Markets

The Directors have pleasure in submitting their 33^rd Annual Report together with the Company's Audited Financial Statements
for the financial year ended March 31, 2026.

1. FINANCIAL SUMMARY

The Financial Performance Summary and the State of the Company's Affairs for the current financial year ended March 31,
2026, along with the figures for the previous financial year, are as follows:

{Rs.in Lakhs)

2. STATE OF THE COMPANY’S AFFAIRS
During the period under review, on the Standalone basis,
the Company achieved Total Revenue of Rs. 17,075.00
Lakhs, which increased by 52.59% as compared to the
Total Revenue of Rs. 11,190.20 Lakhs in the previous
financial year 2024-25. The Company recorded a Net Profit
after tax of Rs. 737.75 Lakhs, which increased by 61.08%
as compared to the Net Profit after tax of Rs. 457.99 Lakhs
in the previous financial year 2024-25.

During the period under review, on the Consolidated basis,
the Company achieved Total Revenue of Rs. 26,441.65
Lakhs, which increased by 108.30% as compared to the
Total Revenue of Rs. 12,694.14 Lakhs in the previous
financial year 2024-25. The Company recorded a Net Profit
after tax of Rs. 851.75 Lakhs, which increased by 76.09%
as compared to the Net Profit after tax of Rs. 483.70 Lakhs
in the previous financial year 2024-25.

3. IMPORTANT HIGHLIGHTS WITH RESPECT TO THE
TRADING APPROVAL OF THE COMPANY IN THE
BSE LIMITED

(a) ACS Technologies Limited received the final trading
approval from BSE Limited on April 29, 2025.
Pursuant to this, the equity shares of the Company
were listed and permitted to trade on the BSE
platform with effect from May 7, 2025, at an opening
share price of T3.53, which was subsequently revised
by BSE and again on 9* May 2025 the opening share
price was Rs 16.99.

(b) During the financial year under review, the Company
issued 3,96,90,000 Convertible Share Warrants on a
preferential basis pursuant to the approval of the
shareholders obtained on 15th October, 2025. The
Company received in-principle approval on 17th
November, 2025 in respect of the said Convertible
Share Warrants.

Out of the aforesaid warrants, 86,95,000 Convertible
Share Warrants were exercised upon receipt of the
balance 75% of the issue price, and consequently, the
Company allotted 86,95,000 Equity Shares of *10/-
each at an issue price of *31.25/- per Equity Share.
The Company received trading approval on 5th
August, 2026 for the said Equity Shares arising from
conversion of the warrants.

(c) The Company proposed to issue and allot 49,50/495
fully paid-up Equity Shares of *10/- each at an issue
price of *40.40/- per Equity Share, aggregating to
*20 Crore, on a preferential basis to Adiniya
Investments Private Limited, towards conversion of
its legally enforceable outstanding unsecured loan into
equity shares of the Company. The Company applied
for in-principle approval on 4th August, 2026 for the
aforesaid preferential issue, and the application is
currently under process with the Stock Exchange.

(d) During the year under review, Infomerics Valuation
and Rating Limited assigned credit ratings to the bank
facilities of ACS Technologies Limited vide its rating
letter/press release dated January 21, 2026. The
Company has been assigned a rating of IVR
BBB-/Stable for its Long-Term Bank Facilities
amounting to *57.00 Crore and IVR A3 for its Short¬
Term Bank Facilities amounting to *43.00 Crore,
aggregating to *100.00 Crore of total bank facilities
rated. The ratings assigned by the agency reflect its
assessment of the Company’s credit profile and
financial obligations. The detailed rating rationale and
related disclosures are provided in the rating
letter/press release issued by Infomerics Valuation
and Rating Limited.

4. BOARD OF DIRECTORS AND
OTHER INFORMATION

a) The Company’s Board of Directors have been
constituted in compliance with the provisions of
Companies Act read with the SEBI (Listing Obligation
and Disclosure Requirements) Regulations, 2015
("SEBI (LODR) Regulation". The Composition of the
Board is as under:

1. Mr. Ashok Kumar Buddharaju — Chairman &
Managing Director

2. Ms. Anitha Alokam — Whole-time Director

3. Mr. CV Satyanarayana Murthy
Independent Director

4. Mr. Srinivasan Neti — Independent Director

5. Dr. SwarnaSubba Rao — Independent Director

b) Details of Directors or KMPs resigned during and after
the end of the financial year under review.

