Dear Shareholders,

The Directors present the 1^st Integrated Report prepared as per the Integrated Repoting Framework of the International Integrated Reporting Council (IIRC) and 59^th Annual Report of Engineers India Limited (the Company or Your Company or EIL) along with Audited Standalone and Consolidated Financial Statements of Accounts, the Auditors' Report and Review of the Accounts by the Comptroller & Auditor General of India for the Financial Year ended March 31,2024.

1. 2023-24 in Retrospect

Your Company sustained its good performance during FY 2023-24. The key highlights of the financial performance of the Company for the year, as stated in the audited financial statement, along with the corresponding performance for the previous year are as under:

Financial Performance -

(Figures in H Lakhs)

Segment wise Performance

*includes H 1,423.23 Lakhs (previous year: H 3144.20 Lakhs) towards provident fund liability/ provision for impairment on account of Provident Fund Trust investment.

*Property, Plant & Equipment and other assets used in the Company's business or segment liabilities contracted have not been identified to any of the reportable segments, as these assets and support services are used interchangeably between segments. Accordingly, no disclosure relating to total segment assets and liabilities has been made and capital employed has been presented.

2. Dividend

The Board of Directors of your Company has recommended final dividend of H 1/- per share (on face value of H 5/- per share) for the financial year 2023-24, in addition to H 2/- per share interim dividend already paid during the year. With this, the total dividend for the financial year 2023-24 works out to H 3/- per share amounting to H 16,861.27 Lakhs and Dividend payout of 47.23% of standalone profits of the Company. The final dividend shall be paid to the Members whose names appears in the Register of Members as well as beneficial ownership position provided by NSDL/ CDSL as on record date on 21^st August, 2024. The Board has formulated Dividend Distribution Policy, in terms of Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") and dividends declared/ recommended as per the Policy. The Policy is hosted on the website of the Company at https://www. engineersindia.com/Investor/landing.

3. Transfer to Reserves

Your Company is proposing to transfer to general reserves in FY 2024-25, after adjustment of payment of proposed final dividend, if approved by the shareholders in the Annual General Meeting for FY 2023-24, from balance of retained earnings of H25,306.21 Lakhs as on March 31,2024 excluding loss on account of remeasurement of Defined Benefit Plans of H9,000.32 Lakhs.

4. Investor relations

It has been a constant endeavour of your Company to achieve highest standards of corporate governance and all measures are being taken to enhance market confidence and improve shareholder engagement through periodic, regular, transparent and open communication.

The Management is committed to sharing information with investor community on the Company's performance and convey essential updates on expected projects, new business initiatives, future outlook, industry insights and avenues of growth potential and investment plans periodically.

Investor Relations provides timely communication of such information which acts as an effective bridge between the management and investor community. The Investor Relations Cell handles all investor concerns and issues efficiently, aligning it with disclosure requirements, transparency and Corporate Governance Rules & Regulations, thereby inculcating a "trust relationship" with the stakeholders.

The Management and Investor Relations Cell are actively communicating with the investors by means of one-on- one meetings, conference calls/earning call, investor conferences, etc. The print and web media are also being utilized for timely dissemination of vital information, which is extremely significant in the financial world.

5. Management Discussion and Analysis Report

The Management Discussion & Analysis Report, as required in terms of the Securities and Exchange Board of India (Listing Obligations & Disclosures Requirements) Regulations, 2015, (Listing Regulations) and Corporate Governance Guidelines for CPSEs issued by DPE and forms a part of this Annual Report.

6. Business Responsibility and Sustainability Report

The Company has provided Business Responsibility and Sustainability Report in the new reporting format which indicates the Company's performance against the principles of the 'National Guidelines on Responsible Business Conduct'. This would enable the Stakeholders to have an insight into Environmental, Social and Governance initiatives of the Company and forms a part of this Annual Report.

7. Net Zero

EIL is committed to achieve net-zero carbon emissions by 2035 through a phased approach, implementing several strategic initiatives. The company has prioritized enhancing energy efficiency across its assets including application of Building Management Systems (BMS) to automate HVAC operations. Furthermore, EIL is expanding its solar PV installation at the Gurugram Campus, aiming for a total capacity of approximately 800 kW to reduce scope-2 emissions. The company has also initiated activities to enhance the solar power generation capacity of its Branch Offices. Recently, a showcase windmill of 600 W capacity pilot project was also executed at one of the Branch offices of EIL. In addition, several initiatives have been taken by the company including transforming the systems towards digital platforms to minimize use of papers and optimization of resources. In the long run, the company has been nudging the employees through various incentives to adopt low carbon emission modes of travel such as using Electric Vehicles (EVs) thereby reducing scope-3 emissions. It is worth noting that EIL has reduced its total scope-1 and scope-2 emissions in the previous fiscal year by around 6% compared to the FY 2022-23 and is committed to assist its clients in achieving their decarbonization journey using the organizational vast experience and capabilities.

EIL is expanding its solar PV installation at the Gurugram Campus, aiming for a total capacity of approximately 800 kW to reduce scope-2 emissions.

8. Consultancy Assignments (Domestic)

During the year, your Company has successfully completed major assignments across its business operations and achieved considerable progress in other assignments as highlighted below:

Upstream Oil and Gas

During the year, your Company continued to achieve new benchmarks in Offshore Oil & Gas and LNG sectors. The following consultancy assignment was successfully completed during the year:

• Mechanical Completion of all three EPCCs achieved for LNG Import, Storage and Regasification Terminal Project, Chhara (Gujarat).

• SPM (N1 & N2) successfully commissioned for Crude handling facility at Vadinar (Gujarat).

The following assignments are currently under execution:

• Detailed Feasibility Report (DFR) and Front-End Engineering Design of LPG Import Jetty at Dahej, Gujarat of HPCL.

• Study of potential ports to explore possibility of Ethane Imports on Western Coast of India for GAIL.

• DFR for Augmentation of 400 KTA Ethane Feedstock to Pata Petrochemical Complex, GAIL.

• Feasibility study for removal of impurities from Natural gas for OIL Gas processing plant at Dandewala.

• Consultancy Services for Life Extension of Wellhead Platform (LEWP) 1,2 and 4, Western Offshore of ONGC. ^•

• Project Management Consultant (PMC) for HPLNG's LNG import, storage and re-gasification terminal with capacity of 5 MMTPA with potential expansion to 10 MMTPA capacity at Chhara, Gujarat. The project is under commissioning.

• Consultancy services for design, engineering, technical studies, supervision and assistance for crude handling facilities project in Gulf of Kutch off Vadinar, Gujarat of IOCL.

• PMC Services for Two LNG Storage Tanks Project at Dahej LNG Terminal of Petronet LNG Ltd., Dahej, Gujarat.

• EPCM Services for Dahej Regasification Expansion Project (17.5 to 20 MMTPA) of Petronet LNG Ltd.

• Engineering, Procurement and Construction Management (EPCM) Services for Dahej Regasification Expansion Project (20 to 22.5 MMTPA) of Petronet LNG Ltd.

• Construction work of Breakwater at LNG Terminal, Dabhol Maharashtra has achieved a major milestone with the successful completion of stretch of 100 meter with Accropode placement.

• Revamp of Gas Terminal II of ONGC, Hazira Plant under OBE mode.

• Consultancy service for Debottlenecking studies of Gas Compression, GDU, Rich Lean Gas Pipeline, GSU/ C2+ recovery unit at BCPL Lepetkata.

• Consultancy service for DFR study of Debottlenecking of GSU/ C2+ Recovery unit of BCPL Lakwa.

• Additional Facilities for modifications required at GAIL PATA/ Vijaipur after new C2/ C3 pipeline for receiving C2/C3 liquid to existing storage at GAIL PATA.

• DFR to study the potential ports to explore possibility of Ethane imports on Western Coast of India including HVJ pipeline adequacy and C2/C3 unit adequacy of GAIL Vijaipur and PATA.

The following are the new jobs secured by your company during the year:

• PMC Services of EPC-1 & EPC-3 Packages for LNG Liquefaction, Storage and Export Terminal Project at Akwa Ibom, Nigeria" from Padah LNG FZE.

• FEED Engineering Services for Unloading Pipelines, Onshore Storage Tank Farm and Associated Facilities at Dahej, Gujarat from GCPL.

• Detailed Feasibility Report for transportation of LNG through ISO containers from Kochi to Colombo in Srilanka in line with the Neighbour first policy of Government of India, which will assure energy security and boost bi-lateral relation in the region

• Detailed Feasibility study for 5 mmtpa land-based LNG terminal at Gopalpur Orissa which can be further expanded to 10 mmtpa to ensure Petrochemical feed security and flexibility, focusing on high value product import substitution.

• Prefeasibility report for LNG storage and regassification facilities at Hazira for Shell India.

Evaluation of various last mile connectivity options of LNG in domestic and international consumer base remain focus of the evolving trend.

The LNG import facilities at Chara is Ready for Commissioning.

All these projects focus towards energy security and low carbon energy usage hence of major significance for the Organization and the Nation.

Pipelines

Your Company has established an outstanding track record in design, engineering and execution of crosscountry pipelines for transportation of crude oil, refined petroleum products, natural gas and LPG across diverse geographies and demanding terrains in domestic as well as international geographies. EIL scope of services encompasses the entire project life cycle ranging from DFR, EPCM services, PMC services, Integrity Studies etc. By virtue of EIL's skills in executing world class pipeline projects, EIL is the most sought-after technical consultant for major clientele. Considering Government of India's (GOI) thrust on National Gas Grids, EIL is best placed to exploit the opportunities in pipeline sector which are likely to unfold in the next few years.

Your Company had successfully completed the following pipeline assignment during the year: ^•

• PMC services for 12"/ 8" x 450 km Kochi - Salem LPG Pipeline for Kochi Salem Pipeline Pvt. Ltd.

By virtue of EIL's skills in executing world class pipeline projects, EIL is the most sought-after technical consultant for major clientele. Considering Government of India's (GOI) thrust on National Gas Grids, EIL is best placed to exploit the opportunities in pipeline sector which are likely to unfold in the next few years.

• PMC services for Installation of Gas Turbine Compressor (GTC) at GAIL, Gandhar, Gujarat.

Your Company is executing following major pipeline

projects and associated facilities assignments for various

clients which are in advance stages of execution:

• PMC services for Capacity Augmentation of Jamnagar - Loni LPG Pipeline for GAIL.

• PMC services for Storage Augmentation of Light Hydrocarbon (LHC) Products at GAIL, Vijaipur, Madhya Pradesh.

• PMC services for 30"/ 24"/ 18"/ 12" x 827 km Dobhi - Durgapur - Haldia Natural Gas pipeline of GAIL.

• PMC services for C2 - C3 product injection scheme in HVJ Pipeline at GAIL, Vijaipur, Madhya Pradesh.

• PMC services for Part-B for 18" x 680 km (Nagpur - Jharsuguda mainline and NTPC Korba Spurline of MNJPL Project (Mumbai - Nagpur - Jharsuguda Natural gas Pipeline) of GAIL.

• PMC services for 24" x 300 km Krishnagiri Coimbatore section of Kochi - Koottanad - Bangalore - Mangalore Gas Pipeline - II (KKBMPL) Project of GAIL.

