Shree Renuka Sugars Ltd

Dear Members,

In accordance with the Companies Act, 2013 ("the Act") and Rules framed there under and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), the Board of Directors ("the Board") of Shree Renuka Sugars Limited ("the Company") present their Twenty-Nineth Annual Report and Audited Financial Statements for the financial year ended 31st March 2025.

The highlights of the standalone financial results are as under:

(H in Mn.)

The Company achieved total income of H 104,240 Mn. (PY: H 108,981 Mn.) for the year ended 31st March 2025. The EBITDA (excluding foreign exchange loss) for the year under review stood at H 7,206 Mn. (PY: H 7,195 Mn.) while the Net Loss stood at H 2,558 Mn. (PY Net Loss: H 5,595 Mn.) i.e., reduction of 54% in Net Loss. Analysis of operating performance is covered under the Management Discussion and Analysis ("MDA") Report which forms part of this Annual Report.

There have been no material changes and commitments, which affect the financial position of the Company, that have occurred between the end of the financial year to which these financial statements relate and on the date of this Annual Report.

During the year under review, the Company did not undergo any change in the nature of its business.

There have been no material events that have occurred in the Company during the year under review except for the one mentioned under the head "Material updates about Subsidiary Companies" to which Shareholders can refer.

Since the Company has carried forward losses as on 31st March 2025, your Directors have not recommended any dividend for the financial year ended 31st March 2025. The Company has formulated the Dividend Distribution Policy which can be accessed on the Company's website at https://renukasugars.com/pdf/corporate-governance/dividend-distribution-policy.pdf.

During the year under review, your Company has not transferred any amount to the Reserves.

During the year under review, your Company has not accepted any deposits from the public within the meaning of Sections 73 and 74 of the Act and the Companies (Acceptance of Deposits) Rules, 2014.

The MDA Report on the business and operations of the Company is given in a separate section and forms part of this Annual Report.

As stipulated by Regulation 33 of the SEBI Listing Regulations, the Consolidated Financial Statements have been prepared by the Company in accordance with the applicable Accounting Standards. The Audited Consolidated Financial Statements together with the Auditors' Report thereon, forms part of this Annual Report.

Pursuant to Section 129(3) of the Act, a statement containing the salient features of the financial statements of each subsidiary, in the prescribed Form AOC-1 is provided in the financial statements forming part of this Annual Report.

Pursuant to Rule 8 of the Companies (Accounts) Rules, 2014, the highlights of performance of subsidiaries and their contribution to the overall performance of the Company during the period under review are provided in the notes to Consolidated Financial Statements forming part of this Annual Report. There was no material change in the nature of business of any of the subsidiaries during the year.

Pursuant to Section 136 of the Act, the Audited Standalone and Consolidated Financial Statements, and related information of the Company and accounts of each of the subsidiaries of the Company are available on the website of the Company at https:// renukasugars.com/financials/. These documents of the Company will be made available to the Shareholders for inspection electronically, upon request, up to the date of the ensuing Annual General Meeting ("AGM"). The Company will make available the documents of the subsidiaries upon request by any Shareholder of the Company interested in obtaining the same.

As on 31st March 2025, the Company has 5 subsidiaries (including 4 wholly owned subsidiaries). The Company does not have Joint Ventures (JVs) and Associate Companies (ACs) classified as such under the Act.

During the year under review, the following changes occurred in the Company's holding structure:

The Hon'ble National Company Law Tribunal, Bengaluru Bench vide its Order dated 22nd October 2024, has approved the scheme of merger of Monica Trading Private Limited, Shree Renuka Agri Ventures Limited & Shree Renuka Tunaport Private Limited ("Transferor Companies"), wholly owned subsidiaries of the Company, with the Company with an appointed date of 1st April 2022.

The merger became effective from 6th December 2024.

