Suraj Products Ltd Directors Report

Dear Shareholders,

Your Directors have pleasure in presenting their Report on the business and operations of your Company along with the Audited Accounts of the company for the year ended 31st March 2025.

FINANCIAL RESULTS:

Particulars	Current Year ( In Lac)	Previous Year ( In Lac)
Sales and other income	32,690.27	34,544.75
Profit before depreciation	3,545.56	4,814.94
Depreciation	783.48	894.87
Profit for the year	2,762.08	3,920.07
Provision for tax	618.69	1,027.09
Profit after tax	2,143.39	2,892.98
Other comprehensive income	(1.42)	2.26
Dividend Paid	(228.00)	(171.00)
Total Comprehensive Income	1,913.97	2,724.24
Profit brought forward from the previous year	11,351.09	8,626.85
Surplus carried to Balance Sheet	13,265.06	11,351.09
Earning per equity share of 10 each Basic (in )	18.80	25.38
Diluted (in )	18.80	25.38

OPERATIONS AND PERFORMANCE:

The Company achieved Net Sales of 32,637.27 Lacs as against 34,467.69 Lacs in the previous years. The EBITDA for the year was 3,771.57 Lacs in comparison to 5,162.48 Lacs in the previous year. After providing for interest, depreciation and tax, the profit after tax of the Company was 2,143.39 Lacs as against 2,892.98 Lacs in the previous year, which resulted in EPS of 18.80 in the current year compare to previous years 25.38.

OPERATIONAL REVIEW:

The Company adopted focused approach on improving its volumes, operational efficiencies and operating facilities at optimum levels. The multiprolonged strategy has helped the Company in seizing the opportunity offered by the pickup in the economic activities in the country especially the steel intensive sectors like infrastructure, construction etc.

During the year, the Company produced 38,423 MT (Previous Year 37,838 MT) of Sponge Iron, 25,323 MT (previous year 30,426 MT) of Pig Iron, 69,276 MT (previous year 65,532 MT) of MS Billet and 57,740 MT (previous year 55,180 MT) of TMT Bars.

TRANSFER TO RESERVE:

The Board of Directors has decided to retain the entire amount of profit, remaining after payment of dividend, for FY 202324 in the statement of profit and loss.

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DIVIDEND:

Board of Directors of the Company recommend payment of final dividend @ 21 % i.e. 2.10 per equity share of 10/ each, subject to approval of shareholders at the forthcoming AGM.

The dividend, if approved would result in a cash outflow of 2.39 crores. Pursuant to the Finance Act, 2020, dividend income is taxable in the hands of the shareholders effective April 1, 2020, and the Company is required to deduct tax at source from dividend paid to the Members at prescribed rates as per the Income Tax Act, 1961.

TRANSFER OF UNCLAIMED DIVIDEND:

In terms of provisions of Investor Education and Protection Fund (Accounting, Audit, Transfer and Refund) Rules, 2016 (including amendments and modifications thereof) no amount of unpaid dividend has been transferred during the year under review to the Investor Education and Protection Fund.

DIVIDEND DISTRIBUTION POLICY:

In terms of Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (SEBI Listing Regulations) the Board of Directors of the Company (the Board) formulated and adopted the Dividend Distribution Policy (the Policy).

The Board has recommended dividend based on the parameters laid down in the Dividend Distribution Policy and dividend will be paid out of the profits for the year. The dividend on Equity Shares is subject to the approval of the Shareholders at the Annual General Meeting (AGM).

FUTURE OUTLOOK:

The Indian steel industry is also expected to remain buoyant amidst strong domestic demand recovery, accommodative government policies and export opportunities. Through its policies, the Government significantly increased capital expenditure on infrastructure projects to build back mediumterm demand and aggressively implemented supplyside measures to prepare the economy for a sustained longterm expansion. Government initiative for recovering economic momentum and the likely longterm benefits of supplyside reforms in the pipeline, the Indian Economy is in a good position to witness GDP Growth of around 8.0% to 8.5% in 202526.

ANNUAL RETURN:

The Annual Return of the Company as on March 31, 2024 in the Form MGT7 in accordance with Section 92(3) and 134(3)(9) of the Act as amended from time to time and the Companies (Management and Administration) Rule, 2014 is available on the website of the Company.

