Your directors are pleased to present the Thirty Ninth
Annual Report of the Company together with the Audited
Accounts for the financial year ended March 31, 2025.

FINANCIAL RESULTS

(Rs.in Crores)

Proposed dividend on equity shares has not been
recognized as a distribution of profit in the current year’s
accounts in accordance with the Indian Accounting
Standard.

OPERATIONS REVIEW

Total income increased by 4.07% to Rs.536.50 crores in
2024-25 from Rs.515.50 crores. The Profit after Tax for
the year 2024-25 is Rs.38.07 crores (previous year 2023-

24 Rs. 46.37 crores), showing a decrease of 17.91%.
With Fixed Assets of Rs.71.14 crores (previous year
2024-25 Rs.80.41 crores), our Fixed Asset Turnover ratio
is healthy at 7.30 % with Return on Sales stood at 11.13%.

DIVIDEND

Dividend Distribution Policy

Pursuant to Regulation 43A of Listing Regulations, the
Board adopted a Dividend Distribution Policy, which had
been placed on the website of the Company and can be
accessed at the link: https://www.avtnatural.com/policies/

Declaration and payment of dividend

Your Directors are pleased to recommend a final dividend
of Re0.40 per share (40%) with face value of Re.1/- each
on Equity Share Capital, for the year ended 31.03.2025,
amounting to Rs.609.14 Lakhs. During the year, the Board
declared an Interim Dividend of Re.0.30 per share (30%)
with face value of Re.1/- each, amounting to Rs.456.85
Lakhs. The aggregate of dividend declared during the
year was Re.1/-per share (70%) with face value of Re.1/-
each amounting to Rs.1065.99 Lakhs.

TRANSFER TO GENERAL RESERVE

Your directors are pleased to transfer a sum of Rs.20 Crs.
for the year 2024-25 (previous year Rs.25 Crs.) to the
General Reserve.

FINANCE

Cash and bank balances as at 31^st March 2025 was
Rs.530.07 lakhs (previous year Rs.955.42 lakhs). The
Company continues to focus on the judicious management
of its working capital, receivables, inventories and other
financial parameters and which were kept under strict
check through continuous monitoring.

The outstanding term loan from Federal Bank Limited as
on 31^st March 2025 is Rs.4.95 crore, which is given in the
note No.16 to the financial statements.

WINDMILL

The windmill of the Company located at Kokkampalayam
village, Dharapuram Taluk, Erode District, Tamil Nadu
generated 8,30,356 units of electricity in the year
2024-25 against 8,49,811 units generated in 2023-24. The
Company utilised the 7,68,111 units, generated as captive
consumption during 2024-25 for its Sathyamangalam
factory.

BOARD MEETING

The Board of Directors met five times during the financial
year. The details of the Board meeting are given in the

Corporate Governance report. The intervening gap
between the meetings were within the period stipulated
under the Companies Act, 2013 and SEBI (Listing
Obligations and Disclosure Requirements) Regulations,
2015.

AUDIT COMMITTEE MEETING

The Audit Committee of the Company met four times
during the current financial year. The details of the
Audit Committee meetings are given in the Corporate
Governance report. The intervening gap between the
meetings were within the period stipulated under the
Companies Act, 2013 and SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.

PARTICULARS OF LOANS, GUARANTEE, OR
INVESTMENTS

The Company has not given any loans or guarantees
covered under the provisions of section 186 of the
Companies Act, 2013 and Schedule V of the Securities
Exchange Board of India (Listing Obligations and
Disclosure Requirement) Regulations, 2015, except the
'Corporate Guarantee' given on behalf of its wholly owned
subsidiary companies viz., AVT Natural Europe Limited,
London and to AVT Natural S.A. DE C.V., Mexico, which
is given in the note No.37 to the financial statements.

The details of investments made by the Company are
given in the note No.7 to the financial statements.

LISTING WITH STOCK EXCHANGES

The Company Shares are continued to be listed in both
BSE Limited (BSE) and the National Stock Exchange of
India Limited (NSE). The Company has paid listing fees
up to 31^st March 2025 to both the BSE Limited (BSE) and
the National Stock Exchange of India Limited (NSE).

