Annual Report FY 2025 - 26

Date: 03.09.2026 To, To, The Manager (Listing) The Manager (Listing) The Bombay Stock Exchange Ltd. The National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, Dalal Street, “Exchange Plaza” Bandra-Kurla Complex Mumbai – 400 001 Mumbai – 400 051 Company Code: 514274 (BSE) Company Code: VGL(NSE) Dear Sir, Subject: Submission of Annual Report for the Financial Year 2025-26. Pursuant to Regulation 34 (1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the Annual Report along with Notice of the 37th Annual General Meeting of the company, which is scheduled to be held on Wednesday, September 30, 2026 at 03:30 p.m. through Video Conferencing ("VC")/ Other Audio-Visual Means ("OAVM") in compliance with the relevant circulars issued by the Ministry of Corporate Affairs (MCA) and the Securities Exchange Board of India (SEBI). Kindly take the same on record. Thanking you, Yours faithfully, For, Varvee Global Limited (Formerly Known as Aarvee Denims and Exports Limited) Mr Jaimin Kailash Gupta Managing Director DIN: 06833388 ANNUAL REPORT 2025-26 VARVEE GLOBAL LIMITED (Formerly known as Aarvee Denims and Exports Limited) CIN: L17110GJ1988PLC010504 Registered Office: 188/2, Ranipur Village, Opp. CNI Church, Narol, Ahmedabad – 382 405, Gujarat, India CORPORATE INFORMATION BOARD OF DIRECTORS NAME OF DIRECTOR DESIGNATION MR. JAIMIN KAILASH GUPTA Chairman & Managing Director and CFO (appointed w.e.f. 05.07.2025) MR. VINOD PARMANAND ARORA Chairman and Managing Director ( resigned w.e.f. 05.07.2025) MR. ASHISH V SHAH Managing Director ( resigned w.e.f. 05.07.2025) MR. KALPESH V SHAH Whole Time Director ( resigned w.e.f. 05.07.2025) MR. TARACHANDBHAI AGRAWAL Whole Time Director (appointed w.e.f. 05.07.2025) MR. NIPUN V. ARORA Non-Executive Director MR. KANDARPG.TRIVEDI Independent Director ( resigned w.e.f. 02.03.2026) MR. HITEN M PARIKH Independent Director ( resigned w.e.f. 05.07.2025) MR. ANKIT N. MITTAL Independent Director MS. AARTI THAKKAR Independent Director MR. RAVI JITENDRA MODI Independent Director SENIOR EXECUTIVES NAME OF KMP DESIGNATION MR. KETAN UTTAMCHAND DESAI Chief Financial Officer ( resigned w.e.f. 12.04.2026) MR. JIGNESH M PARMAR Chief Financial Officer ( resigned w.e.f. 30.04.2026) MS. ABIRA MANSURI Company Secretary ( resigned w.e.f. 29.07.2026) MR. JAIMIN KAILASH GUPTA Chief Financial Officer (appointed w.e.f. 29.07.2026) MS. POOJA HEMANG KHAKI Company Secretary (appointed w.e.f 12.08.2026) AUDIT COMMITTEE NAME OF DIRECTOR STATUS IN COMMITTEE MR. HITEN M PARIKH Chairperson ( resigned w.e.f. 05.07.2026) MR. KANDARP TRIVEDI Chairperson ( resigned w.e.f. 02.03.2026) MS. AARTI THAKKAR Chairperson MR. RAVI JITENDRA MODI Member MR. ANKIT N. MITTAL Member NOMINATION AND REMUNERATION COMMITTEE NAME OF DIRECTOR STATUS IN COMMITTEE MR. HITEN M PARIKH Chairperson ( resigned w.e.f. 05.07.2026) MR. KANDARP TRIVEDI Chairperson ( resigned w.e.f. 02.03.2026) MS. AARTI THAKKAR Chairperson MR. RAVI JITENDRA MODI Member MR. ANKIT N. MITTAL Member STAKEHOLDERS’ RELATIONSHIP COMMITTEE NAME OF DIRECTOR STATUS IN COMMITTEE MR. KANDARP TRIVEDI Chairperson ( resigned w.e.f. 02.03.2026) MS. AARTI THAKKAR Chairperson MR. VINOD PARMANAND ARORA Member ( resigned w.e.f. 05.07.2026) MR. KALPESH V SHAH Member ( resigned w.e.f. 05.07.2026) MR. JAIMIN KAILASH GUPTA Member (appointed w.e.f. 05.07.2025) MR. TARACHANDBHAI AGRAWAL Member (appointed w.e.f. 05.07.2025) CORPORATE AND SOCIAL RESPONSIBILITY COMMITTEE NAME OF DIRECTOR STATUS IN COMMITTEE MR. JAIMIN KAILASH GUPTA Chairperson MR. TARACHANDBHAI AGRAWAL Member MS. AARTI THAKKAR Member STATUTORY AUDITOR M/s. Pankaj R Shah & Associates, Chartered Accountants 7th Floor, Regency Plaza, Opp. Rahul Tower, Nr. Madhur Hall, Anand Nagar Square, Satellite, Ahmedabad - 380 015, India Email : ca@shahandshah.co.in INTERNAL AUDITOR M/s. Jagetiya & Co, Chartered Accountants 