APM Industries Ltd

To the Members,

The Board of Directors are pleased to present the 50th (Fiftieth) Annual Report of the Company, together with the Audited Financial Statements for the financial year ("FY") ended March 31, 2024.

1. FINANCIAL RESULTS

The Company's financial performance for the FY ended March 31, 2024 is summarised below:-

(Rs. in lakhs)

2. STATE OF COMPANY AFFAIRS & OPERATIONS

The Company is engaged in the business of manufacturing and selling of manmade fibers yarn in India and operates in one segment only. During the FY 2023-24:-

• Production of yarn maintained at 209 lakh kilograms as against 209 lakh kilograms in the previous year, there was no change in production of the Company during the year.

• Revenue from operations decreased to Rs. 29,985 lakhs as against Rs. 36,049 lakhs in the previous year, which is decrease of 16.82%.

• Profit before tax decreased to Rs. 392 lakhs as against Rs. 3,029 lakhs in the previous year, which is decrease of 87.06%.

• Profit after tax decreased to Rs. 417 lakhs as against Rs. 2,135 lakhs in the previous year, which is decrease of 80.47%.

• Basic and diluted EPS decreased to Rs. 1.93 as against Rs. 9.88 in the previous year, which is decrease of 80.47%.

The main reason for the decline in profitability is the subdued demand for the Company's products. Lack of export demand due to geopolitical tensions, recession and slowdown in Eu-rope, Turkey, US and UK had an impact on the Company's market which faced challenges in demand and pricing pres-sure leading to decline in overall revenue from operations. The Company has charged depreciation on property, plant and equipment as per the provisions of Schedule of the Compa-nies Act, 2013 ("the Act"). The Company has prepared its Fi-nancial Statements as per applicable provisions of IND-AS (In-dian Accounting Standards) for the FY 2023-24.

3. CHANGE IN THE NATURE OF BUSINESS, IF ANY

There is no change in the nature of business of your Company during the year under review.

4. TRANSFER TO RESERVES

The Board of Directors does not transfer any amount out of the profit for the year under review to the general reserve.

5. EXPORTS

During the FY 2023-24, the Company has no exports because its thrust area is the domestic market, as its products are well recognized in the domestic market, and have better profitability there as compared to the export market.

6. DIVIDEND

Based on the Company's performance, your Directors are pleased to recommend a final dividend of Rs. 0.50/- (i.e. 25%) per equity share of Rs. 2/- each fully paid up. The payment of the final dividend is subject to the approval of the shareholders at the forthcoming Annual General Meeting ("AGM") of the Company and shall be subject to deduction of tax at source.

7. EXPANSION AND MODERNIZATION

Your Company continues its policy for modernization and up-gradation on a regular basis. During the year under review, the Company invested Rs. 10.82 crores for modernization of its production capacities. This will help to reduce operating cost, improve quality and increase profitability.

The production capacities remains 55296 spindles as at March 31, 2024.

8. CAPITAL STRUCTURE Authorised Share Capital

The Authorised Equity Share Capital of the Company as at March 31, 2024 was Rs. 4,50,00,000/- (Rupees Four Crore and Fifty Lakh only) comprising of 2,25,00,000 (Two Crore and Twenty Five Lakh) equity shares of Rs. 2/- (Rupees Two) each and Preference Share Capital was Rs. 3,00,00,000/- (Rupees Three Crore only) comprising of 3,00,000 (Three Lakh) prefer-ence shares of Rs. 100/- (Rupees Hundred) each i.e. total au-thorized share capital of the Company was Rs. 7,50,00,000/-(Rupees Seven Crore and Fifty Lakh only).

Paid up Share Capital

The Paid-up Share Capital of the Company as at March 31, 2024 stands at Rs. 4,32,22,720/- (Rupees Four Crore Thirty Two Lakh Twenty Two Thousand Seven Hundred and Twenty only) comprising of 2,16,11,360 (Two Crore Sixteen Lakh Eleven Thousand Three Hundred and Sixty) equity shares of Rs. 2/- (Rupees Two) each fully paid up.

There has been no change in share capital of the Company during the FY 2023-24.