No, Director or KMPs resigned during and after the end
of financial year

c) Details of Directors or KMPs appointed/re-appointed
during and after the end of the financial year
under review.

Yes, Dr. MJA Vinoth is a KMP appointed as Chief
Executive Officer of the Company after the end of
financial year

d) In accordance with the provisions of Companies Act,
2013, Mr. Ashok Kumar Buddharaju Chairman and
Managing Director of the Company would retire by
rotation and, being eligible, offer himself for re¬
appointment. The Board of Directors recommends
his re-appointment at the ensuing Annual
General Meeting.

e) Details of Whole-Time Key Managerial
Personal (KMP)

Pursuant to the provisions of Section 203 of the Act
read with the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014,
the Key Managerial Personnel of the Company

f) Other Disclosure
BOARD EVALUATION

Pursuant to Section 178 (2) of the Companies Act,
2013, the Nomination and Remuneration Committee
has evaluated the performance of individual Directors
in its duly convened meeting. Pursuant to Section 134
(3) (p) of the Companies Act, 2013 and Regulation 4 (2)
(f) GO (9) of the ("SEBI (LODR) Regulation, 2015, the
Board has carried out an evaluation of its own
performance, as well as the evaluation of the
Committees of the Board. The manner in which the
evaluation has been carried out has been explained in
the Corporate Governance Report.

REMUNERATION POLICY

The Board has, on the recommendation of the Nomination
& Remuneration Committee framed a policy for selection
and appointment of Directors, Senior Management and
their remuneration. Remuneration Policy is stated in the
Corporate Governance Report.

FAMILIARIZATION PROGRAMMES
FOR INDEPENDENT DIRECTORS

The Independent Directors of the Company are eminent
professionals with several decades of experience in
banking and financial services, technology, finance,
governance and management areas, and fully conversant
and familiar with the business of the Company. The
Company has an ongoing familiarization programme for all
Independent Directors with regard to their roles, duties,
rights, responsibilities in the Company, nature of the
industry in which the Company operates, the business
model of the Company, etc.

MEETINGS

During the year, Ten (10) Board Meetings and Ten (10) Audit
Committee Meetings were convened and held. The details
of which are given in the Corporate Governance Report. The
intervening gap between the Meetings was within the
period prescribed under the Companies Act, 2013.

DECLARATION OF INDEPENDENCE
As required under Section 134 (3) (d) of the Companies Act,
2013, All independent directors as mentioned above have
given declarations to the Company that they meet the
criteria of independence as laid down under section 149 (6)
of the Companies Act, 2013 and Regulation 16(l)(b) of the
SEBI (LODR) Regulation 2015.

5. DIVIDEND

The Directors have not recommended any dividend for the
current financial year.

6. RESERVE AND SURPLUS

During the financial year 2025-26, the Company has not
transferred any amount to amount to general reserve.

7. SHARE CAPITAL

(A) NO CHANGE IN AUTHORIZED CAPITAL:

During the financial year under review, there was no change
in the Authorized Share Capital of the Company, which
continues to be *172,00,00,000 (Rupees One Hundred
Seventy-Two Crore only). However, the issued, subscribed
and paid-up equity share capital of the Company increased
pursuant to the allotment of equity shares upon conversion
of convertible warrants issued on a preferential basis.

(B) PREFERENTIAL ISSUE OF
CONVERTIBLE WARRANTS.

During the financial year under review, the Company issued
3,96,90,000 Convertible warrants, convertible into, or
exchangeable for equivalent number of Equity shares of the
company on a preferential basis at an issue price of *31.25
(Rupees Thirty-One and Paise Twenty-Five only) per equity
share pursuant to the approval of the shareholders
obtained on 15^th October, 2025_, in accordance with the
provisions of Sections 42 and 62(l)(c) of the Companies
Act, 2013, read with Rule 13 of the Companies (Share
Capital and Debentures) Rules, 2014 and Chapter V of the
SEBI (Issue of Capital and Disclosure Requirements)
Regulations, 2018.

The allottees have paid 25% of the warrant issue price as
upfront consideration at the time of allotment. After the
end of the financial year 2025-26, 86,95,000 (Eighty-Six
Lakhs Ninety-Five Thousand) Convertible Warrants were
exercised upon receipt of the balance 75% of the issue
price, and consequently, the Board allotted 86,95,000
(Eighty-Six Lakhs Ninety-Five Thousand) Equity Shares of
face value *10/- (Rupees Ten only) each at an issue price of
*31.25 (Rupees Thirty-One and Paise Twenty-Five only)
per equity share.

