NILE Ltd Directors Report

To

The Members,

Your directors take pleasure in presenting the 40^th Annual Report on the operations of your Company and the Audited Accounts for the financial year ended 31 ^st March, 2024, together with the Auditors Report thereon.

Financial Results:

Your Companys results for the year, and the comparative figures for the previous year, are given below in a summarized format:

(Rs. in Lakhs)

	Standalone		Consolidated
Particulars	2023-24	2022-23	2023-24	2022-23
Net Sales	83762.26	80633.22	83762.38	80632.23
Other Income	26.12	16.67	19.39	14.59
Total Revenue	83788.38	80649.89	83781.77	80646.82
Profit before interest and depreciation	4648.34	3605.59	4629.55	2480.86
Less: Interest	114.60	282.03	118.93	282.11
Depreciation	285.44	275.40	292.94	276.10
Profit before exceptional & extraordinary	4248.30	3048.16	4217.68	3039.07
items and tax
Profit before Tax	4248.30	3048.16	4217.68	3039.07
Profit Tax after	3159.96	2265.76	3115.51	2256.62
Add/less: Other Comprehensive Income	-2.09	7.06	-2.09	7.06
Total Comprehensive Income	3157.87	2272.82	3113.42	2263.68
Add: Opening balance in Statement of Profit & Loss	17896.91	15684.13	17860.80	15657.15
Amount available for appropriation	21054.78	17956.95	20974.22	17920.83
Appropriations:
Transfer to General Reserve
Dividend on equity shares	90.06	60.04	90.06	60.04
Dividend Distribution Tax on Interim Dividend
Surplus/(Deficit) carried to Balance Sheet	20964.72	17896.91	20884.16	17860.79

Note: Previous years figures are regrouped and presented wherever necessary.

Dividend:

Your directors declared and paid dividends for the financial year as per the following details:

Dividend	Date of declaration	Amount per share	Paid in
Interim	6th November,	Rs 3/-	December
Dividend	2023	(30%)	2023

Your directors wish to inform you that no further dividends will be paid for the 2023-24 financial year.

Transfer to Reserves:

No amount is proposed to be transferred to reserves of the Company.

Operations:

Operations of the Companys three divisions for the year under review were as follows:

Lead Division:

This year, the Lead division recorded sales of Rs. 83,069 lakhs as against Rs. 80,600 lakhs in the previous year, an increase of 3.06%

Windmills:

The entire wind energy generated at Ramagiri was sold to Andhra Pradesh Southern Power Distribution Company Ltd. The total revenue was Rs.37 lakhs against Rs.33 lakhs in the previous year.

Trading:

This year, the Trading division recorded sales of Rs.656 lakhs.

Total:

The combined turnover of the Company, thus, was Rs. 83,762 lakhs for the year under review, as against Rs. 80,633 lakhs for the previous year.

Capital Structure:

There is no change in the capital structure during the year.

Particulars of loans, Guarantees, security, and Investments:

The Company gave a loan of Rs. 1.65 crores @ 7.11% rate of interest to Nile Li-Cycle Private Limited, a wholly owned subsidiary of the Company for project works. Corporate Guarantee was given to Axis Bank against the project loan taken by Nile Li-Cycle Private Limited. No security is given by the Company to which provisions of sections 185 and 186 of the Companies Act, 2013 are applicable. The Company has complied with the provisions of sections 185 and 186 of the Companies Act 2013 with respect to investments in wholly owned subsidiaries as disclosed in notes to accounts.

SUBSIDIARY COMPANIES: Nile Li-Cycle Private Limited:

Your Company subscribed to 95,00,000 Equity shares @ 10 each and 1,84,000 Equity shares @ 300 each (Rs.10 each face value and Rs.290 as a Premium).

Nile Li-Cycle Private Limited received all statutory approvals for Phase 1 of its Lithium-ion battery recycling plant located at Industrial Park, Maheshwaram, Ranga Reddy (Dist), Telangana (State).

Phase 1 operations, which involve the production of mixed metal oxide from Lithium-ion batteries, commenced on 16th March, 2024. Successful installation and commissioning of the machine, along with full trial runs, has been completed (after facing delays due to the unavailability of technicians from the supplier for commissioning of the plant).

The company has started the process of reaching out to Original Equipment Manufacturers (OEMs), vendors, traders, wholesalers of battery scrap and others for sourcing of raw materials. Sales are expected to pick up in the coming months and will steadily accelerate as the company builds up relationships with new vendors and suppliers. Pilot scale operations of the second phase are expected to commence by March 2025, and thus higher realizations are expected in the next financial year."

Nirmalya Extracts Private Limited:

Your Company subscribed to 3,35,000 Equity shares @ 10 each.

Your company has decided to put on hold the planned foray into the plant extract and phytochemical space through its wholly owned subsidiary: Nirmalya Extracts Private Limited. This is because of increased competition in the space, lack of period for the project.

A separate statement containing the salient features of the financial statements of the subsidiary companies in Form

AOC-1 as per the provisions of Section 129 of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014 as amended and is attached in Annexure A.

Corporate Governance:

Your Company has complied with all provisions of Corporate Governance, as required under the SEBI (LODR) Regulations, 2015. A report on Corporate Governance, along with the certificate on its compliance from the Auditors, forms part this report.

Integrated Management System (IMS): i) The certification transferred to a new Certificationbody ‘URS Certifications

Limited. from 22 ii) Management Programs for further improving the productivity and environmental aspects at both the plants have been successfully implemented during the year.