Atam Valves Ltd

Dear Members,

Your Directors have the pleasure of presenting their Fortieth (40^th) Annual Report together with the Audited Financial Statements for the year ended March 31, 2025.

FINANCIAL RESULTS

In compliance with the provisions of the Companies Act, 2013 (‘Act'), and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations') the Company has prepared its standalone financialstatements for the FY 2024-25. The highlights of the standalone financial results of the Company for the FY 2024-25 and FY 2023-24 are as under:

(Amount in Lakhs except earnings per share)

Revenue from Operations for the year ended 31st March 2025 is Rs. 6050.01 lakhs as against Rs.

5259.75 lakhs in the corresponding period of financial year,

EBT for the year ended 31st March 2025 is Rs. 851.81 Lakhs as against Rs. 802.96 Lakhs in the corresponding period of the previous year, representing a decrease of 6.09%.

Net profit for the year ended 31st corresponding period of the previous year, representing decrease of 8.01%.

EPS of the Company for the year ended 31st March 2025 stood at Rs. 5.50 as compared to Rs. 5.21 in its previous year.

During the year under review, your company has done a very remarkable financial result and of above Rs. 6050.01 lakhs for the first time in its history after completing 39 years. Due to increase in manufacturing, sales and trading sales and simultaneously increase in conversion activities during the year, the revenue from operations is increased by

15.03% from Rs. 5259.75 lakhs in previous year to Rs. 6050.01 lakhs during the present financial year 2024-25.

We as an organization remain vigilant to the ground developments with confidence and optimism to manage emerging scenarios.

The Company is committed to its vision to emerge as an efficientproducer of Valves in the secondary market. The Company is also focused on increasing capacity utilization of all units, improving product-mix, reducing operating costs, launching new products and improving operational efficiency with technology upgradation.

During the year, the board, based on the company's performance , the directors are also pleased to recommend for your consideration and approval for payment of final dividend of Rs. 0.85/- per equity share of face value of Rs. 10/- each for the financialyear 2024- 25. The final dividend on equity shares, if approved by the members would involve a cash 97,43,550/-. Pursuant to regulation 43A of the SEBI listing regulations, a dividend distribution policy is available on the company's website viz https://www.atamvalves.in .

The Company's Authorised Share capital during the financialyear ended 31st March, 2025, remained at Rs.15,00,00,000 comprising of 1,50,00,000 shares of Rs. 10/- The paid up equity share capital as on March 31, 2025 stood at Rs. 11,46,30,000/- comprising of 1,14,63,000 shares of Rs. 10/- each fully paid shares.

Details in regards of reserves have been disclosed in financial statements of the .

The company has not accepted any deposits from public and as such, no amount on account of principal or interest on deposits from public was outstanding as on the date of the balance sheet as per section 73 and 76 of the Companies Act, 2013 read with

Companies (Acceptance of Deposits) rules, 2014.

Appointment/Re-Appointment

The composition of the Board of Directors and its Committees, viz., Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee are constituted in accordance with Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR), wherever applicable. As on March 31, 2025, the Company has Eight Directors comprising of Four Executive Directors including 1 Women Director and Four Non-Executive Independent Directors including 1 Women Independent Director.

(i) Appointment and Re- appointment of Mr. Gaurav Jain, Independent Director

Appointment of Mr. Gaurav Jain (DIN: 08845759) was made on the board in the board meeting held on February 28, 2024 to fill the casual vacancy caused by sudden demise of Mr. Ravi Bhushan Jain. This appointment was approved by members in Postal ballot dated August 18, 2024 for a term upto next Annual General Meeting. Subsequently Mr. Gaurav Jain (DIN: 08848759) was reappointed as Non-Executive Independent Director of the Company for a further term of 05 (five) years commencing October 1, 2024 to September 30, 2029 (both days inclusive). This reappointment was approved by the Board of Directors in the board meeting held on September 4, 2024 and was subsequently approved by the members at the Annual General Meeting held on September 30, 2024.