Consequent to the aforesaid allotment, the issued,
subscribed and paid-up equity share capital of the
Company stood increased in accordance with the
applicable provisions of the Companies Act, 2013, the SEBI
(Issue of Capital and Disclosure Requirements)
Regulations, 2018 and other applicable laws.

The Company appointed Credit Rating Agency i.e. CARE
Ratings Limited as the Monitoring Agency to monitor the
use of the proceeds of the aforementioned issue.

(C) PREFERENTIAL ISSUE CONVERSION OF LOAN
INTO EQUITY.

After the end of the financial year 2025-26, the Company
proposed to issue and allot 49,50,495 fully paid-up Equity
Shares of ¥10/- each at an issue price of ¥40.40/- per
Equity Share, aggregating to ¥20 Crore, on a preferential
basis to Adiniya Investments Private Limited, towards
conversion of its legally enforceable outstanding unsecured
loan into equity shares of the Company. The proposed
preferential issue is subject to the approval of the Members
and such other statutory, regulatory and other approvals as
may be required under the applicable provisions of the
Companies Act, 2013, SEBI (Issue of Capital and
Disclosure Requirements) Regulations, 2018 and other
applicable Laws.

The Equity Shares proposed to be allotted shall rank pari
passu in all respects with the existing fully paid-up equity
shares of the Company and shall be subject to the
applicable lock-in requirements prescribed under the SEBI
ICDR Regulations.

(D) CHANGE IN ISSUED/SUBSCRIBED/PAID-
UP CAPITAL:

After the end of the financial year 2025-26, the
Issued/Subscribed/Paid-up Capital of the Company is Rs.
69,43,69,480/- (Rupees Sixty Nine Crore Forty Three Lakh
Sixty Nine Thousand Four Hundred and Eighty) divided
into 6,94,36,948 Equity shares of Rs. 10/- (Rupees Ten
only) each.

The increase in the Issued, Subscribed and Paid-up Equity
Share Capital from 6,07/41,948 Equity Shares to
6,94,36,948 Equity Shares was on account of the
allotment of 86,95,000 (Eighty-Six Lakhs Ninety-Five
Thousand) Equity Shares pursuant to the exercise and
conversion of an equivalent number of Convertible
Warrants into equity shares upon receipt of the balance
75% of the warrant issue price at an issue price of ¥31.25
per Equity Share, in accordance with the provisions of
Sections 42 and 62{l)(c) of the Companies Act, 2013,
read with Rule 13 of the Companies (Share Capital
and Debentures) Rules, 2014 and Chapter V of the
SEBI (Issue of Capital and Disclosure Requirements)
Regulations, 2018.

8. DIRECTORS' RESPONSIBILITY STATEMENT:

In pursuance of Section 134(5) of the Companies Act,
2013, your directors confirm:

a) That the directors in the preparation of the annual
accounts the applicable accounting standards have
been followed along with proper explanations relating
to material departures.

b) That the directors 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 and loss of the Company for
that period.

c) That the directors had taken proper and sufficient care
for the maintenance of adequate accounting records in
accordance with the provisions of this Act for safe
guarding the assets of the company and for preventing
and deleting fraud and other irregularities.

d) That t he d i recto rs had p re pared t he a nn ual acco unts
on the going concern basis.

e) That the directors had laid down internal financial
controls to be followed by the Company and that such
internal financial controls are adequate and were
operating effectively.

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

9. POLICY ON PREVENTION, PROHIBITION
AND REDRE55AL OF SEXUAL HARASSMENT
AT WORKPLACE

The Company has put in place the Prevention of Sexual
Harassment Policy (POSH) in line with the requirements of
the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013. An
Internal Compliance Committee (ICC) has been constituted
in compliance with the requirements of said Act to redress
complaints received regarding sexual harassment. All
employees are covered under this Policy. Employees at all
levels are being sensitized about the Policy and the
remedies available thereunder. During the Financial year
2025-26, Nil complaints were received by ICC.