• PMC services for 18" x 253 km Dhamra Haldia Pipeline Project of GAIL.

• PMC services for HRRL Onshore Pipeline Project, Rajasthan and Gujarat.

• PMC services for Sustained Evacuation of Natural Gas from ONGC Gandhar Fields into High Pressure HVJ - DVPL and DVPL Upgradation Natural Gas Pipeline network, Gujarat.

• PMC Services for Balance Jobs of Dabhol LNG Terminal, Maharashtra of Konkan LNG Pvt. Ltd.

• Enhancement of pumping capacity of Barauni - Bongaigaon - Guwahati Sector of Naharkatia - Barauni Crude Oil Pipeline for Oil India Ltd.

• Modification/Revamp of Vijaipur and Vaghodia (HBJ/DVPL) system for GAIL for rich gas/lean gas interconnection.

• EPCM Services for Krishnapatnam - Hyderabad Multi Product Pipeline (16" x 450 km), of BPCL (Part B & C).

• EPCM Services for Upgradation of Facilities of Numaligarh - Siliguri Product Pipeline (NSPL) for transportation of additional products.

• EPCM services for Pipeline(22 " X 43.5 Km, 10" X 46 Km and 8" X 46 Km) from Mumbai Refinery, Mahul to Rasayani complex, Raigad of BPCL.

• EPCM Services for Crude Oil Import Terminal (COIT) at Paradip, Paradip - Numaligarh Crude Oil Pipeline (PNCPL) with cumulative length of 1637 Km and NRL - Siliguri Marketing Terminal (SMT).

• DFR, Quantitative Risk Assessment (QRA)/ Rapid Risk Assessment (RRA) for Revamp of LPG Import Facility at Uran, Gujarat for BPCL.

The following Major Projects were secured by the Company

in the Pipeline Segment of hydrocarbon value chain during

the year and are in progress:

• Study for Hydrogen Blending in Natural Gas Pipeline/ CGD Network of GAIL, Uttar Pradesh. This project is significant in terms of EIL's entry into Green Hydrogen space.

• Feasibility Study for Jalandhar - Gurdaspur - Jammu - Srinagar Pipeline (JGSPL) Project of GAIL.

• 48" SPM Subsea Crude Line Support Rectification of HPCL, Andhra Pradesh. ^•

• Consultancy Services for various Critical/ Emergency Jobs encountered during Operation and Maintenance of Pipeline, Pipeline Installation and Gas Processing Unit of GAIL, Uttar Pradesh.

Petroleum Refining

Your Company has carved a niche as one of the leading Engineering Consultancy service providers to the Petroleum Refining Sector in India, having its footprints in 20 out of 23 operating refineries including 10 grass root refineries in the country. Your Company has also executed Major Projects like, Diesel Hydro-desulphurization Projects, Fuel Specification Upgradation Projects and Revamp/ Modernization Projects for most of the Oil and Gas majors.

The following Refinery Projects/Assignments were successfully completed during the year:

• Refinery Modernization Project of HPCL, Visakhapatnam (VRMP), Andhra Pradesh: After stabilization of CDU-IV of 9 MMTPA capacity, Secondary Process Unit of FCHCU and NIU, Auxiliary Units of HGU and SRU, Utilities/ Offsite units as CPP, ETP, Cooling Towers, Compressed Air/ Nitrogen along with all Offsite Storage completed and commissioned.

• Offsite work (OBE): Offsite works associated with CDU/VDU, FCHCU, HGU, SRU, NIU, and CPP / other utilities commissioned

• LOBS-II Project (CDWU & OHCU Revamp) of 270 TMTPA along with offsites of CPCL, Manali Refinery at Chennai, Tamil Nadu. Final DFR issued

• EPCM services for BS-VI project & associated facilities at MRPL Refinery, Mangalore, Karnataka to upgrade their products to BS- VI standards.

• Selection of BOO contractor for HGU of NREP Project of NRL, Numaligarh.

• Phase-I of PMC & FEED Services for DCU Revamp Project, Nayara Energy, Vadinar Refinery.

• Site Development Study for Setting up 20 MMTPA West Coast Refinery and Petrochemical Complex for RRPCL at Barsu-Solgaon, Rajapur Taluka, Ratnagiri District, Maharashtra.

• Piping Stress Analysis of FSS to TSS Line for HMEL Refinery, Bathinda.

• Detail Engineering for Installation of Automated Valve Blind in FCC Reactor Overhead Line, Provision of parallel catalyst loading/ unloading from regenerator to hopper in FCCU and Segregation of PRU from FCC Unit for HMEL Refinery, Bathinda.

• Supply of License, Basic Engineering Design Package (BEDP), Catalyst and Other Related Services for Sulphur Recovery Unit (SRU) with TGTU for NREP, Assam.

• Energy Optimization Study for M/s Bharat Petroleum Corporation Limited (BPCL)'s Mumbai Refinery.

• Conceptual Study for setting up of a Green Hydrogen Plant for M/s National Industrial Corridor Development Corporation Limited (NICDC).

• PMC services for 9.0 MMTPA Rajasthan Refinery Project of HRRL at Barmer, Pachpadra, Rajasthan.

• Project Management Consultancy Services for DeBottlenecking and Augmentation of Cryogenic facilities of BPCL LPG Import Terminal at Uran, Maharashtra.

• Consultancy service for LEPC Selection, DFR preparation and Basic design of OSBL for Green Hydrogen Plant for Bharat Oman Refinery, Bina, Madhya Pradesh.

• Hydrogen Blending in Natural Gas Pipeline / City Gas Distribution (CGD) Network for M/s GAIL India Limited (GAIL).

• Consultancy services for Bitumen Maximization Project at IOCL Gujarat Refinery.

• PMC services for New Biturox Plant along with Allied Facilities at IOCL Paradip Refinery.

• Engineering services to BHEL for 525 TPD standby Sulphur Recovery Unit (SRU) train at IOCL Paradip Refinery, Odisha.

• Lender's Independent Engineer for State Bank of India (SBI) for Project Review and Assessment for financing

Your Company has carved a niche as one of the leading Engineering Consultancy service providers to the Petroleum Refining Sector in India, having its footprints in 20 out of 23 operating refineries including 10 grass root refineries in the country.of HRRL's 9.0 MMTPA Refinery cum Petrochemical complex, Barmer, Rajasthan.

• Additional services (Change order) for Bitumen Blowing unit (BBU) of MRPL, BS-VI Project.

• EPCM services for Coker-B Revamp of Barauni Refinery Capacity Expansion (from 6.0 MMTPA to 9.0 MMTPA) Project of IOCL in Bihar.

• Phase - II, Consultancy for overall project management and EPCM/ PMC services for capacity expansion of IOCL Panipat Refinery, Haryana from 15 MMTPA to 25 MMTPA (P-25) project.

• LEPCM services for DCU-Revamp of Numaligarh Refinery Expansion Project (NREP), Assam.

• PMC/ EPCM consultancy services for 9 MMTPA Cauvery Basin Refinery (CBR) project, Nagapattinam, Tamil Nadu.

The following projects were secured during the year and work is in progress:

• Supply of License, Basic Design Engineering Package (BDEP), Catalyst, Proprietary Equipment and other related Services for LPG Treating Unit (LPGTU - 1 and 2) of NREP for NRL in Assam.

• Detail engineering services for ISO Butane unit for HMEL Refinery, Bathinda

• DFR, FEED and EIA/RRA for MREP Phase-II: LOBS & SDA expansion project at HPCL Mumbai Refinery: Final FEED for SDA and Final BDEP for ARU and SWS issued. Draft FEED for IHCD is under progress.

• Feasibility Study for Crude Distillation Unit (CDU)- 2 Revamp for M/s Nayara Energy Limited at Vadinar, Gujarat.

• Basic Engineering and Detail Engineering (Phase-I) of Crude Distillation Unit (CDU)-1 Revamp for M/s Nayara Energy Limited at Vadinar, Gujarat.

• Basic Engineering and Detail Engineering (Phase-I) of Crude Distillation Unit (CDU)-2 Revamp for M/s Nayara Energy Limited at Vadinar, Gujarat.

• Detailed Feasibility report (DFR) for LNG transport from Kochi to Sri Lanka through ISO-Container

• PMC and Detail Engineering job of DCU heater Run Length Improvement job of IOCL, Digboi Refinery, Assam.

• Phase - I, Project Management Consultancy (PMC) Services for Retrofit of Steam Driven DHDS Recycle Gas Compressor (DDC - 2), VGO HDS Recycle Gas Compressor (VHC-1) and CCR Net Gas Compressor (CRC - 2) with Electric Motors at BPCL Kochi Refinery, Kerala.

• Design, Detail Engineering, Procurement and PMC Services to Revamp Existing Integrated Refinery Expansion Project (IREP) DHDT Charge Heater IG-H- 101 for efficiency improvement of BPCL, Kerala.

• Consultancy Services for Energy Optimization Studies for Bharat Petroleum Corporation Limited (BPCL)'s Kochi & Bina Refineries.

• Project Management Consultancy (PMC) Services for the Sustainable Aviation Fuel (SAF) Project at Panipat Refinery & Petrochemical Complex (PRPC), Indian Oil Corporation Limited

• Phase-II of DCU Revamp Project, Nayara Energy, Vadinar Refinery.

• EPCM services for New Biturox plant (300 KTPA) and allied facilities Phase-II, Barauni Refinery, IOCL

• EPCM services for New Biturox plant (300 KTPA) and allied facilities Phase-II, Barauni Refinery, IOCL

• LEPCM services for Aqueous Ammonia Project of Numaligarh Refinery, NRL, Assam

• Technical & Consultancy Services for BR-9 Expansion Project of IOCL, Barauni Refinery.

• EPCM Services for Site Enabling for Bina Petrochemical and Refinery Expansion Project (BPREP) at Bina, Madhya Pradesh

• Bitumen Maximization Project of 300 KTPA along with offsites of IOCL Refinery at Barauni, Bihar.

Petrochemicals

Your Company has been involved in the establishment of several Mega Petrochemical Complexes in India. The Company has provided Engineering Consultancy services for various processes including Gas based/ Naphtha based Cracker Complexes and Aromatic plants comprising

Guru Gobind Singh Refinery (GGSR) Polymer Addition Project (PAP) of HMEL at Bhatinda, Punjab has been Commissioned during the year.

Naphtha Splitters, Pre-treaters/ Reformers, Benzene -

Toluene Extraction units, Pyrolysis Gasoline Hydrogenation

Units, Xylene Fractionation and Isomerization units including

overall integration and optimization of such complexes.

The following Petrochemical Assignments were successfully

completed during the year:

• Techno Economical valuation (TEV) study for HMEL's 1.2 MMTPA Petrochemical Project at Bhatinda for State Bank of India (SBI).

• Due Diligence report ofPTA plant ofJBF Petrochemicals, Mangaluru for HMEL. Engagement as Consultant for Technical Due Diligence of old PTA Plant of JBF Petrochemicals, Mangalore for GAIL/ SBI Capital

• Master Plan finalization and Pre-feasibility report (PFR) for Setting up of 500 KTPA PDH/ PP/ Propylene based Derivatives Petrochemical Complex at Dahej of Petronet LNG Ltd., Gujarat.

