Paras Defence and Space Technologies Ltd Management Discussions

Economic Environment Global Economic Review¹

The global economy remained resilient in CY 2025, achieving a growth rate of 3.5% even as geopolitical dynamics and trade landscapes continued to evolve. While the macroeconomic environment underwent policy adjustments, overall growth momentum was sustained by steady global trade activity and a strong surge in technology-led exports, helping to offset the moderating performance in specific sectors. Developments in the Middle East led to a temporary shift toward more cautious market sentiment. This phase saw an upward movement in crude oil prices, which introduced renewed inflationary considerations and prompted corporations worldwide to realign their margin expectations. Geopolitical tensions introduce measurable economic realignments with government resource allocation tilting heavily toward enhanced defence outlays. While private consumption and broader capital investments enter a period of moderation, public sector defence spending remains fundamentally sustained to ensure national security readiness.

Emerging Markets and Developing Economies (EMDEs) served as a vital pillar of global economic expansion, recording an impressive growth rate of 4.5% in CY 2025. This steady expansion was propelled by robust domestic demand, strengthening industrial production, and stable export performance. Concurrently, advanced economies entered a phase of stabilisation, delivering a measured and steady growth rate of 1.9% for the year.

Global headline inflation remained well-contained at 4.1% in CY 2025, with advanced economies stabilising at 2.5% and Emerging Markets and Developing Economies (EMDEs) balancing at 5.2%. While supply chain realignments and trade transitions introduced periodic variations, aggregate global trade volumes remained fundamentally secure as sourcing networks successfully adjusted to evolving geopolitical realities.

Outlook

The global economy points toward a phase of stable yet measured progression. Global GDP growth is projected to steady at 3.0% in CY 2026 and 3.4% in CY 2027, reflecting a gradual moderation in economic activity as financial conditions and geopolitical landscapes continue to mature. Emerging Markets and Developing Economies (EMDEs) are well-positioned to maintain stronger momentum, with growth anticipated to reach 3.8% in CY 2026 and 4.5% in CY 2027. This steady performance is firmly anchored by robust domestic consumption, expanding infrastructure investments, and supportive policy frameworks. Meanwhile, advanced economies are expected to transition through a more subdued growth trajectory, projected at 1.7% in CY 2026 and 1.8% in CY 2027.

While global inflation may experience near-term visibility due to supply-side variations, underlying price trends are forecast to gradually stabilize over the medium term. The forward trajectory will naturally remain interconnected with evolving trade conditions, commodity movements, and balanced fiscal strategies, highlighting the ongoing importance of strategic resilience in global supply chains.

Real GDP Growth Projection

Indian Economic Overview²

Indias economy continued resilient growth in FY 2026, supported by healthy domestic demand, stable macroeconomic fundamentals and sustained public investment. Real GDP growth for the year stood at 7.7%, reinforcing Indias position among the fastest- growing major economies globally³. Growth during the year was driven by continued momentum in consumption and investment activity. Indias public administration and defence segment growth remained stable. On the spending front, the Union Budget FY 202627 has planned an 11.5% increase in capital expenditure with total effective spending, including funds passed to state governments. This signals a strong government commitment to building infrastructure and strategic assets, which bodes well for defence investment over the medium term. The macro environment points toward sustained government spending in strategic sectors, though shocks from elevated energy prices and supply chain disruptions stemming from the West Asia conflict.

Inflationary trends entered a more stable phase during the year, moderating to 3.7% as domestic fuel prices remained steady despite evolving global energy conditions. While international energy segments moved higher, these shifts did not materially affect the domestic pricing landscape. Concurrently, core inflation excluding precious metals maintained a balanced and comfortable trajectory, indicating that underlying price pressures are well-positioned to remain contained going forward. Indias external financing saw a notable boost, driven by strong growth in gross foreign direct investment (FDI) and improved net FDI figures. The country continues to hold high appeal for new, greenfield investment projects.

Outlook

The Indian economy is projected to grow by 6.7% in FY 2026-27, driven by domestic consumption, investment, structural reforms, and public infrastructure spending⁴. CPI inflation is estimated at 4.6%, driven by the West Asia unrest-related energy price increase and potential below-normal monsoons. The Union Budget FY 2026-27 outlines a six-point investment strategy focusing on manufacturing, traditional industries, Micro, Small and Medium Enterprises (MSMEs), infrastructure, energy security, and urban economic zones. These investments are backed by an increase in central capital expenditure and a 22.1% rise in effective capital expenditure. A Rs.2 lakh crore allocation for state-level infrastructure is also outlined in the Union Budget.