10. RESEARCH AND DEVELOPMENT,

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

A. CONSERVATION OF ENERGY

Being an IT services company, the Company's operations
do not involve energy-intensive manufacturing processes.
However, the Company continues to focus on responsible
energy management by adopting energy-efficient

technologies and promoting sustainable workplace
practices.The Company has undertaken the

following initiatives:

1. InstallationofLEDlightingand energy-efficie nt
electrical fixtures.

2. Optimization of air-conditioning systems
and periodic maintenance to reduce
power consumption.

3. Implementationof powe r m anage me nt sett i ngs o n
IT infrastructure.

4. Encouraging digital documentation and minimizing
paper usage.

5. Conductingvirtualmeetingstoreduce trave land
associated energy consumption.

6. Creatingemp loyee awa renessregardingefficient
use of energy resources.

These initiatives have contributed to optimizing
energy consumption and reducing the Company's
environmental footprint.

B. TECHNOLOGY ABSORPTION

There is no technology absorption involved in the
operations of the Company.

C. EXPENDITURE INCURRED ON RESEARCH
AND DEVELOPMENT

No expenditure was incurred on Research and
Development by the Company during the period
under review.

D. FOREIGN EXCHANGE EARNINGS AND OUTGO

11. AUDITORS

A. STATUTORY AUDITORS

M/s. GORANTLA & Co., Chartered Accountants, (Firm
Registration No: 16943S) have been re-appointed at the
30^th AGM held on September 30, 2023 as the Statutory
Auditors of the Company for a second term of Five (5)
consecutive years to audit the financial statements of the
Company from FY 2022-23 to FY 2027-28 and to hold
office from the conclusion of 30^thAGM till the conclusion of
35^thAGM. The Independent Auditors' Report and Annexure
referred to this Report are self-explanatory and do not
call for any further comments. The Auditors' Report does
not contain any qualification, reservation, adverse remark
or disclaimer.

B. SECRETARIAL AUDITORS AND SECRETARIAL
AUDIT REPORT

Pursuant to the provisions of Section 204 of the Companies
Act, 2013 and the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the
Board has appointed VCSR and Associates, Practicing
Company Secretaries in Whole-time Practice, a peer
reviewed firm, having Firm Registration No.
P2014AP034200 to carry out Secretarial Audit for the
period of five years 2025-2026 to hold office from the
conclusion of the ensuing 32^nd Annual General Meeting till
the conclusion of the 37^th Annual General Meeting of the
Company to be held in the year 2030, subject to the
approval of the shareholders of the Company at the ensuing
32^nd Annual General Meeting. The report of the Secretarial
Auditor in Form MR-3 for the FY 2024-25 is enclosed as
Annexurelandformspartofthisreport.

C. INTERNAL AUDITOR

Pursuant to the provisions of Section 138 of the Act and
based on the recommendations of Audit Committee, the
Board of Directors at their meeting held on May 28, 2026,
have reappointed M/s BLR & Associates as Internal
Auditors of the Company for the financial year 2026-27.
M/s BLR & Associates, Chartered Accountants, have
confirmed their willingness to be reappointed as the
Internal Auditors of the Company. Further, the Audit
Committee in consultation with Internal Auditors,
formulated the scope, functioning periodicity and
methodology for conducting the Internal Audit.

12. PARTICULARS OF EMPLOYEES

The information required pursuant to Section 197(12) read
with Rule 5(1) of The Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 and
Companies (Particulars of Employees) Rules, 1975 in
respect of employees of the Company and Directors is
annexed herewith as Annexure 2.

13. WEB-ADDRESS OF ANNUAL RETURN

Web-address of the draft Annual Return pursuant to sub¬
section (3) of Section 92 is updated in the website of the
Company. Link for the Annual Return is as under
htt ps://www.acstech no logies.co. i n/an n ual_repo rts. ht m 1

14. RELATED PARTY TRANSACTIONS

All related party transactions were placed before the Audit
Committee for approval. Prior omnibus approval of the Audit
Committee was obtained for the transactions which are
foreseen and are repetitive in nature. The related party
transactions entered into by the Company are reviewed by

Note: As per the audited balance sheet of ACS Technologies
Limited, IOTIQ INNOVATIONS PRIVATE LIMITED has been
identified and declared as a material subsidiary. This
classification is based on the significance of its financial
performance and/or assets relative to the parent company,
ACS Technologies Limited. Being a material subsidiary,
IOTIQ Innovations Private Limited’s financials and
operations are subject to additional oversight and
disclosure requirements in line with regulatory norms to
ensure transparency and effective governance.

independent Chartered Accountants to confirm that they
were in the ordinary course of business and on an arm’s
length basis.

