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డైరెక్టర్ల నివేదిక Lasa Supergenerics Ltd.

Mar 31, 2025

The Directors are pleased to present you the Business Performance along with the audited financial statements for the year ended 31^st March, 2025.

Financial Highlights:
Particular	Amount (Rs In Lakhs)
	March 31, 2025	March 31, 2024
Income from operations	14244.81	10433.50
Other Income	501.23	9.93
Total Income	14746.03	10443.43
Expenditure	13618.21	10216.92
Profit/ (Loss) before Depreciation, Interest and Tax	1127.82	226.51
Less: Depreciation	1229.98	1067.26
Profit/ (loss) before Interest and Tax	(102.16)	(840.75)
Less: financial Charges	269.24	193.19
Profit/ (Loss) Before Extraordinary Items & Tax	(371.40)	1033.94
Less: Exceptional Items	1566.91	877.32
Add Excess Depreciation due to change in Depreciation method from WDV to SLM.
Less: (Excess)/ Short Tax Provision	-	-

Less: Provision for Taxation	-	-
Add : Deferred Tax Income / (Expenditure)	(462.58)	261.81
Profit / (Loss) After Tax	(1475.73)	(2173.07)
Add: Prior Period Income /(Expenditure) (Net)	-	-
Add: Other Comprehensive Income	4.42	11.54
Profit / (Loss) for the Year	(1471.31)	(2161.53)

Note: Figures of Previous year have been regrouped / reclassified wherever necessary, to confirm to this periods classification.> RESULTS OF OPERATIONS

The total revenue from operations for the year ended March 31, 2025 was Rs. 14746.03Lakhs as compared to Rs. 10443.43 Lakhs, for the year under review. Your Company has reported profit of Rs. 1127.82 Lakhs before interest, depreciation and tax, as compared to profit of Rs. 226.51 lakhs in the previous year..

> AMOUNT TO BE CARRIED TO RESERVE:

The Company has not transferred any amount to the reserves during the period under review.

> FINANCIAL LIQUIDITY

As at March 31, 2025, your company had liquid assets of Rs. 79.03 Lakhs as against Rs.149.63 Lakhs at the previous year end.

Your company maintains sufficient cash reserves to meet its operations and strategic objectives.

> DEPOSITS:

During the year, the company has not accepted any deposits from public within the purview of Section 73 & 74 of the Act read with companies (Acceptance of Deposits) Rules, 2014 and, as such, no amount of principal or interest was outstanding as of the Balance Sheet date. The company has no deposit which is not in compliance with the provisions of chapter V of the Act and as the Companies (Acceptance of Deposit) Rules, 2014.

> PARTICULARS OF LOANS, GUARANTEE OR INVESTMENTS U/S 186:

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Act and Schedule of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015 (hereinafter referred to as "SEBI Listing Regulations,2015") have been provided in the notes to the Financial Statements forming a part of this annual report.

> MATERIAL CHANGES AND COMMITMENTUpdate on Section 7 application of Insolvency and Bankruptcy Code, 2016 filed by Bank of Baroda.

Section 7 Application of Insolvency and Bankruptcy Code, 2016 filed by Bank of Baroda was withdrawn by the bank pursuant to Settlement of alleged dues with the company.

â¢ Fire Incident in the company

There was unfortunate fire incident that occurred at company''s manufacturing facility on 18th May 2025 despite the sustained efforts, operations at the said facility cannot be resumed.

This issue was attributable to a range of challenges, including pending statutory clearances and certain operational constraints. The company remains active in exploring alternative options to enter into contract manufacturing arrangements and/or leasing the facility, subject to receipt of necessary regulatory approvals and consents.

> RELATED PARTY TRANSACTION:

All Related Party Transactions that were entered during the Financial Year under review were on an arm''s length basis, in the ordinary course of business and are in compliance with the applicable provisions of the Companies Act, 2013 and the Listing Regulations. There were no materially significant Related Party Transactions made by the Company during the year that required shareholders'' approval under Regulation 23 of the SEBI (Listing Obligations and Disclosures Requirements) Regulation 2015.

All related party transactions were placed before the Audit Committee for their review and approval. Prior approval of audit committee is obtained for all Related Party Transactions.

Prior omnibus approval of the Audit Committee is obtained for the transactions which are repetitive in nature or when the need for these cannot be foreseen in advance.

None of the transactions entered with Related Parties fall under the scope of Section 188(1) of the Act. Details of transactions with Related Parties as required under Section 134(3)(h) of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014 are given in Form AOC - 2 and forms part of this Annual Report.

> STATE OF COMPANY''S AFFAIRS:

The Company is engaged in the business of manufacturing, trading, producing, processing, preparing, treating chemicals, API, Pharmaceuticals, drugs, etc. there is no change in the business of the Company during the financial year ended March 31, 2025.

> SHARE CAPITAL:

The Authorised Share Capital of the Company is Rs. 1,00,33,00,000/- (Rupees One Hundred Crore and Thirty Three Lakhs only) divided into 10,03,30,000 Equity Shares of Rs. 10/- each. The Paid up Share Capital of the Company is Rs. 50,10,12,390 (Fifty Crore Ten Lakh Twelve Thousand Three Hundred and Ninety) divided into 5,01,01,239 (Five Crore Ten Lakh One Thousand Two Hundred Thirty Nine) of Rs. 10/- each.

> DIRECTORS AND KEY MANAGERIAL PERSONNEL

The Directors of your company are well experienced with expertise in their respective fields of technical, finance, strategic and operational management and administration. None of the directors of your company are disqualified under the provision of companies Act 2013. During the period under review, no Non-Executive Director of your Company had any pecuniary relationship or transactions with the Company except as stated elsewhere in this Report and in the notes to the accounts.

The day-to-day operations of your Company are managed by its Key Managerial Persons ("KMP") viz. the Managing Director (Technical), Executive Director, the Chief Financial Officer and the Company Secretary.

Mr. Prathamesh Chalke (DIN: 11119348) Whole -Time Director of the company is retiring by rotation and being eligible, has offered himself for re-appointment at this Annual General Meeting scheduled to be held on September 30,2025.

As required under the provisions of Section 203 of the Act, Dr. Omkar Herlekar (DIN 01587154), Chairman & Managing Director, Mr. Prathamesh Chalke (DIN: 11119348) Executive Director, Mrs. Varsha Pravin Joshi, Chief Financial Officer of the Company

Mrs. Mitti Jain, Company Secretary are the Key Managerial Personnel of your Company resigned w.e.f 29^th August, 2025

> FAMILIARISATION PROGRAMME FOR THE INDEPENDENT DIRECTORS:

In compliance with the requirements of Regulation 25 (7) of the Listing Regulations, 2015, the Company has put in place a Familiarization Programme for Independent Directors to familiarize them with the Company, their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, business model etc. The details of the Familiarization Programme conducted are available on the website of the Company www.lasalabs.com

> ANNUAL EVALUATION OF PERFORMANCE OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTOR:

During the year, the evaluation of the annual performance of individual directors including the Chairman of the Company and Independent Directors, Board and Committees of the Board was carried out under the provisions of the Act and relevant Rules and the Corporate Governance requirements as prescribed under Regulation 17 of Listing Regulations, 2015 and the circular issued by SEBI dated January 5, 2017 with respect to Guidance Note on Board Evaluation. The Nomination and Remuneration Committee had approved the indicative criteria for the evaluation based on the SEBI Guidance Note on Board Evaluation.

The Board''s functioning was evaluated on various aspects, of the Board, functions of the Board, degree of fulfillment of key responsibilities, establishment and delineation of responsibilities to various Committees, effectiveness of Board processes, information and functioning. The Committees of the Board were assessed on the degree of fulfillment of key responsibilities, adequacy of Committee composition and effectiveness of Meetings.

The Directors were evaluated on aspects such as attendance, contribution at Board / Committee Meetings and guidance / support to the Management outside Board / Committee Meetings.

The performance assessment of Non-Independent Directors, Board as a whole and the Chairman were evaluated in separate meetings of Independent Directors.

The same was also discussed in the meetings of Nomination and Remuneration Committee and the Board. Performance evaluation of Independent Directors was done by the entire Board, excluding the Independent Director being evaluated.

> COMMITTEE COMPOSITION:

The details pertaining to composition of Committees are included in the Corporate Governance Report, which forms a part of this Report.

> HUMAN RESOURCES:

Our company recognizes that employees are the most valuable resource and endeavors to enable its employees to meet business requirements while meeting their career aspirations. The Human Resource agenda continues to support the business in achieving sustainable and responsible growth by building the right capabilities in the organization. It continues to focus on progressive employee relations policies and building a high-performance culture with a growth mind-set where employees are engaged, productive and efficient. Our company has in place duly approved PPM (Personnel Policy Manual) indicating roles and responsibilities of human force in the company.

> DECLARATION BY AN INDEPENDENT DIRECTOR:

The Company has received declarations from all Independent directors of the company confirming that they with the criteria of independence as prescribed under sub-section (6) of Section 149 of the Act and as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations, 2015").