9. SUBSIDIARIES/JOINT VENTURES/ASSOCIATE COMPANIES

The Company doesn't have any Subsidiary, Joint Venture or Associate Company.

10. DIRECTORS AND KEY MANAGERIAL PERSONNEL

Cessation of Directors

During the year, below mentioned are ceased to be Directors of the Company:-

• Shri Shri Gopal Rajgarhia (DIN: 00002245) ceased to be Non-Executive Director of the Company with effect from November 10, 2023, due to his demise. He joined the Board in the year 2000. He was a Member of the Audit Committee. The Board places on record its sincere appreciation for his valuable contribution and guidance towards the success of the Company, during his tenure as Non-Executive Director on the Board of the Company.

• Shri Ram Ratan Bagri (DIN: 00275313) resigned as an Independent Director of the Company with effect from close of business hours of December 04, 2023. He joined the Board in the year 2003. He was a Member of the Audit Committee, Nomination and Remuneration Committee, Stakeholder's Relationship Committee and Corporate Social Responsibility Committee. The Board places on record its sincere appreciation for his outstanding contribution towards the success of the Company, during his tenure as an Independent Director on the Board of the Company.

• Shri Khushi Ram Gupta (DIN: 00027295) ceased to be an Independent Director of the Company with effect from close of business hours of March 31, 2024, upon completion of his second term of appointment as an Independent Director. He joined the Board in the year 1993. He was the Chairman of the Audit Committee, Nomination and Remuneration Committee and Stakeholder's Relationship Committee. The Board places on record its sincere appreciation for his outstanding contribution towards the success of the Company, during his tenure as an Independent Director on the Board of the Company.

Appointment of Directors

The Board of Directors at their meetings held on November 21, 2023 and January 10, 2024, based on the recommendations of the Nomination and Remuneration Committee, inter alia, approved the following appointments, respectively, to the Board of Directors of the Company, subject to the approval of the shareholders of the Company:-

• Appointment of Shri Deepak Vishwanath Harlalka (DIN: 00170335) as an Additional Director in the category of Non-Executive, Non-Independent Director of the Company with effect from November 21, 2023 and liable to be retire by rotation.

• Appointment of Shri Manish Garg (DIN: 01324631) as an Additional Director in the category of Independent Director of the Company for a period of five years with effect from November 21, 2023 to November 20, 2028.

• Appointment of Smt. Nirmala Bagri (DIN: 01081867) as an Additional Director in the category of Non-Executive, Independent Director of the Company for a period of five years with effect from January 10, 2024 to January 09, 2029.

In terms of Rule 8(5) (iiia) of the Companies (Accounts) Rules, 2014, in the opinion of the Board, all appointments of Independent Directors during the FY were made after due veracity of their experience, integrity, expertise and relevant proficiency which will add tremendous value to the Board in exercising their role effectively.

The requisite declarations and eligibility confirmations under the provisions of the Act and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") were received from Shri Deepak Vishwanath Harlalka, Shri Manish Garg and Smt. Nirmala Bagri for considering their appointment as Directors.

The appointment of Shri Deepak Vishwanath Harlalka, Non-Executive Director, Shri Manish Garg, Independent Director and Smt. Nirmala Bagri, Independent Director of the Company for the term as mentioned above was subsequently approved by the shareholders of the Company through ordinary/special resolutions, as required, which was passed with the requisite majority by way of postal ballot via remote e-voting on February 11, 2024. Details of the same are provided in the Report of Corporate Governance, forming part of this Annual Report.

Re-appointment of Directors

The Board of Directors at their meetings held on January 10, 2024, based on the recommendations of the Nomination and Remuneration Committee, inter alia, approved the following re-appointments to the Board of Directors of the Company, subject to the approval of the shareholders of the Company:-

• Re-appointment of Shri Rajendra Kumar Rajgarhia (DIN: 00141766) as Whole time Director and Chairman of the Company for further period of three years with effect from June 01, 2024 to May 31, 2027.

• Re-appointment of Shri Hari Ram Sharma (DIN: 00178632) as Managing Director of the Company for further period of three years with effect from June 01, 2024 to May 31, 2027.