Form A0C-2 will not form part of Board’s report, as all the
transactions with related parties are on an arm’s length
basis or in ordinary course of business. There are no
materially significant related party transactions during the
year which may have a potential conflict with the interest of
the Company at large. Related party transactions as
required under the Indian Accounting Standards are
disclosed in Notes to the financial statements of the
Company for the financial year ended March 31,2026.

The Policy on Related Party Transaction is available on the
Company’s website at

htt ps://w ww.acstec h no logies.co. in/an nual_ret urn. htm 1

HOLDING, SUBSIDIARY/ ASSOCIATE COMPANIES
As on 31^stMarch, 2026, the Company does not have any
Holding Company, Two (2) Subsidiary Companies, the
details of which are tabulated hereunder.

Innovistas Innovations Private Limited is another Subsidiary
of ACS Technologies Limited incorporated on 24^th
February, 2026.

15. CORPORATE GOVERNANCE

The Corporate Governance Report together with the
Certificate from the Practicing Company Secretary of the
Company regarding compliance with the requirements
of Corporate Governance as stipulated SEBI (LODR)
Regulations, 2015 is appended as Annexure 3 to
this Report.

16. MANAGEMENT DISCUSSION & ANALYSIS REPORT
The Management Discussion and Analysis Report
highlighting the industry structure and developments,
opportunities and threats, future outlook, risks and
concerns, etc., is provided separately in the Annual Report
and forms part of this Directors' Report.

17. VIGIL MECHANISM / WHISTLE BLOWER POLICY
The Company promotes ethical behavior in all its business
activities and has put in place a mechanism for reporting
illegal or unethical behavior. The Company has established
a robust Vigil Mechanism and a whistle-blower policy in
accordance with provisions of the Act and Listing
Regulations. Under the whistle-blower policy, employees
are free to report any improper activity resulting in violation
of laws, rules, regulations, or code of conduct by any of the
employees to the Competent Authority or Chairman of the
Audit Committee, as the case may be. Any complaint
received is reviewed by the Competent Authority or
Chairman of the Audit Committee as the case may be. No
employee has been denied access to the Audit Committee.
The policy on Vigil Mechanism/Whistle-Blower can be
accessed on the Company’s website at:
htt ps://w ww. acstec hno logies.co. i n/assets/docs/Code %20o
f%20Conduct/WHISTLEBLOWER%20%20P0LICY(l).pdf

18. INTERNAL CONTROL SYSTEMS AND
THEIR ADEQUACY

The Company has an Internal Control System,
commensurate with the size, scale and complexity of its
operations. To maintain its objectivity and independence,
the Internal Auditor reports to the Chairman of the Audit
Committee of the Board & to the Chairman & Managing
Director of the Company. The Internal Auditor monitors and
evaluates the efficacy and adequacy of internal control
system in the Company, its compliance with operating
systems, accounting procedures and policies at all
locations of the Company. Based on the report of internal
audit function, process owners undertake corrective action
in their respective areas and thereby strengthen the
controls. Significant audit observations and
recommendations along with corrective actions thereon are
presented to the Audit Committee of the Board.

19. INTERNAL FINANCIAL CONTROL

The Company has in place adequate internal financial
control commensurate with the size, scale and complexity
of its operations. During the year, such controls were tested
and no reportable material weakness in the design or
operations were observed. The Company has policies and
procedures in place for ensuring proper and efficient
conduct of its business, the safeguarding of its assets, the
prevention and detection of frauds and errors, the accuracy
and completeness of the accounting records and the timely
preparation of reliable financial information. The Company
has adopted accounting policies which are in line with the
Accounting Standards and the Act. These are in accordance
with generally accepted accounting principles in India. The
Company has a robust financial closure, certification
mechanism for certifying adherence to various accounting
policies, accuracy of provisions and other estimates.

20. HEALTH AND SAFETY/ INDUSTRIAL RELATIONS
Your Company places the highest importance on the health,
safety and well-being of its employees and is committed to
providing a safe, healthy and conducive work environment.
The Company continues to implement appropriate health
and safety measures, promote employee awareness
and ensure compliance with all applicable statutory
requirements relating to workplace safety and
employee welfare.

As an information technology services company, the
Company's operations are not of a hazardous nature.
Nevertheless, the Company has established appropriate
workplace health and safety practices, including periodic
safety awareness initiatives, emergency preparedness
measures, fire safety systems, first-aid facilities,
ergonomically designed workstations and regular

maintenance of office infrastructure to ensure a safe
working environment for all employees and visitors.

