U. Y. Fincorp Ltd

To

The Members of

U. Y. Fincorp Limited

(Formerly known as Golden Goenka Fincorp Limited)

Your Directors have pleasure in presenting the 32nd Annual Report together with the Audited Accounts for the year ended

31st March, 2025.

1. FINANCIAL RESULTS

( in lakh)

2. OPERATIONS & BUSINESS ACTIVITIES

The key highlights of your Company's performance during the year under review are: i. Revenue from operation is 11,104.61 Lakhs as against 12,185.29 Lakhs in the last year. This represents a decrease of 1080.68 lakhs, or 8.87% for the said period. The company experienced a fall in the revenue from operations because the company made less sale of securities in comparison with the previous year. ii. Profit before taxation is 1,693.88 Lakhs as against 8,437.63 Lakhs in the last year.i.e., profit before tax decreased by 6,743.75 Lakhs (79.92% for the said period). The company's Profit before Tax has decreased due to decrease in the company's Total Income. iii. Net profit after taxation is 1,172.73 Lakhs as against 6,492.23 Lakhs in the last year. iv. The total assets is 34,484.14 Lakhs as against 32,715.58 Lakhs in the last year. During the year under review, your Company discloses Standalone Financial Results on a quarterly and yearly basis. The Financial Statements of your Company have been prepared in accordance with the applicable Accounting Standards notified under the relevant provisions of the Companies Act, 2013, as applicable.

The key driver to growth in today's scenario requires higher operating efficiency, sustainability, customer satisfaction, improving capabilities and exploring new market. For the purpose of diversification your Company is engaged in the expansion of its business of consumer loan. The Board of Directors of the Company approved expansion of business operations into newer loan segments under the New Brand name “GrowU.Money”. After GrowU has received positive response in the areas of and Kanpur and Lucknow, it is now inter alia expanding further into central and eastern Uttar Pradesh covering Prayagraj, Varanasi, Sonbhadra, Ayodhya, Deoria and Gorakhpur regions. The Company had also entered into various Business Correspondent Agreements for expansion of its business. The Company has also digitalized the onboarding disbursement process of small ticket sized Loan with the monthly run rate of approx Rs. 100 Lakhs with an interest rate ranging between 24-33% p.a.

“GrowU.Money”, founded with the mission to democratize financial access, has consistently focused on providing innovative financial solutions to individuals and businesses. From its inception, the company has embraced cutting-edge technology to offer services such as personal finance management, investment advisory, and secure digital transactions. This commitment to innovation has not only attracted a broad customer base but also garnered significant investor interest.

During the year under review, the Board of Directors at its meeting held on 3rd May, 2024 inter alia considered and approved the proposal of opening of the Company's new branch office at Lucknow for the purpose of expansion of its business operation in the area of Lucknow under the brand name “GrowU.Money”.

The Board of Directors of the Company at their meeting held on 9th April, 2025, inter alia considered and approved the contractual joint venture agreement dated 9th April, 2025 entered into by the Company with Fintech Cloud Private Limited (FCPL) for expansion of its business into the field on small ticket size Personal and Business Loan under its new brand name “FUNDOBABA”. The Company agrees to invest in expansion of its business into the field on small ticket size Personal and Business Loan under its new brand name “FUNDOBABA” under its own NBFC license and the same will be managed by FCPL.

The Company is directly operating across 3 States i.e. West Bengal, Uttar Pradesh and Maharashtra through our branch network under the branding of GrowU.Money, and through collaboration with Fintech Cloud Private Limited (FCPL) under FUNDOBABA branding. The financing product primarily includes: (i) corporate loans, (ii) micro-enterprise loans (business loans); (iii) personal loans, (iv) loan against property. The Company had disbursed loan to more than 3,800 customers, across more than 2 Customer Locations in Uttar Pradesh, through its network of 2 branches, & 6 Business Correspondents.

For investors, the Company represents a promising opportunity. The company's consistent growth, innovative approach, and robust financial health make it an attractive proposition. As the fintech & NBFC industry continues to evolve, the Company is well-positioned to leverage its strengths and deliver sustained value to its shareholders.

Under the guidance of Mr. Udai Kothari, being the Managing Director of the Company, we are planning for an Automate tech platform for Mobile based loan for instant credit and entered into the new segments of financing like equipment financing, corporate tie-up and Instant Credit.

Over the past few years, the Reserve Bank of India (the RBI) has been steadily implementing technology to deepen and broaden financial services in India. Considering the same, your Company intends to expand into financial market segment and capitalize the set up for the same along with increasing capacity as required by the business. The outlook of the business is very exciting and we take it as an opportunity to do something unique and exceptional.