DSIR APPROVAL FOR IN-HOUSE R&D FACILITY AT
SOUTH VAZHAKULAM AND BANGALORE

The approval by the Department of Scientific and Industrial
Research (DSIR), New Delhi for the Company's R&D
facilities situated at South Vazhakulam, Aluva, Kerala and
the Manchenahaili Village, Kasabe Hobari, Bangalore are
valid upto 31.03.2025. The company has already applied
for renewal with DSIR. The approval is pending till now.

MATERIAL CHANGES AND COMMITMENTS

There are no material changes or events that have
occurred since the date of the Balance Sheet which could
have any effect on the financial position of the Company

DIRECTORS & KEY MANAGERIAL PERSONNEL

During the year, Directors Mr.M.A Alagappan (w.e.f.
24.07.2024) and Mr. P Shankar (w.e.f. 24.07.2024) were
retired from the Directorship due to completion of their
second term of five years as Independent Directors.

Mr.Habib Hussain, Director who was liable to retire by
rotation during the 38^th AGM held on August 09, 2024,
doesn't offer himself for re-appointment.

Mr.M.M.Venkatachalam and Mr.Ranganath N Krishna
were inducted into the Board as Independent Directors
with effect from July 25, 2024. Mr.Rahul Thomas
was inducted into the Board as Non-Executive Non¬
Independent Director with effect from June 12, 2024.

As on March 31, 2025, the Company has seven Non¬
Executive Directors out of which four are Independent
Directors.

i) Director retiring by rotation

In accordance with the provisions of Companies Act,
2013 and the Articles of Association of the Company,
Mr.Ajit Thomas, Director retires by rotation at the
39^th Annual General Meeting and being eligible, offer
himself for re-appointment.

A resolution seeking shareholders' approval along
with other required details forms part of the Notice.

ii) Declaration from Independent Directors on
Annual Basis

The Company has received necessary declarations
from all the four Independent Directors of the Company
under Section 149 of the Companies Act, 2013 that the
Independent Directors of the Company meet with the
criteria of their Independence laid down in Section 149
of the Companies Act, 2013 and Regulation 25(8) of
the SEBI (LODR) Regulations 2015.

iii) Key Managerial Personnel

As on March 31, 2025, the following were Key
Managerial Personnel (“KMP”) of the Company as
per Sections 2(51) and 203 of the Act.

• Mr. B Krishna Kumar, President & COO -
Manager (Upto 31.03.2025)

• Mr. A. Ramadas, Sr. Vice President and CFO

• Mr. Sharon Josh, Company Secretary - (Upto
21.07.2024)

• Mr. P Mahadevan, Company Secretary &
Compliance Officer (from 12.11.2024)

During the year under review, the non-executive directors
of the Company had no pecuniary relationship or
transactions with the Company, other than sitting fees,
commission and reimbursement of expenses, if any.

performance of subsidiary/joint venture /

ASSOCIATES

a) AVT Natural SA DE C.V., Mexico (AVTN)

AVT Natural SA DE C.V, Mexico has been
established with an aim to capture market for the
Animal Nutritional products in South American
market and other markets.

The paid-up capital of the Company as on 31^st
March 2025 is Mexican Peso (Mxn) 0.54 million
and there is no change therein since then. AVTN is
the marketing arm of your Company for the animal
nutrition products. The AVTN recorded sales of
Rs.11.93 crores and Loss of Rs.1.85 crores, for the
year 2024-25

b) AVT Natural Europe Limited, UK (AVTNEL)

The paid up capital of the Company as on 31^st March
2025 is Pound Sterling (GBP) 1.535 million and
there is no change therein since then. AVTNEL is the
marketing arm of your Company for de-caffeinated
tea and instant tea. The AVTNEL recorded sales of
Rs.122.18 crores (previous year Rs.108.62 crores)
and profit of Rs.2.58 crores (previous year Rs.3.85
crores) for the year 2024-25.

c) AVT Natural FZCO (AVT Dubai)

A wholly owned subsidiary was incorporated by the
company on 28^th March 2023 in Dubai for marketing
the Animal nutrition products, food additives, cosmetic
and nutraceutical ingredients with a paid up capital of
AED 22,30,000.

