Shakti Pumps (India) Ltd Directors Report

Dear Members,

The Board of Directors of your Company take pleasure to present the 29^th Annual Report of the Shakti Pumps (India) Limited ("The Company"), on the business and operations of the Company along with Audited Standalone & Consolidated Financial Statements and Auditors Report thereon for the financial year ended March 31, 2024.

1. FINANCIAL HIGHLIGHTS

A brief summary of the Companys standalone and consolidated performance is given below:- ( In Lacs)

	2023-2024	2022-2023	2023-2024	2022-2023
Particulars
	Standalone		Consolidated
Sales & Other Income	130322.56	93026.57	137430.15	97093.62
Profit before Finance Cost, Depreciation & Tax	19395.77	6470.97	22839.49	6981.33
Finance Cost	1769.08	1744.71	1947.89	1916.39
Depreciation & Amortization Expenses	1757.67	1716.09	1903.03	1840.21
Profit/(Loss) before Tax	15869.02	3010.18	18988.57	3224.73
Less:-Current Tax	4798.52	674.10	5467.49	847.72
Less:-Deferred Tax	(644.21)	(62.48)	(649.82)	(36.17)
Profit/(Loss) after Tax	11714.71	2398.55	14170.90	2413.18

2. FINANCIAL PERFORMANCE

(i) Consolidated Financial Performance

During the year, your Company has registered sales and other income 1,37,430.15 Lacs as compared to 97,093.62 Lacs of previous year. Company was able to register a domestic sale of Lacs and export sale of 28,624.09 Lacs in the current year. Your Company has profit for the year of 14,170.90 Lacs in comparison to 2,413.18

Lacs in previous year. (ii) Standalone Financial Performance

During the year , your Company has registered sales and other income 1,30,322.56 Lacs as compared to 93,026.57 Lacs of previous year. The company was able to register a domestic Lacs and Export sales 24,697.75 Lacs for FY

2023-24. Your Company has profit for the year of 11,714.71 Lacs in comparison to 2,398.55 Lacs in previous year.

(iii) Fund raise through QIP

The Company raised 200 crores by an issue of equity shares through a Qualified

Placement (QIP) in March, 2024. The proceeds from the QIP have been earmarked for the capacity expansion of our Company with respect to the new facility in Pithampur, Madhya Pradesh for manufacture of Pumps and Motors, Inverter,

Variable Frequency Drives & Structures and other general corporate purposes.

The QIP proceeds have bolstered an already strong capital structure even further, significantly enhanced the Companys financial flexibility and accelerated the Companys ambitious 1,05,651.05

3. SHARE CAPITAL

As at 31^st March, 2024, the Authorized share capital of the Company is 40,00,00,000/-. There is no change in the authorized share capital of the company and As at 31^st March, 2024, the paid up Equity Share Capital of the Company was 20,03,51,000/- consisting of 2,00,35,100 equity shares of 10/- each. sales 1,01,904.97 During the year, in accordance with SEBI (Issue of

Capital and Disclosure Requirements) Regulations,

2018 and other applicable guidelines of SEBI and

Members approval, the Company has issued and allotted 16,54,944 equity shares of face value of 10/- each by way of Qualified Institutional Placement to Qualified Institutional Buyers at an issue price of 1208.5 per Equity Share (including a premium of 1198.5/- per

Equity Share) on March 22, 2024. Institutions

4. DIVIDEND

The Board of Directors of the Company had approved

2024 in a Dividend Distribution accordance with the Securities and Exchange Board of India (Listing Obligations policy of the Company Regulations, Regulations). The Policy is website:https://www.shaktipumps.com/policies-programmes.php Based on the Companys performance, the Board of directors has recommended a dividend of 40% i.e.

