SRU Steels Ltd Management Discussions

Industry Structure and Developments

A. INDUSTRY STRUCTURE AND DEVELOPMENTS

Global Growth:

- The global economy remained resilient during FY 2025 26 despite geopolitical tensions, trade uncertainties and changing global financial conditions. - Global economic growth was supported by continued investment, technological development and resilient consumer demand. - India continued to outperform many major economies, with real GDP growth estimated at 7.4% in FY 2025 26.

Inflation:

- Inflationary pressures moderated significantly during FY 2025 26, supporting consumer purchasing power and domestic demand.

- Indias inflation remained well controlled, with average inflation at around 1.7% during April

December 2025.

- Lower food inflation and improved supply conditions contributed to the moderation in overall inflation.

Risks & Policy Backdrop:

- The key risks to the economic outlook include geopolitical tensions, global trade restrictions, commodity-price volatility and fluctuations in exchange rates. - Government policies continued to focus on strengthening domestic manufacturing, infrastructure, investment and supply-chain resilience. - Initiatives such as the Production Linked Incentive (PLI) schemes are expected to support manufacturing capacity, employment and Indias integration into global value chains.

INDIAN ECONOMY OVERVIEW (FY 2025 26)

- The Indian economy maintained strong growth momentum during FY 2025 26, with real GDP growth estimated at 7.4%. - Economic growth was supported by strong domestic consumption, higher investment, manufacturing activity and continued growth in the services sector. - The services sector remained a major contributor to economic growth, while manufacturing activity also strengthened during the year. - Private consumption remained robust, supported by moderate inflation and improving domestic demand. - Government initiatives focused on infrastructure development, manufacturing, digitalisation and investment are expected to support sustainable economic growth.

B. EXTERNAL ENVIRONMENT & RISKS (FY 2025 26)

- Global Indias external sector remained resilient despite global trade uncertainties and geopolitical challenges.

- Indias total exports of goods and services reached approximately US$825.3 billion in FY 2024 25, providing a strong base for external-sector performance in FY 2025 26.

- Services exports continued to provide significant support to Indias balance of payments and helped offset a part of the merchandise trade deficit. - The current account remained manageable, supported by strong services exports and remittance inflows. - Indias foreign-exchange reserves remained comfortable, providing a substantial buffer against external shocks. - However, risks from global trade restrictions, geopolitical conflicts, commodity-price movements, capital-flow volatility and exchange-rate fluctuations continue to remain relevant for the Indian economy.

- Key Table: FY 2025 26 Economic Summary

Economy/Region	FY 2025 26	GDP	Inflation (%)
	Growth (%)
World	3.1		4.6
Advanced Econ.	1.8		2.8
EM & Dev. Econ.	3.9		5.5
United States	2.3		3.2
Eurozone	1.1		2.6
China	4.4		0.9
India	7.4		1.7

C. CAUTIONARY STATEMENT

Statements in the Management Discussion and Analysis describing the Companys objectives, projections, estimates and expectations are "forward-looking statements" within the meaning of applicable securities laws and regulations. Actual results may differ materially from those expressed or implied. Important factors that could make a difference to the Companys operations include economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates; changes in the Government regulations; tax laws and other statutes and incidental factors.

INDIAN STEEL INDUSTRY

India has one of the worlds largest and fastest-growing steel industries and is currently the worlds second-largest crude steel producer. The industry is strategically important because steel is a basic input for infrastructure, construction, automobiles, railways, engineering, defence and manufacturing. The major challenges are cheap imports and global overcapacity, particularly from China; volatility in coking-coal and energy prices; high capital requirements; logistics costs; environmental regulations; and the need to reduce carbon emissions. India was a net steel importer in April May 2026, with imports of 1.37 MT against exports of 0.98 MT.

The outlook for Indian steel remains positive because Indias domestic steel demand is expanding rapidly and the country is continuing to add capacity. At the same time, the industry is moving toward green steel, energy efficiency, higher-value products and lower-carbon technologies; as of May 2026, green-steel certificates had been issued to 94 producers across 15 states.

MARKET SIZE

The Indian steel market currently has around 220 MT of annual crude-steel capacity and produces around 169 MT of crude steel.

Domestic finished-steel consumption is approximately 164 MT per year and is growing at around 7 8%. Finished steel production: 40.6 MT, up 4.9% according to the July Ministry update. Total annual crude-steel capacity reached about 222 MT by June 2026.