(ii) Re-appointment of Mr. Amit Jain, Managing Director

During the year, Mr. Amit Jain (DIN: 01063087) was reappointed as Managing Director of the Company for a further period of Five (05) years with effect from September 7, 2024 to September 6, 2029 (both days inclusive). This reappointment was approved by the Board of Directors in the board meeting held on September 4, 2024 and was subsequently approved by the members at the Annual General Meeting held on September 30, 2024.

(iii) Re-appointment of Mrs. Pamila Jain , Wholetime Director

During the year, Mrs. Pamila Jain (DIN: 01063136) was reappointed as Wholetime Director of the Company for a further period of Five (05) years with effect from September 7, 2024 to September 6, 2029 (both days inclusive). This reappointment was approved by the Board of Directors in the board meeting held on September 4, 2024 and was subsequently approved by the members at the Annual General Meeting held on September 30, 2024.

(iv) Re-appointment of Mrs. Rajni Sharma, Independent Director

During the year, Mrs. Rajni Sharma (DIN: 08510736) was reappointed as Non-Executive Independent Director of the Company for a further term of 05 (five) years commencing October 1, 2024 to September 30, 2029 (both days inclusive). This reappointment was approved by the Board of Directors in the board meeting held on September 4,

2024 and was subsequently approved by the members at the Annual General Meeting held on September 30, 2024.

(v) Re-appointment of Mr. Surinder Kumar Salwan ,Independent Director

During the year, Mr. Surinder Kumar Salwan (DIN: 08510741) was reappointed as Non-Executive Independent Director of the Company for a further term of 05 (five) years commencing October 1, 2024 to September 30, 2029 (both days inclusive). This reappointment was approved by the Board of Directors in the board meeting held on September 4, 2024 and was subsequently approved by the members at the Annual General Meeting held on September 30, 2024.

Retirement by Rotation

Mr. Amit Jain (DIN: 01063087) retires by rotation and being eligible, offers himself for re-appointment

A resolution seeking shareholders' approval for his re-appointment along with other required details forms part of the

Notice.

Independent Directors

In terms of Section 149 of the Act and the SEBI Listing Regulations, Mrs. Rajni Sharma, Mr. Parminder Singh, Mr. Surinder Kumar Salwan and Mr. Gaurav Jain are the Independent Directors of the Company as on date of this Report. All Independent Directors of the Company have given declarations under Section 149(7) of the Act, that they meet the criteria of independence as laid down under Section 149(6) of the Act and Regulation 16(1)(b) of the SEBI Listing Regulations. In terms of Regulation 25(8) of the Listing Regulations,theIndependentDirectorshaveconfirmedthat they are not aware of any circumstance or situation, which exists or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgement and without any external influence. In the opinion of the Board, the Independent Directors possess the requisite expertise and experience and are persons of high integrity and repute. They fulfil the conditions specified in the Act as well as the Rules made thereunder and are independent of the management.

Key Managerial Personnel

In terms of Section 203 of the Act, the Key Managerial Personnel (‘KMPs') of the Company during FY 2024-25 were:

1. Mrs. Pamila Jain, Wholetime Director and Chief Financial Officer (CFO).

2. Mrs. Natisha Choudhary, Company Secretary & Compliance

3. Mr. Amit Jain, Managing Director

4. Mr. Vimal Parkash Jain, Wholetime Director cum Chairman

5. Mr. Bhavik Jain, Whole-Time Director

The Company's Policy on Directors' appointment and remuneration and other matters provided in Section 178(3) of the Act (salient features) has been briefly disclosed hereunder and in the Report on Corporate Governance, which is a part of this Report as Annexure-I.

Selection and procedure for nomination and appointment of Directors

The NRC is responsible for developing competency requirements for the Board based on the industry and strategy of the Company. The Board composition analysis reflects in-depth understanding of the Company, including its strategies, environment, operations, financial condition and compliance requirements. The NRC conducts a gap analysis to refresh the Board on a periodic basis, including each time a director's appointment or re-appointment is required. The NRC reviews and vets the profilesof potential candidates vis-a-vis the required competencies, undertakes due diligence and meeting potential candidates, prior to making recommendations of their nomination to the Board.

