The Company continues to accord priority to energy conservation. Company’s ‘energy saving’ team is committed to minimize the energy consumption and is implementing several energy saving projects. Consistent efforts are being made for identifying potential areas for energy saving

The Company continues to use the latest technologies for improving the productivity and quality of its services and products. The Company’s operations require significant import of technology.

(iii) Foreign Exchange Earnings and Outgo: Total Exchange used (Cash basis) As on 31st March 2022: 3477.27 Mn Total Foreign Exchange Earned (Accrual Basis) As on 31st March 2022: 1079.71 Mn

To the best of Board’s knowledge and belief and according to the information and explanations obtained by the Board of Directors, your Directors make the following statements in terms of Section 134(3) (c) of the Companies Act, 2013: a) in the preparation of the Financial Statements, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any; b) the Directors have 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 as on March 31, 2022 and of the Profit and Loss of the Company for that period; c) the Directors have taken proper and sufficient care for the 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 Directors have prepared the Financial Statements on a going concern basis; e) the Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and f) 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.