025, approved the Draft Red Herring Prospectus ("DRHP") dated September 29, 2025 and authorised to make an application to the BSE Limited for in-principle approval for listing of the Equity Shares of the Company on the SME Platform of BSE Limited.

BSE, vide its approval letter dated December 29, 2025, granted in-principle approval vide reference no. LO/SME- lPO\MM\IP\617\2025-26 for listing of the Company's Equity Shares on the BSE SME Platform.

INFORMATION ABOUT SUBSIDIARY/ JOINT VENTURE / ASSOCIATE COMPANY

The Company does not have any Subsidiary Company, Joint Ventures and Associate Company as required to be disclosed in terms of provisions of Section 134(3)(q) of the Companies Act, 2013 read with Rule 8 the Companies (Accounts) Rules, 2014.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE:

During the financial year under review, no significant or material order was passed by any regulator, court or tribunal which could impact the Company's going concern status or materially affect its operations or future business.

DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE

TO THE FINANCIAL STATEMENTS

The Board is of the opinion that there exists an adequate internal financial control with reference to the financial Statements & which are commensurate with the size and operations of the Company.

During the financial year under review, such controls were tested and no reportable material weakness in the design or operation was observed.

RISK MANAGEMENT POLICY

The Company has developed and implemented a Risk Management Policy commensurate with the size, nature and complexity of its operations. The Risk Management Policy was approved by the Board of Directors at its meeting held on June 24, 2025.

The Policy provides a framework for identification, assessment, monitoring and mitigation of various risks associated with the business and operations of the Company. The Board of Directors periodically reviews the risk management framework and takes appropriate measures for mitigation of identified risks.

In the opinion of the Board, there are no risks which may threaten the existence of the Company.

BUY BACK OF SECURITIES

The Company did not carry out buy back of any securities during the year under review.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

As at March 31, 2026, the Company's Board comprised of 5 (Five) Directors. Besides the Chairperson & Executive Director and Managing Director, the Board consists of 2 (Two) Independent Directors and 1 (Non - Executive Director). The details of the above composition of the Board of Directors and Key Managerial Personnels have been provided below:

Mr. Sachin Agarwal (DIN: 09316310)	Managing Director
Mr. Rohit Agarwal (DIN: 06693300)	Chairman & Executive Director
Mrs. Deepa Agarwal (DIN: 10777841)	Non-Executive Director
Ms. Ayushi Sharma(DIN: 10576765)	Non-Executive and Independent Director
Mr. Rajeev Gupta (DIN: 10869321)	Non-Executive and Independent Director
Mrs. Monika Sharma (ACS: A66578)	Company Secretary
Mr. Jatin Bansal (PAN: BMPPB4068R)	Chief Financial Officer up to March 31, 2026

Changes in Key Managerial Personnel

The Board of the Company approved the following appointment and cessation during the financial year under review and after the end of the financial year:

(a) Resignation of Chief Financial Officer of the company

During the year, Mr. Jatin Bansal (PAN: BMPPB4068R), who was appointed as the Chief Financial Officer (CFO) of the Company effective from September 17, 2024 resigned from the position of Chief Financial Officer with effect from the close of business hours on March 31,2026. The Board took note of and accepted his resignation at the Board Meeting held on April 01, 2026 and authorized any Director to complete the necessary filings and formalities with the Registrar of Companies.

(b) Appointment of Chief Financial Officer of the company

After the closure of the Financial Year, based on the recommendations of the Audit Committee and the Nomination and Remuneration Committee, the Board considered and approved the appointment of Mr. Pawan Kumar Agrawal (PAN: AAMPA9879R) as the Chief Financial Officer (CFO) of the Company with effect from May 28,2026, on such terms and conditions as approved by the Board. The Board further authorized any Director to complete the necessary filings and other formalities with the Registrar of Companies.

Mrs. Deepa Agarwal (DIN: 10777841), Non-Executive Director of the Company, was re - appointed at the 5th Annual General Meeting of the Company who was eligible for retire by rotation.

MANAGERIAL REMUNERATION

The remuneration of Mr. Sachin Agarwal, Managing Director of the Company, was fixed at Rs. 6 lakh per annum, as approved by the members at the Extraordinary General Meeting (EGM) held on December 24, 2024, and the same continued during F.Y. 2025-26.

Further, the remuneration of Mr. Rohit Agarwal, Executive Director of the Company, was fixed at Rs. 6 lakh per annum and the same continued during F.Y. 2025-26.

