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High Street Filatex Ltd			Industry : Trading


BSE Code:	531301	NSE Symbol:	Not Listed	P/E(TTM):	0

ISIN Demat:	INE319M01011	Div & Yield %:	0	EPS(TTM):	0

Book Value(Rs):	4.5844723	Market Cap ( Cr.):	50.04	Face Value(Rs):	10

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Dear Members,

High Street Filatex Limited

Your Directors have pleasure in presenting the 31^stAnnual Report on the business and operations of your Company, together with the Audited Financial Statements for the financial year ended on 31^st March, 2025.

1. FINANCIAL PERFORMANCE

The performance of the Company for the Financial Year ended 31^st March, 2025 is summarized as below:

Particulars	F.Y.2024-25	F.Y.2023-24
Revenue from operations	4,16,79,300	1,45,69,100
Other Income	-	-
Less: Total Expenditure	4,34,38,423	1,39,25,263
Profit/(Loss) before Tax	(10,39,390)	6,43,837
Tax Expenses	NIL	NIL
Profit/(Loss) after Tax	(10,39,390)	6,43,837
Basic EPS	(1.56)	1.00
Diluted EPS	(1.56)	1.00

2. STATE OF COMPANY?S AFFAIRS

The Financial Statements of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS), notified under the Companies (Indian Accounting Standards) Rules, 2015 read with Section 133 and other relevant provisions of the Companies Act, 2013.

During the year under review, revenue from operations of the Company was Rs. 4,16,79,300 as compared to Rs. 1,45,69,100/- in the previous financial year. During the year under review Company incurred loss of Rs. 10,39,390/-.

3. SHARE CAPITAL

The paid-up Share Capital of the Company as on 31^st March, 2025 is mentioned below:

Paid up Equity Share Capital : Rs. 2,34,34,300 Paid up Preference Share Capital : Rs. 1,36,00,000

During the year under review total Authorized capital (for Equity shares) of the company increased from Rs. 40,00,000 to 50,00,000. Issued, Subscribed and Paid Up Capital was increased from 6,47,000 Equity shares of Rs. 10/- each to 23,43,430 Equity Shares of Rs.10/- each consequent to decision of issue of share capital of 16,96,430 Equity shares at Rs.15 by way of Preferential issue (Face Value Rs. 10 and premium of Rs. 5) was approved by shareholders in Extra Ordinary General Meeting dated 18^th February, 2025 and the allotment of the same was done in Board meeting dated 28^th March, 2025.

Subsequent to the closure of accounts for the financial year, the Company has fully redeemed its Preference Shares pursuant to the resolution passed at the Board Meeting held on April 7, 2025.

4. DIVIDEND

Considering the losses incurred during the year, your directors do not recommend payment of any dividend for the financial year ended on 31^st March, 2025.

5. AMOUNTS TRANSFERRED TO RESERVES

No amount is proposed to be transferred to general reserves for the financial year ended on 31^st March, 2025.

6. ASSOCIATE COMPANIES, JOINT VENTURE AND SUBSIDIARY COMPANIES

During the year under review, there was no associate, Joint Venture and Subsidiary Company.

7. ANNUAL RETURN

In accordance with the provisions of Section 134(3) of the Companies Act, 2013, the Annual Return, under Section 92 (3) of the Companies Act, 2013, is hosted on the website of the Company at https://www.highstreetfilatex.in/asp/annual-returns.htm

8. BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

An active, informed and independent Board is a pre-requisite for strong and effective corporate governance. The Board plays a crucial role in overseeing how the management safeguards the interests of all the stakeholders. The Board ensures that the

Company has clear goals aligned to the shareholders? value and growth. The Board critically evaluates strategic direction of the Company and exercises appropriate control to ensure that the business of the Company is conducted in the best interests of the shareholders and society at large. The Board is duly supported by the Key Managerial Personnel and Senior Management Personnel in ensuring effective functioning of the Company.

Composition of the Board

The Composition & category of the Directors along with their attendance at Board Meetings, previous AGM as on March 31, 2025 are given below:-

		No. of Board Meetings
S. No. Name of the Director	Designation	Held during the tenure	Attended	Attendance at Last AGM held on September 20, 2024
1. Mr. Bhagwan Singh	Chairman & Whole Time Director	8	8	YES
2. Mrs. Aishwarya Sethia	Director & CFO	8	8	YES
3. Mr. Sunil Kumar Bairwa	Independent Director	8	8	YES
4. Mr. Charan Singh	Independent Director	8	8	YES
5. Mr. Dharmesh Ishwarlal	Independent Director	3	3	NO
Saraiya

The composition of the Board reflects the judicious mix of professionalism, competence and sound knowledge which enables the Board to provide effective leadership to the Company. The Board periodically evaluates the need for change in its size and composition to ensure that it remains aligned with statutory and business requirements. None of the Director hold office as a director, including any alternate directorship, in more than twenty companies, nor is a Director on the Board of more than ten Public Companies or acts as an Independent Director in more than seven Listed Companies. Further, none of the Director is a Member of more than ten Committees or Chairman of more than five Committees, across all the Companies in which he/she is a Director. The Company has issued the formal letter of appointment to all the Independent Directors as prescribed under the provisions of the Act and the terms and conditions of their appointment has been uploaded on the website of the Company.

