To The Members,

Your Directors have pleasure in presenting the 39^th (Thirty Ninth) Annual Report together with the Audited Financial Statements of MONIND LIMITED (Formerly known as Monnet Industries Limited) ("the Company") for the Financial Year ended on 31^st March, 2022.

1. FINANCIAL SUMMARY

A summary of the Company's Financial Results for the Financial Year 2021-22, is as under:

2. STATEMENT OF COMPANY'S AFFAIR AND FUTURE OUTLOOK

The shareholders in their last Annual General Meeting held on 16th September 2021 passed the resolution u/s 180(1)(a) of Companies Act, 2013 for sale of plant and machinery situated at Plot No. 216, 217 (part) and 218 (part), Sector-C, Urla Industrial Complex, Raipur-493 221 (Chhattisgarh) at an Enterprise Value of not less than Rs. 1,00,00,000 (Rupees One Crore Only) and authorized the Board of Directors to take necessary steps in this regard.

Further, the said plant was situated on leasehold land from CSIDC and was proposed to be sold as going concern, but the CSIDC have taken over the possession of the Land along with the Plant. As the Plant built over Leased Land remain in the ownership and property of Monind Limited (Formerly, Monnet Industries Limited), Company decided to give consent to the CSIDC for the disposal of the same at a price being determined by them. Accordingly the Company received Rupees 1,27,48,861/- (Rupees One Crore Twenty Seven Lakhs Forty Eight Thousand Eight Hundred and Sixty One Only) from CSIDC towards the sale of the Plant & Machinery.

3. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATED AND DATE OF THE REPORT

In terms of Section 134(3) (I) of the Companies Act, 2013, except as disclosed elsewhere in this Report, no material changes or commitments affecting the financial position of the Company which have occurred between the end of the Financial Year and the date of this Report. Further, there has been no change in the nature of the business during the period under review.

4. DIVIDEND AND RESERVES

In view of the losses incurred by the Company during the year under review, your directors have not recommended any dividend and have not transferred any amount to reserve for the Financial Year 2021-22.

5. PUBLIC DEPOSITS

Your Company has not accepted any deposits falling within the purview of Section 73 of the Act read with Chapter V of the Companies Act, 2013 and Companies (Acceptance of Deposits) Rules, 2014.

There is no unclaimed or unpaid deposit lying with the Company.

6. SHARE CAPITAL

The Company's Authorized Share Capital during the Financial Year ended March 31, 2022, remained at Rs. 19,00,00,000/- (Rupees Nineteen Crores Only) consisting of 40,00,000 (Forty Lacs) equity shares of Rs. 10/- (Rupee Ten Only) each aggregating to Rs.4,00,00,000 (Four Crores) and consisting of 15,00,000, (Fifteen Lacs) 10% Non-Cumulative, Non-Convertible Redeemable Preference shares of Rs. 100/-(Rupee Hundred Only) each aggregating to Rs. 15,00,00,000/- (Rupees Fifteen Crore).

The Company's Paid Up Share Capital during the during the Financial Year ended March 31, 2022 stand at Rs. 18,68,12,620/- (Rupees Eighteen Crore Sixty Eight Lacs Twelve Thousand Six Hundred and Twenty Only) consisting of 36,81,262 (Thirty Six Lacs Eighty One Thousand Two Hundred and Sixty Two) equity shares of Rs. 10/- (Rupees Ten Only) each aggregating to Rs. 3,68,12,620/- (Three Crores Sixty Eight Lacs Twelve Thousand Six Hundred and Twenty only) and 15,00,000 (Fifteen Lacs) 10% Non-Cumulative, Non-Convertible Redeemable Preference shares of par value of Rs. 100 /- (Rupees Hundred Only) each aggregating to Rs. 15,00,00,000/- (Rupees Fifteen Crores).

(For Further information, please refer Note No. 11 to the Standalone Financial Statements of the Company for the F.Y 2021-22).

7. SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES

Your Company has no Subsidiary, Joint venture or Associate Company and disclosure requirements in relation to Subsidiaries, Joint Ventures or Associate Companies is not applicable on the Company.

Hence, it is not required to attach Form AOC-1, pursuant to Section 129(3) of the Companies Act, 2013 read with Rule 5 of the Companies (Accounts) Rule, 2014, a statement containing salient features of the financial statements of Subsidiaries/Associate Company/Joint Ventures. (Please refer Note No. 11 of the Standalone Financial Statements of the Company).