> NUMBER OF MEETINGS OF THE BOARD

The Board of Directors of the Company met 7 (Seven) times during the financial year. The details of Board Meetings and attendance of the Director in the Board meeting are provided in the Corporate Governance Report, which forms part of this Annual Report. For details of meetings of the Board, please refer to the Corporate Governance Report

> POLICIES OF THE COMPANYFollowing are the policies which are formulated by the company and also available on the website of the company.

â¢ CSR Policy

â¢ Sexual Harassment Policy

â¢ Policy governing transactions with Related Parties

â¢ Whistle Blower Policy

â¢ Nomination & Remuneration Policy

â¢ Human Resource Policy

â¢ Code of conduct Policy

â¢ Policy Unpublished Price Sensitive Information

â¢ Overlay Succession policy

â¢ Materiality Policy

> RISK MANAGEMENT POLICY

The Company has laid down the procedure to inform the Board about the risk assessment and minimization procedures.

The Company does not fall under the ambit of top 1000 listed entities, determined on the basis of market capitalisation as at the end of the immediately preceding financial year. Hence, compliance under Regulation 21 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is not applicable.

> DIRECTORS RESPONSIBILITY STATEMENT:The Directors confirm that:

In terms of provisions of Section 134(3) (c) and Section 134(5) of the Companies Act, the Board of Directors, to the best of their knowledge and ability, in respect of the financial year ended March 31, 2025, confirm that:

a) In the preparation of the annual accounts for the financial year 2024-25, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b) They had selected such accounting policies and applied them consistently and 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 at the end of the financial year and of the profit of the Company for that period;

c) They had 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;

d) They had prepared the annual accounts for the Financial Year ended March 31, 2025 on a going concern basis.

e) They have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively;

f) They had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

> REMUNERATION POLICY FOR DIRECTORS, KEY MANAGERIAL PERSONNEL AND OTHER EMPLOYEES AND CRITERIA FOR APPOINTMENT OF DIRECTORS.

The Board of Directors has framed a policy which lays down a framework in relation to remuneration of Directors, Key Managerial Personnel and Senior Management of the company. This policy also lays down criteria for selection and appointment of Board Members. The details of this policy are explained in the corporate Governance Report..

> CONSOLIDATED FINANCIAL STATEMENTS

Not applicable since your company do not have any subsidiary during the year under review.

> INTERNAL FINANCIAL CONTROLS SYSTEM AND THEIR ADEQUACY

The Board Members has in place adequate internal financial controls with reference to the Financial Statements. The Audit Committee of the Board reviews the internal control systems including internal financial control system, the adequacy of internal audit function and significant internal audit findings with the management, Internal Auditors and Statutory Auditors.

> EXTRACT OF ANNUAL RETURN:

The Annual Return in Form MGT-7 for the financial year ended 31^st March, 2025, is available on the website of the Company at www.lasalabs.com.

> CORPORATE SOCIAL RESPONSIBILITY (CSR)

Your company has formed the CSR committee in accordance with the provision of section 135 of the Act, details of which are provided in corporate governance report annexed hereto and forming part of this report. The CSR Policy of your company as approved by the Board of Directors and is posted on the website of the company www.lasalabs.com.

The CSR activities as required to be undertaken under Section 135 of the Act read with the Companies (Corporate Social Responsibility) Rules, 2014, including a brief outline of the Company''s CSR Policy, total amount to be spent under the CSR Policy for the financial year 2024-25, amount unspent and the reason for the unspent amount, is annexed hereto in forms part of this Report.

> CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

The provisions relating to energy conservation and technology absorption have been adhered to the extent applicable to the Company. The Company makes all efforts towards the conservation of energy and ensures safety.

The Particulars as prescribed under section 134(3) (m) of the Act read with rule 8(3) of the Companies (Accounts ) Rules, 2014 relating to conservation of energy, technology absorption is provided in which forms the part of this report.

The details of foreign exchange earnings and outgo during the year under review are provided under Notes of the Audited Financial Statements. The members are requested to refer to the said note for details in this regards.

> PARTICULARS OF EMPLOYEES

There were no employees drawing remuneration in excess of the limits prescribed under Section 196 and 197 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 during the financial year. The ratio of the remuneration of each Whole-time Director and Key Managerial Personnel to the median of employee Remuneration as per section 197 (12) of the Companies Act 2013 read with rule 5 of the Companies (Appointment & Remuneration of the management personnel) Rules, 2014 forms part of this report.

> REGULATORY APPROVALS

The relevant regulations and policies as prescribed by the Government of India and other regulatory bodies have been duly complied with by your company.

Our manufacturing facilities are monitored and approved by various regulatory authorities. Periodically, the FDA, MPCB etc. Such authority conducts routine audits of all approved facilities.

> COMMITTEES OF THE BOARD:

Your company has eight (8) committees of the Board of Directors as on March 31, 2025 out of which 4 are statutory committees and other 4 are committees considering the need of best practices in corporate governance of the company.

Details given in the Corporate Governance Report.

Statutory Committees:

â¢ Audit committee

â¢ Nomination and Remuneration Committee

â¢ Stakeholders Relationship Committee

â¢ Corporate Social Responsibility Committee

â¢ Internal Complaints Committee

Other Committees:

â¢ Allotment Committee

â¢ Enquiry Committee

â¢ Advisory Committee

â¢ Fund Raising Committee

> SECRETARIAL AUDIT REPORT

Pursuant to section 204 of companies Act 2013 and rules made thereunder, a Secretarial Audit Report for the financial year 2024-25 in form MR-3 given by M/s. Shivam Sharma & Associates, Practicing Company Secretary is attached as which forms part of this report.

Further, the Secretarial Auditor report does not contain any qualification, reservation and adverse marks.

> CORPORATE GOVERNANCE REPORT

A detailed Report on Corporate Governance and Certificate of the Auditors of the Company regarding compliance of the conditions of Corporate Governance as stipulated in Part C of Schedule V of the Listing Regulations, 2015, are enclosed as a separate section and forms a part of this Report.

> MANAGEMENT DISCUSSION AND ANALYSIS:

Pursuant to Regulation 34 read with Schedule V of the SEBI Listing Regulations, 2015, detailed review of operations, performance and future outlook of the company is covered under Management''s Discussion & Analysis which forms a part of this report.

> PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

Your Company strongly believes in providing a safe and harassment free workplace for each and every individual working for the Company through various interventions and practices. It is the continuous endeavor of the Management of the Company to create and provide an environment to all its employees that is free from discrimination and harassment including sexual harassment. The Company has adopted a policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules made thereunder. The Company arranged various interactive awareness

workshops in this regard for the employees in the manufacturing sites, R & D set ups at Corporate Office during the financial year. Your company has also appointed external member in the committee dealing in prevention of sexual harassment.

During the financial year ended March 31, 2025 no complaint pertaining to sexual harassment was received by the Company.

> VIGIL MECHANISM POLICY

The Company has adopted a Whistle Blower Policy to provide a formal mechanism to the Directors'' and employees to report their concerns about unethical behavior, actual or suspected fraud or violation of the Company''s Code of Conduct or Ethics Policy. The Policy provides for adequate safeguards against victimization of employees, and provides direct access to the Chairman of the Audit Committee. It is affirmed that no personnel of the Company have been denied access to the Audit Committee. The Whistle Blower Policy has been posted on the website of the Company at www.lasalabs.com.

> PATENTS

Patents which belong to your Company are follows:

Sr. No	Description	Patent No
1	NITROXYNIL : Method for the simplified production of Fasciolicide and derivative thereof	311538
2	CLOSANTEL : Method for the preparation of Salicylanilide antiparasitic derivative	301999
3	CYROMAZINE : An improved process for the preparation of Triazine derivative used as an insecticide	297903
4	FENBENDAZOLE : Green process for the preparation of Methyl 5-(Phenyl Thio)-1h-Benzo[D]Imidazole-2-Ylcarbamate	303541
5	TRICLABENDAZOLE: Process for the preparation of Benzimidazole derivative as anthelmintic agents	326040

6	ALBENDAZOLE; An improved process for the preparation of Methyl 5-(Propyl Thio)-1h-Benzo [D] Imidazol-2-Ylcarbamate	326628
7	HALQUINOL: A simple, safe and cost effective process for preparation of Halquinol product.	359540
8	HALQUINOL: A Process for Preparation of Halquinol Product.	304244
9	PROGESTERONE : A PROCESS FOR PREPARING PREGN-4-ENE-3,20-DIONE	546469
10	COUMARIN : Efficient Process For Preparing Coumarin	423377
11	CAN: PROCESSES FOR PREPARATION AND PURIFICATION OF 5-CHLORO-2-NITROANILINE	550071

> SUCCESSION PLANNING

The Company has its succession plan in place for orderly succession for appointments to Board and to senior management.

> AUDITORS AND AUDITOR''S REPORT :Cost Auditors and Cost Audit Report:

As per the requirement of Central Government and pursuant to Section 148 of the Act read with the Companies (Cost Records and Audit) Rules, 2014 as amended from time to time, your company has been carrying out audit of cost records every year.

