Gayatri Sugars Ltd Directors Report.

To the Member(s),

Your Directors have pleasure in presenting this 25th (Twenty Fifth) Annual Report of the Company together with the Audited Statements of Accounts for the year ended 31st March, 2020.

1. HIGHLIGHTS OF FINANCIAL PERFORMANCE: Your Companys financial performance during the Financial Year 2019-20 as compared to that of the previous Financial Year 201819 is summarized below:-

(Rupees in Lakhs)

Particulars 2019-20 2018-19
Gross Income 28,172.58 31,167.93
Profit/(Loss) Before Interest, Depreciation and Exceptional Item 675.44 1,420.38
Finance Charges 2,412.67 2,351.14
Gross Profit/(Loss) before Depreciation and Exceptional Item (1,737.23) (930.76)
Provision for Depreciation 1,035.06 1,015.90
Net Profit(Loss) Before Tax and Exceptional Item (2,772.29) (1,946.66)
Exceptional Item(Re-measurement of Actuarial Valuation) (68.33) 162.93
Provision for Tax - -
Net Profit/(Loss) After Tax (2,840.62) (1,783.73)
Balance of Profit/(Loss) brought forward (13,372.20) (11,588.47)
Balance available for appropriation (16,212.83) (13,372.20)
Proposed Dividend on Equity Shares - -
Tax on proposed Dividend - -
Transfer to General Reserve - -
Deficit carried to Balance Sheet (16,212.83) (13,372.20)

2. REVIEW OF OPERATIONS:

Your Directors are pleased to report that during the year under review, the Company crushed 5.10 Lakhs Tones of Sugar cane and 5.58 Lakhs Quintals of Sugar was bagged with an average recovery of 10.95% and 23,311 tonnes of Molasses was produced. The distillery unit produced 83.55 Lakhs litres of Ethanol and Impure Spirit.

The Company registered gross revenue of Rs. 28,172.58 Lakhs for the year ended 31st March, 2020 against Rs. 31,167.93 Lakhs for the year ended 31st March, 2019. For the year 2019-20, the company earned profit of Rs. 675.44 Lakhs before Interest, Depreciation and Exceptional item compared to the profit of Rs. 1,420.38 Lakhs for the previous year 2018-19. However, there was net loss of Rs. 2,840.63 Lakhs compared to the net loss of Rs. 1,783.73 Lakhs of previous year. The Company registered a decrease of 09.61% in turnover as compared to previous years. The loss in current year is attributed to the fact that lower availability of Sugarcane due to drought conditions prevailed in the region.

i) PROSPECTS FOR THE FINANCIAL YEAR 2020-21:

Though it is too early to estimate the sugar production for sugar season 2020-21, but sowing reports from field indicates decline in sugarcane plantation due to inadequate underground water availability due to drought conditions prevailed in the zone area allotted to both factories of your company. The sugar cane harvesting for the season 2020-21 is expected on par as compared to the previous year 2019-20.

ii) COVID-19 UPDATE:

At present, the global economic environment is highly unpredictable as the duration and the impact of unprecedented COVID -19 pandemic is difficult to ascertain. After the COVID- 19 outbreak in mid-March 2020 in India, our operations were disrupted and offices & factories were closed post the nationwide lockdown announced on 24th March, 2020 and after obtaining the necessary approvals from the concerned authorities. Your Company is ensuring utmost safety of employees and business partners at factories by strictly following safeguard measures such as usage of masks / gloves, regular temperature screening, setting up disinfectant tunnels, maintaining social distancing, allowing limited workforce and regularly conducting comprehensive factory as well as Head office sanitization.

3. CHANGE IN THE NATURE OF BUSINESS, IF ANY:

During the period under review and the date of Boards Report there was no change in the nature of Business of the Company.

4. DIVIDEND:

As the Company has accumulated losses as at 31st March, 2020, the Directors could not recommend dividend on Equity Shares and due to losses, dividend on preference shares could not be paid.

5. SHARE CAPITAL:

• Total Number of Equity Shares: 4,37,03,643 (in Electronic Form : 4,36,78,200 and in Physical Form : 25,443); and

• Total Number of Preference Shares: 4,11,47,023.