The Board is entrusted with ultimate responsibility of the management, directions and performance of the Company. Board conducts and exercises the overall supervision and control by setting the goals and policies, reporting mechanism and decision-making processes to be followed.

In accordance with Section 152 of the Companies Act, 2013, Mr. Bhagwan Singh (DIN: 02305246) is retiring by rotation at the ensuing Annual General Meeting and being eligible have offered himself for reappointment.

Further, during the year under review Mr. Prachi Sethia (DIN: 06804838) has tendered her resignation from the post of Director of the company w. e. f 15^thJanuary, 2025.

Further, during the year under review, the Board based on the recommendation of Nomination and remuneration Committee has appointed Mr. Dharmesh Ishwarlal Saraiya (DIN: 06804838) as Director of the company w.e.f 16^th January, 2025

Mrs. Bhavna Giamalani (M. No. 56103), Company Secretary and Compliance Officer of the company has tendered resignation from the said designation with effect from 07^th April, 2025. The Board places on record its appreciation for the services rendered by her during her tenure. Further, she ceases to be associated with the company and is relieved from the duties of a Company Secretary and Compliance Officer.

Except aforesaid changes, no other changes took place in the directors and KMP of the company during the year under review. Further, the following changes took place after the closure of financial year and till the date of this report:

Mr. Dharmesh Ishwarlal Saraiya (DIN: 06804838), Mr. Sunil Kumar Bairwa (DIN: 06791053) and Mr. Charan Singh (DIN: 06804838) has tendered their resignation from the post of Director of the company w. e. f 26^th June, 2025. The Board places on record its deep appreciation for services rendered during their respective term as Directors of the Company.

Further Sandeep Jagdishprasad Agarwal was appointed as Chief Executive Officer in the Board meeting held on 26^th June, 2025.

Further Mrs. Anupriya Sandeep Agarwal (DIN:06417793) was appointed as Additional Director in the Board meeting held on 26^th June, 2025 and her appointment will be regularized by the members in the 31^st AGM of the Company to be held on 25^th September, 2025.

Further Mr. Manish Jhanwar (DIN: 05312225) was appointed as Additional Director (Independent) in the Board meeting held on 13^th August, 2025 and his appointment will be regularized by the members in the 31^st AGM of the Company to be held on 25^th September, 2025.

Mr. Jay Soni (M. No. 77601) who possess requisite qualification as prescribed under the [Appointment and Qualification of Secretary] Rules, 1988 was appointed as the Company Secretary & Compliance Officer of the company by the Board of directors following the recommendation of the Nomination and Remuneration Committee with effect from 26^th June, 2025 fulfilling the requirements of Section 203 of the Companies Act, 2013 and rules made there under and as per Regulation 6(1) of SEBI Listing Regulations.

9. NUMBER OF MEETINGS OF BOARD OF DIRECTORS

Board meetings are conducted in accordance with the provisions of the Companies Act, 2013 (hereinafter referred as "the Act") read with Articles of Association of the Company, Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred as "the SEBI Listing Regulations") and Secretarial Standard-1.

The Board meets at regular intervals (at least once in a calendar quarter) to discuss and decide on business strategies/policy and review the financial performance of the Company.

The agenda along with relevant notes and other material information are sent in advance separately to each Director. In case of Business exigencies, if any, the Board?s approval is taken through circular resolution except in the cases which has been restricted by the act, which is noted and confirmed at the subsequent Board meeting.

The Chief Financial Officer of the Company was invited to attend all the Board Meetings. Other senior managerial personnel are called as and when necessary to provide additional inputs for the items being discussed by the board.

The Whole-time Director and the Chief Financial Officer of the Company make the presentation on the quarterly and annual operating & financial performance of the Company and other business issues.

The draft of the minutes prepared by Company Secretary is circulated among the Directors for their comment/suggestion within 15 days of meeting and finally after incorporating their views, final minutes are recorded in the books within 30 days of meeting.

Post meeting, important decisions taken are communicated to the concerned officials and department for the effective implementation of the same.

The Board of Directors met to discuss and decide on Company?s business policy and strength apart from other normal Board business. During the year 2024-25, Eight (8) Board Meetings were held, and the intervening gap between the meetings was within the period prescribed under the Act, Secretarial Standard-1 and the SEBI Listing Regulations, including relaxations/extensions as time to time provided by the Ministry of Corporate affairs and Securities and Exchange Board of India. The dates on which the said meetings were held are as follows:

01	Wednesday, 08^th May, 2024
02	Monday, 08^th July, 2024
03	Friday, 09^th August, 2024
04	Tuesday, 12^th November, 2024
05	Thursday, 16^th January, 2025
06	Friday, 24^th January, 2025
07	Monday, 03^rd February, 2025
08	Friday, 28^th March, 2025

10. COMMITTEES OF BOARD

Under the aegis of Board of Directors, several committees have been constituted and delegated powers for different functional areas. The Board Committees are formed with approval of the Board and function under their guidance. These Board committees play an important role in overall management of day-to-day affairs and governance of the Company. The Board committees meet at regular intervals, takes necessary steps to perform its duties entrusted by the Board. To ensure good governance, Minutes of the meetings are placed before the Board to take note.