The Board of Directors, on the recommendation of Audit committee, has appointed M/s V.J. Talati & Co., Practicing Cost Accountants, Mumbai (Firm Reg. No.: R00213) as the cost Auditor to audit the cost records of the company for Financial Year 2025-26.

In accordance with the provisions of Section 148 of the Act read with the Companies (Audit and Auditors) Rules, 2014, since the remuneration to be paid to the Cost Auditor for FY 2025-26 is required to be ratified by the members, the Board of Directors recommends vide item no. 3 of the notice of AGM.

Secretarial Auditors:

Pursuant to the 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 had appointed M/s Shivam Sharma & Associates, Practicing Company Secretary (M. No: A35727, CP. No: 16658) to undertake the Secretarial Audit of the company for the year ended March 31, 2025. The Secretarial Audit Report for the Financial Year ended March 31, 2025 has been annexed to this Report and forms an integral part of this Report.

Statutory Auditors:

M/s. Gupta Rustagi & Co Chartered Accountant (Firm Registration No.128701W) were appointed until the conclusion of Annual General Meeting to be held in the year 2029.

The Auditors'' Report does not contain any qualification, reservation or adverse remark. Independent Auditors Report Annexed which forms part of this Annual Report.

> SECRETARIAL STANDARDS

During the year, your Company has complied with applicable Secretarial Standards i.e. SS-1 and SS-2, relating to "Meetings of the Board of Directors" and "General Meetings", respectively.

> OTHER DISCLOSURES:

Corporate Governance: Pursuant to Regulation 34 of the SEBI LODR Regulations, a Report on Corporate Governance and a certificate obtained from the Statutory Auditors confirming compliance, are provided in forming part of this Report.

Statutory Compliance: The Company complies with all applicable laws and regulations, pays applicable taxes on time, takes care of all its stakeholders, ensures statutory CSR spend and initiates sustainable activities.

MSME: The Company complies with the requirement of submitting a half yearly return to the Ministry of Corporate Affairs within the prescribed timelines.

> DETAILS OF FRAUD, IF ANY REPORTED BY THE AUDITORS

There has been no instance of fraud reported by Auditors pursuant to Section 143(12) of the Companies Act, 2013 and the rules made thereunder.

> ANNUAL SECRETARIAL COMPLIANCE REPORT

The Company has undertaken an audit for the financial year 2024-25 for all applicable compliances as per Securities and Exchange Board of India Regulations and Circulars / Guidelines issued thereunder.

The Annual Secretarial Compliance Report submitted by your Company to the Stock Exchanges is provided under Annexure V which forms part of this report.

> APPRECIATIONS AND ACKNOWLEDGEMENT

The Board of Directors would like to thank and wish to express their appreciation for the continued co-operation of the Government of India, Governments of various States in India, bankers, financial institutions, Shareholders, customers, dealers, suppliers and also, the valuable assistance. The Directors also wish to thank all the employees for their contribution, Support and continued commitment throughout the year.

Mar 31, 2024

The Directors are pleased to present you the Business Performance along with the audited financial statements for the year ended 31st March, 2024.

Financial Highlights:

Particular	Amount ('' In Lakhs)
Particular	March 31, 2024	March 31, 2023
Income from operations	10433.50	12956.78
Other Income	9.93	180.46
Total Income	10443.43	13137.24
Expenditure	10216.92	13616.13
Profit/ (Loss) before Depreciation, Interest and Tax	226.51	(478.89)
Less: Depreciation	1067.26	1341.90
Profit/ (loss) before Interest and Tax	(840.75)	(1820.79)
Less: financial Charges	193.19	416.06
Profit/ (Loss) Before Extraordinary Items & Tax	1033.94	(2236.85)
Less: Exceptional Items	877.32	1989.66
Add Excess Depreciation due to change in Depreciation method from WDV to SLM.	-	-
Less: (Excess)/ Short Tax Provision	-	4.33
Less: Provision for Taxation	-	-
Add : Deferred Tax Income / (Expenditure)	261.81	(368.77)
Profit / (Loss) After Tax	(2173.07)	(3862.07)
Add: Prior Period Income /(Expenditure) (Net)	-	-
Add: Other Comprehensive Income	11.54	3.91
Profit / (Loss) for the Year	(2161.53)	(3858.15)
Note: Figures of Previous year have been regrouped / reclassified wherever necessary, to confirm to this periods classification.

> RESULTS OF OPERATIONS

The total revenue from operations for the year ended March 31, 2024 was '' 10433.50 Lakhs as compared to '' 12956.78 Lakhs, for the year under review. Your Company has reported profit of Rs 226.51 Lakhs before interest, depreciation and tax, as compared to loss of '' (478.89) lakhs in the previous year.

> AMOUNT TO BE CARRIED TO RESERVE:

The Company has not transferred any amount to the reserves during the period under review.

> FINANCIAL LIQUIDITY

As at March 31, 2024, your company had liquid assets of ''149.63.Lakhs.

Your company maintains sufficient cash reserves to meet its operations and strategic objectives.

> DEPOSITS:

> PARTICULARS OF LOANS, GUARANTEE OR INVESTMENTS U/S 186:

> MATERIAL CHANGES AND COMMITMENTâ¢ Update on Section 7 application of Insolvency and Bankruptcy Code, 2016 filed by Bank of Baroda.

Application under Section (7) of Insolvency and Bankruptcy Code 2016 still pending for final arguments before Hon''ble NCLT, Mumbai, however Interlocutory Application under section 65 and section 75 of the Insolvency and Bankruptcy Code, 2016 for dismissing the petition filed under section (7) by Bank of Baroda was rejected by Hon''ble NCLT vide order dated February 28,2024, company challenged the said order before Hon''ble NCLAT, whereas both the Parties i.e Bank of Baroda and Company requested to time for possible amicable settlement in the matter.

The Matter of amicable settlement with Bank of Baroda with respect to Alleged ECB is in final stage of Settlement whereas amount proposed to be paid to Bank and in principally agreed by both the parties towards final settlement is also deposited with the Bank, company awaits formal communication and no dues certificate from the bank w.r.t conclusion in the matter.

> RELATED PARTY TRANSACTION:

All related party transactions were placed before the Audit Committee for their review and approval. Prior approval of audit committee is obtained for all Related Party Transactions. Prior omnibus approval of the Audit Committee is obtained for the transactions which are repetitive in nature or when the need for these cannot be foreseen in advance.

> STATE OF COMPANY''S AFFAIRS:

> SHARE CAPITAL:

'' 50,10,12,390 (Fifty Crore Ten Lakh Twelve Thousand Three Hundred and Ninety) divided into 5,01,01,239 (Five Crore Ten Lakh One Thousand Two Hundred Thirty Nine) of '' 10/- each.

> DIRECTORS AND KEY MANAGERIAL PERSONNEL

The day-to-day operations of your Company are managed by its Key Managerial Persons ("KMP") viz. the Managing Director (Technical), Executive Director , the Chief Financial Officer and the Company Secretary.

*Mr. Shivanand Hegde, (DIN: 00185508) Whole Time Director of the Company vacates from the office of director w.e.f. 27th September 2023, by the virtue of Postal Ballot, as per Scrutinizer Report the Resolution for the re-appointment of Mr. Shivanand Hegde was not approved by the members of the Company

The Board appointed Mr. Umesh Pawar (DIN: 10539778) as an Additional Director (Executive Director) of the Company w.e.f. 8th March, 2024 subject to approval of the Members in the ensuing General Meeting of the Company".

Appointment of Mr. Umesh Pawar was approved by Members through postal ballot dated: 26.06.2024

Mr. Omkar Herleker (DIN: 01587154) Chairman and Managing Director of the company is retiring by rotation and being eligible, has offered himself for re-appointment at this Annual General Meeting scheduled to be held on September 27,2024.

As required under the provisions of Section 203 of the Act, Dr. Omkar Herlekar (DIN 01587154), Chairman & Managing Director, Mr. Umesh Shankar Pawar* (DIN: 10539778) Executive Director, Mrs. Varsha Pravin Joshi@, Chief Financial Officer of the Company and Mrs. Mitti Jain (A33681), Company Secretary are the Key Managerial Personnel of your Company as on the date of this Report.

Mr. Shivanand Gajanan Hegde, Whole Time Director vacates the office of the Director w.e.f 27th September, 2023 by virtue of postal ballot.

Mr. Ravi Shankar Kabra, Chief Financial Officer resigned from the post w.e.f from 25th April, 2024.

*Mr. Umesh Shankar Pawar, Executive Director of the Company appointed w.e.f 8th March, 2024

@Mrs. Varsha Pravin Joshi, Chief Financial Officer, of the Company appointed w.e.f 25th July, 2024

> FAMILIARISATION PROGRAMME FOR THE INDEPENDENT DIRECTORS:

> ANNUAL EVALUATION OF PERFORMANCE OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTOR:

The Directors were evaluated on aspects such as attendance, contribution at Board / Committee Meetings and guidance / support to the Management outside Board / Committee Meetings.

