Voi^r Directors presannher aetn Annual Reportlogeiht:-: fifth the audited Accounts tajflbe year end&d 3lac Ma;cn, 202*

SUMMARY OF FlNAN DIAL HIGHLIGHT

Rs iii acs

STATEMENT OFRETAINED EARNINGS

The 0tlifiet6l Staler Ý .ants Suu OrUparfid in iSdeardanss vLtn the India Aefrannling StindiirdB (Ihd AS} urVCDr ihdccS-l ddHiysnUon li.n Bccru^l SaSiS. His ministry '.if CMpomle atfaln (MCA.) v da Is nL^ltfraa;i”n lr> Ihe -.ifidel gtizetle dated ^ef-uiry 1E 2015 notiileu the InrHafl Accounting StaJIda'ds (Ind AS) _Eepplie:st]le' Ce? dvar l^tir¹ e-asses af Car ipaniSS, IndASisapCiicdblijfium 1itAfl-.l 2017.

Indian Accounting Standards

Share Capital

Ttwrfl iyss r-j c-langslr thiShawCaplui at on 31:1 Marfi^ .ID^

Din id end ahdTrantferfti Roson/s

Tha Eitaid considered It prudent (win a vtew [u cun-serYC the resources ibrtbe corn cany s grtiwlN and expansions} nut Ed recommend psyfflartl or.jryd^:Y dencl an Itie EquftystlSirM ^rertne HriancSaJ year uhd t>r WYllftV. FurtftSf, Board d Ihfl Coin parry las dec:dgd Pdf to transfer any sum to reserve.

Eton omle C llmale and d n r Petlcnnenct

Asps'-Lib final Mtfcnate ofl^jional Statistical orfics. Hit GDP of India has grown by India farFY^)2J_r which lirtt* highest among maja: advanced and emerging market eounui fliers. ih'i rebound In growth tan be attributed to sound maci'utcjncmie ftjndimantals, mtKteiatbr or fiiflatfonafy aressuit and prudeiit oubl'-t ta ties. Further, ihe '.using ?' pupply-iJcki botcenecrLi and the thrust an Iniiastiuctdral capital sSSerdlture have enabled tconamlc growth.

Going forward, India ;s expected to cm ergs as l-ik third torflsst economy across tha wo Id by loidtyr ig tht financial syst-.m. (HjomvianjJ raspoir:- ble Inn ovation and diivlng inclusive gjswthas per this gov“nr.rnerirs Key prforffles.Sl he emphasis wii Ý rsnfj^i on promising capltei eatpendhura, -mi ash u.'.'Lure Improvement s-jEtamabe llvietlhOog practices ancihc prqrWtlon o( grasp erwigy I he -:esei\e Bank of India (RBl.l iv I conHnue to focus on ensuring durable price st-ibil ty ar-o eriving medium term deb: susLaunabTHyi thereby, further stiort-glhenlng the hear Ha) sectors reslliei ice and spun log new growth opportu nh'es

Fans are probably ;me of trie fe>v liweMiuns that have nut gore but ul fashion evei'i alts'-125 years of existence. Tti teep pace wtlii the changing times, maitulacTjrers have focused -jm impiov.ng design, efficiency, and look. Electric fan, which features lr. Lne high market penetration pn duct category, Is an Item ut necessity and mass const-mpti'.’n The ceding fan Ý -is.¹ uef in India is anticipated h; achieve a mllest-jue of 5Q.3 n' ikon unite by 2D32. 7B. India electric tans nave mosliy ficir very common types celling ans, table-ans_r ReJsst-al Ians, and Wall fans. ZUPng the firrecasted years tba ma/ftet is go n^ eo Increase r riche categories I Ike prenr. um tans, Energy efficient fans, and ciislornteed or decorative fans, nerelore vve look forward to Increase '.iur share 1 n the markel.