On 22nd November 2024, Renuka Commodities DMCC ("Renuka Dubai") (based out of Dubai), a wholly owned subsidiary of the Company sold its 17.12% stake in Shree Renuka Global Ventures Limited ("SRGVL") (based out of Mauritius), to Freeway Trading Limited at a consideration of USD 4,325. As a consequence of this sale by Renuka Dubai, SRGVL and its step-down subsidiaries ceased to be associates of the Company with effect from 22nd November 2024.

During the year under review, the Board revised the Policy for Determining Material Subsidiaries of the Company with effect from 11th February 2025 to align with the current laws and regulations. The Company's revised Policy can be accessed on the Company's website at https://renukasugars.com/pdf/corporate- governance/material-subsidiaries-policy.pdf.

Merger of subsidiary companies with the Company

The Board at their meeting held on 24th May 2022, had given an in-principle approval for Scheme of Merger of Monica Trading Private Limited, Shree Renuka Agri Ventures Limited and Shree Renuka Tunaport Private Limited, wholly owned subsidiaries of the Company, with the Company ("Transferee Company"). The National Company Law Tribunal (NCLT), Mumbai Bench approved the Scheme of Merger of the Transferor Companies with the Company and issued a certified copy of the Order which is filed in Form INC-28 with the Registrar of Companies, Mumbai (ROC).

The approval on the application filed with NCLT Bench at Bengaluru was received on 22nd October 2024, which become effective from 6th December 2024 consequent to the approval given by the Registrar of Companies, Karnataka to the Form INC-28 filed by the Transferor Companies and the Transferee Company.

As a result of this, the Transferor Companies were merged with the Company with effect from 6th December 2024.

*During the year, Equity Share Capital was increased due to the merger of the Company's wholly owned subsidiaries with the Company w.e.f. 6th December 2024.

During the year there was no change in the Issued, Subscribed and Paid-up Share Capital of the Company. There were no instances where the Company failed to implement any corporate action within the specified time limit. As on 31st March 2025, 99.88% of the total paid- up Equity Share Capital of the Company stands in dematerialized form.

Pursuant to the provisions of Section 152 of the Act, Mr. Ravi Gupta (DIN: 00133106), the Executive Director and Mr. Charles Loo Cheau Leong (DIN: 08737827), the Non-Executive Director of the Company, are liable to retire by rotation at the ensuing AGM and being eligible, offer themselves for re-appointment. The Board recommends their re-appointment at the ensuing AGM.

In accordance with Section 149 and other applicable provisions, if any, of the Act, the Companies (Appointment and Qualification of Directors) Rules, 2014, the SEBI Listing Regulations and pursuant to the recommendation made by the Nomination and Remuneration Committee and approval by the Board of Directors at its meeting held on 11th February 2025 and the Shareholders of the Company on 21st March 2025 through Postal Ballot, Mr. Seetharaman Sridharan (DIN: 01773791) and Mr. Siraj Hussain (DIN: 05346215) were re-appointed as the Independent Directors of the Company for a second consecutive term of 5 (five) years w.e.f. 9th August 2025. As per Regulation 17(1A) of the SEBI Listing Regulations, the Shareholders also approved continuation of Directorship of Mr. Seetharaman Sridharan (DIN: 01773791), as the Independent Director of the Company after him attaining the age of 75 years during his second term as the Independent Director.

The Board of Directors, on the recommendation of Nomination and Remuneration Committee, at their meeting held on 7th August 2025 appointed Mr. Dorab Mistry (DIN: 07245114) as the Independent Director of the Company with effect from 1st November 2025 for a term of 5 (five) consecutive years, subject to approval of the Shareholders. The Board recommends his appointment to the Shareholders at the forthcoming AGM. Accordingly, a resolution seeking Shareholders approval for the appointment of Mr. Mistry and also his continuation as the Independent Director on attaining the age of 75 years during his term, forms part of the Notice convening the ensuing AGM.

Dr. B.V. Mehta (DIN: 00895163), Independent Director of the Company will retire with effect from end of business hours on 12th November 2025, upon completion of his second consecutive term of five years as the Independent Director of the Company.

