Indraprastha Medical Corporation Ltd Directors Report

Your Directors are pleased to present the thirty-sixth Annual Report and the audited financial statements for the financial year ended 31^st March, 2024.

FINANCIAL RESULTS

(Rs. in crore except per share data)

Particulars	FY 2023-24	FY 2022-23
Income from Operations	1244.70	1098.67
Profit before tax	166.11	117.18
Provisions for Tax	42.15	31.03
Profit for the year	123.96	86.15
Earnings per share	13.52	9.40

RESULTS OF OPERATIONS

During the year under review, the Company recorded income from operations Rs. 1244.70 crore against Rs.fi1098.67 crore in the corresponding period last fiscal – an increase of 13%.

The Profit Before Tax for financial year ended 31^st March, 2024, stood at Rs. 166.11 crore as compared to profit of Rs. 117.18 crore for the corresponding period of the previous year – an increase of 42%. The Profit After Tax for year ended 31^st March, 2024, stood at Rs. 123.96 crore as compared to a profit of Rs. 86.15 crore for the corresponding period of the previous year – an increase of 44%.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE COMPANY

No material changes and commitment affecting the financial position of the Company, has occurred between the financial year ended on 31^st March, 2024, and the date of the report. There has been no change in the nature of business of the Company.

DIVIDEND

The Board of Directors have recommended a dividend of Rs. 4.50 per equity share (45% on face value of Rs. 10 per share) on the paid-up equity share capital of the company for the financial year ended 31^st March, 2024, amounting to Rs. 41.25 crores, which if approved, at the forthcoming Annual General Meeting on 24^th September, 2024, will be paid to those shareholders whose names appear in the Register of Members as at the closing hours of business on 24^th September, 2024. In respect of shares held in electronic form, the dividend will be paid on the basis of beneficial ownership furnished by the depositories viz., NSDL and CDSL for this purpose. In view of the changes made under the Income-tax Act, 1961, by the Finance Act, 2020, dividends paid or distributed by the Company shall be taxable in the hands of the shareholders. Your Company shall, accordingly, make the payment of the dividend after deduction of tax at source.

DIVIDEND DISTRIBUTION POLICY

The Board approved and adopted a dividend distribution policy which is posted on the Companys website at https:// www.apollohospitals.com/delhi/pdf/Dividend-Distribution-Policy.pdf

TRANSFER TO RESERVES

The Company does not propose to transfer any amount to the General Reserve out of the amount available for appropriation in the current year.

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

The Company has no subsidiaries or associate companies. Also, it does not have any joint venture operation with any other entity.

THE STATE OF COMPANY AFFAIRS

Your Company has reassessed and innovated its practices, enhancing both service delivery and the skillset of the doctors and support staff. With this forward-thinking mindset, the Company has introduced numerous subspecialized services across all disciplines, aiming to provide the best possible care to the patients.

Today, your Company is the first and only centre in North India to perform Robotic Cardiac Surgeries at a large scale. The Company has successfully performed more than 30 robotic cardiac surgeries, with zero mortality and it is working towards making Aortic surgeries easily accessible for the affected segment. Your Hospital performs the largest number of Leadless pacemakers in India. One particularly heart-warming success story is that of a 2-year-old child with a failing heart, who was sustained on a Berlin Heart, an artificial heart, for four months. During this time, a suitable cadaveric heart became available for donation. The child subsequently underwent a successful heart transplant and was later discharged. Stories like this reaffirms our belief in hospitals significant contribution to the betterment of the society.

Your Hospital continues to prioritize preventive healthcare and remains focused on initiatives like ProHealth ZEN and personalized health checks.

Several complex procedures were performed by the team of clinicians, bringing respite to many chronically ill patients and their families.