Externally, Indias gross inward FDI grew by 18.1% to $88.3 billion in FY 2025-26, led by the technology, financial services, and manufacturing sectors. This external activity is accompanied by ongoing trade negotiations with the UK, EU, and US, as well as an alignment between rising global defence spending and Indias focus on domestic defence manufacturing.

Indias strong macroeconomic fundamentals, expanding infrastructure base, digital transformation, policy reforms and improving manufacturing competitiveness are expected to reinforce medium-term growth momentum and economic resilience amid an evolving global environment. At the same time, fluctuations in energy prices, trade flows and global financial conditions continue to shape the broader macroeconomic environment.

Indian GDP Growth Rate

Global Defence Industry⁵

Global defence spending reached $2.63 trillion in 2025, up from $2.48 trillion in the previous year, which reflects a 2.5% increase in real terms. As a share of global GDP, military expenditure rose from an average of 1.89% to 2.01%. This highlights the structural and sustained nature of the upward trend instead of a temporary response to isolated events.

Growth across regions was uneven. The United States remained the worlds largest defence spender at $921.0 billion, though lower American expenditure during the year moderated the overall global growth rate. Elsewhere, several regions recorded continued or accelerating increases. These were driven by a combination of active conflict, heightened threat perceptions, and long-term force modernisation programmes. Europe accounted for a notably larger share of global spending than in prior years, with the regions contribution to the global stage rising. The Middle East also saw significant expenditure growth, with some states in the region directing exceptionally high proportions of national output toward defence. CY 2025 numbers confirm that global defence spending has reached its highest recorded level, with the outlook pointing toward continued elevated expenditure across most regions in the near term.

Country-wise Defence Spending

Indian Defence Industry

Indias defence infrastructure and modernisation are receiving a massive, highly strategic push in the Union Budget FY 2026-27, backed by a total defence allocation of Rs.7.85 lakh crore. A key driver is the robust capital head allocation of over Rs.2.19 lakh crore, with Rs.1.85

lakh crore strictly earmarked for advanced capital acquisitions like next-generation fighter aircraft, warships, submarines, and drones.

The country is shifting decisively toward self-reliance (Aatmanirbhar Bharat), reserving roughly 75% of this capital acquisition budget amounting to Rs.1.39 lakh crore exclusively for procurement from domestic defence industries. Alongside technological upgrades, physical and strategic border infrastructure is getting an aggressive boost; the capital allocation for the Border Roads Organisation (BRO) has been hiked to Rs.7,394 crore to fast-track critical, high- altitude tunnels, bridges, and strategic airfields. Additionally, Rs.975 crore is dedicated to expanding an Optical Fibre Cable network to ensure secure, modern communication systems for the Armed Forces. Supplemented by a boosted Rs.29,100 crore R&D allocation for the Defence Research and Development Organisation (DRDO) to nurture domestic deep tech and startup collaborations, Indias defence outlook points toward a rapidly modernizing, deeply secure, and highly indigenized military infrastructure designed for long-term strategic resilience.⁷

Indian defence exports reached an all-time high of Rs.38,424 crore in FY 2025-26, rising from Rs.23,622 crore in the previous FY. This reflects a massive 62.66% growth rate, or an increase of Rs.14,802 crore, and represents roughly a threefold expansion over the last five years. The sharp rise highlights the increasing global acceptance of domestic defence products and the sectors growing integration into international supply chains.

Growth across manufacturing segments was robust but uneven. Defence Public Sector Undertakings led the expansion with a surging 151% increase, contributing Rs.21,071 crore to the export total compared to Rs.8,389 crore in the prior year. Private sector firms also demonstrated a solid international presence, growing their export value by 14% to reach Rs.17,353 crore, up from Rs.15,233 crore previously. This brings the relative export contributions to 54.84% for public entities and 45.16% for private industry.

India, through its robust defence industry and exports, is expanding its global footprint and broadening its industrial base. Beyond operating as a supplier of systems and sub-systems, the nation now exports defence equipment to more than 85 countries. This reach is supported by an expanding network of suppliers, as the total number of defence exporters grew 13.3% during the year, rising to 145 from 128 in the previous period.⁸

Domestic defence manufacturing has achieved a major milestone in its trajectory toward becoming a global export hub. Policy focus on ease of doing business, streamlined regulatory approvals via a revamped online portal, and simplified standard operating procedures for authorisations continue to foster a globally competitive, performance-driven industrial environment.