Under the provisions of the Act and the SEBI Listing Regulations, the Board of the Company have three committees namely:

I. Audit Committee

II. Stakeholders? Relationship Committee III. Nomination and Remuneration Committee

These are briefly enumerated as under:

I. Audit Committee:

The Audit Committee is duly constituted in accordance with Section 177 of the Act read with Rule 6 of the Companies (Meetings of Board and its Powers) Rules, 2014. It adheres to the terms of reference, prepared in compliance with Section 177 of the Act, and the SEBI Listing Regulations to the extent applicable. The Audit Committee of the Company is entrusted with the responsibility to supervise the Company?s internal controls and financial reporting process. The Committee acts as a link between the Management, the Statutory Auditors, the Internal Auditors, Secretarial Auditors and the Board of Directors.

a.) Composition:

The Audit Committee comprises of three Directors, all of whom are Non-Executive Independent Directors. All the members of Audit Committee are financially literate and bring in expertise in the fields of finance, taxation, economics, risk and international finance. The Audit Committee seeks to ensure both corporate governance and provides assistance to the Board of Directors in fulfilling the Board?s overall responsibilities.

The constitution of the Audit Committee as on 31^st March, 2025 is as under:

Name of Members	Designation
Mr. Sunil Kumar Bairwa	Chairman (Independent Director)
Mr. Charan Singh	Member (Independent Director)
Mr. Dharmesh Ishwarlal Saraiya*	Member (Independent Director)

*Further during the period Ms. Prachi Sethia, ceased to be the Director and member of the committee w.e.f. 15^th January, 2025 and Mr. Dharmesh Ishwarlal Saraiya was inducted as the Director and Member of the Audit Committee with effect from 16^th January, 2025 in place of Ms. Prachi Sethia.

b.) Extract of Terms of Reference-

The indicative list of terms of reference of the Audit Committee are in accordance with Section 177 of the Act and as per the SEBI Listing Regulations are as follows:

(i) the recommendation for appointment, remuneration and terms of appointment of auditors of the Company;

(ii) review and monitor the auditor?s independence and performance, and effectiveness of audit process; (iii) examination of the financial statement and the auditors? report thereon; (iv) approval or any subsequent modification of transactions of the Company with related party; (v) scrutiny of inter-corporate loans and investments; (vi) valuation of undertakings or assets of the Company, wherever it is necessary; (vii) evaluation of internal financial controls and risk management systems; (viii) monitoring the end use of funds raised through public offers and related matters

(ix) review of internal audit reports relating to internal control weakness and discuss with internal auditors any significant findings and follow up thereon; (x) reviewing the statements of significant related party transactions submitted by the management. (xi) review of the Whistle Blower Mechanism of the Company as per the Whistle Blower Policy and overseeing the functioning of the same. (xii) review and approve policy on materiality of related party transactions and also dealing with related party transactions.

c.) Audit Committee Meetings and Attendance-

During the Financial Year 2024-25, 5 (Five) meetings of the Audit Committee were held. The necessary quorum was present in all the meetings. The Audit Committee Meetings are usually held at the registered office of the Company. The dates of the meetings are:

01	Monday, 08^th May, 2024
02	Friday, 09^th August, 2024
03	Tuesday, 12^th November, 2024
04	Friday, 24^th January, 2025
05	Monday, 03^rd February, 2025

The table below provides the attendance of the Audit Committee members:

Name	Position	Category	No. of Audit Committee Meeting during the year
			Held	Attended
Mr. Sunil Kumar Bairwa	Chairman	Non Executive (Independent Director)	5	5
Mr. Charan Singh	Member	Non Executive (Independent Director)	5	5
Ms. Prachi Sethia	Member	Non Executive (Director)	3	3
Mr. Dharmesh Ishwarlal Saraiya	Member	Non Executive (Director)	2	2

The Audit Committee invites such of the executives as it considers appropriate i.e. the head of the finance (CFO), Internal Auditor, representatives of the Statutory Auditors, Secretarial Auditors etc. to attend the Committee?s meetings. The

Company Secretary of the Company acts as the Secretary to the Audit Committee.

All the recommendations of the Audit Committee was accepted by the Board during the year.

II. Stakeholders? Relationship Committee:

The Stakeholders Relationship Committee is duly constituted in accordance with Section 178(5) of the Act. The Stakeholders

Relationship Committee is entrusted with the responsibility of addressing the shareholders?/ investors? complaints with respect to transfer, transmission of shares, issuance of duplicate share certificate, non-receipt of Annual Report, non-receipt of dividend etc.

This committee overlooks the performance of the Registrar and Share Transfer Agent and to recommend measures for overall improvement in the Quality of Investor services. The Company has always valued its customer relationships. a.) Composition:

Constitution of the Committee is as under:

Name of Members	Designation
Mr. Sunil Kumar Bairwa*	Chairman (Independent Director)
Mr. Charan Singh*	Member (Independent Director)
Ms. Prachi Sethia*	Member (Director)

b.) Terms of reference of the Stakeholders? Relationship Committee are broadly as under-

The Stakeholders? Relationship Committee specifically looks into various issues of the Shareholders such as:

1. Resolving the grievances of the security holders of the listed entity including complaints related to transfer/transmission of shares, non-receipt of annual report, non-receipt of declared dividends, issue of new/duplicate certificates, general meetings etc.

2. Review of measures taken for effective exercise of voting rights by shareholders.

3. Review of adherence to the service standards adopted by the listed entity in respect of various services being rendered by the Registrar & Share Transfer Agent.