• Detailed Feasibility Report (DFR) including Licensor Selection for Polypropylene (PP) and Propane Dehydrogenation (PDH) Units for M/s Petronet LNG Limited (PLL) at Dahej, Gujarat.

• EPCM/PMC services for Guru Gobind Singh Refinery (GGSR) Polymer Addition Project (PAP) of HMEL at Bhatinda, Punjab - Overall Complex has been Commissioned.

• Lender's Independent Engineer (LIE) for SBI for Guru Gobind Singh Polymer Addition Project (GGSPAP) of HMEL at Bhatinda, Punjab.

• Licensor Selection, Engineering and Construction Management (LEPCM) services for 500 TPD Methanol Project and Associated Facilities for Assam Petrochemicals Limited, Namrup, Assam.

• Consultancy Service for debottlenecking studies of gas compression, GDU, Rich and lean pipeline and GSU/ C2+ recovery unit at BCPL.

Significant progress has been made on the following

Petrochemical Projects, some of which are under final stage

of completion:

• Services for Hydrogenated Pyrolysis Gasoline (HPG)-2, Butene-1 and Pressure Swing Adsorption (PSA) units in BCPL, Lepetkata, Assam.

• Licensor Selection, Preparation of DFR and Review of Licensor's BEDP for Poly-Propylene Unit (PPU) of NREP, Assam.

• Techno-Economic Feasibility report for Polycarbonate (PC) Plant along with Bis-Phenol A (BPA) for Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (GNFC) at Bharuch, Gujarat.

• PMC services for setting up 4.3 TPD Electrolyser at GAIL, Vijaipur.

• PMC services for Styrene Project, IOCL Panipat Refinery.

• PMC Services for De-Aromatized Solvents (DAS) unit at BPCL Mumbai Refinery, Maharashtra.

• Consultancy service for Licensor selection and preparation of Detailed Feasibility Report for 1200 KTPA Petrochemical Plant at Bharat Oman Refinery for BORL, Bina, Madhya Pradesh.

• EPCM services for 500 KTPA Propane Dehydrogenation (PDH)/ Polypropylene (PP) Unit at GAIL, Usar in Maharashtra.

• EPCM services for 60 KTPA Polypropylene plant at Pata Petrochemical Complex, Uttar Pradesh of GAIL.

• Detailed Study Report for Debottlenecking GSU C2+ Unit at BCPL Lakwa, Assam.

• Services for Hydrogenated Pyrolysis Gasoline (HPG)-2, Butene-1 and Pressure Swing Adsorption (PSA) units in BCPL, Lepetkata, Assam.

• Ethane Cracker DFR at Aurangabad for GAIL

The following Projects were secured by the Company in

Petrochemical Sector during the year and are in progress: ^•

• Feasibility study including economic analysis of Propylene to ACN & Acrylates project of IOCL and partners, Paradip.

• DFR including Licensor Selection for setting up a Polypropylene (PP) Unit at Bharat Petroleum Corporation Limited (BPCL)'s Kochi Refinery.

• DFR for the setting up of a Greenfield Petrochemical Complex based on Imported Ethane for M/s GAIL India Limited (GAIL).

• Detailed Study Report for Debottlenecking GSU C2+ Unit at BCPL Lakwa, Assam.

• Licensor selection/Detail Feasibility Report (DFR) for setting up of Toluene and Xylene extraction unit at Guru Gobind Singh Refinery (GGSR) Polymer Addition Project of HMEL at Bhatinda, Punjab

• PMC Services for De-Aromatized Solvents (DAS) unit at BPCL Mumbai Refinery, Maharashtra.

• Project Management Consultant (PMC) and Engineering Procurement & Construction Management (EPCM) Services for the setting up of a Glacial Acrylic Acid Unit at Bharat Petroleum Corporation Limited (BPCL)'s Kochi Refinery.

• EPCM Consultancy Services for Petchem

Barmer Marketing Terminal of HPCL at Barmer, Pachpadra, Rajasthan.

• Preparation of Feasibility Report for Petchem Project, MRPL.

• Hiring Of Consultancy Service for Detail Feasibility (DFR) Study for Capacity Expansion of BCPL.

• Consultancy services for PDH-PP Plant with Ethane Propane import facility at Dahej Petchem Complex.

• DFR for Ethane Cracker project in Madhya Pradesh, GAIL

• Feasibility study of chemical cluster at IOCL Panipat

In addition, conceptualization and preparation of various feasibility and detailed feasibility studies have commenced and in advanced stage. Few of the important achievements are

• Feasibility Study Report for MIDC for independent Dual Feed cracker Unit and associated downstream petrochemical units.

• Feasibility Study Report for M/s AVPL for a mega Crude Oil to Chemical complex in the eastern coast of India.

• Technical Due Diligence study of Crude to Chemical project for ONGC.

• GGSPAP Cracker Complex Capacity expansion Strategic Storages

The Strategic Crude Oil Storage Program is the flagship Energy Security initiative of the Govt. of India which aims at creating a buffer stock of crude oil in underground caverns to meet requirements in case of any disruption of supplies from abroad.

During the year, the Company achieved significant progress in PMC services for storage of 80,000 MT of LPG in underground rock caverns at Mangalore, Karnataka for HPCL.

Metallurgy

Your Company is a leading Engineering Consultancy Service Provider for non-ferrous metallurgy having executed a large number of greenfield Smelter and Alumina Refineries in India.

During the year, following key Metallurgy Assignments were completed:

• Consultancy services for procurement and installation of Reclaimer and Associated Facilities in NALCO's Alumina Refinery at Damanjodi, Odisha.

• Preparation of DPR and Selection of Technology for Bauxite Conveying System from Pottangi Mines to Alumina Refinery, Damanjodi, Odisha of NALCO.

• Assessment of Land and Water requirement for Expansion of 5 MTPA existing Integrated Steel Plant of Bhushan Power and Steel Limited (BPSL) to 15 MTPA at Sambalpur, Odisha for IPICOL.

• Additional land assessment for Proposed 24 MTPA Integrated Steel Plant including Ancillary, Downstream and Social Infrastructure facilities of M/s. AMNSI at Kendrapara District, Odisha. ^•

• Updation of DPR for proposed Brownfield Expansion of Smelter by addition of 5^th Potline and upgradation of existing Potlines at Angul, Odisha for Nalco.

• DFR for Kodingamali Bauxite Mines of Odisha Mining Corporation Ltd., Odisha.

During the year, the Company achieved significant progress in following projects:

• Consultancy services for Retrofitting of HRD (High- Rate Decanter) and DCW (Deep Cone Washer) in Stream - 1, Stream - 2 and Stream - 3 of NALCO at Damanjodi, Odisha.

• Consultancy services for 2^nd Raw Water Intake Pump House and Pipeline at Damanjodi, Odisha of NALCO.

• Consultancy services and construction management for addition of 11^th Rectifier Group (Swing Group) between Potlines 3 and 4 of Aluminium Smelter at NALCO, Angul, Odisha.

• Owner's Engineer Services for MDO and Evacuation facilities at Kurmitar Iron Ore Mines for Odisha Mining Corporation Ltd., Odisha.

• Consultancy services for Capacity Enhancement of Tailing Dam of Malanjkhand Copper Project of HCL, Madhya Pradesh.

• Basic & Detailed Engineering of balance of plant for direct reduce Iron plant at Angul, Odisha.

• Consultancy service for 6MMTPA project at Daitari Iron Ore mines for Institution in MDO mode.

• Updation of DPR for 4.2 MTPA production Costing for MDO mode of execution, Tender activities for MDO selection, Owner Engineer's services of Kodingamali Bauxite Deposit in Koraput District of Odisha.

The following assignments were secured by the Company during the year and work is in progress:

• Updation of Detailed Project Report (DPR) for Pottangi bauxite mines, NALCO, Odissa

• Assessment of Land and Water requirement for the proposed 4.0 MMTPA Alumina Refinery and 175 MW CPP of M/S Kalinga Alumina Limited in Rayagada District of Odisha for IPICOL.

Infrastructure

Your Company has developed a strong track record in Infrastructure sector by providing a wide spectrum of services such as Project Management (including on Depository Basis), Third Party Inspection (TPI), Quality Assurance, Independent Engineer and Lender's Engineer services, Project Appraisal and Project Execution Services in some of the important Projects of Key Clientele in the Sector.

During the year, following major projects were completed:

• Supervision and PMC services for High-Speed Rail Terminal Project at Sabarmati of National High Speed Rail Corporation Limited (NHSRCL), Gujarat.

• PMC Services for Residential Complex of Unique Identification Authority of India (UIDAI) in Delhi.

• PMC services for Development of infrastructure facilities at Khajekhalan Ghat at Patna, Bihar.

• OBE services for India Energy Week (IEW) 2024 Infrastructure related works at IPSHEM, Goa for ONGC.

Upholding our commitments to customers, your Company continued to achieve substantial progress in following infrastructure projects:

• Third Party Inspection services for completing Unitech's incomplete Projects across India.

• Third Party Assessment for Engineering Review and Project Management for Fintech Digital Institute, Jodhpur, Rajasthan.

• Third Party Inspection Services for Indo-China Border Road (ICBR-1) for Border Management-Ministry of Home Affairs (MHA).

• Extension of TPI services for Infrastructure Projects of Pune Municipal Corporation, Maharashtra.

• Repair and Redevelopment of Various Public amenities at NAMO Ghat at Varanasi, Uttar Pradesh.

• Principal Consultant Firm (PCF) for Setting up of Reserve Bank of India's (RBI) Greenfield Data Center and Training Institute at Bhubaneswar in Odisha. ^•

• PMC services for Rajiv Gandhi Knowledge Service & Innovation Hub at Jodhpur, Rajasthan for RajCOMP Info Services Ltd.

• PMC services for Construction of Petronet LNG Ltd.'s office Building at Dwarka Sector - 14, Delhi.

• OBE services for "Upgrading of IPSHEM (Institute of Petroleum Safety, Health and Environment Management) to World-Class Facility" of ONGC in Goa.

The Company's footprints in Infrastructure Sector received an impetus with securing of the following assignments during the year:

• PMC Services for Development India International Horticulture Market at Ganaur, Haryana of Haryana International Horticultural Marketing Corporation Limited.

• Construction of Multi-storied Building for Integrated Office-cum-Data Centre Complex in Delhi for Intelligence Bureau.

• PMC services for Rajiv Gandhi Center for IT Development and E-governance, Jaipur, Rajasthan.

• Comprehensive Design Engg & PMC services for Development and Upgradation of Infrastructure at NSEZ Noida.

EIL is providing Independent Engineers' Services for Noida

International Airport, Jewar, Uttar Pradesh for Noida International

Airport Limited (NIAL).

Airport

Your Company has established a robust presence in the Airport sector, offering wide range of project management services such as DPR preparation & Independent Engineering services and PMC services for some of the important Projects of key Clientele in the Airport Sector.

During the year, following major projects were completed:

• Preparation of DPR for Development of Greenfield International Airport at Chinen in Gr. Nicobar.

• Independent Assessment of costs for Bangalore International Airport Limited, Bangalore.

• Independent Engineering Services for Development and Expansion of IGI Airport at Delhi for AAI.