Further during the financial year 2019-2020, No change in the share capital of the company.

6. BOARD MEETINGS:

During the Financial Year ended 31st March, 2020, The Board of Directors of your Company met 04 (Four) times on 09th May, 2019, 13th August, 2019, 02nd November, 2019, and 11th February, 2020. The details of Board Meetings and the attendance of the Directors thereat are provided in the Corporate Governance Report. The intervening time gap between two consecutive Meetings was within the period prescribed under the Companies Act, 2013.

7. TRANSFER TO RESERVES:

Your Directors do not propose to transfer any amount to reserves during the Financial Year ended 31st March, 2020.

8. KEY MANAGERIAL PERSONNEL AND DIRECTORS:

The following are the Key Managerial Personnel (KMP) of the Company pursuant to the

provisions of Section 203 of the Companies Act, 2013, as on 31st March, 2020:

1. Mrs. T. Sarita Reddy, Managing Director

2. Mr. V. R. Prasad, Chief Financial Officer

3. Mr. Danveer Singh, Company Secretary & Compliance Officer

And during the year under review, Mr. Chetan Kumar Sharma resigned as Company Secretary and Compliance Officer of the Company w.e.f close of working hours on 03rd December, 2019 and Mr. Danveer Singh was appointed as Company Secretary and Compliance Officer w.e.f February 12, 2020.

Independent Directors declaration:

All the Independent Directors of your Company, viz., Mr. T. R. Rajagopalan, Mr. Raghuraj Suresh Bhalerao, and Mr. Venkata Narayana Rao Paluri have registered themselves with the databank maintained by the Indian Institute of Corporate Affairs, in terms of the provisions of amended Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2019 and the Companies (Creation and Maintenance of Databank of Independent Directors) Rules, 2019.

The Company has received the necessary declaration from each Independent Director in accordance with Section 149(7) of the Companies Act, 2013, read with Regulations 16 and 25(8) of the Listing Regulations that the Independent Directos of the Company meets the criteria of independence as laid out in Section 149(6) of the Companies Act, 2013 and Regulations 16(1)(b) and 25(8) of the Listing Regulations(LODR), 2015 and the same have been taken on record by the Board after undertaking due assessment of the veracity of the same.

The criteria for determining qualifications, positive attributes and independence of Directors is provided in the Nomination and Remuneration Policy of the Company is available on the website, viz., http://www.gayatrisugars.com/ at the web link http://www.gayatrisugars.com/ CorpPolicies.html

All the Independent Directors of the Company have complied with the Code for Independent Directors prescribed in Schedule IV to the Companies Act, 2013. The details of familiarization programmes attended by the Independent Directors during the Financial Year 2019-20 are available on the website of the Company, http://www.gayatrisugars.com/ at the web link http://www.gayatrisugars.com/CorpPolicies.html

And during the year under review, Mr. J. N. Karamchetti resigned as Independent Director of the Company w.e.f 14th November, 2019 and Mr. P. V. Narayana Rao was appointed as Additional Independent Director of the Company w.e.f 11th February, 2020 by the Board of Directors at their meeting held on 11th February, 2020.

Re-appointments:

As per provisions of the Section 152 of the Companies Act, 2013, read with AOA of the company. Mrs. T. Indira Reddy, retires by rotation at this ensuing AGM and being eligible offer herself for re-appointment.

Mr. P. V. Narayana Rao was appointed as Independent Director on the Board of the Company, for a period of 5 (five) years as an Independent Director on 11th February, 2020, subject to approval of shareholders at the ensuing Annual General Meeting. Based on the

recommendations of the Nomination and Remuneration Committee, the Board appointed Mr. P. V. Narayana Rao as an Independent Director of the Company, not liable to retire by rotation, to hold the office for the first term effective from 11th February, 2020 till 10th February, 2025, subject to approval of the shareholders.

The resolutions for re-appointments of Mrs. T. Indira Reddy and Mr. P. V. Narayana Rao forms part of the notice convening the ensuing AGM scheduled to be held on Wednesday, 30th September, 2020.