4. Review of the various measures and initiatives taken by the listed entity for reducing the quantum of unclaimed dividends and ensuring timely receipt of dividend warrants/annual reports/statutory notices by the shareholders of the Company.

c.) Stakeholders? Relationship Committee Meetings and attendance

During the year 2024-25, 01 (one) meeting of the committee was held on Monday, 10^th February, 2025. The necessary quorum was present in the meeting. The Committee Meeting is usually held at the registered office of the Company.

The table below provides the attendance of the Stakeholders? Relationship Committee members:

Name	Position	Category	No. of Stakeholder Relationship Committee Meeting during the year
			Held	Attended
Mr. Sunil Kumar Bairwa	Chairman	Non Executive (Independent Director)	1	1
Mr. Charan Singh	Member	Non Executive (Independent Director)	1	1
Ms. Dharmesh Ishwarlal Saraiya	Member	Non Executive (Director)	1	1

Company Secretary of the Company acts as the Secretary of the Committee

d.) Details of Complaints:

Opening balance at the beginning of the year	Nil
Received during the year	1
Disposed during the year	1
Closing balance at the end of the year	Nil

III. Nomination and Remuneration Committee-

The Nomination and Remuneration Committee has been constituted by the Company in terms of the provisions of Section 178 of the Act. The Nomination and Remuneration Committee reviews and recommends the payment of salaries, commission and finalizes appointment and other employment conditions of Directors, Key Managerial Personnel and other Senior Employees.

Composition:-

Name of Members	Designation
Mr. Charan Singh	Chairman (Independent Director)
Mr. Sunil Kumar Bairwa	Member (Independent Director)
Ms. Prachi Sethia*	Member (Director)

The Nomination and Remuneration Committee has been constituted in order to bring about objectivity in determining the remuneration package while striking a balance between the interest of the Company and the shareholders.

Extract of Terms of Reference-

The broad terms of reference of the Nomination and Remuneration Committee, as amended from time includes the following-

1) formulation of the criteria for determining qualifications, positive attributes and independence of a director and recommend to the board of directors a policy relating to, the remuneration of the directors, key managerial personnel and other employees; 2) formulation of criteria for evaluation of performance of independent directors and the board of directors; 3) identifying persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down, and recommend to the board of directors their appointment and removal. 4) whether to extend or continue the term of appointment of the independent director, on the basis of the report of performance evaluation of independent directors. 5) recommend to the board, all remuneration, in whatever form, payable to senior management.

Nomination and Remuneration Committee Meetings and attendance - The necessary quorum was present in all the meetings. The Nomination and Remuneration Committee Meetings are usually held at the registered office of the Company. During the Financial Year 2024-25, 03 (three)meetings were held:-

01	Monday, 08^th July, 2025
02	Friday, 09^th August, 2025
03	Thursday, 16^th January, 2025

The table below provides the attendance of the Nomination and Remuneration Committee members:

Name	Position	Category	No. of Nomination & Remuneration Committee Meeting during the year
			Held	Attended
Mr. Sunil Kumar Bairwa	Chairman	Non Executive (Independent Director)	3	3
Mr. Charan Singh	Member	Non Executive (Independent Director)	3	3
Ms. Prachi Sethia	Member	Non Executive (Director)	2	2
Mr. Dharmesh Ishwarlal Saraiya	Member	Non Executive (Director)	1	1

11. Meeting of Independent Directors

The meeting of Independent Directors was conducted to enable the Independent Directors to discuss matters pertaining to inter alia review the performance of Non Independent Directors and the Board as a whole, review the performance of the Executive Chairman of the Company (taking into account the views of the Executive and Non- Executive Directors), review the performance of the Company, assess the quality, quantity and timeliness of flow of information between the Company, Management and the Board which is necessary for the Board to effectively and reasonably perform their duties and considered preferential issue.

The meeting of the Independent Directors for the financial year under review was held on 11^th November, 2024 and 24^th January 2025.

The Chairman of the meeting of Independent Directors apprises the Chairman of the Company regarding the views/ concerns, if any, of Independent Directors.

12. PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED

BY THE COMPANY U/s 186

During the year under review, the Company has not given any loans or guarantee or provided security in connection with a loan nor it has acquired by way of subscription, purchase or otherwise the securities of any other body corporate.

13. PARTICULARS OF CONTRACT OR ARRANGEMENT WITH RELATED PARTIES

All the related party transactions that were entered during the financial year are done on arm?s length basis and in the ordinary course of business. Relevant Form (AOC-2) for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 is given as

"Annexure-1" to this Report.

The policy on dealing with and materiality of Related Party Transactions has been placed on the Company?s website and can be accessed through the following link:

http://www.highstreetfilatex.in/asp/Policy_on_Related_PartyTransaction.pdf

14. MATERIAL CHANGES AND COMMITMENTS

There were no material changes occurred and commitments that took place between the end of the financial year to which the financial statements relate and the date of this Report which can affect the financial position of the Company.

15. SIGNIFICANT AND MATERIAL ORDERS

In pursuance to Rule 8 (5) (vii) of the Companies (Accounts) Rules, 2014, no significant or material orders were passed by the regulators or courts or tribunals impacting the going concern status and Company?s operations in future.