A detailed review on the operation and performance of the Company and its business is given in the Management Discussion and Analysis Report. The same is enclosed as Annexure - 1 to this Report.

3. DIVIDEND

The Directors of your Company do not recommend any dividend for the financial year ended 31st March, 2025 in order to plough back the resources for future growth.

4. DEPOSITS

The Company is a non-deposit taking Non-Banking Financial Company and therefore is not accepting any public deposits during the year.

5. LISTING OF SHARES

During the year under review, the equity share of the Company continues to be listed on The BSE Limited and The Calcutta Stock Exchange Limited. The Equity Shares of the Company was listed and admitted to dealings on the main Board of National Stock Exchange of India with effect from 3rd October, 2024. The Calcutta Stock Exchange (CSE) vide their letter dated 16 July, 2025 having Ref No. CSE/LD/DL/6860/2025 granted voluntary Delisting of equity shares of the Company from CSE w.e.f. 17th July, 2025.The Company has paid the Annual Listing Fees to the aforesaid Stock Exchanges for the financial year 2025-26.

6. INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

In compliance with the provisions of Sections 124 and 125 of the Companies Act, 2013 read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 ('IEPF Rules') as amended from time to time, the Equity Shares in respect of which dividend w.r.t. the financial year 2012-2013 remains unclaimed / unpaid for seven consecutive years or more, are required to be transferred to the Demat Account of the IEPF Authority. The company is in process of transfer underlying Equity Shares on which dividends remained unpaid or unclaimed for a period of seven consecutive years or more, to the Demat Account of IEPF Authority.

7. RESERVE BANK OF INDIA (RBI) GUIDELINES

Your Company continues to carry on its business of Non-Banking Financial Institution without accepting deposits. The Company has not accepted public deposits during the year under review. Further the Company has complied with and continues to comply with all the prudent financial management norms and directions issued by Reserve Bank of India as applicable to it including Fair Practices, Anti Money Laundering and Know Your Customer (KYC) Guidelines. Disclosures as prescribed by Non-Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015 and other applicable NBFC Regulations have been made in this Annual Report.

8. SHARE CAPITAL

The paid up equity share capital as on 31st March 2025 was 9,511.92 Lakhs. There was no public issue, rights issue, bonus issue or preferential issue etc. during the year. However, the Company has received in-principle approval from the BSE Limited and NSE Limited both dated 15th July, 2025 under Regulation 28(1) of SEBI (LODR) Regulations, 2015 for the proposed private placement of equity shares face value of Rs. 5/- each, total amount to be raised not exceeding Rs. 50 Crores through Qualified Institutional Placements.

The Company has neither issued shares with differential voting rights, sweat equity shares nor has it granted any stock options.

9. DIRECTORS' RESPONSIBILITY STATEMENT

In terms of the requirement of Section 134 (3) (c) of the Companies Act, 2013 your Directors state that : a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; b) they 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 at the end of the financial year and of the profit of the Company for that period; c) they 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; d) they have prepared the annual accounts on a going concern basis; e) 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; and f) they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

10. CORPORATE GOVERNANCE

Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Report on Corporate Governance along with certificate of compliance from M/s SB Sheth & Associates, Company Secretaries confirming compliances to the conditions of the Corporate Governance is enclosed as Annexure - 2 to this Report.

All Board members and Senior Management personnel have affirmed compliance with the Code of Conduct for the year 2024-25. A declaration to this effect signed by the Managing Director/CEO of the Company is contained in the Corporate Governance Section forming part of this Report.

The Managing Director/CEO and CFO have certified to the Board with regard to the financial statements and other matters as required under Regulation 17(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

11. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The Company is a Non-Banking Financial Company and therefore information relating to Conservation of Energy and

Technology Absorption are not applicable.

The Company has neither earned nor used any foreign exchange during the year under review.

12. KEY MANAGERIAL PERSONNEL

During the year, the shareholders of the Company at the 31st Annual General Meeting of the Company held on 30th September, 2024 considered and approved the re-appointed of Mr. Udai Kothari (DIN:00284256) as Chairman & Managing Director of the Company for a period of 3 (three) years commencing from 2nd May, 2025 at the remuneration and terms and conditions recommended by the Nomination and Remuneration Committee at its meeting held on 3rd September, 2024.

Except above, there was no change in the Key Managerial Personnel.