8. DIRECTORS AND KEY MANAGERIAL PERSONNEL Directors

In accordance with the provisions of Section 152(6) of the Companies Act, 2013 and the Company's Articles of Association, Mr. Mahesh Kumar Sharma (DIN: 07504637), Director of the Company liable to retires by rotation at the forthcoming 39^th Annual General Meeting and, being eligible, offers himself for re-appointment. The Board recommends his re-appointment for the consideration of the Members of the Company at the ensuing 39th Annual General Meeting Mr. Vijay Sharma has resigned from the post of Non-Executive Independent Director of the Company w.e.f 09.08.2022 based on the recommendation of the Nomination and Remuneration Committee and based on his skills, experience, knowledge and positive outcome of performance evaluation, the Board of Director in their meeting held on 10/08/2022 has appointed Mr. Umesh Kumar Shukla as an Additional Director in the Category of Non-Executive Independent Director of the Company who shall hold office upto the conclusion of ensuing 39th Annual General Meeting and the Board recommended for his appointment as an Non Executive Independent Directors of the Company for a period of 5 years with effect from 10/08/2022, to 09/08/2027 in the ensuing 39th Annual General Meeting. Brief profile of Mr. Umesh Kumar Shukla (DIN: 00180433) has been given in the Notice convening the 39th Annual General meeting.

A brief resume, nature of expertise, details of directorships held in other companies of the Directors proposed to be appointed/re-appointed, along with their shareholding in the Company, as stipulated under the Secretarial Standards and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is appended as an Annexure to the Notice of the ensuing Annual General Meeting.

Key Managerial Personnel

Pursuant to the provisions of Section 2(51) & 203 of the Companies Act, 2013, during the year under review the Key Managerial Personnel (KMP's) of the Company are:-

1. Mr. Mahesh Kumar Sharma (DIN: 07504637)- Whole Time Director & Chief Financial Officer

2. Ms. Priya (M.NO. A43972)- Company Secretary and Compliance officer

9. STATEMENT ON INDEPENDENCE OF DIRECTORS

All independent directors have given declarations that they meet the eligible criteria of independence as laid down in Section 149(6) of the Companies Act, 2013 and Regulation 16(b) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations 2015.

The Board of Directors is of the opinion that the Independent Directors of your Company possess requisite qualifications, experience, expertise (including proficiency) and they hold the highest standards of integrity that enable them to discharge their duties as the Independent Directors of your Company for the purpose of Rule 8(5)(iiia) of the Companies (Accounts) Rules, 2014. Further, in compliance with Rule 6(1) of the Companies (Appointment and Qualification of Directors) Rules,

2014, all Independent Directors of the Company have registered themselves with the Indian Institute of Corporate Affairs.

10. NUMBER OF MEETING OF THE BOARD OF DIRECTORS

Four (4) meetings of the Board were held during the Financial Year 2021-22. The details of the aforesaid Meeting forms part of the Corporate Governance Report. The Company has complied with Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the applicable Secretarial Standards issued by the Institute of Company Secretaries of India with respect to the Board Meetings.

11. COMMITTEES OF THE BOARD

The Board of Directors has the following Committees:

1. Audit Committee

2. Nomination and Remuneration Committee

3. Stakeholders' Relationship Committee

4. Executive Committee

The details of the Committees along with their composition, number of meetings, terms of reference and attendance of members at the meetings are provided in the Corporate Governance Report which forms part of this Annual Report.

12. ANNUAL EVALUATION OF THE PERFORMANCE OF THE BOARD, ITS COMMITTEES AND OF INDIVIDUAL DIRECTORS

Pursuant to applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosures Requirements) Regulations 2015, a structured questionnaire was prepared after taking into consideration of the various aspects of the Board's functioning, composition of the Board and its Committee, culture, execution and performance of specific duties, obligations and governance.

Schedule IV to the Companies Act, 2013 also provides for the performance evaluation of Independent Directors by the entire Board of Directors, excluding the Directors being evaluated. The performance evaluation of the Chairman and the Non-Independent Directors was carried out by the Independent Directors and Non-Executive Directors. The Board of Directors expressed their satisfaction with the evaluation process.

The manner in which the evaluation of the Board, its Committees and Individual Directors has been carried out is explained in the Corporate Governance Report which forms part of this Annual Report.

13. RELATED PARTY TRANSACTIONS

All related party transactions that were entered into during the financial year were on arm's length basis and were in the ordinary course of business. Further, there have been no materially significant related party transactions between the Company and the Directors, the management, the subsidiaries or the relatives.

