Dear Members,
Your directors are pleased to present the 34th Annual Report of your Company ("the Company" or "Divyashakti"), along with the Audited financial statements for the financial year ended 31st March, 2025.
1. FINANCIAL RESULTS
Particulars |
Year ended 31.03.2025 | Year ended 31.03.2024 |
| (Rs. in Lakhs) | (Rs. in Lakhs) | |
| Revenue from operations | 6387.22 | 6977.14 |
| Other Income | 448.72 | 285.95 |
| Gross Operating Profit before Depreciation, Finance Cost, and Taxes | 596.52 | 578.11 |
| Profit after depreciation | 338.97 | 322.68 |
| But before Exceptional Items and Taxes | ||
| Profit after Exceptional items | 338.97 | 322.68 |
| Profit after Tax | 253.60 | 232.04 |
| Appropriations: | ||
| General Reserves | 48.22 | 26.66 |
| Proposed Dividend | 205.38 | 205.38 |
| Total | 253.60 | 232.04 |
1A. SUMMARY OF COMPANYS OPERATIONAL AND FINANCIAL PERFORMANCE:
During the FY 2024-25, the Company recorded a decline of 8.45% in revenue from operations, amounting to R6,387.22 Lakhs, as compared to R6,977.15 Lakhs in the previous financial year. Despite the reduction in topline revenue, the Company reported a marginal increase in Profit Before Tax, which stood at R338.96 Lakhs, up from R322.68 Lakhs in the preceding year, reflecting a growth of 4.80%. This improvement is attributable to prudent cost management and operational efficiencies implemented during the year. However, overall profitability remained under pressure due to persistent macroeconomic headwinds and industry-specific challenges.
The global quartz industry witnessed a substantial oversupply during the year, resulting in intense pricing pressure and heightened competition. This, coupled with a significant slowdown in demand from the U.S. market-driven by elevated interest rates and sustained inflation-led to stagnant market conditions and constrained pricing power. These factors collectively impacted the Companys revenue realisation and overall financial performance during the year under review.
2. DIVIDEND:
The Board of Directors is pleased to recommend the declaration of a final dividend amounting to Rs. 2.00 per share (20% on the face value of Rs. 10/-) for FY 24-25, aggregating an amount of Rs. 205.38 Lakhs. The said dividend, if approved by the Members at the ensuing Annual General Meeting (the AGM), will be paid to those Members whose name appears on the register of Members of the Company.
In terms of the provisions of Regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"), the Company has formulated a Dividend Distribution Policy.
The recommended dividend is in line with our Companys dividend policy, which is available on the Companys Website http://www.divyashakti.com.
3. TRANSFERS TO RESERVES AND RETENTION IN THE PROFIT AND LOSS ACCOUNT, ETC:
The Company proposes to transfer an amount of Rs. 48.22 Lakhs to Reserves during the financial year under review.
4. FINANCE:
Cash and cash equivalents as at 31st March, 2025 were Rs. 106.64 Lakhs and Rs. 857.06 Lakhs in the previous year. The Company continues to focus on judicious management of its working capital, receivables, inventories, and other working capital parameters, and they were kept under strict check through continuous monitoring.
5. COMPANYS WORKING DURING THE FINANCIAL YEAR 2024-25 AND THE FUTURE PROSPECTS ALONG WITH REASONS FOR COMPARING WITH THE PREVIOUS YEARS RESULTS:
During FY 2024-25, the Company exported polished granite and quartz slabs aggregating to R6,330.83 Lakhs to the United States, reaffirming its strong presence in international markets.
As of the close of the financial year, the Company had export orders on hand valued at R300 Lakhs, compared to R400 Lakhs in the previous year. This slight decline is attributable to subdued global demand conditions; however, the order pipeline remains robust, reflecting the Companys continued competitive positioning.
6. CHANGE IN NATURE OF BUSINESS:
The Company did not undergo any change in the nature of its business during FY 2024-25.
7. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAS OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:
There have been no material changes and commitments, which affect the financial position of the Company, that have occurred between the end of the financial year to which the financial statements relate and the date of this report.
8. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND THE COMPANYS OPERATIONS IN THE FUTURE:
There are no significant and material orders by the Regulators or Courts or Tribunals impacting the going concern status and the Companys operations in the future.
9. INTERNAL CONTROL SYSTEM AND ITS ADEQUACY:
The Companys internal control systems are commensurate with the nature of its business, the size and complexity of its operations, and such internal financial controls with reference to the Financial Statements are adequate. The Internal Auditors of the company conduct an audit on a regular basis, and the Audit Committee periodically reviews internal audit reports and the effectiveness of internal control systems.
10. DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES:
The Company does not have any Subsidiaries or Joint-Ventures, or Associate Companies.
12. DEPOSITS
The Company has not accepted/renewed any fixed deposits from the public, and no amount of principal or interest was outstanding as of the Balance Sheet date during the year.
13. AUDITORS AND OBSERVATIONS
M/s. Pavuluri & Co., Chartered Accountants, Hyderabad (Firm Registration No. 012194S), were appointed as the Statutory Auditors of the Company for a period of five consecutive years, commencing from the conclusion of the 31st Annual General Meeting held on 18th August 2022 until the conclusion of the 36th Annual General Meeting to be held in the year 2027. Their appointment was made in accordance with the provisions of Section 139 of the Companies Act, 2013, read with the Companies (Audit and Auditors) Rules, 2014. As per the Companies (Amendment) Act, 2017, ratification of auditors appointment at every Annual General Meeting is no longer required.
The Audit Report issued by the Statutory Auditors for the financial year ended 31st March, 2025, does not contain any qualifications, reservations, adverse remarks, or disclaimers. Accordingly, no explanation or comment by the Board is required under Section 134(3)(f) of the Companies Act, 2013.
14. SECRETARIAL AUDITOR & REPORT
Pursuant to the provisions of Section 204 of the Companies Act, 2013 ("the Act"), the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, and Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), as amended, the Board of Directors, on the recommendation of the Audit Committee, has approved the appointment of M/s. Puttaparthi Jagannatham & Co., a peer- reviewed firm of Company Secretaries based in Hyderabad, as the Secretarial Auditors of the Company for a continuous term of five (5) financial years commencing from FY 2025-26 to FY 2029-30, subject to approval of the shareholders.
The Secretarial Audit Report for the financial year ended 31st March, 2025, issued by M/s. Puttaparthi Jagannatham & Co., is annexed as Annexure-I to the Boards Report and forms an integral part of this Integrated Annual Report. The Report confirms that there were no qualifications, reservations, observations, or adverse remarks during the period under review.
15. EXTRACT OF ANNUAL RETURN:
Pursuant to the provisions of Section 92(3) of the Companies Act, 2013 and Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return of the Company for the financial year 2024-25 has been placed on the website of the Company and can be accessed at the following link: https://www. divyashakti. com/wp-content/uoloads/2025/08/DSG Annual Return Extracts 2024 25.pdf
16. SHARE CAPITAL
The Paid-up share capital of the Company is Rs. 102688700/-, and there has been no change during the year. None of the following issues were taken up during the year, and hence, details thereof were not required to be furnished
A) Issue of shares with differential rights
B) Issue of sweat equity shares
C) Issue of employee stock options
D) Provision of money by the company for the purchase of its own shares by employees or trustees for the benefit of employees
17. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, AND FOREIGN EXCHANGE EARNINGS AND OUTGO:
(A) Conservation of energy
a) Awareness programmers for employees were conducted for reducing energy waste.
b) Company ensures that the manufacturing operations are conducted in the manner whereby optimum utilization and maximum possible savings of energy is achieved.
c) No specific Capital investment has been made on reduction in energy consumption during the current financial year.
