PATANJALI FOODS LIMITED

(Extracted from pages 214 - 231 of the Integrated Annual Report 2025-26)

Dear Members,

Your Board of Directors have pleasure in presenting the Fortieth (40th) Directors' Report together with the audited standalone and consolidated financial statements of the Company for the financial year ended March 31, 2026.

Financial Performance

The summarised financial performance highlight is presented in the table below:

Financial performance - Standalone

Your company has achieved a total income of ? 40,34,778.28 lakh during the year under review as against ? 33,89,068.88 lakh in the previous financial year representing an increase of 19.05%. The net profit after tax of the company for the year under review is ? 1,81,487.35 lakh as against ? 1,30,134.16 lakh for the previous financial year representing an increase of 39.46%.

The export of the company during the year under review was ? 18,777.22 lakh as compared to ? 22,877.24 lakh during the previous financial year. Exports declined due to intense competition in the international market and higher cost of Indian Soya Products in comparison to other international suppliers.

Financial performance - Consolidated

Your company has achieved a consolidated total income of ? 40,34,778.28 lakh during the year under review as against ? 33,89,068.88 lakh in the previous financial year representing an increase of 19.05%. The consolidated net profit after tax of the company for the year under review is ? 1,81,447.47 lakh as against ? 1,30,070.64 lakh for the previous financial year representing an increase of 39.50%.

Future Outlook

Your Company is set to consolidate the gains of its FMCG business, including the integrated Home and Personal Care (HPC) segment along with the edible oil businesses into a balanced and resilient growth engine. With the completion of first full year of HPC integration in FY26, the company's focus now shifts from consolidation to acceleration. The full integration with the parent business seamlessly supports the efficiencies and synergies thus paving way to deepening the HPC category strength. This will be achieved through product innovation, wider distribution reach and enhanced brand visibility across both urban and rural markets.

The Company continues to strategically expand capacity and reinforce its leadership in edible oils. As an industry front runner, it has clocked 1,10,000 hectares of Palm Plantation (as at end of March 2026) and is continuously expanding across 12 Indian states and directly enabling 75,000 farmers. It is a shining example of Govt. of India's 'National Mission on Edible Oils - Oil Palm (NMEO-OP)' meant to achieve greater self-reliance in edible oils. In the same spirit, 2022 Farmer Producer Organisations (FPOs) are supported by the company, a demonstrable case for the vision of Aatmanibharita or Self-Reliant India.

A healthy growth and improved profitability is expected across the portfolio. The edible oil business is likely to grow in line with underlying industry demand, supported by a stable consumption environment. The Foods portfolio growth is anticipated to outpace the core oils business. The margins are expected to improve gradually, led by normalization in Foods. The company expects efficiency gains in HPC and a supportive operating environment for edible oils.

The company will continue to be kept up its presence across General Trade, Modern Trade, E-commerce and emerging digital channels, ensuring greater consumer reach and market penetration across urban and rural India. Distribution will continue to remain a core pillar of the Company's growth strategy. The Company's direct retail footprint has already crossed over 2 million retail outlets, and this network expansion is expected to continue. Your Company is well placed to leverage its Ayurvedic heritage playbook. Premiumisation will serve as an anchor in scaling its presence in the alternate channels.

Export led initiatives across key geographies will remain a growth lever for Ayurveda-led natural product lines. Consistent with prior years, sustainability is a core aspect for the company as it focuses on energy efficiency, plastic neutrality, and responsible sourcing. Alongside, the renewable wind power assets are already supporting capacity energy needs. Over time, these initiatives are likely to strengthen operational resilience and improve resource efficiency.

Over the medium term, the Company continues to work towards a more equal revenue contribution between its oil and FMCG businesses, a structural shift intended to reduce earnings volatility and improve overall margin quality. To support this strategic transition, the Company remains focused on disciplined execution and long-term value creation. Equally important are the aspects such as the integrated business model, extensive distribution network, and diversified product portfolio. The focus is well distributed between navigating near-term challenges as well as capturing the long-term growth opportunities within the Indian consumption story.