The AVT Natural FzCO recorded sales of Rs.37.95
crores and profit of Rs.4.29 crores for the year 2024-25

Step down subsidiary Companies

AVT Natural Europe Limited, London has one wholly
owned subsidiary AVT Natural North America Inc

i) AVT Natural North America Inc

The paid up capital of the Company as on 31^st March
2025 is USD 60,000 and there is no change therein
since. During the year, the company recorded sales
of Rs.11.81 crores and profit of Rs.0.81 crores for
the year 2024-25.

d) Accounts of subsidiaries

Pursuant to Section 136 of the Companies Act, 2013,
a copy of the audited financial statements of AVT
Natural Europe Ltd., AVT Natural S.A. DE C.V. and
AVT Natural FzCO for the period ended 31.03.2025,
shall be provided to any shareholder, free of cost
on their request. The Audited financial statements
are also available on the website of the Company.
The Consolidated financial statements, audited by
the statutory auditors of the Company, have been
attached to this Report.

Pursuant to Section 129(3) of the Companies Act,
2013, a statement containing the salient features of
the financial statements of AVTN, AVTNE & its step-
down subsidiary and AVTFzCO in the prescribed
Form AOC-1 is provided in the Page No. 147 of
Annual report.

e) Joint Venture / Associate Company

The Company does not have any Joint Ventures /
Associate Companies

f) Policy for determining material subsidiary

The Company has a Policy for determining Material
Subsidiary, which is hosted on the Company website
under the link www.avtnatural.com/investor_relations.

CONSERVATION Of ENERGY, TECHNOLOGY,
ABSORPTION, FOREIGN EXCHANGE EARNINGS
AND OUTGO

The particulars prescribed by the section 134 (3) (m) of the
Companies Act 2013, read with Rule 8 of the Companies
(Accounts) Rules, 2014 relating to Conservation of Energy,
Technology Absorption, Foreign Exchange earnings and
outgo are furnished in the Annexure-I to this Report.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Pursuant to the provisions of Section 135 of the
Companies Act 2013, a CSR Committee comprising
Board of Directors was formed to recommend.

i. The policy on Corporate Social Responsibility
(CSR) and

ii. Implementation of the CSR Projects

Annual Report on CSR in the prescribed format is enclosed
as Annexure - II. The CSR policy of the Company has
been uploaded on the web site: www.avtnatural.com /
investor_relations.

CONTENTS OF CSR POLICY

TThe Company's CSR projects and programs will be the
focus on the holistic development of host communities
to create social, environmental and economic value to
society.

The Company will invest resources in any program such
as skill development, infrastructure development, women
empowerment, Promotion of Health Care, Old age homes
/ day care facilities for Senior Citizens, Education, Swatch
Bharath, and all other activities envisaged in the Schedule
VII of the Companies Act 2013.

STATUTORY AUDITORS

Pursuant to section 139 and 142 of the Companies Act,
2013, the members in their 36^th Annual General Meeting
held on 24.08.2022 appointed M/s. Suri & Co, Chartered
Accountant (Firm Registration No.004283S) as the
Statutory Auditors of the Company for a period of 5 years
till the conclusion of the 41^st Annual General Meeting.
In view of the amendment to the Companies Act 2013
notified by the Ministry of Corporate Affairs dated 7^th May
2018, no longer their appointment needs to be ratified by
the Members.

