We are enhancing operational efficiencies to build a more sustainable business. I am pleased to report that all our teams from the top leadership to our workmen at the plants are driving our sustainability agenda through increased focus and innovation.

Dear Shareholders,

FY 2021-22, like the year before, remained challenging for businesses in India and the world over.

However, there certainly was moderation in severity of challenges in the evolving macro landscape and coupled with the increased acquired ability to mitigate them, the year overall seemed somewhat easier to navigate through. Undeterred by the headwinds, your Company focused on keeping the strategy flexible and execution agile to leverage relevant opportunities as they emerged. This enabled the Company to maximize the value-creation for customers and all other stakeholders.