The Board of Directors hereby submits the report of the business and operations of your Company, along with the audited financial statements, for the financial year ended March 31, 2023.

The financial performance for the year ended March 31, 2023 is summarized below:

On Standalone basis, in Financial Year 2022-23, our revenue from operations increased to Rs. 1,10,82,82,992/- as compared to Rs. 15,14,38,717/- in the last year. The Company has a profit of Rs. 7,92,82,863/- on standalone basis as compared to loss of Rs. (20,22,015) in previous year.

On consolidated basis, in Financial Year 2022-23, our revenue from operations increased to Rs. 1,10,92,82,992/- as compared to Rs. 22,97,31,792/- in the last year. The Company has a profit of Rs. 8,61,30,861/- on consolidated basis as compared to profit of Rs. 40,15,258/- in previous year.

During the year under review, there was no change in the name of Company.

No credit rating was required to be obtained by the Company during the financial year under review.

Considering the fact that the Directors of the Company manages and controls the business operations of the Company from the state of Delhi and in order to exercise better administrative and economic control and enable the Company to rationalize and streamline its operations as well as the management of affairs, the Board of Directors of the Company has recommended to shift the Registered Office of the Company from the State of Maharashtra to the State of Delhi. Such a change would enable the Directors to guide the Company more effectively and efficiently and also result in operational and administrative convenience and accordingly, members approval was obtained by way of passing Special Resolution on May 29, 2022 and necessary application was made to Regional Director, Western Region, Ministry of Corporate Affairs. The order of Regional Director is still pending.

There has been no change in the nature of business during the financial year under review.

Detailed information on the Company's Business overview and future outlook is incorporated in Management Discussion and Analysis forming part of the report.

In terms of Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations') Management Discussion and Analysis report ("MD&A Report") providing a detailed overview of your Company's performance, industry trends, business and risks involved is provided separately and is forming part of the Annual Report.

During the financial year 2022-23, the Company sold its shareholding in Shashi Beriwal and Company Private Limited (Subsidiary Company) to Vikas Lifecare Limited on 15th October, 2022 as a result of which Shashi Beriwal and Company Private Limited ceased to be a subsidiary Company.

As on March 31, 2023 the Company have an Associate Company named GI Engineering Solutions Limited.

Your Company's Board consists of learned professionals and experienced individuals from different fields. Presently, your Board comprises of Six Directors amongst whom, two are executive, one is Non-Executive Non-Independent and three are independent Directors including one Women independent Director on the Board

There was no change in the composition of Board of Directors of the Company during the financial year 2022-23, however, designation of Mr. Atul Sharma was changed from "Whole Time Director" to "Managing Director" of the Company

During the year, the Board of the Company met 8 (Eight) times on April 27, 2022, May 28, 2022, August 03, 2022, August 09, 2022, September 7, 2022, November 14, 2022, January 12, 2023 and February 25, 2023, respectively. The maximum gap between the two Board meetings was less than 120 days.

The number of Board Meetings and the attendance of Directors as well as their attendance at the Last AGM held on September 30, 2022 are as mentioned below:

The Independent Directors have confirmed that they meet the criteria of Independence as stipulated under Section 149(6) of the Companies Act, 2013 read with the Regulation 16 (1) (c) of the Listing Regulations and they are not aware of any circumstances or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgment and without any external influence as an Independent Director of the Company.

The Board confirms to the declaration of the Independent Directors and there being no doubts as to veracity of the same, places the same on record.

All the Directors and senior management personnel have affirmed and complied with the code of conduct formulated by the Company.

In terms of provisions of Section 203 of the Companies Act, 2013, during the year ended March 31, 2023, following changes took place in Key Managerial Personnel (KMPs) of the Company:

i. Ms. Apruva Singh resigned as Company Secretary of the Company and Ms. Sapna Tehanguriya was appointed in her place w.e.f. April 27, 2022;

ii. Ms. Sapna Tenhaguriya resigned as Company Secretary of the Company Ms. Meghna Kashtwal was appointed as Company Secretary w.e.f. September 7, 2022; iii. Mr. Uttam Kumar resigned as Chief Financial Officer of the Company w.e.f. September 23, 2022;

iv. Mr. Prakash Kukreja was appointed as Chief Financial Officer w.e.f. October 15, 2022.