MEETINGS OF THE BOARD OF DIRECTORS HELD DURING THE FINANCIAL YEAR

During the financial year ended March 31, 2026, a total of 14 Board Meetings were held on the April 03, 2025, April 23, 2025, May 23, 2025, June 24, 2025, August 26, 2025, September 25, 2025, September 29,2025, October 01,2025, November 14, 2025, December 11, 2025, December 29, 2025, January 06, 2026, February 16, 2026, and March 20, 2026.

The gap between any two consecutive meetings did not exceed the period prescribed under the Companies Act, 2013 and Secretarial Standard - 1 on Meetings of the Board of Directors

BOARD COMMITTEES OF THE COMPANY

To facilitate focused oversight and effective governance, the Board has constituted the following Committees in accordance with the provisions of the Act pursuant to a resolution passed by the Board on June 24, 2025:

• Audit Committee

• Nomination and Remuneration Committee

• Stakeholders' Relationship Committee

The composition of the Committees of the Board as on the date of this Report is as follows:

Audit Committee

The Audit Committee comprises the following Directors:

Name of Director	Designation	Nature of Directorship
Ms. Ayushi Sharma	Chairperson	Non-Executive & Independent Director
Mr. Rajeev Gupta	Member	Non-Executive & Independent Director
Mr. Sachin Agarwal	Member	Managing Director

During the financial year 2025-26, the Audit Committee met 4 (Four) times on June 28, 2025, September 25, 2025, October 01, 2025, and December 11, 2025.

Nomination and Remuneration Committee

The Nomination and Remuneration Committee comprises the following Directors:

Name of Director	Designation	Nature of Directorship
Ms. Ayushi Sharma	Chairperson	Non-Executive & Independent Director
Mr. Rajeev Gupta	Member	Non-Executive & Independent Director
Mrs. Deepa Agarwal	Member	Non-Executive Director

During the financial year 2025-26, the Committee met on February 12, 2026. Stakeholders' Relationship Committee

The Stakeholders Relationship Committee comprises the following Directors:

Name of Director	Designation	Nature of Directorship
Mr. Rajeev Gupta	Chairperson	Non-Executive & Independent Director
Mr. Sachin Agarwal	Member	Managing Director
Mr. Rohit Agarwal	Member	Executive Director

During the financial year 2025-26, the Committee met on February 12, 2026.

INDEPENDENT DIRECTORS MEETING

In accordance with Schedule IV to the Companies Act, 2013, a separate meeting of the Independent Directors was held on February 12,2026, without the presence of the Non-Independent Directors and members of the Management.

BOARD EVALUATION

The provisions of Section 134(3)(p) read with Rule 8(4) of the Companies (Accounts) Rules, 2014 are not applicable to the Company for the financial year under review, as the Company is an unlisted public company and its paid-up share capital as at the end of the preceding financial year was below the prescribed threshold of Rs. 25 crore. Accordingly, the requirement to include a statement on formal annual evaluation of the performance of the Board, its committees and individual Directors docs not apply to the Company for the year under review.

DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

The provisions relating to Corporate Social Responsibility under Section 135 of the Companies Act, 2013 are not applicable to the Company for the financial year under review, as the prescribed thresholds are not met. Accordingly, the Company has not developed or implemented any Corporate Social Responsibility initiatives during the year.

COMPANY'S POLICY RELATING TO DIRECTORS' APPOINTMENT, PAYMENT OF REMUNERATION ETC

The Company has formulated a Nomination and Remuneration Policy in accordance with the applicable provisions of the Companies Act, 2013, which, inter alia, provides the framework for appointment and remuneration of Directors, Key Managerial Personnel and Senior Management Personnel, and lays down the criteria for determining their qualifications, positive attributes and independence.

The Nomination and Remuneration Committee, wherever applicable, considers and recommends to the Board the appointment and remuneration of Directors and Key Managerial Personnel in accordance with the provisions of the said Policy and applicable laws.

DECLARATION FROM THE NON-EXECUTIVE & INDEPENDENT DIRECTORS

The Non-Executive & Independent Directors have individually declared to the Board that they meet the criteria of independence as provided in Section 149(6) of the Companies Act, 2013 at the time of their respective appointment and there is no change in the circumstances as on the date of this report which may affect their status as an Independent Director. The declarations as per Section 149(7) of the Companies Act, 2013 for F. Y. 2025-26 have been duly received from all Independent Directors in the first Board meeting held during the financial year.

