Pine Labs is a Payment Solutions Company that is inter alia engaged in the business of providing software and information technology solutions including technology and payment and software solutions for point of sales, credit card and cash payment network of terminals at retailers and other ancillary services including the business of offering services in retail automation, retail payment solution and transaction processing in India. The management of the Company is working to increase the volume of the business in their best efficient manner. The Reserve Bank of India (RBI) has renewed the validity of Certificate of Authorization to act as Prepaid Payment Instrument under Payment and Settlement Systems Act, 2007 on perpetual basis. Further, the company has also received in principle authorization from RBI to operate as a Payment Aggregator under Payment and Settlement Act, 2007.  

The particulars as required under the provisions of Section 134(3) (m) of the Companies Act, 2013 in respect of conservation of energy and technology absorption have been furnished considering the nature of activities undertaken by the Company during the year under review.   (A) Conservation of energy-   (i) the steps taken or impact on conservation of energy; NIL (ii) the steps taken by the company for utilising alternate sources of energy; NIL (iii) the capital investment on energy conservation equipments; NIL (B) Technology absorption-   (i) the efforts made towards technology absorption; NIL (ii) the benefits derived like product improvement, cost reduction, product development or import substitution; NIL (iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)- NIL (a) the details of technology imported; NIL (b) the year of import; NIL (c) whether the technology been fully absorbed; NIL (d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof; and NIL (iv) the expenditure incurred on Research and Development. NIL (C) Foreign exchange earnings and Outgo-   The Foreign Exchange earned in terms of actual inflows during the year 374,212,696 The Foreign Exchange outgo during the year in terms of actual outflows 1,066,636,461     

The particulars as required under the provisions of Section 134(3) (m) of the Companies Act, 2013 in respect of conservation of energy and technology absorption have been furnished considering the nature of activities undertaken by the Company during the year under review.   (A) Conservation of energy-   (i) the steps taken or impact on conservation of energy; NIL (ii) the steps taken by the company for utilising alternate sources of energy; NIL (iii) the capital investment on energy conservation equipments; NIL (B) Technology absorption-   (i) the efforts made towards technology absorption; NIL (ii) the benefits derived like product improvement, cost reduction, product development or import substitution; NIL (iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)- NIL (a) the details of technology imported; NIL (b) the year of import; NIL (c) whether the technology been fully absorbed; NIL (d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof; and NIL (iv) the expenditure incurred on Research and Development. NIL (C) Foreign exchange earnings and Outgo-   The Foreign Exchange earned in terms of actual inflows during the year 374,212,696 The Foreign Exchange outgo during the year in terms of actual outflows 1,066,636,461     

The particulars as required under the provisions of Section 134(3) (m) of the Companies Act, 2013 in respect of conservation of energy and technology absorption have been furnished considering the nature of activities undertaken by the Company during the year under review.   (A) Conservation of energy-   (i) the steps taken or impact on conservation of energy; NIL (ii) the steps taken by the company for utilising alternate sources of energy; NIL (iii) the capital investment on energy conservation equipments; NIL (B) Technology absorption-   (i) the efforts made towards technology absorption; NIL (ii) the benefits derived like product improvement, cost reduction, product development or import substitution; NIL (iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)- NIL (a) the details of technology imported; NIL (b) the year of import; NIL (c) whether the technology been fully absorbed; NIL (d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof; and NIL (iv) the expenditure incurred on Research and Development. NIL (C) Foreign exchange earnings and Outgo-   The Foreign Exchange earned in terms of actual inflows during the year 374,212,696 The Foreign Exchange outgo during the year in terms of actual outflows 1,066,636,461     

As required under Section 134 (5) of the Companies Act, 2013, your Directors state that: in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; 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 at the end of the financial year March 31, 2023 and of the profit and loss of the company for that period; the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; the directors have prepared the annual accounts for the period ending March 31, 2023 on a going concern basis; and the directors have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively. Not applicable. 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.