16. RISK MANAGEMENT POLICY

In compliance with the requirements of regulations contained in the SEBI Listing Regulations and the provisions of the Act, Company has a Risk Management Policy to identify and assess the key risk areas, monitor and report compliance and effectiveness of the policy and procedure. Company has a well-established Risk Management framework in place for identification, evaluating and management of risks, including the risks which may threaten the existence of the Company. In line with Company?s commitment to deliver sustainable value, this framework aims to provide an integrated and organized approach for evaluating and managing risks. A detailed exercise is carried out to identify, evaluate, manage and monitor the risks. The Board periodically reviews the risks and suggests steps to be taken to control and mitigate the same through a properly defined framework. The detailed risk management policy of Company is available on the following weblink: http://highstreetfilatex.in/asp/Policy_on_Risk_Managment.pdf

17. DECLARATION OF INDEPENDENCE BY INDEPENDENT DIRECTORS

The Company has received necessary declaration from each Independent Director of the Company stating that:

(i) they meet the criteria of independence as provided in Section 149(6) of the Act and Regulation 16(1)(b) of the Listing Regulations; and

(ii) as required vide Rule 6 (1) & (2) of the Companies (Appointment and Qualifications of Directors) Rules, 2014 they have registered their names in the Independent Directors? Databank maintained by the Indian Institute of

Corporate Affairs.

Based on the declarations received from the Directors, the Board confirms, there has been no change in the circumstances affecting their status as Independent Directors of the Company. In the opinion of the Board, the Independent Directors are competent, experienced, proficient and possess necessary expertise and integrity to discharge their duties and functions as Independent Directors.

18. DEPOSITS

During the year under review, Company has neither invited nor accepted or renewed any fixed deposit in terms of provisions of the Act read with the Companies (Acceptance of Deposits) Rules, 2014.

Further, the particulars of the borrowings by the Company from its directors are provided in the financial statements. (Please refer to Note. 9 in the Financial Statements).

19. MAINTENANCE OF COST RECORDS AND COST AUDIT

The Company is not required to maintain cost records as specified by the Central Government under Section 148(1) of the Act.

20. PARTICULARS OF CONSERVATION OF ENERGY, ABSORPTION OF TECHNOLOGY AND FOREIGN EXCHANGE

EARNINGS AND OUTGO

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo during the financial year as required to be disclosed pursuant to Section 134(3)(m) of the Act, read with Rule 8 of the Companies (Accounts) Rules 2014, are given to the extent applicable in "Annexure- 2" forming part of this report.

21. STATUTORY AUDITORS

The Board of Directors at their meeting dated 26^th June, 2025 recommended the appointment of M/s. N.D. Kapur & Co, Chartered Accountants (Firm Reg. No. 001196N) as Statutory Auditors of the Company in place of M/s. R Sogani & Associates, Chartered Accountants (FRN 018755C) who have tendered their resignation w.e.f. 25^th June, 2025 as Statutory Auditors of the Company. M/s. N.D. Kapur & Co, Chartered Accountants (Firm Reg. No. 001196N) were appointed w.e.f. 26^th June, 2025 till the ensuing AGM to fill the casual vacancy caused due to resignation of M/s. R Sogani & Associates, Chartered Accountants, (FRN: 018755C).

Further, the Board of Directors of the Company at its meeting held on 26^th June, 2025 have appointed M/s. N.D. Kapur & Co, Chartered Accountants (Firm Reg. No. 001196N) for a term of 5 years, subject to the approval of shareholders at ensuing Annual General Meeting, to hold office till the conclusion of Annual General Meeting to be held in the year 2030.

The Board recommends to the members of the Company approval of appointment of M/s. N.D. Kapur & Co, Chartered Accountants (Firm Reg. No. 001196N) as the Statutory Auditors of the Company. They have confirmed their eligibility under Section 141 of the Companies Act, 2013 and the Rules framed thereunder. As required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Auditors have also confirmed that they hold a valid certificate issued by the Peer Review Board of the Institute of Chartered Accountants of India.

22. STATUTORY AUDITOR?S REPORT

The Board has duly received the Statutory Auditor?s Report on the financial Statements of the Company for the financial year ended March 31, 2025. The Report given by the Auditors on the financial statements of the Company is forming part of the Annual Report. There has been no qualification, reservation, adverse remark or disclaimer given by the Auditors in their Report and the observations made by the Auditors are self-explanatory and have been dealt with in Independent Auditors Report & its annexures and hence do not require any further clarification.

Further, the Auditors have not reported any incident of fraud in the Company for the year under review under section 143(12) of the Act.

23. SECRETARIAL AUDITOR & SECRETARIAL AUDIT REPORT

The Board of Directors of the Company has appointed M/s V. M. & Associates (FRN: P1984RJ039200) Company Secretaries, Jaipur as Secretarial Auditor of the Company to conduct secretarial audit of the secretarial records for the Financial Year 2024-25.

A Secretarial Audit Report in Form MR-3 issued by M/s V. M. & Associates, Company Secretaries, in respect of the secretarial audit of the Company for the financial year ended 31^st March, 2025 is given in "Annexure-3" to this Report and does not contain any qualification, reservation or adverse remark except the following:

1. The Company has not fully adhered with Regulation 3(5) of the SEBI PIT Regulations, as in a few instances, the entries regarding the sharing of Unpublished Price Sensitive Information ("UPSI") were either not recorded in the

Structured Digital Database maintained by the Company or were recorded after the UPSI had become public

Management Reply: We remain fully committed to adhering to SEBI's regulations and ensuring the integrity of our information-sharing processes. Management has already taken proactive steps to enhance internal controls and reporting mechanisms to ensure that such occurrences do not recur. we will continue to maintain the highest standards of compliance moving forward.

