Dear Member(s),

The Board of Directors of the Company are pleased to present the Thirty Fourth Annual Report of the Company along with its Audited Financial Statements for the Financial Year ended on March 31, 2023.

1. FINANCIAL HIGHLIGHTS

(Rs in lakhs)

2. DIVIDEND

During the year under review, Directors of the Company on October 27, 2022, declared an interim dividend of R 4.00 (Rupees Four Only) per share (with face value of R 4/- per share) for financial year 2022-2023, involving an outflow of R 3760.83 Lakhs.

Directors have further recommended a final dividend of R 7/- (Rupees Seven Only) per share (with face value of R 2/- per share) for F.Y 2022-23 which will lead to an outflow of R 13162.89 lakhs subject to approval of members in the ensuing Annual General Meeting of the Company.

Pursuant to the provisions of Regulation 43A (1) of SEBI (LODR) Regulations, 2015, Company has formulated its Dividend Distribution Policy which is available on the website of the Company www.supremepetrochem. com. Company has transferred the unpaid or unclaimed dividend amounts to the Unclaimed Dividend Account of the respective financial years in terms of Section 124 of Companies Act 2013, as applicable.

3. REVIEW OF OPERATIONS

Company's revenue stood at R 5346.14 Crores (net of GST) for the year under review as compared to R 5062.80 Crores (net of GST) in the previous year. Company during the year under review earned a net profit of R 498.14 Crores against R 663.26 Crores in the previous year. Shrinking global delta between price of raw material and Company's products and Company's inability to meet domestic demand due to

delays in startup of its expansion capacities on account of late receipt of statutory approvals impacted Company's performance during the year.

4. SUB-DIVISION / SPLITTING OF EQUITY SHARES

During the year under review, the Company sub-divided its equity shares from the paid-up face value of R 4/- per share to R 2/- per share w.e.f. 07.01.2023 (date of commencement of trading / issue of new share certificate) in terms of shareholders' approval obtained vide ordinary resolution dated December 02, 2022, however keeping the paid-up share capital of the Company intact at R 37,60,82,684/-, divided into 18,80,41,342 paid-up equity shares of R 2/- each.

5. MANAGEMENT DISCUSSION AND ANALYSIS REPORT & CORPORATE GOVERNANCE REPORT

Management Discussion and Analysis Report & Corporate Governance Report of the Company for the year under review are annexed to the Annual Report separately forming its integral part. The certificates issued by M/s. Parikh & Associates, practicing Company Secretaries, pertaining to compliance of 'Corporate Governance' conditions by Company, as applicable, and no debarment or disqualification of Directors of the Company by SEBI/ MCA or any other statutory authority from being appointed or continuing as Director of the Company are annexed to Corporate Governance Report as Annexure - A & B respectively.

6. BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT (BRSR)

Business Responsibility and Sustainability Report for the year under review in terms of Regulation 34(2) (f) of SEBI (LODR) Regulations, 2015, is annexed separately forming integral part of the Annual Report.

7. CORPORATE SOCIAL RESPONSIBILITY (CSR)

Corporate Social Responsibility Policy (CSR Policy) of the Company in terms of Section 135 of Companies Act, 2013 and Schedule VII thereto was approved by the Board post recommendation of CSR Committee and the same is available on the Company's website at the link: www.supremepetrochem. com.

The Company, during the financial year 2022-23, was obligated to spend an amount of R 1082.11 lakhs on various CSR activities including set off amount of R 25.28 Lakhs excess CSR expenditure already incurred in F.Y. 202122 resulting into net CSR obligation amount of R 1056.83 lakhs for F.Y. 2022-23. Thus a net amount of R 580.47 lakhs was spent during F.Y. 2022-23 and balance unspent amount of R 476.36 lakhs in respect of four ongoing projects, three in Maharashtra State and one in Rajasthan State, have been deposited in a separate bank account for spending on these projects in next 3 years. With this

deposit, total CSR spending of Company amounts to R 1082.11 lakhs during F. Y 2022-23, including excess CSR expenditure of R 25.28 lakhs incurred in F.Y. 2021-22.