d) Although the Company has undertaken several measures towards energy conservation and optimal utilization, the cost benefits arising therefrom are not readily quantifiable.
e) Details of electricity consumption are as under:
| 2024-25 | 2023-24 | |
Electricity |
||
a) Purchased Units |
864863 | 992322 |
| Total Amount (Rs. in Lakhs) | 88.06 | 99.72 |
| Average Cost/Unit (Rs. /KWH) | 10.18 | 10.05 |
b) Own Generation |
||
i) Through Solar Plant-(w.e.f. Feb.2017) Produced Energy (in Units) |
670425 | 848328 |
| Total Value estimated (Rs. in Lakhs) | 45.92 | 58.11 |
| Average Cost/Unit (Rs. /KWH) | 6.85 | 6.85 |
ii) Through Diesel Generator (Total Units) |
10920 | 8769 |
| Total Amount (Rs. in Lakhs) | 3.22 | 2.66 |
| Units per liter of Diesel Oil | 3.25 | 3.26 |
| Average Cost/Unit (Rs. /KWH) | 29.53 | 30.37 |
(B) Technology Absorption:
No outside technology is being used for manufacturing activities; therefore, no technology absorption is required. The Company constantly strives for maintenance and improvement in the quality of its products, and entire research and development activities are directed to achieve the aforesaid goal.
(C) Foreign exchange earnings and outgo:
Details of foreign exchange earnings and outgo are as follows
a) Foreign Exchange Earnings : |
Rs. 6330.83 Lakhs |
b) Foreign Exchange Outgo : |
Rs. 80.20 Lakhs |
18. CORPORATE SOCIAL RESPONSIBILITY
Pursuant to the provisions of Section 135 of the Companies Act, 2013, read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, the Company has duly constituted a Corporate Social Responsibility (CSR) Committee. The composition of the Committee is as under:
Name of the Member |
Designation |
| Sri P. Mohan Krishna | Chairman |
| Sri J. Srinivasa Karunendra | Member |
| Sri M. Ramakrishna Prasad | Member |
During the financial year ended 31st March, 2025, the CSR Committee convened two meetings ? on 4th May, 2024 and 20th January, 2025.
As per the financial thresholds stipulated under Section 135(1) of the Act, the Company was not mandatorily required to incur CSR expenditure during FY 2024-25, based on its financials for the preceding three financial years.
Nevertheless, in consonance with its philosophy of proactive and responsible corporate citizenship, the Company voluntarily incurred a CSR expenditure of Rs.0.25 Lakhs, towards supporting educational initiatives for underprivileged students in proximity to its operational facilities.
No additional CSR expenditure was incurred during the financial year under review.
The Company remains steadfast in its commitment to undertake socially relevant initiatives and shall continue to evaluate and execute CSR programs as and when the prescribed statutory thresholds are met in the ensuing financial periods.
The Annual Report on CSR activities for FY 2024-25, as prepared in accordance with Rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014, is annexed hereto and forms an integral part of this Report as Annexure-II.
19. DIRECTORS AND KEY MANAGERIAL PERSONNEL
A) Changes in Directors and Key managerial personnel:
i. Mr. Ramakrishna Prasad Musunuri (DIN: 01781225) completed his first term of five consecutive years as a Non-Executive Independent Director of the Company on 26th January 2025. The Board, through a Circular Resolution dated 21st January 2025, and based on the recommendation of the Nomination and Remuneration Committee, considering his expertise and experience in finance, taxation, management, strategy, corporate governance, and other relevant fields, and on the basis of his performance evaluation, approved his re-appointment as a Non-Executive Independent Director of the Company for a second term of five consecutive years, effective 27th January 2025. His second term will conclude on 26th January 2030. The members of the Company approved the re-appointment by way of a special resolution passed on 6th April 2025 through a postal ballot conducted via remote e-voting.
ii. In accordance with provisions of the Act and the Articles of Association of the Company, Ms. Anuradha Anne (DIN:02802437), Director, is liable to retire by rotation at this AGM and is eligible for re-appointment.