The performance assessment of Non-Independent Directors, Board as a whole and the Chairman were evaluated in separate meetings of Independent Directors.

> COMMITTEE COMPOSITION:

The details pertaining to composition of Committees are included in the Corporate Governance Report, which forms a part of this Report Annexure I

> HUMAN RESOURCES:

continues to focus on progressive employee relations policies and building a high-performance culture with a growth mindset where employees are engaged, productive and efficient. Our company has in place duly approved PPM (Personnel Policy Manual) indicating roles and responsibilities of human force in the company.

> DECLARATION BY AN INDEPENDENT DIRECTOR:

The Company has received declarations from all Independent directors of the company confirming that they meet the criteria of independence as prescribed under sub-section (6) of Section 149 of the Act and as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations, 2015").

> NUMBER OF MEETINGS OF THE BOARD

The Board of Directors of the Company met 6 (Six) times during the financial year. The details of Board Meetings and attendance of the Director in the Board meeting are provided in the Corporate Governance Report, which forms part of this Annual Report. For details of meetings of the Board, please refer to the Corporate Governance Report, annexed as Annexure I

> POLICIES OF THE COMPANYFollowing are the policies which are formulated by the company and also available on the website of the company.

â¢ CSR Policy

â¢ Sexual Harassment Policy

â¢ Policy governing transactions with Related Parties

â¢ Whistle Blower Policy

â¢ Nomination & Remuneration Policy

â¢ Human Resource Policy

â¢ Code of conduct Policy

â¢ Policy Unpublished Price Sensitive Information

â¢ Overlay Succession policy

â¢ Materiality Policy

> RISK MANAGEMENT POLICY

The Company has laid down the procedure to inform the Board about the risk assessment and minimization procedures.

> DIRECTORS RESPONSIBILITY STATEMENT:The Directors confirm that:

In terms of provisions of Section 134(3) (c) and Section 134(5) of the Companies Act, the Board of Directors, to the best of

their knowledge and ability, in respect of the financial year ended March 31, 2024, confirm that:

a) In the preparation of the annual accounts for the financial year 2023-24, the applicable accounting standards had been followed along with proper explanation relating to material departures;

d) They had prepared the annual accounts for the Financial Year ended March 31, 2024 on a going concern basis.

e) They have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively;

f) They had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

> REMUNERATION POLICY FOR DIRECTORS, KEY MANAGERIAL PERSONNEL AND OTHER EMPLOYEES AND CRITERIA FOR APPOINTMENT OF DIRECTORS.

> CONSOLIDATED FINANCIAL STATEMENTS

Not applicable since your company do not have any subsidiary during the year under review.

> INTERNAL FINANCIAL CONTROL SYSTEM AND THEIR ADEQUACY

> EXTRACT OF ANNUAL RETURN:

The Annual Return in Form MGT-7 for the financial year ended 31^st March, 2024, is available on the website of the Company at www.lasalabs.com.

> CORPORATE SOCIAL RESPONSIBILITY (CSR)

The CSR activities as required to be undertaken under Section 135 of the Act read with the Companies (Corporate Social Responsibility) Rules, 2014, including a brief outline of the Company''s CSR Policy, total amount to be spent under the CSR Policy for the financial year 2023-24, amount unspent and the reason for the unspent amount, is annexed hereto in forms part of this Report.

> CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

The particulars as prescribed under section 134(3) (m) of the Act read with rule 8(3) of the Companies (Accounts ) Rules, 2014 relating to conservation of energy, technology absorption is provided in Annexure II which forms the part of this report.

> PARTICULARS OF EMPLOYEES

There were no employees drawing remuneration in excess of the limits prescribed under Section 196 and 197 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 during the financial year or without the approval of share holders. The ratio of the remuneration of each Whole-time Director and Key Managerial Personnel to the median of employee Remuneration as per section 197 (12) of the Companies Act 2013 read with rule 5 of the Companies (Appointment & Remuneration of the management personnel) Rules, 2014 forms part of this report as Annexure IV.

> REGULATORY APPROVALS

The relevant regulations and policies as prescribed by the Government of India and other regulatory bodies have been duly complied with by your company.

Our manufacturing facilities are monitored and approved by various regulatory authorities. Periodically, the FDA, MPCB etc. Your company had halal and GMP certificate. Such authority conducts routine audits of all approved facilities.

> COMMITTEES OF THE BOARD:

Your company has eight (8) committees of the Board of Directors as on March 31, 2024 out of which 4 are statutory committees and other 4 are committees considering the need of best practices in corporate governance of the company.

Details given in the Corporate Governance Report Annexure I. Statutory Committees:

â¢ Audit committee

â¢ Nomination and Remuneration Committee

â¢ Stakeholders Relationship Committee

â¢ Corporate Social Responsibility Committee

â¢ Internal Complaints Committee Other Committees:

â¢ Allotment Committee

â¢ Enquiry Committee

â¢ Advisory Committee

â¢ Fund Raising Committee

> SECRETARIAL AUDIT REPORT

Pursuant to section 204 of companies Act 2013 and rules made thereunder, a Secretarial Audit Report for the financial year 2023-24 in form MR-3 given by M/s. Shivam Sharma & Associates, Practicing Company Secretary is attached as Annexure-V which forms part of this report.

Further, the Secretarial Auditor report does not contain any qualification, reservation and adverse marks.

> CORPORATE GOVERNANCE REPORT

> MANAGEMENT DISCUSSION AND ANALYSIS:

> PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

During the financial year ended March 31, 2024 no complaint pertaining to sexual harassment was received by the Company.

> VIGIL MECHANISM POLICY

> PATENTS

Patents which belong to your Company are follows:

Sr. No	Description	Patent No
1	NITROXYNIL : Method for the simplified production of Fasciolicide and derivative thereof	311538
2	CLOSANTEL : Method for the preparation of Salicylanilide antiparasitic derivative	301999
3	CYROMAZINE : An improved process for the preparation of Triazine derivative used as an insecticide	297903
4	FENBENDAZOLE : Green process for the preparation of Methyl 5-(Phenyl Thio)-1h-Benzo[D]Imidazole-2-Ylcarbamate	303541
5	TRICLABENDAZOLE: Process for the preparation of Benzimidazole derivative as anthelmintic agents	326040
6	ALBENDAZOLE: An improved process for the preparation of Methyl 5-(Propyl Thio)-1h-Benzo [D] Imidazol-2-Ylcarbamate	326628
7	HALQUINOL: A simple, safe and cost effective process for preparation of Halquinol product.	359540
8	HALQUINOL: A Process for Preparation of Halquinol Product.	304244
9	PROGESTERONE: A PROCESS FOR PREPARING PREGN-4-ENE-3,20-DIONE	546469
10	COUMARIN: Efficient Process For Preparing Coumarin	423377

> SUCCESSION PLANNING

The Company has its succession plan in place for orderly succession for appointments to Board and to senior management.

> AUDITORS AND AUDITOR''S REPORT :Cost Auditors and Cost Audit Report:

The Board of Directors, on the recommendation of Audit committee, has appointed M/s VJ. Talati & Co., Practicing Cost Accountants, Mumbai (Firm Reg. No.: R00213) as the cost Auditor to audit the cost records of the company for Financial Year 2024-25.

In accordance with the provisions of Section 148 of the Act read with the Companies (Audit and Auditors) Rules, 2014, since the remuneration to be paid to the Cost Auditor for FY 2024-25 is required to be ratified by the members, the Board of Directors recommends vide item no. 3 of the notice of AGM.

Secretarial Auditors:

Pursuant to the 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 had appointed M/s Shivam Sharma & Associates, Practicing Company Secretary (M.No: A35727, CP. No: 16658) to undertake the Secretarial Audit of the company for the year ended March 31, 2024. The Secretarial Audit Report for the Financial Year ended March 31, 2024 has been annexed to this Report as Annexure V and forms an integral part of this Report.

Statutory Auditors:

M/s. Gupta Rustagi & Co Chartered Accountant (Firm Registration No.128701W) were appointed until the conclusion of Annual General Meeting to be held in the year 2029.

The Auditors'' Report does not contain any qualification, reservation or adverse remark. Independent Auditors Report Annexed which forms part of this Annual Report.

> SECRETARIAL STANDARDS

During the year, your Company has complied with applicable Secretarial Standards i.e. SS-1 and SS-2, relating to "Meetings of the Board of Directors" and "General Meetings", respectively.

> OTHER DISCLOSURES:

MSME: The Company complies with the requirement of submitting a half yearly return to the Ministry of Corporate Affairs within the prescribed timelines.

> DETAILS OF FRAUD, IF ANY REPORTED BY THE AUDITORS

There has been no instance of fraud reported by Auditors pursuant to Section 143(12) of the Companies Act, 2013 and the rules made thereunder.

> ANNUAL SECRETARIAL COMPLIANCE REPORT

The Company has undertaken an audit for the financial year 2023-24 for all applicable compliances as per Securities and Exchange Board of India Regulations and Circulars / Guidelines issued thereunder.

