Mega Flex Plastics Ltd

Respected Members,

I welcome our esteemed shareholders at the 20th Annual General Meeting of the Company over the video conferencing and all my distinguished Directors, Key Managerial Personnel, Statutory Auditors, Secretarial Auditors, Internal Auditors.

It provides me an immense pleasure to share with you all that it has been two decades since we plunged into the journey of manufacturing Leno Bags, Twisted Sutli and Polypropylene Woven Fabrics with a vision of sustainable environment having only 27 looms. It has increased to 64 looms now with the utmost trust and faith of the farmers towards our brands Lenoflex, Kisan, Kisan Regular, Goldflex, Goldflex To enlarge and intensify the geographical dimensions of the business and its valuation, your Company has: (i) Thrusted into further states, viz., Punjab, UP, Rajasthan, Jammu & Kashmir, Maharashtra through extensive marketing exercise at grass root level.

(ii) Supplied Leno Bags to the illustrious body corporates such as PepsiCo India Holdings Private Limited and ITC Limited.

(iii) Evolved market for our new products PP Woven Fabric and Sutli, which we started last year to diversify our product portfolio.

(iv) Been alloted 6.5 Acres of land in the district of Khurdha from the Odisha Industrial Infrastructure Development Corporation Ltd. In the first phase Company shall set up a manufacturing unit of injection and blow moulded plastic containers.

Despite having upgraded technologies, captive power generationunit, water treatment plant, well equipped laboratory to ensure quality check at all levels of production, we have placed an order for the Leno4P looms on trial basis for producing innovative and specialised leno fabric that can put a new dimension in leno bags. To ensure timely and safe delivery of the products at the remote places, we own a fleet of vehicles. To fund the aforesaid measures including the additional expenses in connection therewith, your Company has made the Issuance of Convertible Equity Share Warrants on a Preferential Basis to the Promoters, Promoter Group and Public and have received 25% i.e. 1,38,60,000 (One Crore Thirty-Eight Lakhs and Sixty Thousands Rupees) of the said Issued Amount i.e. 5,54,40,000 (Five Crores Fifty-Four Lakhs and Forty Thousands Rupees). Being a social and responsible corporate citizen, your Company has undertaken a project of 400 Kw solar in our plant at an investment of Rs. 124.32 Lakhs. The entire Capital Expenditure of the project shall be financed by the Small Industries Development Bank of India (SIDBI) and the general expenses incidental to the project shall be incurred through the internal accruals.

To ensure the safety of all our employees and workers, we had conducted Free Health Medical Check Up including Blood Sugar(RBS) tests, BP tests, lung function Test, ECG etc. of 119 employees at our factory premises. The Check Up was done under the supervision of the 7 members of the Narayana Health, led by Dr P. K. Banga and Dr. S.K. Mallick.

I feel privileged and gratified to share that despite the poor potato crop, your company has been able to sale 70.27 million leno bags as against 61.79 million bags sold in the year 2022-23, an increase of about 13.72%. The revenue for the financial Year 2023-2024 stands at Rs. 4840.68 lakhs.

I express my gratitude towards our team for their constant diligence and endeavours.

We ensure you that at the ensuing time, we shall scale up to the great heights with the continuous expansion and work performance.

I along with the entire team at Mega Flex Plastics Limited, wish for safety and well-being of all our stakeholders. We look forward to share more milestones in the upcoming years and remain grateful to the continuous support and belief of our stakeholders.