During the year under review, there were no change in the KMPs of the Company.
B) Declaration by the Independent Directors of the Company that they meet the criteria of independence as provided in Sec 149(6) of the Companies Act, 2013.
All the Independent Directors have given declarations under Section 149(7) of the Companies Act, 2013 that they meet the criteria of independence as provided in sub-section (6) of Section 149 of the Companies Act, 2013 and Regulation 16(2) and 25 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Independent Directors have confirmed that they are not aware of any circumstance or situation, which exists or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgement and without any external influence. .
C) Formal evaluation statement by the Board of its own performance, its committees, and individual Directors:
Pursuant to the provisions of the Companies Act, 2013 and the Listing Regulations, the Board has formulated a policy for evaluation of its Board, Board Committee, Directors, and their performances and carried out an evaluation of them. The manner in which the evaluation has been carried out has been explained in the Corporate Governance Report.
D) Number of meetings of the Board of Directors:
The Directors met four 4 times during the financial year 2024-25. A calendar of meetings is prepared and circulated in advance to all the Directors
For details, please refer to the Report on Corporate Governance, which forms part of this Report.
E) Meeting of Independent Directors:
A separate meeting of Independent Directors of the Company was held on 30th January, 2025, as required under Schedule IV to the Companies Act, 2013 (Code for Independent Directors) and Regulation 17 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. At the Meeting, the Independent Directors reviewed the performance of Non-Independent Directors and the Board as a whole.
F) Familiarization program for independent directors
The Company proactively keeps its directors informed of the activities of the Company, its management and operations and provides an overall industry perspective as well as issues being faced by the industry. The Familiarisation programme for Independent Directors is disclosed on the Companys website.
20. AUDIT COMMITTEE:
The Board of Directors of the Company constituted the Audit Committee consisting of the following Directors, with the roles and responsibilities duly defined in accordance with the applicable statutory and other requirements. During the year, four (4) meetings of the Committee took place.
Name of the Member |
Designation |
Sri M.R.K.Prasad |
Chairman |
Sri J. Srinivasa Karunedra |
Member |
Sri P.Mohan Krishan |
Member |
The Board has accepted all the recommendations of the Audit Committee.
21. DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM FOR DIRECTORS AND EMPLOYEES:
The Company believes in the conduct of the affairs of its constituents in a fair and transparent manner by adopting the highest standards of professionalism, honesty, integrity, and ethical behaviour. Oversight of this mechanism is entrusted to the audit committee.
Pursuant to Section 177(9) of the Act, a vigil mechanism was established for directors and employees to report to the management instances of unethical behaviour, actual or suspected, fraud or violation of the Companys code of conduct or ethics policy. The vigil mechanism provides adequate safeguards against victimization and multiple channels for reporting concerns, including an option for escalation, if any, to the Chairperson of the Audit Committee of the Company
Additionally, the Company has crafted a Whistleblower Policy, empowering its Directors, Employees, and Stakeholders to report any perceived unethical behavior, suspected fraud, or breaches of the Companys Code of Conduct or Ethics Policy.
The Company reaffirms that all Directors and employees retain unhindered access to the Chairman of the Audit Committee, and no complaints were received throughout the fiscal year.
22. CODE OF CONDUCT:
The Board of Directors has approved a comprehensive code of conduct, applicable to both Board members and all employees during the course of the Companys daily operations. Firmly opposing bribery, corruption, and any form of unethical behaviour, the Board has instituted directives to combat such actions. Termed the "Code of Business Conduct, this code is detailed in the Report as an appendix, with compliance declarations included.
This code delineates the expected standards of business conduct for Directors and designated employees, emphasizing integrity in workplace practices, business dealings, and interactions with stakeholders.