Indias Defence Export

Government Initiatives

Innovation for Defence Excellence (iDEX)

The scheme bridges the gap between cutting-edge R&D and formal procurement. Through competitive frameworks like the Defence India Start-up Challenge, eligible entities can secure financial grants ranging from Rs.1.50 crore up to Rs.10 crore for high-tier projects. Supported by a network of partner incubators providing mentorship and academic outreach, the initiative drives self-sufficiency by institutionalizing a culture of co-creation and streamlined technology adoption.

Defence Testing Infrastructure Scheme

The Defence Testing Infrastructure Scheme (DTIS) was launched by the Ministry of Defence to bolster domestic defence and aerospace manufacturing. With an outlay of Rs.400 crore, the scheme aims to bridge critical gaps in the nations testing capabilities, reducing reliance on foreign certification facilities and supporting the Aatmanirbhar Bharat initiative. The scheme facilitates the creation of six to eight greenfield testing facilities across India, with a particular focus on supporting MSMEs, startups, and private industry. Under the funding model, the government provides up to 75% of the project cost as Grant-in-Aid, while the remaining 25% is contributed by a Special Purpose Vehicle (SPV) consisting of private entities and state governments.

Research, Development and Innovation Scheme (RDI)⁹

Approved by the Union Cabinet and formally launched in November 2025, the RDI Scheme carries a corpus of Rs.1 lakh crore over six years, with Rs.20,000 crore allocated in the Union Budget for FY 2025-26. It provides long-term, low or nil-interest financing to spur private sector investment in high-risk and high-impact research and innovation, including deep-tech startups.

FDI Liberalisation in Defence

The FDI policy for defence was liberalised to permit 74% foreign direct investment under the automatic route and up to 100% through the government route, alongside simplification of industrial licensing with a longer validity period. The liberalised FDI framework is designed to attract global original equipment manufacturers and defence technology firms to establish manufacturing presence in India, facilitating technology transfer and co-production arrangements.

In FY 2025-26, Rs.1,11,544.83 crore, which is three-fourths of the total modernisation budget, has been allocated for procurement through domestic sources. This budgetary commitment functions as a structural demand guarantee for Indian defence manufacturers, ensuring a sustained pipeline of government orders that supports capacity building, long-term investment planning, and export competitiveness across the domestic industry.¹⁰

Strategic Partnership Model

The Strategic Partnership model introduced by the Ministry of Defence is designed to build large-scale indigenous manufacturing capability in complex defence platforms, including fighter aircraft, helicopters, submarines, and armoured fighting vehicles. Under this model, selected Indian private companies are positioned as system integrators and are required to develop a tiered ecosystem of domestic suppliers, including micro, small, and medium enterprises, defence public sector undertakings, and research institutions.

Global Space Sector¹¹

The global space economy stood at $626 billion in CY 2025 and is on track to cross $ 1.8 trillion by CY 2036. The year 2025 marks a turning point for the sector, as it transitions from a period of rapid expansion toward a more structured and mature market. Defence and national sovereignty have emerged as the dominant market forces in CY 2025, a trend expected to persist well through the coming years. Capital flows remained concentrated in established, later-stage companies, as investors continued to exercise caution toward higher-risk, early-stage ventures.

Market Size

Growth Drivers

Reduction in Launch Costs

A primary driver of the space economy is the significant reduction in the cost of reaching orbit, largely due to the success of reusable launch vehicles. Lower launch costs have reduced the barriers to entry for startups and smaller nations, leading to a rise in space- based innovation. This has enabled more frequent launches and the deployment of larger, more complex satellite constellations, creating a cycle of increasing demand and further cost reductions.

Transition Toward In-Space Servicing, Assembly, and Manufacturing

As the number of active satellites grows, the market is shifting toward in-space servicing, assembly, and manufacturing. This includes life- extension missions for ageing satellites, orbital refuelling, and the assembly of large structures that are too big to be launched in a single rocket. Companies are exploring the manufacturing of high- quality fibre optics, protein crystals, and human tissues in space, where the absence of gravity allows for superior material properties.

Growing Government Investment in Sovereign Space Capabilities

The global geopolitical landscape is a major factor, with nations viewing space as critical infrastructure for national security and economic independence. This has led to increased investments in sovereign space capabilities, where countries develop their own launch sites and satellite constellations to ensure independent access to space. North America dominates the global space economy, driven by significant NASA and Department of Defence funding, while Asia-Pacific is expected to witness the fastest growth, supported by ambitious national space programmes in China and India.

