Panasonic Appliances India Company Ltd Directors Report

Dear Members,

Your directors have pleasure in presenting the Thirty Eighth Annual Report together with the Companys Audited Financial Statements for the financial year ended March 31,2026.

FINANCIAL HIGHLIGHTS

The Companys financial performance for the year under review along with the previous years figures is given here under.

(Rs. Crores)

Particulars	Financial Year Ended March 2026	Financial Year Ended March 2025
Sale of products	322.90	320.98
Other operating revenue (scrap sales)	4.72	5.54
Revenue from operations	327.62	326.52
Other income	4.13	5.17
Total income	331.75	331.89
Expenses
Operating expenditure	321.12	334.66
Depreciation and amortization	7.39	7.63
Total expenses	328.51	342.29
Profit (Loss) before Finance costs and tax	3.23	(10.60)
Finance costs	0.03	0.48
Profit/(Loss) before tax (PBT)	3.23	(11.08)
Tax expenses	1.83	2.95
Profit after tax for the year	1.40	(8.13)

REVIEW OF PERFORMANCE

During the year under review, your Companys gross revenue stood at Rs 327.62 Crores in FY 2025-26 contrast to Rs 326.52 crores in FY 2024-25. The PBT of the Company (Profit Before Tax) was Rs. 3.23 Crores in FY 2025-26 compared to Rs. (11.08) Crores in FY 2024-25. The Company stated a PAT (Profit After Tax) of Rs 1.40 Crores in FY 2025-26 compared to Rs (8.13) Crores in FY 2024-25. A summary of operating results is covered in the Boards Report for ready reckoning

Despite challenging geopolitical conditions, volatile market environments, and subdued consumer sentiment during FY 2025-26, your Company successfully achieved a turnaround to profitability. This performance reflects the Companys operational efficiency, prudent cost management, and focused strategic initiatives.

As part of its growth strategy, PAPIN strengthened its product portfolio through the successful launch of the following products:

• Developed the EC Series Rice Cooker with Competitive price & reduced manufacturing cost for the Global Market and Launched 1.8L Cooker in Apr26 & 1.0L Cooker in May26.

• Developed the C Series SUS SB (Sandwich bottom) Cooker with Competitive price & reduced manufacturing cost in Domestic Market and Launched 1.8L SB Cooker in Feb26 & 1.0L SB Cooker in May26

During the year, the Cooker business witnessed a decline in sales due to intense competition and aggressive pricing by competitors. Sales in the USA market were caused by uncertainties relating to import policies and trade regulations. The Mixie business also recorded lower sales, primarily due to reduced demand from some segment and weaker market conditions in the African region.

To drive future growth, the Company has initiated several sales enhancement measures, including the introduction of new products and categories such as OTG (Oven Toaster Grill, Air Fryers, and Pressure Cookers) expansion of ODM (Original Design Manufacturer) products, and development of derivative products to meet evolving customer requirements.

PAPIN continues to demonstrate its commitment to environmental sustainability and climate change mitigation through various decarbonization initiatives effectively. During FY 2025-26 PAPIN has offset 4893Metric ton of Carbon emission through wind power and Carbon Exchange Certificate, resulting in cost saving of approximately Rs. 2.06 million.

Despite the years challenging business environment, the Company achieved strong performance, driving revenue growth and returning to profitability. Management remains confident that our long-term strategic initiatives will continue to strengthen our competitive position, deliver operational excellence, and support sustainable, profitable growth

DIVIDEND.

The Company earned profit for the financial year ended 31 March 2026. However, to strengthen its financial position and absorb accumulated losses carried forward from previous years, the Board of Directors has not recommended any dividend for the financial year ended 31 March 2026.

SHARE CAPITAL

During the year, there was no change in the share capital of the company, as on March 31,2026. The Authorized share capital of the Company is Rs 25,00,00,000 (Rupees Twenty-Five crore) divided into 2,50,00,000 (Two crore and Fifty lakh) equity shares of Rs.10/- (Rupees Ten) each.

As on March 31, 2026, the Paid-up share capital of the Company is Rs 19,74,67,050.00 (Rupees Nineteen crore seventy-four lakhs sixty-seven thousand and fifty) divided into 1,97,46,705 (One crore ninety-seven lakhs forty-six thousand seven hundred and five) equity shares of Rs.10.00(Rupees Ten) each.