The profile and particulars of experience, attributes and skills of the above Directors is disclosed in the Notice convening the AGM to be held on Wednesday, 30th September, 2020.

9. COMMITTEES OF BOARD:

Pursuant to requirement under Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, the Board of Directors has constituted various committees of Board such as Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, Risk management Committee, Corporate Social Responsibility Committee and Management committee. The details of Composition and terms of reference of these committees are mentioned in the Corporate Governance Report and available on company website also.

10. POLICY LAID DOWN BY THE NOMINATION AND REMUNERATION COMMITTEE FOR REMUNERATION OF DIRECTORS, KMP & OTHER EMPLOYEES:

The Board, on the recommendations of the Nomination and Remuneration Committee, determines the characteristics, skills and other attributes required for appointment and removal of Directors. For this, the Company has Nomination and Remuneration policy, which is performance driven and is structured to motivate Directors and Employees, recognize their merits and achievements and promote excellence in their performance.

The salient features of the policy are:

a) To guide the Board in relation to appointment and removal of Directors, Key Managerial Personnel and Senior Management.

b) To evaluate the performance of the members of the Board and provide necessary report to the Board for further evaluation.

c) To recommend to the Board on Remuneration payable to the Directors, Key Managerial Personnel and Senior Management.

d) Ensure that level and composition of remuneration is reasonable and sufficient, relationship of remuneration to performance is clear and meets appropriate performance benchmarks.

The above Policy is available on the website of the Company www.gayatrisugars.com/ at the web link http://www.gayatrisugars.com/CorpPolicies.html Manner in Which Formal Annual Evaluation has been made by the Board of its Own Performance and that of its Committees and Individual Directors:

Pursuant to the provisions of the Companies Act 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Board has carried out evaluation of (i) its own performance, (ii) the directors individually and (iii) working of its Committees. The manner in which the evaluation was carried out as detailed below:

(a) Nomination & Remuneration Committee: Pursuant to the provisions of the Companies Act 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Nomination and Remuneration Committee has formulated the criteria for evaluation of directors and evaluated every director. A structured questionnaire was prepared after taking into consideration of various parameters such as attendance and participation in meetings, monitoring corporate governance practices, independence of judgment, safeguarding the interests of the Company etc., and accordingly the evaluation was made. The Members of the Committee evaluated the individual directors at its meeting held on 11.02.2020.

The Nomination and Remuneration Committee decided that since the performance of the directors has been excellent, it is decided to continue with the term of the directors and also recommended to the Board of Directors for appointment of Mr. P. V. Narayana Rao as an Independent Director of the Company, not liable to retire by rotation, to hold the office for the first term effective from February 11th, 2020 till February 10th, 2025.

(b) Separate Meeting of Independent Directors: The Independent directors of the Company at its meeting held on 11.02.2020

(a) Reviewed the performance of the Non-Independent directors and Board;

(b) Reviewed the performance of the Chairperson of the Company; and

(c) Assessed the quality, quantity and timeliness of flow of information between the Company management and the Board etc. All the Independent Directors attended the meeting.

A structured questionnaire was prepared after taking into consideration various parameters such as attendance and participation in meetings, monitoring corporate governance practices, independence of judgment, safeguarding the interests of the Company etc., and accordingly, the evaluation was made. The Independent directors evaluated the Non-Independent directors.

The Independent Directors decided that since the performance of the Non-Independent Directors (including Managing Director and Non- Executive Directors) is satisfactory, the term of their appointment be continued.

The Independent Directors after review of the performance of the Chairperson decided that the Chairperson has good experience, knowledge and understanding of the Boards functioning and her performance is excellent. The Independent Directors decided that the information flow between the Companys Management and the Board is excellent.

(c) Evaluation by Board: The Board has carried out the annual performance evaluation of its own performance, the Directors individually (excluding the director being evaluated) as well as the evaluation of the working of its Committees. A structured questionnaire was prepared after taking into consideration various aspects of the Boards functioning such as adequacy of the composition of the Board and its Committees, effectiveness in developing Corporate Governance structure to fulfil its responsibilities, execution and performance of specific duties etc. The Board decided that the performance of individual directors, its own performance and working of the committees is excellent.