AUDITORS' REPORT

There are no qualifications or adverse remarks mentioned
in the Auditors' report. The notes to accounts, forming part
of financial statements, are self-explanatory and need no
further clarification

SECRETARIAL AUDITORS

Pursuant to Section 204 of Companies Act, 2013 read with
Rule 9 of Companies (Appointment and Remuneration
of Managerial personnel) 2014 and Regulation 24A of
SEBI(Listing Obligations and Disclosure Requirements),
Regulations, 2015, the Board of Directors in their meeting
held on May 28, 2025 approved the appointment of

M/s.V Suresh & Associates as the Secretarial Auditor of the
company for a period of 5 consecutive years w.e.f FY 2025¬
26 based on the recommendations of the Audit Committee
of the Company. The said appointment is subject to the
approval of the shareholders at this Annual General Meeting
of the Company.

SECRETARIAL AUDIT REPORT

Pursuant to the provisions of Section 204 of the
Companies Act, 2013 and the Companies (Appointment
and Remuneration of Managerial Personnel) Rules 2014,
the Company has appointed M/s. V Suresh Associates,
Practicing Company Secretaries (C.P. No.6032), Chennai -
600 018 to undertake the Secretarial Audit of the Company.

The Secretarial Audit Report in form MR-3, submitted by
the Secretarial Auditors for the financial year 2024-25, is
annexed to this report as Annexure III and forms an integral
part of this Report.

During the year, the Company has complied with the
Secretarial Standard -1 (SS-1) and Secretarial Standard -2
(SS-2) issued by the Ministry of Corporate Affairs.

COST RECORDS & AUDIT REPORT

Cost Audit is not applicable to the Company as per the
Companies (Cost Records & Audit) Rules, 2014, however,
the cost records are maintained by the Company.

REPORTING OF FRAUD

The Auditors of the Company have not reported any
fraud as specified under section 143 (12) of the Companies
Act, 2013.

INSURANCE

The Company continues to carry adequate insurance for
all assets, against unforeseeable perils.

RELATED PARTY TRANSACTIONS

All transactions entered with related parties for the year
under review were at arm's length basis and in the
ordinary course of business and hence the provisions of

Section 188 of the Companies Act, 2013 are not attracted.
There were no related party transactions exceeding 10%
of the annual consolidated turnover as per the last audited
financial statements during the year.

Further, there were no material related party transactions
during the year under review with the Promoters, Directors
or Key Managerial Personnel or other designated
persons which may have a potential conflict in the interest
with Company at large. The disclosure of Related Party
transactions to be provided under section 134 (3)(h)
of the Companies Act 2013, read with Rule 8(2) of the
Companies (Accounts) Rules, 2014 in Form AOC -2 is
given in the Annexure IV, forming part of this report.

As per the SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015, all the related party
transactions were placed before the Audit Committee and
also the Board of Directors. Prior approval of the Audit
Committee was obtained on yearly / quarterly basis for
the transactions entered with related parties, except with
the wholly owned subsidiary Companies, whose accounts
are consolidated with the Company. The transactions
entered into pursuant to the omnibus approval so granted
has been placed before the Audit Committee and the
Board of Directors for their approval on a quarterly basis.

The Company has a Related Party Transaction policy and
the same is hosted on the website of the Company under
the link www.avtnatural.com/investor_relations.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY
THE REGULATORS AND COURTS

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

ANNUAL RETURN

In terms of the requirements of Section 92(3) read with
134(3)(a) of the Companies Act, 2013 read with the
Companies (Accounts) Rules, 2014 the copy of the
Annual Return in prescribed format is available on the
website of the Company. www.avtnatural.com.

STATUTORY Information

The information 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 in respect of the Company have
been given in the Annexure V.

The information under section 197 of Companies Act 2013
and pursuant to rule 5 (2) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014,
are given in the Annexure VI.

The statement containing remuneration paid to
employees and other details as required under Section
197(12) of the Companies Act, 2013 read with Rule
5(2) of the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014, is provided in a
separate annexure forming part of this report. Further, the
report and the accounts are being sent to the members
excluding the aforesaid annexure. In terms of Section 136
of the Act, the said annexure is open for inspection at the
Company's Registered Office during, business hours of
all the working days of the Company, upto the date of
the forthcoming Annual General Meeting. Any member
interested in obtaining a copy of the same may write to
the Company Secretary and the same will be provided
free of cost to the member.

