Annual Report for the financial year 2025-2026

August 31, 2026 The Manager BSE Limited, P J Towers, Dalal Street, Fort, Mumbai – 400 001 REF: BSE: SCRIP CODE: 521048 Dear Sir/Madam, Subject: Annual Report of Advance Lifestyles Limited for the Financial Year 2025-26 and Notice Convening the 37th Annual General Meeting. With reference to the captioned subject and pursuant to Regulation 30 and 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit the Annual Report of Advance Lifestyles Limited for the Financial Year 2025-2026 along with the Notice convening the 37th Annual General Meeting of the Company, scheduled to be held on Tuesday, 22nd September, 2026 at 1:00 P.M (IST) through Video Conferencing ('VC') / Other Audio-Visual Means ('OAVM'). We request you to take the above information on record. Yours faithfully, For and on behalf of Advance Lifestyles Limited, Vikas Gangwal (Company Secretary & Compliance Officer) ACS: 62314 Encl: a/a ADVANCE LIFESTYLES LIMITED CIN: L45309MH1988PLC268437 Regd.Office:2nd Floor, West Wing Electric Mansion, Appasaheb Marathe Marg, Worli, Mumbai-400 025 Maharashtra-Ph:022-4231 9900 Website: www.advance.net.in E-mail id: cs.advancelifestyles@gmail.com ADVANCE LIFESTYLES LIMITED Annual Report 2025-2026 INDEX Sl Particulars Page No 1 C orporate Information 1-1 2 N otice of 37th Annual General Meeting 2-13 3 D irector’s Report 14-25 4 S ecretarial Audit Report 26-31 5 R eport on Corporate Governance 32-48 6 Certificate regarding compliance of Corporate 49-49 G overnance 7 C ertificate of Non-disqualification of Directors 50-50 8 A uditor’s Report on Accounts 51-66 9 B alance Sheet 67-67 10 P rofit and Loss Account 68-68 11 C ash Flow Statement 68-70 12 C hange in Equity Statement 71-71 13 Notes forming part of Financial Statements, Significant A ccounting Policies and Notes on Accounts 72-92 CORPORATE INFORMATION BOARD OF DIRECTORS: Mr. Kashyap Gandhi : Managing Director Ms. Jyoti L. Bambade : Non-Executive Director Ms. Mala Poddar : Non-Executive Independent Director Mr. Aditya Soni : Non-Executive Independent Director KEY MANAGERIAL PERSONNEL: Mr. Ramesh Nair : Chief Financial Officer Mr. Vikas Gangwal : Company Secretary & Compliance Officer (w.e.f 1st June 2025) CORPORATE IDENTITY NUMBER: L45309MH1988PLC268437 BANKERS: Corporation Bank Kotak Mahindra Bank Limited REGISTERED OFFICE: CORPORATE/ADMINISTRATIVE OFFICE: 2nd Floor, West Wing, Electric Mansion, FF 21-22, Advance Plaza, Appasaheb Marathe Marg, Worli, Shahibag Road, Mumbai 400025 Ahmedabad -380004, Gujarat www.advance.net.in REGISTRAR AND SHARE TRANSFER AGENTS: Bigshare Services Private Limited A-802 Samudra Complex, Nr Classic Gold Hotel, Off. C G Road, Navarangpura, Ahmedabad – 380 009. STATUTORY AUDITOR: M/s. Piyush J Shah & Co SECRETARIAL AUDITOR: M/s. Pooja Gala & Associates NOTICE NOTICE is hereby given that Thirty Seventh (37th) Annual General Meeting of the members of Advance Lifestyles Limited (the “Company”) will be held on Tuesday, 22nd day of September, 2026 at 1.00 P.M. (IST) through Video Conferencing (“VC”) or Other Audio Visual Means (“OAVM”) at the deemed venue of the Company situated at 2nd Floor, West Wing Electric Mansion Appasaheb Marathe Marg Worli, Mumbai City, Maharashtra, India, 400025 to transact the following business: ORDINARY BUSINESS: To consider and if thought fit, to pass the following resolutions as Ordinary Resolutions: 1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended on 31st March 2026 comprising of Balance Sheet, Statement of Profit and Loss, Cash flow Statement and notes together with the Reports of the Board of Directors and the Auditors thereon: “RESOLVED THAT the audited standalone financial statements of the Company for the financial year ended on 31st March 2026 and the reports of the Board of Directors and Auditor thereon as circulated to the members with the notice of the Annual General Meeting, be and are hereby received, considered and adopted.” 