Marketing division of the company markets efenrtcBf products fika tan, cooler, pumps etc. We report that ihs rntitricallng division has contributed significantly to turnover of me company. We believe ttiaL tits marketing division would pertu mt better In tlto time to come and sl'-all contribute significantly InpmtttaDfllty also.

During me year 2023-2024 also, company could not start operation of the sugar mill (seasonal) mainly due to paucity of furwa to f litanes the working capital ncqul ramant and atlw direct and opa ration expenses.

Credit Riding

No credit rating duiing the financial year under itwlowwas rocetvod by the company Cosh Flow Analysis

In conformity ₀r rite provision uf Regulation 34 ufiho SEUl [Listing Obligation and OfccloEure Rcqulneimenss) Regulations ZD 15, the cash flaw statem-Bntf or the year ended 31,03.2024 fs included In the financial accounts.

Significant Events after Balance Sheet Dale

There has been no significant event alter Palanca Sheet Date.

Particulars of Loons. Guarantees or Investment

Rofsrerwe Is made to financial statements for loans to bodies corporate and for guarantees provided by ih* company. As regards details of Invesiments I n bodies oorporate, the sane are given In diet inanclal sutentents.

Certification fro m Auditors In Relation to Corporate Governance

The Report on Corporate Governance as stipulated In the Listing Regulations forms part of Annual Report. The requisite certificate flom M'e.JV.C, Ebattscherjee ftPauf, Chartered AcmiLmianls,«rtifimnirig compliance with the cundlltonsrif Corporate Qovcrrujioe as stipulated under tits Listing Regulations Is annexed hereto Anrtexura to this Report.

Corporate Governance

As per 3EBI (Listing Obligations and Disclosure Requirements} Regulation, 201 £ annayed to this Is Auditors' Certiflcatitm on Corporate Governanceforming part of the Annual Report.

fidtrlh In respect of Frauds reported by Auditors under section 143(1 3fi

During the year under review, there ware no frauds reported by the auditors to the Audit Conrmiltee or (he Board under section l S(1£) trf the Companies Act 2013. Further, no fimud has been reported during the audit conducted by the Statutory Auditors, and Secretarial Auditors of the Company,

Management Discussion and analysis

The Management Discussion and Analysis Report tor the under review ns stipulate under 3EB! (Listing and Disclosure Requirements) Regulations, 2015 Is attached

Annuel Return geuer

Pursuant to Section 02(3} read with Section 134(3}(A} of the Act, the draft Annual Return as on 31st March, 20sM Is hosted on the Company's webetie l,e-http:,Ý',hwvw,5theitansugar,|nr

Public Deposits

The Company has not accepted ary deposit from pubJio falling within the ambit of section 73 of the Companies Acs, 2013 and the Company's (Awepbinceoi Deposit) Flutes, 2014

pfirtlculqraot U-aqn and Guaranies and Investment

Details of Loans, Guarantees and Investments covered under the provistons ol flection 136 of the Companies Act, 2013 are given in (he note? to toe Financial Statements and hence no* repeated (n directors rejwrt-

CoTpcrgte Socle! Responsibility (CSR)

The Compeny haa nol developed end implemented any Csrpcrate Social Responsibility initiatives ee ihe eaid provisions are not Applicable to the Company,

Whistle Blower Policy

The Compiany has a Wtiiatie ttiewer policy which i j hosted on its website www.khsj.tanaug wJiri

Slredvrs

There we & Directors rjr Board out dfwtlistl 5 are Independent Director, and 1 is Whole Time-?iractor Tnere has bEen nn change m Directorship dunngthe year 2023-2074 except the fallowing:-

Mr ?Ý'.jay Ahiswat {DIN: 01227343] was appa'nteoasftdd liana) inrjeoenoert Nan SMCulivt Director ifcfch etf-ecl ‘mm2 i ^L0 £022 in Bdarl M^iSn'gandiBtlflcatfuri in AG Mm be held on i^.oS .^npn Ur Ajoy AWawal jl a candidate Ibrihfl office h j directi; i otthe Company, be and is hereby appointee as an ndepcndcnt Non lixeculive Director of the Comaanvitp a: linsrcia'. yw-r 7-.027 and s not noble to retire by nomton