With a disciplined approach towards capital allocation, continuous innovation, and consumer trust, Patanjali Foods has an unwavering commitment to sustainable value creation. The company is confident of strengthening its leadership position and delivering consistent long-term value to its consumers, farmers, employees, business partners, shareholders and the nation.

Transfer to Reserves

During the year under review, no amount is proposed to be transferred to reserves. For complete details on movement in reserves and surplus during the financial year ended March 31, 2026, please refer to the Statement of Changes in Equity included in the financial statements.

Dividend

The Board of Directors, at its meeting held on November 08, 2025, declared 1st Interim Dividend of ? 1.75/- (One Rupee and Seventy-Five Paisa only) per equity share of face of ? 2/- (Rupees Two Only) each fully paid-up, for financial year ended March 31, 2026.

Further after closure of financial year, the Board of Directors, at its meetings held on April 21, 2026 and August 14, 2026, declared 2nd and 3rd Interim Dividend of ? 1.75/- (One Rupee and Seventy Five Paisa only) and ? 1.50/- (One Rupee and Fifty Paisa only) respectively, per equity share of face value of ? 2/- each fully paid up, for financial year ended March 31, 2026.

The total dividend for the financial year 2025-26 including the interim dividend amounts to ? 5.00/- (Rupee Five only) per equity share having face value of ? 2/- (Rupees Two only) each fully paid-up. The tabular representation of the dividend recommended / declared for the financial year under review and the previous financial year are as follows:

* The Company has issued Bonus Shares in the ratio of 2:1 i.e. 2 (Two) new fully paid-up Equity Shares of ? 2/- (Rupees Two Only) each for every 1 (One) existing fully paid-up Equity Share of ? 2/- (Rupees Two Only) each to the eligible Shareholders of the Company. The dividend per equity share for the financial year 2024-25 is on pre-bonus equity share capital of the Company.

In terms of the provisions of the Income-tax Act, 2025 as amended by the Finance Act, 2020, dividend paid and distributed by a Company shall be taxable in the hands of the shareholders. Your Company has, accordingly, made payment of the interim dividend after deduction of tax at source, wherever applicable.

The dividend paid is in accordance with the parameters and criteria as set out in the Dividend Distribution Policy which has been approved by the Board of Directors of the Company. The Dividend Distribution Policy is available at the web link https://www.patanjalifoods.com

Subsidiary, Associate and Joint Venture Companies

[Content from page 216, preceding the section on "Change in Directors" - refers to GHI Energy Private Limited]

of GHI. However, GHI issued further equity shares on May 13, 2019 without consent of the Company as a result of which Company's equity shareholding in GHI reduced to 19.34%. On persuasion by the Company, GHI has filed a petition with Hon'ble National Company Law Tribunal, Chennai Bench ("Hon'ble Tribunal") for reduction of capital under section 66 of the Act. Accordingly, pending confirmation of the Hon'ble Tribunal of the aforesaid reduction of share capital of GHI, the Company continues to hold only 19.34% in GHI. Upon approval of the capital reduction by the Hon'ble Tribunal and such capital reduction, being effective, the paid-up share capital of GHI shall stand reduced to the extent of the shares so extinguished and the original shareholding of 49% by the Company in GHI shall stand restored.

Joint Venture

Ruchi J-Oil Private Limited, a joint venture, is under voluntary liquidation from August 21, 2018.

The investment of the Company in Indian Oil Ruchi Biofuels LLP, a Joint Venture, has been impaired in the books of accounts of the Company in the year 2018-19 as per the provisions of applicable Ind-AS.

Change in Directors and Key Managerial Personnel ("KMP")

Directors

During the year under review, the Board of Directors based on recommendation of Nomination and Remuneration Committee (NRC) at their meeting held on August 14, 2025, appointed Shri Durga Shanker Mishra (DIN: 02944212) as an additional Non-Executive Independent Director, not liable to retire by rotation for a term of three (3) consecutive years with effect from August 14, 2025 to August 13, 2028 and Shri Baghrai Majhi (DIN: 11125649), nominated by Life Insurance Corporation of India, as an additional Non-Executive Nominee Director of the Company, with effect from August 14, 2025, liable to retire by rotation. The same was also approved by shareholders of the Company at the 39th Annual General Meeting held on September 27, 2025.