The Board places on record its deep appreciation for the invaluable contributions of Dr. Mehta to the proceedings of the Board and the Committees of which he was a member, during his tenure as an Independent Director.

The Shareholders can refer to the Notice of the AGM to get all required disclosures and details in respect of the Directors seeking appointment/re-appointment at the ensuing AGM.

The Company had 6 (six) Independent Directors on the Board during the year and as on 31st March 2025.

The Board is of the opinion that the Independent Directors of the Company possess requisite qualifications, expertise and experience and they hold the highest standards of integrity.

The Company has received the declarations from the Independent Directors of the Company confirming that:

a) they meet the criteria of independence as laid down under Section 149(6) of the Act and Regulation 16(1)(b) of SEBI Listing Regulations and there has been no change in the circumstances which may affect their status as an Independent Director and that they are not aware of any circumstance or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgment and without any external influence and that they are independent of the management; and

b) they have registered their names in the Independent Directors' data bank maintained by Indian Institute of Corporate Affairs in terms of Section 150 of the Act read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 . The Independent Directors have also affirmed that they have complied with the Company's Code of Business Conduct & Ethics and Code for Independent Directors prescribed in Schedule IV to the Act.

In accordance with the provisions of Section 2(51) and Section 203 of the Act read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the following are the KMP of the Company as on 31st March 2025:

Mr. Atul Chaturvedi, Executive Chairman

Mr. Vijendra Singh, Executive Director & Dy. CEO

Mr. Ravi Gupta, Executive Director

Mr. Sunil Ranka, Chief Financial Officer

Mr. Deepak Manerikar, Company Secretary

During the year under review, there were no changes to the KMP of the Company.

During the year under review, none of the Directors resigned from the Board of the Company.

None of the Directors are disqualified under Section 164 of the Act. Further, they are not debarred from holding the office of Director pursuant to the Order of the Securities Exchange Board of India ("SEBI") or any other authority.

The policy of the Company on Directors' and Senior Managements' appointment and remuneration including criteria for determining their qualifications, positive attributes, independence of a Director and other matters provided under Section 178(3) of the Act and the SEBI Listing Regulations is adopted by the Board. We affirm that the remuneration paid to the Directors and the Senior Management is as per the terms laid out in the Nomination and Remuneration Policy of the Company.

During the year under review, the Board has revised the Nomination and Remuneration Policy of the Company with effect from 11th February 2025 to align with the current laws and regulations. The revised policy can be accessed on the website of the Company at https://renukasugars.com/pdf/corporate-governance/nomination-and-remuneration-policy-amended-9-8-2022.pdf.

Pursuant to the provisions of the Act and the SEBI Listing Regulations, the Board has undertaken an evaluation of its own performance, the performance of its Committees and of all the individual Directors based on various parameters relating to roles, responsibilities and obligations of the Board, effectiveness of its functioning, contribution of Directors at meetings and the functioning of its Committees. Detailed questionnaires were circulated covering various parameters relevant for the evaluation of the Board and Committees. The performance evaluation of the Chairman and the Non-Independent Directors was carried out by the Independent Directors in their separate meeting. The Board expressed their satisfaction with the evaluation process.

The meeting of Independent Directors of the Company was held on 19th March 2025 to discuss matters as per the provisions of the Act and the SEBI Listing Regulations.

During the year under review, 4 (four) Board Meetings were held. For further details, please refer to the Report on Corporate Governance, which forms a part of this Annual Report.

The Committees of the Board focus on certain specific areas and make informed decisions in line with the delegated authority.

The following statutory committees are constituted by the Board, which function according to their respective roles and defined scope:

Audit Committee

Nomination and Remuneration Committee

Corporate Social Responsibility Committee

Stakeholders' Relationship Committee

Risk Management Committee

Details of composition, terms of reference, number of meetings held and other details for respective Committees are given in the Report on Corporate Governance, which forms a part of this Annual Report.