{fif Board and Committee s Evelnatlon

Pursuant tu Hwprwislon rftoe CLimpsmyAcf. 2Ui3.>rd £17 R: I isting Oeiiaa^-.: ins and Disclosure Rsqu recants "sgulautn, 2d: 5 the Board nas parried < ul annual perfamfence evatuattori i :f ii? own parfi Ý manoe, me directors Individually js we (as working of irs Audit Commirtee, the Nom nation Remuneration and Shan^oidera Heliaiiuhsh p tomflitese n t ie Board Weeing daiea i ? 02 2024.

rhelndepsnoent Diractot^twrled nut annual pai^^anseeii^u^qnBTtheChdiliiwrson, rhe Non independent Dlreclorsend the Bn-aid as a wfioleffi the separaie meeting he :j on 12-02 voy-tchne ndependent Directors tai^tig mo ac wuntthB vfewsof the Fjnesirtjve uhecto ^rs ano other Npn-BjMtfeve Director

roe oertorm ,mce o^: the Roam, ns Comm-Tiees and each Boam Member ma y Dually v, as evsli i sued by the Bnanri bases nn the policy nr rjerfnima.xe equation spec Bed oy frid Nom nation am l>n rnorntinri Crirrumittee Thd method of evaluation h?r. been E*pla neo in (torpor,ste Govern&n ns Report

{ilfo Board and Committees MeelhitfS

The rietai Sof-mfletii'g d(Board Sfld ItSVarlcuScoiUrrettehs .ve given ir Corporate Cl^veritanceReportfornnnq pen ntiepnrt. {iv> ClsqnelHlcfliturmf Dlreotare

None c-f the Directs rs are d^: squsilfled under section I 04#) nf the C n mpa/iies Act. 2013 (V) indepandenl DlreclorsDeclaration

AH Ine independent Piir&Ctora have g •,*n rhei- dec iararion conferring that tiiey meet the criteria of Incenenderce in terms oi section I40ffi) o* the fior-penies Act,, 2013 T'ne Innepmdem D actor? have compiled whh the Corte tor rdepend&m Directors nrescribsri n Schedhie 'Ý,' to lhe Act. The ndependgnt Directors hive .= sc cdfflpied with n Code si Cornfud for Directors and Senior Management Personnel

m) Ccimrni ssi-on

Etfecytive Director end V. Ido :nie Direoton were not in Tenen: Ji! any Cutorti r.sior tmm rhe crr-mpa ny, Execute Directs e nd 'ÝÝtihole rime Di -ncior wier^ nr. 11 n receml rrf any oom missi-.'in irnm ^ vibsidi =iiy fha’s in no subsidiary)

Kay Moruigc merit PdraonncE (1) Ap pal ntm: ni

0 Mr. Eunay Krtstlffla Kha un, EjiaCirJve O'rtCdur, '.uasn-SO jinLod As Chic' Rnandfll OHiMr (CFO) wi:h eftsd ^Jram 30-05-2Q-23 d j6 to rtri^riiiiLii u1 V f Swap An '-.u.tiA' Dj.- ^vtic ncs cnec 't th efteol r™ O'l ^r.^-2<jZ3 I lo is a ciual l-od ESC (Co-jr.i. hi'Cv F rar-cc': More thin 7 Yecr^ a ESt(wrt»m3B i ?,lar^J-:-3Lir-.^. ul ^,TA'ia and Appiid KLe>;. I Is rj i'j o^acutivs j rector of the company and o Ihe i-'ie. rnbsr j_d,ji_: Lcnu nhae. I le ha'j geiriad vaer BTpdfitnCa in fusparalldn And v' iJ idtior¹ u^: Liicu-Li itt, dnd o-t:16r day day apftraS'jnA ,iattor cflirir l Ii S i-Sr".- With tflS curnpany. . In retiui ov' Ivtj 21 .(JT^nsid je topt«OCCllpat‘onwlf nltierAfa r; -j'thepaflipal^

