7. Training and Skill Development: Recognizing the importance of human resources in technology absorption, Your Company provides regular training and skill development programs to its employees. These initiatives aim to enhance their technical knowledge and profi ciency in utilizing technology eff ectively. By adopting and absorbing technology in various aspects of its operations, Your Company strives to enhance productivity, improve product quality, optimize supply chain management, and meet the changing demands of consumers. 8. The benefi ts derived like product Improvement, cost reduction, product development or import substitution: Energy saving & reduction of cost of products, improved product quality. 9. In case of imported technology (imported during the last three years reckoned from the beginning of the fi nancial year) : Nil 10. The Expenditure incurred on Research and Development : ` 10.88 Million C) Foreign Exchange Earnings and Outgo During the year under review foreign exchange earnings was Nil (previous Year-Nil) and foreign exchange outgo was ` 0.51 Million (Previous year Nil) For and on behalf of the Board of Directors N. BHUVANESWARI N. BRAHMANI Place : Hyderabad Vice Chairperson & Managing Director Executive Director Date: May 25, 2023 (DIN: 00003741) (DIN : 02338940) 105 Board’s Report | Statutory Reports
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