The prescribed amount to be spent by Company for CSR activities during F.Y. 2023-2024, as per Section 135 of Companies Act, 2013, amounts to R 1422.32 lakhs.

The details of CSR activities undertaken by the Company during the year under review is annexed to the Board Report vide Annexure 4 forming its integral part.

8. DIRECTORS AND KEY MANAGERIAL PERSONNEL

(A) Change in Directors and Key Managerial Personnel:

(i) Appointment of Directors retiring by Rotation:

Shri Rajan B. Raheja (DIN 00037480) and Shri B. L. Taparia (DIN 00112438), Directors of the Company will retire by rotation at the ensuing Annual General Meeting of the Company and being eligible, have offered themselves for re-appointment as NonExecutive and Non-Independent Directors of the Company.

Except above changes, which the Board recommends and are included in the AGM notice for seeking approval of members, there is no other change in the composition of the Board of Directors and Key Managerial Personnel (KMPs) of the Company during the year under review.

(B) Annual evaluation of the Board and Board Committees:

Company has a well-defined system/criterion for evaluation of performance of the Board and its Committees, Independent Directors, Non-Independent Directors and Chairperson of the Company as approved by its Nomination and Remuneration Committee.

Pursuant to the provisions of Section 178(3) of Companies Act, 2013 and Regulation 17(10) of SEBI (LODR) Regulations, 2015, the Board has carried out the annual evaluation of Independent Directors of the Company viz. Shri M. S. Ramachandran, Shri R. Kannan, Ms. Ameeta Parpia, Dr. S. Sivaram and Shri Rajeev Pandia individually and the Board also carried out evaluation of all the Committees of the Board and found the performance of the Independent Directors and the Committees upto the mark. They also noted that all the Independent Directors of the Company are fulfilling the criteria of their independence as per the provisions of Section 149(6) of Companies Act, 2013 and Regulation 16(1)(b) of SEBI (LODR) Regulations, 2015 and the Directors of the Company do not bear any debarment / disqualification with respect to their continuance in the Directorship of the Company as

per their disclosures made to the Company.

Further in terms of the aforesaid Provisions of Companies Act, 2013 and Regulation 25(4) of SEBI (LODR) Regulations, 2015, the Independent Directors carried out the annual evaluation of Non- Independent Directors viz. Shri M. P Taparia, Shri Rajan B Raheja, Shri B. L. Taparia, Shri S. J. Taparia, Shri K.V. Mujumdar and the Board as a whole and the Chairperson of the Company and were highly contented with their efficient management of the overall affairs of the Company. They also appreciated the focused and apt leadership of the Board Chairperson Shri M. P Taparia in operating the business and maintaining the values, ethos, principles and standards of Corporate Governance.

The Board expressed its contentment with the evaluation results reflecting the high level of engagement of the Board and its Committees in managing the overall affairs of the Company and its Management.

The Criteria related to evaluation of Independent Directors are disclosed in the Corporate Governance Report annexed to the Annual Report separately forming its integral part.

(C) Remuneration Policy:

The criteria / policies of the Company for selection of Directors and Remuneration Policy for Directors, Key Managerial Personnel (KMPs) / Sr. Management Personnel and other employees of the Company is annexed to the Board Report vide Annexure 1 forming integral part thereof.

(D) Familiarization Programme of the Independent Directors:

Pursuant to the provisions of Regulation 25(7) of SEBI (LODR) Regulations, 2015, the details of the Familiarization Programme conducted for Independent Directors during the year under review is placed on the website of the Company and can be accessed at www.supremepetrochem.com

(E) Declaration from Independent Directors:

Pursuant to the provisions of Section 149 of the Act, the Independent Directors have submitted declarations that each of them meets the criteria of independence as provided in Section 149(6) of the Companies Act, 2013 and Rules framed thereunder and Regulation 16(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. There has been no change in the circumstances affecting their status as Independent Directors of the Company during the year under review.