2. The Company has not submitted certain disclosures to the stock exchange as required under Regulation 30 read with Schedule III Part A of SEBI Listing Regulations;

Management Reply: The Company understands the importance of these disclosures in maintaining transparency with the stock exchanges and stakeholders. We have reviewed the situation, and the oversight was purely due to an internal procedural delay. Immediate corrective measures have been taken to ensure that all pending disclosures are submitted promptly and in compliance with regulatory requirements.

3. The Company has not complied with section 117 of the Act, as E-form MGT-14 was not filed for certain resolutions passed by the Board of Directors in pursuance of the powers exercised under Section 179 of the Act.

Management Reply: The delay occurred due to miscommunication between departments regarding the filing requirements. We are currently in the process of filing the MGT-14 for all affected resolutions, and this will be completed as soon as possible. To prevent such lapses in the future, we have strengthened our compliance monitoring systems to ensure that all necessary filings are made promptly in accordance with statutory requirements.

Further, as per recommendation of the Audit Committee, the Board of Director has appointed M/s. Krishna Rathi & Associate, Practicing Company Secretaries as Secretarial Auditors of your Company for the Financial Year 2025-26.

During the financial year 2024-25, no fraud was reported by the Secretarial Auditor of the Company in their Audit Report.

24. INTERNAL AUDITOR AND THEIR REPORT

Pursuant to Section 138 of the Act read with Rule 13 of the Companies (Accounts) Rules, 2014, every Listed Company is required to appoint an Internal Auditor or a firm of Internal Auditors to carry out Internal Audit of the Company. The Internal Audit Report is received yearly by the Company and the same is reviewed and taken on record by the Audit Committee and Board of Directors.

As per the requirements of the Act, Company had appointed Mrs. Padmini Palod, Chartered Accountant (Membership No. 074922) as the Internal Auditor of the Company for the financial Year 2024-25 for conducting Internal Audit.

The Internal Auditor?s Report for the financial year ended on 31^st March, 2025 are free from any qualification, reservation, observation and adverse remark.

In compliance with the aforesaid requirements, as per recommendation of the Audit Committee, the Board of Director has appointed M/s. A.R. Sodha & Co, Chartered Accountants as the Internal Auditor of the Company for the financial Year 2025-26 for conducting Internal Audit.

During the financial year 2024-25, no fraud was reported by the Internal Auditor of the Company in their Audit Report.

25. CORPORATE GOVERNANCE AND CODE OF CODUCT

Pursuant to the provisions of Regulation 15 and Chapter V of the SEBI Listing Regulations, Companies having paid up equity share capital not exceeding Rs. 10 Crore and Net Worth not exceeding Rs. 25 Crore, as on the last day of the previous financial year are not required to comply with the provisions of Regulation 27 of the SEBI Listing Regulations.

As per the Audited Financial Statements of the Company the paid-up Equity Share and Net worth does not exceed the limit as mentioned above; hence compliance with the provisions of the Corporate Governance is not applicable to the Company.

However, your Company has complied with all the disclosures and requirements which are applicable under all the rules, regulations for the time being in force.

Therefore, declaration/certification/information required to be disclosed as per Para C, D and E of Schedule V read with Regulation 34 are not applicable to the Company and hence, Corporate Governance Report, Declaration and Compliance Certificate pursuant to Para C, D and E of Schedule V of Listing Regulations, respectively, not attached to this report.

26. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In compliance with the Regulation 34 (2) of the SEBI Listing Regulations, the Management Discussion and Analysis Report giving details of overall industry structure, developments, performance and state of affairs of Company?s business forms an integral part of this Report as "Annexure-4".

27. PARTICULARS OF EMPLOYEES

None of the employees of the Company was in receipt of the remuneration exceeding the limits prescribed u/s 197 (12) of the Act read with rule 5, sub-rule 2 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014(as amended) during the year under review. The ratio of the remuneration of each director to the median employee's remuneration and other details in terms of sub section 12 of Section 197 of the Act read with Rule 5(1) of The Companies (Appointment and Remuneration of Managerial

Personnel) Rules, 2014 are forming part of this report as "Annexure-5".

28. LISTING REGULATIONS

During the period under review, the Company has complied with all the mandatory requirements of the SEBI Listing Regulations and other applicable regulations.

29. NOMINATION AND REMUNERATION POLICY

This Nomination and Remuneration Policy (the "Policy") applies to the Board of Directors (the "Board"), Key Managerial Personnel (the "KMP") and the Senior Management Personnel of High Street Filatex Limited (the "Company").

This Policy is in compliance with Section 178 of the Companies Act, 2013 read along with the applicable rules thereto and includes formal evaluation framework of the Board. The company?s Nomination & Remuneration policy includes director?s appointment and remuneration & criteria for determining qualifications, positive attributes, independence of Director.

The objective of this Policy is to serve as a guiding charter to appoint qualified persons as directors on the Board of Directors of the Company ("Directors"), Key Managerial Personnel (the "KMP"), persons who may be appointed in senior management positions ("SMP"), to recommend the remuneration to be paid to them and to evaluate their performance.