Post closure of financial year 2022-23, Ms. Meghna Kashtwal resigned as Company Secretary and Compliance Officer of the Company w.e.f. 24th June, 2023. Currently, Mr. Sandeep Somani serving the office of Compliance Officer & Company secretary who was appointed on June 30, 2023 and July 5, 2023 respectively. Further Mr. Prakash Kureja Resigned from the post of CFO w.e.f. August 31, 2023 and Mr. Virender Sharma as Chief Financial Officer (CFO) of the company with immediate effect i.e. September 02, 2023. Also Mr. Anshu Jain appointed as Whole time Director and CEO of the company.

In compliance with the requirements of Companies Act, 2013 and Listing Regulations your Board had constituted various Board Committees including Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee.

Details of the constitution of these Committees, which are in accordance with regulatory requirements, have been uploaded on the website of the Company viz. www.ggelimited.com.

The composition as well as changes in their composition, if any, during the year and the number and dates of meetings of such committees held during the year are covered in Corporate Governance Report which forms part of Annual Report for the Financial year 2022-23.

In terms of the requirement of the Companies Act, 2013 and Listing Regulations, the Board carries out an annual evaluation of its own performance, Board Committees, individual Directors including the Independent Directors and the Chairman of the Company on the basis of criteria specified by the Nomination and Remuneration Committee as per the policy adopted by the Board of Directors of your Company.

Pursuant to Section 178(3) of the Companies Act, 2013, the Nomination and Remuneration Committee constituted under the provisions of Section 178(1) of the Companies Act, 2013 recommended to the Board of Directors your Company a policy on Directors' appointment and remuneration including criteria for determining qualifications positive attributes, independence of a Director and other matters. The said policy is approved by the Board of Directors is uploaded on the Company's website at www.ggelimited.com.

The Company issued 49,88,20,215 equity shares on rights basis for which allotment was made on

August 4, 2023, pursuant to which the paid-up share capital of the Company was increased from Rs. 38,06,78,585/- (Rupee Thirty-Eight Crores Six Lakh Seventy-Eight Thousand Five Hundred and Eighty-Five) to Rs. 87,94,98,800/- (Rupees Eighty Seven Crores Ninety Four Lakhs Ninety Eighty Thousand Eight Hundred)

Pursuant to Section 134(3)(C) read with Section 134(5) of the Act, the Directors, to the best of their knowledge and ability, hereby confirm that:

i. in the preparation of the annual accounts for the financial year 2022-23, the applicable accounting standards had been followed with proper explanation relating to material departures; ii. they have selected such accounting policies in consultation with Statutory Auditors 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 March 31, 2023 and of the profit and loss of the company for the Financial Year;

iii. they have taken proper and sufficient care, to the best of their knowledge and ability, for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities;

iv. The annual accounts of the Company have been prepared on a going concern basis.

v. 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.

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

As per 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, every listed company is required to disclose the ratio of the remuneration of each director to the median employee's remuneration and details of employees receiving remuneration exceeding limits as prescribed from time to time in the Directors' Report.

During the year under review, following changes took place in the capital structure of the Company:

i. Nominal value of equity share of the Company was sub-divided from Rs. 2/- (Rupees Two) to Re. 1/-

(Rupee One) per share

ii. Authorised Share Capital of the Company was increased from Rs. 10,50,00,000/- (Rupees Ten

Crores Fifty Lakh) to Rs. 50,00,00,000/- (Rupees Fifty Crores) via Postal Ballot Notice dated April 27, 2022, concluded on May 29, 2022.

iii. The Company issued 277,578,135 equity shares on rights basis for which allotment was made on

September 13, 2022, pursuant to which the paid-up share capital of the Company was increased from Rs. 10,31,00,450/- (Rupees Ten Crore Thirty-one Lakh Four Hundred & Fifty) to Rs. 38,06,78,585/- (Rupee Thirty-Eight Crores Six Lakh Seventy-Eight Thousand Five Hundred and Eighty-Five)

iv. The Authorised Share Capital of the Company was further increased from Rs. 50,00,00,000/-

(Rupees Fifty Crores) divided into 50,00,00,000 equity shares of Re. 1/- (Rupee One) each to Rs. Rs. 90,00,00,000/- (Rupees Ninety Crores) divided into 90,00,00,000 equity shares of Re 1/- (Rupee One) each via resolution passed by the shareholders of the Company through postal ballot on March 30, 2023.

Equity shares of the Company are presently listed and traded at BSE Limited ("BSE") (Scrip Code: 540614).

The Listing fees for the financial year 2023-24 have been paid to the stock exchanges.