Criteria for determining qualifications, positive attributes and independence of a

In terms of the provisions of Section 178(3) of the Act, and Regulation 19 of the SEBI Listing Regulations, the NRC has formulated the criteria for determiningqualifications,positive attributes and independence of Directors, the key features of which are as follows:

1. Qualifications - The Board nomination process encourages diversity of thought, experience, knowledge, age and gender. It also ensures that the Board has an appropriate blend of functional and industry expertise.

2. Positive Attributes - Apart from the duties of Directors as prescribed in the Act, the Directors are expected to demonstrate high standards of ethical behaviour, communication skills and independent judgement. The Directors are also expected to abide by the respective Code of Conduct as applicable to them.

3. Independence - A Director will be considered independent if he/she meets the criteria laid down in Section 149(6) of the Act, the Rules framed thereunder and Regulation 16(1)(b) of the SEBI Listing Regulations.

The Directors affirm that the remuneration paid to Directors, KMPs and employees is as per the Remuneration Policy of the

Company.

The said policy is also available on the Company's website URL: https://www.atamvalves.in/wp-content/uploads/Atam_Valves_ Limited_Nomination_Remuneration_Policy.pdf .

The Committees of the Board focus on certain specific areas and make informed decisions in line with the delegated authority. The following Committees constituted by the Board function according to their respective roles and defined

Audit Committee

Nomination & Remuneration Committee

Stakeholders' Relationship Committee

Details of composition, terms of reference and number of meetings held for respective committees are given in the Report on Corporate Governance, which forms a part of this Report. Further, during the year under review, all recommendations made by the various committees have been accepted by the Board.

The Board of Directors met 14 (Fourteen) times during the year and the maximum interval between two meetings did not exceed 120 days. The intervening gap between the meetings was within the period prescribed under the Act and the SEBI Listing Regulations. The details of the number of meetings of the Board of Directors including meetings of the Committees of the Board (Audit Committee, Nomination & Remuneration Committee and Stakeholders Relationship Committee) held during the financial year 2024-25 also form part of the Corporate Governance Report.

Audit Committee

The composition, terms of reference and meetings of the Audit Committee are disclosed in the Corporate Governance section of the Annual Report. The Audit Committee of the Board acts in accordance with the terms of reference, which is in compliance with the provisions of Section 177 of the Companies Act, 2013 (Act) and Regulation 18 of SEBI Listing Regulations and other applicable provisions of SEBI Listing Regulations, as amended from time to time.

Statutory Audit

"M/s J. C. ARORA & ASSOCIATES, Chartered Accountants (Firm Registration No. 012880N) are the Statutory Auditors of the Company and have conducted the statutory audit for the Financial Year 2024 25. They were appointed as Statutory Auditors of the Company at the 39th Annual General Meeting held during the financial year 2023 24, to hold office for a term of five consecutive years, i.e., from the conclusion of the 39th AGM until the conclusion of the 44th AGM of the Company, in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder.

The Statutory Auditor's Report does not contain any qualifications, reservations, adverse remarks or disclaimers

Secretarial Audit

Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors has appointed M/s P.S. RALLY & ASSOCIATES, a firm of Company Secretaries in Practice to conduct the Secretarial Audit of the Company for the year ended March 31, 2025. The Report of the Secretarial Audit is annexed herewith as Annexure-II. The Secretarial Audit Report does not contain any qualification, reservations, adverse remarks and disclaimer. Pursuant to amended provisions of Regulation 24A of the SEBI (LODR) Regulations and subject to your approval being sought at the ensuing AGM the M/s. P.S. RALLY & ASSOCIATES, Company Secretaries, Jalandhar (CP No. 5712; Peer Review Unit No. 3644/2023) has been appointed by the Board as Secretarial Auditors of the Company to undertake the Secretarial Audit of your Company for the first term of five (5) consecutive years from FY 2025-26 till 2029-30. Secretarial Auditors have confirmed that they are are eligible to hold office as Secretarial Auditor of your Company. Brief details of M/s. P.S. RALLY & ASSOCIATES,

Company Secretaries, are separately disclosed in the Notice of ensuing AGM.