in Mb Sun: I FAidri ,'l-us appo rfet Ch ?l -hd lo-al r.M'icer jCFO) W^:hi ei lev. fro n 21 D7-2Q2i d-jo- to fflS q hilklfi H Mr ®unay KrishnaKhaisan wtiu rwignadvrith effaci r.'m 21-07-2C23. l ie ii a Graduate Inaatnirmlma'airitlhwt r-iL>raLhan Mb' deuddeso' L^per t-rite n F-iriiir^e A&tra#iarid Ad. ^:iinbLrAl.un ir:Cjo,r so Includingtonaumercu atjlei

ih| Mr Ankll Sugandh 'Aas ippclritod =ie Comoiny dDC'eie'y-jrid Compliancfl Offlcarw Li a-toc! fruril 2' 07-2023 doe td Ý‘flsl jdailon -ir' Wi Ptad u Haida '.-Vtto resigned tvl'Jri nffeot (bum 14-D5-2023 l Rl is J/nrrbsr of The fnsSM'Jlb of Comdariy SuetMarlB* is! India.

Iv) Due b Rati gnatfori of Mr. Anhii SugsruJh, Ccmpany Sacra:j'y j-id Cumo u-ilc Officer of ihs to --.piiny. Mr Mr Chandra

Nsiih Banarjea (r-(JS025&) hda aoen appointed jj ira Company Sflciists^andCoffl'fHlaneftOfileiroflha Cornpany with erfset frcrri lDth Augost, 2024 M' OhanCra Ne.l.i 0Btrerje« is a commerce Graduate. Me is a Fel oV,¹ Memucr of the uwlliiuto of Cor.ipuny SfccrelarCB vf Indii having i;;Ei-.bcrsrilp humbeias FSB5S. hie haa vast expciit-ricri haccauntsi ^nd campany few iriast erstdf nridrt than Stlyaafs

(fit FtBstgnHtlofi

r Mr. SwBpan Kumar Das rBeidnedon22-G3-2fl23agChief Financial Officer {CFO) milh BttscfffDm'Cff -Q4-2CI23 which was taken on recurs) at the netting hrid ori GO-K-aflsa, The Board noted Its appreciation for his guidance during his tenure as Chief Financial Officer (CFQ)-

ii) Mr. Predtp Hsfcerresigneo on as Company Secretary £ Ccmplsnce Officer with effect from 1 ^1 -&5-SC‘-S3 wnncti

was iaken on record Bitfis meeting he'd on 30-05-2023. The Board noiEO its sy, n'EmBticn. Inr his guidance during histenuiB B5 Company Secretary SCpmpJiance Officer

lie Mr, Surrey Krishna Khgitan resigned B5 Chief FinancierOfficer (CFO) witheFedfram 2L-07-3023 which WB5 taken on record

EifriB meelinp he'd on 21-07-2023. Ths Board noted its Bppreciatipn for his guidance during his tenure as Chisf Financial Officer (CFO).

turn Ý v"t ..uhki : . ii £Ý. us .'-di. gag ^: ’ S'L

iv) Mr. Ankll Sugandh neeigned With atract from LH-fl/-:20£a as Crunpeny Secretary 4 Com alienee Officer which was taftan on record althe meeting field on 1 U-M-2024. The Basrd noted ita anDrechSitinn tor h is guidance during his tenure as C emoinv Secretary & GumplisncB Officer.

Dlroetoi's rcfircfrtorrt by nitrtl on

Mr, Sunay Krishna Khaitan, Wfrale tlme Dlreciur designated as Executive Chairman (DfN;075B5Cf7Di wtruhJ iatlre by rotation and being eligible, offers the: nseluea far re-appalnimEnt.