TRANSFERS TO RESERVES

During the financial year, the Company did not transfer any amount to the General Reserve. The total amount of General reserve as on March 31, 2026, was Rs 3,54,194.00 being the same as reported in the previous year.

SUBSIDIARIES, ASSOCIATES AND JOIN VENTURE COMPANIES.

The Company does not have any subsidiary or joint venture or associate company.

CHANGES IN DIRECTORS AND KEY MANAGERIAL PERSONNEL DURING THE FINANCIAL YEAR 2025-26.

1. Mr. Kartikeswar Sahoo was appointed as Company Secretary with effect from April 28, 2025 and resigned on June 11,2025.

2. Ms. P.K.Jeyasree was appointed as Company Secretary with effect from November 11,2025 BOARD MEETINGS

The Board functions as a full Board and meets at regular intervals to decide on the Company / business policy and strategy apart from other Board businesses. The meetings of the Board of Directors are normally held at Chennai. Meetings are scheduled well in advance and after serving adequate notice. The Board meets at least once in a quarter to review the quarterly performance and the financial results. The Agenda for the Board / Committee Meetings along with explanatory notes is set by the Company Secretary in consultation with the Managing Director of the Company and circulated to the Directors well in advance to facilitate them to plan their schedule and to ensure meaningful participation in the meetings. The Agenda for the Board and Committee meetings includes detailed notes on the items to be discussed at the meeting to enable the Directors to take an informed decision. The Members of the Board are also free to recommend inclusion of any matter in the agenda for discussion.

Four Board Meetings were held during the financial year 2025-26, and the gap between two meetings was within the period prescribed under the Companies Act, 2013. The dates on which the said meetings were held on 28-Apr-25, 10-Jun-25, 05-Aug-25, and 12-Nov-25.

The Last Annual General Meeting of the Company was held on September 26, 2025.

Table 1: Composition, Attendance at Board meetings and last Annual General Meeting (AGM) and details of memberships of Directors in other Boards and Board Committees

Name of the Director	Designation and Category	Number of Meetings		Attendance at the last AGM
		Held	Attended
Mr T Ganesan	Managing Director; Executive	4	4	Yes
*Mr.Yusuke Nii	Executive Director.	4	2	Yes
Mrs. Rajashree Santhanam	Director; Non-Executive; Independent	4	4	Yes
*Mr Hiroshi Kawaguchi	Director; Non-executive.	4	1	No
Mr CK Sabareeshan	Director; Non-Executive; Independent	4	4	Yes

* Mr. Hiroshi Kawaguchi (DIN:11131928) appointed as Director (Non-Executive) with effect from June 10 2025., approved at Board Meeting dated June 10,2025.

*Mr. Yusuke Nii (DIN: 11045120) appointed as Executive Director (Whole time) with effect from August 05,2025, approved at Board Meeting dated August 05 2025

COMMITTEE OF THE BOARD

The Board Committees play a crucial role in the governance structure of the Company and have been constituted to deal with specific areas / activities which concern the Company and need a closer review. The Board Committees are set up under the formal approval of the Board to carry out clearly defined roles which are considered to be performed by the members of the Board, as a part of good governance practice. The Board supervises the execution of its responsibilities by the Committees and is responsible for their action. The minutes of the meetings of all the Committees are placed before the Board for review. The Board has currently established the following statutory and non-statutory Committees.

AUDIT COMMITTEE

The Audit Committee of the Board is constituted in accordance with the applicable provisions of the Companies Act, 2013.

TERMS OF REFERENCE

1) Overseeing the Companys financial reporting process and disclosure of its financial information.

2) Recommending the appointment and removal of external auditors, fixation of audit fee and also approval for payment of any other services.

3) Discussion with the external auditors before the audit commences, of the nature and scope of audit as well as post-audit discussion to ascertain any area of concern.

4) Reviewing, with the management, the annual financial statements before submission to the Board for approval, with particular reference to:

Matters required to be included in the Directors Responsibility Statement to be included in the Directors report

Changes, if any, in accounting policies and practices and reasons for the same

Major accounting entries involving estimates based on the exercise of judgment by management

Significant adjustments made in the financial statements arising out of audit findings

Disclosure of any related party transactions

Qualifications in the draft audit report

5) Reviewing with the management the quarterly and half-yearly financial statements before submission to the Board for approval.