In the opinion of the Board, there has been no change in the circumstances which may affect their status as Independent Directors of the Company and the Board is satisfied of the integrity, expertise, and experience (including proficiency in terms of Section 150(1) of the Act and applicable rules thereunder) of all Independent Directors on the Board. Further, in terms of Section 150 read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014, as amended, Independent Directors of the Company have included their names in the data bank of Independent Directors maintained with the Indian Institute of Corporate Affairs.

COMPLIANCE OF SECRETARIAL STANDARDS

During the year under review, the Company has complied with the applicable Secretarial Standards, i.e., SS-1 and SS- 2 issued by the Institute of Company Secretaries of India.

REPORTING OF FRAUDS BY AUDITORS

There are no frauds reported by the Auditors during the year in terms of the provisions of Section 143(12) of the Companies Act, 2013.

DIRECTORS' RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 134(3)(c) and 134(5) of the Companies Act, 2013 the Board of Directors confirms that:

a) In the preparation of the annual accounts for the year ended March 31, 2026 the applicable accounting standards had been followed and there are no material departures from the same;

b) Accounting policies have been selected and applied consistently and judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company for the year ended March 31,2026 and of the profit and loss of the Company for that period.

c) Proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 have been taken for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) The annual accounts for the year ended March 31,2026 have been prepared on a going concern basis and;

e) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

STATUTORY AUDITORS

M/s VMSM & Co., Chartered Accountants (FRN-329962E), having their office at 41/A, AJC Bose Road, Diamond Prestige, Suite No-115, 1st Floor, Nonapukur Tram Depot, West Bengal - 700017, continue to be the Statutory Auditors of the Company for a term of five (5) consecutive years commencing from the conclusion of the Annual General Meeting held for the financial year 2024-25 and continuing until the conclusion of the Annual General Meeting to be held for the financial year 2029-30.

BOARD'S EXPLANATIONS OR COMMENTS ON QUALIFICATION, RESERVATION & ADVERSE REMARKS OR DISCLAIMER MADE BY STATUTORY AUDITORS

There is no qualification, reservation or adverse remark or disclaimer made by the Statutory Auditors in their report. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

Pursuant to Section 186 of the Companies Act, 2013, the particulars of loans, guarantees and investments covered under Section 186, if any, have been disclosed in the financial statements.

PARTICULARS OF CONTRACT OR ARRA1NGEMENTS WITH RELATED PARTIES AS PER SECTION 188 OF THE COMPANIES ACT, 2013

The related party transactions entered into by the Company during the reporting period were, as applicable, in the ordinary course of business and on an arm's length basis. The particulars required under Section 188 of the Companies Act, 2013 read with Rule 8(2) of the Companies (Accounts) Rules, 2014 are set out in Form AOC-2 annexed to this Report as Annexure-A.

SHARE CAPITAL

(^a) Sweat Equity

The Company has not issued any Sweat Equity Shares during the year under review.

(b) Employees Stock Option Plan

During the year, the Company has not granted any stock options.

The Company has not issued any Equity shares with differential rights during the period under review.

(d) Increase in Authorised Share Capital

There was no increase in the Authorised Share Capital of the Company during the financial year under review.

(e) Increase in Issued, Subscribed & Fully Paid-up share Capital

There was no increase in the issued, subscribed and fully paid-up share capital of the Company during the financial year under review.

DEPOSITS

The Company has not accepted any deposits from the public within the meaning of Sections 73 to 76 ofthe Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014 during the financial year under review.

Further, the Company has not accepted any amounts which are deemed to be deposits.

During the year under review, the Company had accepted unsecured loan from Director, which have been duly disclosed in the financial statements and are in compliance with the applicable provisions of the Companies Act, 2013 and relevant rules made thereunder.

PARTICULARS OF EMPLOYEES AND REMUNERATION

The provisions of Section 197(12) of the Companies Act, 2013 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 relating to disclosure of particulars of employees and remuneration are not applicable to the Company for the financial year under review.

Accordingly, the Company is not required to make the disclosures prescribed under Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in the Board's Report for the financial year under review.

DISQUALIFICATIONS OF DIRECTORS UNDER SECTION 164

There is no such Director in the company who is disqualified under section 164.

PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars as required under the provisions of Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 in respect of conservation of energy and technology absorption & foreign Exchange Earning and Outgo are as follows:

A. Conservation of energy:

(i) The steps taken or impact on conservation of energy:

The Company endeavours to conserve energy in its agrochemical manufacturing operations through efficient utilisation of plant and machinery, regular preventive maintenance, and optimum use of electricity and other energy resources to minimise energy consumption and losses.

(ii) The steps taken by the company for utilizing alternate sources of energy: Nil

(iii) The capital investment on energy conservation equipment: Nil

B. Technology absorption:

(i) The efforts made towards technology absorption: Nil

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

(iii) In case of imported technology (imported during the last three years reckoned from the beginning of the financial year): N/A

a) The details of technology imported: N/A

b) The year of import: N/A

c) Whether the technology been fully absorbed:-N/A

d) If not fully absorbed, areas where absorption has not taken place, and the reasons thereof: N/A

e) The expenditure incurred on Research and Development: Nil

C. Foreign exchange earnings and Outgo- Nil

DETAILS OF DEPOSITS WHICH ARE NOT IN COMPLIANCE WITH THE REQUIREMENTS OF CHAPTER V OF THE ACT

Since the Company has not accepted any deposits during the financial year under review, the requirement to disclose details of deposits not in compliance with Chapter V of the Companies Act, 2013 is not applicable.

DEMATERIALISATION OF EQUITY SHARES

As at March 31,2026,100% of the Company's equity shares were held in dematerialised form. The International Securities Identification Number (ISIN) for the equity shares of the Company is INE18CU01023.

SECRETARIAL AUDIT REPORT

The provisions of Section 204 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are not applicable to the Company for the financial year under review, as the Company does not fulfil the prescribed threshold criteria of paid-up share capital or turnover as on the last date of the latest audited financial statements. Accordingly, the requirement to obtain and annex a Secretarial Audit Report does not apply to the Company for the year under review.

DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 DURING THE YEAR ALONG WITH THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR.

During the year under review, no application was made, nor were any proceedings pending against the Company under the Insolvency and Bankruptcy Code, 2016.

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

The Company has complied with the provisions relating to the constitution of the Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The Internal Committee has been duly constituted in accordance with the requirements of the Act to redress complaints received regarding sexual harassment. The Company has also adopted a policy on prevention, prohibition and redressal of sexual harassment at workplace and ensures a safe, secure and conducive working environment for all employees.

During the year under review, the Company had not received any complaint on sexual harassment and no complaint was pending as on March 31, 2026. No complaint remained pending for more than 90 days as at March 31, 2026.

The table below provides details of complaints received/ disposed during the financial year 2025 - 2026:

Number of complaints received during the year	NIL
Number of complaints disposed of during the year	NIL
Number of complaints pending at the end of the year exceeding ninety days	NIL

COST RECORDS AS SPECIFIED BY THE CENTRAL GOVERNMENT UNDER SUB-SECTION (1) OF SECTION 148 OF THE COMPANIES ACT, 2013.

The provisions relating to maintenance of cost records as specified by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013, are not applicable to the Company. Accordingly, the Company is not required to maintain such cost records.

DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION PONE 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.

No such transactions were made during the financial year 2025-26.

THE CODE ON SOCIAL SECURITY, 2020 - MATERNITY BENEFIT

During the period under review, The Company is in compliance with the applicable provisions relating to maternity benefits as prescribed under the Maternity Benefit Act, 1961/ the Code on Social Security, 2020.

ACKNOWLEDGEMENT

Your directors wish to place on record their appreciation tor the co-operation and support extended by the shareholders, various authorities, banks, dealers and vendors.

The Directors also acknowledge with gratitude the dedicated efforts and valuable contribution made by all the employees of the Company.

For and on behalf of Board
Shivchem Agro Limited
(Formerly Known as Shivchem Agro Private Limited)
SD/-	SD/-
Rohit Agarwal	Sachin Agarwal
(Chairman & Executive Director)	(Managing Director)
DIN:06693300	DIN:09316310
Flat No. 126, Regal Co-Op Housing Society	Address: A-l/306,3rd Floor, Rang Rasayan
(Star Apartment), Near Sanjeev Dahiya Government	Apartment, Near Bhagwati Hospital,
School, Sector-9,	Sector-13, Rohini Sector-7, North West Delhi,
Rohini Sector - 7, Rohini,	Delhi-110085
North West Delhi, Delhi -110085
Place: New Delhi
Date: September 05, 2026