The Annual Secretarial Compliance Report submitted by your Company to the Stock Exchanges is provided under Annexure VI which forms part of this report.

> PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016

Bank of Baroda has filed a petition under Section 7 of Insolvency and Bankruptcy Code, 2016 alleging default in payment amounting to '' 26,79,46,546.25 (Twenty Six Crore Seventy nine lakhs forty six thousand five hundred and forty six rupees and twenty five paisa) (Including alleged interest and penalties) and seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Company which is still pending at admissions stage

> APPRECIATIONS AND ACKNOWLEDGEMENT

The Board of Directors would like to thank and wish to express their appreciation for the continued co-operation of the Government of India, Governments of various States in India, bankers, financial institutions, Shareholders, customers, dealers, suppliers and also, the valuable assistance. The Directors also wish to thank all the employees for their contribution, support and continued commitment throughout the year.

Mar 31, 2023

Dear Members,

The Directors are pleased to present you the Business Performance along with the audited financial statements for the year ended 31st March, 2023.

Financial Highlights:

Particular	Amount ('' In Lakhs)
Particular	March 31, 2023	March 31, 2022
Income from operations	12956.78	13712.67
Other Income	180.46	27.47
Total Income	13137.24	13740.14
Expenditure	13616.13	12112.91
Profit/ (Loss) before Depreciation, Interest and Tax	(478.89)	1627.23
Less: Depreciation	1341.90	1451.09
Profit/ (loss) before Interest and Tax	(1820.79)	176.14
Less: financial Charges	416.06	4.03
Profit/ (Loss) Before Exceptional Items, Extraordinary Items & Tax	(2236.85)	172.11
Less: Exceptional Items	1989.66	786.02
Add Excess Depreciation due to change in Depreciation method from WDV to SLM.	-	-
Less: (Excess)/ Short Tax Provision	4.33	61.99
Less: Provision for Taxation	-	2.77
Add : Deferred Tax Income / (Expenditure)	(368.77)	(145.54)
Profit / (Loss) After Tax	(3862.07)	(533.13)
Add: Prior Period Income /(Expenditure) (Net)	-	-
Add: Other Comprehensive Income	3.91	6.10
Profit / (Loss) for the Year	(3858.15)	(527.03)

Note: Figures of Previous year have been regrouped / reclassified wherever necessary, to confirm to this periods classification.

> RESULTS OF OPERATIONS

The total revenue from operations for the year ended March 31, 2023 was '' 12956.78 Lakhs as compared to '' 13,712.67 Lakhs, for the year under review. Your Company has reported Earnings before Interest, Depreciation and Tax of ''(478.89) Lakhs, compared to '' 1627.23 Lakhs in the previous year.

> AMOUNT TO BE CARRIED TO RESERVE:

The Company has not transferred any amount to the reserves during the period under review.

> FINANCIAL LIQUIDITY

As at March 31, 2023, your company had liquid assets of ''239.02 Lakhs as against '' 1721.66 Lakhs at the previous year end.

Your company maintains sufficient cash reserves to meet its operations and strategic objectives.

> DEPOSITS:

> PARTICULARS OF LOANS, GUARANTEE OR INVESTMENTS U/S 186:

> MATERIAL CHANGES AND COMMITMENT

â¢ Approval of Scheme of Amalgamation by Hon''ble NCLT.

The Scheme of Amalgamation of Harishree Aromatics and Chemicals Private Limited (Transferor Company) with Lasa Supergenerics Ltd (Transferee Company) and their Respective Shareholders was approved by Hon''ble National Company Law Tribunal on December 23, 2022 which is effective from January 04, 2023.

Share Capital of the Company

Pursuant The Scheme of Amalgamation of Harishree Aromatics and Chemicals Private Limited (Transferor Company) with Lasa Supergenerics Ltd (Transferee Company) and their Respective Shareholders which was approved by Hon''ble National Company Law Tribunal on December 23, 2022 which is effective from January 04, 2023, Authorized Share Capital of the Company stood at ''1003300000 whereas paid up capital of the company increased to ''501012390

â¢ Section 7 application of Insolvency and Bankruptcy Code, 2016 filed by Bank of Baroda.

Petition under Section 7 of Insolvency and Bankruptcy Code, 2016 alleging default in payment amounting to '' 26,79,46,546.25 (Twenty Six crore Seventy nine lakhs forty six thousand five hundred and forty-six rupees and twenty five paisa) (Including alleged interest and penalties) and seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Company was filed by Bank of Baroda however, the application is still pending for arguments for admission.

â¢ Change in Corporate Office:

The Corporate office of the company where books of accounts shall be maintained is shifted to the Registered Office premises I.e Plot No.C-4, C-4/1, MIDC, Lote Parshuram Industrial Area, Tal-Khed, Ratnagiri, MH-415722.

> RELATED PARTY TRANSACTION:

None of the transactions entered with Related Parties fall under the scope of Section 188(1) of the Act. Details of

transactions with Related Parties as required under Section 134(3)(h) of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014 are given in Form AOC - 2 and forms part of this Annual Report.

> STATE OF COMPANY''S AFFAIRS:

> SHARE CAPITAL:

The Authorised Share Capital of the Company is '' 1,00,33,00,000/- (Rupees One Hundred Crore and Thirty Three Lakhs only) divided into 10,03,30,000 Equity Shares of '' 10/- each. The Paid up Share Capital of the Company is '' 50,10,12,390 (Fifty Crore Ten Lakh Twelve Thousand Three Hundred and Ninety) divided into 5,01,01,239 (Five Crore, One Lakh, One Thousand, Two Hundred Thirty Nine) of '' 10/- each.

> DIRECTORS AND KEY MANAGERIAL PERSONNEL

The day-to-day operations of your Company are managed by its Key Managerial Persons ("KMP") viz. the Managing Director, Executive Director, the Chief Financial Officer and the Company Secretary.

Mr. Shivanand Gajanan Hegde (DIN: 00185508) executive director of the company is retiring by rotation and being eligible, has offered himself for re-appointment at the ensuing Annual General Meeting.

As required under the provisions of Section 203 of the Act, Dr. Omkar Herlekar (DIN 01587154), Chairman & Managing Director, Mr. Shivanand Hegde (DIN: 00185508) Executive Director, Mr. Ravishankar Ramprasad Kabra, Chief Financial Officer of the Company and Mrs. Mitti Jain* (A33681), Company Secretary are the Key Managerial Personnel of your Company as on the date of this Report.

*Mrs Mitti Jain (A33681) was appointed as Company Secretary and Compliance Officer w.e.f. March 21, 2023.

Ms Ankita Shetty(A65815) resigned from the post of Company Secretary and Compliance Officer w.e.f. February 9, 2023.

> FAMILIARISATION PROGRAMME FOR THE INDEPENDENT DIRECTORS:

In compliance with the requirements of Regulation 25 (7) of the Listing Regulations, 2015, the Company has put in place a Familiarization Programme for Independent Directors

to familiarize them with the Company, their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, business model etc. The details of the Familiarization Programme conducted are available on the website of the Company www.lasalabs.com

> ANNUAL EVALUATION OF PERFORMANCE OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTOR:

The Directors were evaluated on aspects such as attendance, contribution at Board / Committee Meetings and guidance / support to the Management outside Board / Committee Meetings.

The performance assessment of Non-Independent Directors, Board as a whole and the Chairman were evaluated in separate meetings of Independent Directors.

> COMMITTEE COMPOSITION:

The details pertaining to composition of Committees are included in the Corporate Governance Report, which forms a part of this Report Annexure II

> HUMAN RESOURCES:

Our company recognizes that employees are the most valuable resource and endeavors to enable its employees to meet business requirements while meeting their career aspirations. The Human Resource agenda continues to support the business in achieving sustainable and responsible growth by building the right capabilities in the organization. It continues to focus on progressive employee relations policies and building a high-performance culture with a growth mindset where employees are engaged, productive and efficient. Our company has in place duly approved PPM (Personnel Policy Manual) indicating roles and responsibilities of human force in the company.

> DECLARATION BY AN INDEPENDENT DIRECTOR:

> NUMBER OF MEETINGS OF THE BOARD

> POLICIES OF THE COMPANY

Following are the policies which are formulated by the company and also available on the website of the company.

â¢ CSR Policy

â¢ Sexual Harassment Policy

â¢ Policy governing transactions with Related Parties

â¢ Whistle Blower Policy

â¢ Nomination & Remuneration Policy

â¢ Human Resource Policy

â¢ Code of conduct Policy

â¢ Policy Unpublished Price Sensitive Information

â¢ Overlay Succession policy

â¢ Materiality Policy

> RISK MANAGEMENT POLICY

The Company has laid down the procedure to inform the Board about the risk assessment and minimization procedures.