All Board members and Senior Management Personnel have affirmed their adherence to the code, with comprehensive training provided to all management staff on these guidelines.
23. PREVENTION OF INSIDER TRADING:
As per SEBI (Prohibition of Insider Trading) Regulations, 2015, the Company has adopted a Code of Conduct for Prevention of Insider Trading & Code of Corporate Disclosure Practices. All the Directors, employees and third parties (intermediaries and fiduciaries) such as auditors, consultants etc. who could have access to the Unpublished Price Sensitive Information of the Company are governed by this code. The trading window is closed during the time of declaration of results and the occurrence of any material events as per the Code.
During the year under review, there has been due compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.
24. NOMINATION AND REMUNERATION COMMITTEE:
The Board of Directors of the Company constituted of Nomination and Remuneration Committee, consisting of the Following are the members of Nomination and Remuneration Committee with the roles and responsibilities duly defined and in accordance with the applicable statutory and other requirements.
Name of the Member |
Designation |
Sri M.R.K.Prasad |
Chairman |
Sri J. Srinivasa Karunedra |
Member |
Sri P.Mohan Krishan |
Member |
The Board has formulated a policy in consultation with the Nomination and Remuneration Committee for selection and appointment of Directors, Senior management, and fixation of their remuneration keeping in view the requirements given in Section 178 of the Companies Act, 2013 and it also involves in the evaluation of the Board and its remuneration policies. During the Financial Year under review, the Committee has met once times i.e., on 20th January, 2025.
25. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
All transactions entered with Related Parties for the year under review were on arms length basis. The particulars of every contract or arrangement entered into by the Company with related parties referred to in sub-section (1) of Section 188 of the Companies Act, 2013, including certain arms length transactions under the third proviso thereto, are disclosed in Form No. AOC-2 as Annexure- III to this Report.
Pursuant to the requirements of the Act and the SEBI Listing Regulations, the Company has formulated a policy on RPTs, and it is available on the Companys website URL at: https://www.diwashakti.eom/wp-content/uploads/2024/05/8.-Policv-on-Related-Partv-Transactions.pdf
There were no materially significant transactions with Related Parties during the financial year 2024-25 that were in conflict with the interest of the Company. Suitable disclosures as required under the Accounting Standard have been made in Note 30 of the Notes to the financial statements.
26. MANAGERIAL REMUNERATION:
Details of the ratio of the remuneration of each Director to the median employees remuneration and other details as required pursuant to Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
| a) | Remuneration to Directors: | 2024-25 (In Rs.) | % on Total Salaries | |
| Sri N. Hari Hara Prasad (Managing Director) | Salary | 62,00,000 | 19.62% | |
| Perquisites | 3,16,537 | |||
| Smt Anuradha Anne (Chief Financial Officer) | Salary | 6,00,000 | 1.81% | |
| Sri N. Sai Venkateshwara Prasad (Global Executive) | Consultancy | 10,10,250 | 3.04% |
b) There is no information required pursuant to Section 197 read with 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as no employee of the Company is covered by these rules.
c) It is hereby affirmed that the remuneration paid is as per the remuneration policy for Directors, Key Managerial Personnel, and other Employees.
d) The median remuneration of employees of the company during the financial year was Rs. 1.02 Lakhs.
e) There were 107 permanent employees on the rolls of the Company as on 31st March, 2025.
f) No Director is in receipt of any commission from the company, and the Managing Director and Whole-time Director of the Company have not received any remuneration or commission from any other Company subject to its disclosure by the Company in the Boards Report.
27. CORPORATE GOVERNANCE
The Directors reassert their dedication to upholding high standards of corporate governance. Throughout the reviewed period, the Company diligently adhered to the regulations concerning corporate governance outlined in Regulation 27 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The compliance report, along with the Auditors Certificate verifying adherence to the conditions of Corporate Governance as per the Listing Regulations, is provided as Annexure-IV to this Report.