4/- per equity share of 10/- each for the financialyear ended March 31, 2024. If approved, at the forthcoming

Annual General Meeting to all those equity shareholders of the Company whose names appear in the Register of Members and whose names appear as beneficial owners as per the beneficiary list furnished for the purpose by National Securities

Depository Limited and Central Depository Services (India) Limited. The total dividend pay-out will amount to approx. 8.01 Crore. The dividend recommendationis in and Disclosure Requirements) . linewiththedividend 2015 and amendments thereof (‘SEBI LODR available on the Companys 5. TRANSFER OF RESERVE

During the year under review, the company has not transferred any amount to General Reserve. For complete details on movement in Reserves and Surplus during the financial year ended March 31, 2024, please refer to the ‘Statement of Changes in Equity included in the standalone and consolidated financialstatements of ("AGM") Dividend will be paid this Annual Report.

6. KEY FINANCIAL RATIOS
Particulars	2023-24	2022-23	2021-22
Return on Net Worth (%)	18.75%	5.77%	16.49%
Return on Capital Employed (%)	25.13%	9.84%	19.86%
Basic EPS (after exceptional items)	76.91	13.13	35.26
Debtors turnover	2.95	3.01	3.63
Inventory turnover	4.20	3.80	5.52
Interest coverage ratio	10.75	3.06	6.25
Current ratio	1.82	1.94	1.59
Debt equity ratio	0.11	0.18	0.27
Operating profit margin (%)	17.01%	7.03%	9.91%
Net profit margin (%)	10.31%	2.49%	5.47%

DETAILED EXPLANATION OF RATIOS

(i) Return on Net Worth (%)

Return on Net worth (RONW) is a measure of of a Company expressed in percentage. It is calculated by dividing total comprehensive income for the year by average capital employed during the year.

(ii) Return on Capital Employed (%)

Return on Capital Employed (ROCE) is a financial ratio that measures a Companys profitability and the efficiency with which its capital is used. In the ratio measures how well a Company is generating profits from its capital. It is calculated by dividing profit before exceptional items and tax by average capital employed during the year.

(iii) Basic EPS

Earnings per Share (EPS) is the portion of a Companys profit allocated to each share. It serves as an indicator of a Companys profitability. It is Profit for the year by Weighted average number of shares outstanding during the year.

(iv) Debtors Turnover

The above ratio is used to quantify a Companys effectivenesscollectingits receivables or money owed by customers. The ratio shows how well a Company uses words, and manages the credit it extends to customers and how quickly that short-term debt is collected or is paid. It is calculated by dividing turnover by average trade receivables.

(v) Inventory Turnover

Inventory Turnover is the number of times a Company sells and replaces its inventory during a period. It is calculated by dividing turnover by average inventory.

(vi) Interest Coverage Ratio

The Interest Coverage Ratio measures how many times a Company can cover its current interest payment with its available earnings. It is calculated by dividing PBIT by finance cost.

(vii) Current Ratio

The Current Ratio is a liquidity ratio that measures a Companys ability to pay short-term obligationsor those due within one year. It is calculated by dividing the current assets by current liabilities.

(viii) Debt Equity Ratio

The ratiois used to evaluate a Companys financial leverage. It is a measure of the degree to which a

Company is financing versus wholly owned funds. It is calculated by dividing a

Companys total liabilities by its shareholders equity.

(ix) Operating Profit Margin (%)

Operating ratio used to calculate the percentage of profit Company produces from its operations. It is calculated by dividing the EBIT by turnover.

(x) Net Profit

The net profit margin is equal to how much net income /www.shaktipumps.com/ or profit is generated as a percentage of revenue. It is calculated by dividing the profit for the year by turnover.