13. EXTRACT OF ANNUAL RETURN

Pursuant to the provisions of Section 134(3)(a) and Section 92(3) of the Act, as amended, read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the draft Annual Return of the Company for the Financial Year ended March 31, 2025 is available on the website of the Company at https://uyfincorp.com/storage/files/2/miscellaneous/annual-return/Draft%20MGT_7_Annual%20Return%202024-25.pdf .

14. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

Your Company is exempted from the applicability of the provisions of Section 186 of the Companies Act, 2013 (“the Act”) read with Rule 11 of the Companies (Meetings of Board and its Powers) Rules, 2014 and Companies (Meetings of Board and its Powers) Amendment Rules, 2015 as your Company is RBI registered Non-Banking Financial Company whose principal business inter-alia includes financing of companies.

Details of Loans, Investments, Guarantees or security in connection with loans to other body corporates or persons, as at the

end of the year are given in notes to the Financial Statements.

15. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION

The Board of Directors of the Company at their meeting held on 9th April, 2025, inter alia considered and approved the contractual joint venture agreement dated 9th April, 2025 entered into by the Company with Fintech Cloud Private Limited (FCPL) for expansion of its business into the field on small ticket size Personal and Business Loan under its new brand name “FUNDOBABA”. The Company agrees to invest in expansion of its business into the field on small ticket size Personal and Business Loan under its new brand name “FUNDOBABA” under its own NBFC license and the same will be managed by FCPL.

Except above there is no such material change and commitment affecting the financial position of your Company which have occurred between the end of the financial year of your Company to which the financial statements relate and the date of the Report.

16. MEETING OF THE BOARD AND AUDIT COMMITTEE

The Board meets at regular intervals to discuss and decide on policy and strategy apart from other Board business. During the year, seven Board Meetings and five Audit Committee Meetings were convened and held. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and any amendment thereof. The details regarding Board and Audit Committee Meetings are given in the Corporate Governance Section forming part of this Report. .

17. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SECTION 143(12)

During the year under review, there were no frauds reported by the auditors to the Audit Committee or the Board under section 143(12) of the Companies Act, 2013.

18. SECRETARIAL STANDARDS OF ICSI

During the Financial Year 2024-25, the Company has complied with all the relevant provisions of the applicable Secretarial

Standards issued by the Institute of Company Secretaries of India.

19. SUBSIDIARY COMPANIES/ ASSOCIATE COMPANIES/ JOINT VENTURES

Your Company does not have any subsidiary during the period under review.

Further the Company is having one associate namely M/s Purple Advertising Services Private Limited (Purple) with 33.33% shareholding. The Associate company is under the process of liquidation w.e.f. 18th May, 2022. As per the provisions of Section 129(3) of the Companies Act, 2013 (“the Act”) read with Rule 5 of the Companies (Accounts) Rules, 2014 as amended by the Companies (Accounts) Amendment Rules, 2016, a separate statement containing the salient features of the financial statements of the Subsidiary Companies/ Associate Companies/ Joint Ventures is prepared in Form AOC-1 and the same is enclosed as Annexure 3 to this Report.

20. CONSOLIDATED FINANCIAL STATEMENTS

During the period under review, the Company is having one associate namely M/s Purple Advertising Services Private Limited (Purple) with 33.33% shareholding, financial of which is not available and hence the same has not been considered for the consolidation purpose. The Associate company is under the process of liquidation w.e.f. 18th May, 2022. As per the letter received from Liquidator of Purple, during the period of liquidation process no quarterly/annually financial are required to be filed. Till the time we did not get the financial of the associates Company, we will not be able to consolidate its results with our financial results, hence same has not been considered for consolidation purpose.

21. AUDITORS AND AUDITOR'S REPORT

A. Statutory Auditors

In compliance with Section 139 of the Companies Act, 2013 read with Rules made thereunder, M/s B Nath & Co., Chartered Accountants (Firm Registration Number 307057E) were appointed as the Statutory Auditors of the Company to hold office for a term of 5 (Five) years from the conclusion of 30th Annual General Meeting held on 30th September, 2023 until the conclusion of the 35th Annual General Meeting of the Company, at a remuneration to be determined by the Board of Directors of the Company and reimbursement of out of pocket expenses as may be incurred by them during the course of the Audit. The observations of the Auditors when read together with the relevant notes to the accounts and accounting policies are self- explanatory.

B. Secretarial Auditor

Pursuant to the provisions of Section 204 of the Act, read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Listing Regulations, the Board of Directors have appointed M/s Prateek Kohli & Associates, Company Secretaries as Secretarial Auditor to conduct Secretarial Audit of the Company for the financial year ended on March 31, 2025.

