Flora Textiles Ltd Management Discussions

1. Overview

The financial year 2024-25 marked a transformational phase for Anirit Ventures Limited ("the Company"). Following the successful acquisition of a majority stake by Oilmax Energy Private Limited (Oilmax) through the SEBI Takeover Regulations in September 2024 and the subsequent change in name from Flora Textiles Limited to Anirit Ventures Limited in December 2024, the Company has undergone a strategic repositioning to align with its renewed vision.

Previously engaged in trading and job-work manufacturing of yarn and fabric, the Company has now strategically repositioned itself as a forward-looking and sustainability-driven enterprise. Its renewed business focus spans a diversified portfolio including Biomass-to-energy and innovation-led advanced materials, aligned with Indias transition to clean energy.

During FY 2024-25, the focus was on capability and capacity building, strengthening governance, aligning organizational structures, and developing a growth strategy in green energy and advanced materials. Although there were marginal operating revenues during this year, the Company has set a clear vision to achieve scalable and profitable growth in environmentally responsible businesses.

2. Industry Overview

2.1 The Global Scenario:

The global transition towards low-carbon and sustainable energy solutions is accelerating, with different regions leading in specific domains:

• Biomass-to-energy

Germany is the global leader in biogas adoption, with 9,500 biogas plants generating 95 TWh annually. Its early policy push under the Renewable Energy Sources Act (EEG) created a thriving ecosystem for biomethane, CBG, and grid integration.

• Innovation led business

The U.S. and Japan are leaders in innovation-driven sustainability, driving programs in next-generation coatings, smart materials, and advanced thermal management solutions. Their strong university-industry ecosystems enable rapid commercialization of R&D breakthroughs.

2.2 The Indian Scenario:

India, with its Net Zero 2070 pledge and surging energy demand, is one of the fastest-growing clean energy markets. The Government has rolled out enabling policies and schemes:

• SATAT (Sustainable Alternative Towards Affordable Transportation) to promote CBG production and offtake through assured buyback by Oil Marketing Companies.

• National Green Hydrogen Mission to accelerate biomass gasification and hydrogen production.

• Programs supporting innovation in sustainable cooling and energy efficiency, including IIT-led research collaborations.

This strong alignment of policy, natural resource availability, and demand positions India as a fertile ground for Anirit Ventures green energy and innovation agenda.

2.2.1 India Today: The Opportunity for Anirit Ventures:

Biomass-to-Energy

• India has over 5 million household-scale biogas units, but only ~876 medium to large-scale plants above 5 m³/day capacity.

• There are just 120+ operational CBG plants, with ~500 under development.

• Against the SATAT target of 5,000 CBG plants producing 15 MMT annually, only 75 plants have been commissioned so far, though 2,212 LOIs have been issued.

• By 2030, CBG production is projected at 0.8 bcm/year, of which only ~50% is expected to be utilized under current trends.

India has set ambitious targets but is still in the early stages of scaling. Anirit Ventures aims to bridge this gap through integrated biomass projects from captive feedstock cultivation to CBG production, gasification, and downstream hydrogen/power pathways leveraging group synergies and technology partnerships.

Innovation & Development - led business

Indias innovation ecosystem is scaling rapidly: IITs, IISc, and national labs are working on next-generation cooling, energy-efficient materials, and green coatings.

• Government support through schemes like PRISM (Promoting Innovations in Individuals, Startups, MSMEs) and collaborations under the National Mission are catalyzing applied R&D.

• Despite progress, commercialization rates remain low, with only 10-15% of lab-scale innovations reaching pilot or industrial scale.

Anirit Ventures is focused on scaling innovations in Passive Radiative Cooling (PRC), Phase Change Materials (PCMs), and energy-efficient coatings by working with institutions such as IIT Bombay. Alongside M&A and joint venture opportunities, the Company intends to rapidly bring advanced materials from the lab to commercial deployment.

3. Operational and Financial Performance (FY 2024-25):

FY 2024-25 was a transition year for the Company. The focus was on:

• Completing the transformation from Flora Textiles Limited to Anirit Ventures Limited after acquisition by the Oilmax Group.

• Restructuring, capacity building, governance strengthening, and strategic repositioning towards sustainability-led businesses.

Key Financial highlights are:

Particulars	2024-25	2023-24
Revenue from Operations (in Lakhs)	9.63	45.73
Total Income (in Lakhs)	10.01	651.12
Net Profit (in Lakhs)	(78.69)	607
Earning per Share (EPS) (in )	1.31	10.13

4. Future plans and strategic priorities Agro-based Biomass to Green Energy

• Develop an integrated biomass-to-energy value chain, from captive feedstock and CBG to biofuels, gasification- based power, and in near future hydrogen.

• Establish technology leadership through JVs with global leaders in biogas and biofuels.

• Leverage group synergies in EPC, O&M, offtake, and R&D to accelerate scale-up.

Innovation & Development

• Advance sustainable cooling and thermal management solutions, in collaboration with IIT Bombay, with focus on Passive Radiative Cooling (PRC) and Phase Change Materials (PCMs).

• Pursue strategic partnerships, M&A, and joint ventures to build an innovation-led portfolio in green coatings, advanced materials, and climate-adaptive technologies.

5. Way forward

Anirit Ventures is poised to emerge as a next-generation sustainability enterprise, integrating biomass-to-energy and advanced material technologies into a cohesive growth strategy. By combining technology leadership, strong partnerships, and group synergies, the Company aims to achieve becoming a mid-size company within 5 years, while contributing meaningfully to Indias energy transition and sustainability goals.