During the year under review, the following rare procedures were performed at the hospital: -

A 70-year-old Australian woman with possible recurrence of ovarian/fallopian tube cancer, initially treated in 2015, underwent a laparoscopic excision of the recurrent tumor and umbilical nodule followed by dendritic cell therapy (DCT), which is an advanced treatment option using the patients immune cells to target cancer.

An "ascending aorta and aortic arch replacement with frozen elephant trunk" was performed in a 58-year-old Kenyan patient with an ascending aorta aneurysm with dilated aortic arch and ulcer in proximal descending aorta. All the arch branches were reimplanted onto the prosthetic graft. The part of the procedure was done on "total circulatory arrest" using a special hybrid graft "Thorafiex".

The first robotic hip replacement using the direct anterior approach (bikini incision hip replacement) was performed for the first time in North India. It enhances accuracy and reduces complications.

The first supine PCNL for renal stones is an evolutionary change in the procedure and was performed for the first time in Apollo Delhi.

Successful Reverse Shoulder Replacement for Neglected Proximal Humerus Fracture in a 75-year-old male presenting with a painful left shoulder for the past 9 months following a fall. It was a challenging case as there was severe osteoporosis with proximal humeral bone loss and atrophied shoulder girdle musculature.

A multidisciplinary team, including Physicists, Neurosurgeons, ENT specialists, and Oncologists, successfully treated over 30 patients with various conditions using Stereotactic Gyroscopic Radiosurgery (Zap-X) for the first time in South Asia, with ongoing active follow-up.

Awards and Accolades

The Hospital received a number of awards and accolades during the year. Some of them are as under: -

Best Private Multispecialty Hospital in Delhi by The Week - Hansa Research Survey

AHPI Award validation survey

Best patient centric hospital Award received from AHPI

Fire and Life Safety Excellence Award in the North Region received from CAHOCON

2^nd Prize in Poster and Paper presentation on RFID Project in Blood Bank

Accreditation

Healthcare accreditation is one of the major steps towards improving quality and patient safety. Your Hospital was the first hospital in the country to get Joint Commission International (JCI) accreditation in the year 2005. It has been reaccredited for the seventh time in December, 2023.This milestone is a testament to our commitment to maintaining the highest standards of patient care and safety.

On a Public Interest Litigation (PIL) regarding free treatment in the hospital, the Honble Delhi High Court vide its order dated 22^nd September, 2009, has held that free treatment provided by the hospital shall be inclusive of medicines & medical consumables.

The Company has filed a Special Leave Petition (SLP) before the Honble Supreme Court of India challenging the order of the Honble Delhi High Court. The Honble Supreme Court has admitted the SLP and has passed an interim order on 30^th November, 2009, pursuant to which, the Company has been providing free treatment to the patients referred by the Government of NCT of Delhi and has been charging only for medicines & medical consumables. The financial impact in the matter can be quantified only after the final decision by the Honble Supreme Court of India.

The Directorate of Health Services, Government of NCT of Delhi, has appointed a Nodal Medical Officer to be permanently stationed in the Hospital to support, guide and monitor the treatment of patients referred by the Government.

The Company has moved an Interlocutory Application before the Honble Supreme Court seeking direction that the conditions relating to provision of free treatment facilities for patients belonging to indigent category to the extent of 10% IPD and 25% OPD be made applicable to the Company as have been made applicable in case of other hospitals. Additionally, the Company has also made representations before the Government of NCT of Delhi to allow the Company to extend free treatment including medicines and consumables up to 10% IPD and 25% OPD as applicable to other hospitals.

During the year, a total of 40,984 patients (36,655 Out Patients and 4,329 In Patients) were treated under the free category.

CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of corporate governance and adhere to the corporate governance requirements set out by SEBI. The report on corporate governance as required under the Listing Regulations, forms an integral part of this report. The requisite certificate from Practicing Company Secretary Mr. Baldev Singh Kashtwal, confirming the compliance with the conditions of corporate governance is attached to the report on Corporate Governance.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report for the year under review, as stipulated under Listing Regulations, forms an integral part of this report.

BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORT

In terms of the provisions of the Listing Regulations, the Business Responsibility & Sustainability Report is not appliable to the Company.

SEXUAL HARASSMENT POLICY

The Company has adopted a policy on prevention, prohibition and redressal of sexual harassment at the workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, and the rules framed thereunder. The Company has an Internal Complaints Committee for providing a redressal mechanism pertaining to sexual harassment of women employees at the work place. During the year, six complaints were received under the policy and all of them were disposedfioff.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has established a vigil mechanism for Directors and Employees to report their genuine concerns, the details of which are given in the Corporate Governance Report. The Whistle Blower Policy may be accessed on the Companys website on the https://cdn.apollohospitals.com/delhi/2024/Whistle-Blower-Policy.pdf During the year, no matter or incident has been received under the Whistle Blower Policy of the Company.

PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED

During the year, the Company has not given any loan or made an investment, nor given any guarantee in terms of Section 186 of the Companies Act, 2013.

DEPOSITS

During the year, the Company has not accepted any deposit as contemplated under Chapter V of the Companies Act, 2013.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

Board Composition and Independent Directors

As at the end of the day on 31^st March, 2024, the Board consisted of four Non-Executive - Non-Independent Director, one Executive Director and six Independent Directors.

Independent directors are appointed, based on the recommendation of the Nomination and Remuneration Committee, for a term of five years and are not liable to retire by rotation. In the opinion of the Board, the Independent Directors fulfil the conditions specified in the Listing Regulations and are independent of the management.

All Independent Directors have given their declarations that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013, and Regulation 16(b) of the SEBI Listing Regulations.

In the opinion of the Board, the Independent Directors possess the requisite expertise and experience and are persons of high integrity and repute. They fulfill the conditions specified in the Act and the Listing Regulations and they are independent of the management.

Retirement by Rotation

Pursuant to Section 152 of the Companies Act, 2013, Prof. (Dr.) Mahesh Verma and Dr. Sangita Reddy, Directors, retire by rotation at the ensuing Annual General Meeting and being eligible, have offered themselves for re-appointment. Based on the outcome of the performance evaluation process, the Board recommends their reappointment. The notice convening the AGM, to be held on 24^th September, 2024, sets out the relevant details.

Further, pursuant to SEBIs amendment dated 15^th July, 2023, applicable with effect from 1^st April, 2024 read with Regulation 17(1D) of SEBI Listing Regulations, 2015, the continuation of a Director serving on the Board of

23

Directors of a listed entity shall be subject to the approval by the Members at a general meeting at least once in every five (5) years from the date of their appointment or reappointment, as the case may be. The continuation of director serving on the Board of Directors of a listed entity as on 31^st March, 2024, without the approval of the Members for a period of last five (5) years or more shall be subject to the approval of Members in the first general meeting to be held after 31^st March, 2024.

Dr. Prathap C Reddy is the founder of the Apollo Hospitals Group. He has been on the Board of the Company since its inception in the year 1988. He is the Vice Chairman of the Company. As per Article 102 of the Articles of Association of the Company, the Vice Chairman of the Company shall not be liable to retire by rotation. The Company has made remarkable progress under the stewardship of Dr. Prathap C Reddy since its inception. The Apollo Hospitals Group is also widely recognised as being among Asias leading healthcare service providers. The Board deems extending the tenure of Dr. Prathap C. Reddy for another 5 (five) years essential and therefore, the Board of Directors, at its meeting held on 5^th August, 2024, and on the recommendation of the Nomination and Remuneration Committee, approved the continuation of Dr. Prathap C. Reddy as a Non-Executive Director, subject to the approval of the shareholders at the 36^th Annual General Meeting.

Change in Board Composition

Mr. Udit Prakash Rai (DIN - 07573658) - Non-Executive

- Non-Independent Director (Nominee Director of Govt. of NCT of Delhi), had resigned, as a Director of the Company, w.e.f. 4^th August, 2023, due to his personal reasons.