The requisite declarations and eligibility confirmations under the provisions of the Act and SEBI Listing Regulations were received from Shri Rajendra Kumar Rajgarhia and Shri Hari Ram Sharma for considering their re-appointment as Whole time Director and Managing Director respectively.

The appointment of Shri Rajendra Kumar Rajgarhia as Whole time Director and Chairman and Shri Hari Ram Sharma as Managing Director of the Company for the term as mentioned above was subsequently approved by the shareholders of the Company through special resolutions passed with the requisite majority by way of postal ballot via remote e-voting on February 11, 2024. Details of the same are provided in the Report of Corporate Governance, forming part of this Annual Report.

Retirement by rotation and subsequent re-appointment

In terms of Articles of Association of the Company and provisions of the Act, Shri Deepak Vishwanath Harlalka (DIN: 00170335), Non-Executive Director of the Company, is liable to be retire by rotation at the ensuing AGM and being eligible, offered himself for re-appointment. Based on recommendation of the Nomination and Remuneration Committee, the Board of Directors recommends his re-appointment for consideration by the shareholders of the Company at the ensuing AGM as Non-Executive Director of the Company, liable to be retire by rotation. Brief profile of Shri Deepak Vishwanath Harlalka with other details as stipulated in Regulation 36(3) of the Listing Regulations and Secretarial Standard on General Meetings issued by ICSI, are provided in the Notice convening the 50th AGM.

Except as stated above, there was no change in the Directors or Key Managerial Personnel of the Company, during the year under review.

Declaration by Independent Directors

All the Independent Directors of the Company have given their declaration to the Company under Section 149(7) of the Act that they meet the criteria of independence as provided under Section 149(6) of the Act read with Regulation 16(1)(b) of the Listing Regulations and are not disqualified from continuing as Independent Directors and that they have registered themselves as an Independent Director in the data bank maintained with the Indian Institute of Corporate Affairs. The Company has also received declaration from the Independent Directors that they have complied with the code of conduct of Directors and Senior Management. Based on the disclosures received, the Board is of the opinion that, all the Independent Directors fulfill the conditions specified in the Act and Listing Regulations and are independent of the management.

Annual Performance Evaluation of the Board

The Board adopted a formal mechanism for evaluating its performance as well as of its Committees and individual Directors, including the Chairperson of the Board. The evaluation was carried out through a structured questionnaire covering various aspects of the functioning of Board and its Committees. The detailed process in which annual evaluation of the performance of the Board, its Chairperson, its Committees and of individual Directors is disclosed in the Corporate Governance Report attached to this Report.

Meetings of the Board

During the year, eight meetings of the Board of Directors were held. The details of the meetings of the Board and its Committees are provided in the Corporate Governance Report, attached to this Report.

11. DEPOSIT UNDER CHAPTER V OF THE COMPANIES ACT, 2013

The Company has not invite/accept any deposits covered under Chapter V of the Act. Accordingly, no disclosure or reporting is required in respect of details relating to deposits covered under the said Chapter.

12. AUDITORS AND AUDITOR'S REPORT

Statutory Auditors

In terms of the provisions of Section 139 of the Act, M/s Chaturvedi & Partners, Chartered Accountants (Firm Registration No.: 307068E), were re-appointed as Company's Statutory Auditors by the shareholders at their 48th AGM held on September 22, 2022, for second term of 5 (Five) consecutive years i.e. till the conclusion of the 53rd AGM of the Company, to be held in year 2027.

The Auditors' Report read together with Annexures referred to in the Auditors' Report for the FY ended March 31, 2024 does not contain any qualification, reservation, adverse remark or disclaimer.

Secretarial Auditor

In terms of provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors of the Company, on recommendation of Audit Committee, had appointed M/s. RSM & Co. (ICSI Firm Registration No.: P1997DE017000), Company Secretaries, to undertake the Secretarial Audit of the Company for the FY 2023-24. The Secretarial Audit Report is attached as Annexure-1 to this report. The Secretarial Audit Report does not contain any qualification, reservation, adverse remark or disclaimer.