INDUSTRIAL RELATIONS

Your Company during the year under review, enjoyed
cordial relationship with technicians/workers and
employees at all levels.

NOMINATION AND REMUNERATION POLICY

The Board on the recommendation of the Nomination &
Remuneration Committee framed a policy for selection
and appointment of Directors, Senior Management
Personnel, Key Managerial Personnel and their
remuneration etc. A copy of the policy is uploaded on the
web site of the Company and the website link is www.
avtnatural. com/investor_relations.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has a Vigil Mechanism / Whistle Blower
Policy in place pursuant to Section 177 (9) of the
Companies Act 2013 and as per the Regulation 22 of
SEBI (Listing Obligations and Disclosure Requirements)
Regulations 2015. The said policy is available on the
website of the Company which can be accessed from the
link - www.avtnatural.com During the year no instances
of unethical behavior were reported.

RISK MANAGEMENT

Pursuant to section 134(3)(n) of the Companies Act
2013 and Regulation 21 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations 2015, the Board
of Directors has formed a Risk Management Committee
to frame, implement and monitor the risk management
plan. The Committee is responsible for reviewing the risk
management plan and ensuring its effectiveness. The
Committee considers the risks that impact mid to long-term
objectives of the business, including those reputational in
nature. The Audit Committee has additional oversight in
the area of financial risks and controls.

The company has a risk policy defining risk management
governance model, risk assessment and prioritization
process. The Risk Management Committee adopted a

follow-up risk management framework to review and
monitor the key risks and their mitigation measures
periodically and provide an update to the Board on
Company's risks. The Audit Committee has an additional
oversight on financial risks and controls.

ADEQUACY OF INTERNAL AUDIT AND INTERNAL
FINANCIAL CONTROL

The Company has in place adequate Internal Audit and
Internal Financial Controls with reference to the financial
statements, which is evaluated by the Audit Committee as
per Part C of Schedule II of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations 2015.

Apart from Statutory Audit, your Company, in compliance
with Section 138 of the Companies Act, 2013, had engaged
M/s Sundar Sridhar Srini, Chartered Accountants, I Floor,
New No 9, Rajamannar Street, T.Nagar, Chennai - 600017
as the Internal Auditors of the Company for the financial
year 2024-25. Findings and observations of the Internal
Auditors are discussed, and suitable corrective actions
are taken as per the directions of the Audit Committee
on an on-going basis to improve efficiency in operations.

The Company's internal control systems are well
established and commensurate with the nature of its
business and the size and complexities of operations and
adequate with reference to the financial statements as
envisaged under the Companies Act, 2013.

Your directors endorse that during the year under review,
there were no reportable material weaknesses in the
present systems or operations of internal controls.

ENVIRONMENT AND Safety

The Company is conscious of the importance of
environmentally clean and safe operations. The
Company's policy requires conduct of operations in
such a manner, so as to ensure safety of all concerned,
compliances environmental regulations and preservation
of natural resources.

BOARD EVALUATION

The Board of Directors has made a formal annual
evaluation of its own performance and that of its
committees, individual Directors & CEO, pursuant to the
provisions of the Companies Act, 2013 and SEBI (Listing
Obligations and Disclosure Requirements) Regulation,
2015. The evaluation was done based on the evaluation
criteria formulated by Nomination and Remuneration
Committee which includes criteria such as fulfilment
of specific functions prescribed by the regulatory
framework, adequacy of board meetings, attendance and
effectiveness of the deliberations etc.

Each Board member completed a questionnaire
providing feedback on the functioning and overall level
of engagement of the Board and its committees on the
parameters such as the composition, execution of specific
duties, contribution of new ideas/insights, quality, quantity,
and timeliness of flow of information, deliberations at
the meeting, independence / non-partisan approach in
decision making etc.,

Independent Directors met on 12^th February 2025 to review
performance evaluation of Non-Independent Directors
and the entire Board of Directors including the Chairman,
Non-Executive Directors etc., The Independent Directors
were satisfied with the overall functioning of the Board,
flow of information to the Board, its various Committees
and of the performance of other Non-executive Directors
and the Chairman of the Board.