Coruervattcm er Energy. Technology Absorption and Foreign Exchange Earning ft outgo.

The Infirtmaftcr on StuiEaryefion of energy, laehflulugy absorption and foreign exchange aamlngs and otilga stipulated under section 194(3}(md of the Companies Act, £013 read wilh Rule 9 of the Com pen iea (Accuuni) Ru^iiOi 4 Is annexed esAmesura - I

information of Employees

Provision of Section 137 of the Companies Act, aOf-3 read wifh Rules 5(2) and (3) of Companies (Appointment and Remuneration of iitananBriaJ Personnel) tuIes, 2014 are not applicable as no Employee cr director el Vis Company wes receipt of such remuneration as dreserUMd under fria saldrulas.

The Company f.siSeYesltiat Ira employees are a vital resource In the cuitwii business environment. The Company is Bfifaylng good and congenial Industrie) relations at all the Division of the Company. The preaenped information of (h? emptoyeea required unoer section 1 j4(3!-:g) road tviftl Rule-5 of trie Companies (Appointment and Re-nun- jriL u'i j( Managerial pBrSonnal) fkllee 2014 t£ attached n*re with asAnncxure-fl

Establishment of Vigil Mechanism Policy

To ensure that the activities of (he Company and ita employees are conducted in a fair and transparent manner by adopting high standards of prciBasionalisrn, honesty, integrity, tfiB company has adopted a ykjil mechanism policy. This policy is B>:n;ainad in Corporate Governance and also posted on Con-oariv's website www. it haitsnsugar.l n

Development and Implementation o f Risk M anagtm«nf Policy

Tho Company has adopted risk management policy which covens assessment of various rhsk. impactin g the business of ihs company. The oplfcy ewers If timework to Identify, evaluate and mitigate business risk. The Risk Mertegement Policy has been uploaded on the website

Of the Company tfftWi.ktiattan&uger in Remuneration Policy

The Beard has on tha recommendations of Nomination fi Remuneration Cornmiftee framed b poiicy of selecticn I appuinlrTtent ?* Director. Senior Management Personal and thtfr remui raraLlun policy te staled In Corporate Governance Repo rt.

Directors' Report Responsibility Sbdemenl

Directors respotisl Dlllty slatemanL pursuani to section 134(a) |cf of the Companies Act, 2013 is attached as Annexura - til Business Re sponslbJIHy Reporting (BRRf 6RR ic nut applicable on the company.

Pclaled Party Ttanaacllons

All Transactions entered into wlh related parties as defined under the Companies Act, 2013 and Regulation 33 to the SEBl (Listing OPIi^atiDns and Disraqsure Rrr-ngirecnBntB) Ftegulelior 2315_; during the fi nansiel yder were ip (he ordinary CDurpe cf busirtase ond on prm'5 lertgvi basis. All related party ti^nsaefidns Eire placed before the audit CommittiM arid afaoltte Soard tar approval. Particulars of contracts or arrangemenl with reiafed parttpg letemeri lo In sub section of Steeflonf M have been in the prescribed form AOC-2 as Arnexure -4V

Change In the nature olbuelnesa

There has been no chHbge in tfie nature of business of the Company during the year under review

Disclosure ftetmirettienls For Certain Types CH Agre*mams Binding Listed Emilies Under Regulation 30A<2) of Listing

Regulations

Trer-e are nt>-agree me-nts entered into cy IheS’i&renr.ilderF.. pmmnrers, pre-moter group entities re ered jja,rti^.-., d reel .11-5, key menagerie SBrSorcnol, smp oyeptdf the Company, atfidng L itniSeiveu di w : 1 the Cffltfflp&LriySt v> thS til-u jiity, Soie ya lOiirdJy. ivhioh, elth.m d'^rBd‘j

Ý H' ndEretfBy or pptentiaByi t W v-se purpose; and eStdctls 11. Impacittia managernei'i or oernrui ot lh* CaunpBny or Impose ar-y restriction on: nefltegny¹ ani ity .jpor-ths and 1.ib^_e a e nn rrstF:¹ a dUpartufe-s.