Upholding our commitments to customers, your Company continued to achieve substantial progress in following infrastructure projects:

• PMC Services for Construction of Domestic Terminal of Leh Airport.

• Independent Engineers' Services for Bhogapuram International Airport.

The Company has secured the following major assignments during the year in the Airport Sector of Infrastructure and substantial progress achieved in the Project:

• Independent Engineers' Services for Noida International Airport, Jewar, Uttar Pradesh for Noida International Airport Limited (NIAL).

Water and Waste Management

Your Company has the expertise to provide the entire range of services related to water & waste management. EIL's services focus on integrated water & wastewater management covering the gamut of water intake works and treatment systems, desalination plants, industrial water treatment plants, effluent treatment plants, effluent recycle & zero liquid discharge systems, sewage treatment & reuse plants, etc. The Company also has the expertise to provide services in the fields of solid & hazardous waste management, municipal solid waste management, waste to energy plants, etc.

Fertilizers

Your Company is a undertaking Techno - Commercial Viability and Preparation of DPR for Technical and Food Grade Phosphoric Acid Project at Sikka Unit, Jamnagar, Gujarat.

During the year, following major projects were completed:

• Detailed Feasibility Study for 4000 TPD Green Ammonia Plant & Associated facilities of HMEL.

The following assignments were secured by the Company during the year and work is in progress:

• Green Field Fertilizer Project in Nigeria (Train II)

• Detailed Project Report for 40000 MTPA Melamine-IV project of GSFC.

• CDetailed Feasibility Study report for 4000 TPD Green Ammonia Plant & Associated facilities of HMEL.

• Preparation of Pre-feasibility report for a 150 TPD Green Urea Project for NTPC is in progress

• Completed Detailed Feasibility Report for shifting of Fertilizer plant (1880 TPD Ammonia & 3150 TPDs Urea) from Kuwait to Oman

Coal

During the year, following major coal-based Projects were successfully completed:

• Consultancy services for finalization of Build Own and Operate (BOO) package and preparing Detailed Feasibility Report (DFR)/ Detailed Project Report (DPR) for the proposed Coal to Ammonium Nitrate Project for Western Coalfields Limited (WCL) at Juna, Maharashtra.

• Pre-Feasibility Study to establish a plant to Gasify 1000 TPD Margherita Coal to produce Synthetic Natural Gas in Margherita Assam for M/s Numaligarh Refinery Limited.

• Detailed Project Study to establish a pilot plant to produce 40 TPD capacity FT Diesel through gasification of lignite for NLC India Ltd at Neyveli, Tamil Nadu.

Following projects are in progress and at various stages of execution

• PMC Services for Pre-award activities such as preparation of tender Documents, Tendering, Selection of suitable firm on Lumpsum Turnkey (LSTK) / LEPC / EPC Basis), Lignite to Methanol via Gasification Project (1200 MTPD of Methanol), NLCIL at Neyveli, Tamil Nadu.

• Techno-economic feasibility study to establish a plant to produce 400 TPD capacity Ammonium Nitrate Melt through gasification of coal in command areas of Singareni Collieries Company Ltd.

Alternative Fuel

Your Company is providing EPCM services for Assam Bio Refinery Project of M/s Assam Bio Refinery Pvt. Ltd, the first of its kind plant in India. Construction activities related to Civil/ Structural works are under advanced stage of completion. Tankages erection, Mechanical/Piping work, Electrical & Instrumentation work are in progress in full swing. Ethanol blended Motor Spirit system (EBMS) commissioned.

During the year, following major Projects were successfully completed: ^•

• Prefeasibility Report for 100 klpd Bamboo based 2G Ethanol Plant at Meghalaya for Numaligarh Refinery Limited has been completed.

• Detailed feasibility Report for 200 klpd Bamboo based 2G Ethanol Plant at Bongaigaon Assam for NTPC Limited has been completed.

The following assignments were secured by the Company during the year and are in various stages of execution:

• PMC Services for setting up of 13.7 MWp Roof Top Solar Project for HMEL Green Energy Pvt Ltd.

• I ndependent Engineers' Services for the Production linked Incentives (PLI) scheme for Advanced Chemistry Cell (ACC) for Ministry of Heavy Industries, Govt. of India.

Carbon Capture & Sustainability :

• Feasibility Study has been carried out for Carbon Capture from Gas produced from OIL's Gas field at Rajasthan. This gas will be used for sequestration by OIL.

• Design, Engineering & Costing Study completed for OIL'S Pilot Carbonated Water Injection, CO2 Capture & Compression Plant and Liquid CO2 Transportation. This is an important step towards future development of Decarbonization goals

• Sustainability focused studies e.g., Flare Gas recovery for Ourhoud Organisation Algeria and Steam network study for IOCL BGR has been completed.

• EIL is also providing service for design of Flare Gas Recovery in HMEL GGSPAP complex .

Captive Power Plant

The following assignment was secured by the Company during the year and is under execution:

• Engineering & Project Management Consultancy Service for creation of CPP at ONGC Geleki. Assam asset.

9. Overseas Consultancy Assignments

Your Company has leveraged its strong track record in the Indian Hydrocarbon sector to successfully expand its international operations. Over the years, the Company has emerged as a global player with the execution of a number of prestigious assignments for International Energy majors in Middle East, South America, Africa and South East Asia.

During the year, following Overseas Assignments were successfully completed:

• FEED Study for LNG Tanks, Jetty Topside and Plant Process System for LNG liquefaction and Export Terminal at Akwa Ibom state, Nigeria for M/S Padah LNG FZE (PLF).

• Cooling Water Network Hydraulic Analysis and Thermal Design of Heat Exchangers for Dangote Fertilizer Limited, Nigeria

• Engineering Services for Site Survey and Stress Analysis regarding Supports, Bellows and PDS Valves for Petrochemical Industries Company, Kuwait.

• Detailed Engineering for Power requirement for WHPTS PC-55 AND PC-110 and M1637: Deck Pipe Supports (E & F), ADNOC Offshore, UAE.

• Zirku and Das Islands: Feasibility Studyfor Underground Oil Storage Tanks, ADNOC Offshore, UAE.

• CED FWA T.3: Engineering Work requests (EWRs) & Plant Modification Requests (PMRs) for US NASR and UZ, ADNOC Offshore, UAE.

• CED FWA T.1: Brown Field Engineering Work requests (EWRs) & Plant Modification Requests (PMRs) for ZIRKU and SARB, ADNOC Offshore, UAE.

• Design Integrity and adequacy study of CFP, BBP and CDP Offshore Platforms, ADOC UAE.

• Assessment Study for PV System Installation at Offshore Facility (Verification Study), ADOC UAE

• Study of Tank Bund Walls in Mubarraz Island & AR Site Terminal, ADOC UAE

• Design Integrity and adequacy of CFP, BBP & CDP platforms at Mubarraz Field for ADOC JAPAN.

• Safeguarding Memorandum for all Habshan 5 Plant areas and Revalidation HAZOP for Area 3, ADNOC Gas, UAE.

• Provision of PMC Services on Call - off basis for ADNOC Offshore, UAE.

• EPCM services for 10" x 131 km, HSD India-Bangladesh Friendship Pipeline Project (IBFPL) from Siliguri, India to Parbatipur, Bangladesh.

Various FEED Engineering, PMC, Technical Support services

are being provided to ADNOC, UAE under the following

service agreements: ^•

• Technical Support Services Agreement (TSSA) of ADNOC Gas Processing and ADNOC IG, UAE.

• PMC Services on Call Off Basis for Construction of Industrial Projects Facilities and other Civil Projects, ADNOC Distribution, UAE.

• Process Engineering Services for Hydro Cracker Revamp Projects, ADNOC Refining, UAE.

• General Engineering Services of ADNOC Onshore, UAE.

• Concept, Pre-Feed and Feed Framework agreement -Phase II of ADNOC

Following overseas assignments are in progress and at various stages of execution:

• EPCM services for the prestigious Dangote Refinery and Petrochemical Project, Nigeria comprising a 650,000 BPSD grass root Petroleum Refinery and 830 KTPA Petrochemical Complex at Lekki Free Trade Zone, Nigeria for Dangote Oil Refining Company (DORC). This is the largest single train refinery in the world. The Project facilities include crude oil receipt and storage including SPMs with associated offshore/ onshore pipelines. The project has achieved significant milestone with the commissioning of primary unit (AVU) and taking out products like (Diesel, LPG, RCO, ATF etc.). Other units are under advanced stage of completion and commissioning.

• PMC services for 1.5 MMTPA grass root refinery in Mongolia which is being set up under Line of Credit extended by Govt. of India to Govt of Mongolia. The Mongol refinery project is being implemented through Four nos. of EPC packages. EPC 1 work (Early Project activities) is in advanced stage of completion. Engineering, Procurement and Construction work for EPC 2 (Open Art Units, Utilities & offsites) and EPC 3 (Captive Power Plant) are in progress. EPC 4 (Licensed Units) is yet to be awarded.

• Consultancy Service for the Supervision of the Guyana Integrated NGL Plant and 300MW CCGT Power Plant for Guyana Power & Gas Inc. (A wholly owned Company of Government of Guyana (GoG)), under Ministry of Natural Resources (MNR). Substantial amount of Engineering and Procurement has been completed. Soil Remediation work is nearing completion and piling works are expected to commence soon.

The Mongol refinery project is being implemented through Four nos. of EPC packages. EPC 1 work (Early

Project activities) is in advanced stage of completion. Engineering, Procurement and Construction work for EPC 2 (Open Art Units, Utilities & offsites) and EPC 3 (Captive Power Plant) are in progress.

• Design and Detailed engineering services for setting up cryogenic tanks of Ethane and Propane for Aja Energy FZE, Nigeria.

The following assignments were secured by the Company during the year and are in various stages of execution:

• CED FWA T.2 : Brown Field EWRS-PMRS for

LZ and DAS Concept Design, Pre-FEED & FEED Services-Phase 2.

• FEED of SARB Produced Water Treatment Project at Zirku Island - E-2041 (11549), ADNOC Offshore, UAE.

• Engineering Services for MOL Welding Workshop, FEED for Upgradation of Crude Storage Tanks Foam System and FEED for Replacement of the Obsolete F&G Detection System at JD, ADNOC Onshore, UAE.

• Revalidation Of Pre-FEED Process Waste Steam for Power Generation through BPST in Ruwais Train -4, ADNOC Gas, UAE.

• CED FWA T10 - ABK Facilities Engineering Framework Package-2, ADNOC Offshore, UAE.

• FEED Services for HALON Systems Replacement PHASE-2 AT LZK and USSC, ADNOC Offshore, UAE

• FEED Services for RMU Substation - E1846, ADNOC Offshore, UAE.

• Engineering Services for Reduction of Flare Gas from the Ourhoud Field, Sonatrach -Ourhoud Organisation, Algeria.

• Design package preparation for desalter installation in 4A CDU & 5 CDU of Bahrain Refinery.

• Consultancy Services for FEED and ITB preparation for revamp of existing AGRP-1Unit in MAA Refinery for KNPC, Kuwait.

• CED FWA T.16 : Lower Zakum Facilities Hazop/ Engineering Packages and C5934 - Study requirements to put DIYAB Appraisal well ZK420 (WHT ZK-374) on Production, ADNOC Offshore, UAE.