During the year under review, the Company has complied with all the mandated Secretarial Standards issued by the Institute of Company Secretaries of India.

To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors make the following statements in terms of Section 134(3)(c) of the Act:

that in the preparation of the annual accounts, the applicable accounting standards have been followed along with no material departures;

that the Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March 2025 and of the loss of the Company for the year ended on that date;

that the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

that the Directors have prepared the annual accounts on a going concern basis;

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

that the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

M/s. S R B C & CO LLP, Chartered Accountants (Firm Registration No: 324982E/E300003) were re-appointed as the Statutory Auditors of the Company at the 26th Annual General Meeting held on 16th September 2022, for a second term of five consecutive years to hold office from the conclusion of the 26th Annual General Meeting till the conclusion of 31st Annual General Meeting. The Report given by M/s. S R B C & CO LLP, on the financial statements of the Company for the financial year 2024-25 forms part of this Annual Report. There are no qualifications, reservations, adverse remarks or disclaimers given by the Auditors in their Report.

M/s. GDR & Partners LLP, Company Secretaries (Firm Registration No: L2024KR016500), were appointed as the Secretarial Auditors of the Company for a period of five consecutive years, commencing from FY2025-26 to FY2029-30, at the Board Meeting held on 7th August, 2025, based on the recommendation of the Audit Committee, subject to the approval of the Shareholders at the ensuing AGM of the Company. They will undertake secretarial audit as required and issue the necessary Secretarial Audit Report for the aforesaid period in accordance with the provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and amended Regulation 24A of the SEBI Listing Regulations. They have confirmed that their appointment complies with the eligibility criteria in terms of the SEBI Listing Regulations. The resolution seeking Shareholders approval for their appointment forms part of the Notice convening the ensuing AGM.

The Secretarial Audit Report issued by M/s. DVD & Associates,PracticingCompanySecretary(Membership No. F6055/ CP No. 6515) for the financial year 2024-25 confirms that the Company has complied with the provisions of the Act, Rules, Regulations and Guidelines and it does not contain any qualifications, reservations or adverse remarks or disclaimers except the instances of delay in filing of intimation/ announcement with the Stock Exchanges as mentioned in Point No. (v)(i) of the said Report. The Secretarial Audit Report is provided as Annexure I to this Report.

As per the requirements of the SEBI Listing Regulations, Secretarial Audit Report of Anamika Sugar Mills Private Limited ("ASMPL"), material unlisted subsidiary of the Company, issued by M/s.NAM & Associates, Practising Company Secretary is provided as Annexure II to this Report. The Secretarial Audit Report of ASMPL confirms that they have complied with the provisions of the Act, Rules, Regulations and Guidelines and it does not contain any qualifications, reservations or adverse remarks or disclaimers.

In respect of the Secretarial Auditors' comments in their Report dated 3rd July 2025 on delay in filing Outcome of Board Meeting held on 29th May 2024, and a few instances wherein there was delay in filing intimations of notices/penalties received by the Company under Regulation 30 of the SEBI Listing Regulations, your Directors would like to state that the Company is committed to comply with all the applicable laws and regulations, and has a robust mechanism to ensure compliance with the same. Serious cognizance has been taken of the delayed compliance reported by the Secretarial Auditors in their Report. All possible measures are being taken to ensure that the compliance mechanism is further strengthened to avoid any such non-compliances or delays in the future.

In respect of the delay in filing the Outcome of the Board Meeting held on 29th May 2024, inter-alia, for approval of the Financial Results, your Directors would like to clarify that the delay in filing was caused by internet connectivity issues resulting from technical glitches at the Company's end. This delay was due to factors beyond our control and hence purely unintentional and without any mala fide intention. It may also be noted that the Board Meeting concluded after trading hours on 29th May 2024 and hence there was no effect on the price of the securities of the Company due to late filing of the outcome. Furthermore, no unpublished price- sensitive information was disclosed prior to the filing of the outcome with the Stock Exchanges.