Except above, there was no change in the composition of Board of Directors of the Company during the financial year under review.

As on March 31, 2026, following is the composition of the Board of Directors of the Company:

Key Managerial Personnel

There was no change in the Key Managerial Personnel of the Company during the financial year under review.

As on March 31, 2026, your Company has following key managerial personnel:

Statement on Declaration by Independent Directors

The Company has received necessary declaration from each of the Independent Directors confirming that he/she meets the criteria of independence as laid out in Section 149(6) of the Act read with the schedules and rules made thereunder and Regulation 16(1)(b) of the Listing Regulations. In the opinion of the Board, the Independent Directors fulfil the conditions specified in the Listing Regulations and in the Companies Act, 2013 and possess requisite qualifications, experience and expertise (including the proficiency) and hold highest standards of integrity.

Policy on Directors' Appointment and Policy on Remuneration

Pursuant to Section 134(3)(a) and Section 178(3) of the Act, the Policy on appointment of Board members including criteria for determining qualifications, positive attributes, independence of a Director and the Policy on remuneration of Directors, KMP and other employees is available at the web link https://www.patanjalifoods.com/wp-content/uploads/2024/11/Remuneration-and-Board-Diversity-Policy.pdf .

Particulars of Employees and Related Disclosures

As prescribed under Section 197(12) of the Act and Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the details are given in Annexure - 1.

A statement containing particulars of employees as required under Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 for terms of this Report. In terms of Section 136 of the Act, the Integrated Annual Report and financial statements are being sent to the shareholders excluding the aforesaid statement.

Number of Meetings of the Board

There were Sixteen (16) meetings of the Board of Directors held during the financial year under review. For attendance and other details, please refer to the Corporate Governance Report which forms part of this Integrated Annual Report.

Performance Evaluation of the Board, its Committees and Individual Directors

The annual evaluation process of the Board of Directors, individual Directors and Committees was conducted in accordance with the provisions of the Act and the Listing Regulations.

The Board evaluated its performance after seeking input from all the directors on the basis of criteria such as the Board composition and structure, effectiveness of board process, information and functioning etc. The performance of the Committees was evaluated by the Board after seeking input from the committee members on the basis of criteria such as the composition of committees, effectiveness of committee meetings etc. The above criteria are as provided in the Guidance Note on Board Evaluation issued by the Securities and Exchange Board of India.

The manner in which the evaluation has been carried out has also been explained in the Corporate Governance Report attached as an Annexure to this Integrated Annual Report.

The Company has put in place a policy containing, inter alia, the criteria for performance evaluation of the Board, its committees and individual Directors (including independent directors).

Directors' Responsibility Statement

Based on the framework of internal financial controls and compliance systems established and maintained by the Company, work performed by the internal, statutory and secretarial auditors including internal financial controls, financial reporting by the Statutory Auditors and the reviews performed by the management and the relevant Board Committee, the Board is of the opinion that the Company's internal financial controls were adequate and effective during financial year 2025-26.

Accordingly, as required under section 134(3)(c) read with section 134(5) of the Act, the Board, to the best of their knowledge and ability, confirm that:

a. in the preparation of the annual accounts for the financial year ended March 31, 2026, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b. such accounting policies have been selected and applied consistently and judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2026 and of the profit of the Company for the year ended on that date;

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

d. the annual accounts of the Company have been prepared on a going concern basis;

e. the internal financial controls were in place and that such internal financial controls were adequate and were operating effectively; and

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

Auditors and their Reports

Statutory Auditor

During the year under review, M/s. Chaturvedi & Shah LLP, Chartered Accountants (Firm Registration No: 101720W/100355) erstwhile/one of our Joint Statutory Auditor, vide their letter dated November 03, 2025, have tendered their resignation from the office of Joint Statutory Auditor of the Company with effect from November 03, 2025.

Pursuant to the above, M/s. Walker Chandick & Co. LLP, Chartered Accountants (FRN: 001076N/N500013), the other Joint Statutory Auditor of the Company, whose appointment was approved by the shareholders of the Company in the last AGM held on September 27, 2025, is continuing to act as the Statutory Auditor of the Company to hold office for a period of five (5) consecutive years from conclusion of 39th AGM till the conclusion of 44th AGM of the Company to be held in the year 2030, on such remuneration as may be recommended by the Audit Committee and mutually agreed between the Board of Directors and the Auditors plus out of pocket expenses as may be incurred.