6) Reviewing with the management, the performance of statutory and internal auditors, and adequacy of the internal control systems.

7) Reviewing the adequacy of internal audit function, if any, including the structure of the internal audit department, staffing and seniority of the official heading the department, reporting structure, coverage and frequency of internal audit.

8) Discussion with internal auditors of any significant findings and follow up there on.

9) Reviewing the findings of any internal investigations by the internal auditors into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the Board.

10) Discussion with statutory auditors before the audit commences, about the nature and scope of audit as well as post-audit discussion to ascertain any area of concern.

11) To look into the reasons for substantial defaults in the payment to the depositors, debenture holders, shareholders (in case of nonpayment of declared dividends) and creditors.

12) Reviewing the functioning of the whistle blower mechanism.

13) Review of management discussion and analysis of financial condition and results of operations, statements of significant related party transactions submitted by management, management letters/letters of internal control weaknesses issued by the statutory auditors, internal audit reports relating to internal control weaknesses, and the appointment, removal and terms of remuneration of the Internal auditors.

14) Carrying out any other function as mentioned in the terms of reference of the Audit Committee.

COMPOSITION

The Companys Audit Committee for the financial year 2025-26 is comprised of two Independent Directors and one Executive Director. The Chairperson of the Committee is an Independent Director. All the members of the Audit Committee are financially literate, with knowledge of accounts and having financial management expertise.

The Audit Committee invites such number of executives as it considers appropriate, particularly senior officers from the finance and accounts department, representatives of the statutory auditors and representatives of the internal auditors to be present at its meetings. The Company Secretary acts as the Secretary to the Audit Committee.

MEETINGS AND ATTENDANCE

During the financial year 2025-26, three Audit Committee Meetings were held on 28-Apr-25, 05-Aug-25, and 12-Nov-25. The necessary quorum was present for all the meetings.

Table 2: The details of the Composition of the Committee, Names of Members and Chairperson and attendance at its Meetings are as follows:

Name of the Director	Category	Number of Meetings
		Held	Attended
Mrs. Rajashree Santhanam	Member; Non-Executive; Independent	3	3
Mr T. Ganesan	Member; Executive; Non-Independent	3	3
Mr C.K .Sabareeshan	Member; Non-Executive; Independent	3	3

NOMINATION AND REMUNERATION COMMITTEE

The Company has constituted a Nomination and Remuneration Committee in accordance with the requirements specified under Section 178 of the Companies Act, 2013.

TERMS OF REFERENCE

The Broad terms of reference of the Remuneration Committee are as under

1) To identify persons who qualify to become directors and who may be appointed in senior management in accordance with the criteria laid down

2) To recommend to the Board their appointment and removal

3) To evaluate the performance of every Director

4) To formulate the criteria for determining the qualifications, positive attributes and independence of the directors

5) Recommend to the Board a policy relating to the remuneration for the Directors, Key Management Personnel and other employees.

COMPOSITION

The Companys Nomination and Remuneration Committee for the financial year 2025-26 is comprised of two Independent Directors and one Non-Executive Director. The Chairperson of the Committee is an Independent Director.

MEETINGS AND ATTENDANCE

During the financial year 2025-26, Two Nomination and Remuneration Committee Meetings were held on 05- Aug-25, and 10 -Oct- 25. The necessary quorum was present for all the meetings.

Table 3: The details of the Composition of the Committee, Names of Members and Chairperson and attendance at its Meetings are as follows:

Name of the Director	Category	Number of Meetings
		Held	Attended
Mrs. Rajashree Santhanam	Member; Non-Executive; Independent	2	2
*Mr Hiroshi Kawaguchi	Member; Non- Executive	2	0
Mr C.K .Sabareeshan	Member; Non-Executive; Independent	2	2

* Mr. Hiroshi Kawaguchi (DIN:11131928) appointed as Director (Non-Executive) with effect from June 10 2025., approved at Board Meeting dated June 10,2025.

CORPORATE SOCIAL RESPONSIBILITY (CSR) COMMITTEE

The Company has constituted a Corporate Social Responsibility Committee in accordance with the requirements specified under Section 135 of the Companies Act, 2013.