Pursuant to provisions of Sections 139, 142 and other applicable provisions, if any, of the Companies Act, 2013 and rules made there under and pursuant to the recommendations of Audit Committee, M/s A.K. Bhargav & Co. Chartered Accountants (Firm Registration No. 0034063N) was appointed as the Statutory Auditors of the Company to hold office from the conclusion of 16th Annual General Meeting until the conclusion of ensuing 21st Annual General Meeting to be held in the year 2027.

Further Auditor's Report on the Financial Statements of the Company for the Financial Year 2022-23 as submitted by M/s A.K. Bhargav & Co., Chartered Accountants, did not contain any qualification, reservation or adverse remark and is self-explanatory.

There have been no instances of fraud reported by the Auditors under Section 143(12) of the Act and Rules framed thereunder either to the Company or to the Central Government.

M/s. Kumar G & Co., Practicing Company Secretary firm (COP. No: 7579) were appointed as the Secretarial Auditor of your Company to carry out the Secretarial Audit for the financial year under review. The Secretarial Audit Report issued by M/s. Kumar G & Co., Practicing Company Secretary firm in Form No. MR-3 is annexed to this Annual Report.

In terms of extant provisions of Listing Regulations read with SEBI circulars issued on the subject, a Secretarial Compliance Report was also obtained by the Company from the Secretarial Auditors and the same was also submitted to the Stock Exchange.

Further, pursuant to the Regulation 24A of Listing Regulations read with SEBI Circular No CIR/CFD/CMD1/27/2019, dated February 08, 2019, the Annual Secretarial Compliance Report for the financial year 2022-2023 was filed with Stock Exchanges(s), i.e. BSE Limited, on May 29, 2023.

The provisions of Section 148 of the Companies Act, 2013 are not applicable to the Company, therefore, there is no requirement of Cost Audit.

There are no observations (including any qualification, reservation, adverse remark or disclaimer) of the Auditors in their Audit Report that may call for any explanation from the Directors. Further, the notes to accounts referred to in the Auditor's Report are self-explanatory.

During the period under review the Company has not accepted any public deposits and therefore no amount on account of principal or interest on public deposits was outstanding as on the date of the Balance Sheet.

To conserve the resources for the expansion of business in the long run, your directors have not recommended any dividend for the Financial Year 2022-23 and have decided to retain the profits.

For the financial year ended on March 31, 2023, the Company has not transferred any sum to any reserve account therefore your company remained the balance of profit to profit & loss account of the company to surplus account.

The Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and Administration) Rules, 2014 of your Company for the financial year under review is available at website of your Company i.e. www.ggelimited.com.

The Company believes in adhering to the best corporate governance practices and its philosophy emphasizes on fair and transparent governance and disclosure practices which helps your Company to follow the path of its vision and mission. It strongly believes in developing best corporate governance policies and procedures based on principals of fair and transparent disclosures, equity, accountability and responsibility.

A detailed report on Corporate Governance, in terms of Regulation 34 of the Listing Regulations is forming part of the Annual Report. A certificate confirming compliance with requirements of Corporate

Governance as enumerated under the extant provisions of Listing Regulations issued by Mr. Pankaj Kumar Gupta, Proprietor of M/s. Kumar G & Co, Company Secretaries is also annexed to the said report.

The provisions of Corporate Social Responsibility are not applicable to the Company and hence disclosures under Sec 135 of the Companies Act, 2013 are not applicable to the Company.

The Company had submitted an application dated September 1, 2022 seeking re-classification of certain individuals from the 'Promoter and Promoter Group' category to the 'Public' Category under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the same was approved by BSE Limited ("the stock exchange") on March 13, 2023.

Pursuant to the said approval of stock exchange, following individuals have been re-classified from the 'Promoter and Promoter Group' category to the 'Public' Category with effect from March 13, 2023:

• Ms. Sangeeta Vinod Beriwal (PAN: AAMPG0905E)

• Mr. Vinod Harmukhrai Beriwal (PAN AADPA6979P)

• Mr. Ashok Harmukhrai Beriwal (PAN AGEPB2056M)

• Ms. Rashi Gupta (PAN AINPG2966J)

• Ms. Shashi Devi Beriwal (PAN AEOPB0172J)

There are no significant and material orders issued against the Company by any regulating authority or court or tribunal affecting the going concern status and Company's operation in future.

During the year under review, there was no application made or proceedings pending in the name of the company under the Insolvency Bankruptcy Code, 2016.