11. DIRECTORS RESPONSIBILITY STATEMENT:

In pursuance of section 134 (5) of the Companies Act, 2013, the Directors hereby confirm that:

(a) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) the directors had 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 at the end of the financial year and of the profit and loss of the Company for that period;

(c) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(d) The directors had prepared the annual accounts on a going concern basis;

(e) 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 except for the material weakness/deficiency; and

(f) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

12. INFORMATION ABOUT THE FINANCIAL PERFORMANCE / FINANCIAL POSITION OF THE SUBSIDIARIES / ASSOCIATES/ JOINT VENTURES:

There are no Companies which have become or ceased to be its Subsidiaries, Joint Venture or Associate Companies during the year.

13. EXTRACT OF ANNUAL RETURN:

As required pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014, an extract of annual return in Form MGT-9 as part of this Annual Report is enclosed as Annexure I.

14. STATUTORY AUDITORS AND THEIR REPORT:

M/s. MOS & Associates LLP, Chartered Accountants were appointed as Statutory Auditors of the Company at the 22nd Annual General Meeting held on June 29, 2017 for a term of five consecutive years from the conclusion of 22nd Annual General Meeting [AGM] till the conclusion of 27th Annual General Meeting. They have confirmed that they are not disqualified from continuing as Auditors of the Company.

The Auditors Report to the members of the Company on the financial statements for the financial Year ended March 31,2020 forming part of this report contains a qualified opinion on estimating the Electricity duty amounting to Rs. 283.99 Lakhs as a Contingent Liability and on internal financial control over the financial reporting as per note No. 28.16 forming part of the financial statements. In the event of an un-favourable verdict/outcome in this matter, the Management based on the Supreme Courts interim orders and considering the inherent uncertainty in predicting the final outcome of the above litigation estimates the impact of the potential liability to be Rs. 170 lakhs.

15. SECRETARIAL AUDIT:

As per the provisions of the Section 204(1) of the Companies Act, 2013, the Company has appointed Mr. Y. Koteswara Rao, Practising Company Secretary to conduct Secretarial Audit of the records and documents of the Company. The Secretarial Audit Report for the Financial Year ended March 31,2020 in Form No MR-3 is annexed to the Directors Report as Annexure

- II and forms part of this Report. The Secretarial Auditors Report to the Members of the Company for the Financial Year ended March 31,2020 does not contain any qualification(s) or adverse observations.

16. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE OUTGO:

The required information as per Sec. 134(3)(m) of the Companies Act 2013 and Rule 8(3) of Companies (Accounts) Rules, 2014 is provided hereunder:

A. Conservation of Energy:

i) The steps taken or impact on conservation of energy:

The Company has already installed the required energy conservation equipments and hence no additions were made during the year.

ii) Step taken by the Company for utilizing alternate source of energy:

The company doesnt have alternative source of Energy, since the Company has Co-gen power facility.

iii) Capital investment on energy conservation equipments:

During the year no investment was made towards energy conservation equipments.

B. Technology Absorption:

i) Efforts made towards Technology Absorption:

Certain modification were undertaken to reduce power Consumption in earlier financial year. In the current year no such requirement was there.

ii) The benefit derived like product improvement, cost reduction, product development or import substitution, etc.

The benefit derived is same as the earlier year.

iii) Details of Technology imported during the last 3 years reckoned from the beginning of the financial year:

During the period of last three years, there was no import of Technology.

iv) Expenditure incurred on Research & Development:

There was no expenditure incurred on Research and Development.

C. Foreign Exchange Earnings and Out Go:

Foreign Exchange Earnings : NIL

Foreign Exchange Outgo : NIL

17. DETAILS OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS:

The Companys internal control system is aimed at proper utilisation and safeguarding of the Companys resources and promoting operational efficiency. The internal audit process reviews the in-system checks, covering significant operational areas regularly.