7. DEPOSITS

The Company has not accepted any deposit within the meaning of Sections 73 and 74 of the Companies Act,

2013 read together with the Companies e Directors (Acceptance of

. Deposits) Rules, 2014 duringthefinancial e Independent Directors

8. SUBSIDIARIES JOINT VENTURES AND

ASSOCIATES COMPANIES

a. As on March 31, 2024, our Company has following Subsidiaries:-

1. ShaktiPumps USA, LLC

2. ShaktiPumps FZE, UAE

3. Shakti

4. Shakti EnergySolutions

5. Shakti EV Mobility Private Limited (formerly known as Shakti Green Industries Private

Limited)

There has been no material change in the nature of the business of the Company and its Subsidiary. b. During the year under review, following changes have taken place in subsidiaries:

During the year the Company has close its one of foreign subsidiary Shakti Pumps (Shanghai) Limited incorporated at China.

c. Material Subsidiaries

As on March 31, 2024, the Company has one Material Subsidiary i.e. ShaktiEnergy Solutions Private Limited. The Company has formulated a policy for determining Material Subsidiaries. The policy is available on the Companys website and om/ c link for the same is https://www.shaktipumps. policies_programmes/policy_for_determining_ material_subsidiary.php . Pursuant to Section 134 of the Act read with rules made thereunder, the details of developments at the level of subsidiaries and joint ventures of the Company are covered in the Management Discussion and Analysis Report, which forms part of this Annual Report.

As per Section 129(3) of the Companies Act, 2013 (Act), a statement containing salient features of financial statements of Subsidiaries in Form AOC-1 is annexed as

Annexure - I and forms part of Boards Report.

The Consolidated Financial Statement of the Company with its SubsidiariesProfit profitabilityorperformance Marginis have also been included as part of this Annual Report. In accordance with Section 136 of the Act, the audited financial statements, including consolidated financial statements and related information each of its subsidiaries, are available on website of the Company .

9. DIRECTORS AND KEY MANAGERIAL PERSONNEL

a. Directors:

As on March 31, 2024, the Company has six

Directorscomprisingofthree and three Non-including one Women Independent Director.

Detailed composition about the Board is disclosed in Corporate Governance Report. All Directors have submitted relevant declarations / disclosures as required under Act and Listing b. Change in Directorate Change in designation

Designation of Mr. Dinesh Patidar (DIN:

00549552) was changed from Chairman cum Managing Director to Chairman cum Whole time Director for the period of 3 years w.e.f August 11, 2023. Change in his designation was approved by the shareholders in the 28^th

Annual General Meeting held on September

28, 2023.

Designation of Mr. Ramesh Patidar (DIN: 00931437) was changed from Whole time

Director to Managing Director for the period of 3 years w.e.f August 11, 2023. Change in his designation was approved by the shareholders in the 28^th Annual General Meeting held on

September 28, 2023.

Re-appointment

• The Board of Directors, on the recommendations of Nomination Committee, in itsRemuneration meeting held on January 18, 2024 approved and recommended to the Members for their approval, the re-appointment of Mr. Keyur Bipinchandra Thaker (DIN: 08474827) as an Independent Director of the theCompany,for tion Qualifica secondtermoffive(5) years commencing w.e.f. 10^th June, 2024. The Company received the approval of the members of the Company on February 20, 2024 by way of Postal Ballot, for the same.

Cessation

203 of

• Mr. Navin Sunderlal Patwa (DIN: 01009404) has completed his second term as a Non- eExecutiv Independent Director of the company on the closing of business hours of July 30, 2024, accordingly ceased to be

Chairman

Independent director of the Company. The Board of Directors place on record his deep appreciationfor the wisdom, knowledgeand Managing guidance provided by Mr. Navin Sunderlal Patwa during his tenure.