• Design and PMC services for Setting up New NG/ Off Gas fired Boiler 250TPH capacity and BoP for Dangote Fertilizer, Nigeria.

• FEED and PMC Services For NHT-CCR Reforming Unit at Arzew Refinery, Sonatrach, Algeria.

10. Turnkey Projects

Your Company's turnkey project portfolio consists of projects executed on LSTK mode or on the 'Open Book Estimate (OBE)' basis.

The following assignments were secured by the Company during the year and are in various stages of execution:

• Revamping of Sectionalizing Valves Stations of 36" & 42" TPLS and Additional Requirements for GT & Kribhco (Part-B) at ONGC Hazira

The following OBE/ LSTK job was successfully completed during the year:

• Revamp of Slug Catcher IIA (5 Fingers) at Uran Plant of ONGC in Maharashtra

The following OBE/ LSTK jobs achieved considerable progress during the year:

• Replacement of 3 nos CSU Off Gas Compressors, 06 nos Regeneration Gas Compressors & Installation of 01 CBD Vessel at Uran, ONGC

• Restoration of Gas Terminal Phase-1, Part-A at ONGC Hazira Plant, Gujarat, India

• Vizag Refinery Modernization Project Offsite in Vizag, Andhra Pradesh.

• Revamp of Slug Catcher IIA New (12 Fingers) at Uran Plant of ONGC in Maharashtra.

• Revamp of Slug Catcher at Uran Plant of ONGC in Maharashtra.

• Execution of Residual Utilities and Offsites for Rajasthan Refinery Project, HRRL, Rajasthan on OBE basis. Construction of Offsite Pipe racks and buildings nearing completion. Mechanical/ Piping, Electrical & Instrumentation works are under progress in full swing.

11. Specialty Chemicals & Energy Study

The following assignments were secured by the Company during the year and are in various stages of execution:

• Detailed Feasibility Report (DFR) for Setting up of an Iso Propyl Alcohol (IPA) Unit, Methyl Iso Butyl Ketone (MIBK) Unit and Methyl Ethyl Ketone (MEK) Unit for M/s GAIL India Limited (GAIL).

• Engineering, Procurement and Construction Management (EPCM) Services for the setting up of a 50 KTPA Iso-Propyl Alcohol Unit for M/s GAIL India Limited (GAIL) at Usar, Maharashtra.

• PMC Services for ambient air heating system at KLL, Dabhol.

The following jobs achieved considerable progress during the year:

• MIBC, MIBK and O & U Projects at DCTL Dahej, Gujarat, India.

• Detail Engineering Consultancy (DEC) Services for New Turbine Generator Set related System, New FBC Boiler and Interconnecting Piping at DCTL / DNL Nandesari Site, Vadodara, Gujarat, India.

• TEFR for Poly carbonate (PC) along with Bisphenol-A (BPA) project for GNFC

• OBE for TNT plant at HFF Khadki, Pune.

• DFR for 5 MMSCMD NG valorisation from Bhasker-II field, i. e. stripping NG of N2 content and Ammonia + Methanol plant.

With focus towards mission of Import substitution and Atmanirvarta, no of speciality chemicals and other products have been in focus. The Feasibility or Detailed Feasibility studies which are either completed or advanced stage of completion are

• Feasibility study for Specialty Chemicals for GGSPAP complex

• Feasibility study for various speciality chemicals for GNFC

• Specialty chemical complex for GSFC new complex

• In addition Design and FEED engineering activities for Ethyl Benzene and Styrene Monomer (EB/ SM) is in progress

Energy study

EIL is also actively pursuing Energy optimization studies for various complexes and proposing measures for enhanced energy efficiency which will thereby lead to reduced carbon footprint of the complex. Following projects were secured by the Company in this segment in the last FY.

• Energy study for Nayara Train II Refinery

• Energy optimization study for BPCL Bina Refinery.

• PFD for electrification of NG driven equipment at various processing unit of GAIL

• Energy optimization study for BPCL Kochi Refinery.

12. HSE Management System

Your company's ISO 45001 (Occupational Health and Safety Assessment Series) and ISO 14001 (Environmental Management system) certifications were successfully

EIL is also actively pursuing Energy optimization studies for various complexes and proposing measures for enhanced energy efficiency which will thereby lead to reduced carbon footprint of the complex.

recertified by accredited certification body during this year. Apart from ensuring effectiveness of the HSE Management system, these certifications provide an edge in securing business, especially overseas.

HSE matters are discussed in the Management Review Committee (MRC) meeting and resolved. C&MD, Functional Directors are members of the MRC and all Executive Directors and Senior officials participate in the meeting. Internal HSE Audits are conducted across Division/ Departments by qualified independent auditors to verify compliance to the defined procedures. This year, your company has released a Mobile Application for Incident Reporting purpose. Employees can report all types of incidents seamlessly through the Application.

On the occupational health front, your company conducted various health talks under the umbrella of HALE (Health Assessment and Lifestyle enrichment). Also, numerous vaccination camps and health camps were conducted under this umbrella to address specific and generic health conditions. On the occasion of International Yoga Day 2023, EIL organized an Asanas Contest for its employees all around the globe. To enhance the fitness of the women employees, your company conducted specific interventions in the form of Zumba classes and Walkathons.

On the engineering front, HSE aspects that are to be addressed in the design engineering phases are built into the procedures/specifications of various engineering departments. Exhaustive HSE checklists are in place to ensure that these aspects are complied positively during process design and engineering phases.

Being a renowned engineering consultant in the hydrocarbon sector, your company deploys proven risk assessment methodologies like HAZOP (Hazard and Operability Study), RRA (Rapid Risk Assessment), QRA (Quantitative risk assessment) and SIL (Safety Integrity Level) to ensure the process safety of the plants being designed.

On the Environment preservation front, EIL executed a Green Campaign on its social media handles for creating environmental awareness. The campaign covered topics like how to beat plastic pollution, the importance of waste segregation, the 3Rs of waste disposal i.e. reduce, reuse and recycle and the benefits of tree plantation. EIL called upon its stakeholders and the local community to participate in the Nature Warriors Contest where everyone was encouraged to plant multiple tree saplings in public parks, demarcated forest lands or in their respective colonies. EIL also conducted in house competitions as a prelude to World Environment Day such as Poster making, Poem and Photography competitions. Also, various in-house processes have been digitized with the objective of reducing paper consumption (carbon footprint).

On the construction front, the specification for HSE Management at construction sites, which specifies the HSE requirements to be complied by construction contractors, has been revised during this year in line with the current trends and to improve the HSE performance. Award to construction sites based on HSE performance, Issue of appreciation certificates in best performing construction contractors are being continued. Your company celebrated National Safety week across its offices and sites and the celebrations were used as a platform for improving safety awareness amongst the employees. HSE award mechanism for Individuals, which was introduced in year 2022 is being sustained with high participation levels across our construction sites. The objective of these reward mechanism is to foster and promote the culture of Safety. Also, a Mobile application has been released for reporting of safety observations at construction sites.

To enhance your company's HSE competence, employees have attended various trainings in HSE domain, namely, ISO 45001 auditor certification, ISO 14001 auditor certification and other special trainings specific to HSE.

A quarterly HSE Newsletter is being issued to all employees to communicate the happenings on the HSE front.

13. Quality Management System

Quality Management System Quality is inbuilt into the processes, workplace, deliverables and services of your Company. Quality Management System of the Company is being reassessed through External Audits across the company for continual conformance to ISO 9001:2015, by third party certification agency. During the year, your Company was audited and reassessed during surveillance audit and declared conforming to International ISO 9001: 2015 standard. The current Certificate is valid up to 13.10.2024. For operational excellence, Quality Circle/Six Sigma Projects are executed in various departments to promote the culture of decision making at working level. Our quality circle teams won accolades in prestigious domestic competitions. During the year, Lean Management (LM) principle implementation in various processes of EIL to remove waste to improve process efficiency was completed and outcome of the Lean Management recommendations are being implemented in System and Processes of the company. System Committee spearheaded the Quality Movement in EIL and improve "operational excellence". Important ingredients of our quality initiatives are effective & comprehensive Internal Quality Audit process, planned customer perception surveys, analysis of feedbacks from stakeholders and regular reviews & directions from the Management Review Committee (MRC). The MRC is chaired by the C&MD with all functional Directors being members. Regular monitoring is being done to analyse the data & feedback for recommending improvements in processes, deliverables and QMS to reduce costs, shorten cycle time, address cross functional issues, improve visibility and credibility. QMS implementation and its effectiveness have been further increased by using in-house developed software. The Quality Management System of EIL's Abu Dhabi office was also separately audited and reassessed during financial year and declared conforming to ISO 9001: 2015 standard. Quality Management System provides a competitive edge in securing and executing projects with focus on full customer satisfaction. A digital newsletter "Eminence" is being issued to all employees, to promote awareness and to improve the Quality Management culture. In addition, the Company participated as a prominent and active member in various committees for formulating quality system standards under the aegis of Bureau of Indian Standards.

14. Risk Management system

The objective of the Corporate Risk Management function is to ensure sustainability of the organization by professionally managing the Enterprise Risks. Enterprise Risk Management (ERM) involves identification, assessment, analysis, mitigation and monitoring of the Risks. The ERM system of your Company performs the above-mentioned Risk Management activities across the business functions of the organization. EIL's Risk Management framework is based on ISO 31000 (Risk Management Principles and Guidelines) and meets regulatory requirements namely SEBI LODR, Companies Act and Department of Public Enterprise

(DPE) Guidelines. Risk Management process has also been integrated with the Quality and HSE Management System requirements as per ISO 9001:2015 & ISO 45001:2018 standards. The Risk Management framework of your Company is overseen by the Risk Management Committee of the Board. Key risks across various business processes namely Procurement, Construction, Project Management, Business Development, Cyber Security, ESG (Environmental, Social & Governance), Human Resources, Legal, Accounts & Recovery have been identified.

Changes in the Key Risks have been approved by the Risk Management Committee of the Board. Mitigation plans are in place for these risks and deployed across the organization. An independent group (Corporate Risk Assurance) audits the compliance verification of these mitigation action plans regularly and the results are presented to the Risk Management Committee of the Board. Your Company uses its in-house developed software package 'Enterprise Risk Management System (ERMS)' to conduct these audits across multiple locations and departments. Being a Project Management organization, Project Risk Management framework has been put in place so that project specific risks are identified, assessed and mitigated. Regular Risk Management meetings are conducted and reports are issued to the stakeholders.

The status of Enterprise Risk Management (ERM) & Project Risk Management (PRM) System is presented to the Risk Management Committee of the Board regularly. A digital newsletter 'Risk Screen' is being issued to all employees, to promote awareness and to sustain & improve the Risk Management culture. The newsletter covers case studies, survey reports and best practices on Risk Management apart from apprising the employees on the Risk Management updates within the company. Employees across all levels are being continuously trained on Risk Management to improve awareness levels and increase their contribution and improvement towards the Risk Management function.

EIL is continuously improving its risk management capabilities in order to protect and enhance the interests of its stakeholders.