Secretarial Audit Report issued by M/s Prateek Kohli & Associates, Company Secretaries in Form MR-3 is enclosed as

Annexure - 4 to this Report.

There is no reservation, qualification or adverse remark contained in the Secretarial Audit Report. Information referred in

Secretarial Audit Report are self-explanatory and don't call for any further comments.

Furthermore, upon the recommendation of the Audit Committee, the Board of Directors in its meeting held on May 22, 2025, appointed M/s. Prateek Kohli & Associates, Company Secretaries (Firm Registration No. P2017WB059700), as the Secretarial Auditors of the Company to hold office for a term of 5 (five) consecutive years commencing from financial year 2025-26 till financial year 2029-30, subject to the approval of shareholders, at the ensuing 32nd Annual General Meeting, in terms of the Listing Regulations read with SEBI Circulars, Section 204 of the Act and Rules thereunder.

22. RISK MANAGEMENT

The Company manages risk through a detailed Risk Management Policy framework which lays down guidelines in identifying, assessing and managing risks that the businesses are exposed to. Risk is managed through appropriate structures that are in place at U. Y. Fincorp Limited, including suitable reporting mechanisms.

Further kindly refer to the write-up in the Section Management Discussion and Analysis Report.

23. PARTICULARS OF EMPLOYEES REQUIRED UNDER SECTION 197(12) READ WITH RULE 5 OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014 AND COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) AMENDMENT RULES, 2016

The prescribed particulars of remuneration of employees pursuant to Section 197(12) read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016, are set out as Annexure -5 to this Report.

24. STATEMENT ON DECLARATION GIVEN BY THE INDEPENDENT DIRECTOR UNDER SUB SECTION (6) OF SECTION 149 OF COMPANIES ACT, 2013

All the Independent Directors of your Company have submitted a declaration at the time of their appointment and also annually that they meet the criteria of independence as laid down under Section 149(6) of the Act and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. All requisite declarations were placed before the Board.

25. DIRECTORS

During the year, the shareholders of the Company at the 31st Annual General Meeting of the Company held on 30th September, 2024 considered and approved the appointment of Mrs. Sangeeta Singh (DIN: 10757696) as a Non-Executive, Independent Director of the Company, not liable to retire by rotation, for the term of five consecutive years commencing from 12th November, 2024 to 11th November, 2029.

Further the shareholders of the Company at the 31st Annual General Meeting of the Company held on 30th September, 2024 considered and approved the re-appointed of Mr. Udai Kothari (DIN: 00284256) as Chairman & Managing Director of the Company for a period of 3 (three) years commencing from 2nd May, 2025 to 1st May, 2028 at the remuneration and terms and conditions recommended by the Nomination and Remuneration Committee at its meeting held on 3rd September, 2024. During the year under review, Mrs. Leena Hinesh Jobanputra (DIN: 06975039) an independent director of the company had tender her resignation due to completion of second and final tenure of appointment w.e.f. 12th November, 2024. The Board places on record its high appreciation of the valuable service rendered by Mrs. Jobanputra during her tenure as Independent Director of the Company.

Further Mr. Govind Kumar Goyal (DIN: 02466348) an independent director of the company had also tender his resignation due to completion of second and final tenure of appointment w.e.f. 24th July, 2025. The Board places on record its high appreciation of the valuable service rendered by Mr. Goyal during his tenure as Independent Director of the Company. In accordance with the provisions of Section 152 of the Companies Act, 2013 and your Company's Articles of Association, Mr. Dinesh Burman (DIN: 00612904) retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment. The information as required to be disclosed under Regulation 36(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in case of re-appointment/appointment/change in designation of the director is provided in the Corporate Governance Section forming part of this Report.

26. CHANGE IN THE NATURE OF THE BUSINESS, IF ANY

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

27. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS/COURTS/TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND YOUR COMPANY'S OPERATIONS IN FUTURE

During the year under review, there were no such orders passed by the regulators / courts / tribunals impacting the going concern status and your Company's operations in future.

28. BOARD EVALUATION

In compliance with the requirements of the provisions of Section 178 of the Companies Act, 2013 read with Rules framed thereunder and provisions of Schedule IV to the Act as well as the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, your Company has carried out performance evaluation for the Board of Directors, Committees of the Board and Individual Directors on the basis of participation of directors, quality of information available, quality of discussions, contributions and decision making etc. The overall performance of the members of the Board was found satisfactory. The manner in which the evaluation is carried out has been explained in the Corporate Governance Section forming part of this Report.