Indian Space Sector

Indias space economy has grown to an estimated $8.4 billion, with 399 start-ups now operating across launch vehicles, satellites, propulsion systems, and space-grade electronics. The expansion followed key policy decisions taken to open the space sector to private participation, with the establishment of the Indian National Space Promotion and Authorisation Centre serving as a singlewindow interface between private industry and government agencies, including the Indian Space Research Organisation (ISRO). This structural shift has unlocked a new phase of growth, drawing in commercial capital, domestic manufacturers, and technology-driven enterprises across the space value chain. The sector is expected to grow four to five times over the next eight to ten years, potentially reaching $40 to $45 billion. With institutional mechanisms in place, private investment is gaining momentum and a rapidly maturing start-up ecosystem. India is positioning itself as a significant and selfreliant contributor to the global space economy in the years ahead.¹²

Government Initiatives¹³

Indian National Space Promotion and Authorisation Centre (INSPACe)

The Government of India liberalised the Indian space sector and constituted the Indian National Space Promotion and Authorisation Centre, an autonomous, single-window, independent nodal agency under the Department of Space, to facilitate and promote the participation of private players and Non-Government Entities across the entire spectrum of space activities. By providing a clear regulatory and policy framework, IN-SPACe has removed procedural barriers that previously restricted private sector entry, creating a more open and predictable environment for commercial space operations and investment.

Transfer of Technology to Private Industry

The Government has undertaken the promotion and enabling of Transfer of Technology to Non-Government Entities, including the Transfer of Technology of the Small Satellite Launch Vehicle to industry. This initiative allows privately held companies to access, adopt, and commercialise technologies that were previously developed exclusively within government institutions such as ISRO.

Antariksh Venture Capital Fund

The Government has introduced financial support schemes for space start-ups and micro, small, and medium enterprises, and has set up a space sector-focused Rs.1,000 crore Antariksh Venture Capital Fund. Access to early-stage and growth capital has historically been a constraint for deep-technology ventures in India. The Antariksh Fund directly addresses this gap by channelling dedicated capital toward space enterprises, while investor awareness campaigns further broaden the base of potential funders. Together, these measures are building the financial infrastructure needed to sustain a high-growth, innovation-driven space economy.

Upcoming Projects

Gaganyaan Programme

The Gaganyaan Programme aims to demonstrate Indias indigenous capability to undertake human spaceflight to Low Earth Orbit in the short term, while laying the foundation for a sustained human space exploration programme over the long run. As part of this programme, two unmanned missions and one crewed mission have been approved by the Government of India, with the unmanned missions serving to verify the performance, safety, and reliability of critical systems before a crewed flight is attempted. Following the successful completion of the Gaganyaan programme, ISROs next step will focus on achieving the capability for a sustained human presence in space. Activities associated with an Indian space station will serve as an extension of the Gaganyaan programme, with the station envisaged as a platform for conducting scientific and industrial research across fundamental, applied, and engineering sciences.

Company Overview

Paras Defence and Space Technologies Limited is a premier Indian defence and space engineering company, listed on the BSE and the National Stock Exchange. Headquartered in Navi Mumbai, with manufacturing and integration facilities at Nerul and Ambernath and sales and design offices across Bengaluru, Hyderabad, and New Delhi, the Company operates a fully integrated delivery model spanning design and research and development, precision manufacturing, system integration, and test and validation. With a team of professionals, including senior scientists and engineers, Paras has built one of the most specialised technical workforces in Indias private defence and Space sector.

The Companys business is organised across two core verticals:

Optics and Optronics Systems

The Optics and Optronic Systems vertical encompasses IR Optics & Space Optics, high-resolution cameras for space and defence missions, hyperspectral imaging systems, submarine periscopes, airborne optical payloads, electro-optical and infrared systems, and free space optical communication systems.

Defence Engineering

The defence engineering vertical covers defence electronics, electromagnetic protection solutions, border defence systems, heavy engineering, inertial navigation systems, anti-drone technologies, and avionic suites for military aircraft platforms. Together, these verticals address a wide range of requirements across the Indian Army, Navy, Air Force, DRDO and major defence public sector undertakings, as well as international clients in Israel, Europe, South Korea, and other markets.