M/s. Walker Chandick & Co. LLP, Chartered Accountants, have submitted their Report on the financial statements of the Company for the financial year ended March 31, 2026, which forms part of this Integrated Annual Report. There are no observations (including any qualification, reservation, adverse remark or disclaimer) of the Auditors in their Audit Report that may call for any explanation or comments from the Board of Directors of your Company.

Cost Auditor

The cost audit for the financial year 2025-26 was undertaken by M/s. K.G. Goyal & Co., Cost Accountants (Firm Registration No. 000017). Their report does not contain [any qualification/reservation/adverse remark - content continues on next page]

Regulation 23(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - One of the wholly owned subsidiaries of the listed entity had paid an advance to a related party without approval of the audit committee of the listed entity.

Explanation by the Board to the observations made in the Secretarial Audit Report

The amount of advance given on January 14, 2026 was received back on February 10, 2026 by the wholly owned subsidiary (WOS) from the related party. However, the Company has filed settlement application under SEBI (Settlement Proceedings) Regulations, 2018 to settle the matter of non-compliance with SEBI.

The Company has undertaken an Annual Secretarial Compliance Audit for the financial year 2025-26 pursuant to Regulation 24A(2) of the Listing Regulations. The Annual Secretarial Compliance Report for the financial year ended March 31, 2026 has been submitted to the Stock Exchanges and the said report may be accessed on the Company's website at the link https://www.patanjalifoods.com/wp-content/uploads/2025/06/3_Letter-to-SEs-Secretarial-Compliance-Report- 2025.pdf .

Internal Auditor

The Board appointed M/s GSA & Associates LLP, Chartered Accountants, as Internal Auditors of the Company for the financial year 2025-26. The Audit Committee considers and reviews the Internal Audit Report submitted by the Internal Auditors on a quarterly basis.

Details in respect of frauds reported by Auditors other than those which are reportable to the Central Government

During the year under review, the Statutory auditor, Cost Auditor, Secretarial Auditor and Internal Auditor of your Company have not reported any fraud to the Audit Committee or to the Board of Directors under Section 143(12) of the Act, including rules made thereunder.

Internal Financial Control Systems and their adequacy

The internal control systems include documented policies, checks and balances, guidelines and procedures, that are supplemented by robust internal audit processes and monitored continuously through periodical reviews by management to provide reasonable assurance that all assets are safeguarded and all transactions entered into by Company are authorised, recorded and reported properly.

Internal control systems are integral to the Company's corporate governance. The internal control systems and procedures are designed to assist in the identification and management of risks, the procedure-led verification of all compliance as well as an enhanced control consciousness.

The Board/Management are of the opinion that the Company has effective internal financial control systems and policies and such controls are operating effectively. The management is taking steps for further strengthening of internal financial controls.

The Board/Management has reviewed the internal control framework of the Company with an objective to have a robust internal control framework commensurate with the size, scale and nature of business of the Company. The management has initiated steps to implement the robust internal control framework. This framework includes entity-level policies, processes and Standard Operating Procedures (SOP).

The details relating to internal financial controls and their adequacy are included in the Management Discussion and Analysis Report, which forms part of this Integrated Annual Report.

Change in Nature of Business

During the year under review, there has been no change in the nature of the business of your Company.

Material Changes and Commitments affecting the financial position of the Company

There have been no material changes and commitments affecting the financial position of your Company which occurred between the end of the financial year of the Company to which the financial statements relate and the date of the report.

Risk Management

The Board of your Company has formed a Risk Management Committee to frame, implement and monitor the risk management plan of the Company for identifying and mitigating various risks. The Committee is responsible for reviewing the risk management plan and ensuring its effectiveness. The Company recognises that the emerging and identified risks need to be managed and mitigated to (a) protect its shareholders and other stakeholders' interest; (b) achieve its business objectives; and (c) enable sustainable growth.

