AFFLUENCE

During the year under review, your Company has recorded revenue from operations (net) of Rs. 899.14 Crorein comparison to previous year of Rs. 779.22 Crore, thus registered healthy growth of 15.38% from last year.

The information pertaining to conservation of energy, as required under Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 are provided in Annexure-"5"

The company has been at the forefront of technology adoption. It has regularly invested in equipping itself with automated technology with latestproduction processes and techniques to achieve high level of productivity and operational efficiencies. Besides, technology has also helped delivering innovative product offerings in a timely manner. (i) The efforts made by the Company towards technology absorption, few are mentioned hereunder: 1. Upgrading of the Conveyer belts at the plant and Finished Good Loading Docks. 2. Installation of new and modernised packing machine. 3. Developed the ability to produce different products on different manufacturing lines. 4. Increased throughout on one production line. (ii) The benefits derived like product improvement, cost reduction, product development or import substitution: 1. Development of a new carton resulted in substantial cost saving. 2. The ability to produce different products on each production line has given greater flexibility in managing production thereby potentially enabling higher capacity utilization. 3. Increased throughput on one production line has resulted in better capital utilization. (iii) In case of imported technology (imported during the last three years reckoned from the beginning of the financial year):Not Applicable (iv) The expenditure incurred on Research and Development: As Research & Development is part of the ongoing quality control and manufacturing costs, the Expenditure is not separately allocated and identified.

There were foreign exchange earnings and outgo during the year under review. Details are as follows: (In Lakhs) Particulars 2018-19 2017-18 a) C.I.F. Value of Imports: Capital Goods 579.30 578.57 b) Expenditure in Foreign Currency: Foreign Currency used for foreign travelling 18.73 34.41 Purchase of Raw Material 33.8 c) Earning in Foreign Currency Export Sale 2390.5 2019.05 Reimbursement of Export Incentive NIL 0.52

Pursuant to Section 134(5) of the Companies Act, 2013 the Board of Directors of the Company confirms that- (a) In the preparation of the annual financial statements for the financial year ended March 31, 2019, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any; (b) The directors had 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) 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 directors had prepared the annual accounts on a going concern basis; (e) They have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and are operating effectively; and (f) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.