DIVIDEND POLICY

The declaration and payment of dividends, if any, will be recommended by our Board and approved by the
Shareholders, at their discretion, subject to the provisions of the Articles of Association and applicable law,
including the Companies Act 2013. The dividend, if any, will depend on a number of factors, including but not
limited to the earnings, capital requirements, contractual obligations, applicable legal restrictions and overall
financial position of our Company. We may retain all our future earnings, if any, for use in the operations and
expansion of our business. As a result, we may not declare dividends in the foreseeable future. Any future
determination as to the declaration and payment of dividends will be at the discretion of our Board and will depend
on factors that our Board deems relevant, including among others, our results of operations, financial condition,
cash requirements, business prospects and any other restrictive covenants under financing arrangements our
Company is currently availing of or may enter into, to finance our funding requirements for our business activities.
Our Board may also, from time to time, pay interim dividends from the profits of the financial year in which such
interim dividend is sought to be declared.

The amounts paid as dividends in the past are not necessarily indicative of our Company’s dividend payments, if
any, in the future. Our Company currently has no formal dividend policy.

The dividend paid by our Company on the Equity Shares in the nine months ended December 31, 2020 and Fiscals
2020, 2019 and 2018, is set out below:

 

Particulars Nine months ended Fiscal 2020 Fiscal 2019 Fiscal 2018
December 31, 2020

Number of equity shares 20,121,600 20,121,600 20,121,600 1,006,080

at year/period ended

Face value per equity 5 5 5 100

share (in 2)

Rate of dividend (%) Nil Nil 50% 10%

Dividend paid (in % Nil Nil 50.30 10.06

million)

Mode of payment of NA NA Bank transfer Bank transfer

dividend

 

Our Company has not paid any dividend for the period between January 1, 2021 and the date of filing of this
Prospectus.

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