With a government target of 300 MT capacity by 2030 and strong infrastructure and manufacturing demand, the Indian steel industry has significant long-term growth potential.

INVESTMENTS

- India currently has roughly 220 million tonnes (MT) of crude-steel capacity, and the government has a long-term target of 300 MT by 2030 31. This requires substantial investment in new plants, expansion of existing facilities, mining, logistics and supporting infrastructure.

- The main attraction is long-term domestic demand. Indias infrastructure, construction, automobiles, railways, renewable energy and manufacturing sectors require large quantities of steel.

- Under the governments Production Linked Incentive (PLI) Scheme for Specialty Steel, the first round attracted investment commitments of about 27,106 crore. The second round, PLI 1.1, is expected to bring around 17,000 crore of investment.

- In February 2026, the government signed 85 MoUs with 55 companies, involving 11,887 crore of committed investment and 8.7 MT of additional specialty-steel capacity under PLI 1.2.

GOVERNMENT INITIATIVE

Some of the other recent Government initiatives in this sector are as follows:

The National Steel Policy 2017 aims to increase Indias crude steel capacity to 300 MT and per-capita steel consumption to 160 kg by 2030 31.

The Production Linked Incentive (PLI) Scheme for Specialty Steel encourages investment in high-value steel products, reduces import dependence and strengthens domestic manufacturing.

The government has introduced PLI 1.2 to attract investment in advanced steel products and increase specialty steel production capacity. The Green Steel Initiative promotes low-carbon steel production through renewable energy, energy efficiency, green hydrogen and other cleaner technologies. The government is supporting pilot projects for the use of green hydrogen in steelmaking to reduce carbon emissions from the industry.

The Domestically Manufactured Iron & Steel Products (DMI&SP) policy gives preference to domestically manufactured steel in government procurement and supports the Make in India programme. Quality Control Orders ensure that steel products sold in India meet specified quality standards and help prevent the use of sub-standard steel. The government is also taking measures to improve the availability of raw materials such as iron ore, coking coal and scrap and to reduce input costs for steel producers. Overall, government initiatives are focused on increasing production and capacity, attracting investment, promoting specialty and green steel, reducing imports and making the Indian steel industry more globally competitive.

AGRICULTURE INDUSTRY

INTRODUCTION

The Indian agriculture industry is one of the most important sectors of the economy and provides livelihoods to a large share of the population, particularly in rural areas. It includes crop production, livestock, dairy, fisheries, forestry and horticulture, and plays a vital role in food security, rural income and employment. India is a major producer of rice, wheat, pulses, sugarcane, cotton, fruits, vegetables, milk and spices, while agricultural exports also contribute to foreign exchange earnings. The sector is influenced by monsoon conditions, irrigation, input costs, commodity prices and government policies. The government supports agriculture through initiatives such as PM-KISAN, crop insurance, irrigation programmes, minimum support prices and agricultural infrastructure development. At the same time, challenges such as small landholdings, low productivity, dependence on rainfall, rising input costs and post-harvest losses remain significant. Going forward, technology, mechanisation, food processing, cold-chain infrastructure, agricultural exports and sustainable farming can create new growth opportunities for the Indian agriculture industry.

MARKET SIZE

The Indian agriculture and allied sector is a large part of the economy, contributing nearly one-fifth of Indias national income at current prices and providing employment to about 46.1% of the countrys workforce.

The sector is becoming more diversified, with livestock, fisheries and horticulture increasingly contributing to agricultural income. Horticulture alone accounts for approximately 33% of agricultural GVA, and production reached around 367.7 million tonnes in 2024 25.

Agriculture also has a significant export market, with major products including rice, spices, marine products, sugar, meat, fruits and vegetables. The sector has recorded average annual growth of around 4.4% over FY2016 FY2025, showing steady long-term expansion.

Overall, the Indian agriculture market has strong growth potential because of rising food demand, urbanisation, food processing, agricultural exports, dairy, fisheries, horticulture and agri-technology. However, small landholdings, climate risks, limited irrigation, low mechanisation and post-harvest infrastructure remain important constraints.

Key figures: Agriculture & allied sector 20% of national income; 46.1% of workforce; 4.4% average annual growth (FY16 FY25); horticulture 33% of agricultural GVA.