Appointment

The Board, at its meeting held on July 20, 2024, based on the recommendation of Remuneration Committee Nomination of the Company, has approved the following appointment(s) subject to approval of the Shareholders at the ensuing AGM:-a) The appointment of Mr. Ashwin Bhootda

(DIN: 10236282) as an Additional Whole time Director of the Company for a term of 5 (Five) Consecutive years with effect from July 20, 2024. b) The appointment of Mr. that they Hirabhai Somabhai Patel (DIN: 00541411) as an Additional Director - Independent

Director of the Company for a term of 5

(Five) Consecutive years with effect

July 20, 2024. c) The appointment of Mr. Bhim Singh (DIN:

08189580) as an Additional Director -

Independent Director of the Company for a term of 5 (Five) Consecutive years with e of the Directors please refer effect from July 20, 2024.

d) The appointment of Mr. V.S.S. Pavan Kumar Hari (DIN: 10665196) as an

Additional Director - Independent

Director of the Company for a term of 5

(Five) consecutive years with effect from

July 20, 2024. and Rotation: c. DirectorliabletoRetireby Mr. DineshPatidar (DIN: 00549552), Whole-Time Director of the Company, retires by rotation at the ensuing Annual General Meeting pursuant to the provisions of Section 152 of the Companies Act,

2013 read with the Companies (Appointment and

Articles of Association of the Company and being eligible, has offered himself for re-appointment as the Director. d. Key Managerial Personnel: the In terms of Section 2(51) and Section

Companies Act, 2013 read with the Companies

(Appointment and Remuneration of Managerial

Personnel) Rules, 2014, the key managerial personnel of the Company are: and Wholea) Mr. Dinesh Patidar:-

Time Director (DIN: 00549552)

Director (DIN:b) Mr. Ramesh Patidar:-

00931437) c) Mr. Sunil Patidar:- Whole Time Director (DIN:

-02561763) d) Mr. Ashwin Bhootda:- Whole time Director

(DIN: 10236282) w.e.f. July 20, 2024. e) Mr. Dinesh Patel:-Chief Financial Officer f) Mr. Ravi Patidar:-Company Secretary & Compliance Officer

10. DECLARATIONS GIVEN BY INDEPENDENT DIRECTORS

All the Independent Directors of the Company have given of the Companies theirdeclaration under section meet with the criteria Act,2013,confirming of independenceaslaiddowninsection149(6) of the Act and Regulation 25 of SEBI (ListingObligationsand Disclosure Requirements) Regulations 2015 as amended, for being an Independent Director of the Company.

11. NUMBER OF MEETINGS OF THE BOARD

Eight (8) meetings of the Board of during the year. For details of the meetings held and to the the

Corporate Governance Report which forms part of this annual report.

12. POLICY ON DIRECTORS APPOINTMENT

AND REMUNERATION AND OTHER DETAILS

The Companys policy is designed to attract, motivate and retain manpower in a competitive and international market. The policy reflects the Companys objectives for good corporate governance as well as sustained long-term value creation for shareholders. The Remuneration

Policy applies to the Companys senior management, including its Key Managerial Personnel and Board of

Directors. The Nominationand Remuneration the members of Board and Executive Management is available on the Companys website:- www.shaktipumps. com.

13. ANNUAL EVALUATION OF BOARDS

PERFORMANCE

The annual evaluation process of the Board of Directors, individual Directors and Committees was conducted in accordance with the provisions of the ActandtheListing of Managerial Regulations.In accordance with the provisions of Schedule IV of the Companies Act 2013, a Separate Meeting of the

Independent Directors was held on January 25, 2024, without the attendance of Non-Independent Directors and Members of the Management. The Committee has reviewed the performance and effectiveness of the non independent directors and Board in this meeting as a whole for the Financial Year 2023-2024.

14. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134 of Directors confirms that: -a) In the preparation of the Annual Accounts, the applicable Accounting Standards have been followed and there are no material departures from the same; b) The Directors have 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 and of the profits of the Company for that period; c) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other

d) The Directors have prepared the Annual Accounts on a ‘going concern basis; e) The Directors have laid down internal financial controls for the Company and such internal financial controls are adequate and are operating effectively; and f) The Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

15. DISCLOSURE RELATING TO

REMUNERATION OF DIRECTORS,

KEY MANAGERIAL PERSONNEL AND PARTICULARS OF EMPLOYEES

In terms of the provisions of Section

Policy for the Companies Act, 2013 read with Rules 5 (1) of the Companies (Appointment and Remunerationof

Managerial Personnel) Rules, 2014 and the rules there under as amended from time to time, forms part of this report which is annexed as Annexure II.