15. Vigilance

The objective of the vigilance function is to ensure the highest level of integrity & transparency in the company. EIL has a separate Vigilance Department, headed by the Chief Vigilance Officer. The department acts as a link between EIL and the Chief Vigilance Commissioner and advises the company on all matters relating to fair and transparent business operations. The Vigilance Department takes preventive, punitive and participative measures with emphasis on the preventive and participative aspects, and also assists in establishment of effective internal systems and procedures thereby maximising transparency and accountability. The Vigilance Administration is based on the CVC Vigilance Manual / Policy Circulars as well as the guidelines of the Department of Personnel and Training (DoPT) and the Ministry of Petroleum and Natural Gas. Timely Quarterly performance reports on Vigilance matters are provided to CVC and MoP&NG.

Vigilance Department continuously endeavours to ensure fair and transparent dealings by leveraging technology and recommending systemic improvements in line with guidelines issued by the Commission from time to time. Various routine vigilance activities were carried out during the year, such as an in-depth examination of complaints, detailed investigation, recommendation of penalties and systemic improvements. These helped in strengthening systems and procedures in the organization. During the year 52 Disciplinary matters related to Vigilance cases were disposed off and 3 cases were pending at the end of the year.

In the course of this year, various effective Systemic Improvements have been proposed to ensure

With a view to accelerate the pace of socio-economic development of the nation, EIL has always endeavoured to safeguard the interests of SC/ ST employees. The Company has appointed a Liaison Officer to work as a facilitator in ensuring that due attention is paid to the issues of SC/ ST employees.

transparency, efficiency and automation of processes. There has been a review of policies and procedures that can facilitate in reducing shortcomings and ensuring overall good governance. Vigilance clearances (approximately 715 nos.) were given during the financial year by Vigilance section for various purposes including Board level appointments. Vigilance awareness programs / trainings were also arranged during the year to enhance awareness amongst the employees and approximately 300 employees participated. CTE Type Intensive examinations (6 nos) were also conducted during the year. Systemic Improvements such as better handling of in-house contracts, improved guidelines for licensor evaluation, and guidelines for identifying personnel for leadership positions in EIL's subsidiaries and JVs were suggested.

The Vigilance Awareness Week (VAW-2023) was celebrated with a series of programmes on the theme "Say no to corruption; commit to the Nation, WMTC HI idtlY Ht; T15 H ah."

16. Human Resources & Industrial Relation

Human resources play a crucial role in driving sustainable performance within the Organization, and the company highly values its human capital and is dedicated to fostering

an environment that empowers them, fosters their growth, and acknowledges their contributions.

As on March 31 2024, EIL has a total employee strength of 2658 employees, wherein 89% areprofessionally qualified and almost 12% are women. Approximately 2.93 % of our employees are located outside India functioning in international work environments. Company has engaged 187 apprentices which constitutes about 7% of the total workforce and is committed towards the Skill India Mission of the Government.

Presidential Directives and Guidelines issued by GOI regarding reservation in service for SC/ST/OBC/PwD (Persons with Disability)/ EWS (Economically Weaker Section) were conscientiously implemented to promote Diversity & Inclusion.

During the year appropriate mix of talent was maintained to meet the dynamic market and specialist talent pool was developed to cater to emergent areas of business. The performance based culture was further strengthened by enabling holistic assessment of performance and potential. Various employee welfare and well being measures were undertaken like HALE (21 programmes), Health Checkups and Medical Camps, 'Aarogyam'- Daily Yoga Programme for Employees, Ex-employees & their Families, Sports Day Celebrations, Trekking Expeditions, Sports Competitions, introduction of 'Sahyog' Loan and 'WEvolve' for nurturing psychological well being of New Mothers.

Structured and periodic meetings were held with the collectives to maintain cordial industrial relations.

As an endeavour towards competency building, focus was maintained by enabling acquisition of certifications by employees in specialized domain areas. 'Shikhar'- advance leadership programme focussed on enhancing the professional capabilities and productivity of the senior executive team, whereas 'Aarohan' enhanced Leadership Capabilities and 'Daksh' aimed at sharpening managerial and functional effectiveness. Collaboration with the ITEC (International Technical and Economic Cooperation) Programme of Ministry of External Affair to design and deliver 10-week technical training programme for employees of Mangol Refinery consolidated EIL's position as the Global Knowledge Partner. Comprehensive and structured one-year training programme for Management Trainees prepared the fresh professional graduates for a corporate career.

'Youphoria' - Engagement initiatives for Millennials were organized both within the Company as well as across the Oil & Gas Industry.

The Company was recognized as a 'Great Place to Work' during the year 2023-24.

Implementation of Government Directives on Scheduled Caste/ Scheduled Tribes

With a view to accelerate the pace of socio-economic development of the nation, EIL has always endeavoured to safeguard the interests of SC/ST employees. The Company has appointed a Liaison Officer to work as a facilitator in ensuring that due attention is paid to the issues of SC/ ST employees. Management also encourages communication with the office bearers of the SC/ST Employees' Welfare Association by holding periodical meetings with the Association. Scholarships were awarded by EIL to 15 SC & ST (SC-10 and ST-5) undergraduate engineering students. The percentage of employees belonging to Scheduled Castes and Scheduled Tribes was 18.5 % and 5.2% respectively of the total employee strength of the Company (as on March 31,2024).

Implementation of Government Directives on Other Backward Class

The Company has appointed a separate Liaison Officer for OBCs, to work as a facilitator in ensuring that due attention is paid to the issues of OBC employees. The percentage of employees belonging to Other Backward Class (OBC) was 19.6% of the total employee strength of the Company (as on March 31,2024).

Implementation of Government Directives on Economically Weaker Section

The Company has implemented government directives pertaining to reservation of Economically Weaker Section (EWS).

EIL has contributed towards operational funding of Skill Development Institute (SD I) at Ahmedabad which caters to the skill development needs of youth for enhancing employability.

Initiatives for the Benefit of Persons with Disabilities

EIL is implementing the provisions of "The Rights of Persons with Disabilities Act, 2016" by way of providing reservation for Persons with Disabilities. The Company has also formulated Equal Opportunity Policy and appointed a Grievance Redressal Officer for Persons with Disabilities (PwD) (Divyangjan). As on March 31, 2024, there are 46 PwD employees on the rolls of the Company. Special Transport Allowance is being granted to eligible Persons with Disabilities as per guidelines.

17. Corporate Social Responsibility

EIL's CSR Policy envisions to enrich the lives of people through social upliftment, promotion of inclusive growth and recharging the environment in a sustainable manner. EIL has set clear objectives towards assisting the transformation of the Country's social infrastructure in an environmentally sustainable manner and has aligned its CSR initiatives to the national priorities. As per The Companies Act, 2013, a budgetary allocation of 2% of the average net profit made during three immediately preceding financial years has been done in the financial year 2023-24 for CSR activities. Some of key initiatives that the Company has been engaged in are as follows:-

Health Care & Nutrition (gOldZl): Healthcare continues to be a national priority and EIL has been contributing majorly in healthcare sector by providing access to quality healthcare services to underprivileged people. EIL supported running of a medical van in areas around Barmer district of Rajasthan to provide door-step healthcare services in rural areas. To address the malnourishment issue amongst children and women, EIL established 140 Model Anganwadi Centres by providing basic infrastructure at aspirational district Dhubri in Assam.

The company has provided financial assistance for programme on children's spine & optical health improvement by distribution of innovative school bags with desks in aspirational district Nandurbar, Maharashtra to over 27,700 children. The company is also providing financial assistance for treatment of 8 under-privileged Cancer Patients in Rajiv Gandhi Cancer Institute & Research Centre, New Delhi and has contributed to the PM CARES Fund; Medical equipment were provided to TLM Purulia Leprosy Hospital in Purulia, West Bengal; EIL has provided Advance Life Ambulance for medical camps & life support treatment in 4 districts of Assam; Conducted 4 camps in different locations for distributing aids and assistive devices to poor & needy Divyangjans; Provided Ambulance for catering to the needy people residing in the slums of Mumbai.

Drinking Water (ObYRT): Availability of safe drinking- water is crucial to human health & well-being, EIL, as part of this thrust area, supported the installation of four units of water coolers at common public places in Buland Shahar in Uttar Pradesh and five units of RO Water Vending Machines in aspirational district of Purnia, Bihar.

Education W^i): Education is the most powerful tool to empower underprivileged people, enhance employability and in turn improve the living standards. Through its CSR initiatives in the education sector, EIL has reinforced school infrastructure of numerous schools in rural parts of the country to benefit thousands of deprived students. EIL supported construction of a state-of-the-art building for a government school in Dharwad, Karnataka; Supported creation of additional school infrastructure in aspirational district Darrang, Assam and Karaikal, Puducherry.

To make education accessible to all and control the drop out of children especially girl children due to inadequate sanitation facilities, EIL undertook the maintenance of school toilets constructed by EIL at Assam, Odisha & Tamil Nadu as part of Swachh Vidyalaya Abhiyan.

Vocational Training/ Skill Development (UdlU):

Skill development is an important driver to address poverty reduction by improving employability and inclusive growth. EIL has contributed towards operational funding of Skill Development Institute (SDI) at Ahmedabad which caters to the skill development needs of youth for enhancing employability.

Women Empowerment (el?>): - Awareness on personal hygiene can empower women in rural areas by helping them stay healthy and feel more confident. EIL conducted health and menstrual hygiene awareness camps for rural girls/ women in aspirational district of Giridih district in Jharkhand.

Environment Protection (yH$IV): - As part of its efforts towards creating a more sustainable and greener environment, EIL developed Miyawaki forest in Gurugram, Haryana for improving ambient Air quality, Water conservation, flora & fauna and overall Environment & eco system for the benefit of the general population in and around the area.

18. Make In India - Aatmanirbhar Bharat

Since inception in 1965, EIL has been continuously engaged in the process of creating an ecosystem conducive to the growth of Indian industry promoting import substitution and engaging Indian Industry.

EIL is in the continuous process of stimulating and promoting local/domestic manufacturing and production capacities besides providing support to priority sectors in becoming more competitive and export oriented.

Towards Make in India and Aatmanirbhar Bharat, EIL has taken several initiatives and implemented various policies to enhance indigenous manufacturing and develop import substitution. Some of these initiatives, polices and progress achieved are listed as below:

Enlistment in EIL is focused on import substitution wherein development/ enhancement of indigenous capabilities deserves a special focus and attention; such items (and corresponding applications) are classified under Aatmanirbhar-1 & 2 categories to give importance to Aatmanirbhar Bharat Abhiyan in the right perspective. In view of the foregoing, the following initiatives have been taken by EIL:

• The enlistment applications for items/ equipment/products wherein the existing lists of approved manufacturers do not contain any

domestic manufacturer will be classified as A-1 (Aatmanirbhar-1) category.

• The enlistment applications for items/ equipment/products wherein the existing list of approved manufacturers contains up to two domestic manufacturers is classified as A-2 (Aatmanirbhar-2) category.

In FY 2023-24 Indigenous Suppliers base have been enhanced, as follows:

• EIL has added First Indian supplier in 12 different item categories.

• EIL has added Second Indian supplier in 02 different item categories.

• EIL has added Third Indian supplier in 15 different item categories.