The Company also operates through a network of subsidiaries that extend its capabilities into adjacent high-growth domains. Paras AntiDrone focuses on Anti-drone systems, RFMW Developments - radar systems, software-defined radios, and counter-unmanned aerial vehicle technologies. Paras Aerospace develops drones for military, industrial, and agricultural applications. Paras Heven Drones manufactures hydrogen-powered drones in collaboration with an Israeli partner. Paras Avionics addresses air-to-air technologies, while Quantico focuses on quantum communication and sensing. Paras Semiconductors is establishing an outsourced semiconductor assembly and testing facility for advanced packaging. This diversified subsidiary structure positions the Company to participate across multiple future technology domains while maintaining its core strengths in optical and defence engineering systems.

Financial Performance

Particulars	FY 2025-26	FY 2024-25	YoY Growth %
Revenue from operations	41,654	33,385	24.77
Other Income	1,814	1,186	52.95
Total Expenses	32,404	25,891	25.16
Costs of materials consumed	18,564	12,505	48.45
Purchase of stock in trade	1,174	2,159	-45.62
Change in inventory of finished goods, work-in-progress and stock in trade	487	483	0.83
Employee benefits expense	4,348	3,338	30.26
Finance costs	245	552	-55.62
Depreciation and Amortisation expense	1,528	1,354	12.85
Other expenses	6,058	5,500	10.15
Profit before tax	11,064	8,680	27.47
Tax expenses	2,746	2,174	26.31
Profit for the year	8,318	6,506	27.85
Total Comprehensive Income	8,329	6,467	28.79

Revenue from Operations

Revenue from operations increased by 24.77% to ?41,654 Lakhs in FY 2025-26 from ?33,385 Lakhs in FY 2024-25.

Other Income

Other income increased by 52.95% to ?1,814 Lakhs in FY 2025-26 from ?1,186 Lakhs in FY 2024-25.

Total Expenses

Total expenses increased by 25.16% to ?32,404 Lakhs in FY 2025-26 from ?25,891 Lakhs in FY 2024-25.

Cost of materials consumed

Cost of materials consumed increased by 48.45% to ?18,564 Lakhs in FY 2025-26 from ?12,505 Lakhs in FY 2024-25.

Purchases stock in trade

Purchases of stock in trade decreased by 45.62% to ?1,174 Lakhs in FY 2025-26 from ?2,159 Lakhs in FY 2024-25.

Change in inventories of finished goods, work-in-progress and stock in trade

Change in inventories of finished goods, work-in-progress and stock-in-trade stood at ?487 Lakhs in FY 2025-26, compared with ?483 Lakhs in FY 2024-25, representing a year-on-year increase of ?4 Lakhs (0.83%).

Employee benefits expense

Employee benefits expense increased by 30.26% to ?4,348 Lakhs in FY 2025-26 from ?3,338 Lakhs in FY 2024-25.

Finance costs

Finance costs decreased by 55.62% year-on-year to ?245 Lakhs in FY 2025-26, compared with ?552 Lakhs in FY 2024-25.

Depreciation and Amortisation Expense

Depreciation and amortisation expense increased by 12.85% to ?1,528 Lakhs in FY 2025-26 from ?1,354 Lakhs in FY 2024-25.

Other expenses

Other expenses increased by 10.15% to ?6,058 Lakhs in FY 2025-26 from ?5,500 Lakhs in FY 2024-25.

Profit before Tax

Profit before tax increased by 27.47% to ?11,064 Lakhs in FY 2025-26 from ? 8,680 Lakhs in FY 2024-25.

Tax Expenses

Tax expenses increased by 26.31% to ?2,746 Lakhs in FY 2025-26 from ?2,174 Lakhs in FY 2024-25.

Profit for the Year

Profit for the year increased by 27.85% to ?8,318 Lakhs in FY 2025-26 from ?6,506 Lakhs in FY 2024-25.

Total Comprehensive Income

Total comprehensive income increased by 28.79% to ?8,329 Lakhs in FY 2025-26 from ?6,467 Lakhs in FY 2024-25.

Cash flows

Net cash generated from operating activities increased to ?3,078 Lakhs in FY 2025-26 from ?2,856 Lakhs in FY 2024-25, primarily driven by improved operating performance.

Net cash used in investing activities decreased to ?2,732 Lakhs in FY 2025-26 from ?7,814 Lakhs in FY 2024-25, mainly due to lower investment outflows compared with the previous year.