There are no instances of employees who was in receipt of remuneration in excess of the limit prescribed in provisions of Section

2013 read with Rule 5(2) and 5(3) of the Companies

(Appointment and Remuneration

Personnel) Rules, 2014 and the rules made there under.

16. BOARD FAMILIARISATION AND TRAINING

PROGRAMME

The Board is regularly updated on changes in statutory provisions, as applicable to the Company. The Board is also updated on the operations, key trends and risk universe applicable to the Companys business.

Additionally, the Directors also participate in various programmes / meetings where subject matter experts the Act, apprise the Directors on key global trends the Board of

17. ANNUAL RETURN

The Annual Return in form MGT-7 for the financial ended March 31, 2024 as prescribed under Section 92(3) read with Section of Companies (Management and Administration) Rules,

2014, as amended, is disclosed on the website of the Company. The web link for the same is available on the Companys website at https://www.shaktipumps.com/ annual-return.php

18. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis, as required in terms of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,2015 (Listing this Report.

19. CORPORATE GOVERNANCE

Your Company always places a major emphasis on managing its affairs responsibility and accountability. The Company continues to focus on building trust with shareholders, employees, customers, suppliers and other stakeholders based on the principles of good corporate governance viz. integrity, equity, transparency, fairness, sound disclosure practices, accountability and commitment to values.

A separate section on Corporate Governance, which is a te from the certifica partoftheBoardsReport,andthe Companys Secretarial Auditors confirming compliance with Corporate Governance norms as stipulated in the SEBI (ListingObligations and Disclosure Requirements) are included in the Regulations,

Annual Report. The Company has taken adequate steps for strict compliance with Corporate Governance guidelines as amended from time to time.

20. BUSINESS RESPONSIBILITY AND

SUSTAINABILITY REPORT:

The Company is committed to pursuing its business objectives ethically, transparently and with accountability to all its stakeholders. It believes in demonstrating responsible behaviour while adding value to the135 andsociety and the community, as well as ensuring environmental well-being from a long-term perspective.

A Business Responsibility and Sustainability Report as per Regulation 34(2) of the SEBI Listing Regulations, detailing the various initiatives taken by the Company on the environmental, social and governance front is annexed as Annexure – III and forms an integral part of this Annual Report. The Report which forms a part of the Annual Report, can along with all the related policies, be /www. https:/ also viewed on the Companys Website: shaktipumps.com/

21. MATERIAL CHANGES AND COMMITMENTS tion action AFFECTING FINANCIAL POSITIONS OF THE COMPANY

No material changes or commitments affecting the financial position of the Company have occurred between the end of the financial year to which the Companys financial statements relate and the date of the report.

22. LISTING INFORMATION

The Companys Shares are listed as follows:-

Name of Stock Exchanges	Stock Code/Symbol
1. BSE Limited (BSE)	531431
P.J. Towers, Dalal Street,
Mumbai-400001
tock Exchange S 2. National	SHAKTIPUMP Regulations. have
of India Limited (NSE)
"Exchange Plaza", Bandra
Kurla Complex, Bandra (E),
Mumbai - 400 051

The Company has made all the compliances of the andSecurities Exchange Board of India (Listing Obligations and

2015.

23. LISTING FEES

The Company confirms that it has paid the annual listing fees for the financial year 2024-25 to the both National

Stock Exchange of India Limited and BSE Limited.

24. CORPORATE SOCIAL RESPONSIBILTY

Pursuant to the provisions of Section135 of the

Companies Act, 2013, the Company has framed its Corporate Social Responsibility (CSR) policy for the development of programs and projects for the benefit of weaker sections of the Society and the same has been approved by CSR Committee and the Board of of the Company.

