of Corporate Affairs’ notification of the Companies (Indian Accounting Standards) Rules, 2015. The standalone and consolidated financial statements of the Company, forming part of the Annual Report, have been prepared and presented in accordance with all the material aspects of the Indian Accounting Standards (‘Ind AS’) as notified under section 133 of the Companies Act 2013 read with the Companies (Indian Accounting Standards) Rules 2015 (by Ministry of Corporate Aff airs (‘MCA’)) and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 as amended and relevant amendment rules issued thereafter and guidelines issued by the Securities Exchange Board of India (“SEBI”). There was no revision of Financial Statements (Standalone & Consolidated) and Board Reports during the year under review. Your Company is using SAP S/4HANA accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has been operated throughout the year for all relevant transactions recorded in the software, except that audit trail feature is not enabled at the database level for the accounting software to log any direct data changes. There is no instance of tampering was noted in respect of the software where audit trail has been enabled. Prevention of Insider Trading Code As per SEBI (Prohibition of Insider Trading) Regulation, 2015 as amended from time to time, the Company has adopted a Code of Conduct to Regulate, Monitoring & Reporting of Trading by Insiders. The Company has appointed Mr. Umakanta Barik, Company Secretary of the Company as Compliance Officer, who is responsible for setting forth procedures and implementation of the code of conduct for trading in Company’s securities. During the year under review, there has been due compliance with the said code. Your Company is maintaining Structured Digital Database (‘SDD’), the database of unpublished price sensitive information (UPSI), shared internally or externally, with the intent of keeping track as to who all were in the know of an UPSI before it became public. Reconciliation of Share Capital Audit As required by the SEBI Listing Regulations, quarterly audit of the Company’s share capital is being carried out by an independent Practicing Company Secretary with a view to reconcile the total share capital admitted with NSDL and CDSL and held in physical form, with the issued and listed capital. The Practicing Company Secretary’s Certificate in regard to the same is submitted to BSE and the NSE and is also placed before the Board of Directors. Acknowledgement and Appreciation We, the Board of Directors, feel compelled to express our sincere acknowledgement and heartfelt appreciation to the farmers, customers, consumers, investors, bankers, vendors/employees and all stakeholders who have played an invaluable role in our collective success. First and foremost, we extend our deepest gratitude to the farmers who toil tirelessly to take-care of the milch animals and bring forth the bounties of nature. Their unwavering commitment and dedication ensure a steady supply of high-quality milk that form the foundation of our products. Without your hard work and expertise, we would not be able to deliver exceptional goods to our customers. To our esteemed customers and consumers, we extend our utmost appreciation. Their loyalty and trust in our brand inspire us to continuously improve and exceed your expectations. Their invaluable feedback and support have guided us in refining our products and services, ultimately enhancing the overall consumer experience. We are honoured to be a part of their lives and strive to consistently deliver excellence. We would also like to express our gratitude to our investors for your unwavering confidence in our vision and mission. Your financial backing and strategic guidance have propelled our growth and enabled us to pursue innovation and expansion. Your belief in our potential has been instrumental in transforming our ideas into reality, and we remain committed to delivering sustainable returns on your investment. To our esteemed bankers, we extend our sincere appreciation for your trust and collaboration. Their unwavering support in providing financial solutions and expertise has been instrumental in our operational efficiency and growth. Your partnership has enabled us to navigate challenges and seize opportunities, and we are grateful for the synergy we have cultivated together. Last but not least, we would like to extend our heartfelt thanks to all our stakeholders. Their collective efforts, dedication, and belief in our organization have been the cornerstone of our achievements. We cherish the relationships we have built, and we are committed to fostering open communication, transparency, and collaboration as we move forward. In conclusion, we wholeheartedly acknowledge and appreciate the farmers, customers, consumers, vendors investors, bankers, employees and all stakeholders who have contributed to our journey thus far. Your unwavering support and trust have been integral to our success, and we look forward to continuing this partnership as we strive for new heights together. Place : Hyderabad Date: May 29, 2024 For and on behalf of HERITAGE FOODS LIMITED A V Girijakumar Chairperson (DIN : 02921377) Board's Report STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 75 HERITAGE FOODS LTD | 32ND ANNUAL REPORT 2023-24
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