The details of various risks that are being faced by the Company are provided in the Management Discussion and Analysis Report, which forms part of this Integrated Annual Report.

Details of Policy developed and implemented on Corporate Social Responsibility

In terms of Section 135 of the Act read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, as amended, your Company has formed ESG & CSR Committee ("ECC") to approve activities to be undertaken, experience to be incurred and to monitor the performance of the Corporate Social Responsibility (CSR) activities undertaken by the Company.

The policy on CSR as approved by the Board of Directors is also hosted on the website of the Company and can be accessed from web link https://www.patanjalifoods.com/wp-content/uploads/2024/10/CSR-Policy-1.pdf .

The CSR Projects of the Company for the financial year 2025-26 has been implemented by Patanjali Yogpeeth Trust registered under section 12A and 80G of the Income Tax Act, 1961. It is also registered with the Ministry of Corporate Affairs (MCA) vide registration no. CSR00005364 for undertaken CSR activities.

The following projects approved by the ESG & CSR Committee and Board of Directors of the Company implemented by Patanjali Yogpeeth Trust:

? Project 1 - Construction of girls' hostel building

? Project 2 - Construction of Indoor Stadium

? Project 3 - Installation of MRI Machine

? Project 4 - Construction of Treatment Centre

These activities are in accordance with Schedule VII to the Act.

The Board of Directors and the ESG & CSR Committee review and monitor from time to time the CSR activities being undertaken by the Company.

The annual report on CSR activities in accordance with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (as amended from time to time), is set out at Annexure III, which forms part of this Integrated Annual Report.

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

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under section 134(3)(m) of the Act read with the Companies (Accounts) Rules, 2014, is annexed as Annexure - IV, which forms part of this Integrated Annual Report.

Share Capital

During the year under review, the Company has allotted 7,07,841 equity shares of face value of ? 2/- (Rupees Two only) each, fully paid-up, to the eligible employees of the Company pursuant to exercise of Employee Stock Options (ESOPs) vested with them, in accordance with the PFL Employee Stock Option Plan 2023 ("ESOP 2023") Plan.

Further, during the year members of the Company through resolution passed by way of postal ballot on August 21, 2025 approved issuance of bonus shares in the ratio of 2:1 i.e. 2 (Two) new fully paid-up equity shares of face value of ? 2/- (Rupees Two Only) each for every 1 (One) existing fully paid-up equity share of face value of ? 2/- (Rupees Two Only) to the eligible equity shareholders of the Company as on record date i.e. September 11, 2025, by capitalization of capital redemption reserve and / or securities premium and / or general reserve. Accordingly, your Company has issued and allotted 72,52,18,830 equity shares as bonus shares to the eligible shareholders of the Company.

As on date of this report, consequent to allotment of shares under ESOP 2023 and due to Bonus Issue, the capital structure of the Company is as follows:

The paid-up equity share capital of your Company is ? 217,62,17,190 divided into 108,81,08,595 equity shares of ? 2/- (Rupees Two only) each fully paid-up.

Annual Return of the Company

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the Annual Return as on the financial year ended March 31, 2026 is placed on the Company's website at https://www.patanjalifoods.com/annual-return .

Secretarial Standards

Your Company has followed Secretarial Standards as issued by the Institute of Company Secretaries of India and notified by the Ministry of Corporate Affairs (MCA).

Corporate Governance and Management Discussion & Analysis Report

Your Company is committed to maintain the highest standards of Corporate Governance and adheres to the Corporate Governance requirements as set out by the Securities and Exchange Board of India ("SEBI"). Your Company has also implemented several best governance practices.

Separate reports on Corporate Governance Compliance and Management Discussion and Analysis as updated under Regulation 34 read with Schedule V of the Listing Regulations forms part of this Integrated Annual Report along with the requisite certificate issued by Secretarial Auditors of your Company regarding compliance of the conditions of Corporate Governance.

Business Responsibility and Sustainability Report

The Business Responsibility and Sustainability Report (BRSR) for the year ended March 31, 2026 as stipulated under Regulation 34 of the Listing Regulations is annexed and forms part of this Integrated Annual Report.