> DIRECTORS RESPONSIBILITY STATEMENT:

The Directors confirm that:

a) In the preparation of the annual accounts for the financial year 2022-23, the applicable accounting standards had been followed along with proper explanation relating to material departures;

d) They had prepared the annual accounts for the Financial Year ended March 31, 2023 on a going concern basis.

e) They have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively;

f) They had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

> REMUNERATION POLICY FOR DIRECTORS, KEY MANAGERIAL PERSONNEL AND OTHER EMPLOYEES AND CRITERIA FOR APPOINTMENT OF DIRECTORS.

> CONSOLIDATED FINANCIAL STATEMENTS

Not applicable since your company does not have any subsidiary during the year under review.

> INTERNAL FINANCIAL CONTROL SYSTEM AND THEIR ADEQUACY

> EXTRACT OF ANNUAL RETURN:

The Annual Return in Form MGT-7 for the financial year ended 31^st March, 2023, is available on the website of the Company at www.lasalabs.com.

> CORPORATE SOCIAL RESPONSIBILITY (CSR)

The CSR activities as required to be undertaken under Section 135 of the Act read with the Companies (Corporate Social Responsibility) Rules, 2014, including a brief outline of the Company''s CSR Policy, total amount to be spent under the CSR Policy for the financial year 2022-23, amount unspent and the reason for the unspent amount, is annexed hereto in forms part of this Report.

> CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

> PARTICULARS OF EMPLOYEES

> REGULATORY APPROVALS

The relevant regulations and policies as prescribed by the Government of India and other regulatory bodies have been duly complied with by your company.

Our manufacturing facilities are monitored and approved by various regulatory authorities. Periodically, your company has halal and GMP certificate. Such authority conducts routine audits of all approved facilities.

> COMMITTEES OF THE BOARD:

Your company has eight (9) committees of the Board of Directors as on March 31, 2023 out of which 5 are statutory committees and other 4 are committees considering the need of best practices in corporate governance of the company.

Details given in the Corporate Governance Report Annexure II.

Statutory Committees:

â¢ Audit committee

â¢ Nomination and Remuneration Committee

â¢ Stakeholders Relationship Committee

â¢ Corporate Social Responsibility Committee

â¢ Internal Complaints Committee

Other Committees:

â¢ Allotment Committee

â¢ Enquiry Committee

â¢ Advisory Committee

â¢ Fund Raising Committee

> SECRETARIAL AUDIT REPORT

Pursuant to section 204 of companies Act 2013 and rules made thereunder, a Secretarial Audit Report for the financial year 2022-23 in form MR-3 given by M/s. Shivam Sharma & Associates, Practicing Company Secretary is attached as Annexure- IV which forms part of this report.

Further, the Secretarial Auditor report does not contain any qualification, reservation and adverse marks.

> CORPORATE GOVERNANCE REPORT

> MANAGEMENT DISCUSSION AND ANALYSIS:

> PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

During the financial year ended March 31, 2023 no complaint pertaining to sexual harassment was received by the Company.

> VIGIL MECHANISM POLICY

victimization of employees, and provides direct access to the Chairman of the Audit Committee. It is affirmed that no personnel of the Company have been denied access to the Audit Committee. The Whistle Blower Policy has been posted on the website of the Company at www.lasalabs.com.

> PATENTS

Patents which belong to your Company are follows:

Sr. No	Description	Patent No
1	NITROXYNIL : Method for the simplified production of Fasciolicide and derivative thereof	311538
2	CLOSANTEL : Method for the preparation of Salicylanilide antiparasitic derivative	301999
3	CYROMAZINE : An improved process for the preparation of Triazine derivative used as an insecticide	297903
4	FENBENDAZOLE : Green process for the preparation of Methyl 5-(Phenyl Thio)-1h-Benzo[D]Imidazole-2-Ylcarbamate	303541
5	TRICLABENDAZOLE: Process for the preparation of Benzimidazole derivative as anthelmintic agents	326040
6	ALBENDAZOLE; An improved process for the preparation of Methyl 5-(Propyl Thio)-1h-Benzo [D] Imidazol-2-Ylcarbamate	326628
7	HALQUINOL: A simple, safe and cost effective process for preparation of Halquinol product.	359540
8	HALQUINOL: A Process for Preparation of Halquinol Product.	304244

> SUCCESSION PLANNING

The Company has its succession plan in place for orderly succession for appointments to Board and to senior management.

> AUDITORS AND AUDITOR''S REPORT :

Cost Auditors and Cost Audit Report:

In accordance with the provisions of Section 148 of the Act read with the Companies (Audit and Auditors) Rules, 2014, since the remuneration to be paid to the Cost Auditor for FY 2023-24 is required to be ratified by the members, the Board of Directors recommends vide item no. 4 of the notice of AGM.

Secretarial Auditors:

Pursuant to the 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 had appointed M/s Shivam Sharma & Associates, Practicing Company Secretary (M. No: A35727, CP. No: 16658) to undertake the Secretarial Audit of the company for the year ended March 31, 2023. The Secretarial Audit Report for the Financial Year ended March 31, 2023 has been annexed to this Report as Annexure IV and forms an integral part of this Report.

Statutory Auditors:

M/s Thanawala & Company, Charted Accountants (Firm registration No. 110948W), the statutory auditor of the company were appointed by the shareholders at the meeting held on September 25, 2018 for a period of five years.

Upon Retirement of M/s Thanawala & Company, Charted Accountants, M/s. Gupta Rustagi & Co Chartered Accountant (Firm Registration No.128701W) were appointed by the Board of Directors of the company and recommended to shareholders to approve the appointment vide item no 3 of the AGM Notice as the Statutory Auditors of the Company and to hold office from the conclusion of this Annual General Meeting till the conclusion of the thirteenth Annual General Meeting to be held in the calendar year 2028. The said appointment will be subjected to approval of the shareholders of the company.

The Auditors'' Report does not contain any qualification, reservation or adverse remark issued by Thanawala & Company, Chartered Accountants. Independent Auditors Report Annexed which forms part of this Annual Report.

> SECRETARIAL STANDARDS

During the year, your Company has complied with applicable Secretarial Standards i.e. SS-1 and SS-2, relating to "Meetings of the Board of Directors" and "General Meetings", respectively.

> OTHER DISCLOSURES:

MSME: The Company complies with the requirement of submitting a half yearly return to the Ministry of Corporate Affairs within the prescribed timelines.

> DETAILS OF FRAUD, IF ANY REPORTED BY THE AUDITORS

There has been no instance of fraud reported by Auditors pursuant to Section 143(12) of the Companies Act, 2013 and the rules made thereunder.

> ANNUAL SECRETARIAL COMPLIANCE REPORT

The Company has undertaken an audit for the financial year 2022-23 for all applicable compliances as per Securities and Exchange Board of India Regulations and Circulars / Guidelines issued thereunder.

The Annual Secretarial Compliance Report submitted by your Company to the Stock Exchanges is provided under Annexure V which forms part of this report.

> PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016

> APPRECIATIONS AND ACKNOWLEDGEMENT

For and on behalf of the Board of Directors of LASA SUPERGENERICS LIMITED

Sd/- Sd/-

SHIVANAND G. HEGDE OMKAR P. HERLEKAR DIRECTOR DIRECTOR

Date: September 02, 2023 Place: Mumbai

Mar 31, 2018

Dear Members,

The Board of Directors are pleased to share with you the Business Performance under each of its strategic pillars along with the audited financial statements for the financial year ended March 31, 2018

Financial Highlights

Particular	Amount	Rs. in Lakhs)
As at Year end	March	March
As at Year end	31,2018	31,2017
Income from operations	24,583.88	21,822.92
Other Income	348.66	217.41
Total Income	24,932.54	22,040.33
Expenditure	20,458.20	17,270.44
Profit/ (Loss) before Depreciation, Interest and Tax	4474.34	4769.89
Less: Depreciation	1816.66	768.81
Profit/ (loss) before Interest and Tax	2657.68	4001.08
Less: financial Charges	1,134.35	1,167.72
Profit/ (Loss) Before Extraordinary Items & Tax	1523.33	2833.37
Less: Exceptional Items		2619.10
Add Excess Depreciation due to change in Depreciation method from WDV to SLM.
Less: (Excess)/ Short Tax Provision		2.71
Less: Provision for Taxation	316.33	_-
Add : Deferred Tax	(26.99)	(24.68)
Profit / (Loss) After Tax	1233.99	236.24
Add: Prior Period Income /(Expenditure) (Net)	-	-
Add: Other Comprehensive Income	(1.42)	(1.13)
Profit / (Loss) for the Year	1232.58	235.11

- PERFORMANCE REVIEW

- INCOME

Your company''s performance in the current Financial Year, in terms of total income stood at Rs. 24932.54 Lakhs as compared to Rs. 22,040.33 Lakhs in the previous year.

- PROFIT / LOSS BEFORE TAX

Your Company''s Profit before Tax for the current year was Rs. 1523.33 Lakhs as against Rs. 214.26 Lakhs in the previous year.

- PROFIT / (LOSS) AFTER TAX

Your Company''s Profit after Tax for the current year was Rs. 1233.99 Lakhs as against Rs. 236.24 Lakhs in the previous year.