In the opinion of the Board, the Independent Directors possess appropriate balance of skills, experience and knowledge as required for conducting the affairs of the Company.

9. DIRECTORS? RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 134(5) of The Companies Act, 2013, Directors confirm that:

(a) in the preparation of the Annual Accounts, for the financial year ended March 31, 2023, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

(b) they have selected such accounting policies and applied them consistently and made judgments 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 and loss of the Company for that period;

(c) proper and sufficient care have been taken for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(d) the annual accounts have been prepared on a going concern basis;

(e) internal financial controls laid down by the Directors were followed by the Company and that such internal financial controls are adequate and are operating effectively;

(f) proper systems to ensure compliance with the provisions of all applicable laws were in place and that such systems are adequate and operating effectively.

10. PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

With respect to disclosures pertaining to remuneration of employees and other details as required under Section 197(12) of the Companies Act, 2013, read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and also having regard to the proviso to Section 136(1) of the Companies Act, 2013 and as advised, the Annual Report excluding the aforesaid information(s) is being sent to the members of the Company, however statement showing the names and other requisite particulars of such employees drawing remuneration in excess of the threshold limits set out in the aforesaid rules is available for inspection at the Registered Office of the Company during working hours for a period of 21 days before the date of AGM and any member interested for obtaining such information may write to the Company Secretary and the same will be furnished on request.

The Annual Report of the Company is also available on its website www.supremepetrochem.com

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 for the financial year:

a. The ratio of the remuneration of Whole Time Director to the median remuneration of the employees of the Company for the financial year 2022-2023:

b. The percentage increase in remuneration of Manager, CFO, Whole Time Director and Company Secretary in the Financial Year 2022-2023:

c. The Key parameters for any variable component of remuneration availed by the Whole Time Director is dependent on performance of Company and respective employees.

d. The percentage increase in the median remuneration of employees in the Financial Year 2022-2023 - 10%

e. The number of permanent employees on the rolls of Company as on 31.03.2023 - 405

f. The average percentage increase in the salaries of employees other than the Managerial Personnel was 12.93% as compared to the average % increase of 15.11% in the Managerial personnel remuneration.

The Company affirms that the remuneration is as per the Remuneration Policy of the Company.

11. HEALTH, SAFETY & ENVIRONMENT (HSE)

Considering the significance of Health, Safety and Environment to any petrochemical operations, the Company has established a robust HSE system at both of its plants situated at Amdoshi, Maharashtra and Manali Chennai.

Both the Environmental Management System and Occupational Health and Safety Management System continued to be maintained by Company as per the ISO 14001:2015 Standard and ISO 45001:2018 Standard respectively.

The Company continues to implement the HSE Management

Systems under the guiding principles of declared Integrated Management System Policy (Occupational Health and Safety Policy' and 'Environmental Policy').

HSE Performance Index for the period under review stood to be in "Excellent" Range.

Company's Amdoshi Plant has completed 8202 accident- free days as on March 31, 2023, i.e. 21.45 million manhours of accident-free operations.

12. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, CAPITAL INVESTMENT, FOREIGN EXCHANGE EARNING AND OUTGO

Information(s) required pursuant to the provisions of Section 134(3)(m) of the Companies Act, 2013, read with Rule 8 of the Companies (Accounts) Rules, 2014, are stated as hereunder

A CONSERVATION OF ENERGY

Energy Conservation programme at both the plant locations of the Company resulted in saving of energy to the extent of 744720 KWH.

The energy conservation programme mainly comprised of replacement of HPSV and HPMV fittings with LED fittings, replacement of existing equipment and induction motors with energy efficient equipment and induction motors, provision of VFDs and optimization of equipment utilization in plant.

B TECHNOLOGY ABSORBTION

As far as technology absorption is concerned, all the previously supplied technologies have fully been absorbed and implemented.

C CAPITAL INVESTMENT

The details w.r.t. Capital Investment of the Company (viz. CAPEX) are stated in the Management Discussion and Analysis Report of the Company separately annexed to the Annual Report forming its integral part.