The Companys Audit Committee is responsible for reviewing the Audit Report submitted by the Internal Auditors. Suggestions for improvements are considered and the Audit Committee follows up on the implementation of corrective actions. The Audit Committee also invites the Statutory and Internal Auditors for regular meetings to ascertain their views

on the adequacy of internal control systems and keeps the Board of Directors informed of its observations from time to time.

The statutory auditors had a qualified opinion on the Internal financial controls over the financial reporting stating that material weakness has been identified as at March 31,2020 in the Company relating to deficiency in internal financial controls over financial reporting in respect of management assessment of estimating potential liability relating to disputed matter as per Note No. 28.16 forming part of financial statements.

The Management conducted an assessment of the effectiveness of the internal control over financial reporting using the criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. Based on this assessment, Management is of the view that based on Supreme Courts interim orders and considering the inherent uncertainty in predicting the final outcome of the above litigations estimates the impact of potential liability to be Rs. 170 Lakhs.

18. PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED:

Particulars of loans, guarantees given and investments made during the year under review in accordance with section 186 of the Companies Act, 2013 is annexed to this report. (Annexure - III)

19. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

The Management Discussion and Analysis Report for the Financial Year under review, as stipulated under Regulation 34(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, forms a part of the Annual Report as Annexure -IV.

20. RISK MANAGEMENT:

The Company has been addressing various risks impacting the Company and developed risk policy and procedures to inform Board members about the risk assessment and minimization procedures.

21. WHISTLE BLOWER POLICY/VIGIL MECHANISM:

Pursuant to Section 177 of the Companies Act, 2013 and the Rules framed there under and pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Company has established a mechanism through which all the stakeholders can report the suspected frauds and genuine grievances to the appropriate authority. The Whistle Blower Policy which has been approved by the Board of Directors of the Company has been hosted on the website of the Company at http://www.gayatrisugars.com/Investors/Corporate Governance/Policies

22. DISCLOSURE AS PER SECTION 22 OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

Pursuant to the requirements of Section 22 of Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 read with Rules there under, the Company has not received any complaint of sexual harassment during the year under review. Further the Company has complied with the provisions relating to the constitution of Internal

Complaints Committee (ICC) under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

23. CORPORATE SOCIAL RESPONSIBILTY ("CSR"):

Pursuant to Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, as amended, read with schedule VII, The Board of Directors constituted Corporate Social Responsibility Committee at Board Meeting held on August 14, 2017. The details of the Committee are given in Corporate Governance Report (Annexure V). The Company has adopted Corporate Social Responsibility Policy and the CSR policy is also available on the website of the Company www.gayatrisugars.com During the year under review the Company has spent Rs. 06.33 Lakhs on CSR Activities. Annual Report on CSR activities, in terms of Section 135 of the Companies Act, 2013 and the Rules framed there under is annexed to this report (Annexure VI).

24. SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS:

Demand of Rs. 1,38,81,669/- was raised by the Commissioner of Customs, Central Excise & Service Tax, Hyderabad-1 Commissionarate, being the amount equal to 10% or 5% of the value of Exempted goods i.e. Electricity sold by the company for the period Nov-2006 to Dec-2010 in the case of Kamareddy Unit of Rs. 58.53 Lakhs and for the period Mar- 2006 to Mar-2012 in the case of Nizamsagar Unit of Rs. 80.29 Lakhs both put together Rs 138.82 Lakhs.

The Customs, Excise and Service Tax Appellate Tribunal, Regional Bench at Hyderabad has set aside the impugned order for Excise Duty demand of Rs. 58.53 Lakhs vide Order No. A/30534/2018, dated 19/02/2018 relating to Kamareddy Unit of the Company.

The Customs, Excise and Service Tax Appellate Tribunal, Regional Bench at Hyderabad yet to hear relating to Nizamsagar Unit Demand of Rs 80.29 Lakhs.

25. CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

The policy on dealing with Related Party Transactions is disseminated on the website of the company at http://www.gayatrisugars.com/CorpPolicies.html

The details of Related Party Transactions entered by the Company in the ordinary course of Business at arms length basis are detailed in the notes forming part of the financial statements.