The Board of Directors of the Company, on the recommendation made by the Audit Committee, has re-appointed M/s RSM & Co., Company Secretaries, as the Secretarial Auditors to conduct an audit of the secretarial records for the FY 2024-25, based on the confirmation of the eligibility and consent received from M/s RSM & Co. The Secretarial Auditor has confirmed that they are not disqualified to be appointed as such.

Cost Auditor

In terms of provisions of Section 148 read with Companies (Audit and Auditors) Rule, 2014, the Board of Directors of the Company, on recommendation of Audit Committee, had appointed Shri Naresh Kumar Goel, Cost Accountant (Membership No.: 9876), as the Cost Auditor of the Company for the FY 2023-24 at a remuneration of Rs. 55,000/- plus applicable taxes and reimbursement of out-of-pocket expenses incurred in this connection.

The Company has maintained cost records for certain products as specified by the Central Government under Section 148(1) of the Act. Shri Naresh Kumar Goel, the Cost Auditor, is in the process of carrying out the cost audit for applicable products during the FY 2023-24.

The Board of Directors of the Company, on the recommendation made by the Audit Committee, re-appointed Shri Naresh Kumar Goel, Cost Accountant as the Cost Auditor of the Company to conduct the audit of cost records of applicable products for the FY 2024-25. Shri Naresh Kumar Goel, being eligible, has consented to act as the Cost Auditor of the Company for the FY 2024-25 and have confirmed that he is not disqualified to be appointed as such. The remuneration proposed to be paid to the Cost Auditor, subject to ratification by the members of the Company at the ensuing AGM.

Internal Auditor

In terms of provisions of Section 138 of the Act and the Companies (Accounts) Rules, 2014, the Board of Directors of the Company, on the recommendation of Audit Committee, re-appointed M/s M M Sharma & Co., Chartered Accountants (Firm Registration No.: 001797N), as an Internal Auditors of the Company, for the FY 2023-24. There are no qualifications, reservations, adverse remarks, disclaimer or emphasis of matter in the Internal Auditor's Reports.

The Board of Directors of the Company, on the recommendation made by the Audit Committee, re-appointed M/s M M Sharma & Co., Chartered Accountants, as the Internal Auditors of the Company for the FY 2024-25. M/s M M Sharma & Co., being eligible, have consented to act as the Internal Auditors of the Company for the FY 2024-25.

Reporting of Frauds by Auditors

None of the Auditors of the Company has identified and re-ported any fraud as specified under the second proviso of Sec-tion 143(12) of the Act, therefore no disclosure is required under Section 134(3)(ca) of the Act.

13. DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134 of the Act (including any statutory modification(s) and/or re-enactment(s) thereof for the time being in force), with respect to Directors' Responsibility

Statement, it is hereby confirmed that:-

• in the preparation of the annual accounts for the FY ended March 31, 2024, the applicable accounting standards have been followed and there are no material departures from the same; • the Directors have selected such accounting policies and applied them consistently and made judgments and esti-mates 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 FY i.e. March 31, 2024 and of the profit of the Company for the FY ended March 31, 2024; • 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; • the Directors have prepared the annual accounts on a going concern basis; • the Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and • the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

14. INTERNAL FINANCIAL CONTROLS

Your Company has in place adequate internal financial control systems commensurate with the size of operations. The policies and procedures adopted by your Company ensures the orderly and efficient conduct of business, safeguarding of assets, prevention and detection of frauds and errors, adequacy and completeness of the accounting records, and timely preparation of reliable financial information. The entire system is monitored by Internal Audit team of an external firm of Chartered Accountants.

The internal auditors of the Company conduct regular internal audits and the Audit Committee reviews periodically the adequacy and effectiveness of internal control systems and takes steps for corrective measures whenever required.

15. CORPORATE SOCIAL RESPONSIBILITY

The Company has in place Corporate Social Responsibility Policy (‘CSR Policy') which outlines the Company's philosophy and responsibility and lays down the guidelines and mechanism for undertaking socially impactful programs towards welfare and sustainable development of the community around the area of its operations. The CSR Policy is disclosed on the Company's website at https://www.apmindustries.co.in/investors/policies-codes/. In terms of Section 135 of the Act read with Rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended, the Annual Report on Corporate Social Responsibility Activities for FY 2023-24 is attached as Annexure-2 to this Report. For other details regarding the CSR Committee, please refer to the Corporate Governance Report, which is a part of this report.