29. PARTICULARS OF CONTRACTS/ARRANGEMENTS WITH RELATED PARTIES

All transactions entered into with Related Parties as defined under the Companies Act, 2013 and Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 during the year were in the ordinary course of business and on an arms' length basis and do not attract the provisions of Section 188 of the Companies Act, 2013. Approval of the shareholders was already obtained for the related party transactions vide ordinary resolution dated 30th September, 2022. However, pursuant to the provisions of Regulation 23 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, prior approval of the Audit Committee was sought for entering into the Related Party Transactions. Further, the Audit Committee granted omnibus approval for repetitive transactions to be entered into with the related parties, during the year. The Audit Committee reviews all related party transactions on a quarterly basis. In terms of Regulation 34(3) read with Part A of Schedule V to the Listing Regulations, the details of the transactions entered into by the Company with promoter/ promoter group, which hold(s) 10% or more shareholding in the Company are given in the Notes to the Financial Statements.

A Policy on the Related Party Transactions has been devised by your Company for determining the materiality of transactions with related parties and dealings with them. The said Policy is available on your Company's website www.uyfincorp.com and a web link to the said Policy has been provided in the Corporate Governance Section forming part of this Report.

30. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

Kindly refer to the write-up in the Section Management Discussion and Analysis Report.

31. VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has established a Vigil Mechanism / Whistle Blower Policy for directors and employees to report to the management instances of unethical behavior, actual or suspected, fraud or violation of the Company's code of conduct or ethics policy, if any.

The Policy is also available on the Company's website and the web link of the same is:

https://www.uyfincorp.com/_Frontend_Assets/images/pdf_docs/UYFL-WB-Policy.pdf

32. POLICY ON PREVENTION OF SEXUAL HARASSMENT

The Company is committed to provide a safe and conducive work environment to its employees and has formulated Policy on

Prevention of Sexual Harassment of Women at Workplace in accordance with The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 to prohibit, prevent or deter any acts of sexual harassment at workplace and to provide the procedure for the redressal of complaints pertaining to sexual harassment. An Internal Complaints Committee (ICC) has been set up to redress complaints.

During the financial year ended 31st March, 2025, the Company has not received any Complaints pertaining to Sexual Harassment.

33. NOMINATION AND REMUNERATION COMMITTEE

During the financial year 2024-25, one Nomination and Remuneration Committee Meeting was held on 03.09.2024. The Composition of the Committee has been provided in the Corporate Governance Section forming part of this Report. The terms of reference of the Committee are wide enough to cover matters specified for the Committee under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Section 178 of the Companies Act, 2013.

The Company's Remuneration Policy has been provided in the Corporate Governance Section forming part of this Report

34. CORPORATE SOCIAL RESPONSIBILITY

In terms of Section 135 and Schedule VII of the Companies Act, 2013, the Board of Directors have constituted a Corporate Social Responsibility (CSR) Committee and on the recommendation of the said committee, the Board has approved a Corporate Social Responsibility ('CSR') policy and the same has been uploaded in the website of the Company www.uyfincorp.com which contains the CSR activities being carried out by the Company, governance structure, implementation process, etc.

The Company believes that CSR is a way of creating shared value and contributing to social and environmental good. Company's strategy is to integrate its activities in community development, social responsibility and environmental responsibility and encourage each business unit or function to include these considerations into its operations.

Your Directors are pleased to inform that the Company has fulfilled its CSR obligations pursuant to Section 135(5) of the Companies Act, 2013, for the year 2024-25 inter-alia on CSR projects in the areas of right to education. The details on CSR activities as prescribed under Companies (Corporate Social Responsibility Policy) Rules, 2014 are provided as Annexure - 6 and forms part of this Report.

The Policy is also available on the Company's website and the web link of the same is:

https://www.uyfincorp.com/_Frontend_Assets/images/pdf_docs/UYFL_CSR-Policy.pdf

35. GENERAL DISCLOSURES

Your Directors state that: i) No proceedings are pending against the Company under the Insolvency and Bankruptcy Code, 2016. ii) The Company serviced all the debts & financial commitments as and when they became due and no settlements were entered into with the bankers. iii) The Company does not have any Employee Stock Option Plan.

36. ACKNOWLEDGEMENTS

Your Directors would like to express their grateful appreciation for the excellent support and co-operation received from the Banks, RBI, SEBI, MCA, Registrar and Share Transfer Agents, Registrar of Companies, Stock Exchanges, Depositories, Customers, Business Associates, Members and other Stakeholders during the year under review. Your Directors also place on record their deep appreciation for the valuable contribution of the employees at all levels for the progress of your Company during the year and look forward to their continued co-operation in realisation of the corporate goals in the years ahead.