D FOREIGN EXCHANGE EARNINGS AND OUTGO (ON ACTUAL BASIS)

(Rs in lakhs)

13. TRANSFER OF UNCLAIMED SHARES AND DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

Pursuant to the provisions of Section 124(5) of the Companies Act, 2013, all unpaid or unclaimed dividends for a period of seven years are required to be transferred by the Company to the Investor Education and Protection

Fund (IEPF) established by the Central Government.

Company transferred an aggregate amount of R 37.47 Lakhs during the year under review to the Investor Education and Protection Fund Account. The aggregate amount transferred to the fund since January 2002 is R 567.06 Lakhs.

Further Section 124(6) of the Companies Act, 2013 requires that all shares in respect of which unpaid or unclaimed dividend has been transferred to IEPF, shall also be transferred to IEPF.

In view of above provisions, Company transferred 67537 equity shares belonging to 426 shareholders between 28/11/2022 to 09/12/2022 to the Investor Education and Protection Fund Account. Company transfers the shares to IEPF Account as per the IEPF Regulations, the aggregate whereof stands at 3475900 shares as on 31.03.2023 (viz. paid-up share capital of R 2/- per share).

The unclaimed dividends on equity shares paid in March 2016 are in process for transfer to IEPF in April 2023 and unclaimed dividends on equity shares paid in October 2016 will be due for transfer to the IEPF in November 2023. Investors who have not yet claimed these dividends are requested to contact the Company or the RTA of the Company for any support required in this regard.

The Company will upload full details of such shareholders and shares due for transfer to IEPF Account on its website at www.supremepetrochem.com/investorrelations. Members are requested to complete formalities for claiming unpaid dividend, if any, to avoid transfer of such shares to IEPF. Please refer to the section Shareholders' Assistance in the Corporate Governance Report for further details.

14. AUDITORS AND AUDIT REPORTS Statutory Auditors

M/s. G M Kapadia & Co. is the Statutory Auditors of the Company and their Audit Report forms integral part of the Annual Report. They were appointed for 5 years period in AGM held on 18.07.2018, therefore their term as an Statutory Auditor will terminate at the conclusion of this 34th AGM.

During the year under review, the Audit Report does not contain any qualification, reservation, adverse remark or disclaimer and no fraud was noticed by the Auditors of the Company during Financial Year 2022-2023 which is reportable under Section 143(12) of the Companies Act, 2013.

On expiry of the term of M/s. G. M. Kapadia & Co. as Statutory auditors, M/s. Kalyaniwalla & Mistry LLP, a Chartered Accountants Firm (Firm Regn. No. 104607W/ W100166), has been recommended for appointment as Statutory Auditors of the Company for a period of 5 years

(F.Y 2023-24 to 2027-28) by the Audit Committee of the Company and the Board and the same is being placed before members for seeking their approval.

Cost Auditors

M/s. Kishore Bhatia & Associates has been appointed by the Board as Cost Auditors of the Company to conduct audit of its cost accounting records for the financial year 2023-2024.

In accordance with the requirement of the Central Government and pursuant to the provisions of Section 148 of the Act, the Company has maintained the cost records for Financial Year 2022-2023 as applicable. Annual Audit of the cost accounting records of the Company is also carried out by the Cost Auditors.

The remuneration payable to the Cost Auditors is required to be ratified by the members. Accordingly, a resolution for the remuneration of said cost auditor is included in the AGM notice of the Company vide Item No. 6 annexed to the Annual Report.

Secretarial Auditors

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

Pursuant to the provisions of Section 204 of Companies Act, 2013 and rules thereto, M/s. Parikh & Associates, Practicing Company Secretaries, have been appointed by the Board as Secretarial Auditors of the Company to conduct its Secretarial Audit for the Financial Year 2023- 2024.

The Secretarial Audit Report for the Financial Year ended March 31, 2023 in form No. MR-3 is annexed to the Board Report vide Annexure-2 forming integral part thereof. The Secretarial Auditors' Report does not contain any qualification, reservation or adverse remark except for delay of 11 days in holding meeting of Risk Management Committee of Company on 16.09.2022 due to non-availability of requisite quorum.