TERMS OF REFERENCE

The broad terms of reference of the Corporate Social Responsibility Committee are as under.

1) To formulate and recommend to the Board, a CSR policy which shall indicate the activities to be undertaken by the Company as per the Companies Act, 2013

2) To review and recommend the amount of expenditure to be incurred on the activities to be undertaken by the company.

3) To monitor the CSR policy of the Company from time to time

4) Any other matter the CSR Committee may deem appropriate after approval of the Board of Directors or as may be directed by the Board of Directors from time to time.

COMPOSITION

The Companys Corporate Social Responsibility Committee for the financial year 2025-26 is comprised of two Independent Director viz. Mrs. Rajashree Santhanam & Mr. CK Sabareeshan and one Executive Director Mr.T.Ganesan. The Chairperson of the Committee is an Independent Director.

MEETINGS AND ATTENDANCE

During the financial year 2025-26 no CSR Committee meeting was held.

STAKEHOLDERS RELATIONSHIP COMMITTEE

The Company has constituted a Stakeholders Relationship Committee in accordance with the requirements specified under Section 178 of the Companies Act, 2013.

TERMS OF REFERENCE

The broad terms of reference of the Stakeholders Relationship Committee are as under

1) To oversee and review all matters connected with the transfer of the Companys securities (physical and demat), non-receipt of annual reports, non-receipt of declared dividend, etc.,

2) To approve issue of the Companys duplicate share certificates

3) To monitor redressal of investors/shareholders/security holders grievance and reviewing any other related matter which the Committee may deem fit in the circumstances of the case including the following:

• change of name(s) of the members on share certificates

• consolidate share certificates

• delete name(s) from the share certificates

• dematerialize and rematerialize shares

• issue of duplicate share certificates

• replacement of shares

• split-up of shares

• transfer and transmission of shares

• transpose of shares

4) To oversee the performance of the companys registrars and transfer agents

5) To recommend methods to upgrade the standard of services to investors

6) To monitor implementation of the companys code of conduct for prohibition of insider trading

7) Any other matter as the Stakeholders Relationship Committee may deem appropriate after approval of the Board of Directors or as may be directed by the Board of Directors from time to time

COMPOSITION

The Companys Stakeholders Relationship Committee for the financial year 2025-26 is comprised of Two Independent Directors and One Executive Director. The Chairperson of the Committee is an Independent Director.

MEETINGS AND ATTENDANCE

During the financial year 2025-26, the two Stakeholders Relationship Committee Meeting was held on 05, August 2025, 12, November 2025, the necessary quorum was present for all the meetings.

Table 5: The details of the Composition of the Committee, Names of Members and Chairperson and attendance at its Meetings are as follows:

Name of the Director	Category	Number of Meetings
		Held	Attended
Mrs. Rajashree Santhanam	Member; Non-Executive; Independent	2	2
Mr T. Ganesan	Member; Executive; Non-Independent	2	2
Mr C.K .Sabareeshan	Member; Non-Executive; Independent	2	2

BOARD EVALUATION

The Nomination and Remuneration Committee evaluated the performance of the Board, that of its committees and individual directors including Independent Directors. No Director participated in his own evaluation.

The Independent Directors reviewed the performance of the Non-Independent Directors,. The Board of Directors were evaluated on various criteria including attendance, participation in board meetings, their involvement by way of providing advice, guidance, suggestions on the business front and the willingness and commitment to devote their extensive time necessary to fulfill their duties. The Independent Directors were also evaluated based on their performance, professional conduct, roles and duties as specified in Schedule IV to the Companies Act, 2013.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to clause (c) of sub-section (3) of Section 134 of The Companies Act, 2013 as amended from time to time, the board of 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; and

(e) 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.

DECLARATION BY INDEPENDENT DIRECTORS

Pursuant to Section 149(7) of the Companies Act, 2013, all the Independent Directors have given declaration that they meet the criteria of independence as set out in Section 149(6).

POLICY ON DIRECTORS/KMPs APPOINTMENT AND REMUNERATION

Policy on appointment and removal of Directors, KMPs and Senior Management and their Remuneration attached herewith as “ANNEXURE 1”, shall act as a guideline for determining qualifications, positive attributes, independence of a Director and matter relating to the appointment and removal of Directors.