FORMATION OF 100% WHOLLY OWNED SUBSIDIARY IN ABU DHABI, UAE:

Company has incorporated a 100% Wholly Owned subsidiary in Abu Dhabi (UAE) by the name SURAJ IRON & STEEL MANUFACTURERS L.L.C. S.P.C. dated 07.01.2025.

PURPOSE OF FORMATION OF 100% WHOLLY OWNED SUBSIDIARY:

There is immense opportunity for setting up unit in Abu Dhabi (UAE) for manufacturing of Ferro Alloys and Green Iron & Steel and Company should take advantage of the opportunity. In order to explore the opportunity, Company has incorporated a Wholly Owned subsidiary in Abu Dhabi (UAE) by the name SURAJ IRON & STEEL MANUFACTURERS L.L.C. S.P.C.

ACQUISITION OF LAND FOR SETTING UP FACTORY:

We are pleased to inform you that arrangements have been made with KEZAD Group, Khalifa Economic Zones, Abu Dhabi for allotment of land in ICDA III, Abu Dhabi on lease basis for a period of 50 years for the purpose of setting up manufacturing facilities for Ferro Alloys and Green Iron & Steel in Abu Dhabi, UAE for which necessary agreement & other documents has been executed.

INVESTMENT IN ITS 100% WHOLLY OWNED SUBSIDIARY COMPANY IN ABU DHABI, UAE:

The Company proposes to make investments, provide loans or give guarantees or securities to its subsidiary company Suraj Iron and Steel Manufacturers L.L.C S.P.C, which may exceed the prescribed limits under Section 186(2) of the Companies Act, 2013.

The Board of Directors recommends obtaining shareholders approval to authorise the Company to invest an amount not exceeding 200 crore (Rupees Two Hundred Crore only) in its subsidiary company, in one or more tranches, whether by way of equity, debt, convertible instruments, or any other securities.

DETAILS OF DIRECTORS & KEY MANAGERIAL PERSONNEL:

In accordance with the provisions of Section 152 of the Companies Act, 2013 and the Articles of Association of the Company, Mrs. Sunita Dalmia (DIN 00605973), NonExecutive Promoter Director, retires by rotation at the forthcoming Annual General Meeting and Being eligible, offers herself for reappointment. Members approval is being sought at the ensuing Annual General Meeting for her reappointment. Your Directors recommend her reappointment.

Accordingly Members approval is being sought at the ensuing AGM for her appointment.

In terms of Section 203 of the Act, the following are the Key Managerial Personnel (KMP) of the Company as on 31st March, 2025:

i. Mr. Y.K.Dalmia, Managing Director

ii. Mr. Gagan Goyal, Executive Director

iii. Mr. M.K.Hati, Chief Financial Officer

iv. Mr. A.N.Khatua, Company Secretary PERFORMANCE EVALUATION:

Pursuant to the provisions of Section 134 (3) (p) of the Companies Act, 2013, a structured questionnaire was prepared after taking into consideration of the various aspects of the Boards functioning, composition of the Board and its Committees, culture, execution and performance of specific duties, obligations and governance.

The performance evaluation of the Independent Directors was completed. The performance evaluation of the Chairman and the nonindependent Directors was carried out by the Independent Directors. The Board of Directors expressed their satisfaction with the evaluation process.

INDEPENDENT DIRECTORS DECLARATION:

The Company has received the necessary declaration from each Independent Director in accordance with Section 149(7) of the Act and Regulations 16(1 )(b) and 25(B) of the SEBI Listing Regulations, that he/she meets the criteria of Independence as laid out in Section 149(6) of the Act and Regulations 16(1 )(b) of the SEBI Listing Regulations.

In the opinion of the Board, there has been no change in the circumstances which may affect their status as Independent Directors of the Company and the Board is satisfied of the integrity, expertise and experience (including proficiency in terms of Section 150(1) of the Act and applicable rules thereunder) of all Independent Directors on the Board. Further, in terms of Section 150 read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014, as amended, Independent Directors of the Company have included their names in the Data Bank of Independent Directors maintained with the Indian Institute of Corporate Affairs.