C h angc IrtHx 1 Ý am re of bus Ire es

There nar.oeen no nhanije inine rri 'BatbisirEssofthaCfiftipeny dutfr^theiyeerteider revievi Procc Bdfng pending unde r Hi c [ngalirenCy an d Bankruptcy Cod a, £016

There ennpiDCBadirit} bend ng LHidiJf tha rei vendyand BeriKtliptcy Code,20t6diltingtheyssf Undert^&w*

Onetime sGlticmcnl Urttfi anyB-srik or Financial Institution

There was rtp Instance of Miaflme gmlement with any Bank or Financial Institution during dre y&sr under revtt'it Statutory Auditors Auditors and ALrttl I Report

Mi's.. K.C. BtvattachurjM £ Rau;, Chartered A.ectnjntflfita', (Rwg. Hu. SCiMEBE} nave t-aen appointed au l ie Statutory Auditors of Llie Companyut he 63rd Annual Uer-sr.il MfMtlrfg hei-ttpn 35 ;n September, 2020In-a ner.od of E yeari.tHIBath Annual rior-erel MeoLing

T bn DufinJ Has 0 uly SWrV I'Gd tinis iitstu Lory And; tot's Report 1o Firvar-niai SLanomei 11 3ie reply Of ille men Ý egemen; in regard to qualiftcatidn n Lhi.SuU.Lu- 5 repu-'l Is j.- foilaws:-

Ý Sugar dv.sion is one of Lhe co:e bus ness diviii-nrts j- ilia Cptnpany Tne nunugem-shi is j¹ :l ,e vSevi th;it as aou-n us the 1 equina merit ul Au-king ciprtm needed rur norm ng ine uperui.-uns Ý.s dr'ango-d Iris opsriitibn shall no 1 esc min I Lirtlvsr the uindy an lent is uop&lul I’Ilj; In trture be-:uLiSB utvarteiLiS measures t: tvisaga-d the posHonts Expected toringruve. Therefore lur ill* lime be.hg the manage? .edt his not eonsl^tsed the jotiness of Sugar Division di disco n.iriLcd opersllor uno :s tnflsldsred as s, going concern

Foss Paid le Auditors

Trial fear ns r jy 'h-R Cnmnanv. tp Me bld :o idur no the vaa.' hiVP-?l)SJ er.^ ?023-^r

SEcrotanal Auditor

Sooratorial Audit and Annual Certificetton

^r uni.ji.n: Lc-riE provisions ? I Sec! ior .lOH ? f In ? CcmpanesAc ,20" 3 and The COmpan BSfAppoin neril nr: ⁼.u nun si el an cT '^,^ar=QB^,is ³ersur it-, Fu es 2&H, CS Alpsie settila lACSMd fS7SB, CJf? kto . 503-5. cesr RB-"'e..y No.2&50/2C22I a jj^mpany 5pi.--E.ary-ir -PrEiC.lce. Ý.--as aco-jinLed :d urcertane '.i'iB 3a:re:s.rii-i A jci Tn-n Fufi-r -it of the Seoietaiial An : to- Liong '.i Bl the HltifioatBol r'-ci-d^:-s;: ,ja Ifldalron Of ?i-Btlois foi Inuyear Endeo 'darc-o 5l, 2Q2'¹ is anneiiBd hereivi'.t - as Anne sure -VI

The ojE-n'icat Lns therair s-iBie-t-ev.p a la.oiy and manage^ie-nl siesponse sa-sc-s-avered therein..