During the year under review, there has been no one time settlement of Loans taken from Banks and Financial institutions.

In terms of Section 186 of the Companies Act, 2013, particulars of inter-corporate loans, guarantees and investments are provided in the notes to Financial Statements.

All Related party transactions are entered on an arm's length basis and are in compliance with the applicable provisions of the Companies Act, 2013 and the Listing Regulations. There are no materially significant related party transactions made by the Company with Promoters, Directors or Key Managerial Personnel etc. which may have potential conflict with the interest of the Company at large. Company's policy on related party transactions can be accessed at its website www.ggelimited.com.

Details of related party transactions entered by the Company during the financial year under review is attached as Annexure A.

Information on conservation of Energy, Technology absorption, Foreign Exchange earnings and outgo required to be disclosed under Section 134 of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014 are provided hereunder:

The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013. During the year under review, no compliant was received in this regard.

The Company has a vigil mechanism named Whistle Blower Policy / Vigil Mechanism to deal with instances of fraud and mismanagement, if any. Details of the same are given in the Corporate Governance Report.

Your Company did not have any funds lying unpaid or unclaimed for a period of seven years. Therefore, there were no funds which were required to be transferred to Investor Education and Protection Fund (IEPF).

Risk Management is the process of identification, assessment and prioritization of risks followed by coordinated efforts to minimize, monitor and mitigate/control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. The Company has laid down a comprehensive Risk Assessment and Minimization Procedure which is reviewed by the Board from time to time. These procedures are reviewed to ensure that executive management controls risk through means of a properly defined framework.

The Companies Act, 2013 re-emphasizes the need for an effective Internal Financial Control system in the Company. The system should be designed and operated effectively. Rule 8(5) (viii) of Companies (Accounts) Rules, 2014 requires the information regarding adequacy of Internal Financial Controls with reference to the financial statements to be disclosed in the Board`s report. To ensure effective Internal Financial Controls the Company has laid down the following measures:

(i) The internal financial control systems are commensurate with the size and nature of its operations.

(ii) All legal and statutory compliances are ensured on a monthly basis. Non-compliance, if any, is seriously taken by the management and corrective actions are taken immediately. Any amendment is regularly updated by internal as well as external agencies in the system.

(iii) The Company follows a robust internal audit process. Transaction audits are conducted regularly to ensure accuracy of financial reporting, safeguard and protection of all the assets. Fixed Asset verification of assets is done on an annual basis. The audit reports for the above audits are compiled and submitted to Board of Directors for review and necessary action.

The Company takes pride in the commitment, competence and dedication of its employees in all areas of the business. The Company has a structured induction process at all locations and management development programs to upgrade skills of managers. Objective appraisal systems based on key result areas (KRAs) are in place for senior management staff.

Disclosure pertaining to remuneration and other details as required under Section 197 of the Companies Act, 2013 read with rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is given in Annexure-B to this report.

The statement containing the particulars of employees as required under Section 197(12) of the Companies Act, 2013 read with rule 5(2) and rules 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and other applicable rules (if any) is provided in a separate annexure forming part of this report. Further, the report and the accounts are being sent to members excluding the aforesaid annexure in terms of Section 136 of the Companies Act, 2013. Any member interested in obtaining such particulars may write to the Company Secretary at cs.ggengg@gmail.com.

Company's Health and Safety Policy commits to comply with applicable legal and other requirements connected with occupational Health, Safety and Environment matters and provide a healthy and safe work environment to all employees of the Company.

The Company has complied with Secretarial Standards issued by the Institute of Company Secretaries of India on Board Meetings and General Meetings.

In compliance with the circulars issued by the Ministry of Corporate Affairs and Securities and Exchange Board of India, notice of AGM along with the Annual Report for the financial year ended on March 31, 2023 is being sent only through electronic mode to those members whose e-mail addresses are registered with the Company Depositories. The members may note that the notice of AGM and Annual Report for the financial year ended on March 31, 2023 will also be available on the Company's website www.ggelimited.com and website of stock exchange i.e. BSE Limited at www.bseindia.com.

Your Director's place on record their deep appreciation to employees at all levels for their hard work, dedication and commitment. The Board places on record its appreciation for the support and cooperation, your company has been receiving from its Suppliers, Retailers, Dealers & Distributors and others associated with the Company. The Directors also take this opportunity to thank all Clients, Vendors, Banks, Government and Regulatory Authorities for their continued support. Last but not the least, the Directors wish to thank all shareholders for their continued support.