Vinyas Innovative Technologies Ltd Directors Report

To, The Members,

Vinyas Innovative Technologies Limited

(Formerly known as Vinyas Innovative Technologies Private Limited)

The Directors have pleasure in presenting the Twenty Third Annual Report on the business and operations of Your Company along with the audited financial statements, for the financial year ended 31 March, 2024.

1. FINANCIAL HIGHLIGHTS:

The financial results for the year ended 31 March, 2024 at standalone level is as under:

Particulars	STANDALONE
	For the year ended 31 March, 2024	For the year ended 31 March, 2023
Revenue from operations	31,719.87	23,452.40
Other Income	358.38	433.02
Total Income	32,078.25	23,885.41
Less: Total Expenses	29,990.96	22,876.47
Profit / (Loss) before tax and Exceptional Item	2,087.29	1,008.94
Exceptional Item	-	-
Profit/ (Loss) Before Tax	2,087.29	1,008.94
Less: Provision for Taxation	-	-
a) Current Tax	499.12	275.79
b) Deferred Tax	30.32	(22.19)
c) Tax for earlier years	23.19	21.01
Profit / (Loss) after tax	1,534.66	734.34
Earnings Per Share (EPS)
Basic	16.47	19.62
Diluted	16.47	19.62

2. BUSINESS PERFORMANCE:

(A) STANDALONE RESULTS OF THE FINANCIALS

Your Company achieved a consolidated total income of H31,719.87 Lakh during the current year as against H23,452.40 lakhs in the corresponding financial year ended 31 March, 2023. EBITDA for the year stood at H3281.28 lakhs compared to H2057.39 lakhs for the previous corresponding year. The Profit after exceptional item and before tax for the period stood at H2,087.29 lakhs as against H1,008.94 lakhs during the corresponding year. Net Profit for the year stood at H1534.66 Lakhs in the current financial year compared to H734.34 lakhs in the previous year.

3. RESERVE & SURPLUS:

The Board of Directors have decided to retain the entire amount of profitunder Retained Earnings. Accordingly, your Company has not transferred any amount to General Reserves for the year ended 31 March, 2024.

4. CHANGE IN THE NATURE OF BUSINESS:

The Company did not commence any new business nor discontinued/sold or disposed of any of its existing businesses and also did not hive off any segment or division during the year. Also, there has been no change in the nature of business carried on by the Companys associate during the year under review.

5. MATERIAL CHANGES AFFECTING THE FINANCIAL

POSITION OF THE COMPANY:

There have been no material changes and commitments affecting the financial position of the company, which have occurred between the end of the financial year and up to the date of the report.

6. DIVIDEND:

In order to conserve the resources, your Directors do not recommend any dividend on the equity shares of the Company for the financial year 2023-2024.

7. SHARE CAPITAL OF THE COMPANY:

A. AUTHORIZED SHARE CAPITAL

The authorized share capital of the Company as on 31 March, 2024 is H15,00,00,000 (Rupees

(One crore fifty lakh) Equity Shares ofH10/- (Rupees Ten only) each.

B. PAID-UP SHARE CAPITAL

The paid-up Equity share capital of the Company as on 31 March, 2024 is H12,58,47,260 (Twelve Crore fifty eight lakhs, forty seven thousand two hundred sixty only) divided into 1,25,84,726 (One Crore twenty five eighty four thousand only) equity shares of H10/- (Rupees Ten Only)

PREFERENTIAL ALLOTMENT:

During the year, the Company had issued 8,93,927 Equity shares at a premium of H270.6 were allotted on preferential basis on 03 May, 2023 having a face value of H10/- each to its members and other new investors.

BONUS ISSUE:

During the year, the Company had issued 46,35,963 Bonus Equity Shares having a face value of H10/- each to the members in the proportion of 1 (One) Equity Shares for every 1 (One) Equity Share held by them on 28 July, 2023.

INITIAL PUBLIC OFFER ("IPO") AND LISTING OF EQUITY SHARES

During the year under review, the Company conducted its initial public offering (IPO) of 33,12,800 equity shares, each with a face value of H10/-, in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The shares were offered at a price ofH165/- per share, which included a premium of H155/- per share.

The IPO was open for subscription from 27 September, 2023, to 3 October, 2023. The shares were allotted to applicants on 5 October, 2023, at the offer price ofH165/- per share. The Companys equity shares began trading on the SME Platform (EMERGE) of the seven hundred twenty six National Stock Exchange of India Limited (NSE) from 6 October, 2023. Additionally, the Articles of Association have been updated to comply with the Listing Regulations and Stock Exchange requirements.