Company has earned net revenue growth of over 18.39% and increase in overall profit by over 400%.

A detailed discussion of operations for the year ended March 31, 2018 is provided in the Management Discussion and Analysis Report, which is presented in a separate section forming part of this Annual Report.

- RIGHT ISSUE:

The Board of Directors at its meeting held on January 06, 2018 had approved Rights issue subject to receipt of necessary approvals from statutory, regulatory and other authorities, as applicable in accordance with the provisions of the companies Act, 2013, Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable laws. the Board of Directors also formed ''Fund Raising Committee'' to decide on issue terms, rights entitlement, fractional entitlements, timing of issue, appointment of various intermediaries, or any other matter incidental thereto and to make any applications to the regulatory authorities as may be required.

- SHARE CAPITAL

The movement of Equity Capital is as under:

Particulars

No. of Equity Shares

Equity Capital as on April 1, 2017

Increase/ Decrease during the year on May 2,

2017

On June 14, 2017

Equity Capital as on March 31, 2018

50000

2236445

20578004

22864449

Your Company has only one class of Equity Shares and it has neither issued shares with differential rights as to dividend, voting or otherwise nor issued shares (including sweat equity shares) to the employees or Directors of the Company, under any Scheme.

After the Scheme of Arrangement, the Company allotted the Shares in the Ratio of 1 Fully paid Equity Share against each share held in Omkar Speciality Chemicals Limited as on record date.

No disclosure is required under Section 67(3)(c) of the Companies Act, 2013 ("Act") in respect of voting rights not exercised directly by the employees or Key Managerial Personnel of the company as the provisions of this Section are not applicable.

- TRANSFER TO RESERVES

Your companies do not propose to transfer any amount to General Reserve out of the amount available for appropriations and an amount of Rs. 1233.99 lakhs is proposed to be retained in the Profit and Loss A/c.

- FINANCIAL LIQUIDITY

As at March 31, 2018 your Company had liquid assets of Rs. 263.48 Lakhs as against v 116.23 Lakhs at the previous year end.

Your company maintains sufficient cash reserves to meet its operations and strategic objectives.

- DEPOSITS

Your company has not accepted any deposits from public within the purview of Section 73 & 74 of the Act read with Companies (Acceptance of Deposits) Rules, 2014 during this Financial Year and, as such, no amount of principal or interest was outstanding as on the Balance Sheet date. The company has no deposit which is not in compliance with the provisions of chapter V of the Act and as the companies (Acceptance of Deposit) Rules, 2014.

- PARTICULARS OF LOANS, GUARANTEE OR INVESTMENTS U/S 186

Details of Loans, Guarantees and investments covered under the provisions of Section 186 of the Act and Schedule of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as "SEBI Listing Regulations, 2015") are given in the notes to the Financial Statements.

- MATERIAL CHANGES AND COMMITMENT

Except as disclosed elsewhere in the Report, there have been no material changes in commitment between the ends of financial year to which this financial statement relates on the date of this Report.

- COMPOSITE SCHEME OF ARRANGEMENT

During the year under review, the Hon''ble National Company Law Tribunal, Mumbai Bench has passed the Order on April 13, 2017 sanctioning the Scheme of Arrangement between Omkar Speciality Chemicals Limited and Lasa Laboratory Private Limited and Urdhwa Chemicals Company Private Limited and Rishichem Research Limited and Desh Chemicals Private Limited and Lasa Supergenerics Limited and their respective shareholders and creditors under Sections 391 to 394 of the Companies Act, 1956 / Sections 230 and 232 of the Companies Act, 2013. -

Certified true copy of the NCLT Order dated April 13, 2017 was filed with the Registrar of Companies on effective date i.e May 02, 2017

- LISTING OF EQUITY SHARES

Equity Shares of your company was Listed on both the Stock exchanges i.e NSE and BSE on September 21,2017

- RE-CLASSIFICATION OF CERTAIN PROMOTERS / PROMOTER GROUP

Reclassification of Certain Promoters/ Promoter group/ Entities was approved on April 16,2018 by National Stock Exchange vide their letter bearing No. NSE/ LIST/44127 and BSE vide their letter bearing No.LIST/COMP/MI/7/2018-19 April 16, 2018 approved reclassification of certain Promoter''s / Promoter group.

Subsequently below promoters / promoter group / entities were reclassified as public:

1) Mr. Pravin Shivdas Herlekar

2) Mr. Rishikesh Pravin Herlekar

3) M/S Omkar Speciality Chemicals Limited

4) M/S Svaks Biotech India Private Limited

- RELATED PARTY TRANSACTION

In line with the requirements of the Companies Act, 2013 and Listing Regulations, your Company has formulated a Policy on Related Party Transactions which is also available on the Company''s website at www.lasalabs.com. The Policy intends to ensure that proper reporting, Compliance and disclosure process are in place for all transactions between the Company and related parties.

All Related Party Transactions are placed before the Audit Committee for review and approval. Prior omnibus approval is obtained for Related Party Transactions which are of repetitive nature and / or entered in the Ordinary Course of Business and are at Arm''s Length.

- STATE OF COMPANY''S AFFAIRS

The Company is engaged in the business of manufacturing, Trading, producing, processing, preparing, API, pharmaceuticals, drugs etc. There has been no change in the business of the Company during the financial year ended March 31, 2018.

- DIVIDEND

In view of the planned business growth, your Directors deem it proper to preserve the resources of the Company for its activities and therefore, do not propose any dividend for the Financial Year ended March 31, 2018.

- SHARE CAPITAL

The Authorised Share Capital of the Company is Rs. 35.00.00.000/- (Rupees Thirty Five Crore only) divided into 3.50.00.000 Equity Shares of Rs. 10/- each which is proposed to be increased by 15,00,00,000 (Rupees fifteen Crore only) divided in to 1,50,00,000 equity Share of Rs. 10/- each.

The Board of Directors Propose to members for approval of Increase in Authorised Share Capital as mention in Resolution No 5 of annexed notice.

- DIRECTORS AND KEY MANAGERIAL PERSONNEL

Followings are Directors and Key Managerial Personnel''s and changes amongst them Post Composite Scheme of Amalgamation become effective:

INDUCTIONS

1) Mr. Sumant Kharasambale (Whole Time Director w.e.f.02.05.2017)

2) Mr. Shivanand Hegde (Whole Time Director w.e.f.02.05.2017)

3) Mr. Vishnu Gupta (Whole Time Director w.e.f. 12.02.2018)

4) Mr. Mithun Jadhav (Whole Time Director w.e.f. 13.08.2018)

5) Mr. Ajay Sukhwani (Independent Director w.e.f.02.05.2017)

6) Mr. Hardesh Tolani (Independent Director w.e.f.02.05.2017)

7) Ms. Ekta Gurnasinghani (Independent Director w.e.f.02.05.2017)

8) Ms. Manali Bhagtani (Independent Director w.e.f.12.02.2018)

9) Mr. Hitesh Wadhwani (Company Secretary and Compliance Officer w.e.f. 02.05.2017)

10) Mr. Minesh Bhosle (Chief Financial Officer w.e.f.02.05.2017)

11) Ms. Nidhi Kulshrestha (Company Secretary & Compliance Officer w.e.f 16.06.2018)

12) Mr. Ravi Shankar Kabra (Chief Financial Officer w.e.f.

13.08.2018)

RESIGNATIONS

1) Mr. Pravin Herlekar (Resigned w.e.f. 02.05.2017)

2) Mr. Rishikesh Herlekar (Resigned w.e.f. 02.05.2017)

3) Mr. Sumant Kharasambale (Resigned w.e.f. 16.06.2018)

4) Mr. Vishnu Gupta (Resigned w.e.f. 15.05.2018)*

5) Mr. Minesh Bhosle (Resigned w.e.f. 31.01.2018)

6) Mr. Hitesh Wadhwani(Resigned w.e.f 16.06.2018) *Appointment was not ratified by the Shareholders of the company through postal ballot / e-voting.

- FAMILIARISATION PROGRAMME FOR THE INDEPENDENT DIRECTORS

In compliance with the requirements of Regulation 25(7) of the Listing Regulations, 2015, the Company has put in place a Familiarisation Programme for the Independent Directors to familiarise them with the Company, their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, business model etc. The details of the Familiarisation Programme conducted is included in Corporate Governance report which forms a part of this report and are also available on the website of the Company www. lasalabs.com

- EVALUATION OF PERFORMANCE OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTOR

The Chairman of the Company interacted with each Director individually for evaluation of performance of the individual directors.

In a separate meeting of Independent Directors, performance of Non Independent Directors and performance of the Board as a whole was evaluated. Further, they also evaluated the performance of the Chairman of the Company, taking into account the views of the Executive Directors and Nonexecutive Directors.