COMPLIANCE WITH APPLICABLE SECRETARIAL STANDARDS:

The Company has duly followed the applicable Secretarial Standards, relating to meeting of the

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Board of Directors (SS1) and General Meeting (SS2), issued by the Institute of Company Secretaries of India (ICSI)

BOARD MEETINGS:

During the year under review, the Board met four times on: 23.05.2024, 10.08.2024, 04.11.2024, and on 08.02.2025. The intervening gap between two consecutive Board Meetings was within prescribed period of 120 days as specified under the provisions of Section 173 of the Act and Listing Regulations.

Following is the attendance of each of the Directors at the meetings held during the period under review:

Name of the Directors	Attendance Particulars		Number of other Directorship and Committee Chairmanship/Membership
	Board Meetings	Last AGM	Other Directorship	Committee Membership	Committee Chairmanship
Sri C.K.Bhartia	4	Yes	3	4	3
Sri Y. K. Dalmia	4	Yes	12	2
Smt. Sunita Dalmia	4	Yes	11	2
Smt. Neha Singhania	4	Yes		4	1
Dr. Bhagiratha Mishra	4	Yes	1
Sri Gagan Goyal	4	Yes		1

CHANGE IN NATURE OF BUSINESS, IF ANY:

During the year under review there is no change in nature of business of the Company.

SAFETY:

The Company is committed for the implementation of the best possible practices for ensuring the safety of its all stakeholders including employees and contractors. The Company strongly believes that providing safe & healthy working environment to its workforce is not only a statutory requirement but also its moral responsibility.

The Company has developed safety standards, SOPs and safety manual systems and procedures which addresses employee safety, occupational health, process safety and emergency preparedness.

The Company has a structured system for periodically review policies, objectives and targets for continual improvements through corrective and preventive actions and provides safe and healthy working for all by implementing "Zero Accident" policy.

MATERIAL CHANGES AND AMENDMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

There were no material changes and commitments affecting the financial position of the Company between the end of the financial year of the Company to which the financial statements relate and the date of the report.

SIGNIFICANT AND MATERIAL ORDER PASSED BY THE REGULATOR OR COURT OR TRIBUNALS:

During the period under review there were no significant and material orders passed by the Regulators/ Courts or Tribunals impacting the going concern status of the Company and its operations in future. However, Members attention is drawn to the statement on contingent liabilities, commitments in the notes forming part of the Financial Statements.

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CLOSURE OF MEMBERS AND SHARE TRANSFER BOOKS:

The Register of Members and Share Transfer Books of the Company will be closed with effect from Saturday September 20, 2025 to Friday, September 26, 2025 (both days inclusive) for the purpose of Dividend & Annual General Meeting.

CAPITAL STRUCTURE:

There is no change in the Authorized Share Capital and Paidup Capital of the Company during the year under review. The Authorized Share Capital of the Company is 12,00,00,000/ (Rupees Twelve Crores only) divided into 1,20,00,000 Equity Shares of 10/ each. As on March 31,2025, the paidup share capital of the Company is 11,40,00,000 (Rupees Eleven Crores and Forty Lacs only) divided into 1,14,00,000 Equity Shares of 10/ each. During the year your Company has not issued any equity shares.

DEPOSITS:

During the year, the Company has not accepted any Deposits as defined under the Companies Act, 2013.

LOANS AND ADVANCES IN WHICH DIRECTORS ARE INTERESTED:

During the year under review the Company has not given any loan to any person or other Body Corporate, not given any guaranty or provided any security in connection with a loan to any other Body Corporate or person and not acquired by way of subscription, purchase or otherwise, the securities of any other body corporate.

UNSECURED LOAN FROM DIRECTORS:

During the year under review, the Company has not borrowed an unsecured loan from any of the Directors of the Company.