The Govt. of NCT of Delhi had withdrawn the nomination of Mr. Jasmine Shah (DIN: 08621290) from the Board of Directors of the Company, and accordingly, Mr. Jasmine Shah had ceased to be the Non-Executive Director & Chairman of the Company w.e.f. 1^st December, 2023. Mr. Vikram Bhat (DIN 09076418) - Non-Executive - Non-Independent Director (Nominee Director of Govt. of NCT of Delhi) had resigned as a Director of the Company, w.e.f. 28^th March, 2024, due to his personal reasons. Mr. S. Regunathan (DIN 00286505), Mr. Deepak Vaidya (DIN 00337276) and Mr. Satnam Arora (DIN 00010667) have completed their tenure for second term of five (5) consecutive years on 31^st March, 2024, as Independent Director on the Board of Directors of the Company, and thus ceased to be Directors of the Company.

Mr. Sandip Somany (DIN 00053597) and Mr. Tejpreet Singh Chopra (DIN 00317683) have been appointed as Independent Directors of the Company, for a period of

5 consecutive years effective from 1^st April, 2024 to 31^st March, 2029.

The Company is yet to get nomination from the Govt. of NCT of Delhi for appointment of Directors in place of Mr. Jasmine Shah, Mr. Udit Prakash Rai and Mr. Vikram Bhat.

The Board places on record its appreciation for the invaluable contribution and guidance given by Mr. S. Regunathan, Mr. Deepak Vaidya, Mr. Satnam Arora, Mr. Jasmine Shah, Mr. Vikram Bhat and Mr. Udit Prakash Rai.

Re-appointment of Executive Director

The Board of Directors, at its meeting held on 5^th August, 2024, and on the recommendation of the Nomination and Remuneration Committee, approved the re-appointment of Mr. Shivakumar Pattabhiraman as Managing Director for a period of 2 (two) years with effect from 5^th November, 2024 to 4^th November, 2026, subject to the approval of the shareholders at the 36^th AGM and such other approvals, as may be necessary.

The Board recommends the aforesaid re-appointment to the shareholders for approval. Relevant details pertaining to the proposal, including terms of re-appointment and remuneration, are provided as part of the Notice convening the 36^th AGM.

Key Managerial Personnel

Pursuant to the provisions of Section 203 of the Companies Act, 2013, the Key Managerial Personnel of the Company are Mr. Shivakumar Pattabhiraman - Managing Director, Mr. Chander Prakash Tyagi - Chief Financial Officer and Mr. Priya Ranjan - Associate Vice President - Corporate Affairs & Legal.

BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013, and in terms of Regulation 17(10) of the SEBI Listing Regulations, the Board has carried out an annual performance evaluation of its own performance, the Directors individually as well as the working of the Committees. The manner in which the evaluation has been carried out has been enumerated in the Corporate Governance Report.

NOMINATION & REMUNERATION POLICY

The Board has, on the recommendation of the Nomination and Remuneration Committee, approved a policy for selection and appointment of Directors, Senior Management team and their remuneration. Note on the Remuneration Policy is mentioned in the Corporate Governance Report.

MEETINGS OF THE BOARD

The Board met seven times during the financial year, the details of which are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013, read with the Listing Regulations.

RISK MANAGEMENT

The Board of Directors has constituted a Risk Management Committee to identify elements of risk in different areas of operations and to develop a policy for actions associated to mitigate the risks. The Committee on a timely basis informed the members of the Board about risk assessment and minimization procedures. In the opinion of the Committee, there was no risk that may threaten the existence of the Company. The details of the Risk Management Committee are included in the Corporate Governance Report.

INTERNAL FINANCIAL CONTROLS AND THEIR ADEQUACY

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations.