INVESTEMENT

Some major investments and developments in agriculture are as follows:

Investment in Indian agriculture is increasing, particularly in agricultural infrastructure, food processing, storage, cold chains, irrigation, mechanisation, technology and allied activities such as dairy and fisheries.

The Government of India has substantially increased the budget allocation for the Department of Agriculture

& Farmers Welfare from 21,933 crore in 2013 14 to 1.27 lakh crore in 2025 26, demonstrating the increasing policy focus on agriculture.

A major investment driver is the Agriculture Infrastructure Fund (AIF), which has a financing target of 1 lakh crore. By January 2026, loans worth 80,224 crore had been sanctioned for 1,50,431 projects, mobilising around 1.28 lakh crore of investment. These projects include warehouses, processing units, cold storage, sorting and grading facilities and farm-level infrastructure.

The government is also encouraging private investment through Farmer Producer Organisations (FPOs), food processing, agricultural start-ups, digital agriculture, drones, mechanisation and renewable-energy-based farming. The 10,000 FPO scheme has a budgetary outlay of 6,865 crore, while all 10,000 targeted FPOs had been registered by December 2025.

Investment is also moving towards solar-powered agriculture. Under PM-KUSUM, more than 21.77 lakh farmers had benefited by December 2025, with nearly 9.75 lakh standalone solar pumps installed under Component B and substantial solarisation under Component C.

Overall, the investment outlook for Indian agriculture is positive because there is significant scope for modernisation, value addition, food processing, cold-chain development, agri-tech, irrigation, renewable energy and agricultural exports. The main opportunity is shifting investment from traditional farming toward a more technology-driven, organised and value-added agricultural ecosystem.

GOVERNMENT INITIATIVES

The Government of India has increased the budget allocation for the Department of Agriculture and

Farmers Welfare to about 1.27 lakh crore in FY2025 26, compared with 21,933 crore in FY2013 14.

Under PM-KISAN, eligible farmer families receive 6,000 per year through Direct Benefit Transfer, providing direct financial support to farmers.

The Pradhan Mantri Fasal Bima Yojana provides crop insurance to protect farmers against losses caused by natural disasters, pests and diseases.

The Agriculture Infrastructure Fund supports investment in warehouses, cold storage, processing facilities and other post-harvest infrastructure.

The government is promoting 10,000 Farmer Producer Organisations to improve farmers bargaining power, market access, input procurement and value addition.

The Digital Agriculture Mission and Bharat-VISTAAR are promoting the use of digital and AI-based technologies to provide farmers with information about weather, crops, markets, pests and soil conditions.

The government is also promoting irrigation, agricultural mechanisation, natural farming, horticulture, crop diversification, soil health and food processing to improve productivity and farmer incomes.

Overall, government initiatives are aimed at increasing agricultural productivity, improving farmer incomes, reducing production risks, developing rural infrastructure, promoting technology and strengthening market access.

FOOTWEAR INDUSTRY

INDIA FOOTWEAR MARKET OVERVIEW

The Indian footwear industry is an important part of the countrys consumer goods and manufacturing sector, supported by a large domestic market, rising disposable incomes, urbanisation and changing fashion preferences. India is one of the worlds major footwear producers and has a strong manufacturing base, with both organised companies and a large unorganised sector. The industry includes leather footwear, non-leather footwear, sports shoes, sandals, slippers and premium products, with growing demand from e-commerce and organised retail. Government initiatives such as the Indian Footwear and Leather Development Programme (IFLDP), support for manufacturing infrastructure and skill development are helping improve productivity and competitiveness. However, the industry faces challenges including competition from low-cost imports, fragmented production, rising raw-material costs, limited technology adoption and the need to improve product quality and global branding. Overall, the Indian footwear industry has strong growth potential due to rising domestic consumption, export opportunities, e-commerce expansion and increasing demand for branded and value-added footwear.

Indias Footwear Revolution: From Production Powerhouse to Export Giant

Indias footwear industry is undergoing a major transformation, moving from being primarily a production-focused industry to becoming a competitive global export hub. India is already one of the worlds largest footwear producers, supported by abundant labour, a large domestic market, established leather and non-leather manufacturing capabilities and a growing supplier ecosystem. Rising incomes, urbanisation, e-commerce and changing consumer preferences are increasing demand for branded, sports and lifestyle footwear in the domestic market. At the same time, government initiatives such as the Indian Footwear and Leather Development Programme are supporting manufacturing infrastructure, technology, employment and exports. With global companies diversifying their supply chains beyond China, India has an opportunity to increase its share of global footwear exports by improving productivity, product quality, design capabilities, sustainability and global branding. However, competition from countries such as China, Vietnam and Indonesia, along with logistics costs and the fragmented nature of the domestic industry, remain important challenges. Overall, India has the potential to evolve from a large footwear manufacturing base into a global footwear export powerhouse.