In respect of the delay in filing intimations of notices/ penalties received by the Company, your Directors would like to state that the delay was due to late receipt of the intimation from the concerned teams. This delay was purely unintentional and without any malafide intention.

The Board has appointed M/s. B. M. Sharma & Co, Cost Accountants, as the Cost Auditor to audit the cost records of the Company. The Board, based on the recommendation of the Audit Committee has approved their appointment, for conducting the cost audit for financial year 2025-26. The remuneration payable to the Cost Auditor is subject to approval by the Shareholders of the Company. Accordingly, a resolution seeking Shareholders approval for the remuneration payable to M/s. B. M. Sharma & Co, Cost Accountant for financial year 2025-26, forms part of the Notice of the ensuing AGM, along with relevant details, including the proposed remuneration.

In terms of Section 148 of the Act, read with Rule 8 of the Companies (Accounts) Rules, 2014, it is stated that the cost accounts and records are made and maintained by the Company as specified by the Central Government under sub-section 148(1) of the Act.

Reporting of frauds by auditors

During the year, the Statutory Auditor, the Secretarial Auditor and the Cost Auditor have not reported any instance of fraud committed in the Company by its officers or employees under Section 143(12) of the Act.

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo

Information pursuant to the provisions of Section 134(3) (m) of the Act and the rules framed thereunder relating to conservation of energy, technology absorption, foreign exchange earnings and outgo as per the Act, forms part of this Report and is annexed hereto as Annexure III.

In compliance with Regulation 34 read with Schedule V of the SEBI Listing Regulations, a detailed Report on Corporate Governance is given in a separate section which forms part of this Annual Report. A Certificate from the Practising Company Secretary confirming compliance with the conditions of Corporate Governance as stipulated under the SEBI Listing Regulations is appended to the Corporate Governance Report.

The information required under Section 197(12) of the Act read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is appended at Annexure IV.

The statement containing the particulars of the top ten employees and the employees drawing remuneration in excess of the limits prescribed under Section 197(12) of the Act read with Rule 5(2) and (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is given in Annexure IV forming part of this Report. In terms of the proviso to Section 136(1) of the Act, the Annual Report is being sent to the Shareholders and others entitled thereto, excluding the aforesaid statement. The said statement is available for inspection with the Company. Any Shareholder interested in obtaining a copy of the same may write to the Company Secretary at groupcs@renukasugars.com.

During the year under review, all transactions entered into with the related parties by the Company were approved/ratified by the Audit Committee and the Board. Certain transactions, which were repetitive in nature, were approved through the omnibus route. As per the SEBI Listing Regulations, any related party transaction exceeding H 1,000 crore or 10% of the annual consolidated turnover, as per the last audited financial statement, whichever is lower, is considered as material and requires approval of the Shareholders. Accordingly, the Company sought and obtained the necessary Shareholders approval for the year under review.

All Contracts/Arrangements entered by the Company during the financial year under review with related parties were on an arm's length basis and in the ordinary course of business except for certain Contracts/Arrangements that were on arm's length basis but not in ordinary course of business. Details of all Material Related Party Transactions entered into by the Company during the financial year 2024-25 are provided in Form AOC-2 annexed hereto as Annexure V. The details of transactions with related parties as required under Ind AS-24 and 2A of Schedule V of the SEBI Listing Regulations are given in notes to the financial statements.

During the year under review, the Board has revised the Policy on Related Party Transactions of the Company with effect from 11th February 2025 to align with the current laws and regulations. The revised policy can be accessed on the website of the Company at https:// renukasugars.com/pdf/corporate-governance/ revised-rpt-policy-feb2025.pdf.

Particulars of loans, guarantees given, securities provided, and investments made are provided in the notes to the standalone financial statements.

