Overall, investor relations is a critical function that helps companies establish and maintain productive relationships with their investors and the broader investment community. By providing transparent and timely information, fostering relationships, and monitoring market trends, investor relations professionals contribute to enhancing the company’s reputation, maximizing shareholder value, and supporting its long-term growth objectives. Credit Rating The details of the credit rating are as follows: a) Credit rating obtained by the company: in respect to long term and short term debts b) Name of the credit rating agency: Credit Rating Information Services of India Limited (CRISIL) i. Long term Rating: CRISIL A+/Stable ii. Short term Rating: CRISIL A1 c) Date on which the credit rating was obtained: March 27, 2023 (valid up to March 31, 2024) d) Revision in the credit rating: Yes e) Reasons provided by the rating agency for a downward revision: NA Particulars of Employees and Related Disclosures The table containing the names and other particulars of employees in accordance with the provisions of Section 197(12) of the Companies Act, 2013, read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are provided in Annexure-2A. A statement containing the names of every employee employed throughout the financial year and in receipt of remuneration of ₹10.20 million or more per annum or employed for part of the year and in receipt of ₹0.85 million or more in a month under Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended from time to time are provided in Annexure-2B to this report. Details under Insolvency and Bankruptcy Code, 2016 No application is made, or any proceeding is pending against the Company under Insolvency and Bankruptcy Code, 2016 during or as at the end of the year under review. Details of One Time Settlement The Company did not evade any One Time Settlement (OTS) from banks or Financial Institutions and hence giving disclosures on valuation of assets/securities at the time of borrowing and at the time of OTS do not become applicable. Information Technology and Digitization: Implementation of IT & Digital Transformation Strategy has been a key priority for Heritage Foods Limited for the year 2022-23. The Strategy was focused on addressing the perspective of all the stakeholders, viz. Farmer, Consumer, Customer and the Employee to achieve the desired outcomes of reducing the Cost, enhancing the efficiency, consumer delight and enhancing revenue. Introduction of various initiatives using Data Science such as grading of MCCs & Representatives and Forecasting of SMP Price - have helped the Organisation in taking data driven decisions. BI Dashboards have been deployed covering all major functions such as; Sales, Procurement, Finance, Production, Purchase & Stores and Human Resource. Heritage CLapp (Customer Live Application) & DMS (Distributor Management System) have given an edge in terms of streamlining the primary and secondary sales process from Agent level up to the counter sales level in an authentic manner. Vet+ app continued to widen its user base and the range of services helping the Farmers with hassle free veterinary services and eventually enhancing their income. All the IT related initiatives combined have helped the organisation in being consumer centric and farmer friendly while making Heritage as the best place to work with for its employees. Board Diversity Board diversity offers several advantages. Here are some of the key benefits of having diverse boards: • Enhanced decision-making: Board diversity brings together individuals from different backgrounds, experiences, and perspectives. This diversity of thought and expertise can lead to more robust and well-rounded decision-making processes. By considering a wider range of viewpoints, boards can avoid groupthink and make more informed and innovative choices. • Improved corporate governance: Diverse boards can contribute to better corporate governance practices. When a board comprises individuals with diverse skills, knowledge, and experiences, it ensures a more comprehensive oversight of the company’s activities. This can help in addressing conflicts of interest, promoting transparency, and ensuring accountability. • Increased creativity and innovation: Diversity stimulates creativity and innovation within organizations. By incorporating diverse perspectives, boards can foster a culture of openness, collaboration, and inclusivity. Different viewpoints can challenge existing norms, encourage fresh ideas, and lead to more innovative solutions and strategies. 75 Board’s Report | Statutory Reports
RkJQdWJsaXNoZXIy NTE5NzY=