India Energy Week

During the flagship event of MoP&NG titled India Energy Week held during February 6-9, 2024 at IPSHEM Complex, ONGC at Goa, EIL showcased a Make In India (MII) Pavilion with participation of 47 EIL enlisted suppliers displaying various latest Industrial products viz Static Equipment, Rotating Equipment, Piping, Electrical & Instrumentation, etc. operating in the MII ecosystem.

Lakshya Bharat Portal

Under the guidance of MoPNG, EIL has developed a reliable, scalable information system (Named as "Lakshya Bharat Portal"). This web-based portal is intended to provide opportunities for new entrepreneurs as well as existing manufacturers both Indian & Foreign, to invest/expand their manufacturing base in India under the Make In India policy, with an endeavour to make India an Aatmanirbhar Bharat.

Subsequently, in order to facilitate real time data update by various OPSUs, EIL has developed APIs (Application Programming Interface) and successfully integrated same with EIL database. This portal is being used by Oil & Gas companies to highlight all Capital goods & MRO (Maintenance Repair & Overhaul) items procured by OPSUs.

Regular Vendor Meets

EIL has been organizing manufacturers' meets from time to time with an intention to meet the entire vendor community to understand their issues and pain areas. In addition, focused meets have been held on specific items providing the intending entrepreneurs and existing manufacturers with the detailed perspective of the product under consideration. In FY 2023-24, EIL had organized 14 Vendor Meets.

EIL's Make In India Policy

Under GOI's Make In India campaign, EIL had issued a Make In India Policy in 2016 & revised the same in 2017, with the objective that foreign companies would get encouragement to set up their subsidiary in India or enhance the already existing portfolio. This policy encourages Indian subsidiary of a foreign company (holding 51% or above shares) in case of selective capital goods and technologies where India has limited number of manufacturers and there was tremendous scope for technology up-gradation.

As per this policy, Indian subsidiary can be enlisted/ qualified in the tenders subject to certain conditions, using the experience & support of either foreign principal or another subsidiary of the foreign principal, carrying the required experience. In FY 2023-24, for 15 product categories, 5 manufacturers have been enlisted / upgraded by EIL.

Enlistment through Prototype route

EIL has also issued a policy wherein for sectors where only one or two players exist, even manufacturers without PTR are being allowed to develop prototypes with handholding by EIL.

They were considered qualified based on the successful development & testing of a prototype, meeting the stipulated technical specifications as well as capability and capacity of the plant being upgraded to meet the requisite standards. In FY 2023-24, product profile of one manufacturer is enhanced by EIL.

EIL's other Efforts for growth of domestic industry

a. EIL is engaged as Project Management Consultant for Pre-award activities for India's first Lignite to Methanol Project of NLC India Ltd under Hon'ble Prime Minister's target of 100MTPA coal gasification by the year 2030.

b. EIL is also mapping all the emerging areas where the government, with the aim of strengthening domestic manufacturing, is announcing PLI schemes, and has been entrusted as 'Independent Engineer' for Advanced Chemistry Cells (ACCs).

c. EIL has developed indigenous Desalter and Double Wall Column (DWC) Trays technology in association with BPCL and making efforts to indigenized manufacturing of these items.

Start Up India

Under the Government of India "Start-up India" Campaign, EIL has implemented the policy wherein start-ups (with no PTR for item under consideration) are encouraged and supported to manufacture the item and get enlisted with EIL based on successful manufacturing of the item.

Online 24x7 empanelment process

To facilitate the empanelment process for various goods and services, enlistment portal in EIL is made live on 24x7 basis for all suppliers and contractors seeking empanelment in EIL Master Supplier / Contractor list.

Handholding through a chain of Regional Procurement Offices

EIL has 09 (Nine) Procurement offices located throughout India which are closely interacting with the Indian Manufacturers in respective regions and providing all necessary procedural and technical support & guidance to improve quality and range of manufacturing.

Compressed Bio Gas (CBG)

In order to promote the setting up of 195 CBG Plants in the country through various Oil and Gas companies under the administrative control of MoPNG, a committee was set up by MoPNG to explore information on technologies, critical equipment, benchmarks, validation of technologies, standardization of capacities and land requirements for the same.

The committee comprised of representatives from EIL (committee head), IOCL, GAIL, HPCL & BPCL.

The committee studied and discussed on technologies for various sections of CBG manufacturing plants like (1) Feed Pre-treatment (2) Digestion (3) Raw Biogas Upgradation and found that several technologies are available for performing these functions effectively.

Several mature and validated technologies for production of compressed Biogas are available to pave the way for setting up of several CBG Plants in the country. However, CBG industry being nascent in India at present, scope exists for optimization in the design, technology selection, operation etc. thereby reducing the overall cost of CBG plants.

Submission of revised list under 3(a) of revised PPP-MII order dt 16/9/2020-reg

Based on MoPNG direction , EIL after detail analysis at their end has submitted revised list of items notified under 3(a) which identifies Class -I local suppliers having local content > 50% eligible to bid for these items irrespective of PO values -a earnest step towards growth and development of domestic suppliers.

19. Official Language

Implementation of official language Policy & New Initiatives:

i. Quarterly meetings were held regularly wherein the progress of progressive use of Hindi was reviewed. The meetings of different OLICs of Regional/ Field/ Procurement Offices were organized and the targets of four meetings as per schedule was achieved during financial year.

ii. Provisions of the Section 3(3) of the Official

Language Act and the Official Language Rules have been complied with.

iii. Senior Officers of the Company participated in the meetings of the Town Official Language Implementation Committee (TOLIC).

iv. A workshop on "Kanthasth" was organized under the aegis of TOLIC, Gurugram for the members undertakings.

v. The initiatives taken in the field of IT includes activating Unicode facilities in all computers, Providing Indic IME, booklet for Standard Noting, PDF of Email Signature in Hindi and Google voice typing & other software on the computers and training of all above software's were given during Hindi Workshop. Necessary Hindi software's, Glossary and other material are installed in the Company Portal for spontaneous use of employees.

vi. Online software for compilation of Hindi QPR of the Company was updated and new features are in the testing process. The Hindi QPR and claim process of Hindi Coordinators is now fully paperless.

vii. Rajbhasha portal is updated and latest annual programme of Official Language 2024-25 is uploaded. For better compliance of implementation of Official Language in the Company inspections of 09 departments and 06 EIL offices have been conducted.

viii. Three Hindi regional conference were organized for the EIL office situated in each region i.e, A, B and C.

ix. The Parliamentary Standing Committee on Official Language inspected EIL's Head office, Branch office Mumbai and Regional Office Chennai and were satisfied with the implementation of official Language Policy in the respected office.

Hindi Teaching & Training:

In pursuance of the Official Language Policy of the Government of India, 14 employees, not knowing Hindi language, are nominated in correspondence course of Ministry of Home Affairs. Cent percent target has been achieved in respect of stenographers and typists.

Hindi Workshops:

Total 38 nos. of workshops in different Offices were organized during the year.

Hindi Fortnight Celebration:

The Hindi Fortnight was celebrated during 14 - 29 September 2023 in the Company. Various competitions were organized to encourage the progressive use of Hindi wherein winners were awarded. On this occasion such HODs/Head of office and their Hindi Coordinators were also awarded who have done maximum work in Hindi during the year.

Official Language Award

EIL, Research and Development Centre was awarded the TOLIC Official Language Award for the year 202223 by the City Official Language Implementation Committee, Gurugram.

In the half yearly meeting of TOLIC on 25 August 2023, Regional Office Kolkata received the Official Language Shield as the second prize in the Regional Office category-II.

20. Subsidiary, Joint Ventures and Associate Companies

As on March 31, 2024, your Company has one wholly owned subsidiary, two Joint Ventures including a JV under liquidation and one Associate company.

20.1 Subsidiary Company

Certification Engineers International Limited (CEIL), a wholly owned subsidiary of EIL, continued to provide Certification as well as Third Party Inspection (TPI) services to various clients. During the year, CEIL secured a number of assignments from ONGC, MRIDC, Gujarat Metro Rail Corporation Limited , MEGHA Engineering, Ujjain Smart City Limited, KRCL, East Coast Railway, GSPL, GIGL, MP Jal Nigam Maryadit, Pimpri Chinchwad Municipal Corporation, VMSS, RVNL, L&T, RINL, NLC, SAIL, ISPRL and various State Governments.

The Board of Directors of CEIL have recommended final dividend of H75/- per share (on face value of H100 per share) for the financial year 2023-24, in addition to H60/- per share interim dividend already paid during the year. With this, the total dividend for the financial year 2023-24 works out to H135/- per share amounting to H12.15 Crore.

20.2 Joint Ventures

RFCL is a Joint Venture Company of National Fertilizers Limited (NFL), Engineers India Limited (EIL) and Fertilizer Corporation of India Limited (FCIL) (Promoters) with 26% equity each by NFL & EIL. FCIL has been granted 11% equity in terms of CCEA approval. Govt. of Telangana has also taken equity participation of 11% equity. The plant with the capacity of 2,200 MTPD Ammonia Unit and 3,850 MTPD Urea Plant has declared its commercial operation of the Ramagundam Unit on March 22, 2021 and is operating at 100% capacity utilization. For financial year 2023-24, RFCL produced 11,14,472 MT of Urea.

20.3 Associate Company

EIL along with ONGC Videsh Singapore Pte. Ltd., GAIL (India) Ltd., IOCL Singapore Pte. Ltd. and Oil India International Pte. Ltd., having participating interest of 20% each, had incorporated a Limited Liability Company namely LLC Bharat Energy Office (LLC BEO) in Moscow, Russia to facilitate liaising with the Russian Hydrocarbon Industry and to monitor the existing investments in Russia. During the financial year 2023-24, the Company has contributed 20% share amounting to H64.59 lakhs towards the administrative expenditures for Office Maintenance and Operations of LLC BEO.

Further, pursuant to the provisions of Section 136 of the Companies Act, the financial statements of the Company, consolidated financial statements along with relevant documents and separate audited financial statements in respect of subsidiary, is available on the Company's website on https://www.engineersindia.com/Investor/landing

21. Corporate Governance

The Company is committed to good Corporate Governance as per the requirements of SEBI Listing Regulations and DPE Guidelines. The Board of Directors support the broad principles of Corporate Governance. In addition to the basic issues, EIL Board lays strong emphasis on transparency, professionalism and accountability. As required under SEBI Listing Regulations and DPE Guidelines on Corporate Governance, the Report on Corporate Governance, together with the Auditors' Certificate on compliance of conditions of Corporate Governance is annexed to this report.

22. Number of Meetings of the Board

The Board met 5 (five) times during the financial year. The meeting details are provided in the Corporate Governance Report which forms part of this Annual Report. The intervening gap between any two meetings was within the period prescribed under Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and DPE Guidelines on Corporate Governance.

23. Composition of Audit Committee

The recommendations made by the Audit Committee during the year were accepted by the Board. The other details of the Audit Committee, like its composition, terms of reference, meetings held, etc., are provided in the Corporate Governance Report.

24. Declaration by Independent Director

Independent Directors of the Company have submitted the declaration confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013, Regulation 16(1 )(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and they are not aware of any circumstance or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective of independent judgment and without any external influence.