26. DEPOSIT:

Your Company has not accepted or renewed any deposit from public during the year under review.

27. DISCLOSURE ABOUT COST AUDIT:

As per section 148 of the Companies Act, 2013 and rule 14 of the Companies (Audit and Auditors) Rules, 2014, Company is required to appoint Cost Auditor. The Board of directors and the Audit Committee of the Board has approved the appointment of M/s. Narasimha Murthy & Co., as Cost Auditor to audit the cost records of Sugar, Power and Distillery division of the Company for the financial year 2020-21 and the remuneration payable to them for the Financial Year 2020-21 is subject to ratification by the shareholders of the Company.

Further as per section 148(1) of the Companies Act, 2013 read with Companies (Accounts) Amendment Rules, 2018, maintenance of cost records as specified by the Central

Government under sub section (1) of the Companies Act, 2013, is required by the Company and accordingly such accounts and records are made and maintained.

28. PARTICULARS OF EMPLOYEES:

Details in respect of remuneration paid to employees as required under Section 197 (12) of the Companies Act, 2013, read with Rule 5(2) & (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended forms part of this report. In terms of Section 136 of the Companies Act, 2013 the same is open for inspection at the Registered Office of the Company. Copies of this statement may be obtained by the members by writing to the Company Secretary at the Registered Office of the Company.

The ratio of the remuneration of each Director to the median employees remuneration and other details in terms of Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are enclosed in Annexure - VII and forms part of this Report.

29. LISTING WITH STOCK EXCHANGES:

The Company confirms that it has paid the Annual Listing Fees for the year 2020-21 to BSE Limited where the Companys Shares are listed.

30. FRAUD REPORTING:

There have been no instances of frauds reported by the Auditors under Section 143(12) of the Companies Act, 2013 and the Rules framed thereunder, either to the Company or to the Central Government.

31. DEPOSITORY SYSTEM:

Your Companys Equity Shares are available for dematerialization through National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL).

32. CORPORATE GOVERNANCE AND SHAREHOLDERS INFORMATION:

Your Company has taken adequate steps to adhere to all the stipulations laid down in Regulation 34 read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. A report on Corporate Governance is included as a part of this Annual Report as Annexure -V. Certificate from the practicing Company Secretary confirming the compliance with the conditions of Corporate Governance as stipulated under aforesaid regulations is attached to this report.

33. SECRETARIAL STANDARDS:

The Company has in place proper system to ensure compliance with provisions of the applicable Secretarial Standards issued by The Institute of Company Secretary Of India (ICSI) and such system are adequate and operating effectively.

34. AWARDS AND ACCOLADES:

The company bagged the following Awards from South Ind Technologists Association (SISSTA) for the past years from 2012

ia Sugar Cane and Sugar -13 onwards: -

Year Category Award
2018-19 Best Technical Efficiency Platinum Award
2018-19 Best Sugar Cane Development Platinum Award
2018-19 Best Co-Generation Golden Award
2017-18 Best Cogeneration Platinum Award
2017-18 Best Technical Efficiency Golden Award
2015-16 Best Cogeneration Platinum Award
2014-15 Best Cogeneration Platinum Award
2014-15 Best Technical Efficiency Silver Award
2014-15 Best Sugarcane Development Silver Award
2012-13 Best Cogeneration Platinum Award
2012-13 Best Sugarcane Development Golden Award
2012-13 Best Technical Efficiency Silver

35. ACKNOWLEDGEMENTS:

Your Directors would like to acknowledge and place on record their sincere appreciation to all stakeholders, clients, Banks, Central and State Governments, the Companies valued investors and all other business partners for their continued co-operation and excellent support received during the year.

Yours Directors recognize and appreciate the efforts and hard work of all the employees of the Company and their continued contribution to its progress.

For and on behalf of the Board of Directors

sd/- sd/-
(T. SARITA REDDY) (T.V. SANDEEP KUMAR REDDY)
Place: Hyderabad Managing Director Vice Chairman
Date: 18.06.2020 DIN: 00017122 DIN: 00005573