Investment Trends in Indian Footwear Industry in the last 5 years

Over the last five years, investment in the Indian footwear industry has shown a generally positive trend, supported by rising domestic demand, export opportunities, government incentives and the expansion of organised manufacturing. The Indian Footwear and Leather Development Programme (IFLDP), with an approved outlay of 1,700 crore up to March 2026, has supported infrastructure development, technology upgradation, environmental improvements and additional investment in the sector.

During 2020 21 and 2021 22, investment activity was affected by the COVID-19 pandemic and supply-chain disruptions, but the sector gradually recovered as domestic consumption and exports improved. From 2022 23 onwards, investment momentum strengthened, particularly in manufacturing facilities, clusters, technology and capacity expansion. Government support through IFLDP and other initiatives has encouraged both existing manufacturers and new investors to expand production.

Over the last five years, investment in the Indian footwear industry has shown a positive trend, supported by rising domestic demand, increasing exports, e-commerce growth and government support. During 2020 21 and 2021 22, investment activity was affected by the COVID-19 pandemic, supply-chain disruptions and weaker consumer demand. From 2022 23 onwards, investment started recovering and increased in areas such as manufacturing capacity, technology, modern machinery, product development and export-oriented production.

Government initiatives such as the Indian Footwear and Leather Development Programme have encouraged investment in manufacturing infrastructure, technology upgradation, environmental improvements and employment generation. Investment has also increased in non-leather footwear, sports shoes, branded footwear, automation and sustainable production. Overall, the industry is gradually moving from traditional and fragmented manufacturing towards organised, technology-driven and export-oriented production, creating significant opportunities for both domestic and international investors.

Challenges and Growth Barriers in Indias Footwear Industry

The industry remains highly fragmented, with a large number of small and unorganised manufacturers that often have limited access to finance, modern machinery and advanced technology. Rising prices of leather, synthetic materials, rubber, chemicals, energy and transportation increase production costs and put pressure on manufacturers profit margins. Indian footwear manufacturers face strong competition from countries such as China, Vietnam, Indonesia and Bangladesh, which often have more developed supply chains and lower production costs. Limited adoption of automation and modern manufacturing technology affects productivity, product consistency and the ability to produce high-value footwear at competitive prices. The industry also faces challenges related to skilled labour, particularly in areas such as footwear design, product development, quality control and advanced manufacturing. Logistics and infrastructure costs remain relatively high, which can reduce the competitiveness of Indian footwear in international markets. Exporters face increasing requirements related to product quality, sustainability, labour standards and environmental compliance, particularly in developed markets. The industry has significant dependence on imported machinery and certain raw materials, which can expose manufacturers to exchange-rate fluctuations and international supply-chain disruptions. Limited global branding and design capabilities make it difficult for many Indian footwear companies to compete with established international brands in premium and lifestyle segments. Overall, the major barriers are fragmented production, high input costs, technology gaps, international competition, skill shortages and limited global brand presence. Addressing these issues through investment, modernisation, skill development, better infrastructure and stronger branding can help India become a major global footwear manufacturing and export hub.

Rising Trends and Opportunities in the Indian Footwear Market

Footwear market in India has been experiencing dynamic growth focused by various emerging trends and opportunities. One major trend is the rise in demand for athleisure and sports footwear, as consumers progressively prioritize health, comfort, and style. This shift is inducing brands to expand their product helps and innovate with technology-driven features, like fitness tracking. Another significant trend is the rising prominence on sustainability, with consumers obtaining eco-friendly and properly produced footwear. This shift presents opportunities for brands to adopt environmental practices, use recyclable materials, and accelerate transparency in their supply chains. Additionally, growing digital platforms is transforming how consumers shop for footwear, indicating to increased online sales and the need for a strong digital presence. As disposable incomes rise and growth go faster, there is also a growing India Footwear market for premium and fashion-forward footwear. Brands that can essentially capitalize on these trends by focusing on sustainability, innovation, and digital engagement are well-positioned to follow in the increasing Indian footwear market.