Net cash used in financing activities amounted to ?1,794 Lakhs in FY 2025-26, compared with net cash generated of ?7,802 Lakhs in FY 2024-25, as the previous year included proceeds from the Qualified Institutional Placement (QIP), while the current year primarily reflected dividend payments, lease liability repayments and finance costs.

Consequently, cash and cash equivalents stood at ?1,559 Lakhs as at March 31, 2026, compared with ?2,991 Lakhs as at March 31, 2025.

Research and Development

Research and development is central to Paras Defence and Space Technologies Limiteds long-term growth strategy, and the Company has consistently invested in building exclusive capabilities across its core technology domains. Paras operates a fully integrated design and research and development function that spans optronic system design, optical design, electronic hardware design, embedded system design, software development, electromagnetic design, radio frequency and microwave design, and antenna design. Wide range of in-house capability allows the Company to address complex defence and space requirements from concept through to production without dependence on external design agencies, reinforcing its position as a genuine Indigenously Designed, Developed, and Manufactured entity. Currently the company is engaged into development of cutting edge technologies such as Laser based anti-drone systems, Drone Cameras, Hyper Spectral Imaging Systems, etc.

Beyond these current programmes, the Company is actively investing in future technologies through its subsidiary Quantico, which is building capabilities in quantum communication and quantum sensing, areas where Parass existing strength in optical and electronic system design provides a natural foundation. The Companys participation in key iDEX challenges, covering a synthetic aperture radar design programme for the Indian Air Force, smart anti-jamming systems for the Indian Army, and a mobile ground station for satellite applications, further demonstrates the depth and direction of its research and development pipeline.

Risk Management

Governed by a Board-approved charter, the Companys integrated risk management system deploys a structured approach to identify, assess, and mitigate potential exposures. This comprehensive framework utilizes advanced methodologies and specialized tools to embed risk monitoring and reporting into daily operations, ensuring all critical threats are systematically managed. To maintain rigorous oversight, the Board and the Audit Committee receive periodic briefings on emerging risk profiles and corresponding mitigation strategies, enabling the Company to proactively address internal and external challenges with sound strategic judgment. briefings on emerging risk profiles and corresponding mitigation strategies, enabling the Company to proactively address internal and external challenges with sound strategic judgment.

Human Resources

The Company maintains a robust framework of human resource policies designed to foster an equal, transparent, and secure workplace culture that aligns individual aspirations with organizational goals. Grounded in employee-friendly management practices, the Company invests deeply in talent acquisition, continuous skill development, and performance-driven compensation to drive long-term retention and positive employee relations. Exceptional contributions are systematically recognized and rewarded through an annual performance management system. Demonstrating this commitment to shared growth, the Company granted 3,13,300 stock options to employees in FY 25-26, directly incentivizing the workforce, motivating high performance, and offering a tangible opportunity for long-term wealth creation.

600+

Professionals

(including senior scientists and engineers)

Internal Control Systems

The Company has a strong system of internal controls commensurate with the nature, size and complexity of its business. Detailed policies, guidelines and procedures have been put in place for every business process. The internal control system is designed to provide reasonable assurance for the reliability of financial and other records for effective financial reporting and asset accountability. It also provides for strict compliance with all applicable statutory and regulatory compliance. There is a robust monitoring mechanism in place to monitor progress on customer agreement terms, pinpointing issues and taking appropriate corrective and preventive measures to achieve assured service levels. A team monitors costs relating to different projects from time to time, giving feedback for course correction if required. The audit committee reviews internal financial controls and systems of risk management with the help of internal auditors. Any deviations from normal practices are reported to the Board and timely remedial actions are taken.

Information Technology

The Company comprehends the significance of technology in business expansion and achievement of its goals to expand customer experience, improve security and ensure convenience of operations. The Company recognises the crucial significance of data security. It is equipped with a robust IT infrastructure and enterprise resource planning systems implemented at its manufacturing units. The IT infrastructure includes third-party solutions and applications managed internally. The Company employs strong IT disaster management systems such as data backup and retrieval mechanisms to ensure adequate data protection.

Cautionary Statement

This document includes statements about anticipated future events, financial performance and operational results, which are forward looking. Forward-looking statements inherently involve making assumptions and are subject to risks and uncertainties. There is a considerable risk that these assumptions, predictions and other forward-looking statements may not turn out to be accurate. Readers should be cautious not to rely excessively on these forward looking statements, as various factors could cause actual results and events to differ significantly from those projected.