The Company vide its Prospectus dated 04 October, 2023 ("Prospectus") raised H5466.12 lakhs from the initial public offer of its equity shares (the ‘IPO).

Out of the proceeds of H5466.12 lakhs raised from the IPO, H5466.12 lakhs were utilized by the Company during the financial year 2023-24 for the purposes outlined in the prospectus dated 04 October, 2023.

8. CHANGE IN NAME OF THE COMPANY:

The Companys name was changed from "VINYAS INNOVATIVE TECHNOLOGIES PRIVATE LIMITED" to "VINYAS INNOVATIVE TECHNOLOGIES LIMITED" effective 14 June, 2023, following its conversion from a Private Limited Company to a Public Limited

Company.

9. DIRECTORS AND KEY MANAGERIAL PERSONNEL:

The Board of Directors of the Company as on 31 March, 2024 comprised of 6 Directors out of which 3 are Executive Directors and 3 are Non-Executive Independent Directors. The composition of the Board of Directors of the Company is in accordance with the provisions of Section 149 of the Companies Act, 2013 and Regulation 17 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 with an appropriate combination of Executive, Non-Executive and Independent Directors.

The Directors and Key Managerial Personnel of the Company are summarized below:

Name	Designation	DIN/PAN
1 Mr. Narendra Narayanan	Managing Director	00396176
2 Mr. Sumukh Narendra	Whole Time Director	08119005
3 Mr. T R Srinivasan	Whole Time Director	00379256
4 Mr. BS Ramakrishna Mudre	Independent Director	10049340
5 Ms. Deepa Prakash	Independent Director	09703921
6 Mr. Pradeep Vithoba Desai	Independent Director	07668334
7 Mr. Amitava Majumdar	Chief Financial Officer	ACWPM1672L
8 Mr. Subodh M R	Company Secretary & Compliance Officer	FCXPS0071K

During the year the following directors & KMP were appointed to the board.

Mr. B S Ramakrishna Mudre (DIN: 10049340) appointed as Independent director w.e.f 19 August, 2023.

Mr. Pradeep V Desai (DIN: 07668334) appointed as Independent director w.e.f 19 August, 2023.

Ms. Deepa Prakash (DIN: 09703921) appointed as Independent director w.e.f 19 August, 2023.

Mr Amitava Majumdar appointed as Chief Financial Officer w.e.f 28 July, 2023.

Mr Subodh M R (M No A43878) as Company Secretary & Compliance Officer w.e.f 28 July, 2023.

During the year the following directors resigned from their directorship.

Mrs. Meera Narendra (DIN:) Executive director resigned w.e.f 17 May, 2023

Mr. Prakash S (DIN: 02262793) Non- Executive director resigned w.e.f 17 May, 2023

Mrs. Usha Prakash (DIN: 02278196) Non-Executive director resigned w.e.f 17 May, 2023 Pursuant to the provisions of Section 152 of the Companies Act, 2013 Mr. Narendra Narayanan (DIN: 00396176) will retire by rotation at the Twenty Third (23^rd) Annual General Meeting and being eligible, has offered himself for re-appointment.

None of the Directors of the Company are disqualified under Section 164(2) of the Companies Act, 2013.

KEY MANAGERIAL PERSONNEL (‘KMP):

In terms of the provisions of Sections 2(51) and 203 of the Companies Act, 2013 (‘the Act), the following are the KMPs of the Company:

Mr. Narendra Narayanan, Chairman & Managing Director

Mr T R Srinivasan, Whole Time Director

Mr Sumukh Narendra, Whole Time Director

Mr. Amitava Majumdar, Chief Financial Officer

Ms. Subodh M R, Company Secretary & Compliance Officer

10. DECLARATION BY INDEPENDENT DIRECTORS:

Directors who are independent Directors, have submitted a declaration as required under section 149(7) of the Act that each of them meets the criteria of Independence as provided in sub

Section (6) of Section 149 of the Act and under regulation 16 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time and there has been no change in the circumstances which may affect their status as Independent Director during the year. In the opinion of the

Board, the independent directors possess appropriate balance of skills, experience and knowledge, as required.

Further, in terms of Section 150 of the Companies Act, 2013 read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014, Independent Directors of the Company have confirmed that they have registered themselves with the databank maintained by the Indian Institute of Corporate Affairs (IICA).