In this regard, disclosure in Form AOC-2 in terms of Section 134(3) (h) read with Section 188(2) of the Companies Act, 2013 forms a part of the report as Annexure-1.

As required under Regulation 23(1) of the Listing Regulation, the Company has formulated a policy on dealing with Related Party Transactions. The Policy is available on the website of the Company viz.

http://www.monnetgroup.com/MIL-code-policy.php

(For Further information, please refer Note No. 25 to the Standalone Financial Statements of the Company for F.Y 2021-22).

14. DIRECTOR'S RESPONSIBILITY STATEMENT

The Company has taken utmost care in its operations, compliance, transparency, financial disclosures and financial statements have been made to give a true and fair view of Company. As required under Section 134(5) and Section 134(3) (c), and based upon the detailed representation, due diligence and inquiry thereof and your Board of Directors and confirm as under:

a) In preparation of Annual Accounts for the financial year ended 31^st March, 2022 in the applicable Indian Accounting Standards (Ind "AS") and Schedule III of Companies Act, 2013 had been followed and there are no material departures from the same;

b) The directors had selected such accounting policies and applied 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 31^st March, 2022 and of the profit and loss of the Company for the Financial Year ended 31^st March, 2022.

c) The Directors had taken proper and sufficient care 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 for the financial year ended 31st March, 2022 have been prepared on going concern basis;

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

f) The Directors had devised proper systems to ensure compliance with the provisions of the all applicable laws and that such systems were adequate and operating effectively.

15. INTERNAL CONTROLS SYSTEMS AND ITS ADEQUACY

Your Company has an effective internal financial control and risk-mitigation system, which are constantly assessed and strengthened with new/revised standard operating procedures. The Company's internal control system is commensurate with its size, scale and complexities of its operations. The internal and operational audit was conducted by M/s O P Bagla & Co. LLP, (Firm registration No 000018N/N500091), Chartered Accountants for the financial year 2021-22. The main thrust of internal audit is to test and review controls, appraisal of risks and business processes, besides benchmarking controls with best practices in the industry. 7

The Audit Committee of the Board of Directors actively reviews the adequacy and effectiveness of the internal control systems and suggests improvements to strengthen the same. The Company has a robust Management Information System ('MIS') which is an integral part of the control mechanism.

The Audit Committee of the Board of Directors and Statutory Auditors are periodically apprised of the internal audit findings and corrective actions taken. Significant audit observations and corrective actions taken by the management are presented to the Audit Committee of the Board. To maintain its objectivity and independence, the Internal Audit function reports to the Chairman of the Audit Committee.

i) Statutory Auditor

Pursuant to the provisions of Section 139 of the Act and Rules framed thereunder, the present term (5 years from 34th AGM) of M/s APAS & Co. LLP, Chartered Accountants (Firm Registration No.000340C/C400308) as the Statutory Auditors of the Company will expire in the ensuing 39th Annual General Meeting of the Company and they have shown their unwillingness for reappointment, The Board of Director, on recommendation of the Audit Committee, have Recommended the appointment of M/s O P Bagla & Co. LLP, Chartered Accountants (Firm Regn. No.000018N/N500091) as Statutory Auditor of the Company for their first term of 5 (five) years from the conclusion of ensuing 39th Annual General Meeting till the conclusion of 44th AGM. The Company has received the Consent letter and a certificate u/s 139 of the Companies Act, 2013 from M/s O P Bagla & Co. LLP, Chartered Accountants, to the effect that their appointment, if made, shall be in accordance with the applicable provisions of the Act and the Rules issued thereunder.

Comments/Qualifications of the Statutory Auditors in their report and the notes forming part of the Accounts are self-explanatory. Management representations to these qualifications/comments are as follows:

A. Basis for Qualified Opinion in the Audit Report on Financial Statement and Comments of Management thereon

During the year, the Company has no major business activities and in view of continued liquidity constraints the Company has sought waiver of interest on unsecured short term loans. In view of aforesaid, no provision has been made towards interest on such loans. Had the interest been provided, loss for the year would have been higher by Rs. 1152.55 Lacs (Previous year Rs. 1047.77 Lacs) (based on prevailing terms and conditions of lending) with a corresponding accumulated increase in borrowings by Rs. 3678.05 lacs. Furthermore, such loan balances are subject to confirmation of balance from the lenders.