15. RELATED PARTY TRANSACTIONS

Transactions with related parties during the year under review were in compliance with the provisions of Regulation 23(1) of SEBI (LODR) Regulations, 2015 and Section 188 of Companies Act, 2013. These transactions were in the ordinary course of business and on an arm's length basis. During the year under review, Company did not enter into any contract or arrangement which could be considered material as per the policy of Company on materiality of Related Party Transactions.

The said Policy on materiality of Related Party Transactions,

as approved by the Board, is available on the Company's website at the link: www.supremepetrochem.com. Information with respect to Related Party Transactions taken place during financial year 2022-23 is annexed to the Board Report in form AOC-2, vide Annexure 3, forming its integral part.

16. RISK MANAGEMENT

Risk evaluation of the business of the Company and the Management thereof is a consistent process within the Company. In terms of the provisions of Regulation 17(9) of SEBI (LODR) Regulations, 2015, the Company has a robust risk management framework to inform the Board members about risk assessment and minimisation procedures. As a process, the risks associated with the business are prioritised based on probability, severity, nature and effectiveness of current detection.

Each risk factor is monitored periodically by the Management and any risk-associated event arising from these factors which are likely to impact the operations of the Company significantly are reported to the Risk Management Committee and the Board. The risk management framework is aimed at efficiently mitigating the Company's various business and operational risk through strategic actions.

In terms of Regulation 21 of SEBI (LODR) Regulations, 2015, the Company has constituted a Risk Management Committee on July 18, 2018, which met twice during the year to review the risks associated with the operations of the Company. During the year under review, management has not come across any element of risk which can threaten its existence or disrupt / impact business operations significantly.

17. INTERNAL FINANCIAL CONTROLS

Company has adequate internal financial control system in place commensurating with its size, scale, complexity and the nature of business with an objective to ensure that its financial and operational informations are duly recorded, authorised and reported apart from protecting its assets against any major misuse or loss. The Company's Internal Auditors carry out regular checks on the adequacy of the internal financial controls and has not come out with any material or serious observation(s) for inefficiency or inadequacy of such controls. The Internal Audit System is reviewed periodically to ensure its adequacy and compliances in conformity with the policies of the Company and its operating system.

The Internal Audit Reports are submitted periodically to the Audit Committee. The Audit Committee members review these reports and discuss with the executive management, wherever required and requisite corrective actions are taken up by the process owners in their respective areas, thereby strengthening the financial controls.

18. VIGIL MECHANISM / WHISTLE BLOWER

POLICY

Company has formulated a Whistle Blower Policy and has also established an effective vigil / whistle blower mechanism for its Stakeholders including its Employees & Directors and provides them a channel to report to the Management their concerns about unethical behaviour, actual or suspected fraud, mismanagement or violation of code of conduct or policy of the Company, if any. The mechanism provides for adequate protection against victimization of the whistle blower and provides for direct access to the Chairperson of the Audit Committee in exceptional cases.

19. POLICY FOR PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL HARASSMENT OF WOMEN AT THE WORKPLACE

Company has zero tolerance for sexual harassment at workplace and has adopted, in line with the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act 2013 (POSH), a documented policy for prevention, prohibition and redressal of sexual harassment of women at workplace, under the guiding principle that no woman shall be subjected to sexual harassment at workplace(s) in the Company's location(s).

Company has formed the Internal Complaints Committee (ICC) comprised of internal and external members, to hear, inquire, investigate and suitably address the matter of complaints of sexual harassment, if any, and to recommend punitive / corrective action to the Management. Easy access has been provided to the ICC for woman employees of the Company.

Disclosures pursuant to the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and SEBI - Listing Regulations are as under:

20. MEETINGS OF THE BOARD AND COMMITTEES OF THE BOARD

The number of meetings of the Board and various committees including their composition are set out in the Corporate Governance Report which forms integral part of this report. The intervening gap between the meetings was within the period prescribed under provisions of the Companies Act 2013 and SEBI (LODR) Regulations except delay of 11 days in holding Risk Management Committee Meeting due to non-availability of requisite quorum.

21. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENT

No loans or guarantees or direct investment in the securities of the Company were made by the Company, pursuant to the provisions of Section 186 of the Companies Act, 2013, during the Financial Year 2022-2023.

22. ANNUAL RETURN

Pursuant to the provisions of Section 134(3)(a) and Section 92(3) of the Act read with Rule 12 of the Companies (Management and Administration) Rules, 2014, Annual Return of the Company as at 31st March, 2023 is uploaded on the website of the Company www.supremepetrochem.com

23. DETAILS OF SUBSIDIARIES / JOINT VENTURES/ ASSOCIATES ENTITY

The Company does not have any Subsidiary/ Joint Venture /Associate entity.

24. CODE OF CONDUCT FOR PROHIBITION OF INSIDER TRADING

Company has in place a Code of Conduct for prohibition of Insider Trading, which stipulates the process of trading in the securities of the Company by the persons having direct or indirect access to the Unpublished Price Sensitive Information(s) of the Company (UPSIs) including the designated persons. The said code is aimed to regulate, monitor and report the trading in the securities of the Company by the Insiders as per prevailing law and regulation(s).

The said Code of Conduct is available at the website of the Company www.supremepetrochem.com.

The Company has also put in place requisite Structured Digital Database (SDD) system for the Designated Persons (DPs) to protect the confidentiality of Unpublished Price Sensitive Information (UPSI) of the Company.

25. CREDIT RATING

During the year under review, the Company has not issued any debt instrument or fixed deposit receipts etc. in India or abroad.

CRISIL Ratings Ltd has reaffirmed long term rating at CRISIL AA-/Stable and short term rating at CRISIL A1 + for Company's fund and non fund based working capital facilities from Banks.

India Ratings and Research (IND-Ra) has assigned Company's long term rating at IND AA- with positive outlook and short term rating at IND A1+ for Company's fund and non fund based working capital facilities from Banks.

The above ratings reflects financial discipline and resilience of the Company.

26. ACCREDITATIONS

Company has following accreditations:

1. ISO 9001:2015 (Quality Management System), ISO 14001:2015 (Environment Management System) and ISO 45001:2018 (Occupational Health and Safety Management System) certified from Bureau Veritas and valid up to 09-04-2024.

2. Authorized Economic Operator (AEO) under T2 category by Directorate of International Customs, for its import and exports, valid upto 30-01-2025.

3. Recognized as Three Star Export House by Ministry of Commerce and Industry (DGFT), valid till 07-06-2026.

27. MATERIAL CHANGES AND COMMITMENTS BETWEEN THE END OF THE FINANCIAL YEAR AND THE DATE OF THE BOARD REPORT

No material changes and commitments have occurred after the closure of the financial year ended 31st March 2023 till the date of this Report, which would affect the financial position of the Company significantly.

28. GENERAL DISCLOSURES

(A) No disclosure or reporting is required of the following items as there were no transactions with respect to following activities / matters during the year under review.

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

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

iii. Details relating to deposits covered under Chapter V of the Companies Act, 2013.

iv. No significant or material orders were passed by the Regulators or Courts or Tribunals against the Company or its Directors which may impact the going concern status of the Company or its operations in future or the Directors of the Company in any manner.

v. No change in the nature of business of the Company.

vi. No Fund based Borrowing (viz. term loan) availed/ utilised.

(B) Other Disclosures:

The details of Directorship, meetings held and committee membership of the Directors of the Company are stated in the Corporate Governance Report annexed separately to the Annual Report forming its integral part.

ACKNOWLEDGEMENT

Directors record their deep gratitude for the unstinted & valuable support and co-operation provided by the stakeholders of the Company all across including its Shareholders, Bankers, Customers, Suppliers, Business Associates etc. and last but not the least by the employees of the Company for their constant, devoted, outstanding services and contribution to the Company.