10. DETAILS OF MEETINGS OF BOARD OF DIRECTORS:

A. Board of Directors:

During the financialyear 2023-24, 14(Fourteen) Meetings of the Board of Directors were held on 04-04-2023, 08-04-2023,03-05-2023, 26-05-2023, 08-06-2023, 17-06-2023, 28-07-2023, 30-08-2023, 21-09-2023, 26-09-2023, 04-10-2023, 05-10-2023, 28-10-2023, 29-01-2024. The details of meetings attended by the Directors are as follows:

Name of the Director	Number of Board Meeting attended
1 Narendra Narayanan	14
2 Sumukh Narendra	14
3 T R Srinivasan	14
4 BS Ramakrishna Mudre	7
5 Deepa Prakash	3
6 Pradeep V Desai	4
7 Meera Narendra	3
8 Prakash S	3
9 Usha Prakash	3

B. Audit Committee of Board of Directors:

As a measure of good Corporate Governance and to provide assistance to the Board of Directors in overseeing the Boards responsibilities,anAuditCommitteewasformedasasub-committee of the Board. The Committee is in line with the requirements of Section 177 of the Companies Act, 2013 and Regulation 18 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

The terms of reference of the Audit Committee covers all matters specified in Part C of Schedule II of Regulation 18 (3) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and also those specified in Section 177 of the Companies Act, 2013.

The composition and attendance of the members for the Audit

Committee Meetings held during the year are as follows:

Name of Director	No of meeting Attended
1 BS Ramakrishna Mudre	3
2 Pradeep V Desai	2
3 Sumukh Narendra	3

The Meetings of Audit Committee were held on 28-08-2023, 28-10-2023, 10-01-2024.

C. Nomination and Remuneration Committee:

In compliance with Regulation 19 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Section 178 of the Companies Act, 2013, the Board has constituted the "Nomination and Remuneration Committee". The composition of the Nomination & Remuneration Committee & attendance in the meetings for the financial year 2023-24 was as follows:

Name of Director	No of meeting Attended
1 Pradeep V Desai	1
2 BS Ramakrishna Mudre	1
3 Deepa Prakash	1

D. Stakeholders Relationship Committee

In compliance with the provisions of Section 178 of the Companies Act, 2013 and Regulation 20 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Board has constituted the "Stakeholders Relationship Committee" The Stakeholders Relationship Committee has been formed for the effective redressal of the investors complaints and reporting of the same to the Board periodically.

The Stakeholders Relationship Committee meeting was held on 28- 10-2023 during the year. The details of attendance of the Committee Members in the meeting are given below:

Name of Director	No of meeting Attended
1 Pradeep V Desai	1
2 BS Ramakrishna Mudre	1
3 T R Srinivasan	1

E. Corporate Social Responsibility Committee:

In compliance with the provisions of Section 135 of the Companies Act, 2013, the Board has constituted Corporate Social Responsibility (CSR) Committee.

The details of attendance of the Committee Members in the meeting are given below:

Name of Director	No of meeting Attended
1 Deepa Prakash	1
2 BS Ramakrishna Mudre	1
3 Narendra Narayanan	1

10. EVALUATION OF BOARD:

Pursuant to the provisions of the Companies Act, 2013 and Regulation 17 read with Part D of Schedule II to the Listing

Regulations, the Board has carried out an annual performance evaluation of its own performance, the Directors individually as well as the evaluation of the working of its Committees, on the basis of attendance, contribution towards development of the Business and various other criteria as recommended by the Nomination and Remuneration Committees, experience and expertise, performance of specific duties and obligations etc. were carried out. The Directors expressed their satisfaction with the evaluation process and outcome.

In a separate meeting of Independent Directors, the performances of Executive and Non - Executive Directors were evaluated in terms of their contribution towards the growth and development of the

Company. The achievements of the targeted goals were evaluated, the outcome of which was satisfactory for all the Directors of the

Company.

11. VIGIL MECHANISIM:

Your Company has formulated and published a Whistle Blower Policy to provide a mechanism ("Vigil Mechanism") for employees including directors of the Company to report genuine concerns. The provisions of this policy are in line with the provisions of the Section 177 (9) of the Act. The Whistle Blower Policy (Vigil Mechanism) is uploaded on the Company web link: https://vinyasit.com/wp-content/uploads/2023/10/8.Vigil-Mechanism.pdf.