437, 4th Floor, Yash Arian, Near Swami Vivekanand Circle, New Gurukul, Memnagar, Ahmedabad –380052 Email : jagetiyaandco@gmail.com SECRETARIAL AUDITOR M/s. Shah & Shah Associates, Company Secretaries 816-818, Anand Mangal-3, Opp. Core House, Nr. Doctor House, Ellisbridge, Ahmedabad – 380006 Email : tapanshah814@yahoo.com, info@tapanshah.in COST AUDITOR M/s. Anuj Aggarwal & Co., Cost and Management Accountants Ground Floor, Medimax House, Opp. Karnavati Hospital, Riverfront Road, Ellisbridge, Ahmedabad – 380006 Email : aggarwalanuj.cma@gmail.com REGISTRAR AND SHARE TRANSFER AGENT MUFG Intime India Private Limited 5th floor, 506 to 508 Amarnath Business Centre - I (ABC - I), Beside Gala Business Centre, Nr. St. Xavier’s College Corner, Off C G Road, Navarangpura, Ahmedabad, Gujarat, 380009 Email : investor.helpdesk@in.mpms.mufg.com CORPORATE DETAILS OF THE COMPANY Registered Office of the Company: 188/2, Ranipur Village, Opposite CNI Church, Narol, Ahmedabad – 382405, Gujarat, India CIN: L17110GJ1988PLC010504 Email: info@varveeglobal.com Website: https://varveeglobal.com/ BANKERS Bank of Baroda ICICI Bank Limited CONTENTS: Sr. No. Particulars Page No. 1. Notice Page No. 1-32 2. Directors’ Report & Annexures Page No. 33-52 3. Secretarial Audit Report & Annexures Page No. 53 - 66 4. Corporate Governance Report Page No. 67 - 100 5. Management Discussion and Analysis Page No. 101 - 108 6. Standalone Auditors’ Report & Financial Page No. 109 - 158 Statements VARVEE GLOBAL LIMITED (Formerly known as Aarvee Denims And Exports Limited) CIN: L13121GJ1988PLC010504 Regd. Office: 188/2, Ranipur Village, Opp. CNI Church, Narol, Ahmedabad – 382 405, Gujarat, India Phone: +91 9879597904; E-Mail: cs@varveeglobal.com, Website: www.varveeglobal.com NOTICE OF 37th ANNUAL GENERAL MEETING NOTICE is hereby given that the 37th Annual General Meeting of the members of Varvee Global Limited (Formerly known as Aarvee Denims And Exports Limited) for the financial year 2025-26, will be held on Wednesday, 30th September, 2026 at 03:30 P.M IST through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”) facility, to transact the following businesses: ORDINARY BUSINESSES: ITEM NO 1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March 2026 including Audited Balance Sheet as at 31st March 2026, Statement of Profit & Loss account together with the notes forming part thereof and Cash Flow statement for the year ended on that date and the report of the Statutory Auditors and the Board of Directors’ thereon and in this regard, to consider and if thought fit, to pass the following as an Ordinary Resolution:. “RESOLVED THAT the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2026 and the reports of the Board of Directors and Statutory Auditors’ thereon, as circulated to the members, be and are hereby considered and adopted.” ITEM NO 2. To appoint a Director in place of Mr. Tarachand Agrawal, Whole Time Director (DIN: 00465635) who retires by rotation and being eligible, offers himself for reappointment; To consider and, if thought fit, to pass with or without modification(s) the following resolution as an Ordinary Resolution: "RESOLVED THAT pursuant to the provisions of Section 152 and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Appointment and Qualification of Directors) Rules, 2014, and the applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (including any statutory modification(s) or re-enactment thereof for the time being in force), Mr. Tarachand Agrawal (DIN: 00465635), Whole-time Director of the Company, who retires by rotation at this Annual General Meeting and being eligible, has offered himself for re-appointment, be and is hereby re-appointed as a Director of the Company, liable to retire by rotation. SPECIAL BUSINESS: ITEM NO 3: APPROVAL OF MATERIAL RELATED PARTY TRAN [Showing first 8,000 characters — download PDF for full document]