Internal Audit

Pursuant to the provisions of Section 138 of the Companies Act, 2013, read with the Companies (Accounts) Rules, 2014, the Board of Directors has appointed M/s SOHAN & ASSOCIATES, Chartered Accountants (Firm Registration No. 029391N), as the Internal Auditor of the Company to conduct auditing of the financial and other related records of the company and to furnish internal audit report (s) for the Financial Year 2024-25. Their scope of work includes review of processes for safeguarding the assets of the Company, review of operational and processes, review of statutory and legal compliances with applicable statutes / laws and assessing the internal

. Internal Auditor findings controlstrengthsinalltheseareasincludingfinancial are discussed with the process owners and suitable corrective actions taken as per the directions of the Audit Committee on a regular basis to improve efficiency in operations. The Internal Auditor reports directly to their performance scope, functioning, periodicity and methodology for conducting the internal audit, has taken into consideration their confirmation to the effect that their infrastructure viz., internal audit structure, staffing and seniority of the officials proposed to be methodology for conducting the internal audit.

Reporting of Frauds by Auditors

During the year under review, the Statutory Auditors, the Secretarial Auditors and Internal Auditors have not reported to the Audit Committee, under Section 143(12) of the Companies Act, 2013, any fraud committed against the company by its officers or employees, the details of which would need to be mentioned in the Board's Report.

During the financial year under review the company has no subsidiary/associate & Joint Venture Company and as a result no consolidated financial statements have been prepared.

During the year, the company has not transferred any amount to Investor Education and Protection Fund (IEPF). Further in terms section 124(6) read with Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (IEPF Rules), as amended, the company has not transferred any number of equity shares to the demat account of Investor Education and Protection Fund.

The brief outline of the Corporate Social Responsibility (‘CSR') Policy of the Company and the initiatives undertaken by the Company on CSR activities during the year in the format prescribed in the Companies (‘CSR Policy') Rules, 2014 are set out in Annexure V of this Report. The CSR Policy is available on Company's website at URL: https://www.atamvalves.in/investor-relations/ .

The requirement for Business Responsibility and Sustainability Reporting is not applicable for the year under review to the

Company since it does not fall under the top 1,000 listed companies based on market capitalization.

Pursuant to Regulation 34 of the SEBI Listing Regulations, ReportonCorporateGovernancealongwiththecertificatefrom a

Practicing Company Secretary certifying compliance with conditions of Corporate Governance is annexed to this Report.

The details of familiarisation program for Independent Directors have been disclosed in the policies section of the website of the Company and available at the web link: Atam_Valves_Limited_Familiarization_programme_of_Independent_directors.pdf

(atamvalves.in).

The company implemented suitable controls to ensure its operational, compliance and reporting objectives. The company has adequate policies and procedures in place for its current size as well as the future growing needs. These policies and procedures play a pivotal role in the deployment of the internal controls. They are regularly reviewed to ensure both relevance and comprehensiveness and compliance is ingrained into the management review process.

Adequacy of controls of the key processes is also reviewed by the internal audit team. Suggestions to further strengthen the process are shared with the process ownersandchangesaresuitablymade.Significantfindings, along with management response and status of action plans are also periodically shared with and reviewed by the audit committee. It ensures adequate to be appointedas internal financial SecretarialAuditorand control exist in design and operation.

M/s SOHAN & ASSOCIATES was the internal auditor of the company for the F.Y 2024-25 who conducted internal audit and submitted reports to the audit committee. The internal audit is processed to design to review the adequacy of internal control of the company's operations. The audit committee reviews the effectiveness checksin thesystemandcoversallsignificant of the company's internal control system.

Pursuant to the provisions of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015, the Board carried out an annual performance evaluation of its own performance, the individual Directors as well as the working of the Committees of the Board.

The evaluation process inter alia considers attendance of Directors at Board and committee meetings, acquaintance with business, compliance with code of conduct, vision and strategy, which is in compliance with applicable laws, regulations and guidelines. The performance evaluation of the Independent Directors was carried out by the entire Board. The performance evaluation of the Chairman and the Non- Independent Directors was carried out by Independent Directors. The Directors were satisfied the overall engagement of the Board and its Committees with the Company. Details of the same are given in the Report on Corporate Governance annexed hereto.

The company has a duly framed risk management policy as required under SEBI listing regulations. The Board of Directors oversees the risk management process including risk identification, impact assessment, effective plans and risk reporting.