Employee Stock Option Plan (ESOP)

With a view to attract, retain, motivate and reward key employees of the Company for their performance and to motivate them to contribute to the growth and profitability of the Company, the Company has granted stock options to eligible employees under the PFL Employee Stock Option Plan 2023 ("ESOP 2023") Plan.

There is no material change in the ESOP scheme during the financial year under review except that the impact of bonus issue in the ratio of 2:1 on outstanding options has been applied. Accordingly, the option pool stands revised from 1,02,45,283 to 3,07,35,849 options.

The ESOP 2023 is in compliance with the Act and Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 ("SBE Regulations") and the disclosures relating to the ESOP 2023 as required under Regulation 14 of SBE Regulations are available on the Company's website at https://www.patanjalifoods.com/notice-document-for [link continues on next page]

ESG & CSR CommitteeStakeholders Relationship CommitteeRisk Management Committee.

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

Vigil Mechanism/Whistle Blower Policy

Your Company has adopted a Vigil Mechanism/Whistle Blower Policy in terms of the provisions of the Act and the Listing Regulations, to provide a formal mechanism to the Directors and employees of the Company to report their genuine concerns and grievances about unethical behaviour, actual or suspected fraud or violation of the Company's Code of Conduct or Ethics. The policy provides adequate safeguards against victimisation of Directors and employees who avail such mechanism and also provides for direct access to the Vigilance Officer and the Chairman of Audit Committee.

The Audit Committee of the Board is entrusted with the responsibility to oversee the vigil mechanism. During the year, no personnel were denied access to the Audit Committee. The Vigil Mechanism/Whistle Blower Policy is available on the website of the Company at https://www.patanjalifoods.com/wp-content/uploads/2024/11/WhistleBlower-Policy-1.pdf .

Disclosure Under Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013

The Company has adopted a policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules made thereunder. The aim of the policy is to provide protection to employees at the workplace and prevent and redress complaints of sexual harassment and for matters connected or incidental thereto, with the objective of providing a safe working environment, where employees feel secure. All employees (permanent, contractual, temporary and trainees) are covered under the said policy.

Your company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, to redress complaints received, if any, on sexual harassment.

The following is the summary of complaints received and disposed off relating to sexual harassment and matters connected or incidental thereto during the FY 2025-26:

Application/Proceeding made or pending under the Insolvency and Bankruptcy Code, 2016 ("IBC")

During the year under review, no application was made or proceeding were pending under IBC by or against your Company and no proceeding is pending under IBC by or against the Company.

Disclosure on One Time Settlement

During the year under review, the Company has not entered into any one-time settlement with the banks or financial institutions who have extended loan or credit facilities to the company.

Contributions

The Company has not made any contributions to/spending for political campaigns, political organizations, lobbyists or organizations, trade associations and other tax exempted groups.

Significant and material orders passed by the Regulators or Courts or Tribunals impacting the Going concern status and Company's operations in future

During the year under review there are no significant and material orders passed by any regulator, court, tribunal impacting the going concern status of the Company and its operations in future.

Statement with respect to the compliance to the provisions relating to the Maternity Benefits Act, 1961 / The Code on Social Security, 2020

The Company is in compliance with the applicable provisions relating to maternity benefits as prescribed under the Maternity Benefit Act, 1961 / The Code on Social Security, 2020.

General

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

a. Receipt of any remuneration or commission from any of its subsidiary companies by the Managing Director or Whole-time Director of the Company.

b. During the year under review, the Company has not bought back any of its securities / not issued any sweat equity shares / not issued any equity shares with differential rights.

c. There was no revision of the previous year's financial statements during the financial year under review.

Acknowledgement

The Directors take this opportunity to thank its investors, shareholders, bankers, distributors, key partners, and other service providers for their continued support. The Directors would like to convey their gratitude to Central Government, State Governments and Company's Bankers for the assistance, co-operation and encouragement they extended to the Company and look forward to their continued support.

The Directors acknowledge the valuable assistance, support and guidance given by the Securities and Exchange Board of India, Reserve Bank of India, Ministry of Corporate Affairs, Registrar of Companies, Stock Exchanges and Depositories.

The Directors wish to place on record their appreciation to employees at all levels for their dedication and commitment.