CREDIT RATING:

Credit Rating Agency M/S ICRA Limited has upgraded our Bank Loan facilities rating as follows:

1. Long term facility (ICRA) BBB (Stable).

2. Short term facility (ICRA) A3+

AUDITORS REPORT & AUDITORS OBSERVATION:

There is no audit qualification in the Companys Financial Statements. The company continues to adopt practices to ensure best practice as per Indian Accounting Standards. The Notes on Accounts referred to in the Auditors Report enclosed are selfexplanatory and do not call for any further comments. STATUTORY AUDIT:

The Board of Directors on recommendation of Audit Committee, at their meeting held on 23.07.2022, had recommended appointment of M/S GARV & Associates (Formerly Rustagi & Co.), Chartered Accountants, Kolkata (ICAI Firm Registration Number 301094E) for a period of 5 consecutive years to hold office from the conclusion of Thirty first (31st) Annual General Meeting until the conclusion of thirty sixth (36th) Annual General Meeting of the Company at such remuneration as may be mutually agreed by the Board of Directors of the Company and the Auditors.

The Statutory Auditor M/S GARV & Associates (Formerly Rustagi & Co.), Chartered Accountants, Kolkata has submitted an Audit Reports for the financial year 202425. There is no qualifications, reservations, adverse remark or disclaimer in the Auditors Report.

The Company has used accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility except in respect of property, plant and equipment, valuation of inventories and payroll related records.

INTERNAL AUDIT :

At the beginning of each financial year, an audit plan is rolled out with approval of the Companys Audit Committee. The plan is aimed at evaluation of the efficacy and adequacy of Internal Control

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Systems and compliance thereof, robustness of internal processes, policies and accounting procedures and compliance with laws and regulations. Based on the reports of internal audit, process owners undertake corrective action in their respective areas. Significant audit observations and corrective actions are periodically presented to the Audit Committee of the Board.

Pursuant to the provisions of Section 138 of the Companies Act, 2013 C B A & Associates Chartered Accountants were appointed as Internal Auditors of the Company for the Financial Year under review.

COST AUDIT:

Pursuant to Section 148 of the Companies Act, 2013 read with rules made there under, the Board has reappointed M/s A S & Associates, Cost Accountants (Registration No000523) to audit the Cost Accounts of the Company for the year ending 31st March, 2025.

The Company has submitted Cost Audit Report and other documents for the year ended 31st March, 2024 with the Central Government by filing Form CRA4 vide SRNF98943913 dated 20.09.2024.

SECRETARIAL AUDIT:

Pursuant to provisions of section 204 of the Companies Act, 2013 and rules made thereunder, the Company has appointed Shruti Agarwal, Kolkata a Company Secretary in practice to undertake the Secretarial Audit of the Company for a period of five years.

The Secretarial Audit Report is annexed herewith as "Annexure I". The Secretarial Audit Report does not contain any qualification, reservation or adverse remarks for the year under review.

The Company is in compliance with the applicable Secretarial Standards issued by the Institute of Company Secretaries of India and approved by the Central Government under Section 118(10) of the Act.

AUDIT COMMITTEE RECOMMENDATION:

During the year all the recommendations of the Audit Committee were accepted by the Board. The composition of the Audit Committee is as described in the Corporate Governance Report.

LISTING FEES:

The shares of the Company are listed at Bombay Stock Exchange and Calcutta Stock Exchange Limited. The Scrip Code at BSE is 518075 and at CSE is 13054.

The respective listing fees for the above Stock Exchanges up to the year 202526 have been paid.

DISCLOSURE AS PER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

The Company has zero tolerance towards sexual harassment at workplace. The Company has adopted a policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at workplace (prevention, prohibition and Redressal) Act, 2013 and the Rules framed there under. It has constituted an internal Complaint Committee in compliance with the above mentioned Act and Rules. During the Financial Year 202425, no complaint has been received.

SAFETY, HEALTH & ENVIRONMENT:

The Company is committed to provide a safe and healthy working environment and achieving an injury and illness free work place. During the year under review, there was no lost time injury incident reported.

RECONCILIATION OF SHARE CAPITAL:

As directed by Securities Exchange Board of India (SEBI), Reconciliation of Share Capital is being carried out quarterly by a practicing Company Secretary. The findings of the Reconciliation of Share Capital were satisfactory.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to section 134 (5) of the Companies Act, 2013 the Board of Directors of the Company confirm that;

(i) In the preparation of the annual accounts for the financial year ended 31st March, 2025, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(ii) They 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 of the company at the end of the financial year and of the profit and loss of the company for that period;

(iii) They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(iv) They have prepared the annual accounts for the financial year ended 31st March, 2025 on a going concern basis;

(v) They have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively;

(vi) They have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

During the year under review, there have been no material changes and commitments affecting the financial position of the Company.