CONSTRUCTION INDUSTRY

The Indian construction business is one of the largest and most important sectors of the economy, supported by rapid urbanisation, infrastructure development, housing demand and industrial expansion. The sector includes residential and commercial buildings, roads, railways, airports, bridges, ports, power projects and other infrastructure. Government spending on highways, railways, urban infrastructure, affordable housing and smart cities continues to create strong demand for construction companies. Private investment in real estate, manufacturing facilities, data centres, renewable energy and logistics infrastructure is also creating new opportunities. However, the industry faces challenges such as rising material costs, shortage of skilled labour, land acquisition issues, project delays, financing constraints and regulatory approvals. Overall, the Indian construction business has strong long-term growth potential because of increasing infrastructure investment, urbanisation, industrialisation and demand for housing and commercial spaces.

OPPORTUNITIES IN STEEL INDUSTRIES

Railways	Oil and gas	Power	Rural India
? The Ministry of Steel estimates that infrastructure accounts for about 25% of Indias steel consumption, while investment in roads and railways is an important driver of future steel demand.	? The expansion of the National Gas Grid, city gas distribution networks, LNG infrastructure and petroleum transportation systems can create sustained demand for line pipes, structural steel, plates and specialty steel.	? There are many opportunities in the steel industry related to power generation and energy management. Steel plants can generate their own electricity using waste gases produced during the manufacturing process. Waste heat from	? There are many opportunities for the development of steel industries in rural India. Steel industries can create employment opportunities for local people and support the growth of small businesses. They can provide jobs in
? The steel sector is already expanding capacity and moving towards higher-value products, with India targeting 300 MTPA of crude-steel capacity by 2030.	Government infrastructure programmes, including the National Gas Grid, are also identified as important drivers of future steel demand.	furnaces and other equipment can also be recovered and used to produce steam and power. The use of solar and wind energy can reduce dependence on conventional electricity. Energy-efficient motors, furnaces, and electrical equipment can help reduce power consumption. Smart energy management and automation can further improve efficiency. In the future, green hydrogen and energy- storage systems can provide new opportunities for cleaner and more reliable power in the steel industry..	production, transportation, maintenance, construction, and other related activities. The development of steel industries can also improve roads, electricity, water supply, and other infrastructure in rural areas. Local farmers and suppliers can benefit by providing goods and services to the industries. Skill development and technical training can help rural youth find better employment opportunities. Steel industries can also encourage the growth of small and medium- scale industries around them. Overall, the development of steel industries can contribute to employment generation, infrastructure development, and economic growth in rural India.

OPPORTUNITIES IN AGRICULTURE, CONSTRUCTION AND FOOTWEAR INDUSTRIES

Agriculture Industry	Construction Industry	Footwear Industry
1. Agri-tech adoption Precision farming and IoT can boost productivity and reduce costs.	1. Urban infrastructure boom Government projects fuel demand for construction services.	1. Rising middle-class demand Increased disposable income boosts branded footwear sales.
2. Export growth Rising global demand for organic and processed farm products.	2. Affordable housing need Growing urban population drives low-cost housing projects.	2. E-commerce growth Online platforms expand market reach and customer base.
3. Government support Subsidies and schemes improve farmer income and infrastructure.	3. Public-private investments PPPs open new avenues for large- scale development.	3. Manufacturing shift to Asia Global brands source more from India and Southeast Asia.
4. Sustainable farming Eco- friendly practices attract funding and global interest.	4. Green building trends Demand rises for energy- efficient, sustainable construction.	4. Sustainable fashion Eco- conscious consumers drive demand for green products.