Management Response:

The Business of company is continued to be under stress this financial year due to disruption caused by pandemic. In fact, the state of affairs of the company has worse. In view of that the servicing of Loan and its interest could not be made.

ii) Secretarial Auditor

Pursuant to Section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had appointed M/s Sanjay Grover & Associates (Firm registration No P2001DE052900), Practicing Company Secretaries, New Delhi, as the Secretarial Auditor of the Company to conduct the Secretarial Audit of the Company for Financial Year 2022-23. The Report of Secretarial Auditor (Form MR-3) for the Financial Year 2021-22 is annexed to the report as Annexure -2.

The Secretarial Audit Report for the financial year ended March 31, 2022 does not contain any observation or qualification requiring explanation or comments from the Board under Section 134(3) of the Companies Act, 2013

iii) Internal Auditor

Pursuant to Section 138 of Companies Act, 2013, the Company appointed M/s O P Bagla & Co. LLP, (Firm registration No 000018N/N500091), Chartered Accountants, as Internal Auditors of the Company in its Board Meeting held on 29th June, 2021 for the Financial Year 2021-22. The report of the same has been placed before the Board of Directors.

The Board of Directors in their meeting held on 10^th day of August, 2022 have appointed M/s. VGG & Co. Chartered Accountants (Firm Registration No.: 031985N) as Internal Auditor of the Company for the F.Y 2022-2023.

17. CORPORATE SOCIAL RESPONSIBILITY

The Company, at present, does not fall in any of the criteria(s) as provided under section 135 of the Companies Act, 2013 and Rules made there under. Hence the provisions of Corporate Social Responsibility are not applicable on the Company.

18. LISTING OF SHARES

The Company's Equity Shares are presently listed at BSE Limited (Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai-400 001 Website: www.bseindia.com). The Annual Listing Fees for the Financial Year 2021-22 has been paid to BSE Limited.

The Company has made application to The Calcutta Stock Exchange Ltd. (7, Lyons Range, Kolkata- 700001) for delisting of its equity shares.

The Further details in relation to listing of shares are given in the Corporate Governance Report attached with the Board Report.

19. MANAGEMENT DISCUSSION & ANALYSIS REPORT

A detailed analysis of your Company's performance is discussed in the Management Discussion and Analysis Report as stipulated under Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, which forms part of this Annual Report as Annexure-3

20. RISK MANAGEMENT POLICY

Your Company's Risk Management Policy is backed by strong internal control systems. The risk management framework consists of policies and procedures framed at management level and strictly adhered to and monitored at all levels. The framework also defines the risk management approach across the enterprise at various levels. Risk management is embedded in our critical business activities, functions and processes. The risks are reviewed for change in the nature and extent of the major risks identified since the last assessment. It also provides control measures for risk and future action plans.

The internal audit team periodically visits the divisions and carries out audit. The findings are periodically reviewed by the Board and Audit Committee with emphasis on maintaining its effectiveness in dynamic business environment.

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

There are no significant material orders passed by the Regulators / Courts or Tribunals which would impact the going concern status of the Company and its future operations.

22. MATERIAL CHANGES FROM THE DATE OF CLOSURE OF THE FINANCIAL YEAR IN THE NATURE OF BUSINESS AND THEIR EFFECT ON THE FINANCIAL POSITION OF THE COMPANY

No material changes and commitments, materially affecting the financial position of the Company or having any material impact on the operations of the company have occurred between the end of the financial year under review and date of this report.

23. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT

The Statutory Auditors or Secretarial Auditors of the Company have not reported any frauds to the Audit Committee or to the Board of Directors under Section 143(12) of the Companies Act, 2013, including rules made thereunder.

24. VOLUNTARY REVISION OF FINANCIAL STATEMENTS OR BOARD REPORT

During the year under review, the company has not filed any application with the tribunal for revision of financial statements or board report in any of the three preceding financial years.

25. STOCK OPTIONS SCHEME

The Company does not have any Scheme of Stock Option for its employees, Directors etc.

26. DISCLOSURE UNDER SECTION 43(A)(II) AND SECTION 54(1)(D) OF THE COMPANIES ACT, 2013

During the year under review, the Company has not issued any shares with differential voting rights and sweat equity shares and hence, no information as required under Section 43(a)(ii) & Section 54(1)(d) of the Companies Act, 2013 read with applicable rules is required to be disclosed.