The salient features of the Nomination and Remuneration policy are as follows:

Part A covers the matters to be dealt with, perused and recommended by the Committee to the Board:

Part B covers the appointment including re-appointment and removal of Director, KMP and senior management: and

Part C covers the level and composition of remuneration is reasonable and sufficient, relationship of remuneration to performance is clear and meets appropriate performance benchmarks.

The policy is also available on the website of Company at http://www.highstreetfilatex.in/asp/nomination-and-remuneration-policy.pdf.

30. BOARD EVALUATION

The parameters for the performance evaluation of the Board, inter alia, include performance of the Board on deciding long term strategy, rating the composition and mix of Board members, discharging of governance and fiduciary duties, handling critical and dissenting suggestions, etc., and such evaluation was done by the means of questioners circulated to all the directors.

The parameters for the performance evaluation of the Directors include attendance, effective participation in meetings of the Board, domain knowledge, vision, strategy, etc.

The Chairman of the respective Committees based on the feedback received from the committee members on the outcome of performance evaluation exercise of the committee, shares a report to the Board.

Board Level Performance Evaluation

The Act and the SEBI Listing Regulations stipulates the performance evaluation of the Directors including Chairman, Board and its Committees. Considering the said provisions, the Company has devised the process and the criteria for the performance evaluation which has been recommended by the Nomination & Remuneration committee and approved by the Board. During the year the Board of Directors has carried out an annual performance evaluation of its own performance, board committees and Individual Directors based on an indicative list of factors.

The process for formal annual performance evaluation is as under:

Independent Directors of the Company at their separate meeting evaluates the performance of Whole Time Director, Non- Executive Directors, Chairman of the Company and the Board as a whole.

The Board evaluates the performance of the all Directors. The Board evaluated the performance of Board Committees.

Nomination & Remuneration Committee evaluate/ review the performance of each Director recommends appointment/reappointment/ continuation of Directors to the Board. Based on the recommendation of Nomination & Remuneration Committee, Board will take the appropriate action.

The criteria for performance evaluation are as under:

Performance Evaluation of Non-Executive Directors and Chairman

Participation at Board / Committee Meetings, Managing Relationship, Knowledge and skill, Personal attributes, Compliance and Corporate Governance; Leadership; Strategy Formulation, Strategy Execution, Financial Planning/Performance, Relationships with the Board, Human Resource Management and Succession Planning, Personal Qualities, Resources and Conduct of Meetings.

Performance Evaluation of Board

Composition and Diversity; Strategic Foresight, Value Creation, Process and Procedures, Oversight of the Financial Reporting Process and Internal Controls, Oversight of Audit Functions, Corporate Governance, Corporate Culture, Monitoring of business activities, Understanding of the business of the Company and Regulatory environment; Contribution to effective corporate governance and transparency in the Company?s Operations; Deliberations/decisions on the Company?s strategies, policies, plans and guidance to the Executive Management.

Performance Evaluation of Committees

The performance and effectiveness of the Committee; Frequency and duration; Spread of talent and diversity in the Committee; Understanding of regulatory environment and developments; Interaction with the board.

31. CORPORATE SOCIAL RESPONSIBILITY

Subject to the provisions of Section 135 and Schedule VII of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2015, the Company is not mandatorily required to undertake CSR initiatives. The report of the CSR activities is not applicable to the Company.

32. VIGIL MECHANISM/WHISTLE BLOWER POLICY

The Company has a robust vigil mechanism through its whistle blower policy, approved and adopted by the Board of Directors of the Company in compliance with the provisions of Section 177(10) of the Act.

The policy also provides protection to the employees and Directors who report unethical practices and irregularities. Any incidents that are reported are investigated and suitable action is taken in line with the whistle blower policy. The employees are encouraged, to raise voice, for their concerns by way of whistle blowing and all the employees have been given access to Chairperson of the Audit Committee. It also provides adequate safeguards against victimization of Directors/ Employees who avail the mechanism and are free to report violations of applicable laws and regulations and the code of conduct. No personnel have been denied access to the Audit Committee pertaining to the Whistle Blower Policy. The Whistle Blower Policy is available on the following web link: http://www.highstreetfilatex.in/asp/vigil-mechansim.pdf.

33. INTERNAL FINANCIAL CONTROL

The Company?s internal financial control framework is commensurate with the size and operations of the business and is in line with requirements of the Act. The Company has laid down Standard Operating Procedures and policies to guide the operations of the business. Unit heads are responsible to ensure compliance with the policies and procedures laid down by the management. Robust and continuous internal monitoring mechanisms ensure timely identification of risks and issues. The Management, Statutory and Internal Auditors undertake rigorous testing of the control environment of the Company.

The Company has in place adequate internal financial controls with reference to financial statements. During the year, such controls were tested and no reportable material weaknesses in the design or operation were observed.

34. COMPLIANCE WITH SECRETARIAL STANDARDS

The Institute of Company Secretaries of India, a statutory body, has issued Secretarial Standards (SS) on various aspects of corporate law and practices. The Company has complied with all the applicable Secretarial Standards issued by the Institute of Company Secretaries of India.

35. CODE OF CONDUCT

The Company has adopted a Code of Conduct for all the employees including the members of the Board and Senior Management Personnel. All the members of the Board and Senior Management Personnel have affirmed compliance with the said code of conduct for the financial year 2024-25.