CSR policy has been uploaded on the Companys website at www.shaktipumps.com . rules Pursuant to requirements under section made there under a Report on CSR initiatives taken during the year in prescribed format is annexed as Annexure IV which is annexed hereto and forms part of Boards Report.

25. RISK MANAGEMENT FRAMEWORK

The Company has a consistent, structured and defined assessing, deciding on continuousprocessfor identifying, responsestoandreporting critical‘ on risks that matter. The Risk Management framework of the Company essentially comprises of two elements i.e. the process to identify, prioritise and manage risks adopting the value-baseddrivertreeapproachandrisk plan. The Risk Management framework applies to all business units, functions, geographies and departments within the Company. The Company recognises that the emerging and identified risks need to be managed and mitigated to-

• protect its shareholders and other stakeholders interest,

achieve its business objective and

• enable sustainable growth.

It compliments and does not replace other existing programs, such as those relatingto emission, quality and compliance matters. and quorum of meetings of the Risk Management Committee constitutedby the Board is in compliance with Regulation Roles, responsibilities and 21oftheListing been defined functionsof by the Committee Board. Terms of referenceoftheCommittee,details of meetings held and attendance thereat are the Corporate Governance Report, which forms part of this Report.

26. INTERNAL FINANCIAL CONTROL

The Company has a robust Internal Financial Control framework which is according to Section of the Companies Act, 2013. The Companys internal control systems are commensurate with the nature of its business, the size and complexity of its operations and such IFCs with reference to the Financial Statements are adequate. The Company has implemented robust processes to ensure that all IFCs are

27. PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES

GIVEN AND SECURITIES PROVIDED.

The Details of loans, guarantees or investments covered under the provision of Section

Act, 2013 are given in the Note No. 5 to the Financial Statement.

28. CONTRACTS AND ARRANGEMENTS WITH

RELATED PARTIES

All related party transactionswhich were entered during the financial year were in the ordinary course of business and on an arms length basis. There were no materially significant related party transactions entered by the

Company with the Promoters, Directors, Key Managerial

Personnel or other persons which may have a potential conflict A statement of all related party transactionsis presented before the Audit Committeeon quarterly basis, specifying the related the nature and value of transactions. party transactionsentered during the financial year were on an arms length basis and in the ordinary course of business, no details are required to be provided in Form

AOC-2 as prescribed under Section and Rule 8(2) of the Companies (Accounts) Rules, 2014.

In line with the requirements of the Companies Act,

2013 and SEBI Listing has approved a Policy on Related Party Transactions which is also available on Companys website at www. shaktipumps.com .

29. DISCLOSURE UNDER THE SEXUAL

HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company has in place a Policy on Prevention

Harassment in line with the requirements of the Sexual

Harassment of WomenattheWorkplace(Prevention, Energy Solutions Private Limited of Prohibition & Redressal) Act, 2013 and has constituted the Internal Complaints Committee to redress received regarding sexual harassment. During the year, no complaint was received by the Company.

30. AUDITORS

• Statutory Auditors and their reports

134(5)(e) In terms of provisions of Section

M/s PGS & Associates., Chartered Accountants

Mumbai (Firm RegistrationNo.: 122384W) were re-appointed as the Statutory Auditors of the Company at the 26^th Annual General Meeting (AGM) held on 29^th September, 2021 to hold office working. till the conclusion of the 29 ^th AGM of the Company. The Report given by M/s PGS & Associates, on the financialStatements of the company for the financial year 2023-2024 is part of this Annual Report. There has been no qualification, remarks or disclaimers given by the Auditor in this Report.

