AFFLUENCE

Gross Turnover for the current year is Rs 1124 crores, showing increase of 34.62% as compared to the previous year. The Company has reported a profit after tax of Rs 81.46 Crores as compared to a profit of Rs 17.13 Crores in the previous year.

During the year ended March 31st, 2023 a number of measures have been introduced to reduce energy consumption to keep the maximum demand down to the minimum level.

During the year the Company continues to encourage the indigenous industries for import substitution. Wherever possible, imports are avoided and all possible steps are being taken for indigenization. The updating of technology has helped to make available to the customer products of high standard and quality.

FOREIGN EXCHANGE EARNINGS AND OUTGO The details of foreign exchange and outgo are as under: Rs in Lakhs 31-03-2023 31-03-2022 a) Earning at F.O.B Value 27.65 - b) Outgo: i) Import of raw material 127.23 102.33 ii) Foreign Travel 15.13 2.22 iii) Others 60.51 17.61 iv) Capital goods 278.15 - v) Stores, Spares & Packing material 0.57 9.35

DIRECTORS' RESPONSIBILITY STATEMENT U/S 217(2AA): 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 accounts for the year ended March 31, 2023, the applicable accounting standards read with requirements set out under Schedule III to the Act, have been followed and there are no material departures from the same; b) 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 as at March 31, 2023 and of the profit of the Company for the year ended on that date; c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d) the Directors have prepared the annual accounts on a 'going concern' basis; e) 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; and f) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.