The Board is of the opinion that the Independent Directors of the Company possess requisite qualifications, experience and expertise and they hold highest standards of integrity. Further, Independent Directors of the Company have complied and affirmed to abide by Rule 6 (Creation and Maintenance of Data Bank of Persons Offering to become Independent Directors) of the Companies (Appointment and Qualification of Directors) Rules, 2014, as amended from time to time, and have also declared their inclusion in the data bank of Independent Directors maintained by Indian Institute of Corporate Affairs ('IICA').

25. Directors and Key Managerial Personnel

The following changes occurred in the Board/Key Managerial Personnel of the Company:

1) Shri Ashok Kumar Kalra, Director (HR) ceased to be director w.e.f 01.10.2023 consequent upon his superannuation.

2) Smt. Vartika Shukla, C&MD was holding the additional charge of Director (HR) from October 01, 2023 to December 31, 2023.

3) Shri Rajeev Gupta, Director (Projects) is holding the additional charge of Director (HR) w.e.f 01.01.2024.

4) Shri Arun Kumar, Director, MoPN&G was appointed as Director (Govt. Nominee) w.e.f.14.05.2024 (date of allotment ofDIN) in place Shri Rohit Mathur who ceased to be Director (Govt. Nominee) w.e.f. 10.05.2024.

In terms of the provisions of the Companies Act, 2013 and the Articles of Association of the Company, Shri Rajiv Agarwal, Director (Technical) and Shri Rajeev Gupta, Director (Projects) are liable to retire by rotation and being eligible are proposed to be re-appointed at the forthcoming 59^th Annual General Meeting (AGM).

The Board places on record its deep sense of appreciation for the guidance and invaluable contribution made by the Directors, who have ceased during the year as Directors of the Company.

Details of the proposals for appointment/re-appointment of Directors along with their brief profile are provided in the notice of the AGM.

26. Secretarial Auditors

M/s VAP & Associates, Company Secretaries, was appointed to conduct the Secretarial Audit of the Company for the financial year 2023-24, as required under Section 204 of the Companies Act, 2013 and Rules there under. The Secretarial Audit Report for the financial year 2023-24 is annexed in this Report.

All the comments of Secretarial Auditor were primarily related to Composition of Board of Directors and its performance evaluation etc. In this regard, it is clarified that EIL, being a Public Sector Undertaking (Government Company), composition of its Board of Directors is the prerogative of the President of India as provided under the Articles of Association of the Company. Since Government of India is appointing authority for Directors, the Company communicates to the Administrative Ministry (MoPNG) as and when a vacancy is created and requests to fill up the position. Further, the Ministry of Corporate Affairs (MCA) vide notifications dated 05.07.2017, inter-alia, had exempted government companies from the provisions relating to performance evaluation of directors. However, the performance evaluation of Directors is carried out by the Administrative Ministry, Govt. of India.

27. Vigilance Mechanism/Whistle Blower Policy

The Company has a Whistle Blower Policy and has established the necessary vigil mechanism for directors and employees in confirmation with Section 177(9) of the Companies Act and Regulation 22 of SEBI Listing Regulations, to report concerns about unethical behavior. This Policy is available at the Company's website https:// www.engineersindia.com/Investor/landing.

28. Transfer of unpaid/unclaimed dividend amounts/ Securities to Investors Education and Protection Fund

A detailed disclosure on unpaid/unclaimed dividend and shares transferred to the IEPF in Compliance with the provisions of the Companies Act, 2013 has been given in the Corporate Governance Report which forms part of this Annual Report. The same is also available on the website of the Company at https://www.engineersindia.com/ Investor/landing.

29. Nomination and Remuneration Committee

EIL is a Public Sector Undertaking (Government Company) and the appointment of Directors, both Executive and Non-Executive are made by the Government of India and are being paid remuneration as per the terms of their appointment. The Company has a Nomination and Remuneration Committee and detailed disclosure in this regard has been given in the Corporate Governance Report which forms part of this Annual Report.

30. Performance Evaluation of the Board

EIl is a Public Sector Undertaking (Government Company) and the appointment of Directors, both Executive and NonExecutive are made by the Government of India. Therefore, the Company has not laid down any criteria for performance evaluation of the Independent Directors and the Board. However, regular inputs on performance of Independent Directors are being provided to administrative Ministry as well as Department of Public Enterprises (DPE).

31. Particulars of Contracts or Arrangements made with Related Parties (RPTs).

In line with the provisions of the Companies Act, 2013 and the SEBI Listing Regulations, the Company has a policy on materiality of Related Party Transactions and also on dealing with Related Party Transactions. The same has been posted on the website of the Company at https:// www.engineersindia.com/Investor/landing. The Company gives the disclosure regarding material transactions with related parties on quarterly basis along with the compliance report on Corporate Governance. As per requirements of Section 134 (3) of Companies Act, 2013 read with Rule 8 of Companies (Accounts) Rule, 2014, particulars of contracts or arrangements with related parties as referred in section 188 (1) of the Companies Act, 2013 (AOC-2) is annexed to this report. Further, suitable disclosure as required by the Indian Accounting Standard (Ind AS-24) "Related Party Disclosures" has been given in the Notes to the Financial Statements.

32. Details of Loans/Investments/Guarantees

In compliance with the provisions of the Companies Act, 2013, the details of investments made and loans/guarantees provided as on 31.03.2024 are given in the respective Notes to the financial statements.

33. Reporting of Frauds by Auditor

During the year under review, neither the statutory auditors nor the secretarial auditor has reported to the Audit Committee, under Section 143(12) of the Companies Act, 2013, any instances of fraud committed against the Company by its officers or employees, the details of which would need to be mentioned in the Directors' Report.

34. Annual Return

Pursuant to Section 134(3)(a) read with Section 92(1) of the Companies Act, Annual Return of the Company for FY 2023-24 is placed at https://www.engineersindia.com/ Investor/Landing.

35. Cost Auditors

EIL does not fall under the cost audit rules and therefore, there is no requirement of cost audit for the Company in terms of amended Companies (Cost Records and Audit) Rules.

36. Conservation of Energy, Research and Development, Technology Absorption, Foreign Exchange Earnings and Outgo

(Figures in H Lakhs)

In accordance with the provision of the Companies Act, 2013 and rules framed thereunder, particulars relating to Energy Conservation Technology Absorption are given under Research & Development and Sustainable Development Sections of the Directors' Report.

Information regarding imports, foreign exchange earnings and expenditures etc. (excluding exchange difference on conversion of foreign currency) is as following:

37. Significant and Material Orders

There are no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and Company's operations in future.

38. Other Disclosures

No disclosure or reporting is required in respect of the following item as either these were not applicable or there were no transactions on these items during the financial year 2023-24: -

1. Details relating to deposits covered under Chapter V of the Companies Act, 2013.

2. Issue of equity shares with differential rights as to dividend, voting or otherwise.

3. Issue of shares (including sweat equity shares) to employees of the Company under any scheme.

4. Neither the Managing Director nor the Whole-time Directors of the Company receive any remuneration or commission from any of its subsidiaries.

The names of companies which have become or ceased to be joint ventures or subsidiary companies during the year are NIL.

The Company has complied with the applicable Secretarial Standards (SS-1 & SS-2).

The Company has complied with the provisions and has in place Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. Further, during the financial year 2023-24, no case was filed under the above Act.

No application were made during the financial year and no proceedings are pending against the company under the Insolvency and Bankruptcy Code, 2016.

39. Code of Conduct

EIL has formulated a Code of Business Conduct and Ethics for Board of Directors and Senior Management Personnel. All Board Members and Senior Management Personnel have given their confirmation of compliance for the year under review. A declaration duly signed by C&MD is given under para 2(vi) of the Report on Corporate Governance annexed to this Report. The Code of Business Conduct and Ethics for Board of Directors and Senior Management Personnel are given on the website of the Company at https://www.engineersindia.com/Investor/landing.

40. Right to Information

EIL, as a Public Authority is implementing various provisions of the Right to Information Act, 2005 (RTI Act) in true spirit. A dedicated RTI Cell is available at HO-New Delhi to deal with the matters pertaining to the Act and to comply with the requirements of the Act. Besides the RTI applications received physically, the Company receives and addresses the online RTI applications received through the RTI portal www.rtionline.gov.in. which is a unified RTI portal of the Government of India. Under the proactive disclosure of the information as per section 4(1 )(b), information has been made available on Company's official website - www.engineersinriia.com/RTI and has displayed and regularly update the details of CPIO, APIO, First Appellate Authority.

During the year 2023-2024, a total of 195 RTI applications were disposed off timely, by providing information in line with provisions mentioned in the Act. The Company also received First Appeals in response to the information provided by CPIO. 28 RTI Appeals were attended to and appropriately disposed off by First Appellate Authority during the aforesaid period.

41. Directors' Responsibility Statement Your Directors state that:

a) in the preparation of the annual accounts for the year ended March 31, 2024, the applicable accounting standards read with requirements set out under Schedule III to the Companies Act, have been followed and there are no material departures from the same;

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 at March 31,2024 and of the profit of the Company for the year ended on that date;

c) the Directors have 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) the Directors have prepared the annual accounts 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 are adequate and operating effectively.

42. Statutory Auditors

M/s Datta Singla & Co, Chartered Accountants were appointed as Auditors of the Company for the financial year 2023-24 by the Office of Comptroller & Auditor General of India. The Statutory Auditor's Report on standalone and consolidated financial statements do not contain any qualifications, reservations, or adverse remarks or disclaimer.

43. Comptroller and Auditor General of India's (C&AG)'s Audit

The C&AG has conducted supplementary audit under Section 143(6) (b) of the Companies Act, 2013 and issued

Nil comments. The Nil comments report is annexed in this Annual Report.

C&AG Paras from other Audit

As at 31^st March, 2024, there is no pending C&AG Paras.

44. Bankers

Bankers of the Company include State Bank of India, Bank of Baroda, Punjab National Bank, Union Bank of India (erstwhile corporation bank), HDFC Bank, ICICI Bank, Indian Bank, Bank of India, Canara Bank, Axis Bank, Standard Chartered Bank, EXIM bank, HSBC and IndusInd Bank.

45. Particulars of Employees

As per the provisions of Section 197 of the Companies Act, 2013 and Rules made thereunder, Government Companies are exempted from inclusion of the statement of particulars of employees. The information has, therefore, not been included as part of the Directors' Report.

46. Acknowledgement

The Directors are grateful for all the help, guidance and support received from Ministry of Petroleum & Natural Gas and from other Ministries of the Government of India. Directors are also grateful to the Bankers, Statutory Auditors, Comptroller & Auditor General of India and the investors for their continued patronage and confidence in the Company.

The Directors thank all our esteemed clients for the faith and trust reposed in the Company. With continuous learning, skill upgradation, technology development, your Company continue to provide world class professionalism and services to our clients.

The Directors thank all associates, vendors and contractors within the country and abroad, for their continued support without which EIL could not have achieved the desired results. Your directors are grateful to all the Foreign Missions in India and Indian Missions abroad in countries where EIL has business operations for their continued help and support.

The Directors wish to convey their appreciation to all employees for the valuable services and cooperation extended by them and are confident that they will continue to contribute their best towards achieving still better performance in future.