DISCLOSURE OF ACCOUNTING TREATMENT

The Company has adopted the Indian Accounting
Standards (Ind AS) with effect from 1^st April 2017, the
Ind AS 115 with effect from 1^st April 2018 & the Ind AS
116 with effect from 1^st April 2019 and all its financial
statements are made according to the said standards.
Further, in the preparation of the financial statements,
the Company has followed the Accounting Standards
referred to in Section 133 of the Companies Act, 2013.
The significant accounting policies which are applied are
set out in the Notes to the Financial Statements.

DEPOSIT FROM PUBLIC

The Company has not accepted any deposits from the
public during the year under review. No amount on
account of principal or interest on deposits from the public
was outstanding as on March 31, 2025.

BUSINESS RESPONSIBILITY & SUSTAINABILITY
REPORT

The Business Responsibility and Sustainability Report
indicates the Company's performance against the
principles of the 'National Guidelines on Responsible
Business Conduct'. This would enable the Members
to have an insight into Environmental, Social and
Governance initiatives of the Company.

The Business Responsibility and Sustainability Report in
compliance with the regulation 34(f) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations
2015 have been attached in the Annexure VII to this Report.

CORPORATE GOVERNANCE

Your Company has taken adequate steps to adhere to
all the stipulations laid down in Regulation 27 read with
Part E of Schedule II and Schedule V of SEBI (Listing
Obligations and Disclosure Requirements) Regulations

2015 on corporate Governance. The Management
Discussion & Analysis Report, Report on Corporate
Governance with Auditors' Certificate on compliance with
conditions of Corporate Governance have been Annexed
IX to this Report.

DISCLOSURE UNDER THE SEXUAL HARASSMENT
OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013

The Company has in place an Anti-Sexual Harassment
Policy in line with the requirements of the Act and that
an Internal Complaints Committee has been set up
for redressal of complaints and that all employees
(permanent, contractual, temporary, trainees) are covered
under this policy.

During the year under review
Number of complaints received in the year: Nil
Number of complaints disposed off during the year: Nil
Number of cases pending for more than 90 days: Nil
Number of Workshop or awareness Program:

2 Workshops and 2 training Program

Nature of Action taken by the employer or District Officer:

Nil

CAUTIONARY STATEMENT

Statements in this Directors' Report & Management
Discussion and Analysis Report describing the Company's
objectives, projections, estimates, expectations, or
predictions may be 'forward looking statements' within
the meaning of applicable securities laws and regulations.
Actual results could differ materially from those expressed
or implied. Important factors that could make difference
to the Company's operations include raw material
availability and its prices, cyclical demand and pricing in
the Company's principle markets, changes in Government
regulations, Tax regimes, economic developments within
India and the countries in which the Company conducts
business and other ancillary factors.

During the year no application has been made and
there are no proceeding pending as per Insolvency and
Bankruptcy Code 2016.

The Company has not raised funds through preferential
allotment or qualified institutions placement during the
financial year 2024-25.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134 (3) (c)
of the Companies Act, 2013, with respect to Directors'
Responsibility Statement, it is hereby confirmed that:

1. In the preparation of the accounts for the financial
year ended 31^st March 2025, 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 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 of the Company for that period;

3. 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;

4. The Directors have prepared the accounts for the
financial year ended 31^st March 2025 on a 'going
concern' basis.

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

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

ACKNOWLEDGEMENT

The Directors sincerely acknowledge the contribution and
support from customers, shareholders, farmers, BSE Ltd.,
National Stock Exchange of India Ltd., Cameo Corporate
Services Ltd., National Securities Depository Ltd., Central
Depository Services Ltd., and other stakeholders for the
co- operation and assistance provided to the Company.

The Directors also place on record their gratitude to the
employees for their continued support, commitment,
dedication and co-operation.

For and on behalf of the Board

Place : Chennai Ajit Thomas

Date : 28^th May 2025 Chairman