11. COMPANYS POLICY RELATING TO DIRECTORS APPOINTMENT, PAYMENT OF REMUNERATION AND DISCHARGE OF THEIR DUTIES:

Your Company has formulated and published The Nomination &

Remuneration Policy for Directors, key Managerial Personnel and

Senior Management The provisions of this policy are in line with the provisions of Section 178(1) of the Act. The Policy is uploaded on the website of the company. The web link is https://vinyasit.com/ wp-content/uploads/2023/10/6.Nomination-and-Remuneration-policy.pdf.

12. DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the requirements under Section 134, sub-section 3(c) and sub-section 5 of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, state and confirm

a. In the preparation of the annual accounts, the applicable Accounting Standards have been followed, along with proper explanation relating to material departures;

b. Such Accounting Policies have been selected and applied consistently and judgements and estimates have been made that are reasonable and prudent to give a true and fair view of the Companys state of affairs as on 31 March, 2024 and of the Companys profit or loss for the year ended on that date.

c. Proper and sufficient care has been taken for the maintenance of adequate accounting records, in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

d. The annual financial statements have been prepared on a Going Concern Basis.

e. Internal financial controls have been laid down to be followed by the company and that such internal financial controls were adequate and operating effectively.

f. Proper systems were devised to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

13. ADEQUACY OF INTERNAL FINANCIAL CONTROLS:

The Company has in place adequate internal financial controls with reference to financial statement across the organization. The same is subject to review periodically by the internal audit for its effectiveness. During the financial year, such controls were tested and no reportable material weaknesses in the design or operations were observed. The Statutory Auditors of the Company also test the effectiveness of Internal Financial Controls in accordance with the requisite standards prescribed by ICAI. Their expressed opinion forms part of the Independent Auditors report.

Internal Financial Controls are an integrated part of the risk management process,addressingfinancialandfinancialreporting risks. The internal financial digitized and embedded in the business processes. Assurance on the effectiveness of internal financial controls is obtained through management reviews, control self-assessment, continuous monitoring by functional experts. We believe that these systems provide reasonable assurance that our internal financial controls are designed effectively and are operating as intended. During the year, no reportable material weakness was observed.

14. SUBSIDIARY, JOINT VENTURE AND ASSOCIATE

COMPANY:

As on 31 March, 2024, your Company does not have a subsidiary company, Joint venture and Associate company. Your company has not consolidated the accounts for current as well as previous financial statements.

15. SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS:

During the year no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and companys operations in the future.

16. EXTRACT OF ANNUAL RETURN:

The Annual return referred to in sub section (3) of Section 92 of the Companies Act, 2013, for the financial year ended 31.03.2024 will be placed on the website of the company ations https://vinyasit.com/after in their Secretarial Audit conclusion of the ensuring annual general meeting.

17. AUDITORS AND AUDITORS REPORT:

(A) STATUTORY AUDITOR

M/s. P. CHANDRASEKAR LLP, Chartered Accountants, Bangalore (Firm Registration No. 000580S/S200066), were appointed as the statutory auditors of the company for a period of five consecutive years in the Annual General Meeting of the Members held on 19^th August, 2023 to hold office from the conclusion of the 22^nd AGM of the Company till the conclusion of 27^th AGM of the Company at a remuneration as mutually agreed upon by the Board of Directors.

(B) SECRETARIAL AUDITOR

Pursuant to Section 204(1) of the Companies Act, 2013 the Company is required to obtain Secretarial Audit Report and annex the same to the Boards Report. Accordingly the Board, at its meeting held on 28 July, 2023, appointed M/s. A A A & Co, Company Secretaries to conduct the Secretarial audit of the the Company for FY 2023 24.

(C) COST AUDITOR

Pursuant to Section 148(1) of the Companies Act, 2013 the Company is required to maintain cost records as specified by the

Central Government and accordingly such accounts and records are made and maintained.

Pursuant to Section 148(2) of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Amendment Rules, 2014, the Company is also required to get its cost accounting records audited by a Cost Auditor. Accordingly, the Board, at its meeting held on 28 July, 2023, appointed M/s. Mallikarjun, Cost Accountant to conduct the audit of the cost accounting records of the Company for FY 2023 24.

18. AUDITORS REPORT AND SECRETERIAL AUDITORS REPORT:

Auditors Report

The Auditors Report for Financial Year 2024 does not contain any Auditors Report is enclosed with the financial statements in this Annual Report.

The Notes on financial statements referred to in the Auditors Report are self-explanatory and do not call for any further comments. The Auditors Report does not contain any qualification, reservation, adverse remark, or disclaimer.