The Code has been posted on the website (www.highstreetfilatex.in) of the Company. The Code can be accessed through the following link :http://www.highstreetfilatex.in/asp/ITC-High-street-filatex.pdf.

36. ANTI-SEXUAL HARASSMENT POLICY

The Company?s Policy on Prevention of Sexual Harassment at workplace is in line with the requirements of the Sexual

Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Rules, 2013 framed thereunder.

The Company conducts sessions for employees across the organization to build awareness amongst employees about the Policy and the provisions of Prevention of Sexual Harassment of Women at Workplace Act. The Company has complied with the provisions relating to constitution of internal complaints committee (ICC) under the POSH Act. All women employees are covered under this policy. ICC has been set up to redress complaints received regarding sexual harassment. During the Financial Year 2024-25, no complaint of sexual harassment was received by the Company details/particulars for the same are as follows:

Particulars	No. of Complaints
No. of Complaints pending at the beginning of the year	0
No. of Complaints received during the year	0
No. of Complaints disposed off during the year	0
No. of Complaints pending for more than Ninety days	0

The Company is committed to providing a safe and conducive work environment to all of its employees and associates.

37. GENERAL SHAREHOLDER INFORMATION

a) Annual General Meeting

Date and Time of AGM	Thursday, 25^th September, 2025
Mode	Video Conference and Other Audio Visual Means
Financial Year	2024-25
Dividend Payment Date	-

(b) Listing on Stock Exchanges

The Company?s Equity Shares are listed on:

BSE Limited

25th Floor, P. J. Towers, Dalal Street, Fort, Mumbai- 400 001

CSE Limited

7, Lyons Range Kolkata 700001

The Company has paid till date, appropriate listing fee to both the stock exchanges.

c) Unclaimed Suspense Account

Aggregate number of shareholders and the outstanding shares lying in the Suspense Account at the beginning of the year	Number of shareholders who approached the issuer for transfer of shares from the Suspense Account during the year	Number of shareholders to whom shares were transferred from the Suspense Account during the year	Aggregate number of Shareholders and the Outstanding shares lying in the Unclaimed Suspense Account at the end of the year
One shareholder having 20 equity shares	Nil	Nil	One shareholder having 20 equity shares

The voting rights on the shares in suspense account shall remain frozen till the rightful owner of such shares claims the shares.

d) Stock Code

BSE Limited	531301
CSE Limited	031175
ISIN for NSDL and CDSL	INE319M01011

(e) Registrar and Transfer Agent

Beetal Financial and Computer Services Private Limited

"Beetal House", 3^rd Floor, 99 Madangir, Behind Local Shopping Centre, Near Dada, Harsukhdas Mandir, New Delhi-110062. Ph. No.: 91-011-29961281,29961282, Fax No.: 91-011-29961284 Website: www.beetalfinancial.com, E-mail Id: beetalrta@gmail.com

(f) Share Transfer System

All the transfers received in physical form were processed by adhering to the guidance/circulars issued by SEBI for dealing with Physical shares and as per the confirmations received from the Registrar and Share Transfer Agents.

The Company?s Registrar and Transfer Agents - Beetal Financial and Computer Services Private Limited has adequate infrastructure to process the share transfers.

(g) Outstanding GDRs/ADRs/Warrants or any convertible instruments, conversion date and likely impact on equity None

(h) Details of utilization of funds raised through preferential allotment or qualified institutions placement as specified under Regulation 32 (7A). (

The proceeds remain unutilized for their designated purposes, but they are intended to be applied at a subsequent stage.

38. DIRECTORS? RESPONSIBILITY STATEMENT

Pursuant to the requirement under section 134(5) of the Act with respect to Directors? Responsibility Statement, your directors confirm that:

a) In the preparation of the Annual Accounts for the financial year ended 31^st March, 2025, the applicable accounting standards and Schedule III of the Companies Act, 2013, have been followed and that no material departures have been made from the same;

b) They 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 at the end of the financial year and of the profits of the Company for that period;

c) They 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) They have prepared the annual accounts on a going concern basis;

e) They have laid down internal financial controls for the Company and such internal financial controls are adequate and operating effectively; and

f) They have devised proper systems to ensure compliance with the provisions of all applicable laws and such systems are adequate and operating effectively.

39. DETAIL OF AGREEMENTS AS SPECIFIED UNDER REG. 30A (2) OF LODR

There is no agreement entered into as mentioned in Clause 5A of Para A of Part A of Sch III of Listing Regulations.

40. OTHER DISCLOSURES

Other disclosures with respect to Board?s Report as required under the Act, Rules notified thereunder and Listing Regulations are :

The Company confirms that it is in compliance with the provisions of the Maternity Benefit Act, 1961, and has extended all applicable benefits to eligible women employees as mandated under the Act.

There were no complaints relating to child labour, forced labour or involuntary labour during the financial year 2024- 25.

No application has been made / No proceeding is pending under the Insolvency and Bankruptcy Code, 2016 during the year under review.

The Company has not made any valuation for one-time settlement with Banks and Financial Institutions. Hence, there is no reason for elaboration on the said aspect.

Your directors place on records their sincere thanks to bankers, business associates, consultants, and various Government Authorities for their continued support extended to your Companies activities during the year under review. Your directors also acknowledge gratefully the shareholders for their support and confidence reposed on your Company.