27. COPY OF ANNUAL RETURN

As required pursuant to Section 92(3) and 134 (3) (a) of the Companies Act, 2013, the Annual Return of the Company for the F.Y 2021-22 is available on the website of the Company at http://monnetgroup.com/Annual-Return-mil.php

28. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

In accordance with the provisions of Section 186 of the Companies Act, 2013, details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 for the year are given in the Note No. 5 and Note No.6 to the financial statements for the FY 2021-22.

29. NOMINATION AND REMUNERATION POLICY

The Board has, on the recommendation of the Nomination and Remuneration Committee framed a policy for selection and appointment of Directors, Key Managerial Personnel and their remuneration as well as policy on other employee's remuneration. The Brief terms of policy is stated on the website of the Company http://www.monnetgroup.com/MIL-code-policy.php

30. COMPOSITION OF AUDIT COMMITTEE

The details pertaining to Composition of Audit Committee are included in the Corporate Governance Report, which forms part of this report.

31. VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has a vigil mechanism named Vigil Mechanism / Whistle Blower Policy to deal with instances of fraud and mismanagement, if any. Details of the same are given in the Corporate Governance Report. The same has also been displayed on the website of the Company and the link for the same is http://www.monnetgroup.com/MIL-code-policy.php

32. COST RECORDS

The Company is not required to maintain cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013 read with Companies (Accounts) Amendment Rules, 2018 which came into effect on 31^st July, 2018.

33. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORK PLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

Your Company has laid down Anti Sexual Harassment policy on Gender Equality, Gender Protection, Prevention of Sexual Harassment and Redressal System in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. An Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, apprenticeship) are covered under this policy. The following is a summary of sexual harassment complaints received and disposed off during the year under review-

• No. of complaints received: Nil

• No. of complaints disposed off : NA

34. PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Act, read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are annexed to this report as Annexure-4.

35. SECRETARIAL STANDARDS

During the period under review, the Company has complied with the applicable Secretarial Standards notified by the Institute of Company Secretaries of India.

36. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONGWITH THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR.

There is no such proceeding pending against the Company under Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the Financial Year ended March 31^st, 2022.

37. 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

There are no instances of one time settlement during the Financial Year ended March 31^st, 2022.

38. CORPORATE GOVERNANCE REPORT

The Company has complied with the requirements of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding corporate governance. A report on the Corporate Governance practices followed by the Company, together with a certificate from the Practicing Company Secretary confirming compliance forms part of this report and a declaration by the Executive Director of the company regarding compliance by Board Members and Senior Personnel with the company's Code of Conduct. Further, a Certificate from the Company Secretary in practice that none of the directors on the Board of the Company has debarred or disqualified from being appointed or continuing as Director of the Company also form the part of the Corporate governance report and annexed to this report as Annexure-5.

39. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO

Information under Section 134(3)(m) of the Companies Act, 2013, read with rule 8(3) of the Companies (Accounts) Rules, 2014 is given below:

A. Conservation of Energy-

The Company's sold it's Plant & Machinery during the year therefore this section is not applicable on the Company.

B. Technology Absorption-

i. Efforts in brief made towards technology absorption

As the Company's plant is not in operation so no efforts were made for technology absorption.

ii. Benefits derived like product improvement, cost reduction, product development or import substitution: NIL

iii. In case of imported technology (imported during the last three financial year reckoned from the beginning of the financial year)

(a) Technology Imported: NIL

(b) Year of Import: NIL

(c) Whether the technology has fully been absorbed: NIL

(d) If not fully absorbed, area where absorption has not taken place and reason thereof: NIL

iv. Expenditure incurred on Research and Development: NIL

C. Foreign Exchange Earnings and Outgo- Not Applicable

40. CAUTIONARY NOTE

Certain Statements in the Board Report may be forward-looking and are stated as required by applicable laws and regulations. Many factors may affect the actual results, which would be different from what the Directors envisage in terms of the future performance and outlook. Investors are cautioned that this discussion contains forward looking Statement that involve risks and uncertainties including, but not limited to, risks inherent in the Company's growth strategy, dependence on certain businesses, dependence on availability of qualified and trained manpower and other factors discussed. The discussion and analysis should be read in conjunction with the Company's Financial Statements and notes on accounts.

41. ACKNOWLEDGEMENT

Your Directors take this opportunity to offer their sincere thanks to the various Departments of the Central and State Government, Financial Institutions, Bankers to the Company, all Customers, Suppliers and contractors for their continued valued assistance and support. Your Directors also wish to place on record their appreciation for dedicated services rendered by all officers, staff and workers of the Company at all levels.