Your Company is committed to Corporate Social Responsibility (CSR) by catering to the needs of the weaker sections of society. However, since the Company has an average net loss for the three immediately preceding financial years, the requirement of CSR spending for the financial year 2024-25 was not applicable to the Company as per Section 135(5) of the Act. The CSR Policy of the Company can be accessed on the Company's website at https://renukasugars.com/ pdf/corporate-governance/policy-on-corporate-social-responsibility.pdf. The report on the CSR activities is appended at Annexure VI to the Board's Report.

Pursuant to the provisions of Section 124 of the Act, Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (‘IEPF Rules') read with the relevant circulars and amendments thereto, the amount of dividend remaining unpaid or unclaimed for a period of seven years from the due date, is required to be transferred to Investor Education and Protection Fund (IEPF), constituted by the Central Government. Further, all shares in respect of which the dividend has not been paid or claimed for seven consecutive years shall be transferred by the Company to IEPF.

Accordingly, the Company has transferred the entire amount of unpaid/unclaimed dividend remaining to be paid or claimed for seven consecutive years and the corresponding shares to IEPF in the previous years except an unclaimed amount of Rs.0.02 Mn. which is in dispute. Hence, during the year under review, no unclaimed/unpaiddividendamountandcorresponding shares were due to be transferred to IEPF.

The Shareholders whose dividend / shares have been transferred to IEPF, may claim the same by submitting an online application in Form IEPF-5 available on the website of IEPF (www.iepf.gov.in). The detailed refund procedure is also available on the website of the Company and can be accessed on https:// renukasugars.com/shareholders-service The Shareholders can find details of Nodal Officer of the Company at https://renukasugars.com/shareholders-service in "Contact Us" tab and the details of unclaimed/ unpaid dividends and equity shares transferred to IEPF at https://renukasugars.com/shareholders-service in "Unclaimed Dividend" tab.

Pursuant to Section 134(3)(a) and Section 92(3) of the Act, read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return of the Company in the Form MGT-7 for the financial year 2024-25 can be accessed on the website of the Company at https://renukasugars.com/financials/ annual-returns/fy-2024-25.pdf.

The Company has adopted a Risk Management Policy which is reviewed on a periodic basis in order to recognize, assess and reduce exposure to risks wherever possible, identify steps to mitigate risks and to identify risk owners for all types of risks.

The Company's Risk Management Policy is based on the philosophy of achieving substantial growth while mitigating and managing risks involved. The Company's internal control systems with reference to the financial statements are adequate and commensurate with the nature of its business and the size and complexity of its operations. Periodic audits and checks are conducted and the controls to prevent, detect and correct any irregularities in the operations have been laid down by the Company.

The details relating to the composition, powers, roles, terms of reference, number of meetings held, attendance at the meetings etc. of the Risk Management Committee are given in detail in the Corporate Governance Report, which forms part of this Annual Report.

Pursuant to the SEBI Listing Regulations and the Act, the Company has in place a Whistle Blower Policy/ Vigil Mechanism to deal with unethical behaviour, victimisation, fraud and other grievances or concerns of Directors, employees and stakeholders. The Whistle Blower Policy can be accessed on the Company's website at https://renukasugars.com/pdf/ corporate-governance/whistle-blower-policy.pdf. During the year under review, no complaints were received by the Company under the policy.

The Company has complied with the requirement of constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 ("POSH") and Rules made thereunder.

The following are the details of the complaints received under POSH during the year: (a) number of complaints of sexual harassment received in the year: Nil (b) number of complaints disposed off during the year: Not Applicable (c) number of cases pending for more than ninety days: Nil

Shree Renuka Sugars Limited (SRSL) has redefined its Human Resources function into a transformation catalyst - fuelling a shift from traditional operations to a purpose-driven, agile, and culturally aligned people strategy. We have moved beyond conventional frameworks to create a workplace where every employee feels empowered, engaged, and aligned with the organization's vision. By embedding technology into everyday HR interactions, we've fostered a culture of transparency, real-time responsiveness, and continuous improvement - deeply rooted in our values of Excellence, Passion, Ownership, Integrity, Speed, and Safety.

