development programs, engagement and volunteering programs. Your company has put in continued efforts in building capabilities of Human Resources with adoption of specific and targeted interventions. Your Company has a structured induction process at all locations and management development programs to upgrade skills of managers. Objective appraisal systems based on Key Result Areas are in place for all employees. Your Company is committed to nurture, enhance and retain talent through superior Learning & Organizational Development. The total strength of your Company employees as on March 31, 2024 was 3,225. Investor Relationship Investor relations is a critical function within a company that focuses on building and maintaining relationships with its investors and stakeholders. It serves as the bridge between the company’s management team, its shareholders, analysts, and the broader investment community. The primary goal of investor relations is to effectively communicate the company’s financial performance, strategic direction, and key developments to the investment community. Investor relations professionals play a vital role in managing the flow of information between the company and its investors. They are responsible for disseminating accurate and timely information, such as financial reports, earnings releases, and regulatory filings, to ensure transparency and compliance. These professionals also organize and participate in investor conferences, roadshows, and earnings calls, where they provide updates on the company’s performance and address questions and concerns from investors. Another crucial aspect of investor relations is building and maintaining relationships with shareholders and analysts. Investor relations teams proactively engage with institutional investors, retail shareholders, and sell-side/ buy-side analysts, providing them with insights into the company’s operations, industry trends, and financial outlook. These interactions help foster trust, credibility, and long-term relationships, which are essential for attracting and retaining investors. In addition to communication and relationship - building, investor relations professionals also monitor and analyze market trends, investor sentiment, and competitor activities. They assess the impact of market developments on the company’s valuation and help management understand and respond to changes in the investment landscape. By staying abreast of market dynamics, investor relations teams can effectively advise the company’s leadership on investor concerns, expectations, and potential risks. 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: April 2, 2024 (valid up to March 31, 2025) d) Revision in the credit rating: During the under review no revision in the credit rating. CRISIL Ratings Limited has reaffirmed its rating on long-term and short-term bank facilities of the Company. e) Reasons provided by the rating agency for a downward revision: Not Applicable 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 & 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 and Valuation of Assets The Company did not avail 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 does not become applicable. Information Technology and Digital Transformation: Implementation of IT & Digital Transformation Strategy has been a key priority your Company for the year 2023-24. 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.. Board's Report STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 63 HERITAGE FOODS LTD | 32ND ANNUAL REPORT 2023-24
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