AFFLUENCE

Your Company has undertaken many efforts for conservation of energy. Effective utilization of Plant and Machinery at the project sites has been leading to significant energy conservation. • Your Company has bought back 10 number of welding machines over thyristor machines. This has resulted in energy savings amounting to Rs. 6.4 lacs per annum. • Your Company has upgraded has its existing PLC controlled SAW machines. This has resulted in energy savings amounting to Rs. 1.3 lacs per annum. • Your company has made provision to provide refrigerated air dryerto the compressed air from the plasma machines. This has resulted in cost savings amounting to Rs. 2.18 lacs per annum. • Your Company has replaced Low Dropout (LDO) by Liquid Petroleum Gas (LPG) resulting in fuel & energy savings of approximately Rs. 36lacs per annum. • Your Company has replaced the sheds of its fabrication units with FRP transparent sheets. This has resulted in energy savings amounting to Rs. 0.75 lacs per annum. • You Company has installed Variable Frequency Drive (VFD) to control the utilization of power by heavy duty motors;

During Year 2022-23 Rs. (In Crores) Actual Foreign Receipts during 2022-23 1647.30 Actual Foreign Payments during 2022-23 775.97

In accordance with the provisions of Section 134 (5) of the Companies Act, 2013, your Directors confirm that: a) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any; b) the selected accounting policies were applied consistently and the Directors 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) proper and sufficient care has been taken for maintenance of adequate accounting records in accordance with the provisions of the Companies Act,2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d) the annual accounts have been prepared on a going concern basis; e) Company has followed adequate internal financial controls in preparing its financial statements; f) proper systems to ensure compliance with the provisions of all applicable laws have been devised and such systems are adequate and are operating effectively.