The Managing Director and Chief Financial Officer of the Company have issued a necessary certificate pursuant to the provisions of Regulation 17(8) of the Listing Regulations, 2015, and the same forms part of this Report.
28. RISK MANAGEMENT AND INSURANCE
The Company maintains ongoing vigilance over business and operational risks by implementing business process re-engineering and conducting regular reviews across various areas, including production, finance, legal, and others. A comprehensive initiative is in progress to establish a robust risk management framework. Additionally, the Company ensures that its assets are sufficiently insured against risks arising from fire and earthquake hazards.
The Board has not identified any risks that, in its view, pose a threat to the Companys existence.
29. DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 134 (5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, confirm that
(a) In the preparation of the annual accounts for the financial year ended on 31 March 2025, the applicable accounting standards had been followed, and there are no material departures.
(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 as at 31 March 2025 and of the profit and loss of your Company for the financial year ended 31 March 2025;
(c) they have taken proper and sufficient care 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 fraud and other irregularities;
(d) The annual accounts for the financial year ended on 31 March 2025 have been prepared on a going concern basis;
(e) they have laid down internal financial controls to be followed by the Company and that, to the best of their knowledge, examination and analysis, such internal financial controls have been adequate and were operating effectively; and
(f) We have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.
30. PA YMENT OF LISTING FEE
At present, the equity shares of the Company are listed on the Bombay Stock Exchange at Mumbai. The Company confirms that it has paid Annual Listing Fees due to the Bombay Stock Exchange for the year 2025-26.
31. DEPOSITORY SYSTEM
As the Members are aware, your Companys shares are tradable compulsorily in electronic form and your Company has established connectivity with National Securities Depository Limited /Central Depository Services (India) Limited (CDSL). In view of the numerous advantages offered by the depository system, the Members are requested to avail the facility of Dematerialization of the Companys shares on NSDL & CDSL. The ISIN allotted to the Companys Equity shares is INE410G01010. The Company is pursuing the shareholders holding the shares in physical form for the dematerialization of their shares.
32. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:
There are no loans, guarantees or investments made under section 186 of the Companies Act, 2013.
33. SECRETARIAL STANDARDS
The Company has devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards issued by the Institute of Company Secretaries of India, and that such systems are adequate and operating effectively.
34. MANAGEMENT DISCUSSION & ANALYSIS REPORT
The Management Discussion and Analysis, as required in terms of the SEBI Listing Regulations, forms part of this report as Annexure-V.
35. PREVENTION OF SEXUAL HARASSMENT
The Company has a zero-tolerance policy for sexual harassment in the workplace. It has adopted a comprehensive policy on Prevention, Prohibition, and Redressal of Sexual Harassment at Workplace, in alignment with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, and Rules framed thereunder.
36. INTERNAL COMPLAINTS COMMITTEE:
The "Internal Complaints Committee" constituted as per Section 4 (1) of the Sexual harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 has the following members.
S. No. |
Name of the Member | Designation |
| 1. | Smt Anuradha Anne | Chairman/Preceding Officer |
| 2. | Sri P. Mohan Krishna | Internal Member |
| 3. | Sri J. Narayana Swamy Damodhar | External Member |
| 4. | Smt T. Sujata | Internal Member |
During the year under review, no complaints of harassment at the workplace were received by the committee.
37. ACKNOWLEDGEMENTS
Your Directors place on record their appreciation of the financial assistance and support extended by ICICI and the State Bank of India. The Directors thank the shareholders for their continued confidence and trust placed by them with the Company. The Board also thanks all categories of employees of the Company for their dedicated and sincere services.
For and on behalf of the Board |
Sd/- |
Sd/- |
(N.HARI HARA PRASAD) |
(M.R.K.PRASAD) |
|
Place: Hyderabad |
Managing Director |
Director |
Date: 29th May 2025 |
DIN: 00354715 |
DIN: 01781225 |
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