2. To re-appoint Mr. Kashyap Gandhi (DIN: 02604428), who is liable to retire by rotation as a Director of the Company pursuant to the provisions of Section 152 of the Companies Act, 2013 (‘the Act’) and being eligible, offers himself for re- appointment: “RESOLVED THAT pursuant to the provision(s) of applicable law(s), and the Articles of Association, and upon recommendation of the Board of Directors, Mr. Kashyap Gandhi (DIN: 02604428), Managing Director, who retires by rotation and being eligible, has offered himself for re-appointment, be and is hereby re-appointed as Director of the Company liable to retire by rotation.” By Order of the Board For Advance Lifestyles Limited Sd/- Place: Mumbai Vikas Gangwal Date: 11th August 2026 Company Secretary & Compliance Officer (Membership No: A62314) NOTES: 1. In continuation to this Ministry's General Circular No. 20/2020 dated 05.05.2020, No. 02/2022 dated 05.05.2022, No. 10/2022 dated 28.12.2022, and No. 09/2023 dated 25.09.2023, No. 09/2024 dated 19.09.2024, and latest being 03/2025 dated 22nd September, 2025 and the Securities and Exchange Board of India (‘SEBI’) vide its circular no. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/133 dated 3rd October, 2024 and other applicable circulars issued in this regard, (hereinafter collectively referred to as (“the Circulars”), have permitted holding of the Annual General Meeting (“AGM”) through Video Conferencing. Hence, the AGM of the Company is being held through VC/OAVM. The deemed venue for the AGM shall be the registered office of the Company, i.e. 2nd Floor, West Wing Electric Mansion Appasaheb Marathe Marg Worli, Mumbai City, Maharashtra, India, 400025 2. Members attending the AGM through VC or OAVM shall be counted for the purpose of reckoning the quorum under Section 103 of the Act. 3. In terms of the circulars, the requirement of sending proxy forms to the members of the company as per the provisions of section 105 of the act read with regulation 44(4) of the listing regulations, has been dispensed with. therefore, the facility to appoint proxy by the members of the company will not be available and consequently, the proxy form and attendance slip are not annexed to this notice convening the 37th AGM (the “notice”). However, in pursuance of Section 113 of the Act and Rules framed thereunder, the corporate members are entitled to appoint authorized representatives for the purpose of voting through remote e-Voting or for the participation and e-Voting during the AGM, through VC or OAVM. Institutional Shareholders (i.e., other than individuals, HUF, NRI etc.) are required to send scanned copy of the relevant Board Resolution / Power of Attorney / appropriate Authorization Letter together with attested specimen signature(s) of the duly authorized signatory(ies) who are authorized to vote, to the Company Secretary by their registered email address to cs.advancelifestyles@gmail.com 4. Since the 37th AGM will be held through VC or OAVM, no Route Map is being provided with the Notice. The deemed venue for the 37th AGM shall be the Registered Office of the Company. 5. In case of Joint-holders, the Member whose name appears as the first holder in the order of names as per the Register of Members of the Company will be entitled to vote during the AGM. 6. Statement pursuant to Section 102 of the Act and the rules made thereunder setting out the material facts and the reasons for each item of Special Business is annexed hereto. The recommendation of the Board of Directors of the Company (the “Board”) in terms of Regulation 17(11) of the Listing Regulations for each item of Special Business, which are considered unavoidable by the Board, is also provided in the said Statement. Necessary information of the Directors as required under Regulation 36(3) of the Listing Regulations and the Secretarial Standard on General Meetings (SS-2) issued by the Institute of Company Secretaries of India (ICSI) is also appended to the Noti [Showing first 8,000 characters — download PDF for full document]