THREATS IN STEEL, AGRICULTURE, CONSTRUCTION AND FOOTWEAR INDUSTRIES

Steel Industry	Agriculture Industry	Construction Industry	Footwear Industry
1. Raw material price volatility Fluctuating iron ore and coal prices impact profitability.	1. Climate risks Unpredictable weather patterns reduce crop yields.	1. Raw material cost hikes Volatile prices of cement and steel squeeze margins.	1. Intense market competition Heavy discounting and new entrants erode margins.
			2. Import reliance Raw
2. Global overcapacity Excess production from countries like China creates pricing pressure.	2. Price instability Volatile commodity prices impact farmer earnings.	2. Approval delays Bureaucratic red tape slows project execution. 3. Labor shortages	material shortages and costs rise with global disruptions. 3. Counterfeit goods Fake products damage
	3. Land fragmentation	Skilled labor scarcity	brand image and reduce
3. Environmental regulations Stricter emission norms increase compliance	Small holdings hinder modern farming techniques.	affects productivity and timelines. 4. High interest rates	revenue. 4. Fast-changing trends Rapid style shifts cause inventory risks
costs and cap output. 4. High energy consumption Energy-intensive processes lead to higher operating costs and carbon penalties.	4. Monsoon dependence Lack of irrigation infrastructure increases crop failure risk.	Costly financing reduces buyer affordability and demand.	and markdowns.

RISK AND CONCERNS STEEL, AGRICULTURE, CONSTRUCTION AND FOOTWEAR INDUSTRIES.

Steel Industry	Agriculture Industry	Construction Industry	Footwear Industry
1. Raw material supply risk Dependency on imported iron ore and coking coal poses supply and cost challenges.	1. Weather dependency Monsoon failure or extreme climate events can cause severe crop loss.	1. Project delays Land acquisition, regulatory approvals, and supply chain issues slow execution. 2. Cost escalation	1. Changing consumer preferences Rapid fashion trends require agile production and inventory control. 2. Brand dilution Counterfeits and
2. Environmental compliance Stricter pollution norms may require costly technology upgrades.	2. Market price fluctuations Unstable commodity prices affect income and planning for farmers.	Sudden increase in material or labor costs can lead to budget overruns. 3. Credit and liquidity risks Dependence	parallel imports can damage brand reputation and trust. 3. Supply chain disruptions Delays or cost hikes in raw
3. Cyclical demand Steel demand fluctuates with economic cycles, impacting capacity utilization.	3. Input cost inflation Rising prices of seeds, fertilizers, and pesticides reduce profitability.	on external funding exposes companies to interest rate and cash flow pressures. 4. Safety and	material imports can affect production schedules. 4. Margin pressure Intense price competition, especially
4. Global trade tensions Anti-dumping duties and tariffs in export markets may limit growth.	4. Lack of infrastructure Poor storage, transport, and irrigation facilities hamper efficiency.	compliance issues Accidents, environmental violations, or regulatory non- compliance can halt projects	online, compresses profit margins.

SEGMENT WISE PERFORMANCE

The Company is engaged in four business segments i.e. Trading of different type of steels, Construction machinery, footwear and agriculture commodities. Further, the Company is mainly operative in the cities of Gujarat and Delhi and does not operate at any other place and therefore all the revenue and income has been generated from these geographic areas only.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY:

The Company believes in systematic working and placing appropriate internal control systems and checks. Proper checks and systems are in place and regular reviews are held by the Head of Department and Senior Management to check that the systems and controls are adhered. The reviews also prescribe changes wherever required.

SRU STEELS OPERATIONS

The Company operates four business segments i.e. Trading of different type of steels, Construction machinery, footwear and agriculture commodities. At present, the Company is trading in various types of steel products, Construction machinery, footwear and agriculture commodities as well as sale of products on Commission basis. These sectors are witnessing intense competition from numerous players in the country.

MATERIAL DEVELOPMENT IN HUMAN RESOURCES /INDUSTRIAL RELATIONS FRONT, INCLUDING THE NUMBER OF PEOPLE EMPLOYED.

Human resource has always been one of the most valued stakeholders and a key differentiator for SRU Steels Limited. The underlying principle is that workers and staff at all levels are equally instrumental for attaining the Companys goals. The Company strongly believes in the policy of hiring the right talent for the right position at the right time, with a focus to improve employee productivity.

SRU believes that people are the backbone of the company. The Company has meritocratic culture and provides a conducive workplace for all. Occupational health and safety of employee is ensured at all times.

The company focuses on the learning and professional development of its employees. Training programmes are regularly conducted to update their skills and apprise them of latest techniques. To enable the organization to attain its full potential, it is imperative for us to create and maintain an ideal work culture thus creating an engaged and skilled workforce capable of delivering on the commitments to our stakeholders and in the process, making us Future Ready- structurally, financially and culturally. Senior Management is easily accessible for counseling and redressal of grievances if any. The HR Department strives to maintain and promote harmony and co-ordination amongst Workers, Staff, and Members of the Senior Management.