The Internal Audit function reports to the Audit Committee to maintain its objectivity and independence. Details of the internal control system and its terms of reference are set out in the Management Discussion and Analysis Report forming part of the Boards Report.

The Board of Directors has laid down internal financial controls to be followed by the Company and the policies and procedures to be adopted by the Company for ensuring the orderly and efficient conduct of its business, including adherence to the Companys policies, the safeguarding of its assets, prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information. The Audit Committee evaluates the internal financial control systems periodically.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

There are no significant material orders passed by the Regulators / Courts which would impact the going concern status of the Company and its future operations.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act 2013, the Board of Directors, to the best of their knowledge, hereby state and confirm: a. that in the preparation of the annual financial statements for the year ended 31^st March, 2024, the applicable accounting standards have been followed along with proper explanations relating to material departures, if any; b. that such accounting policies have been selected and applied consistently, and judgement and estimates have been made 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^st March, 2024, and of the profit of the Company for the year ended on that date; c. that proper and sufficient care has been taken 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. that the annual financial statements have been prepared on a going concern basis; e. that proper internal financial controls were in place and that the financial controls were adequate and were operating effectively; f. that systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively.

SHARE CAPITAL

The paid-up Equity Share Capital as on 31^st March, 2024, was Rs. 91.67 crore.

During the year under review, the Company has not issued shares with differential voting rights nor granted stock options nor sweat equity. As of 31^st March, 2024, the details of shareholding in the Company held by the Directors are set out in the Corporate Governance Report forming part of the Boards Report.

EMPLOYEE STOCK OPTIONS

No Employee Stock Options have been granted to the employees of the Company and thus no disclosure is required.

CREDIT RATINGS

During the year ended 31^st March, 2024, ICRA has reaffirmed: a. long-term credit rating of [ICRA]AA (pronounced ICRA Double A) and short-term rating of [ICRA]A1+ (pronounced ICRA A One Plus) for Rs. 62.50 crore bank facilities; and b. short-term credit rating of [ICRA]A1+ (pronounced ICRA A One Plus) for Rs. 40 crore Commercial Paper to the Company.

CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES

All contracts / arrangements / transactions entered by the Company during the financial year with related parties were in the ordinary course of business and on an arms length basis. During the year, the Company has not entered into any contract / arrangement / transaction with related parties which could be considered material in accordance with the policy of the Company on materiality of related party transactions.

The policy on materiality of related party transactions as approved by the Board may be accessed on the Companys website at Policy-on-Materiality-of-Related-Party-Transactions-and-Dealing-with-Related-Party-Transactions.pdf (apollohospitals.com).

Your Directors draw the attention of the members to Notes to the financial statements which sets out related party disclosures. None of the Directors have any pecuniary relationships or transactions vis-a-vis the Company save and except to the extent as set out in the related party disclosures.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, a statement showing the names and other particulars of the employees drawing remuneration in excess of the limits set out in the said rules are provided in the Annual Report, which forms part of this Report. Disclosures relating to remuneration and other details as required under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are also provided in the Annual Report, which forms part of this Report. However, having regard to the provisions of Section 136(1) read with the relevant provisions of the Companies Act, 2013, the Annual Report excluding the aforesaid information is being sent to the members of the Company. The said information is available for inspection at the Registered Office of the Company during working hours.

Any member interested in obtaining such information may write to the Company Secretary and the same will be furnished free of cost.

INDUSTRIAL RELATIONS

The Industrial Relations continued to be cordial during the year under review.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

As part of its initiatives under Corporate Social Responsibility (CSR), the Company has undertaken projects in the areas of Rural Development, Healthcare, Education & Skill Development and Research in Healthcare.

These projects are in accordance with Schedule VII of the Companies Act, 2013. The Report on CSR activities for the financial year 2023-24 is annexed herewith marked as Annexure - 1 to this Report.