186 of the Companies

As the two terms of M/s PGS & Associates, Chartered Accountant as the Statutory Auditors of the Company expires at the conclusion of 29^th

AGM, the Board of Directors at their meeting on September 03, 2024 based on recommendation of the Audit Committee, has recommended to the Members, The appointment of M/s. Price Waterhouse Chartered Accountants LLP (Firm

Registration

Auditors of the Company for a term of 5 consecutive years commencing from the conclusion of the 29^th

AGM tillthe conclusion of 34 ^th AGM. Accordingly, with theinterestsoftheCompany. an Ordinary Resolution, proposing appointment of M/s. Price Waterhouse Chartered Accountants LLP as the Statutory Auditors of the Company for a term of 5 (Five) consecutive years pursuant to Section 139 of the Act, forms part of the Notice of the 29^th AGM of the Company. The Company has received the written

M/s. Price Waterhouse Chartered Accountants LLP satisfy the criteria provided 134(3)(h)oftheAct under Section the Act and that the appointment, if made, shall be in accordance with the applicable provisions of the Regulation Act and rules framed thereunder. 2015, the Board

• Secretarial Auditor and their reports

The Board had appointed M. Maheshwari &

Associates (FCS 5174), Practicing

Secretary to carry out the Secretarial Audit for the financial year 2023-24.

The Secretarial Audit Report is annexed herewith

Annexure V to this Report. This report is unqualified and self-explanatory and does not call for any further comments/explanations.ofSexual The Secretarial Audit

Report of material unlisted subsidiary company the i.e. Shakti company is also annexed along with Annexure V. complaints

• Cost Auditor and their reports

As per the requirement of Central Government and pursuant to the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014, as amended the Company is requiredfrom time to time, appoint Cost Auditor for the audit of Cost Records of the Company. process

The Board of Directors, on the recommendation of Audit Committee, and remuneration payable to M/s. M. P. Turakhia &

Associates, Cost Accountant, as the Cost Auditors of the Company to audit the cost records for the financial year 2024-25. As per the statutory requirement, the requisite resolution for seeking members approval for the remuneration payable to the Cost Auditor forms part of the Notice of the ensuing Annual General Meeting.

31. CONSERVATION OF ENERGY,

TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

conservation of energy, technology Theinformation exchange earnings and outgo as absorption required underSection134(3)(m) of the Companies Act,

2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is set out herewith as Annexure VI to this Report.

32. COMPLIANCE WITH SECRETARIAL

STANDARD

Pursuant to Section 205 of the Act, the Company complies with the applicable Secretarial Standards as of Company Secretaries mandatedbythe Institute of

India (‘ICSI) to ensure compliance with all the applicable provisions read together with the relevant circulars issued by MCA during pandemic.

33. SIGNIFICANT AND MATERIAL ORDERS

PASSED BY COURTS/ REGULATORS/

TRIBUNALS

The detail of significant order passed by the Securities Exchange Board of India is mentioned in the Corporate

Governance Report. There is no corporate insolvency initiated under the Insolvency and resolution

Bankruptcy Code, 2016.

34. VIGIL MECHANISM approved the appointment Pursuant to the provisions of Section 177(9) & (10) of the Companies Act, 2013 and Regulation 22 of the SEBI

Listing Regulations, 2015, a Vigil

Blower Policy for dealing with unethical behaviour actual or suspected fraud or violationof the Companies

Code of Conducts or ethics policy, if any. The same is uploaded on the website of the Company i.e. https:// www.shaktipumps.com/policies_programmes/vigil_ mechanism_policy.php

35. APPRECIATION AND ACKNOWLEDGMENTS

Your Directors take this opportunity to thank and acknowledge with gratitude, the by the employees through their hard work, dedication, competence, commitment and co-operation towards the success of your Company and have been core to our existence that helped us to face all challenges.

Your Directors are also thankful for consistent cooperation and assistance received from its shareholders, investors, business associates, customers, vendors, and bankers, regulatory and government authorities showing their confidence in the Company.

	For and on behalf of the Board of Directors
	Shakti Pumps (India) Limited
	Dinesh
Place: Indore	Chairman
Dated: September 03, 2024	DIN:-00549552