At the heart of this transformation is a conscious effort to build an inclusive, high-trust, and digitally enabled culture across all factory and corporate locations. From onboarding to performance management, every stage of the employee lifecycle is now designed to reflect clarity, fairness, and empowerment. Employees can now access intuitive platforms for self-service, performance feedback, and communication - enabling quicker decisions, deeper engagement, and data-backed workforce planning. Our efforts have once again been recognized with prestigious accolades, including certification as a Great Place to Work? for the second consecutive year, inclusion in the Top 50 Best Workplaces in Manufacturing, and listing among India's Best Workplaces™ in FMCG, backed by a 90% Trust Index? Score.

A notable highlight this year was the seamless integration of Anamika Sugar into the SRSL culture. HR led a comprehensive transition covering cultural immersion, value alignment, and people capability upliftment. The transformation included sensitization workshops for leadership, digitized people process, SOP standardization, and targeted skilling initiatives aligned with the operational / business needs. The change journey was further reinforced through cross-location mentorship, transparent communication, and continuous engagement - ensuring that Anamika's employees not only adapted but embraced the SRSL identity with confidence and pride.

Our focus on governance and compliance remains uncompromising. We confirm compliance with all applicable labour laws. All employees undergo structured training on POSH, Data Privacy, Anti-Corruption, & Business Ethics. We maintain a robust compliance framework, supported by Regular audits, Policy reviews, and Digital documentation, ensuring accountability and transparency across locations.

In parallel, we have amplified efforts toward inclusion, wellness, and sustainability - critical pillars in building a future-ready workforce. Our DEI programs are strengthening representation, while cultural events and Employee Resource Groups enhance connection and belonging. Over 37+ medical camps, digital health screenings, and our "Wellness Month" campaign have helped raise awareness and support mental and physical well-being. Additionally, we continue to adopt sustainable HR practices - minimizing paper usage through digitization, running green awareness drives, and promoting responsible workplace behaviour in line with our broader ESG commitments.

Through this Integrated approach - anchored in culture, enabled by systems, and guided by strong governance. SRSL is not just transforming but redefining what it means to be a people-centric, future-forward organization.

In terms of Regulation 34 and Schedule V of the SEBI Listing Regulations read with Circular No. SEBI/HO/ CFD/ CFD-SEC-2/P/CIR/2023/122 dated 12th July 2023, and Circular No. SEBI/HO/CFD/CMD-2/P/ CIR/2021/562 dated 10th May 2021, the Company has prepared the BRSR on the environmental, social, and governance disclosures, including BRSR Core consisting of Key Performance Indicators as on 31st March 2025 as stipulated under the SEBI Listing Regulations and the same can be accessed on the website of the Company at https://renukasugars.com/ shareholders-service/brsr-fy2024-25.pdf.

The Board confirms the compliance of the provisions relating to the Maternity Benefit Act, 1961 by the Company for the year under review.

Your Directors state that no disclosure or reporting is required in respect of the following events as there were no transactions that took place during the year under review.

Issue of equity shares with differential rights as to dividend, voting or otherwise.

Issue of shares (including sweat equity shares) to employees of the Company under any scheme.

Passing of significant or material orders by the Regulators or Courts or Tribunals which impact the going concern status and the Company's operations in future.

Pending application and/or proceedings under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year.

Any one-time settlement during the year, and hence, the 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 is not applicable.

Receipt of any remuneration or commission by the Whole-Time Directors of the Company from the Holding Company or Subsidiary Company of the Company.

Non-acceptance of Audit Committee recommendations by the Board during the year.

The Board wishes to place on record its gratitude for the assistance and co-operation received from the financial institutions, banks, government authorities, customers, vendors and cane growers and finally to all its Shareholders for the trust and confidence reposed in the Company. The Board wishes to record its sincere appreciation for the significant contributions made by employees at all levels for their competence, dedication and contribution towards the operations of the Company.