STATUTORY AUDITORS

The Members at the Annual General Meeting held on 23^rd September, 2022, had approved the re-appointment of Statutory Auditors of your Company namely, M/s S.N. Dhawan & Co., LLP, Chartered Accountants, for the second and final term of five consecutive years, to hold office from the conclusion of the 34^th AGM till the conclusion of the 39^th AGM to be held in the year 2027.

The Report given by Statutory Auditors on the financial statement of the Company for the financial year 2023-24 forms part of the Annual Report. The Notes on the financial statements referred to in the Auditors Report are self-explanatory and do not call for any further comments. The Auditors Report on the financial statements of the Company for the financial year ended 31^st March, 2024, is unmodified i.e. it does not contain any qualification, reservation or adverse remark.

COST AUDITORS

Pursuant to Section 148 of the Companies Act, 2013, read with the Companies (Cost Records and Audit) Amendment Rules, 2014, the Directors on the recommendation of the Audit Committee, appointed M/s Devarajan Swaminathan and Co., Cost Accountants (FRN 100669), to audit the cost accounts of the Company for the financial year 2024-25 on a remuneration of Rs. 6.50 lacs.

As required under the Companies Act, 2013, the remuneration payable to the Cost Auditor is required to be placed before the members in a general meeting for their ratification. Accordingly, a resolution seeking members ratification for the remuneration payable to M/s Devarajan Swaminathan and Co., Cost Accountants (FRN 100669), is included at Item No. 8 of the Notice convening the AGM.

The Company has maintained cost records in accordance with the provisions of the Companies Act, 2013, read with the Companies (Cost Records and Audit) Amendment Rules, 2014, in respect of healthcare services.

SECRETARIAL AUDITORS

The Board had appointed M/s RSM & Co., a firm of Company Secretaries in Practice, to conduct Secretarial Audit for the financial year ended 31^st March, 2024. The Secretarial Audit Report for the financial year ended 31^st March, 2024, is annexed herewith marked as Annexure - 2, to this Report.

During the period under review, the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards etc. and the same is covered under the Secretarial Audit Report, save and except that the Govt. of NCT of Delhi - one of the promoters of the Company, have not dematerialized their shareholding in the Company. Requests have been made by the Company to the Govt. of NCT of Delhi to get their shareholding dematerialized.

REPORTING OF FRAUDS BY AUDITORS

During the year under review, neither the statutory auditors nor the secretarial auditor has reported to the Audit Committee, under Section 143 (12) of the Companies Act, 2013, any instances of fraud committed against the Company by its officers or employees.

OTHER DISCLOSURES

a. During the year, the Company had complied with the applicable, Secretarial Standards relating to "Meetings of the Board of Directors" and "General Meetings" during the year. b. There are no proceedings initiated/pending against your Company under the Insolvency and Bankruptcy Code, 2016, which materially impact the business of the Company.

c. TherewerenoinstanceswhereyourCompanyrequired the valuation for one time settlement or while taking loans from the Banks or Financial Institutions.

PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Information as required to be disclosed on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act, 2013, read with Rule 8 of the Companies (Accounts) Rules, 2014, is annexed herewith marked as Annexure - 3 to this Report

ANNUAL RETURN

In accordance with the provisions of Section 92(3) read with section 134(3)(a) of the Companies Act, 2013, and Rules framed thereunder, an annual return in the prescribed format for the financial year 2023-24 is available on the website of the Company at https://www.apollohospitals. com/delhi/investor-relations/annual-report/

ACKNOWLEDGEMENT

Your Directors wish to place on record their appreciation of the contribution made by the consultant doctors and the employees at all levels, towards the continued growth and prosperity of your Company.

Your Directors also wish to place on record their appreciation of business constituents, bankers and other financial institutions, the Government of NCT of Delhi and shareholders of the Company for their continued support.

For and on behalf of the Board

Dr. Prathap C. Reddy

Vice Chairman

(DIN 00003654)

Place: Chennai

Date : 5th August, 2024