NUMBER OF BOARD MEETINGS DURING F.Y. 202425:

During the FY 202425, the number of meeting of Board of Directors of the Company comes to 4(four). The details of the number of meetings of the Board held during the financial year forms part of the Corporate Governance Report.

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

The prescribed details as required Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 are set out in Annexure A forming part of this report. ACKNOWLEDGEMENTS:

Your Directors wish to thank all stakeholders, employees and business partners and Companys Bankers for their continued support and valuable cooperation. The Directors also wish to express their gratitude to investors for the faith that they continue to repose in the Company. We place on record our appreciation of the contribution made by employees at all levels. Our resilience to meet challenges was made possible by their hard work, solidarity, cooperation and support. NOMINATION & REMUNERATION POLICY:

The Board of Directors has framed a policy which lays down a framework in relation to remuneration of Directors, Key Managerial Personnel and senior Management of the Company. This policy also lays down criteria for selection and appointment of Board Members. The objective of the remuneration policy is to enable the Company to attract, motivate, and retain qualified industry professionals for the Board of Management and other executive level in order to achieve the Company strategic goals. The remuneration policy acknowledges the internal and external context as well as the business needs and long term strategy. The policy is designed to encourage behaviour that is focused on longterm value creation, while adopting the highest standards of good corporate governance. The Companys Remuneration Policy is available on the companys website https://www.surajproducts.com

RELATED PARTY TRASACTIONS:

All transactions entered into with related parties (as defined under the Companies Act, 2013) during the financial year were in the ordinary course of business and on an Arms length pricing basis, and do not attract the provisions of Section 188 of the Companies Act, 2013 and were within the ambit of clause 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. There were no materially significant transactions with related parties during the financial year which were in conflict with interests of the Company. Suitable disclosure as required by the Accounting Standards has been made in the notes to the Financial Statements.

VIGIL MECHANISM POLICY:

The Company has a vigil mechanism named Fraud and Risk Management Policy to deal with instance of fraud and mismanagement, if any.

In staying true to our values of Strength, Performance and Passion and in line with our vision of being one of the most respected companies, the Company is committed to the high standards of Corporate Governance and stakeholder responsibility.

The Company has a Fraud Risk and Management Policy to deal with instances of fraud and mismanagement, if any.

The FRM Policy ensures that strict confidentiality is maintained whilst dealing with concerns and also that no discrimination will be meted out to any person for a genuinely raised concern.

A high level Committee has been constituted which looks into the complaints raised. The Committee reports to the Audit Committee and the Board.

WHISTLE BLOWER POLICY:

The Company has a "Whistle Blower Policy" to report genuine concerns or grievances. The Whistle Blower Policy has been posted on the website of the Company.

PARTICULARS OF EMPLOYEES AND MANAGERIAL REMUNERATION:

Disclosure pertaining to remuneration and other details as required under Section 197 of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are provided in the Annual Report.

The Statement containing particulars of employees as required under section 197(12) of the Companies Act, 2013 read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is available for inspection in terms of Section 136 of the Act, any member interested may write to the Company Secretary and the same will be furnished on request.

CORPORATE SOCIAL RESPONSIBILITY:

The concept of Corporate Social Responsibility has gained prominence from all avenues. Organizations have realized that Government alone will not be able to get success in its endeavour to uplift the downtrodden of Society. With the rapidly changing corporate environment, more functional autonomy, operational freedom etc. our Company has adopted CSR as a strategic tool for sustainable growth. Pursuant to Section 135 of the Companies Act, 2013 read with Schedule VII and Companies (Corporate Social Responsibility Policy) Rules, 2014, the Board of Directors of the Company has in place a Corporate Social Responsibility (CSR) Policy including the CSR activities and their budgets as well as recommendation of any subsequent change/modification to the CSR Policy. The CSR Policy has been posted on the website of the Company available at the link www.surajproducts.com.

The Annual Report on CSR activities is annexed herewith as: AnnexureIII.

STATEMENT PURSUANT TO LISTING AGREEMENT:

Your Companys shares are listed with Bombay Stock Exchange Limited and Calcutta Stock Exchange Limited. We have paid the Annual Listing Fees and there are no arrears.