The remuneration policy of the Company was formulated considering the following factors:

(a) the level and composition of remuneration is reasonable and sufficient to attract, retain and motivate directors of the quality required to run the company successfully.

(b) relationship of remuneration to performance is clear and meets appropriate performance benchmarks; and

(c) remuneration to directors, key managerial personnel and senior management involves a balance between fixed and incentive pay reflecting short and long-term performance objectives appropriate to the working of the company and its goals.

AUDITORS

1) STATUTORY AUDITORS

M/s. Brahmayya & Co., Chartered Accountants (Firm Registration No. 000511S), Chennai, were appointed as the Statutory Auditors of the Company at the 37th Annual General Meeting held on September 26, 2025, for a period of five years, to hold office from the conclusion of the said AGM up to the conclusion of the 42nd Annual General Meeting of the Company.

2) INTERNAL AUDITORS

Pursuant to the provisions of Section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts) Rules, 2014 and other applicable provisions of the Act, the Company had appointed M/s. Venkatesh & Co. (Firm Registration No.: 004636S) Chartered Accountants, Chennai as Internal auditors of the Company for the financial year 2025-26.

3) SECRETARIAL AUDITORS

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had appointed, Alagar & Associates (Firm Registration No.: L2025TN019200), a firm of Company Secretaries in Practice, Chennai to undertake the secretarial audit of the Company for the financial year 2025-26. The Secretarial Audit Report does not contain any reservation or adverse remark for the year under review.

The Report on the Secretarial Audit is annexed herewith as “ANNEXURE 2”.

AUDIT REPORT

The Statutory Auditors Report on Financial Statements and the secretarial audit report for the financial year ended March 31,2026, has no qualifications, disclaimer or adverse remarks.

INTERNAL FINANCIAL CONTROLS

The Company is in compliance with the requirements of the Companies Act, 2013 with regard to the Internal Financial Controls which embraces adherence to Companys policies, safeguarding of assets, prevention and detection of frauds and errors, accuracy and completeness of accounting records and timely preparation of financial information.

During the year, the Company has, in all material respects, adequate internal financial controls with reference to financial statements and such internal financial controls were operating effectively as at 31 March 2026, based on the internal financial controls with reference to financial statements 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 (the “Guidance Note”).

RISK MANAGEMENT

The Board of Directors of the Company has implemented the risk management policy and delegated the power to the Audit Committee to monitor the risk management plan for the Company and to report to the Board of Directors. The Committee is responsible for reviewing the risk management plan and ensuring its effectiveness. The Board of Directors is of the opinion that there were no major risks that may threaten the existence of the Company.

COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND ANNUAL GENERAL MEETING

The Company has complied with Secretarial Standards issued by the Institute of Company Secretaries of India on Board meeting and General Meetings.

DEPOSITS/LOANS & ADVANCES, GUARANTEES OR INVESTMENTS

Your Company has not accepted any deposits during the year under review. There were no loans/advances, guarantees and investments given under Section 186 of The Companies Act, 2013 during the year under review.

CHANGE IN THE NATURE OF BUSINESS

There is no change in the nature of the business of the Company.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANYS OPERATIONS IN FUTURE.

No significant and material orders were passed by the regulators or courts or tribunals impacting on the going concern status and companys operations in future.

DETAILS IN RESPECT OF FRAUD REPORTED BY AUDITORS UNDER SECTION 143(12)

Pursuant to Section 143(12) of the Companies Act, 2013, the Company has not received any report from the auditors in respect of fraud committed by its officers or employees.

MATERIAL CHANGES AND COMMITMENTS

There are no material changes and commitments in the business operations of the Company for the financial year ended March 31,2026, to the date of signing of the Boards Report.

CORPORATE SOCIAL RESPONSIBILITY

As the average net profit of the Company was negative, the provisions of Section 135 of the Companies Act, 2013 relating to Corporate Social Responsibility (CSR) were not applicable to the Company during the year. Nevertheless, the CSR Policy adopted by the Board of Directors is provided in Annexure 3 to this Report and is in accordance with the Companies (Corporate Social Responsibility Policy) Rules, 2014.

ANNUAL RETURN

Pursuant to the provisions of Section 92(3) read with Section 134(3) (a) of the Act, the Annual Return of the Company is placed in Company website at: http://www.panasonicappliances.in/Home/investor.