No fraud has been reported by the Auditor under section 143(12) of the Companies Act, 2013 requiring disclosure in the Boards Report. As required by Listing Regulations, the Auditors Certificate on Corporate Governance is enclosed and forms a part of this report. The auditors certificate for Financial Year ending on 31 March, 2024 does not contain any qualification, reservation or adverse remark except as stated in the report

Secretarial Auditors Report

The Secretarial Audit Report is annexed as Annexure III and forms an integral part of this Report. The Secretarial Auditor has not Report for expressedany the year under review. Pursuant to regulation 24A of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD1/27/2019 dated 08 February, 2019, the Annual Secretarial Compliance Report forms part of this Report and is uploaded on the website of the Company.

19. CORPORATE SOCIAL RESPONSIBILITY POLICY:

During the year under review, the Company has constituted the

Corporate Social Responsibility Committee (CSR Committee) in accordance with Section 135 of the Act, the details of which have been provided in the Corporate Governance Report, which forms part of this Annual Report.

The Annual Report on CSR activities as required to be given under the Act read with Rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014 has been provided in Annexure-. The Company has adopted its Corporate Social Responsibility Policy ("the CSR Policy") in line with the provisions of the Act. The CSR Policy deals with objectives, scope/areas of CSR activities, implementation and monitoring of CSR activities, CSR budget, reporting, disclosures etc. The policy on Corporate Social Responsibility is uploaded on the website of the Company.

20. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:

During the financial year, the Company has not given any loan or guarantee or provided security in connection with a loan to any other body corporate or acquired any shares by way of subscription, purchase of securities of another body corporate which would fall under the purview of Section 186 of the Companies Act, 2013.

21. PUBLIC DEPOSIT:

The Company has neither accepted nor renewed any deposits during the year.

22. RISK MANAGEMENT POLICY:

The Board of Directors of the Company have framed a Risk Assessment and Management Policy and are responsible for reviewing the risk management plan and ensuring its effectiveness. The Audit Committee exercises additional oversight in the area of financial risks and controls. Major risks and functions are systematically addressed through mitigating actions on a continuing basis

23. RELATED PARTIES TRANSACTIONS

All Related Party Transactions (RPT) that were entered into during the financial year were on an arms length basis and in the ordinary course of business.

The disclosure of material RPT is required to be made under

Section 134(3)(h) read with Section 188(2) of the Companies Act, 2013 in Form AOC 2. The details of the material RPT, entered into during the year by the Company as approved by the Board, is given in Annexure B to this Report.

Your directors draw your attention to Note No. 36 to the Standalone financial statements, which sets out related party disclosures.

24. INSIDER TRADING REGULATIONS AND CODE OF DISCLOSURE

The Code of Practices and Procedures for Fair Disclosure of

Unpublished Price Sensitive Information and Code of Internal

Procedures and Conduct for Regulating, Monitoring and Reporting of Trading by Insiders in accordance with the requirements of the SEBI (Prohibition of Insider Trading) Regulation, 2015 and in view of recent amendments to the SEBI (Prohibition of Insider Trading) 2015 by SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2018, the Policy on Determination of Legitimate purpose and the Policy on inquiry in case of leak or suspected leak of UPSI are adopted by the Company and are made available on the Website of the Company. Weblink: https://vinyasit.com/corporate-governance/

25. MANAGEMENTS DISCUSSION AND ANALYSIS

The Management Discussion and Analysis Report for the year under review, as stipulated under Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of this Annual Report.

26. CORPORATE GOVERNANCE REPORT

In accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, corporate governance provisions are not mandatory for the Company, as it is listed as a Small and Medium-sized Enterprise (SME)."

27. GENERAL SHAREHOLDER INFORMATION

A AGM: Day, Date, Time and Venue	25th September, 2024, 11 AM, VC Mode
B Financial Year	2023-24
C Cut-off date for the purpose of determining shareholders for voting	18 September, 2024
D Listing on Stock Exchanges	NSE- Emerge
E Scrip Code	VINYAS
F ISIN	INE0OLS01010
G Payment of Listing Fee	The Company confirmsthat it has paid Annual Listing fees due to the stock exchange for the financial year 2023- 2024
H Market Price Data (High, Low during each month in last financial year 2023-24)	*Table attached below
I Registrar and share transfer agents	Skyline Financial Services Private Limited
	D-153 A
Ist Floor	Okhla Industrial Area, Phase - I New Delhi-110 020.