The Company also encourages employee well-being
through various health and wellness initiatives, preventive
healthcare awareness programmes and a positive work
culture that supports employee engagement, diversity,
inclusion and equal opportunity.

21. OTHER INFORMATION

A. PARTICULARS OF LOANS, GUARANTEES
OR INVESTMENTS

The Company has given corporate guarantee to the State
Bank of India for the working capital facility availed by its
Subsidiary IOTIQ Innovations Private Limited for the
amount of Rs. 5.39 crore.

The Company enhanced its credit facilities to Rs. 48.59
crore from HDFC Bank Limited, which is well within the
borrowing limits of the Company.

B. REPORTING OF FRAUDS

There have been no instances of fraud reported by the
Statutory Auditors of the Company under Section 143(12)
of the Companies Act, 2013 and the Rules framed there
under either to the Company or to the Central Government.

C. PUBLIC DEPOSITS

Your Company has not accepted any deposits within the
meaning of Section 73 or 74 of the Companies Act, 2013
and Companies (Acceptance of Deposits) Rules, 2014.

D. DEMATERIALIZATION OF SHARES

The equity shares of the Company are compulsorily traded
in dematerialized form and are available for trading through
the depository system of the National Securities Depository
Limited (NSDL) and Central Depository Services (India)
Limited (CDSL).

The Company's International Securities Identification
Number (ISIN) isINE366C01021.

As on March 31, 2026 100 % of the Company's equity
shares were held in dematerialized form with NSDL
and CDSL.

E. RISK MANAGEMENT

Pursuant to section 134 (3) (n) of the Companies Act, 2013
& Regulation 21 of the Listing Regulation, the company has
not constituted a risk management committee. As this
Regulation is not applicable to the Company.

F. SIGNIFICANT & MATERIAL ORDERS PASSED BY
THE REGULATORS OR COURTS OR TRIBUNALS
IMPACTING THE GOING CONCERN STATUS OF
THE COMPANY

During the period under review, ACS Technologies Limited
has filed a plea on 01 ^st April, 2026 before the Hon'ble
National Company Law Tribunal (NCLT) seeking directions
to Central Depository Services (India) Limited (CDSL) to
complete the corporate action in accordance with the
approved resolution plan of the Company. The company has
requested the Tribunal to direct CDSL to give effect to the
extinguishment and cancellation of 83,82,652 equity
shares belonging to the promoters' category and to proceed
with the allotment of 60,340 equity shares to other
shareholders whose shares are pledged, as mandated

under the resolution plan. Despite the plan having been
duly approved under the provisions of the Insolvency and
Bankruptcy Code, CDSL has not implemented these
corporate actions, prompting ACS Technologies Limited to
approach the NCLT to ensure compliance with the binding
terms of the approved resolution plan, there are no
significant and material orders passed by the Regulators or
Courts or Tribunals which would impact the going concern
status and the Company's future operations.

G. CHANGE IN THE NATURE OF BUSINESS

During the Financial Year under review, there was no
change in the nature of business of the Company.

H. COMPLIANCE WITH SECRETARIAL STANDARD
The Directors have devised proper systems to ensure
compliance with the provisions of all applicable Secretarial
Standards and that such systems are adequate and
operating effectively.

I. APPLICATION MADE OR ANY PROCEEDING
PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016 (31 OF 2016)

During the period under review, there were no application
made or any proceeding pending under the Insolvency and
Bankruptcy Code, 2016 (31 of 2016).

3. COST AUDIT

The provisions of Section 148 of the Companies Act, 2013
w.r.t. cost audit is not application to the Company.

K. REGISTERED OFFICE OF THE COMPANY WITHIN
THE LOCAL LIMIT OF THE CITY
The registered office of the Company is at Pardha Picasa,
Level 7, Durgam Cheruvu Road, Mad hap ur, Hyderabad,
Telangana, India, 500081 in the local limits from its current
address w.e.f. May 6,2024.

22. ACKNOWLEDGEMENT

The Directors take this opportunity to place on record their
sincere thanks to the Banks and Financial Institutions,
Insurance Companies, Central and State Government
Departments and the shareholders for their support and
Co-operation extended to the Company from time to time.
Directors are pleased to record their appreciation of the
sincere and dedicated services of the employees and
workmen at all levels.

By order of the Board
For ACS Technologies Limited
Ashok Kumar Buddharaju
Chairman and Managing Director
(DIN:03389822)