16. AUDIT COMMITTEE

As on date, the Audit Committee comprises of Shri Manish Garg, Chairman and Shri Deepak Vishwanath Harlalka, Smt. Nirmala Bagri and Smt. Uma Hada, Members of Committee.

All the recommendations made by Audit Committee were accepted by the Board of Directors.

Further, details on Audit Committee is provided in the Corporate Governance Report attached to this Report.

17. NOMINATION AND REMUNERATION POLICY

The Company has ‘Nomination and Remuneration Policy' for Directors, Key Managerial Personnel and Senior Management/ other employees of the Company, specifying criteria for deter-mining qualifications, positive attributes, independence of a director and other matters which is disclosed on the website of the Company, web link for the same is https:// www.apmindustries.co.in/investors/policies-codes. The salient features of the Policy have been disclosed in the Corporate Governance Report forming an integral part of this Board's Report.

18. PARTICULARS OF CONTRACTS OR ARRANGEMENTS

WITH RELATED PARTIES

All contracts, arrangements and transactions entered by the Company during FY 2023-24 with related parties were in the ordinary course of business and on arm's length basis and were approved by the Audit Committee. The Board of Directors of the Company had laid down the criteria for granting the omnibus approval by the Audit Committee for the transactions which are repetitive in nature, in line with the Company's Policy on Materiality of Related Party Transactions and dealing with Related Party Transactions (‘RPT Policy'). During the year, the Company had not entered into any materially significant transaction with related parties as defined in the RPT Policy. Accordingly, the disclosure of Related Party Transactions under Section 188(1) of the Act in Form AOC-2 is not applicable. Related Party disclosures have been disclosed in Note No. 54 to the Financial Statements forming part of the Annual Report. The RPT Policy is disclosed on the Company's website at https://www.apmindustries.co.in/investors/policies-codes/.

19. CONSERVATION OF ENERGY, TECHNOLOGY

ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

The information on the conservation of energy, technology absorption and foreign exchange earnings and outgo as stipulated under Section 134(3)(m) of the Act read with Rule 8 of the Companies (Accounts) Rules, 2014, is attached as Annexure-3 to this Report.

20. RISK MANAGEMENT

The risk management framework is designed to identify, evaluate and assess business risks and their impact on Company's business. The risk assessment and minimization procedures are reviewed by the Board periodically to ensure that executive management controls risk through the mechanism of a properly defined framework. The framework is aimed at creating and protecting stakeholder's value by minimizing threats and losses besides identifying and maximizing opportunities.

21. PARTICULARS OF EMPLOYEES

The disclosure required under Section 197 of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed as Annexure-4 to this Report.

As per the provisions of Section 136(1) of the Act, the Annual Report and the Accounts are being sent to all the members of the Company, excluding the information required under Sec-tion 197(12) of the Act read with Rule 5(2) and 5(3) of Compa-nies (Appointment and Remuneration of Managerial Person-nel) Rules, 2014. Any member interested in obtaining such information may write to the Company Secretary at the Regis-tered Office. The said information is also available for inspec-tion at the Registered Office during working hours up to the date of the ensuing Annual General Meeting.

22. ANNUAL RETURN

In terms of Sections 92(3) and 134(3)(a) of the Act, annual return is available under the ‘Investors' section of the Company's website and can be viewed at the following link: https://www.apmindustries.co.in/investors/reports-returns/annual-returns/.

23. CORPORATE GOVERNANCE

The Corporate Governance philosophy of the Company is a reflection of principles entrenched in our values and policies and also embedded in our day-to-day business practices, lead-ing to value-driven growth. Aligning itself to this philosophy, the Company has placed Corporate Governance on a high priority.

A detailed Report on Corporate Governance pursuant to the requirements of Regulation 34 read with Schedule V of the Listing Regulations, is attached as Annexure-5 to this Report. A certificate from the Practicing Company Secretary confirming compliance with the conditions of Corporate Governance, as stipulated in Clause E of Schedule V to the Listing Regulations, is attached to the Corporate Governance Report.