*Market Price Data

Month	Low	High
October- 2023	313.50	493.95
November- 2023	415.00	528.50
December- 2023	420.05	790.00
January- 2024	630.60	730.95
February- 2024	551.55	699.90
March-2024	520.00	700.00

Distribution of Shareholding as on 31 March, 2024

Share Nominal Value (H)	Number of Shareholders	% to Total Numbers	Shareholding Amount (Rs)	% to Total Amount
Up To 5,000	1	0.12	4000.00	0.00
5001 To 10,000	503	58.90	4030000.00	3.20
10001 To 20,000	113	13.23	1816240.00	1.44
20001 To 30,000	40	4.68	967880.00	0.77
30001 To 40,000	39	4.57	1386760.00	1.10
40001 To 50,000	11	1.29	519760.00	0.41
50001 To 1,00,000	61	7.14	4519580.00	3.59
1,00,000 and Above	86	10.07	112603040.00	89.48
Total	854	100.00	125847260.00	100.00

Pattern of Shareholding as on 31 March, 2024

Category	No. of shares held	Percentage of holding
1 Promoter and promoter group	3696802	29.38
2 Foreign Institutional Investors/ Mutual Funds	4000	0.03
3 Bodies Corporate	1251440	9.94
4 Individual shareholders holding nominal shares Capital up to H2 Lakhs	1325134	10.53
5 Individual Shareholders holding nominal Shares Capital in excess of H2 Lakhs	5446612	43.28
7 Hindu Undivided Family	275650	2.19
8 Trusts	61656	0.49
9 Non Resident Indians	57600	0.46
10 Any other	4,65,832	3.70
Total	1,25,84,726	100

28. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The company has in place a policy for prevention of sexual harassment in accordance with the requirements of the Sexual Harassment of women at workplace (Prevention, Prohibition & Redressal) Act, 2013. Internal Complaints Committee has been set up to redress complaints received regarding sexual harassment.

All employees (permanent, contractual, temporary, trainees) are covered under this policy. The Company did not receive any complaints during the year 2023-24.

29. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREGIN EXCHANGE EARNING AND OUTGO: a. Conservation Of Energy

During the year the Company had strict control on wasteful electrical consumption. Lights and power were switched off wherever necessary. b. Technology Absorption i. orts, in brief, made towards technology absorption during Eff the year under review: NIL ii. Benefits derived as a result of the above efforts, e.g., product improvement, cost reduction, product development, import substitution, etc.: Not Applicable iii. In case of imported technology (imported during the last 3 years reckoned from the beginning of thefinancialyear), following information may be furnished : Not Applicable iv. Expenditure incurred on Research and Development: NIL

c. Foreign Exchange Earnings And Outgo

Foreign Exchange Earnings : H12,772.41 Lakh Foreign Exchange Outgo : H19,160.91 Lakh

30. PARTICULARS OF EMPLOYEES:

Pursuant to Section 197 of the Act read with rule 5(1) of the

Companies (Appointment and Remuneration of Managerial

Personnel) Rules, 2014 the particulars of employees are annexed. The information required under Rule 5(2) and (3) of the Companies

(Appointment and Remuneration of Managerial Personnel) Rules,

2014, is provided in the Annexure forming part of this Report. In terms of the proviso to Section 136 of the Act, the Report and Accounts are being sent to the Members excluding the aforesaid

31. TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

The Company did not have any funds lying unpaid or unclaimed for a period of seven year Therefore, there were no funds which were required to be transferred to Investor Education and Protection Fund (IEPF).

32. COMPLIANCE WITH SECRETARIAL STANDARDS

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

33. DISCLOSERS UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016:

There are no applications made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year along with their status as at the end of the financial year.

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

As Company has not done any one-time settlement during the year under review hence no disclosure is required.

31. ACKNOWLEDGEMENTS:

The Directors wish to place on record their sincere appreciation for excellent support received from the Banks and financial institutions during the financial year under review. Your Directors also express their warm appreciation to all employees for their contribution to your

Companys performance and for their superior levels of competence, dedication and commitment to Directors are also grateful to you, the

Shareholders for the confidence you continue to repose in the Company..

	For and on behalf of the Board of Directors
	T R SRINIVASAN	NARENDRA NARAYANAN
Place: Mysuru	Whole Time Director	Managing Director
Date: 28 August, 2024	DIN: 00379256	DIN: 00396176