The company faces constant pressure from the evolving marketplace that impacts important issues in risk management and threatens profit margins. The company emphasizes on those risks that threaten the achievement of business objectives of the group over the short to medium term. Your company has adopted the mechanism for periodic assessment to identify, analyse, and mitigate the risks.

The appropriate risk identification method depends on the application area, the nature of the project, the project phase, resources available, regulatory requirements and client requirements as to objectives, desired outcome and the required level of detail. All the senior executives have the responsibility for over viewing management's processes and which results in identifying, assessing and monitoring risk associated with organization's business operations and the implementation and maintenance of policies and control procedures to give adequate protection against key risk of the company.

Further, in carrying out the risk management processes, the senior executives of the company consider and assess the appropriateness and effectiveness of management information and other systems of internal control, encompassing review of the external auditor's report to management on internal control and action taken or proposed resulting from those reports.

The risk management and internal control systems within the organization encompass all policies, processes, practices and procedures established by management and/ or the board to provide reasonable assurance that:

Established corporate, business strategies and objectives are achieved ;

Risk exposure is identified and adequately monitored and managed ;

Resources are acquired economically, adequatelyprotected effectivelyin efficientlyand managed carrying out the business financial,managerial and operating information is accurate, relevant, timely and reliable and Significant

There is an adequate level of compliance with policies, standards, procedures and applicable laws and regulations.

The company promotes ethical behaviour in all its business activities and has put in place a mechanism for reporting illegal or unethical behaviour. The company has a vigil mechanism and whistle blower policy under which the persons covered under the policy including directors and employees are free to report misuse or abuse of authority, fraud or suspected fraud, violation of company rules, manipulations, negligence causing danger to public health and safety, misappropriation of monies, and other matters or activity on account of which the interest of the company is affected. The reportable matters may be disclosed to the vigilance officer who operates under the supervision of the audit committee. Persons covered under the policy may also report to the chairman of the audit committee.

During the year under review, no employee was denied access to the chairman of the audit committee. No complaints were received under vigil mechanism & whistle blower policy during the financial year 2024-25

The Company has neither given any loans or guarantees nor made any investment during the year under review. The overall limit is within the powers of the Board as applicable to the Company in terms of the applicable provisions of the Companies Act, 2013.

In line with the requirements of the Act and the SEBI Listing Regulations, the Company has formulated a Policy on Related Party Transactions. The Policy can be accessed on the Company's website at https://www.atamvalves.in/wpcontent/uploads/Atam_Valves_Limited_Related_Party_Transactions_Policy.pdf .

During the year under review, all related party transactions entered into by the Company, were approved by the Audit Committee and were at arm's length and in the ordinary course of business. Prior omnibus approval is obtained for related party transactions which are of repetitive nature and entered in the ordinary course of business and on an arm's length basis. The company had not entered into any Contract/ Arrangements/ Transaction with related parties which is required to be reported in Form AOC-2 in terms of Section 134(3)(h) read with Section 188 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014. All related party transactions are mentioned in Note No.39 of the notes to the Accounts.

The Company has received the necessary declaration from each Independent Director in accordance with Section 149(7) of the Act and Regulations 16(1)(b) and 25(8) of the SEBI Listing Regulations, that he/she meets the criteria of independence as laid out in Section 149(6) of the Act and Regulations 16(1)(b) of the SEBI Listing Regulations.

In the opinion of the Board, there has been no change in the circumstances which may affect their status as Independent Directors of the Company and the Board is satisfied of the integrity, expertise, and experience (including proficiency in terms of

Section 150(1) of the Act and applicable rules thereunder) of all Independent Directors on the Board. Further, in terms of Section

150 read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014, as amended, Independent

Directors of the Company have included their names in the data bank of Independent Directors maintained with the Indian

Institute of Corporate Affairs.

As required to be reported pursuant to Section 134(3)(q) read with Rule 8(5)(ii) of Companies (Accounts) Rules, 2014, there is no change in the nature of business carried on by the Company during the financial year 2024-25.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE material orders Therearenosignificant passed by the Regulators or Courts or Tribunal, which would impact the going concern status of the Company and its future operation. However, Members attention is drawn to the Statement on Contingent Liabilities and Commitments in the Notes forming part of the Financial Statement.