Internal Auditors

You Corn pel -y i bt house Internal audit department cames out interna audits aciPSi all tPcatiamit 1he dOurrty. Their ObjBdTive is So assess the e^istonTa, adoouacy olid OpBralfarl ot nnra-iL: ol a,nd apE-j.' ig dfl.ritrtils selup by tne Cbrnoeny and to ensure conio lanoe n'ltnthe Coi-p-dniEeAct, 201 3, 5EGI (Using Obligatidiis & CisSldSure RedLireiherls) RegL ii.ionS_r 201S dtnd ddrpfrrale polic es. fhtBmal .Add LsrS Ýak'.' ptHsontafioretBth# AucfltCcmm tueo un their AudhRepwtsAmrwlswod by tin Audi: CpmnjttB*.

Co si Auditors

ASEL-garmill CdLild noi Start upeditu’i during 11*ytiar,CpetiuditpatriotLatlduCtsd Subsidiary Company and Joint Venture I he Company doasnf have any su-ae u-ary and / 0.- Joint venture.

Material Changes and! Comm i I mofii AfToctlng Fin-ehctai Position Of Bl* Company

There ttre nmsLertal changes iirsd comm imenL ifieotng r.rtArii-iii; position of Ihe Pempisrty whieh has oeeurted ^ttv/eeri the and of f1iranclaly«ai Ý. ftfietumpany la 31 si Marcti, 2Q2- and Ul the Ji.ta l^lI repuT.

O selesure under (tie Sexual HarjHmwit cl Women ilWurkplacc

The Company has In fHnce a policy In line wim the requirements otthe Sexual H arassment of Women at Workplace (Prevention, PnohibHlon A Redresssll Art. 2013 Interna! Complaints. Commutes ilCCj has bean seJ up 1o redress idmplalnls received regarding sexual harassment. AH employees (pemnenem. contractual, trainees) are covered under inns Policy. During they ear under review, no complaints war* received.

Internal Financial Control* with Fteferenw to Financial Statement

The company has adequate financial control procedures GormmensurawteHh its sue and nature of business, the company has idenimed and documented bH key internal financial control which Impact the financial statements, as a part of Its Standard Operating Procedure (SOP). The SOPs are designed tor all critical processes across afl branches wherein tnancial transactions are undertaken.

Significant and material orders passed by Ute Regulators or Courts

There are-no significant materiel orders passed by tha regulHlora/court which would Impact the gukig concern status of the company and eft future ope'dlions

Particulars of Employees

Disclosures pertaining to remuneration and nthor particulars as Described under Ire provisions of Section 197 of the Act read with Rule = cl the Companies (Appointment and Remuneration of Managerial P'ei’sonnel) Rules, 20i 4, are set out in Annexure [II and forms part of this Report,

Code of Conduct

The Company has laid down a robust. Code cf Business CondUdt end ethics, which Is di red an the principles of ethics, integrity aim transparency.

General

* The Directors have devise proper systems to Ensure compliance with the provisions or ail applicable Setrefarieil Slendards and fh&‘- such syelEJins ere adequate and operating eftecti vely.

* During the year, no revision wae mode in Ihe previous finenciel statement of Ihe Company,

* Certain statement in the Boards Report defending the Company's objectivae, projeoiens. estimates, expectations pr predictions may pa tarwgrd-looking sttf amente within the meani ng of B&plicBtote securities law? ano i eg ufistioni. Actual results could differ from thosB Expressed Dr implied. Impnrtgnl (actors lhat could make a difference tc the Company's operations includeIpcoprand mgtBfiniavarBbirity, and prices, cyclical demand end priding inthe Company's punctual markets, changes in government leg uiataons, tax, regimes, economic developmentvrithin India and other incident factors,

Acknowledgement?

Vdur Directors wish to express their sincere appreciation tar the co-apernlian received from thE financial irssfcfutims, banks, gnvemmenr autoDri-Jes, customers, vendors, suppliers and shaiafioldars during the year under review. Vbur Directors also wish to place on record their deep a apse Of appraciafion tarthe significant contribution madB by each & every employee of ihe Com pony

For and behalf of tl)B Board

Sunay Krishna Khattan

Place: Kolketa Executive Director

Bate: Sif August 2024 (Din: 07585070)