| PURSUANT TO THE PROVISIONS OF THE COMPANIES ACT, 2013, THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015, AND THE COMPANY’S NOMINATION AND REMUNERATION POLICY, THE NOMINATION AND REMUNERATION COMMITTEE (“NRC”) IN CONJUNCTION WITH THE BOARD UNDERTOOK A COMPREHENSIVE ANNUAL EVALUATION OF THE PERFORMANCE OF THE BOARD, ITS VARIOUS COMMITTEES, AND INDIVIDUAL DIRECTORS. THIS EVALUATION WAS CARRIED OUT THROUGH A STRUCTURED PROCESS INCORPORATING BOTH INDIVIDUAL AND COLLECTIVE FEEDBACK FROM ALL DIRECTORS. IN A PARALLEL EXERCISE, THE INDEPENDENT DIRECTORS CONDUCTED ANNUAL REVIEW OF THE PERFORMANCE OF THE CHAIRPERSON, THE NON-INDEPENDENT DIRECTORS, AND THE BOARD AS A WHOLE, IN ACCORDANCE WITH THE STATUTORY FRAMEWORK AND BEST GOVERNANCE PRACTICES. EVALUATION QUESTIONNAIRES, ENCOMPASSING A WELL-DEFINED SET OF QUALITATIVE AND QUANTITATIVE CRITERIA TO ASSESS THE EFFECTIVENESS OF THE BOARD, ITS COMMITTEES, INDIVIDUAL DIRECTORS, AND THE CHAIRPERSON, WERE DISSEMINATED TO ALL MEMBERS OF THE BOARD. DIRECTORS WERE REQUESTED TO PROVIDE CANDID FEEDBACK BASED ON THEIR ASSESSMENT OF THE FUNCTIONING, COMPOSITION, AND DYNAMICS OF THE BOARD AND ITS CONSTITUENTS DURING THE FINANCIAL YEAR 2024–25. THE RESPONSES RECEIVED REFLECTED A HIGH DEGREE OF ENGAGEMENT AND CONSENSUS ON THE OVERALL EFFICACY OF THE BOARD’S OPERATIONS. THE DIRECTORS EXPRESSED THEIR SATISFACTION WITH THE ROBUSTNESS AND TRANSPARENCY OF THE EVALUATION PROCESS, ACKNOWLEDGING ITS CONTRIBUTION TOWARDS REINFORCING A CULTURE OF CONTINUOUS IMPROVEMENT, STRATEGIC ALIGNMENT, AND ENHANCED GOVERNANCE. |