The Company has devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards issued by the Institute of Company Secretaries of India and that such systems are adequate and operating .

Disclosures relating to remuneration of directors u/s 197(12) of the act read with Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed to this report as Annexure-IV. The Remuneration paid to all Key management Personnel was in accordance with remuneration policy adopted by the Company. Pursuant to Section 136(1) of the Companies Act, 2013, the report of the Board of Directors is being sent to the shareholders of the Company excluding the statement prescribed under Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

In accordance with section 134(3)(a) of the Companies Act, 2013 annual return of the company is available on the website of the company at https://www.atamvalves.in/investor-relations/.

The Management Discussion and Analysis Report for the financial year under review, as stipulated under the SEBI listing regulations, is presented in a separate section, forming part of this annual report.

There are no material changes affecting thefinancialposition of the Company subsequent to the close of the FY 2024-25 till the date of this Report.

Information in accordance with the provisions of section 134(3)(m) of the Companies Act, 2013, read with Rule 8 of the Companies (Accounts) Rules, 2014, regarding conservation of energy, technology absorption and foreign exchange earnings and outgo are under:

. Foreign Exchange Earnings and Outgo: details of Foreign Exchange earnings and outgo are duly mentioned in the balance sheet.

DIRECTOR'S RESPONSIBILITY STATEMENT systems ontheframeworkofinternalfinancial established and maintained by the Company, performed by the internal, statutory and secretarial auditors, including audit of internal controls over financial reporting the Statutory Auditors and the reviews performed by Management and the relevant Board Committees, including the Audit

Committee, the Board is of the opinion that the Company's internal financial controls were adequate and effective

2024-25.

Pursuant to section 134(5) of the Act, with respect to Directors' Responsibility Statement, the board of directors, to the best of its knowledge and ability, confirm that:

1. In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures.

2. The directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonableandprudent affairsof the company at the end of the astogive trueand view thestate financial year and of the profit of the company for that period.

3. The directors had taken proper and sufficient care for the with the provisions of companies act, 2013 and rules made thereunder for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.

4. The directors had prepared the annual accounts on a going concern basis.

5. The directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

6. The directors had devised proper system to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

The MD andCFOofthecompanyarerequiredtogiveannualcertificationon financial reporting and internal controls to the board in terms of Regulation 17(8) of listing regulation and certification on financial board in terms of Regulation 33 of listing regulation and same is also published in this report as Annexure-III. .Whilethe

The Company has always provided a congenial atmosphere for work that is free from discrimination, harassment and has provided equal opportunities of employment to all irrespective of their caste, religion, colour, marital status and gender. The Company believes that women should be able to do their work in a safe and respectful environment that encourages maximum productivity. The Company has a zero tolerance towards sexual harassment. The Company has adopted a policy on prevention of sexual harassment of women at work place and put in place proper dissemination mechanism across the Company. The

Company has carried out awareness programmes / sessions on the mechanism established under this policy, across its various locations. The Company has complied with the provisions relating to the constitution of Internal Complaints Committee (ICC) under The Sexual Harassment of Women at Workplace Prevention, Prohibition and Redressal) Act, 2013 (POSH), comprising of Presiding Officers the details of complaints received / resolved or pending are as under:

No. of complaints received during the financial year Nil

No. of complaints disposed of during the financial year Nil

No. of complaints pending as on end of the financial year

Name and address of the Stock Exchange, Scrip code and Status of fee paid for the financial year 2024-

The Company has complied with the provisions of the Maternity Benefit Act, 1961, including all applicable amendments and rules framed thereunder. The Company is committed to ensuring a safe, inclusive, and supportive workplace for women employees. All eligible women employees are provided with maternity benefits as prescribed under the Maternity Benefit Act, 1961.

The Company also ensures that no discrimination is made in recruitment or service conditions on the grounds of maternity.

The Company has not made any one-time settlement for loans taken from the Banks or Financial Institutions, 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.

Your Directors place on record their deep appreciation for the contribution made by the employees at all levels with dedication, commitment and team effort, which helped your company in achieving the performance during the year.

Your directors also acknowledge with thanks the support given by the government, bankers, members and investors at large and look forward to their continued support.