COMPLIANCE WITH SECRETARIAL STANDARDS (“SS-1 and SS-2”)

The Company complies with all applicable secretarial standards issued by the Institute of Company Secretaries of India (ICSI) i.e., SS-1 and SS-2 relating to ‘Meetings of the Board of Directors and ‘General Meetings respectively.

RELATED PARTY TRANSACTIONS (RPT)

All transactions entered with related parties as defined under Section 2(76) of the Companies Act, 2013 during the financial year were in the ordinary course of business and on an arms length and do not attract the provisions of Section 188 of the Companies Act, 2013. There are no materially significant related party transactions made by the Company with promoter, directors, key managerial personnel or other designated person which may have a potential conflict with the interest of the Company at large.

Pursuant to Section 134(3)(h) read with Rule 8(2) of The Companies (Accounts) Rules, 2014, there are no transactions to be reported under Section 188(1) of The Companies Act, 2013, in Form AOC-2. Suitable disclosures as required by Accounting Standard 18 have been made in the notes forming part of the Financial Statements.

PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE [“POSH”]:

The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 became effective from December 9, 2013, and is applicable to the Company. In line with the requirement of this Act, the Company has duly constituted an Internal Complaints Committee and also framed an Anti-Sexual Harassment policy for prevention of sexual harassment at workplace.

(a) Number of complaints of sexual harassment received in the year - 0

(b) Number of complaints disposed off during the year- N/A

(c) Number of cases pending for more than ninety days - N/A

Our Company has always believed in providing a safe and harassment free workplace for every individual working in the Company premises. Company always endeavors to create and provide an environment that is free from any discrimination and harassment.

VIGIL MECHANISM/WHISTLE BLOWER POLICY

The Company has established a vigil mechanism through “PAPIN Whistle Blower Policy” to enable employees and directors to report genuine concerns dealing with instances of fraud and mismanagement, if any. The mechanism provides for adequate safeguard against victimization of the whistle blower and also provides for direct access to the Chairperson of the audit committee in appropriate or exceptional cases or Chief Financial Officer or Company Secretary of the Company as the case may be to report any concern or unethical activities.

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

The particulars as prescribed under Section 134(3)(m) of The Companies Act, 2013 read with Rule 8 of The Companies (Accounts) Rules, 2014 are provided in “ANNEXURE 4” which forms part of this report.

THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONG WITH THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR.

No such application was made during the financial year under review.

DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF

No such transaction occurred during the financial year under review.

A STATEMENT BY THE COMPANY WITH RESPECT TO THE COMPLIANCE TO THE PROVISIONS RELATING TO THE MATERNITY BENEFIT ACT, 1961.

The Company has complied with the provisions relating to the maternity Benefit Act,1961 including all applicable amendments and rules framed thereunder.

INDUSTRIAL RELATIONS AND NUMBER OF EMPLOYEES

The relations with the workmen and employees of the Company have continued to remain cordial.

CODE OF CONDUCT

The Company has already put in place a Code of Conduct which is applicable to all the Members of the Board and all employees in the course of day-to-day business operations of the company. The Company believes in “Zero Tolerance” against bribery, corruption and unethical dealings/ behaviors in any form and the Board has laid down the directives to counter such acts.

MAINTENANCE OF COST RECORDS

The Company is not mandated to maintain cost records as specified by the Central Government under sub- section (1) of Section 148 of the Companies Act, 2013 and accordingly no such accounts and records are made and maintained.

ACKNOWLEDGEMENTS

Your directors wish to express their deep sense of appreciation for the committed services of all the employees of the Company. They also place on record their appreciation for the support and co-operation your Company has been receiving from its Bankers, Customers, Distributors, Dealers, Suppliers and other Business Partners and also the valuable assistance received from the collaborator Panasonic Corporation, Japan. Your directors take this opportunity to thank all the stakeholders, banks, regulatory and Government authorities for their continued support.

As we continue to grow and expand, we look forward to sharing our success in the years ahead with all our stakeholders.

	For and on behalf of the Board of Directors of
	Panasonic Appliances India Company Limited
	C	IN: U30007TN1988PLC016184
	T. Ganesan	Rajashree Santhanam
	Managing Director	Director
Chennai, August 03, 2026	DIN: 08377223	DIN: 07162071