PREVENTION OF INSIDER TRADING:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company. The Code requires preclearance for dealing in the Companys shares and prohibits the purchase or sale of Companys shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the Trading Window is closed. The Board is responsible for implementation of the Code.

All Board Directors and the designated employees have confirmed compliance with the Code. MANAGERIAL REMUNERATION:

Executive Directors are paid remuneration by way of salary, perquisites and retirement benefits as recommended by the Nomination and Remuneration Committee and approved by the Board and shareholders of the Company. Key Managerial Personnel and senior Management Personnel are paid remuneration by way of fixed salary. The Company does not have any Stock Option Scheme. No severance pay is payable on termination of appointment.

There are no director who is in receipt of any commission from the Company and who is a managing or wholetime director of the Company.

EXTRACTS OF ANNUAL RETURN IN MGT 9:

The details forming part of the extract of the Annual Return for the year ended on 31st March, 2025, in Form MGT9, as required under Section 92 of the Companies Act, 2013 is included in this Report as Annexure II and forms an integral part of this Report.

CORPORATE GOVERNANCE:

The Company has been practicing the principles of good Corporate Governance over the years and lays strong emphasis on transparency, accountability and integrity.

A separate Section on Corporate Governance as approved by the Board on 30.07.2025 and a certificate from the Statutory Auditors of the Company regarding compliance of conditions of Corporate Governance as stipulated under SEBI (LODR) Regulations, 2015 form part of this Annual Report.

The Managing Director and the Chief Financial Officer (CFO) of the Company have certified to the Board on financial statements and other matters in accordance with Regulation 17(8) of SEBI (LODR) Regulations, 2015 pertaining to MD/ CFO certification for the Financial Year ended 31st March, 2025.

MANAGEMENT DISCUSSION & ANALYSIS REPORT:

The Management Discussion and Analysis Report for the year under review, as stipulated under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, form part of this Annual Report.

DISCLOSURES WITH RESPECT TO EMPLYEES STOCK OPTION SCHEME:

The Company does not have any Employee Stock Option Scheme during the period.

ACKNOWLEDGEMENT AND APPRECIATION:

Your Directors would like to place on record our sincere appreciation for the continued support given by the Banks, Government Authorities, customers, vendors, shareholders and depositors during the period under review. The Directors also appreciate and value the contributions made by the employees of our Company at all levels.

On behalf of the Board of Directors

Place: Barpali C. K. Bhartia

Date: the 30th day of July, 2025 Chairman

(DIN00192694)

Statement pursuant to Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 and forming part of the Directors Report for the year ended 31st March, 2025.

1. CONSERVATION OF ENERGY:

The Company has taken various steps for conservation of energy and has installed energy efficient equipments and thereby able to optimize the energy consumption.

ELECTRICITY		For the Year 20242025	For the Year 20232024
(a) Purchased Units	KWH	1,63,50,387	1,52,25,387
Amount		11,31,15,019	10,32,76,189
Cost per Unit		6.92	6.78
(b) Through Diesel Generator	KWH	33,718	46,847
Unit per Ltr. of Diesel		3.41	3.44
Cost per Unit		27.18	27.75

The Company has generated 61,313 MW power (Net) from CPP which was captively consumed during the year as compared to PY figure of 59,978 MW power (Net).

During the year 27,429 MW Power (PY 27,014) was generated from steam generated through WHRB and 33,883 MW Power (P.Y. 32,964) from steam generated through AFBC.

POWER CONSUMPTION:

Consumption of electricity per ton of production cannot be determined product wise as Company is having common processing facility for interdependent products.

2. TECHNOLOGY ABSORPTION:

The Company continues to use technology & process know how developed in house.

3. INDUSTRIAL RELATIONS:

During the year under review, your Company enjoyed cordial relationship with workers and employees at all levels.

4. FOREIGN EXCHANGE OUTGO:

Current Year () Previous Year ()

Purchase of spare parts 1,06,21,800 23,00,819

Advance for Capital Goods 98,10,492

Foreign Travelling 7,40,229

Place: Barpali

Date: the 30th day of July, 2025

On behalf of the Board of Directors

C. K. Bhartia Chairman (DIN00192694)