The Board Members and Senior Management Personnel have affirmed compliance with the Code of Conduct for Directors and Senior Management for the year ended March 31, 2024. A certificate from the Managing Director confirming the same is attached to the Corporate Governance Report.

A certificate from the Managing Director and Chief Financial Officer confirming correctness of the financial statements, adequacy of internal control measures, etc. is also attached to the Corporate Governance Report.

24. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report, as stipulated under Listing Regulations, is attached as Annexure-6 to this Report.

25. VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company promotes ethical behavior in its business activities. The Company has a robust vigil mechanism through its Whistle Blower Policy approved and adopted by Board of Directors of the Company in compliance with the provisions of Section 177(10) of the Act and Regulation 22 of the Listing Regulations.

The details of Vigil Mechanism (Whistle Blower Policy) adopted by the Company have been disclosed in the Corporate Governance Report and forms an integral part of this Report.

26. PARTICULARS OF LOAN, GUARANTEES OR

INVESTMENTS

During the FY 2023-24, the Company has not given loans, guarantees and investments as per Section 186 of the Act.

27. COMPLIANCE WITH SECRETARIAL STANDARDS OF IN-STITUTE OF COMPANY SECRETARIES OF INDIA

The Company has complied with the Secretarial Standard-1 on ‘Meetings of the Board of Directors' and Secretarial Stan-dard-2 on ‘General Meetings' issued by the Institute of Com-pany Secretaries of India.

28. OTHER STATUTORY DISCLOSURES

• During the year under review, the Company has not (i) issued any shares, warrants, debentures, bonds, or any other convertible or non-convertible securities (ii) issued equity shares with differential rights as to dividend, vot-ing or otherwise (iii) issued any sweat equity shares to its Directors or employees (iv) made any change in voting rights (v) reduced its share capital or bought back share (vi) changed the capital structure resulting from restruc-turing except split/sub division of equity shares (vii) failed to implement any corporate action.

• The Company's securities were not suspended for trad-ing during the year.

• The disclosure pertaining to explanation for any devia-tion or variation in connection with certain terms of a pub-lic issue, rights issue, preferential issue, etc. is not appli-cable to the Company.

• No significant and material orders passed by the Regulators/Courts/Tribunals which impact the going concern status and Company's operations in future;

• No instance of any one-time settlement with any Banks or Financial Institutions.

• No application has been made under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) ("the IBC, 2016"), hence, the requirement to disclose the details of applica-tion made or any proceeding pending under the IBC, 2016 during the year along with their status as at the end of the financial year is not applicable.

• There have been no material changes and commitment, affecting the financial position of the Company which oc-curred after the close of the FY 2024 till the date of this Report, other than those already mentioned in this Re-port.

29. DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN

AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013

The Company has Zero Tolerance towards any action on the part of any employee which may fall under the ambit of ‘Sexual Harassment' at workplace, and is fully committed to uphold and maintain the dignity of every woman working in the Com-pany.

Hence, the Company has in place a Policy for prevention of Sexual Harassment at the Workplace in line with the require-ments of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013.

Further, the Company has also constituted Internal Complaints Committee in compliance with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

No case has been reported during the year under review.

30. INVESTOR SERVICES

In its endeavor to improve investor services, your Company has taken the following initiatives:-

• The Investors Section on the website of the Company www.apmindustries.co.in is updated regularly for information of the shareholders.

• There is a dedicated e-mail id csapmindustriesltd @gmail.com for sending communications to the Company Secretary and Compliance Officer.

• Disclosure made to the Stock Exchange are promptly uploaded on the website of the Company, as per requirement of Listing Regulations for information of the Investors.

Members may lodge their requests, complaints and suggestions on this e-mail as well.

31. ACKNOWLEDGEMENTS

The Board of Directors place on record sincere gratitude and appreciation for all the Employees of the Company. Our consistent growth has been possible by their hard work, solidarity, co-operation and dedication during the year. The Board conveys its appreciation for its Customers, Shareholders, Suppliers as well as Vendors, Bankers, Business Associates, Regulatory and Government Authorities for their continued support.