The performance of the Board was evaluated after seeking inputs from all the Directors on the basis of various criteria such as structure and diversity of the Board, experience of Director, strategy and performance evaluation, secretarial support, evaluation of risk, evaluation of performance of the management and feedback, independence of the management from the Board etc. The performance of the Committees was evaluated by the Board after seeking inputs from the Committee members on the basis of criteria such as mandate and composition, effectiveness of the committee, structure of the committee and meetings, independence of the committee from the Board and contribution to decisions of the Board. The Nomination and Remuneration Committee reviewed the performance of the individual Directors on the basis of the criteria such as knowledge and competency, fulfillment of functions, availability and attendance, initiative integrity contribution and commitment, independence, independent views and judgment etc.

- COMMITTEE COMPOSITION

The details pertaining to composition of Committees are included in the Corporate Governance Report, which forms a part of this Report Annexure III

- DECLARATION BY AN INDEPENDENT DIRECTOR

The Company has received declarations from all Independent directors of the company confirming that they fulfill the criteria of independence as prescribed under sub-section (6) of Section 149 of the Act and as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations, 2015").

- NUMBER OF MEETINGS OF THE BOARD

During the year under review 16 (Sixteen) meetings of the Board of Directors were held as required under the Act and SEBI Listing Regulations, 2015. The details pertaining to the composition, terms of reference, etc. of the Board of Directors of your company and the meetings thereof held during the Financial Year are given in the Report on Corporate Governance section forming part of this Annual Report Annexure III

- POLICIES OF THE COMPANY

Following are the Policies which were formulated by the Company and also available on the website of the company

1. CSR Policy

2. Sexual Harassment Policy

3. Policy governing transactions with Related Parties

4. Vigil Mechanism Policy

5. Nomination & Remuneration Policy

6. Code of Conduct Policy

7. Human Resource Policy

8. People Personnel Manual Policy

- DIRECTORS RESPONSIBILITY STATEMENT

The Director Confirm that:

a) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

d) They had prepared the annual accounts on a going concern basis; and

e) They had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

- REMUNERATION POLICY FOR DIRECTORS, KEY MANAGERIAL PERSONNEL AND OTHER EMPLOYEES AND CRITERIA FOR APPOINTMENT OF DIRECTORS

- CONSOLIDATED FINANCIAL STATEMENTS

Not Applicable since company doesn''t have any subsidiaries during the year.

- INTERNAL FINANCIAL CONTROLS

The Company has in place well defined and adequate internal financial control framework. During the year under review, such controls were tested and no material weaknesses in their design and products and operation were found.

- EXTRACT OF ANNUAL RETURN

The details forming part of the extract of the Annual Return in Form MGT-9, as required under Section 92(3) of the Act read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014, is included in this report as Annexure I and forms an integral part of the Directors'' Report.

- CORPORATE SOCIAL RESPONSIBILITY (CSR)

In compliance with the requirements of Section 135 of the Act read with the Companies (Corporate Social Responsibility

Policy) Rules, 2014, the Board of Directors has constituted a Corporate Social Responsibility (CSR) Committee. The details of membership of the Committee & the meeting held are detailed in the Corporate Governance Report, forming part of this Report. The contents of the CSR Policy of the Company as approved by the Board on the recommendation of the CSR Committee is included in the Corporate Governance Report, which forms apart of this Report and also available on the website of the Company and can be accessed at www.lasalabs. com

- PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

The Board has received disclosures from the Directors relating to the material, financial and commercial transactions where they and/ or their relatives have personal interest. Related party transactions that were entered into during the financial year were on arm''s length basis, in the ordinary course of business and were in compliance with the applicable provisions of the Companies Act, 2013. There were no materially significant related party transactions made by the Company during the year. The details of transactions with related parties are given for information under notes to the accounts of the Balance Sheet as at March 31, 2018.

- CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

The details of foreign exchange earnings and outgo during the year under review are provided at Notes of the Audited Financial Statements. The members are requested to refer to the said note for details in this regards.

- PARTICULARS OF EMPLOYEES:

There were no employees drawing remuneration in excess of the limits prescribed under Section 196 and 197 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, during the year The Ratio of the remuneration of each whole time Director and Key Managerial Personnel to the median of employees Remuneration as per Section 197(12) of the Companies Act 2013 read with rule 5 of the Companies (Appointment & Remuneration of the management personnel) Rules,2014 forms part of this report as Annexure IV.

- REGULATORY APPROVALS:

The relevant regulations and policies as prescribed by the Government of India and other regulatory bodies have been duly complied with by your company.

Our manufacturing facilities are monitored and approved by various regulatory authorities. Periodic / Routine audits are conducted by such authorities for all approved facilities.

- COMMITTEES OF THE BOARD:

Your company has eight (8) committees of the Board of Directors as on March 31, 2018 out of which 4 are statutory committees and other 4 are committees considering the need of best practices in corporate governance of the company.

The policy has been explained in detail in the corporate Governance Report, which forms a part of this Report.

- CORPORATE GOVERNANCE REPORT

- MANAGEMENT DISCUSSION AND ANALYSIS:

Pursuant to Regulation 34 read with Schedule V of the SEBI Listing Regulations, 2015, detailed review of operations, performance and future outlook of the company is covered under a separate Annexure V to this report as Management''s Discussion & Analysis.

- PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

Your Company strongly believes in providing a safe and harassment free workplace for each and every individual working for the Company through various interventions and practices. It is the continuous endeavor of the Management of the Company to create and provide an environment to all its employees that is free from discrimination and harassment including sexual harassment. The Company has adopted a policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules thereunder. The Company arranged various interactive awareness workshops in this regard for the employees in the manufacturing sites, R & D set ups & Corporate Office during the financial year.

During the financial year ended March 31, 2018, no complaint pertaining to sexual harassment was received by the Company.

- VIGIL MECHANISM POLICY:

The company has devised an effective Vigil Mechanism for stakeholders including Directors, shareholders, employees to report concerns about unethical behavior, actual or suspected fraud or violation of the company''s code of conduct or ethics policy to freely communicate their concerns about illegal or unethical practices.

- AUDITORS AND AUDITOR''S REPORT:

Statutory Auditors:

During the year under review, Statutory Auditors M/s Shah & Kathariya, Chartered Accountants resigned w.e.f. February 17, 2018 stating their inability to continue as the Auditors of the Company due to their pre occupations.

The Board appointed M/s. Thanawala & Co., Chartered Accountants, (Firm Registration No. 110948W) as a statutory auditor to fill the casual vacancy.

The Board also appointed M/s. Ramanand & Associates, Chartered Accountants as Joint Statutory Auditors along with the existing Auditors of the Company on March, 2018.

However, their appointment was not ratified in the Postal Ballot reason being potential conflict of interest between the auditors.

It is now proposed to appoint M/s Thanawala & Co. as Statutory Auditors of the Company to hold office from the conclusion of ensuing Annual General Meeting till the conclusion of the Eighth Annual General Meeting to be held in the calendar year 2023 on such remuneration as agreed upon by the Board of Directors.

Further, the Company has received certificate from the Statutory Auditors to the effect that their appointment will be within the limits prescribed under the Companies Act, 2013 and that they are not disqualified for such appointment under the Companies Act, 2013

Cost Auditors:

The Board of Directors, on the recommendation of Audit committee, has appointed M/s N. Ritesh & Associates, cost Accountants, Mumbai (Firm Regn. no.: 100675) as the cost Auditor to audit the cost records of the company for Financial Year 2018-19.

The Company is seeking the ratification of the Shareholders for the Remuneration of M/s N. Ritesh & Associates, Cost Auditors, Mumbai (Firm Regn. no.: 100675) as the Cost Accountant of the company for the Financial Year ending March 31, 2019 vide item no. 7 of the notice of AGM.

Secretarial Auditors:

Pursuant to the 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 had appointed M/s Shivam Sharma & Associates, Practicing Company Secretary (M. No: A35727, CP. No: 16658) to undertake the Secretarial Audit of the company for the year ended March 31, 2018. The Secretarial Audit Report for the Financial Year ended March 31, 2018 has been annexed to this Report as Annexure V and forms an integral part of this Report.

- APPRECIATIONS AND ACKNOWLEDGEMENT:

Your Directors place on record their deep appreciation to all employees at all levels for their hard work, dedication and commitment. The efforts of the employees enabled to the company to remain an industry leader.

Your director would also like to acknowledge their excellent contribution by LASA to your company in providing the latest innovations, technological improvements and marketing inputs across almost all categories in which it operates. This has enabled the Company to provide higher levels of consumer delight through continuous improvement in existing products, and introduction of new products.

The Board places on record its appreciation for the support and cooperation your company has been receiving from its suppliers, distributors, retailers and other person associated with it as business partners. It will be your Company''s endeavor to build and nurture strong links with the trade based on mutuality of benefits, respect for and co-operation with each other, consistent with consumer interests. Your Directors also take this opportunity to thank all Shareholders, Clients, Vendors, Banks, Government and Regulatory Authorities and Stock Exchanges for their continued support.

For and on behalf of the Board of Directors of

LASA SUPERGENERICS LIMITED

SHIVANAND G. HEGDE OMKAR P. HERLEKAR

Place: Mumbai WTD CMD

Date:13.08.2018 (DIN00185508) (DIN01587154)

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